ECGC to play counter-cyclical role to help exporters in these troubled times: CMD

The ECGC Ltd will play a counter-cyclical role to help exporters in these troubled times, a top company official said. So to help them, ECGC will be playing a counter-cyclical role and credit insurers need to take high risk." He said that the present situation calls for some "credit accommodation", adding that ECGC is now working under pandemic-related restrictions.

The ECGC Ltd will play a counter-cyclical role to help exporters in these troubled times, a top company official said. CMD of ECGC M Senthilnathan said the present crisis is worse than the global financial meltdown a decade ago and working capital cycles of almost all businesses have been affected.

Speaking at CII-organised webinar on Monday evening, he said, "Working capital cycles of most the businesses have been affected. So to help them, ECGC will be playing a counter-cyclical role and credit insurers need to take high risk." He said that the present situation calls for some "credit accommodation", adding that ECGC is now working under pandemic-related restrictions. Senthilnathan said ECGC is ready to support the endeavour of the exporters to expand in the markets of Africa and Latin America.

Executive director of ECGC Sunil Joshi said that the role of the corporation is to provide capacity to exporters in high risk markets and high-value transactions. Chairman of CII national committee on exports and imports Sanjay Budhia said in these trying times managing credit risk and taking protection against unforeseen losses has assumed greater importance and there is a need to increase flow bank credit to the exporters.