Question : Adequate Funding for Exporters

(a) whether it is a fact that the exporters of India have complained of lack of adequate funding at reasonable costs and if so, the details thereof;
(b) whether the Government is proposing to provide an equity of Rs.1,000/- crores through budgetary allocation to the Exim bank and strengthen the Export Credit Guarantee Corporation (ECGC) to provide fund to the exporters at a low cost; and
(c) if so, the time by which the Government proposes to implement such measures for the benefit of the exporters?

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SHRI C. R. CHAUDHARY)

(a) No, Madam. ECGC only insures the working capital lending provided by Commercial banks in India. Exim Bank has not received any complaints from Indian exporters in respect of availability and cost of funding.

(b) & (c) The Government of India has agreed to augment the capital of ECGC with an additional capital of Rs.2000 crores over a 3 year period from 2017-18 to 2019-20.The Government of India has made an allocation of Rs. 500 crore towards capital infusion in Exim Bank, in the Union Budget for FY 2018-19.

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