Export Credit Guarantee Corporation of India

What Export Credit Guarantee Corporation of India does

Export Credit Guarantee Corporation of India (ECGC) is a sovereign-mandated, Government of India-owned export credit insurer operating under the administrative control of the Ministry of Commerce and Industry. IRDAI-registered (Registration No. 124), ECGC provides risk cover to Indian exporters and the commercial banks that finance their trade, addressing buyer-credit, commercial, and political risks that private markets are unwilling or unable to absorb at scale. The corporation distributes cover through 60+ regional branch offices across India and through bank-channel partners that issue policies at the point of export finance origination. Headquartered in Mumbai with a workforce of 501-1,000, ECGC has operated since 1957 and underwrites a multi-product portfolio tailored to exporter size and risk profile.

The product architecture spans Whole Turnover Policies (WTP) for large exporters with diversified buyer books, Standard and Specific Policies (SSP, SCR, SEP) for medium-segment exporters, Small Exporters Policies, ECIB variants for bank-financed export credit, and the New Insurance Agenda (NEIA) for MSME onboarding. In March 2026, ECGC launched the RELIEF scheme with a Rs 497 crore government outlay, providing premium-subsidized cover for exporters facing trade disruptions, and subsequently extended RELIEF geographies to Egypt and Jordan in April 2026. Reinsurance and counter-party arrangements with NEXI (Japan), US EXIM Bank, Export Finance Australia, EXIAR (Russia), Euler Hermes, and D&B support cross-border capacity and buyer-intelligence flows.

ECGC's revenue model combines direct premium income on underwritten cover, reinsurance premiums ceded to and accepted from foreign ECAs, and government-backed scheme pass-throughs for initiatives such as RELIEF and NEIA. ICRA has assigned ratings of B++ (Good) and BBB+ (Good) to ECGC's claims-paying ability, and AAA.IN at the national scale. Customer concentration spans thousands of Indian exporters across sectors (textiles, engineering, chemicals, agri-products, services) and their financing banks, making ECGC structurally an infrastructure provider for Indian export trade rather than a concentrated commercial counterparty.

Name

Export Credit Guarantee Corporation of India

Legal name

Export Credit Guarantee Corporation of India Limited

Website

https://ecgc.in

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ECGC is a Government of India-owned export credit insurer that provides political and commercial risk cover to Indian exporters and their banks, distributing multi-product policies (WTP, SSP, SEP, ECIB, NEIA, RELIEF) through 60+ branches nationwide.

Ownership category

akta.pro rank

Product category

Export Credit Insurance

NAICS

Insurance Carriers and Related Activities (524), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Export Credit Agencies (ECAs) & Official Export Finance (FSABAKAC)

akta.pro secondary industries

Export Credit Agencies (ECAs) & Trade Finance Institutions (BPADACAF), Trade Finance, Export Credit & Risk Mitigation (BPADAMAG), Structured Trade & Export Credit (ECA-backed, Structured Solutions) (FSABAHAJ)

Keywords

• Export credit insurance
• Trade credit insurance
• Political risk insurance
• Export finance insurance
• MSME export support

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Export Credit Insurance Premiums: ECGC earns revenue through insurance premiums collected from exporters under various policies including Whole Turnover Policies (WTP), Specific Shipment Policies (SSP), Shipments Comprehensive Risks (SCR), Small Exporter Policies (SEP), and buyer-specific policies. Premium rates vary based on risk coverage, buyer creditworthiness, and destination countries.
2. Banker Insurance Services: ECGC provides export credit insurance for banks covering packing credit, post-shipment finance, and other export financing facilities, generating premium income from financial institutions.
3. Whole Turnover Packing Credit (WTPC): Insurance cover for pre-shipment finance provided to exporters against their entire turnover, with premiums based on export volume and risk profile.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

ECGC provides export credit insurance and guarantee services that protect Indian exporters and banks against non-payment by overseas buyers, including commercial risks (buyer default, insolvency, bankruptcy) and political risks (war, currency inconvertibility, transfer restrictions). It offers specialized policies for goods exporters, service exporters, IT/software exporters, construction exporters, MSMEs, and banks providing pre-shipment and post-shipment finance, and implements government schemes such as the National Export Insurance Account (NEIA) and the RELIEF Scheme.

Product overview

ECGC Limited (Export Credit Guarantee Corporation of India) operates as India's premier export credit insurance provider under the Ministry of Commerce & Industry, Government of India. The company offers a comprehensive portfolio of export credit insurance products and services organized across multiple categories: (1) Core Exporter Policies including Shipments Comprehensive Risks Policy (SCR), Small Exporters Policy (SEP), Specific Shipment Policy (SSP-ST), Services Policy (SRC), Export Turnover Policy (ETP), Buyer-Specific Policies (BP, BEP), SME Policies, and specialized IT/Software/Construction sector policies; (2) Banking Products covering pre-shipment and post-shipment credit insurance such as Individual Packing Credit (INPC), Whole Turnover Packing Credit (WTPC), Export Credit Insurance for Banks (ECIB) with multiple variants including INPS, WTPS, EF, and surety covers; (3) Investment Products including Overseas Investment Insurance and Lines of Credit Cover; (4) Custom Solutions like Factoring, Buyers Credit Cover, and Customer Specific Covers; and (5) Government Schemes including the National Export Insurance Account (NEIA) and the RELIEF Scheme. The RELIEF Scheme, a Rs 497 crore time-bound intervention launched in March 2026, provides enhanced risk coverage for exporters impacted by West Asia geopolitical disruptions. The company also provides the SMILE BIZ client portal and premium calculator tools for policyholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Shipments Comprehensive Risks Policy (SCR) Comprehensive export credit insurance policy covering shipments against multiple risks including buyer default, political risks, and commercial risks for Indian exporters.
• Small Exporters Policy (SEP) Tailored insurance coverage for small exporters protecting against buyer defaults and payment risks with affordable premium structure.
• Specific Shipment Policy – Short Term (SSP-ST) Insurance policy for specific short-term export shipments with flexible coverage options and per-shipment pricing.
• Services Policy (SRC) Export credit insurance policy covering service exporters against non-payment risks.
• Export Turnover Policy (ETP) Comprehensive policy covering exporter's entire turnover against buyer default risks.
• Export Specific Buyer Policy (BP) Policy covering exports to specific named buyers against default and insolvency.
• Consignment Exports Policy (CEP) Insurance coverage for exporters shipping goods on consignment basis.
• Buyer Exposure Policy (BEP)

Quantifiable outcome

• Up to 100% loss coverage provided under RELIEF scheme vs standard 70-80% ECGC coverage
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor and core.

• CII Gujarat Export ConclaveminorGTM or Marketing Partner · 12 September 2025ECGC ED Shri Subir Das participated as panelist at the 2nd CII Gujarat Export Conclave in Ahmedabad, themed 'Our Gateway to Global Success', engaging with exporters and industry stakeholders.
• NEXI (Nippon Export Investment Insurance, Japan)coreTechnology or Integration · 29 March 2024Reinsurance framework agreement signed on March 29, 2024 between ECGC and NEXI, Japan's export credit agency. The agreement was further reinforced at TICAD9 (Tokyo International Conference on African Development) on August 21, 2025, in presence of Japan's PM Shigeru Ishiba, with ECGC ED Subir Kumar Das and NEXI CEO Atsuo Kuroda participating. This partnership provides risk-sharing mechanisms for exports to shared markets.
• US EXIM BankcoreStrategic or Co-development PartnerMoC signed under QUAD framework for cooperation between export credit agencies. US EXIM Bank, NEXI (Japan), Export Finance Australia, and ECGC signed the MoC in Oslo to enhance collaboration on export financing and credit insurance.
• Export Finance AustraliacoreStrategic or Co-development PartnerPartner in QUAD ECA cooperation framework alongside US EXIM Bank, NEXI, and ECGC for enhanced export credit collaboration.
• EXIAR (Export Credit Insurance Agency of Russia)minorStrategic or Co-development PartnerReinsurance framework agreement signed between ECGC Limited and EXIAR of Russia for cooperation in export credit insurance.
• Euler Hermes (Germany) - Berne UnionminorStrategic or Co-development PartnerBilateral meeting held between ECGC Executive Director Shri Subir Das and Euler Hermes Germany at Berne Union AGM 2025.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Euler Hermes (Allianz Trade): World's largest trade credit insurer and Berne Union peer, directly comparable to ECGC in providing buyer-default and political-risk export credit insurance, with whom ECGC holds an active bilateral relationship via Berne Union AGM 2025.
• Coface: Major global trade credit insurer offering comparable buyer-insolvency and political-risk cover. Competes with ECGC in cross-border exporter coverage in Europe and emerging markets.
• Nippon Export and Investment Insurance (NEXI): Japan's official export credit agency with whom ECGC holds a 2024 reinsurance framework reinforced at TICAD9 — direct peer in ECA mandate, structured trade credit, and reinsurance pooling.
• US Export-Import Bank (US EXIM): US official ECA and QUAD partner under the MoC signed in Oslo for enhanced cross-border export credit cooperation; directly comparable mandate on sovereign-backed trade finance insurance.
• Export Finance Australia: Australia's official ECA, partnering with ECGC in the QUAD ECA framework — direct peer offering sovereign-backed export credit and political risk insurance.
• Atradius: Major European trade credit insurer offering buyer-default cover comparable to ECGC's WTP/SCR products; competes for large multinational exporter accounts.
• Sinosure (China Export & Credit Insurance Corporation): China's official export credit agency — the world's largest by insured volume — closely comparable to ECGC in state-backed short-term and medium-long-term export credit insurance.
• ECIAR (Export Insurance Agency of Russia): Russia's official export credit insurer with which ECGC holds a bilateral reinsurance framework agreement — direct peer in ECA mandate and structured export cover.
• UK Export Finance (UKEF): UK's official ECA and QUAD ECA framework participant — direct peer providing sovereign-backed export credit guarantees and buyer-insolvency insurance.

Regional players

• Bpifrance: French public investment bank and export credit provider serving primarily French exporters under EU state-aid rules — comparable ECA-style mandate but concentrated in French/European deals rather than Indian exporters.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Export Credit Guarantee Corporation of India