High cost of Indian ECA coverage a hindrance to deeper India/Russia trade relations

(Financial Express, 23 April 2008, New Delhi) Indian Prime Minister Manmohan Singh indicated during last July’s G-8 Summit in St Petersburg that he wanted to force the pace of Indo-Russian cooperation. Amongst the factors inhibiting trade are credit risk, the high cost of India`s Export Credit Guarantee Corporation (ECGC) cover, insurance and the Russian ban on farm imports.