India establishes new export credit fund

(Business Standard, New Delhi, 18 February 2006) From March, Indian exporters will get insurance coverage for long-term exports similar to those of their counterparts in the US, Australia, Belgium, Canada, France and Germany. The commerce ministry has moved to create a national export insurance account (NIEA) with a corpus of Rs 2,000 crore (US$448 million) to provide credit risk cover for medium and long-term exports.