Exports and project execution will be impacted by ECGC's refusal to provide new insurance coverage: Chamber PHD

PHDCCI President Saket Dalmia said that a number of project exporters have large export orders and have already signed contracts with foreign countries . Dalna said that the Government of India has called on the export community to increase exports and meet the USD 1 Trillion merchandise export target of 2030 .

In his detailed argument submitted to Finance Minister Nirmala Sitharaman, PHDCCI President Saket Dalmia said that a number of project exporters have large export orders and have already signed contracts with foreign countries, but that they are not in a position to execute the orders and start the initiatives due to the fact that EXIM bank is unable to make disbursements due to the non-availability of ECGC cover.According to PHDCCI President Saket Dalmia, this is negatively affecting Indian exporters' overall success.Dalna said in his speech that the Government of India has called on the export community to increase exports and meet the USD 1 Trillion merchandise export target of 2030, in accordance with the Prime Ministers' call to Local goes Global.Saket Dalmia said that the ECGC cover must be strengthened to enable manufacturers and exporters to scale up export volumes and create more jobs in their factories for the growing young population in the region.According to PHDCCI President Saket Dalmia, this will not only enable exporters to carry out their orders and begin the activities as per the agreement, but also pave the way toward achieving the ambitious export target.

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