National Export Insurance Account(NEIA) – UPSC Prelims

National Export Insurance Account(NEIA) Trust:
  • NEIA Trust was set up in 2006 by the Ministry of Commerce and Industry.
  • Aim: To ensure the availability of credit risk cover for projects and other high-value exports, which are desirable from the point of view of national interest but which Export Credit Guarantee Corporation of India (ECGC) is unable to underwrite due to capacity constraints.
  • Types of export transactions eligible for inclusion under NEIA:
    • Only such medium and long-term export projects which are viable and for which reinsurance is not available.
    • Exports to countries that are not likely to be covered on purely commercial considerations or are beyond country-exposure limits of ECGC or countries currently facing economic/political difficulties, but where Indian presence is required.
    • Transactions involving investments by Indian companies in overseas markets can be covered for the protection of their investments against expropriation risks and limited recourse covers (insolvency risks).
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