30 July 2014 :: 57th Foundation Day of ECGC : 30th of July 1957
The Export Credit Guarantee Corporation of India Limited (ECGC) was established on 30 July 1957 with an objective to provide insurance cover in respect of risks in export trade. These risk may include loss of money on account of foreign buyer becoming bankrupt or sudden import or exchange restrictions resulting in stopping of payments etc. The Export Credit Guarantee Corporation of India Limited is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Government of India had initially set up Export Risks Insurance Corporation (ERIC) in July 1957. It was transformed into Export Credit and Guarantee Corporation Limited (ECGC) in 1957 and to Export Credit Guarantee Corporation of India in 1983.
