Solution

Export Credit Guarantee Corporation of India is administered by the Government of India through the Ministry of Commerce and Industry.  It is fundamentally an export promotion organization with a motive to enhance the competitiveness of Indian exports by offering them credit insurance covers.  ECGC was set up for ensuring the smooth functioning of Indian exporters by minimizing the risk associated with the payments emanating from other nations.  ECGC insurance covers also assist the Indian exporters with better access to credit facilities from banks and other financial institutions.  ECGC is the 5th largest credit insurance company dealing with the exports of any country. It also offers Overseas Investment Insurance to the Indian companies investing in Joint Ventures abroad in the form of loans or equity.   Therefore, ECGC is concerned with insurance.