SC Cancels Chhota Rajan's Bail in 2001 Jaya Shetty Murder Case  ||  NCLAT: Workmen Can Claim Dues Post-Layoff If They Worked After Corporate Debtor's Notice Issuance  ||  NCLAT: Debt Can be Proved Through Any Documentary Evidence, No Written Contract Needed.  ||  Madras HC: Railway Authorities Can't Deboard Valid-Ticket Passengers Heading to Protest  ||  Delhi HC: Women’s Entry into Army Corps Can’t be Restricted; Vacant Male Posts Must be Open to Women  ||  Delhi HC: Pressuring Husband to Cut Ties With His Family Amounts to Cruelty; Ground For Divorce  ||  Bombay HC: Magistrate Need Not Pass Preliminary Order U/S 145 CrOC If HC or SC Directs Inquiry  ||  Delhi HC Allows Woman to Terminate 22-Week Pregnancy from False Promise of Marriage  ||  Supreme Court: Reasons Omitted In an Order May be Considered In Specific Circumstances  ||  SC: Execution of Arbitral Award Cannot be Stalled Just Because Section 37 Appeal is Pending    

Government approves continuation of the National Export Insurance Account (NEIA) scheme - (29 Sep 2021)

Customs

In order to provide a boost to the exports sector, Government has undertaken a series of measures. In line with this objective, the Government has approved capital infusion of Grant-in-aid (Corpus) of ₹1,650 Crore to National Export Insurance Account (NEIA) over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026. This decision is part of a series export related schemes and initiatives taken by the Government over the last few years. The capital infusion in NEIA Trust will help the Indian Project Exporters (IPE) to tap the huge potential of project exports in focus market. Support to project exports with Indian content sourced from across the country will enhance the manufacturing in India.

NEIA Trust was established in 2006 to promote project exports from India that are of strategic and national importance. The NEIA Trust promotes Medium and Long Term (MLT) /project exports by extending support to covers issued by ECGC (ECGC Ltd, formerly known as Export Credit Guarantee Corporation of India Ltd.) to MLT/project export and to Exim Bank for Buyer’s Credit (BC-NEIA) tied to project exports from India. Corpus contribution of Rs. 1,650 Crore will enhance the underwriting capacity of the Trust and will enable NEIA to support project exports worth Rs. 33,000 Crore.

The scheme supports projects which are commercially viable and are strategically significant. As per the official statement, the corpus commitment of GOI is Rs.4000 crore and Maximum Liability Permissible is 20 times of the actual corpus. The contribution received from the Government of India over the years, as of March 31,2021 was Rs.3,091 crore. Since inception, NEIA has extended 213 covers, with a consolidated project value of Rs. 53,000 crores, to 52 countries as of 31st August 2021. Further, Common Digital Platform for Certificate of Origin is also launched to facilitate trade and increase FTA utilization by exporters.

Tags : SCHEME   APPROVAL   CONTINUATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved