National Export Insurance Account (NEIA) scheme

• Government has undertaken a series of measures to provide a boost to the exports sector.
• It approved capital infusion 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.
• It has also approved capital infusion of ₹4,400 crore in ECGC Ltd (erstwhile Export Credit Guarantee Corporation of India Ltd) in five years starting from 2021-22.

National Export Insurance Account (NEIA) Scheme:

• NEIA Trust was established in 2006 to promote project exports from India that are of strategic and national importance.
• It promotes Medium and Long Term (MLT)/project exports by extending (partial/full) support to covers issued by ECGC to MLT/project export.
• Since its inception, NEIA has extended 213 covers, with a consolidated project value of Rs 53,000 crore, to 52 countries.

Significance of capital infusion

• 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.