In order to provide a boost to the exports sector, the Government has approved continuation of the National Export Insurance Account (NEIA) scheme and infusion of Rs 1,650 crore Grant-in-Aid over 5 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.
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 at full capacity utilization that in turn will translate into an estimated output of domestically manufactured goods to the tune of Rs 25,000 crore approximately.
