Insurance hiccups for auto parts exporters to crisis-hit US cos...

Auto component manufacturers, who want to export their product to US-based factories of General Motors, Chrysler or Ford, will find it difficult to get insurance cover for their consignments from the state-owned Export Credit Guarantee Corporation (ECGC), the fifth largest export insurer globally. Auto part makers have been asking us to support exports to the US. We politely told them that they (GM, Chrysler and Ford) are in financial crisis, what is the use of sending exports. We are not keen on supporting such exports, said ECGC chairman cum managing director AV Muralidharan at the sidelines of a meeting organised ...

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