Q. The Export Credit Guarantee Corporation of India (ECGC), under the Ministry of Commerce and Industry, primarily provides cover for:

[A] Short-term domestic trade risks only

[B] Medium- and long-term export credits against political and commercial risks in importing countries

[C] Reinsurance for agricultural exports exclusively

[D] Deposit guarantees for exporters' bank accounts

Answer: B
Notes:

Explanation: ECGC offers credit insurance for Indian exporters’ overseas projects, mitigating risks like non-payment due to political instability or commercial defaults in buyer countries, especially for medium/long-term contracts where reinsurance is limited.

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