The National Export Insurance Account (NEIA) was set up by the Center to support the medium and long term exports. It will protect Indian exporters who are supplying infrastructure projects on credit basis from facing the risk of default on repayment.
The Central Government approved the capital infusion of Grant-in-aid of Rs.1,650 crore to the NEIA Trust over a period of five years from FY2021-22 to FY2025-2026. This will help Indian project exporters realize the full potential of project exports. It will also boost the manufacturing sector of India. It will support project exports worth Rs.33,000 crore and boost domestic manufacturing worth around Rs.25,000 crore.