US Ex-Im strengthens India ties

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24 June 2009

US Ex-Im and the Federation of Indian Chambers of Commerce and Industry have signed a memorandum of understanding to expand trade.

The Export-Import Bank of the United States (US Ex-Im) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have signed an agreement committing to work together to expand the trade relationship between their two countries.

US Ex-Im chairman and president Fred Hochberg and FICCI secretary general Dr Amit Mitra signed the Memorandum of Understanding (MoU) at a ceremony at US Ex-Im headquarters. Also attending the event were FICCI President...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%