ECGC Ltd, a state-run export credit agency, has upgraded the risk rankings for 24 countries, significantly lowering insurance costs for Indian exporters. This move aims to protect exporters from potential impacts of US tariffs and encourage diversification into alternative markets like Latin America, the Middle East, Africa, and East Asia. The strategy supports India's broader trade diversification efforts, which have already shown growth in merchandise exports despite global economic uncertainties and protectionist policies.