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Exim Bank planning to establish linkage with technical institutes

Photo: K. Ananthan.

Business talk: Chairman and Managing Director of Export-Import Bank of India T.C. Venkat Subramanian speaks on ‘SMEs and Globalisation’ in Coimbatore on Monday. —

Coimbatore: Export-Import Bank of India (Exim) is in the process of establishing a linkage with technical institutes for research and development and product innovation. It is also for working closely with organisations such as Coimbatore District Small Scale Industries Association (CODISSIA), T.C. Venkat Subramanian, Chairman and Managing Director of Export-Import Bank of India said on Monday.

Addressing a meeting organised by the Bank and CODISSIA on Small and Medium Enterprises (SMEs) and Globalisation, Mr. Venkat Subramanian said that small scale sector can succeed only through innovation and product development.

He also stressed the need for institutional linkage for marketing such products.Citing the cluster model in Italy, Mr. Venkat Subramanian said that SMEs could replicate the model. “It is different as compared with our cluster models as the units there develop expertise/core competence in areas of operation while the clusters in India have a common pool approach.”

Of the total Gross Domestic Product , India’s export contributed only 15 per cent whereas it was 80 to 90 per cent in South East Asian countries and China accounted for 30 per cent.

Textiles, gems and jewellery contributed to the Indian exports but loss of jobs because of the global downturn has caused concern. Indian exports in terms of merchandise had grown only by 3.4 per cent.

Exim could offer help in letter of credit confirmation, in technological up-gradation, marketing and financial support. Even the World Trade was shrinking at 9 per cent in volume and 16 per cent in price and given the global economic environment, SMEs would have to change their strategies to sustain and survive, he said. Exim Bank would also support financing export transactions specifically, de-linking the balance sheet.

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