EXIM Bank to tap MSME potential

October 20, 2015 12:00 am | Updated 05:51 am IST - VISAKHAPATNAM:

With the Centre deciding to double exports to 900 billion dollars by 2020, the Export-Import Bank of India, popularly known as EXIM Bank, will focus on globalisation of services and products from the MSME.

EXIM Bank Executive Director N. Shankar said on Monday that they were holding a series of interactions with MSME representatives to explore their huge potential to make profits in the overseas market.

He said over 40 per cent exports from the country was being made by the MSME sector, and there was scope to raise it further.

He told The Hindu after a seminar on enhancing foreign trade in India organised here by EXIM Bank and Federation of Indian Export Organisations (FIEO) that they had emerged as a key player in encouraging cross-border trade involving the MSME.

He said they were offering a wide range of products and services, including advisory and R&D, at all stages of business cycle for the benefit of exporters.

The bank is funding from import of technology to export product development, marketing, pre-shipment and post-shipment, and overseas investment.

Mr. Shankar, who earlier served as Chairman of Export Credit Guarantee Corporation, said they were also laying emphasis on financing project exports and extending line of credit to promote exports, notwithstanding the fact that export scenario in recent times was hit by recessionary conditions in the West.

Export scenario

He said India’s share in the world exports was very low, and all-out efforts were being made with the Government of India identifying exports as a topmost priority area to earn more foreign exchange.

He said EXIM Bank was also focusing on facilitating Indian companies to float joint ventures in Cambodia, Laos, Myanmar, and Vietnam, and execute projects there.

Cluster approach

EXIM Bank General Manager Daya Chandrahas earlier told the exporters that they would adopt a cluster approach to encourage exports from the MSME sector.

Joint Deputy Director General of Foreign Trade (FIEO) K. Unnikrishnan said exports had registered negative growth during the past few years due to slump in the economy.

Over 40 per cent exports from the country is being made by the MSME sector, and there is scope to raise it further

N. Shankar

Executive Director, EXIM Bank

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