Exim Bank. Export-Import Bank of India

PRESS RELEASES

Outward Direct Investments (ODI) In Manufacturing Declines: Exim Bank Study

Outward direct investments (ODI) from India have undergone a considerable change not only in terms of magnitude but also in terms of geographical spread and sectoral composition. ODI has been playing an increasingly important role in enhancing the global competitiveness of Indian firms, inter alia, by, providing access to strategic assets, technology, skills, natural resources and market. An Exim Bank study titled ‘Outward Direct Investment from India: Trends, Objectives & Policy Perspectives’, observes that India’s outward investment increased from US$ 1.0 billion in 2001-02 to US$ 30.9 billion in 2011-12. RBI data indicates that a significant amount of this investment has been going to countries like Mauritius, Singapore, British Virgin Islands and the Netherlands. The study notes that while in themselves, these countries are neither large enough nor do they have significant domestic markets to warrant the amount of investments witnessed over the years by Indian entities, they do provide considerable amount of tax benefits which make them attractive destinations for onward routing of investments into third countries. The ultimate destination of investments is not captured in the RBI data and hence may not accurately reflect the extent of the linkages between India and the rest of the world in terms of actual outward investments.

 


In terms of sectoral dispersion, the study points out that it has primarily been the manufacturing sector that has been the favoured choice for Indian ODI , across most of the last decade, although its significance has gradually been waning. Thus, while the share of manufacturing sector in India’s ODI was 59.8% in 2003-04, its share declined to 31.5% in 2011-12. Within manufacturing, refined petroleum products were the largest category (in terms of cumulative investments), followed by pharmaceuticals, medicinal chemical and botanical products, and motor vehicles. While the sectoral dispersion has remained fairly stable during this period, the notable change has been the emergence of fabricated metal products (except machinery and equipment) and special purpose machinery among the major segments of Indian overseas investment during the latter part of the decade.

 


The study has also undertaken a primary research on the motives of India ODI which indicates varied objectives, ranging from low labour cost advantages in the host country and saturation of the Indian market to the need to enhance their export-competitiveness in third country markets and to exploit the domestic market potential in other countries. However, a clear outcome that emerges from the survey based research undertaken in the study is that overseas investment activities of Indian companies are motivated essentially by a set of firm-specific objectives and could range from acquisition of brands and technology to securing resources.

 


The study opines that the Government can play a proactive role in encouraging cross-border investments from India by drawing up an enabling policy environment. In this context, the study has drawn out a few suggestions like creating an institutional mechanism in the form of an Overseas Investment Promotion Council for promotion of ODI; earmarking separate funds for promoting cross border investments; and aligning bilateral investment treaties from the perspective of both inward and outward FDI. Further, presently, the data on ODI captures only the actual flow of funds rather than the ultimate destination of investment. Hence, the study recommends a granular analysis of ODI data, perhaps by the Reserve Bank of India, in an endeavour to monitor end use of such investments, thereby overcoming statistical inadequacy on ascertaining the actual investment destinations.

For further information, please contact 

Mr. Prahalathan Iyer,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22172704,
Fax: (022) 22182572.
E-mail:prahalathan@eximbankindia.in

Exim Bank Pays Rs. 339 Crore To Government As Balance Of Net Profit
Press Conference
Presenting the RTGS receipt of Rs. 339 crore as Balance of Net Profit transferred to the Government of India: Seen in the photograph (from left to right) Exim Bank’s Deputy Managing Directors Shri Debasish Mallick and Shri David Rasquinha and Exim Bank’s Chairman and Managing Director Shri Yaduvendra Mathur with Hon’ble Union Minister of Finance Shri Arun Jaitley.

Shri Yaduvendra Mathur, Chairman & Managing Director, Export-Import Bank of India (Exim Bank), presented an RTGS receipt of 339 crore to Hon’ble Union Minister of Finance, Shri Arun Jaitley, representing Balance of Net Profit transferred to the Government, for the financial year ended March 31, 2014. The Bank made a post-tax profit of Rs. 710 crore for the financial year 2013-2014. In the last five years, the Bank has transferred Rs. 1142 crore as Balance of Net Profit to the Government. Exim Bank’s paid-up capital is entirely subscribed by the Government of India.

Exim Bank’s principal objective is to finance export of projects, products and services from India through a variety of financing programmes including Lines of Credit to overseas entities and Buyer’s Credits to overseas importers. Exim Bank, in conjunction with ECGC, offers Buyer’s Credit under Government of India’s National Export Insurance Account (NEIA), under which the Bank finances project exports from India on medium to long term basis to foreign governments and government-owned entities, without recourse to Indian project exporters. Exim Bank also offers a comprehensive programme to support Indian investment overseas. The Bank is active in financing R&D, Innovation and Creative industries which have huge potential in diversifying India’s export basket. The Bank has separate Groups for supporting Small and Medium Enterprises and Rural Grassroots Business Initiatives. The Bank has put in place a Technology and Innovation Enhancement and Infrastructure Development (TIEID) Fund of US$ 500 million exclusively for MSMEs by partnering with banks/FIs. The objective of setting up the fund is to assist export-oriented micro, small and medium enterprises (MSMEs) with long-term foreign currency loans through other commercial banks.

For further information, please contact 

Ms. Deepali Agrawal,
Deputy General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) : 22172829,
Fax::(022) 22182572 .
E-mail:deepali@eximbankindia.in

David Rasquinha And Debasish Mallick Appointed As DMDs Of Exim Bank
Press Conference
Government of India has appointed Mr. David Rasquinha and Mr. Debasish Mallick as Deputy Managing Directors of the Export-Import Bank of India (Exim Bank). Prior to their appointments, Mr. Rasquinha was Executive Director of Exim Bank, while Mr. Mallick was the Managing Director and CEO of IDBI Asset Management Company Ltd.

A first class graduate in Economics and a post graduate in Business Management, Mr. Rasquinha joined Exim Bank in 1985 and since then has had a wide ranging exposure to the broad field of export credit, having worked in the areas of Treasury, Multilateral Agency Funded Projects, Planning & Research, Risk Management, Trade Finance, Project Finance and Project Exports. He was a member of an Exim Bank team that conducted a feasibility study for setting up an export credit agency for the Gulf Co-operation Council countries. He served as a member on the Working Group set up by Reserve Bank of India for working capital finance to software units. From 1999 – 2004, he served as Resident Representative at the Bank’s Washington DC Representative Office.

A post graduate in Economics and a Certified Associate of Indian Institute of Bankers, Mr. Mallick has nearly three decades of experience in the Banking industry. Immediately prior to joining the AMC, he was head of Personal Banking Business for IDBI Bank Ltd. (West Zone) which included distribution of Mutual Fund products. He also has long experience in the areas of Corporate Banking, International Banking, Resource Mobilization and Treasury among others.

For further information, please contact 

Ms. Deepali Agrawal,
Deputy General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) : 22172829,
Fax::(022) 22182572 .
E-mail:deepali@eximbankindia.in

Exim Bank Signs An Agreement For Cooperation On Innovation Financing With Other Member Development Banks Of BRICS Nations
Press Conference
Left to right: Mr. Luciano Coutinho, President of Brazil's BNDES, Mr. Yaduvendra Mathur, Chairman and Managing Director, Exim Bank of India, Mr. Vladimir Dmitriev, Chairman of Russia's Vnesheconombank, Mr. Hu Huaibang, Chairman of China Development Bank and Mr Patrick Dlamini, CEO, Development Bank of Southern Africa signed the agreement in the presence of Heads of States of the BRICS countries during the BRICS Summit 2014 in Fortaleza, Brazil on July 15, 2014.

Chairman and Managing Director of Exim Bank of India, Mr. Yaduvendra Mathur, signed a multilateral financial cooperation agreement for financing innovation, with Chairmen/Presidents of other member development banks of BRICS (Brazil, Russia, India, China, and South Africa) nations, in the presence of Heads of States/Governments of the BRICS countries on Tuesday, July 15, 2014, in Fortaleza, Brazil during the BRICS Summit 2014.

This Agreement is aimed at setting broader agenda for cooperation in the innovation financing sector, including exchange of information. The Agreement is expected to enhance cooperation among BRICS development banks and to significantly promote innovation investment amongst BRICS nations.

Mr. Mathur also addressed the Annual Meeting of the BRICS Financial Forum, under the BRICS Interbank Cooperation Mechanism, organised by Brazilian Development Bank (BNDES) as part of official agenda of the BRICS Summit. In his address, Mr. Mathur stated that BRICS nations are growing innovation economies, which is reflected in the statistical data associated with innovations in BRICS nations. Cumulatively, BRICS nations have spent USD 375 billion (in purchasing power parity terms) in the year 2013, which is 24 per cent of global R&D spending, which is projected to increase to USD 407 billion. The success ratio of grant of patents received by BRICS nations is about one-third, which also very high, Mr. Mathur said.

Exim Bank of India is the nominated member development bank under the BRICS Interbank Cooperation Mechanism. Other nominated member development banks from BRICS nations are: Banco Nacional de Desenvolvimento Economico e Social – BNDES, Brazil; State Corporation Bank for Development and Foreign Economic Affairs – Vnesheconombank, Russia; China Development Bank Corporation, and Development Bank of Southern Africa.

For further information, please contact 

Mr. Prahalathan Iyer,
Research & Planning Group
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) : 22172704,
Fax::(022) 22180743 .
E-mail:prahalathan@eximbankindia.in

Exim Bank Extends Line Of Credit Of USD 82 Million To Democratic Republic Of Congo
Press Conference
Mr. Yaduvendra Mathur, Chairman & Managing Director, on behalf of Exim Bank concluding Line of Credit Agreement for USD 82 million with H.E Mr. François BALUMUENE NKUNA, Ambassador of the Democratic Republic of Congo in India, on behalf of the Government of the Democratic Republic of Congo in the presence of officials of the Embassy of Democratic Republic of Congo in India and Exim Bank.

Export-Import Bank of India [Exim Bank] has, at the behest of Government of India, extended a Line of Credit [LOC] of USD 82 million to the Government of Democratic Republic of Congo for financing completion of the Ketende hydroelectric project in Democratic Republic of Congo. The LOC Agreement to this effect was signed in New Delhi by Mr. Yaduvendra Mathur, Chairman & Managing Director, on behalf of Exim Bank and H.E Mr. François BALUMUENE NKUNA, Ambassador of the Democratic Republic of Congo in India, on behalf of the Government of Democratic Republic of Congo, in the presence of officials of Embassy of Democratic Republic of Congo in India and Exim Bank.

With the signing of the above LOC Agreement for USD 82 million, Exim Bank, till date, has extended five Lines of Credit to Democratic Republic of Congo, at the behest of the Government of India, taking the total value of LOCs extended to USD 350.50 million. The first LOC of USD 33.50 million was extended to the Government of the Democratic Republic of Congo in August 2005 for financing supply of buses, spare parts, cement project, hydraulic excavators in Democratic Republic of Congo. The second LOC of USD 25 million was extended to the Government of Democratic Republic of Congo in August 2009 for financing supply of hand pumps, drilling rigs, submersible pumps, DG sets and spare parts and equipment for workshops for execution of rural water supply project. The third LOC of USD 42 million was extended to the Government of Democratic Republic of Congo in August 2010 for financing Kakobola hydroelectric power project. The fourth LOC of USD 168 million was extended to the Government of the Democratic Republic of Congo in July 2011 for financing Katende hydroelectric power project. Democratic Republic of Congo is a West African country bordered by South Central Africa with a narrow strip of land on the northern bank of the Zaire River and is surrounded by the Republic of Congo and the Atlantic Ocean to the west, Angola and Zambia to the southeast, Tanzania, Burundi, Rwanda and Uganda to the east, South Sudan to the northeast and the Central African Republic to the north and northeast. The major items in India’s export basket to Democratic Republic of Congo are pharmaceuticals & fine chemicals, transport equipment, machinery and instruments, manufactures of metals, meat and preparations, primary and semi-finished iron and steel.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporter, upfront upon the shipment of goods/ provision of services. With the signing of this LOC Agreement, Exim Bank has now in place 194 Lines of Credit, covering 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 10.61 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22162073
Fax: :[022] 22182460
E-mail: eximloc@eximbankindia.in

Exim Bank Extends USD 18 Million Line Of Credit To The Government Of Mauritius
Export-Import Bank of India (Exim Bank) has, at the behest of Government of India, extended a Line of Credit (LOC) of USD 18 million to the Government of Mauritius, for financing supplies from India. The LOC Agreement to this effect was signed in New Delhi by Ms. Geeta Poojary, General Manager, on behalf of Exim Bank and Mr. Radhakrishna Chellapermal, Deputy Financial Secretary, Ministry of Finance and Economic Development, on behalf of the Government of Mauritius.

This is the third Line of Credit extended to Mauritius by Exim Bank at the behest of the Government of India. Exim Bank had earlier extended an LOC of USD 48.50 million for financing an Offshore Patrol Vessel to be built by Garden Reach Shipbuilders & Engineers Ltd., Kolkata and an LOC of USD 46 million for financing purchase of specialized equipment and vehicles.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 193 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 10.53 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22162073
Fax: :[022] 22182460
E-mail: eximloc@eximbankindia.in

Exim Bank And Indian Council Of Cultural Relations Sign MoU For Establishment Of An India Studies Chair In Lagos Business School, Nigeria
Press Conference
Export-Import Bank of India (Exim Bank) and the Indian Council of Cultural Relations (ICCR) entered into a Memorandum of Understanding (MoU) for establishment of an ICCR-Exim Bank Chair in Lagos Business School, Pan Atlantic University, Lagos, Nigeria on Indian Financial Management, to promote knowledge and information about India’s capability in financial management, which would also serve to enhance and strengthen economic relations with Nigeria. The Memorandum of Understanding (MoU) was signed between Mr. Yaduvendra Mathur, Chairman and Managing Director, Exim Bank and Mr. Satish C. Mehta, Director General, ICCR on June 27, 2014 at New Delhi.

The ICCR-Exim Bank Chair of Indian Financial Management at the Lagos Business School, Nigeria envisages strengthening of bilateral socio-economic cooperation and academic linkages between India and Nigeria. Promotion of such academic and intellectual activities forms an integral aspect of bilateral cooperation. Exim Bank and ICCR, through the establishment of the Chair of Indian Financial Management, recognise the importance of strengthening and further promoting bilateral relations between India and Nigeria.

Exim Bank Extends Two Lines Of Credit Aggregating USD 82 Million To Togo
Press Conference
Mr. Yaduvendra Mathur, Chairman & Managing Director, on behalf of Exim Bank concluding two Lines of Credit Agreements aggregating USD 82 million with H.E Mr. Adji Otèth AYASSOR, Minister of Economy and Finance, on behalf of the Government of the Republic of Togo, on June 20, 2014, in the presence of Mr. Deepak Pathak, Director, Ministry of External Affairs, Government of India.

Export-Import Bank of India [Exim Bank] has, at the behest of Government of India, extended two additional Lines of Credit [LOCs] to the Government of the Republic of Togo viz. USD 30 million for financing rural electrification project to cover 150 localities in Togo and USD 52 million to the Government of Togo for setting up of 161 KV power transmission line in Togo. The LOC Agreements to this effect were signed in New Delhi, on Friday, June 20, 2014, by Mr. Yaduvendra Mathur, Chairman & Managing Director, on behalf of Exim Bank and H.E Mr. Adji Otèth AYASSOR, Minister of Economy and Finance, on behalf of the Government of the Republic of Togo, in the presence of Mr. Deepak Pathak, Director, Ministry of External Affairs, Government of India.

With the signing of the above two LOC Agreements aggregating USD 82 million, Exim Bank, till date, has extended four Lines of Credit to Togo, at the behest of the Government of India, taking the total value of LOCs extended to USD 110.095 million. The first LOC of USD 15 million was extended to the Government of the Republic of Togo in July 2011 for financing the rural electrification project in Togo. The second LOC of USD 13.095 million was extended to the Government of the Republic of Togo in December 2011 for financing farming and cultivation of Rice, Maize and Sorghum in Togo. Togo is a Western African country bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. In Africa, Togo is a member of the African Union, AfDB, Economic Community of West African States (ECOWAS) and West African Economic and Monetary Union (UEMOA). The major items in India’s export basket to Togo are cotton yarn fabrics made-ups, petroleum products, cereals, manmade filaments, iron and steel and pharmaceuticals. Some of the major items of import from Togo are crude fertiliser, metaliferrous ores & metal scrap, wood & wood products and cotton raw.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporter, upfront upon the shipment of goods/ provision of services. With the signing of this LOC Agreements, Exim Bank has now in place 192 Lines of Credit, covering 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 10.53 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22162073 / 2217 2310
Fax: [022] 22182460
E-mail: eximloc@eximbankindia.in

Exim Bank Organised Africa – India Partnership Day In Kigali, Rwanda
Press Conference
Dr. Emmanuel E MBI, First Vice President and Chief Operating Officer inaugurated the Africa-India Partnership Day, on May 22, 2014, at Kigali, Rwanda. Also seen in the photo are: Mr. Yaduvendra Mathur, IAS, Chairman and Managing Director, Exim Bank of India (Centre); Mr. Nilaya Mitash, Joint Secretary (MI), Department of Economic Affairs, Ministry of Finance, Government of India (Second from Right); Ms. Abhilasha Mahapatra, Director (PPP Cell), Department of Economic Affairs, Ministry of Finance (Extreme Right); and Mr. Heikki Tuunanen, Executive Director (NI) at AfDB (Second from Left).

Export-Import Bank of India together with FICCI (Federation of Indian Chambers of Commerce and Industry) organized Africa – India Partnership Day, in Kigali, Rwanda, on May 22, 2014, as part of Annual Meeting of African Development Bank Group, with the objective of sharing India's developmental experiences with Africa, particularly in Public-Private Partnership model of financing infrastructure development. A high-level delegation from 20 Indian companies visited Kigali to participate in this event, and to demonstrate their capabilities and to share their experiences in development of infrastructure, particularly in energy and transportation sectors.

Speaking on the occasion, Mr. Yaduvendra Mathur, CMD, Exim Bank, stated that Africa needs to reduce transaction costs in business operations, through infrastructure development; emphasize investment in knowledge and skill formation for enhanced productivity and competitiveness; and build institutional capacities to develop private corporate sector. India, which has undertaken several measures to overcome the developmental challenges, is keen to share its developmental experiences and capabilities with African region in areas that are keys to the continent’s development, Mr. Mathur said.

Dr Mbi Emmanuel Ebot, First Vice President and COO of African Development Bank highlighted the huge infrastructure deficit faced by Africa, particularly, the density of roads and railway network in Africa, which is far lower than the rest of the world. Learning from Asian experiences, particularly of India, could be of significant value for Africa, Dr. Mbi said. Innovative ways of financing is the need of the hour when there are financing gap in infrastructure investment, Dr. Mbi further added. However, a proper institutional mechanism and conducive framework is required to make successful PPP projects, Dr. Mbi opined.

Mr. Nilaya Mitash, Joint Secretary in the Department of Economic Affairs in the Ministry of Finance, Government of India, who was also the Temporary Governor representing India at the Annual Meeting of AfDB, stated that India has signed an MOU with the African Development Bank Group to share its knowledge and expertise in PPP model of infrastructure development. Under this arrangement, India has agreed to share model agreements and legal documents, to institutionalize PPP in African nations.

Sharing Indian experiences in implementing PPP, Mrs. Abhilasha Mahapatra, Director (PPP Cell), Department of Economic Affairs said that India has built institutional framework as also regulatory framework to make the PPP mode of attracting investments in infrastructure sector. This would be a key learning for Africa Mrs. Mahapatra said. AfDB could play a mediatory role in facilitating African nations to implement PPP model of infrastructure investments, leveraging the Indian experiences in attracting private investment in infrastructure, Mrs. Mahapatra said.

The event also had panel discussions on project development and financing in the energy and transportation sectors, with speakers from India and African nations. The event was attended by several dignitaries including ministers and senior officials from African nations, CEOs of developmental financial institutions, banks, corporate houses from Africa and India.

For further information, please contact
Mr. Prahalathan Iyer,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22172704
Fax: [022] 22180743
E-mail: prahalathan@eximbankindia.in

Exim Bank’s Study Highlights India’s Trade And Investment Potential In The East Africa Region
Press Conference
Release of Exim Bank's publication on “East African Community (EAC): A Study of India’s Trade and Investment Potential” at the hands of Mr. Mbi Emmanuel Ebot, First Vice President and Chief Operating Officer of African Development Bank (AfDB), at Kigali, Rwanda, on May 22, 2014, at the “Africa - India Partnership Day”, held during AfDB Group Annual Meetings 2014. Mr. Nilaya Mitash (Third from right), Temporary Governor, representing India, and Joint Secretary (MI), Department of Economic Affairs, Ministry of Finance, Government of India received the first copy of the publication. Also seen is Mr. Yaduvendra Mathur (Second from right), Chairman and Managing Director, Exim Bank

Export-Import Bank of India (Exim Bank)’s study on “East African Community (EAC): A Study of India’s Trade and Investment Potential” was released at the hands of Mr. Mbi Emmanuel Ebot, First Vice President and Chief Operating Officer of African Development Bank (AfDB), at Kigali, Rwanda, on May 22, 2014, at the “Africa - India Partnership Day”, held during AfDB Group Annual Meetings 2014.

Exim Bank’s latest study highlights that the East African Community (EAC) region recorded robust economic performances in the recent years, with a robust growth of 5.3 percent in 2012. Exports of the EAC have increased to US$ 13.8 billion in 2012 from US$ 2.8 billion in 2002, while imports have also witnessed almost 6-fold increase to US$ 35.4 billion in 2012 from US$ 6.1 billion in 2002. Accordingly, the global trade of EAC increased over 5-fold from US$ 8.9 billion in 2002 to US$ 49.3 billion in 2012.

The study draws attention to the fact that India’s trade and investment relations with the EAC region have strengthened in recent years, and present opportunities to further enhance bilateral commercial relations. Bilateral trade between India and the EAC has risen 13-fold, from US$ 490.8 mn in 2002 to US$ 6.6 billion in 2012. India’s exports to the EAC countries have risen significantly by 16-fold from US$ 369.3 mn in 2002 to touch US$ 5.9 billion in 2012. As a result, the share of the EAC countries in India’s total exports to Africa has risen from 12.2 percent in 2002 to a healthy 21.7 percent in 2012. India’s imports from the EAC region have also risen over 5-fold from US$ 121.5 mn in 2002 to US$ 624.1 mn in 2012, accounting for 1.5 percent of India’s total imports from Africa.

Potential items for India’s exports to the EAC region would include, among others, petroleum products, machinery and instruments, electrical and electronic equipment, vehicles other than railway, cereals, animal, vegetable fats and oils, iron & steel, and plastics. Potential sectors for India’s investment in the region would include, among others, agriculture, horticulture, manufacturing, construction, energy, banking and other financial services, information and communication technology (ICT) and tourism.

The study has also delineated broad strategies and recommendations to enhance India's commercial relations with the EAC region, which include cooperation in key sectors, including: transport related infrastructure; meeting power and energy requirements of EAC; financial/ banking sector development; agriculture and food security; capacity building, technology transfer and human resource development; ICT and knowledge sharing; environment and natural resources development and management; industry and micro, small and medium enterprises (MSME) development; hospitality industry; multilateral funded projects; and in developing linkages with trade promotion institutions / investment promotion agencies / chambers of commerce.

For further information, please contact
Mr. David Sinate,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22172701
Fax: [022] 22180743
E-mail: dsinate@eximbankindia.in

Exim Bank Extends Line Of Credit Of USD 100 Million To The Government Of The Federal Republic Of Nigeria
Press Conference
Mr. Yaduvendra Mathur, Chairman & Managing Director on behalf of Exim Bank concluding the Line of Credit Agreement for USD 100 million with Dr. Ms. Ngozi Okonjo-Iweala, Coordinating Minister for the Economy / Honourable Minister of Finance, on behalf of the Government of the Federal Republic of Nigeria, at the 49th Annual Meetings of the African Development Bank Group at Kigali, Rwanda.

Export-Import Bank of India [Exim Bank] has, at the behest of the Government of India, extended a Line of Credit [LOC] of USD 100 million to the Government of the Federal Republic of Nigeria, for financing three projects; [i] supply and commissioning of transmission lines, distribution transformers for 96 communities in three senatorial zones of Enugu State; [ii] Substation including solar mini grid electrification and solar street lighting in the state of Kaduna and [iii] construction of 2 x 26 MW gas-based power plant in the cross river state in the Delta Region of the southern part of Nigeria. The LOC Agreement to this effect was signed in Kigali, Rwanda on Thursday, May 22, 2014, by Mr. Yaduvendra Mathur, Chairman & Managing Director on behalf of Exim Bank and Dr. Ms. Ngozi Okonjo-Iweala, Coordinating Minister for the Economy / Honourable Minister of Finance, on behalf of the Government of the Federal Republic of Nigeria, during the 49th Annual Meeting of the African Development Bank Group at Kigali, Rwanda.

This is the first LOC to the Government of the Federal Republic of Nigeria. Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon the shipment of equipment and goods / provision of services. Major export items from India to Nigeria are transport equipment, machinery and instruments, pharmaceuticals and non-basmati rice, electronic goods, and manufacture of metals.

With the signing of this LOC Agreement, Exim Bank has now in place 190 Lines of Credit, covering 76 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over USD 10.43 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and projectexecution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22162073 / 2217 2310
Fax: [022] 22182460
E-mail: eximloc@eximbankindia.in

Exim Bank Posts Strong Business Growth In 2013-14
Press Conference
Export-Import Bank of India's Chairman and Managing Director Mr. Yaduvendra Mathur declared the Bank's results, for the financial year 2013-14, in Mumbai on Wednesday, APRIL 30, 2014. Also seen in the picture is the Bank's Executive Director Mr. David Rasquinha.

Loan Portfolio of the Bank grows 16% to ` 75,873 crore

FINANCIAL PERFORMANCE

Loan Portfolio        Up 16% to ` 75,873 crore.
Non-Fund Portfolio Up 22% to ` 9,426 crore.
Net worth of the Bank Up 15% to ` 8,310 crore.
Return on Capital to the Central
Government 
Up 29% to `  339 crore.
Total Business  Up 14% to ` 1,56,782 crore.
Capital to Risk Assets Ratio       14.32%
Net NPAs  0.43% (80% provision cover)

 

  • Lines of Credit aggregating US$ 1,771.75 million (24 new LOCs during the year) were extended to support export of projects, goods and services from India. 189 LOCs, covering 75 countries in Africa, Asia, CIS, Europe and Latin America, with credit commitments aggregating US$ 10.33 billion are currently available for utilisation, while a number of prospective LOCs are at various stages of negotiation.
  • Project Export Contracts supported by Exim Bank in 2013-14, amounted to ` 34,131 crore, which were secured by 40 companies in 35 countries. As on March 31, 2014, 319 project export contracts valued at ` 1,40,326 crore (approx. US$ 23.42 billion) supported by the Bank, were under execution, in 74 countries across Asia, Africa and CIS by 99 Indian companies.
  • Buyer’s Credit – National Export Insurance Account (BC-NEIA): The Bank has till date sanctioned an aggregate amount of US$ 444 million for 5 projects valued US$ 520 million under Buyer’s Credit – National Export Insurance Account (BC-NEIA). The Bank has also given in-principle commitments for supporting several projects and the current active pipeline includes 54 projects aggregating US$ 7.43 billion under BC-NEIA.
  • Overseas Investment assistance was sanctioned to 42 corporates aggregating ` 6,456 crore for financing their overseas investments in 37 countries. So far, Exim Bank has provided finance to 494 ventures set up by 391 companies in 80 countries
  • Profit before tax (PBT) and profit after tax (PAT) of the Bank were at ` 1,020 crore and ` 710 crore respectively during the year 2013-14.


RESOURCES/TREASURY

 

  • During the year, the Bank raised borrowings of varying maturities comprising rupee resources of ` 22,654 crore and foreign currency resources of ` 19,238 crore equivalent.
  • The Bank is rated investment grade, on par with the country’s Sovereign rating. As on March 31, 2014, the Bank was rated Baa3 (Stable) by Moody's, BBB-(Negative) by Standard & Poor’s, BBB- (Stable) by Fitch Ratings and BBB+(Negative) by Japan Credit Rating Agency (JCRA). The Bank's Rupee debt instruments continued to enjoy the highest rating viz. AAA rating from the rating agencies, CRISIL and ICRA.


NEW BENCHMARKS IN THE INTERNATIONAL CAPITAL MARKETS

  • The Bank issued US$ 500 million RegS Eurodollar bonds for a tenor of 5.5 years in March 2014. These bonds are included in the Emerging Market Bond Index (EMBI).
  • The Bank raised US$ 320 million equivalent by way of issue of Uridashi Bonds (a bond denominated in a foreign currency and sold directly to Japanese household investors) in three different currencies viz., Turkish Lira, Japanese Yen and Mexican Peso thereby achieving diversification of investor base. The Bank has now tapped the Uridashi Bond market on three occasions and continues to be the only Indian entity in this market.


NEW INITIATIVES

  • Exim Bank’s Project Development Company: The Bank will set up a Project Development Company (PDC) in Africa, which will essentially look to bring infrastructure projects in Africa to a bankable stage and facilitate exports from India to Africa. This is the first time Exim Bank is looking to set up a PDC and also the first time in Africa.
  • Exim Bank’s presence in Myanmar: To bolster bilateral trade and investment between India and Myanmar, the Bank opened its eighth Representative Office in Yangon, Myanmar, becoming the first Government-owned Exim Bank in the World to set up its operations in Myanmar.
  • • Seminars with AfDB for Indian companies: Given increased interest of Indian consultants, contractors and suppliers in many developing countries, the Bank has organized a series of interactive seminars on business opportunities in projects funded by the World Bank Group and the African Development Bank Group (AfDB) at New Delhi, Mumbai and Hyderabad.
Exim Bank Signs MOU With ITC To Promote India-Africa Trade
Press Conference
Exim Bank’s Chairman and Managing Director Mr. Yaduvendra Mathur at the signing of an MoU with the Executive Director of the International Trade Centre Ms. Arancha González to promote trade and investment between India and East Africa through the support of SMEs in their access to finance.

The Export-Import Bank of India (Exim Bank) signed a Memorandum of Understanding (MOU) with the International Trade Centre (ITC) in Geneva on 26 March 2014. The MOU will strengthen collaboration between ITC and Exim Bank to help increase enterprise and sector competitiveness and promote capacity-building in trade intelligence, including market analysis and research. The co-operation will also help foster trade support networks and business linkages between India and other countries, and improve the business environment.

ITC and Exim Bank will also co-operate on the project on Supporting India’s Trade Preferences for Africa (SITA), which will run from this year to 2020. The six-year project is aimed at promoting exports from five East African countries – Ethiopia, Kenya, Rwanda, the United Republic of Tanzania and Uganda – to India through investment and skills transfer from the Indian side. SITA, which is funded by the United Kingdom’s Department for International Development (DFID), will be driven by the Indian private sector and supported by the public sector.

Exim Bank’s Chairman and Managing Director Mr. Yaduvendra Mathur said there is tremendous value in engaging SMEs and supporting Indian investments in East Africa. “There is a huge appetite in leveraging the global value chain for the commodities and services sector for the export market,” said Mr Mathur. “There are already Indian firms with a presence in East Africa and EXIM Bank is ready to support trade development through South-South co-operation,” he said.

“We are pleased to partner with Exim Bank to promote private sector growth, particularly for SMEs in India and Africa through the SITA project which promotes trade across the Indian Ocean,” said ITC Executive Director Ms. Arancha González. “There is huge potential for trade and investment through this public-private partnership,” said Ms. González.

For further information, please contact
Mr. David Sinate,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: [022] 22172701
Fax: 91-22-22180743
E-mail: dsinate@eximbankindia.in

Exim Bank Organises Product Development Workshop For Pochampally Weavers
Press Conference
Exim Bank organized a 10-day product development training programme in Pochampally in association with NCDPD. Over 50 weavers, a majority of them women participated in the programme.

POCHAMPALLY: Export-Import Bank of India (Exim Bank) in association with National Centre for Design and Product Development (NCDPD) recently organized a Product Development program for weavers and technicians in Pochampally, Andhra Pradesh.

Over 50 artisans, including 42 women participants with various skill sets were trained by young and enterprising women designers from NCDPD at the 10-day workshop organised earlier this month. The objective of the workshop was to develop skills, provide support leading to promotion of domestic as well as international business opportunities, and to improve the livelihood and economic status of weavers and technicians. The products with IKAT designs (a traditional technique used by the artisans in the region) got a modern touch during the training programme.

Ms. Deepali Agrawal, Deputy General Manager, Exim Bank, emphasized that the Bank has been working towards capability creation of artisans, helping them to reach the global markets. Mr. K. Devender, Chairman, Pochampally Handloom Park, mentioned that the sharing of ideas by designers would help artisans create innovative products which would have a wider market. Mr. Damoder Seetha, CEO, Pochampally Handloom Park, stated that the Workshop provided much needed impetus to the weavers (mostly women) which helped them in designing new products.

The products developed during the training programme included home furnishings like curtains, table covers, cushion covers, utility related boxes, tissue paper boxes, photo frames, ladies bags etc. Innovative products like belts, necklaces were also designed from waste material. NCDPD designers used common wastes of threads and fabric bits, which are mostly discarded after weaving, in making innovative products. Designers incorporated jute and other natural materials along with existing cotton IKAT designs.

Exim Bank of India through its Marketing Advisory Services plays a promotional role to create and enhance export capabilities and international competitiveness of Indian companies. Exim Bank assists in identification of opportunities overseas and seeks to help Indian exporting forms in their globalization efforts by proactively assisting in locating overseas distributors / buyers / partners for their products and services.

Exim Bank Extends Line Of Credit Of USD25 Million To The Government Of Niger
Press Conference
Export-Import Bank of India [Exim Bank] has, at the behest of the Government of India, extended a Line of Credit [LOC] of USD 25 million to the Government of Niger for financing Potable Water for Semi Urban and Rural Communities in Niger. The LOC Agreement to this effect was signed in New Delhi, India on Friday, March 14, 2014, by Mr. Yaduvendra Mathur, Chairman & Managing Director on behalf of Exim Bank and H.E. Mr. Amadou Boubacar CISSE, Senior Minister of Planning, Land Management and Community Development, on behalf of the Government of Niger, in the presence of Ambassador of Government of Republic of Niger to India H.E. Mr. Ali ILLIASSOU and Joint Secretary,Ministry of External Affairs, Government of India Mr. Alok K. Sinha.

This is the fourth LOC extended by Exim Bank to Niger at the behest of the Government of India. The first LOC of USD 17 million was extended for acquisition of buses, trucks, tractors, motor pumps, flourmills in Niger. The second LOC of USD 20 million was extended for rehabilitation of six-power stations, purchase of power transformers and rehabilitation as well as erection of power lines in Niger and the third LOC of USD 34.54 million was extended for solar electrification and setting up solar photovoltaic system.

Niger, located in West Africa, is surrounded by Nigeria and Benin to the south, Burkina Faso and Mali to the west, Algeria and Libya to the north and Chad to  the east. Major export items from India to Niger are pharmaceutical products, cereals, cotton, machinery and instruments, sugar and sugar confectionery and miscellaneous edible preparations.

With the signing of this LOC Agreement, Exim Bank has now in place 189 Lines of Credit, covering 75 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over USD 10.33 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

Exim Bank’s Study Highlights India’s Trade Potential With The SADC Region
Press Conference
Export-Import Bank of India’s recent publication on “Enhancing India’s Trade Relations with Southern African Development Community (SADC): A Brief Analysis” being released at the hands of Rt. Hon. Dr. Motsoahae Thomas Thabane, the Hon’ble Prime Minister of the Kingdom of Lesotho, in the presence of the Hon’ble Minister of Commerce and Industry, Government of India, Mr. Anand Sharma, and Ms. Arancha Gonzalez, Executive Director, International Trade centre, on March 09, 2014, during the inaugural session of the 10th CII-Exim Bank Conclave on India-Africa Project Partnership held in New Delhi

Export-Import Bank of India (Exim Bank)’s recent publication on “Enhancing India’s Trade Relations with Southern African Development Community (SADC): A Brief Analysis” was released at the hands of Rt. Hon. Dr. Motsoahae Thomas Thabane, the Hon’ble Prime Minister of the Kingdom of Lesotho, in the presence of the Hon’ble Minister of Commerce and Industry, Government of India, Mr. Anand Sharma, and Ms. Arancha Gonzalex, Executive Director, International Trade Centre, on March 09, 2014, during the inaugural session of 10th CII-Exim Bank Conclave on India-Africa Project Partnership held in New Delhi. The CII-Exim Bank conclave saw representations from over 40 African countries with participation of more than 500 delegates, including head of states, senior ministers, diplomats and entrepreneurs from both India and African countries.

Exim Bank’s latest study highlights the increasing importance of SADC region in the African continent. The region accounted for 32.5% of total land area of Africa, 27.2% of total population of Africa and is the largest contributor of gross domestic product (GDP) to the African region, to the tune of 32.1%. In fact, reflecting the increasing globalization of the economies in SADC region, SADC’s global trade has witnessed significant upward trend in recent years. During the period 2001 to 2012, SADC’s total trade have risen almost 5-fold, from US$ 88.7 bn in 2001 to US$ 395.5 bn in 2012, growing at a compound annual growth rate of 13.4% over the period. The Study covers all the 15 member countries namely, Angola, Botswana, DR Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe. 

The study draws attention to the fact that India’s trade relations with the SADC region have strengthened in recent years, and presents opportunities to further enhance bilateral trade relations. The study highlights that two-way trade between India and SADC countries has witnessed a robust 12-fold rise from US$ 2.3 bn in 2001 to touch US$ 27.1 bn in 2012.  While India’s total exports to SADC have risen from US$ 0.7 bn in 2001 to US$ 9.7 bn in 2012, India’s total imports from SADC have also risen from US$ 1.5 bn to US$ 17.5 bn, thus resulting in higher trade deficit with SADC region, which has risen over 9-fold from US$ 0.8 bn in 2001 to touch     US$ 7.8 bn in 2012.

 

While India has emerged as the third largest export destination for SADC, India however, ranks as the fifth largest source for SADC’s imports, highlighting the potential for further enhancing India’s exports to SADC.  Potential to enhance India’s exports to SADC can also be assessed from the fact that, despite the increasing trend in India’s exports to SADC, India’s share in the import basket of major importers in SADC is still marginal. For instance, India accounts for a marginal 0.7% share in Botswana’s total imports; 0.8% share in Namibia’s total imports; 1.8% share in Zimbabwe’s total imports; 2.3% share in DR Congo’s total imports; 2.6% share each in case of Angola’s and Zambia’s total imports; and 4.9% share in South Africa’s imports in 2012.

The study draws attention to the fact that with a view to balancing the burgeoning trade gap between India and SADC, there is need for increased focus on India’s export potential to the major countries in SADC with which India maintains the largest and rising trade deficit as also other countries in SADC, based on projected growth of imports, projected growth of GDP and size of the market. 

To enhance India’s exports to SADC, while also addressing the issue of rising trade deficit, Exim Bank’s study attempts to identify potential focus items for increased exports to countries in SADC, based on India’s export capability and import demand in these countries, up to the 6-digit level of HS code classification.

Growth In Hi-Tech Exports Will Boost The Manufacturing Sector: Exim Bank Study
Press Conference
Despite India’s early development strategy of creating a well diversified industrial base focused on manufacturing, acceleration of manufacturing growth and the desired dynamism has thus far remained elusive. The share of India’s manufacturing sector stands at 13.5 per cent of GDP – a level which has remained stagnant over the past decade. India’s share in global manufacturing today is only 1.8 per cent. India ranks 52nd in terms of manufacturing value added as a percentage of GDP, lower than even Bangladesh. This has had adverse impact on the country’s trade deficit with limited ability to export manufactured products, especially the value added high-tech products and excessive reliance on imports for meeting domestic demand. This is in stark contrast to the experience of other Asian nations, particularly China, where manufacturing constitutes 34 per cent of national GDP and accounts for 13.7 per cent of world manufacturing — up from 2.9 per cent in 1991.

Taking cognizance of the need to boost the manufacturing sector in India, the Export-Import Bank of India (Exim Bank) has done an analysis of the potential of Hi-Tech exports from India. The study titled “India’s Hi-Tech Exports: Potential Markets & Key Policy Interventions” was released at the hands of Mr. Rajeev Kher, Commerce Secretary, Ministry of Commerce & Industry, Government of India at the 4th CII Export Summit held in New Delhi on February 20, 2014.

The study observes that hi-tech exports from India have been witnessing a significant CAGR of 26per cent during the period 2007-2011, with exports having touched US$ 20.9 billion as compared to US$ 8.1 billion in 2007. Pharmaceuticals and electronic goods sectors dominate exports of high-tech products, with the share of electronics in hi-tech exports almost doubling during the 2007-2011 period.

The paradox of heightened demand (both in domestic and export markets) and lagging production, signifies avenues for domestic capacity expansion. This will not only lead to augmenting exports but also reduce the country’s dependence on high-tech imports, thereby rendering the country’s trade deficit more manageable. 

The Exim Bank study elucidates select measures that may be considered to enhance hi-tech exports from India. These, inter alia, include setting up a credit facility by the Government on the lines of the Brazilian BNDES model exclusively for investments in hi-tech industries and providing preferential corporate income tax treatment for units manufacturing hi-tech products and meeting certain pre-defined criteria as is the case in China for their High-New Technology Enterprises.

The study has also examined successful development models of Chengdu in China and Colorado in USA, which despite being landlocked (away from ports by about 800 kms) have been able to become successful hi-tech manufacturing hubs. These have, over the years, increased their exports significantly, provided additional employment and generated higher tax revenues than neighbouring regions that have not adopted a hi-tech manufacturing strategy. These two examples indicate that hi-tech manufacturing is region-neutral and does not require large land area.

The Government has put a renewed focus on manufacturing with the National Manufacturing Policy envisaging increasing the share of manufacturing to 25 per cent of GDP by 2022. The study opines that giving thrust to value-added hi-tech exports needs to be an integral component of the strategy to achieve this target. 

Yaduvendra Mathur Appointed As CMD Of Exim Bank
Press Conference
Mr. Yaduvendra Mathur has been appointed by the Government of India as Chairman and Managing Director of Export-Import Bank of India (Exim Bank).  Prior to this appointment,
Mr. Mathur was Chairman and Managing Director, Rajasthan Financial Corporation, since 2011.

Mr. Mathur is an Indian Administrative Service Officer of the 1986 batch. A First Class Graduate in Economics and an MBA in Finance, Mr. Mathur has worked with Golden Tobacco and Associated Cement Companies in Mumbai between 1982 – 1984 before joining the Indian Revenue Services (Income Tax) in 1984 and then the IAS in 1986, topping his batch.

He has had long stints in various positions in the Finance Department including Principal Secretary Finance, Government of Rajasthan. During his postings under the Department of Economic Affairs (2001-2003) at Cote d'Ivoire and Tunisia, Mr. Mathur worked as Assistant to the Executive Director (representing India, Norway, Denmark, Sweden, Finland and Switzerland) of African Development Bank. He was then actively engaged with the Export-Import Bank of India in enhancing and promoting business opportunities for Indian companies in the African continent through Technical Cooperation Agreements. As Energy Secretary of Rajasthan for over three years, Mr. Mathur contributed in the setting up of three greenfield power plants in the state. He was also Planning Secretary, PHED Secretary and Director General Revenue Intelligence in Government of Rajasthan. He also has experience as Managing Director of a Textile Mill at Bhilwara and as Chairman of Indira Gandhi Canal Board. Mr. Mathur was Collector & District Magistrate of Bhilwara and Bharatpur and has also served for over three years as Senior Deputy Director at the Lal Bahadur Shastri National Academy of Administration, Mussoorie.

Mr. Mathur has interests in entrepreneurship development, infrastructure financing, regulatory issues and in behavioral sciences.

Prof. Kishore Mahbubani Delivers Exim Bank’s Commencement Day Annual Lecture 2014
Press Conference
Prof. Kishore Mahbubani, Dean and Professor in the Practice of Public Policy at the Lee Kuan Yew School of Public Policy of the National University of Singapore, delivered Exim Bank’s Commencement Day Annual Lecture in Mumbai on February 14, 2014. Also seen in the picture are Dr. Dilip M. Nachane, Member, Economic Advisory Committee to the Prime Minister, and Mr. David Rasquinha, Executive Director, Export-Import Bank of India.

In his Lecture, Prof. Mahbubani said, “By 2020, the global middle class will number 3.2 billion and 4.9 billion by 2030. In Asia alone, the middle class is expected to triple from 500 million in 2010 to 1.75 billion by 2020, accounting for 85 percent of global growth. Half of the global middle class will be Asian in 2020, and almost two thirds in 2030. This is an extraordinary development unprecedented in human history which has had and will continue to have enormous ramifications for our world. Again, however, this massive transformation has not been taking place as quickly in India. As of 2010, India’s middle class numbered 69.17 million people, or less than 6 percent of the total population. By contrast, the size of China’s middle class is currently estimated to be more than 300 million, or about the size of the entire population of the United States. These trends are rapidly closing the gap between the West and the rest, causing the “great convergence”. But we are experiencing not only a great convergence in material wellbeing, but also in our values and aspirations." 

He spoke at length about the changing dynamics in the geopolitical and economic scenario and elaborated on India's various areas of strengths. Prof. Mahbubani said, "India has a massive potential and considering the enormous surge made by many developing countries in the past three decades as part of the great global convergence, the time has come for Indian policymakers and the Indian public to work out a new consensus on the steps that India can and should take to return to the rates of 7 to 9 percent annual growth that India enjoyed in recent years".

Prof. Kishore Mahbubani has had the benefit of enjoying a career in government and, at the same time, writing extensively on public issues. He was with the Singapore Foreign Service for 33 years (1971-2004) where he had postings in Cambodia (1973-74), Malaysia, Washington DC and New York, where he served two postings as Singapore’s Ambassador to the UN and as President of the UN Security Council in January 2001 and May 2002. He was Permanent Secretary at the Foreign Ministry from 1993 to 1998.

Exim Bank’s Commencement Day Annual Lecture series, instituted in 1986, has earned recognition as an important milestone in contributing to the debate and discussions on contemporary trade and development issues impacting global economy. Dr. Dilip M. Nachane, Member, Economic Advisory Committee to the Prime Minister, presided over the Lecture.

Exim Bank Extends Two Locs Of USD 198.96 Million And USD 155 Million To Myanma Foreign Trade Bank (MFTB), Myanmar For Financing 18 Irrigation Projects (16 Ongoing And 2 Rehabilitation) And Procurement Of Rolling Stock Equipment And Upgradation Of Three M

Export-Import Bank of India [Exim Bank] has, at the behest of Government of India, extended two Lines of Credit [LOCs] of USD 198.96 million and USD 155 million to Myanma Foreign Trade Bank (MFTB), Myanmar for financing 18 irrigation projects (16 ongoing and 2 rehabilitation) and the Procurement of Rolling stock, equipment and upgradation of three major railway workshops in Myanmar respectively. The LOC Agreements to this effect were signed on Wednesday, December 11, 2013, by Mr. David Rasquinha, Executive Director, on behalf of Exim Bank and Mr. Nyi Phyu Hla, Managing Director, on behalf of Myanma Foreign Trade Bank.

With the above two LOCs, an aggregate of nine LOCs have been extended to MFTB. The earlier seven LOCs of value aggregating USD 247.43 million were extended to MFTB for financing railway projects, refinery projects, assembly/manufacturing plant of vehicles, transmission lines, upgradation of petrochemical complex in Myanmar.

Under the LOCs, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOCs will be used for sourcing of goods and services from India. Exim Bank has now in place 182 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 10.07 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India, Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005. Telephone: [022] 22162073 / 2217 2310,
Fax: [022] 22182460.
E-mail: eximloc@eximbankindia.in

Exim Bank CMD, Shri T. C. A. Ranganathan, Retires Shri Anurag Jain Assumes Charge As CMD, Exim Bank
Press Conference

Shri T. C. A. Ranganathan, Chairman and Managing Director of the Export-Import Bank of India (Exim Bank), relinquished his office, on attaining superannuation, on November 30, 2013. Shri Ranganathan served as the Chief Executive of the Bank since April 2010. Under the stewardship of Shri Ranganathan, Exim Bank has crossed significant milestones in business promotion as well as other initiatives as the premier export finance institution of the country.

Shri Anurag Jain, (IAS :1989), Joint Secretary (Financial Inclusion & CVO), Department of Financial Services, Ministry of Finance, has been appointed as Chairman and Managing Director of Export-Import Bank of India, till such time as a regular incumbent is appointed by the Government. Shri Anurag Jain is a graduate in Electrical Engineering from the Indian Institute of Technology, Kharagpur and holds a Masters degree in Public Administration from Maxwell School of Syracuse, USA. Shri Anurag Jain is on the Boards of Punjab National Bank, National Insurance Co. Ltd. and IFCI Ltd.

For further information, please contact:
Ms. Deepali Agarwal
Deputy General Manager
Export-Import Bank of India
Centre One, Floor 21,
World Trade Centre Complex,
Cuffe Parade, Mumbai 400 005.
Telephone: 022- 2217 2829;
Fax: 022- 2218 2572;
E-mail: ccg@eximbankindia.in

Exim Bank Inks Pact For Export Targeted Modern Irrigated Agricultural Project In The Republic Of Rwanda
Press Conference
Mrs. Geeta Poojary, General Manager, on behalf of Exim Bank, signing the Line of Credit Agreement for USD 120.05 million for Export Targeted Modern Irrigated Agricultural Project with H. E. Mr. GATETE Claver, Hon’ ble Minister of Finance and Economic Planning, Government of the Republic of Rwanda [sitting to the right] in the presence of H.E. Dr. Agnes Matilda Kalibata, Minister of Agriculture and Animal Resource, Government of Republic of Rwanda, Mr. S. N. Ray, Indian High Commissioner and senior diplomats from the Government of Republic of Rwanda, on October 26, 2013.

Export-Import Bank of India [Exim Bank] has, at the behest of Government of India, extended a Line of Credit [LOC] of USD 120.05 million to the Government of the Republic of Rwanda, for Export Targeted Modern Irrigated Agricultural Project and Extension of Export Targeted Modern Irrigated Agricultural Project. The LOC Agreement to this effect was signed in the Republic of Rwanda, on Saturday October 26, 2013, by Mrs. Geeta Poojary, General Manager, on behalf of Exim Bank and H. E. Mr. GATETE Claver, Hon’ble Minister of Finance and Economic Planning, Government of the Republic of Rwanda in the presence of H.E. Dr. Agnes Matilda Kalibata, Minister of Agriculture and Animal Resource, Government of Republic of Rwanda, Mr. S. N. Ray, Indian High Commissioner and senior diplomats from the Government of Republic of Rwanda.

This is the third LOC extended by Exim Bank to Rwanda at the behest of the Government of India. The Republic of Rwanda is a small landlocked country in the Great Lakes region of east-central Africa, bordered by Uganda, Burundi, the Democratic Republic of the Congo and Tanzania. Major export items from India to Republic of Rwanda are pharmaceutical products, machinery and instruments, transport equipment, manufactures of metals and plastic and linoleum products and readymade garments. Exim Bank has earlier extended to the Government of the Republic of Rwanda two LOCs aggregately valued USD 80 million, for financing Nyabarongo Power project in Rwanda.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 179 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 9.66 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22162073/22172310,
Fax:(022) 22182460.
E-mail : eximloc@eximbankindia.in

Exim Bank’s Study Highlights India’s Trade And Investment Potential In The CLMV Region
Press Conference
Exim Bank's latest publication on "India’s Trade and Investment Relations with Cambodia, Lao Pdr, Myanmar, Vietnam (CLMV): Enhancing Economic Cooperation" being released on October 22, 2013, at the hands of Mr. Rajeev Kher, Additional Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India during the CLMV business conclave held in New Delhi

Export-Import Bank of India (Exim Bank)'s publication on "India’s Trade and Investment Relations with Cambodia, Lao PDR, Myanmar, Vietnam (CLMV): Enhancing Economic Cooperation" was released at the hands of Mr Rajeev Kher, Additional Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India, on October 22, 2013 during the CLMV Business Conclave organised by CII in New Delhi.

Exim Bank's latest study highlights that the CLMV countries, which are endowed with abundant natural resources and low-waged labour forces, are among the fastest growing economies in the ASEAN region. The average real GDP growth of CLMV countries was 6.2% in 2012 as against 5.4% for ASEAN as a whole. Total trade of the CLMV region has risen more than five-fold from US$ 56 billion in 2003 to US$ 301 billion, while FDI inflows into the CLMV region was recorded at US$ 12.5 billion, accounting for 11.2% of total inflows in the ASEAN region.

The study draws attention to the fact that India's trade and investment relations with the CLMV region have strengthened in recent years, and presents opportunities to further enhance bilateral commercial relations. The study highlights that India's total trade with the CLMV countries has risen more than eight-fold in the last ten years, from US$ 0.9 billion in 2003 to US$ 7.8 billion in 2012. The study also highlights that the cumulative approved Indian direct investments in the CLMV region in joint ventures (JVs) and wholly owned subsidiaries (WOS), in equity, loans and guarantees issued, during April 1996 to March 2013, amounted to US$ 699.8 million, with the bulk of flows directed towards Vietnam (67.6% of total flows to the CLMV region).

Exim Bank's study identifies the potential items for India's exports to the CLMV region, which broadly include, inter alia, machinery; electrical and electronic equipment; transport vehicles; optical, photographic and medical apparatus; plastics and articles; iron and steel and its articles; rubber and articles; petroleum products and sugar and sugar confectionary.

The study has also delineated broad strategies and recommendations to enhance and foster India's commercial relations with CLMV region, which include, among others, cooperation in agricultural development, cooperation in infrastructure, cooperation in SME sector, and broadening linkages with trade and investment promotion institutions in the region.

With a view to enhancing and facilitating India's trade and investment relations with the CLMV region, Exim Bank has in place a comprehensive range of financing and support programmes to facilitate and promote bilateral commercial relations, which include lines of credit extended to a number of countries in the region. Exim Bank has supported Indian companies to execute a number of projects in the region, while also providing finance to Indian companies for setting up ventures in the region. Towards building institutional linkages in the CLMV region, Exim Bank has also signed an MOU with Investment and Trade Promotion Centre, Vietnam.

For further information, please contact
Mr. David Sinate,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex,
Cuffe Parade,
Mumbai - 400005
Telephone: 91-22-2218 2511
Fax: 91-22-22180743
E-mail: dsinate@eximbankindia.in

Exim Bank Inks Pact For Power Transmission And Distribution Project In The Republic Of Liberia
Press Conference
Mr. T.C.A. Ranganathan, Chairman & Managing Director, on behalf of Exim Bank, exchanging the Line of Credit Agreement for USD 144 million for Power Transmission and Distribution Project with Mr. Augustine Kpehe Ngafuan, Hon’ble Minister of Foreign Affairs, Government of the Republic of Liberia in the presence of Hon’ble President of the Republic of Liberia, Ms. Ellen Johnson Sirleaf and Hon’ble Prime Minister of India, Dr. Manmohan Singh, on September 11, 2013.

Export-Import Bank of India [Exim Bank] has, at the behest of Government of India, extended a Line of Credit [LOC] of USD 144 million to the Government of the Republic of Liberia, for Power Transmission and Distribution Project. The LOC Agreement to this effect was signed in New Delhi, on Wednesday September 11, 2013, by Mr. T.C.A. Ranganathan, Chairman & Managing Director, on behalf of Exim Bank and Mr. Augustine Kpehe Ngafuan, Hon’ble Minister of Foreign Affairs, Government of the Republic of Liberia in the presence of Hon’ble President of the Republic of Liberia Ms. Ellen Johnson Sirleaf and Hon’ble Prime Minister of India, Dr. Manmohan Singh, Ministers, senior diplomats from the Government of India and the Government of Republic of Liberia.

This is the first LOC extended by Exim Bank to Liberia at the behest of the Government of India. The Republic of Liberia is a country in West Africa bordered by Sierra Leone to its west, Guinea to its north and Côte d'Ivoire to its east. Major export items from India to Republic of Liberia are non-basmati rice followed by pharmaceuticals & fine chemicals, primary & semi-finished iron & steel, machinery and instruments, transport equipment, plastic & linoleum products and poultry products.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 177 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 9.51 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact

Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: 22162073/22172310,
Fax:(022) 22182460.
E-mail:eximloc@eximbankindia.in

Exim Bank Extends A USD 34.54 Million LoC To The Government Of Niger For Solar Electrification Of 30 Villages And Setting Up Solar Photo Voltaic System Of 5 Megawatt In Niger
Press Conference
Mrs. Geeta Poojary, General Manager, on behalf of Exim Bank, exchanging the Line of Credit Agreement for USD 34.54 million for solar electrification of 30 villages and for setting up solar photo voltaic system of 5 megawatt in Niger with H.E. Mr. Amadou Boubacar CISSE, Senior Minister of Planning, Land Management and Community Development, Government of Niger, on September 12, 2013.

Export-Import Bank of India (Exim Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 34.54 million to the Government of Niger for financing Solar Electrification of 30 villages and for setting up Solar Photo Voltaic System of 5 Megawatt in Niger. The LOC Agreement to this effect was signed in New Delhi, India on Thursday, September 12, 2013, by Mrs. Geeta Poojary, General Manager on behalf of Exim Bank and H.E. Mr. Amadou Boubacar CISSE, Senior Minister of Planning, Land Management and Community Development, on behalf of the Government of Niger, in the presence of officials from the Ministry of Finance and Ministry of External Affairs, Government of India.

This is the third LOC extended by Exim Bank to Niger at the behest of the Government of India. The first LOC of USD 17 million was extended for acquisition of buses, trucks, tractors, motor pumps, flourmills in Niger. The second LOC of USD 20 million has been extended for rehabilitation of six-power stations, purchase of power transformers and rehabilitation as well as erection of power lines in Niger. Niger, located in West Africa, is surrounded by Togo to the west, Nigeria to the east, Benin to the south, Burkina Faso and Mali to the west, Algeria and Libya to the north and Chad to the east. Major export items from India to Niger are pharmaceutical products, cereals, cotton, machinery and instruments, sugar and sugar confectionery and miscellaneous edible preparations.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 178 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 9.54 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22162073/2217 2310,
Fax: (022) 22182460.
E-mail: eximloc@eximbankindia.in

Exim Bank Extends USD 30.94 Million LOC To Lao PDR For Construction Of Storage Dams And Development Of Irrigation Systems.
Press Conference
Mr. David Rasquinha, Executive Director of Export-Import Bank of India (standing on the left) concluding the Line of Credit Agreement for USD 30.94 million for financing the Construction of Storage Dams and Development of Irrigation systems in four major provinces of Lao PDR with Mrs. Thipphakone Chanthavongsa, Director General, Ministry of Finance (standing on the right) on behalf of the Government of Lao PDR, at the 7th India-Lao Joint Commission Meeting on Bilateral Cooperation in Vientiane, Lao PDR in the presence of Hon’ble Union Minister of External Affairs of India, Mr. Salman Khurshid (sitting at the left) and Deputy Prime Minister and Hon’ble Minister of Foreign Affairs of the Government of Lao PDR, Dr. Thongloun Sisoulith (sitting at the right).

Export-Import Bank of India (Exim Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 30.94 million to the Government of Lao People's Democratic Republic (PDR), for financing the Construction of Storage Dams and Development of Irrigation systems in four major provinces of Lao PDR. The LOC Agreement to this effect was signed at the 7th India-Lao Joint Commission Meeting on Bilateral Cooperation in Vientiane, Lao PDR on Monday, September 9, 2013, by Mr. David Rasquinha, Executive Director, on behalf of Exim Bank and Mrs. Thipphakone Chanthavongsa, Director General, Ministry of Finance, on behalf of the Government of Lao PDR. The LOC Agreement was signed in the presence of Union External Affairs Minister Hon’ble Mr. Salman Khurshid and Hon’ble Dr. Thongloun Sisoulith, Deputy Prime Minister and Minister of Foreign Affairs of the Government of Lao PDR.

This is the fourth Line of Credit being extended to the Government of Lao PDR. Exim Bank had earlier extended three LOCs of value aggregating USD 122.89 mn to Government of Lao PDR for financing electric transmission line project, hydropower project, rural electrification and development of irrigation schemes in Lao PDR.

Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Lao PDR is in Southeast Asia, bordered by Myanmar and China to the northwest, Vietnam to the east, Cambodia to the south, and Thailand to the west. Exim Bank has now in place 176 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 9.37 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact

Mrs. Geeta Poojary,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005. Telephone: (022) 22162073/2217 2310,
Fax: (022) 22182460.
E-mail: eximloc@eximbankindia.in

Exim Bank Extends USD 42.61 Million LOC To Benin For Up-Gradation Of Water Supply Schemes In 69 Villages.
Press Conference
MR. DAVID RASQUINHA, EXECUTIVE DIRECTOR, ON BEHALF OF EXIM BANK EXCHANGING THE LINE OF CREDIT AGREEMENT FOR USD 42.61 MILLION FOR UP-GRADATION OF WATER SUPPLY SCHEMES IN 69 VILLAGES IN BENIN WITH H.E. MR. ANDRÉ SANRA, AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY OF THE REPUBLIC OF BENIN TO INDIA, ON BEHALF OF THE GOVERNMENT OF BENIN, IN NEW DELHI ON SEPTEMBER 06, 2013.

Export-Import Bank of India (Exim Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 42.61 million to the Government of Benin, for up-gradation of Water Supply Schemes in 69 villages in Benin. The LOC Agreement to this effect was signed in New Delhi, India on Friday, September 06, 2013, by Mr. David Rasquinha, Executive Director, on behalf of Exim Bank and H.E. Mr. André Sanra, Ambassador Extraordinary and Plenipotentiary of the Republic of Benin to India, on behalf of the Government of Benin, in the presence of Mr. Deepak Pathak, Director, Development Partnership Administration, Ministry of External Affairs, Government of India. This is the third LOC extended by Exim Bank to Benin at the behest of the Government of India. The first LOC of USD 15 million was extended for purchase of railway equipment, agricultural equipment and feasibility study for setting up a cyber city in Benin. The second LOC of USD 15 million has been extended for setting up a Tractor assembly plant and farm equipment manufacturing unit in Benin. Benin, located in West Africa, is surrounded by Togo to the west, by Nigeria to the east and by Burkina Faso and Niger to the north. The main items that India exports to Benin are petroleum products, followed by non-basmati rice, manufactures of metals, pharmaceuticals and manmade yarn fabric made-ups. The main items that India imports from Benin are raw cashew nuts, metaliferrous ores and metal scrap, wood and wood products, vegetable oil and petroleum crude. Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 175 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 9.34 billion, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. For further information, please contact Mrs. Geeta Poojary, General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: (022) 22162073/2217 2310, Fax: (022) 22182460. E-mail: eximloc@eximbankindia.in

 

Exim Bank Of India Opens Its Representative Office In Yangon, Myanmar

Standing from left H.E. Mr. Gautam Mukhopadhaya, Ambassador of India to Myanmar, Mr. T.C.A Ranganathan, Chairman and Managing Director of Exim Bank, and H.E. U Myint Swe, Hon’ble Chief Minister of Yangon, during the lamp lighting ceremony of inauguration of Exim Bank’s Representative Office in Yangon, Myanmar

Export-Import Bank of India's (Exim Bank's) Representative Office at Yangon was formally inaugurated on September 09, 2013, in the esteemed presence of H.E. U Myint Swe, Hon?ble Chief Minister of Yangon, H.E. Mr. Gautam Mukhopadhaya, Ambassador of India to Myanmar, and Mr. T.C.A Ranganathan, Chairman and Managing Director of Exim Bank. A seminar on Trade and Investment opportunities between India and Myanmar was also organised to mark the occasion, which was attended by Myanmar?s high-level Government functionaries, diplomats, multi-lateral agencies, banks, large number of corporates and the Indian diasporas. H.E. Mr. Gautam Mukhopadhaya, Ambassador of India to Myanmar in his opening remarks welcomed Exim Bank's decision to open an office in Yangon, its eighth overseas regional office, and hoped that Exim Bank's presence in Myanmar would serve to further boost and facilitate bilateral trade and investment relations between India and Myanmar and contribute to the developmental endeavours of Myanmar. He urged the trade and industry bodies in the region to benefit from the use of financing and support services offered by Exim Bank. Highlighting the historic connect between India and Myanmar, he emphasised that development cooperation has been the corner stone of bilateral ties, with India extending technical and financial assistance for a number of developmental projects in Myanmar, both in infrastructural and non-infrastructural areas, besides capability creation and entrepreneurship development. Delivering the Special Address, H.E. U Myint Swe, Hon?ble Chief Minister of Yangon congratulated Exim Bank of India and observed that Exim Bank?s presence in Myanmar and through its expertise in trade and overseas investment finance would significantly contribute to enhancing bilateral trade and investment ties between Myanmar and India in the years to come. He also recommended that Myanmar presents a plethora of opportunities for collaboration for especially partner Asian countries like India. Mr. U Win Thein Min, Deputy Director, Financial Supervision Department, Central Bank of Myanmar, and Ms. Daw Cho Cho Wynn, Deputy Director General, Directorate of Investment and Company Administration (DICA) also addressed the participants on banking and investment scenario in Myanmar. Earlier during the function, Exim Bank's Chairman and Managing Director, Mr. T.C.A. Ranganathan, in his welcome address, stated that Exim Bank through its global network of offices and wide range of financial, advisory and capability building activities has strived to play a catalytic role, as a key player, in promoting India?s international trade and investment relations with partner countries, while contributing to the internationalisation endeavours of Indian business. He highlighted that bilateral trade relations between India and Myanmar have witnessed significant rise in recent years, with India accounting for 15 percent of Myanmar?s global exports in 2012, and ranking as its second largest export market. As a partner country for Myanmar?s imports, India accounted for a share of 3 percent of Myanmar?s global imports while ranking as the seventh largest import source. He emphasised the need for a stronger bilateral cooperation between India and Myanmar in order to harness the true potential that exists for increasing bilateral trade and investment and stated that Exim Bank?s office in Myanmar would endeavour to contribute in this direction. On this occasion, Exim Bank's research publication titled ?Enhancing India-Myanmar Trade and Investment Relations: A Brief Analysis? was released at the hands of H.E. U Myint Swe, Hon?ble Chief Minister of Yangon, in the presence of H.E. Mr. Gautam Mukhopadhaya, Ambassador of India to Myanmar, and Mr. T.C.A. Ranganathan, Chairman and Managing Director, Exim Bank. The study highlights that in spite of India?s geographical proximity to Myanmar and export capability in most leading import items of Myanmar, India?s share in Myanmar?s imports is relatively low, as compared to other partner countries in Asia including China, Thailand, Singapore, Korea, Japan and Malaysia. The study draws attention to the fact that with a view to balancing the burgeoning trade gap between India and Myanmar, there is need for increased focus on India?s export potential to Myanmar. This would also serve to enhance India?s ranking as Myanmar?s import source. Apart from its Head Office in Mumbai, the Bank has regional offices spread across the major cities of India viz. Ahmedabad, Bangalore, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai, New Delhi and Pune. The overseas offices of the Bank are located in Addis Ababa, Dakar, Dubai, Johannesburg, London, Singapore and Washington DC.

For further information, please contact

Ms. Deepali Agarwal,

Deputy General Manager,

Export-Import Bank of India,

Centre One, Floor 21,

World Trade Centre Complex,

Cuffe Parade, Mumbai 400 005.

Telephone: 022- 2217 2829;

Fax: 022- 2218 2572;

E-mail: ccg@eximbankindia.in

Or

Mr. Jasmeet Singh Narula,

Resident Representative,

Export-Import Bank of India,

House No. 54/A, Ground Floor,

Boyarnyunt Street, Dagon Township,

Yangon, Myanmar.

Telephone: +95-9423694109;

E-mail: jasmeet.n@eximbankindia.in, eximyangon@eximbankindia.in

Exim Bank Signs MOC With Women On Wings
Press Conference
Mr. David Rasquinha, Executive Director, Exim Bank and Ms. Maria Van der Heijden, Managing Co-Founder, Women on Wings during the signing of the Memorandum of Cooperation in the presence of Ms. Lilianne Ploumne, Hon’ble Minister for Foreign Trade and Development Cooperation of the Netherlands, and Mr. Alphonsus Stoelinga, Ambassador of the Netherlands to India

Export-Import Bank of India (Exim Bank), signed a Memorandum of Cooperation (MOC) with Women on Wings, a non-profit organization based in Austerlitz, the Netherlands and working with social enterprises in India with an objective to create one million jobs for women in rural India by 2018. The purpose of the MOC is to identify areas and means of cooperation through which Indian grassroots/social enterprises could be supported to enable them reach international markets. Under the MOC, both Exim Bank and Women on Wings will share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory.

The MOC was signed by Mr. David Rasquinha, Executive Director, EXIM Bank and Ms. Maria Van der Heijden, Managing Co-Founder, Women on Wings, at a small function held in Mumbai, in the presence of the Hon'ble Minister for Foreign Trade and Development Cooperation of the Netherlands, Ms. Lilianne Ploumne, who is leading a trade delegation to India. The Hon'ble Minister opined that investing in a woman implied investing in the whole family and that the MOC was a significant milestone since sharing knowledge and skills is just as important as finance.

Briefing the delegates from the Netherlands and media persons on the occasion, Mr. David Rasquinha highlighted that Exim Bank has been striving towards promotion of exports of products from rural grassroots business enterprises, by providing them with an array of services including those related to financial support, capacity building, and export marketing. The underlying objective is to augment sustainable employment opportunities and exports from rural India. Exim Bank has supported various grassroots organization/ enterprises across different parts of the country. Mr. Rasquinha pointed out that this partnership with Women on Wings was a part of the Bank's outreach strategy to target a wider spectrum of grassroots organizations and would supplement the Bank's efforts towards boosting exports and alleviating poverty from rural India. Expressing her happiness in working with Exim Bank, Ms. Maria Van der Heijden, Co-Founder of Women on Wings, pointed out that the synergy between the two institutions would improve the quality of business of social enterprises and make them more sustainable in the long run.

For further information, please contact

Mr. Samuel Joseph,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22172461,
Fax:(022) 22188076.
E-mail:samuel_joseph@eximbankindia.in

Exim Bank Pays Rs. 263 Crore To Government As Balance Of Net Profit
Press Conference
Presenting the RTGS receipt of Rs. 263 crore as Balance of Net Profit to the Government of India: Seen in the photograph (from left to right) Shri Sriram Subramaniam, Regional Head, Exim Bank's New Delhi Office, Shri David Rasquinha, Executive Director, Exim Bank, Shri T. C. A. Ranganathan, Chairman and Managing Director, Exim Bank and Hon'ble Union Minister of Finance Shri P. Chidambaram.

Shri T. C. A. Ranganathan, Chairman & Managing Director, Export-Import Bank of India (Exim Bank), presented an RTGS receipt of Rs. 263 crore to Hon'ble Union Minister of Finance, Shri P. Chidambaram, representing Balance of Net Profit to the Government, for the financial year ended March 31, 2013. The Bank made a post-tax profit of Rs. 742 crore for the financial year 2012-2013. In the last five years, the Bank has transferred Rs.919 crore as Balance of Net Profit to the Government. Exim Bank's paid-up capital is entirely subscribed by the Government of India. 

Exim Bank's principal objective is to finance export of projects, products and services from India through a variety of financing programmes including Lines of Credit to overseas entities and Buyer's Credits to overseas importers. Exim Bank, in conjunction with ECGC, offers Buyer's Credit under Government of India's National Export Insurance Account (NEIA), under which the Bank finances project exports from India on medium to long term basis to foreign governments and government-owned entities, without recourse to Indian project exporters. Exim Bank also offers a comprehensive programme to support Indian investment overseas. The Bank is active in financing R&D, Innovation and Creative industries which have huge potential in diversifying India's export basket. The Bank has separate Groups for supporting Small and Medium Enterprises and Rural Grassroots Business Initiatives. The Bank has put in place a Technology and Innovation Enhancement and Infrastructure Development (TIEID) Fund of US$ 500 million exclusively for MSMEs by partnering with banks/FIs. The objective of setting up the fund is to assist export-oriented micro, small and medium enterprises (MSMEs) with long-term foreign currency loans through other commercial banks. 

For further information, please contact 

Ms. Deepali Agrawal,
Deputy General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22172829,
Fax:(022) 22182572.
E-mail:ccg@eximbankindia.in