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    27-Oct-2020

    Export-Import Bank of India observes Vigilance Awareness Week 2020

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  • Press Releases

    23-Oct-2020

    Training Programme in Product and Design Development Urmul Marusthali Bunkar Vikas Samiti, Phalodi Rajasthan Supported by India Exim Bank

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  • Press Releases

    22-Oct-2020

    MSME Sector a Crucial Component in North East’s Growth Story: India Exim Bank-UNDP

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  • Press Releases

    12-Oct-2020

    EXIM BANK EXTENDS LINE OF CREDIT OF USD 400 MILLION TO THE GOVERNMENT OF REPUBLIC OF MALDIVES.

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  • Press Releases

    07-Oct-2020

    India Exim Bank Explores Opportunities to Strengthen India-GCC Relations through Closer Collaboration and Identification of Newer Avenues

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  • Press Releases

    06-Oct-2020

    Exim Bank Celebrates Hindi Mahotsav

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  • Press Releases

    03-Oct-2020

    Greater Focus on Monitoring and Addressing the Policy Constraints Needed:: Exim Bank Study

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  • Press Releases

    29-Sep-2020

    EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 20.506 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF GUINEA

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    29-Sep-2020

    Exim Bank Announces the Winner of IERA Award 2019

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  • Press Releases

    23-Sep-2020

    AfCFTA: India’s Opportunity to Boost its Engagements with Africa: India Exim Bank

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  • Press Releases

    18-Sep-2020

    Training Programme in Design Development in Tribal Jewellery for the tribal artisans of Anwesha Tribal Arts and Crafts, Bhubaneswar Supported by India Exim Bank

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  • Press Releases

    16-Sep-2020

    Fostering Self-Reliance in Select Manufacturing Sectors can lead to Import Substitution of more than US$ 186 billion: Exim Bank Study

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  • Press Releases

    04-Sep-2020

    E-commerce and Organised Retailing to Propel Growth in Indian Packaging Sector: Exim Bank Study

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  • Press Releases

    18-Aug-2020

    Exim Bank calls for entries for the IERA Award 2020

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    14-Aug-2020

    Kerala has an Untapped Potential of US$ 6.7 billion in Merchandise Exports: Exim Bank Study

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  • Press Releases

    07-Aug-2020

    EXIM BANK, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT [LOC] OF USD 250 MILLION TO THE GOVERNMENT OF REPUBLIC OF MOZAMBIQUE.

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  • Press Releases

    25-Jun-2020

    India Exim Bank’s PAT jumps more than 50% in FY 2019-20

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  • Press Releases

    20-Jun-2020

    EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 20.10 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF NICARAGUA

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  • Press Releases

    12-Jun-2020

    EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 215.68 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF MALAWI

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  • Press Releases

    01-Jun-2020

    Ms. Harsha Bangari Appointed as DMD of Exim Bank

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Export-Import Bank of India observes Vigilance Awareness Week 2020

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As advised by the Central Vigilance Commission, Export-Import Bank of India commenced the observance of Vigilance Awareness Week 2020 from October 27, 2020 to November 2, 2020. The Integrity Pledge was administered amongst employees using physical as well as e-platform by Mr. David Rasquinha, Managing Director and Ms Harsha Bangari, Deputy Managing Director at Bank’s Head Office. During the function held for administering the pledge, Bank’s Managing Director and Deputy Managing Director encouraged the employees of Export-Import Bank of India to maintain the highest level of integrity and work unstintingly for eradication of corruption in workplaces and every sphere of life.

Training Programme in Product and Design Development Urmul Marusthali Bunkar Vikas Samiti, Phalodi Rajasthan Supported by India Exim Bank

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Mumbai, October 23, 2020:  A training programme titled ‘Product and Design Development in Handmade Fabrics’ has been organized with Exim Bank’s support, for 10 experienced  artisans of Urmul Marusthali Bunkar Vikas Samiti (UMBVS), Phalodi, Rajasthan, for a period of 30 days. UMBVS is a registered, not-for-profit organization established in 1989, having its head office at Phalodi town in Jodhpur, Rajasthan, for the welfare of weavers in the Great Thar Desert of Western Rajasthan. The weaving is being handled by a cluster of 50-60 weavers in 6 villages, viz. Phalodi, Ranisar, Bhojasar, Bhiyasar, Karwar, Krishnanagar, near Jodhpur, Rajasthan.

Handicrafts and handlooms, being endowed with a rich set of values and beliefs, are a unique manifestation of the roots, culture and identity of our people. Handicrafts portray the diverse traditions of our country, handed down through generations of craftspeople or through people associated with this sector.  The technique of the member weavers of UMBVS is unique and the skills required to handle the pit-looms and related equipment is generally mastered only by a few weavers, based on their experience.  The weavers, despite their harsh terrain and straitened circumstances, take immense pride in their work, which is reflected in the fabrics woven. It is the weavers’ unrelenting perseverance in inhospitable surroundings, that has kept the art alive.  However, there are several challenges faced by the weavers, viz, lack of knowledge and awareness about innovative weaving techniques, churning out new designs in tune with market requirements, latest trends and designs, textures, patterns, colour combinations, etc. The traditional designs need constant improvisation and innovation to sustain in the current market, which provides a wide range of choices to buyers. 

This training programme on product and design development for 10 master artisans of UMBVS is the second Online Training Programme supported by Exim Bank, and has been conceptualized with due regard to social distancing norms, in light of the ongoing COVID-19 pandemic. 

This training programme shall impart training to the weavers to improve their understanding of and become quality conscious about their products, in the larger context of enhancing the scope for income generation. Thus, this training  programme for the artisans would provide a good opportunity for the weavers to gain knowledge and exposure to innovative ideas in modern techniques/ new designs, that could enable wider appeal and acceptance of this fading art. Mr. Surjanram Jaipal, Chief Executive, UMBVS and himself a weaver, has been actively contributing to the endeavor of keeping this traditional art alive and pass it on to the next generation.

The program mentor, Ms Ritu Suri, who hails from Delhi, is a designer having a rich experience of 23 years in the field of art and crafts, and has longstanding experience in collaborating with craftsmen artisans and weavers. The Faculty Designer for this workshop, Ms. Ritu Suri is a textile Design graduate from the National Institute of Fashion Technology (NIFT, New Delhi). Her experience covers working with the Income Generation Programmes of grassroot level organisations like UMBVS, Vasundhara Gramothan Samiti, Urmul Seemant and Sadhna, to name a few. Ms.Ritu is one of the earliest members of the vast Rangsutra family (Rangsutra Crafts India Ltd.- a company founded on artisans’ ownership). Owing to her valuable experience of having worked closely with artisans and her long association with UMBVS, she has a deep understanding of the needs of the weavers in coming to terms with the trends and demands of a dynamic market. 

This Online Training aims to equip participant weavers with new and creative ideas in developing latest trending designs and with innovative weaving techniques in ethnic garment manufacturing, in line with the market demands. We are very hopeful that this training program will ultimately result in the skill development of a wide cross-section of weavers under the URMUL umbrella, eventually leading to their all-round socio-economic upliftment. Mr. David Rasquinha, Managing Director, India Exim Bank, in his welcome address, acknowledged the bountiful efforts of UMBVS in the socio-economic upliftment of the weavers and wished the program all success. 

 

MSME Sector a Crucial Component in North East’s Growth Story: India Exim Bank-UNDP

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India Exim Bank in partnership with the United Nations Development Program (UNDP) in India has organized a webinar, “Impact of COVID-19 in MSME Sector in the North East India: Challenges and Opportunities”, on October 22, 2020. The webinar was attended by several dignitaries including Mr. K. Moses Chalai, Secretary, North Eastern Council (NEC); Ms. Shoko Noda, Resident Representative, UNDP in India and Mr. David Rasquinha, Managing Director, India Exim Bank. The webinar is a part of the ongoing collaboration between India Exim Bank and the UNDP on the project ‘Capacity Building of MSMEs in North East India for Export Competitiveness’.

The webinar focused on various aspects of MSME sector of North East India, and highlighted the huge potential offered by the region and possible ways to profitably unleash these potentials, especially in the context of current pandemic. During the event, a Coffee Table Book showcasing several case studies and impact stories in agriculture, handloom and handcrafts sectors from three North Eastern states of Assam, Mizoram and Nagaland, supported by the India Exim Bank-UNDP project was released. 

Mr. K. Moses Chalai, Secretary, NEC in his address stressed the need to seriously look into Industry 4.0 in the North East. He pointed out that COVID-19 pandemic has brought out several innovations by the enterprises of the region. With the youth in the region started taking more risks, he believed that North East today holds huge potential to come up with good startups. He also emphasized that it is time to look into the governance issues faced by the region. 

Speaking on the occasion, Ms. Shoko Noda, Resident Representative, UNDP in India stated that the pandemic has shown us how fragile small businesses are, especially for women, and the importance of resilience for MSMEs. She stressed that the country can achieve SDGs only if North East has equal access to education and livelihoods. MSMEs in the region can make huge contribution towards strengthening the rural economy and providing sustainable livelihoods for women in the region.

India Exim Bank MD, Mr. David Rasquinha in his address pointed out the importance of MSMEs for North East region and stressed on improving infrastructure and connectivity for development of MSMEs and growth of exports from the region.  COVID-19 has disrupted the value chain of the MSMEs especially handloom, handicrafts and food processing sectors. He urged the entrepreneurs to formulate a business continuity and recovery plan in case of similar disruptions happening in the future, and organizations like the UNDP and India Exim Bank are in the right position based on their existing activities in the region, to assist MSMEs in their future endeavors.

The panelists deliberated upon various issues, along with the current and future prospects for MSME sector in the North East region in the context of COVID-19 pandemic. Several entrepreneurs thanked India Exim Bank and the UNDP for their timely support offered to MSMEs in the region. The webinar saw participation from several industry bodies, entrepreneurs and organizations from the region. 

 

For further information, please contact:

Mr. David Sinate, Chief General Manager, Research & Analysis Group, Export Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005, T: 91-22-2217 2701, E-mail: dsinate@eximbankindia.in

 

EXIM BANK EXTENDS LINE OF CREDIT OF USD 400 MILLION TO THE GOVERNMENT OF REPUBLIC OF MALDIVES.

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Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 400 million for undertaking Greater Male’ Connectivity Project in Maldives. 

The LOC Agreement to this effect was signed on Monday, October 12, 2020 in Male’, Maldives  between Mr. Nirmit Ved, General Manager, Exim Bank and Hon’ble Minister of Finance, Mr. Ibrahim Ameer, Government of Republic of Maldives.

With the signing of the above LOC Agreement for USD 400 million, Exim Bank, till date, has extended 3 (three) Lines of Credit to the Government of the Republic of Maldives, on behalf of the Government of India, taking the total value of LOCs to USD 1,240 million. Projects covered under the LOCs extended to the Government of Republic of Maldives include Greater Male’ Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Gulhifalhu Port Project,  Hanimaadhoo Airport Project and Road Construction Project.

With the signing of this LOC Agreement, Exim Bank has now in place 266 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26.40 billion, available for financing exports from India. 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 Mr. Nirmit Ved, General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91-11-24607700/ E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

An LOC Agreement of USD 400 million was signed between Mr. Nirmit Ved, General Manager, Exim Bank and Hon’ble Minister of Finance, Mr. Ibrahim Ameer, Government of Republic of Maldives, for undertaking Greater Male’ Connectivity Project. 

India Exim Bank Explores Opportunities to Strengthen India-GCC Relations through Closer Collaboration and Identification of Newer Avenues

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India Exim Bank released its study titled “Enhancing India’s Bilateral Relations with the GCC Countries: Trends in Trade, Migration and Remittances” in the presence of H.E. Mr. Munu Mahawar, Ambassador of India to Oman; H.E. Dr. Deepak Mittal, Ambassador of India to Qatar; H.E. Mr. Piyush Srivastava, Ambassador of India to Bahrain; and senior officials from the Embassy of India in Kuwait, Larsen & Toubro Limited and Afcons Infrastructure Limited, during a webinar titled “Enhancing India-GCC Relations: Prospects in Project Exports and Beyond” on October 06, 2020, hosted by India Exim Bank.

While India’s trade relations with countries in the Gulf region, have transformed considerably over the last decade, the structure and pattern is yet to be diversified, with huge potential for diversifying India’s exports especially into project exports.

The study analyses the two distinct areas of cooperation in India-Gulf economic relationship, viz. bilateral trade especially commodity trade, and migration from India resulting in a large expatriate community in the Gulf. The study highlights that GCC is one of India’s largest regional trading partner, with total trade averaging more than US$ 120 billion during the period 2009-2019. The study found that India continued to remain the second-largest export destination for GCC and its third largest import source, accounting for close to 10 percent each of GCC’s total exports and imports.

Behind this growing economic relationship, lies the vast Indian diaspora in the region. The GCC countries are home to over 9 million Indian migrants which has resulted in massive inflow of remittances to India amounting to US$ 48.5 billion in 2018. The study notes that both these intertwined aspects of India-Gulf ties have paved the way for further expansion of India-Gulf relations. 

The study finds that avenues for cooperation, driven by mutual interests, could include the healthcare sector, research and development in the pharmaceutical sector, construction and development of petrochemical complexes, infrastructure development, agriculture and food processing, education and skill development among others.

The India Exim Bank study also suggests a few policy catalysts that could help boost bilateral cooperation which could include (i) expansion of trade based on identified commodities that India has potential to export, which would help in narrowing India’s high trade deficit with the Gulf; (ii) increased focus on project exports from India; (iii) diversification of markets; (iv) increased cooperation in services sector; and (v) improving trade logistics; among others.

Mr. David Rasquinha, Managing Director, India Exim Bank in his address highlighted that countries in the Gulf and especially the GCC have always been important trade partners for India and an important component of India’s extended neighbourhood.  

The panellists deliberated upon the issues and current and future prospects for enhancing India’s engagements in and bilateral trade with the GCC region, in diversified areas.  The Ambassadors urged more Indian companies to take advantages of the emerging opportunities. 

Ambassador Mahawar, stressed that abundance of land, excellent infrastructure, ports, airports, roads, low utility cost especially low power cost, its strategic location and free trade arrangement makes Oman a preferred destination for Indian Investment.  Oman in its ‘Vision 2040, has identified priority sectors for development towards diversification and India is considered as a strategic priority partner for Oman.  He identified mining sector, transport infrastructure, health care as promising sectors for collaboration.  

Ambassador Mittal opined that huge opportunities exist for Indian exporters in the pharmaceutical sector, oil and gas sector in Qatar and offered to extend support to Indian enterprises venturing to engage with partners in Qatar. 

Ambassador Srivastava highlighted that opportunities exist in pharmaceutical products including alternative medicines, medical equipment, and renewable energy especially solar energy and in the fintech, digital and IT sectors in Bahrain and generally in the Gulf region.

Mr. Fahad Ahmed Khan Suri, Second Secretary (Political, Commerce and PIC), Embassy of India in the State of Kuwait in his address highlighted that there is significant potential to increasing bilateral trade not only in terms of volume but also in diversifying the existing base. Some of the potential areas for Indian exporters include energy, infrastructure projects, healthcare, automobiles, petrochemical and education. 

For further information, please contact:

Mr. David Sinate, Chief General Manager, Research & Analysis Group, Export Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005, T: 91-22-2217 2701, E-mail: dsinate@eximbankindia.in

Exim Bank Celebrates Hindi Mahotsav

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Mumbai/New Delhi: Export-Import Bank of India (India Exim Bank) celebrated Hindi Mahotsav from September 14 to 30, 2020. The Mahotsav commenced with the release   messages of MD and DMD of the Bank. On the inaugural day, a special meeting of all the Group Heads was held to review the Official Language implementation in the Bank.  During this meeting an interactive session was conducted to invite suggestions from the Group Heads and a competition was also held exclusively for Group Heads for promoting use of Hindi in the Bank.

During the fortnight long Mahotsav, various Hindi competitions aimed at encouraging and maximising usage of Hindi in the Bank were organized. All competitions and events were organised on the Bank’s virtual platform in view of the COVID-19 pandemic. 

Shri David Rasquinha, Managing Director, Exim Bank encouraged all officers to participate enthusiastically in these competitions. He opined in his message that, “We must use and increase Hindi in our day to day work and always try to learn new languages, as languages open a new window of knowledge for us.” Smt. Harsha Bangari, Deputy Managing Director of the Bank advised that “The best way to increase use of Hindi in the Bank is that before starting any official work, just ask yourself whether it can be done in Hindi.”

On the culmination day of Hindi Mahotsav, the renowned linguist and cultural activist Professor Ganesh N. Devy interacted with the staff on the importance of conserving and saving languages. He opined that “All languages of the world are our heritage. We should try to conserve each and every language known to us.” Further, he added, languages must be saved to save the humanity, because when a language dies, a whole set of knowledge, dies with it. 

A programme for the children of the Bank's staff, Bal Vatika, was also organized. The programme was hosted by RJ Sayema of Radio Mirchi and was aimed at connecting the young generation with our languages. Paintings, songs and dance performances and poetry recitations by the children were showcased during the programme. 

To encourage the use of Hindi in the technical areas, a webinar on ‘Essential Tools for Accessing Export Markets’ was also organized in Hindi during the Mahotasav. The participants were sensitized on export markets, risks associated with the international trade and measures to mitigate them. The webinar was attended by 108 people from the export community. 

Two Hindi publications were also released during the Hindi Mahotasav viz. Bank’s E-magazine ‘Exim Sparsh’ was released by MD on the occasion of commencement of Hindi Mahotasav and a souvenir titled ‘Bhartiya Bhashayen @ 2050 Aur Aage’ of the seminar held in Mumbai on the occasion of International Mother Language Day was released by Dr. Ganesh Devy.

Exim Bank: 

Exim Bank is an apex financial institution engaged in financing, promoting and facilitating, India's international trade and investment. The Bank brings out various research studies and news bulletins on export opportunities. These are also made available in Hindi and other Indian languages. Bank’s efforts for promoting Hindi and implementing Official Language policy have been recognized by various authorities and Bank has received many awards from the Government of India as well as RBI and other agencies.

For further information please contact: Shri Dharmendra Sachan, Export-Import Bank of India, Centre One Building, Cuffe Parade, Mumbai - 400 005. Phone: 022 2217 2453; E-mail: rajbhasha@eximbankindia.in, Website: www.eximbankindia.in 

Photo Caption: An interactive session with Shri Ganesh N. Devy, renowned thinker and cultural activist and Bal Vatika for children of the staff members with Radio Mirchi’s renowned RJ Sayema, was organised during the fortnight long Mahotasav celebrated in the Bank during September 14 to 30, 2020.

 

Greater Focus on Monitoring and Addressing the Policy Constraints Needed:: Exim Bank Study

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According to a study published by the Export-Import Bank of India (India Exim Bank), while the Government of India has been working to identify policies to promote exports and build a better operational environment, there is need for greater focus on monitoring and addressing glitches which prevent the successful implementation of these policies.

The Study titled ‘Domestic Constraints for Exports in Select Sectors’, analyses the current domestic policy constraints faced by the Indian exporters in select sectors viz., gems and jewellery, auto and auto-components, electronics (with focus on mobile phones), textiles and clothing, and pharmaceuticals. Based on the assessment of the challenges, the Study identifies sector specific policy initiatives that could improve operational conditions and efficiency of exporters in these sectors. The Study also identifies policies for engendering global export hubs in the country for various products.

The Study highlights common areas of concern for the exporters across various sectors, including the need for direct government intervention to reduce costs at ports; attractive production oriented incentives, particularly in light of the imminent phase out of Merchandise Exports from India Scheme (MEIS); addressing procedural delays in approvals and refunds, as well as custom clearances by the Government; expediting GST refunds and duty drawback refunds to improve the manufacturing landscape, among others. The Study finds that an immediate refund of GST could increase the overall GDP by 2 percent, exports by 7 percent, aggregate imports by 6 percent, and overall employment by nearly 4 percent. The effects of immediate refund of GST on individual sectors are much larger, with exports from the six identified sectors expected to register double-digit growth.

The Study also provides certain specific priority areas to focus for each of the identified sector, which are low hanging fruits for improving operational efficiency of exporters. Medium to long term interventions for improving the policy landscape for manufacturing and exports have also been recommended in the Study. 

The Study was released by Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, and Railways, Govt. of India during an interactive webinar organized by India Exim Bank on the theme ‘Strategies for Alleviating Policy Constraints for Exports in Select Sectors’ on October 3, 2020. Speaking on the occasion, Shri Piyush Goyal highlighted the efforts taken by the Government of India for incentivizing exports, boosting domestic manufacturing and enhancing the competitiveness of Indian exporters. 

Mr. David Rasquinha, Managing Director, India Exim Bank, in his opening address, observed that while the pandemic has significantly impacted international trade, it has also brought forth opportunities for countries like India to enhance Global Value Chain (GVC) integration, as major economies seek alternative suppliers to build resilient supply chains. Mr. Rasquinha noted that the strategies recommended in the study undertaken by India Exim Bank could help encourage foreign investments for GVC integration, and build a competitive and resilient exports sector.

 

For further information, please contact

Mr. S Prahalathan, Chief General Manager, Research & Analysis Group

Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, 

Cuffe Parade, Mumbai - 400005

Telephone: 91-22-2217 2704, E-mail: prahalathan@eximbankindia.in

EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 20.506 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF GUINEA

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Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 20.506 million for the purpose of financing the project for construction and up-gradation of Regional Hospitals in Kankan and Nzerekore, to the Government of the Republic of Guinea.

The LOC Agreement to this effect was signed in New Delhi on Tuesday, September 29, 2020, through exchange between Mr. Saroj Khuntia, General Manager, Exim Bank, and H.E. Ms. Fatoumata Balde, Ambassador, Embassy of the Republic of the Guinea, New Delhi, India. 

With the signing of the above LOC Agreement for USD 20.506 million, Exim Bank, till date, has extended 4 (four) Lines of Credit to the Government of the Republic of Guinea, on behalf of the Government of India, taking the total value of LOCs extended to USD 245.73 million. Projects covered under the LOCs extended to the Government of the Republic of Guinea includes Construction and Establishment of 130 bedded Mother & Child Hospitals, Solar Projects and strengthening the Drinking Water Supply of Grand Conakry.

With the signing of this LOC Agreement, Exim Bank has now in place 265 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26 billion, available for financing exports from India. 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 Mr. Gaurav Bhandari, General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

Exim Bank Announces the Winner of IERA Award 2019

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Announcement of the winner of India Exim Bank International Economic Research Annual (IERA) Award 2019, Dr. Shoumitro Chatterjee, by Mr. David Rasquinha, Managing Director, India Exim Bank at the Award Webinar organized by India Exim Bank on September 29, 2020.

Mumbai: September 29, 2020: Dr. Shoumitro Chatterjee was declared the winner of Export-Import Bank of India’s (India Exim Bank’s) International Economic Research Annual (IERA) Award 2019 for his doctoral thesis titled “Essays in Trade and Development Economics”. India Exim Bank’s IERA Award 2019 was announced by Mr. David Rasquinha, Managing Director, India Exim Bank, at a webinar held on September 29, 2020. The Award comprises prize money of Rs. 3.5 lakh and a citation.  The webinar was graced by the Guest of Honour, Dr K.L. Krishna, Former Director & Professor Emeritus, Delhi School of Economics. Exim Bank’s occasional paper based on Dr. Shoumitro Chatterjee’s Award-winning thesis was also released on the occasion.

On this occasion Dr. Krishna congratulated Exim Bank for its continuous efforts to promote economic research in India. Mr. Rasquinha, highlighted that the IERA Award, instituted in 1989, currently in its 31st year, is given to Indian nationals for their outstanding doctoral dissertations in the area of international economics, trade, development and related financing from Indian or foreign universities. Commenting on the Award-winning thesis, Mr. Rasquinha noted that the research study throws light on recent important developments in the agricultural market policies in India.   

The Winning Thesis

Dr. Shoumitro Chatterjee received his doctoral degree in 2018 from the Princeton University, USA. The thesis was written under the supervision of Prof. Esteban Rossi-Hansberg, Princeton University. He is currently working as an Assistant Professor of Economics at the Department of Economics of The Pennsylvania State University.

Exim Bank’s IERA Award

Exim Bank IERA Award represents the Bank’s ongoing efforts at promoting research and analysis in the area of international economics, trade & development and related financing. The entries for the 2020 edition of the Award are also open.

To know more about the past winners and to apply for the IERA 2020, please visit: https://www.eximbankindia.in/awards

For further details please contact: Chief General Manager, Research & Analysis Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: 022- 2217 2708/ 2717; Fax: 022- 2218 0743; E-mail: iera@eximbankindia.in;

AfCFTA: India’s Opportunity to Boost its Engagements with Africa: India Exim Bank

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India Exim Bank’s study titled “AfCFTA: Opportunities for India in Africa’s Economic Integration” was released during the 15th CII-EXIM Bank Digital Conclave on India Africa Project Partnership on September 22,2020 in the presence of Dr.S Jaishankar, Minister of External Affairs, Government of India, Hon OtunbaNiyi Adebayo, Minister of Industry, Trade and Investment, Federal Republic of Nigeria, Hon Ms RaychelleAwourOmamo, Cabinet Secretary for Foreign Affairs, Republic of Kenya, Hon. Dr Mohammad Anwar Husnoo, Vice-Prime Minister, Republic of Mauritius, Hon Mr Sylvestre Ilunga, Prime Minister, Democratic Republic of Congo, Mr. David Rasquinha, Managing Director, India Exim Bank, Mr. Uday Kotak, President, Confederation of Indian Industry and Managing Director, Kotak Mahindra Bank, Mr. Chandrajit Banerjee, Director General, Confederation of Indian Industry and Mr S Kuppuswamy, Co-Chair, CII Africa Committee.

Africa’s intra-regional trade has stagnated to around 14 percentover the past decade.Africa has taken cognizance of this intra-continental shortage of trade and its increased efforts towards economic integration is reflected in the agreement establishing the African Continental Free Trade Area (AfCFTA) which came into force on May 30, 2019. Trade under AfCFTA, which was supposed to initiate from July 2020, has now been postponed to 2021 on account of the COVID-19 pandemic.

It has been estimated that trade under AfCFTAwould increase intra-African trade by at least 52.3 percent. However, the effectiveness of this agreement is subject to improved trade-related infrastructure and transit costs.

India and Africa’s robust trade synergy is testimony to the longstanding partnership built over the years. India has continued to remain Africa’s second largest trading partner since 2017. However, India does not feature in the top five investors in Africa (in terms of FDI stock).Therefore, there is an increasing need for India to give AfCFTA priority on its foreign policy map by fostering innovative strategies that optimise growth and address the development needs of the region. 

In this regard, the India Exim Bank’s Study draws three critical areas for India to enhance its trade and investment relations with the African countries. The integrated approach would entail facilitating development of Regional Value Chain (RVC) in Africa and integrating Africa to the Global Value Chain (GVC) in the long run; strengthening Africa’s infrastructure and connectivity, and facilitating trade finance in Africa, among others.

To evaluate Africa’s present standing in the GVC, the Study draws an analysis of Africa’s GVC participation as well as GVC position. Majority of the African economies tend to have a modest GVC participation rate and higher GVC position rate due to their high domestic value-added exports (mainly primary commodities) and involvement in upstream activity (initial part of the value chain).India’s private sector could therefore assist African countries in further value addition and integration into agricultural, manufacturing and services value chains. With the onset of the COVID-19 pandemic, the importance of integrating Africa and building resilient regional value chains has become even more pertinent. The India Exim Bank’s Study highlights that India and Africa could step up their cooperation in key areas like agro-processing, healthcare including pharmaceuticals and renewable energy to ensure a sustainable path for economic recovery.

The study also highlights that infrastructure plays a critical role in facilitating intra-regional trade. Africa’s annual infrastructure deficit is estimated between US$ 67.6 and US$ 107.5 billion, including transport and utilitiesinfrastructure. In this regard, to facilitate infrastructure development and address the financing gap, innovative mechanism of financing besides traditional financing methods need to be explored to increase private sector involvement, which could include, among others, blended finance and PPP. Additionally, limited access to trade finance remains an overriding constraint to Africa’s trade, particularly for SMEs. The study proposes the need for increased engagement of Indian financial institutions with regional institutions in Africa to strengthen the financial institutional capacity of Africa.

 

For further information, please contact

Mr. David Sinate

Chief General Manager

Research & Analysis Group

Export Import Bank of India

Centre One Building, Floor 21

World Trade Centre Complex

Cuffe Parade, Mumbai - 400005

Telephone: 91-22-2217 2701

Fax: 91-22-2218 0743

E-mail: dsinate@eximbankindia.in

Training Programme in Design Development in Tribal Jewellery for the tribal artisans of Anwesha Tribal Arts and Crafts, Bhubaneswar Supported by India Exim Bank

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September 18, 2020:  A training programme, ‘Design Development in Tribal Jewellery’ has been organized for 20 tribal women artisans of Anwesha Tribal Arts and Crafts, Bhubaneshwar, Odisha, for a period of 30 days with support of India Exim Bank. Anwesha Tribal Arts and Crafts (Anwesha), a non-profit organization, strives for the all-round development of the tribals of Odisha through training/capacity building of tribal artisans and marketing their products.  Anwesha is also engaged with the tribal artisans in their socio-economic development.

Anwesha has two production centres in Bhubaneshwar for dhokra crafts and tribal jewellery.  Anwesha seeks to identify, preserve, promote, propagate, innovate, popularize and market tribal art and craft products - such as the rich and complex art form ‘Dhokra’ a stunning metal made from bronze and copper-based alloys using a ‘lost wax casting’, that represents the cultural heritage of the tribes of Odisha. Odisha has the largest number of tribes in India with as many as 62 tribes, with diverse habitats and lifestyles. There is a rich heritage of crafts in Odisha and the distinctiveness of each tribe lies in its rituals, cultures, beliefs and above all, their harmony with nature, as depicted through their products such as measuring bowls, religious deities, lamps, jewellery, artefacts, jewellery boxes, tableware, home-décor products etc.

More than 2000 artisans belonging to the SC, ST and OBC categories are associated with Anwesha. The tribal jewellery handcrafted by Anwesha artisans, displays the spirit of primal mankind articulated in shapes and designs bearing an earthy charm and portrays the unique cultural background, ideas and legends of the tribe, which have been carried forward through generations. Odisha’s tribal jewellery, generally crafted using local materials, has been gaining popularity in the international market in recent years, for it is considered very ethnic, elegant and modern, depicting an idealized outward appearance of the socio-cultural tradition of the concerned tribal communities. Mr. Dambarudhar Behera, Secretary, Anwesha, expressed  “Our association with Exim Bank, over the past 6 years has helped us grow, progress and expand our horizons,  for which we shall be ever thankful to Exim Bank and  look forward to their continued support for many more years to come”.

The current training programme on design development for 20 tribal women artisans of Anwesha, is the first Online Training Programme supported by the Bank, and has been conceptualized with due regard to social distancing norms, in light of the ongoing COVID-19 pandemic. 

The program mentor, Mr. Puneet Kaushik, a designer of international repute, has a rich experience of over three decades in this field, and a longstanding experience in collaborating with folk and tribal craftspeople. He has been conferred the ‘Artist of the Year’ award, Chivas Studio, in 2009. He is also the recipient of the Junior Research Fellowship, Department of Culture, Government of India, 2000-2002 and is a Nehru Research Associate, Jawaharlal Nehru Trust, India, 1998 – 2000. Mr. Puneet serves on the board of ‘Dastkar’ a society for Crafts and Craftspeople. Through this training programme, Mr Puneet envisions adapting traditional craft techniques and tweaking them to suit contemporary market needs. As quoted by Mr. Puneet, ‘It’s like a marriage between the tribal and the folk indigenous art forms, with a contemporary approach’.

The current Design Development programme shall help to further hone and diversify the skills of the tribal artisans of Anwesha and generate awareness about advanced techniques and latest designs, in keeping with market trends. This is expected to promote / scale-up the domestic as well as international business of Anwesha, through high-quality hand-crafted products. This training programme shall also lead to improvement in the livelihood and economic status of the tribal artisans of Anwesha Tribal Arts and Crafts.  Ms. Harsha Bangari, Deputy Managing Director, Exim Bank, in her welcome address, acknowledged the unstinting efforts of Anwesha in the socio-economic upliftment of the tribal artisans and wished the program all success.

Fostering Self-Reliance in Select Manufacturing Sectors can lead to Import Substitution of more than US$ 186 billion: Exim Bank Study

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According to a study published by the Export-Import Bank of India (India Exim Bank), the recent performance of the manufacturing sector in India is indicative of an underlying inertia, with the share of manufacturing in India’s gross value added declining to 15.1 percent in 2019-20, as compared to 18.4 percent in 2010-11, despite the strong and growing private consumption demand in the country. This weakness in the domestic manufacturing sector has translated into greater dependence on imports to meet the growing domestic demand over the years.

The Study titled ‘Self-Reliant India: Approach and Strategic Sectors to Focus’, identifies select sectors for import substitution and enhancing domestic production including electronics, defence equipment, machinery, chemicals and allied sectors, pharmaceuticals, and select agricultural products. The Study has also included sectors such as autocomponents, and iron and steel where, though there is overall trade surplus for India, but in some sub-categories, there is trade deficit, particularly with China. Further, the Study has included Rare Earth Elements in the scope, as securing these strategic minerals is important for India to enter high-tech manufacturing. These sectors account for more than US$ 186 billion of imports by India, with a share of nearly 39 percent in overall imports and 50 percent in the non-oil imports by India. 

The Study analyses the performance of these sectors in terms of production and export capabilities and highlights the import dependence in these sectors.  The Study recommends several sector-specific strategies for reducing import dependence by enhancing domestic production, based on an assessment of the specific needs and issues faced by each of the sectors. For instance, in sectors like agriculture and rare earth, there is a greater need for strategies that enable collaborative arrangements and encourage outward investments into partner countries for meeting domestic requirements, while in technology-intensive sectors the strategies are focused on creating domestic capacities for reducing import dependence. Some of the other strategies suggested by the study include: specific interventions for encouraging innovation-led manufacturing, addressing deficiencies in tax and duty structures, encouraging joint ventures, revisiting government regulations and programmes, among others. The Study also highlights certain cross-cutting strategies which can incentivize indigenization across the entire manufacturing sector. The Study was released during an interactive webinar organized by India Exim Bank on the theme ‘Strategies for Self-Reliant India’ on 16th September 2020. 

The Study was released by the Chief Guest for the webinar, Shri K Rajaraman, Addl. Secretary, Department of Economic Affairs, Ministry of Finance. Speaking on the occasion, Shri Rajaraman highlighted the efforts taken by the Government of India to reduce import dependence and foster self-reliance, thereby paving way for the economy to recover quickly from the pandemic-induced slowdown. 

Mr. David Rasquinha, Managing Director, India Exim Bank, in his welcome address, noted that building competitiveness in the manufacturing sector would be the focal point of the narrative of “Atmanirbhar Bharat”. Mr. Rasquinha observed that with the current international attention on India’s tremendous potential for economic growth, international trade and global value chain participation, it would be an opportune time to push for rapid progress on structural reforms to increase domestic capabilities. 

 

For further information, please contact

Mr. S Prahalathan, Chief General Manager, Research & Analysis Group

Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, 

Cuffe Parade, Mumbai - 400005

Telephone: 91-22-2217 2704, E-mail: prahalathan@eximbankindia.in

E-commerce and Organised Retailing to Propel Growth in Indian Packaging Sector: Exim Bank Study

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According to a Study published by the Export-Import Bank of India (India Exim Bank), Indian packaging sector is expected to reach US$ 72.6 billion by 2020, growing at a CAGR of 18% during 2016-21. The food packaging industry is expected to reach around US$ 55 billion by 2020. Propelled by rising urbanization, growing largest pool of young and middle to high income population and increased preference for safe and convenience food, the industry is slated to undergo a transition from loose to packaged, processed food and beverage products in the next five years. With E-commerce in India projected to grow rapidly at a CAGR of 27% from 2017 to 2026, to reach US$ 200 billion, transit packaging and omni-channel packaging are emerging as the most potential segments where Indian packaging industry have considerable scope of expansion.

The findings of the Study were shared by India Exim Bank through an interactive webinar on the theme ‘Packaging Sector – Potential and Way Forward’, on 4th September 2020. The webinar also highlighted the potential areas of growth for the Indian packaging sector, as also to proffer key strategies for the sector to become internationally competitive. 

The Study, titled ‘Packaging Sector – Potential and Way Forward’, analyses key aspects of the sector’s competitiveness in the international market, identifies major challenges for the sector in India, predominantly focussing on food packaging, and recommends pertinent strategies for alleviating the concerns. The Study recommends package manufacturing and packaging services as the two potential segments for the Indian packaging sector and developing the traditional packaging manufacturing units in the MSMEs with appropriate policy interventions. The Study also recommends encouraging public private partnerships in establishing Packaging Parks at Centers where manufacturing clusters are active, which may help in scaling up the objectives of MSMEs and enhance their productivity. 

The study also highlights the role of R&D in the sector’s development and the need for scaling up investments in R&D in the sector significantly. 

From the perspective of capacity building, the Study suggests increasing the number of institutions in the area of packaging education and training, strengthening of Indian Institute of Packaging (IIP) with appropriate investment, and also including packaging education in Central Government’s Skill India Program. 

The Study was released by the Chief Guests for the webinar Shri Subodh Gupta, Chairman, IIP; and Dr. Tanweer Alam, Director, IIP. Speaking on the occasion, Shri Subodh Gupta highlighted the importance of packaging as an essential component of product development and safety of the final products, especially at the backdrop of the COVID pandemic. Shri Gupta also recognised India Exim Bank’s efforts in bringing out the Study and the long-drawn impact of the recommendations on the industry.  Adding on to Shri Gupta’s views, Dr. Alam, Director, IIP highlighted the role of IIP as a growth driver for the Indian packaging industry particularly in the areas of export packaging of hazardous goods. 

Mr. David Rasquinha, Managing Director, Exim Bank, in his welcome address, noted that the packaging sector is of paramount importance and plays a vital role in the international trade of goods. With international trade being at the focal point of the narratives of “Atmanirbhar Bharat” and “Vocal for Global”, there is a need for cohesive efforts at all levels of product development to prepare the domestic industry for achieving these objectives, Mr. Rasquinha added.

 

For more information, contact: 

Shri Prahalathan Iyer, Chief General Manager, Research & Analysis Group

Export-Import Bank of India, Centre One Building, Floor 21, WTC Complex, Mumbai 400005 

Phone: 91-22-2217 2704, Fax: 91-22-2218 0743, E-mail: prahalathan@eximbankindia.in 

 

Exim Bank calls for entries for the IERA Award 2020

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Export-Import Bank of India (Exim Bank) has opened entries for the 2020 edition of its International Economics Research Annual Award (IERA Award). The last date for submitting the application for IERA Award 2020 is September 30, 2020. The Award consists of prize money of Rupees 3.5 Lakh and a Citation. Instituted in 1989, Exim Bank’s IERA Award represents the Bank’s ongoing efforts at promoting research and analysis in the area of international economics, trade & development and related financing.

Research work by Indian nationals in international economics, trade, development and related financing, either awarded a doctorate or accepted for award of doctorate, from any nationally accredited university or an academic institution in India or abroad is a pre-requisite for eligibility of the Award. Issues of relevance to India or Exim Bank such as those pertaining to foreign trade, foreign direct investments, joint ventures, international competitiveness, policies impacting trade and investment, monetary and fiscal interventions would be of particular interest. Exim Bank will accept, as entries, those theses for which doctorate has been obtained/ accepted for award of doctorate between January 1, 2016 and September 30, 2020. 

To know more and to apply for the IERA Award 2020, please visit: https://www.eximbankindia.in/awards.

 

For further information, please contact

Mr. David Sinate

Chief General Manager, Research & Analysis Group

Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005

Telephone: 91-22-2217 2701, Fax: 91-22-2218 0743, E-mail: dsinate@eximbankindia.in

Kerala has an Untapped Potential of US$ 6.7 billion in Merchandise Exports: Exim Bank Study

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According to a Study published by the Export-Import Bank of India (Exim Bank), merchandise exports from Kerala stood at US$ 9.8 billion in 2018-19. Although exports from the state have registered robust growth during the recent period, there remains an untapped merchandise export potential of nearly US$ 6.7 billion. Realizing this potential could increase merchandise exports from the state to nearly US$ 16.5 billion. With a favourable policy framework and concerted efforts to boost exports, Kerala could target to achieve US$ 54.7 billion of export revenues by 2024-25.

Exim Bank organized an interactive webinar on the theme ‘Potential for Enhancing Exports from Kerala’ on 14th August 2020, to familiarize participants with the potential export opportunities, as also to proffer key export strategies for Kerala to realise its latent potential and achieve higher export growth trajectory. The programme was attended by more than 70 participants, and had speakers from the Government of Kerala (GoK) and Exim Bank.

On this occasion, Exim Bank released a working paper titled ‘Promoting Exports from Kerala: Insights and Policy Perspectives’. The Study identifies a six-pronged export strategy for the State, built upon the essential dimensions of diversification of products and markets, infrastructure leverage and strengthening, capacity building, fiscal incentives, devising an export promotion campaign, and institutional streamlining. The Study recommends diversification away from traditional export items for Kerala towards higher value-added products such as processed food, technical textiles, bulk drugs, and electronics and machinery. 

Highlighting the role of trade enabling infrastructure in export competitiveness, the Study recommends, inter alia, adoption of a public-private partnership model for strengthening the existing network of waterways, creation of a fund for development of export infrastructure in the non-major ports, increasing warehousing capacity in the districts of Alappuzha and Palakkad, leveraging Central Government sponsored schemes for enhancing the cold chain network, utilizing IT-enabled services to improve the reach and connectivity for agricultural produce, and setting up a Centre of Excellence for the Animation, Visual Effects, Gaming and Comics sector in the state.

From the perspective of capacity building, the Study suggests development of a branding strategy for products in which the state has Geographical Indications, refund of expenses incurred by exporters in the state for obtaining statutory certifications, assisting firms in availing funding for cutting-edge technologies under various Central Government schemes, encouraging hospitals in Kerala to tie-up with foreign health institutions/ hospitals, and creating awareness about finance and risk mitigation products. 

The GoK could also consider fiscal incentives such as capital subsidy or grants in priority sectors and reimbursement of electricity duty in key export-oriented sectors. As part of its Export Promotion Campaign, the Government could also consider setting up Export Awards, establishing a brand equity fund for branding and marketing of products from Kerala, and assessment of the industrial clusters in Kerala for identification of the necessary areas of intervention. The Study also highlights the need for an effective institutional ecosystem in Kerala for promoting exports, and recommends setting up of a Kerala Export Promotion Council under the aegis of the Department of Industries, GoK.

The Study was released by the Chief Guest for the webinar, Dr. K. Ellangovan (IAS), Principal Secretary, Department of Industries & Commerce and NORKA, Government of Kerala. Speaking on the occasion, Dr. Ellangovan highlighted the efforts taken by the State Government to support exporters in the State, and outlined the future endeavours of the Government of Kerala. 

Mr. David Rasquinha, Managing Director, Exim Bank, in his welcome address, noted that international trade is at the focal point of the narratives of “Atmanirbhar Bharat” and “Vocal for Global”, and there is a need to coalesce efforts at all levels of governance to prepare the domestic industry for achieving these objectives. He also apprised the participants about the multi-layered engagement of Exim Bank for financing, facilitating and promoting exports at the state level.

 

For more information, contact: 

Shri Prahalathan Iyer, Chief General Manager, Research & Analysis Group

Export-Import Bank of India, Centre One Building, Floor 21, WTC Complex, Mumbai 400005 

Phone: 91-22-2217 2704, Fax: 91-22-2218 0743, E-mail: prahalathan@eximbankindia.in

EXIM BANK, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT [LOC] OF USD 250 MILLION TO THE GOVERNMENT OF REPUBLIC OF MOZAMBIQUE.

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Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 250 million for Improving of Quality of Power Supply in Mozambique.

The LOC Agreement to this effect was signed on Monday, August 03, 2020, through exchange between Mr. Saroj Khuntia, General Manager, Exim Bank and Mr. Adriano Isaias Ubisse, National Directorate of Treasury, Ministry of Economy and Finance, Government of Republic of Mozambique.

With the signing of the above LOC Agreement for USD 250 million, Exim Bank, till date, has extended 14 (fourteen) Lines of Credit to the Government of the Republic of Mozambique, on behalf of the Government of India, taking the total value of LOCs to USD 772.44 million. Projects covered under the LOCs extended to the Government of Republic of Mozambique includes supply of Locomotives, Coaches, construction of Borewells and installation of hand pumps, construction of Incubator facility Research and Learning centre, Technology park and administrative facility.

With the signing of this LOC Agreement, Exim Bank has now in place 264 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.98 billion, available for financing exports from India. 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 Mr. Saroj Khuntia, General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

India Exim Bank’s PAT jumps more than 50% in FY 2019-20

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Mr. David Rasquinha, Managing Director and Ms. Harsha Bangari, Deputy Managing Director, Export-Import Bank of India (India Exim Bank), announced the Bank’s results for the financial year 2019-20 through a virtual press conference in Mumbai on Thursday, June 25, 2020.

Key highlights of the Bank’s performance during 2019-20 are as under:

BUSINESS PERFORMANCE

  • Lines of Credit (LOCs): During the year, the Bank extended 27 LOCs, aggregating USD 3.40 billion, to support export of projects, goods and services from India. The Bank has built up a portfolio of 259 GOI-LOCs with credit commitments aggregating USD 25.46 billion which are at various stages of implementation. With ever expanding reach, the LOCs have gained momentum in stimulating economic growth across 64 countries in Africa, Asia, Latin America, Oceania and the CIS region.
  • Project Exports: During FY 2019-20, India Exim Bank has supported 38 project export contracts valued at USD 2.81 billion under its commercial window. Some major project exports contracts supported by the Bank during the year include roadways project in Bangladesh; refinery complex project in Nigeria; power transmission projects in Nicaragua and Togo; South West Gas Field Development Project in Algeria; development of container terminal at the Yangon port, Myanmar; solar 190 MW DC photovoltaic plant in Chile; installation and commissioning of pumps in Suriname.
  • Buyers’ Credit under National Export Insurance Account (BC-NEIA): An amount of USD 331.58 million was disbursed during the year under the sanctioned facilities, and the outstanding BC-NEIA portfolio stood at USD 1.35 billion as on March 31, 2020. Some key projects include water treatment plant in Sri Lanka, LPG storage facility at the Beira Port in Mozambique; supply of vehicles to Cote d'Ivoire, Senegal and Tanzania; transmission line projects in Cameroon, Mauritania, Senegal, Zambia and Kenya; railway line project in Ghana; irrigation project in Suriname; water supply projects in Uganda and Cameroon; and other projects in Maldives, Zambia and Ghana. The Bank has also given in-principle commitments aggregating to USD 3.53 billion for supporting 28 projects, under BC-NEIA, at the behest of several leading Indian project exporters. 
  • Overseas Investment Finance: During FY 2019-20, 16 corporates were sanctioned funded and non-funded assistance aggregating ` 2,837 crore for part financing their overseas investments in 8 countries. Overseas investments supported during the year include setting up of a manufacturing facility in Morocco for the production and supply of auto components; working capital for a plant manufacturing oleoresins in China; setting up of units in the USA for the manufacture of Intermediate Bulk Container bottles and drums; setting up of a Calcined Petroleum Coke manufacturing project with captive power generation in the Sultanate of Oman.

RESOURCES & TREASURY

  • During FY 2019-20, the Bank raised foreign currency resources aggregating USD 1.91 billion equivalents. The raising of resources was done through a variety of instruments.
  • In January 2020, India Exim Bank raised USD 1 billion for 10-year tenor at a coupon of 3.25% p.a. in the 144A/Reg-S format.  The transaction marked the lowest coupon from any Indian issuer for a 10-year USD issuance. The issue attracted a total order book in excess of USD 2.7 billion at close, thereby achieving more than 2.7 times subscription from 184 high-quality investors. 
  • In October 2019, the Bank issued its first ever USD-denominated Socially Responsible Bond for USD 50 million. The bond is named as Socially Responsible Mekong Region Development Bond considering allocation of funds to infrastructure projects from Cambodia, Myanmar and Vietnam. The 3-year bond was issued at a fixed coupon of 2.385 % per annum.
  • In September 2019, the Bank successfully returned to the Samurai Bond Market and issued a dual tranche JPY 32 billion transaction consisting of 3-year and 5-year fixed rate tranches. The coupon rates were fixed at 0.59% and 0.66% per annum respectively. The transaction represents India Exim Bank’s first Standalone Samurai issuance (without any guarantee) since 2006. 
  • As on March 31, 2020, the Bank had a pool of foreign currency resources equivalent to USD 12.09 billion and outstanding rupee resources of 18,430 crore.
  • Rating: India Exim Bank has the highest ratings (AAA) / (A1+) for Rupee debt instruments and its international ratings are at par with Sovereign - Moody’s: Baa3 (Negative); S&P: BBB-(Stable); Fitch: BBB-(Negative); JCRA: BBB+ (Stable).

EXPORT FACILITATION

  • During FY 2019-20, the Bank conducted 24 seminars for exporters, with themes broadly classified into export capability creation, business opportunities, industry, country & region focus, and export potential of Indian states.
  • India Exim Bank, under its grassroots initiatives, has been supporting and assisting rural artisans and craftsmen of handicraft products to widen their domestic as well as international presence by organizing design, skill-building and training workshops. The Bank supported six skill development programmes during the year, some of them were for weavers engaged in ‘Kalamkari’ art, in Pedana village of Andhra Pradesh; artisans of Rangsutra Crafts India Limited in Barmer, Bikaner, Srinagar & Varanasi; for farmers and artisans in Pithoragarh district of Uttarakhand for Kumaon Earthcraft Cooperative (Earthcraft).
  • The Bank assists in identification of market opportunities overseas and seeks to help Indian firms in their globalization efforts by proactively assisting in locating overseas distributors / buyers / partners for their products and services on a success fee basis. One of the highlights during the year was the assistance provided for development of a Lacustrine Fisheries Industry in Kibouo Lake Dalao city in Abidjan, Cote d’Ivoire.

ADVISORY AND CONSULTANCY SERVICES

  • India Exim Bank and the United Nations Development Programme (UNDP) are jointly implementing a project on “Capacity Building of MSMEs in North East India for Export Competitiveness”. Some of the key initiatives under this project during FY 2019-20 include: partnering with several pan-India institutions to identify opportunities for MSMEs; conducting studies to strengthen agricultural value chain; documentation of cluster activities of agriculture, handloom and handicraft sectors; and creation of a UNDP-India Exim Bank Network of Social Entrepreneurs in Mizoram and Assam.
  • The Bank has been engaging with various state governments to evaluate the state-level export performance and making strategies for development of their trade competitiveness. In the recent years, the Bank has developed export strategy papers for the state governments of Andhra Pradesh, Madhya Pradesh, Rajasthan and West Bengal. In FY 2019-20, India Exim Bank’s Study titled ‘Promoting Exports from Bihar: Insights and Policy Perspectives’ was released in Patna. The Bank also released 19 research studies during the year on various sectors, countries and macro-economic issues relevant to international trade and investment. 
  • Following a request from the Kingdom of Saudi Arabia, during FY 2019-20, India Exim Bank completed a consultancy assignment to tailor the financing programs for its newly launched Saudi EXIM Bank.
  • During the year, the Bank organised skill enhancement programs for officers from diverse groups of Ghana Export-Import Bank (Ghana Exim), as a follow-on to its capacity building assignment for Ghana Exim.
  • The Bank’s Exim Mitra portal provides the exporters and importers an effective, single gateway to a wide range of trade information services. The portal contributes to the ongoing efforts towards reducing the asymmetry in information and availability of trade finance and credit insurance facilities amongst MSME entrepreneurs. 

NEW INITIATIVE

  • During the Union Budget in February 2020, Hon’ble Finance Minister had announced a scheme of  1,000 crore for promoting Indian companies with export potential, to be anchored by India Exim Bank together with SIDBI. Both the institutions would contribute  50 crore each, which would be utilised towards equity and technical assistance. Debt-funding of  900 crore from banks would also be made available under the scheme. The initiative christened as the ‘Ubharte Sitaare Programme’ will be led by India Exim Bank.

COVID-19 RELIEF INITIATIVES

  • During FY 2019-20, India Exim Bank made a donation to the PM-Cares Fund for COVID-19 relief. The Bank’s staff members contributed an average of 5.6 days salary and the Bank matched and rounded off the donation to 1 crore to the PM Cares Fund.
  • Many projects financed by India Exim Bank are providing support to combat COVID-19. Welspun India Limited, one of the leading textile companies and exporters of India, is manufacturing 3-ply masks using non-woven material at its Advanced Technical Textile site, which was financed by India Exim Bank. Rivatex East Africa Limited, supported under a Line of Credit to the Government of Kenya, is making and supplying masks, hospital bed sheets to Kenya Medical Supplies Authority (KEMSA).

SOCIALLY RELEVANT INITIATIVES

  • During FY 2019-20, India Exim Bank partnered with the Don Bosco Institute of Technology to set up a low-cost sanitary napkin making facility in Jawhar, Palghar. The facility made the essentials of personal hygiene accessible to the local women and also created a few job opportunities for the women producers as they marketed and sold the product.
  • The Bank partnered with advocate and environment activist Mr. Afroz Shah for beach clean-up activities. Around one-third of the Bank’s staff in Mumbai along with their family members joined for the clean-up drives at Versova beach and Dana Pani beach in Malad. 
  • The Bank in association with the Tata Memorial Hospital organised blood donation drives in Mumbai. A blood donation drive was also organised in the Bank’s New Delhi office.

 

For more information, please contact: Mr. Swarup Chakraborty, Assistant General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005; Phone +91-22-22172830; E-mail: ccg@eximbankindia.in.

EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 20.10 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF NICARAGUA

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Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 20.10 million for reconstruction of Aldo Chavarria Hospital, to the Government of the Republic of Nicaragua.

The LOC Agreement to this effect was signed on Friday, June 12, 2020, through exchange between Mr. Tarun Sharma, General Manager, Exim Bank, and Mr. José Adrián Chavarria, General Viceminister, Ministry of Finance and Public Credit, Government of Republic of Nicaragua.

With the signing of the above LOC Agreement for USD 20.10 million, Exim Bank, till date, has extended 4 (four) Lines of Credit to the Government of the Republic of Nicaragua, on behalf of the Government of India, taking the total value of LOCs to USD 87.63 million. Projects covered under the LOCs extended to the Government of the Republic of Nicaragua includes supply of equipment for building two substations, construction of transmission lines, building new substation, expansion of the existing substations and reconstruction of a hospital.

With the signing of this LOC Agreement, Exim Bank has now in place 261 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.70 billion, available for financing exports from India. 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 Mr. Sudatta Mandal, Chief General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

EXPORT-IMPORT BANK OF INDIA, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 215.68 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF MALAWI

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Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 215.68 million for Drinking Water Supply Schemes and Other Development Projects, to the Government of the Republic of Malawi.

The LOC Agreement to this effect was signed in New Delhi on Friday, June 12, 2020, between Mr. Sudatta Mandal, Chief General Manager, Exim Bank, and H.E. Mr. George Mkondiwa, High Commissioner, Malawi High Commission in India. 

With the signing of the above LOC Agreement for USD 215.68 million, Exim Bank, till date, has extended 5 (five) Lines of Credit to the Government of the Republic of Malawi, on behalf of the Government of India, taking the total value of LOCs extended to USD 395.68 million. Projects covered under the LOCs extended to the Government of the Republic of Malawi includes supply of irrigation network, tobacco threshing plant, cotton processing facilities, green belt initiative, sugar processing equipment, fuel storage facility and construction of a new water supply system from Likhubula river in Mulanje to Blantyre.

With the signing of this LOC Agreement, Exim Bank has now in place 260 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.68 billion, available for financing exports from India. 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 Mr. Sudatta Mandal, Chief General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

Ms. Harsha Bangari Appointed as DMD of Exim Bank

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Mumbai: Ms. Harsha Bangari has been appointed as the Deputy Managing Director of the Export-Import Bank of India (Exim Bank). Prior to this appointment, Ms. Bangari was the Chief General Manager and Chief Financial Officer of the Bank. She joined Exim Bank in 1995 and is currently heading the Treasury and Accounts Group of the Bank. Ms. Bangari is a seasoned finance professional with experience of more than 25 years in the financial sector and has thorough knowledge of the Bank’s processes and business policies across functions covering all products of the Bank including cross border project financing as well as Risk Management, Client Servicing and Liability side management including Treasury Functions and Foreign Currency Resources. Her areas of interest include international debt capital markets and international project finance.

Ms. Bangari is a Bachelor of Commerce and a Chartered Accountant.

 

For More information, please contact: Mr. Nadeem Panjetan, Chief General Manager, Export-Import Bank of India, 21st floor, Centre One Building, World Trade Centre Complex, Cuffe Parade, Mumbai 400005; Telephone +91-22-22172829, Email: ccg@eximbankindia.in,Website: www.eximbankindia.in