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    05-Jan-2021

    India Exim Bank raises US$ 1 Billion for 10 year tenor at record low rate of 2.25% P.A.

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  • Press Releases

    17-Dec-2020

    India Exim Bank forecasts India’s Non-Oil exports for the third quarter of FY2021 to amount to US$ 68.3 bn, witnessing a marginal positive annual growth

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  • Press Releases

    11-Dec-2020

    Exim Bank extends line of credit of USD 448 million to the government of republic of Uzbekistan.

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  • Press Releases

    11-Dec-2020

    India Exim Bank and BANK OF AFRICA BMCE Group sign MoU aiming to increase trade and investment

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  • Press Releases

    03-Dec-2020

    India-CLMV Partnership in Infrastructure Necessary for Enhanced Regional Competitiveness: India Exim Bank Study

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  • Press Releases

    03-Dec-2020

    India Exim Bank estimates suggest an immediate need for 5 Indian hospitals across Africa; building regional healthcare hubs

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  • Press Releases

    23-Nov-2020

    Shri N. Ramesh takes charge as DMD of Exim Bank

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  • Press Releases

    17-Nov-2020

    Exim Bank of India Announces the Winner of the BRICS Economic Research Award 2020 during the 10th BRICS Financial Forum

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  • Press Releases

    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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    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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  • Press Releases

    29-Sep-2020

    Exim Bank Announces the Winner of IERA Award 2019

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    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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India Exim Bank raises US$ 1 Billion for 10 year tenor at record low rate of 2.25% P.A.

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India Exim Bank opened the year in style on January 4, 2021, successfully launching a USD 1 billion 10-year Bond. The coupon of 2.25% is a record low for any 10-year bond issuance out of India. The Bank, whose balance sheet is substantially dollarized, is one of the largest Indian issuers of long-term debt in the international debt capital markets and its paper is treated as quasi-sovereign. The funds thus raised will be used by the Bank to support Indian project exports, overseas investment by way of long-term credit and its export lines of credit portfolio.

The issue was launched early morning in Eastern markets (Hongkong and Singapore) and within three hours was over-subscribed twice. The Bank then tightened the initial price guidance of CT10+185 bps by 40 bps to end at CT10+145 bps, well inside the fair value point on the curve. At close, with US investors also coming in, the issue was oversubscribed by more than 3.5 times, with several high-quality investors having to settle for less than their requested allocations.

In terms of geographic distribution, the bonds were distributed 55% in Asia, 29% in USA and 16% from EMEA region. In terms of distribution, the bonds were distributed to high quality investors with around 68% distributed to fund managers, 17% to Sovereign Wealth Funds, Central Banks and Insurance companies, 14% to banks and 1% to private banks and others.

Barclays, Citigroup, HSBC, J.P. Morgan, MUFG and Standard Chartered acted as Joint Lead Managers and book runners for the offering. India Exim Bank has been rated as ‘Baa3 (Negative)’ by Moody’s, ‘BBB- (Stable) by S&P and ‘BBB- (Negative)’ by Fitch, same as the rating of Government of India.

Speaking on the occasion, Mr. David Rasquinha, Managing Director of India Exim Bank, said, “We are delighted to open the debt markets in 2021 with this signal achievement – a billion dollars for ten years at a record low coupon. With the upsurge in GST numbers, improvement in GDP, and the recent approval of vaccines, the confidence in the India story is surging once again. With a strong market opening trade from India Exim Bank, many other Indian issuers are likely to follow suit to access the foreign currency bond market.”

Ms. Harsha Bangari, Deputy Managing Director said that India Exim Bank has been continuously monitoring the market for a possible issuance window. This is the only 10-year transaction by an Indian Financial Institution in the last one year. The quasi sovereign nature of the Bank and EMBIG index eligibility of the bonds helped in the price tightening. The swift build to the book and the large book size, even after significant tightening by 40 bps demonstrates strong confidence of overseas investors in the India story and in India Exim Bank. Throughout the lockdown period, the Bank had been regularly engaging with overseas investors, a move that paid off well as investors bid aggressively. 

India Exim Bank aims to promote India’s international trade and investment. The Bank offers Indian companies a comprehensive range of products and services, supported by analysis and research, with a view to enhancing their international competitiveness. The Bank aggressively supports Indian exporting companies, especially medium-sized enterprises, in their globalisation efforts through a variety of lending programmes.

For further information, please contact Mr. Sudatta Mandal, Chief General Manager, Treasury & Accounts Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005. Telephone +91-22-22172686; E-mail: sudatta@eximbankindia.in

India Exim Bank forecasts India’s Non-Oil exports for the third quarter of FY2021 to amount to US$ 68.3 bn, witnessing a marginal positive annual growth

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Export-Import Bank of India (India Exim Bank) forecasts India’s Non-Oil exports for the third quarter of FY2021 to amount to US$ 68.3 bn, witnessing a marginal positive growth of 0.3 percent, over the corresponding quarter of the previous year, after three consecutive quarters of contraction.  On the other hand, total merchandise exports are forecast to continue to witness a moderation to US$ 77.6 bn in the third quarter of 2020-21, as compared to US$ 79 bn in the corresponding quarter of the previous year, on the back of one of the steepest and continued contractions in India’s oil exports, witnessed since March 2020.  The forecasts are based on India Exim Bank’s Export Leading Index (ELI) Model.  

Forecast of growth in India’s total merchandise exports and non-oil exports are released by India Exim Bank on a quarterly basis, during the first week of the months of June, September, December, and March for the corresponding quarters, with continuous improvisation to the model. The next growth forecast for India’s exports for the quarter January-March 2021 would be released during the first week of March 2021.

The model and the forecast results have been reviewed by a standing technical committee of domain experts comprising Professor Saikat Sinha Roy, Professor & Coordinator, Centre for Advanced Studies, Department of Economics, Jadavpur University, Kolkata; Dr. Sarat Dhal, Director, Department of Economic and Policy Research, Reserve Bank of India, Mumbai; Professor N. R. Bhanumurthy, Vice Chancellor, BASE University, Bengaluru; and Professor C. Veeramani, Professor, Indira Gandhi Institute of Development Research (IGIDR), Mumbai.

As part of its continued research initiatives, Exim Bank had developed an in-house model to generate an Export Leading Index (ELI) for India to track and forecast the movement in India’s exports on a quarterly basis. The ELI gauges the outlook for the country’s exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country, on a quarterly basis, based on several external and domestic factors that could impact exports of the country.  

For further information, please contact:

Mr. David Sinate, Chief General Manager/ Dr. Viswanath Jandhyala, Assistant General Manager, Research & Analysis Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai – 400005; T: +91-22-2217 2701/ 2708/ 2711 

E: dsinate@eximbankindia.in/ viswanath@eximbankindia.in

Disclaimer: The results presented above could be of interest to policy makers, researchers, and exporters among others.  These are growth forecasts from the Research and Analysis Group of India Exim Bank and do not necessarily reflect the views of India Exim Bank.  The growth forecast for the quarter derived from the Export Leading Index (ELI) model may be subject to commodity price volatility, uncertainties in the global economy mainly driven by the global pandemic and the resultant slowdown. The model would undergo continuous improvisation with revision of recent available data and advanced forecasting methodology, incorporating comments, suggestions and feedback from various quarters. Actual exports data are sourced from RBI’s Database on Indian Economy.   

Exim Bank extends line of credit of USD 448 million to the government of republic of Uzbekistan.

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Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 448 million to the Government of Republic of Uzbekistan for financing various projects in the Roads & Transport, Water and Technology & Communication sectors in Uzbekistan.

The LOC Agreement to this effect was signed on Thursday, December 10, 2020, between Hon’ble Deputy Prime Minister & Minister of Investments and Foreign Trade, Mr. Sardor Umurzakov, Government of Republic of Uzbekistan and Mr. Nirmit Ved, General Manager, Exim Bank.

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, CIS and the Oceania, with credit commitments of around USD 26.59 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  

India Exim Bank and BANK OF AFRICA BMCE Group sign MoU aiming to increase trade and investment

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Recognising the importance of economic relations between India and Morocco and the need to further promote bilateral trade and investments, India Exim Bank has signed a Memorandum of Understanding (MoU) with the Bank of Africa BMCE Group. The MoU was announced during the India-Morocco Business Forum, jointly organized by both the institutions on December 11, 2020. Senior representatives from the institutions were joined by H.E. Mr. Mohammed Maliki, Ambassador of the Kingdom of Morocco to India and Mr G.K. Pant, Chargé d'affaires, Embassy of India in Morocco, at the Forum, which was organized on a virtual platform. 

While addressing the Forum, Ms. Harsha Bangari, Deputy Managing Director, India Exim Bank said that India’s trade with the Middle East and North Africa (MENA) region has traditionally been governed by the fact that the region has been a critical source of energy. Ms. Bangari added that India is now increasingly positioning itself as an economic partner through increased investments in the region. 

India’s bilateral trade with Morocco has increased from US$ 1.2 billion in 2010 to US$ 2.1 billion in 2019. While India’s imports from Morocco are largely dominated by phosphate and potash, India’s exports to the country are more diversified covering textiles, chemical products, petroleum products, pharmaceutical products.

According to Mr. Mohammed Agoumi, Delegate General Manager, Bank of Africa the objective of the MoU is to strengthen cooperation in financing, guaranteeing and other financial mechanism to support projects of interest of both the institutions. The Banks will also jointly explore funding support for Indian companies setting up operations in Morocco and Moroccan companies setting up operations in India as per their respective mandates. 

Till date, India Exim Bank has supported 64 Indian companies for setting up ventures in the MENA region, with a sanctioned amount of  ` 6,684 crore, in various sectors such as textiles, automotive, chemicals and dyes, agro processing, irrigation, renewable energy, construction, healthcare, EPC services, shippingand mining, among others.

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

 

India-CLMV Partnership in Infrastructure Necessary for Enhanced Regional Competitiveness: India Exim Bank Study

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India Exim Bank's publication titled ‘Building Infrastructure: Opportunities for India’ was released during the Inaugural Session of the 6th India-CLMV Business Conclave 2020 on December 03, 2020 in the presence of  Shri Mr V Muraleedharan, Hon’ble Minister of State for External Affairs, Government of India; Dr. Guru Prasad Mohapatra, Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India; H E Mr Chhuon Dara, Secretary of State, Ministry of Commerce, Kingdom of Cambodia; H E Mr Cao Quoc Hung, Deputy Minister of Industry and Trade, Vietnam; H E Ms Khemmani Pholsena, Minister of Industry and Commerce, Lao PDR; H E Dr Than Myint, Minister of Commerce, Myanmar, Mr. Uday Kotak, President, Confederation of Indian Industry, and Managing Director, Kotak Mahindra Bank, and Mr. Chandrajit Banerjee, Director General, Confederation of Indian Industry.  

According to India Exim Bank’s Study, CLMV countries are amongst the fastest growing countries not only within the ASEAN region, but also globally. Moreover, CLMV countries have the lowest wage rates among ASEAN countries leading to lower costs of production. Though the current pandemic and subsequent measures to contain the spread had hit economic activities hard in the first half in the region, through reduced tourist arrivals, disrupted supply chains and dwindling external demand, the economies are already on a path of recovery. 

To catch up with the rest of ASEAN countries in terms of economic development, however, there is a growing demand for building infrastructure both in terms of new infrastructure and upgradation of existing infrastructure that are critical to sustain growth in the region. The current status of infrastructure (physical connectivity, digital and utility) indicates that except for Vietnam, infrastructure in the rest of CLMV countries needs to be scaled up to integrate themselves fully into the ASEAN Economic Community. 

The study also highlights the crucial role infrastructure plays in facilitating trade and investment in the region. Despite recent improvements in infrastructure financing, the annual infrastructure deficit of ASEAN, including CLMV countries, continued to remain high at US$ 184 billion. 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, infrastructure bonds and public private partnership (PPP).

India and CLMV’s robust trade synergy, which grew much faster than average growth in India-ASEAN trade in the last decade is testimony to the longstanding partnership built over the years. In this context, the study identifies potential areas of cooperation between India and CLMV which include, among others, energy sector and water management, e-commerce and digital connectivity, and physical connectivity network including rail, road, air and sea. There is also an urgent need to improve the necessary border infrastructure at trading points to facilitate cross-border movement of goods between India and Myanmar.

Within India-CLMV partnership, companies from both India and CLMV would be able to benefit from improved connectivity and logistics, integrated supply chains, abundance of low cost skilled labor, resulting in spillover benefits such as technological upgradation, production efficiencies and improved regional competitiveness.

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

 

India Exim Bank estimates suggest an immediate need for 5 Indian hospitals across Africa; building regional healthcare hubs

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Healthcare systems across the world are under severe stress with the outbreak of COVID-19. Africa’s healthcare system has been fragile, even before the pandemic, along with an additional burdened of higher number of cases in HIV, malaria, diabetes, hypertension and malnourishment, among others. 

According to Global Health Security Index, which assesses a country’s health system capabilities, 33 out of 54 ranked African countries are rated as least prepared to deal with epidemic threats, which have international implications. 

Estimates suggest that Africa’s health financing gap is as high as US$ 66 billion per annum, indicating that the conventional source of financing healthcare, viz. government financing and donor funding are inadequate. A more holistic approach is thus required to transform the risks of demographic and disease burdens into a demographic dividend. 

Improving access to equitable healthcare will require multisectoral interventions. Cooperation and participation of all stakeholders, including governments, private sector along with the international community and regional development institutions, will be required to build capacities of national health systems.

India’s expertise in modern and traditional medicines, has been the focus of its partnership in healthcare, particularly in Africa. In fact, the good share of African medical tourists in India, is indicative of the Brand image of Indian Healthcare. 

India attracts nearly 50,000 medical tourists from Africa annually. The recent international air travel bans have made it increasingly difficult for medical tourists to avail such health services. Investments by Indian healthcare players can cater to a portion of this client base, apart from catering to the rest of the population of the region. 

Exim Bank’s preliminary study estimates that presently the Indian healthcare sector can significantly benefit from an investment of at least five hospitals in Africa with a capacity of hundred bed each. These could be spread across the five regions of the continent – North, East, Central, West and Southern Africa. 

India needs to realign its foreign policy with Africa, in line with such evolving needs, and must explore investment opportunities in the development of facilities in Africa’s health sector and support African economies achieve their Sustainable Development Goals, mainly Universal Health Coverage (UHC), and Africa's Agenda 2063.

These improvements need to be through a mix of measures including government participation, public-private partnership, joint ventures and foreign direct investments (FDI). 

These suggestions were discussed today at a webinar on “India-Africa Dialogue: Prospects in Healthcare”. The webinar was attended by several dignitaries including Mr. Gulshan Ramrekha, Deputy Permanent Secretary, Ministry of Health and Wellness, who read the message of His Excellency, Dr. Kailesh Kumar Jagutpal Hon’ble Minister of Health and Wellness, the Republic of Mauritius’. Shri. Rahul Chhabra, Secretary (ER), Ministry of External Affairs, Government of India was the Chief Guest at this event.  The session focusing on the regional hubs in Africa had dignitaries like H.E. Mr. Mohammed Maliki, Ambassador of the Kingdom of Morocco to India; H.E. Mr. Gilbert Shimane Mangole, High Commissioner of the Republic of Botswana; Mr. G. V. Srinivas, Ambassador of India to Senegal (concurrently accredited to The Gambia, Guinea Bissau and Cabo Verde); and Mr. A. Ajay Kumar, High Commissioner of India to Uganda (concurrently accredited to Burundi). The experience sharing session by the Indian private sector that is instrumental in shaping India’s developmental role in this direction, included Dr. Devi Prasad Shetty, Chairman, Narayana Health; Mr. K B George, Chairman and Managing Director, HLL Lifecare Ltd.; Dr. K. Hari Prasad, President of Hospital Division, Apollo Hospitals; and Mr. V. Sukumar Hebbar, Vice President & Head, L&T Construction, Larsen & Toubro Ltd.

The Webinar covered three key aspects of healthcare: healthcare infrastructure, healthcare facilities and training and capacity building. The discussions during the webinar highlighted the need for a three-pronged strategy to increase cooperation in building core healthcare infrastructure. These include cooperation through GOI-supported Lines of Credit (LOCs) to African nations and engagements through the public-private partnerships (PPP) mode; cooperation in capacity building and training of medical personnel; and setting up regional hubs across Africa to provide tertiary and quaternary care.

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

 

Shri N. Ramesh takes charge as DMD of Exim Bank

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Mumbai: Shri N. Ramesh took charge as Deputy Managing Director of the Export-Import Bank of India (India Exim Bank), today. He is an officer of Indian Telecom Service from 1999 Batch. Prior to his appointment at India Exim Bank, he served as Executive Director in National Agricultural Cooperative Marketing Federation of India Ltd. He served as Director in Department of Commerce, Government of India from 2016 to 2019, where he oversaw Agriculture, Export Inspection, Biotechnology, and Plantations Divisions. Shri N. Ramesh worked as Director (Marketing) at Marine Products Export Development Authority, Ministry of Commerce and Industry from 2010-2016. 

He has worked in the Department of Telecom in enforcement of licensing conditions and regulations, on all the telecom service providers and the BPO industry. He has also worked with BSNL on development of mobile network and infrastructure. 

Shri Ramesh is a Bachelor of Engineering in Electronics and Communication from Bangalore University and a Post Graduate in Public Policy and Management from Indian Institute of Management, Bangalore.

For More information, please contact: Mr. Swarup Chakraborty, Assistant 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 

 

Exim Bank of India Announces the Winner of the BRICS Economic Research Award 2020 during the 10th BRICS Financial Forum

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India Exim Bank’s BRICS Economic Research Award 2020 was presented to the Award winner, Dr. Adam Yao Liu during the 10th Annual BRICS Financial Forum hosted online by Russia’s State Development Corporation (VEB.RF), on November 16, 2020 in the presence of heads of member development banks of the BRICS Interbank Cooperation Mechanism.

November 16, 2020: Dr. Adam Yao Liu was declared the winner of Export-Import Bank of India’s (India Exim Bank’s) BRICS Economic Research Award 2020 by Mr. David Rasquinha, Managing Director, India Exim Bank, during the 10th Annual BRICS Financial Forum, hosted online by the Russia’s State Development Corporation (VEB.RF), on November 16, 2020.  The Forum saw the participation of the heads of member development banks of the BRICS Interbank Cooperation Mechanism viz. the Brazilian Development Bank (BNDES); VEB.RF; China Development Bank (CDB); Export-Import Bank of India (India Exim Bank) and Development Bank of Southern Africa (DBSA), along with the New Development Bank. The Award comprises prize money of Indian Rupees 1.5 million (approximately USD 21,000), a medal and a citation. India Exim Bank’s occasional paper based on Dr. Liu's Award-winning thesis was also released on the occasion.

The Winning Thesis

Dr. Liu won the Award for his doctoral thesis titled “Building Markets within Authoritarian Institutions: The Political Economy of Banking Development in China”.  Dr. Liu received his doctoral degree in 2018 from Stanford University, USA. He is currently working as an Assistant Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore.

The BRICS Economic Research Award

In the context of India’s Chairmanship of the BRICS Forum during 2016, and under India Exim Bank’s Presidency of the BRICS Interbank Cooperation Mechanism, India Exim Bank instituted the BRICS Economic Research Award in March 2016. The objective of the Award is to stimulate and encourage advanced doctoral research on economics related topics of contemporary relevance to the member nations of BRICS.  

The BRICS Economic Research Award represents India Exim Bank’s on-going efforts at promoting research in the area of international economics, trade & development and related financing. The Award accepted as entries, doctoral thesis written by nationals of any of the five member nations of BRICS, who have been awarded a doctorate or accepted for award of a doctorate from any University or academic institution globally. The details of the Award were disseminated globally through advertisements in print and electronic media.

For further details 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 400 005. Telephone: +91-22- 2217 2708; E-mail: dsinate@eximbankindia.in

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