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    11-Nov-2022

    Refined Petroleum, Electronics, Transport Vehicles, Cereals Etc. Could Help India Expand Exports to The Caribbean: India Exim Bank and Caribexpport’s Joint Study

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  • Press Releases

    10-Nov-2022

    Absa Bank Ltd., South Africa onboards India Exim Bank’s Trade Assistance Programme (TAP)

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  • Press Releases

    02-Nov-2022

    Export-Import Bank of India observes Vigilance Awareness Week 2022

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  • Press Releases

    02-Nov-2022

    India Exim Bank inkspact with Southern Africa’s leading bank to boost India-Africa trade

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  • Press Releases

    27-Oct-2022

    India Exim Bank signs Issuing Bank Agreements with five Bangladeshi Banks to support trade between India and Bangladesh

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  • Press Releases

    07-Oct-2022

    Exim Bank Announces the Winner of IERA Award 2021

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  • Press Releases

    03-Oct-2022

    EXIM BANK EXTENDS LINE OF CREDIT OF USD 100 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF MALDIVES

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  • Press Releases

    12-Sep-2022

    Exim Bank forecasts India’s merchandise exports for Q2 (July-September) of FY2023 to amount to US$ 114.4 bn, and non-oil exports to amount to US$ 91.7 bn

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  • Press Releases

    05-Sep-2022

    Exports from India’s Creative Economy have huge untapped potential-India Exim Bank

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  • Press Releases

    05-Sep-2022

    Exim Bank brings together 75 artisans from more than 20 states of India and neighbouring countries to Delhi

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  • Press Releases

    25-Jul-2022

    Huge Scope for greater engagements between India and African Countries: India Exim Bank

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  • Press Releases

    24-Jun-2022

    India Exim Bank Announces the Winner of the BRICS Economic Research Award 2022

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  • Press Releases

    13-Jun-2022

    Exim Bank forecasts India’s merchandise exports for Q1 (Apr-Jun) of FY2023 to amount to US$ 117.2 bn, and non-oil exports to amount to US$ 93 bn

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  • Press Releases

    10-Jun-2022

    EXIM BANK, on Behalf of The Government of India, Extends a Short-Term Line Of Credit Of USD 55 Million To The Government Of The Socialist Republic Of Sri Lanka

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  • Press Releases

    09-Jun-2022

    Hon’ble Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman launches the New E-Tracking and Remote Administration (NETRA) Platform developed by India Exim Bank

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  • Press Releases

    27-May-2022

    Development Finance Institution and Agency Leaders of Australia, India, Japan, and USA agreed to enhance collaboration to address the infrastructure development challenges facing Indo-Pacific region

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  • Press Releases

    23-May-2022

    India Exim Bank - JBIC conclude US$ 100 mn Loan Agreement to Support the Indian Healthcare Sector related to COVID-19

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  • Press Releases

    13-May-2022

    India Exim Bank extended Buyer’s Credit facility of USD 164.69 mn to finance project envisaging construction of 400 Kv Transmission Line and Associated Substations in Cameroon

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  • Press Releases

    12-May-2022

    India Exim Bank reports threefold increase in profits in FY22; loan assets grow by 13.26%

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  • Press Releases

    06-May-2022

    Strengthening the financing architecture for project exports should be a priority: Shri Piyush Goyal

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Refined Petroleum, Electronics, Transport Vehicles, Cereals Etc. Could Help India Expand Exports to The Caribbean: India Exim Bank and Caribexpport’s Joint Study

Release of Export-Import Bank of India’s joint research study with the Caribbean Export Development Agency titled, “Enhancing India-CARIFORUM Economic Relations and Prospects for Cooperation” at the hands of Mr Raju Sharma - Charge d'affaires High commission of India to Trinidad and Tobago and on the right is Mr Leo Naut - Deputy Executive Director - Caribbean Export Development Agency in the virtual presence of Mr. N. Ramesh, Deputy Managing Director, India Exim Bank at the “Caribbean Investment Forum” on November 11, 2022 in Trinidad and Tobago. 

Export-Import Bank of India’s (India Exim Bank) joint research study with the Caribbean Export Development Agency titled, “Enhancing India-CARIFORUM Economic Relations and Prospects for Cooperation” was released at the hands of Mr Raju Sharma - Charge d'affaires High commission of India to Trinidad and Tobago and on the right is Mr Leo Naut - Deputy Executive Director - Caribbean Export Development Agency in the virtual presence of Mr. N. Ramesh, Deputy Managing Director, India Exim Bank at “Caribbean Investment Forum” organized by Caribbean Export Development Agency and Caribbean Association of Investment Promotion Agencies (CAIPA)  in association with Ministry of Trade and Industry, Government of Trinidad and Tobago on November 11, 2022 in Trinidad and Tobago.

The study outlines opportunities that are present for both India and the Caribbean region in the areas of trade, investment and mutual cooperation. 

The study highlights that the Caribbean economies are characterized by high openness to trade and over the years, the trade between India and the Caribbean region has witnessed a robust growth.  From a meagre level of US$ 52.4 million in 2001, India and Caribbean trade witnessed a robust growth recording US$ 1.7 billion in 2021.  The study points out that India has huge potential to expand exports to the Caribbean in product categories such as refined petroleum, electronics, transport vehicles, cereals, optical instruments, animal or vegetable fats and oils, among others. 

India’s economic engagement with countries in the Caribbean region has remained below its true potential, mainly on account of factors such as geographical distance and connectivity, and size of individual economies.  With the Caribbean countries having numerous trade agreements with major global trade blocs, engagement with the region for India could prove to be a gateway to larger markets, besides the potential existing in the Caribbean region itself.

The study also presents an overview of investment framework in select Caribbean countries and highlights sectors such as creative industries, service industries, manufacturing, resort and hotel development, agriculture, ICT and business process outsourcing, logistics and transportation, renewable energy as priority sectors for attracting investments in the region. 

Some policy actions suggested in the study for improving economic relations between India and Caribbean are: increasing the coverage of trade and investment agreements, enhancing trade facilitation measures, undertaking proactive and targeted trade promotion activities, as well as boosting investment in infrastructure, promoting reforms in logistics sector, and enhanced diplomatic engagements by the way of increased missions/ embassies in Caribbean countries.  

For further information, please contact 
Mr. David Sinate
Chief General Manager
Research & Analysis Group
Export-Import Bank of India
Maker Chambers IV, Floor 8
Nariman Point, Mumbai – 400021, India 
Phone : +91 22 – 22860 333
E-mail : rag@eximbankindia.in 
Website : www.eximbankindia.in

Absa Bank Ltd., South Africa onboards India Exim Bank’s Trade Assistance Programme (TAP)

Signing of the Issuing Bank Agreement by Mr. N Ramesh, Deputy Managing Director, India Exim Bank and Mr. Anand Naidoo, Managing Executive, Absa Bank Ltd. at Mumbai

Mumbai, November 10, 2022 – India Exim Bank has concluded Issuing Bank Agreement with Absa Bank Ltd. (ABSA), South Africa during a visit of a delegation from ABSA led by its Managing Executive, Mr. Anand Naidoo in Mumbai on November 10, 2022. The agreement was signed by Mr. N Ramesh, Deputy Managing Director of India Exim Bank and Mr. Anand Naidoo, thereby on-boarding ABSA on India Exim Bank’s new trade facilitation initiative, Trade Assistance Programme (TAP).

India Exim Bank, through its global network of offices and wide range of financial, advisory and capacity building activities, has strived to play a catalytic role, as a key player, in promoting India’s international trade and investment relations with partner countries, while contributing to the internationalisation endeavours of Indian business.

India Exim Bank has recently developed a new trade facilitation initiative Trade Assistance Programme (TAP). Under TAP, India Exim Bank provides support through credit enhancement to trade instrument(s), thereby enhancing the capacity of commercial banks/financial institutions in India to support cross-border trade transactions involving markets where trade lines are constrained or where the potential has not been harnessed. 

During the signing of the agreement, India Exim Bank’s Deputy Managing Director, Mr. N Ramesh highlighted that over the last few months, India Exim Bank has supported multiple trade transactions with several countries in South Asia, Africa, Latin America, etc. under the programme covering a wide range of sectors including agriculture, automotive parts, capital and engineering goods, food, iron & steel and textiles. With the increasing diversification of India’s global trade towards developing countries, African countries have emerged as significant trade partners for India. The conclusion of Issuing Bank Agreement with ABSA opens up opportunities to facilitate incremental trade between India and Africa. Such support towards trade facilitation would complement and strengthen the growing economic engagement between India and Africa. 

About India Exim Bank- India Exim Bank was set up in 1982 by an Act of Parliament and is fully owned by the Government of India. It is the principal financial institution for coordinating the working of institutions engaged in financing exports and imports.  India Exim Bank, has over the years, played a catalytic role in facilitating India’s integration with the global economy by promoting, financing and facilitating India’s international trade and investment. The Bank’s range of programmes have helped Indian enterprises become competitive and develop a global footprint.

About ABSA-Absa Bank Ltd.(ABSA), a wholly owned subsidiary of the Absa Group, offers a range of retail, business, wealth management, corporate and investment solutions to customers and clients across South Africa. Absa Group Ltd. is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups with a presence in 15 countries across the African continent, as well as offices in the United Kingdom and the United States. 

For further information, please contact: 
India Exim Bank
Mr. Pushpesh Tyagi  
Deputy General Manager
Export-Import Bank of India
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400005, India
Tel: +91-22-2217-2821 / 2600
E-mail: tap@eximbankindia.in 

Absa Bank Ltd.
Mr. Vinesh Kassen  
Principal, Corporate and Investment Banking
Absa Bank Ltd., South Africa
1st Floor, North Campus,
15 Alice Lane, Sandton,
Johannesburg, South Africa
Tel: +27-11-506-7796
E-mail: vinesh.kassen@absa.africa

Export-Import Bank of India observes Vigilance Awareness Week 2022

Ms. Harsha Bangari, Managing Director administering the pledge in English

Mr. N. Ramesh, Deputy Managing Director administering the pledge in Hindi

As advised by the Central Vigilance Commission, Export-Import Bank of India (India Exim Bank) commenced the observance of Vigilance Awareness Week 2022 from October 31, 2022 to November 06, 2022. The Integrity Pledge was administered amongst employees using physical as well ase-platform by Ms. Harsha Bangari, Managing Director and Mr. N. Ramesh, Deputy Managing Director at the Bank’s Head Office. During the function held for administering the pledge, Bank’s Managing Director and Deputy Managing Director encouraged the employees to maintain the highest level of integrity and work unstintingly for eradication of corruption at workplaces and every sphere of life.

 

India Exim Bank inkspact with Southern Africa’s leading bank to boost India-Africa trade

Signing of the Master Risk Participation Agreement by Mr. Vikramaditya Ugra, Chief General Manager, India Exim Bank and Mr. Chris Alderson, Global CoHead – Debt & Trade Solutions, First Rand Bank, at Johannesburg, in the presence of Mr. Silvino Augusto Jose Moreno, Minister for Industry and Commerce, Mozambique and Mr. Jaideep Sarkar, High Commissioner of India to South Africa.

 

Release of India Exim Bank’s study titled ‘Reinvigorating India’s Economic Engagements with Southern Africa’ by Mr. Silvino Augusto Jose Moreno, Minister for Industry and Commerce, Mozambique, Mr. Jaideep Sarkar, High Commissioner of India to South Africa and Ms. Busi Mabuza, Board Chairperson, Industrial Development Corporation of South Africa Limited, and Chair, BRICS Business Council, Ms. Anju Ranjan, Consul General of India in Johannesburg, and Mr Rajesh Sharma, Chairman & Managing Director, Ion Exchange (India) Ltd., Mr. Vikramaditya Ugra, Chief General Manager, India Exim Bank.

 

Johannesburg, October 31, 2022 - Export-Import Bank of India (India Exim Bank)has concluded a Master Risk Participation Agreement for supporting trade transactions with FirstRand Bank (FRB) Limited. The agreement was signed in Johannesburg on Monday on the sidelines of the India - Southern Africa Regional Conclave, in the presence of Mr. Silvino Augusto Jose Moreno, Minister for Industry and Commerce, Mozambique, Mr. Jaideep Sarkar, High Commissioner of India to South Africa and Ms. Busi Mabuza, Board Chairperson, Industrial Development Corporation of South Africa Limited, and Chair, BRICS Business Council.

 

FRB has a presence in Botswana, Eswatini, Ghana, Lesotho, Mozambique, Namibia, Nigeria, South Africa, Tanzania and Zambia, besides a representative office in Mumbai.The agreement opens financing avenues to support trade between India and Africa,aiming to strengthen the growing economic engagement between India and African nations.

 

The agreement has been signed under India Exim Bank’s latest trade facilitation initiative, the Trade Assistance Programme.Under this programme, India Exim Bank provides credit enhancement to trade instruments, thereby augmenting the capacity of commercial banks/financial institutions to undertake cross-border trade transactions involving markets where trade lines are constrained, or where the potential has not been harnessed.

 

Speaking on the occasion, India Exim Bank’s Chief General Manager, Mr. Vikramaditya Ugra, highlighted, “Over the last few months, India Exim Bank has supported multiple trade transactions under the programme, covering a wide range of sectors including agriculture, automotive parts, capital and engineering goods, food, iron & steel and textiles.”

 

India Exim Bank’s publicationReinvigorating India’s Economic Engagements with Southern Africa’ was also released at the Conclave.With the increasing diversification of India’s global trade towards developing countries, Southern African countries have emerged as significant trade partners for India.India Exim Bank finds substantial complementarity in India’s exports and the Southern African Custom Union (SACU)’s imports over the last decade.The study identifies products with strongexport potential from India to SACU. A Preferential Trade Agreement is expected to ease the trade hurdles between India and SACU, leading to overall increase in India’s trade and investment with SACU and with the broader region of the Southern African Development Community (SADC). As new trade and investment partnerships are forming across the world, the study highlights the necessity of India and Southern African countries to forge mutually beneficial collaborations in several areas of interest.

 

For further information, please contact:

 

Mr. Pushpesh Tyagi

Deputy General Manager

Export-Import Bank of India

Centre One Building, Floor 21,

World Trade Centre Complex, Cuffe Parade,

Mumbai 400005, India

Tel: +91-22-2217-2821 / 2600

E-mail: tap@eximbankindia.in

 

Mr. Sanjay Choudhary

Resident Representative

Export-Import Bank of India,

Atrium on 5th, 2nd Floor, Tower East,

Sandton City, Sandton 2196,

Johannesburg, S.A

Tel: +27 11 3265113/103

E-mail: eximjro@eximbankindia.in

India Exim Bank signs Issuing Bank Agreements with five Bangladeshi Banks to support trade between India and Bangladesh

 Dhaka, October 21, 2022 - Export-Import Bank of India (India Exim Bank)during October 16-17, 2022, concluded Issuing Bank Agreementswith 5 Bangladeshi Banks viz., Mutual Trust Bank Ltd., Dhaka Bank Ltd., Bank Asia Ltd., Midland Bank Ltd. and Shahjalal Islami Bank under India Exim Bank’s new trade facilitation initiative, Trade Assistance Programme (TAP). 

India Exim Bank, through its global network of offices and wide range of financial, advisory and capacity building activities, has strived to play a catalytic role, as a key player, in promoting India’s international trade and investment relations with partner countries, while contributing to the internationalisation endeavours of Indian business. 

With this backdrop, India Exim Bank has developed a new trade facilitation initiative Trade Assistance Programme (TAP). Under TAP, India Exim Bank provides support through credit enhancement to trade instrument(s), thereby enhancing the capacity of commercial banks/financial institutions to support cross-border trade transactions involving markets where trade lines are constrained or where the potential has not been harnessed. 

During the signing of the agreements, India Exim Bank’s Chief Financial Officer Mr. Tarun Sharma highlighted that over the last few months, India Exim Bank has supported multiple trade transactions with Bangladesh aggregating close toUSD 20mn covering a wide range of sectors including agriculture, automotive parts, capital and engineering goods, iron & steel and textiles  . The conclusion of Issuing Bank Agreements with the above 5 banks opens up more opportunities to support trade between the countries and enable these banks to establish working relationship with wider number of commercial banks in India. 

India Exim Bank also organised an interactive session on TAP in Dhaka on October 17, 2022, to brief the partner banks about the objective, process flows and documentation. The session was attended by around 50 bankers from local banks in Bangladesh. The Team highlighted the following key offerings of TAP covering economies across Asia, Africa and Latin America: (a) Support to Trade Finance Instruments; (b) Irrevocable Reimbursement Undertaking; (c) Fronting Guarantees / Issuance of Counter Guarantees; and (d) Risk Participation. 

Such support towards trade facilitationwould complement and strengthenthe growing economic engagement between India and Bangladesh. India Exim Bank has, on behalf of the Government of India, extended four Lines of Credit [LOCs] aggregating USD 7.862 billion to the Government of the People’s Republic of Bangladesh, for financing 42 developmental projects in Bangladesh. India Exim Bank has also extended a term loan of USD 1.60 billion for 2X660MW Maitree Super Thermal Power Project, which is expected to generate significant development outcomes including improved industrial output due to better power availability in Bangladesh. 

For further information, please contact:
India Exim Bank
Mr. Pushpesh Tyagi
Deputy General Manager
Export-Import Bank of India
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400005, India
Tel: +91-22-2217-2821 / 2600
E-mail: tap@eximbankindia.in 

Mr. Priyanshu Tiwari
Resident Representative
Export-Import Bank of India,
|Modhumita Plaza Concord,
Floor 12, Plot No. 11, Road No. 11, Block G, Banani,
Dhaka, Bangladesh
Tel:+880-2-5504-2444

Exim Bank Announces the Winner of IERA Award 2021

Presentation of India Exim Bank International Economic Research Annual (IERA)Award 2021 by Mr. T.C.A Ranganathan, Former Chairman and Managing Director of Export-Import Bank of India and Dr. Aditya Bhattacharjea, Professor, Department of Economics, Delhi School of Economics, to the Award winner,Dr. Kanika Pathania in the presence of Dr. Anuradha Guru, Economic Adviser, Ministry of Corporate Affairs, and Ms. Harsha Bangari, Managing Director, Export-Import Bank of India at the Award Function held in New Delhi on October 06, 2022.  

New Delhi: October 06, 2022:Dr. Kanika Pathania was declared the winner of Export-Import Bank of India’s (India Exim Bank’s) International Economic Research Annual (IERA) Award 2021 for her doctoral thesis titled “Inverted Duty Structure and Effective Rate of Protection: Theoretical and Empirical Analyses”.IndiaExim Bank’s IERA Award 2021 was announced by Ms. Harsha Bangari, Managing Director, India Exim Bank, at an award function held on October 06, 2022, in New Delhi. The Award comprises prize money of 3.5 lakh and a citation.  The function was graced by Mr. T.C.A Ranganathan, Former Chairman and Managing Director, India Exim Bank, Dr. Aditya Bhattacharjea, Professor, Department of Economics, Delhi School of Economics, and Dr. Anuradha Guru, Economic Adviser, Ministry of Corporate Affairs, where the IERA Award2021 was presented to Dr. Pathania.India Exim Bank’s occasional paper based on Dr. Kanika Pathania’sAward-winning thesis was also released on the occasion.

On this occasion Mr. Ranganathan congratulated India Exim Bank for its continuous efforts to promote economics research in India. Dr.Bhattacharjea highlighted the broad policy implications of the Award-winningresearch, especially for developing economies like India. Dr Guru noted that the research study is very pertinent in the present scenario of increased emphasis on Free Trade Agreements (FTAs) and integration of India into the Global Value Chains.

Ms. Bangari, highlighted that the IERA Award, instituted in 1989, currently in its 33rd year, is given to Indian nationals for their outstanding doctoral dissertationsin the area of international economics, trade, development and related financing from Indian or foreign universities. 

The Winning Thesis

Dr. Kanika Pathania received her doctoral degree in 2021 from the Delhi School of Economics, University of Delhi, New Delhi. The thesis was written under the supervision of Dr. Aditya Bhattacharjea and Dr. Uday Bhanu Sinha, Delhi School of Economics, University of Delhi.

India Exim Bank’s IERAAward

India 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. The Bank has opened entries for the 2022 edition of the Award.

To know more about the past winners and to apply for the IERA 2022, please visit:http://www.eximbankindia.in/iera-award

For further details please contact:
Mr. David Sinate, Chief General Manager,
Research & Analysis Group, Export Import Bank of India,
8th Floor, Maker Chamber IV, Jamnalal Bajaj Marg, Nariman Point, Mumbai – 400021, T: 91-22-22860310,
E-mail: dsinate@eximbankindia.in

EXIM BANK EXTENDS LINE OF CREDIT OF USD 100 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF MALDIVES

H.E. Ibrahim Ameer, Minister of Finance, Government of the Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank signing the Line of Credit (LOC) Agreement of USD 100 millionfor financing developmental Projects in Maldives.

H.E. Ibrahim Ameer, Minister of Finance, Government of the Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank, exchangingthe LOC Agreement of USD 100 millionfor financing developmental Projects in Maldives,at a ceremony organised by the Ministry of Foreign Affairs, Government of the Republic of Maldives, in presence of Shri Vinay Mohan Kwatra, Foreign Secretary of India and Shri Ahmed Latheef, Foreign Secretary of the Republic of Maldives.

Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 100 millionto the Government of the Republic of Maldives for the purpose of financing developmental projects.The LOC Agreement to this effect was signed in Male’, Maldives on Sunday, October 02, 2022by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank.The LOC Agreement was exchanged at a ceremony organised by the Ministry of Foreign Affairs, Government of the Republic of Maldives,in presence of Shri Vinay Mohan Kwatra, Foreign Secretary of India and Shri Ahmed Latheef, Foreign Secretary of the Republic of Maldives. 

With the signing of the above LOC Agreement, Exim Bank, till date, has extended 6 (Six) 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 1.43 billion. 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 StadiumProject, Defence projects,Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project and Sports Infrastructure.

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

Exim Bank forecasts India’s merchandise exports for Q2 (July-September) of FY2023 to amount to US$ 114.4 bn, and non-oil exports to amount to US$ 91.7 bn

Export-Import Bank of India (Exim Bank) forecasts India’s total merchandise exports to amount to US$ 114.4 bnduring the second quarter (July-September) of FY2023, growing at 11.4% over the corresponding quarter of the previous year. Non-oil exports are forecast to amount to US$ 91.7 bn during the said period, growing at 5.4%over the corresponding quarter of the previous year.  The rise in India’s exports could be shadowed by softening global commodity prices, possible slowdown in major trade partners, along with inflationary pressures and tight monetary policiesaround the world. 

Forecast of growth in India’s total merchandise exportsand non-oil exports are released by 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 3rdquarter of FY 2023 (i.e.October-December 2022) would be released during the first week of December 2022.

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 has 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, 8th Floor, Maker Chamber IV, Jamnalal Bajaj Marg, Nariman Point,
Mumbai 400 021; T: +91-22-2286 0363/ 0310/ 0311
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, and uncertainties in the global economy and the global geo-political tension.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.

Exports from India’s Creative Economy have huge untapped potential-India Exim Bank

A research paper by India Exim Bank maps the untapped export potential of India’s creative economy. The study, which is first of its kind, titled ‘Reflection & Development of India’s Creative Economy’, analyzed 7 different creative segments such as art & crafts, audio visuals, design, visual arts, amongst others, as per UN classification, to map the export potential. 

According to India Exim Bank research, India’s total exports of creative goods and services stood at close to US$ 121 billion as in 2019, of which export of creative services accounted for nearly USD 100 billion.

In India, the contribution of design segment was 87.5% of the total creative goods exports in 2019, and another 9% is contributed by art and crafts segment. Further analysis shows that, in the Indian context, creative goods industry has a trade surplus of US$ 16 billion. 

This Study on creative economy was released by Padma Vibhushan Dr. Sonal Mansingh, at Exim Bazaar organized at the National Crafts Museum, New Delhi on September 3, 2022.

The creative economy is significantly diversified in India. Industries such as film give an important push to the creative economy. India ranks 6th globally, outside the US, with respect to the top international box office markets by revenue.  

The Study draws home the critical role technology is playing with human creativity, knowledge, intellectual property, amongst others in this evolving arena. The study also captures the role of artificial intelligence and machine learning, extended reality, and blockchain, which are impacting the functioning of creative economy. 

This unique Study by India Exim Bank provides various recommendations to promote the creative economy in India. Amongst others, the suggestions include defining and mapping the creative industries in India, funds to finance the creative industries, focusing on joint programs, addressing the issue of copyrights, promoting MSMEs and local artisans, establishing creative districts and hubs, and forming a specialized institution for creative industries.

The study also analyses the Creative Economy policies of countries such as the UK, Australia, France, South Korea, Indonesia, and Thailand where Creative Economy has found significant importance, with dedicated ministries or institutions. 

While India has made progress in industries associated with the creative economy, the country has significant scope to upscale the value of its creative economy. India Exim Bank in its Study suggests for drawing up a single definition for creative economy in the country, while having a dedicated institution, which could explore its untapped potential.

For any information may contact:
Mr. S Prahalathan Chief General Manager, Research & Analysis Group, India Exim Bank
prahalathan@eximbankindia.in 

Exim Bank brings together 75 artisans from more than 20 states of India and neighbouring countries to Delhi

9th edition of ‘Exim Bazaar’ inaugurated by Padma Vishubhan Dr. Sonal Mansingh, Hon’ble Member of Parliament (Rajya Sabha)

Padma Vishubhan Dr. Sonal Mansingh, Hon’ble Member of Parliament (Rajya Sabha) along with the Managing Director of India Exim Bank, Ms. Harsha Bangari inaugurated the 9th edition of ‘Exim Bazaar’, in presence of Shri U. P. Singh, Secretary, Ministry of Textiles, at the National Crafts Museum and Hastkala Academy (Ministry of Textiles), Pragati Maidan, New Delhi today. The Bazaar, organized by India Exim Bank, showcases traditional and contemporary art and craft products from across the country and from the neighbouring countries, from Saturday, September 3 to Tuesday, September 6, 2022.

As a part of Government of India’s Neighbourhood First policy, artisans from neighbouring nations of Bangladesh, Bhutan, Myanmar, Nepal and Sri Lanka have also been invited for the first time to showcase their traditional art forms. 

The exhibition assumes significance as it aims to support local, home-grown artisans from various states. Complimenting the role Exim Bazaar plays to strengthen India’s Handicraft and Handloom sector, Padma Vishubhan Dr. Sonal Mansingh said, “Artisans faced immense losses as their business scope was much impacted due to the pandemic. For women and their families, it was especially tough to handle financial stress in the lockdown. Opportunities like Exim Bazaar should be encouraged to display one’s work and make up for the lost time.”

Commenting on why this platform should be leveraged by the grassroots enterprises, Ms. Bangari said, “We are happy to bring together 75 artisans from all over the Indian subcontinent to mark the 75 years of India’s independence, Azadi Ka Amrit Mahotsav. It is inspiring for us to see such a positive response from Delhi for the artisans. The Exim Bazaar is organized by the India Exim Bank with an objective to boost business prospects for many individual artisans as well as micro & grassroots enterprises. The exhibition provides wider visibility and brand promotion for the artisans to market their products. This gives them access to direct customers and generate future sales leads, as well as understanding consumer preferences, improve industry knowledge and discover latest trends.”

During the pandemic many artisans and rural enterprises suffered significant loss in income. Exim Bank as a responsible financial institution continued its handholding support by conducting design, product, and educative workshops for the artisans during this period. This Exim Bazaar is a continuation of such initiatives thereby helping to provide a platform for the artisans to bounce back and revive itself. 

This ongoing Exim Bazaar at Delhi has seen participation of artisans and weavers from across the country, exhibiting their diverse range of skills, talents, and techniques, with many being national and state awardees. 

Art forms such as Madhubani paintings, leather puppetry, Warli paintings, Pichwai paintings, Pattachitra and Phad paintings, Banarasi silk fabrics, lac bangles, Kawad paintings, ceramic blue pottery, Dokra art, terracotta, Jamdani sarees, wrought metal art among others are on display and available for sale at this exhibition. Exim Bazaar, an exhibition-cum-sale of handmade arts and crafts of India curated by Exim Bank, has come to Delhi for the first time since its inception. 

Exim Bank hopes that this event would boost business prospects for many individual artisans as well as micro & grassroots enterprises. With the footprint of thousands of visitors, this exhibition would provide wider visibility and brand promotion for the artisans to market their products. This would give them access to direct customers and generate future sales leads, as well as understanding consumer preferences, improve industry knowledge and discover latest trends.

 On this occasion, Padma Vishubhan Dr. Sonal Mansingh, released Exim Bank’s publication titled ‘Reflection and Development of India’s Creative Economy’. The study, which evaluates the trade potential of the nation in the creative economy, is the first of its type in the Indian setting. The study estimates India’s total exports of creative goods to be over US$ 20 billion, exhibiting further potential to grow, if tapped suitably by policy makers. Dr. Mansingh also released a publication of the success stories of Exim Bank’s intervention with the grassroots enterprises for revival of India’s traditional artforms.

Exim Bank assists artisans, master craftsmen, weavers, clusters, self-help groups, grassroots and micro enterprises through capacity building and sourcing overseas buyers / distributors, under its Grassroots Initiatives and Development (GRID) and Marketing Advisory Services (MAS) programmes.  The assistance under these programmes has enabled financial empowerment, employment generation, promotion of entrepreneurship among individual artisans, and ensuring the survival and sustenance of centuries-old traditional handicraft and handloom products.

For further information, please contact:
Mr. Dharmendra Sachan, General Manager, GRID & MAS, India Exim Bank 8th Floor,
Maker Chamber IV, Nariman Point, Mumbai 400 021
E-mail: grid@eximbankindia.in

Huge Scope for greater engagements between India and African Countries: India Exim Bank

India Exim Bank’s study titled “Building a Resilient Africa: Enhanced Role of India” was released during the 17th CII-EXIM Bank Conclave on India - Africa Growth Partnership on July 19, 2022, in the presence of Shri. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India; H.E. Mr. Marie Cyril Eddy Boissezon, GOSK, Vice President, Republic of Mauritius; H.E. Mr. Badara A. Joof, Vice-President, Republic of The Gambia; H.E. Dr. James Wani Igga, Vice-President, Republic of South Sudan; H.E. Ms. W.K. Mutale Nalumango, Vice President, Republic of Zambia; H.E. Ms Netumbo Nandi-Ndaitwah, Deputy Prime Minister and Minister of International Relations and Cooperation, Republic of Namibia; Ms Harsha Bangari, Managing Director, India Exim Bank, along with senior corporate executives. 

India Exim Bank’s study finds huge trade complementarity between India and Africa.India’s total trade with Africa stood at US$ 82.5 billion in 2021, recording the highest ever level witnessed by both regions. Using ITC’s export potential methodology, the study finds bilateral export potential of India and Africa at US$ 48 billion. The paper also examined the evolution of India’s development cooperation with Africa over the years and emphasised the need for India to step up efforts to enhance this developmental partnership, especially in the context of changing global architecture in recent times. To understand geographical and sectoral distribution of India’s project exports to Africa, contracts secured by Indian project exporters in projects awarded by the MDBs like the AfDB, and the World Bank have also been analysed. The study further recommends strategies to enhance India’s role in building a post pandemic resilient Africa and assist it to rebound to its earlier high growth trajectory and exports through increased collaboration in potential sectors like agriculture, healthcare, and renewable energy, among others. The study also recommends exploring alternate mechanisms for infrastructure financing and addressing the existing trade finance gap.

Addressing the participants during the inaugural session of the Conclave,Hon’ble Minister Shri. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of Indiaemphasised that India looks at Africa as partner in progress, with India-Africa partnership best described through four pillars - people, business, trade and government.  He has underlined that Africa-India partnership will play a very important role going forwardand lead the developing world out of food insecurity and bring prosperity.

In her address, Ms.Harsha Bangari, Managing Director, India Exim Bank, highlighted that bridging gaps in trade finance couldunlock the latent export potential of India and Africa and can increase the share in global export participation of both regions. She underscored the increased role of multilateral development banks (MDBs) and development finance institutions (DFIs) in providing measures to reduce the trade finance gap. Ms Bangari stressed thatIndia needs to be dynamic in its engagements in Africa and address the changing needs of the Continent, while emphasising thehuge opportunity African Continental Free Trade Area (AfCFTA) agreement presents for India.

For further information, please contact
Mr. David Sinate, Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005. 
Telephone: +91-22-22182511; Fax: +91-22-2218 0743; 
E-mail: dsinate@eximbankindia.in

 

India Exim Bank Announces the Winner of the BRICS Economic Research Award 2022

India Exim Bank’s BRICS Economic Research Award 2022 was presented to the Award winner, Dr. Apoorv Gupta during the 12th Annual BRICS Financial Forum hosted online by China Development Bank (CDB), on June 17, 2022 in the presence of heads of member development banks of the BRICS Interbank Cooperation Mechanism.

June 17, 2022: Dr. Apoorv Gupta was declared the winner of Export-Import Bank of India’s (India Exim Bank’s) BRICS Economic Research Award 2022 by Ms. Harsha Bangari, Managing Director, Export-Import Bank of India, during the 12th BRICS Annual Financial Forum, hosted online by China Development Bank, on June 17, 2022. 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 20,000), a medal and a citation. 

The Winning Thesis

Dr. Apoorv Gupta won the Award for his doctoral thesis “Essays on Finance and Development”. Dr. Gupta received his doctoral degree in 2020 from Northwestern University, USA. He is currently working as Assistant Professor of Economics, Dartmouth College, USA.

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- 2286 0363; Fax: 022- 2218 0743;
E-mail: dsinate@eximbankindia.in

Exim Bank forecasts India’s merchandise exports for Q1 (Apr-Jun) of FY2023 to amount to US$ 117.2 bn, and non-oil exports to amount to US$ 93 bn

Export-Import Bank of India (India Exim Bank) forecasts India’s total merchandise exports to continue to cross the US$ 100 bn mark, for the fourth consecutive quarter in a row.  The first quarter exports would be close to US$ 120 bn (US$ 117.2 bn) growing at 22.7%.  Non-oil exports continue to witnessa double-digit growth (12.6%) amounting to US$ 93 bn, during the first quarter (April-June) of 2022-23.  This compares to US$ 95.5 bn and US$ 82.6 bn of total exports and non-oil exports, respectively, for the corresponding quarter of the previous year.  The rise in India’s exports could be attributed largely to the continued increase in global commodity prices driven by supply shocks, enhanced price competitiveness owing to exchange rate movements, and benefits from possible trade diversion.  The growth forecast may be subject to commodity price volatility, and uncertainties in the global economy mainly driven by the current geo-political tension.

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 2ndquarter of FY 2023 (i.e. July-September 2022) would be released during the first week of September 2022.

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 has 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, 8th Floor, Maker Chamber IV, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400 021;
T: +91-22-2286 0363/ 0310/ 0311
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, and uncertainties in the global economy mainly driven by the geo-political tension.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, on Behalf of The Government of India, Extends a Short-Term Line Of Credit Of USD 55 Million To The Government Of The Socialist Republic Of Sri Lanka

LOC Agreement of USD 55 mn was signed by Mr. K. M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies, Government of the Socialist Republic of Sri Lanka and Mr. Nirmit Ved, General Manager, Exim Bank, in the presence of the Prime Minister, Government of the Socialist Republic of Sri Lanka, H.E. Mr. Ranil Wickremesinghe and the High Commissioner of India to Sri Lanka, H.E. Mr. Gopal Baglay, in Colombo on June 10, 2022

Export-Import Bank of India (Exim Bank) has, on behalf of the Government of India, extended a Short Term Line of Credit (STLOC) of USD 55 mn to the Government of the Socialist Republic of Sri Lanka for financing Procurement of Urea Fertiliser.

The STLOC Agreement to this effect, was signed by Mr. K. M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies, Government of the Socialist Republic of Sri Lanka and Mr. Nirmit Ved, General Manager, Exim Bank, in the presence of the Prime Minister, Government of the Socialist Republic of Sri Lanka, H.E. Mr. Ranil Wickremesinghe and the High Commissioner of India to Sri Lanka, H.E. Mr. Gopal Baglay, in Colombo on June 10, 2022.

With the signing of the above LOC Agreement for USD 55 mn, Exim Bank, till date, has extended 11 (eleven) Lines of Credit to the Government of the Socialist Republic of Sri Lanka, on behalf of the Government of India, taking the total value of LOCs extended to USD 2.73 bn. Projects covered under the LOCs extended to the Government of the Socialist Republic Sri Lanka includes supply of Petroleum products, Railway projects, Defence and Infrastructure Projects. 

With the signing of this LOC Agreement, Exim Bank has now in place 274 Lines of Credit, covering 61 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 27.81 bn, 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, Kidwai Nagar East,
New Delhi-110023. Telephone: +91 11 24607710/,
E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

Hon’ble Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman launches the New E-Tracking and Remote Administration (NETRA) Platform developed by India Exim Bank

Recent initiatives of the Government of India have infused a new vitality to the Indian Development and Economic Assistance Scheme (IDEAS), preparing the country for a new leap forward in development partnerships during the Amrit Kaal, said Smt. Nirmala Sitharaman, Hon’ble Minister of Finance and Corporate Affairs, Government of India, during an event organized on the theme of India’s Economic Journey @ 75, at Vigyan Bhawan, New Delhi, on 8th June 2022, as part of the Iconic Week of the Ministry of Finance and Corporate Affairs, Government of India marking the occasion of Azaadi ka Amrit Mahotsav. 

Speaking on the occasion, Smt. Sitharaman highlighted the myriad benefits of concessional credit lines extended by the Export-Import Bank of India (India Exim Bank) at the behest of the Government of India under IDEAS, for both partner countries and India. She highlighted the success of IDEAS in sharing India’s development experience with partner countries to support economic and infrastructure projects, generate socio-economic benefits, promote bilateral trade, and support capacity building and skills transfer. She also underscored the complementary benefits of IDEAS for India through expansion in trade, and resultant economic growth and employment generation in the country.  

During the event, a video prepared by India Exim Bank on the impact of Lines of Credit extended under IDEAS, showcased the evolving scope and scale of IDEAS and displayed select projects in partner countries that are engendering multi-dimensional socio-economic benefits. The video also informed participants about the IDEAS guidelines and model documents created by India Exim Bank, that are further easing the process of procurement and improving the implementation and quality of projects under IDEAS. 

In another key step towards bolstering India’s commitment to development partnership as the country advances from the Amrit Mahotsav towards the Amrit Kaal, Smt. Sitharaman launched a one-stop, dynamic monitoring platform developed by India Exim Bank, termed NETRA (New E-Tracking and Remote Administration). The NETRA platform allows seamless and secure access to information, real-time updates on project implementation, and expeditious delivery of quality projects under IDEAS. The NETRA platform is equipped to capture more than 200 data points, providing information at all stages, right from announcement of the concessional credit lines by the Government of India, to monitoring of the approval process, and implementation of the projects. The NETRA platform, along with the revised IDEAS guidelines and model documents, would be harbingers of a new era of development cooperation for India.

For further information, please contact

Ms. Deepali Agarwal, Chief General Manager, Export-Import Bank of India, Center One Building, 21st Floor, World Trade Center Complex, Cuffe Parade, Mumbai 400005, Phone: +91-22-22172700
E-mail : ccg@eximbankindia.in

 

Development Finance Institution and Agency Leaders of Australia, India, Japan, and USA agreed to enhance collaboration to address the infrastructure development challenges facing Indo-Pacific region

TOKYO — The head of development finance institutions and agencies of Australia, India, Japan, and USA - Export Finance Australia (EFA), the Australian Infrastructure Financing Facility for the Pacific (AIFFP), India Export-Import Bank (India Exim Bank), Japan Bank for International Cooperation (JBIC), and US International Development Finance Corporation (US DFC) - gathered in-person and virtually on 23 May, 2022 in Tokyo to discuss enhanced collaboration to better connect the Indo-Pacific region, ahead of the Quad Leaders’ Meeting.

The leaders of the finance institutions and agencies exchanged views on essential priority areas of the region including climate change; secure and reliable telecommunication networks; sustainable supply of energy; food and medical security; and global supply chain resilience.

The participants also agreed to work together to overcome the infrastructure development challenges facing Indo-Pacific region. They agreed to make concerted efforts to promote innovation to provide secure and reliable technology, such as telecommunication network projects, including 5G rollout, and green transition technology, including clean hydrogen. On supply chain resilience, participant institutions and agencies will continue discussions to identify supply chain vulnerabilities and explore appropriate measures to diversify sources of critical goods and related supply chains through cooperation with wider stakeholders including the private sector.

The roundtable was hosted by JBIC. “Today’s roundtable of the four development finance institutions and agencies on the sidelines of the Quad Leaders’ Meeting is a symbolic initiative. These finance institutions and agencies are committed to facing the global challenges in this new era,” said the JBIC governor Tadashi Maeda.

###
About Export Finance Australia

Export Finance Australia (EFA) is Australia’s export credit agency. EFA provides commercial finance for Australian exporters and overseas infrastructure development. EFA helps Australian SMEs and larger companies to realise export opportunities, contribute to an export supply chain or grow their international revenue.

About AIFFP

The Australian Infrastructure Financing Facility for the Pacific (AIFFP) invests in key economic infrastructure such as telecommunications, energy, transport and water across the Pacific and Timor-Leste, using a mix of loan finance and ODA grants. Since inception in 2019, the AIFFP has agreed to over $950 million in financing (including $730 million in lending) across ten major capital infrastructure works. The AIFFP utilises back-office support from Export Finance Australia in the administration of loans.

About India Exim Bank

Export-Import Bank of India (India Exim Bank), established in 1982 under an Act of the Indian Parliament, fully owned by the Government of India, is a financial institution engaged in funding, facilitating, and promoting India’s global trade and investment. Since its inception, India Exim Bank has been a catalyst and a key player in the promotion of cross-border trade and investment; and supports Indian companies in enhancing their competitiveness and internationalization efforts. The Bank also extends financial assistance to developing partner countries to create a positive socio-economic development impact in projects across an array of diverse sectors. India Exim Bank has also been regularly innovating its products and services, keeping in view the dynamics of the global trade scenarios, for mutually beneficial engagements with partners across regions. To know more about the Bank, visit: www.eximbankindia.in

About JBIC

The Japan Bank for International Cooperation (JBIC) is a policy-based financial institution, its shares wholly owned by the Government of Japan, which has the purpose of contributing to the sound development of the Japanese and international economy and society by taking responsibility for financial functions to promote overseas development and secure natural resources with strategic importance to Japan, maintaining and improving the international competitiveness of Japanese industries, promoting overseas business having the purpose of preserving the global environment, and also providing the financial services that are necessary to prevent disruptions to the international financial order or to implement appropriate measures with respect to the effects of such disruption.

About DFC

U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. 

India Exim Bank - JBIC conclude US$ 100 mn Loan Agreement to Support the Indian Healthcare Sector related to COVID-19

(Ms. Harsha Bangari,Managing Director,India Exim Bank,concludes USD 100 mn facility with Mr. Makoto Uchida, Managing Executive Officer, Global Head of Infrastructure and Environment Finance Group, Japan Bank for International Cooperation)

Export-Import Bank of India (India Exim Bank)concluded a USD 100 mn loan agreement with Japan Bank for International Cooperation(JBIC), along with three Japanese private financial institutions, namely, MUFG Bank, Ltd., the Bank of Kyoto, Ltd., and the Hachijuni Bank, Ltd., on May 23, 2022, on the side-lines of the Quad Leaders' Summit. The purpose of this facility is to support the Indian healthcare sector related to combating COVID-19, including but not limited to vaccine manufacturers, pharmaceutical companies, manufacturers of personal protective equipment, medical oxygen or other medical devices, hospitals, and other related activities.

As a prelude and to better understand the market requirements of this sector, India Exim Bank along with JBICorganised aRoundtable in collaboration with thePharmaceuticals Export Promotion Council of India (Pharmexcil) in July 2021, with participation fromthe CEOs of some of India’s largest healthcare and pharmaceutical companies. To further spread awareness on the funding structures available for such companies in India, India Exim Bankand JBIC jointly organised another programme in collaboration with Pharmexcilin September 2021.

Through this facility, India Exim Bank and JBIC will jointly work towards expanding safe and effectivemanufacturing of COVID-19 vaccines and related pharmaceutical and healthcare products in India.

India Exim Bank has been supporting the healthcare sector and all the segments in the pharmaceutical value chain. Apart from supporting domestic expansion projects of the companies in these sectors, the Bank has also supported the overseas endeavours of various Indian companies in the healthcare sector (including hospitals and healthcare facilities, pathological labs, and related training/ education services), pharmaceutical companies (including manufacturing of bulk drugs and formulations), and biosimilar/ biopharma (including life sciences) companies, among others. Additionally, India Exim Bank has been supporting research and development, new product development and other related areas.

India Exim Bank, established in 1982, is committed 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 actively supports Indian exporting companies, especially medium-sized enterprises, in their globalisation efforts through a variety of lending programmes.India Exim Bank has also been regularly innovating its products and services, keeping in view the dynamics of the global trade scenarios, for mutually beneficial engagements with partners across regions.

For further information, please contact
Mr. Tarun Sharma
Chief Financial Officer
Export-Import Bank of India
Centre One Building, Floor 21
World Trade Centre Complex Cuffe Parade
Mumbai 400005
Telephone +91-22-22172601
E-mail: tag@eximbankindia.in

India Exim Bank extended Buyer’s Credit facility of USD 164.69 mn to finance project envisaging construction of 400 Kv Transmission Line and Associated Substations in Cameroon

Export-Import Bank of India (India Exim Bank) on May 11, 2022 executed a Buyer’s Credit Agreement with the Government of the Republic of Cameroon for construction of 400kV Transmission Line along with associated sub-stations project in Cameroon, valued at USD 173.36 mn. This funding is proposed to be provided under the Buyer’s Credit program under the National Export Insurance Account (NEIA) Scheme. The project inter alia is expected to improve the socio-economic well-being, with supply of electricity to the population of more than 8 mn in the northern part of Cameroon. The Buyer’s Credit Agreement was signed in Yaoundé, Cameroon. The project is proposed to be executed by Kalpataru Power Transmission Ltd. (KPTL). 

India Exim Bank had earlier also supported another Transmission Line project in Cameroon, under the NEIA scheme. Further, India Exim Bank has supported various projects in water, power, railway and road sectors in various countries viz. Ghana, Zambia, Mauritania, Cote d’Ivoire, Madagascar, Uganda, Tanzania and Senegal in Africa, Maldives and Sri Lanka in Asia and Suriname in Latin America under the NEIA scheme to promote the project exports from India. The NEIA scheme is a unique financing mechanism that provides a safe mode of financing option to the Indian Project Exporters backed by cover from NEIA Trust. 

For more information, please contact:
Shri Rikesh Chand, General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005;
Phone +91-22-2212340; E-mail: rikesh@eximbankindia.in.

India Exim Bank reports threefold increase in profits in FY22; loan assets grow by 13.26%

India Exim Bank’s Managing Director, Ms. Harsha Bangari, and Deputy Managing Director, Mr. N. Ramesh, announced the Bank’s results for the financial year 2021-22 at a press conference in Mumbai on Thursday, May 12, 2022.Key highlights of the Bank’s performance during 2021-22 are as under:

FINANCIAL PERFORMANCE

Parameter

(A – K in ` Crore, L – N in %)

Performance in 2020-21

Performance in 2021-22

Growth over 2020-21

A.        Net Loan Portfolio

1,03,851

1,17,619

13.26%

B.        Non-Fund Portfolio

14,229

15,247

7.15%

C.        Customer Asset Portfolio (A+B)

1,18,080

1,32,866

12.52%

D.       Net Investments

10,017

10,903

8.84%

E.        Total Borrowings

1,09,617

1,07,477

(1.95%)

F.        Total Business (C+D+E)

2,37,714

2,51,246

5.69%

G.       Business per Employee

683

737

7.86%

H.       Operating Profit

      2,823

      3,130

10.87%

I.         Profit Before Tax

        356

      2,150

503.93%

J.         Profit After Tax

254

738

190.55%

K.        Net Non-Performing Assets

533

-

(100%)

L.        Capital to Risk Assets Ratio

25.89%

30.49%

460 bps

M.     Provision Coverage Ratio

96.74%

100%

326 bps

N.     Slippage Ratio

1.52%

0.24%

    (128 bps)

 

BUSINESS PERFORMANCE

Exim Bank sanctioned loans aggregating ` 68,863 crore under various lending programmes during FY 2021-22.

Policy Business: During FY 2021-22, Exim Bank on behalf of the Government of Indiasanctionedsix Lines of Credit, aggregating US$ 1.13 billion, to support export of projects, goods, and services from India. The Bank has a portfolio of 310 GOI-LOCs with credit commitments aggregating US$ 31.96 billion, which are at various stages of implementation. With ever expanding reach, the LOCs have gained momentum in stimulating economic growth across 66 countries in Africa, Asia, Latin America, Oceania and the CIS region.Under the Buyers’ Credit - National Export Insurance Account (BC-NEIA) portfolio till date, Exim Bank has sanctioned an amount of US$ 3.01 billion, for 34 export projects. Government of India’s announced further infusion of ` 1,650 crore to the NEIA Trust will further support project exports worth ` 33,000 crore.

Commercial Business: During FY 2021-22, Exim Bank has supported 75 project export contracts valued at ` 19,380.34 crore under its commercial portfolio, in 39 countries.As on March 31, 2022, Exim Bank provided an aggregate overseas investment finance of ` 63,877.51 crore to 652 Joint Ventures / Wholly Owned Subsidiaries, set up by 483 Indian companies in 78 countries. Under the Bank’s newly launched Ubharte Sitaare Programme, credit facilities aggregating ` 306.32 crore were extended to 15 companies in sectors including aerospace, auto, pharmaceuticals, engineering and consumer durables.

RESOURCES & TREASURY 

During FY 2021-22, Government of India infused ` 750 crore capital into Exim Bank. A further capital infusion of ` 1,500 crorefor FY 2022-23 has been announced by the Government of India in budget 2022.

Exim Bank raised foreign currency resources aggregating US$ 2.05 billion equivalent, through a variety of instruments and rupee resources aggregating ` 19,046 crore, in FY 2021-22. During the year, the Bank issued a 5-year CNH 500 million bond under the GMTN programme. This was the largest CNH issuance out of India with the lowest coupon in the currency. The Bank also issued its first HKD bond, valued at HKD 435 million.

The Bank is rated Baa3 (Stable) by Moody’s, BBB- (Stable) by S&P Global Ratings, BBB- (Negative) by Fitch Ratings and BBB+ (Stable) by Japan Credit Rating Agency. All the above ratings are of investment grade or above, and are the same as the sovereign rating. 

NEW INITIATIVES

Exim Bank has set up an ESG Framework to facilitate issuance of green, social or sustainable bonds / loans. A Second PartyOpinion was sought from Sustainalytics, which confirmed that the Framework is ‘credible and impactful’, and that the Bank is well-positioned to address common environmental and social risks associated with projects.

To further enhance its support to the MSME sector, Exim Bank has initiated Trade Assistance Programme. Under this programme, trade lines will be extended to participating overseas banks/institutions in the emerging markets, and credit enhancement to participating commercial banks in India to cover payment obligations on identified banks.Exim Bank is also in the process of setting up a factoring business, with focus on MSME exporters.

EXPORT FACILITATION

The Department of Commerce, Ministry of Commerce & Industry, Government of India is engaging with Exim Bank to conduct an impact assessment of Free Trade Agreements for the EU and Canada. The Bank has also partnered with the Government of Andhra Pradesh for preparing an export strategy paper for the state.

Exim Bank conducted 19 seminars/workshops for exporters, with themes such as export capability creation, business opportunities, industry, country & region focus, and export potential of Indian states. 

Exim Bank, under its grassroots initiatives, has been supporting and assisting rural artisans, craftsmen and farmers to widen their domestic as well as international presence by organizing design, skill-building and training workshops. Some of these programmes organised during the year were for weavers of Banarasi Silk in Varanasi and Waril artisans of Maharashtra. The Bank has identified 12 products from 11 districts under the Government of India’s One District One Product initiative and is engaging with stakeholders to provide relevant interventions.

SOCIAL INITIATIVES

During FY 2021-22, 12 projects / programmes in seven states and one UT were sanctioned in the areas of education& skill development, environment, healthcare & sanitation, and livelihood activities. Some of the notable projects implemented during the year include upgrading facilities in hospitals in Assam, Jharkhand, Maharashtra and Rajasthan; education infrastructure development in 20 schools in Solapur (Maharashtra); sponsoring underprivileged women weavers in Mizoram for skill development; and construction of all-weather toilets and renovation of training centres in Ladakh for the local weaver community. Exim Bank has identified two villages in Maharashtra for an overall improvementof health and education infrastructure, and livelihood and skill development, under its ‘Dream Village’ initiative.

For more information, please contact: Ms. Deepali Agrawal, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005; Phone +91-22-22172700; E-mail: ccg@eximbankindia.in.

 

 

Strengthening the financing architecture for project exports should be a priority: Shri Piyush Goyal

Strengthening the financing architecture for project exports through innovative financing instruments and relooking regulations such as prudential norms for export credit agencies should be a priority, saidMr. Piyush Goyal, Hon’ble Minister of Commerce and Industry,Consumer Affairs, Food and Public Distribution, and Textiles, Government of India,during a summit organized by the Export-Import Bank of India (Exim Bank) on the theme ‘Enhancing Global Opportunities for Indian Project Exporters’ on 5th May 2022, in New Delhi. The Summit had participation from representatives from Government of India, foreign diplomatic missions in India, multilateral financing institutions, development financing institutions, export credit agencies, credit insurance agencies, and Indian companies, among others. The Summit was attended by more than 150 participants.

Addressing the participants in the Summit, Mr. Goyalhighlightedthe remarkable resilience of Indian exporters despite the pandemic induced disruptions. Mr. Goyal noted that the country is heading towards achievement of the larger objective of US$ 1 trillion of exports in goods and services each, and nascent sectors such as project exports would be critical for this.

Informing the participants about the Government of India’s commitment to enhance market access through free trade agreements (FTAs), Mr. Goyal invited stakeholders to highlight the non-tariff barriers that they face in important project markets, so that these could be effectively addressed in FTA negotiations. Highlighting the substantial opportunities in developed markets for project exports and need for diversification into these markets, Mr. Goyal urged project exporters to identify market access issues in these markets that can be addressed by the Government. 

During the Summit, Mr. Goyal also released an Exim Bank Study titled, “Project Exports from India: Tapping potential amid Changing Dynamics”, and commended India Exim Bank for undertaking research on this niche area. Based on stakeholder consultations and desk research, the Study provides a broad perspective on the current scenario of project exports from India, undertakes a comparative analysis of the strengths and weaknesses of Indian companies, reviews the impact of Covid-19 pandemic, and recommends pertinent strategies for boosting project exports from the country. Mr. Goyal also released anotherExim Bank Study on the subject, titled ‘India’s Engagements in Free Trade Agreements: Looking Ahead’ during the Summit, which assesses India’s major trade agreements and their impact on India’s trade.

During her inaugural address, Ms. Rupa Dutta, Principal Economic Advisor, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India,commended the timeliness of the Summit given the large rounds of infrastructure investments being made by countries all across the world, and the likely opportunities that may emerge for project exporters. 

In her address, Ms.Harsha Bangari, Managing Director, Exim Bank,highlighted some of the challenges for project exports that emanated during the deliberations in the last edition of the Summit in 2019, and the progress made in addressing these challenges. These measures,included inter aliainclusion of provisions for co-financing of projects in IDEAS guidelines, addressing the need for Euro financing, addition of escrow mechanism as an additional security measure, and implementation of an ESG policy to give preference to green and socially sustainable projects.

Summarising the proceedings of the Summit in his Vote of Thanks, Mr. N. Ramesh, Deputy Managing Director, Exim Bank, reiteratedthe key themes emerging from the discussions, including the need for greater collaboration, aligning the priorities of the industry with that of the Government of India, and need for addressing non-tariff barriers to projects exports through FTAs, among others. 

For further information, please contact
Mr. S Prahalathan, Chief General Manager,Research & Analysis GroupExport Import Bank of India, 
Floor 8, Maker Chamber IV, Nariman Point, Mumbai - 400021
Telephone: 91-22-22860333, 
E-mail: prahalathan@eximbankindia.in