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    12-Nov-2021

    Transition towards a Stable Trade Policy Regime is a gamechanger for Agri Exports from India: India Exim Bank Study

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  • Press Releases

    27-Oct-2021

    India Exim Bank rings the bell with AFRINEX for listing of USD 1 billion10-year bond

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  • Press Releases

    18-Oct-2021

    India Exim Bank Explores Opportunities to Strengthen Regional Value Chains between India and ASEAN

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  • Press Releases

    14-Oct-2021

    Exim Bank Extends Line of Credit of Usd 7.29 million to The Government of Cooperative Republic of Guyana

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  • Press Releases

    14-Oct-2021

    India Exim Bank Explores Opportunities to Strengthen India-Japan Relations beyond Trade and Investment, through Closer Collaboration

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  • Press Releases

    14-Oct-2021

    India Exim Bank targetsfinancing of $ 7 bn of project exports

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  • Press Releases

    01-Oct-2021

    Exim Bazaar to boost business prospects of micro and grassroot enterprises

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  • Press Releases

    27-Sep-2021

    India Exim Bank Extends Buyer’s Credit Facilities Under National Export Insurance Account [NEIA] Aggregatingusd 226.95 MN to The Government o Republic of Maldives

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  • Press Releases

    13-Sep-2021

    Work Together to Find Solutions for the Challenges that Engulfs the Financial Sector – Dr. Karad, Minister of State for Finance.

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  • Press Releases

    09-Sep-2021

    India Exim Bank forecasts India’s merchandise exports for Q2 of FY2022 to amount to US$ 98.45 bn, and non-oil exports to amount to US$ 85.63bn

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  • Press Releases

    09-Sep-2021

    India Exim Bank Hosts the BRICS Annual Financial Forum 2021

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    09-Sep-2021

    India Exim Bank Announces the Winner of the BRICS Annual Economic Research Award 2021

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  • Press Releases

    08-Sep-2021

    Ms. Harsha Bangari takes charge as Managing Director of India Exim Bank

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  • Press Releases

    07-Sep-2021

    India Exim Bank engages with Indian Pharma companies to promote exports from the country

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  • Press Releases

    02-Sep-2021

    Exim Bank Extends Line of Credit of USD 40 Million To The Government of Republic of Maldives

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  • Press Releases

    01-Sep-2021

    India Exim Bank extends US$ 100 mn loan to Africa Finance Corporation to spur post-covid recovery

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    27-Aug-2021

    Harnessing UP’s Untapped Potential Could Raise the State’s Merchandise Exports to nearly US$ 30 Billion: India Exim Bank Study

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    21-Aug-2021

    FM launches the Ubharte Sitaare Fund to support India’s Future Export Champions

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    21-Aug-2021

    Untapped Export Potential of US$ 227.4 million in Sports Goods: Exim Bank Study

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  • Press Releases

    13-Jul-2021

    India Exim Bank Study Suggests Setting up US$ 100 million Fund for Building Regional Healthcare Hubs Across Africa

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Transition towards a Stable Trade Policy Regime is a gamechanger for Agri Exports from India: India Exim Bank Study

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Agriculture policies in India have been focusing on raising farm output to achieve self-sufficiency, reduce import dependency and ensure food security. Driven by these primary objectives, there has been a tendency to utilize trade policy as an instrument to attain short term goals of price stabilization in India. According to a recent Study by India Exim Bank, recently there has been a shift in the Government of India’s stance from the one characterized by intermittent restrictions to the one committed towards maintaining a stable trade policy regime to help India emerge as a reliable supplier.

India Exim Bank’s study titled “Promoting Agriculture Exports from India” was released during a webinar titled “Agriculture Exports from India: Prospects and Opportunities” on November 12, 2021, hosted by India Exim Bank as part of the Azadi ka Amrit Mahotsav initiative to commemorate 75 years of Independence. The webinar had speakers from India Exim Bank, Ministry of Commerce and Industry, Government of India, Agricultural and Processed Food Products Export Development Authority (APEDA), experts from academia and representatives from agri-businesses. The webinar was attended by more than 150 participants.

India Exim Bank’s study notes that India was the 14th largest exporter of agriculture and allied products in the world in 2019, with exports valued at US$ 34.8 billion. Exportable surplus from the agriculture sector in India has increased gradually, leading to a positive and increasing trade balance in agricultural trade. However, despite having a large area under cultivation and being the largest producer country in many agricultural commodities, India’s share in global exports of several agricultural commodities is low. For example, while India ranks 2nd in the global wheat production, it ranks 34th in global exports of wheat. India also ranks 2nd in the global vegetables production but ranks 14th in exports of these products. Similarly, in Fruits, India ranks 3rd in global production, but 22nd in the global exports. Geographically smaller countries like Belgium, Italy and the Netherlands have much higher agricultural exports than India.

India Exim Bank study benchmarks the agricultural policies in India with those in other developed and developing market, identifies the best practices and makes recommendations for strengthening the landscape for agricultural exports from the country. The strategies, inter alia include quality upgradation as per the export market requirements, revamping of cold storage and reefer infrastructure through adoption of high-end technologies, ensuring WTO compatibility of schemes, adoption of PPP model in the agriculture sector, building brand India, strengthening institutional farm credit delivery, convergence of different Government Schemes, among others. The Study also underscored the need for a unified body to deal with market access issues for trade in agricultural products. 

In her address during the webinar, Ms. Harsha Bangari, Managing Director, India Exim Bank highlighted the support of India Exim Bank to the technopreneurs in the agriculture sector, and underscored the importance of technological interventions in propelling exports from the sector. Mr. N. Ramesh, Deputy Managing Director, India Exim Bank highlighted how India’s agricultural sector is shedding its image of a low growth sector to emerge as the silver lining for the economy. During the panel discussion moderated by Mr. N. Ramesh, panellists deliberated upon the issues faced by agricultural exports, and the strategies for enhancing India’s agricultural trade for achieving the agricultural export target of US$ 100 billion. During the plenary session, Dr. C. Vanlalramsanga, Economic Adviser, Department of Commerce, Ministry of Commerce and Industry highlighted the robust growth of agricultural exports from India during the recent period, and the initiatives taken by Government of India to help the sector.  Dr. Devesh Roy, Senior Research Fellow, International Food Policy Research Institute discussed the significant untapped potential in exports from the sector, highlighted the agricultural policies in other countries, and recommended strategies for enhancing India’s exports from the sector. Dr. Tarun Bajaj, Director, APEDA informed participants about the role of APEDA in ensuring that agricultural exports remained resilient even during the pandemic and encouraged more agri businesses to tap the international market. The webinar also had speakers from agri business who highlighted some of the key aspects for improving competitiveness of agricultural products in the international market, including the need for strengthening agri value chain integration and building brand value.

For further details please contact: Mr. S Prahalathan, 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 0333; E-mail: prahalathan@eximbankindia.in 

India Exim Bank rings the bell with AFRINEX for listing of USD 1 billion10-year bond

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India Exim Bank listed its USD 1 billion 10-year bond on AFRINEX at a virtual listing, during the Launching Ceremony of AFRINEXon October 25, 2021.Hon’ble Mr. Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius, Her Excellency Mrs. K. Nandini Singla, High Commissioner of India to Mauritius, and Ms. Harsha Bangari, Managing Director, Export-Import Bank of India,rang the digital bell on AFRINEX, thus, celebratingthe launch of AFRINEX with its inaugural listing of India Exim Bank’s USD 1 billion 10-year Bond.

[Photo Caption:Hon’ble Mr. Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius; Her Excellency Mrs. K. Nandini Singla, High Commissioner of India to Mauritius; and Ms. Harsha Bangari, Managing Director, Export-Import Bank of India (on screen)]

India Exim Bank’s USD 1 billion 10-year Bond, issued in January 2021, was the fourth transaction of the Bank in the 144A/Reg S format. The transaction at a coupon of 2.25% p.a. marked a record low for any Indian issuer for a 10-year USD issuance. This issue was 3.5 times oversubscribed by several high-quality investors. The Bank, which has a substantially dollarized balance sheet, 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 have been used by the Bank to support Indian project exports, overseas investments by way of long-term credit and its export lines of credit portfolio. This listing is India Exim Bank’s maiden foreign currency bond bell ringing on AFRINEX. India Exim Bank’s bonds are also listed on Singapore Exchange Securities Trading Limited (SGX-ST), London Stock Exchange’s International Securities Market (LSE-ISM), and India International Exchange (IFSC) Limited (India INX).

Congratulating AFRINEX the Hon’ble Prime Minister mentioned, “It is with a deep sense of satisfaction and pride that I join you all this morning for the launch of AFRINEX. We are having another Securities Exchange after almost 30 years, this testifies that our capital market is expanding and deepening while assuming a larger role in the development and integration of the regional capital market. AFRINEX will certainly contribute to further establish Mauritius among the newly developed emerging capital markets of the region.”

Commenting on the successful launch and the listing, Her Excellency Mrs. K. Nandini Singla, High Commissioner of India to Mauritius, said “As a Pan-African Exchange based out of Mauritius, AFRINEX can be a game changer not only for Mauritius but also Africa and beyond. An International Financial Centre of tomorrow will no longer be about physical infrastructure, but more about offering a transaction platform that seamlessly capture global financial transactions in investment and trade. The launch of AFRINEX opens the door to the possibility of deeper financial and economic engagement between Mauritius and India.”

Speaking on the occasion, Ms. Krishna Gangopadhyay, CEO & MD AFRINEX mentioned “We welcome Exim Bank of India as our first issuer on Securities Official List.  It offers testimony to the flexibility and agility of our listing platform Securities Official List, and also comfort that sovereign issuers draw from the transparency and robustness of our rules.”

Ms. Harsha Bangari, Managing Director, India Exim Bank, said “Today is a momentous occasion marking the launch of AFRINEX. It is also a proud moment for us at India Exim Bank to list our USD 1 billion Exim 2031 bond as the inaugural listing on AFRINEX. The AFRINEX will serve as a gateway for broadening the investor base of issuers in the African continent, along with that of the world”

AFRINEX is an initiative by the Government of Mauritius to set up a pan-Africa Exchange and become an International Financial Centre. The initiative is supported by the Government of India, and BSE Technologies Ltd. is the technology and skill partner of the exchange. The objective of AFRINEX is to offer a primary market platform and efficient price discovery at an optimal cost.

India Exim Bank, set up in 1982, 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 actively supports Indian exporting companies, especially medium-sized enterprises, in their globalisation efforts through a variety of lending programmes.

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 +91-22-22172686
E-mail: tag@eximbankindia.in

India Exim Bank Explores Opportunities to Strengthen Regional Value Chains between India and ASEAN

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Release of India Exim Bank’s publication titled “Building Value Chain: Opportunities for India and ASEAN” by Ms. Riva Ganguly Das, Secretary (East), Ministry of External Affairs, Government of India  in the presence of Ms. Harsha Bangari, Managing Director, India Exim Bank; Dato' Ramesh Kodammal, Co-Chair, ASEAN India Business Council (AIBC) and Prof. Sachin Chaturvedi, Director General, Research and Information System for Developing Countries (RIS) during a webinar titled “Deepening India-ASEAN Relations: Exploring New Avenues for Engagements” held on October 18, 2021.

As a run up to the 18th ASEAN-India Summit 2021, India Exim Bank organized a webinar on “Deepening India-ASEAN Relations: Exploring New Avenues for Engagements”, jointly with the ASEAN-India Centre (AIC) at RIS, and the ASEAN India Business Council (AIBC) on October 18, 2021. The Chief Guest of the event, Ms. Riva Ganguly Das, Secretary (East), Ministry of External Affairs, Government of India, reiterated the need to augment a diversified and resilient supply chain between India and ASEAN. Ms. Das also pointed out the critical role of digital infrastructure, cooperation in health and pharma sector, sustainable development, and enhanced connectivity, in addition to boosting trade and investment to strengthen India-ASEAN relations.

During the Webinar, Ms. Riva Ganguly Das also released India Exim Bank’s publication titled “Building Value Chain: Opportunities for India and ASEAN”, in the presence of Ms. Harsha Bangari, Managing Director, India Exim Bank; Dato' Ramesh Kodammal, Co-Chair, ASEAN India Business Council (AIBC) and Prof. Sachin Chaturvedi, Director General, Research and Information System for Developing Countries (RIS).

The Study notes that ASEAN remains at the focal point of India’s Act East policy, as well as the central focus of India’s vision of the Indo-Pacific. The study observes that the combined GDP of ASEAN and India is expected to reach over US$ 8 trillion by 2025. According to the Study, though ASEAN-India Trade in Goods Agreement (AITIGA) has resulted in almost doubling of India’s trade with ASEAN economies over the last decade, imports have risen at a much higher pace than exports in the case of India. The widening trade deficit is a matter of concern for long-term sustainability of bilateral trade relations. India is also facing significant non-tariff barriers in ASEAN countries, limiting its exports to the region and suggests urgent review of AITIGA, and deliberation on other major issues. The study has also made a comparative analysis of the trends in global value chains in ASEAN, India and China and recommends key sectors in which India has a latent advantage in developing regional value chains with ASEAN.

Mr. Harsha Bangari, Managing Director, India Exim Bank in her address highlighted that historically India and ASEAN have been enjoying a strong and cordial relationship. She emphasized need for an urgent call for action to strengthen India-ASEAN engagements, with these economies being on their way back to normalcy.

During the ensuing panel discussion chaired by Dr. Prabir De, Professor and Coordinator, ASEAN-India Centre (AIC), RIS, panelists deliberated upon various issues impacting India-ASEAN engagements and the prospects for taking this relation to a newer height. Speakers during the panel discussion include experts in the areas of trade, investment, and value Chain – Dr.  Rajan Ratna, Deputy Head and Senior Economic Affairs Officer, UNESCAP, New Delhi; infrastructure and connectivity - Prof. Ruth Banomyong, Dean, Thammasat Business School; health, vaccine and cooperation - Secretary Carlito G. Galves, Jr., Office of the Presidential Adviser on the Peace Process, Chief Implementer and Vaccine Czar, National Task Force Against COVID-19, Government of the Philippines; and Digital Infrastructure - Mr. Mohamed Irshad, Head of Corporate Affairs for ASEAN, Tata Consultancy Services Asia Pacific.

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: 91-22-2286 0363, E-mail: dsinate@eximbankindia.in

Exim Bank Extends Line of Credit of Usd 7.29 million to The Government of Cooperative Republic of Guyana

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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 7.29 million to the Government of the Cooperative Republic of Guyana for the purpose of procuring and installing Solar Home Lighting Systems for 30,000 homes in the Hinterland Communities.

The LOC Agreement to this effect was signed through exchange between Mr. Nirmit Ved, General Manager, Exim Bank and H.E. Dr. Ashni Singh, Senior Minister in the Office of the President with responsibility for Finance, Government of the Cooperative Republic of Guyana. 

With the signing of the above LOC Agreement, Exim Bank, till date, has extended 9 (Nine) Lines of Credit to the Government of the Cooperative Republic of Guyana, on behalf of the Government of India, taking the total value of LOCs to USD 117.17million. Projects covered under the LOCs extended to the Government of Cooperative Republic of Guyana include the construction of a Cricket stadium, supply and installation of traffic signalling systems, fixed and movable irrigation pumps, hospital, road linkage project, supply of a passenger-cargo ferry vessel, supply of high-capacity drainage pumps and upgradation of primary health care centres.  

With the signing of this LOC Agreement, Exim Bank has now in place 277 Lines of Credit, covering 62 countries in Africa, Asia, Latin America Oceaniaand the CIS, with credit commitments of around USD 27.03 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 Explores Opportunities to Strengthen India-Japan Relations beyond Trade and Investment, through Closer Collaboration

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India Exim Bank’s study titled “Prospects for Enhancing India Japan Trade Relations” was released at the hands of Shri. Dammu Ravi, Secretary [Economic Relations], Ministry of External Affairs, Government of India; in the virtual presence of - H.E. Mr. Sanjay Kumar Verma, Ambassador of India to Japan, Mr. Shingo Miyamoto, Minister (Economic & Development), Embassy of Japan in India, Ms. Harsha Bangari, Managing Director,India Exim Bank and Mr. N. Ramesh, Deputy Managing Director, India Exim Bank during a webinar titled “India-Japan Economic Partnership: Trade and Beyond” on October 08, 2021, hosted by India Exim Bank.

The study notes that over the past decade, India’s total trade with Japan has increased from US$ 10 billion to almost $ 18 billion, with exports valued at US$ 5 billion and imports US$ 13 billion in 2019.  However, despite having a Comprehensive Economic Partnership Agreement (CEPA) with Japan, India has been running a persistent trade deficit with Japan, which has more than doubled during the decade, to almost US$ 8 billion in 2019.  The Study, through the trade complementarity analysis, recommends suitable product categories in which India has a latent advantage in exports. The study suggests that there is significant potential for India’s exports in categories such as mineral fuels and oils, electrical machinery and equipment, machinery and mechanical appliances, optical, photographic equipment, pharmaceutical products, articles of apparel and clothing, etc.

The study also highlights that India’s exports face both tariff and non-tariff barriers in Japan and suggests that in the subsequent CEPA review negotiations India could deliberate upon these issues.

Further, the study observes that the potential for India-Japan relations extend beyond the sphere of bilateral trade. India and Japan have aimed at coordinating India’s "Act East" policy and Japan’s vision of a free and open Indo-Pacific. This policy coordination had given birth to the idea of Asia-Africa Growth Corridor (AAGC), which is a megaregional program aimed at improving ties between Asia and Africa.

Mr. Harsha Bangari, Managing Director, India Exim Bank in her address highlighted that India and Japan have been enjoying a strong and cordial relationship.  Japan has been one of the most important economic partners for India in its development story.  The panelists deliberated upon the issues and, current and future prospects for enhancing India’s engagements in and bilateral trade with Japan, in diversified areas such as- collaboration and financing joint projects, India-Japan CEPA, Asia- Africa Growth Corridor, 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: 91-22-22860363, E-mail: dsinate@eximbankindia.in

India Exim Bank targetsfinancing of $ 7 bn of project exports

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With the recent announcement of the corpus infusion of ` 1,650 crore by the Government of India in the National Export Insurance Account (NEIA) to boost project exports, Export-Import Bank of India (India Exim Bank) targets to achieve financing of US$ 7 billion of project exports over the next five years. The NEIA Trust, set up by the Ministry of Commerce and Industry, GoI, in March 2006, provides export credit insurance cover for promoting medium and long-term project exports from India. The corpus infusion will enhance the project export possibility having cover by NEIA by about ` 33,000 crore over next five years (equivalent to US$4.5 billion). The Capital infusion will help tap huge potential of project exports in focus markets. The Bank has currently supported 31 projects valued at US$ 2.74 billion in 14 countries under the Buyer’s Credit under NEIA programme.

India Exim Bank recently organised an interactive session on ’Enhancing Global Opportunities for the Project Exporters’in Mumbai to discuss the opportunities and challenges with the Indian project exportersfor harnessing the benefits of the corpus infusion by the GoI.The event, attended by 45 leading Indian project export companies, provided a platform for experience sharing and discussion of untapped sectors and markets.

Addressing at the gathering, Ms. Harsha Bangari, Managing Director, India Exim Bank commented, “Exim Bank has been at the forefront of financing and facilitating project exports from India and with the corpus infusion in the NEIA trust, we are better geared for enhancing India’s project exports.” She further added,“the opportunity for Indian exporters remains significant given the fact that the project exporters have already developed substantial competitiveness in several sectors and the financing options provided by India Exim Bank are well recognised.”

The participants lauded the support and financing solution provided by India Exim Bank. The Bank provided the prospects of different export capability creation programmes and possible financing options by India Exim Bank to support the GOI’s targetof US$400 billion exports in FY 2021-22. 

The event also hada session by Project Exports Promotion Council and an experience sharing session by a few esteemed Indian Project Exporters thatprovided an insight on their activities, prospects and challenges while securing and executing the project export contracts overseas.  

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.

For further information, contact:

Ms. Shilpa Waghmare, General Manager, BC-NEIA Group
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005.
Ph: +91-22-22172320; E-mail: shilpa.w@eximbankindia.in

 

Exim Bazaar to boost business prospects of micro and grassroot enterprises

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The four-day exhibition will host 75 artisans across 20 states of India

Ahmedabad, October 1, 2021: Renowned humanitarian and Padma Shri awardee, Smt. Reema Nanavaty along with the Managing Director of India Exim Bank, Ms. Harsha Bangari inaugurated the seventh edition of ‘Exim Bazaar’ at Ahmedabad Haat, Vastrapur in Ahmedabad today. The Bazaar, organized by India Exim Bank will showcase traditional and contemporary art and craft products from across the country from Friday to Monday, October 01 to 04, 2021.

The exhibition assumes significance as it aims to support local, home-grown artisans from various states. Complimenting the role Exim Bazaar plays to strengthen women artisans, Ms. Nanavaty 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 and domestic stress in the lockdown. Opportunities like the 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 country to mark the 75 years of India’s independence, Azadi Ka Amrit Mahotsav. It is inspiring for us to see such a positive response for the artisans from Ahmedabad. It also reflects the interest which the people in the state have towards the local arts of the country. 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.”

Over 10 artisans from Gujarat itself are showcasing their work in the exhibition. Artisans from other states of the country including Andhra Pradesh, Uttar Pradesh, West Bengal, Rajasthan, Maharashtra, Delhi, Karnataka, Kashmir, Tamil Nadu, and Madhya Pradesh are present in the exhibition. Some of the participating artisans and weavers who are exhibiting their diverse range of skills, talents and techniques are national and state awardees.

Art forms such as Madhubani paintings, leather puppetry, Warli paintings, Pichwai paintings, Phulkari embroidery, Pattachitra paintings, Phad paintings, Banarasi silk fabrics, lac bangles, Kawad paintings, Kalamkari paintings, Chanderi weaving, ceramic pottery, bidri art among others are on display and available for sale at this exhibition.

Speaking at the inauguration, Mr. Dharmendra Sachan, General Manager, India Exim Bank said, “India Exim Bank assists artisans, master craftsmen, weavers, clusters, self-help groups, NGOs, grassroots and micro enterprises through capacity building, participation at trade fairs and exhibitions both in India and overseas and sourcing overseas buyers and 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 and promotion of entrepreneurship among individual artisans, and ensuring the survival of century old traditional handicraft and handloom products and sustenance of the traditional heritage of Indian crafts”.

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

Ph: +91-22-22861300; E-mail: grid@eximbankindia.in

India Exim Bank Extends Buyer’s Credit Facilities Under National Export Insurance Account [NEIA] Aggregatingusd 226.95 MN to The Government o Republic of Maldives

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Export-Import Bank of India [India Exim Bank] has extended two Buyer’s Credit [BC] facilities under National Export Insurance Account [NEIA] aggregating USD 226.95 mn to Fahi Dhiriulhun Corporation Ltd. (FDCL),Government of Republic of Maldives (GoM) for construction of 4000 Social Housing Units in Hulhumale, Maldives by NBCC (India) Ltd. (NBCC) and JMC Projects (India) Ltd. (JMC).Ms. Salfiyya Anwar, Managing Director, FDCL, Maldives signed Buyer’s Credit Agreements under NEIA through Virtual Signing Ceremony on September 23, 2021in the presence of Ms. Shilpa Waghmare, General Manager, India Exim Bank,Shri Sunjay Sudhir, Indian High Commissioner to Maldives, H.E. Mr. Ibrahim Ameer, Minister of Finance, GoM, H.E. Mr. Fayyaz Ismail, Minister of Economic Development, GoM, H.E. Mr. Akram, Minister of State, Ministry of National Planning, Housing and Infrastructure, GoM. These projects are expected to improve the socio-economic well-being of Maldivian citizens and is in line with the Government of India policy of ‘Neighborhood First’.

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

For further information, please contact Ms. Shilpa Waghmare, General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. 

Telephone: 022-22172320 / 022-22172725
E-mail: shilpa.w@eximbankindia.in /bcneia@eximbankindia.in
Website: www.eximbankindia.in

Work Together to Find Solutions for the Challenges that Engulfs the Financial Sector – Dr. Karad, Minister of State for Finance.

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Dr. Bhagwat KishanraoKarad, Hon’ble Minister of State for Finance, Government of India, while inaugurating the BRICS Financial Forum organized by Export-Import Bank of India (India Exim Bank) advised the participating development banks from BRICS nations to come together and work towards finding solutions to the challenges which engulfs the financial sector. Dr. Karad added that the cumulative experience of all the 5 institutions under the BRICS Interbank Cooperation Mechanism could be around 200 years - and this calls for utilising their age-old experience to find solutions to address the challenges - from climate change to facilitating trade and investments in a manner which promotes harmony and mutual growth, for the larger good of nations”.

Speaking on the theme of “Promoting Economic Growth and Prosperity through BRICS Financial Cooperation”Dr. Karadstated that the developmental narrative for each nation is different which shape their policy priorities and define the future course, but there remain intertwined challenges which cannot be delinked, and it is in this context that the theme for the BRICS Financial Forum is highly relevant especially amidst the ongoing pandemic globally.

“BRICS must use this chance to take a roadmap, leading to development-centredglobalisation. This will allow more inclusive socio-economic progress,” Karad said speaking at the annual BRICS Financial Forum.

While delivering the Special Address, the President of New Development Bank (NDB), Mr. Marcos Troyjo stated that there are plenty of opportunities for financial cooperation among BRICS development banks, and with the NDB. Mr. Troyjo added that NDB has approved financing for around 80 infrastructure and sustainable development projects in BRICS nations, totaling portfolio of about US$ 30 billion; Of which over US$ 9 billion of this financing has gone towards fighting the effects of Covid-19 across member countries. Mr. Troyjofurther added that the Board of Governors of NDB have approved the admission of United Arab Emirates, Uruguay and Bangladesh, as the first new member countries to join the NDB, in line with the strategy to be positioned as a premier institution for emerging economies.

Welcoming the delegates, Ms. Harsha Bangari, Managing Director, India Exim Bank highlighted the need for the BRICS economies to collaborate, especially amidstthe pandemic, to share and learn from the best practices and measures that respective national governments of BRICS countries, and member institutions of the ICM, are taking to re-boost and re-energize our economies out of this crisis.  “As member development banks of the BRICS nations, we must continue to collaborate, through emphasis on innovation and sharing of our expertise. While ideas are the first step towards transformation, collaboration among parties is imperative for effective action to take place” – Ms. Bangari said.

During India’s Chair of BRICS Forum, India Exim Bank brought out a compendium of research papers, titled “Enhancing BRICS Cooperation: Way Forward”, covering the potential for BRICS cooperation in the fields of trade, investment, and finance. 

The Bank also announced and presented India Exim Bank’s BRICS Economic Research Annual Award 2021. Dr. Rahul Singh, who was declared as the winner of the Award for his doctoral thesis titled “Essays in International Trade in Post Liberalization India”, was felicitated in the function. 

This event was attended by hundreds of participants from across the globe, including member countries of BRICS.

Mr. S Prahalathan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21; World Trade Centre Complex; Cuffe Parade, Mumbai- 400005, Telephone: 91-22-22172704, Email:prahalathan@eximbankindia.in

India Exim Bank forecasts India’s merchandise exports for Q2 of FY2022 to amount to US$ 98.45 bn, and non-oil exports to amount to US$ 85.63bn

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Export-Import Bank of India (India Exim Bank) forecasts India’s total merchandise exports to amount to US$ 98.45 bn, growing at 33%, and non-oil exports to amount to US$ 85.63 bn, growing at 28.3%, during the second quarter of FY 2021-22, as compared to US$ 74.02bn and US$ 66.73 bn, respectively, for the corresponding quarter of the previous financial year.  The rise in India’s exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand. Increase in commodity prices have also contributed to the increase in India’s exports. 

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 forecasts are based on India Exim Bank’s Export Leading Index (ELI) Model, which has shown an upward movement during the same quarter. The next growth forecast for India’s exports for the 3rdquarter i.e.October-December 2021 would be released during the first week of December 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 hasdeveloped 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: +91-22-2286 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, uncertainties in the global economy mainly driven by the global pandemic.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.

India Exim Bank Hosts the BRICS Annual Financial Forum 2021

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September 08, 2021: The theme for the BRICS Summit 2021, under India’s Chairmanship is “BRICS@15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus”.  Being the member development bank under the BRICS Interbank Cooperation Mechanism, Export-Import Bank of India (India Exim Bank) hosted the BRICS Annual Financial Forum on September 08, 2021, on a virtual platform. In line with the theme set by the Government of India, the theme for the BRICS Annual Financial Forum was “Promoting Economic Growth and Prosperity through BRICS Financial Cooperation”.

The Forum saw the participation of high-level delegations led by the heads of the development banks from the BRICS nations viz. the Brazilian Development Bank (BNDES), Brazil; the State Development Corporation (VEB.RF), Russia; the China Development Bank (CDB), China, the Development Bank of Southern Africa (DBSA), South Africa, besides the India Exim Bank. 

The event was also attended by the President of the New Development Bank, besides senior officials from the Government, academia, banks and financial institutions, research bodies and think tanks from India and abroad. The Hon’ble Minister of State for Finance, Government of India, Dr. Bhagwat Kishanrao Karad graced the occasion and delivered the inaugural address.

Speaking at the occasion the Hon’ble Minister of State for Finance, Dr. Bhagwat Kishanrao Karadnoted the contribution of BRICS nations in imparting a fresh resonance to the South-South cooperation in a wide range of areas which provides an expressive testimony of its commitment in the process.He reiterated that the future of the BRICS Interbank Cooperation Mechanism hinges upon the 5 member financial institutions which further needs to elevate their partnership to a level which facilitates sustainable investments across the world.

During the event, Ms. Harsha Bangari, Managing Director, India Exim Bank highlighted the role played by the BRICS nations in alleviating infrastructure bottlenecks in many developing countries. She opined that member DFIs need to extend technical assistance,by sharing expertise and experiences, among the BRICS economies and more importantly with other partner developing countries.She urgedthe member development banks of the BRICS nations to collaborate through emphasis on innovation, to ensure inclusive growth and shared prosperity.

The heads of the member development banks and NDB while sharing their insights highlighted the need for closer collaboration among the member development banks of BRICS and NDB. They emphasized the need for increased financial cooperation which will form the basis for the long-term effective mechanism of economic development of BRICS nations and other partner developing countries. 

The winner of the India Exim Bank BRICS Economic Research Annual Award 2021 was also announced and felicitated during the event. 

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

India Exim Bank Announces the Winner of the BRICS Annual Economic Research Award 2021

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Presentation of India Exim Bank’s BRICS Economic Research Annual Award 2021 by Ms. Harsha Bangari, Managing Director, Export-Import Bank of India (India Exim Bank), to the Award winner, Dr. Rahul Singhin the presence of Mr. N. Ramesh, Deputy Managing Director, India Exim Bank,during the Annual BRICS Financial Forum hosted online by India Exim Bank, on September08, 2021.

September 08, 2021: Dr.Rahul Singhwas declared the winner of Export-Import Bank of India’s (India Exim Bank’s) BRICS Economic Research Annual Award 2021 for his doctoral thesis titled “Essays in International Trade in Post Liberalization India”, during the Annual BRICS Financial Forum 2021, hosted online by theIndia Exim Bank,on September08, 2021. The Award comprises prize money of Indian Rupees 1.5 million (approximately USD 21,000), a medal and a citation. The Award was presented to the winner byMs. Harsha Bangari, Managing Director, India Exim Bank, in the presence of Mr. N. Ramesh, Deputy Managing Director, India Exim Bank, andin the virtual presence ofDr. Bhagwat KishanraoKarad, the Hon’ble Minister of State for Finance, Government of India, and the heads of the member development banks from BRICS viz. The Brazilian Development Bank (BNDES); The State Development Corporation (VEB.RF),China Development Bank (CDB); the Development Bank of Southern Africa (DBSA) and the New Development Bank.IndiaExim Bank’s occasional paper based on Dr.Singh'sAward-winning thesis was also released on the occasion at the hands of the Dr.Karad.

The Winning Thesis

Dr.Rahul Singhreceived hisdoctoral degree in 2020 from the Indian Institute of Management, Bangalore. He is currently working as anAssistant Professor at the Amrut Mody School of Management, Ahmedabad University.

The BRICS Economic Research Annual 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.

he BRICS Economic Research Annual Award represents India Exim Bank’s on-going efforts at promoting research in international economics, trade &development and related financing.The Award acceptsas 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.A large number of applications were received for the BRICS Award 2021, covering all the 5 nationalities.

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- 22860363; Fax: 022- 2218 0743; E-mail: dsinate@eximbankindia.in

Ms. Harsha Bangari takes charge as Managing Director of India Exim Bank

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September 8, 2021: Ms. Harsha Bangari has taken over as the Managing Director of Export-Import Bank of India (India Exim Bank) today. Prior to this, Ms. Bangari was the Deputy Managing Director of the Bank. 

A seasoned finance professional with experience of more than 26 years in the financial sector, Ms. Bangari has thorough knowledge of the Bank’s processes and business policies across functions, covering cross-border project financing, risk management, client servicing and liability-side management, including treasury functions and foreign currency resources. Her areas of interest include international debt capital markets and international project finance.

Ms. Bangari joined India Exim Bank in 1995. Before her elevation as the Deputy Managing Director a year back, she was a Chief General Manager and the Chief Financial Officer of the Bank.

Ms. Bangari holds a bachelor’s degree in commerce and is a Chartered Accountant.

For more information, contact:Uday Shinde, General Manager, Corporate Communications, Centre One Building, Floor 21, World Trade Centre Complex,Cuffe Parade, Mumbai 400 005; Ph: +91 022-2217 2810; E-mail: uday@eximbankindia.in

India Exim Bank engages with Indian Pharma companies to promote exports from the country

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Export-Import Bank of India (India Exim Bank), along with Japan Bank for International Cooperation (JBIC) and Pharmaceutical Export Promotion Council of India (Pharmexcil) organised a webinar on September 01, 2021 on ‘Innovative Funding Structures and Assistance for Manufacturers of COVID-19 related Pharma Products’. 

The webinarpart of the series of market interactions by India Exim Bank to address the requirements of Pharma companies working in the COVID ecosystem. In its first edition, India Exim Bank, JBIC and Pharmexcil had come together and organised a roundtable withIndian COVID vaccine manufacturers (existing and potential) to discuss about their financing needs and the financing options available to them. The discussions have generated considerable interest amongst the vaccine manufacturers, in pursuing the capacity creation/expansion and possible opportunities in other markets as well.The webinar was well attended by nearly 100 participants from the pharma industry.

The webinar dwelled upon several possible financing options by India Exim Bank and JBICfor pharma companies which have critical role in combating COVID-19. India Exim Bank offers a wide range of financing products for pharma companies, including trade finance for the importers(both directly as well as through overseas banks or FIs)and exporters, term loans for research and development, investment in new capacity as well as additional capacity, and support to vendors of pharma companies, through the Bank’s recently launched Ubharte Sitaare Programme. India Exim Bank, along with JBIC, will offer competitive financing options to pharma companies working in the COVID ecosystem.

The association with JBIC comes in the backdrop of QUAD members, (comprising the USA, Australia, Japan and India),launching a landmark partnership to further accelerate the end of the COVID-19 pandemic. Together, QUADleaders are taking shared action necessaryto expand safe and effective COVID-19 vaccine manufacturing.

Media Enquiries 
Mr. Uday Shinde,
General Manager,
Corporate Communications Group,
Phone: +91-22-22172829
Mob: +91- 91672-29352
E-mail: uday@eximbankindia.in

Exim Bank Extends Line of Credit of USD 40 Million To The Government of Republic of Maldives

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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 40 millionto the Government of the Republic of Maldives for the purpose of financing for development of sports infrastructure.The LOC Agreement to this effect was signed in Male’, Maldives on Thursday, September 2, 2021by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank.

With the signing of the above LOC Agreement, Exim Bank, till date, has extended 5 (Five) 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 1.33 billion. Projects covered under the LOCs extended to the Government of Republic of Maldives include Housing project, Greater Male’ Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket StadiumProject, Defence projects,Gulhifalhu Port Project, Hanimaadhoo Airport Project, Road Construction Project and Sports Infrastructure.

With the signing of this LOC Agreement, Exim Bank has now in place 276Lines of Credit, covering 62 countries in Africa, Asia, Latin America Oceaniaand the CIS, with credit commitments of around USD 27.02 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 Singh Bhandari, Chief General Manager, Export-Import Bank of India, Office Block, Tower 1, 7th Floor, Adjacent Ring Road, East Kidwai Nagar, New Delhi-110023. Telephone: +91 11 24607700/, E-mail: eximloc@eximbankindia.in, Website: www.eximbankindia.in

H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of Maldives and Mr. Nirmit Ved, General Manager, Exim Bank signing the Lines of Credit Agreement of USD 40 millionfor development of sports infrastructure in Maldives.

India Exim Bank extends US$ 100 mn loan to Africa Finance Corporation to spur post-covid recovery

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Lagos, 31August 2021 –AfricaFinance Corporation (AFC), the leading infrastructure solutions provider on the continent,has receiveda US$100 million credit line from the Export-Import Bank of India (India Exim Bank)to developcritical infrastructure required for the revival of Africa’s economiesin the wake of the Covid-19 pandemic.

Proceeds from the 10-year loan will support AFC’s continued mission to bridge Africa’s infrastructure gap and drive the sustainable economic growth urgently required on the continent. India Exim Bank, the sovereign export credit agency of India, has actively sought opportunities to co-finance projects in Africa through credit lines to support infrastructure development.Africa Finance Corporation draws capital from a diverse range of international investors and lenders as part of its strategy to maintain Africa’s second highest investment grade credit ratings.

“As part of our mandate, India Exim Bank continues to foster a network of alliances and institutional linkages with multilateral agencieslike Africa Finance Corporation,who have a strong credit profile and are at the forefront of changing the development landscape in Africa,” said Harsha Bangari, Deputy Managing Director ofIndia Exim Bank. “We look forward to broadening the relationship between our institutions for the economic benefit of Africa.”

India Exim Bank provides credit lines to national governments, regional financial institutions, commercial banks and other overseas entities as part of its strategyto develop global partnerships.

AFC’s President and CEO Samaila Zubairu said: “The Covid-19 pandemic has set back Africa’s growth trajectory and compounded its development challenges. We at AFC, continue to execute our mandate to address Africa’s infrastructure needs,working withleading development partners such as India Exim Bank. These strategic partnerships help mobilise the urgently needed capitalto rebuild Africa post-pandemic,with more resilient and sustainable infrastructure across key sectors including renewable energy, transportation and telecommunications.”

Africa Finance Corporationrecently received a boost to its credit ratings outlook from Moody’s Investors Service, which assigned its A3 rating a “stable” outlook. The Corporation’s unique access to global capital markets drives development, integrates Africa’s economies, and transforms lives on the continent.

About AFC

AFC was established in 2007 to catalyse private sector-led infrastructure investment across Africa. It is the second highest investment grade rated multilateral financial institution in Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. The Corporation has invested over US$8.7 billion in projects in 35 countries across Africa since inception.

www.africafc.org

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.

www.eximbankindia.in

Media enquiries 


India Exim Bank
Tarun Sharma
Chief General Manager
Tel: +91-22-22172600
E-mail:
tarun@eximbankindia.in 

Mr. Subhasis Dhal
Chief Executive (London Branch)
Tel: +44 20 77969040
E-mail:
eximlondon@eximbankindia.in

 

Africa Finance Corporation
Marlynie Moodley
SVP Communications
Mobile : +27(0) 82 564 2457
Email : marlynie.moodley@africafc.org

Harnessing UP’s Untapped Potential Could Raise the State’s Merchandise Exports to nearly US$ 30 Billion: India Exim Bank Study

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Release of India Exim Bank’s Publication titled “Exports from Uttar Pradesh: Trends, Opportunities and Policy Perspective” by Ms. Nirmala Sitharaman, Hon’ble Minister of Finance and Corporate Affairs, Government of India during anevent for the launch of the UbharteSitaare Fund, held at Lucknow on 21st August2021. Also seen in the photo (Left to Right) are: Ms. Harsha Bangari, Deputy Managing Director, India Exim Bank; and Mr. Sidharth Nath Singh, Minister of Micro Small and Medium Enterprises, Government of Uttar Pradesh.

Uttar Pradesh is one of the largest exporting states, with a decisive role in the export growth story of India.According to a Study published by the Export-Import Bank of India (India Exim Bank), the State ranked 5th among all States by value of merchandise exports.Although exports from the State have registered robust growth during the recent period, thereremains an untapped merchandise export potential of nearly US$ 12.2 billion. Realizing this potential could increase merchandise exports from the state to nearly US$ 30 billion.

The Study titled ‘Exports From Uttar Pradesh: Trends,Opportunities And Policy Perspective’ was released by Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, during an event jointly organized by India Exim Bank and the Small Industries Development Bank of India (SIDBI) for the launch of the UbharteSitaare Fund on 21st August 2021, at Lucknow. The event had speakers from the Ministry of Finance, the Government of UP, India Exim Bank, SIDBI and entrepreneurs from the MSME sector. The event was attended virtually and physically by more than 500 participants from the Indian business community.

The Study highlights the need for diversification of exports to higher value-added items such as pharmaceuticals, electronics and machinery, processed food, technical textiles, among others. The Study also highlights the need for diversification of markets for UP’s exports.

The Study also analyses the current status of trade enabling infrastructure in UP, and recommends strategies for plugging the existing gaps. This includes, inter alia,setting up more ICDs, air cargo facilities, and improving the connectivity to the ports in the State; leveraging centrally sponsored schemes such as the Trade Infrastructure for Export Scheme (TIES) for developing and strengthening essential export infrastructure; strengthening warehousing and cold storage facility in the State, among others. Besides, the Study also highlights the need for strengthening the SPS/TBT infrastructure in the State, in order to augment exports to highly regulated advanced economies.

The Government of UPcould also consider fiscal incentives such as capital subsidy in priority sectors such as defence goods to improve the investment climate for defence goods in the State and ensure success of the Defence Industrial Corridor projectin the State.The Study also notes that the State has strong clusters for several products, which could be strengthened through development of a mechanism for detailedassessmentof the clustersandidentification of the necessary areas of intervention. 

Speaking on the occasion, Ms. Nirmala Sitharaman highlighted the efforts taken by the Government of India to improve the competitiveness of the MSME sector in the country. Ms. Sitharamannoted that the UbharteSitaareProgram of India Exim Bank would support growth of export-oriented MSMEs throughequity, debt and technical assistance. She also noted that India Exim Bank and SIDBI would identify UbharteSitaare in each district, and create awareness among chambers in the districts.

In her address, Ms. Harsha Bangari, Deputy Managing Director, India Exim Bank further emphasized the willingness of India Exim Bank to partner future export champions under the UbharteSitaare Program and provide them with financial and advisory support. Ms. Bangari highlighted that as part of the programme, the Bank would look at supporting companies with niche products, processes or technologies, and help them foray into the international market.

For further information, please contact
Mr. S Prahalathan, Chief General Manager, Research & Analysis Group
Export-Import Bank of India, Floor 8, Maker Chambers IV,Nariman Point Mumbai 400 021. 
Telephone: +91 22-2286 0333, E-mail: prahalathan@eximbankindia.in

FM launches the Ubharte Sitaare Fund to support India’s Future Export Champions

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The Hon’ble Finance Minister of India, Smt. Nirmala Sitharaman, on Saturday, August 21, 2021 launched the Ubharte Sitaare Fund in Lucknow in the presence of Shri Siddharth Nath Singh Hon’ble Minister for MSME and Export Promotion, Government of Uttar Pradesh and Shri Pankaj Jain, Additional Secretary, Department of Financial Services, Ministry of Finance, Government of India.

The Hon’ble Finance Minister, in her budget speech last year, announced the Ubharte Sitaare Programme (USP) to be anchored by India Exim Bank together with SIDBI, in the backdrop of the constraints faced by small and mid-sized companies in realising their export ambitions. The Programme identifies Indian companies that have the potential to be future champions in the domestic arena, while catering to global demands. The identified Indian companies supported under the Programme exhibit a latent advantage by way of technology, product or process. The Programme diagnoses the hurdles and constraints of identified enterprises, and assists them, in their growth and export strategies through a mix of structured support which covers both financial and advisory services in the form of equity, debt, and technical assistance.

Under the Programme, an Alternative Investment Fund, christened “Ubharte Sitaare Fund”, co-sponsored by India Exim Bank and SIDBI with a contribution of ₹ 40 crore each has been successfully registered with SEBI in July 2021. The corpus of the Fund is ₹ 250 crore with a green shoe option of ₹ 250 crore. The Fund would invest by way of equity, and equity like products in export-oriented units, both in the manufacturing and services sectors, across the country and facilitate rising stars in the export market to attain greater heights.

The objective of the USF is to identify and invest in small and mid-size ventures in manufacturing and service industries with good export potential that could be future champions of export and handhold them through the growth phase.

Speaking on the occasion, the hon’ble Finance Minister, Ms. Nirmala Sitharaman highlighted the efforts taken by the government to provide a boost to the MSME sector in the country including the launch of the Production-Linked Incentive scheme. She noted that the government similarly announced the AatmaNirbhar Bharat initiative during the onset of the COVID-19 pandemic, which enables Indian companies to become internationally competitive and facilitate greater self-reliance in India. She noted that the USF would make investments in export-oriented small and mid-sized companies by way of equity and equity-like products, and thereby help script a new paradigm of growth in exports. The initiative would play a catalytic role in contributing to the growth of the identified companies and would also have downstream benefits such as growth and diversification of India’s exports, impetus to brand India, and employment generation.

During the event, Smt. Harsha Bangari, Deputy Managing Director, India Exim Bank, highlighted the Bank’s efforts, amidst the Covid pandemic, in developing and strengthening partnerships with leading academia, chambers of commerce, industry bodies, amongst others while operationalising the USP. Smt. Bangari further added that India Exim Bank has developed a robust pipeline of over 100 potential proposals and supported several companies across a diverse range of sectors. Some of these companies were showcased during the event including a manufacturer of key ingredients for Covid vaccines and black fungus drug and a company promoting environmental sustainability in recycling and manufacturing key inputs for FMCG packaging.

Speaking on the occasion SIDBI’s Chairman & Manging Director, Shri Sivasubramanian Ramann, highlighted several initiatives that have been taken in the recent past for the benefit of MSMEs in the country, more so in the state of Uttar Pradesh. He reiterated that SIDBI is committed to facilitate the all-round growth of MSMEs in the country through Credit-plus approach.

The event was attended physically and virtually by participants from the Indian industry and academia from across the country.

For further information, please contact:

Ms.  Meghana Joglekar, General Manager, 

Sustainable Enterprises and Export Development Group

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

World Trade Centre Complex, Cuffe Parade, Mumbai - 400005

Telephone: 91 22-2217 2600 E-mail: ccg@eximbankindia.in

Untapped Export Potential of US$ 227.4 million in Sports Goods: Exim Bank Study

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Sports goods is a niche sector, which has been a shining beacon of growth for India’s exports. The traditional clusters of Meerut in Uttar Pradesh and Jalandhar account for more than 70 percent of the sports goods production in the country. According to a study by the Export-Import Bank of India (India Exim Bank), India currently manufactures more than 300 types of sports goods and is one of the largest manufacturers in Asia, after China and Japan. Exports of sports goods from the country have increased from US$ 166.1 million in 2010-11 to US$ 278.9 million in 2019-20, registering a robust CAGR of 5.9 percent during this period. As per estimates by India Exim Bank, there remains an untapped export potential of US$ 227.4 million in the sports goods industry. If realized, it could help exports from the sector reach the US$ 500 million mark. Given India’s significant untapped potential in the sector and the Government of India’s overall focus on building a self-reliant manufacturing in the country, the Study opines that the time is ripe for India to push for appropriate reforms to address the challenges in the sports goods sector, enhance domestic capabilities and improve export competitiveness. Clusters such as Meerut in Uttar Pradesh will form the cornerstone in realizing the vision of a strong and AatmaNirbhar sports goods in the country.

The Study analyses the global trends in trade of sports goods, the performance of Indian sports goods exports over the recent years, and key aspects of India’s competitiveness in the international market. Based on a thorough analysis, comprising desk research and interaction with stakeholders, the Study identifies major challenges for the sector in India and recommends pertinent strategies for alleviating these concerns, including those arising from the COVID-19 pandemic.

The Study discusses a multi-faceted approach to improve the competitiveness of the industry including product and market diversification; building capacity for bidding in international sporting events; promoting bundling of complementary sports goods and sportech products to fetch better margins; removing policy bottlenecks that impede growth in exports or promote imports; branding of Kashmir willow bats through a GI and marketing its positive attributes in the international market; providing fiscal incentives to companies for mechanization, and testing and certification of products; mechanizing the production of footballs; investigating possibility of raising tariffs on import from China; focusing on innovation and R&D; setting up plug and play facility for foreign investments; establishing common facility centres in the key sports goods clusters for the benefit of MSMEs, and spreading awareness through seminars and workshops.

The Study titled ‘Indian Sports Goods Industry: Strategies for Tapping the Export Potential’ was released by Ms. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Corporate Affairs, during an event jointly organized by India Exim Bank and the Small Industries Development Bank of India (SIDBI) for the launch of the Ubharte Sitaare Fund on 21st August 2021, at Lucknow. The event had speakers from the Ministry of Finance, India Exim Bank, SIDBI and entrepreneurs from the MSME sector. The event was attended virtually and physically by more than 150 participants from the Indian business community.

Speaking on the occasion, Ms. Nirmala Sitharaman highlighted the efforts taken by the Government of India to impart a renewed energy to the MSME sector in the country. She noted that the Ubharte Sitaare Programme, which was announced in the Union Budget 2020, has been operationalized despite the pandemic, and is assisting companies through a mix of structured support comprising equity, debt and technical assistance. Launching the Ubharte Sitaare Fund (USF) of India Exim Bank and SIDBI, she emphasized that the Fund would make investments in export-oriented units by way of equity and equity-like products, and thereby help script a new paradigm of growth in exports from the MSME sector. 

In her address, Ms. Harsha Bangari, Deputy Managing Director, India Exim Bank further underscored the readiness of India Exim Bank to partner future export champions under the Ubharte Sitaare Program and provide them with financial and advisory services to help realize their true potential. Ms. Bangari highlighted that as part of USF, the Bank would look at investing growth capital in enterprises that have potential for quick scale up and value creation, and handholding them through the growth phase.

For further information, please contact

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

Export-Import Bank of India, Floor 8, Maker Chambers IV, Nariman Point Mumbai 400 021. 

Telephone: +91 22-2286 0333, E-mail: prahalathan@eximbankindia.in

India Exim Bank Study Suggests Setting up US$ 100 million Fund for Building Regional Healthcare Hubs Across Africa

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India Exim Bank’s study titled “India-Africa Healthcare: Prospects and Opportunities” was released during the 16th CII-EXIM Bank Digital Conclave on India-Africa Project Partnership on July 13, 2021, in the presence of Dr. S Jaishankar, Hon’ble Minister of External Affairs, Government of India, H.E. Mr. Slumber Tsogwane, Vice President, Republic of Botswana, H.E. Dr. C. G. D N Chiwenga, Vice President and Minister of Health and Child Care, Republic of Zimbabwe, H.E. Mr. Alan Kyerematen, Minister of Trade and Industry, Republic of Ghana, and Ms. Harsha Bangari, Deputy Managing Director, India Exim Bank, along with senior corporate executives.

Healthcare has remained an important pillar of India’s development cooperation with Africa. India has long been engaging with several African nations to help alleviate various infectious diseases by making generic medicines and vaccines available at low costs. According to the India Exim Bank’s study, India’s export of pharmaceutical products to Africa has more than doubled from US$ 1.3 billion in 2010 to US$ 3.2 billion in 2019, making it the largest pharmaceutical exporter to the continent. India has also engaged with Africa for supply of vaccines during the COVID-19 pandemic.

However, Africa’s healthcare development remains uneven as reflected in the Universal Health Coverage Service Coverage Index (UHC SCI), with seven countries in Africa having UHC SCI higher than the global average of 66, vis- à-vis the African average of 46 in 2017. Additionally, Africa’s growing population, along with its demographic and urban transition, could further add to the limited healthcare system in the coming years. There is an increasing need for a multisectoral approach to improve the region’s access to equitable healthcare.

In order to strengthen this partnership between India and Africa, India Exim Bank study suggests setting up a US$ 100 million fund for financing the construction of five 100-bed capacity tertiary hospitals across Africa, spread across the five regions of the Continent.  The study highlights that India, on an average, attracts over 50,000 African medical tourists annually, reflecting the demand for India’s affordable and quality healthcare. Indian hospital majors that have gained significant experience in running hospitals under the PPP framework could be ideal partners for meeting Africa’s healthcare infrastructure needs.

The study also suggests developing a pharmaceutical value chain in collaboration with the African countries and establishing regional pharmaceutical or vaccine manufacturing plants, along with joint facilities for R&D and cold storage facilities under the PPP model, contributing to building resilient supply chains. 

The other areas of cooperation suggested in the study include, strengthening hospital management and IT infrastructure, digitalisation of healthcare, facilitating medical tourism and wellness centres in Africa, developing medical equipment value chain, providing medical education and capacity building of health personnel, fostering healthcare innovation, among others. 

The healthcare and wellness sector in Africa is expected to be worth US$ 259 billion by the year 2030. The African Continental Free Trade Agreement (AfCFTA) will potentially integrate the African continent of 1.3 billion people presently, and 2.5 billion people by 2050, thereby creating scope for tapping the expanding market. The COVID-19 pandemic has emerged as a window of opportunity for Indian hospitals and related companies to collaborate to build a resilient Africa, giving the India-Africa Partnership a new dimension. Further, India’s medical diplomacy with Africa supports the Agenda 2063 and the SDGs of Africa and could be a critical pillar for taking India-Africa relations to new heights.

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