Trade agreements and digitization drives market growth
India’s Trade Finance Market is expected to reach US$3.88 billion by 2027, growing at a CAGR of 7.1%. It is estimated to be US$2.75 billion in 2022, according to a ResearchAndMarkets report.
The report, dated 1 Sept 2022, recommends that companies strength their foothold in the Indian market.
It notes that the market is driven by increasing number of trade agreements and increasing digitization of Financial Services.
It also notes that Banks and Financial Agencies are enhancing their trade facilitation programmes.
Opportunities includes integration of Blockchain in Trade Finance activities as well as implications of Government Initiatives on Trade.
The challenges include scarcity of Trade Finance and complexity of Trade Finance Transactions.
However, the market growth is restrained by stringent regulatory and financial crime compliance and high implementation cost.
The market is led by:
Asian Development Bank.
Bank Of America
BNP Paribas
Euler Hermes
JP Morgan Chase &Co.
Mitsubishi UFJ Financial Group, Inc.
Royal Bank Of Scotland Plc
Standard Chartered
HSBC
Morgan Stanley
Wells Fargo & Co.
Export-Import Bank of India.
PrimaDollar
Blend Finance
Interlink Capital
Mega Fin India
Transwarranty Finance Limited
Radiance Financial Services
Cargill Trade & Structured Finance
Swift India
Adam Smith Associates
Drip Capital
Terkar Capital
SBM Bank. fiinews.com
