Wednesday, July 30, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Exports

Exports: Exim Finserve to support Indian exporters from GIFT City

Fiinews by Fiinews
August 10, 2023
in Exports
Reading Time: 3 mins read
A A
0
Exim Bank

In auguration of Exim Finserv office at Gift City on 8 Aug 2023.

0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Bangari aligns with Bank’s growing focus on meeting financing gaps faced by MSME exporters

India Exim Finserve IFSC Private Limited, the subsidiary of the Export-Import Bank of India (Exim Bank), at the Gujarat International Financial Tec City (GIFT City), will extend a comprehensive range of trade finance products to Indian exporters, with a primary focus on export factoring.

Speaking at the launch office inauguration of Exim Finserve on 8 Aug, Dr. Vivek Joshi, Secretary, DFS, noted that the subsidiary of Exim Bank, which was announced in the Union Budget 2023, is another link in the mosaic of efforts being taken by the Government to improve access to finance for MSMEs.

He mentioned that the launch of Exim Finserve is extremely timely and most suitable given the need of the hour, especially for MSMEs, and expressed confidence in the ability of Exim Finserve to effectively leverage the cohesive and eased framework for factoring services, to meet the requirements of MSME exporters. 

The factoring services by Exim Finserve will provide a combination of three essential services to exporters: receivables financing, coverage of the risk of non-payment and management of accounts receivable.

This would lead to improved cash flow and reduced payment risk for exporters, enabling them to confidently explore new markets and seize growth opportunities. The factoring services would be particularly beneficial for MSME exporters as it is primarily based on the quality of accounts receivable, rather than collateral.

Harsha Bangari, Managing Director, Exim Bank, highlighted that the launch of Exim Finserve aligns with the Bank’s growing focus on meeting the financing gaps faced by MSME exporters.

She pointed out that Exim Finserve, through its factoring services, is set to enhance the export competitiveness of MSMEs as they can offer competitive credit terms to their buyers, without associated risks and cash flow difficulties.

Bangari informed that with the launch of Exim Finserve, Exim Bank is now covering the entire canvas of trade with bank-intermediated trade finance along with open account trade.

In his address, K. Rajaraman, Chairperson, International Financial Services Centres Authority (IFSCA) highlighted the conducive regulatory environment in GIFT City and mentioned that Exim Finserve is the first finance company in GIFT City in the area of export factoring adding the much needed vibrancy in the ecosystem.

During the ribbon-cutting ceremony at Exim Finserve’s office, Tapan Ray, Managing Director & Group CEO, GIFT City, noted that Exim Finserve would further bolster GIFT City’s position as a financial and technological hub.

During the inauguration event, Exim Bank’s study titled “Strengthening Collaborations to Bridge the Trade Finance Gap: Insights for G20 Countries” was also released.

The Study notes that the trade finance gap expanded to US$2 trillion in 2021/22. Some of the strategies highlighted in the Study to bridge the gap include harmonisation of KYC standards for reducing frictions in cross-border payments; leveraging automation and digitalisation for trade finance; enhancing collaboration among Multilateral Development Banks, Export Credit Agencies and National Development Finance Institutions; exploring alternative trade financing such as supply chain financing solutions; creating a trade finance facility through cooperation among G20 countries; and bridging the data gaps in trade finance to improve trade finance policy design and operation. Fiinews.com

Tags: EXIM Bank
ShareTweetShare

Related Posts

Sell To The World FIEO
Exports

Export: FIEO sees bilateral doubles to $120bn

by Fiinews
July 29, 2025
0
12

Transformational moment for Indian exporters India's recently signed Free Trade Agreement (FTA) with the United Kingdom is set to double...

Shahi Exports
Exports

Export: FTA aligns with deeper global vision

by Fiinews
July 29, 2025
0
13

Transformative moment in global economic landscape, says Shah The India–UK Free Trade Agreement, signed on 24 July in London, marks...

Toy Association Of India

Export: India-UK FTA to boost bilateral trade

July 29, 2025
13
PIB

Export: Rail items supplied to multiple countries

July 29, 2025
15
Export New Zealand

Export: India-NZ FTA completes round 2 negotiations

July 27, 2025
17
PIB

Export: CETA to double India-UK bilateral trade

July 25, 2025
16
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: SSVM to host conclave in Coimbatore
  • Project: RIL-ONGC-BP explore GS-OSHP-2022/2
  • Project: Rs.16,300cr allocated to Critical Mineral Mission
  • Manufacturing: DPIIT-Ather collaborate for EV growth
  • Market: Nedia-Birla to work across Americas

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.