Suresh Prabhu, Hon’ble Min­is­ter of Com­merce and In­dus­try, Gov­ern­ment of In­dia

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Coin­cid­ing with the In­ter­na­tional Women’s Day, Ex­port-Im­port Bank of In­dia (Exim Bank) sup­ported Sasha As­so­ci­a­tion for Craft Pro­duc­ers (Sasha) by or­ga­niz­ing a 25- day long de­sign & skill de­vel­op­ment train­ing pro­gramme for around 20 women em­broi­ders in Kan­tha em­broi­dery. The train­ing pro­gramme is be­ing or­ga­nized in as­so­ci­a­tion with Jay­pore E-Com­merce Pvt Ltd (Jay­pore). The ob­jec­tive of the train­ing pro­gramme is to de­velop prod­ucts with con­tem­po­rary aes­thet­ics and in­fuse mod­ern tech­niques in Kan­tha em­broi­dery. The pro­gramme is aimed at em­pow­er­ing women ar­ti­sans by up­scal­ing semi-skilled ar­ti­sans, cre­at­ing em­ploy­ment in the re­gion as well as pro­vide new mar­ket op­por­tu­ni­ties. Due to the ef­forts of many or­ga­ni­za­tions, Kan­tha em­broi­dery has been cre­at­ing huge po­ten­tial for em­ploy­ment in the re­gion. One such or­ga­ni­za­tion, Sasha is a fair trade cer­ti­fied not-for-profit or­ga­ni­za­tion work­ing with more than hun­dred ar­ti­sans and craft com­mu­ni­ties since 1978. Sasha & Jay­pore in as­so­ci­a­tion with Exim Bank are work­ing to­wards in­creas­ing the mar­ket po­ten­tial for Kan­tha prod­ucts through de­sign in­ter­ven­tions which would help di­ver­sify the range of prod­ucts. Upon com­ple­tion of the train­ing pro­gramme, the prod­ucts be­ing de­vel­oped will be show­cased and sold via Jay­pore’s e-com­merce plat­form. The Bank re­cently signed an MOU with the Gov­ern­ment of West Ben­gal for pro­mot­ing ex­ports from the State. Un­der which, among many other ob­jec­tives, the Bank would also sup­port the ex­porters hav­ing op­er­a­tions in West Ben­gal in achiev­ing higher ex­ports by fa­cil­i­tat­ing mar­ket link­ages by iden­ti­fi­ca­tion of suit­able part­ners and un­der­take ca­pac­ity build­ing work­shops. With re­gards to the MOU, the Bank

un­der its Mar­ket­ing Ad­vi­sory Ser­vices pro­gramme fa­cil­i­tated this train­ing pro­gramme by pro­vid­ing a plat­form for West Ben­gal crafts­men in skill upgra­da­tion, new prod­uct de­vel­op­ment and iden­ti­fi­ca­tion of buy­ers. Sign­ing of Agree­ment be­tween UNDP and Exim Bank for fi­nanc­ing a project on “Ca­pac­ity Build­ing of MSMEs in North East In­dia for Ex­port Com­petive­ness” Ex­port-Im­port Bank of In­dia (Exim Bank) and the United Na­tions De­vel­op­ment Pro­gramme ( UNDP) had signed an Agree­ment for fi­nanc­ing a project on “Ca­pac­ity Build­ing of MSMEs in North East In­dia for Ex­port Com­petive­ness” at Exim Bank’s Re­gional Of­fice, New Delhi on Fe­bru­ary 22, 2018 (Thurs­day). The Agree­ment was signed by Mr. David Rasquinha, Man­ag­ing Di­rec­tor, on be­half of Exim Bank and Ms. Ma­rina Wal­ter, Coun­try Di­rec­tor a.i., on be­half of the UNDP. The project looks at cre­at­ing stronger MSMEs in the North East re­gion to boost ex­ports, gen­er­ate em­ploy­ment and pro­vide liveli­hood op­por­tu­ni­ties to the youth and women. The key strat­egy would be to take ad­van­tage of the emerg­ing op­por­tu­ni­ties un­der the Gov­ern­ment of In­dia’s ‘Act East Pol­icy’ that rec­og­nizes the po­ten­tial of the re­gion in terms of nat­u­ral re­sources, hy­dropower, close prox­im­ity to East Asian coun­tries, among others. The key ac­tiv­i­ties of the project in­clude clus­ter-based sup­port to grass­roots MSMEs in North East In­dia in im­prov­ing their ex­port com­pet­i­tive­ness through Exim Bank’s GRID Ini­tia­tive. Key de­liv­er­ables would in­clude a de­tailed gap anal­y­sis re­port and a clus­ter level im­ple­men­ta­tion strat­egy; re­source hand­book, on­line sup­port re­sources for en­trepreneurs, in­dus­try as­so­ci­a­tions, ex­port pro­mo­tion agen­cies;In-depth mar­ket anal­y­sis and tech­ni­cal re­ports;state-spe­cific ex­port pro­mo­tion strat­egy with clear roadmap for in­crease in ex­port volumes in iden­ti­fied com­modi­ties and prod­ucts; and com­pen­dium of suc­cess sto­ries, among others.

Exim Bank’s Com­pen­dium on Trade Fi­nance High­lights the Need for In­no­va­tive, In­clu­sive and In­te­grated Strate­gies for Scal­ing-Up Trade Fi­nance

Exim Bank’s pub­li­ca­tion en­ti­tled ‘Cre­at­ing a Re­silient Trade Fi­nance Ar­chi­tec­ture: A Com­pen­dium of Ar­ti­cles’ sys­tem­at­i­cally presents the im­ped­i­ments to trade fi­nance and draws out in­no­va­tive, in­clu­sive and in­te­grated strate­gies for scal­ing up trade fi­nance, and as a corol­lary, catalysing global trade. The Com­pen­dium con­tains 12 ar­ti­cles / pa­pers con­trib­uted by lead­ing In­dian and in­ter­na­tional ex­perts in this field. The pub­li­ca­tion was re­leased by Mr. Suresh Prabhu, Hon’ble Min­is­ter of Com­merce and In­dus­try, Gov­ern­ment of In­dia, dur­ing the Vale­dic­tory Ses­sion of the 41st An­nual Meet­ing of the As­so­ci­a­tion of De­vel­op­ment Fi­nanc­ing In­sti­tu­tions in Asia and the Pa­cific, held at New Delhi on 21st Fe­bru­ary 2018. The Com­pen­dium in­cludes ar­ti­cles cat­e­go­rized un­der four broad themes, with the first one pro­vid­ing an ‘Over­view of De­vel­op­ments in

Trade Fi­nance’. The ar­ti­cle by Dr. Be­joy Das Gupta, Ad­junct Pro­fes­sor, Maxwell School of Ci­ti­zen­ship and Pub­lic Af­fairs, dis­cusses the trends in trade fi­nance busi­ness and high­lights the un­in­tended con­se­quences of reg­u­la­tions on trade fi­nance. Dr. Marc Auboin, Coun­sel­lor, Eco­nomic Re­search and Sta­tis­tics Divi­sion, World Trade Or­ga­ni­za­tion (WTO),in his ar­ti­cle, de­lin­eates the WTO’s ac­tion plan for al­le­vi­at­ing trade fi­nance con­straints. Mr. Daniel Sch­mand, Chair­man, In­ter­na­tional Cham­ber of Com­merce (ICC) Bank­ing Com­mis­sion, in his ar­ti­cle, high­lights the ma­jor chal­lenges in trade fi­nance and puts for­ward the ini­tia­tives taken by ICC Bank­ing Com­mis­sion in tack­ling pro­tec­tion­ism, fos­ter­ing fi­nan­cial in­clu­sion, and en­cour­ag­ing stan­dard­iza­tion in sup­ply chain fi­nance. The sec­ond theme of the Com­pen­dium is ‘Role of De­vel­op­ment Banks and Ex­port Credit Agen­cies’. In her ar­ti­cle, Ms. Diana Small ridge, Pres­i­dent, In­ter­na­tional Fi­nan­cial Con­sult­ing Ltd. notes that in­ter­na­tional banks, in­creas­ingly con­cerned about An­tiMoney Laun­der­ing and Coun­terT­er­ror­ism-Fi­nanc­ing risk, are de­risk­ing by ei­ther re­duc­ing their ex­po­sures or at times com­pletely ex­it­ing coun­tries where there is a lack of trans­parency over lo­cal banks’ ac­tiv­i­ties and com­pli­ance strate­gies. The ar­ti­cle also out­lines the role of de­vel­op­ment banks in ad­dress­ing trade fi­nance gaps in the post Global Fi­nan­cial Cri­sis pe­riod. An ar­ti­cle by ECGC Ltd. pro­vides an over­view of the ex­port credit in­sur­ance busi­ness, and dis­cusses the role of ECGC Ltd. in sup­port­ing trade fi­nance. Un­der­scor­ing the role of credit in­sur­ance prod­ucts in an ef­fi­cient trade fi­nanc­ing mar­ket, Mr. Vinco David, Sec­re­tary Gen­eral, Berne Union­delves upon the im­por­tant role of ECAs in the low and mid­dle in­come coun­tries. In the third theme, ‘Re­gional Per­spec­tive on Trade Fi­nance’, Mr. Rajnish Ku­mar, Chair­man, State Bank of In­dia has an­a­lysed the re­cent trends in trade fi­nance within the In­doPa­cific re­gion with spe­cial fo­cus on the trade fi­nanc­ing sce­nario in In­dia. Ms. Padma Be­tai, Chief Gen­eral Man­ager, IDBI Bank Ltd. fur­ther elab­o­rates on the var­i­ous facets of trade fi­nanc­ing and the emerg­ing op­por­tu­ni­ties go­ing for­ward. An ar­ti­cle au­thored by ALIDE presents the case of Latin Amer­i­can coun­tries and lu­cidly out­lines the trade fi­nance sce­nario, and the role of de­vel­op­ment banks in mit­i­gat­ing chal­lenges to trade fi­nance in these economies. While sev­eral ar­ti­cles dis­cuss strate­gies which can be in­stru­men­tal in bridg­ing the trade fi­nance gap, the fi­nal sec­tion con­sists of ar­ti­cles which pro­vide spe­cific in­sights on ‘Im­prov­ing Trade Fi­nance Avail­abil­ity’. Ms. Janet Hyde, In­vest­ment Spe­cial­ist, Trade Fi­nance Pro­gram, Asian De­vel­op­ment Bank de­scribes the role of trade fi­nance pro­gram of mul­ti­lat­eral de­vel­op­ment banks in lift­ing im­ped­i­ments to trade fi­nance. Dr. C.P. Chan­drasekhar, Pro­fes­sor, Jawa­har­lal Nehru Univer­sity has made an ar­tic­u­late com­men­tary on hedg­ing in trade fi­nance. An ar­ti­cle by Mr. David Rasquinha, Man­ag­ing Di­rec­tor, Ex­port-Im­port Bank of In­dia, dis­cusses the var­i­ous so­lu­tions which can help build re­silient trade fi­nance ar­chi­tec­ture, and high­lights the cru­cial role which will be played by ECAs and de­vel­op­ment bank in im­part­ing a fresh res­o­nance to growth in trade fi­nance.

Suresh Prabhu, Hon’ble Min­is­ter of Com­merce and In­dus­try, Gov­ern­ment of In­dia

David Rasquinha, Man­ag­ing Di­rec­tor, Ex­port-Im­port Bank of In­dia

Mr. Suresh Prabhu, Hon’ble Min­is­ter of Com­merce and In­dus­try, Gov­ern­ment of In­dia, dur­ing the Vale­dic­tory Ses­sion of the 41st An­nual Meet­ing of the As­so­ci­a­tion of De­vel­op­ment Fi­nanc­ing In­sti­tu­tions in Asia and the Pa­cific, held at New Delhi on 21stFe­bru­ary 2018

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