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