India Exim Bank was set up in 1982 by an Act of Parliament for financing, facilitating and promoting India’s foreign trade. It is the principal financial institution in the country for coordinating the working of institutions engaged in financing exports and imports. India Exim Bank is fully owned by the Government of India.
The Bank provides financial as well as value-added services to Indian exporters. Assistance is given to export-oriented units (EOUs) by way of term loans in Indian rupees or foreign currencies for setting up new production facilities, expansion/modernization, or up-gradation of existing facilities and for the acquisition of production equipment or technology. The Bank lays special emphasis on extension of Lines of Credit to overseas entities, national governments, regional financial institutions, and commercial banks. The Bank extends Buyers’ Credit and Suppliers’ Credit to finance and promote India’s exports and also has a program called the Buyer’s Credit under National Export Insurance Account to facilitate medium and long term exports from India.
To promote hi-tech exports from India, the Bank has a lending program to finance research and development activities of EOUs. The Bank’s Marketing Advisory Services program assists Indian companies in the identification of prospective business partners, facilitating placement of final orders and also the identification of opportunities for setting up plants or projects or for the acquisition of companies overseas.
The Bank supports the internationalization endeavours of Small and Medium Enterprises by meeting the foreign currency capital requirements of Indian exporters. Further, as a facilitator of trade, India Exim Bank has recently launched a portal called Exim Mitra (www.eximmitra.in), that provides trade-related information and access to credit and insurance for exporters and importers.
India Exim Bank supplements its financing programmes with a wide range of value-added information, advisory and support services, which enable exporters to evaluate international risks, tap export opportunities and improve competitiveness, thereby helping them in their globalisation efforts.