Export-Import Bank of India (Exim Bank) is working overtime to launch export facilitation portal next month with an aim to promote exports by small units.
“We are now making an attempt to reach out to a larger community and get them to consider to export after ease of export following initiatives taken by the government,” Exim Bank CMD Yaduvendra Mathur told PTI.
The portal should be up and running by the middle of October, he said.
“Through the portal, we would reach (out) to SME ecosystem to export. We would like to gradually integrate others players in the entire chain of exports like DGFT, banks and insurance companies so that we can reach a larger audience,” he said.
“To begin with, it is for information as there is a big information gap. There are a large number of potential exporters, typically smaller companies which are not able to access the whole gamut of facilities and there are many agencies involved for exports.”
The portal will be a knowledge hub and as a host of the portal, the bank is trying to put in as much information on exports as possible, he added.
To fund its business growth, the Exim Bank recently raised USD 1 billion (about Rs 6,700 crore) by selling bonds to overseas investors.
Initially announced for USD 500 million, the issue was scaled up to USD 1 billion based on strong demand from the investors.
The funds raised are used by the bank to support Indian project exports and overseas investment by way of long-term credit and its lines of credit portfolio.