Presentation on theme: "EXPORT-IMPORT BANK OF INDIA"— Presentation transcript:
1 EXPORT-IMPORT BANK OF INDIA Export financing by way of term loans for project exports, buyers credit and lines of credit : the role of Exim Bank.Presentation byMr. Yaduvendra Mathur,Chairman & Managing DirectorExport Import Bank of India,Geneva, March 28, 2014
2 Towards Increased Global Integration through Trade India’s International TradeTowards Increased Global Integration through TradeIndia’s total merchandise trade increased over two-fold from US$ bn in FY 2007 to US$ 791 bn in FYTrade-GDP ratio increased from 32.9% in FY 2007 to 43% in FY 2013Exports-GDP ratio increased from % in FY 2007 to 16.3% in FY 2013Share of India in world merchandise export – 1.6% in 2012; Rank– 19 (up from 26th in 2007)On the external front, the Indian economy has witnessed robust rise in both exports and imports in recent yearsExports, in the last 4 years, have registered an annual average growth of around 25%, and in the year , India’s exports crossed the US$ 100 bn mark, to touch US$ 103 bn.The buoyancy in exports can be attributed to increasing global competitiveness of India’s exports, as also sustained external demand.Concomitantly, India’s imports have also risen, reflecting the buoyancy in domestic industrial activity, as also the continued high level of global oil pricesSource: Ministry of Commerce & Industry, Government of India2
3 India’s Export: Shifting Southwards India’s Export Destinations (US$ 53 bn)India’s Export Destinations (US$ 300 bn)Direction of exports moving towards the Southern countries, particularly Asia and Africa regionShare of Asia, Africa and LAC regions increased sharply from 51.1% in to 65.0% in ; Of this, share of Asia region rose from 43.1% to 50.8% during this periodFuture trade flows to be geared towards the developing nations (buttressed by GOI policies)Source: Ministry of Commerce & Industry, Government of India
4 Export-Import Bank of India SET UP BY AN ACT OF PARLIAMENT IN SEPTEMBER 1981WHOLLY OWNED BY GOVERNMENT OF INDIACOMMENCED OPERATIONS IN MARCH 1982APEX FINANCIAL INSTITUTIONOBJECTIVES:“… for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade…”“… shall act on business principles with due regard to public interest”(Export-Import Bank of India Act, 1981)
5 Evolving VisionProduct Centric Approach“To develop commercially viable relationships with a target set of externally oriented companies by offering them a comprehensive range of products and services, aimed at enhancing their internationalisation efforts”ExportCreditsExport CapabilityCreationThe Bank’s vision has evolved from financing, facilitating and promoting trade and investment, to a conscious, systematic effort at creating export capabilities by arranging competitive finance at all stages of the business cycle.The Bank now seeks to develop commercially viable business relationships with externally oriented companies by offering them a comprehensive range of lending and service programmes aimed at enhancing their globalisation efforts.Comprehensive Range ofProducts And Services– All Stages of the Export Business Cycle –Customer Centric ApproachExim Bank TODAYLeadership and Expertise in India’s Export Finance
6 Range of Products & Services At All Stages of Export Business CycleValue Based Services to ExportersINFORMATIONAdvisoryServicesKnowledgeBuildingSUPPLEMENTS FINANCING PROGRAMMESExport MarketingPre- ShipmentExport ProductionPost- ShipmentExport Product DevelopmentDeveloping countries lacking forex can buy Indian goods on creditEntry mechanism for new markets / developments of new marketFinancing of export contracts under one umbrellaSetting up new ventures overseas / acquisition of existing overseas companiesOver 100 ventures in 28 countriesInvestment AbroadImport FinanceAdvisory ServicesFINANCING, FACILITATING INDIA’S TWO WAY TRADE & INVESTMENT
7 Financing Programmes Financing Program (Various Currencies) Export CreditMedium / Long TermLines of CreditBuyer’s CreditSupplier’s CreditShort TermPre / Post Shipment CreditImport CreditImport Loan for capital goodsBulk Import Loan for Raw MaterialsLoans for Exporting UnitsTerm Loans for expansion/ diversification / new projects/ export product development/ export marketing / research & developmentTerm Loans for overseas equity investmentDirect equity stake in Indian/ Overseas ventures of exporting companies
8 LOC - A Catalyst for Trade Promotion Lines of CreditLOC - A Catalyst for Trade PromotionExim Bank gives special emphasis on extension of Lines of Credit (LOCs) as an effective market entry mechanismExim Bank extends export LOC to overseas financial institutions, regional development banks and foreign governments and their agenciesLOCs enable buyers in those countries to import developmental and infrastructural projects, equipment, goods and services from India, on deferred credit termsLOC is a financing mechanism that provides a safe mode of non-recourse financing option to Indian exporters
9 Lines of Credit Programme Lines of Credit (LOCs)Exim’s own LOCs to economically strong developing countries and regional development banksAt behest of GOI, concessional LOCs to developing countries in Asia/ Africa/ Latin America/ CIS and Oceania with a long-term perspective. While Exim raises the resources and funds disbursement, GOI guarantee and provide interest equalisation support under Indian Development and Economic Assistance Scheme (IDEAS)Status of LOCs as on March 20, 2014No. of LOCs operative : 189No. of countries covered : 75Total amount of LOCs sanctioned : US$ billion
10 PRESS REPORTSColombo- Matara Railway Line Exim Bank has extended two Lines of Credit (LOCs) aggregating USD million to the Government of Sri Lanka (GOS) for Upgradation of Southern Railway Corridor from Colombo to Matara in Sri LankaNew Delhi, March 10- Lines of Credit worth more than $1 billion extended by India to Ethiopia have helped the landlocked country build its sugar and power industries and rail network, Ambassador Gennet Zewide said.“Ethiopia has been net importer of sugar for so many years. We were the third largest importer of sugar. Earlier $ million annually was spent on sugar but after the line of credit came in we are not importing sugar. We are rather selling. By 2015 we are going to be net exporter of sugar. We will export to European Union countries.”
11 Agro-processing plant - Malawi Success Story: SenegalCoverage area under irrigation has increased more than two fold from 24,500 ha in to 65,000 ha inRice production in the region has also gone up by 177% from 130,000 tonnes in to 360,000 tonnes inNow, around 40% of the rice demand of Northern Senegal could be met by local production, as compared to the earlier 19% of local demand.Reduced the import bill of food products as also generated employment as field workers (particularly women farmers) and servicing staff of equipment.Under the LOC of US$ 27 mn to Senegal an Indian company in January 2007, manufactured, supplied and installed 2394 diesel engine pump sets in rice producing zones of SenegalAgro-processing plant - MalawiEquipments supplied, installed, commissioned and training provided by an Indian Company under the LOC of US$ 30 mn to Govt. of Malawi, for One Village One Product Programme (OVOP) and Small Holder’s Irrigation Programme. Project helped create jobs and livelyhood in those region.1111
12 Exim Bank – Promoting Project Exports Exim Bank plays a pivotal role in promoting and financing project exports.Exports of projects and services, broadly categorised into: Civil engineering construction projects, Turnkey projects, Consultancy services, and Supply contracts on deferred payment termsProjects valued upto USD 100 mn can be approved by Exim Bank or any other Authorised dealers, over USD 100 mn are to be approved by Working Group. Exim Bank coordinates the Working Group Mechanism. Apart from regulatory approvals, Exim Bank extends funded & non-funded facilities.Over the past two decades, increasing number of contracts have been secured by Indian companies in Asia, Sub Saharan Africa, CIS, Latin America.Such projects supplement the efforts of the host country governments in achieving their developmental objectives.Projects Under Execution with Exim Bank Support (As on December 31, 2013)No. of Contracts : 343 Value of Contracts : US$ billionNo. of Countries : 72 No of Indian companies : 91
13 Exim Bank: Supporting Projects & Services Exports from India to Africa Facilitating and supporting Infrastructure DevelopmentTurnkey contract for Gas Based Power Project in Tanzania funded by The World Bank.Transmission Line Projects in Algeria, Tunisia, Ethiopia, Kenya, Libya, ZambiaTelecommunications Network Project in GhanaTurnkey contract for Multi-Product Pipeline Project & Road Construction Project in SudanPower Station Project in Egypt.Consultancy assignment in Cement Plant in Nigeria.Supplies for Urban Power Rehabilitation Project in Uganda.Construction of Cyber Towers & Conference Center in Mauritius.Electricity interconnection project between Cote d’Ivoire and Mali.Rural Electrification Project in Senegal.Agricultural Development Project in Mauritania.
14 Facilitating and supporting Infrastructure Development Exim Bank: Supporting Projects & Services Exports from India to Other RegionsFacilitating and supporting Infrastructure DevelopmentPower generation & transmission line projects in UAE, Saudi Arabia, Qatar, Vietnam, Myanmar Laos, Kazakhstan, Belarus, France, Ukraine, Georgia,Supply of machinery & transport equipment- Bangladesh, Myanmar, Suriname, HondurasOil and gas- Qatar, Oman, Thailand, Singapore, MyanmarTransportation & railway line projects- Sri Lanka, Nepal, MalaysiaConsultancy services for Hydroelectric Project- Nepal, LaosEngineering & Construction projects- Cuba, Guyana, Australia, Cambodia, Malaysia, JordanConstruction of dams- Saudi Arabia, Bhutan, Sri LankaTelecommunications Network Project in Qatar, Malaysia, UAE, Turkmenistan, Sri LankaIrrigation projects in Guyana, LaosSugar Projects in Fiji Islands
15 Exim Bank: Supporting Projects & Services Exports from India to Other Regions during FY 2014
16 Benefits of LOC and Project Exports recipient countries Access to Indian technologies and products at competitive priceIndian technology – Triple ‘A’ –“Appropriate”“Adaptable”“Affordable”Developmental and infrastructure projects – Transfer of technologyCapacity buildingConcessional interest rates and long repayment periods with moratorium
17 Providence Cricket Stadium in Georgetown, Guyana, where several matches of the World Cup 2007 were played, was designed and constructed by an Indian Company with financial assistance by Exim Bank.
18 Success Story: Ghana Success Story: Angola 18 18 Modernization and upgradation of workshop, supply of 41 coaches, 3 locomotives, 2 Diesel Multiple Units and pick-up vehicles and buses.Coaches are operating between Namibe and Matala (434 km) carrying, both passenger and freight traffic.Provides cheaper mode of transportation as compared to roadFacilitated exploration of Kassinga Mines deposit bed (iron ore) in the municipality of Jamba Huila Province.Farmers using railway to transport their agricultural products to interior regions at reasonable price.Locomotives and coaches were supplied by Indian Company for rehabilitation of Railway in Angola under the GOI-supported LOC of US$ 40 mnSuccess Story: GhanaLandmark and monumental structure in entire West African regionSymbol of enhanced Indo-Ghana relationshipProvided jobs to semi-skilled and un-skilled labourers of GhanaA landmark structure to house Seat of the Government and Presidency has been constructed by an Indian company financed under the GOI-supported LOC to Ghana.1818
19 Buyer’s Credit under NEIA (BC-NEIA) Buyer's Credit under GOI’s National Export Insurance Account (BC-NEIA) program, was a pioneering innovation lead by the Ministry of Commerce & Industry’s (MOCI) to promote and boost project exports from India. MOCI, in conjunction with Exim Bank and ECGC, launched this initiative in AprilBC-NEIA is a unique financing mechanism that provides a safe mode of non-recourse financing option to Indian exporters and serves as an effective market entry tool to traditional as well as new markets in developing countries, which need deferred credit on medium or long term basis.BC-NEIA is extended by the Exim Bank to the governments of recipient countries or to the underlying project authorities backed by a sovereign guarantee.NEIA, through ECGC, provides Exim Bank cover upto 100% for the facility and also cover for exchange rate fluctuation till repayment of the credit.
20 Buyer’s Credit under NEIA (BC-NEIA) The Indian project exporter is backed by a tailored financing package that meets the funding needs of the project, without impacting the balance sheet of the Indian project exporter. Indian exporters can obtain payment of eligible value from Exim Bank, without recourse to them, against negotiation of shipping documents.The Exporter continues to be responsible for the timely and satisfactory execution of the project, but is free from commercial and political risks arising out of the financing.Facility to cover 85% of contract value, higher amounts can be considered on a case-to-case basis. A minimum of 75% of the goods and services under the credit facility is expected to be exported from India. A suitable relaxation, not exceeding 10%, may be considered for exceptional reasons, especially in case of projects having civil construction.Tenor of the Buyer’s Credit can normally be upto 15 years.
21 Financing Equity Investments/ Acquisitions / JVs Financing for Overseas InvestmentsFinancing Equity Investments/ Acquisitions / JVsComprehensive assistance:Pre investment advisory services; Finance through debt and equityFinance available for:Greenfield projects; Brownfield expansion;Overseas acquisitions directly or through special purpose vehiclesLoan against Equity; loans to Overseas Indian Ventures; direct equity participation in Indian ventures abroad.As on December 31, 2013, Exim Bank has provided finance to ventures set up by more than 376 companies in 80 countries. So far, aggregate assistance extended to overseas investments amounted to around US$ 6 bn.
22 Supporting Two Way Investments Promoting Overseas InvestmentsSupporting Two Way InvestmentsCoal and Coke- Australia, Indonesia, SinagporeElectrical and electronics- Bangladesh, BrazilTextiles and clothing- Bangladesh, SwitzerlandEnergy- Brazil, Canada, Indonesia, Netherlands, USAPharmaceuticals- Brazil, China, UgandaPackaging- Turkey, China , NigeriaSteel- Chile, China, Netherlands, Sri Lanka, UAE, UKRubber- KenyaChemicals- Germany, Jordan, Malaysia, Netherlands, Morocco, Taiwan, UAE, USAGlass- USA, Germany, Sri Lanka,Automobile Industry- GermanyFertilizers- Ghana, Morocco,Irrigation- Mauritius, IsraelMetals- Italy, Tanzania22
23 Financing R&D Activities of EOU’s Financing for Research & DevelopmentFinancing R&D Activities of EOU’sExtended to any Export Oriented Unit (EOU) by way of term loan (senior / subordinated) or equity participation or as a hybrid productAlso extended to Research Foundations/ Institutes/ SPVs promoted by companies eligible for financingEligible expenditure to cover capital as well as revenue expenditureExim Bank facility restricted to 80% of the total financing requirementTenor generally not exceeding 7 years
24 Competitive Financing for SMEs Exim Bank and SMEsCompetitive Financing for SMEsA special group handling SMESeeks to help Indian SME sector to establish their products overseas and enter new markets through Exim’s overseas offices and MOU partner networkSet up a Technology and Innovation Enhancement and Infrastructure Development (TIEID) Fund exclusively for MSMEs by partnering with the banks/FIs. The fund seeks to meet medium- and long-term foreign currency loan requirement of Indian Exporting entities in the MSME sector.Received approval from ADB for a term loan of US$ 100 mn (for a tenor of up to 7 years) to extend sub-loans to SMEs and SME clusters in select states of India
25 Financial support to rural grassroots enterprises Grassroots Initiative and Development - Supporting Exports From Rural IndiaFinancial support to rural grassroots enterprisesMarketing of Bamboo Craft Products and improving Packaging and PresentationMechanization of Incense Sticks (Agarbatti) rolling activityCluster of companies propagating traditional system of Indian medicines for setting up a common infrastructure facilityEnterprise sourcing tasar silk products, to enhance exports and higher productivity and income levels of womenSociety working in the field of education & health, for upgrading and modernising its existing unit producing various types of handicrafts including bamboo and natural fibre based productsHandloom cluster, for visual merchandising of the product, e-tailing, and establishment of yarn bank and website upgradationArtisans’ and farmers’ cooperative society, which produces naturally dyed silk and wool textiles for purchase of machineries for dyeing
26 Organizations supported under GRID ECO TASAR SILK PVT. LTD. : Formed in association with Masuta Producer Company Limited (a producer company promoted by PRADAN, the shareholders of which are the Weavers from its TASAR project in Jharkhand and Bihar). Bank has sanctioned Pre-Post Shipment Credit/Working Capital facility during 2012 towards part financing the cost of procurement of raw materials to meet export order requirement towards off-the-loom products on handlooms in Bhagalpur working with 1200 artisans. Product range consists of scarves, stoles, shawls, sarees, throws and dupattas.INDUSTREE CRAFTS PVT. LTD. : Is a Bangalore based profit organization which specializes in using locally available natural materials such as river grass, banana bark yarn and palm leaves amongst others to create objects of everyday use, which works with 300 artisans.SAHAJ – AN ORGANIZATION FOR WOMEN;S DEVELOPMENT : Is a registered trust and is working with more than 1200 tribal women artisans and nearly 700 tribal families. The main activities include Bead work, Bamboo basketry and furniture, Paper Mache, Beaded Jewellery, Wood carving, furniture, Block Printing, Stuffed toys, etc.
27 Training and Workshops conducted. EXIM Bank conducted a ten-days “Design Development &Training Workshop” for 30 rural women artisans in the area of coconut shell crafts from March 13-22, 2013 in Marcel, Goa. The workshop imparted training to women artisans with a view to improve the scope of their income generation through new design and development of marketable products based on the craft and skill level of artisans. The initiative resulted in developing of 25 prototypes having international appeal in the said craft.Organized a 15 days training cum workshop programme for 60 master artisans for Handloom Products in association with Impulse Social Enterprise Private Limited, Shillong recently, in Golaghat District of Assam. The main objective was to impart training to the skilled master artisans to improve their understanding and quality consciousness of handloom products, in the larger context of improving the scope of income generation through new design and development of marketable products based on the craft and skill level of artisans.
28 ImpactImproving Packaging, Presentation and Marketing of Bamboo Craft Products, URAVU, Wayanad, Kerala : Promotes bamboo craft for ensuring livelihood sustenance of rural poor, especially women. Exim Bank conceptualized a bamboo pen “Script O”. Exim Bank intervention has helped :Increase the brand value of URAVU through promotional videos and other packaging and design workshop.Productivity of workers almost doubled and standardization of process helped them reduce cost to one-third.Tie up with Village Store, Mumbai helped them get ` 20 lakhs worth of orders.Mechanization of Agarbatti rolling activity, ORMAS, Bhubaneswar, Odisha : The objective being mechanization in rural enterprises for their efficient capacity building. Exim Bank loan of ` 5 lakhs through GRID has helped :400% increase in productivity from 2kg/day up to 10 kg/per day.400% increase in income from ` 18/day to ` 90/day.Change in aspiration to people, Improved access to healthcare and Importance given to education of children.Easy replication of the machines has helped ORMAS to further scale up the project.ECO Tasar Silk Pvt. Ltd. : Impact in the Value Chain.A. Yarn Makers :1000 women yarn makers get sustenance on account of their association with ECO Tasar.
29 Impact cont…1000 women yarn makers get sustenance on account of their association with ECO Tasar.` 1 cr worth of cumulative wages generated.Only wild silk from Jharkhan and Assam tribal's is sourced.B. Handloom Weavers:Cumulative sales resulted in weaving of 1,05,918 metres just for the exports market.Overall, over metres woven materials were sold.The business has been able to generate ` 1.2 cr worth of wages and has created job opportunities for almost 290 weavers on a full time basis.C. Finishers and other service providers inHandloom Chain :The business has been able to generate ` 47,60,000/- as wages for approx. 124 persons.
30 Exim Bank - Skill Upgradation Seminars / WorkshopsEximius Centers of Learning for knowledge building & capacity creation for SMEs – Bangalore / Pune / Ahmedabad.Set up to organize seminars and workshops for the benefit of exporting companies.Workshop on Indian Economy and Economic SurveyInteractive Session on Financing Options for Project ExportsExport Potential SeminarsTrade and Investment Opportunities SeminarsSubjects include:International trade & investmentExport marketingSector and country specific programmesQualityPackagingBusiness opportunities in multilateral agencies funded projects
31 Exim Bank - Promotional Activities Knowledge Building: Research PublicationsResearch Studies on products, sectors, countries, macro economic issues relevant to international trade and investmentSector Studies assessing export potentialIndian Horticulture; Chemicals ; Biotechnology; Indian Automotive IndustryTechnology Intervention in Indian AgricultureStrategic Development of MSMEsBilateral Trade and Investment StudiesSAARC; GCC; ASEAN; West Africa; MERCOSUR; Southern Africa Development Community (SADC); Cambodia, Laos, Myanmar, Vietnam (CLMV)Myanmar; China; Russia; France; UKExim NewslettersExport Advantage (bilingual)Agri Export Advantage (in English, Hindi and 10 regional languages)Indo-China Newsletter (bilingual)
32 Promotional Activities Exim Bank as ConsultantFeasibility study for setting up the Afreximbank, Exim MalaysiaEstablishing an Export Credit Guarantee Company in ZimbabweDesigning of Export Financing Programmes – Turkey, South AfricaMauritius – Study on Projecting Mauritius as an Investment Hub for Indian FirmsCommissioned to design, develop and Implement Programme on Film Financing for NEXIM Bank, NigeriaFeasibility study for establishment of an export credit and guarantee facility for Gulf Cooperation Council countries
33 New Initiative: Financing Infrastructure Projects
34 Project Development Company (PDC) AIMCreate a pipeline of Bankable projectsMitigation of technical & financial risksRemove/minimize the bottlenecks related to approvalsLong term environment sustainabilityMinimization of implementation timeCapacity building of the local GovernmentStrengthening of local entrepreneurial capacityInvolvement of local stakeholdersMain Objective- To identify and/or develop infrastructure projects across African Continent in order to create opportunity for diverse set of Investors to Develop, Operate and Invest in Infrastructure Sector in AfricaProposed Initial Equity Capital : USD 25 mn. with contribution of USD 5 mn. from each partnerLeverage the strengths of stakeholders and their Group companies across the value chain of Project Development and implementation related activities.
35 Business FocusThe project development activities shall involve, but not limited to the following;Technical Advice and assistance in analyzing projects, including preparation of project proposals, review and revision of project proposals, environmental and social impact analysisPolicy advocacy related activities e.g. identification, promotion and dissemination of best practices in infrastructure developmentUndertake the preparation of new studies, pre-feasibility or feasibility studies, update or additional analysis of existing studies, pre-feasibility studies, feasibility studies, environmental and social impact assessment, design studies and other related studies in order to improve on the project quality and enhance prospects to attract financing for the projectsPreparation of the Procurement documents including EOIs, RFPs for engagement of Technical/Financial ConsultantsCapacity building of the relevant Stakeholders.
36 Project Sourcing…..The PDC would work closely with host Government agencies and local entrepreneurs in the following domains:Infrastructure projects which the PDC would identify on its own, and seek a mandate from the concerned Government authority to develop on a PPP framework;Projects sourced through private clientsConventional Transaction Advisory mandates for Infrastructure projects from local GovernmentsIt is expected that the PDC will also seek mandates from the concerned Government authority to develop, finance and implement the infrastructure projects through bidding process or nomination basis depending upon the extant policies of the Government.
37 Operational Eco System Multilateral/ DFIsPromoters' Capabilities leveraged for Development, Financing and Operations of identified Infrastructure ProjectsAfrican Govt/AgenciesGoIPDCIndian/Multinational Private Sector Infra. PartnersAfrican Private Sector
38 Proposed Institutional Structure Chief Executive OfficerCountry-level Nodal Agency/ Infrastructure Dev. BoardProject Specific Special Purpose Vehicle (SPV)(Techno-Economic Feasibility Studies, land, concession, Financing Arrangement etc to be housed in the SPV)InvestmentFacilitation in Country LevelClearances/ApprovalsSelection of Implementation AgencyInstitutionalLinkagePDCRecovery of Investment & Development FeeIL&FS JVEXIMSBISPECIFIC PROJECT DEVELOPMENTAfDB
39 VISION FOR G-NEXIDShikli Development for Capacity Building Programmes : Member institutions could organize training programmes/workshops on specific topics such as overseas investment finance, sme financing, cluster financing, country risk, project financing.Joint Research/Field Studies: 2/3 focus region/sectors, eg. Development of cotton/textile industry in West Africa; experts from GNEXID members can pool-in expertise; partner with local financial institution, ITC, UNCTAD, to undertake the developmental project work.Tele-conference/video conference Calls: CEOs could have tele-conference calls, as a follow-up to the steering committee meeting to review/track status of action points; sharing of ideas/information about regional development in member countries as also potential areas of cooperationG-NEXID Web Portal: enhance the depth and news of the members with one nodal officer from each institution; members to actively provide monthly updatesLC Confirmation facility among members: facilitate bilateral among membersWeb telecast of key eventsStrengthen GNEXID Office: Expert (from office of presidential institution – now Bladex) could be in regular touch with GNEXID office. Expert could undertake periodic visits to meet officials from UNCTAD/ITC/UNIDO, etc which are based in Geneva, with a view to explore/ discuss potential areas for cooperation.
40 Before concluding, let me briefly highlight how Exim Bank helps Indian companies in their globalisation efforts though enhancing their competitiveness.For upgrading the technological competence, we offer finance towards import of technology, finance for product development and also for undertaking research and development. We also provide advisory services for location of joint venture partners as also structuring and facilitation of Joint VenturesThe Bank offers a wide range of lending and service programmes to assist Indian companies at all stages of the business cycle. Through import of technology, capital, goods and raw materials, the Bank facilitates the upgradation of technology and capabilities of Indian companies to enable them to enhance their competitiveness.The broad array of support programmes offered by the Bank for product development, production marketing, as also preshipment and postshipment, enables Indian companies to add value resulting in exports of products, capital goods, services. The Bank has also been instrumental in promoting ventures overseas in the fields of manufacturing, assembly, marketing and trading.
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