Exim Bank and SME Chamber of India have signed Memorandum of Cooperation for promotion of exports.
They will also focus on how to channelise export finance, identify export potential market, carry on research and survey on various products in demand in different countries and to provide training and education on market, export formalities as well as to resolve issues.
Exim Bank Chairman and Managing Director TCA Ranganathan and Chamber President Chandrakant Salunkhe signed the memorandum on Thursday.
Salunkhe pointed out that this partnership will be useful to provide support and assistance to small and medium entrepreneurs (SMEs) from manufacturing sector to identify opportunities for technology transfer, joint ventures, new project exports, acquiring new technologies and to understand new market with quality and competitiveness.
Ranganathan said that the SMEs can take advantage of foreign exchange loans at low rate of interest and connect with potential market through Exim Bank’s regional branches in various countries. Exim Bank has product-wise and country-wise market surveys which will be useful for SMEs to enter into specific market with knowledge of demand and suppliers, price, quality and competition.
Besides guiding and supporting SMEs for export promotion, Exim Bank will also help them in the import of capital goods for production of quality products for domestic and international markets, he added.