India Exim Bank organised exporters seminar on ‘Energising Entrepreneurs in International Trade’

Ludhiana, May 7, 2022: With a view to promote and facilitate exports from the Ludhiana, Export-Import Bank of India (India Exim Bank), in collaboration with Federation of Industrial and Commercial organization, Ludhiana [FICO], Chamber of Industrial & Commercial Undertaking [CICU], Engineering Export Promotion Council [EEPC] & Wool & Woollens Export Promotion Council [WWEPC] organized a seminar titled “Energising Entrepreneurs in International Trade’’ on Saturday at Ludhiana. The seminar was attended by prominent exporting community based in Ludhiana, along with N. Ramesh (Deputy Managing Director, India Exim Bank), T.D.Sivakumar (General Manager, India Exim Bank) Virendra Pal Singh Mongia (Chandigarh Regional Head, India Exim Bank) and other senior officials of the Bank.  

In his welcome address, N.Ramesh (Deputy Managing Director, India Exim Bank), said that the global economy is witnessing an era of ‘polycrisis' of compounding crises in the economy, the environment, public health, and global security presenting all of us with difficult questions. Amidst all these uncertainties that are weighing global economic growth, trade has emerged as an important driver of recovery, both globally and in India. Indian companies are leveraging the growth in global import demand. India’s merchandise exports have surpassed the US$ 400 billion mark in merchandise exports for the first time. India Exim Bank has been constantly promoting India’s exports through various financing and developmental programs for over last 25 years.  

T.D.Sivakumar (General Manager, India Exim Bank) informed that India Exim Bank provided 360 degree support to export-oriented units by catering to long-term loan requirements that help exporters finance new projects, expand, modernize or purchase new equipment or carry out R&D; and cater to their working capital and overseas investment requirements. He informed that Bank is under process of taking various new initiatives for financing exporting needs of the companies viz Trade Assistance Programme (TAP), Factoring, Counter Trade etc. 

FICO was represented by Gurmeet Singh Kular its President, FIEO was represented by Sarvjit Singh who is the convener of the Punjab State Committee on exports, CICU was represented by its president Upkar Singh Ahuja, WWEPC was represented by Sumit Dhir, its Vice Chairman. 

During the meeting other speakers of FICO, FIEO, CICU and WWEPC informed regarding their active role in export promotion from the region and road map in achieving Government of India’s vision for becoming a 5 trillion economy with the support of India Exim Bank. They informed that the role of India Exim Bank will play a very important role in achieving this ambitious target.

The seminar was attended by more than 75 delegates, representing prominent export houses across the Punjab Region.