New Delhi, June 24 -- Union Finance Minister Nirmala Sitharaman virtually inaugurated Exim Bank's new offices in Lucknow, Indore, and Sao Paulo (Brazil) on Tuesday. The centres aim to support established and aspiring exporters and expand India's access to key global markets.
She also unveiled a five-pronged strategy to accelerate India's export-led growth, positioning it as a key driver of the government's Viksit Bharat vision.
Speaking at the Exim Bank's Trade Conclave in New Delhi, the minister highlighted a series of systemic reforms and institutional supports that are helping Indian exporters-infrastructure upgrades, targeted support for MSMEs, expanding access to trade finance, cluster-based export development, and proactive foreign trade negotiations, including a FTA with the US which, she noted, is nearing finalisation. "From transport logistics to trade finance, India is investing heavily in building an ecosystem that enables businesses to compete globally," she said. A standout initiative featured was Exim Bank's 'Ubharte Sitaare' Programme, which has extended Rs 1,522 crore in support to 85 identified future champions through debt and equity funding. "This includes financial and technical assistance to incubators at top institutes like IIT Bombay, IIM Ahmedabad, and IISc Bangalore to nurture early-stage startups," Sitharaman added.
Since its launch in 2022, Exim Bank's Trade Assistance Programme (TAP) has facilitated over 1,100 export transactions across 51 countries through partnerships with more than 100 international banks. Exim Bank's MD, Harsha Bangari, noted that the bank has facilitated export growth in over 60 cities across 20 states, with MSMEs accounting for one-third of its TAP beneficiaries.
"Our support has helped exporters upgrade capabilities and enter value-added, high-complexity markets," she said. The conclave also saw the release of three Exim Bank research publications focused on critical minerals, defence exports, and textile trade under the ASEAN-India FTA, offering strategic insights for enhancing sectoral competitiveness.
Further bolstering its global footprint, Minister of State for Finance, Pankaj Chaudhary, underlined the government's initiatives to boost credit flow, particularly for MSMEs. Meanwhile, Financial Services Secretary M. Nagaraju reiterated that India's financial ecosystem is robust and ready to support long-term economic growth.
Published by HT Digital Content Services with permission from Millennium Post.