The Exim Bank is focusing on financing project exports and extending line of credit to promote exports, even though the export scenario in recent times is not very encouraging due to the recessionary conditions in the West, according to the Executive Director, N Shankar.
He was speaking here on Monday after participating in a seminar on export promotion jointly organised by the bank and the Federation of Indian Export Organisations (FIEO). He said India's share of the world exports is very low and therefore all efforts should be made for export promotion for a healthy foreign exchange position and to finance imports.
He said Exim Bank was also concentrating on facilitating Indian companies to float joint ventures in Cambodia, Laos, Myanmar and Vietnam and execute projects in those countries.
Daya Chandrahas, General Manager of Exim Bank, said the bank would also help SMEs to take up exports and it would adopt a cluster approach to achieve the objective.
K. Unnikrishnan of FIEO said the exports had registered negative growth during the past few years and the position of Andhra Pradesh was no better. Exports from the State were stagnating.
He said FIEO had identified 100 products being exported from the country, of which 35 were competitive. The organisation would focus on promoting the export of these products. Further, it would also identify 10-15 exportworthy products from each state and help the state in exporting them.