27 March 2014
Export-Import Bank of India is the premier export finance institution of the country, set up in 1982 under the Export-Import Bank of India Act 1981. Government of India launched the institution with a mandate to not just enhance exports from India, but also to integrate the country’s foreign trade and investment with the overall economic growth. It is the principal financial institution in the country for coordinating the working of institutions engaged in financing exports and imports. EXIM Bank is fully owned by the Government of India and the Bank’s authorized and paid up capital are ` 10,000 Crore and 2,300 Crore respectively. EXIM Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment. Commencing operations as a vendor of export credit EXIM Bank of India has evolved into an institution that plays a major role in partnering Indian industries, particularly the Small and Medium Enterprises through a wide range of products and services offered at all stages of the business cycle, starting from import of technology and export product development to export production, export marketing, pre-shipment and post-shipment and overseas investment. India's total merchandise trade has increased over three-fold from $252bn in 2006 to $794 in 2012 - both exports and imports have trebled during this period according to the Export-Import Bank of India (EXIM Bank). The bank is the premier export finance institution of the country and was set up for the purpose of financing, facilitating, and promoting foreign trade of India.