AGRUCULTURE EXPORTS NEED IMPETUS: ADSUL TELLS EXIM BANK

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The Union Minister of State (Banking & Insurance) Shri Anandrao V.Adsul has urged the Exim Bank of India to provide impetus to exports of agricultural products. Shri Adsul was interacting with the top management of Exim Bank in New Delhi today. The Minister felt that the CIS countries and the European Union offer a vast market and the Bank could tap it for export finance. He felt that the Exim Bank of India is at a disadvantage as compared to the Exim Banks of other countries such as USA, Japan, Canada, China as they are able to support their exporters with competitive long term credit packages at low rates of interest and support from their respective Governments. Observing that the support from the Government of India to Exim Bank is necessary to enable the bank to play a much larger role, Shri Adsul said that the issue would be looked into.

The Minister noted with satisfaction that Exim Bank’s recent initiatives in financing in agri exports and in providing fee based export-marketing services to Indian exporters have met with good response. Shri Adsul complimented the Bank for consistent profitable operations and a variety of products and services for the importers and exporters over the years.