EXIM Bank provides Rs 650 crore to 49 MSMEs
The bank under the Ubharte Sitaare Programme is providing the fund for the growth of innovative export-oriented companies
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Hyderabad: Export-Import (EXIM) Bank of India, a premier export finance institution of the country, has so far supported 49 MSMEs (micro, small & medium enterprises) across the country by providing Rs 650 crore(fund and non-fund based) under Ubharte Sitaare Programme (USP). This programme was launched two years ago to empower the exporters from the MSME sector.
Under this programme, an identified company should have potential advantages by way of technology, product or process. It can be supported even if it is currently underperforming or may be unable to tap its latent potential to grow. The USP diagnoses such challenges and provides structured support and technical assistance.
Supporting the growth of innovative export-oriented companies, the USP fund is a mix of both debt and equity investments. The bank is nurturing the future export champions from the MSME segment. It identifies companies at forefront of innovation with cutting-edge technologies in areas like Medtech, Cleantech, Artificial Intelligence (AI), internet of things (IoT), Industry 4.0, and drones.
“The bank is interested in supporting healthcare innovators and companies promoting environmental sustainability. In Telangana, we have mainly focused on precision engineering works, pharmaceuticals, medical devices and healthcare solutions. The MSMEs from these sectors have seen tremendous growth opportunities in the recent past,” says Harsha Bangari, MD of EXIM Bank.
She further said, “In Andhra Pradesh, we have seen more opportunities in the sectors like agriculture & allied activities, textiles and renewable energy. The bank is empowering the MSMEs through multi-faceted support. We have played a catalytic role in building ‘Brand India’ by partnering with the MSMEs and enhancing their global footprint.”
The bank has made significant strides in contributing towards economic development through our Grassroots Initiative and Development programme. “Our aim is to strengthen the export capabilities of our rural enterprises and ensure all-round economic development and to enhance the purchasing power from the bottom of the pyramid,” Harsha added.
