Project exports are a measure of a nation’s economic development. Export-Import Bank of India (Exim Bank) organized a “Stakeholders Seminar on Project Exports” on 16th October 2014 in Mumbai, with the objective to develop a concrete road-map to give a quantum boost to India’s Project Exports in order to give a major fillip to manufactured exports and employment generation in India.
Exim Bank has been playing the crucial role of a coordinator and facilitator for the promotion of Project Exports covering overseas industrial turnkey projects, civil construction contracts, supplies as well as technical and consultancy service contracts out of India. Exim Bank, with its strong belief in the capabilities of Indian exporters’ technical competence and capacity to control costs, has been constantly endeavouring to provide further impetus to Indian Project Exports by constantly devising innovative financing programmes and products.
Exim Bank’s flagship programmes such as Lines of Credit and Buyers’ Creditare designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.
Exim Bank, in collaboration with the African Development Bank, is also setting up a Project Development Company (PDC) in Africa to identify and develop infrastructure projects with the objective of providing the Indian private sector an opportunity to invest in and implement such projects in Africa. The PDC is expected to provide specialist project development expertise to take the infrastructure project from concept to commissioning. The PDC shall focus on infrastructure projects that have specific strategic interest to India. The PDC is expected to provide an entire gamut of project development expertise to identified projects.
As on September 30, 2014, 374 project export contracts valued Rs. 161,083 crore (approx. USD 26.85 billion), supported by the Bank, were under execution, in 78 countries across Asia, Africa and CIS by 112 Indian companies. These projects have been supported by Exim Bank through mix of funded and non-funded facilities.
The Seminar was addressed by Shri Yaduvendra Mathur, IAS, Chairman & Managing Director, Exim Bank and Shri N. Shankar, Chairman-cum-Managing Director, ECGC Ltd., and included a Panel Discussion moderated by Shri David Rasquinha, Deputy Managing Director, Exim Bank, at which key industry leaders like Shri Sanjay Kirloskar, Chairman &Managing Director, Kirloskar Brothers Ltd., Shri S. Kuppuswamy, Advisor, Group Finance & Special Projects, Shapoorji Pallonji & Co. Pvt. Ltd., Shri Ramesh Chandak, Managing Director & CEO, KEC International Ltd., Shri Rajesh Sharma, Chairman & Managing Director, Ion Exchange (India) Ltd., Rear Admiral (Retd.) K.N. Vaidyanathan, Head of Defence Shipbuilding, Larsen &Toubro Ltd. and Shri Manish Mohnot, Executive Director, Kalpataru PowerTransmission Ltd.,shared their views on the way forward, in particular, on how to ensure a level playing field for Indian project exporters. The Seminar was attended by nearly 100 participants from close to 60 leading Indian project exporting companies.
Speaking on the occasion, Shri Mathur noted that this Seminar has been organised with the objective to develop a concrete road-map to give a quantum boost to India’s Project Exports in order to give a major fillip to manufactured exports and employment generation in India.Shri Mathur further mentioned that Exim Bank has a strong belief in the capabilities of the Indian Project Exporters’ technical competence and capacity to control costs, and the Bank endeavours to provide further impetus to Indian Project Exports by constantly devising innovative financing programmes and products.
Shri Mathur further mentioned that Exim Bank aims to boost Indian Project Exports from the current levels of USD 27 billion to over USD 50 billion in the next 5 years through its innovative initiatives and by leveraging the increasing opportunities in Asia, and Africa.He noted that GOI support would be critical to achieve this target for India. Exim Bank proposes to organise a series of such Stakeholders’ Seminars to seek industry feedback for creating a level playing field for Indian project exporters.