Things to keep in mind while choosing your AD Bank for export-import transactions

Effective participation in international trade is intrinsically linked to the economic development of any country and more so for developing nations. It not only generates employment opportunities but also provides a wide pool of goods and services for customers to choose from. As per the Department of Commerce, Ministry of Commerce and Industry, the overall exports (merchandise and services combined) in June 2022 are estimated to be USD 64.91 billion, exhibiting a positive growth of 22.95% over ..

The Indian government is proactively taking numerous steps to boost exports and increase India’s share in global trade to 10% and taking the country’s share of exports in GDP to about 25%. India’s total exports to GDP was 18.7% in 2020-21. In fact, India’s exports are expected to gain faster momentum on the back of investments under the production-linked incentive (PLI) scheme and RODTEP schemes of the Government. But in order to facilitate cross-border trade, it is crucial for businesses involv ..

Involvement of banks in facilitation of trade is very crucial in terms of meeting a range of short-term to medium-term trade financing requirements, streamlining of the whole export – import process and reduction of financial risks. Therefore, the decision to choose an AD Bank has to be made post evaluation of certain important parameters.

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