India Exim Finserve Partners with VoloFin to Boost SME Exporters
India Exim Finserve IFSC Pvt Ltd, a subsidiary of the Export-Import Bank of India, has teamed up with VoloFin to offer financial solutions for Indian exporters. This partnership aims to fill trade finance gaps, especially for small and medium-sized enterprises (SMEs) that are vital to India’s economy. The collaboration will promote open-account trade between India and global partners.
New India Assurance has joined as the credit insurance partner, with reinsurance support from Atradius, a leading credit insurer. This initiative is supported by the first bank policy from GIFT City, highlighting its role in expanding India’s global trade.
Key Figures Speak
Hirva Mamtora, Managing Director & CEO of India Exim Finserve, expressed enthusiasm about the partnership with VoloFin, which will help reach SME exporters and importers. She acknowledged New India Assurance’s support in providing a unique trade finance insurance policy from GIFT City.
Rita Mishra, Chief Regional Manager at New India Assurance – GIFT City, celebrated the milestone of closing the first trade credit insurance policy within GIFT City. She also appreciated Atradius’s support and looked forward to a lasting collaboration with India Exim Finserve.
About the Companies
VoloFin is a fintech company specializing in factoring and supply chain financing, with operations in Singapore, India, and the USA. India Exim Finserve, located in GIFT City, offers export factoring services to Indian exporters. New India Assurance, India’s largest general insurance company, operates in 25 countries, while Atradius is a global leader in credit insurance, present in over 50 countries.
Doubts Revealed
India Exim Finserve -: India Exim Finserve IFSC Pvt Ltd is a company that helps Indian businesses, especially those that sell goods to other countries, by providing them with financial services. It is part of the Export-Import Bank of India, which supports India’s international trade.
VoloFin -: VoloFin is a company that offers financial services, like loans and credit, to businesses. They are working with India Exim Finserve to help Indian businesses that export goods to other countries.
SME -: SME stands for Small and Medium-sized Enterprises. These are businesses that are not very large but play a crucial role in the economy by providing jobs and contributing to exports.
New India Assurance -: New India Assurance is a big insurance company in India. They are helping by providing credit insurance, which protects businesses from losing money if their customers don’t pay.
Atradius -: Atradius is a company that provides reinsurance, which means they help insurance companies like New India Assurance by sharing the risk of insuring businesses.
GIFT City -: GIFT City stands for Gujarat International Finance Tec-City. It is a special area in India designed to be a hub for financial services and international business.