ENA MSME 2024-10-09 16:00:28 <p><span style="font-size:14px"><strong>New Delhi, Oct 9 (KNN)</strong> India Exim Finserve IFSC Pvt Ltd, a subsidiary of the Export-Import Bank of India, has formed a strategic partnership with VoloFin to enhance receivables finance solutions for Indian exporters.</span></p> <p><span style="font-size:14px">This collaboration aims to address critical trade finance gaps, particularly for small and medium-sized enterprise (SME) exporters, who are vital to India's economic growth.</span></p> <p><span style="font-size:14px">The partnership will focus on facilitating open-account trade between India and its global partners. New India Assurance has joined as the credit insurance partner, with reinsurance support from Atradius, a major global credit insurer.</span></p> <p><span style="font-size:14px">This venture is supported by the first bank policy from GIFT City, highlighting the financial hub's importance in expanding India's international trade reach.</span></p> <p><span style="font-size:14px">Hirva Mamtora, Managing Director &amp; CEO, India Exim Finserve, emphasised the significance of the partnership, stating that VoloFin's role as a business facilitator will help them connect with SME exporters and importers through its existing network.</span></p> <p><span style="font-size:14px">Mamtora also acknowledged the support from New India Assurance in providing a novel trade finance insurance policy from GIFT City, which is expected to boost exports from India, especially in the SME sector.</span></p> <p><span style="font-size:14px">Rita Mishra, Chief Regional Manager, New India Assurance - GIFT City, expressed enthusiasm about closing the first trade credit insurance policy within GIFT City, marking a significant milestone for the company.</span></p> <p><span style="font-size:14px">Mishra also recognised the support of their reinsurer, Atradius, and expressed confidence in the long-term potential of the collaboration with India Exim Finserve.</span></p> <p><span style="font-size:14px">VoloFin, a fintech company specialising in factoring and supply chain financing, operates globally with a presence in Singapore, India, and the USA.</span></p> <p><span style="font-size:14px">The company has established successful partnerships with leading financial institutions to provide comprehensive financial solutions.</span></p> <p><span style="font-size:14px">India Exim Finserve IFSC Pvt Ltd, based in GIFT City, was established to offer non-recourse export factoring services to Indian exporters, playing a crucial role in facilitating the country's international trade.</span></p> <p><span style="font-size:14px">New India Assurance, India's largest general insurance company, operates in 25 countries and offers reinsurance and direct trade credit insurance through its GIFT City unit.</span></p> <p><span style="font-size:14px">Atradius, a global leader in credit insurance and risk management, operates in over 50 countries, providing businesses worldwide with protection against the risks associated with selling goods on credit.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39544 https://knnindia.co.in/news/newsdetails/msme/india-exim-finserve-partners-with-volofin-for-sme-trade-finance-solutions 2024-10-09 16:00:28 knnindia.co.in