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EXIM Bank provided Rs 650 crore to 49 MSMEs including MedTech

Export-Import (EXIM) Bank of India, has provided Rs 650 crore (fund and non-fund based) to 49 micro, small & medium enterprises (MSMEs) so far under Ubharte Sitaare Programme (USP).

This programme was launched two years ago to empower the exporters from the MSME sector.

An identified company should have potential advantages by way of technology, product or process under this programme.

It can be supported even if it is currently underperforming or may be unable to tap its latent potential to grow.

Such challenges are diagnosed under the USP and provides structured support and technical assistance.

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,” said 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.”

“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,” Bangari added. KNN India

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