FOREIGN TRADE- Some Dos and Don ts for Exim Bank

FOREIGN TRADE Some Dos and Don'ts for Exim Bank (By a Special Correspondent) THE decision of the Government of India to set up an Export-Import Bank (EXIM bank), though belated, is a move lo he welcomed in the context of the need to lay a sound foundation for the country's export trade. A comprehensive concessional financing scheme has been in operation for a decade to take care tit the credit requirements of exports from the post-export contract stages, viz, pre-shipment and post-shipment stages. Hut a gap in the availability of export development finance and integrated credit and financial services for upgrading export production and marketing capabilities has been long felt. The need for setting up a specialised export bank had been mooted as early as 1970, but lack of inter-departmental consensus within the government held up the proposal so long.