VoloFin and India Exim Bank Partner to Bridge SME Trade Finance Gaps

India Exim Finserve IFSC Pvt Ltd, a subsidiary of the Export-Import Bank of India (India Exim Bank), has teamed up with VoloFin to deliver comprehensive receivables finance solutions to Indian exporters, particularly targeting underserved SMEs. This collaboration addresses critical trade finance gaps and facilitates open account trade between India and its global partners. New India Assurance, supported by global reinsurer Atradius, has introduced the first-of-its-kind trade finance insurance policy from GIFT City as part of the initiative.

Hirva Mamtora, MD & CEO of India Exim Finserve, remarked, "Our mission is to drive India’s economic growth by supporting Indian exporters, especially SMEs, who are key to the country's growth. Partnering with VoloFin enables us to reach SME exporters through their extensive network, while New India Assurance’s trade finance insurance policy from GIFT City expands our factoring outreach, boosting exports from India’s SME sector."

Roshan Shah, Co-Founder and CEO of VoloFin, emphasized, "This partnership aligns perfectly with our mission to revolutionize trade finance and empower SMEs. Together, we will enable exporters to expand their businesses and geographical reach, bridging the trade finance gap that often restricts small businesses' growth."

Rita Mishra, Chief Regional Manager at New India Assurance – GIFT City, celebrated the milestone, stating, "We are proud to launch the first trade credit insurance policy within GIFT City, India. With support from our reinsurer, Atradius, this initiative marks a significant achievement, and we look forward to a long-lasting collaboration with India Exim Finserve."

Arun Soundarajan, Country Head and CEO of Atradius India, added, "We are delighted to be part of this collaborative effort, providing crucial support to Indian exporters and contributing to the nation’s economic progress with this milestone policy."

The Impact of the Partnership on India’s Trade Ecosystem

This strategic collaboration between VoloFin, India Exim Bank, and New India Assurance is poised to significantly enhance India’s trade ecosystem, particularly for SMEs. By addressing long-standing trade finance gaps, the partnership provides much-needed financial support to small exporters, enabling them to access global markets more effectively.

The introduction of the first trade finance insurance policy from GIFT City further mitigates risks, ensuring exporters can operate with greater confidence. In the long term, this initiative strengthens India’s export capabilities, promotes the growth of SMEs, and contributes to the overall resilience and expansion of the country’s international trade landscape.