ICICI Bank launches digital solutions for exporters

5 Jan 2023 , 11:02 AM

ICICI Bank has announced the launch of digital solutions for exporters which is a comprehensive set of banking and value-added services on a single platform.

In a first-of-its-kind initiative, the suite of solutions digitizes the entire export life-cycle from discovery of export markets, export finance, foreign exchange services to receipt of export incentives. The initiative aims to simplify the journey of exporters by decongesting the current time-intensive manual procedures, thereby significantly improving their operational efficiency.

The set of solutions also offer industry-first facilities including instant disbursal of Export Packing Credit (Insta EPC) and Trade APIs. Insta EPC provides export finance instantly, while Trade APIs enable smooth handling of export transactions directly from exporters’ ERP systems, thereby providing greater convenience.

Sumit Sanghai, Head- Large Clients Group, ICICI Bank said, “Over the years, exports have been an integral part of India’s growth. India’s overall exports in FY 2022 grew by 36% to over USD 670 billion from a year-ago period. It is estimated to touch USD 2 trillion by 2030.

ICICI Bank intends to support the growth of exporters with an all-encompassing suite of digital solutions. The set of solutions enables large, medium and emerging companies to undertake their export transactions online, anywhere and anytime. We believe that this initiative will bring in unmatched efficiency in the entire export lifecycle across industries and act as catalyst in their business growth.”

For feedback and suggestions, write to us at [e-mail]