Mumbai, Feb 12, 2015: Export-Import Bank of India (Exim Bank) signed a Memorandum of Cooperation (MOC) with All India Artisans and Craft workers Welfare Association (AIACA), a non-profit organization based in New Delhi, which works on increasing incomes and standard of living of crafts producers by enhancing market opportunities and providing various business development services to them. The purpose of the MOC is to identify areas and means of cooperation through which Indian grassroots/social enterprises could be supported to enable them reach international markets. Under the MOC, both Exim Bank and AIACA will share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory.
The MOC was signed by Mr. Debasish Mallick, Deputy Managing Director, Exim Bank and Ms. Madhura Dutta, Executive Director, AIACA at a function organized in Mumbai on February 11, 2015. Briefing the representatives from AIACA, Mr. Debasish Mallick highlighted that Exim Bank has been striving towards promotion of exports of products from rural grassroots business enterprises, by providing them with an array of services including those related to financial support, capacity building, and export marketing. The underlying objective is to augment sustainable employment opportunities and exports from the disadvantaged sections of rural India. Exim Bank has supported various grassroots organization/ enterprises across different parts of the country. Mr. Mallick emphasized that this partnership with AIACA was a part of Exim Bank’s outreach strategy to target a wider spectrum of grassroots organizations and would supplement the Bank’s efforts towards boosting exports from rural India.
Ms. Madhura Dutta, Executive Director of AIACA , pointed out that the synergy between the two institutions would improve the quality of business of social enterprises and make them more sustainable in the long run.