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Australian SME exporters can now save more on their logistics and supply chain management costs while receiving financial assistance from the State Bank of India (SBI). This is the good news from the State Bank of India (SBI) as it enters a new agreement with Australia's Export Finance and Insurance Corporation (EFIC).


Constrained bank lending slows down export activities to India


At present, India is one of the most important export markets for Australian SME exporters. However, the emerging market turmoil caused Australian banks to cut their lending to India by as much as 40% in the past years.


Alex Fernandez, EFIC’s head of Alliance & Product Wholesale Trevon Wesco Jersey , SME, said,


'With a recent tightening in domestic lending to India, many Australian SME businesses are struggling to access finance to fund their overseas activities in the country.



'This new collaboration will provide support to SME exporters operating in India Wholesale Chuma Edoga Jersey , allowing them to take advantage of exporting opportunities and grow their business overseas.'



India's response to export funding constraints experienced by Australian SME exporters


The agreement between EFIC and the SBI makes it easier for Australian SME exporters with interests in the Indian market to secure the financial support they need to export to and operate. It provides a range of financial solutions helping Australian SME exporters to succeed with their business engagement in India.


Part of the financial solution provided by SBI includes:

Loans Guarantees Bonds Insurance products


With this offer of financial support, SBI is optimistic more SME exporters will proceed with their plans to engage business in India.