India poised to be biggest Ex-Im Bank market

July 25, 2011 at 7:00 am

Representatives of the Export-Import Bank of the United States were in New Delhi Tuesday to promote the purchase of U.S. goods and services by Indian buyers.

The bank took part in the U.S.-India Strategic Dialogue headed by Secretary of State Hillary Rodham Clinton in the Indian capital Tuesday.

Fred Hochberg, chairman and president of the Ex-Im Bank, is also leading a business development mission this week in India.

Hochberg announced $25 million in Ex-Im Bank loans for two new solar-energy projects and is promoting the bank’s financing products to support other deals in India.

“India is a key country for U.S. exports and an increasingly important market for Ex-Im Bank,” he said. “In the first nine months of fiscal year 2011, the bank has approved $1.4 billion in transactions on behalf of American exporters and their Indian buyers. This financing has increased our overall exposure in India to $5.5 billion. With this kind of growth in demand, we anticipate that next year India may very well become Ex-Im Bank’s biggest single market.”

A big part of the growing partnership relates to developing renewable energy in India. In fiscal year 2011 through June 30, the bank said it has approved $75 million in solar transactions in India, with another roughly $500 million in upcoming Indian solar deals.  Read more.

American Shipper, 7/19/2011


Entry filed under: American Shipper, India.

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