What is the full form of EXIM(i) EXIM: Export-Import Bank of IndiaEXIM stands for the Export-Import Bank of India. India's government founded the Export-Import Bank of India (Exim Bank) in 1982 with the intention of facilitating, advancing, and supporting the country's foreign commerce, in accordance with the Export-Import Bank of India Act (1981). Acting as the primary financial hub for the country, it facilitates the coordination of activities among entities that provide funding for both imports and exports. Exim Bank's full shares are owned by the Indian government. In order to help export-oriented Indian businesses build new production facilities, expand, improve, or rebuild existing ones, or buy production equipment or technology, the Bank offers term loans denominated in Indian rupees or other foreign currencies. Particular emphasis is placed by the Bank on providing Lines of Credit (LOCs) to regional commercial banks, governments, and international organizations. Exim Bank of IndiaA specialist financial organization in India, the Export-Import Bank of India (Exim Bank) was founded in 1982. Financing, enabling, and promoting India's foreign commerce is the Bank's main goal. Operating as a statutory company, it is owned by the Government of India. The Export-Import Bank of India Act, 1981, regulates its activities. To assist Indian importers and exporters, Exim Bank offers a comprehensive array of financial services. These services include international investment finance, pre-shipment, post-shipment, and export credit. Additionally, the Bank provides a variety of consulting and support services to Indian companies wishing to grow internationally. Exim Bank has a significant position in the global market in addition to its home activities. Notable Purposes of EXIM BanksThere are several duties and goals of the EXIM Bank. It mainly operates:
(ii) EXIM: Export and ImportForeign trade involves the import and export of goods. Imports, exports, and the foreign trade balance are all included in the term "foreign trade", which is reported differently for commodities and services. Summary figures for goods and services are shown for total imports, total exports, and the balance of international trade. The sale of products and services from one's native country to another is referred to as exporting. On the other hand, importing is the act of buying goods from outside one's nation and bringing them back. Additionally, it is split into two categories, which can be both direct and indirect. Every country has certain advantages, capabilities, and resources. For instance, some countries have abundant natural resources, such as precious metals and minerals, lumber, fertile land, petroleum products, and timber, whereas other countries lack similar resources. So, the EXIM enables a nation to exchange goods with others on the international level. Benefits of Exporting and Importing
Limitations of Export and Import
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