UK Government and FICCI host webinar on “UK Export Finance and its services to Indian Companies”

The Department for International Trade (DIT), United Kingdom and UK Export Finance (UKEF) in collaboration with FICCI – West Bengal State Council organised a Webinar on “UK Export Finance (UKEF) and its services to Indian Companies” on Thursday, July 9, 2020.

The objective of the webinar was to discuss on how Indian companies may avail finance from UKEF, world’s oldest Export Credit Agency. UKEF provides competitive and long term financing options for buyers of UK goods and services through guarantees and direct lending.

Mr. Philip Sydenham, Head of Financial Services, Infrastructure, Creative and Sports sectors in DIT, India who was one of the speakers at the online seminar said: “The UK Government is pleased to be partnering FICCI on this session. UK businesses have been long-term partners in West Bengal and beyond and we look forward to many more partnerships in the future. Finance is an important aspect of this, combining the City of London’s world-leading expertise with the many opportunities in India.”

Mr. Rahul Tabhane, Country Head – India, UKEF made a presentation at the webinar and spoke about UKEF’s financing support for global projects involving UK exports. He also highlighted about UKEF’s credit appetite of over GBP 4 Billion for India and readiness to support Indian companies by providing attractive and innovative financing options including long term Buyers Credit, Line of Credit, Local Currency Financing, Project Financing and Debt Capital Market take-out.

Mr. Rudra Chatterjee, Chairman, FICCI – West Bengal State Council said: “With the major outbreak of Covid-19 global pandemic, the economy is witnessing a triple shock from the supply, demand and financial sector side. Capital remains to be the key challenge for all companies during the pandemic days. It thus becomes imperative to explore new opportunities for accessing funds for the Indian industry.”

The Webinar was attended by industry members from sectors like Infrastructure (Ports, Airports, Transportation, and Renewable Energy), Chemicals & Petrochemicals, Healthcare, IT, Foundry and Forging, Electric Vehicle, Manufacturing Industries, MSME and Banking.

The webinar was streamed LIVE on FICCI India’s YouTube channel:

About UK Export Finance (UKEF):

•           UK Export Finance (UKEF) is a Government of UK Department, which is the world’s oldest Export Credit Agency with over 100 years’ experience in helping overseas buyers.

•           UKEF helps overseas companies to procure capital goods or services from the UK at competitive terms of finance. UKEF provides overseas project sponsors attractive long-term financing that makes sourcing from the UK more competitive.

•           UKEF has already supported projects around the world such as defence equipment in Qatar, bridges in Sri Lanka, aircraft in China and petrochemicals in India.

•           UKEF works with UK exporters and their overseas buyers to find the right support, and offers attractive financing options, including repayment terms of 2-10 years and up to 18 in some sectors, such as renewable energy; flexible UK content requirements for projects supported; capital markets refinancing; and Guarantees in Indian Rupees.

UK Export Finance (UKEF) can help in:

  • Procuring from UK suppliers that offer quality and innovation by providing attractive financing terms.
  • Borrowing at competitive interest rates from banks with the benefit of a strong guarantee backed by the UK Government.
  • Borrowing directly from the UK Government itself at competitive, fixed interest rates.
  •       Maintaining flexibility, with finance that can also be used to buy local supplies or supplies from other countries, alongside UK supplies.