What is trade emerge? ICICI Bank launches online platform for Indian exporters and importers

Trade Emerge: ICICI Bank has announced the launch of an online platform ‘Trade Emerge’ for exporters and importers across India.

Trade Emerge platform will offer comprehensive digital banking and value-added services to the companies engaged in export and import in India.

It is a first-of-its-kind initiative that will bring together end-to-end digital banking and value-added services on a single platform.

Objective  

Trade Emerge aims to increase the efficiency and productivity of exporters and importers by cutting down physical procedures that are time taking. 

Who will benefit from the Trade Emerge initiative?

All exporters and importers can benefit from the Trade Emerge platform. They do not have to be customers of ICICI Bank to benefit from the initiative.

Trade Emerge Platform: List of Digital Banking Services offered

-Current / saving account offerings

-Comprehensive trade services including bank guarantee, letter of credit and Trade Credit etc.

-Digital solutions like Corporate Internet Banking and Trade Online

-State-of-the-art foreign exchange solutions

-Payment & collection solutions

-Credit cards

Trade Emerge Platform: List of value-added services offered

-Incorporation of trade business

-Access to a global trade database that hosts almost a million buyers and sellers across 181 countries

-Verification reports of potential customers through reputed credit bureaus

-Logistics solutions for shipment booking along with last-mile tracking

-Insurance services including marine insurance coverage

-These services will be offered through partners having expertise in their respective fields.

ICICI Bank Executive Director Vishakha Mulye said on the occasion, "Over the years, India has emerged a key player in global trade. From April to October 2021, our overall exports and imports are estimated to be nearly USD 780 billion, recording a rapid growth over the same period last year."

"Typically, global trade is time-consuming, paper-intensive and process-heavy and requires knowledge of rules and regulations. This platform will make exports and imports hassle-free,” Mulye added.