Export Import Bank launches duty calculator tool on the EXIM Mitra portal
The Export-Import Bank of India (Exim Bank), in its attempt to fulfill twin objectives, namely providing information on financial products available to facilitate exports, and delivering trade related information, has launched the “EXIM Mitra” portal. The portal seeks to provide information on Trade Finance and Export Credit Insurance options besides Export-import intelligence and a helpline in the area of Trade Finance and Export Credit Insurance.
EXIM Mitra provides preliminary help to a large number of exporters and importers who may not have access to an array of crucial trade related information under one single platform. EXIM Mitra acts as a gateway to identify potential global markets and products, understand product standards across the globe, estimate freight cost, introduce exporters and importers to the various credit and insurance facilities available, identify agencies providing handholding, apart from a host of other value added services.
This portal is expected to evolve towards providing more services. Towards this end, the Bank has tied up with M/s Pitney Bowes Inc. to bring to users the ease of calculating duties and taxes besides Country Guides for over 140 countries. The tools facilitate product classification, import duty tax calculation, plus restrictions and compliance management.
The endeavour of Exim Bank is aimed to benefit firms, especially SMEs, to make sound business decisions during their expeditions overseas.