Best Bank For Import Export Business In India

Harsh Dhawan

Product selection

Do you want to create your own export company? This site will undoubtedly assist you in determining which things are profitable to export from India in order to earn significant foreign currency gains. Below is a list of the greatest products to export from India:

India Best Bank For Import Export Business In India

1. HDFC BANK

The export services provided by HDFC Bank are exactly what your company requires for a smooth and trouble-free export experience. HDFC Bank MyBusiness offers services at low rates to make commerce stress-free. Furthermore, for speedier settlements, you can take advantage of low-interest rates on remittances in up to 18 foreign currencies.

Businesses with whom you do business can now deposit their import payments directly into your account. Don’t worry about your documents; our specialised trade finance department works with the fastest courier companies to get them to you as quickly as possible. You may transact from anywhere in the world, receive advance payments, and quickly collect your export bills. Ab har biz hoga kaamyab .

2. Kotak Mahindra Bank

The Kotak Global Trade Account is a one-stop shop for all of your trade and FX needs around the world. Our Global Trade Account gives you the competitive advantage you need to flourish in today’s difficult cross-border business environment.

Kotak GTA features Relationship Manager for Current Accounts
A vast network of correspondent banking links exists all across the world.

Complimentary The Kotak Multi-Currency World Travel Card is a multi-currency travel card (KWTC)
Kotak Global Trade Account Benefits Transparent and Competitive Service Fees
Trade paperwork is processed smoothly and quickly.
Inwards Remittance Alerts for a smooth transfer of cash

Value-added services: Every company requires a set of services that serve as its foundation. Take advantage of these services at discounted Kotak Bank rates:
The following list is merely illustrative and is dependent on the availability of the relevant service providers:

Services in Taxation
Business Workplace Solutions Enterprise Solutions
Solutions for Marketing
Solutions for digital media
Certificates and digital signatures
Services related to travel

Kotak GTA features Relationship Manager for Current Accounts
A vast network of correspondent banking links exists all across the world.

3. AXIS BANK

Axis Bank has risen to become one of the major banks in the provision of trade and forex services in recent years. The Trade & Forex Services offered by Axis Bank cover a wide range of products for both import and export. Trade and financial services are made possible by Axis Bank’s devoted specialists, quick document processing, and efficient technology.

Documentary Credits (DCs), Import Bill Collection Services, Direct Import Bills, Advance against Imports, and Buyer’s Credit / Supplier Credit are some of the import services available. Export Bill Collection Services, Pre-Shipment Credit / Post-Shipment Credit, Export LC Advising, and Export LC Confirmation are among the export services available.

4. ICICI BANK

For all your domestic, export, and import transactions, ICICI Bank offers a customised One Globe Trade Account.
One Globe Trade Account Highlights
Suitable for cross-border or domestic business transactions, with the option of maintaining either Monthly average balance (MAB) or Monthly throughput (MTP) depending on the version 3 varieties of One Globe Trade Account Trade Basic (MTP 5,000 USD equivalent or 50,000 MAB).

Invest in gold (MTP 20,000 USD equivalent or 900,000 MAB)
Platinum (MTP 80,000 USD equivalent or 5,00,000 MAB) is available for trade.
At the time of account opening, you’ll get preferential pricing on Cash Management Solutions, Locker Charges, Auto Loans, and Personal Accident Insurance.
Every One Globe Trade Account has a dedicated Relationship Manager.
Free inbound remittances and E-BRC issuance are provided through digital solutions such as Trade Online, which provides an online platform for conducting trade transactions.

5. EXIM BANK

Exim Bank of India is a rare example of an institution whose concept and need for such an institution was argued for more than two decades before it was finally established in 1982. Significant developments in the industrial and commerce landscape occurred in the two decades preceding the founding of Exim Bank. Primary commodities and traditional manufacturing such as jute and cotton textiles dominated Indian exports throughout the 1950s and early 1960s.

Because export development chances were limited and structural restrictions (such as inadequate infrastructure) to export growth, the majority position was that in India’s case, an increase in domestic demand alone could realistically serve as the engine for economic growth. The manufacturing sector’s ideology was to foster industrialisation through import substitution. As a result, the export sector has been neglected, accounting for only a small portion of India’s GDP.