Addressing the members of Bharat Chamber of Commerce here recently, Mr Rajeev Bhargava, head of Trade Services, said that HSBC is looking at new ways of financing export-import trade in India, in keeping with the requirements of its customers. The bank is among the better-known players in the foreign trade financing market.
Mr Bhargava said HSBC already provides critical services to the trading community. These range from the tracking of export receivables to the handling of advance remittances. It also takes care of functions such as tracking of documents in association with DHL.
India has recently seen a rise in external trade. In the first quarter 2004, exports have increased substantially higher than in the corresponding period of the previous year.
Export-import transactions with Asian countries are particularly moving up.
Source: Asia Intelligence Wire
