Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

ICICI Bank launches 'Trade Emerge', an online platform for Indian exporters and importers

Posted On: 2021-11-23 12:18:04 (Time Zone: IST)

ICICI Bank today announced the launch of an online platform, 'Trade Emerge', to offer comprehensive digital banking as well as value-added services to exporters and importers across India. The first-of-its-kind initiative makes cross border trade hassle-free, expeditious and convenient, as it offers an array of services in one place, which eliminates the need for companies to coordinate with multiple touchpoints.

The list of banking services includes current / saving account offerings, comprehensive trade services (Letter of Credit / Bank Guarantee / Trade Credit etc.), digital solutions like Corporate Internet Banking and Trade Online, state-of-the-art foreign exchange solutions, payment & collection solutions and credit cards. The list of value-added services includes incorporation of trade business, access to global trade database of nearly 15 million buyers and sellers across 181 countries, verification reports of potential customers through reputed credit bureaus, logistics solutions for shipment booking and last mile tracking, and insurance services like marine insurance all available online through a single window, and many more. These services are offered through partners having expertise in their respective fields.

Speaking on the initiative, Ms. Vishakha Mulye, Executive Director, ICICI Bank said, "Over the years, India has emerged as a key player in the global export-import space with a consistent growth history. Various factors-- the country's young demography, strong consumer demand, healthy production and supportive government initiatives - have contributed to the growth. During April to October 2021, our overall exports (merchandise and services combined) and imports are estimated to be nearly USD 780 billion, recording a rapid growth over the same period last year*.

The 'Trade Emerge' portal offers a comprehensive digital suite of various banking and value-added services to the companies engaged in export and import. The objective of this initiative is to increase efficiency and productivity of exporters and importers decongesting the time-taking physical procedures. This is a part of the Bank's endeavour to offer customised digital banking as well as value-added solutions to corporates, and their entire ecosystem through various initiatives. The benefit of this platform is available to all exporters and importers, even if they are not customers of ICICI Bank."

The key 'value-added' offerings are:

  • Incorporation services: It helps companies looking to set up an export-import business in India to obtain key registrations and licenses such as trade license, Importer Exporter Code (IEC), GST registration and Registration Cum Membership Certificate issued by export promotion organisations or Commodity Boards of India. This digital facility is provided in association with 'India Filings', an online business and tax compliance platform. It also helps traders to avail certain export benefits under the Foreign Trade Policy of the country.
  • Information services: Businesses in the export and import sector can access relevant information like updates/notifications/guidelines issued by domestic and international regulatory and trade bodies, customs processes and policies, tariff related information etc. on the 'Trade Emerge' platform. This information is provided in association with Federation of Indian Export Organisations (FIEO), the apex trade promotion council in India.
  • Access to global data base of partners from 181 countries: Typically, companies in the export and import business spend a lot of time and effort to find out suitable customers abroad. For doing so, they have to examine a lot of information such as past business records and credibility of potential customers. Through the 'Market Intelligence' section of the portal, exporters and importers get access to a global trade database of nearly 15 million buyers and sellers across 181 countries. It contains important data points such as transaction history, business performance etc. of the parties, which helps them select customers efficiently. The Bank is offering this service in association with 'The Dollar Business', a leading global export - import data and analytics platform.
  • Verify potential partners: After selecting a potential customer, they can also verify its credibility through business information reports provided by CRIF, a leading credit information company and Dun & Bradstreet, a leading global provider of business decisioning data and analytics.
  • End-to-end digital logistics solutions: Post finalisation of the partner, an exporter or importer can avail logistics support for shipment related needs. They get multiple shipment options at flexible prices on 'Trade Emerge' and option of booking freight space instantly as against the previous time-consuming practice of contacting multiple agencies. The platform also enables last mile tracking for the users thereby making the entire process seamless and cost-effective. This digital logistics support is provided in association with Shipsy and Shipwaves, AI powered logistics management platforms.
  • Insurance services: The portal enables exporters and importers to avail various insurance policies to protect their business, which are provided in association with ICICI Lombard, a leading general insurance provider in India. This includes insurances like 'Marine Transit' insurance to safeguard their shipment, group health insurance to offer health coverage to their employees, 'Workmen's Compensation' insurance and property insurance.

The Bank will continue to add more value-added services on the platform.

Businesses from across the country involved in export and import of products from diverse categories including agri-based products like food grains, glass fibre products, raw materials, metal, steel, pharmaceuticals, petro-chemicals, finished goods like industrial equipment among others, can visit the 'Trade Emerge' portal, <> to avail services as per their requirement.

Shares of ICICI Bank Limited was last trading in BSE at Rs. 752.95 as compared to the previous close of Rs. 763.20. The total number of shares traded during the day was 730346 in over 27138 trades.

The stock hit an intraday high of Rs. 769.80 and intraday low of 740.15. The net turnover during the day was Rs. 550536815.00.

Click here to send ur comments or to

Other Headlines:

Edelweiss Financial Services announces Rs. 5,000 million Public Issue of Secured Redeemable NCDs

B N Rathi Securities Ltd fixes Dec 17, 2021 as record date for rights issue

UltraTech Cement Ltd commences mining from Bicharpur Coal Block

Wipro Recognized as 'Gold' Employer by India Workplace Equality Index (IWEI) 2021

India Pesticides Ltd allotted additional land adjacent to Sandila Plant

TCS launches Assessment and Migration Factory for AWS Mainframe Modernization

Oriental Aromatics Ltd board declares interim dividend of Rs. 1.5

Dilip Buildcon Ltd declared as Ll bidder for EPC project in Bilaspur, Himachal Pradesh

Sun Pharma arm DUSA to get $22.5 mn from Biofrontera for settlement of litigation

NIIT's subsidiary, RPS Consulting appoints Francis Jacob as President and Business Head

Maruti Suzuki India Limited increases price of EECO non-cargo variants

Abirami Financial Services India Ltd board to consider monetization of asset

BHEL wins CII-Exim Bank Platinum Awards for Business Excellence

V-Mart Retail Ltd opens one new store in Haryana

Vidli Restaurants Limited board approves rights issue at Rs. 10

Innovators Facade Systems Limited receives order from DLF Group

Infosys collaborates with One of Europe's Greenest Data Centers to accelerate Daimler's transition to Sustainable Mobility

Dharamsi Morarji Chemical Company Ltd to list in NSE from Dec 1, 2021

Fitch affirms Axis Bank at 'BB+', Outlook Negative

TCS helps AGL embrace New AI-powered Operating Model to transform Customer Experience

Dhruv Consultancy Services Limited receives LOA for project worth Rs. 5.04 crore

Arvind Ltd update on Ankur unit

Lupin launches Sciflix a mobile-friendly learning platform for post graduate students specializing in pulmonology

ICRA-assigned Credit Rating for 100.00 crore bank lines of Rane Holdings Limited

ITI Limited installs 100 KW Captive Rooftop Solar Power Plant in Lucknow, Uttar Pradesh

GIC to invest in IRB Infrastructure Developers Limited

Vishvprabha Ventures Ltd Fixes Record Date for Rights Issue of equity shares

Earum Pharmaceuticals Ltd fixes Record Date for Stock Split

ICRA upgrades credit rating of DLF Limited to [ICRA] AA- with Stable outlook

IIFL Home Finance Ltd disbursed loans over Rs. 2500crore, as on 30 September, 2021

Kotak Mahindra Bank reaches One Million FASTags Milestone

Accor renews partnership with IndiGo's 6E Rewards program to offer accelerated travel and stay benefits

Rossari Biotech Ltd. appoints Ketan Sablok as the Group Chief Financial Officer

Vedanta's Sesa Goa Iron Ore Business pledges to become carbon neutral by 2050

CL Educate liquidates third land parcel this year

Reliance Capital Ltd welcomes RBI move to resolve company's debt through IBC

Knowledge Marine & Engineering Works Ltd receives LoA from Vizag Port Trust for patrol boat

Patel Integrated Logistics Ltd board to consider rights shares allotment on Dec 2, 2021

Tatva Chintan Pharma Chem Ltd acquires land at Dahej-III GIDC Estate, Bharuch

Intec Capital Ltd accepts OTS proposal from The Bank of Maharashtra

Sayaji Hotels Ltd arm signs 8 new properties

Coal India Ltd board declares interim dividend of Rs. 9

BSL Ltd updates on credit rating

Ratnamani Metals & Tubes Ltd receives new Domestic Orders of Rs.297.87 Crores

TCS Named a Leader in IDC MarketScape for Worldwide Managed Multicloud Services

James Warren Tea Limited board approves buyback at Rs. 295 through tender offer

Goeld frozen Foods starts operations in Bhopal

Happiest Minds wins Platinum and Gold Awards for its 2021 Annual Report from LACP

Reliance Industries Ltd denies bid for BT

TTK Prestige Ltd fixes Dec 15, 2021 as record date for stock split

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020