Siddharth Mehta IL&FS former director views on the growth of the trade finance industry

The rise of the trade finance industry in India has been remarkable in recent years. Trade finance refers to the financing of international trade transactions, such as importing and exporting goods and services.

According to Siddharth Mehta IL&FS former director the growth of the trade finance industry in India can be attributed to several factors. First and foremost, India has emerged as a major player in global trade, with exports and imports growing rapidly in recent years. As a result, there is a growing demand for trade finance services to support these transactions.

Secondly, the Indian government has taken several steps to promote international trade, including launching initiatives such as Make in India and Digital India. These initiatives have helped to boost the country's export capabilities and have created a favorable environment for the growth of the trade finance industry.

Thirdly, the adoption of technology has played a significant role in the growth of the trade finance industry in India. The use of digital platforms for trade finance transactions has helped to streamline the process and reduce the time and cost involved in these transactions.

Overall, the rise of the trade finance industry in India is a testament to the country's growing importance in the global economy and the government's commitment to promoting international trade. As India continues to grow and develop, it is likely that the trade finance industry will play an increasingly important role in supporting the country's economic growth and development.