28th August, National: Vayana TradeXchange (VTX), the leading International Trade Finance Service (ITFS) platform, announced a partnership with Air8, an insight-driven global supply chain financier, to transform cross-border trade finance between India and the rest of the world. This collaboration is intended to make trade finance accessible for Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) exporters across India.
Through this partnership, Air8 is poised to leverage Vayana TradeXchange’s extensive network of MSME suppliers, buyers, and financiers in India to connect them with its global ecosystem. This initiative will enhance the accessibility and affordability of trade financing for Indian exporters. It will bolster their cross-border trade activities, in line with the government’s objective to establish India as a pivotal manufacturing and export hub within the global supply chains.
Access to formal finance remains a significant challenge for many MSME exporters in India. These businesses often struggle with obtaining timely and affordable trade financing, hindering their growth opportunities and competitiveness. The strategic partnership is designed to enable exporters to manage the complexities of cross-border trade and reduce risks linked to international buyers.
VTX, a platform based in GIFT City, operates under the regulatory oversight of the International Financial Services Centre Authority (IFSCA). It has become the preferred ITFS platform for connecting exporters and importers, providing access to cross-border trade finance products. The platform facilitates transparent interactions between financiers, exporters, and importers, promoting inclusivity and accessibility in trade finance.
“We are excited to partner with Air8 to further our mission of democratizing trade finance and making it available to the smallest of businesses from the largest of lenders,” said Kalyan Basu, MD & CEO, of Vayana TradeXchange. This collaboration will enable us to leverage Air8’s global reach and expertise to empower MSMEs in India and drive their growth and competitiveness in cross-border trade.”
Established in 2021, Air8 is a technology-based supply chain platform that stands out in the fintech industry with its seamless easy onboarding process and profound insights into sectors such as fashion and general merchandise. Since its inception, Air8 has achieved over US $1 billion in annual GMV and has provided financing to suppliers across multiple countries globally. By integrating with VTX’s platform, Air8 will further enhance accessibility to finance for SMEs and MSMEs, thereby facilitating sustained growth and resilience in the sector.
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