Exim Bank to give thrust on R and D financing

"India's hi-tech exports was very low as compared to low -tech exports," he told reporters on the sidelines of an Indian Chamber of Commerce seminar here.

It had been noticed that the rate of growth of hi-tech exports was high than rate of growth of low-tech exports, he said adding, this was because the base for hi-tech exports was small.

He said only expenditure in research and development would help boost hi-tech exports for which Exim Bank was ready to finance R&D, quality enhancement and product development.
On credit offtake, he said business was usual.

Ranganathan said one cause of concern was that rate of growth of imports was higher that rate of growth of exports leading to trade gap.

On an year-on-year basis, credit disbursements by Exim Bank was growing at 18 per cent to 19 per cent, he said.