• Exim Bank sees Central Asia as a key market to offset US tariff impact.
• Trade with the region has grown but large untapped potential remains.
• Bank is using its Trade Assistance Program to support exporters.

The Export Import Bank of India (Exim Bank) is focusing on Central Asia as a major growth market to counter the impact of new US tariffs. With Indian exports to the US facing a 50% tariff, exporters are looking for new opportunities in regions like Central Asia, Africa, and Latin America.

Exim Bank’s Managing Director, Harsha Bangari, said trade between India and Central Asia has grown from under $500 million in 2014 to over $2 billion in 2024. However, another $2 billion in potential trade remains untapped due to limited access to finance, especially for small and medium sized exporters.

Speaking at a webinar titled ‘Bridging Borders’, Bangari highlighted Central Asia’s strategic location and rich natural resources, calling it a natural partner for India’s growing manufacturing and tech sectors.

To support exporters, Exim Bank is expanding its Trade Assistance Program, which connects Indian banks with over 100 foreign banks. Since 2022, the program has supported more than 1,200 export deals worth over $3 billion across 52 countries, including Kazakhstan and Uzbekistan.

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Bangari also pointed to a global trade finance gap of $2.5 trillion, worsened by COVID 19, geopolitical tensions, and tight financial markets. Nearly 80% of world trade depends on finance tools, making support programs vital for exporters.

Exim Bank aims to bridge this gap and unlock trade potential in Central Asia through stronger financial links and targeted support.