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Tuesday, Aug 03, 2004

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HSBC to expand exim trade financing

Our Bureau

Kolkata , Aug. 2

HSBC is looking at new ways of financing export-import trade in India in keeping with the requirements of its customers. The bank is among the better-known players in the foreign trade financing market.

Mr Rajeev Bhargava, Head - Trade Services, said HSBC already provides critical services to the trading community. These range from tracking of export receivables to handling of advance remittances. Besides, it takes care of important functions such as tracking of documents in association with DHL.

He was addressing the members of Bharat Chamber of Commerce here recently.

India has lately seen a rise in external trade. This year, up to the end of the first quarter, exports have gone upsubstantially higher than that in the corresponding period of the previous year. Export-import transactions with Asian countries are particularly moving up.

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