Exim Bank of India signs MOC with GoCoop

Debasish Mallick, Deputy Managing Director, Exim Bank (right) and Mr. Siva Devireddy, Founder and Managing Director, GoCoop during the signing of the Memorandum of Cooperation

Export-Import Bank of India (EXIM Bank) today signed a Memorandum of Cooperation (MOC) with GoCoop Solutions and Services Pvt. Ltd. (GoCoop).

GoCoop.com, India’s first social marketplace for easy and transparent sourcing of craft products, is an eCommerce platform that enables cooperatives, community-based artisans and weavers to list and sell their produce online. The technology platform developed by GoCoop and its marketing services provide coops in India with access to national and international markets, fair and efficient business dealings, and the means to raise the standard of living of millions of low-income producers.

Under the MOC, both Exim Bank and GoCoop will work on export market development for Craft products and share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory.

The MOC was signed by Mr. Debasish Mallick, Deputy Managing Director, EXIM Bank and Siva Devireddy, Founder and Managing Director, GoCoop at Exim Bank’s Head Office in Mumbai on November 05, 2015.

Speaking on the occasion, Debasish Mallick highlighted that EXIM Bank has been striving towards promotion of export of products from rural grassroots business enterprises, by providing them with an array of services, including those related to financial support, capacity building, and export marketing.

Mallick pointed out that the underlying objective is to augment sustainable employment opportunities and exports from the disadvantaged sections of rural India by widening their market beyond the domestic shores. EXIM Bank has supported various grassroots enterprises across different parts of the country.

Mallick emphasised that this partnership with GoCoop was a part of EXIM Bank’s outreach strategy to target a wider spectrum of grassroots organisations and would supplement the Bank’s efforts towards boosting exports of handloom and handicraft products from India.

Expressing his happiness in working with Exim Bank, Mrva Devireddy, Founder and Managing Director of GoCoop, said, “Handloom and Handicraft sector has a big export market which continues to grow. GoCoop’s objective is to provide great service to our international buyers and make import of craft products a much more easy and transparent online experience, while the benefits of exports are shared with the actual weaver and artisans. GoCoop is privileged to partner with EXIM Bank and will work closely in capacity building and global market development initiatives for weaver and artisan co-operatives and other grass root enterprises.”

He also pointed out that the synergy between the two institutions would improve the quality of business of social enterprises and make them more sustainable in the long run.

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