Targeted financing, skills development and ecosystem support for small businesses can unlock economic activity even in the most constrained environment, an approach Ghana can adapt to accelerate small and medium enterprise (SME) growth and export competitiveness.
This was the central message from T.D. Sivakumar, Chief General Manager of the Export-Import Bank of India, during a presentation to journalists as part of a familiarisation visit to India by selected media practitioners from Africa and the Pacific.
He outlined how the bank has evolved beyond traditional export financing into a development partner, supporting MSMEs, women-led enterprises and rural industries through integrated interventions that combine funding, training, technology and market access.
Financing Beyond Credit: Building Entire Value Chains
Sivakumar highlighted how targeted interventions can transform low-activity regions into productive economic zones. In northern India, an arid region with limited economic activity, the bank supported the development of an apricot industry.
“We helped provide cold storage facilities, post-harvest tools, and training to about 250 farmers,” he noted, underscoring the importance of linking production to storage and markets.
Across India, similar support has been extended to enterprise clusters. In Channapatna, a small town in Karnataka known for eco-friendly wooden toys, the bank provided machinery, tools and training delivered in partnership with the National Institute of Fashion Technology to improve quality and export readiness.
Industrial clusters have also benefited. In Kolhapur, the bank financed advanced technologies such as 3D scanning and casting simulation tools to enhance the competitiveness of engineering firms.
Women-Centred Enterprise and Skills Development
A defining feature of the model is its deliberate focus on women’s economic empowerment.
In Madhya Pradesh, the bank supported a batik printing cluster dominated by women by providing equipment and skills training to boost productivity and incomes. Beyond enterprise support, targeted programmes have expanded women’s participation in non-traditional sectors.
Through partnerships, 100 girls were trained under an education-focused initiative, while collaboration with DBM India enabled 30 women to be trained as auto mechanics opening pathways into technical and higher-income jobs.
These interventions reflect a broader strategy to integrate women into value chains, rather than limiting support to micro-enterprises alone.
From Agriculture to Manufacturing: A Cluster-Based Model
The bank’s approach spans agriculture, manufacturing and creative industries. Support has been extended to agarwood farmers in Tripura through provision of distillation equipment and training, and to leather artisans in Kanpur through the development of design studios and skills programmes aimed at improving export standards.
By focusing on clusters, the bank ensures that financing is complemented by infrastructure, innovation and skills—addressing constraints across the entire production chain.
Beyond Finance: Social Investment and Sustainability
Sivakumar also highlighted the bank’s voluntary corporate social responsibility initiatives, which complement its development financing role.
In education and healthcare, the bank has partnered institutions to expand access to essential services. This includes support for cancer care through the procurement of a radiation field analyser for the Tata Memorial Hospital, and collaboration with Pride India to deploy mobile medical units to underserved communities.
On the environmental front, the bank has worked with the Sankalp Taru Foundation—an IT-enabled NGO focused on afforestation and rural livelihoods. Under this initiative, nearly 60,000 trees have been planted across India in recent years, contributing to an estimated carbon offset of about 35,000 tonnes annually.
These interventions reinforce the link between economic development, social inclusion and environmental sustainability.
Policy, Research and Trade Intelligence
The Export-Import Bank of India also plays a strategic role in shaping trade policy. Through its research arm, it conducts country and sector studies, supports free trade agreement negotiations, and provides export forecasts that guide national planning. It also collaborates with multilateral institutions such as the World Bank, African Development Bank and Asian Development Bank.
Implications for Ghana’s GEXIM
The model offers clear lessons for the Ghana Export-Import Bank (GEXIM), particularly in its mandate to drive export-led industrialisation and SME development.
Notably, GEXIM is already advancing elements of this integrated approach. At its ongoing 10th Anniversary International Conference in Accra, the bank is reflecting on a decade of supporting export growth, industrialisation and job creation, while outlining a more ambitious roadmap.
Chief Executive Officer Sylvester A. Mensah has emphasised that export growth “is not a slogan; it is a system”—requiring patient capital, structured interventions and coordinated support from production to global markets. Over the past decade, GEXIM has supported businesses to expand production, improve quality and access new markets, particularly within agribusiness and light manufacturing.
Board Chairman Dr. Joseph Nyarkotei Dorh has also underscored the need for Ghana to move decisively into value addition, build resilient industries and invest strategically in local enterprises—priorities that mirror the Indian model of cluster-based development and integrated financing.
The conference itself is focusing on key next-phase priorities, including unlocking MSME export potential through guarantees and risk-sharing instruments, leveraging digital and AI-driven solutions in export finance, and mobilising patient capital to scale small businesses. Sector-specific discussions on garments, poultry and agro-processing further highlight the bank’s intent to deepen support across value chains.
Towards a Broader, More Integrated Mandate
While GEXIM has made measurable progress, the Indian experience underscores the opportunity to scale—expanding beyond financing into deeper ecosystem support. This includes structured training programmes, stronger linkages with technical institutions, targeted support for women-led enterprises, and investments in technology and product development to meet export standards.
Equally important is the bank’s evolving role in shaping policy, strengthening market intelligence, and positioning Ghanaian businesses to take advantage of opportunities under the African Continental Free Trade Area (AfCFTA).
Towards an Integrated Development Finance Model
Sivakumar’s presentation highlights a broader shift in the role of export-import banks—from lenders to ecosystem builders.
For Ghana, the ongoing reset of GEXIM signals a move in that same direction—towards a more coordinated, system-driven approach to export development and industrial transformation.
The experience from India demonstrates that with sustained investment in finance, skills, infrastructure and sustainability, small and medium enterprises can become powerful engines of inclusive growth—offering a pathway Ghana is increasingly positioning itself to follow.
