GoCoop & EXIM Bank Sign MOC for Export Market Development

GoCoop, a leader in social marketplace for easy and transparent sourcing of craft products has signed a Memorandum of Cooperation (MOC) with Export-Import Bank of India (EXIM Bank). Under the MOC, both Exim Bank and GoCoop will work on export market development and share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory.

On the occasion, Siva Devireddy, Founder and Managing Director, 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 would work closely with EXIM Bank in capacity building and global market development initiatives for weaver and artisan co-operatives and other grassroots enterprises. It is a great privilege to partner with EXIM Bank, one of the key financial institutions of the country.  “

Debasish Mallick, Deputy Managing Director, EXIM Bank said “EXIM Bank has been striving towards promotion of exports 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. 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.”

Mallick emphasized that this partnership with GoCoop was a part of EXIM Bank's outreach strategy to target a wider spectrum of grassroots organizations and would supplement the Bank's efforts towards boosting exports of handloom and handicraft products from India. EXIM Bank has supported various grassroots enterprises across different parts of the country.