INTERNATIONAL TRADE 423
Countertrading is common among countries that have inconvertible currencies or limited
currency reserves. Countertrade is also used to circumvent foreign exchange controls, if any.
Country risk and foreign exchange risk can also be reduced with countertrade transactions.
Export-Import Bank of India (Exim Bank)
The Export-Import Bank of India, popularly known as Exim Bank, is a specialized financial
institution established on 1 January 1982 by an Act of Parliament for financing, facilitating,
and promoting India’s foreign trade. It also coordinates the working of various institutions
engaged in financing and promoting foreign trade. It facilitates two-way technology transfer
by financing import of technology into Ind ...