"Navigating India's Ambitions to Double the Exports by 2025"

In this interview between Dr Faiz Askari of SMEStreet and Mr Sachin Nigam of MODIFI, you can discover how MODIFI plans to bolster India's export ambitions by aligning its expansion with national objectives. Through enhanced digital trade finance and working capital solutions tailored for Indian SMEs, MODIFI aims to facilitate international scaling, contributing directly to India's goal of doubling exports by 2025. Explore potential growth opportunities, challenges, success stories, and MODIFI's adaptation strategies for the diverse Indian market

Here are the edited excerpts:

Empowering Indian SMEs to Achieve Export Goals

India has ambitious goals for doubling exports by 2025. How does MODIFI plan to align its expansion with these national objectives?

MODIFI is committed to supporting India's ambitious goal to double exports by 2025. We plan to align our national expansion with the national objectives by enhancing our digital trade finance and working capital solutions, making them more accessible to more Indian exporters, especially SMEs. By providing tailored in-market solutions, we aim to empower these businesses to scale internationally, thereby contributing directly to the national export targets.

Could you provide specific instances where MODIFI has facilitated significant growth or aided Indian SMEs in overcoming financial challenges?

MODIFI has facilitated significant growth for Indian SMEs by providing them with the necessary liquidity to fulfil larger orders and enter new markets. For example, a textile manufacturer in Surat was able to double its export volume to Europe within six months of using our trade finance solutions, overcoming previous cash flow constraints that limited their growth.

Adapting for Success

In what ways does MODIFI's digital financing bridge the gap for Indian SMEs, especially considering their historical challenges with traditional financing options?

MODIFI's digital financing solutions bridge the gap for Indian SMEs by offering a more accessible, flexible, and faster alternative to traditional financing options. Our platform leverages cutting-edge technology to provide quick credit assessments and disbursements, helping businesses overcome the lengthy and cumbersome processes often associated with conventional bank financing.

MODIFI's Contribution to India's $1 Trillion Export Market by 2030

How does MODIFI foresee its role in contributing to India's projected $1 trillion manufacturing export market by 2030?

As India aims for a $1 trillion manufacturing export market by 2030, MODIFI sees its role as a catalyst for this growth. By providing scalable and efficient financing solutions, we aim to support manufacturing SMEs in enhancing their export capabilities and competitiveness on the global stage, thus contributing to achieving this ambitious target.

Can you share more examples or success stories of Indian companies that have leveraged MODIFI's solutions for substantial growth?

We have many such examples. One of our recent success stories involves an Indian electronics manufacturer that leveraged MODIFI's financing solutions to expand its operations into new global markets. With our support, the company was able to increase its export revenues by 40% in less than one year, demonstrating how strategic financial support can unlock new growth avenues for Indian businesses.

How is MODIFI adapting its global expertise to suit the diverse needs and regulations of the Indian market?

MODIFI is leveraging its global expertise to meet the unique needs and regulations of the Indian market by customising our solutions to comply with local financial regulations and cater to the specific challenges faced by Indian exporters. We're also investing in local partnerships and integrating with India's digital finance ecosystem to ensure our solutions are both accessible and effective for Indian businesses.