Ties up for export marketing of agarbattis.
KOLKATA: ITC Ltd has tied up with Exim Bank for export marketing services. The company aims to leverage the bank’s overseas presence to promote agarbattis to buyers, importers and distributors abroad.
Exim Bank will help locate business partners for ITC’s agarbattis. It will also identify customers for ITC products directly or through its associates and initiate negotiations with them. ITC will finalise the deal and ensure supplies and delivery schedules.
The export marketing services offered by Exim Bank will supplement ITC’s efforts to expand its export market and is exclusive in this category.
ITC started exports of its `Mangaldeep’ range of agarbattis last year to various countries across the world. Currently the brand is available I Singapore, Malaysia, Nepal, UAE, Bahrain and the US.
Apart from the innovative `fragrance locked’ packaging developed by ITC, the latter is also developing fragrances and new incense products to be positioned as lifestyle products in the western markets.
Exim Bank has launched a new initiative of offering export marketing services for Indian companies through its network of offices located in Washington, Budapest, Johannesburg, London and Singapore.
The services offered enables Indian companies to explore new markets with Exim Bank acting as a facilitator to contact new buyers for the companies’ products, in international markets.
