Page 20 - Banking Finance July 2025

PRESS RELEASE

ICICI Bank and Tata Memorial Centre (TMC) lay foundation stone for

advanced cancer care block in Visakhapatnam

ICICI Bank, in collaboration with Tata Memorial Centre (TMC), announced commencement of the construction of a new
building at the Homi Bhabha Cancer Hospital and Research Centre (HBCHRC) in Visakhapatnam, Andhra Pradesh.
With a commitment of over Rs. 550 crore, the Bank is funding the construction of a state-of-the-art facility spanning
nearly 3.9 lakh square feet, equipped with cutting-edge medical technology.

Once operational, the eight-storied new building-- ICICI Foundation Block for Child and Blood Cancer—will serve 3,000
patients annually. Currently, HBCHRC, Visakhapatnam has a capacity of handling 6,200 patients annually.
Designed as one of the largest specialised cancer facilities in eastern India, the new building will house over 215 beds.
It is expected to be completed by 2027, subject to necessary approvals. ICICI Foundation for Inclusive Growth, the CSR
arm of ICICI Bank, will oversee its implementation.
The foundation stone was unveiled by Mr. Pradeep Kumar Sinha, Chairman, ICICI Bank; in the presence of Mr. Sandeep
Batra, Executive Director, ICICI Bank; and Dr. Sudeep Gupta, Director, Tata Memorial Centre, Mumbai.

Hon’ble Finance Minister Highlights Key Policy Measures to Promote

Export-led Growth at Exim Bank’s Trade Conclave

Smt. Nirmala Sitharaman, Hon’ble Minister of Finance and Corporate Affairs, Government of India, addressed Exim Bank’s
Trade Conclave on the theme ‘Building Export-led Growth for Viksit Bharat’ on June 24, 2025, in New Delhi. In her
keynote address, the Hon’ble Finance Minister outlined five major steps taken by the Government to empower Indian
exporters and foster export-led growth. Firstly, there has been significant investments in transport and logistics, which
is improving supply chain efficiency and global competitiveness.

Secondly, MSMEs are being supported through key initiatives such as revision in definition of MSMEs, Udyam registration,
revamp of Credit Guarantee Schemes, TReDS, and Exim Bank’s Ubharte Sitaare Programme. Under the Ubharte Sitaare
Programme, Exim Bank has extended financial support of Rs. 1,522 crore, including 7 equity investments, to 85 entities
identified as future champions. Additionally, technical assistance has been extended to incubators of IIT Bombay, IIT
Delhi, IIM Ahmedabad, IISc, Bangalore, IIM Lucknow and IIT Kanpur under the programme, for scaling up and nurturing
early-stage companies. Thirdly, there is a focus on enhancing access to trade finance through platforms like ITFS and
Exim Bank’s subsidiary in GIFT City, Exim Finserve, which is offering export factoring.
During FY 2025, Exim Finserve provided export factoring for 587 open account trade transactions of exporters. Fourthly,
cluster development for trade is being pursued under the Districts as Export Hubs initiative, enabling exporters to operate
beyond SEZs and directly from their local districts. Finally, India is actively negotiating FTAs with several geographies,
with the agreement with the USA also close to finalisation. Hon’ble Finance Minister also highlighted the role of Production-
linked incentive scheme, with exports catalysed through the scheme exceeding Rs. 5.3 lakh crore.

The key milestones achieved under Exim Bank’s Trade Assistance Programme (TAP) were highlighted during the Conclave.
In her keynote address, the Hon’ble Finance Minister, Ms. Nirmala Sitharaman highlighted that TAP is a first-of-its kind
trade facilitation initiative in India, which is enabling Indian exporters to access high-risk markets by bridging the financing
gaps. She highlighted that since TAP’s introduction in 2022, Exim Bank has established partnerships with over 100 overseas
banks, facilitating over 1,100 export transactions across 51 countries.
During the event, Hon’ble Finance Minister virtually inaugurated Exim Bank’s new offices in Lucknow, Indore and São
Paulo, Brazil, in the presence of Shri Pankaj Chaudhary, Hon’ble Minister of State for Finance and Shri M. Nagaraju,
Secretary, Department of Financial Services, Ministry of Finance, Government of India. These offices will play a key role
in supporting existing and aspiring exporters, and facilitating access to new markets.

18 | 2025 | JULY | BANKING FINANCE