EXIM has reported a 30 per cent increase in contracts secured during the first half until April 1999. It participated in export bids worth Rs 9000 crore of which contracts secured was worth Rs 2000 crore compared to Rs 3,300 crore for the whole year last year. Sanctions in the first half were Rs 800 crore while disbursements were to the tune of Rs 400 crore. There has been a 20 per cent fall in disbursements compared to the previous year's figures for the same period.

Desai was in Pune to meet industries in the region. Desai was keen to catalyse overseas investment by Indian companies. After financing two successful acquisitions EXIM has six more such projects in the pipeline, Desai said. All these are companies are based in Maharashtra and their acquisitions would involve investments of around US $ 20 million and around US $ five million per project. Exim had helped Usha Beltron and Rallis to acquire overseas companies.

According to Desai, Pune was emerging as a major export centre especially in the area of software. The city alone accounted for sanctions worth Rs 300 crore of the total of Rs 500 crore in Maharashtra region. The non-performing assets (NPAs) on export credit portfolio is currently around five per cent of the turnover and works to Rs 240 crore.

Exim has been in the area of marine products, textiles and lines of credit to African countries. It has gone in for counter trade in some cases to recover dues. In Vietnam for instance the recovery was made through rice given by Vietnam in lieu of the payments.