Alibaba Trade Facilitation Centre Program

IAS Prelims 2023

Alibaba has entered into agreements with new partners in India to explore the establishment of an expanded Trade Facilitation Centre (TFC) program in India.

The new partners include Kotak Mahindra Bank, IDFCBank, Delhivery, DHL and Aditya Birla Finance.

The proposed TFC program would allow SMEs avail special benefits, dedicatedsupport and customised value-added services, besidesproviding dedicated facilities.

While would work with Kotak Mahindra Bank and IDFC Bank to provide banking, transactional and lending solutions, Aditya Birla Finance would help improve SMEs’ exports process with provision of collateral free loans and customised financing options.

DHL would present members with Concept 1, a program with one solution for all exports andimports of documents, samples and small shipments, while Delhivery would provide domestic courier and logistics services with free shipments and offer members special solutions, prices and customer support.