ICICI Bank, the country's second-largest private sector lender, has increased its market share in Exim trade operations this fiscal year and plans to increase it even more as the country's exports develop,  a senior official said. According to ICICI bank’s executive director Vishakha Mulye, the bank's market share in the Exim trade climbed to 7.5 percent of global flows in the September quarter, up from 6 percent in FY21.

Mulye stated that the country's exports are projected to pick up steam in the coming months as a result of increased demand and investments made under the government's production linked incentive (PLI) scheme, which will help the bank increase its market share. She said the country's exports totaled USD 370 billion in the first seven months of this fiscal year, while imports totalled USD 410 billion.

Investments under the PLI scheme are expected to reach USD 520 billion in the next five years, according to her, with many of the bank's clients planning to participate. The bank also unveiled 'Trade Emerge,' a new platform intended towards Exim participants that can also be used by organisations without an account with the lender.

Sensex gains 198 points; Nifty has surpassed 17,500-mark

Watch Cryptocurrency prices: Bitcoin, Ethereum fall today

Rupee gains 4 paise against dollar to close the day at 74.24.