DS-Concept, a trade finance provider servicing global exporters and importers, recently opened new offices in New Delhi and Chennai to better accommodate its large client base in India. DS-Concept has been offering financing to mostly Indian manufacturers, as also Indian wholesalers, traders, distributors, farmers, processors and brand companies selling on a global scale.
With these two new locations, DS-Concept will be well positioned to ensure the support and success of the fast growing companies located in the two main industrial and agricultural zones. The office in New Delhi will service companies in North India in the manufacturing, textile, food, and IT industries while that in Chennai will focus on exporters in the South in the textile, garment, leather, automotive, agriculture, IT and engineering goods industries.
The textile and apparel industry is one of the oldest and largest industries in the Indian economy. “We started in the textile industry and we know it well,” said Rene Pastor, DS-Concept Group President of Global Commercial. “Because of our deep understanding of the industry, especially in India, we have become very creative and flexible when servicing fast growing companies that are often underserved by more traditional lenders. We also offer them valuable services beyond financing, such as collections and book-keeping in the countries they sell to so they can better focus on their core business.”
As most foreign lending institutions are scaling back their operations in India, DS-Concept is already working on phase two of its development to further establish its presence in the country. “We have a diversified the client portfolio in India across different industries, especially textile, automotive, pharmaceutical and information technology. We decided to start setting up our first set of offices in the North and South of India where the majority of our existing client base is. In the next phase, we will be expanding into other regions such as Mumbai, Kolkata and Gujarat. One of DS-Concept’s key areas of focus is to offer customized solutions and high-level customer service to its clients in India,” said Ankit Goel, Managing Director of DS-Concept Intelligent Trade Finance Ltd. (UAE) and India Operations.
The firm provides financing on open account, documentary collections payment terms, and L/C to help its Indian customers get faster funding, accommodate growing sales, and meet the demand for open account payment terms from numerous overseas buyers.
The DS-Concept Group provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivalled reputation for the depth of its international finance expertise and capabilities by maintaining a network of offices and affiliates around the world including the US, China, India, Hong Kong, the UAE, Turkey, Bangladesh, Pakistan, Iceland, the UK, Spain, Bulgaria and Hungary.
Combining credit protection, collections, and financing into a single trade finance facility, DS-Concept, headquartered in Germany, offers streamlined, flexible and best-in-class services.