VMPL
Mumbai (Maharashtra) [India], March 1: BillMart Fintech Pvt. Ltd. (https://www.billmart.com/), India's leading and new age digital lending platform specializing in bill discounting, trade finance and supply chain solutions, has signed a strategic MoU with the Clothing Manufacturers Association of India (CMAI), becoming the official Digital Funding Partner for its members. BillMart was also part of the recently held 80th National Garment Fair, where it actively engaged with industry leaders, hosting insightful sessions with garment manufacturers and founders on the future of digital financing in the apparel sector.
The Indian textile and apparel industry are valued at $138 billion, with the domestic apparel market alone accounting for $100 billion. The sector is one of the largest employment generators, supporting over 45 million people, including a vast network of MSMEs that form the backbone of this industry.
With this partnership, CMAI members will gain seamless access to bill discounting, and working capital solutions, enabling faster credit processing and improved liquidity. Through BillMart's AI-powered financing platform, garment businesses can now convert outstanding invoices into immediate cash flow, ensuring smoother operations, better supplier relationships, and enhanced business growth.
Driving Growth & Financial Access for MSMEs-SMEs
Ashok Mittal, MD & CEO, BillMart Fintech, shared his thoughts on the collaboration: "With the textile and apparel sector employing over 45 million people, MSMEs-SMEs play a critical role in both domestic supply chains and exports. Accessibility to fast and efficient funding is key to sustaining and scaling these businesses. Our AI-driven trade finance and bill discounting solutions will help CMAI members manage working capital efficiently, reduce financial stress, and fuel business expansion. By leveraging technology, we aim to make supply chain finance smarter and more accessible, ensuring liquidity support for apparel businesses at every level."
CMAI's Vision for Financial Inclusion
On this development, Mr Santosh Katariya, President, CMAI said, "With India's garment industry growing at a 10% CAGR, financial agility is crucial for manufacturers to stay competitive. Smooth money rotation is essential for business sustainability, and this collaboration with BillMart will provide CMAI members with innovative financial solutions to fuel expansion. The tailored offerings will empower garment manufacturers by improving liquidity, meeting market demands efficiently, and enabling scalable growth. This partnership is a significant step in revolutionizing trade finance for the garment industry, ensuring that businesses of all sizes can unlock capital faster, optimize working capital, and drive long-term success."
About BillMart Fintech:
BillMart is a cutting-edge digital lending platform connecting businesses and financiers to meet liquidity needs for Corporates and MSMEs. Offering a range of financial products, including Vendor Finance, Purchase Invoice Financing, and Supply Chain Finance, BillMart enables streamlined, digital financing at competitive costs. Leveraging AI and cloud-based technology, BillMart provides scalable, secure, and compliant solutions, backed by ISO 27001 and SOC2 certifications. With advanced analytics and AI-driven insights, BillMart empowers precise decision-making for trade finance and working capital needs. The platform's upcoming innovations include India's first AI-based co-branded grading solution for MSMEs.
For company details, please check: https://www.billmart.com/
About CMAI
Established sixty-one years ago, The Clothing Manufacturers Association of India (CMAI) is the most representative association of the Indian apparel industry having over 5000 members and serving more than 35,000 Retailers across India. Its Membership consists of Manufacturers, Exporters, Brands, and ancillary industry.
CMAI has contributed immensely towards development of the industry. It acts as a catalyst of Change, Evolution, and Transformation by regular interactions with the Government to encourage industry-friendly policies on one hand, and with the Members to keep pace with the dynamics of market forces on the other. CMAI has been responsible for influencing several measures in policies of the Government including GST, PLI, Duty Drawback, Export Promotion Schemes, FTAs, etc. It is also playing a vital role in pushing the industry into a more ESG and Sustainability oriented working.
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