With the signing of a strategic Memorandum of Understanding, BillMart Fintech Pvt. Ltd. has become the official Digital Funding Partner for the Clothing Manufacturers Association of India (CMAI).
CMAI members will have easy access to cutting-edge financial solutions through BillMart, a new-age digital lending platform with a focus on supply chain solutions, trade finance, and bill discounting. In addition, BillMart attended the 80th National Garment Fair, where it discussed the future of digital financing in the clothing industry with prominent figures in the field.
Bill discounting and working capital solutions will be easily accessible to CMAI members through this agreement, facilitating quicker credit processing and increased liquidity. Clothing companies can now turn unpaid bills into instant cash flow with BillMart’s AI-powered finance platform, guaranteeing more efficient operations, improved supplier connections, and increased company expansion.
Regarding this development, Santosh Katariya, President of the Clothing Manufacturers Association of India (CMAI), stated that financial agility is essential for manufacturers to maintain their competitiveness, given that the Indian garment industry is expanding at a 10% CAGR. Business sustainability depends on efficient money rotation, and this partnership with BillMart will give CMAI members cutting-edge financial solutions to support growth. By increasing liquidity, effectively satisfying market demands, and facilitating scalable expansion, the customised products will empower clothing makers. This collaboration is an important step towards transforming trade financing for the apparel sector, guaranteeing that companies of all sizes can maximise working capital, access money more quickly, and achieve long-term success.
With over 45 million workers in the textile and clothing industry, MSMEs are essential to both domestic supply chains and exports, according to Ashok Mittal, MD & CEO of BillMart Fintech. The ability to obtain quick and effective funding is essential for maintaining and growing these companies. The bill discounting and trade financing AI-driven solutions will assist CMAI members in effectively managing working capital, lowering financial stress, and promoting business growth. The goal is to make supply chain finance more intelligent and accessible by utilising technology, guaranteeing liquidity assistance for clothing companies at all levels.
