The Clothing Manufacturers Association of India (CMAI) has signed an MoU with BillMart Fintech Pvt. Ltd., naming it the official Digital Funding Partner for its members. BillMart, a leading digital lending platform specializing in bill discounting, trade finance, and supply chain solutions, will offer seamless financial services to CMAI members. BillMart also participated in the 80th National Garment Fair, engaging with industry leaders on the future of digital financing in the apparel sector.
The Indian textile and apparel industry, valued at $138 billion, employs over 45 million people, with MSMEs playing a vital role. This partnership will enable CMAI members to access quick bill discounting and working capital solutions, helping businesses improve liquidity and accelerate growth.
CMAI’s Commitment to Financial Inclusion
CMAI President, Mr. Santosh Katariya, emphasized the importance of financial agility for manufacturers amid India’s garment industry’s 10% CAGR growth. He stated, “Efficient cash flow is crucial for sustaining and scaling businesses. Our collaboration with BillMart offers tailored financial solutions to empower garment manufacturers, improve liquidity, and drive sustainable expansion.”
Empowering MSMEs-SMEs with Smarter Finance
Mr. Ashok Mittal, MD & CEO of BillMart Fintech, highlighted the importance of accessible financing for the textile and apparel industry. “With over 45 million people employed in this sector, fast and efficient funding is key to sustaining growth. Our AI-driven solutions will help businesses optimize working capital, reduce financial stress, and scale efficiently,” he noted.
By leveraging AI-powered trade finance, this collaboration aims to revolutionize financial access for garment manufacturers, ensuring liquidity and stability in the sector.
