CMAI Collaborates & Partners with BillMart Fintech
01 April 2025: The Clothing Manufacturers Association of India (CMAI) has signed a strategic Memorandum of Understanding (MoU) with BillMart Fintech (P) Ltd., appointing it as the official Digital Funding Partner for its members. This collaboration will provide CMAI members with seamless access to AI-driven trade finance and bill discounting solutions, enhancing liquidity and driving business growth.
As one of India’s leading digital lending platforms, BillMart specializes in bill discounting, trade finance, and supply chain solutions. The company also actively participated in CMAI’s 80th National Garment Fair, engaging with industry leaders to discuss the future of digital financing in the apparel sector.
Through this partnership, CMAI members will benefit from faster access to working capital through bill discounting, AI-powered financing solutions for improved liquidity, streamlined credit processing for smoother business operations and enhanced supplier relationships and scalable growth opportunities.
Santosh Katariya, President, CMAI, emphasized the importance of financial agility in a fast-growing industry “With India’s garment industry expanding at a 10% CAGR, smooth financial flow is essential for sustainability and competitiveness. This collaboration with BillMart will empower our members by providing access to innovative funding solutions, ensuring faster capital rotation, and fueling business expansion. By optimizing working capital, garment manufacturers can efficiently meet market demands and scale their operations.”
Highlighting BillMart’s role in supporting the industry, Ashok Mittal, MD & CEO, BillMart Fintech, stated, “With over 45 million people employed in the textile and apparel sector, MSMEs and SMEs are the backbone of the industry. Access to fast, efficient funding is critical for sustaining and scaling these businesses. Our AI-driven trade finance and bill discounting solutions will help CMAI members manage their working capital effectively, reduce financial stress, and accelerate growth. Through technology, we aim to make supply chain finance smarter, more accessible, and efficient for apparel businesses at every level.”
The Indian textile and apparel industry, valued at $138 billion, is a key pillar of the economy, with the domestic apparel market alone contributing $100 billion. The sector also serves as one of the largest employment generators, supporting over 45 million people, including thousands of MSMEs and SMEs.
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