Indian fintech RXIL has appointed Unmesh Partiwala as chief executive of its subsidiary that operates on the country’s fledging international trade finance marketplace.

Partiwala, who took on the role in July, leads RXIL Global IFSC Ltd, which primarily operates on the International Trade Financing Services (ITFS) platform. The platform is an international trade equivalent to India’s domestic trade receivables discounting system.

Until June, Partiwala was a senior consultant and fintech division head at the International Financial Services Centres Authority (IFSCA), which regulates the ITFS. He has previously held trade finance and transaction banking roles at lenders including Standard Chartered and IDFC First Bank.

Partiwala has been tasked with positioning RXIL Global IFSC “as a leading provider of liquidity at competitive pricing, bringing in efficiencies in the processes at reduced costs in the region”, the company tells GTR.

“India’s role in global supply chains is receiving major impetus due to various geopolitical reasons,” says RXIL managing director and CEO Ketan Gaikwad. “This opens up huge opportunities for MSMEs in India. Unmesh will focus on the growth of volumes of international trade for MSMEs.”

Launched in 2021, the ITFS platform aims to help drive down the cost of trade financing by creating a competitive marketplace for traditional trade products.

Earlier this year, Yes Bank became the first Indian lender to execute a transaction on the platform, using RXIL.

In July, M1xchange, another fintech, appointed Munindra Verma as CEO of its ITFS subsidiary.