NVCC extending support to bizmen in exports: Gandhi

Source: The Hitavada      Date: 12 Oct 2017 10:24:49


Business Bureau,

Nag Vidarbha Chamber of Commerce (NVCC) in association with ECGC Ltd, Government of India undertaking) conducted a seminar on ‘Risk management in export transaction’ at Chitnavis Centre.

Hemant Gandhi, President of NVCC in his inaugural address welcomed the gathering and emphasised on how NVCC is committed towards extending all possible support to businessmen in exports from the region. He acknowledged the efforts of ECGC Ltd in supporting the export businesses and also highlighted that to support export businesses, NVCC has now started providing ‘Certificate of Origin’ within one working day.

He thanked ECGC for taking up the initiative and congratulated the participants for taking this opportunity and availing the benefit from the event.
Anand Singh, Regional Manager of ECGC Ltd., in his address shared experience on the dynamics of the market and also what were the tell tale signs that would eventually lead to claims.

He briefed about the market life cycle, product life cycle and most crucial the buyer life cycle. He said, every business wants to grow and the growth comes at undertaking some risks involved. When an exporter broadens his horizons and ventures into newer markets, he is being exposed to various risks like political risks, commercial risks, Forex risk, financial risks etc. “In such a situation, wherein there is turmoil on the macro level in the international market, the risks involved are higher than they are perceived by an exporter,” Singh added.

He stressed upon the importance of risk transfer to mitigate unforeseen losses and ECGC Ltd., which is a Government undertaking, is forthright in underwriting such risks while exporting, he added.
A detailed power-point presentation was given by Sandeep Saini, Manager - ECGC Ltd., explaining in depth various risks and how ECGC undertakes the transfer of such risks. He also informed the august gathering the details of various products of ECGC and discussed live cases and examples to make understanding superfluous. Anand Singh replied all queries. Anand Singh was felicitated by Shri Hemant Gandhi by presenting flower bouquet. Vote of thanks was proposed by Rajesh Modak, Branch Head of ECGC Ltd.