Dun & Bradstreet, the worlds leading provider of global business information, knowledge and insight, in association with the Export Credit Guarantee Corporation of India Ltd (ECGC) organised the inaugural conference of the ECGC-D&B Export Risk Management Conclave, designed to discuss risks faced by various stakeholders in the export value chain across the country and how these can be mitigated.
The conclave theme for this session, Managing Risk in Volatile Times provided insights on risk mitigation issues and techniques in critical areas of exports related to insurance, foreign exchange fluctuation, supply chain management and geo-political movements. The event witnessed industry experts sharing their experiences and perspective about the current and future state of the export landscape.
Delivering the welcome address, Kaushal Sampat, President & CEO – India, Dun & Bradstreet said, "India has taken significant steps to deepen integration with the global economy over the last two decades, especially in the area of trade. From a share of mere 0.4 per cent in global merchandise exports and a ranking of 45 in 1980, India has moved up to 19th rank and holds 1.6 per cent share in global merchandise exports in 2012. Exporters are being confronted with increasingly volatile and complex environment. The scope of risks they face is broader, has a deeper impact and is much quicker to materialise. In such a scenario, the ability of an organisation to take risks and manage them well has emerged as a major competitive advantage."
"The objective of the ECGC-D&B Export Risk Management Conclave therefore is to reach out to exporters across the country and discuss the risks that they face and how these can be mitigated. Equally importantly, the Conclave would discuss how exporters can leverage the opportunities ahead, in terms of new markets, products, services, financing avenues, supply chains, etc," he added.
Speaking at the conclave, N Shankar, Chairman-cum-Managing Director, Export Credit Guarantee Corporation of India Ltd, said, "Credit Insurance stands out from other non-life insurance products. Export Credit Insurance plays an important role in enhancing the competitiveness of exports, especially of developing economies."
Expressing his views on various banking services available for exporters, Ranjan Dhawan, Executive Director, Bank of Baroda said, "All banks in India are actively involved in helping the Exporter Community in increasing the exports from India for which immense potential still exists. Bank of Baroda, in particular, being present in 24 countries abroad in addition to its network of more than 4500 branches in India, is committed to provide a full-range of banking services to the exporters including export – finance in all its forms and facets."
Speaking on Supply Chain Risk Management, Sanjiv Singh, Chief Manager (Country Head), Marine Cargo Dept, New India Assurance Company Limited said, "Marine Insurance can play an important role in supply chain risk management by promptly settling claims on account of loss or damage to goods. However marine insurance cannot be a substitute for risk management to contain losses – especially those which are preventable in nature."
Providing his views on supply chain risk in global logistics, Deepal Shah, CEO – Hindustan Cargo Limited mentioned, "With the advent of globalisation and outsourcing the inter-dependencies on various factors affecting global SCM is leading to higher uncertainties and increased complexities. Nimbleness in operations backed by global SCM knowledge is the only way forward to mitigate risks and improve costs and deliverables."
Throwing light on Forex Risk Management, Jamal Mecklai, Chief Executive Officer, Mecklai Financial Services said, "Huge market volatility as we have seen recently is often blamed for poor FX<