FIEO (WR) jointly with EXIM Forum of Vidarbha Industries Associations (VIA) organised a Seminar on “Foreign Exchange Risk Management, Export Finance and Export Incentives” recently at VIA Auditorium, Nagpur.
The expert faculty was Nijay Gupta, who is having more than 35 years’ experience in the field of Banking; Forex Risk Management and Hedging; Treasury; FEMA; Trade & International Finance, explained the participants regarding Foreign Exchange Risk Management, Export Finance and Export Incentives. He also gave details on the international trade, foreign exchange transactions, foreign exchange market in India and major sources of currency exposure. He highlighted about the risks associated with international trade and how ECGC is useful in safeguarding the transaction.
He briefed the process of Risk Management Policy such as benchmarking, forecast, hedging, stop loss, reporting and review. He told that in order to manage Fx risk one can opt through natural Hedging, EEFC, Leads & Lags, Forward Contracts, Futures & Options. He informed the participants about the benefits of PCFC and interest subvention under Interest equalization Scheme @ 5% for manufacture MSME and @3% for Merchant exporters. He briefed the participants about various benefits under foreign trade policy which is given by Govt. of India to exporter viz. MEIS, SEIS, Duty Drawback & MDA scheme.
Earlier, Atul Pande, President – VIA in his welcome address briefed about the objectives of organising this seminar to make the day to day working of executives easier in making best use of Finance Schemes, better exchange rate and cover risk on Foreign Exchange transactions. He also informed about IRC Report, wherein policy recommendations were given to Govt Departments on 15 industry sectors and 10 ecosystem enablers for development of Vidarbha and Marathwada regions. He further added that recommendations of committee focused on ecosystem improvements; ease of doing business, organised actions for accelerated, sustainable and long-term business growth.
Gaurav Sarda, Chairman – VIA EXIM Forum, made an opening remark and said also introduced the guest speaker, he further said speaker could cover topics i.e. Foreign Exchange Risk thru Natural Hedging, Availment of Pre and Post shipment Finance and Hedging thru PCFC, Export Incentives, Duty Drawback scheme.
Seminar got tremendous response and largely attended by Omprakash Bagdia, Ex-Vice President of VIA, representatives from exporting / importing units like Tapadia Polyesters Pvt Ltd., ZIM Lab, NSSL Pvt Ltd., Mecgale Pneumatics, Chemfield Cellulose, Lars Enviro, R&Y Logistics, Vipra Cenosphere India, Minex Metallurgical, logistic companies and CHAs.