Dun & Bradstreet (D&B), a leading provider of global business information, knowledge and insight, in association with the Export Credit 
Guarantee Corporation of India Ltd. (ECGC), organised the ECGC – D&B Export Risk Management Conclave in Mumbai on November 29 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 of ‘Managing Risk in Volatile Times’ provided insights on risk mitigation issues and techniques in critical areas of exports related to insurance, foreign exchange fluctuations, supply chain management and geo-political movements. Industry experts shared their experiences and perspectives on the current and future export trends.
Delivering the welcome address, Mr. 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% in global merchandise exports and a ranking of 45 in 1980, India moved up to the 19th rank and holds 1.6% share in global merchandise exports in 2012. Exporters are being confronted with increasingly volatile and complex environment. The scope of risks faced is broader, and has a deeper impact. In such a scenario, the ability of an organisation to take risks and manage them well has emerged as a major competitive advantage.”
He added: “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.”
In his address, Mr. N. Shankar, Chairman-cum-Managing Director of ECGC, 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, Mr. Ranjan Dhawan, Executive Director, Bank of Baroda, said: “All banks in India are actively involved in helping the exporter community in increasing 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 4,500 branches in India, is committed to provide a full-range of banking services to exporters, including export finance in all its forms and facets.”
Speaking on supply chain risk management, Mr. Sanjiv Singh, Chief Manager (Country Head), Marine Cargo Dept, New India Assurance Company Ltd., observed: “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.”
Presenting his views on supply chain risk in global logistics, Mr. Deepal Shah, CEO, Hindustan Cargo Ltd., said: “With the advent of globalization 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, Mr. Jamal Mecklai, Chief Executive Officer, Mecklai Financial Services, said: “Huge market volatility as we have seen recently is often blamed for poor FX performance. However, in many cases this is simply a fig leaf which conceals failures in risk management.”
In his address, Mr. Sanjeev Nandwani, Development Commissioner, FALTA Special Economic Zone, Department of Commerce, Ministry of Commerce & Industry, said that Dun & Bradstreet and ECGC coming together to organize the conclave was timely and contemporary as these issues are extremely relevant in the present condition.
The conclave provided a unique opportunity for the exporter community to interact with industry veterans and exchange ideas on prudent risk management practices for building a healthy long-term export business. It had participation by dignitaries from the Government, financial institutions, industry bodies, export houses, corporates, banks, etc.
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“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.”
– Mr. Kaushal Sampat, President & CEO – India, Dun & Bradstreet