Webinar on pre-shipment and post shipment credit and export finance

Ludhiana, August 25, 2021: FIEO Punjab Chapter organised an Interactive Webinar on "Pre-Shipment & Post Shipment Credit & Export Finance on Wednesday, August 25, 2021.
 
Mr. Gaurang Vasavda ,  Trainer and Consultant on Forex Trade and International  Banking  along with Mr Harjeet Singh, Elite Trade Relationship Group Officer from ICICI Bank conducted the session.
 
While interacting with participants Mr.Vasavda said that, “The Credit and Finance is the lifeline for operating any business, in case of exports, the availability of finances, both before and after shipment of consignments play a vital role in the whole exports chain” and how  from the  beginning of exports business , any exporter or new comer in exports can execute his (small or large) orders with the availability of credit”.
 
He also added that the selling techniques are no longer confined to mere quality, price or delivery schedules of the products, but are also extended to payment terms between both the parties. The ability to extend attractive payment terms to the importer is often a huge part of winning an order and availability of finance gives exporters this leverage to extend certain favours to its buyer.
 
Mr Harjeet Singh representing ICICI Bank shared various new schemes and products offered by ICICI Bank to facilitate exports. He also shared his views on the future of Indian exports and Indian economic growth in the next few years or decade.
 
Mr. Sarvjit Singh, Convener, FIEO Punjab State Committee , during his address said that, “The objective for organizing such a session is to sensitize our exporting fraternity about the concept of Export Financing, which aims to maintain positive cash-flow cycle during the gap, improves short-term cash flow and boosts the businesses competitiveness in an international marketplace” He also added  that , “There is a large extent of mis-conception regarding the Export Finance (both Pre& Post shipment ) in Indian business environment, that even the prominent exporting houses, large or small, are much more unaware of the concept and the meaning of finance. Due to this, at times, they are  apprehensive about the process and expenses incurred to avail it”. 
 
The session was well attended by more than 120 prominent export house representatives.