Financial Daily from THE HINDU group of publications
Thursday, Feb 16, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 16, 2006 |
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Industry & Economy
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Exports & Imports `Credit insurance essential in export management' Our Bureau
Mangalore , Feb. 15 CREDIT insurance is essential in export management, according to Mr Srinivasan, branch manager of Export Credit Guarantee Corporation of India Ltd, Mangalore. He was speaking at The Hindu Business Line Club event at the Aloysius Institute of Business Administration in Mangalore on Wednesday. Mr Srinivasan said credit insurance should be in place while finalising agreements in exports. Credit insurance is needed because of the commercial and political risks involved in export management. Quoting a statement of the Union Commerce Minister, he said India would achieve at lest one per cent of the total world trade by 2007. The Union Government has set an export earning target of $92 billion for 2005-06. Gems and jewellery, textiles, chemicals, engineering goods, leather, and agriculture products are some of the export commodities of the country, he said. On export management, Mr Srinivasan said one should assess one's export potential before venturing into it. It is essential to do research on the export market. This will help in identifying the target market, and know about the demand and difficulties in the target market. Mode of payment and issues related to that, and obligations and conditions related to export market should be taken care of, he said. Mr T. Ravi, Senior Regional Manager, The Hindu, Mangalore, who welcomed the gathering, explained about the objectives of The Hindu Business Line Club. Fr Denzil Lobo, Director of Aloysius Institute of Business Administration, spoke on the occasion. Dr P.G. Aquinas, Dean of the institute, and Mr Monnappa, Assistant Regional Manager, The Hindu, Mangalore, were present on the occasion.
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