Focus more on Tuna Fish: Expert
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Continuing its series of Seminar jointly with Citibank on "Strategic Export Management," FIEO organized the 3rd Seminar at Cochin on 21st May. About 70 exporters participated in the Seminar organized in association with Indian Chamber of Commerce and Industry, Cochin.. While inaugurating the Seminar, Mr. R. Mohandas, President, Indian Chamber of Commerce and Industry, Cochin, said that export-import management required knowledge about exim procedures, forex risk management, trade finance, strategies, marketing techniques |
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Mr. Anirud Maheshwani, Vice President and Cluster Head, Citibank, Chennai delivering special address. On the dais from left, Mr. Navnit Nakra, Asst. Vice President & Branch Head, Citibank, Cochin; Mr. R Mohandas, President, Indian Chamber of Commerce and Industry, Cochin; and Mr. R Asokan, Jt. Director, FIEO(SR) |
etc. He suggested that exporters should update their knowledge about changing market trends and resort to market intelligence to establish and sustain their presence in overseas markets.
Mr. Anirud Maheshwari, Vice President and Cluster Head, Citibank, Chennai, in his address said that foreign exchange business was by its very nature risky and success of trading in foreign exchange market depended critically on how well the exporter assessed and managed the risk, how he prevented losses from particular transactions and how he kept his overall exposure controlled.
Mr. Navnit Nakra, Asst. Vice President and Branch Head, Citibank, Cochin, said that in the wake of high volatility of Indian rupee, right exposure to various forex management tools like options, derivatives etc. would immensely help exporters. He advised exporters to seek expert advice from their bankers in this regard.
Mr. Anirban Banerjee, Asst. Vice President - Trade Operations, Citibank, Trade Finance Division, Mumbai, made a presentation on export credit. In his presentation, he explained common trade terms, common trade documents, various regulations governing trade and various costs involved during shipments, methods of LC negotiation and discounting, common discrepancies related to LC, etc.
Mr. Gautam Dass, Asst. Vice President, Treasury-Sales, Citibank, Mumbai made a presentation on Foreign Exchange Risk Management covering market techniques, factors influencing forex markets, currency volatilities, hedging strategies etc.
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Mr. S. Kumaravel, Manager-Applied Business, SICGIL India Ltd., made a presentation on "Identifying New Markets for Exports" with a special reference to "Processed Food Sector". In his presentation, he underscored the importance of market research and suggested that every exporter should have separate market research department in his organization or alternatively should hire the services of professional market researcher. As the world is moving towards quality improvement and value addition, there is an imminent need on the par t of the exporters to constantly research the current market trends and changing consumer habits so that the new products were not only in tune with the trend but also with health and nutrition standards, he said. |
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A view of the participants. |
To seafood & spice exporters, Mr. Kumaravel advised to reduce their dependence on frozen shrimps and concentrate more on other products like Tuna Fish, which is abundant in Andaman and Nicobar islands. He further advised spice exporters to resort to spice oils and oleoresins by using Super Critical Fluid Extraction Technology (SCFE), which he said, would take care of issues related to health and nutrition.
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Membership Renewal for the year 2008-09
Members who have not paid their subscription fee for the year 2008-09 may please remit the same at the earliest to enable us to continue with our services. In case of duplicate bill or any clarification kindly contact at the following numbers:
Northern Region: 011-46042143 Western Region: 022-40572201/40572213 Southern Region: 18497766/28497755/28493333/28494444 Eastern Region: 033-22831563/64/67 |
