The Buying Agent Association’s (BAA) summit underlines the risks faced by Indian export businesses
Educates Buying agents and Supplier Associations about frameworks that can help mitigate risk
• The summit was conducted in association with Services Export Promotional Council (SEPC)
• It was inaugurated by Ms. Sangeeta Godbole, Director General, Services Export Promotion Council (SEPC)
• Risk management practices across aspects like export credit, cyber space, forex, compliance and exports logistics, were discussed at the summit
New Delhi, December 15, 2018 – The Buying Agent Association (BAA), a think tank of buying agents across industries like Handicrafts, Apparel, Leather, Jewelry, and other labour intensive sectors, today conducted its summit on Risk Management, at India Habitat Center in the city in association with Services Export Promotional Council (SEPC).
The event started with the customary Diya lighting, done by Sangeeta Godbole (director- SEPC), O P Prahladka (Director – EPCH), Rakesh Kumar (Director – IEML) and Christine E Rai (chairperson – BAA).
Ms. Sangeeta Godbole, inaugurated the summit. It was attended by over 150 delegates from the export industry including Buying Agents, Supplier Associations and Sector Councils. Names of some of the prominent attendees included Vishal Dhingra (Vice Chairman, BAA), Sumit Chhabra (Vice Chairman, BAA), Vishaal Naraiin Sinha (Treasurer, BAA), Manoj Rana (Governing Body Member), Deepak Joshi (Governing Body Member), Nitin Mohan (Governing Body Member)
The summit brought together the leaders from the Indian export industry and risk management professionals to discuss the various risks faced by the industry, ascertain the industry’s preparedness to face these risks and come up with a framework that will act as a cushion to mitigate these risks.
Mr. Udit Raj, MP, North West Delhi constituency also attended and showed his concerns over the 12% GST paid by exporters. Mr. Raj emphasized that exporters are not normal traders but consultants, who contribute towards forex reserves of the nation. Hence, such a high rate of tax might not be justified. He had assured that he will offer his advocacy towards lowering the GST for the community.
Risk management practices across aspects like export credit, cyber space, forex, compliance and exports logistics, were discussed at the summit. Some of the experts who presented their views included Mr. R Radhakrishnan (Chairman Clearship Group), Dr. MVS Rao (Vice President, MTS), Mr. Anuj Tewari (Vice Chairman, Yes Bank), Ms. Swati Dakalia (Senior President, Yes Bank), Mr. Aman Dhall (Head Corporate Communication, Policy Bazaar) and Mr. Sristiraj Ambastha (Regional Manager, ECGC).
Ms. Sangeeta Godbole, Director General, Services Export Promotion Council (SEPC) said, “Buying agents offer a very important service to Indian exporters. They are a key partner, both for exporters and the government, in promoting India’s exports. They are the ones who understand international trends, find the right markets and connect exporters with the right international partners. They are also the custodians that ensure quality and reliability of exports and keep Indian exporters up to speed with the ever changing foreign trade requirements.”
Anchal Kansal, General Secretary, BAA, said, “From political uncertainties to currency fluctuations to delays in deliveries and credit risks, the exports business is saddled with challenges that are external in nature. The summit proved to be a great platform for buying agents and suppliers to come together, discuss the practices they follow to mitigate these risks and learn from professionals about the global risk management best practices. BAA is committed to raising the issues that affect the interests of buying agents and suppliers and finding the apt resolution for them.”
The ‘Buying Agents Association’ was formally registered on 14th July, 2016 with the active support of leading buying agencies and the Export Promotion Council of Handicrafts, to fulfill the expressed need of Buying Agents to get together formally and work to improve their standards and growth avenues. To know more about BAA, please visit: www.baa.org.in
