Export Documentation & Financial Solutions for SME

The Micro, Small and Medium Enterprises (MSMEs) are the backbone of the Indian Economy and play a vital role in employment. MSMEs depend on international trade for their activities as they either export their products through direct or indirect channels or import products to manufacture their products that they sell domestically.  World Trade Center Bhubaneswar collaborated with Engineering Export Promotion Council of India (EEPC) and Department of Commerce, Government of India to organize a “Capacity Building Program on Export Documentation and Financial Solutions for MSMEs” on a hybrid mode and with a a physical set-up at Bhubaneswar. The session intended to provide a detailed explanation about the integral aspects of establishing a successful export business.

Mr. S.K. Jena, Director, Directorate of Export Promotion and Marketing (DEPM) in his inaugural address spoke about the marketing assistance DEPM provides to SSI (Small Scale Industry) units and export assistance provided to the exporters for promotion of export activities. He drew attention towards the vital aspects of export promotion like quality control, production in accordance to demand, consumer behaviour, logistics, trade policies etc.

Mr. Sampad Nayak, Assistant Manager, DIC Bhubaneswar, in his address spoke about the export potential of the state. He also emphasized on the how the major bottlenecks of the sector can be addressed.

Mr. Rajen Padhi, Convenor, WTC Bhubaneswar International Trade & Export Promotion Think Tank & Founder, EXIM Consultancy spoke about the initiatives has undertaken by the center and deliberated on various others handholding initiatives proposed to facilitate the MSMEs of the state. He spoke about various challenges the exporters experience and the significance of export promotion councils to uplift the export scenario in the state. While highlighting how exports work as a propeller to the Indian Economy he explained about various schemes available for the manufacturers to help the nation integrate into the global supply chain and the advancement towards being a global manufacturing hub.

Prof. Rajendra Kumar Maru, Chief Mentor, Foreign Trade Management and Training Centre, delivered a detailed presentation on various documentation and registration processes an exporter or a potential exporter has to get registered into. He spoke about the significance, relevance and complete procedure involved for an Importer-Exporter Certificate (IEC). He also spoke about Registration-cum-Membership Certificate (RCMC) and according to the Foreign Trade Policy, RCMC is required for exporters in order to avail benefits under the policy.  He stated that holding the certificate can also help exporters in availing benefits with respect to Customs and Excise. In addition to that, he spoke about the export contract and its usage for the international sale of certain products (industrial supplies, raw materials, manufactured goods), which are projected for resale, where the buyer is a trader, importer, distributor or wholesaler that will sell the products to another company or merchant. Further, he also gave a precise presentation about Letter of Credit, Shipping Bill, Surveyors’ Certificate/Inspection Certificate, Certificate of Origin (Preferential &  Non-Preferential), Bill of Lading, Invoice, Packing List, Electronic Bank Realisation Certificate (e-BRC) and Credit Risk Management.

Mr. Kaushik Mitra, Senior Manager (BM), ECGC Limited, Bhubaneswar Branch in his address gave an overview of ECGC and its functionalities. He spoke about the methods of payment in International Trade, rules for various export modes, risk factors in export transactions (Commercial risks & Political risks), ECGC’s cover to the bank and various other policies of ECGC.

Mr. Dilip Mohapatra, Regional Head (Chhattisgarh and Odisha), Elite Trade Relation Group, Export and Import Division, ICICI Bank Ltd. gave a detailed presentation about the on financial schemes available for MSME exporters. He spoke about the products/services offered by ICICI Bank, Forex Remittance Solutions, Export Services, Import Services, Derivative/Forward Contracts, Bank Guarantee, Working Capital Facilities, Gold Medal Loans and Facilities for E-Commerce.

Earlier in the session, Mr. Pawan Sureka, Convenor, Engineering Export Promotion Council EEPC India Cuttack (Odisha) Chapter delivered the welcome address and spoke about the services and offerings of EEPC India.

The session further witnessed a highly interactive Open House Discussion.

Ms. Nimeshika Natarajan, Assistant Director, World Trade Center concluded the session by thanking the co-organizers and participants for the successful execution of an insightful session.

Ms. Anima Pandey, Regional Director and Director (Membership), EEPC India moderated the session and proposed the vote of thanks.