The Hyderabad seminar was an interesting experience. For starters, it rained cats and dogs. The rains that started half an hour before the seminar had not stopped by the time I was boarding the flight back the next day. My thanks to all the CEOs and MD's who braved the rains and made it to the seminar.
We had a very interesting panel discussion, that invarialy kept on coming back to China.
In his earlier piece in DARE, Phil Anderson argues that you cannot have a high growth venture without having a presence in China. Almost all our participants seemed to share a similar feeling and wanted to engage with that country. But there were questions; and there were fears. There were those who wanted to figure out how to find opportunities in China and there were those who were being contected with orders, but wanted a mechanism to verify the antecedents of the companies placing those orders.
There were a couple of horror stories also that were shared; of cancelled orders and of shipments that were empty boxes.
Since a Sr. VP from HSBC Bank was on the panel, it was only natural that there were many questions on foreign currency hedging, LCs and the like.
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| Mr. Krishan Kalra, Secretary General, PHD Chamber of Commerce and Industry |
We will be carrying a detailed report on the event in the September issue. Meanwhile, here is a quick summrary of the key conclusions.
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1. Exercise caution in engaging with new foreign trade partners. A visit and face to face meeting is best. If that is not possible, try to verify their antecedents through chambers of commerce, Industry associations, your bank or ask for references.
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| Mr. Surath Sengupta, Sr.Vice President, HSBC | Mr. Anand Saklecha, Anand Saklecha & Co |
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| Mr. P. Balaraman, Asst. Director, Pharmaceuticals Export Promotion Council | Mr. Ramesh Loganathan, VP (Products) & Center Head, Progress Software Development |
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