ESC Seminar held at Technopark- “ICT Export Initiatives and Currency Future”
Posted on June 20th, 2009 in Uncategorized) by news |
ESC — MCX SX to focus on Currency Hedging ……….
Technopark in collaboration with The Electronics and Computer Software Export Promotion Council (ESC) and MCX SX, a commodity exchange organised a seminar on “ICT EXPORT INITIATIVES & CURRENCY FUTURES” in Malabar Hall , Technopark, Thiruvananthapuram on 18th June 2009. “
Dr. Ajaykumar IAS, IT Secretary, Govt of Kerala was the Chief Guest for the function presided over by Mr. D.K Sareen, Executive Director, ESC. Mr. Mervin Alexander, CEO Technopark and Co- Chairman of ESC Kerala Chapter welcomed the gathering and Mr.Sunil Gupta, CEO, Collabera and the Chairman of ESC Kerala Chapter delivered the vote of thanks. Mr. Aravind M, A VP, Kerala & TN Circle, MCS SX delivered a talk on “Currency Futures- An online hedging tool for corporates”
Dr. Ajaykumar IAS said that “Kerala’s software exports are increasing drastically and pointed out that the exports during 2008-09 was 3 times higher than during the previous year. This is made possible due the SME companies operating out of Technopark and Infopark. The ESCs support will help these SMEs companies to become International and become globalised faster”
At a time when the currency fluctuations and export uncertainties are taking their toll, it is imperative that the exporters should increasingly resort to currency hedging to stabilise the value of their transactions,” says Mr D K Sareen, Executive Director, ESC.
The seminar would empower the exporters, banks, investors, corporations etc to hedge their currency risk at lower transaction costs with greater transparency and safety says Mr Sareen.
Besides large users, hedging benefits small and medium enterprises and resident Indians who hitherto did not have easy access to and better bargaining power in the currency market, says Mr Mervin Alexander, Co Chairman, ESC Kerala Committee.
Courtesy: www.technoparktbi.org