Handbook for SME exporters released

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SME Times News Bureau | 25 Jan, 2010
To address the issues of small exporters, a handbook for Indian Small and Medium Enterprises (SMEs) on 'Managing Risks and Securing payments in Exports' was released by Madhav Lal, DC and Additional Secretary, MSME recently in New Delhi.

Published by the Federation of Indian Micro and Small & Medium Enterprises (FISME) under project 'Strategies and Preparedness for Trade and Globalization in India' which is being implemented jointly by Ministry of Commerce and Industry, UNCTAD (India) and DFID (UK), the handbook views that one of the major external barriers in SMEs' efforts to exporting is payment related risk.

The handbook attempts to address the information failure in three major areas: Credit Reports, Export Inspections and Debt Collection. It provides for the first time a detailed directory of agencies that SMEs can approach for these three specific requirements.

Beginning with description of various payment instruments used in international trade, the guide provides valuable tips and precautions in using various payment instruments like advance payments, documentary collections and letters of credits (LCs).

The guide also covers the issues like export credit Insurance and credit report and gives some comprehensive lists of companies providing these services.