Spenta's Maneck Davar appointed on government’s export promotion bodies

Maneck Davar, the managing director of Spenta Multimedia has been appointed on two bodies of the Ministry of Commerce, the Export Credit and Guarantee Corporation (ECGC) and Services Export Promotion Council (SEPC). Davar will be the independent director of the ECGC and the vice chair of SEPC.

08 Jan 2018 | By Sriraam Selvam

Davar said, "I am happy to be associated with a listed company and with a people-oriented business."

The ECGC is wholly owned by Government of India. It was set up in 1957 with the objective of promoting exports from India by providing credit risk insurance and related services for exports. Over the years it has designed different export credit risk insurance products to suit the requirements of Indian exporters. ECGC is essentially an export promotion organisation, seeking to improve the competitiveness of the Indian exports by providing them with credit insurance covers.

Here Davar said, "Specific to the printing industry if anyone is exporting, I would advise them to get export cover. Moreover, with our facilities and risk covers, we are probably the best in the industry. If printers are exporting their products, we are the LIC of the export industry."

The ECGC has introduced export credit insurance schemes to meet the requirements of commercial banks extending export credit. The insurance covers enable the banks to extend timely and adequate export credit facilities to the exporters. ECGC keeps its premium rates at the optimal level.

ECGC provides (i) a range of insurance covers to Indian exporters against the risk of non–realisation of export proceeds due to commercial or political risks (ii) different types of credit insurance covers to banks and other financial institutions to enable them to extend credit facilities to exporters and (iii) Export Factoring facility for MSME sector which is a package of financial products consisting of working capital financing, credit risk protection, maintenance of sales ledger and collection of export receivables from the buyer located in overseas country.

About SEPC, Maneck Davar said "At SEPC, the print is seen as a service. For eg, pre-press work will be classified as a services export. Only thing is, print firms will have to be a member of the SEPC to avail service export benefits."

SEPC is an Export Promotion Council set by the Ministry of Commerce & Industry, Government of India. SEPC is an apex trade body to facilitate service exporters of India and serving as a platform of interaction between service exporters and policymakers. SEPC has been instrumental in promoting the efforts of Indian service exporting community. The Council has Completed six years of its existence and got a strong membership base of more than 1800 members from its 14 service sectors (print is one of the services) which come under the purview of SEPC.