Gurgaon, November 2024: The Federation of Indian Export Organisations (FIEO) recently hosted a high-profile event in Gurgaon to explore solutions for India’s export sector, in keeping with India’s $2 trillion milestone by 2030. The event brought together industry leaders, policymakers, and subject matter experts, including Dr. Ajay Sahai, Director General and CEO, FIEO, as the chief guest. Policybazaar for Business (PBFB) actively participated, sharing insights on how risk mitigation can support exporters in navigating global uncertainties.
Policybazaar for Business: Advocating Risk Management for Exporters
Policybazaar for Business participated in this event and provided perspective on safeguarding exporters’ operations in a volatile global trade landscape.
Arpita Suyal, Head – Marine Insurance at Policybazaar for Business, said, “Exporters face a wide range of risks be it transit-related damages or geopolitical instabilities or climate-induced disruptions. The idea is to enable the businesses to focus on expansion rather than apprehensions with user-friendly and almost intuitive marine insurance policies. At Policybazaar for Business we are committed to doing just that. Flexibility in insurance plans like Single Transit and Annual Open Covers to Sales Turnover Policy, allows exporters to choose based on their specific trade requirements. Then, one has to ensure that claims processes are straightforward and swift – that is the ultimate moment of truth for any customer. Real-time updates, buyer risk assessments, and proactive support help win over customer trust”.
Suyal also shared detailed case studies that illustrated how Policybazaar for Business’ marine insurance solutions had mitigated substantial risks for exporters in scenarios involving shipment delays due to natural calamities and losses caused by unexpected geopolitical developments.
Attendees and key discussions
The event was attended by representatives from across sectors, including exporters, government officials, and insurance providers. Mr. Bharat from Marine Underwriting, Bajaj Allianz, shared his expertise on global instability and its impact on trade and insurance, covering factors like geopolitical shifts, climate change, and inflation.
Dr. Sahai’s keynote address underscored the importance of addressing labor and environmental concerns, enhancing R&D, and strengthening India’s shipping capabilities to remain competitive globally. He emphasized leveraging India’s position in the global supply chain and adopting a collaborative approach to overcome challenges.
Opportunities and a shared vision
While challenges remain, the discussions highlighted opportunities for India, such as the “China Plus One” strategy, tariff shifts, and aggressive free trade agreements. Initiatives like Rupee Invoicing, Plug-and-Play Facilities, and enhanced e-commerce exports are set to further drive growth.
Policybazaar for Business, with its tailored insurance offerings and commitment to exporters, is positioned as a key partner in this journey, ensuring businesses can operate with confidence in an unpredictable global market.
