Gujarat International Finance Tec-City, India - Tuesday, 28 February 2023
On 27 and 28 February, the FCI team headed to Gujarat International Finance Tec-City in India to host “The Digital Revolution of Receivables Finance in GIFT City”, the first in-person event for FCI in the South & South East Asian region since 2018. FCI’s team, including Peter Mulroy, FCI Secretary General, and Thompson Lui, FCI Regional Manager, were joined by the FCI Marketing Committee Members, Sarah Pon, Joao Costa Pereira and Danny Hsu. The aim of this event was to promote our industry in this rapidly growing region.
Over the 2 days, we welcomed over 120 industry professionals to network, learn and discuss all things factoring and receivables finance with those both working in and interested in getting into this niche but rewarding market. Gujarat International Finance Tec-City (GIFT City) is a planned business district in the state of Gujarat, India. It is the new business destination offering a competitive edge to financial services and Technology related activities. We felt it was the perfect place to host this gathering as we all look into the future of Trade Finance for this region.
Day one started off with Welcome Remarks by Mr. Peter Mulroy, where he reflected back on FCI’s visits to India and how we look forward to growing and nurturing the relationship. Peter introduced the Keynote speaker, Shri. Injeti Srinivas, Chairperson of International Financial Services Centres Authority (IFSCA). Shri Srinivas shared his thoughts on the partnership between FCI and IFSCA. Mr. Dipesh Shah, Executive Director for Development at the IFSCA, shared the opportunities in GIFT IFSC. He shared the vision of the Prime Minister for GIFT IFSC, India’s IFSC features, structure, activities and the new Regulatory Architecture as well as highlighting the opportunities for FCI members on the ITFS platform. Peter then presented an overview of the Global Factoring Industry and FCI. Mr. João Costa Pereira, Banco Ourinvest Trade Desk and FCI Marketing Committee Member, moderated the panel discussion on Receivables as an Investable Asset Class, featuring panellists; Mr. Jinchang Lai, IFC - International Finance Corporation Principal Operations Officer, Asia and Pacific, Financial Institutions Group; Mr. Ranadeep Mookerjee, ICICI Bank Regional Head Structured Trade Sales and Mr. Pramit Joshi, Credlix Senior Director.
Attendees listened to a panel discussion on Factoring Platforms, Market Places & Supporting Technology, moderated by Mr. Ashutosh Sharma, IFSCA General Manager for Development. Panellists including Mr. Kalyan Basu, Vayana TradeXchange Managing Director & CEO; Dr. Azam Pasha, Maalexi CEO & Co-Founder; Mr. Federico Avellan Borgmeyer, efcom Chief Partner Officer and Mr. Ketan Gaikwad, RXIL Global Director, shared their expertise on this subject. Participants then heard from each of our Gold sponsors, where they both presented and spoke about who they are and the work they are doing in the region. Mr. Pankaj Mundra, 360tf Co-Founder & Chairman, shared the latest insights from the first-of-its-kind Indian Corporates-focused Export Finance Survey examining business profiles, trade metrics, widespread issues, facilities and agreements.
On day two, the morning was focused on educating participants of the Mechanics of Factoring in FCI, Ms. Sarah Pon, Unicredit Factoring Spa International Relationship Manager and FCI Marketing Committee Chairwoman. Mr. João Costa Pereira, Banco Ourinvest Trade Desk and FCI Marketing Committee Member, shared a presentation on the FCI framework and how the platforms work in FCI. Following this, the audience heard an explanation of the FCI best deal winner transactions presented by Mr. Danny Hsu, Taishin International Bank Assistant VP-Factoring Product Team Head and FCI Marketing Committee Member. He also shared various case studies on fraud and dilution risk.
Ms. Aysen Cetintas, FCI Education Director, shared by video an update from FCI Academy. She highlighted the importance of capacity building and knowledge sharing in the factoring and receivables finance industry. The audience was then presented with a role play on a transaction so they could understand the various points of communication in a standard cross-border transaction. João narrated the role play while the 4 corners were played by Sarah as the Import Factor; Danny as the Importer; Mr. Ananda Sengupta, ICICI Bank Head Credit, Distributions & Portfolio Management - International Financial Institutions and Sovereign, as the Export Factor, and Mr. Rahul Poddar, Arvind Limited Senior Manager, as the Exporter. Following the role-play, Danny moderated the panel discussion on regulation & legal framework, where panellists shared their expertise on this. Panellists included Mr. Ravi Valecha, India Factoring & Finance Solutions CEO; Mr. Raj Khosa, IFSCA Senior Consultant; and Ms. Manjusha D. Tailong, MNS Credit Management Group Assistant General Manager for Client Relation. Finally, Peter, Sarah, João, Danny and Thompson went up on stage to share the key takeaways of the two-day conference and share their experiences, ending with the concluding remarks by Peter.
Overall, this event was a great success. This brought the spotlight for many FCI members to India, sharing its business potential and interest in expanding further into the global market. FCI looks forward to returning to India for another instalment.