" Need to go in for foreign collaborations"
P . M . A Hakeen
CMD, Export Credit Guarantee Corpn of India
Delivering the keynote address in the inaugural session, Hakeem identified some of the inherent weakness in the approach to global projects. He stressed the need for pooling resources and the need to inculcate the ability to look at consortia approach beyond merely sharing risks. " If required Indian companies should not be averse to go in for collaborative agreements with foreign companies" to get a better grasp and understanding of operating in a foreign market.
Risk Insurance was another major areas which intending bidders for global projects would require to look into. Currently the amount of claims paid is nearly 450 per cent of the premium income.