GJEPC organised a webinar in collaboration with M1 Exchange on 10th September to educate gem and jewellery exporters on the benefits of bill discounting. The session focused on how this financial tool can enhance business operations and improve cash flow.
Bill discounting allows exporters to receive immediate payment for their invoices, instead of waiting for the due date, reducing the risk of delayed payments and improving overall financial health. M1 Exchange offers a platform for this service, providing exporters with access to liquidity and enhancing their cash flow management.
The guest speakers Vishal Kumar, Head of SME Business at M1 Exchange, and Rajesh Parthasarthi, Senior Director-Financial Institutions at M1 Exchange highlighted several benefits of bill discounting, including improved cash flow management, reduced risk of bad debts, increased liquidity, and enhanced business growth. The session also covered the process of bill discounting, eligibility criteria, and necessary documentation.
The GJEPC and M1 Exchange are committed to supporting the growth of the gem and jewellery industry. In the near future, they plan to offer a discounted registration fee for the gem and jewellery sector and explore the possibility of signing an MoU to further strengthen their partnership.