GJEPC trains MSME jewellers on credit ratings
The Gem and Jewellery Export Promotion Council has held a webinar for micro, small, and medium enterprises to teach them the importance of credit ratings in the gem and jewellery industry.
As many MSMEs struggle once again with a halt to business caused by local lockdowns, the GJEPC’s tailored webinar taught over 100 entrepreneurs from India and abroad how to harness the system for their business’ development. The webinar featured an interactive panel discussion with Care Ratings’ group head of corporate ratings, Hitesh Avachat and Care Ratings’ senior manager, Ujjwal Patel, the GJEPC reported on its website.
The knowledge sharing session covered topics including the concept and characteristics of credit rating, the risk assessment framework for credit rating including business risk and financial risk, the rating process, and the benefits of credit ratings to corporates among other topics.
The webinar comes at a time when many struggling jewellery MSMEs may be looking to borrow funds to stay afloat. The GJEPC and Care Ratings representatives explained the benefits of credit ratings such as the lower cost of borrowing and the proper pricing of debt. They also covered the parameters or rating for the gold and diamonds value chain including mining, trading, manufacturing, wholesale, and retail.
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