If not mistaken this is exactly how Oanda got their foothold so strong in this market so it’s an interesting way to penetrate the highly attractive yet difficult (regulatory-wise) market. I’m sure the idea is to promote the company locally so that the main target audience of retail traders can get to know the company while not risking it with the authorities.
Financial services company Alpari India plans to launch advisory desk for small and medium enterprises (SMEs) in Gujarat. Part of Alpari Group of companies, the company will arrange for an exclusive SME and Corporate Advisory Desk at the upcoming Gujarat Manufacturing and Technology Show scheduled from January 10 to January 13, 2011, as a part of Vibrant Gujarat 2011 initiative.
The advisory desk will assist units from the SME sector in addressing their currency risk exposure. “Small and medium enterprises (SMEs) play an extremely vital role in the growth of Indian economy by contributing to about 45 per cent of industrial output and around 40 per cent of exports.
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Due to its large export base, and considering the fact that off late currency markets have become highly volatile, the risk that the sector is exposed to gets even higher,” said Pramit Brahmbhatt, chief executive officer, Alpari India.
The company intends to sensitise SMEs about trading beyond borders, risks associated with realisation of payments as well as risks associated with the amount actually realised on a particular date in rupee terms.
“Such risks contribute to a large extent in making the sector insecure about its currency exposure and therefore the need for a proper guidance and assistance. We believe that the Vibrant Gujarat initiative presents an excellent platform for SMEs to discuss issues of this kind,” said Brahmbhatt. Meanwhile, being conducted biennially since 2003, the Vibrant Gujarat 2011 Summit aims to facilitate investment alliances for the participating countries.
Alpari Forex (India) Pvt. Ltd. has 31 offices in 11 countries including Mumbai, London, New York, Shanghai, Dubai, Moscow and Frankfurt and serving more than 150 countries. The company services more than 340,000 live accounts globally.