There is no denial in saying “The first step of Risk Management it to acknowledge the existence of Risk”. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning. And, the key to risk management in an industry like agriculture is to make it a part of strategic planning & keep “Risk” at the core of any activity be it warehousing, transportation, financing, procurement, etc. Most of the time, risk management work is only regulatory but it is essential to make it a part of strategic decision making as it is the key ingredient to success.
Amidst the galaxy of business leaders and risk managers, the India Risk Management Awards got to honour and celebrate those organisations that have successfully identified, managed and mitigated risks to create big business impact stories. On Thursday 7th July, all the leading entities in global risk business gathered at CNBC India Risk Management Awards ceremony held at Hyatt Regency, Delhi. Luck is what happens when opportunities meet preparation and that is a good way to describe and define, to take a Calculated Risk. A purposeful & responsible organisation will always manage risks better and more effectively.
A great variety of different sectors and industries from pan India were present and showcased their thoughts on effective risk management during on and off the time of crisis. Shereen Bhan, Managing Editor – CNBC TV18, orator of the ceremony, stated different instances of key factors associated with risk management in distinguished sectors. This award went to what the judges deemed to be the best agriculture, retail, education, hospitality, healthcare and automotive company in their respective sectors. With a paradoxically long shortlist for this award, the judges had a tough time picking the best company for Risk Management Awards, Shereen added.
The jury felicitated Sohan Lal Commodity Management Pvt. Ltd. (SLCM) with a vision to demonstrate that they clearly manage environmentally responsible supply chain in the agri sector. The Groups’ achievements, specifically being an innovator in the warehouse management field has left its mark amongst different contemporaries of the sector. The company has concurrently managed to roll out new and efficient products alongside services, which have played significant role in the agri logistics environment. Ranging from AGRI REACH which has aided in overall reduction of post harvest losses to Kissandhan, an agriculture financing option for farmers which is transforming borrowing and lending norms. This has been a remarkable achievement especially if one notices the timeline for every task that has been accomplished.
SLCM Group is a company that has continuously developed a long standing commitment to risk driven involvement in sustainable activities, resulting in no defaults or NPAs even during the turbulent times that the industry is facing today. While receiving the award from Honourable Vice Chairman of Niti Ayog, Mr. Arvind Panagariya, Mr. Sabharwal, Group CEO – SLCM said, “In agriculture life has to change every day and adaptability is the keyword here. Risk in commodity market, especially in agriculture warehousing and agriculture logistics space is often read wrongly. He further added; what is risk? I think, our perception of risk is wrongly read.” This Risk award in agriculture is an integrated part in the achievements of the company amongst several accolades to its credit.
Later, Shereen Bhan congratulated him and asked about the future plans of the company with optimism that is a required trait in a business like agriculture. To which he answered, “From where I stand today, the biggest optimism is about the idea and the perception of the change of people in India and across the world on what risk is in agriculture? I think as we go forward, I am also optimised by the fact that we are settled on a huge culmination point and we will be seeing a whole SeaWorld of policy change; whether it is regulatory or otherwise. And, I think this is going to take India forward especially in the global map”.