April Bulletin 2016 - PHD Chamber of Commerce and Industry

Transcription

PHD Chamber Bulletin 8 April 2016
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April 2016  PHD Chamber Bulletin
Contents
Total No of Pages -98
PRESIDENT WRITES
5
CHAMBER AT WORK
6
FOCUS STATES
40
COHESIVE INTERFACE
58
SPECIAL FEATURE
• Union Budget, 2016:
A monthly news bulletin
of PHD Chamber
President
Mixed bag of contentment and despair
63
Dr. Mahesh Gupta
• Was it the Common Man’s Budget???
67
Senior Vice President
Mr. Gopal S. Jiwarajka
• Mixed Blessings apropos the Indirect Taxes
in the Union Budget, 2016-17
68
EXPRESSIONS
• Coaching a value-driven approach
to sustainable family-owned businesses
70
ECONOMY-WATCH
• Policy Pronouncements and Developments
Vice President
Mr. Anil Khaitan
Editor:
Mr. Saurabh Sanyal
Secretary General
71
HEADWAY
• Skill Development Initiatives
75
• Towards Inclusive Growth
80
COMMUNIQUE
• Media Buzz
86
• Bureaucratic Movements
90
• New Members
90
• Forthcoming Events of PHD Chamber
91
• International Exhibitions 2016-17
93
PHD CHAMBER ARCHIVES
96
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e-mail : [email protected]
Readers please write to us
We welcome your feedback and
suggestions:
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[email protected]
For further information, please contact:
PHD CHAMBER OF COMMERCE AND INDUSTRY
PHD House, 4/2 Siri Institutional Area, August Kranti Marg, New Delhi-110016
Phone : 91-11-26863801-04 Fax : 91-11-26855450 Email : [email protected] Website : www.phdcci.in
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President Writes
President Writes
Dr. Mahesh Gupta
President, PHD Chamber
Chairman, Kent RO Systems Ltd.
Friends,
As head of this prestigious organization, I concur with George Washington’s famous quote, “...it is essential that you should
practically bear in mind that towards the payment of debts there must be revenue; that to have revenue there must be taxes; that
no taxes can be devised which are not more or less inconvenient and unpleasant.” Having said this, I welcome Finance Minister
Arun Jaitley’s tax reforms announced in the 2016-17 Union Budget that will help ‘Transform India’ and continue to support the
theme of a stable, simple and non-adversarial tax framework.
The Chamber mainly focuses on MSMEs and downstream industries. In this context, industry welcomes the announcements
proposed for MSMEs and Start-ups which coincide with the initiatives of ‘Make in India,’ tax breaks for Start-ups and nontaxing of capital gains, in addition to a special patent regime all facilitating the ease of doing business. Industry views that the
budget proposals will broaden the tax base with special focus on small tax payers.
Equally encouraging is the budget’s thrust on reducing litigation and the payment of disputed tax demands as well as reduced
and more objective penal provisions. Industry applauds the increase in turnover limit under presumptive taxation scheme to Rs.
2 crores from the existing Rs.1 crore as it comes as a respite for MSMEs who will not be required to maintain detailed accounts.
However, this proposal may lead to double taxation which needs to be carefully looked into.
I commend the Finance Minister for introducing a road map for phasing-out many exemptions granted to corporates and for
the process of lowering corporate tax rates for manufacturing based Start-ups. Having said this, the industry was expecting an
actual phased reduction in corporate tax rate to 25 percent to begin in 2016-17 across all categories as announced by the Finance
Minister in budget 2015-16. I expect further clarification on how the tax exemptions will be gradually tuned. Industry is also
concerned with the government’s proposal of introducing an additional dividend tax that will result in higher taxation for super
rich and discourage them from investing.
I would like to comment on the proposal of increase in the limitation period of show cause with regard to service tax from 18
months to 30 months. This could lead to unnecessary delays in assessment mechanism and this may be detrimental for industry.
Industry needs to examine how the ‘The Income Declaration Scheme, 2016’ might work in fine print as many individuals who
evaded disclosing their incomes earlier may not respond to this call either. The government could curb the generation of black
money by checking trade malpractices through greater coordination with trade and customs authorities of different countries.
Going ahead, the Chamber would continue to advocate for setting up a more rationalistic tax structure that would be beneficial
not only for industry but also for the common man. The implementation of GST at the earliest is imperative to fast track
economic growth and boost consumer confidence. Given the government’s intent to stick to its path of fiscal consolidation, we
look forward to an interest rate cut or more liquidity in the system for capital investment. Given the numerous schemes that have
been announced in the budget, it will be important to deliver on the promises made through effective on-the-ground execution.
In continuation of PHD Chamber’s drive to promote economic, social and cultural ties between diplomatic organizations and
industry, our annual Ambassadors’ Meet held in March was a resounding success. Gen Dr. V. K. Singh, (Retd), Hon’ble Minister
of State for Statistics & Program Implementation & Minister of State for External Affairs was the Chief Guest and more than
80 Ambassadors, High Commissioners and Diplomats networked informally over dinner with industry members, which was
both engaging and invigorating.
With all these achievements and road map lined out, let us remain inspired and work diligently to create a New India exalted by
investment-led growth!
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Chamber at Work
AMBASSADORS’ MEET
Fostering International Economic Cooperation
P
HD Chamber organized its annual Ambassadors’
Meet, an informal get-together with the
Ambassadors/High Commissioners/Economic
and Commercial Counselors and Senior Diplomats of
various countries in India on March 19, 2016 at PHD
House, New Delhi.
Chief Guest, Gen. (Dr.) V.K. Singh (Retd), Hon’ble
Minister of State (Independent Charge) for Statistics
& Program Implementation & Minister of State for
External Affairs appreciated the Chamber’s unique
event to promote business and social linkages between
the diplomatic organizations and industry.
The Hon’ble Chief Guest highlighted the significance
of business chambers and diplomatic community’s
active participation in promoting economic ties between
India and other countries. He also mentioned about
India becoming an attractive destination for foreign
investments and urged everyone to interact with their
counterparts around the world for mutual benefits. He
suggested greater joint venture arrangements between
countries as they provide mutually beneficial conditions.
He also stressed on the fact that ‘Ease of Doing Business’
is imperative for attracting fruitful investments and
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Chamber at Work
business to any country. He invited business chambers to
regularly provide inputs and suggestions that will facilitate
the government to make proper and desirable policies.
Dr. Mahesh Gupta, President, PHD Chamber welcomed
the guests and said that through this event, which is
being organized for almost three decades, the Chamber
endeavours to get the diplomatic community and the
business community together for an interaction in an
informal atmosphere that lays the building blocks of longterm relationships. He lauded the government’s initiatives
like ‘Digital India’, ‘Start-up India’, ‘Skill India’, ‘Swach
Bharat’ amongst others that have created positive signals in
India and globally. He mentioned the ‘Act East Policy’ and
highlighted the Government’s renewed focus on building
cordial and inclusive ties with Asian and African countries.
Believing in PHD Chamber’s motto, ‘In Community’s Life
and Part of it,’ as a goodwill gesture and to encourage CSR
activities, PHD Chamber donated wheel chairs, walkers
and crutches to the Hon’ble Minister for the differentlyabled persons of Ghaziabad, Uttar Pradesh, India, which
was highly appreciated by the Minister.
This year, over 80 diplomats including Ambassadors/High
Commissioners/Economic and Commercial Counsellors/
Senior Diplomats representing more than 50 countries Afghanistan, Algeria, Azerbaijan, Bangladesh, Belarus,
Bhutan, Bolivia, Bosnia & Herzegovina, Brazil, Brunei
Darussalam, Burundi, China, Dominican Republic,
Eritrea, France, Guinea , Guyana, Guyana, Indonesia, Iraq,
Kazakhstan, Korea, Kyrgyz Republic, Malawi, Malaysia,
Mauritius, Mongolia, Nepal, Niger, Oman, Palestine,
Philippines, Portugal, Romania, Russia, Rwanda,
Senegal, Slovak Republic , Slovenia, South Africa, Sri
Lanka, Sudan, Syria, Thailand, Turkey, United States
of America, Uzbekistan, Yemen, Zambia & Zimbabwe
attended the event.
Senior state/central government officials from various
ministries/departments and officials from international
organizations like Ministry of External Affairs,
IRCTC, Indian Council for UN Relations, Chandigarh
Administration, AALCO, International Committee
of the Red Cross, BHEL, Indian Renewable Energy
Development Agency Ltd, EXIM Bank, Indian Military
Review and senior defence officers, etc. also graced the
occasion.
The event also included performance by a young, vibrant
and upcoming Indian band ‘Raagleela’’, who played their
original compositions of fusion music with classical
vocal.
The event was sponored by Seftech India Pvt. Ltd.;
Tractors and Farm Equipment Limited; Audi Delhi
South; Bry-Air (Asia) Pvt. Ltd; DS Group; MBD
Group; South Asia Gas Enterprise; Kajaria Ceramics
Ltd.; UFLEX Ltd., Yamuna Power and Infrastructure
Ltd.; Paramount Cables, The Malt Company and Vinko
Auto Industries Ltd.
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Chamber at Work
Glimpses of
Ambassadors’ Meet - 2016
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Chamber at Work
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Chamber at Work
Need of Environmentally Sustainable Urban
Transport System in India
Dr. Ranjeet Mehta, Director, PHD Chamber; Mr. Ashish Mohan Wig, Chairman, Roads, Ports & Other Infrastructure Committee, PHD Chamber; Mr. Satyendar Jain,
Hon’ble Minister of Public Work Department, Govt. of NCT Delhi; Mr. Gopal Jiwarajka, Sr. Vice President, PHD Chamber; Mr. Suyash Gupta, Director General, Indian
Auto LPG Coalition and Mr. Saurabh Sanyal, Secretary General, PHD Chamber
T
he Roads, Ports and Other
Infrastructure Committee
of
PHD
Chamber
organized a conference on ‘Need
of Environmentally Sustainable
Transport System in India’ on March
2, 2016 at PHD House, New Delhi.
Chief Guest, Mr. Satyendar Jain,
Hon’ble Minister of Public Works
Department, Govt. of NCT Delhi
emphasized that pollution has
become a serious menace to handle
for authorities and as a result
ensuring cleaner fuel for transport
sector is one of the top priorities
of the Delhi government. The
government plans to encourage
electric vehicles for movement
of masses including goods and
commodities in course of time.
Guest of Honor, Mr. Sanjay
Bandopadhyaya,
IAS,
CEO,
National
Automotive
Testing
and R&D Infrastructure Project
(NATRiP) highlighted the role being
played by NATRiP and said that the
project aims at creating core global
Mr. Apurba Dhar, Director – Business Development, RATP Dev Transdev India Pvt. Ltd.; Dr. Anuradha Shukla, Chief Scientist, Central Road Research Institute;
Mr. Ashish Mohan Wig, Chairman, Roads, Ports & Other Infrastructure Committee and Dr. Ranjeet Mehta, Director, PHD Chamber; Dr. Sudhir Krishna, Former
Secretary, Ministry of Urban Development, Mr. Raghav Gupta, India Country Manager, BlaBlaCar and Mr. Prasanna Patwardhan, CMD, Prasanna Purple Mobility
Solutions Pvt. Ltd.
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Chamber at Work
competencies in the automotive
sector in India and facilitates
seamless integration of the Indian
Automotive industry with the world.
Mr. Gopal Jiwarajka, Senior Vice
President, PHD Chamber in his
welcome address said that urban
transportation problems in India
have manifested in the form of
congestion, delay, accidents, energy
wastage as well as pollution and all
these have heavy economic, social
and environmental costs.
Mr. Ashish Mohan Wig, Chairman,
Roads, Ports & Other Infrastructure
Committee,
PHD
Chamber
suggested that there is no one-sizefits-all strategy or solution to the
complex transport challenges facing
Indian cities.
Mr. N K Lamba, Sr. VP (Alcohol Business), Daurala Sugar Works; Mr. Sharat Sharma, Director (Operations),
Delhi Metro Rail Corporation Ltd; Dr. Ranjeet Mehta, Director, PHD Chamber and Mr. Sameer Sinha, President Corporate Planning & Sugar Business Group Co-products, Triveni Engineering & Industries Ltd.
the existing challenges & suggested
the way forward for promoting eco
mobility, alternative fuels and electric
mobility.
Dr. Ranjeet Mehta, Director, PHD
Chamber delivered the formal
vote of thanks and concluded the
conference.
More than 25 speakers from both
the Central Government and Govt.
of NCT Delhi as well as from the
private sector shared their views on
Distinguished delegates attending the conference
Mr. Pravin L Agrawal, Director, Dept. of Heavy Industry, Ministry of Heavy Industries & Public Enterprises; Dr. Kulwant Singh, Regional Advisor – Urban Basic
Services, United Nations Human Settlements Program; Dr. Ranjeet Mehta, Director and Mr. Sanjeev Ahuja, Co-Chair, International Affairs Committee, Asia Pacific,
PHD Chamber Mr. V Vijayakumar, Divisional Manager – Electric & Hybrid Vehicle Technology, Ashok Leyland and Mr. Shyam Maller, Sr. VP (Sales, Marketing &
After Market), Eicher Trucks & Buses
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Chamber at Work
Budget Viewing Session 2016 -17
Dr. Mahesh Gupta, President PHD Chamber, Mr. Saurabh Sanyal, Secretary General PHD Chambr; Mr. Atul Kumar, Chief General Manager, NHAI, Mr. Gopal
Jiwarajka, Senior Vice President, PHD Chamber, Dr. Ajay Dua, Former Secretary, DIPP, Mr. Anil Khaitan, Vice President, PHD Chamber, Mr. Prabhat Jain,
Chairman, Economic Affairs Committee, PHD Chamber, Dr. J. Bhagwati, RBI Chair Professor, ICRIER and Mr. Akhil Bansal, Co-Chairman, Economic Affairs
Committee, PHD Chamber
T
he
Economic
Affairs
Committee of PHD Chamber
organized the Budget viewing
session on February 29, 2016 at PHD
House, New Delhi.
that the allocation under the current
budget for the road sector will be
increased and tax exemptions for
funds allocated for road safety would
be provided.
Dr. Mahesh Gupta President, PHD
Chamber welcomed the panelists and
distinguished guests and expressed
that there are challenging and exciting
times ahead as the entire world is
facing a slowdown. He highlighted the
expectations from the Union Budget
2016-17 and opined that the budget
must focus on taxing less, making
taxation simpler and convenient and
focus on service tax.
Dr. Bhagwati, RBI Chair Professor,
ICRIER, expressed his belief that
in the middle of the headwinds faced
by the global economy, there are
international advantages like falling
crude oil and commodity prices.
He expected the budget to focus
on raising capital expenditure in the
farm sector, low cost housing, crop
insurance and re-capitalization of
government banks, among others.
Mr. Atul Kumar, Chief General
Manager, NHAI, highlighted that
85% of traffic and 75% of cargo
is now being carried by roads and
thus regarded the road sector as the
lifeline of the country. He added
that previously 2-3 kms of roads
was being constructed per day but
the prospects have brightened and
now about 18 kms roads per day
are being constructed. He hoped
Dr. Ajay Dua, Former Secretary,
DIPP, opined that the hands of the
Finance Minister were tied as far as
the extent of money collected by him,
laws, and other parameters that allow
him to maintain fiscal prudence.
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Budget Viewing SessionThe Budget was tabled by Mr. Arun
Jaitely, Hon’ble Finance Minister. The
Finance Minister in his budget speech
touched upon the nine pillars viz.
agriculture, rural sector, health sector,
education, skills and job creation,
infrastructure and investments,
financial sector reforms, governance
and ease of doing business, fiscal
discipline and tax reforms to reduce
compliance burden.
Mr. Ajay Shankar Chairman, Expert
Committee
on
Pre-investment
Clearances, Ministry of Commerce &
Industry & Former Secretary, DIPP,
said that the current budget looked
into the aspirations of a majority of
people. He added that the focus on
the farm and the social sector are
encouraging. He also appreciated the
proposed tax exemptions for StartUps in the budget.
President, PHD Chamber said that
the direction of the budget was
good, however like all budgets there
have been some hits and misses. He
appreciated the commitment of the
government towards the farm sector,
social and healthcare spending and
Chamber at Work
infrastructure development. He
however, expressed concern over the
issue of corporate tax and dividend
distribution tax.
Dr. Mahesh Gupta, President, PHD
Chamber, presented his views post
budget and said that the budget was
progressive as the total plan outlay
increased by 15 percent from the
previous budget. He added that even
though taxes have increased but the
government has carefully articulated
sources to raise revenue.
Mr. Anil Khaitan, Vice President,
PHD Chamber, said that the budget
was not in favor of the high or the
super rich in India. He appreciated
the amount allocated for the
infrastructure sector and was also
delighted in the interest taken in the
road and rail sector. He added that
the ‘Jan Aushadhi Yojana’ scheme
announced will not only make quality
medicines available at affordable
prices but also increase capacity
utilization of the pharma industry.
Mr. Alok B. Shriram, Immediate
Past President was of the view that
the budget was rural oriented. He
expressed his concern that a lot of
steps in ease of doing business have
not been translated to the ground.
Mr. Prabhat Jain Chairman, Economic
Affairs Committee, PHD Chamber,
observed that there has been a mixed
response; with some progressive
steps, while some announcements
have been made in a muted way. He
said that this year’s budget is for the
common man. He also moderated the
Q&A session and made observations
from across the audience.
Mr. Akhil Bansal Co-Chairman,
Economic Affairs Committee, PHD
Chamber said that the budget was
progressive as well as inclusive and
will spur consumption, stimulate
investment and socio-economic
growth.
The event was sponsored by TechSci
Research, CAS Associates, Pepsico,
Techvedic, JhunJhunwala Institute,
Hotel Kanha Shyam.
Some key budget announcements include
yy Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not
above Rs. 50 lakh.
yy Allocation of over Rs. 87,000 crore for rural development with an objective to increase farmers’ income
in the coming times and fuel rural demand.
yy Allocation of Rs. 1,51,581 crore for social sector including education and health care.
yy Allocation of Rs. 2,000 crore for initial cost of providing LPG connections to BPL families which will
benefit about 1 crore 50 lakh households below the poverty line in 2016-17.
yy Allocation of Rs. 38,500 crore for MGNREGA to facilitate employment generation in rural areas.
yy Focus on development of infrastructure through high allocation of Rs. 2,21,246 crore with capital
expenditure of Rs. 2 lakh crore on railways and roads.
yy 100% FDI allowed in marketing of food produce manufactured and processed in India which will give
a boost to not only the Food Processing Industry but also the Agriculture sector.
yy Allocation of Rs. 25,000 crore towards recapitalization of Public Sector Banks.
yy Increase in the turnover limit under Presumptive taxation scheme under section 44AD of the Income
Tax Act to Rs. 2 crores, providing relief to a large number of MSMEs.
yy Relief to small taxpayers by raising ceiling of tax rebate under section 87A from Rs. 2,000 to Rs. 5,000.
yy Proposal to increase the limit of deduction in respect of rent paid under section 80GG from Rs. 24,000
per annum to Rs. 60,000 per annum.
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Chamber at Work
Post Budget Interactive Session Implications of
Union Budget 2016
Mr. Bimal Jain Chairman, Indirect Taxes Committee and Dr.Mahesh Gupta, President, PHD Chamber; Dr. Hasmukh Adhia, Secretary (Revenue), Ministry of Finance;
Mr. Gopal Jiwarajka, Senior Vice- President; Mr. Anil Chopra, Chairman, Direct Taxes Committee and Mr. Saurabh Sanyal, Secretary General, PHD Chamber.
T
he Direct & Indirect
Taxes Committee of PHD
Chamber organized a PostBudget Interactive Session on
‘Implications of Union Budget
2016’ on March 3, 2016 at PHD
House, New Delhi.
The session was supported by
Knowledge Partners - Dewan P.
N. Chopra & Co., BDO India,
Advaita Legal and Lakshmikumaran
& Sridharan; Gold Partner – DLF
Limited, Dabur India Limited and
PVR Cinemas; Silver Partner –
Clonect Solutions Pvt. Ltd.; Online
Media Partners – Voice of CA &
Taxmann and Television Partner –
Sadhna T V.
Chamber appreciated the Union
Budget 2016-17 as primarily driven
with the objective of accelerating
start-ups, investment and growth as
well as reducing litigation. He shared
that the Union Budget 2016-17
encourages economic and business’
confidence with fine tuning of socio
economic policies. He termed the
budget as ‘transformational’ on the
taxation front.
Mr. Anil Chopra, Chairman,
Direct Taxes Committee and Mr.
Bimal Jain, Chairman, Indirect
Taxes Committee, PHD Chamber
analyzed that the budget focused on
rural development, infrastructure,
agriculture and farmers’ welfare to
boost the economy. Mr. Chopra
felt that the government is doing
,Mr.
PHD
Dinesh Aggarwal, Co-Chairman, Direct Taxes Committee, PHD Chamber; Mr. Krishan Malhotra, Shardul Amarchand Mangaldas & Co.; Mr. Anil Chopra, Chairman, Direct Taxes Committee;
PHD Chamber, Ms. Rani Singh Nair, Member, CBDT; Mr. Ajay Bahl, AZB Partners ; Mr. V Anandarajan, Joint Secretary (TPL-II); Mr. Mukul Bagla, Co-Chairman, Direct Taxes Committee, PHD
Chamber.
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Chamber at Work
Mr. Sagar Shah, BDO India; Mr. B L Narasimhan, Lakshmikumaran & Sridharan; Mr. Bimal Jain, Chairman, Indirect Taxes Committee, PHD Chamber; Mr. Sujit
Ghosh, Advaita Legal; Mr. N K Gupta Co-Chairman, Indirect Taxes Committee, PHD Chamber.
continuous work to find balance
between
growth,
investment,
and employment. Mr. Jain said
clarifications were needed on
Krishi Kalyan Cess and time limits
availment for Cenvat Credit on
inputs and input services.
Chief Guest, Dr. Hasmukh Adhia,
Secretary (Revenue), Ministry of
Finance stated that the budget
mainly addressed macro-economic
issues with the objective of creating
additional fiscal space and boosting
infrastructure spending. He shared
that the Rules for Determining
Place of Effective Management
(POEM) of a company have been
deferred till April 2017 in order to
give companies sufficient time to
prepare accounts according to their
place of residency under the new
norms. Dr. Adhia further deliberated
that the Minimum Alternate Tax
(MAT) cannot be brought down at
this juncture as the government has
already kept a space for corporates
to enjoy sufficient tax exemptions
in other forms. He also stated that
the government is open to providing
guidance to offshore funds on
the critical issue of General Anti
Avoidance Rules (GAAR).
Ms. Rani Singh Nair, Member,
Central Board of Direct Taxes
emphasized that the government
is also moving towards the ‘Ease
of doing Business’ and the main
aim of the budget was to reduce
litigation, increase rationalization
and simplification of procedures.
A view of the audience
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Chamber at Work
Interactive Session on South Africa:
Inspiring New Ways Investment and Trade Initiatives
H. E. Mr. France Morule, High Commissioner of South Africa to India; Ms. Shabnam Pareek, Secretary, International Affairs, PHD Chamber; Mr. Recardo
Andrews, Minister Counsellor (Economic), High Commission of South Africa; Ms. Yandeya Mashau, Director, Export Promotion Asia, Department of Trade &
Industry, Government of South Africa; Dr. Mahesh Gupta, President, PHD Chamber; Ms. Mamotseki Hall, Investment Promotion, Department of Trade & Industry,
Government of South Africa; Mr. Sanjeev Sardana, Chairman, International Affairs Committee for Africa, PHD Chamber and Mr. Saurabh Sanyal, Secretary General,
PHD Chamber
T
he International Affairs
Committee for Africa, PHD
Chamber in association with
the Department of Trade & Industry,
Government of South Africa
organized – ‘South Africa: Inspiring
New Ways - Investment and Trade
Initiatives’
(Interactive
Session
and B2B Meetings with Business
Delegation from South Africa) on
February 25 , 2016 at PHD House,
New Delhi.
Chamber highlighted the emergence
of Africa as a promising investment
South African delegates at the Interactive Session
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destination
through
various
reforms that are being implemented
throughout the continent resulting in
a conducive business environment.
Subsequently, he elaborated on
the trade relations between South
Africa and India, mentioning that
the two countries are part of various
multilateral fora such as IBSA, G-20
as well as BRICS and have common
economic interests. He stressed on
the future of multilateralism, and
India-SACU Preferential Trade
Agreement, which could be beneficial
for both nations.
H. E. Mr. France Morule, High
Commissioner of South Africa to
India spoke about the vision and
agenda for Investment and Trade
Initiatives (ITI) undertaken by
the Government of South Africa.
He appreciated the concept of
“Incredible India” and recalled the
rich heritage and socio-cultural
similarities between India and South
Africa. He talked about the legacy
of Nelson Mandela and Mahatma
Gandhi.
Ms. Mamotseki Hall, Investment
Promotion, Department of Trade
& Industry, Government of South
Africa mentioned the sectors which
could be prospective avenues for
trade with India and added that
minerals are one of the major
export commodities from South
Africa to India. Ms. Hall added
that South Africa has rich reserves
of manganese, chrome, platinum,
vanadium and gold. She added that
South Africa is highly ranked in the
ease of doing business index and their
stock exchange i.e. JSE Securities
Exchange is among the top 20 stock
Chamber at Work
H. E. Mr. France Morule, High Commissioner of South Africa to India & Dr. Mahesh Gupta, President, PHD Chamber inaugurating the exhibition and B2B Meetings
exchanges worldwide which enhances
economic stability with sound macroeconomic management, availability of
skilled manpower, excellent financial
structure and abundant natural
resources. She provided information
on the investment opportunities in
sectors such as agro-processing, BPO
& IT services, capital/ transport and
machinery, electro technical, textiles
and mining, etc.
Ms. Yandeya Mashau, Director,
Export Promotion Asia, Department
of Trade & Industry, Government of
South Africa apprised the participants
about partnership opportunities and
FDIs in South Africa. She urged the
governments of the two countries
to contribute to the conducive
environment for investment and
bilateral trade between South Africa
and India.
Mr. Recardo Andrews, Minister
Counselor
(Economic),
High
Commission of South Africa
moderated the session and represented
South African interests in the domains
of mining, pharmaceutical, IT, agroprocessing and steel production.
He shared relevant opportunities
for Indian businesses in South
Africa and suggested major markets
for increasing bilateral trade and
investment while assuring industry of
a supportive business environment.
Mr. Sanjeev Sardana, Chairman,
International Affairs Committee for
Africa, PHD Chamber spoke about
the Chamber’s close association in
the third edition of the India-Africa
Forum Summit held in October
2015 in New Delhi. He urged Indian
industry to look at South Africa for
expanding their businesses.
Participants at the B2B meetings
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Chamber at Work
Interaction with Delegation from TUSKON
for business cooperation between
India and Turkey could be tourism
and pharmaceuticals. Dr. Gupta
requested the visiting delegation to
identify projects for investment in
India in the areas of infrastructure
and construction, which could lead to
good returns on their investments in
the near future.
Dr. Mahesh Gupta, President, PHD Chamber presenting a memento to Mr Riza Nur Meral, President,
Turkish Confederation of Businessmen and Industrialists (TUSKON)
A
n interactive session with
a delegation from Turkey
under the banner of
TUSKON was held on January 20,
2016 at PHD House, New Delhi.
Chamber led the discussion. The
TUSKON delegation was headed
by Mr. Riza Nur Meral, President
of Turkish Confederation of
Businessmen
and
Industrialists
(TUSKON). The discussion focused
on the possibilities for striking joint
venture agreements and further aimed
to cement trade and economic ties
between Turkey and India. Mr Meral
opined that due to various political
and economic reasons, the areas
Mr. Anil Khaitan, Vice President, PHD Chamber presenting a memento to Mr Ersin Karaoglan, President,
Turkish Chamber of Commerce and Industry
TUSKON Delegation along with Leadership and Secretariat of PHD Chamber
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Bilateral trade volume between India
and Turkey soared from US$ 500
million dollars in 2000 up to US$ 7
billion in 2013. As a result, India became
Turkey’s 13th largest trade partner.
The Turkish construction sector is one
of the most coveted globally and can
play a pivotal role in the development
of Indian infrastructure.
Chamber at Work
Seminar on Issues and Challenges:
Post SEBI - FMC Merger
Mr. B K Sabharwal, Co-Chairman, Commodity Exchanges Committee, PHD Chamber ; Mr. Vijay Sardana,
Member, Commodity Derivatives Advisory Committee, SEBI ; Mr. Ashok Agarwal, Chairman, Globe Capital
Market Ltd ; Mr. S K Mohanty, Executive Director, Commodity Derivatives Market Regulation Department
(CDMRD), SEBI ; Mr. M K Doogar, Chairman, Commodity Exchanges Committee, PHD Chamber ; Mr. P K
Singhal, Joint Managing Director, Multi-Commodity Exchange ; Mr. Shiv Kumar Goel, Alternate President,
Commodity Participants Association of India and Dr. Naresh Maheshwari, Chairman, Farsight Group
P
HD Chamber in association
with Commodity Participants
Association
of
India
organized a seminar on ‘Issues and
Challenges: Post SEBI - FMC Merger’
on February 23, 2016 at PHD House,
New Delhi.
Mr. M. K. Doogar, Chairman,
Commodity Exchanges Committee,
PHD Chamber pointed out that
FMC’s merger with SEBI will aid in
streamlining the regulations and curb
wild speculations in the commodities
market. He emphasized that it would
not be an easy task for SEBI to give
equal attention to both securities and
commodities as the market operations
differ in many ways.
Mr. Shiv Kumar Goel, Alternate
President, Commodity Participants
Association of India stated that
SEBI-FMC Merger will improve
the overall efficiency for the market
participants, including a reduction in
transaction costs.
Dr. Naresh Maheshwari, Chairman,
Farsight Group in his global overview
of the Commodity Markets shared
that globally, commodity trading
volumes are 20 times higher than
stock markets trading and SEBI-
FMC merger is expected to usher in
an unprecedented volume growth in
online commodities trading..
Mr. Vijay Sardana, Member,
Commodity Derivatives Advisory
Committee, SEBI stated that the
SEBI-FMC merger will provide
enormous
opportunities
in
investment derivatives such as
exchange traded funds for silver and
other metals and index futures and
options trading in commodities. It
will also offer arbitrage opportunities
across segments in an exchange and
make margin money fungible for
trading across various asset classes
like commodities, currencies and
equities.
Mr. Ashok Agarwal, Chairman,
Globe Capital Market Ltd pointed out
that the mismatch between a growing
commodities derivatives market and
the regulatory structure has been
addressed by the government through
the merger. He also gave insights on
the implications of the GST on the
commodities market.
Mr. P. K. Singhal, Joint Managing
Director,
Multi-Commodity
Exchange welcomed the merger
of FMC and SEBI, which is likely
to strengthen the regulations in
commodity futures market. SEBI
has penal powers of raid, search,
fine and can take criminal actions
against wrongdoings, thus improving
market integrity. Also securities
brokers who have memberships of
commodity futures through their
subsidiary companies will benefit, as
it will reduce the duplication as well
as decrease the cost of transactions
and compliance.
Chief Guest, Mr. S. K. Mohanty,
Executive Director, Commodity
Derivatives
Market
Regulation
Department, SEBI in his address
mentioned that post SEBI-FMC
merger, SEBI is taking steps to regulate
the commodity market effectively
including price fluctuations and the
basic minimum regulatory operations
that have already been implemented
to improve the commodity market.
When commodity trading comes
under SEBI, the regulator’s definition
of commodity exchanges will ensure
that commodity derivatives will be
deemed as securities. This is expected
to lead to opening up commodity
trading to options, index-linked
products and portfolio management
services. SEBI is also emphasizing
on strengthening risk management
of the exchanges. Further, investor
protection norms would be provided
by strengthening the arbitration
mechanism and investor grievance
redressal mechanism. . He stated that
SEBI has a far superior surveillance,
risk-monitoring and enforcement
mechanism that market participants
say will give more confidence to
investors.
Mr. B. K. Sabharwal, Co-Chairman,
Commodity Exchanges Committee,
PHD Chamber proposed a hearty
vote-of-thanks to the Chief Guest,
and the participants for their presence.
19
Chamber at Work
Workshop on Assessing Impact of Research
Developing Better Research Skills
Technical Session I: Dr. Nabi Hasan, Deputy Librarian, Indian Institute of Technology, Delhi ; Dr. Rubina Mittal, Co-Chairperson, Education Committee, PHD
Chamber ; Dr. Ramesh Gaur, University Librarian, Jawaharlal Nehru University and Dr. Jatinder Singh, Sr. Secretary, PHD Chamber
T
he Education Committee of
PHD Chamber organized
a one day workshop on
‘Assessing Impact of Research for
Developing Better Research Skills’
New Delhi. Central Library, Jawahar
Lal Nehru University, New Delhi
was the knowledge partner while
Thomson Reuters was the research
partner for the workshop.
The topic was chosen with an
objective to explore the various
factors which result in rejections
of PhD research papers. Also
new terminologies, methods and
techniques for Quantitative and
Qualitative research were discussed
during the workshop. More than
75 participants including faculty
members from reputed colleges of
Northern India, research scholars
along with scientists and school
teachers attended the workshop.
The esteemed speakers includedDr. Rubina Mittal, Co-Chairperson,
Education
Committee,
PHD
20
Chamber; Dr. Ramesh Gaur,
University Librarian, Jawaharlal
Nehru University; Dr. Nabi Hasan,
Deputy Librarian, Indian Institute of
Technology, Delhi and Dr. Jatinder
Singh, Sr. Secretary, PHD Chamber.
Dr. Ramesh Gaur talked about AntiPlagiarism Strategies for Maximizing
Research Impact. His presentation
covered topics like plagiarism, ethics,
and status of publication in India
in the current and recent past and
importance of library in any research.
He suggested using ORCID,
ZOTERO, SHODH GANGA,
INFLIBNET,
MENDELEY,
INTERNATIONAL NETWORK
OF THEISIS AND PLAGIARISM
etc. Dr. Nabi Hasan shared his views
on ‘Assessing and Maximizing the
Impact of Research’ and enclosed
citation analysis, H-index, impact
factor, alternative matrix in his
deliberations. He also used case
studies to clear the terms talked
about.
Dr. Rekha Chaturvedi, IPR Chair,
University of Delhi; Dr. Monica
Singhania, Professor of Accounting,
Faculty of Management Studies
(FMS),
University
of
Delhi
and Dr. Usha Mujoo Munshi,
Librarian, Indian Institute of Public
Administration were speakers for the
second technical session.
Dr. Chaturvedi laid emphasis on the
‘Use of Patent Search in Research
Paper Writing’. Dr. Monica suggested
first choosing the journal, followed
by study on its pattern of citations
and then start designing of papers.
Dr. Usha cited interesting facts on
difference in the scenarios between
the Chinese Research system and
Indian Research system. She also
elaborated on the Shanghai ranking
system.
Speakers of the last session included
Dr. Pankaj Gupta, Vice Dean and
Director & Professor, Jindal Global
University; Dr. Hari Shankar Shyam,
HOD – Marketing, School of
Business Studies, Sharda University;
Prof. M. N. Hoda, Director, Bharati
Chamber at Work
Technical Session II: Dr. Monica Singhania, Professor of Accounting, Faculty of Management Studies (FMS), University of Delhi; Dr. Usha Mujoo Munshi, Librarian,
Indian Institute of Public Administration; Dr. Rekha Chaturvedi, IPR Chair, University of Delhi and Dr. Rubina Mittal, Co-Chairperson, Education Committee, PHD
Chamber
Vidyapeeth’s Institute of Computer
Applications and Management.
Prof. M. N. Hoda talked about the
art of writing quality research papers,
different categories of papers and
common errors done during writing
a paper. In his presentation, Dr. Hari
Shankar conversed about various
steps to be taken to become a Smart
Researcher, how to read, write and
how to present a paper.
Ms. Anju Mehra, Manager, Research
Analytics and Government, Thomson
Reuters conducted the last technical
session followed by an interactive
quiz session. Gifts were distributed to
the respondents. Ms. Mehra gave her
presentation on ‘Measuring Research
Performance using Bibliometrics’.
The participants were felicitated with
participation certificates and gifts.
Budget 2016-17 earmarked a sum
of Rs 17 bilion for setting up 1,500
multi-skill training institutes in the
country and scaling up Pradhan
Mantri Kaushal Vikas Yojna. A
National Board for Skill Development
Certification in partnership with the
industry and academia will be set up.
The budget also proposes to skill one
crore youth over the next three years.
Technical Session III : Dr. Hari Shankar Shyam, HOD – Marketing, School of Business Studies, Sharda University; Dr. Jatinder Singh, Senior Secretary, PHD
Chamber ; Prof. M. N. Hoda, Director, Bharati Vidyapeeth’s Institute of Computer Applications and Management (BVICAM) and Ms. Anju Mehra, Manager, Research
Analytics and Government, Thomson Reuters
21
Chamber at Work
Interactive Session with Sri M ‘External Success and
the Inner Spiritual Journey: A Fine Balance’
was achieved through single-minded
discipline and utmost dedication.
Sri M further shared the experience
of his journey to the Himalayas and
how he gained his spiritual fulfillment
under the guidance of different sages
and saints.
Mr. Rajnish Goenka, Chairman, International Affairs Committee – Americas (North), PHD Chamber
felicitating Sri M with a plant
A
n interactive session on
‘External Success and the
Inner Spiritual Journey: A
Fine Balance’ jointly organized under
the aegis of PHD Chamber and Walk
of Hope took place on March 1, 2016
at PHD House, New Delhi. Sri M spiritual guide, social reformer and
educationist shared his fascinating
transformational journey from a
young boy to a living yogi. This
Walk of Hope for Peace and Harmony,
a padyatra from Kanyakumari to
Kashmir was led by Sri M, through
whereby he propagated for a united
and inclusive India. The Walk was
flagged off on January 12, 2015 and
is to set to conclude in Srinagar in
mid 2016. The Manav Ekta Mission,
a wing of the Satsang Foundation
established by Sri M.
Mr Rajnish Goenka, Chairman,
International Affairs – Americas
(North), PHD Chamber thanked
Sri M for his spiritual guidance. Mr.
Vivek Mahendru, State Coordinator
(UP and Delhi), Walk of Hope was
present on the occasion.
Mr Rajnish Goenka, Chairman, International Affairs Committee – Americas (North), PHD Chamber of Commerce and Industry; Sri M and Mr Vivek Mahendru, State
Coordinator (UP and Delhi), Walk of Hope
22
Chamber at Work
Force Protection India 2016
Mr. Bimal Sareen, Chairman, Defence & HLS Committee, PHD Chamber; Maj Gen (Dr) G D Bakshi, SM, VSM, Retd; Lt Gen Vinod Bhatia, PVSM, AVSM, SM,
Director, Centre for Joint Warfare Studies; Lt Gen S K Jha, AVSM, YSM, SM, Addl Director General Perspective Planning, Army HQ
T
he two day Force Protection
India 2016 seminar-cumexhibition organized by
CENJOWS in collaboration with
PHD Chamber as the Industry
Association Partner was held on
February 18 - 19, 2016 at DRDO
Bhawan, New Delhi.
The delegation included Lt Gen.
Vinod Bhatia, PVSM, AVSM, SM,
Director, Centre for Joint Warfare
Studies; Lt Gen S.K. Jha, AVSM,
YSM, SM, Addl Director General
Perspective Planning, Army HQ; Maj
Gen (Dr.) G.D. Bakshi, SM, VSM,
Retd and Mr. Bimal Sareen, Chairman
Defence Committee, PHD Chamber.
Tata Motors, DRDO and RADA
were some of the eminent exhibitors
at the seminar.
Lt Gen. Vinod Bhatia stated that
among the world’s mega nations,
India experiences the most complex
threats and challenges spanning
the full spectrum of conflict from
small wars to collusive and hybrid
wars to conventional and nuclear
wars. He added that as new risks
and threats emerge in the battlefield,
at sea or in the air, on the ground
as well as inland, government is
calling for higher level of security
at the borders and hinterland in
order to reinforce the protection of
homeland security. The need is to do
much more for personnel protection
and ‘safety’ vehicle protection,
material protection and information
protection. Our military and police
forces are under constant threat from
terrorism. Traditional Anti-Terrorism
Force-Protection measures mitigate
conventional threats, but provide no
security against new threats such as
dispersed radiation from radio-active
sources stolen from a hospital.
Lt Gen S.K. Jha, AVSM, YSM, SM,
Addl Director General Perspective
Planning, Army HQ said that in view
of tasks the armed forces perform in
varied terrain and threat conditions,
it is vital that the capabilities in place
can cope with varied operational roles
and will enable mission success both
safely and effectively. Solutions are
available to track threats, distribute
information and dispatch resources
to manage security incidents to
resolution. By integrating thirdparty intrusion detection systems
– such as radar, sensors, alarms,
access systems and video – with
geospatial intelligence products and
commercial-off-the shelf command
and control software, situational
awareness can be improved.
Maj Gen (Dr) G.D. Bakshi, SM,
VSM, Retd, talked about the
Protection of Personnel, Material,
Vehicles, Movement & Premises. He
highlighted that rapid and effective
protection of areas (depots, bases,
logistic areas etc.), neutralizing a
wide range of land-based threats,
with fewer personnel engaged in
surveillance can be done through a
network of sensors (optronic, radar,
acoustic, etc.) and effectors (lethal,
non-lethal) with command and
control management. There is huge
potential in equipping the Indian
armed forces and paramilitary with
personnel protection equipment
like ballistic helmets, improved and
light weight bullet proof jackets,
etc. Ongoing soldier modernization
programmer,
emerging
threats
from potential chemical, biological,
radiological and nuclear (CBRN)
threats and the need for versatile
combat clothing adaptable to
different weather conditions are
expected to drive the market for the
clothing segment over the next few
years.
23
Chamber at Work
Mr. Bimal Sareen, Chairman Defence
Committee highlighted the prevailing
geopolitical scenario clubbed with
the advancement in technology
necessitates that the armed forces
have to be prepared to fight in all
types of terrain in the entire spectrum
of conflict. The ongoing counter
terrorism (CT) and counter insurgency
(CI) operations are infantry- based
operations. He also added that the
identification and development of
appropriate technology will be a
prime factor in achieving success
in the HS procurement bazaar. He
concluded by saying that a lot needs
to be done by way of equipping the
forces to survive and sustain in the
future battlefield environment.
Session 2 on ‘Emerging Technologies’
was chaired by Lt Gen. Rameshwar
24
Yadav, AVSM, VSM, Retd, former
Director General Infantry, Army HQ.
Other eminent panelists included Mr.
Yonatan Yaron RADA Electronic
Industries, Israel who talked
about “Tactical Radars for Force
Protection”, Air Cmde Trilok Chand,
Sr Fellow CENJOWS and Col Shivaji
Das, Director Infantry.
Session 3 on ‘Personnel Protection’
was chaired by Brig P.P. Malhotra,
Deputy Director General CBRN,
Perspective Planning Directorate,
Army HQ. Other eminent speakers
were Brig Rajwant Singh, DDG
Infantry Directorate, Army HQ,
Dr. Rajesh Arora, Scientist, DG
Life Sciences, DRDO and Brig A.
Bhattacharya, DDG Mechanised
Forces Directorate, Army HQ.
The second day of
the event
commenced with a session on
‘Countering IEDs and Bomb
Threats’. Col Manjinder Singh, OIC
EDD, CME, Pune, talked about
concept and application of CounterIED Strategy. Col Abhijit Sharma,
OIC Bomb Disposal, National
Security Guard shared his views on
‘Threat to our Forces from Terrorists
– Recent Experiences’. Other eminent
panelists were Mr. V.P. Sulakhe,
Scientist ‘F’, VRDE, Ahmedabad
and Col Paramvir Singh, Director
Infantry, Infantry Dte, Army HQ.
The last session on ‘Perimeter and
Assets Protection’ was chaired by Maj
Gen R.K. Saiwal, Additional Director
General Ordnance Services.
The valedictory address was given by
Maj Gen K.B. Kapoor, VSM, Retd,
Director Emeritus, CENJOWS.
Chamber at Work
Workshop Series on Indirect Taxes
the Salary Reimbursements, Service
Tax on Compensation and Payment
by an Indian Company to its foreign
branch. He further deliberated on
Interest provisions and Penalty
provisions covering Sections 76 & 78
and 11 AC.
Mr. J K Mittal, Advocate; Mr. Bimal Jain, Chairman, Indirect Taxes Committee, PHD Chamber and Mr. Rachit Jain,
Lakshmikumaran & Sridharan.
T
he last workshop in the above
series was organized on the
theme ‘Audit, Investigation,
Imprisonment & Customs Drawback & Refund: Way Forward
In GST’ on February 12, 2016 at
PHD House, New Delhi.
Mr. Bimal Jain A2Z Taxcorp LLP &
Chairman, Indirect Taxes Committee,
PHD Chamber shared a number
of issues presently persisting under
Audit, Investigation & Prosecution.
He discussed in detail the GST
Legislation covering Article 366,
Article 246A, Article 269A and issues
covering Procedures for Import/
Export under GST; Refund on Export
of goods and services under GST;
different types of Import Duties and
Valuation of imported goods under
GST & Importance of Foreign Trade
Policy and Role of DGFT in GST
Regime among others.
Mr. Nikhil Suri, Ernst & Young made
a comprehensive presentation on
Offences, Prosecution and Dispute
Resolution Mechanism. He gave
an overview about offences and
prosecution, cognizable, non- bailable
offences. He discussed numerous
case laws relating to arrests broadly
covering Make My Trip India Pvt. Ltd,
Kei Rsos Maritime Ltd., Indo-Asian
News Channel Pvt. Ltd., M/s DSL
(Dharampal Satyapal Group Ltd)-
Makers of Rajnigandha Pan Masala
and Catch brand spices, Vijay Mining
& Infracrop Pvt Ltd. He shared
different offences relating to Service
Tax and Excise Duty. Mr. Suri also
discussed certain common provisions
and guidelines under circulars. He
deliberated on the various Dispute
Resolution Mechanisms available to
assessees by explaining traditional
and non-traditional avenues covering
Authority of Advance Ruling (AAR);
Settlement Commission and Indirect
Tax Ombudsman.
Mr. Vikas Garg Deloitte Haskins &
Sells LLP made a presentation on
handling Audit, Investigation, Search
and Inquiry by multiple wings of
Service Tax and Excise Department.
He also discussed power to issue
Show Cause Notices under Excise
& Service Tax. Mr. Garg explained
some key areas of concern related to
Mr. S. K. Pahwa highlighted various
contentious issues relating to Basic
Customs Duty, Additional customs
duty, True Countervailing duty or
additional duty of customs, Antidumping Duty/ Safeguard Duty and
education cess by explaining different
case studies. He also discussed about
Rebate/ Refund on Export of
Goods – Manufacturer Exporter or
Merchant Exporter in detail.
Mr. Rachit Jain Lakshmikumaran &
Sridharan gave an overview of duty
drawback by explaining Section 74
relating to re-export of duty-paid
imported goods, Section 26A relating
to refund of import duties in certain
cases and drawback on export of
goods manufactured in India. He also
discussed the importance of foreign
trade policy and role of DGFT on
export related benefits.
Mr. J. K. Mittal Advocate concluded
by deliberating on numerous case
laws relating to Audit, Investigation,
Imprisonment and Power to Arrest
provisions and issues covering
Dispute Resolution Mechanism.
A View of Audience
25
Chamber at Work
Interactive Session with
Business Delegation from South Korea
Mr. Chang Hyunbong, President, INNOBIZ; Mr. Sanjeev Ahuja, Co-Chairman, International Affairs Committee for Asia & Pacific, PHD Chamber; Mr. Changhyun Nam, President,
Chungbuk Technopark; Mr. Robinder Sachdev, President, The Imagindia Institute; Dr. Udit Raj, Member of Parliament, Lok Sabha; Mr. Anil Khaitan, Vice President, PHD
Chamber; Mr. Jaiseong Song, President, Korea-India Association; Mr. Iksoo Lee, Director, Chungcheongbuk-do; Dr. Lee Seongmin, Secretary General, Korea-India Association;
Ms. Shabnam Pareek, Secretary, International Affairs, PHD Chamber
T
he
International
Affairs
Committee for Asia & Pacific,
PHD Chamber in association
with the Imagindia Institute organized
an interactive session with a business
delegation from South Korea on
February 18, 2016 at PHD House, New
Delhi. The South Korean delegation
was represented by Mr. Jaiseong Song,
President, Korea-India Association,
Mr. Changhyun Nam, President,
Chungbuk Technopark, Mr. Iksoo
Lee, Director, Chungcheongbuk-do,
Mr. Chang Hyunbong, President,
INNOBIZ and Dr. Lee Seongmin,
SG, Korea-India Association.
and panache for
Tagore’s poetry.
Mr. Sanjeev Ahuja, Co-Chairman,
International Affairs Committee
for Asia & Pacific, PHD Chamber
invited South Korean companies to
invest in India in manufacturing and
infrastructure projects.
Dr. Udit Raj, Member of Parliament,
Lok Sabha mentioned that South
Korea can be a vital partner of India
in realizing ‘Make in India’, ‘Start Up
India’, ‘Digital India’, etc.
Mr. Robinder Sachdev, President,
The Imagindia Institute said that ten
percent of the Korean population
have Indian lineage and both nations
are connected with ties of Buddhism
Rabindranath
Mr.
Iksoo
Lee,
Director,
Chungcheongbuk reiterated that the
region has facilities that cater to a
plethora of companies ranging from
chip manufacturing to cosmetics and
expressed their desire to strengthen
bilateral relations between India and
South Korea. He indicated sectors such
as Solar Energy Batteries, Electrical
Devices, Medical Devices, Kitchen
Appliances, Construction Glass &
Machinery, IT - Data Management,
Cosmetics, Baby and Personal Care,
Molecular Diagnostics, Fitness &
Personal Safety and Technopark for
investment.
PHD Chamber remarked that this is
the opportune time for the business
communities of both the countries to
come closer and explore opportunities
of bilateral economic cooperation.
Mr. Anil Khaitan, Vice President, PHD Chamber presenting a memento to Dr. Udit Raj, Member of Parliament,
Lok Sabha
26
The session was followed by B2B
meetings.
Chamber at Work
Indian Army – Industry Roundtable Series
Joint Army-Industry ‘Make-in-India’ Planning
Maj R S Bedi (Retd), Co-Chairman, Defence & HLS Committee, PHD Chamber; Mr. Arvind Lakshmikumar, Founder and CEO, Tonbo Imaging; Mr. Jan Widerström, Chairman,
Saab India; Lt Gen Subrata Saha, UYSM, YSM, VSM**, DCOAS (P&S); Mr. Bimal Sareen, Chairman, Mr. Veenu Jain, Co-Chairman, Brig H P S Bedi, VSM (Retd), Advisor,
Defence & HLS Committee, PHD Chamber
T
he Defence and Homeland
Security (HLS) Committee of
PHD Chamber organized the
first interaction of the Indian Army –
Industry roundtable series jointly with
Indian Army on February 24, 2016 at
PHD House, New Delhi. The aim
of the closed door roundtable was
to candidly discuss the (acquisition)
plans of the Indian Army under the
‘Make in India’ initiative.
Mr. Bimal Sareen, Chairman Defence
and HLS Committee, PHD Chamber
remarked that under the ‘Make in
India’ initiative, industry is open to
partner/work with Indian Army on
each and every aspect. He further
added that for Foreign OEMs ‘Make
in India’ is a promising step, but there
is a need to increase the FDI limit so
as to rapidly build defence industrial
base in the country. The risk-taking
ability for the SMEs is dampening as
the Indian Government is proposing
strategic partnerships in the forms of
RURs. The SMEs have a major role
to play in attaining self-reliance and
should be accorded bigger roles not
as sub-contractors but as primes.
Chief Guest, Lt Gen. Subrata Saha,
UYSM, YSM, VSM**, Deputy Chief
of Army Staff (P&S) during his talk
said that out of the total 152 schemes
prevailing approximately 40 percent
of the schemes are for SMEs with
no critical technology. The scope for
SMEs is high. He added that there is
a need to go to other states of the
country to find out which technology
exists, as one is not aware how capable
Indian manufacturers are.
Mr. Bimal Sareen, Chairman, Defence & HLS Committee presenting a plant to Lt Gen Subrata Saha, UYSM,
YSM, VSM**, DCOAS (P&S)
Mr. Jan Widerström, Chairman, SAAB
India in his industry perspective
stated that the change is enabling us
27
Chamber at Work
Chief Guest with his Planning Team and other eminent speakers
to work with PSUs, private industry
and SMEs as well. He added that
the potential winners under ‘Make
in India’ initiative are SMEs. He
concluded by saying that they would
like to be an Indian company and are
ready to go full way under “Make
in India” program for technologytransfer with the aim of stability.
2828
Mr. Arvind Lakshmikumar, Founder
and CEO, Tonbo Imaging raised
concerns related to single vendor
situations; ensuring non-dilution of
GSQR’s and PAC orders to DPSU’s.
Mr. Kukreja, Director, OIS-AT
made a presentation on Advanced
Radar Systems under ‘Make in India’
initiative.
Mr. Veenu Jain, Co-Chairman,
Defence & HLS Committee, PHD
Chamber delivered the vote-ofthanks to the guests. Companies who
supported the roundtable as sponsors
were OIS-AT, Bhilai Engineering
Corporation Ltd., SAAB India and
Tonbo Imaging.
Chamber at Work
Seminar on Internal Financial Control –
360 Degree Business Governance Framework
Mr. Vijay KR Director – Risk Advisory Services, PwC; Mr. Pankaj Tewari, Director – Risk Advisory Services, PwC; Dr. S. Chandrasekaran, Co-Chairman, Corporate Affairs
Committee, PHD Chamber; Mr. Anil Khaitan, Vice President, PHD Chamber; Mr. Ilam C Kamboj, Associate Vice President- Legal & Company Secretary, Hero MotoCorp Ltd;
Mr. Vijender Sharma, Central Council Member & Chairman, Professional Development Committee, The Institute of Cost Accountants of India and Mr. S. V. Kumar, Founder,
Xestion Advisor Pvt. Ltd
P
HD Chamber organized a
seminar on ‘Internal Financial
Control – 360 Degree Business
Governance Framework’ on March
11, 2016 at PHD House, New Delhi.
While welcoming the guests, Mr.
Anil Khaitan, Vice President, PHD
Chamber stated that for conducting
their business in a fair and transparent
manner, the government’s focus on
the concept of ‘Internal Financial
Control’ in the Companies Act 2013
envisages significant changes in the
provisions related to governance,
compliance and disclosure norms.
Dr. S. Chandrasekaran, Co-Chairman,
Corporate
Affairs
Committee,
PHD Chamber described the key
constitutent and definition of the
Internal Financial Controls as per
the Act, 2013. He mentioned that
the Companies Act 2013 makes it
mandatory for the auditors of the
company to ensure that internal
financial controls system are in place.
Mr. Vijender Sharma, Central Council
Member & Chairman, Professional
Development
Committee,
The
Institute of Cost Accountants of
India (ICAI) stated that Internal
Financial Controls are designed to
provide reasonable assurance that a
company’s financial statements are
reliable and prepared in accordance
with the law. He mentioned that these
new provisions may lead to an open
interpretation because of different
provisions for listed and unlisted
companies.
Mr. Vijay K.R. Director – Risk
Advisory Services, PwC and Mr.
Pankaj Tewari, Director – Risk
Advisory Services, PwC presented
the Auditor’s Perspective on Internal
Financial Controls, deliberating on
the opportunities and challenges
involved in implementation of the
controls. Mr. Vijay detailed out the
key components of controls such
as Entity level controls, Operating
controls and Anti Fraud controls.
Mr. Pankaj elaborated on the Internal
controls over Financial Reporting
standards. In his presentation, he also
showcased the aspects which should
be considered before signing off the
IFC disclosures as well as the process
of certification to be followed by the
auditors.
Mr. S. V. Kumar, Founder, Xestion
Advisor Pvt. Ltd highlighted the
Director’s Perspective on Internal
Financial Controls and the global
and Indian scenario of different
controlling standards across the world.
He also explained the implementation
of Controls along with the penalties
for non-compliance. He suggested
that IFC should be embedded in the
Risk Management & Internal Audit
Program to derive the best value out
of it.
Mr. Ilam C. Kamboj, Associate
Vice President- Legal & Company
Secretary, Hero MotoCorp Ltd.
highlighted the Corporate Perspective
on Internal Financial controls. He
stated that Internal Financial Controls
lay down the systematic policies and
procedures adopted by the company
to ensure efficient and timely conduct
of its business. He mentioned that
operation management and risk
management are the most important
aspects from corporate view of
controls. He focused on the Standard
Operating Procedure to be followed
by Corporates for effective working.
29
Chamber at Work
Mr. Mukesh Gupta, Program Convener & Chairman – Tourism Committee, PHD Chamber; Mr. Babul Supriyo, Prominent Playback Singer & Minister of State for
Urban Development, Government of India; Mr. Arshad Nizam, Co-Chairman, Entertainment & Media Committee, PHD Chamber; Mr. Dharmendra (With the PHD
Lifetime Achievement Award); Mr. Gopal Jiwarajka, Senior Vice President, PHD Chamber; Dr. Mahesh Gupta, President, PHD Chamber and Mr. Rakesh Gupta,
Chairman, Entertainment & Media Committee, PHD Chamber
P
HD Chamber through its
Entertainment & Media
Committee
organized
“Gata Rahe Mera Dil ……Musical
Evening & PHD Excellence Awards
(Entertainment & Media)” on March
16, 2016 at Siri Fort Auditorium,
New Delhi.
The program was organized to
felicitate leading Bollywood singers
and media journalists with PHD
Excellence Awards – Entertainment
& Media. Singers Usha Utthup,
Kumar Sanu, Bappi Lahiri, Anand
Raj Anand, Sona Mohapatra, Palak
Muchhal, Zubin Nautiyal, Bhoomi
Trivedi, Raju Srivastav amongst many
others performed in this program.
Legendary Film Actor Dharmendra
was
awarded
with
‘Lifetime
Achievement Award’ for his immense
contribution to Indian Cinema for
30
over 50 years.
Siri Fort Auditorium witnessed a
pulsating evening with the event
which saw Bollywood music stalwarts
crooning to popular numbers. Bappi
Lahiri’s ‘Oo lala oo lala’ song saw
audience swaying to the retro music.
Usha Uthup too made people
dance when she rendered her all
time favourite ‘Hari om hari’ and
‘O Darling’. Sona Mohapatra’s song
Ambarsariya from Fukrey stole the
heart of the audience. Anand Raj
Anand sang few timeless classics like
‘Main kahin kavi naa ban jaoon.’ Palak
Muchhal’s ‘Jumme ki raat hai’, Jubin
Nautiyal’s ‘Zindagi kuchh to bata’ and
Bhoomi Trivedi’s ‘Ram chahe leela
chahe’ were enough for the audience
asking for more and more.
The real highlight of the evening
came when Lifetime Achievement
Award was conferred upon actor
Dharmendra, the original heman of Bollywood. The evening
also witnessed rib-tickling comic
performance by Raju Srivastava and
distribution of PHD Excellence
Awards (Entertainment & Media) to
noted & worthy names from the field
of media like Anjana Om Kashyap,
Anshul Chaturvedi, Richa Anirudh
and Harvir Singh.
The occasion was graced by
Union Minister of State for Urban
Development – Mr. Babul Supriyo,
who besides giving the Awards, also
sang the title track ‘Gata Rahe Mera
Dil’ and ‘Pal-pal dil ke paas’.
More than 2500 attendees and many
prominent bureaucrats, diplomats
and industrialists attended the event.
Chamber at Work
Glimpses of Gata Rahe Mera Dil … Musical
Evening & PHD Excellence Awards
31
Chamber at Work
Global Economic Turmoil, Impact on Indian
Economy: Look ahead
Mr. Ashish Aggarwal, Co-Chairman, Banking Committee, PHD Chamber; Mr. Sanjeev Gupta, Managing Committee Member, PHD Chamber; Mr. Saurabh Sanyal, Secretary
General, PHD Chamber; Mr. Anuj Gogia, OSD, Enforcement Directorate, Mr. Shyam Poddar, Chairman, Forex Committee; Mr. B N Satapathy, Consultant, NITI AAYOG; Mr.
Gopal Jiwarajka, Sr Vice President, PHD Chamber; Mr. H. R. Khan, Deputy Governor, RBI, Mr. Anil Khaitan, Vice President, PHD Chamber; Mr. Bishwajit Bhattacharyya, ExAdditional Solicitor General of India and Senior Advocate, Supreme Court of India; Mr. D. K. Aggarwal, Chairman, Banking Committee, PHD Chamber and Dr. Praveen Jha,
Professor, Centre for Economic Studies and Planning, School of Social Sciences, JNU
T
he
Forex
Committee,
Economic Affairs Committee
and Banking and Financial
Services Committee of PHD
Chamber organized a program on
‘Global Economic Turmoil, Impact
on Indian Economy: Look ahead’ on
March 12, 2016 at PHD House, New
Delhi.
Mr. Gopal S. Jiwarajka, Senior Vice
President, PHD Chamber, in his
welcome remarks said that despite
global headwinds and a truant
monsoon, India registered robust
growth of 7.2% in 2014-15 and is
expected to grow at 7.6% in 2015-16,
thus becoming the fastest growing
major economy in the world. He
verbalized that given the focus of the
budget to modernize infrastructure and
promote rural growth, the economy
will withstand global headwinds and
continue to register higher growth in
the coming times.
Mr. Alok B. Shriram, Immediate
Past President, PHD Chamber, in
his opening remarks said that the
Indian economy has many positives
and many negatives and from Indian
32
manufacturing and industry point of
view, internal growth seems sluggish.
He asserted that in these times, we
have to pick up opportunities. as with
reduction in energy prices and decline
in gold imports, foreign exchange
has been saved which will continue
to appreciate our currency and our
manufacturers will have to deal with
the situation with efficiency being the
key word.
Mr. Saurabh Sanyal, Secretary General,
PHD Chamber, while moderating the
session pointed out that amidst the
gloomy global landscape, the Indian
economy is showing its resilience and
making strides not only in achieving
the growth but also improving
its indicators in the ease of doing
business.
Mr. D. K. Aggarwal, Chairman,
Banking and Financial Services
Committee, PHD Chamber eloborated
on the consequences of China’s
transition from investment driven to
consumption driven and opined that
this transition has resulted in fall of
crude oil prices and commodity prices.
Mr. Shyam Poddar, Chairman, Forex
Affairs Committee, PHD Chamber,
stated that India has entered 2016 on
the cusp of cyclical growth recovery,
with inflation within the Central Bank’s
target and the economy benefiting
from lower commodity prices. He
mentioned that total depreciation of
the rupee since 1995 is equivalent to
114% or 5.41% annually and average
WPI Inflation since 2005 has been
5.58%. Mr. Poddar stated that in the
past global crisis, Indian Rupee too
faced severe headwinds. He opined
that the key influencing factors for
2016 would be evolution of FED
monetary policy and US dollar, geopolitical events, low commodity prices,
fear of unknown developments from
China and Euro-Zone, progress on
key reforms such as GST.
Dr. Praveen Jha, Professor, Centre
for Economic Studies and Planning,
School of Social Sciences, JNU, said
that the reason responsible for the
turmoil is the ascendancy of finance
capital in the global economy. Dr Jha
concluded that it is necessary to be
watchful about external environment
and seek opportunities whatever we
have and focus on industrial policy
Chamber at Work
Mr. H R Khan, Deputy Governor, RBI addressing the session
which will take Indian industry to a
much higher level.
Mr. Anuj Gogia, OSD, Enforcement
Directorate, compared the financial
rules during three different crisis viz.
1997 crisis , 2008 crisis and the recent
liberalization of monetary controls
by the RBI. He pointed out that the
current laws give a window of 6
months for the exporters to make
the payments with the effect that they
have a tendency to park their money
outside in this long time period and
wait for the currency to depreciate to
get some of the benefit.
Mr. B. N. Satpathy, Consultant, NITI
AAYOG elaborated on the need for
employment generation as growth
in India is aspirational and needs to
recapture its share in international
trade. He emphasised that the
globalized economy is an irreversible
phenomenon due to technology
integration; therefore India needs to
prepare better for the global turmoil.
Mr. Bishwajit Bhattacharyya, ExAdditional Solicitor General of India
and Senior Advocate, Supreme Court
of India stated that in 1997 South
Asian crisis, Euro Zone crisis and
2008 World Economic Crisis, India
remained unscathed as trade control
and exchange control regulations have
saved the country and these regulations
were necessary. He appreciated RBI
for saving the country from the world
economic crisis. He concluded that the
main concern is the fiscal situation,
which continues to be grim and the
domestic savings rate has fallen to 7.3
percent of the GDP and thus these
two issues need focus in the coming
times.
Chief Guest, Mr. H. R. Khan, Deputy
Governor, Reserve Bank of India
declined to subscribe to the view
that the Indian economy is trapped
in economic turmoil, on the contrary
the truth is India has been confronting
with issues of economic volatility,
uncertainty, ambiguity and complexity.
He talked about growth of various
advanced and developing economies
of the world and said that focus is
on China. But still there is a gap of
10 years between China and India
in terms of infrastructure growth,
but not withstanding that, China
occupies a large chunk of global GDP.
He added that oil prices have fallen
below US$ 30 per barrel and this risk
of sentiments led to sharp surge in
prices of gold. He said that markets
have settled down but the threat of
volatility remains. He highlighted
that India is one of the beneficiaries
of the high commodity prices but
everything comes with costs. First cost
is the performance of the commodity
exporting countries which have taken
a huge beating. The second is that a
lot of money has started to move out
of risky bonds. The third one is health
of banks. He said that the health of
European banks has taken a beating
and they are facing the pressure. He
said that despite such an environment,
inflation in India is under control,
fiscal deficit has declined significantly
and capital outflows have declined.
He added that there is a flipside too
as our currency has come under
pressure and so also the stock markets.
He verbalized that globally the trade
elasticity of growth is coming down.
Mr. Khan pointed ou that there are
countries whose exports are growing
despite the global slowdown. Indian
manufacturing is more price elastic
to global growth. Exports growth is
important and India needs to look
out for newer markets. He called for
maintaining a quality of fiscal deficit
with suitable and proper corporate
balance sheet, pointing out that India
also needs to clear up its stressed
assets scenario with three main
approaches in mind which consist of
a paradigm to resolving, restructuring
and recovering these. In conclusion, he
said that he doesn’t have a pessimistic
view and the situation has given India
a great opportunity to position itself
as a great leader.
PHD Chamber shared the reasons for
export slowdown in India. He shared
that the Indian exports were declining
to countries like Russia and Brazil
which have subdued growth. Exports
to the Middle East have fallen due to
the oil crisis.
Mr. Ashish Agrawal, Co-Chairman,
Banking and Financial Services
Committee, PHD Chamber proposed
the vote-of-thanks to the august
gathering.
33
Chamber at Work
World Consumer Rights Day 2016
Mr Ram Poddar, Chairman, Consumer Affairs, PHD Chamber; Mr C Vishwanath, Secretary, Ministry of Consumer Affairs, Food and Public Distribution; Mr Ram Vilas Paswan,
Hon’ble Union Minister , Ministry of Consumer Affairs, Food and Public Distribution and Justice V.B. Gupta
W
orld’s Consumer Rights
Day is celebrated across the
world on March 15, 2016.
However, due to Parliament Session
during the period, it was celebrated
by the Ministry of Consumer Affairs,
Food and Public Distribution on
March 22, 2016 at Vigyan Bhavan,
New Delhi. The Theme for this year’s
World Consumer Rights Day was
“Antibiotics off the menu”. The day
was commemorated with the release
of self regulation code for industry
and exchange of MoU between
Department of Consumer Affairs
and industrial associations.
Mr. C Vishwanath, Secretary,
Department of Consumer Affairs in
his welcome address explained that
the theme “Antibiotics off the menu”
has been kept as a process towards
indiscriminate use of antibiotics
causing harm to human beings. He
also apprised the audience regarding
the new Consumer Protection bill,
shortly being submitted to Parliament.
Chief Guest, Mr. Ram Vilas Paswan,
Hon’ble Union Minister of Consumer
Affairs, Food and Public Distribution
suggested that usage of antibiotics in
food products should be avoided. He
advised that under UN Guidelines for
34
Consumer Protection, “Consumer
Rights” should be used instead of
“Consumer Need”. While explaining
the importance of BIS and ISI marks,
he underlined that India’s standard
must be recognized as international
standards and for the same a separate
international body may be established.
Hon’ble Union Minister highlighted
that Mediation clause has been added
which includes, registering complaints
within 21 days, filing of complaints
while sitting at home at any time and
place through mobile and email. He
accentuated that for overcoming the
problem of misleading advertisement,
consumer protection authority has
also been suggested in the bill. He
appreciated the efforts of industrial
bodies for their initiatives and ensured
that the government would always
provide support and assistance.
Mr. Ram Poddar, Chairman, Task
Force on Consumer Rights, PHD
Chamber ensured full support from
the Chamber towards this initiative of
the Ministry of Consumer Affairs.
An MoU was signed between PHD
Chamber and the Ministry of
Consumer Affairs for commitment
towards
consumer
protection
initiative of PHD Chamber and the
government. The video spots made by
PHD Chamber were released by the
Union Minister.
Mr Rama Sastry, Joint Secretary, Ministry of Consumer Affairs and Mr Saurabh Sanyal, Secretary General, PHD
Chamber exchanging the Memorandum of Understanding
Chamber at Work
CEO Talk Series- Interactive Session with
Mr Suresh Narayanan, CMD, Nestle India Ltd
T
he Young Business Leaders
Forum (YBLF) organized an
interactive session on ‘Role and
Challenges of the Future Leaders’ with
Mr. Suresh Narayanan, Chairman and
Managing Director, Nestle India Ltd
on March 10, 2016 at PHD House,
New Delhi.
Mr. Saket Dalmia, Chairman, YBLF
in his opening remarks praised Mr.
Suresh Narayanan for the interesting
theme on the ‘Role and Challenges of
the Future Leaders’ and briefed the
audience about the various initiatives
of YBLF and the relevance of the
forum in today’s context.
In his welcome address, Mr. Anil
Khaitan, Vice President, PHD
Chamber said that Nestle is one brand
which is being sustained purely on
quality and safety aspects and its focus
on research and development. He
further mentioned that it is important
to capitalize the demographic dividend
of India so that it doesn’t turn into a
demographic disaster.
Mr. Suresh Narayanan, Chairman and
Managing Director, Nestle India Ltd
opined that character and courage –
the true great attributes of leadership
are necessary to make your company
run with a sustained and accelerated
approach. He emphasized on crisis
Mr. Saket Dalmia, Chairman, YBLF; Ms. Kanika Shriram, Co-Chairperson, YBLF; Mr. Anil Khaitan, Vice President,
PHD Chamber; Mr. Suresh Narayanan, Chairman and Managing Director, Nestle India Ltd. and Mr. Pranav Poddar,
Member, YBLF
management principles and shared his
personal experiences while handling
the case of Maggi Noodles health
safety issue in the country and how
not even a single employee left the
company during the crisis.
While sharing his learning with the
audience, Mr. Narayanan added that
we are living in a volatile, uncertain
and ambiguous world which is
defined by geopolitical and social
forces today. He further mentioned
that the same set of numbers can be
looked either as a catastrophe or as
an opportunity. He advised the young
and emerging entrepreneurs to never
look at the situation in permanence
and always look for an opportunity in
adversity in order to be competitive in
today’s world.
Mr. Pranav Poddar, Member, YBLF
in his closing remarks thanked Mr.
Narayanan for his valuable time and
motivating address. He also thanked
the session sponsors BMD Pvt Ltd,
Bry Air (Asia) Ltd., Dasnac Holdings
Private Limited, DCM Shriram Ltd,
Hindustan Tin Works Ltd, JK Lakshmi
Cement Ltd, Kent RO Systems Ltd, PG
Industry Ltd, R2 Solutions Recruiters
and Syenergy Environics Ltd.
Among others who were present on
the occasion were Mr. Sanjay Bhatia,
Former President, PHD Chamber;
Ms. Kanika Shriram, Co-Chairperson,
YBLF and Mr. Saurabh Sanyal
Secretary General, PHD Chamber.
Mr. Suresh Narayanan along with YBLF Members
35
Chamber at Work
2nd National Conference ‘Mainstreaming
AYUSH: Arogya Bhava’
Dr. Vijendra Prakash, The Himalaya Drug Company; Mr. Pradeep Multani, Chairman, AYUSH Committee, PHD Chamber; Mr. Jitendra Sharma, Joint Secretary, Ministry of
AYUSH; Dr. J.L.N.Sastry, Co-Chairman, AYUSH Committee, PHD Chamber and Mr. Vivek Seigell, Director, PHD Chamber
P
with Ministry of AYUSH
organized the 2nd National
Conference ‘Mainstreaming AYUSH:
Arogya Bhava’ on February 3,
2016, at PHD House, New Delhi.
More than 100 delegates including
diplomats, AYUSH
(Ayurveda,
Yoga and Naturopathy, Unani,
Siddha, Homeopathy) industry,
research professionals, doctors,
vaids and academicians attended the
conference.
Chief Guest, Mr. Jitendra Sharma,
Joint Secretary, Ministry AYUSH
stated in his inaugural address that
India is trying to augment exports of
AYUSH products in European Union
(EU) countries and other developed
countries. He further informed that
AYUSH Ministry has been engaging
intensely with authorities in EU and
other parts of the developed world
including Australia to enhance the
penetration of AYUSH products in
international markets.
Mr. Pradeep Multani, Chairman,
AYUSH Committee, PHD Chamber,
pointed out that the market for
traditional health medicine has been
increasing steadily, the world over.
36
He further underlined that though
AYUSH industry has been one of the
most traditional forms of medicine,
it has not been able to exploit the
emerging
market
opportunities,
primarily due to constraints such as
fragmentation of the industry, lack
of standardization of raw material
and the finished products, inadequate
R&D, slow pace of modernization of
production processes and technology,
absence of focused marketing and
branding and others due to which
AYUSH Sciences are not recognized
as Medical & Health Care Sciences
and the new health policy pitches
AYUSH as a panacea for the health
problems that plague the country’s 1.2
billion people.
Dr.
J.L.N.Sastry,
Co-Chairman,
AYUSH Committee, PHD Chamber
emphasized the need for a strong R &
D and clinical trials so that image of
the AYUSH sector can be improved.
Dr. Vijendra Prakash, The Himalaya
Drug Company shared the export
potential of the AYUSH sector.
Mr. Pradeep Multani, Chairman, AYUSH Committee, PHD Chamber presenting a memento to Mr. Jitendra Sharma,
Joint Secretary, Ministry of AYUSH
Chamber at Work
now become the icon of global health
and many countries have started
integrating it in their health care
delivery system.
Dr. Deepika Gunawant, Expert, Quality Council of India ; Dr. Bharti, Assistant Director (Ay.), Central Council for
Research in Ayurvedic Sciences; Mr. Pradeep Multani, Chairman, AYUSH Committee, PHD Chamber; Dr. Ishwara
N. Acharya, Director, Central Council for Research in Yoga & Naturopathy; Dr. D. C. Katoch , Advisor (Ayurveda),
Ministry of AYUSH; Dr. R. K. Manchanda, Director General, Central Council for Research in Homoeopathy; Mr.
Akhilesh Kumar Tripathi, Director, Dr. Willmar Schwabe India Pvt. Ltd. and Dr. G. Geetha Krishnan, Coordinator
(HOD), Integrative Medicine & Holistic Therapies, Medanta Medicity
Plenary Session
The Plenary Session was chaired
by Dr. D.C. Katoch, Advisor (Ay.),
Department of AYUSH, Ministry
of AYUSH. He informed that the
Ministry is working very hard to
create AYUSH as a brand nationally
and internationally and is very closely
working with international agencies
like WHO etc.
Dr. R. K. Manchanda, Director
General, Central Council for Research
in Homoeopathy, highlighted the
increase in number of Homeopathy
colleges/institutes and increase of
awareness about the Homeopathy
system.
Dr. Ishwara N. Acharya, Director,
Central Council for Research in Yoga
& Naturopathy, asserted that Yoga has
Dr. Deepika Gunawant, Expert,
Quality Council of India stressed on
the Quality of AYUSH system of
medicines and no compromise would
be done on the same. Dr. Bharti,
Assistant Director (Ay.), Central
Council for Research in Ayurvedic
Sciences shared the initiatives taken by
their department.
Dr. G. Geetha Krishnan, Coordinator
(HOD), Integrative Medicine &
Holistic Therapies, Medanta Medicity,
elucidated the model, views and
experiences of integrated medicine
in Private sector citing the success of
Medanta Medicity.
Mr. Akhilesh Kumar Tripathi,
Director, Dr. Willmar Schwabe
India Pvt. Ltd. shared about some
of the issues/challenges faced by
Homeopathy Industry and urged the
government to resolve the same.
37
37
Chamber at Work
B2B Meetings with a Delegation from Poland
Mr Durgesh C Sharma, Director, PHD Chamber; Mr Saurabh Sanyal, Secretary General, PHD Chamber; Ms Lucyna Jaramczuk, Councellor General, Ministry of Economic
Development, Poland; Mr Waclaw Zmuda, Chairman, Eastern European Export & Investment Cluster, CARPATHIA BUSINESS and Ms Nirupama Sharma, Deputy Secretary,
PHD Chamber
P
HD Chamber in collaboration
with Indo-Polish Chamber
of Commerce & Industry
organized B2B meetings with
delegates from Poland on March 14,
Mr Saurabh Sanyal, Secretary
General, PHD Chamber while
welcoming the delagates portrayed the
agricultural status and opportunities
of collaboration for both India and
Poland.
Mrs. Lucyna Jaramczuk, Councellor
General, Ministry of Economic
Development, Government of Poland
B2B Meetings With Polish delegates
38
scheme of the Indian government.
highlighted that food processing, coal
mine, defence and IT were priority
sectors. She also stated that the Polish
Government is ready to support
Polish companies to do business with
Indian counterparts and was ready
to provide financial assistance to
Indian companies as well. She further
added that the value proposition of
Polish companies is high in terms
of location and economic stability,
attractive labour markets, mature
business environment and appealing
investment incentives. This should be
leveraged by Indian companies. She
also applauded the mega food park
Mr. Waclaw Zmuda, Chairman,
Eastern European Export &
Investment Cluster, CARPATHIA
BUSINESS discussed the working
operations of the company and the
various products including the new
generation packaging technology.
Mr. Durgesh C Sharma, Director,
PHD Chamber pointed out that these
B2B meetings for the young and
existing entrepreneurs would facilitate
the ease of doing business in India as
well as in Poland.
B2B Meetings with Polish delegates
Chamber at Work
National Water Summit 2016
water consumption for masses, as
and when this document achieves its
constitutional validity in due course
of time.
Dr. Jatinder Singh, Senior Secretary, PHD Chamber; Mr. Abhishek Raju, Fellow Director & Co Founder, Jivana
Vitality; Mr. Sanjay Ghatak, Sr. General Manager; Piramal Water Private Limited; Mr. Gopal K Agarwal, Chairman,
Water & Solid Waste Management, PHD Chamber; Mr. Pankaj Jain, Former Secretary, Ministry of Drinking Water
and Sanitation, GOI and Chairman of Sulabh Sanitation Mission Foundation; Dr. Tanu Jindal, Director, Amity
Institute of Environmental Sciences and Ms. Sharmila Oswal, President, Green Energy Foundation
T
he Water and Solid Waste
Management Committee of
a ‘National Water Summit 2016’
on March 22, 2016 at PHD
House, New Delhi. The summit
was attended by distinguished
delegates from Industry, Ministry
of Drinking Water and Sanitation,
Delhi Jal Board, Central Water
Commission, State representatives;
members of regulatory agencies;
water infrastructure, manufacturing
& water technology companies,
International NGOs, Embassies,
High Commissions and other private
stakeholders from water and waste
water sectors.
Chief Guest, Mr. G. S. Jha, Chairman,
Central Water Commission (CWC)
highlighted the initiatives of the
government to implement the
“National Water Framework Law”
to maintain this prestigious resource
optimally with all the states and
union territories. This law will help
them to manage this resource since
water is a state subject. It will not
only emerge as a guiding principle to
manage water resources across the
country but also help to resolve interstate water disputes in an equitable
proportion. Mr. Jha said that the
national water policy and also the
proposed water security would be
a part of this framework and it will
also provide minimum quantity of
Mr. Ashit Desai, Joint General Manager, Essar Power Limited; Mr. Rajeeb Swain,
Corporate Head-Environment; Hindustan Zinc Limited; Dr. Jatinder Singh, Senior
Secretary, PHD Chamber; Mr G N Kathpalia , Chairperson; Alternative Futures and
Mr. Mahendra Phate, Program Manager; Bajaj Foundation
Mr. Gopal K Agarwal, Chairman,
Water and Solid Waste Management
Committee,
PHD
Chamber
highlighted the history and theme of
the World Water Day. He expressed
concern about the tremendous
pressure on existing natural resources
as a result of growing population
in India. He also spoke about the
judicious use of surface and ground
water. He emphasized on safe
drinking water and its health benefits.
He underlined the importance to
focus on waste water management
sector due to increasing health
awareness and population pressure.
Dr. Jatinder Singh, Senior Secretary,
PHD Chamber delivered the formal
vote-of-thanks to the audience at the
inaugural session.
The Summit had “Water Award”
and two technical sessions wherein
eminent speakers participated fromwater manufacturing, technology and
waste water sectors. They deliberated
and offered valuable suggestions
and technologies regarding safe
and affordable water supply and
management in India.
Dr. Jatinder Singh, Senior Secretary, PHD Chamber; Mr. G S Jha; Chairman, Central
Water Commission and Mr. Gopal K Agarwal, Chairman, Water & Solid Waste
Management; PHD Chamber
39
Focus State- Chandigarh
Budget Viewing Session 2016-17
Dr. Praveen Rathee, Regional Director, PHD Chamber, Chandigarh; Mr. Arun Grover, Sr. Member, PHD Chamber & Chairman, Amartex; Mr. S. J. Singh, former
Commissioner of Income Tax; Mr. R. S. Sachdeva, Co-Chairman, Punjab Committee; Dr. Ashok Khanna, Former President, PHD Chamber; Ms. Sudha Sharma,
former Chief Commissioner of Income Tax; Mr. P. K. Verma, former Regional Director, PHD Chamber, Chandigarh and Mr.Sunil Bhadu, Advocate, Income Tax
P
HD Chamber, Chandigarh
organized a Budget Viewing
Session on February 29,
2016 at PHD House, Chandigarh
for live screening of the Union
Finance Minister’s speech. The PHD
Chamber’s delegation was led by
Mr. Ashok Khanna, Past President,
Mr. Satish Bagrodia, Co-Chairman
of Punjab Committee, Mr. R. S.
Sachdeva and experts on taxation.
Mr. Ashok Khanna, Past President,
PHD Chamber stated that the budget
focus has been on rural economy and
the infrastructure sector which is a
welcome measure because if India’s
rural economy is strong, then the
country will not be affected by the
current global economic turmoil.
Mr. R. S. Sachdeva, Co-Chairman,
Punjab Committee, PHD Chamber
said that no announcement has been
made for the benefit of MSMEs.
However, the measures announced
for boosting agriculture and
infrastructure will help in the growth
of the economy.
Ms. Sudha Sharma, former Chief
Commissioner of Income Tax opined
that the Budget has taken care of all
sections of society. Mr. Arun Grover,
Chairman of Amartex, a leading
textile industrialist of the region
opined that increase of excise duty
on branded garments is inadequate.
Mr. P. K. Verma, former Regional
Director, PHD Chamber, Chandigarh
welcomed the Budget provisions
and opined that the focus is on Skill
Development in line with ‘Make in
India’s initiative and the plan for 100
percent electrification of villages and
development of infrastructure will
boost the economic development in
the country.
RBI lowers repo rate by 25 basis points to 6.5%
The Reserve Bank of India (RBI) in the first bi-monthly monetary policy review for the 2016-17 fiscal, which
began on April 1, cut its policy interest rate by an expected 25 basis points, bringing it to 6.5%, the lowest since
January 2011. The RBI also introduced a host of measures to smoothen liquidity supply so that banks can lend to
productive sectors. Given weak private investment in the face of low capacity utilisation, a reduction in the policy
rate by 0.25 per cent will help strengthen growth, stated the RBI Governor. The policy said the average overnight
borrowings by banks have increased to Rs 1,935 billion in March from Rs. 1,345 billion in January.
Stating that the inflation objectives are closer to being realised and price-rise will hover around the 5 per cent
mark for the remainder of the fiscal, The RBI Governor reaffirmed that the monetary policy will continue to
remain accommodative to address growth concerns.
RBI also retained its GDP growth forecast at 7.6 per cent, on the assumption of a normal monsoon and a boost
to consumption through the implementation of the Seventh Pay panel recommendation.
40
Seminar on Budget 2016-17
P
HD Chamber, Chandigarh
in
association
with
Lakshmikumaran & Sridharan
Attorneys, Chandigarh, organized a
seminar on Budget 2016-17 on March
2, 2016 at PHD House, Chandigarh
to analyse and understand the fine
print of the budget proposals.
Welcoming the participants, Dr.
Praveen Rathee, Regional Director,
PHD Chamber applauded the
announcements made in the Union
Budget and said that the budget
is progressive and nine pillars of
the Union Budget were good for
the common man. He said that the
Centre’s thrust on improving rural
infrastructure would be beneficial to
check migration from rural to urban
areas.
Speaking on the occasion, Mr. G. S.
Kular, Convener-Ludhiana Chapter,
PHD Chamber said in a country
like India, where 40 percent of
the workforce is employed by the
MSME sector, a sustainable growth
can happen only if the sector is
duly incentivized to participate in
the economic growth in a continued
manner. The budget must ensure that
the MSME sector gets its due share
of growth-boosting incentives.
Eminent faculty members from
Dr. Praveen Rathee, Regional Director, PHD Chamber addressing the participants. Also seen: Mr. Amar Pratap
Singh, Joint Partner, Lakshmikumaran & Sridharan Attorneys; Mr. Rajat Juneja, Principal Associate-Direct
Taxes, Lakshmikumaran & Sridharan Attorneys, Mr. R. Ramachandran, Principal Associate-Direct Taxes,
Lakshmikumaran & Sridharan Attorneys; Mr. G. S. Kular, Convener-Ludhiana Chapter, PHD Chamber and Mr.
Manish Gaur, Partner, Lakshmikumaran & Sridharan Attorneys
Lakshmikumaran
&
Sridharan
Attorneys including Mr. Manish Gaur,
Partner; Mr. Amar Pratap Singh,
Joint Partner; Mr. R. Ramachandran,
Principal Associate-Direct Taxes;
Mr. Rajat Juneja, Principal AssociateDirect Taxes; Ms. Swati Gupta, Joint
Partner- Indirect Taxes and Ms. Krati
Singh, Principal Associate- Indirect
Taxes, apprised delegates on the
economic aspects of the budget,
the impact on direct and indirect tax
and shared their perspectives and
implications for industry during the
seminar.
Deliberating on different provisions
of the Budget, 2016, experts
enlightened the participants about the
various changes made in the existing
direct and indirect taxation laws. The
government has taken several steps
towards ‘Ease of doing business’.
The rigours of filing various statutory
returns and compliances have been
done away with. Experts viewed
that the government has shown an
inclination to repose faith in the
assessee by reducing the number
of checks on the assessee, while
the burden on the consumers, who
bear the brunt of any increased
indirect taxes has been increased by
introducing various levies.
Experts
also
discussed
the
‘KrishiKalyan Cess’ at 0.5% on
all taxable services. As a result of
this, all services- airlines, hotels,
restaurants, etc. are likely to get more
expensive from June, 2016. Similarly,
the ‘Infrastructure Cess’ of 1-4%
introduced on motor vehicles will
make motor vehicles more expensive
for the consumers. Experts pointed
out that the fiscal benefits which have
been doled out will be funded from
an increased tax base.
Mr. Navjit S Aulakh, MD, Param
Metal Tech, Convener Mohali region,
PHD Chamber thanked the speakers
and participants for sharing their
valuable inputs during the interactive
session.
Participants at the seminar on Budget 2016-17
41
Meeting on TDS Awareness for Banking Sector
to deduct tax in cases where the
depositors have submitted Form 15G
and the interest income exceeds the
basic exemption limit. He urged the
banks to quantify the TDS amounts
and deposit the same within two
weeks.
Dr. Praveen Rathee, Regional
Director, PHD Chamber, Chandigarh
said it is a Chamber’s responsibility
to sensitise the stakeholders on
important issues like taxation in
general and TDS in specific.
Mr. Y.K. Singh IRS, Worthy CIT-1 (TDS) Chandigarh addressing the delegates;Also seen (from L-R) Mr.
Sanjeev Kumar,Income Tax officer; Mr.. Chetan P.S. Rao IRS, Addl CIT (TDS), Chandigarh & Ludhiana;
Mr.. Vivek Vardhan, IRS, ACIT (TDS), Chandigarh & Panchkula and Dr. Praveen Rathee, Regional
Director, PHD Chamber
P
HD Chamber, Chandigarh in
association with the Income
Tax Department organized
a meeting on TDS Awareness for
Banking Sector on March 3, 2016
at PHD House, Chandigarh. The
meeting was attended by over sixty
senior executives from 40 different
nationalised and private banks from
across the Northern Region including
Chandigarh, Punjab and J&K.
Chief Guest, Mr. Y. K. Singh, IRS,
Income Tax Commissioner (TDS-1),
Chandigarh mentioned that a recent
survey of a few branches of different
banks revealed that Tax Deducted at
Source (TDS) on interest income on
several crores of fixed deposits had
been over looked by the banks.
Others who shared their views on
the occasion included Mr. Chetan
P.S. Rao, IRS Addl. Commissioner
of Income Tax (TDS), Mr. Vivek
Vardhan Asstt. CIT (TDS), Mr.
Sanjeev Kumar and Mr. Ramesh
Chand, Income Tax Officers (TDS).
Mr. Singh further informed that the
Income Tax Department wants to
create a congenial environment and
relationship with the banks so as
to ensure proper tax deduction at
source and avoid penal provisions
and prosecution. He advised Banks
The budget 2016-17
proposed that now NonResident Indians who
do not have PAN cards
would not be subjected to
a higher Tax-Deducted-atSource of 20 percent if they
submit Tax Identification
Number.
Mr. Chetan P.S. Rao IRS, Addl CIT (TDS), Chandigarh & Ludhiana delivering Vote of thanks; Also seen in the pic are (from L-R) Mr. Ramesh Chand, Income Tax
officer; Mr. Sanjeev Kumar, Income Tax officer; Mr. Y.K. Singh IRS, Worthy CIT-1 (TDS) Chandigarh; Mr.. Vivek Vardhan, IRS, ACIT (TDS), Chandigarh & Panchkula
and Dr. Praveen Rathee, Regional Director, PHD Chamber
42
Focus State- Haryana
Arogya Mela 2016
Mr. Vivek Seigell, Director, PHD Chamber; Dr. Saket Kumar, Director, Department of AYUSH, Govt of Haryana; Mr. P. K Mahapatra, Additional Chief Secretary,
Health and Family Welfare, Govt. of Haryana; Mr. Anil Vij,Hon’ble Minister of Health, Medical Education,AYUSH,Sports and Youth Affairs, Government of Haryana;Mr.
Anil Khaitan,Vice President, and Mr. Pradeep Multani,Chairman,Committee on AYUSH,PHD Chamber and Mr. Ashok Sangwan, Deputy Commissioner, Ambala,
Government of Haryana during the Inaugural Session of Arogya Mela
P
with the
Department of
AYUSH, Ministry of AYUSH,
Government of Haryana organized a
four-day Arogya Mela 2016, March 3
– 6, 2016 at Gandhi Ground, Ambala
Cantt, Haryana. Chief Guest was Mr.
Anil Vij, Hon’ble Minister of Health,
Medical Education, AYUSH and
Sports and Youth, Government of
Haryana. Other eminent dignitaries
who participated included Mr. P.
K. Mahapatra, Additional Chief
Secretary, Health and Family Welfare,
Govt. of Haryana; Mr. Ashok
Sangwan, Deputy Commissioner,
Ambala, Govt. of Haryana and Dr.
Saket Kumar, Director, Department
of AYUSH, Govt. of Haryana.
Chief Guest, Mr. Anil Vij, Hon’ble
Minister of
Health, Medical
Education, AYUSH and Sports and
Youth, Government of Haryana
inaugurated the exhibition and
declared that the Arogya Fair would
boost AYUSH industry in India and
globally.
Mr. Pradeep Multani, Chairman,
AYUSH Committee, PHD Chamber
in his theme address shared about the
potentiality of AYUSH sector.
PHD Chamber in his inaugural
address assured the government on
Mr. Anil Khaitan, Vice President, PHD Chamber presenting a memento to Mr. Anil Vij, Hon’ble Minister of Health, Medical Education, AYUSH, Sports and Youth
Affairs, Government of Haryana
43
Mr. Vivek Seigell, Director, PHD Chamber; Dr. Usha Dutt, Principal, Shri Krishna Govt. Ay. College, Kurukshetra ;Mr. P. K Mahapatra, Additional Chief Secretary,
Health and Family Welfare, Govt. of Haryana; Dr. Saket Kumar, Director, Department of AYUSH, Govt of Haryana and Dr. Satpal Bahmani, Deputy Director,
Department of AYUSH, Govt of Haryana during the Valedictory Session.
behalf of PHD Chamber to support
the AYUSH industry.
Various interactive sessions were
conducted on life style diseases along
with cultural evenings organized by
the students of the Government
College of Kurukshetra, Haryana.
The total footfall in the 4 days of
Arogya Mela was approximately
20,000-30,000. About 5400 different
OPDs of Panchkarma, Ayurvedic,
Homeopathic, Unani, Yoga and
Naturopathy were conducted by
the doctors. About 80 exhibitors
from large companies such as
Patanjali, Multani Pharmaceuticals,
Himalaya Drugs, Hamdard, etc. and
MSME companies like Pushkara
Herbals and A-one International
participated in the fair. Around 2000
practitioners and paramedical staff
also participated in the health fair.
Chief Guest, Mr. P. K. Mahapatra,
Additional Chief Secretary, Health
and Family Welfare, Govt. of Haryana
in the valedictory session gave away
certificates to the exhibitors, doctors
and students who participated in the
cultural evening and to the volunteers
from the Govt. Ayurvedic College,
Kurukshetra.
Mr. P. K. Mahapatra, Additional
Chief Secretary, Health and Family
Welfare, Govt. of Haryana and Dr.
Saket Kumar, Director, Department
of AYUSH, Govt. of Haryana
appreciated PHD Chamber’s efforts
for making the Arogya Mela 2016
successful.
Visitors at the Exhibition
44
Seminar on Importance of Intellectual Property
Rights for MSMEs
Mr J P Agarwal , President , DLF Industrial Area Association , Faridabad , Ms Kanchan Zutshi , Secretary , Committee on MSME , PHD Chamber; Mr Ravi Bhushan
Kathri , General Secretary,Laghu Udyog Bharti, Faridabad Chapter; Mr Arun Bajaj , President , Laghu Udyog Bharati ,Faridabad Chapter, Dr Rekha Chaturvedi,
MHRD IPR Chair Professor, Cluster Innovation Centre, University of Delhi;Ms. Anju Bajaj, Co-Chairman, Committee on MSMEs, PHD Chamber, Ms Nishi Shabana,
Senior Associate, Singhania and Partners; Mr Mithilesh Kumar . Deputy Secretary ,PHD Chamber
P
with
Ministry of MSME
and Laghu Udyog Bharati
organized a seminar on “Importance
of Intellectual Property Rights for
MSMEs” on
March 17, 2016 at
Faridabad. The principal objective
of organizing the above event was
to raise the level of awareness and
interest/knowledge about IPR Rights
in MSMEs . IP affects SMEs in almost
every aspect of business development
and competitive strategy: from
product development to product
design, from service delivery to
marketing and from raising financial
resources to exporting or expanding
businesses abroad through licensing
or franchising.
Mr Ravi Bhushan Kathri, General
Secretary, Laghu Udyog Bharati,
Faridabad
Chapter
welcomed
dignitaries on the dais and further
said that awareness of IPR benefits
to the MSMEs is mainly on two
fronts. Firstly, how they can protect
their creations i.e. to protect their
own intellectual property rights
and secondly, how they can avoid
violating
intellectual
property
rights of others. Furthermore, this
increased awareness will encourage
MSMEs to make better use of IPR
system and make it an integral part
of their business strategy, Mr. Kathri
further asserted.
requirements. IPR protection helps
SMEs to maintain their competitive
edge in both domestic and global
markets. She stated that programs
like these provide a great opportunity
to academic as well as the industrial
sector and both should make best use
of it.
Mr. Arun Bajaj, President, Laghu
Udyog Bharati Faridabad Chapter
said IP has gained centre stage and
has attained more focus and is a
subject matter of discussion between
government, institutions, industries
under various regimes and protocol
that are put in place to ensure that
the world in which we live, where
knowledge and innovation are the
engines of development and growth.
Dr. Rekha Chaturvedi, MHRD
IPR Chair Professor, Cluster
Innovation
Centre,
University
of Delhi mentioned that lack of
IPR education, lack of interests
amongst industries to encourage
R& D and lack of motivation to
encourage commercialization of
inventions are major bottlenecks in
commercialization and technology
transfer.
Ms Anju Bajaj, Co Chairman,
Committee on MSMEs, PHD
Chamber stated that recently
Intellectual
Property
Rights
Facilitation Centre (IPRFC) has been
set up by the Chamber with support
from the Ministry of MSMEs. The
key activities of this cell are to assist
innovators in addressing their IPR
Mr. Mihir Banerjee, Vice President,
Indian Plastic Institute said that IPR
protection plays a key role in gaining
competitive advantage in terms of
technological gains for achieving
higher economic growth in a market
driven economy. for the Plastic
Industry.
45
assistance in this venture. The centre,
in addition to providing general
advisory about IPRs, such as patents,
trademarks, designs and copyrights
will also provide services related
to patent searches, patent drafting,
patent prosecution, facilitation in
commercialization of inventions,
trademark prosecution matters, etc.
Ms Anju Bajaj, Co Chairman, Committee on MSME,PHD Chamber, Mr Ravi Bhushan Kathri , General
Secretary,Laghu Udyog Bharati, Faridabad Chapter; Mr Arun Bajaj , President , Laghu Udyog Bharati
,Faridabad Chapter, Dr Rekha Chaturvedi, MHRD IPR Chair Professor, Cluster Innovation Centre,
University of Delhi; Ms Nishi Shabana, Senior Associate, Singhania and Partners, Mr. Mihir Banerjee ,
Vice President ,Indian Plastic Institute
Ms. Nishi Shabana, Senior Associate,
Rajani, Singhania & Partners, gave
a presentation on the importance
of IPR and how one can sustain
in this competitive world through
continuous growth and development
oriented innovations. She gave
examples of various brands like
NIKE, BAJAJ, TATA, etc which have
really done well in the market because
of their IPR and how one can reap
the benefits from them in the long
run. She exhorted the entrepreneurs
4646
to strive for excellence and protect
their IPR.
Ms Kanchan Zutshi, Secretary,
Committee on MSMEs, PHD
Chamber said that IPRFC of PHD
Chamber is equipped to offer quality
services in all areas of intellectual
property rights and comprises of
technical and legal experts having
extensive knowledge in the field
of intellectual property rights. The
facilitation centre also has a panel of
legal and technical experts to provide
Dr. Ranjeet Mehta
bags runners-up-trophy
in World Golf Cup 2016
Focus State- Jammu & Kashmir
3rd Shri Ram Sahai Memorial Lecture on
‘Digital India & Its Impact on Industry
Mr Gopal Jiwarajka, Senior Vice President, PHD Chamber delivering the Shri Ram Sahai Memorial Lecture
I
ndian Institute of Public
Administration(IIPA),
in
association with PHD Chamber,
organized the ‘3rd Shri Ram Sahai
Memorial Lecture’, in memory of
late Shri Ram Sahai who was one
of the founding members of IIPA
and the then Chairman of J&K
State Committee, PHD Chamber,
on February 20, 2016 at the regional
office of IIPA, J&K branch, Jammu.
President, PHD Chamber delivered
the 3rd Shri Ram Sahai Memorial
Lecture on ‘Digital India & Its
Impact on Industry’.
Mr. Jiwarajka, in his lecture pointed
out how the state of J&K can
benefit from the flagship initiative
of ‘Digital India’. He highlighted on
the impact of digitization on society
in general and industry in particular.
Emphasizing on its benefits, he
stressed on the key areas of the
initiative such as health, security,
increased speed of reach, tackling the
ills of corruption and unemployment.
Mr. Jiwarajka also emphasized on
effective implementation of other
flagship programs of the central
Mr Vikrant Kuthiala, Chairman, Jammu, Committee, PHD Chamber, addressing the gathering
government like ‘Make in India,’
‘Digital India,’ ‘Start-up India’ that
can augment overall growth and
development of the state of J&K.
Chief Guest, Mr. B. R. Sharma, Chief
Secretary, Government of Jammu
& Kashmir in his address paid rich
tributes to late Shri Ram Sahai ji
and acknowledged his contribution
to the Industry and other social
organizations of the state.
Mr. Vikrant Kuthiala, Chairman,
Jammu Committee, PHD Chamber,
remembered the Visionary Leader in
his address and highlighted various
facets of late Ram Sahai’s life and his
various roles with relevance to IIPA,
Chamber of Commerce & Industry
as well as many other organizations
like the one for disabled children by
the name “Sehyog” whose students
were also present at the event.
Mr Rahul Sahai, Co-Chairman,
Jammu Committee, PHD Chamber
in his vote-of-thanks expressed his
gratitude to all the dignitaries present
during the event. He also thanked the
PHD Chamber and IIPA for holding
the annual lecture series as well as
for paving the way for realizing the
dreams of his father, Late Shri Ram
Sahai.
47
Focus State- Jharkhand
Horticulture Conclave 2016 Harnessing the
Potential - Developing the State Economy...
T
he Jharkhand Chapter along
with Agribusiness Committee
of PHD Chamber organized
a “HORTICULTURE CONCLAVE
2016: Harnessing the Potential Developing the State Economy” on
March 18, 2016 at Jharkhand.
Chief Guest, Dr. Vishnu Rajgardia,
Media
Counselor,
Jharkhand
highlighted the agriculture budget
and policy of the government and
said that Jharkhand climate is very
good for all types of horticulture
products.
Mr. Pawan Bajaj, Co-Chairman,
Jharkhand
Committee,
PHD
Chamber stated that the State has
to go a long way in harnessing its
potential in the emerging avenues
in horticulture like organic farming,
seed production, food processing,
branding, packaging, trading and
exports having high potential of
growth.
Mr. Saket Modi, Member, Jharkhand
Committee, PHD Chamber in the
theme presentation highlighted that
the State of Jharkhand has huge
untapped potential in agriculture,
Mr.. Saket Modi, Member,Jharkhand Committee, PHD Chamber;Mr. Arun Khemka,Director , A3 Argo;
Mr. Pawan Bajaj, Co-Chairman, Jharkhand Committee, PHD Chamber; Mr. Deepak Rungta, Chairman,
Jharkhand Committee, PHD Chamber and Dr. Vishnu Rajgardia, Media Counselor, Jharkhand
horticulture
and
floriculture.
Horticultural development has a
vast potential not only in terms of
meeting the local requirements of
fruits, vegetables, flowers, medicinal
and aromatic plants but also in terms
of harnessing the opportunities for
generating employment and foreign
exchange through exports, he further
added.
Mr. Arun Khemka, Director, A3
Argo, in his address highlighted the
importance of this conclave and the
potential of Jharkhand horticulture
in the present scenario. He also
explained the problems faced by
farmers.
Technical Session 1- “Increasing
Productivity: Through Integrated
Approach & Maximizing Export” was
chaired by Prof. (Dr.) Suresh Prasad
Singh, Former Vice Chancellor, VKS
University, Ara, Bihar. The eminent
speakers stressed on the need for
better collaboration amongst the
shareholders to encourage private
investment and boost farmers’ income
as well, as there is a huge potential to
earn foreign exchange through export
of horticultural crops.
Technical Session II-“Future HortiPreneurs: Empowering Rural Women
and Developing Youths Enterprise”
was chaired by Mr. Arun Khemka,
Director, A3 Argo. The eminent
speakers discussed about developing
the state through increasing women
empowerment and development of
agriculture industry.
Mr. Deepak Rungta, Chairperson,
Jharkhand
Committee,
PHD
Chamber, delivered the formal vote
of thanks to all the delegates.
Eminent Speakers at Conclave.
48
Focus State- NER
Seminar on Challenges & Opportunities –
Technologies for Developing Food Processing Sector
would be reluctant to support the
project financially.
PHD memento being presented to Mr. J. P. Ramappa, Vice-Chancellor, The ICFAI University, Mizoram by
Mr. S. K. Hazarika, Resident Manager, PHD Chamber, NER
P
with the Ministry of Food
Processing
Industries,
Government of India organized
a seminar on Challenges &
Opportunities: Technologies for
Developing Food Processing Sector
on March 21, 2016 at Aizawl,
Mizoram.
Prof. J P Ramappa, Vice Chancellor,
ICFAI University Mizoram in
his address stated that perishable
nature of the food products is one
of the main challenges of the food
processing sector which reduces
its value with time. He emphasized
that for a viable food industry, the
infrastructure to collect, prepare,
transport, store, process and deliver
the food to the customer must be in
place.
Agri Business, PHD Chamber in
his welcome address shared the
initiatives taken by Chamber in the
North Eastern region.
Ms. K. Thanzami, Director, ZoEi
Enterprise in his address highlighted
on the challenges in the food
processing sector. She emphasized
that lack of experts and expertise
guidance slow down the spirit of
the prospective entrepreneurs as
well as lack of passion to set up the
food processing units. She stated
that finance has always ben an
important part in starting any of the
ventures and even if one prospective
entrepreneur has expertise in this
sector, many financial institutions
Two technical sessions were designed
covering the different aspects of the
Challenges & Opportunities along
with Technologies for Developing
Food Processing Sector. The first
session focused on the theme
“Challenges - Technologies for
Developing Food Processing Sector”
wherein Mr. P. C. Lalrikhuma,
Chairman, Horticulture Development
Society, Mizoram;
Dr. Santosh
Kumar, SMS, Horticulture, Krishi
Vigyan Kendra, CAU, Aizawl; Mr.
Joseph L. Ralte, General Secretary,
Mizoram Entrepreneurship Network;
Mr. H. Zorempuia, Director,
Mizoram Food Processing Industry
and Ms. K. Thanzami, Director,
ZOEI Enterprise shared their views.
The second session focused on the
theme “Opportunities – Technologies
for Developing Food Processing
Sector” wherein Dr. C Lalzarliana,
Director, Directorate of Agriculture,
Government of Mizoram;
Dr.
Saingura Sailo; Director, Department
of Animal Husbandry and Veterinary,
Government of Mizoram and Mr.
F. Lalhmangaiha, Chief Manager,
Mizoram Rural Bank, Aizawl Branch,
Mizoram shared their views.
Prof Ramappa stated that food
processing is the transformation
of raw ingredients, by physical or
chemical means into food or of food
into other forms. Food processing
combines raw food ingredients to
produce marketable food products
that can be easily prepared and served
by the consumer.
Mr. Durgesh C Sharma, Director,
Ms. K. Thanzami, Director, ZoEi Enterprise addressing the delegates
49
Focus State- NER
Seminar on Mega Food Park - Catalyzing Food
Processing Industry
Mr. Govindas Konthoujam, Hon’ble Minister of Commerce & Industries, Government of Manipur being
welcomed by Mr. Sudarshan Mundra, Chairman, North Eastern Committee, PHD Chamber
P
with Ministry of Food
Processing
Industries,
Government of India organized
a seminar on ‘Mega Food Park Catalyzing Food Processing Industry’
on March 15, 2016 at Imphal,
Manipur.
Chief
Guest,
Mr.
Govindas
Konthoujam, Hon’ble Minister of
Commerce & Industries, Government
of Manipur, in his inaugural address
emphasized the importance of the
food processing industries in the
country as well as in the State of
Manipur. He stated that food parks
have been key pillars in strengthening
the food processing industries from
farm to the factories. Being a highly
labour intensive sector, he highlighted
that food processing sector requires
less capital and is capable to generate
highest employment to the tune
of 12-13% higher than the textile
industry which accounts for only
10.86%. He accentuated on the urgent
need of commercialization of agro
horticulture products into various
food products through value addition
and consumer friendly products. He
stated that though Manipur is a small
state but has full potential for the
50
growth of food processing industries
as it is home to various food as well as
cash crops, fruits and vegetables and
fruits like pineapple, lemon, passion
fruits and spices like chilly, ginger,
turmeric, etc are specially grown in
hilly areas.
Mr. Govindas informed that Hon’ble
Chief Minister of Manipur has
recently launched ‘Make in Manipur’
to explore potential of agro industries
and the State has already set up one
food park equipped with the facilities
of cold storage, warehouses, water
supply, power supply and common
amenities, etc. He was of the view
that Mega Food Park would be
required to be established in the
State under the available financial
assistance of MOFPI, Government
of India. He stated that two locations
for setting up mega food parks have
already been identified in Impal East
and Imphal West. He also stated that
the ‘Mega Food Park’ would be a big
boost for the Food Processing sector
as it would provide both direct and
indirect employment.
Highlighting the organic farming, he
stated that Sikkim has been declared
as an Organic State and a lot of
privileges have been extended by
the Indian government for organic
farming. Hence, he appealed and
suggested to the entrepreneurs of the
State to avail these opportunities and
grow organic food in the State as well.
He stated that processed foods like
mushroom, bamboo shoots, Stevia,
lemon grass, etc. have potential to be
exported to South Eastern countries
from Manipur.
Mr. S K Hazarika, Resident Manager, PHD Chamber, NERl; Dr. Ranjeet Mehta, Director, PHD Chamber;
Mr. Okram Ibobi Singh, Chief Secretary, Government of Manipur; Mr. Govindas Konthoujam, Hon’ble
Minister of Commerce & Industries, Government of Manipur and Mr. Sudarshan Mundra, Chairman, North
Eastern Committee, PHD Chamber
Focus State- NER
Dr. Ranjeet Mehta, Director, PHD Chamber;Mr. Okram Ibobi Singh, Chief Secretary, Government of
Manipur; Mr. Govindas Konthoujam, Hon’ble Minister of Commerce & Industries, Government of Manipur
and Mr. Sudarshan Mundra, Chairman, North Eastern Committee, PHD Chamber
Guest of Honour, Mr. Okram Ibobi
Singh, Chief Secretary, Government
of Manipur, in his address thanked
PHD Chamber for organizing
this seminar and stated that PHD
Chamber has begun a new chapter in
Manipur by organizing this seminar.
Highlighting the potential of the
State, he mentioned that special rice
which is known as black rice and is
grown in China and other countries,
is now available in Manipur as well
and informed that black rice is
very aromatic, tasty and comes at
premium prices. He accentuated the
importance of packaging as well as
preservation for the food processing
industries. He also informed that
Rs. 400 crores have been assigned
for organic farming in the North
Eastern region which would provide
employment opportunities in the
State. He highlighted that the State
produces a number of Agri and Horti
produces which must be promoted
by the government and initiatives
be taken to export the same for
generating foreign exchange revenue.
He thanked and invited industry
members of PHD Chamber to sign
an MOU enabling to work together
to make Manipur a hub for food
processing.
Mr. Sudarshan Mundra, Chairman,
North Eastern Committee, PHD
Chamber in his welcome address
highlighted the main functions of
the Chamber and the linkages. He
proposed that PHD Chamber would
be keen to sign an MoU with the state
government to set up handholding
business opportunity in the State.
He further suggested that the
Chamber could be used as catalyst
for calling upon companies and
making a permanent representative
of the office, if a nodal officer can
be appointed by the state government
to ease the process of doing business
along with the cooperatives/
farmers/producers/ growers under
a single umbrella. Secondly, it will
help to provide training, imparting
respective
skills/techniques/buy
back operations and financing
(gap funding) by the representative
companies.
The two technical sessions coveried
different aspects of the Mega Food
Park - Catalyzing Food Processing
Industry. The first session focused
on the theme “Exploring Potential
for Setting up Mega Food Park in
Manipur” wherein Mr. Jiten Singh,
Deputy Director (Food) Ministry
of
Commerce & Industries,
Government of Manipur; Professor
Dinabandhu
Sahoo,
Director,
Institute of
Bioresources &
Sustainable Development (IBSD),
Department of
Biotechnology,
Government of India; Dr. W.
Ingo Meitei, Professor and Head,
Department
of
Horticulture,
College of Agriculture, Central
Agricultural University, Manipur and
Mr. Joykumar Thangjam, Managing
Director, Thangjam Agro Industries
shared their views.
The second session was focused on
the theme of “Role of Supporting
Agencies for Catalyzing Food
Processing Growth” whereas
Mr. K Jogesh Chandra Sharma,
Dy. Director, Horticulture and
Soil Conservation, Directorate of
Horticulture and Soil Conservation,
Govt. of Manipur; Dr. N Prakash,
Joint Director, ICAR, Manipur;
Prof. N. Rajmuhon Singh, Dept. of
Chemistry, Manipur University; Ms.
Hanjabam Shubra Devi, MD, MEIRA
Foods and Dr. Lamabam Ibomcha
Singh, Manager – North East, One
Cert Asia Agri Certification (P) Ltd.
shared their views.
More than 150 delegates attended
the seminar and appreciated the
endeavours of the Ministry of Food
Processing Industries and PHD
Chamber for organizing this event.
A view of delegates
51
Focus State- Rajasthan
Workshop on E-Waste Management - Challenges,
Prospects and Strategies
Mr. Prateek, Founder, Zero waste Recycling Private Limited; Dr. Lakshmi Raghupathy, Former Director,
Ministry of Environment Forest & Climate Change; Dr. Ajay Data, Chairman, Rajasthan Committee; Mr. A
K Jain, Managing Director, Rajasthan Electronics & Instruments Limited; Dr V K Singhal, Chief Engineer
Environment, Rajasthan Pollution Control Board; Mr. Hariom Dubey, Head, Clean Up & Recycles for
Environment. (CURE)and Ms. Kanchan Zutshi, Secretary, Environment Committee.
P
with
the
Ministry
of
Environment, Forest and
Climate Change organized a
workshop on E-Waste Management
- Challenges, Prospects and strategies
Jaipur.
Mr. A. K. Jain, Managing Director,
Rajasthan
Electronics
and
Instrumentation Limited (REIL),
said that there is a huge scope in the
field of recycling of e-waste in India.
The slums of Mumbai are the largest
dumping ground for such waste.
“There is a great need to organize this
industry. Currently, the trade is in the
hand of unorganized scrap dealers
and people are not getting value for
their discarded electronic items. The
government should take steps in
promoting organized players to take
up the task to operate in this sphere,”
he said.
He said that with the advent of IT
revolution and mobile mania, the
amount of e-waste in the country
has gone up tremendously and
the government should have clear
guidelines on export and import of
such wastes which can help recyclers.
Dr. Lakshmi Raghupathy, Former
Director, Ministry of Environment
52
& Forest stated that an important
aspect in the process of compliance
of any rules is the creation of
awareness among the stakeholders on
the various aspects of the products,
including the requirements for the
environmentally sound management
of the product at the end of life. She
mentioned awareness is also essential
regarding the hazardous constituents
present in the equipments as well as
the safe handling and disposal of the
product after its use. She emphasized
that the producers should provide
information on safe handling of the
product to ensure its safe delivery and
installation for use and also provide
information for safe handling of the
end-of-life product.
Mr. Prateek Goel founder and chief
executive officer of Zero Waste
Recycling Pvt. Limited, opined that,
“Now a days the majority of e-waste
is manually separated, dismantled,
and then sent for further processing.
Use of separators, magnets, and
other techniques that target plastics,
copper, precious metals, steel, and
aluminum is how we recycle about
99.9% of the materials the company
accepts.” But the threshold amount
of the e-waste needed to run the
machine is the biggest challenge in
operating a recycling plant.
Mr. Hariom Dubey, Head, Clean Up
& Recycles for Environment said that
the E-Waste can be described as loosely
discarded, surplus, obsolete, broken,
electrical or electronic devices which
are at the end of their useful life and
need to be disposed or dismantled to
recover some valuable components.
The problem of E-Waste has become
an immediate and long term concern
as its unregulated and improper
accumulation and recycling can lead
to major environmental problems
endangering not only human and
animal health but also environment
health due to toxic and other
dangerous materials available in them.
He called for a good framework of
information distribution as E-Waste
issues can create good chain of
awareness in the society, enhancing
the responsible way for disposal of
e-waste.
Dr. V. K. Singhal, Chief Engineer
Environment, Rajasthan Pollution
Control Board said that the state
government is keen on recycling of
the e-waste. “E-waste is a valuable
resource for any industry. Recycling
of e-waste not only saves money but
also saves the environment. The state
is strict in monitoring the disposal of
e-waste in a radical manner,” he said.
Dr. Ajay Data, Chairman, Rajasthan
Committee,
PHD
Chamber
emphasized on the role of all stake
holders in E-waste management
to come together ensuring safe
disposal of E-Waste for sustainable
development.
This training programme presented
a waste management system
with shared responsibility for the
collection and recycling of electronic
wastes amongst the manufacturers,
assemblers, importers, recyclers,
regulatory bodies and the consumers.
Workshop on E-Waste Management - Challenges,
Prospects and Strategies
P
with the Ministry of
Environment Forest and
climate change organized a workshop
on Hazardous Waste Management
on March 1-2, 2016, PHD House,
Jaipur.
Dr. Ajay Data, Chairman, Rajasthan
Committee, PHD Chamber in his
welcome address stated that the
exponential growth in the chemical
industries has led to the release of
huge quantity of wastes, potentially
hazardous to the environment and
living organisms including humans.
Indiscriminate disposal of such
wastes on land and water bodies
have led to the contamination of
surface and ground water supply
due to chemicals leaching out of the
wastes; dump sites posing potential
risk to human health, has trigged the
mechanism to establish a system for
safe disposal, added Mr. Data.
Dr. Lakshmi Raghupathy, Former
Director, Ministry of Environment,
Forest & Climate Change in
her address on ‘Trans boundary
Movement of Hazardous Waste for
Recycling’, briefed the participants
on conditions for trans boundary
movements (TBM)where parties
are under an obligation to take
appropriate measures to ensure
that TBM of hazardous wastes and
other wastes are only allowed if one
of the three following conditions
is met such as a) the state of
export does not have the technical
capacity and the necessary facilities,
capacity or suitable disposal sites
in order to dispose of the wastes
in question in an “environmentally
sound manner”; or b) the wastes in
question are required as raw material
for recycling or recovery industries in
the state of import; or c) the TBM
Mr. Mukesh Yadav, Manager, Ramky Infrastructure, Mr. Sandeep Kapoor, Regional Sales Head (North),
Geocycle India and Ms. Kanchan Zutshi, Secretary, Environment Committee.
in question is in accordance with
other criteria decided by the Parties.
She also elucidated procedures for
transboundary movements and four
key stages such as a) notification; (b)
consent and issuance of movement
document;
(c)
transboundary
movement; and (d) confirmation
of disposal required for TBM of
hazardous wastes and other wastes
and special rules: application of the
mutatis mutandis principle.
Mr. Sandeep Kapoor, Regional
Sales Head (North), Geocycle
India, in his address on incineration
and hazardous waste utilization in
cement plants mentioned that most
of the countries have guidelines to
comply with the requirements for coprocessing of waste but in India there
is a slow progress in incineration.
He emphasized that there should
be more effective enforcement of
incineration to conserve our natural
resources and monitoring mechanism
needs to be evolved. He further
added that best option is minimizing
waste generation and if generation is
inevitable reuse, recycle and recovery
should be the mantra.”
Mr. Sanjay Kothari, Senior Engineer,
RPCB talked about guidelines for
waste management and disposal and
suggested that industries generating
waste oil should deposit to recyclers
but not for the lubrication. He also
mentioned that transportation of
hazardous waste is the important
link in hazardous waste management
system and it requires precise control
to ensure safe disposal of such waste.
Mr. Mukesh Yadav, Manager, Ramky
Infrastructure informed that the
company has identified dedicated
land for landfilling in Udaipur region
where the company is operating in
the state. The wastes are treated so
that they don’t create any hazard
when disposed off. The company
uses modern technology in dealing
with hazardous waste,” he further
informed.
Regional Director, PHD Chamber
delivered the vote-of-thanks to the
guests on the occasion.
53
Conference on Start-Ups: The Way Forward
Mr. Rituraj Tiwari, Resident Director, Rajasthan Chapter PHD Chamber; Mr. Deepanshu Khandelwal, Editor-in-Chief, Thetechportal.in; Mr. M. L. Gupta, Co-chairman,
Rajasthan Chapter PHD Chamber; Mr. Girish Gupta, CEO, Rajasthan Venture Capital Fund; Mr. Ajay Data, Chairman, Rajasthan Chapter PHD Chamber; Mr.
Vaibhav Galrita IAS, Commissioner, Bureau of Investment Promotion Rajasthan; Mr. Vivek Malhotra, General Manager, SIDBI; Mr. Sandeep Jhanwar, Partner, MGB
& Co and Mr. Adarsh Mahipal Gupta, Co-chairman, Rajasthan Chapter PHD Chamber.
P
with SIDBI, RVCF and
Acquisory
organized
a
conference on ‘Start Ups: The Way
Forward’ on March 12, 2016 at Hotel
Clarks Amer, Jaipur.
Mr. M. L. Gupta, Co-chairman,
Rajasthan Chapter, PHD Chamber
delivered the welcome address at the
conference.
While presenting the theme
presentation, Mr. Ramesh Gandhi,
Chairman, Gandhi Foundation
mentioned
that
Rajasthan
government is promoting Start-Ups
in the state by creating a conducive
ecosystem
for
the
fledgling
entrepreneurs. He also showed
a short film on Start-Ups and
motivated new entrepreneurs to join
the bandwagon.
“This is the right time to strike. We
should not wait for things to happen.
We should make it happen,” said Mr.
Gandhi.
Mr. Ajay Data, Chairman, Rajasthan
Chapter, PHD Chamber emphasized
that mentoring is a very important
54
aspect for Start-Ups besides
arranging for finance and ideas. “As
a mentor I have been associated
with several Start-ups. They come
to me for guidance but then I share
my experience with them which
when they implement may give
them desired results. I also started
as a Start-Up when I founded Data
Infosys Limited. That was the time
when no one knew what Internet is,”
he added.
Chief Guest, Mr. Vaibhav Galriya
(IAS),
Commissioner,
Bureau
of Investment Promotion (BIP)
and NRIs informed that the
state government plans to set
up incubation centres at various
locations to promote new business
initiatives in the state. “The time
is ripe for Start-Ups to start in
Rajasthan where the government is
so proactive. We are here to nurture
and fund great ideas. This land of
entrepreneurs is bound to get more
new businessmen in times to come,”
he said.
He further informed that the
government would set up 50
incubators which would incubate
500 innovative Start-Ups in the next
5 years. “The state government with
mobile venture capital and angel
funds would create a corpus of Rs.
500 crore to support these Startups,” he said.
The conference was organized on
the backdrop of Prime Minister, Mr.
Narendra Modi’s much needed push
to ‘Start-up India’. It will help Startups and catalyse entrepreneurship as
both are critical for India’s efforts to
restart private investment into the
economy, in the face of risk aversion
and stalled or slow investments from
corporate India.
Guests of Honor, Mr. Vivek
Malhotra, General Manager, SIDBI
stated that the bank has a fund of
Rs 2000 crore for supporting StartUps. “SIDBI plays a proactive
role in development of business
environment. We are here to support
any good business idea,” he further
added.
Guests of Honor, Mr. Girish Gupta,
CEO, Rajasthan Venture Capital
Focus State- Uttar Pradesh
Mr. Deepanshu Khandelwal, Editor-in-Chief, Thetechportal.in; Mr. M. L. Gupta, Co-Chairman, Rajasthan Chapter PHD Chamber; Mr. Girish Gupta, CEO, Rajasthan
Venture Capital Fund; Mr. Ajay Data, Chairman, Rajasthan Chapter PHD Chamber; Mr. Vaibhav Galrita IAS, Commissioner, Bureau of Investment Promotion
Rajasthan; Mr. Vivek Malhotra, General Manager, SIDBI; Mr. Sandeep Jhanwar, Partner, MGB & Co.; Mr. Ramesh Gandhi, Co-chairman, Start Ups Committee,
Rajasthan Chapter PHD Chamber and Mr. Rituraj Tiwari, Resident Director, Rajasthan Chapter PHD Chamber
Fund (RVCF) said that India is the
fastest growing country in terms of
Start-Ups. “We are growing at the
rate of 40 percent, which is highest
in the world. RVCF is committed
to provide easy finance to new as
well as established companies. We
will be lending at least one-third to
Rajasthan based companies,” he said.
Mr. Sandeep Jhanwar, Partner, MGB
& Co said that Start-Up is not a new
concept. “It was there in Indian
family since time immemorial. At
least one in every business family
used to be a Start-Up and family
and friends used to support him.
Now, the only difference is there is
no foundation to have a business
background to be a Start-Up,” he
said.
Mr. Deepanshu Khandelwal, Cofounder of Thetechportal.in opined
that money is not a problem for
good ideas and concepts. “There are
many investors who are waiting for
investment opportunities to come. If
you have good ideas, just go ahead,
funds will follow you,” he said.
Mr. Deepanshu Khandelwal, Editor-in-Chief, Thetechportal.in; Mr. M. L. Gupta, Co-chairman, Rajasthan Chapter, PHD Chamber; Mr. Girish Gupta, CEO, Rajasthan
Venture Capital Fund; Mr. Ajay Data, Chairman, Rajasthan Chapter, PHD Chamber; Mr. Vivek Malhotra, General Manager, SIDBI; Mr. Sandeep Jhanwar, Partner,
MGB & Co and Mr. Vaibhav Galrita IAS, Commissioner, Bureau of Investment Promotion Rajasthan
55
Focus State- Uttarakhand
Regional Seminar for Investors and SMEs Towards Inclusive Growth
T
he Uttarakhand Chapter of
PHD Chamber has been
conducting a
series
of Investors Awareness Seminars and
SME Financing Programs with NSE
across Uttarakhand for the last couple
of years. One such regional program
in collaboration with National
Stock Exchange was conducted
for ‘Investors and SMEs -Towards
Inclusive Growth’ on January 22,
2016 at SIIDCUL, Haridwar.
Mr. J.C. Jain, Patron Member, PHD
Chamber delivered the welcome
address. Ms. Rana Usman, Sr. AVP,
NSE initiated the proceedings of
the seminar while Mr. Anil Taneja
Regional Director PHD Chamber
moderated the sessions.
Chief Guest, Mr. Sharad Sharma,GM,
SEBI focused on two aspects of the
Financial Markets- investment market
complexities and SME Financing.
Ms. Renu Bhandari Chief Manager NSE; Ms.. Rana Usman Sr AVP NSE; Mr. Mohd. Atif Alvi DGM SEBI; Mr.
Anil Taneja Regional Director PHD Chamber and on Podium Mr..J.C.Jain Patron Member PHD Chamber.
The technical sessions were delivered
by Ms. RenuBhandari, Chief
Manager, NSE, Ms. Rana Usman, Sr
AVP, NSE, Mr. Mohammad AtifAlvi,
DGM, SEBI and Mr. Achin Jain, an
expert on Wealth Management. Apart
from this, Mr. S. Ganeshan (DGM)
SIDBI also made a presentation on
SME Financing.
The function was part sponsored
by Punjab National Bank (PNBHaridwar) and was also supported by
SIIDCUL Manufacturers Association
(SMA), Haridwar Management
Association (HMA) & Bhagwanpur
Industry Assoc. (BIA) and PHD
Chamber members including Mr.
Jagdish Pahwa.
Budget Viewing Session
T
he Uttarakhand Chapter of
a joint Budget Viewing
Session with Hindustan Times on
February 29, 2016 at HT Meeting
Room, Dehradun. This session was
connected with the Budget Viewing
Session of the Chamber’s head office
in Delhi through Web Cast.
Distinguished
members
of
Uttarakhand Chapter welcomed
the rural thrust in the Budget and
expressed that the state hoped for
specific announcements for hills.
Mr. S.P. Kochhar Chairman,
Uttarakhand Chapter, PHD Chamber
stated that although there is no
announcement for promotion of
the tourism sector, most vital for the
56
Mr. S P Kochhar, Chairman, UK Chapter, PHD Chamber ; Mr. Verendra Kalra , Co Chairman,UK Chapter,
and Mr. Anil Taneja, Regional Director, UK Chapter, PHD Chamber along with distinguished Guests
state, the state government should
channelize resources and central
assistance for better connectivity,
road mileage and invest in public
properties for promoting tourism.
Mr. Verender Kalra, Co- Chairman,
Uttarakhand Chapter, PHD Chamber
opined that if the tax regime is not
linked with inflation, absence of any
new tax relief is disadvantageous to
the individual tax payers.
57
57
Chamber at Work
Cohesive
Meeting with Minister
of State for Urban
Development and Minister
of State for Housing & Urban
Poverty Alleviation
Mr. Mukesh Gupta, Chairman-Tourism Committee
along with Mr. Yogesh Srivastav- Director, PHD
Chamber met Mr.Babul Supriyo, Hon’ble Minister
of State for Urban Development and Minister of
State for Housing & Urban Poverty Alleviation on
March 09, 2016 at Nirman Bhawan, New Delhi.
Meeting with
Minister of State (IC) for
Development of North
Eastern Region
A PHD Chamber delegation led by Mr. Sandeep
Aggarwal, Chairman-Railways Committee and the
secretariat team met Dr. Jitendra Singh, Hon’ble
Union Minister of State (IC) for Development of
North Eastern Region & MoS of Science and
Technology, Earth Sciences, Prime Minister Office,
Personnel, Public Grievances and Pensions,
Department of Atomic Energy, and Department
of Space on March 21, 2016 at North Block, New
Delhi.
Meeting with Minister of
State for External Affairs
A PHD Chamber delegation led by Mr. Rajnish
Goenka, Chairman, International Affairs Committee
- Americas (North), along with Mr. Ashwariya
Kumar Doval, Secretary, International Affairs met
Gen. (Dr.) V. K. Singh on March 17, 2016 to invite
him and seek his suggestions for the upcoming
“2nd Smart Transportation Infra”: Summit & Expo
2016.
58
Chamber at Work
Interface
Meeting with Minister of
Health, Medical Education,
AYUSH, Sports and Youth
Affairs, Govt. of Haryana
The Secretariat team of PHD Chamber comprising
of Mr. Vivek Seigell, Director-Health Committee
along with Mr Sameer Kant Ahuja, Senior Assistant
Secretary called on Mr. Anil Vij, Hon’ble Minister
of Health, Medical Education, AYUSH, Sports and
Youth Affairs, Government of Haryana on February
17, 2016 at Ambala
The delegation invited the Hon’ble Minister to be
the Chief Guest for the Arogya Mela 2016 which
was held from March 3-6, 2016 at Ambala Cantt.,
Haryana.
Meeting with Secretary,
Ministry of Micro, Small &
Medium Enterprises
A PHD Chamber delegation led by Mr. Anil
Khaitan, Vice President along with Mr Vishwanath,
Chairman and Ms. Anju Bajaj, Co-Chairman,
MSME Committee, Mr. Saurabh Sanyal, Secretary
General, Mr Vivek Jain, Head, Karameros
Electronics Ltd and the Secretariat team met Dr.
K. K. Jalan, Secretary, Ministry of Micro, Small and
Medium Enterprises on February 22, 2016 at New
Delhi. Mr. Anil Khaitan apprised the Secretary that
PHD Chamber was keen to establish a Help Desk
at Chandigarh for compliances office for the benefit
of MSMEs.
Meeting with Secretary,
Ministry of Road Transport
and Highways
A PHD Chamber delegation led by Mr. Rajnish
Goenka, Chairman, International Affairs Committee
- Americas (North) along with Mr. Ashwariya Kumar
Doval, Secretary, International Affairs and Mr.
Sidharth Tewari, Manager, KPMG met Mr. Sanjay
Mitra, Secretary, Ministry of Road Transport and
Highways on March 11, 2016 to invite him and
seek his suggestions for the upcoming “2nd Smart
Transportation Infra”: Summit & Expo 2016.
59
Chamber at Work
Cohesive
Meeting with Secretary
(DARE) & DG (ICAR)
A PHD Chamber delegation led by Mr. Anil
Khaitan, Vice President along with Mr. Surinder
Kalra, Co-chairman, Foreign Trade & Investment
Committee, Mr. Durgesh C Sharma, Director and
Mr. Mohit Jaura, Sr. Assistant Secretary met Dr.
S. Ayyappan, Secretary (DARE) & DG (ICAR) on
February 15, 2016. The delegation discussed
collaboration issues with the Ministry of Agriculture.
Meeting with Hon’ble Justice
Dr. A S Anand, Former Chief
Justice of India
A PHD Chamber delegation led by Mr. Saurabh
Sanyal, Secretary General along with the
Secretariat team met Hon’ble Justice Dr. A. S.
Anand, Former Chief Justice of India on March
19, 2016 at his residence in Noida. The delegation
invited Dr. Anand to be a jury member for PHD
Chamber’s Annual Awards for Excellence 2016
and also presented him a memento.
Meeting with Additional
Secretary, DeitY, Ministry
of Communications &
Information Technology
Brig. HPS Bedi, VSM (Retd), Advisor, Retail,
E-commerce & FMCG Committees, PHD Chamber
along with Ms. Arunima Pathak, Executive Officer,
PHD Chamber met Dr Ajay Kumar, IAS, Additional
Secretary, DeitY, Ministry of Communication and
Information Technology on March 18, 2016 at his
office in New Delhi to invite him to be the Chief
Guest at the seminar on ‘Unleashing Growth
Potential of E-Commerce in India - Opportunities
and Challenges’ to be held in April, 2016.
60
Chamber at Work
Interface
Meeting with Principal
Secretary, Food Processing
Govt. of Uttarakhand
A PHD Chamber delegation led by Mr. Anil Khaitan
Vice President along with Mr. S.P.Kochhar,
Chairman Uttarakhand Chapter, Mr. Ashish
Agarwal Co Chairman Banking Committee, Mr. Anil
Taneja, Regional Director and Mr. Harendra Garg,
President of Member Association SMA at SIIDCUL,
Haridwar met Dr. Ranbir Singh, Principal Secretary
Food Processing, Agriculture & Horticulture on
March 4, 2016 at Dehradun. A representation was
submitted on promotion of agri based business,
horticulture and food processing industry for
inclusive growth in the state.
Meeting with Ambassador of
Saudi Arabia
A PHD Chamber delegation comprising of Mr. V.K
Mishra, Chairman, International Affairs Committee
for Middle-East and Dr. Jatinder Singh, Sr.
Secretary, International Affairs Committee met H.E.
Dr. Saud Mohammed Al Sati, Ambassador of Saudi
Arabia on March 14, 2016 at New Delhi. During the
meeting, concerns related to foreign trade were
discussed along with focus on green-renewable
energy and infrastructure.
Meeting With Ambassador,
Sultanate of Oman
A PHD Chamber delegation comprising of Mr. V.K
Mishra, Chairman, International Affairs Committee
for Middle-East and Dr. Jatinder Singh, Sr.
Secretary, International Affairs Committee met H.E.
Sheikh Hamed bin Saif bin Abdul Aziz Al Rawahi,
Ambassador, Sultanate of Oman on March 14,
2016 at New Delhi. The meeting focused on
strengthening investment ties between both the
nations.
61
62
Special Feature
Union Budget, 2016: Mixed bag of
contentment and despair
Bimal Jain, Executive Director, A2Z Taxcorp, LLP and Isha Bansal, Senior Associate, A2Z Taxcorp, LLP
A
ffirming that the economy is
right on track, the Hon’ble
Finance Minister, Mr. Arun
Jaitley presented the Union Budget for
2016-17 on February 29, 2016. Arun
Jaitley in his ‘Make in India’ Budget
speech laid emphasis on agriculture,
farmers’ welfare and on the rural
sector and social sector, including
healthcare, educational skills and job
creation to make India a knowledge
based productive economy. He
also made announcements on
infrastructure investment to enhance
the quality of life; financial sector
reforms; governance reforms and
ease of doing business; prudent
management of the government
finances and tax reforms to reduce
compliance burden.
The Union Budget, 2016, also
proposing flurry of changes in
Indirect Taxes, has been a talk
of the town since the day of its
presentation. This Article attempts to
outline broader changes in the arena
of Indirect Taxes, majorly Service
tax coupled with analysis of the two
sides of the Union Budget, 2016,
highlighting some of the key areas
requiring immediate attention of the
Board.
Many positive amendments What’s in bag for the Trade &
Industry to relish
Rationalisation of rate of interest
on delayed payments – 15%/24%
per annum
Reduction in rate of interest on
delayed payment of taxes to 15%
as against 18% (for period upto 6
months)/ 24% (for period from 6
months to 1 year) and 30% (for period
exceeding 1 year) under Service tax,
is surely a step much towards the
expectation of the industry.
Interest rates on delayed payment
of duty/tax across all indirect taxes
is proposed to be made uniform at
15%, except in case of Service tax
collected but not deposited with
the Central Government, in which
case, the rate of interest will be 24%
from the date on which the Service
tax payment becomes due. In case
of assessees, whose value of taxable
services in the preceding year/years
covered by the notice is less than
Rs. 60 lakhs, the rate of interest on
delayed payment of Service tax will
be reduced by 3% i.e. it will be 12% or
21% in case of Service tax collected
but not deposited.
Enhanced monetary limits for
imprisonment provision & power
to arrest
Section 89 of the Finance Act, 1994
(“the Finance Act”) is proposed to be
amended to enhance the monetary
limit for punishable offences to Rs.
2 crore from Rs. 50 lakhs. Further,
by way of amendment in Section 90
and Section 91 of the Finance Act,
the power to arrest under Service tax
law is proposed to be restricted only
to situations where the tax payer has
collected the tax but not deposited it
with the exchequer within a period of
6 months, and threshold amount of
such tax collected but not deposited
is of Rs. 2 crore as against Rs. 50
lakhs.
Retrospective
Service
tax
exemption allowed on certain
contracts
The Government has proposed to
introduce three new Sections under
Service tax, namely Sections 101, 102
and 103 in the Finance Bill, 2016, so
as to restore certain exemptions which
were withdrawn in the previous years,
in the following manner:
Section 101 - Retrospective Service
tax exemption to canal, dam or other
irrigation works:
The definition of “Governmental
authority” as contained under the
Mega
Exemption
Notification
No. 25/2012-ST dated June 20,
2012 (“the Mega Exemption
Notification”) was amended w.e.f
January 30, 2014 vide Notification
No. 02/2014 – ST dated January
30, 2014. Consequently, services
provided by way of construction,
erection, maintenance, or alteration
etc. of canal, dam or other irrigation
works providedto entities set up
by Government but not necessarily
by an Act of Parliament or a State
Legislature were exempted w.e.f.
January 30, 2014 [Entry No. 12(d) of
the Mega Exemption Notification].
However, services provided prior
to January 30, 2014 to such bodies
remained taxable.
Section 101 is proposed to bring the
aforesaid change in the definition
of Government authority with
retrospective effect i.e. from July 01,
2012 to January 29, 2014 with regard
to the services relating to canals, dams
and other irrigational works.
Section 102 - Restoration of certain
exemptions withdrawn w.e.f April 1,
2015: Exemption from Service tax on
services provided to the Government,
a local authority or a Governmental
authority by way of construction,
erection, commissioning, installation,
completion, fitting out, repair,
maintenance, renovation, or alteration
of:
63
Special Feature
i.a civil structure or any other original
works meant predominantly for use
other than for commerce, industry,
or any other business or profession;
ii.
a structure meant predominantly
for use as (i) an educational, (ii) a
clinical, or (iii) an art or cultural
establishment;
iii. a
residential
complex
predominantly meant for selfuse or the use of their employees
or other persons specified in the
Explanation 1 to Section 65B(44)
of the Finance Act was withdrawn
with effect from April 1, 2015 vide
Notification No. 6/2015-ST dated
March 1, 2015 [Entry No. 12(a),
(c) & (f) of the Mega Exemption
Notification].
Now, a new Section 102 is proposed to
be inserted to provide restoration of
Service tax exemption for the services
provided under a contract which had
been entered into prior to March
1, 2015 and on which appropriate
stamp duty, as applicable, had been
paid prior to that date. Further, vide
corresponding amendment in the
Mega Exemption Notification [New
Entry 12A], such exemption is being
restored till March 31, 2020.
Section 103 - Restoration of certain
exemption withdrawn on Airport or
port w.e.f April 1, 2015: Exemption
from Service tax on services by
way of construction, erection,
commissioning or installation of
original works pertaining to an airport,
port was also withdrawn with effect
from April 1, 2015 [Entry No. 14 of
the Mega Exemption Notification].
Now, a new Section 103 is proposed
to be inserted to provide restoration
of Service tax exemption for the
services provided under a contract
which had been entered into prior
to March 1, 2015 and on which
appropriate stamp duty, as applicable,
had been paid prior to that date,
subject to production of certificate
64
from the Ministry of Civil Aviation
or Ministry of Shipping, as the case
may be, to that effect. Further, vide
corresponding amendment in the
Mega Exemption Notification [New
Entry 14A], such exemption is being
restored till March 31, 2020.
Refund Mechanism also provided:
The proposed Sections 101, 102 and
103 also provides refund mechanism
where the assesse has deposited
any Service tax in respect of such
contracts/ period, as now has been
exempted retrospectively.
Such grant of Service tax exemption
with retrospective effect along with
refund mechanism is unmatched and
marks paradigm shift in the history
of retrospective amendments.
Taxability of IT Software –
clarified to avoid double taxation
(Excise Vs. Service tax):
by rail at a reduced abatement rate
of 60% being allowed;
yy Cenvat credit of input services on
transport of goods by vessel at the
existing rate of abatement of 70%
being allowed.
Flip side of the Union Budget,
2016 – Amendments that needs to
be addressed
Krishi Kalyan Cess on all taxable
services w.e.f. June 1, 2016 –
Impact on “Make in India” and
“Start-up India” drive
Pursuing with an objective to finance
and promote initiatives to improve
agriculture and farmer welfare, the
Government announced a new
cess namely ‘Krishi Kalyan Cess’
(“KKC”), to be levied at 0.5% on the
value of any or all the taxable services
w.e.f June 1, 2016.
Canned software has been exempted
from Service tax and customized
software has been exempted from
CVD / Excise duty. These changes
will provide certainty and avoid
double taxation by streamlining the
taxation of software.
Input service credit allowed on
certain services with abatement:
As against the condition of no Cenvat
credit either on inputs, input services
or capital goods, Cenvat credit on
input services is being allowed with
effect from April 1, 2016 for the
following services:
yy ‘KKC’ though said to be
Cenvatable,
but
appropriate
amendments also required in the
Cenvat Credit Rules, 2004: In terms
of TRU F. No. 334/8/2016-TRU
dated February 29, 2016 [Para 3.1],
it is provided that Cenvat credit
of KKC paid on input services
shall be allowed to be used for
payment of the proposed Cess on
the service provided by a service
provider. However, corresponding
changes are yet to be incorporated
in the Cenvat Credit Rules, 2004.
transport of goods, other than in
containers by rail at the existing
rate of abatement of 70% being
allowed;
yy KKC viz-a-viz Make in India:
KKC has been made Cenvatable
(as stated in TRU Letter), only to
the service providers for payment
of the proposed Cess on the
services provided. Manifestly, the
manufacturers paying KKC on
their input services would not
be in a position to avail Cenvat
credit of the same and thus would
form part of their cost, leading to
increase in prices to that extent.
transport of goods in containers
yy KKC viz-a-viz Ease of doing
business: Whereas these steps are
transport of passengers by rail at
the existing rate of abatement of
70% being allowed;
Special Feature
said to be taken for improvement
of agriculture and welfare of
farmers, it seems to hit ‘Start up
India’ initiative of our Hon’ble
Prime Minister, as:
yy An entrepreneur craves for
simplicity of taxes. However, it is
likely that a separate accounting
code will be prescribed for KKC
and the service providers will
be required to display the same
separately on invoices and also to
deposit separately;
yy Paying Service tax at 15% may
not be a problem, but maintaining
separate accounts for Service tax
and various Cesses, their records
& computation, followed by
corresponding Cenvat provisions
is somewhat a cumbersome task.
Increase in limitation period for
issuing SCN – Against “Ease of
doing business”
The Union Budget, 2016 has
proposed to increase limitation of the
time period for issuing SCN under
the Service tax, Central Excise and
the Customs in non-fraud cases
yy In this Era of automation when
there is compulsory e-filing
of returns & numbers of
Commissionerates have been
increased, there is no requirement
of extended time period for
issuing SCN.
yy Considering the high numbers
of cases pending under the
Indirect tax since many years,
time limit needs to be strengthen
for adjudication of cases rather
than liberty of extended time for
issuing SCNs.
yy Time limit restraining an assessee
to avail eligible Cenvat credit on
Inputs/Input services should be
extended to 2 years at least rather
than extension of the time period
for issuance of SCN - Non fraud
cases
Relaxation in time limit for issuing
SCNs in non-fraud cases is likely
to go detrimental to ease of doing
business initiative giving unwanted
contradictory message of lethargic
system to the budding start up
entrepreneurs and outside World.
Withdrawal of exemption on
monorail or metro – a hit on
infrastructure development
Effective from March 1, 2016,
exemption to construction, erection,
commissioning or installation of
original works pertaining to monorail
or metro is being withdrawn [Entry
No. 14 of the Mega Exemption
Notification], except where contracts
were entered into before March 1,
2016 & on which appropriate stamp
duty, was paid. Such withdrawal
is again a hit to the infrastructural
development initiatives of the
Government.
Service tax leviable under Reverse
Charge on any services provided
by Government or Local Authority
to a Business Entity w.e.f April 1,
2016: Alarming Bell
Effective 1, 2016, under clause (iv) of
Section 66D(a) of the Finance Act,
the words ‘support services’ will be
substituted by the words ‘any service’
thereby, to exclude from the Negative
List, any services provided by the
Government or Local authority to
a Business Entity [Section 109(1)
of the Finance Act, 2015 read with
February 18, 2016]. However, the
services provided by Government or
Local authority to a Business Entity
having turnover upto Rs. 10 lakh in
the preceding Financial Year would
remain exempt [New entry inserted
vide after Entry No. 47 in the
Mega Exemption Notification vide
February 18, 2016].
Consequently, the Union Budget,
2016 vide Notification No. 18/2016-
ST dated March 1, 2016, has amended
Reverse Charge Notification No.
30/2012-ST dated June 20, 2012, to
delete the words “by way of support
services” appearing at Sl. No. 6 of the
Table. Corresponding changes have
also been made in Rule 2(1)(d)(i)(E)
of the Service Tax Rules, 1994. Thus,
the liability to pay Service tax on any
service provided by Government or a
Local Authority to Business Entities
shall be on the service recipient w.e.f.
April 1, 2016 except (1) renting of
immovable property, and (2) services
specified in sub-clauses (i), (ii) and
(iii) of clause (a) of Section 66D of
the Finance Act.
Impact of above changes:
There are certain services rendered
as a sovereign right by Government/
various Public Authorities (set up
by Government) which cannot be
substituted by any private party. For
example, there are various types of
Statutory charges and fees e.g. ESI
inspection, PF inspection, Motor
Vehicles Registration charges, fees
payable to ROC for filing statutory
forms, fees for getting various
authorisations, permissions, licenses
etc. for various purposes like import
and export etc. Even, the Government
collects big chunk of money by
allocation of coal blocks/grant of
mining license, telecom spectrum etc.
which are in the nature of payment
of royalty to Government for use of
natural resources.
Having said that, ‘ANY service’
provided by Government or Local
Authority to a Business Entity, it
appears that all such services which
are in the nature of sovereign rights
would also come under the purview
of Service tax. However, applying
the inference of the meaning of the
term ‘Consideration’ which has to
be ‘at the desire of promisor’, it may
be contended that only the ‘fees’ for
rendering a service ‘at the desire of
business entity’ should be subject to
Service tax. But, in case of regulatory
65
Special Feature
fees, there is no ‘service’ rendered and
thus, no Service tax may be exigible.
In the Union Budget, 2016, under
Section 66E of the Finance Act,
after clause (i), clause (j) is inserted
to include “assignment by the
government of the right to use
the radio-frequency spectrum and
subsequent transfers thereof ” under
the list of Declared services i.e. the
same is a ‘service’ leviable to Service
tax and not sale of intangible goods
and the liability to pay Service tax will
on the Business Entity under Reverse
Charge.
Indirect Tax Dispute Resolution
Scheme, 2016: Clouds of doubt on
success quotient
Under the Indirect Taxes, the scheme
namely, the Indirect Tax Dispute
Resolution Scheme, 2016 (“the IDT
DRS Scheme, 2016”), introduced
in the Union Budget, 2016 as the
Government’s positive intent to
reduce litigation in Indirect Taxation,
embraces an important question on
its success quotient, considering its
not-so-lucrative provisions.
The IDT DRS Scheme, 2016 which
shall come into force on June 1, 2016
(operative till December 31, 2016)
will be applicable for all the disputes
pertaining to Customs, Central Excise
and Service Tax matter, which are
pending before the Commissioner
(Appeals) as on March 1, 2016. To
avail the benefit of the Scheme, the
Declarant will have to pay duty/
tax liability along with interest and
penalty equivalent to 25% as imposed
in the Impugned Order i.e. Order-InOriginal (“OIO”).
Some of the shortcomings in the
IDT DRS Scheme, 2016, which puts
a question mark on its success, are
discussed as under:
yy Restricting the scope of the IDT
DRS Scheme, 2016 only for the
cases pending at Commissioner
(Appeals) level, will minimise its
66
Service tax vide Section 83 of the
Finance Act, 1994 and to Customs
vide Section 129E of the Customs
Act, 1962;
impact, when the quantum of the
cases pending at the Appellate
Level and before Courts are far
higher. Further, only for the cases
involving the duty/ tax amount
upto Rs. 50 Lakhs, an appeal
shall lie before the Commissioner
(Appeals).
yy What will happen to the proceedings
initiated simultaneously against
Co-Appellants – Whether there
would be closure of proceedings
against co-Noticees as well once
the proceedings against the main
Noticee have been closed;
yy Reduced penalty of 25% not likely
to attract assesses when similar
provisions are already available
under Indirect Tax Laws: Benefit
of reduced penalty of 15%/
25% is already available under the
Indirect Tax provisions in fraud
cases at the level of SCN/ OIO
respectively, if duty/ tax liability
is paid along with interest and
specified reduced penalty within
30 days of the receipt of SCN/
OIO.
yy No
penalty
waiver/interest
relaxation: Under the similar
Scheme provided in the Income
Tax Act, there is a proposal to
waive penalty in all cases where
disputed tax amount is below
Rs. 10 lakhs and interest shall be
payable on disputed tax till the date
of assessment or re-assessment
as the case may be. But, no such
benefits are available under the
IDT DRS Scheme, 2016.
yy The present Scheme is less
beneficial as compared to previous
‘Service Tax Amnesty Scheme’,
where there was complete waiver
of Interest and penalty also.
yy Cum-duty/tax benefit not available
yy Further there are bouquet of
issues which lack clarification with
regards to the IDT DRS Scheme,
2016, such as:
yy Whether adjustment possible
for the amount paid during the
course of investigation or as
mandatory pre-deposit @ 7.5% at
Commissioner (Appeals) level, in
terms of Section 35F of the Central
Excise Act, 1944 – Applicable to
yy Whether 25% of the penalty
imposed in the Impugned Order
would mean sum total of the
penalties;
yy IDT DRS Scheme, 2016 excludes
from its purview the cases where
the Impugned Order is in respect
of search and seizure proceeding.
But does that mean a complete bar
for those cases also where search
and seizure might be a part of the
total case along with other matter
of disputed tax liability etc.
In the nutshell:
Undoubtedly, amidst high expectations,
our Hon’ble Finance Minister has been
able to do a tough balancing job in the
Union Budget, 2016. However, the
Union Budget, 2016 has not provided
any roadmap to introduce Goods and
Services Tax (“GST”) in the Country,
when India Trade Inc is pinning hopes
on the on-going Budget Session for
the passage of 122nd Constitutional
Amendment Bill.
Though, the Union Budget 2016
has endeavoured to give impetus
to the “Make in India” and “Startup India” campaign of the Modi
Government along with promoting
“Ease of doing business in India”,
but certain amendments as proposed
in the Union Budget, 2016 is likely
to act as a major setback and lacking
clarification on certain issues, will
work as a catalyst in increasing fresh
areas of litigation. Thus, immediate
attention of the CBEC is very much
required to yield positive results.
Special Feature
Was it the Common Man’s Budget???
I
Monika Shingari, Deputy Secretary, PHD Chamber
t was that time of the year again
when all eyes were on the Finance
Minister and every person – be it
the high profile business tycoon, the
professional, the salaried employee
or the average worker was expecting
a bounty of goodies to be rolled by
the Finance Minister for the year to
come.
Time and again we have been told by
the Policy makers that the Government
is committed to the REFORM Agenda
and it is in true sense FOR THE
PEOPLE AND BY THE PEOPLE.
While the general perception doing
rounds in the discussions often heard
either at our social circles or informal
discussions with friends, colleagues
or with family across the dining table
has been that the Government though
committed to the welfare agenda but
nonetheless the WELFARE is meant
either for the Corporate sector or the
poor lying below the poverty line. In
between the middle class or the average
salaried class is either completely left
out or ignored. And this is the group
where the people like you and me
belong to.
There is no suspense that the middle
class or more precisely the salaried
class is always at the mercy of the
Government’s customised policies –
trying to extract as much from their
hard earned salary. There is hardly
any cheer which the so called Union
Budgets have in the past bought to the
face of the taxpayers.
One such rude shock that came in
the Budget was to tax the withdrawals
from PPF – a tax saving instrument for
many. As soon as the Finance Minister
announced this proposal, the salaried
class was miffed with the basic intent
of the government as to why only the
tax payer has to bear the maximum
brunt of the govternment’s agenda
to fund the development within the
country.
Not surprisingly, this proposal met
with strong reactions and was much
criticised by all sections of society,
compelling the government at last to
roll back the proposal, giving some
relief to the taxpayers.
As reported in media, only 3% of
the total population in India pays
Income Tax, and it is this segment of
population contributing towards the
welfare projects and infrastructure
spending in the country. Even
after 69 years of Independence, no
substantial steps have been taken to
increase the tax base, which can act
as a solid foundation for enhancing
the government revenues through
taxation.
Each year Budget consultations are
held with all segments of industrialists,
economists,
governmental
departments - taking their inputs in
finalising the Budget; with the least
concern for the salaried class, who
though form a good size of population
but never heard off. They are always at
the receiving end of Govt. policies –
hit by no tax breaks, no concessions,
no enhanced deductions, no respite
from rising inflation, high cost of
living and deteriorating quality of life.
This Union Budget has made an
additional levy in the form of Krishi
Kalyan Cess of 0.5% on “all taxable
services” from June 2016 which will
make mobile phone calls, eating out at
restaurants, air tickets, cable and DTH
services, among others, more costly.
Gold and diamond jewellery and even
branded apparel are set to become
dearer, with the government deciding
to hike excise duties. Power tariff may
also go up as the government has
increased the ‘Clean Environmental
Cess’ on coal, lignite and peat from Rs.
200 per tonne to Rs. 400 per tonne.
If that was not sufficient, the
Government has recently announced
sharp cuts in interest earned on a range
of state-run savings schemes including
the popular Public Provident Fund, the
Kisan Vikas Patra and senior-citizen
deposits. The rate of interest on the
PPF scheme has been cut to 8.1%
from 8.7% currently. Investments
in the Kisan Vikas Patra will earn a
return of 7.8% from 8.7% at present,
while senior-citizens savings scheme
deposits of five years would earn 8.6%
interest compared with 9.3% currently.
PPF is one of the safest mode of
investment for the common man, and
with this reduction in payouts, it will
affect the domestic savings. Though,
if seen from a layman’s perspective this
may seem to be highly disappointing,
however, at the same time the move
is expected to bring down home and
other loan rates, which will be good
for the economy and the Government,
who will save on the big borrowings
and may use this money for additional
spending on infrastructure and other
social sectors.
Like every year the common man
expects a lot from the government
but hardly gets one or two proposals
which could be of some benefit.. He
is not bothered by how much has
been allocated for the different sectors
of the economy to achieve a robust
growth and to reduce the government’s
fiscal and current account deficit,
but by what steps have been taken to
make the life of common man easy.
He is concerned about the mounting
electricity and water bills and high cost
of living.
We do hope that the upcoming
Budgets will try to address some micro
issues for an average household to
make his life easier.
67
Special Feature
Mixed Blessings apropos the Indirect
Taxes in the Union Budget, 2016-17
I
N K Gupta, Executive Director-IDT, S. S. Kothari Mehta & Co.
ndirect Taxes are the leading
source of revenue for the
Government of India. In the
Union budget, 2016-17, changes have
been made in Customs and Excise
duty rates on certain inputs to reduce
costs and improve competitiveness
of domestic industry in sectors like
IT, hardware, capital goods, defence
production, textiles, mineral fuels
& oils, chemicals & petrochemicals,
paper, paperboard & newsprint,
Maintenance, Repair and Overhauling
of aircrafts and ship repair.
Various
announcements
have
been made through the budget to
incentivizing domestic value addition.
To streamline the taxation system,
Service Tax exemption list has been
pruned and new exemptions have
been introduced.
KrishiKalyanCess, @ 0.5% on all
taxable services, would be effective
from, 1 June 2016. Proceeds would
be exclusively used for financing
initiatives for improvement of
agriculture and welfare of farmers.
Input tax credit of this Cess will be
available for payment of this Cess
only. Infrastructure Cess of 1%
would be applied on small petrol,
LPG, CNG cars, 2.5% on diesel cars
of certain capacity and 4% on other
higher engine capacity vehicles and
SUVs. .
In the last union budget,Education
Cess and the Secondary Higher
EducationCess get subsumed in the
Service Tax and Central Excise and
now in the current budget new cesses
have introduced in the Service Tax
and Central Excise with the name of
KrishiKalyanCess and Infrastructure
Cess respectively. The concept of
“ease of doing business” would
68
while sinking the excise duty to
zero from 12% is a great move to
promote ‘Make in India’.
become only watchword with these
new levies.
The above mentioned Cesses have
been imposed with specific purposes.
“The government needs revenue.
Once the Goods and Services Tax
comes to play, hopefully by April 2017,
all these taxes will be subsumed”, said
by the one of the member of the
Central Board of Excise and Customs.
Now this Statement is going to be
controversial as against the object
demonstrated while introducing this
new levy i.e. to bring in line with the
proposed GST Rate.
While analyzing the budget from the
prospect of industry, there are some
opportunities and obstacles with
regard to the Indirect Taxes.
Positive Amendments
1. The concessional 5% duty
extended to the ‘cold chain
including pre-cooling unit, pack
houses, sorting and grading lines
and ripening chambers’ will lead
to the reduction in the prices of
the goods processed under these
units.
2. Basic Custom Duty on refrigerated
containers being reduced from
10% to 5%and in addition to that
Excise duty has also been reduced
to 6% on refrigerated containers
to assist agriculture sector.
3. Custom Duty reduced on certain
types of electronic goods and
hardware, textile fabrics, wood
in the chips or particles and
chemicals and petrochemicals
used as input.
4. Increase in the Customs Duty
to 10% on solar water heaters
5. Assistive devices, rehabilitation
aids and other goods for
differently disabled persons will
attract nil basic customs duty.
6. Manufacturers who have multiple
manufacturing units can now
maintain a common warehouse
for inputs and distribute that
input to the other units.
7. Extending of excise duty
exemption, presently available
to concrete mix manufactured at
site for use in construction work
to ready mix concrete will give
support to the real estate sector.
8. Excise duty on electric motor,
shafts, sleeve, chamber, impeller,
and washer required for the
manufacture of centrifugal pump
being reduced from 12.5% to 6%.
9. Excise duty on physical mixture of
fertilizers, made out of chemical
fertilizers on which duty of excise
has been paid, by Co-operative
Societies has reduced to NIL.
10. Excise duty concessions from
12.5% to 4% without CENVAT
credit, given to selected IT
hardware.
11. Service Tax would not be levied
on construction of affordable
houses up to 60 square meters
under any scheme of the govt.
12. Services provided by National
Centre
for
Cold
Chain
Development under Department
of Agriculture, Cooperation and
Farmer’s welfare, Government
of India, by way of knowledge
Special Feature
dissemination is exempted from
service tax,
13. Services provided by Skill
development bodies empanelled
by Ministry of Skill Development
&
Entrepreneurship
and
under Deen Dayal Upadhyay
GrameenKaushalyaYojanahave
been exempted from the payment
of Service Tax.
14. Service tax will not be levied
on general insurance services
provided under ‘Niramaya’ Health
Insurance Scheme launched by
National Trust.
15. Service Tax on Single Premium
Annuity (Insurance) Policies
reduced from 3.5% to 1.4% of
the premium paid in certain cases.
16. Assignment of right to use the
radio frequency spectrum and
its subsequent transfers will be
construed as a service which may
reduce double taxation.
17. Shifting of used household goods
by a Goods Transport Agency
will be taxable @ 4.2% from the
current 5.6%.
18. Broaden scope of input services
to enable free flow of ITC. Full
credit would be available on the
services exclusively used in the
taxable activities.
19. The monetary limit for launching
prosecution is being increased
to Rs. 2 crore, and the power to
arrest is being restricted only to
the situation where the tax payer
has collected the tax but not
deposited.
20. The time limit for filling the
Service Tax refund claim amended
to one year from the date of
receipt of payment where services
have been completed prior to the
receipt of such payment.
21. Benefit of quarterly payment of
taxes, payment of taxes on receipt
basis extended to one person
company (OPC) whose aggregate
value of services is uptoRs. 50
lakh in the previous financial year
to encourage the tax compliance.
22. Interest rates on delayed payment
of duty/tax across all indirect
taxes being rationalized at 15%,
except in case of service tax
collected but not deposited to the
exchequer, in which case the rate
of interest will be 24%.
Negative Amendment
yy Excise duty on readymade
garments with retail price of Rs.
1,000 or more will be levied @ 2%
without input tax credit or 12.5%
with input tax credit.
yy Excise duty @ 1% without input
tax credit or 12.5% with input
tax credit on articles of jewellery
[excluding silver jewellery, other
than studded with diamonds and
some other precious stones], with
a higher exemption and eligibility
limits of ` 6 crores and ` 12 crores
respectively would excessively
increase the compliance burden.
yy Union budget proposed to increase
Excise Duty on jet fuel to 14%
from 8%.
yy Soft drinks and mineral water
will be dearer as Jaitley proposed
to hike excise duty on “water
including mineral water, aerated
water containing added sugar or
sweetening matter” to 21 per cent
from 18 per cent earlier.
yy Exemption
to
construction,
erection,
commissioning
or
installation of original works
pertaining to monorail or metro,
in respect of contracts entered
into on or after 1st March 2016
is withdrawn, with effect from
01.03.2016 and now it will be
taxable @ 5.6%.
yy Exemption to the services of
transport of passengers, by
ropeway, cable car or aerial
tramway is withdrawn, with effect
from 01.04.2016.
yy Negative List entry that covers
‘service of transportation of
passengers, with or without
accompanied belongings, by a stage
carriage’ is being omitted.
yy Service Tax will be levied on service
of transportation of passengers
by air conditioned stage carriage,
at the abatement of 60% without
input tax credit.
yy Section 73 (period of limitation for
recovery of service tax) proposed
to be amended to increase time
limit from 18 months to thirty
months which would enhance
unnecessary litigations.
In the last Union budget, the
Government had announced that
the Bill to amend the Constitution
of India for Goods and Services
Tax (GST) would be introduced.
Major takeaway is that GST has not
even touched upon. It is a very big
collapse for the Indian industry which
is waiting for the long time for its
advent. GST is expected to reduce
the cascading effect on the cost of
goods and services. No major step
has been taken to align the current
system of Indirect Taxes with the
new regime. The general rate of
Excise Duty has not ben changed. It
needs to be reduced to come at par to
balance the existing central levies with
the standard rate of tax on goods and
services in the post GST regime. It
would be a difficult task to implement
the GST if there remains a gap in the
current system with the proposed one.
With these amendments, we hope that
there would be a stable and predictable
Indirect Taxation regime in the near
future.It is said that “Champions are
made from something they have deep
inside of them - a desire, a dream, a
vision”. We are continuing on the
path of prosperous India and a vision
to ‘Transform India’.
69
Expressions
Coaching a value-driven approach to sustainable
family-owned businesses
Pawan Malhotra, Business Peformance Coach
I
n India, nearly eighty five per
cent of businesses are familyowned and they range from
large multinational conglomerates
to small and medium enterprises
(SMEs) and all the way down to
the neighbourhood ‘mom and pop’
stores. Large business groups such
as the Tatas, Dabur, Birlas, Godrej,
Shapoorji Pallonji and the Mahindras
have continued to grow exponentially
on the strength of adhering to core
family values.
A key challenge for any family-owned
business is to manage the synergy of
divergent goals and aspirations of
the different members of the family.
This situation becomes even more
complex when the business begins to
witness the inclusion of the successive
generations of family members.
Organizational behaviour experts cite
lack of effective communication, little
or no succession planning, suspicion
and mutual distrust between the
family members and with the nonfamily professional management
talent as some of the reasons for such
businesses to sometimes split over
time. To avoid such pitfalls, familyowned businesses are today actively
seeking coaching as an intervention.
An efficacious coaching approach
employs the principles of trust,
empathy, confidentiality, humility
and respect to weave harmonious
relationships between the different
generations of family members. A
skilled coach can act as an objective
thinking partner for the organization
to help nurture its future talent in
alignment with the family values
and guide the business to grow in
accordance with its long-term vision.
70
At the level of the first generation,
it is the founder of the business
who brings in these personal and
family values into the business.
These venerated family values are
then put through the litmus test
when the successive generations
come into the business fold and
are expected to become enmeshed
within the organizational culture
to maintain the family business’s
longevity and resilience. This is where
the families face the challenges of
succession planning, providing equal
opportunities, meeting aspirations,
building talent, managing peer
(family members) relationships, team
work and nurturing the new talent
by providing supervised hands-on
experience.
Another significant aspect of
coaching
for
family-owned
businesses is to intervene to bridge
the communication breakdown
by bringing the concerned family
members across the table to engage
in an open dialogue. As Professor
Randel S. Carlock states it succinctly,
“Familybusinesses fail not because
of the business, but because of the
family”.
Coaching also empowers the young
members of the family to transition
into the family-owned business
seamlessly. In one of my coaching
assignments, I helped a young
member, of a well-known business
family in India, to assess her present
and future priorities with respect to the
timing of joining the family business
and take strategic decisions regarding
her future growth, development of
leadership potential and tapping
relevant training and professional
development opportunities with a
long-term perspective keeping the
focus on the family’s values at the
same time.
Over the years, I have collaborated
with members of diverse familyrun businesses to facilitate with the
following critical aspects during the
coaching process:yy Provide visionary leadership
yy Enable
building
positive
interpersonal relationships
yy Encourage open, honest and
transparent communication
yy Develop professional negotiating
skills and team work
yy Assist in managing change in the
current/future business scenario
yy Ensure
effective
succession
planning and transition to the next
generation
yy Aid individual career development
yy Help identify personal goals and
aligning them to the organizational
goals
yy Implement an action plan for the
achievement of these goals
It is imperative to recognize that family
business coaching provides expertise
that aids addressing challenges that
arise at the cross section of family
and business. This approach supports
in building the future leadership
by assisting them to identify their
individual unique strengths and
skills with a firm emphasis on family
values while delivering the desired
business growth. It helps in nurturing
overall positive communication
and maintains the focus on the ‘big
picture’ which is vital for business
continuity.
Economy-Watch
Policy Pronouncements and Developments
GOI allows 100% FDI in online retailing
The Department of Industrial Policy and
Promotion has allowed 100 percent FDI
in online retailing of goods and services
under the so-called ‘market place model’
through the automatic route in order
to attract FDI. Marketplace model of
e-commerce means providing of an
IT platform by an e-commerce entity
on a digital and electronic network to
act as a facilitator between buyer and
seller. The guidelines which provide
clarity to foreign entrants to adopt
the marketplace route in India come
with a rider that they cannot “directly
or indirectly influence the sale price
of goods or services. A marketplace
entity will be permitted to enter into
transactions with sellers registered on its
platform on business-to-business basis.
The rules also restrict sales by a single
vendor to 25% of the total sales made
by the marketplace from one vendor
or their group companies. E-retailers
feel that this model is restrictive for
e-retailers as they may not be able to
offer discounts anymore or advertise
since they are merely a technology
platform. India’s online retail industry
has been dominated by local giants
Flipkart, Amazon and Snapdeal with
the three controlling more than 90% of
the market. The new rules could impact
these retailers and they may be forced
to restructure their strategies, not offer
discounts and may not be allowed to sell
below the selling price.
While e-commerce marketplaces are
allowed to provide support services
to sellers “in respect of warehousing,
logistics...and other services”, but
it is not clear whether these include
advertising services and campaigns.
E-retailers generally take on the
advertising costs. Online marketplaces
are neither e-commerce companies nor
retail companies, but technology and
services platforms. The government
also appears to have taken a firm stance
against online discounting to protect
small vendors. The All India Online
Vendors Association, a group of sellers
that sell primarily on e-commerce
marketplaces, state that the new 25%
rule will allow online retail companies to
widen their seller base.
The government has also clarified
that single-brand retailers can sell via
the e-commerce route but foreign
ownership is not being allowed in an
inventory-based model. The inventorybased model of e-commerce means an
e-commerce activity where inventory
of goods and services is owned by
e-commerce entity and is sold to
consumers directly.
Lower House passes Aadhaar
Bill, 2016
The Lower House of Parliament passed
the Aadhaar (Targeted Delivery of
Financial and Other Subsidies, Benefits
and Services) Bill, 2016 with a voice
vote as a money bill. The Bill aims to
ensure targeted services to intended
beneficiaries by assigning them unique
identity numbers. These numbers
will be given to each person who has
stayed in India for 182 days in the year
preceding the date of application. The
purpose of the bill is not for collateral
purposes but to ensure that benefit of
public revenue reaches the targeted
beneficiary. The bill seeks to make the
use of the Aadhaar number mandatory
for availing government subsidies,
and addresses concerns regarding
privacy and protection of personal
information. Making Aadhaar number
mandatory will help plug leakages and
bring down the subsidy bill, budgeted
at Rs.2.5 trillion in FY 2016-17. The
bill will now go to the Rajya Sabha for
deliberations.
India’s Exports on the decline
India’s merchandise exports contracted
for the 15th month in a row in February
2016 amid tepid global demand and a
volatile global currency market. Duriing
April-February FY 2016, India’s exports
declined by 16.7% to US$ 238.4 billion
and imports shrank 14.7% to US$ 351.8
billion, leaving a trade deficit of UD$
113.4 billion. Weak demand in overseas
markets has hurt India’s exports. The
Ministry of Commerce projects exports
to decline by 13% from the previous
year to US$ 270 billion in 2015-16, with
a trade deficit of US$ 120-125 billion.
Parliament passes National
Waterways Bill
The National Waterways Bill, which
provides for declaring certain inland
waterways as national waterways was
passed by Lok Sabha in December
2015. The bill repeals the five acts on the
existing national waterways, which will
not be covered under this bill. Under it,
106 additional inland waterways will be
added to the list of national waterways,
taking the number to 111. According to
the bill’s statement of objectives, “While
inland waterways are recognised as a fuel
efficient, cost effective and environment
friendly mode of transport, it has received
lesser investment as compared to roads
and railways. Since inland waterways are
lagging behind other modes of transport,
the central government has evolved
a policy for integrated development
of inland waterways.” The central
government can make laws on shipping
and navigation on inland waterways
which are classified as national waterways
by Parliament.
The Insolvency and
Bankruptcy Code, 2015
The Insolvency and Bankruptcy
Code, 2015 was introduced by
Finance Minister, Mr Arun Jaitley in
Lok Sabha on December 21, 2015.
The Code seeks to create a unified
framework for resolving insolvency
and bankruptcy in India. Insolvency
is a situation where individuals or
organizations are unable to meet
their financial obligations. The
Code seeks to repeal the Presidency
Towns Insolvency Act, 1909 and
Provincial Insolvency Act, 1920. In
71
Economy-Watch
addition, it seeks to amend 11 laws,
including the Companies Act, 2013,
Recovery of Debts Due to Banks
and Financial Institutions Act, 1993
and Sick Industrial Companies
(Special Provisions) Repeal Act, 2003,
among others. The Code will apply
to companies, partnerships, limited
liability partnerships, individuals
and any other body specified by
the central government. The Code
creates an Insolvency and Bankruptcy
Fund Deposits to the Fund will
include: grants made by the central
government, amount deposited
by persons and interest earned on
investments made from the Fund.
GOI slashes interest rates on
small savings
Effective April 1, 2016, the
government has reduced the interest
rates on small savings of post offices.
The rates of interest under PPF,
Kisan Vikas Patra and senior citizen
deposits have been cut by up to 1.3%
as as the government moves to
quarterly aligning of rates with the
market.
Revised Bye-laws improve ease
of doing business, promote
investments
Minister of Urban Development
M.Venkaiah
Naidu
recently
introduced
Unified Building
Bye-laws for Delhi, revised after
33 years. The new bye-laws have
been made user friendly through
unification and simplification of a
host of amendments made over the
last three decades and integration of
approvals by different agencies into a
single platform. Henceforth, building
proponents i.e applicants can make
one single online application to the
concerned urban local body instead
of approaching various agencies
there by reducing human interface
and enabling approvals in just 30 days.
72
A single window mechanism will
come into effect so as to improve the
ease of doing construction business
besides promoting investments.
RBI eases ECB norms for
infrastructure sector
The Reserve Bank of India has
allowed infrastructure companies
and non-banking finance companies
that lend to the sector to raise external
commercial borrowings (ECBs) with
a minimum maturity of five years.
Until now, infrastructure companies
could raise only long-term external
borrowings of more than 10 years.
The relaxed provisions, however,
come with a caveat that such
borrowings must be fully hedged,
which may make it expensive for
companies to raise funds overseas.
The individual borrowing limit of
US$ 750 million prescribed for
infrastructure companies would
continue to apply. This move will
make it easier for infrastructure
companies to raise funds as well as
refinance costlier debt, as loans with
shorter maturity are cheaper than
long-term borrowings.
New players to start operations in
India
Media reports that Insurance
Regulatory
and
Development
Authority of India has received
applications from ten new players
to start operations in the country.
The regulator is currently processing
applications of these players
consisting of insurers and re-insurers.
Four primary players - two non-life
insurers, one life insurer, one health
player, one re-insurer - and five
global re-insurers have now applied
for licences to set up operations in
the country. Aditya Birla Group
is setting up a health insurance
company in partnership with South
African firm MMI Holdings. The
global re-insurers who have applied
for licences include Munich Re,
Swiss Re, Hannover Re, SCOR,
Excel ILSE. India’s insurance sector
has already received Rs 10,000 crore
after the FDI limit was raised from
26 per cent to 49 per cent in 2015.
New Weapons Procurement Policy
India announced a new weapons
procurement policy on March 28,
2016 at Defexpo India 2016 in Goa.
The weapons procurement policy,
Defence Procurement Procedure
(DPP) 2016 is a shift from the past
and is geared toward the theme of
partnership with Indian defense
companies and not mere purchase
of weapons, according to defense
analysts. This new policy would give
boost to the ‘Make In India’ initiative.
The new DPP will give top priority
to a new category of procurement
known as Indigenous Design,
Development and Manufacturing
(IDDM). Products bought under this
category would require 40 percent
indigenous content if the design
of the product is also indigenous;
otherwise it will require 60 percent
indigenous content. Under the new
policy, top priority to acquiring
weapons will be given to Buy
(Indian — IDDM) followed by Buy
(Indian), Buy and Make (Indian),
and Buy and Make (Global); the
last priority will be given to Buy
(Global) category. In another change,
foreign companies will now have to
transfer technology for providing
maintenance infrastructure, even
under the category Buy (Global).
The new DPP has increased the
bar for fulfilling mandatory defense
offsets by overseas companies. Now,
mandatory offsets will be discharged
by overseas defense companies
only when the contract is over $296
million compared to the existing level
of $45 million — a relief to overseas
defense companies.
Economy-Watch
Real Estate (Regulation and Development) Bill
(Contributed by Dr. Ranjeet Mehta, Director, PHD Chamber)
A bill seeking to regulate the real
estate sector, bring in transparency
and help protect consumer interests
was passed by the Rajya Sabha on
March 10, 2016. The real estate
sector comprises of - housing,
retail, hospitality, and commercial.
The growth of this sector is well
complemented by the growth
of the corporate environment
and the demand for office space
as well as for urban and semiurban accommodations. The latest
estimates suggest 30% of India’s
population live in urban areas, which
occupy only about 2.5% of India’s
land mass. In India, real estate is
the second largest employer after
agriculture and is slated to grow at
30% over the next decade. Overall
urban housing demand in India is
expected to grow by nearly 15 million
units by the end of 2019. This calls
for much needed transparency in the
sector.
Key features of the Real Estate
Bill are as follows:yy The bill regulates both commercial
and residential real estate projects
and covers any project that is
more than 500 sq meters or has
more than eight apartments.
yy A Real Estate Regulatory
Authority in states and union
territories has be set up to oversee
real estate transactions.
yy The bill makes registration of
real estate projects and real
estate agents with the authority
mandatory.
yy It makes mandatory disclosure
of details of all registered
projects, including those about
the promoter, project, layout plan,
land status, approvals, agreements
along with details of real estate
agents, contractors, architects,
structural engineers, etc.
yy No pre-launch will be allowed
without getting all approvals from
the local authorities and without
obtaining registration from the
regulator. All incomplete projects
are to come under the regulation.
yy The authority can even order
“compensation” to consumers in
case of misleading advertisements.
yy Developers will have to provide
brief details of projects launched
in the past five years, both
completed or under-construction,
and the current status of the
projects. These may be made
available on the regulator’s
website so buyers can take an
informed decision.
yy Disclosure of carpet area is a
must as per the bill.
yy Under the bill, builders have
to deposit 70% of the amount
raised from buyers into an escrow
account in a scheduled bank
within a period of 15 days to
cover the construction cost of the
project for timely completion of
the project.
yy It seeks to establish fast track
dispute resolution mechanisms
for settlement of disputes
through adjudicating officers and
Appellate Tribunal.
yy Promoters are barred from
changing plans and designs
without consent of 2/3 buyers
of the project.
yy If the promoter does not register
his property, he will have to pay
up to 10% of the project cost
as penalty or face imprisonment
for up to three years, and/or an
additional fine of 10% of the
estimated cost of the project. In
case the builder violates any other
provision of the Act, he will have
to pay up to 5 percent of the
estimate cost of the project. The
fine for the agents is Rs 10,000
per day during the period of
violation of provisions. It also
includes one year jail term for real
estate agents and buyers if they
violate the orders of the appellate
tribunals.
yy The permission to approach
consumer courts is a major relief
for the buyers as there are 644
consumer courts in the country,
offering avenues for grievance
redressal.
yy The bill proposes to charge equal
rate of interest for promoters
and buyers in case of default or
delays. The provision was earlier
tilted in favour of the builders.
yy The bill makes it mandatory to set
up an allottees association within
three months of the allotment of
major units/properties so that the
residents can manage common
facilities like a library and a
common hall. In case of structural
deficiency in the property then the
buyer can contact the developer
for after-sales service within one
year of possession.
Some industry experts believe that
if the bill is implemented in its
current form without reforms in
government administration, it will
push up prices of houses further.
In the absence of administrative
reforms, the government should
provide infrastructure status to the
real estate sector, which may help
the sector contain prices. Most
experts believe that the bill will
bring in much-needed transparency
in the sector. It will go in favor of
consumers as well as developers who
do clean business.
73
74
Headway
Skill Development Initiatives
Workshop on Lean Manufacturing Competitiveness for Industry
ESteEs
Mr. Arun Kumar, DIC Hoshiarpur; Mr. R.S. Solanki, Director, RS Otifas (P) Ltd; Mr. G. Saravanan, Regional Director, National Productivity Council, Chandigarh; Mr. Devinder Singh, Asst. Director, NPC Chandigarh and
Ms. Rimneet Kaur, Resident Manager, PHD Chamber
P
HD Chamber and KonradAdenaur-Foundation (KAS)
of Germany in association
with the National Productivity
Council and District Industries
Centre, Hoshiarpur organized a
workshop on ‘Lean Manufacturing
Competitiveness for Industry’ on
February 25, 2016 at Hoshiarpur.
Ms. Rimneet Kaur, Resident Manager,
PHD Chamber while welcoming
the participants mentioned that
MSMEs must achieve manufacturing
excellence for their respective business
survival. LMCS scheme is the right
choice in boosting manufacturing
competitiveness of the MSMEs, which
contributes 40 percent of domestic
manufacturing, besides a substantial
contribution to exports.
Mr. Arun Kumar from the office
of DIC Hoshiarpur mentioned that
strengthening competitiveness of
the MSMEs and enhancing their
manufacturing excellence is the key to
economic prosperity of the economy.
He urged industry members to enrol in
the scheme.
Mr. G Saravanan, Regional Director,
National
Productivity
Council,
Chandigarh gave detailed guidelines
on the LMCS scheme (MSE-Cluster
Development Program of the Ministry
of MSMEs) which covered how to
make a cluster of 6 to 10 units for lean
manufacturing activity implementation
from the same product group. He
indicated LMCS offers a subsidy of
up to 80 percent of the consultant fees
for each mini cluster. The remaining
20 percent can be shared by the
participating units of the cluster. He
urged industry members to join various
clusters and benefit from the scheme.
Mr. R.S. Solanki, Director, RS Otifas
(P) Ltd, while explaining the concerns
of the industry consisting of delayed
deliveries, threat from competition,
rising customer complaints, pressure
on margins and longer cast to cash
cycles, said that rapid improvements
can be made in the industrial units
through implementation of lean tools
and techniques like 5S, Kaizen, TPM,
SMED (Single-Minute Exchange of
Die), Mistake-proofing techniques
and Kanban. He apprised participants
that eliminating the seven types of
waste: overproduction, inventory,
unnecessary motion, transportation,
rework, over processing, waiting
time can improve business processes
drastically. He shared case studies
and explained in detail about the
lean techniques adopted by various
industrial units which improved their
overall profits tremendously.
The program ended with a vote of
thanks by Ms. Rimneet Kaur, Resident
Manager, PHD Chamber. She urged
industry members to enrol in the Lean
Manufacturing scheme of the Ministry
to avail the benefits of the scheme
resulting in overall productivity of their
industrial units. Industry members
from plywood, autoparts/ tractor
parts, plastic and rubber industrial
units in Hoshiarpur were present on
the occasion.
ESteEs
Participants at the Workshop
75
Headway
Workshop on ‘Innovation, Creativity & Team Building’
to improve productivity and efficiency
often stifles creativity. When
organizations focus on productivity,
they impose rigid procedures that
make it difficult for team members
to be creative, so it is important that
managers support creative thinking.
ESteEs
Participants with Mr CM Krishna, Honorary Advisor, PHD Chamber;Dr (Cdr) Satish Seth, Director General and
Dr Preeti Singh, Professor & HoD, JIMS, Kalkaji, New Delhi
P
HD Chamber and KonradAdenauer-Stiftung
of
Germany,
under
its
Cooperation Project, organized a
one-day workshop on ‘Innovation,
Creativity & Team Building’ on
January 20, 2016 at PHD House, New
Delhi.
The aim of the workshop was to
provide corporate creativity and
innovation essential for the growth
and survival of any team, company
or organization. Many organizations
are launching all kinds of ‘innovation
initiatives’ to differentiate themselves
from the competition.
Creativity is essential for driving
innovation and a commercially
competitive spirit. Yet, as organizations
grow, the structures they put in place
Debunking myths of Innovation
and Creativity, Enhancement of
Innovation and Creativity, Building
Effective Team Communication,
Change of attitude from group to
team and how to manage team to
meet deadlines were the topics mainly
covered in the workshop.
Dr (Cdr) Satish Seth, Director
General, JIMS, Kalkaji, New Delhi;
Mr C. M. Krishna, Honorary Advisor,
PHD Chamber and Dr Preeti Singh,
Professor & HoD, JIMS were the
faculty at the workshop.
Workshop on Social Entrepreneurship
P
HD Chamber and KonradAdenauer-Stiftung,
(KAS)
organized a workshop on
‘Social Entrepreneurship’ on January,
29, 2016 at PHD House, Jaipur.
Mr. M.L. Gupta, Co-chairman,
Rajasthan Committee welcomed all
speakers and guests and said that
the goal behind the workshop was
to promote the concept of Social
Entrepreneurship in the state of
Rajasthan.
Prof. N. N. Sharma, Associate
Professor & Chairperson of India
Centre for Public Policy, Birla
Institute of Management Technology
explained that Social Entrepreneurs
use business models to solve social
problems. The concept is still in its
infancy and has a lot of growing up to
do before it will have a major impact.
There are many live examples of
social entrepreneurs who have done
exceedingly well in their fields.
76
ESteEs
Participants with Mr. M. L. Gupta, Co-chairman, Rajasthan Committee, PHD Chamber; Dr. Jatinder Singh, Senior Secretary, PHD Chamber
and Faculty members Mr. Ramesh Gandhi and Prof. N. N. Sharma
Mr. Ramesh Gandhi, Chairman,
Gandhi Foundation said that social
entrepreneurs play a great role in
bringing change in the society. They
continuously innovate and learn and
pursue newer opportunities in order
to serve the mission of community
development.
Dr. Jatinder Singh, Secretary, PHD
Chamber said that a new genre of
entrepreneurs have cropped up who
through their innovative ideas provide
solutions to society’s most pressing
issues. These Social Entrepreneurs are
ambitious, committed and persistent
in their ways in order to change lives
for the betterment of society.
Ms. Sakshi Dang, Assistant Professor,
NIMS University said that Rajasthan
State needs more social awareness.
She asserted that Social entrepreneurs
play the role of change agents in the
society.
Mr. Rituraj Tiwari, Resident Director,
PHD Chamber delivered the vote-ofthanks to the faculty and the delegates.
.
Headway
Interactive Session with Students of Kashmir University
Dr. Ranjeet Mehta, Director, PHD
Chamber discussed about different
policy interventions of PHD
Chamber in the energy sector.
ESteEs
Participants with Dr. Jatinder Singh, Senior Secretary and Dr. Ranjeet Mehta, Director, PHD Chamber
P
HD Chamber under its PHDKAS Cooperation Project
organized
an
interactive
session with the students of Kashmir
University on February 11, 2016 at
PHD House, New Delhi.
Dr. Jatinder Singh, Sr. Secretary, PHD
Chamber briefed the students about
the catalytic role of PHD Chamber
in policy advocacy, promotion of
industry, trade and entrepreneurship.
Students were informed about the
overall economic scenario of the
country and where J&K fits in.
Students actively took part in the
discussions and asked many technical
questions concerning partnerships of
corporate sector and NGOs in CSR,
innovations in the field of technology,
different government programs for
development, etc. The session was
very invigorating for the students as
many of them came out of J&K for
the first time.
International Conference on ‘Entrepreneurship in the 21st Century : Navigating Future Paths in Business, Social and Green Technologies’
P
with
KAS,
Germany,
Jagannath
International
Management
School
(JIMS),
Kalkaji, New Delhi and Business
World organized an international
conference on ‘Entrepreneurship in
the 21st Century: Navigating Future
Paths in Business, Social and Green
Technologies’ on February 13, 2016
at PHD House, New Delhi.
The conference provided a unique
opportunity for leading corporates,
academicians and research scholars
to share their perspectives and
experiences on key aspects of
Entrepreneurship. It also provided
a platform for them to discuss the
most recent innovations, trends, and
practical challenges encountered in
the field of Entrepreneurship.
Dr Mahesh Gupta, President, PHD
Chamber inaugurated the conference.
Other dignitaries who graced the
occasion were Guests of Honor,
Mr. Rajesh Agarwal, Co-founder and
Director, Micromax; Mr. Anurag
ESteEs
Dr Mahesh Gupta, President, PHD Chamber addressing the Conference. Also Seen are Dr (Cdr) Satish Seth, Director General, JIMS, Kalkaji,
New Delhi; Mr Rajesh Agarwal, Co-founder and Director, Micromax and Mr CM Krishna, Honorary Advisor, PHD Chamber
Batra, Chairman and Editor-in-Chief,
Business World; Mr. C.M. Krishna,
Honorary, Advisor, PHD Chamber
and Dr. Satish Seth, Director-General,
JIMS.
The conference hosted a large number
of international and national speakers.
Prominent amongst the international
speakers were Mr. Ignace Hindrick,
Senior Consultant, India Consult; Dr.
Jane Chang, Professor, Westminster
University, UK and Mr. Ron Mcluckie,
Chairman & CEO, WIAL. National
speakers included Mr. Vijay Rai,
President & CEO, Powercon; Mr.
Pankaj Dubey, Managing Director,
Polaris India; Mr.Kumud Rai, Director,
Vascular Surgery, Max Healthcare and
Chairman, ECHO; Mr. Ranjan Kant,
Chief Marketplace Officer, Jabong
(GFG. Group) and Mr. Surojit Bose,
Director, Sustainability and Climate
Change, PWC.
In the concluding session, a research
paper presentation competition was
held where renowned academicians
shared their research findings with the
delegates.
77
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Workshop on ‘Managerial Skills - Requirement of Coming Decades’
to understand how these will look like
a decade down the line and prepare
our managers accordingly.
ESteEs
Participants with Mr. CM Krishna, Honorary Advisor, PHD Chamber; Dr. (Cdr) Satish Seth, Director General and
Dr. Preeti Singh, Professor & HoD, JIMS, Kalkaji, New Delhi
P
‘Managerial Skills - Requirement of
Coming Decades’ on February 23,
2016 at Hotel Chanakya, Patna.
Business Organizations do not operate
in a vacuum or in a linear manner.
They work in a holistic environment
of all the processes of the society.
Therefore, we have to visualize
these processes like demographic,
economic, social, organizational, etc
The coming decades promise to be
even more exciting and much more
disruptive, than the past decades.
In such a rapidly evolving business
landscape, the ability to anticipate and
prepare for future skill requirements
for managers is increasingly critical
for businesses and individuals.
The topics mainly covered during the
workshop were Future Requirement
of Skills in Coming Decades and
Future Managerial Skills.
Prof Atul Sharma, Head, Trainer
Corp was the faculty at the workshop.
Workshop on ‘Digital Marketing: Cutting Edge Skills for SMEs’
P
‘Digital Marketing: Cutting Edge
Skills for SMEs’ on February 24,
India’s Internet population (people
with Internet access) is growing at an
exponential rate propelled by factors
like de-regulation in the telecom sector,
increased use of social networking
sites, adoption of e-commerce, and
daily deals portals trading goods and
services in economical ways, etc.
Consequently, to tap the growing
internet audience, marketers are now
increasingly exploring opportunities
to connect to them through digital
mediums like the Internet search
engines, e-mail, social media, mobiles,
etc. Thus digital marketing is no
different from traditional marketing,
though some people might think
that digital marketing (DM) only
involves the internet or it is just about
advertisements on Google. Digital
marketing does involve the internet,
but it refers to marketing through any
78
ESteEs
Participants with faculty members Prof .Jones Mathew and Ms. Monica Mor
electronic media – computer, mobile
phone, television, or a combination
of these.
into use effectively by SMEs; Using
web analytics by SMEs and Why
SMEs need to do Digital Marketing.
This workshop was designed to
understand the basics of traditional
marketing in the new internet
environment and intend to build skills
in marketing with digital media. The
main topics covered in the workshop
were Understanding digital marketing;
How to put social media marketing
The eminent faculty that conducted
the workshop were Ms. Monica Mor,
Senior .Faculty, Indian Institute of
Learning & Advanced Development,
Gurgaon and Prof. Jones Mathew,
Jaipuria Institute of Management,
Noida.
79
Towards Inclusive Growth
PHD FAMILY WELFARE FOUNDATION (PHDFWF)
PHD RURAL DEVELOPMENT FOUNDATION (PHDRDF)
Hon’ble Health Minister, Govt. of NCT Delhi at Cancer Camp
P
HDFWF in association with
BSES Rajdhani Power Ltd.
organized a free Cancer
Detection camp at Hirankudna village,
Mundka, Delhi on March 12, 2016. Mr.
Satyendra Kumar Jain, Hon’ble Health
Minister, Govt. of NCT Delhi visited
the camp with Mr. Sukhvir Singh
Dalal, local MLA and appreciated the
initiative taken by PHDFWF & BSES
for the welfare of the poor people.
PHDFWF-Seth Madanlall Palriwala Foundation Mobile Medical Van
D
uring this period, 17 free health
check-up camps were organized
in Uttar Pradesh, Haryana and
slums of Delhi. 1596 patients benefitted
from these free camps. Free diagnostic
care, clinical services and medicines were
provided to the patients.
PHDFWF-BSES cancer detection camps at Jaffarpur, Bhartal and
Khyalla of West Delhi
T
he PHDFWF organized three free cancer detection camps in association with BSES Rajdhani Power Ltd. at
Jaffarpur police station, BSES Bharthal & Khyalla complaint centres on March 3, 10 & 18, 2016 respectively.
Senior officials from BSES were present on the occasion. An Oncologist, Gynecologist & ENT specialist
examined the patients and spot investigations like blood test, BP check-up, ENT check up, X-Ray, Mammography etc.
were conducted.
80
Headway
PHDFWF-Rashtriya Mahila Kosh Project
Training in computer education on basic and advance courses, tailoring & embroidery and beauty culture & mehendi courses
are being provided at Integrated Women Resource Training Centre at Rohini. During this period, one SHG meeting and one
general awareness program were organized at the centre.
PHDFWF-Certificate distributuion program
at SMPF skill building centre
PHDFWF-Community Development Project at
Odisha
Self defence training program was organized at SMPF
Skill Development Training Centre at Vinodpuri. 50 girls
& women benefitted from the training. Certificates were
distributed to the trainees by the trainers from Delhi Police.
The Skill Development Training Centre has been shifted to
a new location -Village Balikunda. Presently, 30 trainees are
availing training on Tailoring under the project. Two awareness
generation programs were organized during this period.
PHDFWF-FENA Skill Development Project
PHDFWF-Tata Power Delhi Distribution Ltd.
Skill Building Centre
Training in computer education & beauty culture are being
provided at the Centre. The project is being implemented
jointly with NGO NANAK. Free mobile health check up
camps, awareness generation program, interaction with local
people were also organized during this period.
PHDFWF-Seth Madanlall Palriwala Foundation
Skill Development Project
Training in nursing assistance, tailoring & embroidery, beauty
culture & mehendi application is being provided at the Centre.
Presently, 286 students are availing training at the Centre. Self
defence training program is also being conducted for women
& girls under the project.
Presently, 117 girls and women are undergoing training in
tailoring & embroidery and beauty culture at the Centre.
Five trainees got employment in different beauty parlours
in south Delhi.
PHDFWF- Hindustan Tin Works Ltd Skill
Development Project, Vill. Mangwaki, Pataudi
Presently 76 trainees are undergoing training in tailoring,
computer education and beauty culture. One awareness
generation program on gender sensitisation were organized
during this period.
PHDFWF-SMPF Water Harvesting Initiative
During this period, one awareness program on environment
building for active participation was organized at villages Kalakota & Garnaun ki Dhani, Sikar District. of Rajasthan.
PHDFWF-DSACS Target Intervention Project
on HIV/AIDS
The annual evaluation to review the project activities was
conducted at the TI project office by DSACS & NACO
officials, Feb 23-25, 2015. During this period , 104 ICTC, 94
RPR, 17 group meetings, 4 review meetings, two advocacy
meetings, two DIC meetings and two Crisis Committee
Meetings were organized under the STI clinic project.
PHDFWF-English Speaking classes
PHDFWF is running English Learning Centers in
resettlement areas of Okhla Ph-I slums and Vinodpuri
in Delhi. About 370 students are availing free training at
these centers.
81
Headway
PHD Rural Development Foundation (PHDRDF)
I.
PHDRDF Healthcare Intervention
Health is one of the core pillars of human development and it is a key indicator for assessing the well-being and
capabilities of an individual. It constitutes an essential part of Human Development Index (HDI). Health outcomes can
be used as an indicator to measure the impact of developmental policies and interventions in a society. Good health is a
cherished goal as it helps in realizing human capabilities and thus contributes to our overall well-being. On the other hand,
ill-health hinders many factors like psychological, social and economic capabilities of a person.
In order to cater to this problem of healthcare, PHDRDF has been actively conducting free health camps in urban slums
and in rural areas to increase access to healthcare. The foundation has undertaken more than 2500 health camps and 1500
health awareness campaigns till date and continues to undertake 1100 health camps every year for various donors. A team
of a qualified Doctor, ANM, Lab Technician and project coordinator are present for each camp and are responsible for
its success.
A.
BHEL Mobile Health Camps & Awareness Campaigns
PHDRDF in partnership with Bharat Heavy Electronics Limited (BHEL) has been conducting generic mobile health
camps at their four plant locations – Goindwal (Punjab), Haridwar (Uttrakhand), Jagdishpur (UP) and Bhopal (Madhya
Pradesh). The project envisages to provide free consultancy and medicines to the community at their doorstep
and generate awareness on key health issues like child & maternal health, hygiene & sanitation, drug addiction and
adolescence.
.
i)
BHEL Haridwar
In Jaunuary 2016, PHDRDF successfully completed three years of implementing Mobile Medical Van Program with
support of BHEL at Haridwar. BHEL decided to extend their association with PHDRDF for another one year
and signed an MoU for the same. The MoU effective from March 1, 2016 aims to implement Mobile Medical Unit
program in Haridwar reaching out to people in rural communities around the BHEL plant with necessary healthcare
services. The MoU was signed by Mr. S.K. Aggrawal – GM-HR, BHEL Haridwar and Dr. Kadambari, PHDRDF in
the presence of CSR team officials of BHEL (Corporate and Haridwar) and PHDRDF.
ii)
BHEL GOINDWAL
iii)
In BHEL Goindwal located in Punjab, 20 Generic Health
camps were conducted this month across 20 villages in
the vicinity of the factory area of BHEL. A total of 1115
patients were given free consultation and medicines. Two
Health Awareness campaigns were also conducted during
this period.
iv)
BHEL JAGDISHPUR
In Jagdishpur, 20 Generic Health camps were organized and
1129 patients were given free medicines and consultation.
BHEL Bhopal
This month PHDRDF organized 20 Generic Health Camps at Bhopal, Madhya Pradesh. The patients included women,
men and children of all age groups who consulted a doctor for various ailments. 1272 patients were given free medicines and
consultation. Health Awareness campaigns were also conducted during this period.
82
Headway
B.
HPL Additives Ltd.
PHDRDF in continuation of their association with HPL Additives Ltd. is implementing the second phase of their CSR
project on providing Health services across 3 villages in Haryana namely; Dhatir, Saroorpur and Sikandarpur through
General Health camps, Women & Child Health Care centre, Eye Care camps and Awareness camps.
This month six Generic Health Camps, two women & child healthcare camps and one awareness camps were organized,
where 792 patients, including women and children were examined by the doctor and given free medicines and consultation;
35 people were reached out to during the awareness generation session. One eye care camp was also held at Saroorpur,
where 122 patients were checked and 63 were given spectacles.
C.
Kadimi Tool Mfg. Co. (P) Ltd.
Kadimi Tool is a leading manufacturer of thread rolling dies and a preferred supplier to a number of fastener units in the
world. Kadimi has partnered with PHDRDF for undertaking various CSR initiatives for FY 2015-16, one of them being
healthcare for the communities.
83
Headway
This month three Generic Health Camps & two Awareness camp were organized where 311 patients were given free
medicines and consultation in the generic health camps; 87 people were reached out to in the awareness camps. One eye
care camp was also held at Kapasera, where 200 patients were checked and 103 were given spectacles.
D.
BSES Yamuna Power Limited (BYPL)
PHDRDF in association with BSES Yamuna Power Limited (BYPL) is implementing their CSR project on providing
healthcare through free medical health camps in the low income settlements (LIS) of Delhi. This month 16 health
camps were conducted with approximately 1806 patients examined in each camp.
II.
PHDRDF Water Harvesting Intervention
A.
Ananda – The Coca Cola India Foundation
The Coca-Cola India Foundation is supporting PHDRDF in the construction of one check dam at Jugalpura, Sikar
district Rajasthan. The dam has been duly completed with the support of community members and its key stakeholders.
The dam will benefit 6,500 people of 4 villages around it.
B.
RIWCT Check Dams by Mr. Philippe Dangelser (Rotary India Water Conservation Trust)
Two check dams namely; Binjari Wala and Ounda Wala in Sikar and Alwar, Rajasthan respectively were constructed and
completed in December 2015. The project was jointly sponsored by Rotary Club Deidesheim – Mittelhaardt Germany,
Rotary Club Brumath Strasbourg – Campagne, France, Chivteam® Audiovisual Design Studio and Rotary India Water
Conservation Trust through Mr. Philippe Dangelser of Rotary Club France.
The Binjari wala check dam was duly inaugurated on February 19, 2016 and Aunda Wala check dam on February
20,2016 in the presence of all the stakeholders. Mr. Philippe Dangelser and Ms. J. Crieber were present from Rotary
Club France and Chivteam respectively while Dr. Kadambari along with field team including Mr. Goverdhan, Mr.
Dinesh and Banwari were present during the inauguration of the two dams. Villagers were present in large numbers to
support the cause. The event was also covered by local media.
The Binjari Wala dam will benefit 1670 people of two villages in Sikar and the Ounda Wala dam will benefit 780 people
of one village in Alwar, Rajasthan.
C.
Pranik Healing Foundation (RIWCT)
The Pranik Healing Foundation has
partnered with PHDRDF for the
construction of three check dams
in Alwar District of Rajasthan. The
construction work for these check
dams has started and is in progress.
84
Headway
D.
Rotary Global Grant
Construction of one check dam – Upra Wala, in Sikar
Dsitrict of Rajasthan has started with the support from
Rotary Global Grant through Mr. Sanjeev Saran. The
check dam is being constructed in Kalakota village of
the above mentioned district and will benefit 05 villages
which have a total population of 1,395 people and 210
households. On February 22, 2016 , Mr. Sanjeev Saran
and Mr. Ellias Thomas from Rotary along with a team
of 44 Rotarians and the PHDRDF team inaugurated the
Upra Wala dam. The team members from Rotary were
from 5 countries; US, UK, Australia, Canada and India.
Dr. Kadambari from PHDRDF along with Mr. Mukti
Narayan Lal and water field team were present during the
inauguration.
III.
PHDRDF School Development Program
PHDRDF is partnering with corporate and PSUs to construct toilets in schools under Swachh Bharat – Swachh Vidyalaya
School Toilet Program. Efforts are being undertaken to upgrade the schools for infrastructure and other basic requirements.
A.
OCCL Trust
PHDRDF with the support of Oriental Carbon Chemicals are implementing a CSR project under the Swachh Vidyalaya
Program. The project aims to construct a girl’s toilet block in the Government School Bhatsana, Rewari District, Haryana.
The toilet block has the provision for three students to use it at one time. The construction of toilets is in progress.
IV.
PHDRDF Skill Development
B.
OCCL Trust
PHDRDF has been undertaking skill development programs like stitching & tailoring, computer training, language skills,
soft skills, etc. with various corporates from time-to-time to enable the under privileged to be financially self-sufficient.
Kadimi Tool Mfg. Co. (P) Ltd. in partnership with PHDRDF has undertaken a project on skill development in the
peripheral village of Dundahera, Gurgaon as a part of their CSR initiative. The project will train the unemployed youth
to assist them in finding gainful employment. The need of the community was to train them in applicable computer
literacy and beauty culture. The skill development project offers the following courses for training the youth – Beauty
Culture and Computer Training along with Soft Skill Training, Basic English Speaking and Personality Development to
make them employable.
The centre is operational with 23 girls learning operational computer skills, spoken english and soft skills to secure jobs in
offices nearby to their communities. Another batch of 24 girls are learning beauty culture course so that they can either
open their own parlours or work in an existing parlour within their community. The computer course is for three months
and the first batch of students are expected to complete the course in March 2016; the first batch of beauty culture course
has been completed after 2 months of training and enrolment has begun for the second course.
85
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Media Buzz
The Hindu Business Line, New Delhi, March 4, 2016
The Dainik Jagran, New Del
hi, March 22, 2016
The Daily Excelsior, Jammu,
March 22, 2016
The Millennium Post, New
86
Delhi, March 23, 2016
Communique
Media Buzz
The Bhaskar, Ambala, March 4, 2016
The Business Standard, New Delhi, February 23, 2016
The Delhi Times,
New Delhi,
March 18, 2016
The Hindu Business Line, New Delhi,
March 11, 2016
87
Communique
Media Buzz
The Asian Age, New Delhi, March 19, 2016
The Business Standard, New
88
The Business Standard, New
Media Buzz
The Asian Age, New Delhi, March 26, 2016
The Hindu Business Line, New Delhi, March 24, 2016
The Aaj, UP, March 29, 2016
89
Communique
Bureaucratic Movements
Ms. Shakuntala Gamlin is the new Chief Secretary in the Government of Arunachal Pradesh. She is a
1984 batch IAS officer of AGMUT cadre.
Mr. Arvind Jadhav is the new Chief Secretary of Karnataka. He is 1978 batch IAS officer of Karnataka
cadre.
Mr. Satish Tandon is the new Chief Vigilance Officer in IRCON International Limited. He is a 1983
batch officer of Indian Telecom Service.
Mr. Lov Verma is the new Secretary, Department of Social Justice and Empowerment. He is a 1978
batch Indian Administrative Services officer of UP cadre.
Mr. Basudeb Mukherjee is the new Chief Secretary of West Bengal. He is a 1983 batch Indian Administrative Services officer.
NEW MEMBERS OF PHD CHAMBER FOR THE MONTH OF MARCH 2016
PATRON MEMBER
Mr Sanjay Jha
Director
Intex Technologies (India) Ltd
ORDINARY MEMBERS
Mr G S Visweswaran
Director
Akilaja Computer Technology
Mr Chinni Venkata Subhrao
Partner, Chiros Pharma
Mr Umesh Sharma
Whole Time Director
DCM Hyundai Ltd
Mr Gaurav Jain
Director, DCP India Pvt Ltd.
Mr Shadab
Proprietor, S S Enterprises
Mr Gaurav Goel
Managing Director
Dhampur Sugar Mills Ltd.
PROFESSIONAL MEMBERS
Mr Rajat Mangla
Partner
Shyam Sunder Mangla & Co CA
Mr Pradeep Tandon
President (Business Development)
Lalitpur Power Generation Company
Ltd.
Mr Sajjan Kumar Garg
Partner
Marine Lifesciences
Mr Gurmail Singh
Partner
Net Participate Solutions LLP
Mr V K Sinha
Proprietor
Veerendra KR. Sinha Associates
ASSOCIATION MEMBERS
Mr G S Agrawal
Director
Bansal Education Trust
India’s CAD narrows
India’s current account deficit (CAD) totaled US$ 7.1 billion (1.3 per cent of GDP) in Q3 of 201516, lower than US$ 7.7 billion (1.5 per cent of GDP) in Q3 of 2014-15 and US$ 8.7 billion (1.7
percent of GDP) in the preceding quarter. The contraction in CAD was primarily on account of a
lower trade deficit (US$ 34.0 billion) than in Q3 of last year (US$ 38.6 billion) and US$ 37.4 billion
in the preceding quarter. On a cumulative basis, CAD narrowed to 1.4 percent of GDP in AprilDecember 2015 from 1.7 percent in the corresponding period of 2014-15 due to decline in trade
deficit. India’s trade deficit narrowed to US$ 105.6 billion in April-December 2015 from US$ 113.4
billion during the same period of 2014-15.
90
Communique
SCHEDULE OF EVENTS / MEETINGS OF PHDCCI APRIL 2016
91
92
Communique
93
Budget 99, Taxation
Securitization, corporate
debt
restructuring,
voluntary tax compliance,
Intellectual
Property
Rights (IPR), laws relating
to food, beverage and
hospitality
industry,
corporate
governance,
tax incentives for exports,
MRTP,
investment
allowance, tax audit and
MODVAT.
T
he Chamber has
been working in
tandem with the
Government to evolve such
a tax regime, which can
mobilize resources with the
least pain. For this, the steep
rates have to be brought
down, the tax base has to be
widened and coercive tactics
replaced with voluntary
compliance.
seminars/ workshops primarily
to highlight the industry’s
problems. The subjects discussed
at such meetings included VAT,
foreign taxation, venture capital
investment, duty drawback, tax
provisions on exports, advance
rulings, transfer tax, customs
duty, central excise, valuation
rules and CENVAT, applicability
of service tax, tax deducted at
source, taxation of expatriates,
Some of the important
people who addressed
the Chamber’s meeting
were Mr. H.R. Bhardwaj,
Minister of State for Law,
Justice and Company
Affairs, in May 1994;
Mr. Jagannath Kaushal,
Union Minister for Law,
Justice and Company
Affairs in April 1984; Mr.
V.V. Badami, Chairman,
Central Board of Direct
Taxes, in August 1979 and
Secretaries of Department
of Company Affairs and
Revenue.
As a part of its activities in
the fiscal area, the Chamber
has met with the Revenue
Secretary, Chairman and
senior officials and Income
Tax Commissioners of the
Central Board of Direct
Taxes.
The Chamber has been
organizing
various
94
96
95
97
Total No of Pages -98
RNI No 34665/79
Registration Number DL-SW-1/4095/2015-17
Date of Publication - Published on 6th of every month
Date of Posting - 7th / 8th of same month
Printed by Mr. Saurabh Sanyal, Secretary General, PHD Chamber of Commerce and Industry, Published by Mr. Saurabh Sanyal
on behalf of PHD Chamber of Commerce and Industry, printed at Gokul Offset (P) Ltd, D - 159 A, Okhla Industrial Area - 1, New Delhi - 110020,
published at PHD Chamber of Commerce and Industry, PHD House, 4/2 Siri Institutional Area,
August Kranti Marg, New Delhi - 110016, Editor - Mr. Saurabh Sanyal
98

April Bulletin 2016 - PHD Chamber of Commerce and Industry

Transcription

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