MERCHANTS’ CHAMBER OF COMMERCE & INDUSTRY (Established in 1901)
REPORT OF THE COMMITTEE FOR THE YEAR 2018-19
15B Hemanta Basu Sarani, Kolkata 700001 Tel: 91 33 2248 1502 /6329/ 3123, 2262 5070(5 lines) FAX: 91 33 2248 8657 Email: [email protected] Website: www.mcciorg.com
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MERCHANTS’ CHAMBER OF COMMERCE & INDUSTRY 15B, Hemanta Basu Sarani Kolkata 700001
Dated: 15 June 2019 To ALL MEMBERS
Dear Members,
The Committee has great pleasure in presenting to you the report of activities for the year ending on 31 March 2019 in terms of Articles 34 (C) of the Constitution. The Audited Statement of Accounts and Balance Sheet for the year are also enclosed.
Yours faithfully,
Vishal Jhajharia President
Vivek Gupta Senior Vice President
Devesh Bansal Vice President
Bharat Agarwal Honorary Secretary
Pawan Tibrewalla Treasurer
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Contents
Page No.
1. Committee for the year 2018–19 ………………..……………….………………………………..
2. 117th Annual General Meeting …………………………..…………….…………………………….
3. Interactive Sessions/Symposia/Workshops ……..…..…………………………………………
4. Other Important Events …………..………………………………..…..……………......
5. Press Communique ………………………………………………………………….…………………
6. Representations/ Memoranda ………………………………………………..……………………
7. Working of the Standing Committees ………………………………….……………………….
8. Other Activities of the Chamber ………………………………………………………………….
9. Past Trustees/ Advisory Council/ MCC Foundation/ Standing Committees ………
10. Affiliations ……………………………………………………………………......
11. Representatives of the Chamber on Public Bodies ………………………………………….
12. Meetings held during the year ……………………………………………………………………..
13. Past Presidents ……………………………………………………………………………………………
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MEMBERS OF THE COMMITTEE FOR THE YEAR 2018–19
Office Bearers
President : Shri Vishal Jhajharia Senior Vice President : Shri Vivek Gupta Vice President : Shri Devesh Bansal Hony. Secretary : Shri Bharat Agarwal Treasurer : Shri Pawan Tibrewalla
Trustees Shri A.R. Sonthalia Shri B.K. Jhajharia Shri Radhe Shyam Agarwal Shri Shrawan Kumar Todi
Past Presidents
Shri M. C. Shah Shri Amitav Kothari Shri Arun Kumar Churiwal Shri Suresh Jhunjhunwala Shri Sheo Shankar Bagaria Shri Birendra Agarwal Shri Ajay Kajaria Shri Ravi Todi Shri Sushil Kumar Dhandhania Shri Sunil Kanoria Shri Kunj Behari Agarwala Shri Aditya V. Agarwal Shri Santosh Kumar Saraf Shri Atul Churiwal Shri Anupam Shah Shri Shyam Sunder Beriwala Shri Deepak Jalan Shri Sanjay Agarwal Shri Arun Kumar Saraf Shri Manish Goenka Shri Hemant Bangur Shri Ramesh Agarwal
MEMBERS OF THE COMMITTEE
Shri Arun Kumar Agarwal Shri B N Agarwala Shri Bijay Gujarwasia Agarwal Shri Brij Bhushan Agarwal Shri Bhagwandas Agarwal Shri Deepak Kumar Agarwal
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Shri Mahesh Kumar Agarwal Shri Mahendra Kumar Agarwal Shri Manish Agarwal Shri Mayank Agarwal Shri Ravi Agarwal Shri Sandeep Agarwal Shri Suresh Agarwal Shri Arvind Agrawal Shri Subodh Kumar Agrawal Shri Abhishek Bagaria Shri Manish Kumar Baid Shri Pulkit Baid Shri Santosh Bajaj Shri Namit Bajoria Shri Sunil Bansal Shri Tushar Basu Shri Manoj Kumar Beria Shri Lalit Beriwala Shri Vishnu Kumar Bhandari Smt. Mamta Binani Shri Srinjoy Bose Shri H.P. Budhia Shri Ravindra Chamaria Shri Gyanesh Chaudhary Shri Sudeep Chitlangia Shri Rajaram Chowdhary Shri Arun Kumar Dalmia Shri Kamal Kumar Dugar Shri Tulsi Kumar Dugar Shri Alok Garodia Shri Devendra Goel Shri Amit Goenka Shri Girdhari Lal Goenka Shri R.S. Goenka Shri Sanjay Goenka Shri Kailash Chand Goyal Shri Arun Kumar Jagatramka Shri Chandra Kumar Jain Shri Ravi Jain Shri Sanjay Jain Shri Sanjay Kumar Jain Shri Srikant Jain Shri Aditya Jajodia Shri Munish Jhajharia Shri Anirudh Jhunjhunwala Shri Srivatsa Kajaria Shri Nirmal Kaushik Shri Bimal Kumar Kejriwal Shri Mahesh Chandra Keyal Shri Surendra Keyal Shri Sharad Kumar Khaitan Shri Manaswy Kothari Shri Rishabh Kothari Shri Sanjib Kumar Kothari Shri Smarajit Mitra Shri Banwari Lal Mittal Shri Rajesh Mittal Shri Ravi Modi Shri Prakash Kumar More Shri Ashok Pareek Shri Pawan Kumar Patodia Shri Sanjib Kumar Patwari
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Shri Lavesh Poddar Shri Subir Poddar Shri Sushil Poddar Shri Sanjay Rasiwasia Shri Santosh K. Roongtaa Shri Nimish Saraf Shri Rahul Saraf Shri Samir Saraff Shri Amit Kumar Saraogi Shri Sandeep Seksaria Shri Aakash Shah Shri Alkesh Sharma Shri Vicky Raj Sikaria Shri Taranjit Singh Shri Pradeep Kumar Singhania Shri Rohit Singhania Shri Akhil Sonthalia Shri Jyoti Vardhan Sonthalia Smt. Priti Sureka Shri Rajeev Swaika Shri Ashok Kumar Todi Shri Pradip Kumar Todi Shri Adarsh Tulshan Shri Sharad Varma
Secretariat
Director General : Shri Souvik Banerjee Deputy Director General : Shri M.C. Das Deputy Director General : Shri S. Roy Asst. Director General : Smt. Munmun Banerjee Senior Deputy Secretary : Shri Sushantjit Dey Deputy Secretary : Shri Rajiv Mukerji Deputy Secretary : Shri Avishek Mukherjee Assistant Secretary : Shri Arijit Dey
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117th ANNUAL SESSION Chief Guest : Smt. Smriti Irani Hon’ble Minister for Textiles, Government of India on 29th September 2018 at The Oberoi Grand, Kolkata
INAUGURAL SESSION
The 117th Annual Session of the Chamber was held with Smt. Smriti Irani, Hon’ble Minister for Textiles, Government of India as the Chief Guest at The Oberoi Grand, Kolkata on 29th September 2018.
Addressing the Session, the Hon’ble Minister said that India was considered as one of the ‘Fragile Five’, along with Brazil, South Africa and Indonesia in 2014. Now in 2018, India is the 6th largest economy surpassing France. In 2019, India is expected to surpass United Kingdom.
She observed that in the Indian economy, agriculture grows side by side with industry. In Q1 2018–19, Agriculture grew at the rate of 8.2%, while Agriculture, Foestry & Fishing grew at 5.3%. Manufacturing grew at the rate of 13.5% in this quarter, while Corporate sector grew at more than 17%, construction at 8.7%. Production of cement increased by 14.2%, steel consumption grew by 8.4%. Sale of consumer vehicles increased at the rate of 51%.
On rural rejuvenation, She spoke about Suraksha Bima Yojana, an Insurance coverage of Rs. 2 lakhs for Re 1 per month. She also referred to Mudra Yojana to cater to the banking needs of the rural industries. She expressed satisfaction, 70% of those benefitted by Mudra Yojana are women, whore recovery rate range around 98–99 %.
The Hon’ble Minister stressed on the factual recognition of the burden of NPAs, as lending was done to non–viable projects. She focused on the need for better Governance, Transparency, Fiscal Discipline. On Fiscal Discipline, she said that in the last 4 years, the number of assesses increased by 64.6%.
Smt. Irani pointed out that GST had been the hallmark of cooperative federalism and political consensus, which has brought one of the 6th largest economies on a single track of development.
She also mentioned about the increasing FDI from $ 1.3 billion in 2015–16 to $ 6.2 billion in 2018–19, which is going to infrastructure. She dwelt upon the Government’s resolve to strengthen the infra projects by bringing in more FDI, to the tune of Rs.5.7 trillion.
She mentioned that India considers the trade war between China and USA as an opportunity, and not as a challenge. She felt that India would be benefitted by this trade war not only through policy intervention, but also through good industry practices.
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On jute industry, she stressed on the need for diversification of the products. Diversification would reduce dependence of the jute traders on the Government.
On Textiles sector, she assured that MCCI would be called for a discussion on the issues very soon. She invited the members to come to her office to discuss the problems faced by them.
Earlier, in his Presidential Address, Shri Ramesh Agarwal, Outgoing President of the Chamber said that India has now become the 6th largest economy in the world, according to a World Bank report, which has stated that India’s GDP stands at USD 2.59 Trillion. The economy crossing the 8% mark now largely depends on how effectively the various policies, especially those related to structural and infrastructure reforms are implemented. He also hoped that the focus on demand and job creation through spending on rural and labour- intensive infrastructure space is likely to support growth next fiscal, and push demand in the consumer sectors.
The Session ended with Vote of Thanks by Shri Vishal Jhajharia, Senior Vice President & President–Elect of the Chamber. **************
117TH ANNUAL GENERAL MEETING on 26 September 2018 at MCCI Conference Hall
Shri Ramesh Agarwal, President took the Chair in terms of Article 16(a) of the Articles of Association of the Chamber.
Shri Surendra Keyal, Honorary Secretary read out the Notice dated 11 September 2018 convening the 117th Annual General Meeting of the Chamber.
Agenda wise 5 Resolutions were passed :
RESOLUTION No. 1 : APPROVAL AND ADOPTION OF ANNUAL REPORT OF THE COMMITTEE FOR THE YEAR 2017–2018 :
“RESOLVED THAT the Report of the Committee for the year 2017–18 be hereby adopted.”
Proposed by : Shri A R Sonthalia Seconded by : Shri Suresh Jhunjhunwala
The Resolution was put to vote and carried unanimously.
RESOLUTION No. 2 : APPROVAL AND ADOPTION OF FINANCIAL STATEMENTS OF THE CHAMBER FOR THE YEAR 2017–2018.
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“RESOLVED THAT the audited Balance Sheet and the Statement of Income & Expenditure Account of the Chamber for the year ending 31st March, 2018 along with the Report of the Auditor be hereby adopted.”
Proposed by : Shri B K Jhajharia Seconded by : Shri Ajay Kajaria
The Resolution was put to vote and carried unanimously.
RESOLUTION No. 3 : ELECTION OF OFFICE BEARERS & COMMITTEE MEMBERS FOR THE YEAR 2018–2019 :
“RESOLVED that Item No. 3 is adjourned to 29th September 2018 after the Open Session with the Chief Guest Smt. Smriti Irani, Hon’ble minister for Textiles, Govt. of India.
The Notice would be issued very soon.”
The Resolution was carried unanimously.
RESOLUTION No. 4 : APPOINTMENT OF AUDITORS FOR THE YEAR 2018–2019 :
“RESOLVED THAT pursuant to the provisions of sections 139, 141 read with the Companies (Audit and Auditors) Rules, 2014 and other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force) and pursuant to the resolution passed by the members at the 113th Annual General Meeting (AGM) held on 30th September, 2014, appointing M/s. K. Prasad & Co., Chartered Accountants, Kolkata (ICAI Firm Registration No. 303062E), as the Statutory Auditors of the Company, to hold office till the conclusion of the 118th AGM of the Company and pursuant to the recommendations of the Committee of the Company, the appointment of the said Statutory Auditors of the Company to hold office from the conclusion of the 117th AGM to the conclusion of the 118th AGM be and is hereby ratified and that the Committee be and is hereby authorised to fix such remuneration in consultation with the said Auditors.”
“RESOLVED FURTHER THAT the honorarium for the year 2018–19 shall be Rs. 20,000/- (Rupees Twenty Thousand) plus GST.
Proposed by : Shri Birendra Agarwal Seconded by : Shri Sushil Kumar Dhandhania
The Resolution was put to vote and carried unanimously.
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RESOLUTION No. 5 : BUDGET OF THE CHAMBER FOR THE YEAR 2018–19
“RESOLVED THAT this Item should be treated as a “Special Business”, and not an “Ordinary Business”.
“RESOLVED FURTHER THAT this Agenda Item would be adjourned till 29th September 2018 and would be considered along with Item No. 3”.
The Resolution was carried unanimously.
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117TH AGM ADJOURNED AGENDA on 29 September 2018 at 4 PM at Hotel Oberoi Grand, Kolkata
In terms of Article 16(a) of the Articles of Association of the Chamber, Shri Ramesh Agarwal, President took the Chair and took up the Agenda on Election of Office Bearers and Committee Members for the year 2018–19.
Agenda No. 3 : ELECTION OF OFFICE BEARERS & COMMITTEE MEMBERS FOR THE YEAR 2018–2019:
RESOLUTION
TO ELECT THE PRESIDENT FROM AMONGST THE MEMBERS AND TO CONSIDER, IF THOUGHT FIT, TO PASS, WITH OR WITHOUT MODIFICATION, THE FOLLOWING RESOLUTION, AS AN ORDINARY RESOLUTION :
3 (a) “RESOLVED THAT in pursuance to the provisions of Section 160 and other applicable provisions, if any, of the Companies Act 2013 and the rules made there under (including any statutory modification(s) or re-enactment(s) thereby for the time being in force) read with Articles 13 (c) of the Articles of Association of the Chamber, the consent of the Members of the Chamber be and is hereby agreed to the appointment of Shri Vishal Jhajharia, DIN No. 00768962, as President of the Chamber for the Year 2018–2019, to hold office from the conclusion of this Annual General Meeting until the next election is made.”
Proposed by : Shri A R Sonthalia Seconded by : Shri Amitav Kothari
The Resolution was put to vote and carried unanimously.
TO ELECT THE SENIOR VICE PRESIDENT FROM AMONGST THE MEMBERS AND TO CONSIDER, IF THOUGHT FIT, TO PASS, WITH OR WITHOUT MODIFICATION, THE FOLLOWING RESOLUTION, AS AN ORDINARY RESOLUTION.
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3 (b) “RESOLVED THAT in pursuance to the provisions of Section 160 and other applicable provisions, if any, of the Companies Act 2013 and the rules made there under (including any statutory modification(s) or re-enactment(s) thereby for the time being in force) read with Articles 13(c)(i) and Article 14 (a) of the Articles of Association of the Chamber, the consent of the Members of the Chamber be and is hereby agreed to the appointment of Shri Vivek Gupta, DIN No. 00548992 as Senior Vice President of the Chamber for the Year 2018– 2019, to hold office from the conclusion of this Annual General Meeting until the next election is made.” Proposed by : Shri B K Jhajharia Seconded by : Shri Birendra Agarwal
The Resolution was put to vote and carried unanimously.
TO ELECT THE VICE PRESIDENT FROM AMONGST THE MEMBERS AND TO CONSIDER, IF THOUGHT FIT, TO PASS, WITH OR WITHOUT MODIFICATION, THE FOLLOWING RESOLUTION, AS AN ORDINARY RESOLUTION
3 (c) “RESOLVED THAT in pursuance to the provisions of Section 160 and other applicable provisions, if any, of the Companies Act 2013 and the rules made there under (including any statutory modification(s) or re-enactment(s) thereby for the time being in force) read with Articles 13(c)(i) and Article 14(a) of the Articles of Association of the Chamber, the consent of the Members of the Chamber be and is hereby agreed to the appointment of Shri Devesh Bansal, DIN No. 00162513 as Vice President of the Chamber for the Year 2018–2019, to hold office from the conclusion of this Annual General Meeting until the next election is made.”
Proposed by : Shri M C Shah Seconded by : Shri Santosh Saraf
The Resolution was put to vote and carried unanimously.
The Chairman informed that the above mentioned persons would be the Office Bearers of the Chamber and would be the Directors of the Chamber, under the provisions of the Companies Act 2013.
Agenda 3 (d) ELECTION OF COMMITTEE MEMBERS :
In terms of Article 14(b) of the Articles of Association of the Chamber, 9 members of the Committee shall retire by rotation at this session. 9 members, including those retiring by rotation shall be elected in place of those retiring.
“RESOLVED THAT in pursuance of the provisions of Article 14(b) of the Articles of Association of the Chamber, the following Members be elected to the Committee.”
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Committee Member : 1. Shri Amitav Kothari
Moved by : Shri Pawan Tibrewalla Seconded by : Shri S K Bansal
The Resolution was put to vote and carried unanimously.
Committee Member : 2. Shri Arun Kumar Churiwal
Moved by : Shri M C Shah Seconded by : Shri Rajaram Chowdhary
The Resolution was put to vote and carried unanimously.
Committee Member : 3. Shri Ajay Kajaria
Moved by : Shri Surendra Keyal Seconded by : Shri Tushar Basu
The Resolution was put to vote and carried unanimously.
Committee Member : 4. Shri Santosh Saraf
Moved by : Shri C K Jain Seconded by : Shri Arun Kumar Dalmia
The Resolution was put to vote and carried unanimously.
Committee Member : 5. Shri Anupam Shah
Moved by : Shri Nirmal Kaushik Seconded by : Shri Munish Jhajharia
The Resolution was put to vote and carried unanimously.
Committee Member : 6. Shri Tushar Basu
Moved by : Shri Smarajit Mitra Seconded by : Shri Nimish Saraf
The Resolution was put to vote and carried unanimously.
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Committee Member : 7. Shri Bimal Kumar Kejriwal
Moved by : Shri Rishabh Kothari Seconded by : Shri Aakash Shah The Resolution was put to vote and carried unanimously.
Committee Member : 8. Shri Subodh Kumar Agrawal
Moved by : Shri Santosh K Roongtaa Seconded by : Shri Lavesh Poddar
The Resolution was put to vote and carried unanimously.
Committee Member : 9. Shri Surendra Keyal
Moved by : Shri Niraj Sanganeria Seconded by : Shri Aakash Shah
The Resolution was put to vote and carried unanimously.
SPECIAL BUSINESS Agenda 5 : BUDGET OF THE CHAMBER FOR THE YEAR 2018–2019 RESOLUTION
To receive, consider and adopt the Budget of the Company for the financial year 2018-19 and in this regard to consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary Resolution :
“RESOLVED THAT the Budget of the Company for the financial year 2018-19 be and is hereby approved and adopted.”
Proposed by : Shri Amitav Kothari Seconded by : Shri Santosh K. Roongtaa
The Resolution was put to vote and carried unanimously.
The Chairman congratulated Shri Vishal Jhajharia on his election as the President of the Chamber and expressed his satisfaction that he handed over the baton to such a dynamic person.
Shri Ramesh Agarwal thanked all Trustees, Past Presidents, Members of Committee, Chairmen and Co-Chairmen of Standing Committees, and members for their support, guidance and participation in various programmes held during the year. He felt that the Chamber would reach greater heights under the dynamic leadership of Shri Vishal Jhajhria as the President.
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He also appreciated the dedication and hard work put in by the Secretariat to make all programmes and activities fruitful and visible.
Shri A.R. Sonthalia complimented the outgoing Team led by Shri Ramesh Agarwal for their immense contribution and hoped that the Chamber would still receive active support from Shri Agarwal. He extended hearty congratulations to the newly elected Office Bearers for the year ahead. He felt that the past Presidents should take more interest in the activities of the Chamber. He appreciated the dedication of the Secretariat for putting in tremendous effort during the year.
Expressing his appreciation on an eventful year of the Chamber, Shri B.K. Jhajharia thanked the outgoing Office Bearers’ Team led by Shri Ramesh Agarwal, for their outstanding work. He congratulated the incoming Team under the Presidentship of Shri Vishal Jhajharia and was hopeful that the Chamber would attain newer dimensions and greater heights under his dynamic leadership. He also put on record strong appreciation for the dedication and commitment of the Secretariat. He made a special mention of Programmes like the “MCCI India Economic Forum” and other sectoral programmes as also reach–out programmes to Haldia and North Bengal.
Shri Amitav Kothari spoke highly regarding the multifarious work of the Chamber. He felt that MCCI could play a more important role by partnering actively with the different Ministries & Departments of the Union & State Governments in addressing key economic issues.
Shri Birendra Agarwal appreciated the immense contribution of the outgoing President to the Chamber as also for taking the Chamber to greater heights.
Shri Vishal Jhajharia, the newly elected President thanked all the Trustees, Past Presidents and the Members for the confidence and trust bestowed upon him by electing him as President of the Chamber. He sought co-operation from all to enable him to discharge his responsibilities as the President of this august body.
Shri Ramesh Agarwal proposed the Vote of Thanks to the Chair and to the members for attending the session.
Newly Elected Committee
The First Meeting of the New Committee was held after the Session on Adjourned Agenda.
Shri Vishal Jhajharia, President, took the chair and welcomed all members present to the First Meeting of the New Committee. He thanked the Trustees, Past Presidents and Members for bestowing their confidence in him and electing him as the President. He sought co-operation, active support and guidance from all in carrying out the functions of the Chamber effectively and taking new initiatives in the Chamber.
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Shri A. R. Sonthalia, proposed the following names from the two specific categories of A & B for the year 2018–19 in terms of the said Article 13(c)(iii) of the Articles of Association of the Chamber.
Category A : Past Presidents : 1. Shri S S Bagaria 2. Shri Sushil K. Dhandhania 3. Shri Kunj Behari Agarwala 4. Shri Aditya V. Agarwal 5. Shri Atul Churiwal 6. Shri Manish Goenka
Category B : Other Members :
1. Shri Ramesh Agarwal – Immediate Past President 2. Shri Hari Prasad Budhia 3. Shri Srivatsa Kajaria
The proposal was unanimously approved by the Committee.
The President informed that in terms of Article 13(c)(iv) of the Articles of Association, the New Committee was required to nominate all Director Members as members of the Committee for the year, 2018-19. He further mentioned that currently there were 89 Director Members, out of whom three members had been elected as President, Senior Vice President and Vice President. As such, the remaining 86 Director Members would become ipso facto members of the New Committee, with all rights and privileges, in terms of the aforesaid Article 13(c)(iv), subject to the payment of their annual subscription.
The names of 89 Director Members are given below :
Sr. No. Name of Organisation Name of Representative
1 Adhunik Corporation Ltd. Mahesh Kr. Agarwal
2 ASO Cement Limited Sandeep Agarwal
3 Avenues 4 Education Pvt. Ltd. Samir Saraff
4 Auto Distributors Ltd. Subir Poddar
5 Affinity Global Services Pvt. Ltd. Sanjay Bhalotia
6 Anmol Feeds Pvt. Ltd. Amit Kumar Saraogi
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7 Alliance Commercial Transport Nimish Saraf
8 Bharat NRE Coke Limited A.K. Jagatramka
9 Bajoria Entertainment Pvt. Ltd. (Kutchina) Namit Bajoria
10 Bengal Beverages Pvt. Ltd. Amit Goenka
11 Bhushan Power & Steel Ltd. Alkesh Sharma
12 B.Ghose & Co. Pvt. Ltd. Sharad Varma
13 BTL EPC Ltd. Ravi Todi
14 BDJ Oxides Private Limited Anirudh Jhunjhunwala
15 Calcutta Ferrous Limited Bhagwandas Agarwal
16 Century Plyboards India Ltd. Sanjay Agarwal
17 Concast Steel & Power Limited Sanjay Kumar Sureka
18 CKC Fragrances and Flavours Pvt. Ltd. Rishabh Kothari
19 Celica Developers Pvt. Ltd. Adarsh Tulshan
20 EMAMI Ltd. R.S. Goenka
21 Essel Kitchenware Limited Kailash Chand Goyal
22 ECL Agrotech Limited Santosh K. Roongtaa
23 Forum Projects Pvt. Ltd. Rahul Saraf
24 Great Eastern Retail Pvt. Ltd. Pulkit Baid
25 Great Eastern Trading Co. Manish Kumar Baid
26 Greenply Industries Limited Rajesh Mittal
27 Golden Goenka Credit Pvt. Ltd. Girdhari Lal Goenka
28 Glaxo Finance Pvt. Ltd. Kamal Kumar Dugar
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29 Ganapati Balaji Spinning Mills Pvt. Ltd. Bijay Gujarwasia Agarwal
30 Haldiram Bhujiawala Ltd. Manish Agarwal
31 Happy e–Zon Ltd. Sushil Poddar 32 Hindcon Chemicals Limited Sanjay Goenka
33 Jai Balaji Industries Ltd. Aditya Jajodia
34 J.G. Hosiery Pvt. Ltd. Sandeep Seksaria
35 Jupiter International Ltd. Alok Garodia
36 Joonktollee Tea & Industries Ltd. Hemant Bangur
37 JRK Stock Broking Pvt. Ltd. Ravi Jain
38 JVS Securities Pvt. Ltd. Jyoti Vardhan Sonthalia
39 King Chemicals Sanjib Kumar Kothari
40 Lux Industries Ltd. Ashok Kr. Todi
41 Lumino Industries Ltd. Devendra Goel
42 Linc Pen & Plastics Limited Deepak Jalan
43 Multiwyn Industries Pvt. Ltd. Vishal Jhajharia
44 Mayur Ply Industries Pvt. Ltd. Prakash Kumar More
45 Meghalaya Cements Ltd. Mahendra Kumar Agarwal
46 Mortex (India) Mahesh Chandra Keyal
47 Neo Metaliks Limited Ravi Agarwal
48 National Printing Works B.N. Agarwala
49 Nipha Exports Pvt. Ltd. Aakash Shah
50 Phuguri Tea Estate Pvt. Ltd. Abhishek Bagaria
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51 Pulkit Veneer Mills Pvt. Ltd. Pawan Kumar Patodia
52 Pratidin Prakashani Pvt. Ltd. Srinjoy Bose
53 Pradip Kumar Todi Pradip Kumar Todi
54 Pragya Mercantile Pvt. Ltd. Tulsi Kumar Dugar
55 Priti A. Sureka Priti A. Sureka
56 Plymex Timber Pvt. Ltd. Srikant Jain
57 Rupa & Co. Ltd. Ramesh Agarwal
58 Ramesh Kumar & Co. Pvt. Ltd Ramesh Kumar Agarwal
59 Ravindra Chamaria Ravindra Chamaria
60 Rashmi Metaliks Ltd. Sanjib Kumar Patwari
61 Sastasundar Ventures Limited B.L. Mittal
62 Sarda Plywood Industries Ltd. Sudeep Chitlangia
63 SREI Infrastructure Finance Ltd. Sunil Kanoria
64 Singhania & Sons Pvt. Ltd. Pradeep Kumar Singhania
65 Saltee Infrastructure Ltd. Surya Prakash Bagla
66 Sanmarg Pvt. Ltd. Vivek Gupta
67 Supreme Wood Products Pvt. Ltd. Manoj Kumar Beria
68 Sreerampur Ispat Pvt. Ltd. Pawan Tibrewalla
69 Shyam Steel Industries Limited Shyam Sunder Beriwala
70 Shyam Steel Manufacturing Limited Lalit Beriwala
71 Supertron Electronics Pvt. Ltd. Vishnu Kumar Bhandari
72 Skipper Limited Devesh Bansal
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73 Sudhir Chandra Sur Degree Engineering College Taranjit Singh
74 Siddha Real Estate Development Pvt. Ltd. Sanjay Jain
75 Shakambhari Ispat & Power Ltd. Deepak Kumar Agarwal
76 SREI Capital Markets Ltd. Ashok Pareek
77 Shakti Logistics Pvt. Ltd. Lavesh Poddar
78 Shyam Metalics and Energy Ltd. Brij Bhushan Agarwal
79 Sikaria Projects Pvt. Ltd. Vicky Raj Sikaria
80 Smarajit Mitra & Associates Smarajit Mitra
81 Satellite Exim Pvt. Ltd. Suresh Agarwal
82 Shailja Park Pvt. Ltd. Mayank Agarwal
83 Swadeshi Marketing Pvt. Ltd. Sanjay Rasiwasia
84 T.T. Limited Sanjay Kumar Jain
85 UAL Industries Ltd. Arun Kumar Saraf
86 Utkarsh India Ltd. Sunil Bansal
87 Vikram Solar Limited Gyanesh Chaudhary
88 Vedant Fashions Pvt. Ltd. (Manyavar) Ravi Modi
89 Vision Comptech Integrators Ltd. Neetish Sarda
The Committee approved and adopted the proposal unanimously.
In terms of Article 13(c)(ii) of the Articles of Association, the Committee was required to elect Hony. Secretary and Treasurer from among its Members for the year 2018–19.
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The President proposed the names of Shri Bharat Agarwal and Shri Pawan Tibrewalla as Hony. Secretary and Treasurer respectively for the year 2018–19.
Hony. Secretary – Shri Bharat Agarwal Treasurer – Shri Pawan Tibrewalla The proposal was approved unanimously by the Committee.
The President proposed the following names as Chairman and Co-Chairman of the Advisory Council for the year 2018–19.
Chairman – Shri R S Agarwal Co-Chairman – Shri B K Jhajharia The proposal was approved unanimously by the Committee.
As per convention, Shri Vishal Jhajharia, President in office was nominated as Chairman of the MCC Foundation for the year 2018–19.
The Chairman then proposed the following Expert Bodies and Standing Committees, with the Chairman / Chairperson and Co-Chairman/ Co-Chairperson for each of them, for the year 2018-19.
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Advisory Council, MCC Foundation & Standing Committees for 2018–19
Chairman Co-Chairman
Advisory Council R. S. Agarwal B. K. Jhajharia
Merchants' Chamber of Commerce Vishal Jhajharia
Foundation
Chairperson Co-Chairperson
MCCI Ladies Forum (MLF) Prapti Jhajharia Ruchika Gupta
Standing Committees for 2018 – 19
Sector Chairman Co-Chairman a. Suresh Agarwal 1. Agriculture & Food Processing Santosh K. Roongta b. Aakash Shah
2. Banking & Finance Sanjay Rasiwasia Smarajit Mitra
3. Capital Market & Insurance Subodh Kumar Agrawal Ashok Pareek
4. Corporate Law & Governance Mamta Binani Ashok Purohit
5. CSR & Rural Development Suresh Agarwal Sanjay Rasiwasia
6. Direct Taxes Arvind Agrawal Sanjay Bhattacharya
7. Education & Skill Development Samir Saraff Taranjit Singh
8. Foreign Trade Mahesh Chandra Keyal Sanjib Kumar Kothari
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a. Sushil Kumar Goyal
9. GST & Indirect Taxes Arun Kumar Agarwal
b. Sanjib Kumar Kothari
10. HRD Tushar Basu Abhishek Bagaria
11. Industry Lalit Beriwala Anirudh Jhunjhunwala
a. Rohit Singhania
12. Infrastructure & Real Estate Munish Jhajharia
b. Siddhartha Tantia
13. IT & Communication Vishnu Kumar Bhandari Sanjib Sanghi
14. Logistics, Transport & Lavesh Poddar Rajesh Agarwal Warehousing
15. Membership Development Santosh Kumar Saraf Arun Kumar Saraf
16. MSME Rishabh Kothari Akhil Sonthalia
17. Power & Renewable Energy Sanjib Kumar Patwari Devendra Goel
a. Pulkit Baid
18. Retail Trade Namit Bajoria b. Manish Agarwal
19. Steel Ravi Agarwal Deepak Kumar Agarwal
20. Textile & Jute Srivatsa Kajaria Gautam Jhunjhunwala
********************
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INTERACTIVE SESSIONS / SYMPOSIA / WORKSHOPS
Interactive Session on ’Bilateral Trade Between India and Vietnam: Prospects & Way Ahead’ with H. E. Mr. Ton Sinh Than, Ambassador of Socialist Republic of Vietnam and Mr. Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment, Government of West Bengal on 4 April 2018 at MCCI
The Chamber organised an interactive session on ’Bilateral Trade Between India and Vietnam: Prospects & Way Ahead’ with H. E. Mr. Ton Sinh Thanh, Ambassador, Embassy of the Socialist Republic of Vietnam and Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment, Govt. of West Bengal on 4 April 2018 at its premises. Shri Sadhan Pande said that trade between the two countries had been growing and further growth is possible. Indians could conduct business with Vietnam, now being done by Americans at lower cost, he commented.
Mr. Ton Sinh Thanh observed that Vietnam with a GDP of about USD 240 billion, grew at 6.8% last year with a population of 98 million and a robust export market. Vietnam, a favourite destination for FDI attracted foreign investment of USD 33 billion, last year. Vietnam’s two way trade with India stood at USD 425 billion in 2017–18. However, trade between India and Vietnam had been less than 1% of Vietnam’s economy and total Indian investments are only about USD 1 billion. Last year, 13 million tourists visited Vietnam last year but only 110,000 came from India. In this regard, the Ambassador felt that connectivity between the two countries should be improved and a direct air service to be launched soon with New Delhi. Mr. Tran Le Tien, Counsellor, Mr. Phan Van Truong, First Secretary and Mr. Pham Tri Dung, First Secretary, Embassy of Vietnam in India were also resent.
Earlier, in his welcome address Shri Ramesh Agarwal, President MCCI spoke about the special bond between the two countries. Bilateral trade has been growing and there is ample room for further growth in trade and investments. The session ended with a hearty vote of thanks offered by Shri Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. **************
Interactive Session with H E Mr. Riho Kruuv, Ambassador of the Republic of Estonia in India on “Doing Business with Estonia” on 6 April 2018 at MCCI
The Chamber organized an Interactive Session with H E Mr. Riho Kruuv, Ambassador of the Republic of Estonia in India on “Doing Business with Estonia” on Friday, 6 April 2018 at its premises. Addressing the members, Mr. Riho Kruuv pointed out that Estonia, a small beautiful country with population of only 1.3 million, providing a market of US$ 500 million, had been very strong on Information Technology and allied areas and invited Indian investments in the areas of IT/ITES in Estonia. He referred to an important project on Digital Identity of Citizens titled e-Residency, which started in 2000, around 3000 services had been made available in digital format. Focusing on the huge business opportunities, he charted out the promising areas as Fintech, Cyber Security, Blockchain, Internet of Things and Defence
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23 sector companies. He referred to the success story of the Indian IT start–up Velmenni in Estonia, in the area of data transmission as fast as speed of light. Mr. Chandra Kumar Dhanuka, Hony. Consul of Estonia in Kolkata spoke about the immense tourism potential of the country. He pointed out that if profits are re-invested in Estonia, there would be no taxes in the country, taking profits out of the country will imply a tax of 20%. Mr. Ankit Bahl, Advisor, Trade & Investments, Embassy of Republic of Estonia in India, said that 98% of companies in Estonia had been established online, 99% of banking done online and 95% of tax declaration done online.
Earlier, in his welcome address, Shri Shyam Sunder Beriwala, Former President of the Chamber said that trade between India & Estonia in 2016 was USD$ 199.96 million, with India’s exports being USD 97.5 million. Major items of Indian export to Estonia : machinery and equipment, garments, knitwear, articles of leather; saddles and harness, travel goods, handbags. Major Estonian exports to India: Iron and steel, fertilizers, electrical machinery, paper and paperboard; paper pulp, veneer etc. The Session ended with a hearty Vote of Thanks by Shri Sanjib Kothari, Co- Chairman, Foreign Trade Standing Committee of the Chamber. ****************
Interactive Session with Mr. Demetrios A. Theophylactou, High Commissioner of the Republic of Cyprus in India on ’Doing Business with Cyprus’ on 9 April 2018 at MCCI
The Chamber organised an Interactive Session with H. E. Mr. Demetrios A. Theophylactou, High Commissioner of the Republic of Cyprus in India on ’Doing Business with Cyprus’ on 9 April 2018 at its premises. Addressing the House, Mr. Demetrios A. Theophylactou said that Cyprus, a member of EU, offers a high quality of life to its population which is slightly over one million. It is ranked at #1 in safety among small nations. On tax incentives, Cyprus has a corporate tax rate of 12.5% and there is a provision for 100% repatriation of profit. Dividend income, profits from overseas permanent establishments and profits from sale of securities are exempt from taxes. He focused on areas like natural gas, renewable energy, real estate, hospitality and tourism, science & technology, tech parks, applied research, business incubators, ICT, energy, nanotechnology and health & bio- medicine. The country is becoming a hub for natural gas. Cyprus is the largest ship management centre in EU with more than 1,022 registered vessels and 21 million gross tonnage. The volume of trade between India and Cyprus is not high but there is potential for growth. Mr. Anil Jhunjhunwala, Hony. Consul of Cyprus in Kolkata highlighted the Double Taxation Agreement between India and Cyprus.
Earlier, in his welcome address, Shri Vishal Jhajharia, Senior Vice President, MCCI said that the revised India–Cyprus Double Taxation Avoidance Agreement, signed in November 2016, could be instrumental in increasing investments between the two countries. The session ended with a hearty vote of thanks by Shri Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. *****************
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Launching of MCCI MSME Help Desk on 17 April 2018 at MCCI
MCCI MSME Help Desk was launched on 17 April 2018 at the premises of the Chamber by Shri Rajiva Sinha, IAS, the–then Additional Chief Secretary, Department of MSME & Textiles, Government of West Bengal. Col. Sabyasachi Bagchi, Chairman, The West Bengal Small Industries Development Corporation Ltd. was also present on the occasion. The objective of the Help Desk is to provide umbrella support to the MSME community to help them leverage the opportunities and explore solutions to the key issues of finance availability, access to technology, skill-upgradation of manpower, manufacturing incentives & others. This Help Desk will be held once a month / as per requirements in association with the Department of MSME & Textiles, Government of West Bengal. This initiative will also be supported by The West Bengal Small Industries Development Corporation Ltd., with M/s Suvidha Consultants as the Knowledge Partner.
Launching the Help Desk by releasing the MCCI MSME Help Desk Brochure, Shri Rajiva Sinha complimented MCCI for taking this praise worthy initiative. He said that at the Help Desk, there should be proper planning with the domain experts to have well coordinated and pre appointed meetings with the concerned MSME units. Regular interactions with domain experts and other experts outside the list would be important. He said that Shri Raj Kumar Middya, Joint Director, MSME Directorate, Govt. of West Bengal and a Mentor to the Help Desk would help in demystifying the rules for the MSMEs. Shri Sinha requested MCCI to reach out to the villages, rural and semi rural areas to provide assistance to the needy MSME units. He assured support of the State Government to MCCI in this endeavour.
Addressing the members, Col Sabyasachi Bagchi said that West Bengal had been in the top bracket in the country with MSME being the main focus. He felt that the Help Desk should facilitate informal interaction with the entrepreneurs and should focus on Skill Development, Research & Development and Technological Upgradation
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President, MCCI expressed satisfaction that West Bengal accounted for 11.62 p.c. of MSMEs, having more than 52 lakh MSMEs, highest number of MSMEs in the country. However, despite its growth and huge potential, the MSME sector had been beset with its own key challenges, including lack of availability of adequate and timely capital infusion, high cost of credit, collateral requirements, limited access to equity capital and others.
In his Theme Address, Shri Rishabh Kothari, Chairman, Standing Committee on MSME, MCCI said that a panel of domain experts would be available at the MSME Help Desk for mentoring and guidance, for the benefit of the concerned MSME units. Mentoring would be in the areas of MSME General Issues, GST & Taxation, Finance, Banking and Project Appraisal, Exports Incentive and Foreign Trade Policy and others. The programme ended with a hearty Vote of Thanks by Shri Akhil Sonthalia, Co Chairman, Standing Committee on MSME of the Chamber. *********************
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Interactive Session with Mr. Masayuki Taga, Consul General of Japan in Kolkata on ’Strengthening Indo-Japan Relations in Free and Open Indo-Pacific’ on 18 April 2018 at MCCI.
The Chamber organised an Interactive Session with Mr. Masayuki Taga, Consul General of Japan in Kolkata on ’Strengthening Indo-Japan Relations in Free and Open Indo- Pacific’ on 18 April 2018 at its premises. Mr. Taga said that the industrial relationship of India and Japan dated back to 1902. When Japan started to industrialise, India was an important source of cotton. He said that exports from Japan to India form just 1% of Japan’s total trade. In contrast, China accounts for 22% of Japan’s total trade. Indian exports to Japan form only 2% of India’s total trade, while the corresponding figure for China is 11%. About 350 Japanese companies operate in India, particularly in joint venture business activities, he mentioned about Tata Hitachi in manufacturing construction equipment, Nomura Research in software for the financial sector employing 350 employees, Kawasaki company in cold storage for preservation of agri products. He stressed on the importance of more people to people interaction between the two nations to facilitate further dvelopment.
Dr. Srikanth, Officer on Special Duty, Department of Industry, Commerce & Enterprises, Govt. of West Bengal mentioned that the state being the 4th largest economy in India, having huge mineral resources and good connectivity, could be an ideal place for Japanese investment.
Mr. Ramesh Agarwal, President, MCCI in his Welcome Address, spoke about the wide Indian trade deficit with Japan. While India’s exports stood at $3.93 billion during April 2017 to January 2018, imports from Japan were as high as $9.00 billion during this period. India’s exports of IT and IT enabled services to Japan accounted for less than 1% of Japan’s IT services market. The session ended with a hearty vote of thanks offered by Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. ********************* Interactive Session with H. E. Mr. Fleming Duarte Ambassador of Paraguay in India on ’Doing Business with Paraguay’ on 19 April 2018 at MCCI.
The Chamber organised an interactive session with H.E. Mr. Fleming Duarte, Ambassador of Paraguay in India on ’Doing Business with Paraguay’ at the Chamber premises on 19 April 2018. Mr. Duarte said that the country is primarily an agricultural country with 95% of its land good for food production. The country is the world’s sixth largest producer of soyabean, wheat and corn, fourth largest exporter of soya bean and sixth largest meat exporter. Paraguay could the preferred destination due to its political stability, kind people and strategic geographic location. It is a sparsely populated country of about 400,000 square km which is using immigration to increase its population. With 70 % of population below 35 years, the country offers a young, competitive and cost effective workforce. Paraguay’s Strategic Plan 2030 is education and training. The Government is considering association with Indian Universities.
Mr. Yash Poddar, Hony. Consul of Paraguay in Kolkata briefly mentioned that main features of Paraguay include its free market system, stable government and budget deficit as low as 1.5 %.
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Earlier, in his Welcome Address, Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI said that total trade between the two countries was USD 211 million in 2016, of which India’s exports to Paraguay amounted to USD 142 million and India’s imports from Paraguay were worth USD 69 million. Indian imports of soya and sunflower oil from Paraguay are expected to increase in the coming years, given the growing shortage of edible oil in India. The session ended with a hearty vote of thanks offered by Mr. Sanjib Kothari, Co-Chairman, Standing Committee on Foreign Trade, MCCI. *********************
Discussion on ‘New Provisions Under the New Income Tax Act 1961 to be Effective from Assessment Year 2018-19 & 2019-20’ on 19 April 2018 at MCCI.
The Chamber organized an Interactive Session on ‘New Provisions Under the New Income Tax Act 1961 to be effective from Assessment Year 2018-19 & 2019-20’ on 19 April 2018 with Chief Guest : Smt. Seema Khorana Patra, IRS, Principal Chief Commissioner of Income Tax, West Bengal & Sikkim, Govt. of India. CA Sanjay Bhattacharya and CA S. S. Gupta, Tax Advisors also addressed the Session.
Smt. Seema Khorana Patra informed the House that the Kolkata Office of the Income Tax Department had exceeded the target and garnered Rs. 41,000 cr. during 2017– 18. She expressed satisfaction that 75% of collections came grom voluntary compliance i.e. TDS and self–assessment. She pointed out that the Department scrutinizes only 1% of returns and 99% returns are accepted from the trust reposed on the assessees. She said that the tax exemption refunds are now getting verified by enternal agencies as the system is now linked with banks, MCA and other agencies. She further informed that a new system of assessment is now being considered to be reday by 2022.
CA Sanjay Bhattacharya explained in details some of the amendments in rates of tax for individuals and companies, house property and also on long term capital gains.
CA S S Gupta gave a detailed account of the key amendments brought under Finance Act 2018 in the rates of tax, stamp duty relaxation, long term capital gains, penalty provisions, non–filers problems and other issues.
********************* Seminar on “Cyber Security : Threats Towards Corporates” on 20 April 2018 at MCCI Conference Hall
The Chamber organized a Seminar on “Cyber Security : Threats Towards Corporates” on 20 April 2018 at its premises. The Seminar was addressed by : o Shri Santanu Chattopadhyay, Officer–in–Charge, Cyber Police Station, Kolkata Police, o Shri Sandeep Sengupta, Cyber Audit Expert & CEO, ISOAH Data Securities Pvt. Ltd. & o Smt. Sanghita Mukherjee, Lawyer, Cyber Crime.
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Addressing the members, Shri Santanu Chattopadhyay mentioned that cyber attacks could occur any moment. All the famous organizations like Apple, Microsoft, Google and others had been hacked. He observed that in 2017, one cyber attack was reported every 10 minutes. The number of cases at Cyber Police Station, Kolkata Police, Lalbazar, increased from 6 in 2010 to 156 in 2016 and 148 in 2017. He recommended that every business entity should go for cyber audit at least once a year.
Shri Sandeep Sengupta was of the opinion that both the large and the small companies are equally vulnerable to cyber attack, with SMEs finding it difficult to recover money loss and the large companies finding it difficult to recover reputation. However, the level of hackers would depend upon the asset level of the organization to be hacked. He felt that a smartphone would be easier to hack than a laptop or a desktop. Through the smartphone, the hacker would get access to the contact list, emails, personal information and even the bank account details, these days. He advised Quarterly Security Audit, including audit of software, Data Center, Physical Security, HR process and not to go for shared data.
Focusing on the legal implications, Smt. Sanghita Mukherjee said that law performs two vital roles: enhancing cyber security preparedness and protecting consumers.
Earlier, in his Welcome Address, Shri Vishnu Kumar Bhandari Chairman, Standing Committee on IT & Communication, MCCI said that India ranked third globally facing cyber threats in 2017; West Bengal ranked 8th in 2016 with 3.9% share of incidence of cyber crime, in India. He felt that cyber crime had become more organized these days and the demographic pattern shows people involved mostly belong to the age bracket of 18–35 years. The programme ended with a hearty Vote of Thanks by Shri Prakash Agrawal, Member, Standing Committee on IT & Communication of the Chamber. **************** Workshop on ‘Presentation on the Companies Amendment Act, 2017 & An insight on Kotak Committee recommendations accepted by SEBI’, on 21 April 2018 at MCCI Conference Hall
The Chamber jointly with Institute of Company Secretaries of India, EIRC organized a Workshop on 21 April 2018 at MCCI, on ‘Presentation on the Companies Amendment Act, 2017 & An insight on Kotak Committee recommendations accepted by SEBI’. The Workshop was addressed by Shri Taposh Roy, Company Secretary, Vesuvius India Ltd. and CS Arundhati Bose.
Shri Taposh Roy said that the Amendment Act 2017 addressed a few difficulties in the implememtation, for achieveing better harmonization with other statutes such as the Reserva Bank of India Act, 1934 and regulations made thereunder. It also attempted to rectify the inconsistencies of Companies Act, 2013. However, a lot more needs to be done in terms of ease of doing business, he felt. He explained in details the changes in definitions of Networth, Director’s Appointment, penalty provisions, relations party issues and others.
In her Theme Presentation, Smt. Mamta Binani, Chairperson, Corporate Law & Governance Standing Committeee, MCCI and former National Ptresident, ICSI informed that
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28 on 28th March 2018, SEBI had accepted several recommendations made by the Uday Kotak Committee on Corporate Governance, for improving standards of corporate governance in listed companies. As per recommendations, India Inc. should be much more transparent making more disclosures, than what they do now. CS Arundhati Bose made a Presentation on the Recommendations accepted by SEBI from Kotak Committee Report.
Earlier, Shri M C Das, Deputy Director General of the Chamber welcomed the Speakers and also thanked ICSI for organizing jointly this value added programme. *****************
Interactive Session with H. E. Mr. Adam Burakowski, Ambassador of Poland in India on ’Doing Business with Poland’ on 23 April 2018 at the Conference Hall of MCCI.
MCCI organised an interactive session with H.E. Mr. Adam Burkowski, Ambassador of Poland in India on ’Doing Business with Poland’ at the Chamber premises on 23 April 2018 at MCCI Conference Hall. Addressing the House, Mr. Burakowski said that Poland is an attractive investment destination and the investment support ecosystem comprises of 14 Special Economic Zones and local tax relief. The 14 SEZs in Poland had received investments of USD 27 billion by 2016 and 287,000 jobs had been created. Poland’s GDP grew by 4.2% in 2017 which was considerably higher than the EU average growth of 2.4%. He mentioned that about 121 Indian companies operate in Poland and Indian investments in Poland amount to USD 3 billion and include, among others, Videocon, TCS, Infosys, HCL Technologies and Wipro. Possible areas for India–Polish JV would include energy & clean technologies, mining, food & food processing, defence and R&D. India–Polish cooperation may extend to the environmental protection sector in the form of waste water treatment, hazardous waste treatment and renewable energy sources. Poland selected West Bengal as a top priority and a high level Polish delegation attended BGBS 2018 and an agreement was signed between the Governments of Upper Silesia and West Bengal.
Mr. Mohan Goenka, Hony. Consul of Poland in Kolkata mentioned that Poland is a beautiful country with warm people, Poland which has a lot to offer to India.
Mr. Arun Kumar Garodia, Regional Chairman, Eastern Region, EEPC India pointed out that India & Poland have a strong defence relationship. Polish firms have invested USD 600 million in India whereas Indian firms have invested USD 3 billion in Poland. The engineering sector in India is upgrading fast and ‘Make in India’ provides a good opportunity for Polish firms in India.
Earlier, in his welcome address Mr. Vishal Jhajharia, Senior Vice President, MCCI said that bilateral trade has grown almost seven-fold over the last ten years. In 2016, bilateral trade was USD 2.76 billion [Indian exports – USD 2.1 billion; Indian imports – USD 0.66 billion]. Both countries had, in June 2015, set a target to double their bilateral trade by the year 2018. Poland is currently actively exploring the expansion of trade ties with India.
The session ended with a hearty vote of thanks offered by Mr. Sanjib Kothari, Co- Chairman, Standing Committee on Foreign Trade, MCCI. *************************
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Interactive Session with Mr. Ma Zhanwu, Consul General, The Consulate General of the People’s Republic of China in Kolkata on ’Doing Business with China’ on 25 April 2018 at MCCI. MCCI organised an Interactive Session with Mr. Ma Zhanwu, Consul General of People’s Republic of China in Kolkata on ’Doing Business with China’ on 25 April 2018 at the Chamber premises. Mr. Ma Zhanwu said that Chinese investments in India grew 700% in 2016 which dropped to a growth rate of 20% in 2017. The huge trade deficit between China and India can be tackled if more Chinese companies decide to manufacture in India. The partnership between Indians and Chinese should lead to a win-win situation for both parties. India and China together consist of 35% of the world’s population and if they cooperate, they can make a big difference to the world. He advised entrepreneurs to visit China and seek local business partners. He showed a short film on the China International Import Expo to demonstrate China’s commitment to globalization and balanced trade.
Earlier, in his Welcome Address, Mr. Ramesh Agarwal, President, MCCI said that the growing trade deficit has ballooned to USD 52.9 billion during the first ten months of last fiscal year. In order to address the high trade deficit, India has repeatedly sought market access to a broader group of products. The session ended with a hearty vote of thanks offered by Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. ***************** Interactive Session with Dr. Craig Hall, Consul General United States of America in Kolkata and Mr. Jonathan Ward, Principal Commercial Officer, US Consulate General in Kolkata on 2 May 2018 at the Conference Hall of MCCI
The Chamber organized an Interactive Session with Dr. Craig Hall, Consul General of the United States of America in Kolkata and Mr. Jonathan Ward, Principal Commercial Officer, Consulate General of the United States of America in Kolkata on 2 May 2018 at MCCI. Stressing on the bilateral economic relationship between India & USA, Dr. Craig Hall said that around 600 US companies operate in India at present. While USA is India’s largest export destination while from US perspective, India is its 18th largest market. He said that US is concerned about weak copyrights in India and challenges to patents in agriculture and pharma. India received USD 5.6 billion in 2017 under Generalised System of Preferences (GSP). He spoke about huge US investments in Indian defence and highlighted several success stories of Indo–US collaboration e.g.Tata Boeing Aerospace, General Electric and Sikorsky.
Mr. Jonathan Ward said that India is one of the fastest growing sources of FDI in the US. and FDI from India to USA stood at USD 12.1 billion in 2016, the important sectors being Software and IT services, Pharmaceuticals, Industrial Machinery, Plastics and Metals. Earlier, in his Welcome Address, Mr. Ramesh Agarwal, President, MCCI said that India’s merchandise exports to USA was 42.24 billion USD in 2016-17, Indian imports from US stood at 22.31 billion USD in 2016-17. IT sector has been the leading driver of India’s services exports. He expressed concern over the H4 visa restriction on employment of spouses. The session ended with a hearty vote of thanks offered by Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. ****************
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MCCI FinTech Forum 2018 : FINTECH: Rewriting the Rules of Finance 12 May 2018 at Galaxy, Park Hotel, Kolkata
The Chamber organized MCCI FinTech Forum 2018 on 12 May 2018 at Park Hotel, Kolkata. The Forum was addressed by Shri Debashis Sen, IAS, Additional Chief Secretary, Department of IT & Electronics, Govt. of West Bengal as the Guest of Honour. Inaugural Session was ‘Re-aligning Financial Services through FinTech’. The Session was addressed by the following speakers: o Shri Debashis Sen, IAS, Additional Chief Secretary, Department of Information Technology & Electronics, Government of West Bengal and Chairman & Managing Director, Housing Infrastructure Development Corporation Ltd. – Guest of Honour o Shri Pawan Kumar Bajaj, MD & CEO, United Bank of India o Shri Ashish Kumar Chauhan, MD & CEO, BSE Limited o Shri Shashank Sharma, Head – Strategic Alliances, Resurgent India Ltd.
Dwelling on the Inaugural Theme of “Re-aligning Financial Services through Fintech” and on the huge opportunities of the Fintech sector, Shri Debashis Sen, IAS, ACS, IT, Govt. of West Bengal urged upon the Fintech community to reach out to the unbanked sector and the last segment of the society to ensure financial inclusion. He said that the progress made in Aadhaar, GST and Digital money is unparallel in the world. He referred to a study made by Mckenzie, which mentioned that the Centre of gravity for the financial world would shift towards Asia from US & Europe. The youth must be encouraged to set up start-ups
Pointing out the huge role of fintech sector in scrutiny of application, loan sanction, monitoring and loan recovery, Shri Pawan Kumar Bajaj mentioned that banks are using technology to disburse many more loans than in the past, without creating NPAs as FinTech allows rapid processing of loans. FinTech enables banks to efficiently monitor their assets.
Shri Ashish Chauhan said that FinTech is not about creating money but more about how to improve the lives of the weaker sections of society. He was of the opinion that in the next 40 years, 70% of wealth would be created globally by the young population. He mentioned that BSE generates a trading volume of Rs 20 lakh cr. in a good average day.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, Senior Vice President, MCCI referred to a KPMG report, which states that the transaction value for the Indian FinTech sector was about $33 billion in 2016 which is expected to reach $73 billion by 2020. He mentioned about a Centre of Excellence on Cyber Security being set up in Kolkata and a FinTech hub being planned in New Town. The Inaugural Session ended with hearty Vote of Thanks by Shri Smarajit Mitra, Chairman, Standing Committee on Banking, Finance and Insurance, MCCI.
Session I : ‘Integrating FinTech, InsureTech & MFtech in India’s journey of Digital transformation’. The Session was addressed by the following speakers: o Shri Avanish Goel, COO, CAMS Insurance Repository Services Ltd. – Moderator
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31 o Prof. Bimal Roy, Head – Centre for Cryptology & Security, Indian Statistical Institute o Shri Tanwir Alam, Founder and CEO, Fincart o Shri Sudhir Srivastava, Zonal Head – East, Shriram Life Insurance Co. Ltd. o Shri Jaydeep Deshpande, Alliances and Partnerships, Airpay Payment Services
Shri Avanish Goel who moderated the Session commented that the average customer is digital savvy at present. The Jan Dhan–Aadhaar–Mobile trinity provides an opportunity to adopt new technologies in future. Prof. Bimal Roy spoke about secure & safe communication from the senders’ and recipients’ side, and control of vulnerability of the system to provide cyber security in the fintech sector. Cyber security experts have to ensure that a FinTech system will not wilt under a cyber attack. Shri Tanwir Alam said that each and every value chain will get disrupted in future with greater use of artificial intelligence and data analytics. Technology will be adopted by not only the wealthy but also by those who are 50 to 60 years old. Shri Sudhir Srivastava spoke on ‘Revolutionising Insurance for Consumer through InsureTech’. Progress is exemplified by use of Aadhaar based KYC. IRDAI has set a goal of issuing insurance policies in 2 days time and it has promoted mechanisation in the industry. Shri Jaydeep Deshpande spoke on ‘FinTech–A competitor or a Partner’. He explained that Airpay Payment Services provides omni channel payment solution for banks. Although digital transactions are increasing, card transactions have dropped.
Session II : Changing the Face of Financial Services in India: Scaling New Frontiers The Session was addressed by the following speakers: o Shri Shashank Sharma, Head – Strategic Alliances, Resurgent India Ltd. - Moderator o Shri Anand Kumar Bajaj, Founder & CEO, PayNearby Technologies o Shri Abhishek Rungta, MD & CEO, Indus NetTechnologies o Shri K. P. Saha, MD, Senrysa Technologies (P) Ltd. o Shri Vinaikrishnan Nair,VP–Head Insurance Service Delivery, SBI General Insurance Co. Ltd o Shri Vibhor Tandon, AVP, Multi Commodity Exchange of India Ltd.
Shri Anand Kumar Bajaj spoke on ‘Democratising FinTech at Retailer Nearby.’ The growing volume of e-commerce is a source of worry for brick and mortar retailers. Shri Abhishek Rungta spoke on ‘Innovating for Finance & Insurance Industry.’ Innovation needs investment of time and people and is characterised by multiple expertise, scale to experiment, diversity of exposure, agility, knowledge, insight & customer involvement. Shri K. P. Saha said that although most of the people use payment apps these days and the aggregate volume of transactions on payment apps is huge at present, most people do not have full confidence in digital banking. Shri Vinaikrishnan Nair spoke on ‘What’s Changing in Insurance in the FinTech world?’. By 2020, there will be as many as 3 million to 4 million apps. Shri Vibhor Tandon spoke on ‘Commodity Futures and Price Risk Management.’ The financial sector has been positively impacted by technology in the form of higher efficiency and greater reach. ****************
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Interactive Session with H.E. Mr. Michael A. N. N. Oquaye Jnr., High Commissioner of Republic of Ghana in India on ’Doing Business with Ghana’ on 14 May 2018 at the Conference Hall of MCCI.
MCCI organised an Interactive Session with H.E. Mr. Michael A. N. N. Oquaye Jnr., High Commissioner of Republic of Ghana in India on ’Doing Business with Ghana’ at the Chamber premises on 14 May 2018. The High Commissioner was accompanied by Mr. Aaron Nuamah Sintim, First Secretary, Consular & Welfare and Mr. Michael Harry Ansah, Special Aide of the High Commissioner of Ghana. Mr. Oquaye Jnr said that Ghana Investment Promotion Centre (GIPC) would provide all sector specific assistance for establishing any unit. He informed that corporate taxes for investors would depend on the nature of industries; pharma invites 25 p.c. corporate tax rate. He mentioned that trained manpower is needed in the healthcare sector.
Mr. D. P. Tantia, Hony. Consul of Ghana in Kolkata mentioned that Ghana, the first independent country in Africa, is seeking investment in the bio-mass segment. Tourism constitutes about 5 p.c. of the economy and Indians can explore setting up hotels in Ghana.
Earlier, in his Welcome Address, Mr. Ramesh Agarwal, President, MCCI said that the total trade between the two countries amounted to USD 2620.82 Million in 2016-17, with India’s exports to Ghana being USD 682.27 million, and India’s imports from Ghana being USD 1938.54. Indian companies have invested in more than 600 projects with total investment of USD 998 million between September 1994 and September 2014 making India the second largest foreign investor country in Ghana.
The session ended with a hearty vote of thanks offered by Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI.
**************** Interactive Session on “Relevance of Income Tax Settlement Commission in Current Scenario” on 15 May 2018 at MCCI Conference Hall
The Chamber an Interactive Session on “Relevance of Income Tax Settlement Commission in Current Scenario” on 15 May 2018 at MCCI Conference Hall with Mr. Dinesh Kumar Gupta, Vice Chairman, Additional Bench, Kolkata, Income Tax Settlement Commission (IT & WT). The Session was chaired by Mr. Ramesh Agarwal, President, MCCI.
Mr. Dinesh Kumar Gupta pointed out that there is lack of awareness about the functioning of Income Tax Settlement Commission. He said that the Commission has a role like that of an arbitrator and its decisions are conclusive & final. He also spelt out the details as to who can approach the Commissiona and how to approach.
Mr. Syed Mohd. Ashraf, Member, Additional Bench, Kolkata, IT & WT and Mr. Jinesh S Vanzara also interacted with the members and discussed about the benefits of approaching the Commission for settlement of taxes. ****************
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Interactive Session on “Bilateral Trade between India & Bulgaria” with H.E. Mr. Petko Doykov, Ambassador, Bulgaria on 17 May 2018 at MCCI Conference Hall
The Chamber organised an Interactive Session with H.E. Mr. Petko Doykov, Ambassador of Bulgaria in India on “Bilateral Trade between India & Bulgaria” on 17 May 2018 at its premises. Addressing the House, Mr Doykov urged on stronger India – Bulgaria Co-operation. The total bilateral trade between the two countries between April, 2017 & January, 2018 was US $ 265.67 Million, of which India’s exports to Bulgaria was US $ 143.52, and India’s imports from Bulgaria was US $ 122.15 Million. Though Bilateral trade between the two countries has almost doubled during 2012–2016, there is still considerable untapped potential keeping in view Bulgaria's geo-strategic location, EU membership and India's strong economic growth and profile. Mutually beneficial opportunities exist for trade & investment in sectors like: Agriculture & Food Processing, IT, Pharmaceuticals, Biotechnology, Manufacturing, Tourism & Hospitality, Infrastructure, Real Estate & Construction etc., he added. Tourism sector can significantly drive mutual engagement, Ambassador Doykov said that Tourism & Culture can really create strong mutual synergies between the two countries.
Mr. Vishambhar Saran, Hony. Consul of Bulgaria in Kolkata talked about the various comparative advantages that the Bulgarian economy can offer to Indian and global investors.
Earlier, in his Welcome Address, Mr. Vivek Gupta, MCCI Vice President said that the Chamber can play a key role in bringing Bulgarian businesses into Bengal and vice versa. Sectors like Tourism, Agro & Food Processing, IT, Pharmaceuticals, Biotechnology etc can play key role in strengthening bilateral economic co-operation.
The session ended with a hearty Vote of Thanks by Mr. Sanjib Kothari, Co– Chairman, Standing Committee on Foreign Trade, MCCI. ****************
Interactive Session on ‘Eastern Railway – The Way Forward” Shri Harindra Rao, General Manager, Eastern Railway on 18 May 2018 at MCCI Conference Hall
The Chamber organised an Interactive Session with Shri Harindra Rao, General Manager, Eastern Railway on “Eastern Railway – The Way Forward” on 18 May 2018 at its premises. The Session was also attended by Shri S K Das, Additional General Manager, Eastern Railway.
Addressing the House, Shri Harindra Rao said that Eastern Railway’s total freight loading fr the year 2017–18 was 62.12 MT, which was 1.8 MT higher than the previous year, registering a growth of 2.97%. coal loading during the financial year also registered a growth of 6.74%. Till 31st 2018, 6640 wagons were loaded over Eastern Railway jurisdiction, which is highest everloading on a single day. 71 MT freight has been targeted for 2018–19. Coal is the major item carried, other major items are stome chiops, steel and cement. He said that
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Eastern Railway, the 2nd largest railway network serving 3 states West Bengal, Jharkhand and Bihar has a route of 2,686 kms, out of which 1,900 are in Bengal. At present Eastern Railway is running 1,976 trains up and down per day carrying 33 lakh passengers daily. In 2017–18, Eastern Railway carried 122 crores of passengers and earned a revenue of Rs. 2,671.54 cr. ER has spent Rs. 2692.95 cr in 2017–18 and the buget has been increased to Rs 3574.8 cr in 2018–19. Eastern Railway has undertaken a series of develoment projects for the betterment of their services and will soon purchase the wagons to overcome the shortage under which it has been reeling for a long time. In a move to overcome the problem of shortage of wagons, Eastern Railway has been empowered by the Railway Board to ourchase wagons on its own.
Safety of passengers is the topmost priority, Shri Rao noted. An amount of Rs. 175 cr has been earmarked for station development. In order to provide better passenger amenities, Howrah, Sealdah and Asansol will be redeveloped. Besides, creating provisions for more toilets and facilities for drinking water, high level platforms and escalatoirs will be installed.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President, MCCI enquired about passenger amenities & services and station management. He also commented on quality of food served by the catering agents and health hazard of passengers due to poor quality of food. He urged on complete elimination of unmanned level crossing across all states. The session ended with a hearty Vote of Thanks by Shri Lavesh Poddar, Chairman, Standing Committee on Logistics, Transport & Warehousing, MCCI. **************** 1st Workshop on Excel Analytics & Powerpoint Presentation Skills on 19 May 2018 at MCCI Conference Hall
The Chamber organized a Workshop on Excel Analytics & Power Point Presentation Skills on 19 May 2018 at its premises. The Workshop was attended by good number of members and select non–members.
Excel Analytics was addressed by CA Sanjib Sanghi, Secretary, Co Chairman, Standing Committee on IT & Communication, MCCI and EIRC of ICAI. The Focus was on How to Save Hundreds of Hours using Excel. Shri Sanghi gave hands–on training on Navigation, Find–Replace, Filter, Paste–Special, Formulae including Sum, Autosum, Max, Min, Average; Features like Transpore, Cell referencing & GoTo Special; Pivot, Raw Data for Pivot, Pivot Dash Board
The Session on Powerpoint Presentation Skills was addressed by CA Risabh Pugalia, Founder, Excel Next, Mumbai. He focused on “How to use PowerPoint 5x faster, add impactful visual elements and craft the storyline”. He gave hands–on training on : Creating Magnifier Effect; Organizing Text & Picture Layout, including SmartArt & Setting colors; Convert Font symbols to editable shapes; Table Formatting Tricks; Making Tables & Illustrations Impactful to make a Table tell a Business Story ****************
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MCCI Destination Haldia Forum 2018 “Spearheading Sustainable & Inclusive Growth” on 25 May 2018 at Satish Samanta Trade Centre Auditorium, Haldia.
The Chamber organized MCCI Destination Haldia Forum 2018, the 2nd initiative on Haldia, on 25 May 2018 at Satish Samanta Trade Centre Auditorium, Haldia. The Forum was a part of the Outreach programmes of the Chamber, with a mission to reach out to Tier II & Tier III towns in the districts of the state.
Inaugural Session – “Spearheading Sustainable & Inclusive Growth” The Inaugural Session was addressed by the following speakers : Shri Suvendu Adhikari, Hon’ble Minister for Transport, Govt. of West Bengal & Chairman, Haldia Development Authority as the Chief Guest Shri G Senthilvel, Deputy Chairman, Haldia Dock Complex Shri C K Tiwari, Executive Director, Indian Oil Corporation, Haldia Refinery Shri V Solomon Nesakumar, IPS, Superintendent of Police, Purba Medinipur
Addressing the Forum as the Chief Guest, Shri Suvendu Adhikari spoke about the growth potential of Haldia, in which more than Rs 50,000 cr. had already been invested by the private investors. He referred to the industry friendly atmosphere in Haldia where strikes were not allowed. He mentioned about increasing use of industrial safety measures, including increasing use of helmets. He spoke about the recent initiatives in Haldia, e.g. setting up of a Central Bus Terminus, a Rs. 4 cr. project and a 50–bed trauma care centre. Shri Adhikari invited the business community to invest in Haldia for further development as also in CSR activities for beautification and making the township clean and green. The Minister assured all support to the industrialists. He expressed concern that Haldia Dock Complex had been earning profits, which was being taken out of this area to be given to Kolkata Port Trust. He said that 600 acres of land area available. 200 acres of land allotted to IOCL, Haldia. HDA had received 8 new proposals from IOCL, East India Packaging Pvt. Ltd. and others.
Shri G Senthilvel said that due to huge modernization programmes at HDC, there had been a significant growth in total volume and value. HDC had experienced a growth of 18.62% in total volume last year. Shri C K Tiwari observed that in this huge growth story of Haldia, the need of the hour would be to join hands together involving the districts, for further development. He spoke about the target of supplying BS by 2020, he said that the Phase I had been completed. Shri V Solomon Nesakumar pointed out that Haldia and its outskirts had always been a safe and crimeless area with adequate security arrangements, with no industrial dispute, no loss of mandays and no lawlessness.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, Senior Vice President of the Chamber said striving towards a sustainable and inclusive growth, the Chamber had spread its wings towards interactions at the ground-level in the districts with local Chambers of Commerce, local administration, and local entrepreneurs.
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The Inaugural Session ended with a hearty Vote of Thanks by Shri Lavesh Poddar, Chairman, Standing Committee on Infrastructure & Logistics, MCCI.
Session II : “Growth Churners for Haldia : Oil, Petrochemicals, Downstream Industries & MSMEs ” Speakers : Shri C K Tiwari, Executive Director, Indian Oil Corporation, Haldia Refinery Shri Chandan Sengupta, Senior VP & Head–Marketing & Commodity Business, Haldia Petrochemicals Ltd. Shri N N Mishra, V P & Dy Plant Head, IVL Dhunseri Petrochem Industries Pt. Ltd. Shri Ananda Gopal Maity, President, Confederation of Purba & Paschim Medinipur District Chamber of Commerce & Industries;
Shri C K Tiwari, ED, IOC, Haldia said that 4th in the chain of 10 operating Refineries of IndianOil, Haldia Refinery is one of the two refineries of IndianOil Group Companies producing Lube Oil Base Stocks (LOBS). Shri Chandan Sengupta said that adoption of Plasticulture would address the problems of irrigation piping, Pond & canal lining, drip irrigation, sprinklers, mulch film, nursery bags, crop protection nets, leno bags, crates and bins. Shri N N Mishra referred to PET Global scenario and said that regarding market segment for PET in India, non–food items accounted for 37%, while water/ hotfill/ other drinks accounted for 30%, CSD for 22%, food items 10% and Sheet 1%. Shri Ananda Gopal Maity observed that although Haldia has become an educational and health hub, MSME units in the district were generally confined to either trading units or very small firms, which needed to change.
Session III : “Smart City of Haldia : Education, Health & Services Sector” Speakers : Shri Lavesh Poddar, Chairman, Standing Committee on Infrastructure & Logistics, MCCI – as Moderator Prof. M N Bandyopadhyay, Director, Haldia Institute of Technology Shri Udayan Mukherjee, Director & Head, Central Institute of Plastics Engineering & Technology (CIPET), Haldia Dr. Gouri Shankar Keshari, Professor, ICare Institute of Medical Sciences & Research and Dr. B C Roy Hospital, Haldia
Prof M N Bandyopadhyay observed that a smart city should be based on the right mindset of the people with an intention of knowledge updation and sharing of the same. Education had a huge role in developing the right mindset. Shri Udayan Mukherjee said that keeping in view the rapid growth of Plastics & its Allied Industries in and around Haldia, and there is huge need for skilled manpower. Dr. Gouri Shankar Keshari felt that prevention of diseases was more important than medical treatment. He requested the industry fraternity of Haldia to raise CSR activities towards further development of Haldia. *****************
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Seminar on ‘GST -The Road Ahead : Challenges and Opportunities’ with Shri Arun Goyal, IAS, Special Secretary, GST Council & Project Monitoring Group of PMO on 28 May 2018 at MCCI Conference Hall
The Chamber MCCI organized a Seminar on ‘GST -The Road Ahead : Challenges and opportunities’ on 28 May 2018 with Shri Arun Goyal, IAS, Special Secretary , GST Council & Project Monitoring Group of PMO as the Chief Guest. Shri Arun Goyal spoke about the initial challenges in implementation of Good & Services Tax (GST). The major challenge was to have clear division of power to collect by the Centre and the States, as also to empower the Centre and States to concurrently levy and collect GST (Dual GST). States did not want to lose their power towards taxation. To resolve the potential Revenue loss to the states from introduction of GST has been another major issue. This has since been decided to compensate the loss of revenue for 5 years with 14% nominal growth. He said that automatic refund process is also being thought of besides provision of creating E-wallet for exporters, simplification of Returns.
Shri Bijoy Kumar Mallick, IRS, Commissioner, CGST & CX, Haldia Commissionerate, informed that West Bengal is leading in terms of number of GST registrations and collection of GST. Shri Devendra V. Nagvenkar, IRS, Commissioner, Kolkata North Commissionerate said that compliance cost to the small players should be lowered. He said that once e–Wallet is developed, it would take care of refund issues. At present, 75 lakh transactions are being reported daily in the GST portal. Shri Adesh Kumar, Additional Commissioner, Directorate of Commercial Taxes, Govt. of West Bengal informed that till then, about 6.50 lakhs dealers have been registered in West Bengal and 62789 dealers registered for generation of E-Waybill.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President MCCI expressed concern over non-availability of data on sectoral contribution of GST, which could help in policy planning. Shri Birendra Agarwal, Past President, MCCI in his Theme Presentation voiced concern over the difficulties faced by the small players in transportation and storage due to e- Waybill and also on absence of any provision for reporting shortage and wastage in job work. ****************** Special Session with Smt. Smriti Irani, Hon’ble Minister for Textiles, Govt. of India on ‘Recent Developments in the Textile Industry & The Road Ahead’ on 31 May 2018 at Hotel Oberoi Grand, Kolkata
The Chamber organized a Special Session with Smt. Smriti Irani, Hon’ble Minister for Textiles, Government of India on “Recent Developments in the Textile Industry & The Road Ahead” at The Oberoi Grand, Kolkata on 31 May 2018 at Hotel Oberoi Grand, Kolkata. Textile sector had been on the growth track in the state with West Bengal contributing more than 5% to the national segment with a high potential in India, “Textile flag should be kept high and flying”, said Smt. Smriti Irani, addressing the members. Emphasizing on the need to have a “Brand India Cotton”, the Hon’ble Minister requested the domestic cotton industry to come up with a proposal regarding the branding, particularly for the export market. She expressed concern that despite its high quality, Indian Cotton never had a brand of its own, unlike US,
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China and Egypt and felt that the branding would create a niche market and sell at a higher premium price globally. She referred to the Amended Technology Upgradation Fund Scheme (ATUFS) for the textile and garment sector, introduced in Dec 2015, which approved a total allocation of Rs 17,822 crore till 2022 to clear pending claims as well as roll out the new scheme. This had been the largest amount sanctioned so far in the textile sector, in the history of India, she noted. 90% of the cases had been solved so far and those kept pending were mostly because of lack of proper supporting documents. The Rs 6,000-crore special package for Apparel & Made up Garments announced in 2016, generated extra investment of around Rs 2,500 cr. additional employment of around 1 lakh in the first twelve months of its rollout, she said. Remission of State Levies had a positive impact on the garment industry.
Focusing on the Jute industry in the state, the Hon’ble Minister felt that West Bengal had the potential of being the largest diversified jute exporter. She observed that the industry did not “gallop” in the state as the quality of raw jute was not fine enough for diversification, posing a major challenge for the industry. She said that certified jute seeds would be distributed for farmers by National Seeds Corporation through Krishi Vignan Centre and other Central & State Govt. authorities. This would enhance crop quality and productivity increasing farmer income, which in turn would bring in technological upgradation in jute farming.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, Senior Vice President of the Chamber spoke about the of pro-active steps in recent years to boost the Industry including allowing 100% FDI in the Textiles sector through the automatic route, revised rates for incentives under MEIS for two subsectors of Textiles Industry, as also ATUFS.
In his Theme Address, Shri Sanjay Kumar Jain, Chairman, Standing Committee on Textile & Jute, MCCI, spoke about a reverse migration from Tirupur and other areas of Tamil Nadu to West Bengal for the last 5–7 years. He felt that Knitwear should be treated at par with Powerloom and requested for more support from the Ministry. He requested the Government to increase the import duty on manmade fibres, spun yarn, garments and all types of fabrics from 10% to 20% to give protection to the local units. The Session ended with a hearty Vote of Thanks by Shri Srivatsa Kajaria, Co– Chairman, Standing Committee on Textile & Jute of the Chamber.
****************** Interactive Session with Shri Om Prakash Rawat Chief Election Commissioner, Election Commission of India on ’Electoral Integrity and Role of Money in Elections’ on 2 June 2018 at the Conference Hall of MCCI.
The Chamber organised an Interactive Session with Shri Om Prakash Rawat, Chief Election Commissioner, Election Commission of India on ’Electoral Integrity and Role of Money in Elections’ at the Chamber premises on 2 June 2018. Shri Rawat said that EVM has been made an easy ‘scapegoat’ by political parties. In fact, India’s conduct of free and fair elections is admired all across the world. Tampering of election results is fake news as there is 100% matching of hard copy of voter slips with electronic records. Since July 2017, all elections have
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It is creditworthy that despite such a large electorate, EC is able to publish results in just a few hours. In 2014, Harvard University and Sydney University conducted a survey on elections held across the world, in which India did well in 9 out of 11 indicators and it ended with an overall score of 59 out of 100. India’s position slipped somewhat due to its performance on two indicators : money and news (including fake news and social media). The EC is focusing on de-listing of political parties rather than de-registering them. Criminalisation of politics is an issue of concern and in case of punishment of two years of imprisonment or more, the person should be barred from politics for life.
Dr. Aariz Aftab, Chief Electoral Officer, West Bengal Home Department, Election Branch noted that the Election Commission has well structured rules and laws for implementation. Earlier Shri Vishal Jhajharia, Senior Vice President, MCCI in his welcome address enquired if the election contest can be limited to fewer political parties for Lok Sabha and State Assembly elections. He also raised issues such as adherence to the Model Code of Conduct, criminalisation of politics, issue of Electoral Bonds, minimum academic qualifications.
The session ended with a hearty vote of thanks offered by Shri Deepak Jalan, Past President, MCCI. ****************** Interactive Session with Shri Anil Swarup, IAS, Secretary, Department of School Education & Literacy, Ministry of Human Resource Development, Govt of India on ’Creating a robust, just, reliable and student friendly public examination system in India’ on 4 June 2018 at the Conference Hall of MCCI.
MCCI organised an Interactive Session with Shri Anil Swarup, IAS, Secretary, Department of School Education & Literacy, Ministry of Human Resource Development, Government of India on ’Creating a robust, just, reliable and student friendly public examination system in India’ at the Chamber premises on 4 June 2018. Shri Anil Swarup said that the ground reality is that students who do well in school examinations are in high demand from IITs and foreign universities. He called this the ‘demand suction’. The dilemma is that we are creating robots who can get into IIT. He said that teachers are the pivots of the education system. Emphasis is being given to training of teachers. National Council for Teachers Education (NCTE) has sent notices to such questionable colleges. A bio-metric system has been introduced to ensure attendance of teachers. Teachers are well paid these days, even in remote areas. Teachers must be recognized in order to motivate them, social media is being used for the purpose. Earlier, Rajasthan ranked poorly in most educational measures but it has moved toward the top of the list of states after it attended to teachers, he added. He referred to a digital school conceptualized by Shri Sandeep Goond in Maharashtra,
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The Session was also addressed by Swami Muktidananda, Member, Governing Body, Ramakrishna Mission and Head, Advaita Ashrama; Smt. Seema Sapru, Principal, The Heritage School and Smt. Mukta Nain, Director, Birla High School.
Swami Muktidananda said that today, love for marks is overriding love for knowledge. Examinations do not measure the worthiness of a child. Smt. Seema Sapru spoke about student led report cards where the student sits with parents and teacher to explain what he / she has written in the examination. There there should be a compulsory course on social media etiquette and mandatory social service. Smt. Mukta Nain said that India would benefit if there was only one board in the country, which would be a national board. Cheating in examinations has become high tech with usage of mobiles and other equipment. Invigilation standards should be improved.
Earlier, Shri Vishal Jhajharia, Senior Vice President, MCCI in his welcome address said that in a bid to improve the quality of education, National Achievement Survey (NAS) was developed by the Central Government to assess students based on their class/subjects and the recommendations have been included in the Right to Education (RTE) rules. With more than 70 p.c. of schools being government-aided, this will go a long way in improving the quality of education. Shri Samir Saraff, Chairman, Standing Committee on Education & Skill Development, MCCI in the Theme Address said that the examination system is creating a marks based society instead of a knowledge based society. The session ended with a hearty vote of thanks offered by Shri Samir Saraff, Chairman, Standing Committee on Education & Skill Development, MCCI. *************
MCCI East India Energy Forum 2018 ‘Eastern India Power Sector: Creating a Vision for the Future’ 8 June 2018 at The Lalit Great Eastern Hotel
The Chamber organized MCCI East India Energy Forum 2018 on 8 June 2018 at Hotel Lalit Great Eastern, Kolkata. Shri Sobhandeb Chattopadhyay, Hon’ble Minister for Power & Non Conventional Energy Sources, Government of West Bengal addressed the Forum as the Chief Guest.
Inaugural Session : Creating a Vision for the Future The speakers at the Inaugural Session were : Shri Sobhandeb Chattopadhyay, Hon’ble Minister for Power & Non Conventional Energy Sources, Government of West Bengal – Chief Guest Shri R. N. Sen, Chairperson, West Bengal Electricity Regulatory Commission Shri Rohit Dhar, Director Sales, Vikram Solar Limited Shri Arun Palit, President, Adhunik Power & Natural Resources Ltd Shri Devendra Goel, Managing Director, Lumino Industries Ltd
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Dwelling on the Inaugural Theme of “Creating a Vision for the Future”, Shri Sobhandeb Chattopadhyay said that West Bengal had been a power surplus state selling power to Bangladesh and other states in India. The “state is ready” to take a plunge in the power sector, he pointed out. The Budget allocation for power had increased from Rs. 494 cr. In 2011 to Rs. 2818 cr. in 2017–18. Consumer base had increased from 85 lakhs in 2011 to 1 cr. 81 laks in 2017 and 99.98% of domestic connection had been completed. Giving a vision for the future, he mentioned that stress had been put on quality of power, fault detection and segregation of connection given to domestic, industrial and agricultural sector. He spoke about curbing ATC and Transmission losses and installation of AB cables to track power theft. Govt. of West Bengal had received 5 coal mines from the Govt. of India and the Coal Mine in Birbhum is the 2nd biggest mine in the country. He attributed the rising price of power to the rising prices of inputs. Shri R N Sen said that stress had been given on reducing transmission losses (13.79%) and distribution losses (13.59%), fixed cost recovery & energy audit. Fuel cost has increased about 50% or 5~6% per annum while tariff has gone up marginally, in 5-6 years. Shri Rohit Dhar said that with an aim to making solar energy more accessible, viable and efficient, Vikram Solar deploys world class technology to design, install and commission benchmark solar projects globally. Shri Arun Palit mentioned that for sustainable growth in the power industry, It is a symbiotic relationship between users, Discom and generating companies. A sick Discom cannot exist with a strong generating company. Shri Devendra Goel said that Lumino is engaged in the manufacture of cables / conductors as well as Engineering, Procurement and Construction (EPC) projects. Earlier, in his Welcome Address, Shri Vishal Jhajharia, Senior Vice President, MCCI said that the Government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition in the country. Total installed capacity of power stations in India stood at 334,146.91 Megawatt (MW) as on February, 2018. Between April 2000 and September 2017, the power industry attracted USD 12.3 billion in Foreign Direct Investment (FDI), accounting for 3.44 per cent of total FDI inflows in India. The Inaugural Session ended with a hearty vote of thanks offered by Shri Kapil Thapar, Co-Chairman, Standing Committee on Power & Renewable Energy, MCCI. Session I: ‘Coal - The Mainstay of India’s Energy & Energy Security Mix’ The speakers at the Session were Shri V. K. Arora, Chief Mentor, KCT Coal Sales Ltd - Session Chairman Shri Tarun Mukherjee, GM – Environment, Coal India Limited Shri Debashis Basu, GM – HRD, Central Mine Planning & Design Institute Shri R. P. Ritolia, Advisor, India Power Corporation Limited Shri V K Arora stated that the present energy demand of the country is met by: Coal 54%, Oil 32%, Natural Gas 8%, Hydro 5%, and Nuclear 1%. Coal shall continue to be a major source of primary energy in times to come. Shri R. P. Ritolia mentioned that inefficient coal linkage in terms of location of sourcing mines and end use plants adversely impact cost of power generation. The heavy reliance on imported coal continues unabated. Shri Debashis Basu said that global energy markets are facing disruption which will change the energy mix. Complete removal of old energy sources such as coal is not foreseen.
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Shri Tarun Mukherjee said that development risks could cause coal production to be significantly lower than the potential and inadequate logistics infrastructure is an area of concern. Session II: ‘A leap towards sustainable power in Eastern India’ The speakers at the Session were Prof. Subhasis Neogi, School of Energy Studies, Jadavpur University - Session Moderator: Shri Debasish Das, Vice President – Regulatory, India Power Corporation Limited Shri Amitava Biswas, Member Secretary, West Bengal Electricity Regulatory Commission Shri Shyama Prasad Moitra, Chief Engineer – Planning & Engineering, Distribution, West Bengal State Electricity Distribution Company Limited Shri Rajib Kumar Das, Deputy General Manager (Planning), CESC Limited
Prof. Subhasis Neogi gave a technical presentation on ‘Energy Efficiency - an Approach Towards Energy Conservation’. He said that energy conservation is directed towards achieving optimised system energy efficiently. Shri Debasish Das said that the biggest opportunity in the power sector comes from the fact India has a per capita power usage of 1,122 units which is 4 times less than power consumption in China and 7 times less than consumption in Singapore. Shri Amitava Biswas said if consumers can build rooftop solar panels, then energy will be at the doorstep of consumer and many distribution problems will be overcome. Shri Shyama Prasad Moitra said that sustainable power means delivering power to each and every consumer base with less interruption, quality voltage profile and that too at an affordable tariff. Shri Rajib Kumar Das said that tariff for solar power has reduced from Rs.18.44 in 2009-10 to Rs 5.68 in 2016-17 per Kwh.
Session III: ‘Renewables: Enabler for Sustainable Growth’ Speakers : Dr. B. K. Choudhury, Professor - Department of Energy Management, IISWBM – Moderator Shri K K Maskara, Director & Head– Commercial & Bid Management EPC, Vikram Solar Ltd. Shri Piyush Jaju, Co-Founder & CEO, Onergy Solar Shri D. Bandyopadhyay, WBCS (Exe), CEO, WBREDA Shri Jaydeep Sarkar, Deputy Manager (WB & NE), Energy Efficiency Services Limited
Dr. B. K. Choudhury said that India reached 20 GW in installed solar capacity, four years ahead of target. The target has been scaled up five times to 100 GW from solar. Shri K. K. Maskara said that in 2009-10, efficiency of solar modules was 40~50%. Now, efficiency of modules can be as high is 90% and cost per MW has reduced to Rs 4 cr. Shri Piyush Jaju pointed out it takes less time and effort to sell a solar system in Maharashtra and Gujarat than in West Bengal. Shri D. Bandyopadhyay said that India’s standing has risen to 6th in solar power and 5th in the renewable market. The 175 GW target by 2022 is not a distant dream. A new Renewable Energy Policy of West Bengal has been framed awaiting Government approval. Shri Jaydeep Sarkar spoke about the Street Lighting National Programme (SLNP) involving conversion of conventional street lights with LED street lights, which led to 45 to 55% energy savings, standardization of technology to match the necessary output. ***************
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Special Session with Shri Ashwini Kumar Choubey, Hon'ble Minister of State for Health & Family Welfare, Govt. of India on “Health & Family Welfare : Recent Trends & Road Ahead” on 9 June 2018 at MCCI Conference Hall
The Chamber organized a Special Session with Shri Ashwini Kumar Choubey, Hon'ble Minister of State for Health & Family Welfare, Government of India on “Health & Family Welfare : Recent Trends & Road Ahead” on 9 June 2018 at its premises. “India is going to be a medical hub in the world” and West Bengal would have a huge role to play, Shri Choubey said addressing the members. The Hon’ble MOS referred to Ayushman Bharat, the largest medicare policy in India so far and a dream project of the Hon’ble Prime Minister launched last year, and said that the project had already covered 40% of the population below poverty level by providing them incredible medical facilities at no cost. Rs. 2,000 cr. has been allotted for the current year to treat 1354 different of types of diseases. He also spoke about Pradhan Mantri Suraksha Yojana, which would cover 10 cr. families / 50 cr. people by the end of this year. Stressing on the importance of preventive health care, he mentioned about opening of 15,000 Wellness Centres and 1100 additional health centres all over India, Rs. 1200 cr. being allocated by National Health Protection Scheme, Rs. 51 lakhs to be invested every year. These Wellness Centres would provide 12 types of treatment for basic diseases. A total of 73 Medical Colleges had been identified for super speciality blocks with intensive care units for treatment, the Hon’ble MOS pointed out. He said that more doctors would be needed for these super speciality blocks. Bengal had been battling a shortage of doctors for many years, which affected the functioning of 42 super speciality hospitals in the state. Out of 10,440 posts of doctors, only 6,600 had been filled, he mentioned. 24 more medical colleges would be opened in India, out of which 5 would be commissioned in West Bengal. Rs. 50 cr. had been disbursed for one Medical College and the state had been requested to prepare detailed Project Reports for the rest 4. Based on the recommendations of Medical Council in India (MCI), 82 medical colleges in Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh, Karnataka were denied permission to admit students during the academic year 2018–19. The Health Ministry had also rejected the proposal to approve 68 medical colleges, including 2 in Bengal, in Durgapur & Siliguri. Regarding vaccination, under Mission Indradhanush, Polio vaccination had been completed in 2016 in all the states. Under Pradhan Mantri Matritya Vanadana Yojana, 80% pregnant women were vaccinated. An amount of Rs. 6,000/- per woman was given to pregnant women and lactating mothers, as on 1st Jan, 2017. On alternative medicine, Shri Choubey stated that plans were on to introduce Yoga at 6 AIIMS, as part of providing holistic treatment to the patients.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, Senior Vice President of the Chamber spoke the huge potential of West Bengal and the East to become the global medical hub. He also spoke about the gap between the required and the current health care infrastructure and adequate & trained care providing staff. The Session ended with a hearty Vote of Thanks by Shri Birendra Agarwal, former President of the Chamber. ******************
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Interactive Session with Shri S. Ravi, Chairman, BSE Limited on ‘A Robust Stock Market and Financial Services Projects Economic Power’ on 13 June 2018 at the Conference Hall of MCCI.
In an Interactive Session organized by the Chamber on 13 June 2018, Shri S. Ravi, Chairman, BSE Limited said that India is experiencing rapid changes in NCLT, GST, RERA, FDI guidelines, etc. Banking sector is changing with higher provisioning for NPA and capital augmentation by GoI. The Mutual Fund industry has grown to Rs. 23.6 trilion with 7.22 crore investors. Retail investors who lack financial literacy are using Mutual Funds to enter the stock market. To avoid losses, investors should not invest based on fake news. The equity market is risky and erosion is a market function. Unlike banks, stock exchanges do not give early warning signals although they may stop trading in case a stockover/ under shoots. The life insurance business has grown to USD 6.64 billion. Formerly, growth took place in the life and general insurance sectors, now growth is in health insurance. About 10–12 health insurance companies are listed with IRDAI and a few with the stock exchanges. For India to realize its goal of becoming a Rs. 10 trillion economy by 2025, all sectors above must grow together. The banking sector and capital markets must be well aligned and we need to take a holistic view. All markets namely, insurance, banking, capital, commodities, etc. will converge and we may see a single regulator in future.
Earlier, in his Welcome Address, Shri Amitav Kothari, Past President, MCCI said that Indian equities have recently experienced a bull run with benchmark indices touching fresh highs every other day. However, a bullish stock market does not necessarily indicate that all is well with the economy. Investors’ education and awareness programmes can play a major role in expanding the base of equity retail investors. He expressed concern over recent resignations of Auditors of 47 listed companies, on the verge of declaration of financial results. The session ended with a hearty vote of thanks offered by Shri Smarajit Mitra, Chairman, Standing Committee on Banking, Finance & Insurance, MCCI. ****************** The Kidopreneur Summit on 16 June 2018 at Novotel, Kolkata
MCCI, Sonali’s Cubo and SREI Happy Rainbow Box co-presented The Kidoprenuer Summit in association with The Telegraph on 16 June 2018 at Novotel, Kolkata. Shri Ramesh Agarwal, President MCCI in his Welcome Address said that MCCI believes that entrepreneurial skills should be nurtured in youngsters so that they may attain their full potential in life. Shri Hemant Kanoria, Chairman and Managing Director, SREI Infrastructure Finance Ltd. pointed out that 1 million youth enter the job market every month in India. Given the huge population of the country, people have no choice but to become entrepreneurs. Smt. Manasi Roy Chowdhury, Co-Chairperson, Techno India Group in her address said that children as young as 10~18 years of age can have amazing entrepreneurial skills. There were 4 sessions, each with 3 kidopreneurs. Shri Vishal Jhajharia, Senior Vice President, MCCI was a stalwart in the 1st Session. Shri Jhajharia expressed that the challenge for an entrepreneur is that they have to create their own path as there are no books. The session ended with a hearty vote of thanks offered by Smt. Vayjayanti Pugalia, Owner, Sonali’s Cubo. ******************
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Interactive Session with H.E. Mr. Jan Luykx, Ambassador of the Kingdom of Belgium in India on ’Doing Business with Belgium’ on 26 June 2018 at the Conference Hall of MCCI.
In an Interactive Session by MCCI on ’Doing Business with Belgium’ on 26 June 2018, H.E. Mr. Jan Luykx, Ambassador of the Kingdom of Belgium in India said that trade between the two countries amounted to USD 13.28 billion in 2016-17. Diamond trade, chemicals, pharmaceutical and machinery sectors between the two countries are important. About 200 Belgian companies have invested in India. Clean technologies, waste management and Smart Cities are of interest to Belgium. About 80 Indian companies operate in Belgium. The Belgian Govt. encourages Belgians to visit India so that they can decide on investing in India. With regard student exchange programmes, the educational institutions need to take an interest as several Indian colleges have agreements with Belgian Universities. Mr. Vikash Kandoi, newly appointed Hony. Consul of Belgium in Kolkata mentioned that Belgium has a strong ecosystem for business and a diversified economy. India is one of the largest trading partners of Belgium. The Session was also attended by Mr. Stijn Mols, Deputy Head of Mission in New Delhi. Earlier, in his Welcome Address, Mr. Vishal Jhajharia, Senior Vice President, MCCI said that India is Belgium’s 2nd largest export destination and 3rd largest trade partner outside the EU. In 2016-17, bilateral trade amounted to USD 13.28 billion. While exports from India to Belgium were worth USD 5.65 billion, imports from Belgium were USD 6.62 billion. The session ended with a hearty vote of thanks offered by Mr. Mahesh Keyal, Chairman, Standing Committee on Foreign Trade, MCCI. *************** Interactive Session with H.E. Mrs. Maria Teresita C. Daza, Ambassador of Philippines in India on ’Doing Business with Philippines’ on 6 July 2018 at the Conference Hall of MCCI.
In an Interactive Session organized by MCCI on “Doing Business with Philippines” on 6 July 2018, H.E. Ms Maria Teresita C. Daza, Ambassador of the Philippines in India said that Gross Domestic Product (GDP) of Philippines grew by 6.9% in 2016 and 6.7% in 2017. Philippino investments in India are in tele- communications, IT, real estate, reprocessing of waste, management education. Some of the companies operating in India are V.Merida (processing of waste), Ayala (Construction and ITES); Philippine Wireless (Paging service), SPI Technologies (ITES); Del Monte and Oishi (Food processing). Investment pledges and agreements from Indian firms reached a total of USD 1.25 billion. Indian IT companies WIPRO, TCS, L&T Infotech, Genpact, Infosys, HIMT (Hindujas), and Tech Mahindra have set up BPO operations in Philippines. Mr. Deepak Khemka, Hony. Consul General of Philippines in Kolkata, mentioned that Philippines has a huge requirement for pharma products which India can export. Mr. Arvin R. de Leon, Consul General and Mr. Charles Lawrence Ching, Vice Consul attended Session. Earlier Mr. Ramesh Agarwal, President, MCCI in his welcome address said that total bilateral trade between India and Philippines presently stands at USD 2.46 bln in 2017-18 from USD 1.98 bln in 2016-17 registering an increase of 24.85%, which is significant. Philippines is beginning to emerge as a destination for many Indian students. The session ended with a hearty vote of thanks offered by Mr. Sanjib Kothari, Co-Chairman, Standing Committee on Foreign Trade, MCCI. *******************
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Session with Shri Vinaya Varma, MD & CEO, Mjunction Services Ltd. on 'e-Commerce in Steel-Journey So Far & Way Ahead'. on 10 July 2018 at the Conference Hall of MCCI.
MCCI organized an Interactive Session with Shri Vinaya Varma, MD & CEO, Mjunction Services Ltd. on 'e-Commerce in Steel-Journey So Far & Way Ahead' on 10 July 2018 at the Conference Hall of the Chamber. Addressing the Session, Shri Varma said that there is a greater prospect for e-Commerce for the Steel industry where both small and medium producers can also participate and benefit on such portal. Since, e-Commerce reduces the transactions cost of sales and marketing of their produce it provides a better revenue for marketing their products through e-Commerce. He felt that there is a greater prospect for e-Commerce in India for the Steel industry as with the rising GDP the demand for steel intensive sector like infrastructure, transport, housing etc. will also grow.
Earlier, in his Welcome Address, Shri Ravi Agarwal, Chairman, Standing Committee on Steel, MCCI expressed that there is more scope for MSME units in Steel industry to participate in e-Commerce to expand their business which may even cross boundaries. The session ended with a hearty vote of thanks offered by Shri Deepak Kumar Agarwal, Co– Chairman, Standing Committee on Steel of the Chamber. *******************
Seminar on “Business Growth through Digital Media” on 11 July 2018 at MCCI Conference Hall
In a Seminar on “Business Growth through Digital Media” organised by MCCI on 11 July, Shri Arun Agrawal, Director, Ebizindia Consulting Pvt. Ltd. said that 3 things are important for Internet Marketing, viz. Product Profile, Lead Generation & Getting Traffic. He stressed on identification and clear picture of the prospective buyer. Knowledge of the prospective buyer, his/her details like age, preferences, financial status etc. has always been crucial. He pointed out that the 1st impression of the website is important. It should have a simple name, clearly spelt out, have an impressive layout with focus on the products/ services. The website must have a fast loading speed to cater to the needs of the consumers, he added. The most desired action would be Lead, Sale, & Social Engagement.
“Digital Marketing is basically marketing on the digital media”, said Shri Abhishek Rungta, Founder & CEO, Indus Net Technologies. Website of a particular company should be designed in consultation with the sales team, as it is the ultimately the responsibility of that team to sell a particular product/ service. He emphasized on structured planning and a continuous relationship with the buyers. Social Media Marketing on Facebook, Twitter, Instagram, LinkedIn, WhatsApp and others is crucial for Demand Creation, Deeper Reach, and Indirect Marketing. Digital marketing is cheap, as compared with other forms of marketing, however, one should know the game, otherwise, there would unnecessary expenses. Earlier, in his Welcome Address, Shri Sanjib Sanghi, Co Chairman, Standing Committee on IT & Communication, MCCI said that it is important to work out digital strategies & choose channels wisely, integrate social media into PR, Marketing Programs and brand development over digital media. The Seminar ended with a hearty Vote of Thanks by Shri Prakash Agrawal, Member, Standing Committee on IT & Communication, MCCI. *******************
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Interactive Session with Shri Subrata Mukherjee Hon'ble Minister for Water Resources Investigation & Development (WRID) and Panchayat & Rural Development (PRD), Govt. of West Bengal on “Assuring Irrigation to Small & Marginal Farmers of West Bengal” on 19 July 2018 at MCCI Conference Hall
Addressing an Interactive Session by MCCI on “Assuring Irrigation to Small & Marginal Farmers of West Bengal” on 19 July 2018, Shri Subrata Mukherjee, Hon'ble Minister for Water Resources Investigation & Development and Panchayat & Rural Development, Govt. of West Bengal said that the Arsenic problem in 7 districts of the state had been the most wide spread in the world, excepting Bangladesh. Water for irrigation & agriculture should also be made arsenic free, like water for human consumption, otherwise fruits and vegetables grown from trees prone to arsenic water, might also contain elements leading to cancer, he observed. He expressed concern over the depleting ground water level and felt that this should be stopped before reaching an alarming level. The Hon’ble Minister said that in West Bengal, small & marginal farmers constitute 96% of total farmers and hold around 80.7% of the land, the average size of land holding being 0.77 ha. He said that in West Bengal there are 4 medium & major projects e.g. Teesta, Damodar Valley, Kansabati & Mayurakshi projects with a culturable command area (CCA) of 13,03,434 hectares. There are a total of 5,08,250 minor irrigation schemes covering CCA of 23,65,351 hectares. In a bid to boost agricultural productivity, a total of 16,901 minor irrigation schemes were set up till June 2018 by Department of WRID. He further noted that 96% of the beneficiaries of the minor irrigation are small and marginal farmers. Owing to successful implementation of irrigation, the crop intensity has increased from 177% in 2010–11 to 188% now, he observed. He referred to an externally aided project, named, “West Bengal Accelerated Development of Minor Irrigation Project”, supported by World Bank and Govt. of West Bengal for management of surface and ground water. This project was functional since 2013 to increase agricultural productivity and rural employment and aimed to cover 1 lakh beneficiaries.
On “Jal Dharo Jal Bharo”, a unique state Government initiative to conserve rain water in all kinds of water bodies viz. tanks, ponds, reservoirs, canals etc., he pointed out that as of June 2018, 2,44,149 water bodies/ water retention structures have been created in convergence with WRID & PRD. He spoke about location specific scheme for comparatively underserved areas of the state, named “Jalatirtha” since 2014–15 in 5 Paschimanchal districts of Bankura, Birbhum, Paschim Medinipur, Jhargram & Purulia, which was later extended to Sundarban areas and hilly areas of Darjeeling & Kalimpong. He pointed out that till June 2018, 237 water harvesting tanks and 415 check dams had been constructed to provide irrigation to 37,380 hectares of land.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President of the Chamber said that natural recharge is high in West Bengal but only 42% of state’s groundwater resources were being used due to policy restrictions and farmers’ inability to meet the expenses. If farmers could get more access to groundwater, they could cultivate lucrative crops and diversify. He suggested subsidies to improve agricultural productivity.
The Session ended with a hearty Vote of Thanks by Shri Vishal Jhajharia, Senior Vice President of the Chamber. *****************
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2nd Workshop on Excel Analytics & Powerpoint Presentation Skills on 20 July 2018 at MCCI Conference Hall
The Chamber organized the 2nd Workshop on Excel Analytics & Power Point Presentation Skills on 20 July 2018 at its premises. The Workshop was attended by representatives of member–firms and other organizations.
Session on Excel Analytics was addressed by CA Sanjib Sanghi, Secretary, Co Chairman, Standing Committee on IT & Communication, MCCI and EIRC of ICAI. The Focus was on How to Save Hundreds of Hours using Excel. Shri Sanghi gave hands–on training on Excel Worksheet Basics, Navigation, Find–Replace, Filter, Paste–Special, Formulae including Sum, Autosum, Max, Min, Average; Features like Transpore, Cell referencing & GoTo Special; Pivot, Raw Data for Pivot, Pivot Dash Board
The Session on Powerpoint Presentation Skills was addressed by CA Vivek Agarwal, Partner, S K Agrawal & Co., who gave hands–on training on Infographic Cycle Diagram & Semi Cycle Diagram; Spiral Binding Matrix; Process Diagram with Hexagons, 3 Loops Diagram, Escalator Diagram; Pie-Chart Infographics, Diamond Diagram & Circular Motion Diagram; Timeline Diagram & Alternating Flow Process Diagram; Visuals like Umbrella with Rain, Hands with Leaves etc. ***************
Seminar on “Bangladesh’s Graduation from LDC : Prospects of Bangladesh-India Economic Engagement” To Celebrate Bangladesh’s Graduation from LDC on 23 July 2018 at The Park Hotel, Kolkata
A Seminar on “Bangladesh’s Graduation from LDC : Prospects of Bangladesh-India Economic Engagement”, was organized by the Bangladesh Deputy High Commission in Kolkata in association with MCCI on 23 July 2018 at Park Hotel, to celebrate Bangladesh’s graduation from a least developed country to a developing country. Speakers were : Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment Government of West Bengal H.E. Mr. Syed Muazzem Ali, High Commissioner for the People’s Republic of Bangladesh, New Delhi, India Mr. Toufique Hasan, Deputy High Commissioner for the People's Republic of Bangladesh in Kolkata Mr. Sheikh Fazle Fahim, Senior Vice President, The Federation of Bangladesh Chambers of Commerce & Industry (FBCCI), Bangladesh Prof. (Dr.) Rajagopal Dhar Chakraborti, Director, Indian Institute of Social Welfare & Business Management (IISWBM), Kolkata Dr. Jamaluddin Ahmed, FCA, General Secretary, Bangladesh Economic Association, Bangladesh
“We are for total cooperation with Bangladesh”, said Shri Sadhan Pande, Hon’ble Minister, referring to the long association between India and Bangladesh, since the days of Late Indira Gandhi and Late Sheikh Mujibur Rahman. He said that a stable, democratic and secular Bangladesh would be advantageous to India and vice versa. He particularly spoke about stronger relationship between West Bengal and Bangladesh and invited Bangladeshi
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Addressing the House, Mr. Syed Muazzem Ali said that the graduation of Bangladesh from LDC would fulfill the dream of Bangabandhu Sheikh Mujibur Rahman of transforming the country into “Sonar Bangla” (Golden Bangladesh). He expressed gratitude to India, particularly to Kolkata, for providing all round support and cooperation to Mukti Yuddha (Freedom struggle) and the subsequent development of the country. He said that Bangladesh had achieved all the 3 criteria for graduation. The Gross National Income (GNI) per capita threshold was $1,230 or above, Bangladesh’s GNI per capita was $1,610, at the end of 2016– 17. The Human Asset Index (HAI) target was 66 or above, Bangladesh’s score was 72.8. The Economic Vulnerability (EVI) target was 32 or below and Bangladesh scored 24.8. At least 2 of these 3 threshold indices should be maintained till the county’s final graduation from LDC in 2024, he noted. Stressing on more connectivity between India and Bangladesh, he mentioned about commissioning of Akhaura to Agartala–18 km railway stretch, which would provide the North east an access to Chittagong port. A Visa Office was being planned at Bagdogra and a new Deputy High Commission office being set up in Chennai, he added.
Mr. Toufique Hassan said that graduation would mean that Bangladesh would be losing the aid/grants/benefits given to LDCs, to be around $ 2.7 billion every year. Nevertheless, Bangladesh had been on the growth path and would like to acquire the ‘developed’ country status by 2041, he noted.
Mr. Sheikh Fazle Fahim spoke about the strong growth parameters of Bangladesh with 7%+ GDP growth rate in the last 3 years and service sector being the highest contributor. He said that there had been 42% growth in exports over the last 2 years. The country had been the 2nd largest apparel exporter and 3rd largest fish exporters with around 100 economic zones and 100% repatriation of profit. Apparel Readymade Garments exports rose to $ 30 billion in 2017–18, with the target of $ 50 billion by 2021, employing 3 lakh women. Prof. (Dr.) Rajagopal Dhar Chakraborti said that ‘a silent revolution’ took place in Bangladesh, which got a formal recognition by the UN. Bangladesh had evolved as a country, which could no longer be ignored. The Government would have to be strong to contain terrorism and corruption. Dr. Jamaluddin Ahmed dwelt upon free flow of business activities between the two countries and identified the certain areas for further cooperation viz.: Education, Health care, Infrastructure, IT & Communication Technology etc.
Earlier, in his Welcome Address, Mr. Ramesh Agarwal, President MCCI congratulated the Policy Makers and Industry Leaders of Bangladesh for the significant achievement regarding graduation from LDC status. He said that the LDC category was introduced by the United Nations in 1971, and Bangladesh was the only country that met the criteria for graduation including GNI per capita, Human Assets Index, and Economic Vulnerability Index. This graduation would bring in a lot of opportunities for the country. However, there would be quite a few challenges, overcoming which would be critical for a smooth graduation process. The Seminar ended with a hearty Vote of Thanks by Shri Vishal Jhajharia, Senior Vice President of the Chamber. ***************
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Workshop on ‘Companies Act Amendments 2017 and SBO’ on 26 July 2018 at MCCI Conference Hall
A Workshop was organized by the Chamber on “Companies Act Amendment 2017 and Special Beneficial Ownership (SBO)” on 26 July 2018 at its premises with Shri Divesh Goyal, Shri Amit Gupta and Shri Sumit Binani, distinguished experts on Company Law. Smt Mamta Binani, Chairperson, Standing Committee on Corporate Law & Governance, MCCI chaired the Session and introduced the Speakers.
Shri Divesh Goyal mentioned that 93 Amendments have been brought in Companies Act 2017, out of which 80 sections have been notified till the present, in a phased manner. The major amendments proposed include Simplification of private placement process, Rationalization of provisions relating to the role of the Directors, Omission of Provisions relating to financial dealing, Insider trading, doing away with the requirement of approval of the Central Government for managerial remuneration above the prescribed limit and aligning disclosure requirements. Shri Amit Gupta mentioned that the enactment of law for identification of SBO is expected to be a major breakthrough in the direction of curbing the menace of black money and Benami transactions. Shri Sumit Binani said that if any person furnished any wrong information or suppresses any information, it should be punishable as fraud u/s 447 of the Companies Act. Heavy penalty is given upto Rs. 10 lakhs extendable upto Rs. 50 lakhs.. ***************
Meeting with Mr. Kumar De Silva, Chairman, Sri Lanka Convention Bureau and Mr. Lalit Peiris, Country Manager, Sri Lankan Airlines on ‘Showcase & Promote Sri Lanka as a Destination for Meeting, Incentive, Conference & Exhibition (MICE)’ on 31 July 2018 at MCCI Conference Hall
In a Session on ’Showcase & Promote Sri Lanka as a Destination for Meeting, Incentive, Conference & Exhibition (MICE)’ organized by the Chamber on 31 July, Mr. Kumar De Silva, Chairman, Sri Lanka Convention Bureau (Ministry of Tourism, Government of Sri Lanka) spoke about the growing cooperation between Sri Lanka and India. He referred to two Hotel projects in Colombo, one of which is Hotel by ITC. Kolkata based Emami has built the tallest tower in Sri Lanka. India is the largest source market for tourists for Sri Lanka, 3.84 lac tourists from India visited Sri Lanka last year and 4 lac visitors are expected this year.
Mr. Lalit Peiris, Country Manager, Sri Lankan Airlines said that Kolkata and Colombo are connected by direct flights, thrice a week which is increased to four flights during the Puja season. The flight time is 3 hours. Flights between Colombo & Kolkata have 75%. occupancy.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President, MCCI informed that the Chamber is mounting a Business Delegation to Sri Lanka in collaboration with Indian High Commission in Colombo during 19th to 23rd September 2018. The Delegation will have B2B meetings, interaction with Chambers of Commerce & Industry and senior government officials for business promotion. ***************
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Interactive Session with Shri Anand P. Srivastava, Regional Head, Small Industries Development Bank of India (SIDBI) and Smt. R. Prabhavathi, Deputy General Manager, SIDBI on ’SIDBI’s Schemes for MSMEs’ on 3 August 2018 at the Conference Hall of MCCI.
In an Interactive Session on ’SIDBI’s Schemes for MSMEs’ organized by MCCI on 3 August 2018, Shri Anand P. Srivastava, Regional Head, SIDBI noted that 80% of SIDBI’s lending is in the form of refinance and 20% is direct lending. While it predominantly relies on refinance, SIDBI will continue to have a presence in direct lending as it wants to know the pulse of the market. The size of SIDBI’s Balance Sheet is about Rs. one lakh crore and its profit after tax is Rs. 1,450 crores. SIDBI has shared its benchmark norms with MCCI and it expects MCCI to respond. In other words, SIDBI and MCCI have joined hands to bring cost effective finance to MSMEs. Smt. R. Prabhavathi, Deputy General Manager, SIDBI said that SIDBI is engaged in both indirect lending and direct lending to MSMEs. Shri Ashim Baidya, Manager, SIDBI was present and showed a presentation on SIDBI Make in India Soft Loan Fund for Micro Small & Medium Enterprises (SMILE) and SMILE Equipment Finance Scheme (SEF Scheme).
Shri Smarajit Mitra, Chairman, Standing Committee on Banking, Finance and Insurance, MCCI in his welcome address said that that for the Indian economy to jumpstart, it is necessary for both large industry as well as MSMEs to do well. The Session ended with a hearty vote of thanks given by Shri Akhil Sonthalia, Co- Chairman, Standing Committee on MSME, MCCI. *************** Workshop on “Protection Against Cyber Crime & Hacking” on 11 August 2018 at MCCI Conference Hall
The Chamber organized a Workshop on “Protection Against Cyber Crime & Hacking” on 11 August 2018 at MCCI. The Workshop was addressed by Shri Sandeep Sengupta, Cyber Audit Expert & CEO, Indian School of Anti Hacking (ISOAH) Data Securities Pvt. Ltd. The Workshop covered areas like common attacks, future attacks and threats through wifi at office/ home, hacking of devices, email/ Facebook/ Whatsapp & other ids and how to prepare for a hack proof organization. Shri Sandeep Sengupta mentioned that Cyber Security had been a subset of Information Security, in which all the verticals in a business organization like Admin, HR, Accounts, Marketing, Legals – have huge roles to play. He said that the ways of doing business would change drastically with technology and enhanced bandwidth. He stressed on PPT: People, Process & TechnologyHe advised all to be careful about contact less cards and suggested to wrap it in aluminium foils/ boxes, to protect the same from being hacked. He urged not to share the mail password/ wifi password/ PIN to anybody and advised all to change the same on a regular basis, once in 30 days. In case of mail spoofing, there would be a reply marked to gmail or yahoo or any other public id. He felt that filtering emails would create an additional layer of security. He warned all of call spoofing and said that if the accounts department is asked any confidential information, then the person concerned should call back the caller. The Opening Remarks were delivered by Shri Sanjib Sanghi, Co Chairman, Standing Committee on IT & Communication of the Chamber. ***************
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Session with Shri Subhash Chandra Garg, IAS Secretary, Department of Economic Affairs, Govt. of India on ‘Indian Economy : Current Trends & Future Outlook’ on 18 August 2018 at MCCI Conference Hall
The Chamber organized an Interactive Session with Shri Subhash Chandra Garg, IAS, Secretary, Department of Economic Affairs, Govt. of India on ‘Indian Economy : Current Trends & Future Outlook’ on 18 August 2018 at MCCI Conference Hall. India would be $ 10 trillion economy by 2030, said Shri Garg, addressing the members. Currently, Indian economy is $ 2 trillion, while China $ 12 trillion and US is $ 18 trillion. The world economy is growing at 3.9%, currently at $ 82 trillion, with Chinese economy stationed at 6% and Indian economy at 7%+. “China has contributed a lot to the global economy, now it is India’s turn”, he said. India should be able to grow at 8–9%. Longer term confidence is increasing with steady macro economic parameters. In Rupee terms, India’s GDP is currently Rs. 170 lakh cr. with a growth of 7.3%, the growth would be annually by around Rs 12~13 lakhs cr. Since 2003, India had grown at 6%+ rate & even at 6.7% in the year of demonetization & GST. The task ahead by the Govt. is to enhance the growth rate from 6% to 8%.
Certain fundamental reforms created the foundation for a much higher growth rate. He said that there were huge economic implications of introduction of GST creating a national market as also of demonetization. Last year, there were 6.6 million registered business units, which increased to 12 million this year, thus registering a growth rate of 40–45%. Income Tax payees increased to 4 cr. with enhanced tax compliance & tax returns.
A huge change was also brought forth by Insolvency & Bankruptcy Code (IBC), which released resources from unsuccessful businesses to be reinvested into more viable tax ones. More than 1200 business units closed releasing more than 50,000 bank accounts. RERA also created the right pitch. There were a lot of investment in the realty sector till 2013, which increased from Rs. 32 lakk cr to Rs. 65 lakh cr in 3 years, after which it became sticky to rise to only Rs. 72 lak cr in another 3 years. Output gaps are closing in steel & cement, making investment more profitable. The NPA problem of the banks is also a matter of the past. He said that trade deficit in India has reduced over the years, in sharp contrast with China, which had its trade deficit for the 1st time in 30 years. He felt that the huge digital economy with the growth of startups is an enabler of growth.
Another sector is energy, the mandate of generation of 175 GW of renewable energy by 2022 is very much achievable and this sector would change the ways of doing business. With generation becoming highly decentralized with power fed into grid, this would transform the vehicular system. No petrol/diesel cars after 8–10 years. On employment issues, he said that the pattern of employment has changed over the years, with less people employed as employees. The problem is with lowly paid jobs than joblessness, he added.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President of MCCI spoke about the Asian Development Bank statement about India being the fastest growing economy and also about the minimum support paid to the farmers. He mentioned about the low rate of completion of projects. The Session ended with a hearty Vote of Thanks by Shri Vishal Jhajharia, Senior Vice President of the Chamber. ***************
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MCCI Mutual Fund Forum 2018 : ’Mutual Funds: Securing India’s Financial Future’ on 24 August 2018 at Hotel Lalit Great Eastern, Kolkata.
MCCI organised the MCCI Mutual Fund Forum 2018 titled ’Mutual Funds: Securing India’s Financial Future’ on 24 August 2018 at Hotel Lalit Great Eastern, Kolkata. Inaugural Theme : Indian Mutual Fund Industry : Current Trends, Challenges & Possible Growth Path The Inaugural Session was addressed by the following speakers: Shri N. S. Venkatesh, CEO, Association of Mutual Funds in India (AMFI) – Guest of Honour Shri S. Madhusudanan, Regional Director-Eastern Region, SEBI Shri G. Pradeepkumar, CEO, Union Asset Management Co. Pvt. Ltd. Shri S Chatterjee, CoChief Business Officer, Reliance Nippon Life Asset Management Ltd. Shri Prem Khatri, Founder & CEO, CAFEMUTUAL Shri Sasanka Sekhar Nundy, President, Independent Consultants & Advisors Association
Dwelling on the Inaugural Theme, Shri N S Venkatesh said that in order to reach the Rs 50 lakh cr. from the current level of Rs. 24 lakh cr. in 5 years, there should be widening and deepening of the distributor base, particularly reaching out to Tier II & Tier III cities. He said that there had been only 1 lakh distributors, which should be increased to 5 lakhs, who would bring in investors from the smaller cities for wealth creation. He felt that there is a huge potential of channelizing the PAN holders, 29 cr.in number, to create more investors.
Shri S. Madhusudanan explained that major developments and Investor Protection Measures adopted by SEBI include One-time KYC for investing in mutual funds; Classification of mutual funds into 5 schemes: Equity Schemes, Debt Schemes, Hybrid Schemes, Solution Oriented Schemes; Product labelling of Mutual Funds as Low, Moderately Low, Moderate, Moderately High and High - principal at high risk and others. Shri G. Pradeepkumar pointed out that people invest in Mutual Funds to create wealth and the focus should be on this. The AUM / Deposit is 20% in India but 200% in the US. Reaching out to new investors is impotant, for which more advisors are needed. Shri S Chatterjee felt that the Mutual Fund industry has to transform from acquiring customers to increasing share of wallet; from just selling products to providing solutions and from dealing with the individual to managing a family’s financial health. Shri Prem Khatri mentioned that if the Mutual Fund industry grows at a CAGR of 17 p.c. then it can reach a size of Rs 50 lac crores in 5 years. Shri Sasanka Sekhar Nundy said that it is the responsibility of al concerned to take the industry to the public and make them partners. Savers should be converted into investors.
Earlier, Shri Ramesh Agarwal, President, MCCI in his Welcome Address, mentioned that in India, with 42 Mutual Fund houses managing assets to the tune of over Rs. 23 lac crore, asset base of Mutual Funds as a percent of GDP is just 11% while the world average is 62%. The Session ended with a hearty vote of thanks offered by Shri Smarajit Mitra, Chairman, Standing Committee on Banking, Finance & Insurance, MCCI.
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Session I : ‘Technology & Digitisation: Possible Impact on Asset Management Industry’ The Session was addressed by the following speakers: Shri Tanwir Alam, Founder & CEO, Fincart – Speaker & Moderator: Shri V. Ramesh, MD & CEO, MF Utilities India Pvt. Ltd. Smt. Lakshmi Iyer, CIO-Fixed Income & Head-Products, Kotak Mahindra Asset Management Co. Ltd. Shri Madhu Sudhan, Head–Digital Business, Motilal Oswal Asset Management Co. Ltd. Shri Saurabh Arora, Head– Digital Sales & Alliances, Aditya Birla Sunlife Asset Management Co. Ltd.
Shri V. Ramesh said that in a short period of time, 96% of investments might become paperless. Shri Saurabh Arora pointed out that digital distribution is helping add fresh customers. In fact, a large number of folios were added by the industry last year and 50 p.c. of these were added through digital distribution. Smt. Lakshmi Iyer said that China has 120 crore people and 80 crore Internet users. India with a population of 120 crores has 50 crore Internet users. Shri Madhu Sudhan pointed out an MF can earn revenue of Rs. 10,000 to Rs. 11,000 from a customer assuming he acquires a AUM of Rs. 10 to Rs. 11 lacs in a few years.
Session II : East & North-East of India : Possible Role in boosting India’s MF Industry The Session was addressed by the following speakers: Shri Romit Barat, VP & Head-PMS & AIF, Narnolia Financial Advisors Limited – Moderator: Shri Purushottam Saraf, Additional GM & Regional Head (East), BSE Ltd. Shri Vipin Bhandari, Zonal Head-Retail Sales & Distribution (East), ICICI Prudential MF Shri Arjun Chaudhuri, Regional Head-Retail Sales (East), DHFL Pramerica MF Shri Aloke Sasmal, Director, Money Matters Shri Rajesh Koradia, VP, Independent Consultants & Advisors Association (ICAA)
Shri Purushottam Saraf said that everything is done electronically on BSE StAR MF - BSE's Mutual Funds Platform. It is a paperless platform and videos are available for all the processes. 12,500 IFAs are registered with BSE StAR MF. Shri Vipin Bhandari advised distributors to sell discipline with investments and goals to investors and not sell the returns that investors will make. Shri Arjun Chaudhuri said that liquid Funds are giving a return of 7% per annum and they are eligible for indexation benefit for Long Term Capital Gains taxation purposes after three years. As a result, Liquid Funds face low incidence of tax. Shri Aloke Sasmal said that if an inflation rate of 6% is assumed with a 9% GDP growth rate, then a return of about 15% can be expected from the stock market. Shri Rajesh Koradia said that Investors should be told that they will make a little more from equity than debt or Fixed Deposit and that their equity investment will not be a rollercoaster. *************
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Workshop Series on ''Performance Enhancement through Behavioral Change Emotional Intelligence : Develop your EI” on 25 August 2018 at MCCI Conference Hall
The Chamber organized a Workshop on ''Performance Enhancement through Behavioral Change Emotional Intelligence : Develop your EI” on 25 August 2018 at its premises. The Workshop was addressed by Shri Suman Ghose, Facilitator, Coach, Author and Co– Founder, Inroads, Bangalore, who shared the following points : • EQ is the ability to identify, manage and express emotions • Decision Making is driven by the Emotional Brain • IQ only accounts for 20% of your success in life • Beware of the Automatic Behaviours • Avoid Multitasking, Mindful Meditation • Listen to Understand, not listen to respond • Avoid Inappropriate responses *************
Session on 'Dynamic Changes in Compliance Requirements under the Companies Act, 2013, e-filings(e-forms) & Precautions to be taken', jointly with the EIRC-ICSI on 8 September 2018 at MCCI Conference Hall
The Chamber organised Session on 'Dynamic Changes in Compliance Requirements under the Companies Act, 2013, e-filings(e-forms) & Precautions to be taken', jointly with the EIRC-ICSI on 8 September 2018 at MCCI Conference Hall. The Session was addressed by Shri Bhasker Subramanian, Industry Principal, India Business Unit, Infosys Ltd. and Shri Ashoke Purofit, Chairman, EIRC- ICSI.
The Session was chaired by Smt. Mamta Binani, Chairperson, Standing Committee of Corporate Law and Governance, MCCI. She welcomed the Speakers and introduced them to the Audience. She said that every company is required to file Annual Accounts and Annual Returm within 30 and 60 days respectively from the date of Annual General Meeting.
Shri Ashoke Purohit said that the RoC filing of Annual Accounts is governed u/s 129 (3), 137 of the Companies Act 2013 read with Rule (12) of the Compnay (Accounts) Rules 2014. Annual Return is governed u/s 92 of the Companies Act 2013, read with Rule 11 of the Companies (Management & Administration) Rules, 2014.
Shri Bhasker Subramanian informed that as per section 101 of Companies Act 2013, a clear 21 days’ Notice for the General Meeting should be given to all the members, legal representatives of any deceased person, Auditor and every Director of the Company through physical or electronic mode. He explained that due to non Compliance in filing of Annual Form, MCA has taken many other actions in relation to the same, like Issue of Notices to the Directors of the Company and has imposed additional fees and compounding of non compliance of Section 137 & 92 under Companies Amendment Act, 2017.
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MCCI India Economic Forum 2018 : “Taking the Big Leap Forward” on 15 September 2018 at Taj Bengal, Kolkata
The Chamber organized the 2nd version of MCCI India Economic Forum 2018 on 15 September 2018 at Taj Bengal, Kolkata. The Forum aimed at bringing together eminent Economists, Policy Makers & Industry Captains to lay down the future roadmap for Indian economy in the coming decades to take the big leap forward. Inaugural Session : “Doing Business in India – Rope Walk or Cake Walk?” The Inaugural Session was addressed by : Shri Sadhan Pande, Hon’ble Minister for Consumer Affairs & Self Help Group & Self- Employment, Government of West Bengal as the Chief Guest; Mr. Andreas W. Bauer, Senior Resident Representative for India, International Monetary Fund (IMF); Dr. Shubhada Rao, Group President & Chief Economist, YES BANK; Mr. Shihab Ansari Azhar, Senior Private Sector Specialist - Macroeconomics, Trade & Investment, World Bank Group; Mr. Ajeya Bandyopadhyay, Partner – Infrastructure, Government and Healthcare, KPMG Advisory Services Pvt. Ltd.;
Dwelling on the central Theme of “Doing Business in India – Rope Walk or Cake Walk ?” and addressing the Forum as the Chief Guest, Shri Sadhan Pande, Hon’ble Minister for Consumer Affairs & Self Help Group & Self-Employment, Government of West Bengal said inclusive Growth is an important parameter, the backward states should grow along with the forward states. He mentioned that in his Department of Self Help Group & Self Employment, 80 lakh women availed an interest of only 2%, while the market interest rate was 11% and subsidy element 9%. This facility was not available for all businesses, he added.
Mr. Andreas W. Bauer felt that “Doing business in India is neither a cakewalk, nor a ropewalk, this is indeed a Marathon”. He spoke about the importance of 4 key issues viz : Price Stability, Fiscal Stability, External Stability and Financial Stability. He was of the opinion that much progress had been made over Price Stability. Inflation had hovered around 10% for many years, now it has come down to the target range of 2–6% of RBI. Fiscal deficit had been in the range of 7%. Rebuilding fiscal space would be a key challenge. The current account deficit (CAD) in India, currently at $15.8 billion, had been widening, but at a “moderate” level. One of the major challenges would be to facilitate export growth in a macro economic scenario where global growth is expected to remain subdued. He advocated about the changing role of the public sector, including RBI and other public commercial banks and was in havour of full regulatory and supervisory powers of RBI. Dr. Shubhada Rao said that the time is right for creation of an export strategy, policy intervention to check further depreciation of the Indian Rupee as also migration to rule based system, she urged. She stressed on consolidation of macroeconomic parameters and right policy interventions. On exchange rate stability, she observed that earlier, Rupee had stabilized at 64–65 for a long period of time. Rupee is tracking closer to its intrinsic value, which is around 72 against a US Dollar, taken on a base of 2011–12.
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Mr. Shihab Ansari Azhar referred to the Doing Business (DB) Report, 2018 by World Bank, which indicated that India ranked 100 jumping 30 places up from rank of 130, the previous year. He said that in this Report, 190 countries had been measured on the same scale and same set of parameters, which is not comparable. Size of the market is also not considered, as in that case, India would have secured a position in top 3.
Mr. Ajeya Bandyopadhyay spoke about the uncertain future with weakening Rupee, rising petrol and diesel prices, increasing influence of geo–politics in the global parameters and growing protectionism.
Earlier, in his Welcome Address, Shri Ramesh Agarwal, President of the Chamber said that India had now become the 6th largest economy in the world, surpassing France, according to World Bank Report, which stated that Indian GDP stood at USD 2.59 trillion. The IMF also expects economic growth to pick up to 7.3% for FY 2018–19. He also referred to the projection of the Union Commerce Ministry that India would become a 5 trillion dollar economy in 7 years, a 10 trillion dollar economy by 2035 and that India had been preparing a multi-sectoral strategy for the same. The Inaugural Session ended with a Vote of thanks proposed by Shri Vishal Jhajharia, Senior Vice President of the Chamber. Session II : Panel Discussion on “Start-ups and Entrepreneurship : India’s Engine of Growth” The Session was addressed by : Shri Subhrangshu Sanyal, CEO, IIM Calcutta Innovation Park – Moderator Shri Anand Kumar Bajaj, Founder & CEO, PayNearby Shri Raghav Kanoria, Founder-Neoleap Ventures & Co-Founder-Calcutta Angels Shri Arijit Bhattacharyya, Founder & CEO, Virtual Infocom Shri Somnath Dasgupta, Director, Snaayou Healthcare & IT Solutions Pvt Ltd. Shri Ranit Kumar Ghosh, Co–Founder, ZustGo
Shri Subhrangshu Sanyal spoke about the importance of implementable business ideas, strong dependable team, funding & financing issues as also scalability issues. Shri Anand Kumar Bajaj observed that there is no winning idea, the key issue is to make an idea win. The right mindset with the risk taking capability is the key. Shri Raghav Kanoria felt that lack of proper personnel and corporate compliance were the main problems faced by the startups. Shri Arijit Bhattacharyya felt that the basic mantra is to have a simple idea, which can be marketed on a sustainable basis and can be scaled up in course of time.. Shri Somnath Dasgupta, stressed on team building as the key, In the initial years of bootstrapping, where there is a ‘silent hemorrhage’, the right team is the key. Shri Ranit Kumar Ghosh felt that access to potential customer and creation of demand is another major key issue. Session III : Panel Discussion on “Building Blocks : India’s Infrastructure Needs” The Session was addressed by : Shri Biplab S Bose, Whole Time Director, EMC Limited – Moderator Shri Souren Mukhopadhyay, Senior Vice President, SREI Infrastructure Finance Ltd.
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Shri M K Singh, General Manager, Project Monitoring Division, Coal India Ltd. and Shri Ashish Jain, DGM, India Infrastructure Finance Company Limited Ltd.
Shri Biplab S Bose mentioned that constraints in infra sector had been delay in execution of projects, lack of trained personnel and others. Shri M K Singh said that coal had changed its role, from Railways during British period to steel making and now to power generation, which is used for 76% of generation. Shri Souren Mukhopadhyay said that development of infrastructure in India is not a problem, the problem lies in maintenance. He mentioned about various instruments for financing of infra projects are available like BOOT and PPP. Shri Ashish Jain observed that the Deposit kept at the banks has a maturity period of around 5 years, whereas the maturity period of infra projects are 20–25 years. Because of this mismatch in the maturity period, and lack of due diligence, a lot of NPAs have been created. ************** A Multi-Sectoral Business Delegation to Sri Lanka, in association with the High Commission of India, The Ceylon Chamber of Commerce and Asst. High Commission of India, Kandy, from 19 to 23 September 2018
The Chamber organized a multi sectoral Business Delegation to Sri Lanka from 19 to 23 September 2018 in association with the High Commission of India, The Ceylon Chamber of Commerce and Asst. High Commission of India, Kandy. The 18–member Delegation was led by Mr. Ramesh Agarwal, President, MCCI. Mr. Vishal Jhajharia, Senior Vice President, MCCI and Mr. Vivek Gupta, Vice President, MCCI attended a few Meetings.
The Meeting of India–Sri Lanka Business Forum was held on 20th September at Hotel Hilton, Colombo, where the delegates stayed. A Memorandum of Understanding for mutual cooperation was signed by Mr. Rajendra Theagarajah, Chairman, The Ceylon Chamber of Commerce (CCC) and Mr. Ramesh Agarwal. Mr. Shiran Fernando, Chief Economist, CCC made a powerpoint presentation of the Sri Lankan economy. The Meeting was followed by B2B.
The delegates also visited the Indian High Commission and had a meeting with Dr. Shilpak N Ambule, Deputy High Commissioner of India in Sri Lanka and Mrs. Suja K Menon, Counsellor (Economic & Commercial), who gave details of the present status of Indo – Sri Lanks commercial relations.
The delegates visited the Board of Investment, Sri Lanka at World Trade Centre, Colombo. Delegates were received by Ms. Nilupul De Silva, Director (Promotion & Investment), Board of Investmnet, an apex body.
The delegates then moved to Kandy, where a Meeting was addressed by Mr. Dhirendra Singh, Assistant High Commissioner of Kandy, Ms. W M K Kumundu Karunarathne, Secretary, Department of Industry & Commerce, Central Province and Ms. Shirely Jayawardhane, National Senior Vice President, Federation of Chambers of Commerce & Industry, Sri Lanka. The Meeting was followed by B2B interactions. **************
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Seminar on “Sustainable Initiatives in Power : Creating Values for Future” 22 September 2018 at MCCI Conference Hall
MCCI in association with West Bengal State Electricity Board Officers’ Association organized a Seminar on “Sustainable Initiatives in Power : Creating Values for Future” on 22 September 2018 at MCCI Conference Hall. The Seminar was addressed by Shri Sobhandeb Chattopadhyay, Hon’ble Minister for Power & Non Conventional Energy Sources, Government of West Bengal. Addressing the Seminar as the Chief Guest, Shri Chattopadhyay, spoke about the initiatives of the Hon’ble Chief Minister of West Bengal to provide 24x7 power to all since 2011. The customer base has increased to 1 cr. in 7 years. He also spoke about ‘Alo Shree’ project, by which all the Government buildings will have solar rooftops. He said that in addition to enhanced production, the stress is on reduction of carbon emission. The Plant Load Factor (PLF) had come down from 78.9 to 55.6 in 2016–17. ATC losses have also come down by 4% in the recent years, it is around 28% now. The target is to bring it down to 11%. Although West Bengal is a power surplus state now exporting power to Bangladesh, the challenge would be to provide power when the demand rises in future.
Delivering the Keynote Address, Dr. A N Biswas, IAS, Commissioner, Department of Power & NES, Govt. of West Bengal said that the share of renewable was 13% in 2013, which rose to 20% in 2017, still far away from the mandate of 40% by 2030. Out of total basket of 344 GW, 71 GW being generated by renewable energy now, with more than 100 GW to be achieved within 4 years.
In his Welcome Address, Shri Hemant Bangur, Immediate Past President, MCCI referred to the mandate of generating 175 GW by renewable energy by 2022. He said that aid that given the potential of economic growth in West Bengal, it is extremely important that the power sector infrastructure in the state undergoes significant positive transformation. **************
Orientation Session on Government e–Marketplace (GeM) on 6 October 2018 at MCCI Conference Hall
The Chamber organized an Orientation Session on Government e–Marketplace (GeM) with Shri Dinesh Asrani, Business Facilitator, GeM on 6 October 2018 at MCCI Conference Hall. Shri Asrani said that all Government purchases and procurements would have to be mandatorily routed through GeM in course of time. Through power point presentations, he explained the different aspects of Buyer & Seller Modules including Registration, Order Processing, Payments and others. He also spoke about Primary User and Secondary Users, to be defined by the Primary User. He said that there would be an audit trail for the Primary User. He said there are now more than 5 lakhs 11 thousand products/ services.
Earlier, in his Welcome Address, Shri Vishnu Kumar Bhandari, Chairman, Standing Committee on IT & Communication spoke about the huge potential of GeM to be the end–to– end marketplace for various products/ services from multiple sellers catering to the procurement needs of Government Departments/ Offices and PSUs. In 2 years of its operations, GeM has recorded more than 725,000 transactions worth more than Rs. 11,250 cr. and is expected to reach Rs. 40,000 cr. by the end of the current fiscal, he added. ******************
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First Press Meet by the President, MCCI on 10 October 2018 at MCCI Conference Hall
The First Press Meet of Shri Vishal Jhajharia, President, MCCI was held in the Chamber on 10 October 2018. He said that the Chamber wants to make use of the competitive advantage already enjoyed by West Bengal in certain areas. At present, South Asia is one of the least integrated regions. MCCI would hold a forum which will focus on Bangladesh-Bhutan-India-Nepal – Motor Vehicles Agreement (BBIN- MVA) and discuss movement of goods to Bangladesh, Nepal, Bhutan and NE regiom. Another objective of the Chamber will be to promote skill development. Employment opportunities will be created by training unskilled labour to semi skilled and then to skilled. Although West Bengal is a leader in food production having an advantage in agriculture, yet not enough value addition is taking place, whch will be highlighted in a Forum on Agri. The Chamber will continue to hold seminars in towns such as Haldia, Durgapur and Siliguri as growth is decentralized today. The MCCI MSME Help Desk continues to hand-hold entrepreneurs and guide them. Bank loans should be available to MSMEs at lower rates of interest. There is a need to relax holding of land by industry in the State. Power tariffs in West Bengal need to be looked into as it is on the higher side among Indian States. The Government is providing incentives to shift to renewable energy from fossil fuels. The pain points would be highlighted. Like every year, this year too, MCCI plans to take a delegation to a foreign country to explore business opportunities and to promote West Bengal as an investment destination. ******************
Interactive Session on ‘Corporate Insolvency Resolution Process, including PFUE (Preferential, Fraudulent, Undervalued and Extortionate) Transactions on 3 November 2018 at MCCI Conference Hall
The Chamber organized an Interactive Session on ‘Corporate Insolvency Resolution Process, including PFUE (Preferential, Fraudulent, Undervalued and Extortionate) Transactions’ with Dr. Navrang Saini, Wholetime Member of the Insolvency and Bankruptcy Board of India (IBBI) on 3 November 2018 at its premises. Dr. Navrang Saini said that the Insolvency & Bankruptcy Code (IBC) 2016 is a one stop solution for resolving insolvencies where the cost and the time is minimized in attaining liquidation. He hoped that the Code will be available in protecting the interests of small investors and make the process of doing business a less cumbersome one. He informed that 1196 cases have been processed and 90 already resolved. Average days taken by IBBI in resolving the cases were 287 days. Recovery rate is about 50%. 209 cases have been closed due to appeal and similar numbers were going for liquidation. He felt that ‘Resolution’ is the 1st priority and ‘Liquidation’ is the last word in the process. Shri L Sreekara Rao, Chief General Manager of IBBI spoke about Regulation 35A of the Corporate Insolvency Resolution Process (CIRP) Regulations. Earlier, in her Welcome Address, Smt. Mamta Binani, Chairperson, Standing Committee of Corporate Law and Governance of the Chamber said that the World Bank has released its Ease of Doing Business (EODB) Report for the year 2019, in which India’s ranking improved from 100 to 77 among 190 countries. ****************
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Interactive Session with H. E. Mr. Willy K. Bett, High Commissioner of the Republic of Kenya in India on ’Doing Business with Kenya’ on 15 November 2018 at the Conference Hall of MCCI The Chamber organised an Interactive Session with H. E. Mr. Willy K. Bett, High Commissioner of the Republic of Kenya in India on ’Doing Business with Kenya’ on 15 November 2018 at MCCI Conference Hall. Mr. Willy K. Bett said that Kenya offers excellent investment opportunities, which the investors should take advantage of. He said that for foreign investment, the Kenyan Government has focused on agriculture, mainly mechanized farming; healthcare for the people; manufacturing as this will create jobs and housing – Kenya needs 1 million homes and Govt. is seeking real estate developers for low cost homes. Kenya also welcomes investments in leather and textiles. Indian tourists can explore the huge tourism potential of Kenya. India was Kenya’s largest trade partner. The top position is now occupied by China. While India–Kenyan business takes place on B2B basis, China and Kenya operate also on a Government to Government basis, apart from following the B2B model.
Mr. Pranay Poddar, Hony. Consul of Kenya in Kolkata noted that Kenya is a safe country for both business and travel. Many people of Indian origin had migrated to Kenya and some have become proud citizens of that country. Ms. Mercelline Orindi, Economic Counsellor of the Kenyan High Commission in New Delhi was also present and briefly spoke.
Earlier Mr. Vishal Jhajharia, President, MCCI in his welcome address said that in 2014-15 the bilateral trade was US$4.235 billion, which fell to US $2.30 billion in 2016–17 and US$2.05 billion in 2017-18. Main Indian exports to Kenya include petro products, pharmaceuticals, steel products, machinery etc. and main Kenyan exports to India include soda ash, vegetables, tea, leather and metal scrap. The session ended with a hearty vote of thanks by Mr. Sanjib Kothari, Co-Chairman, Standing Committee on Foreign Trade, MCCI. ****************
Session on 'Detailed Analysis of the Companies (Amendment) Ordinance 2018' on 17 November 2018 at MCCI Conference Hall
The Chamber organised a Session on 'Detailed Analysis of the Companies (Amendment) Ordinance 2018' with Shri Ravi Varma, Company Secretary, Texmaco Rail & Engineering Ltd. on 17 November 2018 at its premises. Shri Ravi Varma said that the Companies (Amendment) Ordinance 2018 has made several amendments to reduce burden of routine matters before NCLT. Amendments have been brought in Sec 441(1)(b) regarding compounding of certain offences; Section 454 (Adjudication of Penalties) to empower the adjudicating officers appointed by the Central Government to not only impose Penalties for default of the Company/ its Officers in default/ any other person, but also issue directions for rectification of the default; Double Penalty for repeat default in new Section 454 A; Section 92(5) (failure to file Annual Returns), Section 117(2) (failure to file prescribed resolutions or agreement) and Section 137(3) (failure to file financial statements) and others. Earlier, in her Welcome Address, Smt. Mamta Binani, Chairperson, Standing Committee of Corporate Law and Governance of the Chamber said that Companies (Amendment) Ordinance 2018 was promulgated on 2nd November 2018 to amend certain provisions of Companies Act 2013. The Ordinance has made over 30 amendments to the Companies Act, with an objective to improve compliance and corporate governance. *****************
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MCCI Logistics Forum 2018 : ‘Regional Integration through Transport & Trade’ on 1 December 2018 at The Park Hotel, Kolkata
The Chamber organized ‘MCCI Logistics Forum 2018’ titled “Regional Integration through Transport & Trade” on 1 December 2018 at Park Hotel, Kolkata. The Forum focused on India’s Connectivity with neighbouring nations like Bangladesh, Nepal, Bhutan, Myanmar. Inaugural Session: Logistics beyond boundaries – creating seamless movements The speakers at the Inaugural Session were : Guest of Honour: Mr. N. S. Nigam, IAS, Secretary, Department of Transport, Govt. of West Bengal and MD, WBTC Mr. Abdul Matlub Ahmad, President, India - Bangladesh Chamber of Commerce & Industry Mr. Toufique Hasan, Dy. High Commissio``ner, People’s Republic of Bangladesh in Kolkata Mr. Amit Kumar Gupta, Zonal Business Head, Mahindra Trucks & Buses Mr. Sabyasachi Mitra,Dy. Country Director,Asian Development Bank, India Resident Mission Ms Nandita Baruah, Country Representative, The Asia Foundation
Dwelling on the Inaugural Theme of “Logistics Beyond Boundaries – Creating Seamless Movements”, Mr. N S Nigam stressed on seamless connectivity towards economic integration and cooperation. He emphasized on the important strategic position of West Bengal, with all the economic corridors in the East ending up in the State. He pointed out that logistics cost is about 14% in India but only about 8% in other countries.
Mr. Abdul Matlub Ahmad pointed out that the new thinking is whether countries in the region can work together without borders and yet retain their sovereignty. SAARC was faced with trust deficit, the countries in BIN, however, think alike and agree on issues. Mr. Toufique Hasan mentioned that plans are on to connect Bangladesh with the Bay of Bengal through BIMSTEC. He spoke about connecting the hinterland with Kolkata & Chittagong Ports, use of Mongla Port in Bangladesh, and also Agartala – Akhaura railway. Mr. Amit Kumar Gupta said that most states other than West Bengal have adopted new axle norms. Recently, fuel prices have risen substantially due to rise in crude oil prices. Fuel is 60 p.c. of a transporter’s cost. Freight rates have not kept pace with rise in fuel costs. Mr. Sabyasachi Mitra said that ADB is committed to spending USD 1 billion each year on economic corridors in India. He spoke about lack of multi modal hubs in India, over reliance on road freight in India, need to lower transaction costs in the country. Ms Nandita Baruah said there are many structural issues regarding surface trade that need to be addressed. Inland waterways have become an area of discourse and they are important for landlocked countries such as Nepal and Bhutan.
Earlier, Mr. Vishal Jhajharia, President, MCCI in his Welcome Address said that India at present, ranks 44th in the latest edition of the World Bank’s Logistics Performance Index, a relatively high score compared to other countries with similar income levels. The India initiated Kaladan multi modal transit transport project aims to connect the Bay of Bengal to Rakhine and Chin hinterland of Myanmar and there onto Mizoram in India using sea, river & road. The Session ended with a hearty Vote of Thanks by Mr. Lavesh Poddar, Chairman, Standing Committee on Logistics, Transport & Warehousing, MCCI.
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Panel Discussion I: ‘India’s Logistics Sector and Integration with neighbouring countries through Waterways and Railways’ Speakers at the Session were : Session Moderator: Mr. Abdul Matlub Ahmad, President, India - Bangladesh Chamber of Commerce & Industry (IBCCI) Guest of Honour: Mr. Vinit Kumar, I.R.S.E.E, Chairman, Kolkata Port Trust Mr. Jahangir Bin Alam, CEO & Secretary, IBCCI Mr. Rameshwor Pokharel, Deputy Consul General, Consulate of Federal Democratic Republic of Nepal in Kolkata Ms. Shahanaj Akhter Ranu, Counsellor (Political), Bangladesh Dy High Commission, Kolkata Mr. Rajiv Agarwal, Director, Tirupati Vessels Pvt. Ltd
Mr. Vinit Kumar, I.R.S.E.E, Chairman, Kolkata Port Trust said that now Kolkata Port has two floating cranes to unload the shipments from larger ships and then transported through barges to Kolkata and Haldia Ports for further transporting them to their destinations. Mr. Jahangir Bin Alam observed that BIN MVA provides a boost to land locked regions, as these regions will gain access to global markets. Eight corridors have been identified through which most trade between BIN countries takes place. Mr. Rameshwor Pokharel pointed out Nepal is facing many challenges as it is a land locked country and the transaction cost of international trade is high and BIN MVA holds a big potential for Nepal. Ms. Shahanaj Akhter Ranu mentioned that India has given duty free access to garments from Bangladesh. The Agartala–Akhaura project will boost growth. Mr. Rajiv Agarwal said that West Bengal is a trading hub which can emerge as the logistics centre for North East, Bhutan and Nepal. Panel Discussion II: ‘India’s Transportation Challenges and Opportunities with neighbouring nations with a focus on Roadways and BBIN-MVA’ Speakers at the Session were : Speaker cum Session Moderator: Col. Prashant Kumar Mishra, Director (Operations), Land Ports Authority of India, Ministry of Home Affairs, Govt. of India Mr. Tanmay Chatterjee, General Manager (Finance), Indian Oil Corporation Ltd. Mr. Motiar Rahman, CEO, Sharothi Enterprise, Bangladesh Mr. Sunil Agarwal, CMD, CTI Logistics Pvt. Ltd, General Secy, CGTA & Secy East, AITWA Dr. Anasua Basu Ray Chaudhury, Fellow, Observer Research Foundation Col. Prashant Kumar Mishra informed that the there are five land ports at present at Attari, Raxaul, Agartala, Petrapole and Jogbani. Mr. Tanmay Chatterjee said that the bilateral trade between India and BBN countries is about USD 23 billion. There is a need for better transport between India and Nepal. It makes sense for Bangladeshi trucks to service LPG to Tripura. Mr. Motiar Rahman pointed out that pilferage must be stopped in trans-shipment of goods. Benapole, on the Bangladesh side of the border has poor infrastructure. Truck detention is high and it is costly. Mr. Sunil Agarwal observed that Kolkata to Agartala is 1,600 km at present but only 485 km through Dhaka. If Indian vehicles could travel through Bangladesh, then logistics would improve. He stressed on skill development of truck drivers in international trade. Dr. Anasua Basu Ray Chaudhury said that BIN MVA is following the principal of acceptance of consensus. Bhutan has not ratified the MVA. ************
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Special Session with Dr. Satya Pal Singh, Hon’ble Minister of State for Human Resource Development and Water Resources, River Development & Ganga Rejuvenation, Govt. of India on ‘Higher Education Scenario in India’ on 6 December 2018 at Hotel Hindusthan International
The Chamber organized a Special Session with Dr. Satya Pal Singh, Hon’ble Minister of State for Human Resource Development and Water Resources, River Development & Ganga Rejuvenation, Govt. of India on ‘Higher Education Scenario in India’ on 6 December 2018 at Hotel Hindusthan International today. Addressing the Session as Chief Guest, Dr. Satya Pal Singh said that Central Government may set up a University, if land is given by West Bengal Government. He said higher education policies of India should have a forward looking approach, to train students not only for the present, but also for the future, 10–15 years from now. He spoke of restructuring of syllabus for Education by 2035. He said that in Harvard/MIT, curricula are made in futuristic mode, keeping in mind the expected developments in the next 20 years. He felt that there is no dearth of talent in India, only opportunities should be created. Dr. Singh pointed out that in order to enhance employability of students, 4–month Internship with industry has been made compulsory every year, for hands on experience. Besides, industrialists are also encouraged to take up teaching assignments in educational institutions. The Hon’ble Minister referred to certain initiatives of Govt. of India like : Global Initiative for Academic Networking (GIAN), to encourage taking up teaching assignments in India by prominent teachers from foreign universities by giving them USD 8,000 and USD 12,000 for one week & two weeks of teaching respectively and Prime Minister Research Fellowships to provide Rs. 70,000–Rs. 80,000 per month.
Dr. Pallab Dasgupta, Dean, IIT, Kharagpur spoke about restructuring of curriculum so as to facilitate cross pollination of ideas, creation of knowledge and an ambience of collaboration, not competition. He also spoke about certain initiatives of IIT, for providing support to MSMEs.
Rev. Dr. Dominic Savio, S.J., Principal , St. Xavier’s College, Kolkata felt that new initiatives should first be aimed at educators first, to redefine definition & boundaries of knowledge. He felt that the Gross Enrollment Ratio (GER) is around 25% at present should be raised to 30% in future.
Swami Shastrajnananda, Principal, Ramkrishna Mission Vidyamandira, Belur Math was of the opinion that creation of human resources should be given utmost value, with stability in policies & regulatory framework. There should be autonomy for institutions to frame their curriculum.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, President of the Chamber spoke about bridging the gap between qualitative and quantitative aspects of education. He said that India's higher education system is the world's third largest in terms of students, next to China & U.S. India educates approximately 11% of its youth in higher education as compared to 20% in China. There are about 882 universities, 34,193 colleges and 10,400 standalone institutions spread across the country. The Session ended with a hearty Vote of Thanks by Shri Samir Saraff, Chairman, Education & Skill Development Standing Committee, MCCI. *************
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MCCI Insurance Forum 2018 “Indian Insurance Industry: the next Wave of Growth” on 13 December 2018 at Hotel Lalit Great Eastern, Kolkata
The Chamber of Commerce & Industry organized MCCI Insurance Forum 2018 titled “Indian Insurance Industry: the next Wave of Growth” on 13 December 2018 at Hotel Lalit Great Eastern, Kolkata. Inaugural Session : Road Map for Vision 2025: Challenges, Opportunities & Way Forward. Speakers at the Inaugural Session were Chief Guest: Shri Nilesh Sathe, Member-Life, Insurance Regulatory and Development Authority of India (IRDAI) Conference Chairman: Shri Sidharth Pradhan, Director & GM, National Insurance Co.Ltd Shri Joydeep K. Roy, Partner & Leader, Insurance & Allied Businesses, PwC India Shri Praveen Gupta, MD & CEO, Raheja QBE General Insurance Co. Ltd. Smt. Jayashree Ranade, DGM, GIC of India Ltd. Shri Ashish Kumar Srivastava, MD & CEO, PNB MetLife India Insurance Co. Ltd.
Dwelling on the Inaugural Theme, Shri Nilesh Sathe said that “Insurance is never bought by head, it is always bought by heart, and hence the Insurance sector has a better connect with people”. Although both Penetration level and Insurance Density has increased in the country, the proportion of Sum Assured to GDP is still less than 50%.
Shri Sidharth Pradhan pointed out that the insurance industry is growing in scale and diversity and the limit for FDI in the insurance sector has been increased to 49%. He referred to certain flagship schemes, like Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana Pradhan Mantri Fasal Bima Yojana and Ayushman Bharat. Shri Joydeep Roy felt that India is under insured and there should be adequate coverage for all people through insurance. He spoke about lowering distribution costs and meeting customer expectations as key factors. Shri Praveen Gupta highlighted the significant changes in health and motor insurance. He said that many projections are based on past trends. However, Insurance industry will undergo a huge change as consumer preferences are changing continulusly. Smt. Jayashree Ranade observed that Insurance coverage for the poor would be the game changer. She said that three insurance companies have recently listed in the stock exchange. With respect to Pradhan Mantri Fasal Bima Yojana (PMFBY), agriculture has an inherent catastrophic risk. Shri Ashish Kumar Srivastava spoke about preparedness for the future and introduction of pension coverage in the ambit of insurance. He said that the Insurance sector offers vast opportunities keeping in mind that penetration is low in India. The global average is 3.3%, Japan has an insurance penetration of 6.3%, Korea is at 6.6%, China at 2.7%. India has a favourable demographic profile. Earlier, in his Welcome Address, Shri Anupam Shah, Former President of the Chamber said that Indian insurance industry is expected to grow to US$ 280 billion by FY 2020 and the insurance sector will be a strong contributor to India’s growth story BY 2025. However, overall insurance penetration in India reached only 3.69% in 2017 from 2.71% in 2001. The Session ended with a hearty Vote of Thanks by Shri Subodh Kumar Agarwal, Chairman, Standing Committee on Capital Market & Insurance, MCCI.
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Panel Discussion I: ‘Creating Value and Capturing Opportunities in the Emerging Digital Insurance Ecosystem’ Speakers at the Session were : Moderator - Shri S. V. Ramanan, CEO, CAMS Insurance Repository Services Ltd. Shri Ashish Kumar Srivastava, MD & CEO, PNB MetLife India Insurance Co. Ltd. – on Role of digitization and disruptive innovation in Life Insurance Industry Shri Abhishek Rungta, MD & CEO, Indus Net Technologies – on Delivering Transformative Customer experience through Digitization in Insurance Shri Vijay Kumar, CEO & Principal Officer, Go Digit General Insurance Ltd. on Digital Insurance: Riding a Tech-Powered Revolution Shri Sandip Chakraborty, CTO, Edelweiss General Insurance Co. Ltd – on Digitising Customer Journeys and the New Insurance Model
Shri S. V. Ramanan said that the common underlying theme in popular insurance products is ease of purchase, which is true for all insurance schemes. Shri Ashish Kumar Srivastava showed a video titled ‘Khushi’ which is India’s first Artificial Intelligence based insurance app, which provides services to customers. Shri Vijay Kumar said that in India, 80% of non-life insurance consists of 3 sectors viz. motor, health and crop. Non-life insurance penetration is 0.9% in India. Shri Sandip Chakraborty said that digital insurance involves a system of interface, a system of record keeping and a system of intelligence whereby more and more facilities can be given by the insurer to the customer. Shri Abhishek Rungta mentioned that time has come for insurance companies to transform themselves to become wellness companies. Insurance companies must convert to a protection business rather than a compensation business. Panel Discussion II: “Next gen Operations, Customer Service & New avenues for Growth” Speakers at the Session were : Moderator and Speaker - Shri Amit Roy, Director, PwC India Shri Subramanyam Brahmajosyula, Head-Underwriting & Reinsurance, SBI General Insurance Co. Ltd. – on Health Insurance: A Changing Paradigm Shri Debasis Sanyal, National Head, Retail & Agency Business, Magma HDI General Insurance Co. Ltd. – on Motor Insurance: The Changing Face of Motor Insurance in India Smt. Anjum Babaiah, Head – Fraud Products, Experian – on Fraud Detection & Solution for smoother Digital Insurance Smt. Sunita Chowdhurie, Dy. VP – Corporate, Tata Motors Insurance Broking & Advisory Services Ltd. – on Role of Insurance Intermediaries Shri Amit Roy said that 5~10% of claims are false. Fraud will increase with digitisation. A multi layered approach is needed to deal with fraud. Shri Subramanyam Brahmajosyula mentioned that about 60~80% of health expenses are borne out of pocket. Health insurance remains out of reach for most Indians. Shri Debasis Sanyal said that India has the fourth largest vehicle market in the world. Motor insurance is growing at the rate of 15~16% per year. Smt. Anjum Babaiah spoke about different three kinds of fraud viz. soft fraud, Deliberate fraud and Misrepresentation where the insured person does not state all the facts. Smt. Sunita Chowdhurie said that agents, brokers, web aggregators, etc. are intermediaries. The brokers’ share of the insurance business is growing rapidly. *****************
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Special Session on ‘Recent Changes in GST’ on 11 January 2019 at MCCI Conference Hall
MCCI organized a Special Session on on ‘Recent Changes in GST’ on 11 January 2019 at its Conference Hall. The Session was addressed by CA Arun Kumar Agarwal, Chairman, and CA Sushil Kumar Jain, Co–Chairman, Standing Committee on GST & Indirect Taxes, MCCI.
In his introductory remarks, CA Arun Kumar Agarwal said that the GST Council has brought in a lot of changes in rates & compliance procedures. On Refund, uploading of all supporting documents for the sanctioning of refund is proposed to be implemented soon. There will be no need of visting he Tax Department once this option is enabled.
In his powerpoint presentation, CA Sushil Kumar Jain said that although the objective of GST was to have ‘One Nation, One Tax and One Market’, and 4 GST rates viz. 5, 12, 18 & 28 are shown, actually there are 36 effective rates in GST. Although only one Annual return needs to be filed, GST payment of taxes would remain quarterly, along with simple declaration. He said that Special Category states to decide about composition limit within 1 week. He elaborately dealt with the Composition Scheme for Services sector. The due date for furnishing the annual returns in Form GSTR–9, GSTR–9A, and Reconciliation Statement in Form GSTR–9C for the Financial Year 2017–18 shall be further extended till 30.06.2019.
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Interactive Session with Smt. Tajinder Mukherjee, CMD, National Insurance Co. Ltd. on “Way Forward for Insurance Industry in India” on 29 January 2019 at MCCI Conference Hall
The Chamber organized an Interactive Session with Smt. Tajinder Mukherjee, Chairman & Managing Director, National Insurance Co. Ltd. on “Way Forward for Insurance Industry in India” on 29 January 2019 at its premises. Referring to the huge potential of the Insurance sector in India, Smt. Mukherjee said that in spite of the huge growth of the Indian insurance industry, which is expected to reach Rs. 1,80,000 cr. by the end of this financial year, the sector is still at a dismal 2% of the world figure. In India, Life Insurance accounts for 75% of total insurance and non-life for the rest, while the world figure for life : non-life is 55:45. In India, Insurance Penetration is around 3.3%, whereas the world figures are around 6.28%. Half of Indian population is middle class having a disposable income of 2 to 10 USD per capita per day, which shows that there huge untapped resources, she observed.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, MCCI President said that Indian Insurance industry is expected to grow to $280 billion by 2019–20, aided by the Centre's ‘Ayushman Bharat’ and other growth drivers like rising disposable incomes, presence of global players and easing of the regulatory regime. Gross premiums written in India reached $ 94.48 billion in FY 18 with $ 71.1 billion and $ 23.38 billion from life and non-life
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The Session ended with a hearty Vote of Thanks by Shri Subodh Kumar Agrawal, Chairman, Standing Committee on Capital Market & Insurance, MCCI.
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Discussion on ‘Settlement of Dispute Scheme 2019’ with Shri Adesh Kumar, Special Commissioner of Revenue and State Tax, GoWB and Smt. Nabanita Pal, Sr. Jt. Commissioner, Dte. of Commercial Taxes, GoWB, in association with O/o, Commissioner, Commercial Taxes, Govt of West Bengal on 29 January 2019 at MCCI Conference Hall
A Discussion on ‘Settlement of Dispute Scheme 2019’ was organized by the Chamber, in association with O/o, Commissioner, Commercial Taxes, Govt of West Bengal with Shri Adesh Kumar, Special Commissioner of Revenue and State Tax, GoWB and Smt. Nabanita Pal, Sr. Jt. Commissioner, Dte. of Commercial Taxes, GoWB, on 29 January 2019 at MCCI Conference Hall. The Session was presided over by CA Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes, MCCI, who introduced the Speakers and also delivered Opening Remarks.
Shri Adesh Kumar said that the West Bengal Taxation (Amendment) Laws 2018 has brought about changes in the West Bengal Sales Tax (Settlement of Dispute) Act, 1999, with effect from 19th December 2018. The Amendments have enlarged the scope of settlement of arrear tax, penalty, late fee or interest arising out of any proceeding including audit, special audit, assessment, appeal, revision, review or for recovery of arrear dues under several Acts. He insisted that the assessees should avail this golden opportunity and make use of it.
Smt. Nabanita Pal explained in details the procedure to be followed in submitting the application form and eligibility of cases. She also explained in detail, the amount to be paid for settlement of disputes under the various situations.
The Session ended with a hearty Vote of Thanks by Shri Sanjib Kothari, Co– Chairman, Standing Committee on GST & Indirect Taxes, MCCI.
**************** Symposium on Union Interim Budget 2019–20 on 2 February, 2019 at MCCI
The Chamber organized a Symposium on Union Interim Budget 2019–20 on 2 February 2019 with the following speakers : Shri N K Poddar, FCA, Senior Advocate, Supreme Court of India, Dr. Saikat Sinha Roy, Professor, Department of Economics, Jadavpur University Shri Amitav Kothari, FCA, Former President of MCCI & Managing Partner, Kothari & Co. CA Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes, MCCI
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Referring to Pradhan Mantri Kisan Samman Nidhi, in which 12 cr. small and marginal Indian farmers who have less than 2 hectares of landholding will get up to Rs. 6,000 per year as minimum income support in 3 equal instalments, Shri N K Poddar said that it would be very difficult to determine ownership of land, as the term ‘ownership’ includes ‘co–owners’ as well. This would lead to litigations immediately. Estimated expenditure of this measure to the tune of Rs. 75,000 cr. could have gone to raising Minimum Support Price or Crop Insurance substantially. On the rebate up to Rs. 5 cr. mark, he said that once the income exceeds Rs. 5 lakhs, it would be taxed at 12.5%. The concept of ‘Notional Income’ from House property would not help anybody, neither industry, nor Govt.
Prof Saikat Sinha Roy observed that the economy of India, 6th largest in the world, still has 76% informal economy in terms of production and employment. The Fiscal Deficit is still high at 3.4% exceeding FRBM targets, Revenue Deficit quite high; Balance of Payments Deficit alarming at 2.5% of GSP, Unemployment rate is the highest now, in the last 45 years. Under these circumstances, instead of going for a slew of populist measures in this Budget, Government should have increased investment in infrastructure, as the economy is in imminent crisis. There is no measure for industry and MSME sector, facing a slow down.
Shri Amitabh Kothari said that this Budget, full of Financial Jugglery, had been a Please–All Budget with an eye on elections. He pointed out that a total relief of Rs. 23,200 cr. to the tax payers had been announced in the Budget, which included rebate on Income Tax up to 5 lakhs, raising of the TDS threshold from Rs. 10,000 to Rs.40,000/- as also pension scheme for the unorganized sector. The tax collections had doubled, no doubt, however, the Budget was silent as to from where the funds are going to come.
CA Arun Kumar Agarwal said that the GST Council being the supreme authority with the Central Government having only 33% of voting rights, all the major decisions regarding GST were being at the GST Council meetings, leaving little scope for the Union Budget.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, President of the Chamber said that the proposal of providing Rs. 6,000 per year to all land owners upto 2 hectares, might induce the farmers to divide and fragment their land further so that each member of the family could claim Rs. 6000. The ‘Rebate’ granted to individual tax payers up to an annual income level of Rs. 5 lakhs had been misunderstood by the common man as doubling the ‘exemption limit’.
The Session ended with a hearty Vote of Thanks by Shri Bharat Agarwal, Hony. Secretary of the Chamber. ********* Seminar on ‘Development of Food Processing Industries & Horticulture in West Bengal – The Road Ahead’ with Chief Guest : Janab Abdur Razzak Molla, Hon’ble Minister for Food Processing Industries & Horticulture, Govt. of West Bengal on 12 February 2019 at Hotel Lalit Great Eastern, Kolkata
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The Chamber organized a Seminar on ‘Development of Food Processing Industries & Horticulture in West Bengal – The Road Ahead’ with Chief Guest : Janab Abdur Razzak Molla, Hon’ble Minister for Food Processing Industries & Horticulture, Government of West Bengal on 12 February 2019 at Lalit Great Eastern Hotel.
The Seminar was also addressed by: Smt. Nandini Chakravorty, IAS, Principal Secretary, Food processing Industries & Horticulture Ministry, Government of West Bengal Dr. P.K. Pramanick, Director, Horticulture Department, Government of West Bengal Prof. Dilip Kumar Swain, Agricultural & Food Engineering Deptt., IIT, Kharagpur
Addressing the House Janab Abdur Razzak Molla said that the main bottleneck has been the mismatch between production and business. Agriculture will not survive if the same is not converted into agri business. This assumes all the more importance as 68% of the population is still dependant on agriculture and farming. He urged on the need to increase farmers’ income, to ensure remunerative price for his products, so that farmers don’t lose their inclination to plough back the surplus. Since huge land for mechanized farming is not available in West Bengal and most of the framers are small & medium, the Hon’ble Minister emphasized on the importance of Participatory Farming, by which land & labour to be provided by the farmers and inputs & technology to be provided by private entrepreneurs bearing the business risks to reap profit. The Govt will play the role only of a facilitator.
Smt. Nandini Chakraborty spoke about the move of the agri sector from supply driven on to demand driven. To prevent post–harvest losses, which is as high as 30%, she spoke about 3 types of precautions viz. pre–harvest like vermin compost, pest management; protective cultivation like large area covered and low cost post harvest infrastructure. She spoke about setting up 3 pack houses in each district with PPP. She also mentioned about a tech intensive Centre of Excellence in Chuinsurah with technology from Israel, to be commissioned by the year end. She invited investments for the food processing sector.
Dr. P.K. Pramanick stressed on the importance of interface and intervention between Government and private entrepreneurs to find out a solution for farmers & consumers. Serious intervention is required in infrastructure, greenhouses, and multipurpose cold chain facilities.
Prof. Dilip Kumar Swain observed that Food Security should mean not only access to food by all, but also access to balanced diet & nutrition, with vitamins/ minerals, other than carbohydrates & protein. Organic Farming is the only answer, he felt.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, President, MCCI, said that farmers in West Bengal engaged in horticulture face challenges like lack of adoption of new technologies, dearth of capital, lack of proper knowledge for use of pesticides, lack of proper cold chain storage facilities etc. He also spoke about Participatory Farming between Farmers’ Producers Companies & private companies to grow/produce fruits & vegetables of choice.
The Session ended with a hearty Vote of Thanks by Shri Santosh K Roongtaa, Chairman, Standing Committee on Agriculture & Food Processing of the Chamber. **********************
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MCCI Bengal Agri-Business Forum ‘Driving Agri-Business through electronic National Agriculture Market (eNAM) Platform & Farmer Producer Organisations (FPOs)’ on 18 February at Hotel Oberoi Grand, Kolkata
The Chamber organized ‘MCCI Bengal Agri-Business Forum’ on ‘Driving Agri-Business through electronic National Agriculture Market (eNAM) Platform & Farmer Producer Organisations (FPOs)’, on 18 February 2019 at Hotel Oberoi Grand which was addressed by : o Shri P. K. Mazumdar, Adviser to the Hon’ble Chief Minister, Govt. of West Bengal on Agri & Allied Department o Shri Naveen Prakash, IAS, Additional Chief Secretary, Department of Agriculture, Irrigation & Waterways, Government of West Bengal o Shri Rajesh Kumar Sinha, IAS, Secretary, Department of Agricultural Marketing, Govt. of West Bengal o Shri Arvind Sharma, Head, eNAM, Nagarjuna Fertilisers and Chemicals Limited (NFCL) (Strategic Partner, SFAC) o Smt. Ms. Bharti Joshi, MD & CEO, Indian Grameen Services and o Shri Pradip Singha, CEO, Sonar Bangla, Farmer-Producer Company (FPC)
Shri P. K. Mazumdar dwelt on the problem of surplus food production in West Bengal which has not been addressed so farmers are suffering from poor prices.
Shri Naveen Prakash felt that modern digital platforms such as eNAM can cater to unfulfilled need for logistics between buyer and seller. Govt of West Bengal has been trying to improve the agriculture infrastructure in the State, rural connectivity has improved.
Shri Rajesh Kumar Sinha stated that eNAM is giving efficient outcome in other States but not in West Bengal. eNAM is not good for small and marginal farmers with very small crops, an aggregation system is needed that collects small lots.
Shri Arvind Sharma said that eNAM is currently covering 585 large markets in 16 states. States such as Andhra Pradesh, Telangana and Chhattisgarh have shown good results. Prior to eNAM, a farmer was restricted to one mandi and limited to a few traders and buyers. Smt. Bharati Joshi mentioned that farmers are moving up the value chain and selecting intermediaries. FPCs in West Bengal have the spirit of innovation. Shri Pradip Singha said that among other activities, Sonar Bangla is selling pineapple across India, the same is being converted to jams and jellies, as per demand.
Earlier, Shri Vishal Jhajharia, President, MCCI in his welcome address said that the share of e-NAM in India’s total food grain distribution has been low since its inception in April 2016. GoI has identified Farmer Producer Organisation (FPO / FPC) as the most appropriate institutional form to mobilize farmers and build their capacity. The Forum ended with a Hearty Vote of Thanks given by Shri Aakash Shah, Co- Chairman, Standing Committee on Agriculture and Food Processing, MCCI. ***************
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Seminar on ‘Way Forward to “Skill Bengal”: Reforms, Challenges and Imperatives’ with Shri Purnendu Basu, Hon’ble Minister, Department of Technical Education, Training & Skill Development, Government of West Bengal on 19 February 2019 at MCCI Conference Hall
The Chamber organized a Seminar on ‘Way Forward to “Skill Bengal”: Reforms, Challenges and Imperatives’ with Shri Purnendu Basu, Hon’ble Minister-in-Charge, Dept. of Technical Education, Training & Skill Development, Government of West Bengal, on 19 February 2019 at MCCI Conference Hall.
The Seminar was also addressed by Dr. Surjya Kanta Pal, Professor, Deptt. of Mechanical Engineering, IIT, Kharagpur and Professor-in-Charge, DHI Centre of Excellence in Advanced Manufacturing Technology and Swami Dhyeyananda, Principal, Ramakrishna Mission Shilpapitha, Belgharia.
Shri Purnendu Basu said that India faces a serious shortage of skilled workers. Only about 2% of workers have received skill training. The skill gap should be idenfied and bridged through experts. The demographic dividend can be reaped through skill initiatives that increase productivity. The Govt. of West Bengal recognizes the importance of developing skills with an integrated approach. The Dept. of Technical Education, Training & Skill Development, Government of West Bengal launched ‘Utkarsh Bangla’ in 2016 to deliver skilling on a holistic basis. Capacity building is taking place through ‘Utkarsh Bangla’. The programme aims to create an industry ready workforce. It trains 6 lakh youth annually under this Scheme. The Govt. of West Bengal is providing training at ITIs as well as other institutions including private public partnerships. The portal has been a success and it has allowed convergence of different stakeholders.
Dr. Surjya Kanta Pal said that IIT Kgp. has set up a Centre of Excellence in Advanced Manufacturing Technology under the support of Dept. of Heavy Industries, GoI and other private bodies. The Centre drives innovation and quality research focused on industries.
Swami Dhyeyananda said that Ramakrishna Mission Shilpapitha, Belgharia is a polytechnic committed to producing brilliant workers with good character from economically backward families. Ramakrishna Mission Shilpapitha produces students who are employable and industry ready. Its graduating students are hired by the best companies of India.
Earlier, Shri Vishal Jhajharia, President, MCCI in his welcome address said that as per some reports, India is still seen as a hugely "unskilled" country. Demand and supply mismatch is central to the issue of skills, employability and employment opportunity. In West Bengal, we have 43 Government ITIs, 138 private ITIs and 75 ITIs in PPP mode. There is a huge ethics and accountability issue, if there is no credible assessment board and when there are too many sector councils, each trying to maximize their business.
The Session ended with a Hearty Vote of Thanks given by Shri Samir Saraff, Chairman, Standing Committee on Education & Skill Development, MCCI. ***************
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Interactive Session on ‘Indian Mutual Fund Industry: The Next Phase of Growth’ with Shri S. V. Murlidhar Rao, Executive Director, Securities and Exchange Board of India (SEBI) on 23 February 2019 at MCCI Conference Hall
The Chamber organized an Interactive Session on ‘Indian Mutual Fund Industry: The Next Phase of Growth’ with Shri S. V. Murlidhar Rao, Executive Director, Securities and Exchange Board of India (SEBI) on 23 February 2019 at MCCI Conference Hall. Shri Rao said that the Asset Under Management (AUM) of the Mutual Fund industry has doubled in the last three years. While there are about 8 crore folios, the number of investors is about 2 crores. SEBI has reduced the Total Expense Ratio (TER) of Mutual Funds. Shri Rao explained that the expense structure for Mutual Funds was designed in 1996, when the total AUM of the industry was only Rs. 15,000 crores. Since their total AUM is now about Rs. 23 lakh crore and Mutual Funds are benefitting from economies of scale, the TER was reviewed and the new TER will be effective from April 2019. Shri Rao further said that SEBI has implemented policies that channelize household savings to financial assets. Formerly, Mutual Funds had to publish all NAV on AMFI website which has been done away with. Now, the investor can register their mobile number and get daily NAV of Mutual Fund through sms.
Earlier, Shri Vishal Jhajharia, President, MCCI in his welcome address said that the AUM of the mutual fund industry stood at Rs. 23.37 Lakh Crore) as on 31st January, 2019. ‘Mutual Funds Sahi Hai’ campaign by AMFI has created greater awareness about mutual funds across potential investors.
The Session ended with a hearty Vote of Thanks by Shri Subodh Kumar Agrawal, Chairman, Standing Committee on Capital Market & Insurance, MCCI. ***************** Interactive Session on 'The Biggest Economic Reform – The Insolvency & Bankruptcy Code'. on 2 March 2019 at MCCI Conference Hall
The Chamber, in association with NCLT Kolkata Bar Association and International Women’s Insolvency & Restructuring Confederation (IWIRC), organized an Interactive Session on the 'The Biggest Economic Reform – The Insolvency & Bankruptcy Code', on 2 March 2019 at its Conference Hall. The Session was addressed by Shri S M Gupta, President, NCLT Kolkata Bar Association and Shri S P Chatterjee, Registrar, NCLT Kolkata.
Shri S P Chatterjee read out the message of the President, NCLT Kolkata, which could not attend the Session. He spoke about the infrastructural issues on the Kolkata Bench of NCLT. He said that out of the 1319 cases received under Insolvency and Bankruptcy Code, 432 cases have been disposed off. Shri S M Gupta pointed out that with the introduction of IBC, defaulters’ paradise has been lost. Earlier, in her Welcome Address, Smt. Mamta Binani explained the role of Insolvency Resolution Proferssional and the role of Committee of Creditors under IBC. She informed that 75% companies going for liquidation are either sick and/or under BIFR. *****************
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MCCI Durgapur–Asansol–Raniganj Forum 2019 on “Facilitating Sustainable & Inclusive Growth” on 9 March 2019 at the Citi Residenci Hotel, Durgapur
The Chamber organized MCCI Durgapur–Asansol–Raniganj Forum 2019 on “Facilitating Sustainable & Inclusive Growth”, the first ever reach out programme in the industrial belt, on 9 March 2019 at The Citi Residenci Hotel, Durgapur. The Forum was addressed by Shri Swapan Debnath, Hon’ble MoS for Micro, Small & Medium Enterprises & Textiles and Animal Resources Development (Ind. Charge), Govt. of West Bengal as Chief Guest. Shri Tapas Banerjee, Hon’ble Member of West Bengal Legislative Assembly & Chairman, Asansol–Durgapur Development Authority addressed the Forum as Guest of Honour. The Forum was also addressed by the following distinguished Speakers : Shri Subhas C Agarwalla, President, Federation of South Bengal Chambers of Commerce & Industry (FOSBECCI); Shri Sandeep Bhalotia, President, Raniganj Chamber of Commerce; Shri Naresh Agarwal, President, Asansol Chamber of Commerce; Shri Bimal Patwari, CEO, Pinnacle Infotech Solutions; Shri Sujit Kumar Dutta, CMD, Vivekananda Hospital; Shri Ram Shankar Sharma, Executive Director, BDG Metal & Power Ltd. and Prof. Alok Satsangi, Principal, N S H M School of Business & Management.
The Forum generated a huge response amongst the local business community, corporate sector and the local Chambers of Commerce including FOSBECCI, Durgapur Chamber of Commerce, Raniganj Chamber of Commerce, Asansol Chamber of Commerce, Bankura Chamber of Commerce, Barakar Chamber of Commerce and other organizations, who attended the Forum in huge numbers. The Forum was also attended by Shri A R Sonthalia, Trustee and Past President of the Chamber.
Shri Swapan Debnath said that under the able leadership of the Hon’ble Chief Minister, the state has witnessed an industrial resurgence and a phenomenal growth, particularly in the MSME sector. West Bengal has the highest number of MSME units in the country with 52.7 lakhs units generating employment for 1.10 cr of people. This huge growth is reflected through credit delivery of Rs. 1.74 lakh cr. to the MSME sector in 2017–18, which increased from Rs. 40,000 in 2010–11. The Hon’ble MoS mentioned that there is a huge potential in Durgapur–Asansol–Raniganj region, which the business community should utilize and explore for the benefit of the state. He also referred to the huge shale gas reserves in the Coal Bed Methane (CBM) blocks in this industrial belt, which could attract thousands of crores of investment. He assured that while framing the next Incentive policy, adequate attention would be given to all the important issues raised by different Chambers of Commerce.
Shri Tapas Banerjee said that the employment generation in the private sector is much higher than that in the public sector. Stressing on problem solving through discussion,
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Shri Subhas Chandra Agarwalla said that skilled labour would provide India the competitive advantage. He stressed on enhancement of productive employment to jumpstart the growth, with strong focus on education and higher education. He felt that involvement of private sector is crucial to boost inclusive growth and manufacturing sector has a huge role to play. Adequate importance should be given to the agri sector, constituting 53% of man force.
Shri Sandeep Bhalotia mentioned that Durgapur–Asansol–Raniganj belt, known as the ‘Ruhr’ of India, is famous not only for industries but also for mining. Entrepreneurship, including start–ups and women entrepreneurship is also the highest in this belt.
Shri Naresh Agarwal felt that the systems and the mindsets are Kolkata centric, which should change. He said that the Hon’ble Chief Minister is very proactive to facilitate inclusive growth and also mentioned about the monthly video conferences with DMs.
Shri Bimal Patwari said that in spite of having all the ingredients of growth like availability of land, skilled labour, cheap raw materials, access to best education and others, Durgapur–Asansol–Raniganj belt is still stuck at the same growth level. Government, undoubtedly, is an enabler, providing infrastructure ensuring law & order, but there has been too much of dependence on the Govt, state or central. Start–ups should believe in themselves and go ahead with setting up their dream projects.
Shri Sujit Kumar Dutta was of the opinion that there is a huge demand for trained nurses and the demand–supply gap is found to be as high as 5 lakh trained personnel. He spoke announced that Vivekananda Hospital would set up a medical tourism unit in Durgapur.
Shri Ram Shankar Sharma said that all the indicators of growth like Steel and cement are present in this industrial belt. He spoke about the problems regarding bad road conditions to Barjora, which should be improved.
Prof. Alok Satsangi expressed concern over the exodus of professionals out of West Bengal and said that either students move out of the state for higher studies or move out to jobs outside the state after completion of higher studies.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, President of the Chamber said that the traditional industrial base of Durgapur–Asansol–Raniganj region chiefly supported by coal, iron and steel has undergone a rapid diversification with emergence of new industrial ventures which include heavy engineering, fertilizers, coal-based chemicals & cement. The roadmap should include unleashing the full potential for the region, with focus on identification of the key business issues and challenges and highlighting the success stories. The Session ended with a hearty Vote of Thanks by Shri Surendra Keyal, Committee Member and Immediate Past Hony. Secretary, MCCI. *****************
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Special Session ‘Anti-Profiteering in GST’ with Shri B. N. Sharma, IAS, Chairman, National Anti-Profiteering Authority (GST) on 15 March 2019 at MCCI Conference Hall
The Chamber organised a Special Session with Shri B. N. Sharma, IAS, Chairman, National Anti-Profiteering Authority (GST) (NAA) on ‘Anti-Profiteering in GST’ on 15 March 2019 at the Conference Hall of the Chamber. Shri Sharma differentiated between the concept of profit and profiteering. He explained that profit is normal for any business but profiteering out of reduction in GST is un-lawful under Sec.171 of the CGST Act. Rules 122 to 137 of CGST rules 2017 empower the constitution of NAA and covered the details of anti- profiteering measures. He cited a number of case studies on which profiteering could be identified and should be passed on to the consumers. He also mentioned that anti-profiteering rules are not violative of any Article of the Indian constitution.
Earlier in his Welcome Address, Shri Vishal Jhajharia, President, MCCI welcomed the introduction of anti-profiteering legislation and the constitution on NAA to safeguard the consumers’ interest.
The Session was also attended by Shri Amrit Lal Singh Puri, Principal Chief Commissioner, CBIC and Shri Rajiv Gupta, Commissioner, CGST, Kolkata. The Introductory Remarks were delivered by CA Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes, MCCI. The Session ended with a hearty Vote of Thanks by CA Sushil Kumar Goyal, Co– Chairman, Standing Committee on GST & Indirect Taxes, MCCI. ***************** Session on ‘Demat of Unlisted Companies & its Shares & e-voting of Stakeholders’ with Shri Nitin Ambure, Vice President (Operations), Central Depository Services Ltd. on 15 March 2019 at MCCI Conference Hall
The Chamber organized a Session with Shri Nitin Ambure, Vice President (Operations), Central Depository Services Ltd. (CDSL) on ‘Demat of Unlisted Companies & its Shares & e-voting of Stakeholders’ on 15 March 2019 at MCCI Conference Hall. Shri Ambure said that transfer of listed companies shares is allowed only through demat mode except in case of transmission or transposition of securities mandated by a SEBI notification number SEBI/LAD-NRO/GN/2018/24 dated 8th June 2018 on Listing Obligations and Disclosure Requirements (LODR) Regulations. SEBI had granted relaxation in timelines for processing of DRNs to 30 days till 30 June 2019 from current 15 days.
Earlier, in his Welcome Address, Shri Sanjay Rasiwasia, Chairman, Standing Committee on Banking & Finance, MCCI said that while unlisted public companies are expected to facilitate the dematerialisation of their securities in coordination with depositories The Session ended with a hearty Vote of Thanks given by Shri Manoj Saraf, Member, Standing Committee on Capital Market & Insurance, MCCI. *****************
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MCCI Retail Forum 2019 ‘E-Retail Vs Brick & Mortar Retail : Convergence for a Better Living’ on 20 March 2019 at Hotel Taj Bengal, Kolkata
The Chamber organized MCCI Retail Forum 2019 on the theme “E–Retail Vs Brick & Mortar Retail : Convergence for a Better Living” on 20 March 2019 at Hotel Taj Bengal, Kolkata. Inaugural Session – “Indian Retail : Current Trends & Future Prospects”
The Inaugural Session was addressed by Shri Sadhan Pande, Hon’ble Minister, Departments of Consumer Affairs and Self Help Group & Self Employment, Government of West Bengal as Chief Guest. Other distinguished Speakers were : Shri Vipul Sabharwal, Managing Director, Luminous Power Technologies (P) Ltd. Shri Bijou Kurien, renowned retail expert
Shri Sadhan Pande, in his Address as the Chief Guest said that two thirds of India’s 130 crore people live in villages. For inclusive growth, the rural masses should have access to the same products, services and luxuries available to the urban population. Branded products are selling at a lower price online than in stores. So, buyers are visiting shops to see products and window shop and then they are buying online. Consequently, shops have become showpieces of what to buy online with maximum discount. West Bengal was the first state to have a dedicated Consumer Affairs Department. Companies will be penalised by the Department of Consumer Affairs for false advertisements. Firms should exercise restraint so that the Department does not have to visit them.
Shri Vipul Sabharwal said that e-retail and brick & mortar retail will continue to co- exist and the best way going forward for organizations will be to embrace change and innovate. India has a population of 1,347 million of which 34% are in urban areas. The country has 462 million Internet users and the penetration is 34%. E-retail is growing due to increasing Internet penetration and evolving consumer purchase behaviour.
Shri Bijou Kurien said that new business models and new ways of dissemination of information would evolve with new ways of advertising and new ways of life for farmers. He felt that the essence of Retail has remained the same, only the mode of selling has changed over time. He mentioned that India has a large market of $750 billion growing at 7~8% annually, dominated by independent retailers numbering 13 million contributing to 90% of retail sales. Modern retail is growing at 20% per annum and is contributing around 8~9%.
Earlier, in his Welcome Address, Shri Vishal Jhajharia, MCCI President said that retail accounts for over 10% of GDP and is the 2nd largest employer after agriculture, which accounts for about 8% of India’s employment. India is considered as the world’s 5th largest global destination in the Retail space. While India allows 100% FDI in the marketplace model of e-commerce, which it defines as a tech platform that connects buyers and sellers, it has not allowed FDI in inventory-driven models of e-commerce.
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In his Theme Address, Shri Namit Bajoria, Chairman of Retail Standing Committee, MCCI said that the convergence of brick and mortar retail and e-retail is happening and the gap is narrowing day by day. E-retail is rapidly growing on account of large population, rapid digitisation, secure transactions & payment and other favourable factors. Brick and mortar retail and e-retail enjoy a symbiotic relationship and not a parasitic relationship.
Panel Discussion on “E–Retail Vs Brick & Mortar Retail : Convergence for a Better Living”
Moderator : Shri Viresh Oberoi, Founder & Former CEO, mjunction Services Ltd. Panelists were : Shri Gaurav Marya, Chairman & Founder, Franchise India Group Shri Atanu Ghosh, Founder & CEO, Salt & Soap and Founder & CEO, Bluebeaks Shri R Ajay, Chief – Strategic Planning, Business Development, & New Stores Ventures, Future Lifestyle Fashion Limited Shri Aji Issac Mathew, CEO & Co-founder, Indusnet Techshu Digital Pvt. Ltd.
Shri Viresh Oberoi spoke about how to reduce the inventories and increase the freshness of the products, differentiate the business models where brick & mortar is at the front end.
Shri Gaurav Marya said that it is no longer online vs offline or organized vs unorganized, it is all about good operator vs bad operator. The consumption patterns are changing. Both online and offline retailers should study consumption patterns.
Shri Atanu Ghosh said that e-retail is only 10% globally, 3% in India and around 20% in China, so that there is a huge opportunity for e-retail to grow. Products that may be bought without assistance and are sold on the basis of specifications may be suitable for e- retail, like laptops and mobile phones. On the other hand, fruits/ vegetables are brought using our sensory perception and are not ideal for e-retail.
Shri R. Ajay said that with whatever one does in retail, the actions must be centred around the customer. He mentioned about 4 Ws in retail viz, Why, Who, What & Where. Brick and mortal retailers can service customer needs up to Tier 3 towns.
Shri Aji Issac Mathew spoke about the importance of communication with the customers as also the change of mindset to go digital. He said that the Digital medium is powerful and India has about 460 million Internet users. A change in the mindset is important and one should not fear Digital medium and we should understand that it is meant for everyone.
The Forum ended with the summing up and hearty Vote of Thanks by Shri Pulkit Baid, Co-Chairman, Standing Committee on Retail Trade, MCCI. *********************
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2nd Workshop Series on Performance Enhancement through Behavioural Change Motivation and Positive Attitude Development for Success on 23 March 2019 at MCCI Conference Hall
The Chamber organized the 2nd Workshop on Performance Enhancement through Behavioural Change : Motivation and Positive Attitude Development for Success on 23 March 2019 at MCCI Conference Hall. The Workshop was addressed by Shri Sudip Sen, Licensee, Leadership Management International (LMI).
Shri Tushar Basu, Chairman, HRD Standing Committee, MCCI in his Welcome Address said that Success is Goal Directed Action. The Key Attributes of Successful people are that they are : Self – Motivated, Goal – Directed, Passionate/ Enthusiastic. Shri Tushar Basu explained that the key in understanding the process of motivation lies in the meaning of, and relationships among, needs, drives and incentives. Shri Basu spoke about Maslow’s Motivation, Hertberg’s Motivation and elaborated on the Benefits of Motivation and Positive Mental Attitude. He also dwelt upon the power of Written Goals.
Shri Sudip Sen explained that Positive Attitude is to create new ideas and continue to do so. He pointed out that those desirous of vast self improvement in performance and productivity should engage in 360 degrees feedback and feed forward accordingly. He covered the following topics :
Time Management for self assessment Motivation Personal Productivity Initiative Striving for success and happiness How to create an affirmation Attitudes Towards Oneself Identifying High Priority Activities
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MCCI MSME Help Desk
MCCI MSME Help Desk is a joint initiative of the Chamber with Department of MSME & Textiles, Govt. of West Bengal, in which M/s. Suvidha Consultants is a Technical Partner. The Help Desk was inaugurated by Shri Rajiva Sinha, IAS, the–then Additional Chief Secretary, Department of MSME & Textiles, Government of West Bengal on 17th April, 2018 at MCCI.
The objectives of the Help Desk are to help MSMEs leverage the opportunities and explore solutions to the key issues, in which where domain and subject matter experts will be available for mentoring, handholding and consultation for the MSME units.
The Mentor Panel for the Help Desk includes : Shri Rajkumar Middya, Joint Director (P&S), MSME, Govt. of West Bengal – Chief Mentor Shri Sanjib Kothari, Co Chairman, Standing Committees on Foreign Trade and GST & Indirect Taxes, MCCI, Shri Smarajit Mitra, Co Chairman, Banking & Finance Standing Committee, MCCI Shri Akhil Sonthalia, Co Chairman, MSME Standing Committee, MCCI Other domain experts.
MSME Help Desks were held on :
Help Desk Date
1st Help Desk 10th May 2018
2nd Help Desk 14th June 2018
3rd Help Desk 12th July 2018
4th Help Desk 16th August 2018
5th Help Desk 13th September 2018
6th Help Desk 14th December 2018
7th Help Desk 17th January 2019
The Helpdesks were well attended by members, select non–members & entrepreneurs, who interacted with the Mentors on a one–on–one basis in the following areas : Finance, Banking and Project Appraisal GST and Taxation Marketing & Branding Labour Relations Statutory Compliances Exports Miscellaneous ****************
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OTHER IMPORTANT EVENTS
Seminar on "Indian Steel Industry – Success & Survival Stratgies”
The Chamber jointly with Steel & Metallurgy organized a Seminar on "Indian Steel Industry – Success & Survival Strategies” on 25 May 2018 at The Gateway Hotel, Kolkata. The Seminar was addressed by an esteemed panel of domain experts.
Shri Deepak Kumar Agarwal, Co–Chairman, Standing Committee on Steel of MCCI delivered the Welcome Address and participated in the Panel discussion. **********
Workshop on ‘Accelerating Exports’ by Government of West Bengal
The Government of West Bengal organised a Workshop on ‘Accelerating Exports’ on 18 June 2018 at ITC Sonar to promote exports from West Bengal to discuss strategies to create an enabling environment for exports, enhance existing exports and promote new items of exports. Dr. Amit Mitra, Hon’ble Finance & Industries Minister, Government of West Bengal was the Chief Guest. The Workshop was addressed by Senior Secretaries from Govt. of West Bengal, representatives from commodity boards, export promotional councils, export leaders, export financing institutes, academia, research institutes.
At the Workshop, the Chamber was represented by Shri Ramesh Agarwal, President, MCCI, Shri Vishal Jhajharia, Senior Vice President, MCCI, Shri Sanjib Kothari, Co-Chairman, Standing Committee on Foreign Trade, MCCI, Shri Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes, MCCI and Shri Suresh Agarwal, Co-Chairman, Standing Committee on Agriculture & Food Processing, MCCI.
**********
15th Finance Commission Meeting
Shri Ramesh Agarwal, President, MCCI attended the meeting on 15th Finance Commission on 17 July 2018 at Nabanna Sabhaghar. In this regard, the Chamber submitted ‘Points for Consideration’ to the Chairman, 15th Finance Commission. **********
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82 Meeting at WBIDC for Mid Career Training Shri Sanjib Kothari, Co-Chairman, Standing Committee on Foreign Trade, MCCI attended a meeting on 17 July 2018 at WBIDC on the occasion of State Attachment under Mid Career Training Programme, conducted by Shri Arun Kumar Chatterjee, IFS 1992 batch, Ministry of External Affairs, Govt. of India. ********** relating to land for their industries MSME Conclave titled “Taking attended the meeting chaired by the Bengal MSMEs to the Commissioner. Next Level” ********** ‘Dare to Dream Awards’ by ZEE The Government of West Bengal Business organized a 2– Day MSME Conclave titled “Taking Bengal MSMEs to the The Kolkata edition of Zee Next Level” on 20~21 August 2018 at Business ‘Dare to Dream Awards’ was Biswa Bangla Convention Center, New held on 27 October 2018 at Hotel ITC Town, Kolkata. The Conclave was Sonar. MCCI was a Partner Chamber in inaugurated by Smt. Mamata this initiative. Shri Vishal Jhajharia, Banerjee, Hon’ble Chief Minister of President, MCCI delivered the Welcome West Bengal on 20th at 5 p.m. and was Address. The programme was attended conducted by Shri Amit Mitra, by many senior members of the Hon’ble Minister for Finance, Commerce Chamber. & Industries and MSME & Textiles, ********** Govt. of West Bengal. Meeting with the Director General of Hydrocarbons, Govt. of India The Chamber was represented Shri Vishal Jhajharia, President, by Shri Ramesh Agarwal, President, MCCI met Dr. V. P. Joy, IAS, Director MCCI and other senior members of the General, Directorate of Hydrocarbons, Chamber. Govt. of India, New Delhi on 2 ********** November 2018 to seek his valuable advice and guidance on future SYNERGY at the Directorate of initiatives of the Chamber in the oil & Land Records and Surveys, Govt. gas sector’. of West Bengal ********** A Meeting titled SYNERGY was Meet & Greet Bijoya Sammelan organized by the Directorate of Land A Meet & Greet Bijoya Records and Surveys, Govt. of West Sammelan was organized by the Govt. Bengal, on 24 August 2018 at the of West Bengal to celebrate Conference Hall of the Directorate to Bijoya on 14 November 2018 at 5 discuss issues of the industries relating p.m. at Eco Park. Smt. Mamta to land conversion, mutation and Banerjee, Hon’ble Chief Minister, West others. A few Members having issues Bengal graced the occasion. Shri
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83 Vishal Jhajharia, President of the The 5th edition of Bengal Global Chamber attended the Meet, on behalf Business Summit was organized by the of the Chamber. Govt. of West Bengal under ********** Chairpersonship of Smt. Mamata Meeting with the Principal Chief Banerjee, Hon’ble Chief Minister of Commissioner of Income Tax for West Bengal on 7~8 February 2019 at West Bengal & Sikkim Biswa Bangla Convention Centre, Shri Arvind Agrawal, Chairman, Rajarhat, New Town, Kolkata. The Standing Committee on Direct Taxes Inaugural Session was attended by and Shri M. C. Das, Dy. D.G. attended Shri Vishal Jhajharia, President and a meeting called by Smt. Seema other senior members. Khorana Patra, Principal Chief ********** Commissioner of Income Tax for West Meeting with Counsellor, Bengal & Sikkim on 11 December 2018 Economic Affairs, Embassy of The at the Conference Room of the Income Kingdom of Belgium in India Tax Office Kolkata. Smt. Patra along A meeting was held with Mr. with other senior Officers of the Guillaume Choquet, Counsellor Department apprised of the current Economic Affairs, Embassy of Kingdom collection of income tax scenario of of Belgium in India and Mr. Hubert Kolkata office. The problems of low Goffinet, First Secretary, Trade & realization of TDS, Advance tax, non- Investment, Wallonia–Brussels issue of TDS certificates etc. were also Economic Representation on 14 March discussed. 2019 at MCCI Conference Hall. MCCI ********** was represented by Mr. Souvik Meeting with Shri Alapan Banerjee, DG, MCCI, Mr.S.Roy, Bandyopadhyay, IAS, Addl. Chief DDG,MCCI and Mr.Rajiv Mukerji, Dy Secretary, Dept. of MSMEs & Secretary, MCCI. Textiles, Govt. of West Bengal ********** Shri Vishal Jhajharia, President, MCCI met Shri Alapan Bandyopadhyay, IAS, Addl. Chief Secretary, Dept. of MSMEs & Textiles, Govt. of West Bengal on 21 December 2018 at his office and requested him to offer some important role to MCCI in the forthcoming BGBS-2019. The President also invited him for an Interactive Session with Shri Bandyopadhyay in the month of January 2019 and he accepted the Invitation. ********** 5th Bengal Global Business Summit
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84 PRESS COMMUNIQUE 18.04.2018 A Press Communiqué was issued on an 04.04.2018 Interactive Session with Mr. Masayuki A press communiqué was issued on an Taga, Consul General of Japan in Interactive session with H. E. Mr. Ton Kolkata on “Strengthening Indo-Japan Sinh Thanh, Ambassador of the Relations in Free and Open Indo- Socialist Republic of Vietnam in India Pacific”, held on 18 April 2018 at MCCI. and Mr. Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help 19.04.2018 Group & Self Employment, Government A Press Communiqué was issued on an of West Bengal on ’Bilateral Trade Interactive Session with H.E. Mr. Between India and Vietnam: Prospects Fleming Duarte, Ambassador of & Way Ahead’, held on 4 April, 2018 at Paraguay in India on “Doing Business MCCI. with Paraguay”, held on 19 April 2019 at MCCI. 06.04.2018 A Press Communique’ was issued on an 19.04.2018 Interactive Session with H E Mr. Riho A Press Communiqué was issued on a Kruuv, Ambassador of the Republic of Discussion on ‘New Provisions under Estonia in India on “Doing Business the Income Tax Act 1961 to be with Estonia” held on 6 April 2018 at effective from Assessment Year 2018- MCCI. 19 & 2019-20’, Smt. Seema Khorana Patra, IRS, Principal Chief 09.04.2018 Commissioner of Income Tax, West A Press Communique’ was issued on an Bengal & Sikkim, Govt. of India, held Interactive Session with H.E. Mr. on 19 April 2018 at MCCI. Demetrios A. Theophylactou, High Commissioner of the Republic of Cyprus 20.04.2018 in India on “Doing Business with A Press Communiqué was issued on a Cyprus”, held on 9 April 2018 at MCCI. Seminar on “Cyber Security : Threats Towards Corporates” with Shri Santanu 17.04.2018 Chattopadhyay, Officer–in–Charge, A Press Communique’ was issued on Cyber Police Station, Kolkata Police, the Launching of MCCI MSME Help by Lalbazar; Shri Sandeep Sengupta, Shri Rajiva Sinha, IAS, Additional Chief Cyber Audit Expert & CEO, Indian Secretary, Department of MSME & School of Anti Hacking (ISOAH) Data Textiles, Government of West Bengal, Securities Pvt. Ltd. & Smt. Sanghita held on 17 April 2018 at MCCI. Col. Mukherjee, Lawyer, Cyber Crime, held Sabyasachi Bagchi, Chairman, The on 20 April 2018 at MCCI. West Bengal Small Industries Development Corporation Ltd. was also 23.04.2018 present on the occasion. A Press Communiqué was issued on an Interactive Session with H.E. Mr. Adam
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85 Burkowski, Ambassador of Poland in Commissioner of Ghana in India on India on ’Doing Business with Poland’, “Doing Business with Ghana”, held on held on 23 April 2019 at MCCI. 14 May 2018 at MCCI.
25.04.2018 15.05.2018 A Press Communiqué was issued on an A Press Communiqué was issued on an Interactive Session with Mr. Ma Interactive Session on ‘Relevance of Zhanwu, Consul General of People’s Income Tax Settlement Commission in Republic of China in Kolkata on “Doing Current Scenario’ with Mr. Dinesh Business with China”, held on 25 April Kumar Gupta, Vice Chairman, 2019 at MCCI. Additional Bench, Kolkata, Income Tax Settlement Commission (IT & WT), 02.05.2018 Dept. of Revenue, Ministry of Finance, A Press Communiqué was issued on an Govt. of India and Mr. Syed Md. Ashraf, Interactive Session on ‘U.S.-India Trade Member, Additional Bench, Kolkata, and Investment’ with Chief Guest, Dr. Income Tax Settlement Commission (IT Craig Hall, Consul General, Consulate & WT), Dept. of Revenue, Ministry of General of the United States of America Finance, Govt. of India, held on 15 May in Kolkata and Mr. Jonathan Ward, 2018 at MCCI. Principal Commercial Officer, Consulate General of the United States of America 17.05.2018 in Kolkata, held on 2 May 2018 at A Press Communiqué was issued on an MCCI. Interactive Session on “Bilateral Trade between India & Bulgaria” with H.E. 12.05.2018 Mr. Petko Doykov, Ambassador, A Press Communiqué was issued on Bulgaria, held on 17 May 2018 at MCCI. MCCI FinTech Forum 2018 Shri Debashis Sen, IAS, Additional Chief 18.05.2018 Secretary, Department of Information A Press Communiqué was issued on an Technology & Electronics, GoWB and Interactive Session on ‘Eastern Chairman & Managing Director, Railway – The Way Forward’ with Housing Infrastructure Development Shri Harindra Rao, General Manager, Corporation Ltd., Shri Ashish Kumar Eastern Railway, held on 18 May 2018 Chauhan, MD & CEO, BSE Limited, Shri at MCCI. Pawan Kumar Bajaj, MD & CEO, United Bank of India and other distinguished 24.05.2018 experts, held on 12 May 2018 at The A pre–event Press release was issued Park Hotel. on MCCI Destination Haldia Forum 2018, the 2nd reach–out programme in 14.05.2018 Haldia, to be held on 25th May at A Press Communiqué was issued on an Haldia with Shri Suvendu Adhikari, Interactive Session with H.E. Mr. Hon’ble Minister for Transport, Govt. of Michael A. N. N. Oquaye Jnr., High West Bengal & Chairman, Haldia
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86 Development Authority as the Chief Guest. 02.06.2018 A Press Communiqué was issued on an 25.05.2018 Interactive Session on ‘Electoral A Press Communiqué was issued on Integrity and Role of Money in MCCI Destination Haldia Forum 2018 Elections’ with Shri Om Prakash Rawat, titled “Spearheading Sustainable & Hon’ble Chief Election Commissioner, Inclusive Growth” with Shri Suvendu Election Commission of India, held on 2 Adhikari, Hon’ble Minister for June 2018 at MCCI. Transport, Govt. of West Bengal & Chairman, Haldia Development 04.06.2018 Authority as the Chief Guest, held on A Press Communiqué was issued on an 25 May 2018 at Satish Samanta Trade Interactive Session on ‘Creating a Centre Auditorium, Haldia. This Forum robust, just, reliable and student was a part of the Outreach friendly public examination system in programmes of the Chamber, with a India’ with Shri Anil Swarup, IAS, mission to reach out to Tier II & Tier Secretary, Department of School III towns in the districts of the state. Education & Literacy, Ministry of Human Resource Development, 28.05.2018 Government of India as Chief Guest, A Press Communiqué was issued on a held on 4 June 2018 at MCCI. Seminar on ‘GST -The Road Ahead : Challenges and opportunities’ 08.06.2018 with Shri Arun Goyal, IAS, Special A Press Communiqué was issued on Secretary, GST Council & Project MCCI East India Energy Forum 2018 Monitoring Group of PMO as the Chief titled “Eastern India Power Sector : Guest, Shri Bijoy Kumar Mallick, IRS, Creating a Vision for the Future” with Commissioner, CGST & CX, Haldia Shri Sobhandeb Chattopadhyay, Commissionerate, Shri Devendra V. Hon’ble Minister for Power & Non Nagvenkar, IRS, Commissioner, Kolkata Conventional of Energy Sources, North Commissionerate and Shri Adesh Government of West Bengal addressed Kumar, Additional Commissioner, the Forum as the Chief Guest, held on Directorate of Commercial Taxes, Govt. 8 June 2018 at Hotel Lalit Great of West Bengal, held on 28 May 2018 Eastern, Kolkata. at MCCI. 31.05.2018 09.06.2018 A Press Communiqué was issued on a A Press Communiqué was issued on a Special Session with Smt. Smriti Irani, Special Session with Shri Ashwini Hon’ble Minister for Textiles, Kumar Choubey, Hon'ble Minister of Government of India on ‘Recent State for Health & Family Welfare, Developments in the Textile Industry & Government of India on “Health & The Road Ahead’, held on 31 May 2018 Family Welfare : Recent Trends & Road at Hotel Oberoi Grand, Kolkata. Ahead”, held on 9 June 2018 at MCCI.
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87 13.06.2018 A Press Communiqué was issued on an A Press Communiqué was issued on an Interactive Session with Shri Subrata Interactive Session with Shri S. Ravi, Mukherjee, Hon'ble Minister for Water Chairman, BSE Ltd. on “A Robust Stock Resources Investigation & Development Market and Financial Services Projects (WRID) and Panchayat & Rural Economic Power”, held on 13 June Development (PRD), Govt. of West 2018 at MCCI. Bengal on “Assuring Irrigation to Small & Marginal Farmers of West Bengal”, 26.06.2018 held on 19 July 2018 at MCCI. A Press Communiqué was issued on an Interactive Session with H.E. Mr. Jan Luykx, Ambassador, Embassy of the 23.07.2018 Kingdom of Belgium in India on ‘Doing A Press Communiqué was issued on a Business with Belgium’, held on 26 Seminar on "Bangladesh's Graduation June 2018 at MCCI. from LDC Prospects of Bangladesh – India Economic Engagement” with Shri 06.07.2018 Sadhan Pande, Hon’ble Minister of A Press Communiqué was issued on a Consumer Affairs, Self Help Group & Session with H.E. Ms. Maria Teresita C. Self Employment Government of West Daza, Ambassador, Embassy of the Bengal; H.E. Mr. Syed Muazzem Ali, Philippines in India on 'Doing Business High Commissioner for the People’s with Philippines', held on 6 July 2018 at Republic of Bangladesh, New Delhi, MCCI. India; Mr. Toufique Hasan, Deputy High Commissioner for the People's 10.07.2018 Republic of Bangladesh in Kolkata and A Press Communiqué was issued on a other distinguished Speakers, held on Session with Mr. Vinaya Varma, MD & 23 July 2018 at Park Hotel, Kolkata. CEO, Mjunction Services Ltd. on 'e- Commerce in Steel-Journey So Far & Way Ahead', held on 10 July 2018 at 31.07.2018 MCCI. A Press Communiqué was issued on a Meeting with Mr. Kumar De Silva, 11.07.2018 Chairman, Sri Lanka Convention A Press Communiqué was issued on a Bureau, under Ministry of Tourism, Seminar on 'Business Growth Through Government of Sri Lanka and Mr. Lalit Digital Media' with Shri Arun Agrawal, Peiris, Country Manager, Sri Lankan Director, Ebizindia Consulting Pvt. Ltd. Airlines on ’Showcase & Promote Sri and Shri Abhishek Rungta, Founder & Lanka as a Destination for Meeting, CEO, Indus Net Technologies, held on Incentive, Conference & Exhibition 11 July 2018 at MCCI. (MICE)’, held on 31 July 2018 at MCCI.
19.07.2018 03.08.2018 A Press Communiqué was issued on an
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88 Interactive Session with Shri Anand P. 11.09.2018 Srivastava, Regional Head, Small In a statement issued to the Press, Shri Industries Development Bank of India Ramesh Agarwal, President, Merchants’ (SIDBI) and Smt. R. Prabhavathi, Chamber of Commerce & Industry Deputy General Manager, SIDBI welcomed the move of the Government on ’SIDBI’s Schemes for MSMEs’, held of West Bengal to reduce prices of on 3 August 2018 at MCCI. petrol and diesel by Re 1 per litre.
13.08.2018 15.09.2018 A Press communiqué was issued by A Press Communiqué was issued on the Shri Ramesh Agarwal, President, MCCI 2nd Edition of “MCCI India Economic on the passing away of 10-time Lok Forum 2018”, with the Theme – Sabha MP and the Former Lok Sabha “Taking the Big Leap Forward” with Speaker, Somnath Chatterjee. Chief Guest, Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, 17.08.2018 Self Help Group & Self Employment A Press communiqué was issued by Government of West Bengal; Mr. Shri Ramesh Agarwal, President, MCCI Andreas W. Bauer, Senior Resident on the demise of Bharat Ratna, Atal Representative for India, International Bihari Vajpayeeji, former Prime Minister Monetary Fund (IMF); Dr. Shubhada of India on 16 August 2018. Rao, Group President & Chief Economist, YES BANK; Mr. Shihab Ansari Azhar, Senior Private Sector 18.08.2018 Specialist - Macroeconomics, Trade & A Press Communiqué was issued on an Investment, World Bank Group and Interactive Session with Shri Subhash other distinguished speakers, held on Chandra Garg, IAS, Secretary, Dept. of 15 September 2018 at Taj Bengal, Economic Affairs, Ministry of Finance, Kolkata. Govt. of India on 'Indian Economy: Current Trends & Future Outlook', held 22.09.2018 on 18 August 2018 at MCCI. A Press Communiqué was issued on a Seminar on “Sustainable Initiatives in 24.08.2018 Power : Creating Values for Future”, A Press Communiqué was issued on organized by MCCI in association with “MCCI Mutual Fund Forum 2018” titled West Bengal State Electricity Board “Mutual Funds: Securing India’s Officers’ Association with Chief Financial Future” with Shri N S Guest, Shri Sobhandeb Chattopadhyay, Venkatesh, CEO, Association of Mutual Hon’ble Minister for Power & Non Funds in India (AMFI) as the Guest of Conventional Energy Sources, Honour and other distinguished Government of West Bengal and Guest speakers, held on 24 August 2018 at of Honour, Dr. A N Biswas, IAS, Hotel Lalit Great Eastern, Kolkata. Commissioner, Department of Power &
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89 NES, Govt. of West Bengal, held on 22 K. Bett, High Commissioner of the September 2018 at MCCI. Republic of Kenya in India on ’Doing Business with Kenya’, held on 15 24.09.2018 November 2018 at MCCI. A Press Communiqué was issued on a multi-sectoral Business Delegation to 01.12.2018 Sri Lanka between 19th to 23rd of A Press Communiqué was issued on September 2018 in association with the “MCCI Logistics Forum 2018” – titled High Commission of India and The “Regional Integration through Ceylon Chamber of Commerce (CCC) Transport & Trade” with Mr. N. S. and Asst. High Commission of India, Nigam, IAS, Secretary, Department of Kandy. The 16 member delegation was Transport, Govt. of West Bengal and led by Shri Ramesh Agarwal, President, MD, WBTC and Mr. Vinit Kumar, MCCI and included Office Bearers : Shri I.R.S.E.E, Chairman, Kolkata Port Trust Vishal Jhajharia, Senior Vice President, as Guests of Honour and other Shri Vivek Gupta, Vice President of the distinguished speakers like Mr. Abdul Chamber. Matlub Ahmad, President, India– Bangladesh Chamber of Commerce & 29.09.2018 Industry, Mr. Toufique Hasan, Deputy A Press Communiqué was issued on the High Commissioner, People’s Republic 117th Annual Session of the Chamber of Bangladesh in Kolkata, Mr. with Smt. Smriti Irani, Hon’ble Minister Sabyasachi Mitra, Deputy Country for Textiles, Government of India, held Director, Asian Development Bank, on 29 September 2018 at Hotel Oberoi India Resident Mission, Mr. Rameshwor Grand, Kolkata. Pokharel, Deputy Consul General, Consulate of Federal Democratic 01.10.2018 Republic of Nepal in Kolkata, Col. A Press Statement was issued regarding Prashant Kumar Mishra, Director the new Office Bearers of the Chamber (Operations), Land Ports Authority of for the year 2018-19. India, Ministry of Home Affairs, Govt. of India, held on 1 December 2018 at 10.10.2018 Park Hotel, Kolkata. A Statement was issued to the Press regarding the First Press Meet of Shri 06.12.2018 Vishal Jhajharia, the new President for A Press Communiqué was issued on a the year 2018–19, giving a brief outline Special Session with Dr. Satya Pal of the forthcoming initiatives of the Singh, Hon’ble Minister of State for Chamber, which was held on 10 Human Resource Development (Higher October 2018 at MCCI. Education) and Water Resources, River Development & Ganga Rejuvenation, 15.11.2018 Government of India on ’Higher A Press Communiqué was issued on an Education Scenario in India’, held on 6 Interactive Session with H. E. Mr. Willy
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90 December 2018 at Hotel Hindusthan 2019-20 with Shri N. K. Poddar, FCA, International, Kolkata. Senior Advocate, Supreme Court of India, Dr. Saikat Sinha Roy, Professor, 13.12.2018 Department of Economics, Jadavpur A Press Communiqué was issued on University, Shri Amitav Kothari, FCA, ‘MCCI Insurance Forum 2018’ titled Former President of MCCI & Managing “Indian Insurance Industry: the next Partner, Kothari & Co. and CA Arun Wave of Growth” with Chief Guest: Shri Kumar Agarwal, Chairman, Standing Nilesh Sathe, Member-Life, Insurance Committee on GST & Indirect Taxes, Regulatory and Development Authority held on 2 February 2019 at MCCI. of India (IRDAI), held on 13 December 2018 at The Lalit Great Eastern Hotel, 04.02.2019 Kolkata. In a statement issued to the Press on the West Bengal Budget for 2019–20, 29.01.2019 Shri Vishal Jhajharia, President, MCCI A Press Communiqué was issued on a hailed the budget. He said that the full Special Interactive Session with Smt. exemption on Education Cess and Rural Tajinder Mukherjee, Chairman-cum- employment Cess for Tea gardens has Managing Director, National Insurance been extended for two more years Co. Ltd. on “Way Forward for which would help the Tea industry. Insurance Industry in India”, held on Government has given more emphasis 29 January 2019 at MCCI. to develop MSME sector and Credit flow to this sector achieved 13 p.c. growth to Rs.20,287 cr. during April to 01.02.2019 September 2018 which is noteworthy. In a statement issued to the Press, 95 new SSI clusters have been taken Shri Vishal Jhajharia, President of the up taking the total to 520 from 425. He Chamber said that ‘The Union Interim appreciated the prudent fiscal Budget 2019-20’ provided a bif relief to management of the state by which the agro economy and the middle Revenue deficit of the State has come class, aimed at an inclusive and self – down to 0.96 p.c. in 2017-18 from 3.75 sustained India by the year 2030. The p.c. in 2011-11 which is significant. new scheme “Pradhan Mantri Kissan Fiscal deficit as a percentage of GSDP Samman Nidhi to extend direct income has also gone down to 2.83 p.c. in support effective from 1st December 2017-18 due to prudent fiscal 2018 at the rate of Rs. 6,000 per year management. Industrial growth in the in 3 equal instalments to farmer State is as high as 16.29 p.c. in 2017- families having cultivable land upto 2 18 compared to 5.54 p.c. at national hectares, provides great relief. level which is excellent. He mentioned that Flipcart is going to develop a 02.02.2019 Flipcart Hub in Haringhata at a cost of A Press Communiqué was issued on a Rs.1,000 crores. The Krishak Bandhu Symposium on Union Interim Budget Scheme announced earlier is going to
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91 help 72 lakh farmers who will be given of Technical Education, Training & Skill Rs.5000/- upto I acre of land holding, Development, Government of West to be paid in two installments. Bengal, held on 19 February 2019 at MCCI. 12.02.2019 A Press Communiqué was issued on a 23.02.2019 Seminar on ‘Development of Food A Press Communiqué was issued on an Processing Industries & Horticulture in Interactive Session on ‘Indian Mutual West Bengal – The Road Ahead’ with Fund Industry: The Next Phase of Chief Guest: Janab Abdur Razzak Growth’ with Shri S. V. Murlidhar Rao, Molla, Hon’ble Minister for Food Executive Director, Securities and Processing Industries & Horticulture, Exchange Board of India (SEBI), held Government of West Bengal Smt. on 23 February 2019 at MCCI. Nandini Chakravorty, IAS, Principal Secretary, Food processing Industries & Horticulture Ministry, Government of 02.03.2019 West Bengal, held on 12 February 2019 A Press Communiqué was issued on an at Lalit Great Eastern Hotel. Interactive Session on 'The Biggest Economic Reform - The Insolvency & 18.02.2019 Bankruptcy Code' with Shri S. M. A Press Communiqué was issued on Gupta, NCLT Kolkata Bar Association – ‘MCCI Bengal Agri-siness Forum’ titled President, and Shri S. P. Chatterjee, Driving Agri-Business through Registrar, NCLT, Kolkata, organized by electronic National Agriculture Market MCCI in association with NCLT Kolkata (eNAM) Platform & Farmer Producer Bar Association and International Organisations (FPOs)’, with Mr. P. K. Women’s Insolvency & Restructuring Mazumdar, Adviser to the Hon’ble Chief Confederation (IWIRC) on 2 March Minister of West Bengal on Agri & Allied 2019 at MCCI. Department, Mr. Naveen Prakash, IAS, ACS, Department of Agriculture, 09.03.2019 Irrigation & Waterways, Govt. of West A Press Communiqué was issued on Bengal, Mr. Rajesh Kumar Sinha, IAS, MCCI Durgapur – Asansol –Raniganj Secretary, Department of Agricultural Forum 2019 titled “Facilitating Marketing, Govt. of West Bengal, held Sustainable & Inclusive Growth”, the on 18 February 2019 at Hotel Oberoi first ever reach out programme in the Grand, Kolkata. industrial belt, with Shri Swapan Debnath, Hon’ble MoS for MSME & 19.02.2019 Textiles and Animal Resources A Press Communiqué was issued on a Development (Ind. Charge), Govt. of Seminar on ‘Way Forward to “Skill West Bengal as Chief Guest; Shri Tapas Bengal”: Reforms, Challenges and Banerjee, Hon’ble Member of West Imperatives’ with Shri Purnendu Basu, Bengal Legislative Assembly & Hon’ble Minister-in-Charge, Department Chairman, Asansol–Durgapur Develop-
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92 ment Authority as Guest of Honour and Vice President (Operations), Central other distinguished speakers, held on 9 Depository Services Ltd., held on 15 March 2019 at The Citi Residenci Hotel, March 2019 at MCCI. Durgapur. 20.03.2019 15.03.2019 A Press Communiqué was issued on an A Press Communiqué was issued on a MCCI Retail Forum 2019 titled “E-Retail Special Session with Shri B. N. Sharma, Vs Brick & Mortar Retail : Convergence IAS, Chairman, National Anti- for a Better Living” with Shri Sadhan Profiteering Authority (GST) on ‘Anti- Pande, Hon’ble Minister, Departments Profiteering in GST’, held on 15 March of Consumer Affairs and Self Help 2019 at MCCI. Group & Self Employment, Government of West Bengal as the Chief Guest and 15.03.2019 other distinguished speakers and A Press Communiqué was issued on a domain experts, held on 20 March 2019 Session on ‘Demat of Unlisted at Hotel Taj Bengal, Kolkata. Companies & its Shares & e-voting of Stakeholders’ with Shri Nitin Ambure, ***********
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93 REPRESENTATIONS / MEMORANDA
Sl. Date Representation/ Representation / No. Memorandum sent to Memorandum sent about
1. 02.04.2018 Shri Surajit Kar That a Loaded Lorry has falsely Purkayastha, IPS, Director claimed to have overturned and General & Inspector General requesting the Director General to of Police, West Bengal, West take proper action to recover Bengal Police Directorate palmolien oil.
2. 11.05.2018 Shri Piyush Goyal, Hon’ble Regarding Companies Minister of Company Affairs, (Amendment) Act, 2017 and the Ministry of Company Affairs, suggestions that might facilitate in Government of India rendering smooth implementation of the Amendment Act.
3. 31.05.2018 Smt. Smriti Irani, Hon’ble Requesting her for extending the Minister for Textiles, policy support for enhancing the Government of India competitiveness of textile sector.
4. 17.07.2018 Shri B. N. Dixit, Director, Regarding Legal Metrology Legal Metrology Division, Amendment in respect of font size Ministry of Consumer Affairs, of statutory declarations on label – Govt. of India Notification No.GSR 629 (E) dated: 23.06.2017.
5. 27.07.2018 Shri R. K. Singh, Hon’ble Regarding Outstanding Electricity Minister of State (I/C), charges pending to one of our Ministry of Power, Govt. of member AHW Steels Pvt. Ltd. India Shri Chandrashekhar K. Bawankule, Hon’ble Minister of Energy, Departments : Energy, New & Renewable Energy, State Excise, Govt. of Maharashtra
6. 28.07.2018 Smt. Smriti Irani, Hon’ble Requesting her to kindly consider Minister for Textiles, the pending TUFS Subsidy
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Government of India (MTUFS) of one of the esteemed members of the Chamber.
7. 02.08.2018 Shri Subrata Gupta, IAS, Regarding Permission for Principal Secretary, Urban Construction of 5-Star Hotel to one Development and Municipal of the members of the Chamber. Affairs Department, Govt. of West Bengal
8. 09.08.2018 Shri Chaudhary Birender Requesting him to revise the Singh, Hon’ble Minister of Impractical ratio of conversion Steel, Government of India. from iron to steel for considering for allocation of the Rakes under Copies sent to : Priority ‘C’ by Indian Railway for Dr. Aruna Sharma, movement of Iron ore by Steel Secretary, Ministry of Steel, Producing Companies Government of India,
Shri Girish Pillai, Member, Traffic, Railway Board
Shri Ratnasanu Das, Executive Secretary, Joint Plant Committee.
9. 01.10.2018 Smt. Smriti Z. Irani, Requesting for policy support for Hon'ble Minister of Textiles, enhancing the competitiveness of Govt. of India textile sector.
10. 04.10.2018 Smt. Smriti Z. Irani, Regarding the Non-disbursal of Hon'ble Minister of subsidy under TUF Schemes. Textiles, Govt. of India
11. 10.10.2018 Shri Ajoy Sanyamath, Regarding refusal to accept land IAS, Commissioner & Addl. revenue from one of our esteemed Director, Land Revenue, member, The Phosphate Company Director of Land Records Limited located at Rishra under and Service, Govt.of West Hooghly district. Bengal
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12. 27.10.2018 Shri Chaudhary Birender Regarding ‘The recent newspaper Singh, Hon’ble Minister of reports on the quality of TMT Bars Steel, Government of India – Request thereof’.
13. 27.10.2018 Shri Arun Jaitley, Hon’ble Regarding ‘Dual control of Minister of Finance, enforcement on GST Assesses’ Government of India
14. 31.10.2018 Dr. Amit Mitra, Hon’ble Regarding ‘Fulfilling commitments Minister of Finance, Excise, of Industrial Promotion Schemes Commerce & Industries, PE under the GST regime’. & IR, Government of West Bengal
15. 03.11.2018 Shri Chaudhary Birender Request for taking stringent action Singh, Hon’ble Minister of against First Construction Council Steel, Government of India and debar its activities in larger public interest.
16. 07.11.2018 Shri Chandrashekhar K. A representation was made earlier Bawankule, Hon’ble to on 27 July 2018 regarding Minister of Energy, Outstanding Electricity charges Departments: Energy, New pending to AHW Steels Pvt. Ltd., & Renewable Energy, State one of our esteemed member. The Excise, Govt. of Maharashtra Chamber once again sent a and representation regarding the same as huge amount of electricity bills Shri R. K. Singh, Hon’ble submitted by our member and Minister of State (I/C), pending for payment for last 20 Ministry of Power, Govt. of months by Maharashtra State India Electricity Distribution Company Ltd. (MSEDCL).
17. 12.11.2018 Shri Jag Mohan, IPS, Regarding the Issuance of NOC Director General and Renewal of Fire Licence for (Headquarters), West the year 2018 for one of our Bengal Fire & Emergency esteemed member of the Chamber Services which is long pending and rejected by the department on flimsy ground.
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18. 14.12.2018 Shri Suvendu Adhikari, Regarding the Transporters strike Hon'ble Minister of at Haldia Port and resultant Transport, Govt. of West dislocation of evacuation of goods Bengal & Chairman, Haldia from the Port. Development Authority
Copy to : Shri Vinit Kumar, l.R.S.E.'E, Chairman, Kolkata Port Trust,
19. 02.01.2019 Shri Suvendu Adhikari, Regarding the ‘Massive congestion Hon'ble Minister of on the route to Siliguri & North Transport, Govt. of West East due to repair work of Farakka Bengal & Chairman, Haldia Bridge’. Development Authority.
Copies to : Shri Santosh Kumar Nirala, Hon'ble Minister of Transport, Govt. of Bihar
Shri Chandra Mohan Patowary, Hon’ble Minister of Transport, Govt. of Assam,
Shri Yudhvir Singh Malik, IAS, Secretary (RT&H), Ministry of Road Transport & Highways, Govt. of India
Secretary, Dept. of Transport, Govt. of Bihar
Secretary, Department of Transport, Govt. of West Bengal & MD, WBTC & Chief Nodal Officer (Project)
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Principal Secretary, Dept. of Transport, Govt. of West Bengal
Chairperson, Assam State Transport Corporation
20. 15.01.2019 Shri Arun Jaitley, Hon’ble Regarding the Problems faced by Minister of Finance, Ministry Exporters from Department of of Finance, Government of Revenue intelligence regarding India interpretation of Pre-import condition against exports. Copy to : Shri Ajay Bhushan Pandey, IAS, Revenue Secretary & Ex-Officio Secretary, GST Council
21. 18.01.2019 Shri Sumanta Chaudhuri, Regarding Tranche 6 and Tranche IAS, Secretary, Ministry of 7 Auction of Coal Blocks under the Coal, Govt. of India Coal Mines (Special Provisions) Act 2015 along with the following requests: a) Request for extension of the last date of registration of Bidder at the Website of MSTC and b) Request for review of the provision relating to the Number of minimum Technically Qualified Bidders.
22. 21.01.2019 Shri Suresh Prabhakar Regarding Amendment to Prabhu, Hon’ble Minister of Notification No. 53/2015-20 dated Commerce & Industry, 10.01.2019 (amending Notification Government of India. No. 79/2017).
Copy to : Shri Ajay Bhushan Pandey, IAS, Revenue
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Secretary & Ex-Officio Secretary, GST Council.
23. 30.01.2019 Shri Hardeep Singh Puri, Requesting him for rescinding and Minister of State withdrawal of Office Memorandum (Independent Charge), on the proposed criteria for Ministry of Housing & Urban approval of Manufacturers of Steel Affairs, Government of TMT Bars as circulated vide Office India. Memorandum bearing F. No. CSQ /SE (TAS) /EE (TAD) /Steel/2018- Copy to : 19/02-E dated 24/01/2019 by the Shri Durga Shanker Superintending Engineer (TAS), Mishra, IAS, Secretary, CSQ, CPWD, Nirman Bhawan, New Ministry of Housing & Urban Delhi. Affairs, Government of India
Shri Prabhakar Singh, Director General, Directorate General, Central Public Works Department, Ministry of Housing & Urban Affairs
24. 04.02.2019 Shri Chaudhary Birender Requesting him for rescinding and Singh, Hon’ble Minister of withdrawal of Office Memorandum Steel, Government of India on the proposed criteria for approval of Manufacturers of Steel TMT Bars as circulated vide Office Memorandum bearing F.No. CSQ/SE(TAS)/EE(TAD)/Steel/2018- 19/02-E dated 24/01/2019 by the Superintending Engineer (TAS), CSQ, CPWD, Nirman Bhawan, New Delhi.
25. 04.03.2019 Shri Narendra Modi, Requesting for kind intervention Hon’ble Prime Minister of for withdrawal of the quantity/ India capacity restrictive clause sought Copy to : to be introduced by the CPWD, Shri Nripendra Mishra, Ministry of Housing & Urban IAS, Principal Secretary to Affairs for approval of the
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Hon’ble Prime Minister of Manufacturers of Steel TMT Bars. India.
26. 05.03.2019 Shri R. K. Singh, Hon’ble Regarding the Outstanding Minister of State (I/C), Electricity charges pending for Ministry of Power, Govt. of AHW Steels Pvt. Ltd. India
Copy to : Shri Chandrashekhar K. Bawankule, Hon’ble Minister of Energy, Departments : Energy, New & Renewable Energy, State Excise, Government of Maharashtra.
27. 21.03.2019 Shri Manoj Pant, IAS, Requesting him for a ‘Reduction in Principal Secretary, Land high Regularisation cum post facto and Land Reforms & Conversion fee of land’. Refugee Relief and Rehabilitation, Govt. of West Bengal
28. 28.03.2019 Dr. Amit Mitra, Hon’ble Requesting him for an ‘Extension Minister of Finance & Excise, of Date for SOD Scheme on Commerce & Industries, disputed VAT, CST and Entry Tax’ Government of West Bengal upto 30.06.2019.
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WORKING OF THE STANDING COMMITTEES
Corporate Law & Governance
A meeting of the Standing Committee on Corporate Law & Governance was held on 3 April 2018 at the Chamber premises, to formulate the activities of the Standing Committee. Smt. Mamta Binani, Chairperson, Standing Committee on Corporate Law & Governance presided over the meeting.
Banking, finance & Insurance
A meeting of the Standing Committee on Banking, finance & Insurance was held on 5 April 2018 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was chaired by Shri Smarajit Mitra, Chairman, Standing Committee on Banking, Finance & Insurance, MCCI.
Steel A meeting of the Standing Committee on Steel was held on 6 April 2018 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was chaired by Shri Ravi Agarwal, Chairman, Standing Committee on Steel, MCCI. The meeting was also addressed by Shri Sushim Banerjee, Director General, Institute for Steel Development & Growth (INSDAG), Ministry of Steel on ‘Current issues with the Steel Industry’.
Foreign Trade
A meeting of the Standing Committee on Foreign Trade was held on 10 April 2018 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was chaired by Shri Mahesh Keyal, Chairman Standing Committee on Foreign Trade, MCCI,
IT & Communication
A meeting of the Standing Committee on IT & Communication was held on 20 April 2018 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was chaired by Shri Vishnu Kumar Bhandari, Chairman Standing Committee on IT & Communication, MCCI.
GST & Indirect Taxes A meeting of the Standing Committee on GST & Indirect Taxes was held on 13 July 2018 at the Chamber premises, to finalise comments of the Chamber on the Proposed
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Amendments in GST Laws. Shri Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes chaired the meeting.
GST & Indirect Taxes
A meeting of the Standing Committee on GST & Indirect Taxes was held on 16 November 2018 at the Chamber premises, to discuss and finalise the issues in the areas of GST, other State Taxes, Duties & Cess, Industrial Promotion Schemes etc. for the Pre-Budget Memorandum of the Chamber for the year 2019-20 on GST, other State Taxes, Duties and Cess etc. Shri Arun Kumar Agarwal, Chairman, Standing Committee on GST & Indirect Taxes chaired the meeting.
Meetings with Chairmen & Co-Chairmen of all Standing Committees
Joint Meetings with Chairmen & Co-Chairmen of different Standing Committees were held on 27, 28 and 29 November 2018 at the Chamber, to discuss and formulate activities of each Standing Committee. The Meetings were chaired by Shri Vishal Jhajharia, President of the Chamber.
Retail Trade
A meeting of the Standing Committee on Retail Trade was held on 21 December 2018 at the Chamber premises, to to formulate the activities of the Standing Committee and also to discuss about MCCI Retail Forum 2019, planned for March 2019. The meeting was presided over by Shri Namit Bajoria, Chairman, Retail Trade, MCCI.
Capital Market and Insurance A meeting of the Standing Committee on Capital Market and Insurance was held on 28 December 2018 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was presided over by Shri Subodh Kumar Agrawal, Chairman, Capital Market and Insurance, MCCI.
Agriculture & Food Processing A meeting of the Standing Committee on Agriculture & Food Processing was held on 3 January 2019 at the Chamber premises, to formulate the activities of the Standing Committee. The meeting was presided over by Shri Santosh K. Roongtaa, Chairman, Agriculture & Food Processing, MCCI.
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Retail Trade
The 2nd meeting of the Standing Committee on Retail Trade was held on 15 January 2019 at the Chamber premises, to discuss about MCCI Retail Forum 2019, to be held on 20 March 2019 at Hotel Taj Bengal.
The 3rd meeting of the Standing Committee on Retail Trade was held on 5 February 2019 at the Chamber premises, to discuss about MCCI Retail Forum 2019, to be held on 20 March 2019 at Hotel Taj Bengal.
The 4th meeting of the Standing Committee on Retail Trade was held on 11 March 2019 at the Chamber premises, to discuss about the last minute logistics for MCCI Retail Forum 2019, to be held on 20 March 2019 at Hotel Taj Bengal.
All the 3 meetings were presided over by Shri Namit Bajoria, Chairman, Retail Trade, MCCI.
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OTHER ACTIVITIES OF THE CHAMBER
Participation in ASSOCHAM Managing Committee: Shri Sanjay Agarwal, Past President, MCCI and Managing Director, Century Plyboards (I) Ltd. represented the Chamber on the ASSOCHAM Managing Committee.
Certificate of Origin: The Chamber issued 7100 Certificates of Origin, 1085 Invoices, 559 Shipping Documents and Agency Agreements during the period. In addition, recommendations for 141 Visa/ Passports were also issued.
New Membership: The total number of members as on 31st March 2018 was 738, 37 new members enrolled while 88 members resigned during the financial year under review.
Circulars and Trade Enquiries: The Chamber issued 170 circulars covering various subjects and also a number of Trade Enquiries, which were received through various sources from within the country as well as from abroad. Inter-linkages with various trade and promotional bodies, professional organisations including Non-Governmental Organisations (NGOs) were strengthened to develop information base at the Chamber in order to cater to the requirements of the members of the Chamber. It may also be mentioned that the various foreign diplomatic missions based in India had regular support in providing information resulting in meaningful business alliances.
Acknowledgments: The Committee would like to take this opportunity to offer sincere appreciation for the cooperation received from various Departments of the Ministries of the Union and State Governments, Foreign Diplomatic Missions, International Organisations, Trade Bodies and Associations. The Committee is grateful to the Press who have always lent their support and focused the activities of the Chamber in a big way.
The Committee would also like to put on records its high appreciation of the competent services rendered by the officers and staff of the Chamber. ************
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PAST TRUSTEES/ ADVISORY COUNCIL / MCC FOUNDATION / STANDING COMMITTEES
Past Trustees
* Shri Bhagwati Prasad Agarwala 1986 to 2007–2008 * Shri Bijay Singh Kothari 1986 to 2008–2009 * Shri Hira Lall Somany 1986 to 2016–2017 * Since deceased Advisory Council
Chairman Co-Chairman Shri R.S. Agarwal Shri B.K. Jhajharia Members Shri A.R. Sonthalia Shri Santosh Kumar Saraf Shri Deepak Jalan Shri Sanjay Agarwal Shri Arun Kumar Saraf Shri Hemant Bangur Shri Ramesh Agarwal Shri R.S. Goenka Shri Vishal Jhajharia Shri Vivek Gupta Shri Devesh Bansal Merchants’ Chamber of Commerce Foundation
Chairman Shri Vishal Jhajharia Members Shri Ramesh Agarwal Shri Vivek Gupta Shri Devesh Bansal Shri Bharat Agarwal Shri A.R. Sonthalia Shri B.K. Jhajharia Shri Arun Kumar Churiwal Shri Santosh Kumar Saraf Shri Arun Kumar Saraf Shri Pawan Tibrewalla
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STANDING COMMITTEES
Agriculture & Food Processing
Chairman Co-Chairmen Shri Santosh K. Roongtaa Shri Suresh Agarwal Shri Aakash Shah Members Shri Bharat Agarwal Shri Manish Agarwal Shri Sanjeev Agarwal Shri A.K. Ajitsaria Shri Ajay Bangur Shri Somdev Banerjee Shri Sanjeev Baid Shri Bimal Kumar Choudhary Shri Atul Churiwal Shri Narain Prasad Dalmia Shri Parag Vishnu Gadre Shri Rohitashwa Jalan
Shri Ashish Jhunjhunwala Shri Rishabh Kothari Shri Aditya Kumar Poddar Shri Sanjay Rasiwasia Shri Sudhir Satnaliwala Shri Chandan Sahani Shri Amit Kumar Saraogi Shri Siddhartha Tantia Shri Pawan Tibrewalla Special Invitees Prof. S. Dattagupta Prof. Ashok Mishra Mr. Taj Mohammad
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Banking & Finance
Chairman Co-Chairman Shri Sanjay Rasiwasia Shri Smarajit Mitra Members Shri Arun Kumar Agarwal Shri Manoj Agarwal Shri Suresh Agarwal Shri Santajyoti Chakrabarti Shri Girdhari Lal Goenka Shri Mahesh Kumar Goenka Shri Kailash B. Goel Shri Sanjib Kumar Kothari Shri Mahesh Chandra Keyal Shri Bijay Murmuria Shri Vineet Nahata Shri Amitabh Saraogi Shri Devendra Vyas
Capital Market & Insurance
Chairman Co-Chairman Shri Subodh Kumar Agrawal Shri Ashok Pareek Members Shri Vasudeo Agarwal Shri Girdhari Lal Goenka Shri Kamal Nayan Jain Shri Bijay Murmuria Shri Santosh K. Roongtaa Shri Ravindra Sanghai Shri Vikash Somani Shri Pawan Tibrewalla Special Invitees Shri Nirmal Bazaz Shri Vijay Kumar Chandak Shri Dinesh Jain Shri Rajesh Kumar Lihala Shri Swatantra Rustogi Shri Manoj Kumar Saraf
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Corporate Law & Governance
Chairperson Co-Chairman Smt. Mamta Binani Shri Ashok Purohit Members Shri Manish Agarwal Shri Rakesh Agarwal Shri Vinay Agarwal Shri Swachchidanand Agarwal Shri R.S. Agarwala Adv. Debatrayee Banerjee Shri N.K. Dujari Shri A. K. Joshi Shri Sundeep Jhunjhunwala Shri Ashok Pareek Shri Santosh K. Roongtaa Shri Ramanand Rustagi Shri Subhash Saraf Shri Narendra Kumar Shah Shri Poonam Chandra Tibrewal Special Invitees Shri Joydeep Datta Gupta Shri Sandip Kejriwal Shri Arun Kumar Khandelia Shri S.M. Kothari Shri Rajesh Poddar Shri Joydev Sengupta Shri Rohit Nanda
CSR & Rural Development
Chairman Co-Chairman Shri Suresh Agarwal Shri Sanjay Rasiwasia Members Shri Arvind Agrawal Shri Hemant Bangur Smt. Mamta Binani Shri V. K. Bhandari Shri Lalit Beriwala Shri Vishal Bagaria Shri Sanjay Goenka Shri Devendra Goel
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Shri Sanjay Gupta Shri Alok Kumar Jalan Shri Kundan Jha Shri Pankaj Jha Shri Bhaven Kamdar Shri Manoj Keshan Shri Sushil Poddar Shri Atul Singh
Shri Rahul Verma
Direct Taxes
Chairman Co-Chairman Shri Arvind Agrawal Shri Sanjay Bhattacharya Members Shri Birendra Agarwal Shri Bharat Agarwal Shri D.N. Agarwal Shri Gaurav Agarwal Shri Manoharlal Agarwal Shri Naresh Kr. Agarwala Shri Manoj Agarwal Shri R.S. Agarwala Shri Rakesh Agarwal Shri Vishwanath Agarwal Shri Sanjay Bajoria Shri Manoj Beriwal Shri Paras Bohra Shri Indu Chatrath Shri Raja Ram Chowdhary Shri P. K. Dhelia Shri Shyamlal Dokania Shri Vinod Dubey Shri P. C. Gupta Shri S. S. Gupta Shri Jinesh Kumar Jain Shri Nirmal Kaushik Shri B. L. Kheria Shri Manaswy Kothari Shri Prithvi Raj Kothari Shri Mahesh Kr. Modi Shri Kishan K. Poddar Shri Ashutosh Poddar Shri P.K. Roychowdhury Shri Ramanand Rustagi Shri Sunil Surana Shri Vikash Surana Shri Miraj D. Shah Shri Pawan Tibrewalla
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Special Invitees Smt. Nilima Joshi Shri P.D. Rungta Shri Anand Tibrewal
Education & Skill Development
Chairman Co-Chairman Shri Samir Saraff Shri Taranjit Singh Members Shri Tushar Basu Shri Manoj Kumar Bothra Shri H.K. Chaudhary Shri Saurav Jalan Shri Kishan Kejriwal Shri Smarajit Mitra Shri Naveen Saraff Shri Anupam Shah Shri Miraj D. Shah Shri Dharmen Trivedi Special Invitees Rev. Abir Adhikari Rev. Peter Arockiam Rev. Fr. Dr. G. Paul Arockiam Dr. Parasar Bandyopadhyay Prof. Sonali Chakravarti Banerjee Shri Soumen Basu Dr. Suborno Bose Mr. M. S. Calvert Prof. Parthasarathi Chakrabarti Shri Pradip Chakraborty Prof. Basab Chaudhuri Prof. Ranjan Das Prof. Dr. Suranjan Das Rt. Revd. Dr. Probal Kanto Dutt Rev Fr. Mourlin Fernando Shri N. K. Gupta Shri Sanjay Kumar Gupta Shri Samar Jha Fr. Tomy Joseph, SDB Dr. Dipak Kumar Kar Prof. Anuradha Lohia Prof. Ashis Mitra Prof. Saikat Maitra Shri Chinmaya Mukherjee Fr. Jose Padimattam Mr. John F. Rafi
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Rev. Dr. J. Felix Raj Prof. Ajoy Kumar Ray Dr. Subhrangshu Sanyal Smt. Seema Sapru Mr. Ritesh Sarkar Rev. Dr. Xavier Savarimuthu, Rev. Fr. Dominic Savio Prof. Dilip Shah Swami Atmapriyananda Swami Shastrajnananda Swami Suvirananda ji Maharaj Swami Vedapurushananda Swami Vedatitananda Prof. V.K. Tewari Prof. Ashoke Ranjan Thakur
Foreign Trade
Chairman Co-Chairman Shri Mahesh Keyal Shri Sanjib Kumar Kothari Members Shri S. N. Agarwal Shri Shrawan Kumar Agarwal
Shri Suresh Agarwal (Rose Impex) Shri Suresh Agarwal (Satellite) Shri Vishal Agarwal Shri Pankaj Bajaj Smt. Rachna Bajaj Shri Manish Beriwala Shri Vishnu Kumar Bhandari Shri Arpit Dhandhania Shri Arun Kumar Garodia Shri Sumit Goyal Shri Ramesh C. Gupta Shri Srikant Jain
Shri Ashutosh Jaiswal Shri Rohit Deepak Jalan Shri Shasank Sekhar Jalan Shri Pervez S. Kaikobad Shri Srivatsa Kajaria Shri Bhaven Kamdar Shri Surendra Keyal Shri Rishabh Kothari Shri Anand Majaria Shri Vinay Maheswari
Shri Pankaj Kumar Palriwala Shri S. K. Patwari
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Shri Sanjay Rasiwasia Shri Rajat Sarawgi Shri Anil Saraogi Shri Aakash Shah Shri Chirag Sheth Shri Pradeep Kumar Singhania Shri Shyam Thard Special Invitees Shri S Balaji Arunkumar Shri Manish Chandra Shri Subhasis Dhal Shri Suman Kumar Mukhopadhyay Smt. Anima Pandey Smt. Anindita Sengupta Shri R. Veeramani
GST & Indirect Taxes
Chairman Co-Chairman Shri Arun Kumar Agarwal Shri Sushil Kr. Goyal Shri Sanjib Kumar Kothari Members Shri Birendra Agarwal Shri Mahendra K. Agarwal Shri Manoj Agarwal Shri Rajesh Agarwal Shri Sandeep Agarwal Shri Suresh Agarwal Shri Vishal Agarwal Shri Mani Almal Shri Vishal Bagaria Shri Santosh Bajaj Shri Narendra K. Chandak Shri Girija Choudhary Shri R.D. Daga Shri Narendra Dhanuka Shri Ramesh C. Gupta Shri Pankaj Jhawar Shri Sanjib Jhori Shri Suresh Jhunjhunwala Shri Prem Chand Kankaria Shri Mahesh Keyal Shri Surendra Keyal Shri Rishabh Kothari Shri Maruti Maheswari Shri Kishan Maskara
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Shri Prakash Chandra Pincha Shri Sanjay Rasiwasia Shri Ghanshyam Saraf Shri Santosh K. Saraf Shri Anil Saraogi Shri Amitabh Saraogi Shri Sukhbir Singh
Special Invitees Shri Ajay Agrawal Shri Harish Agarwal Shri Narayan Agarwal Shri Rajeev Kumar Agarwal Shri Sanjay Agarwal Shri Achintya Bhattacharjee Shri Pradip K. Das Shri Rajesh K. Dokania Shri Sanjay Gupta CA Tarun K. Gupta Smt. Punam Kanodia Shri Lalit K. Modi Shri Saibal Mukherjee Shri Atanu Pahan Shri Anand Prakash Shri Ravi K. Sharma
HRD
Chairman Co-Chairman Shri Tushar Basu Shri Abhishek Bagaria Members Shri Arun K. Agarwal Shri Subodh Kumar Agrawal Shri Arvind Agrawal Shri Shankhanil Banerjee Smt. Rituparna Banerjee Shri Gautam Basu Shri Nivedan Churiwal Smt. Sunayana Chattopadhyay Shri Saibal Chakraborty Shri Diptarup Choudhury Smt. Chaitali Das Smt. Alpa Dey Smt. Ajapa Ghosh Shri Gautam Ganguli Smt. Aparupa Ghosh Shri Raj Kumar Gupta
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Shri Basudev Hajra Shri Rajesh Kumar Jain Shri Asim Ranjan Manna Shri Smarajit Mitra Shri Bidyut Majumdar Shri Vijay Pandey
Shri Vikas Saraf Dr. J.S. Sareen Shri Himadri Sen Shri Indrapaul Singh Shri Sanjay Singh Special Invitees Shri Vivek Agarwal Shri Sabyasachi Bhattacharya Smt. Indrani Roy Chowdhury Smt. Smita Pandit Chakraborty Shri Subroto Basu Chaudhury Smt. Soma Das Shri Hirok Ghosh Shri Gautam Mukherjee Shri Abhaya Kumar Mahapatro Shri Sudip Majumder Shri Asish Kumar Neogi Shri Prakash Chandra Panda Mr. Kazi Samim Raza Smt. A. Ratna Sekhar Shri Manas Sengupta Shri Ujjal Sen Gupta Shri D Shome Smt. Shreyasi Shome
Shri Vishal Verma
Industry
Chairman Co-Chairman Shri Lalit Beriwala Shri Anirudh Jhunjhunwala Members Shri Bhagwandas Agarwal Shri Brij Bhushan Agarwal Shri Deepak Kumar Agarwal Shri Mahendra Kumar Agarwal Shri Mahesh Kr. Agarwal Shri Ravi Agarwal Shri Sandeep Agarwal Shri Sunil Bansal
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Shri Pankaj Bajaj Shri Namit Bajoria Shri Gyanesh Chaudhary Shri Devendra Goel Shri Amit Goenka Shri K.C. Goyal Shri Rajesh Mittal Shri Sanjib Kumar Patwari Shri Ashutosh Poddar Shri Arun Kumar Saraf Shri Sandeep Seksaria Shri Pradeep Kumar Singhania Shri Pradip Kumar Todi
Special Invitees Dr. Jayanta K. Saha
Infrastructure & Real Estate
Chairman Co-Chairman Shri Munish Jhajharia Shri Rohit Singhania Shri Siddhartha Tantia Members Shri Sandeep Agarwal Shri Rajeev Ginodia Shri Ajay Jalan Shri Kushal Rungta Shri Apurva Salarpuria Shri Amit Sharda Shri Vicky Raj Sikaria Special Invitees Shri Piyush Bhagat Shri Amit Kedia Shri Anand Neotia
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IT & Communication
Chairman Co-Chairman Shri Vishnu Kumar Bhandari Shri Sanjib Sanghi Members Shri Arif Ahmed Shri Arvind Agarwalla Shri Ashish Bagla Shri Alok Garodia Shri Ranjan Goenka Shri Jayojit Ghosh Shri Vineet Jindal Shri Puneet Keyal Mr. Asif Khan Shri Sumit Kothari Shri K.L. Lalani Shri Shiv Kr. Mohta Shri Tanmoy Mukherjee Shri Tapas Sengupta Special Invitees Shri Prakash Agrawal Shri Nirupam Chaudhuri Shri Amit Sharma
Logistics, Transport & Warehousing
Chairman Co-Chairman Shri Lavesh Poddar Shri Rajesh Agarwal
Members Shri Ashok K. Agarwal Shri Rajesh K. Agarwal Shri Sandeep Agarwal Shri Sanjay Bhandari Shri Amit Kajaria Shri Sushil Poddar Shri Nimish Saraf Shri Santosh Saraf Shri Naveen Somani
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Membership Development
Chairman Co-Chairman Shri Santosh Saraf Shri Arun Kumar Saraf Members Shri A.R. Sonthalia Shri B.K. Jhajharia Shri Atul Churiwal Shri Hemant Bangur Shri Santosh Bajaj Shri Bharat Agarwal Shri Pawan Tibrewalla MSME
Chairman Co-Chairman Shri Rishabh Kothari Shri Akhil Sonthalia Members Shri Manoj Agarwal Shri Suresh Agarwal Shri Mani Almal Shri Sunil Kumar Bhoruka Shri Sanjay Goenka Shri Anirudh Jhunjhunwala Shri Sanjib Kumar Kothari Shri Arkopaul Maiti Shri Smarajit Mitra Shri Sushant Gopal Sureka Special Invitees Shri Jitendra Agarwal Shri Ajoy Bandopadhyaya Shri Vijay Bharti Shri Biswanath Bhattacharya Shri Dipankar Chakraborty Smt. Sudipta Chatterjee Prof. Ranjan Das Shri Sudhanshu Gaur Shri S. K. Jain Shri D.K. Mitra Shri Udit Prasanna Mukherjee Shri Rakesh Chandra Narayan Sri Biplob Roy Chowdhury Smt. R. Prabhavati
Shri Subhrangshu Sanyal Shri Tarun Thakur
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Power & Renewable Energy
Chairman Co-Chairman Shri Sanjib Kumar Patwari Shri Devendra Goel Members Shri Manish Beriwala Shri B.L. Chandak Shri M. R. Ghosh Shri Ravindra Goyal Shri Bhaven Kamdar Shri Ivan Saha Shri Dhruv Sharma Shri Naveen Somani Shri Kapil Thapar Special Invitees Shri Durgadas Goswami Shri Brijesh Gupta Shri Raghav Kanoria Shri Arun Kedia Dr. Kanak Mukhopadhyay Shri Arjun Kumar Santhalia
Retail Trade
Chairman Co-Chairman Shri Namit Bajoria Shri Pulkit Baid Shri Manish Agarwal Members Shri Birendra Agarwal Shri Mayank Agarwal Shri Suresh Agarwal Shri Suresh Kumar Agarwal Shri Santosh Bajaj Shri Manish Gourisaria Shri Sanjay Goenka Shri Rohit Deepak Jalan Shri Saurav Jalan Shri Shasank Sekhar Jalan Shri Bhaven Kamdar Shri Navin Pareek Shri Aditya Kumar Poddar Shri Nitin Rungta
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Shri Sandeep Seksaria Shri Samir Saraff Shri Adarsh Tulshan Shri Pradeep Todi Special Invitees Shri Debaditya Chaudhury Shri Kalyaneswar Sarkar Shri Subhankar Sen Shri Siddhartha Sawansukha
Steel
Chairman Co-Chairman Shri Ravi Agarwal Shri Deepak K. Agarwal Members Shri Avinash Agarwalla Shri Brij Bhusan Agarwal Shri G.K. Agarwal Shri Jugal K. Agarwal Shri Kamal Kumar Agarwal Shri Rajiv Agarwal Shri Rakesh Agarwal Shri Shankar Lal Agarwal Shri Tulsiram Agarwal Shri Om Prakash Agarwala Shri Amit Agrawal Shri S.S. Bagaria Shri Santosh Bajaj Shri Manav Bansal Shri Ram Gopal Bansal Shri Ram Kishore Bansal Shri Sunil Bansal Shri Lalit Beriwala Shri Vijay Shankar Beriwal Shri Dinesh Kumar Bihani Shri Vinay Binani Shri Tapash Chatterjee Capt. Pradip Chakraborty Shri Prabir K. Chaki Shri Kumar Chand Chawla Shri Ashok Chowdhary Shri Dilip Kumar Didwania Shri Mukesh K. Dhandhania Shri Sanjay Goenka Shri Alok Goyal Shri Anand Gupta Shri Ankit Gupta Shri Avinash Ch. Gupta Shri Jag Mohan Gupta
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Shri Prem Gupta Shri Anil Jain Shri Bimal Kumar Jain Shri Aditya Jajodia Shri B. P. Jalan Shri P. K. Jalan Shri Punit Jatia Shri Aashish Jhunjhunwala Shri Nirmal Kanodia Shri Bimal Kr. Kejriwal Shri Jitendra Kejriwal Shri R. S. Kejriwal Shri Ankit Keyal Shri Mahesh Chandra Keyal Shri Surendra Keyal Shri V. K. Khandelwal Shri Yogesh Khanna Shri Pankaj Lohariwal Shri Praveen Mehrotra Shri Nirmalya Mukherjee Shri Pankaj Kumar Palriwala Shri Sanjib Kumar Patwari Shri Nirmal Saraf Shri Ashish Shah Shri Alkesh Sharma Shri Amrik Singh Shri Pawan Tibrewalla Shri Bipin K. Vohra
Textile & Jute
Chairman Co-Chairman Shri Srivatsa Kajaria Shri Gautam Jhunjhunwala Members Shri Birendra Agarwal Shri Bijay Gujarwasia Agarwal Shri Kunj Bihari Agarwala Shri B.N. Agarwala Shri Nivedan Churiwal Shri Arpit Dhandhania Shri Utkarsh Kanoria Shri Ravi Modi Shri Manish Poddar Shri Ravindra K. Poddar Shri Vicky Raj Sikaria Shri Pradip Kumar Todi Shri Madan Gopal Toshniwal
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Important :
The following Office Bearers of the Chamber are Ex-officio members of all the Standing Committees : Shri Vishal Jhajharia, President Shri Vivek Gupta, Senior Vice President and Shri Devesh Bansal, Vice President
MCCI Ladies Forum (MLF)
Chairperson Co-Chairperson
Smt. Prapti Jhajharia Smt. Ruchika Gupta
Members Smt. Divya Agarwal Smt. Niharika Agarwal
Smt. Sashi Agarwal Smt. Seema Agarwal
Smt. Anita Agarwala Smt. Rina Rani Bhandari
Smt. Saritaa Jalan Smt. Anju Jhajharia
Smt. Saroj Saraf Smt. Shibani Miraj Shah
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AFFILIATIONS
The Chamber is affiliated with the following Organisations: The Associated Chambers of Commerce & Industry of India, New Delhi All India Organisation of Employers, New Delhi
The following Organisations are affiliated with the Chamber : Association of National Exchanges Members of India (ANMI), EIRC Association of Corporate Advisers & Executives Bengal Timber Importers Association Calcutta Motor Dealers’ Association Computer Association of Eastern India (COMPASS) Foundry Cluster Development Association Outdoor Advertising Association Steel Re-Rolling Mills Association of India Tools & Alloy Steels Association The Jute Balers’ Association Welfare Society for the Members of Jalan Industrial Complex West Bengal Paper Traders Association
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REPRESENTATIVES OF MCCI ON PUBLIC BODIES (2018-19)
Public Bodies Representative
Steel Consumers’ Council President of the Chamber
CESC Consultative Committee Shri Ramesh Agarwal, Immediate Past (Jan. 2018 to Dec. 2019) President, MCCI
Regional Advisory Committee of Shri Arun Kumar Agarwal Central Excise, Kolkata ARS Management Consultancy Services Pvt. Ltd.
Divisional Railway Users’ Consultative Shri Pawan Tibrewalla Committee (DRUCC), Eastern Railway, Sreerampur Ispat (P) Ltd. Howrah (Oct. 2017 to Sept. 2019)
Divisional Railway Users’ Consultative Shri Salil Kumar Shaw Committee (DRUCC), South Eastern UAL Industries Ltd. Railway, Kharagpur (Oct. 2017 to Sept. 2019)
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Meetings held during the year 2018-19
Sl. No. Meetings/ Seminars/ Conferences Date
1. Interactive Session with H. E. Mr. Ton Sinh Thanh, Ambassador, 04.04.2018 Embassy of the Socialist Republic of Vietnam on ’Bilateral Trade Between India and Vietnam: Prospects & Way Ahead’. Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment, Government of West Bengal also spoke on the occasion.
2. Interactive Session with H E Mr. Riho Kruuv, Ambassador of the 06.04.2018 Republic of Estonia in India on “Doing Business with Estonia”.
3. Interactive Session with Mr. Demetrios A. Theophylactou, High 09.04.2018 Commissioner of the Republic of Cyprus in India on ’Doing Business with Cyprus’.
4. Launching of MCCI MSME Help Desk by Shri Rajiva Sinha, IAS, 17.04.2018 Additional Chief Secretary, Department of MSME & Textiles, Government of West Bengal. Col. Sabyasachi Bagchi, Chairman, The West Bengal Small Industries Development Corporation Ltd. was also present.
5. Interactive Session with Mr. Masayuki Taga, Consul General of Japan 18.04.2018 in Kolkata on the theme “Strengthening Indo-Japan Relations in Free and Open Indo-Pacific”. Dr. Srikanth, IAS, Officer on Special Duty, Ministry of Industry, Commerce & Enterprises, Govt. of West Bengal was also present.
6. Interactive Session with H.E. Mr. Fleming Duarte, Ambassador of 19.04.2018 Paraguay in India on the theme “Doing Business with Paraguay”.
7. Discussion on ‘NEW PROVISIONS UNDER THE INCOME TAX ACT 1961 19.04.2018 TO BE EFFECTIVE FROM ASSESSMENT YEAR 2018-19 & 2019-20’ with Chief Guest : Smt. Seema Khorana Patra, IRS, Principal Chief Commissioner of Income Tax, West Bengal & Sikkim, Govt. of India, CA Sanjay Bhattacharya, Tax Advisor and CA S. S. Gupta, Tax Advisor.
8. Seminar on “Cyber Security : Threats Towards Corporates” with Shri 20.04.2018 Santanu Chattopadhyay, Officer–in–Charge, Cyber Police Station, Kolkata Police, Lalbazar; Shri Sandeep Sengupta, Cyber Audit Expert
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& CEO, Indian School of Anti Hacking (ISOAH) Data Securities Pvt. Ltd. & Smt. Sanghita Mukherjee, Lawyer, Cyber Crime.
9. Workshop on ‘Presentation on the Companies Amendment Act, 2017 21.04.2018 & An insight on Kotak Committee recommendations accepted by SEBI’, by MCCI jointly with Institute of Company Secretaries of India, EIRC. Speakers : Smt. Mamta Binani, Shri Taposh Roy, Company Secretary, Vesuvius India Ltd. and CS Arundhati Bose.
10. Interactive Session with H. E. Mr. Adam Burakowski, Ambassador of 23.04.2018 Poland in India on ’Doing Business with Poland’.
11. Interactive Session with Mr. Ma Zhanwu, Consul General, The 25.04.2018 Consulate General of the People’s Republic of China in Kolkata on ’Doing Business with China’
12. Interactive Session with Dr. Craig Hall, Consul General, Consulate 02.05.2014 General of the United States of America in Kolkata and Mr. Jonathan Ward, Principal Commercial Officer, Consulate General of the United States of America in Kolkata.
13. MCCI FinTech Forum 2018 with Shri Debashis Sen, IAS, Additional 12.05.2018 Chief Secretary, Department of Information Technology & Electronics, GoWB and Chairman & Managing Director, Housing Infrastructure Development Corporation Ltd. As the Guest of Honour.
14. Interactive Session with H.E. Mr. Michael A. N. N. Oquaye Jnr., High 14.05.2018 Commissioner of Republic of Ghana in India on ’Doing Business with Ghana’
15. Session on “Relevance of Income Tax Settlement Commission in 15.05.2018 Current Scenario” 16. Interactive Session on “Bilateral Trade between India & Bulgaria” with 17.05.2018 H.E. Mr. Petko Doykov, Ambassador, Bulgaria
17. Interactive Session on ‘Eastern Railway – The Way 18.05.2018 Forward’ with Shri Harindra Rao, General Manager, Eastern Railway 18. 1st Workshop on Excel Analytics & Powerpoint Presentation Skills 19.05.2018
19. MCCI Destination Haldia Forum 2018 with Shri Suvendu Adhikari, 25.05.2018 Hon’ble Minister for Transport, Govt. of West Bengal & Chairman, Haldia Development Authority as the Chief Guest.
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20. Seminar on ‘GST -The Road Ahead : Challenges and Opportunities’ 28.05.2018 with Shri Arun Goyal, IAS, Special Secretary, GST Council & Project Monitoring Group of PMO as the Chief Guest.
21. Special Session with Smt. Smriti Irani, Hon’ble Minister for Textiles, 31.05.2018 Government of India on ‘Recent Developments in the Textile Industry & The Road Ahead’
22. Interactive Session with Shri Om Prakash Rawat, Hon’ble Chief 02.06.2018 Election Commissioner, Election Commission of India on ’Electoral Integrity and Role of Money in Elections’
23. Interactive Session with Shri Anil Swarup, IAS, Secretary, Department 04.06.2018 of School Education & Literacy, Ministry of Human Resource Development, Government of India on ’Creating a robust, just, reliable and student friendly public examination system in India’
24. MCCI East India Energy Forum 2018 “Eastern India Power Sector : 08.06.2018 Creating a Vision for the Future” with Shri Sobhandeb Chattopadhyay, Hon’ble Minister for Power & Non Conventional Energy Sources, Government of West Bengal as the Chief Guest.
25. Special Session with Shri Ashwini Kumar Choubey, Hon'ble Minister of 09.06.2018 State for Health & Family Welfare, Govt. of India on “Health & Family Welfare : Recent Trends & Road Ahead”
26. Interactive Session with Shri S. Ravi, Chairman, BSE Limited on ‘A 13.06.2018 Robust Stock Market and Financial Services Projects Economic Power’
27. The Kidopreneur Summit 16.06.2018
28. Interactive Session with H.E. Mr. Jan Luykx, Ambassador of the 26.06.2018 Kingdom of Belgium in India on ’Doing Business with Belgium’
29. Interactive Session with H.E. Mrs. Ma. Teresita C. Daza, Ambassador 06.07.2018 of Philippines in India on ’Doing Business with Philippines’
30. Session with Mr.Vinaya Varma, MD & CEO, Mjunction Services Ltd. on 10.07.2018 'e-Commerce in Steel-Journey So Far & Way Ahead'.
31. Seminar on “Business Growth through Digital Media” 11.07.2018
32. Interactive Session with Shri Subrata Mukherjee Hon'ble Minister for 19.07.2018
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Water Resources Investigation & Development (WRID) and Panchayat & Rural Development (PRD), Govt. of West Bengal
33. 2nd Workshop on Excel Analytics & Powerpoint Presentation Skills 20.07.2018
34. Seminar on “Bangladesh’s Graduation from LDC : Prospects of 23.07.2018 Bangladesh-India Economic Engagement” To Celebrate Bangladesh’s Graduation from LDC
35. Workshop with Shri Divesh Goyal, Shri Amit Gupta and Shri Sumit 26.07.2018 Binani on ‘Companies Act Amendments 2017 and SBO’
36. Meeting with Mr. Kumar De Silva, Chairman, Sri Lanka Convention 31.07.2018 Bureau and Mr. Lalit Peiris, Country Manager, Sri Lankan Airlines on ’Showcase & Promote Sri Lanka as a Destination for Meeting, Incentive, Conference & Exhibition (MICE)’
37. Session with Regional Head, ER, SIDBI on ’SIDBI’s Schemes for 03.08.2018 MSMEs’
38. Workshop on “Protection Against Cyber Crime & Hacking” with Shri 11.08.2018 Sandeep Sengupta, Cyber Audit Expert
39. Interactive Session with Shri Subhash Chandra Garg, IAS Secretary, 18.08.2018 Department of Economic Affairs, Ministry of Finance, Govt. of India on ‘Indian Economy : Current Trends & Future Outlook’
40. MCCI Mutual Fund Forum 2018 with Shri N S Venkatesh, CEO, 24.08.2018 Association of Mutual Funds in India (AMFI) as Guest of Honour.
41. Workshop Series on ''Performance Enhancement through Behavioral 25.08.2018 Change Emotional Intelligence : Develop your EI”
42. Session on 'Dynamic Changes in Compliance Requirements under the 08.09.2018 Companies Act,2013, e-filings(e-forms) & Precautions to be taken', jointly with the EIRC-ICSI.
43. 2nd Edition of the MCCI India Economic Forum 2018 on “Taking the 15.09.2018 Big Leap Forward” with Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment Government of West Bengal as Chief Guest.
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44. A multi-sectoral Business Delegation to Sri Lanka in association with 19.09.2018 the High Commission of India, The Ceylon Chamber of Commerce to (CCC) and Asst. High Commission of India, Kandy. 23.09.2018
45. Seminar on “Sustainable Initiatives in Power : Creating Values for 22.09.2018 Future” with Shri Sobhandeb Chattopadhyay, Hon’ble Minister for Power & Non Conventional Energy Sources, Government of West Bengal and Dr. A N Biswas, IAS, Commissioner, Department of Power & NES, Govt. of West Bengal, by MCCI in association with West Bengal State Electricity Board Officers’ Association 46. 117th Annual General Meeting of the Chamber 26.09.2018
47. 117th Annual Session of the Chamber with Smt. Smriti Z. Irani, 29.09.2018 Hon'ble Minister of Textiles, Govt. of India.
48. Adjourned Agenda of 117th AGM of the Chamber 29.09.2018
49. Orientation Session on Government e–Marketplace (GeM) 06.10.2018
50. First Press Meet by the President 10.10.2018
51. Interactive Session on ‘Corporate Insolvency Resolution Process, 03.11.2018 including PFUE (Preferential, Fraudulent, Undervalued and Extortionate) Transactions.’ With Dr. Navrang Saini, Wholetime Member of the Insolvency and Bankruptcy Board. 52. Interactive Session with H. E. Mr. Willy K. Bett, High Commissioner of 15.11.2018 the Republic of Kenya in India on ’Doing Business with Kenya’.
53. Session on 'Detail Analysis of the Companies (Amendment) Ordinance 17.11.2018 2018'.
54. MCCI Logistics Forum 2018 on “Regional Integration through 01.12.2018 Transport & Trade” with Mr. N. S. Nigam, IAS, Secretary, Department of Transport, Govt. of West Bengal and MD, WBTC and Mr. Vinit Kumar, Chairman, Kolkata Port Trust.
55. Special Session with Dr. Satya Pal Singh, Hon’ble Minister of State for 06.12.2018 Human Resource Development (Higher Education) and Water Resources, River Development & Ganga Rejuvenation, Government of India on ’Higher Education Scenario in India’.
56. MCCI Insurance Forum 2018 on “Indian Insurance Industry: the next 13.12.2018 Wave of Growth” with Chief Guest: Shri Nilesh Sathe, Member-Life,
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Insurance Regulatory and Development Authority of India (IRDAI).
57. Special Session on ‘Recent Changes in GST’ 11.01.2019
58. Interactive Session with Smt. Tajinder Mukherjee, Chairman-cum- 29.01.2019 Managing Director, National Insurance Co. Ltd. on “Way Forward for Insurance Industry in India”.
59. Discussion on ‘Settlement of Dispute Scheme 2019’ with Shri Adesh 30.01.2019 Kumar, Special Commissioner of Revenue and State Tax, Govt. of West Bengal and Smt. Nabanita Pal, Sr. Jt. Commissioner, Dte. of Commercial Taxes, GoWB, in association with O/o, Commissioner, Commercial Taxes, Government of West Bengal. 60. Symposium on Union Interim Budget 2019-20 02.02.2019
61. Seminar on ‘Development of Food Processing Industries & 12.02.2019 Horticulture in West Bengal – The Road Ahead’ with Chief Guest : Janab Abdur Razzak Molla, Hon’ble Minister for Food Processing Industries & Horticulture, Government of West Bengal.
62. MCCI Bengal Agri-Business Forum on ‘Driving Agri-Business through 18.02.2019 electronic National Agriculture Market (eNAM) Platform & Farmer Producer Organisations (FPOs)’, with Mr. P. K. Mazumdar, Adviser to CM of West Bengal on Agri & Allied Department, Mr. Naveen Prakash, IAS, Additional Chief Secretary, Department of Agriculture, Irrigation & Waterways, Govt. of West Bengal, Mr. Rajesh Kumar Sinha, IAS, Secretary, Deptt of Agri Marketing, Govt. of West Bengal.
63. Seminar on ‘Way Forward to “Skill Bengal”: Reforms, Challenges and 19.02.2019 Imperatives’ with Shri Purnendu Basu, Hon’ble Minister, Department of Technical Education, Training & Skill Development, Government of West Bengal.
64. Interactive Session on ‘Indian Mutual Fund Industry: The Next Phase 23.02.2019 of Growth’ with Shri S. V. Murlidhar Rao, Executive Director, Securities and Exchange Board of India (SEBI).
65. Interactive Session on 'The Biggest Economic Reform - The 02.03.2019 Insolvency & Bankruptcy Code'.
66. MCCI Durgapur–Asansol–Raniganj Forum 2019 on “Facilitating 09.03.2019 Sustainable & Inclusive- Growth”, Shri Swapan Debnath, Hon’ble MoS for Micro, Small & Medium Enterprises & Textiles and Animal
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Resources Development (Ind. Charge), Govt. of West Bengal as Chief Guest and Shri Tapas Banerjee, Hon’ble Member of West Bengal Legislative Assembly & Chairman, Asansol–Durgapur Development Authority as Guest of Honour.
67. Special Session ‘Anti-Profiteering in GST’ with Shri B. N. Sharma, IAS, 15.03.2019 Chairman, National Anti-Profiteering Authority (GST).
68. Session on ‘Demat of Unlisted Companies & its Shares & e-voting of 15.03.2019 Stakeholders’ with Shri Nitin Ambure, Vice President (Operations), Central Depository Services Ltd.
69. MCCI Retail Forum 2019 on ‘E-Retail Vs Brick & Mortar Retail : 20.03.2019 Convergence for a Better Living’ with Shri Sadhan Pande, Hon’ble Minister, Departments of Consumer Affairs and Self Help Group & Self Employment, Government of West Bengal as Chief Guest.
70. 2nd Workshop Series on Performance Enhancement 23.03.2019 through Behavioural Change.
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PAST PRESIDENTS
* Shri Nanakram Sureka 1901-1920 * Shri Tejpal Sanganeria 1921-1923 * Shri Sadaram Kheria 1924-1936 * Shri Radhakishan Sanganeria 1937-1947 * Shri Gajanand Himatsingka 1948-1949 * Shri Baijnath Sanganeria 1950 * Shri Dharamchand Saraogi 1951 * Shri Chouthmal Saraf 1952-1957 * Shri Sawalram Goenka 1958-1960 * Shri Beniprasad Dalmia 1961-1965 * Shri Bhagwati Prasad Agarwala 1966-1967 * Shri Bijay Singh Kothari 1968-1969 * Shri Shree Niwas Dalmia 1970-1971 * Shri Atmaram Kanoria 1972-1973 * Shri Bijoy Kumar Swaika 1974-1975 * Shri Doongar Mal Kothari 1976-1977 Shri Atmaram Sonthalia 1978 * Shri Madan Lal Saraf 1979 * Shri Hira Lall Somany 1980 & 1981 Shri Bimal Kumar Jhajharia 1982 & 1983 * Shri Shyam Sunder Sanganeria 1984 Shri Mahesh Chandra Shah 1985 * Shi Radhe Shyam Bhartia 1986 * Shri Purushottam Das Tulsyan 1987-88 & 1988-89 Shri Amitav Kothari 1989-90 * Shri Chandra Kumar Somany 1990-91 Shri Arun Kumar Churiwal 1991-1992 * Shri Jay Prakash Tantia 1992-1993 Shri Suresh Jhunjhunwala 1993-1994
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Shri Radhe Shyam Agarwal 1994-1995 Shri Sheo Shankar Bagaria 1995-96 & 1996-97 Shri Birendra Agarwal 1997-1998 Shri Ajay Kumar Kajaria 1998-1999 Shri Ravi Todi 1999-2000 Shri Sushil Dhandhania 2000-2001 Shri Sunil Kanoria 2001-02 & 2002-03 Shri Kunj Bihari Agarwala 2003-2004 Shri Aditya Vardhan Agarwal 2004-2005 Shri Santosh Saraf 2005-06 & 2006-07 Shri Atul Churiwal 2007-08 Shri Anupam Shah 2008-09 Shri Shyam Sundar Beriwala 2009-10 Shri Sudesh Sonthalia 2010-11 Shri Manish Goenka 2011-12 Shri Deepak Jalan 2012-13 Shri Sanjay Agarwal 2013-14 Shri Arun Kr. Saraf 2014-15 Shri Manish Goenka 2015-16 Shri Hemant Bangur 2016–17 Shri Ramesh Agarwal 2017–18
* Since deceased **********************
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