MERCHANTS’ CHAMBER OF COMMERCE & INDUSTRY (Established in 1901)

REPORT OF THE COMMITTEE FOR THE YEAR 2019-2020

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

MERCHANTS’ CHAMBER OF COMMERCE & INDUSTRY 15B, Hemanta Basu Sarani, Kolkata 700001

Dated: 20 July 2020

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 2020 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,

Vivek Gupta President

Aakash Shah Senior Vice President

Rishabh C Kothari Vice President

Arun Kumar Dalmia Honorary Secretary

Bharat Agarwal Treasurer

CONTENTS

Page No.

1. Members of the Committee for the year 2019–2020...... 7

2. 118th Annual General Meeting...... 10

3. Interactive Sessions/Symposia/Workshops...... 20

4. MCCI Ladies Forum...... 78

5. Other Important Events...... 82

6. Press Communique...... 86

7. Representations / Memoranda...... 91

8. Working of MCCI Councils...... 98

9. Other Activities of the Chamber...... 100

10. Past Trustees / Advisory Council / MCC Foundation / Councils...... 101

11. Affiliations...... 113

12. Representatives of MCCI on Public Bodies...... 114

13. Meetings held during the year...... 115

14. Past Presidents...... 120

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Merchants’ Chamber of Commerce & Industry MEMBERS OF THE COMMITTEE FOR THE YEAR 2019–2020

Office Bearers President : Shri Vivek Gupta Senior Vice President : Shri Aakash Shah Vice President : Shri Rishabh C Kothari Hony. Secretary : Shri Arun Kumar Dalmia Treasurer : Shri Bharat Agarwal

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 S K 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 Shri Vishal Jhajharia

Annual Report 2019-20 7 Merchants’ Chamber of Commerce & Industry

MEMBERS OF THE COMMITTEE

Shri Arun Kumar Agarwal Shri Bhagwandas Agarwal

Shri Bijay Gujarwasia Agarwal Shri Brij Bhushan Agarwal

Shri Deepak Kumar Agarwal Shri Mahesh Kumar Agarwal

Shri Mahendra Kumar Agarwal Shri Manish Agarwal

Shri Mayank Agarwal Shri Naresh Kumar Agarwal

Shri Ravi Agarwal Shri Shyam Lal Agarwal

Shri Suresh Agarwal Shri Brahmanand Agarwala

Shri Arvind Agrawal Shri Subodh Kumar Agrawal

Shri Abhishek Bagaria Shri Pulkit Baid

Shri Santosh Bajaj Shri Namit Bajoria

Shri Devesh Bansal Shri Sunil Bansal

Shri Tushar Basu Shri Lalit Beriwala

Shri Vishnu Kumar Bhandari Shri Rajiv Bhartia

Smt. Mamta Binani Shri Srinjoy Bose

Shri H P Budhia Shri Ravindra Chamaria

Shri Sudeep Chitlangia Shri Kamal Kumar Dugar

Shri Tulsi Kumar Dugar Shri Devendra Goel

Shri Amit Goenka Shri Girdhari Lal Goenka

Shri R.S. Goenka Shri Manish Gourisaria

Shri Kailash Chand Goyal Shri Arun Kumar Jagatramka

Shri Chandra Kumar Jain Shri Ravi Jain

Shri Sanjay Jain Shri Sanjay Kumar Jain

Shri Munish Jhajharia Shri Radhey Shyam Jhawar

Shri Anirudh Jhunjhunwala Shri Nirmal Kaushik

8 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Bimal Kumar Kejriwal Shri Mahesh Chandra Keyal

Shri Surendra Keyal Shri Rajendra Khandelwal

Shri Sharad Kumar Khaitan Shri Manaswy Kothari

Shri Sanjib Kumar Kothari Shri Smarajit Mitra

Shri Banwari Lal Mittal Shri Rajesh Mittal Shri Pawan Kumar Patodia Shri Sanjib Kumar Patwari Shri Lavesh Poddar Shri Pawan Kumar Rajgaria Shri Sanjay Rasiwasia Shri Rahul Saraf Shri Avinash Sawalka 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 Ashok Kumar Todi Shri Pradip Kumar Todi Shri Adarsh Tulshan Shri Aditya Vikram Birla Shri Srivatsa Kajaria

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 Asst. Director General : Shri Sushantjit Dey Deputy Secretary : Shri Rajiv Mukerji Deputy Secretary : Shri Avishek Mukherjee Assistant Secretary : Shri Arijit Dey

*************** Annual Report 2019-20 9 Merchants’ Chamber of Commerce & Industry

118th ANNUAL GENERAL MEETING

on 30 December 2019 at MCCI Conference Hall

Shri Bharat Agarwal, Honorary Secretary & reach–out programmes at Durgapur, Haldia and welcomed all the members present to the 118th Medinipur. He also discussed about his ‘unfinished Annual General Meeting of the Chamber. He agenda’ and suggested that the new Committee requested Shri Vishal Jhajharia, President to take the Chair in terms of Article 16(a) of the Articles of may consider opening up an office in New Delhi and Association of the Chamber. harness the geographical advantages in countries The Chairman thanked the Honorary Secretary like Nepal, Bhutan and adjoining states like Bihar, and greeted all the members present including Jharkhand, Orissa and others. the Past Presidents with a warm welcome. Since Shri Vishal Jhajharia sincerely and gratefully the requisite quorum was present he declared the acknowledged the unstinted support and wise meeting open. He also extended a cordial welcome to the authorized representative of the statutory counsel provided by the Trustees, Past Presidents, Auditors, M/s K. Prasad & Co. Members of the Committee, Chairmen and Co- Chairmen of Standing Committees. He appreciated The Chairman outlined the activities of the Chamber of Commerce during the year, with special the dedication and hard work put in by the reference to the Meetings with several Dignitaries. Secretariat to make all programmes and activities He said that the indomitable spirit and quest to fruitful and visible. build an institution to safeguard the interests of the indigenous business community led to the birth AGENDA OF THE ANNUAL GENERAL MEETING of a Baishya Sabha, with the changing times now The Hony. Secretary read out the Notice it stands as Merchants’ Chamber of Commerce & dated 12th December, 2019 convening the AGM. Industry, standing strong with great ballast and The Chairman put forth the following resolutions: resilience as one of the leading and front-ranking Chamber of commerce and industry in the region. ORDINARY BUSINESS Built on Trust, the Chamber has always been RESOLUTION No. 1 : APPROVAL AND ADOPTION committed to the maximisation of three fundamental OF ANNUAL REPORT OF THE COMMITTEE : goals: better service to members, greater visibility To receive, consider and adopt the Report of and wider reach. He said that an institution is the Committee for the year 2018–19. larger than an individual and that ethos should be maintained. “RESOLVED THAT the Report of the Committee The Chairman made a special mention of for the year 2018–19 be hereby adopted.” programmes with the Central and State Ministers, Proposed by : Shri Suresh Jhunjhunwala Departmental Secretaries, India Economic Forum, Seconded by : Shri Santosh K Saraf other sectoral programmes like Retail, Fintech, Insurance, Energy, Agri Exports, Education etc., The Resolution was put to vote and carried programmes of MLF as also of MSME Help Desk unanimously. 10 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

RESOLUTION No. 2 : APPROVAL AND ADOPTION hold office from the conclusion of the 118th AGM to OF FINANCIAL STATEMENTS OF THE CHAMBER. the conclusion of the 119th AGM be and is hereby ratified and that the Committee be and is hereby To receive and consider the audited Balance authorised to fix such remuneration in consultation Sheet and Statement of Income & Expenditure with the said Auditors.” Account of the Chamber for the year ending 31st March, 2019 along with the Report of the Auditor “RESOLVED FURTHER THAT the honorarium and adopt the same. for the year 2019–20 shall be Rs. 30,000/- (Rupees Thirty thousand only) plus GST. “RESOLVED THAT the audited Balance Sheet and the Statement of Income & Expenditure Proposed by : Shri Birendra Agarwal Account of the Chamber for the year ending 31st Seconded by : Shri Sushil Kumar Dhandhania March, 2019 along with the Report of the Auditor The Resolution was put to vote and carried be hereby adopted.” unanimously. Proposed by : Shri Deepak Jalan SPECIAL BUSINESS Seconded by : Shri Ramesh Agarwal RESOLUTION NO.4 :BUDGET OF THE CHAMBER The Resolution was put to vote and carried FOR THE YEAR 2019–20 unanimously. To receive, consider and adopt the Budget of RESOLUTION No. 3 : APPOINTMENT OF the Chamber for the financial year 2019–20 and AUDITORS in this regard to consider and, if thought fit, to To ratify the appointment of Statutory Auditors pass with or without modification(s), the following for the financial year 2019-20 and to fix their Resolution as an Ordinary Resolution : remuneration and in this regard to consider and, if “RESOLVED THAT the Budget of the Company thought fit, to pass with or without modification(s), for the financial year 2019-20 be and is hereby the following Resolution as an Ordinary Resolution: approved and adopted.” “RESOLVED THAT pursuant to the provisions Proposed by : Shri A R Sonthalia of sections 139, 141 read with the Companies (Audit Seconded by : Shri M C Shah and Auditors) Rules, 2014 and other applicable provisions, if any, of the Companies Act, 2013 The Resolution was put to vote and carried (including any statutory modification(s) or re- unanimously. enactment(s) thereof for the time being in force) RESOLUTION NO.5 : ELECTION OF PRESIDENT, and pursuant to the resolution passed by the SENIOR VICE PRESIDENT, VICE PRESIDENT AND members at the 113th Annual General Meeting NINE MEMBERS OF THE COMMITTEE FOR THE (AGM) held on 30th September, 2014, appointing YEAR 2019–20. M/s. K. Prasad & Co., Chartered Accountants, Kolkata (ICAI Firm Registration No. 303062E), as RESOLUTION the Statutory Auditors of the Company, to hold TO ELECT THE PRESIDENT FROM AMONGST office till the conclusion of the 118th AGM of the THE MEMBERS AND TO CONSIDER, IF THOUGHT Company and pursuant to the recommendations of FIT, TO PASS, WITH OR WITHOUT MODIFICATION, the Committee of the Company, the appointment THE FOLLOWING RESOLUTION, AS AN ORDINARY of the said Statutory Auditors of the Company to RESOLUTION : Annual Report 2019-20 11 Merchants’ Chamber of Commerce & Industry

5 (a) “RESOLVED THAT in pursuance to the TO ELECT THE VICE PRESIDENT FROM provisions of Section 160 and other applicable AMONGST THE MEMBERS AND TO CONSIDER, provisions, if any, of the Companies Act 2013 and IF THOUGHT FIT, TO PASS, WITH OR WITHOUT the rules made there under (including any statutory MODIFICATION, THE FOLLOWING RESOLUTION, modification(s) or re-enactment(s) thereby for the AS AN ORDINARY RESOLUTION time being in force) read with Articles 13 (c) of the 5 (c) “RESOLVED THAT in pursuance to the Articles of Association of the Chamber, the consent provisions of Section 160 and other applicable of the Members of the Chamber be and is hereby provisions, if any, of the Companies Act 2013 and agreed to the appointment of Shri Vivek Gupta, DIN the rules made there under (including any statutory No. 00548992, as President of the Chamber for the modification(s) or re-enactment(s) thereby for Year 2019–20, to hold office from the conclusion of the time being in force) read with Articles 13(c) this Annual General Meeting until the next election is made.” (i) and Article 14(a) of the Articles of Association of the Chamber, the consent of the Members Proposed by : Shri B K Jhajharia of the Chamber be and is hereby agreed to the Seconded by : Shri Suresh Jhunjhunwala appointment of Shri Rishabh C Kothari, DIN No. The Resolution was put to vote and carried 00177074 as Vice President of the Chamber for the unanimously. Year 2019–20, to hold office from the conclusion of this Annual General Meeting until the next election TO ELECT THE SENIOR VICE PRESIDENT is made.” FROM AMONGST THE MEMBERS AND TO CONSIDER, IF THOUGHT FIT, TO PASS, WITH Proposed by : Shri Munish Jhajharia OR WITHOUT MODIFICATION, THE FOLLOWING Seconded by : Smt. Mamta Binani RESOLUTION, AS AN ORDINARY RESOLUTION. The Resolution was put to vote and carried 5 (b) “RESOLVED THAT in pursuance to the unanimously. provisions of Section 160 and other applicable The Chairman informed that the above provisions, if any, of the Companies Act 2013 mentioned persons would be the Office Bearers and the rules made there under (including any of the Chamber and would be the Directors of the statutory modification(s) or re-enactment(s) Chamber, under the provisions of the Companies thereby for the time being in force) read with Act 2013. Articles 13(c)(i) and Article 14 (a) of the Articles of Association of the Chamber, the consent of Agenda 5 (d) ELECTION OF COMMITTEE the Members of the Chamber be and is hereby MEMBERS : agreed to the appointment of Shri Aakash Shah, In terms of Article 14(b) of the Articles of DIN No. 02755758 as Senior Vice President of the Chamber for the Year 2019–20, to hold office from Association of the Chamber, 9 members of the the conclusion of this Annual General Meeting until Committee shall retire by rotation at this session. 9 the next election is made.” members, including those retiring by rotation shall be elected in place of those retiring. Proposed by : Shri Ajay Kajaria “RESOLVED THAT in pursuance of the Seconded by : Shri Arun Kumar Saraf provisions of Article 14(b) of the Articles of The Resolution was put to vote and carried Association of the Chamber, the following Members unanimously. be elected to the Committee.” 12 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Committee Member : 1. Shri Suresh Jhunjhunwala Committee Member : 6. Shri Akhil Sonthalia

Moved by : Shri Sanjay Jain Moved by : Shri Bijay Gujarwasia Agarwal Seconded by : Shri Sanjib Kothari Seconded by : Shri Lavesh Poddar The Resolution was put to vote and carried The Resolution was put to vote and carried unanimously. unanimously.

Committee Member : 2. Shri Arun Kumar Agarwal Moved by : Shri Sanjay Rasiwasia Committee Member : 7. Shri Shyam Lal Agarwal Seconded by : Shri Akhil Sonthalia Moved by : Shri Anirudh Jhunjhunwala The Resolution was put to vote and carried unanimously. Seconded by : Shri Manish Gourisaria The Resolution was put to vote and carried unanimously. Committee Member : 3. Shri Bharat Agarwal Moved by : Shri Nirmal Kaushik Seconded by : Shri Suresh Agarwal Committee Member : 8. Shri Rajiv Bhartia The Resolution was put to vote and carried unanimously. Moved by : Shri K C Goyal

Seconded by : Shri Tushar Basu

The Resolution was put to vote and carried Committee Member : 4. Smt. Mamta Binani unanimously. Moved by : Shri C K Jain Seconded by : Shri Arun Kumar Dalmia The Resolution was put to vote and carried unanimously. Committee Member : 9. Shri Pulkit Baid

Moved by : Shri Arvind Agrawal Committee Member : 5. Shri Sharad Khaitan Seconded by : Shri Pradeep Singhania Moved by : Shri Surendra Keyal The Resolution was put to vote and carried Seconded by : Shri Manaswy Kothari unanimously. The Resolution was put to vote and carried unanimously. Annual Report 2019-20 13 Merchants’ Chamber of Commerce & Industry

The Chairman congratulated Shri Vivek Gupta and cooperation of the Chamber towards addressing on his election as the President of the Chamber and members’ needs. expressed his satisfaction that he would hand over Smt. Mamta Binani spoke highly about the the baton to such a dynamic person. He felt that leadership of Shri Vishal Jhajharia, which has the Chamber would reach greater heights under inspired the younger generation of the Chamber. the dynamic leadership of Shri Vivek Gupta as the With accolades to the Trustees and past Presidents President. for their all round support, she congratulated the Shri A.R. Sonthalia complimented the outgoing young and vibrant incoming team. Team led by Shri Vishal Jhajharia for their immense Shri Vivek Gupta, the newly elected contribution to the Chamber. He said that it was a President thanked all the Trustees, Past Presidents, difficult period, but the results were far better than Committee Members and Members of the Chamber expected. The Secretariat had put in tremendous for the confidence and trust bestowed upon him effort during the year, he said. He extended hearty congratulations to the newly elected Office Bearers by electing him as President of MCCI. He sought for the year ahead. He was hopeful that Shri Vivek co-operation from all to enable him to discharge Gupta, with his huge contacts with the Government his responsibilities as the President of this august and the media, would scale up the activities further. body. Expressing his appreciation on an eventful Shri Vishal Jhajharia proposed the Vote year of the Chamber, Shri B.K. Jhajharia thanked of Thanks to the Chair and to the members for the outgoing Office Bearers’ Team led by Shri attending the session. Vishal Jhajharia, for their outstanding work. He congratulated the incoming Team under the Newly Elected Committee Presidentship of Shri Vivek Gupta and was hopeful The First Meeting of the New Committee was that the Chamber would attain newer dimensions held after the Annual General Meeting. and greater heights under his dynamic leadership. Shri Vivek Gupta, President took the chair He also put on record his appreciation for the and welcomed all members present to the First dedication and commitment of the Secretariat. Meeting of the New Committee. He felt that it is Shri Suresh Jhunjhunwala spoke highly one of the greatest honour and privilege for him to regarding the multifarious work of the Chamber. He have an opportunity to serve this 118 year old great felt that MCCI could play a more important role by legendary institution as the President. He said that partnering actively with the different Ministries & MCCI is one of the premiere chambers of Kolkata Departments of the Union & State Governments in and eastern India and recently the Chamber has addressing key economic issues. had good interactions with the Central and State Shri Birendra Agarwal appreciated the Governments, at all levels. The Chamber is steadily immense contribution of the outgoing President taking steps towards fulfilling member aspirations; to the Chamber as also for taking the Chamber Dedication and Talent are rewarded here, he noted. to greater heights. He spoke highly about the He acknowledged the tremendous Proceedings and Reports sent from the Secretariat. encouragement and motivation that he received He said that the members are now more confident from the Trustees, Shri A R Sonthalia and about the Chamber. Shri B K Jhajharia, whom he termed as the pillars Shri K C Goyal mentioned about the support of the Chamber. He expressed his heartfelt thanks 14 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry to them for their immense support, wise counsel more and more members of the Chamber should be and guidance. motivated/ activated to take up leadership roles to He expressed sincere thanks to the take the Chamber forward. It is extremely important immediate past President, Shri Vishal Jhajharia for to activate and motivate a bunch of leaders who the unstinted support, inspiration and guidance. He would like to contribute to the activities of the complimented Shri Jhajharia for his dedication to Chamber in future, he felt. the Chamber, especially on dealing with complex The President mentioned that change is the issues and situations. only constant and sometimes, change is necessary. He thanked all the Members for bestowing He hoped that with his Office Bearers, Shri Aakash their confidence in him and also thanked the Shah, Senior Vice President and Shri Rishabh Secretariat for their dedicated services. He sought Kothari, Vice President, MCCI Team will achieve co-operation, active support and guidance from greater heights for the Chamber. He assured that the all, particularly the new Office Bearers, Trustees, Chamber would take up issues of the members to Past Presidents & Committee Members in carrying the highest level. The Chamber can help in policy, in out the functions of the Chamber effectively and implementation of rules and regulations and other introducing new initiatives to the Chamber. incidental matters. “IF ONE CAN DO, YOU MUST DO; The President pointed out that of late, it has IF NO ONE CAN DO, YOU MUST DO”, he noted. become fashionable to use the words ‘democracy’ and ‘transparency’ without fully understanding Co-option to the new Committee the depth and width of these words and in the In terms of amended Article 13(c)(iii) of context that they are used. He urged the members the Articles of Association of the Chamber, the to convince, engage, talk to other people about Committee was required to co-opt Members from matters and viewpoints. He felt that one act alone among the past Presidents and from among other of a person does not define his/ her entire life and members including the immediate past President career. Similarly, one act of an institution doesn’t for the year 2019–20. define the institution in its entirety. He stressed on the ‘art of agree to disagree’ and felt that one Shri A. R. Sonthalia proposed the following should try and engage in a dialogue with people names from the two specific categories of A & B for rather than go for confrontation. the year 2019–20 in terms of the said Article 13(C) He mentioned that one of his first and (iii) of the Articles of Association of the Chamber. priority task will be to understand aspirations and Category A : Past Presidents : requirements of the members and fulfill them to the extent possible. He urged upon the members 1. Shri Sheo Shankar Bagaria to engage with the Chamber and send their 2. Shri Sushil K. Dhandhania suggestions. The Chamber is doing a lot of activities based on feedbacks and inputs received from the 3. Shri Kunj Behari Agarwala members, and is ready to do more, he observed. 4. Shri Aditya V. Agarwal He stressed upon good and continuous 5. Shri Atul Churiwal interaction with the Central and State Governments for the Chamber to have a leading role in advocacy 6. Shri Manish Goenka and policy implementation. He also mentioned that Annual Report 2019-20 15 Merchants’ Chamber of Commerce & Industry Category B : Other Members : Members as members of the Committee for the 1. Shri Vishal Jhajharia – Immediate Past year, 2019-20. He further mentioned that currently President there were 66 Director Members, out of whom 2. Shri Hari Prasad Budhia three members had been elected as President, 3. Shri R S Jhawar Senior Vice President and Vice President. As such,

Special Invitees the remaining 63 Director Members would become 1. Shri Srivatsa Kajaria ipso facto members of the New Committee, with 2. Shri Aditya Vikram Birla all rights and privileges, in terms of the aforesaid The proposal was unanimously approved by Article 13(c)(iv), subject to the payment of their the Committee. annual subscription. Nomination of Director Members : The Committee approved of the proposal. The President informed that in terms of Article

13(c)(iv) of the Articles of Association, the New The names of 66 Director Members are given

Committee was required to nominate all Director below : DIRECTOR MEMBERS FOR THE YEAR 2019–20

Sr. No. NAME OF COMPANY NAME OF REPRESENTATIVE 1 Adhunik Corporation Ltd. Mahesh Kr. Agarwal 2 Bajoria Entertainment Pvt. Ltd. (Kutchina) Namit Bajoria 3 Bengal Beverages Pvt. Ltd. Amit Goenka 4 Bharat Hitech (Cements) Pvt. Ltd. Naresh Kumar Agarwal 5 BDJ Oxides Private Limited Anirudh Jhunjhunwala 6 Calcutta Ferrous Limited Bhagwandas Agarwal 7 Celica Developers Pvt. Ltd. Adarsh Tulshan 8 Century Plyboards India Ltd. Sanjay Agarwal 9 CKC Fragrances and Flavours Pvt. Ltd. Rishabh Kothari 10 Duroply Industries Ltd. Sudeep Chitlangia 11 Dhanwantary Medicare & Research Centre Pvt. Ltd. Rajendra Khandelwal 12 EMAMI Ltd. R.S. Goenka 13 Essel Kitchenware Limited Kailash Chand Goyal 14 Forum Projects Pvt. Ltd. Rahul Saraf 15 Ganapati Balaji Spinning Mills Pvt. Ltd. Bijay Gujarwasia Agarwal

16 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Sr. No. NAME OF COMPANY NAME OF REPRESENTATIVE 16 Glaxo Finance Pvt. Ltd. Kamal Kumar Dugar 17 Gopika Projects Pvt. Ltd. Rohit Singhania 18 Greenply Industries Limited Rajesh Mittal 19 GNRE INFRA Pvt. Ltd. A.K. Jagatramka 20 Haldiram Bhujiawala Ltd. Manish Agarwal 21 J.G. Hosiery Pvt. Ltd. Sandeep Seksaria 22 Joonktollee Tea & Industries Ltd. Hemant Bangur 23 JRK Stock Broking Pvt. Ltd. Ravi Jain 24 JVS Securities Pvt. Ltd. Jyoti Vardhan Sonthalia 25 King Chemicals Sanjib Kumar Kothari 26 Lion Pictures & Frames (India) Ltd. Manish Gourisaria 27 Linc Pen & Plastics Limited Deepak Jalan 28 Lumino Industries Ltd. Devendra Goel 29 Lux Industries Ltd. Ashok Kr. Todi 30 Lux Industries Ltd. Pradip Kumar Todi 31 Meghalaya Cements Ltd. Mahendra Kumar Agarwal 32 Mortex (India) Mahesh Chandra Keyal 33 Multiwyn Industries Pvt. Ltd. Vishal Jhajharia 34 National Printing Works B.N. Agarwala 35 Neo Metaliks Limited Ravi Agarwal 36 Nipha Exports Pvt. Ltd. Aakash Shah 37 Phuguri Tea Estate Pvt. Ltd. Abhishek Bagaria 38 Pragya Mercantile Pvt. Ltd. Tulsi Kumar Dugar 39 Pratidin Prtakashani Pvt. Ltd. Srinjoy Bose 40 Priti A. Sureka Priti A. Sureka 41 Pulkit Veneer Mills Pvt. Ltd Pawan Kumar Patodia 42 Rajgaria Timber (P) Ltd. Pawan Kumar Rajgaria 43 Rashmi Metaliks Ltd. Sanjib Kumar Patwari 44 Ravindra Chamaria Ravindra Chamaria 45 Rupa & Co. Ltd. Ramesh Agarwal 46 Sanmarg Pvt. Ltd. Vivek Gupta 47 Sastasundar Ventures Ltd. B.L. Mittal 48 Satellite Progressive Developers Suresh Agarwal 49 Shailja Park Pvt. Ltd. Mayank Agarwal 50 Shakambhari Ispat & Power Ltd. Deepak Kumar Agarwal

Annual Report 2019-20 17 Merchants’ Chamber of Commerce & Industry

Sr. No. NAME OF COMPANY NAME OF REPRESENTATIVE 51 Shakti Logistics Pvt. Ltd. Lavesh Poddar 52 Shyam Metalics and Energy Ltd. Brij Bhushan Agarwal 53 Shyam Steel Industries Limited Shyam Sunder Beriwala 54 Shyam Steel Manufacturing Limited Lalit Beriwala 55 Siddha Real Estate Development Pvt. Ltd. Sanjay Jain 56 Singhania & Sons Pvt. Ltd. Pradeep Kumar Singhania 57 Skipper Limited Devesh Bansal 58 Smarajit Mitra & Associates Smarajit Mitra 59 SREI Equipment Finance Ltd. Sunil Kanoria 60 Sudhir Chandra Sur Degree Engineering College Taranjit Singh 61 Supreme Wood Products Pvt. Ltd. Manoj Kumar Beria 62 Swadeshi Marketing Pvt. Ltd. Sanjay Rasiwasia 63 Sawalka Kel Pvt. Ltd. Avinash Sawalka 64 T.T. Limited Sanjay Kumar Jain 65 UAL Industries Ltd. Arun Kr. Saraf 66 Utkarsh India Ltd. Sunil Bansal Nomination of Hony. Secretary and Treasurer Nomination of Chairman and Trustees of MCC for the year 2019–20 Foundation for the year 2019–20. In terms of Article 13(c)(ii) of the Articles of The following names were proposed as Association, the Committee was required to elect Chairman and Trustees of MCC Foundation for the Hony. Secretary and Treasurer from among its Members for the year 2019–20. year 2019–20 : The President proposed the names of Shri 1. Shri Vivek Gupta – Chairman [Ex officio] Arun Kumar Dalmia and Shri Bharat Agarwal as Hony. Secretary and Treasurer respectively for the 2. Shri Aakash Shah year 2019–20. Hony. Secretary : Shri Arun Kumar Dalmia 3. Shri Rishabh Kothari Treasurer : Shri Bharat Agarwal 4. Shri Arun Kumar Dalmia The proposal was approved unanimously by the Committee. 5. Shri A R Sonthalia Nomination of Chairman and Co-Chairman of the 6. Shri B K Jhajharia Advisory Committee for the year 2019-20 7. Shri S S Bagaria The President proposed the names of the Chairman & Co – Chairman of Advisory Committee 8. Shri Sushil Kumar Dhandhania for the year 2019 – 20. Chairman : Shri R S Agarwal 9. Shri Vishal Jhajharia Co–Chairman : Shri B K Jhajharia 10. Shri K C Goyal The Committee unanimously approved of the proposal. 11. Shri Bharat Agarwal 18 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

The above names were unanimously The President proposed the following approved by the Committee Expert Bodies and Councils, with the Chairman / Chairperson and Co-Chairman/ Co-Chairperson for Constitution of Councils for 2019–20 and each of them, for the year 2019–20. Appointment of Chairmen and Co-Chairmen. Advisory Council, MCC Foundation & Councils for 2019–20 Chairman Co-Chairman Advisory Council R. S. Agarwal B. K. Jhajharia Merchants’ Chamber of Vivek Gupta Commerce Foundation Chairperson Co-Chairperson MCCI Ladies Forum (MLF) Snigdha Shah Manasi Kothari

Councils for 2019–20

Sector Chairman Co-Chairman 1. Agriculture & Food Processing Suresh Agarwal 2. Banking & Finance Sanjay Rasiwasia Smarajit Mitra 3. Capital Market & Insurance Subodh Kumar Agrawal Girdhari Lal Goenka 4. CSR & Rural Development Rajendra Khandelwal Vaijayanti Pugalia 5. Direct Taxes Arvind Agrawal Ramesh Kumar Chokhany 6. Education & Skill Development Keshav Agarwal Taranjit Singh 7. Foreign Trade Mahesh Chandra Keyal Pawan Rajgaria 8. GST & Indirect Taxes Arun Kumar Agarwal Sushil Kumar Goyal 9. HRD Tushar Basu Abhishek Bagaria 10. Industry Anirudh Jhunjhunwala 11. Infrastructure & Real Estate Munish Jhajharia a. Vicky Raj Sikaria b. Kushal Rungta 12. IT & Communication Vishnu Kumar Bhandari a. Sanjib Sanghi b. Amit Sharma 13. Legal Mamta Binani Mahesh Shah 14. Logistics & Tourism Lavesh Poddar Suresh Kumar Agarwal 15. Membership Development Santosh Kumar Saraf Arun Kumar Saraf 16. MSME Sanjib Kumar Kothari Akhil Sonthalia 17. Power & Renewable Energy Devendra Goel Vinay Mohta 18. Retail Trade Namit Bajoria Manish Gourisaria 19. Steel Ravi Agarwal Deepak Kumar Agarwal

Annual Report 2019-20 19 Merchants’ Chamber of Commerce & Industry INTERACTIVE SESSIONS / SYMPOSIA / WORKSHOPS

KAZAKHSTAN – INDIA INVESTMENT FORUM

on 5 April 2019 at Hotel Hindusthan International

The Chamber organized Kazakhstan– Mr. Iskander Baitassov, Director of the India Investment Forum on 5 April 2019 at Hotel Representative Office in China, Kazakhstan Hindusthan International, which was addressed by Sovereign Wealth Fund “SAMRUK-KAZYNA” spoke the following speakers :: about Investment Opportunities of ‘Samruk-Kazyna’, yy H. E. Mr. Bulat Sarsenbayev, Ambassador of which is the world’s leading uranium producer, with Kazakhstan in India market share of about 21%.globally and it produces 50% of energy of Kazakhstan. It is also the leading yy Mr. Marat Birimzhan, Deputy Chairman of the telecommunication operator. National Company “KAZAKH INVEST” Earlier, in his Welcome Address, Mr. Vishal y y Mr. Iskander Baitassov, Director of the Jhajharia, President, MCCI in his welcome address Representative Office in China, “SAMRUK- said that trade turnover between the two countries KAZYNA” JSC amounted to USD 1.2 billion at the end of 2018, Addressing the Forum H. E. Mr. Bulat showing a 26.5 p.c. increase compared to a year Sarsenbayev, Ambassador of Kazakhstan in India earlier. India is an important oil importer and the said that trade between India and Kazakhstan grew proposed Turkmenistan–Afghanistan–Pakistan– from USD 460 million in 2014 to USD 1.2 billion in India Pipeline (TAPI) may boost the import of 2018. The number of flights between per week the natural gas by India from Kazakhstan. India has a two countries is 11 a week at present, which will civil nuclear pact with Kazakhstan for the purchase soon increase to 24.The priority areas for economic of uranium. The proposed North-South Transport cooperation for Kazakhstan are Oil and gas Corridor, through Kazakhstan-Turkmenistan-Iran- including atomic energy, Military, space, FinTech, India can significantly enhance India’s trade & International arbitration, Information Technology, economic engagement. Agriculture and food processing and Tourism. 460 Indian companies are registered in Kazakhstan of Mr. Sushil Patwari, Regional Chairman, whom 200 were registered last year. The obstacle FIEO, Eastern Region said that in addition to the to trade between the two countries is transport and proposed North – South Transport Corridor, an logistics. The cost of products is not competitive air corridor for trade in perishable items is under due to high cost of transportation. consideration. Areas of oil & gas, steel, medical tourism and ayurvedic treatment hold promise. Mr. Marat Birimzhan, Deputy Chairman of“KAZAKH INVEST” said that GDP of the country Mr. Arun Kumar Garodia, National Vice has increased 16-fold since 1991. Land wise, Chairman, EEPC India said that the engineering Kazakhstan is the 9thlargest country in the sector in India can be a major destination for capital world, 80% of its land is suitable for agriculture. inflows into the country. Kazakhstan has been able to attract FDI around The Forum ended with a hearty Vote of USD 300 billion, the top reasons for investing Thanks by Mr. Mahesh Keyal, Chairman, Standing being : Strategic Location, Established Market Committee on Foreign Trade, MCCI. Access, GDP growth, Rule of law investors’ rights protection and others. ************* 20 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SESSION ON AGRICULTURE EXPORT POLICY: ‘Opportunity for capturing overseas markets through the new Agriculture Export Policy’

on 10 April 2019 at Chamber

MCCI organizeda Session on Agriculture support farmers. Even though India exports only few Export Policy: ‘Opportunity for capturing overseas food commodities at present, the country currently markets through the new Agriculture Export ranks 10th among food exporting countries. Policy’ on 10 April 2019 at the Conference Hall of NABARD helps the Government in developing the Chamber. The session was addressed by: infrastructure in the agriculture sector and it is yy Shri A. K. Das, Joint Secretary, Department of preparing a base for creating produce that can be Agricultural Marketing, Govt of West Bengal exported. For the first time, Agriculture Officers will be posted at 15 Indian Embassies, including US, UK yy Shri B. R. Pattanaik, General Manager, and Kazakhstan who will promote Indian exports of NABARD agricultural commodities. yy Shri Archiman Lahiri, Deputy Director, Shri Archiman Lahiri, Deputy Director, MPEDA The Marine Products Export Development said that in 2017-18, Indian marine exports in terms Authority (MPEDA) of USD amounted to USD 7,081 million, up by 22% Addressing the Session, Shri A. K. Das, Joint year over year. In 2017-18, Indian marine products Secretary, Department of Agricultural Marketing, mainly went to the following destinations (on USD Government of West Bengal said that the new basis): 32.76 % of total Indian marine exports Agriculture Export Policy, which is yet to be accepted headed for USA, 31.60 % to South East Asia, 15.77% by the State Government, seeks to establish a to EU and 6.29 to Japan. stable trade policy. It brings reforms in APMC Act Earlier, in his Welcome Address and streamlines market fee. The policy sets up a Shri Santosh K. Roongtaa, Chairman, Standing Cluster facilitation centre and constitutes FPOs. Committee on Agriculture & Food Processing, The Policy seeks to set up a single supply chain MCCIin said that Government of India announced and standards for domestic and export markets the country’s first ever Agriculture Export along with quality and phyto-sanitary standards. Policy, 2018 last December, which envisages He spoke about 130 Sufal Bangla markets and the establishment of a Monitoring Framework at 17 Krishak Bazaars that have been integrated Centre with Department of Commerce as the nodal with the eNAM portal. In order to facilitate the Department. Total outlay for the implementation marketing of horticulture crops, the policy of of the Policy would be Rs. 1,400 crores, which ‘Participatory Farming’ has been introduced as an already exists under different schemes. The Policy arrangement between Farmer Producer Companies is aimed at doubling the agricultural exports from (FPCs) and private entrepreneurs to grow produce, USD 30 Billion at present to USD 60 Billion by fruits, vegetables, etc. The Government of West 2022 and reach USD 100 Billion in the next few Bengal has identified clusters for mango at Nadia, years thereafter. Murshidabad and Malda, clusters for potato have been identified at Hooghly, Purba Bardhaman, The Session ended with a hearty Vote Paschim Medinipur and Coochbehar. of Thanks given by Shri Suresh Agarwal, Co-Chairman, Standing Committee on Agriculture & Shri B. R. Pattanaik, General Manager, Food Processing, MCCI. NABARD said that so far, India had no Agriculture Export Policy and it had relied on ad hoc policies to ************* Annual Report 2019-20 21 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘GRADUATE INSOLVENCY PROGRAMME’ with Dr. M. S. Sahoo, Chairman, Insolvency & Bankruptcy Board of India (IBBI)

on 22 April 2019 at the Chamber premises

The Chamber organized Special Session on Secretary, B.E./B.Tech, post-graduate with major ‘Graduate Insolvency Programme’ with Dr. M. S. subjects in Economics, Finance, Commerce, Sahoo, Chairman, IBBIas Chief Guest on 22 April Management or Insolvency (with aggregate 50% 2019 at the Conference Hall of the Chamber. Dr. marks). Applicants should not be more than 28 Sahoo said that the 24–month programme is first of years old and the students will be selected on its kind in India as well as globally and has gathered basis on an entrance test, Graduate Insolvency immense support from the industry. It is an industry Programme Common Entrance Test. initiative that will reshape the Indian Insolvency Dr. Pyla Narayana Rao, Assistant Professor, industry. He noted that as per amendment on 1st School of Corporate Law, Indian Institute of April, 2018 of Regulation 5 of the Bankruptcy Board Corporate Affairs (IICA), also spoke about the of India (Insolvency Professionals) Regulations, details of the programme. 2016 any individual, who successfully completes Graduate Insolvency Programme, would be allowed The Session was conducted by Smt. Mamta to register as an Insolvency Professional with IBBI. Binani, Chairperson, Corporate Affairs Standing Education qualification for the course is: Chartered Committee. Accountant, Law, Cost Accountant, Company ************* INTERACTIVE SESSION OF SME KNOWLEDGE INITIATIVE ON ‘FMCG as Driver of MSME Growth’

on 23 April 2019 at the Chamber premises

MCCI organized an Interactive Session of losses over many decades, which reported its first SME Knowledge Initiative on ‘FMCG as Driver of net profit in 2016-17 and subsequently made a net MSME Growth’ on 23 April 2019 at the Conference profit of Rs. 10 crores on total income of Rs. 95 Hall of the Chamber, which was addressed by: crores in 2017-18 with projected net profit of Rs. yy Shri P. M. Chandraiah, MD and Director Finance, 26 crores in 2018 – 19. Bengal Chemicals & Pharmaceuticals Ltd. Dr. G. P. Sarkar, Founder Chairman, Allen yy Dr. G. P. Sarkar, Founder Chairman, Allen Group Group said that when a businessman is marketing Shri P. M. Chandraiah, MD and Director his product through advertisements, he should Finance, Bengal Chemicals & Pharmaceuticals have detrails about his competitors are doing. Ltd. (BCPL) said that the FMCG sector is the Innovation is important for both development and 4thlargest sector of the economy worth USD 53 presentation of products. One should sell better billion in 2017-18, which is expected to cross USD products than their competitors. 100 billion growing at a rapid rate. The three main segments in FMCG sector are Food & Beverage The Session was chaired by Shri Rishabh [19%], Healthcare [31%] and Personal Care [50%]. Kothari, Chairman, MSME Standing Committee, BCPL is a great turnaround story after continuous ************* 22 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON “INDIA-CHINA ECONOMIC TIES : A SUB-NATIONAL PERSPECTIVE” with Mr. Zha Liyou, Consul General of the Peoples’ Republic of China in Kolkata

on 25 April 2019 at MCCI Conference Hall

The Chamber organized a Session on “India- Bihar, UP and other places in Eastern India from China Economic Ties : A Sub-National Perspective” various provinces of China. Bengali films from with Mr. Zha Liyou, Consul General, The Consulate Tollywood could be shot in China. For enhancement General of the Peoples’ Republic of China in Kolkata of various business activities in China from eastern on 25th April 2019 at its premises. The Session was India as also for people to people exchange, the also attended by Ms. Prapti Jhajharia, Chairperson, Consulate in Kolkata could be a bridge. There MCCI Ladies Forum, Ms. Zheng Huiqun, wife of the could be exchange of more business Delegations Consul General and senior officials of the Consulate between Kunming & Kolkata with focus areas like in Kolkata. agro technology, mining, healthcare & hospitals, Referring to age-old relationship between tourism & hotels, sold waste management, among India & China dating back to the times of others. Historians like Fa Hien and Hiuen Tsang, Mr. Zha For BCIM and Kolkata–Kunming Bullet Train, Liyou felt that to in order to strengthen bi-lateral Yunnan is ready with infrastructure and technology, relationships, sub national relationships at the but there are too many bottlenecks, as the project state/ provincial level should be fostered better. passes through several countries, he noted. These sub–national relationships could prove to be instrumental in finding business solutions to Earlier, in his Welcome Address, Shri Vishal further promote economic, cultural and educational Jhajharia, President of the Chamber, spoke about ties between two countries at the national level. India’s huge trade deficit with China, which has He said that Kolkata–Kunming and West Bengal– been an area of concern. However, India’s trade Yunnan relationships could be taken to a new high deficit with China declined by 12.1% during April- even though India & China have different political December, 2018-19. He felt that to make bilateral structure with India having collaborative federalism economic relations more comprehensive and trade and China having strong Government at the Centre. more balanced, both India and China should work The Consul General pointed out that the together towards providing more market access for sectors of Manufacturing, Food Processing, Indian products in China. Despite establishing sister Finance, Technical Training, tourism including city status between Kunming and Kolkata around pilgrimage to Buddhist religious sites, Media, Youth 6 years back, trade, economic and tourism ties Services including Sports, Environment, Shooting between Bengal and Yunnan had not improved as Films, among others, could play a major role in per potential. strengthening the relationship. He mentioned The Session ended with a hearty Vote of that Indian Food Industry does not have a good Thanks by Shri Sanjib Kothari, Co–Chairman,Foreign presence in China, which is a area to be developed. Tourism services could be developed to Bodh Gaya, Trade Standing Committee of the Chamber. Nalanda and other Buddhist pilgrimage sites in ************* Annual Report 2019-20 23 Merchants’ Chamber of Commerce & Industry

INTERACTIVE SESSION ON ‘Corporate Challenges in the Age of Technological Disruption : Strategic Do’s and Dont’s’

on 17 May 2019 at MCCI premises

The Chamber organized a Session on corporates have to look at future with an open ‘Corporate Challenges in the Age of Technological mind. Business leaders of today will have to Disruption : Strategic Do’s and Dont’s’ on 17 May be ready to even disturb one’s own model, to 2019 at its [remises, which was addressed by: defend its enterprises to defend against disruptive yy Shri Partha Ghosh, B-Tech (IIT,KGP), MS(MIT), innovations. To be able to sustain itself, one has to MBA(MIT), AMP (Harvard), Ex-McKinsey organize oneself in a world of global disruptions, as (Senior Partner) & International Strategy a blend of finetuning local and global perspectives.” Expert The Vice Chancellor of MAKAUT, yy Dr. Saikat Maitra, Vice Chancellor, Maulana Abul Kalam Azad University of Technology - Dr. Saikat Maitra focused on academic processes MAKAUT (formerly West Bengal University to be initiated to make the next generation ready of Technology - WBUT) to face emerging business challenges. Shri Partha Ghosh mentioned that in the era The Session was conducted by Shri Tushar for knowledge intensity and increasing complexity, Basu, Chairman, HRD Standing Committee, MCCI.

INTERACTIVE SESSION ON “Critical Issues in GST Annual Return and Audit”

on 25 May 2019 at MCCI premises

The Chamber organized an Interactive scheme under GST. GSTR 9B should be filed by Session on “Critical Issues in GST Annual Return the e-commerce operators who have filed GSTR 8 and Audit” with Mr. Khalid Aizaz Anwar, Sr. Joint during the financial year. GSTR 9C should be filed Commissioner, Commercial Taxes, Govt. of West by the taxpayers whose annual turnover exceeds Bengal as Chief Guest, on 25 May 2019 at MCCI Rs 2 crores during the financial year. Conference Hall. The Session was chaired by Mr. Khalid Aizaz Anwar said that the issues Mr. Arun Kumar Agarwal, Chairman, Standing are likely to be addressed soon by the GST Council Committee on GST & Indirect Taxes, MCCI, who and a circular will be issued shortly explaining these spoke about critical issues regarding filing of GSTR- issues. He said that where ever the period April to 9, the Annual Return and GST Audit. The return is September have been mentioned, it may be read as to be filed once in a year by registered tax payers, April to March as the return has to be submitted including those under composition scheme, he noted. for the whole financial year. He mentioned that Mr. Sushil Kumar Goyal, Co-Chairman, his intention is to know the problems faced by Standing Committee on GST & Indirect Taxes, the assesses and professionals, so that he can the MCCI explained about GSTR 9, GSTR 9A, 9B & same up in appropriate forum for redressal. 9C, GSTR 1, and GSTR 3B. GSTR 9A should be Mr. Sushil Kr. Goyal offered a hearty vote of filed by the persons registered under composition thanks. 24 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

MSME HELP DESK & WORKSHOP

on 30 May 2019 at Midnapore Town

The Chamber organized a full dayreach–out Shri Raj Kumar Middya said this Help Desk MSME Help Desk & Workshop, in collaboration & Workshop has given an excellent opportunity to with Confederation of Purba & Paschim Medinipur connect with the MSME units & entrepreneurs of District Chambers of Commerce [DCCI, an apex Paschim Medinipur. He felt that this type of reach Chamber body in the districts of Purba & Paschim out initiatives not only help the existing units but Medinipur] on Thursday, 30 May 2019 at DCCI also motivate the prospective ones to take up premises, Midnapore. The Workshop was addressed entrepreneurship as a career alternative. by the following Speakers : Shri Uttam Kumar Adhikary focused on yy Shri Raj Kumar Middya, Joint Director, MSME, bridging the skill gap and the importance of having Government of West Bengal & Chief Mentor, MCCI MSME Help Desk as Guest of Honour trade based skilled labour. He stressed on having tie–ups with the reputed universities for skill yy Shri Uttam Kumar Adhikary, Additional development. District Magistrate and District Land & Land Reforms officer, Paschim Medinipur In his Theme Address, Shri Sanjib Kothari observed that despite its growth and huge yy Shri Sanjib Kothari, Co Chairman, Standing potential, the MSME sector has been beset with Committees on Foreign Trade and GST & Indirect Taxes, MCCI its own challenges. While at the macro level, there is stiff competition from large companies and y y Shri Ananda Gopal Maity, President, DCCI unpredictable markets conditions, the challenges yy Shri Akhil Sonthalia, Co Chairman, Standing are manifold at the micro level too. Committee on MSME, MCCI In his Inaugural Remarks, Shri Akhil Sonthalia yy Shri Debabrata Roy, General Manager, mentioned that the Chamber strongly believes that District Industries Centre, Paschim Medinipur if MSMEs are provided with adequate mentoring yy Shri Ritwik Biswas, Assistant Director, & hand holding support, their productivity would MSME–DI, Kolkata &District Nodal Officer increase and they would be able to perform (designate), Paschim Medinipur, Govt. of India according to their capability. yy Shri Dwibhujendra Sarkar, Lead District The Workshop was followed by MSME Help Manager, Paschim Medinipur, United Bank of Desk, wherein the mentee–units were provided India mentorship on issues regarding GST & Taxation, yy Shri Indranil Seth, Lead Manager, Paschim Finance, general MSME Compliances, Land issues, Medinipur, State Bank of India Marketing assistance etc. Hands–on assistance yy Shri Sukhendu Jana, District Food Processing were provided on Udyog Adhaar Memorandum Development Officer, Howrah, Paschim (UAM) Registration to the mentees by M/s. Suvidha Medinipur & Jhargram, Bankura, Government Consultants, Technical Partner of the initiative. of West Bengal *********** Annual Report 2019-20 25 Merchants’ Chamber of Commerce & Industry

MCCI FINTECH FORUM 2019 FinTech : Digitally Disrupting the Financial World

on 12 June 2019 at The Lalit Great Eastern Hotel, Kolkata

The Chamber organized the 2nd edition ambit, he noted. He noted that the rural/ semi–urban of MCCI FinTech Forum 2019 with the Theme - unorganized section of the population is benefiting “FinTech : Digitally Disrupting the Financial World” from digitization. If the prices of mobiles are dropped, on 12 June 2019 at The Lalit Great Eastern Hotel, penetration would also increase, as currently, only Kolkata. 30% of all Indians have smartphones, he added. Shri Deepak Kumar said the in a country of Inaugural Session :Future Landscape of FinTech 1.23 billion people, only 10~20% of population are Ecosystem – Vision 2025 driving the growth. He felt that a ‘Big push’ would The Inaugural Session was addressed by : be needed to take the economy to the next level and FinTech has got a huge role to play to facilitate this. yy Shri Debashis Sen, IAS, Additional Chief He mentioned that Israel has shown the way with Secretary, Department of IT & Electronics, FinTech. India is ahead in payment systems and the Govt. of West Bengal – Chief Guest country ranks high in FinTech adoption rates. y y Shri Deepak Kumar, CGM-In-Charge, Shri K. K. Gupta discussed that traditional Department of Information Technology, banks used to take a much longer time for Reserve Bank of India – Guest of Honour loan processing and others. The whole system yy Shri K.K. Gupta, Director, Resurgent India Ltd. has undergone a huge change. Now, if all the – Special Guest parameters are clear, loans can be sanctioned/ rejected for MSMEs within a few minutes. India has yy Shri Neeraj Kulshrestha, CBO, BSE Ltd. – the 3rd largest market in the world, with FinTech, Special Guest this will even be deeper and stronger. With rapid yy Shri Ambarish Dasgupta, Sr. Partner & changes and innovation, a new of level of business confidence is emerging. Founder, Intueri Consulting & Principal Advisor, WEBEL – Special Guest Shri Neeraj Kulshrestha said that FinTech has 3 major pillars viz. Connectivity, Automation and Dwelling on the Inaugural Theme of “Future Intelligence. Data is the ‘New Oil’ and FinTech is the Landscape of FinTech Ecosystem – Vision 2025”, Shri 4th Industrial Revolution, which is technological Debashis Sen, in his Keynote Address, said that the revolution involving Cloud, Internet of Things, Big amount of data consumed is the highest in India, which Data and others.Despite being a late entrant, India is around 8 GB per person per month. He urged upon has a large FinTech ecosystem. The country has 37 the FinTech community to reach out to the unbanked cr. mobile users, 34 cr. Jan Dhan accounts, 123 cr sector and the last segment of the society to ensure plus AADHAR cards and others. He informed that financial inclusion. Creation of e–marketplace for the at BSE, which is FinTech enabled, the response last mile connectivity is extremely important. Start– time is 6 microseconds. ups should be involved and more & more people in Shri Ambarish Dasgupta observed that Tier II & Tier III cities should be brought under its FinTech till today has not been considered as an 26 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry essential commodity in every corner of the country. by 2022, according to the IDC Financial Insights He felt that FinTech is not a luxury, it should cater report titled ‘The Future of Payments in India: More to the millions of people. In a bid to integrate Spectacular Growth Ahead’. He also referred to the FinTech into the core sectors, he stressed on the Bengal Silicon Valley IT Hub near the Fintech Hub, creation of a Consortium with the policy makers where already leading IT & technology firms have and core sectors, to identify the sectors that would taken land. contribute significantly to the economy. The Inaugural Session ended with a Earlier in his Welcome Address, Shri Vishal hearty Vote of Thanks by Shri Sanjay Rasiwasia, Jhajharia, President, MCCI said that It is projected Chairman, Standing Committee on Banking & that digital payments in India will supercede cash Finance, MCCI.

Technical Session I : ‘Financial Sector – Riding the FinTech wave’

Speaker Topic

Shri Smarajit Mitra, Managing Partner, Smarajit Mitra & Associates & Co-Chairman, Standing Committee on Banking & Finance, MCCI – Moderator

FinTech Branding: Connect and Matter more to Shri Rajesh Singhal, AVP, Brand Capital Customer

Shri Ashis Bubna, Founder Director, Monexo P2P Lending: Bank in a Box Fintech Pvt. Ltd.

Shri Gaurav Sharma, National Head-Operations, Artificial Intelligence in Insurance Bajaj Allianz General Insurance Co. Ltd.

Shri Smarajit Mitra said that in India, in the Shri Ashis Bubna He pointed out that using last 3 years, from 2016–17, 2017–18 and 2018–19, FinTech, internet/ mobile penetration can bring in $ 5.6 billion have come into the FinTech sector. On huge disruptions and facilitate widespread reach. last mile connectrivity, suitable software should P2P lending can help in a big way. have an interface with the vernacular languages will be crucial, he noted. Shri Gaurav Sharma mentioned that with the Shri Rajesh Singhal was of the opinion that advent of Artificial Intelligence (AI), Insurance is FinTech is a long term venture, at least of 8~10 becoming more and more innovative. Data Oiling, years. Compliance will take 1st 2~3 years with the Data Analysis and Cognitive Learning is becoming revenue starting from 4th year onwards. He spoke about the 3 pillars of success in FinTech: Compliance, important. AI is extremely useful in detecting fraud Operations and Brand Value & Perception. elements, he added.

Annual Report 2019-20 27 Merchants’ Chamber of Commerce & Industry

Technical Session II : ‘FinTech in India : Are we on track or moving slow’

Speaker Topic Shri Abhishek Agarwal, Chief Regional Officer (India), ACCION – Moderator Shri Abhishek Rungta, MD & CEO, Indus Net Making Digital Innovation work for Banks and Technologies Insurers Shri Somak Sarkar, Sr. Manager-Business Banks & FinTech: Scope & Opportunities for Development, NPCI Collaboration Dr. Sushmita Ruj, Associate Prof., Cryptology & Regulating FinTech: Addressing Challenges in Security Research Unit, Indian Statistical Institute Cybersecurity and Data Privacy Shri Pronab Chatterjee, Sr. VP-Sales (BFSI), FinTech for Financial Inclusion Senrysa Technologies Pvt. Ltd.

Shri Abhishek Agarwal said that funds are Currently, 20% of all UPI transactions are Person moving to India and technical innovation also to Merchant (P2M) transactions. Scope for both happening in the country. Ensuring customer banks & FinTech to tap the merchant ecosystem for satisfaction and bringing in operational efficiency a quicker payments experience is huge. in the system are important. Dr. Sushmita Ruj stressed on Security and Shri Abhishek Rungta felt that transformation Privacy of Data and transactions. Data Encryption of people should happen before Digital and Anonymisation is crucial for any organisation, Transformation, even before Adoption or Innovation. precautions should be taken to store data with Evolution of digital technology is happening from proper security. Otherwise, there will be large Infrastructure to Application and then to Data and scale Data Breach. hence focus is shifting from Enterprise to Business Stressing on financial inclusion, Shri Pronab Functions and finally to Individuals. Chatterjee said thatwhole idea is to reach out to Shri Somak Sarkar said that Unified Payment the people, who are in remote locations, which is Interface (UPI) is the perfect example of what quite difficult. Challenges should be converted into happens when Fin-Tech collaborates with banks. opportunities. *********** SESSION ON ‘TRADE & BILATERAL RELATIONS BETWEEN INDIA & GERMANY’

on 24 June 2019 at Chamber premises

The Chamber organized a Session on ‘Trade & Dr. Michael Feiner, Consul General of Bilateral Relations Between India & Germany’ with Germany in Kolkata said that as India is the 24th Dr. Michael Feiner, Consul General of Germany largest trading partner of German, there is a lot in Kolkata and Ms. Bandana Pokhriyal, IAS, OSD, of scope for growth in trade between the two Department of Industry, Commerce & Enterprises, countries. Germany can be a huge market for Govt of West Bengal on 24 June 2019 at MCCI organic products from West Bengal and North Conference Hall. East. There is scope in logistics and IT also. There 28 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry is a big scope of increasing German investments been further strengthened with the inception of into West Bengal, as it is only 3~4% of total the Intergovernmental Consultations (IGC) in 2011. German investments in India. The number of India’s total trade with Germany increased from USD Indian students has recently tripled to 18,000 in 15 billion in 2007-08 to USD 21.98 billion in 2017- German and tertiary education is free in Germany. 18, reaching a peak in 2011-12 at USD 23 billion. Germany holds many trade fairs such as the one Germany is currently India’s largest trading partner in Hanover and Indian businessmen can consider in Europe and eighth largest trading partner overall, fairs as a good way for contacting German with total trade standing at USD 16.02 billion in customers. 2018-19 (April - Nov). India was ranked 26th in Ms. Bandana Pokhriyal, IAS, OSD, Department Germany’s global trade during 2017. Germany is of Industry, Commerce & Enterprises, Government the 7th largest foreign direct investor in India and of West Bengal said that the robust industrial Germany’s total FDI in India from April 2000 until infrastructure in West Bengal includes 200 June 2018 amounted to USD 10.99 billion. industrial parks in diverse sectors of the economy Mr. Nari Kalwani, Chairman, Indo-German and some promising sectors include energy (natural Chamber of Commerce (ERC) said that Germany gas), mines and logistics. The Dedicated Freight is a large market and Germans are willing to pay Corridors will make operations seamless in West higher prices for good products. German buyers Bengal. The artisans in the State do excellent work. are strict about quality and timeliness. She spoke on the growing partnership of Germany Mr. Mahesh Keyal, Chairman, Standing in BGBS. Committee on Foreign Trade, MCCI made a Mr. Vishal Jhajharia, President, MCCI in his presentation titled ‘India: The Emerging Investment welcome address earlier, said that India and Germany Destination for German Companies’. He also have a ‘Strategic Partnership’ since 2001, which has proposed Vote of Thanks for the Session.

*********** MCCI EAST INDIA ENERGY FORUM 2019 ‘The Evolving Energy Landscape’

on 26 June 2019 at Oberoi Grand, Kolkata

The Chamber organized MCCI East India Energy yy Shri Manoj Kumar Singh, General Manager Forum 2019 titled ‘The Evolving Energy Landscape’ (Mining), Coal India Limited (CIL) on 26 June 2019 at Oberoi Grand, Kolkata. Shri Debasish U. Banerjee, Managing Inaugural Session: ‘24 X 7 : Power For all – The Director, Distribution, CESC Limited said that Journey So Far’ growth in rapidly growing economies such as China and India is being fuelled by electricity. The Indian The Inaugural Session was addressed by : economy will shortly surpass the economy of UK yy Shri Debasish U. Banerjee, Managing Director, in size and it will grow from USD 2.7 trillion to 7 Distribution, CESC Limited trillion over the coming decade. India’s ranking in yy Shri Sanjeev Seth, CEO, India Power power has improved from 99 in 2015 to 24 in 2019. Corporation Limited Electricity consumption is growing at a CAGR of Annual Report 2019-20 29 Merchants’ Chamber of Commerce & Industry

6.2% per annum in India. The current consumption growth continues to drive electricity demand in of 1,204 units per person is expected to grow to India. The Government of India’s focus on attaining 4,500 units by 2040. Currently, there is no energy ‘Power for all’ has accelerated capacity addition deficit in India. Rural electrification is over 99%. in the country. Total installed capacity of power Utility companies have reduced AT&C losses from stations in India stood at 350.16 Gigawatt (GW) as of 22% to 19%. Utility companies are providing online February 2019. Between April 2000 and December services. The process of generation, transmission 2018, the industry attracted USD 14.18 billion in and distribution is no longer a conventional chain. Foreign Direct Investment (FDI), accounting for Smart Grids and Self Healing Grids are being used. 3.48 p.c. of total FDI inflows in India. He also spoke CESC is using Artificial Intelligence and machine about the Roadmap released by the Govt of India learning to predict faults and it is trying to launch to achieve 175 GW capacity in renewable energy an app for electricians. by 2022, which includes 100 GW of solar power and 60 GW of wind power. Shri Sanjeev Seth, CEO, India Power Corporation Limited (IPCL) said that India is on a The Inaugural Session ended with a Summing growth trajectory with the current peak demand at Up& Vote of Thanks by Shri Sanjib Kumar Patwari, 177,000 MW. Peak demand is increasing at CAGR Chairman, Standing Committee on Power & Renewable Energy, MCCI. of more than 6%. The per capita consumption of electricity in kWH is 665 units in West Bengal, Panel Discussion 1: ‘Coal Sector: Journey 2,279 in Gujarat and 2,028 units in Punjab. towards efficiency and competitiveness’ Infrastructure bottlenecks include 40,000 MW of The participants at the panel discussion were: power plants under stress, out of which 27,000 MW faces uncertain completion time. Consistent yy Address By Session Chairman: Shri V. K. supply of domestic coal is still a challenge for CIL. Arora, Chief Mentor, KCT Coal Sales Ltd. Furthermore, more than 10,000 MW of inefficient yy Shri Harsh Sachdev, Managing Director, S & T thermal power plants having age more than 25 Mining Company Pvt. Ltd. years are to be retired from 2015-20. yy Shri Amalesh Kumar , Director Mining, West Shri Manoj Kumar Singh, General Manager Bengal Power Development Corporation (Mining), Coal India Limited (CIL) said that stress Limited must be placed on last mile connectivity. Access to yy Shri R. P. Ritolia, Ex – CMD, Central Coal electricity was 43% in 2000, which has increased Fields & Advisor, IPCL to 99% in 2019. India, which is home to 18% of the world’s population uses only 6% of the world’s Shri V. K. Arora pointed out that 60~70% energy. CIL contributes to 84% of national coal of the thermal power assets are under stress. production and it aims to produce 1 billion MT of Investments to the tune of Rs. 1.5 lac crores have coal by 2025, which raises concerns about the gone into various projects of Independent Power environment. For its part, CIL has set targets to Producer (IPP), amounting to 50,000 MW, which improve its infrastructure for coal evacuation. have yet to be commissioned. In addition, nearly Rs. 3~5 lakh cr. invested in IPPs has turned into Earlier, in his Welcome Address Shri Vishal bad investments. Jhajharia, President, MCCI said that Indian power sector has undergone a significant change that has Shri Harsh Sachdev mentioned that Coking redefined the industry outlook. Sustained economic coal, a scarce resource, which is less than 11% of 30 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry total coal resource, needs to be treated separately Dr. Anindya Narayan Biswas observed that the from coal. Since there is excess wash plant capacity challenges for achieving the target of 175 GW from available in India, steel companies need to be given renewable energy need to be appreciated and they a right of first refusal. The coal sector needs to be cannot be overcome in one year. The Government of West Bengal will stick to its commitment to the opened up and run like any other Industry for it to Paris Convention. The regulatory aspects for solar prosper, he added. power need to be addressed and ways and means Shri Amalesh Kumar observed that despite have to be found for implementing solar schemes. huge reserves of coal, India is not able to supply Storage is an issue for solar and wind power, he coal to power plants due to its regulatory pointed out. structure. Under Rehabilitation & Resettlement Shri D. Bandyopadhyay pointed out that Policy, villagers are asking for employment from Domestic solar PV manufacturing needs a boost coal companies. The law and order situation is not for which enabling provisions are needed such good and the Government is helpless about how to as tax breaks, good research facilities as one has handle villagers who want jobs. to compete with products of other countries, low interest loans, arrangement of capacity building for Shri R. P. Ritolia discussed that thermal plays module makers, etc. a major role in power generation and although the percentage share of coal will fall from 49% to Shri Rajesh Kumar said that the targets before the renewable energy industry in India 40%, coal based thermal generation will increase in include 175 GW of power by 2022, Reduction of absolute terms. While CIL has raised its production 30~35% p.c. in emission intensity by 2030 than of coal, coal imports have increased at the same 2005 and 40% electricity from non fossil fuel by time. 2030. Renewable energy in India face challenges as the sources are located away from load centres Panel Discussion 2: ‘A 100% Renewable India: and so transmission is needed. Scope vs Challenges’ Shri Deepak Hansda said that under the The participants at the panel discussion were: Domestic Efficient Lighting Program (DELP), EESL yy Address By Session Chairman: Dr. Anindya has undertaken estimated replacement of 35.06 Narayan Biswas, IAS, Commissioner, crore incandescent bulbs (in the residential sector) Department of Power & Non Conventional and 89.15 lakh street lights over a three-year period. Energy Resources, Government of West Shri Rajib Kumar Das said that a lot of Bengal research is being done on stand by power, and a yy Shri D. Bandyopadhyay, WBCS (Exe), CEO, study states that it can use 8% of household power. The increasing renewable energy mix is a threat WBREDA to the grid. In order to benefit from the potential yy Shri Rajesh Kumar , Senior DGM (Smart Grid), of renewable energy, we need inter-connection of Power Grid Corporation of India Limited different grids. yy Shri Rajib Kumar Das, Deputy General Shri Suddhashatta Kundu, Senior Business Manager (Planning), CESC Limited Analyst, India Smart Grid Forum said that ISGF works with national and international agencies y y Shri Suddhashatta Kundu, Senior Business in standards development and helps utilities, Analyst, India Smart Grid Forum regulators and the Industry in technology selection, yy Shri Deepak Hansda, Deputy Manager (Tech), training and capacity building. Energy Efficiency Services Limited *********** Annual Report 2019-20 31 Merchants’ Chamber of Commerce & Industry

SYMPOSIUM ON THE UNION BUDGET 2019-20

on 6 July 2019 at MCCI Conference Hall

The Chamber organised a Symposium on grappling with crisis. Credit flow in the economy is the Union Budget 2019-20 on 6 July 2019 at a concern which may pose a threat to growth. Given the Conference Hall of the Chamber, which was the current macroeconomic situation, unclogging addressed by : of credit remains the biggest challenge to India’s yy Shri N. K. Poddar, eminent Tax Consultant & dream of becoming a $ 5 Trillion economy. Though Senior Advocate of the Supreme Court of India India is expected to take concrete strides towards becoming a big economy, the gap between India yy Prof Partha Ray, Distinguished Professor of and China will widen further. As per his analysis, Economics, I I M, Calcutta even if China’s GDP growth comes down from the yy Shri Amitav Kothari, leading Financial Analyst 9-10% rate level to around 5.5% , it will become a and Past President of MCCI $ 21 Trillion economy by 2024-’25. yy Prof. Kumarjit Mandal, Associate Professor, Prof Kumarjit Mandal said that private Dept. of Economics, University of Calcutta investment are flowing to Western India and not yy Shri Arun Kumar Agarwal, Chairman, Standing coming to West Bengal. Committee on Indirect Taxes & GST, MCCI. Shri Amitav Kothari expressed concern that While explaining the various provisions of as the Indian economy has become a high cost Direct Taxes in the Budget 2019-20, Shri N. K. economy, it will not be able to compete in the Poddar said that the TDS of 2 p.c. to be deducted for international market. There has been so much of cash withdrawal of Rs. 1 cr. and above is confusing talking about investment in social sector, but it is as TDS can be deducted only on income while to certain as to where the funds will come for the withdrawing cash cannot be treated as income. Government. Prof. Partha Ray, during his address, Shri Arun Kumar Agarwal referred to the commented that the Budget, though could lay down proposal of resolution on legal issues as proposed a few pro-growth measures, cannot be termed as a “big bang” one as it lacked vision. Rs. 70,000 in the Budget. He said that about Rs. 3.7 cr have crore has been allocated for Public Sector Banks’ been locked in and legal issues need to be resolved rejuvenation, banking sector is still reeling under at the earliest, to unlock those litigations. the pressures of NPAs and the NBFCs are still *********** 32 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

MCCI MULTI SECTORAL BUSINESS DELEGATION to Indonesia and Singapore

16~19 July 2019

MCCI mounted a 19-member multi-sectoral The Delegation visited Singapore on 18- Business Delegation to two countries, namely, 19 July 2019. On 18th they visited Singapore Indonesia & Singapore between 16th & 19th of July Chamber of Commerce & Industry (SCCI). Each 2019 in collaboration with the Indian Embassy delegate made a presentation of their companies in Indonesia and the Indian High Commission in before the members of SCCI. Mr. Zhou, President of Singapore with the objectives of exploring trade SCCI welcomed the delegates and explained how & investment possibilities between India and these two countries. The Delegation was led by both the Chambers can contribute in promotion Mr. Vishal Jhajharia, President, MCCI. of business network through a presentation. Mr. Vishal Jhajharia, President, MCCI thanked Mr. Zhou The Delegation first visited Jakarta, Indonesia and organised a Joint session in association with for organizing the business meet. Indonesian Chamber of Commerce & Industry Following introductory remarks by both (KADIN), which was attended by large number of the Presidents, they signed a Memorandum of KADIN members & Indonesian business captains besides representatives of Jakarta Chamber of Understanding for mutual cooperation which was Commerce & Industry. Keynote address was assisted by Ms Jyoti Sukhnani, Vice President, delivered by H.E. Mr. Pradeep Kumar Rawat, SCCI. Mr. Suresh Agarwal, Co-Chairman of MCCI Indian Ambassador to Indonesia who extended Standing Committee on Agriculture & Food all possible help in making the programme Processing proposed Vote of Thanks which was successful. Inaugural address was given by Ms followed by business networking. Shinta W. Kamdani, Chairwoman for International Cooperation, KADIN. Ms Dina Setiawati, Director, On the next day, the Delegates had a meeting Badan Koordinasi Penanaman Modal (BKPM) which at India House with H. E. Mr. Jawed Ashraf, High is the Investment Coordinating Board of Indonesia Commissioner of India in Singapore and discussed addressed the session and made a Powerpoint presentation. Welcome address was delivered by various issues pertaining to possible future roadmap Mr. Vishal Jhajharia. Mr. Mahesh Chandra Keyal, of India-Singapore trade & commerce. Vishal Chairman, MCCI Standing Committee on Foreign Jhajharia, President, MCCI highlighted the various Trade made a Powerpoint presentation on : India economic advantages of West Bengal and urged the Emerging Investment Destination & MCCI. A the High Commissioner to encourage Singaporean video Presentation on : Come to Bengal, Ride the companies to venture into Bengal. Growth was also presented at both the places during the business meets. ************** Annual Report 2019-20 33 Merchants’ Chamber of Commerce & Industry

INTERACTIVE SESSION ON ‘FIRE SAFETY AWARENESS & Business Sustainability’ with Shri Jag Mohan, IPS, Director General, West Bengal Fire & Emergency Services

on 2 August 2019 at MCCI premises

The Chamber organised an Interactive smoke management inside the building and others. Session on ‘Fire Safety Awareness & Business Earlier in his Welcome Address, Shri Vishal Sustainability’ with Shri Jag Mohan, IPS, Jhajharia, President, MCCI said that in India where Director General, West Bengal Fire & Emergency fire accidents stand at the 3rd position in the list Services on 2 August 2019 at MCCI premises. of biggest risks to business. Fire accidents have Shri Jag Mohan said that Fire safety measures increased in number over the years and lack of include fire suppression, fire prevention and fire proper legislative provisions has led to several detections. Sustainability of a business is ensured fire accidents in the country that have claimed a when the building is secure from incidence of fire. A building will not be regularized until fire issues substantial number of lives and caused damages have not been taken care of. He urged the owners to millions. One of the leading causes of fire is of such old buildings to change their wiring. He electrical short circuits. Government entities need to mentioned that West Bengal Fire & Emergency ensure that permissions granted are implemented Services has roles other than fire fighting, namely properly and no repairs or alterations to buildings issuing Fire Safety Recommendation, Issuance/ are conducted without the necessary approvals. Renewal of Fire Safety Certificate, fire audits and The Session ended with a hearty Vote of fire drills. The Department is adopting Ease of Thanks given by Shri Suresh Agarwal, Chairman, Doing Business measures in order to make life Standing Committee on CSR & Rural Development, easier for citizens and provide its permissions MCCI. faster. Fire Department stands by people when there is a crisis. Later, the officials from West Bengal Fire and Emergency Services gave a live demonstration on In his presentation, Shri Sujay Banerjee, Senior Instructor, West Bengal Fire & Emergency the use of different kinds of fire extinguishers in Services dwelt upon adequate escape/ exit routes in the drive way of the Chamber. a building, proper designing of escape/ exit routes, ************** 34 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

3RD WORKSHOP : ADVANCED EXCEL & POWERPOINT

on 3rd August 2019 at MCCI Conference Hall

The Chamber organized the 3rd Workshop on Features like Cell referencing, Conditional Advanced Excel & PowerPoint on 3 August 2019 Formatting, GoTo Special, Pivot Table, Pivot Screen at its premises. This Workshop generated huge shot, Pivot Dash Board and others. interest amongst members & select non–members. The speakers provided hands–on training to the The Session on PowerPoint was addressed participants, who had come with their laptops. by CA Vivek Agrawal, FCA, ACS, Partner, S K Agrawal & Co. He stressed on the flow of The Session on Advanced Excel was information in PowerPoint using the Process addressed by CA Sarita Agarwal, FCA, HoD, Overseas Department, Cloud Info solutions (P) Ltd. Diagram with Loops and different shapes, Pie- She focused on how to save hundreds of hours Chart Info graphics, Diamond Diagram & Circular using Excel, highlighting the features including : Motion Diagram, Different Process Diagrams Features of Advanced Excel, Data Analysis, Special with timer, Timeline Diagram & Alternating Flow Formulae, Sort, Filter, Advanced Filter, Transpose, Process Diagram and others. INTERACTIVE SESSION ON “Macro Economic Transformation & Business Opportunities in Bangladesh”with Chief Guest : Dr. Atiur Rahman, Former Governor, Bangladesh Bank & Professor, Dhaka University

on 17 August 2019 at MCCI Conference Hall

The Chamber organized an Interactive country by 2030. The country is looking forward Session on “Macro Economic Transformation to multiplying its bilateral business relations with & Business Opportunities in Bangladesh” with India, including more investment and technological Dr. Atiur Rahman, Former Governor, Bangladesh assistance. Dr. Rahman referred to the 3–pronged Bank & Professor, Dhaka University and new Development Paradigm of the country, i.e.: Mr. Toufique Hasan, Deputy High Commissioner, High-growth & yet inclusive, Respectful of heritage People’s Republic of Bangladesh in Kolkata on 17 & yet opportunistic in use of new technology and August 2019 at its Conference Hall. Self-dependent & yet collaborative. He pointed out that a perspective plan (2010-2021) and two five Addressing the members, Dr. Atiur Rahman year plans, 6th (2011-15) and 7th (2016-20) have charted out the salient features of the journey moved the nation from investment-driven and of Bangladesh from “Ashes to Prosperity”. He resource dependent framework to a broader socio- mentioned that Bangladesh is all set to leave economic transformation vision. The latest Delta the Less Developed Category (LDC) category by Plan 2100 provides a clear signal of long-term 2024 and to become an industrially developed national commitment for ecologically sustainable Annual Report 2019-20 35 Merchants’ Chamber of Commerce & Industry development. He also laid down the future Roadmap to USD 286.27 billion in nominal terms in 2018, including massive Growth needed in Digitization taking Bangladesh to the 41st position in the world and e-commerce, SMEs and related innovations, economy, from USD 6.2 billion in 1971, during the pivotal role of private sector and others. time of Liberation of the country. Indo–Bangla Mr. Toufique Hasan pointed out that bilateral ties reflect the potential opportunities in Bangladesh government has taken an initiative to areas such as joint high tech research, development introduce 100 SEZsthroughout the country. Although and innovation incubators, JVs on light, medium Indian cooperation is sought in all the 100 SEZs, and heavy industries, service sector cooperation it has offered three SEZs particularly for Indian in ICT, nanotechnology, robotics, cyber security, investors namely, Mongla, Bheramara & Mirsarai quantum computing, among others. with an investment of over USD 5 million USD. Earlier, in his Welcome Address, The Session ended with a hearty Vote of Mr. Vishal Jhajharia, President of the Chamber Thanks by Mr. Suresh Jhunjhunwala, Former spoke about the huge progress made by Bangladesh President of the Chamber. and mentioned that the GDP of Bangladesh grew ************

SPECIAL SESSION WITH SHRI RAMDAS ATHAWALE, Hon’ble Minister of State for Social Justice & Empowerment, Govt of India on ‘Social Justice & Empowerment in India : Progress made and Way Ahead’

on 20 August 2019 at MCCI Conference Hall

The Chamber organized a Special Session be politicalised by different parties for their vested with Shri Ramdas Athawale, Hon’ble Union interests. The Union Government led by Hon’ble Minister of State for Social Justice & Empowerment Prime Minister, Shri Narendra Modi, had taken on ‘Social Justice & Empowerment in India : extremely strong measures and even enacted a Progress made and Way Ahead’, on Tuesday, 20 special law to prevent and stop such social injustice August 2019 at its premises. to the poor and downtrodden. He mentioned Addressing the members, Shri Ramdas that serious steps had been taken to modify the Athawale stressed on the important role played Atrocity Act on Dalits, 1989 and make it stronger. by Industry by creating value and providing The Hon’ble MOS observed that it was unfortunate employment and felt that Government and Industry that in spite of many inter–caste marriages should work in partnership with each other. He and social engagements all across the country, strongly condemned the wide spread incidences of including West Bengal, the ill effects of casteism public lynching of Dalits and people belonging to could not be wiped out completely, he observed. minority section throughout the country. Ill effects He also referred to the dreams and principles of Dr. of Casteism are the root cause for such attacks. B R Ambedkar that casteism should be abolished These incidences should be controlled strongly and totally from the society and equality be restored. heavy penalty should be given to the offenders, he He also felt that no laws could stop lynching and recommended. The issue of public lynching is a attacks on Dalits. No legislation is sufficient for that, very serious and sensitive one, which should not the mind sets of the people should be changed. He 36 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

urged all, irrespective of their political colours, to belonging to Scheduled Caste, and enquired come forward to stop such a social evil. whether Ministry is monitoring the functioning of He referred to the steps taken by the the schemes and how many such entrepreneurs Union Government to ensure 50% reservations could be created. He also referred to the response for the backward people, as initiated by the Modi of state governments, particularly of West Bengal in implementing the Schemes. He enquired about a Government. While welcoming the comments made suitable scheme for the ageing population. He felt by Shri Mohan Bhagwat, RSS Chief in connection that since all qualifying companies are required with the steps taken by the Union Government, Shri to have a CSR Committee under Sec 135 of the Athawale felt that that there was no need to further Companies Act 2013 and also to spend at least review the decision of the Government. Reservation 2% of its average net profit for preceding three has been there for Scheduled caste /tribes and financial years on CSR activities, such companies Dalits and should be continued, he added. should have appropriate schemes for meeting CSR Earlier, in his Welcome Address, obligations and such donation schemes should be Shri Vishal Jhajharia, President of the Chamber exempted from Income Tax. referred to several schemes of the Ministry viz. The Session ended with a hearty Vote Credit Enhancement Guarantee Scheme and State of Thanks by Shri Suresh Agarwal, Chairman, Scheduled Caste Development Corporations for Standing Committee on CSR & Rural Development providing support to the budding entrepreneurs of the Chamber.

AWARENESS PROGRAMME : Taxpayers under GST

on 23 August 2019 at MCCI Conference Hall

The Chamber organized an ‘Awareness comoany on all India basis and not individually for Programme : Taxpayers under GST’ jointly each state. GST Audit is required to be nade by a with Central Goods Service Tax & Central qualified Chartered Accountant/ Cost Accountant. It Excise Department on 23 August 2019 at its shall include a reconciliation between the Audited premises. The Session was addressed by Financial statements and turnover declared in Shri Pandiyaraj G. V., Asst. Commissioner, CGST& Annual Return. CX Commissionerate along with other officers Shri Arun Kumar Agarwal said that of the Department. The Session was chaired by enablimng tax payers to claim input tax credit on Shri Vishal Jhajharia, President, MCCI. all inputs used for furtherance of business, forms Addressing the Session, Shri Pandiyaraj G. the backbone of a good GST Law. But the failure V pointed out that Annual Return (GSTR–9) is of the magical concept of matching of invoices like the finishing work done for a tax period. It is compounded problems, as there wsa no system a summary of transactions for the entire financial of controls to check input tax credit claimed. All year, a summary of all the monthly returns, which the taxpayer had to do was to fill in an amount in is to be filed by the tax payer. Every pwrson GSTR 3B and pay tax on net amount. Some sort of registered under GST must file the annual returns, a counter check is available in the form of GSTR barring a few exceptions. On GST Audit, he said that 2A, but till date, very few has been able to figure every registered person whose aggregate turnover out how entries appear in GSTR 2A. This should be exceeds RS 2 cr. Is subjected to mandatorily to GST addressed by the GST Council, he observed. Audit. The turnover limit has to be checked for the *********** Annual Report 2019-20 37 Merchants’ Chamber of Commerce & Industry

MCCI MUTUAL FUND FORUM 2019 : ‘Indian Mutual Fund Industry - Coming of Age

on 6 September 2019 at The Lalit Great Eastern, Kolkata’

The Chamber organised the MCCI Mutual Government’s focus on achieving a USD 5 trillion Fund Forum 2019 titled ‘Indian Mutual Fund economy, there will be tremendous scope for Industry - Coming of Age’ on 6 September 2019 at growth of the capital markets which means huge The Lalit Great Eastern, Kolkata investment opportunities for Mutual Funds.

Inaugural Session: ‘Vision 2025 for the Mutual Shri Ashutosh Bishnoi pointed out said that Fund Industry: Opportunities & Constraints’ India is a capital starved country with high savings rate, but low investment rate, physical assets The Inaugural Sessioin was addressed by : traditionally being 65~70% of household savings, yy Guest of Honour: Shri Balkrishna Kini, Dy. currently stands at around 50%. Land holdings CEO, Association of Mutual Funds in India below a certain size are not earning assets and (AMFI) may be considered to be ‘dead’ assets. yy Shri Ashutosh Bishnoi, MD & CEO, Mahindra Shri Prem Khatri said that the distributors of Asset Management Co. Pvt. Ltd. Mutual Funds must gain the confidence of investors, tap the needs and aspirations of investors, address yy Shri Prem Khatri, Founder & CEO, the concerns and anxieties of investors and learn CAFEMUTUAL to communicate better by listening 90% of the time. yy Shri Saugata Chatterjee, Co - Chief Shri Saugata Chatterjee observed that the Business Officer, Reliance Nippon Life Asset Mutual Fund industry in India has only captured Management Limited the tip of the iceberg keeping in mind that India has yy Shri S. K. Bagaria, Mentor, ASK CIRCLE 654 million youth, current and savings deposits of Rs. 110 lakh crores, 24 crore households and 400 Addressing the Forum as the Guest of million bank accounts. In comparison, the Mutual Honour, Shri Balkrishna Kini said that that the Fund industry in India is valued at only Rs. 24 lakh Indian Mutual Fund industry has continued to crores with two crore investors. rapidly grow despite events such as global financial crisis, demonetisation and recent credit events and Shri S K Bagaria noted that thechallenge market volatility. SIP contributions have rapidly is great due to the lack of a vibrant debt market. increased from Rs. 4,700 crores in June 2017 to In developed economies, the Government gives Rs. 8,300 crores in a recent month. The size of the social security, so investors can bear risk. In India, total AUM of the industry was about Rs. 24 lakh products should be simple, then people will shift crores in July 2019, of which about Rs. 7.6 lakh money from bank accounts to Mutual Funds. crores was in Income Funds, Rs. 7.2 lakh crores Complex products should be sold to those who are was in Equity Funds and Rs. 4.6 lakh crores was capable of carrying risk. in Liquid Funds. According to AMFI’s Vision, by Earlier, in his Welcome Address, Shri Vishal 2025, the investor base would increase to 5 crores Jhajharia, President, MCCI in his welcome address from 2 crores, registering a 2.5 times rise; With the said that the Mutual Fund industry is eyeing a 38 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

4-fold rise in Assets Under Management (AUM) to market is concerned and it is unknown which Rs. 100 lakh crore from existing Rs. 25 lakh crore Mutual Fund product will do well in the market. and increase in investor base to 10 crore from Shri Dinesh Pangtey said that in the last two current 2 crore over the next decade, according to a recent vision document released jointly by the or three years, LIC has been identifying insurance Association of Mutual Funds in India (AMFI) and the agents who can also sell Mutual Funds. It is hoped Boston Consulting Group (BCG). In India, with 44 that more LIC agents will distribute Mutual Funds Mutual Fund houses managing assets to the tune in the current year. of nearly Rs. 25 lakh crore, asset base of Mutual Shri Rajeev Thakkar said that SEBI has Funds as a percentage of GDP is just around 11%, come out with 36 categories of funds. Simple while the world average is 62%. Mutual Fund products or ‘dal roti’ products create Shri Smarajit Mitra, Co-Chairman, Standing penetration. The problem is that Mutual Funds are Committee on Banking & Finance,MCCI summed up not selling solutions at present, instead they are the Session and provided a hearty Vote of Thanks. selling products. Panel Discussion: ‘Innovations in Product & Smt. Lakshmi Iyer said that a relevant point Distribution: is that much of the world is going the e-commerce Role in shaping a future-ready Asset way. The digital revolution is experienced in many Management Industry’ spheres of life, including Mutual Fund sector. As The participants at the panel discussion were the fees of advisors are falling, advisors need to yy Moderator: Shri Smarajit Mitra, Co-Chairman, find innovative ways to grow their topline. Standing Committee on Banking & Finance, Shri Sanjay Dongre observed there are a MCCI large number of Mutual Fund products in the yy Shri Dinesh Pangtey, Whole Time Director market. It is difficult to find innovation in this market & CEO, LIC Mutual Fund Asset Management and the customer is confused. It is also difficult to Ltd. find innovation as Mutual Funds lack flexibility due yy Shri Rajeev Thakkar, CIO & Director, PPFAS to SEBI regulations. Asset Management Pvt. Ltd. Shri Ganesh Ram said that the issue is how yy Smt. Lakshmi Iyer, CIO-Fixed Income & Head- to reach out to investors in small towns. Also, there Products, Kotak Mahindra Asset Management is no proper training for financial advisors on the Co. Ltd. digital platform. About 60% of the total AUM in the yy Shri Sanjay Dongre, VP & Head-Operations, market comes from the top five AMCs. MF Utilities India Pvt. Ltd. Shri Vineet Nahata said that at present, credit yy Shri Ganesh Ram, Business Head, BSE risk is at its peak and several measures have been Mutual Fund thought out to alleviate the problems in the debt yy Shri Vineet Nahata, Director, Powergilt market. The current liquidity crunch is troubling the Treasuries Inc. market. Investors are scared and they do not want Shri Smarajit Mitrasaid that there is a huge to take on risk. untapped potential as far as distributors and the ************ Annual Report 2019-20 39 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘NEW GROWTH DIMENSION OF KOLKATA PORT – CHALLENGES & OPPORTUNITIES’ with Shri Vinit Kumar, Chairman, Kolkata Port Trust

on 18 September 2019 at MCCI Conference Hall

The Chamber organized a Special Session handled at Haldia Port, which is being increased to today on ‘New Growth Dimension of Kolkata Port – 1 million tonnes of container cargo per year. Kolkata Challenges & Opportunities’ with Shri Vinit Kumar, Port derives opportunities from being at the cusp Chairman, Kolkata Port Trust on 18 September 2019 of National Waterway 1 and National Waterway 2. at its premises. Goods can be transported from Kolkata to North Addressing the members, Shri Vinit Kumar East by using National Waterway 2 (through said that Kolkata Port is entering its 150th year in Bangladesh). October 2019. The Port handled 63.7 million tonnes Earlier, in his Welcome Address, of cargo in 2018-19, which is the highest volume Shri Vishal Jhajharia, President, MCCI said the of cargo that it has ever handled. Haldia handled Sagarmala Programme is the flagship programme its highest throughput of 45.2 million tonnes in of the Ministry of Shipping to promote port-led 2018-19. The volume of cargo is growing at 10% development in the country through harnessing annually. There are 12 ports in India and Kolkata India’s 7,500 km long coastline, 14,500 km of Port is ranked fifth as far as cargo handling is concerned. Draught is a challenge for Kolkata potentially navigable waterways and strategic Port, ships can only enter during tides. Efforts are location on key international maritime trade routes. being made to automate lock gate at Haldia. KoPT In West Bengal, 37 projects have been initiated is practicing trans-shipment of cargo as large at a cost of Rs. 31,654 crores, only 6 have been ships cannot enter the Port. KoPT will soon start completed. Efficiency at ports has an important trans-shipment of container cargo. For capacity bearing on the transaction cost. Major ports have augmentation, KoPT has added 45,000 sq. meters improved their efficiency of operation particularly of storage area. KOPT can store 12,000 containers in terms of turnaround time (TRT). The Average which is being increased to 16,000 containers and Turnaround Time for major ports improved from is also improving its evacuation capabilities, the 107.28 hours in 2011-12 to 59.93 hours upto Chairman mentioned. Currently, KoPT can handle December, 2018. But the turnaround time is 90.48 50% of a train load. It will soon be able to handle hours for Kolkata and 69.36 hours for Haldia. two train loads in its dock system. Usually, 30~35% of evacuation is by waterways. Smaller vessels are The Session ended with Vote of Thanks by able to go to Kidderpore Docks and containers are Shri Lavesh Poddar, Chairman, Logistics, Transport& being handled at Kidderpore Docks. Currently, 8.2 Warehousing Standing Committee. lakh tonnes of container cargo per year are being ************ 40 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

MCCI INDIA ECONOMIC FORUM 2019 “Powering India’s” $ 5 Trillion Growth Agenda’

on 20 September 2019 at The Taj Bengal, Kolkata

The Chamber organised MCCI India Economic are seriously affecting the business. Shri Pande Forum 2019 titled ‘Powering India’s $ 5 Trillion referred to 2 schemes to be launched by Consumer Growth Agenda’ on 20 September 2019 at The Taj Affairs, Self Help Group and Self Employment Bengal, Kolkata. Department, namely Jago and Mukti Dhara. He said that about 1.2 crore women have been brought Inaugural Session: ‘From the fastest growing under the self-help group which are generating Emerging Market Economy to a $ 5 Trillion huge income in the rural side as to achieve the Economy: Journey ahead for India’ growth of the economy. To achieve USD 5 trillion The Inaugural Session was addressed by : economy, we need to develop rural India which has yy Shri Sadhan Pande, Hon’ble Minister of majority of young population. India has super rich Consumer Affairs, Self Help Group and Self people who are getting richer and poor people who Employment, Government of West Bengal – are receiving doles from the Government. Middle Chief Guest class people are in a crisis and they do not know how to maintain their business. West Bengal is yy Shri Sunil Kanoria, Vice Chairman, SREI enjoying economic growth of 12% per annum. More Infrastructure Finance Ltd. and Past President blue collar jobs are needed as white collar jobs are MCCI not suitable for everyone. yy Dr. Nilanjan Ghosh, Director, Observer Shri Sunil Kanoria said that from 1998-99 Research Foundation, Kolkata onwards, over a 10-11 year period, the private sector yy Shri Samir Kant Jha, Senior Economist & invested a substantial amount in infrastructure AGM, Economic Research Department, State in India. Debt was used as capital to grow. India Bank of India is the most over-regulated country in the world. yy Dr. Pranab Kumar Das, Associate Professor Major institutional changes of the judiciary, are of Economics, Centre for Studies in Social required, which is currently choking business. India Sciences, Calcutta will become a USD 5 or 10 trillion economy in due course. How fast we get there depends on policy. Addressing the Forum as the Chief Guest, India has to change its mindset in order to grow. Shri Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group and Self Employment, Dr. Nilanjan Ghosh pointed out that in order Govt of West Bengal expressed concern over the to reach the USD 5 trillion mark, organic growth harassment of tax payers by the tax officials. He of the services sector is required. India has not also expressed his concern about the frequent stressed Sustainable Development Goals (SDG). changes in the GST rules and regulations which The costs of achieving a USD 5 trillion economy Annual Report 2019-20 41 Merchants’ Chamber of Commerce & Industry are social costs and environmental costs, which Committee on Banking & Finance, MCCIprovided a should be minimized. hearty Vote of Thanks.

Shri Samir Kant Jha observed that the current Panel Discussion 1: ‘Empowering the Young : emerging landscape is marked by deep structural Creating a job-led Knowledge Economy’ changes in the global economy and global changes The participants at the panel discussion were in technology. Global trade is sluggish and growth for 2020 is precarious. Over 60% of India’s export yy Moderator & Speaker: Dr. Subhrangshu basket showed decelerating growth last year. Sanyal, CEO, IIM Kolkata Innovation Park Lapses in corporate governance have strained the yy Prof. Ujjwal K Chowdhury, Pro Vice Chancellor, outlook for banks. While the NPAs of banks have Dean, School of Media, Communication & stabilised, the slowing economy can adversely Fashion, ADAMAS University impact the banking sector. yy Dr. J N Mukhopadhyay, Director, Department Dr. Pranab Kumar Das said that in order to of Management, J D Birla Institute achieve the USD 5 trillion mark India should use its demographic dividend. The country needs to yy Prof. Dipankar Dey, Principal, Kingston improve its rate of savings and the capital output School of Management & Science and ratio.India spends too little on education as a Visiting Professor, Department of Business percentage of GDP, which should improve. Management, Calcutta University Earlier in his welcome address, Shri Vishal yy Shri Manmohan Singh Chauhan, Regional Jhajharia, President, MCCI said that from 2014 Lead - Operations (East & NE Region), Tata to 2019, India became a USD 3 trillion economy. STRIVE Before that, in the last 70 years, the country Dr. Subhrangshu Sanyal said that in order was a $2 trillion economy. This means the Indian to achieve a USD 5 trillion economy, India needs economy needs to almost double its size in next double digit growth on a sustained basis. There five years or so, to realize the target of reaching must be a capability to generate employment and the USD 5 trillion mark. According to an Ernst & human capital is the most important factor.44% of Young Report, India will need to grow by 9% every Indian workforce is in agriculture which is about 15% year for 5 years continuously and raise aggregate of GDP. 75% of the population is in the unorganised investment rate to 38% of GDP to achieve the target. sector. India witnessed a dip in its real GDP growth in rupee terms during 2018-19, as the economy grew Prof. Ujjwal K Chowdhury observed that India by just 6.8% as compared to 7.2% in the previous has the 2ndlargest (500 million) and youngest fiscal. The slowing demand has not only affected workforce (under 25 years). 60% of near future the overall growth rate, it has also contributed to jobs will fall under analytics, design and artificial declining availability of jobs in an economy already intelligence. It is crucial to have industry integrated struggling with the spectre of jobless growth. education. Shri Smarajit Mitra, Co-Chairman, Standing Dr. J N Mukhopadhyay mentioned that the 42 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry about one crore youth will enter the workforce Shri Ajeya Bandyopadhyay observed that in India each year for many years to come. The Indian economy needs to grow at 11 p.c. per annum blue collar jobs should be respected. Industry and to get to USD 5 trillion. A big role will be played by academia can co-create courses. how strong infrastructure is in the country, which Prof. Dipankar Dey said that India has is not insulated from global headwinds. diverted its best brains to work in the USA / UK and hence to knowledge systems that are beyond Shri Supratim Sarkar pointed out that our control. In addition, the traditional knowledge India needs huge investment in infrastructure system has not been respected adequately. The annually,there is a need for greater role for private Indian way should be ‘bare foot managers who sector. It is unclear if banks can cope with the huge understand technology’. requirements of financing infrastructure. So, there Shri Manmohan Singh Chauhan mentioned is a need to churn investments. that the formal sector can train 1.75 million youth each year, but the number of youth entering the Shri Souren Mukhopadhyay mentioned workforce each year is much higher. India needs that NBFCs are reluctant to fund infrastructure to change its education system so that youth get projects as they rely on short term liabilities. On employed. India must help its youth to become self entrepreneurs so that they can create employment the other hand, the assets created in infrastructure opportunities. projects are long term in nature. So, NBFCs end up with Asset – Liability Mismatch when they fund Panel Discussion 2: ‘India’s Infrastructure Challenges & Steps for the new Government’ infrastructure projects.

The participants at the panel discussion were Shri Sudip Datta said that Investors are now yy Moderator: Shri Ajeya Bandyopadhyay, coming forward for PPP projects and they are Partner - Infrastructure, Govt & Healthcare better prepared. So, the PPP market has matured vertical, KPMG (India) and a few success stories will improve the mood. yy Shri Sudip Datta, Partner, Advisory-Govtt & Flexibility should be built into PPP contracts and a Public Sector, Pricewaterhouse Coopers Pvt framework needs to be worked out. Ltd Shri Ananyo Maitra said that infrastructure yy Shri Souren Mukhopadhyay, COO Advisory, SREI Infrastructure Finance Limited projects need smooth flow of funds throughout the economic cycle. Connectivity brings proximity yy Shri Supratim Sarkar, Executive VP and Group Head (PA & SF), SBI Capital Markets and India Myanmar Thailand Trilateral Highway is a counterweight to China’s Belt & Road Initiative. yy Shri Ananyo Maitra, Cluster Head, Kolkata, L & T Construction, Transportation Infrastructure **************** Annual Report 2019-20 43 Merchants’ Chamber of Commerce & Industry

MCCI DESTINATION HALDIA FORUM 2019 “Driving Growth : Taking the Leap Forward” [3rd initiative on Haldia]

On Tuesday, 24 September 2019 at Hotel Golden Retreat, Haldia

The Chamber organized the 3rd Seminar potential. He referred to the conduciveindustry on Haldia, “MCCI Destination Haldia Forum 2019” friendly atmosphere in Haldia where there are titled “Driving Growth : Taking the Leap Forward” no strikes and no man days lost. Private sector on 24 September 2019 at Hotel Golden Retreat, investments have given a boost to the economic Haldia. A part of the Outreach programmes of the development of the region.Haldia Development Chamber, with a mission to reach out to Tier II & Authority (HDA), Haldia Dock Complex and Haldia Tier III towns in the districts of the state, the Forum Refinery of IOC have been instrumental in growth was addressed by Shri Dibyendu Adhikari, Hon’ble of Haldia as an industrial and petrochemical hub. Member of Parliament as the Chief Guest and The Hon’ble MP invited the business community Shri Shyamal Kumar Adak, Hon’ble Chairman, to come forward for further investments to set up Haldia Municipality as the Guest of Honour. new units in and around Haldia. Priority should be given to MSME sector for its low capital intensity The Forum was also addressed by the and high potential for employment generation and following distinguished Speakers : exports, he felt. He felt that there is an urgent need yy Shri Samit Chatterjee, General Manager, of a burn unit in Haldia, for proper treatment of District Industries Centre, Purba Medinipur patients and victims of accidents. yy Shri Brij Behari, Executive Director, Indian Oil Referring to the local robust work culture, Corporation, Haldia Refinery Shri Shyamal Kumar Adak mentioned that Haldiais yy Shri A K Mahapatra, General Manager (Traffic) the best place to set up an industrial or cargo unit. I/C, Haldia Dock Complex He referred to the Single Window system introduced by Shri Suvendu Adhikari, whereby land is chosen yy Shri Ananta Charan Mishra, Exec. Vice and other formalities processed for getting fast President– Operations & Plant Head, MCPI clearances.He requested the industrialists and Pvt. Ltd. traders to set up their units in Haldia and assured yy Shri Gautam Malik, CEO, Shristi Infrastructure full support and cooperation to them.He requested Development Corporation Ltd. the President of the Chamber to open a branch of yy Shri Ananda Gopal Maity, President, MCCI in Haldia to provide a platform for business Confederation of Purba & Paschim Medinipur community. District Chamber of Commerce & Industries Referring to the initiatives taken by the State Addressing the Forum as the Chief Guest, Government to address issues at grassroot level, Shri Dibyendu Adhikari spoke about the huge growth Shri Samit Chatterjee spoke about the monthly potential of Haldia. The district of Purba Medinipur video conferences with all the districts authorities. has huge potential in the areas of handloom, On West Bengal MSE Facilitation Council to address agriculture, floriculture & horticulture. There are the problem of delayed payments faced by the huge investment opportunities for this untapped industries, he said that the state has secured 3rd 44 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry position after Tamil Nadu and Uttar Pradesh in and sewage condition should be looked after well, terms number of cases resolved. Since 2011, Rs. 84 for handling oil & oil products. He also stressed cr. has been settled amicably and 102 cases solved. on setting up of a yearly disaster drill, to handle Since 2018, Rs. 44 cr. has been settled, which has offsite disaster. been the highest figure in the country, he noted. Shri Gautam Malik was of the opinion that He urged all to approach the Facilitation Council for in spite of having all the ingredients of growth, delayed payments. Haldia has not taken off to that extent.Haldia is a Shri Brij Behari extended compliments to port city with large industries, skilled work force MCCI for this unique effort and initiative to foster and robust education system, and can grow as the growth while bringing all the stakeholders together financial hub for entire state and eastern India.He to create positive synergy. Haldia has evolved as a felt that an airport and high speed trains would be major industrial and petrochemical hub under the needed for rapid connectivity, as also some world able guidance of Shri Suvendu Adhikari and Shri class entertainment for weekends to attract foreign Dibyendu Adhikari to create further benchmark. buyers. He felt that new products should evolve and and Shri Ananda Gopal Maity spoke on the rich new technologies harnessed.While charting out the history of this region and stressed on development future roadmap, the Executive Director of IOC Haldia of infrastructure, agriculture and industry said that IOC has evolved as an energy company, simultaneously.He said that this region is blessed it is no longer a standalone only–oil company, also with a large digitally literate middle class, which pursuing the gas sector. IOC Haldia is fully focused should be leveraged.In this huge growth story of on the requirements of the industry, catering to Haldia, the need of the hour would be to join hands the needs of the people, following best practices together with all the stakeholders involving the to create global benchmarks. districts, for further development. Shri A K Mahapatra said that Haldia Dock Earlier, in his Welcome Address, Complex (HDC) has one of the longest channels in Shri Vishal Jhajharia, President of the Chamber said the country. Growth of HDC has been the highest Haldia has all that it takes to emerge as an engine among all the major ports in India, which has of growth and a world class economic hub. Haldia experienced a growth of 18.62% in total volume Industial Complex came into existence through in 2018. 14 jetties and 6 vessels were operational rigorous and efficient industrial planning, and has in HDC, as also the Floating Jetty, which was now emerged as an important & coveted industrial commissioned in March 2018. He referred to an destination not only in West Bengal but also in Agreement with Hooghly Oil & Gas Terminal Pvt the whole of eastern India. The commissioning Ltd on a PPP basis at an investment of 172.51 crore, of Haldia Dock, the setting up of refinery by for a liquid cargo handling terminal at Shalukhali in Indian Oil Corporation, the petrochemical industry Haldia, 130 km from Haldia. propelled by Haldia Petrochemicals Ltd., have Shri Ananta Charan Mishra observed that all led to economic development of the region. Haldia is the coastal gateway to the North East, This has brought in significant investments in Bihar, Jharkhand and other states. There is a the downstream industries, generating huge demand, and the point is how best the demand employment opportunities in the state. can be captured and utilized. He stressed on the The Forum generated huge interest amongst availability of skilled and peaceful work force, the local business community and entrepreneurs. which is the mainstay of the region, days of labour The Forum ended with a hearty Vote of Thanks by unrestare gone. Road condition, parking condition Shri Souvik Banerjee,DG, MCCI. ****************** Annual Report 2019-20 45 Merchants’ Chamber of Commerce & Industry

MCCI EDUCATION FORUM 2019 ‘Indian Higher Education: Bridging the Skill Gap’

on 6 November 2019 at Hotel Hindusthan International, Kolkata

The Chamber organized MCCI Education as also on proper ethical training. College students Forum 2019 titled ‘Indian Higher Education: Bridging lack the analytical skills with which they can the Skill Gap’ with Shri Jagdeep Dhankhar, Hon’ble bring laurels to the nation. Innovation in higher Governor of West Bengal as the Chief Guest on 6 education should be used to create wealth.With November 2019 at HHI. digital conversion, even a common man can be empowered with a lot power by using technology. Opening Session: ‘Higher Education: Bridging the Skill Gap’ Prof. (Dr.) J. N. Mukhopadhyaya stressed on the need to shift from job seekers to The speakers at the Opening Session were entrepreneurs. There has been a paradigm shift yy Speaker & Moderator:Prof. (Dr.) Suman Kumar to Artificial Intelligence and machine learning. Mukerjee,Director General, The Bhawanipur With advancement in technology, even blue chip Education Society College companies are becomimg obsolete. There is a huge yy Prof. (Dr.) Prasanta Kumar Das, Dean, demand for skilled workers which is unfulfilled. Postgraduate Studies & Research and Smt. Seema Sapru said that educators must Professor, Department of Mechanical create an inclusive society, where emphasis should Engineering, IIT Kharagpur be on active listening, effective communication, yy Prof. (Dr.) J. N. Mukhopadhyaya, Director, conflict resolution, taking instructions. She also Department of Management, J D Birla focused on the need to stop plagiarism and Institute inculcate sense of discipline amongst children. yy Smt. Seema Sapru, Principal, The Heritage Mr. John Rafi pointed out that biggest School, Kolkata problems in the country are growing unemployment and skills gap. A huge disparity exists between yy Mr. John Rafi, Principal, La Martiniere for the required skill set and the skill set available. Boys, Kolkata According to the latest India Skill Report (2019), only yy Prof. Dipankar Dey, Visiting Professor, 45.6% of the youth graduating from educational Management Department, Calcutta University institutions are employable. The country has 260 Prof. (Dr.) Suman Kumar Mukerjee said the million under-employed or unemployed people in purpose of education is to produce a good human the age group of 18 to 50 years. Only 2% of the being. Education should lead to acquisition of skills, youth in the age group 18 to 29 years receive so that students become employable. People of formal vocational training. Indian origin getting the Nobel Prize but not Indians, Prof. Dipankar Dey said that India has not that many inventions have taken place in India. developed a dual society. India should bridge the Prof. (Dr.) Prasanta Kumar Das stressed on gap between the ‘karigar’ economy and the ‘indigo the need to sensitise students against plagiarism, economy’. India should adopt ‘bare feet managers’. 46 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

The habit of asking questions should be inculcated, Indian Universities should not only follow but they so that problemsolving skills are developed. should also lead in global standards of excellence. She dwelt upon important issues like building critical Special Session: ‘Education in India: Way Ahead’ thinking capabilities, Inclusiveness and diversity, The participants at the Special Session were concept of collaboration and accountability of yy Shri Jagdeep Dhankhar, Hon’ble Governor of education institutions which leads to issues such as West Bengal – Chief Guest creation of jobs, encouragement of ethical thinking. yy Rev. Dr. J. Felix Raj, S.J., Vice Chancellor, St. Prof. (Dr.) Chiranjib Bhattacharjee, said that Xavier’s University, Kolkata education is important for economic development. yy Prof. Anju Seth, Director, IIM Calcutta The Government of India’s Atal Tinkering Labs in schools was a novel idea. He spoke about yy Prof. (Dr.) Chiranjib Bhattacharjee, Pro Vice the initiatives of Govt of India to raise the Gross Chancellor, Jadavpur University Enrolment Ratio to about 30%, and also of certain Addressing the Session as the Chief Guest, initiatives of Jadavpur University under Rashtriya Shri Jagdeep Dhankhar, Hon’ble Governor of West Uchchatar Shiksha Abhiyan (RUSA), Pradhan Mantri Bengal said that reputed educational institutions Kaushal Vikas Yojana and Idea Incubation Centre. like Calcutta University, Jadavpur University and IIM Calcutta should be complimented for their Earlier in his Welcome Address, contribution to the society and recognition that Shri Vishal Jhajharia, President, MCCI said that they have earned from multiple sources. The India’s higher education sector has supplied role of Government is to improve the education some of the world’s best talent including Nobel environment in campuses. All the stakeholders laureates. The CEOs of some of the biggest Fortune must come forward to make the system better. He 500 companies like Microsoft, Google, MasterCard assured his support towards catalyzing the reforms and Adobe are the products of the Indian higher and changes in education sector. education system. The higher education landscape Rev. Dr. J. Felix Raj observed that India has has expanded over the past decade, from 436 undertaken massive structural changes in education. universities in 2009–10 to 993 Universities, 39,931 By 2030, India will have the largest population in Colleges and 10,725 Stand Alone Institutions as per the world and can become a global supplier of All India Higher Education Survey 2018-19. Student skilled labour. The Indian education system needs enrolment, is the third-largest in the world, next to radical reforms. Currently, there is a lack of linkage China and the United States. However, the factors between primary education and higher education. like low-quality education in most of the colleges, There is no Indian University among the top 100 out-dated syllabi, lack of adequate faculty members, universities of the world. Four important areas to discipline in college campuses, excessive political consider are expansion of infrastructure, equity and bureaucratic interference are encouraging the by reducing gender bias, excellence in teaching, learning and employability. huge exodus of students from West Bengal for better education. Prof. Anju Seth, Director, IIM Calcutta spoke about the important elements of the Vision 2030. The Session ended with Vote of Thanks by The critical issue is how to develop excellence in Shri Simarpreet Singh, Director, JIS Group. Universities in the global context. In this regard, ****************** Annual Report 2019-20 47 Merchants’ Chamber of Commerce & Industry

INTERACTIVE SESSION ON ‘INDIA POST: The Road Ahead’ with Shri Gautam Bhattacharya, Chief Postmaster General, West Bengal Circle

on 14 November 2019 at MCCI The Chamber organized an Interactive Savings Bank primarily aims at savings whereas Session on ‘India Post: The Road Ahead’ with India Post Payments Bank (IPPB) primarily focuses Shri Gautam Bhattacharya, Chief Postmaster on encouraging digital payments and remittance. General, West Bengal Circle, on 14 November Earlier in his welcome address, 2019 at its premises. Addressing the Session, Shri Shri Vishal Jhajharia, President, MCCI said that the Bhattacharya said that India Post, an organization of Department of Posts has been the backbone of the 181,477 employees, has about 155,000 Post Offices, India’s communication and it has played a crucial 89% of which are in rural areas. As on 31 March role in the country’s social economic development. 2018, India Post had 37.12 crore Post Office Savings IPPB has recently announced the rollout of Accounts with a total balance of Rs. 5,97,295 crores. Aadhaar Enabled Payment Services (AEPS). The In 2017-18, India Post handled 375.96 crore letters, AEPS will give a strong boost in expanding access about one crore letters per day and 16.08 crore to financial services for millions of unbanked and parcels. 60% of India Post’s total revenue comes from Post Office Savings Schemes. India Post under-banked customers. charges for its services but its tariffs are heavily Shri Smarajit Mitra, Co-Chairman, Standing subsidized based on the social and educational Committee on Banking & Finance, MCCI offered priorities of the Government. While Post Office Vote of Thanks. ****************** MCCI BENGAL AGRI-FOOD & ALLIED EXPORTERS’ FORUM 2019

on 15 November 2019 at Hotel Lalit Great Eastern, Kolkata

The Chamber organized MCCI Bengal yy Dr. S.K. Verma, Dy Director (Ento), Regional Agri-Food & Allied Exporters’ Forum 2019 on Plant Quarantine Station, Ministry of 15November 2019 at Hotel Lalit Great Eastern, Agriculture & Farmers Welfare, Govt. of India Kolkata. The Forum was addressed by Shri Rajesh yy Shri Archiman Lahiri, Deputy Director, Kumar Sinha, IAS, Secretary, Department of The Marine Products Export Development Agricultural Marketing & Agriculture, Govt. of West Bengal as Chief Guest. The following distinguished Authority Speakers addressed the Forum: yy Shri R. K. Mondal, DGM, Agricultural yy Shri A. K. Das, Joint Secretary, Department of &Processed Food Products Export Agricultural Marketing, Govt. of West Bengal Development Authority yy Dr. D. D. Patra, Vice-Chancellor, Bidhan yy Shri Ankush Saha, Joint Secretary, West Chandra Krishi Viswavidyalaya (BCKV) Bengal Fruits & Vegetables Exporters’ yy Shri Amarendra Narayan, Additional Welfare Association Commissioner, Kolkata Customs Zone The Forum was also attended by 48 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Prasenjit Hans, Special Secretary, Department Shri Archiman Lahiri mentioned that there has of Agriculture, Govt. of West Bengal. been a 12% growth of value added marine products Addressing the Forum, Shri Rajesh Kumar in 2018–19 over 2017–18. West Bengal exports 12% Sinha, IAS, Secretary, Department of Agricultural of India marine exports and 87% of Shri mps are Marketing & Agriculture, Govt. of West Bengal said from West Bengal, mostly from the districts of that the state has to increase its agri exports, both Purba Medinipur and North & South 24 Parganas. in volume and speed. Focus should be changed West Bengal is the only state, in which production from subsistence production to production for of organic black tiger prawn is registered to enter exports. The state has over 50 lakh metric tonnes into the export market. of potatoes in surplus, which could be exported. Shri R. K. Mondal suggested that in order to Acceptability of a product is also very important, promote exports, it is important to work with Farmer he noted. Contract farming should be promoted Producer Companies; some sort of consortium and farmers should be oriented into a different direction. Farmer–Producer Groups have a huge needs to be created with the 400 Farmer Producer role to play in this. There are around 400 such Companies to grow exportable quality of fruits and Farmer Producer Groups in the state. He urged vegetables, particularly that of Ladies Finger, betel on reducing waste, which is often as high as 30%. leaves, green chilly, Gobindo Bhog rice and others. He mentioned about the importance of having There should be area specific cluster approach. logistic hubs, temperature controlled warehouses, Shri Ankush Saha spoke about the challenges availability of vans carrying harvest and others. faced by the exporters in general. He said that Shri A. K. Das, Joint Secretary, Department of in spite of high demand for export products and Agricultural Marketing, Government of West Bengal huge potential in this sector, lack of coordination spoke about 30% transport subsidy for both export between the different stakeholders often affects and domestic sale of potato. the exporters in an adverse manner. Dr. D. D. Patra pointed out that India is Earlier in his Welcome Address, one of the 12 major biological centres in the Shri Vishal Jhajharia, President, MCCI said that world, in which all the agro climatic zones are the Union Government approved India’s first ever present.Importance should be given to alternate/ Agriculture Export Policy, 2018 in last December, diversified cropping system and use of technology it is without any doubt that exports of agricultural to enhance cropping intensity. Cropping intensity products would play a pivotal role in achieving this can be increased by 180% in West Bengal. Location goal. The broad objectives of the Policy include : specific appropriate technology is important, which doubling agricultural exports from present US$ should be popularized. 30+ Billion to US$ 60+ Billion by 2022 and reach Shri Amarendra Narayan referred to the US$ 100 Billion in the next few years, he noted. single window system of the Department for proper Bengal has huge potential in the Agri-business and online functioning and assured help and support agri-exports sectors and the multiplier effects can to the exporters. He advised the exporters to avail go a long way in transforming the socio-economic Authorised Economic Operator (AEO) for advantages like reduction of bank guarantee, a window of 15 landscape of the State. days, deferred payments for cargo and others. The Session ended with a hearty Vote of Dr. S. K. Verma pointed out that consignment Thanks by Shri Suresh Agarwal, Co-Chairman of food to other countries should be free of pests. of Standing Committee on Agriculture & Food Post surveillance, if the products are 95% free from Processing, MCCI insects, they are fit for exports to UK. ************** Annual Report 2019-20 49 Merchants’ Chamber of Commerce & Industry

2ND WORKSHOP ON “PROTECTION AGAINST CYBER CRIME : How to Secure Applications, Network & Data”

on 16 November 2019 at MCCI Conference Hall

The Chamber organized the 2nd Workshop should be segregated, as it is important to have on“Protection Against Cyber Crime : How to Secure physically separate VLANs and different LAN for

Applications, Network & Data” on 16 November, different departments, particularly for Finance.

2019 at its premises. The Workshop was attended In certain cases, where patch management is a by representatives of the member–firms of the problem, segregation of LAN is the only solution.

Chamber and select non–members. He pointed out that the biggest problem in Artificial

Intelligence is Data Poisoning i.e. sending wrong Addressing the Workshop, Shri Sandeep data. Shri Sengupta observed that the MSME Sengupta, Cyber Audit Expert & CEO, Indian School sector is the worst hit by cyber crime, the threat list of Anti Hacking (ISOAH) Data Securities Pvt. Ltd. consisting of clients & customers, vendors and past said that Cyber Security actually involves all the employees. There should be a proper exit policy for verticals in a business organization like Admin, all employees and the Asset Return Form should HR, Accounts, Marketing, Legal etc., in which each include Laptop and other devices, Biometric and and every department has a huge role to play. He should involve changing all the passwords, blocking said that health check of a particular organization access to information to the former employees. He would depend upon Identification, Assessment urged not to share the mail/ wifi password/ PIN to and Mitigation of Risks. There should be different anybody and advised all to change the same on a sets of people for risk identification and risk regular basis, once in 30 days. mitigating. He advised ISO 27001 for all for Risk

Identification, in which there are 114 controls. He The Closing Remarks and Vote of Thanks mentioned about certain ransomware which are were delivered by Shri Sanjib Sanghi, Co Chairman, not detected by any anti–virus. Multiple backups Standing Committee on IT & Communication of the should be taken regularly. Priority should be given Chamber. to patch management. To stop ransomeware, LAN *************** 50 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘DOING BUSINESS WITH KAZAKHSTAN’ with H. E. Mr. Yerlan Alimbayev, Ambassador Extraordinary & Plenipotentiary of Republic of Kazakhstan in India

on 18 November 2019 at Chamber

The Chamber organized a Special Session such as PwC, developed 77 investment proposals in on Doing Business with Kazakhstan with various priority sectors.Kazakhstan provides rule of H. E. Mr. Yerlan Alimbayev, Ambassador law and protection for investor’s rights. Kazakhstan Extraordinary & Plenipotentiary of Republic of has 13 Special Economic Zones providing fiscal and Kazakhstan in India on 18 November 2019 at its non-fiscal incentives and 24 Industrial Zones. premises. Addressing the members, Mr. Alimbayev said that trade between the two countries had Earlier in his Welcome Address, reached USD 1 billion in the first eight months of Mr. Vishal Jhajharia, President, MCCI said that as this year. The expected trade turnover is USD 1.5 per statistics of Kazakhstan for 2017, total bilateral billion for the current year. The target is to reach trade between India and Kazakhstan amounted USD 5 billion in annual bilateral trade.Kazakhstan to USD 981.8 million, out of which exports from is a large supplier of uranium, which has supplied Kazakhstan was to the tune of USD 757.14 9,000 MT of uranium to India till date. Going forward, million, and exports from India was USD 224.66 it will supply 1,000 MT of uranium per year to India. million. Trade turnover between the two countries The railway connection is coming up at Chabahar amounted to USD 1.2 billion at the end of 2018, Port in Iran. Once Chabahar Port is connected by showing a 26.5 p.c. increase compared to a year railway, the required travel time between the two earlier.India-Kazakhstan economic relationship countries will fall from 35 days to 12 days under the Kazakhstan–Turkmenistan–Iran–India route. is significantly influenced by energy resources. New Delhi and Almaty are connected by two daily India is not just an important oil importer but flights. Mumbai to Almaty will be a new route. In the proposed TAPI pipeline – The Turkmenistan– 2018, 1 lakh tourists visited Kazakhstan from India Afghanistan–Pakistan–India Pipeline (TAPI), also of whom 8,000 were transit passengers. The non known as Trans-Afghanistan Pipeline may also visa period for Indians going to Kazakhstan is boost the import of natural gas by India from being increased from 72 hours to 120 hours by Kazakhstan. The proposed North-South Transport the Government of Kazakhstan. Kolkata has the Corridor, an important cross-border connectivity potential to serve as Kazakhstan’s main trading project comprising Kazakhstan-Turkmenistan-Iran- centre in India via Chinese sea ports. India, can significantly enhance India’s trade & Ms. Aigul Nuralina, Regional Director to economic engagement with Eurasia in general and India, Kazakh Invest National Company gave a Kazakhstan in particular. PowerPoint presentation on the Kazakh economy. The Session ended with a hearty Vote of Kazakh Invest National Company has put into operation 27 projects worth USD 3.1 billion. It has Thanks given by Mr. Sanjib Kumar Kothari, Co- moved to the construction stage 22 projects worth Chairman, Standing Committee on Foreign Trade, USD 4.2 billion. Kazakh Invest National Company MCCI. in collaboration with international consulting firms, *************** Annual Report 2019-20 51 Merchants’ Chamber of Commerce & Industry

“VIETNAM’S TRADE - INVESTMENT - TOURISM PROMOTION FORUM”

on Friday, 22 November 2019 at Lalit Great Eastern

The Chamber in partnership with Embassy of an important component. Vietnam organised “Vietnam’s Trade - Investment Mr. Nguyen Quoc Duan, Director, Song Nam - Tourism Promotion Forum” on 22 November International Trade Development Company said that 2019 at Lalit Great Eastern, Kolkata with H. E. Mr. dragon fruit is a healthy fruit which can rejuvenate, Pham Sanh Chau, Ambassador of Vietnam in India fight cancer and combat dengue. Dragon fruit can as the Chief Guest. This event was the 34th out of be grown the whole year and it is the cheapest 38 events in eight states of India organized by the Embassy of Vietnam. imported fruit in India.. H. E. Mr. Pham Sanh Chau, Ambassador of Earlier, Mr. Vishal Jhajharia, President, MCCI Vietnam in India mentioned that the economy of in his welcome address said that India is now Vietnam has been growing at about 7% per annum among the top ten trading partners of Vietnam. in the last two decades. The poverty rate has fallen Vietnam is the 8th largest destination of India’s from 60% to 5% in 2019. Vietnam with a GDP of exports globally. Leaders of both countries have about USD 250 billion has foreign exchange set a trade target of USD 15 billion by 2020. The reserves of about USD 80 billion and an inflation trade target of USD 15 billion by 2020 is achievable rate of about 4.3%. The country is a part of 14 FTAs if both the sides put a little extra effort. Bilateral and it supports liberalization of the economy. India trade turnover registered a record annual growth and Kolkata are held in high esteem in Vietnam for of 12.81% and touched USD 13.93 billion in 2018. the support they gave to its people during the War. Mr. Atul Churiwal, Past President, MCCI and The Ambassador highlighted the various economic Hony. Consul Candidate of Vietnam in Kolkata said opportunities that exist between India and Vietnam that although the two countries share ties that across sectors including Agro & Food Processing, are 2,000 years old, their relationship received a Healthcare, Real Estate, Banking & Financial new momentum when they started liberalizing Services, etc. Vietnam has today emerged as a very their economies in the 1980s and 1990s. India and popular destination for Indian weddings. Vietnam relationship encompasses economics, Mr. Vu Quoc Huy, Deputy Director General, culture, defence and politics.India is among the top Ministry of Planning & Investment of Vietnam said 10 trading partners of Vietnam. Among other items, that the reasons for investing in Vietnam include India imports mobile phones, computers, chemicals the following: stable politics, stable economic and rubber from Vietnam. The two nations growth, competitive production cost, strong human cooperate in the pharma sector. The mechanical resources, potential market, globally integrated engineering industry of Vietnam meets only 32 p.c. economy, incentives and strategic location. of the country’s needs and the balance is imported Mr. Nguyen Hoai Nam, Deputy Secretary- from China, Japan and others. General, Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam would There was also a Session on travel and like to cooperate with India in the seafood sector. tourism in Vietnam. The Session ended with a The fisheries sector is a key national economic Vote of Thanks by Mr. Mahesh Keyal, Chairman, sector in Vietnam. 5~8% of the total export turnover Standing Committee on Foreign Trade, MCCI. of Vietnam comprises of seafood and Shri mps are **************** 52 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

WORKSHOP ON ‘The Insolvency Resolution & Bankruptcy for Individuals & Partnership Firms’

on 27 November 2019 at MCCI MCCI organised a Workshop on ‘The Member of NCLT, Kolkata Bench said that IBC is a Insolvency Resolution & Bankruptcy for Individuals game changer and it has brought a lot of discipline & Partnership Firms’ with Shri M. B. Gosavi, in financial dealings. Late justice is like justice Hon’ble Judicial Member of NCLT, Kolkata Bench, denied and steps are being taken in the Benches Shri Harish Chander Suri, Hon’ble Technical to see that company law matters are heard on a Member of NCLT, Kolkata Bench and consistent basis. Smt. Ujjaini Chatterjee at the Conference Hall of the The Workshop was chaired by Chamber on 27 November 2019. Smt. Mamta Binani, Chairperson, Standing Shri M. B. Gosavi, Hon’ble Judicial Member of Committee on Corporate Law & Governance, MCCI. NCLT, Kolkata Bench said that the Insolvency and She explained that on 1st December 2019, a new Bankruptcy Code (IBC) is a new law and it takes era is coming into play, as Part III of the Insolvency time for any law to settle. This law will also go & Bankruptcy Code 2016 is coming into action, through its own share of trials and tribulations. which will deal with ‘Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms’. Shri Harish Chander Suri, Hon’ble Technical ********************* INDO-GERMAN BUSINESS ROUND TABLE

on Friday, 29 November 2019 at Chamber

MCCI organised ‘Indo-German Business Inspite of cultural and other differences, India and Round Table’ with Ms. Srita Heide, Founder/ Germany can work together on many areas. CEO, Srita Heide International and Member of the German Delegation to India and Mr. Marcus Heide, Mr. Sanjib Kumar Kothari, Co-Chairman, Managing Consultant, Srita Heide International on Standing Committee on Foreign Trade, MCCIin his Friday, 29 November 2019 at its premises. welcome address earlier, said that Germany is Ms. Srita Heide said that vocational training India’s most important trading partner in the EU and can be brought from Germany to India as Germany its 6th most important trading partner worldwide. excels in providing vocational education to youth. Bilateral trade between the two countries rose to When an Indian company starts operations in USD 24.06 billion in 2018-19 fiscal year ending Germany, it has to follow EU rules and regulations in March from USD 22 billion the previous year. and it automatically gains access to other markets German FDI in India in 2016 was to the tune of of the EU on account of free trade. She invited USD 1.1 billion. Indian MSMEs to open up offics in Germany. The SME segment is large in Germany, she noted. The Session ended with a hearty Vote of Mr. Marcus Heide explained that many trans- Thanks given by Mr. Tushar Basu, Chairman, national businesses fail in the SME segment due Standing Committee on HRD, MCCI. to cultural differences. So, soft skills are important. **************** Annual Report 2019-20 53 Merchants’ Chamber of Commerce & Industry

MCCI INSURANCE FORUM 2019 ‘Indian Insurance Industry: Navigating the Changing Landscape’

on 18 December 2019 at Hotel Hindusthan International, Kolkata The Chamber organized MCCI Insurance Forum uninsured for minimum health cover. 2019 titled ‘Indian Insurance Industry: Navigating Addressing the Forum as the Chief Guest, the Changing Landscape’ on 18 December 2019 at Shri K. Ganesh, Member (Life), Insurance Regulatory Hotel Lalit Great Eastern, Kolkata. and Development Authority of India (IRDAI) said Opening Session: ‘Changing Face of Indian that although both penetration level and insurance Insurance Industry’ density have increased in the country, there The speakers at the Opening Session were still exists a huge protection gap that needs to be bridged. As of March 2019, there were 930 yy Conference Chairperson: Smt. Tajinder products on life insurance with 33 crore policy Mukherjee, CMD, National Insurance Co. Ltd. holders, total premium was Rs. 5.08 lakh crore yy Chief Guest: Shri K. Ganesh, Member and total assets were worth Rs. 35.33 lakh crore, (Life),Insurance Regulatory and Development which is around USD 500 billion. It is important to Authority of India (IRDAI) cater to different expectations of younger and older yy Shri Ashish Kumar Srivastava, MD & CEO, people simultaneously along with coping with PNB MetLife India Insurance Co. Ltd. rapidly changing technology, environmental risks yy Shri Sajja Praveen Chowdary, VP, and cyber threats. Insurance companies realise Policybazaar.com that demand for products is changing, along with yy Smt. Jayashree Ranade, DGM, General changing expectations. Health insurance has been Insurance Corporation of India growing at a CAGR of 20%. People’s expectations have increased following Ayushman Bharat. yy Shri Rushabh Gandhi, Dy. CEO, IndiaFirst Life Insurance Co. Ltd. Shri Ashish Kumar Srivastava observed that insurance today is all about the instant. The In her Theme Address as the Conference Government is taking life insurance to the grass Chairperson, Smt. Tajinder Mukherjee, CMD, roots with Pradhan Mantri Jeevan Jyoti Bima National Insurance Co. Ltd. said that the reach of Yojana (PMJJBY), Pradhan Mantri Suraksha Bima the insurance sector must be enhanced, distribution Yojana (PMSBY) and Atal Bima Yojana. costs to be lowered and there needs to be ‘ultra customisation’ of products and services. The Shri Sajja Praveen Chowdary spoke about insurance industry was opened up and IRDAI was the rise of digital insurance, which is growing due set up in 2004. The policies of the industry came to convenience and instant policies.The seller of under the scrutiny of regulators.The penetration insurance products must survive on low premium, rate of insurance industry in India is low at 3.69%, these days. Online allows insurers to survive with which is much below the world average of 6%. The low margins on policies. Emerging trends indicate need for general insurance arises in areas such that both online and direct insurance will grow. as property, machinery, health and motor liability. Smt. Jayashree Ranade pointed out that Technology must be used to reach out to the the insurance industry is modernising as new age 54 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry customers want simpler policy terms, transparent yy Shri R. Seshadri, Head – Operations, CAMS underwriting, easy to comprehend benefit structure Insurance Repository Services Ltd. and low human interaction. yy Smt. Jayati Chatterjee, VP, Intellect Design Shri Rushabh Gandhi mentioned thatper Arena Ltd. capita life insurance premium is among the lowest Shri Amit Roy was of the opinion that in India compared with other countries. It was USD penetration of insurance is improving thanks to 55 for India in 2017 compared with USD 6,756 for technology. Gen Z will buy insurance cover after Hong Kong, USD 2,411 for Japan and USD 225 for purchasing an iPhone or a car. All micro finance China. The protection gap in India is high at 92% in India, 88% in China and 78% in Thailand. companies are selling insurance. Earlier, in his Welcome Address, Shri Vikas Mittal said that structured data Shri Vishal Jhajharia, President, MCCI said that can be information on credit rating, policy data, etc. the Indian insurance industry is expected to grow Unstructured data is with respect to behavioural to Rs. 19,56,920 cr. (USD 280 billion) by FY20, landmarks. Unstructured data is more useful than owing to the solid economic growth and higher structured data. A collaborative approach between personal disposable incomes in the country. Overall life and non life insurance companies would be a insurance penetration in India reached 3.69% in win-win situation for everyone. 2017 from 2.71% in 2001. Government of India has Shri V Sai Kumar said that data can be of taken a number of initiatives to boost the insurance two types. Structured data is where the customer industry, under ‘Ayushman Bharat’ policy. However, has given permission to use the data. Data can be despite these positive developments, insurance unstructured such as information gleaned from penetration in India continues to be one of the social media sites. lowest in the world at 3.69 per cent, according to the annual report by IRDAI. It is without any doubt Shri Ankit Goenka said that the one-size- that technology will be able to enhance the sector’s fits-all approach will no longer work in insurance. reach and growth. Unstructured data can be used to give customised Shri Subodh Kumar Agrawal, Chairman, / personalised products to customers. Standing Committee on Capital Market &Insurance, Shri R. Seshadri mentioned that the insurance MCCI gave a hearty Vote of Thanks. repository configures the data of the customer Panel Discussion: ‘Integrating Technology who gets a holistic view of their data. Customers & Big Data to enhance Customer Experience, can update their contact data on the platform of Distribution Channel & Marketing Strategy’ the repository and can be onboarded in a seamless The participants at the Panel Discussion were manner. yy Moderator & Panelist: Shri Amit Roy, Director, Smt. Jayati Chatterjee pointed out that there PwC India are two points to consider firstly, veracity of data yy Shri Vikas Mittal, Dy. CEO, Magma HDI and secondly, velocity of transactions. Till now, General Insurance Co. Ltd. most improvements have been on the velocity side, yy Shri V. Sai Kumar, Head – Life (Vertical), which means that paper work is being done faster. Insurance Information Bureau of India (IIB) Today, the stress is on the veracity side or how yy Shri Ankit Goenka, Head – Customer Experience, much can the customer be trusted. Bajaj Allianz General Insurance Co. Ltd. **************** Annual Report 2019-20 55 Merchants’ Chamber of Commerce & Industry

MCCI LOGISTICS FORUM 2019 “Logistics Excellence for stronger Regional Trade” Focus country: Nepal

23 December 2019 at Taj Bengal, Kolkata

MCCI, in association with the Kolkata Port Nepal. The best port for Nepal is Kolkata Port and Trust organized ‘MCCI Logistics Forum 2019’ titled that of North East is Chittagong. A strong connection “Logistics Excellence for stronger Regional Trade”, to South East Asia through Central Asia and Europe on 23December 2019 at Hotel Taj Bengal, Kolkata. would transform the entire scenario. Development of cross border tourism could be another game Inaugural Session: “Role of logistics in changer. West Bengal is in a strategic position to enhanced regional integration in South Asia” be the gateway to the entire North Eastern India The Inaugural Session was addressed by : as also of East and South East Asia. He was of the yy Shri Suresh Prabhu, Prime Minister’s opinion that Nepal can contribute in a significant Sherpa to the G20, Former Union Minister way by generating hydro electricity for several of Commerce & Industry, Railways and Civil multipurpose projects in this region. Nepal has Aviation – as Chief Guest huge rivers which can generate this green energy.

yy Shri Vinit Kumar, I.R.S.E.E, Chairman, Kolkata Shri Vinit Kumar observed that trade Port Trust relationship between India and Nepal will continue yy Shri Eknarayan Aryal, Consul Generalof to grow and India will make transit cost for Nepal Federal Democratic Republic of Nepal in as low as possible but Nepal must incur an Kolkata additional cost due to its location. However, transit point borders should be improved and diversified to Addressing the Forum as the Chief Guest, Shri Suresh Prabhu said that Logistics should be provide cost effective solution to Nepalese transit a trigger for change in Indian sub continent and trade.Kolkata Port is located in an envious position the whole of South East Asia. India will work with in Bay of Bengal and is instrumental in enhancing World Bank and Asian Development Bank to create Nepalese transit trade. Inland waterways handle a Vision for Logistics as logistics can be an engine just 9% of India’s trade, the corresponding figure for growth. India has released its first ever Air Cargo being 30~35% in Europe. KoPT has a huge role Policy, which will ensure seamless air movement to play in enhancing inland waterways through of passengers and cargo. Perishable agricultural National Waterways 1 from Kolkata to Varanasi products will be air lifted. India’s food exports are via River Ganges and National Waterways 2 from around 27 billion USD could be enhanced to a great Kolkata to Assam through Bangladesh.Chittagong extent. North Eastern states are land locked, so is to Kolkata protocol is being finalized and the 56 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry goods can be transported by NW-2 via Bangladesh is Nepal’s largest trade partner and the largest to Nepal. On high insurance cost to Nepal, IRDAI source of foreign investments, besides providing approved any agency can be approached and this transit for almost entire third country trade of has reduced the insurance charges substantially. Nepal.

Shri Eknarayan Aryal pointed out that Nepal The Inaugural Session ended with a Vote of being a land locked country, is bearing the brunt of Thanks by Shri Lavesh Poddar, Chairman, Standing high logistic cost in the transit transport of goods, Committee on Logistics, Transport & Warehousing, both in export and import. Both Governments of MCCI India and Nepal are finalizing the Treaty of Transit Session I on “Bulk Cargo” and provision to use inland waterways. He referred to a recent bilateral meeting to review the Treaty Speakers : for the operation of inland waterways facilities yy Capt. Himanshu Shekhar, Traffic Manager, to transport goods from Kolkata Port to three Kolkata Port Trust - Moderator different river ports in India near Nepal border, viz. yy Shri Dhruba Raj Thapa, President, Cement Shahebgunj, Kalughat and Varanasi from Kolkata Manufacturers Association of Nepal Port. Nepali traders should use land route to transport goods from these 3 inland waterway yy Shri Prabhas Dansana, Divisional Railway terminals. He hoped that this will reduce the trade Manager, Eastern Railway, Sealdah Division cost substantially. yy Shri Sudip Dey, Vice Chairman, Federation of Earlier, in his Welcome Address, Freight Forwarders’ Associations of India Shri Vishal Jhajharia, President of the Chamber, Capt. Himanshu Shekhar said that if said that according to reports of Global Ranking infrastructure is not developed, not only Nepal, of the World Bank’s 2018 Logistics Performance other regions of India will also suffer, because Index, India jumped to 35th rank in 2018 from e of logistic bottlenecks.Nepal has demographic 54th rank in 2016 in terms of overall logistics dividends,as young population is growing at a rate performance. The market size of the logistics sector of 6.4%. in India is seen climbing to $215 billion by 2020, Shri Dhruba Raj Thapa discussed about the logging 10.5 % CAGR over 2017. India has a skewed high landing cost of raw materials in Nepal and modal transportation mix, with 60% of freight also about logistic issues viz. non availability of rail moving on roads, which is significantly larger than rakes in time, congestion of rail traffic, compensation the developed economies. The National Logistics on plot rent etc. Policy aims at optimizing the current modal mix of road 60%, rail 31% and water 9% to international Shri Prabhas Dansana said that the most benchmarks 25-30% share of road, 50-55% share important component is loading, which has of railways and 20-25% share of waterways. India increased from 1097.58 mt in 2014–15 to 1223.29 Annual Report 2019-20 57 Merchants’ Chamber of Commerce & Industry mt in 2018–19, having a CAGR of 2.19%. He pointed expressed satisfaction that feeder services have out that 2 dedicated freight corridors :Eastern & increased and there are many 2–3 sailings from Western are under construction. He said that more Kolkata Dock System everyday.Regarding shifting points should be opened up on Nepal border and of cargoes from Nepal to Vizag, proactive thinking capacity at Nepal points needs to be enhanced. by KoPT will reduce transit costs at Kolkata Port, There are only 3 ports out of which 80% is handled through Birganj. which in turn will divert cargoes back to Kolkata.

Shri Sudip Dey pointed out that although Shri Jaibhaskar Kothandaraman mentioned Nepal has been pushing hard for Dhamra, Kolkata is that with dedicated freight corridor being flagged closest to Nepal and is more green, as it is through off in 2020, there will be interesting changes in water. If issues are resolved, all the cargoes which logistics dynamics. He said that waterways should are being shifted to Vizag, will come back to Kolkata. be facilitated to allow Nepal to use three inland Session II : Container Cargo Session waterways, thus expanding its transit options to the Speakers : sea. Cargo needs to flow from hinterland through

yy Capt. Nitin Puri, Senior Vice President waterways, rail and road. (East India), MSC Agency (India) Pvt Ltd. – Capt. Sai Subramaniaan suggested Moderator thatinfrastructure status should be granted to yy Capt. Subroto Bose, Senior General Manager, logistics; taxation and documentation with the M/S Orient Express Lines (Singapore) Pte Ltd. application of GST and e-Way Bills to be unified; yy Shri Jaibhaskar Kothandaraman, Regional Development of National Logistics Policy focusing Delivery Manager, Maersk Line India Pvt.Ltd. creation of Data Analytics Centres and unified yy Capt. Sai Subramaniaan, Port Captain, E-commerce marketplaces; International Commercial Operations, Atlantic Shri Tapan Sengupta emphasized on multi ShippingPvt. Ltd. modal connectivity with Nepal, including inland yy Shri Tapan Sengupta, Sales & Marketing waterways; transshipment of Bangladesh cargoes Head, Haldia International Container Terminal through east Indian ports with direct Services to Capt. Nitin Puri said that if waterways are Europe; connecting with regional Markets like facilitated properly, more shipping lines would Myanmar, Bangladesh, Sri Lanka through dedicated be interested to operate in Nepalese cargoes. As competition grows, cost of clearing will come down. scheduled feedering services and connecting North India cargo through east coast ports saving distance Capt. Subroto Bose pointed out that the issue is with Customs; transparency &paperless and time for the customers. work should be guaranteed, costs will reduce. He ************** 58 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SESSION ON “OPPORTUNITIES FOR INDUSTRY IN DEFENCE PRODUCTION : SPECIALLY MSME” with Lt. General Subrata Saha (Retd.), PVSM, UYSM, YSM, VSM** former Dy. Chief of Army Staff andcurrently Member, National Security Advisory Board (NSAB), Govt of India

on 10 January 2020 at Bengal Club, Kolkata

The Chamber organized a Session In order to benefit MSMEs, all Defence “Opportunities for Industry in Defence Production products that will have a development cost of : Specially MSME” with Lt General Subrata Saha less than Rs 3 cr., have been reserved for MSMEs. (Retd.), PVSM, UYSM, YSM, VSM**, former Dy. He mentioned about the top priority procurement Chief of Army Staff and currently Member, National category of ‘Indigenous Design Development Security Advisory Board (NSAB), Govt of India on Manufacturing’ (IDDM) to back MSME domestic 10 January 2020 at Bengal Club, Kolkata. companies that have proven competencies in Addressing the Session, Lt. Gen Subrata design and innovation.He dwelt upon the move Saha focused on a plethora of opportunities in the to fund 90% of the developmental cost in the Defence sector, for the industry as a whole, MSME “Make 1” category, with a guaranteed return of the sector in particular. Defence sector has a lot of remaining 10%, if a successful prototype does not hope for Make in India to succeed. Garden Reach receive orders. In the “Make 2” category, industry Ship Builders is reaching out to the industry in will fund its own prototypes but government will Maharashtra, Tamil Nadu for sourcing. The Chamber refund the entire development cost if there are no can be a facilitator so that industrial units in Bengal orders within two years of successful prototype can take benefit from this.Giving a statistical account development.He pointed out that FDI has been 26% Lt. Gen Saha mentioned that the Government of from May 2001 to June 2014, post which it has India has announced a Defence budget of Rs. 3.18 become 49% through automatic route.Innovations lakh cr. (USD 44.6 billion) for fiscal year 2019–20, for Defence Excellence [IDEX] was launched by the which represents an increase of 6.87% over the Government in April 2018to foster innovation and previous year. Out of the total allocation, Rs 1,08,248 technology in Defence, by engaging industries, cr. has been set aside for capital outlay to purchase MSME units, start–ups. new weapons, platforms and military hardware. He mentioned that there are 41 Ordnance Factories, 9 The Session was chaired by Shri Vivek DPSUs, 275 License companies with 42,000 vendor– Gupta, President, MCCI, and Shri Aakash Shah, suppliers. However, there has been no mapping of Sr Vice President, MCCI proposed Vote of Thanks. vendors supplying to Defence procurements. *********** Annual Report 2019-20 59 Merchants’ Chamber of Commerce & Industry

MEETING WITH SHRI NARENDRA MODI, Hon’ble Prime Minister of India

on 11 January 2020 at Raj Bhavan, Kolkata

A 13–Member Delegation from the Chamber yy Implement inter-linking of rivers for better led by Shri Vivek Gupta, President, MCCI met utilization of water resources, bringing down Shri Narendra Modi, Hon’ble Prime Minister of logistics cost and development of inland India on 11 January 2020 at Raj Bhavan, Kolkata. waterways.It is a matter of concern that The Hon’ble Prime Minister was on a 2–day tour in banks are not financing the barges which is the city to launch various shemes and take part in an impediment for development of logistics different programmes. particularly in the two riverine ports namely, Kolkata and Haldia. Banks may be suitably The Delegation comprised of Shri Vivek advised to provide funds for barges. Gupta, President, Shri Aakash Shah, Senior Vice President, Shri Rishabh Kothari, Vice President, Shri yy MSMEs are not only engine of growth but Vishal Jhajharia, Immediate Past President, Shri also have high employment potential. But A. R. Sonthalia, Past President & Trustee, Shri B. K. non-availability of funds from banks is the Jhajharia, Past President & Trustee, Shri M. C. Shah, biggest road-block for the growth of this Past President, Shri Suresh Jhunjhunwala, Past sector. President, Shri Sunil Kanoria, Past President, Shri Suggestions : Hemant Bangur, Past President, Shri Suresh Agarwal, Chairman, MCCI Council on Agriculture & Food a. Banks prefers to disburse loans to big Processing, Shri Mahesh Chandra Keyal, Chairman, borrowers only and have aversion to give MCCI Council on Foreign Trade and Smt. Snigdha loans to MSME units. Banks need be Shah, Chairperson, MCCI Ladies Forum (MLF). motivated with clear directives to provide loan to MEMEs on priority. The Delegation was well received by the Hon’ble Prime Minister. After brief introduction, b. NPA norms may be aligned with global the President discussed certain issues. The Prime standards. Minister was very receptive and patiently listened c. Public Procurement Policy for MSEs may be to the issues and gave his suggestions, which are implemented in letter and spirit. given below : d. Support MSMEs via bill discounting which Issues : may release more than RS.10,000 Crores. yy To ensure ‘Affordable Housing for All’ by 2022 e. Clear all government dues including dues – a Scheme for lower amount of EMI may be from PSUs to MSMEs. introduced where, say for initial 5 – 7 years f. All Export Promotion Schemes such as only interest will be paid by the loanees and (i) Interest Subvention Scheme for MSME repayment of principal amount may start after Exporters and (ii) MEIS Scheme for MSME 5- 7 years. This will not only allure more people Exports may be continued for five years. to invest in Housing Sector but also will bring all round development of the economy. ************** 60 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

A SPECIAL SESSION WITH SHRI ANURAG SINGH THAKUR, Hon’ble Minister of State for Finance & Corporate Affairs, Government of India

on 16 January 2020 at Hotel Oberoi Grand, Kolkata

A Special Session & Interaction with Balance sheet of the banks have been Shri Anurag Singh Thakur, Hon’ble Minister of improved after asset quality review. Banks have been State for Finance & Corporate Affairs, Government recapitalized and most of the banks are now out of of India was held on 16th January 2020 RBI’s Prompt Corrective Action (PCA) framework. jointly by Merchants’ Chamber of Commerce & Insolvency & Bankruptcy Code has reduced the Industry, Bharat Chamber of Commerce, Calcutta time taken to resolve issues, it has also mended Chamber of Commerce & Industry, Association of relationship between debtor & creditor. He said that Corporate Advisers & Executives and Direct Taxes 4 lakh cr. have been recovered so far and many more Professionals’ Association. to come. There would be more benches of NCLT, as also NCLAT in several states, including West Bengal. Addressing the august House, Shri Anurag Singh Thakur observed that for the 1st In his Welcome Address, Shri Vivek Gupta, time, the Central Government has set a target for President, Merchants’ Chamber of Commerce & the country to achieve 5 trillion USD by 2025. It Industry said that Indian growth story will be took 70 years to reach 1.8 trillion USD. In an effort consumption-led narrative spurred by the service to put the economy on the growth path, the Centre sector. Services have contributed more than 60 is taking several measures to boost consumption. p.c. of India’s GDP, but employ just 25 p.c. of our India is facing dual problem of growth slowdown labour force. Services can also develop around and high inflation, driven by high food prices. To manufacturing and productive agriculture. He revive industrial growth and boost consumption, observed that just like industry should not judge the Centre has taken measures like reduction in the entire department due to few people similarly Corporate tax rate, lowering of GST rates on select the department should not treat the entire trade , items and others. Union Budget 2020–21 will commerce and industry by the behaviour of very emphasize on agriculture, job creation, investment few. To eliminate or reduce litigation, making strict on infrastructure development. He stressed on criteria based on merits before the department graduating to ‘Act East’ policy of the Central goes for litigation is important. About 5 lakh cases government, as followed from ‘Look East’ policy. pending in courts and quasi-judicial bodies with a There should be a paradigm shift in taxation,tax total value of Rs 8 lakh crores may be settled with payers play a pivotal role in the process of nation suitable schemes, he noted. building. While honest taxpayers of the country The Session was also addressed by should be appreciated, those who shy away from Shri Ramesh Kumar Saraogi, President, Bharat tax payment should be identified. Reach–out policy Chamber of Commerce; Shri Madhav Sureka, of the Central Government, which has resulted in President, Calcutta Chamber of Commerce; augmenting tax collections from Rs 7 lakh cr. to Shri Jitendra Lohia, President, Association Rs.11 lakh cr. Government has given relief to citizens of Corporate Advisers & Executives and as well as corporate houses, for new manufacturing Shri Narendra Kumar Goyal, President, Direct Taxes companies, the corporate tax rate has been cut from Professionals’ Association. 30% to 15%. For existing companies, the tax rate The Session ended with a hearty Vote of has been slashed from 30% to 20%.The country’s Thanks by Shri Arvind Agrawal, Chairman, Direct position in EODB has improved from 142 to 63. Taxes Council of the Chamber. Annual Report 2019-20 61 Merchants’ Chamber of Commerce & Industry

‘CHAI PE ADDA’ SESSION

on 20 January 2020 at MCCI

MCCI organized the First Session of ‘Chai tax collection is going to be lower by Rs.3 Trillion, pe adda’,a Session on the economic issues on it was felt. Members also expressed concern about 20 January 2020 at the Chamber premises.The the high rate of tax for proprietorships, partnerships meeting was chaired by Shri Amitav Kothari, and LLPs which is about 30%, whereas Corporate Past President, MCCI.In the session, issues were Tax has been reduced to 22% This affects about 2 discussed relating to Fiscal Deficit, Lower Tax crores firms. Collection both in Direct and Indirect taxation, low As regards realization from disinvestment, realization in dis-investment. only Rs.17,000 crores received against a target of Members expressed concern over the GST Rs.1.5 lakh crores. The High fiscal deficit is going to target which was Rs.1 lac crore per month but actual create inflationary pressure and the price indices realization was much less. Direct Tax collection will go up. The target of keeping fiscal deficit at 3.3% also found to be much lower. As a result, the total of GDP may not achieved as it will go upto 3.8%. SESSION ON ‘EXPECTATIONS & CHALLENGES OF BUDGET 2020’ with Dr. Alok Puranik, Associate Professor of Commerce, Delhi University & Economic Journalist

on 28 January 2020 at Chamber The Chamber organized a Session on strong and creative response from coming Central ‘Expectations & Challenges of Budget 2020’ Budget 2020-21, Dr. Puranik observed. with Dr. Alok Puranik, Associate Professor of Earlier in his Welcome Address, Shri Aakash Commerce, Delhi University & Economic Journalist Shah, Senior Vice President, MCCI said the Budget on 28 January 2020 at its premises. Addressing the for 2020-21 to be presented on 1st February must Session, Dr. Alok Puranik, said that the Sensex is up reckon with three disturbing trends in the Indian and gold prices are high and these are not signs of economy : slowdown in rate of growth, a declining gloom. On the negative side, inflation has moved up investment rate and a stressed financial system. and vegetable prices are higher by 60% with onion The Indian economy is at the crossroads, grappling prices remaining elevated. On the positive side, India with a massive slowdown and escalating inflation. has huge foreign exchange reserves. Despite the During the six-month period of April-September Make in India initiative, the manufacturing sector is 2019, the Indian economy grew 4.8% as against 7.5% in bad shape in India. Chinese manufacturers hold in the same period a year ago. Gainful employment as much as 72% market share in smartphones opportunities need to be found for the 10-12 million in India. The Government should support the people joining the workforce every year. Since domestic smartphone and textile sectors. Money there is less space in the monetary policy to revive is not to be made in commodities but in branding. growth due to higher inflation, fiscal stimulus is the The Indian economy needs to be part of global solution. value chains. Indian economy is strong enough to generate enough resources to face the economic Shri Sanjib Kumar Kothari, Chairman, MCCI challenges, but a weak demand environment needs Council on MSME proposed Vote of Thanks. 62 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SYMPOSIUM ON UNION BUDGET 2020–21

on 3 February, 2020 at Conference Hall of the Chamber

The Chamber organized a Symposium on Shri Amitabh Kothari pointed out that even Union Budget 2020–21 on 3February, 2020 with after 6 decades of existence, Income Tax Law the following speakers : has not been finalized. Regarding Registration of yy Shri N K Poddar, FCA, Senior Advocate, Charitable Trusts for 5 years, the donation would Supreme Court of India, have to uploaded by the donor & the donee and the figures should match. This matching of yy Prof. Soumyendranath Sikdar, Professor, IIM donor–donee figures will take care of such bogus Calcutta donations. He said that shell companies are not yy Shri Amitav Kothari, FCA, Past President of defined properly either by Income Tax Act or by MCCI & Managing Partner, Kothari & Co. Ministry of Corporate Affairs, which needs to be yy Shri Vijay Sardana, FICA, MIMA, Techno- addressed. Legal and Policy Expert Shri Vijay Sardana pointed out thatsaid Addressing the House, Shri N K Poddar that although the profitability of agriculture is said that removal of Dividend Distribution Tax low, it is recession proof.Credit is not the issue (DDT) will bring in revenue loss of Rs 25,000 in agriculture, it is the utilization of credit, that cr., as dividends will now be taxed in the hands is important in agriculture. FPOs a huge role to of recipients. Charitable Trusts and Institutions, play, private investors will have to take it forward which are already registered u/s 12A or 12Aa of through knowledge transfer to the farmers using Income tax Act 1961, will now be required to re- the right technology. Budget stressed on the ‘New apply online for registration/ approval by 31st Economy’, the next generation should be prepared August 2020.Registration for new and existing for the new economy through knowledge transfer. institutions will be completely electronic under He spoke about low Hunger Index of India and which a unique registration number shall be issued widening demand–supply gap. to all. The new charity institutions which are yet to start their charitable activities,will get a provisional Earlier, in his Welcome Address, registration valid for three years. Shri Vivek Gupta, President of the Chamber said Prof. Soumyendranath Sikdar observed that although the Finance Minister presented a 16– in a situation of serious stagflation with declining point programme for doubling farmer’s income, output and rising inflation, there was no mention the Budget could not inspire confidence amongst of the state of Indian economy in the Budget. The people. Manufacturing sector is going down, obsession regarding Fiscal Deficit should go, the employment generation will remain a concern.It is primary target for the Government should be to good to implement Make in India, but it will also boost demand in rural and informal sectors.Rural hamper a lot of import dependant industries will per capital expenditure fell over the past 5 years; be hampered. Also, there has been no impetus on urban expenditure improved but at a declining rate. investments for the next year and no policies for He pointed out that demand cannot be increased Banking & NBFCs. by cutting Corporate and Income Tax rates. He however, hailed the emphasis on infrastructure Shri Bharat Agarwal, Treasurer of the with PPP, Ayushman Bharat, Skill Development Chamber proposed a hearty Vote of Thanks. and ‘New Economy’. ******************** Annual Report 2019-20 63 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘INDIA-JAPAN PARTNERSHIP for Peace & Prosperity of the Indo-Pacific’ with Mr. Masayuki TAGA, Consul General of Japan in Kolkata,

on 4 February 2020 at MCCI Conference Hall

The Chamber organized a Special Session on a perception gap among potential Indian tourists to

‘India-Japan Partnership for Peace & Prosperity of Japan as Japan is less expensive than Hong Kong the Indo-Pacific’ with Mr. Masayuki TAGA, Consul or Singapore. General of Japan in Kolkata, on 4 February 2020 Earlier, Mr. Aakash Shah, Senior Vice at MCCI Conference Hall. Addressing the Session, President, MCCI in his Welcome Address said Mr. TAGAsaid that in 2016, there were 1,305 that Japan is regarded as a key partner in India’s Japanese companies operating in India, which economic transformation. In FY 2017-2018, India- increased to 1,441 in 2018. The concentration of Japan bilateral trade reached US$ 15.71 billion. Japanese firms and citizens is high in South, North and Western India. There are only 19 Japanese Exports from Japan to India during this period companies in West Bengal and one each in Odisha were US$ 10.97 billion and imports were US$ 4.74 and Jharkhand. Although, the number of Japanese billion.It is encouraging to note that India has been companies operating in Eastern India is small, ranked as one of the most attractive investment these companies are satisfied with their experience destinations in the survey (2018) of Japanese in the East. Unfortunately, Japan External Trade manufacturing companies, conducted by the Japan

Organisation (JETRO) does not have any office in Bank for International Cooperation (JBIC). He also the Eastern part of India.Entire Eastern India region referred to the ‘two-plus-two’ dialogue between the along with the neighbouring states in East & North- 2 countries, with an aim to give further momentum East and also the neighbouring countries in South to their special strategic partnership, particularly in Asia have a combined population of about 500 the maritime domain. million, which speaks volumes about the region’s The Session ended with a hearty Vote of potential as an economic hub. India and Japan have agreed to improve connectivity of Eastern India and Thanks provided by Mr. Lavesh Poddar, Chairman, North Eastern States and the Government of Japan Council on Logistics & Tourism, MCCI. is involved in several projects in the area. There is ****************** 64 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘DOING BUSINESS WITH PHILIPPINES’ with H. E. Mr. Ramon S. Bagatsing, Jr., Ambassador of the Republic of the Philippines in India,

on 7 February 2020 at Chamber premises

The Chamber organized a Special Session with access to Japanese technology can partner on ‘Doing Business with Philippines’ with with Filipino companies to manufacture auto parts H. E. Mr. Ramon S. Bagatsing, Jr., Ambassador locally in Philippines. Philippines wants to build its of the Republic of the Philippines in India, rail network through bilateral deals and soft loans. on 7 February 2020 at its premises. He also showed a presentation that the economy of H. E. Mr. Ramon S. Bagatsing, Jr. said that trade, Philippines has a multi-billion dollar infrastructure investment and tourism are the three areas set-up with state of the art facilities. crucial for enhancing Indo – Philippines bilateral relationship. In FY 2019, there was a growth of 10% Mr. Deepak Kumar Khemka, Hony. Consul in the number of Indian tourists to the Philippines. of Philippines in Kolkata said that Philippines is Around 2.8 million Indian tourists visited Thailand a beautiful country with 7,500 islands and many while only 120,000 Indians visited Philippines. beaches. In 2017, one lakh Indian tourists visited There are plans to operate direct flights between Philippines while 25,000 Filipinos visited India. India and Philippines by December 2020. About 100,000 Indians live in Philippines, who are doing Earlier in his Welcome Address, well and have integrated in Filipino society. He Mr. Vishal Jhajharia, Immediate Past President, spoke about strengthening people-to-people ties MCCI said economic relations between the two and highlighted the crucial role that can be played countries have grown rapidly in recent years by soft diplomacy in this regard. 8–10 Indian IT although trade is still modest given the potential companies have setup BPO operations in the that exists. In 2017-18, bilateral trade grew by Philippines which employ over 100,000 employees. nearly 25% to US $ 2.45 billion with imports from He spoke about the high potential of pharmaceutical industry. The Filipino Government wants to provide the Philippines rising sharply to US $ 764 million cheap quality drugs to its citizens. Most vaccines and India’s exports growing to US $ 1.69 billion. in the Philippines originate from India. Indian India-Philippines trade in 2018-19 has been at pharma companies will not need accreditation around US $ 2.32 billion (Exports from India to from the FDA counterpart in the Philippines.Among Philippines at US $ 1,743 million and Imports from other information, Del Monte Foods has plans of Philippines by India at US $ 581 million). Estimated entering the Indian food processing market. Indian Indian investments in the Philippines are valued at and Filipino artisans can complement each other in more than US $ 900 million. Indian investments in leather goods. Philippines are in textiles, IT & ITeS, Infrastructure, Mr. Eugenio C. Elevado, Jr., Commercial chemicals. Counsellor, Embassy of the Philippines in India said that the trade deficit of Philippines with India at US Mr. Sanjib Kumar Kothari, Chairman, Council $ 1 billion is large. India has a robust automobile on MSME, MCCI proposed Vote of Thanks. industry. Indian auto component manufacturers ************ Annual Report 2019-20 65 Merchants’ Chamber of Commerce & Industry

MEETING WITH SMT. NIRMALA SITHARAMAN, Hon’ble Union Minister of Finance & Corporate Affairs

on 9 February 2020 at Oberoi Grand, Kolkata

An exclusive meeting was held with Member, Shri Rajaram Chowdhary, Member,

Smt. Nirmala Sitharaman, Hon’ble Union Minister of Shri Vinod Dubey, Tax Consultant,

Finance & Corporate Affairs, on 9th February 2020 at Shri S. S. Gupta, Advocate, Shri Jinesh Kr. Jain,

Oberoi Grand, Kolkata. The Meeting was attended by Shri Nirmal Shri Kaushik, Member, Shri

Shri Vivek Gupta, President, MCCI, Shri Vishal Vishwanath Agarwal, Shri Sanjay Bajoria, Shri

Jhajharia, Immediate Past President, MCCI, Sanjib Kumar Kothari, Chairman, Council on MSME,

Shri Aakash Shah, Senior Vice President, MCCI, Shri Arun Kumar Jagatramka, Committee Member,

Shri Bharat Agarwal, Treasurer, MCCI, Shri Arvind Shri Manaswy Kothari, Committee Member,

Agrawal, Chairman, Council on Direct Taxes, Shri Narayan Agarwal, Shri Bikash Gupta,

Shri Arun Kumar Agarwal, Chairman, Council Shri Birendra Agarwal, Past President & Committee on GST & Indirect Taxes, Shri Ramesh Chokani, Member, Shri N. K. Chandak, Shri Dhiraj Sethia,

Co-Chairman, Council on Direct Taxes, Smt. Mamta Binani, Chairperson, Council on Legal

Shri Sushil Kumar Goyal, Co-Chairman, Council on Affairs and Shri S.Roy, DDG.

GST & Indirect Taxes, Shri Sanjay Bhattacharya, ************

Special Session on ‘Roadmap to a $5 Trillion Economy’ with Smt. Bindu Dalmia, Author, Columnist & Chairperson for National Committee on Financial Inclusion at NITI Aayog,

on 24 February 2020 at Chamber

The Chamber organized a Special Session Addressing the House, Smt. Bindu Dalmia on ‘Roadmap to a $5 Trillion Economy’ with said that cyclical downturns are force majeure Smt. Bindu Dalmia, Author, Columnist & Chairperson occurrences that recur intermittently. She referred for National Committee on Financial Inclusion at to the current slowdown as the third one, India is NITI Aayog, on 24 February 2020 at its premises. facing since 1991, and each time India has displayed

66 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry resilience to emerge stronger. The sooner the medicine, improve resource efficiency and rapidly economy capitalizes on demographic dividend expand access to preventive and primary health and other comparative advantages, the faster services. In the education sector, a quantum leap is the country can achieve an upper middle class possible only through remote online learning. economy status. Currently, per capita monthly Reviving investment inflows requires a series income stands at just Rs. 11,254 in 2019/20 as per of confidence building measures so that investors the Ministry of Statistics. Mitigating poverty requires opt for India as a preferred investment destination. reducing our over-dependence on agriculture as a source of livelihood, as 58% of our labour force is The first step in actionable measures is improving dependent on agricultural income, which accounts on parameters of Ease of Doing Business. The for only 14% of GDP. The Government needs to Government must become taxpayer aswell as handhold and slow down the pace of labour investor friendly and it needs to reverse the capital displacement by incentivising labour intensive and caliber exodus from the country by engaging industries. Government spending on infrastructure in confidence building measures. With real-time and welfarism has been the dominant propeller of intervention, future budget making will be an growth, even if the government was compelled to annual event, but course correction and timely exceed the fiscal deficit target by 0.5%. So long intervention will be a round the year phenomenon, as governments deploy additional borrowings she noted. towards capital expenditure that creates long term asset building, IMF or rating agencies do not view Earlier in his Welcome Address, this negatively. Leveraging the potential of Digital Shri Vivek Gupta, President, MCCI referred to the India can take the Indian economy towards the current economic slowdown in India. He said that $5 trillion mark much faster. What India needs is how the Government deals with rapidly increasing learning from the likes of Alibaba’s Taobao platform, population, needs to be seen. Also, the flow of the world’s largest e-commerce marketplace, bank credit to entrepreneurs needs to pick up, he which reduced SMEs’ cost for innovation, widened mentioned. the ambit for entrepreneurship and offered cross- The Session ended with a hearty Vote of company linkages for cooperation; all of which Thanks proposed by Shri Rishabh Kothari, Vice reduced the early stage fixed costs for start-ups. Improving the healthcare industry through faster President, MCCI. Internet penetration can drive the adoption of tele- ******************* Annual Report 2019-20 67 Merchants’ Chamber of Commerce & Industry

Full Day Workshop–cum–Awareness Programme for MSMEs in collaboration with MSME–DI, Kolkata, Ministry of MSME, Govt. of India

on 25 February 2020 at MCCI Conference Hall

Merchants’ Chamber of Commerce & sector has been beset with its own challenges. Industry in collaboration with MSME–DI, Kolkata, Technical Session I Ministry of MSME, Govt. of India organised a Full Deliberating on details of Credit Linked Day Workshop–cum–Awareness Programme for Capital Subsidy (CLCS) component of Credit Linked MSMEs on Tuesday, 25 February 2020 at MCCI Capital Subsidy and Technology Up-gradation Conference Hall. The Workshop covered important scheme (CLCS-TUS), Smt. Rina Chakraborty, Asstt. areas of MSME sector. Director (EI), MSME-DI, Kolkata said that the Inaugural Session Central Government has decided to continue the till Dwelling upon different schemes for MSMEs, 31.03.2020 or till the time sanctions if aggregate Shri P K Das, Deputy Director, MSME-DI, Kolkata Capital Subsidy disbursed reaches to Rs. 2360 spoke about an Incubation Scheme in which an cr.whichever is earlier. opportunity is provided to the innovators for On Guidelines of TReDs, Shri Mainak Mondal, developing and nurturing their new innovative ideas Asstt. Vice President, RXILpointed out that to for production of innovative products. He spoke about overcome the issue of delayed payments, TReDS Grant in Aid to Host Institutions (HI) for developing has been conceptualized, which allows MSMEs to and nurturing the ideas up to max. Rs. 15 lakhs per post their trade receivables on the system and get idea, duration of which is one year, to be extended them financed. depending upon circumstances. He mentoined about On Implementation of CLCSS, Shri Sanjib projects on Patents and Intellectual Property Rights, Mandal, Manager, UBI Kolkata said that to facilitate like Entrepreneurial Empowerment through Design, Technology Up-gradation of SME units in the Micro & Small Enterprises – Cluster Development specified products by providing 15% capital subsidy Programme (MSE-CDP) and SFURTI– Scheme of for induction of well-established &improved Fund for Regeneration of Traditional Industries, for technology, Ceiling on Loan is Rs.100.00 Lac. Cluster development. Shri P K Das requested the entrepreneurs to avail these schemes of Govt. of India. Technical Session II Earlier, in his Welcome Address, On GST issues, Smt. Bipasa Chatterjee, Shri Sanjib Kothari, Chairman, MCCI Council on Assistant Commissioner, SGST, West Bengal spoke MSME said that MSME sector is instrumental about apportionment of Input Tax Credit [ITC], in promoting sustainable development, to foster raising Tax Invoice, Receipt & Refund Voucher. entrepreneurship, generate employment, operate Regarding GeM Registration Procedure, with low capital requirement and raising exports. Shri Rajesh Bhattacharya, Asst. Director, MSME- MSMEs in West Bengal represent around 90~95% DI, Kolkataexplained different aspects of Buyer of all industries. Till December 2019, 30,231 new & Seller Modules including Primary/ Secondary MSME units filed UAM employing nearly 2,89,100 User Registration, Order Processing, Payments persons. Despite its growth and huge potential, the and others. For MSME, UAM (UdhyogAadhaar 68 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Memorandum) and aadhar/ mobile number linked & Small Enterprises Facilitation Council as the with the same is required. Conciliator or Arbitrator for final settlement of the outstanding MSE dues. Shri Kalidas Sarkar, Manager, DIC, Kolkata The Full Day Workshop ended with a spoke about different handholding services hearty Vote of Thanks by Shri Akhil Sonthalia, Co provided by the Government of West Bengal. He Chairman, Council on MSME, MCCI. referred to the role of West Bengal State Micro *********** Special Session on ‘General Insurance Industry – Trends, Economics and Outlook for the future’ with Shri A. V. Girija Kumar , Chairman-cum-Managing Director, The Oriental Insurance Co. Ltd.

on 28 February 2020 at Chamber

The Chamber organized a Special Session on The CMD observed that there will be a ‘General Insurance Industry – Trends, Economics fundamental change in insurance in the coming 5 and Outlook for the future’ with Shri A. V. Girija to 10 years due to smartphones. Digital is doing Kumar, Chairman-cum-Managing Director, The wonders in areas such as cost reduction, speed to Oriental Insurance Co. Ltd. on 28 February market and sales productivity. In fact, all economies 2020 at its premises.Addressing the Session, are going ‘beyond digital’ in a rapid manner and Shri Girija Kumar said that the penetration of non- will continue to do so between 2020-30. life insurance, as a percentage of GDP is 0.97% Earlier, in his Welcome Address, Shri Aakash at present in India which is expected to grow to Shah, Senior Vice President, MCCI said that the 2.5% in the next five years. The penetration of life insurance industry is expected to grow to Rs insurance is currently at 2.75% which is expected 19,56,920 crore (US$ 280 billion) by FY 2020, to increase to 3.75% in the next five years. Hence, owing to fairly strong macro fundamentals and total penetration which is 3.72% today is expected higher personal disposable incomes in the country. to climb to 6.25% in the next five years. Total It is encouraging to note that the Government of premiums of non-life business currently amount India has taken a number of initiatives to boost to Rs 170,000 crore which is expected to grow to the General Insurance industry. Some of these Rs 335,000 crore by 2025 in India. Total premiums pro-active measures include : the launching of in life insurance in India currently amount to Rs the National Health Protection Scheme under 508,000 crore of which New Business contributes ‘Ayushman Bharat’ in September 2018 to provide Rs 215,000 crore and Renewal provides Rs coverage of up to Rs 500,000 (US$ 7,723) to more 293,000 core. After about 5 years, total premiums than 100 million vulnerable families ; the rolling out in life insurance will amount to Rs 900,000 crore of the Pradhan Mantri Fasal Bima Yojana (PMFBY) of which New Business will contribute Rs 380,000 which benefitted over 47.9 million farmers in 2017- crore and Renewal will provide Rs 520,000 crore. 18, etc. The National Health Protection Scheme IRDAI is seeking usage based insurance such as is expected to increase penetration of health motor insurance based on how much one drives. insurance in India from 34% to 50%. This is a global custom which will come to India. Health insurance under Ayushman Bharat will The Session ended with a hearty Vote of be a common product but pricing will vary from Thanks provided by Shri Girdhari Lal Goenka, company to company. Price and marketing will be Co-Chairman, Council on Capital Market & the differentiators. Motor, health and crop will drive Insurance, MCCI. growth in the non-life insurance business in India. ***************** Annual Report 2019-20 69 Merchants’ Chamber of Commerce & Industry

SESSION ON ‘SCIENCE FOR PEOPLE, SCIENCE FOR FUTURE’ with Prof. Ashutosh Sharma, Secretary, Ministry of Science and Technology, Government of India

on 5 March 2020 at Chamber

The Chamber organized a Session on He referred to Vigyan Jyoti as a dedicated program ‘Science for People, Science for Future’ with for girl students to pursue their careers in Science, Prof. Ashutosh Sharma, Secretary, Ministry of Engineering and Technology. Under Manak Science and Technology, Government of India on 5 programme, five lakh schools select 10 lakh ideas March 2020 at its premises. of which 1 lakh ideas win prizes. Scientific Social Addressing the Session, Prof. Ashutosh Responsibility is about building synergies among Sharma spoke about different schemes under all stakeholders in scientific knowledge communit, the Ministry. The principal challenge faced by he noted. technology is in ensuring sustainable development. Earlier in his Welcome Address, For MSMEs, the diffusion of science and technology Shri Vivek Gupta, President, MCCI said that India is not as rapid as it is for large companies.India is was world’s 3rd largest technology start-up hub ranked number three in the number of start-ups, with incorporation of 1,000 new companies in 2017. the country has 28,000 start-ups of which 15,000 In recent years, our science has been working to are based on technology. The Department of solve important challenges in the areas of water, Science and Technology supports 3,000 start-ups energy, health, environment, climate, agriculture, though 120 incubators. Start-ups also get support food. At the same time, India is getting future- from Atal Innovation Mission. Under Sophisticated ready in launching ambitious missions in cyber Analytical & Technical Help Institutes (SATHI) physical system, Artificial Intelligence, Super programme, the centres will be equipped with major Computing, Deep Ocean, biopharmaceuticals, and analytical instrument and advanced manufacturing others, which will make us globally competitive facility, which is usually not available at institutes. in a rapidly changing world order. India is today Each SATHI centre costs Rs. 125 crores and centres positioned as one of the top 5 nations in the field have been set up at Benaras Hindu University, of space exploration. Today, the Government of IIT Kharagpur and IIT Delhi. The Prime Minister’s India is extensively promoting research parks Fellowship Scheme for Doctoral Research funds and technology business incubators which 50% of costs to doctoral students in areas would promote innovative ideas till they become of interest and the matching 50% funding by commercial ventures. industry. Technology Development Board was set up to assist young entrepreneurs, which will now Shri Birendra Agarwal, Past President, MCCI extend interest subvention benefit under which proposed Vote of Thanks. Rs. 2,000 crore of bank loan will be guaranteed. *************** 70 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Session on ‘Alternate Sources of Financing for MSMEs through Capital Market’

on 6 March 2020 at Chamber

The Chamber organized a Session on are Post Issue Paid-up Capital (at Face Value) to ‘Alternate Sources of Financing for MSMEs through be Maximum of Rs. 25 cr., net Tangible Assets to Capital Market’ on 6 March 2020 at its premises. be Minimum of Rs. 3 cr. Shri Dipan Mitra, Manager SME Business Shri Ramakrishna S. Iyengar, MD, Finshore Development, National Stock Exchange said that Management Services Ltd. said that SME Exchange NSE has more than 206 MSMEs listed on NSE Platform is an opportunity for investors to invest Emerge platform and the total funds mobilised is in early stages of a business. Partnership and close to Rs. 3,200 crore. He invited SMEs,who are proprietorship firms can also go in for such IPOs. credible and are making profits to approach NSE Earlier, in his Welcome Address, for getting listed. For the initial 2-3 years, they are Shri Sanjib Kumar Kothari, Chairman, MCCI provided relaxations with regard to compliance. Council on MSME said that despite their significant Shri Rajat Baid, Deputy VP, Pantomath contribution to the Indian economy, the MSME Advisory Services Group said that the total number sector still faces financing issues. About a fifth of of listings from 2012 to 2019 stands at 488 and the MSME’s credit requirement is met by banks and total amount of funds raised in SME IPO Platform the balance comes from informal lenders and has grown from Rs. 9 cr. in 2012 to a Rs. 6,027 cr.in NBFCs. However, MSMEs must gear up for strict 2019. The eligibility criteria for SME IPO Platform compliances, he added. **************** Special Session on‘Doing Business with Nigeria’ With H.E. Major General Chris Sunday Eze (Rtd.), High Commissioner of the Federal Republic of Nigeria in India

on 7 March 2020 at Chamber

The Chamber organized a Special Session and other infrastructure. The country is trying to on ‘Doing Business with Nigeria’ with H.E. Major achieve self sufficiency in food. Nigeria has sharply General Chris Sunday Eze (Rtd.), High Commissioner moved up in Ease of Doing Business in 2018 and of the Federal Republic of Nigeria in India on 7 2019. The strategy of the Government of Nigeria is March 2020 at its premises. Addressing the House, to use fossil fuels in the short and medium term the HighCommissioner said that the economy and its advantage in mining and agriculture in the of Nigeria is US$ 446 billion in size. Nigeria is a long term. Manufacturing is 14% of the Nigerian front runner in ECOWAS and it is a single market economy and much of it is in Food & Beverage. with political stability. Nigeria produces 2.5 million Backward integration is becoming more feasible barrels of crude oil per day and off shore oil is in certain sectors. The Nigerian Government has being discovered. Nigeria is investing in rail, roads created a suitable environment for investment. Annual Report 2019-20 71 Merchants’ Chamber of Commerce & Industry

Consequently, investors may look at the country of 33.27%. India’s imports during the period 2018- as an investment destination. 19 recorded US$ 10.88 billion, as against US$ 9.5 billion in 2017-18. India is the largest importer of Earlier, in his Welcome Address, Nigeria’s crude oil. Nigeria has emerged as the fifth Shri Ramesh Agarwal, Past President, MCCI said largest supplier of crude oil and second largest India is the largest trading partner of Nigeria and supplier of LNG in 2018. Nigeria is India’s largest trading partner in Africa with the bilateral trade touching US$ 13.89 billion The Session ended with a hearty Vote of in 2018-19. Indian exports to Nigeria during the Thanks provided by Shri Pawan Kumar Rajgaria, period 2018-19 were US$ 3 billion, as against US$ Co-Chairman, Council on Foreign Trade, MCCI. 2.25 billion in 2017-18, showing an annual growth *********** INTERACTIVE SESSION ON SETTLEMENT OF DISPUTES as enunciated under the West Bengal Sales Tax (Settlement of Disputes Act.) 1999

on 11 March 2020 at MCCI Conference Hall

MCCI organized an Interactive Session on their outstanding Sales Tax/VAT/Entry Tax cases Settlement of Disputes as enunciated under the by paying only admitted tax or only a fraction of West Bengal Sales Tax (Settlement of Disputes disputed arrear tax. The scheme also allowed full Act.) 1999 as amended upto March 2020, on waiver of interest, late fee and penalty related to 11 March 2020 at MCCI Conference Hall. The delayed settlement of returns. She also expressed session, organised in association with Directorate that there is a facility to pay in installments also. of Commercial Taxes, Government of West Bengal, Shri Subir Ghosh pointed out that the Acts was addressed by Smt. Nabanita Pal, Additional covered under the SOD Scheme are Bengal Finance Commissioner of Revenue & PRO and Shri Subir (Sales Tax) Act, 1941, Bengal Raw Jute Taxation Ghosh, Deputy Commissioner of Revenue, PRO from Act, 1941, West Bengal Sales Tax Act, 1954, Central the Directorate of Commercial Taxes, Government Sales Tax Act, 1956, W.B. Motor Spirit Sales Tax of West Bengal. The session was chaired by Act, 1974, West Bengal Sales Tax Act, 1994, West Shri Arun Kumar Agarwal, Chairman of the MCCI Bengal Value Added Tax Act, 2003 and The West Council on Indirect Taxes & GST. Bengal Tax On Entry Of Goods Into Local Areas Act, Smt. Nabanita Pal discussed about the broad 2012. As regards benefits of the SOD Scheme, Shri contours of the scheme, the eligibility of the cases Ghosh said that just pay 25% in most of the cases under the scheme and the benefits of the scheme, and settle disputes and it gives relief of 75% of tax. which is valid till 31.03.2020.She explained that Further no interest, no late fee and relief of 90% of any cases pending on or before 31st January standalone penalty can be availed. 2020 for any period upto 30.06.2017 for cases initiated on or before issued by any authority in The Session ended with a hearty Vote of regard to disputes in arrear taxes, interest, late Thanks by Shri Sanjib Kothari, Chairman, Council fee and penalty are applicable. She said that this on MSME, MCCI. is a golden opportunity for all assessees to settle *********** 72 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

SPECIAL SESSION ON ‘DOING BUSINESS WITH AUSTRALIA’ with Mr. Andrew Ford, Consul General of Australia in Kolkata

on 13 March 2020 at Chamber

MCCI organized Special Session on ‘Doing Around 400,000 Indian tourists visited Australia Business with Australia’ with Mr. Andrew Ford, last year and it is the fastest growing group of Consul General of Australia in Kolkata on 13 March tourists. Around the same number of Australian 2020 at its premises. tourists visited India. Addressing the House, Mr. Andrew Ford said Earlier, in his Welcome Address, that for the first time in Australia’s history, its 2017 Mr. Rishabh Kothari, Vice President, MCCI said that Foreign Policy White Paper identified India as in the India was Australia’s 8thlargest trading partner and ‘front rank’ of Australia’s international partnerships. 5th largest export market in 2018-19, driven by coal India has been placed on par with US, Japan, and international education. Two-way goods and Indonesia and China. Indiais currently Australia’s services trade with India was $30.3 billion in 2018- fifth largest trading partner and is projected to be 19, and the level of two-way investment was $30.7 among its top three trading partners by 2035. Total billion in 2018. As regards merchandise trade, India two way trade between India and Australia has has a huge negative trade balance, as exports to grown by 15% each year over the last five years. Australia stood at $ 3.52 billion in 2018-19 only West Bengal can be a regional hub for Australia’s against our imports of $ 13.13 from Australia. engagement in mining and it can be a gateway to the mineral rich states of Jharkhand, Chhattisgarh and Education is Australia’s largest service export to Odisha. West Bengal has 7% of India’s population, India, valued at AUD 5.5 billion. Indian students 3% of its land and it accounts for 4% of India’s in Australia number almost 110,000 (year to date GDP. Among other issues, Mr. Ford mentioned September 2019), which marks a 33% increase over that Vocational Education and Skill Development, the previous year. particularly in mining are important for Australia. ****************

MCCI DURGAPUR–ASANSOL–RANIGANJ FORUM 2020 “DRIVING GROWTH TO THE NEXT LEVEL” [2nd initiative in the industrial belt]

on 14 March 2020 at The Grand Hotel, Asansol

The Chamber organized MCCI Durgapur– Durgapur Development Authority addressed as the Asansol–Raniganj Forum 2020 titled “Driving Guest of Honour. Growth to the Next Level”, 2nd initiative in the Other distinguished speakers at the Forum industrial belt, on Saturday, 14th March 2020 at The were : Grand Hotel, Asansol. Shri Moloy Ghatak, Hon’ble yy Shri Subhas Chandra Agarwalla, President, Minister for Labour, Law and Judicial, Government Federation of South Bengal Chambers of of West Bengal addressed the Forum as Chief Guest Commerce & Industry; and Shri Tapas Banerjee, Hon’ble Member of West yy Shri R P Khaitan, Working President, Bengal Legislative Assembly & Chairman, Asansol– FOSBECCI and National Joint General Annual Report 2019-20 73 Merchants’ Chamber of Commerce & Industry

Secretary, Confederation of All India Traders; scheme viz. Ude Desh ki Aam Nagarik (UDAN). yy Shri Om Prakash Bagaria, President, Asansol In his address as the Guest of Honour, Chamber of Commerce; Shri Tapas Banerjee, Hon’ble Member of West Bengal Legislative Assembly & Chairman, Asansol– yy Shri Sandeep Bhalotia, President, Raniganj Durgapur Development Authoritysaid that Chamber of Commerce; industrialists form the backbone of an economy yy Shri Bimal Patwari, CEO, Pinnacle Infotech by creating value and generating employment. He Solutions; felt that challenges in terms of land & capital and yy Shri Satvik Lall, President, Asansol Merchants bureaucratic hurdles should be removed in order to Chamber of Commerce & Industry and attract new industries. Emphasizing on simplification of procedure, the Hon’ble Chairman mentioned about yy Shri Sumit Chakraborty, General Manager, a new system from 6th March 2020, in which there Shyam Metalics & Energy Ltd. is no need for submitting duplicate papers. Addressing the Forum as the Chief Guest, Shri Subhas Chandra Agarwalla said that Shri Moloy Ghatak, Hon’ble Minister for Labour, India is expected to surge ahead in economic Law and Judicial, Government of West Bengal said development, in the light of current politico– that Durgapur–Asansol industrial belt is the largest economic situation. MSME segment is expected industrial belt in West Bengal and is very well to play a significant role in this journey.In order connected with roads, railways, ports and airport. to be globally competitive, Indian entrepreneurs The strength of this region are mines & minerals, need to globalize their outlook, adopt innovation, coal and shale gas blocks deposited underneath develop world class technologies and focus on mines, which play a huge role in getting investments skill development. into this region. Under the dynamic leadership of Hon’ble Chief Minister, West Bengal has witnessed Shri R P Khaitan pointed out that Asansol– industrial resurgence and phenomenal growth. In a Durgapur–Raniganj industrial belt, known as the bid to boost the startup ecosystem in the state, West ‘Ruhr’ of India once upon a time, has one of the Bengal Government launched the State Startup largest coal reserves in the country with a huge Policy, which is in effect from 1st January, 2016 till gas reserves. A number of industrial hubs like 31st December, 2021. The state Government has Markapur, Kanyapur, Jamuria have come up. He felt given certain Standard Operating Procedures and that bifurcation of ADDA into Asansol Development has eased the formalities for setting up industries Authority and Durgapur Development Authority will and for doing business, particularly in the Tier II lead to proper and timely treatment of issues of and Tier III cities in the districts. He stressed on both the cities and also to faster growth.In Asansol unleashing the full potential of the region and Municipal Corporation, Trade license is given for 1 requested the business community to come forward year only, whereas, it should be given for at least to avail resources and infrastructure for further 3 years, he added. industrial and business growth. Shri Om Prakash Bagaria stressed on The Hon’ble Minister announced that Burnpur promotion of regional connectivity, whcih is the airport at IISCO steel plant will be operational foundation of development. He pointed out that the very soon with the 1st flight to Guwahati via social sector including education and health should Bagdogra and the next flights will be to Ranchi be accorded topmost priority for development of and Bhubaneswar, under the regional connectivity human resources. 74 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Sandeep Bhalotia spoke about the Shri Sumit Chakraborty stressed on lack of demand of abolition of agricultural marketing access to industrial land for new industries and tax in the future and hoped that the same would complete synchronization of administration to look be done. Implementation is very important and after the industrial relations to take growth to the since the business community complies with all next level. the statutory timelines, problem redressal by the Earlier, in his Welcome Address, authorities should also be time bound. The benefits Shri Vivek Gupta, President of the Chamber, spoke of government purchases, tenders etc. should be about the reach-out initiatives of the Chamber to made available for local businessmen. the districts of the state and thanked the district Chambers of Commerce for their warm and active Shri Bimal Patwari said that despite all support in this initiative.He stressed on preparation the ingredients of growth like availability of land, of the roadmap of investments in Asansol–Durgapur skilled labour, good quality raw materials at cheap region, as the Central Pollution Control Board has prices, access to energy & power, best education banned further investments in this region due & high level literacy, good law & order situation, to high level of pollution.The loan sanctioned by adequate prevention measures against natural bankers to MSME units in West Bengal was Rs. calamities, Asansol–Durgapur region is still stuck 70,000 cr. from April to January this year, which at the same growth level. There is too much of was Rs. 15,000 cr. higher than the last year. He dependence of local industries in Asansol–Durgapur thanked the Hon’ble Chief Minister of West Bengal corridor. Earlier, the ancillary industries were being for kindly withdrawing 109 agricultural tax collecting supported by the large industries, but now the check posts in the state, which will be effective scenario has changed. The world is a global village, from 1st April, 2020. This will provide much relief to there are huge opportunities for the youth to take the agri sector and will ensure smooth movement of agricultural commodities and perishable items. up entrepreneurship as a career option. Too much This move was taken even at the cost of Rs. 200 of dependence on the Government, state or central cr. revenue loss for the state Government. is another hindrance. Government, undoubtedly, is an enabler, providing infrastructure ensuring law The Forum was attended in huge numbers & order.What is needed is a change in mindset by the members of local Chambers of Commerce and surge in entrepreneurship by people who can & Industry including Federation of South Bengal strengthen industrial growth. Chambers of Commerce & Industry,Asansol Chamber of Commerce, Raniganj Chamber of Shri Satvik Lall pointed out that with the Commerce,Asansol Merchants Chamber of introduction of GST, which is ‘One Nation, One Tax’, Commerce & Industry, Barakar Chamber of dependence on local customers should be reduced. Commerce,Neamatpur Merchants Chamber of He stressed on investment on oneself and own Commerce & Industry, Confederation of Purba & organization in the form of upgrading knowledge. Paschim Medinipur District Chambers of Commerce Brain drain has been a serious issue of this belt, & Industry, Bengal Suburban Chamber of Commerce bright students of this belt settle abroad for higher & Industry,Jamuria Chamber of Commerce,Ukhra studies and lucrative employment, this trend should Chamber of Commerce,Refractory Manufacturers be stopped and reversed. Business community of Association and others. this region deserves more respect. Even after so The Forum ended with a hearty Vote of many years, the community needs to talk about Thanks by Shri Aakash Shah, Senior Vice President the basic facilities like Trade License, Holding Tax, of MCCI. roads, security and others. ***************** Annual Report 2019-20 75 Merchants’ Chamber of Commerce & Industry

HR WORKSHOP SERIES

on Performance Enhancement through Behavioural Change

The Chamber organized the following HR Workshops:

No. Topic Speaker Date

1 3rd Workshop on Mr. Sudip Sen, Licensee, Leadership 27 April 2019 Management International (LMI) and Mr. “Positive Thinking Critical for Success” Tushar Basu, Chairman, HRD Standing Committee, MCCI and Founder Director, Analytic Consultants HRD Services.

2 4th Workshop on Mr. G Jai Shankar, Trainer, Coach and 25 May 2019 Facilitator “Manage Time Effectively”

3 5th Workshop on “HR Initiatives – HR Mr. G Jai Shankar, Trainer, Coach and 8 June 2019 Analytics for Employee Satisfaction, Facilitator Retentionand Productivity Improvement”

4 6th Workshop on “HR Initiatives – Mr. Vishal Verma, Practising HR 22 June 2019 Advanced HR Analytics for Employee Professional Satisfaction, Retention and Productivity Improvement”

5 7th Workshop on “Effective Mr. G Jai Shankar, Trainer, Coach and 27 July 2019 Communication” Facilitator

*************** 76 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry MCCI MSME Help Desk yy MCCI MSME Help Desk is a joint initiative yy MSME Help Desks were held on: of the Chamber with Department of MSME Sl No. Help Desk Date & Textiles, Govt. of West Bengal. The Help 1 8th Help Desk 10th April 2019 Desk was inaugurated by Shri Rajiva Sinha, IAS, the–then Additional Chief Secretary, 2 9th Help Desk 8th May 2019

Department of MSME & Textiles, Government 3 10th Help Desk 27th June 2019 of West Bengal on 17th April, 2018 atMCCI. 4 11th Help Desk 25th July 2019 yy The objectives of the Help Desk are to help 5 12th Help Desk 5th September 2019 MSMEs leverage the opportunities and 6 13th Help Desk 28th November 2019 explore solutions to the key issues, in which where domain and subject matter experts 7 14th Help Desk 21st January 2020 will be available for mentoring, handholding yy The Help Desks were well attended and consultation for the MSMEunits. by members, select non–members & yy The Mentor Panel for the Help Desk includes: entrepreneurs, who interacted with the 99 Shri Raj Kumar Middya, Joint Director Mentors on a one–on–one basis in the (P&S), MSME, Govt. of West Bengal – following areas: Chief Mentor ÖÖ Finance, Banking and Project Appraisal 99 Shri Sanjib Kothari, Chairman, MCCI Council on MSME ÖÖ GST and Taxation

99 Shri Smarajit Mitra, Co Chairman, MCCI ÖÖ Marketing & Branding Council on Banking & Finance ÖÖ Labour Relations 99 Shri Akhil Sonthalia, Co Chairman, MCCI ÖÖ Statutory Compliances Council on MSME ÖÖ Exports 99 M/s. Suvidha Consultants Pvt. Ltd. As

Technical Partner of the Initiative ÖÖ Miscellaneous

99 Other domain experts. *************** Annual Report 2019-20 77 Merchants’ Chamber of Commerce & Industry MCCI LADIES FORUM MCCI–MLF Forum on Women Achievers – Showcasing Corporate Success Stories

on May 2019 at MCCI Conference Hall

MCCI and MCCI Ladies Forum (MLF) Ms. Manoshi Roy Chowdhury observed that organized ‘MCCI-MLF Forum on Women Achievers it is important to have women entrepreneurs, who – Showcasing Corporate Success Stories’ on 31 May can create job opportunities to students. She stated 2019, at MCCI premises. Ms. Patti Hoffman, Consul how she along with her hudband, shouldered General of the United States of America in Kolkata the responsibility to create a unique state of art was the Guest of Honour.The panel comprised of learning environment in their schools, colleges and prominent women business leaders from Kolkata: universities to change the frontier of possibilities for learning. yy Ms. Minu Budhia, Psychotherapist, Founder - Caring Minds & ICanFlyy Ms. Soumi Banik Nag spoke about how she stood against all challenges and has expanded yy Ms. Manoshi Roy Chowdhury, Co- operations to a pan India presence, started exports Chairperson, Techno India Group to the Middle East, South Asia and some parts of yy Ms. Soumi Banik Nag, MD, Ajanta Footcare Europe. (India) Pvt. Ltd & Ms. Manisha Sharaf highlighted on her yy Ms. Manisha Sharaf, Co-Founder & Chief journey in challenging the stereotype around Financial Officer, SuperProcure. women in logistics and technology, which was a Shri Vishal Jhajharia, President, MCCI in male dominated industry. With the penetration of his introductory remarks observed that countries technology through her enterprise, the sector will in which women are marginalized are seen at now be more inclusive of women. the bottom of the list on measures of economic Earlier, in her Welcome Address, prosperity and entrepreneurial opportunity. Ms. Prapti Jhajharia, Chairperson, MLF said that as per a 2017 report of National Sample Survey, Addressing as the Guest of Honour, only 14% of business establishments in India are Ms. Patti Hoffman mentioned that women’s being run by women entrepreneurs. The data also entrepreneurship and empowerment is a priority revealed that most of these women-run companies policy area for the US Government. Enhancing the are small-scale and about 79% of them are self- role of women is important socially and economically. financed. This indicates that despite the innumerable Ms. Minu Budhia, a special needs mother initiatives taken by women to enter the corporate shared with the audience how her younger world, there seem to be several challenges. daughter’s illness set her on a path of self-discovery. The Session ended with a hearty Vote of She stressed on the importance of looking beyond Thanks given by Ms. Vandana Sonthalia, Member, stereotypes and breaking the stigma surrounding MLF. mental health by spreading awareness. **************** 78 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

MCCI–MLF FORUM ON WOMEN ACHIEVERS – Showcasing Excellence in Fashion & Creativity

on 21 June 2019 at the Chamber

MCCI and MLF organized ‘MCCI-MLF Forum Smt. Malika Varma said that she started her on Women Achievers – Showcasing Excellence Kantha enterprise with her Mother, who taught her in Fashion & Creativity’ on 21 June 2019, at the of the various challenges of life. She now supports Conference Hall of the Chamber. 800 to 1,000 girls through ‘SHE Foundation’ and The panel comprised of prominent women her kantha enterprise. As Trustee and Founder of leaders in fashion and creativity from Kolkata: Calcutta Foundation, she has worked with Steve yy Smt. Sharbari Datta, Fashion Designer and Waugh to raise funds and build the girl’s wing of Owner, Shunyaa Udayan, a home for children of leprosy sufferers. yy Smt. Agnimitra Paul, Fashion Designer and Smt. Sneha Singhi recollected how she Owner, INGA became a culinary expert and pastry chef despite yy Smt. Malika Varma, Kantha Exponent and initial opposition from her family. She decided not Social Entrepreneur, and to pursue traditional higher education, instead, yy Smt. Sneha Singhi, Culinary Expert, Food she went abroad to learn pastry making and she Columnist & Restaurateur has worked in the food business in London. She yy Shri Vishal Jhajharia, President, MCCI in thanked her Mother for always reposing faith in his introductory remarks introduced the her abilities. speakers. Earlier, in her Welcome Address, Smt. Sharbari Datta said that she grew up in a Smt. Prapti Jhajharia, Chairperson, MLF said that family of academicians, no one thought that designing women leaders only make up 25% of senior level menswear could be a viable career. Her love for her positions within the industry. Gender parity is an heritage enabled her to design men’s fashion and elusive goal for many industries and fashion is no she is a self taught designer. She designs for men as like women, they too want to look good. Not just the exception, with men disproportionately dominating designs and ideas, her enterprise presents a revival top roles across all areas of business. It is a fact to the roots of our culture. that Indian women have been making a mark in the international fashion scene for quite some Smt. Agnimitra Paul narrated her journey as a Fashion Designer for Tollywood and Bollywood. time now. Women empowerment is not a matter of After working for 23 years, she now wants to choice, but it is an essential factor for building an do something for society for a cause. She has inclusive and forward-looking society. started a project in Sundarbans where she teaches The Session ended with a hearty Vote of stitching to underprivileged women. She felt that mothers today need to tell their young daughters Thanks given by Smt. Vandana Sonthalia, Member, to be ambitious with big dreams. Young girls need MLF. to be good decision makers. **************** Annual Report 2019-20 79 Merchants’ Chamber of Commerce & Industry

‘MCCI – MLF FORUM ON WOMEN ACHIEVERS’ with Mr. Jagdeep Dhankhar, Hon’ble Governor of West Bengal as Chief Guest

on 23 September 2019 at at Oberoi Grand, Kolkata

MCCI and MLF organized ‘MCCI-MLF Forum received a standing ovation for completing 50 on Women Achievers’ on 23 September 2019 at years of singing performance. The Oberoi Grand, Kolkata. The Chief Guests were Shri Jagdeep Dhankhar, Hon’ble Governor of West Smt. Anamika Khanna said that she was Bengal and his wife, Smt. Sudesh Dhankhar. never trained in her profession and success for her came from permutations and mistakes. Nothing The following women of prominence were awarded by the Chamber : comes free and success requires a one track mind. Smt. Usha Uthup, esteemed Singer Smt. Mimi Chakraborty said she has always believed in her dreams andsheasked everyone to Smt. Anamika Khanna, reputed Fashion Designer believe in their dreams. She said that her life has been like an open book. Smt. Mimi Chakraborty, acclaimed actress & Member of Parliament, Lok Sabha Smt. Chaitali Das said that her journey has Smt. Chaitali Das, reputed Social Entrepreneur been a long and challenging one with the mission of women empowerment and poverty alleviation Shri Vishal Jhajharia, President, MCCI in his through skill development. She has taken many introductory remarks said that the MLF celebrates womanhood and supports women empowerment measures to empower rural youth. She is trying through a variety of initiatives, to create platforms to revive jute as well as teaching prison inmates where exceptional women achievers come together to make products such as cookies. She wishes to and share their stories. create a better world.

Addressing the Session as Chief Guest, Earlier, Smt. Prapti Jhajharia, Chairperson, Shri Jagdeep Dhankhar, Hon’ble Governor of West MCCI Ladies Forum (MLF) in her Welcome Address Bengal said that when India became independent, said that empowerment of women is a much women automatically got voting power from Day 1. It took women in many other countries several repeated word in India’s development stories. years to get the same right. In fact, there is hardly Over the years, women-centric programmes have a field in India, where women are not serving at gained attention, and the focus has shifted from the top. He added that for proper sustainable welfare to all-round development and finally to development, there is no substitute for women empowerment. It is encouraging that Indian women empowerment. are finally being acknowledged and appreciated for Smt. Usha Uthup pointed out that men and their new roles as professionals & entrepreneurs. women need to work together, as every woman’s The Session ended with Vote of Thanks by issue is a man’s issue as well. As a child, Ms. Uthup was brought up with the motto ‘simple living and Shri Vivek Gupta, Senior Vice President, MCCI. high thinking.’ She spoke about dreaming big. She **************** 80 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

COURTESY MEETING WITH H.E. SHRI JAGDEEP DHANKHAR Hon’ble Governor of West Bengal

on 19 March 2020 at Raj Bhavan, Kolkata

An 11–Member Delegation from MLF held Kothari, Co-Chairperson, Smt. Prapti Jhajharia, Smt. a Courtesy meeting with Shri Jagdeep Dhankhar, Mamta Binani, Smt. Chaitali Das, Smt. Vayjayanti

Hon’ble Governor of West Bengal, on 19 March Pugalia, Smt. Shruti Jhajharia, Smt. Vandana

2020 at Raj Bhavan, Kolkata. Sonthalia, Smt. Anupama Rasiwasia, Smt. Sashi

The members attended the meeting were: Agarwal, Smt. Nidhi Agarwal.

Smt. Snigdha Shah, Chairperson, Smt.Manasi ****************

Annual Report 2019-20 81 Merchants’ Chamber of Commerce & Industry OTHER IMPORTANT EVENTS Orientation programme on Workshop on ‘Entrepreneurship Development’ : Business Reforms Action Plan, 2019 (BRAP) for Enterprising the Bottom of the Pyramid through Ease of Doing Business Innovation & Digitization’ on 25 July 2019 at MCCI on 26 April 2019 at Nagarayan Bhavan, Kolkata A Workshop on ‘Entrepreneurship Shri Sanjib Kumar Kothari, Co–Chairman, Development’ : Enterprising the Bottom of Standing Committee onGST& Foreign Trade, MCCI the Pyramid through Innovation & Digitization’ attended Orientation programme on Business was held on on 25 July 2019 at MCCI Reforms Action Plan, 2019 (BRAP) for Ease of Doing premises. The Workshop was addressed by Business on 26 April 2019 at Nagarayan Bhavan, Shri Santanu Sengupta, a Fintech Executive and Kolkata.Shri Subrata Gupta, IAS, Secretary, Urban Innovation thought leader. Development & Municipal Affairs Department, **************** presided over the meeting, which was attended Meeting with Shri Nityanand Rai, by other Government officials and WBIDC. Hon’ble Minister of State of Home Affairs, Govt. of Shri Gupta discussed about various measures taken India by Government of West Bengal under EoDB (Ease on 8 August 2019 at New Delhi of Doing Business) initiative. Shri Vishal Jhajharia,President, MCCI made **************** a courtesy visit to Shri Nityanand Rai, Hon’ble Minister of State for Home Affairs,Govt. of India on Meeting with H. E. Mr. Klas Molin, Ambassador of 8 August 2019at his New Delhi office, to discuss Sweden in India relevant issues and also to extend cordial invitation on 20 May 2019 at MCCI to address a meeting with the Chamber. A Meeting with H. E. Mr. Klas Molin, **************** Ambassador of Sweden in India was held 20 May Meeting with Shri Ramdas Athawale, 2019 at MCCI premises. The meeting was attended Hon’ble Minister of State by Mr. Babi Nobis, Hony. Consul of Sweden in India, for Social Justice & Empowerment, and Mr. Vishal Jhajharia, President, MCCI. Govt of India on 8 August 2019 at New Delhi **************** Shri Vishal Jhajharia, President, MCCI met Shri Ramdas Athawale, Hon’ble Union Minister of Celebration of GST Day State for Social Justice & Empowerment at his New 1 July 2019 at GST Bhavan, Kolkata Delhi office, , to discuss relevant issues and also to On an invitation received from Shri A.P.S extend cordial invitation to address a meeting with Suri, Pr. Chief Commissioner, CGST & CX, Kolkata the Chamber. Zone to participate in the “CELEBRATION OF **************** GST DAY” on 1 July 2019 at GST Bhavan Kolkata, Meeting with WBIDC in the presence of Shri Arun Kumar Agarwal, Chairman, Standing Smt. Mamata Banerjee, Hon’ble Chief Minister of Committee on GST & Indirect Taxes, MCCI attended West Bengal the Session and shared his views on the occasion. on 16 August 2019 at Nabanna Hon’ble Justice Debangsu Basak, Calcutta High Shri Vishal Jhajharia, President, MCCI Court was the Chief Guest. attended a Meeting with WBIDC, Govt. of West **************** Bengal at Nabanna Sabhaghar in the presence

82 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry of Smt. Mamata Banerjee, Hon’ble Chief Minister, Meeting with Dr. Jitendra Singh, Govt. of West Bengal along with other Ministers MoS (I/C) for DoNER, MoS in Prime Minister’s and other dignitaries. The programme was on the Office, initiatives including inauguration, announcements Department of Personnel and Training, and handing over of industrial parks by the State Department of Space and Atomic Energy government. Govt. of India on 27 August 2019 at New Delhi **************** Shri Vishal Jhajharia, President, MCCI paid a Meeting with H.E. Shri Jagdeep Dhankhar courtesy visit to Meeting with Dr. Jitendra Singh, Hon’ble Governor of West Bengal MoS (I/C) for DoNER, MoS in Prime Minister’s Office, on 26 August 2019 at Raj Bhavan, Kolkata Department of Personnel and Training, Department Shri Vishal Jhajharia, President, MCCI along of Space and Atomic Energy, Govt. of India on 27 with Shri Suresh Jhunjhunwala, Past President, Shri August 2019 at at his New Delhi office, to discuss Hemant Bangur, Past President, Shri Rishabh Kothari, investment prospects in Jammu, Kashmir & Ladakh, Chairman, Standing Committee on MSME and Shri in the wake of recent abrogation of Article 370 of S. Roy, DDG of MCCI made a courtesy visit to H.E. the Indian Constitution. Shri Jagdeep Dhankhar, Hon’ble Governor of West **************** Bengal for being appointed as the new Governor of Meeting with Shri Mansukh L Mandaviya, Hon’ble West Bengal at 12 noon at Raj Bhavan, Kolkata. Minister of State **************** for Shipping (I/C), Chemicals & Fertiliser, Meeting with Shri Dharmendra Pradhan Govt. of India on 27 August 2019 at New Delhi Hon’ble Minister of Steel and Petroleum & Natural Gas Govt. of India on 27 August 2019 at New Delhi Shri Vishal Jhajharia, President, MCCI paid a Shri Vishal Jhajharia,President, MCCI paid courtesy visit to Shri Mansukh Mandaviya, Hon’ble a courtesy visit to Shri Dharmendra Pradhan, Minister of State for Shipping (I/C), Chemicals and Hon’ble Minister of Steel and Petroleum & Natural Fertilizers, Govt. of India on 27 August 2019 at his Gas, Govt. of India, on 27 August 2019 at his New Delhi office, to discuss relevant issues and also to New Delhi office. extend cordial invitation to address a meeting with **************** the Chamber. Meeting with Director & Commissioner of Land **************** Records Meeting with Dr. Jitendra Singh, Govt of West Bengal on 18 September 2019 at MoS (I/C) for DoNER, MoS in Prime Minister’s Office, Kolkata Department of Personnel and Training, Department of Space and Atomic Energy Shri M. C. Das, Dy. D.G of MCCI along with Govt. of India on 27 August 2019 at New Delhi a member of the Chamber met Shri Avanindra Shri Vishal Jhajharia, President, MCCI paid Singh, IAS, Director and Shri Ajay Sanyamath, a courtesy visit to Shri Dharmendra Pradhan, Commissioner of Land Records & Addl. Director, Hon’ble Minister of Steel and Petroleum & Natural Land Revenue, Govt. of West Bengal at their office Gas, Govt. of India, on 27 August 2019 at his New on 18 September 2019 to sort out the issues Delhi office, to discuss relevant issues and also to extend cordial invitation to address a meeting with relating to payment of land revenue for their the Chamber. factory premises. **************** **************** Annual Report 2019-20 83 Merchants’ Chamber of Commerce & Industry

Meeting with Smt. Nirmala Sitharaman, Govt. of India and discussed issues related to Hon’ble Minister for Finance, Govt of India Commerce, trade and railways on 31 October 2019 on 26 September 2019 at Taj Bengal, Kolkata at New Delhi. Shri Som Prakash, Hon’ble Minister Shri Vishal Jhajharia, President of the of State for Commerce & Industry, Govt. of India Chamber met and submitted a Memorandum was also present alongwith senior officials of the on behalf of the Chamber to the Hon’ble Union Minsitry. Minister of Finance, Smt. Nirmala Sitharaman at a The President requested to operationalize special meeting, held on 26 September 2019 at Taj the e–wallet from 1st Janury 2020, expedite GST Bengal, Kolkata. Refund to ease the liquidity issues specially for **************** exporters, faster transmission of Monetary Policy Meeting with Shri Mansukh L Mandaviya, to stimulate credit growth, which is a priority area. Hon’ble Minister of Shipping, Govt of India He also requested to implement the transport on 25 &26 October 2019 at Kolkata and marketing assistance (TMA) in full, instead Shri Vishal Jhajharia, President, MCCI of restricting it to freight only. The Chamber also attended a meeting of ‘Port Users Meet’ with requested to put up Weighbridge by Railways Shri Mansukh L. Mandaviya, Hon’ble Union Minister at all loading points to reduce harassment and of Shipping, organised by Kolkata port Trust on 25 construction of a wider footbridge at Santragachi October 2020 at Kolkata Port Trust Guest House, Railway station. Kolkata. **************** An exclusive Meeting with Shri Mansukh Bengal Business Conclave, Digha L Mandaviya, Hon’ble Minister of Shipping, Govt on 11 December 2019 at Business Convention Centre, Digha of India was held on 26 October 2019 at Kolkata Shri Vishal Jhajharia, President of the Port Trust Guest House, Kolkata. The Meeting was Chamber attended Bengal Business Conclave at attended by Shri Vishal Jhajharia, President, MCCI, Digha held during December 11-12, 2019, which was Shri Vivek Gupta, Senior Vice President, MCCI, Shri inaugurated by Smt. Mamata Banerjee, Hon’ble Anupam Shah, Past President, MCCI, Shri Suresh Chief Minister of West Bengal. The Conclave was Jhunjhunwala, Past President, MCCI, Shri Mahesh held at Business Convention Centre Hall having Keyal, Chairman, Standing Committee on Foreign 1100 capacity. There were police escort services, Trade, Shri Vikash Agarwal and Shri S Roy, DDG, around almost 100 in number, from Nabanna for MCCI. special guests, including MCCI President. **************** **************** Meeting with Shri Piyush Goyal, Hon’ble Minister Meeting with Shri Om Birla, Hon’ble Speaker, for Commerce & Industry and Railways, Lok Sabha Govt. of India on 25 December 2019 at Raj Bhavan, Kolkata on 31 October 2019 at New Delhi An 8–Member Delegation from the Chamber Shri Vishal Jhajharia, President, MCCI along met Shri Om Birla, Hon’ble Speaker, Lok Sabha with Shri Vivek Gupta, Senior Vice President, MCCI, at Raj Bhavan, Kolkata on 25 December 2019. Shri Anupam Shah, Past President, MCCI, Shri The Delegation was led by Shri Vishal Jhajharia, Lalit Beriwala, Chairman, Standing Committee on President, MCCI. The other important members Industry, MCCI met Shri Piyush Goyal, Hon’ble of the Delegation were Shri Vivek Gupta, Senior Minister for Commerce & Industry and Railways, Vice President, MCCI, Shri Arun Kumar Saraf, Past

84 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry President, MCCI, Shri Rishabh Kothari, Chairman, his department can work together for a mutually Standing Committee on MSME, Shri Aakash Shah, beneficial relationship. The Chamber President Committee Member, Shri Namit Bajoria, Chairman, invited the Additional Chief Secretary to address Standing Committee on Retail trade, Shri Suresh the members at a date convenient to him. Agarwal, Chairman, Standing Committee on CSR & **************** Rural Development and Shri S Roy, DDG, MCCI. MCCI Delegation attending the Union Budget **************** Session Live State Pre-Budget Interactive Meeting on 1 February 2020 at the Parliament, New Delhi. on 14 January 2020 at Nabanna A 5–Member MCCI Delegation led by Shri Vivek Gupta, President MCCI along with Shri Shri Vivek Gupta, President, MCCI, Shri Aakash Ramesh Agarwal, Past President, MCCI and Shri Shah, Sr. Vice President and Shri Rishabh Kothari, Vishal Jhajharia, Immediate Past President, MCCI Vice President attended the ‘State Pre-Budget attended the Presentation Session of Union Budget Interactive Meeting’ with Dr. Amit Mitra, Hon’ble for 2020–2021 by the Union Finance Minister, on Minister for Finance, Commerce & Industry, Govt. 1 February 2020 at the Parliament House, New of West Bengal on 14 January 2020at Nabanna. Delhi. **************** **************** Meeting with Shri Rajiva Sinha, IAS, Meeting with Shri Piyush Goyal, Chief Secretary, Government of West Bengal Hon’ble Minister of Commerce & Industry & on 14 January 2020 at Nabanna Railways, Shri Vivek Gupta, President, MCCI, Shri Govt. of India on 13 February 2020 at Hotel Taj Aakash Shah, Sr. Vice President and Shri Rishabh Bengal Kothari, Vice President made a courtesy call to Shri Rajiva Sinha, IAS, Chief Secretary, Government Shri Vivek Gupta, President, MCCI attended a of West Bengal. They discussed the various options Session with Shri Piyush Goyal, Hon’ble Minister on how the State Government and Chamber can of Commerce & Industry & Railways, Govt. of India partner together for various initiatives and also how on 13 February 2020 at Hotel Taj Bengal Terrace, the Chamber can help to spread awareness of Govt. Kolkata. The session was organized with other Policy and progarmme specially among MSME. The Chambers of Commerce of Kolkata. Chamber President invited the Chief Secretary to **************** address the members at a date convenient to him. Meeting for COVID 19 with Smt. Mamata Banerjee **************** Hon’ble Chief Minister, Govt. of West Bengal Meeting with Shri Naveen Prakash, IAS, on 16 March 2020 at Nabanna Additional Chief Secretary, Government of West Shri Vivek Gupta, President, MCCI and Shri Bengal Aakash Shah, Sr. Vice President, MCCI attended an on 14 January 2020 at Nabanna urgent meeting called by Smt. Mamata Banerjee, Shri Vivek Gupta, President, Shri Aakash Hon’ble Chief Minister, Govt. of West Bengal on Shah, Sr. Vice President and Shri Rishabh Kothari, 16 March 2020at Nabanna Sabhaghar regarding Vice President of MCCI met Shri Naveen Prakash, the precautionary measures to be taken by the IAS, Additional Chief Secretary, Dept. of Irrigation Government as well as by different Trade bodies, & Waterways, Govt. of West Bengal on 14 January Chambers of Commerce and Associations to combat 2020 at Nabanna. They discussed on the work the outbreak of COVID-19. of the Department and how the Chamber and **************** Annual Report 2019-20 85 Merchants’ Chamber of Commerce & Industry PRESS COMMUNIQUE 05.04.2019 25.04.2019 A Press Communiqué was issued on Special A Press Communiqué was issued on Special Session on “Kazakhstan-India Investment Forum” Session on “India - China Economic Ties : A Sub- with H.E. Mr. Bulat Sarsenbayev, Ambassador of National Perspective” with Mr. Zha Liyou, Consul Kazakhstan to India as Chief Guest and Mr. Marat General, The Consulate General of the Peoples’ Birimzhan, Dy. Chairman of the Management Republic of China in Kolkata, held on 25 April 2019 Board of National Company “KAZAKH INVEST”, Mr. at MCCI. Iskander Baitassov, Director of the Representative 17.05.2019 Office in China, “SAMRUK-KAZYNA” JSC, Mr. Arun A Press Communiqué was issued on Kumar Garodia, National Vice Chairman, EEPC, Interactive Session on “Corporate Challenges in the India and Mr. Sushil Patwari, Regional Chairman, Age of Technological Disruption : Strategic Do’s and FIEO, Eastern Region, held on 5 April 2019 at Hotel Dont’s” with Shri Partha S. Ghosh, Internationally Hindusthan International, Kolkata. Famous Strategy Expert and Dr. Saikat Moitra, Vice 10.04.2019 Chancellor, MAKAUT, held on 17 May 2019 at MCCI. A Press Communiqué was issued on Session 25.05.2019 on “Agriculture Export Policy : Opportunity for A Press Communiqué was issued on capturing overseas market through the new Interactive Session on “Critical Issues in GST Agriculture Export Policy with Mr. A K Das, Jt. Annual Return and Audit” with Mr. Khalid Aizaz Secretary, Department of Agricultural Marketing, Anwar, Sr. Joint Commissioner, Commercial Taxes, Govt. of West Bengal, Mr. Prem Narayan, Govt. of West Bengal as Chief Guest, held on 25 Dy. Director, National Horticulture Board and May 2019 at MCCI. Mr. Archiman Lahiri, Dy. Director, MPEDA, held on 30.05.2019 10 April 2019 at MCCI. A Press Communiqué was issued on “MSME 22.04.2019 Help Desk & Workshop” in collaboration with A Press Communiqué was issued on Special Confederation of Purba & Paschim Medinipur Session on ‘Graduate Insolvency Programme’ with District Chambers of Commerce & Industry (DCCI), Dr. M. S. Sahoo, Chairman, Insolvency & Bankruptcy held on 30 May 2019 at Medinipur Town. Board of India (IBBI),held on 22 April 2019 at MCCI. 31.05.2019 23.04.2019 A Press Communiqué was issued on MCCI– MLF Forumon Women Achievers – “Showcasing A Press Communiqué was issued on Corporate Success Stories” with Ms. Patti Hoffman, Interactive Session of SME Knowledge Initiative Consul General of the USA in Kolkata as the Guest on ‘FMCG as Driver of MSME Growth ’with of Honour, held on 31 May 2019 at MCCI. Shri P. M. Chandraiah, MD and Director Finance, Bengal Chemicals & Pharmaceuticals Ltd. and Dr. 12.06.2019 G. P. Sarkar, Founder Chairman, Allen Group, held A Press Communiqué was issued on 2nd on 23 April 2019 at MCCI. edition of MCCI Fintech Forum 2019 – Fintech: 86 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

“Digitally Disrupting the Financial World”, with 06.07.2019 Shri Debashis Sen, IAS, Additional Chief Secretary, A Press Communiqué was issued on Department of IT & Electronics, Govt. of West Symposium on ‘Union Budget 2019-20’ with Shri N. Bengal as Chief Guest, Shri Deepak Kumar , CGM- K. Poddar, Senior Advocate of the Supreme Court In-Charge, Department of IT, RBI, as Guest of of India, Prof Partha Ray, Professor of Economics, I Honour, Shri K.K. Gupta, Director, Resurgent India I M Calcutta, Shri Amitav Kothari, leading Financial Ltd., Shri Neeraj Kulshrestha, CBO, BSE Ltd. and Analyst and Past President of MCCI, Prof. Kumar Shri Ambarish Dasgupta, Sr. Partner & Founder, jit Mandal, Associate Professor, Dept. of Economics, Intueri Consulting & Principal Advisor, WEBEL as University of Calcutta, Shri Arun Kumar Agarwal, Special Guests, held on 12 June 2019 at The Lalit Chairman, Standing Committee on Indirect Taxes & Great Eastern, Kolkata. GST, MCCI, on 6 July 2020 at MCCI. 21.06.2019 17.07.2019 A Press Communiqué was issued on ‘MCCI – A Press Communiqué was issued on MCCI MLF Forum’ on Women Achievers – “Showcasing Excellence in Fashion & Creativity”, held on 21 June Multi SectoralBusiness Delegation to Singapore 2019 at MCCI. and Indonesia in collaboration with the Indian Embassy/High Commission and leading Chambers 24.06.2019 of Commerce & Industry in Singapore and Jakarta. A Press Communiqué was issued on Special 02.08.2019 Sessionon ‘Trade & Bilateral Relations Between India & Germany’ with Dr. Michael Feiner, Consul A Press Communiqué was issued on General of Germany in Kolkata and Ms. Bandana Interactive Session on ‘Fire Safety Awareness & Pokhriyal, IAS, OSD, Department of Industry, Business Sustainability’ with Shri Jag Mohan, IPS, Commerce & Enterprises, Govt of West Bengal, Director General, West Bengal Fire & Emergency held on 24 June 2019 at MCCI. Services, held on 2 August 2019 at MCCI. 26.06.2019 17.08.2019 A Press Communiqué was issued on 2nd A Press Communiqué was issued on Interactive edition of “MCCI East India Energy Forum 2019” Session on “Macro Economic Transformation : “The Evolving Energy Landscape”, with Shri & Business Opportunities in Bangladesh” with Debasish U. Banerjee, M D, CESC Ltd., Shri Sanjeev Dr. Atiur Rahman, Former Governor, Bangladesh Seth, CEO, India Power Corporation Ltd., Shri Manoj Bank & Professor, Dhaka University and Mr. Toufique Kumar Singh, G M (Mining), Coal India Limited (CIL), Hasan, Dy High Commissioner, People’s Republic of held on 26 June at The Oberoi Grand, Kolkata. Bangladesh in Kolkata, held on 17 August 2019 at MCCI. 05.07.2019 20.08.2019 In a Press communiqué, Shri Vishal Jhajharia, President, MCCI Complimented the Union Finance A Press Communiqué was issued on Special Minister, Nirmala Sitharaman on her maiden Session on ‘Social Justice & Empowerment in Budget placed in Parliament and said that the India : Progress made and Way Ahead’ with Union Budget 2019-20 is a well-balanced one and Shri Ramdas Athawale, Hon’ble MOS for Social it will provide a boost to the Industry, the social Justice & Empowerment, Govt of India, held on 20 sector and the rural economy. August 2019 at MCCI. Annual Report 2019-20 87 Merchants’ Chamber of Commerce & Industry

23.08.2019 Bengal as Chief Guest, Smt. Sudesh Dhankhar, A Press Communiqué was issued on Smt. Usha Uthup, Singer, Smt. Anamika Khanna, ‘Awareness Programme : Taxpayers under GST’ Fashion Designer, Smt. Mimi Chakraborty, actress & jointly with Central Goods Service Tax & Central Member of Parliament, Lok Sabha and Smt. Chaitali Excise Department with Shri Pandiyaraj G. V., Asst. Das, Social Entrepreneur, held on 12 September Commissioner, CGST & CX Commissionerate, held 2019 at Hotel Oberoi Grand, Kolkata. on 23 August 2019 at MCCI. 24.09.2019 06.09.2019 A Press Communiqué was issued on 3rd A Press Communiqué was issued on MCCI edition of “MCCI Destination Haldia Forum 2019” Mutual Fund Forum 2019, “Indian Mutual Fund titled ‘Driving Growth : Taking the Leap Forward’ Industry-Coming of Age” with: Shri Balkrishna at Haldia with Shri Dibyendu Adhikari, Hon’ble Kini, Dy. CEO, Association of Mutual Funds in India Member of Parliamentas Chief Guest. Shri Shyamal (AMFI) as Guest of Honour and other experts, held Kumar Adak, Chairman, Haldia Municipality as on 6 September 2019 at Hotel Lalit Great Eastern, Guest of Honour and other important stakeholders Kolkata. of the region, held on 24 September 2019. This Forum was a part of the Outreach programmes of 18.09.2019 the Chamber, with a mission to reach out to Tier II A Press Communiqué was issued on Session & Tier III towns in the districts of the state. on ‘New Growth Dimension of Kolkata Port – 06.11.2019 Challenges & Opportunities’ with Shri Vinit Kumar , Chairman, Kolkata Port Trust, held on 18 September A Press Communiqué was issued on ‘MCCI 2019 at MCCI. Education Forum 2019 ’titled “Indian Higher Education: Bridging the Skill Gap” with Shri Jagdeep 20.09.2019 Dhankhar, Hon’ble Governor of West Bengal as A Press Communiqué was issued on 3rd the Chief Guest, Rev. Dr. J. Felix Raj, S.J., Vice Annual Conference “MCCI India Economic Forum Chancellor, St. Xavier’s University, Kolkata, Prof. 2019 “Emerging Market Economy to a $ 5 Anju Seth, Director, IIM Calcutta, Prof. (Dr.) Chiranjib Trillion Economy: Journey ahead for India”, with Bhattacharjee, Pro V C, Jadavpur University and Shri Sadhan Pande, Hon’ble Minister of Consumer other experts, held on 6 November 2019 at HHI, Affairs, Self Help Group and Self Employment, Kolkata. Government of West Bengal as Chief Guest, Shri 14.11.2019 Sunil Kanoria, Vice Chairman, SREI Infrastructure Finance Ltd. and Past President MCCI, Shri Samir A Press Communiqué was issued on Kant Jha, Senior Economist & AGM, Economic Interactive Session on ‘India Post: The Road Ahead’ Research Department, State Bank of India and with Shri Gautam Bhattacharya, Chief Postmaster other experts, held on 20 September 2019 at Hotel General, West Bengal Circle, held on 14 November Taj Bengal, Kolkata. 2019 at MCCI. 23.09.2019 15.11.2019 A Press Communiqué was issued on ‘MCCI A Press Communiqué was issued on “MCCI – MLF Forum on Women Achievers’ with Mr. Bengal Agri-Food & Allied Exporters’ Forum 2019” Jagdeep Dhankhar, Hon’ble Governor of West with Shri Rajesh Kumar Sinha, IAS, Secretary, 88 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Department of Agricultural Marketing & Agriculture, 31.12.2019 Govt. of West Bengal as Chief Guest, Shri A.K. A Press Statement was issued regarding the Das,Joint Secretary, Agricultural Marketing, Govt. new Office Bearers of the Chamber for the year of West Bengal, Dr. D. D. Patra, V C, BCKV, Shri 2019-20. Amarendra Narayan, Additional Commissioner, Kolkata Customs, and other experts, held on 11.01.2020 15 November 2019 at Hotel Lalit Great Eastern, A Press Statement was issued regarding Kolkata. MCCI Delegation led by Shri Vivek Gupta, MCCI 18.11.2019 President, to meet Shri Narendra Modi, Hon’ble A Press Communiqué was issued on Special Prime Minister of India on 11 January 2020 at Raj Session on ‘Doing Business with Kazakhstan’ with Bhavan, Kolkata. H. E. Mr. Yerlan Alimbayev, Ambassador 16.01.2020 Extraordinary & Plenipotentiary of Republic of Kazakhstan in India, held on 18 November 2019 at A Press Communiqué was issued on Special MCCI. Session & Interaction with Shri Anurag Singh Thakur, Hon’ble Minister of State for Finance & 22.11.2019 Corporate Affairs, Government of India with leading A Press Communiqué was issued on ‘Vietnam’s Chambers of Commerce &Associations in Kolkata, Trade - Investment - Tourism Promotion Forum’ held on 16 January 2020 at Hotel Oberoi Grand, with H. E. Mr. Pham Sanh Chau, Ambassador of Kolkata. Vietnam in India and other dignitaries from Vietnam and India, held on 22 November 2019 at Hotel Lalit 28.01.2020 Great Eastern, Kolkata. A Press Communiqué was issued on Session 18.12.2019 on ‘Expectations & Challenges of Budget 2020’ with Dr. Alok Puranik, Associate Prof. of Commerce, A Press Communiqué was issued on ‘MCCI Delhi University, held on 28 January 2020 at MCCI. Insurance Forum 2019’ titled “Indian Insurance Industry: Navigating the Changing Landscape” with 01.02.2020 Shri K. Ganesh, Member (Life), Insurance Regulatory A Press statement was issued regarding the and Development Authority of India, Smt. Tajinder reactions of the Chamber on ‘Union Budget 2020- Mukherjee, CMD, National Insurance Co. Ltd. and 21, presented by the Union Finance Minister at other experts, held on 18 December 2019 at Hotel Parliament House. Hindusthan International, Kolkata 23.12.2019 03.02.2020 A Press Communiqué was issued on ‘MCCI A Press Communiqué was issued on Session Logistics Forum 2019’ titled “Logistics Excellence on Symposium on ‘Union Budget 2020-21’ with for stronger Regional Trade” with Mr. Suresh Shri N K Poddar, FCA, Senior Advocate, Supreme Prabhu, Prime Minister’s Sherpa to the G20, Former Court of India, Prof. Soumyendranath Sikdar, IIM Union Minister,Shri Vinit Kumar , Chairman, Kolkata Calcutta, Shri Amitav Kothari, FCA, Past President Port Trust, Shri Eknarayan Aryal, Consul General of MCCI & Managing Partner, Kothari & Co. and of Nepal in Kolkata, held on 23 December 2019 at Shri Vijay Sardana, FICA, MIMA, Techno-Legal and Hotel Taj Bengal. Policy Expert, held on 3 February 2020 at MCCI. Annual Report 2019-20 89 Merchants’ Chamber of Commerce & Industry

04.02.2020 on ‘Alternate Sources of Financing for MSMEs A Press Communiqué was issued on Special through Capital Market’ with NSE and Merchant Session on “India – Japan Partnership for Peace Bankers, held on 6 March 2020 at MCCI. & Prosperity of the Indo – Pacific” with Mr.Taga Masayuki, Consul General, Consulate General of 07.03.2020 Japan in Kolkata, held on 4 February 2020 at MCCI. A Press Communiqué was issued on Special 07.02.2020 Session on ‘Doing Business with Nigeria’ with A Press Communiqué was issued on Special H.E. Major General Chris Sunday Eze (Rtd.), High Session on ‘Doing Business with Philippines’withH. Commissioner of the Federal Republic of Nigeria in E. Ramon S. Bagatsing, Jr., Ambassador of the India, held on 7 March 2020 at MCCI. Republicof the Philippines, held on 7 February 11.03.2020 2020 at MCCI. A Press Communiqué was issued on 24.02.2020 Interactive Session on Settlement of Disputes A Press Communiqué was issued on Session as enunciated under the West Bengal Sales Tax with Smt. Bindu (Gayatri) Dalmia, Member, NITI (Settlement of Disputes Act.) 1999, held on 11 March Aayog and Chairperson for National Committee 2020 at MCCI. on Financial Inclusion & Financial Literacy, NITI Aayog on ‘Necessary Reforms for a USD 5 trillion 13.03.2020 economy by 2025’, held on 24 February 2020 at A Press Communiqué was issued on Special MCCI. Session on ‘Doing Business with Australia’ with 28.02.2020 Mr.Andrew Ford, Consul General of Australia in A Press Communiqué was issued on Special Kolkata, held on 13 March 2020 at MCCI. Session on ‘General Insurance Industry – Trends, 14.03.2020 Economics and Outlook for the future’ with Shri A. A Press Communiqué was issued on 2nd V. Girija Kumar , CMD, The Oriental Insurance Co. edition of MCCI Durgapur–Asansol–Raniganj Forum Ltd., held on 28 February 2020 at MCCI. 2020 titled “Driving Growth to the Next Level” with 05.03.2020 Shri Moloy Ghatak, Hon’ble Minister for Labour, Law A Press Communiqué was issued on Session and Judicial, Govt. of West Bengal as Chief Guest, on ‘Science for People, Science for Future’ with Shri Tapas Banerjee, Hon’ble MLA & Chairman, Prof. Ashutosh Sharma, Secretary, Department Asansol–Durgapur Development Authority as Guest of Science & Technology, Ministry of Science and of Honour, Presidents of prominent Chambers Technology, Govt of India, held on 5 March 2020 of Commerce in the region and other important at MCCI. stakeholders, held on 14 March at the Grand Hotel, 06.03.2020 Asansol. A Press Communiqué was issued on Session ****************** 90 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry REPRESENTATIONS / MEMORANDA

Sl. Representation / Memorandum sent Date Representation/ Memorandum sent to No. about Dr. Amit Mitra, Hon’ble Minister of Regarding for Introduction of E-stamping 1 02.04.2019 Finance & Excise, Commerce & Industries, in West Bengal. Government of West Bengal Shri Alapan Bandyopadhyay, IAS, Requesting him for his kind intervention Additional Chief Secretary, Department for ‘Issuance of ‘Registration Certificate – 2 28.05.2019 of Industry, Commerce & Enterprises, Part – II (RCPII)’ by Director of Industries, Government of West Bengal Government of West Bengal. Smt. Mamata Banerjee, Hon’ble Chief Minister of West Bengal Copies to : Requesting her to take ‘Affirmative action Dr. Amit Mitra, Hon’ble Minister-in- on the part of the Government to clear the Charge, Departments of Finance & Excise, long pending matters like issuance of R.C. Industry, Commerce & Enterprises, 3 06.06.2019 Part I, R.C. Part II, Certificate of Commence- Government of West Bengal ment of Commercial Production, etc. and and thereby encourage the Industries for Shri Alapan Bandyopadhyay, IAS, further investments in West Bengal’. Additional Chief Secretary, Department of Industry, Commerce & Enterprises, Government of West Bengal. Shri Ajay Bhushan Pandey, IAS, Revenue Secretary & Ex-Officio Secy to the GST requesting for ‘Waiver of Late Fee for Council 4 18.06.2019 Delay in Filing of Annual Return (GSTR 9) Copy to : and Reconciliation Statement (GSTR 9C)’. Dr. Rajeev Ranjan, Special Secretary, Office of the GST Council Secretariat.

The Member Secretary, West Bengal Requesting for intervention in respect of 5 01.07.2019 Pollution Control Board, Waste problems faced by Industrial Units from Management Cell, Govt. of West Bengal West Bengal Waste Management Limited.

Shri Ajay Bhushan Pandey, IAS, Revenue Secretary & Ex-Officio Secretary to the Regarding “Proposal for reduction of GST GST Council, 6 02.07.2019 rate from 18% to 5% for Timber (HSN 4403 Copy to : & 4407) Dr. Rajeev Ranjan, Special Secretary, Office of the GST Council Secretariat

Regarding “Relaxation for applicability of Shri Pramod Chandra Mody, IRS, 7 02.07.2019 Tax Collected at Source (TCS) provisions Chairperson, Central Board of Direct Taxes i.e. Section 206C of Income Tax Act, 1961”.

Annual Report 2019-20 91 Merchants’ Chamber of Commerce & Industry

Prayer for his kind intervention for withdrawal of the quantity/ capacity Shri Narendra Modi, Hon’ble Prime restrictive clause sought to be introduced 8 05.07.2019 Minister of India by the CPWD, Ministry of Housing & Urban Affairs for approval of the Manufacturers of Steel TMT Bars. Shri Rajiv Kumar, IAS, Finance Secretary, Regarding the irregular sanction of Rs.40 9 10.08.2019 Depart- ment of Financial Services, Crores loan against Illegal Mortgage of Ministry of Finance, Govt. of India Immovable Property. Regarding the issue of a) Illegal Sale of undivided land in within Mouza Bankra, J. L. No. 55, Plot Nos. 152,153 within P.S. Dr. Manoj Pant, IAS, Land and Domjur, District, Howrah in violation of the 10 13.08.2019 Land Reforms, Refugee Relief and orders of District Judge, Howrah Court Rehabilitation, Govt. of West Bengal order dtd: 24.05.11 & b) Illegal Conversion, Mutation & Construction on the aforesaid land in violation of the Hon’ble High Court order dated 17.04.12. regarding the Outstanding Electricity Shri Chandrashekhar K. Bawankule, charges pending to one of our esteemed Hon’ble Minister of Energy, State memberby Maharashtra State Electricity 11 03.09.2019 Excise, Government of Maharashtra and Distribution Company Ltd. (MSEDCL). For Shri R. K. Singh, Hon’ble Minister of State his kind attention and early settlement of (I/C), Ministry of Power, Govt. of India payment Shri Kamal Nath, Hon’ble Chief Minister, Regarding the ‘Proposal for Amnesty Govt. of Madhya Pradesh Scheme for pending Pre GST litigations’ Copies to : Shri Tarun Bhanot, Hon’ble drawing his kind attention to the fact that Finance Minister, Govt. of Madhya many of our members having trade and 12 16.09.2019 Pradesh. For their kind consideration: industry in his state which are having Shri Yogi Adityanath, Hon’ble Chief Pre-GST litigation which causes blockage Minister, Govt. of Uttar Pradesh of state Revenue and resources of the Shri Rajesh Agarwal, Hon’ble Finance industry in contesting the litigation. Minister, Govt. of Uttar Pradesh Requesting him for ‘extension of due date Shri Pramod Chandra Mody, Chairman, for filing Income Tax Returns and Tax Audit 13 19.09.2019 Central Board of Direct Taxes, Government Reports for A/Y 2019-20 due to September of India 30, 2019’. Requesting him for ‘issuing of Notification Shri Pranab Kumar Das, Chairman, for Change in classification of ‘Zinc Dross’ 14 25.09.2019 Central Board of Indirect Taxes & Customs, from Chapter 79 to Chapter 26 of the Government of India Customs Tariff Act’. Dr. Ajay Bhushan Pandey, IAS, Revenue Regarding problems arising due to putting 15 31.10.2019 Secretary & Ex-Officio Secretary to the a maximum 20 p.c. cap for availing ITC GST Council

92 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Chandrashekhar K. Bawankule, Hon’ble Minister of Energy, Departments: Regarding the Outstanding Electricity Energy, New & Renewable Energy, State charges pending to one of our esteemed Excise, Government of Maharashtra members, M/s. AHW Steels Pvt. Ltd. by Shri R. K. Singh, Hon’ble Minister of State Maharashtra State Electricity Distribution 16 05.11.2019 (I/C), Ministry of Power, Govt. of India. Company Ltd. (MSEDCL). Copy to : For his kind attention and early settlement Shri Sanjeev Kumar, IAS, Chairman & of the payment of outstanding Electricity Managing Director, Maharashtra State charges pending to our member Electricity, Distribution Co. Limited (MSEDCL). Regarding extending the “Incentive Dr. Amit Mitra, Hon’ble Minister of benefits under the West Bengal Industrial 17 14.11.2019 Finance & Excise, Commerce & Industries, Promotion Schemes” in the post GST Government of West Bengal regime. Union Pre-Budget Memorandum 2020- 21 on Direct Taxes to Ministry of Finance, Chamber’s suggestions for the Union 18 25.11.2019 Department of Revenue, Govt. of India and Budget 2020-2021. Central Board of Direct Taxes.

Requesting him for “Amendment Required Shri Pranab Kumar Das, Chairman, Under Notification No. 31/ 2015-20 Dated 19 26.11.2019 Central Board of Indirect Taxes & Customs, 13 .11.2019 Regarding Import Of Zinc Dross Ministry of Finance, Government of India (HSN Code - 79020010)”.

India regarding the “Amendment to Mr. L. Satya Srinivas, Joint Secretary, Customs Notification No. 50/2017 dated 20 18.12.2019 (Customs), Central Board of Indirect Taxes 30/6/2017 to include Zinc Dross (2620 19 & Customs, Ministry of Finance, Govt. of 10)”for his kind consideration.

Smt. Nirmala Sitharaman Hon’ble Minister of Finance & Corporate Affairs, Regarding the Issuance of Incentives Government of India and under the Merchandise Exports from India 21 21.12.2019 also to : Scheme (MEIS) for the Textile sector. Smt. Smriti Irani, Hon’ble Minister of For her kind consideration. Textiles and Women & Child Development, Government of India

State Pre-Budget Memorandum for the 22 10.01.2020 year 2020-21 to the Finance Department, Suggestions from the Chamber Government of West Bengal

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To ensure ‘Affordable Housing for All’ by 2022 – a Scheme for lower amount of EMI may be introduced Memorandum to Shri Narendra Modi, Implement inter-linking of rivers for better 23 11.01.2020 Hon’ble Prime Minister of India utilization of water resources, bringing down logistics cost, develop ment of inland waterways. To address non-availability of funds from banks to the MSME sector Smt. Nirmala Sitharaman Hon’ble “Few Suggestions for the Union Budget 24 13.01.2020 Minister of Finance & Corporate Affairs, 2020 -21”. Government of India Dr. Amit Mitra, Hon’ble Minister of Finance & Excise, Commerce & Industries, Government of West Bengal Copy to : Regarding the “Introduction of e-stamping 25 14.01.2020 Shri H. K. Dwivedi, IAS, Addl. Chief in the State” at the earliest. Secretary, Dept. of Finance & Excise, Government of West Bengal.

Smt. Nirmala Sitharaman Hon’ble Regarding “Redressal of issues relating to 26 18.01.2020 Minister of Finance & Corporate Affairs, road Transport Business”. Govt of India

Dr. Amit Mitra, Hon’ble Minister of Finance & Excise, Commerce & Industries, Government of West Bengal Copy to : Dr. Manoj Pant, IAS, Principal Secretary & Regarding the “Industrial Land Value in 27 20.01.2020 LRC, Deptt. of Land Reforms and Refugee West Bengal”. Relief & Rehabilitation, Government of West Bengal and Smt. Vandana Yadav, IAS, Secretary, Industry, Commerce & Enterprises, Govt. of West Bengal.

Shri Amit Yadav, Director General, Directorate General of Foreign Trade Sub : Zinc Dross – Chapter 26 under Ref and also to : 28 22.01.2020 : Notification No. 38 /2015 -2020 Dated Shri K. C. Rout, Addl. Directorate General 01st January, 2020”. of Foreign Trade, Directorate General of Foreign Trade.

Request to introduce fresh Industrial Dr. Amit Mitra, Hon’ble Minister of Incentive Policies and also to disburse the 29 24.01.2020 Finance & Excise, Commerce & Industries, amounts due based on earlier Incentive Government of West Bengal Schemes both for large and MSME units.

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Requesting him to introduce new Incentive policy exclusively for the MSME Units to create an industry and investor friendly Dr. Amit Mitra, Hon’ble Minister of Finance atmosphere in the State. 30 03.02.2020 & Excise, Commerce & Industries, Govt of He was also requested to clear all the West Bengal pending benefits accrued out of the erstwhile Incentive Schemes announced by the State Government to the beneficiaries Requesting him to introduce a fast-track system for MSMEs and also for time Dr. Manoj Pant, IAS, Principal Secretary, bound completion of conversion and Dept. of Land Reforms and Refugee Relief Barga deletion. 31 03.02.2020 & Rehabilitation, Govt. of West Bengal He was also requested to expedite the Chamber process of computerization of Land Records, Registration, Conversion and Mutation in the state.

Request for removal of sub-section 1H of Smt. Nirmala Sitharaman section 206 C of the Income Tax Act and 32 06.02.2020 Hon’ble Minister of Finance & Corporate Anomaly between Government employee Affairs, Government of India and non-Government employee.

Union Post Budget Memorandum on Direct Taxes for the year 2020–21 to Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance, & Corporate Affairs Suggestions of the Chamber on Direct 33 08.02.2020 Copies to : Taxes Dr Ajay Bhushan Pandey, IAS, Secretary , Department of Revenue, Govt. of India and Shri Pranab Chandra Mody, IRS, Chairman, CBDT for their kind consideration. Union Post Budget Memorandum on Indirect Taxes for the year 2020 – 21 submitted to Smt. Nirmala Sitharaman, Hon’ble Union Minister & Corporate Affairs, Copies to : Suggestions of the Chamber on Indirect 34 08.02.2020 Dr. Ajay Bhushan Pandey, IAS, Secretary, Taxes Department of Revenue, Govt. of India, Chairman, CBIC State Finance Ministers (who are members of GST Council), CEO, GST Council & Dr. Rajeev Ranjan, Special Secretary, GST Council Secretariat

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Smt. Nirmala Sitharaman Hon’ble Minister of Finance & Corporate Affairs, Government of India Request for clarification on the expression Copies to : ‘Stock Lot’ used in Notification No.45/ 35 10.02.2020 Shri Amit Yadav, Director General, 2015-20 dated 31.01.2020 prohibiting Directorate General of Foreign Trade, import of paper in stock lot. Govt. of India Shri Anup Wadhawan, Commerce Secretary, Govt. of India for redressal. Shri Piyush Goyal, Hon’ble Minister of “Requesting for Urgent intervention 36 11.02.2020 Commerce & Industry and Railways, regarding Notification No. 38/ 2015-2020 Government of India Dated: 01st January, 2020 Shri Amit Yadav, Director General, Directorate General of Foreign Trade, Govt. of India “Requesting for Urgent intervention 37 11.02.2020 Copy to: regarding Notification No. 38/2015-2020 Shri K. C. Rout, Addl. Directorate General Dated : 01st January, 2020 of Foreign Trade, Directorate General of Foreign Trade. Regarding Urgent intervention is A representation was made to requested regarding Notification dated: Shri K. C. Rout, Addl. Directorate General 38 21.02.2020 4th April, 2016 issued by Ministry of of Foreign Trade, Directorate General of Environment, Forest & Climate Change, Foreign Trade Govt. of India.

Shri Amit Yadav, Director General, Regarding Notification No. 45/ 2015-320 39 24.02.2020 Directorate General of Foreign Trade, dated 31.01. 2020 prohibiting import of Govt. of India paper in stock lot.

Shri M. Ajit Kumar, IRS, Chairman, Central Requesting him for a Consolidated List of 40 24.02.2020 Board of Indirect Taxes & Customs Items with the latest GST rates/Cess etc.

Requesting for clarification on the Dr. Guruprasad Mahapatra, IAS, expression ‘Stock Lot’ used in Notification 41 25.02.2020 Secretary, Dept. of Promotion of Industry No.45/2015-20 dated 31.01.2020 & Internal Trade, Govt. of India prohibiting import of paper in stock lot.

Shri Ravi Capoor, IAS, Secretary, Ministry of Textiles, Government of India and also to : Regarding Imposition of Anti Dumping 42 04.03.2020 Dr. Anup Wadhawan, IAS, Commerce Duty by Govt. of Peru on Indian Goods. Secretary, Govt. of India for kind consideration.

96 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Regarding the ‘Draft of the Drugs & Magic Remedies (Objectionable Advertisements) The Under Secretary (Drugs Regulation), (Amendment) Bill, 2020’ under reference 43 13.03.2020 Ministry of Health and Family Welfare, of letter no. F No. 11035/ 133/ 2014- Govt of India DFQC/ DRS with a request to consider our suggestions before finalizing the above draft rules.

Smt. Nirmala Sitharaman Hon’ble Minister of Finance & Corporate Affairs, Government of India also sent to : Shri Piyush Goyal, Hon’ble Minister of Railways, and Commerce & Industry, Government of India, Smt. Smriti Irani, Hon’ble Minister of Textiles, Government of India, Requesting for maintaining status quo in 44 13.03.2020 Shri Nitinbhai Patel, Dy. Chief Minister, GST rates for textile items. Finance, Roads and Building, Health and Family Welfare, Medical Education, Narmada, Kalpasar, Capital Project, Govt. of Gujarat Dr. Amit Mitra, Hon’ble Minister of Finance & Excise, Commerce & Industries,Government of West Bengal Shri Ravi Capoor, IAS, Secretary, Ministry of Textiles, Government of India,

Smt. Nirmala Sitharaman, Hon’ble Minister of Finance & Corporate Affairs, Government of India Copies to : Shri Atanu Chakraborty, IAS, Secretary, Regarding Addressing the NPA problem – 45 19.03.2020 Department of Economic Affairs, Ministry during and beyond COVID-19. of Finance, Government of India and Dr. Krishnamurthy Subramanian, Chief Economic Advisor, Department of Economic Affairs, Ministry of Finance, Government of India

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Annual Report 2019-20 97 Merchants’ Chamber of Commerce & Industry WORKING OF MCCI COUNCILS Membership Development A Meeting of the Council on Membership A Meeting of the Council on Membership Development was held on 30 August 2019 at Development was held on 12 April 2019 at MCCI, to discuss and finalise about Membership MCCI, to discuss and finalise about Membership Application forms. The meeting was chaired by Application forms. The meeting was chaired by Shri Santosh Saraf, Chairman of the Council. Shri Santosh Saraf, Chairman of the Council. Membership Development Direct Taxes A Meeting of the Council on Membership A meeting of the Council on Direct Taxes was held Development was held on 13 November 2019 at on 17 May 2019 at the Chamber premises, to discuss MCCI, to discuss and finalise about Membership and finalise Union Pre-Budget Memorandum : 2019-20 Application forms. The meeting was chaired by to be sent to the Union Finance Ministry. Shri Arvind Shri Santosh Saraf, Chairman of the Council. Agrawal,Chairman of the Standing Committee chaired Direct Taxes the meeting. A meeting of the Council on Direct Taxes was Membership Development held on 15 November 2019 at the Chamber premises, A Meeting of the Council on Membership to discuss and finalise Union Pre-Budget Memorandum Development was held on 24 May 2019at : 2020–2021 to be sent to the Union Finance Ministry. MCCI, to discuss and finalise about Membership Shri Arvind Agrawal,Chairman of the Council chaired the Application forms. The meeting was chaired by meeting. Shri Santosh Saraf, Chairman of the Council. Indirect Taxes & GST Membership Development A Meeting of the Council on Indirect Taxes A Meeting of the Council on Membership & GST was held on 9 January 2020 at MCCI, to Development was held on 28 June 2019 at finalise West Bengal Pre Budget Memorandum MCCI, to discuss and finalise about Membership for 2020–2021. The meeting was chaired by Application forms. The meeting was chaired by Shri Arun Agarwal, Chairman of the Council. Shri Santosh Saraf, Chairman of the Council. Capital Market and Insurance Infrastructure & Real Estate A Meeting of the Council on Capital A Meeting of the Council on Infrastructure & Real Market&Insurancewas held on 16 January 2020 at MCCI, Estate was held on 8 July 2019 at MCCI, to discuss to formulate the activities of the Council. The meeting was relevant issues. The Meeting was chaired by Shri chairedby Shri Subodh Kumar Agrawal, Chairman of the Munish Jhajharia, Chairman of the Council. Council. Membership Development MSME A Meeting of the Council on Membership A Meeting of the Council on MSME was held on Development was held on 10 July 2019 at 21 January 2020 at MCCI, to formulate the activities of MCCI, to discuss and finalise about Membership the Council. The meeting was chaired by Shri Sanjib Application forms. The meeting was chaired by Kumar Kothari, Chairman of the Council. Shri Santosh Saraf, Chairman of the Council. Foreign Trade Membership Development A Meeting of the Council on Foreign Trade was A Meeting of the Council on Membership held on 27 January 2020 at MCCI, to formulate the Development was held on 31 July 2019 at activities of the Council. Shri Mahesh Keyal, Chairman MCCI, to discuss and finalise about Membership of the Council chaired the Meeting. Application forms. The meeting was chaired by Retail Trade Shri Santosh Saraf, Chairman of the Council. A Meeting of the Council on Retail Trade was held Membership Development on 27 January 2020 at MCCI, to formulate the activities 98 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry of the Council. Shri Namit Bajoria, Chairman of the to formulate the activities of the Council and also to Council chaired the Meeting. prepare a Memorandum on GST issue to be presented Logistics & Tourism to the Hon’ble Union Minister for Finance on her visit to A Meeting of the Council on Retail Trade was held Kolkata on 9th February 2020. The meeting was chaired on 27 January 2020 at MCCI, to formulate the activities by Shri Arun Agarwal, Chairman of the Council. of the Council. Shri Lavesh Poddar, Chairman of the Retail Trade Council chaired the Meeting. 3rd Meeting of the Council on Retail Trade CSR & Rural Development for 2019-20 was held on 11 February 2020 at A Meeting of the Council on CSR & Rural MCCI, to discuss about MCCI Retail Forum 2020. Development was held on 28 January 2020 at MCCI, Shri Namit Bajoria, Chairman of the Council chaired the to formulate the activities of the Council. The meeting Meeting. was chaired by Shri Rajendra Khandelwal, Chairman of Membership Development the Council. A Meeting of the Council on Membership Education & Skill Development Development for 2019-20 was held on 17 February A Meeting of the Council on Education & Skill 2020 at MCCI, to discuss and finalise about Membership Development was held on 29 January 2020 at MCCI, Application forms. The meeting was chaired by Shri to formulate the activities of the Council. The meeting Santosh Saraf, Chairman of the Council. was chaired by Shri Keshav Agrawal, Chairman of the IT & Communication Council. A Meeting of the Council on IT & Communication Banking & Finance was held on 18 February 2020 at MCCI, to formulate the A Meeting of the Council on Banking activities of the Council. The meeting was chaired by Shri & Finance was held on 29 January 2020 at Vishnu Kumar Bhandari, Chairman of the Council. MCCI, to formulate the activities of the Council. Retail Trade Shri Sanjay Rasiwasia, Chairman of the Council chaired 4th Meeting of the Council on Retail Trade the Meeting. for 2019-20 was held on 25 February 2020 at Agriculture & Food Processing MCCI, to discuss about MCCI Retail Forum 2020. A Meeting of the Council on Agriculture & Food Shri Namit Bajoria, Chairman of the Council chaired the Processing was held on 31 January 2020 at MCCI, to Meeting. formulate the activities of the Council. The meeting Steel was chaired by Shri Suresh Agarwal, Chairman of the A Meeting of the Council on Steel was held on 28 Council. February 2020 at MCCI, to formulate the activities of the Legal Affairs Council. The meeting was chaired by Shri Ravi Agarwal, A Meeting of the Council on Legal Affairs was held Chairman of the Council. on 31 January 2020 at MCCI, to formulate the activities Foreign Trade of the Council. The meeting was chaired by Smt. Mamta A Meeting of the Council on Foreign Trade was Binani, Chairperson of the Council. held on 28 February 2020 at MCCI, to formulate the Retail Trade activities of the Council. The meeting was chaired by 2nd Meeting of the Council on Retail Trade Shri Mahesh Keyal, Chairman of the Council. for 2019-20 was held on 3 February 2020 at Retail Trade MCCI, to discuss about MCCI Retail Forum 2020. 5th Meeting of the Council on Retail Trade Shri Namit Bajoria, Chairman of the Council chaired the for 2019-20 was held on 11 March 2020 at Meeting. MCCI, to discuss about MCCI Retail Forum 2020. Indirect Taxes & GST Shri Namit Bajoria, Chairman of the Council chaired the A Meeting of the Council on Indirect Taxes & Meeting. GST was held on 7 February 2020 2020 at MCCI, ************** Annual Report 2019-20 99 Merchants’ Chamber of Commerce & Industry OTHER ACTIVITIES OF THE CHAMBER Participation in ASSOCHAM Managing sources from within the country as well as from

Committee: abroad. Inter-linkages with various trade and

Shri Sanjay Agarwal, Past President, MCCI promotional bodies, professional organisations and Managing Director, Century Plyboards (I) including Non-Governmental Organisations (NGOs) Ltd. represented the Chamber on the ASSOCHAM were strengthened to develop information base at Managing Committee. the Chamber in order to cater to the requirements of the members of the Chamber. It may also be Participation in AIOE Committee: mentioned that the various foreign diplomatic Shri Arun Kumar Saraf, Past President, MCCI missions based in India had regular support in and CMD of UAL Industries Limitedrepresented the providing information resulting in meaningful Chamber on AIOE Committee for 2019 – 20. businessalliances. Certificate of Origin: Acknowledgments: The Chamber issued 7101 Certificates of The Committee would like to take this Origin, 785 Invoices, 389 Shipping Documents and opportunity to offer sincere appreciation for the Agency Agreements during the period. In addition, cooperation received from various Departments of recommendations for 104 Visa / Passports were the Ministries of the Union and State Governments, also issued. Foreign Diplomatic Missions, International

New Membership: Organisations, Trade Bodies and Associations.

The total number of members as on 31st The Committee is grateful to the Press who have

March 2020 was 719, 21 new members enrolled always lent their support and focused the activities while 22 members resigned during the financial of the Chamber in a big way. year under review. The Committee would also like to put on

Circulars and Trade Enquiries: records its high appreciation of thecompetent

The Chamber issued 222 Circulars covering services rendered by the officers and staff of the various subjects and also a number of Trade Chamber. Enquiries, which were received through various ************ 100 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry PAST TRUSTEES / ADVISORY COUNCIL / MCC FOUNDATION / COUNCILS 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 R.S. Goenka Shri Vishal Jhajharia Shri Vivek Gupta Working Council Chairman Co-Chairman Shri Sanjay Agarwal Shri Hemant Bangur Members Shri A.R. Sonthalia Shri B K Jhajharia Shri M C Shah Shri Suresh Jhunjhunwala Shri Santosh Kumar Saraf Shri Arun Kumar Saraf Shri Vishal Jhajharia Shri Vivek Gupta Shri Aakash Shah Shri Rishabh Kothari Merchants’ Chamber of Commerce Foundation Chairman Shri Vivek Gupta Members Shri A.R. Sonthalia Shri B.K. Jhajharia Shri Arun Kumar Churiwal Shri Santosh Kumar Saraf Shri Arun Kumar Saraf Shri Vishal Jhajharia Shri Aakash Shah Shri Rishabh Kothari Shri Arun Kumar Dalmia Shri Bharat Agarwal

Annual Report 2019-20 101 Merchants’ Chamber of Commerce & Industry COUNCILS Agriculture & Food Processing Chairman Shri Suresh Agarwal Members 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 Aditya Kumar Poddar Shri Sanjay Rasiwasia Shri Sudhir Satnaliwala Shri Chandan Sahani Special Invitees Prof. S. Dattagupta Prof. Ashok Mishra Mr. Taj Mohammad 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 Sanjib Kumar Kothari Shri Mahesh Chandra Keyal Shri Bijay Murmuria Shri Vijay Maheshwari Shri Vineet Nahata Shri Amitabh Saraogi Shri Devendra Vyas Capital Market & Insurance Chairman Co-Chairman Shri Subodh Kumar Agrawal Shri Girdhari Lal Goenka Members Shri Vasudeo Agarwal Shri Kamal Nayan Jain Shri R.S. Jhawar Shri Bijay Murmuria Shri Ravindra Sanghai Shri Vikash Somani Special Invitees

102 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Nirmal Bazaz Shri Vijay Kumar Chandak Shri Dinesh Jain Shri Rajesh Kumar Lihala Shri Swatantra Rustogi Shri Manoj Kumar Saraf CSR & Rural Development Chairman Co-Chairman Shri Rajendra Khandelwal Smt. Chaitali Das Smt. Vaijyanti Pugalia Members Shri Arvind Agrawal Shri Pulkit Baid Shri Devesh Bansal Shri Lalit Beriwala Shri V. K. Bhandari Shri Girdhari Lal Goenka Shri Sanjay Jain Shri Bimal Kumar Kejriwal Smt. Snigdha Shah Direct Taxes Chairman Co-Chairman Shri Arvind Agrawal Shri Ramesh Kumar Chokhani 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 Sanjay Bhattacharya 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 Prithvi Raj Kothari Shri Yasaswi Kothari Shri Mahesh Kr. Modi Shri Ashutosh Poddar Shri Kishan K. Poddar Shri P.K. Roychowdhury Shri Ramanand Rustagi Shri Sunil Surana Shri Miraj D. Shah Shri Vikash Surana

Annual Report 2019-20 103 Merchants’ Chamber of Commerce & Industry

Special Invitees Smt. Nilima Joshi Shri P.D. Rungta Shri Anand Tibrewal Education & Skill Development Chairman Co-Chairman Shri Keshav Agarwal Shri Taranjit Singh Members Shri Tushar Basu Shri Saurav Jalan Shri Kishan Kejriwal Shri Smarajit Mitra Shri Anupam Shah Shri Miraj D. Shah Shri Dharmen Trivedi Foreign Trade Chairman Co-Chairman Shri Mahesh Chandra Keyal Shri Pawan Kumar Rajgaria Members Shri Abhishek Agarwal Shri Keshav Agarwal Shri S.N. Agarwal Shri Suresh Agarwal (Rose Impex) Shri Suresh Agarwal (Satellite) Shri Vishal Agarwal Shri Pankaj Bajaj Smt. Rachna Bajaj Shri Namit Bajoria Shri Vishnu Kumar Bhandari Shri Arun Kumar Garodia Shri Sumit Goyal Shri Ramesh C.Gupta Shri Srikant Jain Shri AshutoshJaiswal Shri Vishal Jhajharia Shri Pervez S. Kaikobad Shri Srivatsa Kajaria Shri Bhaven Kamdar Shri Surendra Keyal Shri Vinay Maheswari Shri Pankaj Kumar Palriwala Shri S K Patwari Shri Sanjay Rasiwasia Shri Anil Saraogi Shri Rajat Sarawgi Shri Chirag Sheth Special Invitees Shri Vikas Agarwal

104 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

GST & Indirect Taxes

Chairman Co-Chairman Shri Arun Kumar Agarwal Shri Sushil Kr. Goyal 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 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 Maruti Maheswari Shri Sanjay Rasiwasia Shri Ghanshyam Saraf Shri Santosh K.Saraf Shri Anil Saraogi Shri Amitabh Saraogi Shri Sukhbir Singh

Spedial 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 Shri Tarun K.Gupta Smt. Punam Kanodia Shri Lalit K. Modi Shri Saibal Mukherjee Shri Atanu Pahan Shri Prakash Chandra Pincha Shri Anand Prakash Shri Ravi K.Sharma

Annual Report 2019-20 105 Merchants’ Chamber of Commerce & Industry

HRD Chairman Co-Chairman Shri Tushar Basu Shri Abhishek Bagaria Members Shri Arun Kumar Agarwal Shri Arvind Agrawal Smt Rekha Arora Shri Anjan Banerjee Shri Shankhanil Banerjee Shri Deben Bhagat Shri Debasish Bhattacharjee Smt. Sunayana Chattopadhyay Shri Saibal Chakraborty Shri Syamal Kr. Chakrabarti Shri Diptarup Choudhury Smt. Deepika Das Shri Subhabrata Dasgupta Smt. Ajapa Ghosh Smt. Ivy Ghoshal Shri Raj Kumar Gupta Smt. Aparupa Ghosh Shri Rajesh Kumar Jain Shri Chandrashekhar Mukherjee Shri Bidyut Majumdar Shri Vijay Pandey Shri Kaushik Shah Shri Vikas Saraf Dr. J. S. Sareen Shri Himadri Sen Shri Sanjay Singh Shri Indrapaul Singh Shri Rohin Raj Sureka Smt. Tanaya Sen Verma

Spedial Invitees Shri Vivek Agarwal Shri Saurabh Barman Shri Sabyasachi Bhattacharya Shri Subroto Basu Chaudhury Smt. Indrani Roy Chowdhury Smt. Soma Das Shri Hirok Ghosh Shri Nihar Ranjan Ghosh Shri Ujjal Sen Gupta Shri Gautam Mukherjee Shri Abhaya Kumar Mahapatro Shri Sudeep Mazumder Shri Prakash Chandra Panda Smt. Susmita Saha Shri Vineet Saxena Smt. A. Ratna Sekhar Shri Manas Sengupta Shri D Shome Smt. Shreyasi Shome Shri Vishal Verma

106 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry Industry Chairman 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 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 Padip Kumar Todi Special Invitees Dr. Jayanta K. Saha

Infrastructure & Real Estate

Chairman Co Chairmen

Shri Munish Jhajharia Shri Vicky Raj Sikaria

Shri Kushal Rungta

Members

Shri Rama Shanker Bhartia Shri Rajeev Ginodia

Shri Vivek Kajaria Shri Anand Neotia

Shri Apurva Salarpuria Shri Amit Sarda

Shri Rohit Singhania

Special Invitees

Shri Piyush Bhagat Shri Pradip Kumar Chopra

Shri Amit Kumar Kedia Shri Avinash Yaduka

Annual Report 2019-20 107 Merchants’ Chamber of Commerce & Industry

IT & Communication Chairman Co-Chairman Shri Vishnu Kumar Bhandari CA Sanjib Sanghi Shri Amit Sharma Members Shri Arif Ahmed Shri Neeraj Agarwal Shri Ashish Bagla Shri Ranjan Goenka Shri Sumit Kothari Shri Tanmoy Mukherjee Special Invitees Shri Prakash Agrawal Shri Hemant Chabria Shri Sanjay Chaudhury CS Anil Dubey

Legal Affairs Chairperson Co-Chairman

Smt. Mamta Binani Shri Mahesh Shah

Members

Shri Manish Agarwal Shri Rakesh Agarwal

Shri Swachchidanand Agarwal Shri Vinay Agarwal

Shri R.S. Agarwala Adv. Debatrayee Banerjee

Shri N.K. Dujari Shri A. K. Joshi

Shri Sundeep Jhunjhunwala Shri Ashok Pareek

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

108 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Logistics & Tourism Chairman Co-Chairman Shri Lavesh Poddar Shri Suresh Kumar Agarwal Members Shri Ashok Kumar Agarwal Shri Rajesh Agarwal Shri Rajesh Kumar Agarwal Shri Krishan Kumar Bansal Shri Sanjay Bhandari Shri Manish Dutt Shri Arun Goel Shri Vishal Jhajharia Shri Amit Kajaria Shri Sushil Poddar Shri Santosh Saraf Shri Naveen Somani Shri Saket Tibrewal Special Invitees Shri Rajiv Kumar Arora Shri Ami Chand Surana Membership Development Chairman Co-Chairman Shri Santosh Saraf Shri Arun Kumar Saraf Members Shri A.R. Sonthalia Shri B.K. Jhajharia Shri Vishal Jhajharia Shri Bharat Agarwal MSME Chairman Co-Chairman Shri Sanjib Kumar Kothari Shri Akhil Sonthalia Members Shri Manoj Agarwal Shri Suresh Kumar Agarwal Shri Mani Almal Shri Sunil Kumar Bhoruka Shri Sanjay Goenka Shri Anirudh Jhunjhunwala Shri Arkopaul Maiti Shri Smarajit Mitra Shri Sushant Gopal Sureka Special Invitees Shri Jitendra Agarwal Shri Anurag Srivastava, IAS Shri Biswanath Bhattacharya Shri K D Bhattacharya Shri Dipankar Chakraborty Smt. Sudipta Chatterjee Prof. Ranjan Das Shri D.K. Mitra Shri Udit Prasanna Mukherjee Smt. R. Prabhavati Sri Biplob Roy Chowdhury Shri Nidhu Saxena Shri Subhrangshu Sanyal Shri Tarun Thakur

Annual Report 2019-20 109 Merchants’ Chamber of Commerce & Industry

Power & Renewable Energy Chairman Co-Chairman

Shri Devendra Goel Shri Vinay Mohta

Members

Shri Manish Beriwala Shri B.L. Chandak

Shri M.R. Ghosh Shri Bhaven Kamdar

Shri Dhruv Sharma 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 Manish Gourisaria

Members

Shri Birendra Agarwal Shri Manish Agarwal

Shri Mayank Agarwal Shri Suresh Kumar Agarwal

Shri Pulkit Baid Shri Sanjay Goenka

Shri Rohit Deepak Jalan Shri Saurav Jalan

Shri Shasank Sekhar Jalan Shri Bhaven Kamdar

Shri Aditya Kumar Poddar Shri Nitin Rungta

Shri Sandeep Seksaria

Special Invitees

Shri Kalyaneswar Sarkar Shri Siddhartha Sawansukha

Shri Subhankar Sen

110 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

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 Sunil Bansal Shri Lalit Beriwala Shri Vijay Shankar Beriwal Shri Dinesh Kumar Bihani Shri Vinay Binani Shri Tapash Chatterjee Shri Kumar Chand Chawla Shri Ashok Chowdhary Shri Mukesh Kumar Dhandhania Shri Dilip Kumar Didwania Shri Sanjay Goenka Shri Alok Goyal Shri Anand Gupta Shri Jag Mohan Gupta Shri Prem Gupta Shri Raj Kumar Gupta Shri B.P. Jalan Shri P K Jalan Shri Punit Jatia Shri Nirmal Kanodia Shri Bimal Kumar Kejriwal Shri Jitendra Kejriwal Shri R. S. Kejriwal Shri Ankit Keyal Shri Mahesh Chandra Keyal Shri Surendra Keyal Shri YogeshKhanna Shri PraveenMehrotra Shri Nirmalya Mukherjee Shri Pankaj Kumar Palriwala Shri Sanjib Kumar Patwari Shri Nirmal Saraf Shri Ashish Shah Shri Pradeep Kumar Singhania

Important : The following Office Bearers of the Chamber are Ex-officio members of all the Councils : yy Shri Vivek Gupta, President yy Shri Aakash Shah, Senior Vice President and yy Shri Rishabh Kothari, Vice President

Annual Report 2019-20 111 Merchants’ Chamber of Commerce & Industry

MCCI Ladies Forum (MLF)

Chairperson Co-Chairperson

Smt. Snigdha Shah Smt. Manasi Kothari

Members

Smt. Divya Agarwal Smt. Niharika Agarwal

Smt. Puja Agarwal Smt. Sashi Agarwal

Smt. Seema Agarwal Smt. Anita Agarwala

Smt. Rina Rani Bhandari Smt. Mamta Binani

Smt. Chaitali Das Smt. Nidhi Goyal

Smt. Ruchika Gupta Smt. Saritaa Jalan

Smt. Anju Jhajharia Smt. Prapti Jhajharia

Smt. Shruti Jhajharia Smt. Vandana Jhajharia

Smt. Vaijayanti Pugalia Smt. Madhu Rajgarhia

Smt. Anupama Rasiwasia Smt. Saroj Saraf

Smt. Shibani Miraj Shah Smt. Vandana Sonthalia

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112 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry AFFILIATIONS

The Chamber is affiliated with the following Organisations:

yy The Associated Chambers of Commerce & Industry of India, New Delhi

yy All India Organisation of Employers, New Delhi

The following Organisations are affiliated with the Chamber :

99 Association of Corporate Advisers & Executives

99 Association of National Exchanges Members of India (ANMI),EIRC

99 Bengal Timber Importers Association

99 Calcutta Motor Dealers’ Association

99 Computer Association of Eastern India (COMPASS)

99 Foundry Cluster Development Association

99 Outdoor Advertising Association

99 Steel Re-Rolling Mills Association of India

99 The Jute Balers’ Association

99 Tools & Alloy Steels Association

99 Welfare Society for the Members of Jalan Industrial Complex

99 West Bengal Paper Traders Association

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Annual Report 2019-20 113 Merchants’ Chamber of Commerce & Industry

REPRESENTATIVES OF MCCI ON PUBLIC BODIES (2019-20) Public Bodies Representative

Steel Consumers’ Council President of the Chamber or his Nominee

Shri Munish Jhajharia, CESC Consultative Committee Chairman, MCCI Infrastructure & Real Estate (Jan. 2020 to Dec. 2021) Council and Director, Multiwyn Group

Shri Arun Kumar Agarwal, Regional Advisory Committee of Central Excise, Chairman, MCCI Council of Indirect Taxes & GST and Kolkata Director, ARS Management Consultancy Services Pvt. Ltd.

Zonal Railway Users’ Consultative Committee Shri Vishal Jhajharia, (ZRUCC), Eastern Railway, Kolkata Immediate Past President, MCCI and Director, (1.9.2018 – 31.8.2020) Multiwyn Group

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114 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry MEETINGS HELD DURING THE YEAR 2019-20 Sl. No. Meetings/ Seminars/ Conferences Date 1 Special Session on “Kazakhstan-India Investment Forum” with H.E. Mr. Bulat 05.04.2019 Sarsenbayev, Ambassador of Kazakhstan to India as Chief Guest. Other Speakers were : Mr. Marat Birimzhan, Deputy Chairman of the Management Board of National Company “KAZAKH INVEST”, Mr. Iskander Baitassov, Director of the Representative Office in China, Kazakhstan Sovereign Wealth Fund “SAMRUK-KAZYNA” JSC, Mr. Arun Kumar Garodia, National Vice Chairman, Engineering Export Promotion Council (EEPC) India and Mr. Sushil Patwari, Regional Chairman, Federation of Indian Export Organisations (FIEO), Eastern Region 2 8th MSME Help Desk at the Chamber 10.04.2019 3 Session on “Agriculture Export Policy : Opportunity for capturing overseas 10.04.2019 market through the new Agriculture Export Policy with Mr. A K Das, Jt. Secretary, Department of Agricultural Marketing, Govt. of West Bengal, Mr. Prem Narayan, Dy. Director, National Horticulture Board and Mr. Archiman Lahiri, Dy. Director, MPEDA 4 Special Session on ‘Graduate Insolvency Programme’ with Dr. M. S. Sahoo, 22.04.2019 Chairman, Insolvency & Bankruptcy Board of India (IBBI) as Chief Guest and Dr. Pyla Narayana Rao, Assistant Professor, School of Corporate Law, Indian Institute of Corporate Affairs (IICA). 5 Interactive Session of SME Knowledge Initiative on ‘FMCGas Driver of MSME 23.04.2019 Growth’with Shri P. M. Chandraiah, MD and Director Finance, Bengal Chemicals & Pharmaceuticals Ltd. and Dr. G. P. Sarkar, Founder Chairman, Allen Group. 6 A Special Session on “India - China Economic Ties : A Sub-National Perspective” 25.04.2019 with Mr. Zha Liyou, Consul General, The Consulate General of the Peoples’ Republic of China in Kolkata 7 3rd Workshop Series on ‘Performance Enhancement through Behavioural Change 27.04.2019 : Positive Thinking Critical for Success’ with Shri Sudip Sen, Licensee, Leadership Management International (LMI) and Shri Tushar Basu, Chairman, HRD Standing Committee, MCCI and Founder Director, Analytic Consultants HRD Services. 8 9th MCCI MSME Help Desk 08.05.2019 9 Interactive Session on ‘Corporate Challenges in the Age of Technological Disruption 17.05.2019 : Strategic Do’s and Dont’s’ with Shri Partha S. Ghosh, B-Tech (IIT, KGP), MS (MIT), MBA (MIT), AMP (Harvard), Ex- McKinsey (Senior Partner) and Internationally Famous Strategy Expert and Dr. Saikat Moitra, Vice Chancellor, Moulana Abul Kalam Azad University of Technology (formerly West Bengal University of Technology). 10 Meeting with H. E. Mr. Klas Molin, Ambassador of Sweden in India and Mr. Babi 20.05.2019 Nobis, Hony. Consul of Sweden in Kolkata. 11 4th Workshop Series on Performance Enhancement through Behavioural Change – 25.05.2019 Topic: Manage Time Effectively with Mr. G Jai Shankar, Trainer, Coach and Facilitator

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12 Interactive Session on “Critical Issues in GST Annual Return and Audit” with Mr. 25.05.2019 Khalid Aizaz Anwar, Sr. Joint Commissioner, Commercial Taxes, Govt. of West Bengal as Chief Guest. 13 “MSME Help Desk & Workshop” in collaboration with Confederation of Purba & 30.05.2019 Paschim Medinipur District Chambers of Commerce & Industry (DCCI) at Medinipur Town. 14 MCCI–MLF Forumon Women Achievers – “Showcasing Corporate Success Stories” 31.05.2019 with Ms. Patti Hoffman, Consul General of the USA in Kolkata as the Guest of Honour. 15 5th Workshop Series on Performance Enhancement through Behavioural Change 08.06.2019 and HR Initiatives– Topic : HR Analytics for Employee Satisfaction, Retention and Productivity Improvement with Mr. G Jai Shankar, Trainer, Coach and Facilitator 16 2nd edition of MCCI Fintech Forum 2019 – Fintech: “Digitally Disrupting the 12.06.2019 Financial World” at The Lalit Great Eastern, Kolkata. 17 ‘MCCI – MLF Forum’ on Women Achievers – “Showcasing Excellence in Fashion & 21.06.2019 Creativity” 18 6th Workshop Series on Performance Enhancement through Behavioural Change 22.06.2019 and HR Initiatives Topic: ‘Advanced HR Analytics for Employee Satisfaction, Retention and Productivity Improvement’ with Mr. Vishal Verma, Practising HR Professional 19 Special Sessionon ‘Trade & Bilateral Relations Between India & Germany’ with Dr. 24.06.2019 Michael Feiner, Consul General of Germany in Kolkata, Ms. Bandana Pokhriyal, IAS, OSD, Department of Industry, Commerce & Enterprises, Government of West Bengal 20 2nd edition of “MCCI East India Energy Forum 2019” : “The Evolving Energy 26.06.2019 Landscape”

21 10th MCCI MSME Help Desk 27.06.2019

22 Symposium on‘Union Budget 2019-20’ 06.07.2019

23 MCCI Business Delegation to Singapore and Indonesia n in collaboration with the 16.07.2019 Indian Embassy/High Commission and leading Chambers of Commerce & Industry to 19.07.2019 in Singapore and Jakarta.

24 Workshop on ‘Entrepreneurship Development’ : Enterprising the Bottom of the 25.07.2019 Pyramid through Innovation & Digitization’ with Shri Santanu Sengupta, a Fintech Executive and Innovation thought leader.

25 11th MCCI MSME Help Desk 25.07.2019

26 7th Workshop Series on Performance Enhancement through Behavioural Change 27.07.2019 : Topic - ‘Effective Communication’ with Mr. G.Jai Shankar, Trainer, Coach and Facilitator

116 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

27 Interactive Session on ‘Fire Safety Awareness & Business Sustainability’ with Shri 02.08.2019 Jag Mohan, IPS, Director General, West Bengal Fire & Emergency Services

28 3rd Workshop on Advanced Excel & PowerPoint with CA Sarita Agarwal, FCA, HoD, 03.08.2019 Overseas Department, Cloud Infosolutions (P) Ltd. and CA Vivek Agarwal, FCA, ACS, Partner, S K Agrawal & Co.

29 Interactive Session on “Macro Economic Transformation & Business Opportunities 17.08.2019 in Bangladesh” with Chief Guest : Dr. Atiur Rahman, Former Governor, Bangladesh Bank & Professor, Dhaka University and Guest of Honour : Mr. Toufique Hasan, Deputy High Commissioner, People’s Republic of Bangladesh in Kolkata

30 Special Session on ‘Social Justice & Empowerment in India : Progress made and 20.08.2019 Way Ahead’ with Shri Ramdas Athawale, Hon’ble Union Minister of State for Social Justice & Empowerment, Govt of India

31 ‘Awareness Programme : Taxpayers under GST ’jointly with Central Goods Service 23.08.2019 Tax & Central Excise Department with Shri Pandiyaraj G. V ., Asst. Commissioner, CGST & CX Commissionerate

32 12th MCCI MSME Help Desk 05.09.2019

33 MCCI Mutual Fund Forum 2019, “Indian Mutual Fund Industry-Coming of Age” 06.09.2019

34 Session on ‘New Growth Dimension of Kolkata Port – Challenges & Opportunities’ 18.09.2019 withShri Vinit Kumar , Chairman, Kolkata Port Trust

35 3rd Annual Conference “MCCI India Economic Forum 2019 “Emerging Market 20.09.2019 Economy to a $ 5 Trillion Economy: Journey ahead for India”

36 ‘MCCI – MLFForumon Women Achievers’ with Mr. Jagdeep Dhankhar, Hon’ble 23.09.2019 Governor of West Bengal as Chief Guest 37 3rd edition of “MCCI Destination Haldia Forum 2019” titled ‘Driving Growth : 24.09.2019 Taking the Leap Forward’ at Haldia with Shri Dibyendu Adhikari, Hon’ble Member of Parliament who addressed the Forum as the Chief Guest. Shri Shyamal Kumar Adak, Chairman, Haldia Municipality was the Guest of Honour. 38 ‘MCCI Education Forum 2019 ’titled “Indian Higher Education: Bridging the Skill 06.11.2019 Gap” with Shri Jagdeep Dhankhar, Hon’ble Governor of West Bengal as the Chief Guest 39 Interactive Session on ‘India Post: The Road Ahead’ with Shri Gautam Bhattacharya, 14.11.2019 Chief Postmaster General, West Bengal Circle

40 “MCCI Bengal Agri-Food & Allied Exporters’ Forum 2019” with Shri Rajesh Kumar 15.11.2019 Sinha, IAS, Secretary, Department of Agricultural Marketing & Agriculture, Govt. of West Bengal as Chief Guest.

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41 2nd Workshop on “Protection Against Cyber Crime :How to Secure Applications, 16.11.2019 Network & Data” at the Chamber. The Workshop was addressed by Shri Sandeep Sengupta, Cyber Audit Expert & CEO, Indian School of Anti Hacking (ISOAH) Data Securities Pvt. Ltd. 42 Special Session was organized by Chamber on ‘Doing Business with Kazakhstan’ 18.11.2019 with H. E. Mr. Yerlan Alimbayev, Ambassador Extraordinary & Plenipotentiary of Republic of Kazakhstan in India 43 ‘Vietnam’s Trade - Investment - Tourism Promotion Forum’ with H. E. Mr. Pham Sanh 22.11.2019 Chau, Ambassador of Vietnam in India and other dignitaries from Vietnam and India 44 MCCI in association with NCLT Kolkata Bar Association organised a Workshop on 27.11.2019 ‘The Insolvency Resolution & Bankruptcy for Individuals & Partnership Firms’ with Shri M. B. Gosavi, Hon’ble Judicial Member of NCLT, Kolkata Bench and Shri Harish Chander Suri, Hon’ble Technical Member of NCLT, Kolkata Bench 45 13th MCCI MSME Help Desk 28.11.2019 46 ‘Indo-German Business Round Table’ with Ms. Srita Heide, Founder/CEO, Srita 29.11.2019 Heide International and Member of the German Delegation to India and Mr. Marcus Heide, Managing Consultant, SritaHeide International 47 ‘MCCI Insurance Forum 2019’ titled “Indian Insurance Industry: Navigating the 18.12.2019 Changing Landscape” 48 ‘MCCI Logistics Forum 2019’ titled “Logistics Excellence for stronger Regional 23.12.2019 Trade” with Mr. Suresh Prabhu, Prime Minister’s Sherpa to the G20, Former Union Minister of Commerce & Industry, Railways and Civil Aviation as Chief Guest 49 118th Annual General Meeting of the Chamber 30.12.2019 50 Meeting with Lt. General (Retd.) Subrata Saha, PVSM, UYSM, YSM, VSM**, Former 10.01.2020 Dy. Chief of Army Staff and currently Member, National Security Advisory Board (NSAB), Government of India 51 MCCI Delegation met Shri Narendra Modi, Hon’ble Prime Minister of India 11.01.2020 52 Special Session & Interaction with Shri Anurag Singh Thakur, Hon’ble Minister of 16.01.2020 State for Finance & Corporate Affairs, Government of India with leading Chambers of Commerce & Associations in Kolkata 53 First Session of ‘Chai pe adda’ a Session on economic issues, chaired by Shri Amitav 20.01.2020 Kothari, Past President, MCCI. 54 14th MCCI MSME Help Desk 21.01.2020 55 Session on ‘Expectations & Challenges of Budget 2020’ with Dr.AlokPuranik, 28.01.2020 Associate Prof. of Commerce, Delhi University 56 Symposium on ‘Union Budget 2020-21’ 03.02.2020 57 Special Session on “India–Japan Partnership for Peace & Prosperity of the Indo– 04.02.2020 Pacific” with Mr. Taga Masayuki, Consul General, Consulate General of Japan in Kolkata

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58 Special Session on ‘Doing Business withPhilippines ’with H. E. Ramon S. Bagatsing, 07.02.2020 Jr., Ambassador of the Republicof the Philippines

59 Meeting with Smt. Nirmala Sitharaman, Hon’ble Union Minister & Corporate Affires 09.02.2020 of Finance at Oberoi Grand, Kolkata

60 Session with Smt. Bindu (Gayatri) Dalmia,Member, NITI Aayog and Chairperson 24.02.2020 for National Committee on Financial Inclusion & Financial Literacy, NITI Aayog on ‘Necessary Reforms for a USD 5 trillion economy by 2025’.

61 MCCI MSME–DI Workshop on MSMEs 25.02.2020

62 Special Session on ‘General Insurance Industry – Trends, Economics and Outlook 28.02.2020 for the future’ with Shri A. V. Girija Kumar , Chairman-cum-Managing Director, The Oriental Insurance Co. Ltd. 63 Session on ‘Science for People, Science for Future’ with Prof. Ashutosh Sharma, 05.03.2020 Secretary, Department of Science & Technology, Ministry of Science and Technology, Govt of India

64 Session on ‘Alternate Sources of Financing for MSMEs through Capital Market’ 06.03.2020 with NSE and Merchant Bankers

65 Special Session on ‘Doing Business with Nigeria’ with H.E. Major General Chris 07.03.2020 Sunday Eze (Rtd.), High Commissioner of the Federal Republic of Nigeria in India

66 Interactive Session on Settlement of Disputes as enunciated under the West Bengal 11.03.2020 Sales Tax (Settlement of Disputes Act.) 1999

67 Special Session on ‘Doing Business with Australia’ with Mr.Andrew Ford, Consul 13.03.2020 General of Australia in Kolkata

68 MCCI Durgapur–Asansol–Raniganj Forum 2020 titled “Driving Growth to the Next 14.03.2020 Level”

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Annual Report 2019-20 119 Merchants’ Chamber of Commerce & Industry 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

120 Annual Report 2019-20 Merchants’ Chamber of Commerce & Industry

Shri Arun Kumar Churiwal 1991-1992 * Shri Jay Prakash Tantia 1992-1993 Shri Suresh Jhunjhunwala 1993-1994 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 Shri Vishal Jhajharia 2018–19 * since deceased **********************

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