BUILD INDIA INVEST in DEVELOPMENT a Shared Responsibility
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BUILD INDIA INVEST IN DEVELOPMENT A Shared Responsibility ANNUAL REPORT 2015-16 BUILD INDIA INVEST IN DEVELOPMENT A Shared Responsibility ANNUAL REPORT 2015-16 PRESIDENT’S REVIEW Looking Back This was the year that India was globally acknowledged as the world’s fastest growing large economy with 7.6% GDP growth rate, offering a plethora of new opportunities to the world. It was an exciting and challenging period for CII as the Government continued on an accelerated pace of reforms and new missions under the leadership of a dynamic Prime Minister. As the leading and premier apex Industry organisation of the country, CII was called upon to play an increasing role as partner of choice for Central Ministries as well as State Governments. Prime Minister Narendra Modi interacted with CII on several occasions, including an exclusive meeting in which many new ideas were discussed. With the theme of ‘Build India: Invest in Development, A Shared Responsibility’, CII took up new initiatives while intensifying existing ones. Our theme was consolidated into three buckets. 8nder the ½rst one, ‘Strengthening +uman Capacity’, CII built upon Tuality and excellence in +igher Education, while in Skill Development, we set up new Sector Skill Councils. Cleanliness and toilet construction were at the heart of our activities on Public +ealth and Sanitation. ProMect Muskaan for school infrastructure and a new initiative for corporate involvement in Anganwadis took forward activities under the Women and Child Development component. Manufacturing, Infrastructure, and Entrepreneurship stood as part of the bucket on ‘Investment for Shared Responsibilities.’ As investments remained subdued, we sustained the policy dialogue for a facilitative investment climate with concerned Ministries. In particular, CII Regional and State Of½ces partnered CII ANNUAL REVIEW 2015-16 | 3 with State Governments on industrial policies, it was heartening that these were highlighted during single-window clearances, and administrative the ½rst Make in India Week in Mumbai. processes. The progress on infrastructure is heartening and CII’s interventions on sectors such CII was the exclusive partner for the prestigious as Roads and +ighways, Power, Railways, and others Make in India Week, showcasing India’s were well taken. We have taken the lead on the manufacturing prowess to the world. We were Smart City initiative by setting up country consortia also privileged to participate in the high-pro½le and partnering with ½ve city Governments on +annover Messe in Germany, attended by the Prime programmes and proMects. Minister. All these events had strong international participation, and I also led a dozen delegations The launch of the prestigious mission Startup India, overseas while having the honour to interact with top Standup India as a way to promote entrepreneurship leaders visiting India to build on global connectivities gave a big push to CII’s continuous endeavours to for Indian Industry. The India-Africa Forum Summit make citi]ens Mob creators rather than Mob seekers. and The +orasis Meeting were two notable events for CII’s partnership with the Dalit Indian Chamber the year. of Commerce and Industry is also a step in this direction and takes forward our Af½rmative Action For me personally, it was a privilege and a matter of agenda. great pride to lead such an outstanding institution. CII’s gamut of activities has spread so much that Given the many new directions being taken in without an effective team, it would be impossible the economy, CII’s third bucket for the year to deliver effectively. I would like to thank the Past encompassed new sectors of engagement, Presidents for their wholehearted advice, guidance including Public-Private Partnerships, Financial and support. Naushad and Shobana helped in too Sector, Integration with the World, Clean Energy many ways to count and I am deeply grateful to them and the Knowledge Economy. Our comprehensive for taking up many areas of work. I would also like to suggestions on improving Public-Private thank the Regional Chairmen and Deputy Chairmen, Partnerships for infrastructure construction resulted and Chairmen of the National Committees and in welcome policy announcements on renegotiation Councils for their support during the year. ChandraMit of contracts, dispute resolution and exit criteria. and his team stood like a pillar with me. Each and every member contributes in making CII a partner The strong CII presence at the Paris Climate for national development and I extend my thanks to Change conference, COP21, underlined the need for all for an eventful and an enriching year. renewable sources of energy for sustainability. We continued to take up solutions to stressed assets of banks and our ½rst ever Banking Summit brought together many stakeholders on this challenge. Innovation, Intellectual Property Rights and Design SUMIT MAZUMDER are of critical importance to the nation’s future and President, CII (2015-16) PRESIDENT DESIGNATE’S REPORT Looking Ahead Macroeconomic conditions at the end of 2015-16 are certainly better than a year ago, and the ecosystem for growth acceleration seems to be ½rmly established. In¾ation is within reasonable limits, the ½scal de½cit is under control, and the interest rate regime appears set on a downward trend. CII’s policy interventions to boost investments were perhaps the most critical part of our agenda during the year as we presented detailed submissions on a range of macroeconomic and sectoral issues such as Ease of Doing Business, Budget 2016-17, Make in India, MSME, and so on. It is indeed heartening that many of CII’s submissions were aligned with Government policies. We are particularly happy that the task of building a stable, predictable and simple tax regime is being taken up with urgency. CII made recommendations on issues such as dispute resolution, transparency and tax administration apart from widening the tax base, many of which found mention in policy documents. Make in India is a cornerstone of national strategy for Mob creation in the Manufacturing sector. CII submitted inputs for various key sectors such as Capital Goods, Electronics System Design and Manufacturing, Defence Production, and so on which we believe will foster growth and generate employment. Defence procurement has huge potential for manufacturing and CII was included in the expert committee for policy changes. Technology and innovation are at the heart of the manufacturing endeavour, and our efforts in these two areas continued through the scholarship programme in higher education and our technology development centres. Agriculture is the backbone of the economy and must be ef½ciently connected with the Manufacturing CII ANNUAL REVIEW 2015-16 | 5 sector for optimal productivity. CII took up the issues rede½nition of limits, ½nancing, technology access, of food processing quality and safety as well as cold and entrepreneurship development. The Indian chain development. Agricultural exports can be a MSME Alliance (TIMA) is a new initiative to bring key foreign exchange earner for the country and related associations on a strong platform. bring higher incomes to our farmers, for which the enabling framework was taken up. With agriculture I was particularly proud of CII Foundation’s initiatives being a state subMect, suggestions for productivity as it set forth to action the ½rst year of the legal enhancement were made by our of½ces across the CSR mandate. Members stepped forward to assist country as well. with relief and rehabilitation during the Nepal earthquake and the Chennai ¾oods, bringing succour India’s vibrant Services sector contributes greatly to thousands. We also met the Government’s to the overall GDP and employment. To expand expectations of toilet construction in schools across India’s global footprint, including in sectors like the country. IT & Telecom, Tourism, and R&D, CII held the first ever Global Exhibition on Services to immense CII’s holistic, multidimensional portfolio of activities success. 8niversal +ealth Coverage is critical to reaches out to each and every Member as well India’s overall human capacity and a report with as other constituencies. I envisage an exciting comprehensive suggestions was shared with agenda for the coming year as we continue to meet Government. Retail, Media & Entertainment and expectations of all stakeholders. Tourism, along with others, remained on the CII agenda. In the Energy sector, CII contributed to the oil and gas exploration policy regime as well as policies NAUSHAD FORBES on coal auction and New and Contractual Fiscal President Designate, CII (2015-16) Regime. Our suggestions on the Draft Renewable Energy Act and the solar power sector were well received. The Roads and +ighways sector saw considerable progress during the year as issues in model concession agreements, exit policy and land acquisition were taken up. In the Railways sector, CII’s Task Force interacted with the Ministry for greater private sector participation. Given the global growth moderation, CII’s business development and competitiveness services remained a pillar of support for industry, especially the MSME sector. Advocacy in the MSME segment covered VICE PRESIDENT’S COMMENTS Reaching Out This year, CII marked 120 years since its inception in 1895. As a partner in development, CII reaches out to multiple stakeholders in a meaningful manner and adds value in every ½eld of its engagement. CII’s competitiveness solutions accord high importance to creating the right ecosystem