PHD CHAMBER BULLETIN Vol. XLII No. 9, 10,11 September - November - 2020 ` 25 Meeting With Mr. D V Sadananda Gowda, Hon’ble Minister for Chemicals & Fertilizers, PHD Chamber Bulletin | September - November 2020Government of India 1 2 PHD Chamber Bulletin | September - November 2020 PHD Chamber Bulletin | September - November 2020 3 4 PHD Chamber Bulletin | September - November 2020 CONTENTS Meeting With Hon’ble Minister For Industry, Health, PWD, Power, Home & Urban Development, Government Of NCT Of Delhi MONTHLY NEWS BULLETIN OF PHD CHAMBER President Mr. Sanjay Aggarwal CONTENTS Senior Vice President Mr. Pradeep Multani PRESIDENT’S MESSAGE 6 Vice President Mr. Saket Dalmia NEW LEADERSHIP 9 Editor: CHAMBER AT WORK 10 Mr. Saurabh Sanyal Secretary General FOCUS STATES 91 Production Editor: INTERFACE 110 Ms. Neelu Kapoor Economist & Bulletin Head EXPRESSION 112 India Inc. is the official publication of PHD Chamber of HEADWAY Commerce and Industry and any part of the publication may not be reproduced or transmitted in any other form in whole Towards Inclusive Growth 114 or in part without the written permission of the publishers. The opinions and views expressed within this publication are not necessarily those of the publishers. The publishers regret that COMMUNIQUE they cannot accept liability for errors or omissions in this issue. MoUs 127 For further information and feedback, please contact: PHD CHAMBER OF COMMERCE AND INDUSTRY New Members 130 PHD House, 4/2 Siri Institutional Area August Kranti Marg, New Delhi-110016 Phone : 91-11-26863801-04 Fax : 91-11-26855450 Media Buzz 131 Email : [email protected] Website : www.phdcci.in PHD Chamber Bulletin | September - November 2020 5 MESSAGE President’s MESSAGE Friends, It is with great pride and joy in my heart that I welcome you all to this new journey that we are embarking on together. It is my honor to be elected as the President of this prestigious organization which has been at the forefront of nation building for the past 115 years. The PHD Chamber has been providing crucial support to both Industry and the Government in their efforts towards socio-economic progress of the country. As President of the Chamber, I assure you that it shall be my highest priority to further streamline this partnership and infuse it with renewed energy. The year 2020 has been a challenging one for the world with the worst crisis in centuries. The COVID-19 pandemic ignited a socio-economic crisis that impacted billions of lives and livelihoods and undermined global stability and solidarity. Nonetheless, all countries came together and joined hands to combat the various pressing concerns with a main emphasis on strengthening public health systems worldwide. Having said this, we all are playing our part in eradicating the virus by measures such as physical distancing, wearing masks, hand hygiene, avoiding crowds and large social gatherings and ensuring good hygiene and ventilation. The Chamber would like to commend the Indian government and the RBI for undertaking proactive fiscal and monetary measures to safeguard its people, economy, trade and industry against the wild tide of the pandemic, showing remarkable resilience and strength of our economic systems. In India, COVID-19 is receding and people are engaging in economic activity. The total stimulus package announced by the Government over the past 7-8 months stands at around Rs. 30 lakh crores, a substantial sum showcasing the Government’s sincere intent to support the migrant labors, farmers, businesses and others. Further, PM Modi’s clarion call of “Aatm nirbhar Bharat,” (self-reliant India) a well-planned economic strategy that aims to make India into a global manufacturing powerhouse is note-worthy. This would be the opportunity to unlock India’s latent potential, so that our firms can serve not just domestic markets, but also global ones, using their immense human resources and skills. Mr. Sanjay Aggarwal 6 PHD Chamber Bulletin | September - November 2020 PRESIDEnt’S MESSAGE We appreciate the efforts of 49.8 in September to 54.1 in October focus should be on grassroots indigenous organizations to progress thus reversing a trend that began growth, infrastructure development the medical field and support healthcare eight months ago. While rural demand including health infrastructure and worldwide. Several Indian pharma held strong over the summer, urban administrative overhaul to facilitate and biotech companies are producing demand is catching up too. Education, ease of doing business. The World vaccines and drugs and emerging as technology, retail, grocery, fashion, Bank’s warning that by 2021 as many key players in global pharma supply food delivery and UPI payments did as 150 million people are likely to be chains. We have become the second extremely well. We also observe that in extreme poverty because of the largest manufacturer of PPE kits and home sales have risen to higher levels pandemic and countries will have to are manufacturing ventilators in quick than before the lockdown in key top prepare for a different economy post- time. ten cities. Covid by allowing capital, labour, skills, The recently launched production- We all are aware that India is at and innovation to move into new linked incentive schemes in many the cusp of a giant technology leap businesses and sectors. This highlights sectors are good incentives to attract and the youth are prepared to venture the need for increased investments foreign investors, as well as, make India onto the global stage in demonstrating in innovation and R&D, upskilling of their export hub. the capability for technology and the youth and projects related to climate change, environmental and Going further, the slowing of the innovation and competing with the rest energy sustainability, amongst others. virus in India has reinforced economic in the world. India has one of the largest In addition, boosting manufacturing recovery and the near-term outlook number of start-ups and unicorns in at competitive costs should be a key looks bright. The manufacturing the world and is still growing very fast. focus area for the Government in the purchasing managers index rose to 58.9 PHD Chamber launched the PHDCCI post-COVID-19 period, if India wants in October, the highest it has achieved digital platform (www.phdccics.in) to take advantage of the global supply in more than a decade, driven by robust for e-issuance of non-preferential chain disruptions and become a global sales and reopening of sectors. Stock certificate of origin in November 2020 manufacturing and exporting hub. markets are at all-time high. This year, through video conferencing. This despite the pandemic, India received e-platform will seamlessly assist COO’s The Chamber will continue to the highest ever FDI of $35.73 billion for to place of work from the comfort of promote ethical and global business April-August, 13% higher than the same their home, keeping them safe and practices and concentrate its policy period last year. Demand is slowly secure. advocacy role through its research coming back and green shoots are The increased spending on and outreach initiatives. I am of the being seen in sectors such as auto and infrastructure will give a multiplier effect view that calibrated and meaningful tractor sales with increase in fuel and to rejuvenate the aggregate demand measures will have a multiplier electricity consumption, also, railway in the economy. The government can effect on trade and industry and will freight traffic and sales of consumer use part of India’s high forex reserves stimulate consumer demand, boost durables such as TVs, ACs, refrigerators (USD 555 billion) for investment in capital expenditure and trigger a faster and phones. The manufacturing growth infrastructure development. Boost in recovery of the economy. is reflected in the first year-on-year public investments in infrastructure will Let us together as one big family rise in exports in seven months. E-way create demand for commodities such work with dedication for creating bills and GST collections growth have as steel, cement and power and in turn conditions for building “A New, also been healthy. The government boost private investments and create Inclusive & Prosperous India” and has steadily pushed labour reforms new employment opportunities in the achieving remarkable milestones to that have improved the confidence of country. come in the ranks of developed nations the industry. Having said this, sectors On the international front, the by 2030. Immediate focus needs to of hospitality, tourism, and aviation Chamber congratulates United States be put on vaccine development, to sectors would probably be impacted for President-elect, Joe Biden and Vice- achieve protection and suppress the some time, paving way for innovative President-elect Kamala Harris on their virus. Alongside, economic growth start-ups in the AR/VR tourism space to poll victory. It is well known that Indo- demands greater synergy between make a headway. U.S. relations are based on the principles all ecosystem partners. As India’s The recent agricultural reforms of democracy and we are positive that leading Women Business Head, and partnership with private capital under the new leadership of Biden- Kiran Mazumadar Shaw aptly puts it firms have opened up new exciting Harris, US-India ties will be further “Ultimately, the greatest lesson that possibilities for farmers, including strengthened in the global political COVID-19 can teach humanity is that partnership with large buyers such as order. We opine that under President we are all in this together”. I close by exporters and retailers. Given this, India Biden’s leadership, Indian Americans reiterating my enthusiasm to take our should soon emerge as an agriculture will be supported and encouraged, and Country to achieve greater Progress, export hub, with the help of technology policies will be put in place that address Harmony and Integrated Development and modern processing solutions.