FKCCI | Mysore Commerce | October 2017

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Journal from FKCCI

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Federation Of Karnataka Chambers of Commerce and Industry, Bangalore

Volume XXXVIII

| October 2017 | Issue 10 | Rs 20

FKCCI FOUNDER’S DAY Sri Bharat Goenka, Managing Director & Co-Founder, Tally Solutions Pvt Ltd, was conferred with the prestigious Sir M Visvesvarya Memorial Award 2017 News-breakers:

Happy Deepavali

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CM launches Nava Karnataka Namma Karnataka 2025 Project FKCCI Showcases Karnataka at World Chambers Congress Opportunity for State’s Industry to tie-up with Dubai’s largest procurement agency

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K. Ravi

CONTENTS

President

Sudhakar S. Shetty Sr. Vice-President

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Events @ FKCCI

C.R. Janardhana Vice-President

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FKCCI Roadmap 2017-18

Special Feature

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Overseas Buzz

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Dubai Calling

GST Update

P. Radhakrishnan Secretary General

Federation of Karnataka Chambers of Comerce & Industry Federation House, K G Road Bangalore 560 009. Karnataka

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P H O N E 080 22262355/6/157

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F A X 080 22251826

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Contributor’s Column

FKCCI in Media

Immediate Past President

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Overseas Trade

Photo Gallery

M. C. Dinesh

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E - M A I L president@fkcci.in www.fkcci.org C I N U91110KA1938NPL000244

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From the President In First Person The Founder’s Day Celebrations at FKCCI was as always a nostalgic event for all of us and personally speaking, it was a great privilege to honour one of India’s most redoubtable industry doyens, Sri Bharat Goenka, the MD & Co-Founder of Tally Solutions, with the Sir MV Memorial Award 2017.

The good news for our Members is that Hon’ble Sri Ananth Kumar, Hon’ble Union Minister for Chemicals & Fertilizers and Parliamentary Affairs who graced our Founder’s Day Celebrations announced that the proposed Pharma Park and Plastics Park to be established near Bengaluru would have Common Facilitation Centres which will help to the manufacturing cost by around 30% and ensure our industries would be globally competitive.

FKCCI would also like to congratulate the launch of Nava Karnataka Vision 2025 Project by our Hon’ble Chief Minister, Sri Siddaramaiah which will set the roadmap for the next seven years in consultation with all stakeholders in every District. The Chief Minister’s innovative idea that “if we want to create a new Karnataka, then we should know what the people are thinking, what are the projects they want, their problems and solutions’ deserves to be fully supported and we at the FKCCI will also shortly convene workshops with representatives of Industry & Trade to articulate its views and present the same to the State Government.

Another landmark event was the 10th edition of the World Chambers Congress held at Sydney where I had the privilege of representing FKCCI and India with delegates from Karnataka.

The international grouping of Chambers, Government and Business leaders across wide ranging industries and sectors from over 100 countries provided an eclectic mix of exchange of ideas, brainstorming, and sharing of Best Practices and Next Practices.

I used the opportunity to interact with a cross-section of prospective entrepreneurs and potential investors giving them a bird’s eye-view of emerging opportunities in Karnataka in sectors like Energy, Health, Education and Agriculture. In my interaction with representatives of various Chambers, I also explored the possibilities of signing MoUs with them to strengthen business ties and networking with Industry & Trade in Karnataka, and I’am optimistic that my efforts will yield results since I pitched Karnataka as India’s number one destination for investments both domestically and globally.

Goodbye for now and here’s wishing you and your family a very happy Deepavali!

With warm regards

K. Ravi October 2017

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EVENTS @ FKCCI

Founder’s Day Bharat Goenka conferred with Sir MV Memorial Award 2017

FKCCI celebrated its Founder’s Day Celebrations with typical fervor and gaiety on September 15, the birthday of the Founder, Bharat Ratna Sir M. Visvesvaraya. The highlight of this year’s Founder’s Day Celebrations was that it was chaired

by Sri. Ananth Kumar, Hon’ble Union Minister for Chemicals & Fertilizers and Parliamentary Affairs and Sri Bharat Goenka, Managing Director & Co-Founder, Tally Solutions Pvt Ltd, who was conferred with the prestigious Sir M Visvesvarya Memorial Award 2017 by FKCCI. Sri K. Ravi, President and Office Bearers, Immediate Past President and Past Presidents presided over the event, with enthusiastic participation by a large number of MC Members, Members from the Federation and Tally and Special Invitees.

Welcoming the dignitaries and the participants, Sri K. Ravi, President, FKCCI acknowledged that the

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Chief Guest, Sri .Ananth Kumar, Hon’ble UnionMinister for Chemicals & Fertilizers and Parliamentary Affairs had been taking keen interest in developmentoriented infra projects in Karnataka and as a veteran MP from Bengaluru South, his involvement and engagementwithallthestakeholdersinthetransformation of Bengaluru was well known and recognized.

The FKCCI President added that he considered it a great privilege to present the Sir M Visvesvaraya Memorial Award 2017 to industry doyen Sri Bharat Goenka, Managing Director & Co-Founder, Tally Solutions Pvt Ltd, whose profound achievements enriched the Award itself.

Sri K. Ravi also paid rich tributes to Sir MV, India’s greatest visionary, engineering genius and statesman from Karnataka whose legendary clarion call to the country to ‘Industrialize or Perish!’ was relevant even today.

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Delivering the Sir M V Memorial Lecture, Sri. Ananth Kumar, Hon’ble Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said the Centre was working with the State Government to set up a Pharma Park and a Plastics Park near Bengaluru which would add another dimension to the status of Bengaluru, the world’s number one Dynamic City. He also informed that Common Facilitation Centres would be set up which would cut the manufacturing cost by around 30% and ensure our industries would be globally competitive.

Describing FKCCI’s Founder, Sir M Visvesvaraya as the Father of Make in India, he emphasized that the goal of Make in India was not only self-reliance, but also to be the chief supplier of goods and services to the world community. That was why the Central Government was giving so much importance to constantly improving the Ease of Doing Business.

Responding to the observations made by the FKCCI on glitches in GST implementation, and certain issues unique to the region, the Minister acknowledged that these were genuine concerns, and requested the FKCCI to do a thorough study of such issues and suggest how to improve the deliverables in a Memorandum which he assured to take it up for redressal at the highest level. “For this purpose, I am willing to provide you a platform with all the Chief Ministers and Finance Ministers of various States, and the related Union Ministers. I will also represent your cause with the Prime Minister,” Sri Ananth Kumar declared.

Stating how the Railways had expanded its footprint through MEMU and other suburban train services in

Bengaluru,theMinisteralsopromisedtoprovideaMumbai like local train service in Bengaluru in the next 5 years.

Stressing that trust was integral between industry advocates and the government, the Minister observed on a lighter note that “if you trust somebody, no proof is required; if you don’t trust, no proof is sufficient.”

Summing up, Sri Ananth Kumar declared that the 19th century belonged to Britain and the 20 century to the USA, but we should all come together in the next 5 years to ensure the 21st century belongs to India, and thus also realize Sir MV’s dream of seeing India as a superpower.

Pharma & Plastics Park to be set up near Bengaluru: Minister for Chemicals & Fertilizers Minister

Sir MV Memorial Award 2017 Sri Ananth Kumar, Hon’ble Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, FKCCI President, Office Bearers, Immediate Past President and Secretary-General presented the Bharat Ratna Sir M Visvesvaraya Memorial Award to Sri Bharat Goenka, Managing Director & Co Founder, Tally Solutions Pvt Ltd. Sri C.R. Janardhana, VicePresident read the Citation.

Replying to the felicitations, Sri Bharat Goenka said it was a great honour to receive an Award instituted in the name of Sir M Visvesvaraya, India’s foremost engineering genius and he would cherish this recognition by FKCCI more than anything else in his life. Stating that the FKCCI was sincerely carrying on the tradition and legacy of Sir M Visvesvaraya and following in its footsteps throughout its more than a century old history, he was sure that as one of the

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most proactive Chambers in the country, it would continue to inspire and lead the next industrial revolution in India.

Incidentally, under Sri Bharat Goenka’s leadership, Tally Solutions has risen to be a market leader in business management software in India and is making significant inroads in global markets as well. Today, the company provides innovative and easy to use business solutions to more than one million businesses in over 100 countries.

Sri Bharat Goenka is the Co-founder and Managing Director of Tally Solutions. Under his dynamic leadership, Tally has grown from an accounting package for small and medium businesses to a complete business software for all types and sizes of businesses.

A true technocrat, Sri Goenka since his early days has diligently pursued his dream of simplifying the lives of Indian business people.

He has pushed against all odds to create a definitive place for software product companies in the service-oriented age and laid the foundation of the country's largest software channel. The fact that 'accounting on computers' is featured in every related syllabus can also be credited to

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Sri Bharat Goenka, whose technological prowess and undying zeal have been the major contributing factors in strengthening Tally's culture of innovation.

Sri Bharat Goenka has always believed in and perpetuated the company's purpose "To make everyone who touches Tally Happier". His devotion to this purpose is clearly visible in the product that is simple to use yet continues to deliver path-breaking innovations. Not only has his vision touched his direct ecosystem of employees, partners and customers, but has affected the nation at large. In November 2011, NASSCOM honored Mr. Goenka with their first ever 'Lifetime Achievement Award' and the title of "The father of the Indian software product industry".

Sri D.R. Srikataiah, Past President, FKCCI (1999) was also felicitated by Sri Ananth Kumar, Hon’ble Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, President and Office Bearers for instituting the Sir M Visvesvaraya Memorial Award in the year 1999 and also extended birthday greetings to him.

The event concluded with a vote of thanks by Sri Sudhakar S. Shetty, Senior Vice-President, FKCCI.

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FKCCI Roadmap 2017-18 Press Meet

Digitization & Mobile App, GST Facilitation, Skill Development Institute… Expect More from FKCCI: President

Achieving Excellence in the Digital Economy: This will be the Theme for Year 2017-18 at FKCCI, Sri K. Ravi, President, announced at the Press Meet convened on September 11, In the backdrop of the Central Government’s major focus on digitizing India with emphasis on a less cash society, and enable Members to derive maximum benefits from the Centre’s various digital initiatives.

Tracing the glorious historic journey of FKCCI, Sri Ravi said the Federation has come a long way in carrying forward its Founder, Sir. M. Visvesvaraya’s vision of industrialization while playing a catalytic role in policy making as a crucial enabler between the government and businessmen, trade and industry; exchanging ideas, and providing inputs for policies with emphasis on promoting ease of business. With an array of distinguished businessmen and industrialists leading from the front, the Chamber sought to promote both national and state interests, involving the public and private sector, including scores of big and small businesses, and backed by its over 3,000 direct Members and more than 200,000 indirect Members drawn from all sectors of Trade, Commerce & industry, spread over Karnataka, including

26 District Chambers of Commerce and 135 Trade and Industry Associations.

Going forward, the President informed that FKCCI will concentrate on the following areas of strategic focus: GST Simulation & Facilitation Centres; Digitization - Digital Library; Centre of Excellence; Research Initiatives& Certification Courses; Skill Development Institute; Partnering with Government of Karnataka; Sir MV Award; World Chambers Congress, Sydney; and Corporate Social Responsibility.

Explaining the critical role played by FKCCI in handholding and mentoring Industry & Trade towards a smooth transition to GST, the FKCCI President noted that since the launch of the new law, several issues specifically related to exemptions, place of Supply, time of supply, Input Tax Credit, reverse charge mechanism, Workscontract,Transition Provisions, Anti-profiteering, Key provisions relating to administration, technology glitches, filing procedures, HSN code identification, etc. are being faced by the industry, while acknowledging that there are bound to be several teething problems in the implementation of a transformational indirect tax regime such as GST.”We are proud that over 200

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programs, seminars and workshops have already been organized in association with the Commercial Tax Department to help our Members transition to the new regime. We have also submitted a number of memorandums to the GST Council on behalf of various member associations and we are happy to inform our Members that a majority of them have been considered favorably. Further we have introduced Helpdesk facility to our Members and also released a GST Handbook on GST rates and we intend to release more such publications on GST in the future,” Sri K. Ravi said.

Sir MV Research Centre will be started where several position and research papers authored by renowned experts on cross-section of relevant and topical subjects will be released. The Centre will also support and complement the efforts of the government to reduce the parameters of Ease of Doing Business in the form of regular advocacy process highlighting the pain-points of the industry and help policymakers to tune in with the industry requirements.

GST Simulation & Facilitation Centres

Considering the increasing requirement for skilled labour, FKCCI has decided to set up a Skill Development Institute at Dobbaspet Industrial Area, for which 1.5 acres of land has been allotted by the KIADB for which FKCCI is grateful. The Skill Development Institute will support the following objectives: Skill development for ITI graduates; Exposure to real-life workplace situations; Exposure to latest trends in manufacturing/Innovation; Collaboration with international skill development partners in Germany & Switzerland; and host startups/incubators and provide mentoring and support for their growth.

Incidentally, FKCCI is also setting up GST Simulation & Facilitation Centres in all Districts of Karnataka in association with District Chambers of Commerce.

Any Member of the Chamber can visit the GST Simulation Centre and seek clarification on specific issues related to their line of business. They are open basically to accelerate the process of GST integration especially among the MSME players who are finding it difficult to understand and grasp the nuances of the new law. The Chamber has partnered with renowned technology companies and the tax department to guide Members in solving compliance issues.

Among other initiatives on the anvil include the following:

Digitization A Mobile App will be launched where all information related to its activities will be made available on the smart phones, apart from enhancing its Social Media footprint to provide info on calendar of events and all other activities in real-time, and webcasting of important Programs for the benefit of Members who are unable to attend and also upload important programs on the Federation’s Website.

A Digital Library will be set up for easy access to Members of various e-books, journals pertaining to trade and industry, in addition to digitizing all the records of FKCCI.

Centre of Business Excellence A Centre for Business Excellence will be set up at its state of-the-art new Centenary building which will basically focus on Training Programs/Skilling initiatives and conduct Certification Courses on Export documentation, Labor laws, Tourism, GST, etc in association with government agencies and professional bodies.

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Skill Development Institute

Partnering with GOK The Chamber will compile a compendium of “All Industrial Policies” announced by the State Government like Start-up, Food Processing, Industry, IT/BT Policies, which will serve as a single and onestop reference point for any Industry or investor, local and foreign, to establish its base in Karnataka. All available economic and social data on Karnataka will be available in one single portal covering different sectors, and this will be in addition to enabling access in one place to all government forms and documents that the industry needs to fill from time to time.

Sir MV Award As part of recognizing an Industrialist for the coveted Sir M Visvesvaraya Award for their extraordinary contribution to the trade and industry, FKCCI will honour on September 15, Sri Bharat Goenka, the Managing Director and Co-Founder of Tally Solutions Pvt. Ltd., one of India’s first and most successful software product companies, and renowned for Tally’s flagship software, Tally – ERP 9, the world’s first concurrent multilingual business accounting and inventory software.

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FKCCI @ World Chambers Congress, Sydney For the first time, FKCCI will be representing at the prestigious international Conference, the World Chambers Congress scheduled between September 19 and 21 at Sydney, Australia, a premier event of its kind bringing together Chambers, business and government representatives on a single platform to discuss issues related to trade and industry, and helping the participants to connect to international peers, exchange Best Practices, share knowledge and explore trade opportunities.

Corporate Social Responsibility As FKCCI engages intensely with society at large, its work spreads to aid Members in pursuing their social improvement aspirations, and will include the following: Conduct CSR Conference and institute CSR Awards with ONGC on Best CSR Practices Create active CSR Committee/Working Groups and work with Rotary and other NGOs as part of social initiatives

MC

Special Feature Vision 2025

CM launches Nava Karnataka Vision 2025 Project

FKCCI hails the announcement by the Chief Minister and offers full support to realizing the Vision 2025 Project, and will also shortly convene workshops with representatives of Industry & Trade to articulate its views and present the same to the State Government: K. Ravi, President

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September 26, 2017 promised a brighter and more prosperous future for Karnataka as Hon’ble Chief Minister Sri Siddaramaiah launched the Nava Karnataka Namma Karnataka 2025” Project to prepare a vision document to provide a governance strategy for Karnataka over the next seven years by taking into account the aspirations of the people and various stakeholders. The launch at the JW Marriott Hotel in Bengaluru witnessed high-profile participation from the State Cabinet Ministers, Chief Secretary, ACS, Commissioners, top officials of related Departments, and Team FKCCI led by President Sri K. Ravi, among other dignitaries.

The exercise will cover 13 sectors viz. agriculture and allied sectors, infrastructure, industrial development, services, education, employment and skill development, health and nutrition, rural development, social justice and empowerment, urban development, IT and BT, governance and law and order.

formulated through a participative and inclusive principle through broad-based consultations, meetings, seminars and workshops, incorporating both a ‘top-down’ and ‘bottom-up’ approach involving stakeholders from the urban and rural sectors, industry, academia, people’s representatives, voluntary sector, civil society, etc.

“People’s opinions and their suggestions on various sectors including rural development, agriculture, industrial development, employment will be collected by conducting consultation meetings, seminars and workshops across all 30 districts. We intend to capture the expectations of every stakeholder in the State’s development blueprint,” Sri Siddaramaiah said.

IAS Officer Smt. Renuka Chidambaram has been appointed as Chief Executive Officer for the Vision 2025 Project and top bureaucrats will also be involved in its implementation.

In his inaugural address, Hon’ble Chief Minister Sri Siddaramaiah said his Vision document will be

Welcoming the announcement, Sri K. Ravi, President, FKCCI said it was specially gratifying to note that the future roadmap will be created by consulting all stakeholders in every district in the next three months so as to get their opinion on problems and solutions and what they wish the focus should be on. “It is good that the vision document will be based

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on wide public consultations with various sectoral agencies and interest groups, as well as through social media apps and tools for idea generation across a wide cross-section of constituents,” Sri K. Ravi responded.

“I would like to commend the Chief Minister for this new kind of thinking. As he has emphasized if we want to create a new Karnataka, then we should know what the

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Nava Karnataka Vision 2025 Project Scope: The Vision Document is intended to provide a governance strategy for Karnataka over the next seven years. It shall endeavor to speak to every constituent and answer the question, “what’s in it for me?” which principle will drive its context and substance.

Timeline: The Vision Document Project will run for a period of five months and the Vision Document will be completed by December 31 as per a prescribed timeline.

Methodology: The Vision document will consider the views and felt needs of the following categories while finalizing the document:

people are thinking, what are the projects they want, their problems and solutions.”

The FKCCI President also offered full support to realizing the Vision 2025 Project and said the Federation will shortly convene workshops with representatives of Industry & Trade to articulate its views and present the same to the State Government.

To a query about employment generation, Sri R.V. Deshpande, Hon’ble Minister for Large & Medium Industries and Infrastructure said 12 lakh jobs have been created, adding that while the national average has been negative, Karnataka has been positive in job creation.

Life cycle categories (including students, youth, employment issues and pension matters) Demographic categories (Regional, Economic, Caste, Cultural etc) Sectoral categories (including the main segments of Agricultural and allied sectors, Rural Development, Infrastructure, Employment and Skilling, Industrial Development, Social Justice and Empowerment, Health and Nutrition, Education, Smart Cities, Information and Communications Technology, Governance.

Law and order etc) The broad parameters of the Methodology will be: Vertical Approach along with a spatial strategy Top Down and Bottom-Up Approach

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Credit Support for Raw Material Raw Materials Assistance Scheme NSIC facilitates MSMEs in their raw material requirement by making arrangements with bulk manufacturers for procuring the materials and supplying the same. Provides opportunity to purchase Raw Materials (Indigenous & Imported) in cash and earn discounts. Enters into MOU with bulk manufacturers on behalf of MSME, obtains large quantitative discount and supply the material to MSME through transit sale and passes entire quantitative discount enabling competitiveness. (Materials like Iron & Steel, Aluminium, Zinc, Copper, Cement, lead, paraffin, polymer, etc.). Any other products can be added..

Other Important Schemes Single Point Registration Scheme (SPRS): Registration with NSIC makes the MSE’s eligible for supply to Central/State Government Departments and PSE’s, Institutional supply etc. Benefits: 1) Tender Sets at free of cost 2) Waiver of Earnest Money Deposit up to Monetary Limit granted by NSIC, 3) Price preferences upto 15% over large industry.

Info Services/B2B Portal: Providing Information on domestic / lobal Business, Buyers, Tenders, Technology, joint ventures etc. Facility for web development, product hosting, WAP services, virtual exhibitions and lot more available.

Tender Marketing: Participation in Domestic / Global tenders on behalf of MSMEs and benefiting them by NSIC brand name. Finance also available against orders on need basis.

Performance & Credit for MSMEs: Provide subsidy upto 75% for rating of SSIs by Internationally reputed Agencies like CRISIL, ICRA, ONICRA, SMERA, Care, Fitch, D&B, Brickwork.

Tie-up with Banks: Finance up to any limit in the form of cash credit, bills, Lc / BG and term loan from 32 banks at competitive interest rates. Banks are State Bank of India, Vijaya Bank, Canara Bank, Corporation Bank, UBI, CBI, OBC, UCO banks, Yes Bank, Axis Bank, HDFC etc.

National SC-ST Hub: Ministry of MSME, GOI is operating Scheduled Castes/Scheduled Tribes (SC/ST) Hub through NSIC. Benefits to SC/ST Enterprises: Ÿ

100% Subsidy on NSIC Registration (SPRS), SC-ST Applicant unit has to pay only Rs. 100 plus GST (upto 31.03.2018)

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NSIC Provides 90% subsidy on the fees charged by the performance and credit rating agencies like CARE, CRISIL, Dun and Brad Street (D&B), FITCH, ICRA, ONICRA, SMERA, BRICKWORK, INDIA RATINGS.

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Under Marketing Assistance Scheme, SC/ST Entrepreneurs are provided a platform to display the products and services.

For Further Details/Clarification Please Contact:

M Sreevatsan - Sr. Branch Manager, Mob: +91-9444583173

National Small Industries Corporation Ltd., (A Govt. of India Enterprise), Under Ministry of MSME, Govt. of India No.25, 1st Main Road, KSSIDC Industrial Estate, 6th Block Rajajinagar, Bangalore-560010.

Tel: 080-23307791/23109059, Fax: 080-23386578, Toll Free No.: 18004251860 Email: nsicbangalore@gmail.com / boban@nsic.co.in

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Overseas Buzz At Sydney

FKCCI Showcases Karnataka at World Chambers Congress

The 10th World Chambers Congress at Sydney on September 19-21 proved true to the hype bringing together over 1,000 chamber and business leaders from nearly 100 countries including FKCCI represented

by Sri K. Ravi, President, and Delegates from Karnataka to brainstorm over some of the world’s most pressing challenges.

Sharing his experience on his participation, Sri K. Ravi, President, FKCCI said it was a great global platform to vibe with global captains of Industry & Trade, including industry titans from India like Sri K.K. Modi, President, Godfrey Philip.

“In my interaction with the participants, I showcased Karnataka as the number one destination for investments both domestically and globally in India, and the state capital, Bengaluru, as the World’s Number One Dynamic City and India’s Silicon City, offered numerous opportunities for growing business, especially in sectors like Health, Energy, Education, and Farming. Karnataka is home to one of the highest number of Engineering Colleges in the country and so is a powerhouse of engineering talent known for its creative enterprise, which is amply leveraged by a robust industry-friendly State policy,” the FKCCI President pitched before the participants.

“I also had fruitful exchange of views with representatives of various Chambers with whom I explored the possibilities of signing MoUs with them to strengthen

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business ties and networking with Industry & Trade in Karnataka. I assured them that the FKCCI will play the role of a facilitator and take care of all their interests and ensure their business collaboration in any form will be smooth and hassle-free.”

According to the FKCCI President, the World Chambers Congress 2017 held in the harbour city’s newest convention centre, the International Convention Centre Sydney, provided an unparalleled opportunity to connect and strengthen relations with a diverse and international group of businesses from more than 100 countries, with both formal and informal occasions to develop networks. The Congress provided a valuable and dynamic forum to facilitate the exchange of real-world ideas and best practices on both chamber and business activities.

The action-packed inaugural began with a royal welcome for all with His Royal Highness, the Prince of Wales addressing the participants in a recorded video message, saying: “It is increasingly encouraging to know that the mission of promoting responsible business is meeting with an ever more ready audience of active and enlightened business leaders.”

Prince Charles said: “I have never underestimated the importance of chambers of commerce…The support that the World Chambers offers …is invaluable and I know this sentiment is echoed by many other

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business networks that benefit from the Federation’s thought leadership.”

must recognise the need to connect globally and to embrace change.

Following formal acknowledgement of Australia’s indigenous peoples and cultures, the delegates were also welcomed in a traditional smoking ceremony, a cleansing ritual to ward off bad spirits, acknowledge ancestors and pay respect to the land and sea of the country.

“The challenge to chambers today is to keep pace with the changing world in which we function,” he said. “This entails embracing technological change, considering the changing face of entrepreneurialism, diversifying membership to include new and emerging sectors, and reflecting on the needs of companies to provide new and value adding services.”

Organized jointly by the ICC World Chambers Federation and Sydney Business Chamber, a Division of NSW Business Chamber, the World Chambers Congress is the only international forum for chamber leaders and professionals to share best-practices, exchange insights, develop networks, address the latest business issues affecting their communities and learn about new areas of innovation from chambers around the world.

Featuring renowned speakers from all over the word, the delegates benefited from first-hand knowledge and diverse perspectives on a broad number of pertinent topics during the event’s extensive threeday programme.

Another exciting feature of the World Chambers Congress was its extensive exhibition area which provided an exclusive occasion for exhibitors to meet with representatives from all facets of the business world.

Event Sidelights A pivotal and vital role for chambers to address global issues:NewSouthWalesPremierMs.GladysBerejiklian, who officially opened the Congress, said that in a time of rapid economic change and disruption, the role of chambers worldwide was more important than ever.

Looking to the future of chambers, World Chambers Federation Chair Mr. Peter Mihok said that chambers

Role of chambers in promoting global stability and peace: Business thrives in a stable environment. But how can small businesses with limited time and resources make a difference when it comes to peace-building efforts?

This was a question raised in the first plenary session of the Congress which focused on business, conflict and terrorism. Highlighting the detrimental economic effects of conflict on the global economy, session moderator Mr. Steve Killelea of the Institute for Economics and Peace highlighted the strong interplay between business, peace and economic development and urged chambers to be instrumental in communicating this relationship to governments.

Highlighting the importance of chambers as the active voice of small and medium-sized enterprises (SMEs), Ms. Sofia Patel, an analyst with the Australian Strategic Policy Institute said that civil society was more open to working with SMEs because of the perception that larger companies had an alternative agenda.

The concluding day of the World Chambers Congress featured plenary sessions on leadership, the world of tomorrow and the 4th industrial revolution as well as an entertainment-filled gala dinner and the announcement of the 2017 World Chambers Competition winners.

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Dubai Calling

Opportunity for State’s Industry to tie-up with Dubai’s largest procurement agency

FKCCI is happy and proud that the Dubai Electricity & Water Authority (DEWA), one of the largest procurement agencies of Dubai Government in the field of energy & water has shown keen interest to explore tie-ups with MSMEs in Karnataka, and we will extend our full support to make this partnership mutually beneficial and hassle-free, said Sri K. Ravi, President, FKCCI, at a B2B Meeting with DEWA and MSMEs on September 8 at FKCCI, chaired by Mr. Jawahar Ahamed Dawood Khan, Manager, Contracts Department, Dubai Electricity & Water Authority (DEWA), Dubai Government.

Presenting a brief scenario of the Micro, Small & Medium Enterprises (MSME), the FKCCI President cited statistics that show there are 36 million units providing employment to over 80 million persons or approximately close to 40% of India's workforce.

Despite their significant role in national development, the MSMEs operated in a difficult business environment and there was no clarity on their marketing objectives, vision, market share, diversification and

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long-term planning. Many firms are not aware of the government incentives available for marketing and technology transfer and they suffer from inadequate funding and the looming threat of being classified as Non-Performing Asset (NPA) by their lending bank.

Be that as it may, they continue to be resilient and are always on the lookout for emerging and new opportunities for growth, he said.

In his much awaited address, Mr. Jawahar Ahamed Dawood Khan, Manager, Contracts Department, Dubai Electricity & Water Authority (DEWA), Dubai Government began with a detailed presentation on water expo called WETEX 2017 and Dubai Solar Show 2017 which is scheduled from October 23-25 at Dubai.

Explaining the vendor registration process to supply products to Government of Dubai, he advised interested suppliers and manufacturers to first study DEWA’s requirements. All tender process and participation in procurement process was enabled online through their website www.dewa.gov.ac.

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Under the direct business, there was no provision for approved vendor in DEWA tenders and alternate offers would be accepted in fair and open tenders when received, he said. After opening the tender the successful bidder will get 20% of advance initially, after which the material supplied will be tested and if its performance is satisfactory, order will be placed for 100% supply which can even continue for several years.The vendor registration process with DEWA is

done within 48 hours at no cost and without any venture partner. Summing up, he said that quality is the most important and not the origin, and added that DEWA also provides business match-making to tie up with Dubai Companies for business ventures.

The interaction ended with a vote of thanks by Sri C.R. Janardhana, Vice-President, FKCCI.

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Overseas Trade

Canada explores strengthening of Bilateral Trade @ FKCCI

Expanding bilateral trade with India means expanding the benefits the recipient country receives from Indian exports, especially in the light of India’s large talent pool working in large R&D centers, and thus become leading contributors to global value chains, Sri K. Ravi, President, FKCCI, said, at an interactive session with H.E. Ms. Jennifer Daubeny,

Consul General of Canada, Mr. Eric Robinson, Senior Trade Commissioner and FKCCI Members held at FKCCI Cabinet Hall on September 11.

Presenting an overview of Karnataka, Sri Ravi pointed out that though traditionally the State was a major exporter of coffee, spices, silk, cashew, and handicrafts,

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the trend had changed over the last two decades, and today Karnataka ranked first in software/service exports and fourth in merchandise exports at the national level, and wasamajorplayerintheexportofelectronicandcomputer software, engineering goods, petrochemicals, gems and jewellery, minerals and ores, and marine products.

Pointing out another new trend where Indian businesses were now looking to invest abroad and exploring joint ventures and technology transfers to enhance their global competitiveness, the FKCCI President stressed that economic cooperation is an important pillar of all bilateral trade.

While acknowledging that Canada’s commercial relations with India are growing at a strong pace, he expressed optimism that there still remained significant potential and opportunities for further growth and collaboration between Canadian and Indian companies.

Addressing the participants, the Consul General of Canada, H.E. Ms. Jennifer Daubeny said Canada and India are committed to taking concrete measures to expand bilateral cooperation in key areas such as Economy, Trade and investment, Civil nuclear cooperation, Energy, Education and Skills development,

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Agriculture, Defence and security, Science and technology, Space , Culture, People-to-people ties, Regional and global issues.

There are strong opportunities for Canada-India commercial collaboration in areas of strategic importance to India including: Food commodities, value-added food, seafood products, Logistics, Resource products, Value-added technology products, Medical devices, Transportation goods and services, ICT Products, Sustainable Technologies, Financial Services, Engineering Services, Education and Skills Development Canada’s own approach to expanding the trade relationship with India centered on matching up Canada’s strengths to the policy areas on which India is focused; find ways to deliver on objectives such as Skill India, Digitize India, Smart Cities, expanding infrastructure, supporting energy and food security, developing clean and renewable energy sources in India; and consider the way forward for international trade agenda, including Comprehensive Economic Partnership Agreement (CEPA) and Foreign Investment Promotion and Protection Agreement (FIPA) negotiations with India.

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Ukraine Trade Delegation @ FKCCI

A delegation from Ukraine including Mr. Vadym Chaikovskyi, Mr. Sergy Lavrov and Mr. Gennadiy Bayev visited FKCCI to interact with select manufacturers of cattle feed, poultry feed and ingredients on September 15.

Welcoming the foreign delegates and the manufacturers, Sri K. Ravi, President, FKCCI offered all support and assistance to the interested investors, and assured that FKCCI will collaborate to facilitate their business. Expressing his wish to sign a MoU with the Ukraine Delegates for improved bilateral trade, he sought to know about any trade fair/exhibition being held in Ukraine during the next 3-4 months so that FKCCI can take a business delegation to Ukraine. The

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President also noted with happiness that Ukraine though a much smaller country was exporting its products to about 190 countries, mainly to Eastern European countries.

The delegates explained about their specialized products which makes cows sustainable, increases the yield of milk, and also the fat content of milk, and expressed their interest to export sunflower pallet and soya cake to India (Karnataka).

Earlier, Sri C.R. Janardhana, Vice-President, FKCCI introduced the delegates to the participants. The programme was moderated by Sri N. Satish, Chairman, Industry Committee and ended with vote of thanks by Sri Sudhakar S. Shetty, Senior Vice-President, FKCCI.

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German Engineering Federation (VDMA) keen to expand footprint in Karnataka

The FKCCI has been regularly hosting various Delegations from Germany and is extremely happy to associate with German Engineering Federation (VDMA) and act as a catalyst in future business collaboration endeavors, Sri K. Ravi, President, FKCCI, said playing a perfect host to the German Delegates at an Interactive Meet held to explore business opportunities with Germany at Cabinet Hall, FKCCI on September 6.

Pointing out that the FKCCI enjoys a long-standing working relationship with several overseas Chambers of Commerce which bonding has enabled it to work more closely in promoting business and trade opportunities between nations, he expressed the hope that the visiting senior officials from the VDMA, viz.

Mr. Ulrich Ackermann, MD, Foreign Trade, VDMA Germany, Mr. Oliver Wack, GM, South East Asia, VDMA Germany and Sri Rajesh Nath, MD, VDMA India, will explore Karnataka as their important and preferred business partner.

German investments in India which had been relatively flat for some time have registered an

increase in recent years with several renowned German companies stepping up their existing investments and many new companies foraying into the Indian market in the last three years, he noted, giving the examples of major German automobile giants such as BMW, Daimler, MAN AG, Audi, Volkswagen and Porsche and Machinery manufacturing units like Starrag who had established manufacturing facilities/assembly plants in India.

Summing up, the FKCCI President said it was a winwin situation for both the nations as there is ample scope for business synergies with opening of new and emerging opportunities from collaboration with German Machinery and Mechanical Engineering Verticals to Indian businesses.

Mr. Ulrich Ackermann, MD, Foreign Trade, VDMA, Mr. Oliver Wack, GM, South-East Asia, VDMA and Sri Rajesh Nath, MD, VDMA India took to the podium after an introduction by Sri C.R. Janardhana, VicePresident, FKCCI, and explained that the VDMA gives an opportunity to gain full overview of the various

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Photo Gallery

Inauguration of Nava Karnataka Vision 2025 Project

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FKCCI Founder’s Day

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industries within the German engineering sector and to build business contacts with German companies and form a global network.

Acknowledging that the Narendra Modi Government has created a better business environment in India and the Make in India program was also generating a new momentum for Indian economy, they said India’s tremendous pool of labour and talent makes it one of the most important and most promising markets for

future, and exuded confidence that the German industrial sector would seize the opportunities to bring its innovative products and smart solutions to the Indian market and thus contribute to the modernization and dynamic growth of the country’s economy.

After a lively interaction the meeting concluded with vote of thanks by Sri Sudhakar S. Shetty, Senior VicePresident, FKCCI.

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Events @ FKCCI

Billion $ Qn: Why Credit off-take lagging despite Banks flush with funds: FKCCI to SIDBI

It’s a billion-dollar question that is on the minds of every small entrepreneur and remains unanswered.

The question, Sri K. Ravi, President, FKCCI, posed was: Why is credit off-take still not taking off when Banks who are flush with funds, in the aftermath of Demonetization? At an Interaction Meet with Sri Anadi Charan Sahu, GM, SIDBI, Bangalore organized

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by FKCCI at Cabinet Hall on September 7, the FKCCI PresidentappealedtoSIDBItocometotheaidoftheMicro and Small Scale Enterprises in particular, and emphasized thatwiththerightkindofhandholdingandfinancialsupport, the MSME sector can significantly transform the existingflatgrowth witnessed in the economy,

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Voicing the dilemma of Industry & Trade in his opening remarks, Sri K. Ravi said industry captains were in a state of confusion as to whether they should go ahead and expand or wait for some more time for the anticipated rollout of more economy-boosting reforms to increase private investment and spur economic growth currently on a flag curve. The recently introduced big bang reform slike GST, Demonetization, De-globalization and global Protectionism had only added to the woes of the Indian industry, he opined and concluded that the only hope was in the potential for upscale growth in the MSMEs which could lift the economy upward. If the millions of small fledging businesses had to survive alongside the big giants they will need to remain in their business and for this the Government and all other stakeholders had to collectively ensure that the MSMEs are shown a clear vision, goal and career prospects in their future path which could also help to enhance their contribution to the national GDP. Addressing the participants, Chief Guest, Sri Anadi Chara Sahu, GM, SIDBI, Bengaluru observed that big industries have come up only with the support of MSMEs and that is why it is essential to support MSMEs for their financial requirements. The ground reality was that MSMEs faced funds crunch and lack of timely credit due to various procedural issues. In this context, SIDBI was financing MSMEs without insisting for any collateral securities. Further, SIDBI was taking a number of measures to help MSMEs obtain access to finance, technology and empowering them to become successful entrepreneurs.

SIDBI was also providing financial support to MSMEs by way of Indirect refinance to Banks/Financial Institutions for onward lending to MSMEs and direct finance in the niche areas like risk capital/equity, sustainable finance, receivable financing, service sector financing, etc.

The SIDBI GM listed recent initiatives taken by the Bank such as: SIDBI Make in India Loan for Enterprises [SMILE] Scheme to make available soft loan, in the nature of quasi-equity to meet the required debt-equity ratio and term loan on relatively soft terms for establishment of new MSMEs, as also for pursuing opportunities for growth for existing MSMEs India Aspiration Fund (IAF) to boost the start-up Venture Capital (VC) eco-system in the country which acts as a Fund of Funds managed by SIDBI and contributes to MSME focused VCFs

enabling them to raise private capital, thus enhancing the flow of equity to startups and growth stage MSMEs in the country SIDBI launched on-line platform www.sidbistartupmitra.in under the Start-up India programme of Govt. of India, which brings all the stakeholders onto this web portal and to meet the financing and other needs of the early stage and start-up enterprises In order to foster smooth implementation of ‘Stand-up India’ Scheme launched to provide bank loans between Rs 10 lakh and Rs 1 crore to at least one SC/ST and at least one woman borrower per bank branch for setting up a green-field enterprise SIDBI’s web portal ‘www.standupmitra.in’ acts as a loan market place for application filing and tracking as well as provides the facility for choice of branches/banks for credit assistance Another portal, www.udyamimitra.in offers various facilities viz. MUDRA loans up to Rs 10 lakh; access to 1.25 lakh bank branches and 17,000plus handholding agencies who assist in filing of applications, financial training, skill training, mentoring, access to margin money, subsidy, etc.

SIDBI Venture Capital Ltd. (SVCL) gives venture capital/private equity assistance, Micro Units Development & Refinance Agency (MUDRA) to fund the unfunded by way of providing access to institutional finance to the small business enterprises Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides collateral free/third-party guarantee free loans to micro and small enterprises (MSEs) SMERA Ratings Ltd. (SMERA) provides comprehensive ratings to MSMEs India SME Technology Services Limited (ISTSL) offers technology advisory and consultancy services SIDBI provides management & infrastructural support to National Credit Guarantee Trustee Company Ltd. (NCGTC) Promotes Youth Entrepreneurship by providing handholding guidance and information on how to set up new units and how to expand the existing ones MSME Advisory Services like guiding new/existing entrepreneurs regarding availability of credit from banks, government subsidies, debt counseling, apart from Capacity building of smaller banks like Regional Rural Banks (RRBs)/Urban Cooperative Banks (UCBs)/District Central Cooperative Banks (DCCBs) to purvey credit to micro enterprises.

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Sri C.R. Janardhana, Vice President, FKCCI interacted with the participants.

wages ceiling fixed by the Government. All these pose a question mark on the very survival of MSMEs.

Sri N. Nityananda, Chairman, Banking, Finance & Capital Markets, said interest on loan is quite high in India at 10-15% compared to other developed or developing countries where it is around 3%. Further, we are in danger of losing out the cost-effective advantage of cheap labour due to the high minimum

Proposing the vote of thanks, Sri S. Sudhakar S. Shetty, Sr. Vice-President, FKCCI, said FKCCI is willing to join hands with SIDBI in conducting prgorammes at district levels to brief the District Chamber Members on the new initiatives of SIDBI for business community, especially for MSMEs.

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Solar revolution is about going from where we are now to where we need to be: FKCCI Prez

Around three fourths of India’s energy consumption originates from fossil fuels based energy sources and requiredacoursecorrectionduetoenvironmentconcerns.

The roadmap ahead and the challenge before us today was to make the renewable energy technologies more convenient,efficient,safe,andaffordable,saidSri K.Ravi, President, FKCCI, addressing delegates at the Solar Rooftop India 2017 Seminar organized by Solar Quarter at Hotel Grand Magrath, Bengaluru on September 8.

“Energy consumption growth is faster in developing countries such as India which is witnessing a compounded commercial energy consumption growth

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per year, primarily to meet its aspirations for economic growth and increasing population,” he said, and lamented the fact that despite high energy growth electricity demand could not be met in full and millions of households lack access to electricity and especially in rural areas where over three-fourth of the people cook using traditional biomass. The environmental and sustainable issues linked with energy generation and consumption have led to renewed focus on access, health, climate and environmental protection, and also enhancing energy security with diversification and resilience of energy supply. In this context he emphasized that

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renewable energy has the potential to address the growing concern about indiscriminate use of fossil fuels and its implication for climate change.

Stating that a single hour’s sunlight could meet the entire world’s energy demands for an entire year, Sri Ravi observed that solar revolution can be the new game changer. “This revolution is about taking the world from where we are now to where we need to be by phasing out fossil fuels and cutting CO2 emissions while ensuring energy security,” he summed up.

The Solar Rooftop India 2017 Seminar, the largest B2C Event for Rooftop Solar in India focused on the latest technology advancements and improvements In Solar Rooftop Project and Business Strategies. The event offered a one-stop platform to discuss the policy framework while providing an unparalleled networking

opportunity for representatives from Installers, Consumers, Government authorities etc, and burnished with expert panel discussions and leading keynote presentations from the forerunners of Solar Rooftop Industry. A gist of the focus areas highlighted at the conference is given below Policies for Promoting Solar Rooftop in the State - Government Initiatives and Industry Perspective Financing & Implementing Issues: Discussing key Bottlenecks and driving factors for assessing further growth potential Overview of Net Metering Policy of the State and Challenges faced in its implementation Energy Storage and Grid Integration Technologies for Solar Rooftop Projects

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GST Update

‘TCS GSP can add value to filing process’

Despite the best of efforts on the part of the State and the Centre and Industry bodies like FKCCI, it is a fact that Industry & Trade continued to face integration bottlenecks as the new GST compliance laws and regulatory requirements were yet to be adequately understood by various stakeholders, Sri K. Ravi,

President, FKCCI, noted at the Workshop on GST Solutions for Compliance organized by FKCCI and Tata Consultancy Services (TCS) at FKCCI Cabinet Hall on September 12, even while appreciating the efforts by TCS in ensuring a smoother transition.

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Addressing the participants, Sri Ravi informed that the GST Council, in its 21st meeting held at Hyderabad on September 9 had decided to extend the due dates for filing GST returns. Further, a Committee consisting of officials from both the Centre and the States under the chairmanship of the Revenue Secretary would be set up to examine issues related to exports, apart from constituting a Group of Ministers to monitor and resolve the IT challenges faced during GST implementation.

The FKCCI President also welcomed the new e-WAY Bill System following the withdrawal of e-Sugam, and expressed the hope that it will enable hassle-free movement of goods throughout the country.

According to Sri I.S Prasad, Chairman, Central Taxes, Corporate Law Committee & Team GST, FKCCI, taxpayers are facing numerous problems with HSN Code and vendor profiles of all the dealers, and also the GST portal is not functioning properly. He cautioned that if the GST Council failed to address such issues properly and promptly, the very purpose of GST would be defeated.

Briefing the Members on GSTR1, GSTR2 and GSTR3, Sri Ajay Srivatsava, Principal Consultant,

GST Practice India, TCS, cautioned that if we make mistakes in filing returns, we may end up with paying tax for others. He informed that there are 34 GSP providers for GST, explaining that GSP is an entity appointed by the Central Government for facilitating in the returns filing and TCS will add value for filing process.

Sri Varun Elwadhi, Manufacturing & GST Consultant, TCS made detailed presentation about the functions of TCS GSP. Expressing his happiness at Karnataka being number one in compliance, Sri B.T. Manohar, Chairman, State Taxes Committee & Team GST, FKCCI, appealed to the GST Council to set right the systemic bottlenecks and only after that demand compliance, and requested the 34 Suvidha providers including TCS to represent to GST Council to make sure that GSTN functions properly.

Sri K.S. Basavaraju, Jt. Commissioner of Commercial Taxes (e-Aduit), GoK, Sri Shafeeq, Asst.Commissioner, Central Taxes, Sri Dev Narayanan, GST National Team Head, TCS responded to all queries of the participants during the panel discussion.

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FKCCI to submit Memorandum on Technical Glitches in GST Implementation: President

Industry & Trade are not getting into GSTN network due to various problems associated with the transition such as for example in the food industry visà-vis the confusion in the differentiation between branded and unbranded items, Sri K. Ravi, President, FKCCI observed, at the Seminar on GST Law and Procedures held at FKCCI Cabinet Hall on September 16. He requested Sri Naveen Kumar and Sri Deepak Kumar Jain to prepare a Memorandum on GST-related issues after convening a separate Session on technical glitches with GSTN experts, which would be submitted to the Union Government for redressal, as suggested

by Sri Ananth Kumar, Hon’ble Union Minister for Fertilizers, Chemicals & Parliamentary Affairs during the Founder’s Day celebrations.

Sri I.S. Prasad, Chairman, Central Taxes, Corporate Law & Team GST, FKCCI pointed out that two months after coming into effect, India’s new indirect tax has already begun making its rounds in the courtrooms with Tax professionals and corporate lawyers gearing up for a swathe of increased litigation, given the large influence that GST has on economic participants.

Sri K.S. Naveen Kumar, Vice Chairman, Central Taxes & Corporate Law Committee, FKCCI introduced Mr. B.S.V. Murthy

Delivering the keynote address, Sri B.S.V. Murthy, Technical Member (Retd), CESTAT, said that even though it is dual GST and the States enjoy powers to make any changes, by brining in the concept of recommendations of GST Council as a pre-requisite for any changes, uniformity in law, rates, exemptions, list of goods and services to be taxed is proposed to be achieved. On seamless credit, Sri Murthy said that it requires proper accounting system, ensuring that suppliers pay the tax and timelines are met in filing returns, reconciliation, and added that one may have to pay interest and penalty just for wrong availment of credit even if not used.

In the technical sessions, there were various presentations viz. Overview of GST and Transition Provisions by Sri C.R. Raghavendra, Advocate, and Sri B.D. Chandrashekar, CA; Concepts of supply, taxable event & levy, time and place of supply by CAs, Sri Deepak Kumar Jain and Sri M.S. Keshava; Reverse charge mechanism, forward charges and valuation by CAs, Sri Madhur Harlalka and Sri N.R. Badrinath; Input Tax Credit by CAs, Sri Hanish S Jain and Sri Sanjay Dhariwal; and Procedural aspects by Ms. Annapurna Srikanth, CA and Sri B.T. Manohar, Chairman, State Taxes Committee & Team GST, FKCCI.

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Filing of GST Returns in Form R1, R2, R3 Dr. Soumya Sunkad, ACCT, Sri J.J. Prakash, ACCT and Sri Sunil, IRS, Asst. Commissioner, Central Taxes, GOK chaired a Workshop on Filing of Returns under GST in Form R1, R2, R3 and payment of Tax for Accountants, organized by FKCCI on September 4.

Welcoming the experts, Sri B.T. Manohar, Chairman, State Taxes Committee & Team GST, FKCCI informed the Members not to wait till the last minute for submission of returns and payment of taxes mainly because of the pressure on servers and added that the Rules for e-Way bills has been given and so advised them to generate e-way bill for the transactions covered under e-way bill notification. Stating that the Accountant-Members of the Managing Committee should be clear on the taxation laws, rules and procedures to support the organization they represented, he requested the Members to forward their queries and present their references to the Helpdesk quoting their GSTIN number.

A detailed presentation on procedural aspects of filing GST R1, R2, R3 was given by Dr. Soumya Sunkad

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and Sri J.J. Prakash, ACCT and Sri Sunil, IRS, Assistant Commissioner, Central Taxes, GoK followed by an interaction.

Workshop on GST Update: Sri Pramod, Assistant Commissioner of Commercial Taxes, GOK gave a detailed presentation on returns filing at the GST Update Workshop on filing of returns held by FKCCI on September 25.

Addressing the participants, Sri B.T. Manohar, Chairman, State Taxes Committee & Team GST, FKCCI said the GSTIN should address complaints about not responding to complaints on time on priority and advised the Members to visit the websites www.cbec.gov.in, www.gst.kar.nic.in for day to day information on GST. He also also suggested that Members should forward their problems faced while filing the returns if possible with the screen shots to FKCCI for taking up the same with the Department.

Around 40 delegates participated in the Workshop.

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Industries Association Meeting on Small Factories Bill & Minimum Wages An Industries Association Meeting was convened by Sri P.C. Rao, Chairman, Labour Committee, FKCCI on September 18 for discussing issues related to Minimum Wages and introduction of Small Factories Bill in Parliament.

Sri C.R. Janardhana, Vice-President said all Associations should formally ask the FKCCI to take up the issue with New Delhi on their behalf, and hoped that the new Bill will mitigate the problem of Minimum Wages for small industry.

Sri Tallam Venkatesh, Past President, FKCCI, called for submitting a report on the Small Factories Bill to the Government by seeking the assistance of Sri Krishna of Laghu Udyog Bharati (LUB) and take it forward with the help of Sri Ananth Kumar, Hon’ble Minister for Chemicals & Fertilizers. He also strongly suggested that the FKCCI should take up the cause of MSMEs who gets little if anything from the Government, unlike for example the farm sector.

Sri N. Satish, Chairman, Industry Committee and Sri Sriprakash Malur called for time-bound response before the commencement of the Winter Session of Parliament in November.

Sri H.S. Sham Sundar suggested that experienced bureaucrats should be consulted for preparing a win-win report.

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J¥sïPɹ¹L £ÀUÀgÀzÀ°è §ÄzsÀªÁgÀ ºÀ«ÄäPÉÆArzÀÝ D¹Û vÉjUÉ PÀÄjvÀ ¸ÀAªÁzÀzÀ°è CªÀgÀÄ ªÀiÁvÀ£ÁrzÀgÀÄ. `PÉ®ªÀÅ ¸ÀܽÃAiÀÄ ¸ÀA¸ÉÜUÀ¼ÀÄ CªÉÊeÁÕ¤PÀªÁV vÉjUÉ «¢ü¸ÀÄwÛgÀĪÀÅzÀÄ UÀªÀÄ£ÀPÉÌ §A¢zÉ. CªÀÅUÀ¼À «gÀÄzÀÞ PÀæªÀÄ PÉÊUÆ É ¼® îÀ Ä PÁAiÄÉÝUÉ wzÄÀÝ¥r À vg À ¨ À ÃÉPÁUÄÀvz ÛÀ .É DUÀ ªiÀÁvæÀ CªÅÀU¼ À ÄÀ £ª À ÄÀä ºv À Æ É ÃnUÉ §gÄÀvª ÛÀ .É PÁAiÄÉÝ ¥PæÀÁgÀ Dq½ À vÀ £q À ¸ É ¨ À ÃÉPÁUÄÀvz ÛÀ .É ¸ÀܽÃAiÀÄ ¸ÀA¸ÉÜUÀ¼ÀÄ zÀħð®ªÁUÀzÀAvÉ, PÉÊUÁjPÉUÀ½UÀÆ ºÆ É gAÉiiÀÁUz À AÀv,É ¸ÀªÀÄ£ÀéAiÄÀ ¸Á¢¸ÀĪÀ jÃwAiÄÀ°è wzÄÀÝ¥r À Pg À q À ÄÀ ¹zÞÀ¥r À ¸ÄÀvÃÛɪ'É JAzÄÀ ¨g Às ª À ¸ À É ¤Ãrzg À ÄÀ. `©©JA¦ C£ÀĸÀj¸ÀÄwÛgÀĪÀ WÀlPÀ ¥ÀæzÉñÀzÀ ªÀiË®å vÉjUÉ ªÀåªÀ¸ÉÜAiÀÄ£ÀÄß J¯Áè PÀqÉUÀ½UÀÆ C£ÀéAiÀÄ ªÀiÁqÀĪÀAvÉ J¥sïPɹ¹L ¸ÀzÀ¸ÀågÀÄ ªÀÄ£À« ¸À°è¹zÁÝgÉ. CzÀgÀ dvÉUÉ, ¨ÉÃgÉ £ÀUÀgÀUÀ¼À°è AiÀiÁªÀ jÃw vÉjUÉ ªÀåªÀ¸ÉÜ EzÉ J£ÀÄߪÀÅzÀ£ÀÆß CzsÀåAiÀÄ£À £Àqɹ,

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GvÀÛªÀĪÁzÀ vj É UÉ ¥z À ÞÀw eÁjUÆ É ½¸® À Ä ¥ÀæAiÀÄw߸ÀÄvÃÛɪ'É JAzg À ÄÀ. `PÉLJr© ªÁå¦ÛUÉ §gÀĪÀ ¥ÀæzÉñÀPÉÌ ¥ÀAZÁ¬ÄwAiÀĪÀgÀÄ vÉjUÉ ªÀ¸ÀÆ° ªÀiÁqÀĪÀAw®è. F §UÉÎ ¸Àà¶ÖÃPÀgÀt PÉüÀ®Ä CxÀªÁ ¸ÀA§AzsÀ¥ÀlÖªÀgÀÄ zÀÆgÀÄ ¤ÃrzÀÝgÉ CzÀ£ÀÄß §UɺÀj¸À®Ä J¯Áè f¯Áè¢üPÁjUÀ½UÀÆ ¸ÀÆZÀ£É ¤ÃqÀÄvÉÛãÉ' JAzÀgÀÄ.

J¥sïPɹ¹L »jAiÀÄ G¥ÁzsÀåPÀë ¸ÀÄzsÁPÀgï ±ÉnÖ, `gÁdåzÀ°è JAlÄ PÉÊUÁjPÁ mˣﲥïUÀ¼À£ÀÄß ¸Áܦ¸À¯ÁUÀĪÀÅzÀÄ JAzÀÄ §eÉmï£À°è WÉÆö¸À¯ÁVvÀÄÛ. DzÀgÉ, FªÀgÉUÉ MAzÀÆ mË£ï²¥ï ¤ªÀiÁðtªÁV®è. ²ÃWÀæ CzÀ£ÀÄß PÁAiÀÄðUÀvÀUÉƽ¸À¨ÉÃPÀÄ' JAzÀÄ MvÁ۬ĹzÀgÀÄ. `d£À¸ÀASÉå DzsÁgÀzÀ ªÉÄÃ¯É JgÀqÀÄ ªÀÄvÀÄÛ ªÀÄÆgÀ£Éà ºÀAvÀzÀ £ÀUÀgÀUÀ¼À£ÀÄß ªÀ®AiÀÄ DzsÁjvÀªÁV «¨sÁV¸À¨ÉÃPÀÄ. CzÀgÀ C£ÀéAiÀĪÉà vÉjUÉUÀ¼À£ÀÄß «¢ü¸À¨ÉÃPÀÄ. PÉÊUÁjPÁ ¥ÀæzÉñÀUÀ¼À°è GvÀÛªÀÄ ªÀÄÆ®-¸ËPÀAiÀÄð«®è ºÁUÀÆ gÁdåzÀ°è ºÀÆrPÉ ªÀiÁqÀÄwÛgÀĪÀ zÉÆqÀØ PÉÊUÁjPÉUÀ¼ÀÄ ¸ÀܽÃAiÀÄjUÉ GzÉÆåÃUÀ ¤ÃqÀÄwÛ®è. F «µÀAiÀÄUÀ¼À §UÉÎAiÀÄÆ ¸ÀaªÀgÀÄ UÀªÀÄ£ÀºÀj¸À¨ÉÃPÀÄ' JAzÀÄ J¥sïPɹ¹L ¸ÀzÀ¸ÀågÀÄ ªÀÄ£À« ªÀiÁrzÀgÀÄ.

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¸ÀtÚ, Cw ¸ÀtÚ ªÀÄ»¼Á GzÀå«ÄUÀ¼À£ÀÄß ªÀÄÄ£É߯ÉUÉ vÀgÀ®Ä DzsÀåvÉ JazÀ ¸ÀaªÀ ¸ÀAvÉÆÃµï ¯Áqï ªÀÄ»¼Á GzÀå«ÄUÀ½UÁV ¥ÉÆæÃvÁìºÀ PÉÃAzÀæ ªÀÄ»¼AÉiÄÀgÄÀ GzåÀªÄÀ PÃëÉvz æÀ ° À è vÆ É qV À ¹PÆ É ¼® îÀ Ä CUv À åÀ ªiÀÁ»w eÆ É vU É É ¥ÉÆÃævÁº ì À ¤Ãq® À Ä ª® À AiÄÀªÁgÄÀ PÃÉAzU æÀ ¼ À £ À ÄÀß DgAÀ©¸ ü ÄÀªÀ §UÎÉ aAw¸¯ À ÁUÄÀªÅÀzÄÀ JAzÄÀ ¸a À ªÀ ¸AÀvÆ É Ãµï ¯Áqï ºÃɽzg À ÄÀ.

EªÄÀeïð ¸AÀ¸ÜÉAiÄÀÄ £U À g À z À À J¥ïsP¹ É ¹L ¸¨ À ÁsAUt À z° À è UÄÀgÄÀªÁgÀ º« À ÄäPÆ É ArzÝÀ ‘WÆ É ÃfðAUï °APï,ì ¯ª É g À ÃÉfAUï £m É ï ªPÀïð ì jÃaAUï eËmï-2017’ PÁAiÄÀðPª æÀ ÄÀz° À è ªiÀÁv£ À ÁrzÀ Cªg À ÄÀ, UÁ« æ ÄÃt ¥z æÀ ÃɱU À ¼ À ° À è ªÄÀ»¼AÉiÄÀgÄÀ Cw ¸t À ,Ú ¸t À Ú GzåÀªÄÀU¼ À ° À è vÆ É qV À ¹PÆ É ArzÝÀgÆ À ¸AÀWn À vg À ÁV®.è E£Æ É ßAzq É É Cªg À ÄÀ GvÁ¢ à ¸ÄÀªÀ ª¸ À ÄÀU Û ½ À UÉ ¸Æ À PÛÀ ªiÀÁgÄÀPm À ÖÉ ªåÀª¸ À ÜÉ P° À ¸ à ÄÀªÅÀzÄÀ §º¼ À À ªÄÀÄRå. UÁ« æ ÄÃt ¥z æÀ Ãɱz À ¯ À ÃèÉ GzÆ É åÃUÁªPÀÁ±À P° À ¸ à ÄÀªÅÀzÄÀ zÃɱPÀÌÉ CvÄÀå£ßÀvÀ PÆ É qÄÀUÉ ¤ÃrzAÀvÉ JAzÄÀ ºÃɽzg À ÄÀ.

Cw ºÉZÀÄÑ ªÀÄ»¼Á GzÀå«ÄUÀ½gÀĪÀ gÁdåUÀ¼À ¥ÉÊQ PÀ£ÁðlPÀ zÉñÀzÀ¯Éèà ªÀÄÆgÀ£Éà ¸ÁÜ£ÀzÀ°èzÀÝgÉ, Cw ºÉZÀÄÑ ªÀÄ»¼Á GzÀå«ÄU½ À gÄÀªÀ £U À g À U À ¼ À À ¥ÊÉQ ¨AÉU¼ À Æ À gÄÀ zÃɱz À ¯ À ÃèÉ ¥ÀæxÀªÀÄ

¸ÁÜ£z À ° À g è ÄÀªÅÀzÄÀ ºÉªÉÄäAiÀÄ ¸AÀUw À . ªÁå¥Ág-ÀGzåÀªÄÀ £q À ɸÀĪÀÅzÄÀ ¸ÀÄ®¨sÀªÀ®è. ¸ÉÆîÄUÀ½AzÀ «ZÀ°vÀgÁUÀzÉ ºÉƸÀ «ZÁgÀ PÀ°vÀÄ PÁAiÀÄð¥ÀæªÀÈvÀÛgÁzÀgÉ AiÀıÀ¸ÀÄì UÀ½¸À§ºÀÄzÁVzÉ. ªÀÄ»¼Á GzÀå«ÄUÀ¼É¯Áè ¸ÀAWÀnvÀgÁV ¸ÀºÀPÁgÀ ¸ÀAWÀªÀ£ÀÄß gÀa¹PÉÆAqÀgÉ E£ÀßµÀÄÖ AiÀıÀ¹éAiÀiÁV GzÀåªÀÄ £ÀqɸÀ®Ä ºÁUÀÆ EvÀgÉ ªÀ Ä »¼É A iÀ Ä gÀ Ä GzÀåªÀÄ PÉ ë à vÀ æ z À ° è vÉ Æ qÀ V ¹PÉ Æ ¼À î ® Ä C£ÀÄPÀÆ®ªÁUÀ§ºÀÄzÀÄ. F ¤nÖ£À°è ¸ÀA¸ÉÜ aAvÀ¸À¨ÉÃPÀÄ JAzÀÄ J¥sïPɹ¹L CzsÀåPÀë PÉ.gÀ« C©ü¥ÁæAiÀÄ¥ÀlÖgÀÄ.

PÁAiÀÄðPÀæªÀÄzÀ°è PÀ£ÁðlPÀ ¸ÀPÁðgÀzÀ PÁ«ÄðPÀ ¸ÀaªÀgÁzÀ ²æÃ.¸ÀAvÉÆÃµï ¯Áqï, ºÉZÀÄѪÀj ªÀÄÄRå PÁAiÀÄðzÀ²ð ²æêÀÄw PÉ.gÀvÀߥÀæ¨sÀ, J¥sïPɹ¹L CzsÀåPÀë PÉ.gÀ«, EªÀÄeïð ¸ÀA¸ÁÜ¥ÀPÀ CzsÀåPÉë, GªÀiÁgÉrØ, EAmÉ¯ï ¸ÀA¸ÉÜAiÀÄ »jAiÀÄ ªÀiÁå£ÉÃdgï UËj±ÀAPÀgï, EªÀÄeïð CzsÀåPÉë Dgï.gÁd®Qëöä, PÁAiÀÄðzÀ²ð qÁ.¸ÀÄ«ÄvÁ £ÁAiÀÄPï G¥À¹ÜvÀjzÀÝgÀÄ.

Sri Santosh S. Lad, Hon’ble Minister for Labour & Skill Development, GOK and Sri K. Ravi, President, FKCCI at the Release of the Souvenir on ‘Forging Links, Leveraging Networks, Reaching out 2017’, a Business Convention for Entrepreneurial Women organized by eMerg, Bengaluru

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FKCCI SIR M V AUDITORIUM We have Auditoriums, Conference rooms, Training rooms and Meeting rooms with huge areas which could be occupied by a large number of participants during events, training, conference or seminar.Our building is prominently located in the historic heart of the city which makes it easy for participants and facilitators to travel/stay as there are several lodging facilities in the vicinity and the city bus & railway station is just five minutes away from our venue.

Infrastructure - Capacity Details - Second Floor Sl. No.

DESCRIPTION

CAPACITY

FLOOR AREA

FACILITY

1

Training Room

90 seats

1446 sq.ft.

Motorised Projector, DVD Player, White Board & Fully Air-conditioned

2

Meeting Room

32 seats

607 sq.ft.

Motorised Projector, DVD Player, White Board& Fully Air-conditioned

3

Meeting Room

12 seats

365 sq.ft.

Motorised Projector, White Board & Fully Air-conditioned

4

Auditorium

310 seats

3826 sq.ft.

Motorised Projector, Recording facility & Fully Air-conditioned

Infrastructure - Capacity Details - Third Floor Sl. No. DESCRIPTION

CAPACITY

FLOOR AREA

FACILITY

1

Training Room

88 seats

1480 sq.ft.

Motorised Projector, DVD Player, White Board & Fully Air-conditioned

2

Meeting Room

70 seats

1358 sq.ft.

Motorised Projector, DVD Player, White Board & Fully Air-conditioned

3

Meeting Room

7 seats

169 sq.ft.

Fully Air-conditioned

4

Meeting Room

12 seats

365 sq.ft.

Video Conferencing, Motorised Projector, White Board & Fully Air-conditioned

5

Meeting Room

69 seats

1067 sq.ft.

Motorised Projector, DVD Player, White Board & Fully Air-conditioned

For more information & bookings please contact

PÀ£ÁðlPÀ ªÁtÂdå ªÀÄvÀÄÛ PÉÊUÁjPÁ ¸ÀA¸ÉÜ FEDERATION OF KARNATAKA CHAMBERS OF COMMERCE & INDUSTRY Federation House, K.G. Road, Bengaluru – 560 009 Mobile: + 91 9448088383, E-mail: secretary@fkcci.in

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Issue 10

‘vÉjUÉ ¸ÀªÀĸÉåUÉ fJ¸ïn ªÀÄAqÀ½ ¸ÀA¥ÀQð¹’

ºÀ¼Éà vÉjUÉ ¤AiÀĪÀÄ ¥Á°¹zÀgÉ PÀA¥À¤ £ÀqɸÀĪÀÅzÀÄ PÀµÀÖ: ªÀvÀðPÀgÀÄ, GzÀå«ÄUÀ½UÉ J¥sïPɹ¹L CzsÀåPÀë PÉ.gÀ« JZÀÑjPÉ fJ¸ïn eÁj¬ÄAzÀ ªÀÄzsÀåªÀÄ ªÁå¥ÁgÀ¸ÀÜjUÉ vÉÆAzÀgÉ DVgÀ§ºÀÄzÀÄ. DzÀgÉ fJ¸ïnUÉ ºÉÆA¢PÉƼÀÄîªÀÅzÀÄ C¤ªÁAiÀÄð. K£Éà ¸ÀªÀĸÉåUÀ½zÀÝgÀÆ fJ¸ïn ªÀÄAqÀ½UÉ ªÀÄ£À« ¸À°è¸À§ºÀÄzÀÄ JAzÀÄ PÀ£ÁðlPÀ ªÁtÂdå ªÀÄvÀÄÛ PÉÊUÁjPÉ ªÀĺÁ¸ÀA¸ÉÜAiÀÄ CzsÀåPÀë PÉ. gÀ« ºÉýzÀgÀÄ. ºÁ¸À£À f¯ÉèAiÀÄ ªÀĺÁ«ÃgÀ ¨sÀªÀ£ÀzÀ°è K¥Àðr¹zÀÝ f¯Áè ªÁtÂdå ªÀÄvÀÄÛ PÉÊUÁjPÁ ªÀÄAqÀ½AiÀÄ ¥ÀzÁ¢üPÁjUÀ¼À ¥ÀzÀUÀæºÀt ºÁUÀÆ fJ¸ïn PÀÄjvÀ PÁAiÀiÁðUÁgÀzÀ°è ªÀiÁvÀ£ÁrzÀgÀÄ.

PÉÊUÁjPÉÆÃzÀå«ÄUÀ¼ÀÄ EA¢£À PÁ®WÀlÖPÉÌ vÀPÀÌAvÉ §zÀ¯ÁzÀgÉ ªÀiÁvÀæ ºÉÆA¢PÉÆAqÀÄ ºÉÆgÀ vÉjUÉ ¥ÀzÀÞwUÉ ºÉÆÃUÀ®Ä ¸ÁzsÀåªÁUÀÄvÀÛzÉ. ºÉÆgÀ gÁµÀÖçzÀ°è £ÀqÉAiÀÄĪÀ ªÀåªÀºÁgÀUÀ¼À §UÉÎ w½zÀÄPÉƼÀî¨ÉÃPÁzÀgÉ ªÀiÁzsÀåªÀÄUÀ¼À£ÀÄß §¼À¸À¨ÉÃPÀÄ. J¯Áè PÀA¥À¤UÀ¼ÀÄ fJ¸ïn ¸ÉÖöÊ°AUï ªÀiÁrPÉƼÀî¨ÉÃPÀÄ. PÀA¥À¤UÀ¼ÀÄ ºÀ¼Éà vÉjUÉ ¤AiÀĪÀÄUÀ¼À£ÀÄß ¥Á°¹zÀgÉ PÀA¥À¤ £ÀqɸÀ®Ä ¸ÁzsÀåªÁUÀĪÀÅ¢®è. ¯ÉPÀÌ ¥ÀvÀæUÀ¼À ªÀåªÀºÁgÀªÀ£ÀÄß £ÉÆÃrPÉƼÀî®Ä C£ÀĨsÀ« AiÀÄĪÀPÀgÉà ¹UÀÄwÛ®è JAzÀÄ DvÀAPÀ ªÀåPÀÛ¥Àr¹zÀgÀÄ.

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October 2017

¸ÀºÀPÁgÀ ªÀÈ¢Þ¹ ¸ÀªÀĸÀÛ ªÀvÀðPÀgÀÄ ºÁUÀÆ PÉÊUÁjPÉÆÃzÀå«ÄUÀ¼ÀÄ ªÀÄvÀÄÛ ºÀtPÁ¸ÀÄ ªÀ»ªÁlÄUÁgÀgÀ £ÀqÀÄªÉ ¥ÀgÀ¸ÀàgÀ ¸ÀºÀPÁgÀ ªÀÄ£ÉÆèsÁªÀ ¨É¼É¸ÀĪÀÅzÀÄ ¸ÀªÀÄÆ»PÀ ¥ÀæAiÀÄvÀߢAzÀ J®ègÀ »vÁ¸ÀQÛAiÀÄ£ÀÄß PÁ¥ÁqÀĪÀÅzÀÄ J¯Áè ªÁå¥ÁjUÀ¼À£ÀÄß ºÁUÀÆ PÉÊUÁjPÉÆÃzÀå«ÄUÀ¼À£ÀÄß GvÉÛÃf¸ÀĪÀÅzÀÄ ªÁtÂdå ªÀÄvÀÄÛ PÉÊUÁjPÁ ªÀÄAqÀ½AiÀÄ PÉ®¸À JAzÀÆ ºÉýzÀgÀÄ.

F ¸ÀªÀiÁgÀA¨sÀzÀ°è f¯Áè ªÁtÂdå ªÀÄvÀÄÛ PÉÊUÁjPÁ ªÀÄAqÀ½UÉ 2017-18 ªÀÄvÀÄÛ 2018-19£Éà ¸Á°UÁV DAiÉÄÌAiÀiÁVgÀĪÀ £ÀÆvÀ£À ¥ÀzÁ¢üPÁjU¼ À À ¥z À U À º æÀ t À PÁAiÄÀðPª æÀ ÄÀ £g É ª À ÃÉjvÄÀ. ºÆ É ¸z À ÁV DAiÄÉÌUÆ É Aqª À g À £ À ÄÀß ¸£ À Á䤸¯ À Á¬ÄvÄÀ. J¥ïsP¹ É ¹L£À CzåÀsPëÀ ²Ãæ.P.Ég« À , »jAiÄÀ G¥ÁzåÀsPëÀ ²Ãæ.¸ÄÀzÁsPg À ï J¸ï. ±n É ,Ö f¯Áè ªÁtd Â å ªÄÀvÄÀÛ PÊÉUÁjPÁ ªÄÀAq½ À UËgª À À CzåÀsPëÀ f.J¯ï.ªÄÀÄzÝÉÃUËq,À CzåÀsPëÀ z£ Às ¥ À Á¯ï, PÁ¹AiiÀÁ CzåÀsPëÀ Dgï.º£ À ÄÀªÄÀAvÃÉUËq,À G¥À DAiÄÀÄPÛÀ gÁeÃÉAzæÀ PÄÀªiÀÁgï, »jAiÄÀ G¥ÁzåÀsPëÀ ºZ É ï.r.UÆ É Ã¥Á¯ï, G¥ÁzåÀsPëÀ UÆ É ¥Á®PÈÀµÚÀ ¥¨ æÀ ÄÀs, PÁAiÄÀðz² À ð z° À ZAÀzï, JA eÊÉ£ï ºÁUÆ À ¸AÀ¸ÁÜ¥PÀÀ CzåÀsPëÀ g« À PÄÀªiÀÁgï, ¥PæÀÁ±ï J¸ï.AiiÀÁf ªÄÀwv Û g À g À ÄÀ G¥¹ À Üvj À zÝÀgÄÀ.

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Issue 10

Events @ FKCCI

World Tourism Day Celebrations

FKCCI celebrated World Tourism Day in association with Garden City College and Indian Academy College on September 26 on the theme of ‘Sustainable Tourism: A Tool for Development’ at MV Auditorium, FKCCI. Inaugurating the programme, Sri K. Ravi, President, FKCCI said tourism has played a transformative role in sustaining the economies of several countries World Tourism Day 2017 presents a unique opportunity to raise awareness on the contribution of sustainable Tourism among Public and Private sector, decision makers and the international community at large through its role of generating varied employment opportunities in various sectors like Travel, Hospitality, Food, etc.

Chef Contest” for Hotel Management students across Karnataka, hosting the second edition of the FKCCI KarnatakaTourism Award–2017andreleasingaTourism Directory for the benefit of the tourism and allied sectors.

Sri Shiva Shanmugam, Advisor and Past President, FKCCI assured the students that a lot of entrepreneurship opportunities were available to them once they finish their Course and also appreciated their performance during the cultural programmes.

Sri C.R. Janardhana, Vice-President and Sri M.C. Dinesh, Immediate Past President, FKCCI interacted with the participants. The event ended with a vote of thanks by Sri Sudhakar S. Shetty, Senior Vice- President, FKCCI.

Sri Prakash Mandoth, Chairman, Tourism Committee informed that the FKCCI was taking a number of initiatives to promote tourism in Karnataka such as, developing a Tourism app with the support of the Tourism Department of the State, organizing a “Young

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Issue 10

Contributor’s Column

Lessons from the Infosys Fiasco - II D. Muralidhar, Past President, FKCCI

The IT business was undergoing fast-paced changes and the earlier structure and processes were being copied by other players posing challenges to the established players like Infosys.

Infosys’ stock was the darling of investors and the promoters slowly and steadily sold their stock and finally brought their holding down to about 12%.

Today, the rest of the company is owned by foreign institutional investors, domestic mutual funds, employees and other shareholders. The promoters made a conscious decision to move away from running the company and brought in a professional CEO and a Board. This move was considered as path-breaking and it became a topic for discussion in many forums. The dispassionate approach of the founders was lauded and theywereconsideredasiconstobeemulated.

However the good script ends there and the power games and tussles began slowly and gradually thereafter. The new professional CEO, Mr. Sikka, brought in to usher a transformational change and drive the company into the next orbit was from a new generation with a entirely different working culture, driven by mercenary zeal.

The IT business was undergoing fast-paced changes and the earlier structure and processes were being

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copied by other players posing challenges to the established players like Infosys. However, the new CEO and the Board were ahead of the curve and the company continued to perform well. As with all changes, the new CEO and Board brought in their own style of management with emphasis on performance. But some of their decisions regarding expenses management fell short of the stringent, tight fist policy of the previous management. The basic ideology and the core values that were associated with Infosys, were being diluted, claim the founder’s group lead by Narayana Murthy. However, the Board's stand is otherwise and says that it's decisions are prudent and dictated by the need of the occasion. It’s unfortunate that a lot of dirty linen was washed in the public with counter claims.

It's a very tricky situation and difficult to sit in judgement. Both the parties seem to have erred. The new dispensation should have kept the sensitivities of the company culture and avoided brash display of pomp.

The founders, having nurtured the business from the start should not have completely given up on management control. They should have continued to be on the Board though their holding is just 12%. They cannot exercise remote control and achieve desired results.

The unceremonious exit of the CEO and many members of the Board after this incident has dented the reputation of the company and it can hurt the performance. Though the new incumbent chairman, Nandan Nilekani, is a known and old hand in the industry, he could find it difficult to build a new team as the talent pool is limited. With constant alleged interference from the promoters, no CEO would be comfortable, and the choice may be limited to suboptimal internal candidates. Nandan should get his act together, forget the recent happenings and move fast to catch up and reclaim the old glory and reputation, and make us all proud again.

There are many lessons to be learned from the Infosys story - of power struggle and Board room battles for all businesses especially wealthy first-generation entrepreneurs to avoid such situations. (Concluded)

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FKCCI in Media

INDIAN EXPRESS | 12th September 2017 - Page 8

VIJAY KARNATAKA | 16th September 2017 - Page 4

INDIAN EXPRESS | 21th September 2017 Page 5A

VIJAYA VANI | 21th September 2017 Page 5A

SANJEVANI | 12th September 2017 - Page 5

VIJAYA KARNATAKA | 21th September 2017 Page 11

KANNADAPRABHA | 12th September 2017 - Page 5

UDAYAVANI | 12th September 2017 - Page 5

VIJAYVANI | 16th September 2017 Page 7

EE SANJE | 16th September 2017

EE SANJE | 12th September 2017 - Page 6

HOSA DIGANTHA | 21th September 2017 Page 5

KANNADA PRABHA | 16th September 2017 Page 2

PRAJAVANI | 16th September 2017

PRAJAVANI | 8th September 2017

EE SANJE | 16th September 2017

46

SAAKSHI KARNATAKA | 13th September 2017 - Page 4

PRAJAVANI | 12th September 2017

PRAJAVANI | 21st September 2017 Page 3B

HOSA DIGANTHA | 13th September 2017 - Page 4

VIJAYAKARNATAKA | 13th September 2017 - Page 2

RAJASTHAN PATHRIKA | 16th September 2017 Page 4

October 2017

TIME OF INDIA | 21th September 2017 Page 8

HOSA DIGANTHA | 16th September 2017 Page 4

UDAYAVANI | 16th September 2017

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REGISTERED KARBIL No. 67459/97 (Regn. No. RNP/KA/BGS/343/2015-17) Posted at BG PSO, Mysore Road, Bangalore - 560 026 on 14th of every month, Pages: 48 | Permitted on 17-10-2017 | Date of Publication: October 13, 2017

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