I am happy to present the 181st Annual Report of the Madras Chamber of Commerce & Industry. This year witnessed significant changes in the country and in the State of Tamil Nadu as well. The Government of India announced demonetization which was deemed as a shock therapy or a surgical strike for countering black money and the growing menace of fake Indian currency notes and had mixed impact on the Economy. It was said that the GDP growth had come down by 1 %, but policy makers argued that this is a temporary setback only. With GST becoming a reality now, we will have to wait and watch how the whole economic order would change. GST is slated to be the greatest tax reform of the century and trade and industry is obviously anxious about the transition process. The Indian economy is definitely in one of its important cross roads. As per the last Economic survey India should grow between 6.75 to 7.5 % in 2017-18. Coming to our State Tamil Nadu, it faced a major shift in the Politics of the State with the passing away of our former CM Selvi J. Jayalalithaa in December last year and the natural disaster like the Vardha added to the gloom. The business community is fighting the various odds and trying to stay afloat. The Chamber always finds it exciting to keep pace with these changes and move along with its endeavor to make businesses thrive, thus paving way for the State to become ‘numero uno’. During last year’s AGM, the Chamber had the privilege of having Mr. B.Santhanam, President and MD, Flat Glass - South Asia, Malaysia & Egypt, Saint Gobain Pvt Ltd. as the Chief Guest followed by our Former President, Mr. N.Srinivasan Vice Chairman & Managing Director, The India Cements Ltd., as the Chief Guest for Chamber Day. Both of them were able to touch a chord with the participants, as they spoke about the current situation and the plans for the future development of the Industry in particular and Nation, as a whole. Goods and Services Tax (GST), an upcoming system of taxation in India which will merge many individually
PRESIDENT’S REPORT
Dear Members,
applied taxes into a single tax was introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill. It became the buzzword among corporate and the Chamber was one of the first, to have a Workshop on GST – The New Horizon, to bring awareness, understand the practical difficulties and to give realistic suggestions to the Government. Due to an overwhelming response from members/non members, it was repeated in a gap of one month for another set of participants. With a strong taxation committee that has professionals who could be rated as the one of the best in the country, the Chamber is making elaborate plans for enabling the Corporate to smoothly sail into the GST Regime. The Chamber added a feather to its cap by receiving a special award as a Responsible BMO (Business Membership Organization) from the Foundation for MSME Clusters, a think tank in New Delhi supported by DIPP, MSME Ministry and Department of Science & Technology, GOI. In its 5th year of Sustainable Chennai Forum,(SCF) the Chamber was able to showcase its activities and be a proud winner of this award. The 5th anniversary of the SCF was celebrated with a future vision to set up a Chennai Urban Observatory with National Institute of Urban Affairs as its knowledge Partner. The Chamber had the privilege of having three senior bureaucrats from the State Government participating in this workshop apart from other experts from Industries, Academic Institutions and a few like minded Institutions. Further, a State level workshop on Urban Flood Mitigation with the focus on Chennai city was held with eminent speakers discussing on best practices for urban flood risk management. The Chamber’s diverse interest is evident by its major conference on CSR for the second consecutive year by the CSR Committee. The Conference served as a platform for Corporate and NGOs to showcase their activities and to network. To constantly encourage CSR among Corporate, a CSR vision is envisaged by the Chamber and the first batch of certificate course on CSR for Corporate
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was held successfully this year. More such batches and courses for NGOs are envisaged in the coming years. The Chamber has always been on the forefront when it comes to issues relating to Women. The Women Director’s forum is a leading example which sowed the seeds for a new project, namely, She Leads. With the objective of identifying and grooming young women leaders, the British Deputy High Commission of India, Chennai in partnership with The Madras Chamber of Commerce and Industry(MCCI) and Women of Worth (WOW) launched the She Leads Project. Starting with a nation-wide social media campaign, and going through a rigorous 3 tier process, 10 winners were selected from different educational institutions. They were awarded the She Leads title in a grand event at Chennai and had a networking dinner with Her Excellency, Lt. Governor of Puduchery, Dr. Kiran Bedi IPS (Retd). They were also given an intensive leadership training by the Chamber and the Great Lakes Institute of Management, fully funded by the Project. The campaign to promote women leaders would continue to be in the agenda of the Chamber. In the Chamber’s strive to encourage and exchange best practices, a visit to Grundfos Pumps Pvt Ltd., Wabco India Ltd and to Adani Container Terminal had been organized which received positive feedback. More such visits would be organized in the coming years. The Certificate courses for EXIM, HR & IR, CSR are endeavors by the Chamber to increase the knowledge base of the members. The Chamber would be continuing to repeat these courses and explore possibilities of having certificate courses in other areas as well. The Chamber, being aware that ‘Logistics is the key to economic growth’ has a vibrant team which has conducted the maximum number of programs under its auspices ranging from certificate courses for Exim professionals, colleges, to workshops on customs valuation, AEO, SOLAS, visit to container terminal, among others. The Chamber would continue its efforts in this direction. To foster a thriving economic relationship with other Countries and to create opportunities to network, connect, collaborate and learn from one another is one of the pivotal roles of the Chambers of Commerce. We have done our share, by having numerous seminars and visit of delegations to promote business in Netherlands, UAE, Thailand, Belgium, Austria, USA, Kazakhstan among others. The Chamber’s Flagship events, namely Post Budget Workshop, All India Workshop on Indirect Taxes, MCCI – IEF Conference, and others which are usually attended in large numbers, were held this year with the
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objective of providing the latest to the Industry, thereby increasing their confidence and capacity to meet new challenges. The Chamber also conducted numerous Seminars, Awareness programs, In-house trainings apart from a few outreach programs, providing a platform for the businesses to get better. The participation and positive feedback received is a proof that we are moving in the right direction. This year too, the Chamber continued with its successful Food For Thought (FFT) series. The objective of the FFT series is twofold. First, to look at issues from a perspective that goes beyond business and second, to tackle issues that require larger debate. The FFT themes this year, ‘Brexit and the future of Globalization’, ‘Madras Then and Chennai Now, ‘Will our Education system attain Global Standards’ ‘Cloud Computing – Whether or Wither’ were met with eager participation and positive response. The Chamber has held meetings with senior IAS officers to flags the concerns of the Industries and to give recommendations to ensure ease of doing business. These interactions have also helped the Chamber to understand the Governments stand in certain issues and the ways and means to work closely with the Government to enable the State to achieve its growth has been charted out by the Chamber. The Chamber would continue to work closely with the government in its mission to increase the economic growth of the State. The General Committees and Expert Committee meetings were held regularly to discuss about subjects of relevance and to develop relevant awareness seminars, conferences, representations to the Government etc. in tune with the need of the Industry. In conclusion, it was another eventful and memorable year for the Chamber. I would like to thank the entire Chamber team, the Secretariat, the Expert Committees and the Members for being a part of the success. It is a great pride to be the president of this legendary Chamber and with all your support, I can assure you that the Chamber would stand by you in all your endeavors to make your businesses succeed and create positive footprints both in the State and National economic development agenda. Best Wishes
Ram Venkatramani President
OUR MISSION YYY It is our mission to proactively influence public policy and practice on issues which impact economy, trade, commerce and industry and also social processes such as education and health, infrastructure and environment. Reliability, timeliness, innovation and work ethic of a high order is our offer to support and serve our Members . YYY VALUES AND BELIEFS We Y will function with sincerity, dedication and commitment Y will provide the best quality service to our members Y will empower employees to fulfill our objectives Y will maintain a working atmosphere conducive to building trust and developing team work Y will be alive to competition and constantly upgrade our services to be a leader Y will act as a responsible law abiding Chamber and will make effective contribution to the society Y will jointly work with members continuously for improving the quality of work life
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GENERAL COMMITTEE 2016-2017 President: Mr. Ram Venkataramani Managing Director I P Rings Ltd.
Vice-President: Ms. Gayathri Sriram Managing Director Ucal Auto Pvt.Ltd..
Mr. A. R. Subramanian Executive Director-Finance & Company Secretary Schwing Stetter India Pvt. Ltd.
Mr. K. Vaitheeswaran Advocate & Tax Consultant K.Vaitheeswaran & Co.,
Mr. P. Viswanathan Secretary & Compliance Officer Sundaram Finance Ltd.
Ex-Officio Members (Elected) :
Mr. S.G. Prabhakharan
Mr. L. Ashok
Chairman XS Real Properties Pvt.Ltd.
Managing Director Futurenet Technologies India Pvt.Ltd.
Mr. N. S. Balachandra Datta Vice President Corporate Affairs Hyundai Motor India Ltd.
Mr. Ishwar Achanta Managing Director Portman India Private Limited
Mr. P. Kaniappan Managing Director Wabco India Ltd.
Mr. J. Krishnan Partner S Natesa Iyer & Co.
Mr. S. Krishnan Partner Krishnan & Natarajan
Mr. V.M. Mohan Executive President – Corporate Finance The India Cements Ltd.
Mr. S. Parthasarathy Chief Executive Officer Rane (Madras) Ltd.
Dr. K. V. Rajendran Advisor Neophyll Agrisciences Pvt.Ltd.
Mr. K. Ramakrishnan Senior Managing Director – Strategic Relationships Spark Capital Advisors (India) Pvt.Ltd.
Mr. G.V. Raman Executive Chairman Shriram Group of Companies
Mr. Ramkumar Ramamoorthy Sr.Vice – President – Corp. Marketing, Research & Communications Cognizant Technology Solutions India Pvt.Ltd.
Mr. Ramkumar Shankar Executive Director Chemplast Sanmar Ltd.
Mr. S. Ravishankar Director - Commercial Super Auto Forge Private Ltd.
Mr. B. Sriram Partner Ernst & Young LLP
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ANNUAL REPORT 2016-17
Members (Co-opted) Prof. Bhaskar Ramamurthi Director Indian Institute of Technology Madras
Mr. V.A. George Managing Director Thejo Engineering Ltd.
Dr. K. Nirmala Prasad Former Principal, M.O.P.Vaishnav College for Women
Mr. B. Ramesh Babu Chief General Manager State Bank of India
Mr. R. Raghuttama Rao Managing Director ICRA Management Consulting Services Limited
Mr. C.K. Ranganathan Chairman & Managing Director CavinKare Private Limited
Mr. V. Ranganathan Partner, TCE Tax & Regulatory Services Ernst & Young Pvt. Ltd.
Mr. N.K. Ranganath Managing Director Grundfos Pumps India Ltd.
Mr. N. Reguraj Managing Director Nettur Technical Training Foundation
Mr. P.B. Sampath Director Tractors & Farm Equipments Ltd.
Mr. Sarath Naru Managing Director Ventureeast Fund Advisors (India) Pvt.Ltd.
Mr. R. Subramanian Managing Partner R.Subramanian & Co.,
Mr. Vijay Sankar Deputy Chairman The Sanmar Group
Mr. Vijay Srinivasan Director T A Taylor Pvt.Ltd.
Special Invitees (Past Presidents) Mr. V. Balaraman
Mr. N. Venkataramani
Former Chairman CAMS
Chairman & Managing Director India Pistons Ltd.
Mr. Hari Eswaran
Mr.T.Shivaraman
Chairman Easun Group
Managing Director & CEO Shriram EPC Ltd.
Ms. Mallika Srinivasan
Mr. Srinivasan K Swamy
Chair person & Chief Executive Officer Tractors & Farm Equipment Ltd.
Chairman & Managing Director R K Swamy BBDO Pvt. Ltd.
Mr. N. Ramachandran
Mr. N. Srinivasan
Chairman Results Investments Pvt Ltd
Senior Partner (Retd.) F&R
Mr. L. Sabaretnam
Mr. N .Srinivasan
Director Coromandel Sugars Ltd.
Vice-Chairman & Managing Director The India Cements Ltd.
Mr. N. Sankar
Mr. T. T. Srinivasaraghavan
Chairman The Sanmar Group
Managing Director Sundaram Finance Ltd
PROGRAMS AT A GLANCE
2016-17 Special Programs
4
Flagship Activity
4
Sowing the Seeds (Seminars/Workshops & Training Programs)
22
Doing the Honors (Visit of Delegations)
3
Together we grow (Joint Programs)
26
Sustainable Chennai Forum (SCF)
2
Food For Thought
4
General Committee Meetings
13
Expert Committee Meetings
11
Representations made to Government
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PROGRAMS APRIL 2016 - MARCH 2017 2nd April 2016
23rd April 2016
Visit to Coastal Guard Ship Sarang
International Conference on Connecting Voices to Combat Corruption in association with GRATE, ACA & IOD
12th April 2016 Special Focus on AEO & Single Window Project Special Invitee : Mr. K. Raghu N Chary, Principal Commissioner of Customs, Chennai VII Commissionerate. Speakers : Dr.K.Venkat Ram Reddy, Additional Director, Directorate General of Performance Management Customs, Central Excise & Service Tax, Chennai ; Mr.N.Sankaranarayanan, Dy.Commissioner, Customs & Incharge of EDI, Chennai. th
16 April 2016 Valedictory Session of IR Course Chief Guests : Ms Kalaivani, Joint Commissioner of Labour, Chennai & Mr.T.S.Gopalan, Advocate, Madras High Court.
18th April 2016 4th Trade Meet with Kamarajar Port Limited (KPL) Speakers : Mr. M.A.Bhaskarachar, Chairman and MD, KPL; Mr.V.Krishnaswamy, GM, KPL ; Mr.N.Suresh, VP, Chettinad International Bulk Terminal ; Mr.Sanjay Kumar, Director – Operations, KPL ; Capt.C.V.Ramnath, Business Head, Adani Ennore Container Terminal Pvt.Ltd. ; Mr.M.Gunasekaran, General Manager – Finance, KPL.
19th April 2016 Seminar on ‘The Changing Landscape of Arbitration in India’ jointly with NPAC
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Inaugural Address : Hon’ble Justice Mr.M.M.Sundresh, Madras High Court Keynote Address : Mr.G.Rajagopalan, Additional Solicitor General of India, Madras High Court Speakers : Dr. S.Satyamoorthy, IAAS Retd., Chairman, GRATE ; Mr.P.Murari, IAS (Retd.), President, IOD – TN State Chapter ; Mr.Umar Siddique, President, Anti Corruption Academy C h a i r p e r s o n o f t h e Te c h n i c a l S e s s i o n s : Mr.M.S .Sund arara j an, C hair man, IOD; Mr. T. S Krishnamur thy, Former CEC, GoI; Mr. V. S. Sundaresan, CGM (Investigation), SEBI, Mumbai & Mr. R.K. Raghavan, Former Director, CBI. Speakers in Technical Sessions : Dr.Bhaskar Chatterjee, DG & CEO, IICA, New Delhi ; Mr.Nikos Passas, International Anti Corruption Academy, Vienna ; Mr.G.Sivasubramanian, Associate Director, India Ratings & Research Pvt.Ltd. ; Mr Le Moignan, Director, International Governance and Risk Institute; Dr.K.Saleem Ali, Anti Corruption Academy ; Mr. Mohan Parasaran, Senior Advocate ; Mr.Richard Stockdale, CEO of Lloyds TSB Global Services; Mr.M.R .Venkatesh, Partner, GSV Associates; Mr.Sandeep Baldava, Partner & Leader (South) Fraud Investigation & Dispute Services, Ernst & Young; Rev. Dr. N.Casimir Raj SJ, Founder & President, LIBA. & Mr. R. Ramamurthy, Chairman, Cyber Security & Privacy Foundation.
Chief Guest: Hon’ble Justice Mr.V.Ramasubramanian, Judge, Madras High Court.
26th April 2016
Speakers : Mr.N.L.Rajah, Advocate ; Mr.Rahul Balaji, Advocate ; Mr.Anirudh Krishnan, Advocate; Mr.K.D.Arcot, Engineer & Arbitrator ; Hon’ble Justice Ms.Prabha Sridevan (Retd.), Judge, Madras High Court ; Mr.T.T.N.Sudharshan, Joint General Manager – Legal, L & T Construction & Mr.K.Pradeep, Manager – Legal, Sundaram Clayton Ltd.
Chief Guest : Mr.Alfonsus Stoelinga, Netherlands Ambassador
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Seminar on Doing Business with Netherlands
Special Address : Mr.C.V.Sankar, IAS., Additional Chief Secretary, Industries Department, GoTN Speaker : Ms.Stans Kleijnen, Director India, Netherlands Foreign Investment Agency, Mumbai
Speakers in the Panel Discussion : Mr.N.K.Ranganath, MD, Grundfos Pumps India Pvt.Ltd.; Mr.Michiel Bierkens, Head of Economic Affairs, Embassy of the Kingdom of the Netherlands, New Delhi ; Mr. Sudeep Sangameswaran, MD, Paques Environmental Technolog y India Pvt. Ltd ; Mr. Toine van Megen, Co-Founder, Auroville Consulting; Mr. S. Chandramouli, Business Head, International Business, TAFE ; Mr. S Venkatachalam, MD, Orient Green Power Co Ltd. & Mr. A. Shankar, National Director, Head of Operations - Strategic Consulting, JLL
Speakers : Mr.Ranjan Kumar Routray, IRS, Principal Commissioner, Chennai ; Mr.Raghu N Chary, IRS, Principal Commissioner, Air Cargo ; Mr.M.S.Arun, Chairman, NACFS
4th June 2016 Workshop on Domestic Enquiry at Coimbatore Chief Guest : Mr.Muthu Velappan, Senior VP, HR, Sakthi Sugars Speakers : Mr.Akbar Khan, HR Consultant, Mr.R.Malavannan, Chief People Officer, PRICOL & Mr.Anand Gopalan, Chairman, HR & IR Committee
29th April 2016 Workshop on Digital Marketing, Jointly with Business Standard Resource Expert : Mr.Barath Surendran, Trainer
29th April 2016 Session on Service Tax and Cenvat Credit – Recent Changes Resource Expert : Mr.K.Vaitheeswaran, Advocate & Tax Consultant & GC Member
4th May 2016 CCCCC Meeting – Trade Business Opportunities between India and USA Chief Guest : H.E. Mr.Philip A Min, Consul General of United States of America in Chennai
5th May 2016 NECTO 2016 - a Corporate NGO Connect – Jointly with Nextgen
31st May 2016 PRESS MEET Industry Wish List to the Govt. of Tamil Nadu – Headed by Mr.S.G.Prabhakharan, President, MCCI; Mr.Ram Venkataramani, Vice President, MCCI; Mr.R.Raghuttama Rao, GC Member, Ms.Gayathri Sriram, GC Member; Mr.N.S.Balachandra Datta, GC Member
2nd June 2016 MCCI Jointly with NACFS - Discussion on Amendments in Warehousing Provisions under the Customs Act Chief Guest : Mr.P.K.Das, IRS Chief Commissioner of Customs
11th June 2016 FFT on “Will our Education system attain Global Standards” ? Moderator : Dr.S.Venkataraman, Chairman, MCCI Education Committee & Vice President (Education & Training), The India Cements Ltd. Speakers : Mr. Anand Sunderasan, VC & MD, Schwing Stetter India Pvt.Ltd; Prof. Sankaran Krishna, Department of Political Science, University of Hawaii & Prof. Vaidy Jayaram, Great Lakes Institute of Management
17th June 2016 Seminar on Transfer Pricing Speakers : Mr.Sriram Seshadri, Chairman, MCCI Direct Tax Committee ; Mr.Soumitra Kumar Chakraborty, Director – TP, PWC ; Mr.Ganesh Krishnamurthy, Director, BMR & Associates LLP, Mr.Jasdeep Singh, IRS, Commissioner of Income Tax – Transfer Pricing, Income Tax Department, Chennai and Mr.Ashwin Viswanathan, ED, TP, E & Y.
24th June 2016 Visit to Grundfos Pumps India Pvt.Ltd.
24th June 2016 Group Discussion on IMO’s Mandatory Container Weighing Regulations : Is the Trade Ready? – Partnered with Exim Shipping Times MCCI Representatives : Mr. Sundaram, ED – Corporate, Super Auto Forge & Mr. Udayabhaskar Reddy, Chairman, MCCI Logistics Committee & Wholetime Director, Sanco Trans Ltd. ANNUAL REPORT 2016-17
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2nd July 2016
2nd August 2016
Certificate Course on Basics for EXIM Professionals
180th Annual General Meeting
Faculties : Mr.J.Krishnan, Mr.U.Udayabhaskar Reddy, Mr.Pankaj Gadhia, Ms.T.Shanmugapriya, Mr.Murugappan, Mr.V.Ramanan, Mr.U.Sridharan, Mr.N.Vijayakumar & Mr.N.Raghu
Chief Guest : Mr.B.Santhanam, President & Managing Director, Flat Glass – South Asia, Malaysia & Egypt, Saint Gobain India Pvt.Ltd.
12th July 2016
Special Guest : Dr.Sunder Ramaswamy, Officiating Director & Visiting Distinguished Professor, Madras School of Economics
ASSOCHAM Press Meet jointly with MCCI & Managing Committee Meeting in Chennai
8th August 2016
Special Guest : Mr.R.Subramania Kumar, Executive Director, Indian Bank Felicitation of Mr.Sunil K anoria, President, ASSOCHAM by Consultative Committee of City Chambers of Commerce
13th July 2016 Interactive Meeting on Income Declaration Scheme 2016 jointly with Income Tax Department Resource E x per ts : Mr.A .Sasikumar, IR S ., Joint Commissioner of Income Tax, Chennai & Mr.M.Mathivanan, IRS, Additional Commissioner of Income Tax, Chennai
15th July 2016 FFT on Brexit and the Future of Globalization. Speakers : Mr.K.Venugopal, Director, Kasturi & Sons, Mr.S.G.Prabhakharan, Immediate Past President, MCCI, Dr.Sunder Ramaswamy, Officiating Director, Madras School of Economics & Mr.Christie Cherian, Chairman, British Business Group
Interactive Meeting with PF Commissioner & Officials on New initiatives by EPF Department. Resource Experts : Mr.Salil Sankar, Regional PF Commissioner; Mr.Rithuraj Medhi & Mr.A.Sankar, Accounts Officer, PF Department.
11th August 2016 ICICI CEO Knowledge Forum jointly with ICICI Bank Key Speakers : Mr.Mukesh Manik, Entrepreneur Speakers in Panel Discussion : Mr.Ramkumar Ramamoorthy, Sr.Vice President, Corp.Marketing – Research & Communications, Cognizant Technology Solutions & GC Member, MCCI ; Mr.S.Ravishankar, Director – Commercial, Super Auto Forge Ltd., & GC Member, MCCI and Mr.T.V.Narayanan, Joint General Manager and Zonal Head – South, ICICI Bank
12th August 2016 President, MCCI meeting with Chair and Co-Chair of All Expert Committees for the year 2016-17
20th August 2016 16th July 2016 Workshop on Recent changes in Customs Law Procedures Resource Expert : Mr.K.Vaitheeswaran, Member MCCI General Committee & Chairman, Indirect Taxes Committee
Valedictory Session of Certificate Course on Basics for EXIM Professionals Chief Guest : Mr.G.V.Raman, Executive Chairman, Shriram Group of Companies & GC Member, MCCI
26th August 2016 Workshop on GST – The New Horizon
23rd July 2016
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Investment Seminar – Setting up a Business in UAE under CCCCC
Chief Guest : Mr.C.P.Rao, IRS., Chief Commissioner of Service Tax, Chennai
Resource Expert : Mr.Aseeb Abdul Khader, Vice President – Marketing, Ras Al Khaimah Investment Authority (RAKIA), Govt. of Ras Al Khaimah, UAE
Speakers in Technical Session : Mr.K.Vaitheeswaran, Advocate & Tax Consultant and Chairman, MCCI Indirect Taxes Committee; Mr.C.V.S.Krishnakumar, Director, Kone Elevator India Ltd.;
ANNUAL REPORT 2016-17
Mr.K.K.Ravichandran, IRS, Commissioner of Central Excise,Chennai; Mr.K.K.Sekar, Head – Indirect Taxes, Ashok Leyland Ltd., & Co-chairman, MCCI Indirect Tax Committee; Mr.P.R.Subramaniayan, Head – Indirect Taxes, L&T and Chairman, MCCI VAT Committee; Mr.R.Gopakumar, Associate Director, Cognizant Technology Solutions: Mr.J.Krishnan, Partner, S.Natesa Iyer & co., & Member, MCCI General Committee; Mr.S.V.Krishnan, CFO, Redington India Ltd.; & Mr.Deepak Mathur, Sr.Director – Legal, PepsiCo India Holdings Ltd.
26th August 2016 Seminar on Business Opportunities in Brussels, Belgium under CCCCC Chief Guest : Mr.Bart de Groof, Consul General, Consulate of Belgium
27th August 2016 FFT on ‘Madras’ then and ‘Chennai’ Now Speakers : Mr.Chandu Nair, Entreprenuer & Advisor; Ms.Ranjini Manian, Founder & CEO, Global Adjustments & Mr.Pradeep Chakravarthy, Leadership Coach & Author
2nd September 2016 Launch of Joint Certificate Course on Introduction to the Logistics by MCCI & Patrician College Arts & Science
9th September 2016 Workshop on GST – The New Horizon Speakers : Mr.K .Vaitheeswaran, Advocate & Tax Consultant and Chairman, MCCI Indirect Tax Committee; Mr M Parameshwaran, Joint Commissioner (Central), Commercial Taxes Dept., Govt. of Tamil Nadu, Chennai & Mr.K.K.Sekar, Head Indirect Taxes, Ashok Leyland Ltd., & Co-Chairman, MCCI Indirect Tax Committee. Speakers in the Panel Discussion : Mr.G.Raghu Sankar, ED, ICSA; Mr.K.Vaitheeswaran; Mr.T.G.Ramakrishnan, Consultant – Indirect Taxation, Hindustan Unilever Ltd, Mumbai; Mr.R.Gopakumar, Associate Director, Cognizant Technolog y Solutions &
Mr.P.R.Subramaniyan, Head – Indirect Taxes, L & T Construction and Chairman, MCCI VAT Committee
10th September 2016 Training Program on Import & Export Documentation Procedures Special Address : Mr.Sanjit K Samal, ITS, Zonal Additional Director General of Foreign Trade, Southern Zone. Resource Expert : Mr.J.Krishnan, GC Member, MCCI
24th September 2016 Management Development Program on Industrial Disputes Act Speakers : Mr.Anand Gopalan, Barrister, Partner & Chairman, MCCI Expert Committee on HR & IR; Mr.Haroon Al Rasheed, Advocate, T.S.Gopalan & Co. & Ms.Madhri Guruswamy, Advocate, T.S.Gopalan & Co.
29th September 2016 CHAMBER Day Chief Guest : Mr.N.Srinivasan, Vice Chairman & Managing Director, The India Cements Ltd. Guest of Honor : H.E.Mr.Jan Lukyx, Ambassador, Kingdom of Belgium, New Delhi
5th November 2016 Training Program & Discussion – Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act 2013 Speakers : Ms.Madhri Guruswamy, Advocate, T.S.Gopalan & Co., and Ms.Saras Bhaskar, Counseling Psychologist & Coach, Bloom Health Care & Founder, Professional Counseling Services.
16th November 2016 MCCI Members visit to Adani Ennore Container Terminal
22nd September 2016 Visit of students of IIFT to Chennai Air Cargo & Customs along with Dr. M. Venkatesan, Presentation by Mr J Krishnan, Member, GC at Exim Bank Conference Hall ANNUAL REPORT 2016-17
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30th September 2016 Seminar on Business Opportunities in Building Smart Cities in TN Chief Guest : H.E.Mr.Bart De Groof, Consul General of Belgium, Chennai Speakers : Mr.Anand Madhavan, General Manager, IMACS & Chairman, MCCI’s Industrial Development / Infrastructure Committee ; Representatives of Six Belgian Companies & Ms.Kathlijn Fruithof, First Secretary, Trade and Investment, Consulate General of Belgium, Chennai.
4th October 2016 Interactive Meeting with H.E.Mr.Sanjay Bhattacharyya, IFS, Ambassador of India to the Arab Republic of Egypt jointly with SICCI Chief Guest : H.E.Mr.Sanjay Bhattacharyya Speakers : Mr.N.Kumar, Vice Chairman, Sanmar Group
18th October 2016 Partnering for Change – A Series of CSR Dialogues – Jointly with USAID, US Consulate Chennai, American Chamber of Commerce, GAVS Technologies & Nextgen Chief Guest : Mr.Philip A Min, US Consul General
21st October 2016 Launch of “SHE Leads” Speakers : Mr.Bharat Joshi, Deputy High Commissioner, BDHC, Chennai ; Ms.Tammy Sandhu, Deputy Head of Mission, BDHC; Ms.K.Saraswathi, Secretary General, MCCI & Ms.Fenny Kanagaraj, Women of Worth
3rd November 2016 Interactive Meeting with H.E.Mr.Bulat Sarsenbayev, Ambassador of Kazakhsthan
9th & 10th November 2016 5th Anniversary of Sustainable Chennai Forum & City Level Workshop on Chennai Urban Observatory jointly with NIUA Chief Guest : Mr.Dharmendra Pratap Yadav, IAS Speakers : Dr.Ajith Kaliyath, Indian Principal Investigator, UK-India Joint Network on Sustainable Cities; Prof.Michele Clarke, Associate Pro Vice Chancellor, University of Nottingham Speakers in the Technical Sessions :- Dr.Vijay Pingale, IAS, Joint Secretary, Industries Dept., Govt. of Tamil Nadu; Mr. R. Raghuttama Rao, Managing Director, IMACS; Mr. K. Venugopal, Director, Kasturi & Sons; Dr. Sunder Ramaswamy, Officiating Director and Distinguished Professor, Madras School of Economics; Dr. B. Chandramohan, IAS., Secretary to Government, Revenue Dept., Govt. of Tamil Nadu; Mr Suchith Anand, University of Notingham, Dr.Gitakrishnan Ramadurai, Assistant Professor, Department of Civil Engineering, IITM; Prof. Michele Clarke, Associate Pro Vice Chancellor, University of Nottingham, Mr. G.Rajesh,Head – Strategic Consulting, Urban Solutions, JLL; Mr.Selvadurai, Chief Planner, CMDA, Chennai; Mr R Vittal Raj, Partner, Kumar & Raj; Prof. Sudhir Chella Rajan,Department of Humanities and Social Sciences, IITM, Chennai High level Panel Speakers : Dr.Rajeevan Krishnaswamy, IAS ( R ); Dr.Sunder Ramaswamy, Officiating Director and Distinguished Professor, Madras School of Economics & Mr.T.Shivaraman, MD & CEO, Shriram EPC and Past President, MCCI
4th November 2016
26th November 2016
Meeting with officials of MCA, Chennai
Discussion on Recent Judgement on Entry Tax
Resource Experts : Mr.Sridhar Parmarthi, Registrar of Companies, MCA and Mr.P.Achutharamaiya, Official Liquidator, MCA
Speakers : Mr.N.Venkataraman, Senior Advocate, Supreme Court of India; Mr.K.Vaitheeswaran, Chairman, MCCI’s Indirect Taxes Committee & Member, General Committee & Mr.K.K.Sekar, Head – Indirect Taxes, Ashok Leyland & Co-Chairman, MCCI’s Indirect Taxes Committee
5th November 2016 Seminar on Energy Efficiency Technologies & Solutions for Buildings jointly with JASE World
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Resource Expert : Mr.S.Venkatachalam, Managing Director, Orient Green Power Co.Ltd., & Chairman, MCCI’s Energy Committee
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29th November 2016
15th & 16th December 2016
Interactive Meeting with Mr.S.K.Samal, ITS., Additional Joint Director General of Foreign Trade under CCCCC
7th International Conference on Development Policy – Joint Program with Avinashilingam Institute for Home Science and Higher Education for Women, Coimbatore
2nd & 3rd December 2016 Power Conference on “Creating a Secure Sustainable and Vibrant Energy Future for Tamil Nadu” Chief Guest – Inaugural Session : Mr.Rajeev Ranjan, IAS., Additional Chief Secretary to Government – Highways and Minor Ports Department and Energy Department (In-Charge), Govt. of Tamil Nadu Special Address : Mr.T.Madhavadas, Executive Vice President & Head - Power Transmission & Distribution Business, L & T Construction, Chennai Speaker : Mr.Raghuttama Rao, MD, ICRA Management Consultancy Services & Member, MCCI’s General Committee. Speakers & Moderators in the Technical Session: Mr.S.Krishnan, I.A.S, Principal Secretary (Planning & Development), OSD Four teenth Finance Commission & Special Initiatives (Full Additional Charge), Govt. of Tamil Nadu; Mr.V.Thangapandian, Director – Power, Neyveli Lignite Corporation Ltd.; Mr. S.Shivakumar, General Manager, Coastal Energy Pvt. Ltd.; Mr.Y.R.Mehta, Former Director, GAIL; Mr.Anil Razdan, IAS (Retd.), President, IEF, New Delhi; Mr.H.L.Bajaj, Former Chairman, CEA, Ex Officio Secretary to GoI and Former Member, APTEL; Mr.J.George, Vice President, OEG India Ltd.; Mr.Anand Madhavan, General Manager, ICRA Management Consulting Services Ltd.; Mr.C.S.Raghuram, Director, C.R.Narayana Rao Architects; Mr.Karthigeyan B A, Area Sales Manager, Keselec Schreder Private Ltd.; Dr.J.Nagesh Kumar, Director, Centre for Energy, Environment and Productivity (CEEP);, Dr.S.Gomathinayagam, Director General, National Institute of Wind Energy; Mr. Madhusudhan Khemka, Managing Director, ReGen Powertech Pvt.Ltd.; Mr. A. Balakrishnan, General Manager, (Technical), Tamil Nadu Energy Development Agency (TEDA); Mr.S.Venkatachalam, Managing Director, Orient Green Power Co. Ltd.; Mr.K.E.Raghunathan, Managing Director, Solkar Solar Industry Ltd. Chief Guest – Valedictory Session : Mr.T.Shivaraman, MD & CEO, Shriram EPC Ltd. & Past President, MCCI
Welcome Address : Dr.U.Jerinabi, Dean, Faculty of Business Administration Presidential Address : Padma Shri Dr.P.R.Krishnakumar Chancellor, Avinashilingam University Inaugural Address : Hon’ble Union Railway Minister Shri. Suresh Prabhakar Prabhu (through Video conferencing) Keynote Address : Mr. Mohammed Hija Mohammed, Hon’ble Deputy High Commissioner of Tanzania to India Speakers in the Inaugural Session : Ms.K.Saraswathi, Secretary General, MCCI ; Prof.Tadeo A Satta, Reactor of the Institute of Finance Management (IFM), Tanzania ; Dr.Premavathy Vijayan, Vice Chancellor, Avinashilingam University & Dr.P.Chitramani, Professor & Head of Avnashilingam School of Management Technology Valedictory Session Chief Guest : Mrs.Devika Ramesh, Executive Director, AREMPEE Compressor Pvt.Ltd., Chairperson, FICCI Ladies Organization
16th December 2016 SME Conclave on “ How your savings can make money for you”? jointly with SBI Mutual Fund and The Hindu Business Line Keynote Address : Mr.R.Raghuttama Rao, Managing Director, ICRA Management Consulting Services Ltd. & MCCI GC Member Speakers in the Panel Discussion : Mr.R.Raghuttama Rao, MD, Management Consulting Services Ltd, GC Member, MCCI; Mr. A.N. Jha, General Manager, State Bank of India; Mr.Srinivasan, Zonal Head, Federal Bank & Mr. Raghavan Srinivasan, Editor, Business Line; Mr.P.Krishnakumar, Managing Director, Leitwind Shriram Manufacturing Limited.
22nd December 2016 MCCI Members Visit to Wabco India Ltd.
ANNUAL REPORT 2016-17
11
18th January 2017
1st February 2017
Food for Thought on Cloud Computing – Whether or Wither?
Union Budget Presentation viewed by MCCI’s General Committee Members & Expert Committee Members
Speakers : Mr. Praveen Jayakumar, from Amazon Web Services; Mr. Anuj Joshi from Omanvat Web Services, Mr. Ram, Vice President, Retd., Tech Mahindra th
20 January 2017 Workshop on “Urban Flood Mitigation : An approach from vulnerability to resilience – A case of Chennai City” jointly with NIUA, New Delhi Special Address : Mr.V.Thiruppugazh, IAS, Adviser, National Disaster Management Authority (NDMA) Inaugural Address : Mr. Kamal Kishore, Member, National Disaster Management Authority (NDMA), Speaker – Inaugural Session : Dr.Uma Ramachandran, Senior Research Manager, Centre for Devp.Finance, IFMR Lead & Dr.Ajay Katuri, Lead Specialist Urban Planning, Risk & Resilience, Taru Leading Edge Pvt. Ltd. S p e a k e r s i n t h e Te c h n i c a l S e s s i o n s : Mr. G.Padmanabhan, Emergency Analyst, UNDP; Dr. Tune Usha and Dr. M.V.Ramamurthy, Scientists, National Institute of Ocean Technology; Dr. Balaji Narasimhan, Associate Professor, Civil Engineering Department, IITM, Chennai; Dr. N.K.Ambujam, Director, Centre for Water Resources, Anna University and Mr. G.K. Bhat, Chairman Taru Leading Edge Pvt Ltd. Speakers in the Panel Discussion : Dr. K. R. Thooyavan -Professor (Design Chair); Former Chief Urban Planner – CMDA; Dr. S. Janakarajan Professor, Madras Institute of Development Studies; Mr. J. Babu Rajendran - Chief Engineer (SWD and Special Projects), Greater Chennai Corporation; Dr. Jayashree Vencatesan –Managing Trustee, Care Earth Trust; Dr. S. Seshadri, Indigenous and Frontier Technology Research Centre (IFTR) and Mr. Gopi Warrier, Independent journalist – Environment and Urban areas
27th January 2017 Interactive Meeting with Regional PF Commissioner & Regional Director, ESI Corporation Resource Experts : Mr.Salil Sankar, Regional PF Commissioner & Mr.P.B.Mani, Regional Director, ESI Corporation
12
ANNUAL REPORT 2016-17
3rd February 2017 Post Budget Workshop on Central Budget & Finance Bill 2017-18 Special Guest : Dr.M.Govinda Rao, Member, 14th Finance Commission & Professor Emeritus, National Institute of Public Finance & Policy, New Delhi Resource Experts : Mr.K.Vaitheeswaran, Chairman, MCCI Expert Committee on Indirect Taxes & Advocate and Tax Consultant & Mr.Sriram Seshadri, Chairman, MCCI Expert Committee on Direct Taxes & Partner, Price Waterhouse & Co.LLP
9th February 2017 Interactive Meeting with Dr.Oskar Andesner, Trade Commissioner of Austria
16th February 2017 Seminar on “National Intellectual Property Rights Policy – Opportunities and Challenges for Business” Keynote Address : Dr.S.P.Subramanian, Deputy Controller of Patents, GoI Speakers : Dr.K.V.Swaminathan, Founder – Chairman, WITT, New Delhi ; Mr.Raghu Cidambi, Advisor, Intellectual Property Affairs, Indian Pharmaceutical Alliance ; Mr.Krishna Gandhi, Advocate, High Court, Hyderabad & Attorney at Law, Patent & Trademark Attorney, US ; Mr.K.V.Seshasayee, Advisor, Telecom, Media & IT ; Dr.P.Gautam, Director, AU-KBC Research Centre, MIT Campus, Anna University Speakers in the Panel Discussion Mr.N.R.Krishnan, Former Secretary (Environment), G o I ; M r. K e d a r S uv a r n a p a t h a k i , He a d o f Regulatory & IP, Boehringer – Engelheim, India; Mr. S. Chandrasekharan, former Controller – General of Patents & IP Tribunal Member; Mr. S. Krishnakumar, former Sr.Vice President, Lucas TVS & L & T; Mr.K. V. Seshasayee, former President, COAI & former Group CTO, Hinduja Group
17th February 2017 Valedictory Session of Exim Trade Course at Patrician College Chief Guest : Mr.V.A.George, Managing Director, Thejo Engineering Ltd. & MCCI GC Member Meeting with Mayor of Jinju City
17th & 18th February 2017 Direct Tax Conclave 2017
Automotive Ltd ; Mr.Senthil Kumar, Founder, Payir ; Ms.Merlia Shaukath, Madhi Foundation Speakers in the Panel Discussion: Ms.Lakshmi Krishnan, AVP, Next Gen ; Mr.S.Madhavan, CEO, Cognizant Foundation ; Mr.M.Muthukumarswamy, VP, Company Secretary & Compliance Officer, Redington India Ltd. ; Mr Dr.N.Jeyaseelan, CEO, Hand in Hand ; Mr Rohid Chaudhary, Regional Director, Akshaya Patra
Chief Guest : Mr.Ajit Kumar Shrivastava, IRS., Principal Chief Commissioner of Income Tax, Chennai
7th March 2017
Speakers : Mr.Sriram Seshadri, Chairman, MCCI’s Direct Taxes Committee ; Mr.Manoj N.Kumar, Partner, BMR Associates LLP, Bangalore; Mr.Promode Murugavelu, Partner, Shardul Amarchand Mangaldas & Co., Advocates, Delhi; Mr.Krishnan Parameshwaran, Director-Taxation, Deloitte Haskins & Sells LLP, Chennai ; Mr.N.Venkataraman, Senior Advocate, Supreme Court, New Delhi ; Mr.K.Vaitheeswaran, Advocate & Tax Consultant & Chairman, MCCI’s Indirect Tax Committee ; Mr.Sivam Subramanian, Director, Price Waterhouse & Co.LLP, Chennai & Mr.K.K.Chythanya, Advocate, Bangalore
Speakers for Technical session & the Panel Discussion
26th to 28th February 2017
Chief Guest : Mrs. Krongkanit Rakcharoen, ConsulGeneral of Thailand in India (Chennai)
Water Today’s Water Expo 2017 – 11th Edition – MCCI Supporting Organization
28th February 2017 SHE Leads Award Ceremony & Dinner Reception for the Winners Chief Guests for Award Ceremony : Ms.Sruthi Hassan, Media & Entertainment ; Ms.Aishwarya Manivannan, Silambam Artist and Ms.Hufriz Wadia, Corporate Lawyer Chief Guest for Dinner Reception : Her Excellency, Lt.Governor of Puducherry, Dr.Kiran Bedi, IPS Retd.,
3rd March 2017 Conference on CSR – The Emerging Trends Chief Guest : Mr.P.N.Vasudevan, Managing Director & CEO, Equitas Small Finance Bank ltd. Speakers : Mr John Stephen, Head HR – MAB – SUB, ITC Ltd. ; Ms. Mangalam Balasubramaniam,Exnora Green, Pammal ; Mr.Reynold Fernandes, CEO, Oriental Cuisines Private Limited ; Mr.S.Sarathi ,Sr.VP, Anand
Launch of Project ELEvaTE – MCCI Jointly with ASSIST, KFW & REGIN
Mr. N. Ramamoorthy, Chief Engineer, ITC Grand Chola; Mr. J. Nagesh Kumar, Director, CEEP, Mr. K. Palanisamy, Managing Director, Genisys Smart Automation, Mr. R. Balakrishnan, General Manager, L & T; Mr. Balaguru, Automation and Control Engineer, Grundfos Pvt Ltd.
15th March 2017 Seminar on Doing Business with Thailand
Speaker : Ms.Kanokporn Chotipal, Senior Diplomat & Director (Investment) of BOI Thailand (Mumbai), Ms. Gayathri Sriram, VP, MCCI
22nd March 2017 Interactive Session with Mr.Joseph Burke, Deputy Secretary, Department of Community & Economic Development, Office of International Business Development, Commonwealth of Pennsylvania, USA
25th March to 8th April 2017 Certificate Course on CSR Chief Guest for Valedictory Session : Mr.Ashoke Joshi, IAS (Retd.), Chairman, Srinivasan Services Trust, Chennai
29th March 2017 Meeting with Mr. Raj Khalid, Representative for India, Port of Antwerp ANNUAL REPORT 2016-17
13
INDIAN ECONOMY
I
ndia, which is considered as one of the fastest growing economies in the world, saw its growth rate improving to greater than 7 percent in the past three years though there has been a slowdown in 2016-17.India is now the seventh largest economy in the world with GDP of US$ 2.26 trillion.In purchasing power parity (PPP) terms, India is already the third largest economy with GDP of US$ 8.7 trillion in 2016, accounting for 7.2% of world total.
GDP Growth As per advance estimates released in February 2017, India’s economic growth as measured by GDP has decelerated from 7.9 percent in 2015-16 to 7.1 percent in 2016-17. Growth has been driven by higher growth for agriculture while growth in manufacturing and construction sectors decelerated in 2016-17. Services sector growth has also declined from 8.8 percent in 2015-16 to 7.2 percent in 2016-17.
ANNUAL GDP AND GROWTH IN CONSTANT (2011-12) PRICES India’s third quarter GDP growth stood at 7percent. Compared with the previous quarter, growth was higher in agriculture and industry, more than offset by lower growth in services. Average growth in the emerging markets and developing economies including China declined from 4.2 per cent in 2015 to 4.1per cent in 2016(calendar-year basis). Growth in advanced economies also declined from 2.1 percent in 2015 to 1.7 percent in 2016.
QUARTERLY GROWTH RATES OF GROSS VALUE ADDED What is however worrisome is the continued slowdown in industrial production that commenced from the second quarter of 2011-12. Industrial production growth slowed down from 2.4 percent in 2015-16 to 0.6percent during 2016-17. Manufacturing continued to under perform and capital goods production declined 13.1 percent in 2016-17.
ANNUAL GROWTH RATES OF INDEX OF INDUSTRIAL PRODUCTION Industrial production increased only 1.5 percent in the fourth quarter of 2016-17, with manufacturing sector recording an increase of 0.8percent. Manufacturing's share of GDP has stagnated around the 15-18 percent mark for almost three decades now. The past five years have been particularly hard on manufacturing. However there is now greater focus on increasing the share of manufacturing in GDP.
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ANNUAL REPORT 2016-17
QUARTERLY GROWTH RATES OF INDEX OF INDUSTRIAL PRODUCTION The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has recently revised the base year of the all-India Index of Industrial Production (IIP) has also been revised from 2004-05 to 2011-12 to reflect the changes in the industrial sector and align it with the base year of other macroeconomic indicators like the GDP and Wholesale Price Index (WPI). Based on the new series, the IIP increased 5 percent in 2016-17, compared with growth of 3.4 percent in 2015-16. Performance of Core Industries The combined index of core industries stood at 202.9 in March 2017 indicating slow growth of 5 percent. On an annual basis, the growth in index increased from 4percent in 2015-16 to 4.5 percent in 2016-17. Growth has been higher for steel and oil refining. However, the index declined for cement, crude oil, and gas. Growth was also lower for coal, fertilizers, and electricity. Fourth quarter growth fell to 3.2 percent reflecting sharp declines for cement, oil refineries, and fertilizers.
GROWTH IN EIGHT CORE INFRASTRUCTURE INDUSTRIES
Quarterly Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Annual (FY) 2015 2016 2017
Overall
Coal
Crude Natural Oil Gas
Refinery Prod.
Fertilizers
Steel
Cement Electricity
2.5% 2.8% 2.4% 8.1% 5.4% 3.7% 5.7% 3.2%
7.0% 0.9% 5.2% 4.5% 5.4% -3.5% 3.2% 7.4%
-0.8% 1.7% -3.1% -3.2% -3.3% -3.3% -3.1% -0.3%
-4.2% 0.0% -4.0% -8.6% -6.1% -2.8% -1.0% 6.1%
4.2% 3.1% -0.2% 10.2% 7.1% 8.7% 7.7% -1.4%
2.4% 16.1% 14.7% 16.1% 11.0% 1.2% -0.5% -2.6%
2.1% -1.9% -5.1% 4.5% 3.8% 10.8% 12.5% 10.4%
1.4% 1.6% 4.8% 11.8% 5.7% 3.3% -0.8% -11.9%
2.3% 6.8% 9.5% 15.1% 9.0% 1.3% 6.2% 4.1%
4.5% 4.0% 4.5%
8.1% 4.5% 3.6%
-0.9% -1.4% -2.5%
-4.9% -4.2% -1.1%
0.3% 4.3% 5.4%
-0.1% 12.5% 1.8%
4.7% -0.1% 9.3%
5.6% 5.0% -1.3%
8.4% 8.3% 5.1%
Inflation Inflation pressures have been increasing during 201617 because of sharp increase in fuel and energy prices. The wholesale price index (WPI) increased 3.7 percent in 2016-17 compared with a decline of 2.5 percent in 2015-16. The increase was because of 5.6 percent increase in prices of fuel and power, and 4.8 percent
increase of prices of primary articles. Manufactured products prices increased 2.6 percent in 2016-17 (3.5 percent in fourth quarter). Retail inflation, as measured by consumer price index (CPI) was higher than WPI at 4.5 percent in 2016-17 though CPI increase was lower at 3.5 percent in fourth quarter.
ANNUAL REPORT 2016-17
15
QUARTERLY GROWTH RATES OF WHOLESALE PRICE INDEX Based on WPI, there has been higher inflation from January 2017 because of high increase in minerals, fuel and power prices. The price of India’s crude oil basket increased from US$ 49 per barrel in third quarter to US$ 54 in the fourth quarter. Inflation rates have edged up in 2016-17 because of recent rebound in world metals and energy prices. WPI increased 5.7 percent in March 2017 caused by high increase in minerals, fuel, and power. Retail inflation was 3.8 percent in March 2017 mainly due to high inflation rates for cereals, sugar, fruits, fuel, and light.
MONTHLY GROWTH RATES OF WPI AND CPI
The External Sector The external sector witnessed strong growth from late-2016 reflecting modest recovery in world trade and higher commodity prices. Following decline for
eight quarters, world trade increased 1.5 percent in the fourth quarter of 2016. The WTO’s World Trade Outlook Indicator points to higher trade growth in the first half of 2017. While India’s exports in value terms (Rs.)increased 8 percent in 2016-17, imports increased 3.1 percent. Encouragingly, both oil and non-oil exports have increased at high rates in recent months. Export volumes of goods and services increased 5.7 percent in 2016 with growth forecast at 6 percent in 2017. Import volumes are also forecast to increase 6.3 percent in 2017 compared with growth of 5 percent in 2016.
INDIA—QUARTERLY TRADE GROWTH (RS.) of imports declined from 18.2 percent in 2015-16 to 16.8 percent in 2016-17. This resulted in a lowering of trade deficit from 5.7 percent of GDP in 2015-16 to 4.7 percent in 2016-17.
India’s merchandise exports reached US$ 277billion (on customs basis) in 2016-17, registering an increase of 5.4 percent. However, exports are 12 percent lower than peak levels of 2013-14. Following three successive years of decline, imports also increased 0.5 percent in 2016-17 to US$ 383 billion. The share of exports in GDP declined from 12.6 percent in 2015-16 to 12.2 percent in 2016-17, while the share
16
ANNUAL REPORT 2016-17
India’s trade deficit has declined from a peak of US$ 190 billion in 2012-13. Higher growth in exports visà-vis imports during 2016-17resulted in a decline in India’s trade deficit from US$ 119 billion in 2015-16 to US$ 106 billion in 2016-17 contributing to a lower current account deficit (CAD). India’s CAD narrowed widened to US$ 7.9 billion (1.4 per cent of GDP) in Q3 of 2016-17 higher than US$ 7.1 billion (1.4 per cent of GDP) in Q3 of 2015-16. On a cumulative basis, the CAD narrowed from 1.4 percent of GDP during April-December 2015 to 0.7 per cent of GDP in April-December 2016. This was because of contraction in the trade deficit.
BALANCE OF PAYMENT INDICATORS share of world imports has also increased from 0.6 percent in 1992-93 to 1.61 percent in 2007, and an estimated 2.2 percent in 2016.
Foreign exchange reserves increased by US$ 9.8billion to US$ 370 billion at end-March 2017.These developments on external account have generated optimism that the Indian economy is better prepared to confront the uncertainties of weak global growth. Other risks include policy uncertainty and possible increase in interest rates in the US; slowdown and rebalancing of the Chinese economy; geopolitical risks arising out of Brexit; and restrictive trade policies. Improvement is also observed on the fiscal front though reduction in expenditure rather than from increased revenue. Nevertheless, the corrections in fiscal and current account deficits augur well for macroeconomic stabilization. The highest ever CAD reported in 2013-14 had led to a slew of problems, including a heavy drop in the value of the rupee, which touched an all-time low of 68.85 against the US dollar in August 2013. However the rupee has appreciated in recent months to around 64-65. From the early-1990s, India’s share in world exports increased from 0.41 percent in 1992-93 to 1.01 percent in 2006, and to 1.7 percent in 2016. India’s
According to the World Economic Forum, India was ranked 39th in the Growth Competitiveness Index of the World Economic Forum’s Global Competitiveness Report, 2016-17. India’s ranking improved from 71st in 2014-15, and 55th in 201516. Quality of institutions and infrastructure is now judged more favourably, though corruption remains biggest obstacle to doing business. India’s ranking by Transparency International improved from 94 in 2013 to 85 in 2014 and to 76 in 2015-16 . Fiscal Health The Union budget 2017-18 has budgeted for lower central government deficit indicators. Gross fiscal deficit as percent of GDP is expected to decline from 3.5 percent in 2016-17(as per revised estimates) to 3.2 percent in 2017-18. The budget has continued on the policy of fiscal consolidation with revised roadmap (target GFD at 3 percent by 2017-18). Growth in tax revenues is budgeted to decline from 15.4 percent in 2016-17 (revised estimates) to 12.7 percent in 2017-18. States’ share in central taxes is budgeted to increase 11 percent in 2017-18 following recommendations by the 14th Finance Commission. Revenue deficit is budgeted to fall from 2.1 percent in 2016-17 to 1.9 percent in 2017-18 because of increase in non-debt receipts. Subsidies as percent of GDP are budgeted to decline from 1.7 percent in 2016-17 to 1.6 percent in 2017-18 because of reduction in petroleum subsidy; and budgeted increase in food subsidy.
CENTRAL GOVERNMENT DEFICIT INDICATORS a growth of 22percent. FDI inflows have however declined from US$ 6.2 billion in October 2016 to US$ 3.3 billion in December 2016.
Foreign Direct Investment
In A pr il-December 2016, the hig hest F DI came in services (US$7.55 billion), followed by telecommunication (US$5.54 billion), and trading (US$ 2 billion). Mauritius led the FDI inflows into India with US$12.82billion, followed by Singapore (US$7.12 billion), Japan (US$ 4.25 billion), and the Netherlands (US$2.5billion).
Foreign Direct Investment (FDI) into India grew from US$ 29.44billion in April-December 2015 to US$ 35.84 billion in April-December 2016, representing
According to UNCTAD, global FDI inflows fell 13 percent in 2016 to US $1.52 trillion because of weak growth in world economic output and trade. Inward ANNUAL REPORT 2016-17
17
FDI flows to developed economies declined 9 percent to US$872 billion. However, developing economies saw FDI inflows decline 20 percent to US$600 billion. India’s FDI inflows were around US$ 42 billion in
2016. With forecast improvement in world economic growth during 2017, global FDI inflows could increase 10 percent in 2017.
FOREIGN DIRECT INVESTMENT INFLOWS BY SECTOR Foreign Portfolio Investment Foreign Portfolio Investment (FPI) inflows in the equity and debt markets in India increased during 2016-17. Overall, net FPI inflows were Rs. 583 billion during 2016-17, compared with outflows of Rs. 49 billion in 2015-16. Inflows rebounded from February 2017, following four months of outflows.
NET INVESTMENTS BY FIIS IN INDIAN CAPITAL MARKETS
Key Indicators:
1.
2.
3.
4.
18
Data categories GDP and Related Indicators GDP (current market prices) Growth Rate GDP (factor cost 2011-12 prices) Growth Rate Per Capita Income Production Food grains Index of Industrial Production (growth) Electricity Generation (growth) Prices Inflation (WPI) (average) Inflation CPI (average) External Sector Export (in US$ terms) Import (in US$ terms) Current Account Balance (CAB/GDP) Foreign Exchange Reserves Average Exchange Rate
ANNUAL REPORT 2016-17
Unit Rs Crore % Rs Crore % Rs.
2014-15
2015-16
2016-17
12,433,749 13,675,331 15,251,028 10.7% 10.0% 11.5% 10,522,686 11,357,529 12,165,481 7.2% 7.9% 7.1% 86,513 94,178 103,818
Million tonnes % %
252.02 2.8% 8.4%
251.57 2.4% 8.3%
273.38@ 0.6% 5.1%
% %
2.0% 5.9%
-2.5% 4.9%
3.7% 4.5%
% change % change % US$ Billion Re/US$
-1.3% -0.5% -1.3% 341.6 61.1
-15.5% -15.0% 1.1% 360.2 65.5
5.4% 0.5% 0.7%# 370.0 67.1&
5.
6.
7.
Data categories Money and Credit Broad Money (M3) (annual) Scheduled Commercial Bank Non Food Credit Fiscal Indicators (Centre) * Gross Fiscal Deficit Revenue Deficit Primary Deficit Population
Note: na: @ # & *
Unit
2014-15
2015-16
2016-17
% change
10.9%
10.1%
10.6%
% change
7.9%
9.1%
9.0%
% of GDP % of GDP % of GDP Million
4.1 2.9 0.8 1,267
3.9 2.5 0.7 1,283
3.5 2.1 0.3 1,300
not available. Thirdadvance estimates. April-December 2016 Average exchange rate (RBI’s reference rate). Fiscal indicators for 2016-17 are based on revised estimates.
Outlook: According to recent estimates by the International Monetary Fund, the Indian economy is poised to grow faster than global average in medium term. Growth is expected at 7.2 percent in 2017, and range between 7.7 percent and 8.2 percent during 2018 to 2022. Growth is expected to be driven by pick up in private consumption, low inflation and higher real incomes; and expected revival of investment and pickup in industrial activity. India’s share of world GDP (PPP terms) forecast to increase from 7.2 percent in 2016 to 9.2 percent in 2022. (Sources: Ministry of Finance, CSO, GOI, Economic Survey - 2017-18; RBI; IMF )
(Courtesy: ICRA Management Consulting Services Ltd.)
TAMIL NADU ECONOMY
T
amil Nadu is one of the progressive states of the country with laudable socio-economic indicators. It is among the most industrialized states in the Country and boasts of a diverse mix of sector and product portfolios. TN is the second largest state of India in terms of the economy, and contributed 8.9 percent to India’s GDP in 2015-16. The State is committed to achieve higher sustainable economic and inclusive growth.
The State enjoys a leadership position in the country with regard to automobiles, auto components, heavy engineering and general engineering industries and also readymade Textiles and Hosiery that have been generating huge employment. The State aspires to attain global leadership and linkages in these sectors.
GSDP of Tamil Nadu at Current Prices (Rs. Crore) Tamil Nadu continues to be an attractive investment destination for investors and is in the forefront of attracting Foreign Direct Investments (FDI), establishing Special Economic Zones (SEZ) and Industrial Parks.Tamil Nadu has a well established transportation system that connects all parts of the State, which has been a significant factor in attracting investments and ensuring all round development. The slow growth of population at 0.9% per annum has resulted in an 11.2% increase in per capital income. Average GSDP Growth rate between2012-13 & 201617was about 12.2%
ANNUAL REPORT 2016-17
19
GSDP per capita of Tamil Nadu at Current Prices ( Rs.)
(Source -Central Statistical Organisation, IMaCS Analysis) Sectoral Growth Rates at Constant Prices
The State has witnessed a slowdown in the last few years in its primary and secondary sector. Issues like power and land availability besides regulatory and procedural hurdles have impeded the growth of the economy to its optimum potential.
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ANNUAL REPORT 2016-17
While the share of Agriculture has declined from 13.4 percent in 2014-15 to 11.6 percent in 2016-17, the share of industry has declined by 1.5 percentage points to 31.5 percent while services have increased by 3.3 percentage points.
Nadu is one of the first states in India to have 100 per cent metalled road connectivity even in the rural areas.
However, the state has managed to retain its position in attracting Foreign Direct Investment (FDI).
Tamil Nadu presently has a 6,031 km rail network, with 536 railway stations. Chennai also has a wellestablished suburban railway network connecting it to the suburbs and neighboring cities. Mass-RapidTransit System (MRTS) is an elevated line of the suburban railway in Chennai.It runs from the Chennai beach to the Velachery suburb, covering a distance of 25 km over 21 stations. It is owned by the Southern Railways. The Metro Rail system under construction in Chennai will cover a distance of 45 kms of which 10 kms is operational. The second phase of the metro rail project is expected to increase the coverage to 130 kms.
FDI Inflows & Investments 1.
Cumulative FDI inflows Rs. 1,260 billion (April 2000 to December 2016) 2. Ranked third behind Maharashtra and National Capital Region 3. Incremental investments during AprilDecember 2016 were Rs. 74.22 billion. 4. Automotive, Construction, Services, and Computer Software/Hardware have attracted investments Cumulative investment attracted by Tamil Nadu through Industrial Entrepreneurs Memorandum (IEM) during the period January 2015 to March 2017 was Rs.269 billion
Infrastructure Port: Tamil Nadu has three major ports, at Chennai, Ennore and V O Chidambaranar; and 23 minor ports. Ports at Cheyyur (Panaiyur), Marakkanam and a combined port facility at Sirkazhi Taluk are under development. The Chennai port mainly handles container cargo, while the Ennore and V O Chidambaranar ports handle coal, ores and other bulk minerals. In 2016-17, the total traffic handled at Chennai, Ennore and V O Chidambaranar ports was 50.2 million tonnes, 30 million tonnes and 38.5 million tonnes, respectively. Together, the three ports accounted for about 18 per cent of the total traffic handled at all major ports across the country. Between 2013-14 and 2015-16, traffic at all major ports in India increased at an average rate of 6.1 per cent. Major ports in Tamil Nadu recorded higher growth of 6.2 percent. Roads: Tamil Nadu has 28 national highways running through it. The state is also an important terminus in the Golden Quadrilateral road link of the National Highways Authority of India (NHAI). The district centres are linked through 187 state highways. Tamil
Railways:
Airports: The State has international airports at Chennai, Coimbatore and Trichy & domestic airports at Madurai, Salem, Tuticorin & a non operational airport at Vellore. In 2016-17, Chennai Airport recorded passenger traffic of 18.4 million & handled cargo of 359 million tonnes.Chennai airport plans to increase the passenger capacity to 30 million and the aircraft movement from 29 per hour to 40. Electronic data interchange (EDI) facility for customs clearance is available at the Chennai Airport. A new integrated terminal building has been constructed at Madurai Airport. Industrial Profile of Tamil Nadu: The Industrial Infrastructure in Tamil Nadu is jointly developed by TIDCO, SIPCOT, TIIC, TANSIDCO.Tamil Nadu Industrial Guidance & Export Promotion Bureau has been constituted with the objective of attracting major investment proposals into Tamil Nadu. As of March 2014, the state had 967,517 registered micro, small and medium enterprises (MSMEs), providing employment to around 6.4 million persons with a total investment of around Rs. 811 billion. As per Annual Survey of Industries, 2013-14, Tamil Nadu had 37,378 factories with total output of Rs. 6,779,573 million and invested capital of Rs. 3,805,337 million. The State has made impressive strides over the years to carve out a niche for itself in the fields of Automobile, Engineering, Information Technology,Textiles, Leather, Electronic Hardware and Hi-Tech. ANNUAL REPORT 2016-17
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KEY SECTORS: Automobiles & Auto Components Tamil Nadu has the largest auto components industry base & accounts for 30 per cent share each in the Indian automotive and auto components industries, 17 per cent in the trucks segment, and 20 per cent each in the passenger cars and two-wheelers segments. Tamil Nadu’s strong performance in the auto industry is because of the presence of skilled manpower with strong engineering capabilities. Chennai is dubbed as the ‘Detroit of India’ for its large-scale auto production infrastructure. Chennai has over 350 Tier I to III suppliers apart from more than 4000 SMEs under Tier IV segment.Chennai is fast emerging as a major export hub of cars for the Southeast Asian and South African markets & has the capacity to produce 12.8 lakh cars and 3.5 lakh commercial vehicles annually. Chennai has a potential to double the automobile production within the next 3 years and the potential to emerge as one of the Top 10 Auto clusters in the world
Tamil Nadu is a leader in renewable energy, more specifically the wind power. The installed capacity of renewables as of March 2017 is around 10,372MW. TN - Power Demand and Deficit
Tamil Nadu Government has signed memorandums of understanding (MoUs) with five auto companies (Daimler India Commercial Vehicles India, Yamaha Motor, Ashok Leyland-Nissan, Eicher Motors and RPG Group company Philips Carbon Black) for an investment of upto US$ 1.7 billion in the state.
The recent Solar policy of the Government is trying to give a thrust to the solar energy projects in the State.
The recent Automobile and auto parts policy focuses on further development and consolidation of automobile and components industry where Tamil Nadu enjoys a comparative advantage and to strengthen this industry as a key driver of economic growth.
Textiles:
The objectives are to promote new auto clusters, competitiveness and cutting costs for the industry, encourage Small and Medium Enterprise vendors, Encourage Public-Private-Partnership initiatives and Industry-Institution partnerships in skill development & to generate additional employment potential for about 5 lakh persons by 2015 in automobile and components industry, double exports by 2016 by ensuring harmonious industrial relations and to make Tamil Nadu “numero uno” in Asia in Automobile and Components Industry. Power: The success of economic growth in an economy with sustainable development critically depends upon the macro economic environment coupled with infrastructural development. As such, power development is one of the key inputs for the overall socio -economic development of a State.
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As per Central Electricity Authority’s (CEA) statistics for March 2017, Tamil Nadu has a total installed capacity of 28,859 MW. Of this the central sector accounts for 5,838 MW, while the state sector accounts for 7,170 MW. The balance installed capacity of 15,852MW is accounted for by private power companies in the state.The installed capacity includes about 2,203MW of hydro power, which is normally used to meet the peak-hour load.
ANNUAL REPORT 2016-17
Tamil Nadu Vision 2023 envisages an investment of US$ 39.6* billion to expand generation capacity by 30,000 MW.
Tamil Nadu is the largest producer of cotton yarn & is known as “Yarn Bowl” of the Country. The State accounts for 40 per cent of India’s installed capacity. The state has a notified SEZ for textiles in Erode district with an area of 103.64 hectares. Coimbatore and Tirupur are the major textile centers in Tamil Nadu. Tirupur is known as the ‘Knitting City’, while Coimbatore is called the ‘Manchester of South India’. Karur, Madurai and Rajapalayam are the other textile centers in the state. The Tiruppur cluster contributes nearly 56 per cent of India’s total knitwear production and about 90 per cent of cotton knitwear exports. The government of Tamil Nadu plans to set up a textile park at Eraiyur village on the Tiruchi-Chennai national highway in Perambalur district. The textile park would be an export-oriented facility and is aimed at increasing the pace of industrialisation in Perambalur district.
Engineering: The state has a network of nearly 3,000 engineering units, employing over 250,000 skilled workforce with a strong base at Chennai, Coimbatore & Salem. State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has set up an engineering products SEZ spanning across 263 acres in Perundurai district. It has also set up a sector-specific SEZ for engineering spanning 260 acres in Ranipet. TIDCO has proposed to set up a sector-specific SEZ for the engineering sector on about 280 acres of land, at an estimated cost of around US$ 219.0 million in Phase-1 of the project. Chemical and Pharmaceuticals: Tamil Nadu has the fourth largest concentration of chemical industries and offers great potential for biotechnology due to its diverse natural resources and human resources. The State accounts for nearly 11% of the pharmaceuticals market in the country. The major chemical centres in TN are Chennai, Cuddalore and Tuticorin. Tamil Nadu promoted TICEL BioPark in Taramani through TIDCO in 2004. The park provides specialized infrastructure for Biotech industry. A second TICEL park was promoted in 2009.The State has manufacturing facilities for fertilizers, paints, carbon black, pesticides, pharmaceuticals, organic and inorganic chemicals etc. IT /ITES Tamil Nadu is ranked 2nd in software exports from India after Karnataka. The State has 22 approved IT Parks and has emerged as a key destination for IT investments.There are 15 operational SEZs for IT/ITeS in the state & has a talent pool of nearly 375,000 professionals. The TIDEL Park in Chennai is spread over 1.28 million sq ft. It is the largest IT facility in India, promoted by TIDCO and ELCOT. Electronics Corporation of Tamil Nadu Limited (ELCOT) has established eight Information Technology Special Economic Zones (ELCOSEZs) in Chennai and seven in Tier-II locations. The land for setting up first International Institute of Information Technology (IIIT) in Tamil Nadu has been identified in Sethurapatti, near Tiruchirapalli.
Banking & Financial Services Tamil Nadu houses approximately 7.5 % of India’s total bank offices. The state had a total of 10,223(Scheduled
commercial banks) banking offices as of December 2016, out of which 1,478 are located in Chennai. As of December 31, 2016, total deposits were Rs. 6,691 billion out of which Chennai accounted for Rs. 2,549 billion. Total credit was Rs. 6,745 billion with Chennai accounting for Rs. 3,355 billion. Other major banking centres are Coimbatore, Kancheepuram, Thiruvallur, and Tiruchirapalli. Financial services industry contributed 5.7 per cent to the GSDP of Tamil Nadu in 2016-17. The industry, valued at Rs. 685 billion in 2016-17, increased at a CAGR (in INR terms) of 10.4 per cent between 2014-15 and 2016-17. Chennai is a key financial centre in south India with major Indian financial institutions and foreign banks having a strong presence in the capital city.
Exports According to the Federation of Indian Exports organisation (FIEO), total exports from Tamil Nadu during 2013-14 was Rs.2,154 billion. Tamil Nadu is ranked Third among Indian States. The percentage of exports from Tamil Nadu in the total exports from India rose from 9 percent in 2010-11 to 11.6 percent in 2014-15.
Outlook: The ambitious Vision 2023 document of the Government has identified few thrust areas with certain important Social & Economic Objectives like becoming Poverty free by 2023, Achieving an average growth rate in GSDP of 11% per annum, Improving per capita income to US$ 10,000 etc. The growth of the manufacturing sector will be a major force in achieving the targets under Vision 2023.In line with Vision 2023, the state aims to step up infrastructure investment from 4-5 per cent of GSDP currently to 10 per cent by 2015 and about 11.5 per cent by 2019. Roads & highways, ports, railways, education and healthcare are likely to see major investments. There has to be a concerted effort by the various departments to ensure the implementation of the projects envisaged under the Vision in order to ensure that the State remains in the forefront of development. For instance, though the power situation has been stable with no deficit, it is imperative for the State to look at additional capacity to address the demand in the coming years.
(Courtesy: ICRA Management Consulting Services Ltd.) ANNUAL REPORT 2016-17
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GENERAL COMMITTEE MEETINGS he Committee met every month regularly and
T
and Special Initiatives, Government of Tamil Nadu.
held 12 meetings during the year for review.
The Committee discussed about the parameters for
Apart from the various regular reviews,
rating the State, benchmarking Industrial Estates and
consultations and discussions, the deliberations
grading them based on their current infrastructure
centered around some of the items as follows:-
and other facilities apart from flagging issues such as development infrastructure projects speedily, setting
Skill Development
up a trade facilitation council to constantly interact
The Chamber’s effort to strengthen the activities of
with the Government etc., Some of the suggestions
the Vocational Training Centre was discussed and
discussed have been taken up by the Chamber for
a Committee was formed under the leadership of
implementation.
Mr. Ram Venkataramani, President, MCCI. Based on the discussion of the subcommittee, the Chamber had entered into a MOU with PAN IIT(PARFI) to set up a joint training facility. The objective is to train the unskilled youth and up skill the semi-skilled work force in order to bridge the skill deficits, promote employability and enhance the availability of well trained and competent human resources at entry level to industries in Tamil Nadu.
GST – A Game changer The Constitution (122nd Amendment) Bill 2014 has been passed in the Parliament by both the Houses in August 2016. This was a significant development to enable the introduction of Goods and Services Tax (GST) in India which would be a major reform ever since India opened its economy 25 years ago. The revamping of the tax systems by introducing GST was expected to be a game changer and required
Suggestions to the Government to ensure ease of doing business As per the discussions held in the Committee, the suggestions given by the Chamber were flagged in the report in “The Hindu” dated 10th December 2016 under the title “Industries want T.N’s policy
It was quite clear that the Trade and industry needs to get prepared to move into the new system once the new tax era begins. The Chamber organized a workshop and due to an overwhelming response, repeated the program again.
engine to rev up”. Further the General Committee
The Committee discussed the subject regularly and
had interactions with two Senior IAS Officers
has made plans to do more workshops for every
in the months of December 2016 and January
sector and sessions exclusively for SMEs. Further,
2017, namely, Mr. Vikram Kapur, IAS who was the
the possibilities of setting a GST Help Desk vis-a-vis
Principal Secretary, Industries Department then
Expert’s corner will be explored.
and Mr. S. Krishnan, IAS, Planning, Development
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deeper understanding of its impacts and processes.
ANNUAL REPORT 2016-17
STATUTORY
180th Annual General Meeting
The 180th AGM of the Chamber was held at Hotel ITC Grand Chola, Chennai.
Business Session Mr. S.G. Prabhakaran, President chaired the meeting and conducted the proceedings. He apprised the members about the various activities of the Chamber during the last one year. A few resolutions were passed. The newly constituted Committee for the year 2016-2017 was announced. Mr. Ram Venkataramani, Managing Director, IP Rings Ltd. took over as President and Ms.Gayathri Sriram, Managing Director, Ucal Auto Pvt Ltd. took over as the Vice President.
and Dr. Amartya’s Sen’s book on “Development of Freedom”and stated that we have come a long way from 1991. He added that in the earlier years there was always a debate about capitalism and socialism in almost all the countries in the world. But in the last 25 years, there has been no major rivalry in ideology in our Country. It is clear that the economic reform unleashed in 1991 is here to stay which is one take away. The Second take away is that there has been a consistent growth which is above 5%. He added that there is no doubt that we need to grow constantly at a certain rate to
Public Session In the Public Session, Mr. S. G. Prabhakaran delivered the welcome address. He elaborated on the activities of the Chamber during the last one year. Dr. Sunder Ramasamy, Officiating Director and Visiting Professor, Madras School of Economics addressed on the topic “Marking the Silver Jubilee of the Economic Reforms – An Assessment”. While discussing about the growth of the Nation, he referred to Mr. Adam Smith’s book on “Wealth of Nations”
Mr.S.G.Prabhakhran welcoming Mr.Ram Venkataramani, the newly elected President, MCCI with a bouquet of flowers
Ms.K.Saraswathi, Secretary General, MCCI announces the names of newly elected Committee Members for the year 2016-17
Mr.S.G.Prabhakhran welcoming Ms.Gayathri Sriram, the newly elected Vice President, MCCI with a bouquet of flowers
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Mr.Ram Venkataramani addressing the gathering during the Business Session
A section of the audience
Dr.Sunder Ramaswamy, Officiating Director & Visiting Distinguished Professor, Madras School of Economics delivering the Special Address
Mr.B.Santhanam, President & Managing Director, Flat Glass-South Asia, Malaysia & Egypt, Saint Gobain Glass India Pvt.Ltd., addressing the audience. Others on the dais ( l to r : Ms.K.Saraswathi, Mr.S.G.Prabhakharan, Dr.Sunder Ramaswamy & Mr.Ram Venkataramani
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come out of our problems. The third take away is the technological revolution which we are experiencing that has brought a massive change in our economy. Stating that India has contained Inf lation in comparison to other countries and has made enormous progress in poverty alleviation. Dr. Sundar ended on a positive note that our growth rates are strong and there are more positives than negatives. Mr. B. Santhanam in his chief Guest address congratulated the Chamber for having their 180th Annual General Meeting and stated that it was extraordinary to note that a Chamber has not missed their meetings in spite of crossing two world wars. He frequently quoted from “Championing Enterprises�, the coffee table book detailing the history of the Chamber with the growth of Madras. He added that there are a lot of small changes made in the recent years by the Government which has ensured the ease of doing business in India. There is a positive vibration in the growth of many sectors and this improvement has to be lauded. He stated it is important for the Industries to be not only relevant, but to stay ahead of the Competitor. He encouraged
the Industries to invest, as huge opportunities are possible in the current economic scenario. Apart from concentrating on a particular Industry, he stated that there are other areas which are gaining importance such as the defense Sector which can be explored. While discussing the various initiatives of the Chamber, he appreciated the unique forum of Women Directors’. With regard to the skill development, he elaborated on the model adopted by his company and stated that there are a lot of schemes of the Government which can be availed to promote this initiative. Further, he stated that the Chamber like MCCI should take the challenge to collaborate with like minded associations and find ways and means to link with others who are in the same space to take forward their initiatives. He thanked the Chamber for giving him an opportunity to share his thoughts Mr. Ram Venkataramani, the President Elect delivered the vote of thanks. The AGM Public Session attended by 200 participants concluded with dinner.
Chief Guests with Immediate Past President, President, Vice President & Secretary General
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29th September 2016 Chamber Day The Chamber celebrated its 180th Chamber Day on 29th September 2016 at Hotel ITC Grand Chola. Mr. Ram Venkataramani in his welcome address mentioned the various major initiatives of the Chamber and welcomed the Chief Guest Mr. N.Srinivasan, Chairman and Managing Director, The India Cements Ltd., and the Guest of Honor, H.E. Mr. Jan Lukyx, Ambassador, Kingdom of Belgium, New Delhi Mr. Jan Lukyx, Ambassador, Kingdom of Belgium, New Delhi, in his address elaborated on the Indo Belgian Trade Relations which is more than 70 years old and added that the Belgian Embassy in India set up immediately after independence in 1947, proved of the longstanding connections between the two nations. He stated that there is a huge scope of growth for the India – Belgium partnership and invited the Indian Business community to do more business with Belgium. Mr. N.Srinivasan, Chairman and Managing Director, The India Cements Ltd. was the Chief Guest. A brief of his address:
Mr.Srinivasan, appreciating the Chamber’s role said, “MCCI,formed in 1836 has a rich history. It is one of the oldest Chambers in the country. It has remained as the most able and respectable voice of trade and industry and business community for nearly two centuries”. Stating that luminaries have led the Chamber, Mr.Srinivasan said he also had the privilege of leading MCCI as its President for two terms during 19961998. In his thought provoking address, he said in the last two decades of reforms and liberalisation, everything had changed in India. Indian Industry had grown like never before and created huge capacity. But, the Indian manufacturing sector is left with facing many challenges and cost burden and it requires a level playing field to be cost competitive. Articulating his views on the growth of Indian economy post liberalisation (since 1991), he said Indian corporate had free access to capital, technology and India was flooded with imports and foreign investment.
Mr.Ram Venkataramani, President, MCCI welcoming H.E.Mr.Jan Luykx, Ambassador, Kingdom of Belgium, Mr.N.Srinivasan, Vice Chairman & Managing Director, The New Delhi addressing the audience India Cements Ltd., delivering the Chief Guest Address the gathering
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ANNUAL REPORT 2016-17
A view of the audience
Ms Gayathri Sriram, Vice President, MCCI delivering the Vote of Thanks
After years of buoyancy, Indian economy had languished during the last stages of UPA regime and it has not picked up as expected in the current NDA regime. Adverting to the Make in India policy, Mr. Srinivasan said, “We are already making in India. Indian manufacturing sector is competitive, we can be competitive. It is easy to say you must be cost competitive, but do we have a level playing field on the taxes front?”, he posed.
Chief Guest with MCCI Committee Members / Past Presidents (l to r : Ms.K.Saraswathi, Secretary General, MCCI; Mr.N.Venkataramani, Mr.S.G.Prabhakharan, Mr.T.T.Srinivasa Raghavan, Mr.N.Srinivasan, Mr.L.Sabaretnam, Mr.Srinivasan K Swamy, Past Presidents;, Mr.Ram Venkataramani, President & Ms.Gayathri Sriram, Vice President
“Today, it is so difficult to run an industry when the doors are open to anyone wanting to set up a project. Indian industry is forced to running a race with legs and arms tied. The resilience and fighting spirit of an Indian entrepreneur is something to be seen to believe. The manufacturing sector must be saluted for operating in difficult times”, he said as the audience listened to his address with rapt attention. At the same time, taking a macro view, he said in the near future, with its intrinsic growth, Indian economy is set to become the third largest economy after USA and China His message to entrepreneurs was, “No room for complacency. Times are changing. Be vigilant. Innovations are taking place. It is a borderless world.
Chief Guest with MCCI Secretariat
Ms. Gayathri Sriram, Vice President proposed the vote of thanks.
The IT industry grew in tandem and supported imports. Along with FII, The meeting attended by more than FDI and foreign investments in various shapes and forms had helped 200 participants concluded with Dinner. the country to build forex of $ 350 Billion. ANNUAL REPORT 2016-17
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SPECIAL PROGRAMS
21st October 2016 Launch of “She Leads” The British Deputy High Commission (BDHC), Chennai, Madras Chamber of Commerce and Industry (MCCI) and Women of Worth(WOW), a Chennaibased NGO, launched a new campaign called “SHE LEADS” at the British High Commission premises, Anderson road, Chennai on 21st October 2016. She Leads was a campaign to identify top 10 women chosen through a social media contest series, open for graduate and post graduate students from across India. With live campus presentations and an online presence throughout the countr y, the contest was aimed at identifying the student’s potential and natural ability to be a leader and hoped to inspire young women to pursue careers in business, entrepreneurship, politics, education which are traditionally occupied by men. The campaign intended to thus bridge the gender gap and tap into the middle class women who are often overlooked and are undecided about their profession and contribution to society despite a high level of education. Mr. Bharat Joshi, Deputy High Commissioner, BDHC, while speaking at the launch on 21st October 2016, stated that BHDC is happy to partner with MCCI and WOW. He stated that the project will
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not only raise awareness on the gender equality gaps but also recognize young women and students who have the potential to be a leader in their area of interest and pursue their dreams. Ms. Tammy Sandhu, Deputy Head of Mission, BDHC addressed about the status of women in other countries and stated that the selected candidates would be invited to motivational talks by high profile UK and Indian Women to help them emerge as next generation leaders. Ms. Saraswathi, speaking on behalf of MCCI said “The last two decades have seen a sea change in the status of women. They have entered every field of activity. But this Change has not been uniform across all levels. Also, new challenges have emerged alongside. Women want to be treated as equals so much so that if a woman rises to the top of her field it should be a commonplace occurrence. This can only happen if there is a channelized route for the empowerment of women.” Speaking on behalf of Women of Worth, Ms. Kangaraj said, “Leadership empowerment opportunities for young women is so crucial if we are serious about an India without gender inequalities now and in the future. Equal opportunity for women will become a reality when women are included, recognized and appointed as leaders in all spheres of work. We can do this by constantly challenging our society’s attitude towards women’s roles and capacities. We are here to say to young women – move on and do not give up. Be fierce. Live your dream!” The She Leads logo was launched in the presence of 40 representatives from Industries and Academia.
She Leads launch - Mr.Bharat Joshi, British Deputy High Commissioner, BDHC Chennai, Ms.K.Saraswathi, Secretary General, MCCI ; Ms.Tammy Sandhu, Deputy Head of Mission, BDHC, Chennai & Ms Fenny Kanagaraj, Women of Worth with She leads logo.
28th February 2017 She Leads Awards Ceremony followed by Dinner Reception for the Winners The “She Leads” Project, a campaign to identify and empower young women from across the country, through a social media contest, open for undergraduate and post graduate students, had a wide reach throughout the country, 160 women were shortlisted in the first round through a quiz. In the second round, the contestants took part in an essay competition and 20 shortlisted candidates were called for a personal interview. A three member Jury from the partner organizations selected top 10 women studying in colleges to be the Winners of this contest. The identified winners from different States including 4 from Tamil Nadu were recognized and awarded in a ceremony organized in CLT Auditorium, IIT Madras, Chennai on 28th February 2017 Ms. Sruthi Hassan from Media & Entertainment, Ms.Aishwarya Manivannan, Silambam Artist and Ms. Hufriz Wadia, Corporate Lawyer were the guests who had a discussion with Mr. Bharat Joshi, British Deputy High Commissioner, British Deputy High Commission, Chennai and Ms. Tammy Sandhu, Deputy Head of Mission and Head of Department for International Trade, on the topic “Tackling gender equality in male dominated Industries”, followed by a short cultural activity. The target audience were students from 21 colleges totaling 400, plus a few faculty members. A few queries by the participants were taken up for discussion.
Chief Guests Ms.Sruthi Hasan, Media & Entertainment, Ms Aishwarya Manivannan, Silambam Artist and Ms.Hufriz Wadia, Corporate Lawyer along with Mr.Bharat Joshi, British Deputy High Commissioner, BDHC, Ms.Tammy Sandhu, Deputy Head of Mission and Head of Dept. for International Trade, BDHC and Ms.K.Saraswathi, Secretary General, MCCI at the Awards ceremony of She Leads
The 10 winners were presented with the “SHE LEADS” award. The Awards Ceremony was followed by a Dinner Reception at Cottingley, British Deputy High Commission for the winners and select invitees. Her Excellency, Lt. Governor of Puducher y, Dr. Kiran Bedi IPS Retd.was the Chief Guest for the Dinner Reception. Dr. Bedi answered queries from participants ranging from her achievements to how to tackle crimes against women, and what should be done to become a leader etc. 40 invitees including the winners had dinner with the Chief Guest and interacted informally. The She Leads Campaign showcased the talent of young women to become potential leaders in future.
She Leads Project Winners with the Chief Guest
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26th August 2016 Workshop on GST – The new Horizon The Constitution (122nd Amendment) Bill 2014 had been passed in the Parliament by both the Houses. This was a significant development to enable the introduction of Goods and Services Tax (GST) in India which would be a major reform ever since India opened its economy 25 years ago. The revamping of the tax systems by introducing GST was expected to be a game changer and required deeper understanding of its impacts and processes. Hence, the Chamber with M/s K.Vaitheeswaran & Co. Advocates & Tax Consultants as the Knowledge Partner and Tax Sutra as the media Partner organised a one day workshop on GST – A New Horizon at Hotel Rain Tree, Anna Salai. Mr. T. Shivaraman gave the opening remarks. Mr. C.P. Rao, IRS, Chief Commissioner of Service Tax, Chennai appreciated the Chamber for this initiative of creating awareness about GST to the Industries. He added that in his 30 years of service, he had noticed a vast change in the Tax Administration. The Attitude had changed from enforcement to facilitation. The Tax Department does not deal with tax payers with a heavy hand, but considers them as partners in growth. Further, he stated that there are a lot of changes made in central excise, service tax and in customs and most of these reforms are done to ensure ease of doing business. In the First Session, Mr. K. Vaitheeswaran made a detailed presentation on the Overview of GST. He made an analysis of the current tax system in Central
A section of the audience
and State and explained about the different forms used for Border Control. His presentation also covered on GST so far and the road map and relevance of GST in India. Further, Mr.Vaitheeswaran presented the Model GST Law based on existing provisions and what is proposed. He presented the issues of concern for the Manufacturing sector apart from making a comparison on the procurements – local, Inter State, import etc. Mr. CVS Krishnakumar, Director, Kone Elevators India Ltd., in his presentation on Input Tax Credit under the GST Regime elaborated on what to look for, whether it would be seamless as envisaged by the Government, the various restrictions and requirements under GST. Mr. K.K.Ravichandran IRS, Commissioner of Central Excise, Central made a presentation on the GST Registration, Return, Invoice Matching, Payment of Tax, refunds and the provisions which are different from the existing laws.
Speakers in the Panel Discussion interacting with audience (l to r : Mr.R.Gopakumar, Associate Director, Cognizant ; Mr.P.R.Subramaniyan, Head – Indirect Taxes, L & T Construction and Chairman, MCCI VAT Committee ; Mr.K.Vaitheeswaran, Chairman, MCCI Indirect Tax Committee ; Mr.J.Krishnan, Member, MCCI General Committee & Partner, S.Natesa Iyer & Co., Mr.S.V.Krishnan, CFO, Redington India Ltd. & Mr.Deepak Mathur, Sr. Director - Legal PepisiCo India Holdings Ltd.)
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Mr. K.K.Sekar, Head – Indirect Taxes, Ashok Leyland Ltd., elaborated on the Time and place of Supply of goods, Intra unit and Inter unite removal of goods, Tax Holiday Zones, Job Work Procedure. He analysed the above with critical points and challenges. Mr. Vaitheeswaran made a presentation on “Are we reinventing the Wheel” on the Valuation of Goods and Services under the GST Regime. The Panel Discussion on the topic GST – Benefits and Issues for various Sectors had the following experts share their views followed by an interactive session with the participants.
Mr. P.R.Subramaniyan, Head- Indirect Taxes, L & T Construction on the Construction and Infrastructure sector; Mr. R.Gopakumar,Associate Director, Cognizant Technology Solutions on the IT Industry; Mr.J.Krishnan, Partner, S.Natesa Iyer & Co., & Member, MCCI General Committee on Transport and Logistics Sector; Mr.Deepak Mathur, Sr. Director – Legal, PepsiCo India Holdings Ltd. on FMCG and Mr.S.V.Krishnan, CFO, Redington India Ltd. on Trading. There was an overwhelming response for the workshop which was attended by 200 participants.
9th September 2016 Workshop on GST – The New Horizon (2nd Batch) A repeat program on GST was organised to benefit the members who could not attend the first workshop with M/s K.Vaitheeswaran & Co. Advocates & Tax Consultants as the Knowledge Partner and Tax Sutra as the media Partner. The speakers were the same except for a few who are mentioned below. Mr. M Parameshwaran, Joint Commissioner (Central), Commercial Taxes Dept.,Govt. of Tamil Nadu, Chennai made a detailed presentation on the GST Registration – Law and Business Process. The Panel Discussion on the topic GST – Benefits and Issues for various Sectors had the following experts share their views followed by an interactive session with the participants.
•
Mr. P.R.Subramaniayan, Head- Indirect Taxes, L & T Construction on the Construction and Infrastructure sector,
•
Mr. R.Gopakumar, Associate Director, Cognizant Technology Solutions on the IT Industry,
•
Mr. G Raghu Sankar, Executive Director, International Clearing & Shipping Agency (India) Pvt. Ltd. on Transport and Logistics Sector and
•
Mr.T.G.Ramakrishnan, Consultant – Indirect Taxation, Hindustan Unilever Ltd, Mumbai on FMCG.
The meeting was attended by 90 participants. The Chamber plans to hold a series of workshops on GST for creating awareness and dissemination of knowledge.
Speakers interacting with audience during the panel discussion. l to r : Mr.G.Raghu Sankar, ED, ICSA, Mr.K.Vaitheeswaran, Mr.T.G.Ramakrishnan, Consultant – Indirect Taxation, Hindustan Unilever Ltd, Mumbai , Mr.R.Gopakumar, Associate Director, Cognizant Technology Solutions & Mr.P.R.Subramaniyan, Head – Indirect Taxes, L & T Construction and Chairman, MCCI VAT Committee
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9th & 10th November, 2016 5th Anniversary of Sustainable Chennai Forum & City Level Workshop on Chennai Urban Observatory The Sustainable Chennai Forum (SCF) was launched on November 9, 2011, with the objective of assisting and promoting a business case for sustainable development and for evolving a congenial policy and action oriented environment for sustainable development in collaboration with likeminded institutions. Through this forum, the Chamber focuses on areas like Energy, Water, Waste Management, Transport and Urban Greening. E v e r y ye a r t h e S C F anniversary is celebrated on 9th November and a workshop / seminar is organized on a connected to p i c . O n t h e t h i rd Anniversary in 2014, the Chamber had organized a Seminar on “Inclusive Urban Prosperity” with National Institute of Urban Affairs (NIUA) as the Knowledge Partner. In continuation of the action plan formulated in the above seminar to have a Chennai Observatory and to mark the 5th anniversary of SCF, the
Mr.Dharmendra Pratap Yadav, IAS, Secretary to Govt., Housing & Urban Devp. Dept. delivering his Chief guest address. Others on the dais ( l to r : Ms.K.Saraswathi, Secretary General, MCCI ; Prof.Michele Clarke, Associate Pro Vice Chancellor, University of Nottingham ; Mr.Ram Venkataramani, President, MCCI ; Dr.Ajit Kaliyath, Indian Principal Investigator, UK-India Joint Network on Sustainable Cities & Ms Gayathri Sriram, Vice President, MCCI)
Chamber organized a City Level workshop on Chennai Urban Observatory with NIUA as a Knowledge Partner on 9th and 10th November 2016 at Hotel Taj, Mount Road, Chennai. This workshop is part of the series of workshops in several cities including Chennai, which is being conducted under UK-India Joint Network on Sustainable Cities by the University of Nottingham along with its partners. This workshop paved way to prepare a business plan for setting up a Chennai Observatory. In the Inaugural function, Mr. Ram Venkataramani welcomed the partners and the participants. Dr. Ajith Kaliyath Indian Principal Investigator, UK-India Joint Network on Sustainable Cities briefed the participants about the “New Urban Agenda and Chennai’s Opportunities”. Prof. Michele Clarke, Associate Pro Vice Chancellor, University of Nottingham outlined the role of the Universities in setting up Global Cities. The Chief Guest Mr. Dharmendra Pratap Yadav, Housing and Urban Development Secretary and Vice-Chairman, CMDA, in his Key Note Address on “Visioning Chennai as a Global City” stated that Observatories are welcome as they would help the Government to find solutions. Ms. K. Saraswathi, Secretary General of the Madras Chamber briefed about the future plans of the Sustainable Chennai Forum which included setting up a Chennai Observatory.
A view of the audience
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Prof.Michele Clarke, Associate Pro Vice Chancellor, University of Nottingham making a presentation
Delegates during the Group Discussions
Mr.T.Shivaraman, Managing Director & CEO, Shriram EPC & Past President, MCCI interacting with audience during the High Level Panel Discussion. Others in the picture:- l to r:-Dr. Rajeevan Krishnaswamy, IAS (Retd.) & Dr. Sunder Ramaswamy, Officiating Director and Distinguished Professor, Madras School of Economics
Ms. Gayathri Sriram, Vice President, proposed the formal vote of thanks. In the first Thematic Session on Chennai as a Global City, Dr.Vijay Pingale, IAS, Joint Secretary, Industries Department, GoTN addressed on the Role of Trade, Industry and Government. Further, speakers such as Mr. R. Raghuttama Rao, Managing Director, IMACS made a presentation on the topic ‘Socio –Economic Dynamics in the City’, Mr. K. Venugopal, Director, Kasturi & Sons made a presentation on ‘Making Cities Efficient and Livable’. In the second session on Chennai’s Challenges/ Conflicts, Dr. Sunder Ramaswamy, Officiating Director and Distinguished Professor, Madras School of Economics chaired the session. Dr. B. Chandramohan, IAS., Secretary to Government, Revenue Dept., GoTN made a detailed presentation on the Chennai Floods in December 2015 and the efforts taken by the Government for flood relief. Mr Suchith Anand from the University of Nottingham addressed on the Disaster Risk Reduction for Smart City Chennai followed by Dr.Gitakrishnan Ramadurai, Assistant Professor, Department of Civil Engineering, IITM making a presentation on ‘Issues of Human and Material Mobility in the City’. In the Third Session on ‘UK India Joint Network on Sustainable Cities – City Level Workshop’, Prof. Michele Clarke, Associate Pro Vice-Chancellor of the University of Nottingham, elaborated on the Urban Observatory of Bristol which helps the public understand the city better through citizen participation. Mr. G.Rajesh,Head – Strategic Consulting, Urban Solutions, JLL, made a presentation on the Smart City Concepts and the details of the Chennai Smart City proposal.
Mr.Selvadurai , Chief Planner, CMDA, Chennai made a detailed presentation on Chennai which included CMDA Jurisdiction, history of Chennai City, Master plan and second master plan of CMA & the first master plan initiatives. In the break out session, the participants were divided into 4 groups to discuss on the following topics and to share their inputs. • Challenges of global cities • Role of Technology in Governance • Institutional Ecosystem • Need for Capacity Building • Building an urban data system • Conventional vs Big Data • Role of Institutional Partnerships • Opportunity for International Partnerships On day 2, Mr. R. Vittal Raj, Partner, Kumar & Raj made a presentation on the topic ‘supporting data revolution for Public Good’. Prof. Sudhir Chella Rajan, Department of Humanities and Social Sciences, IITM, Chennai while presenting the Conceptual Foundations for Urban Observatory took the case of Sriperumbatur and elaborated on the same. Similar exercise of dividing the participants into groups was done for discussion and presentation on the following topics were made:• Opportunities under Smart City, Chennai • Date needs for Chennai Observatory • Enabling Citizen Engagement • Establishing Global Network A high level panel with Dr. Rajeevan Krishnaswamy IAS (R) Dr. Sunder Ramaswamy, Officiating Director and Distinguished Professor, Madras School of Economics and Mr.T.Shivaraman, Managing Director & CEO, Shriram EPC & Past President, MCCI were present to hear the consolidation of the discussions and to submit their suggestions and inputs. Dr. Ajith Kaliyath made a presentation wherein he dealt with the larger context of setting up the Observatory, the objectives of Chennai Urban Observatory (CUO), stakeholders for CUO, Key data, expected outputs, critical pathways, work packages and legality and institutionalization. Mr. Anand, NIUA moderated the session and sought suggestions from the high level panel who contributed by giving their inputs for way forward. The workshop had 50 participants who actively took part and gave their suggestions in the breakout sessions. Ms. Saraswathi concluded the workshop by formally proposing the vote of thanks to the high level panel and the participants. ANNUAL REPORT 2016-17
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FLAGSHIP ACTIVITIES
2nd & 3rd December, 2016 4th Power Conference on “Creating a Secure, Sustainable and Vibrant Energy Future for Tamil Nadu The Madras Chamber, in association with India Energy Forum, organized the 4th Power Conference on “Creating a Secure, Sustainable and Vibrant Energy Future for Tamil Nadu” on 2nd & 3rd December, 2016 at the L & T Auditorium. ICRA Management Consulting Services (IMaCS) was the Knowledge Partner and L & T Construction, Chennai was the Industry Partner for this Conference. The sponsors for this Conference were Grundfos Pumps India Pvt Ltd, Trip Midas, State Bank of India and Socomec. Mr. Ram Venkataramani, President, MCCI in his welcome address set the tone for the conference on a positive note by stating that Tamil Nadu’s power deficit has been reduced significantly and is in a position to become power surplus in 2018. Mr. Anil Razdan IAS Retd. President, IEF stated that Tamil Nadu enjoys a leadership position amongst all states in India and the power situation has improved significantly in the last 4 years. Mr. Raghuttama Rao, MD, ICRA Management Consultancy Services, in his presentation elaborated on the current power scenario in Tamil Nadu. Mr. T. Madhavadas, Executive Vice President & Head – Power Transmission & Distribution Business, L & T Construction, Chennai in his address mentioned
about L & T’s role in the Tamil Nadu Power Sector. Mr. Rajeev Ranjan IAS – Additional Chief Secretary to Government - Highways and Minor Ports Department and Energy Department(In-charge), Government of Tamil Nadu in his Chief Guest address reiterated that Tamil Nadu has maintained a leadership position in Renewable Energy and has been able to come out of its power deficit situation. He detailed on the Challenges for TANGEDCO and TNERC in his address The inaugural was followed by 4 Technical Sessions which had the following eminent speakers.
Technical Session- 1 : Planning for Energy Infrastructure Mr.S.Krishnan, IAS, Principal Secretary (Planning & Development) OSD Fourteenth Finance Commission & Special Initiatives (Full Additional Charge), Govt. of Tamil Nadu was the key note speaker in the first session. Chaired by Mr. Anil Razdan, IAS Retd., Former Secretary, Power, GoI, the speakers for the Session were • • •
Mr.V.Thangapandian, Director – Power, Neyveli Lignite Corporation Mr. S. Shivakumar, General Manager, Coastal Energy Pvt. Ltd. Mr. Y.R.Mehta, Former Director, GAIL
Mr.Rajeev Ranjan IAS., Additional Chief Secretary to Government, Highways and Minor Ports, Dept. & Energy Department (In Charge), GoTN delivers the Chief Guest Address. Others in picture (l to r : Ms.K.Saraswathi, Secretary General, MCCI, Mr.Raghuttama Rao, Managing Director, ICRA Management Consulting Services Ltd, Mr.Ram Venkataramani, President, MCCI, Mr.Anil Razdan, IAS (Retd.), President, IEF, Delhi & Mr.T.Madhavadas, Executive Vice President & Head – Power Transmission & Distribution Business, L & T Construction, Chennai).
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Technical Session – II - Economic and Regulatory Enablers • • •
Mr.H.L.Bajaj, Former Chairman, CEA, Ex Officio Secretary to GoI and Former Member, APTEL Mr. J. George, VP, Operational Energy Group India Mr. Anand Madhavan, GM, ICRA Management Consulting Services Ltd
Technical Session – III- Demand Side Management and Energy Efficiency •
• •
Mr H.L. Bajaj. Former Chairman CEA, Ex- Officio Secretary to GoI and Former Member APTEL was the Chairman of the Session. Mr. C.S. Raghuram, Director, C.R.Narayana Rao Architects. Mr. Karthigeyan BA, Area Sales Manager, Keselec
Mr.Anil Razdan moderating the Technical Session – 1 (Speakers on the dais (l to r : Mr.V.Thangapandian, Director – Power, NLC Ltd., Mr.Ram Venkataramani, President, MCCI, Mr.S.Krishnan, IAS., Principal Secretary (Planning & Devp), GoTN, Mr.S.Shivakumar, General Manager, Coastal Energy Pvt. Ltd. & Mr.Y.R.Mehta, Former Director, GAIL
Mr.H.L.Bajaj, Former Chairman, CEA, moderating the Technical Session – II (Other Speakers Mr.J.George, Vice President, OEG India Ltd. (L) & Mr.Anand Madhavan, General Manager, ICRA Management Consulting Services Ltd., ( R )
Ms.K.Saraswathi welcoming the speakers of the Technical Session – III. Speakers on the dais (l to r : Mr.C.S.Raghuram, Director, C.R.Narayana Rao Architects ; Mr.Karthigeyan BA, Area Sales Manager, Keselec Schreder Private Ltd., Mr. H.L.Bajaj, Former Chairman, CEA, Ex Officio Secretary to GoI & Dr.J.Nagesh Kumar, Director, CEEP)
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Schreder Pvt Ltd., Dr. J. Nagesh Kumar, Director, Centre for Energy, Environment & Productivity (CEEP)
Technical Session –IV - Ushering Green Energy and Renewables •
Dr. S. Gomathinayagam- Director General, National Institute of Wind Energy chaired the session • Mr. Madhusudhan Khemka, Managing Director, ReGen Powertech Pvt. Ltd. • Mr. A. Balakrishnan, General Manager (Technical) Tamil Nadu Energy Development Agency, (TEDA) • Mr. K.E. Raghunathan, MD, Solkar Industry Ltd • Mr. S. Venkatachalam- Managing Director, Orient Green Power Co. Ltd • Mr. T. Shivaraman, Managing Director & CEO, Shriram EPC Ltd., and Past President, MCCI in his valedictory address stated there is a change in Power scenario in Tamil Nadu and that we are moving ahead in the right direction. The two day conference concluded on a positive note with a participation of 85 persons who had a lively interaction with the speakers.
Mr.Madhusudhan Khemka, MD, ReGen Powertech Pvt.Ltd. answering a query during the Q & A Session in the Technical Session – IV. Others in the picture are (l to r : Mr.S.Venkatachalam, MD, Orient Green Power Co.Ltd., Chairman MCCI Energy Committee, Dr.S.Gomathinayagam, Director General, NIWE, Mr.A.Balakrishnan, General Manager (Technical), TEDA & Mr.K.E.Raghunathan, Managing Director, Solkar Solar Industry Ltd.)
Mr.T.Shivaraman, MD & CEO, Shriram EPC Mr.P.B.Varadarajan, President, REHENA Ltd., & Past President, MCCI delivering his and Co-Chairman, MCCI Energy Committee valedictory address proposing the vote of thanks
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3rd February 2017 Post Budget Workshop on Central Budget & Finance Bill 2017-2018 A workshop on Central Budget and Finance Bill 2017-2018 was organized on February 3rd 2017 at Hotel GRT Grand following the release of the Union Budget on 1st February 2017 by the Finance Minister, Government of India. Mr. M. Govinda R ao, Member, 14 th Finance Commission &Professor Emeritus, National Institute of Public Finance & Policy, New Delhi , Special Guest set the tone for the event by his insightful analysis of the macroeconomic picture of the budget. Mr. Sriram Seshadri, Chairman, MCCI Expert Committee on Direct Taxes & Partner, Price Waterhouse & Co.LLP made a detailed analysis on the entire range of issues concerning Direct Taxes. The presentation helped the participants to gain a comprehensive understanding of the recent changes and their consequences.
Dr.M.Govinda Rao, Member, 14th Finance Commission & Professor Emeritus, National Institute of Public Finance & Policy, New Delhi giving a Special Address
Mr. K. Vaitheeswaran, Chairman, MCCI Expert Committee on Indirect Taxes & Advocate and Tax Consultant made an analysis of the issues relating to Indirect taxes using the analogy of the title of films. The overall response for the program was positive and it was attended by 50 persons.
A view of the audience
Mr.K.Vaitheeswaran, Chairman, MCCI Expert Committee on Indirect Taxes & Advocate and Tax Consultant and Mr.Sriram Seshadri, Chairman, MCCI Expert Committee on Direct Taxes & Partner, Price Waterhouse & Co. LLP interacting with audience during Q & A Session.
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17th & 18th February 2017 Two Day Conference on Direct Taxes Under the auspices of the Direct Taxes Committee, a two day conference on Direct Taxes was organized at Hotel GRT Grand. Chennai The objective of the Conference was to discuss contemporary trends in the fields of international tax, transfer pricing, BEPS and GAAR. Mr. Sriram Seshadri, Chairman, Expert Committee on Direct Taxes welcomed the participants and gave an overview of the two day Conference. Mr. Ajit Kumar Shrivastava IRS.,Principal Chief Commissioner of Income Tax, Chennai was the Chief Guest who inaugurated the Conference. He informed that there is a sea change in direct taxation. He elaborated on the development of IT which has played a key role in bringing the necessary changes. He further added that tax laws are dynamic which are to be constantly updated and such conferences would definitely pave way for providing the necessary awareness. He recorded his appreciation for the topics chosen and extended an invitation to the participants to be in touch with his office for clarifications, if any, and added that the Tax department officials would be happy to render their support. The Inaugural session was followed by technical sessions on the following topics on day one :-
• • •
FEMA Issues on Shares and Debentures GAAR & PoEM – Practical issues BEPS – A Primer
And day two had the following sessions:• Recent Landmark Rulings • Constitutional Remedies under Taxing Laws • Transfer Pricing disputes in Manufacturing Sector • Emerging Issues in International Transactions The above mentioned topics were addressed by eminent speakers such as Mr. Manoj Kumar, Par tn e r, B M R A ss o c i ate s L LP, B e n g a l u r u ; Mr. Promode Murugavelu, Partner, Shardul Amarchand Mangaldas & Co., Advocates, Delhi; Mr. Krishnan Parameshwaran, Director – Taxation, Deloitte Haskins & Sells LLP, Chennai; Mr. N.Venkataraman, Senior Advocate, Supreme Court, New Delhi, Mr. K. Vaitheeswaran, Advocate & Tax Consultant & Chairman, MCCI’s Indirect Tax Committee; Mr. Sivam Subramanian, Director, Price Waterhouse & Co.LLP, Chennai, Mr. K K Chythanya, Advocate, Bengaluru and Mr. Sriram Seshadri Partner, Price Waterhouse & Co.LLP, Chennai & Chairman, MCCI’s Direct Taxes Committee
Tax Issues on M & A Transactions like Amalgamation, Demerger and Slump sale
The sessions were attended by a select group of 25 persons. The presentation and interactions were greatly appreciated by the Delegates.
Mr.Sriram Seshadri, Chairman, MCCI Expert Committee on Direct Taxes & Partner, Price Waterhouse & Co. LLP welcoming the Chief Guest and gathering
Mr.Ajit Kumar Shrivastava, IRS., Principal Chief Commissioner of Income Tax, Chennai delivering the Chief Guest address
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3rd March 2017 Conference on CSR – The Emerging Trends The Chamber had a successful conference on CSR – The Next Phase in February 2016, with the objective of discussing the path of CSR post 2013 regime and the challenges and opportunities faced, while carrying out the CSR activities. Based on the positive response received last year and as a responsible Chamber encouraging CSR spending in a right way, the Chamber, under the auspices of its Expert Committee on CSR , organised a Conference on ‘Corporate Social Responsibility’ at Hotel Crowne Plaza, Chennai.
MCCI CSR VISION The Madras Chamber of Commerce & Industry (MCCI) will constantly endeavor to encourage Corporate Social Responsibility among its members, promote positive experiences and environment and facilitate initiatives that enable people and organizations to thrive & help stake holders to enhance their economic, environmental and social aspects of their business. Mr. Vasudevan formally launched the Certificate Program and the Course Content was received by Ms. Rajashree Natarajan,
The objective of this year’s Conference was to understand the CSR agenda and implementation process by Corporate and NGOs. Mr.V.M.R ajasekharan, Chairman, MCCI CSR Committee & CEO, ITC Ltd. extended a warm welcome to the participants and informed about the initiative of the Chamber in launching the MCCI Certificate Program on CSR. Mr. Mr B.Shanmugasundaram, AGM– Secretarial, Sundaram Fasteners Ltd. & Member, MCCI CSR Committee who was instrumental in selecting the topics and designing the course materials gave an introduction about the course and the contents that would be covered in the course. Mr.P.N.Vasudevan, Managing Director & CEO, Equitas Small Finance Bank Ltd., Chennai, the Chief Guest formally released the MCCI CSR vision statement and it was received by Mr. N.Srinivasan, GC Member and Senior Partner (Retd.) F & R.
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Chief Guest, Mr.P.N.Vasudevan releases the MCCI CSR Vision Statement and Mr.N.Srinivasan, Past President, MCCI receiving the same.
Mr.P.N.Vasudevan, Managing Director & CEO, Equitas Small Finance Bank Ltd. addressing the participants. Others on dais (l to r : Ms.K.Saraswathi, Secretary General, MCCI ; Mr.B.Shanmugasundaram, Member, MCCI CSR Committee ; Mr.V.M.Rajasekaran, Chairman, CSR Committee; Ms.Rajshree Natarajan, Co-Chair, CSR Committee & Ms.Lakshmi Krishnan, AVP, Nextgen.
Co- Chairperson, MCCI CSR Committee & COO, Cognizant Foundation Mr. Vasudevan in his Chief Guest address briefed on the various CSR models adopted by Equitas and extended his support to the participants. The inaugural was followed by a session on Corporate sharing case studies. Mr. John Stephen, Head, HR –MAB SUB, ITC Ltd., and Ms. Mangalam Balasubramaniam,Exnora Green, shared their project on Mangal Deep Green Temple wherein they have made Kapaleeswarar temple environment friendly.
A view of the audience
M r. R e y n o l d F e r n a n d e s , C E O Oriental Cuisines Private Ltd., made a presentation about their various initiatives and explained how their Chairman Mr. Mahadevan continues to be an inspiration and added that they are silently continuing their various CSR projects. Mr. S. Sarathi, Sr.VP, Anand Automotive Ltd., focussed on SNS Foundation, the CSR Wing of Anand Group and elaborated on the pre 2013 period when they had projects on skill Development, Infrastructure, Village development and the post 2013 projects on Education, Infrastructure, Skill Development, Village development In the Session for NGO cases, a representative from Madhi Foundation and Care India, Mr. Senthil Kumar, Founder Payir and Mr. Akshay Madhavan from Slum Soccer showcased their various activities to the participants. This session was followed by a panel discussion on the topic, ‘Maximizing Stakeholder returns in CSR” moderated by Ms. Lakshmi Krishnan, AVP, Next Gen. Ms. Lakshmi elaborated on the role of Next Gen in guiding the CSR initiatives of the Corporate. Mr.S.Madhavan, CEO, Cognizant Foundation; Mr.M.Muthukumarswamy, VP, Company Secretary & Compliance O fficer, Reding ton India Ltd.;
Ms.Lakshmi Krishnan, AVP, Next Gen interacting with Audience & Panelists during the Q & A Session.
Ms.Rajashree Natarajan, Co-Chairman, CSR Committee proposing the vote of thanks
Mr Dr.N.Jeyaseelan, CEO, Hand in Hand and Mr Rohid Chaudhary, Regional Director, Akshaya Patra shared their insights on the above topic and were happy to answer the queries from the participants. Ms. Rajashree Natarajan, Co- Chairperson, MCCI CSR Committee & COO, Cognizant Foundation formally proposed the vote of thanks and made a special mention about the Sponsors who contributed to the conference. The Conference was attended by 100+ participants and the feedback received was excellent. ANNUAL REPORT 2016-17
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A Special Award for the Chamber
The Chamber took part in the Responsible BMO (Business Membership Organization ) Award program instituted by Foundation for MSME Clusters, a think tank in New Delhi for which Mr Arun Maira, the former National Planning Commission Member is currently the Chairman and supported by DIPP, MSME Ministry and Department of Science and Technology, GOI. The Chamber showcased its Sustainable Chennai Forum activities (SCF) in the same. In the third level, 15 case studies were selected by the organizer including the Chamber’s and the Chamber was invited to present the individual case to a high level Jury on 9th Feb at New Delhi. Ms. Saraswathi, Secretary General represented the Chamber and presented the SCF activities.
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The presentation and the Chamber’s unique services were highly appreciated by the Jury and the Chamber received a Special Award as a Responsible BMO and the same was presented to the Chamber at a function held on 10th Feb by Mr K.K Jalan IAS, Secretary MSME GOI at India International Centre, New Delhi.
SOWING THE SEEDS
29th April 2016 Workshop on Digital Marketing, Jointly organised with Business Standard The Chamber, in association with Business Standard Ltd. organised a program on “Digital Marketing” at the Conference room of the Chamber. This was part of the series of training programs organised by Business Standard under its banner “Primer” for the Trade Associations and Industry bodies focussing on skill development, particularly for SMEs. Mr. Barath Surendran was the Trainer and 18 participants took part in this program.
Mr.S.Sankaranarayanan, Deputy Secretary, MCCI welcoming the faculty Mr. Barath Surendran, Trainer and the participants
26th November 2016 Discussion on Recent Judgement on Entry Tax The Chamber organized a discussion on Recent Judgement on Entry Tax at Hotel Raintree with Mr. N.Venkataraman as the main speaker. Mr. K. Vaitheeswaran, Chair, Expert Committee on Indirect Taxes and Member General Committee of the Chamber welcomed the participants and set the tone for the discussion on recent judgment of the Entry Tax. Mr. K.K.Sekar, Co Chair, Expert Committee on Indirect Taxes gave an overview of the Industry’s understanding of entry tax, the practice that is followed, especially by automobile companies, and the challenges that are faced by the Industries. Mr. N.Venkataraman, Senior Advocate and one of the Advocates who represented before the 9 member bench which delivered the recent judgement on entry tax, elaborated on the arguments posted before the Judges and the views of the Majority and Minority Judges. Mr. Venkataraman informed that endevour of the counsels was to achieve a uniform rate of taxation, be it customs, service or income tax and that they took the entry tax as the base. He informed that the counsels failed in its attempt as the judgment was 7 : 2 allowing entry tax to be imposed by the States. He added that the majority and minority have their own logic and reasons. He then divided the discussion into two parts. One was the tax part and the other on the implications of the Judgment with regard to the Federal System. He questioned as to whether this judgment empowers the States and in the process weakens the Centre and gave a global perspective of how the powers given to the States does not work even in developed countries such as USA, Germany. With regard to the Tax, he divided the period in to 3 parts, namely, prior to 1995, 1995 to 2016 and 2016 and after. He described the history of how entry tax
Mr.N.Venkataraman, Senior Advocate, Supreme court of India delivering his Special address. Others in the dais (l to r : Ms.K.Saraswathi, Mr.K.Vaitheeswaran & Mr.K.K.Sekar)
A Section of the audience
came in to existence in 1995, how VAT legislation aimed at uniform tax rate and failed and the entry of GST in 2016 wherein the State and Central tax is integrated into one to achieve the dream of economic unity as per part 13 of the constitution. He further elaborated on the conflicting judgments which led to the cases being filed in 2008 and coming up for hearing now. Mr. Vaitheeswaran summed it up by briefing about the disruptions that happen in businesses, quoting Uber, Brexit, US elections. He stated that this judgment has caused disruption by giving the States the power to levy taxes without supervisory control. He concluded by appreciating the address by Mr. Venkataraman. ANNUAL REPORT 2016-17
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DOING THE HONORS 3rd November 2016 Interaction with the Ambassador of Kazakhstan, H.E. Mr. Bulat Sarsenbayev The Chamber organized an interactive session with the visiting Ambassador of Kazakhstan, H.E. Mr. Bulat Sarsenbayev at the MCCI Conference room. Mr. Ram Venkataramani, President welcomed the Ambassador to the Chamber. Mr. Suraj Shanthakumar, Director - Business Strategy, Kirtilals, introduced the Ambassador to the participants. H . E . M r. B u l a t S a r s e n b a y e v, Ambassador of Kazakhstan in his address stated that the bilateral relations between India and Kazakhstan are going to strengthen further with India likely to become an active member of the Eurasian Economic Union. He also added that steps are being taken by Kazakhstan to improve railway and air connectivity to improve trade relations.
Interaction Meeting with H.E.Mr.Bulat Sarsenbayev, Ambassador of Kazakhstan
The Ambassador stated that Kazakhstan will soon be setting up its second honorary Consulate in Chennai after Mumbai. After a lively interaction between the participants and the Ambassador, a formal vote of thanks was proposed by Ms. Gayathri Sriram, Vice President of the Chamber.
9th February 2017 Interactive meeting with Trade Commissioner of Austria, Dr. Oskar Andesner The Chamber organized an interactive session with Dr. Oskar Andesner, Trade Commissioner, Austria at the MCCI Conference room. Ms. Gayathri Sriram, Vice President, MCCI & Managing Director, Ucal Auto Pvt. Ltd. welcomed the Trade Commissioner and briefed about the Chamber. Dr. Oskar Andesner made a p re s e n t a t i o n o n t h e t o p i c “Advantage – Austria”. He briefed about the Austrian Export Products, Destinations, Business relations between India and Austria. He explained that their Industry is at best with trusted people who believe
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Interactive meeting with Trade Commissioner of Austria Dr.Oskar Andesner
in providing quality products and added that Technology plays a major role in their business models. 15 participants who took part interacted by clarifying their queries. The meeting was followed by high tea.
17th February 2017 Visit of Mayor of Jinju city Ms. K.Saraswathi had a meeting with the Mayor of Jinju City, Korea at the Chamber. It was a discussion to promote trade relations.
Ms.K.Saraswathi, Secretary General, MCCI with Mr.Chang Hee Lee, Mayor of Jinju city, Republic of Korea (4th from the left) and his officials.
22nd March 2017 Interactive session with Mr.Joseph Burke, Commonwealth of Pennsylvania, USA The Chamber organized an Interactive session with Mr.Joseph Burke, Deputy Secretary, Pennsylvania Department of Community & Economic Development, Office of International Business Development, Commonwealth of Pennsylvania, USA at the Conference room of the Chamber. Ms. Gayathri Sriram, Vice President, MCCI welcomed Mr. Joseph Burke on behalf of the Chamber and briefed him about the Chamber activities. Mr. Joseph Burke discussed about the possibilities of exploring business opportunities in Pennsylvania by adding the advantages of Pennsylvania and invited a delegation to Pennsylvania
Ms.Gayathri Sriram, Vice President, MCCI presenting a Memento to Mr.Joseph D Burke, Deputy Secretary for International Business Development, Dept. of Community & Economic Development, Commonwealth of Pennsylvania
Mr. Anand Madhavan, Chairman, Industrial Development Committee and Mr. P.B.Varadharajan, Co Chairman, Energy Committee also interacted with Mr. Joseph Burke about the opportunities in Infrastructure and Energy sectors.
TOGETHER WE GROW 23rd April 2016 International Conference on Connecting Voices to Combat Corruption The Chamber, in association with a few like minded organisations such as, Governance Regulation Anti Corruption through Education (GRATE), Anti Corruption Academy, (ACA) New Delhi and Institute of Directors (IOD) organised an International Conference on “Connecting Voices to Combat Corruption� at Hotel ITC Grand Chola, Chennai.
prescriptions for collective action to combat this systemic issue.
The aim of this conference was to create a common platform to discuss this important subject among the different stakeholders including policy makers, businesses, professionals, Academia, and the civil society and suggest an action plan.
Mr. P. Murari, IAS (Retd), President, IOD, TN State Chapter gave the special address. He compared the corruption that is present in all the other countries and felt that corruption is a global phenomenon.
The Conference had 4 technical Sessions where eminent speakers shared their perceptions and
T he Key note address was delivered by Mr. G. Rajagopalan, Additional Solicitor General of India, Madras High Court. He stated the corruption
Mr.S.G. Prabhakharan welcomed the audience and set the tone for the Conference. Dr. S. Satyamoorthy IAAS Retd. Chairman, GRATE gave an overview of the Conference.
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Hon’ble Justice Mr.M.M.Sundaresh, Madras High Court addressing the participants. Others in the picture :- L to R: Ms. K.Saraswathi, Secretary General, MCCI, Mr.P.Murari, IAS (Retd) President, IOD, TN State Chapter, Mr. G. Rajagopalan Additional Solicitor General of India, Mr.S.G.Prabhakharan, President, MCCI, Dr.S.Satyamoorthy IAAS Retd. Chairman, GRATE and Mr. Umar Siddique, President, ACA, India
exists everywhere and can paralyse the society. He quoted a few case laws to elaborate on corruption. Hon’ble Justice Mr. M. M. Sundresh, Madras High Court in his inaugural address stated that a social change is required to address corruption. He addressed on the misuse of power by the legislature and Judiciary. Mr. Umar Siddique, President, Anti Corruption Academy proposed the vote of thanks. In the Business Session I on the topic “Business Ethics & Board Room Governance” the following eminent speakers shared their views with Mr. M.S.Sundararajan, Chairman IOD, TNSC and Former CMD, Indian Bank chairing the Session. •
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Dr.Bhaskar Chatterjee, DG & CEO, Indian Institute of Corporate Affairs
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Mr.G.Rajagopalan, Additional Solicitor General of India, delivering his Keynote address.
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Mr Nikos Passas, International Anti Corruption Academy, Vienna
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Mr.G.Sivasubramanian, Associate Director, India Ratings & Research Pvt. Ltd.
In Business Session II on the topic, Anti Corruption – Legal Framework & Challenges, Mr. T. S Krishnamurthy, Former CEC, GoI chaired the session and stated that enforcement of laws is
the weakest link in the fight against corruption. The speakers included: •
M r L e M o i g n a n , D i re c t o r, International Governance and Risk Institute
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Dr K. Saleem Ali, Anti Corruption Academy
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Mr. Mohan Parasaran, Senior Advocate
In Business Session III, on the topic, Securities, Investment & Market - Good Governance, Mr. V. S. Sundaresan, CGM (Investigation), SEBI, Mumbai chaired the session and the Speakers were •
Mr.Richard Stockdale, CEO of Lloyds TSB Global Services
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Mr.M.R.Venkatesh, Partner, GSV Associates
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Mr Sandeep Baldava, Partner & Leader (South) Fraud Investigation & Dispute Ser vices, Ernst & Young
In Business Session IV, Mr. R.K. Raghavan, Former Director, CBI chaired the session on Crime, Law and Social Change.
Mr T.S.Krishnamurthy, IAS (Retd.) interacting with audience. Others seen are (l to r: Mr.Mohan Parasaran, Dr.Saleem Ali & Mr.Le Moignan)
Mr.G.Sivasubramanian making a presentation on Business Session-I. Others seen are (l to r : Dr.Bhaskar Chatterjee, Mr M S Sundararajan, Mr Nikos Passas)
The speakers were •
Rev. Dr. N.Casimir Raj SJ, Founder & President, LIBA. –
•
Mr. R. Ramamurthy, Chairman, Cyber Security & Privacy Foundation – Mr. Carroll B Correll, Principal, Training and AntiCorruption Company (CORSTRA, LLC) summed up the session and stated that the Organisers have taken a positive step to combat corruption which is to be commended.
The meeting was well attended and the interactions were of the highest order.
Mr.R.Ramamurthy interacting with audience during the Business Session IV (l to r) Rev.Dr.N.Casimir Raj & Mr.R.K.Raghavan
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26th April 2016 Seminar on Doing Business with Netherlands The Chamber along with the Netherlands Business Support Office, Chennai (NBSO) organised a CEO lunch session with Senior representatives from select sectors with Mr.Alfonsus Stoelinga Netherlands Ambassador during his visit to Chennai along with a team of 3 members. Mr. S.G. Prabhakharan, Mr. J. Krishnan, Mr. Ramkumar Shankar, Mr. S. Venkatachalam, Ms. K.Saraswathi represented the Chamber and on Chamber’s invitation, Dr Sunder Ramaswamy, Officiating Director & Visiting Distinguished Professor, Madras School of Economics, and Mr. K.E. Raghunathan, Solkar Industries attended the luncheon meeting. A round table discussion over lunch was held as how the region witnessed such huge economic growth in the last 20 years and what is in store ahead for the next 20 years. Further, the discussion revolved around the kind of economic development that is likely to take place and what Netherlands, given its skills and expertise, needs to look out for, to gain a foothold in the southern region.
Mr.V.Vijayakumar, Chief Representative, Netherlands Business Support Office (NBSO), Chennai welcoming the Chief Guest and the gathering. Officials on the Dias are (l to r : Mr.S.G. Prabhakharan, President, MCCI; Mr. Alfonsus Stoelinga, The Netherlands Ambassador to India; Mr. C.V. Sankar, IAS, Principal Secretary, Industries Department & Ms. Stans Kleijneen, Director India, Netherlands Foreign Investment Agency, Mumbai)
The Lunch meeting was followed by a joint Seminar on “Doing Business with Netherlands” at Hotel ITC Grand Chola. Mr.S.G. Prabhakharan welcomed the participants followed by the Special address by Mr C.V Sankar IAS, Additional Chief Secretary Industries Department, GoTN. Mr. C.V.Sankar elaborated on the various infrastructure facilities available in Tamil Nadu which is congenial for the foreign investors to invest in India and welcomed the companies from Netherlands to set up business in Tamil Nadu. Ms. Stans Kleijnen, Director India, Netherlands Foreign Investment Agency, Mumbai made a presentation of Advantage – Netherlands . The keynote address was by the Netherlands Ambassador to India Mr. Alfonsus Stoelinga who reiterated the advantages of doing business with Netherlands. The Inaugural was followed by a Panel Discussion moderated by Mr. N K Ranganath, MD Grundfos Pumps India Pvt. Ltd & GC Member, MCCI with business experts from various sectors who shared their experiences in their respective sectors and briefed on the lessons they could draw from Netherlands. •
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Mr. Michiel Bierkens, Head of Economic Affairs, Embassy of the Kingdom of the Netherlands, New Delhi
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Mr.S.Venkatachalam, Managing Director, Orient Green Power Co. Ltd., & Chairman, MCCI Energy Committee (First from right) interacting with audience during the panel discussion along with Mr.N.K.Ranganath, Member, MCCI General Committee & Managing Director, Grundfos Pumps India Pvt.Ltd., (second from right) and others.
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Mr. Sudeep Sangameswaran, MD, Paques Environmental Technology India Pvt. Ltd
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Mr. Toine van Megen, Co-Founder, Auroville Consulting
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Mr. S. Chandramouli, Business Head, International Business, TAFE
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Mr. S Venkatachalam, MD, Orient Green Power Co Ltd.
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Mr. A. Shankar, National Director, Head of Operations - Strategic Consulting, JLL
Ms. P. Meenakshi, NBSO proposed the vote of thanks and the meeting was attended by 50 participants.
4th May 2016 CCCCC Meeting – Trade Business Opportunities between India and USA The Consultative Committee of City Chambers of Commerce (CCCCC), currently having secretariat under the Andhra Chamber of Commerce, scheduled a Presentation on “Trade & Investment Opportunities between India & USA” at Hotel Savera, Chennai . The aim of this meeting was to enhance the existing relationship with the U.S. and improve trade and investment opportunities. Ms. Indira Dutt, President, Andhra Chamber of Commerce and Chairperson, CCCCC welcomed the Chief Guest and participants and briefed about the Andhra Chamber activities. Mr. V.Murali, President, Hindustan Chamber of Commerce gave an introduction about the Hindustan Chamber activities followed by Ms. K.Saraswathi, Secretary General briefing about the Madras Chamber activities. Mr. Chozha Naachiar Rajasekhar briefed about the Tamil Chamber of Commerce followed by Mr. Prasad David, Former Secretary, SICCI briefing about SICCI activities. H.E. Mr.Philip A Min, Consul General of United States of America in Chennai, was the Chief Guest
Ms.K.Saraswathi, Secretary General, MCCI addressing the gathering in the CCCCC Meeting, Presentation on Trade & Investment Opportunities between India & USA.
who agreed to extend their support to Chambers of Commerce and Industries in various ways to promote business relationship between the two countries. Mr. Syed Muneer Ahmed, President, National Chamber of Commerce briefed about his Chamber and proposed the vote of thanks.
13th July 2016 Interactive Meeting on Income Declaration Scheme 2016 jointly with Income Tax Department The Chamber organized an interactive meeting with the Income Tax Department officials on the Income Declaration Scheme 2016 on 13th July 2016 at the Conference room of the Chamber. Mr.A.Sasikumar, IRS Joint Commissioner of Income Tax , Chennai made a presentation and jointly with Mr.M.Mathivanan, IRS, Additional Commissioner of Income Tax , Chennai, clarified the queries raised by the participants.
23rd July 2016 Investment Seminar – Setting up a Business in UAE under CCCCC Under the auspices of Consultative Committee of City Chambers of Commerce (CCCCC), a Special Seminar on “Setting up your Business in the United Arab Emirates” was organized at Hotel GRT Grand Convention Centre. Dr.V.L. Indira Dutt, Chairperson, CCCCC and
Officials from Income Tax Department interacting with the MCCI Members
President, Andhra Chamber of Commerce gave a formal welcome address followed by Mr. Chozha Naachiar Rajasekar, President Tamil Chamber of Commerce addressing the participants about the trade relations between India and UAE. Mr.Aseeb Abdul Khader, Vice President – Marketing, Ras Al Khaimah Investment Authority (RAKIA), Govt. of Ras Al Khaimah, UAE made a presentation on the opportunities in RAKIA to an audience of 50+. There was a lively interaction followed by Dinner. ANNUAL REPORT 2016-17
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11th August 2016 ICICI Knowledge Program jointly with ICICI CEO Knowledge Forum is one of ICICI Bank’s flagship programs in the “Beyond Banking Space” . The Chamber in association with ICICI Bank organized the fourth edition of CEO Knowledge Forum at Hotel Park, Chennai. The theme for the fourth edition was ‘Strategies for Sustainable Growth’. Ms. K.Saraswathi, Secretary General, MCCI delivered the welcome address. Mr. Mukesh Manik, an entrepreneur was the key speaker who gave a detailed account of various strategies for sustainable growth by citing some of his own experiences. The Panel discussion on the topic ‘How to leverage the internal strength of the Organization to improve the bottom lines’ was moderated by Mr. Mukesh Manik. The other participants included: •
Mr. T.V. Narayanan, Joint General Manager and Zonal Head, South, ICICI Bank
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Mr.Ravishankar, Director – Commercial, Super Auto Forge Ltd and G.C Member, MCCI
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Mr. Ramkumar Ramamoorthy, Sr. Vice President, Corp. Marketing, Research & Communications,
Mr.Ramkumar Ramamoorthy, Sr.Vice President – Corp.Marketing, Cognizant Technology Solutions & Member, MCCI General Committee addressing the audience during panel discussion. Others seen are (l to r : Mr.Mukesh Manik, Mr.Ravi Shankar, Director – Commercial, Super Auto Forge & Member, MCCI General Committee and Mr.T.V.Narayanan, JGM & Zonal Head – South, ICICI Bank)
Cognizant Technology Services , GC Member, MCCI It was a lively interaction followed by a question and answer session with the 60 participants and concluded with dinner.
26th August 2016 Seminar on Business Opportunities in Brussels, Belgium Under the auspices of Consultative Committee of City Chambers of Commerce (CCCCC), a Special Seminar on “Business Opportunities in Brussels, Belgium” was organized at E-Hotel, Express Avenue, Chennai. Dr.V.L. Indira Dutt, Chairperson, CCCCC and President, Andhra Chamber of Commerce gave a formal welcome address. The speakers were welcomed by Mr. Murali, President, Hindustan Chamber of Commerce. Mr. Bart De Groof, Consul General gave an introduction to the Indo Brussels trade relations. Mr. Laurent Verbiest, Project Manager Asia- Inward Investment, Brussel Invest and Export made a presentation on the topic “Brussels as a Strategic Investment Gateway to EU – Overview, BREXIT and Future followed by a presentation by Ms. Kathlijn Fruithof, First Secretary, Brussels Invest and Export on the topic “Investment opportunities in Brussels”.Mr Alex T Koshy, Director,
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Mr.Bart De Groof, Consul General, Consulate of Belgium addressing the audience. (l to r: Mr.P. Nandagopal, Secretary, Andhra Chamber of Commerce ; Mrs.V.L Indira Dutt, Chairperson, CCCCC; Ms.Kathlijin Fruithof, First Secretary, Brussels Invest and Export & Mr.V. Murali, President, Hindustan Chamber of Commerce).
SAS Partners Corporate Advisors, Consultant to Brussels Invest and Export in India addressed the audience on the topic Business Opportunities in Brussels. It was followed by an interaction session. 50 participants took part in this Seminar.
30th September 2016 Seminar on Business Opportunities in Building Smart Cities in TN The Chamber organized a Seminar on “Business opportunities with Brussels in Building Smart Cities in TN” jointly with Brussels Invest and Export, (BIE), an arm of the Ministry of Brussels at Hotel Taj Coromendal. This is part of the BIE Urbanization Series 2016 which organized an economic mission to South India, with six leading companies from Brussels visiting Southern India focusing on smart cities and infrastructure development. This mission is aimed at exchanging the knowledge and expertise with Brussels companies in the field of urban development and to explore possibilities of finding mutual Partners. Ms. Gayathri Sriram, Vice President of the Chamber welcomed the delegates from Belgium and participants. H.E. Mr. Bart De Groof, Consul General of Belgium, Chennai addressed the participants followed by a presentation by Mr. Anand Madhavan, GM –ICRA Manangement Consulting Services Pvt Ltd The six Belgian Companies, namely, Delcredre Tractebel Engineering, Keselec Schreder, Famoco, Real Impact Analytics and Macq made their respective presentations. This was followed by B2B
Ms. Gayathri Sriram, VP, MCCI delivering the welcome address.
meetings between the Belgian Companies and a few participants. Ms. Kathlijn Fruithof, First Secretary, Trade and Investment, Consulate General of Belgium, Chennai proposed the vote of thanks. The meeting was well attended and the participants had a lively interaction with the Ambassador.
Mr Anand Madhavan, General Manager, iMACS & Chairman, MCCI’s Industrial Development / Infrastructure Committee making a Presentation
Ms.Gayathri Sriram interacting with the Belgian Company officials in the Q & A Session
4th October 2016
objective was to share the business potential between both the countries and to highlight the concerns of Indian Exporters, if any to enable the Ambassador to take up the issues with officials in Egypt to resolve the same.
Interaction meeting with His Excellency, Mr. Sanjay Bhattacharyya IFS, Ambassador of India to the Arab Republic of Egypt The Chamber jointly with Southern India Chamber of Commerce & Industry (SICCI) organized an interaction meeting with His Excellency Mr. Sanjay Bhattacharyya IFS, Ambassador of India to the Arab Republic of Egypt during his visit to Chennai. The
Mr. Ram Venkataramani, President, MCCI addressed the participants wherein he touched upon the India – Egypt business relationship and the scope for deepening the cooperation between the two ANNUAL REPORT 2016-17
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countries, particularly in sectors like manufacturing, agriculture, real estate, finance, insurance and logistics. Mr.N.Kumar, Vice Chairman, Sanmar Group addressed the participants and highlighted the business relations of Sanmar Group with Egypt. H.E.Mr.Sanjay Bhattacharya, IFS., Ambassador of India to the Arab Republic of Egypt in his chief guest address stated that there are about 50 enterprises of Indian origin that are present in Egypt today. The total investment is about US$3 billion. The largest by far is the Sanmar group’s, who have a $1.2 billion chemical factory in Port Said, Egypt, which is the largest of its kind in the region.” . Ms. K.Saraswathi proposed the vote of thanks.
Mr.Sanjay Bhattacharyya, IFS, interacting with audience during the Q & A Session. Others in the picture are (l to r : Mr.S.Raghavan, Mr.N.Kumar, Mr.R.Ganapathi, Mr.Ram Venkataramani & Ms.K.Saraswathi)
The meeting was attended by 26 persons who had a lively interaction with the Ambassador.
18th October 2016 Partnering for Change – A Series of CSR Dialogues The Chamber joined hands with USAID, US Consulate, Chennai, American Chamber of Commerce, GAVS Technologies & Nextgen for a Program on ‘Partnering for Change – A Series of CSR Dialogues’ to share innovations and develop partnerships on ‘Gender Equality & Technology’ at GAVS Technologies, Sholinganallur, Chennai. The topic for this series was on Gender Equality & Technology. Mr. Philip Min, US Consul General extended a warm welcome to the participants. 8 Organizations,
namely Agastya International Foundation, Babajob, Institute for Financial Management and Research, Missing, National Democratic Workers Movement, Rope, Women of Worth and World Vision took part and made Innovative Showcase presentations. This was followed by a discussion on the topics ‘Role of the Public Discussion’ and ‘CSR Perspectives & Lessons Learned Discussion’. The program was attended by 30 persons
29th November 2016 CCCCC Meeting – Interaction with Mr.S.K.Samal, ITS. Addl. Joint Director General of Foreign Trade Under the auspices of Consultative Committee of City Chambers of Commerce (CCCCC), an interaction meeting was organized with Mr.S.K.Samal, ITS. Addl. Joint Director General of Foreign Trade at Hotel Savera with the topic being Ease of Doing Business – Recent initiatives under Foreign Trade Policy. Ms. V. L Indira Dutt, Chairman, CCCCC & President, Andhra Chamber of Commerce welcomed the audience. Mr. Syed Muneer Ahmed, President,
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Mr.S.K.Samal, ITS., Addl. Joint Director General of Foreign Trade addressing the Audience.
National Chamber of Commerce introduced the Chief Guest and greeted him. Mr. Chozha Naachiar Rajasekar, President, Tamil Chamber of Commerce briefed about Exports & Imports in Tamil Nadu. Mr. S.K Samal, ITS, Zonal Addl. Director General of Foreign Trade, Ministry of Commerce & Industry, Govt. of India, Chennai was the Chief Guest. He addressed on the recent initiatives under the Foreign Trade Policy that paves way for the ease of doing the business.
His address was followed by an interaction from the participants. After the meeting, the chairmanship of the CCCCC committee was handed over by Ms. Indira Dutt to Mr. M.Razzack, President, Hindustan Chamber of Commerce for the next one year. Mr. Razzack proposed the formal vote of thanks.
16th December 2016 SME Conclave on “How your savings can make money for you ? The Chamber in association with SBI Mutual Fund and The Hindu Business Line organised the Propel SME Conclave on the topic “How your Savings can make Money for you? on 16 th December at Hotel Accord Metropolitan, Chennai. The Hindu Business Line has been conducting the SME Conclave in different places under their banner ‘Propel’. The current conclave aimed to discuss the financial management tips for MSMEs in the context of SME Funding and Treasury Management. The Key note speaker was Mr. Raghuttama Rao, Managing Director, ICRA Management and GC Member of the Chamber. In his address he stated that the SMEs, especially the ones in the manufacturing sector in India have a huge opportunity for growth in the Country. He stated that SMEs account for 45% of the total industry output and 40 % of the total exports. He further added that only 10 per cent of SMEs have access to the credits available in the bank. In the Panel discussion, Mr. A.N. Jha, General Manager, State Bank of India stated that most of the industries do not equip themselves to scale up and are not competitive
Mr.R.Raghuttama Rao, Member, MCCI General Committee & Managing Director, ICRA Management Consulting Services Ltd interacting with audience during the Panel Discussion
enough. He added that as and when the companies scale up, they should remain competitive and be equipped to face challenges. If so the funding from the banks would automatically follow. Mr. Srinivasan, Zonal Head, Federal Bank stated that the lack of collateral security and poor financials affect an enterprise’s ability to access banking and funding. The Companies should take advantage of the many subsidy schemes introduced by the Centre and State Governments. Mr. Raghavan Srinivasan, Editor, Business Line said that Conclaves focussed on MSME sector would help SME’s equip themselves. After an interaction with 50 participants, the meeting concluded with Dinner. ANNUAL REPORT 2016-17
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16th February 2017 Seminar on “National Intellectual Property Rights Policy – Opportunities and Challenges for Businesses The Madras Chamber, in partnership with Water falls Institute of Technolog y Transfer (WIT T) , New Delhi organized a Seminar on ‘National Intellectual Property Rights Policy – Opportunities and Challenges for Business’, followed by dinner at Hotel My Fortune, Chennai The objective of this seminar was to understand the nuances and significance of the National IP Policy, its relevance and impact on different industries and the opportunities and challenges it may pose to the businesses both existing and the startups, similar laws and some best practices in other countries and such others .
Mr.K.Ramakrishnan, Member, MCCI General Committee welcoming the gathering. Others in the picture are (l to r : Mr.Krishna Gandhi, Mr.Raghu Cidambin, Dr.S.P.Subramaniam, Dr.K.V.Swaminathan, Mr.K.V.Seshasayee & Prof.P.Gautam)
M r. R am a k r i s h n a n , M e m b e r - General Committee, MCC I and Senior Managing Director – Strategic Relationships, Spark Capital Advisors (India) Pvt. Ltd. welcomed the speakers Mr. P.V. Jaishankar, Chairman, WITT (Chennai) gave an introduction about WITT and its activities. Dr. K.V. Swaminathan, Founder – Chairman, WITT (New Delhi), Former Controller General of Patents & Advisor, DST, Government of India gave an elaborate presentation on the history of Intellectual Property from the 19th century till date. The Key note address was delivered by Dr. S.P. Subramaniam, Deputy Controller of Patents, Government of India on the topic, ‘The New IP Policy – Significance, Key Highlights and Opportunities’. Mr. R aghu Cidambi, Advisor, Intellectual Property Affairs, Indian Pharmaceutical Alliance addressed on the topic ‘Opportunities &
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Ms.K.Saraswathi, Secretary General, MCCI introducing the Panelists. Panelists on the dias are (l to r – Mr.S.Chandrasekharan, Mr.Keda Suvamapathaki, Mr.S.Krishnakumar, Mr.N.R.Krishnan, Dr.K.V.Swaminathan, & Mr.K.V.Seshasayee)
Challenges – the Pharmaceutical Industry Perspective’ and made the participants aware of nuances which they were not familiar with regard to the Pharma Industry. Mr. Krishna Grandhi, Advocate, High Court, Hyderabad & Attorney at Law, Patent & Trademark Attorney, US made a presentation on the ‘Recent Developments in U.S. Patent Law’. Mr. K.V.Seshasayee, Advisor, Telecom, Media & IT made a presentation on the films, broadcasting and the issues on Indian Scene on the topic, IPR Aspects relating to Media & Content Delivery Dr. P.Gautam, Director, AU-KBC Research Centre, MIT Campus, Anna University addressed on the topic ‘Bio entrepreneurship in Tamil Nadu’. He highlighted on the schemes that are available for promoting bio entrepreneurship.
This was followed by a Panel Discussion on “How can Indian Industry take Advantage of the National IPR Policy framework and what are the challenges”. Dr.K.V.Swaminathan chaired the discussion and the panellists were Mr.N.R.Krishnan, Former Secretary (Environment), GoI, Mr Kedar Suvarnapathaki, Head of Regulatory & IP, Boehringer – Engelheim, India, Mr S Chandrasekharan, former Controller – General
of Patents & IP Tribunal Member, Mr S Krishnakumar, former Sr.Vice President, Lucas TVS & L & T, Mr K V Seshasayee, former President, COAI & former Group CTO, Hinduja Group. Ms. K.Saraswathi, Secretary General, MCCI formally proposed the vote of thanks. This program was attended by 40 persons.
7th March 2017 Launch of ElEvaTE The Chamber, in association with Asia Society for Social Improvement and Sustainable Transformation (ASSIST), launched the project “Enhanced learning on Energy Efficient Building Management Technologies (ElEvaTE) co financed by DEG and jointly implemented by REGIN at Hotel My Fortune Chola The objective was to enhance the capacity among the building management professionals to implement sustainable Building Management System (BMS) in both new and existing buildings and thereby increase the energy efficiency of buildings. The Speakers for the Technical session and the panel discussion included :•
Mr. N. Ramamoorthy, Chief Engineer, ITC Grand Chola,
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Mr. J. Nagesh Kumar, Director, CEEP
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Mr. K. Palanisamy, Managing Director, Genisys Smart Automation
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Mr. R. Balakrishnan, General Manager, L & T
Ms.K.Saraswathi, Secretary General, MCCI along with the speakers and other partners at the project launch of ELEVATE – MCCI jointly with ASSIST, KFW & REGIN
•
Mr. Balaguru, Automation and Control Engineer, Grundfos Pvt Ltd.
The Session served as a platform to share the current trends in the field of building management systems and to emphasise the importance of sustainable resource consumption in buildings. Followed by the launch, a panel discussion on the sustainable implementation of BMS and speakers discussing the prevailing issues in BMS implementation. The program was attended by 40 participants who had an interactive session with the speakers followed by lunch.
15th March 2017 Seminar on Doing Business with Thailand The Madras Chamber, joining hands with Thailand Board of Investment organized a Seminar on ‘Doing Business with Thailand’ at Hotel Crowne Plaza, Chennai followed by networking dinner with the visiting Government Delegation from Thailand. M s . G ayat h r i S r i ra m , V i ce President, MCCI & Managing Director, Ucal Auto Pvt. Ltd. while formally welcoming the delegates from Thailand and the Ms.K.Saraswathi, Secretary General, MCCI & Ms.Gayathri Sriram, Vice President, MCCI along with Mrs.Krongkanit participants, briefed about the Rakcharoen, Consul General, Royal Thai Consulate and Ms Kanakporn Chotipal, Director and Consul (Investment), Madras Chamber and touched Thailand Board of Investment, Mumbai ANNUAL REPORT 2016-17
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upon the trade relations between Thailand and India. Mrs. Krongkanit Rakcharoen, Consul-General of Thailand in India (Chennai) thanked the Chamber for this opportunity to interact with the participants and expressed their desire to encourage companies from India to set up business in Thailand. She informed that all support would be provided by the Board of Investment,Thailand and urged the participants to
expand their business in Thailand. Ms.Kanokporn Chotipal, Senior Diplomat & Director (Investment) of BOI Thailand (Mumbai) made a presentation about the advantages of investing in Thailand. The program was attended by 45 persons who had an interactive session with the delegates from Thailand.
15th and 16th December 2016 7th International Conference on Development Policy
Joint Program with Avinashilingam Institute for Home Science and Higher Education for Women, Coimbatore The Avinashilingam Institute for Home Science and Higher Education for Women, (Deemed University Estd u/s 3 of the UGC Act 1956) India in collaboration with The Centre for Advanced Studies in Corporate Governance, Entrepreneurship and Finance (CASCEF), Institute of Finance Management (IFM), Dar Es Salaam, Tanzania jointly organized the 7th International Conference on Development Policy with the support of Madras Chamber of Commerce and Industry, Chennai. D r. U. Je r i n a b i , D e a n , Fac u l t y o f B u s i n e s s Administration delivered the welcome address. Padma Shri Dr.P.R.Krishnakumar Chancellor, Avinashilingam University delivered his presidential address and declared the opening of the conference. The Conference was inaugurated by the Hon’ble Union Railway Minister Shri. Suresh Prabhakar Prabhu through Video Conferencing. Followed by the inaugural address of the Hon’ble Railway Minister, Mr. Mohammed Hija Mohammed, Hon’ble Deputy High Commissioner of Tanzania to India delivered his keynote address. Mrs. K. Saraswathi, General Secretary, MCCI addressed about the activities of the Chamber and offered to work with academic institutions towards strengthening industrial ties through skill development and promoting entrepreneurial development. Prof. Tadeo A. Satta, Rector of the Institute of Finance Management (IFM), Tanzania spoke about economic policies, reforms and development happening at Tanzania and related the close observation of economic reforms of India to that of Tanzania. Dr. Premavathy Vi j ayan, Vice C hancellor, Avinashilingam University discussed about the measures taken by the University to promote
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Ms. K. Saraswathi, Secretary General, MCCI addressing the participants.
digitalization and financial literacy among rural India through the students of the University. Dr. P. Chitramani, Professor and Head of Avinashilingam School of Management Technology briefed about the conceptualization of the Conference theme and also detailed about various panel discussions to be held and key note sessions to happen on both days of conference. Post the Inaugural Session the two day conference had panel discussions on the topics:- Shaping Future Cities – Strategic Challenges, GST and its impact on Economic Development Investment Environment & Capital Market Reforms for Sustainable Economic Development, Future Skilling to build Global Competitiveness, Best Practices in Managing Intellectual Capital. Further, parallel technical sessions were held on the topics, Investment and Economic Development, Infrastructure and Economic Development, Intellectual Capital and Economic Development. In the Valedictory session, Mrs.Devika Ramesh, Executive Director, AREMPEE Compressors Pvt.Ltd., Chairperson, FICCI Ladies Organization gave her valediction address. The closing remarks were given by Dr.Godwin Kaganda, Dean, Faculty of Economics & Management Sciences, IFM, Tanzania and Dr.J.Arthi, Assistant Professor (SG), Avinashilingam School of Management Technology. The two day UGC sponsored International Conference concluded on 16th December 2016 with more than 300 students and others participating in the conference.
OTHER MEETINGS
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Imperatives for TN new Government – The Chamber organized a press meet on 31st May 2016 to share the Industry wish list to the Government. The top 3 wishes were extending support to the implementation of GST, to accelerate the investment under Infrastructure for Ports, Roads, Industrial townships, modern cities, and Water and speedy implementation of skill development programs.
Press meet
Ms. K.Saraswathi, Secretary General, attended an interactive session with the members of the Indo American Chamber of Commerce, North Carolina, on 16th June 2016 during her visit to USA Ms.K.Saraswathi, Secretary General, MCCI with Key Members of the Indo American Chamber of Commerce, North California in an Interactive Session
•
The Chamber contributed Rs.10 lakhs for the building fund of EFSI.
Mr.N.Srinivasan, GC Member along with Mr.S.Sankaranarayanan, Deputy Secretary, MCCI handing over a cheque of Rs.10 lakhs to Mr.Anand Sundaresan, President, EFSI for the building fund of EFSI. Others in the picture include : Mr.Manickam, Secretary, EFSI, Mr.Anand Gopalan, Partner, TSG & Co., & Mr.T.S.Gopalan, Senior Advocate and others.
12th July 2016 ASSOCHAM - Press Meet and Managing Committee Meeting in Chennai As per the request of ASSOCHAM, the Chamber hosted the ASSOCHAM Managing Committee Meeting at Hotel Crowne Plaza, Chennai. In the sidelines, a private meeting was held with Mr. Sunil Kanoria, President, ASSOCHAM along with the few members from the Promoter Chambers: •
Mr.S.G.Prabhakharan, President, MCCI
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Mr.Ram Venkataramani, Vice President, MCCI
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Mr.T.Shivaraman, Immediate Past President, MCCI
Mr.Sunil Kanoria, President, ASSOCHAM addressing the media during the Joint Press Meet by Assocham & MCCI.
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Mr.Sunil Kanoria, President, Assocham welcoming the Chief Guest and the Members for the Assocham’s Managing Committee Meeting in Chennai. Others in the picture (l to r : Mr.Sandeep Jajodia, Sr.Vice President, Assocham ; Mr.D.S.Rawat, Secretary General, Assocham; Mr.S.G.Prabhakharan, President, MCCI; Mr.R.Subramania Kumar, Executive Director, Indian Bank (Chief Guest) & Mr.C.S.Kartha, President, Cochin Chamber of Commerce)
Mr.S.G.Prabhakharan addressing the gathering on the Felicitation Function to Mr.Sunil Kanoria, President, ASSOCHAM.
Mr.N.Srinivasan, Past President, MCCI
•
Mr.Srinivasan.K.Swamy, Past President, MCCI
Mr.C.S.Kartha, President, Cochin Chamber of Commerce & Industry
Mr.Ashok Barat, Past President, Bombay Chamber of Commerce & Industry
The Indian Institute of Foreign Trade(IIFT), a Deemed University under the Ministry of Commerce and Industries, Govt. of India, as part of the Management Course brought 25 students for a visit to the Chamber to strengthen their knowledge in Export/Import Procedure and Documentation. Mr. J. Krishnan, Partner, S. Natesa Iyer & Co. and Member, MCCI General Committee made a presentation to the students on 22nd September 2016
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In the World Business Council for Sustainable Development (WBCSD) Council Meeting held on 4th and 5th October 2016 at Hotel ITC Grand Chola, Chennai, Ms. K. Saraswathi, Secretary General made a presentation on successes and challenges of building a business case for sustainability through the Chamber’s sustainable Chennai Forum.
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Under the auspices of the CCCCC, a condolence meeting was organised by the Andhra Chamber of Commerce & Industry for the demise of Dr.Selvi J. Jayalalithaa, Former Chief Minister of Tamil Nadu on 22nd December 2016. It was presided by Honourable Minister Mr. M.C.Sampath, Minister for Industries, Government of Tamil Nadu.
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Ms. K.Saraswathi made a presentation in the Session on Self-Employment - Augmenting Opportunities for Livelihoods at the Livelihoods Asia Summit 2016 organized by Hand in Hand in December 2016 at Hotel Le Meridian, New Delhi.
This meeting was followed by a Joint Press Conference by ASSOCHAM and MCCI. “The Agenda for the Tamil Nadu Government” was released during the press conference. Post lunch, The ASSOCHAM Managing Committee meeting hosted by the Madras Chamber, was held. Mr. R.Subramania Kumar, Executive Director, Indian Bank, Special Guest addressed the members on Insolvency and Bankrupty Code 2016. It was followed by a vivid interaction and then the regular agenda was taken up and transacted. As per the usual practice, the Consultative Committee of the City Chambers of Commerce (CCCCC) organized a Felicitation function in honor of the ASSOCHAM President Mr. Sunil Kanoria, at Hotel GRT Grand. Mr. Sunil Kanoria addressed the audience on the present economic environment and also outlined as to what should be the focus of Trade and industry. He lauded the unique CCCCC forum and said it was worth replicating the same in places like Delhi. •
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IITM, Chennai organized the Sustainable Urban Freight in Chennai on August 31, 2016. Ms. K. Saraswathi, Secretary General and Mr. S. Sankaranarayanan, Deputy Secretary represented the Chamber for this meeting.
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SUSTAINABLE CHENNAI FORUM 26th August 2017 Urban Flood Mitigation : An approach from vulnerability to resilience – A Case of Chennai City The Chamber along with TARU, New Delhi, an institution working for two decades on a range of institutional, financial, economic, social and technical issues across diverse public systems, cultures and corporate formations throughout India and National Institute of Urban Affairs (NIUA), New Delhi organized a Workshop on ‘Urban Flood Mitigation: An approach from vulnerability to resilience – A case of Chennai’ at GRT Grand Hotel, (Convention Centre) under its Sustainable Chennai Release of Study – “Role of various sectors in Demonstrating – Resilience during Chennai Flood 2015: ( l to r : Ms.K.Saraswathi, Secretary General, MCCI Mr.V.Thiruppugazh, IAS., Adviser, NDMA, Dr.Uma Forum(SCF). Ramachandran, Senior Research Manager, Centre for Devp. Finance, IFMR Lead, Mr.Kamal Kishore,
This workshop was organized to discuss Member, NDMA, Mr.G.K.Bhat, Chairman, TARU Leading Edge, Mr.R.Raghuttama Rao, Managing Director, about the reducing vulnerabilities of climate iMACS & GC Member, MCCI, Mr.G.Padmanabhan, Emergency Analyst, UNDP & Mr.Ajay Katuri, Lead Specialist – Urban Planning, Risk & Resilience, TARU) induced natural disasters, mitigation of urban flood in the changing climate and putting resilient actions against it and also to prepare a policy brief on it. The broad objectives of the workshop were as follows:•
To understand climate induced natural hazards, impacts and risks
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Sharing Asian Cities Climate Resilience Network (ACCCRN) learning and experiences from Surat and Indore Mr. Raghuttama Rao, delivering the welcome address.
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Urban Flood mitigation – institutional preparedness and capacity development
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Understanding Best practices for urban flood risk management
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To d i s c u s s b e s t p ra c t i ce s o f Vulnerability to Resilience – cases from Chennai
Mr. R . R aghuttama R ao, Managing Director, ICRA Management Consulting Services Limited and General Committee Member, Madras Chamber welcomed the participants and set the tone for the Workshop.
Special address by Mr.V.Thiruppugazh, IAS, Adviser, National Disaster Management Authority.
in his special address appreciated the Madras Chamber and TARU for organising this workshop. He added that all disasters are manmade and this urban flood is a recent phenomenon. He went on to explain how we have effectively practiced disaster Mr.V.Thiruppugazh, IAS, Adviser, National management 5000 years ago. He concluded by saying that disaster Disaster Management Authority (NDMA) management should be a mass movement and not only restricted to Government bodies and wished success for the program. . ANNUAL REPORT 2016-17
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Mr. Kamal Kishore, Member, National Disaster Management Authority (NDMA), made a presentation on the ‘Urban Flood Risk Management, Overview of Issues in India’. Dr. Uma Ramachandran, Senior Research Manager, Centre for Devp.Finance, IFMR Lead, made a presentation on the role of different sectors in demonstrating resilience during Chennai Flood 2015. She briefed on the case studies done in different sectors, namely relief and supplies, health, transport and energy services, emergency services, social networks, small and medium Speakers and Organizers with the Chief Guest of the State Level Workshop on Urban Resilience enterprises, hospitality industry and food Engineering Department, IITM, Chennai made presentations supplies. followed by an open discussion with the participants. TARU had carried out a study with the support of Asian Cities Climate Change Resilience Network (ACCCRN) on ‘Role of Various sectors in demonstrating resilience during Chennai Flood 2015’. This report was released in the workshop. Dr. Ajay Katuri,Lead Specialist Urban Planning, Risk & Resilience, Taru Leading Edge Pvt Ltd. proposed the vote of thanks.
In the Second Session, on Flood Risk Management and mainstreaming the flood disaster resilience into Urban Areas, Dr. N.K.Ambujam, Director, Centre for Water Resources, Anna University and Mr. G.K. Bhat, Chairman Taru Leading Edge Pvt Ltd., made presentations In the Panel Discussion, Dr. K. R. Thooyavan -Professor (Design Chair); Former Chief Urban Planner – CMDA, Dr. S. Janakarajan - Professor, Madras Institute of Development Studies, Mr. J. Babu Rajendran - Chief Engineer (SWD and Special Projects), Greater Chennai Corporation, Dr. Jayashree Vencatesan –Managing Trustee, Care Earth Trust, Dr. S. Seshadri, Indigenous and Frontier Technology Research Centre (IFTR) and Mr. Gopi Warrier, Independent journalist – Environment and Urban areas took part and had a discussion on the topic “ Building Resilient and Smart Chennai” . They made individual presentations and took up questions from the participants.
I n t h e f i r s t te c h n i c a l s e s s i o n o n “Understanding the flood Hazard and its impact”, Mr. G.Padmanabhan, Emergency Analyst, UNDP, Dr. Tune Usha and Dr. M.V.Ramamurthy, Scientists from National Institute of Ocean Technology and Dr. Balaji More than 70 participants took part in the workshop and there Narasimhan, Associate Professor, Civil was a positive feedback for the workshop.
26th – 28th February 2017 Water Expo 2017 Water Today Pvt. Ltd. organized the 11th edition of Water Expo at Chennai Trade Centre, Chennai. The Chamber, which has been one of the supporting organizations in the earlier editions of the Water Expo in Chennai, as part of its Sustainable Chennai Forum(SCF) activities extended its support for this edition as well. A stall was allotted to showcase the
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Chamber’s activities of the SCF and this provided a platform to create awareness about the activities of SCF to the participants of this water expo. The Chamber also had the opportunity to interact with other exhibitors who are active in water management, so as to enhance the network of SCF
FOOD FOR THOUGHT June 11, 2016 “Will our Education System attain Global Standards “?
MCCI’s Food for Thought program takes up larger issues of a topical nature which could involve the economy, civil society, businesses and the community as a whole and provide a platform for open discussion and interaction.
The Chamber under the auspices of the Education Committee organized an FFT on “Will our Education System attain Global Standards”? Dr. S. Venkataraman, Chairman, Education Committee welcomed the speakers and moderated the session. Mr. Anand Sunderasan, VC & MD of Schwing Stetter, in his address compared the standards of our Education with Germany and stressed that communication skills is vital for the Students. He added that the Industries should play a major role in enhancing the education standards by providing hands on training. Prof. Sankaran Kr ishna , from the Department of Political Science, University of Hawaii, stated that the quality of a democracy of a country depends on the quality of education and stated that in India, we under invest in foundation of education compared to other countries. He concluded by stating that passion makes a person successful and not just mere education.
Dr Vaidy Jaraman, Associate Dean, Academic Affairs, GLIM interacting with audience. Others on the dais (l to r : Mr.Anand Sundaresan, Vice Chairman & Managing Director, Schwing Stetter (India) Pvt.Ltd., Prof.Sankaran Krishna, Dept. of Political Science, University of Hawai, Manoa, Honolulu & Dr.S.Venkataraman, Chairman, MCCI Education & Skill Committee & Vice President (Education & Training), The India Cements Ltd.
Prof. Vaidy Jayaram from Great Lakes Institute of Management in his address stressed on Lack of industry – academia synergy, Lack of research funding and lack of benchmark institutions. He stated that our curriculum, pedagogy, faculty, continuous learning and values & ethics are vital to reach the global standards Mr. S. Chandrasekar, Member Education Committee proposed the formal vote of thanks. The interaction with 60 participants who were a mixed group from Corporate, Academia, Universities, and training institutions was lively and the feedback was excellent.
15th July 2016 BREXIT and the Future of Globalization The Chamber organized an FFT on BREXIT and the Future of Globalization at Hotel Raintree, Anna Salai, Chennai. Mr.S.G. Prabhakharan welcomed the speakers and set the tone for the FFT. Mr. K.Venugopal, Director, Kasturi & Sons Ltd., made a detailed presentation on the history of Britain’s entry into EU and its exit. He elaborated on the referendum promise, the benefits to UK trade, why they exited, the rules made by Brussels and the threats from BREXIT to UK. Further, he analyzed the UK and India Trade Mr.Christie Cherian, Chairman, British Business Group interacting with the audience. Others in the picture ( l to r : Mr.K.Venugopal, Director, Kasturi & Sons, Mr.S.G.Prabhakharan, Past President, MCCI relationship giving vital statistics. Dr. Sunder Ramaswamy, Officiating Director and Distinguished Visiting Professor, Madras School of Economics, address on BREXIT covered the acronym ISIS – immigration, sovereignty, inequality, savings which were elaborated and set the audience thinking on the Future of Globalisation.
& Dr.Sunder Ramaswamy, Officiating Director, Madras School of Economics)
Mr. Christie Cherian, Chairman, British Business Group, Chennai being a British National and having had the experience of being part of the BREXIT gave an insider’s view of the BREXIT. It set the participants thinking on why BREXIT happened. The interaction was lively between the 70 participants and the speakers. ANNUAL REPORT 2016-17
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26th August 2016 ‘Madras’ Then and ‘Chennai’ Now The Chamber organised an FFT on Madras’ Then and ‘Chennai’ Now at Hotel Raintree, Anna Salai, Chennai. Mr.S.G. Prabhakharan welcomed the speakers and set the tone for the FFT by tracing the founding of the City. Mr. Pradeep Chakravarthy spoke on the “Then Madras” focusing on its history and heritage a 1000 years back. He detailed on the inscriptions found on the temple walls that consisted of information on the legal, political and economic nature of the society, languages used in the inscriptions, communities that settled as land owners and traders, tax system and the grants to temples given for social interests. Ms. Ranjani Manian’s address aimed at the transformation that Madras had undergone and become Chennai. She shared her experiences, challenges and enlightenment about the city and presented a short clipping about the expats
Mr.S.G.Prabhakharan, Immediate Past President, MCCI welcoming the speakers and the audience. On the Dais ( l to r : Mr.Chandu Nair, Entreprenuer & Advisor ; Ms.Ranjini Manian, Founder & CEO, Global Adjustments & Mr.Pradeep Chakravarthy, Leadership Coach & Author)
views on Chennai which was interesting to note. She stressed on a more inclusive Chennai. Mr. Chandu Nair directed his address on entrepreneurship and the change that the profile had adapted to in recent times. He drew a comparison between Chennai and Bangalore a few years back and now. The purpose/system of entrepreneurship about a 1000 years back [might], a few hundred years back [money] and in present days [mind] was sketched. It was followed by an interaction with 70 participants who gave a positive feedback.
18th January 2017 Cloud Computing – Whether or Wither? The Chamber organised the FFT on Cloud Computing – Whether or Wither at Hotel Raintree, Anna Salai, Chennai Mr. J. Raghunathan, Founder Director, KCIG and Chairman, Expert Committee on IT/ITes welcomed the speakers and set the tone for the FFT. Mr. Praveen Jayakumar, from Amazon Web Services made a presentation on the topic ‘The New Normal’. He elaborated on what is cloud computing and the advantages of cloud computing. Further, he elaborated on how Amazon is the cloud provider. Mr. Anuj Joshi from Omanvat Web Services made a presentation on ‘What Cloud is not?’ He stated that Cloud is a fundamental shift in delivery of products and services and explained about how safe Cloud is. He also added that the impact of
Mr.S.Ram, Vice President (Retd.), Tech Mahindra making a presentation. Others on the dais (l to r: Mr.Anuj Joshi, Co-Founder and CEO, Omanvat Web Services, Mr.J.Raghunathan, Chairman, MCCI’s Expert Committee on IT/ITES & Founder-Director, KCIG & Mr.Praveen Jayakumar, Territory Business Development Representative, Amazon Web Services.
cloud technology is being felt across sectors and verticals and it is time to change. Mr. Ram, Vice President, Retd. from Tech Mahindra made a presentation on the challenges of Cloud Computing. He stated that Security and Privacy, Service Quality, Access to Data are the challenges. Further, he elaborated on the ways in which the transition can be made to cloud and added that there is a prediction that by 2018, cloud computing market in India will cross 2 Billion $ It was followed by an interaction from 40 participants.
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EXPERT COMMITTEE PROGRAMS
Expert Committees for the year 2016-17 Name of the Committee Company Law/ Corporate Matters
Chairmen
Mrs. Bhavani Balasubramanian Partner Deloitte Haskins & Sells Banking, Finance & Mr.V.Sriram Insurance Chief Operating Officer ICRA Management Consulting Services Ltd. Corporate Social Mr.V.M.Rajasekharan Responsibility (CSR) CEO ITC Ltd. Direct Taxes Mr. Sriram Seshadri Partner – Tax & Regulatory Services Price Waterhouse & Co.LLP Economic Affairs Ms.Lakshmi Kumar Chairperson, PGDM Institute for Financial Management & Reserarch Education & Skill Dr. S. Venkataraman Vice President (Education & Training) The India Cements Ltd. Energy
Mr. S. Venkatachalam Managing Director Orient Green Power Co.Ltd.
Environment, Water Conservation, Pollution Prevention & Control HR & IR
Mr Dananjaya GM – Environment TVS Motor Co.Ltd.
Indirect Taxes
Industrial Development / Infrastructure IT/ITES
Legal Affairs
Logistics
Manufacturing
Small and Medium Enterprise (SME) VAT
Co-Chairman Mr. P. Viswanathan Secretary & compliance Officer, Sundaram Finance Ltd. Mr.N.S.Venkatesh Executive Director Lakshmi Vilas Bank Ms.Rajashree Natarajan Chief Operating Officer Cognizant Foundation Ms.Vidya Nagarajan Partner Ernst & Young LLP Mr.Rajan Ekambaram Partner Ernst & Young LLP Dr.Shanthi Assoc. Professor –Mkt & Chairperson, Centre for Ethics & Corporate Governance Loyola Institute of Business Administration Mr.P.B.Varadarajan President Renewable Energy Harvesting Environment Network Association (REHENA)
Mr. Anand Gopalan Partner TS Gopalan & Co., Mr. K. Vaitheeswaran Advocate &Tax Consultant K.Vaitheeswaran & Co., Mr Anand Madhavan Deputy General Manager ICRA Management Consulting Services Ltd.
Mr.A.Rajamanickam GM-HR I P Rings Ltd. Mr. K. K. Sekar Head -Indirect Taxes Ashok Leyland Ltd.
Mr. J. Raghunathan Founder – Director Knowledge Capital Investment Group Mr. Anand Gopalan Partner TS Gopalan & Co., Mr. U. Udayabhaskar Reddy Wholetime Director Sanco Trans Ltd. Mr.P.Jegannathan Vice President – Manufacturing & Logistics
Mr.S.Ramakrishnan Chief Information & Technology Officer Tractor & Farm Equipment Ltd. Mr.K.Jaganathan Head – Legal Services Larsen & Toubro Ltd. Mr.Pankaj Gadhia CEO Lee & Muirhead Pvt.Ltd. Mr.S.Sarathi Sr.Vice President Anand Automotive Ltd.
Mr.S.Prabhu Director Precision Equipments (Chennai) Pvt.Ltd. Mr. P. R. Subramaniyan Jt. General Manager & Head - Indirect Taxes L & T Construction
Mr. T. Amarnath Sr.General Manager – Indirect Taxes Tractors & Farm Equipment Ltd.
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EXPERT COMMITTEES
The following programs have been held under the auspices of various Expert Committees.
4th November 2016
COMPANY LAW
Meeting with the Officials of MCA, Chennai The Chamber organized an interactive meeting with the Regional Director and Registrar of Companies, MCA, Chennai under the auspices of the Company Law Committee at the Conference room of the Chamber. M r. S . B. G a u t a m , R e g i o n a l D i re c to r, M C A , Mr.Sridhar Parmarthi, Registrar of Companies, MCA and Mr.P.Achutharamaiya, Official Liquidator, MCA updated the participants about the latest procedures for statutory compliances of companies. Various queries were raised which were clarified by Mr. Gautam and Mr. Parmarthi. The meeting was attended by 16 persons.
Mr.S.B.Gautam, Regional Director, MCA, Mr. Mr.Sridhar Parmarthi, Registrar of Companies, MCA and Mr.P.Achutharamaiya, Official Liquidator, MCA interacting with Committee Members.
5th May 2016 NECTO 2016 – Joint program with Nextgen
CORPORATE SOCIAL RESPONSIBILITY
The Chamber, in partnership with Nextgen ,organized NECTO- a Corporate NGO Connect on 5th May 2016. “NECTO” (Latin for connect) is a common platform for corporate bodies and NGOs to share and discuss their experiences derived from CSR partnerships.
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Ms.Rama Kashyap gave the welcome address. Mr. Gupta from the Bombay Stock Exchange shared his views on CSR activities. Ms. Richa Bajpai, Co Founder of Nextgen moderated the entire session including the panel discussion which involved all the NGOs and Corporate present.
25th March 2017 – 8th April 2017 Certificate Program on CSR The Chamber organised an exclusive Training Program on Corporate Social Responsibility (CSR) for the benefit of Corporate Executives and professionals. This program was designed to help the executives examine their current CSR programs, to innovate and develop an overarching CSR strategy that reflects the unique requirements and goals of the company. ANNUAL REPORT 2016-17
Nextgen had organised for 12 presentations by NGOs who showcased their projects with an aim to foster potential collaboration with the Corporate. More than 22 Corporate invited by the Chamber had their CSR representatives present for the meeting. In the Panel discussion, the trends of CSR, the role of NGOs, Corporate, trust deficit that exists, how the relationship between the NGO and Corporate could be improved to take forward the CSR activities etc., were discussed. The participation from both Corporate and NGOs were good and there was a positive feedback for conducting such an event.
The first batch of the course commenced on 25th March 2017 and concluded on 8th April 2017 with 15 participants. The course duration is 3 Saturdays with 2 sessions on each Saturday. The topics covered included •
CSR Concepts & Strategy
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CSR Theme & Planning of CSR Activities, Evolution of Philanthropy & Laws Governing Philanthropy
Mr.V.M.Rajasekaran, CEO, ITC Ltd & Chairman, CSR Committee welcoming the participants and a session in progress.
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Legal aspects of Non-Profit Entities and Legal Regulatory aspects of CSR and Drafting & CSR Operations
The course was handled by professionals in CSR.
Mr. Ashoke Joshi, IAS (Retd.) Chairman, Srinivasan Services Trust, Chennai was the chief guest for the Valedictory Session on April 8, 2017. He distributed the certificates to the participants.
17th June 2016 Seminar on Transfer Pricing The Chamber under the auspices of the Direct Taxes Committee organised a one day Seminar on Transfer Pricing at Hotel Savera, Chennai
Mr.Sriram Seshadri, Chairman, MCCI’s Expert Committee on Direct Tax welcoming the gathering
The Resource persons were Mr. Soumitra Kumar Chakraborty, Director – TP, PWC, Mr. Ganesh Krishnmurthy, Director, BMR & Associates LLP, Mr. Jasdeep Singh IRS, Commissioner of Income Tax – Transfer Pricing, Income Tax Department, Chennai and Mr. Ashwin Viswanathan, ED,TP – E&Y. Mr. Jasdeep Singh answered the queries of all the participants in an exclusive one hour session moderated b y M r. A s hw i n V i s w a n a t h a n . The seminar was attended by 30 participants who gave a positive feedback.
DIRECT TAXES
The objective of this seminar was to understand how to manage the challenges in Transfer pricing in today’s business scenario and the impact of recent trends in Transfer pricing audits apart from other aspects of Transfer Pricing.
Mr.S.Sankaranarayanan, Deputy Secretary, MCCI welcoming the speakers of the Technical Session. (l to r : Mr.Jasdeep Singh, IRS., Commissioner of Income Tax, Transfer Pricing, IT Dept., Chennai & Mr.Ashwin Vishwanathan, Executive Director – Transfer Pricing, E&Y LLP)
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24th June 2016 Visit to Grundfos Pumps India Pvt. Ltd. The Chamber under the auspices of the Expert Committee on Energy & Environment and under its Sustainable Chennai Forum(SCF) arranged an Exposure Visit to Grundfos Pumps India Pvt Ltd’s headquarters at Chennai, on Friday, June 24, 2016.
ENERGY
This visit was arranged to have a firsthand knowledge on the good practices followed by Grundfos in maintaining the sustainability of their facilities, and understanding the Green Building Advantages. Mr.N.K.Ranganath, Managing Director, Grundfos made a presentation on the activities of Grunfos followed by an interaction. There was a guided tour of their facilities and the visit concluded with lunch hosted by Grundfos. The 18 participants from member companies gave a positive feedback.
The Visiting Delegation with representatives from Grundfos.
4th November 2016 Seminar on Energy Efficiency Technologies & Solutions for Buildings The Chamber joined hands with Japanese Business Alliance for Smart Energy Worldwide (JASE World) for a Seminar on ‘Energy Efficiency Technologies & Solutions for Buildings’ at Hotel Hyatt Regency, Teynampet, Chennai A detailed presentation was made by Mr. S.Venkatachalam, Managing Director, Orient Green Power Ltd., and Chairman, Expert Committee on Energy, MCCI on the Overview of the Power Scenario in India and Tamil Nadu and Trends for the future.
Mr.S.Venkatachalam, Managing Director, Orient Green Power Ltd. & Chairman, MCCI’s Expert Committee on Energy making a presentation
•
Introduction of EEC Management by Hokuriku Electric Power Company
This was followed by 3 presentations by the visiting Delegates from Japan as follows:-
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Introduction of EEC Technologies and Products by Mayekawa MFG. Company
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The seminar was attended by 50 participants. There were a few B2B meetings with the Japanese companies after lunch.
Heat Pump Technology & Current environment around Energy Saving for Building by Heat Pump & Storage Technology Center
INDIRECT TAXES
29th April 2016
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Session on Service Tax and Cenvat Credit – Recent Changes The Chamber organised a timely Session on “Service Tax and Cenvat Credit – Recent Changes” to understand the amendments and impact of the recent changes at Hotel Savera. Mr. K. Vaitheeswaran, Advocate, GC Member was the resource person. He made a detailed presentation which received a positive feedback from 60 + participants. ANNUAL REPORT 2016-17
Mr. K. Vaitheeswaran, Advocate & MCCI’s GC Member making a presentation
4th June 2016 Workshop on Domestic Enquiry @ Coimbatore(outreach program) The Chamber organised a “Workshop on Domestic Enquiry at Coimbatore. This is an outreach program which was a repeat of the workshop held in Chennai. Mr. Muthu Velappan, Senior VP, HR, Sakthi Sugars delivered the key note address. Mr. Akbar Khan, HR Consultant, Mr.R. Malavannan and Mr. Anand Gopalan, Chairman, HR & IR Committee made presentations to the 20+ participants. It was well received by the participants.
Mr.Anand Gopalan, Chairman, HR & IR Committee making a presentation. Others in the picture are (l to r : Mr.Akbar Khan, HR Consultant, Mr.Muthu Velappan, Senior VP-HR, Sakthi Sugars & Mr.S.Sankaranarayanan, Deputy Secretary, MCCI)
8th August 2016 Interaction Meeting with PF Commissioner & Officials on New E- Initiatives by EPF Department- @ E-Hotel, 3rd Floor, Engage Hall (Entry from Pattulos Road), Chennai-600002. Mr. Salil Sankar, Regional PF Commissioner made a detailed presentation on the new e initiatives. Mr. A. Sankar, Accounts Officer elaborated on a few initiatives for the benefit of the participants.
Mr. Anand Gopalan, Advocate & Chairman of the HR & IR Committee welcomed the PF Commissioners, their officers and the participants.
The interaction was lively and Mr. Salil Sankar promised to look into issues/concerns raised by some of the participants. There was a positive feedback for this interaction from 90 participants.
Mr. Anand Gopalan, Advocate & Chairman of the HR & IR Committee welcoming the PF Commissioners, their officers and the participants. Others on dias (l to r : Ms.K.Saraswathi, Secretary General, MCCI, Mr.Salil Sankar, Regional PF Commissioner & Mr.Rithuraj Medhi)
A view of the audience
HR & IR
The Chamber organized an Interaction meeting with the PF Commissioner to bring awareness to the members on the new e- initiative of the EPF Department.
24th September 2016 Management Development Program on Industrial Disputes Act Though the Industrial Disputes Act, 1947 is nearly 6 decades old, the industrial jurisprudence is constantly evolving due to judicial pronouncements and decisions of courts from time to time. This necessitates industries to be in constant updation and refresh themselves with the knowledge of the current developments, to deal with various stake holders
and compliances. In addition, the Central and State Governments have effected various changes (Standing Orders, ESI etc.) and a few other changes (Maternity Benefit, Factories Act etc.) are in the pipeline. With this background, the Chamber organized a one day program with focus and in depth analysis on ANNUAL REPORT 2016-17
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Industrial Disputes Act, 1947 and Recent Changes in Labour Laws at E-Hotel, Chennai. Mr.Anand Gopalan, Barrister, Partner, T.S.Gopalan & Co & Chairman, MCCI Expert Committee on HR & IR made an overall presentation about the Object, Scheme and Scope of Industrial Disputes Act 1947. Mr. Haroon Al Rasheed,Advocate, T.S.Gopalan & Co. detailed the types of Disputes and Changes in Service Conditions which included Collective Disputes and individual disputes, Change in conditions of service, Approval and Permission Petition, Complaint and Unfair Labour Practice.
Mr.S.Sankaranarayanan, Deputy Secretary, MCCI welcoming the gathering. Next to him Mr.Anand Gopalan, Barrister, Partner, T.S.Gopalan & Co & Chairman, MCCI Expert Committee on HR & IR
Ms.Madhri Guruswamy,Advocate, T.S.Gopalan & Co.,addressed on the Strikes, Lock outs and lay off, Retrenchment and closure.
HR & IR
Post lunch, Mr. Anand Gopalan briefed the participants on the recent changes and proposed amendments in the labour laws. Mr. Rajamanickam, GM, HR, IP Rings, & Co Chairman, MCCI HR & IR Committee proposed the vote of thanks. The program was attended by 47 persons who had a lively interaction with the experts.
Ms.Madhri Guruswamy,Advocate, T.S.Gopalan & Co., making a Presentation
27th January 2017 Interactive Meeting with Regional PF Commissioner & Regional Director, ESI Corporation The Chamber organized an Interactive meeting with the Officials of Chennai PF Commissionerate and ESI Corporation, Chennai at Hotel Deccan Plaza, Chennai. The objective of the meeting was to update the members about the latest changes in PF & ESI rules, updating the new schemes and to facilitate an interaction with the senior officials for mutual understanding. Mr.Salil Sankar, Regional PF Commissioner while addressing the participants made it clear to them that the Regional PF Commissioner’s office have made tremendous changes in their approach towards it customers and is all set to assist the Industries and its employees. He briefed on the Employees Enrolment Campaign 2017 or the Pradhan Mantri Rojgar Protsahan Yojana and informed that his office will make an elaborate presentation for the benefit of the participants. Mr.P B Mani, Regional Director, ESI Corporation elaborated on ESI provisions and its benefits to the participants. Two presentations were made by the officials from the PF Regional Commissioner’s office, one on the Employees Enrolment Campaign 2017,
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Mr. P.B.Mani, Regional Director, ESI Corporation addressing the audience. Others seen in the picture (l to r : Ms.K.Sarswathi, Secretary General, Mr.Salil Sankar, Regional PF Commissioner & Dr.R.Magesh)
Amnesty Scheme and the procedures to be followed for entering into the scheme and the other on the eligibility, incentives available to employer and what happens after March 31, 2017. The ESI officials made a presentation on the ESI schemes. The interactive session was good with 65 members participating in this program. The program concluded with high tea.
16th April 2016 Completion of IR Course During the valediction, Ms. Kalaivani, Joint Commissioner of Labour attended the meeting. Mr.T.S.Gopalan, Senior Advocate, Madras High Court, Chief Guest, addressed the participants and delivered the certificates to the 25 participants. Special awards were given to participants who managed to achieve 100 percent attendance.
Mr.T.S.Gopalan, Advocate, Madras High Court, addressing the participants in the Valedictory session. Others seen are Ms. Kalaivani, Joint Commissioner of Labour, Ms.K.Saraswathi, Secretary General and other faculties Mr. Anand Gopalan, Mr.Akbar Khan, Mr. Sridhar Rajagopalan)
Participants with Chief Guests, Faculties and MCCI Secretariat
HR & IR
The Industrial Relations Course, which commenced on Jan 30, 2016 under the auspices of the Legal Committee headed by Mr. Anand Gopalan, concluded on 16th April 2016. The classes were conducted every Saturdays in the Conference room of the Chamber with IR Experts as core resource persons. Mr. Anand Gopalan, Mr. Akbar Khan, Mr. Sridhar Rajagopalan conducted the sessions.
19th April 2016 Seminar on The Changing Landscape of Arbitration in India with NPAC The Chamber in association with Nani Palkivala Arbitration Centre (NPAC), Chennai organised a Seminar on ‘The Changing Landscape of Arbitration in India’ at Hotel Raintree Anna Salai, Chennai600035. The objective of this Seminar was to understand and discuss the emerging trends of Arbitration in India, to understand the views from different stakeholders and also to make a critical analysis of Arbitration and Conciliation Amendment Act 2015. Mr. S.G. Prabhakharan welcomed the participants. Mr. M.S. Krishnan Senior Advocate & Director, NPAC gave an overview of the Arbitration and introduced the themes to be discussed. The Chief Guest Justice Mr. Ramasubramanian’s address was elaborate with anecdotes and case laws. A few case laws brought out the complexity of legal issues when agreements are drawn. He concluded his address by stating that if sound judgements are passed on cases meting justice by the Judges, then people will trust the Judges to pass good judgements as Arbitrators and will resort to Arbitration.
Mr.M.S.Krishnan, Senior Advocate & Director, NPAC giving an Introduction & Overview of the Seminar. Others on the Dias are (l to r : Ms.K.Saraswathi, Secretary General, MCCI, Mr.S.G.Prabhakharan, President, MCCI, Hon’ble Justice Mr. V.Ramasubramanian, Judge, Madras High Court & Mr.Anand Gopalan, Advocate & Chairman, MCCI’s Legal Committee
Mr. Anand Gopalan, Advocate, Chairman, Legal Committee, MCCI proposed the formal vote of thanks. In the first session on Arbitration and Conciliation Amendment Act 2015 – Impacts, Mr. N.L. Rajah, Advocate, drew a comparison between Arbitration and Panchayats and explained the advantages of Arbitration. Mr.Rahul Balaji, Advocate gave a succinct analysis of impact of the Arbitration Act while Mr. Anirudh Krishnan, Advocate in his presentation insisted upon Neutrality, cost and speed to streamline the arbitration process. ANNUAL REPORT 2016-17
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In the Second Session on Effects of Arbitration Amendment Act –Arbitrators Perspective, Mr. K.D. Arcot, Engineer and Arbitrator made a detailed analysis of the Act based on what is good, not so good and what is missing. Hon’ble Justice Ms.Prabha Sridevan (Retd), Judge, Madras High Court addressed on how an Arbitrator should dispose the cases and explained about the cooperation required from both sides seeking arbitration. In the third Session on The Arbitration Process – “Is there any light at the end of the Tunnel?”, Mr. T. T. N. Sudharshan, Joint General Manager – Legal, L & T Construction made a presentation on the issues prior to amendment with case laws, and on the impact of Arbitration process post amendment. Mr. K. Pradeep, Manager – Legal, Sundaram Clayton Ltd. elaborated on the issues of agreement while entering in a contract for Arbitration and added that
Hon’ble Justice Mr. V.Ramasubramanian, Judge, Madras High Court addressing the audience
capitalising on the leverages provided in the arbitration law, a comprehensive Arbitration Agreement can be entered into between the parties . There were 40 participants who gave an excellent feedback.
LEGAL
5th November 2016 Training Program & Discussion - Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act 2013 The Chamber scheduled a half-a-day training cum discussion session on Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act 2013 at E Hotel, Chennai. The objective of the program was to understand the provisions of the Act, legality, compliance, procedures, issues arising out of the proceedings etc.
Ms.Saras Bhaskar, Counselling Psychologist & Coach, Bloom Health care & Founder of Professional Counseling making a presentation
Ms. Madhri Guruswamy, Advocate, representing TS Gopalan & Co., made a presentation on the Role of the ICC and implementation of the SHAW Act. The presentation covered the procedures to be followed for making complaints, procedures to be followed in an inquiry, powers of the ICC, compensation and provisions to appeal. Further, Ms. Madhri discussed the Legal Provisions of Sexual Harassment by elaborating on the Vishaka Case and a few other cases before the Act. In the same presentation, the Employers’ role in setting up Internal Complaints Committee (ICC) constitution, duties, responsibilities of ICC were covered for the benefit of the participants. Ms.Saras Bhaskar, Counselling Psychologist & Coach, Bloom Health care & Founder of Professional
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A section of the audience
Counseling Services highlighted on the psychosocial impact of utilizing sensitivity when ICC members conduct "Sexual harassment” inquiries which involves "barefoot counseling". The 60+ participants had an opportunity to clarify their queries from the resource persons and the feedback received for the seminar was excellent.
2nd April 2016 Visit to Coastal Guard Ship Sarang A team of representatives from the Chamber visited the Coastal Guard Ship Sarang on April 2, 2016, thanks to the efforts of Mr. J.Krishnan, General Committee Member. It was a memorable experience for the team who had a guided tour of the entire ship. They had a sumptuous dinner with the hosts from Sarang.
12th April 2016 Special focus on AEO & Single Window Project The Chamber organised a Seminar with Special focus on Authorised Economic Operator (AEO) and Single Window Project. This was a unique program in which the business community could get a clear understanding of the schemes from the experts and derive innumerable benefits by making optimum use of these schemes. Mr. Udayabhaskar Reddy, Chairman, Expert Committee on Logistics welcomed the speakers and the participants and gave a brief introduction about the importance of Authorised Economic Operators.
Mr. Pankaj Gadhia, Co Chairman Expert Committee on Logistics proposed the formal vote of thanks. The program was attended by 70 participants and there was excellent feedback.
18th April 2016 4th Trade Meet with KPL The 4th Trade Meet was jointly organised by the Chamber with Kamarajar Port Ltd. at Hotel GRT Grand, Chennai. The objective of the meeting was to convey the expectations and needs of the users of the Port and other stakeholders to the Port Authorities and to understand the upgraded facilities and services of Kamarajar Port Ltd. This meet was to facilitate interaction between the port authorities and the port users to enhance the EXIM trade by taking advantage of the various facilities offered by the Port. Mr. S.G.Prabhakharan, President, MCCI welcomed all the representatives of the EXIM Trade. Mr.M.A.Bhaskarachar, CMD, Kamarajar Port Ltd. gave an account of the Kamarajar Port growth story and its future projected trajectory.
Dr.K.Venkat Ram Reddy IRS, Additional Director, Directorate General of Performance Management, Customs, Central Excise & Service Tax, Chennai addressed the participants on the Authorised Economic Operators Scheme and encouraged the members to apply for the same.
Mr. V. Krishnaswamy General Manager, KPL made a brief presentation on KPL’s achievements.
Mr.Udaya Bhaskar Reddy, welcoming the speakers and participants.
Mr.M.A.Bhaskarachar, CMD, Kamarajar Port Ltd. briefing the growth story of Kamarajar Port. Others on the dias (l to r : Mr.V.Krishnaswamy, Mr.N.Suresh, Mr.U.Udayabhaskar Reddy, Mr.S.G.Prabhakharan & Mr.Sanjay Kumar)
LOGISTICS
Mr. K. Raghu N Chary, Principal Commissioner of Customs, Chennai VII Commissionerate was a special invitee who attended the meeting. He briefed the participants about the support that would be provided by the Customs for smooth transactions in EXIM Trade .
Mr. N Sankaranarayanan, Dy. Commissioner, Customs & Incharge of EDI, Chennai addressed the participants on the Indian Single Window Project in Customs which has been made effective from April 1, 2016. He made a detailed presentation on the advantages of the Single Window project.
In the technical session, Mr. N.Suresh, Vice President, Chettinad International Bulk Terminal made a presentation on the proposed multi cargo terminal at KPL, major components of the project, current progress, the potential cargo centres which would benefit from this project and the Port users advantage
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in cargo operation. Mr Sanjay Kumar, Director – Operations, Kamarajar Port Ltd, made a presentation on the mode of Development of Free Trade Warehousing & Productivity Improvement in KPL and the salient features of the proposed free Trade warehousing zone. Capt C.V.Ramnath, Business Head, Adani Ennore Container Terminal Pvt.Ltd made a presentation on the connectivity and infrastructure facilities of the Adani Ennnore container terminal. Mr.M.Gunasekaran, General Manager – Finance, Kamarajar Port Ltd. proposed the formal vote of thanks There were vibrant interactions by more than 60 participants.
Mr. R anjan Kumar Routray, IR S , Principal Commissioner, Chennai Airport addressed the audience on the important changes that would impact warehouse keepers Mr. Raghu N Chary, IRS, Principal Commissioner, Air Cargo, stressed on the responsibilities entrusted upon warehouse keepers by the new provisions of the act in his address to the participants. The team of Officers made 2 detailed presentations on the warehousing amendments which was followed by a lively interaction.
2nd June 2016
Mr. M. S. Arun, Chairman, NACFS proposed the formal vote of thanks.
Discussion on Amendments in Warehousing Provisions under the Customs Act
The program was attended by 110 participants and there was positive feedback
The Chamber jointly with NACFS, organised a ‘Discussion on Amendments in Warehousing Provisions under the Customs Act’ at the E hotel, Chennai.
LOGISTICS
The Chief Guest Mr. P.K.Das, IRS Chief Commissioner of Customs in his inaugural address stressed on the importance given to Warehouse keepers by the Government of India and described as to how they should take up the responsibility with due diligence.
The Finance Act 2016 which was recently passed by both the Houses of Parliament, made significant changes under Chapter IX of the Customs Act 1962 particularly on Warehousing Provisions, effective from 14th May 2016. As these changes and Amendments would have a tremendous impact on Logistics, manufacturing, importers & exporters, CFS, Airline Operators, Customs Brokers and other related segments in the supply chain management, a discussion with the Senior Officers of the Customs was organised. Mr. Balachandra Datta, Vice President, Hyundai Motor India & Member, GC Committee gave a formal welcome address and briefed about the importance of this discussion.
24th June 2016 Group Discussion on IMO’s Mandatory Container Weighing Regulations: Is the Trade Ready? The Chamber partnered with the Exim Shipping Times for the Group Discussion on “IMO’s Mandatory on Safety of Life at Sea (SOLAS) Regulations which is effective from 1st July 2016” held on 24th June 2016 at ITC Grand Chola, Chennai. It was part of the 8th South East CEO Conclave Awards 2016. Mr. Sundaram from Super Auto Forge, a member company presented the concerns of the Industries in this session. Mr. Udayabhaskar Reddy, Chairman, Logistics Committee proposed the vote of thanks.
16th July 2016 Workshop on recent changes in Customs Law Procedures The Chamber organised a half-a-day Workshop on “Recent Changes in Customs Valuation” on 16th July 2016 at E-Hotel, Chennai. The objective of this workshop was to bring awareness and understanding of the circulars issued by Central Board of Excise & Customs (CBEC) prescribing procedure for investigation of related party import cases and other cases by the Special Valuation Branch (‘SVB’) of Customs.
Mr. Balachandra Datta, Vice President, Hyundai Motor India & Member, GC Committee briefing the Program and welcoming the Chief Guest and participants.
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Mr. K. Vaitheeswaran delivered the welcome address and gave an introduction about the program.
Mr. P.Kaniappan, Managing Director, Wabco India Ltd. and GC Member inaugurating the course Chief Guest, Mr. P.K.Das, IRS, Chief Commissioner of Customs, Chennai interacting with audience and answering their querries.
Mr. P.K.Das, IRS, Chief Commissioner of Customs, Chennai, Chief Guest addressed the participants. He gave an overview of the circulars issued by the Department. He assured that this new procedure will bring a radical shift in the approach and functioning of SVB. He clarified the queries raised by the participants and showed his positive approach and willingness to resolve any pending issues in the Department.
Mr.R.Kannan, Asst. Commissioner & Mr.Arun Kumar Sharma, Appraiser, Customs – SVB addressed on the Customs Valuation and clarified the queries relating to the valuation. Mr.T.Prabhakar, Deputy Commissioner of Customs, Chennai, made a Presentation on RFID & Bond modules. The interaction was lively between the 50 participants and the officers from CBEC and faculty.
2nd July 2016 – 20th August 2016 Certificate Course on Basics for EXIM Professionals The Chamber launched a Certificate Course on Basics for EXIM Professionals. Mr. P. Kaniappan, M.D., Wabco India Ltd., GC Member inaugurated the Course and addressed the participants. The classes were conducted on Saturdays for 6 hours and the course duration was approximately for 7 weeks. 12 participants attended the course. Experts such as Mr. J.Krishnan, GC Member, Mr. Udayabhaskar Reddy,Chairman, Logistics Committee, Mr. S. Murugappan, Advocate and Mr. Pankaj Gadhia Co Chairman, Logistics committee were the faculty for
A Session in progress
the classes. The Chamber took the participants on a field visit to the Airport. In the valedictory function held on August 20,2016, Mr. G.V.Raman, GC Member addressed the participants and distributed the certificates.
LOGISTICS
Mr.B.Sriram Partner-Tax & Regulatory Services, Ernst & Young presented on the related party customs valuation. (SVB).
The feedback from the Participants was positive.
10th September 2016 Training Program on Import & Export Documentation Procedures The Chamber organized a one day training program on Import and Export Documentation Procedures with the objective of educating the participants with the basics of Export / Import Management and to update their knowledge about the latest changes at Hotel Deccan Plaza, Chennai U. Udayabhaskar Reddy, Chairman, Expert Committee on Logistics welcomed the gathering. The special address was by the Guest, Mr. Sanjit K Samal, ITS., Zonal Additional Director General of Foreign Trade,Southern Zone Mr.J.Krishnan, GC Member, resource person for this program elaborated on the importance of documentation and enlightened the participants ANNUAL REPORT 2016-17
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on the topics which includes introduction and importance of Export & Import Documentation, Export Documentation procedures, Terms of Delivery and Terms & Payments with L/C terms with examples, case laws etc. Excellent feedback was received from the 45 participants who took part in the program. Mr.J.Krishnan, Partner, S.Natesa Iyer & Co., and MCCI’s GC Member making a presentation & interacting with audience
16th November 2016
LOGISTICS
Visit to Adani Container Terminal As part of the work plan of the Logistics Committee, a visit to Adani Container Terminal was arranged by the Chamber to have a firsthand experience of the facilities offered, as the terminal would be ready for operations from December 2016. Mr. Rajkumar, General Manager, Operations and Capt. Ramnath gave a warm welcome to the delegates and explained about the facilities of the Container Terminal. The various queries raised by the delegates were clarified.
MCCI Team Visit to Adani Container Terminal
The 25 Delegates who were from the Manufacturing and Logistics sector were appreciative of the facilities offered by the Adani Group. The visit was followed by a Presentation by the Adani Group at Hotel Savera to the delegates followed by Dinner hosted by Adani group.
22nd December 2016
MANUFACTURING
Visit to Wabco India Ltd.
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The Chamber under the auspices of the Expert Committee on Manufacturing arranged an exposure visit to Wabco India Ltd’s headquarters at Chennai on 22nd December 2016. This visit was arranged to have a firsthand knowledge of the good practices followed in manufacturing line and the various innovative production techniques. Further, the objective of the visit was to enable the participants to understand the initiatives to deliver the Quality, Cost, Delivery rate with highest level of safety to the expectations of the developed nations.
Mr. P.Jegannathan, VP – Manufacturing & Logistics, Wabco and Chairman, MCCI’s Manufacturing Committee making a presentation & interacting with participants.
Mr. P.Jegannathan, VP – Manufacturing & Logistics, Wabco and Chairman, Manufacturing Committee of MCCI who was instrumental in arranging this visit made a brief presentation on the activities of Wabco.
the participants. The lunch for the participants was hosted by Wabco
After the presentation, there was a guided tour of their facilities followed by an interaction session with
The 25 participants from the various member companies gave a positive feedback.
ANNUAL REPORT 2016-17
MCCI Members along with Wabco Officials
TRADE SERVICES
Trade Information and Library
ASSOCHAM
Trade enquiries received by the Chamber during the year related to imports, exports, joint venture possibilities, foreign collaborations have been replied accordingly.
The Madras Chamber is a Promoter Affiliate of The Associated Chambers of Commerce & Industry of India (ASSOCHAM), New Delhi.
The Chamber has a compact library. Additions to the library are being intimated to the members through the Bulletin. The Chamber issues certificate of origins for goods being exported to other countries, attests export documents, invoices, agreements, sales contracts, etc., The Chamber also issues letters to the various Embassies, Consulates recommending grant of visa for business travel. This service is provided only to members.
Advisory Services Arbitration The Chamber undertakes arbitration between members and also between members and nonmembers on request. It has a panel of arbitrators. The Chamber is a life member of the Indian Council of Arbitration, New Delhi
FICCI The Chamber is also a member of the Federation of Indian Chambers of Commerce & Industry, New Delhi Consultative Committee of City Chambers of Commerce (CCCCC) The Madras Chamber of Commerce & Industry is a member of CCCCC. Consultative Committee of City Chambers of Commerce (CCCCC) was formed to act as a collective forum for taking up common issues of Industry and Trade with the State and Central Government. It comprises of 6 Chambers namely, Andhra Chamber of Commerce, Hindustan Chamber of Commerce, National Chamber of Commerce, Southern India Chamber of Commerce & Industry Tamil Chamber of Commerce and The Madras Chamber of Commerce & Industry. The Chairmanship of the CCCCC is given on rotation basis to the Chambers to take up activities as a collective forum as and when required.
Representations to Government The Chamber sent the following representations to various bodies: Date 8th June, 2016
16th June, 2016
Representation TN VAT Act – Implementation of TSP Systems – Issues & Suggestions SOLAS Regulation w.e.f 1st July 2016
4th August, 2016
GST – Model Law
25th October, 2016
Industrial Employment (Standing Orders) Tamil Nadu Amendment Act 2008 – Joint Representation of Employers’ Orgn.
Addressed to Mr.S.K.Prabhakar, IAS Principal Commissioner of Commercial Taxes, Chennai Mr.Deepak Shetty, IRS Director General of Shipping Directorate General of Shipping, GoI, Mumbai Hon’ble Shri Arun Jaitley Hon’ble Finance Minister GoI, New Delhi Ms.P.Amudha, IAS Secretary to Government, Labour & Employment Department
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MEMBERS SPEAK Workshop on Digital Marketing Thank you for conducting such a great workshop, I’m happy to have been part of such an incredible event. Thank you Regards Surjeet Kumar Schwing Stetter India
FFT on “Will our Education System attain Global Standards” The FFT seminar on education was outstanding. All the three speakers spoke very well and Dr. Venkatraman who chaired the session was also very knowledgeable. Well attended . The questions were also top class which were equally replied properly. If time had not been the limiting factor, the Q & A session would have extended for another 30 to 45 minutes. Congrats. Best wishes, R. Ramamurthy. Cyber Security Systems
FFT on “BREXIT and the Future of Globalization Thanks for remembering to invite me for today’s event. I think it was a great exchange and I surely did benefit. Thanks Aubrey Daniels Regional Director, AmCham India – Tamil Nadu Chapter Thank you for inviting me for the breakfast talk on Brexit impact. It was most useful and speakers and the way you conducted was brilliant . Best Regards Ashok Natarajan CEO, Tamil Nadu Water Investment Company Ltd An ILFS and TN Gov SPV
Roundtable on “Exploring Effective CSR Initiatives in Water and Sanitation” Thank you for your invitation and the program was very useful. Thank you. Anbarasu R C Asst. Manager - CSR Michelin India Pvt. Ltd
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“Discussion Meet on the Recent Judgment on Entry Tax - Impact on a GST Scenario The GST event in Rain tree was very good. I got the chance to meet and got to know about many things related to the upcoming rules for GST. Thanks, Swagat Choudhury
AGM Dear Ms Saraswathi, I am thankful to you for extending me an invitation to attend your Chamber’s AGM held on 2nd August, 2016 in Chennai. It was an excellent meeting which was organised thoroughly professional and participated by the captains of industry from Chennai. I must commend and compliment you and the Chamber for identifying such wonderful speakers who gave was an excellent view of the emerging Indian economy and how as an organisation we could contribute in scaling up the skill development on a sustainbale basis towards the overall development of the nation and economy. We were deeply soaked through out their address and were richly enriched by their valuable wisdom and indepth knowledge. Overall the arragments were par excellence and it gave me a unique opportunity to restablish my contacts with so many friends from the industry with whom I have been interacting since my ASSOCHAM days. Certainly we look forward to working with you in the future and I am sure I can count upon your support and cooperation in all our endeavours. Our best wishes to you and to your Chamber on the completion of 180 years of illustrious service to the nation and Industry in particular. Sampath Kumar Director – South India Austrian Trade Office Bengaluru
GUEST SPEAKS
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CHAMBER IN THE NEWS ual rightsshed: 01st March 2017 03:17 AM All aboutwseq Service | Publi A+A A- |
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Indian industry does not have level playing field, says ICL's N Srinivasan Srinivasan also told entrepreneurs that there was no room for 'complacency' BS Reporter | Chennai September 30, 2016 Last Updated at 15:48 IST
India Cements VC and MD N Srinivasan The Indian industry is forced to run a race with legs and arms tied behind, said N Srinivasan, vice-chairman and managing director of India Cements Ltd. Speaking at the Madras Chamber of Commerce & Industry's Chamber Day function at Chennai on Thursday evening, he said that after years of buoyancy, the Indian economy had languished during the last stages of Congress-led UPA regime and it has not picked up as expected in the current NDA regime. On the Make in India policy, he said, "It is easy to say you must be cost competitive, but do we have a level plying field on the taxes front," said Srinivasan, who urged for a level playing field for India Inc to compete with foreign multinationals. He said that, today, the Indian industry is facing a huge burden of indirect taxes, high cost of money and interest cost at around 12 per cent, free imports without any duty, lower import duty on raw materials than finished product etc. There are fresh challenges. The licensing committee has gone, but the environment committee has come. If one wants to set up a project, it takes two or three years. They have to get environmental clearances; they have to reckon with huge cost of land, said Srinivasan. "Today, it is so difficult to run an industry when the doors are open to anyone wanting to set up a project. Indian industry is forced to run a race with its legs and arms tied behind," said Srinivasan. On the growth of the Indian economy post liberalisation (since 1991), he said that Indian corporates had free access to capital, technology and India was flooded with imports and foreign investment. The IT industry grew in tandem and supported imports. Along with foreign institutional investor, foreign direct investment and foreign investments in various shapes and forms had helped the country to build forex of $350 Billion. He said that the domestic market has survived despite the global economic and European Union crisis and high oil prices. This, along with a domestic economy with huge consumption and without much dependency on the external markets, helped the country to stand firm despite many external crises, collapse of economies and currencies. In a word of advise to entrepreneurs, Srinivasan said, there is "no room for complacency. Times are changing. Be vigilant. Innovations are taking place. It is a border-less world. You will become irrelevant without even knowing...". "The resilience and fighting spirit of the Indian entrepreneur is something to be seen to believe. Themanufacturing sector must be saluted for operating in difficult times," said Srinivasan.
22/07/2016
Industries heave a sigh of relief - TAMIL NADU - The Hindu
» TODAY'S PAPER » TAMIL NADU
Published: July 22, 2016 00:00 IST | Updated: July 22, 2016 06:03 IST Chennai, July 22, 2016
Industries heave a sigh of relief Staff Reporter No new tax being levied in the State budget was a relief to industries and chambers of commerce. The Madras Chamber of Commerce and Industry said that the budget aimed at balancing both the economic and social development goals of the State. Chamber’s president S.G. Prabhakharan said, “an allocation of Rs. 2,107 crore to industrial development and proposals for new industrial parks, including setting up an aerospace park, and NIMZ will help the growth of MSMEs and enhance employment. However, port development and port connectivity has not been given the due attention, it is felt,” he added. ‘Welcome move’ An industrialist, who spoke on condition of anonymity, said, “The announcement on Tamil Nadu Global Investors Meet is a welcome move. But we need to wait and watch the results of the GIM that concluded in September last year.” Printable version | Jul 22, 2016 10:56:11 AM | http://www.thehindu.com/todays-paper/tp-national/tp-tamilnadu/industries-heave-a-sighof-relief/article8883826.ece © The Hindu
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th ’ – BL – 30 Sep’16 ing field against global cos ‘Industry needs level play 6 21:50 IST | Our Bureau
201 Updated: September 29,
Jan Luykx, Belgium’s MD, India Cements, and an, Vice-Chairman and ident, MCCI ; N Srinivas Ram Venkataramani, Pres y | Bijoy Ghosh I, in Chennai on Thursda d the market, said N the Chamber Day of MCC foreign investments floo Ambassador in India, at with global players as
level playing to compete Indian industry needs a of India Cements . stry, particularly an and Managing Director airm -Ch Vice rsalisation, the Indian indu an, ivas Srin industrial sector post -libe the in es ess stori bitant land prices. succ exor y and man tax been rect indi have e e Though ther interest cost, hug lenges faces challenges of high es. But, the domestic chal the manufacturing sector, eEU crisis and high oil pric sector. “We can be mor global economic crisis, g the turin ived ufac surv man has of ket th r of g the grow The domestic mar t of the Madras Chambe clearances are hinderin iden ent pres er ronm form envi an, in ys ivas including dela d,” observed Srin y. challenges are addresse brations here on Thursda competitive if these fresh MCCI’s Chamber Day cele stay relevant.” (MCCI), while addressing and s stry lder Indu shou and ce your mer over Com entrepreneurs to “look and rtunities, he urged Indian e government authorities Elaborating on the oppo a delegation to meet Stat future. “Do ors are open Jan Luykx, who is leading in a, hip Indi ners in part ium the Belg of grow Earlier, Ambassador ium have huge scope to , said both India and Belg our people,” he added. business community here to do more business with ity ding the one on start -up mun com ness busi es of the chamber, inclu for Indian lighted the recent initiativ high CI, MC t, er. iden pow Pres man Ram Venkataramani, g plans relating to skilled sector, and the upcomin businesses in the non-IT
workers in yet to get social a in
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bodies.
Supply in city with provident security beto The Provident nefits. is deout to clare about workers in April the employee to extend 1998 employers' the to workers. and there be of an in- no on delayed enrolOn ment. This scheme be on teractive bers of Madras Chamber of till March 31. Industry. are in touch with various institutions here on Friday, Regional University to regularof all worksioner-I , re: tion
,
of
contract bodies
in
with
to
covered benefits,
be
bodies benefits is also a scheme promote registraof employers emcent o f . ployees. be P.B. regional director, the ceiling on On salary to be provided with benefits has been the to are being with refactories to to workers under ESI act. to cover the some of just glitches now belts. We have that ESI an society body to quicker decisions on State Insurance he ers,'" he
60
the State
17/12/2016
Scaling up a major challenge for SMEs, say experts | Business Line
Scaling up a major challenge for SMEs, say experts OUR BUREAU
Srinivasan, Zonal Head, Federal Bank; Raghuttama Rao, MD, ICRA Management; Lokeshwarri SK, Head- Research Bureau, Business Line ; A N Jha, Bijoy Ghosh GM, SBI; K Krishna Kumar, MD, Leitwind Shriram Manufacturing Ltd; and N Madan, Partner-Tax, Pw C, at Propel, an SME conclave in Chennai, on Friday 1
Online Businesses for Sale
2
TV Listings Guide
3
New Business Ideas
Chennai, December 16: Small- and medium-scale enterprises, which account for significant employment generation in the country, should find their niche and be competitive to scale up their business and find better access to funding, say experts. Speaking at an SME conclave organised by the State Bank of India and BusinessLine in partnership with Madras Chamber of Commerce and Industry, Raghuttama Rao, Managing Director, ICRA Management, said: “SMEs, http://www.thehindubusinessline.com/economy/scaling-up-a-major-challenge-for-smes-say-experts/article9431011.ece?homepage=true&css=print
1/3
'Improve ease of business to set T.N. on higher growthorbit' Assocham-MCCI study also lays
for industrial resurgence
SPECIAL CORRESPONDENT CHENNAI: The Tamil Nadu government needs to improve the 'ease of doing business' in theStatefor industriesand have a transparent and faster approvalprocessto achievea higher rate of growth, top officialsof two industry bodies said. Releasing an 'Action agenda for the new government of Tamil Nadu', officials of and Madras Chamber of Commerce and Industry (MCCI) said the government had to create an environment "where you don't have to go to the governmentfor all approvals." It has to be a normal natural process that doesn't involve the industries minister the Chief Minister at stage. "Their role is to facilitate and create a policy Mr.
PROSPECTS: TheState has the potential to create 90 lakh jobs, the study says. -
ria, Assocham, said while pointing out that the average annual growth rate in Tamil Nadu had been just over seven per cent in the past three years. The action agenda, based on research done by MCCI and Assocham, said Tamil Nadu has the potential to create 90 lakh jobs and at-
tract investments worth 22 lakh crore over the next five years. The industry bodies also wanted the Tamil Nadu government to support the GST bill as it would make trade betweenStateseasier. "Right now, it is easier to do business outside India than within India. GST will
solve that problem. Also, a large number of engineering graduates are not immediately employable. The government can consider setting up skill development centres to make graduates S.G. employment-ready,'' President, MCCIsaid. "Themajor challengesfacing the State are: dismal growth of agriculture, slow pace of industrial growth, power shortage, infrastructure bottlenecks, gender gaps, low quality of educational outcomes, health and nutritional issues, rapid banisation and related migration, skill development, climate and environmental concerns:' the action agenda paper The industry bodies were of the view the State can become a with positive interventions from the government.
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MCCI Representation on Public Bodies Organisation Central Excise Commissionerate I Regional Advisory Committee
Central Excise Commissionerate II
Representative Mr. K. Vaitheeswaran Advocate & Tax Consultant Mr. P. R. Sudhakar Brakes India Ltd. Mr. P. R. Subramaniyan Larsen & Toubro Ltd. (Construction)
Regional Advisory Committee Central Excise Commissionerate III
Mr. K. K. Sekar Ashok Leyland Ltd
Regional Advisory Committee CE – Public Grievance Committee Central Excise Commissionerate IV Regional Advisory Committee Regional Direct Taxes Advisory Committee Regional Advisory Committee of Central Excise
Member, Airport Users’ Consultative Committee (AUCC) Board of Trustees, Chennai Port Trust Ennore Port Advisory Board Chennai Trade Coordination Committee Customs Advisory Committee Cargo Facilitation Committee – AAI
Mr. P. R. Sudhakar Brakes India Ltd. Mr. Sriram Seshadri BMR & Associates LLP Mr. K. Vaitheeswaran Advocate & Tax Consultant
Mr. J. Krishnan S.Natesa Iyer & Co.
Business Development Cell of Chennai Port Trust Sustainable Chennai Research Consortium University of Madras – Oikos Chennai Chapter Voluntary Health Services – Central Committee
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Ms. K. Saraswathi Secretary General
THE ORGANISATION
PRESIDENT VICE PRESIDENT GENERAL COMMITTEE SECRETARY GENERAL Specialized Committees -
Company Law /Corporate Matters Banking, Finance & Insurance Corporate Social Responsibility (CSR) Direct Taxes Economic Affairs Education & Skill Energy Environment, Water Conservation, Pollution Prevention & Control HR & IR Indirect Taxes Industrial Development / Infrastructure IT & ITES Legal Affairs Logistics Manufacturing VAT
Trade Information: Publications Members’ database Information database Website
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Auditors: Messrs. RGN Price & Co., Chennai Madras Chamber Secretariat: Ms. K Saraswathi Mr. S. Sankaranarayanan Ms. Madhumathi C Ms. B Highland Mr. P. S. Mohan Ms. D. Vasumathi Ms. R.Jayalakshmi Mr. R. Rajesh
Secretary General Deputy Secretary Deputy Secretary Manager (Trade Facilitation) Manager (Accounts) Executive (Admin & Programs) Executive (Member Services) Executive (Accounts)
Support Staff Mr. A. Elumalai Mr. R. Suresh
ANNUAL REPORT 2016-17
85
CORPORATE MEMBERS
A 360 Degree Global Equipment Pvt. Ltd. 4 I Apps Solutions Pvt. Ltd. A J Trust Educational Consultancy A R Krishnan & Associates A S Shipping Agencies Pvt. Ltd. A V Thomas & Co. Ltd. Aachi Cargo Channels Pvt. Ltd. Aapt Distribution Pvt. Ltd. Abhyas Academy Abirami Soap Works LLP Acrastyle Power India Limited Adani Kattupali Port Ltd. Adayar Gate Hotel Ltd. Addison & Co. Limited. Adrenalin eSystems Limited Agaram Infotech Pvt. Limited AGP International Services AGX Logistics India Pvt. Ltd. Akzo-Nobel India Limited. Alcatel-Lucent India Limited Alfanar Engineering Services India Pvt. Ltd. Alliance Infrastructure Projects Pvt. Ltd. Allison Transmission India Pvt. Ltd. Allsec Technologies Limited. Alpha Water Technologies India Pvt. Ltd. Alpharithm Technologies Pvt Ltd. Altacit Global Amalgamations Private Limited. Ambalsoft Infotech Private Limited Ambattur Clothing Private Limited. Amec Foster Wheeler India Pvt. Ltd. Amman Try Sponge & Power (P) Ltd. Amrutanjan Health Care Limited Anand and Anand Anand Automotive Pvt. Limited Anand, Samy & Dhruva Andritz Technologies Pvt. Ltd. Anjappar Chettinad A/C Restaurant Antares Weighing Apex Laboratories Private Limited. Aqua Designs India Private Limited Aquatherm Engineering Consultants (India) Pvt. Ltd. Argus Partners Arjun Chemicals Pvt. Limited. Arkema Peroxides India Private Limited. Armstrong International Pvt Ltd
86
ANNUAL REPORT 2016-17
ASA & Associates LLP Ashok Leyland Limited Ashok Leyland Nissan Vehicles Limited Aspiration Energy Private Limited Aspire Systems (India) Pvt. Ltd. Astra Innovations Pvt. Ltd. Atiksys Technology LLP Audex Solutions and Technology Pvt. Ltd. Aumund Engineering Pvt. Ltd. AVA Cholayil Health Care Private Limited Avalon Consulting Avant Garde Systems and Controls Pvt. Ltd. Avant-Garde Engineers and Consultants (P) Ltd Axles India Ayan Tech Solutions Pvt. Ltd. B B&G Infrastructure Co. Pvt. Ltd. B Ravi & Associates Basco India Bashgo Maintenance Services Pvt. Ltd. Beardsell Limited. Besmak Components Pvt. Ltd. Beva Silicones Private Limited. Beyontec 2nable Solutions Pvt. Ltd. BGR Energy Systems Limited. Bhaha Engineering Service Bharat Petroleum Corporation Limited. Bharti Airtel Limited. Bilfinger Neo Structo Pvt. Limited Blackstone Group Technologies Pvt. Ltd. BMR & Associates LLP BNP Paribas Brakes India Private Limited Britannia Industries Limited Broekman Logistics India Pvt. Ltd. BS & B Technologies (P) Ltd. BSD & Associates BSR & Co. LLP Buildcraft Interior Pvt. Ltd. C CADD Centre Training Services Pvt. Ltd. CPC Diagnostics Pvt. Ltd Calibre Lubricon Pvt. Ltd. Cameo Corporate Services Limited Caplin Point Laboratories Ltd. Capricorn Food Products India Limited. Caravel Logistics Pvt. Ltd.
Cargotec India Pvt. Ltd Carvalho Associates LLP Castrol India Limited Cauvery Power Generation Pvt Ltd. CavinKare Private Limited CBRE South Asia Pvt. Ltd. Ceego Labs Pvt. Ltd. Chain-Sys India Pvt. Ltd. Chakiat Agencies Pvt. Ltd. Chemplast Sanmar Limited Chennai Petroleum Corporation Limited Chettinad Cement Corporation Limited Chevron Petroleum India Pvt. Ltd. Chidambaram Shipcare Pvt. Ltd. Cholayil Pvt. Ltd. CIG Asia Business Services Pvt. Ltd. CIG Softech India Pvt. Ltd. City Union Bank Limited Codina Metalic Pvt. Ltd. Cogent Innovations Pvt. Ltd. Cognizant Technology Solutions India Pvt. Ltd. Computer Age Management Services Pvt. Ltd CSC Technologies India Pvt Ltd Conscientia Consultancy Pvt. Ltd. Contemporary News Private Limited Corporate Consulting Group Corporation Bank CSB Services Asia Pacific Pvt. Ltd. CSS Corp Ltd. Cyril Amarchand Mangaldas D Daimler India Commercial Vehicles Private Limited Damodar Trade Links Pvt Ltd. Darts India Private Ltd. Datif Map Solutions Detect Technologies Pvt. Ltd. Deloitte Haskins & Sells Delphi –TVS Diesel Systems Ltd. Dharmic Solutions Pvt. Ltd. Dharsan Dredging & Construction DHL Express (India) Pvt. Ltd. Diana Shutters Pvt. Ltd. DORMA India Private Ltd. Durr India (P) Ltd. Dynamic Netsoft Technologies Pvt. Ltd. Dyrocon Airtech Pvt. Ltd.
E E Novas Control & Automation LLP Easun - MR Tap Changers (P) Ltd. Easun Reyrolle Limited Easy Solutions EBMS Solutions Pvt. Ltd. Economic Laws Practice Einstro Technical Services Pvt. Ltd Emrald Resilient Tyre Manufacturers Pvt. Ltd. Engenius Erectors Pvt. Ltd. Enmas Andritz Private Limited. Enmas O & M Services Pvt. Ltd. Entvent Tools & Services Ernst & Young LLP ESAB India Limited ETA Engineering Private Limited ETA Star Property Developers Limited Ethical Intelligent Technologies LLP Eurocon Tiles European Flavours & Fragrances Pvt. Ltd. Eveready Industries India Limited Everest Industries Limited Excel Automation Solutions Excel Optics (P) Ltd. Express Infrastructure Pvt. Ltd. F Far N Par India Pvt. Ltd. Farida Leather Company Farm Implements (I) Pvt. Ltd. Federal Bank Fichtner Consulting Engineers India Pvt.Ltd. Fiducial Insurance Brokers India Pvt. Ltd. Fincare International First Engineering Plastics India Pvt. Ltd. Floking Pipes Pvt. Ltd. FLSmidth Private Limited Fluidtherm Technology (P) Ltd. Forbes & Company Limited Ford India Private Limited Fore Brain Technologies Pvt. Ltd. Foress Impex Pvt. Ltd. Fox Mandal & Associates Frendi Fashions Pvt. Ltd. Futurenet Technologies India Pvt. Ltd. G G M Pens International Pvt. Limited G E T&D India Ltd. ANNUAL REPORT 2016-17
87
G Natesan & Co., Galipoglu Hidromas India Mfg. Pvt. Ltd. Gates Unitta India Company Pvt. Ltd. GBA Consulting (P) Ltd. GE Energy Power Conversion Technology Pvt. Ltd. G G Organics Exports Pvt. Ltd. Gemini Fertilizers Gemini Iron and Steel Pvt. Ltd. Gemini Sea Air Freight Services Gencor Pacific Organics India (P) Ltd. Globelink WW India Private Ltd. Globeliz Travel Services Pvt. Ltd. GMV Engineering Pvt Ltd. Good Care Enviro System Pvt. Ltd. Gopi Kumar Associates Greaves Cotton Limited.( Ranipet) Greta Investments Pvt. Ltd. Greycat Tyres Pvt. Ltd Group Fio India Pvt. Ltd. Grundfos Pumps India Pvt. Ltd. GSV Associates Guardian Anti Corrosives (P) Ltd. H H K International HP Valves and Fittings India Pvt. Ltd. Hanon Automotive Systems India Pvt.Ltd. Haribhakti & Co LLP Hariharan Foundations Pvt. Ltd Hauer Associates Hermes I Tickets Pvt. Ltd. Hindalco Industries Limited Hinduja Foundries Limited Hindustan Unilever Limited Hitra Energy Solutions Pvt. Ltd. HLL Biotech Ltd. Housing Development Finance Corporation Limited Husqvarna (India) Products Pvt Ltd. HVK Systems and Marketing Pvt. Ltd. Hyundai Motor India Limited. I Iacharya Silicon Limited. ICRA Management Consulting Services Limited IDBI Bank Limited IL&FS Cluster Development Initiative Limited ImageGrafix Engg. Services Pvt. Ltd. iNautix Technologies India Private Ltd. India Cements Capital Limited
88
ANNUAL REPORT 2016-17
India Pistons Limited Indian Additives Limited Indian Bank Indian Oil Corporation Limited Indian Overseas Bank Indian Potash Limited Info-Drive Analytics Pvt. Ltd. Information Dynamics India Pvt. Ltd. Integrated Foods & Consumer Products (India) Pvt. Ltd. Intellect Design Arena Ltd. International Clearing & Shipping Agency India Pvt. Ltd. International Flavours & Fragrances India Pvt. Ltd. International Services IP Rings Limited ITC Limited J J Cynergy Global J Sagar Associates JEF Techno Solutions Pvt. Ltd. Johnson & Johnson Pvt. Limited. Johnson Lifts Pvt. Ltd. Jones Lang Lasalle Property Cons. (India) Pvt. Ltd Jumbo Bag Limited. K K Gaurav Kumar & Associates K Steamship Agencies Pvt. Ltd. K Vaitheeswaran & Co. K.I (International) Limited Kalco Agro Products Pvt. Ltd. Kaleesuwari Refinery Private Limited Kannan Fibre Industries Karnataka Bank Limited Kasturi & Sons Limited KCP Sugar & Industries Corporation Limited Keld Ellentoft (I) Pvt. Ltd. Kellogg Brown & Root Engineering Construction India Pvt. Ltd. Kemin Industries South Asia Private Limited Kerns Aeroproducts Pvt. Ltd. Kilburn Electricals Limited Kiran Global Chems Limited Knowledge Capital Investment Group Kochhar & Co Kone Elevator India Pvt. Ltd. Kothari Safe Deposits Limited
Krebs Engineering Pvt. Ltd. Kriate HR Consultants Pvt. Ltd. Krishnan & Natarajan Kriti Kare India Pvt. Ltd. Kriya Travel Logistics Private Limited Kriyaa Consultants and Engineers Pvt. Ltd. Kumar & Raj Kumar & Velayudham L L & T Valves LA Freight lift Pvt. Ltd. Lakshmikumaran & Sridharan Lakshmi Machine Works Limited Larsen & Toubro Construction Lee & Muirhead Pvt. Ltd. Leitwind Shriram Mfg. Limited. LNV Technology Private Ltd. Logic Information Systems India Pvt. Ltd. Logictree Capital Advisors Pvt. Ltd. Logitrans Technology Pvt. Ltd. Lovelock & Lewes Lucas Indian Service Limited Lucas TVS Limited M M K Raju Consultants Private Limited Mackmorn Vanijya Pvt. Ltd Macmillan Publishers India Limited Madras Auto Service Madras Consultancy Group Magtaan Travels & Holidays Pvt. Ltd. Mahindra World City Developers Limited Management & Governance Consulting Pvt. Ltd. Mark Softech Private Limited Market Simplified India Limited Marwa Impex Pvt. Ltd. Maveric Systems Limited MB Metallic Bellows Pvt. Ltd. Mecaplast India Pvt. Ltd. Medopharm Metallic Bellows (I) Pvt. Ltd. Metronic Engineering Pvt. Ltd. Mitsubushi Elevator India Pvt Ltd. Monarch Scientific Works MRF Limited. MSM Prosystec MTL Instruments Pvt. Ltd. MZSK & Associates
N N C Rajagopal & Co. N Venkataraman & Associates Nabisha Leathers Nanchil Infrastructure Pvt. Ltd. NAV Indus Food Machine Pvt. Ltd. NBC Weldmesh Pvt. Ltd. Neophyll Agrisciences Pvt. Ltd. Neptune Financial Software Pvt. Ltd. Nevera Infratech Pvt.Ltd. NFA Life Secure Pvt. Ltd. nice Neotech Medical Systems Pvt. Ltd. Nile Marine Services Nippon Paint (India) Pvt. Ltd. Nist Institute Pvt. Ltd. NPS Technology & Engineering Services Pvt. Ltd. NTC Logistics India Pvt.Ltd. Nubiola India (P) Ltd. Nutra Specialities Pvt. Ltd O Object Frontier Software Pvt. Ltd. Oceanic Edibles International Limited Ocrim International Technologies Pvt. Ltd. Ojus Power and Technologies Pvt. Ltd. Olam Information Services Private Ltd. Omnex India Pvt. Ltd. Open Source Webcare (P) Ltd. Operational Energy Group India Ltd. Orchid Pharma Ltd. Oren Hydrocarbons Pvt. Ltd. Orient Green Power Co. Ltd. Oriental Hotels Limited. Oriental Hydraulics Pvt. Ltd. Oriental Solutions Pvt. Ltd. Origin ITFS Private Limited P P K Power Appliances Private Ltd. P E Aristi Projects and Engineering Pvt. Ltd. P S Associates Paragon Polymer Products (P) Ltd. Paramount Shipping Services Pvt. Ltd. Parry Agro Industries Limited. Patel Mohan Ramesh & Co. Paterson Consulting Group Pvt. Ltd. Pavo Power Engineering Pvt. Ltd. Peirce Leslie India Limited. Pentland India Trading Pvt. Ltd. ANNUAL REPORT 2016-17
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Petrofac Engineering Services India Pvt. Ltd. Petronash Engineering Services Pvt. Ltd. Philips Electronics India Limited Pioneer One Consulting LLP Piramal Enterprises Limited PKF Sridhar & Santhanam PL Worldways Limited Polaris Consulting & Services Ltd. Portman India Private Limited PPM Associates Prakash Foods & Feed Mills Private Ltd. Praxair India Pvt. Ltd. Precia Molen India Limited Precision Equipments (Chennai) Pvt. Ltd. Price Waterhouse Cooper Pvt. Ltd. Prince Gold & Diamonds India Pvt. Ltd. Print Plus Priyam Industries & Engineering Pvt. Ltd. Proactive Solutech (India) Pvt. Ltd. Protech Consultants Pvt. Ltd. Protechsoft Systems Pvt. Ltd. Protechsoft Technologies Pvt. Ltd. Protection Engineering and Research Laboratories Prou India Engineering Private Limited PSL Limited. Q QH Talbros Ltd R R K Swamy BBDO Private Ltd. R Subramanian & Co. R Sundararaman & Co. Radisson Radiators Raj Petro Specialities Pvt. Ltd. Rajshree Biosolutions LLP Ram E&I Systems Pvt. Ltd. Ramesh and Ramachandran Rane (Madras) Limited. Rane Brake Lining Limited. Rane Engine Valve Limited. Rane TRW Steering Systems Limited. Raqmiyat Information Technology Pvt. Ltd. Raunaq Steels Trading Private Limited Redington (India) Limited Regal Interiors Private Limited Repute Infotech and Enterprises Limited. REV Consulting Reva Phoenix Engineers & Consultants India Pvt.
90
ANNUAL REPORT 2016-17
Ltd. Revathi Equipment Limited RGN Price & Co. Rotork Controls India Private Ltd. Royal Sundaram Alliance Insurance Co. Ltd. RR Donnelley India Outsource Pvt. Ltd. RRB Energy Limited. Ruby Mahoharan Property Developers Pvt. Ltd. RVK & Co. Ryan Logitech Pvt. Ltd. S S Natesa Iyer & Co. S Venkatraman & Co. Saint-Gobain India Private Limited. Saipem India Project Private Limited Same Deutz Fahr India Pvt. Ltd. Samsung India Electronics Pvt. Ltd. Samvad Partners San Media India Limited Sanco Trans Limited. Sapcle Technologies Pvt. Ltd. SAS Partners Corporate Advisors Pvt. Ltd. Sattva Logistics Pvt. Ltd. SB SB and Associates Schneider Electric Infrastructure Limited Schneider Electric Systems Pvt. Ltd. Schwing Stetter (India) Pvt. Ltd. Scope International Private Ltd. Semanoor Software Solutions (P) Ltd. Semanoor Technologies (P) Ltd. Sengu and Paapu Associates Sensiple Software Solutions Pvt Ltd. Shardlow India Limited Shardul Amarachand Mangaldas & Co. Sheng Long Biotech India Pvt. Ltd. Shiloh Industries Pvt. Ltd. Shilpa Stainless Pvt. Ltd. Shri Govindaraja Textiles Pvt. Ltd. Shri Kailash Logistics Ltd. Shriram EPC Limited Shriram Transport Finance Co. Limited Simpson & Co. Limited Skanda IT Consulting Pvt. Ltd. Skylift Cargo (P) Limited SNC Associates Sofgen India Pvt. Ltd. Softeon India Pvt. Ltd.
Solverminds Solutions & Technologies Pvt. Ltd. Spark Capital Advisors (I) Pvt. Ltd. SPI Cinemas Pvt. Ltd. Spudweb Technologies Pvt Ltd. Sri & Sri Associates Sri City (P) Limited Sri Krishna Sweets Srinivasan & Shankar Stahl India Pvt. Ltd. Standard Chartered Bank Standyne India Pvt. Ltd. State Bank of India Steinbach & Partner Executive Consultants India Pvt. Ltd. Stonecolour Exim Private Limited Stud India Subbaraya Aiyar Padmanabhan & Ramamani, Advocates Sudit K Parekh & Co. Sundaram & Srinivasan Sundaram Asset Management Co. Limited Sundaram BNP Paribas Home Finance Limited Sundaram Clayton Limited Sundaram Finance Limited Sundram Fasteners Limited Super Auto Forge Private Limited Supreme Petrochem Limited Surana & Surana International Attorneys S V Global Mill Limited Swiss Garnier Life Sciences Switzer Process Instruments Private Ltd. Symbiotic Infotech Pvt. Ltd. Symrise Pvt. Ltd. T T A Taylor Pvt. Ltd. T S Gopalan & Co. T V Sundram Iyengar & Sons Limited. T&B International Pvt. Ltd. TAFE Access Limited. TANFAC Industries Limited Tebma Shipyards Limited Technology Associates Temenos India Private Limited Tenova India Private Ltd The Hongkong & Shanghai Banking Corporate Ltd. The India Cements Limited The Karur Vysya Bank Limited The Lakshmi Vilas Bank Limited
The Ramco Cements Limited Thejo Engineering Limited Thomson Press (India) Limited Thyssenkrupp Industries India Pvt. Limited Tianjin Tianshi India Pvt. Ltd. Tidal Wave Infotech Private Ltd. Tide Water Oil Co. (I) Limited Tirupati Tradewing Pvt. Ltd. Tirwin Management Service Pvt. Ltd. Titanium Equipment and Anode Mfg Co. Limited ToCheungLee Stationery Mfg. Co. Ltd. Tonglit Autogistic Pvt. Ltd. Toshiba Machine (Chennai) Pvt. Ltd Tractors & Farm Equipment Limited Transcend India Impex Translink Logistics Pvt. Ltd. TransSys Solutions Pvt. Ltd. Treeline Business Solutions Private Limited Treyaa Newtech Limited Trivitron Healthcare Private Ltd. TTK Protective Devices Limited Turbo Energy Limited TVS Logistics Services Limited TVS Motor Company Limited U Ucal Auto Private Limited Ultra Tile Private Limited Ultratech Cement Limited Uniphore Software Systems Pvt. Ltd. United India Insurance Company Limited (Regional Office) United India Insurance Company Limited Unity Forge Private Limited U Too Cabs Limited V V Ramachandran, Advocates V V Titanium Pigments Pvt. Ltd. VA Tech Wabag Limited. Vadim Infrastructure Pvt Ltd. Vaishnavi Freight Logistics (P) Ltd. Valeth Hightech Composites (P) Ltd. Valiant Technologies Pvt. Ltd. Valmet Chennai Pvt. Ltd. Vanilla Holdings & Investments Pvt. Ltd. Ventura Technologies Network Pvt. Ltd. Ventureast Fund Advisors India Victor Grace & Co. ANNUAL REPORT 2016-17
91
Victoria Technical Institute Viking Shipping (Chennai) Pvt. Ltd. Virgo Polymers (I) Limited Vistasoft India Pvt. Ltd. Vivid Edge Software Solutions Pvt. Ltd. Voicesnap Services Pvt. Ltd. Voltas Limited Vyosoft Solutions Pvt. Ltd. W WABCO India Limited Walker, Chandiok & Co. Waves Telecom Pvt Ltd. Wavin India Limited WE 45 Solutions Pvt. Ltd. Weiss Rohlig India Pvt. Ltd. Wheels India Limited William Hare (India) Pvt. Ltd. Winmeen Engineers Pvt. Ltd. Winsar Infosoft Pvt. Ltd. Wolters Kluwer ELM Solutions Pvt Ltd. X XS Real Properties Private Limited Y Yazaki India Pvt. Ltd Yalee Inc Yes Bank Ltd. Z Zamil Steel Engineering India Pvt. Ltd. Zeal Direct & Reinsurance Broking Services Pvt. Ltd. AFFILIATED MEMBERS Ambattur Industr ial Estate Manufacturers Association Army Welfare Placement Node ASSIST Association of Multimodal Transport Operators of India British Business Group Chennai Trust Central Associations of Private Security Industry Crescent Business School Dharmamurthi Rao Bahadur Calavala Cunnan Chetty’s Hindu College Energy and Fuel Users’ Association of India Golden Jubilee Biotech Park for Women Society Great Lakes Institute of Management Industrial Waste Management Association
92
ANNUAL REPORT 2016-17
Institute for Financial Management and Research Japanese Chamber of Commerce & Industry, Chennai KCG College of Technology Logistics Sector Skill Council L oyo l a - IC A M C o l l e g e o f E n g i n e e r i n g a n d Technology Loyola Institute of Business Administration Ministry of Foreign Affairs Denmark MOP Vaishnav College for Women Nani Palkhiavala Arbitration Centre R M K Engineering College Renewable Energy Harvesting Environment Network Association Saveetha Engineering College Seawaves Institute of Logistics Sr i C handrasekharendra Saraswathi Viswa Mahavidyalaya Sri Kanyaka Parameswari Arts & Science College For Women SRM University St. Joseph’s College of Engineering St. Joseph’s Institute of Technology T Stanes & Co. Ltd. The All India Chamber of Match Industries The Cocanada Chamber of Commerce The K arur Textile Manufacturers Exporters Association The Madras Electric Trades Association The Madras Piecegoods’ Merchants Association The Malabar Chamber of Commerce The Netherlands Business Support Office The Planters’ Association of Tamil Nadu The South India Sugar Mills’ Association The United Nilgiri Tea Estates Co. Ltd. The United Planters’ Association of Southern India Tuticorin Chamber of Commerce & Industry VIT University, Chennai VIT University, Vellore Women’s Christian College Honorary Members The Chief Post Master General, Tamil Nadu General Manager, Southern Railway Chief General Manager, Chennai Telephones Chairman, Port Trust Chief Commissioner of Customs, Chennai Mr. C S Krishnaswami, Chennai
PAST CHAIRMEN / PRESIDENTS (From the year 1996 the designation of Chairman was changed to President)
1868
1836 1837
1869
1838 1839 1840 1841 1842 1843 1844 1845 1846 1847 1848 1849 1850 1851 1852 1853 1854 1855 1856 1857 1858 1859-60 1861 1862 1863 1864 1865 1866-67
Mr John Alves Arbuthnot Mr John Alves Arbuthnot Mr John Williams Dare Mr John Williams Dare Mr William Scott Binny Mr William Scott Binny Mr John Line Mr John Line Mr James Scott Mr James Scott Mr James Scott Mr John Utley Ellis Mr John Utley Ellis Mr J Ouchterlony Mr J Ouchterlony Mr J Ouchterlony Mr James Thomson Mr James Thomson Mr John Binny Key Mr John Binny Key Mr George Arbuthnot Mr George Arbuthnot Mr Henry Nelson Mr William Mc Taggart Mr William Urquhart Arbuthnot Mr J Ouchterlony Mr Joseph Goolden Mr James Scott Mr J Ouchterlony Mr James Scott Mr Robert Orr Campbell Mr Robert Orr Campbell Mr J Ouchterlony Mr John Binny Key Mr William Hamilton Crake Mr John Vans Agnew Mr Henry Nelson Mr Alfred John Byard Mr William Reirson Arbuthnot Mr William Reirson Arbuthnot Mr Robert Orr Campbell Mr William Hamilton Crake Mr Alfred John Byard Mr Henry Tolputt Mr Henry Tolputt Mr John Young Mr Alexander Forrester Brown
1870-71 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881-82 1883-84 1885 1886 1887 1888 1889-90 1891-92 1893-94 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1910-11 1912 1913
Mr Alexander Forrester Brown Mr William Reirson Arbuthnot Mr Alfred John Byard Mr John Charles Loch Mr Patrick Macfadyen Mr Robert Chillingworth Walker Mr Alexander Forrester Brown Mr Patrick Macfadyen Mr Clement Simpson Mr Patrick Macfadyen Mr Patrick Macfadyen Mr John Jones Mr Alexander Mackenzie Mr Alexander Mackenzie Mr Patrick Macfadyen Mr Clement Simpson Mr James Charles Shaw Mr John Alexander Boyson Mr George Gough Arbuthnot Mr S R Tumbull Mr S R Tumbull Mr D Rasbotham Mr J A Boyson Mr S R Tumbull Mr J A Boyson Mr G G Arbuthnot Mr G L Chambers Mr G L Chambers Mr G G Arbuthnot Mr G G Arbuthnot Mr S R Tumbull Mr S R Tumbull Mr E P Vans Agnew Mr G G Arbuthnot Sir George Arbuthnot Mr A J Yorke Mr A J Yorke Sir George Arbuthnot Mr H Scott Sir George Arbuthnot Mr A J Yorke Mr A J Yorke Mr V G Lynn Mr V G Lynn Mr Hugh Fraser Mr A D Jackson Mr A D Jackson Mr W B Hunter ANNUAL REPORT 2016-17
93
1914 1915-17 1918-19 1920-21 1922 1923 1924-25 1926-27 1928 1929-30 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941-43 1944 1945-46 1947 1948 1949 1950 1951 1952-53 1954 1955 1956 1957 1958 1959 1960 1961 1962
94
Mr A D Jackson Sir Hugh Fraser Mr Gordon Fraser Mr C E Wood Mr Gordon Fraser Mr C E Wood Mr James Simson Sir James Simson Mr W Alexander Sir Gordon Fraser Mr C E Wood Mr T M Ross Mr C E Wood Mr K Kay Mr H F P Hearson Mr F Birley Mr K Kay Mr W M Browning Mr W M Browning Sir William Wright, O.B.E Mr F Birley Mr G A Bambridge Mr D M Reid, O.B.E Sir Gerald Hodgson Sir Robert Denniston Mr J Nuttal Mr C Elphinston Mr H S Town Mr W T Williams Mr H I Wonfor, C.B.E. Mr B W Batchelor Mr H I Wonfor, C.B.E. Mr H S Macqueen Mr H I Wonfor, C.B.E. Mr R E Castell, C.B.E. Mr T Rogers Mr J R Galloway Mr G N Noel – Tod, C.B.E. Mr E J M Leigh Mr P Hadfield Mr E F G Hunter Mr R M King Mr B B Dod
ANNUAL REPORT 2016-17
1963 1964 1965
1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977-78 1979-80 1981-82 1983-84 1985-86 1987 1988 1989-91 1991-93 1993-94 1994-96 1996-98 1998-99 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2010 2010-2012 2012-2014 2014- 2016
Mr M J Edwards, O.B.E Mr D M Law Mr A M Murugappa Chettiar (till 31st October 1965) Mr A W Stansfeld Mr A W Stansfeld Mr John K John Mr E W D Jeffares, M.C Mr A M M Arunachalam Mr M E Bourcier Mr C P Featherstone Mr N S Bhat Mr A K Sivaramakrishnan Mr M M Muthiah Mr P D Whiteley Mr C D Gopinath Mr J K Clubwala Mr A Sivasailam Mr M K Kumar Mr K V Sitaram Mr N Sankar Mr M V Murugappan Mr Hari Eswaran Mr V Chidambaram Mr N Venkataramani Mr N Srinivasan (F&R) Mr L Lakshman Mr N Srinivasan (ICL) Ms Mallika Srinivasan Mr G K Raman Mr L Sabaretnam Mr N Ramachandran Mr K V Sheety Mr B Natraj Mr Murali Venkatraman Mr V Balaraman Mr A Sankarakrishnan Mr Arun Bewoor Mr Srinivasan K Swamy Mr T T Srinivasaraghavan Mr T Shivaraman Mr S G Prabhakharan
R.G.N. PRICE & CO.
Chartered Accountants Phone: Telefax: E-mail: Offices at:
28413633 & 28583494 28544569 price@vsnl.com Mumbai, Ernakulam, Quilon, Calicut, Bangalore and New Delhi
Ref. No.:
Simpson’s Buildings Post Box No.335 861, Anna Salai Chennai 600 002
10th June 2017
To the Members of The Madras Chamber of Commerce and Industry We have audited the accompanying financial statements of The Madras Chamber of Commerce and Industry (the Chamber) which comprise the Balance Sheet as at March 31, 2017, and the Income and Expenditure Account for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements The Chamber is responsible for the preparation of these financial statements that give a true and fair view of the financial position.This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Chamber’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the Chamber’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion In our opinion and to the best of our information and according to the explanations given to us, we report that: i.
We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.
ANNUAL REPORT 2016-17
95
ii. In our opinion, proper books of account as required by law have been kept by the Chamber, so far as appears from our examination of those books. iii. The Balance Sheet and Income and Expenditure Account dealt with by this report are in agreement with the books of account. iv. In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Tamil Nadu Societies Registration Act, 1975, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India. a) In the case of Balance Sheet, of the state of affairs of the Chamber as at March 31, 2017, and b) In the case of Income and Expenditure Account, of the excess of income over expenditure for the year ended on that date;
For R.G.N. PRICE & CO Chartered Accountants Sd/ S. Subramanian Partner M. No. 16252 FR No. 002785S
96
ANNUAL REPORT 2016-17
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
BALANCE SHEET AS AT MARCH 31, 2017 Schedule
As at March 31, 2017 Rs
As at March 31, 2016 Rs
SOURCE OF FUNDS General Fund
1
Total
74257327
68264917
74257327
68264917
APPLICATION OF FUNDS Fixed Assets
2
Gross Block
32118122
32108622
Less : Depreciation
12247165
12015525
Net Block Investments
3
19870957
20093097
51741220
46743147
Current Assets, Loans and Advances Sundry Debtors
4
564508
104503
Cash and Bank balances
5
1195990
994207
Other Current Assets
6
4018049
3470677
Loans and Advances
7
495732
730653
6274279
5300040
3629129
3871367
Less : Current Liabilities and Provisions Liabilities
8
Net Current Assets Total Notes on accounts
2645150
1428673
74257327
68264917
12
The schedules referred to above form an integral part of the Balance Sheet President
Chennai 10th June 2017
Vice President
Secretary General
This is the Balance Sheet referred to in our report of even date For R.G.N. PRICE & CO. Chartered Accountants Sd/S. Subramanian Partner M.No. 16252 FR No. 002785S ANNUAL REPORT 2016-17
97
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2017 Schedule
Year ended March 31, 2017 Rs
Year ended March 31, 2016 Rs
INCOME Subscription
7409000
7450500
Entrance Fee
393500
288500
2508801
2121282
12779984
12002095
23091285
21862377
Seminar Income Other Income
9
EXPENDITURE Employee Costs
10
9074421
8766674
Other Expenses
11
7792814
6335238
231640
267709
17098875
15369621
Excess of Income over Expenditure for the year
5992410
6492756
Transfer to General Fund
5992410
6492756
Depreciation
Notes on accounts
12
The schedules referred to above form an integral part of the Income and Expenditure account President
Vice President
Chennai 10th June 2017
98
ANNUAL REPORT 2016-17
Secretary General
This is the Income & Expenditure Account referred to in our report of even date For R.G.N. PRICE & CO. Chartered Accountants Sd/S. Subramanian Partner M.No. 16252 FR No. 002785S
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
SCHEDULES FORMING PART OF ACCOUNTS
SCHEDULE 1 GENERAL FUND
As per last Balance Sheet Add
Surplus from Income & Expenditure account transferred
As at March 31, 2017
As at March 31, 2016 Rs Rs
68264917
61772161
5992410
6492756
74257327
68264917
ANNUAL REPORT 2016-17
99
100
ANNUAL REPORT 2016-17
Furniture and Fixtures Office equipment Computers Vehicles
Land & Development Freehold Buildings Electrical Installations
Decsription
FIXED ASSETS
SCHEDULE 2
2306158
2296658 2526888 473578 467214 861767 32118122
2526888
473578 467214 861767 32108622 9500
5761727
5761727 9500
19720790
Cost as at 31.3.2017
19720790
Cost as at 01.04.2016
Gross Block Additions Deletions
434225 462066 861765 12015525
2237624
2258119
5761726
Upto 31.3.2016
17110 5056 0 231640
187500
21974
Depreciation For the Deletions Year
SCHEDULES FORMING PART OF ACCOUNTS
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
451335 467122 861765 12247165
2425124
2280093
5761726
Upto 31.3.2017
22243 92 2 19870957
101764
26065
1
19720790
39353 5148 2 20093097
289264
38539
1
19720790
Net Block As at As at 31.3.2017 31.3.2016
(Figures in Rupees)
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
SCHEDULES FORMING PART OF ACCOUNTS
SCHEDULE 3
As at March 31, 2017 Rs
As at March 31, 2016 Rs
Investments Fixed Deposits with Sundaram BNP Paribas Home Finance Ltd Term Deposit held with Banks
SCHEDULE 4
5000000
5000000
46741220
41743147
51741220
46743147
SUNDRY DEBTORS (Unsecured- Considered Good) Debts Outstanding for a period exceeding six months Other Debts
10500 564508
94003
564508
104503
5724
4177
1190266
990030
1195990
994207
Interest accrued on Investments
1005367
850835
Tax deducted at source
2134942
1872830
877740
747012
4018049
3470677
Deposits
315309
387309
Prepaid expenses
144967
168044
35456
175300
495732
730653
1845297
2203374
463832
347993
1320000
1320000
3629129
3871367
SCHEDULE 5 CASH AND BANK BALANCES Cash on hand Balance with Scheduled Banks on Current Account
SCHEDULE 6 OTHER CURRENT ASSETS (Unsecured- Considered Good)
Advance Tax
SCHEDULE 7 LOANS AND ADVANCES (Unsecured- Considered Good)
Advance
SCHEDULE 8 LIABILITIES Sundry Creditors Subscription, Advertisement & Seminar Fees received in advance Rent Deposit
ANNUAL REPORT 2016-17
101
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
SCHEDULES FORMING PART OF ACCOUNTS Year ended March 31, 2017 Rs
Year ended March 31, 2016 Rs
SCHEDULE 9 OTHER INCOME Interest
4157451
4069588
Rent
2795100
2662000
Fees for Certificate of Origin
4419671
4383471
74000
77500
1333762
809536
12779984
12002095
7954387
7774248
Contribution to Provident & other funds
879759
710286
Staff Welfare
240275
282140
9074421
8766674
304750
306500
Expenses on seminars and conferences
2050568
1305934
Meeting expenses
1742437
1608812
Printing & Stationery
550825
587044
Electricity Charges
318677
271124
Telephone Charges
126244
135453
Travel Expenses
45752
68936
Rates and Taxes
371056
356710
Repairs and Maintenance
691352
738646
Postage and courier
105686
108601
99106
72308
Audit Fee
57500
40075
Other services
70150
28500
515
1315
--
431000
192000
192000
1000000
--
66196
82280
7792814
6335238
Advertisement Income Miscellaneous Income
SCHEDULE 10 EMPLOYEE COSTS Establishment cost
SCHEDULE 11 OTHER EXPENSES Subscription to Associations
Insurance Payment to Auditors
Reimbursement of Expenses Legal & Professional Fees Rent Contribution to EFSI Corpus Fund Miscellaneous Expenses
102
ANNUAL REPORT 2016-17
THE MADRAS CHAMBER OF COMMERCE & INDUSTRY
SCHEDULES FORMING PART OF ACCOUNTS SCHEDULE 12 Notes on Accounts 1.SIGNIFICANT ACCOUNTING POLICIES : Accounting Convention : The financial statements are prepared under historical cost convention. Revenue Recognition : Accrual basis of accounting is followed except for subscription income, which is accounted on receipt basis due to practical reasons. Fixed Assets : Fixed assets are stated at cost. Cost includes acquisition and installation expenses. Depreciation : Depreciation is provided on straight line method on the basis of the estimated useful lives as determined by the Chamber. In respect of additions and deletions, depreciation is restricted to the period of use. The rates of depreciation are as under. Building Electrical Installations Furniture & Fixtures Office Equipment Computers Vehicles
10% 25% 25% 25% 33% 25%
Investments : Investments are stated at cost. Retirement benefits : Liability towards gratuity and superannuation are determined in accordance with the schemes formulated by the Chamber and contribution is made to the respective funds administered by the Life Insurance Corporation of India as per the rules of the aforesaid scheme. All contributions are charged to revenue when due. With regard to leave encashment, provision is made on the basis of encashment of leave up to a maximum of 180 days at the time of retirement or reaching the age of superannuation calculated at the last drawn salary rates as per Chamber policy. 2.
Notes
a. Income Tax: The Income Tax Appellate Tribunal Chennai has restored the registration of the Chamber under Section 12A of the Income-Tax Act 1961. Tax demands for the A.Y 2012-13 and 2014-15 aggregating to Rs. 27.19 lakhs are pending adjudication before Appellate authorities in respect of which the Chamber is legally advised that the demands are not sustainable. b. Expenditure of the Skill Development Centre amounting to Rs 2,31,958/- (Previous year Rs 2,94,936/-) has been allocated under the respective heads of accounts. c. Previous year’s figures have been regrouped/ reclassified wherever necessary to conform to the presentation of current year’s accounts.
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3rd Wrapper
104
ANNUAL REPORT 2016-17