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ANNUAL

REPORT 2019


five SIDCO and three benchmark estates) to determine the health of industrial estates in the state.In addition, the study came up with a focused list of recommendations to enhance the operational efficiency and productivity of existing occupants, while improving the attractiveness of these estates for further investments. The Chamber presented findings of the study to Mr.Muruganandam, Industries Secretary, Government of Tamil Nadu, and his team of Project Officers across dozens of these estates. The government was highly appreciative of the Chamber’s efforts and focus. The Chamber is now engaged with the state government in implementing key recommendations of the study.

Mr. Ramkumar Ramamoorthy Dear Members, It is a matter of great honour and pride for me to present the 183rd Annual Report of the Madras Chamber of Commerce and Industry (MCCI).This action-packed year was focused on the key tenets of the Chamber—driving policy changes with decision-makers in both the state and central governments to reduce barriers to commerce; networking and sharing of knowledge, trends and best practices among members; and curating events that directly impact our member companies. In the 182nd AGM, we had the privilege of having Mr. L Ganesh, Chairman, Rane Group, as our Chief Guest. His address on “A Case for Manufacturing”, drawing upon examples from the U.S. and China,was highly relevant in the context of revving up manufacturing growth through the “Make in India” programme as well accelerating job creation. Given that his organisation is an exemplar of doing well by doing good, it was befitting to have Mr. Ganesh present the CSR awards. At the Chamber Day celebrations following the AGM, we had the honour of having Mr.Banwarilal Purohit, Honourable Governor of Tamil Nadu, as the Chief Guest, and Mr. Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds, as a Special Guest.The Chamber announced plans to have 50 to 100 senior leaders from member companies on the Board of Studies, Academic Councils, Senates and Syndicates of Universities and educational institutions of higher learning and research in Tamil Nadu to shape the future of education and accelerate job creation in the state.I am happy to share that we have started well with the Honourable Governor himself nominating a member of the General Committee to the Senate of the Tamil Nadu Dr. MGR Medical University. Thanks to the unstinting efforts of Mr. Ram Venkataramani, the immediate Past President, the Chamber embarked on a study of industrial estates in the state. Supported by Avalon Consulting as our knowledge partner, the Chamber conducted a study of 17 industrial estates (nine SIPCOT,

The Chamber was privileged to play a key role in the Tamil Nadu Global Investors Meet 2019. The Tamil Nadu Government chose the Chamber to exclusively curate and manage a session on how to nurture and shape Chennai as “the Next-Generation Financial Hub” by marrying technology and talent at scale. The Chamber was fortunate to have Mr. S. Mahalingam, former CFO of Tata Consultancy Services, and Mr. T. T. Srinivasaraghavan, MD of Sundaram Finance, to guide this programme. We were also fortunate to have in attendance a galaxy of leaders from financial services and information technology companies in Chennai: Mr. Arun Jain, CMD, Intellect Design Arena Limited; Ms. Uma Ratnam Krishnan, CEO, Barclays Global Service Centre; Mr. P. R. Seshadri, MD and CEO, Karur Vysya Bank; Mr. Sunil Kumar, Centre Head, World Bank Group; Mr. Narayanan Ramaswamy, Partner, KPMG Advisory Services; Mr. K. Srinivasan, COO, Tamil Nadu Infrastructure Fund Management Corporation; and Mr. K.Ramakrishnan, Senior MD, Strategic Relationships, Spark Capital Advisors. In view of the session’s remarkable success and potential opportunity for Chennai to capitalize on technologyinfused, next-generation financial services, the Chamber is taking a lead role and actively working with state government officials from various departments such as Finance, Revenue, Industry, Information Technology, among others, to accelerate the implementation of ideas. The Chamber, as many of you are aware, has often been the first port of call for overseas delegations visiting India to promote trade relations between their countries or regions and Tamil Nadu. During the year, we interacted with diplomats,consular officials and delegates from a number of countries, including the Netherlands, Turkey, Latvia, Fiji, Malaysia, Thailand, and Lithuania, to name a few. These interactions, we hope, will pave the way for stronger bilateral trade relations with specific emphasis on Tamil Nadu. Further, the Chamber led a trade delegation, consisting of representatives from Manufacturing, Logistics, and Information Technology sectors, to Northern Ireland. Business councils from Northern Ireland have since been interacting with member companies to explore crossborder relations and further trade and commerce.With disruptive digital technologies—such as IoT, Artificial Intelligence, Augmented Reality, Blockchain and Sensors— permeating every industry, the Chamber organised

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Phygital 2018 (the amalgamation of Physical and Digital), graced by Dr. Santhosh Babu, Secretary, Information Technology, Government of Tamil Nadu, as the Chief Guest. With interesting use cases on Blockchain and Artificial Intelligence from diverse industries, the sessions drove cross-pollination of best practices among member companies. Our Legal Conclave with sessions focused on topics such as Competition Law, Data Protection Law, RERA and biodiversity, and a high-profile panel discussion on “Legal challenges faced by corporates” greatly befitted our members. Honourable Justice Mr. T. S. Sivagnanam of the Madras High Court was the Chief Guest. The feedback from the participants was to make this conclave an annual event. In our flagship “Sustainable Chennai Forum”, we continued to focus on energy, water, waste management, transportation and urban greening. We organised the second Urban Thinker’s Campus on “Roadmap to Zero Waste” in Chennai, which brought together more than 30 speakers and 200 participants representing end-users, solution providers, stakeholders, waste recyclers, retailers, and urban local bodies. Our Chief Guest for the valedictory session was Ms. Shantha Sheela Nair, former Chief Secretary to the Government of Tamil Nadu. We continue to liaise with government agencies and organisations that have pledged support in implementing the action plan to make Chennai a zero-waste city. This conference was followed up with a roundtable on Circular Economy that was focused on integrated waste management and drew upon the outcomes of the Urban Thinker’s Campus. Ours is a Chamber with a soul. This was manifest in our conference on social transformation that marked a milestone in driving corporate purpose and CSR. We had roundtable sessions where experts from Corporates and NGOs discussed learnings, opportunities and challenges in the implementation of projects in areas such as education and skilling, health, sanitation and hygiene, and diversity and inclusivity. The Chamber forayed into a new area by joining hands with Waterfalls Institute of Technology to organise a seminar on “Healthcare Today and Tomorrow: Creating Sustainable Medical Leadership”, which saw eminent speaker such as Padma Vibhushan Dr. V. Shanta, Chairperson, Cancer Institute (WIA), Chennai, and Padma Shri Dr. Sneh Bhargava, Former Director, AIIMS, New Delhi, address the audience, along with noted doctors from reputable hospitals. Our seminar on “Best Practices in Industrial Relations: Learnings from Manufacturing for the IT Industry”, jointly organised with NASSCOM, provided a great platform for cross-industry learning and sharing of best practices. The Chamber’s regular events, such as the Power Conference, Budget Workshop, Independent Directors Conference,Trade Meets, Sessions on AEO, Direct Tax Conference, as well as Seminars on GST, Data Protection, Companies Act, Corporate Governance, Prevention of

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Sexual Harassment, Employee Provident Fund were of immense value to our members. In line with our commitment to work closely with educational institutions, we organised a joint conference at Ethiraj College for Women, graced by Mr. Banwarilal Purohit, Honourable Governor of Tamil Nadu, as the Chief Guest. Going forward, active collaboration with educational institutions will be a key focus area for the Chamber as part of its ongoing efforts to help bridge the gap between the industry and academia. Through the year, we also organised many factory visits, including those to IP Rings Ltd. and Hanon Systems, to help our members learn best practices. The Chamber’s certification programme in human resources (HR), consisting of academic, practical and mock sessions, sharing of industry experiences, and case study presentations by experts, received a positive response from the participants. This was followed by a one-day conference on Futuristic Human Resources, where HR professionals from different organisations deliberated on a wide range of topics such as HR analytics, and staying relevant in the midst of automation and artificial intelligence. The Chief Guest for the valedictory session was Mr.K.Pandiyarajan, Minister for Tamil Culture and Archaeology, Government of Tamil Nadu, who has worked in the field of HR for several decades. Our specially curated programmes through the year included celebrating entrepreneurship with The British High Commission, a seminar on ocean wealth organised jointly with WITT, a joint conference with Yes Bank on scaling up business, a meeting with Paperman and the U.S. Consulate to find alternative solutions to the use of plastics, Solar Roofs Chennai Series, and a Commodity Conclave demonstrating our interest in addressing the diverse needs of members from diverse sectors. All these activities of the Chamber would not have been possible without the guidance, advice and able support of past presidents, General Committee, various Expert Committees, and a small but dynamic secretariat. Srivats Ram, Vice president of the Chamber, and I would like to take this opportunity to thank each one of them and extend our gratitude to all members of the Chamber. With the business landscape changing and the role of the Chamber getting reinvented, we have embarked on a major strategy and roadmap exercise called MCCI@200 to strengthen and sustain the relevance of the Chamber as we rapidly march towards its 200th birthday. We shall keep you updated on the developments in the months to come. Wishing you great success in all your endeavours!

Ramkumar Ramamoorthy President

MCCI


MISSION                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.

VALUES BELIEFS We Will function with sincerity, dedication and commitment Will provide the best quality service to our members 

 

  Will maintain a working atmosphere conducive to building trust and developing team work Will be alive to compete and constantly upgrade our services to be a leader Will act as a responsible law abiding Chamber and will make effective contribution to the society Will jointly work with members continuously for improving the quality of work life

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PRESIDENT

Mr. A. R. Subramanian

Mr. Ramkumar Ramamoorthy

Executive Director-Finance & Company Secretary Schwing Stetter India Pvt. Ltd.

Executive Director, India Cognizant Technology Solutions India Pvt.Ltd.

Mr. K. Suresh

VICE-PRESIDENT

Mr. K. Vaitheeswaran

Mr. Srivats Ram Managing Director Wheels India Limited

MEMBERS (Elected) Mr. N. S. Balachandra Datta

President & CEO, India Cements Capital Ltd. Advocate & Tax Consultant K.Vaitheeswaran & Co.,

Mr. Vijay Chordia Director, Stone Colour Exim Private Ltd.

Mr. P. Viswanathan   !"#   Sundaram Finance Ltd.

Vice President Corporate Affairs Hyundai Motor India Ltd.

EX-OFFICIO

Mrs. Bhavani Balasubramanian

Mr. Ram Venkataramani

Partner, Deloitte Haskins & Sells

Mr. Ishwar Achanta Managing Director Portman India Private Limited

Mr. P. Kaniappan Managing Director, Wabco India Ltd.

Mr. T.R. Kesavan

Managing Director, I P Rings Ltd.

MEMBERS (Co-opted) Ms. Gayathri Sriram Managing Director, Ucal Auto Pvt.Ltd.

Mr. Mathew Joseph

President & COO, TAFE Ltd.

Member of Executive Management Housing Development Finance Corporation Ltd.

Mr. J. Krishnan

Mr. R. Raghuttama Rao

Partner, S Natesa Iyer & Co.

Mr. V.M. Mohan Executive President - Corporate Finance The India Cements Ltd.

Mr. S. Padmanabhan

CEO., Gopalakrishnan Deshpande Centre for Innovation and Entrepreneurship (GDC)

Mr. P.V. Raju ED & CEO – Ford, Daimler & Isuzu Business Units Yazaki India Private Ltd.

Director, Sattva Logistics Pvt.Ltd.

Mr. V. Ranganathan

Mr. S. Parthasarathy

Senior Advisor, Ernst & Young Pvt. Ltd.

     

Mr. N. K. Ranganath

Mr. K. Ramakrishnan

Managing Director, Grundfos Pumps India Ltd.

Senior Managing Director – Strategic Relationships Spark Capital Advisors (India) Pvt.Ltd.

Dr. Sunder Ramaswamy

Mr. Ramkumar Shankar

Mr. Suresh Raman

Managing Director, Chemplast Sanmar Ltd.

Mr. S. Ravishankar Joint Managing Director Super Auto Forge Private Ltd.

Mr. P. Sridharan Executive Director Shriram Transport Finance Co.Ltd.

Vice Chancellor, KREA University VP & Head of Chennai Operations, Tata Consultancy Services

Mr. S. Varadarajan $

%'  *+/ 012! 

Mr. R. Vittal Raj Partner, Kumar & Raj

Mr. Vijay Srinivasan Director, T A Taylor Pvt.Ltd.

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SPECIAL INVITEES (Past Presidents) Mr. V. Balaraman Former Chairman, CAMS Mr. Hari Eswaran Chairman, Easun Group

Ms. Mallika Srinivasan !     Tractors & Farm Equipment Ltd.

Mr.S.G.Prabhakharan

Mr.T.Shivaraman Managing Director & CEO, Shriram EPC Ltd.

Mr. N. Srinivasan Senior Partner (Retd.) F & R

Mr. N .Srinivasan Vice-Chairman & Managing Director The India Cements Ltd.

Chairman, XS Real Properties Pvt.Ltd.

Mr. Srinivasan K Swamy

Mr. N. Ramachandran

Chairman & Managing Director R K Swamy BBDO Pvt. Ltd.

Chairman, Results Investments Pvt Ltd

Mr. L. Sabaretnam Director, Coromandel Sugars Ltd.

Mr. N. Sankar Chairman, The Sanmar Group

Mr. T. T. Srinivasaraghavan Managing Director, Sundaram Finance Ltd

Mr. N. Venkataramani Chairman & Managing Director India Pistons Ltd.

PROGRAMS AT A GLANCE 2018 - 19 Statutory

1

Chamber Day

1

Flagship Activity

8

Delegations

1

Special Program

1

Doing the Honors

8

Food For Thought

1

Inspire to Innovate (Industrial Visits)

2

Sustainable Chennai Forum (SCF)

5

Together we grow (Joint Programs)

10

Expert Committees

18

General Committee Meetings

12

Expert Committee Meetings

37

Total

105

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MCCI Programs

MCCI Programs FOR THE YEAR

Direct Taxes Conference Discussion Meet with Mr. Pradeep Ramakrishnan, Dy. General Manager, SEBI, Member, Uday Kotak Committee Recommendations on Corporate Governance

Session on Authorised Economic Operator (AEO), E Way Bill & E Sanchit Interactive Meeting with Mr. Sanjay Bhattacharya, Indian Ambassadordesignate to Turkey Seminar on Best Practices on IR: Learnings from Manufacturing for the IT Industry

JUL - 2018

6th Trade Meet with KPL

MCCI and IIT Joint Workshop to map onthe-ground challenges related to Waste, Water, and Land-Use HR conference on Futuristic HR In- House EXIM, GST, E-Way Training program for Michelin Executives Seminar on “GST@1 - Journey so far and the Road Ahead”

AUG - 2018

MAY - 2018

APR - 2018

Celebrating Entrepreneurship Event with BDHC

182nd Annual General Meeting MCCI & WITT - Seminar on Ocean Wealth: Potential & Opportunities for Sustainable Blue Economy MCCI & Yes bank -Knowledge Session on “Scaling up Businesses in Tamil Nadu”

Two day Conference on Independent Directors of Today & Tomorrow Solar Roofs Chennai 2018

Tamil Nadu Plastic Ban: A Solutions Mapping Meeting (MCCI Jointly with Paperman & US consulate, Chennai)

Visit to Hanon Automotive Systems Pvt.Ltd. FFT on Man vs Machine Session on Indian Accounting Standard (Ind AS) Interactive meeting with Mr. Jaap Werner, Consul General of Netherlands

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SEP - 2018

JUN - 2018

HR Certificate course - Theme: Futuristic HR

Discussion to make Chennai a Financial Hub Trade Delegation to Northern Ireland 183rd Chamber Day Wellness Awareness Session on “Heart Diseases” jointly with Dr.Reddy Foundation Interaction meeting with Mr. Jayant Nadiger, Trade & Investment Commissioner of Flanders, Belgium


Presentation on Data Protection by Ms Arya Tripathy

Program on HR Analytics

Certificate Progam on Prevention of Sexual Harassment at Workplace

JAN - 19

OCT - 18

Conference on Future of Power in Tamil Nadu jointly with India Energy Forum, New Delhi

Conference on Roadmap to Zero Waste in Chennai

MCCI & Ethiraj College for Women Department of Commerce– International Conference on Innovative Metamorphosis: An Elixir for Organizational Excellence Tamil Nadu Global Investors Meet 2019 - MCCI Seminar on Chennai as a Next Generation Financial Hub Interactive Meeting with H E Saravanan Karathihayan, Consul General Consulate of Malaysia

Factory Visit to IP Rings Ltd

Interactive Meeting on GST Audit and Filing of Annual Returns

Two day workshop on Companies Act 2013 in Asan memorial College

Meeting with Mr. Ade Sukendar, Consul General of the Republic of Indonesia, Mumbai

Workshop on Central Budget 2019-20 & Updates on GST

Interactive Meeting with the officials of the Customs Dept. Design Thinking Workshop

FEB - 2019

NOV - 2018

Legal Conclave

Workshop Italian Excellence in Engineering for Indian Infra with Indo Italian Chamber

Presentation & Interaction on Trade between India and Fiji and Investment Opportunities in Fiji Interactive meeting with H.E. Mr. Artis Bertulis, Ambassador of the Republic of Latvia Water Expo

CSR Conference for Social Transformation

Q & A Session on Companies Act 2013 Seminar “PHYGITAL 2018” on Artificial Intelligence and Block Chain Interactive meeting with H. E. Mohammed Haghbin Ghomi, Hon’ble Consul General of The Islamic Republic of Iran

MAR - 2019

DEC - 2018

Round table on Circular Economy Seminar on Healthcare today and tomorrow Creating a Sustainable Medical Leadership Seminar on Corporate Governance Session on “Judgement of the Supreme Court on Allowances under EPF Act” jointly with EFSI Commodity Conclave 2019 Session on “Is GST Heating up”? Updates of Court Judgements

9


Indian Economy

INDIAN ECONOMY The global economy which recorded strong growth in 2017 and early 2018 witnessed a noticeable slowdown in the second half of 2018. This was the culmination of a number of factors affecting major economies. India, which is among the fastest growing large economies in the world, also saw its growth rate showing a decline in 2018-19. While the Government Final Consumption Expenditure continued to grow over the last few years, growth of private final consumption expenditure continued to stagnate. Credit and deposit growth of banks climbed to 13.23 percent and 10.03 percent respectively. While agriculture, industry (SME and Large) and services recorded a growth in credit, retail lending witnessed a marginal decline. However, GDP growth continues to be a cause for worry with growth rates of successive quarters exhibiting a declining trend. India is now the sixth largest economy in the world with GDP of US$ 2.7trillion in 2018 and is poised to become the fifth largest by the end of 2019. In purchasing power parity (PPP) terms, India is already the third largest economy with GDP of US$ 10.5 trillion in 2018, accounting for 7.8 percent of world total. The key challenge appears to be the risk aversion of the corporate sector which continues to deleverage, the risk version among the banks and the continued weak performance of the NBFCs all of which have prolonged the weakness in the capes cycle, particularly private sector Capex.

GDP Growth As per provisional estimates released in May 2019, India’s economic growth as measured by gross value added (GVA) has improved marginally from 6.5 percent in 2017-18 to 6.6 percent in 2018-19. Growth in agriculture declined 4.7 percent to 2.9 percent, while industrial growth improved marginally while Services remained largely at the same levels as 2017-18. The Index of Industrial Production (IIP) growth slowed to 3.6 percent from 4.4 percent the year before.

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ANNUAL GDP AND GROWTH IN CONSTANT (2011-12) PRICES

With the exception of the services sector, GVA has witnessed a secular decline over the four quarters of FY 2019 with agriculture experiencing the steepest fall. Mining and Quarrying improved from 0.4 percent growth in Q1FY 2019 to 4.2 percent in Q4. Manufacturing growth saw a steady decline through the year, while Electricity, Gas & Water Supply grew in the first three quarters at 6.7 percent, 8.7 percent and 8.3 percent respectively before falling to 4.3 percent in the last quarter. In the Services sector, Construction and Trade, Hotels and Communication declined while Financing, Insurance, Real Estate & Business Services and Community, Social & Personal Services grew.

QUARTERLY GROWTH RATES OF GROSS VALUE ADDED


In line with the GDP figures, the Index of Industrial Production (IIP) also saw a declining trend through the year. The IIP recorded a growth of 3.6 percent for FY2019 which was less than nearly 1 percentage point of 4.4 percent the previous year. While the year on year number does not look too bad, the quarterly numbers show a worrying declining trend, some of which could be attributed to the impending elections.

ANNUAL GROWTH RATES OF INDEX OF INDUSTRIAL PRODUCTION This also appears to be corroborated by RBI data on capacity utilization which started showing an upward trend from last quarter of calendar year 2018. The RBI survey of Jan – March 2019 indicates a further increase to 77 percent capacity utilization which could be read as early signs of an economic revival.

It is however encouraging to see that some sectors have shown an upward bias over the last months of FY 19. Cargo performance both by the ports and the railways has started improving indicating signs of increased industrial activity.

Similarly cement and energy sectors have also shown an upward growth in the last quarter of FY 2019 indicating picking up of industrial activity particularly in the construction and engineering sectors. An uptick in bank credit to housing sector corroborates the improved construction activity.

PERFORMANCE OF CORE INDUSTRIES The combined index of core industries stood at 145in March 2019indicating a growth of 4.7 percent over March 2018. On an annual basis, the growth in index grew marginally from 4.2percent in 2017-18 to 4.3 percent in 2018-19. Growth has been high for coal and cementwhile the index for electricity moved from 149 to 157 representing a 5.1 percent growth as compared to a 5.3 Percent growth in the previous financial year. Growth was also lower for steel and petroleum products. The quarterly growth rates witnessed a successive decline from 5.5 percent in Q1FY2019 to 2.9 percent in Q4FY2019 which was in line with the IIP performance.

11


Indian Economy

GROWTH IN EIGHT CORE INFRASTRUCTURE INDUSTRIES

MONTHLY GROWTH RATES OF WPI & CPI

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INFLATION Inflation pressures have been increasing during 201618 on account of the sharp increase in fuel and energy prices. With expected record food grain production of 277 million tonnes in 2017-18, food inflation has been lower. The wholesale price index (WPI) increased 2.9 percent in 2017-18 compared with an increase of 1.7 percent in 201617. The increase was because of 8.1 percent increase in prices of fuel and power, but lower 1.3 percentincrease of prices of primary articles. Manufactured products prices increased 2.7percent in 2017-18 (1.3 percent in 201617 and 3 percent in fourth quarter). Retail inflation, as measured by consumer price index (CPI) was higher than WPI at 3.6 percent in 2017-18 though CPI increase was higher at 4.6 percent in third and fourth quarter. WPI remained around 5 percent through the first three quarters before moderating to 2.9 percent in the last quarter. While food inflation remained negative during the second and third quarters of FY2019, fuel prices saw a sharp increase in these quarters given the geo political situation. The price of India’s crude oil basket increased from US$ 65 in the fourth quarter of 2017-18 to US$73, US$75 and US$68 in the first three quarters of FY2019 before coming down to US$ 64 in Q42019. After a 20 percent increase in 2017, the global metals and mineral price index declined by 10 percent in 2018.

THE EXTERNAL SECTOR The year 2017 saw world trade growing over 4 percent after 6 years. While the growth sustained at 3 percent in 2018 primarily on account of higher oil and commodity prices, the uncertainties on account of the trade wars saw global trade dip to 3 percent in 2018. The headwinds are expected to continue in 2019 and global trade is projected to fall to 2.6 percent before reaching 3 percent in 2020. While India’s exports in Rupee terms increased 18.3 percent in 2018-19 to Rs. 23,144 billion, imports also increased 18.23 percent to Rs. 35,480 billion. Export of petroleum products increased by nearly 35 percent to reach Rs. 3248 billion. Chemical and related products’ export grew by 26 percent to reach Rs. 3061 billion while textile and allied products grew by a mere 11 percent to reach Rs. 2576 billion.

jewellery imports reduced by 6 percent and reduced to Rs. 4,511 billon from Rs. 4,811 billion in 2017-18. This is also reflected in the low export growth of gems and jewellery at 5 percent. India’s merchandise exports reached an all time high US$ 331 billion in 2018-19, registering an increase of 9.06percent over the previous year aided by good performance by the petroleum and gems and jewellery sectors which contributed to about 27 percent of the total exports. Merchandise imports also increased by 9 percent to reach US$ 506.44 billion.The share of exports in GDP continued to decline from 11.7 percent in 2017-18 to 11.13 percent in 2018-19while the share of imports was at 17.06 percent. India’s trade deficit has declined from a peak of US$ 190 billion in 2012-13. From a low of US$ 109 billion in 201617, it raised to US$ 161 billion in 2017-18 and further to US$ 180 billion in 2018-19 on account of higher growth in imports vis-à-vis exports which also contributed to a higher current account deficit (CAD). India’s CAD as a result widened to 2.1 percent of GDP in 2018-19 up from 1.8 percent of GDP in 2017-18. However, Q4 of 2018-19 saw the CAD narrowing to 0.7 percent of GDP primarily on account of lower trade deficit at US$ 35.2 billion compared to US$ 41.6 billion for the corresponding period of the previous year.

Oil imports increased 40 percent in 2018-19 to Rs. 9,860billion. However, non-oil imports have increased 13.1 percent to Rs. 26,017billion. Import growth (in Rs. terms) was high for chemical and related products (+28.3 percent to Rs. 3,341 billion), machinery (27.6 percent, Rs. 3,219 billion), electronics (16.84 percent, Rs. 3,881 billion) and base metals (28.03 percent, Rs. 2,264billion). Gems and

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Indian Economy

BALANCE OF PAYMENT INDICATORS

CENTRAL GOVT. DEFICIT INDICATORS

India’s foreign exchange reserves were at US$ 412 billion on March 29, 2019. Risks to growth in global trade and output include escalating trade tensions which may affect business confidence and investment decisions. Faster monetary tightening by central banks could also trigger fluctuations in exchange rates and capital flows. According to the WTO India ranks in 20th merchandise exports and 8th in export of commercial services.Despite a turbulent global trade scenario where protectionism is on the increase, India managed to maintain its share of exports and imports at 1.68 percent and 2.48 percent of global trade respectively.

FOREIGN DIRECT INVESTMENT

FISCAL HEALTH The Interim budget 2019-20 has budgeted for slippage in central government deficit indicators from the Medium Term Expenditure Framework (MTEF)/Fiscal Responsibility and Budget Management (FRBM) review roadmap. Gross fiscal deficit as percent of GDP continued to remain at 3.4 percent in 2018-19 as against the budgeted estimates of 3.3 percent. The budgeted deficit for 2019-20 is pegged at 3.4 percent with the achievement of the target of 3 per cent of GDP continues to be the target for 2020-21. However, the full fledged budget may see some changes to the targets. The total revenue receipts increased by 18 percent in 2018-19 (Revised estimates for 2018-19 over actuals of 2017-18), the same is budgeted to increase by 14 percent in 2019-20. Direct tax revenue and indirect tax revenue grew by 20 percent by 14 percent respectively in 2018-19. The budgeted estimates for the same for 2019-20 are 15 percent and 12 percent respectively. Revenue deficit was at 2.2 percent of GDP in line with the budgeted estimates and the same for 2019-10 is estimated to remain at 2.2 percent.

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Foreign Direct Investment (FDI) equity inflows into India declined marginally from US$ 44.86billion in 2017-18 to US$ 44.37 billion in 2018-19. In 2018-19, the highest FDI came in services (US$9.16 billion), followed by computer software/hardware (US$ 6.42 billion), and telecom (US$ 2.67 billion). Singapore led the FDI inflows into India with US$16.23billion, followed by Mauritius (US$8.08 billion), the Netherlands (US$ 3.87 billion) and US ($3.14 billion). According to UNCTAD, global FDI inflows fell 13 percent in 2018 to US $1.3 trillion. The decline was caused by US MNC’s repatriating earnings from abroad, making use of tax reforms introduced by the country in 2017, designed for that purpose. In 2019, FDI is expected to recover in developed economies as the effect of the US tax reforms winds down.

FOREIGN PORTFOLIO INVESTMENT Foreign Portfolio Investment (FPI) inflows in the equity and debt markets in India declined during 2018-19. Overall, net FPI inflows were Rs. 1,447 billion during 2017-18, compared with outflows of Rs. 389 billion in 2018-19.


Note: a - Average exchange rate (RBI’s reference rate); b - Fiscal indicators for 2017-18 are based on revised estimates.

KEY INDICATORS Data Categories

Unit

2016 - 17

2017 - 18

2018 - 19

1. GVA and Related Indicators GVA (current market prices)

Rs Crore

13,935,917

15,482,715

17,199,815 11.1%

Growth Rate

%

10.8%

11.1%

GDP (factor cost 2011-12 prices)

Rs Crore

12,298,325

13,179,858

14,077,586

Growth Rate Per Capita GDP

% Rs.

8.2% 104659

7.2% 114958

6.8% 126406

Million Tonnes

275.11

285.01

283.37

%

4.6%

4.4%

3.6%

%

5.8%

5.3%

5.1

% %

1.7% 4.5%

2.9% 3.6%

4.3% 3.4%

Export (in US$ terms)

% Change

5.2%

10.0%

8.6% 10.2%

2. Production Food grains Index of Industrial Production Growth Electricity Generation Growth 3. Prices Inflation (WPI) (average) Inflation CPI (average) 4. External Sector Import (in US$ terms)

% Change

0.9%

21.1%

Current Account Balance (CAB/GDP)

%

-0.6%

-1.9%

Average Exchange Rate

Re/US$

67.1

64.5

69.9

Foreign Exchange Reserves

$ billion

370.0

424.5

412.9

Broad Money (M3) (annual)

% Change

10.1%

9.2%

10.5%

Scheduled Commercial Bank Non Food Credit

% Change

9.0%

10.2%

13.4%

5. Money and Credit

6. Fiscal Indicators (Centre)

b

Gross Fiscal Deficit

% of GDP

3.51%

3.54%

3.4%

Revenue Deficit

% of GDP

2.07

2.62

2.22

Primary Deficit

% of GDP

0.36

0.38

0.26

7. Population

Million

1,299

1,316

1,332

CONCLUSION The international Monetary Fund (IMF) has moderated the projected growth for FY2020 and FY2021 citing the domestic slowdown and weaker global outlook. However, IMF expects India to retain its position as the fastest growing major economy. IMF estimates the country grew at 7.1 percent in FY2019 and is expected to grow at 7.3 percent in FY2020 and 7.5 percent in FY2021. These are 0.2 percentage points less than IMF’s previous assessment in January. The World Bank has retained projections for

India’s economic growth at 7.5 per cent for FY2020 even as it cut global economic expansion by 0.3 percentage points. Much of the growth will depend on the ability of the banking sector to expand credit and the private sector to make capital investments. While the Government will continue to spend in the infrastructure and social sectors, it is private capital investment that will spur growth. A bountiful monsoon will also help in improving demand and private consumption.

15


Tamil Nadu Economy

TAMIL NADU ECONOMY Tamil Nadu continues to be in the forefront of India’s economic development, contributing to more than 8 percent of India’s GDP. The state is among the most industrialised states in the Country and boasts of a diverse mix of sector and product portfolios and also boasts of laudable socio-economic indicators. Tamil Nadu is the second largest state of India in terms of the economy.The State is committed to achieve higher sustainable economic and inclusive growth.The state posted a GDP growth of 8.16 percent in 2018-19 which is higher than the national growth rate.

GSDP OF TAMIL NADU AT CURRENT PRICES

CAGR of between 2013-14 & 2018-19 was about 10.6%

Given its strong base of traditional industries and the growing services sector, the state has managed to consistently outperform the national growth rate. The slow

16

In FY2018, it ran a fiscal deficit of 2.8 percent (20 bps below medium term fiscal plan of 3percent of GSDP). Tamil Nadu has issued all of its targeted UDAY bonds as per the MoU and the fiscal deficit for FY2019 stands at 2.85 percentof GDP (Revised Estimates), which is within the FRBM limit. The state has budgeted to bring down the deficit further to 2.56 percent in FY2020. The state has also been performing consistently well on the Debt to GSDP ratio. The state managed to keep the ratio at 22.29 percent in FY2019 and has budgeted the same at 23.02 percent for FY2020. The state continues to stand first in the industrial sector with the highest number of factories and industrial workers. The state also has a leadership position in the MSME sector in terms of the number of factories.

(RS. CRORE)

CAGR 10%

growth of population at 0.9% per annum during FY2014-19 has resulted in a 9.6% increase in annual per capita income - from Rs. 131,077 in 2013-14 to Rs. 207,520 in 2018-19.


GSDP PER CAPITA OF TAMIL NADU AT CURRENT PRICES

SHARE OF GROSS STATE VALUE ADDED

FDI INFLOWS & INVESTMENTS

The break up of Gross State Value added shows a balance distribution across sectors. The state enjoys a strong industry base as evidenced by the share of the secondary sector.

The state continues to maintain its 4th position in attracting FDI investments with a 7 percent share in total FDI inflows behind Maharashtra, NCR and Karnataka, who received 30 percent, 20 percent and 9 percent of FDI inflows respectively.

17


TamilNadu Economy

KEY DRIVERS OF TAMIL NADU’S ECONOMY

development. As such, power development is one of the key inputs for the overall socio -economic development of a State.

INFRASTRUCTURE

As per Central Electricity Authority’s (CEA) statistics for March 2019, Tamil Nadu has a total installed capacity of 31,059 MW. Of this the central sector accounts for 6,069 MW, while the state sector accounts for 7,145 MW. The balance installed capacity of 17,845 MW is accounted for by private power companies in the state. The installed capacity includes about 2,178 MW of hydro power, which is normally used to meet the peak-hour load. Tamil Nadu has achieved 100% electrification of households.

Power: The success of economic growth in an economy with sustainable development critically depends upon the macro economic environment coupled with infrastructural

Tamil Nadu is a leader in renewable energy, more specifically the wind power. The installed capacity of renewables as of March 2019 is around 12,647 MW.

The state has traditionally been strong in all the three sectors. The state also has a well-established physical and social infrastructure that has been the backbone of its development.

TAMIL NADU POWER DEMAND & DEFICIT

Ports:The state has 3 major ports and 17 minor ports. While the overall traffic in the major ports have increased, Tuticorin port saw a fall in cargo traffic primarily on account of the closure of Sterile Industries (contributing to 1.5

18

million tonnes) and the discontinuance of wheat import. Further, export of construction material to Maldives has also dropped from 1.8 million tonnes in 2016-17 to 0.27 million tonnes in 2018-19.


CARGO TRAFFIC AT MAJOR PORTS IN TAMIL NADU (MILLION TONNES) The state has a good logistics infrastructure with 5,324 Kms of National Highways, 11,830 Kms of State Highways, 11,638 Kms of Major District Roads and other district roads of 34,858 Kms. The rail network is also well spread out with 4,191 Kms of railway lines and 690 railway stations. Tamil Nadu is the only state in India to have 4 international airports. In 2018-19, Chennai Airport recorded a 10.7% growth in passenger traffic to 22.54 million. Freight traffic declined 1.5% in 2018-19 to 412 million tonnes. Chennai airport is expected to add a new terminal building at the airport in Chennai at a cost of INR. 24.67 billion. The new terminal building could have a capacity of 35 million passengers per annum, and take care of growth requirements till 2027.

SKILL DEVELOPMENT The state has a highly qualified, skilled, disciplined, productivity-oriented and English-speaking human resource pool. Tamil Nadu produces nearly 4 lakh engineering and polytechnic students every year, the highest in the country. Tamil Nadu is an early adopter of skill development initiatives. Further, the school education system is well organised and has been a very good feeding in mechanism to higher education and technical/vocational education. The state has over 58,000 schools with a Net Enrolment rate of 99.86 percent at the Primary level and 99.22 percent at the Upper primary level. The Pupil-teacher ratio at the Primary level is 24.02 students per teacher and at the Upper primary levels 24.77 students per teacher.

EXPORTS Merchandise exports from Tamil Nadu continued to grow to reach US$ 30.52 billion in 2018-19 up from US$ 29.75 billion in 2017-18. The state continues to be in third position amongst Indian states in exports behind Maharashtra and Gujarat. Automobiles and auto components and textiles and garments are the major export items. The state also stands second in the country in terms of software exports with US$17.3 billion worth of exports in 2017-18.

GLOBAL INVESTOR MEET 2019 The second Global Investor Meet was conducted in January 2019. The state signed 304 Memoranda of Understanding in 8 sectors entailing an investment of Rs. 3 lakh crore. These investments are expected to generate over 10 lakh employment opportunities over the next few years. 90 percent of the proposed investments are from existing investors in the state which shows confidence that the investors have.

CONCLUSION The state has traditionally had vibrant agriculture and industry sectors and has also built a strong services base over the last few years. This has been possible given the availability of skilled workforce and strong work ethic. However, the state has witnessed strong competition in the race for investments from other neighbouring states. The state also ranked poorly on the index of doing business. The enactment of the business facilitation legislation and enabling Single Window application and clearance both for large industries and MSMEs are steps in the right direction to ensure that the state continues to retain its premier position.

Courtesy: Sammati Counsulting & Analytics LLP

19


GC MEETINGS

GC MEETINGS & SPECIAL INITIATIVES The Committee met every month regularly and held 12 meetings during the year. Apart from the various regular reviews, consultations, and discussions, the deliberations centered on some important subjects and they have been implemented as Special Initiatives of the Chamber.

Study on Industrial Estates As reported last year, based on the discussions by the General Committee, the Chamber undertook a study on the health of the Industrial Estates in the State which are essential to attract investments and come up with suggestions for improving them both from infrastructure and operational standpoint. The Chamber engaged the services of Avalon Consulting Pvt. Ltd and completed the

20

study. 17 industrial estates (9 SIPCOT, 5 SIDCO, 1estate outside TN and 2 benchmark estates) were identified to be form part of the samples for assessments through the exercise. Each estate was evaluated on the basis of quatitative and qualitative feedback from occupant companies, officials and Industry Experts. 101 respondents were interviewed as part of the Study. The outcome of the Study was shared with Mr. Muruganandam, Industries Secretary and the officials from SIPCOT and SIDCO wherein the presentation on the Industrial Estate Study was made by Avalon. It was a 2 hours meeting with 20 to 22 program officers and the feedback from the department was very positive. The key challenges faced by the Industries in the various estates and the pointed recommendations for improving the health of the existing estates and for better planning the new and upcoming estates were well received.


As a follow up of the study, the Chamber in is touch with the Industries Department and is taking necessary measures jointly with the Government for the improvement of the existing estates. The formation of a committee with representatives from estates and the Government Department is in process apart from exploring the possibility of taking up connectivity issues.

Design Thinking Based on the recommendations of the Membership Committee, the General Committee had a brainstorming session on the future focus of the Chamber. It was agreed in the discussion that while the Chamber has been successful in representing the interests of the industry and business, the changing economic and regulatory environment point to a need for a change in the traditional role of the Chamber to ensure that it stays relevant. Hence it is necessary to review the vision and mission of the Chamber and identify the focus areas to ensure that the interests of the industry and business are adequately addressed. The Chamber has engaged the services of Sammati Consulting and Analytics LLP to review the vision and mission of the Chamber and to come up with an action plan. The same would be discussed in detail and presented to the members shortly.

Chennai as a Next Generation Financial Hub The General Committee had internal discussions and organized round table discussions to explore the possibility of making Chennai a Financial Hub. Mr. S. Mahalingam, Ex.CFO, TCS facilitated the discussions wherein experts such as Mr. Narayanan, KPMG, Mr T.T. Srinivasaraghavan MD Sundaram Finance, Mr. T.Shivaraman, MD & CEO, Shriram EPC Ltd., Mr. Rajesh, HDFC and a few others along with Mr. Ramkumar Ramamoorthy, President took part and deliberated. Based on the base work done by the Chamber, he Chamber had an opportunity to curate the Conference on â&#x20AC;&#x153;Making Chennai the next Generation Financial Hubâ&#x20AC;? in the recently    "#'* <=       and the stakeholders were interested in initiating this concept to make it a reality. The details are given inside. After the Conference, we had fruitful meetings with Mr. Shanmugam, IAS, then Finance Secretary & currently, the Chief Secretary, Mr. Santhosh Babu IAS, IT Secretary and Mr.S. Krishnan, current Finance Secretary. As the Government is interested in making this concept a reality, they would involve other stakeholders and call for discussions to take it forward and the Chamber would definitely take the lead in this project.

Design Thinking Workshop

21


STATUTORY

182nd ANNUAL GENERAL MEETING The 182nd AGM of the Chamber was held at Hotel ITC Grand Chola, Chennai. In the Business Session, the newly constituted committee for the year 2018 - 2019 was announced.

Mr. Ramkumar Ramamoorthy, Executive Director, of Cognizant Technology Solutions India Pvt. Ltd., was elected as the President and Mr. Srivats Ram, Managing Director of Wheels India Ltd., was elected as the Vice President of the Chamber. In the Public Session, Mr. L. Ganesh, Chairman of RANE Group was the Chief Guest. The Public Session was attended by more than 200 participants.

Business Session Mr. Ram Venkataramani, President chaired the meeting and conducted the proceedings. Before taking up the components of the agenda for discussion, he apprised the members about the various initiatives and the activities of the Chamber during the year. This was followed by the following resolutions being adopted by the General Body. Annual Report of the year 2017-2018 Audited Statement of accounts of the year 2017-2018

22

Mr. L. Ganesh, Chairman of RANE Group

02nd Aug 2018


Rates of Subscription payable by different classes of members for the year 2018-2019. There is no revision and the existing rates would continue as well as the voting rights. Appointment of Auditors for the year 2018-2019. M/s RGN Price & Co. will continue as auditors for the current year 2018-2019.

The newly constituted General Committee for the year 2018-2019 and the Expert Committees Chair and Co-Chair Ms. announced. Rajashree Natarajan, Co-Chairperson briefed the were audience about the CSR initiative and the process of selection of winners. The winners were felicitated by the Chief Guest.

Public Session In the Public Session, Mr. Ram Venkataramani, President, MCCI in his welcome address briefed about the important activities and the key initiatives that the Chamber undertook in the year 2017-2018.

The Chamber instituted the MCCI CSR Awards in the year 2018 to recognize the social impact created by the innovative CSR practices in Tamil Nadu. The purpose of this award was to encourage companies, CSR Foundations, NGOs and other implementing agencies to deliver projects that have a strong social impact. After a rigorous selection process, the following were adjudged as the winners from 40 projects.

V-Excel Educational Trust & Grundfos Pumps India Pvt Ltd. – Winner Mr. Ramkumar Ramamoorthy, President Elect delivered the formal vote of thanks. National Agro Foundation & BNY Mellon Technology India – First Runner up Exnora & ITC Ltd. – Second Runner up The Public Session was attended by more than 200 participants.

Mr. L. Ganesh, Chairman of RANE Group was the Chief Guest. He addressed on the topic “A case for manufacturing based on the case studies from US and China” and he stressed upon the importance of innovation that has made the United States and China, the strongest players in the market. With regard to India, he highlighted on a few aspects such as labour laws, training and development, infrastructure development and ease of doing business. He also elaborated on what is required to improve manufacturing in India. He concluded by stating that we would need to set up policy at work to drive growth through favourable employment, lower import dependence, compete globally on critical parameters such as quality rather than cost and only then we can become a scientific, economic and political power. He added that we have to create the right vision, goals, and strategies to achieve them.

MCCI CSR Award Winners

23


CHAMBER DAY

CHAMBER DAY

29th Sep 2018

The Chamber celebrated its 183rd Chamber Day at Hotel Le Royal Meridian on 29th September 2018. Mr. Ramkumar Ramamoorthy, President of the Chamber in his welcome address gave an overview of the Chamberâ&#x20AC;&#x2122;s different initiatives with an outline of the changing times. He outlined on the vision of the Chamber and stated that in the next three years, the Chamber will identify 50 to 100 industry leaders, including CXOs from member companies, to be on the Academic Council, the Senates and Syndicates of Universities and educational institutions of higher learning and research are to impact every facet of academia and truly bridge the gap. Mr. Gopal Srinivasan, Managing Director, TVS Capital Funds Pvt Ltd., thanked the Chamber for inviting him on this important occasion. He mentioned about the coffee table book of the Chamber and said he was awestruck by the enormous efforts of the leaders who had worked hard to make Chennai a beautiful city. He also mentioned that though the city has become business friendly in the recent times, the entrepreneurs are finding it difficult to face the roadblocks, whereas tougher roadblocks were surmounted by the persevering efforts of leaders at those days. He appreciated the Chamber for speaking the truth and narrated how the Chamber had opposed the introduction of income tax and then the powers had been given to the authorities.

Mr. Srivats Ram, Managing Director, Wheels India Ltd., and Vice President, proposed the vote of thanks.

24

Mr. Gopal Srinivasan addressing the audience


With regard to the growth of Tamil Nadu, Mr. Gopal Srinivasan stated that the GDP has risen more than 14 times in the past 20 years. The State is richly talented and caters to the needs of the top IT companies. However, in recent times, there is a steady drop of investments and there has been only 1% of the total investments in the entire country that has been invested in Tamil Nadu. Though there is a development in terms of Business Facilitation Act, Chennai Metro rail development, Salem – Chennai highway, the progress in the industrial development are not in pace whereas for our neighboring States, they are active. He concluded by stating that “Success begets Success” and it is time for the Chamber to repeat what it had done earlier to make Chennai regain its position.

class and thus creating himself as an example of not wasting public money. He commended the Chamber for promoting trade and Industry and transforming the industrial complexion of Tamil Nadu and for playing a catalytic role in policy making of the government.

Speaking on the occasion, the Hon’ble Governor of Tamil Nadu, Shri. Banwarilal Purohit lauded the Chamber for the 182 years of commendable service in promoting Commerce & Industry. He stated that Tamil Nadu has a diversified manufacturing sector and features among the leading states in several industries like automobiles, components, engineering, pharmaceuticals, garments, textile products, leather products, chemicals, plastics, etc. It ranks first among the states in terms of the number of factories and industrial workers. Tamil Nadu’s entrepreneurial ecosystem is the envy of many states across the country. The current statistics state that three cars are produced every minute and one truck every 2 minutes and a motorcycle for every 6 seconds in Chennai, proving the accelerated growth of the automotive Industries in Tamil Nadu. This shows that the state has taken a huge step in the development of the automotive industry. He also added that he thought that Maharashtra to be the best state as he hails from it but Tamil Nadu is faring better. He spoke about his experiences of traveling to 24 districts and about his simplicity to travel in economy

Mr. Ramkumar Ramamoorthy, President of the Chamber in his welcome address gave an overview of the Chamber’s different initiatives which are in line with the changing times.

The meeting was attended by more than 200 participants which concluded with dinner.

25


FLAGSHIP ACTIVITIES

DIRECT TAXES CONFERENCE

27th Apr 2018

Under the auspices of the Direct Taxes Committee, the Conference was organized on 27th April 2018 at Hotel Raintree, Anna Salai, Chennai.

The objective of the Conference was to bring a clear understanding of the various provisions of the Income Tax and other related issues. The topics that were discussed in the Conference include 1.

The interplay of Indian Accounting Standards (Ind AS) with Tax laws â&#x20AC;&#x201C; An overview

2.

Case Studies on Taxation of Business Profits

3.

Internal Restructuring /group consolidation and share-based transactions

4.

TDS on international remittances-Issues and Perspectives

26

Mr. Sriram Seshadri, Chairman, Expert Committee on Direct Taxes welcomed the participants and gave an overview of the Conference. He briefly introduced the speakers, the topics and set the tone for the conference


The above-mentioned topics were addressed by the eminent speakers: > *?*[ < <\]  ^ _`?{  [ \ E & Y LLP, > **| } \~<    \~<  > *[  [<  Â&#x20AC;   \Â&#x20AC;   <`~*Â Â Â&#x20AC;\ Chennai & Chairman, MCCIâ&#x20AC;&#x2122;s Direct Taxes Committee and > *Â&#x201A;} Â&#x201A;  {<  \ \[    Padmanabhan & Ramamani Advocates. The sessions were attended by a selective group of forty members. The presentation and interactions were greatly appreciated by the Delegates.

27


FLAGSHIP ACTIVITIES

HR CONFERENCE WITH THE THEME

13th

FUTURISTIC HR

Jul 2018

The Madras Chamber and National HRD Network (NHRD) Chennai Chapter jointly organized a one day HR Conference with the theme â&#x20AC;&#x153;FUTURISTIC HR â&#x20AC;&#x153;on Friday, 13th July 2018 at Hotel Raintree, Anna Salai, Chennai.

Mr. T.Shivaraman, Past President, MCCI & Managing Director & CEO, Shriram EPC Ltd., welcomed the speakers and participants Mr.R.Venkatanarayanan, President, NHRDN, & PresidentHR, RANE Group set the tone for the conference by sharing his experiences and the changes that have taken place, in recent times. Mr.S.G.Anil Kumar, Founder & CEO, SAMUNNATI, delivered a special address and brought out the differences in various functions of the industries, especially in HR from those days to today, with anecdotes and his personal experiences.

The other speakers who addressed various topics including HR Analytics and HR in changing times are the following: > *[<} Â&#x192;  \~Â&#x2020;\]\]  > **Â&#x2021;  } \~Â&#x2C6;Â&#x2030;\~   >*[ < ? \]  \~  ~  

28


On the following debate on whether “Will the technology impact the design and delivery of HR functions?” moderated by Prof. N.Sridhar, Great Lakes Institute of Management (GLIM). Mr.R.Venkatanarayanan, PresidentHR Rane Group, Mr.Srinageshwar, Vice President – Group Industrial Relations, Simpson & Group Companies, Ms. Devika Dharamaraj, Director, Kelsa Management Solutions shared their views about the technology impact on HR functions. In the session on “How to remain relevant in the midst of disruptive change” young HR Perspective, Ms.Punitha Anthony, Sr. Manager-HR, CSS Corp. and Mr.Lakshmanan Swaminathan, Manager-Talent Acquisition, Williams Lea Tag made a presentation followed by address from Mr.N.Manoj Kumar, Manager-HR, RANE, NSK Steering Systems and Mr.Umanath Kumar, Divisional Manager-HR, Daimler India Ltd. Commercial Vehicles. In the Valedictory Session, Mr. Murugavel Jayaraman, Founder & CEO, Bharat Matrimony Group shared his experiences of starting an enterprise and its phenomenal growth in 2 decades and the role and impact of HR in his organization. Hon’ble Minister Mr. K. Pandiarajan, Minister for Tamil Culture and Tamil language was the Chief Guest for the valedictory session. He addressed the participants and distributed the certificates to the participants of the HR Certificate Course conducted by the Chamber in the month of May and June 2018 and honored the HR Committee Members of the Chamber. He urged the participants to be updated about the latest practices in HR and to cope up with the rapid changes.

29


FLAGSHIP ACTIVITIES

TWO DAY CONFERENCE ON

07th & 08th Sep 2018

INDEPENDENT DIRECTORS OF TODAY &TOMORROW. The Chamber under the auspices of the Company Law /Corporate Affairs Committee organized a two day Conference on Independent Directors of Today and Tomorrow on 7th and 8th September 2018 at Welcom Hotel.

In the inaugural session, the Chief Guest Mr. T.N. Manoharan appreciated the Chamber for organizing an appropriate program for Independent directors in his keynote. He added that it is the need of the hour, as the Governance norms are undergoing changes in the present day contextually and more responsibilities will be thrust upon the Independent Directors.

The Technical Sessions had the following topics:This Conference was organized to empower the Independent Directors of Today and Tomorrow on the various roles and responsibilities and to keep themselves abreast in the changing scenario, especially with a plethora of new legislation and swift changes to the existing laws governing the Corporate.

An Independent Director should know under the Companies Act 2013. Demystifying LODR Role of Independent Directors in important Committees like Audit and Nomination/ Managerial Remuneration / CSR committees. Gender Diversity Governance.

in

Board

for

better

Corporate

An Independent Director should know FEMA/ RBI Laws and the future directions. Responsibility of Directors according to IBC Laws & Corporate Restructuring. A Critical Analysis of how Independent Directors are independent. Valuation Techniques â&#x20AC;&#x201C; Understanding numbers and reports

Dr. B. Ravi, Chairman of the Expert Committee on Company Law/Corporate Matters gave an overview about the conference.

30

Mr. Ramkumar Ramamoorthy, the President, welcomed the Chief Guest and the participants.


The topics were dealt by eminent speakers. Dr. B. Ravi, Chairman, MCCI Company Law/Corporate Matters Committee & Managing Partner, B Ravi & Associates

Mr.R. Prakash, General Manager-Legal & Group Company Secretary and Compliance Officer, HC Kothari Group of Companies

Mr. P. Viswanathan, Company Secretary, Sundaram Finance Ltd.

Mr. V. N. Shivashankar, Advocate, VNS Legal

Ms. Sangeetha Sankaran Sumesh, ED & CFO, Dun & Bradstreet Technologies & Independent Director, IFB Industries Ltd.

Mr. P.H. Arvindh Pandian, Advocate & Additional Advocate General, Govt. of Tamilnadu Mr. K.K. Balu, Senior Legal Advisor, AKM Associates, Chennai Mr. L.V. Shyam Sundar, Director, Ascend Management Consultants & Advisors Pvt. Ltd.

31


FLAGSHIP ACTIVITIES

POWER CONFERENCE FUTURE OF POWER IN TAMILNADU The Madras Chamber, in association with India Energy Forum, organized the 6th Power Conference on â&#x20AC;&#x153;Future of Power in Tamil Naduâ&#x20AC;? at the L&T Auditorium. ICRA Management Consulting Services (IMacs) was the knowledge Partner and L&T Construction, Chennai was the Industry Partner for the Conference. The sponsors for this conference were State Bank of India, L&T, Sunshot Technologies Pvt. Ltd. and Shriram Properties. Mr. Ramkumar Ramamoorthy, President, MCCI and ED, Cognizant Technology Solutions in his welcome address lauded the turnaround of the power situation from a deficit in 2013 to surplus power today, moving in the right direction. He added that the future is electric and a proper roadmap for implementation is necessary. Mr. Anil Razdan, IAS Retd. President India Energy Forum and Former Secretary Power and Special Secretary and Additional Secretary Power and Natural Gas, Govt of India have stated that Tamil Nadu is unique with an excellent combination of different sources of energy. He added that Power is only one source of energy and we have to recognize the energy demand for mobility and become less reliant on oil. There is a need for an attitude transformation of regulators in improving the financial health of the power sector.

32

05th Oct 2018


Mr. Satyajit Suklabaidya, Asst.General Manager, iMacs, Mumbai, Knowledge Partner for this conference made a presentation on how the energy sector has moved significantly from 2013 to 2018.

Mr.V.Senthilkumar, MD Eurotherm India & Mr. SivaramanIyer, Senior Manager, Process Automation, Schneider Electric made a presentation on Empowering the smart utility. Mr.S.V.Srinivasan,

General

Manager,

PPPU

&

PC,

Mr. T. Shivaraman Past President of MCCI and Managing Director and Shriram EPC in their Special Addresses stated that “as a country, we do not realize the implication of 100% electric power. 100% of electric power will be driven by renewable source due to climatic changes and give and expenditure for the economy. In the future, the interconnected grid failures will make all our systems vulnerable. Hence the grid needs to be smarter and resilient for which we need to start working today. Innovation and design need to be in-house and planned immediately so as to not lose opportunities to neighboring countries”. Mr. Bhambhani, Convenor of IEF took the audience down the memory lane recalling the association of India Energy Forum and the Madras Chamber and proposed the Vote of Thanks. The Technical Session- I dealt with “Making Power Generation Future Ready” was chaired by Mr. Anil Razdan. Mr. Murugavelan, SLDC, TANTRANSCO Tamil Nadu made a presentation on The Current landscape and future road map of TN Power. Mr. D Venkatasubbiah, Executive Director - Thermal, Neyveli Lignite Corporation addressed on Moving forward with Expansions and Innovations.

33


FLAGSHIP ACTIVITIES The Third Technical Session- Alternate source of Energy “Where are we heading to” was chaired by Mr.P B Varadharajan, Co-Chairman, MCCI Energy Committee & President, REHENA. Mr. Ravishankar, Senior Technical Audit Engineer, Madras Atomic Power Station, Nuclear Power Corporation of India Ltd made a presentation on Going Green with Nuclear Power. Dr.S.Gomathinayagam, Former Director General, NIWE, Chennai made an address on Growing with the Wind. Mr. Milan Kumar, Head-Special Initiatives – Solar Business Unit, L & T Construction (PT & DIC) presented on Shining with Solar, emphasizing on the initiatives of Solar pumps in agriculture. Mr.Sarang Garud, Associate Vice President, Business Development, Sunshot Technologies Pvt.Ltd presented on energy saving for industries via rooftop solar – a technocommercial perspective. Mr.C.Gangopadhyay, Director-Projects, Power Finance Corporation India Ltd made a presentation in the Fourth Technical Session on Managing Stressed Assets and Ensuring Efficient Financing.

Tirumayam & Chennai, Bharat Heavy Electricals Ltd, addressed the audience on Future of the Power sector – Emerging opportunities and impending Challenges.

The final Technical Session was presented by Dr. E. Natarajan, Director of Institute for Energy Studies, Department of Mechanical Engineering, Anna University on the topic,”Looking ahead through Research and development for accelerating the power sector”.

Mr. Karthick Atmanabhan, Head –EV, Ashok Leyland Ltd. made a presentation in the Second Technical Session on the topic- Are Electric Vehicles the Future? He highlighted the Electric vehicle, commercial market and its growth in India, the battery & energy technology options available and the issues and countermeasures for EV Buses in India.

Mr. S. Venkatachalam, Chairman, MCCI Energy Committee & Managing Director, Orient Green Power Co. Ltd., summed up the key points from all the sessions and proposed the vote of thanks. The conference concluded on a positive note with a participation of 80 delegates who had a lively interaction with the speakers.

34


LEGAL CONCLAVE The Chamber organized the Legal  #   =2" 

    the auspices of the Legal Committee on 21st November 2018 at Hotel GRT Convention Centre, Chennai. The aim of the Conclave was to keep the companies informed and updated on various aspects of corporate laws, to disseminate knowledge on the latest trends and to discuss the judicial interpretations on selected legal topics relating to the corporate sector. Mr. K. Vaitheeswaran, Advocate and Tax Consultant and Member of the General Committee formally welcomed the Chief Guest and the participants. Mr. Anand Gopalan, Chairman, MCCI’s Expert Committee on Legal Affairs acquainted with the themes to be discussed in the Conference.

21st Nov 2018

Mr.Anand Deshpande, Privacy & Compliance Counsel, Cognizant Technology Solutions and Ms.Akshya Suresh, Head –Legal, Fresh Works explained Data Protection Law in their presentation. In the Panel discussion on the Legal Challenges faced by the Corporate, Mr.AnandBhushan Partner & Chennai Head, Shardul Amarchand Mangaldas & Co. moderated the session. The Panelists were Mr. K. Vaitheeswaran, Advocate & Tax Consultant, Mr. C. Shiva, Executive Vice President, RANE Group, Ms.Deepa Baburaaj, General Counsel, Guardian India Operations Pvt.Ltd. and Ms. Baminee Viswanat India General Counsel, Lenovo who shared their experiences about the various challenges and answered the questions raised by the Moderator. Mr.P.Jayaprakash, Partner, Fox & Mandal covered RERA in his presentation followed by a presentation on BioDiversity by Dr.K.P.Raghuram, Technical Officer of National Biodiversity Authority The feedback from 60 participants was positive.

Hon’ble Justice T.S. Sivagnanam, Judge, High Court, Chennai was the Chief Guest. He appreciated the Chamber’s services for 183 years. He also added that India had done well in the migration to GST despite the glitches faced compared to other countries which had taken a longer period to settle down. He spoke at length about the Corporate Social Responsibility of the Industries and Corporate. He addressed the land acquisition act and the process for setting up Industries. He also mentioned about the labor issues. He commended the Chamber for choosing the apt topics for the Legal Conclave and wished its success. In the Technical Session, Mr. John Handoll, National Practice Head, Competition law, Shardul Amarchand Mangaldas & Co. threw light on Competition Law in his address.

35


FLAGSHIP ACTIVITIES

PHYGITAL

11th

># [+  #\ ##2  The Chamber organized PHYGITAL 2018 - Block Chain  +  # \ ##2   the auspices of the IT/ITes Committee. Mr. L. Ashok, Chairman, MCCI Expert Committee on IT/ ITes & MD, Futurenet Technologies India Pvt. Ltd. formally welcomed the Chief Guest, Speakers and the participants. The Chief Guest Dr. Santhosh Babu IAS, Secretary, Information Technology Department, Govt. of Tamil Nadu urged the Chamber to be ambassadors for spreading knowledge about Artificial Intelligence across Tamil Nadu in collaboration with the State Government. Dr. K. Rama Subramanian, Co Chairman, MCCI Expert Committee on IT/ITes & Director & CEO, Valiant Technologies Pvt. Ltd. proposed the formal vote of thanks.

Dec 2018

In the Technical Session on Block Chain, Mr. P.S Praveen, Country Manager â&#x20AC;&#x201C; Transaction Network Services & Block Chain Evangelist made a presentation on the topic â&#x20AC;&#x153;Demystifying Block Chainâ&#x20AC;? followed by a presentation on use cases of block chain by Mr. Narayan Neelakantan, Co-Founder & CEO, Block Armour, Mumbai. In the Technical Session on Artificial Intelligence, Mr.Kuruvila Lukose, Consultant â&#x20AC;&#x201C; Nvidia, Bengaluru made a presentation on Artificial Intelligence (AI) in Manufacturing and Mr Manish Kumar Giri, Founding Director, Inkers Technology Private Ltd., Bengaluru presented the use     

      {  Â&#x2039;Â&#x152;=     Business.

In the Panel Discussion on the Impact of Digital in Business, Dr. K.Rama Subramanian Director & CEO, Valiant Technologies Pvt. Ltd. moderated the session. Mr. R. Vittal Raj Partner, Kumar & Raj addressed on the cyber security issues. Mr. Ramesh Sampath â&#x20AC;&#x201C; Country HR Director â&#x20AC;&#x201C; India & South East Asia, Valeo India Pvt. Ltd. addressed on the Impact on Jobs due to Artificial Intelligence. Mr. K. Vaitheeswaran, Advocate & Tax Consultant highlighted the legal issues followed by Mr.Narayan Neelakantan, Co-founder & CEO, Block Armour and Mr Manish Kumar Giri, Founding Director, Inkers Technology Private Ltd. highlighting on the overall impact of AI and Ethics.

36


The program was attended by 50 persons and the feedback was positive.

37


FLAGSHIP ACTIVITIES

POST UNION BUDGET WORKSHOP A workshop on Central Budget and Finance Bill 2018-2019 was organized at Hotel Raintree following the release of the Union Budget on 1st February 2019 by the Finance Minister, Government of India. Dr.S. Narayan, IAS Retd. Former Finance Secretary, Government of India and Former Economic Advisor to PM was the Special Guest. He set the tone for the event by his insightful analysis of the macroeconomic picture of the budget which is a vote on account budget. Mr. K. Vaitheeswaran, Chairman, MCCI Expert Committee on GST & Advocate and Tax Consultant made a presentation on the Union Budget 2019-20 wherein he analyzed the impact of the budget with respect to indirect taxes and GST. Mr. Sriram Seshadri, Chairman, MCCI Expert Committee on Direct Taxes & Partner, Price Waterhouse &Co.LLP made a brisk analysis of the entire range of issues concerning Direct Taxes. The overall response to the program was positive.

38

02nd Feb 2019


CSR CONFERENCE

ON SOCIAL TRANSFORMATION

01st Mar 2019

The Chamber organized the 4th Conference on CSR on the topic â&#x20AC;&#x153;CSR for Social Transformationâ&#x20AC;? on 1st March 2019 at Hotel Raintree, Chennai.

representatives shared their feedback from the discussions they had in the round table session.

The objective of the round table and Conference was to    <=Â   {\Â&#x2030;

   <~<  { < implementation of projects in specific identified areas that lead to Social Transformation.

Ms. Juhee Krishnan, National Lead, National Digital Literary Mission, Nasscom Foundation also shared her thoughts on CSR activities related to educational sector

The Conference was organized in two parts:         <= ~  =  Â&#x2030;=    < <       ~[?\ \ = Â&#x2C6;  =  ` [} {\ Â? <\ [     Â?{   = ]  `  *<   both the Corporate and NGOs to share their experiences in their areas of work. The sessions were anchored by experts who presented the feedback from the discussions in the Conference.

Mr. Ashoke Joshi, IAS (Retd.), Former CEO, Srinivasa Services Trust on the observations made in the Educational Sector

Mr. Keshav Desiraju IAS (Retd.)Former Health Secretary shared his feedback from the representatives of the Health Sector. Mr. Nataraj Sankaran, Trustee, Help the Blind Foundation elaborated on the activities of the Blind Foundation with regard to Diversity and Inclusivity and shared the feedback from the group discussion.

In the Conference that followed, Mr. Ramkumar Ramamoorthy, President, MCCI welcomed the guests and the participants. The Chief Guest Ms. Akila Srinivasan, Managing Director, Shriram Life Insurance Co. in her address stated that the large corporates who had been in the business for decades have been involved in CSR much before the mandatory provision for CSR was made in Companies Act 2013. The new companies set up for wealth creation did not have it and started identifying and supported NGOs to fulfill their obligations under CSR. She elaborated on the projects undertaken by Shriram Life Insurance and expressed her appreciation for organizations such as Wipro, Cognizant, Tata Group, Cavin care among others and shared some of her experiences of working along with these organizations. She appreciated Sakthi Masala for having 80% of their staff who are differently abled. Ms. Akila stated that every Corporate have their focus areas when it comes to CSR and they should continue in their endeavors to reach a larger society. The next part had a Panel Discussion on the theme of the Conference moderated by Ms Rajashree Natarajan, Chairman, MCCI CSR Committee & CEO, Cognizant Foundation. The following

The Conference received a positive feedback from 100+ participants.

The Panel discussion was followed by an interaction with the participants.

39


DELEGATION

DELEGATION TO

NORTHERN IRELAND

40

23rd to 27th Sep 2018


Mr. Ramkumar Ramamoorthy, President of MCCI led a delegation to Northern Ireland, representing the IT, Manufacturing and the Logistics Sector. The Chairpersons of the respective Expert Committees of the Chamber, namely, Mr. L. Ashok, Mr. S. Sarathi, Mr. U. UdayaBhaskar Reddy and Ms. K. Saraswathi, Secretary General, MCCI were part of the Delegation to visit the ABC region. Mr. Ramkumar stated that it was a good experience and there were B2B discussions, visits to select industries and interaction with the Lord Mayor and the economic heads of the ABC Council. He added that despite being a small region, they are aggressive because of Brexit that has had a greater impact on their labor and are looking at India as a prospective nation in providing the essential skills and human resources. He stated that a few business relations were established during this visit. He appreciated their hospitality.

41


SPECIAL PROGRAM

CONFERENCE ON “CHENNAI AS THE NEXT GENERATION FINANCIAL HUB” 24th Jan 2019 The Chamber organised an important Conference on “Chennai as The Next Generation Financial Hub” on 24th January 2019 at the Tamil Nadu Global Investors Meet 2019. Mr. Ramkumar Ramamoorthy delivered the welcome address and set the tone for the Conference by making a presentation. He touched upon the advantages of Chennai and elaborated on “Why Chennai?” A short video film made by the Chamber was shown to the participants for the basic understanding of the concept and the advantages in making Chennai a Financial Hub. Senior Experts like Mr. R. Thygarajan, Founder of Shriram Group, Mr. Sreeram Iyer, COO of ANZ Bank and a few others showcased the strength of Chennai as Next Generation Financial Hub. The Conference was moderated by Mr K. Ramakrishnan, Senior MD, Strategic Relationships, Spark Capital Advisors (India) Pvt. Ltd.

The Speakers were:Mr. K. Srinivasan, COO of Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC). Mr. T. Srinivasaraghavan, MD of Sundaram Finance Ltd. Mr. Narayanan Ramaswamy, Partner of KPMG Advisory Services Pvt. Ltd. Mr. Arun Jain CMD of Intellect Design Arena Limited. Mr. P. R Seshadri, MD & CEO of Karur Vysya Bank. Ms. Uma Ratnam Krishnan, CEO of Barclays Global Service Centre. Mr. Sunil Kumar, Centre Head of World Bank Group, Chennai.

The meeting was attended by more than 150 persons and the feedback from the Government of Tamil Nadu was positive.

42


43


DOING THE HONORS

Interactive meeting with Mr. Sanjay Bhattacharya

28th May 2018

Ambassador of Egypt The Chamber jointly organized an interaction meeting with His Excellency, Mr. Sanjay Bhattacharya IFS, current Ambassador of Egypt and now an Indian Ambassadordesignate of Turkey during his visit to Chennai. The 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 handle the issues with officials in Turkey and resolve the same.

The meeting was attended and witnessed by 50 members who had a lively interaction with the Ambassador.

His Excellency, Mr. Sanjay Bhattacharya IFS, shared his experiences and the trade relations that have strengthened between India and Egypt. He added that the information and communication technology industry, pharmaceuticals and chemical Industries from India thrived in Egypt. He agreed to extend all possible support to Indian Companies in expanding their businesses in Turkey.

Interactive meeting with Mr. Jaap Werner Consul General of Netherlands The Chamber organized an interactive meeting with Mr. Jaap Werner, the new Consul General of Netherlands during his recent visit to Chennai who has also got an office located in Bengaluru. Few members of the General Committee and Expert Committees had an interaction with Mr. Jaap Werner at the Chamber premises.

44

22nd Jun 2018


Interactive meeting with Mr. Jayant Nadiger, Trade & Investment Commissioner of Flanders, Belgium

04th Sep 2018

An interactive meeting on the topic â&#x20AC;&#x153;Business Opportunities with Flanders, Belgiumâ&#x20AC;? was organized with Mr. Jayant Nadiger, Trade & Investment Commissioner of Flanders, Belgium at the Chamber. A few representatives from the member companies participated and had a lively interaction.

Interactive meeting with Mr. Ade Sukendar Consul General of Indonesia, Mumbai

17th Nov 2018

The Chamber held an interactive meeting with Mr. Ade Sukendar, Consul General of Indonesia, and Mumbai at the Chamberâ&#x20AC;&#x2122;s conference room. The Consul General of Indonesia briefed about establishing business with Indonesia and highlighted some of the emerging opportunities. He welcomed a delegation from the Chamber to Indonesia.

45


DOING THE HONORS

Interactive meeting with Mr. Nicole Girard Consul General of Canada

08th Jan 2019

The Chamber had organized an interactive meeting with the Consul General of Canada Ms. Nicole Girard on 8th January 2019 at the Chamber’s conference room. Mr. Ramkumar Ramamoorthy briefed the Consul General about the Chamber and its activities and made a presentation about the Cognizant’s presence in Canada and the scope for growth in the future. Ms. Nicole Girard updated the participants about the opportunities available in Canada and assured that she would support Indian Companies to set base in Canada.

Interactive Session on Investment Opportunities in Malaysia The Chamber organized an interactive session on Investment Opportunities in Malaysia on 22nd January 2019 at the Chamber’s Conference Room. The representatives from Malaysia included Mr. Roswaidin Mohd Zain (Consul- Investment) and Mr. Muzzafar Shah Bin Hanafi (Consul- Trade). After briefing about the Chamber and its activities, a presentation on the various opportunities available in Malaysia in sectors like Manufacturing, IT, Services, Tourism, and Infrastructure was shared by the Malaysia representatives.

46

22nd Jan 2019


Interactive meeting with H.E. Mr. Artis Bertulis,

26th Feb 2019

Ambassador of the Republic of Latvia to India The Chamber had organized an Interactive meeting with His Excellency Mr.Artis Bertulis, Ambassador of the Republic of Latvia to India, on 26th February 2019 at the MCCI Conference Room.

added that Latvia offers cost-effective logistics by sea and rail to cover long distances and the Capital Riga serves up to 7 million passengers a year. He stated that Latvia welcomes Indian Students and Film Makers.

Mr. Ramkumar Ramamoorthy welcomed the Ambassador and briefed about the Chamber activities. His Excellency Mr.Artis Bertulis, Ambassador of the Republic of Latvia to India highlighted the advantages of Latvia and requested the Indian business community to explore possibilities of investing in Latvia. He added that Latvia is a gateway to Kazakhstan and the country sees itself as a transshipment point for Indiaâ&#x20AC;&#x2122;s trade. He also

Interactive meeting with His Excellency Mr. Yogesh Punja,

13th Feb 2019

High Commissioner of the Republic of Fiji to India The Chamber organized an interactive session with His Excellency Mr. Yogesh Punja, High Commissioner of the Republic of Fiji during his visit to Chennai on 13th February 2019. The objective was to explore the Trade and Investment Opportunities between India and FIJI. His Excellency Mr. Yogesh Punja, High Commissioner of the Republic of Fiji addressed the participants on the various positive features of Fiji and elaborated on the numerous incentives offered by Fiji for investors. A few videos on Fiji, their lifestyle, the opportunities available were shown to the participants. His Excellency Mr. Yogesh Punja answered a few queries and agreed to support those who were willing to set up businesses in Fiji. The participants who were more than 40 in number gave a positive feedback.

47


FFT

FFT on Man vs Machine The Chamber organized the FFT on Man vs Machine at Hotel Raintree Anna Salai, Chennai. Mr. J. Raghunathan, Chairman, IT/ITes Committee welcomed the speakers and set the tone for the FFT. Mr. Francois Bernot, a French National and the Director of Francecol Technology who has a collaboration with Vel Tech University spoke in favour of ‘Man’ on the above topic. He elaborated his experience in India and shared his views on the civilisation, the different cultures followed and the functioning of a human. He added that even though the machine is stronger and efficient, and eliminates hard work and supports production in a manufacturing unit by reducing the cost, it is the man’s brain that is more important and the machines can only be in the control of man. He concluded that machines cannot replace man as man is a unique creation. Mr. Sandeep Darr in his address to the participants narrated a few examples about his experience and also elaborated on how the laborious task of segregating the supplies for delivery in huge warehouses were undertaken by machines. He added that even in the manufacturing sector, the machines have taken over a few tasks in the last 10 years. Similarly, the services sector is also facing the impact of automation. Though the human element cannot be totally done away with, he stated that there is

48

28th June 2018

definitely a reduction in employment. He narrated a few more examples and concluded on a positive note that when machines take over some of our tasks, there would be lots of time for us to pursue our talents and hobbies such as playing music, singing among others, which would lead to a cultural renaissance and the world would become a peaceful place to live. Mr. Vittal Raj, Partner of Kumar and Raj and a General Committee of the Chamber shared his perceptions on the above topic. He stated that though we do not want our brain to be hooked on to Google we have to accept the reality that technology has transformed our thinking. He added that it is mind boggling to imagine how much of our thinking is captured by the technology and how our world is being taken over Facebook, WhatsApp and Smartphones. He narrated his own experience of doing calculations manually instead of calculators, whereas we cannot imagine a world without gadgets now. With Sophia, a humanoid participating in World Congress in Hyderabad, in a decade from today, we might not know whether the person sitting next to us is a human or humanoid, he mused. He concluded by stating that the message is very clear that we men have to exploit the power of technology to do more mundane activities and appreciate the relevance of human thinking and find the meaning of ourselves. He reiterated Mr. Sandeep Darr’s words “Let’s start the music”.


INSPIRE TO INNOVATE

Visit to

22nd

Hanon Systems

Jun 2018

The Chamber arranged an exposure visit

^_ !``{ `|}~ Â?  = [ \ <<       <   #'Â&#x2019;Â&#x201C;  one of the global leaders in specialization of automotive thermal and energy management solutions. The Company supplies full line of products and systems for automotive thermal applications including heating ventilation, air conditioning, power train cooling, compressors and thermal & emissions solutions for conventional electric, hybrid, fuel cell and autonomous vehicles.

Visit to

IP Rings Ltd. The Chamber arranged an exposure visit to IP Rings Ltd. on 16th Nov 2018 IP Rings is a front line automotive components manufacturer, specializing in the production of piston rings in high carbon, high alloy steels and nodular iron with a variety of surface coatings that find application in present day high performance low emission engines. IP Rings came into being in the year 1991 as a joint venture promoted by India Pistons Ltd, Simpson & Company Limited, Tractor and Farm Equipment Ltd. and Amalgamations Private Ltd in Technical and Financial collaboration with Nippon Piston Ring Co. Ltd of Japan, a world leader in the manufacture of piston rings.

This visit was arranged to have a firsthand knowledge of the good practices that are followed in manufacturing the line and other techniques used in production. A presentation was made about Hanon followed by a guided tour of their facilities and interaction with the participants. The lunch for the participants was hosted by Hanon. The 22 participants from various member companies gave a positive feedback.

16th Nov 2018

A presentation was made about IP Rings Ltd. by the host. After the presentation, there was a guided tour of their facilities followed by an interaction session with the participants. The IP Rings hosted lunch for the participants. The fourteen participants from various member companies gave a positive feedback.

This visit was arranged to have a firsthand knowledge of the good practices followed in manufacturing line and other techniques used in production.

49


SUSTAINABLE CHENNAI FORUM

SUSTAINABLE CHENNAI FORUM TamilNadu Plastic Ban:

MCCI & IIT Joint Workshop 5

TH

JUL 2018

A Solutions Mapping Meeting (MCCI Jointly with Paper man & US consulate, Chennai) th

11 Sep 2018

Fields of View, Okapi, and CUBE – IIT Madras, with support of the Madras Chamber of Commerce and Industry, conducted a workshop with industry representatives in connection with the ongoing project

“A Platform for Integrated Water Governance in Metropolitan Chennai: Developing Future Scenarios and Strategies through Participatory Simulations”

The purpose of this workshop was to:

On 11th September 2018, 45 stakeholders whose lives have a direct or indirect impact on the implementation of Tamil Nadu Plastic Ban met up at the Taj Coromandel in Chennai. The session’s objective was to encourage every stakeholder to share their perspectives about the ‘ban’ and map the challenges and the solutions that arise from them through a shared learning process.

a) Understand governance challenges and problems around land use, water governance, and waste management issues, as defined by the industry representatives

The participants were a mix of plastic manufacturing industry professionals, Government officials, recycling industry, civil society leaders, academicians, researchers and businessmen and women.

b) Analyze causalities, map the factors influencing the problem, and brainstorm plausible interventions to address the problem. The participants in this workshop were from several organizations.

The World café conversation methodology was adopted to do the exercises. The context was set where the participants were given the task to think about threebroad questions in regard to the plastic ban.

The workshop was divided into five sessions with group members working together through each session.

1. What are the key challenges you envision that will arise during the implementation of the ban?

The objective of this workshop with representatives from industry, was to identify and understand from their perspective on critical and priority areas that the industries and the Corporate viewed as requiring attention / intervention. The information collected at this workshop will be useful in validating the ongoing scenario development exercise for the above-mentioned project.

2. What could be the reasons for these challenges?

50

3. What might be the solutions to these challenges and the reasons associated with it? The table facilitators shared their consolidated report from the tables to the entire audience after three rounds.


Roadmap to Zero Waste in Chennai The Chamber launched the Sustainable Chennai Forum in 2011. The objective of the forum is to promote a business case for sustainable development and for evolving a congenial policy and action oriented environment for the all-round sustainable development of the Chennai Metropolitan Region in collaboration with like-minded institutions. The Focus is on areas like Energy, Water, Waste Management and Transport. The First Urban Thinkers Campus was hosted in Chennai on the topic “Chennai as a Global City” in November 2017. The Second Urban Thinkers Campus hosted by MCCI in 2018 was organized with the theme “Roadmap to Zero Waste in Chennai” on 9th and 10th November 2018 coinciding with the 7th Anniversary of the Sustainable Chennai Forum. The campus started with an Inaugural Plenary followed by

9th & 10 th Nov 2018

four urban thinker and lab sessions and concluded with a valedictory plenary. The sponsors for this program include Cognizant Technology Solutions India Pvt. Ltd. & M/s VA Tech Wabag Ltd who were the Platinum sponsors and M/s Sri City Pvt. Ltd., & Tamil Nadu Pollution Control Board as Diamond Sponsors and Chemplast Sanmar Ltd. was the Gold Sponsor. In the Inaugural Session, Mr. Ramkumar, President of MCCI gave the welcome address and briefed about the activities of the Sustainable Chennai Forum. Mr. Anand Iyer, Chief Project Manager of National Institute of Urban Affairs, New Delhi gave a briefing on the theme of the Conference. The Chief Guest, Mr. P. Madhusudhan Reddy, IAS, Deputy Commissioner, Health, Greater Chennai Corporation, briefed about the various measures adopted by the Government for waste management and urged the participants to extend their cooperation. He was appreciative of the Chamber’s efforts to bring about the awareness on better waste management. Ms. K. Saraswathi, Secretary General proposed the vote of thanks.

51


SUSTAINABLE CHENNAI FORUM

Considering all the waste streams and the current waste management need in Chennai, the sessions for the Urban Thinkers Campus were as follows:

TECHNICAL SESSION â&#x20AC;&#x201C; 1 Chennaiâ&#x20AC;&#x2122;s Waste Management Scenario The idea of this session was to set up the baseline in the waste context in the City of Chennai. The topics of discussion centered around the current waste generation in terms of municipal waste, industrial waste and sewage, the collection, treatment and disposal

Dr. Shyamala Mani Team Leader, SBM, National Institute of Urban Affairs, New Delhi Urban Labs Indore Municipal Waste Management Zero Liquid Discharge

The topics in this session included Overview of Chennaiâ&#x20AC;&#x2122;s Municipal Solid Waste Management Public Waste Recycling Industrial Waste Scenario   

   

  

Chennai and Swachh Bharat The Speakers were Mr. Raghuttama Rao (Moderator) Gopalakrishnan Deshpande Center for Innovation and Entrepreneurship (GDC)-IITM Chennaiâ&#x20AC;? Ms. D Vijula Executive Engineer, (Solid Waste Management) Greater Chennai Corporation Mr. V.S. Venkatesan Senior General Manager, RamkyEnviro Engineers Ltd Mr. N. Ramadoss CEO - Quality Business Systems Mr. S. Varadarajan ]  `~< <Â&#x2030; \ VA Tech Wabag Limited

52

Mr. Rohan Saxena Addl. Municipal Commissioner Indore Municipal corporation Mr. G. Sankara subramanian Senior VicePresident â&#x20AC;&#x201C; Operations Chemplast Sanmar Limited

TECHNICAL SESSION - II Circular Economy in different Waste Streams The topics in this session included Circular Economy in Smart Cities Plastic Waste E-Waste Construction & Demolition Waste Bio-medical Waste The Speakers were Mr. S. Venkatachalam (Moderator) Managing Director, Orient Green power Co. Ltd. Mr. Shankar Arumugham National Director, Strategic Consulting, JLL India


Mr. Mathew Jose Founder & CEO, Paperman

The Speakers were

Dr. M.P. Rajasekharan Brand Ambassador, Virogreen India Pvt Ltd

Mr. RajendraRatnoo, IAS Commissioner of Disaster Management Revenue Administration, Disaster Management and Mitigation

Prof K.N. Satyanarayana Director, IIT Tirupati

Mr. Kowshik Ganesh, Senior Consultant, Athena Infonomics

Dr. S. Sankar Professor & Head Department of Environmental Health Engineering Sri Ramachandra Institute of Higher Education and Research

Mr. K. Baskaran Chairman, Industrial Waste Management Association

Urban Labs Waste Plastic to Fuel Wealth out of Waste Ms. Vidya Amarnath Paterson Energy Pvt. Ltd. Mr. Harish Babu Program Manager, CSR In-charge Tamil Nadu ITC Ltd.

TECHNICAL SESSION - III Moving towards a Swachh Chennai The topics included Plastic Free Chennai Creating liveable and clean cities Hazardous Waste Disposal Pathways for Industries Improving Capacities for SWM Unlocking Chennaiâ&#x20AC;&#x2122;s Waste water potential

Dr. KarthikeyanKathiresan Ex CEO, and Member Secretary - TNPCB Mr. Ashok Natrajan CEO, Tamil Nadu Water Investment Company chennai Urban Labs Zero Waste Management Initiatives in Sri city Starting from Swachh Homes Dr. P Venkateswaran Dy. General Manager, Sri City (P) Ltd. Ms. Sabina Narayan Harrington Road Association

TECHNICAL SESSION - IV Policy towards Waste Management in Chennai The topics included Behaviour Change / Decentralised solutions

53


SUSTAINABLE CHENNAI FORUM

Improving Role of Informal Sector Privatizing Waste Management. EPR for Plastic & E-Waste The Speakers were Dr. G Sundaram IAS., (Retd.) (Moderator) Dr. Asha Panwar Researcher, IITM Mr. Arun Krishnamurthy Founder, Environmentalists Foundation of India, Chennai Mr. Siddarth Hande Founder, Kabaddiwala Connect Mr. Joseph Founder & CEO, Kuppaithoti.com Dr. Sai Prasad [ Â&#x2030; \ Tamil Nadu Pollution Control Board Urban Labs Plastic Ban experiences         

Ms. Kripa Ramachandran Researcher, Citizen Consumer and Civic Action Group Mr Vaibhav Dutt Researcher, Fields of View

These imperatives formed the themes of the Urban Thinkers campus- Chennai. The campus spread across two days on 9th and 10th November and started with an Inaugural Plenary session with research, government, academia and industry setting the tone on the objectives of the campus. Each session was presented by eminent speakers who discussed topics of their expertise in relation to the existing scenario in Chennai. Urban Labs were conducted, showcasing good practices which could be adopted in Chennai. Each session ended with an interactive and constructive dialogue with the participants, on the priority issues and the probable outcome.

Ms. K. Saraswathi summed up the proceedings in her presentation to the participants.

A plenary session, summing up and collating the key issues and outcomes was conducted where in participants discussed and concurred on the issues and outcomes. The campus concluded with a Valedictory Plenary session, which was presided and supported in executing the recommendations.

Ms. K. Saraswathi proposed the vote of thanks.

There were approximately 150 participants representing Industries, Corporate, Government, Corporation, NGOs and <  }< \  Â&#x201D;"<{<   }  and panellists representing, many national and international organisations. The proceedings and deliberations of the campus were covered through our media partners and were able to reach out to the citizens with news items published in the local newspapers.

54

In the valedictory Session, the Chief Guest Ms. Santha Sheila Nair, IAS Retd. addressed the participants. She narrated her experiences while implementing the Rain Water Harvesting System and stated that this waste management should be part of the Governmentâ&#x20AC;&#x2122;s priority and should be done similar to Rain water harvesting in order to make it a successful venture. She lauded the Chamber for its efforts to conduct such Conferences which add value to the society at large.


06th Dec 2018

Round table on Circular Economy The first roundtable held in February 2018, provided a much    <  =~  Â&#x2C6;  \ benefits, challenges and the capacity development needs. Carrying it forward, it was realized that it is essential to provide a platform for all stakeholders to get involved to address environmental sustainability and introduce circular    * < = 

   competitiveness, employment generation, increase in green investment flows, partnership development and help in establishing a transparent and inclusive governance. With this premise, the second round table session with a focus on Integrated Waste Management was organized by the Chamber jointly with Ekonnect Knowledge Foundation Mumbai. A pre-read on a few key topics was distributed to the participants prior to the round table.

Water todayâ&#x20AC;&#x2122;s Water Expo Water Today Pvt. Ltd. organized the 13th edition of Water Expo at Chennai Trade Centre, Chennai for 3 days from 21st Feb to 23rd Feb 2018. The Chamber, which has been one of the supporting organizations in the earlier editions of the Water Expo in

The round table provided an opportunity to introduce the concept of Circular Economy, the canvas and opportunities in integrated waste management. The roundtable also initiated an open deliberation to get inputs from participants towards understanding the best probable solution in areas of: Technologies for waste segregation/sorting of dry waste for recycling Decentralized waste processing facilities for compost   Waste recycling and recovery industry (Bio-CNG as clean fuel for transportation, C&D waste recycling, E-waste business)   ! " #  

 Urban Mining More than 20 participants supported the session with their positive feedback.

21st to 23rd Feb 2019

Chennai and also being apart of its Sustainable Chennai Forum (SCF) activities extended its support for this edition as well. A stall was set up to showcase the Chamberâ&#x20AC;&#x2122;s activities of the SCF and this provided a platform to create an awareness about the activities of SCF to the participants of the water expo.

55


TOGETHER WE GROW

Celebrating Entrepreneurship in our Commonwealth

11th Apr 2018

Towards a common future â&#x20AC;&#x201C; Spotlight on Women â&#x20AC;&#x201C; Leave no one behind â&#x20AC;&#x201C; Jointly with BDHC In association with the British Deputy High Commission, The Madras Chamber of Commerce & Industry held a Commonwealth Women/Entrepreneurs event in Chennai on 11 April 2018, just ahead of the Commonwealth Heads of Government Meeting (CHOGM) held in London and Windsor at British Deputy High Commission. This event was one of the series to celebrate Commonwealth and CHOGM and encourage trade and investment in India. This event also highlighted a womenâ&#x20AC;&#x2122;s positivity in political, economic and societal contributions and to establish how women and girls would be instrumental in building sustainable and resilient societies. A panel of leading entrepreneurs and women achievers discussed entrepreneurship, womenâ&#x20AC;&#x2122;s rights, empowerment and learning with the young, lively audience which included entrepreneurs/achievers and multipliers.

Mr Bharat Joshi, British Deputy High Commissioner delivered opening remarks. Dr Soundarya Rajesh, Founder President of Avtar Group and a Chevening Gurukul Scholar. Ms Aishwarya Manivannan, Designer, Artist, Educator and Silambam artist. Mr Mahesh Ramachandran, Co-Founder & Managing Director, ~

  <=    < [  Â  `   { Council Member, TiE Chennai. Ms Madhavi Latha, Associate Vice President of Scope International & President of Wheelchair Basketball Federation of India. Ms Subashini Vanangamudi, Managing Director of Satori Creatives LLP and Executive Director, GMC Apex.

Solar Roofs, Chennai Series The Chamber was a supporting partner to Solar Quarter, which organized the Solar Roofs, Tamil Nadu on 7th June at Hotel Ambassador Pallava, Chennai. This is part of the series of workshops that were held by Solar Quarter in various cities in India to spread awareness about the benefits of solar roof top systems and to increase the installation in industrial, commercial and residential segments.

56

07th Jun 2018

Mr. P. B. Varadharajan, Co Chairman of the MCCI Expert Committee on Energy including Renewable Energy and also the President of Renewable Energy Harvesting Environment Network Association (REHENA) addressed the gathering on behalf of the Chamber.


Knowledge Session on Scaling Up 23rd Aug 2018 Businesses in Tamil Nadu The Chamber and Yes Bank joined hands to organise a Knowledge Session on â&#x20AC;&#x153;Scaling up Businesses /!#Â&#x20AC; Â _ ^ #%/% _`Â&#x201A;+ 2  `|}~ The â&#x20AC;&#x2DC;Scale-upâ&#x20AC;&#x2122; Knowledge Series is designed to equip SMEs with information about resource planning and management of challenges associated with scaling up, more so, in the context of the transformational shifts taking place in global commerce due to rapid changes in technology and a dynamic geo-political and regulatory environment. Mr. Ramkumar Ramamoorthy, President, MCCI welcomed the speakers and the participants. Mr. R. Ravichander, Regional Director, Yes Bank, in his address recommended the adoption of Technology as main growth mantra for MSMEs. Expanding on his Mantra he elaborated on the 4 Câ&#x20AC;&#x2122;s: -

about Ideation & innovation vouchers which if administered well is a welcome step. Mr. S. Seetharaman, Chairman Super Auto Forge Pvt. Ltd., Special Guest elaborated about the growth of Super Auto Forge Pvt Ltd., and stated that scaling up production is essential for MSMEs to bring down the cost of production and to be sustainable in the long run. He sensitized the audience about â&#x20AC;&#x153;Defenceâ&#x20AC;? being a sector with good growth possibilities. The Chief Guest felicitated a few MSMEâ&#x20AC;&#x2122;s for their achievement. This was followed by a Panel Discussion moderated by Mr. Raghavan Srinvasan, Editor, The Hindu, Business line. The panellists included Mr. Kaushik Palicha, Director, Ramcharan Co. Pvt. Ltd., Dr. S. V. Veeramani , Chairman & MD, Fourrts (India) Labs Pvt. Ltd. Mr. Arihant Parakh, Director, National Group of Companies, Mr. V. Thirumaran , Managing Director, Metco Roof Pvt Ltd., Mr. K. Vaitheeswaran, Advocate & Tax Consultant and Mr. L. Ashok, Managing Director, Futurenet Technologies India Pvt. Ltd. The crux of the discussion was that information was lacking about various government schemes including major initiatives like single window clearance and Tamil Nadu Business Facilitation Act.

Create-Communicate-Compete-Collaborate This was to enable enable SMEs to find a footing in the {   * Â?  < = {{  <       clusters to enjoy the advantages and benefits of clusters. The Chief Guest, Mr. Dharmendra Pratap Yadav, IAS, Secretary, MSME in his address stated that policy measures such as Business Facilitations Act and single window clearance has empowered the MSMEs from mere beneficiaries to a questioning authority. He added that Government would provide up to Rs.10 crore for infrastructure support for Industrialists who are willing to set up factories at Industrial Estates. He also mentioned

57


TOGETHER WE GROW

Seminar on Ocean Wealth Potential & Opportunities for Sustainable Blue Economy A seminar and discussion on “Ocean Wealth – Potential & Opportunities for Sustainable Blue Economy” was organized jointly by Anna University, The Madras Chamber of Commerce & Industry (MCCI) and Waterfalls Institute of Technology Transfer (WITT) on Friday, August 10, 2018. Ms. K. Saraswathi, Secretary-General, MCCI welcomed all the speakers and participants to the seminar Mr. P. V. Jaishankar, Chairman, WITT provided an overview of WITT’s past initiatives at New Delhi & Chennai. Dr. M. K. Surappa, Vice Chancellor, Anna University and the Chief Guest for the event delivered the inaugural address. He felt that an Ocean-based Blue Economy offered tremendous opportunities in India and said that the seminar would provide a forum for a wide range of discussions across industry and research Dr. Harsh Gupta, former Secretary in the Dept of Ocean Development, Govt. of India highlighted that tremendous progress had been achieved in India on Ocean-related initiatives during the last 35+ years. Dr. K.V. Swaminathan, Founder-Chairman, Waterfalls Institute of Technology Transfer and former Advisor, Ministry of Science and Technology, Government of India, provided an overview of Ocean Wealth Potential in the Indian context. Dr. M. A. Atmanand, Director, National Institute of Ocean Technology shared his knowledge of Technology in Blue Economy and its Status in India Mr. Pradipta Mishra, Group General Manager, ONGC, spoke on the subject of Offshore Oil Exploration – The Major Economic Component of Ocean Wealth today.

58

10th Aug 2018

Prof. S. Srinivasalu, Director, Institute of Ocean Management, Anna University, spoke on Coastal Management & Ensuring Sustainable Blue Economy. Mr. K. Syed Amir Basha, Chief Technology Officer at VA WABAG Tech and Head of Operations at the Nemmeli desalination plant, shared his experience and knowledge on a topic dear to most Chennai hearts, viz. “Oceans – An abundant source for De-salinized Drinking Water”. Dr. M.V. Ramana Murthy, Director, National Centre for Coastal Research, spoke on the subject of Scalable, Costefficient Technologies for Ocean Energy and De-salinized water. Mr. J Krishnan, Partner – Natesa Iyer and Co, in his talk labelled so appropriately as “The Bountiful Kingdom of Poseidon”, spoke of the enormous opportunities afforded by the oceans in India. Prof. S. A. Sannasiraj, Head of the Dept of Ocean Engineering at IIT Madras, spoke on Ocean Energy Potential, Assessment & Challenges in India, with particular focus on Tidal Energy and Wave Energy. Prof. C K Subramanian, School of Advanced Sciences, VIT University, Vellore, provided a perspective on another Ocean-based energy option through his talk on “Potential Generation using Salinity Gradients”, technology development, maturity and efficiency.


Wellness Awareness Session on â&#x20AC;&#x153;Heart Diseasesâ&#x20AC;? jointly with

Dr. Reddy Foundation

A wellness awareness session on Heart diseases was organized in the Conference room of the Chamber jointly with Dr. Reddy Foundation on 26th September 2018.

26th Sep 2018

Dr. Asha Mahilmaran, Cardiologist, Apollo Hospitals made         =    < < "Â&#x2022; participants. The feedback for this program was positive.

Workshop - Italian Excellence in Engineering and Construction for Indian Infrastructure jointly with

29th Nov 2018

Indo Italian Chamber of Commerce & Industry The Chamber hosted this workshop organized by the Indo Italian Chamber of Commerce & Industry on 29th November 2018 at the Chamberâ&#x20AC;&#x2122;s Conference room. Mr. Sauro Mezzetti, Chairman, Southern Region- Chennai of The Indo Italian Chamber of Commerce welcomed the speakers and the participants. Ms. Stefania Costanza, Consul General, Consulate General of Italy in Mumbai and Mr. CesareSaccani, President, The Indo Italian Chamber of Commerce addressed the participants and interactedwith them before the commencement of the Technical Sessions.

Chamber of Commerce and Industry gave an introduction about the presentations in the technical sessions. In the Technical Session presided over by Mr. Prabir Bhattacharya, Editor, Civil Engineering & Construction Review, a presentation was made on the â&#x20AC;&#x153;The Indian Market Scenario â&#x20AC;&#x201C; Present Needs and Projects in the Indian Infrastructure and Construction Industry by Mr. Rajeev Narayan Dwivedi, Director (Project & Planning), Chennai Metrorail Corporation (CMRL) and Mr. S. Satheesh ME, Joint Director â&#x20AC;&#x201C; Planning & Mr. - R Selvadurai, ME, Superintending Engineer â&#x20AC;&#x201C; Highways & Metro Department, Government of Tamil Nadu. This was followed by the presentation by â&#x20AC;&#x153;The Italian Offer of Advanced Technologies in the Engineering and Machinery Segment by a few Italian companies. The workshop was attended by 30 participants.

Mr. Amar Josh, Deputy Secretary General of the Indo Italian

International Conference on Innovative Metamorphosis

59


TOGETHER WE GROW

International Conference on Innovative Metamorphosis An elixir for organizational excellence The Chamber jointly with the Ethiraj College for Women, PG and Research Department of Commerce organized a Two day Conference on the topic Innovative Metamorphosis:- An elixir for organizational excellence on 9th and 10th January 2019 at the Ethiraj College Auditorium The International Conference was inaugurated by His Excellency, Hon’ble Governor of Tamil Nadu, Shri. Banwarilal Purohit. He shared his thoughts on the theme, role of today’s youth in shaping the future, importance of service to society and the Government’s support systems and achievements in this regard. Mr. Ramkumar Ramamoorthy, President, MCCI delivered the keynote address. What innovation means and should mean was edified from a professional’s lens. The Technical Session “Crossing the Conventional Chasm” on marketing innovation was addressed by Mrs. Sreelakshmi Menon, Director - Marketing and Communications - Kone Elevators and Escalators - Asia Pacific. Mr. R. Vittal Raj, Senior Partner, Kumar and Raj Chartered Accountants firm addressed on the topic “Quintessential of Innovation”, by drawing parallels from Indian History and Heritage. He elaborated on a list of bizarre Innovations like 7 flavor cookies, drone taxis, self-driven cars, genetic fortune telling etc. He also touched upon robotics, Artificial Intelligence, block chain, smart cities and cloud computing in his address which was well received by the participants. The Session strategic innovation by Dr. Suresh Gopalan (Professor of management, Winston - Salem State University) revolved around the realms of competition landscape, strategy conceptualization, business environment, innovative disruptors (IT, Artificial Intelligence, Data Analytics) and new entrants.

60

09th & 10th Jan 2019

On Day 2 Mr. K. Ramakrishnan, Senior MD, Strategic Relationships, Spark Capital Advisors India Pvt. Ltd., addressed the participants on the topic “Innovation in Finance” - Recent trends in financial services. He questioned them on the basics of finance and elaborated on the importance of innovation in finance. Further, he updated them on the various options available for them to explore as entrepreneurs on the financial services. Mr. Muthukumar Thanu, Chief Group HR officer, TAFE Ltd. spoke about innovation from the HR perceptive. Mr. N Sridhar, Dean of Business School delineated the significance of metamorphosis in the education system from pedagogy of teaching to innovation in learning. Dr. Rama D, Professor, Florida International University in her address, stressed that defining and redefining success is a continuous process across career stages of any exuberant individual. Mr. Mahimm Gupta, MD, PP Merchandising Pvt. Ltd spoke about how innovation helps in upliftment of the business, along with techniques to improve rapport between customers and retailers. Mr. Srivats Ram, Managing Director of Wheels India Ltd. and Vice President MCCI shared his thoughts and experiences on the above topic “innovation” in the valedictory session and distributed certificates for winners of the paper presentation.

The feedback from the 200 + participants was very positive.


Seminar on Healthcare today & tomorrow - Creating a Sustainable

02nd Mar 2019

Medical Leadership Padma Vibhushan Dr V. Shanta, Chairperson, Cancer Institute (WIA), Adyar was felicitated and honoured by the Madras Chamber of Commerce & Industry and WITT during an #  _!_Â&#x192;_^#  Â&#x201E;/ & Tomorrow- Creating a Sustainable Enterprise with Medical Leadershipâ&#x20AC;? organised at Hotel Crowne Plaza, TTK Road Chennai on 2nd March 2019 for her yeoman service to mankind. Mr. Ramkumar Ramamoorthy, President of The Madras Chamber of Commerce & Industry, while delivering the Presidential address stated â&#x20AC;&#x153;While itâ&#x20AC;&#x2122;s good to look at revenue and employment numbers, itâ&#x20AC;&#x2122;s equally important  = Â&#x2013;~?Â&#x2C6;Â&#x2014;=  }   < < \     Â&#x2DC; \ accessibility, availability and affordability of healthcare. And we have a long way to go to be happy with the impact numbersâ&#x20AC;?. He concluded his address by stating â&#x20AC;&#x153;With technology playing an unbelievably important role, I believe Tamil Nadu has a once-in-a-lifetime-opportunity to become << < Â&#x2039; =Â? <=<Â&#x152;  <  \  perhaps of the worldâ&#x20AC;? = Mr. P.V. Jaishankar, Chairman, WITT gave an introduction about the program. Dr V. Shanta in her special address detailed her Six Decade Journey with Cancer Institute (WIA) and highlighted on

the challenges she had faced and how the Institute has reached this position. The Keynote Speaker Padma Shri, Dr Sneh Bhargava, Â&#x2020;  ]  \[\]<=   <  â&#x20AC;&#x153;Where did we go wrong? She elaborated on the current status of health care in the country context of the 5Ms, Men, Machine, Money, Medicines and Management. = <=[  =< <  [ <     and representatives from reputed Hospitals sharing the perspectives on the changing role of healthcare professionals and steering for excellence, developing medical leadership, advantage Tamil Nadu â&#x20AC;&#x201C; a growing centre for International Patients.

The Eminent speakers were Mr. D S Negi, CEO, Rajiv Gandhi Cancer Hospital & Research Centre, New Delhi & Former Principal Secretary- Health, Govt. of New Delhi Dr. S. Manivannan, Joint Managing Director, Kauvery Hospitals Dr. Pramod Bhende, Director â&#x20AC;&#x201C; Vitreo-Retina Services, Sankara Nethralaya Mr. Ganesh Chella, Managing Director, Coaching Foundation of India Mr. M Sathyamoorthy, Head â&#x20AC;&#x201C; Finance & Accounts, MIOT Hospitals

61


TOGETHER WE GROW

The session was followed by a Panel discussion on â&#x20AC;&#x153;The expanding boundaries of Healthcareâ&#x20AC;? moderated by Dr.K.V.Swaminathan, Founder-Chairman, WITT, Former Addl. Secretary, DST, GoI Member of Governing Council â&#x20AC;&#x201C; Sitaram Bhartia Hospital & Rajiv Gandhi Cancer Institute.

Eminent speakers were Dr Sneh Bhargava,Former Director, AIIMS, New Delhi Dr. Ajit Mullasari. S Director-Cardiology,Madras Medical Mission Hospital Dr. Hema Tharoor, Senior Consultant Psychiatrist,Apollo Spectra Hospitals & SCARF The program was attended by 70+ participants.

Commodity Conclave 2019 The Chamber in association with MCX powered by Business Line organized a Commodity Conclave on 12th March 2019 at Accord Metropolitan. Mr. S. Muralishankar, MD, Super Auto Forge was the key note speaker. There was a panel discussion on the topic Â&#x2013; ~   =    ^<   { for users.

62

12th Mar 2019


Expert Committees FOR THE YEAR 2018-19 Name of the

COMMITTEE

CHAIRMEN

CO-CHAIRMEN Mr. S. Sridhar Senior General Manager (Treasury) Sundaram Finance Ltd.

BANKING, FINANCE & INSURANCE COMPANY LAW/CORPORATE MATTERS

Dr. B. Ravi Managing Partner B Ravi & Associates

Mr. V.V. Naresh Vice President – Company Secretary & Compliance Officer Intellect Design Arena Ltd.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Ms. Rajashree Natarajan Chief Operating Officer Cognizant Foundation

Dr. Vidya Durai Director – Philanthropy & CSR BNY Mellon Technology India Pvt.Ltd.

DIRECT TAXES

Mr. Sriram Seshadri Partner Price Waterhouse & Co.LLP

Mr. P.V. Sriram Sr.General Manager (Taxation) Sanmar Group

ECONOMIC AFFAIRS

Mr. Rajan Ekambaram Partner Ernst & Young LLP

Mr. V. Balasubramanian Vice President – Corporate Communication The India Cements Ltd.

EDUCATION & SKILL

Prof. N. Sridhar Adjunct Professor – Finance Great Lakes Institute of Management

Dr. Nirmala Prasad Former Principal, MOP Vaishav College for Women & Director, Caplin Point Laboratories Ltd.

ENERGY INCLUDING RENEWABLE ENERGY

Mr. S. Venkatachalam Managing Director Orient Green Power Co.Ltd.

GST

Mr. K. Vaitheeswaran Advocate &Tax Consultant K.Vaitheeswaran & Co.,

Mr. K. K. Sekar Head -Indirect Taxes Ashok Leyland Ltd.

HR & IR

Mr. Anand Gopalan Partner TS Gopalan & Co.,

Prof. N. Sridhar Adjunct Professor – Finance Great Lakes Institute of Management

IT/ITES

Mr. L. Ashok Managing Director Futurenet Technologies India Pvt.Ltd.

Dr. K. Rama Subramanian Director & CEO Valiant Technologies Pvt.Ltd.

LEGAL AFFAIRS

Mr. Anand Gopalan Legal Affairs TS Gopalan & Co.,

Mr. C. Mukundan Sr.Vice President – Legal & Taxation Sundaram Calyton Ltd.

LOGISTICS

Mr. U. Udayabhaskar Wholetime Director Sanco Trans Ltd.

MANUFACTURING

Mr. S. Sarathi Joint Managing Director, Mando Automotive India Pvt.Ltd. Anand Group

Reddy

Mr. P.B. Varadarajan President Renewable Energy Harvesting Environment Network Association (REHENA)

Mr. V. Anand Sr.General Manager, Sales Logistics / Sales & Marketing Divn., Hyndai Motor India Ltd. Mr. L. Prabhu Plant Director Hanon Systems Pvt.Ltd.

63


Company Law / Corporate Matters

EXPERT COMMITTEES

Discussion on

UdayKotak Committee Recommendations

28th Apr 2018

on Corporate Governance The UdayKotak Committee Recommendations on Corporate Governance were submitted in 2017 and SEBI considered the Recommendations during the Board Meeting held in March 2018. SEBI accepted several recommendations without any !  '#!'

" ' !  _ The Company Law/Corporate Matters Committee of the Chamber discussed the report and sent the suggestions about the same to SEBI. Further, the Chamber had an opportunity to interact with Mr. Pradeep Ramakrishnan, Deputy General Manager, SEBI on 28th April 2018 at the Chamber. He was also a part of the UdayKotak Committee. The participants had a freewheeling discussion with Mr. Pradeep Ramakrishnan. He updated the members about the recommendations that were accepted and the details of when it would be operational and some of the reasons for not considering certain recommendations.

Session on IND

AS

The Chamber under the auspices of the Company Law Committee organized a Session on IND AS. The objective was to understand the changes in the financial reporting landscape, implications and the various procedures as per IND AS 115. Ms. Bhavani Balasubramanian, Partner, Deloitte Haskins & Sells gave an introduction and overview to IND AS.

64

30th Jun 2018 The Technical Sessions were handled by Mr. Sundar V Iyer- Partner, Assurance & Audit Advisory, Deloitte and Ms. Ananthi Amarnath, Partner in the Audit and Assurance Practice from Deloitte. It was followed by a vibrant interactive session.


Q & A Session on Companies ACT 2013 / Amendments introduced through Ordinance & proposed amendments

07th Dec 2018

to the Companies Act Under the auspices of the Company Law Committee of the Chamber, a half- day Q & A Session on Companies Act 2013, Ordinance and Proposed Amendments to the Companies Act 2013 was organized on 7th December 2018 at E hotel, Chennai.

Mr. P. Viswanathan, Immediate Past Chairman, Company Law committee & Company Secretary, Sundaram Finance Ltd. Ms. B .Chandra, Practicing Company Secretary & Member of the Company Law Committee A presentation with 50+ questions and answers were presented to the 60 participants to understand the various provisions of the Company Law and the feedback was positive.

The objective of the session was to provide a platform to have an open interaction with the panel members and understand the various provisions through a full-fledged Q & A Session on Companies Act 2013 / amendment introduced through ordinance and proposed amendments to the Companies Act 2013.

The panel members were:Dr. B. Ravi, Chairman, MCCI Expert Committee on Company Law/ Corporate Matters & Practicing Company Secretary & Managing Partner, B. Ravi & Associates â&#x20AC;&#x201C; Moderator of the Panel discussion Mr. K. Vaitheeswaran, Member, Company Law Committee and Advocate & Tax Consultant

65


EXPERT COMMITTEES

Two Day workshop on

Basics on Companies Act 2013 The Chamber organized a Two Day Workshop on Companies Act 2013 for the Commerce Department of the Asan Memorial College of Arts and Science.

1st & 2nd Feb 2019

The aim of this workshop was to equip the students with the latest amendments and updates on the Companies Act 2013 and to enhance their knowledge. Mr. S. Ramanathan, Principal of the College delivered the welcome address. Ms. K. Saraswathi, Secretary General of the Chamber inaugurated the program and highlighted the existing gap between academia and Industry in her address. She also stated that the Chamber focuses and conducts such programs to bridge the gap and provide opportunities for the next generation to explore new avenues while choosing their career path. Dr. B. Ravi, Managing Partner, B. Ravi & Associates and Chairperson, MCCI Company law/Corporate matters was the resource person. He enlightened the students with the nuances of the Companies Act 2013. The feedback from the Students and the College authorities was excellent. The two day program had an extensive coverage in the local media.

66


Seminar on

Corporate Governance

04th Mar 2019

The Chamber organized a half-day session on Corporate Governance under the auspices of the Company Law/ Corporate Matters on 4th March 2019 at Hotel Raintree, Anna Salai, Chennai.

This session was followed by a presentation on “SMEsHow to scale up the Governance Ladder” by Mr. V.A.George, MD, Thejo Engineering Ltd.

This was a joint program with Securities & Exchange Board of India (SEBI) and National Institute of Securities Management (NISM).This session provided a platform for the Directors, Company Secretaries, Independent Directors, senior level officers in the corporate, secretarial officers and executives to know the latest on the above topic and to interact with officials from SEBI, including the whole time member, SEBI.

Mr Pradeep Ramakrishnan, Deputy General Manager, SEBI made a presentation on “SEBI Listing Obligations and Disclosure Requirements (LODR)”

Dr. B. Ravi, Chairman, MCCI Expert Committee on Company Law / Corporate Matters & Practicing Company Secretary & Managing Partner, B. Ravi & Associates welcomed the Chief Guest, speakers and the participants.

Dr. V.R. Narasimhan, Dean, NISM and Mr. M.Krishnamoorthy, Faculty, NISM detailed on the Corporate Governance and Rights of Shareholders.

The final session was by Ms Priya Subbaraman, Chief Regulatory Officer, NSE on Compliance with Listing Norms – The Road Ahead. Mr. V.V. Naresh, Co-Chairman, MCCI Company Law/ Corporate Matters Committee & Vice President – Company Secretary & Compliance Officer, Intellect Design Arena Ltd. delivered the vote of thanks.

Mr. G. Mahalingam, Whole time Member, SEBI delivered < = }    <   <    < measures adopted by SEBI to ameliorate the standards of Corporate Governance for listed companies in India. Dr. M. Thenmozhi, Director, NISM gave an introduction about the theme of the Conference. Mr. N. Ramanathan, MD, Ponni Sugars Ltd. addressed on the “Impact of Governance on Performance of Listed Entities”. Mr. P. Viswanathan, Secretary, Sundaram Finance Ltd., made a presentation on “Governance Issues & Challenges in NBFC Sector”.

The 50 participants made the session an interactive one with their enthusiastic participation and gave a positive feedback.

67


GST

EXPERT COMMITTEES

Seminar on

â&#x20AC;&#x153;GST @1 - Journey so far and the Road Aheadâ&#x20AC;? The historical Tax reform GST had 

 ## !"#       / Chamber had been actively involved before and after the GST implementation in the country. To throw light on the same, a one day Seminar â&#x20AC;&#x153;GST@1-Journey so far and the Road Aheadâ&#x20AC;? was organized. The objective of the Seminar was to understand the journey of GST since its implementation in July 2017, updation and modifications in the last one year, the various changes in the GST law during this period, the revenue objectives met by the Government, ground level issues faced and the issues resolved, technological challenges etc. The Seminar was also a useful platform to interact with experts and to understand the future journey of GST. Mr. Ramkumar Ramamoorthy, GC Member welcomed the special guests and the participants.Mr. K. Vaitheeswaran, Chairman, GST Committee made a presentation on the topic, â&#x20AC;&#x153;One year Journey of GST â&#x20AC;&#x201C; An Overviewâ&#x20AC;?. He elaborated the Pre GST journey â&#x20AC;&#x201C; milestones followed by the new concepts in GST and the role of the GST Council.

Jul 2018

Commissioner for Commercial Taxes, Govt. of Tamil Nadu appreciated the collaboration between the Centre and State in implementing the tax of this nature. He stated that the extreme cooperation received from both the Centre and State Officials had made this year seamless. He added that the experience of implementing GST for the past one year had been good economically. The shortfall in revenue which has to be interpreted as the difference between the promised and achieved is only 3% and that itself is an achievement as per his statement. Further, the compensation from the Central to the State was smoothly handled. In the Panel discussion that was moderated by Mr. Vaitheeswaran, the following experts Mr.R.Venkatesh, Vice President & Head-Indirect Taxes, L & T Construction, Chennai, Mr.G.Sivakumar, Sr.Vice President (Finance), Financial Software & Systems Pvt.Ltd., Mr.R.Gopakumar, Associate Director, Cognizant Technology Solutions Pvt. Ltd., Mr.KK Sekar, Head Indirect Taxes, Ashok Leyland Ltd, Mr.G.RaghuSankar, Executive Director, International Clearing & Shipping Agency (India) Pvt.Ltd. representing the Construction, IT & ITES, Export Services, Manufacturing and Logistics Sector respectively shared their thoughts and inputs about GST impact in their sectors.

Speaking on the occasion, Mr.C.P.Rao IRS, Principal Chief Commissioner for GST & Central Excise, Chennai stated that the Government had played a pivotal role in making one year of GST, a success. He explained that the public outreach had been enormous with 260 Seva Kendras operating in various districts, with 60000 officers trained in the Government and more than 2000 outreach programs held and 34000 queries answered. He reiterated that a lot of effort had been put by the Government to ensure the success of GST. Dr. T.V. Somanathan IAS, Additional Chief Secretary &

The Seminar was attended by more than 70 participants.

68

27th


Session on GST Audit & Filing of Annual Returns

23rd Nov 2018

With the deadline fixed for filing of GST Annual Returns, the Chamber organized an interactive Session on GST Audit and Filing of Annual Returns on 23rd November 2018 at the E-hotel, Chennai under the auspices of the GST Committee. This session was organized to create awareness on the various procedures related to filing of GST Annual Returns. Mr. K. Vaitheeswaran, Chairman, GST Committee welcomed the speakers and set the tone for the meeting. Mr. R. Srivatsan, Superintendent, NACIN (National Academy  ~ \=      _ `  Â&#x152; _      [ Audit & GST Annual Returns â&#x20AC;&#x201C; Format, Filing & Compliance in his presentation and clarified the queries of the participants. Mr. Harisudhan, Partner, PWC, in his presentation GSTR 9 and GSTR 9c covered the key aspects and elaborated its importance from the Tax payersâ&#x20AC;&#x2122; perspectives followed by Mr. K.K. Sekar,

Head-Indirect Taxes, Ashok Leyland Ltd. who elaborated the same from the perspective of industries. The session was attended by 120 participants.

Is GST Heating up? Updates on Supreme Court Judgements The Chamber organized a Session on â&#x20AC;&#x153;Is GST heating up? â&#x20AC;&#x201C; Updates of Court Judgmentsâ&#x20AC;? on 23rd March 2019 at Hotel Raintree, Chennai. Mr. Ramkumar Ramamoorthy, President, MCCI welcomed the key speaker and the participants and set the tone for the meeting. Mr. N. Venkataraman, Senior Advocate, Supreme Court elaborated on the discussions he has had with experts across the country on GST and the various dimensions of GST. He further elaborated on how we could suggest improvements to the GST Council in dealing with showcause notices and other similar issues.

23rd Mar 2019

The two recent judgments on the constitutional issues of GST, one from the Supreme Court and the other from the Kerala High Court was explained in detail bringing out the essence of the cases and its impact on implementation of GST. He further discussed other cases which are relevant to the above judgments and explained how certain sections were interpreted. He clarified the queries raised by the participants. Mr. K. Vaitheeswaran, Advocate and Member of the General Committee of the Chamber proposed the vote of thanks after sharing a few of his thoughts on GST.

69


HR & IR

EXPERT COMMITTEES

Seminar on

Best Practices on Industrial Relations

29th May 2018

- Learnings from Manufacturing for the IT Industry The Chamber along with NASSCOM hosted the Seminar on Best Practices on Industrial Relations â&#x20AC;&#x201C; Learnings from Manufacturing for the IT Industry at Hotel Raintree, Chennai.

 *     \   ` ~<  \ ~~= Â?? ` ? Committee covered the legal perspective on IR Challenges for the IT Workforce in an innovative manner by having a questionnaire on the acts that are applicable.

Dr. R. Nanthagopal, IAS, Commissioner of Labour, Labour Commissionerate, Chennai, Chief Guest addressed on the important trends in Industrial Relations pertaining to the Labour Department. Ms. K. Saraswathi, Secretary General, MCCI proposed the formal vote of thanks.

The Panel Discussion on the topic â&#x20AC;&#x153;Best Practices in IRâ&#x20AC;?: Learnings from Manufacturing Sector, were moderated by Mr. S. Deenadayalan, Chief Architect-Organizational Capacity, CEO Group The panel speakers included Mr. C. Sreetharan, Vice President â&#x20AC;&#x201C; HR, The Hindu (Retd.) Mr. F. Israel Inbaraj, General Manager, Tata Consultancy Services, Mr. M. Mohan, General Manager- Corporate HR, RANE Group, Mr. Arul Ananda Prabhu, Head â&#x20AC;&#x201C; Human Resource, Royal Enfield (Unit of Eicher Motors). They shared their experiences and valuable thoughts on the practices in IR in manufacturing sector that could be adopted in the IT sector.

In the technical sessions, Mr. Ramkumar Ramamoorthy, Executive Director-India, Cognizant Technology Solutions India Pvt. Ltd., addressed about the theme, â&#x20AC;&#x153;Changes in IT Landscape: Opportunities and Challengesâ&#x20AC;?.

Mr. Raja Krishnamurthy, OD Consultant, Leadership Coach & Social Activist, Chennai addressed on Proactive IR and shared his experiences in the various industries he had served and gave tips for Proactive IR.

Mr. Sridharan Sivan, Chairman, NASSCOM TN Regional Council &Managing Director, S10 Healthcare Solutions Pvt. Ltd. welcomed the participants.

70


MCCI $%    / !1 2Â&#x2020;  Â&#x2021;      course on HR under the auspices of the HR & IR Committee. The classes were conducted on Saturdays for the convenience of the participants  ! {   '[{ # 2018 at the Chamberâ&#x20AC;&#x2122;s premises.

June 2018

Prof. Anuradha, Great Lakes Institute of Management Ms Rajini Srinivasan, Pfizer Limited, Mr Bijumon Jacob, Sr. Vice President & Head â&#x20AC;&#x201C; HR, Temenos India Ltd. Mr. Shyam C Rama, Murugappa Group Dr. Vidya Srinivasan, D.G.Vaishnav Mr Jawahar Michael, VP-HR & Admin, Sun TV

The course was designed for the benefit of working professionals in the corporate with academic sessions, practical sessions, sharing industry experiences, mock sessions, case studies etc. Mr. V.A. George, Managing Director, Thejo Engineering Ltd. was the Chief Guest for the Inaugural of the HR Course. He shared his experiences and valuable thoughts on how HR should function with the participants.

Some of the topics dealt in the course include:-

Dr. S. Shameem, Assistant Professor, Great Lakes Institute of Management Ms P Radhika, Cerebrus Consultants Mr. N.Prasad, Former Exec. Vice President, T I Group Dr. Suresh Srinivasan, Great Lakes Institute of Management The course was attended by 25 participants who gave an excellent feedback. The certificates were distributed to the participants in the HR Conference held on 13th July 2018.

Vision & Mission HR Organizational Behavior Social Media, Mobility, Analytics & Cloud (SMAC) and HR Negotiation / Compensation Benefit Strategy & HR HR to Business Partner - Out Look

Experts who handled the sessions were: Mr. S. Ganapathy, Sundaram Finance Ltd. Ms. Malini Saravanan, New Indian Express Prof. N.Sridhar, Great Lakes Institute of Management

71


EXPERT COMMITTEES

Presentation on

HR Analytics

03rd Nov 2018

HR Analytics is an area in the field of analytics that refers to applying analytic processes to the human resource department of an organization with the hope of improving employee /employer performance. Big Data in HR sets to evaluate and improve practices including talent acquisition, development, retention and overall organizational performance._ To know and understand more about the above subject, the Chamber organized a session under the auspices of the HR & IR Committee. Mr. S. Ganapathi, Head-HR of Sundaram Finance Ltd. & Member of MCCI HR & IR Committee made a detailed presentation on HR Analytics on 3rd November 2018 at the Conference room of the Chamber. The participants who took part in the session were fourteen in number and they gave a positive feedback.

Prevention of

Sexual Harassment at Workplace

72


Prevention of

Sexual Harassment at Workplace / !1 2Â&#x2020;        program on â&#x20AC;&#x153;Prevention of Sexual Harassment at Workplaceâ&#x20AC;? on 5th January 2019 at E Hotel, Chennai to understand the concept & insight of the law related to Prevention of Sexual Harassment of woman at work place. The program was scheduled to touch upon <= <{ \={      <  mentioned topic. The program was meant for both genders.

05th Jan 2019

structured wherein there were group activities to make the participants understand the nuances of sexual harassment at workplace. The participants understood the aspects of handling sexual harassment cases with a sensitive and sensible approach while doing mock sessions. The 50+ participants had an excellent session where in they learnt the techniques of dealing with sexual harassment.

Ms. Madhri Gurusamy, Advocate, T.S. Gopalan & Co. made a presentation on the legal aspects of sexual harassment at work place.

In the valedictory session, Ms. Uma Rao, Head HR, Ashok Leyland shared her experiences of dealing with such issues. She elaborated on the various measures adopted during her tenure to encourage women aware of these mechanisms and applauded the Chamber for organizing such events.

Ms. Saras Baskar, Counselling Psychologist & Coach touched on the health psychology. The program was

Ms. Uma Rao distributed the certificates to the participants and received a positive feedback from the participants.

The Chamber organized a one day

    "2!  Â&#x192;Â&#x2C6;    Sexual Harassment at Workplaceâ&#x20AC;? on 5th January 2019 at E Hotel, Chennai to understand the concept & insight of the law related to Prevention of Sexual Harassment of woman at work place.

73


LEGAL

EXPERT COMMITTEES

Round table on

“Judgement of the Data Protection Regime

06th Oct 2018

- Insights for India Inc.

Significant changes under the current Indian data protection and privacy rights legal regime.

The Justice B.N. Srikrishna Committee submitted his report and the Data Protection Bill draft to the Ministry of Electronics & Information Technology on July 27, 2018. Passage of the Data Protection Bill will be a huge stride for India in capitalizing the momentum of technology & data driven industrial era. The draft bill is likely to be tabled for the parliament’s approval in the coming winter session. The new regime will require Indian corporates to gear up and revamp their organizational, technical, and managerial security processes to ensure compliance. This will necessitate early on advocacy and awareness for India Inc. Hence a round table was organized by the Chamber under the auspices of the Legal Committee. A presentation was made by Ms. Arya Tripathy on the Data Protection Bill and the consequences once it becomes a law on the following aspects Overview of the Justice B.N. Srikrishna Committee report & draft Data Protection Bill Impact of the draft bill on Indian business and the changes that Indian companies should start planning for to avoid last minute rush to comply

74

Consent, privacy, data localization, purpose of collection, rights of data participants, and other key regulations Similarities with European Union General Data Protection Regulations that apply extraterritorially to Indian companies doing business in EU and lessons learnt from Europe that are relevant for India’s new data protection regime. Key jurisprudence–lessons on Dos and Don’ts Takeaways for companies in India and how to tackle practical compliance difficulties across sectors.

Around 25 participants took part and gave a feedback

positive


Session jointly organized by MCCI & EFSI on

â&#x20AC;&#x153;Judgement of the Supreme court on Allowances under EPF Actâ&#x20AC;?

09th Mar 2019

/ ^1#_  "!_       judgement in the civil Appeal no(s) Â&#x2030;``}`|}}_`~ Â&#x160;1#Â&#x192;   contribution needs to be paid on certain allowancesâ&#x20AC;?. In the light of the above judgement, queries have arisen   <<      _=  << will be included in the definition of basic wages, on the components of which contribution is to be paid both by the 

  

*= = ~   {<

 

  <={  =  the wages and allowances paid by the employers, an interactive session jointly by the Madras Chamber with EFSI, Chennai was organized.  *  =   \= |  = Â&#x20AC;   \ *[*   ` ~*\ who has been involved in this litigation at various levels _    <= Â&#x2DC; =  <       on the steps to be taken by the employers. The queries raised by the participants were clarified while making the presentation.

Â?  <Â&#x2C6;Â&#x20AC;[Â&#x2122;'Â&#x161; =              <= {  =   #Â&#x2122;#"Â&#x2122;"#Â&#x2019;  < ] | <=Â&#x192;  =Â?{<~ * 300+ participants were able to understand and clarify their queries. The feedback from the participants was very positive.

75


LOGISTICS

EXPERT COMMITTEES

Session on

Authorized Economic Operator (AEO), E Way Bill & E Sanchit

10th

May 2018

The Chamber organized a session on AEO, E Way Bill & E Sanchit under the auspices of the Logistics Committee on 10th May, 2018 at E Hotel, Chennai. National Academy of Customs, Indirect Taxes & Narcotics (NACIN) was the Knowledge Partner for this program. The Chief Guest Mr.Vasa Seshagiri Rao IRS, Principal Additional Director General, NACIN, Chennai, emphasized up on the importance of AEO and highlighted the advantages of E-way bill and E- sanchit. Dr. K. Venkatram Reddy IRS, Additional Director, NACIN and an authority on AEO made a detailed presentation about AEO and the various benefits that could be availed on obtaining AEO Status. Mr. R. Srivatsan, Superintendent, NACIN made a presentation on E-Way bill and Mr. Venugopalan Nair IRS, Asst. Director, NACIN made a presentation on the procedures of E â&#x20AC;&#x201C;Sanchit. The program was attended by fifty members and the feedback was positive.

Exclusive Training Program for Michelin India Pvt. Ltd. The Madras Chamber, at the request of Michelin India Private Ltd., organized a two day training program exclusively for its employees on EXIM, GST and e-way Bill. The first day session on EXIM procedures was handled by Mr. J. Krishnan, GC Member and Partner, S.NatesaIyer& Co and it was attended by 7 persons. The second day session on GST and e way bill were handled by Mr.R.Srivatsan, Superintendent, NACIN and Mr.Venugopalan Nair IRS, Asst. Director, NACIN. attended by 13 members. The feedback was very positive.

76

20th & 21st July 2018


Interactive Meeting with

'    Department The Madras Chamber organized an interactive meeting with the Chief !!  !  # of the Customs Department on 14th November 2018 under the auspices of the Logistics Committee. Mr Ramkumar Ramamoorthy, President, MCCI gave the formal welcome address and set the tone for the meeting. Mr. Ajit Kumar IRS, Chief Commissioner of Customs, Chennai lauded the yeoman service of the Chamber for bringing the Port to Chennai. He expressed his appreciation for Indiaâ&#x20AC;&#x2122;s rise in the position in the World Bank Report and called it a â&#x20AC;&#x153;Momentous Jumpâ&#x20AC;?. He stated that the three important factors such as e-sealing of containers to bring down the cost and time, uploading of documents (e â&#x20AC;&#x201C;documents) and Port infrastructure (sagarmala Project) made an impact in ensuring ease of doing business. The e sealing and e- sanchit are being tested in Chennai. While mentioning about Authorized Economic Operators, he stated that the applications received were on the rise and the Government would encourage AEO certification by providing all the necessary support. The Commissioner elaborated on the advantages of AEO certification. He also

14th Nov 2018

stated that there were â&#x20AC;&#x153;LiveChatâ&#x20AC;? facilities for direct port entry. He requested the participants to send their concerns to the Customs facilitation Committee that they face regularly. He stated the Commissioner in charge with his officers would address the issues. As for as refunds are concerned, he informed that 97% had been cleared and due diligence to be exercised at the time of filing returns. He concluded his address by stating that the Customs officials would support the users in the best possible manner. In the technical session, Mr. M.Ponnuswamy, IRS Retd.dealt with IGST refund related issues followed by Mr.Prabath Shetty, IRS., Assistant Commissioner of Customs, Chennai who made a presentation on AEO. Mr. M.Ramesh, IRS., Deputy Commissioner of Customs, Chennai threw light upon â&#x20AC;&#x153;Ease of Doing Businessâ&#x20AC;? particularly in relation to Customs procedures in his presentation. Mr.V.Govindan, EDI, Department of Customs addressed about the Operational Procedures & Issues (EDI, ESanchit & SWIFT). The interactive session was attended by 65 members and the feedback was positive.

77


EXPERT COMMITTEES

6th Trade Meet with Kamarajar Port Limited The 6th Trade Meet was jointly organised by the Chamber with Kamarajar Port Ltd under the auspices of the Logistics Committee 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 of 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 and to enhance the EXIM trade by taking advantage of the various facilities offered by the Port. Mr. J. Krishnan, Partner, S. Natesa Iyer & Co. and Member of the General Committee welcomed all the representatives of the EXIM Trade. Mr. Rinkesh Roy IRTS, Chairman cum Managing Director, Kamarajar Port Ltd., gave an overall account of the Kamarajar Port growth story. While addressing the audience, Mr. S. Anantharaman IRTS, Principal Chief Operations Manager, southern Railways

78

20th Apr 2018

stated that the massive infrastructure like Railways would remain underutilised unless a hinterland is developed to feed the ports. Mr. M. Ajith Kumar IRS, Chief Commissioner of Customs, Chennai addressed the participants and inaugurated the session. Mr. V. Krishnasamy, General Manager â&#x20AC;&#x201C; Operations, Kamarajar Port Ltd., made a presentation of the KPL facilities. Mr. V. Chandramouleeswaran, Director, Chettinad International Coal Terminal Pvt. Ltd., made a presentation on the Common User Coal Terminal in the technical session. Mr. N. Suresh, Sr. V.P Chettinad International Bulk Terminal Pvt Ltd made a presentation on Multi Cargo Terminal followed by Capt. T. Jeyaraj, Head, Adani Kattupalli Port Pvt Ltd. and Adani Ennore Container Terminal Pvt. Ltd. who explained about the Container Terminal including DPE/ DPD. Mr. P.R. Hanoj, Manager â&#x20AC;&#x201C; Vehicle Logistics shared the car manufacturers perspective with the participants.


Trade Services Trade Information and Library Trade enquiries received by the Chamber during the year related to imports, exports, joint venture possibilities, foreign collaborations and they have been replied accordingly

It has a panel of arbitrators. The Chamber is a life member of the Indian Council of Arbitration, New Delhi

The Chamber issues certificate of origins for goods being exported to other countries, attests export documents, invoices, agreements, sales contracts, etc.,

The Madras Chamber is a Promoter Affiliate of The Associated Chambers of Commerce & Industry of India (ASSOCHAM), New Delhi.

The Chamber also issues letters to the various Embassies, Consulates recommending grant of visa for business travel. This service is provided only to members.

FICCI

Advisory Services

ASSOCHAM

The Chamber is also a member of the Federation of Indian Chambers of Commerce & Industry, New Delhi

Arbitration

Consultative Committee of City Chambers of Commerce (CCCCC)

The Chamber undertakes arbitration between members and also between members and non- members on request.

The Madras Chamber of Commerce of Commerce & Industry is a member of CCCCC.

Representations to Government Date

Representation

Addressed to

02-05-18

MCCI’s GST Representation

Hon’ble Shri Arun Jaitley Hon’ble Finance Minister Govt.of India New Delhi

15-08-18

Interlocked Directorships clarification on effective date sought

Mr.Biranchi Narayan Sahoo General Manager Division of Issues & Listing-1 (DIL-1) SEBI, Mumbai

20-11-18

MCCI Suggestions / Comments & Justification on the Proposed Amendments to Companies Act 2013

The Ministry of Corporate Affairs Govt. of India New Delhi

26-12-18

Suggestions for Council for Trade Development and Promotion

Mr.V.Arun Roy, IAS Additional Secretary to Government Industries (MIB.1) Dept Govt. of Tamil Nadu, Chennai

21-03-19

MCCI Suggestions on High Level Committee on CSR

The Ministry of Corporate Affairs Govt. of India New Delhi

79


CHAMBER IN THE NEWS

CHAMBER IN THE NEWS

80


81


CHAMBER IN THE NEWS

82


83


GUEST SPEAK

84


85


MEMBERS SPEAK

Conference on

â&#x20AC;&#x153;Roadmap to Zero Waste in

Chennaiâ&#x20AC;? with UN-Habitatâ&#x20AC;&#x2122;s Urban Thinkers Campus I thank you for the opportunity given to attend the conference. It is undoubtedly a great opportunity which gave a lot of inputs on practical issues of the city. A lot of networking opportunities was provided along with excellent hospitality. I wish to express my heartfelt gratitude for the opportunity.

=Dr. K.R. Sowmya Prof and head - MBA Rajalakshmi Engineering College, Chennai

MCCI & NHRD - HR Conference You all did a commendable job in meticulously organizing a wonderful event. Â&#x20AC;  Â&#x203A;=

+<=>  [ CEO, CORE MIND.



  *#    ' of the Customs Department The event was qualitatively enjoyable and deserves to be appreciated for the effort. Congratulations to the entire Team.

Raghu Sankar G Executive Director, International Clearing & Shipping Agency (India) Pvt Ltd,

HR Course I wish to write for the record that the first session was awesome.      <  }     { { < *=

Nilma V Shah Manager Â?   `  = ]<    < Â&#x20AC;Â =

Conference on Future of Power in Tamil Nadu < } <  

     {   <Â&#x201C;<~    Â&#x20AC;Â&#x2030;Â&#x2C6;?=   *= <{< { ~Â&#x2C6; {    =={       

    <{  _ of excellent speakers you have lined up today.

\%]%]   Asst Professor in Civil Engg VELAMMAL ENGINEERING COLLEGE

86


THE ORGANIZATION

PRESIDENT VICE PRESIDENT GENERAL COMMITTEE SECRETARY GENERAL Specialized Committees

Support Services

Banking, Finance & Insurance Company Law/Corporate Matters Corporate Social Responsibility (CSR) Direct Taxes Economic Affairs Education & Skill Energy including Renewable Energy GST

Commercial Arbitration

HR & IR

Visa Recommendation

IT & ITES

Â&#x153;Â&#x153; Â? Â&#x17E; Â&#x153;Â&#x153;  

Legal Affairs Logistics & Supply Chain Manufacturing including SME

TRADE INFORMATION Publications

Membership

Membersâ&#x20AC;&#x2122; database

Accounts

Information database

Establishment

Website

AUDITORS Messrs. RGN Price & Co., were re-appointed as Auditors of the Chamber for the year 2018-2019

MADRAS CHAMBER SECRETARIAT Ms. K Saraswathi

Secretary General

Mr. S. Sankaranarayanan

Deputy Secretary

Ms. Madhumathi C

Deputy Secretary

Ms. D. Vasumathi

Manager (Admin & Programs)

Ms. Revathi Hariharan

Manager (Member Services)

Mr. Sakthivel.E

Executive (Accounts)

Mr. R. Suresh

Coordinator- Data Management & Programs

Mr. A. Elumalai

Support Staff

87


CORPORATE MEMBERS

Corporate Members A Index

34

Anand, Samy & Dhruva

35

Andritz Technologies Pvt. Ltd.

36

Anjappar Chettinad A/c Restaurant

37

Antares Weighing

38

Apex Laboratories Pvt. Ltd.

39

Apollo Tyres Ltd

40

APT Tools & Machinery India Pvt. Ltd.

41

Aquatherm Engineering Consultants (India) Pvt. Ltd.

42

Arinos Infosolutions (P) Ltd

43

Arjun Chemicals Pvt. Ltd.

44

Arka International

45

Arkema Peroxides India Pvt. Ltd.

46

Armstrong International Pvt. Ltd.

47

ASA & Associates LLP

48

Ashok Leyland Limited (Sub)

49

Aspiration Energy Pvt. Ltd.

50

Aspire Systems (India) Pvt. Ltd

51

Astra Innovations India Pvt. Ltd

52

Athena Infonomics India Pvt. Ltd

53

Aumund Engineering Pvt. Ltd.

54

AVA Cholayil Health Care Private Ltd.

55

Avacend Solutions Pvt. Ltd.

56

Avalon Consulting

57

Avant-Garde Systems and Controls (P) Ltd.

58

Axles India Ltd

59

Ayan Tech Solutions Pvt. Ltd.

1

360 Degree Global Equipments Pvt. Ltd.

2

4 I Apps Solutions Pvt.Ltd.

3

A J Trust Educational Consultancy

4

A R Krishnan & Associates

5

A S Shipping Agencies Pvt.Ltd.

6

A V Thomas & Co Ltd.

7

Aapt Distribution Pvt. Ltd.

8

Abirami Soap Works LLP

9

Adani Kattupalli Port Pvt. Ltd.

10

Adayar Gate Hotel Ltd.

11

Addison & Company Ltd.

12

Adrenalin eSystems Ltd.

13

Agaram Infotech Pvt. Ltd.

14

AGP International Services

15

AGX Logistics India Pvt. Ltd.

16

Akzo-Nobel India Ltd.

17

Alcatel-Lucent India Ltd.

18

Alfanar Engineering Services Pvt. Ltd.

19

Alliance Infrastructure Projects Pvt. Ltd.

20

Allison Transmission India Pvt. Ltd.

21

Allsec Technologies Ltd.

22

Alpha Water Technologies India Pvt. Ltd.

23

Alpharithm Technologies Pvt. Ltd.

24

Altacit Global

25

Amac Engineering Services Pvt. Ltd.

26

Amalgamations Pvt. Ltd.

27

Ambalsoft Infotech Pvt. Ltd.

28

Ambattur Fashion India Ltd.

60

B B S K and Associates

29

Amec Foster Wheeler India Pvt. Ltd.

61

B Ravi & Associates

30

Amman-Try Sponge and Power (P) Ltd.

62

Barrla Fets Pvt. Ltd

31

Amrutanjan Health Care Limited

63

Basco India

32

Anand & Anand

64

BCT Consulting Pvt. Ltd.

33

Anand Automotive India Pvt. Ltd.

65

Beardsell Ltd.

66

Bentoli AgriNutrition India Pvt. Ltd

88

B Index


67

Besmak Components Pvt. Ltd.

103

Cholayil Pvt. Ltd.

68

Beva Silicones Private Ltd.

104

City Union Bank Ltd.

69

Beyontec 2nABLE Solutions Pvt. Ltd.

105

Codina Metalic Pvt. Ltd.

70

BGR Energy Systems Ltd.

106

Cogent Innovations Pvt. Ltd.

71

Bhaha Engineering Service

107

Cognizant Technology Solutions India Pvt. Ltd.

72

Bharat Petroleum Corporation Ltd.

108

Comodo Security Solutions Pvt. Ltd.

73

Bharti Airtel Ltd.

109

Computer Age Management Services Pvt.Ltd

74

Bhartiya International Limited

110

Contemporary News Pvt. Ltd.

75

Billionloans Financial Services Pvt. Ltd.

111

Cooper Standard Automotive India Pvt. Ltd

76

Blackstone Group Technologies Pvt. Ltd.

112

Corporate Consulting Group

77

BNY Mellon Technology Private Ltd.

113

Corporation Bank

78

Brakes India Pvt. Ltd., Padi

114

CPC Diagnostics Pvt. Ltd.

79

Britannia Industries Ltd.

##Â&#x161; ~[|[  Â&#x20AC; Â  

80

Broekman Logistics India Pvt. Ltd.

116

CSS Corp Pvt. Ltd.

81

BS & B Technologies (P) Ltd.

117

Cura Health Care Pvt. Ltd.

82

BSD & Associates

83

BSH Household Appliances Mfg. Pvt. Ltd.

84

BSR & Co. LLP

85

Buildcraft Interior Pvt. Ltd.

C Index





D Index 118

Daimler India Commercial Vehicles Pvt. Ltd.

119

Damodar Tradelinks Pvt. Ltd.

120

Darts India Pvt. Ltd.

121

Deloitte Haskins & Sells

86

CADD Centre Training Services Pvt.Ltd.

122

DELPHI-TVS Diesel Systems Limited

87

Cameo Coporate Services Ltd.

123

Dharsan Dredging & Construction Pvt. Ltd.

88

Caplin Point Laboratories Ltd

124

DHL Express (India) Pvt. Ltd.

89

Capricorn Food Products India Ltd.

125

DHL Logistics Pvt. Ltd.

90

Cargotec India Pvt. Ltd.

126

Dormakaba India Pvt. Ltd.

91

Castrol India Ltd.

127

Durr India (P) Ltd.

92

CavinKare Pvt. Ltd.

128

DXC Technology India Pvt. Ltd.

93

Ceego Labs Pvt. Ltd.

129

Dynamic Netsoft Technologies Pvt.Ltd.

94

CEO TSG IR & Labour Compliance Services Pvt. Ltd.

130

Dyrocon Airtech Pvt. Ltd.

95

Chain-Sys India Pvt. Ltd.

96

Chakiat Agencies Pvt. Ltd.

97

Chemplast Sanmar Limited

98

Chennai Petroleum Corporation Ltd.

99

Chettinad Cement Corporation Ltd

100

Chevron Petroleum India Pvt. Ltd.

101

Chidambaram Fishnets Pvt. Ltd.

102

Chidambaram Shipcare Pvt. Ltd.

E Index 131

Easun - MR Tap Changers (P) Ltd.

132

Easun Reyrolle

133

Easy Jobs Innovations Pvt. Ltd.

134

Easy Solutions

135

eBMS Solutions Pvt.Ltd.

136

EcoHealth Products Pvt. Ltd

89


CORPORATE MEMBERS 137

Economic Law Practice

170

GBA Consulting (P) Ltd.

138

Emrald Resilient Tyre Manufacturers Pvt Ltd

171

GE Power Conversion India Private Limited

139

Engenius Erectors Pvt. Ltd.

172

GE T & D India Limited

140

Enmas O & M Services Pvt. Ltd.

173

Gemini Fertilizers

141

Entvent Tools & Services

174

Gemini Iron & Steel Pvt. Ltd

142

Ernst & Young LLP

175

Gemini Sea Air Freight Services

143

ESAB India Ltd.

#Â&#x;Â&#x201C;   Â&#x20AC; Â&#x2030; {   Â&#x20AC;Â *

144

ESeal Store

177

George Oakes Limited

145

ETA Star Property Developers Ltd.

178

Global Insurance Brokers Pvt. Ltd

146

European Flavours & Fragrances Pvt. Ltd

179

Globelink WW India Private Ltd.

147

Eurotherm India Pvt. Ltd

180

GMV Engineering Pvt. Ltd

148

Eveready Industries India Ltd.

181

Good Care Enviro System Pvt Ltd

149

Excel Optics (P) Ltd.

#Â&#x2019;        Â&#x20AC;*Â *

150

Express Infrastructure Pvt. Ltd.

183

Grant Thornton India LLP

184

Greentech Recyclers

185

Group Fio India Private Limited

186

Grundfos Pumps India Pvt. Ltd.

187

GSV Associates

188

Guardian Anti Corrosives (P) Ltd.

F Index



151

Facilio Technology Solutions Pvt. Ltd

152

Farm Implements (I) Pvt.Ltd.

153

Federal Bank Ltd.

154

Fichtner Consulting Engineers (India) Pvt. Ltd.

155

First Engineering Plastics India Pvt. Ltd.

H Index

156

FLSmidth Private Limited

189

H P Valves & Fittings India Pvt. Ltd.

157

Fluidtherm Technology (P) Ltd.

190

Hanon Automotive Systems India Pvt.Ltd.

158

Force 1 Guarding Services Private Limited

191

Haribhakti & Co. LLP

159

Ford India Private Limited

192

Hariharan Foundations Pvt. Ltd.

160

Fore Brain Technologies Pvt. Ltd

193

Hauer Associates

161

Foress Impex Pvt. Ltd

194

HDFC Bank

162

Fox Mandal & Associates

195

Hindustan Unilever Ltd.

163

Frendi Fashions Pvt. Ltd.

196

Housing Development Finance Corporation Ltd.

164

Fumigation Services Pvt. Ltd

197

Husqvarna (India) Products Private Ltd

165

Futurenet Techologies (India) Pvt. Ltd.

198

HVK Systems & Marketing Pvt. Ltd.

199

Hyundai Motor India Ltd

I

Index

G Index 166

G G Organics Exports Pvt. Ltd.

200

I Acharya Silicon

167

Gajra Pai and Zhu Private Limited

201

168

Gateway Distriparks Ltd.

ICRA Management Consutling Services Limited (IMaCS)

169

GAVS Technologies Pvt. Ltd

202

IL&FS Cluster Development Initiative Limited

90


"Â&#x201D;  { _Â&#x2C6; {{*[ Â&#x20AC;*Â *



234

KCP Sugar & Industries Corporation Ltd.

204

Incarnus Technologies India Pvt. Ltd

235

Keld Ellentoft India Private Ltd.

205

India Cements Capital Ltd.

236

206

India Pistons Ltd.

Kellogg Brown & Root Engineering Construction India Pvt. Ltd.

207

Indian Additives Ltd

237

International Flavours

208

Indian Bank

238

Kemin Industries South Asia Private Limited

209

Indian Oil Corporation Ltd.

239

Kenspire Advisors Pvt. Ltd.

210

Indian Potash Ltd.

240

Kilburn Electricals Ltd.

211

Info-Drive Analytics Private Ltd.

241

Kiran Global Chems Limited

212

Integrated Foods & Consumer Products (India) Pvt. Ltd.

242

Klemmen Engineering Corporation

243

Kochhar & Co.

213

Intellect Design Arena Limited

244

Kone Elevator India Pvt. Ltd.

214

International Clearing & Shipping Agency (India) Pvt. Ltd.

245

Kothari Safe Deposits Limited

246

Krebs Engineering Pvt. Ltd.

215

International Flavours & Fragrances India Pvt. Ltd.

247

Kriate HR Consultants Pvt. Ltd.

216

International Services

248

Kriti Kare India Private Limited

217

IP Rings Limited

249

Kriya Travel Logistics Private Limited

218

ITC Limited

250

Kriyaa Consultants & Engineers (P) Ltd.

251

Kumar & Raj

252

Kumar and Velayudham

L

Index

253

L & T Valves Ltd.

254

LA Freight Lift Pvt.Ltd.

255

Lakshmi Machine Works Ltd.

256

Lakshmikumaran & Sridharan

257

Larsen & Tubro Ltd. Chennai

258

LNV Technology Private Ltd.

259

Logic Information Systems (India) Pvt. Ltd.

J

Index

219

J Cynergy Global

220

J. K. FENNER (INDIA) LIMITED

221

JEF Techno Solutions Pvt. Ltd

222

Johnson & Johnson Private Limited

223

Johnson Lifts Private Ltd.

224

Jumbo Bag Ltd.

K Index 225

K & S Partners

260

Logitrans Technology Private Limited

226

K I (International) Ltd.

261

Lucas Indian Service Ltd.

227

K.Vaitheeswaran & Co.

262

Lucas TVS Ltd

228

Kalco Agro Products Pvt.Ltd

' Â&#x192;  ?  Â&#x20AC;  Â   230

Kannan Fibre Industries

231

Kardi Dryers Pvt Ltd

232

Karnataka Bank Ltd.

233

Karpagam Krishnan & Natarajan



M Index 263

Magtaan Travels & Holidays Pvt. Ltd.

264

Mahindra World City Developers Ltd.

265

Management and Governance Consulting Pvt. Ltd.

91


CORPORATE MEMBERS 266

International Flavours

267

Mark Softech Private Limited

Â&#x201C;Â&#x2019;  }[

  Â *

O Index 

269

Marwa Impex Private Limited

270

Maveric Systems Limited

271

MB Metallic Bellows Pvt. Ltd.

272

Mediclone Health Care Pvt. Ltd.

273

Medopharm

274

Metallic Bellows (I) Pvt.Ltd.

275

MGCM Vidya Private Limited,

276

Millennia Hi-Tech Systems Pvt.Ltd.

Â&#x;Â&#x;  <[  }







299

Ocrim International Technologies Pvt.Ltd

300

Ojus Power and Technologies Private Ltd.

301

Olam Information Services Pvt. Ltd.

302

Omega Techniks India Pvt. Ltd.

303

Omnex India Pvt.Ltd.

304

Onehub Chennai Pvt. Ltd.

305

Operational Energy Group India Ltd.

306

Orchid Pharma Ltd.

307

Oren Hydrocarbons Private Ltd.

308

Oriens Global Marketing Pvt. Ltd.

309

Orient Green Power Company Ltd.

310

Oriental Hotels Ltd.

311

Oriental Solutions Pvt. Ltd

312

Origin ITFS Pvt. Ltd.

278

P K Power Appliances Pvt. Ltd.

279

International Flavours

280

MRF Limited

281

MSKA & Associates

282

MTL Instruments Private Ltd.

283

Mukesh Infoserve Pvt. Ltd.

P Index

284

Mr.N.Venkataraman, Senior Advocate

313

Paragon Polymer Products (P) Ltd.

314

Paramount Shipping Services Pvt. Ltd.

315

Parry Agro Industries Ltd.

316

Paterson Consulting Group Pvt. Ltd.

317

Pe-Aristi Projects and Engineering Private Limited

318

Pentland India Trading Private Ltd.

319

Petrofac Engineering Services India Pvt. Ltd.

320

Petronash Engineering Services Ltd

321

Pioneer One Consulting LLP

322

Piramal Enterprises Limited

323

PKF Sridhar & Santhanam LLP

324

Polaris Consulting & Services Limited

325

Portman India Private Limited

326

Potent Management Solutions Pvt. Ltd

327

Prakash Foods & Feed Mills Private Ltd.

328

Praxair India Private Limited

329

Precia Molen India Ltd.

330

Precision Equipments (Chennai) Pvt. Ltd.

331

Price Waterhouse & Co LLP

N Index 284

N C Rajagopal & Co.

285

N Gopaldas Gems & Jewellery Exports Pvt. Ltd.

286

Nanchil Infrastructure Private Ltd.

287

Nav Indus Food Machines Pvt. Ltd.

288

Neophyll Agrisciences Pvt. Ltd.

289

Neptune Financial Software Private Limited

290

NFA Life Secure Private Ltd.

291

nice Neotech Medical Systems Pvt. Ltd.

292

Nile Marine Services

293

Nippon Paint (India) Pvt.Ltd.

294

Noble Eco Systems Pvt. Ltd.

295

Novares India Automotive Private Limited

296

NPS Technology & Engineering Services Pvt. Ltd

297

NTC Logistics India Pvt. Ltd

298

Nubiola India Pvt.Ltd.

Â&#x201D;Â&#x201D; Â&#x20AC;   [ Â&#x20AC;*Â *

92






333

Prince Gold & Diamonds India Pvt.Ltd

366

Rotork Controls India Private Ltd.

334

Print Plus

367

Royal Sundaram General Insurance Co Ltd.

335

Pristine Auqa Tech

368

RR Donnelley India Outsource Pvt. Ltd.

336

Priti Suri & Associates

369

Ruby Manoharan Property Developers Pvt. Ltd

337

Prodapt Solutions Pvt. Ltd

370

Ryan Logitech Private Limited

338

Protech Consultants

339

Protechsoft Systems Pvt. Ltd.

340

Protechsoft Technologies Pvt. Ltd.

341

Protection Engineering and Research Laboratories

342

Prou India Engineering Private Limited

343

PSL Ltd.

Q Index 344

QH Talbros Pvt. Ltd

R Index 345

R G N Price & Co.

346

R K Swamy BBDO Private Ltd.

347

R Subramanian & Co.

348

R Sundararaman & Co.

349

R V K & Co.,

350

Radisson Radiators

351

Raj Petro Specialities Pvt. Ltd.

352

Rajshree Bio Solutions LLP

353

Ramesh and Ramachandran

354

Rane (Madras) Ltd.

355

Rane Brake Lining Ltd.

356

Rane Engine Valve Ltd.

357

Rane TRW Steering Systems Ltd.

358

Raqmiyat Information Technology Pvt Ltd.

359

Rattha Holding Company Pvt. Ltd

360

Raunaq Steels Trading Private Limited

361

Ravindra Services Pvt. Ltd

362

Redington (India) Limited

363

Regal Interiors Private Limited

364

REV Consulting

365

Reva Phoenix Engineers & Consultants India

S Index 371

S Eshwar Consultants House of Corporate & IPR Laws

372

S Natesa Iyer & Co.

373

S V Global Mill Limited

374

S Venkatram & Co.

375

Sagtaur Universal

376

Saint-Gobain India Private Limited

377

Saipem India Projects Private Limited

378

Same Deutz Fahr India Pvt. Ltd.

379

Samsung India Electronics Pvt.Ltd.

380

Sanco Trans Ltd.

381

SAS Partners Corporate Advisors Pvt. Ltd.

382

Sattva Logistics Private Ltd.

383

SB SB and Associates

384

Schneider Electric Infra Ltd

385

Schneider Electric Systems India Pvt. Ltd.

386

Schwing Stetter (India) Pvt. Ltd.

389

Scope Specialities LLP

390

Seaking Cargo Services (I) P. Ltd.

391

Sengu and Paapu Associates

392

Sensiple Software Solutions Pvt. Ltd

393

Shardlow India Limited

394

Sharp & Tannan

395

Sheenlac Paints Limited

396

Sheng Long Biotech India Pvt. Ltd.

397

Shiloh Industries Pvt. Ltd

398

Shilpa Stainless Pvt. Ltd.

399

Shriram EPC Limited

400

Shriram Transport Finance Co. Ltd.

401

Simpson & Co. Ltd.

Pvt. Ltd

93


458

Tonglit Autogistic Pvt. Ltd.

459

Toshiba Machine Chennai Pvt. Ltd.

460

94


U Index

498

William Hare (India) Private Limited

499

Winsar Infosoft Pvt. Ltd.

469

Ucal Auto Private Limited

470

Ultratech Cement Ltd.

471

Uniphore Software Systems Pvt. Ltd

X Index

472

United India Insurance Co. Limited

500

473

United India Insurance Co. Ltd.

474

Unity Forge Private Ltd.

V Index 475

V A Tech Wabag Ltd

476

V V Titanium Pigments Pvt. Ltd.

477

V. Vasumathy and Associates

478

Vaigai Agri Tech

479

Vaishnavi Freight Logistics (P) Ltd.

480

Valiant Technologies Pvt. Ltd

481

Valmet Chennai Private Limited

482

Vanilla Holdings & Investments Pvt. Ltd.

483

VB Legal

484

Venkata Narayana Active Ingredients Pvt Ltd

485

Ventura Technologies Network Pvt. Ltd.

486

Ventureast Fund Advisors India

487

Victor Grace & Co.

488

Victoria Technical Institute

489

Vijayani Nutraceuticals Pvt. Ltd.

490

Virgo Polymer India Ltd.

491

Vivid Edge Software Solutions Private Ltd.

492

Voice Snap Services Private Limited

493

Voltas Ltd.

XS Real Properties Pvt. Ltd.

Y Index 501

YALEE INC

502

Yazaki India Pvt. Ltd.

503

Yes Bank

Z Index 504

Z Axis Decors Pvt Ltd

505

Zamil Steel Engineering India Pvt. Ltd.

506

Zeal Direct & Reinsurance Broking Services Pvt. Ltd.

W Index 494

Wabco India Ltd.

495

Wavin India Ltd.

496

Wheels India Ltd.

497

Wil Car Wheels Limited

95


AFFILIATED MEMBERS

96


PAST CHAIRMEN / PRESIDENTS (From the year 1996 the designation of Chairman was changed to President)

1836

Mr John Alves Arbuthnot

1859-60

Mr Henry Nelson

1837

Mr John Alves Arbuthnot

1861

Mr Alfred John Byard Mr William Reirson Arbuthnot

Mr John Williams Dare 1838

Mr John Williams Dare

1862

Mr Robert Orr Campbell

Mr William Scott Binny 1839

1840

Mr William Reirson Arbuthnot

Mr William Scott Binny

1863

Mr William Hamilton Crake

Mr John Line

1864

Mr Alfred John Byard Mr Henry Tolputt

Mr John Line Mr James Scott

1865

Mr Henry Tolputt Mr John Young

1841

Mr James Scott

1842

Mr James Scott

1866-67

Mr Alexander Forrester Brown

Mr John Utley Ellis

1868

Mr Alexander Forrester Brown

1843

Mr William Reirson Arbuthnot

Mr John Utley Ellis Mr J Ouchterlony

1869

Mr Alfred John Byard Mr John Charles Loch

1844

Mr J Ouchterlony

1845

Mr J Ouchterlony

1870-71

Mr Patrick Macfadyen

Mr James Thomson

1872

Mr Robert Chillingworth Walker

Mr James Thomson

1873

Mr Alexander Forrester Brown

Mr John Binny Key

1874

Mr Patrick Macfadyen

Mr John Binny Key

1875

Mr Clement Simpson

Mr George Arbuthnot

1876

Mr Patrick Macfadyen

1848

Mr George Arbuthnot

1877

Mr Patrick Macfadyen

1849

Mr Henry Nelson

1850

Mr William Mc Taggart

1878

Mr Alexander Mackenzie

Mr William Urquhart Arbuthnot

1879

Mr Alexander Mackenzie

1851

Mr J Ouchterlony

1880

Mr Patrick Macfadyen

1852

Mr Joseph Goolden

1881-82

Mr Clement Simpson

1853

Mr James Scott

1883-84

Mr James Charles Shaw

Mr J Ouchterlony

1885

Mr John Alexander Boyson

Mr James Scott

1886

Mr George Gough Arbuthnot

Mr Robert Orr Campbell

1887

Mr S R Tumbull

1855

Mr Robert Orr Campbell

1888

Mr S R Tumbull

1856

Mr J Ouchterlony

1846

1847

1854

Mr John Jones

Mr D Rasbotham

Mr John Binny Key

1889-90

Mr J A Boyson

1857

Mr William Hamilton Crake

1891-92

Mr S R Tumbull

1858

Mr John Vans Agnew

1893-94

Mr J A Boyson

97


98


1973

Mr A K Sivaramakrishnan

1974

Mr M M Muthiah

1975

Mr P D Whiteley

1976

Mr C D Gopinath

1977-78

Mr J K Clubwala

1979-80

Mr A Sivasailam

1981-82

Mr M K Kumar

1983-84

Mr K V Sitaram

1985-86

Mr N Sankar

1987

Mr M V Murugappan

1988

Mr Hari Eswaran

1989-91

Mr V Chidambaram

1991-93

Mr N Venkataramani

1993-94

Mr N Srinivasan (F&R)

1994-96

Mr L Lakshman

1996-98

Mr N Srinivasan (ICL)

1998-99

Ms Mallika Srinivasan

1999-2000 Mr G K Raman 2000-2001 Mr L Sabaretnam 2001-2002 Mr N Ramachandran 2002-2003 Mr K V Sheety 2003-2004 Mr B Natraj 2004-2005 Mr Murali Venkatraman 2005-2006 Mr V Balaraman 2006-2007 Mr A Sankarakrishnan 2007-2008 Mr Arun Bewoor 2008-2010 Mr Srinivasan K Swamy 2010-2012 Mr T T Srinivasaraghavan 2012-2014 Mr T Shivaraman 2014- 2016 Mr S GPrabhakharan 2016-2017 Mr.Ram Venkataramani

99


FINANCIALS 2018-19

R.G.N. Price & Co. Chartered Accountants Phone : 28413633 I 28583494 E-Mail : price@rgnprice.com Offices at : Mumbai, Bangalore, New Delhi Cochin, Quilon & Calicut

Simpson’s Buildings 861, Anna Salai, Chennai - 600002 8th June 2019

To the members of Madras Chamber of Commerce and Industry Opinion 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, 2019, and the Income and Expenditure Account for the year then ended, and a summary of significant accounting policies and other explanatory information. In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Chamber as at March 31, 2019, and of its financial performance for the year then ended in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

Basis of Opinion We conducted our audit in accordance with Standards on Auditing (SAs) issued by ICAI. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Chamber in accordance with Code of Ethics issued by ICAI and we have fulfilled our ethical responsibilities in accordance with the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation of these financial statements that give a true and fair view of the state of affairs, results of operations of the Chamber in accordance with the accounting principles generally accepted in India. 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. In preparing the financial statements, management is responsible for assessing the entity’s ability to continue as a going concern, disclosing, as applicable,, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the entity or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the entity’s financial reporting process.

100


Auditor’s Responsibility Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit 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 entity’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern. If we conclude that a material uncertainty. exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the entity to cease to continue as a going concern. We communicate with those charged with governance regarding,· among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. For R.G.N. PRICE & CO. Chartered Accountants A.R. Parthasarathy Partner M.No. 205702 FR No. 002785S

101


FINANCIALS 2018-19 THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

BALANCE SHEET as at 31st March 2019

Amount in Rs. Particulars

Schedule No

As at 31st March 2019 Amount

Amount

As at 31st March 2018 Amount

Amount

SOURCE OF FUNDS General Fund

1

8,79,87,945

8,14,37,460

Non Current Liabilities

8

13,20,000

13,20,000

8,93,07,945

8,27,57,460

Total

APPLICATION OF FUNDS Fixed Assets Gross Block

2

Less : Depreciation

3,27,81,738

3,27,13,946

1,19,48,962

1,18,55,502

Net Block Investments

3

2,08,32,776

2,08,58,444

6,27,27,682

5,85,87,381

Current Assets, Loans & Advances: Sundry Debtors

4

10,87,619

2,66,281

Cash and Bank balances

5

15,39,043

3,82,797

Other Current Assets

6

57,72,590

47,61,986

Loans and Advances

7

6,02,983

5,42,686

90,02,235

59,53,750

32,54,748

26,42,115

32,54,748

26,42,115

Less: Current Liabilities & Provisions Liabilities Total

8

Net Current Assets Total Notes on accounts

57,47,487

33,11,635

8,93,07,945

8,27,57,460

12

The schedules referred to above form an integral part of the Balance Sheet President

Vice President

Secretary General

Chennai

8th June 2019

For R.G.N. PRICE & CO. Chartered Accountants A.R. Parthasarathy Partner M.No. 205702 FR No. 002785S

This is the Balance Sheet referred to in our report of even date

102


THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

INCOME & EXPENDITURE ACCOUNT as at 31st March 2019

Amount in Rs. Particulars

Schedule No

Year ended 31st March 2019

Year ended 31st March 2018

INCOME Subscription

76,81,500

76,84,000

Entrance Fee

4,11,000

3,68,500

Fees for CertiÂ?cate of Origin

52,35,201

52,60,536

Seminar Income

28,04,519

48,05,032

Interest on investments

43,18,981

39,48,949

Rental income

30,81,604

29,34,806

38,157

4,04,066

2,35,70,962

2,54,05,889

89,75,200

1,00,97,461

20,17,793

33,35,018

48,64,808

43,26,773

4,20,217

4,66,504

1,62,78,018

1,82,25,756

72,92,944

71,80,133

7,42,459

-

65,50,485

71,80,133

Other Income

9

Total

EXPENDITURE Employee Costs

10

Seminar Expenses Other Expenses

11

Depreciation Total Excess of Income over Expenditure for the year (before taxes) Income Tax (Current)

8

Transfer to General Fund

Notes on accounts

12

The schedules referred to above form an integral part of the Income and Expenditure account

President

Vice President

Secretary General

Chennai

8th June 2019

For R.G.N. PRICE & CO. Chartered Accountants A.R. Parthasarathy Partner M.No. 205702 FR No. 002785S

This is the Income and Exependiture Account referred to in our report of even date

103


FINANCIALS 2018-19

SCHEDULES TO FINANCIAL STATEMENTS

THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

SCHEDULE 1 GENERAL FUND Paticulars As per last Balance Sheet Surplus from Income & Expenditure account transferred Total

104

( in Rs.) As at 31st March 2019

As at 31st March 2018

8,14,37,460

7,42,57,327

65,50,485

71,80,133

8,79,87,945

8,14,37,460


105

Total

Vehicles

-

3,99,292

3,27,13,946

21,500

-

-

3,77,792

-

-

Additions

3,31,500

-

-

-

-

3,31,500

-

-

Deletions

Gross Block

13,93,600

5,31,205

Computers

25,26,888

Furniture and Fixtures

4,73,578

23,06,158

Electrical Installations

Office equipment

57,61,727

1,97,20,790

Cost as at 01.04.2018

Freehold Buildings

Land & Development

Particulars

FIXED ASSET

SCHEDULE - 2

3,27,81,738

13,93,600

5,52,705

4,73,578

25,26,888

23,52,450

57,61,727

1,97,20,790

Cost as at 31.3.2019

SCHEDULES TO FINANCIAL STATEMENTS

22,244 3,47,500

4,68,860 3,44,435

4,20,217

8,984

4,63,335

1,18,55,502

-

41,489

-

-

For the Year

25,26,835

22,90,311

57,61,726

-

Upto 31.3.2018

3,26,757

-

-

-

-

3,26,757

-

-

Deletions

Depreciation

1,19,48,962

6,91,935

4,91,104

4,72,319

25,26,835

20,05,043

57,61,726

-

Upto 31.3.2019

2,08,32,776

7,01,665

61,601

1,259

53

3,47,407

1

1,97,20,790

As at 31.3.2019

2,08,58,444

10,49,165

62,345

10,243

53

15,847

1

1,97,20,790

As at 31.3.2018

Net Block

( in Rs.)

THE MADRAS CHAMBER OF COMMERCE & INDUSTRY


FINANCIALS 2018-19 THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

SCHEDULES TO FINANCIAL STATEMENTS SCHEDULE - 3 INVESTMENTS Particulars

( in Rs.) As at 31st March 2019

Fixed Deposits with Sundaram BNP Paribas Home Finance Ltd Term Deposit held with Banks Total

As at 31st March 2018

50,00,000

50,00,000

5,77,27,682

5,35,87,381

6,27,27,682

5,85,87,381

SCHEDULE - 4 SUNDRY DEBTORS - UNSECURED CONSIDERED GOOD

( in Rs.)

As at 31st March 2019 As at 31st March 2018

Particulars Debts Outstanding for a period exceeding six months relating to Seminar participation fees, Sponsorship, Certificate of Orgin, Advertisement fees, etc.

5,040

15,930

Other Debts

5,04,969

2,50,351

Rent Outstanding

5,77,610

-

10,87,619

2,66,281

Total

SCHEDULE - 5 CASH AND BANK BALANCES Particulars Cash & cheques on hand

( in Rs.) As at 31st March 2019

As at 31st March 2018

24,651

46,849

15,14,392

3,35,948

15,39,043

3,82,797

Balance with Scheduled Banks Current Account Total

SCHEDULE - 6 OTHER CURRENT ASSETS - UNSECURED CONSIDERED GOOD Particulars

As at 31st March 2019

( in Rs.) As at 31st March 2018

Interest accrued on Investments

10,51,891

9,88,467

Advance Tax & tax deducted at source

47,20,699

37,73,519

Total

106

57,72,590

47,61,986


SCHEDULE - 7 LOANS AND ADVANCES - UNSECURED CONSIDERED GOOD Particulars

As at 31st March 2019

( in Rs.) As at 31st March 2018

Deposits

2,99,459

3,14,959

Prepaid expenses

1,55,336

1,36,427

Advance

1,48,188

91,300

6,02,983

5,42,686

Total

SCHEDULE - 8 NON CURRENT LIABILITIES Particulars

( in Rs.) As at 31st March 2019

As at 31st March 2018

Rent Deposit

13,20,000

13,20,000

Total

13,20,000

13,20,000

CURRENT LIABILITIES Particulars

( in Rs.) As at 31st March 2019

As at 31st March 2018

4,54,713

3,34,340

14,41,968

17,61,933

Statutory Dues

4,71,708

1,98,277

Subscription, Advertisement & Seminar Fees etc received in advance

1,43,900

3,47,565

Income Tax Provision (Refer notes on accounts Sch.12 (2a) (iii))

7,42,459

Sundry Creditors Provision

Total

32,54,748

26,42,115

SCHEDULE - 9 OTHER INCOME

( in Rs.) For the year ended 31st March 2019

For the year ended 31st March 2018

Advertisement Income

19,500

69,100

Miscellaneous Income

4,900

1,34,965

Profit on sale of assets

13,757

2,00,001

Total

38,157

4,04,066

Particulars

107


FINANCIALS FINANCIALS2018-19 2018-19

SCHEDULES TO FINANCIAL STATEMENTS

THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

SCHEDULE -10 EMPLOYEE COST

( in Rs.) For the year ended 31st March 2019

For the year ended 31st March 2018

85,33,920

93,97,092

Contribution to Provident & other funds

3,34,148

5,98,928

Staff Welfare

1,07,132

1,01,441

89,75,200

1,00,97,461

Particulars Establishment cost

Total

SCHEDULE - 11 OTHER EXPENSES Particulars Subscription to Associations

( in Rs.) For the year ended 31st March 2019

For the year ended 31st March 2018

2,67,700

2,67,250

15,88,217

13,45,348

Printing & Stationery

4,01,601

4,91,460

Electricity Charges

3,94,266

3,32,889

Telephone Charges

1,12,929

1,31,358

Travel Expenses

1,00,506

1,32,010

Rates and Taxes

5,49,601

4,52,282

Repairs and Maintenance

7,08,258

6,88,198

Postage and courier

87,470

1,15,964

Insurance

36,019

7,376

Audit Fee

50,000

50,000

Other services

56,100

20,000

4,38,117

1,25,000

Rent

15,500

47,500

Miscellaneous Expenses

58,524

1,20,138

48,64,808

43,26,773

Meeting expenses

Payment to Auditors

Professional & Consultancy Expenses

Total

108


SCHEDULES FORMING PART OF ACCOUNTS

THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

SCHEDULE 12

2. NOTES

Notes on Accounts

a. Income Tax:

1.SIGNIFICANT ACCOUNTING POLICIES:

i. The Chamber had received an Order under section 143(3) dated 26th December 2018 for assessment year 2016-17 demanding tax amounting to Rs. 6.53 lakhs. An appeal has been filed before the Commissioner of Appeals (Income Tax) against the demand made. The Chamber has paid Rs. 1,30,620/- for the Asst. Year 2016-17 under protest and treated the amount as recoverable.

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%

ii. The Appeal filed by Chamber in earlier year before the Commissioner of Income Tax (Appeals) for the AY 2014-15 has been decided in favor of the Chamber vide its order dated 05.04.2019 nullifying the demand raised to the extent of Rs.11.39 lakhs. iii. Provision for tax represents tax liability on account of non application of accumulated surplus for earlier year amounting to Rs. 7,42,459/- under section 11 of the Income Tax Act 1961.

b. Previous yearâ&#x20AC;&#x2122;s figures have been regrouped / reclassified wherever necessary to conform to the presentation of current yearâ&#x20AC;&#x2122;s accounts.

Investments: Investments are stated at cost.

Retirement benefits : Liability towards gratuity is based on actuarial valuation by LIC. Contribution towards Superannuation fund is maintained by LIC. All contributions are charged to revenue when due. With regard to leave encashment, provision is made on the basis of encashment of leave upto a maximum of 180 days at the time of retirement or reaching the age of superannuation calculated at the last drawn salary rates.

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OUR SERVICES

THE MADRAS CHAMBER OF COMMERCE & INDUSTRY OUR SERVICES

Information Dissemination Updates the members on an on-going basis, the changes in rules, regulations, policies and legislations impacting businesses, market opportunities, emerging technologies and other relevant matters Commissions studies on subjects of importance which affect the trade & industry as and when required Publishes a Directory of Members once in two years for distribution Circulates a bimonthly Bulletin “Chamber In Touch” with host of relevant information Recommend annually to member companies Commercial Holidays and Charter Party Holidays to be observed.

Networking Opportunities Provides a platform to network and promote one’s business, through the various meetings, workshops, round tables etc. periodically organised.

Liaising , Lobbying & Advocacy Liaise and maintain a good rapport with different government departments, institutions, Diplomatic Missions in Chennai. Represent the issues of members to appropriate authorities for grievance redressal. Facilitate periodical interactions with Government officials for sharing our inputs and drawing their attention to ground issues to lobby for policy changes. Facilitates knowledge sharing between members and industry experts Provides expert advice/ counseling to members through various expert committees.

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Knowledge updation and capacity building Organize seminars, workshops and conferences on topics of current interest for the benefit of members. Conduct trainings and workshops on finance , managerial , taxation , HR topics for the executives and staff Provide trainings for fresh recruits of member companies Offer certificate / short duration courses for employees on various relevant topics like Industrial Engineering , Taxation , EXIM procedures etc

Trade Facilitation Issuing Certificate of Origin for export shipments and attesting various other documents for members. Issuing visa recommendation letters for member companies for business visits abroad. Organize meetings with visiting delegations to foster business collaborations. Organize outbound delegations / exposure visits / participation in overseas trade fairs for member companies.

Arbitration Offer professional assistance for Arbitration of commercial disputes between member companies and other companies.


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MCCI Annual Report 2019  

It is a matter of great honour and pride for me to present the 183rd Annual Report of the Madras Chamber of Commerce and Industry (MCCI).Thi...

MCCI Annual Report 2019  

It is a matter of great honour and pride for me to present the 183rd Annual Report of the Madras Chamber of Commerce and Industry (MCCI).Thi...

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