FAPCCI welcomes Union Budget 2011-12

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized a Press Meet on the“Reflections on Union Budget 2011-12” on 28^th February 2011 at Surana Udyog Auditorium, Federation House, Red Hills, Hyderabad.
The Press Meet was presided over by Mr. Shekhar Agarwal, President, FAPCCI. Mr. V.S. Raju, Sr.Vice President, Mr. Devendra Surana, Vice President, S. Subba Rao, Chairman, HRD & Industrial Relations, M. Srirama Murthy, Chairman, Industrial Development, Mr. B.G. Shastry, Sr. Advisor, Mr. O.P. Goenka, Advisor, Agriculture, K. Bhaskar Reddy, Chairman, Agriculture, Mr. Abhay Kumar Jain, Chairman, Direct taxes, Mr. Harigovind Prasad, Chairman, Economy, Mr. Arun Luharuka, Co Chairman, from Economy Committee and Mr. Laxmi Niwas Sharma, Past president were addressed at the Press Meet.

The overall response to the Budget 2011-12 was pleasantly normal. In his assessment the President was happy to note the thrust given to Agriculture Sector and the enhanced flow of funds to the Infrastructure Sector. FII limit for investment in corporate bonds which has also been raised is encouraging.

There have been no changes in Excise Duties and Service Charges, though more services would be brought under Service Tax net. Minimum Alternate Tax was raised slightly by 0.5 per cent.

The allocations to refinance banks for incremental lending to MSMEs were reassuring factor.

15 agricultural mega parks should provide impetus to food processing sectors, while a major boost was given to palm oil cultivation. The supply chain was to be brought under surveillance and products would move hopefully from ‘farm to mouth’. Storage and warehousing is to be fast track. Developing PPP projects would be a plus factor.

Tax free bonds to the extent of Rs.30,000 crores has been proposed for issue by Government undertakings.

Priority has been given to education and higher studies and grants to Universities and other Academia.

National Skill Development Fund proposes to garner the youth talent.

Health plans for unorganized sector, Green India Plans were some of the positive factors. The surcharge for Corporate Sector was reduced to 5%.

Interest subvention to farmers is a better alternative than debt relief. The prediction of 9% GDP as against 5% could be achievable. Overall, the budget was rated at an average 8 / 10 points by the members.

India – Indiana, USA Trade Meet at FAPCCI on 25th Feb 2011

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized an interactive meeting with His Excellency Mr. Mitchell Roob, Secretary of Commerce, State of Indiana, USA on “Indo-Indiana Trade & Commerce Relations” at J.S. Krishna Murthy Hall, Federation House, Hyderabad. Mr. Mitchell Roob, Secretary of Commerce, State of Indiana, USA was participated as chief guest for the occasion along with 16 other Indiana business delegates Mr. Shekhar Agarwal, President, FAPCCI, Chairman Mr. Srinivas Ayyadevara, International Trade committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI and Committee Members, FAPCCI and import & export members are participated at the meeting.

Mr. Mitchell Roob while delivering his address Mr. Roob presented the power point presentation on USA economy and briefing us the opportunities available in USA with International Investment of $37 Billion & 148,000 Hoosiers employed by International Investors. Mr. Roob said that Indiana’s Telecommunications Deregulation Act has brought increased competition, leading to new investments and jobs. He also said Indiana Exempts certain income derived from qualified patents from the calculation of a company’s tax liability.

Mr. Roob said that Indiana is one of the nation’s top four life science leaders in terms of the number and concentration of life science jobs (BIO/Battelle 2010). Since 2002, nearly $2.5 billion has been invested in life sciences projects in Indiana. Indiana is home to over 370 tier 1, 2, and 3 automotive suppliers. The supplier base provides components including engine, drive train, suspension, electronics, HVAC, interior and exterior trim. High tech workers in Indiana earn 61% more than the state’s average worker. Since 2005 Indiana has added over 6,500 jobs in agriculture, attracted more than $5.3 billion in private capital investment.

Mr. Shekhar Agarwal President, FAPCCI, said that United States and India play a significant role in the global arena. USA is India's largest export destination and also one of the leading foreign investors in India. USA is the third largest contributor of Foreign Direct Investment (FDI) in India. There are several areas where there is abundant scope to further improve economic cooperation between India and USA. Opportunities for progress exists especially in areas like communication infrastructure, IT, telecom, IT-enabled services, data centres, software development, and other knowledge industries such as pharmaceuticals and biotechnology.

Mr. Agarwal, even said that Recent visit of US President Mr. Barack Obama deepened India-USA co-operation in pursuit of clean energy technologies including the creation of new clean energy research centre and continuing joint research into solar, biofuels, shale gas and building efficiency These would definitely help India to develop its space technology and defense industry.

Mr. Agarwal suggested that Andhra Pradesh would be happy to share its experience and expertise with USA in various areas ranging from agriculture and small scale Industries to infrastructure projects such as roads, railways, telecommunications etc, and the scope of establishing business co-operation, joint-ventures, technology import and/or making investment in USA especially in Indiana.

Mr. Rajeshwara Rao, Secretary General, propose vote of thanks to His Excellency Mr. Mitchell Roob, Secretary of Commerce, State of Indiana, USA, for participating and addressing the members. Mr. Rao expressed his sincere thanks to Dr. Surabhi Garg, Vice President, US India Political Action Committee and Director, Alliance of US India Business (AUSIB) and also to the members of the Business Delegation of Indiana, USA. FAPCCI presented the Literatures & Mementos to Mr. Mitchell Roob, Secretary of Commerce, State of Indiana, USA and also to the other delegation from Indiana, USA which includes Mr. Stephen J. Akard, Director, International Development, Indiana Economic Development Corporation (IEDC) & Dr. Surabhi Garg, Vice President, US India Political Action Committee and Director, Alliance of US India Business (AUSIB).

Mr. Rao expressed his thanks to Invitees, Members of Managing Committee, Past-Presidents & Members of the Federation, and Press & Media for participating in the meeting.

Social Impact of global Financial Crisis

Mr. Shekhar Agarwal, President, FAPCCI welcomed member guests and Prof Y.R. K. Reddy. He was optimistic about the financial stability in India and the pursuance of prudential policies preventing financial institutions from excessive risk taking and protected the capital market from becoming extremely turbulent and volatile.

Prof Y.R.K. Reddy, Consultant Global Corporate Forum, IFC, Washington, addressed the members of FAPCCI, HMA, ISTD and NIPM. He spoke on “Social Impact on Financial Crisis”. Prof Reddy commended good things enumerated by our Prime Minister and explained various factors leading to the impact of global financial crisis, which arose more out of social indicators rather than financial. While the current financial crisis and global economic downturn did not originate in Asia, none the less Asian countries and economies and their financial markets felt its impact. These are likely to be deepened substantially over the coming years. The most obvious areas of impact have been exports and equity markets which have declined sharply across the region. But the stresses in currency and credit markets have emerged well and domestic demand has softened.

The sensitivity has been heightened by the export led growth strategies of many countries. Social economic impacts of this crisis have been felt on Sub-National, Regional Economies, Income distribution, poverty, education, health and empowerment of women. An economic and financial crisis can frustrate development. Though many countries recover quickly they cannot achieve or returned to the same growth path. A crisis of this sort has long term developmental implications; measures need to be adopted to mitigate the impact of vulnerable.

Prof. Reddy added that the cause of the crisis was not sub-prime mortgage lending, it was just a trigger, but failed financial industries from investors around the world. There was tremendous trading by banks than regular banking; they made excessive revenue rather than corporate profit. Most of the financial activities were socially useless and did not contribute to the development or growth.

India circumvented this global crisis by sticking to pure banking policies rather than indulge in heavy trading. The social financial measures were intact and helped stability. If any impact was felt in India, it was the impact of the cost of inward remittances from all over the globe; transmission mechanism and global pricing created the setback, exports were terrible affected as there was a phenomenal decline. FDI further decline by 40% as the affected countries has no recourse but to draw from their overseas investments. Markets became volatile, welfare and social measures in education, youth employment were affected. India ranked 67^th on Nomura’s Food Vulnerability Index. Similarly the Middle East countries suffered tremendously; there was burgeoning youth unemployment which was torturous and painful. Repatriations of immigrants added to the woes of employment opportunity.

There was half a decade of lost human potential and lost human capital, human indicators went haywire and could not be ignited. He ended by saying “Corporate Social Responsibility is not just ‘Budgetary Allocations’ but ought to be an active participant in social upliftment.

Mr. Naresh Gelli, President, HMA, offered his remarks on the lecture and hoped that, speedy alternative remedial measures should be able to limit the extensive damages due to the crisis. India should look inwards for its sustainable growth. Achieving 9% growth rate is not impossible.

Vote of thanks was proposed by Ms. Hema Jain, Secretary, HMA.

Workshop on Unlock the Hidden Value “Brand Creation, Valuation and Assessment”

The Workshop on Unlock the Hidden Value “Brand Creation, Valuation and Assessment” was organized at FAPCCI on 25^th February 2011 at Surana Udyog Auditorium, Federation House, Red Hills, Hyderabad. Mr. Vikash Nahar and Mrs. Madhubala Nahar, both Directors from World Wide Ad Net were the key speakers to conduct the Workshop on Brand Valuation and explained its importance under ISO 10668. Mr. Shekhar Agarwal, President, FAPCCI, Mr. Hari Govind Prasad, Chairman, Economy and Civic Affairs Committee, FAPCCI, Mr. M.V. Rajeshwara rao, Secretary General, FAPCCI, Mr. Goving, Senior Manager, Citi Bank and many other guests and numerous participants are attended at the workshop.

Mr. Shekhar Agarwal, President, FAPCCI welcomed the guests and participants and hoped that this Workshop would open the doors to better businesses through enhanced brand valuation of companies.

The Chairman in his value additions spoke on the importance of brand valuation and asset creation and the reflections in balance sheets in the financial statements.

Mr. Vikash Nahar, Director, WWAN spoke on the role of auditors and redefined their professional requirements especially in assessing the valuation of intangible assets and how the companies stand to gain in the global markets. He made an excellent presentation on the brand asset valuation and revealed various surprise features thereon.

Mrs. Madhubala Nahar, Director, WWAN, Chennai made an excellent Power Point Presentation on IFRS – the next big thing, in relation to accounting systems that are relevant to upgrade the financial system and enter the global competition. IFRS 3 grants a great visibility to brand valuation and enhances its significance.

The liability question and answer session was moderated by the Chairman and promptly reciprocated by the guest speakers.

Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI proposed vote of thanks.

The program was initiated by Mr. Hari Govind Prasad, Chairman, Economy and Civic Affairs Committee, FAPCCI by inviting Mr. Vikash Nahar and Mrs. Madhubala Nahar. The event was sponsored by Starpowerz – Associate CITI Bank Business Lending.

Excise Day Celebrations @ Ravindra Bharathi

Environmental Friendly Eco Green Run “HarithOn”

The Planet 3 Protection Alliance in association with The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), AP Pollution Control Board, AP Tourism jointly organized an Environmental Friendly Eco Green Run “HarithOn” with thousands of College and School students and environment lovers on 20th Feb 2011 at People’s Plaza.

The Chief Guest Mr. Jayaprakash Narayan said that due to the usage of non degradable material such a plastic there is serious threat to the living of human beings and other species. He also said that “Environment is just like window to the soul of Mother Earth” and said that youth play an important role in the society.

Honorable guest Mr. Shekhar Agarwal said that we are all connected and we make little footprints on this world for a big impact. We cannot change the world by ourselves, but together we can do a lot! So I am happy we made some impact today. We don’t have to struggle to make this world a better place. We can connect our energy, have fun and with that we can help others. It’s easier than we think!

Mr. M.J. Akbar, Officer on special duty, Buddha Poornima Projects, Mr. M. Laxman Reddy, Chairman, MLR Institutions, Mr. Srirama Murthy, Chairman, Industrial Development Committee, Mr. Suraj Prasad Agarwal, Past president, FAPCCI, Mr. Ravadi Kantha Rao, Secretary, Planet 3 Protection Alliance were also presented at the occasion.

Investors Awareness Meet - 2011

Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) jointly with Mahaa TV organized an Investors Awareness Meet – 2011 on February 19, 2011 at 9am at FAPCCI. The meet presented by the eminent speakers from Stock Markets, Trade, Stock exchange like Dr. Brahmaiah, Director, Hyderabad Stock Exchange, Mr. Y. Harishchandra Prasad, Vice President, CII, Southern Region, Dr. Bhaskar Narayana, CFO Director, NATCO Pharma, Mr. C. Kutumba Rao, Stock Market, Analyst, Dr. V V L N Sastry, CEO, First Call equity India, Mumbai, Mr. Daljeeth Kohli, Research Head, India Nivesh CNBC, Nivesh Patashala, Mr. Subhash, Technical Analyst, President: WizTech LLC., USA, Mr. D. G. Sukumar, Trade Analyst, Regional Head, India Nivesh and Mr. Satish Nair, India Nivesh.

Mr. Shekhar Agarwal, President, FAPCCI in his welcome address stated that it was Hon’ble Minister Mr. Salman Khurshid, Ministry of Corporate Affairs who initiated such an extensive campaign in the interest of investors, their protection and end benefits, and such an awareness programme is being launched to strengthen the common man and propagate financial literacy as a part of INCLUSIVE GROWTH.

This is a very good beginning and should be an ongoing continuous process, the goal is to sustain and to stabilize our economy in order to withstand even in the biggest financial crisis.

He expressed that this is one such event that promotes investment shrewdness & skills, both of practical & academic importance. The intention is to equip the younger generation with an impetus, to invest wisely, after careful study of sectorial markets. Every such event is an opportunity to empower the scope of investments & strengthen the Nations economy.

Mr. Ramakanth Inani Chairman: Banking, Insurance & Capital Markets Committee, FAPCCI in his Chairman Address he said that the aftermath of the unexpected Satyam Scam awakened India to new set of norms and polices. The ministry of corporate Affairs realized this and began to undertake measures to patch up the loopholes to prevent future corporate frauds. It has now drafted the Companies Bill, 2009 and the proposed bill is predicted to be sufficient to counter big financial scams like the Satyam.

He said that the India has witnessed large inflow of foreign investment and the emergence of Multi Nationals thereby also increasing the expansion and growth. Some of the Indian companies enjoying market capitalizations, are among the top companies in the world.

Further Chairman said SEBI has introduced number investors friendly measures, in recent times, some which directly relevant to investors like Extension of trading hours, Removing of entry loads in Mutual Funds, Discloser of Investor complaints and Arbitration details on stock exchange website as well as on that of depositories, Securities lending and borrowing frame work, Transparency in dealing between a client and stock broker and strengthening the KNOW YOUR CLIENT (KYC) norms, Additional mode of payment through application supported by blocked amount (ASBA )in IPO’s and NFO’s by Mutual Funds), Mutual funds – empowering investors through transparency in payment of Commission and load structure, No entry load for Mutual Fund Investments (MFI) etc.,

Mr. Devendra Surana, Vice President, FAPCCI proposed Vote of Thanks for inaugural session.

In the technical session Mr. C. Kutumba Rao, Stock Market, Analyst gave presentation on Bird’s Eye view of Indian Stock Market, Mr. Daljeeth Kohli, Research Head, India Nivesh gave presentation on Fundamentals on Capital Stock Market – India & Global, Dr. V V L N Sastry, CEO, First Call equity India, Mumbai on Capital Markets - Opportunities in India and Global Market, Mr. Subhash, Technical Analyst, President: WizTech LLC., USA on Technical Analysis – Automatic Trading and Vote of Thanks by technical session Moderator – Mr. D. G. Sukumar, Trade Analyst, Regional Head, India Nivesh

In the Technical Session II Mr. D. G. Sukumar, Trade Analyst, Regional Head, India Nivesh gave presentation on Traders Psychology & Risk Management, Mr. Y. Harishchandra Prasad, Vice President, CII, Southern Region gave presentation on Sectorial Analysis – Infrastructure and Power Sector.

Expert’s clarified number of doubts raised by members.

Meeting ended with the vote of thanks.

Investors Awareness Meet - 2011 (Telugu)

'HarithON' Green Run on Feb 20th, 7am at People's Plaza

India – Malaysia Bilateral Trade

The federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized an interactive meeting with His Excellency Mr. Zainuddin A. Jalil, Trade Commissioner, Consulate General Of Malaysia (Trade Section) Chennai. “India – Malaysia Bilateral Trade and the Opportunities for Indian Businessmen” on 18^th Feb 2011 at J.S. Krishna Murthy Hall, Federation House, Hyderabad Mr. Shekhar Agarwal, President, FAPCCI, Chairman Sri Srinivas Ayyadevara, International Trade committee, FAPCCI, Co-Chairman Sri C.V. Hariharan FAPCCI, and import & export members are participated at the meeting.

Mr. Zainuddin A. Jalil Trade Commissioner, Consulate General of Malaysia (Trade Section) Chennai, presented the power point presentation on “India – Malaysia Bilateral Trade and the Opportunities for Indian Businessmen”. In this occasion Mr. Jalil invited Indian businessmen and Entrepreneurs’ to participate in the forthcoming international trade and business exhibition “Malaysia International Halal Showcase” from 6 to 9^th April 2011 at Kuala Lampur, Malaysia. He explained the priorities and opportunities of the forthcoming trade exhibition. Particularly he is invited from Mining, Service, Business Networking organizations, meet manufacturers and other Food product based exporters. He explained the facilities to the participants from the Malaysian government and he offered incentives room 4Days & 3Nights and Transfers (airport-hotel-venue) free transportation in the city etc. He requested the participants for more details to contact on E Mail: chennai@matrade.gov.my or log on www.matrade.gov.my.

Mr. Shekhar Agarwal President, FAPCCI, explained the Economic & Commercial Relations are emerging as the mainstay of the bilateral relationship. Indian companies have invested about US $ 2 billion, making it the 7^th largest investor in Malaysia.

It is understood that India & Malaysia will be signing a Comprehensive Economic Cooperation Agreement (CECA) today. The Malaysia-India CECA is a free trade agreement that covers trade in goods and services, investment, as well as economic cooperation. At present there are more than 77 Indian companies’ including 61 Indian joint ventures operating in Malaysia. The highest investment proposals have been in the telecommunications, followed by fuels (power and oil refinery) sector and Roads and Highways.

India is an important trading partner for Malaysia and bilateral trade between the two has been on the rise.

Mr. Srinivas Ayyadevara International Trade committee, FAPCCI, presented the Literature & Memento to Mr. Zainuddin A. Jalil Trade Commissioner, Consulate General of Malaysia (Trade Section) Chennai.

Joint Press Release on “Controversies between IALA and GHMC”

Interactive Meeting on “Indo-UK Trade & Commerce”

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with UK Trade and Investment (UKTI) and London Chamber of Commerce and Industry (LCCI) jointly organized an interactive meeting on “Indo-UK Trade and Commerce Relations” on February 08, 2011 at 05.15 pm at Surana Udyog Auditorium, Red Hills, Hyderabad.

Ms. Ruma Deb, World Trade Executive, London Chamber of Commerce and Ms. Elizabeth Fehnrich, International Trade Advisor, UK Trade and Investment were the key speakers at the meeting. Mr. Shekhar Agarwal, President, FAPCCI, Mr. V.S. Raju, Senior Vice President, FAPCCI, Mr. Srinivas Ayyadevara, Chairman, International Trade Committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General and other twenty Trade and Investment business delegates from United Kingdom and many Businessmen, professionals from the state of Andhra Pradesh participated at the interactive session.

Ms. Ruma Deb invited investments to London and she said that the – London Chamber of commerce provides over 1,20,000 export and import documents each year including certificates of origin and import certificates, thereby facilitating trade between the UK and the rest of world. The London is the ideal business location it has five international airports, the largest stock exchange in the world, over 550 banks.

Ms. Deb also said that the London chamber is offering translation services for non UK based investors in technical, commercial and legal documentation areas and software translation, helping companies to communicate with their customers. The London chamber invites investments in professional, legal, architectural and retail sectors.

Ms. Elizabeth Fehnrich explained that the UK Trade & Investment is the government department thet helps UK based companies succeed in the global economy and UKTE also helps overseas companies bring their high quality investment to the UK’s dynamic economy – an acknowledged as Europe’s best place from where could succeed in global business.

Mr. Shekhar Agarwal explained the States potential in trade and investment and business opportunities in Andhra Pradesh in his welcome address. He said that Andhra Pradesh is one of the fastest growing economies in world and became one of the hottest investment destinations among the various investment options in the fast growing emerging economies. The State is Ranked 2nd in the country in attracting investments. In a recent World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business. He offered foreign investors, foreign institutional investors, venture capitalists, and portfolio managers to leverage vast pool of natural, human and intellectual resources of Andhra Pradesh.

The booming Andhra Pradesh economy has a lot of opportunities and great potential exists for increasing trade and investment in the areas of Energy, Higher and Vocational Education. Biotechnology, Healthcare, Information Technology and Food Processing, among other sectors such as manufacturing, automobiles and infrastructure to achieve the target of taking the bilateral trade to US $ 24 billion by the year 2015.

Mr. Srinivas Ayyadevara said about the bilateral trade and investments relations. He said in his address that the UK is the most popular business destination in Europe for Indian companies. 700 out of the 1200 Indian firms in the EU operate from the UK. The total trade between India and UK stood at $12.5 billion in 2008-2009. The latest figure says in the year 2009-2010 the trade value was US $ 10.6 billion. India’s ambition is to double its bilateral trade with UK to $24 billion in the next five years.

The main products that India exports to UK are leather and leather items, gems and jewelry, footwear, textile, engineering goods, metal manufacturers, readymade garments, chemicals, power generating equipments, software services, pharmaceuticals, chemicals, marine products, and other agricultural products like tea, nuts and preserved fruits, rice, and raw vegetables. India imports industrial machinery and chemicals, transport equipments, gold, rough diamonds, power generating and telecom equipments and non-ferrous metals from UK. According to UK’s official note, India was UK 15th largest export market. Import from India is 25th largest.

India is becoming major investor in UK. More than 180 Indian companies have invested in IT sector in UK. Indian companies employ approximately 90,000 people in UK. UK being the world’s sixth largest manufacturer, a hub for science and innovation and gateway to EU will continue to remain an attractive place to do business for Indian companies.

UK and India are leaders in ensuring that knowledge sectors drive inclusive economic growth in the 21st century. There is a need for increasing close partnership across all stages of learning, from support to primary school children, between UK and Indian Universities, to research into the most advanced technologies.

Mr. V.S. Raju honored the guests and offered vote of thanks.

Mr. M.V. Rajeshwara Rao welcomed the guests.

Energy Smart Model for Organizations - 2008

The Energy Conservation Mission (ECM) and The Institute of Engineers (India) in association with FAPCCI are jointly organizing an Awareness Program on “Energy Smart Model for Organizations” on February 05, 2011 at 05.15 pm at Surana Udyog Auditorium, Red Hills, Hyderabad.

Er. G.K. Anand, Coordinator, Energy Conservation Mission was the chief guest. Prof. T. Narayan, Chairman, IE (India) – APSC, Hyderabad, Mr. N. Ram Mohan, Project Director, NEDCAP, Hyderabad, Mr. Shekhar Agarwal, President, FAPCCI, Mr. V. Anil Reddy, Chairman, Energy Committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI and many Businessmen’s, professionals are participated at the interactive session.

Er. G.K. Anand gave a presentation on “Energy Smart Model for Organizations – 2008” and “Structure of ESM” at the occasion, and said that the – Energy Smart Model for Organizations – 2008 (ESM – 2008) is a frame work that helps organizations successfully address issues related to efficient snergy utilization and conservation, environment improvement and waste reduction etc. ESM guides organizations in establishing, measuring, monitoring and improving process and establishing programme for continuous improvement.

Mr. Shekhar Agarwal said in his welcome address is that the -ESM programme helps for Efficient utilization of Energy, Energy Conservation and Reduction in Pollution and Wastages, Poised for certification on par with any International Standard, ECM`s maiden attempt is most beneficial to Indian Organizations. It results in huge savings in energy, resources and money and also ensure clean environment.

Mr. Anil Reddy said that the energy is a vital input for the development of economy and for the improvement of quality of life. Considering the vast potential of energy savings and the benefits of energy efficiency, the Government of India, enacted the Energy Conservation Act, 2001 (52 of 2001), which provides the much-needed legal framework and institutional arrangement for embarking on an energy efficiency drive.

Prof. T. Narayana, Mr. N. Ram Mohan, Project Director, NEDCAP also spoke on the occasion.

Mr. M.V. Rajeshwara Rao welcomed the guests.