FAPCCI and London Chamber of Commerce signed MoU

The Federation of Andhra Pradesh Chambers of Commerce & Industry organized an interactive meeting with Mr. Subhash V. Thakrar, Chairman, London Chamber of Commerce and Industry today 27th November 2012 at Federation House, Red Hills, Hyderabad.

In this occasion FAPCCI and London Chamber of Commerce signed Memorandum of Understanding to foster friendship and pursue trade and investment opportunities.On this occasion, FAPCCI and London Chamber of Commerce and Industry (LCCI), London signed a Memorandum of Understanding to foster friendship and pursue trade and investment opportunities in their respective economic regions by developing a friendly and cooperative relationship.  The MoU was signed by FAPCCI President Mr Devendra Surana and LCCI Chairman Mr. Subhash V. Thakrar. 

Accompanying a high level delegation of top London business people, Mr. Subhash V. Thakrar, Chairman, London Chamber of Commerce and Industry stated that their main mission is to promote London as the destination of choice for investors and international trade.   He mentioned that India is the world's second fastest growing economy, experiencing rapid urbanization and a growing consumer class. The Indian government has a target to invest £1trillion into infrastructure projects over the next five years. This all presents huge economic opportunities for London, both in attracting investment into the city and exporting goods, services and skills. For the last three years, India has already been among the top four global investors into London and the country's leading multi-nationals are already major employers in the UK.

On this occasion, FAPCCI and London Chamber of Commerce and Industry (LCCI), London signed a Memorandum of Understanding to foster friendship and pursue trade and investment opportunities in their respective economic regions by developing a friendly and cooperative relationship.  The MoU was signed by FAPCCI President Mr Devendra Surana and LCCI Chairman Mr. Subhash V. Thakrar. 

Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Mr. Colin Stanbridge, CEO, London Chamber of Commerce and Industry also spoke at the occasion. 

National Seminar on “IT & ITEs” on Jan 25, 2013: Mr. Ponnala Lakshmaiah, Minister for IT & Communications, Government of AP

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with EduGate Foundation and Edex - The New Indian Express Daily organized Press Meet today on November 23, 2012 on proposed National Seminar & Exhibition on “IT & ITEs: Trends and Demands, Opportunities & Challenges” on January 25, 2013 at FAPCCI, Hyderabad.

Mr. Ponnala Lakshmaiah, Hon’ble Minister for Information Technology & Communications, Mr. Devendra Surana, President, FAPCCI, Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Dr. Ashok Kumar Kedia, Chairman, IT Committee and Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI have addressed the media.

Mr. Ponnala Lakshmaiah, Hon’ble Minister for Information Technology & Communications has announced the National Seminar on IT & ITEs at this time and he interacted with media on several Information Technology and Communications related subjects.

Mr. Ponnala Lakshmaiah, Hon’ble Minister for IT& Communications said that the State of Andhra Pradesh is pioneer in offering the best incentives and facilitations for the growth of the ICT sector, with business friendly policies and proactive approach of the Government. The ICT Policy 2010-2015 is to make Andhra Pradesh one of the forerunners in IT sector in the Country through Provision of congenial, industrial friendly and proactive climate for IT companies to locate, grow and sustain their operations most competitively in a hassle-free environment in the State. Creation of employment opportunities to the educated youth of all sections of the Society across all regions, Achieving higher levels of export turnover resulting in enhanced Andhra Pradesh, home to more than eighty million people, is the fourth largest state in India. With the third largest nominal GDP of 123 Billion US$ in 2011, it has emerged as one of India's fastest growing states and witnessed a tremendous decadal growth of 56.2% and per capita GDP growth of 43.9%. Over the last decade AP has transformed itself into a leading destination for IT / ITES sector and today Andhra Pradesh is the fourth largest exporter contributing to approximately 15% of India's software exports.

The Andhra Pradesh government's proposal for setting up a seven Information Technology Investment Region (ITIR) around the city, and two at Vishakhapatmam is giving a much-needed boost to the state's efforts to attract fresh investments into the industry. The ITIR would be developed in an area of 202 sq km (50,000 acres) in two phases over a period of 25 years. The ITIR is aimed at attracting an investment of Rs 2.19 lakh crore in the ITITES sectors and create direct employment for 15 lakh youths, according to state Information Technology Mr. Ponnala said.

Mr. Devendra Surana, President of FAPCCI said that the Seminar on National Seminar & Exhibition on “IT & ITEs: Trends and Demands, Opportunities & Challenges” will focus on Trends, Demands, Opportunities in IT and ITEs sector, particularly IT services, Animation, Gaming, Telecommunications, IT Entrepreneurship, PPP model in IT sector, IT in domestic Growth, Cloud Computing, Emerging Employment and Investment Themes in IT & ITEs, US policy: Effect on Outsourcing, BPO Industry, Internet Security and Challenges, Indian Gaming and Animation – International Strategy, New Generation Technologies – Opportunities and Challenges, IT & ITEs and Banking Services etc.

Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI said that –we invited eminent speakers from Google, Microsoft, Wipro, Face book, TCS, IBM, Mahindra Satyam, HCL, Genpact, Intel, Deloitte, Dell, IIIT, InfoTech, NIIT and Officials from IT & ITEs department, Govt. of AP and India, Entrepreneurs from Gaming and Animation sector, Banking and Finance, Telecommunications, IT & ITEs services has been invited to interact with participants.

Interested persons of attend the Seminar may contact on 040-2339 5515 for registration.

::Video:: Investment opportunities in Andhra Pradesh: Devendra Surana, President, FAPCCI

Revenue collection in the last financial year reached to Rs. 97000 Cr: Mr. M.K. Singh, IRS., Commissioner of Customs, Central Excise & Service Tax

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized an Interactive Meeting with Mr. M.K. Singh, IRS., Commissioner of Customs, Central Excise & Service Tax, Hyderabad- II Commissionerate on “Negative List of Services under Service Tax” on November 16, 2012 at 3.00 pm at Surana Udyog Auditorium, Federation House, Red Hills, Hyderabad.

Mr. Devendra Surana, President, FAPCCI in his welcome address stated that the Negative List under Service Tax is a Paradigm shift from the existing system. The newer additions to the list of services often raised issues of overlaps with the previously existing services, confounding both sides as to whether some activities were taxed for the first time or were already covered under an earlier, even if a little less specific head.

Mr. Karunendra S. Jasti, Chairman – Indirect Taxes Committee, FAPCCI in his introductory Remarks stated that "When all the information is entered online and returns are filed online, still the department is insisting for visiting the ST department for submission of documents is causing hardship to the assesses.

Mr. S. Thirumalai, Advisor – Indirect Taxes Committee, FAPCCI during initiation of the discussion, he broadly explained the authority to levy taxes by Central and State Governments. He further informed that there are number of services identified from time to time under various heads as taxable services. Considerable numbers of services identified as taxable services have the dual nature of sale / deemed sale as well as service. Advertising service, goods transport service, outdoor caterer service, pandal and shamiyana service, mandap keepers service etc., are some of the taxable services which have the dual nature of sale / deemed sale and service.

Mr. M.K. Singh, IRS., Commissioner of Customs, Central Excise & Service Tax in his address stated that  Education and creating awareness amongst the trade and the tax payers on the recent developments in the tax areas is of utmost importance and this interaction is indeed a welcome step in this direction. He complimented FAPCCI for organizing this interactive meeting.

The focus of interaction today is on Service Tax and rightly so, as this being the burning topic in the area of indirect taxes. Service Tax is envisaged as the tax of the future.  If you see the taxation structure in the developed economies, you will find a comprehensive system of taxing the goods and services across all sectors in the form of VAT or similar tax.  You will also find that the share of service sector in the GDP is substantially higher ranging from 60 – 80%.  Service Sector is one sector which holds promise for larger revenue generation without increasing the existing level of taxation.  Apart from revenue, the comprehensive taxation on services aligned with taxation on manufacture and trading is the prime requirement for bringing the VAT in its true form.

In India, history of service tax is not very old.  We started with service tax on three services in 1994 (i.e. telephones, stock broking and insurance) and collected a revenue of about Rs.400 Cr., in the first year.  From that point onwards, there has been expansion in the scope and introduction of new services in the Service Tax net.  Initially, it was at a slower pace which gathered momentum later.  The growth is evidenced by the revenue collection in the last financial year 2011-12 when it reached to Rs. 97000 Cr., from about 120 services.  However, this growth in service tax was not without any problems associated with it.  With the addition of new services, the issues relating to overlapping of services emerged and thus increase in litigation.

Comprehensive taxation of services thus came as an obvious and natural step not only to remove the existing administrative difficulties but also to avoid leakages and litigation.  It was also the required and desired step for widening the tax base and for eventual transition towards the Goods and Service Tax.  Thus, the new approach to Service Tax, i.e., the Negative List approach, was thought of.   After   deliberations and consultations with a wide section of stakeholders and experts, finally the new provisions took effect from 1^st July, 2012.

The new system of taxation of services is a paradigm shift from the existing one.   Till now, i.e., before July, 2012, only specified services covered under the service tax provisions were being taxed.  In the new system, all services, except those specified in the negative list are subject to taxation.  Certain exemptions are available and have been consolidated under a Mega Exemption Notification.

The department is conscious about the responsibility to provide explanations and guidance to the taxpayer so as to ensure that the new provisions are understood and implemented without any problem.  We are also aware that the intricacies of new changes might throw new doubts and differences.  The department has therefore made efforts and has come up with the educational guide on taxation of services.  This guide is different from the normal circular issued on such matters and gone in great details and explanations to the provisions to provide utmost clarity.  It is available on the CBEC Website.

Mr. R.S. Maheshwari, IRS., Addl. Commissioner of Customs, Central Excise and Service Tax, Smt. N. Padmasri, IRS., Additional Commissioner – Service Tax, Mr. V. Rama Krishna, IRS., Assistant Commissioner (Technical & Anti-Evasion) attended the meeting and clarified many issues like Filing of hard copy of returns after e filing is not required, all Show Cause Notice’s will be sent by RPAD by the department henceforth etc., along with the Mr. M.K. Singh, IRS., Commissioner of Customs, Central Excise and Service Tax, Hyderabad- II, Commissionerate.

Mr. Srinivas Ayyadevara, Senior Vice President and Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI attended the meeting.

FAPCCI and Zaporizhya signed Joint Cooperation Agreement

The Federation of Andhra Pradesh Chambers of Commerce & Industry organized an interactive meeting with H.E. Mr. Goncharuk Petro, Deputy Head, Zaporizhzhya Regional State Administration and H.E. Mr. Oleksii V.Stepanov, Deputy Head, Embassy, Minister-Counsellor, Deputy Ambassador of Ukraine Embassy on 15^th November 2012 at Federation House, Red Hills, Hyderabad.

In this occasion FAPCCI and Zaporizhya Chamber of Commerce signed Joint Cooperation Agreement to establish and develop trade and economic relations.

Mr. Devendra Surana, President, FAPCCI stated in his welcome address is that There is tremendous scope for cooperation in the areas of mechanical engineering, shipbuilding, light industry, mining, metallurgy, steel, coking industry, construction of road and rail networks in India etc. Ukraine is a well-known manufacturer of world class gas and steel turbines for thermal, hydel and nuclear power plants, compressors, transformers, pumps, motors equipment for laying power transmission lines etc. Ukraine is keen to explore new avenues of joint development of power projects in India.  I am sure; the members present will explore the business opportunities available in Ukraine, for increasing the trade between the countries.

Investment opportunities in the State of Andhra Pradesh are abundant specifically in the manufacturing sector which includes food processing, floriculture, agro processing, petrochemicals, metals, textiles, leather, mining, transport equipment, telecom and so on.  The infrastructure sector is rife with opportunities, be it the areas of power, ports, roads, bridges, telecom facilities, development of coasts, waterways… Financial services, R&D and Tourism, particularly medical tourism, offer plenty of scope for investment.  I request you to kindly impress upon the Ukraine Businessmen and invite them to our State for exploring the business opportunities Mr. Devendra Surana said.

Mr. Oleksii V.Stepanov, Deputy Head, Embassy, Minister-Counsellor, Deputy Ambassador of Ukraine Embassy stated that the Ukraine is looking regional cooperation with the Government as well as from the industrialists to strengthen the bilateral trade between Ukraine and India. Ukraine and India’s bilateral trade has been very strong, has contributed more than 58 million US$ in Zaporozhye region in import and export.

Mr. Devendra Surana, President, FAPCCI, Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Mr. Grachev Serhiy Volodymyrovych, Head, Vasylievska District State Administration of Zaporizhzhya Region, Mr. Mezheyko Biktor Ivanovych, Chairman of the Standing Commission on Humanitarian Issues, Zaporizhzhya Regional Council, Dr.B. Divya Sunitha Raj, Indian Representative, USCIE, Ministry of Education, Science, Youth and Sport of Ukraine, Mr. Roman Puriy, First Secretary, Embassy of Ukraine, Mr. Shamilov Volodymyr Ivanovych, President, Zaporizhzhya Chamber of Trade and Industry, Mr. Kuts Andriy Vyacheslavovych, Vice President, Zaporizhzhya Chamber of Trade and Industry, Mr. Krasnoselskyi Vitalii Ignatiyovych, General Director, LLC, Zaporizhzhya Regional Agency for External Trade, Mr. Yakovenko Yuriy Petrovych, Head of the Board of Directors, Trest, Zaporizhaluminiumstroy, Belikov Serhiy Borysovych, Rector, Zaporizhzhya National Technical University, Mr. Arfanitskyi Stanislav Serhiyovych, Economist, Eltiz, Private Enterprise, Mr. V.S.R. Murthy, Director, NIMSTL of India and NEO Star India of Ukraine, Dr.BVK Raj, CEO, NEO NIMSTL, US Flight Academy, Texas, USA, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations Committee and Mr. M.V. Rajeshwara Rao are the other speakers at the meeting.

Wish You All A Very Happy Diwali

80% of Revenue comes from delivery of mails: Ms. Karuna Pillai, IPS., Chief Post Master General, AP Circle

The Federation of Andhra Pradesh Chambers of Commerce and Industry organized an Interactive Meeting with Ms. Karuna Pillai, IPS., Chief Post Master General and Ms. K. Sandhya Rani, IPS., Post Master General (BD), Andhra Pradesh Circle on 9^th November, 2012 at 3.00 pm at JS Krishnamurthy Hall, Federation House, Hyderabad.

Sri Srinivas Ayyadevara, Senior Vice President, FAPCCI in his welcome address stated that in recent years, the Department of Posts has leveraged its reach and remittance facility as well as the credibility, by diversifying the range of financial products and services that the Department of Posts can offer to its customers.  With the induction of technology and progressive computerization of the network, the Department has increased its capability to provide more value added services such as Mutual Funds & Bonds, Electronic Fund Transfer, International Money Transfer Service, Postal Life Insurance etc.

Dr. Ashok Kedia, Chairman – IT Committee, FAPCCI in his introductory remarks stated that as strong drivers of economic growth, Posts is continuing to innovate, develop efficient and accessible postal services, adopt common standards and exploit new technologies to diversify and improve services. 

Ms. Karuna Pillai, IPS., Chief Post Master General, Andhra Pradesh Circle in her address stated that postal department gets 80% of revenue comes from delivery of mails. She also informed that all offices of the department is computerized during the 11^th five year plan itself and now in 12^th five year plan, we are strengthening and sustaining it. The postal department is catering in three areas i.e., 1) Rural 2) Urban and 3) Business Community. She further informed that the department is more reliable on which the government can depend for financial inclusion like widow pensions, old age pensions etc., Earlier the department was a social organization but today it has become both social and commercial organization.

Ms. K. Sandhya Rani, IPS., Postmaster General (BD), Andhra Pradesh Circle in her presentation stated that the total number of post offices  all over india is 1,55204 and in Andhra Pradesh there are 16142 post offices out of which 91% are in Rural area. India Post is the largest postal service providers globally, when compared to US, Germany and China.

In India, Postal Services, the mail is central core area and they are also playing vital role in Insurance, Saving Bank, Remittances, Retailing also.

She stated that Mail Delivery Services per annum for unregistered is 646 Crores and Registered is 21.7 Crores and Delivery of UIDAI Aadhar letters in AP is 4.47 Crores.  

She also informed that lot of new projects are coming up, one such is Project Arrow which transfers the India Post by working out on infrastructure as well as focusing on core postal operations.

Sri Rajeshwara Rao, Secretary General, FAPCCI also attended the meeting.

National Seminar on "IT & ITEs"

30% Indian Bureaucrats totally corrupted: Mr. Pratyush Sinha, IAS, Former Chief Vigilance Commissioner

FAPCCI in association with Hyderabad Management Association organized an Talk on “Corruption Has Social Acceptance” on 2nd November 2012 at Federation House, Red Hills, Hyderabad.  Mr. Pratyush Sinha, Former Chief Vigilance Commissioner was the chief guest for this occasion. 

Mr. Pratyush Sinha, IAS, Former Chief Vigilance Commissioner said that there would be around 30 percent Bureaucrats who would be utterly corrupt. But the rest are the people who are on the borderline. Each year millions of Indian families have to bribe officials for access to basic public services. 20 percent of Indians were honest, regardless of the temptations, because this is how they are. They have a conscience. In modern India -if somebody has a lot of money, he is respectable. Nobody questions by what means he has got the money. India is also regarded as a hotbed of illegal betting syndicates, with gamblers and bookmakers involved in spot-fixing. 

Everybody has experienced, when we were growing up we remember if somebody was corrupt, they were generally looked down upon. There was at least some social stigma attached to it. That is gone. So there is greater social acceptance. 

India would be the No. 1 in Medical Tourism by 2015: Padmabhushan Dr. PM Bhargava, Founder & Director, CCMB

FAPCCI in association with i-Transition Worldwide, Texas, USA organized an International Conference on Indian medical tourism conference & alliance - IMTCA 2012  on 2nd November 2012 at The Park Hotel, Hyderabad.  Padmabhushan Dr. P. M. Bhargava, Founder Director, CCMB was the chief guest for this occasion and Dr. A Dharma Rakshak, Director of Nizams Institute of Medical Science was the key note speaker. 

Few Important points from speeches by the Hon’ble guests:

Dr. Bhargava speech-

Indian medical tradition has 2500 years great history. Ayurveda, Siida Vaidya and Unani were the most popular Indian medical traditions and Girijana vaidya also another great medical tradition. Ayurveda, Sidda vaidyam and Unani was documented. 

India has 40,000 medical based plants, and we developing more than 20,000 drugs in various levels. Texal is the most popular and most used drug world over, developed by Indian traditional medical system. 

India can be world leader in general medical surgery, Infertility and Traditional medicine by 2015. 

Private hospital must avoid unnecessary prescriptions, tests and services to the patients. Some of the hospitals are giving very good services to the needy patients, but many other hospitals concentrating on money making. Those kinds of hospitals are suggesting unwanted tests, giving unnecessary drugs to the patients. 

Indian nurses are the best amongst the world in terms of service, particularly Keralites. 

Dr. Dharma Rakshak speech-

Arogyasri expands the best medical services from urban to rural, particularly below poverty line people across. 

Unani and Homeopathy have great potentiality in Hyderabad. 

Sustainable employment is available in healthcare industry in Hyderabad. 

From last two decade Hyderabad hospital industry is growing very fastely with rate of 12% 

Mr. Devendra Surana speech-

The IT, Education and Healthcare industries are the major drivers in Hyderabad in terms of industrial, economical, infrastructure and social development  

Images:: Interactive Meeting with Mr. N. Krishnamurthy, Registrar of Companies

Turkey aims to raise the trade volume with India to 10 billion: Ms Ceylan Özen Eriºen

The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with Office Of The Consulate General Of Turkey organized an Seminar on ‘Economy and Business Opportunities in Turkey’ on 16^th October 2012 at Federation House, Red Hills, Hyderabad. Ms Ceylan Özen Eriºen, Consul General, Consulate General of Turkey was the Chief Guest for this occasion.

Ms. Fariha Ansari, Advisor, Investment Support & Promotion Agency, Turkey, Mr. Mehmet Ali Sheker, General Secretary, Indo Turkish Business Association, Mr. Srinivas Ayyadevara, Senior Vice President, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations Committee, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI where the other speakers. 

Ms Ceylan Özen Eriºen, Consul General, Consulate General of Turkey said that the bilateral trade between India and Turkey was only 505 million dollars in the year 2000, but has reached 6.255 billion dollars in 2011. Turkey aims to raise the trade volume with India to 10 billion dollars within a few years.  In 2011, Turkey’s exports to India totaled only 756 million dollars whereas India's exports to Turkey were worth 6.5 billion dollars.  India’s exports to Turkey include petroleum products, vaccines, cotton yarn, synthetic yarn, organic dyes, organic chemicals, denim, steel, granite, antibiotics, carpets, tobacco, cars, sesame seed, TV cathode ray tubes, mobile handsets, clothing and apparel, tractors, aluminium, polypropylene. Turkey’s exports to India include poppy seeds, auto components, marble, textile machinery, denim, carpets, cumin seeds, copper ores and concentrates, flat rolled iron and steel and gold, silver, inorganic chemicals, jewelery.

Mr. Srinivas Ayyadevara explained the business opportunities in the State and he said that the Investment opportunities are abundant specifically in the manufacturing sector which includes food processing, floriculture, agro processing, petrochemicals, metals, textiles, leather, mining, transport equipment, telecom and so on.  The infrastructure sector is rife with opportunities, be it the areas of power, ports, roads, bridges, telecom facilities, development of coasts, waterways… Financial services, R&D and Tourism, particularly medical tourism, offer plenty of scope for investment.  I request the visiting dignitaries to kindly impress upon the Turkish Businessmen and invite them to our State for exploring the business opportunities.