India’s exports touched $303.7 billion - Mr. V. Sashi Koomar, AGM, ECGC

The Federation of Andhra Pradesh Chambers of Commerce and Industry in association with The Export Credit Guarantee Corporation of India Ltd jointly organized a 3 Day Training Program on ‘Export Marketing: Procedure & Documentation’ on 21st February 2013 at Federation House, Red Hills, Hydrabad.

Mr. V. Sashi Koomar, Asst. General Manager, ECGC of India Ltd, Mr. A. Subrahmanyam, DGM & Regional Head, EXIM Bank of India, Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee are the key speakers at the training programme.

Mr. V. Shashi Koomar said that the India’s exports surpassed the target of $300 billion for 2011-12 and touched $303.7 billion, despite problems in Europe and the US.  Imports during the year shot up by 32.1 per cent to $488.6 billion, leaving highest-ever trade deficit of $184.9 billion. US and Europe together account for over 65 per cent of the country’s total exports.  Exporting sectors that registered a healthy growth in 2011-12 include engineering, petroleum and its products besides gems and jewellery.  Based on these encouraging numbers, the country has set an ambitious merchandise export target of $500 billion for 2013-14.

Mr. A. Subrahmanyam, DGM & Regional Head, EXIM Bank of India said that the ‘Export Marketing: Procedure & Documentation’ is really a commendable in that sense starting from how to do export business, international trade/documents, Foreign Exchange Management Act, Inco terms, availing finance from banks both for pre and post shipment, availing credit insurance and other export related organizations.

Mr. Devendra Surana said that the Most SMEs need easier access to new or modern technologies abroad, technology support facilities and easier access to finance, including technology finance, besides marketing information and incentives for training and skills development. Further, differentiated policies and mechanisms are needed for SMEs in different sectors, stages of their development, nature of operations.  We at FAPCCI are continuously working and conducting series of export awareness programs.  In this context, we request the ECGC & EXIM Bank to extend their support in creating awareness programs on exports at district levels.

India and Japan bilateral trade targeted to grow to $25 billion by 2014-

The Federation of Andhra Pradesh Chambers of Commerce & Industry organized an interactive meeting with Mr. Yoshifumi Watanabe, Foreign Business Division, Commerce, Industry & Labor Bureau, Hiroshima Prefectural Government, Japan today February 20, 2013 at Federation House, Red Hills, Hyderabad.

Mr. Devendra Surana, President, FAPCCI, Mr. Ravindra Kalur, President, AOTS Alumni Society, A.P. Chapter, Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and Mr. Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI have spoke at the occasion.

Mr. Yoshifumi Watanabe stated that the India and Japan bilateral trade was $17.8 billion was reached in 2011 and is targeted to grow to $25 billion by 2014.  The India Japan CEPA which came in force from August, 2011 assumes major significance, as it provides increased access to each other’s market for goods by eliminating tariff. Foreign direct investment from Japan to India between April 2000 and April 2012 was $ 12.3 billion - putting Japan in fourth place after Mauritius, Singapore and Britain.

Press Meet on “Discussions on Proposed POWER Tariff Increase & Objections on ARR”

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized Press Meet on “Discussions on Proposed POWER Tariff Increase & Objections on ARR” on February 20, 2013 at Federation House, Red Hills, Hyderabad.

Mr. Devendra Surana, President, FAPCCI, Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. V. Anil Reddy, Chairman, Energy Committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI  and Mr. Sunil Patodia, Industrialist have addressed the Media.

PRESS BRIEF

1. Unreasonable Increase over 3 Years:

Andhra Pradesh historically has the lowest power tariffs because of the natural advantage of having Hydro Power, Coal and Gas reserves. But the situation has been changing despite the natural advantages, the tariff proposed to be steeply increased making it one of the highest in the country (rank 7 with proposed tariff).

2. Excess Recovery from Industry:

It is been mandated in the National Tariff Policy that the cost over cost of service should be the maximum of 20%. However, we find the industrial consumers are burdened with huge cross subsidies averaging 69.8% for HT 11 KV, 61.3% for HT (33 KV) and 48% for HT (132 KV) which is coming to an average of 60% increase over cost of supply to HT category industries. This huge burden of gross subsidy on HT industrial sector is unlawful and unjustifiable. There is a sudden increase in this percentage in this year.

We therefore request that cross subsidy should be a maximum of 20%, as per National Tariff Policy and decisions of Appellate Tribunal.

The cross subsidy provided by these consumers in all the four distribution utilities in Andhra Pradesh is Rs. 9728 Cr. This is ten times the total budget for industry and almost ½ of sales tax paid by industry.

3. Agriculture Subsidy:

The Subsidy element to agriculture has been continuously going up over the last few years.

Every year the actual power supplied and its cost is higher than as estimated and the total Back log to be recovered from Government: 8865.55 (Rs.Cr).  This amount is being collected as FSA from Industry.

Given the current cost of electricity and the proposed electricity being supplied to agriculture, the total cost of power supplied to agriculture and other subsidized sectors comes to Rs.14,867 crores.

The subsidy requirement by all the four distributions utilities for FY 2014 is estimated at Rs.14,866.99 Cr which is almost three times more than the approved subsidy of Rs. 5884.37 Cr by the Government. That means imposition of higher burdens on consumers in the form of tariff hikes.

When compared to the tariff proposal supply to agriculture has always been higher leading to an additional burden which is being passed on as FSA to industry.

There are two side effects from the power being given to formers. As there is absolutely no incentive for efficiency to farmers, the pump sets are running 18% to 20% efficiency. With proper use of capacitors, good quality winding and bearings, the efficiency of the pump can be increase upto 60%. This means that more than 50% of the power is being wasted.

As there is no cost to the power, and power is being given at odd times, the pump sets of farmers are ON for full time leading to wastage of water and reduction in the water table in the State.

4. Unreasonable amount of restrictions on industry:  

Even when there is a shortage of 10% to 18% of power cut to industry has been a magnitude of 40% to 60%. This has resulted in shortfall of supply to industry and also resulted in huge losses to the DISCOMS.

It is calculated that as per the 2012-13 order the Incidence of FSA is Rs.0.64 Even without any increase in fuel prices only for this reason.

Therefore, we request that whenever any additional power given to agriculture over and above as promised in tariff, DISCOMS should take prior permission from Government for additional subsidy and prior permission from APERC for releasing the supply. 

"HarithOn" - The Mega Green Run 2013

Planet 3 Protection Alliance in association with FAPCCI, AP Pollution Control Board, Gitam University and Traffic Police Hyderabad organized "HarithOn" - The Mega Green Run on February 17, 2013 at People's Plaza, Necklace Road, Hyderabad. Mr. Danam Nagender, Minister for Employment, Mr. Devendra Surana, President, FAPCCI, Mr. Yennem Srinivas Reddy, MLA, Mahaboobnagar and many VIPs, more than 5000 students have participated at the Eco-Green Run.

Indo-France bilateral trade reaches 7.6 billion Euros

The Federation of Andhra Pradesh Chambers of Commerce & Industry organized an interactive meeting with Mr. Bradley Joslove, Head-New Technologies Department and India Desk and Co-Manager, Commercial Law Department, Business Law Firm, Franklin from Paris, France on February 11, 2013 at Federation House, Red Hills, Hyderabad.

Mr. Bradley Joslove stated in his address is that the - bilateral trade had increased by 6% to 7.46 billion Euro.   France is the 9th largest foreign investor in India with a cumulative investment of approximately USD 3 billion during the period April 2000 to June 2012.  India is the 13th largest foreign investor in France in terms of project numbers.  There is a growing and wide-ranging cooperation in areas such as trade and investment, culture, science & technology and education.

Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. P. Ravi Prasad, Advocate & Co-Founder, Tempus Law Associates, Hyderabad, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and Mr. Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI have spoke at the occasion.

Indo - American Education Summit & Expo 2013

Indus Foundation in Association with FAPCCI, Government of Andhra Pradesh, HMTV, The Hans India jointly organized "Indo - American Education Summit 2013" on February 02, 2013 at Hyderabad.

Mr. Ponnala Lakshmayya, Hon'ble Minister for IT & Communications, Govt. of AP was the chief guest for this occasion. Mr. Devendra Sirana, President, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI  was addressed at the session.

Income Tax Dept & FAPCCI organized 1st Open Forum with Tax Payers

At the request of FAPCCI, the TDS wing of Income Tax Department, AP. has conducted First Grievance Redressal Open House on 2nd February, 2013 at Conference Hall, IT Towers, AC Guards, Hyderabad.

Commissioner of Income Tax- TDS, Ms. Subhashree Anantkrishnan, IRS., in her opening remarks stated that due to Mismatch of data many grievances are occurring, hence every care should be taken while uploading TDS returns. She further clarified that due to transitional period of CPC Site, the department is unable to reconcile but however, once it becomes fully operational, the non- legal issues could be resolved much faster and she assured that she will appraise the higher authority about large number of rectifiable and avoidable issues in the National Level Meeting scheduled in the month of February, 2013.

Mr. T. Diwakar Prasad, IRS., Addl. Commissioner of Income Tax has stated that Assessees can approach Jurisdictional Assessing Officers with their issues and can sort out the problems at the earliest.

In this Open Forum, nearly 50 Petitions and Issues were taken up and one by one briefly discussed and were placed on record for resolution of grievances. The Officers including Smt. Indira Addakil, Ms. B.K. Vishnu Priya, Mr. Jaykumar V. Menon, Asst. Commissioners of Income Tax, Mr. V. Swayam Prakash, Dy. Commissioner of Income Tax, Mr. Alphonse Absolom, Income Tax Officer (H. Qrs) have responded to these petitions and queries.

On behalf of FAPCCI, CA Abhay Kumar Jain, Chairman, CA Ram Dev Bhutada, and CA K. Hanmandloo, Co-Chairmen, Direct Taxes Committee, FAPCCI have actively participated and expressed the views and suggestions on improving the Administration of TDS related issues.

Many of the Individuals and major organizations such as MTAR Technologies Pvt. Ltd., AP Genco, Lead Edge Papers Pvt Ltd., Jayashree Industries, Microtorr Vaccum Systems Pvt. Ltd., Plant Gene Seeds Pvt. Ltd., got relief with direction to meet the respective concerned officers.

FAPCCI thanked the department for initiating this unique programme and in turn the department has confirmed that the next meeting will be held on 8th March, 2013. Grievances along with supporting documents relating to TDS shall reach FAPCCI Office on or before 28th February, 2013.

FAPCCI Vanamahotsav 2013 @ Alankrita Resorts

Mr. Devendra Surana, President, FAPCCI hosted the “Picnic Party” to the FAPCCI Officers, Staff and their family members and Managing Committee members today at Alankrita Resorts, Shamirpet, Hyderabad.

In this occasion the Managing Committee, Officers and Staff of FAPCCI enjoyed many games with surprises and fun, Ganabazana, Cricket, Shuttle and enjoyed different cuisines.

Mr. Devendra Surana, President, FAPCCI, Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Mr. Shiv Kumar Rungta, Vice president, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade relations, Dr. Ashok Kumar Kedia, Chairman, IT Committee, Mr. Suraj Prasad Agarwal, Past President, FAPCCI, Mrs. P. Vydehi, Director, Mr. Venkat B, Asst. Director, Mrs. Sujata, Asst. Director, Mrs. M. Veena, Asst. Secretary and other staff participated in many games and fun oriented programs at the occasion.