India was ranked 11th highest trading partner of the U.S

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with The US Commercial Service, American Consulate General, Hyderabad jointly organized business seminar on Seminar on “Doing Business with U.S.” today (April 21, 2014) at FAPCCI, Red Hills, Hyderabad.

Sri James Golsen, Principal Commercial Officer – South India, US Commercial Service, American Consulate General, Chennai was the chief guest at the occasion.

Sri Srinivas Ayyadevara, President, FAPCCI, Sri. Jim Hagengruber, Vice Consul, Consulate General of United States of America, Hyderabad, Sri Anil Reddy Vennum, Vice President, FAPCCI, Sri Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and Ms. Vydehi P, Secretary (In-charge) was the other speakers.

Sri James Golsen, Principal Commercial Officer – South India, US Commercial Service, American Consulate General, Chennai said that the U.S. Commercial Service trade professionals assist Indian companies in the Investment opportunities in the United States, Trade Promotion through business matchmaking and Trade Finance areas. We help Indian companies locate U.S. products, services or business partners; meet suppliers and partners face-to-face; explore investment opportunities in the United States; participate in trade shows that feature thousands of U.S. companies.

In 2013, India was ranked 11th highest trading partner of the U.S., Trade between the U.S. and India is soon expected to cross the 100 billion U.S. dollar mark. India is the 8th fastest growing source of FDI into the United States and the total stock of FDI from India to the United States is $8.9 billion he said.

Between January 2003 and June 2013, 297 investment projects were announced by Indian firms in the United States. Software & IT Services received the largest amount of investment, with one-third of all announced projects.

Brussels is the place to be to run a business with a European focus

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Brussels Invest & Export and SAS Partners Corporate Advisors Private Limited jointly organized business seminar on “Brussels – Gateway of Investments to Europe” today (April 10, 2014) at FAPCCI, Red Hills, Hyderabad.

Sri Bart De Groof, Consul General, Consulate General of Belgium in India at Chennai was the chief guest at the occasion. Sri Srinivas Ayyadevara, President, FAPCCI, Ms. Kathlijn Fruithof, Trade & Investment Attaché, Brussels Invest & Export, Sri Alex T Koshy, Director, SAS Partners Corporate Advisors Pvt Ltd and Sri Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI was the other speakers.

Sri Bart De Groof, Consul General, Consulate General of Belgium stated that the Brussels is an attractive investment destination for the world's entrepreneurs; Brussels is home to more than 1,300 foreign companies.

The Brussels economy is dynamic, diversified and highly export-oriented. The labour force is also highly-qualified, skilled and knowledgeable. In addition to the traditional activities, such as transport, construction, food and consumer goods, Brussels also exports high-quality services in innovative sectors. Brussels is a very multicultural city and is an ideal test market for foreign companies wishing to access the European marketplace. Brussels is the place to be to run a business with a European focus, all at a reasonable cost.

Belgium is one of India’s important trading partners in the EU. Trade in gems and jewellery constitutes around 75% of bilateral trade. India’s Information Technology sector is well represented in Belgium. Several Indian companies in the chemicals sector have also established offices/warehousing facilities in Belgium, particularly near the port city of Antwerp. Belgian business interests in India cover dredging, chemicals, engineering goods, banking and finance, electronics and software, fertilizers, and biotechnology.

Belgium is the second largest trading partner of India in the European Union. India is the 6th largest exporter to Belgium and 2nd largest importer of Belgian products. The major items of Indian exports to Belgium are gems & jewellery, chemicals & chemical products, base metals & articles, mineral products, textiles etc. The major items of Indian imports are gems & jewellery, chemicals & chemical products, machinery & mechanical appliances, base metals & articles, plastic products etc.

Belgium has emerged as the 24th largest investor in India and the 10th largest within the EU, but the total FDI in India from Belgium is still relatively small, being less than 0.3% of the total. The cumulative FDI inflows from Belgium into India amounted to US$ 491.87 million from April 2000 to April 2013. In the recent past, Indian investment in Belgium has exceeded investment by Belgian firms in India, mainly by way of acquisition of Belgian firms by Indian companies. Several Indian companies particularly in IT and software sectors have established base in Belgium to cater to the Belgian as well as European markets.

Meeting with Sri Heeralal Samariya, IAS, Commissioner of Commercial Taxes

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with the Department of Commercial Taxes, Government of Andhra Pradesh organized an Interactive Meeting with Sri Heeralal Samariya, IAS., Commissioner of Commercial Taxes, Government of Andhra Pradesh on “Issues arising out of Re-Organization of State of Andhra Pradesh - Pertaining to Commercial Taxes” on 25th March, 2014 at 4.00 p.m. at Federation House, Hyderabad.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Smt. Christina Z. Chongthu I.A.S., Special Commissioner of Commercial Taxes has interacted with trade and industry. Sri G. Lakshmi Prasad, Sri D. Ramachandra Reddy and Sri G. Venkateswarlu Addl. Commissioners and Sri V. Harsha Vardhan and Sri Y. Satyanarayana Joint Commissioners of Commercial Taxes, Sri Anil Reddy Vennum, Vice President, FAPCCI, Sri Ravindra Modi, Chairman, Commercial Taxes Committee have participated at the session.

Sri Heeralal Samariya, IAS., Commissioner of Commercial Taxes, Government of Andhra Pradesh interacted with traders and informed that from June 2, 2014 onwards new Tin number will be applicable for Telangana State. The traders must use separate Tin numbers for the both States, when they are filing tax returns. The taxes will be applicable according to the business operations in the both States. The Tax revenues can be shared to the both States and 53% Tax revenue goes to the Telangana and 47% will be for Andhra Pradesh State. Any dispute or grievances will be having at the time of returns filing, the problems can send to the concerned authority level and officials try to solve the problems within 24 hours.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI raced few issues related to State bifurcation at his welcome address. He said that the trade and industry is neither conversant nor can comprehend the ramifications of changes that are bound to happen upon bifurcation.  In fact, apprehensions and fears are making their life miserable with no one in authority to assuage their fears or offer any clarity.  Large number of issues pertaining to inter-State trade has to be sorted out a sample of the issues that need to be addressed is mentioned below.

 Tax incentive in the form of Tax deferment has been sanctioned to several new/expansion industries. Such deferred tax has to be repaid in 14 years. Both the Governments must make it clear to which State such deferred tax has to be remitted, to avoid pressure from both the authorities and unwanted litigation.

 As on the date of bifurcation, large number of dealers will have huge amounts as Input Tax Credit (ITC) to their credit. Such credit is in relation to the transactions affected in the composite State but would be set-off against output tax payable in the new State. Such dealers must be allowed to avail full credit without any issues.

 There is levy of Entry Tax on the entry of Motor Vehicles into the composite State. Consequent on bifurcation, it is necessary to make statutory amendments exempting from such levy of entry tax on the entry of motor vehicles from Telangana State into AP State and vice versa.

 At present the dealers in the State are paying 2% CST under CST Act purchased from other States like Tamilnadu & Karnataka etc. If the State of Andhra Pradesh is bifurcated, the dealers of Telangana as well as Andhra will have to pay 2% CST extra and collect ‘C’ forms to avail concessional rate of Tax.

 It is therefore request the State Government to recommend to the Central Govt. to include the provision not to impose CST Act for businesses between Telangana & Andhra Pradesh as a package for a period of 10 years to reduce the extra burden on Trade & Industry and also on consumers of the both the States.

Sri Ravindra Modi, Chairman, Commercial Taxes Committee requested the government to kindly take up the transition issues and all the long term related issues of trade and industry pertaining to Sales Tax, State Excise and Transport on mission-mode in the larger interests of the new States, business and consumers.

Media Release by: Adventura (A Kushmanv Group)

Invest in Israel – Where breakthrough’s happen

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Consulate General of Israel, Bangalore organized a meeting with Mr. Avi Friedman, Consul for Trade & Economic Affairs, Head of Trade Section, Consulate General of Israel, Bangalore on 24th March, 2014 at 4.00 p.m. at Federation House, Hyderabad.

 Sri Srinivas Ayyadevara, President,  FAPCCI, Mr. Shiv Kumar Rungta, Sr. Vice President, FAPCCI, Mr. Ken Udai Sagar, President, Indo-Israel Chamber of Commerce and Industry, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and Mr. R. Kulkarni, Joint Director, FAPCCI was the speakers at the occasion.

Mr. Avi Friedman, Consul for Trade & Economic Affairs, Head of Trade Section, Consulate General of Israel, Bangalore invited investments to invest in Israel. He said that the ‘invest in Israel – where breakthrough’s happens. Israel is ranked third place in entrepreneurship development across the world. Israel changes the face of agriculture in the world.  Eco systems, innovation technology and thoughts support Israel to grow as global leader. Entrepreneurs have investment opportunities in Israel in water treatment & technology, agriculture, bio, space, medical, cyber, education, pharmacy and many sectors he said.

Mr. Srinivas Ayyadevara, President, FAPCCI said that the India and Israel especially Andhra Pradesh offer substantial opportunities and we can cooperate each other in the field of agriculture, food-processing, biotech, aerospace and other similar sectors, by adopting new/latest technology.   There is a need to launch a new initiative to reach out to the business community and public in large to spread awareness about Israel and help strengthening ties with India, especially in the fields of trade, tourism and technology.

Our State is one of the fastest growing economies in India 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 World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business he said.

Media Release by: Adventura (A Kushmanv Group)

Indians are the largest recipients of H1-b Visa

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with U.S.  Consulate General, Hyderabad jointly organized a Talk with Mr. Edward Alden, Bernard L. Schwartz Senior Fellow, The Council on Foreign Relations, Washington D.C.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Sri Anil Reddy V, Vice President, FAPCCI, Sri Gurdit Singh, Consulate Officer, Sri Salil Khedar, Consulate Officer, Sri Shyam Sunder Pasari, Chairman, International Trade relations committee, FAPCCI and Smt. Vydehi P, Secretary (I/c) has addressed at the talk.

Mr. Edward Alden, Bernard L. Schwartz Senior Fellow, The Council on Foreign Relations, Washington D.C stated at his talk is that the – Indians are the largest recipients of H1-b Visa from United States of America. US immigration policy is more beneficial India. Most of the emigrants in the US are family based, but in the Australia and Canada focused on Economic development. American economy is basically into information technology and industrial development. The Indians are in the forefront to start business in the Silicon Wally and Chinese and Malaysian are in the second and third place. In the last economical year a total of 140,000 Indians have got emigrational support from the US government.

H1 b Visa program is helping immigrants, particularly who wants to start business in the US. Now, through H1 b Visa.

Media Release by: Adventura (A Kushmanv Group)

Business Opportunities in RAKIA Ras Al Khaimah, UAE

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with RAKIA Investment Authority, Ras Al Khaimah, UAE organized the Seminar on Business Opportunities in RAKIA Ras Al Khaimah, UAE on March 13, 2014 at Federation House, Red Hills, Hyderabad.

Sri Probir Chakraborthy, COO, RAKIA Investment Authority, Ras Al Khaimah, UAE was the chief guest for this occasion.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI,  Sri Yoonus Ismail, Rakia officer, Sri Shyam Sunder Pasari, Chairman, International Trade Relations Committee, FAPCCI, Sri R Kulkarni, Joint Secretary, FAPCCI has participated at the session.

Media Release by: Adventura (A Kushmanv Group)

Taiwan Machinery Catalogue Show at FAPCCI

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Taiwan Association of Machinery Industry (TAMI) jointly organized an Taiwan Machinery Catalogue Show today (March 09, 2014) at FAPCCI, Red Hills, Hyderabad.

Dr. Guann Jyh Lee, Executive Director, Economic Division, Taipei Economic and Cultural Center in India and Mr. Kishore Kumar Tulluri, Co-Chairman, International Trade Relations Committee, FAPCCI was inaugurated the Catalogue show. Mr. John Chen, Director, Taiwan Association of Machinery Industry, Mr. Abhay Kumar Jain, Managing Committee member, FAPCCI, Mr. Kulkarni, Joint Director, FAPCCI and Mr. Venkat Bulemoni, CEO, Kushmanv Information Technologies has participated at the catalogue show.

Dr. Guann Jyh Lee, Executive Director, Economic Division, Taipei Economic and Cultural Center in India are said that the machinery catalogue exhibition show’s goal is to create Indian and Taiwan’s businessmen trade in machinery. The catalogue show consist of 9 main industrial / machinery categories, such as machine tools, food processing machinery, packaging machinery, plastic & rubber machinery, textile machinery, shoes & leather machinery, wood working machinery, machinery parts and industry machinery. There are in total 100 companies that have provided the 9 main industrial / machinery categories.

Media Release by: Adventura (A Kushmanv Group)

Womens Day Celebrations at FAPCCI

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) is organized a “International Women’s Day Celebrations”, today (8th March, 2014) at 11.00 am at  the JSK Hall, Federation House, Hyderabad.

Smt. C.S. Rama Lakshmi, I.F.S., Commissioner of Seri-culture,  Department of Seri-culture, Govt. of Andhra Pradesh was the chief guest and Smt. Ramadevi, President, ALEAP was the guest of honour at the occasion. Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Smt. P. Vydehi, Secretary (I/c) also addressed at the occasion.

Media Release by: Adventura (A Kushmanv Group)

Lesotho was the rising country in international global market

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Kingdom of Lesotho jointly organized an interactive session on “Bileteral Trade Relations between India & Kingdom of Lesotho” today (March 05, 2014) at FAPCCI, Red Hills, Hyderabad.

His Excellency Hon. Mr. Mohlabi Kenneth Tsekoa, Hon’ble Minister of Foreign Affairs and
International Relations, Kingdom of Lesotho was the chief guest for this occasion.

Dr. Ashok Kumar Kedia, CEO, Kedia InfoTech & e-Seva World, Mr. Surat Singh Malhotra, Hon. Consul of the Kingdom of Lesotho, Hyderabad, H.E. Mr. Bothata Tsikoane, High Commissioner of the Kingdom of Lesotho, Mr. Mokhethi Shelile, Head, Forign Investment, Kingdom of Lesotho, Mrs. Boopane Masoebe, First Secretary, Kingdom of Lesotho and Mrs. P. Vydehi, Secretary (Incharge), FAPCCI was the other speakers at the occasion.

Mr. Mohlabi Kenneth Tsekoa, Hon’ble Minister of Foreign Affairs and International Relations, Kingdom of Lesotho said that the Lesotho was the rising country in international global market, and the Kingdom of Lesotho offering industrial friendly environment to the industrialists to invest in Kingdom of Lesotho. The investors can develop their own industries in Agriculture, Agri-Tech, Construction, Mining, Engineering, Textiles, Environment, ICS and Tourism segments he said.

The bilateral trade between the India and Kingdom of Lesotho has drastically decreased from USD 24.35 to USD 11.05 Million. The major Indian imports are wool, fine or coarse animal hair, horsehair yarn & woven fabric, apparel and clothing accessories not knitted or crocheted.  The Indian exports are mainly pharmaceuticals and fabrics. The potential areas of cooperation are Tourism, Pharmaceuticals, Agriculture, Print Packaging, Renewable Energy, Textile, Education and Infrastructure Development he explained.

Media Release by: Adventura (A Kushmanv Group)

FAPCCI expressed serious concern about the power cuts

Mr. Shivkumar Rungta, senior vice president and Mr. V. Anil Reddy, Vice President, FAPCCI expressed their serious concern about the power cuts and power holidays for industrial consumers in the State as announced by the DISCOMs.

We were informed that industrial consumers will have to take one day power holiday per week in view of the shortfall in the availability of power.

This has come as a rude shock to the industry. We are still coping with the losses incurred during last year due to acute power shortage and the R & C measures imposed by APERC. It is only from August 1, 2013, that R & C Measures are removed and within 7 months, again the power cuts are started and industry is asked to stop the production for one day in a week. No doubt this will be increased to two days and even three days, as is done last year apart from peak hour restrictions from 6PM to 10PM on all days.

Then Hon’ble Chief Minister and the power department officials, time and again assured the industrial consumers that there will not be any power cuts for industry this year and 100% power will be supplied. They also assured that short term and medium term power purchase agreements are made by DISCOMs to meet the power requirement in the state. AP Transco Chairman in the SAC meeting held on 16 January 2014 said that arrangements are made to meet the demand for power for February to May 2014. Inspite of these statements made by the Chief Minister and the Officials, now industries are subjected to power cuts even before summer has begun.

We questioned the integrity of DISCOMs to declare power holidays. We wanted to know whether this has been done under the guidance and sanction of APERC. We request the APERC to take suitable measures to protect the industry from the power cuts and streamline the power supply.

Yesterday’s announcement of power cuts and power holidays to various categories of consumers is most unfortunate. Inspite of our repeated request to make arrangements for continuous power supply to the industry for the past 4 months power department has failed to take any measures to save the industry in the state. This clearly shows the lack of foresight and the apathy towards the industrial consumers said Mr. Shivkumar Rungta, senior vice president and Mr. V. Anil Reddy, Vice President, FAPCCI.

Media Release by: Adventura (A Kushmanv Group)

MSME employment can grow nearly 140 million workforce by 2020

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with State Bank of Hyderabad and Andhra Bank jointly organized an conference on “Financial Management for SMEs: Raising Capital through Stock Exchanges & Criteria for Listing on Exchanges” today (March 03, 2014) at FAPCCI, Red Hills, Hyderabad.

Sri C.V.R. Rajendran, Chairman & Managing Director, Andhra Bank was the chief speaker at the conference.

Sri Ajay K. Thakur, Head, BSE SME Platform, Mumbai, Sri S. Raman, Whole Time Member, Securities & Exchange Board of India, Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Sri Anil Reddy V, Vice President, FAPCCI, Sri Arun Luharuka, Chairman, Corporate Affairs Committee, FAPCCI and Ms. Vydehi P, Secretary (Incharge) was the other speakers at the occasion.

Sri C.V.R. Rajendran, Chairman & Managing Director, Andhra Bank said that the MSME segment in India forms the backbone of economic growth and therefore in a growing economy like India there is immense potential for the SME business to grow. This segment contributes 8% to India’s GDP and its share to country’s manufacturing output is 45%.

MSME employment can grow at 12% over next decade to reach nearly 140 million workforce by 2020 and we can expect MSMEs to contribute 20% of India’s GDP by 2020.

Note: Full speech of Sri C.V.R. Rajendran, Chairman & Managing Director, Andhra Bank has attached with the mail.

Telangana needs a Special Status & Telangana Development Bank: Speekers at Seminar

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) and

 Telangana Industrialists Federation,  Telangana Development Forum jointly organized the seminar on “Industrial Development in Telangana: Problems, Prospects with Focus on Special Category Status” on Thursday, 28th February, 2014 at 4.00 pm at J.S. Krishna Murthy Hall, Federation House, Red Hills, Hyderabad.

Dr. Smt.  Dr. J. Geetha Reddy, Hon’ble Minister for Major Industries, Government of AP was the Ghief Guest for the Seminar.

Sri. G. Prasada Rao, Minister for Small Scale Industries, Government of AP, Sri G. Vivek, Member of Parliament, Prof. Kodanda Ram, Chairman, TJAC, Sri. Ramesh, MLA, Dr. Raja Reddy, Advisor, Govt. of AP, Sri. P. Vivek, Additional Director, Vigilance & Enforcement Department, Sri Nrupender Rao, Pennar Group, Sri Rameshwara Rao, Industrialist, My Home Group, Sri D.P. Reddy, TCF (USA/India), Sri APK Reddy, President, FSME-AP, Sri V. Anil Reddy, President, FAPCCI and Sri K. Sudheer Reddy, President, Telangana Industrialists Federation has addressed the industrialists.

Media Release by: Adventura (A Kushmanv Group)

Corporate Governance is about ethical conduct: Smt. Ekta Bhal, TATVA Legal

The Federation of Andhra Pradesh Chambers of Commerce & Industry (FAPCCI) have organized an interactive session on  “Companies Act – 2013” on Thursday, 20th February, 2014 at 4.00 pm at J.S. Krishna Murthy Hall, Federation House, Red Hills, Hyderabad.

Smt. Ekta Bahl, Partner, TATVA Legal stated that the Corporate Governance is about ethical conduct in business. The Corporate Governance is beyond the realm of law. It stems from the culture and mindset of management and cannot be regulated by legislation alone.

Board of directors are trustees for the entire body of stockholders, and both good morals and common law imperatively demand that they shall manage all the business affairs of the company with a view to promote, not their own interests but the common interests of all those who have made an investment in the company she said.

According to the Supreme Court official liquidator Sri P.A. Tendolkar the A director may be shown to be so placed and to have been so closely and so long associated personally with the management of the Company that he will be deemed to be not merely cognizant of but liable for fraud in the conduct of the business of the Company even though no specific act of dishonesty is proved against him personally. He cannot shut his eyes to what must be obvious to everyone who examines the affairs of the Company even superficially Smt. Ekta Bhal said.

Appointment, Roles and Responsibilities of Directors under the Companies Act, 2013 the companies required minimum directors, such as Public company requires minimum 3 directors, private company requires at least 2 directors and one person company must have one director for that respective company she said.

First directors of a company until they are appointed by the general meeting could be named in the Articles of Association. In the absence of such a provision the individual subscribers to the Memorandum of Association would be deemed to be the First Directors. Listed company to have 1/3 of the total strength of the Board as Independent Directors and Other Companies. Central Government can notify other classes of companies to appoint Independent Directors. Independent Directors to be appointed from a data bank maintained by authorised bodies / institutions.

A company can appoint a managing director, if he is the managing director or manager of one, and of not more than one, other company if it is approved by a resolution passed by the consent of all directors at a meeting of the Board and a specific notice has been given to all the directors then in India Smt. Ekta Bahl, Partner, TATVA Legal stated at the interactive meeting.

Sri Srinivas Ayyadevara, President, FAPCCI, Sri Arun Luharuka-Partner, Luharuka & Associates, Hyderabad, Sri V.S Raju- Past President, Advisor, Corporate Affairs Committee, FAPCCI and Sri Ganesh Balakrishnan, Partner, Deloitte Haskins & Sells has participated at the meeting.