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)