Tuesday, March 27, 2012
Saturday, March 24, 2012
World’s 1st “Pack Walk” organized at People’s Plaza, Hyd
The Indian Institute of Packaging (IIP) Alumni in association with The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized “World Packaging Day” (1st Time in the world) celebrations and World’s 1st “Pack Walk” from People’s Plaza, Necklace road to Sanjeevayya Park, Hyderabad today (24th March 2012). Mr. Kasu Venkat Krishna Reddy, Hon’ble Minister for Co-operation was the chief guest for this occasion.
Mr. V.S. Raju, President, FAPCCI, Mr. B.K. Karna, Deputy Director, Indian Institute of Packaging, Mr. V. Anil Reddy, President, AP Plastic Manufacturers Association, Mr. Rajiv A Mehta, Vice President, AGI Plast, Mr. Chakravarthy, Chairman, IIP, Hyderabad, Mr. N.C. Saha, Chairman, IIP Alumni, Dr. Ashok Kumar Kedia, Chairman, Youth & Women’s committee, FAPCCI are the other speakers at the occasion.
Mr. Kasu Venkat Krishna Reddy said that the Packaging industry plays a very important role in Industrial & Economical development. In the era of retail world, packaging is not only protects the product but also it plays a vital role in terms on attraction, communication and brand promotion. The role of packaging in the modern marketing scenario is well established as it plays a great role for the value addition, cost reduction and also to enhance the shelf life of any commodity goods. We use lots of packaging materials since morning to evening. The disposal of these packaging materials is also to be looked upon to save our environment. We have learnt the concept of packaging from our “Mother Nature”, so we have our primary responsibility to save our Nature also. We must follow the 4R's hierarchy in designing a packaging i.e. Reduce, Reuse, Recycle and Recover.
Every day is dedicated for some profession, it gives me pleasure to note that Packaging professionals have got one day to dedicate i.e., March 24. This day as world packaging day has been initiated by Packaging Professionals of India that from Hyderabad, Packaging professionals of 20 countries are observing this day as World Packaging Day. PACK WALK of the occasion of World Packaging day I wish all Packaging professionals for Great Career ahead.
Mr. V.S. Raju said that the Indian packaging industry itself is growing at 14-15% annually. This growth rate is expected to double in the next two years. Indian Packaging industry is USD 14 billion and growing at more than 15% p.a. These figures indicate towards a change in the industrial and consumer set up. However, the Indian fascination for rigid packaging remains intact. It is estimated that more than 80% of the total packaging in India constitutes rigid packaging, which is the oldest and the most conventional form of packaging. The remaining 20% comprises flexible packaging. Rigid packaging constitutes glass bottles, metal cans, aerosol cans, battery cell cans, aluminum collapsible tubes, injection moulded plastic containers made of PVC, PET, HOPE, barrels made from HOPE, paperboards, and corrugated boxes. The materials used in packaging industry throughout the globe, paper shares the most, 36%, metal is 17%, plastic takes 34%, glass takes 10% and other occupies 3%.
According to the type of packaged products, Beverages take 18%, food take 38%, pharmaceutical products take 5%, cosmetic products take 3% and other products take 36% of overall packaging industry. Global market value on food packaging is 161 US$ billion, beverage packaging is 76 US$ billion, Pharmaceutical packaging is 21 US$ billion, cosmetic packaging is 13.3 US$ billion and other is 153 US$ billion.
Investment opportunities in Saarland, Germany
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized Presentation on ‘Economy & Business Opportunities in Saarland, Germany’ on 22nd March 2013 at Federation House, Red Hills, Hyderabad.
Ms. Anja Petschauer, Project Manager, Marketing and Promotion, Saarland Economic Promotion Corporation, Mr. Devendra Surana, Senior Vice President, Mr. Srinivas Ayyadevara, Vice President, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, Mr. Venu Varma Kalidindi, Managing Director, KVK Consulting Pvt. Ltd., Mr. Hari Haran, Co Chairman, International Trade Committee and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
Ms. Anja Petschauer invites the investments to Saarland, Germany to invest in Automobile, Biotechnology, Nanotechnology and IT sectors. Saarland is small but quick – that’s how Saarland sees itself as a place to do business. With its small size and lean management, the state delivers quick decisions to investors. The cost of labor in Saarland is also small, averaging 7.5% less than elsewhere in western Germany.
Saarland is the third-largest automotive location in Germany. Due to its geographical and historical position in Europe at the interface between the two biggest European economies – Germany and France – Saarland offers a high level of expertise in the areas of logistics, the automotive sector, IT, biotechnology, and nanotechnology. 75% of the automotive production in Europe is concentrated within a 500 km radius of Saarland. Other important branches of industry are mechanical engineering, metal-working, the food sector and fine ceramics, tile and porcelain, energy, coal, iron and steel. Many international companies have their production sites and logistics centers in Saarland – a great potential for finding partnerships, customers and synergies in the immediate proximity. The GDP of Saarland grew by 4.7% in 2010. The central location in one of the most stable economic regions in the world makes it one of the most intriguing locations for companies in all sectors.
Mr. Devendra Surana said that the Germany is India’s biggest trading partner in Europe and the 5th biggest trading partner in the world. Germany is also India’s second largest technology partner. India was amongst the first countries to recognize Federal Republic of Germany (FRG) after the Second World War. There has been a rapid growth in trade and economics with bilateral trade reaching Euro 15.44 billion in 2010. In 2011-12, India and Germany are both non-permanent members in the UNSC, which provides a new area for cooperation. Indo-German cooperation in the field of trade and economics is led by the Joint Commission on Industrial and Economic Cooperation. In addition, there are seven Joint Working Groups, namely, on agriculture, automobile, infrastructure, energy, coal, tourism and vocational education.
“Pack – Walk” Marathon on 24th March 2012
Mr. B.K. Karna, Deputy Director, Indian Institute of Packaging, V.S. Raju, President, FAPCCI, Mr. V. Anil Reddy, Chairman, Energy Committee, Mr. M.V. Rajeshwara Rao, Secretary General, Mr. S.S. Raju, MD, Progrssive Packaging Private Limited, Mr. Shanthanu, Executive Officer, Reddy Labs has addressed the media.
Hyderabad, Andhra Pradesh – We are happy to inform you, that IIP Alumni Association is an offshoot of Indian Institute of Packaging, an Autonomous body under the Ministry of Commerce & Industry, Govt. of India. They have been rendering the sacred duty of indoctrinating Training, Testing, Consultancy, Research & Development in the field of Packaging.
The Alumni Association, in Conjunction with IIP has been rendering Yeoman service to Industry, Commerce & Trade, in spreading Education, Employment & Entrepreneurship Development to the packaging Industry, in general, and for the Preservation of our Precious planet, from Exploitation. In fact, our goal is aimed at a total green revolution.
Packaging Industry is considered to be a sunrise Industry, with a total turnover of 14 billion US dollars and it is expected to reach about 18 billion dollars by the year 2015. The Industry is growing at a rate of 15% annually.
We may kindly take liberty to inform you, that the Hyderabad Centre of IIP was inaugurated by the Late Lamented Dr. Y. S. Rajasekhara Reddy, Chief Minister Of Andhra Pradesh on 24th March, 2006. In other words, we have completed six successful years of service, in achieving the above objectives.
This year, we, at the Alumni Association, have taken the Initiative, to celebrate the event as “WORLD PACKAGING DAY” with a “PACK –WALK” at the Necklace Road, which starts at 9 Am on 24th March, 2012, from the People’s Plaza to the Large Circle of NTR Marg and back to the People’s Plaza, in Association with Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI).
We have invited Sri Kasu Venkat Krishna Reddy, Hon’ble Minister for Cooperation as Chief Guest for the Occasion.
Happy to inform that the country has got the “BEST” Institute in the field of packaging with large infrastructural facilities for the dissemination of knowledge and information in packaging. And thus, today, the country has become the “GLOBAL HUB” for the supply of all types of packaging materials and as well as packaging education through Indian Institute of Packaging.
India- South Australia bilateral trade US$40 by 2016
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Australian Delegates Interactive Meeting with FAPCCI Team on “Emerging Trends in Bilateral Trade” on 20th March 2013 at Federation House, Red Hills, Hyderabad.
Mr. V.S. Raju, President, FAPCCI, Ms. Cheng Teoh, Manager-International Trade, Business South Australia, Ms. Shelley Elder, CEO, Axeze Pty Ltd, Mr. Samuel Kaladari, Mg. Director, Kaladari Industries, Dr Nhiem Lu, Executive Director, Solution Forest Pty Ltd, Ms. Cathy Adele Beitz, Company Dir., Our Bizniss Productions Pty Ltd, Mr. K.Graeme George, Company Dir., One Tap Publishing Pty Ltd, Mr. Patrick Crowe, Managing Director, Transtainer, Mr. Ramakrishna Dastrala, Business Development Manager, Australian Trade Commission, Ms. Sangeetha Krishnamoorthy, Business Development Manager, Australian Trade Commission, Mr. Devendra Surana, Senior Vice President, Mr. Srinivas Ayyadevara, Vice President, Mr.Shyam Sunder Pasari, Chairman, International Trade Committee and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
Ms. Cheng Teoh said that the South Australia is one of the exciting investment destination for international developers in the Asia Pacific. She invites the investments to invest in mining, defense, clean technology, manufacturing, agriculture, wine and health services and education sectors in South Australia.
Mr. V.S. Raju said that the India and Australia have a strong and productive bilateral partnership. Australia’s relationship with India has increased in line with India’s rapid economic and strategic growth. India is now Australia's third largest merchandise export market, and Australia was India's eighth largest trading partner. India and Australia have embarked upon talks to conclude an ambitious Comprehensive Economic Cooperation Agreement and the latest engagement resulted in an initiative being launched to develop two-way trade between the two nations and its success is expected to add over $40 billion to each economy by 2016. I am sure, with the frequent visits of Australian Officials and greater awareness about the Australian market, the target set would be definitely achieved. So far, Indian companies have invested around $3 billion in Australia, dominated by coal. Recently, the GVK Group announced a deal to acquire Hancock Coal for $1.26 billion. It plans to invest an additional $6 billion to develop assets. Early this year, Lanco Infratech acquired assets of Griffin Coal in a $760-million deal. Australia has so far attracted a global investment of $83 billion in the resources sector alone, while the pipeline is at an estimated $430 billion.
Post Budget Analysis 2012-13
Tuesday, March 20, 2012
FAPCCI to lead delegation to Israel
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Israel Chamber of Commerce organized a Press Meet on “Indo-Israel Trade relations” and have announced the FAPCCI delegation to Israel to participate in “Agritech 2012” will be held in Tel Aviv, Israel between 15 -17 May, 2012.
To workout modalities to take a delegation to Israel, Israeli embassy officials Mr. Mouneer Aghbaria, Consulate General & Chief of Economic Affairs, and Mr. Yonathan Ben Zaken, Chief Investment Director, Govt. of Israel along with Mr. Ken Udai Sagar, President, Israel Chamber of Commerce had detailed deliberations with FAPCCI officials Mr. V.S Raju, President, Mr. Srinivas Ayyadevara, Vice President, Mr. M.V. Rajeshwara Rao, Secretary General, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations and Mr. AS Kumar, Deputy Secretary General, FAPCCI.
“Agritech 2012” (Premier Agriculture World Show) will be held in Tel Aviv, Israel between 15 -17 May, 2012. In this connection India will be special showcase country as both Israel and India are celebrating 20 years of Diplomatic relations.
They will be the Government of India, delegation and different states are taking advantage of this event. FAPCCI along with its own delegation will join Govt. of AP, Agriculture Dept who are also planning to attend this event. This delegation will contain groups associated with water management, dairy, food processing, and allied, agriculture related sector. The trade between India and Israel has touched 6 billion US$.
Indo-Indonesia Trade and Investment Relations
The Embassy of Republic of Indonesia organized an Interactive Meeting with FAPCCI delegation on “The Indo-Indonesia Trade and Investment Relations: High Expectations for the Future” on 17th March 2012 at Hotel Taj Krishna, Hyderabad. The Republic of Indonesia ambassador Lt. General ® Andi M Galib and Counselor Leonard F. Hutabarat, Mr. V.S. Raju, President, FAPCCI, Mr. Devendra Surana, Senior Vice President, FAPCCI, Mr. Srinivas Ayyadevara, Vice President, FAPCCI and Mr. M.V. Rajeshwara rao, Secretary General has participated in the interactive session.
Mr. V.S. Raju said in his key note address is that the Indonesia is our second largest export market in ASEAN (after Singapore) and one of our leading export destinations among developing countries. Economic relations between India and Indonesia go back to ancient times, contributing to the historical and civilization affinities between the two countries. Bilateral relations took off after India launched its Look East policy in 1993 and since then, India’s relationship with the ASEAN and its bilateral engagement with Indonesia have assumed a mutually reinforcing character. The strategic component of their bilateral relationship with emphasis on building regional peace and security has further created a common ground between the two countries.
Indian business leadership developed economic ties with Indonesia since the 1970s. Current Indian investments into Indonesia are estimated at US$ 2 billion. The proposal to negotiate an economic agreement with Indonesia (formally, ‘India – Indonesia Comprehensive Economic Cooperation Agreement) has the potential to advance Asian economic cooperation, while expanding the economic and strategic space for both countries. The bilateral relationship between India and Indonesia are governed by an almost perfect convergence of interests, which is ideal for negotiating an economic partnership. However, despite this convergence the reality of the India – Indonesia relationship is that it is yet to live up to its potential.
Impact of Union Budget on Trade & Industry
FAPCCI in association with Jain International Trade Organization (JITO) organized a meeting on “Union Budget – 2012 – Impact on Industry and Trade” on March 17, 2012 at 10.00am at FAPCCI.
Sri V.S. Raju, President, Sri Devendra Surana, Senior Vice President, Sri Abhay Kumar Jain, Chairman- Direct Taxes Committee, Sri M.Jayadev, Chairman- Indirect Taxes Committee, Sri M.V.Rajeshwara Rao, Secretary General, FAPCCI, Sri Dheeraj Bhai Kapadia, Chairman, Sri Sanjay Dugar, Chief Secretary - JITO - Hyderabad Chapter are the other speakers at the occasion.
Sri V.S.Raju, President – FAPCCI in his welcome address expressed that the Union Budget presented by Finance Minister falls short of expectations from the Industry and common man. Industry expected a major push to the growth stimulus to the investment. Though measures like Rs. 60,000 crores tax free bonds for infrastructure is a good measure but these bonds have to be subscribed by the banks, corporate and retail investors – Will they have surpluses to invest is a question?
Dr. Jayaprakash Narayan, President, Lok Satta Party in his key note address stated that India is the lowest tax incidence in GDP when compare to Global. The emphasis on Health, Energy, Coal and Infrastructure is a welcome measure. The concept of Taxing Services based on negative list leads to transparency, broadly the indirect taxes direction is good. He further informed that poor remains poor, economy shall not grow, for eradication of the poverty, the four sectors should be strengthened i.e., agriculture, health, education, job and skill up gradation.
Sri T. S. Ajai, Chartered Accountant has explained the amendments to the sec 9 of the IT Act with retrospective effect to bring under the tax net, all overseas transactions involving domestic firms. GAAR is the other big-ticket measure that will come into effect in 2012-13 ahead of DTC. The objective is to counter aggressive tax avoidance schemes, “while ensuring that it is used only in appropriate cases, by enabling a review by a GAAR panel.” The scheme is relevant in the backdrop of the Vodafone tax case, in which the income tax department recently lost a case on a tax demand of Rs 11,000 crore on the UK telecom company after it acquired Hutchison’s stake in what was Hutchison Essar.
Sri Abhay Kumar Jain , Chairman – Direct Taxes Committee stated that our Pre Budget Memorandum pointed out that General Anti Avoidance Rule (GAAR) provisions should not be introduced as it is likely to cause uncertainty and lack of clarity for taxpayers which in turn will lead to extensive litigation. However, considering the provisions of GAAR which are very broad, more litigation is foreseeable. Further, at a time when foreign investors are willing to invest in India, such provision could act as a hindrance which in turn will impact the economy adversely.
Dr. Sutanuka Dev Roy, Associate Professor, ASCI has touched upon the implications of Union Budget on Economy. In the financial year 2011-12, fiscal deficit has been estimated to be 5.9% of GDP. Fiscal consolidation is required, for which expenditure reforms, subsidies, tax reforms and disinvestment policy need to be streamlined. The most important among them has to be expenditure on subsidies given that the government has exceeded the planned budget subsidy expenditure by Rs. 100,000 crores this financial year.
Sri S. Thirumalai, Sr. Advisor, Deloitte Touche Tohmatsu India Pvt. Ltd., has focus on Indirect Taxes amendments i.e., Service tax net widened to all services barring on the negative list. The summary of the indirect taxes amendments is Common registration and return forms for Excise and Service Tax, Proposal for harmonization through introduction of common tax code for Service Tax and Excise, GST Network to be operational from August 2012.
The Programme ended with Vote of Thanks by Sri Sri Susheel Kapadia
Finance Minister falls short of expectations from the Industry
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized a Press Meet on “Reflections on Union Budget 2012-13” on 16th March 2012 at Federation House, Red Hills, Hyderabad. Mr. V.S. Raju, President, FAPCCI, Mr. Devendra Surana, Senior Vice President, Mr. Srinivas Ayyadevara, Vice President has addressed to the media. Managing Committee members, Chairman’s from various expert committees and Mr. M.V. Rajeshwara Rao, Secretary General and Mr. A.S. Kumar, Deputy Secretary General where also presented.
Today’s budget presented by Sri Pranab Mukherjee, Finance Minister falls short of expectations from the Industry and common man. Industry expected a major push to the growth and stimulus to the investment. Though measures like Rs. 60,000 crores tax free bonds for infrastructure is a good measure but these bonds have to be subscribed by the banks, corporate and retail investors. Already corporate taxes this year have come down in view of lower profits. It is uncertain that in 2012-13 more funds would be available to subscribe to the Bonds.
Similar is the case with the retail investors as they have not got income tax benefit by increasing income tax exemption threshold limits. The ECB route is a welcome move. This will provide funds for investments. But if there is increase in ECB, there is a danger of rupee value coming down which will further put pressure on economy.
As far as power sector is concerned, exemption of import duty on import of coal will in short term provide relief to the power sector. But in long term increased power generation and power distribution requires measures which were not provided for in the budget. Other situation which is bothering the power sector is transmission and distribution, which should have been given more filip and exemptions for investments. Increasing investments in capital assets for transmission and distribution is the urgent need of the hour. The Southern grid is suffering from corridor constraints.
A good boost is given to textile industry. Some import concessions have been given to fertilizer industry.
To help aviation industry ECB investments facility is given. To make India a hub for aircraft Maintenance, Repair and Overhauling (MRO) the Finance Minister has given several import duty concessions and ECB funding.
As far as taming inflation in the coming year is concerned, there are concerns as the increase in the Excise Duty and Service tax by 2 percent points will trigger inflation combined with the inflation coming from the oil imports. Further, the market borrowings of Rs. 4.79 lakh crores by the government would crowd the market and availability of funds for private investment will be less.
There are welcome features like limiting subsidies to 2% and to 1.75% in future. It is a good measure to control subsidies.
For retails investors, investment in equity likes Rajiv Gandhi Equity Scheme and reduction of STT by 20% and allowing E.C.B. is a good step for capital markets.
Overall this budget is not a growth-oriented budget to the extent expected by the Industry.
Felicitation to the Hon’ble Speaker of Rajasthan & MLA's
France is the seventh-biggest foreign investor in India
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Investment in France Agency in India organized Interactive Meeting on “India-France Bilateral Trade” on 15th March 2013 at Federation House, Red Hills, Hyderabad. Mr. Dominique Frachon, Managing Director and Head of Investment in France Agency in India were the chief guest for this occasion. Mr. V.S. Raju, President, FAPCCI and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
Mr. Dominique Frachon said in his key note address is that the France is the seventh-biggest foreign investor in India with approximately USD 750 million. More than 300 French companies established in India, employment of over 40,000 people. France holds approximately 1.7% of market share in India, making it India’s 15th supplier and 11th customer. After exceeding the one billion euro mark in 2001, French exports increased sharply in 2004 (+29%) and in 2005(+42%), for a total of nearly ¼3 billion in 2007.
Mr. Frachon invited the investments to the Agro-industries, Power, Environment, Drugs and pharmaceuticals, Auto parts, Hydrocarbons, Telecommunications, Infrastructure, Information technology sectors from Indian businessmen.
World Consumers Day Celebrations
The Department of Civil Supplies, Government of Andhra Pradesh in association with Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) celebrated world consumers day celebrations and world consumers day diamond jubilee celebrations today (15th March 2012) at Federation House, FAPCCI Marg, Red Hills, Hyderabad. Mr. D. Sridharbabu, Hon’ble Minister for Civil Supplies was the chief guest for these celebrations. Mr. Haripreeth Sing, IAS, Commissioner, Civil Supplies, Mr. Chakravarthi, IAS, Director, Civil Supplies, Mr. Krishna Babu, Legal Meteorologist, Mr. V.S. Raju, President, FAPCCI and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
The Railway Minister Sri Dinesh Trivedi has presented a bold budget
The Railway Minister Sri Dinesh Trivedi has presented a bold budget. The budget appears to set a direction in terms of restructuring the railway board level management by proposing to add two members, one for PPP and the other for safety; in terms of improving operational performance by 10persentage points, which though appears to be deficits, yet a desirable one as it sets a tone for improving the productivity; in terms of bringing in some innovative majors for safety logistics up gradation of stations average speeds of the trains etc.
However the railways are losing out to road trance port which is reflected by a lower goods and passengers transportation. Nearly 30% increase in overall freight rates the railway budget will trigger inflationary trend in the economy as goods transport cost will increase the proposals to introduce Indian railway station development corporation, logistics corporation and other projects in PPP mode are welcome moves.
Thursday, March 15, 2012
Bilateral merchandise trade between Canada and India in 2010 is C$4.2 billion
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Trade Commission, Belgium organized Interactive Meeting on “India-Canada Bilateral Trade & Growing Market” on 14th March 2013 at Federation House, Red Hills, Hyderabad. Ms. Sara Wilshaw Minister (Commercial) and Senior Trade Commissioner of Canada was the chief guest for this occasion.
Mr. V.S. Raju, President, FAPCCI, Mr. Vikram Jain, Trade Adviser, Canadian Trade Office, Hyderabad, Mr. Devendra Surana, Senior Vice President, Mr. Srinivas Ayyadevara, Vice President, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, Mr. Hari Haran, Co Chairman, International Trade Committee and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
Ms. Sara Wilshaw said in his key note address is that the India is a vital trade partner for Canada. Canada’s commerce strategy for India involves the coordination of efforts by Canada's missions in India, federal government departments, provinces, and the private sector. This strategy has defined priority sectors to increase two-way trade, investment and technology partnerships. These priority sectors include: education, clean technologies like renewable energy etc and information and communications technology and infrastructure.
According to Statistics Canada, bilateral merchandise trade between Canada and India in 2010 is C$4.2 billion, an increase of 46.6 percent since 2005. While Canadian merchandise exports to India in 2010 is C$2.1 billion, imports from India reached C$2.1 billion. Despite the small decrease in Canadian exports to India in 2010, exports to India have increased by 92.2 percent since 2005.
Top Canadian exports to India include vegetables, fertilizers, paper and paperboard, machinery, wood pulp, precious stones, and iron and steel. Canadian imports from India include organic chemicals, precious stones and metals, knit apparel, woven apparel, machinery, and iron and steel.
Canada and India signed a Canada-India Agreement for Scientific and Technological Cooperation in November 2005 to foster greater bilateral Science & Technology collaboration in five priority areas like nano-science and nano-medicine; information and communications technology; biotechnology, health research and medical devices; sustainable and alternative energy and environmental technologies; and earth sciences and disaster management. From 2005 to 2010, joint funding from Canada and India for S&T collaboration is C$13.5 million Ms. Sara Wilshaw said.
Mr. V.S. Raju said that the Comprehensive Economic Partnership Agreement (CEPA) will be finalized by 2013 and trade between both the countries is set to touch $15 billion by 2015. The proposed CEPA between India and Canada will further the trade and would provide a considerable boost to the trade and investment flows between the two countries. The Industry and Trade thank the Govt. of Canada for opening its Trade Office in Hyderabad, for giving special impetus in improving the business with Andhra Pradesh.
Wednesday, March 14, 2012
Belgium 4th Country for Foreign Investment
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Trade Commission, Belgium organized Interactive Meeting on “Business Opportunities’ in Flanders, Belgium” on 13th March 2013 at Federation House, Red Hills, Hyderabad. Ms. Jayant Nadigar, Trade Commissioner of Flanders, Wallonia and Brussels Region of Belgium was the chief guest for this occasion.
Mr. V.S. Raju, President, FAPCCI, Mr. Hari Haran, Co Chairman, International Trade Committee and Mr. M.V. Rajeshwara Rao, Secretary General are the other speakers at the occasion.
Ms. Jayant Nadigar said in his key note address is that the according to a recent report by UNCTAD (United Nations Conference on Trade and Development), foreign direct investment in Belgium rose by more than 50% from 2009 to almost $62 billion in 2010. Foreign direct investment worldwide increased by 5%, so Belgium definitely outpaced the global trend. Belgium is ranked as the fourth most attractive country for foreign direct investment, after the United States ($228 billion), China ($106 billion) and Hong Kong ($69 billion). Belgium was also 10th in the world ranking for outgoing direct investment ($38 billion).
He also said that the Belgium is the second largest trading partner of India in the European Union with annual bilateral trade turnover amounting to 10.4 billion Euro in 2010. India is the 5th largest exporter to Belgium (after USA, China, Japan and Russia) and 2nd largest importer of Belgian products in 2010 (after USA). Belgium has emerged as the 23rd largest investor in India worldwide and the 9th largest within the EU. The major items of Indian exports to Belgium are - Precious stones; Textiles and garments; Iron and steel; Chemical products; Mineral products; Organic chemicals; Machinery and Electrical Equipments etc. The major items of Indian imports from Belgium are- Precious stones; Iron and steel; Machinery and mechanical appliances; Chemical products; boilers, machinery and mechanical appliances & parts thereof: Organic chemicals; Plastic and rubber; Plastics and articles thereof; Pharmaceutical products etc.
The Flanders Investment & Trade agency is the government agency promoting sustainable international entrepreneurship, involving outward trade as well as inward investments, requires not only a thorough knowledge of the Flemish economic tissue, but also an extensive network outside of Flanders. Flanders Investment & Trade has a worldwide network of economic and trade representatives to help you source the quality products and services you require. Our experienced representatives provide personalized advice and answer your questions about Flemish goods and services. Travelling throughout their base countries, they pro-actively seek out business opportunities and strategic export partners Mr Jayant said.
Mr. V.S. Raju said that the Trade Commissioner of Flanders, Wallonia and Brussels Region of Belgium and is responsible for South India, for promoting exports, technology, products and services. The Trade Commissioner Office helps to connect with the Belgium companies, sourcing products or services from Belgium or seeking new business partnerships ranging from joint ventures to technology transfers. The Office also assists foreign businesses seeking to set up or expand in Flanders, viz. production or R&D facilities, contact centers, headquarters or logistics operations - or a combination of any of these - it provides the right kind of advice and guidance free of charge.
Monday, March 12, 2012
Agricultural development plays a vital role in Nation’s economic development
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Alabama University, Alabama, organized Women’s Day Celebrations on 9th March 2013 at Federation House, Red Hills, Hyderabad. Mr. William Batchelor, Dean, College of Agriculture, Auburn University, Auburn, Alabama was the chief guest for this occasion.
Mr. William Batchelor said in his key note address is that the agricultural development makes a critical contribution to overall economic growth in many developing countries. As farmers’ incomes rise, so does their demand both for farm inputs and services, and for non-farm goods. Increased agricultural production also leads to increased demand for processing facilities. Rapid growth Agricultural growth and development require investment and technology. With them huge productivity gains are possible. Over the past 20 years, increases in government spending on agriculture in East and South Asia have been clearly linked to rapid growth in agriculture and to progress towards achieving the Millennium Development Goals.
In developing countries, it has all too often bypassed the most needy farmers, offering solutions that are beyond their reach or simply inappropriate to their livelihoods. The challenge is to develop technology in a way that is relevant to small farmers and to create the conditions they need to transform their small plots into viable small businesses that make a vital contribution to local and national economies Mr. William Batchelor said.
Mr. V.S. Raju said that the Andhra Pradesh has bountiful natural resources endowed with fertile land, water and conducive agro-climatic conditions. It is an agriculturally-prosperous State and largest producer of rice in India. The State is also the leading producer of cash crops like Tobacco, Groundnut, Chillies, Turmeric, Oilseeds, Cotton, Sugar and Jute. It produces some of the finest fruit varieties of mango, grapes, guava, sapota, papaya and bananas.
The Government has taken many policy initiatives and missions to strengthen the farm credit delivery system for providing credit at affordable rates of interest to support the resource requirements of the agricultural sector. The emphasis of these initiatives is to provide timely and adequate credit support to farmers with particular focus on small and marginal farmers. The initiatives strive to enable and motivate the farmers to adopt modern technology and improved agricultural practices for increasing agricultural production and productivity.
Friday, March 9, 2012
FAPCCI Delegation participated at Holi Celebrations at Raj Bhavan
FAPCCI delegation consisting Mr. V.S. Raju, President, Mr. Devendra Surana, Senior Vice President, Mr. Shekhar Agarwal, Past president, Mr. V. Anil Reddy, Chairman, Energy Committee, Mr. O.P. Tibrewala, Past President, Mr. Nitin K Parekh, Chairman, Trade and Commerce Committee, Mr. Abhay Kumar Jain, Chairman, Direct Taxes Committee, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations Committee, Mr. Ravindra Modi, Chairman, Tourism Committee, Mr. Radha Krishna Agarwal ,Co Chairman, Tourism Committee, Mr. V.V. Sanyasi Rao, Chairman, Rural Development Committee, Mr. Hari Haran, Co Chairman, International Trade Relations Committee, Mr. Ramakanth Inani, Managing Committee Member have participated at Holi Celebrations, at Raj Bhavan, Hyderabad, organized by His Excellency Mr. ESL Narasimhan, Hon’ble Governor of Andhra Pradesh.
In this occasion FAPCCI delegation also celebrated Holi with Commissioner of Police Mr. A.K. Khan, IPS.
Women’s Day Celebrations at FAPCCI
The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized Women’s Day Celebrations on 8th March 2013 at Federation House, Red Hills, Hyderabad. Mrs. Swaroopa Rani, State Secretary General, AIDWA was the chief guest for this occasion.
Mr. V.S. Raju, President, FAPCCI, Mrs. Rajam Ganeshan, Mrs. Karuna, Secretary, ALEAP and many other women entrepreneurs have the key speakers at the occasion.
Monday, March 5, 2012
Banks playing significant role in Nation economic development
The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with Matrusri Institute of Post Graduate Studies organized a Seminar on “Emerging Trends in Banking and Insurance” on 5th March 2012 at Surana Udyog Auditorium, Red Hills, Hyderabad. Mr. Radhakrishnan Nair, Member, IRDA was the chief guest for this occasion.
Mr. V S Raju, President, FAPCCI, Mr. B. Krishna Reddy, Head, DBM, Osmania University, Prof. M. Basavaraja, Principal-MIPGS, Mr. Srinivas Ayyadevara, Vice President, FAPCCI, Mr. Shiv Kumar Rungta, Chairman, Banking, Finance & Insurance Committee, Mr. Lakshmikanth Inani, Co-Chairman, Banking, Finance & Insurance Committee, Mr. M.V. Rajeshwara rao, Secretary General, FAPCCI are the key speakers at the occasion.
Mr. Radhakrishnan Nair said in his key note address is that the Banks over the years have become a significant aspect of an economy. With the ongoing financial depression, the position of banks have become all the more important in the course of working of the money market and hence the economy of a nation. The banking sectors forming apportion of the financial sector primarily works as a financial intermediary generating money supply. From the different macro economic models, banks have been found to be a part of the supply side of the economy. However, over time banks have transformed from merely money generating organizations to a multi tasking entity.
He also said that In India, as in many developing countries, the commercial banking sector has been the dominant element in the country’s financial system. The sector has performed the key functions of providing liquidity and payment services to the real sector and has accounted for the Bulk of the financial intermediation process. Besides institutionalizing savings, the banking sector has contributed to the process of economic development by serving as a major source of credit to households, government, and business and to weaker sectors of the economy like village and small scale industries and agriculture. Over the years, over 30-40% of gross household savings, have been in the form of bank deposits and around 60% of the assets of all financial institutions accounted for by commercial banks.
Mr. V.S Raju said that the need for Financial Literacy is felt in all the countries alike. In developed countries the increasing number and complexity of financial products, the continuing shift in responsibility by governments on providing social security and avenues to provide individual retirement plans makes it imperative to step up financial literacy. In addition, the substantial growth of international transaction during the last decade, resulting from new technologies and growing international mobility of individuals, makes the improvement of Financial Literacy, increasingly an international concern. From a regulatory perspective, this attempt empowers the common person, reduces the burden of protecting the common person from the elements of market failure attributable to information asymmetries. The emphasis of market discipline, as one of the three pillars of banking regulation, especially under Basel II, is best served by participation of Financially Literate Bank Customers in the financial markets. Financial Literacy makes a different in quality of life that an individual can afford, but also regulates integrity and quality of markets. Educated customers, can benefit the economy, encourage genuine competition, forcing service providers to innovate and improve their efficiency levels.
FAPCCI demands Power for Industry- Mr. Devendra Surana, Sr VP, FAPCCI
FAPCCI has been in continuous touch with AP TRANSCO Officials since August of the last year. In the month of November 2011 TRANSCO Officials proposed to get a scheme Where in Industries in dire need could get some power at cost from RLNG. The present situation is a 15% - 18% Shortage of power in the system.
However, Industry is being forced to accept 40% power cut. Industry has several sunk Cost in terms of Interest, Depreciation, labour and other overheads which cannot be avoided. On the other hand, there is tremendous pressure from Customers and Bankers to meet the commitments.
In such a situation TRANSCO once again called in for a meeting. Various Deputy Engineers called upon people and over 200 people have attended the meeting expecting some ray of hope.
Once again the Electricity officials let us down without giving any solution. The Other day in the meeting held with Mrs. Geeta Reddy, Minister for Industries, it was promised that a short term solution would be worked out soon.
We request power to be generated from Imported RLNG and given at regular cost to SSI Sector. Medium and large scale sectors can be asked to pay a little higher. The entire Industry is in distress and demand power from Imported RLNG should be offered to Industries immediately.
Saturday, March 3, 2012
FAPCCI welcomed the Supreme Court Judgment on “VODAFONE VERDICT”-
The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with International Fiscal Association - Hyderabad Sub Chapter & Institute of Company Secretaries of India - Hyderabad Chapter organized a Panel Discussion on Supreme Court Judgment on “VODAFONE VERDICT” on 2nd March 2012 at Surana Udyog Auditorium, Red Hills, Hyderabad.
Mr. V S Raju, President, FAPCCI, CS Shujath Bin Ali, Chairman, ICSI, Hyderabad Chapter , CA Neelesh V. Vithalani, IFA, Hyderabad Sub Chapter, Mr. P.V.V.S. Prasad, Chartered Accountant, Partner, Prasad & Prasad Co, Mr. T.S. Ajai, Chartered Accountant, Partner, T.S. Ajai & Co, Mr. Jayesh Sanghvi, Chartered Accountant, Partner, Ernst & Young, Mr. Sampath Raghunathan, Chartered Accountant, Mr. Srinivas Ayyadevara, CA, Vice President, FAPCCI, Mr. Abhay Kumar Jain, Chairman, Direct Taxes Committee, FAPCCI are the key speakers at the occasion.
The Tax experts and industrialists have welcomed the Supreme Courte judgment on the landmark verdict on India’s most debated tax dispute of VODAFONE. It will enhance the trust of international investors in Indian judicial system and it will send a clear message to international community about the supremacy of the rule of Law in India. And it will send positive signal to foreign investors and will beneficial for the Foreign Direct Investments (FDI) in long run. We also foresee income tax department will Legislate some form of GAAR. The panelists have come to conclusion that due to the lack of clarity and absence of appropriate provisions in the statute and treaty has led to unnecessary litigation in this case. It is the duty of the court to ascertain the legal nature of the transaction and while doing so it has to look at the entire transaction as a whole and not to adapt a dissecting approach.
Mr. Abhay Kumar Jain is predicting that tax administration will bring GAAR provisions and other anti tax avoidance measures to curb the loopholes available in existing income tax act in coming budget. And many provisions contained in propose DTC will be incorporated in the forthcoming Union Budget.
India-Australia bilateral trade 40 Billion US$ by 2015
The Institute of Indian Economics in association with The Federation of Andhra Pradesh Chambers of Commerce & Industry organized a Interactive Meeting with “” on 2nd March 2012 at JS Krishna Moorthy hall, Red Hills, Hyderabad. Mr. David Holly, Australian Consul General to South India, Mr. Matthew (Matt) Crooke, Minister – Counselor (Economic), Australian High Commission was the key speakers at the occasion.
Mr. V S Raju, President, FAPCCI, Dr. U. Subrahmanyam, Director, Indian Institute of Economics, Mr. Devendra Surana, Senior Vice President, FAPCCI, Mr. Srinivas Ayyadevara, Vice President, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations Committee, FAPCCI, Mr.Ramakrishna Dastrala, Business Development Manager, Australian Trade Commission, Ms.Sangeetha Krishnamoorthy, Business Development Manager, Australian Trade Commission, Mr. O. Swaminatha Reddy, Chairman, Indian Institute of Economics are the other speakers at the occasion.
Mr. V.S. Raju, President, FAPCCI said in his welcome address is that the Indian companies have invested around 3 billion dollars in Australia, dominated by coal. Recently, the GVK Group announced a deal to acquire Hancock Coal for 1.26 billion dollars. It plans to invest an additional 6 billion dollars to develop assets. Early this year, Lanco Infratech acquired assets of Griffin Coal in a 760-million dollars deal. Australia has so far attracted a global investment of 83 billion dollars in the resources sector alone, while the pipeline is at an estimated 430 billion dollars. In 2011-12, Australia has so far attracted a global investment of 83 billion dollars in the resources sector alone, while the pipeline is at an estimated 430 billion dollars.
Mr. David Holly, Australian Consul General to South India said that the growing of India and Australia bilateral partnership has doubled the from AUD 8 billion 10 2005 to AUD 22 billion in 2011, with trade expected to double again to US$ 40 billion by 2015. And this partnership launched CECA negotiations, which will have its third round next month. It is the growing strength of our bilateral investment partnership that has made Australia the third largest revenue source for India’s IT companies, many of which are located in this great State of Andhra Pradesh. Resources investment from Andhra has also been significant, including from companies like NMDC and GVK.
And it is the growing strength of our bilateral education partnership that has resulted in Australia’s Union education minister to visit South India in August last year after establishing with Union Minister for Human Resource Development, Kapil Sibal, the Australia – India Educational council. Working on the delivery of vocational education in India.