Government’s move to allow 100% FDI in marketplace e-retailing gives level playing field to brick and mortar stores: PHD Chamber

PHD Chamber of Commerce and Industry welcomes the government’s move to allow 100 per cent foreign direct investment (FDI) in online marketplaces, which will not only give a relief to ecommerce companies but the conditions or clarifications have also given a level playing field to brick-and-mortar rival stores, said Dr. Mahesh Gupta, President, PHD Chamber in a press statement issued here today.

The Chamber also appreciates the Government’s move which has clearly indicated that the e-commerce companies should not offer predatory pricing and only play the role of facilitators said Dr. Mahesh Gupta.

The government has further clarified that FDI has been permitted only in companies following the marketplace model and not the inventory based model. The guideline further says that warranties and after-sales service will be provided by sellers and not the marketplace companies, he said.

Marketplaces can, however, provide support services to sellers such as logistics, warehousing, order fulfillment; call centres, payment collection and other services. They can also engage in transactions with sellers registered on a B2B basis, added Dr Gupta.

Another significant guideline says that no group company or seller on a marketplace can contribute more than 25% of the sales generated on the site, which will encourage transparent pricing in the industry. The move will be beneficial for the sellers as they will be able to get the complete benefit of pricing, he added. 

These guidelines clearly indicate the changing role that e-commerce marketplaces will play in the Indian market, he said.

“It is a major announcement which will pave the way for accelerated growth of the e-commerce as well as retail sector in India”, said Dr. Mahesh Gupta.

COMMANDANT, CRPF, YES BANK’S EXECUTIVE VP, JSL LIFESTYLE AND NAV JYOTI FOUNDATION GIVEN AWAY ASTITVA AWARD-2016 OF PHD CHAMBER

Commandant, CRPF, Ms. Indrani Yadav; Yes Bank Group Executive Vice President and Regional Head, North & East, Ms. Neerja Singh; Creative Head and MD, JSL Lifestyle Limited, Ms. Deepikka Jindal and Dr. Kiran Bedi of Nav Jyoti India Foundation were conferred upon with “Astitva Award-2016” for promoting women empowerment here on Thursday.

The Astitva Awards, constituted by the PHD Chamber of Commerce and Industry were given away to the aforesaid awardees collectively by Secretary, Department of Empowerment of Persons with Disabilities, Dr. Vinod Aggarwal, Sr. Vice President, Vice President and Immediate former President, PHD Chamber, Mr. Gopal S Jiwarajka, Mr. Anil Khaitan and Mr. Alok B. Shriram and its Chairperson, Women & Child Development Committee, Ms. Anuradha Goel and Members of the Committee such as Ms. Priya Hingorani, Ms. Rajyashree Bajoria, Ms. Karuna Shriram with the Secretary General of the Chamber Mr. Saurabh Sanyal. 

Minister of Development Planning of the Plurinational State of Bolivia, Mr. Rene Orellana was the Guest of Honour on the occasion who appreciated the Award giving ceremony, emphasising that to recognize women empowerment is an initiative of very high degree in developing countries such as India.

Dance Ballet on the occasion was performed by Padmashri Guru Shovana Narayan which won thunderous applauses from the audience present at the PHD House.

The Awards were given away to Ms. Yadav, Ms. Singh, Ms. Jindal and Dr. Bedi for their outstanding contribution in their respective areas of expertise for promoting women empowerment.

The main objectives of the Women and Child Development Committee of the PHD Chamber on whose behalf the Awards have been constituted include primarily for creating awareness to enhance the quality of life of women at work place as also to recognise the commendable initiatives undertaken by the organisations in this field. 

PHD CHAMBER WELCOMES REVISED BUILDING PLANS

President, PHD Chamber of Commerce and Industry, Dr. Mahesh Gupta on Thursday welcomed the initiative of the Union Urban Development Ministry for releasing the unified building bylaws 2016 that would make approval of building plans in Delhi easier through a single window clearance.

Dr. Gupta complimented the government for revising the bylaws after a gap of 33 years, a move that would also amount to easing the conduct of business in the capital city as according to the newspapers reports, the single window clearance for building plans would mean that Delhi residents no longer should be running from one government agency to another to procure ‘no-objection certificate’.

“A single online integrated form for getting NOC from the local bodies for building plans would be a convenient way for each resident and it shows that the government would gradually remove such irritants that have existed in the statute book to make life easier”, said Dr. Gupta

HD Chamber Hails Delhi Budget, Focus On Socio- Economic Improvement Inspiring

While appreciating the budget presented by AAP, Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry said that budget has rightly focused on socio-economic segment of the economy.

The slashing of VAT rates from 12.5% to 5% would go a long way in making items of daily use such as sweets, snacks and savoury items, all ready-made garments, e rickshaws, battery operated vehicles, hybrid vehicles and marbles cheaper, said Dr. Mahesh Gupta.

The allocation to education sector to the tune of Rs.10690 crores is an inspiring step and is expected to foster socio-economic growth in the national capital in the coming times, said Dr. Mahesh Gupta.

Access to clean water to every household by 2017 is encouraging as it is necessary for better health and sanitation, he added.

Allocation of Rs.152 crore proposed for realizing the dream of Late Dr. A.P.J. Abdul Kalam is inspiring as it will skill youth for global competiveness, he added.

The state government’s commitment in fostering ease of doing business in Delhi is encouraging. The scrapping of 200 types of useless affidavits will go a long way to foster ease of doing business in the National Capital, said Dr. Mahesh Gupta.

NATIONAL WATER FRAME WORK LAW ON CARDS, CHAIRMAN, CWC

The government is moving with a faster pace to put in place a “National Water Framework Law” so that this precious resource is managed well optimally with the support of all states and union territories as its initial draft paper has already been sent out to all of them for their remarks, which are positive and encouraging, according to Chairman, Central Water Commission, Mr. G S Jha.

Addressing a “National Water Summit 2016” organized under the aegis of the PHD Chamber of Commerce & Industry here today, Mr. Jha observed that the proposed draft framework would have all the ingredients of the government national water policy as also intents of its attempts to provide for water security in view of evolving water paucity in the country.

‘’The  comprehensive draft on national water framework, which would be evolved with purely conciliatory approach in due course of time with states and union territories and help these manage their water resources since water is the state subject”, felt Mr Jha .

Though, he added that its contents have the support and endorsement of almost all stakeholders as managing water judiciously is becoming a challenge for each state, union territories and local governments.

However, Mr Jha did not prescribe a particular time limit by when the framework law would be implemented as progress on it is moving with a faster speed but hoped that t it would evolve into a document which would not only emerge as a guiding principle to manage water resources across the country but also help resolve inter-state water disputes in an equitable proportion.

According to him, the national water policy as also the proposed water security would be part of this framework and also provide for equipping the masses with minimum quantity of water consumption as and when this document achieved its constitutional validity in due course of time.

In his welcome remarks, Chairman Water and Solid Waste Management Committee of the PHD Chamber, Mr Gopal K Agarwal welcomed the declaration for proposed water framework with Senior Secretary, Dr Jatinder Singh who moderated the seminar endorsing his views.

Chamber Of Commerce Should Facilitate JVs: V K Singh

Minister of State for External Affairs, Mr. V K Singh on Saturday emphasized that the role of Chamber of Commerce such as PHD Chamber should be to facilitate joint venture arrangements with overseas countries.

Inaugurating the Ambassadors’ Meet under aegis of PHD Chamber of Commerce and Industry here today, Mr. Singh said that the Chamber of Commerce have been playing a great role to enable the government to expand its linkages and that PHD Chamber one such.

He said “such initiatives are being taken note of by the government and it appreciates initiatives like this.  The Ambassadors’ Meet is one such programme that PHD Chamber has been organizing with great skill for the last couple of years and the government appreciates it”.

The Minister appreciated the gesture of the PHD Chamber of Commerce and Industry, which donated wheel chairs, walkers and crutches to the government for the differently abled persons under its CSR initiatives.

Among others who participated on the occasion comprised President, Sr. Vice President, Vice President and Secretary General Mr. Mahesh Gupta, Mr. Gopal S Jiwarajka, Mr. Anil Khaitan and Mr. Saurabh Sanyal.

PHD Entertainment and Media Excellence Awards & Musical Evening

Siri Fort Auditorium witnessed a pulsating evening when PHD Chamber of Commerce & Industry organised a musical extravaganza called "GATA RAHE MERA DIL". The event, which is a regular feature on the cultural calendar of Delhi, saw Bollywood music stalwarts Bappi Lahiri, Usha Uthup, Anand Raj Anand , Babul Supriyo, Sona Mohapatra and budding stars like Palak Mucchal, Jubin Nautiyal & Bhoomi Trivedi crooning to popular numbers.  Bappi Lahiri’s Oo lala oo lala saw audience swaying to the retro music. Usha Uthup too made people dance when she rendered her all time favourite Hari om hari and O Darling. And what stole the heart of the audience was Sona Mohapatra’s song Ambarsariya from Fukrey. Anand Raj Anand sang few timeless classics like Main kahin kavi naa ban jaoon. Palak Muchhal’s Jumme ki raat hai, Jubin Nautiyal’s Zindagi kuchh to bata and Bhoomi Trivedi’s Ram chahe leela chahe were enough to audience asking for more and more.

But the real highlight of the evening came when Lifetime Achievement Award was conferred upon Dharmendra, the original he-man of Bollywood. He looked deeply moved by this gesture of PHD Chamber and was also seen engaging in some Shero-Shairi. The evening also witnessed rib-tickling comic performance by Raju Srivastava and distribution of PHD Excellence Awards (Entertainment & Media) to noted & worthy names from the field of media like Anjana Om Kashyap, Anshul , Richa Anirudh and Hanvir Malik.

The occasion was graced by the presence of Union Minister of State for Urban Development Babul Supriyo, who besides giving the Awards, also sang the title track Gata Rahe Mera Dil and Pal-pal dil ke paas.

Elaborating on the success of the event, Mukesh Gupta, Convenor of the program said that venue was jam-packed with many spectators standing all through the evening. He said that PHD is doing every possible bit to promote art, culture and music, and will continue to do so in future as well.

The PHD office bearers including Mahesh Gupta (President), Gopal Jivrajka (Sr. Vice President), Rakesh Gupta (Chairman) & Arshad Shawl (Co-Chairman )Media & Entertainment Committee, Saurabh Sanyal (Secretary General) and other noted business tycoons were also present on the occasion.

No doubts, the event will be etched in the memory of Delhiites for long.

KVIC IN FOR ENHANCING ITS MARKET SHARE TO 5% IN NEXT 2-3 YEARS, SAYS ITS CEO AT PHD CHAMBER STARTUPS SUMMIT-2016

Khadi & Village Industries Commission (KVIC) which currently handles a business turnover of about Rs.30,000 crores has set for itself a modest target of increasing its market share in KVIC promoted products from existing 1% to 5% in next 2-3 years, given their market demand in view of enhanced quality of KVIC products, according to its CEO, Mr. Arun Kumar Jha.

Addressing a Startup Summit-2016 under aegis of PHD Chamber of Commerce and Industry here today, Mr. Jha said, “the problem that the KVIC is presently grappling with is on supply side and not on demand factor and it one of the reasons that the KVIC has been concentrating on is its production facilities across the country through the help of all its supply chain agencies”. 

With demand of KVIC products on gradual increasing trajectory and the government’s supportive policies towards promotion of khadi products within and outside India, the Commission has set a target of hiking its market share to a level of 5% in next 2-3 years with its participation, involvement and partnership spirits with evolving disruptive innovations for the sector’s betterment, said Mr. Jha.

“KVIC which falls under the jurisdiction of Ministry of MSME is also at the advanced stage for finalizing incentives and sops for start-ups in the MSME segment to share their ideas and technological innovations so that this segment of the Indian economy transforms to the intended level as it is one of the backbones  of the Indian economy”, said Mr. Jha pointing out that the government is likely to notify these from April 2016.

The Startup Summit-2016 organized here by the PHD Chamber of Commerce and Industry had participation from evolving start-ups such as Mr. Paritosh Sharma, Head, Channel Partnerships, PayUMoney; Dr. Ajay Data, Founder & CEO, Datainfosys Ltd. & Chairman, Rajasthan Committee, PHD Chamber; Mr. Romesh Sharma, Founder CEO, SIMPLIFLYERS Solutions;  Mr. Ashu Agarwal, Director, BW Accelerate among others.

The Summit was chaired by Mr. Deepak Pahwa, Chairman, Innovation Committee, PHD Chamber in which the vote of thanks was delivered by Dr. Jatinder Singh, Sr. Secretary, PHD Chamber.

Focus on FDIs, Domestic Investments and Improve Exports need of hour for India to come out of Prevailing Economic Volatility, sayd Mr. Khan of RBI

Deputy Governor, Reserve Bank of India, Mr. H R Khan on Saturday prescribed a three pronged strategy for India to come out of prevailing economic volatility, uncertainty, ambiguity and complexity by laying its focus on attracting FDIs, domestic investments and improving on front of exports.

Declining to subscribe to the view that Indian economy is trapped in economic turmoil, the Deputy Governor said that economic turmoil was not the right expression to define the current economic stagnation, on the contrary the truth is India has been confronting with issues of economic volatility, uncertainty, ambiguity and complexity which her economy can come out of provided and additional attention is laid on to improving FDIs and domestic investment scenario with improved export focus on new and emerging markets.

Addressing a conference on Global Economic Turmoil – Impact on Indian Economy:Look Ahead under aegis of PHD Chamber of Commerce and Industry here today, Mr. Khan said that India’s tax GDP and her expenditure GDP ratio needed to be enhanced which has fallen less to a respective levels of 5.4% and 6.4% with comparable economies.

The Deputy Governor thus called for maintaining a quality of fiscal deficit with suitable and proper corporate balance sheet, pointing out that India also needs to clear up its stressed assets scenario with three main approaches in mind which consist of a paradigm to resolving, restructuring and recovering these.

He concurred with the view that in the recent past portfolio investments have receded but India compensated the loss by accelerated FDIs and with deepening of debt market for which the RBI has taken measures to make it more broad base with a celebrated manner.

Among others who were present on the occasion and prescribed suggestions for India to improve its current and prevailing economic volatility comprised Sr. Vice President, Vice President and immediate former President, PHD Chamber, Mr. Gopal S Jiwarajka, Mr. Anil Khaitan and Mr. Alok B. Shriram; Professor, Centre for Economic Studies and Planning School of Social Sciences, JNU, Dr. Praveen Jha; Consultant, NITI Aayog, Mr. B N Satpathy; Ex-Additional Solicitor General of India Mr. Bishwajit Bhattacharyya; Chairman, Forex Affairs Committee, PHD Chamber, Mr. Shyam Poddar; Co-Chairman, Banking and Financial Services Committee, PHD Chamber, Mr. Ashsish Agrawal and its Secretary General, Mr. Saurabh Sanyal.

Decline in IIP worrying: PHD Chamber of Commerce and Industry

Continuous decline in IIP for the third month in a row is worrying, said Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry in a press statement issued here today.

Decline in capital goods for the month of January 2016 is worrying as growth of capital goods is an indicative of investment activities in the economy, said Dr. Mahesh Gupta.

The IIP declined to (-) 1.5% in January 2016 from (-)1.2% in December 2015. Capital goods declined to (-)20.4% in January 2016 from (-)19.1% in December 2015 while the manufacturing growth stands at (-)2.8% in January 2016. Growth in consumer durables also declined substantially from 16.3% in December 2015 to 5.8% in January 2016.

However, significant announcements in the various segments of the economy would help to revive demand and help in industrial activity to come in momentum, said Dr. Mahesh Gupta.

DESPITE ODDS OF LAND ACQUISITION AND LAW & ORDER PROBLEM, BHEL CONTINUE TO EXECUTE ITS POWER PROJECTS, SAYS ITS DIRECTOR

Director – Industrial Systems & Products, BHEL, Mr. Amitabh Mathur on Friday alleged that the leading power equipment manufacturers and designers has been suffering a great deal to execute some of its projects on account of two factors namely the Land Acquisition and the law & order problem especially in north, central and eastern region.

“A case for example is the super critical projects in Karanpur and Navi Nagar in which the work is progressing with piecemeal speed as the company has so far succeeded in acquiring land for it in a patched manner and finding it difficult to remove hutments in such locations on which even residential colonies have come up”, said Mr. Mathur.

Addressing a National Conference on “Electrical Power Equipment Diagnostic-Integrating IT in Power T&D Efficiency” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Mathur pointed out that BHEL is engaged in the design, engineering, manufacturing, construction, testing, commissioning and servicing of a wide range of products, systems and services for the core sectors of the economy, namely power, transmission, industry, transportation, renewable energy, oil & gas and defence has been confronting with the aforesaid situation for quite some time on account of which its deliveries have been adversely effected.

Despite the government support and the help of the Union Power Ministry and other such organs, the company somehow was managing on these two fronts as it has been acquiring land in pieces and somehow making sure that the projects go on, pointed out Mr. Mathur adding that removing the hutments on project sites is a gigantic task.

Speaking on the occasion, Additional General Manager, NLDC, Power System Operation Corporation, Mr. P K Agarwal said that his corporation has begun to monitor grids operation with greater accuracy with the help of available IT tools with increased efficiency.

Providing the industry perspective on the occasion, Chairman, Energy Committee, PHD Chamber, Dr. Harish Ahuja felt that the government of the day has come out with several meaningful schemes to set right the financial mess arisen in various discoms with the UDAY schemes which in the opinion of the PHD Chamber would be a successful scheme as so far 15 states have agreed to go by the provisions of UDAY to make their electricity boards efficient and profitable in due course of time.

The conference was moderated by the Director, PHD Chamber,  Dr. Ranjeet Mehta.

SUPPORT GAAR IMPLEMENTATION AS SCHEDULED, REVENUE SECRETARY URGES INDIAN INDUSTRY AT PHD CHAMBER

Revenue Secretary, Dr. Hasmukh Adhia on Thursday appealed to the indigenous industry to support the government in its attempt to implement GAAR by 2017 and added stating that the Minimum Alternate Tax (MAT) rates’ cannot be brought down at this juncture as the government has already kept a sufficient space for corporates to enjoy sufficient tax exemptions in other forms.

“GAAR implementation by the government ought to happen as scheduled as foreign institutional investors and such other portfolios have been escaping capital gains in one form or the other, keeping the domestic industry at disadvantages and, therefore, it should come out openly in support of the government to implement it as scheduled”, said Dr. Adhia.

Delivering his address at a Post Budget Interactive Session – Implications of Union Budget 2016 under aegis of PHD Chamber of Commerce and Industry here today, Dr. Adhia sought the support of Indian industry to let the government put in place GAAR implementation by 2017 as the move is in its interest.

Referring to the issue of MAT, the Revenue Secretary held that its existing rates cannot be curtailed as industry is being provided with so many exemptions in other forms and the government has already done the balancing exercise in a planned and meticulous manner and, therefore, seeking to reduce the MAT ceiling would not be opportune at this juncture.

On the issue of corporate tax reduction as promised by the Union Finance Minister while presenting the Budget proposals of last fiscal, Dr. Adhia clarified that if the finance ministry curtailed general corporate tax by one per cent in budget proposals for 2016-17, it would mean a revenue loss of Rs.15,000 crore which the government at this juncture could not afford due to prevailing adverse global conditions on account of which our exports have consistently suffered in the last couple of months. 

However, the government has extended this benefit for new manufacturing units to avail of corporate tax facility at the rate of 25% from 2016-17, he pointed out adding that the budget for 2016-17 has been exclusively designed to generate domestic demand with large allocations for spending in rural economy, especially in its agricultural, irrigation, power and infrastructure sector since global economic landscape is not yet favourable to absorb exports from developing nation such as India.

In his welcome remarks, President, PHD Chamber, Dr. Mahesh Gupta reiterated the demand of the Chamber to reconsider the dividend distribution tax that has been brought in the budget of fiscal 2016-17 though the Revenue Secretary stayed put non-committal on this issue.

Among others who participated in the Session comprised Sr. Vice President, PHD Chamber Mr. Gopal Jiwarajka, its Chairmen, Direct and Indirect Taxes Committees, Mr. Anil K Chopra and Mr. Bimal Jain, lauding that the budget proposals would fuel domestic demands but some of its provisions on direct and indirect tax front need to be reset to cater to emerging needs of Indian industry. 

The Secretary General, PHD Chamber, Mr. Saurabh Sanyal moderated the session.

LPG FED FOUR WHEELERS WILL ALSO BE EXEMPTED IN FORTHCOMING ODD-EVEN DRIVE IN DELHI : SATYENDAR JAIN

MEDICINE DISTRIBUTION IN GOVT. HEALTH FACILITIES IN DELHI TO BE OUTSOURCED TO PRIVATE PARTIES

LPG fed and generated autos and four wheelers would be exempted from prohibition to ply on Delhi roads and lanes during the second phase of forthcoming odd-even drive, commencing from April 15, 2016, according to Minister of Public Work Department, Government of NCT of Delhi Mr. Satyendar Jain.

Addressing a Conference on “Need of Environmentally Sustainable Urban Transport System in India” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Jain also said, “it would be a firmer persuasive attempt of the Delhi government to make sure the capacity of car pooling is accelerated to nearly 50% in the second phase of the odd-even formula as against that of 30% capacity utilization of car pooling in its first phase”.

Responding to the suggestion mooted by the PHD Chamber during the conference for seeking to exempt LPG fed autos and other such smaller four wheelers during the second phase of odd-even drive since it is equally cleaner fuel on par with CNG, the Minister assured saying that the suggestion is well taken for its implementation.

“Pollution has become a serious menace to handle for authorities and ensuring cleaner fuel for transport sector is one of the top priorities of the government of the day in NCT of Delhi and it is in this background that the government would encourage electric vehicles for movement of masses including goods and commodities in course of time. In my view, electric vehicles would be the suitable mode of transport for the people of Delhi in next 4-5 years”, declared the Minister.

The Delhi government, according to the minister has identified 11 roads on which separate pavements would be created for pedestrians and link them suitably to metro stations to improve last mile connectivity to encourage walking and cycling on them.  This would be one measure that would reduce and tame the pollution also.

Mr. Jain made another disclosure stating that the health department of the NCT of Delhi has also decided to completely outsource distribution of medicines in all government hospitals owned by Delhi government including its health and community centre through a private placement, the cost of which is estimated between Rs.15-20 crores against the present dispensation of Rs.81 crore which is currently regulated by the government.

The minister slammed the bureaucracy and police and their increasing nexus with the politicians, admitting that the AAP government has not yet succeeded completely taming the two, hoping that in the remaining period of its tenure in power, it would melt bureaucracy and police to serve the people.

Among others who participated in the Conference comprised Sr. Vice President, PHD Chamber Mr. Gopal Jiwarajka, its Chairman, Roads, Ports & Other Infrastructure  Committee, Mr. Ashish Mohan Wig; Director General, Indian Auto LPG Coalition, Mr. Suyash Gupta; CEO, National Automotive Testing and R&D Infrastructure Project, Mr. Sanjay Bandopadhyaya; Secretary General, PHD Chamber, Mr. Saurabh Sanyal and its Director, Dr. Ranjeet Mehta.