Economic growth at 7.5 per cent in 2017-18 encouraging, States need to focus on their development models: PHD Chamber

While appreciating the balanced economic survey and reform measures, Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry said that despite the global headwinds, economy holds immense growth potential to grow more than 8 percent in the next couple of years.

It is inspiring to know from the Economic Survey 2016-17 that demonetisation has the potential to generate long-term benefits in terms of reduced corruption, greater digitalization of the economy, increased flows of financial savings, and greater formalization of the economy, all of which could eventually lead to higher GDP growth, better tax compliance and greater tax revenues, said Mr. Jiwarajka.

However, as the Economic Survey observes that despite growing rapidly on average, there are signs of growing inequality among the Indian States. I believe that best practices of the successful states would help the lagging states to recover and match with the socio-economic developments of the country, he said.

We appreciate the landmark reform related to overhauling of the bankruptcy laws so that the “exit” problem that pervades the Indian economy can be addressed effectively and expeditiously, said Mr. Jiwarajka.

We are proud of our economy as it is among the world’s fastest growing major economies, underpinned by a stable macro-economy with declining inflation and improving fiscal and external balances and enacting major structural reforms, he said.

However, on the international front, Brexit and the US regime change may herald a tectonic shift, forebodingly laden with darker possibilities for the global, and even the Indian economy for the short run. But, I believe that the Indian economy is resilient to face any global headwinds, going forward, he said.

As economic survey provides road map for the implementation of GST, it will create a common market in India, improve tax compliance and governance, boost investment and growth and indicate that the double digit growth trajectory is not far away, said Mr. Jiwarajka.

We appreciate Government initiatives to facilitate investment and ease of doing business in the country by introducing online application for Industrial License and Industrial Entrepreneur Memorandum through the eBiz website 24x7 for entrepreneurs, he added

Overall, state of the Indian economy is inspiring and we look forward to a dynamic budget announcement to pave way for strong and sustainable growth environment with a greater ease of doing business, said Mr. Gopal Jiwarajka.

JHARKHAND IS 31st THEME STATE IN 2017 SURAJKUND INTERNATIONAL CRAFTS MELA BEGINNING FROM 1ST OF FEBRUARY

For the first time in the history of Surajkund International Crafts Mela, Jharkhand has been chosen as a theme state, which begins on 1st of February at the sprawling Surajkund landscape.

With this, the newly carved out state will have plenty of opportunities to promote its art, culture, crafts, handloom and even its heritage not only within India but also beyond its boundaries, for the Surajkund Mela is known for its wider reach to visitors and participants in the two week’s affairs.

As the theme state,  Jharkhand will have wider scope to display and exhibit not only its culture including art as a whole but also avail of multiple opportunities to showcase its customs and traditions including festivals, dance, music, its special cuisine and even fine arts at multiple locations in and around Surajkund in the State of Haryana, said Tourism Secretary, Government of Jharkhand, Mr. Rahul Sharma while addressing media here today among other senior functionaries of the State of Haryana.  Director Tourism, Jharkhand, Mr. Waghmare Prasad Krishna was also present on the occasion.

The 15 days festivities commencing on 1st of February is being inaugurated by the Chief Minister of Haryana Mr. Manohar Lal Khattar in which host of its other cabinet ministers, including senior functionaries of state’s bureaucracy, a number of diplomats, high commissioners, cultural and economic counselors from various Embassies and High Commissions are likely to take part.

The inauguration ceremony will  have participation from Mr. Amar Kumar Bauri, Minister of Revenue, Registration & Land Reforms, Tourism, Art, Culture, Sports & Youth Affairs and Mr Rahul Sharma, Secretary Tourism  along with several other officials and functionaries of the from the State Government of Jharkhand .

In the 15 days mela, Jharkhand which is the 31st Theme State this year,  would be showcasing most of its heritage, cultural, arts, crafts, handicrafts, special cusine and the like.

Some of the festivals and fairs that are known as  strength of Jharkhand include Tusu Parab which is a harvest festival celebrated in the last day of month of Paush.  Karma is still another religious festival along with Sarhul and Baandhna. Some of the pilgrimage centres and  places that would be   highlighted during the mela  are the  Baidyanath Dham, Pahari Mandir,   Parasnath Temple etc. The entrance has been decorated as Maluti Temple, which would remain permanently and temporary gates would be based on themes like Chhou dance, Jharkhand's Itkhori tourist site, Dokra art and Rajarappa temple.

An 18-foot statue of Birsa Munda has been erected, beside the information centre set up at Suraj Kund is based on Audrey House, which houses the Information and Public Relations Department of State Government, heritage sites such as Anjan Dham and Hazirabagh Group of Monuments would also be promoted with the culture of Jharkhand like Chhou Dance, Paika and the like.

Within these two weeks of the Surajkund Mela, each day a carnival  would go along the landscape of the sites promoting and propagating multiple diversities and complexities of the state which would be sign of attention.  During the mela, an ethnic fashion show is also being organized on 11th of February in which leading fashion designers choreographer and models will display the cultural strength of the State.

The Mela will come to an end on 15th of February 2017 with closing ceremony in which the Governor of Jharkhand and Haryana and senior functionaries of tourism and other related ministries are likely to participate in full swing.

The PHD Chamber of Commerce and Industry  is facilitating the Government of Jharkhand through the Administration of Haryana Tourism to provide visibility to  the State of Jharkhand  effectively in the mela with all its products, art , culture, cuisine, artisans  and artists, performers at the carnival and cultural programs and services  in an effective manner.

Chief Minister Haryana inaugurates Surajkund International Crafts Mela Surajkund (Faridabad), February 1, 2017

Shri Manohar Lal, Chief Minister, Haryana today formally inaugurated the 31^st Surajkund International Crafts Mela-2017 at Surajkund, Faridabad in the august presence of Shri Ram Bilas Sharma, Tourism, Hospitality, Education, & Languages, Technical Education, Archeology & Museums Minister, Haryana; Shri Amar Kumar Bauri, Hon’ble Tourism, Culture, Art, Sports, Youth Affairs, Revenue & Land Reforms Minister, Govt. of Jharkhand; His Excellency Hatem Tageldin, Ambassador of Egypt to India, Delhi.  Shri Krishan Pal, Minister of State for Social Justice & Empowerment, Government of India; Sh. Shri Vipul Goel, Industries Minister, Haryana; Smt. Seema Trikha, Chief Parliamentary Secretary, Tourism & Hospitality, Haryana;  Shri Jagdish Chopra, Chairman, Haryana Tourism Corp., Shri Mool Chand Sharma, MLA, Ballabhgarh and other distinguished dignitaries also graced the occasion.

A traditional welcome was extended to the Chief Minister, Haryana by Surajkund Mela Authority & Haryana Tourism, Theme State Jharkhand & Partner Nation Egypt on reaching Dhanteshwari Gate. Shri Manohar Lal took a round of the Theme State Jharkhand’s Apna Ghar, Information Pavilion, Craftshuts and interacted with the participants, craftspersons and weavers. He then visited the international area where Partner Nation Egypt had constructed the pavillion reminiscent of Egyptian Culture. The Chief Guest also visited Apna Ghar of Haryana where Surajkund Mela Authority & Haryana Tourism has beautifully displayed Haryana’s achievements on its Swarna Jayanti year and also showcased rural living traditions of villages in far flung areas of Haryana. Lastly, Chief Minister, Haryana headed towards the Chaupal and did the honours of lighting the lamp.

Shri V S Kundu, Addl Chief Secretary to Government of Haryana, Tourism Department & Vice Chairman, Surajkund Mela Authority extended a hearty welcome to Chief Minister, Haryana and expressed gratitude towards all the present dignitaries for being a part of the Mela. Shri Kundu stated that the Government of India initiatives like Cashless transactions, Digital India, Beti Bachhao Beti Padhao and Swatch Bharat are being followed in principle in the Mela. Mela tickets are available online through BookMyShow, free shuttle service is available to the Mela from places in the vicinity and more public conveniences have also been added.  He further informed that this time, the almost three acres of area has been added and thus 145 additional workhuts have been constructed for artisans and weavers in order to organize Mela at a grand scale on Swarna Jayanti Year of the state.

Sh Vinod Zutshi, Secretary, Tourism, Government of India stated that Surajkund International Crafts Mela has given impetus to tourism sector in totality. Sh Zutshi further stated that Egypt’s association with the Mela gels with the agreements that India has signed with number of foreign countries on increasing exchange of visitors.    He also complimented the efforts of the state of Haryana to boost its tourism sector by identifying the Krishna circuit and reviving sacred river Saraswati besides organizing such a Mela of International Standard for uplifting the repute. He further said that Surajkund Mela is not only Haryana’s pride but also an honour for the country. At the same time, he hoped that problems that lurk India like terrorism could be wiped out so that tourism sector could thrive.

Shri Ram Bilas Sharma, Tourism Minister, Haryana stated that the participation from more than 20 countries in the 31^st edition of Surajkund International Crafts Mela signifies the growing importance of this Mela that offers an ideal platform for the hardworking clan of craftspersons. Sh Sharma further added that among the popular measures taken to further popularize the Mela included free entry for girl students of government and government-aided colleges and schools, also Mela express buses from Satnali to Surajkund and buses from nearby Metro stations to Mela grounds had been started.

Shri Amar Kumar Bauri, Tourism Minister Jharkhand expressed his gratitude towards Ministry of Tourism, Surajkund Mela Authority & Haryana Tourism for offering this opportunity to Jharkhand for being Theme State. He informed that Jharkhand has tried to showcase all its regions equally. Maluti Temple situated in Santhal Pergana Region got prominence as Commemorative structures of the state due to its social connect with the people of Jharkhand.

His Excellency, Hatem Tageldin the Ambassador of Egypt to India thanked Surajkund Mela Authority for providing the opportunity to Egypt to be the Partner Nation. His Excellency showed his gratitude towards Smt Sushma Swaraj, Hon’ble External Affairs Minister of India & Shri Narendra Modi, Hon’ble Prime Minister of India for extending their full cooperation to Egypt on all bilateral issues. His Excellency further said that this participation would further cement the ties between two nations.

Shri Manohar Lal, Chief Minister, Haryana announced the Surajkund International Crafts Mela officially open. Chief Minister stated that the Surajkund International Crafts Mela infuses new energy among everyone and it is a collective effort of different central Government Ministries of Textile, Tourism, Culture & External Affairs due to which the Mela has achieved international fame. He showered praise on the Haryana Tourism, Surajkund Mela Authority, Ministry of Tourism GOI, Jharkhand State & Egypt for working tirelessly for success of this Mela. He further showed his satisfaction on the initiatives taken by all the organizers to take Surajkund Mela to the next level on Haryana’s Swarna Jayanti Year. He complimented the participants from Egypt, Jharkhand and other participating states, Nations for coming to the ‘Paavan Dhara’ of Haryana which is known as ‘Krishan Bhumi’.

Chief Minister Haryana further stated that Aravali hills have tourist potential. The concept of Eco-tourism is also being promoted amongst foreign investors.

         

The inauguration ceremony of the Mela also witnessed enthralling performances being presented by dancers from Haryana, Jharkhand and Egypt.

The Cashless Mela will remain open to public from 10.30-8.30 daily from 1-15 February, 2017.

Curtains go up on the 31st Surajkund International Crafts Mela

Addressing a galaxy of mediapersons at the Chaupal, Surajkund Mela Ground, Faridabad, Shri Vinod Zutshi, Secretary, Ministry of Tourism, Government of India and
Chairman, Surajkund Mela Authority stated that the 31^st Surajkund International Crafts Mela-2017 will be inaugurated by Shri Manohar Lal, Hon’ble Chief Minister, Haryana on 1^st February, 2017 at 11.30 pm in the august presence of Shri Ram Bilas Sharma, Tourism, Hospitality, Education, & Languages, Technical Education, Archeology & Museums Minister, Haryana; Shri Amar Kumar Bauri, Hon’ble Tourism, Culture, Art, Sports, Youth Affairs, Revenue & Land Reforms Minister, Govt. of Jharkhand; His Excellency Hatem Tageldin, Ambassador of Egypt to India, Delhi.  Shri Krishan Pal, Minister of State for Social Justice & Empowerment, Government of India; Sh. Shri Vipul Goel, Industries Minister, Haryana; Smt. Seema Trikha, Chief Parliamentary Secretary, Tourism & Hospitality, Haryana;  Shri Jagdish Chopra, Chairman, Haryana Tourism Corp., Shri Mool Chand Sharma, MLA, Ballabhgarh and other distinguished dignitaries will also grace the occasion.

The Surajkund Crafts Mela was hosted for the first time in 1987 to showcase richness and diversity of the handicrafts, handlooms and the cultural heritage of India. Jointly hosted by the Surajkund Mela Authority and Haryana Tourism in collaboration with the Union Ministries of Tourism, Textiles, Culture, External Affairs and Government of Haryana, this festival has come to occupy a place of pride and prominence on the international tourism calendar for its display of crafts, culture & cuisine of India in aesthetically created ambience.

Shri V S Kundu,Addl. Chief Secretary, Tourism, Government of Haryana and Vice Chairman, Surajkund Mela Authority stated that besides attracting over a million visitors each year, the Mela has also helped in reviving the heritage crafts of India. This year, many new initiatives have been introduced like ‘BookMyShow’ offering online tickets for Mela,

making Mela tickets available at Delhi Metro stations, special buses to Surajkund from different places, free ferry service from the surrounding areas to the fair site and more public conveniences. Shri Kundu further added that they diligently took up the matter with the Archaeological Survey of India to keep the Sunpool, an ancient monument, from which Surajkund derives its name, nice and tidy for the visitors to the Mela.

A benchmark was set in the history of Surajkund Crafts Mela as it was upgraded to an international level in 2013. This year, more than 20 countries from Europe, Africa and South Asia are participating in the Mela; Zimbabwe, Tanzania, Tunisia, Mongolia, South Africa being the first timers.

Sh Sameer Pal Srow, Managing Director, Haryana Tourism Corporation and Chief Administrator, Surajkund Mela Authority stated that this year lot of enthusiasm is shown by the participants of   foreign countries, which include participants from Partner Nation—Egypt. There will be enthusiastic participation from Sri Lanka, Nepal, Afghanistan, Thailand, Kyrgyzstan, Lebanon and Tunisia.

Jharkhand is ‘Theme State’ of this year’s Surajkund International Crafts Mela, which is showcasing its unique culture and rich heritage in an impressive manner. Jharkhand has constructed a permanent commemorative structure; Maluti Temple Gate situated in Santhal Pergana Region in the Mela near main Chaupal. Besides this, there are five temporary gates displaying the state symbols of Jharkhand. About 300 artistes from Jharkhand will be performing famous folk arts like Chhau, khaira, karsa, Paika.

To enliven the visitors’ mood, scintillating performances will be presented by international folk artists from Egypt, Tanzania, Zimbabwe, Seychelles, Tajikistan and   Kyrgyzstan. A variety of dance forms during Day Performances will be staged by folk artistes of North Zone Cultural Centre and other Zonal Cultural Centres, like Haryanavi Dances,  Bhagra & Gidda by Punjab Police Group, Badhai from MP, Brij ki Holi & Mayur dance from UP, Rathwa from Gujarat, Chapeni from Uttrakhand, Paika of Jharkhand to name a few, at the open-air theatre, ‘Chaupal’, in the Mela ground.

Enthralling evening cultural performances during the Mela fortnight will entertain the visitors to the hilt. Enjoy rib-tickling Hasya Kavi Sammelan by renowned poets, resonating sarod recital by Aayaan khan & Armaan Khan, Vibrant dances of Jharkhand, International medley by participating nations, Sufiana Kalam by Noora Sisters, Indian Classical performance by Padamshree Ranjana Gohar, Punjabi Singer Mohd Irshad, mesmerizing Haryana Swarna Jayanti celebrations by Mahabir Guddu & Harvinder Rana, and soulful performance of Vidya Shah besides adrenaline-rushing dance & song shows of Telangana. Catch all this at the Chaupal from 6.00 pm onwards every evening.

        The Mela ground is spread over 40.5 acres of land and houses about 1010 work huts for craftspersons and a multi-cuisine Food Court consisting of 36 Food Stalls, which is immensely popular amongst visitors. This year, visitors can relish mouth-watering cuisines including authentic flavours of Theme State Jharkhand, Lebanon, Haryana, Punjab, sumptuous Mughlai, subtle aromas of the South and oriental flavours of Chinese along with Indian street food and other state specialities at the Food Court. Also, state-owned Institutes of Hotel Management of Faridabad and Panipat would dish out various ethnic delicacies of Haryana in particular.

        A family each from Haryana and Jharkhand are going to live in specially-created ‘Apna Ghar’ to showcase the typical lifestyle of their states.  To mark Haryana Swarna Jayanti celebrations ‘Apna Ghar’ of Haryana also displays most popular sports of the state such as boxing and wrestling. To promote women empowerment, the ‘Beti Bachao Beti Padhao’ campaign will also be showcased in the Apna Ghar with women in different roles- distinguished women achievers in sports, boxer, milkmaid & homemaker.

Surajkund Mela Authority & Haryana Tourism have commissioned consultants Moinish Garga of  Z Axis Design Consultants Noida to lend the Mela grounds a special ambience to showcase the vibrancy and charm of rural India and expressing gratitude to Mother Nature. Flowers and butterflies, splendid sun and sunflowers, cloudy sky & rain and similarly trees in fall colours made the entire Mela area vibrant & alive. Each zone also carries a colour code — Green, blue, orange, red & white in the form of designer buntings showcasing Haryana Swarna Jayanti Celebrations on the trees and workhuts.

       Both Chaupals (amphitheatres) have been imparted a folk theatre look with pillars adorned with masks and decorative ceilings. The Food Court has been highlighted with the cut outs of various seasonal fruits. Interestingly, ethnic, traditional &sustainable material has been brought into use to design elements such as bamboo for gates & pole lights; cane & metal tokris as diyas and standing lights, fabric for buntings, kites and other props.

The Mela is open from February 1-15, 2017, daily from 10.30 am-8.30 pm.

MOU signed between Dubai Exports and PHD Chamber of Commerce at the on-going Dubai Exports Seminar

Delhi, 30th January 2017: Monday morning witnessed the presence of several important businessmen at Dubai Exports Seminar held at The Leela Palace in Delhi. This seminar was organized to empower and diversify Dubai's economic growth by offering pioneering export related services to the business class.

Dubai Exports strives to ensure the success of the exports sector in Dubai and the UAE, by providing constant guidance, advice and practical support to both overseas buyers and suppliers. Dubai Exports develop long-term growth strategies to help businesses expand and maximize their opportunities given by Dubai’s unique position as a natural trade gateway between the East and the West.  It is an exciting time for exporters in the UAE and Dubai Exports provides you with constant support to make businesses both prosperous and globally competitive.

Mohammed Ali Kamali, Deputy CEO, Dubai Exports gave the welcome speech which was followed by Mohammad Ali Lootah, CEO, Commercial Complainants & Consumer Protection at Department of Economic Development, Government of Dubai. The UAE Ambassador, H.E. Dr. Ahmed Al Bannawas present at the seminar as well.

Shri. Avinash Kumar Srivastava, Secretary, Ministry of Food Processing Industries, Govt. of India, Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce & Industry and Mr. Sanyal, Secretary General PHD Chamber of Commerce & Industry were present to share their views on the growing business relationship between India and Dubai.

An important MOU was signed between PHD Chamber of Commerce & Industry &Dubai Exports.

Objective of the today’s MOU signing ceremony between PHD Chamber & Dubai Exports, the export promotion agency of the Department of Economic Development (DED), Govt. Of Dubai is to familiarize the Industry on the bilateral trade opportunities and to explore ways to develop the strategic relations between UAE and India into stronger commercial engagements said by Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce & Industry.

This will also create an outlook towards learning about the demand situation across various sectors and ways of doing business in both the countries. We look forward to this engagement as a key initiative to develop trade and provide Indian Businesses to expand and tap into the middle east markets while also leveraging Dubai as a corridor for international trade.

Mr. Sanyal, Secretary General PHD Chamber of Commerce & Industry appreciated the effort of Dubai Export and wishes to work towards increasing the bilateral trade between India and UAE.

Mohammed Ali Lootah, CEO of CCP,  Dr. Ashraf Ali Mahate, Economist and Financial Expert, Department of Economic Development, Government of Dubai delivered key seminars at the meet. Ahmed Nagi launched Consumer Compliance Policy which was followed by a Panel Discussion. Amit Lohani, Convenor – Forum of Indian Food Importers (FIFI) also held a key seminar. Rakesh Gambhir, Head - Dubai Exports India Office presented his vote of thanks.

GST TO TRANSFORM WAREHOUSING & LOGISTICS : AS&FA, DEPARTMENT OF CONSUMER AFFAIRS

Even though the GST rates are yet to be finalized by GST Council, Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution is quite optimistic that with its advent, the warehousing sector will see its transformation to a next level as the GST regime would have preferential treatment towards warehousing in view of its critical significance, according to its Additional Secretary & Financial Advisor, Mr. Nikhlesh Jha.

“Not only the GST regime will streamline the prevailing inadequacies in logistics in general but also address host of issues relating to transportation and warehousing in terms of their indirect taxation and therefore, the Ministry of Consumer Affairs is confident that GST as and when implemented will reshape the warehousing in particular”, felt Mr. Jha.

Addressing a National Conference on “Grwoth Enablers of Warehousing in India: Roadmap to Meet Future Challenges” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Jha also exuded confidence that the finance ministry in its forthcoming budgetary exercise would have considerate treatment and allocations for warehousing sector although its food budget constitute significantly higher allocations to implement various social schemes of the government.

Without revealing concrete measures as to how GST would come to the rescue of warehousing sector, Mr. Jha pointed out that given its criticalities, the GST regime would be pro-actively supportive to logistics and warehousing although the GST Council has yet to evolve the new rates.

Speaking on the occasion, Managing Director, Central Warehousing Corporation, Mr. Harpreet Singh also endorsed the views expressed by Mr. Jha on GST’s impact on logistics and warehousing and added that the government would create warehousing, cold storage with modern approach across the country with more focus on hilly states such as Uttarakhand, Himachal Pradesh, Jammu & Kashmir and the entire northern eastern belt to make sure that not only agri production is safely stored but also substantially reduce the wastage on fruits and vegetables including flori culture.

According to him, even with existing warehousing facilities, the agri produce loss is not much but what is startling is the loss of fruits and vegetables which as per current estimates are pegged at Rs.44,000 crores which needs to be drastically brought down with modern cold chain facilities.

Among others who participated in the conference consisted of Co-Chairman, Committee on Logistics Management, PHD Chamber, Mr. Bharat Joshi and its Director, Dr. Ranjeet Mehta, emphasizing the need for better logistics facilities to drastically reduce the transaction cost which in India’s case is estimated at 14.4% as compared to 8% of the cost that prevails in the economies of scale.

IWAI TO RAISE GOVT. SERVICED BONDS OF Rs.1,000 CRORE IN FEB-MARCH 2017 TO PARTLY FUND WATERWAYS EXPANSION IT EXPECTS Rs.4,000 CRORE BUDGETARY ALLOCATION IN 2017-18 FOR THE SAME: AMITABH VERMA

Inland Waterways Authority of India (IWAI) will raise Rs.1,000 crore from market in the month of February and March 2017 in two parts with Rs.500 crore each to part fund the expansion of India’s inland waterways through government serviced bonds, disclosed its Chairman, Mr. Amitabh Verma.

In addition, the Authority is anticipating a budgetary support as well extra budgetary allocations of about Rs.4,000 crore for the aforesaid purpose in the forthcoming budget for fiscal 2017-18, added Mr. Verma.

Inaugurating a National Maritime Conclave 2017 under aegis of PHD Chamber of Commerce and Industry here today, Mr. Verma explained that IWAI has planned to roll out Rs.500 crore worth of bonds after budget proposals for next fiscal are announced and that the forthcoming monetary policy is pronounced by RBI on February 7, 2017.

The second portion of it of remaining Rs.500 crore would be raised subsequently in March, clarified, Mr. Verma, emphasizing that the bonds be totally government serviced so that there is commitment of the government on these and that their subscribers have no doubts on their counter guarantees.  The Authority has triple AAA ratings for issuance of these bonds from leading rating agency CRISIL.

In addition, the Chairman, IWAI also said that it was expecting a budgetary support and extra budgetary allocations for development of waterways across the country to the tune of close to Rs.4,000 crore in fiscal 2017-18 as he has received indications to this effect from its administrative Ministry.

Giving the breakup of Rs.4,000 crore of budgetary support and extra budgetary allocations, Mr. Verma pointed out that Rs.2,500 crore could come to IWAI by the government introducing an amendment to Central Road Fund Act latest by Monsoon Session if not in Budget Session.

“The amendment would make a way for the government to apportion 5% of money out of highways and roads funds away to IWAI to enable it raise additional resources to undertake its waterways development which approximately works out to be Rs.2,500 crore in fiscal 2017-18 alone”, said Mr. Verma exuding an optimism that the budget for 2017-18 could also have a provision of Rs.1,000 to Rs.1,500 crore of money in terms of extra budgetary allocations.

He also informed that the IWAI is developing 111 waterways across the country, development for eight of them would be taken up in the current year and 12 each in subsequent two years and the process would go on thereafter.

The President, PHD Chamber, Mr. Gopal Jiwarajka in his welcome remarks said that waterways development should be one of the top priorities of the government because it makes an economic sense with sufficiently addressing the issues relating to environment and pollution.

Among others who spoke on the occasion comprised Senior Vice President, PHD Chamber, Mr. Anil Khaitan its Chairman-Roads, Ports & Other Infrastructure Committee, Mr. Ashish Mohan Wig along with Chamber’s Director, Dr. Ranjeet Mehta.

Restrict Corporate tax at 25% from 2017-18, PHD Chamber to FM

PHD Chamber of Commerce and Industry has urged the Union Finance Minister to restrict corporate tax at 25% with cesses and surcharges and increase the rebate on interest paid on housing loan by 1.5 lakh from fiscal 2017-18 with a special provision in the forthcoming Budget through which lending to MSMEs by NBFCs could be brought in priority sector.

Submitting the Budget proposals of the PHD Chamber to the Union Finance Minister, Mr. Arun Jaitley, its President, Mr. Gopal Jiwarajka demanded that corporate tax rate should not be more than 25% from the headline rate of 30% and 34.6% with cesses and surcharges.

While appreciating the incentives given on promoting cash less transaction, Mr. Jiwarajka suggested more digitilazation of transaction such as RTGS and NEFT should also be free of transaction costs.  As GST is going to become reality soon, we suggest that peak rate should be moderated to be level of 20%.  The show cause notice should also be retained at 18 months instead of 36 months.  Anti profiteering clause should also be removed from GST, said Mr. Jiwarajka.

The Chamber also argued that time has come to increase the rebate on interest paid on housing loan from the current level of Rs.2 lakh to Rs.3.5 lakh as it would boost demand in the real estate and construction as also spur up economic sentiments with positive multipliers.  It also emphasized the need for Stressed Assets Fund to be opened through escrow accounts to complete all pending housing projects so that commitments made to buyers are fulfilled.

Mr. Gopal Jiwarajka appraised the Finance Minister that MSMEs which are the backbone of Indian economy with their massive contribution into it should be accorded with a facility as per which their borrowings from NBFCs could be treated under the window of priority sector lending.  A Budgetary provision to this effect would be of great necessity as most of the businesses in this segment are credit starved.

Referring to GST, the Chamber’s President exuded confidence that with it becoming reality by July 2017, the indirect taxation would be rationalized to a large extent but urged the government that its peak rate should be moderated to the level of 20%.

The Chamber has also demanded that banks should also be allowed to provide funding for domestic mergers and acquisitions and effective transmission of the monetary policy is required so that the benefits of rate cuts are percolated towards beneficiaries.

Mr. Jiwarajka and his team complimented the Union Finance Minister, widely appreciating the demonetization decision of the NDA government, describing it as the most revolutionary economic reform which will turn around the economy and move it to less cash transactions.

Sr. Vice President, Mr. Anil Khaitan and Vice President, Mr. Rajeev Talwar including immediate former President Dr. Mahesh Gupta of the Chamber accompanied Mr. Jiwarajka while the budget proposals of the Chamber were submitted to Mr. Jaitley.

Political Commitment with Institutional Mechanism & sense of Ownership can deliver healthcare at doorstep through use of Technology: PHD

National Conference on Technology & Innovations in Healthcare Delivery held here today under aegis of PHD Chamber of Commerce and Industry strongly felt that with “political commitment coupled with institutional mechanism and a sense of ownership” could only make technology deliver the desired results to improving mass healthcare at doorsteps.

It was also felt that the “intent to appropriate the technologies by medical professionals and other associates attached with them incase if missing, the medical facilities and their dispensation to public at large will remain a goal unfulfilled”.

Therefore, it is mandatory that the spirit of quick absorptions of technological applications are necessary in healthcare sector and all its professionals to take medical care to end consumers, was another view that surfaced in the National Conference on Technology & Innovations in Healthcare Delivery held here today.

Speaking on the occasion, Mission Director, Delhi State Health Mission, Ministry of Health and Family Welfare, Dr. Tarun Seem emphasized that ‘Mohalla Clinics’ and other decongestant measures that have been initiated in Delhi hospitals by the Government of Delhi with technological applications are successful because of political commitment.

In addition to political commitment, the Delhi Government has been able to deliver basic and primary health to its public and masses because of suitable institutional mechanism in place as also sense of ownership as these factors put together provide for grace and pride with people involved in deliveries of healthcare with upgraded technological applications.

CEO Incharge, National Accreditation Board for Hospitals & Healthcare Providers (NABH), Dr. B K Rana in his observations felt that compliance to healthcare standards as evolved by NABH have begun to be adhered to since 2006 though hospitals need much more improvement on compliance.

Among others who spoke on the occasion comprised Scientist ‘G’ Department of Scientific & Industrial Research, Department of Science & Technology, Government of India, Mr. Ashwani Gupta; Senior Vice President, PHD Chamber, Mr. Anil Khaitan and its Sr. Secretary, Dr. Jatinder Singh.

‘Performance, Employment, Growth & Development’will be Election Issue for BJP in 2019 poll, says its General Secretary

General Secretary, BJP, Mr. Murli Dhar Rao on Wednesday assured India Inc. that time has come for all political parties not to operate on duals accounts, expecting industry to have one for transparency and benign taxation.

He also emphasized that his party’s election issue for 2019 parliamentary poll could be ‘performance, employment including growth and development’ clarifying that the main issue with which it will go on electioneering mode will depend on the pressing issues of the prevailing time.

Addressing a Seminar on “Achieving Industrial Goals – Through Integral Humanism” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Rao also announced that the BJP and the government led by it would promote entrepreneurship by all means with benign tax regime.

“Production, Productivity & Efficiency though the government of the day would promote and encourage with benevolent industrial and economic activities but in the Parliament poll of 2019, the pressing issues for electioneering could be performance, employment, growth and development”, he said.

Elaborating on the issue of dual accounts with which political parties have been operating on for years, Mr. Rao asserted that time has come when transparency in politics would have to come through a single account as the government cannot expect the industry to be cleaned and neat with one account.

The two would have to coexist for increasing spirit of entrepreneurship within indigenous industry and that to on Indian model as the imported models of entrepreneurship would not work in India, felt Mr. Rao.

Former MP & Chairman, Rajasthan State Industrial Development Corporation, Mr. Mahesh Sharma in his address sought that wealth creation by industry should be for altruistic purposes and the capital that it creates should stay with it for such objectives only.

President, PHD Chamber, Mr. Gopal Jiwarajka emphasized that the government of the day should be receptive to needs of industry so that growth is generated with employment.

Chairman, IR & HR Committee, PHD Chamber, Mr. Ravi Wig asked the BJP to depute some of its think tanks to interact with Indian industry to consider some of its justified and legitimate issues that India Inc. has been confronting with at least once in two months.

Among others who spoke on the occasion consisted of Sr. Vice President, PHD Chamber, Mr. Anil Khaitan; its former Presidents Dr. Raghupati Singhania and Mr. Alok B. Shriram and Co-Chairman of IR & HR Committee, PHD Chamber, Mr. Bharat S Mehta.

PHD Chamber welcomes end of logjam in GST implementation

While appreciating the efforts undertaken by the Hon’ble Finance Minister and empowered GST Council, Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry said that the end of logjam in GST implementation will boost not only the sentiments of businesses but also benefit people at large.

Industry will get a boost with the removal of cascading impact of taxation and improvement in ease of doing business, said Mr. Jiwarajka

GST will enhance production possibilities, attract FDIs and increase employment opportunities in the economy, he added.

GST will roll out from July 1 2017. The success of the Centre and the states to work out a formula for distribution of power between them to assess taxpayers is encouraging, said Mr. Jiwarajka

GST council has decided to split assessees above a turnover of Rs 1.5 crore in the ratio of 50:50 between the Centre and the states, he added.

The turnover of Rs 1.5 crore or less, 90 per cent of the assessees will be assessed by the states and 10 per cent by the Centre, said Mr. Jiwarajka.

GST implementation would be a major game changer for the economy for accelerating the economic growth, he said.

Going ahead, we hope that every citizen of the country is well aware of GST before its implementation, added Mr. Jiwarajka.

Water likely to be driven out from ‘State List’ into Concurrent list : Joint Secretary, Ministry of Water Resources

Ministry of Water Resources, River Development and Ganga Rejuvenation has begun an exercise to bring in ‘water’ into the ‘concurrent list’ to better manage and regulate India’s water management and there is a political consensus on the matter, according to its Joint Secretary, Mr. Sanjay Kundu.

Addressing a Conference on Water Pollution and Waste Water Treatment under aegis of PHD Chamber of Commerce and Industry here today, the Joint Secretary also disclosed that the Centre has also commenced a process to bring in an exclusive ‘Waste Water Management Policy’ to manage country’s ground water situation which is already reached an alarming level.

“Lot of Parliamentarians and senior level polity have jointly voiced their serious desire and willingness both within and outside Parliament for putting in water into the concurrent list in view of multiple un-resolvable water disputes arising across the country including that of Cauvery dispute.  It is in view of this that the government is contemplating to do the needful so that the scarce water resources are managed well for drinking and other such purposes”, said Mr. Kundu.

He, however, did not specify the time limit to accomplish the intended job barring emphasizing that the Ministry of Water Resources has begun to work on it in consultation with other relevant stakeholders.

On the waste water management policy, Mr. Kundu said that work on it is progressing and not only this legislation would be introduced in the Parliament shortly but also the government of the day would make amendments in five Acts relating to water for which the Ministry has Cabinet approval and include Inter-State Water Dispute Act, National Water Framework Law, Model Ground Water Act and River Basin Management Act.

Earlier speaking on the occasion Additional Secretary & Director General, National Mission for Clean Ganga, Ministry of Water Resources, River Development and Ganga Rejuvenation, Mr. U P Singh also emphasized the need to reform India’s water sector, pointing out that reforms though have touched many a sector, its time now that India’s water properties go in for similar initiative.

Chairman, Central Water Commission, Mr. G S Jha in his observations laid emphasis on mapping the ground resources of water for their better utilization and water dispensation.

Among others who participated in the Conference consisted of Senior, Vice President, PHD Chamber, Mr. Anil Khaitan; Chairman, Water & Solid Waste Management Committee, PHD Chamber, Mr. Varun Gupta and Director, PHD Chamber, Dr. Ranjeet Mehta.

IIP growth at 5.7% in November 2016 inspiring: PHD Chamber

IIP growth rate at 5.7% in the month of November 2016 is inspiring and we look forward to the continuation of the momentum in the coming months too, said Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

Despite the process of demonetization, growth at 9.8% in the durable consumer goods segment is encouraging. The growth in manufacturing sector at 5.5% is an indicative of steady industrial activity and reflecting the visible effect of various reform measures undertaken by the Government, said Mr. Jiwarajka.

Growth in capital goods at 15% envisages the uptick in investment activity and we can expect the investment regime to pick up in the coming months too, he said

The continuation of the reform measures would pave the way for a significant rebound in the industrial activity and overall growth of the economy, said Mr. Gopal Jiwarajka.

PHD Chamber organizing India business partnership summit at Bahrain on 7th February 2017

PHD Chamber of Commerce and Industry is mounting a high level business delegation away to Bahrain to organize a “India Business Partnership Summit” slated for 7th of February, the basic objective of which is to further cement the trade and economic ties between India and Bahrain in the emerging business scenario.

The Summit is coinciding  with two-days Gulf Industry Fair between 7th & 9th February, which is scheduled to be inaugurated by Prince Khalifa Bin Salman Al Khalifa, Prime Minister of Kingdom of Bahrain.

The delegation to be led by Senior Vice President of the PHD Chamber, Mr. Anil Khaitan will have representation of around 25 to 30 Indian companies, having diverse business interests with multiple products and services is likely to have intense and protected discussions and parleys with their counterparts at India Business Partnership Summit, said Mr. Khaitan in a press statement issued here.

Some of the key business sectors that would have representation in the delegation, consists of sectors such as energy including solar, real estate, financial services, venture capital funds, logistics, ports and maritime, startups, aluminium, manufacturing, industrial metals (steel and alloys) and academic and research bodies.

Chairman, Housing and Urban Development Committee, PHD Chamber, Mr. Manish Aggarwal would be the deputy leader of the delegation, however, pointed out that the real estate and construction sector which is growing leaps and bound in India particularly with emphasis on ‘Housing for All’ could attract partnership from Bahrain for smart cities in India.

Mr. Khaitan further emphasized that it is for the first time that such a diverse business delegation is being mounted by the PHD Chamber to a country, with which variety of business and economic relations could be carved out for mutual gains as also spur up two-way economic and bilateral trade, the potential of which is so large as to be realized sooner than anticipated.

The Chamber holds that this unique summit which is happening for the first time also aims to combine the strengths of Bahrain and GCC countries with the vibrancy & scale of India to discuss new ways of cooperation between Industries and to further build partnerships for mutual business cooperation.

India and Bahrain enjoy excellent bilateral relations characterized by cordial political, economic and cultural contacts. The upward trend demonstrated in the latest trade figures surpassed one billion US dollars. The recent resurgence in trade volume, interestingly, is based on non-oil sector. Financial services, real estate, plastics, and automotive components are major contributors to the current uptrend. Key initiatives such as opening doors to FDI, 100 Smart Cities, Make in India, Digital India, Oil & Gas sectors are critical to boost India’s efforts to revitalize the economy. These initiatives have generated much interest from Bahrain companies seeking opportunities in India & Indian companies exploring partnerships with Bahrain companies.

Tendering for 2,300 MW of Solar Energy in offing with emphasis for domestic content in it : Solar Energy Corporation of India

Solar Energy Corporation of India has signed Power Purchase Agreements (PPAs) with various stakeholders to an extent of 3,200 mw of solar power and would shortly finalize and float tenders for putting up of solar power projects with a total additional capacity of 2,300 mw to generate solar energy in next few years, according to its MD & Director Solar, Dr. Ashvini Kumar.

The corporation is committed to finalize 5,500 mw of solar energy in next few years for which PPAs to produce 3,200 mw are already in place and tendering process for remaining 2,300 mw of solar power projects are at various stages of implementation, clarified Dr. Kumar emphasizing that his corporation has fixed up a particular percentage for domestic content in these proposed 5,500 mw of solar energy to spur up ‘Make in India’.

Addressing a Conference on Roadmap to Achieve 175 GW Renewable Energy by 2022 under aegis of PHD Chamber of Commerce and Industry here today, Dr. Kumar also disclosed that tendering for 100 mw of roof top solar power has already been approved for government buildings as a separate package by the Ministry of New and Renewable Energy.

“Following encouragement from the government to spur up and promote Make in India, the solar power corporation has been specifying in its tendering documents a domestic content in solar power plants to also ensure level playing field for indigenous developers of such projects”, said Dr. Kumar.

According to him, Tamil Nadu has taken a lead in putting up solar power projects to the total capacity of 1,590 mw until now followed by 1,370 mw and 1,158 mw Rajasthan and Gujarat respectively whereas Andhra has succeeded in creating a substantial solar capacity in its geographical landscape.

VC&MD, New & Renewable Energy Development Corporation of AP, Mr. M Kamalakar Babu who also was present on the occasion, however, informed that a world standard energy university is going to come up in the State for which a draft bill would be produced in the State Assembly in its Budget Session.

According to him, Andhra is one state which has already committed to produce 10 per cent of the total solar capacities of non-conventional power as is being visualized under the Prime Minister’s favourite project which has been encouraging production of clean and green energy.

Among others who were present at the Conference comprised Senior Vice President, PHD Chamber, Mr. Anil Khaitan; Senior Vice President & Co-Head Corporate Sector Ratings, ICRA, Mr. Sabyasachi Majumdar; Co-Chairman, Renewable Energy Committee, PHD Chamber, Mr. Vijay Kumar Goel and its Director, Dr. Ranjeet Mehta.

Mixed Response to Demonetization: PHD Chamber Survey

While releasing the survey on demonetisation to remonetisation process, Mr. Gopal Jiwarajka, President, PHD Chamber said that there is a mixed response from the economists, businesses and people.

Majority of the economists (81% Respondents) have cited a significant impact on India's economic growth in the shorter term but the benefits of demonetization will help in sustaining economic growth in the longer term.

Survey of economists, businesses and people on a structured questionnaire was undertaken by the PHD Research Bureau of PHD Chamber of Commerce and Industry during the month of December 2016.

The survey got responses from more than 50 economists and analysts, 700 business firms and 2000 people.

In the business segment, 73% respondents are facing huge cash crunch due to demonetization as they are unable to fulfill their daily cash requirements to pay wages to daily wagers and contractual workforce.

Production process not only in the informal sector but also in the formal sector has been impacted directly or indirectly, said the survey.

Cash driven segments such as fruits and vegetable markets, horticulture and floriculture, agricultural and food processing, construction activities, among others have been impacted.

But the immediate effect would probably be short-lived and the long term effect will drive the Indian economy to new areas of growth in the coming times, said the survey study

Though the contraction in GDP cannot be ruled out due to fall in economic activity, growth in demand will start gaining momentum once the economy moves out of the transition stage of demonetization to remonetisation, said Mr. Gopal  Jiwarajka

It is expected that removal of black money from the system would create a good scope for reduction in interest rates via-a-vis lower inflationary expectations and reduce the incidence of direct taxation, he said

While assessing the impact on people, 92% Respondents said that the major impact of currency crunch is seen on daily needs of the people such as purchase of eatables, dairy products and other necessities, according to the survey

58% Respondents are facing high level of difficulty in fulfilling their day to day activities. 89% Respondents reported unavailability of cash at banks and ATMs as a major hurdle in withdrawing/depositing cash from the bank/ATMs, said the survey study.

There is a need of setting up of digital literacy booths outside banks majorly in rural regions for spreading digital literacy across all sections of the nation, said Mr. Jiwarajka

Government should incentivize RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) under the ambit of digital transfers so that more and more people adopt the available facility and are less dependent on cash transactions.

The threshold limit of Rs. 2,00, 000 for transactions under the RTGS and Rs. 50,000 for transfers under NEFT should be exempted from the service tax.

Also, removal of service tax charged while making payments through credit/ debit card or any other payment card up to Rs. 2,000 in a single transaction is a good start for the transformation of cash transactions to the digital transfers, however, the limit could be revised to Rs. 10,000.

Government should print more and smaller denominations such as Rs. 50, 100 and Rs. 500 notes so that there should be sufficient circulation of money in the market. Government needs to ensure that the sufficient quantity of money is being transported to the banks and ATMs in both rural and urban areas on time, he said

Facility of mobile ATMs in the Government, public sector and private corporate sector offices having more than 25 employees in their establishments, he added

Cash driven sectors such as constriction sector and Small and Micro Units (SMEs) should be facilitated by expanded cash limits for the payment of salaries of their daily wage and contractual workers, said Mr. Gopal jiwarajka

There is a need for low interest rates to propel a boom in Housing and Real Estate. This will substantially increase Employment as well as contribute towards GDP growth, he said

Invest in Germany with great deal of homework : PHD Chamber

Seminar on Doing Business in Germany-Potentials and Challenges jointly organized by the PHD Chamber of Commerce and Industry and Konrad Adenauer Stiftung (KAS) here on Friday felt that two way trade between India and Germany needs to be expanded to its full potential which yet to be realized.

The Seminar also recommended that a great deal of homework is required to explore the real potential of Germany especially when Indian corporates are looking to park their surpluses in Germany as it is a country which make sure that compliances of its laws by any foreign investors are strictly adhere to under all circumstances.

Therefore, foreign investors need intense collaboration with those that understand and comprehend the German laws before foreign investors intend to commit their investments in its land.

The perspective areas in which foreigners can look up to investing in Germany consists of automobile, IT enable services, digital economy and disposal of nuclear waste with cutting edge technology as Germans have decided to discard all its nuclear fed power plants in view of its commitment to environment and green energy.

The experts that expressed the aforesaid recommendations for investing in Germany comprised Dr. Caroline Silva-Garbade, Economic Counsellor, Embassy of Germany; Mr. Markus Hoffmann von Wolffersdorff, Rechtsanwalt Mediator, Dorschner & Hoffmann Rechtsanwalte; Ms. Arashveer Brar, Partner, Maheshwari & Co.; Chairman and Co-Chairman, Law & Arbitration Committee, PHD Chamber, Mr. Vipul Maheshwari and Mr. Ravi Singhania along with Chamber’s Consultant, Mr. R K Joshi.

Support to social sector along with interest rate cut by banks a welcome beginning: PHD Chamber

While complementing the recent reform measures announced by Hon’ble Prime Minister Shri Narendra Modi Ji, the President, PHD Chamber of Commerce and Industry, Mr. Gopal Jiwarajka,  said that  the focus to facilitate the social sector followed by interest rate cut by the leading banks is inspiring and would go a long way to foster all-inclusive development of the country.

Interest rate reduced by the banking sector is a good move to rationalize the cost of credit in the economy.

Reforms on facilitation to MSMEs, farmers, women and senior citizens are inspiring; facilitation to housing for poor under the Pradhan Mantri Awaas Yojana is a great initiative, said Mr. Gopal Jiwarajka.

It will enhance construction activity in the economy and create lots of employment opportunities for skilled, semi skilled and unskilled workforce, said Mr. Jiwarajka.

Facilitation of RuPay debit cards for farmers owning Kisan Credit Cards would benefit the farmers in terms of reduced hassles, said Mr. Jiwarajka

Credit guarantee for the interest of small and medium businesses will reduce the financial problems of the MSMEs, boost up their growth scenarios and create  employment opportunities in the MSME sector.

Raising the credit limit for small industry from 20 per cent of turnover to 25 per cent, increasing working capital loans from 20 per cent of turnover to 30 per cent for enterprises that transact digitally  is a great relief for small businesses said Mr. Gopal Jiwarajka.

The income of businesses with turnover of up to Rs 2 crores to be calculated at 6% from 8% under the digital transactions is a great starting to facilitate the MSMEs, he said

Financial support to  pregnant women is a good initiative for child and women welfare.

Provisions for senior citizens with a fixed rate of interest at 8 per cent for a period of 10 years on deposits upto 7.5 lakh rupees would strengthen the financial security of elderly and promote long term savings in the economy.  

We look forward to the continuation of dynamic policy environment and more reforms to come in the areas of ease of doing business and financial problems of the businesses, said Mr. Gopal Jiwarajka.