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ANDHRA CHAMBER
OF COMMERCE
INFORMATION BULLETIN
PROGRESS THROUGH COMMERCE AND INDUSTRY
Bulletin Advisory Board
Contents
1. President Desk........................................................................... 2
Shri Ch. Venkateswara Rao
Vice-President 2. Chamber News ......................................................................... 3
Shri R.R. Padmanabhan 3. Symposium on Central Budget – Event at Hyderabad ................ 5
Chairman,
Skill Development Sub Committee 4. GST e-way bill – Objectives and Legal Provisions ...................... 6
Shri M.K. Anand 5. Event : ACCELERATE – International Business Connect............... 9
Chairman
IT and Telecom Sub-committee 6. Event : Energy and Energy Management ................................. 12
Shri V.V. Sampath Kumar 7. Event : Interactive Session on Foreign Trade Policy .................. 14
Chairman, Indirect Taxes
8. Foreign Trade Statistics ........................................................... 18
Shri K.N. Suresh Babu
E.C. Member 9. Integrated Reporting – Article by Shri P S Kumar ..................... 21
Shri V.S. Prasanth Kumar 10. Mind Change or Mind-set Change
E.C. Member
Mr M K Anand.......................................................................... 24
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Published by 11. Recent Judgements in VAT CST
Shri. P. Nandagopal Mr V V Sampath Kumar............................................................ 25
Secretary
12. Subsistence Farming to Agri Business
Andhra Chamber of Commerce
Mr R R Padmanabhan............................................................... 29
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Printers 13. Picture Gallery ......................................................................... 32
RATHINAM PRINTERS
14. Business Opportunities in Sri Lanka......................................... 39
New no 27, Old no 13,
Angamuthu Street, 15. Labour Laws – Consumer Price Index....................................... 45
Royapettah,
Chennai - 600 014 16. E-Bulletin Advertisement Tariff ................................................. 48
President
Dear Member,
The union Budget for 2018-19 presented by Hon’ble Finance Minister Shri Arun
Jaitely mainly focused on strengthening Agriculture and Rural economy incentivizing
job creation, making healthcare available for the lesser privileged and creation of
infrastructure.
Government’s contribution of EPF for new employees as the employer’s contribution
in all sectors for next three years will bring down labour costs for the industry which will
eventually boost employment creation. The Finance Minister has extended fixed- term
contract hiring to all sectors enabling employers to hire workers for specific projects on
fixed period contracts. This long pending demand of the industry which will now provide
employers the flexibility in hiring that will gradually bring more Private investments,
resulting in more job creation.
After earning accolades on the 30th rank improvement in Ease of Doing Business,
now the Government aims to enhance ‘Ease of Living in the country with the theme of
the current Budget.
Last year, the Government had reduced Income tax for small companies with annual
turnover up to Rs.50Crore. In the current Budget it has been extended to companies with
annual turnover of up to Rs. 250 Crore. These tax incentives are expected to improve
the health of MSME sector and lead to better employment scenario. The Budget has
stimulated both demand and supply drivers of education through maximum budgetary
allocation on infrastructure, MSMEs and Healthcare.
With the version of doubling farm income, the Finance Minister proposed to improve
avenues for marketing. New sources for farm income through sale of excess solar power
produced by farmers is a novel measure to improve their income.
Let us hope for the overall economic development and prosperity with the effective
implementation of many social welfare measures announced in the Budget.
V.L. INDIRA DUTT
President
2
NEWS
CHAMBER
Symposium on Central Budget for 2018-19 at
Chennai
A Symposium on central Budget for 2018-19
organised by the Chamber was held on February
5, 2018 at Chamber’s conference Hall. We are all aware the Finance Minister proposed
stepping up of investments in healthcare and
Shri T.Banusekar, FCA, Shri B. Ganesh
infrastructure projects in the current budget.
Prabhu, FCA, Partners of M/s. C.Ramasamy
& B.Srinivasan, Chartered Accountants and According to Moody’s ratings, the Budget is
Dr.Vidya Mahambare, Associate Professor, in line with the country’s fiscal consolidation plan
Green lakes Institute of Management were the and budgetary allocations on various productive
Symposists. investments that will bring down the debt to
GDP ratio to 40% from 49% percent now.
Smt. V.L. Indira Dutt, President welcomed
the speakers and the Members present. In Thrust to infrastructure development will
her welcome address she observed: The generate growth and employment across
Budget proposals this year mainly focused on various segments like roads, railway, airports,
Agriculture, Rural Health, Food processing smart cities, affordable homes, promotion of
Industry and Infrastructure projects to encourage rural livelihood among others.
employment generation. By excluding the large corporates from
The measures proposed to develop the promised corporate tax reduction, the
Agricultural Markets, Fisheries, Aquaculture and Government has missed an opportunity to create
Animal husbandry will accelerate overall rural more wealth in the hands of entities towards
economy. regeneration of investment momentum.
The Trade and Industry are happy that the MSMEs which were affected on account of
minimum Government intervention and maximum demonetization and GST implementation will
governance was ensured through online stand to gain with the proposed of reduction in
registration and assessments electronically. Corporate tax. This may result in job creation
and a buoyant economy.
Imposition of 10% tax on long term capital
gains tax on equity shares and mutual fund The proposed new electronic mode
dividends is a dampener to capital market assessment of taxation is expected to generate
investment. more efficiency, transparency and buoyancy in
Tax collection.
Widening of patient base for health treatment
is a welcome measure since it will cover nearly On the Indirect Taxes side this is the first
half of the population of India. Budget after the roll-out of the GST. The Finance
3
Minister had made some tinkering in the Customs Shri B.Ganesh Prabhu, Chartered Accountant
duties to further incentivize the domestic value and Senior Consultant on Indirect Taxes in his
addition and Make in India advantage to the address observed: “ Hon’ble Finance Minister had
sectors like mobile phones and electronic goods. proposed customs duty hike on a range of products
For facilitating Ease of Doing Business the like footwear, personal care products, LED and
Finance Minister has announced certain trade OLED TV Panels – Components accessories,
facilitation measures. More clarity will be seen on Watches, Sunglasses to avoid dumping of china
these measures when the fine print of the Budget products. In the mid to long term the appliances
notifications are issued. and consumer electronics will certainly benefit
from this initiative since it will help boost local
Over all, this year’s Budget will lead to create manufacturing. As India is becoming the global
more job opportunities from the Infrastructure, hub for manufacturing, the measures taken in the
Agriculture and MSME sectors. Budget will surely instil confidence among the
Shri T.Banusekar in his critical analysis on manufacturers”.
budgetary changes in Direct Taxes observed: The Dr. Vidya Mahambare in her presentation on
Budgetary proposals on Direct Taxes will have an Economic Overview of the Budget observed:
impact directly or indirectly on Individual investors “Holistic revitalization of agriculture and rural
and taxpayers. economy is the centre – piece of this Budget. In
The proposal 10% tax on all long term capital addition to the historic decision to increase MSP
gains – LTCG of more than Rs. 1 lakh per annum on all crops to 1.5 times the cost of production the
had already created a stir in the market. Market Government has proposed to create institutional
players pointed out that under LTCG tax may take mechanisms for better price realisation and demand
away some elements of competitiveness from forecast. With the vision of doubling farm income,
India. the finance Minister proposed to improve avenues
for marketing. New sources for income through
Investors will not get indexation benefit a
sale of excess solar power produced by farmers is
provision that was prevaiting prior to October
a novel measure to improve their income. To boost
2004. The Government expects about Rs.20,000
financial inclusion in allied sectors like fisheries
Crore to accrue to the exchequer through this tax.
and dairy, dedicated infrastructure development
All dividends distributed by equity Mutual funds
funds and extension of the facility of Kisan credit
will be taxed at 10%. The new 10% tax on LTCG is
cards have been provided. The focus is also on
being introduced to minimise economic distortions
enhancing value addition and increasing value
and erotion of tax base.
addition and creating a liberalized agri - export
The standard deduction of Rs.40,000 per annum regime”.
in lieu of the transport and medical allowances
The speakers answered the questions raised by
was announced but the maximum a salaried
the participants and clarified their doubts.
individual will gain about Rs.2100 per annum. The
Finance Minister introduced an enhanced cess on Earlier Smt.V.L. Indira Dutt, President extended
Income Tax payers to 4% to support health and floral welcome to the speakers. She presented
education. Earlier there was a 3% cess for higher mementos to the symposists. More than 50 senior
education and primary education. Due to this new executives drawn from among the Chamber
enhancement of cess, individuals with incomes in member group participated in the symposium.
excess of Rs.1 crore will have to pay an effective The symposium concluded with a vote of
rate of tax at of 35.8% instead of 35.5 percent paid thanks proposed by Shri C.Nagendra Prasad,
currently. Vice-President, ACC.
4
Symposium On
Central Budget
2018 - 2019
organised at Hyderabad
A ndhra Chamber of Commerce, Secunderabad
organized a Symposium on Central Budget
2018-2019 on Monday, February 5, 2018 at “Atluri
Notifications are issued.
Overall this year’s Budget will lead to create
more job opportunities from the Infrastructure,
Koteswara Rao Memorial Hall” of the Andhra
Agriculture and MSME sectors.
Chamber of Commerce, Secunderabad for the
benefit of the trade & industry . CA. Shri K. Amrit Kumar, SPAD & Associates,
CA.Shri Ritesh Mittal, Partner, Sanjay Kumar
Shri VBSS Koteswara Rao, Executive Committee
Kothari & Co, Shri Abhiramula Moksha Kalyanram,
Member, ACC chaired the session and welcomed
Chamber Resource Person who have given
the Guest Speakers and participants for the
detailed presentations on Budgetary changes in
Symposium on Central Budget 2018-2019. In his
Direct Taxes, Indirect Taxes, Economic Overview &
welcome address Shri Koteswara Rao observed
Growth Prospects respectively.
–: The Budget proposals this year mainly focused
on Agriculture, Rural Health, Food Processing Earlier Shri Boorugu Suryaprakash Rao, Shri N.
Industry and Infrastructure Projects to encourage Pardhasaradhi, Hon. Advisory on Foreign Trade,
employment generation. The measures proposed Shri U.Pathanjali Rao, ACC Advisory Committee
in the Budget on Agricultural Markets, Aquaculture member extended the floral welcome to the guest
and Animal Husbandry will accelerate overall Rural speakers.
Economy. There was a good interaction between the
The Trade and Industry are happy that the participants and the speakers, All the questions
Government had ensured minimum Government raised by the participants were answered by the
Intervention and maximum governance through speakers.
online registration and assessments electronically. Shri VBSS Koteswara Rao, EC Member,
MSME’s which were effected on account of ACC presented Mementoes to the Symposium
demonetization and GST implementation will speakers.
stand to gain with the proposed of deduction in More than 60 participants drawn among the
corporate tax, this may result in job creation and Chamber Members and invitees participated in the
buoyant economy. For facilitating Ease Of Doing seminar. The Programme concluded with a Vote of
business the Finance Minister has announced Thanks by Shri O. Srinivas, Joint Secretary, ACC,
certain Trade facilitation measures, on these more Secunderabad.
clarity will be seen when the fine print of Budget
5
Presentation on
GST E-Way Bill – objectives
and Legal Provisions on
January 30, 2018
Andhra Chamber of Commerce organised a Presentation on GST E-Way
Bill – objectives and Legal Provisions on January 30, 2018 at the Chamber’s
Conference Hall, Chennai. CA. Shri J.Purushothaman, Practicing Chartered
Accountant & Consultant on GST and CA. Shri V.V. Sampathkumar, Practicing
Chartered Accountant & Consultant on GST were the Speakers.
Shri J. Purushothaman in his address observed: “The GST Council in its
meeting on December 16, 2017, decided to implement the E-way Bill mechanism
for interstate movement throughout the Country from February 1, 2018. Taxpayers
and Transporters can start using this system on a voluntary basis from January
16, 2018.
Under GST, transports will need to carry an Electric Way Bill or E-Way Bill when
moving goods from one place to another. Since it is a new rule introduced under
GST, it is necessary for all condignors / consignees / transporters to be aware of
the required compliance.
A way Bill is a receipt or a document issued by a carrier giving details and
instructions relating to the shipment of a consignment of goods and the details
include name of consignor, consignee, the point of origin of the consignment, its
destination and route.
Electronic Way Bill (E-Way Bill) is basically a compliance mechanism wherein
by way of a digital interface the person causing the movement of goods uploads
the relevant information prior to the Commencement of movement of goods
and generates E-way Bill on the GST portal. Rule 138 of the CGST Rules, 2017
6
provides for the E-way Bill mechanism and without consideration (without payment). In
in this context it is important to note that simpler terms, the term supply usually means
information is to be furnished prior to the a : Sale –sale of goods and payment made,
commencement of movement of goods and Transfer – branch transfers for instance, barter/
is to be issued whether the movement is in Exchange – where the payment is by goods
relation to a supply or for reasons other than instead of in money. Therefore, E-way Bills
supply. must be generated on the common portal for
E-way Bill is an electronic way bill for all these types of movement.
movement of goods which can be generated Registered Person – E-way bill must be
on the GSTN (common Portal). A movement of generated when there is a movement of goods of
goods of more than Rs.50,000 in value cannot more than Rs 50,000 in value to or from a Registered
be made by a registered person without an Person. A Registered person or the transporter
e-way bill. may choose to generate and carry e-way bill even
if the value of goods is less than Rs 50,000.
E-way Bill will also be allowed to be
generated or cancelled through SMS. Unregistered Persons – Unregistered persons
are also required to generate e-Way Bill. However,
When an E-way Bill is generated a unique
where a supply is made by an unregistered person
E-way Bill number (EBN) is allocated and is
to a registered person, the receiver will have to
available to the supplier, recipient and the
ensure all the compliances are met as if they were
transporter.
the supplier.
For this purpose, a supply may be either if the
Transporter – Transporters carrying goods by
following: A supply made for a consideration
road, air, rail, etc. also need to generate e-Way Bill
(payment) in the course of business. A supply
if the supplier has not generated an e-Way Bill.
made of a consideration (payment) which may
not be in the course of business. A supply
Who When Part Form
Every Registered person Before Fill Part A Form GST EWB-01
under GST movement of
goods
Registered person is Before Fill Part B Form GST EWB-01
consignor or consignee movement of
(mode of transport may goods
be owned or hired) OR is
recipient of goods
Registered person is Before Fill Part B The registered person shall
consignor or consignee and movement of furnish the information relating
goods are handed over to goods to the transporter in Part B of
transporter of goods FORM GST EWB-01
Transporter of goods Before Generate e-way bill on basis
movement of of information shared by the
goods registered person in Part A of
FORM GST EWB-01
7
Who When Part Form
An unregistered person Compliance 1. If the goods are transported
under GST and recipient is to be done for a distance of ten kilometers or
registered by Recipient less, within the same State/Union
as if he is the territory from the place of business
Supplier. of the consignor to the place of
business of the transporter for
further transportation, the supplier
or the transporter may not furnish
the details of conveyance in Part B
of FORM GST EWB-01.
2. If supply is made by air, ship or
railways, then the information in
Part A of FORM GST EWB-01 has
to be filled in by the consignor or
the recipient
Note: If a transporter is transporting multiple on the basis of the invoice/bill of supply/delivery
consignments in a single conveyance, they can use challan given to them.
the form GST EWB-02 to produce a consolidated
Validity of e-Way Bill: An e-way bill is valid
e-way bill, by providing the e-way bill numbers of
for periods as listed below, which is based on
each consignment.
the distance travelled by the goods. Validity is
If both the consignor and the consignee have calculated from the date and time of generation of
not created an e-way bill, then the transporter can e-way bill-
do so by filling out PART A of FORM GST EWB-01
Distance Validity of EWB
Less Than 100 Kms 1 Day
For every additional 100 Kms or part thereof Additional 1 Day
More than 110 participants drawn among During the question and Answer session Shri
Andhra Chamber Member-group participated in V.V. Sampath Kumar and Shri J.Purushothaman
the Seminar. answered all the questions raised by the Member-
participants.
8
Accelerate
International Business Connect
“A ccelerate – International Business Connect” organized by Global EXIM Institute,
supported by Andhra Chamber of Commerce was held on January 23, 2018 from
10 am to 5pm at Hotel Vivanta Taj, Begumpet, Hyderabad.
The main objective of this program is to bring various countries commercial wings
heads situated in Hyderabad on a single platform to share the business opportunities
in their respective countries. Similarly some of the commercial agents from China and
African countries also joined the platform to highlight the services they can offer to
budding and prospective exporters and importers. This program was attended by more
than 150 exporters and importers fraternity from various verticals.
The Programme was started with a welcome address by Mr. Koteswara Rao, CEO,
Global EXIM Institute, Hyderabad. Federation of Indian Export Organizations (FIEO),
Pharmaceutical Export Promotion Council, and Andhra Chamber of Commerce also
extended their support.
Sri Satyan Sharda, ITS, Additional Director General of Foreign Trade, Ministry of
Commerce, Govt. of India in his inaugural address stated that exports are showing good
growth and even last month it has shown a positive growth of 12.36 in terms of dollars
and cumulative growth of April 2017 to Dec 2017 is also showing a 12% growth sofar. He
also added that Mid Term Review of Foreign Trade Policy 2015-2020 has enhanced MEIS
incentive by 2% on labour intensive and MSME sector exportable products. Hyderabad
has good potential for exports and assured for any kind of help or guidance from DGFT,
Hyderabad office. He has also appreciated the effort of Global EXIM to create such a
wonderful platform of business connect to the prospective exporters.
9Sri P Sai Babu, Deputy Director General of
Foreign Trade in his special addressed explained
about the digitalization of DGFT services for ease
of doing business. Explained that all the services
have now time charter and exporter or importers
are advised to make use of technology for easy
dealings with DGFT for any transactions.
Dr. JAS Giri, Vice President of Andhra Chamber
of Commerce, Hyderabad in his keynote address
stated that exports are the lifeline of the nation
and Hyderabad has an advantage of abundant
resources. Wonderful platform with a pool of Andhra Pradesh in the sectors of ICT, Life Sciences
various countries opportunities and also direct and Healthcare, Agro and Food Processing, Ports
networking with services providers is an unique and Logistics, Water and Wastewater, Aerospace,
concept and advised the participants to make of Infrastructure and developing smart cities. Indian
this opportunity to “Accelerate” their business imports from Netherland can be chemicals
through this programme. and related products, machinery and transport
Mr. Srinath, Joint Director of Federation of equipments, crude material like metal ores and
Indian Export Organisations also addressed the scrap and manufactured goods (non-ferrous
participants and explained about the services and metals, metal manufactures, paper, paperboard
role of FIEO for registering multiple products under and articles.
one umbrella body of all the councils for more Mr. Raghunandhan Jhanwar, China Agent
convenience. has highlighted various importing opportunities
TECHNICAL SESSION: 1 of consumer goods, electronics, construction
Mr. Vikram Jain, Trade Commissioner, materials, which he has been giving a sourcing
Canadian Trade Office, Hyderabad, Mr. Ram support and organising end-to-end solutions to
Babu Vendantham, Deputy Trade and Investment Indian Importers.
Commissioner, Netherland, Mr. Raghunandhan Mr. Ramachandra Reddy, CEO of
Jhanwar, China Agent joined from Zhejiang IndoAfricaTrade.com has explained about the
and Mr. D Ramachandra Reddy, CEO of www. business environment and highlighted on amazing
indoafricatrade.com chaired by Mr. Koteswara business opportunities with the whole continent.
Rao, CEO, Global EXIM Institute. He has explained about some of the majorly traded
Mr. Vikram Jain from Canada Trade Office items by small exporters are cashew, wood, pulses
has explained about the Canada highlights which he has been dealing based at Lagos, Nigeria,
in terms of business environment. For Indian which is the 4th largest producer of cashew in the
various opportunities with Canada are technology world. In terms of investment opportunities in Africa
transfer, joint ventures, collaborations, trade and is infrastructure, ICT, hospitals and healthcare,
investments in both ways. Pharma, Bio Sciences, educations, minerals processing, food processing
Life Sciences and Aerospace sectors has good ect.
export potential to Canada. , he added. In Technical Session 2, various services
Mr. Ram Babu Vendantham, Deputy Trade providers of Banking, FOREX, Logistics and Trade
and Investment Commissioner, Netherland has Fairs Tour operators were also included on this
explained about the competitive advantage of forum.
the Netherland. He has highlighted the synergies Mr. Kizhepati Gopal, Vice President, Yes Bank
between the Netherlands and Telangana and
10has explained about various financing options for Rail, road and Air Transportation with all All India
Exporters such as Pre-shipment/Post-shipment, connectivity having warehousing and serving till
Export LC transfer, confirmation, discounting, last mile delivery. Having excellent infrastructure of
and Interest equalization schemes. For Importing CFS/ICD Bonded warehouse, general warehouse,
financing, how they can extend the buyers credit retroifit warehouse, private rail terminal/
and suppliers credit was well explained and transportation and road transportation under one
extended YES Banks full support for the business roof is their strength, he added.
growth of Indian exporters and importers.
Mrs. Sajitha Shaji, from Coxs and Kings has
Mr. Ramesh Varadhedkar, Director, Karvy Forex focused on the upcoming international trade fairs
and Currencies Pvt Ltd has highlighted on how to for Indian exporters. For Pharma Sectors, the
manage the FOREX and enhancing the currency upcoming CPhi being held at Mandrid and for
realization value. Shown the live demonstration general importers on the forthcoming CANTON
of live market and how it fluctuates and how to fair being held in China at Guangzhou during April
check the prices of various currencies rather 2018 in three phases are the highlights of her
than depending on the banking conversion rates. presentation on how they manage and extend their
Explained about various fundamental factors services.
affecting the exchange rates.
Mr. Prakash Narayanappa, Programme Director
Capt. Saurabh Mathur, CEO of Continental of Global EXIM Institute, Bangalore has proposed
Multimodel Terminals Ltd, which is a private dry vote of Thanks.
port at Hyderabad providing Coastal Shipping,
11Presentation on
Energy and
Energy Management
A presentation on ‘Energy and Energy
Management” was organised by the Chamber
on January 9, 2018 in association with IMCI –
Chennai Chapter.
Shri V. Pandurangam, Head-Project Division,
Meticulous Group was the speaker. Smt. V.L. Indira
Dutt, President chaired the meeting. In her welcome
address she observed:” The prosperity and growth of the
modern societies depend a large extent on having sufficient
energy available – as electric power, fuel or feedstock. The
idea of energy management revolves around the efficient
production and consumption of energy. World’s energy need is
still growing and will continue to grow, especially in large emerging
economies like India.
Energy needs to be conserved to protect our environment from
drastic changes, to save the depleting resources for our future
generations. The rate at which the energy is being produced and
consumed can damage our world in many ways. We can reduce those
impacts by consuming less energy. The cost of energy is rising every
year. It is important for us to realize how energy is useful to us and how
can we avoid it getting wasted through proper Management.
On behalf of the Members present, I convey our grateful thanks to
Dr. M.K. Muthuvelu, Chairman, Energy Sub-Committee of the Chamber
for taking the initiate of arranging this programme for the benefit of the
Chamber Member and Invitees”.
Shri V. Pandurangam in his presentation observed: “Energy is the amount of
force or power when applied can move one object from one position to another
or Energy defines the capacity of a system to do work. Energy exists in everybody
whether they are human beings or animals or non-living things. Energy is broadly classified into two main
groups: Renewable and Non-renewable.
Energy needs to be conserved to protect our environment from drastic changes, to save the depleting
resources for our future generations. The rate at which the energy is being produced and consumed can
damage our world in many ways. In other words, it helps us to save the environment. We can reduce
those impacts by consuming less energy. The cost of energy is rising every year. It is important for us to
12realize how energy is useful to us and how can we ways to improve energy conservation in buildings
avoid it getting wasted. is to use an energy audit. Recent development of
smart phone apps enable homeowners to complete
To start saving energy is not a big thing at all.
relatively sophisticated energy audits themselves.
We can start saving the energy from our home
itself, just by turning off the lights during day hours, An assortment of energy-efficient semiconductor
washing clothes in cold water or using public (LED) lamps for commercial and residential lighting
transport instead of using our own vehicle and use. LED lamps use at least 75% less energy, and
later can implement these things on much wider last 25 times longer, than traditional incandescent
scale at society level, then at city level then district light bulbs.
level and finally at country level. You might notice a
Smt. V.L. Indira Dutt presented a Memento TO
small change in your monthly bills by implementing
Shri V. Pandurangam.
these changes as they would be getting decreased
more and more. With so many alternatives and More than 40 participants drawn among
so many techniques availability of more modern Andhra Chamber Member-group and IMCI
equipments, if millions of people like us start doing Members participated in the meeting. The Meeting
these things, it will help us to save much more concluded with a vote of thanks proposed by Shri
money and also help the environment. K. Srinivas, Treasurer of ICMI –Chennai Chapter.
The meeting was followed by Dinner and hosted
Energy conservation is a part of the concept
by Dr. M.K.Muthuvelu, Treasurer, ACC.
of eco-sufficiency. Energy can be conserved by
reducing wastage and losses, improving efficiency
through technological up gradation and improved
operation and maintenance. One of the primary
13Interactive Session on
Foreign Trade Policy
2015-2020
Midterm Review – Procedures
and Incentives at Visakhapatnam
An interactive session on Foreign Trade Policy – Midterm Review organised by
Andhra Chamber of Commerce was held on January 5, 2018 at Hotel Daspalla,
Visakhapatnam.
Shri Alok Dwivedi, ITS, Deputy Director General of Foreign Trade, Dr. B. Punnam
Kumar, Asst.DGFT, Ministry of Commerce were the Chief Guests.
Dr. Jitender Sharma, Managing Director & CEO of A.P. Medtech Zone Limited,
Shri R.R. Padmanabhan, Chairman, Foreign Trade Sub-Committee, ACC, Dr.Radha
Raghuramapatruni were the Guests of Honour at the above Interactive session.
Shri M. Raghavendra Rao, Chairman, Visakhapatnam Advisory Committee
welcomed the Chief Guests, Guests of Honour and Speakers. In his welcome address
Shri Raghavendra Rao observed: “Hon’ble Shri Suresh Prabhu, Union Minister for
Commerce & Industry released the much awaited Mid-term Review of the Foreign Trade
Policy on December 5, 2017. Hon’ble Minister while releasing the policy mentioned
that the review of the FTP will leverage the long term advantages of the GST and in
terms of reduced compliance and logistics costs. The current policy will focus on
exports from Labour intensive and MSME Sectors by way of increased incentives
in order to enhance employment opportunities. Eventually, more importance will be
given for Ease of trading across borders. While traditional products and markets will
be encouraged as earlier, the focus will be on new products and new markets.
14There is a need to resolve the problem of ”The Andhra Pradesh MedTech Zone (AMTZ),
blockage of working capital by expediting refunds India’s first ultra modern medical equipment
of ITC and IGST due for exporters. The Ministry of manufacturing zone in Visakhapatnam, has signed
Commerce should continue to work in collaboration a Memorandum of Understanding (MoU) with the
with the Ministry of Finance to address the Quality Council of India (QCI) for the promotion of
operational issues of exporters who have major Indian Certification for Medical Devices (ICMED)
role in earning valuable foreign exchange for the Scheme in India in order to significantly eliminate
growth and development of the Country”. trading of sub-standard products or devices
Shri Alok Dwivedi, Deputy DGFT in his address where supply chains are unknown. The atomic
observed: “The FTP will continue with whole of energy regulatory board has set up the Directorate
Government approach involving all Ministers of Radiation Safety (DRS) at India’s first medical
and State Governments. Over the last 10 years, device park, Andhra Pradesh MedTech Zone
exports have grown at a CAGR of 8 percent which (AMTZ) in Visakhapatnam.
is fairly creditable. The Government rcognizes AMTZ recently signed MOU with Engineering
that the Medium and Small scale industries Export Promotion Council of India (EEPC) to drive
require handholding and thus rates for MEIS for ‘Made in India’ exports of medical technology
such sectors have been enhanced. An important products. This is envisaged to provide much-
consideration in framing this policy has been the needed support for Indian medical device
need to ensure that the FTP is aligned with both manufacturers to increase export of ‘Made in India’
India’s interests in trade commitments under products to cater to global medical device demand
various WTO agreements. The biggest challenge, of approximately Rs.30 lakh crore.
however is to address constraints within the
The Department of Health, Medical & Family
country, such as infrastructure bottlenecks, high
Welfare (HM & FW), Government of Andhra
transaction costs, complex procedures, constraints
Pradesh, has set up the DRS - Directorate of
in manufacturing and inadequate diversification in
Radiation Safety at Andhra Pradesh MedTech
our services. Towards this end, the Department of
Zone (AMTZ) in Visakhapatnam”.
Commerce has set up a new division to promote
integrated and streamlined logistics development Dr. Radha Raghuramapatruni in her address
in the country. For addressing gap in infrastructure observed: “Focus on increasing India’s exports
for exports Scheme has been launched”. in under and un-taped markets in high potential
regions like Africa, to cover not just trade in
Dr. B.Punnam Kumar, Asst. DGFT in his
goods and investment but also in capacity
presentation observed: “Revised FTP focuses
building, technical assistance and services such
on Exploring new markets and new products as
as healthcare and education. Sectors like agro-
well as increasing India’s share in the traditional
processing, manufacturing, mining, textiles,
markets and products. Leveraging benefits of
consumer goods, infrastructure development
GST. Closely monitoring exports performance
and construction would be focus areas. Greater
and taking immediate corrective action through
engagement with Latin America and the Caribbean
state of the are data analytics. Increasing ease of
region, including encouragement of project exports
trading across borders through trade facilitation.
through easy access to credit.
Enhancing participation of Indian Industry in global
value chains. Increasing farmers incomes through Focus on promising product group like medical
a focused policy for agricultural exports. Promoting devices/ equipment, technical textile, electronic
exports by MSMEs and labour intensive sectors to component, project goods, defence and hi-
increase employment opportunities for the youth”. tech products in addition to labour intensive and
MSME products like agricultural, marine, carpets,
Dr. Jitendra Sharma, Managing Director & CEO,
leather, ayush and health, textiles and readymade
A.P. Medtech Zone in his presentation observed:
15garments, handloom, handicrafts, coir, jute New Logistics Division created in the
products, diamond, gold and jewellery. Promoting Commerce Department to develop and coordinate
growth of exports from high value addition and implementation of an Action plan for the integrated
employment generating sectors with a strong development of the logistics sector, by way
domestic manufacturing base, to be the domestic of policy changes, improvement in existing
manufacturing base, to be the Iynchpin of India’s procedures, identification of bottlenecks and gaps
overall export growth strategy”. and introduction of technology in this sector”.
Shri R.R. Padmanabhan in his Presentation The Chief Guests and the Speakers clarified the
observed: “Contact @ DGFT service for Complaint doubts expressed by the participants during the
resolution has been activated on the DGFT website question and answer session.
(www.dgfft.gov.in) as a single window contact point
More than 50 leading Member – Exporters and
for exporters and importers for resolving all foreign
Importers participated in the meeting. The Meeting
trade related issues. Exporters/ importers can also
concluded with a vote of thanks proposed by Shri
voice their concerns/suggestion on DGFT portal
P. Nandagopal, Secretary, ACC.
at Contact @DGFT. Exports/Importers can track
the status through the assigned reference number.
Envisages high level monitoring of disposal of such
reference.
16WELCOME
TO ORDINARY MEMBERSHIP
W e have pleasure in welcoming the following who were admitted by the
Executive Committee as Members of the Chamber on January 9, 2018:
Builders Association of India, Amaravati Centre (A.P), Maruthi Towers, 1st Floor,
Flat No. 3A, Opp. DV Manor, Tikkile Road, Vijayawada – 520 010 (A.P).
(i) Shri V. Nagarajan, Partner, Thej Entertainment, # 2E, Oakland Apartment,
Malony Road, T. Nagar, Chennai-600 017( ii) Shri V.P. Rathish Udayar, Vice-President,
No.24, 1st Cross Street, Kooturavu Nagar, Adambakkam, Chennai – 600 088 (iii)
Shri P. Jeevan Prashanth, Managing Partner, Orillet Foods International, # 6-3-
320, Ram Nagar, Anantapur – 515004 (A.P) (iv) Shri Rohit Chadha, Partner, Himgiri
Polyplast Solutions LLP, 17 & 18, 1st Floor, Srinath Commercial Complex, S.D.
Road, Secunderabad – 500 003 (T.S.) (v) Shri Apalla Ramjee, Partner, Janaki Agro,
Plot No, 24/A, 24B, 25 and 25,Jaimind Enclave, Sy.No.74 and 75, Madhapur,
Hyderabad – 500 081 (T.S.)(vi) Smt. Chinki Goyal, Proprietor, Qwik Power Solution,
6-6-33/1, Ring Road, Kattedan, Hyderabad – 500 052 (T.S.) (vii) Shri K.V. Suresh
Babu, Partners, RVKS and Associates, Chartered Accountants,6-4-11to19, Flat
No: 401A, Jayadurga Towers, Bholakpur, Secunderabad, Hyderabad -500 080
(T.S.)(viii) Shri S.M. Abdul Wahith, Proprietor, Nisha Enterprises, 4-4-80/18/G1, Plot
No.18,Spoorty Avenue,St.No.1, Veera Reddy Colony, Nacharam, Ranga Reddy,
Hyderabad – 500 076 (T.S.)(ix) Shri Shaik Osman, Proprietor, Bajabran Enterprises,
8-1-398/PM/158, Plot No. 158, Gate-1, Paramount Colony, Toliogowki, Hyderabad
– 500 008 (T.S)(x) Sigma Refractory Private Limited, No- 5/58, 3rd Street, Bharathi
Nagar, opp: Sharma Nagar, Vyasarpadi, Chennai – 600 039 (xi) Kwang Sung Brake
India Pvt Ltd, No. 49, Senyadu Village, Sengadu –Post, Sriperumbudur-Taluk,
Kanchipuram -602105 (T.N) (xii) Kenwin Private Limited, No.37, 3rd Cross Street,
Venkateswara Colony, Nehru Nagar, Kottivakkam, Chennai – 600 041 (xiii) Incline
Agro Tech Pvt. Ltd, Plot No.158/B,Flat No. 302, Above Model show Room, Near
Adarsh bank, S.R. Nagar, Hyderabad – 500 038 (T.S.)(xiv) Venkar Chemicals Pvt
Ltd., 7-2-1735 & 1813/5/A, Plot No.16, Street No. 1/A, Beside: SBI Bank, CZECH
Colony, Sanath Nagar, Hyderabad – 500 018 (T.S) (xv) Enertech Building Solutions
Pvt Ltd., Plot No: 66 to 77, IDA, Phase – III, Cherlapally, R.R. Dist. Hyderabad –
500 051 (T.S.)(xvi) SYSS Exports India Pvt Ltd., 9-21/3/8/M, Plot No.4, road No.3,
Ashok Nagar Colony, Uppal Bus Depot, Hyderabad – 500 092 (T.S.) (xvii) Cronus
Pharma Specialities India Pvt Ltd., Plot No.51, Meenakshi Bamboo, Gachibowli,
Hyderabad – 500 032 (T.S.)
17FOREIGN TRADE – STATISTICS
India’s Foreign Trade (Merchandise): December 2017
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
Exports during December 2017 have exhibited positive growth of 12.36 per cent in dollar
terms vis-à-vis December 2016. Exports have been on a positive trajectory since August
2016 to December 2017 with a dip of 1.1 per cent in the month of October 2017.
Exports during December 2017 valued at US $ 27030.27 million as compared to US
$ 24056.48 million during December, 2016. In Rupee terms, exports were valued at Rs.
173648.73 crore as compared to Rs. 163344.45 crore during December, 2016, registering a
rise of 6.31 per cent.
During December 2017, Major commodity groups of export showing positive growth over
the corresponding month of last year are Engineering Goods (25.32%), Petroleum Products
(25.15%), Gems & Jewellery (2.38%), Organic & Inorganic Chemicals (31.36%), and Drugs
& Pharmaceuticals (6.95%).
Cumulative value of exports for the period April-December 2017-18 was US $ 223512.58
million (Rs 1441419.91 crore) as against US $ 199467.14 million (Rs 1338341.51 crore)
registering a positive growth of 12.05 per cent in Dollar terms and 7.70 per cent in Rupee
terms over the same period last year.
Non-petroleum and Non Gems & Jewellery exports in December 2017 were valued at
US $ 20186.36 million as against US $ 18013.78 million in December 2016, an increase
of 12.06%. Non-petroleum and Non Gems and Jewellery exports during April -December
2017-18 were valued at US $ 163714.94 million as compared to US $ 144674.52 million for
the corresponding period in 2016-17, an increase of 13.16%.
IMPORTS
Imports during December 2017 were valued at US $ 41910.46 million (Rs 269242.54
crore) which was 21.12 per cent higher in Dollar terms and 14.59 per cent higher in Rupee
terms over the level of imports valued at US $ 34602.47 million (Rs. 234952.15 crore) in
December, 2016. Cumulative value of imports for the period April-December 2017-18 was
18US $ 338369.63 million (Rs. 2182289.84 crore) as II. TRADE IN SERVICES (for November, 2017, as per
against US $ 277899.32 million (Rs. 1865151.87 the RBI Press Release dated 15th January 2018)
crore) registering a positive growth of 21.76 per EXPORTS (Receipts)
cent in Dollar terms and 17.00 per cent in Rupee Exports during November 2017 were valued at
terms over the same period last year. US $ 15,392 million (Rs. 99836.51 Crore) registering
Major commodity groups of import showing a positive growth of 8.76 per cent in dollar terms
high growth in December 2017 over the as compared to positive growth of 3.06 per cent
corresponding month of last year are Petroleum, during October 2017 (as per RBI’s Press Release
Crude & products (34.94%), Electronic goods for the respective months).
(19.2%), Pearls, precious & Semi-precious stones IMPORTS (Payments)
(93.98%), Gold (71.52%), and Machinery, electrical
Imports during November 2017 were valued at
& non-electrical (11.21%).
US $ 9,647 million (Rs. 62572.95 Crore) registering
CRUDE OIL AND NON-OIL IMPORTS: a positive growth of 10.89 per cent in dollar terms
Oil imports during December, 2017 were valued as compared to positive growth of 2.96 per cent
at US $ 10345.88 million which was 34.94 percent during October 2017 (as per RBI’s Press Release
higher than oil imports valued at US $ 7667.01 for the respective months).
million in December 2016. Oil imports during III. TRADE BALANCE
April-December, 2017-18 were valued at US $
MERCHANDISE: The trade deficit for December
76148.85 million which was 24.18 per cent higher
2017 was estimated at US $ 14880.19 million as
than the oil imports of US $ 61319.72 million in the
against the deficit of US $ 10545.99 million during
corresponding period last year.
December 2016.
In this connection it is mentioned that the global
SERVICES: As per RBI’s Press Release dated
Brent prices ($/bbl) have increased by 18.75 % in
15th January 2018, the trade balance in Services
December 2017 vis-à-vis December 2016 as per
(i.e. net export of Services) for November, 2017
World Bank commodity price data (The pink sheet).
was estimated at US $ 5,745 million.
Non-oil imports during December, 2017
OVERALL TRADE BALANCE: Taking
were estimated at US $ 31564.58 million which
merchandise and services together, overall trade
was 17.19 per cent higher than non-oil imports
deficit for April-December 2017-18 is estimated
of US $ 26935.46 million in December, 2016.
at US $ 70063.05 million as compared to US $
Non-oil imports during April-December 2017-
35626.18 million during April-December 2016-17.
18 were valued at US $ 262220.78 million which
(Services data pertains to April-November 2017-18
was 21.07 per cent higher than the level of such
as November 2017 is the latest data available as
imports valued at US $ 216579.60 million in April-
per RBI’s Press Release dated 15th January 2018)
December, 2016-17.
19MERCHANDISE TRADE
EXPORTS & IMPORTS: (US $ Million)
(PROVISIONAL)
DECEMBER APRIL-DECEMBER
EXPORTS (including re-exports)
2016-17 24056.48 199467.14
2017-18 27030.27 223512.58
% Growth 2017-18/ 2016-17 12.36 12.05
IMPORTS
2016-17 34602.47 277899.32
2017-18 41910.46 338369.63
% Growth 2017-18/ 2016-17 21.12 21.76
TRADE BALANCE
2016-17 -10545.99 -78432.18
2017-18 -14880.19 -114857.05
EXPORTS & IMPORTS: (Rs. Crore)
(PROVISIONAL)
DECEMBER APRIL-DECEMBER
EXPORTS (including re-exports)
2016-17 163344.45 1338341.51
2017-18 173648.73 1441419.91
% Growth 2017-18/ 2016-17 6.31 7.70
IMPORTS
2016-17 234952.15 1865151.87
2017-18 269242.54 2182289.84
% Growth 2017-18/ 2016-17 14.59 17.00
TRADE BALANCE
2016-17 -71607.71 -526810.35
2017-18 -95593.82 -740869.94
SERVICES TRADE
EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(Provisional) November 2017
EXPORTS (Receipts) 15392
IMPORTS (Payments) 9647
TRADE BALANCE 5745
EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(Provisional) November 2017
EXPORTS (Receipts) 99836.51
IMPORTS (Payments) 62572.95
TRADE BALANCE 37263.56
Source: RBI Press Release dated 15th January, 2018
20INTEGRATED
REPORTING Shri P.S. KUMAR
Senior Partner, Brahmayya & Co
Integrated Reporting – The origins through the medium of Companies Act, at least in
F inancial reporting is now beginning to find the case of larger companies since the process of
innovations and beginning to move away preparing IR could be costly. This article contains
from a rather prosaic manner of reporting in just a brief description of what IR is and the manner of
numbers comprising the various activities of compiling it.
a company in the traditional manner of annual Journey to Integrated Reporting
reporting. A contributory cause for this is the
The precursor to the initiative by SEBI is the
heightened requirements of corporate governance
Ministry of Corporate Affairs (MCA) guidelines
in management of companies. Further, there has
issued in July 2011 entitled “National Voluntary
been criticism that companies do not capture social
Guidelines On Social, Environmental and Economic
costs such as environmental degradation arising
Responsibilities of Business” also referred to as
out of consuming non-renewable resources such
“sustainability”. Based on it, SEBI had issued
as minerals and fossil fuels. Also, the traditional
circular dated 13th August, 2012 containing
manner of reporting corporate performance does
guidelines on what was called the “Business
not take into account an entity’s ability to continue
Responsibility Report” (BRR).
to stay in business in the face of dwindling
resources. Integrated Reporting (IR) is the answer However, once SEBI had streamlined listing
to these criticisms. It may be noted that IR is a global agreement with stock exchanges and had
initiative and is rapidly gaining acceptance. The notified the “Listing Obligations and Disclosures
International Integrated Reporting Council (‘IIRC’) Agreement, 2015” (LODR) which replaced the
has prescribed Integrated Reporting Framework at listing agreement, the requirements of circular of
the following web link: http://integratedreporting. 13th August, 2012 had now passed on to the LODR
org/wp-content/uploads/2015/03/13-12-08- and were contained in Clause 34(2)(f) of the LODR.
THE-INTERNATIONAL-IR-FRAMEWORK-2-1. Consequently, pursuant to this clause, SEBI issued
pdf circular dated 4th November, 2015. The manner
of reporting and the formats were prescribed
As the name suggests, IR is the combination
by Annexures I and II of the circular. These are
of financial accounting and accounting for social
applicable to the top 500 listed companies. Apart
costs and contexts. In line with the developments
from certain disclosure requirements, the circular
in the rest of the world, Securities and Exchange
prescribed 9 principles around which the report
Board of India (SEBI) has been implementing
had to be built dealing with-
policies and prescriptions in the matter of IR.
Although SEBI operates in the realm of companies (1) Ethical behaviour, bribery and corruption
listed on the Stock Exchanges, one expects IR issues and whether it extends to the Group/Joint
eventually to reach unlisted companies as well Ventures/ Suppliers/Contractors/NGOs /Others;
21(2) List of up to 3 products or services whose are wiser after a century of ruthless exploitation of
design has incorporated social or environmental non-renewable resources, there is a limit to how
concerns, risks and/or opportunities; business entities can keep functioning in a world
where natural resources are dwindling in which
(3) Employee related details category-wise, any
case the word ‘sustainability’ has a micro aspect
complaints received regarding their treatment and
questioning the ability of the entity to continue in
efforts by company in training them;
business. On the other hand, the macro aspect is,
(4) Stakeholder engagement both internal and whether society will permit an entity to continue
external; to pollute the atmosphere and degrade the
(5) The company’s policy on human rights; environment in an irresponsible manner which
brings to question the ability of the entity to continue
(6) Environment;
in business and the potential adverse reactions
(7) Membership of trade bodies and associations of stakeholders. The word ‘shareholders’ is now
and the company’s record of advocacy of replaced by the word ‘stakeholders’ which makes
advancement or improvement of public good; ownership a larger pool of people. Ownership is
(8) Whether the company has specified now not merely legal ownership but is implied in
programmes/initiatives/projects in pursuit of the responsibility of business entities to be mindful
policy related to Principle 7; and of their obligations to various segments including
employees, authorities and even general public at
(9) Customer relations & consumer matters and
large in some cases.
complaints pending, with manner of dealing with
them. Therefore the concept of ‘sustainability’ in
order to make it understandable and to make a
Integrated Reporting – Who should follow?
meaningful statement to the users of annual reports
The next stage in the evolution of reporting
should reflect all of the above. Lest it be mistaken
on responsible corporate behavior is Integrated
as a document solely of good conduct, it goes
Reporting (as already introduced in paragraphs
further than that. IR adds further dimensions to this
1 and 2 above). SEBI issued circular dated 6th
and strengthens the process. The report describes
February 2017 by which reporting on IR has become
how a business entity is able to achieve its own
a voluntary exercise from the financial year 2017-
economic sustainability on the one hand and on
18 covering the top 500 listed companies who are
the other on broader society and environmental
already preparing the BRR. Presumably, those
sustainability.
who do not wish to voluntarily adopt the IR will be
covered by the SEBI circular 4th November, 2015 The IIRC has prescribed the following attributes
and will have to continue to report as per the format to IR as described below:
prescribed. As per the circular, “An Integrated 1. Strategic focus and future orientation: An
Report aims to provide a concise communication integrated report should provide insight into the
about how an organisation’s strategy, governance, organization’s strategy and how it relates to the
performance and prospects create value over organization’s ability to create value in the short,
time. The purpose of Integrated Reporting is to medium and long term, and to its use of and effects
provide shareholders and interested stakeholders on capital;
with relevant information that is useful for making
2. Connectivity of information: An integrated
investment decisions.”
report should show a holistic picture of the
Integrated Reporting – The structure combination, interrelatedness and dependencies
The concept of ‘sustainability’ is not stemming between the factors that affect the organization’s
out of pure idealism, rather it is a matter of ability to create value over time;
enlightened self-interest. As we know now and
223. Stakeholder relationships: An integrated Financial capital
report should provide insight into the nature and
Manufactured capital
quality of the organization’s relationships with
its key stakeholders, including how and to what Intellectual capital
extent the organization understands, takes into Human capital
account and responds to their legitimate needs
Social and relationship capital
and interests;
Natural capital
4. Materiality: An integrated report should
disclose information about matters that Conclusion
substantively affect the organization’s ability to While one can design templates and mass
create value over the short, medium and long term; produce IR, an approach of this kind would only
be self-defeating. In order to make these reports
5. Conciseness: An integrated report should be
more meaningful and, pragmatically speaking,
concise;
in order to get the best value for the efforts put
6. Reliability and completeness: An integrated in, stakeholder engagement can work wonders.
report should include all material matters, both Sustainability and demonstration of ability to
positive and negative, in a balanced way and continue in demanding circumstances will add
without material error; value to an entity in the market place as positive
7. Consistency and comparability: The attributes. Such an engagement will enhance the
information in an integrated report should be entity’s risk management process in a meaningful
presented: (a) on a basis that is consistent over way that resonates with the current realities and will
time; and (b) in a way that enables comparison act as trip-wire in anticipating trends. Stakeholders
with other organizations to the extent it is material such as vendors and customers would prefer to
to the organization’s own ability to create value deal with such an entity. It is recommended that
over time; and one could look at Tata Steels Ltd. annual report for
the year ended 31st March, 2017 for guidance
8. All organizations depend on various forms of
capital for their success. It is important that all such (The views expressed are the author’s and do not
forms of capital are disclosed to stakeholders to necessarily reflect the views of Andhra Chamber of
enable informed investment decision-making. IIRC Commerce.)
has categorized the forms of capital as follows:
23Mind Change or
Mindset Change! M K Anand
M K Anand, Chairman - IT & Telecom
Sub Committee & Co Chairman –
Skill Development Sub Committee,
Andhra Chamber of Commerce
W e have a million problems in the country but
remember, we have Billion minds to solve it.
How to go about in a most pragmatic way? Does it
What are they? Do we have the list? If not Why
Not?
Let us take piece of sheet and pencil to write
require mind change or Mindset Change?
down
I came across the below article from The Asian
Why not we listen to people and do random
Age ‘India needs 10 million entrepreneurs
samplings in every sector be it Agriculture, Trading,
solving problems of a billion people’ an
Finance, Education, Manufacturing sector and the
interview withGururaj Deshpande, Venture
list could be anything included
Capitalist, Entrepreneur - http://www.asianage.
com/technomics/india-needs-10-million- Form a consortium of ‘Think Tank` created in
entrepreneurs- solving-problems-billion- every area/locality where you do the samplings and
people-364 come up with a rationale and compelling solution.
Well, why do I say this in my headline of this
ezine, is because I am also deeply engrained into
this. Being an Honorary Advisor of Startup Cell
at Andhra Chamber of Commerce, I would seek
to understand every aspiring entrepreneurs who
are bouncing ideas to me in some way or other.
I urge the readers to take up this task. It does
not require any financial investment but your little
time, enthusiasm and knowledge to build your city,
town, locality to solve issues confronting and in
the end lay the foundation to solve the Problems
Well, I would urge college students, aspiring of Billion People of this Great Nation. Your active
entrepreneurs and start up geeks to look at involvement is very much required in this Important
the message below so as to potentially create Decade of India’s Prosperity as the New Face of
something incredible for India to leap frog. the world. Are you ready?
5 Simple steps anybody and everybody can (The views expressed are the author’s and
explore, do not necessarily reflect the views of Andhra
Are we ready to really understand the problems Chamber of Commerce.)
of the Billion People in the country?
24You can also read
