Thursday, August 29, 2013

Exporting is highly essential for the Nation’s wealth: Mr. Gourav Anshuman, AGM, ECGCI

The Federation of Andhra Pradesh Chambers of Commerce and Industry organized a Training Program on ‘Export Marketing: Procedure & Documentation’ on August 29, 2013 at Federation House, Red Hills, Hydrabad. Mr. Gourav Anshuman, Asst. General Manager, Export Credit Guarantee Corporation of India Ltd was the Chief Guest for this occasion.

Mr. Shiv Kumar Rungta, Senior Vice President, FAPCCI, Mr. P. Sampath Kumar, Trainer & Consultant, International Trade & Banking, Hyderabad, Mr. V. Anil Reddy, Vice President, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI, Ms. K. Komalavally, Assistant Director General of Foreign Trade, Hyd, Mr. A. Subrahmanyam, Deputy General Manager & Regional Head, Export Import Bank of India, Hyderabad are the key speakers at the training programme.

Mr. Gourav Anshuman said that the exporting profession is highly essential for the Nation’s wealth by bringing foreign currency. Export Marketing Strategy assists small and medium sized businesses in increasing their overseas sales. Export marketing is a key element in every industrial and service organization. The Product, Price, Placement and Promotion will plays a vital role in developing successful export marketing.

SME sector is well-recognized world over owing to its significant contribution in achieving various socio-economic objectives, such as employment generation, contribution to national output and exports, fostering new entrepreneurship and to provide depth to the industrial base of the economy. India has a vibrant SME sector that plays an important role in sustaining economic growth, increasing trade, generating employment and creating new entrepreneurship in India Mr. Anshuman said.  

Mr. P. Sampath Kumar said that the ‘Export Marketing: Procedure & Documentation’ is really a commendable in that sense starting from how to do export business, international trade/documents, Foreign Exchange Management Act, Inco terms, availing finance from banks both for pre and post shipment, availing credit insurance and other export related organizations like ECGC, DGFT, EXIM Bank etc.

Mr. Shiv Kumar Rungta said that the India’s exports surpassed the target of $300 billion for 2011-12 and touched $303.7 billion, despite problems in Europe and the US.  Imports during the year shot up by 32.1 per cent to $488.6 billion, leaving highest-ever trade deficit of $184.9 billion. US and Europe together account for over 65 per cent of the country’s total exports.  Exporting sectors that registered a healthy growth in 2011-12 include engineering, petroleum and its products besides gems and jewellery.  Based on these encouraging numbers, the country has set a merchandise export target of $325 billion for 2013-14. 

Tuesday, August 27, 2013

South Africa is one of the most emerging markets in the World: Mr. Malose Mogale, Acting High Commissioner, South African High Commission

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) and The South African High Commission jointly organized a meeting with High Level Delegation of South African High Commission on August 27, 2013 at Federation House, Red Hills, Hyderabad. Mr. Malose Mogale, Acting High Commissioner, South African High Commission was the chief guest for this occasion. 

Mr. Srinivas Ayyadevara, President, FAPCCI, Mr. Pule Malefane - Consul General - SA Consulate (Mumbai), Mr. Stefanus Botes - Minister Counsellor (Economic), Mr David Wiid, Consul Political, Mr. Ravi Issar, Advisor (Trade & Investment) South African Consulate General, Mr. Rajan Kumar, Business Advisor, South African Consulate General, Mr. Shiv Kumar Rungta, Senior Vice President, FAPCCI, Mr. Akhilesh Mahurkar, Director, FICCI Andhra Pradesh State Council, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations, FAPCCI and Mrs. Vydehi P, Secretary (I/c), FAPCCI has addressed at the meeting. 

Mr. Malose Mogale stated that the South Africa is one of the most sophisticated and promising emerging markets, offering a unique combination of highly developed first world economic infrastructure with a vibrant emerging market economy. South Africa is one of the world’s 26 industrialised nations & 27th largest economy. The country is also regarded as the gateway to Africa. South Africa has the largest economy on the African continent, accounting for approximately 25% of the continent’s GDP. According to the World Bank, South Africa ranked 35th out of 183 in the world for the ease of doing business in 2012. The JSE Securities Exchange is Africa’s largest and most developed Securities Exchange and one of the world’s top 20 exchanges.

South Africa remains the world’s top producer of minerals such as gold, platinum, rhodium, chrome, manganese and vanadium. South Africa holds 80% of global manganese reserves, 72% of chrome, 88% of platinum-group metals (PGMs), 40% of gold and 27% of vanadium. South Africa is ranked #1 for the regulation of securities exchange, strength of auditing & reporting standards by WEF’s Global Competitiveness Report 2011/12. South Africa scored well in various categories according to the 2011/12 WEF’s World Competitiveness Report (138 countries ranked) with overall competitiveness SA ranked 50th in place.

Mr. Srinivas Ayyadevara said in his welcome address. Is that the State of Andhra Pradesh is one of the fastest growing economies in India and became one of the hottest investment destinations among the various investment options in the fast growing emerging economies. The State is ranked 2nd in the country in attracting investments. In a World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business.

Service Tax Voluntary Compliance Encouragement Scheme, 2013

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) along with Department of Central Excise, Customs and Service Tax, Hyderabad Zone has organized a Meeting on Service Tax Voluntary Compliance Encouragement Scheme, 2013 on 26th August, 2013 at Federation House. 

Mr. B.B. Prasad, IRS., Chief Commissioner of Customs, Central Excise & Service Tax, Hyderabad Zone in his address stated that Service Tax  has been introduced since 1994 and Service Tax is major source of income to the Central Government. The Service Tax has evolved and has come to source and it can be hardly ignored. 

To take care of Omissions and Commissions, the Department has come out with the Voluntary Scheme for those who have not paid tax. 

He appealed to the participants to avail the facility and not to ignore this as there will be no chance in near future. 

Ms. Sheila Sangwan, IRS., Member (Budget), Central Board of Excise and Customs (CBEC) in her key note stated that the Service Sector contributes about 65% of the GDP, but the number of Service Tax Payers is quite less. The scheme was launched to bridge this gap and allow defaulting persons and companies to disclose their tax liabilities and file their Service Tax Returns. While there are nearly 17 lakhs registered assessees in Service Tax but only 7 lakhs have been filed the returns. The objective of the Scheme is to encourage disclosure of tax dues and compliance of Service Tax Law by the persons who have not paid Service Tax dues for the period from October, 2007 to December, 2012 either on account of ignorance of law or otherwise. 

VCES is an opportunity for such persons to pay the Tax Dues and come clean. It gives you an amnesty from interest and penalty. 

Presentation on Voluntary Compliance Encouragement Scheme was presented by Mr. G. Shiril Saroj, Deputy Commissioner, (Service Tax Technical) & VCES. 

The presentation was followed by an interactive session.

Mr.  S.N. Saha, IRS., Mr.  M.K. Singh, IRS., Mr.  B. Ravichandran, IRS., Mr. G.V. Krishna Rao, IRS., Commissioner of Customs, Central Excise & Service Tax, Hyderabad-I, II, III and IV Commissionerate, Mr. M. Srinivas, IRS., Commissioner-Appeals I & III, Dr. S.L. Meena, IRS., Commissioner-Appeals II & IV, Mr. K.R.N. Chary, IRS., Additional Director General (Audit),  Customs, Central Excise & Service Tax and  Mr. P.N. Rao, IRS.,  Additional Director General, National Academy of Customs, Excise & Narcotics, Regional Training Institute, Hyderabad attend the meeting along with the Member – CBEC. 

Earlier to this, Mr. Srinivas Ayyadevara, President, FAPCCI in his welcome address requested for extension of Service Tax Voluntary Compliance Encouragement Scheme, 2013 even to cases where proceedings/investigation/audit have been initiated but not yet adjudicated and to Returns filed.

Mr. S. Thirumalai, Senior Advisor, Deloitte Touche Tohmatsu India Pvt.Ltd., and Advisor, Indirect Taxes Committee, FAPCCI in his introductory remarks stated that, having provided the need for industry and trade to evaluate all past positions and views taken in the context of service tax let me place for consideration a few aspects that may arise in the context of implementation of the VCES which perhaps may be essential for the success of the scheme. Industry estimates show that the VCES if adequately marketed by all stake holders could fetch about 10% of the service tax collections estimated for FY 2014. The scheme should therefore garner on a conservative basis about Rs 10,000 crore at the All India level.

The first and foremost would be the confidence infused in the trade and industry with respect to the early filers under the VCES and the acceptance in terms of form VCES- 2 by the Department within the period of seven working days from the date of receipt of the declaration as per Rule 5 of the VCES Rules, 2013. If this process gets elongated for roving enquiries relating to the past even at the stage of acceptance in VCES- 2 then this could dampen the other prospective filers. Evidence of this time lag has already surfaced and this should be addressed.

Mr. Meela Jayadev, Chairman, Indirect Taxes Committee, FAPCCI introduced the Member- CBEC and Chief Commissioner of Customs, Central Excise and Service Tax. 

The Meeting ended with Vote of Thanks by Mr. Shiv Kumar Gupta, Co- Chairman, Indirect Taxes Committee.

Saturday, August 24, 2013

Training Program ‘Export Marketing: Procedure & Documentation’ from 29

FAPCCI is organizing a 3-day Training Program on ‘Export Marketing: Procedure & Documentation’ from 29th to 31st August, 2013 between 10.00 a.m. to 5.00 p.m. at Surana Udyog Auditorium, Federation House, Hyderabad.

The objective of the program is to present an overview on the different areas relating to export/import and the program is for the entrepreneurs, who are successful in their local market and to identify the capacity to export.

The program includes the sessions on Marketing Opportunities in 21st Century, Starting Export & Import Business- Licenses & Approvals, Methods of Realizing Payments & Payments Transaction under Letter of Credit, Concept of Digital Signature and e-filing, Foreign Exchange Management Act and regulation covering export transaction, Currency Risk Management in International Trade, Pre-Shipment & Post Ship Finance for Exporters, Commercial Documents in International Trade, Regulatory Documents in International Trade, Understanding Incoterms 2010, Foreign Trade Policy 2009-14, Duty Drawback – Claims Procedure, etc.

Eminent Speakers and Officials from Joint Director General of Foreign Trade, Export Credit Guarantee Corporation of India Ltd., Central Excise & Customs, Reserve Bank of India and representatives of reputed institutions are being invited to participate and lead the sessions.  

For more information & registration interested persons can contact Mr. R. Kulkarni, Joint Director on 98482 86640, 80085 79625 at the earliest.

Tuesday, August 20, 2013

India – Indonesia bilateral trade targeted to reach US $45 billion by 2015

The Consulate General of the Republic of Indonesia, Mumbai and The Federation of Andhra Pradesh Chambers of Commerce & Industry (FAPCCI) organized an Investment Promotion Forum on Regional Potential Investment Opportunities in Indonesia on August 20, 2013 at Federation House, Red Hills, Hyderabad. Mr. Hariyanta Soetarto, Consul & Head of Chancery, Consulate General of the Republic of Indonesia was the chief guest for this occasion.

Mr. Hariyanta Soetarto said that the Indonesia and India enjoy better bilateral trade relations. Implementation of ASEAN-India Free Trade Agreement (AIFTA) has contributed to increase the trade relations between the two nations. The bilateral trade between Indonesia and India has reached to US $16.80 billion in the year 2012 which has resulted to set a target of US $45 billion for the year 2015. This is a tremendous achievement if we compare the figure of the year 2004 when the bilateral trade figures reached only up to US $4.5 billion.

To expedite the process of sustainable economic growth, the Indonesian Government in recent has developed and implemented Master-plan for the Acceleration and Expansion of Indonesia Economic Development and to transform Indonesia into one of the 10 major economies in the world by 2025 with 22 promising sectors been identified to boost economic development throughout the nation. The identified sectors are such as Shipping, Textiles, Food and beverages, Steel, Defence equipment, Palm oil, Rubber, Cocoa, Animal husbandry, Timber, Oil and gas, Coal, Nickel, Copper, Bauxite, Fisheries, Tourism, Food and agriculture, The Jabodetabek Area, The Sunda Straits Strategic Area, Transportation Equipment and Information and communication technology (ICT) etc. Foreign Investors are welcome to choose their desired sectors and preferred regions according to their business interest.

It contemplates a high degree of cooperation between the central government, local governments of Sumatra, Java, Kalimantan, Sulawesi, Bali – Nusa Tenggara, Papua – Maluku Islands owned enterprises, and the private sector. The Government will act as a regulator, a facilitator and a catalyst to support economic growth and will provide fiscal and non-fiscal incentives. The private sector will be given a major role in economic development, particularly in the area of infrastructure Mr. Hariyanta Soetarto said.

I also avail this opportunity to invite you all to the forthcoming major investment event titled “Jakarta Investment Expo 2013”  also called as JAKVEST 2013 will be held at Tangerang, Indonesia for the period from October 21-23, 2013.  To attract investors, particularly those from overseas the Association of Provincial Investment Agency (AIPMP) with support of the Indonesian Provincial Investment Agencies will be organizing this major event. The forum Jakvest is expected to provide prospective investors with information about the city's investment potentials. The event will feature Investment & Business Forum, Investment Exhibition of Potential and Excellent Products Province and Region, Forum Dialogue among Regional Investment Agencies, One on One Business Meeting and site visit. So please do not miss the opportunity but make sure that you all will definitely visit the Jakarta Investment Expo 2013 “Your Gateway for the Next Stop Investment”.

Mr. Srinivas Ayyadevara said in his welcome address is that the India and Indonesia are increasingly seen as emerging Asian economies, and have undergone massive economic reforms in the past two decades. Strong economic fundamentals with a robust financial sector and manufacturing industry have positioned them among the top five investment destinations in Asia.

The bilateral trade between India and Indonesia is expected to grow to $ 45 billion by 2015 from $ 20 billion.  The availability of huge natural resources, including thermal coal has attracted several Indian power companies.  Coal accounts for over half of India’s total energy generation. More than 50 per cent of India’s domestic coal production is utilized for power generation while three-quarters of India’s electricity is generated from more than 80 coal-fired thermal plants.  The close proximity of Indonesia to India compared to other source countries gives it a freight advantage and we can look for mining rights and even joint ventures with the Indonesian counterparts for securing long term supplies of coal.

India is the largest buyer of crude palm oil from Indonesia.  At present, India exports refined petroleum products, wheat, rice, sugar and steel to Indonesia. India’s imports stood at $ 11 billion, primarily based on natural resources such as coal, crude palm oil, wood, rubber and furniture.  There are more than 100,000 Indonesians of Indian origin in Indonesia and around 9,000 Indian nationals living in Indonesia.

Mr. V. Anil Reddy, Vice President, FAPCCI, Mr. Abdul Hanan, Head of Sub Directorate Sumatera and Kalimantan Regions, Directorate of Regional Promotions, Indonesia Investment Coordinating Board, Drs. Danang W. Jati, Head of Indonesian Investment Coordinating Board, Mr. Diddy Rusdiansyah, Head of Licensing and Investment Coordination Board of East Kalimantan Province and Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI, Mrs. Vydehi P, Secretary (I/c), FAPCCI also spoke at the session. 

Saturday, August 17, 2013

Open Forum on “Investment Opportunities in Indonesia” on August 20, 2013 at FAPCCI-

The Consulate General of the Republic of Indonesia, Mumbai in association with FAPCCI is organizing an Investment Promotion Forum on “Regional Potential Investment Opportunities in Indonesia” on 20th August, 2013 at 3.00 p.m. at Surana Udyog Auditorium, Federation House, Hyderabad.  The meeting will be followed by one-to-one business meetings.

The aim of the Investment Promotion Forum is to invite the Indian business entrepreneurs to explore investment opportunities in West Sumatra and East Kalimantan Provinces in Indonesia.

The two provincial investment coordinating boards from Indonesia will promote the sectors like Geothermal Energy, Hydropower Energy, Road/Railway Infrastructure, Agro Industry, Timber Estate,Pulp and Paper, Medium Density Fibre Board, Oil Palm Plantation, Coal Mining to the potential Indian investors.
Senior Officials from Indonesian Investment Coordinating Board (BKPM), West Sumatra Provincial Investment Coordinating Board, East Kalimantan Provincial Investment Coordinating Board and Consulate General of Indonesia will be addressing the meeting.

Industrialists and Entrepreneurs are welcome to participate in the meeting.  For more information & registration interested persons can contact Mr. R. Kulkarni, Joint Director, FAPCCI on 8008579625 at the earliest. There is no Participation Fee, but prior registration is compulsory to make necessary arrangements.

Thursday, August 15, 2013

67th Independence Day Celebrations at FAPCCI

 The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has celebrated 67th Independence Day celebrations at FAPCCI at 8.00am today. Mr. Srinivas Ayyadevara, President, FAPCCI has Hoisted the Flag. Dr. Ashok Kumar Kedia, Chairman, HR Committee, FAPCCI, Mr. V.S. Raju, Past President, Managing Committee members of FAPCCI and Mrs. Vydehi.P, Secretary (I/c) and FAPCCI other officers, staff have also participated at the celebrations.

 Mr. Srinivas Ayyadevara while speaking on this occasion - emphasized that unity in diversity is the strength of Indian Nation, while undergoing difficult testing times of the country could come out with flying colors, and show to the whole world about the democratic strength of India.

On behalf of FAPCCI he also congratulated all the Army and Police Medal awardees of the Nation.