MCCI
The Madras Chamber
MONTHLY REPORT february 2021
The Madras Chamber of Commerce & Industry
MCCI
MONTHLY REPORT - February 2021
The Madras Chamber
SCHEDULE OF VIRTUAL PROGRAMS - FEBRUARY 2021
1 3 5 7 9
1st February 2021
2
Telecast cum discussion on Union Budget
5th February 2021
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7th Trade Meet - MCCI & Kamarajar Port Ltd.
9th February 2021
6
FAQs on the Corporate Social Responsibility (CSR) Policy under the Companies Amendment Rules 2021
11th February 2021
8
Session on Incoterms 2020 to M/s Rhurpumpem India Pvt. Ltd.
18th February 2021
10
Session on Independent Directors Law and the Reality
General Commi�ee Mee�ng
3rd February 2021 Workshop on Union Budget 2021 - 22
6th February 2021 Seminar on Demys�fying and Enhancing Awareness on Covid-19 Vaccines
11th February 2021 The Advance on Costs in Arbitra�on: Reimbursement of Subs�tuted Payment
12th February 2021
Session on Export Packaging & Shipping Documenta�on to M/s Rhurpumpen India Pvt. Ltd.
27th February 2021
Seminar on Drones, A Ubiquitous Reality– Applica�ons, Policies and Trends” Jointly with WITT
Expert Commi�ee Mee�ng
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
1
1st February 2021
Telecast cum discussion on Union Budget
The budget telecast was virtual this year due to the pandemic. The members of the General Commi�ee and a few select members totaling 20 members watched the session together and shared their sugges�ons. A press release was issued and there was a wide coverage in the media.
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3rd February 2021
Workshop on Union Budget 2021 - 22
The Flagship ac�vity of the Chamber, the workshop on union Budget 2020-21 was organized virtually following the release of the Union Budget on 1st February 2021 by the Finance Minister, Government of India Mr. Srivats Ram, President MCCI welcomed the delegates and highlighted the key features of the budget. Dr. Ajit Ranade, Group Execu�ve President & Group Chief Economist, Aditya Birla Group gave the key note address. He apprised the background of our economy before the pandemic situa�on in terms of 4 macro indicators namely GDP growth trend, export growth trend, Investment to GDP ra�o and health of banking sector in terms of NPA ra�o. He informed though the economy was not flourishing before the pandemic, we had the inflow of foreign fund. Then in the current pandemic, the country had to face the demand shock, wealth shock and supplier shock. A�er the lock down was li�ed there has been only a slight recovery in terms of demand recovery. He added that this budget was presented a�er a recession. Unemployment is the biggest problem which has to be addressed. He added that the primary goal of the budget is to inject the level of confidence primarily to business and to consumer. The 4 themes of the budget he pointed out were 1) Fiscal s�mulus in terms of fiscally expansive budget 2) Priva�za�on 3) No Fear of ra�ng agencies 4) health care & educa�on spending. He also highlighted about the agriculture sector and its growth during the pandemic. Mr. K. Vaitheeswaran Chairman, MCCI Expert Commi�ee on GST & Advocate and Tax Consultant made a very detailed presenta�on on the Budget Analysis on Indirect Taxes and GST.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
Mr. Vikram Vijayaraghavan, Co Chairman, MCCI Expert Commi�ee on Direct Taxes & Advocate Subbaraya Aiyar Padmanabhan & Ramamani (SAPR) Advocates made a detailed presenta�on on Budget Analysis on Direct Tax supported by Mr.Aravind Srivatsan Chairman, MCCI Expert Commi�ee on Direct Tax & Partner, Nangia Andersen Co. LLP. Mr. Sriram Seshadri, GC Member, Partner, Price Waterhouse &Co. LLP summed up the tax provisions. Dr. M.R. Venkatesh, Designated Partner, Agastya Legal LLP, gave a brief overview of the economic impact of the budget. Mr. T.R. Kesavan,Vice President, MCCI ,Group President (Corporate Rela�ons & Alliances) TAFE Ltd. proposed the formal vote of thanks. The Program was well a�ended by more than 100 delegates across industries and the feedback was posi�ve.
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5th February 2021
7th Trade Meet - MCCI & Kamarajar Port Ltd. The Madras Chamber, jointly with Kamarajar Port, organized the 7th Trade Meet on 5th February 2021 at Hotel Raintree, Anna Salai. The objec�ve of the Trade Meets was to facilitate interac�on between the port authori�es, regulators and the port users including the EXIM businesses. This provided a pla�orm to understand the facili�es and services offered by the Kamarajar Port and also to convey to the officials the needs and expecta�ons from the trade, with the ul�mate aim of enhancing EXIM trade. This was the first physical mee�ng a�er the pandemic. Mr. Srivats Ram, President, MCCI gave the welcome address. He highlighted about the Kamarajar port ac�vi�es and the measures taken by DGFT during pandemic. He also informed about chamber ac�vi�es related to logis�cs.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
Mr. Sunil Paliwal IAS, Chairman & MD, Kamarajar Port gave the special address. He informed that the Kamarajar port at Ennore in North Chennai has the poten�al to be an eastern gateway of the country and the port is significantly improving the infrastructure, including roads.He added that though it is difficult to reach the port beyond Vallur, work is in progress to improve the road connec�vity and concrete road is being laid at their cost of ₹195 crore �ll the port. This will be ready by June 2022. Further, the Northern Port Access Road (NPAR) it is being done under Japan Interna�onal Coopera�on Agency (JICA) which is expected to be completed by March 2024. Pertaining to Rail connec�vity, he said they were improving and doubling the system and the long term vision is for northern rail connec�vity. Ms Initha , Jt. Director General of Foreign Trade(DGFT), Chennai gave the Inaugural Address and stated that Government of India clearly recognizes the port and logis�cs sector in the march of 5 trillion economy. She informed that the Logis�cs sector it’s mul�faceted and mul�ple agencies are involved in state and central ecosystem. The main challenge is to bridge the gap and to improvise on speed. The other micro level issues which were highlighted includes development of infrastructure, Joint IT system, sub op�mal use of infrastructure and complex regulatory environment. She informed that the government mantra is resilience, sustainability and innova�on. Further the wider level solu�on is to bring connec�vity, crea�ng robust ecosystem and other trade protocols. At port level, enhancing infrastructure at port, providing futurist’s solu�on in reducing conges�on, increasing evacua�on in port and reducing cost and �me for stake holders will be the ul�mate goal. She further briefed about the DGFT ini�a�ve program on district export hub, wherein the aim is to make every district in India as an export Hub transforming into industrial hub. It is launched in partnership with state government in line with the vocal for local to go global. She shared that the important milestone is the digitaliza�on measures being taken at DGTF to create a one stop login for all customer and trade where all schemes are brought into one unified IT umbrella. Followed by Ms. Initha’s address Mr. A. Karuppiah, Chief Manager (Traffic), Kamarajar Port Ltd. made a detailed presenta�on about the facili�es in KPL. In the Session on Salient Features – Post Pandemic Facilita�on Measures – The Way Forward the following made presenta�ons. Mr. Jai Kurana,CEO Adani Ennore Container Terminal and Mr R.Rajkumar, Associate General Manager – Business Development, Adani Ka�upalli Port Pvt. Ltd & Adani Ennore Container Terminal Pvt Ltd made a detailed presenta�on on Container Terminal . Mr. Devki Nandan, Sr.VP & Head- BD & M& A, JSW Infrastructure made a presenta�on on Break Bulk – Project Cargo A�er the presenta�on, there was an interac�ve open house session. Mr.Udayabhaskar Reddy, Chairman, MCCI Logis�cs Commi�ee, proposed the vote of thanks. There were more than 80+ par�cipants who took part in the Trade Meet and the feedback was posi�ve.
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6th February 2021
Seminar on Demys�fying and Enhancing Awareness on Covid-19 Vaccines
The COVID vaccine was launched in India on 16th January, 2021. The first group to be vaccinated included healthcare and frontline workers. The second group to receive COVID 19 vaccine were iden�fied as persons over 50 years of age and persons under 50 years with comorbid condi�ons. Under the auspices of Health care council, the Chamber jointly with Water falls Ins�tute of Technology Transfer (WITT) organized the seminar to understand the about the myths and reality of vaccines.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
Mr. P V Jaishankar, Chairman, WITT gave the welcome address. Ms, Jayanthi, WITT anchored the webinar. Dr. S. Manivannan, Founder & Managing Director, Kauvery Hospitals and GC Member, gave the opening remarks and set the tone for the seminar. He shared his experiences in Kauvery Hospital about treatment for covid pa�ents which was challenging. He added that the due to the pro-ac�ve measures taken by the state and central government, our country was able to control the spread of covid and the mortality rates. He stated that the prime agenda of the country is healthcare and the Indian vaccine produc�on and public health systems are good. He requested the medical community to spread the importance of vaccine and to improve the confidence and morale of the community to build a stronger ecosystem. Padma Shri Dr Sneh Bhargava, former Director, AIIMS, New Delhi rendered the Keynote address. In her address, she stressed on the protocol to be followed to prevent covid, namely, social distancing, washing the hands and using masks. She added that we should remember the 3Cs, avoiding close contact, close environment and crowded places. As the behavior of the virus is unpredictable, she informed that the every one of us have the moral responsibility for maintaining our health and that of the na�on. She elaborated about the virus, our immune system, the vaccine and the dosage. In the technical sessions that followed, the following experts addressed about the myths and reality of Vaccine drive in India. • Dr Srikant Tripathy, Director-Medical Research, Dr. D.Y. Pa�l Medical College ,Hospital & Research Centre, Pune and former Director, ICMR • Dr Prasad Kulkarni, Execu�ve Director, Serum Ins�tute of India • Dr Ni�n Bansal, Consultant - Infec�ous Diseases at ICMR and Head of Covid Unit at RGCI, New Delhi • Dr K S Kardam, former Jt. Controller-General of Patents The topics covered in the session included:• Requirements & Standards of a Vaccine for Covid19 • Roll-out of the Vaccine (with focus on the Clinical Trials phases) • Serological Measurements and Analysis in the Covid19 context • IP Protec�on aspects and the Indian Government viewpoint
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
Followed by the presenta�on, the panel discussion was moderated by Dr K V Swaminathan, former Chairman, Rajiv Gandhi Cancer Ins�tute and Advisor (retd.), DST, GoI. Ms. Jayanthi moderated the Q&A session. Ms. K. Saraswathi, Secretary General of the Chamber proposed the formal vote of thanks. More than 60+ par�cipants a�ended the session and the feedback was posi�ve.
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9th February 2021
FAQs on the Corporate Social Responsibility (CSR) Policy under the Companies Amendment Rules 2021
The Ministry of Corporate Affairs released a new order no�fying the amendments in the CSR rules for companies. These rules are called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. In order to understand the no�fica�on and the amendments, the Madras Chamber, under the auspices of the Company Law & CSR Commi�ee jointly organized a Virtual “FAQs on the Corporate Social Responsibility (CSR) Policy under the Companies Amendment Rules 2021” on Tuesday, 9th February 2021. Ms. K. Saraswathi, Secretary General welcomed the resource persons and the par�cipants. Dr.Ravi, Chairman of the Company Law with the support of Ms. Ms. B.Chandra, Co Chair of the Company Law Commi�ee had compiled all possible ques�ons and the session was held in a Q and A mode. Dr. Ravi raised the ques�ons and Ms.Chandra answered the queries. Both of them clarified the doubts raised in the Q and A session. Ms Rajashree, Chairperson of the CSR commi�ee proposed the vote of thanks. We had more than 90+ par�cipants in the session and the feedback was very posi�ve as the mode of this session was very much appreciated.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
6
11th February 2021
Arbitra�on Series on The Advance on Costs in Arbitra�on: Reimbursement of Subs�tuted Payment The Chamber organized the th 6 Arbitra�on Series under the MCCI Arbitra�on, Media�on and Concilia�on Centre (MAMC) on 11th Feb 2021. Mr.Thomas Williams, Barrister UK, Partner, Dispute Resolu�on and Arbitra�on, Sultan Al Abdulla and Partners Qatar addressed on the topic “The Advance on Costs in Arbitra�on: Reimbursement of subs�tuted payment” with the latest case studies. Ms. Madhumathi. C, Registrar of Arbitra�on Centre gave a brief introduc�on about the Chamber and the Arbitra�on Centre and introduced the speaker.
Mr.Thomas Williams addressed whether a claimant who has made a subs�tute payment of the advance is en�tled to immediate reimbursement from the respondent, and whether the decision should take the form of a procedural order or an award. He stated that the introduc�on of explicit provisions in legisla�on or ins�tu�onal rules may reduce the uncertainty and the number of cases in which a party chooses not to pay its share of the advance without legi�mate reasons. In the Q & A session Ms. Madhri Guruswamy , Advocate, T S Gopalan & Co. moderated the session and the queries of the par�cipants were clarified by Mr.Thomas Williams. Ms. K.Saraswathi, Secretary General, proposed the vote of thanks. There were more than 28 par�cipants who took part in the webinar and the feedback was posi�ve.
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11th February 2021
Session on Incoterms 2020 to M/s Ruhrpumpen India Pvt. Ltd.
The Chamber organized an exclusive session for one of the esteemed members, Rhurpumpen India Pvt.Ltd. at their request. Mr. J.Krishnan, Partner, S. Natesa Iyer and Co. and GC member made a detailed presenta�on on Incoterms 2020. More than 25 employees of the company took part in the interac�ve session and the feedback was posi�ve.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
8
12th February 2021
Session on Export Packaging & Shipping Documenta�on to M/s Ruhrpumpen India Pvt. Ltd.
The Chamber organized the second Training session on Export Packaging & Shipping Documenta�on for Ruhrpumpen India Pvt. Ltd . Mr.G.B.Reddy, Re�red Joint Director, Indian Ins�tute of Packaging handled the session on Export packaging and Mr.J.Krishnan, Partner, S. Natesa Iyer and Co. and GC member handled the session on Shipping Documenta�on. More than 20 par�cipants a�ended the session and the feedback was good.
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18th February 2021
Session on Independent Directors - Law and the Reality
The Chamber under the auspices of the Company Law Commi�ee organized the Session on "Independent Directors - Law And The Reality" on 18th February 2021. Ms. K. Saraswathi, Secretary General gave the welcome remarks and introduced the speakers . Dr B Ravi, Chairman of the company law commi�ee set the context for the session. Dr.V. Gopalan Chartered Accountant, Gopalan & Associates made a detailed presenta�on covering the law and its ni�y-gri�es. Mr. V. Ranganathan Advisor, E & Y in his address covered the essen�al requirements and the real �me challenges. Dr.B.Ravi, Chairman, Company Law Commi�ee compiled a few ques�ons and moderated the Q and A session wherein both the experts answered the queries Ms. K. Saraswathi, Secretary General, proposed the vote of thanks. There were more than 80+ par�cipants who took part in the webinar and the feedback was very posi�ve.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
10
27th February 2021
Seminar on Drones, A Ubiquitous Reality - Applica�ons, Policies and Trends
The Indian Ministry of Civil Avia�on (“MoCA”) on June 02, 2020 introduced the dra� Unmanned Aircra� System Rules, 2020 (“Dra� UAS Rules”). We are aware that the drones can be used for Urban development, Transport, Agriculture, Disaster Management and Mining. In order to understand the regulatory framework and its use case applica�on , the Chamber, under the auspices of the Logis�cs and Agriculture commi�ees jointly with Waterfalls Ins�tute of Technology Transfer (WITT) organized a seminar on “ Drones Regula�ons and Applica�ons in India '' on 27th February 2021. Mr.P V Jaishankar, Chairman, WITT gave the welcome remarks. Mr.Srivats Ram, President, MCCI gave the opening remarks and briefed about the Chamber ac�vi�es and covered the overview of the drone evolu�on in India. Mr Pankaj Kumar Singh, IPS, Addl. Director General, BSF (Eastern Command) rendered the key note address. He presented a detailed presenta�on on 1. 2. 3. 4. 5.
Regula�ons/Policies on usage of Drones Applica�on in Law & Order Threats from Drones today The Drones of tomorrow An�-drone systems
Dr Renu Singh Parmar, IES ,Former Advisor, Ministry of Civil Avia�on & Independent Economist gave a special remarks highligh�ng the evolving technology, Licensing of drone operators and how we should facilitate its use and prevent its use for any destruc�ve purpose that would be against the na�onal interests. Prof. Sunetra Sarkar, Dept. of Aerospace Engg., IIT-Madras addressed on the Aerodynamics of Drones and Future Challenges. Prof. HSN Murthy, Dept. of Aerospace Engg., IIT-Madras addressed on the Poten�al Disrup�ve Technologies in Unmanned Aerial Systems and Mr. N Ramanathan, Director & CEO, Dhaksha Unmanned Systems Pvt. Ltd. dealt with the use case of drones in the Agriculture sector. Mr. U Udayabhaskar Reddy, Chairman, MCCI Expert Commi�ee on Logis�cs moderated the Q&A session. Mr. T R Kesavan, Vice President, MCCI proposed the formal vote of thanks. There were more than 80+ par�cipants who took part in the seminar and the feedback was posi�ve.
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MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
Commi�ee Mee�ngs: •
General Commi�ee Mee�ng on 13th February 2021
•
Energy Commi�ee Mee�ng on 24th February 2021
Other Mee�ngs: •
Post Budget memorandum representa�on was presented to Hon’ble Finance Minister Smt Nirmala Sitha raman by Mr Srivats Ram ,President MCCI on 19th February 2021
• Discussion on Dra� Fintech Policy with Mr Muruganandam, IAS, Principal Secretary to Government on 23rd February 2021 •
Discussion on Migrant Labour Study on 24th February 2021
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