MCCI
The Madras Chamber
MONTHLY REPORT March 2021
The Madras Chamber of Commerce & Industry
MCCI
MONTHLY REPORT - March 2021
The Madras Chamber
SCHEDULE OF VIRTUAL PROGRAMS - MARCH 2021
1 3
4th March 2021
13th March 2021
MAMC Arbitra�on webinar series on Issues in Interna�onal Arbitra�on
Launch of MCCI Women Business Council (WBC)
19th March 2021
27th March 2021
Training Program on Income Tax Structure for a Member company – Ruhrpumpen India Pvt. Ltd.
Panel discussion on Psychological impact of working from home
General Commi�ee Mee�ng
2 4
Expert Commi�ee Mee�ng
1
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
1
4th March 2021 MAMC Arbitra�on webinar series on Issues in Interna�onal Arbitra�on Under the auspices of the MCCI Arbitra�on,
Media�on
and
Concilia�on Centre (MAMC) the Chamber organized the Seventh Arbitra�on web series on the topic Issues in Interna�onal Arbitra�on
on
Thursday,
4 March 2021. th
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. N.Venkataraman, Senior Advocate, Addi�onal Solicitor General, New Delhi addressed the session. His address covered the percep�on and reality in the interna�onal arbitra�on. He cited that over the past few years, interna�onal arbitra�on has grown to become one of the preferred dispute resolu�on mechanisms for interna�onal contracts and investments. The key factors favoring the interna�onal arbitra�on include the following: (1) the choice of law governing the substance of the dispute (2) the choice of the seat of arbitra�on (3) the choice of the arbitra�on ins�tu�on (4) the appointment of arbitrators (5) the confiden�ality of proceedings (6) the overall cost and delay (7) the flexibility offered by interna�onal arbitra�on He added that the current trends in interna�onal arbitra�on are partly driven by global financial pressures. The speakers iden�fied several challenges to the legi�macy of interna�onal arbitra�on, including issues regarding the decision-makers, the conduct of counsel, the efficiency of the proceedings, and domes�c court oversight, among others. 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. N.Venkataraman. Ms. K.Saraswathi, Secretary General, proposed the vote of thanks. The Program was well a�ended by more than 50 par�cipants and the feedback was posi�ve.
2
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
2
13th March 2021
Launch of MCCI Women Business Council (WBC)
Ms. K. Saraswathi, Secretary General gave the Welcome Address. Mr. Srivats Ram, President, MCCI & Managing Director, Wheels India Ltd. gave the opening Remarks. He briefed about the various ini�a�ves of chamber and highlighted the need for WBC. and informed that this council would contribute towards gender accelera�on through learning and development and through handholding and mentoring women to break the barriers.
3
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
Ms. Bhavani Balasubramanian, Chairperson, Women Business Council & Chief Strategist -Diversity Evalua�on, AVTAR presented the Overview & Objec�ves of Women Business Council. and introduced the members of the council. Ms. Mallika Srinivasan, Chairman & Managing Director, TAFE Ltd. was the Chief Guest . She stated that in Tamil Nadu and par�cularly south Indian corporate have been encouraging gender diversity, which has set the tone “to make this region the benchmark in terms of a progressive environment for corporate success for women”. She added that during pandemic and prior to pandemic, we saw an outstanding example of women from all strata of society demonstra�ng courage and convic�on in achieving their goals. Corporate today look at diversity as something that brings to the workplace competency and compe��ve enhancement. She urged women in corporate India to focus on goals and not boundaries to make the glass ceiling as a concept, disappear. Despite some progressive policies and measures, the choices for women in the workforce remain somewhat restricted by social ethos and corporate cultural context. She emphasized on se�ng up clear goals, being confident and self-assured, having family members or partners on board, mee�ng the social and family commitments and being resourcefulness and leading a wholesome life. She felt that ini�a�ves such as independent women directors are progressive and effec�ve benchmarking prac�ce. She also stressed on reskilling to keep up with the changing business environment. She welcomed the ini�a�ve of MCCI to form Women Business Council (WBC), which comprises women who have demonstrated some outstanding professional exper�se and entrepreneurial ability. Followed by the address, the Chief Guest Virtually launched the Women Business Council Logo. Ms K Saraswathi elaborated on the ra�onale of the logo of WBC. In the Q & A session Ms. Madhri Guruswamy ,Co-Chair, Women Business Council & Advocate, T.S. Gopalan & Co. moderated the session. Ms. Madhri Guruswamy proposed the vote of thanks. More than 150 par�cipants took part in the virtual Launch of WBC and the feedback was posi�ve.
4
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
3
19th March 2021 Training Program on Income Tax Structure for a Member company – Ruhrpumpen India Pvt. Ltd
The Chamber organized an exclusive training program for 2.30 hours on Income Tax Structure covering Individuals and Corporate for 90+ employees of RuhRPumpen India Pvt Ltd, one of the esteemed members. Mr. M Viswanathan, Partner, R Subramanian & CO LLPand Mr. Shivam Davey, Tax Manager, R Subramanian & CO LLP addressed the session. Presenta�on on Income Tax Structure covering Individuals covered the following topics:•
Income Tax Slab rates for Individuals under old regime and new regime
•
The exemp�ons and deduc�ons available under the new regime
•
Some important deduc�ons for Income from Salary, House Property and Income from Capital Gains and gross total income on account of various tax-saving investments, permi�ed expenditures and dona�ons
•
Relevant Budget amendments applicable from FY 21-22 onwards
Presenta�on on Corporate Taxa�on covered the following topics:•
Income Tax rates for companies for the FY 2021-22 AY 2022-23
•
Sec�on 115 BAA new ordinance of taxa�on for companies
•
TDS
•
Deduc�ons available to companies
•
Important budget amendments affec�ng companies
•
Note on E proceedings Tab
•
Important sec�ons applicable to companies
This was the third exclusive training program being organized for Ruhrpumpen India Pvt. Ltd. and the feedback was posi�ve.
5
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
4
27th March 2021 Panel discussion on “Psychological impact of working from home"
The Chamber under the auspices of HR & IR Expert Commi�ee organized a virtual Panel discussion on “Psychological impact of working from home" on Saturday, 27th March, 2021. The following speakers addressed the session: •
Mr Alex Mathew,
•
Ms.Uma Rao,
•
Mr.Shashikanth Jayaraman,
Mr Alex Mathew, Vice President and Head of HR (Max and Easybuy), Land Mark Group addressed on the impact of Work from home in large organiza�ons. He highlighted about the 4 important factors that’s brings in sa�sfac�on in WFH namely the individual , the Job ,the organiza�onal culture /Manager and home environment. He further informed WFH has both posi�ve and nega�ve impact and shared few �ps to HR’s to do to reduce the emo�onal stress in the organiza�ons. Ms.Uma Rao, Head HR - M&HCV, Ashok Leyland Ltd. shared the real �me experience of how Ashok Leyland a manufacturing company could make the WFH possible .She informed changing the system was difficult ini�ally but IT team made it possible. SOPs were set in place and change was bigger than expected. Employees were trained and hybrid model of working was implemented. She emphasized on being equitable and few measures followed were policy strengthening and gender diversity inclusion and it was more posi�ve than nega�ve. Mr.Shashikanth Jayaraman, Vice President - Human Resources, Mul�coreWare Inc., addressed on the psychological issues faced by employees in IT organiza�on. He shared few examples about how appraisal, career conversa�on are being done virtually and highlighted the real challenge is keeping employee engagement in the WFH op�on. Finally, he informed that the width of the ac�vi�es has increased, but the depth of work have to be analyzed. In the Q & A session Mr Shyam Sundar, Chairman, HR & IR Expert commi�ee moderated the session. Ms. K.Saraswathi, Secretary General proposed the vote of thanks. More than 28 par�cipants a�ended the panel discussion and the feedback was posi�ve.
6
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
Other Mee�ngs Interactive meeting with representatives of British Deputy High Commission on 2nd March 2021 at MCCI Premises The Chamber had an interac�ve mee�ng with Mr Oliver Ballhatchet MBE, Bri�sh Deputy High Commissioner, Chennai and Mr Niall, Cluster Manager, Space, Aerospace, Automo�ve, Advanced Engineering and the Midlands Engine at the MCCI office premises. Mr Sujith Thomas ,Head - Automo�ve and Advanced Manufacturing Sector (AESC), India ,Department for Interna�onal Trade ,Bri�sh Deputy High Commission organized this mee�ng. Mr. Srivats Ram, President of the Chamber and Ms.K.Saraswathi, Secretary General represented the Chamber. A broad spectrum of subjects such as automobile, green energy and fintech were covered during the discussions. There were discussions to link fintech companies in London to Chennai offices which can be a back office. Mr. Oliver Balalhatchet expressed interest for funding a green ini�a�ve and sought Chamber’s support in iden�fying good opportuni�es.
Meeting of Consultative Committee of the City Chambers of Commerce (CCCCC) to discuss issues relating to eCoO held on 9th March 2021 at MCCI premises The DGFT have come up with a circular regarding developing a common electronic pla�orm for Non-Preferen�al Cer�ficate of Origin (CoO) and to implement the same with effect from 1st April 2021. In order to get a be�er understanding of the DGFT proposal, a physical mee�ng of the member of the Consulta�ve Commi�ee of the City Chambers of Commerce (CCCCC) was held on Tuesday, 9th March 2021 at MCCI office premises .During the mee�ng, issues such as the procedures to be followed for online CoO such as online so�ware, payment gateway and revision of CoO fees for Members and Non Members were discussed. This was followed by an online mee�ng with Mr.Rahul Singh, DGFT on Payment Gateway through zoom.
Signing of MOU between Sundaram Finance and MAMC & Governing Council Meeting (First Physical Meeting) on 12th March 2021 In order to formalize the arbitra�on services between MAMC and Sundaram Finance Ltd an MOU was signed between MAMC
and
Sundaram
Finance
Ltd.
Mr
Srivats
Ram,
Chairman
MAMC
Governing
council
and
Mr. T T Srinivasaraghavan ,MD, SFL signed the MOU and had a tour of the state of the art facili�es of MAMC. The Second Governing Council Mee�ng of the MAMC was held a�er the signing of MOU, wherein the Rules of Arbitra�on centre, Arbitrators fees were ra�fied and further plans to expand the scope of MAMC was discussed in detail.
7
MCCI
MONTHLY REPORT - march 2021
The Madras Chamber
Virtual demo and Discussion on Agency on-boarding for Non-Preferential CoOs held on 18th March 2021 The DGTF organized a Demo and Discussion on Agency on-boarding for Non-Preferen�al CoOs via video conferencing. The Agenda discussed were 1. Demo of the on-boarding process. 2. FAQs and integra�on kit that were emailed to all the agencies on 12/03/2021. 3. Q&A All the representa�ves of local Chambers assembled at MCCI premises to view the demo. The Common issues and queries were raised collec�vely during the discussion
Brainstorming Session to review and revamp the syllabus on Corporate Secretary ship for Justice Basheer Ahmed Sayeed College for Women - 20th March through virtual platform. Jus�ce Basheer Ahmed Sayeed College, Department of Corporate Secretaryship & Informa�on Systems Management, for Women requested the Chamber’s support to revamp the syllabus of Corporate Secretary course. Dr. Ravi, GC Member took part in the virtual brainstorming session and shared his exper�se and knowledge and it was appreciated by the College.
Commi�ee Mee�ngs
•
Women Business Council on 1st March 2021
•
General Commi�ee Mee�ng on 13th March 2021
•
Company Law Commi�ee on 18th March 2021
•
HR & IR Commi�ee on 27th March 2021
•
Other Expert Commi�ee Core Group and Small team discussion
8
MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
9
MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
10
MCCI
MONTHLY REPORT - february 2021
The Madras Chamber
11
