Mcci annual report 2015

9ANNUAL REPORT 2014-15

19th September 2014Interaction with the Delegation from Portugal

Resource Experts : Ms.Amina, Partner,Mundiservices, Ms.Maria,GM, Association ofNational Electromechanical & Metalurgical Entities,Mr.Pedro, Ecocil and Mr.Ferdinand, Natrater,Portugal.

29th September 2014178th Chamber Day

Resource Experts : Dr.Arvind Mayaram, Secretary,Ministry of Finance, Department of Economic Affairs,H.E. Mr. Bharat Joshi, Deputy High Commissioner,British Deputy High Commission, Mr.M.Vel Murugan,Executive V ice Chairman, Tamil Nadu ExportPromotion and Guidance Bureau.

10th October 2014FFT on How Smart (a) City can be?

Resource Experts : Mr.Y.Shivakumar, RegionalManager, CISCO Systems India, Mr.Anand Madavan,Head-Infrastructure & Projects, IMAcs, Ms.RangaRohini, Associate Urban Development, ITDP,Dr.Mano Kumarasuriyar, Advisor, Athena Infonomicsand Mr.Mainak Ray, Urban Planner, Atkins.

14th October 2014Interactive meeting with Delegates from Gyeonggido Province, Korea

15th October 2014Interactive session on “Invest in Bavaria – BusinessOpportunities for Indian Companies in Bavaria,Germany”

Chief Guest : H.E.Mr.Achim Fabig, Consul General ofGermany, Chennai.Resource Experts : Mr.John Kottayil, ExecutiveDirector & Mr.T.S.Sampath Kumar, Sr.Advisor, Stateof Bavaria India Office, Bangalore.

17th & 18th October 2014Two Day All India Workshop on Indirect Taxes

Resource Experts : Mr.K.Anantha PadmanabhanIRS., Chief Commissioner of Central Excise, ChennaiTechnical Speakers : Mr P R Subramaniyan, DGM –Corp.Indirect Taxes, L&T Construction, Chennai &Chairman, MCCI VAT Committee, Ms.BargaviNatesan, Chartered Accountants, Partner, SPR & Co.,

6th September 2014Valediction of Training Course on TNVAT Act & CSTAct

Chief Guest : Mr.A.Sarvar Allam, AdditionalCommissioner (SMR),Office of the Commissioner ofCommercial Taxes.

8th September 2014Workshop on Cleantech Solutions jointly with IndoItalian Trade Commission

10th September 2014Workshop on ENERGIE Project jointly with ASSIST

11th September 2014Awareness Program on Competition Law with FISME,New Delhi and Hindustan Unilever Ltd, Mumbai.

Resource Expert : Mr.Ahmad Saif Jamali, RegionalLegal Manager, Hindustan Unilever Ltd.

16th September 2014Interactive Meeting with the National ProvidentFund Commissioner – I

Resource Expert : Mr.S.D.Prasad, Regional ProvidentFund Commissioner-I, Mr.Chandrasekar, Asst.Director (Information Systems)

17th September 2014Interaction with the Delegation from Goa Chamberof Commerce

Resource Experts : Officials from Goa Chamber ofCommerce and British Business Group, Goa andChennai.

18th September 2014Training on “Understanding Customer Types &Modifying our Selling Style”

Mr.J.Srinivasan, Trainer

18th September 2014National Conclave – The Indian Food ProcessingSector – MCCI & Indo American Chamber ofCommerce

Resource Expert : Ms.Harsimrat Kaur Badal, Hon’bleUnion Minister for Food Processing Industries,Government of India.

10 ANNUAL REPORT 2014-15

Mr.R.Anand, Manager – Indirect Taxes, L&TConstruction, Chennai, Mr.Prashanth Bhat, Director,BMR & Associates LLP, BangaloreMr.P.R.Sudhakar, Sr.General Manager – IndirectTaxes, Brakes India Ltd., & Past Chairman, MCCI VATCommittee ; Mr S Sathish, Director, PWC, Mumbai ;Mr.K.K.Sekar, DGM-Indirect Taxes, Ashok LeylandLtd., Chennai ; Ms.Aparna Nandakumar, Advocate,Chennai.Mr.T.Amarnath, General Manager – Indirect Taxes,TAFE Ltd & Co-Chairman, MCCI VAT Committee,Mr.K.Vaitheeswaran, Advocate & Tax Consultant &Chairman, MCCI Indirect Taxes Committee,Mr.B.Sriram, Partner, Ernst & Young LLP, Mr GirishRaman, Chartered Accountant, Mumbai,Mr.N.Venkataraman, Senior Advocate, New Delhi.Mr.CVS Krishna Kumar, Director – Corporate Affairs,Kone Elevator India Ltd. & Member, MCCI IndirectTaxes Committee, Mr Sunil Gabhawalla, Leader,S.B.Ghabhawalla & Co., Mumbai, Mr.P.Purushotham,Advocate & Consultant & Past Chairman, MCCI VATCommittee and Mr.G.Raghushankar, ExecutiveDirector, International Clearing & Shipping Agency(India) Pvt.Ltd., Chennai.

24th October 2014Interactive meeting with Mr.S.Anantharaman, ChiefOperations Manager, Southern Railways

29th October 2014Training on Team Building – Mr.Saba Ram, Trainer

30th October 2014Visit to Sri City by MCCI Team

3rd November 2014Interaction Meeting with Hon’ble Minister Mr.NitinGadkari, Minister of Road Transport & Highways andShipping

6th November 2014Seminar on Transfer Pricing Issues in ManufacturingSector

Chief Guest : Mr.Rathinaswamy, I.R.S., Director,International Taxation,Chennai.

Technical Speakers : Mr.Suchint Majmudar, Partner,BMR Advisors, Mr.N.Madhan, Partner, Ernst &

Young LLP, Mr.Parikshit Datta, Senior Director,Deloitte Haskins & Sells, Mr.KrishnanParameshwaran, Director, Deloitte Haskins & Sells,Mr.Hardev Singh Sabharwal, Partner, Global TransferPricing Services, BSR & Co., Mr Sivam Subramanian,Director BMR Advisors and Mr.Sriram Seshadri,Partner, BMR Legal & Chairman, MCCI ExpertCommittee on Direct Taxes.

7th November 2014Interactive meeting with Mr.Ad Melkert, FormerExecutive Director of World Bank and Former DutchMinister of Social Affairs & Employment.

10th November 2014Seminar on Inclusive Urban Prosperity

Chief Guests : Mr.Vikram Kapur, IAS., PrincipalSecretary & Commissioner, Corporation of Chennai,H.E.Mr.Bharat Joshi, Deputy High Commissioner,British Deputy High commission and Dr.Gora Mboup,Founder and President, Global Observatory linkingResearch and Action (GORA).

Technical Speakers : Dr.Ajith Kaliyath, Environment ,NIUA, New Delhi, Dr.Solomon Benjamin, AssociateProfessor, IIT Madras, Dr.Chitra, Chief Planner,CMDA, Chennai, Dr.Kala Seetharam Sridhar, Prof.and Head, Centre for Research in Urban Affairs,Institute for Social and Economic Change, Bangalore,Dr.S.Janakarajan, Professor, MIDS, Ms.V idyaSoundararajan, Sr.Regional Advisor, Climate Change& Energy, BDHC, Chennai, Mr.Toine Van Megen, CoFounder, Auroville Consulting, Ms.Kashmira MedhoraDubash, Associate Transport Planning, ITDP, Chennaiand Mr.N.Shankar, CEO, X S Real Properties Pvt.Ltd.

12th November 2014Consultative Committee of City Chambers ofCommerce Meeting with Consul General of Turkey -“Business Opportunities in Turkey”

Chief Guest : Mr.Erdal Sabri Ergen, Consul General ofTurkey, Mumbai, Mr.Mustafa Goktug Bayri,Commercial Attache, Dr.V.L.Dutt, Hon.Consul ofTurkey, Chennai.


21st December 2014Program on “ State of Indian Economy “

Speakers : Mr.R Raghuttama Rao, MD, IMaCS,Mr.T.T.Srinivasaraghavan, Managing Director,Sundaram Finance Ltd., Dr.Laveesh Bhandari, ChiefEconomist, Indicus Analytics, Mr.M.R.Venkatesh,Partner, GSV Associates & Chairman, MCCI ExpertCommittee on Economic Affairs.

30th December 2014Discussion and Presentation on GST (122ndConstitutional Bill) 2014

Resource Expert : Mr.K.Vaitheeswaran, Advocate &Tax Consultant and Chairman, MCCI ExpertCommittee on Indirect Taxes.

5th January 2015Discussion on “Leveraging India’s Free TradeAgreements with Emerging Markets” Jointly withAthena Infonomics

Resource Experts : Dr.Amitendu Palit, Head(Partneships & Programs and V isiting SeniorResearch Fellow, Institute of South Asian Studies(ISAS), Mr.M.R.Venkatesh, Partner, GSV Associates& Chairman, MCCI Expert Committee on EconomicAffairs and Mr.Arijit Dutta Chowdary, GM-International Operations, Ashok Leyland.

6th January 2015Awareness Seminar on Dangerous GoodsRegulations Act

Chief Guests : Mr.A.Shanmugam, Director ofAirworthiness, DGCA, Mr.P.S.Krishnan, President,CCHA

Speaker : Mr.B.Govindarajan, CEO, T irwinManagement Services

9th and 10th January 2015Conference on Companies Act jointly with IICA

Resource Experts : Mr.P.R.R.Nair, Head, Centre forResponsible Corporate Governance, IICA,Dr.S.Kumar, IICA.

Technical Speakers : Dr.Bhaskar Chatterjee, DirectorGeneral, IICA, Mr.J.N.Gupta, Founder & ManagingDirector, Stakeholders Empowerment Services,Mumbai, Mr.Henry Richard, Regional Director

21st November 2014Program on Profit Mantra for Business jointly withFISME represented by Mr.Mukesh Kalra, JointSecretary (International Trade), FISME

Speakers : Mr. Samant Sikka, Sr.Vice President, AxisMutual Fund, Mr. Kaushik Shaw, Hewlett-Packard,Mr. Siddhartha Garg, Strategic Partner Manager,Channel Sales, Google India, Mr.David Wittenberg,Chief Executive Officer, The Innovation Work Groupand Mr.Clynton Almeida, CIO, Redington India Ltd.,and Chairman, MCCI Expert Committee on IT/ITES.

16th December 2014Training on “Compass drive Time Management” -Mr.Harihara Madhavan, Trainer

17th December 2014Manufacturing Leadership Summit : “Internet ofEverything & Delivering Business Outcomes” jointProgram with CISCO

Speakers : Mr.Manikam Ramaswami, Chairman andManaging Director, Loyal Textile Mills Ltd.,Mr.Nalinikanth Gollagunta, Managing Director –Sales, CISCO India, Mr.Vinay Dua, Vice President,Business Development - IOT, Cisco India, Mr.TarunMishra, Founder & CEO, Covacsis, Mr.DhanarajNadanasigamani, Engineering Manager , CaterpillarEngineering Design Centre-India and Mr.ClyntonAlmeida, Chief Information Officer, Redington IndiaLtd & Chairman, MCCI Expert Committee on IT/ITES.

19th December 2014Program on Occupational Health, Safety andEnvironment

Chief Guest : Mr.C.Gnanasekara Babu Rao, Director,Directorate of Industrial Safety & Health, Govt. ofTamil Nadu, Mr.S.Ananth, Joint Director, Directorateof Industrial Safety & Health, Govt. of Tamil Nadu.

Speakers : Mr.S.Ananth, Joint Director, Directorateof Industrial Safety & Health, GoTN., Mr. SathyaPrakash, Manager – Contracts, India Region, DNVGL,Chennai, Mr.M.Namasivayam, Head – Fire & Safety,DLF, IT SEZ, Mr. Sudharsan, AGM – TechnicalServices, Orient Green Power Co.Ltd., Mr.AnandGopalan, Advocate, Partner, T S Gopalan & Co., andDr.S.Sankar, Associate Professor, Sri RamachandraMedical University.


(Retd.) Ministry of Corporate Affairs, Ms.B.Chandra,Practicing Company Secretary, Mr.Mahesh Krishnan,Partner, RGN Price & Co., Mr.V.Babu SankaraSubramanian, Rajalakshmi & Co., Chennai,CA.Mr.Srikanth, Chartered Accountant & Secretary,Investor Association, Mr.P.Viswanathan, CompanySecretary & Compliance Officer, Sundaram FinanceLtd.

21st January 2015Awareness Program on TNVAT Total Solutions Project

Chief Guest : Mr.M.Parameswaran, JointCommissioner (CT), Chennai Central Division,Commercial Taxes, GoTN.Speakers : Mr. Venkataprakash and officials of TCS

23rd January 2015Interactive Meeting with officials from the TurkishIndian Chamber of Commerce & Industry, New Delhi

28th January 2015Digital Transformation Innovation – Talk by RobertStroud, International President, ISACA

31st January 2015Management Development Program on TNVAT Act& CST Act at Madurai

Chief Guest : Mr.S.Vijaya Kumar, Joint Commissioner– CT, MaduraiSpeakers : Mr.P.R.Subramaniyan, Chairman, MCCIVAT Committee, Mr.K.K.Sekar, Head, Indirect Taxes,Ashok Leyland Ltd and Co-Chairman, MCCI VATCommittee, Mr.G.Balakrishnan, Partner, BSDAssociates & Member, MCCI VAT Committee,Mr.Venkat Prakash and Mr.V iqar Beigh, TataConsultancy Services and Commercial Tax Officials,Madurai.

10th February 2015Interactive Meeting with Officials from Peel Ports,UK

Resource Experts : Mr.Gary Hodgson, Group COOand Mr.Peter Faker, Group Sales Director.

20th & 21st February 2015Advanced Training Program for Aspiring WomenDirectors

Chief Guest : H.E.Mr.Achim Fabig, Consul General,

Germany & Ms.Ranjana Kumar, Former CMD, IndianBank & Chairperson, Advisory Board on Bank,Commercial and Financial Frauds (ABBCFF).Technical Speakers : Dr.Suresh Srinivasan,Mr.S.A.Murali Prasad, Prof.Shanti Srikanth andDr.G.Radhakrishnan.

26th – 28th February 2015Water Today Pvt.Ltd., 9th Edition of WATER EXPO –Supporting Organization - MCCI

3rd March 2015Post Budget Workshop on Central Budget & FinanceBill 2015-16

Chief Guest : Dr.S.Narayan, Advisor, AthenaInfonomics & Former Finance Secretary, GoI andEconomic Advisor to the Prime MinisterSpeakers : Mr.Sriram Seshadri, Partner, BMR Legaland Chairman, MCCI Expert Committee on DirectTaxes, Mr.K.Vaitheeswaran, Advocate & TaxConsultant and Chairman, MCCI Expert committeeon Indirect Taxes, Mr.M.R.Venkatesh, Partner, GSVAssociates & Chairman, MCCI Expert Committee onEconomic Affairs.

17th March 2015Awareness Program on TSP (TNVAT) at Coimbatore

Chief Guest : Mr.Ajay Yadav, IAS., JointCommissioner, Commercial Taxes, Coimbatore

Speaker : Mr.Venkat Prakash, TCS

18th March 2015Awareness Program on TSP (TNVAT) at Trichy

Chief Guest : Mr.Shanmuganathan, JointCommissioner, Commercial Taxes, Trichy

Speaker : Mr.Venkat Prakash and Mr.SivaSubramanian, TCS

21st March 2015Food for Thought on “Is Entrepreneruship GenderNeutral ?”

Speakers : Dr.Geetha Premkumar, Director, VectorIndo Janix Pvt.Ltd, Ms. Sarada Ramani, CEO, CI GlobalTechnologies, Mr.Navneet Raman, CFO, NucleusSatellite Communications (Madras) Pvt.Ltd.


INDIAN ECONOMY

Indian Economy is the seventh-largest in the worldby nominal GDP and the third-largest by purchasing

power parity (PPP). The country is one of the G-20major economies, a member of BRICS and adeveloping economy among the top 20 global tradersaccording to the WTO.

As of April 2015, the Indian economy is nominallyworth US$2.306 trillion according to InternationalMonetary Fund (IMF) report.

Indian economy has weathered many challengessuccessfully in recent times and is currently placedon a cyclical upturn, on the back of strong policiesand a whiff of new optimism.

After a decisive election victory in May 2014, thegovernment has set ambitious development goals,seeking to transform India into a “prosperous”nation. The year 2014-15 has witnessed key policyreforms, aimed at aiding growth revival andsurmounting the structural constraints in theeconomy. The government has startedimplementing reforms spanning a number of areasto achieve these goals.

Reforms include efforts to improve the businessenvironment; liberalization of FDI; enhancinginvestment in infrastructure; speedier resolution ofcorporate disputes; and simplif ied and lowercorporate taxation. It has devolved more resourcesand spending discretion to the States in the Budgetfor 2015-16; free up some fiscal space through fueltax and subsidy reforms; and strove to improve thequality of public expenditure. Some of the fewschemes which the Government has launched forthe development and welfare of the country are“Make in India”, Jan Dhan Yojana, The Direct BenefitTransfer, Digital India, Swachh Bharat Abhiyan,Mudra Bank Yojana etc.

The government reiterated its resolve to implementthe GST by April, 2016, widely expected to increaseIndia’s tax-to-GDP ratio by at least a couple ofpercentage points. Some progress has been madeon weaning the delivery of social benefits from pricebased subsidies and in-kind transfers toward directtransfer of benefits. The new models of delivery, tobe channeled through bank accounts, mobilephones, and the biometric identity of thebeneficiaries, are expected to improve targeting and

reduce ineff iciencies and leakages.Commensurately, 125 million bank accounts havebeen opened in a short span of time; while thecoverage of the biometric based UniqueIdentification is being extended to cover the entirepopulation.

Economy towards higher growth:

The economy has been on an upturn in the last threequarters- growth has accelerated, inflation hasdeclined, current account deficit has narrowed, andexternal buffers have been replenished. GDP growth(at market prices) is projected to accelerate to 7.2percent in 2014-15, compared to 6.9 percent in theprevious year. The 7.5 percent GDP growth ratewitnessed in Q4 of 2014-15 (y-o-y) signals definitepositive developments.

Growth Rates of GDP

Constant Price (2011-12) Current Price

2014-15 7.3 10.5

Q1 6.7 13.4

Q2 8.4 13.6

Q3 6.6 8.1

Q4 7.5 7.7

GDP growth at market prices accelerated to 7.4percent during the first three quarters of 2014-15,compared to 7 percent during the same period lastyear. On the production side, the Services sectoraccounting for nearly half of total GDP, continued tobe the largest contributor to the economic growthwith a distinct acceleration in growth in the secondand third quarter of 2014-15, to 10.1 and 13.5 percentrespectively.

Investment’s contribution to GDP growth wasmodest in 2014-15. Private investment in particularremained subdued, compared to the other drivers


GSDP per capita of Tamil Nadu at current Prices (US $)of growth, as well as to its own past performance.The decline in the rate of investment has extendedto all major sectors of the economy--agriculture,manufacturing, construction, other non-industrialsectors, as well as services.

Acceleration in growth is conditional on the rate ofinvestment picking up to 11percent during FY2016-FY2018. Pace of growth of government consumptionexpenditure is expected to increase in 2015-16 onaccount of the anticipated revision in public salariesunder the ambit of the 7th Pay Commission; andprivate consumption expenditure is expected torespond gradually, increasing to 9 percent by 2017-18 from 6.1 percent in 2014-15. Low crude prices,improved production capacity, and the adoption ofthe flexible inflation targeting framework, wouldlikely keep inflationary pressures under check,inflationary expectations anchored and help preventoverheating in the medium-term.

On the expenditure side, it is driven by public andprivate consumption, with modest contributionsfrom investment and exports. Underpinned by theglobal trends, inflation declined to 4.6 percent duringthe second half of 2014-15 from an average of 7.3percent in the first half of the year. The decline in

inflation and fiscal restraint generated some roomfor monetary accommodation, making it possible forthe RBI to lower the policy rates twice in the lastquarter of 2014-15 and again in June 2015

Agriculture, electricity, gas, water supply & otherutility services and construction remain to be the keyareas of concern. For instance, agriculture’s grossvalue added has turned negative; electricity, gas,water supply & other utility services performance alsoseems to have slowed down from the 5.9 percentseen in Q4 of 2013-14 to 4.2 percent in Q4 2014-15.

The fiscal deficit target of 4.1 percent of GDP in 2014-15 is expected to be met:

The deficit target for 2014-15 is likely to be metdespite weak revenue collection, primarily bycompressing current and capital expenditure.Deviating from recent trends, the recentlyannounced budget for 2015-16 proposed to improvethe quality of expenditure by increasing capitalexpenditure by about 0.2 percent of GDP next year;while allocating a larger share of tax revenue to theStates, along with greater spending discretion. Therewas some decline in fuel subsidies, due to subsidyreforms as well as the decline in the price of oil.Meeting the budgeted f iscal targets for 2015-16

Quarterly Estimate of GVA at Basic Prices (Growth (Y-o-Y)

(at 2011-12 prices)

2013-14 2014-15

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Agriculture, forestry & fishing 2.7 3.6 3.8 4.4 2.6 2.1 -1.1 -1.4

Mining & quarrying 0.8 4.5 4.2 11.5 4.3 1.4 1.5 2.3

Manufacturing 7.2 3.8 5.9 4.4 8.4 7.9 3.6 8.4

Electricity, gas ,water supply &other utility services 2.8 6.5 3.9 5.9 10.1 8.7 8.7 4.2

Construction 1.5 3.5 3.8 1.2 6.5 8.7 3.1 1.4

Trade, hotels, transport,communication and servicesrelated to broadcasting 10.3 11.9 12.4 9.9 12.1 8.9 7.4 14.1

Financial, real estate &professional services 7.7 11.9 5.7 5.5 9.3 13.5 13.3 10.2

Public administration, defenceand Other Services 14.4 6.9 9.1 2.4 2.8 7.1 19.7 0.1

GVA at Basic Price 7.2 7.5 6.6 5.3 7.4 8.4 6.8 6.1


Source CMIE, T N Policy Note on Industries 2013-14would depend on the realization of tax buoyancyassumed in the budget, as well as the targets fordisinvestment receipts, and the assumptions on oilprices and growth outcomes. The governmentslowed down the pace of medium term f iscalconsolidation to make room for “fundinginfrastructure investment”, proposing to consolidatethe deficit to 3 percent of GDP in the next threeyears, instead of two as was proposed in the previousbudget; setting the glide path of def icit to 3.9percent, 3.5 percent and 3.0 percent respectively in2015-16, 2016-17 and 2017-18.

Balance of payment outlook improved during theyear:

While the decline in the price of oil helped containthe oil import bill; moderation in the price of gold andrestrictions on gold imports helped restrain theimport of gold. Both these developments restrainedthe trade def icit to $112 billion in the f irst threequarters of 2014-15, compared to $117 billion over thesame period in the previous fiscal year. With thesteady stream of remittances and services exports,the current account deficit was curtailed at $26 billionin the first three quarters of the fiscal year, comparedto $31 billion over the same period in the previous

year. The RBI refurbished its reserve buffers,increasing it by nearly $40 billion during the year to$338 billion as of February 27, 2015.

Industrial Production revived:

Industrial output, which accounts for nearly one-thirdof GDP, accelerated by 5.3 percent during the firstthree quarters of 2014-15, compared to 4.6 percentlast year, and 2.7 percent in the year before. Themanufacturing sector (with a weight of 18 percent inGDP) grew at a steady 5.4 percent in the first threequarters of the fiscal year. The trend of revival wasalso reflected in high frequency indicators ofindustrial production—the Index of IndustrialProduction, grew by 2.6 percent yoy during Apr-Dec2014, from stagnant output in the previous year.While utilities grew at a robust 9.6 percent duringApr-Dec, 2014, construction growth slowed in thethird quarter of 2014-15.

Performance of the Core Industry

The combined Index of Eight Core Industries standsat 177.8 in March, 2015, which was 0.1 % lowercompared to the index of March, 2014. Its cumulativegrowth during April to March, 2014-15 was 3.5 %.

Growth in Eight Core Infrastructure Industries

(% change, Y-o-Y)

2011-12 2012-13 2013-14 2014-152013-14 2014-15

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Coal 1.3 4.6 0.8 8.2 -1.1 6.2 0.6 1.7 4.9 8.9 13.6 7.1

Crude Oil 1.0 -0.6 -0.2 -0.9 -1.4 -1.1 0.6 1.1 -0.1 -2.3 -0.1 -0.8

Natural Gas -8.9 -14.5 -13.0 -5.2 -17.6 -15.4 -11.6 -6.4 -3.9 -7.8 -3.5 -5.3

Refinary Products 3.1 29.0 1.7 0.4 4.6 5.9 9.1 19.8 -1.4 -4.1 5.9 0.7

Fertilizers 0.4 -3.4 1.5 -0.1 2.5 2.5 2.9 -1.8 8.6 -6.8 -3.9 4.0

Steel 10.3 4.1 4.3 0.5 3.1 6.0 5.1 9.1 11.8 3.1 5.4 4.0

Cement 6.7 7.7 3.0 5.6 3.3 5.9 2.1 1.2 9.6 9.8 4.4 -0.2

Electricity 8.1 4.0 5.6 8.0 2.8 8.1 4.6 7.0 11.4 9.1 9.4 3.7

Overall Index 5.0 6.5 2.6 3.5 1.6 4.9 3.7 6.9 6.7 3.4 6.4 2.7


Inflation:

The buildup inflation rate in the financial year so farwas -0.06 percent compared to a build up rate of0.28 percent in the corresponding period of theprevious year. The annual data suggests that mainlyaided by slight moderation in the price hikes of Fuel& Power, manufacturing products and minerals theWPI for the month of April 2015 stood at -2.65 percentas compared to the 5.55 percent seen in April 2014.

After averaging at 7.3 percent in the first half of 2014-15, inflation declined sharply to 4 percent in the thirdquarter before stabilizing at 5.2 percent, yoy, in thelast quarter of 2014-15. The moderation in inflationwas broad based and reflected both in the WPI andCPI series; as well as separately in core inflation andin food and fuel inflation—the two components witha cumulative weight exceeding 50 percent in the CPIindex. Both domestic and global factors contributedto moderating inflation in the past few months. Theoutlook for inflation remains benign going forward.

Monetary Policy

RBI on June 02, 2015 decided to:

Reduce the policy repo rate under the liquidityadjustment facility (LAF) by 25 basis points from7.5 per cent to 7.25 per cent with immediateeffect

Keep the cash reserve ratio (CRR) of scheduledbanks unchanged at 4.0 per cent of net demandand time liabilities (NDTL);

Continue to provide liquidity under overnightrepos at 0.25 per cent of bank-wise NDTL at theLAF repo rate and liquidity under 14-day termrepos as well as longer term repos of up to 0.75

per cent of NDTL of the banking system throughauctions; and

Continue with overnight/term variable rate reposand reverse repos to smooth liquidity.

Consequently, the reverse repo rate under theLAF stands adjusted to 6.25 per cent, and themarginal standing facility (MSF) rate and the BankRate to 8.25 per cent.

Monetary Measures Initiated by RBI

Variable Rates

Repo Rate 7.25%

Bank Rate 8.25%

Reverse Repo Rate 6.25%

Cash Reserve Ratio 4%

Statutory Liquidity Ratio 21.5%

Conclusion:

The outlook for the Indian economy is underpinnedby two main trends: first, a relatively benign externalenvironment, particularly low commodity prices,creates policy space; second, a reform programwhich, if fully implemented, can unlock investmentand boost total factor productivity (TFP) growth.Reforms if implemented fully are expected toimprove the business environment and alleviateconstraints to firm growth. The need is for creatingan investment and industry friendly environment thatis largely focused on growth, job creation, povertyalleviation and passing the benefits of the economicgrowth to the lowest sections of the economy.

With an expected growth rate of 7.5 per cent thisfiscal, India has for the first time topped the WorldBank’s growth chart for major economies. Reformshave sustained confidence and falling oil prices havereduced vulnerabilities, paving the way for theeconomy to grow by a robust 7.5 per cent rate in2015 and surpass China.

The Government needs to keep on pushing moreground level reforms and improve implementationso as to realize the economy’s true potential.

(Source: World Bank report, RBI, CSO, Office of theEconomic Adviser and Planning Commission)


TAMIL NADU ECONOMY

Overview:

Tamil Nadu is one of the most economicallydeveloped states and India’s most industrialized andurbanized economy. Tamil Nadu is the fourth largeststate of India, and has contributed 8.1 per cent toIndia’s GDP in 2013-14. The State has madeexpeditious progress in the pursuit of economicdevelopment and has emerged as one of the leadingindustrialized states of India.

It has well developed infrastructure with an excellentroad and rail network, three major ports, 23 minorports, and seven airports across the state providingexcellent connectivity. It is one of the first states inIndia to have 100 per cent metalled road connectivity.

Tamil Nadu ranks first among the states in terms offactories and industrial workers. It is among the mostsought after business destinations by foreigninvestors and the presence of numerous and diverseindustries in the state stand testimony this fact.

The state has traditionally been an ideal choice forinvestment, which is reflected by its industrial output,number of working factories, manufacturing sectorgrowth, service sector performance andinfrastructure development. The state has thehighest share in terms of India’s factories andindustrial workers. With a Robust industrial ecosystemand with right mix of over 40,000 large industriessupported by over 900,000 SME’s, the state is thehome to over 50 of Fortune 500 companies, and hasreceived USD 15.99 billion in FDI from April 2000 toDecember 2014. It contributes more than 10% of thenational output in paper, machinery, electronics,textiles, auto and auto components and leatherproducts.

Tamil Nadu is a major exporter of a variety ofmanufactured goods such as automobiles, autocomponents, engineering goods, textiles andgarments, and leather products & IT. Tirupur andErode are the country's largest exporters ofknitwear. A large number of software exports fromTamil Nadu consist of application software.

Chennai is a key financial centre in south India, withstrong presence of major Indian financial institutionsand foreign banks. Due to its proximity with EastAsian countries it is also pitching to become anInternational Finance Hub.

The State has a thriving tourism sector, and ranksfirst in India in terms of number of domestic touristarrivals and second in foreign tourist arrivals. A totalnumber of 244 million domestic tourists and 3.9million foreign tourists visited Tamil Nadu in 2013.With an investment of USD 1.7 billion planned topromote growth of tourism and hospitality sectors,the tourism sector is anticipated to grow at a robustpace attribution to the emergence of the region as akey business and cultural hub.

With the presence of 55 universities, 42 medicalcolleges, 553 engineering colleges, 464 polytechnicsand 25 dental colleges, the state has skilledmanpower in abundance and produces nearly fourlakh engineering and polytechnic students everyyear, highest in the Country.

India and China have agreed to develop Chennai-Chongqing as sister cities.

The Government is encouraging industrialization ofthe Southern Districts of Tamil Nadu, through variousincentives and benef its. Potential sectors forinvesting in Tamil Nadu are the Aero Space, Auto &Auto Components, Agro& Food Processing, Biotechand Pharmaceuticals, Chemical & Petroleum,Electronics & Hardware, Heavy Engineering,Infrastructure, IT & ITeS, Renewable Energy, Skilldevelopment, Textiles.

In line with Vision 2023, the state aims to step upinfrastructure investment from 4-5 per cent of GSDPcurrently to 10 per cent by 2015 and about 11.5 percent by 2019. Roads & highways, ports, railways,education and healthcare are likely to see majorinvestments. The state also plans to develop twoindustrial corridors – Chennai – Bengaluru andMadurai-Tuticorin.

A recent study conducted by Assocham has rankedTamil Nadu as the best performing state on eight outof nine development parameters like economy,power, roads and health on the basis of theirperformance in the years 2009-2011 and 2012-14.

Infrastructure:

Port:

Tamil Nadu has three major ports: Chennai, Ennoreand V O Chidambaranar. It has 23 minor ports. In 2013-


chemical industries and offers great potential forbiotechnology due to its diverse natural resourcesand human resources. The State accounts for nearly11%33 of the pharmaceuticals market in the country.The major chemical centres in TN are Chennai,Cuddalore and Tuticorin.

Tamil Nadu promoted TICEL BioPark in Taramanithrough TIDCO in 2004. The park provides specializedinfrastructure for Biotech industry. A second TICELpark was promoted in 2009.

The State has manufacturing facilities for fertilizers,paints, carbon black, pesticides, pharmaceuticals,organic and inorganic chemicals etc.

IT /ITES

Tamil Nadu is ranked 2nd in software exports fromIndia after Karnataka.

The State has 22 approved IT Parks and has emergedas a key destination for IT investments. There are 15operational SEZs for IT/ITeS in the state & has a talentpool of nearly 375000 professionals.

The TIDEL Park in Chennai is spread over 1.28 millionsq ft. It is the largest IT facility in India, promoted byTIDCO and ELCOT. Electronics Corporation of TamilNadu Limited (ELCOT) has established eightInformation Technology Special Economic Zones(ELCOSEZs) in Chennai and seven in Tier-II locationsThe land for setting up first International Institute ofInformation Technology (IIIT) in Tamil Nadu has beenidentified in Sethurapatty, near Tiruchirapalli.

The number of software units in Tamil Nadu hasincreased from 1,437 in 2006-07 to 1,780 in 2012-13.

Banking & Financial Services

Tamil Nadu houses approximately 7.5 % of India’s totalbank off ices. The state had a total of 7,646 (Scheduled commercial banks) banking offices as ofDecember 2012, out of which 1,231 are located inChennai.

Banking and Insurance industry contributed 6.2 percent to the GSDP of Tamil Nadu in 2012-13. Theindustry, valued at US$ 8.2 billion in 2012-13,

Roads:

Tamil Nadu has 28 national highways running throughit. The state is also an important terminus in theGolden Quadrilateral road link of the NationalHighways Authority of India (NHAI). The state isexpected to receive US$ 1,580.2 million for its roadsector projects from World Bank, which would covercosts for 1,678 km of roads in identified areas. TamilNadu Vision 2023 envisages an investment of US$27.7* billion for improving highways. Chennai is slatedto get 17 new projects worth US$ 334.8 million.

Key Industries

Automobile & Automotive:

Automobile Industry shows a steady performance inthe State with Governments constant support whichhas nurtured Chennai as a very cost-effectivemanufacturing hub for automobiles. The capital city,Chennai, dons the ubiquitous name of Detroit of Asiadue to the presence of the top Global Automobilemajors like Ford, Hyundai, BMW, Renault, Nissan andMitsubishi HM.

The Sate is the largest contributor to the automobilesector in India in terms of Industrial Output and hasabout 20% of India’s total installed capacity of Vehicleproduction and aims to reach 5 million Unitsproduction by 2020. It is the Export Hub of PassengerVehicles accounting for 70% of India’s overall exportsand accounts for 21 % of India’s automobile exports.The State has over 80 automobile componentmanufacturers, accounting for a turnover of overUSD 1.3 billion as in 2013-14.

The reasons for the successful performance ofAutomobile Industry are: Innovative Policies, Singlewindow facilitation through Guidance Bureau, Landallotment in different Industrial parks and SEZs,Infrastructure support in the form of power, water,connecting roads, drainage, etc.

The Government of Tamil Nadu has recently unveiledan automobile policy which would focus on futuredevelopment and consolidation of the automobileand components industry, The policy envisagessetting up of an exclusive auto city, India’s first, tocater to the needs of both domestic and global automanufacturers in component designing, prototypingand manufacturing.

14, the total traffic handled at Chennai, Ennore and VO Chidambaranar ports was 51.1 million tonnes, 27.3million tonnes and 28.6 million tonnes, respectively.Together, the three ports accounted for about 19.3per cent of the total traffic at all major ports acrossthe country during 2013-14. Indian Navy plans tofurther develop the Tuticorin port, to establish aforward operating base. Tamil Nadu Vision 2023envisages an investment of US$ 3.1* billion for threegreenf ield ports and f ive minor ports, with acumulative capacity of 150 million tonnes.

Airport:

Tamil Nadu has international airports at Chennai,Coimbatore and Trichy; it has domestic airports atTuticorin, Salem, Vellore (non-operational) andMadurai. The Chennai International Airport was thefirst in the country to get ISO 9001-2000 certification.In 2013-14, Chennai Airport recorded a passengertraffic of 12.9 million, up from 12.77 million in 2012-13.Construction work on a new passenger terminal atthe Chennai International Airport has beencompleted. The terminal would have a capacity of 10million passengers. Electronic Data Interchange (EDI)facility for customs clearance is available at theChennai Airport. The Trichy Airport handled 4,773tonnes of cargo in 2013-14, registering 63 per centgrowth over the previous year. A new integratedterminal building has been constructed at MaduraiAirport. Thanjavur is slated to get an airport, as thegovernment has identified 50 locations in smallercities for airport.

Railways:

Tamil Nadu’s railway network falls under thejurisdiction of Southern Railways, and presently hasa 4,181 km rail network, with 690 railway stations.Chennai has a well-established suburban railwaynetwork connecting it to the suburbs andneighbouring cities. Tamil Nadu V ision 2023envisages an investment of US$ 27.5* billion for keyrail projects, including high-speed rail on the Chennai-Coimbatore-Madurai-Kanyakumari route and adedicated freight corridor between Chennai &Thoothukudi. Government is ready to enter into aMoU to develop three new railway projects inMadurai-Tuticorin Industrial Corridor.


Coimbatore City Electronics Cluster (ADD IndustrialPark) under the EMC scheme. GMR SpecialInvestment Region (GSKIR) is a strategically plannedproject over 4300 acres near Hosur, Krishnagiri. TheEMC cluster of 527 acres and has a multi-modalconnectivity covering national highways, Statehighways and railways.

Heavy Engineering:

A robust engineering industry exists in the stateinvolving products ranging from automobiles,bicycles, castings and forgings, textile machines,electrical and non-electrical machinery, pumps andtransportation equipment, engineering ancillaryindustries etc. The State secures 2nd position ingeneral purpose and special purpose machinery with18% and 11% contribution respectively to total India’soutput.

The State has a network of nearly 3,000 engineeringunits, employing over 250,000 skilled workforces,making high-quality inputs including castings &forgings, and a wide variety of ancillary products.

Engineering clusters with established businessenvironment and supply chains in the State –Chennai, T iruvallur, Kancheepuram, Vellore,Dharmapuri, Coimbatore, etc have been established.

Kancheepuram and Chennai are two prime locationswhere upcoming projects in heavy engineeringsector are being planned/under implementationHeavy Engineering Industrial Park has been proposedin Tiruvallur district. Two Manufacturing and BusinessInvestment Regions (Coimbatore-Salem IndustrialCorridor and Madurai-Thoothukudi IndustrialCorridor) are proposed to have heavy engineeringas part of their industrial base. Chennai – BengaluruIndustrial Corridor is also planned to pass through thestate and has segments of heavy engineering in itslist of priority sectors for development. Investmentto the tune of Rs. 3,660 crore is anticipated.

Infrastructure:

Tamil Nadu is the most urbanized state in India, withmore than 48% of the population living in urbanizedlocality. The State has an installed capacity of 20000MW of power and is poised to be power surplus by2016. It is the 10th largest wind power capacity in the

In addition to the above, Government of India iscurrently implementing a project "NationalAutomotive Testing R&D Infrastructure Project"(NATRIP) in Oragadam near Chennai at a project costof about Rs.450 crores. This project aims atfacilitating introduction of world-class automotivesafety, emission and performance standards in Indiaas also ensure seamless integration of ourautomotive industry with the global industry.

Chemical, Petrochemicals & Mineral:

Tamil Nadu has a diversified manufacturing base withabout 2,500 chemical and petrochemicals factories,providing employment to over 120,000 people.Some of the leading chemical and petro chemicalmanufacturers such as CPCL, Saint Gobain, Asahi,SPIC, Chemplast Sanmar, etc. have presence in theState. Tamil Nadu’s PCPIR is spread over an area of257 sq. km. of brown field area in the coastal districtsof Cuddalore and Nagapattinam. Investments havebeen planned in Deep sea port with FSRU for importof LNG, Gas based power plant, Petrochemicalcomplex through Partnership with Private Co-Promoters, Petrochemicals downstream plants andfertilizer complex.

Electronics:

Electronics manufacturing is a growing industry inTamil Nadu. The state is the 3rd largest manufacturerof Electronic Hardeware in India and accounts for18% of the nation’s electronics output. Chennai hasemerged as EMS Hub of India. Companies likeFlextronics, Motorola, Sony-Ericsson, Foxconn,Samsung, Cisco, and Dell have chosen Chennai astheir South Asian manufacturing hub. Productsmanufactured include circuit boards and cellularphone handsets. The total Investment in Electronicshardware industry in Tamil Nadu is estimated to beabout Rs.11500 to 12000 Crores. The state has over23 Electronic Hardware Technological Parkshighways, located in major IT centric SpecialEconomic Zones(SEZs) of Sriperumbudur,Oragadam, and Mahindra World City.

Upcoming Electronic Manufacturing Clusters in TamilNadu - Coimbatore District - Electronic IndustriesAssociation of India (ELCINA) plans to set up an EMCin the District of Coimbatore in India under the name


biomass and other farms. The Tamil Nadu EnergyDevelopment Agency had taken early steps to tapthe potential from this source. The agency has largelybeen responsible for instigating the tremendousgrowth of Tamil Nadu in the development of windpower.

IT & ITeS:

IT & ITeS industry is the major contributor to theService sector in the State. The presence of major ITgiants reiterates the fact that it is one of the mostpreferred destination in India. The State is the 4thlargest software exporter in India and accounts formore than 10% of the total IT exports carried out fromIndia. Software services are the highest contributorto the exports accounting for more than 40%.

The State Government is establishing an ITInvestment Region near Chennai covering an areaof 1600 sq. km with a total investment of USD 1.7billion. Land acquisition has been initiated. There are28 operational SEZs for IT & ITeS in the State. Around234 IT Parks are in the Pipeline with a built-up spaceof 131 million sq. feet in Tamil Nadu. Tamil Nadu offersthe largest pool of technically qualified professionalsin India.

The State has the Largest Bandwidth and High Teledensity communication infrastructure. Presence of3 Submarine cables in Tamil Nadu enables theprivilege of very high speed utilization (14.8 Tbps) inIndia. The Government is taking various measures toboost the sector by implementing various policies.

Textiles and Apparels:

Tamil Nadu is one of the leading states in India inTextile Industries. It houses the country’s largestspinning industry accounting for almost 40% of thetotal installed capacity in India. It has a completeecosystem of textile industry. amil Nadu is home tothe Knitting industry and has the biggest knittingcluster in India – Tirupur.The state offers a completeecosystem of the textile industry. There are 2614Hand Processing Units and 985 Power Processingunits in Tamil Nadu.

Tamil Nadu ranks 1st in the Apparel Industry and 2ndin the Textile Industry in terms of percentagecontribution by state in the total industrial output of

world with an installed capacity of 7000 MW. It hasthe largest telecom bandwith and highest tele-density in India. Various signature projects are inpipeline.

The vision for Tamil Nadu for 2023 is to become India’smost prosperous and progressive State with nopoverty, and where its people enjoy all the basicservices of a modern society and live in harmoniousengagement with the environment and with the restof the world.

Power:

Power infrastructure is a critical ingredient foraccelerating a sustained growth of the economy.Power input is a pivot around which all economicactivities revolve. It drives the State’s agricultural,industrial, commercial, social and overall economicgrowth. The Government of Tamil Nadu is accordingtopmost priority for development of powerinfrastructure in the State.

With the objective of managing the ever-increasingdemand for electricity in the State and to make itpower surplus, capacity addition programmes havebeen undertaken by initiating new power projects.Initially, the main thrust was laid on power generationthrough tapping of hydel potential because of itscost-effective nature. The conventional sources ofenergy in the State include hydro, thermal, gas,including the share from Central sector projects(thermal and atomic), private power projects andexternal assistance projects. The State Governmentreceives an assigned share of the installed capacityof Central sector power projects in Tamil Nadu as wellas in neighbouring States. The State is offered a sharefrom the two projects Madras Atomic Power Projectand Kaiga Atomic Power Project. The other powerprojects include 7 Private Power Projects (BasinBridge GMR, Samalpatti DEPP, PillaiperumalnallurGTPP, Madurai Power Corporation, ST-CMS, LANCOTanjore Power Co. Ltd, Penna Power Limited),external assistance projects and captive powerprojects

With the commitment to mitigate climate changeeffects, the State Government has made severalpolicy initiatives to promote renewable energygeneration. The State is the pioneer in promotingrenewable energy sources of energy viz., wind, solar,


respective industries in India.The state has around 6upcoming textile parks and two upcoming apparelparks.

Skill Development:

Tamil Nadu is a pioneer in promoting technicaleducation in private sector with the highest numberof technical universities in the countries. About amillion engineers and technical personnel(mechanical, civil, electrical & electronics, computersand communication, chemicals, biotechnology) areadded to the State’s talent pool each year. StateGovernment has established best in class institutionsas Centres of Excellence in various f ields likeAutomotive, solar and clear technology, Agrictulturalpractices,Water Conservation,ConstructionAerospace, Nanotechnology, Basic Sciences that willattract the best talent from across the globe.

Economy Snapshot

Gross State Domestic Product

Gross state domestic product (GSDP) of Tamil Nadugrew at a compound annual growth rate (CAGR) of16.3 per cent between 2004-05 and 2013-14 reachingUS$ 141.1 billion in 2013-14.

(Source Planning Commission Databook, June 2014)

Percentage Distribution of GSDP

In 2013-14, the Tertiary sector contributed 59% to thestate’s GSDP and grew at an average rate of 16.7 %between 2004-05 and 2013-14.

The growth was mainly driven by trade, hotels, realestates, f inance, insurance, transport,communications and other services.

Secondary sector contributed 28.7% to the state’sGSDP and grew at an average rate of 15.3% between2003-04 and 2013-14 and was mainly driven bymanufacturing & construction. Primary sector grewat an average of 16.8% between 2003-04 and 2013-14&contributed 12.3% to the state’s GDP.

(Source Planning Commission Databook, June 2014)

Per Capita Gross State Domestic Product:

Per Capita GSDP increased at a CAGR of 15.5% between2004-05 and 2013-14. The state’s per capita GSDP in2013-14 was US$ 2,059.3 (at current prices) is nearly48.2 per cent higher than the national average ofUS$ 1,389.6.

(Source – CMIE *Growth rate in INR terms)

FDI Inflows & Investments

As per Department of Industrial Policy & Promotion(DIPP), cumulative FDI inflows from April 2000 toDecember 2014 were US $15.9 billion (includingPuducherry).


The state has attracted investments worth US # 4.8billion since 2011 and is expected to attract additionalinvestment of US$ 7.0 billion in the near term.

With an outstanding investments amounting to US $159.5 billion in 2013-14 the state is ranked sixthcompared to other Indian states.

Conclusion:

The year 2013-14 was a year of consolidation duringwhich all sectors exhibited a strong revival. All thethree major sectors displayed positive growth during2013-14. However, the modest recovery of the overalleconomy during 2013-14 was mainly supported bygrowth in the tertiary sector.

The state has a strong eco-system, broad-basedmanufacturing sector and a bounding service sector.It has been in the spearhead of investing in socialinfrastructure and solidifying quality economicinfrastructure. Its development record in both ruraland urban areas has been comprehensive andunbiased. It has been pursuing various policies thatpromote economic development. The state isalready an information and knowledge hub and hasbeen implementing various schemes and programsfor employment generation. It has the highest credit-deposit ratio in India and has a fundamental strengthto attract investments from domestic and foreigninvestors.

Taking ahead the Tamil Nadu Vision 2023, the State isat the forefront of rapid industrialization and isexpected to regain its growth momentum in the nearfuture. Global Investors Meet organized byGovernment of Tamil Nadu on 9th & 10th September,2015 is an endeavor to realize the State’s vision ofinclusive growth through investment inflows, growthin employment, balanced regional development andenvironmentally sustainable long term developmentand in maintaining the State’s position as one ofIndia’s most preferred investment destinations.

(Source – CMIE)

Exports:

Tamil Nadu’s share in the country’s total exports rosefrom 9.0% in 2010-11 to 11.5 % in 2013-14. The state’sexports totaled US $ 35.9 billion in 2013-14.

IT exports from Tamil Nadu increased from US $ 7.1billion in 2007-08 to US $ in 2012-13 (Estimates),registering a CAGR of 15.7 %. The majority of softwareexports from Tamil Nadu consist of applicationsoftware.

Tamil Nadu Global Investors Meet (GIM) 20159th and 10th September, 2015,

Chennai Trade Centre, Chennai, Tamil Nadu.

The Madras Chamber of Commerce & Industry is one of the PartnerOrganizations for Global Investors Meet 2015 to be organized by theGovernment of Tamil Nadu on 9th and 10th September 2015 at Chennai TradeCentre.

The Chamber is privileged to organize two important Seminars as below onSeptember 9th, 2015:-

· Think Tamil Nadu – Ease of Doing Business in India & Tamil Nadu· Overview of Tax and Regulatory Framework in India and Tamil Nadu

GIM 2015 provides you an opportunity to participate in seminars and in the exhibition . Please visit www.tamilnadugim.comto register and participate in this Mega event. Participation is subject to the confirmation from the Organizers.


The Committee regularly met every month and held12 meetings during the year under review. Apart fromthe various regular reviews, consultations anddiscussions, the deliberations centered around someof the items as follows:-

Companies Act 2013 and Notified Rules effectivefrom 1st April 2014.

A two day workshop on Companies Act 2013 andNotified rules held in the month of April 2014 had awonderful response from participants anddeliberations were very effective. The Committeeafter detailed discussions concluded that theChamber should focus on 4 to 5 key provisions thatwould affect the Corporate in terms ofimplementation and compliance etc., and make thepresentation.

After a few internal discussions by the ExpertCommittee on Company Law/Corporate Affairs, adetailed representation has been forwarded to theMinistry of Corporate Affairs.

Skill Development

The Chamber’s efforts to strengthen the activitiesof the Vocational Training and Skill DevelopmentCentre were discussed in detail and varioussuggestions were given by the Committee.

The plan is to offer short term technical courses andcustomized programs for the member industries andalso vocational courses for different skills like welding,plumbing, electrical, etc., for the youth. In addition,employability training for fresh graduates / studentswould also be offered under the Skill DevelopmentProject. As on date, on a pilot scale, the classes arebeing conducted on select courses like Computer /Tally / Fitter etc in a rented place at Tiruvallur.

Further, the Committee was appraised of themeeting with Mr. C. Samayamoorthy IAS, ManagingDirector, Tamil Nadu Skill Development Corporationwho informed about the Government funding ofRs. 2.5 crore interest free loan to develop theexisting ITI along with big industries, with themoratorium period of 10 years. The Chamber is alsoin touch with NSDC, New Delhi, for their suggestionsto develop the MCCI institute.

Suggestions were made to look into differentworkable models such as TVS School Model, NTTFmodel, ICT Academy, etc., to understand anddevelop an appropriate model for our Centre.Further, it was suggested to look at this as a businessmodel and have a credible partner to take forwardthe activities of the SDC and to make it self-sustainable.

After a lot of deliberations, it was agreed to identifythe operating partner (a leading member company)to avail the government schemes apart fromidentifying the customer or end users of this Skilldevelopment training, by evaluating therequirements of the Industries. The last step wouldbe to source for funding, especially the variousGovernment schemes.

One of the major activities on the aspects of SkillDevelopment is to launch a Diploma in Global TradeManagement for the year 2015-2016. Specialisedcurriculum with focus on the practical aspects hasbeen designed for the course.

MCCI Program for Women Corporate Directors

Another major effort by the Chamber is the proactivelead role the Chamber took in developing competentand board ready Women Directors who could jointhe Boards of Companies and play an effective role.

Based on the various discussions in the committeeand spearheaded by a subcommittee headed byMs. Gayathri Sriram, the Chamber launched a WomenDirectors Forum (WDF) which would mentor andgroom women directors for now and future. The ideais to develop at least 100 competent board readywomen directors by March 2016, who would beequipped with necessary knowledge and skills to beinducted into corporate boards, by not only providingtraining, but also handholding throughout the year,enabling them to contribute as a Director to therespective Boards of Companies.

The Chamber proposes to build a database whichcould be referred by member companies whileselecting women directors for their boards.

As a first step, an Advanced training Program forAspiring Women Directors was held in February 2015,wherein 26 high profile women from diverse fieldstook active part.

GENERAL COMMITTEEMEETINGS


As a responsible Chamber of Commerce, the MCCIhas made a sincere beginning to support the causeof the Government in bringing diversity in BoardGovernance, and would continue to ensure thatwomen take active and deserving role in boardManagement.

Global Investors Meet 2015

The Chamber is one of the Partner Chambers withthe Government of Tamil Nadu in organizing GIMwhich is to be held on September 9th and 10th inChennai. Further, the Chamber is also part of theSeminar Committee constituted under theChairmanship of the Principal Secretary, Planning and

Development Department, among variouscommittees formed to provide an institutionalframework for the conduct of GIM. The Chamberwould be responsible for conducting the followingseminars:-

Think Tamil Nadu – The Ease of doingbusiness in Tamil Nadu

Overview of Tax and Regulatory frameworkin India and Tamil Nadu

The Chamber would be extending its full support tothe success of GIM 2015.

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SPECIAL PROGRAMS

Ms.Mallika Srinivasan, Chairman & CEO, TAFE, hadbeen conferred the Padma Shri Award in recognitionfor her outstanding contribution to Trade & Industry.

Both the Madras Chamber of Commerce & Industry(MCCI) and the Madras Management Association(MMA) have had the privilege of having Ms.Mallikaas their President. Therefore it was considered fittingto jointly organize a Felicitation Function to honourMrs Mallika Srinivasan. The function was organizedon Wednesday, April 30, 2014 at the Ball Room Hall,Hotel Hyatt Regency.

Mr.T.Shivaraman gave the welcome address andquoted Mr. Sivasailam’s words “Excellence is not justsomething that we engineer, inspect and input intoour products. It is an innate desire to obtain the bestthat comes from within each one of us. It definesour lives at work and at home and ripples out into theworld around us.” He then stated that Ms. Mallikahas lived up to her father’s expectations.

Mr. N.Murali stated that though rooted firmly in thetraditions of the business family, Ms. Srinivasan hadinjected modernity and led TAFE on the path ofgrowth.

Mr. R.Seshasayee, in his felicitation address statedthat the Amalgamations group, with its traditionalbusiness values and ethics were also strong inmodern technology and processes.

Mr.A.Krishnamoorthy offered his congratulations toMs. Mallika. He stated that in the foundation laid byMr.Sivasailam, Ms. Mallika has made her contributionto raise the company to global standards.

Mr. V iji Santhanam informed that underMs. Mallika’s leadership, TAFE had evolved from alow key player to being one of the largestmanufacturers of tractors globally. In addition tobusiness acumen, she also focused on corporatesocial responsibility, and supported education andhealth care initiatives.

30th April 2014Felicitation Function to Ms. Mallika Srinivasan on conferment

of Padma Shri Award

Mr. Srinivasan K Swamy introducing Ms. Mallika Srinivasan (seated 5th from left) formally to the audience.)Others in the picture – (L to R) Mr. N. Srinivasan, Sr. Partner, Fraser & Ross/Deloitte Haskins & Sells, Mr. A.Krishnamoorthy,Chairman, Amalgamations Group, Mr. R.Seshasayee, Exe.Vice Chairman, Hinduja Group India, Mr.T.Shivaraman, MD & CEO,Shriram EPC Ltd., Mr. Srivats Ram, MD, Wheels India Ltd., Mr. N. Murali, Co- Chairman, Kasturi & Sons Ltd.,Mr. Viji Santhanam, MD, Brakes India Ltd., Mr. C.V. Karthik Narayanan, Chairman, Ucal Products Pvt. Ltd.


A view of the audience

Mr.T.Shivaraman and Mr. Srivats Ram handing over the memento to Ms. Mallika Srinivasan

Ms. Mallika Srinivasan addressing the audience.

Mr. N.Srinivasan spoke not only as a close friend ofthe family but also as a strong admirer of the family.He admired the zeal and passion in which Ms.Mallikasteered TAFE to where it stands today. He gave acitation commending her name which was presentedto Ms. Mallika.

Mr. Srinivasan K Swamy formally introducedMs. Mallika Srinivasan by narrating a few personalincidents.

Mr.Karthik Narayanan in hisfelicitation address spokeabout the doyens ofindustry who shaped thepolicies of the Government,one of them beingMr. Anantharamakrishnanwho was ably assisted by hissons Mr. Sivasailam andMr. Krishnamoorthy. Hestated that the family’sculture, courtesy andkindness has been passed onto Ms. Mallika who iscontinuing to give the samevalues to the nextgeneration.


Ms. Mallika Srinivasan, while accepting thefelicitations, expressed that it was a very emotionalmoment for her to accept such appreciation andpraise from eminent personalities.

She thanked the Chamber and MMA who havealways played an important role in developing theeco system to flourish in the State. She stated thatshe was fortunate to have been associated with boththe organizations in her formative years.

She spoke eloquently on the topic, “My experientialjourney in building a sustainable manufacturingenterprise in the face of global competition” .

She informed that when the markets opened in the90’s, there was a sense of insecurity andapprehension about the ability to cope in the face ofemerging multinational entry in our country. It wasnot different in TAFE. However, after 15 years, TAFEhas the necessary skill sets, strategies, andapproaches in building international presence whilesimultaneously driving growth and sustainable profitlocally.

Rather than being in awe of technology prowess ofmultinationals, TAFE played to its strength and usedits local knowledge in understanding the market. Thecompany had also adapted the lessons to expand

abroad.

The key to the success of TAFE was its investment intechnology. She urged the Indian companies to moveforward with ambition and vision in institutionalizingthe organization and building manufacturingenterprises.

Her advice for the Indian companies was not to rushfor joint ventures to get access to technology. Ratherthe companies should demystify technology andinvest to build capability.

Ms. Mallika informed that the Amalgamations grouphad introduced 50 new variants into the exportmarket which included larger tractors, narrowtractors, orchard tractors in the most sophisticatedmarkets spanning over 75 countries in the last year.

She concluded by stating that Indian companies canmove forward with an ambition, a focused approach,and a relentless pursuit to outperform globalcompletion in a sustained way.

She thanked the Chamber, MMA, the participantsand those who offered warm felicitations, goodwishes and for the opportunity to be amidst all ofthem.

Ms. Nirmala Sitharaman, Minister of State(IC) Ministry ofCommerce & Industry interacting with MCCI Members

Mr. T. Shivaraman making a presentation

14th June 2014Meeting with Ms. Nirmala Sitharaman, Minister ofState(IC) , Ministry of Commerce& Industry, GOI

The Madras Chamber of Commerce delegation withmore than 25 Senior Representatives of membercompanies had an exclusive interaction meeting withMs. Nirmala Sitharaman, Minister of Commerce &Industry, Government of India during her visit to

Chennai on 14th June 2014 at Hotel ITC Grand Chola.Mr. T.Shivaraman, President, MCCI made apresentation wherein critical issues relating to EXIM,Direct Taxes, Indirect Taxes, the Companies Bill werehighlighted to the Minister with a request to reviewthe same to ensure the seamless growth of Tradeand Commerce. The Minister interacted with everymember who represented the Chamber.


Madras Chamber of Commerce & Industry (MCCI)and the Madras Management Association (MMA)have had the privilege of having Mr. N.Srinivasan,MD India Cements Ltd., associated with them andhence considered it f it to jointly organize afelicitation function to honour him upon hisappointment as the First Chairman of the revampedInternational Cricket Council (ICC). The function wasorganized on 15th July at the Ball room Hall, HotelHyatt Regency

Felicitations were offered by

Mr. A. Vellayan, Executive Chairman, MurugappaGroup

Mr. Anirudh Chaudhary – Hon. Treasurer, BCCI

Mr. Gopal Srinivasan, Chairman & Managing Director,TVS Capital Funds Ltd

Mr. P.S. Raman – Vice President (Chennai) TamilNadu Cricket Association

Mr. Venky Rajgopal, Managing Director. IndianTerrain Fashions ltd

Mr. V.V.S. Laxman, Former Indian Cricketer

Mr Srinivasan K Swamy, Past President MCCI & MMApresented the citation to Mr. N.Srinivasan

15th July 2014MCCI & MMA – Felicitation Function to honour

Mr.N.Srinivasan, Chairman ICC

Mr. T.Shivaraman, President, MCCI and Mr. Raju Venkatraman, President, MMA handing over the memento to Mr. N.Srinivasanin the Felicitation function to honor him on being appointed as Chairman, International Cricket Council


support from members of BCCI and thanked MCCIand MMA for organizing this felicitation.

The program was well attended by over 250participants.

The welcome speech was given by Mr T Shivaraman,President MCCI and vote of thanks was proposed byMr Raju Venkatraman, President, MMA.

Those who offered felicitations on the dias along with Mr.T.Shivaraman, President, MCCI, Mr.N.Srinivasan, Chairman, ICC andMr. Raju Venkataraman, President, MMA (4th to 6th) – L to R : Mr. V.V.S. Laxman, Former Indian Cricketer, Mr. P.S.Raman, VicePresident (Chennai) TN Cricket Association, Mr. A. Vellayan, Executive Chairman, Murugappa Group, Mr. Anirudh Chaudhary,Hon. Treasurer, BCCI, Mr. Venky Rajgopal, Managing Director, Indian Terrain Fashions Ltd. Mr. Srinivasan K Swamy, CMD, R KSwamy BBDO Pvt. Ltd.

A view of the audience.Mr. N.Srinivasan addressing the audience.

Mr. N.Srinivasan in his acceptance speech statedthat he was overwhelmed by the kind sentimentsexpressed by his friends and added in a lighter vein,not to believe in each and every word of what theysaid, as they are all friends after all.

He said that bringing people back to the cricketground and making cricket more competitive wouldbe a major focus area for the ICC. He thanked the


honored by the Chief Guest and his contribution tothe Chamber in the last two years was greatlyappreciated and lauded by everyone present.

BUSINESS SESSION

Mr. T. Shivaraman, President, chaired the meetingand conducted the proceedings. He apprised themembers about the various initiatives and activitiesof the Chamber during the year.

Mr. S.G.Prabhakharan, Chairman XS Real PropertiesPvt. Ltd. and Mr. Ram Venkataramani, ManagingDirector, IP Rings Ltd, were elected as President andVice President respectively for the year 2014-2015.

24th July 2014178th AGM of the Chamber

at Hotel Hyatt Regency

The Business session conducted in the forenoon, hada few important resolutions passed and the newlyconstituted Committee for the year 2014-15 wasannounced. After lunch, the Public Session was held.The Chief Guest, Mr.U.K.Sinha, Chairman, Securitiesand Exchange Board of India (SEBI), addressed theaudience and the special address was given byMr. Sunil Subramaniam, Dy CEO, Sundaram AssetManagement Co.Ltd.

Both the Business and Public sessions were wellattended by 200 participants. The TN VAT course wasalso launched during this session.

Also Mr. T.Shivaraman, the outgoing President was

Mr. T. Shivaraman welcoming the newly elected Vice PresidentMr.Ram Venkataramani with a bouquet of flowers

Mr. T. Shivaraman welcoming the newly elected PresidentMr.S.G. Prabhakharan with a bouquet of flowers

Mr. Sunil Subramanian, Dy. CEO, Sundaram AssetManagement making a presentation

Mr. S.G. Prabhakharan, President delivering his first addressas President to the audience


PUBLIC SESSION

In the Public Session of the 178th AGM,Mr. T.Shivaraman, President gave the welcomeaddress

He extended a warm welcome to Mr. U.K. Sinha,Chairman, Securities and Exchange Board ofIndia,(SEBI) and Mr. Sunil Subramaniam, DeputyChief Executive Off icer, Sundaram AssetManagement Co. Ltd.

He touched upon a few activities keeping in focusthe Chamber’s efforts for championing the cause ofIndustry.

Mr. Sunil Subramaniam, Deputy Chief ExecutiveOfficer, Sundaram Asset Management Company Ltd.delivered his address on the present economy,impact of budget and markets.

His address covered how the recent past has beenchallenging, the elections results being a gamechanger. On the development agenda, the focus ofthe Government was elaborated.

Mr. U.K.Sinha, Chairman, Securities and ExchangeBoard of India (SEBI), delivered the Chief Guestaddress. On issues of compliance with regulationsby the Corporate sector, he compared the state ofregulation in the country with that of developedmarkets

His message was clear to the Industries that it isessential to spend time on compliance rather than indefending violations later. His address wasappreciated by the participants and the mediadevoured every word uttered by Mr. Sinha.

Mr. S.G.Prabhakharan, President, MCCI delivered thevote of thanks.


Mr. T.Shivaraman presenting the memento to the Chief GuestMr. U.K.Sinha. Others in the picture are (L to R) : Mr. SuniSubramanian & Mr.S.G.Prabhakharan

Mr. U.K.Sinha, Chairman, Securities & Exchange Board of India(SEBI) delivering the Chief Guest Address


The Founder’s day of the Chamber, called theChamber Day was celebrated on Monday, 29thSeptember 2014 at Hotel Hyatt Regency.

Mr. S.G. Prabhakharan, President gave the welcomeaddress. He mentioned about the Study of theChamber, “Manufacturing in Tamil Nadu – ARegulatory Road Map” which was taken up tounderstand the ease or unease of doing business.He stated that regulatory issues were consideredcumbersome with most of the laws being ambiguous,leading to delays, litigations and financial losses. Headded that our focus should be to make regulationssimple, clear and relevant facilitating compliance andnot on penalising.

He briefed about the importance of SMEs andunincorporated sector and referred to the book by

Prof. Vaidyanathan on India unincorporated andstated that savings comes from households andunincorporated sectors which lead to investments.He further added that skill development andeducation for these sectors has to be provided fortheir growth.

He concluded by requesting Dr.Arvind Mayaram tohighlight upon some of the priorities of theGovernment in the next budget.

Dr. Arvind Mayaram, Secretary, Ministry of Finance,Department of Economic Affairs, congratulated theChamber for celebrating its 178th Year. In hisaddress, he talked about the present economicenvironment of the country in comparison to othercountries. He informed that while the Centre canaddress the overall economic environment, actual

29th September 2014CHAMBER DAY

Guest of Honor, Mr. Bharat Joshi, Deputy High Commissioner,British Deputy High Commission addressing the audience

Mr.S.G.Prabhakharan, President, MCCI greeting the ChiefGuest Dr.Arvind Mayaram, Secretary, Ministry of Finance,Department of Economic Affairs with a bouquet of flowers.

Dr.Arvind Mayaram delivering the Chief Guest AddressMr. M.Vel Murugan, Executive Vice Chairman, Tamil NaduPromotion and Guidance Bureau making a presentation


Dr. Arvind Mayaram presenting the Service Awards to Ms.Bernie Highland and Mr. A. Elumalai

A view of the audienceMr. S.G. Prabhakharan cutting the cake to celebrate the 178thbirthday of the Chamber

Mr. Bharat Joshi was the Guest of Honor. Hecongratulated the Chamber for being active in itsservice to Industry in the 178th year and informedthat it reflects the dedication of members.

Mr. M. Vel Murugan, Executive Vice Chairman, TamilNadu Export Promotion and Guidance Bureaurepresented Mr.C.V.Shankar, Principal Secretary,Government of Tamil Nadu. He made a presentationon Tamil Nadu Growth story, and new initiatives ofthe Government to attract more investments in toTamil Nadu.

The Chamber gave service awards to Ms. BernieHighland, Manager – Trade Facilitation andMr. Elumalai, Support Staff for completing 30 yearsand 15 years of service respectively in the Chamber.

Mr. Ram Venkataramani, Vice President proposedthe vote of thanks.

The meeting was attended by over 150 members andinvitees.

investments happen at the State level. Hence theState Governments should create a facilitatingenvironment for growth. It is up to the StateGovernments to implement reforms to fully exploitthe opportunity presented by the CentralGovernment’s initiative to create an investmentfriendly climate.

He added that India is moving towards a regimewhere interest rates must come down. Once inflationcomes down, savings would go up and that wouldcreate liquidity for lending mainly to small andmedium scale businesses.

Mr. Mayaram informed that the Centre will requestStates to introduce Self-Certification or third partyinspection in place of government inspections ofcommercial enterprises to reduce the paper workand physical verification. However, filing of wrongcertificate should attract stringent penal actions. Hefurther added that corruption can be stopped only ifeveryone cooperates.


The Chamber had organized a very successfulmeeting with Hon’ble Minister Mr. Nitin Gadkari,Minister of Road Transport & Highways and Shippingon 3rd November 2014 at Hotel ITC Grand Chola.

Mr. S.G.Prabhakharan, President,MCCI welcomedthe gathering. He briefly explained about the

3rd November 2014Interaction meeting with Hon’ble Minister Mr. Nitin Gadkari,

Minister of Road Transport & Highways and Shipping

involvement of the Madras Chamber, especially inrelation to Ports and its activities. He took theopportunity to request the Minister to ensure thatChennai Port is “re-enabled” to be the Premier Portin Southern India. Further, he requested the ministerfor speedier completion of the EMRIP project.

Mr. S.G.Prabhakharan welcoming the Hon’ble Minister Mr. Nitin Gadkari, Mr. Pon Radhakrishnan,Minister of State for Road Transport & Highways and the gathering

Hon’ble Minister Mr. Nitin Gadkari addressing during the meeting

A concise presentationon the issues/concernsrelating to TransportSector presented by Mr.J.Krishnan, Chairman,Logistics Committee wasgreatly appreciated by alldelegates and wellcovered by the Press.

Mr. Nitin Gadkari’saccount of what he haddone in the roadways,especially in Maharastraand what he intends to dofor other States as well,was appreciated by theparticipants. Mr. Gadkariin his address promised togive Rs.50,000 crores toTN for infrastructureprojects, if assured landby the State Government.He further informed thatif the State cooperateswith the Centre, theinfrastructure projectswhich are stalled wouldbe speeded up. He said,that of the 12 projects thatare currently stalled in theState, work has startedon 10 of the projects.Asserting that theGovernment is notsupposed to run


ended on a positive note stating he would look intothe issues raised by the Chamber on the whole.

The program was well attended by more than 180participants.

Mr. J. Krishnan, Chairman, Expert Committee, Logisticsmaking a presentation

Mr. S.G. Prabhakharan presenting a memento to Hon’bleMinister Mr. Nitin Gadkari

A view of the audienceMr. Vijay Sankar, Member –GC proposing the vote of thanks

business, but administer and frame policy, he assuredthat the pending projects would be expedited toachieve the 2% increase in GDP in the next two years.He further assured that he would provide a majorport at Colachel in Kanyakumari District. Mr.Gadkari

Mr. M. A. Bhaskarachar, Chairman & Managing Director,Kamarajar Port Ltd., presenting the award. Mr. T.Shivaraman,Mr. J. Krishnan and Mr. S.G. Prabhakharan receiving the sameon behalf of the Chamber

27th June 2014South East CEO Conclave Awards 2014

The Chamber has always been actively involved inthe development of Ports which play a vital role inthe economic progress of the Nation. The Chamber’sservice to the Maritime Sector was speciallyacknowledged and recognized when the South EastCEO Conclave Award by the Exim India ShippingT imes was awarded to the Chamber for itsoutstanding contribution to the Exim Trade.

Awards and Accolades

This is the first time that theaward which is meant for thosein the Maritime, Cargo andLogistics Industry has beengiven to the Chamberrecognizing the pivotal roleplayed in Exim Trade.


20th - 21st February 2015Advanced Training Program for Aspiring Women Directors

the demands of the recently amended CompaniesAct.

Great Lakes Institute of Management (GLIM) , a wellreputed business school, providing top qualitycontinued management learning to corporateleaders was the knowledge partner for this exclusivetraining program held on February 20th and 21st 2015at Hotel Raintree, Chennai.

The aim is to create a pool of competent, board readywomen directors, who would be equipped withnecessary knowledge and skills to be inducted intocorporate boards.

Under the leadership of Mr. S.G.Prabhakharan,President, MCCI, Ms.Gayathri Sriram, MD, Ucal AutoPvt. Ltd, Member, General Committee of theChamber initiated this high level training program withthe Sub Committee having Mr. V. Ranaganthan andMr. P.Viswanathan as its members.

The Chief Guest for the inauguration wasH.E. Mr. Achim Fabig, Consul General, Germany. Inhis inaugural address he expressed appreciation forthe Chamber’s initiative with regard to this programand added that India is not alone in this directionsince even in Germany, a legislation has beenintroduced that mandates Corporate Boards to have30% women representation by end of 2016. Heconcluded by encouraging corporates to go all outand appoint women.

The Technical Sessions were conducted by expertsfrom GLIM and MCCI as follows:-

The Companies Act 2013 came up with variousamendments, provisions for the functioning ofCompanies. It mandated that every listed companyand every public company with a minimum paid upshare capital of Rs.100 crore or an annual turnover ofat least Rs.300 crore should appoint at least oneWoman Director with the deadline being March 31,2015. As a direct consequence of this law, there willbe a great demand for women who are capable oftaking on such responsibilities and executing themappropriately.

The Madras Chamber of Commerce & Industry, in its179th year of service to Trade and Industry, launcheda unique initiative to commemorate the InternationalWomen’s Day celebrated on March 8th. The aim isto empower Women in the Corporate World.

The unique, first of its kind program is testament tothe Chamber’s visionary perspective, as it catered to

Ms. Gayathri Sriram, Member-GC addressing the participants

Ms. K.Saraswathi briefing the participants about the TrainingProgram

Mr.S.G. Prabhakharan greeting the Chief Guest H.E.Mr. AchimFabig, Consul General, Germany, Chennai


· Dr.Suresh Srinivasan on Strategic Outlook

· Mr.Sam Murali Prasad on Company Law andResponsibilities of Board Members

· Prof. Shanti Srikant on Corporate Finance

· Dr. G. Radhakrishnan on Assertiveness andEffective Communication

In the Valedictory function, Mr. Ram Venkataramani,Vice President of the Chamber stated that it is a timelyprogram organized by the Chamber. He pointed outthat women board members can bring in the much

26 high profile participants with the Organizers – MCCI and GLIM

Dr. Ranjana Kumar, Former CMD, Indian Bank addressing theparticipants after launching the Women Directors Forum

needed diversity to the Board and new perspectivesto the Board room discussions.

The Chief Guest Ms. Ranjana Kumar, former CMD,Indian Bank and currently Chairperson Advisory Boardon Bank, Commercial and Financial Frauds (ABBCFF)launched the Women Director’s Forum. In heraddress, she emphasized the need for womenDirectors to thoroughly understand the roles theyhave to play in bringing values to companies as wellas to shareholders and also about the companies andthe Industries in which they would be activelyinvolved. As part of the valedictory function, the logofor the Women Directors Forum was launched.

There were 26 women participating from diversefields. Joint Certif icates by MCCI and GLIM wereissued to the participants. The feedback from theparticipants was also positive and this was the firstsuccessful step in developing a database of 100“Board ready” women by the end of 2015. Thisexclusive program is not a one-time exercise and theChamber would be having regular follow up sessions,the first of which, on finance, being scheduled forthe month of April 2015.

The program received wide coverage in leadingnewspapers.


Mr. S. G. Prabhakharan, President, MCCI representedthe Chamber at the meeting of the British BusinessGroup at London.

The BBG meeting was arranged between March 16,2015 and March 19, 2015 in London, to enhance trade

16th-19th March 2015British Business Group (BBG) Meeting at London

and business between UK and Tamil Nadu. He hadthe privilege of addressing the UK Delegates in amajor conference organised by BBG at the Housesof Parliament on March 17, 2015. The visit ended withthe networking dinner by BBG on 19th March.

Mr. S.G.Prabhakharan, President, MCCIaddressing in the House ofParliament, UK as part of BBG UK IndiaSummit

A view of the participants in theBBG UK India Summit at the

House of Parliament, UK


10th & 11th April 2014Workshop on Companies Act 2013 & Notified Rules

FLAGSHIP ACTIVITIES

The resource persons were:Ms. B. Chandra, Practicing Company Secretary,ChennaiMr. P. Sriram,Practicing Company Secretary, ChennaiMr. P. Viswanathan, Secretary & Compliance Officer,Sundaram Finance Ltd. and Co-Chairman – MCCIExpert Committee on Company Law/Corporatematters.

To keep members abreast with the rules and itsimplementation, a two day workshop on CompaniesAct 2013 and Notified Rules was organized by theChamber at Hotel Raintree, Chennai.

18 chapters were dealt with in detail by practicingCompany Secretaries, Senior Advocates and industryexperts and the program was well received by about50 participants.

Ms. Bhavani Balasubramanian introducing the first Speakeron Day 1 - Ms. B. Chandra, Practicing Company Secretary,Chennai

Mr. P. Sriram,Practicing Company Secretary, Chennai makinga presentation

Mr. P. Viswanathan, Secretary & Compliance Officer,Sundaram Finance Ltd. and Co-Chairman – MCCI ExpertCommittee on Company Law/Corporate matters addressingthe audience

Dr. B. Ravi, Practicing Company Secretary, Chennai making apresentation


Mr. P. H. Arvindh Pandian, Senior Advocate &Additional Advocate General of Tamilnadu

The ROC, Chennai was the Chief Guest for theValediction. He stated that the changes in theCompanies Act 2013 have been brought about with aholistic approach to satisfy the overall needs ofshareholders, stakeholders and corporate. Hedistributed the certificates to the participants.

Dr. B. Ravi,Practicing Company Secretary, Chennai

Ms. Bhavani Balasubramanian Partner,DeloitteHaskins & Sells & Chairperson, MCCI ExpertCommittee on Company Law/Corporate Matters

Mr.K. Vaitheswaran, Advocate & Tax Consultant,Chennai

Mr. A. M. Sridharan, Practicing Company Secretary,Chennai

Mr. P. H. Arvindh Pandian, Senior Advocate & AdditionalAdvocate General of Tamilnadu addressing the audience

Mr.K. Vaitheswaran, Advocate & Tax Consultant, Chennai making a presentation

Mr. A. M. Sridharan, Practicing Company Secretary, Chennaiaddressing the audience


Mr. M.R. Venkatesh, Partner, GSV Associates &Chairman,MCCI Expert Committee on EconomicAffairs, analysed the budget from themacroeconomic angle.

Mr.K.Vaitheeswaran, Advocate & Tax Consultant andChairman, MCCI Expert Committee on IndirectTaxes, presented the analysis of the budget onIndirect Taxes

Dr. Subir Gokarn, Former Dy. Governor, RBI andDirector, Research of the Brookings Institution, NewDelhi made a special presentation on the budget andinteracted with the audience through skype and thesession was greatly appreciated by the delegates.

The program was very well attended despite the factthat many similar events have been happeningaround the same time organised by differentChambers.

As is the practice of the Chamber, a Workshop onCentral Budget & Finance Bill 2014-15 was organizedon 12th July 2014 at Hotel GRT Grand, following therelease of the Union Budget on 10th July by theFinance Minister, Government of India.

Mr. Sriram Seshadri, Partner, BMR Legal andChairman, MCCI Expert Committee on Direct Taxes,made the analysis on Direct Taxes

12th July 2014Workshop on Central Budget & Finance Bill 2014-15

Mr. M.R.Venkatesh, Chairman,Expert Committee –Economic Affairs,addressing the audience.

Dr. Subir Gokarn, Former Dy. Governor, RBI and Director-Research of the Brookings Institution, New Delhi making apresentation via skype

Mr. N.Venkataraman, Senior Advocate addressing theaudience. (third from left) Others in the picture are(L to R ): Mr.K.Vaitheeswaran, Member – GC and Chairman,Expert Committee on Indirect Taxes, Mr.T.Shivaraman,Immediate Past President and Mr. S.G.Prabhakharan,President, MCCI

Mr. Sriram Seshadri, Chairman,Expert Committee – DirectTaxes making a presentation



Technical Session -� �� – Reforming & Rationalisingthe Power Sector for accelerating Economic Growth

Chaired by Dr. M.K.Iyer, Member, Gujarat StateElectricity Regulatory Commission

Mr. Anand Madhavan, DGM, ICRA ManagementConsulting Services Ltd.

Mr. Vishal Pandya, Director, RE Connect Energy

Mr. Anil Kumar Meena, Dy. Chief Design Engineer –CTU – Planning, Power Grid Corporation of India

Mr. Sunil Varma Marri, Head, Energy Practice,IMACS, New Delhi

One of the Flagship activities of the Chamber is theMCCI-IEF conference on Energy-Economy-Environment.

Mr. S.G. Prabhakharan gave the welcome address.The conference was inaugurated by Mr. Anil RazdanIAS (Retd) Former Secretary, Power, GoI. Whileaddressing the participants, he stressed on the needfor Tamil Nadu to go in for the gas grid and spokeabout the importance of nuclear energy for theNation’s energy Security.

Mr. Raghuttama Rao, MD, ICRA ManagementConsulting Services Ltd and a GC member made apresentation on TN Energy Status and set the tonefor the Conference. IMaCs was the knowledgepartner for the Conference.

5th September 2014MCCI – IEF Conference on Energy- Economy – Environment

Mr.Raghuttama Rao making a presentation on TN EnergyStatus

The inaugural was followed by 4 Technical Sessionswhich had the following eminent speakers

Technical Session - � – Power Generation &Distribution – Current Capacities, Opportunities &Challenges

Chaired by Mr. Anil Razdan IAS Retd., FormerSecretary, Power, GoI

Mr. Atul Sobdi, Director, Power, BHEL

Mr. Ravikumar K, Independent Director,RelianceInfrastructure Co. Ltd.

Mr. R.Venkateswaran, ED – Southern Region, NTPC

Technical Session I – Mr. Anil Razdan chairing the session(third from left) Speakers from L to R: Mr. R. Venkateswaran,Mr. Atul Sobti and Mr. K.Ravikumar

Technical Session II – Mr. M.K.Iyer chairing the Session (fourthfrom left)Speakers from L to R: Mr. Anil Kumar Meena,Mr. Vishal Pandya, Mr. Anand Madhavan and Mr. Sunil VarmaMarri


Technical Session -�� Green Energy & AlternateOptions Chaired by Mr. Rajeev Katyal, DeputyDirector General, Centre for W ind EnergyTechnology, Chennai

Mr. Pasupathy Gopalan, President, Asia Pacif ic,Middle East & South Africa, Sun Edison

Mr. Boovarahan Thirumalai, CEO, Aspiration EnergyPvt Ltd.

Mr. Madhukumar, Gamesa Wind turbines Pvt Ltd.,

Mr. S. Venkatachalam, MD, OGPCL

Mr. M. Venkatachalam,MAPS

Mr. Veda Vyasa Rao, VP (Infrastructure) SBI CapitalLtd, Bangalore

Technical Session – �� Chaired by Mr. Anil Razdan,Former Secretary, Power, GoI

Dr. Ashok Kumar, Energy Economist, BEE, NewDelhi

Mr. L. Venkatesh, C R Narayana Rao LLP

Mr. S. Narasimhan, Co Founder & Director, EnergyAlternatives India.

The conference on Energy- Economy – Environmentattended by over 80 participants was power packed.


Technical Session IV – Mr.Anil Razdan chairing the Session(fifth from left) Speakers from L to R: Mr. Amarjit Singh,Mr. S. Narasimhan, Dr.Ashok Kumar and Mr. L Venkatesh

Technical Session III- Mr. Boovarahan making a presentation.Speakers from L to R: Mr. M.Venkatachalam, Mr.Veda VyasaRao, Mr. S. Venkatachalam, Mr. Rajeev Katyal (Chairperson)Mr. Pasupathy Gopalan and Mr. Madhukumar


The workshop was organized under the auspices ofthe Expert Committee on Indirect Taxes and VAT on17th & 18th October 2014 at Hotel GRT Grand. Thishas been one of the annual flagship events of theChamber for the last few decades.

Mr.S.G.Prabhakharan welcomed the gathering.

Mr. K.Vaitheeswaran, Advocate & Tax Consultantand Chairman, MCCI Expert Committee on IndirectTaxes gave an overview of the two day workshop.He briefly introduced the topics and the speakersand set the tone for the workshop.

Mr. K.Anantha Padmanabhan, IRS ChiefCommissioner of Central Excise, Chennai, was the

17th & 18th October 2014Two Day All India workshop on Indirect Taxes

Special Economic Zones – Ms.Bargavi NatesanPast, Present & Future Chartered

Accountants,Partner, SPR & Co.

Partial and Joint Reverse Mr.R.AnandCharge Mechanism – Manager-IndirectApplicability, Practice & TaxesProcedures L & T Construction,

Chennai

Joint Ventures-Consortium Mr.Prashanth Bhat,–SPV-VAT & Service Tax Director,implications BMR & Associates LLP,

Bangalore

Mr.S.G.Prabhakharan greeting Chief Guest Mr. K. Anantha Padmanabhan, IRS, ChiefCommissioner of Central Excise, Chennai, with a bouquet of flowers

Mr. P.R.Subramanian, Chairman, Expert Committee VAT proposing the Vote of Thanks

Chief Guest. In his address, heappreciated the efforts of theChamber to organize this two dayworkshop on Indirect Taxes. Hementioned a few cases wherehe had taken personal interestand sorted out the issue in favourof the companies and assuredthat for genuine concerns orcases, his department woulddefinitely render all support andguidance.

Mr. P.R.Subramaniyan, DGM -Corp. Indirect Taxes, L & TConstruction Chennai &Chairman, MCCI VAT Committeedelivered the Vote of Thanks.

This was followed by 4 technicalsessions addressed by eminentSpeakers on a gamut of topicspertaining to indirect taxes asfollows:-

Technical Session – 1

Session Chairman:Mr.P.R.Subramaniyan, DGM-Corp. Indirect Taxes, L & TConstruction, Chennai &Chairman, MCCI VAT Committee


Stock Transfer Vs CST Sale Ms.AparnaAdvocate, Chennai Nandakumar

Advocate, ChennaiTechnical Session–III

Session Chairman: Mr.T.Amarnath, GeneralManager-Indirect Taxes, TAFE Ltd & Co-Chairman,MCCI VAT Committee

Slump Sale, Mergers – Mr.K.VaitheeswaranDemergers – Indirect Advocate & TaxTax and Stamp Duty Consultant & Chairman,Implications MCCI Indirect Taxes

Committee

Cross Border Transactions – Mr.B.SriramCase studies in Service Tax Partner,

Ernst & Young LLP

Service Tax Valuation – Mr.Girish RamanCase Studies Chartered Accountant,

Mumbai

Dominant Theory – Its Mr.N.Venkataramanrelevance in the light Senior Advocate,of L & T and Kone New DelhiElevators Decisions

Technical Session – IV

Session Chairman: Mr.CVS Krishna Kumar, Director-Corporate Affairs, Kone Elevator India Ltd. &Member, MCCI Indirect Taxes Committee

Technical Session –II

Session Chairman: Mr. P.R.Sudhakar, Sr. GeneralManager-Indirect Taxes, Brakes India Ltd. & PastChairman, MCCI VAT Committee

ENVAT and Input Tax Mr.Sathish .SCredit - Time limit for Director,Availment - Procedures PWC., Mumbai– Accounting andPractical Issues

Input Tax Credit-TNVAT Mr. K.K. Sekar–Threadbare Analysis of DGM-Indirect Taxes,Section 19 Ashok Leyland Ltd.,

Chennai

Day 1 - Technical Sessions - Ms. Bargavi Natesan making apresentation. Others in the picture – L to R : Mr. R. Anand,Mr. Prashanth Bhatt and Mr. P.R.Subramanian

Mr. P.R. Sudhakar Chairing the Session. Others in the pictureare (L to R) : Mr. S.Sathish and Ms. Aparna Nandakumar

Mr. K.K.Sekar, Co- Chairman, Expert Committee on IndirectTaxes making a presentation

Day 2 – Technical Session – Mr. N.Venkataraman (Secondfrom Left) answering a query. Others in the picture are(L to R) : Mr. Girish Raman, Mr. K.Vaitheeswaran,Mr. T. Amarnath & Mr. Rajaraman


Declared Services – Mr.Sunil GabhawallaIssues and Challenges Leader,

S B Ghabhawalla & Co.,Mumbai

Works Contract –Main Mr.P.PurushothamContractor –Sub Advocate &Contractor–TDS on Consultant & PastWorks Contract Chairman

MCCI VAT Committee

Customs-Special Mr.G.RaghushankarValuation Branch – Executive Director,Practice & Procedures International Clearing &

Shipping Agency (India)Pvt. Ltd., Chennai

In the valedictory session, Mr. Vaitheeswaransummed up the proceedings and gave concludingremarks about the workshop.

Mr. Sanjay Kumar Agarwal, IRS, Commissioner ofService Tax, Chennai was the Chief Guest for theValedictory Session. He stated that Service Taxdepartment is equally concerned about the concernsof the industry, just like its members. He added thatit is necessary to broad base and simplify the taxesand that steps are being taken in this direction.

The presentations and interactions were greatlyappreciated by the delegates. The program wasattended by more than 90 participants.

Mr. . Sunil Gabhawalla making a presentation. Others in the picture are(L to R) : Mr. Purushotham, Mr. C V S Krishnakumar & Mr. G. Raghushankar

Mr. K. Vaitheeswaran, Chairman, Expert Committee onIndirect Taxes summing up the two day sessions during theValedictory Session in the presence of Chief Guest Mr. SanjayKumar Agarwal, IRS, Commissioner of Service Tax, Chennai(seated second from left) Others in the picture are(L to R) : Ms. K. Saraswathi and Mr. P.R.SubramaniyanA view of the audience.


and that the focus of financial inclusion should be torestart credit flows.

Dr. Laveesh Bhandari, Chief Economist, IndicusAnalytics, gave the ground realities for achieving thetargets of growth and informed that a huge impacton the growth of the economy would be possibleonly after 5 to 8 years. He summarized the problemsof the past few years as deficit, inflation and thefailure of the PPP model and added that subsidiesand inflationary tendencies need to be checked. Heconcluded with a list of recommendations forreforms.

The response for the program was excellent and itwas attended by 80 participants

23rd December 2014Program on State of Indian Economy

As part of our pre budget runup program conducted everyyear, the Chamber held adiscussion on the State ofIndian Economy.

Mr. S.G. Prabhakharan,President welcomed thegathering.

Mr. Raghuttama Rao, MD,IMaCS, made a detailedpresentation on theInternational Economy andhighlighted the internationaldevelopments that mayimpact businesses in Indiawith specific focus on trendssuch as the fall in crude oilprices. While providing an

Mr. R. Raghuttama Raomaking a presentation

Mr. T.T.Srinivasaraghavansharing his views on State of

Indian Economy

Dr. Laveesh Bhandariaddressing the audience

Mr. M.R.Venkatesh givinghis views to the audience

Mr. R.Raghuttama Rao, MD, iMACS and GC Member interacting with the audience (secondfrom left) Others in the picture are (L to R): Mr.S.G. Prabhakharan, President, MCCI,Mr. T.T. Srinivasaraghavan, MD, Sundaram Finance Ltd. & Past President, MCCI, Dr.LaveeshBhandari, Chief Economist, Indicus Analytics, New Delhi and Mr. M.R.Venkatesh, Partner,GSV Associates & Chairman, Expert Committee on Economic Affairs

overview of the Indian economy and theexpectations from Budget, he emphasized on theimportance to kick-start the stalled infrastructureprojects. He concluded by mentioning the need forreforms in areas such as labour, land acquisition,banking, tax, etc.

Mr. T.T.Srinivasaraghavan, MD, Sundaram FinanceLtd. while addressing on the above topic, highlightedthe fact that investments were not forthcoming aswas expected, and stated that confidence deficit isthe key reason for the current underperformanceof the Indian economy. He concluded his talk with amention about India’s rural economy and prosperity


3rd March 2015Post Budget Workshop on Central Budget & Finance Bill 2015-2016


Dr. S. Narayan, Special Guest addressing the participants

Mr. M.R.Venkatesh, Chairman, Expert Committee –Economic Affairs, addressingthe audience. Other Speakers in the picture are (L to R) : Mr.K.Vaitheeswaran,Member – GC and Chairman, Expert Committee on Indirect Taxes and Mr. SriramSeshadri, Chairman, Expert Committee – Direct Taxes

A Workshop on Central Budget &Finance Bill 2015-16 was organisedon March 3, 2015 at Hotel GRTGrand, following the release of theUnion Budget on 28th February bythe Finance Minister, Governmentof India.

Dr. S. Narayan, Special Guest forthis program, set the tone for theevent by his incisive analysis of themacroeconomic picture. Heprovided fresh insight on the issueof liquidity with specific thrust onfew sectors like the real estatesector and interacted with theparticipants.

Mr. Sriram Seshadri, Partner, BMRLegal and Chairman, MCCI ExpertCommittee on Direct Taxes, madea succinct analysis of the entirerange of issues concerning DirectTaxes which helped the participantsgain a comprehensiveunderstanding of the recentchanges and their consequences.

Mr.K.Vaitheeswaran, Advocate &Tax Consultant and Chairman, MCCIExpert Committee on IndirectTaxes, made the analysis of thegamut of complex issues in theIndirect Taxes proposals armed with an interestingcricketing analogy which enabled easy understandingto the participants.

Mr. M.R. Venkatesh, Partner, GSV Associates &Chairman, MCCI Expert Committee on EconomicAffairs, summed up the program and then providedfodder for thought by touching upon specific issueslike black money and ease of doing business.

The program was very well attended by 70participants.


DOING THE HONORS

3rd April 2014Automobile Delegation from Ulsan, Korea –Interactive Session

An interactive session with a delegation from Ulsan,Korea was organized on 3rd April 2014 in theChambers’ office, at the request of Korea TradePromotion and Investment Agency (KOTRA).Mr.Kyungsoo Kim,Consul General, Off ice of theConsulate General, Korea visited the Chamber andaddressed the delegation. He thanked the Chamberfor organizing an interactive meet and stated thatTamil Nadu and Chennai are places where there isscope for expansion of their businesses. He furtheradded that delegates should maintain contact withthe Chamber Members to bring greater prosperityto Chennai and Ulsan.

11th April 2014Meeting with Netherlands Embassy & NetherlandsForeign Investment Agency – 11th April 2014

The Chamber had arranged for a round table meetingwith the Netherlands Embassy & Netherlands ForeignInvestment Agency and member companies on thetopic “Leverage Logistics in The Netherlands to buildyour European Market”. It was jointly organized bythe NFIA, Holland International Distribution Council,Rotterdam Partners and the Chamber on Friday 11thApril 2014 at Hotel RainTree.

Mrs. Gerdalies van Diggelen, Executive Director,NFIA India (Netherlands Embassy, New Delhi) madea presentation on “Why the Netherlands?”. Shestated that there are nearly 200 Indian establishmentsin Netherlands which include TCS, Mahindra, Infosys,Tech Mahindra and Wipro among others. Sheelaborated on the important reasons for IndianCompanies investing in Netherlands, such asstrategic location, superior logistics and technologyinfrastructure, favorable fiscal climate, Internationalbusiness environment, highly educated multilingualand flexible workforce. She explained the activitiesof NFIA, A to Z supports offered for the Indiancompanies who are willing to set up business inNetherlands.

The delegation comprised of 8 automobilecompanies and 3 companies from related sectors.Mr. Noh, Director of Agency (Ulsan EconomicPromotion Agency) introduced the delegation to theChamber representatives and member companies.Following that, the lead member of the delegationaddressed the Chamber Members stating thepurpose of their visit, and he ended his address byquoting Mahatma Gandhi, “The future depends onwhat we do in the present”. Around 15 membercompanies from the Madras Chamber participatedin the Meeting and interacted with the delegation.

Interactive session with the 12 member delegation fromUlsan, Korea

Mr. S.G. Prabhakharan welcoming the gathering. Others inthe picture are (L to R): Ms. Gerdalies Van Diggelen, ED, NFIAIndia, Mr. Mathijs Benink, Holland International DistributionCouncil, Mr. Loek Becker Hoff, Rotterdam Partners

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Mr. Mathijs Benink, Holland International DistributionCouncil (HIDC) gave an account of European Market.He talked about the European market, its comparisonwith India, road map for entry in the EU market anddetails on the supply chain and tax effectiveness onthe supply chain. He ended his presentation with agraphic representation of how the HIDC can assistinvestors.

Mr. Loek Becker Hoff, Rotterdam Partners, made apresentation on “Investing in Rotterdam”. Hespecif ically chose Rotterdam and gave theadvantages of investing in a city with a good businessclimate. He gave details of the locational advantage,nautical assessability of the Port of Rotterdam, thescope for Chemical Industry, Real Estate, Medicalcare, etc. He further stated that the RotterdamPartners is a Government Agency that has been setup to strengthen the economic structure ofRotterdam and hence would provide its completesupport for those interested in doing business inRotterdam.

The round table meeting was attended by about 25participants and there was a good interactive sessionafter the presentations, followed by hi-tea.

28th April 2014Interactive meeting with Delegates from MoselleDevelopment Agency

The Moselle Development Agency brought theirDirector from Moselle Development Council (MDC)to Chennai. MDC is the official government agencythat promotes investment and economic

development in the Moselle region. The CorporateCatalyst India Pvt Ltd and Moselle DevelopmentAgency wanted to promote and highlight theopportunities in EITS 2014: Euro India TechnologySourcing & Business Opportunities, Businessconvention to be held in Metz, France on 3rd & 4thDecember 2014.

The Chamber arranged for an interactive meeting ofthe member industries with the MoselleDevelopment council on 28th April 2014 at theChamber’s premises.

Mr. Thierry Petry, Director, Moselle DevelopmentAgency made a presentation on EITS 2014 and onthe advantages of participating in this exhibition.Mr.Sateesh Kulkarni, Director, Corporate CatalystIndia Pvt Ltd., also clarified a few points raised by theparticipants. Mr. Udit Srivastava, Associate Director,Corporate Catalyst and Ms. Yogita Khatri, DeputyManager Corporate Catalyst were also part of theteam which interacted with nearly 20 participants.

26th May & 27th May 2014Meeting with RAK Investment Authority (RAKIA)Govt. of Ras Al Khaimah

The Chamber had arranged for an interactivemeeting with a delegation from RAK InvestmentAuthority, Government of Ras Al Khaimah on 26thMay 2014 at Hotel GRT Grand Convention Centre.

Mr. Probir Chakraborty, Chief Executive Officer ofRAKIA, made a presentation about RAKIA, itsdemographic prof ile, potential market, licenses

Mr. Thierry Petry, Director, Moselle Development Councilinteracting with MCCI Members

Mr. Probir Chakraborty making a presentation on theopportunities at RAS AL Khaimah


issued by RAKIA to potential investors, single windowclearance procedures, off ice space provided toinvestors, the existing Indian Companies and theadvantages of doing business in the industrial parksof RAKIA.

The presentation was followed by an interactivesession and high tea.

The CEO of RAKIA was accompanied by Mr. Aseeband Mr. Suhail Yakoob who had a one-to-onemeeting with around seven member companies atthe Chamber the following day.

6th June 2014Interactive Meeting with Consul General of IslamicRepublic of Iran

An interaction meeting with H.E. Mr. HassanNoorian, Consul General of The Islamic Republic ofIran, was held on 6th June 2014 in the Chamber’spremises. The objective of this meeting was tounderstand the current economic situation in Iranand to explore opportunities to increase the traderelations between India and Iran.

The Consul General addressed the Members andstressed that Indian businessmen should make useof the opportunities that Iran presented.

He further invited the Chamber Members to take adelegation to Iran to understand more about doingbusiness with Iran. He informed that his office wouldbe happy to assist in the process of getting visas,meeting potential business representatives, etc. tostrengthen trade relationship between India and

Iran. Further, it was highlighted during the interactionthat India’s participation in the upgradation of theChabahar Port is definitely a positive move towardsimproving trade relations between India and Iran.

The Consul General was accompanied byMr.Ali Nirmood, Senior Public Relations Officer. Theinteraction session was followed by hi-tea.

26th June 2014Interactive meeting with Delegation from France

At the request from the Office of the Pay de la Loire,France, an interactive session with the Delegationfrom the Region was organized on 26th June 2014 inthe Conference Hall of the Chamber. The objectiveof this interaction was to explore businessopportunities between India and France in generaland with the region of Pays de la Loire in particular.

Mr. S.G.Prabhakharan, V ice President, MCCIwelcomed the Delegation.

Ms. Ina Sys, Regional Councillor, Pays de la Loireintroduced the Delegation from France. She wasaccompanied by Ms.Kamala Govindarajan, Director,Pays de la Loire Office in India, Ms Armelle Rebuet,Director, CCI International and Ms Nadia Chibouti,Program Coordinator, International Development,Agence Regionale.

The delegation expressed interest to know aboutthe overview of Agriculture and Food Processing inTamil Nadu. Dr. Ashok Iyengar, a Food Technologistand Managing Director of Sudarsan Foods Ltd., made

H.E Hassan Noorian, Consul General of Islamic Republic ofIran interacting with the members of the Chamber

Mr. S.G.Prabhakharan welcoming the Delegates from Paysde La Loire, France


a detailed presentation on the above topic. Hediscussed about the cultivable land in Tamil Nadu,horticultural produce, fruit and vegetableproduction, availability of milk, fish and meat. Further,he gave statistics of food processing Industries inTamil Nadu and areas of cooperation. Dr. Iyengar’spresentation was well received by theparticipants.

Ms. Nadia Chibouti, the contact person for Pays deLa Loire region in Western France, made apresentation on “Invest in Western France” whichincluded a video clipping of the facilities in Pays de laLoire. It was followed by a presentation on Pays deLa Loire as the heart of European cluster for foodproduction and innovation. She gave details aboutPays de la Loire being the leader in farm equipmentsand the details of their milk and meat production.The other area which was covered in thepresentation included Education and Innovationnetworks and the advance logistics support by theirairlines. The presentation ended with their assuranceto provide all necessary support for the IndianCompanies who are willing to explore businessopportunities.

The presentations were followed by good interactionand ended with hi-tea.

5th August 2014Interactive meeting with the Port of AntwerpOfficials

To continue the already existing relationship with thePort of Antwerp officials, there was an interactionmeeting with H.E. Dr. Bart De Groof, Consul Generalof Belgium along with the Port of Antwerp delegationin the Chamber’s premises on August 4, 2014.Mr. Luc Arnouts, Chief Commercial Director of theAntwerp Port Authority and Mr. Raj Khalid,Representative – India, POA and Mr. Sumeet Saini,Head of Post, Deputy Trade Commissioner, FlandersInvestment and Trade were also part of the meeting.

Mr.Ram Venkataramani, Vice President, MCCI, gavethe welcome address. Dr. Bart De Groof, in hisaddress to select members of the Chamber, pointedout that while many Trade Commissions and offices

are being closed in other parts of the Country on thebasis of cost cutting, the opening of the newConsulate General office in Chennai, in addition to aTrade Commission office, is proof of the potentialfor improving the trade relations between the twocountries.

The advantages of using Port of Antwerp and thepossibilities of Indian companies joining together tohave common facilities like ware housing, etc. werediscussed at length.

Mr Raj Khalid was appreciative of the support givenby the Chamber and said that we could think of othernew areas of collaboration as well, in the years tocome.

5th August, 2014Interactive meeting with Malaysian Rubber ExportPromotion Council

The Delegation from Malaysian Rubber ExportPromotion Council (MREPC) represented byMr. Jimmy Lim, Director, Marketing & Development,Mr. Samir and Ms. Josephine met Ms.Saraswathi,Secretary General at the Chamber’s premises for aninteraction.

There was a fruitful discussion with exchange ofvaluable information to explore opportunities andcollaboration on rubber products sector in India.

Interactive Session with H.E. Dr. Bart De Groof, Consul Generalof Belgium


17th September 2014Interactive meeting with the Delegation from GoaChamber of Commerce

An interactive meeting was organized with thedelegation from Goa Chamber of Commerce led byits President and Director General who visitedChennai in the third week of September 2014. TheBritish Business Group who is closely working withthe Goa Chamber of Commerce had initiated thisinteraction.

Mr. S.G. Prabhakharan, President extended a warmwelcome to Mr. Narayan Bandekar President andMr R.S.Kamat, Director General and to the otherMembers of the Goa Chamber and the BBG Membersand gave a brief background about the Chamber.

Mr. R.S.Kamat gave a brief about the Goa Chamberfollowed by a presentation on Goa and theopportunities that exist in various sectors in Goa,especially in the areas of IT, Logistics, Energy etc.Mr.Narayan Bandekar, President, informed that theywould be happy to enter into an MOU with theMadras Chamber and invited experts from theChamber to Goa to share their expertise.

Mr. Vittal Raj, GC Member, gave his insights aboutinvestments in IT in Goa. Mr.Krishnan, Chairman,Logisitics Committee shared his expertise on Logisticswith the Goa Chamber.

The members of Goa Chamber expressed theirappreciation for this good interaction session.

19th September 2014Interaction with Delegation from Portugal

A delegation from Portugal represented byMs.Amina, Partner, Mundiservices, Ms. Maria, GM,Association of National Electromechanical &Metallurgical Entities, Mr. Pedro,from Ecocil, andMr. Ferdinand from Natrater, who were on a twocity mission to India to promote cross border tradeand technology sharing between companies, in boththe Countries had an interaction with Ms.Saraswathi,Secretary General on September 19, 2014 at theChamber’s premises. The discussion centered onidentifying more opportunities and partnershipsparticularly in sectors like metal products, mouldaccessories, waste management, etc. They informedthat a larger multi-sector delegation would be visitingTamil Nadu during later part of this year or early nextyear and they expressed interest in collaboratingwith the Chamber.

Mr. S. G. Prabhakharan welcoming the Delegation from GoaChamber of Commerce and British Business Group, Goa &Chennai

An Interactive session with Delegation from Portugal

14th October 2014Interactive meeting with Delegates from Korea

At the request of Korea Trade Promotion andinvestment Agency, (KOTRA), an interactive sessionwith a delegation from Gyeonggi do Province, Koreawas organized on 14th October 2014 at theChambers’ off ice. The 8 member delegationcomprising of companies from the f ield of


Ms. K. Saraswathi making a presentation to the Delegatesfrom Gyeonggi do Province, Korea

Mr. John Kottayil, Executive Director, State of Bavaria, India Office, Bangalore making apresentation to the Participants. Others in the picture are (L to R): Ms. K.Saraswathi,Secretary General, MCCI, Mr. S.G. Prabhakharan, President, MCCI H.E. Mr. Achim Fabig,Consul General of Germany, Mr. T.S.Sampathkumar, Sr. Advisor, State of Bavaria, IndiaOffice, Bavaria.

electronics, medical care, chemicals among othersmet the Chamber representatives.

A presentation on the Chamber’s activities and aboutTamil Nadu was made and it was followed by individualpresentation by the member companies of thedelegation.

15th October 2014Seminar on “Invest in Bavaria”

The Chamber, in association with State of BavariaIndia Office, Bangalore (The Business PromotionAgency of the State of Bavaria), organized an

opportunity to know more about of setting upbusinesses in Bavaria.

H.E. Mr. Achim Fabig, Consul General of Germany,Chennai gave the keynote address on Indo – GermanTrade Relations. He elaborated on the trade relationsof Germany and India right from India’sIndependence and how it has significantly risen tothis level today.

This was followed by a presentation, “Invest inBavaria”, on business opportunities by Mr. JohnKottayil, Executive Director of State of Bavaria IndiaOffice, Bangalore.He explained about the range ofsectors available, services offered right from planningto implementation and the friendly policies that areavailable for companies setting up business inBavaria. He also mentioned that the off ice inBangalore would offer necessary services to theIndian Companies who are interested ininvestmenting in Bavaria.

The concluding remarks were given byMr. T.S.Sampath Kumar, Sr. Advisor, State of BavariaIndia Office, Bangalore followed by Vote of thanksby Ms. K.Saraswathi, Secretary General, MCCI.

The presentation and interactions were found useful.The program was attended by more than 35 invitees.

Interactive Session on“Invest-in-Bavaria” onWednesday, October 15,2014 at 6.30 pm at Hotel GRTGrand. H.E. Mr. AchimFabig, Consul General ofGermany, Chennai, was theSpecial Guest.

Mr. S.G.Prabhakharan,President, MCCI whilewelcoming the gathering,informed that Bavaria is notnew to India as there aremore than 11000 Indiansliving there with nearly 50Indian companies includingTCS, Wipro, L&T Infotechhaving their off ices inBavaria. He requested theparticipants to use this


7th November 2014Meeting with Mr. Ad Melkert,former Executive Director of theWorld Bank

The Chamber had scheduled aninteraction meeting with Mr. AdMelkert, Former Executive Directorof the World Bank on 7th Novemberin association with AthenaInfonomics Pvt Ltd.

Mr.T.Shivaraman, Immediate PastPresident, welcomed theparticipants and briefed about thestudy on Manufacturing in TamilNadu – A Regulatory Roadmap. Hepointed out that if labour laws areproperly reworked and executed,employment and skill developmentwill have a natural environment togrow.

Mr. Melkert, currently workingacross the globe as a Senior Adviser

on Employment Strategy, Labour Markets and Social Dialogue, madea presentation on “Labour Reforms and Employment”. He stressedon the importance of skill development and shared his experiences.

Mr. Vijay Bhalaki thanked the MCCI for arranging this meeting at shortnotice and informed the members that they are working with theGovernment on the Strategic paper and requested for the support oforganizations like MCCI.

There was a good interaction with the participants.

Interaction meeting with Mr. Ad Melkert, Former Executive Director of WorldBank and Former Dutch Minister of Social Affairs & Employment

MOU signed between Turkish Indian Chamber of Commerce & Industry (TICCI )and MCCI exchanged by Mr. S.G.Prabhakharan, President MCCI and Mr. ErsinKaraoglan, President, TICCI

23rd January 2015Meeting with the Turkish IndianChamber of Commerce & Industry,New Delhi

Mr.S.G. Prabhakharan, President,MCCI and Ms. K.Saraswathi,Secretary General and MrSankaranarayanan DeputySecretary, had a meeting withMr.Ersin Karaoglan, President,Mr.Mehmet Ali Sekar, V icePresident, Mr.Sukru Yilmaz of theTurkish Indian Chamber of Commerce& Industry at the President’s officeon 22nd January 2015.

Mr. Ersin Karaoglan, President of theTICCI highlighted the India –Turkeytrade relationship and their Chamberactivities. He invited the Chamber toplan a business delegation toparticipate in their Expo - TurkiyeWorld Trade Bridge 2015 scheduled

on 17th and 18th March 2015. This Expo is related to Leather & Leatherproducts, textile and textile machinery products.

Mr. S.G. Prabhakharan highlighted the strength of the MadrasChamber, members prof ile and assured the Chamber’s bestcooperation and support for the benefit of mutual relationship aswell as promoting Indian businesses with Turkey.

An MOU was signed between the two Chambers with the aim ofstrengthening Chamber relationship and promoting business activitiesbetween the members.


SOWING THE SEEDS

17th June 2014Training Program on Effective BusinessCommunication and Relationship Management withEduquest

The Madras Chamber in association with Eduquestorganized a Training program on Effective BusinessCommunication and Relationship Management in theConference hall of the Chamber on 17th June 2014.

Mr. Zafrullah, a Master Trainer of Eduquest,Singapore conducted the training and the feedbackhas been positive.

Mr. Zafrullah, a Master Trainer of Eduquest, Singaporeinteracting with the participants

Dr. Bala Sandilyan, Trainer interacting with participants

22nd August 2014Workshop on Lateral Thinking

A workshop on Lateral Thinking was organized on22nd August 2014 in the Chamber’s premises. Dr. BalaSandilyan was the trainer. The Training program wasconducted in two batches attended by more than 35persons. There was positive feedback from theparticipants.

February 10, 2015Presentation by Officials from PeelPorts, UK

The Chamber hosted a meeting forthe officials from Peel Ports, UK onFebruary 10, 2015 at the Chamber’sConference room. This meetingwas organized under the auspicesof the Logistics Committee.

The Peel Ports team from UK wasrepresented by Mr. Gary Hodgson,Group COO and Mr. Peter Faker –Group Sales Director.

Mr. S.G.Prabhakharan, President,MCCI welcomed the team and gavea brief introduction about theChamber.

Interactive meeting with the Officials from Peel Ports at the Conference room,MCCIMr. J.Krishnan gave an overview of the EXIM trade in Chennai.

The UK team made a presentation about their facilities and explainedhow better connectivity could be provided by the UK Ports to ourChennai EXIM Industry.

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18th September 2014Training on “UnderstandingCustomer Types & Modifying ourSelling Style”

The Chamber organised atraining program on“Understanding CustomerTypes and Modifying our SellingStyle” exclusively for Sales/Marketing personnel of theindustries. The program wasconducted by Mr. J.Srinivasan, arenowned trainer on SalesTechniques. More than 28participants took part in thetraining and there was positivefeedback.

Mr. J. Srinivasan, a renowned trainer on Sales Techniques interacting withparticipants

29th October 2014Training on Team Building

The Chamber organised a trainingon “Team Building”. Mr. SabaRam was the trainer. Around 22participants took active part in theprogram and the feedback wasexcellent.

Mr. Saba Ram giving exercises to the participants

Mr. Harihara Madhavan interacting with participants

16th December 2014Training on “Compass drivenTime Management” -

The Chamber organized atraining program on “Compassdriven T ime Management”.Mr. Harihara Madhavan, atrainer with more than 25 yearsof experience conducted theprogram.

The program was well attendedby executives of membercompanies.


TOGETHER WE GROW

5th April 2014Seminar on IT for EnhancingCompliance Managementunder Companies Act 2013

IPG Tech Solutions has designeda software for monitoringcompliance of the various lawsto enable the top managementto certify under the CompaniesAct 2013. At their request theChamber had organized a half-a-day seminar on IT forEnhancing ComplianceManagement under CompaniesAct on Saturday, the 5th April2014 at Hotel Quality Inn Sabari,Chennai

Mr. Goverdhan Jayaraman, Director, IPG Tech Solutions addressing the participants.Others in the picture are (L to R): Mr. Prasanta Kumar Sahu & Mr. Sudhir Jena

12th May 2014Interaction meeting with TamilNadu Infrastructure DevelopmentBoard.

The Tamil Nadu InfrastructureDevelopment Board (TNIDB) hasbeen set up under the Tamil NaduInfrastructure Development Act(TNID Act 2012) as the nodalagency for infrastructuredevelopment in the State of TamilNadu.

The Chamber had organized aninteraction meeting with the TamilNadu Infrastructure DevelopmentBoard (TNIDB) on Monday, May12, 2014 at Hotel GRT Grand Days.

Mr S.Krishnan IAS, PrincipalSecretary (Planning andDevelopment) CEO, Tamil NaduInfrastructure DevelopmentBoard made a presentation on theproposed plans for improving theinfrastructure in the State.

Mr. V ijay Bhalaki, Director,Athena Infonomics India Pvt Ltd.,TNIDB Project Consultant made a

Mr.Goverdhan Jayaram, Director and Mr.Prasanta Kumar Sahu, JointDirector, IPG Tech Legal Solutions, New Delhi made a presentation on thesolution developed by them for compliance management to meet theneeds of people, process and technology. They had a good interactionsession with the participants.

Mr S.Krishnan IAS, Principal Secretary (Planning and Development)/CEO, TNIDBaddressing the audience. (seated second from left) Others in the picture are(L to R) : Mr. Vijay Bhalaki, Director, Athena Infonomics India Pvt Ltd., TNIDB ProjectConsultant and Mr. S.G.Prabhakharan, President,MCCI

presentation which included the 3 aspects of the TNIDB, viz., Projects,Processes and Policies. The presentation also included the fast trackprojects and its implementation process. Madurai Thoothukudi IndustrialCorridor, Ultra Mega Power Project – Uppur, Development of one Green/Brown Field Port,Cuddalore and Greenfield Airport at Sriperumbudur area few projects which were included in the fast track/priority list of projects.

A vibrant and active interaction session was held after the presentationwherein questions ranging from who owns the project to biddingprocesses were effectively answered by Mr.S.Krishnan.

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21st May 2014Programme on ISO 50001 – Energy ManagementSystem with ASSIST

The Chamber, in association with ASSIST and UL DQSIndia, had organized a Training programme on ISO50001- Energy Management on 21st May 2014 at HotelSavera, Chennai.

Ms.K.Saraswathi, Secretary General, MCCIwelcomed the gathering.

Dr. Murugan, MD & CEO of UL DQS India, gave anintroduction about the program and the vision of theUL DQS in spreading awareness of EnergyManagement.

The Special Address was delivered by Mr.S.Appavoo,Chief Electrical Inspector, Electrical Inspectorate,Government of Tamil Nadu. He thanked andappreciated the Chamber’s efforts in spreadingawareness about Energy Management and also theChambers’ role in ECBC implementation which is oneof the mandates of the Electrical Inspectorate. Healso thanked ASSIST and UL DQS for spreadingawareness about Energy Management which is theneed of the hour. He later gave information andstatistics of what the State has done to increase

Mr. Nagesh Kumar, Director, National Productivity Councilmaking a presentation on ISO 50001

Members visiting MCCI Stall in RENERGY 2014 Conference atChennai Trade Centre

energy conservation and requested the participantsto make use of this training program as it would berelevant in increasing their companies profitability.

Mr. Nagesh Kumar, Energy Specialist from theNational Productivity Council conducted the trainingby dividing it into 4 sessions, namely EnergyManagement Fundamentals and Demand for EnergyManagement, Key requirements of ISO 50001,Action planning, training, etc., and Energy Auditprocedures and the ways of obtaining theCertification.

Mr. S.Sathappan, Regional Director, ASSIST gave theclosing remarks and Ms. K.Saraswathi, SecretaryGeneral, MCCI proposed the vote of thanks.

12th June – 14th June 2014REnergy International Conference by TEDA –participation by MCCI

REnergy International Conference had beenorganized by TEDA from 12th June to 14th June atthe Chennai Trade Centre. The Madras Chamber,being one of the supporting organizations as part ofits Sustainable Chennai Forum (SCF) activities, hadbeen allotted a stall to showcase its efforts towardssustainable initiatives. There was a good responsefrom the participants and new contacts were made.

25th June 2014MCCI – ICICI Bank – CEOKnowledge Forum

CEO Knowledge Forum isone of ICICI Bank’s Flagshipprogrammes in the BeyondBanking Space. The Chamberin association with ICICI Bankorganized the second edition Mr.N.K. Ranganath, MD, Grundfos Pumps India (P) Ltd on “Success story in Innovation”.


11th September 2014Awareness Program on Competition Law with FISME

The Madras Chamber, in association with TheFederation of Indian Micro and Small and MediumEnterprises (FISME), New Delhi and HindustanUnilever Ltd. (HUL), Mumbai organized an awarenessProgram on Competition Law in Chennai on 11thSeptember 2014 at the Chamber’s Conference Hall.

The objective of this interactive session was tospread awareness of the rights and responsibilitiesof small businesses under the Competition Act andhence, enable MSMEs to understand and takeadvantage of the prevailing competition law in India.

of ICICI Bank-CEO Knowledge Forum on 25th June atthe Hotel Park.

The decision to organize the second edition wasspurred by the positive response and the success ofthe first edition organized last year.

Mr.S.G. Prabhakharan. President, MCCI gave theWelcome Address.

The speakers on exclusive topics included

Mr. S.G. Prabhakharan, President, MCCI & Chairman, CCCCCinteracting with the Presidents and Secretaries of CCCCC.

25th August 2014CCCCC Meeting

As Chairman of the Consultative Committee of theCity Chambers of Commerce having 6 Chambers inits fold, a meeting was called for with the Presidentsand Secretaries of the Consultative Committee of theCity Chambers of Commerce by the President, MCCIon 25th August 2014.

The objective of this meeting was to discuss theareas on which the CCCCC could work together totake up common issues more effectively and also to

Mr. R.Sridhar, CEO, Ideas - RS on“5 ways to makesure your innovation delivers business results”.The Panel discussion on “How to build the culture ofInnovation in your company” included the followingspeakers

Mr. S.G Prabhakharan, President, MCCIMr. Dinesh R, Zonal Head – South, ICICI BankMr. R. Balaji, VP – Finance, Technip, IndiaMr. Shirish, Head- Products – Rediff Mail.

consider organizing a few joint events on subjects ofcommon interest to the members of CCCCC.

The following members attended the meeting:-Mr. S.G. Prabhakharan, President, The MadrasChamber of Commerce & Industry(MCCI)Mr. Jawahar Vadivelu, President, The Southern IndiaChamber of Commerce & Industry (SICCI)Mr. Hasmukhlal D Vora, President, HindustanChamber of Commerce (HCC)Mr. N.R. Dave, President Elect, HCCMr. Syed Muneer Ahmed – President, NationalChamber of CommerceMr. P. Nandagopal, Secretary, Andhra Chamber ofCommerceMr. S. Raghavan, Secretary, SICCIMs. K. Saraswathi, Secretary General, MCCI

Mr. S.G.Prabhakharan, President,MCCI, informedthat the Madras Chamber will take the lead this yearand do a few joint events to show the solidarity ofthe CCCCC.

Mr. Ahmad Saif Jamali Regional Legal Manager, HUL, makinga presentation to the participants

The presentation made by Mr. Ahmad Saif JamaliRegional Legal Manager, HUL, was well appreciatedand there was good interaction from theparticipating companies.


18th September 2014National Conclave – The Indian FoodProcessing Sector – MCCI & IndoAmerican Chamber of Commerce

The Madras Chamber was theAssociating Partner for the NationalConclave – The Indian FoodProcessing Sector held on 18thSeptember 2014 at Hotel HyattRegency, by the Indo AmericanChamber of Commerce.

Mr. Chozha Naachiar Rajasekar, President, Tamil Chamber of Commerce, Dr. V.L.Dutt, Hon.Consulof Turkey, Mr.Mustafa Goktug Bayri, Commercial Attache, Mr. S.G.Prabhakharan, Chairman,CCCCC & President, MCCI, Mr. Erdal Sabri Ergen, Consul General of Turkey, Mumbai,Ms. V.L. Indira Dutt, President, Andhra Chamber of Commerce, Mr. Jawahar Vadivelu, President,Southern India Chamber of Commerce & Industry, Mr. Syed Muneer Ahmed, President, NationalChamber of Commerce and Dr. N.R.Dave, President, Hindustan Chamber of Commerce


12th November 2014Meeting with the ConsulGeneral of Turkey underCCCCC

Under the auspices of theCCCCC, a meeting onBusiness Opportunities inTurkey was organized on12th November 2014 atHotel GRT Grand.

This was a uniqueevent as the Presidentsof all 6 Chambersattended the event.Mr. S.G. Prabhakharanwelcomed the gathering.Mr. Erdal Sabri Ergen,Consul General ofTurkey, Mumbai andMr. Mustafa GoktugBayri, CommercialAttache along withDr.V. L. Dutt, Hon. Consulof Turkey participated inthe program.

A presentation on theopportunities for Indians

in Turkey was made wherein the new investment incentive program of Turkeywas highlighted. The support measures and schemes of new investmentincentives program were elaborated. Further, the General Investment Scheme,Regional Investment Incentive scheme, Strategic Investment Scheme, large ScaleInvestment Scheme available for the Industries were elaborated and explainedto the Participants.

There was good interaction after the meeting which was attended by more than60 participants.

The Conference was inaugurated by Ms. HarsimratKaur Badal, Hon’ble Union Minister for FoodProcessing Industries, Government of India. Theinaugural was followed by 3 Technical sessions: Indian

Processed Food Sector and Export Prospects,Technology, Infrastructure, Food Regulations andChallenges, and Funding the Food Processing Sector.


21st November 2014Program on Profit Mantra forBusinesses jointly with FISME

The Chamber, in association withFISME, organized a Program onProfit Mantras for Businesses withfocus on Finance, Marketing &Technology at Chennai on 21stNovember 2014

This is part of a series of programsorganized by FISME in differentcities wherein eminent speakersfrom HP, Google addressed on theabove subject. MCCI was thepartner for the Chennai event.

Mr. S.G.Prabhakharan welcomedthe gathering. Mr. Mukesh KalraJoint Secretary (InternationalTrade), Federation of Indian Microand Small & Medium Enterprises(FISME) gave the introductoryremarks.

Mr. Samant Sikka, Sr. V icePresident, Axis Mutual Fund,addressed on the topic“Innovative Ways of Utilising ldealFinance” followed by Mr. KaushikShaw, Hewlett-Packard India onthe “New Style of Information

Mr. M.R Venkatesh, Chairman, Expert Committee on Economic Affairs, MCCIinteracting with participants. Others in the picture are (L to R) : Mr. Arjit DuttaChowdhury, GM – International Operations, Ashok Leyland and Dr. Amitendu Palit,Head (Partnerships & Program) & Visiting SRF at ISAS, Singapore

Ms. K.Saraswathi, Secretary General, MCCI, Mr. Mukesh Kalra, Joint Secretary, (Int.Trade) Federation of Indian, Micro and Small & Medium Enterprises (FISME),Mr. S.G.Prabhakharan, President, MCCI, Mr. David Wittenberg, Mr. Clynton Almeida,Chairman, MCCI Expert Committee on IT/ITes, Mr. Kaushik Shaw, HP IndiaMr. Siddartha Garg, Strategic Partner Manager, Channel Sales, Google India andMr. Samant Sikka, Sr. VP, Axis Mutual Fund

5th January 2015Discussion on “LeveragingIndia’s Free Trade Agreementswith Emerging Markets” Jointlywith Athena Infonomics

The Chamber, along withAthena Infonomics, a researchand strategy consulting firm,Chennai, had organised adiscussion on “LeveragingIndia’s Free Trade Agreementswith Emerging Markets” onJanuary 5, 2015 at the CanaraBank Hall, Madras School ofEconomics. Madras School of

Technology”.

Mr. Siddhartha Garg, Strategic Partner Manager, Channel Sales, GoogleIndia elaborated on “Digital Marketing.” This presentation was followedby a Special address by Mr. David Wittenberg, Chief Executive Officer,The Innovation Work Group on the main topic “ Profit Mantras forBusinesses” .

Mr Clynton Almeida Chairman for MCCI Expert Committee for IT &ITES, proposed the Vote of Thanks. The program was attended by 60participants


Members visiting MCCI Stall in Water Expo 2014 at ChennaiTrade Centre

Economics was the Institution Partner for thisdiscussion.

Dr. Amitendu Palit, Head (Partnerships &Programmes) and Visiting Senior Research Fellow atthe Institute of South Asian Studies (ISAS) in theNational University of Singapore addressed theaudience. He elaborated on three main angles of theFTAs of India – the motives and the current status,the features and the problems.

Mr.M.R.Venkatesh, Partner, GSV Associates &Chairman, MCCI Expert Committee on EconomicAffairs addressed the audience on the need toidentify the core competitiveness of India.

Mr. Arijit Dutta Chowdary, GM – InternationalOperations, Ashok Leyland made a presentationproviding the perspective of the automobile industryin the issue of FTAs. He outlined the problems facedby the industry and pointed out that exportinfrastructure bottlenecks effectively nullify thepositives of a FTA. He concluded by listing a series ofpossible solutions.

The presentations were followed by an interactivepanel discussion with the speakers.

28th January 2015Digital Transformation & Innovation – Talk by RobertStroud

MCCI was one of the supporting organizations for aspecial event organized by ISACA Chennai Chapteralong with with CIOKlub, Chennai on thecontemporary topic of Digital Transformation &Innovation on Wednesday, January 28, at HyattRegency.

CSX, short for Cyber Security nexus was launchedduring the event. It is a major initiative from ISACA inresponse to the burgeoning need for cutting edgecybersecurity knowledge, guidance, andcertif ications for both business & IT leaders andprofessionals, continually looking for smarter ways

to keep their organizations and their informationsecure.

It was followed by an address by Robert Stroud,International President, ISACA, CSX launch, CIOPanel. The brainstorming session was followed by anetworking dinner.

26th - 28th February 2015Water Expo–Chennai Trade Centre, Nandambakkam,Chennai

Water Today Pvt Ltd organized the 9th Edition ofWater Expo from 26th to 28th February 2015 at theChennai Trade Centre. The Chamber, which has beenone of the supporting organizations in the earliereditions of the Water Expo in Chennai, as part of itsSustainable Chennai Forum (SCF) activities,extended its support for this edition as well. A stallwas allotted for MCCI and this provided a platformfor the Chamber to showcase and create awarenessabout the activities of SCF to the participants of thiswater expo. The Chamber also had the opportunityto interact with other exhibitors who are active inwater management and therefore enhance thenetwork of the SCF.


25th June 2014FFT on Balancing Environment &Economic Development

The Madras Chamber organizeda FFT program on “BalancingEnvironment & EconomicDevelopment” on June 25, 2014at Hotel My Fortune, Chennai.This was to commemorate theWorld Environment daycelebrated on June 5th and tohighlight the fact thatenvironment and economicdevelopment are two sides of acoin and a right approach has tobe evolved to balance economicgrowth while protecting theenvironment.

Mr. N.Ranganath, MD, Grundfos Pumps India (P) Ltdsaid he agreed with Dr. Nandita that we should notdestroy our water bodies, forests, etc. He stated thathis view was different when it comes to industries.He pointed out that industries consume only 8% ofthe water resources and definitely do not contributeto the entire pollution, as often claimed.

He further added that it would be difficult to strike aperfect balance between economic developmentand environment. We should always keep in mind asto whether we are leaving a world which is betterthan what we are living in today for the futuregeneration in terms of development andconservation of our resources.

Industrial and economic growth is the need of thehour for this generation to lead a decent quality lifewith all the necessary comforts. Though the

Mr. N. K. Ranganath,MD,Grundfos Pumps India (P) Ltd, & Member – GC Committeeanswering a query during the interaction.(second from left) Others in the picture– L to R : Mr. N. Venkatraman, Director, Nandini Consultancy Centre & Dr. NanditaKrishna, Hon. Director, CPR Environmental Education

Mr. T.Shivaraman gave the welcome address.

Dr. Nandita Krishna, Honorary Director, CPREnvironmental Education Centre elaborated onbiosphere, eco systems, food chain and ecologicalbalance to enable a better understanding on theimportance of environment. She also talked aboutthe environmental licenses required for setting upan industry, how it is not being implemented, treesbeing cut for infrastructure development and foodproduction coming down, all leading to a secondarytreatment for environment when it comes todevelopment.

She emphasized that though it is an accepted factthat we would need development, destroying forestsshould be stopped. Our trees, water bodies shouldbe protected and it is an appeal to all industries tokeep that in mind while progressing towardsdevelopment.

FOOD FOR THOUGHTPROGRAMS

MCCI’s Food for Thought Program takes up largerissues of a topical nature which could involve theeconomy, civil society, businesses and thecommunity as a whole and provide a platform foropen discussion and interaction.


Corporates and Government have plans fordevelopment and conservation for the next 15 to 20years, there is a dearth of execution. Hence the onusis on each individual to preserve the environment. Itshould start with every individual, in every home andoffices to have a better world for the next generation,he said.

Mr. N.Venkatraman, Director, Nandini ConsultancyCentre, made a presentation wherein he stated thatboth economic development and environment are

a pivotal role in Smart Cities and shared a video on how the concept of“Internet of Everything” is being used in Barcelona.

Mr. Anand Madavan, Head – Infrastructure & Projects, IMAcS,elaborated on the divergent views of Smart City and the role infrastructureplays in setting up a smart city. He explained how even if infrastructure iscreated, it does not translate to better services and added that awholesome systemic reform is critical if we have to create and sustain asmart city.

Ms. Ranga Rohini, Associate- Urban Development, ITDP made apresentation on Transportation and Urban form and explained how publictransport should be promoted for one and all and on how streets can bemade more usable and pedestrian friendly. Further, she explained abouthow managing the parking facilities better would make a difference tocreate a better City.

Mr. Y. Shivakumar, Regional Director, CISCO Systems India Pvt. Ltd answering aquery during the interaction. Others in the picture are (L to R) : Mr. Anand Madhavan,Head – Infrastructure & Projects, IMAcS, Mr. Mainak Ray, Urban Planner, AtkinsIndia, Mr.S.G.Prabhakharan, President, MCCI, Dr. Mano Kumarasuriyar, Advisor, AthenaInfonomics & Ms. Ranga Rohini, Associate, Urban Development, ITDP

vital needs and there is def initely no conflict ofinterest. He elaborated on why problems arise andgave examples of Kochi LNG gas pipeline project,Coal bed methane project near Kumbakonam,Koodankulam nuclear power project and the landacquisition issues. He also gave statistics on India’swaste land area and State wise distribution.

There was a good interaction after the presentationsand the feedback from the participants was positive.

10th October 2014FFT on How Smart (a) City canbe?

As part of its initiative “Food forThought”, the Chamberorganized a workshop on “HowSmart (a) City can be?” onOctober 10, 2014 at Hotel GRTGrand Convention Centre,Chennai. This was also tocommemorate the WorldHabitat Day celebrated onOctober 6th.

Mr. S.G. Prabhakharanwelcomed the gathering. He setthe tone for the FFT by raising afew questions on whether Indiawould bring the ideas andinnovations of other countries tobuild 100 smart cities that arefree from pollution, whereenergy efficiency is high, trafficcongestion is absent, andsewerage water is treated andnot allowed to pollute rivers andwhether it would all betechnology driven.

Mr. Shivakumar, RegionalManager, CISCO Systems IndiaPvt. Ltd, addressed thegathering on LeveragingTechnology – Changing aCommunity, City, a Country, theWorld. He stressed on theimportance of how IT would play


Dr.Mano Kumarasuriyar, Advisor, AthenaInfonomics, spoke about the evolution ofcommunication, mobility and economic system andhow it has led to Smart living, moving, learning,Economy and Governance. He shared a video ofMarg’s vision for Urban Development in Chennai – Ageospatial approach as applied to IT Corridor taking

Ms.Sarada Ramani, CEO,CI Global Technologies interacting with the audience. (fourthfrom left) Others in the picture – L to R : Ms.K.Saraswathi, Secretary General, MCCI,Dr. Geetha Premkumar, Director, Vector Indo Janix Pvt. Ltd. & Mr. Navneet Raman,CFO, Nucleus Satellite Communication (Madras) Pvt. Ltd.

Technologies, presented a wide range of issues that plague womenentrepreneurship in these times. She opined that change is happeningbut many problems still remain and unless these are resolved, womenentrepreneurship cannot take off in large numbers. She concluded bystrongly suggesting that the Madras Chamber should create a WomenEntrepreneurs Angel Network to fund and mentor women and sheoffered her support in helping the Chamber to create such a network.

Mr. Navneet Raman, Chief F inancial Off icer, Nucleus SatelliteCommunications (Madras) Pvt. Ltd., agreeing with the previous speakers,added that times are definitely changing and that men should beproactive in removing the stigma. He opined that the technologyrevolution will help improve the statutory process and concluded thatthe avenues for growth are increasing, especially with the advent offactors like e-commerce.

There was a vibrant interaction by the participants.

the stretch from Madhiya Kailash to Kelambakkamon OMR and showing how it could be developed.

Mr. Manish Ray, Urban Planner, Atkins India, spokeabout the features of setting up a low carbon cityand how it is experimented in Madurai.

The presentations were followed by goodinteractions by over 50 participants

21st March 2015FFT on “Is entrepreneurshipGender Neutral

To commemorate InternationalWomen’s Day on March 8th, theChamber organised a FFT on “IsEntrepreneurship GenderNeutral?” on March 21st, 2015.The program aimed to discussquestions like: Why womenentrepreneurship is taking off ata lesser speed? Do women havespecif ic added challenges tobecome entrepreneurs?Whether the entrepreneurialeco system in India is equallyconducive to both men andwomen?

Dr. Geetha Premkumar,Director, Vector Indo Janix Pvt.Ltd., began by stating thatwomen entrepreneurs aredefinitely low in number andthen proceeded to list thepossible reasons for the same.Among the reasons and theobstacles, a dominant one wasthe conservative social outlook.She concluded with an overviewof the pitfalls and thecorresponding solutions of thecurrent Entrepreneurship eco-system.

Ms. Sarada Ramani, ChiefExecutive Off icer, CI, Global


8th September 2014Workshop on Cleantech solutions organized jointlywith Indo Italian Trade Commission

The Chamber, in association with the Indo ItalianChamber of Commerce & Industry, Italian TradeCommission and the Italian Embassy, organized aworkshop on “The Italian Cleantech Industry forRenewable ? Energies Development: Best Practices,Experiences, Cooperation, Opportunities” inChennai on 8th September 2014. This is part of aseries of workshops held by the Indo Italian Chamberof Commerce & Industry in different cities across thecountry.

Mr.S.G.Prabhakharan, President, MCCI, gave thewelcome address. The Guest of Honor was H.E. UgaCiarlatani, Consul General of Italy. Dr. Sudeep JainIAS, CMD, TEDA was the Chief Guest.

The Italian companies shared their experiences andthere was a good interactive session after thepresentations, followed by a one to one meeting.

10th September 2014Workshop on ENERGIE Project organized jointly withASSIST

A half day workshop was arranged in association withASSIST to discuss the capacity building activities ofthe ENERGIE Project and to review the course

On the occasion of World Habitat Day (9th November 2011), the Chamber launchedthe Sustainable Chennai Forum (SCF)

The SCF will assist and promote a business case for sustainable development. Its aimis to develop and demonstrate the contribution of business and industry to sustainabledevelopment solutions and share leading edge practices among member companies.

SUSTAINABLECHENNAI FORUM

Mr. S.G. Prabhakharan, President, MCCI welcoming theparticipants for the Workshop

Mr. Sathappan , Regional Director – South Asia, ASSISTaddressing the participants


outlined for certif ication trainings for EnergyProfessionals. This was done as a follow up of theENRGIE project launched earlier by the Chamber andASSIST.

Partner for this Seminar. The Seminar was supportedby UK Trade & Investment & Sri City

Mr. S.G.Prabhakharan, President, MCCI welcomedthe gathering.

Dr. Gora Mboup, Founder and President, GlobalObservatory linking Research and Action (GORA),New York delivered the Keynote Address. Hestressed that for cities to be sustainable, inclusiveand prosperous there is a need for mixedneighbourhoods rather than classifying the city intodifferent areas for affluent, middle class and poor.He also highlighted how people in many global citiesare reclaiming the city spaces which have been takenover by motorized transport.

Mr.Vikram Kapur, I.A.S.,Principal Secretary &Commissioner, Corporation of Chennai, Chennai inhis Presidential Address gave an insight into thevarious schemes by the Corporation which include,Non motorized Transport Policy to be implemented

Mr. S.G. Prabhakharan welcoming the Chief Guests and the gathering. Others in thepicture are (L to R) : Chief Guest Mr. Vikram Kapur IAS, Principal Secretary &Commissioner, Corporation of Chennai, Dr. Gora Mboup, Founder & Director GORA,New York, H.E. Mr. Bharat Joshi, Deputy High Commissioner, BDHC andMr. R. Kulothugan, Chairman, Expert Committee on Environment, PollutionPrevention & Control, MCCI

The need for energy efficiency in Industries, skilldevelopment and the SME requirements were thefocus of this workshop. There was good participationfrom SMEs.

10th November 2014Seminar on Inclusive UrbanProsperity

To mark the Third Anniversaryof the Sustainable ChennaiForum (SCF), a seminar on“Inclusive Urban Prosperity”was organized on Monday,10thNovember 2014 at Hotel MyFortune. This year’s seminarprimarily focussed on issues andchallenges of urbanization andthe need for appropriate policyformulation to ensure thaturbanization encompasseseconomic, social andenvironmental development.

National Institute of UrbanAffairs (NIUA), Govt. of India,New Delhi was the Knowledge

in 470 Bus Routes. Further, he elaborated on the“Chennai Street Design Manual” (CSDM). He alsostated that a parking management plan will be in placeshortly as they are roping in private players who willprovide smart solutions.

The Special Address was delivered by H.E.Mr. BharatJoshi, Deputy High Commissioner, British DeputyHigh Commission, Chennai. He congratulated theChamber for their special initiatives especially in thearea of environment, sustainability and skilldevelopment. He assured the continued support ofthe BDHC for such initiatives of the Chamber.

The inaugural was followed by a Technical Session

Dr.Ajith Kaliyath, Environment Specialist, NIUA, NewDelhi made a presentation on Inclusive UrbanProsperity Framework: Deconstructing the Idea. Heelaborated on the recent Government initiatives andthe UN Habitat’s city prosperity index. He furtherhighlighted the South Asia Knowledge Hub’sstrategic interventions.


Dr. Solomon Benjamin,Associate Professor, IITMadras, Chennai made apertinent presentation on theinformal economy’scontribution to the prosperityof the urban economy titled“Prosperity via a grassrootsEconomy: Opportunities forChennai and other IndianCities.”

Dr. Chitra, Chief Planner,Chennai MetropolitanDevelopment Authority(CMDA), Chennai delivered herpresentation on “UrbanProsperity for CMA throughSecond Master Plan”.

Dr Kala Seetharam Sridhar,Prof. and Head, Centre forResearch in Urban Affairs,Institute for Social andEconomic Change, Bangaloreaddressed the participants on“Achieving Inclusive Urban

Plan. He emphasized that every energy consumercan also be a producer of energy.

Ms.Kashmira Medhora Dubash, Associate, TransportPlanning, ITDP, Chennai made a presentation on“Inclusive Transportation through Equitableallocation of Road space”. A better “parkingmanagement and promoting the use of publictransport” were the key points.

Mr.N.Shankar, CEO, X S Real Properties Pvt.Ltd.,addressed the participants on Affordable Housingand the importance of the construction sector toincrease the GDP & employment. He pointed out thatthese housing should have well developed physicaland social infrastructure.

The Technical Session was concluded with a vibrantQ&A session.

The program concluded with Vote of Thanks byMs.K.Saraswathi, Secretary General, MCCI. Theprogram was well attended and appreciated by 50+participants.

Ms. Vidya Soundarajan, Sr. Reg. Advisor, Climate Change & Energy BDHC, addressingthe participants. Others in the picture – L to R : Mr. Toine Van Megen, Co-Founder,Auroville Consulting, Mr. N. Sankar, CEO, XS Real Properties Pvt. Ltd, Dr. S. Janakarajan,Professor, MIDS, and Ms. Kashmira Medhora Dubash, Associate, Transport Planning,ITDP.

Prosperity : Policy Perspectives”. Her viewpoints onFSI and FAR, restricting the habitation and not beingvery urban poor friendly, opened up new thoughts.

The Panel Discussion on “Planning Indian Cities foran inclusive and prosperous future” was wellpresented by the following speakers:

While addressing the audience, Dr. S. Janakarajan,Professor, Madras Institute of Development Studies,Chennai made a point on the need to measure theUrban Development through proper auditing andaccounting and his speech was well received by all.

Ms.Vidya Soundararajan, Sr.Regional Advisor,Climate Change & Energy, BDHC, Chennai addressedthe participants on how the poor are most vulnerableto the perils of Climate change and hence there is aclear need to address the climate change issues. Shealso explained their projects in cities like Madurai andMysore and explained how cities can be futureproofed for climate change.

Mr Toine Van Megen, Co Founder, AurovilleConsulting, made a presentation on Auroville Master


Trade Information and LibraryTrade enquiries received by the Chamber during theyear related to imports, exports, joint venturepossibilities, foreign collaborations and they havebeen dealt with accordinglyThe Chamber has a compact libraryThe Chamber issues certificate of origins for goodsbeing exported to other countries, attests exportdocuments, invoices, agreements, sales contracts,etc.,The Chamber also issues letters to the variousEmbassies, Consulates recommending grant of visafor business travel. This service is provided only tomembers.ADVISORY SERVICESArbitrationThe Chamber undertakes arbitration betweenmembers and also between members and non-members on request. It has a panel of arbitrators.The Chamber is a life member of the Indian Councilof Arbitration, New DelhiASSOCHAMThe Madras Chamber is a Promoter Affiliate of TheAssociated Chambers of Commerce & Industry ofIndia (ASSOCHAM), New Delhi.FICCIThe Chamber is also a member of the Federation ofIndian Chambers of Commerce & Industry, NewDelhi

Media ReleasesThe Chamber issued the following media releasesduring the year30.04.2014 MCCI takes over the Chairmanship of

Consultative Committee of CityChambers of Commerce, (CCCCC)Chennai

16.05.2014 Result of Election 201410.07.2014 Union Budget 2014-1508.08.2014 Railway Budget 2014-1524.09.2014 Increase in Power Tariffs30.10.2014 Disclosure of names of those who have

stashed black money abroad.12.02.2015 Training Program for Aspiring Women

Directors26.02.2015 Railway Budget 2015-1628.02.2015 Union Budget 2015-16Chairmanship of CCCCC Consultative Committee of City Chambers ofCommerce (CCCCC) was formed to act as a collectiveforum for taking up common issues of Industry andTrade with the State and Central Government.It comprises of 6 Chambers namely, Andhra Chamberof Commerce, Hindustan Chamber of Commerce,National Chamber of Commerce, Southern IndiaChamber of Commerce & Industry Tamil Chamber ofCommerce and The Madras Chamber of Commerceof Commerce & Industry.The Chairmanship of the CCCCC is given on rotationbasis to the Chambers to take up activities as acollective forum as and when required.MCCI has taken up the Chairmanship of CCCCC since29th April 2014.

TRADE SERVICES

REPRESENTATIONS TO GOVERNMENTThe Chamber sent the following representations to various bodies:

Date Representation Addressed to1st April, 2014 Ombudsman Comments Mr. M. Kannan,

Comments on Consultation paper on Economic Adviser,Ombudsman for Civil Aviation Ministry of Civil Aviation, New Delhi

16th May, 2014 Companies Act 2013 Ms. Renuka Kumar,Suggestions on companies Act 2013 Joint Secretary,

Ministry of Corporate Affairs, New Delhi

13th November, 2014 Employees’ Provident Fund Act Mr. Narendra Singh Tomar,MCCI concerns on recent changes in the EPF Act Minister for Labour & Employment, GoI

21st November, 2014 Companies Act 2013 Hon’ble Minister Mr.Arun Jaitley,Suggestions on companies Act 2013 Union Minister of Finance,

Defence & Corporate Affairs, GoI

4th December, 2014 Road Transport & Safety Bill Mr. Nitin Jairam Gadkari,MCCI suggestions on Road Transport & Safety Bill. Hon’ble Minister of Shipping, GoI

30th January, 2015 TN VAT Act 2013 Mr.S.K.Prabhakar, IAS.,Representation on TN VAT Act 2013 Principal Secretary to Government,Commercial Taxes & Registration Dept. GoTN.


Expert Committees for the year 2014-15

Name of the Committee Chairmen Co-Chairman

Company Law/ Mrs Bhavani Balasubramanian Mr P ViswanathanCorporate Matters Partner Secretary & Compliance Officer,

Deloitte Haskins & Sells Sundaram Finance Ltd.

Direct Taxes Mr Sriram Seshadri Mr S VijayPartner Vice President – TaxationBMR & Associates, LLP Scope International Pvt.Ltd.

Economic Affairs Mr M R Venkatesh Mr V BalasubramanianPartner Vice President – Corporate CommunicationGSV Associates The India Cements Ltd.

Education Prof Sriram Dr S VenkataramanCEO & Executive Director Vice President (Education & Training)Great Lakes Institute of The India Cements Ltd.Management

Energy Mr S Venkatachalam --Managing DirectorOrient Green Power Co.Ltd.

Environment, Pollution Mr R Kulothungan --Prevention & Control Sr.Vice President

Orient Green Power Co. Ltd.

Financial Sector Mr G Sundararajan Mr V SriramChief Financial Officer Chief Operating OfficerSundaram BNP Paribas Home ICRA Management ConsultingFinance Ltd. Services Ltd.

HRD/CSR Mr P N SrikanthHead – PersonnelSundaram Finance Ltd.

Indirect Taxes Mr K Vaitheeswaran Mr K K SekarAdvocate &Tax Consultant Dy General Manager-Indirect TaxesK.Vaitheeswaran & Co., Ashok Leyland Ltd.

IT/ITES Mr Clynton Almeida Mr J RaghunathanChief Information Officer Founder – DirectorRedington ( India) Ltd. Knowledge Capital Investment Group

Legal Affairs Mr Anand GopalanPartnerTS Gopalan & Co.,

Logistics Mr J Krishnan Mr U Udayabhaskar ReddyPartner Wholetime DirectorS Natesa Iyer & Co. Sanco Trans Ltd.

Manufacturing Mr D MuruganandamSr. Vice President – Mfg.India Cements Ltd.

VAT Mr P R Subramaniyan Mr T AmarnathDy. General Manager – General Manager – Indirect TaxesCorp. Indirect Taxes Tractors & Farm Equipment Ltd.L & T Construction


COMPANY LAW/CORPORATE MATTERS

The Committee held 4 meetings during the year.

The main deliberations of the Committee related to Companies Act 2013 and workshops wereheld to update the members on the amendments made from time to time by the Government.

Further, discussions were held on the Director’s liabilities with the various provisions being madeon the Companies Act 2013 with regard to the responsibilities of the Director and a program wasplanned accordingly to create awareness about the Directors’ and Officers’ liability insurance.

The programs organized under the auspices of the Expert Committee on Company Law are asfollows:-

EXPERT COMMITTEES

Independent Directors have not been defined clearlyin the Companies Act. In the eyes of law, there is ano distinction between a Managing Director, Wholetime Director, and Independent Director. Everybodyfalls under the ambit of the Independent Director. Inthe court of law, more particularly in criminalproceedings, a Director is only a Director and hecannot say that he plays only an advisory role.

Mr. T.N. Manoharan, Past President of ICAI, NewDelhi delivered the keynote address. Hecongratulated the MCCI for organising thismeaningful program which is the need of the hour inthe emerging scenario. He stated that there is aparadigm shift in the approach, direction and thelandscaping of the laws and regulations across theglobe, and more so in India.

He elaborated on the need for the Directors’ andOfficers’ Liability. He shared his views on few of thecorporate scams in India. Further, he covered theobjective of the D & O Insurance Coverage, theactions which constitute wrongful act, how the D &

26th June 2014Program on Directors’ & Officers’ Liability Insurance

The Chamber, in association with Zeal Direct andReinsurance Broking Services Pvt Ltd, organised aprogram on Directors’ & Officers’ Liability Insuranceon 26th June 2014 at Hotel GRT Grand. It wasorganised as a part of the series of programs on theprovisions of New Companies Act to createawareness among the members. The Companies Actmakes it essential for companies and their employeesto secure against personal liability claims and thisprogram had experts throw light on what needs tobe done.

Mr. T. Shivaraman gave the welcome Address.

Mr. N.Srinivasan, Senior Partner, Fraser & Ross andDeloitte Haskins & Sells (Retd.,) was congratulatedfor getting the Lifetime Achievement Award fromthe Institute of Directors.

He gave the special address on his experiences asDirector. He stated that in the Board of Directors,

Mr. T.N. Manoharan, Past President of ICAI, New Delhidelivering the keynote address.

Mr.Kiran Sharma, Head Underwriter, Raheja QBE GeneralInsurance Co. Ltd., making a presentation


O insurance gains significance under Companies Act2013. The Global and Indian scenario were comparedand the advantages of D & O insurance coveragewere elaborated apart from giving the common D &O exclusions.

Mr.Kiran Sharma, Head Underwriter, Raheja QBEGeneral Insurance Co. Ltd.,made a presentation onthe Directors’ and Officers’ Liability Insurance andits features.

His presentation covered the potential plaintiffs,allegation types, what the D & O Liability Insurancedoes, who does it cover, the liability triggers, whatwent wrong in a few companies with examples, stepsto protect their position and that of the company.He further stated why Raheja QBE should beconsidered.

It was followed by a Panel Discussion moderated byMs.Bhavani Balasubramaniam, Partner, DeloitteHaskins & Sells & Chairperson, MCCI ExpertCommittee on Company Law/Corporate Matterswherein the following speakers presented differentperspectives of this concept.

Mr. N. Ramanathan, MD, Ponni Sugars Ltd - IndustryPerspective

Mr. K.Vaitheeswaran, Advocate & Tax Consultant –Legal Perspective

Dr.B.Ravi, Practicing CS – Company law perspective

Mr Srinivasan Rangarajan, Zonal Head, Raheja QBEGeneral Insurance Co.Ltd., delivered the Vote ofThanks.

The programme was attended by more than 60participants and ended with lunch.

9th & 10th January 2015Conference on Companies Act jointly with IICA

The Chamber in association with Indian Institute ofCorporate Affairs (IICA), New Delhi, had scheduled atwo-day Conference on Companies Act 2013 & Rules,on 9th and 10th January 2015 (Friday & Saturday) atHotel Deccan Plaza, Chennai

Ms. Bhavani Balasubramanian, Chairman, ExpertCommittee delivered the welcome address followedby Mr. P.R.R.Nair, Head, Centre for Responsible

Corporate Governance, IICA, giving the overview ofthe Conference.

Dr.S.Kumar, IICA gave an overview of the NewCompanies Act 2013 with special reference to therecent amendments.

The Technical Sessions on 9th January 2015 hademinent speakers, namely , Mr.JN Gupta, Founder &Managing Director Stakeholders EmpowermentServices, Mumbai, Mr. Henry Richard RegionalDirector (Retd.), Ministry of Corporate Affairs,Ms.B.Chandra, Practicising Company Secretary,Mr.Mahesh Krishnan, Partner, R.G.N. Price & Co, andMr.V Babu Sankara Subramanian, V.Rajalakshmi & Co.,Chennai

On the second day, 10th January 2015, thespeakers included CA Mr.Srikanth, CharteredAccountant & Secretary, Investor Association,Dr.Bhaskar Chatterjee, Director General, IICA,Mr.P.V iswanathan, Company Secretary &Compliance Officer, Sundaram Finance Ltd

Dr.Bhaskar Chatterjee, Director General, IICA making apresentation

Dr.S.Kumar, IICA giving an overview of the New CompaniesAct 2013. Others in the picture are (L to R) : Ms. K. Saraswathi,Secretary General,MCCI,Ms. Bhavani Balasubramanian,Chairman, Expert Committee on Company Law/CorporateMatters & Mr. P.R.R.Nair, Head, Centre for ResponsibleCorporate Governance, IICA


DIRECT TAXES

The Committee met twice during the year. A broad overview of the Committees’ activities werehighlighted by the Chairman in the first meeting and the main agenda was to consolidate theappropriate points to make a post budget representation to the Ministry of Finance & CBDT.Further, a few programs on TDS and Transfer pricing were discussed and programs heldaccordingly for the benefit of the members.

The Programs under the auspices of the Direct Taxes Committee are as follows:-

income tax collection last year, of which 41% was fromTDS. He added that TDS is important as it forms amajor portion of the total taxes collected and it is atax which is paid as and when there is an earnings.He stated that the portals, TRACES, centralizedprocessing cell are examples to show that themindset of the Department is changing towardsplaying a supportive role to the tax payer to becompliant.

He actively particpated in the interaction sessionwherein queries were posed by the participants onTDS and also on other direct taxes.

The Department Officials made presentations in thetechnical sessions on TRACES. The first presentationwas on Taxes, TDS, its provisions etc. whereas thesecond presentation was on TRACES and how it hasto be operated.

An interaction session was held wherein queries wereanswered by the Principal Chief Commissioner ofIncome Tax and his team. The programme was wellattended by about 30 persons and was followed bylunch.

5th May 2014Seminar on Tax Deducted at Source (TDS) – at HotelRaintree, Anna Salai.

A Seminar on Tax Deducted at Source (TDS) – Issues& Challenges was organized on 5th May, 2014 underthe auspices of the Direct Taxes Committee.Mr. S.G. Prabhakharan gave the welcome addressfollowed by the theme address by Mr.SriramSeshadri, Chairman, Expert Committee on DirectTaxes.

Mr.Rajib Kumar Hota, IRS., Commissioner of IncomeTax gave the special address. He spoke on the broadframework within which the Department of IncomeTax functions, especially in making compliance easy.He stated that there are awareness programs andfacilitation programs to make the tax payer pay thetaxes without hassles.

Mr S Ravi, IRS, Principal Chief Commissioner ofIncome Tax gave the inaugural address. He thankedthe participants who have been instrumental inhelping Tamil Nadu achieve Rs.40000 crore in

Mr.Sriram Seshadri, Chairman, Expert Committee on DirectTaxes giving the theme address

Mr.Rajib Kumar Hota, IRS., Commissioner of Income Tax gavethe special address


6th November 2014Seminar on Transfer Pricing Issues in ManufacturingSector

The Chamber organized a full day seminar onTransfer Pricing Issues in Manufacturing Sector on6th November 2014 at Park Sheraton & Towers,Chennai.

Mr. Ram Venkataramani, Vice President, MCCI gavethe welcome address.

Mr.Sriram Seshadri, Partner, BMR Legal & Chaiman,MCCI Expert Committee on Direct Taxes introducedthe topics and the speakers.

The Chief Guest, Mr. Rathinaswamy, I.R.S, Director,International Taxation, Chennai addressed theparticipants. He spoke positively and requested themembers to bring genuine issues to his attention andpromised to help find solutions for the same. Hewas appreciative of the Chamber’s efforts in doing astudy on manufacturing sector and the variousprograms organized by the Chamber.

Mr S Ravi, IRS, Principal Chief Commissioner of Income Taxgave the inaugural address


Mr. Ram Venkataramani, Vice President, MCCI gave thewelcome address.

The Chief Guest, Mr. Rathinaswamy, I.R.S, Director,International Taxation, Chennai addressing the gathering.

Panel Discussion – L to R: Mr. Sriram Seshadri, Mr.Parkshit Datta andMr.Krishnan Parameswaran


ENVIRONMENT, POLLUTION PREVENTION AND CONTROL

The Committee headed by Mr. R.Kulothungan met in the month of August and planned outprograms for the year. The Committee brought out a new concept of Green Practices Audit forunits done at a nominal charge by the experts from the Team of Chairman at Orient Green PowerCo.Ltd. An audit was done successfully at a unit in Kancheepuram and the process is on to do formore units. Further, the details about the program conducted under the auspices of theEnvironment, Pollution Prevention and Control is as given below:-

19th December 2014Program on Occupational Health, Safety andEnvironment

Under the auspices of the Environment, PollutionPrevention and Control Committee, a one day

Management Development Program on“Occupational Health, Safety & Environment” wasorganised by the Chamber, on Friday the 19thDecember 2014 at Hotel Savera, Chennai.

The inaugural was followed by 5 technical sessions addressed by the following Speakers

Key Transfer Pricing issues relevant to Mr.Suchint MajmudarManufacturing Sector Partner, BMR Advisors

Managing Complexity in Royalty Payments Mr.N.Madhanand inter-company services in Manufacturing Sector Partner, Ernst & Young LLP

Advertising, marketing and promotional (AMP) Mr.Krishnan Parameshwaranexpenditure and transfer pricing challenges Senior Director,

Deloitte Haskins & Sells&

Mr.Parikshit DattaDirector, Deloitte Haskins & Sells

Capital Financing and Transfer Pricing challenges Mr.Hardev Singh SabharwalPartner – Global Transfer PricingServices, BSR & Co.

Specified domestic transactions and Manufacturing Mr.Sivam SubramanianSector Director, BMR Advisors

Summing Up & Closing remarks Mr.Sriram SeshadriPartner, BMR Legal & Chairman,MCCI Direct Taxes Committee

There were good interactions and excellent feedback. The program was attended more than 50 participants.

ENERGY

The Committee headed by Mr. S. Venkatachalam met twice during the year. The Committeesubmitted a representation to the Government when the electricity tariff was increased after lotof deliberations and discussions on the same. Discussions have also been held to bring awarenesson Renewable Energy.

A major Conference on Energy- Economy- Environment was organized in association with IndiaEnergy Forum, New Delhi on 5th September 2014 at Hotel Le Royal Meridian, Chennai (coveredin Major Conferences)


Mr. R. Kulothungan, Chairman, Expert Committeeon Environment, Pollution, Prevention and Controlwelcomed the gathering.

Mr.C.Gnanasekara Babu Rao, Director, Directorateof Industrial Safety & Health, Government ofTamilnadu, delivered the inaugural address.

Mr.S.Ananth, Joint Director, Directorate of IndustrialSafety & Health, Govt. of Tamil Nadu addressed onOverview of Regulatory Guidelines on Safety,Factories Act and Health to be adopted at workplace.

Mr. Sathya Prakash, Manager – Contracts, IndiaRegion, DNVGL, Chennai made a presentation onImportance of Occupational Health & Safety, itsevolution, OHS Standards and OHS Policy.

Mr. M. Namasivayam, Head – Fire & Safety, DLF ITSEZ, made a presentation on “How to plan forworkplace emergencies and evacuation”.

Mr. Sudharsan, AGM – Technical Services, OrientGreen Power Co. Ltd. made a presentation onInternal Audit, Monitoring measuring, evaluation andcorrection followed by a presentation by Mr AnandGopalan, Advocate, Partner, T S Gopalan & Co. on“Compliance, legal and other requirements”.

Dr. S. Sankar, Associate Professor, Sri RamachandraMedical University made a detailed presentation onEmerging Trends & understanding best practicespertaining to occupational health.

HRD

The Committee met in the month of September along with the Legal Affairs Committee todiscuss in detail about the changes made in the PF Act.

The programs under the auspices of HRD Committee are as follows:-

procedures and compliances requirements and toprovide an opportunity to the Companies in andaround Madurai to interact with the officials and seekclarifications and suggestions on certain practicaldifficulties they encounter.

Mr.V.Shyam Sundar, Regional Provident FundCommissioner-I, Madurai, Mr.K Varadan, COO ofAparajitha Corporate Services, Mr.Andrew Prabhu,

7th May 2014MDP on PF and ESI Issues @ Madurai

The Chamber had organized a half day“Management Development Program on ProvidentFund & Allied Issues” on 7th May 2014 at Madurai.This was part of the Chamber’s periodical outreachprogram. The objective of the program was to updatethe participants about the changes in the policy,

Mr. R. Kulothungan, Chairman, Expert Committee onEnvironment, Pollution, Prevention and Control welcomingMr.C.Gnanasekara Babu Rao, Director, Directorate ofIndustrial Safety & Health, Government of Tamilnadu with abouquet of flowers

Mr.S.Ananth, Joint Director, Directorate of Industrial Safety& Health, Govt. of Tamil Nadu addressed on Overview ofRegulatory Guidelines on Safety, Factories Act and Health tobe adopted at workplace


Regional PF Commissioner-II and PF departmentofficials participated in the PF session.

Mr.RAC Bhat, Director of ESI Corporation, Madurai,Mr.P.David Manickam, Asst.GM of Fenner India andESI department officials participated in the post lunchsession on ESI.

The off icials made presentations on coverage,benefits, wages and complaints, Personnel Hearing,Order under Section 15A & 85B.

The participants included over 30 executives fromindustries in and around Madurai.

16th September 2014Meeting with the PF Commissioner

With the recent changes in the PF Act increasing theceiling limit from Rs.6500/- to Rs.15000/-, with effectfrom 1st September 2014, for contribution to be made

by industries, an interactive meeting was arrangedby the Chamber with Mr.S.D.Prasad, RegionalProvident Fund Commissioner –I on 16th September,in Chennai.

Mr. Ram Venkataramani, Vice President gave thewelcome address.

Mr. Chandrasekar, Asst. Director (Informationsystems) gave a presentation on the UniversalAccount Number, features, the documents requiredfor KYC by EPFO and also gave statistics of theRegional Office, Chennai.

Mr.S.D.Prasad made a presentation on the latestamendments in Employees Provident Fund Scheme(EPF), Employees Pension Scheme (EPS) andEmployees Deposit linked Insurance Schemes (EDLI).He elaborated on the impact of the amendment andthe role of the employer consequent to theamendment. He further elaborated on 7 case lawswith regard to splitting of wages.

Mr. Shyam Sundar, Regional Provident Fund Commissioner,Madurai interacting with delegates


Mr.S.D.Prasad, Regional Provident Fund Commissioner – Imaking a presentation.



30th December 2014Discussion on GST Bill 2014 (122nd Constitutional Bill2014)

The Union F inance Minister presented theConstitution (122nd Amendment) Bill 2014 on Goods& Services Tax on 19th December 2014 in the Lok

Sabha. The Bill is a path breaking tax reform andbrings in a number of important changes. TheChamber proactively, arranged for a 2 hours sessionto understand the positive and negative aspects ofthe bill on 30th December 2014 at Hotel DeccanPlaza, Chennai.

INDIRECT TAXES & VAT

The Committee which met in the month of August planned for the major All India Workshop onIndirect Taxes. (Covered in Major Conferences) Further, the Committee had detailed discussionson the proposed GST and had an awareness program to understand the positive and negativeaspects of the 122nd Constitutional Bill 2014 on GST.

Mr.K.Vaitheeswaran, Advocate & Tax Consultant andChairman, of MCCI Indirect Taxes Committee and an experton GST, making a presentation


IT/ITES

The Committee met in August and the Chairman informed that every member should keep awatch on the changes in the IT policy and requested for suggestions for modifications of theChamber’s website. Further, the members discussed the possibility of an online forum to addressthe members concerns.

The program under the auspices of the IT/ITes Committee is as follows:-

17th December 2014, at the Taj Club House, Chennai.This was an exclusive event for the manufacturingsector, wherein a platform was provided to discussand deliberate the phenomenon on howconnectivity and technology are more valuable andrelevant than ever before for driving the businessoutcomes.

17th December 2014Manufacturing Leadership Summit : “Internet ofEverything & Delivering Business Outcomes” jointprogram with CISCO

The Chamber, in association with CISCO, organized aManufacturing Leadership Summit on the “Internetof Everything & delivering business outcomes” on


Mr. S.G. Prabhakharan welcomed the gathering andset the tone for the program.

Mr Manikam Ramaswami, Chairman and ManagingDirector, Loyal Textile Mills Ltd. addressed on thetopic “Future of Manufacturing - Make in India: AnIndustry Perspective”. He elaborated on thenecessity of the Make In India initiative especially inview of leveraging India’s demographic dividend. Healso highlighted the external challenges confrontingthe manufacturing sector, viz. raw material pricing,infrastructural problems, availability of markets andaccess to international markets. He mentioned thatthere is a need to address the crony capitalism andrent-seeking in our economy and concluded that ifworkers are treated with respect and compassion,we can have world leaders.

Mr. Mr.Nalinikanth Gollagunta, Managing Director -Sales, CISCO India addressed the gathering on thetopic “Internet of Everything: DeliveringManufacturing Business Outcomes” followed byMr.V inay Dua, V ice President, BusinessDevelopment IOT, CISCO India on “IoE inManufacturing: Making it Real”.

Mr.Tarun Mishra, Founder & CEO, Covacsiselaborated on “Intelligence out of Everything :Innovation & Opportunities”

This was followed by a technical session on “The NextEnterprise – Enabled by Internet of Everything”moderated by Mr.Vinay Dua with the followingpanellists

Mr. Dhanaraj Nadanasigamani EngineeringManager-1, Caterpillar Engineering DesignCenter - India,

Mr. Nalinikanth Gollagunta, ManagingDirector – Sales, CISCO

Mr.Tarun Mishra, Founder & CEO, Covacis

Mr. Clynton Almeida, Chief InformationOfficer, Redington India Ltd.

The real-time demo of the IoE in the textile sectorwas the highlight of the program.

The Program was attended by 60 participants.

Mr Manikam Ramaswami, Chairman and Managing Director,Loyal Textile Mills Ltd. addressed on “Future ofManufacturing - Make in India: An Industry Perspective

Mr. Clynton Almeida, Chairman, Expert Committee- IT/ITesanswering a query during the Panel Discussion


5th June 2014Discussion on Labour Laws with EFSI Representatives

The Chamber released the Study on Manufacturingin Tamil Nadu – A Regulatory Roadmap on 20thFebruary 2014 and made a presentation to the LabourDepartment, Government of Tamil Nadu. Based onthe outcome of the discussion with the LabourDepartment, the Chamber is in the process of doingan extended study on Labour Laws. Hence a meetingwith EFSI representatives and HR Experts was heldon June 5, 2014.

It was suggested that instead of going through allthe sections in Factories Act , only the most criticalsections which impede business could be considered.

After a detailed discussion, it was agreed that theChamber and EFSI would consolidate only the crucialpoints which need to be addressed in the FactoriesAct and Contract Labour Act under Labour Laws byanalyzing the sections in both the acts and splitting itinto Regulatory and Statutory procedures. An internalmeeting would be held again to finalize the proposalto be given to the Government. The final report willbe prepared and submitted to the necessaryauthorities and would be followed up intensively.

17th May 2014Programme on Sexual Harassment ofWomen(Prevention, Prohibition & Redressal) atWork Place Act 2013 at Coimbatore – Jointly by MCCI& SIMA.

The Sexual Harassment of Women at Work Place 2013Prevention Act came into force on December 9, 2013.To create awareness about the provisions of the Actand its applicability in corporate sector, this outreachtraining program was organized on 17th May 2014 atSIMA Auditorium in association with SIMA atCoimbatore.

Mr. Anand Gopalan, Partner, T.S.Gopalan’s officemade a presentation on the Act. He informed thatthe Act provided for protection against SexualHarassment (SH) of women at workplace, preventionof SH and redressal of complaints of SH.

Mr. P.M.Jegatheesan, Sugar Spinning Mills and Dr.P.Willington Jebaraj, Management Facilitator alsoaddressed the meeting.

A vibrant interactive session followed thepresentations. Mr. S.Sankaranarayanan proposed thevote of thanks.

The programme was attended by more than 40persons and ended with hi-tea.

LEGAL

The legal Committee had arranged for a discussion on Labour Laws with EFSI representatives totake up the Study on Labour Laws. Further, the Committee had arranged for an exclusive sessionon Sexual Harassment of Women(Prevention, Prohibition & Redressal) at Work Place Act 2013.

The Committee headed by Mr. Anand Gopalan met in September 2014 along with HRD Committeeto discuss about the changes in the PF Act. Further, discussions were held to complete the Studyon Labour Laws and to do a Legal Conclave.

Interactive session on Labour Laws in the Conference roomof the Chamber

Mr. Anand Gopalan, Partner, T.S.Gopalan’s office, Chairman,Expert Committee – Legal, making a presentation on the Act


important role. He stated KPL has the productswhich are to be marketed. He informed that around650 acres of land adjacent to the Port has beenpurchased by KPL. This land would be utilised forcommon warehousing facilities and the like. Hewelcomed suggestions and ideas for optimumutilization of this land.

He proceeded to elaborate on the connectivity statusto the port and on the ongoing projects regardingthe same.

Mr. Jayakumar, Deputy Chairman of Chennai PortTrust, thanked MCCI for organizing this meet. Hestated that ChPT and KPL have a good relationshipand hoped it would continue. He stated that roadcongestion at ChPT, which is the only negative aspect,is being addressed now.

Mr. R.Senthil Kumar, General Manager-CorporatePlanning & Business Development, KPL, made adetailed presentation on Kamarajar Port Limited(KPL) covering the following: The vast change in thetraffic from 2007 -08 till date, growth of automobilehandling by the port, capacity augmentation by theend of 12th plan, Development in 12th plan, Road &

13th June 20142nd Trade Meet with Kamarajar Port Limited

The 2nd Trade Meet with Kamarajar Port Limited(KPL) was organized at Hotel GRT Grand on 13th June2014. The objective of the Meet was to facilitateinteraction between the port authorities and the portusers, understand the facilities and expansion plansof KPL and to provide a platform for the Trademembers to review the actions of the previous trademeet and convey their expectations and thedemands from the port.

Mr. T.Shivaraman, in his welcome address briefedabout the close linkage the Chamber has with thePorts and how the Chamber was instrumental indeveloping the Chennai Port during the Britishperiod. He informed about the Chamber’sdelegations to International Ports, includingEuropean ports such as Antwerp, Rotterdam and toDubai, mainly to understand the good practicesfollowed and accordingly assist in scaling up ouroperations.

Mr. M.A. Bhaskarachar, Chairman & ManagingDirector, KPL, in his address stated that it is notsufficient to have a product. Marketing plays an

LOGISTICS

The Committee headed by Mr. J.Krishnan met thrice this year. The Committee discussed in detailabout the Road Safety Transport Bill and made a representation to the Government of India.

Further, as per the work plan, the Committee had various activities ranging from Interactionmeetings, awareness programs and Study visits.

The following programs were under the auspices of the Logisitics Committee

Mr. M.A. Bhaskarachar, Chairman & Managing Director, KPL,in his address stated that it is not sufficient to have a product.Marketing plays an important role.

Mr. J.Krishnan, Chairman, Expert Committee on Logistics MCCIwas the moderator for the technical session that followed.Others in the picture are (L to R) : Mr.Yanagida Hiroyuki,Mr. Pankaj Gadhia, Mr. R. Naresh, Mr. V. Ramanan andMr. R.Senthil Kumar


his presentation was on the consumers and futureof Project Cargo, parameters for selection of Port,expectations from Power Project and the importanceof Project Cargo.

Mr.V.Ramanan, Divisional Manager-Commercial,Brakes India, while addressing on the expectationsof the Auto Components Sector, described theactivities of Brakes India and elaborated on theOperations mapping – Exports – current scenario andexpectations, bottlenecks in imports, expectationsfrom Auto Components Sector.

The Deputy Chairman of Chennai Port Trust,Mr.Jayakumar and Mr. Atulya Mishra IAS, Chairman,Chennai Port Trust were present at the meet. TheKPL off icials interacted and answered all thequestions of the participants. The Meet was wellattended by 70 participants and ended with lunch.

Interactive meeting with the State Planning Commission wherein a presentation ofthe study was made by the Chamber

Rail connectivity, Land acquired from the SaltDepartment, etc.

Mr. J.Krishnan, Chairman, Expert Committee onLogistics MCCI was the moderator for the technicalsession that followed.

Mr. R.Naresh, Tirumalai Chemicals Ltd., spoke onPetro Chemical Products exports. He elaboratedabout their company, imports and exports and theirrequirements and expectations from the Port.

Mr. Yanagida Hiroyuki, Vice President – SCM, RenaultNissan Automotive India Pvt.Ltd., spoke about CarExports. He expressed happiness about KPL handlingautomobiles exports. He gave the requirements andexpectations with respect to car exports since theyare bound to increase in the near future.

Mr. Pankaj Gadhia, CEO, Lee & Muirhead Pvt. Ltd.,made a presentation on Project Cargo. The focus of

4th August 2014Study on Development of aLarge Multi User Non Major Portin Tamil Nadu

The Chamber was awarded astudy by the State PlanningCommission, Government ofTamil Nadu to carry out aFeasibility Study onDevelopment of a large multiuser non major port in TamilNadu. The Chamber took up thesame under the guidance of theLogistics Committee and

VC & CEO, Tamil Nadu Maritime Board,Mr. K. Appandu, Joint Secretary to Government,MSME Department, Mr.Sanjay Kumar, Director-Operations, Kamarajar Port Ltd, among others. Ms.Santha Sheela Nair, I.A.S .,(Retd), Vice Chairperson,State Planning Commission appreciated the effortsof the Chamber.There were very focuseddeliberations on the f indings. The commentsreceived were positive. The Chamber recommendedSilambimangalam as the location for developing a nonmajor port. Based on the suggestions received, minormodifications were made and the report submittedto State Planning Commission.

M/s Kalyani Maritime were appointed as the PrincipalConsultant for the study.

A detailed report was submitted to the State PlanningCommission and a presentation was made to seniorofficials of the SPC on August 4, 2014 for suggestionsand completion of the project.

The meeting was attended by Dr.Sugoto Dutt, I.F.S.,Member Secretary, State Planning Commission,Mr. Atulya Misra, IAS, Chairman, Chennai Port Trust,Mr. Rajeev Ranjan,IAS, Principal Secretary, Highwaysand Minor Ports, Mr. S. Krishnan, IAS, PrincipalSecretary, Planning & Development, & CEO, TNIDB,Mr. Ramesh Kumar Khanna, IAS Principal Secretary,


24th October 2014Interaction meeting with Mr.S.Anantharaman, ChiefOperations Manager – Southern Railways

As part of the work plan of Logistics Committee, aninteraction meeting with Mr.S.Anantharaman, ChiefOperations Manager, Southern Railway wasorganized on 24th October 2014,in the Conferenceroom of the Chamber. Mr.Ravindran, Chief FreightTransportation Manager, Southern Railway alsojoined the interaction meeting.

Mr. Anantharaman made a presentation on the Roleof Railways in the Logistics Chain.

This was followed by a presentation by the Chamberwherein the issues relating to setting up of dedicatedcar carrier, passenger logistics and air cargo logisticswere highlighted.

Mr.Anantharaman, while answering the variousqueries, stated that he is willing to provide

The focus on balancing environment andsustainability was lauded by the delegates.

The delegation was extremely appreciative of thisemerging world class business City. The discussionbetween the Chamber and Mr. Reddy centeredaround the trainings and programs that could beconducted by the Chamber for the businesses in andaround SriCity, the advantages and formalities oflocating businesses in the SEZ, the future plans ofexpansion for them etc.

The hospitality extended by Mr Reddy and his teamwas particularly acknowledged and appreciated bythe delegation members.

Mr.S.Anantharaman, Chief Operations Manager, SouthernRailway interacting with the members of the Chamber

Mr. Ravi Sanna Reddy, CMD of SriCity gave a warm welcome to the delegates and madean excellent presentation about SriCity

connectivity to the Port and make arrangementsfor shifting of cars and that the Chamber’s memberscan avail this opportunity. He suggested that adetailed proposal can be given by the Chamber.

There were good interactions and the participantsgreatly appreciated Mr. Anantharaman’s forthrightand precise presentation and his explicit views.

30th October 2014Visit to SriCity

As part of the work plan of theLogistics Committee, a visit toSri City was arranged by theChamber on October 30, 2014 tohave a firsthand experience onthe state of the art logistics,infrastructure and modernfacilities

Mr. Ravi Sanna Reddy, CMD of

SriCity gave a warm welcome to the delegates andmade an excellent presentation about SriCity, itsgenesis and its current status.

It was noted that nearly 100 major companies, fromover 25 countries have chosen to set up their factoriesand 60 companies have become operational already.The excellent infrastructure support provided by theSri City in terms of well laid roads ,sewage & watertreatment plants , uninterrupted power supply ,besides facilitation of single window clearances ,connectivity to major ports etc seemed to be themain attraction for major players like Pepsi, Kellogs,Alstom etc to choose this integrated business City.


VAT

The Committee headed by Mr. P.R.Subramaniyan made a concerted effort to do the TrainingCourse on TNVAT Act & CST Act. Various discussions were held with the Expert Committeemembers and specialized material was prepared for this course offered to working professionals.

6th January 2015Awareness Seminar on Dangerous GoodsRegulations

Under the auspices of the Logistics Committee, theChamber, along with Tirwin Management ServicesP. Ltd., a Chennai based Air Cargo training andconsulting organization had organized an AwarenessSeminar on Dangerous Goods Regulations on 6thJanuary 2015 at Hotel Deccan Plaza, Chennai. Thisseminar was to educate the stakeholders about theregulations that govern classification, identification,packing, marking, labeling and documentation forsafe transportation of dangerous goods.

Mr. N.Srinivasan, Past President, MCCI welcomed thegathering. He mentioned that the managementshould be able to determine the adequate insurancecover but added a caution, that there can be noinsurance for negligence. He also pointed out that e-commerce is here to stay and in such a case, packing,shipping, etc become more important. He concludedby mentioning that the MCCI Program should be alearning curve in this area and more such effortsshould be undertaken to increase awareness.

Mr. B. Govindarajan, CEO, Tirwin Management Services gavea detailed presentation on the Dangerous Goods Regulations.

Mr. U.K.Sinha releases the MCCI TNVAT Act & CST Act Course. First copy received byMr. P.R.Subramaniyan, Chairman, MCCI’s Expert Committee on VAT

In the Seminar, Mr. J. Krishnan, Chairman, ExpertCommittee, Logistics provided the outline for theprogram. Mr. P.S.Krishnan, President, CCHAaddressed the audience. Mr. A. Shanmugam,Director of Airworthiness, DGCA inaugurated theprogram.

Mr. B. Govindarajan, CEO, T irwin ManagementServices gave a detailed presentation on theregulations and touched upon various practical issuesciting interesting case studies.

The seminar was well attended by around 70participants.

24th July 2014Launch of TNVAT Course

The Launch of the TrainingCourse was on 24th July2014 at the 178th AnnualGeneral Meeting. The firstbatch commenced in themonth of August 2014.Experts on VAT fromdifferent Industries whoare part of the ExpertCommittee on VAT tookclasses. The feedbackreceived has beenexcellent.


21st January 2015

Awareness program on TotalSolutions Project

The Government of Tamil Nadu,Commercial Taxes Departmenthas made significant changes intheir e-Services and most ofindustry and business services,transactions, forms etc., havebeen made online through userfriendly software. Under theauspices of the VAT Committee,the Chamber in association withthe Commercial TaxesDepartment, Government ofTamil Nadu had organized anawareness session on the TotalSolutions Project, the softwaredeveloped by TCS at HotelDeccan Plaza on January 21,2015. This program was meantmainly for professionals in theDepartments of taxation,f inance and InformationTechnology.

Mr. P.R.Subramaniyan,Chairman, VAT Committeewelcomed the gathering.

A special address was delivered by Mr. M.Parameswaran, Joint Commissioner (CT),Chennai Central Division, Commercial Taxes, GOTN. Others in the picture – L to R :Mr. S.Sankaranarayanan, Deputy Secretary, MCCI, Mr. P.R.Subramanian, Chairman,Expert Committee on VAT, & Mr. T.Amarnath, Co Chairman, Expert Committee on VAT

A special address was delivered by Mr. M.Parameswaran, JointCommissioner (CT), Chennai Central Division, Commercial Taxes, GOTN.He thanked and appreciated the Chamber for organising this program as astep towards ensuring compliance. Mr.Parameswaran highlighted thebenefits of the software.

The team by TCS made presentations on the operating method of thesoftware. They briefed on the Home page, facilities created in the HomePage and its benefits.

The program was well attended and received by 80 participants. Thesuggestions made by the participants were noted by the officials whoinformed that they would consider the same before launching thesoftware.

Mr.Amarnath, Co-Chairman of VAT committee proposed vote of thanks.

6th September 2014

Valediction of Training Courseon TNVAT Act & CST Act

The first batch of the TrainingCourse on TNVAT Act & CST Actwas completed on 6thSeptember 2014. There was apositive feedback from thebatch comprising of 30students.

Mr. A. Sarvar Allam, AdditionalCommissioner (SMR) from theOffice of the Commissioner ofCommercial Taxes took part inthe valedictory session,addressed the participants anddistributed the certificates.

Mr. A. Sarvar Allam, Additional Commissioner (SMR) from the Office of theCommissioner of Commercial Taxes took part in the valedictory session, addressedthe participants and distributed the certificates.

Dr Allam during his address, mentioned that there was recently a meetingof senior bureaucrats held to discuss the issues on taxation and that MCCIfigured prominently in these discussions.


Mr.Ajay Yadav IAS Joint Commissioner, Commercial Taxes,Coimbatore Chief Guest addressing the audience

17th March 2015Awareness program on TSP (TNVAT) at Coimbatore

The Chamber received positive responses during theAwareness program on TNVAT at Madurai andrecognized the need for such awareness programsin other cities as well.

Hence, an awareness program on TSP was arrangedunder the auspices of the VAT Committeein Coimbatore on March 17, 2015.Mr. S.Sankaranarayanan, Deputy Secretary

as Mr. K.K. Sekar, Mr. P.R. Subramaniyan,Mr. G. Balakrishnan.

Mr. Venkat Prakash and Mr.Viqar Beigh, TataConsultancy Services & Commercial Taxes Officials,Madurai made a detailed presentation on thesoftware of Total Solutions Project -E GovernanceInitiatives by Commercial Taxes Department, Govt.of Tamil Nadu.

The program was well received and the participantssought lot of clarifications with the experts. Around55 members attended the program. The participantshave been requested to send their queries/issuesrelating to TNVAT to enable the Chamber torepresent to the State Government

The participation certif icates were given to thedelegates by Mr.P. R. Subramanian.

Mr. S. Sankaranarayanan, Deputy Secretaryanchored the meeting, gave a brief introductionabout the Chamber and proposed vote of thanks.

Mr.S.Vijaya Kumar, Joint Commissioner-CT, Madurai, ChiefGuest delivering the special address at the meeting.

31st January 2015

Management Development Program on TNVAT ACT& CST ACT @ Madurai

The Chamber organised a program on TNVAT Actand CST Act at Madurai on January 31, 2015.

Mr.P.R.Subramaniyan, Head, Indirect Taxes, L & TConstruction and Chairman, VAT Committee, MCCIwelcomed the Chief Guest and the participants. Heinformed about the success of the certificate courseon TNVAT by the Chamber, recent meeting on TSPheld in Chennai and the elaborated the VATcommittee activities.

Mr.S.Vijaya Kumar, Joint Commissioner-CT, Maduraiwas the Chief Guest and delivered a special addressat the meeting.

Mr.Vijaya kumar mentioned that Tamil Nadu is thepioneer in levy and collection of Sales tax right fromthe Madras General Sales Tax Act 1939, when CTdepartment was formed in 1939 to administer theAct. He appreciated the contribution of a few bigcompanies like TVS Group for their tax payments tothe CT Department.

Mr.Vijaya Kumar appreciated the agenda given bythe MCCI covering various vital topics. He furtherhighlighted the e-Governance initiative of theCommercial Taxes department through TotalSolution Project (TSP) and informed the benefits ofthe TSP

Mr.K.K.Sekar, Head, Indirect Taxes, Ashok LeylandLtd and Co- Chairman of Indirect Taxes Committee,MCCI proposed the vote of thanks

In the technical session that followed theinauguration, 8 topics were handled by experts such


Mr.Shanmuganathan, Joint Commissioner, Commercial Taxes,Trichy was the Chief Guest and he addressed the participantsat the inaugural session at Trichy

represented and coordinated the activities inCoimbatore & Trichy. Ms. K. Saraswathi attended theprogram at Coimbatore.

The TSP is a new software developed by TCS foravailing the e-services of the Commercial TaxesDepartment, Government of Tamil Nadu. The aim isto reduce the hardships and minimise the conflictsbetween the Government and the assessees. TSPcovers all the procedural aspects of Tax remittancesand tax management.

Mr.Ajay Yadav IAS Joint Commissioner, CommercialTaxes, Coimbatore was the Chief Guest for the

Awareness session. He appreciated the Chamber fororganising such awareness programs. He furtherinformed that the TSP would be released in twophases. The 1st phase would cover, e-registration, e-renewals, e-payments, , e-returns and statutoryforms. The 2nd Phase would cover check post,enforcement, appellate, CST sales and moreconnected transactions.

Mr.Venkat Prakash and Mr.Siva Subramanian, bothrepresenting TCS-TNVAT, made demo presentationsand interacted with the delegates. There was a goodinteraction from 50 participants.

18th March 2015Awareness program on TSP (TNVAT) at Trichy

An awareness program on TSP was arranged underthe auspices of the VAT Committee in Trichy onMarch 18, 2015.

Mr. Shanmuganathan, Joint Commissioner,Commercial Taxes, Trichy was the Chief Guest andhe addressed the participants at the inauguralsession. He expressed appreciation to the Chamberfor organising this awareness program. 30participants took part in the training.

The suggestions made by the participants in Trichyand Coimbatore have been noted by TCS officials to

Management launched jointly with University ofMadras, new models like GET ( Graduate EmployeesTraining) are efforts in this direction.

The Chamber is in the process of developing anappropriate business model, identifying crediblepartners to take forward the activities of the SkillDevelopment Centre.

Select trainings including short term courses on basiccomputer skills, Tally etc , and few technical coursesare conducted regularly in our centre at Tiruvallur.Many new and high end programs are in the pipeline.

The plan is to offer Short Term technical Courses andCustomized programs for the member industries andalso vocational courses for different skills like welding,plumbing, electrical, etc., for the youth. In addition,employability training for fresh graduates / studentswould also be offered under the Skill DevelopmentProject. Diploma programs like Global Trade

MCCI VOCATIONAL TRAINING ANDSKILL DEVELOPMENT CENTRE

take it forward to the Government, beforeimplementation.

Computer training course conducted at the centre.


Workshop on Companies Act 2013 with Notified Rules- 10th and 11th April 2014

The program was well arranged and definitelyuseful. Eye opener on various areas that we needto start working on as a listed entity.

N. Sivalai SenthilnathanGeneral Manager - Finance and Company SecretaryWABCO INDIA LIMITED

Thank you for the excellent workshop onCompanies Act 2013. I am sure that this will enliventhe learning process with regard to the new Actand corresponding rules to all the delegates whowere present yesterday.

SHIJO K JDLS

Thanks for the fantastic event. I look forward tomore.

Aarthi SivanandhJ S A LAW

Training Program - ISO 50001 - Energy MangementStandard - 21st May, 2014.

The Program was very useful and look forward toparticipate in similar events in future. Thanks onceagain. Regards

P.PremkumarDGM (Works Engg)Delphi TVS Diesel Systems Ltd? Mannur -602105

Greetings from IAL

Thanks for inviting us for the Training Programmeon Energy Management System ISO 50001. It wasvery useful for us.

We are very much interested in this standard andwould like to attend the future training Programmealso.

Selvam P S,Senior HSE Executive & MR,Indian Additives Limited,

Following were the reactions of some of our members to the various programsorganised by the Chamber during the year

Annual Report of MCCI

Thank you very much for promptly sending us acopy of your Annual Report for the year 2013-14.The report has come out exceedingly wellincluding the layout and the contents. Mycongratulations to you for bringing out such awonderful compiled publication.

With kind regards

T S Sampath KumarSecretary GeneralBangalore Chamber of Industry and Commerce

Felicitation function for Mr. N Srinivasan - 15th July,2014 - Hotel Hyatt Regency

I express my sincere thanks to Madras Chamberand MMA for taking the initiative to organise aFelicitation function in honour of Shri NSrinivasan, Vice-Chairman and Managing Director,The India Cements Ltd on his becoming the firstIndian Chairman of revamped ICC.

Our Managing Director expressed his happinessand satisfaction with the efforts taken by you all fororganising such a grand function. He appreciatedthe thoughts shared by the Captains of Industry,Cricketers and cricket administrators. He is alsooverwhelmed by the well organised functionthat was well attended.

The entire function was meticulously plannedleaving no stone unturned for executing it withprecision and punctuality.

Keeping our past valuable association in mind, welook forward to similar occasions in the near future

I thank you once again for the thoughtfulgesture, which will always remain close to myheart.

Yours Sincerely, We remain

V BalasubramanianVice-President, Corporate CommunicationThe India Cements Ltd

MEMBERS SPEAK


June – July Intouch released in August 2014

Well done on this latest issue of In-touch on all the

recent events at MCCI - really good newsletter!

Christie Cherian

Red Sky Property Services

MCCI Chamber Day - 29th September, 2014

Congratulations on your 178th Chamber Day

celebration....it is quite a record! And wishing that

the Chamber continues to grow from strength to

strength.

All good wishes to the entire team as you celebrate

this enviable milestone.

Dr Hema,

MSE

FFT on “How smart (a) city can be ?” on Friday,

October 10, 2014

Thank you for inviting me to the MCCI FFT. It was

very relevant and useful. The speakers were well

selected! “Smart Home” is the nucleus to the

development of a “Smart city” and perhaps one

speaker could have touched upon this as well!

N.Shankar

CEO – XS Real

Interaction meeting with Mr.S.Anantharaman, Chief

Operations Manager, Southern Railway - 24th

October

Interaction meeting is informative , opportunity to

know about railway functioning and industry

expectation.

Nachiappan

GM – SPIC

Interaction Meeting with Hon’ble Minister Mr.Nitin

Jairam Gadkari - 3rd November - ITC Grand Chola - 7

pm

Pl. accept my congratulations for the excellent

meeting organised by MCCI yesterday at ITC Grand

Chola.

All the arrangements were of very high order and

the extempore speech by our honourable minister

Mr. Gadkari was a pinnacle to the whole event.

All the very best

Ramesh Babu

Shardlow India Limited.

Program on State of Indian Economy – 23rd December

2015

Once again, a very big thank you to all of you for

organising an excellent programme on the Indian

economy. It was intellectually stimulating and very

interesting. A great way to end the year.

Mr. V. Vijay Kumar,

Chief Representative, NBSO, Chennai

Coffee Table Book

My friend Sanjay Pinto formerly of NDTV News has

been asked to produce a book about K. Parasaran.

I’ve recommended that he follow your Chamber of

Commerce book. It is a very high standard to set

but you set the bar very high. It’s not just a coffee

table book. It’s an amazing historical resource.

Vikram


GUEST SPEAK




CHAMBER IN THE NEWS





MCCI Representation on Public Bodies

Organisation Representative

Central Excise Commissionerate I Mr. K. VaitheeswaranAdvocate & Tax Consultant

Regional Advisory Committee Mr. P. R. SudhakarBrakes India Ltd.

Central Excise Commissionerate II Mr. P. R. SubramaniyanLarsen & Toubro Ltd. (Construction)

Regional Advisory Committee

Central Excise Commissionerate III Mr. K. K. SekarAshok Leyland Ltd

Regional Advisory CommitteeCE – Public Grievance Committee

Central Excise Commissionerate IV Mr. P. R. SudhakarBrakes India Ltd.

Regional Advisory CommitteeRegional Direct Taxes Advisory Committee Mr. Sriram Seshadri

BMR & Associates LLP

Service Tax Commissionerate Mr. K. VaitheeswaranAdvocate & Tax Consultant

Regional Advisory Committee

Member, Airport Users’ Consultative Committee(AUCC) Mr. J. KrishnanBoard of Trustees, Chennai Port Trust S.Natesa Iyer & Co.Kamarajar Port Ltd., Advisory BoardChennai Trade Coordination CommitteeCustoms Advisory CommitteeCargo Facilitation Committee – AAI

Business Development Cell of Chennai Port Trust Capt. Suresh N AmirapuPortman India Private Ltd.

Senate of the Annamalai UniversitySustainable Chennai Research Consortium Ms. K. SaraswathiUniversity of Madras – Oikos Chennai Chapter Secretary GeneralVoluntary Health Services – Central Committee


PRESIDENT

VICE PRESIDENT

GENERAL COMMITTEE

SECRETARY GENERAL

�� - Company Law /Corporate Matters- Direct Taxes- Economic Affairs- Education- Energy- Environment, Pollution Prevention & Control - Commercial Arbitration- Financial Sector- HRD & CSR- Indirect Taxes - Visa Recommendation- Industrial Development / Infrastructure- IT & ITES- Legal Affairs- Logistics - Issue of Certificate of Origin- Manufacturing- Media- VAT

Trade Information:- Publications - Membership- Members’ database - Accounts- Information database - Establishment- Website

Auditors:Messrs. RGN PRICE & CO.

Madras Chamber Secretariat:Mrs K Saraswathi Secretary GeneralMr S Sankaranarayanan Deputy SecretaryMrs Madhumathi C Deputy SecretaryMrs B Highland Manager (Trade Facilitation)Mr P S Mohan Manager (Accounts)Mrs D Vasumathi Executive (Admin & Programmes)Mrs S Srividya Executive (Member Services)

Support StaffMr A ElumalaiMr R Suresh

THE ORGANISATION


A4 I Apps Solutions Private LimitedA J Trust Educational ConsultancyA S Shipping Agencies Private LimitedA V Thomas & Co. LimitedAapt Distribution Private Limited (Formerly - TionaleImpex)Acrastyle Power Private LimitedAdayar Gate Hotel Limited (Formerly - ITC SheratonPark)Addison & Co. LimitedAdrenalin eSystems LimitedAgaram Infotech Private LimitedAGP International ServicesAkzo-Nobel India LimitedAlcatel-Lucent India LimitedAlfanar Engineering Services India Private LimitedAlliance Infrastructure Projects Private LimitedAllison Transmission India Private LimitedAllsec Technologies LimitedAlpha Water Technologies India Private LimitedAlpharithm Technologies Private LimitedAlstom T & D India LimitedAltacit GlobalAmalgamations Private LimitedAmbattur Clothing LimitedAmman Try Sponge & Power Private LimitedAmrutanjan Health Care LimitedAnand & AnandAnand Automotive Private LimitedAnand, Samy & DhruvaAndritz Technologies Private LimitedApex Laboratories Private LimitedApps Business IT Solutions Private LimitedAqua Designs India Private LimitedAquatherm Engineering Consultants (India) PrivateLimitedArjun Chemicals Private LimitedArkema Peroxides India Private LimitedArmstrong International Private LimitedASA & Associates LLPAshok Leyland LimitedAshok Leyland Nissan Vehicles LimitedAspiration Energy Private LimitedAumund Engg. Private LimitedAuro Mira Energy Company Private LimitedAVA Cholayil Health Care Private LimitedAvalon ConsultingAvant-Garde Engineers & Consultants Private LimitedAvant-Garde Systems and Controls Private LimitedAyan Tech Solutions Private LimitedAyyan Consultant

BB & G Infrastructure Company Private LimitedBank of AmericaBasco IndiaBashgo Maintenance Services Private LimitedBeardsell LimitedBeva Silicones Private LimitedBGR Energy Systems LimitedBhaha Engineering ServiceBharat Petroleum Corporation LimitedBharti Airtel LimitedBlackstone Group Technologies Private LimitedBMR & Associates LLPBNP ParibasBrakes India LimitedBritannia Industries LimitedBS & B Technologies Private LimitedBSD & AssociatesBSR & Co.Buildcraft Interior Private LimitedBumi Geo Engineering Limited

CCADD Centre Training Services PrivateLimitedCalibre Lubricon Private LimitedCameo Corporate Services LimitedCapricorn Food Products India LimitedCaravel Logistics Private LimitedCargotec India PrivateLimitedCastrol India LimitedCauvery Power Generation Chennai Private LimitedCavinKare Private LimitedCBRE South Asia Private LimitedCEM Business Solutions Private LimitedChain-Sys India Private LimitedChakiat Agencies Private LimitedChemplast Sanmar LimitedChennai Petroleum Corporation LimitedChettinad Cement Corporation LimitedChidambaram Shipcare Private LimitedCholayil Private LimitedCity Union Bank LimitedCogent Innovations Private LimitedCognizant Technolgy Solutions India PrivateLimitedComputer Age Management Services PrivateLimitedComputer Sciences Corporation India Private LimitedContemporary News Private LimitedCorporate Consulting GroupCorporation BankCrompton Greaves LimitedCSB Services Asia Pacific LimitedCSS Corp. Private Limited

CORPORATE MEMBERS


DDaimler India Commercial Vehicles Private LimitedDamodar Tradelinks Private LimitedDarts India Private LimitedDatacert Consulting Private LimitedDatif Map SolutionsDeloitte Haskins & SellsDelphi-TVS Diesel Systems LimitedDeutsche Bank AGDharsan Dredging & ConstructionDHL Express (India) Private LimitedDiana Shutters Private LimitedDigital Logiciel Solutions Private LimitedDORMA India Private LimitedDurr India Private LimitedDynamic Netsoft Solutions India Private LimitedDynamic Netsoft Technologies PrivateLimitedDyrocon Airtech Private Limited

EEasun - MR Tap Changers Private LimitedEasun Reyrolle LimitedEasy SolutionsEconomic Laws PracticeEmrald Resilient Tyre Manufacturers Private LimitedEngenius Erectors Private LimitedEnmas Andritz Private LimitedEnmas O & M Services Private LimitedE-Novas Control and Automation LLPEntvent Tools & ServicesErnst & Young LLPESAB India LimitedETA Engineering Private LimitedETA Star Property Developers LimitedEthical Intelligent Technologies LLPEurocon TilesEveready Industries India LimitedEverest Industries LimitedExcel Optics Private LimitedExpress Infrastructure Private Limited

FFar N Par India Private LimitedFarm Implements (I) Private LimitedFederal Bank LimitedFichtner Consulting Engineers (I) Private LimitedFiducial Insurance Brokers India Private LimitedFirst Engineering Plastics India Private LimitedFLSmidth Private LimitedFluidtherm Technology Private LimitedForbes & Company LimitedFord India Private Limited

Fox Mandal & AssociatesFrendi Fashions Private LimitedFuturenet Technologies India Private Limited

GG M Pens International Private LimitedGalipoglu Hidromas India Mfg. Private LimitedGates Unitta India Company Private LimitedGBA Consulting Private LimitedGE Energy Power ConversionGemini Iron & Steel Private LimitedGemini Sea Air Freight ServicesGencor Pacific Organics India Private LimitedGillanders Arbuthnot & Co. LimitedGlobelink WW India Private LimitedGMV Projects and SystemsGood Care Enviro System Private LimitedGordon Woodroffe Logistics LimitedGP ConsultantsGreaves Cotton Limited - ChennaiGreaves Cotton Limited - RanipetGreta Investments LimitedGrundfos Pumps India Private LimitedGSV AssociatesGuardian Anti Corrosives Private LimitedGulf Consult Designers& Engineers Private Limited

HH P Valves & Fittings India Private LimitedHaribhakti & Co. LLPHariharan Foundations Private LimitedHauer AssociatesHermes I Tickets Private LimitedHindalco Industries LimitedHinduja Foundries LimitedHindustan Unilever LimitedHousing Development Finance Corporation LimitedHVK Systems & Marketing Private LimitedHyundai Motor India Limited

II Acharya SiliconICRA Management Consulting Services LimitedIDBI Bank LimitedIFFCO TOKIO General Insurance Company LimitedIL & FS Education & Technology Services LimitedImageGrafix Engg. Services Private LimitediNautix Technologies India Private LimitedIndia Cements Capital LimitedIndia Pistons LimitedIndian Additives LimitedIndian Bank


Indian Oil Corporation LimitedIndian Overseas BankIndian Potash LimitedInfo-Drive Analytics Private LimitedInformation Dynamics India Private LimitedIntegrated Foods & Consumer Products (India)Private LimitedInternational Clearing & Shipping Agency ( India)Private LimitedInternational Flavours & Fragrances India PrivateLimitedInternational ServicesInvensys India Private LimitedIP Rings LimitedITC Limited

JJ Cynergy Dental & MedicalJ Sagar AssociatesJohnson & Johnson LimitedJohnson Lifts Private LimitedJones Lang Lasalle Property Cons. (India) PrivateLimitedJumbo Bag Limited

KK I (International) LimitedK Steamship Agencies PrivateLimitedK.Vaitheeswaran & Co.Kaleesuwari Refinery Private LimitedKannan Fibre IndustriesKarnataka Bank LimitedKasturi & Sons LimitedKCP Sugar & Industries Corporation LimitedKeld Ellentoft (I) PrivateLimitedKemin Industries South Asia Private LimitedKentz Engineering (India) Private LimitedKerns Aeroproducts Private LimtiedKilburn Electricals LimitedKiran Global Chems LimitedKnowledge Capital Investment GroupKochhar & Co.Kone Elevator India Private LimitedKotak Mahindra Bank LimitedKothari Safe Deposits LimitedKrebs Engineering Private LimitedKrishnan & NatarajanKriti Kare India Private LimitedKriyaa Consultants & Engineers Private LimitedKumar & RajKumar & Velayudham

LL & T Valves LimitedL&T Ship Building Limited - Port DivisionLakshmi Machine Works LimitedLarsen & Toubro - ConstructionLee & Muirhead Private LimitedLeitwind Shriram Mfg. LimitedLNV Technology Private LimitedLogic Information Systems (India) Private LimitedLogictree Capital Advisors Private LimitedLogitrans Technology Private LimitedLovelock & LewesLucas Indian Service LimitedLucas TVS Limited

MM K Raju Consultants Private LimitedMacmillan Publishers India LimitedMadras Auto Service (TVS Group)Madras Consultancy GroupMagtaan Travels & Holidays Private LimitedMahindra World City Developers LimitedManagement and Governance Consulting PrivateLimitedMark Softech Private LimitedMarket Simplified India LimitedMash Shipping & Logistics Private LimitedMaveric Systems LimitedMB Metallic Bellows Private LimitedMecaplast India Private LimitedMedopharmMetallic Bellows (I) PrivateLimitedMetronic Engineering Private LimitedMitsubishi Elevator ETA India Private LimitedMonarch Scientific WorksMRF LimitedMTL Instruments Private Limited

NN C Rajagopal & Co.N Venkataraman & AssociatesNagman Instruments & Electronics Private LimitedNamakkal Transport Carriers Private LimitedNanchil Infrastructure Private LimitedNav Indus Food Machines Private LimitedNBC Weldmesh Private LimitedNeophyll Agrisciences Private LimitedNevera Infratech Private Limitednice Neotech Medical Systems Private LimitedNile Marine ServicesNippon Paint (India) Private Limited


NIST Institute Private LimitedNubiola India Private LimitedNutra Specialities Private Limited

OObject Frontier Software Private LimitedOceanic Edibles International LimitedOcrim International Technologies Private LimitedOjus Power and Technologies Private LimitedOlam Information Services Private LimitedOmnex India PrivateLimitedOomsys Technologies (India) Private LimitedOpen Source Webware Private LimitedOrchid Chemicals & Pharmaceuticals LimitedOren Hydrocarbons Private LimitedOrient Green Power Co. LimitedOriental Hotels LimitedOriental Hydraulics Private LimitedOriental Solutions Private LimitedOrigin ITFS Private Limited

PP K Power Appliances Private LimitedParagon Polymer Products Private LimitedParamount Shipping Services Private LimitedParry Agro Industries LimitedPatel Mohan Ramesh & Co.Pavo Power Engineering Private LimitedPeirce Leslie India LimitedPentland India Trading Private LimitedPet Moulds Private LimitedPetrofac Engineering Services India Private LimitedPhilips Electronics India LimitedPiramal Enterprises LimitedPKF Sridhar & SanthanamPL Worldways LimitedPolaris Consulting & Services LimitedPortman India Private LimitedPower Soaps LimitedPPM AssociatesPrakash Foods & Feed Mills Private LimitedPrecia Molen India LimitedPrecision Equipments (Chennai) Private LimitedPrice WaterhousePrimex Healthcare & Research Private LimitedPrint PlusProactive Solutech (India) Private LimitedProtech Consultants Private LimitedProtechsoft Systems Private LimitedProtechsoft Technologies Private LimitedProtection Engineering and Research Laboratories

Prou India Engineering Private LimitedPSL Limited

RR K Swamy BBDO Private LimitedR Subramanian & Co.R Sundararaman & Co.Radisson RadiatorsRaj Petro Specialities Private LimitedRajsriya Automotive Industries Private LimitedRam E&I Systems Private LimitedRamesh and RamachandranRane (Madras) LimitedRane Brake Lining LimitedRane Engine Valve LimitedRane TRW Steering Systems LimitedRaqmiyat Information Technology Private LimitedRaunaq Steels Trading Private LimitedRedington (India) LimitedRegal Interiors Private LimitedRepute Infotech and Enterprises LimitedREV ConsultingReva Phoenix Engineers & Cons. India Private LimitedRevathi Equipment LimitedRGN Price & Co.Rotork Controls India Private LimitedRoyal Sundaram Alliance Insurance Co. LimitedRRB Energy LimitedRVK & Co

SS Natesa Iyer & Co.S Venkatram & Co.Sai Titanium Products Private LimitedSaint-Gobain Glass India LimitedSaipem India Projects Private LimitedSame Deutz Fahr India Private LimitedSamsung India Electronics Private LimitedSamvad PartnersSan Media India LimitedSanco Trans LimitedSapcle Technologies Private LimitedSAS Partners Corporate Advisors Private LimitedSattva Logistics Private LimitedSB SB and AssociatesSchneider Electric Infrastructure LimitedSchwing Stetter (India) Private LimitedScope International Private LimitedSemanoor Technologies Private LimitedSensiple Software Solutions Private LimitedShardlow India Limited


Shriram EPC LimitedShriram Transport Finance Co. LimitedSimpson & Co. LimitedSkylift Cargo Private LimitedSNC & AssociatesSofteon India Private LimitedSolverminds Solutions & Technologies PrivateLimitedSpark Capital Advisors (I) Private LimitedSpearheaders Management Consultants PrivateLimitedSPI Cinemas Private LimitedSpudweb Technologies Private LimitedSri & Sri AssociatesSri City Private LimitedSri Krishna SweetsSrinivasan & ShankarStahl India Private LimitedStandard Chartered BankState Bank of IndiaStonecolour Exim Private LimitedStud IndiaSubbaraya Aiyar Padmanabhan &RamamaniSundaram & SrinivasanSundaram Asset Management Co. LimitedSundaram BNP Paribas Home Finance LimitedSundaram Clayton LimitedSundaram Finance LimitedSundram Fasteners LimitedSuper Auto Forge Private LimitedSupreme Petrochem LimitedSurana & Surana International AttorneysSwamy AssociatesSwiss Garnier Life SciencesSwitzer Instrument LimitedSwitzer Process Instruments Privae LimitedSymbiotic Infotech Private LimitedSymrise Private Limited

TT S Gopalan & Co.T V Sundram Iyengar & Sons LimitedT&B International Private LimitedTaces Engineering (India) Private LimitedTAFE Access LimitedTakraf India Private LimitedTalbros Automotive Components LimitedTANFAC Industries LimitedTebma Shipyards LimitedTechnology AssociatesTemenos India Private LimitedThe Hongkong & Shanghai Banking Corp. Limited

The India Cements LimitedThe Karur Vysya Bank LimitedThe Lakshmi Vilas Bank LimitedThe Ramco Cements LimitedThejo Engineering LimitedThomson Press (India) LimitedThyssenkrupp Industries India Private LimitedTianjin Tianshi India Private LimitedTidal Wave Infotech Private LimitedTide Water Oil Co. (I) LimitedTirwin Management Services Private LimitedTitanium Equipment and Anode Mfg. Co. LimitedToCheungLee Stationery Mfg. Co. LimitedToshiba Machine (Chennai) Private LimitedTractors & Farm Equipment LimitedTranslink Logistics Private LimitedTreeline Business Solutions Private LimitedTreyaa Newtech LimitedTrichy Distilleries & Chemicals LimitedTrivitron Healthcare Private LimitedTTK Protective Devices LimitedTurbo Energy LimitedTVS Logistics Services LimitedTVS Motor Company Limited

UUcal Auto Private LimitedUdwadia Udeshi & Argus PartnersUltra Tile Private LimitedUltratech Cement LimitedUnited India Insurance Co. LimitedUnited India Insurance Co. LimitedUnited Liner Agencies of India Private LimitedUnited Spirits LimitedUnity Forge Private Limited

VV Ramachandran , AdvocatesV V Titanium Pigments Private LimitedVA Tech Wabag LimitedVadim Infrastructure Private LimitedVaishnavi Freight Logistics Private LimitedValmet Chennai Private LimitedValmet Technologies Engineering Services PrivateLimitedVanan Pharma Private LimitedVanilla Holdings & Investments Private LimitedVictor Grace & Co.Victoria Technical InstituteViking Shipping (Chennai) Private LimitedVirgo Polymers (I) LimitedVistasoft India Private Limited


Visteon Automotive Systems India Private LimitedVivid Edge Software Solutions Private LimitedVoltas LimitedVyosoft Solutions Private Limited

WW S Industries (I) LimitedWABCO India LimitedWalker, Chandiok & Co.Waves Telecom Private LimitedWavin India LimitedWeiss Rohlig India Private LimitedWheels India LimitedWilliam Hare (India) Private LimitedWinsar Infosoft Private Limited

Affiliate Members

XXS Real Properties Private Limited

YYazaki Wiring Technologies India Private LimitedYes Bank Limited

ZZamil Steel Engineering India Private LimitedZeal Direct & Reinsurance Broking Services PrivateLimited

St. Joseph’s College of EngineeringSt. Joseph’s Institute of TechnologyT. Stanes & Co. LimitedThe Cocanada Chamber of CommerceThe Karur Textile Manufacturers Exporters’AssociationThe Madras Electric Trades AssociationThe Madras Piecegoods Merchants’ AssociationThe Malabar Chamber of CommerceThe Netherlands Business Support OfficeThe Planters’ Association of TamilnaduThe South Indian Sugar Mills’ AssociationThe United Nilgiri Tea Estates Co. LimitedThe United Planters’ Association of Southern IndiaTuticorin Chamber of Commerce & Industry

Honorary Members:The Chief Post Master General, Tamil NaduGeneral Manager, Southern RailwayChief General Manager, Chennai TelephonesChairman, Chennai Port TrustChief Commissioner of Customs, ChennaiMr C S Krishnaswami, Chennai

Ambattur Industrial Estate ManufacturersAssociationArmy Welfare Placement NodeASSISTBritish Business Group Chennai TrustDharmamurthi Rao Bahadur Calavala CunnanChetty’s Hindu CollegeEnergy&Fuel Users’ Association of IndiaGBTCGolden Jubilee Biotech Park for Women SocietyGreat Lakes Institute of ManagementIndustrial Waste Management AssociationInstitute for Financial Management and ResearchKCG College of TechnologyLoyola-ICAM College of Engineering and TechnologyMinistry of Foreign Affairs of DenmarkMOP Vaishnav College for WomenNani Palkhivala Arbitration CentreRenewable Energy Harvesting Envrn. NetworkAssociationSaveetha Engineering CollegeSri Chandrasekharendra Saraswathi V iswaMahavidyalaya


1868 Mr Alexander Forrester BrownMr William Reirson Arbuthnot

1869 Mr Alfred John ByardMr John Charles Loch

1870-71 Mr Patrick Macfadyen1872 Mr Robert Chillingworth Walker

1873 Mr Alexander Forrester Brown1874 Mr Patrick Macfadyen1875 Mr Clement Simpson

1876 Mr Patrick Macfadyen1877 Mr Patrick Macfadyen

Mr John Jones1878 Mr Alexander Mackenzie

1879 Mr Alexander Mackenzie1880 Mr Patrick Macfadyen1881-82 Mr Clement Simpson

1883-84 Mr James Charles Shaw1885 Mr John Alexander Boyson1886 Mr George Gough Arbuthnot

1887 Mr S R Tumbull1888 Mr S R Tumbull

Mr D Rasbotham1889-90 Mr J A Boyson

1891-92 Mr S R Tumbull1893-94 Mr J A Boyson1895 Mr G G Arbuthnot

Mr G L Chambers

1896 Mr G L Chambers1897 Mr G G Arbuthnot1898 Mr G G Arbuthnot

Mr S R Tumbull

1899 Mr S R TumbullMr E P Vans Agnew

1900 Mr G G Arbuthnot1901 Sir George Arbuthnot

Mr A J Yorke

1902 Mr A J Yorke1903 Sir George Arbuthnot

Mr H Scott1904 Sir George Arbuthnot

1905 Mr A J Yorke1906 Mr A J Yorke

Mr V G Lynn1907 Mr V G Lynn

1910-11 Mr Hugh Fraser

1836 Mr John Alves Arbuthnot

1837 Mr John Alves ArbuthnotMr John Williams Dare

1838 Mr John Williams DareMr William Scott Binny

1839 Mr William Scott BinnyMr John Line

1840 Mr John LineMr James Scott

1841 Mr James Scott1842 Mr James Scott

Mr John Utley Ellis

1843 Mr John Utley EllisMr J Ouchterlony

1844 Mr J Ouchterlony1845 Mr J Ouchterlony

Mr James Thomson

1846 Mr James ThomsonMr John Binny Key

1847 Mr John Binny KeyMr George Arbuthnot

1848 Mr George Arbuthnot

1849 Mr Henry Nelson1850 Mr William Mc Taggart

Mr William Urquhart Arbuthnot1851 Mr J Ouchterlony

1852 Mr Joseph Goolden1853 Mr James Scott

Mr J Ouchterlony1854 Mr James Scott

Mr Robert Orr Campbell

1855 Mr Robert Orr Campbell1856 Mr J Ouchterlony

Mr John Binny Key1857 Mr William Hamilton Crake

1858 Mr John Vans Agnew1859-60 Mr Henry Nelson1861 Mr Alfred John Byard

Mr William Reirson Arbuthnot

1862 Mr William Reirson ArbuthnotMr Robert Orr Campbell

1863 Mr William Hamilton Crake1864 Mr Alfred John Byard

Mr Henry Tolputt

1865 Mr Henry TolputtMr John Young

1866-67 Mr Alexander Forrester Brown

(From the year 1996 the designation of Chairman was changed to President)

PAST CHAIRMEN /PRESIDENTS


1962 Mr B B Dod

1963 Mr M J Edwards, O.B.E1964 Mr D M Law1965 Mr A M Murugappa Chettiar

(till 31st October 1965)Mr A W Stansfeld

1966 Mr A W Stansfeld1967 Mr John K John1968 Mr E W D Jeffares, M.C

1969 Mr A M M Arunachalam1970 Mr M E Bourcier1971 Mr C P Featherstone

1972 Mr N S Bhat1973 Mr A K Sivaramakrishnan1974 Mr M M Muthiah

1975 Mr P D Whiteley1976 Mr C D Gopinath1977-78 Mr J K Clubwala

1979-80 Mr A Sivasailam1981-82 Mr M K Kumar1983-84 Mr K V Sitaram

1985-86 Mr N Sankar1987 Mr M V Murugappan

1988 Mr Hari Eswaran

1989-91 Mr V Chidambaram

1991-93 Mr N Venkataramani

1993-94 Mr N Srinivasan (F&R)

1994-96 Mr L Lakshman

1996-98 Mr N Srinivasan (ICL)

1998-99 Ms Mallika Srinivasan

1999-2000 Mr G K Raman

2000-2001 Mr L Sabaretnam

2001-2002 Mr N Ramachandran

2002-2003 Mr K V Shetty

2003-2004 Mr B Natraj

2004-2005 Mr Murali Venkatraman

2005-2006 Mr V Balaraman

2006-2007 Mr A Sankarakrishnan

2007-2008 Mr Arun Bewoor

2008-2010 Mr Srinivasan K Swamy

2010-2012 Mr T T Srinivasaraghavan

2012-2014 Mr T Shivaraman

1912 Mr A D Jackson

1913 Mr A D JacksonMr W B Hunter

1914 Mr A D JacksonSir Hugh Fraser

1915-17 Mr Gordon FraserMr C E Wood

1918-19 Mr Gordon FraserMr C E Wood

1920-21 Mr James Simson1922 Sir James Simson

Mr W Alexander

1923 Sir Gordon FraserMr C E Wood

1924-25 Mr T M Ross1926-27 Mr C E Wood

1928 Mr K Kay1929-30 Mr H F P Hearson1931 Mr F Birley

1932 Mr K Kay1933 Mr W M Browning1934 Mr W M Browning

1935 Sir William Wright, O.B.E1936 Mr F Birley1937 Mr G A Bambridge1938 Mr D M Reid, O.B.E

1939 Sir Gerald Hodgson1940 Sir Robert Denniston1941-43 Mr J Nuttal

1944 Mr C Elphinston1945-46 Mr H S Town1947 Mr W T Williams

1948 Mr H I Wonfor, C.B.E.1949 Mr B W Batchelor1950 Mr H I Wonfor, C.B.E.

1951 Mr H S Macqueen1952-53 Mr H I Wonfor, C.B.E.1954 Mr R E Castell, C.B.E.

1955 Mr T Rogers1956 Mr J R Galloway1957 Mr G N Noel – Tod, C.B.E.

1958 Mr E J M Leigh1959 Mr P Hadfield1960 Mr E F G Hunter

1961 Mr R M King


R.G.N. PRICE & CO.Chartered Accountants

Phone: 28413633 & 28583494 Simpson’s BuildingTelefax: 28544569 Post Box No.335E-mail: [email protected] 861, Anna SalaiOffices at: Mumbai, Bangalore, New Delhi, Ernakulam, Quilon and Calicut Chennai 600 002

Ref. No.: 6th June 2015

To the Members of The Madras Chamber of Commerce and Industry

We have audited the accompanying financial statements of The Madras Chamber of Commerce and Industry(the Chamber) which comprise the Balance Sheet as at March 31, 2015, and the Income and ExpenditureAccount for the year then ended, and a summary of significant accounting policies and other explanatoryinformation.

Management’s Responsibility for the Financial Statements

The Chamber is responsible for the preparation of these financial statements that give a true and fair view ofthe financial position.This responsibility includes the design, implementation and maintenance of internalcontrol relevant to the preparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conductedour audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants ofIndia. Those Standards require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in thefinancial statements. The procedures selected depend on the auditor’s judgement, including the assessmentof the risks of material misstatement of the financial statements, whether due to fraud or error. In makingthose risk assessments, the auditor considers internal control relevant to the Chamber’s preparation and fairpresentation of the financial statements in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on the effectiveness of the Chamber’sinternal control.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness ofthe accounting estimates made by management, as well as evaluating the overall presentation of the financialstatements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for ouraudit opinion.


Emphasis of matter

Without qualifying our report, we draw attention to clauses (a) to (d) in Note 2 relating to income tax demandsamounting to Rs. 52,18,917/- relating to income tax assessments under dispute for the assessment years2009-10, 2010-11 and 2012-13 which are under appeals.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, we reportthat:

i. We have obtained all the information and explanations, which to the best of our knowledge and beliefwere necessary for the purpose of our audit.

ii. In our opinion, proper books of account as required by law have been kept by the Chamber, so far asappears from our examination of those books.

iii. The Balance Sheet and Income and Expenditure Account dealt with by this report are in agreement withthe books of account.

iv. In our opinion and to the best of our information and according to the explanations given to us, the saidaccounts give the information required by the Tamil Nadu Societies Registration Act, 1975, in the mannerso required and give a true and fair view in conformity with the accounting principles generally acceptedin India.

a) In the case of Balance Sheet, of the state of affairs of the Chamber as at March 31, 2015;

b) In the case of Income and Expenditure Account, of the excess of income over expenditure for theyear ended on that date;

For R.G.N. PRICE & COChartered Accountants

Sd/S. SubramanianPartnerM. No. 16252FR No. 002785S


THE MADRAS CHAMBER OF COMMERCE & INDUSTRY

BALANCE SHEET AS AT MARCH 31, 2015

Schedule As at As atMarch 31,2015 March 31,2014

Rs RsSOURCE OF FUNDS

General Fund 1 61772161 58386006

Total 61772161 58386006

APPLICATION OF FUNDS

Fixed Assets 2

Gross Block 32068123 32280789

Less : Depreciation 11747816 9125272

Net Block 20320307 23155517

Investments 3 40731661 33200000

Current Assets, Loans and Advances

Sundry Debtors 4 35338 878468

Cash and Bank balances 5 871404 710681

Other Current Assets 6 2687343 1987255

Loans and Advances 7 535734 535631

4129819 4112035

Less : Current Liabilities and Provisions

Liabilities 8 3409626 2081546

Net Current Assets 720193 2030489

Total 61772161 58386006

Notes on accounts 12

The schedules referred to above form an integral part of the Balance Sheet

Sd/- Sd/- Sd/-President Vice President Secretary General This is the Balance Sheet

referred to in our reportof even date

For R.G.N. PRICE & COChartered Accountants

Chennai Sd/-6 th June 2015 S. Subramanian

PartnerM.NO. 16252FR NO. 002785S



INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31,2015

Schedule Year ended Year endedMarch 31,2015 March 31,2014

Rs Rs

INCOME

Subscription 7015500 6600740

Entrance Fee 244000 49000

Seminar Income 3373588 2037213

Other Income 9 11377154 9373935

22010242 18060888

EXPENDITURE

Employee Costs 10 8651285 7134545

Other Expenses 11 7096342 6413009

Depreciation 2876460 1720645

18624087 15268199

Excess of Income over Expenditure for the year 3386155 2792689

Transfer to General Fund 3386155 2792689

Notes on accounts 12

The schedules referred to above form an integral part of theIncome and Expenditure account

Sd/- Sd/- Sd/-President Vice President Secretary General This is the Income and Expenditure

account referred to in our reportof even dateFor R.G.N. PRICE & CO.Chartered Accountants

Sd/-S. SubramanianPartnerM. No. 16252

Chennai FR No.002785S6th June 2015



SCHEDULES FORMING PART OF ACCOUNTS

SCHEDULE 1 As at As atGENERAL FUND March 31,2015 March 31,2014

Rs Rs

As per last Balance Sheet 58386006 55593317

Add: Surplus from Income & Expenditure account 3386155 2792689transferred

61772161 58386006


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As at As atMarch 31,2015 March 31,2014

Rs RsSCHEDULE 3Investments

Fixed Deposits withSundaram BNP Paribas Home Finance Ltd 5000000 5000000Tamil Nadu Power Finance & InfrastructureDevelopment Corporation Limited 1000000 1000000Term Deposit held with Banks 34731661 27200000

40731661 33200000SCHEDULE 4SUNDRY DEBTORS(Unsecured- Considered Good)

Debts Outstanding for a period exceeding six months -- 15000Other Debts 35338 863468

35338 878468SCHEDULE 5CASH AND BANK BALANCES

Cash on hand 4613 15782Balance with Scheduled Banks On Current Account 866791 694899

871404 710681SCHEDULE 6OTHER CURRENT ASSETS(Unsecured- Considered Good)

Interest accrued on Investments 592225 449087Tax deducted at source 1348106 791156Advance Tax (Refer- Note 2(b) of Notes on Account) 747012 747012

2687343 1987255SCHEDULE 7LOANS AND ADVANCES(Unsecured- Considered Good)

Deposits 387309 387309Prepaid expenses 141925 143322Advance 6500 5000

535734 535631SCHEDULE 8LIABILITIES

Sundry Creditors 1784992 627948Subscription, Advertisement &Seminar Fees received in advance 304634 133598Rent Deposit 1320000 1320000

3409626 2081546


SCHEDULE 9

OTHER INCOMEInterest on Investments 3612262 3138027Rent 2640000 1880000Fees for Certificate of Origin 3948930 3487890Advertisement Income 112500 368810Miscellaneous Income 1063462 499208

11377154 9373935SCHEDULE 10EMPLOYEE COSTS

Establishment cost 7842876 6272919Contribution to Provident & other funds 623025 706185Staff Welfare 185384 155441

8651285 7134545SCHEDULE 11

OTHER EXPENSESSubscription to Associations 297754 297754Expenses on seminars and conferences 2257867 1686639Meeting expenses 1947355 1266917Printing & Stationery 608299 598421Electricity Charges 230484 235563Telephone Charges 142875 127506Books & Periodicals 35772 21144Travel Expenses 68525 128754Rates and Taxes 295682 337363Repairs and Maintenance 666286 974129Postage and courier 107433 65127Insurance 68585 46180Payment to AuditorsAudit Fee 39326 33708Other services 22472 22472Legal & Professional Fees -- 214376Rent 192000 192000Miscellaneous Expenses 115627 164956

7096342 6413009



Year ended Year endedMarch 31,2015 March 31,2014

Rs Rs


THE MADRAS CHAMBER OF COMMERCE & INDUSTRYSCHEDULES FORMING PART OF ACCOUNTS

SCHEDULE 12NOTES ON ACCOUNTS

1. SIGNIFICANT ACCOUNTING POLICIES :Accounting Convention :The financial statements are prepared under historical cost convention.

Revenue Recognition :Accrual basis of accounting is followed except for subscription income, which is accounted on receipt basis due topractical reasons.

Fixed Assets :Fixed assets are stated at cost. Cost includes acquisition and installation expenses.

Depreciation :Depreciation is provided on straight line method on the basis of the estimated useful lives as determined by theChamber. In respect of additions and deletions, depreciation is restricted to the period of use.The rates of depreciationare as under.

Building 10%Electrical Installations 25%Furniture & Fixtures 25%Office Equipment 25%Computers 33%Vehicles 25%

Investments :Investments are stated at cost.

Retirement benefits :Liability towards gratuity and superannuation are determined in accordance with the schemes formulated by theChamber and contribution is made to the respective funds administered by the Life Insurance Corporation of India asper the rules of the aforesaid scheme. All contributions are charged to revenue when due.With regard to leave encashment, provision is made on the basis of encashment of leave upto a maximum of 180 daysat the time of retirement or reaching the age of superannuation calculated at the last drawn salary rates as perChamber policy.

2. Notesa. The Director of Income Tax (Exemptions) had vide its Order 2/161/12AA(3) dated 7 th December 2011, cancelled

registration granted under section 12A of the Income Tax Act, 1961 relating to the assessment year 2009-10 andfollowing this Order, the Asst. Director of Income Tax raised a demand of Rs 15,55,477/- for the said Asst. Year inhis Order dated 20 th December 2011. The Chamber had filed a writ petition which was admitted by the HighCourt of Madras and stay of operation of the DIT(E) order granted. The High Court of Madras vide its Orderdated 28 th June 2012 has vacated the stay and directed the Chamber to f ile an appeal before the Income TaxAppellate Tribunal. The Chamber has filed an appeal before the Income Tax Tribunal on 7 th August 2012. Stayhas been obtained against the demand till the disposal of the appeals.

b. For the Asst.Year 2010-11, the Chamber had received an Order under section 143(3) dated 15 th February 2013demanding tax amounting to Rs 19,77,600. An appeal has been filed before the Commissioner of Appeals(Income Tax) against the demand made. However in this regard the Chamber has paid Rs 7,47,012/- underprotest.

c. The Commissioner of Income Tax (Appeals) has vide his order dated 31 st December 2014, dismissed the Chamber’sappeals for assessment years 2009-10 and 2010-11. The Chamber has gone on appeal before the Income TaxAppellate Tribunal.

d. The Chamber has received a demand dated 25 th February 2015 under section 143(3) of the Income Tax Act, 1961for Rs 16,85,840/- in respect of assessment year 2012-13. An appeal has been filed with Commissioner of IncomeTax (Appeals)

e. The Chamber has been advised by its counsel that many appeals have been filed by other associations similarlyplaced and there are reasonable chances of a favourable outcome of the appeals.

f. In the light of the above no provision for taxation has been made in the accounts pending disposal of the aboveappeals.

g. Expenditure of the Skill Development Centre amounting to Rs 7,97,144/- (Previous Year - Rs 8,04,847/-) has beenallocated under the respective heads of accounts.

h. Previous year’s figures have been regrouped /reclassif ied wherever necessary to conform to the presentationof current year’s accounts.

Mcci annual report 2015

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