Tag: Mr. Anil Khaitan

PHDCCi
Business World

5G Technology-Game-Changer for India

Nov 27, 2020 by Gouri Achary 0 Comments #5G Technology, #Dr. Yogesh Srivastav, #Mr. Alok Mukherjee, #Mr. Amit Marwah, #Mr. Anil Khaitan, #Mr. Sandeep Aggarwal, #PHD Chamber of Commerce and Industry

5G is a very important technological development and a combination of Artificial Intelligence, Internet of Things, cloud services and data explosion will lead us to a completely different domain of 5G deliberated Mr. S.K Gupta (ITS), Secretary, Telecom Regulatory Authority of India (TRAI) in an interactive webinar organized by PHD Chamber of Commerce and Industry on ‘5G Technology: India’s Journey Post COVID’.

Mr. Gupta spoke about how telecom has become a vital backbone of our economy and even the development of a country’s GDP depends on it. He mentioned that fast deployment of 5G is required and enhanced mobile broadband, latency applications etc will lead to better adoption as people are more than ready for it.

Throwing light on some of the challenges & precautions that we need to take in order to adopt 5G, Mr. Gupta further added that data privacy and data security are needed to be taken care of so as to avoid misuse of data. In order to be ready for 5G, we need to work on proper optical fibre connectivity and bandwidth. 5G would be a collaborative effort of system integrators, device manufacturers, OEMs, TSPs, ISPs etc, said Mr. Gupta.

Mr. Amit Marwah, Head of Marketing & Corporate Affairs, Nokia India in his presentation spoke about how this year has given a new meaning to data growth and on the impact of COVID-19 on 2020 network traffic trends.

He also elaborated on how homes & business are connected with 5G by getting home broadband for gaming and HD videos, serving ‘ultra-broadband’ to areas where fiber-to-the-home (FTTH) is uneconomical and connecting small and medium businesses with guaranteed reliability for business-critical applications. He also mentioned as to how automation and robotics are driven use-cases are emerging from the pandemic in the field of manufacturing, healthcare, retail, autonomous vehicles and video analytics.

Mr. Marwah emphasized on the fact that for the digital transformation we need to prepare for big changes; address the digital skill gap and then ride the wave. He also said that 5G technology will lead to the acceleration of Industry 4.0.

Mr. Sandeep Aggarwal, Mentor, Telecom Committee, PHD Chamber of Commerce and Industry while giving an overview about the evolution of technology in the world, catering to the needs and growing demands of the public, mentioned that post COVID-19, we have understood that digital is the way forward and how we are improving our capability to assimilate information in a better way. We need to develop our infrastructure, increase the towers and increase the installation of fibre kilometres so that the connectivity reaches every part of the country. He encouraged foreign private investors and telecom players to invest in technology in India.

Mr. Anil Khaitan, Former President, PHD Chamber of Commerce and Industry mentioned that the pandemic has transformed consumer behaviour and habits & how people have started to rely completely on digital solutions now. Work and entertainment have become virtual and companies have to adapt to this to provide digital experience to its customer’s employees.

He added that 5G will be a key driver for the Indian industry towards a better future and to be able to compete and succeed globally. It will help drive sustainable economic growth and define India’s next decade of innovation. The pandemic has accelerated the demand for connectivity with consumers and professionals, relying on high quality and high-speed internet performance. 5G could be critical in enabling businesses to maintain operations and remain resilient & agile in the phase of any future destruction, said Mr. Anil Khaitan.

Mr. Alok Mukherjee, Co-Chairman, Telecom Committee, PHD Chamber of Commerce and Industry delivered the formal vote of thanks to the panellists for their insightful thoughts and views on 5G Technology. He said that 5G will change the way we interact with technology & would not only guarantee higher data capacity and speed but also provide the capacity to connect billions of devices. He also added that digitalization has also made digital entrepreneurship possible and accelerated the e-commerce industry.

The webinar was moderated by Dr. Yogesh Srivastav, Principal Director, PHD Chamber of Commerce and Industry and was also attended by Prof N.K Goyal, Chairman E TEMA and President CMAI along with many senior members of PHD Chamber, senior embassy officials and stalwarts from the telecom industry.

Business World

This is not the time to focus on deficit and international ratings: PHD Chamber

Oct 7, 2020 by Gouri Achary 0 Comments #Mr. Anil Khaitan, #Mr. Manjeev Singh, #Mr. Sanjay Bhatia, #PHD Chamber of Commerce and Industry, #Shri Sanjay Aggarwal

While presenting the welcome address at the Special Session on Indian Economy: Post COVID-19 in the 115th Annual Session of PHD Chamber of Commerce and Industry, Shri Sanjay Aggarwal, Senior Vice President, PHD Chamber, said that this is not the time to focus on deficit and international ratings. He suggested that the government should focus on liquidity disbursement at this juncture to support the businesses and bring back the momentum in the economy.

Shri Aggarwal said that the economy and its citizens faced hardships due to the pandemic COVID-19, however, with the lifting of the lockdown, the economy is likely to see a recovery momentum sooner than later on the back of various ground touching reforms undertaken by the government to combat the daunting impact of covid-19. He emphasized on the need of creating employment for the youth. He urged that MGNREGA should not just aim to do agriculture work but should also focus on other infrastructure divisions namely roads, railways, among others.

Mr. Manjeev Singh, Puri Former Ambassador to Nepal, acknowledged that the lockdown has caused the economy in doldrums and led the GDP to contract by nearly a quarter. Going forward, the efforts should be in the direction to revive the economy. He appreciated Rs 20 lakh crore package announced by the Government, which represents 10% of the GDP. He urged that in the current uncertain times, there is a need to provide more liquidity to the industry to revive and rejuvenate the economy, going ahead.

He focused on the need to address climate change. He believed that the country has done really well in the solar sector space and E-vehicles. Focusing on the need for Sustainable developments, he said that going forward the country will run on green energy and the importance of this sector should not be neglected.

Mr. Sanjay Bhatia Former President, PHDCCI & Managing Director, Hindustan Tin Works Limited, said that the economy has undergone a significant shock amid the pandemic. Sectors such as airline, tourism, textiles have been severely affected. He supported the focus on local goods and concluded by appreciating the announcement Rs 20 lakh crore package along with extensive reforms measures by the government.

Mr. Anil Khaitan, Former President, PHDCCI & Chairman & Managing Director, Sunil Healthcare Limited, opined that while various international rating agencies have estimated a severe contraction of the Indian economy; the country will bounce like a rocket. He stressed upon the fact that India has a phenomenal resilience and a wonderful ecosystem. Appreciating the aggressive agricultural reforms by the government, he called them a game-changer.

Mr. Anil Khaitan outlined the major issues the country is facing including the military tensions with China and Pakistan and the shock from the Pandemic. He concluded with powerful advice that the government must have ease of doing business at the district level and only then the implementation will be at the ground level. He suggested that the permanent fiscal council like GST controls, sector-wise package, especially for tourism and a state-wise entrepreneurship programme, is need of the hour. He urged the government to channelize the spending in accordance to the allocations made. With this, he was certain of positive recovery in times ahead.

Mr. Gautam Bali Managing Director, Vestige Marketing Pvt. Ltd emphasized the need of Aatmanirbhar Bharat. He emphasized the need to reinvent ourselves like Japan and China. He highlighted that India’s direct selling industry has become a saviour to many youths. Numerous unemployed have come in the direct selling programme and the business has gone digital with people adopting digital platforms to succeed.

Shri Pradeep Multani, Vice President, PHD Chamber, presented the formal vote of thanks for the session and said that India has been resilient in fighting COVID-19 and the big-ticket economic reforms including economic booster package giving equal importance to Land, Labour, Liquidity and Laws, MSMEs and taking equal care of all strata of society are highly appreciable.

Shri Multani said that the implementation of Atmanirbhar Bharat package and calibrated unlocking of the economy has ensured that economic recovery in India has gained momentum. Going ahead, he opined that more demand-side reforms should be undertaken to lift consumer sentiments and propel new industrial investments by businesses.

PHDCCI’s 115th Annual Session has been supported by Vestige Marketing Pvt Ltd; Maruti Suzuki; Radico Khaitan Ltd; SMC Global Securities Ltd; Paramount Communication Ltd; Multani Pharmaceuticals Ltd; DLF Ltd; JK Tyres; Apeejay Svran Group; M V Cotspin Ltd and DCM Shriram Industries Ltd. The other sponsors of the session were Hindalco Industries Ltd, Martin & Harris Pvt Ltd., Filatex India Ltd., Bharat Aluminium Company Ltd, Hindustan Tin Works Ltd, Alliance Advertising & Marketing Pvt. Ltd, Oswal Greentech Ltd, Modern Auto Ltd and Bry-Air (Asia) Pvt. Ltd. Please follow the YouTube link for further updates- https://www.youtube.com/watch?v=s8eyd0nh2EE.

PHD chamber of commerce
Business World

TReDS a good alternate source of funding for MSMEs: Say experts at PHDCCI Video Conference

Aug 29, 2020 by Gouri Achary 0 Comments #Dr. H P Kumar, #Mr. Anil Khaitan, #Mr. Mohit Jain, #Mr. Raphael, #Mr. Sanjeev Chawla, #MSMEs, #PHD Chamber of Commerce, #Trade Receivables Discounting System, #TReDS

“TReDS a good alternate source of funding for MSMEs,” said experts while deliberating at a Video Conference on Trade Receivables Discounting System organized by PHD Chamber of Commerce and Industry (PHDCCI) here today. It was observed that TReDS allows MSMEs to receive money upfront which helps them to resolve their working capital problems, creating room for a more productive and financially sound business environment.

Welcoming the speakers and participants, Mr. Mohit Jain, Chairman, Haryana State Chapter, PHDCCI said that MSMEs are the backbone of Indian Economy and despite the important role played by them in country’s overall economic growth, they continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. TReDS offers a promising platform for solving their working capital issues and in today’s program, experts shall highlight the benefits of this platform.

Presenting the Industry perspective Mr. Anil Khaitan, Former, President and Mentor, PHD-MSME Mentoring & Guidance Centre stated discounting receivables can be a good source of finance for the cash-starved MSMEs, particularly because it is off-balance sheet finance. He said that although the Government had mandated all big Corporates and Central Government PSUs to register on TReDS platform but very few of them have come on board on this platform.

Mr. Khaitan welcomed RBI’s step to classifying TReDS as a priority lending sector. He suggested that automation can be a solution for delayed payments on TReDS platform as the invoice seller will automatically receive the payment on time.

In his Key Note Address, Dr. H P Kumar, Former CMD, NSIC and Advisor, PHD Chamber said that although more than 1.3 crores enterprises are registered under GST the number of companies availing services of TReDS platforms is very low. The reason for this could be lack of awareness. He said that negligible number of PSUs and big corporate for registered as buyers on this platform because the registration fee is very high. The requirement of credit rating and a turnover of more than Rs. 500 corers to register on TReDS platform are also holding back many buyers.

Mr. Kumar mentioned that RBI has given licenses to only three entities to run TReDS platform which
inadequate considering the size of our country and gives access to very limited number of companies.

Mr. Kumar informed that MSMEs can take assistance from the Chamber’s PHD-Mentoring and Guidance Centre on various issues ranging from project conceptualization, training, funding resources etc.

Mr. Jacob Raphael, COO, M1xchange made a presentation on Registration and Benefits of TReDS Scheme. While explaining the process of discounting invoices, he informed that the Trade Receivables Discounting System (TReDS) is a digital platform that allows small businesses to get access to working capital by auctioning their trade receivables. On this electronic platform for auctioning of trade receivable, a financier (bank or NBFC) bids for a bill (trade receivable) from a seller (SME) before its due date or before the buyer makes the payment on the bill.

Mr. Raphael said that to ease the TReDS platform registration process, M1xchange has simplified the steps of onboarding. A user can simply fill a small form by clicking here and can register on the TReDS platform with one-time documentation.

Explaining the bidding process on M1xchange, Mr. Raphael informed that the Supplier raises the invoice and the Buyer verifies the same. This enables the financiers which are also the invoice factoring company to bid against the verified invoice. Once the supplier accepts the bid, the payment is processed and credited to the supplier’s account.

The financier offers credit to the seller at a discounted rate of interest which is generally 5% less than banks and other sources. In this process, the seller may get a steep discount on the rate of interest for working capital, without the need of any collateral security. He said M1xchange is gaining popularity and now many Indian and Foreign Banks are its active partners.

Sharing the Government of India Initiatives on TReDS, Mr. Sanjeev Chawla, Director, MSME-DI stated that TReDS is a good mechanism for MSMEs to fulfil their liquidity requirements. He informed that GOI is trying to disseminate information regarding this useful platform. He mentioned that the Government has launched a CHAMPION Portal to empower MSMEs and address their grievances. Besides this the MSME Samadhan Portal is also available for realizing the delayed payments of SMEs from both public and private buyers.

Mr. Chawla invited suggestions from the MSMEs for further improving the TReDS platform. Thanking the speakers and participants, Adv Lokesh Jain, Chairman, MSME Committee, Haryana State Chapter, PHDCCI assured Mr. Sanjeev Chawla that PHDCCI will collate and forward all the suggestions and grievances received from the participants to the Government for necessary action.