Tag: Mr. Sanjay Aggarwal

News

The address by Hon’ble Prime Minister would build confidence among the people to fight against pandemic: PHD Chamber

Apr 21, 2021 by Rekha Nair 0 Comments #Mr. Sanjay Aggarwal, #PHD Chamber of Commerce and Industry, #President

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry said that the address by Hon’ble Prime Minister would build confidence among the people to fight against pandemic covid-19

The measures suggested by Hon’ble Prime Minister are inspiring and mitigate the impact of covid on migrant workers, trade, industry and economy, said Mr. Sanjay Aggarwal

We appreciate that Government is taking all necessary steps to ensure adequate availability of hospital beds, medicines, oxygen etc. across the country and the nation would emerge out of the pandemic very soon, said Mr. Aggarwal

We assure our fullest support to the Government of India to mitigate the daunting impact of the pandemic covid-19 on workers, people, industry and economy, said Mr. Sanjay Aggarwal

India has a very high component of young population which shall help mitigate the risk of the virus. Vaccination of above 18 years from May 1, 2021 would mitigate the pandemic impact sooner than later, said Mr. Aggarwal

Mr. Aggarwal, however, stressed on the importance of social distancing, wearing masks and Covid-appropriate Behavior protocols.

Mr. Aggarwal believes that the nation needs to focus on setting up mini containment zones in areas suffering high infection rates with effective medical focus rather than implementing a national wide lockdown.

Business World

The nation would emerge out of the pandemic very soon: PHD Chamber

Apr 20, 2021 by Rekha Nair 0 Comments #Mr. Sanjay Aggarwal, #PHD Chamber of Commerce and Industry, #President

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry while expressing his full confidence in the resilience of the Indian economy said in a press statement issued here today that though many parts of the country have seen an emergence of the second wave of the COVID virus, the measures taken by both the central and the respective state governments would prove to be very effective and the nation would emerge out of the pandemic very soon.

Mr. Aggarwal mentioned about his telephonic conversation with Smt Nirmala Sitharaman, the Hon’ble Finance Minister of India on 18th April, 2021 in which the Hon’ble Finance Minister said that the Government is taking all necessary steps to ensure adequate availability of hospital beds, medicines, oxygen etc across the nation.

Mr. Sanjay Aggarwal said that the Finance Minister also mentioned that urgent efforts are being made to increase Covid-19 vaccine production in the country and to arrange for imports also to vaccinate nation’s population in the shortest time possible.

Mr. Aggarwal was also appreciative of the statement by the Finance Minister that the Government is not going to impose any National Lockdown which may harm the economy and that the states may impose lockdowns locally as needed.

We assure our fullest support to the Government of India to mitigate the daunting impact of the pandemic covid-19 on people, industry and economy, said Mr. Aggarwal

Mr. Aggarwal mentioned that the central government’s mass vaccination drive like the Tika Utsav along with the measures taken by states like Maharashtra and Delhi would help in curbing the spread of the virus.

PHD Chamber organized Tika Utsav at various state-chapters of the PHD Chamber including Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, J&K and North Eastern region to help build confidence among the people to come forward for vaccination without any hesitation, said Mr. Sanjay Aggarwal.

He added that India has a very high component of young population which shall help mitigate the risk of the virus.

Mr. Aggarwal however again stressed on the importance of social distancing, wearing masks and Covid-appropriate Behavior protocols.

Mr. Aggarwal believes that the nation needs to focus on setting up mini containment zones in areas suffering high infection rates with effective medical focus rather than implementing a national wide lockdown.

According to Mr. Aggarwal, sectors like manufacturing, services, and construction would have been negatively impacted if the government had decided to implement a complete national lockdown.

Mr. Aggarwal stated that there is a need for a normalization of all kinds of economic activity as the rollout of the COVID 19 vaccines gathers pace.

Business World, News

Non-obstante clause needed in Companies Act, 2013: PHD Chamber

Mar 20, 2021 by Rekha Nair 0 Comments #Mr. Sanjay Aggarwal, #PHD Chambers of Commerce and Industry, #President

There is an urgent need to include a non-obstante clause in the Companies Act 2013 to exclude the independent directors from criminal liability for offenses committed by the company, said the industry body PHD Chambers of Commerce and Industry.

Mr. Sanjay Aggarwal, President, PHD Chambers of Commerce and Industry stated that independent directors are not involved in the day to day management of the company, so it is totally unfair to include them in criminal proceedings done by the institution they represent.

Independent directors play an important role in incorporating the principles of corporate governance in any company. They are instrumental in getting accountability and transparency in the system. Many a time they act as a bridge between the company management and the various small shareholders by bringing independent judgment in various workings of the company, said Mr Sanjay Aggarwal.

According to Mr Aggarwal, a trusted independent director brings a clear perspective and helps the management in making informed decisions making. By reducing and safeguarding the liabilities, the government would encourage more and more talented people to join company boards as independent directors.

The PHD Chamber of Commerce and Industry is of the view point that the liability of the independent directors should be limited to the extent of the involvement by them in defaults or evasions done by the management with the consent or the knowledge of the independent director.

The PHD Chamber believes that instead of imprisonment or attaching of personal properties of the independent directors, the liability should be restricted to penalties and fines, said Mr Aggarwal.

Mr Aggarwal added that unless there is sufficient evidence to prove the independent directors’ direct involvement or establish his nexus with any criminal intent, his criminal liabilities needs to be exempted.

By decriminalizing the role of the independent director, the government should help in preserving the institution of independent directors, said Mr. Sanjay Aggarwal.

Business World, News

PHDCCI to organize PHD Global Aviation & Air Cargo Summit- 7th Edition

Mar 12, 2021 by Rekha Nair 0 Comments #Mr. Sanjay Aggarwal, #PHD Chamber of Commerce and Industry, #President

PHD Chamber of Commerce and Industry (PHDCCI) is organizing its flagship event – 7th Edition of -PHD GLOBAL AVIATION & AIR CARGO SUMMIT- “Aviation -Air Cargo Industry’s New Growth Blueprint & Business Resurgence Parameters” on March 12-13, 2021 through Virtual mode of Cisco WebEx.

Building on the previous six editions, this summit shall discuss upon Aviation -Air Cargo Industry’s New Growth Blueprint & Business Resurgence Parameters and shall have participation from the Captains of the Industry- Aviation & Air Cargo, States, Ambassadors & Diplomats, Airports & Airlines -National & International, Freight Forwarders, Air Cargo Logistics Industry, MRO’s, OEM’s, Aircraft Leasing Co’s, Business Aviation Co’s, Aircraft Manufacturers, Drones & other related aviation & cargo industry allied stakeholders.

Mr. Pradeep Singh Kharola, IAS, Hon’ble Secretary at Ministry of Civil Aviation will be the Chief Guest on the occasion. H.E. Dr. Ahmed A.R. Albanna, Hon’ble Ambassador of United Arab Emirates to India will be the Guest of Honour at the event. Special Address at the event will be presented by H.E. Mr. Asein Isaev, Hon’ble Ambassador of the Kyrgyz Republic to India.

The Key Note Speakers and Session Chairs from the Ministry of Civil Aviation, Government of India, Business leaders, and Corporate Leadership from the Aviation and Logistics Industry across the Globe have confirmed their presence for the program.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, said, “We need summits like these to brainstorm what steps can be taken to promote the Blueprint and Business Resurgence Parameters in Aviation-Air Cargo Industry. I trust that the 7th Edition of Global Aviation & Air Cargo Summit will build on the already strong foundation laid by the Chamber and draw a sharper focus on the important role towards allied industries growth blueprint and new Business profit models with sustainability initiatives for the future”.

The summit will witness the Panel Discussions on “Returning to the Skies-4R’s of Recovery”; “New Business Profit Models and Sustainability Initiatives for Future” and “Allied Industries Growth Blueprint: Drones and Skilling Sectors” which will be organized on 12th March 2021. A Webinar on “Air Cargo-Sustainability Initiatives for Future” will also be organized on 13th March 2021 on the virtual platform.

The program is being supported by GMR, AAI Cargo Logistics and Allied Services Company Limited, Boeing, CELEBI, Continental Carriers Group, Kale Logistics, and Logistics Skill Council.

Business World, News

PHDCCI to organize 10th International Heritage Tourism Conclave in Panchkula

Mar 10, 2021 by Rekha Nair 0 Comments #Chairman – Tourism Committee, #Mr. Anil Parashar, #Mr. Sanjay Aggarwal, #PHDCCI, #President

PHD Chamber of Commerce and Industry (PHDCCI) will be organizing its flagship event – 10th International Heritage Tourism Conclave with the theme ‘Harnessing Power of Heritage Tourism with Focus on Sustainability’ on Friday, 12 March 2021 from 3:00 PM onwards at WelcomHeritage Ramgarh, Panchkula.

Cultural heritage – both tangible and intangible are resources that need to be protected and carefully managed. Therefore, it is fundamental that tourism authorities study how best to develop these cultural heritage sites while protecting and preserving them for the long-term.

Building on the previous nine editions, this Conclave will deliberate on how the tourism and culture sectors can work together more collaboratively and increase public-private partnerships to ensure the protection of our Cultural and Natural Heritage while extending benefits to local communities.

Shri Prahlad Singh Patel, Hon’ble Minister of State (I/C) for Tourism, Government of India has been invited as the Chief Guest on the occasion. Ms. Rupinder Brar (IRS), Additional Director General – Ministry of Tourism, Government of India will be the Guest of Honour at the event.

Ambassadors from countries like Czech Republic, Indonesia, Slovak Republic, Slovenia, Vietnam and High Commissioner of Seychelles have confirmed their presence for the programme.

Mr. Sanjay Aggarwal, President, PHDCCI, said, “We need forum like this to brainstorm what steps can be taken to correct the skewed balance of tourist traffic, where bulk of the foreign tourist arrival is limited to a few prominent destinations. I trust that the 10th IHTC will build on the already strong foundation laid by the Chamber and draw a sharper focus on the important role that all aspects of heritage play in attracting tourists and thus bringing in investments, development and jobs.”

Mr. Anil Parashar, Chairman – Tourism Committee, PHDCCI, said, “PHDCCI’s commitment towards Tourism, especially Heritage Tourism is evident from the success of its past nine Heritage Tourism Conclaves. I trust that the 10th IHTC will build on the already strong foundation laid by the Chamber and draw a sharper focus on the important role that all aspects of heritage – be it culture, architecture or cuisine play in attracting tourists and thus bringing in investments, development and jobs to the areas.”

A Panel Discussion on ‘Generating momentum for making India the global epicenter for Heritage Tourism’ will be organized during the Conclave. A Heritage Walk will also be organized on 13th March 2021 at Pinjore Gardens for all the delegates.

The programme is being supported by the Ministry of Tourism, Government of India; Madhya Pradesh Tourism Board; Rajasthan Tourism; Haryana Tourism Corporation Ltd; InterGlobe Technology Quotient; and Indian Railway Catering and Tourism Corporation Ltd.

Business World

GOI projects (-)7.7% in FY 2020-21 in line with our 21st October projection based on PHDCCI EBM Index : PHD Chamber

Jan 7, 2021 by Neel Achary 0 Comments #Mr. Sanjay Aggarwal, #PHD Chamber of Commerce and Industry, #President

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry has appreciated the Government for pulling the economy from the low growth of (-)23.9% in Q1 FY 2020-21 to the overall growth of (-)7.7% in FY 2020-21 in the extremely difficult time of Pandemic COVID-19.

National Statistical Office, GOI has released today the latest estimates of India’s GDP growth at (-)7.7% for FY 2020-21 in its First Advance Estimates of National Income, of which the growth of Agriculture, forestry & fishing is estimated at 3.4%, Mining & quarrying at (-)12.4%, Manufacturing at (-)9.4%, Electricity, gas, water supply & other utility services at 2.7%, Construction at (-)12.6%, Trade, hotels, transport, communication & services related to broadcasting at (-)21.4%, Financial, real estate & professional services at (-)0.8% and Public administration, defence & other services at (-)3.7%.

Today’s GOI estimate at (-) 7.7% is very much in line with our expectations as our PHDCCI Economic and Business Momentum (EBM) Index released on October 21, 2020, we had estimated that the GDP growth will be at around (-) 7.9% for the current financial year 2020-21, said Mr. Sanjay Aggarwal.

Going forward, we expect a significant growth trajectory of more than 7.7% in next financial year 2021-22, said Mr. Sanjay Aggarwal.

At this juncture, to continue the recovery momentum of economic and business activity, immediate policy attention is required towards credit access to industry and services sectors. Credit disbursement should be the top most priority at this juncture by the banking sector. The focus should be on ensuring provision of hassle free disbursements of loans vis-à-vis enhanced liquidity for MSMEs, especially in rural sectors, said Mr. Sanjay Aggarwal.

Going ahead, demand creation will have a multiplier effect on enhanced production possibilities, expansion of employment in factories, expansion of capital investments and overall virtuous circle of growth and development of Indian economy. The increased spending on infrastructure will give a multiplier effect to rejuvenate the aggregate demand in the economy and to mitigate the daunting impact of COVID-19 on the economy.

Also, there is a need to lower interest rates for consumers and businesses, lesser compliances for MSMEs vis-à-vis ease of doing business at the ground level and a lower tax regime to increase the personal disposable income of the people, said Mr. Sanjay Aggarwal.

Business World

Input Tax Credit, being Soul of GST compromised

Dec 31, 2020 by Neel Achary 0 Comments #Mr. Sanjay Aggarwal, #PHD Chamber, #President

Speaking at a Panel Discussion on Important Changes in GST effective from 1st January 2021, organized by PHD Chamber today, Mr. Bimal Jain, Chairman, Indirect Taxes Committee felt that the Input Tax Credit, being the soul of GST, has been compromised in implementing the GST Law. He echoed the sentiments of the industry by mentioning that availing ITC is a mammoth task and extremely cumbersome. He observed that the issue of fake invoices and fake credits has increased since GSTR 2A came into effect in 2019. The GST Return system, he felt has been introduced half-heartedly causing difficulties for the genuine taxpayers who want to voluntarily follow the law and pay taxes.

He further added that there are restrictions on claiming ITC pertaining to Invoice/ Debit Notes not uploaded by suppliers or furnished in their GSTR 1 or through IFF, which was initially 20%, subsequently reduced to 10% w.e.f. 1st January 2020 and will now be further reduced to 5% w.e.f. 1st January 2021 in terms of R. 36(4) of the CGST Rules. This is towards the business to KNOW YOUR SUPPLIER. Rule 86A which came to effect w.e.f. 26 December 2019, envisages blocking of credit and circumventing the right to appeal which is not within the four corners of natural justice, he added. Mr. Jain added that the introduction of Rule 86B, w.e.f January 1, 2021, restricting usage of credit in excess of 99% of output tax i.e. 1% need to be paid compulsorily through e-cash ledger are not introduced at the appropriate time and creating an atmosphere of uneasiness for trade & industry and should be withdrawn or postponed by the Government.

Earlier Mr. Sanjay Aggarwal, President, PHD Chamber mentioned that since the implementation of GST there have been many instances of fraud due to fake invoicing. There is a need to improve the system as well as the administration to check the frauds. He felt that the seamless flow of Input Tax Credit forms the backbone of GST, and any form of restriction on the ITC will be a dampener to the spirit of GST. He observed that any form of amendments should promote voluntary tax compliance, reduce tax litigation, and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.

Eminent panelists who also addressed the various important Changes in GST effective from 1st January 2021included Mr. Puneet Bansal, Managing Partner, Nitya Tax Associates; Mr. Tushar Aggarwal, Partner, Tattvam Advisors, and Mr. N K Gupta, Senior Executive Director, S S Kothari Mehta & Co. They deliberated on various GST Provisions of the Finance Act, 2020; New grounds for cancellation of registration under GST; Biometric-based Aadhaar authentication/verification process for GST registration; Validity of e-way bill; Waiver of late fee for delay in furnishing Form GSTR-4; among other issues.

News

Govt working towards Atma Nirbharta in Mining & Steel & to make India Global Manufacturing Hub: Steel Minister

Nov 19, 2020 by Gouri Achary 0 Comments #and petroleum sector, #coal, #Dr. Yogesh Srivastav, #Mr. Anil Chaudhary, #Mr. Dharmendra Pradhan, #Mr. Faggan Singh Kulaste, #Mr. Jayanta Roy, #Mr. Naveen Jindal, #Mr. Sanjay Aggarwal, #Petroleum & Natural Gas, #Steel, #The mining

The mining, coal, and petroleum sector has been one of the prime focus sectors in terms of development and reforms in the past few years. Our Steel Consumption per capita globally has grown over the years and our market has more capability deliberated Mr. Dharmendra Pradhan, Hon’ble Union Minister of Steel, Petroleum & Natural Gas In National Mining Summit, Theme: Reforms for Atma Nirbharta in Mining Sector organized by PHD Chamber of Commerce and Industry.

Mr. Dharmendra Pradhan while talking about the reforms mentioned the bidding system has helped in the equal distribution of the revenue. He mentioned that we need to exploit, access, and monetize the natural resources at the same time leveraging technology, transparent bidding process making India cost-competitive so that the raw material is available with ease.

He emphasized that while India is becoming self-reliant, we need to make India a global manufacturing hub for which we need to monetize the mineral resources of the country and make the process more simplified. We need to make this sector more profitable so that business investments can be increased in this sector.

Mr. Faggan Singh Kulaste, Hon’ble Minister of State for Steel mentioned that India is the land of resources. While some of the resources are available abundantly, many need the intervention of international markets. Under the visionary initiatives of Shri Narendra Modi Ji, we are progressing towards making India Atmanirbhar and, for the same, there are a lot of reforms and developments taking place in the mining sector.

He discussed that the government wants to get the intervention of the private sector in the auctions and India needs to work in the coal sector. Government is in constant talks in introducing systematic reforms, leverage ease of doing business at the same time help in boosting the sector and economy, making India self-reliant in the times to come.

Mr. Jayanta Roy, Senior Vice President, ICRA while presenting the knowledge report talked about the current status of the mining sector, key challenges, recent government interventions, key opportunities, rebooting for reforms 2.0, and changes proposed in the MMDR Act 1957. He also talked about the importance of the mining sector in the economy, employment generation, and its linkage in other sectors as well.

Talking about some of the challenges, he deliberated about the slow regulatory approvals, risk in capital blockage, environmental clearance, limited investment in mineral exploration, sub-optimal investment in technology, and others. He gave a detailed outlook about the key policy changes implemented recently in the mining sector paving way for the betterment of the industry with reforms such as iron ore and commercial coal mine auctions are helping India to step up in the global market.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address complimented the Government of India for announcing bold structural reforms in the Mining sector that will go a long way in making India Atma Nirbhar in mining, coal, and steels sectors.

He mentioned that the reforms are likely to boost the production of various minerals by introducing competition, transparency, private sector participation, and an increase in foreign investment. The government has announced a composite exploration-cum-mining-cum-production regime under which 500 mining blocks will be offered through the open and transparent auction route through amendments to the Mines and Minerals (Development and Regulation) Act. He also discussed some silent features of the reforms announced that will help in boosting the mining sector in times to come.

Mr. Aggarwal emphasized that the Summit aims to bring policymakers and bureaucrats from Central and State Governments and entrepreneurs on a single platform to deliberate on the benefits of the reforms announced by the Government recently and give recommendations for circumventing challenges posed by the recent disruption in the sector.

Mr. Anil Chaudhary, Chairman, Minerals & Metals Committee, PHD Chamber of Commerce and Industry while giving an industry outlook, its challenges, and ways forward, deliberated about the role of mining in the development of the nation. He mentioned that India is blessed with good resources of Iron in the Country and, it is one of the largest miners of iron. We need to accelerate the requirements for the betterment of the economy for which we need reforms. He mentioned that Atma Nirbhar Bharat is a concept that everyone has to carry forward and, the mining sector can be one of the major contributors in making India self-reliant.

Mr. Naveen Jindal, Co-Chairman, Minerals & Metals Committee, PHD Chamber of Commerce and Industry delivered a formal vote of thanks to all the delegates and participants and talked about the need for stringent policies in the coal sector so that it benefits all and particularly the Industry itself.

The session was moderated by Dr. Yogesh Srivastav, Principal Director, PHD Chamber of Commerce and Industry, and was attended by many industry stalwarts around the world.

Business World

Great Business opportunity for Indian Industry to participate in making Gas Based Economy

Nov 5, 2020 by Gouri Achary 0 Comments #Gas Based Economy, #Mr. A K Jana, #Mr. Nakul Raheja, #Mr. Pawan Kumar Tibrawala, #Mr. Rajeev Kumar Mathur, #Mr. Sanjay Aggarwal, #Mr. Tarun Kapoor, #PHD Chamber of Commerce and Industry, #Virtual Natural Gas Conclave 2020’

The Indian companies need to understand the opportunity and demand in the gas-based manufacturing sector and utilize it to get benefit from the same, deliberated Mr. Tarun Kapoor, Secretary, Ministry of Petroleum & Natural Gas (MOPnG) in the session of ‘Virtual Natural Gas Conclave 2020’ organized by PHD Chamber of Commerce and Industry.

Talking about policy and reforms, Mr. Kapoor mentioned that we are in the process of allowing production to sell gas in form of auctions. He also mentioned that the ministry is working on Transport System Operation so that the transport system becomes more independent and systematic for energy consumption. Gas Exchange will be a reality stone and, stone changes are taking place.

Mr. V.K Mishra, Director of Finance, Petronet LNG discussed that our energy has to be growth-centric at the same time environmentally conscious. Looking at the growth and development in this sector, we are sure that will be an increase in energy capacity and consumption in the next few years. He emphasized that we need to increase our energy consumption in the country for which we need to take initiatives so that we can penetrate gas in all corners of the country and look at small sale energy.

Talking about the environment and cost benefits of LNG, he mentioned that natural gas should come under GST that will benefit the MSMEs and consumers at large.

Mr. Rajeev Kumar Mathur, Executive Director Corp affairs/AM GAIL discussed the need to increase per capita energy consumption that will help India to achieve become a gas-based economy. He mentioned that there are opportunities for equipment manufacturers, suppliers, and ventures. He suggested that there should be an increase in the LNG stations across the country so that the transport sector can increase its consumption.

Talking about the gas exchange, he discussed that this will help to offer more business and consumption opportunities to industry leaders and the population.

Mr. A K Jana, Managing Director, Indraprastha Gas Limited mentioned that targeting the transport system will help to increase the consumption of energy, and strengthing infrastructure will help to increase energy production. He also emphasized replacing LNG with many energy resources that will help to increase the energy mix.

Mr. Nakul Raheja, Country Head, Shell Energy India deliberated that we need to secure more energy at the same time look at the consumption of cleaner energy to tackle climate change. He mentioned that gas can make a difference in climate issues and needs to focus to strengthen its growth in the sectors like power, industries, and transportation. He also mentioned that gas plants are quicker and cheaper to build and globally, gas plays a pivotal part in the power mix. He talked about the flexibility of gas in the power sectors and the need to look for more gas applications.

Talking about the gas policy, he mentioned that it needs to be skill enabled, supply enabled, cost-effective, and have marketing and pricing freedom.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address deliberated about India’s mission to emerge as one of the primary drivers of growth in natural gas demand in Asia, despite the pressing Covid-19 challenges, owing to a combination of Government’s pursuance of consistent policies and initiatives, as well as fast-developing pipeline infrastructure.

He lauded the initiatives undertaken by the Ministry of Petroleum & Natural Gas, Govt of India to ensure energy distribution for all Indians at the same time make it affordable, sustainable, efficient, secure and help progressively moving towards marketing and pricing freedom regime in the country.

He mentioned that Pradhan Mantri Ujjwala Yojana (PMUY) has driven socio-economic change and women empowerment in India, and has doubled the number of LPG connections in the country. SATAT (Sustainable Alternative Towards Affordable Transportation) initiative is aimed at providing a Sustainable Alternative Towards Affordable Transportation as a developmental effort that would benefit both vehicle-users as well as farmers and entrepreneurs.

Talking about the expansion in the Indian Gas grid, he discussed its expansion in the eastern and north-eastern parts of the country via the Government’s supports of capital grants under the Indradhanush North Eastern Gas Grid projects.

Mr. Aggarwal mentioned that increasing domestic gas production has been a key government priority, as output has unexpectedly come in below forecast levels over the past few years. Coverage of City Gas projects is being expanded to many geographical Areas with the potential to cover a major portion of the population. The government has also chalked out plans for use of LNG in long-haul transportation.

While discussing the tariff structure, he talked about the benefits of the new tariff structure that will help in creating a single gas market by attracting investment to complete Gas Grid as well as ensuring equitable access to natural gas and making gas affordable across the country.

Mr. Aggarwal highlighted that Power, Fertilizer, Industrial, and City Gas Distribution segments are expected to contribute to the bulk of future growth of natural gas demand in India.

Mr. Pawan Kumar Tibrawala, Co-Chairman, Hydrocarbon Committee, PHD Chamber of Commerce and Industry delivered a formal vote of thanks to all the delegates and participants.

The session was moderated by Dr. Ranjeet Mehta, Principal Director, PHD Chamber of Commerce and Industry, and was attended by many industry stalwarts pan-India.

News

Leveraging Business Barter Deals, a welcome step between India- Iran

Oct 29, 2020 by Gouri Achary 0 Comments #Mr. Ebrahim Jamili, #Mr. Masoud Khansari, #Mr. Saket Dalmia, #Mr. Sanjay Aggarwal, #PHD Chamber of Commerce and Industry

We believe in mutual legal assistance agreement in the civil and commercial matters which will help in enhancing trade and business relations between the two countries, deliberated H.E. Dr. Ali Chegeni, Ambassador, Embassy of the Islamic Republic of Iran, New Delhi, India at the Inaugural Session of PHD Chamber of Commerce and Industry’s Interactive Webinar on India – Iran Business Promotion, Challenges and Opportunities on 27th October 2020.

H.E. Dr. Ali Chegeni while deliberating about the historical, cultural, and geographical ties between the two nations, mentioned that the PTA agreement needs to be processed for facilitating trade at the same time reducing tariffs. He highlighted that increasing trade relations by leveraging business barter deals will be a welcome step between the two countries.

He also mentioned that this is the best time to invest in business and trade ventures in Iran, especially in sectors like oil, energy, and agriculture products.

H.E. Mr. Gaddam Dharmendra, Ambassador, Embassy of India, Tehran, Iran deliberated that air and marine connectivity is one of the factors in enhancing relations between the two countries. He mentioned that Chabahar port is the new Taj Mahal of Iran and will help in the facilitation of Indian trade relations especially in Central Asian countries to help maintain the supply chain, increase trade and traffic.

H.E. Mr. Gaddam Dharmendra highlighted that the need of the hour is to expand and diversify trade in the sectors like oil, paper, printing, packaging, and agri-products. Indian and Iranian companies are working on sectors like rice, saffron, tea, dry fruits, fruits and it’s the right time to enter into joint ventures for increasing investments. We need to take advantage of air traffic, virtual meetings to maintain business relations.

Mr. Sabeer Nazeem, Chief Representative – Iran Representative Office, UCO Bank in Iran talked about the impact of the pandemic on both the countries that are forming challenges and opportunities. He also talked about the business opportunities available in Iran for Indian companies.

Mr. Masoud Khansari, President, Tehran Chamber of Commerce and Industry, Mines and Agriculture (TCCIMA) mentioned that India is considered as one of the fastest-growing economies in the world and has been one of the largest export sources for Iran. He said that in current circumstances, while the impact of coronavirus in the global economy has been devastating so far, India and Iran can work together to take appropriate measures and tackle reverse challenges raised by Covid19. He also mentioned that to increase the bilateral trade relations, there is a need to strengthen financial and banking services in both nations.

Mr. Ebrahim Jamili, Chairman, Iran-India Joint Chamber of Commerce (IICC) talked about the disruption caused due to the pandemic and finding solutions about expanding trade. He suggested leveraging trade relations through battering. He also suggested finding ways to enhance inter-cultural relations between Indian and Iranian students. He emphasized that India is a long-lasting friend of Iran and, we need to reduce our differences at the same time maximize ties. He also emphasized to establish joint companies between the two countries for the mutual interest that will expand trade and business ties.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address deliberated about PHDCCI’s constant engagement and deliberations with Iran in the form of events, conferences, and exhibitions with the agenda to establish business connects between Indian and Iranian companies.

Mr. Aggarwal further talked about the friendly relations shared between the two countries since history, growing into a multifaceted manner. He also mentioned that Iran is the second-largest supplier of crude oil to India and both countries actively participate in education-cultural exchanges with each other.

Mr. Saket Dalmia, Vice President, PHD Chamber of Commerce and Industry while delivering a formal vote of thanks, talked about the business connection between the two countries for many years which has been facilitated by trade and now it’s the time to increase it for strengthing relations in the future.

The Inaugural session was moderated by Mr. Naveen Seth, Principal Director, PHD Chamber of Commerce and Industry; it witnessed the participation of over 233 industry members including over 150 Iranian companies, The Virtual B2B Meetings will be held on 27 and 28 October 2020 between Indian and Iranian companies.