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Andhra Pradesh has exhibited highest increment in size of its Budget 2022-23: PHD Chamber Analysis

May 2, 2022 by Rekha Nair 0 Comments #PHD Chamber of Commerce and Industry

Andhra Pradesh has significantly increased the size of its Budget from Rs 2,08,107 crore for 2021-22 (RE) to Rs 2,56,257 crores for FY 2022-23 (BE), with an increment of 23%, which is highest among the States of India, said an analysis conducted by PHD Research Bureau of PHD Chamber of Commerce and Industry.

The top 5 States with highest increase in size of their respective Budgets in 2022-23 are Andhra Pradesh (23%), Telangana (22%), Odisha (21%), Haryana (16%) and Madhya Pradesh (14%), said Mr Pradeep Multani, President, PHD Chamber of Commerce and Industry.

On the other hand, Uttar Pradesh is on the top in terms of overall size of its Budget (vote on account) at Rs 5,45,371 crore in FY 2022-23 (BE), followed by Maharashtra with Budget size of Rs 4,95,405 crore, Rajasthan with Budget size of Rs 3,46,183 crore, West Bengal with Budget size of Rs 2,91,030 crore and Karnataka with Budget size of Rs 2,65,719 crore, said Mr Pradeep Multani.

As after the 2 consecutive years of difficult times caused by pandemic COVID-19, the economy is regaining momentum in the recent months, the States have announced their respective Budgets for FY 2023 with the aim to speed recovery and move forward to a higher growth trajectory, said Mr Pradeep Multani.

The States Budgets have proactively and commonly focused on overall State’s development, bolstering social welfare, spurring manufacturing sector, strengthening agriculture sector, vitalizing services sector and rejuvenating infrastructure activity along with provisioning for accelerating healthcare development, employment generation, protecting the vulnerable, empowering women and promoting education, said Mr Pradeep Multani.

It is interesting to note that Delhi Budget 2022-23 is being termed as employment Budget with major focus on job creation for women. The key highlight of the Budget has been to create 20 lakh jobs by 2027 in priority sectors including retail, travel & tourism, entertainment, green energy, logistics & supply chain and food & beverage, said Mr Pradeep Multani.

It is inspiring that Haryana has announced the Budget with aim to bring the State at the forefront of the journey of India and contribute in the achievement of the vision for a US$ 5 trillion economy, with an increased contribution of the State to the national economy from 3.4% presently to 4%, said Mr Pradeep Multani.

Andhra Pradesh Budget has majorly emphasized on four important pillars of development policymaking, including human capacity development, infrastructure provision, livelihoods support and social security to build the State’s development and growth foundations, said Mr Pradeep Multani.

Rajasthan has presented the agriculture Budget for FY 2022-23, with the aim of strengthening financial situation of farmers and take State among top States in the agriculture sector in the next five years, said Mr Pradeep Multani.

The Budget announcements of Himachal Pradesh incorporated something for all the sections of the State. The proposals ranged from raising the minimum daily wage to creation of medical device park to Child Nutrition Scheme, upgradation of road infrastructure, among others, said Mr Pradeep Multani.

It is appreciable that Punjab Budget has made major allocations to the education sector (Rs 4,643 crore), agriculture sector (Rs 2,357 crore), administration of justice and policing (Rs 2,727 crore), social security, women and child development (Rs 1,484 crore) and health and family welfare (Rs 1,340 crore), said Mr Pradeep Multani.

The States are of immense significance from growth perspective, because the spending undertaken by the States tends to reap multiplier effect for the holistic development of Indian economy, said Mr Pradeep Multani.

We are hopeful that the announcements made in the respective State Budgets of 2022-23 will bring about a paradigm shift in the economic environment of India, culminating into the all-inclusive development of the country to propel India’s economy to greater heights, with a size of US$ 5 trillion economy in the coming years, said Mr Pradeep Multani.

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Spike in WPI inflation due to skyrocketing commodity prices: PHD Chamber

May 18, 2021 by Rekha Nair 0 Comments #PHD Chamber of Commerce and Industry, #President, #Sanjay Aggarwal

The spike in WPI inflation at 10.49% in April 2021 from 7.39% in March 2021 is majorly due to skyrocketing commodity prices, which have escalated the overall WPI inflation in the double digits and have severely impacted the price cost margins of the businesses in the difficult pandemic time of coronavirus, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, in a press statement issued here today.

WPI inflation of the manufactured products has increased to 9.01% in April 2021 from 7.34% in March 2021. The increase in costs of raw materials is affecting the MSMEs which are already struggling because of pandemic impact and squeezed working capital, said Sanjay Aggarwal.

WPI inflation of the food articles has increased to 4.92% in April 2021 from 3.24% in the month of March 2021. We expect that the prices of food articles will soften and food inflation will be in the benign conditions in the coming weeks with improved supply chains, said Sanjay Aggarwal.

WPI inflation of fuel and power has increased to 20.94% in April 2021 from 10.25% in March 2021 which is significantly increasing the input costs of the industry and its competitiveness in the domestic and international markets, said Sanjay Aggarwal.

At this juncture, we urge the government to consider petroleum products in the ambit of GST to rationalize the prices and to contain the rising inflation, said Sanjay Aggarwal

High commodity prices are posing a serious challenge to the businesses to operate in the difficult pandemic times, which needs to be addressed immediately through the adequate reforms in the supply chains of high commodity prices, said Sanjay Aggarwal.

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PHD Chamber of Commerce and Industry completes its 150th International Memorandum of Understanding with the signing of MoU with MIBC

May 14, 2021 by Rekha Nair 0 Comments #Mongolia India Business Council, #PHD Chamber of Commerce and Industry

PHD Chamber of Commerce and Industry and Mongolia India Business Council (MIBC) signed a Memorandum of Understanding (MoU) on Thursday, May 13, 2021 to jointly regulate their future relationship and mutually exploring new area of partnership by conducting business forum among the business of both countries. Mr Sanjay Aggarwal, President, PHD Chamber and Mr Gantulga Bold, President, MIBC signed the MoU in presence of H.E. Mr M P Singh, Ambassador of India to Mongolia through Video Conferencing.

This was PHDCCI’s 150th MoU with Chambers’ of Commerce and Trade Bodies around the world.

Mr Sanjay Aggarwal, President, PHD Chamber in his presidential remarks acknowledged that the signing of the MoU between both the entities will act as a stepping stone in promotion of bilateral economic ties between both the nations. He assured that once the flights open PHDCCI would mount a delegation and visit Mongolia to explore business collaborations.

Mr Gantulga Bold, President, MIBC positively evaluated the coordination between the two countries and agreed to continue this tradition as supporting each other in relevant international forums.

H.E. Mr M P Singh, Ambassador of India to Mongolia encouraged and urged business communities in India and Mongolia to leverage capacities & capabilities of MIBC in furthering bilateral trade between our two nations commensurate with excellent goodwill between the government and the people of India and Mongolia in diverse field like MSME, pharmaceuticals & healthcare, e-governance, agricultural and dairy sectors. He appreciated the efforts and activities of PHDCCI in collaborating with Mongolia.

Mr Pradeep Multani. Senior Vice President, PHDCCI proposed a formal vote of thanks and hoped MoU signing and subsequent activities which will be held under its umbrella will help in furtherance of bilateral economic and trade ties of both the nations.

The virtual ceremony was attended by the officials from PHDCCI and MIBC: Mr Saket Dalmia, Vice President PHDCCI, Mr. Saurabh Sanyal, Secretary General, PHDCCI, Mr. Surendra Kumar Bansal, Chairman, MIBC, Shri O.P. Meena, First Secretary & Head of Chancery, Embassy of India, Ulaanbaatar, Mongolia, Madam Gundegmaa Otgonsuren, Board Member, MIBC and Mr Naveen Seth, Assistant Secretary General, PHD Chamber which reflected their views on important role in bridging the asymmetry of information on bussines opportunities, supplementing the existing complementarities and consolidating ongoing business coloration between Indian and Mongolian business.

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Gender Equality is the need of the hour…

Apr 28, 2021 by Rekha Nair 0 Comments #PHD Chamber of Commerce and Industry

We need to see women empowerment at the grass-root level where women are skilling themselves and are making the difference. There have been policy shifts that are helping women in this regard. Gender equality is the need of the hour for Women Empowerment mentioned Ms. Nidhi Khare, Additional Secretary (CA), Ministry of Consumer Affairs, Government of India in a webinar organized by PHD Chamber of Commerce and Industry on “Entrepreneurship Development and Skilling for Empowered Women: Covid and Post Covid Landscape”.

Ms. Khare shared that the government has been taking action on ease of doing business; ensuring that women have individual bank accounts leading to independence for many women. There have been many reforms relating to promoting startups to ensure that youth understands its responsibility towards creating wealth, job generation and starting new businesses. There has been emphasis given to women skilling and organisations which are helping small and large women run enterprises.

Ms. Nidhi Khare mentioned that amidst the pandemic, there is a technology shift and change in the working system. We need to strengthen to home system to adapt to this change. We need to skill youngsters for the development of the nation and we need to ensure gender equality in the future. The country needs to prepare itself for different roles with the coming of AI, automation and other developments.

Dr. Rajni Aggarwal, President, Federation of Indian Women Entrepreneurs (FIWE) while discussing the difficulties faced by women in society and home, discussed that skilling is happening at grassroots, home, and at business levels. There is a need to handhold women entrepreneurs which helps them grow and develop their business.

Ms. Arpanaa Deb, Ambassador, Vestige while shared her views about direct marketing which has helped her to be empowered and independent. Direct marketing is a suitable form of a working model for women as its flexible, has a wider reach, and focuses on relationship development. Direct marketing companies are educating women to be entrepreneurs which are helping women in getting independent and become self-reliant.

Dr. Alka Kaul, Director, Horizon Industries Products Pvt Ltd while sharing her journey as an entrepreneur mentioned that we don’t want to be better than me, we just want to have our space and acknowledgment in society. There is a need to educate gender equality in the school itself so that these societal stigmas and barriers can be removed in the future.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry in his presidential address lauded the front-line warriors who are undauntedly working towards containing the spread of Covid and treating a large number of suffering people. PHD Chamber extends solidarity with the Government and the people fighting against this pandemic. He discussed the rise in women-owned enterprises in India which is providing process and employment opportunities to many people around the area.

Mr. Aggarwal mentioned that with the constant rise in the working-age population in the country, there is a need for creating jobs, fuelling innovation, and furthering investment in health and education, entrepreneurship among women could transform India’s economy and society. Skilling is the key to raising women’s participation in the workforce which can boost India’s GDP. The use of technology, promotion of incubation space, and setting up of upskilling centers would equip and enable women to participate in the ongoing fourth industrial revolution.

Though this pandemic has created tough times for the industry, especially the MSMEs and hence the budding and thriving entrepreneurs have found it to be an uphill task to survive the economic slowdown. Yet we believe that the Indian people are very enterprising and they will surely overcome this crisis and will thrive again. The direct selling industry has been contributing significantly to women entrepreneurship and making it a reliable and consistent livelihood support esp. during these pandemic times and needs to be encouraged and pushed forward. It is time that we give it a formal shape and recognition as also make skilling a focused area for these budding entrepreneurs, said Mr. Sanjay Aggarwal.

Mr. Pradeep Multani, Sr. Vice President, PHD Chamber of Commerce talked about the importance of women in society and the importance of women empowerment for the effective development of the country. He mentioned that it’s essential for women to be skilled to be able to better serve their families at home as well as professionally. Skill development not only creates employment opportunities but also empowers them.

Mr. Gautam Bali, Chair, Direct Marketing committee, PHD Chamber in his theme address shared that India has more women-owned enterprises than many other countries and this will grow in the years to come. Women entrepreneurship directly affects income, employment, and capital formation while indirectly benefitting household-level resource allocation. Supporting women entrepreneurs not only improves their livelihood but also creates jobs.

Mr. Jayant Krishna, Chair Skill, and Entrepreneurship Development Committee, PHD Chamber while discussing the economic growth of the nation, there is a need to creating equal job roles for the country especially in the area of entrepreneurship and direct selling and marketing.

Mr. Ajay Khanna, Co-Chair, Skill, and Entrepreneurship Development Committee, PHD Chamber discussed the rise in women entrepreneurs and increase in direct selling industry among women which enable women flexible working and profitable returns.

Mr. Atul P Anand, Director, Skill and Entrepreneurship Development Committee, PHD Chamber in his concluding remarks mentioned that there is a need to promote skilling in all sectors.

Ms. Kadambari, Co-Chair, Skill, and Entrepreneurship Development Committee, PHD Chamber while proposing the formal vote of thanks to all the august delegates and audience, mentioned that there is a need for developing gender-responsive strategies for skill development for women – who are no less than men. Empowering women socially, economically, educationally, politically, and legally is important for socio-economic development.

The webinar was moderated by Mr. Vivek Seigell, Assistant Secretary-General, PHD Chamber and was attended by Mr. Saurabh Sanyal, Secretary-General, PHD Chamber along with many industry stalwarts pan-India.

PHD Chamber of Commerce and Industry’s webinar was supported by Vestige Marketing Pvt Lmt along with DLF India; Multani Pharmaceuticals Ltd; JK Tyre & industries ltd; Marble City; Paramount Cables ltd; SMC Investments and Advisors Limited; Blossom Kochhar Aroma Magic; DCM Shriram Industries ltd; Radico Khaitan ltd and Timberworkz.

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Smt. Nirmala Sitharaman in a virtual session organised by the PHD Chamber of Commerce and Industry

Apr 23, 2021 by Rekha Nair 0 Comments #PHD Chamber of Commerce and Industry, #President, #Sh. Sanjay Aggarwal, #Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman

New Delhi: Provision of oxygen, vaccines and their logistics to people affected by coronavirus is being ensured, given the recent surge in cases of COVID-19 pandemic across the country. This was stated by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in a virtual session organised by the PHD Chamber of Commerce and Industry here today.

Speaking at the event, Smt. Sitharaman mentioned that the Government is reviewing and monitoring the situation regularly and working arduously for a better co-ordination between States, hospitals and suppliers of oxygen and vaccines to match the demand and supply in the country.

The Finance Minister stated that the Prime Minister himself is monitoring the situation with eminent doctors and vaccine manufacturers. The import of vaccines, certified by international bodies has been allowed in India; support is being extended to manufacturers by the Government by way of giving advances and vaccination drive against coronavirus has been allowed for people aged 18 years and above from 1st May 2021, She added.

Smt. Sitharaman said a slew of announcements have been made in regard to the drug Remdesivir and custom duty has been waived and quantity for export has been held back for use in country considering the requirement of Remdesivir injection.

These announcements are expected to increase the availability of the injection, the Finance Minister said.

For oxygen supply, the government is identifying idle manufacturing capacities to match the demand and supply in the country, Smt. Sitharaman said.

Smt. Nirmala Sitharaman said that the way forward to tackle the current situation is through micro containment zone so that life and livelihood can be protected.

Sh. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, said that the Central Government had last year acted swiftly and extended the timelines for compliances under various corporate laws and the same steps and support measures are required this year also.

The Union Finance Minister assured that the valuable inputs received from PHD chambers of Commerce and Industry will be considered for the industrial and economic growth of the country.

Former presidents, senior managing committee members and members from industry also participated in the virtual interactive session with the Union Finance Minister

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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.

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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.

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.

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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

India & Bangladesh is at the Peak of Engagement

Mar 11, 2021 by Neel Achary 0 Comments #PHD Chamber of Commerce and Industry

India and Bangladesh are at the peak of engagement and we are working on improving the connectivity between the nations which will help to increase the bilateral trade mentioned Dr. Pramyesh Basall, Commercial Representative, High Commission of India, Bangladesh in the inaugural session of Bangladesh PrintPack International Expo 2021 organized by PHD Chamber of Commerce and Industry.

Dr. Pramyesh Basall mentioned that 2021 is a special year for India and Bangladesh as its 50 years of liberation of Bangladesh and 50 years establishment of diplomatic relations between India and Bangladesh.

He discussed that among south Asia, India and Bangladesh are one of the largest trade partners, the connection at the level of senior dignitaries is optimistic.

Dr. Basall emphasized that companies from India and Bangladesh should come together and work towards collaboration with each other. We can trade with each other as well as we can trade with third countries also.

Mr. Mohammad Mahfuzul, CEO, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) discussed the present and prospects of packaging in India and Bangladesh, mentioned that collaboration in the printing and packaging sector between both the countries will be beneficial for industries in both the nations.

Mr. Prem Anveshi, Managing Director, Futurex Trade Fair & Events Pvt. Ltd mentioned that India and Bangladesh have been sharing a deep-rooted history, mature relationship with each other. He further mentioned that with the new leadership of India we have realized that there an important role India can play for its neighbors for their progress and development.

Mr. Naveen Sardana, Chair, International Affairs Committee for South Asia, PHD Chamber of Commerce and Industry discussed the close historical, civilization, and cultural ties shared between India and Bangladesh mentioned that it is a major pillar of India’s neighborhood first policy. He also mentioned Bangladesh is India’s biggest trade partner in South Asia, bilateral trade between India and Bangladesh has grown steadily over the decade. Cooperating in power sectors has become one of the hallmarks of India and Bangladesh relations. Bangladesh is India’s biggest development partner.

Talking about the packaging industry, he deliberated that packaging is a high growth industry in India and is developing at a fast rate making India a preferred hub for the packaging industry. It’s a pivotal sector, driving technology and innovation growth in the country adding value to the various manufacturing sectors including agriculture, FMCG, and many more.

The session was moderated by Mr. Rakesh Kumar Sangrai, Secretary, PHD Chamber of Commerce and Industry, and was attended by many industry stalwarts around the world.

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Innovation the key to success: Experts at PHDCCI video conference

Mar 7, 2021 by Neel Achary 0 Comments #PHD Chamber of Commerce and Industry

PHD Chamber of Commerce and Industry (PHDCCI) in association with GIZ organized a Video Conference on Productivity Improvement through Process Waste Reduction with the objective to create awareness about the principles of lean manufacturing and ZED model in manufacturing.

Mr. Naresh Chawla, Senior Consultant, Kaizen Institute India made a detailed presentation on improving productivity and processing waste management. He said that productivity is the prime factor determining the competitiveness of a company. Productivity depends on efficiency, effectiveness and adaptability. He pointed out that during covid-19 pandemic, only those companies survived who modified their operations according to the changed circumstances.

Mr. Chawla shared that for entrepreneurs productivity and resource utilization have a cap as they cannot go beyond 100 per cent but methodology has unlimited scope as technology can be leveraged to improve productivity infinitely. He added that return on money invested is a measure of efficiency. He explained that efficiency implies how fast an entity is able to rotate its assets.

Mr. Chawla underlined that innovation is key to success for businesses as it leads to enhanced sales and better profit margin. Therefore, new product, new method of production, new source of raw material, creation of monopoly, breaking up monopoly and exploring new markets are extremely important for businesses.

Highlighting the importance of elimination of wastage, Mr. Chawla said that in addition to preventing material wastage, focus should be to avoid wastage of time and manpower. He said that activities which consume time and resource but do not add value are categorized as non-value adding and should be avoided to increase profitability. He explained the 8 wastes with acronym DOWNTIME representing Defects, Overproduction, Waiting, Non-value added processing, Transportation, Inventory excess, Motion waste and Employee waste

Mr. Ankur Dhir, Principal Consultant & Trainer Quality Solutions, Chandigarh also made a presentation to explain the cost reduction techniques through material flow cost accounting (MFCA) and Zero Effect and Zero Defect (ZED) Model.

Mr. Dhir mentioned that material flow cost accounting (MFCA) is a management tool that assists organizations in better understanding the potential environmental and financial consequences of their material and energy practices and seeks to improve them via changes in those practices.

Speaking about the ZED Certification Scheme, Mr. Dhir explained that this is an extensive drive of the Government of India for inculcating Zero Defect & Zero Effect practices in manufacturing processes to ensure continuous improvement for enhancing global competitiveness of MSMEs in the country. The Scheme includes assessment of business processes, rating and handholding of MSMEs to optimize their production with intervention of experts.

He explained that for ZED certification, the MSMEs are assessed on various parameters including production management, quality management, environment management, energy managements, intellectual property management and safety management etc. Based on the existing systems and processes of manufacturing, a company is categorised into 5 different levels of maturity starting from learners, beginner, organized, achiever and world class.

The MSMEs are evaluated on various parameters under each model and depending on the score are rated as Bronze, Silver, Gold, Diamond and Platinum where bronze is the lowest rating with score ranging from 2.2 to 2.5 and Platinum is the highest rating with score above 4.0.

MSMEs enrolled in MSME INNO programme participated and benefited from the programme.

Tag: PHD Chamber of Commerce and Industry