Tag: PHD Chamber of Commerce

Vaccination can mitigate COVID-19 infection for Long-Term
Health, News

Vaccination can mitigate COVID-19 infection for Long-Term

May 21, 2021 by Rekha Nair 0 Comments #PHD Chamber of Commerce

Vaccination can mitigate COVID-19 for the long term and drive India towards being a Covid free Nation. We have become the world hub for vaccines and if we depend on the three vaccines, the estimate is that by July- August, we will have enough doses to inoculate majority of the citizens which will helping curb the rapid spread of the virus in the country. Covishield and Covaxin are equally good for vaccination. The vaccine is not a cure but a protection against the disease and the severity of the disease is significantly lesser post vaccination mentioned Dr. Naresh Trehan, Chairman & Managing Director, Medanta – The Medicity Hospital in the Management Committee Meeting of PHD Chamber of Commerce and Industry for 2020-2021.

Dr. Naresh Trehan opined that there will be severe post covid syndrome in many people who have recovered from the infection in the second wave. We are designing post covid rehabilitation program which will help strengthen the lungs and bring them back into healthy condition.

Imparting clinical knowledge about Mucormycosis, Dr. Naresh Trehan explained that the black fungus is always present in the atmosphere, it enter and attacks those who are immune- compromised, as their resistance to fight infection is affected. Those on threat are the patients who have been on prolonged use of high dose steroids and are diabetic, with sugar levels going hey wire due to medication, are increasingly susceptible to this fungus attack.. Some of the symptoms are a cold stuffy nose, tingling sensation on cheeks, and black spots in the oral cavity. It can be treated effectively if diagnosed at the earliest but if it spreads beyond the sinuses and enters the brain it can be deadly. It is advised that people with high steroid medication and diabetes be careful about examining themselves and should consult doctors in case any symptoms arise.

While deliberating about the second wave, Dr. Trehan mentioned that the second wave is highly transmissible and we were aware that there will be a second wave, as expected. Not skewing the blame towards any single entity, Dr Trehan mentioned that the Nation fell prey of the second wave due to the collective fault of all of us and it has indeed caused too much harm to the nation. The personal protection i.e. principles of covid appropriate behavior were not followed by the citizens along with the gatherings and continued celebrations of festivities which made this virus mutate and spread rapidly , leading to immense loss of lives, across the Nation.

He mentioned that we tried to cope up with the oxygen supply and demand in the best possible way with the help of the industry. The staggered lockdown in North India has helped in breaking the chain, the numbers of new cases are on the decline but the demand for oxygen and other equipment is going up in South India, now.

Talking about the 1st wave of the pandemic, he mentioned that the 1st wave was highly contagious. Indians very soon picked that masking, social distancing, and hand hygiene and also understood that we didn’t have all the resources to take care of the pandemic but due to the National lockdown there was breakage in the chain of spread; helped repurpose the medical facilities and repurpose the industry to provide us vital types of equipment that helped us to fight the pandemic. We also understood that it was infectious but the mortality was low and by the lockdown was lifted, we were ready with our treatments. Dr. Trehan also explained the sequential therapy and pathophysiology of covid-19.

Mr. Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry while moderating the session lauded the diligent efforts of Dr. Naresh Trehan in handling the severe second wave of the COVID-19 pandemic and extending selfless service to the countrymen in these crucial times. Mr Aggarwal also thanked Dr Trehan for time and again educating the citizens to fight against the Novell Corona Virus.

Mr. Pradeep Multani, Senior Vice President, PHD Chamber of Commerce and Industry while delivering a formal vote of thanks to the delegates and participants appreciated the efforts of Dr. Naresh Trehan for being a front-line warrior during the pandemic. He suggested that government should do vaccine procurement centrally which will help them in better negotiation, better cost, and seamless supply of the vaccine.

The session was attended by the leadership, Former Presidents and Management Committee Members along with the secretariat of the PHD Chamber of Commerce and Industry. PHD Chamber of Commerce and Industry’s session was supported by the Annual Sponsors namely 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.

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.