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Krishna Kumar Maheshwari elected as Vice President of FTCCI

Aug 6, 2024 by Mansi 0 Comments #FTCCI, #Krishna Kumar Maheshwari

Hyderabad, August 6, 2024: Krishna Kumar Maheshwari, Managing Director of CIL Securities Limited is unanimously elected as Vice-President of the 107 years old Trade and Commerce body, the Federation of Telangana Chambers of Commerce and Industry (FTCCI) for the year 2024-25.

appointment

Sri Maheshwari has served as a managing committee member for several years and as chairman of various expert committees in the Federation.

He brings with him a rich experience.

On his election, he thanked all those who reposed confidence in his candidature

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IRS Official Reports Declining Cost of Income Tax Collection Over Years

Jul 25, 2024 by Mansi 0 Comments #FTCCI, #Income Tax, #IRS Official Report, #Telangana

Hyderabad, July 25, 2024……The Federation of Telangana Chambers of Commerce and Industry (FTCCI) hosted a post-Union Budget 2024-25 analysis session at the Federation House in Red Hills on Wednesday evening.

Danda Srinivas, IRS, Principal Commissioner of Income Tax-4, Government of India and Rahul Singhania, IRS, Addl Commissioner of Income Tax, Rane-9, Hyderabad, the Government of India were the guests.

He gave his broad view of the budget. It is a non-adversarial tax regime (working together cooperatively to reach the best resolution for everyone). He gave some key highlights of the budget

SUDHIR_AMIT KUMAR_PALLAVI PAUL_RAHUL SINGHANIA AND VENU MADHAVI AT THE BUDGET ANALYUSIS

Today is Income Tax Day. It is our 165th Income Tax Day. This day commemorates the historical evolution of tax administration in India and the ongoing reforms that aim to enhance tax compliance and simplify the process for taxpayers. On this day, Income tax was first levied as a duty in India in 1860. The vision of the Income Tax Department (ITD) is to be a partner in the nation-building process through progressive tax policy, and efficient and effective tax, he said.

Over so many years of tedious income tax filing, we have transformed into simplified and faceless filing. The key thing here is a simplification of everything. The days of coercive tax collection are over. It is mostly voluntary filing and compliance. He said That the cost of tax collection has fallen over the years. He has asked people to file returns correctly.

His colleague Rahul Singhania, Addl Commissioner of Income Tax spoke about issues, challenges and suggestions raised by FTCCI. He responded very favourably.

Elaborating further on what his colleague said about the cost of tax collection coming down throughout, Rahul Singhania said now the tax cost of Income Tax collection has come down to less than ten paise. The Income Tax Collection Cost in India is the lowest in the world. The Income Tax Department spends just less than 10 paise on collecting every INR 100 Tax Collected, he said

The Gross collection of Direct Taxes for the Financial Year 2023-24 stands approximately at Rs. 22,27,067 crore.

Over the years the collection of tax has gone up many folds. Voluntary disclosures, Faceless Filing, Ease of Filing etc and many added to the increased collection of the taxes. But the cost of collection of the tax has not gone up, he added.

The objective of Post Union Budget Analysis was to guide manufacturers, service providers, professional exporters, importers, entrepreneurs and others from trade, commerce and industry on the key aspects of the policy initiatives and the Direct and Indirect Tax proposals in the budget, and economic perspective on the budget as well said Suresh Kumar Singhal, President of FTCCI.

CA Sudhir, Chairman Direct Taxes Committee said the budget presented yesterday focused on strengthening the abilities of all Indians to seize opportunities in the journey towards a ‘Viksit Bharat’

Irshad Ahmed, Chairman of GST & Customs Committee of FTCCI said the tax incidence on the common man has come down. But the compliance burden has gone up. And it is increasing. And it is hard for small business people. The departments are sending notices. We expected that the standard 18% of GST may come down, but that has not happened. The GST on petrol has been a contentious issue since the implementation of the Goods and Services Tax (GST) law in India. Certain developments in the recent past have led us to believe that the GST Council may decide to charge GST on petrol and petroleum products, diesel and electricity, he said

Smt Venu Madhavi Muppala, Partner at Ernst & Young LLP, Amit Kumar Fitkariwal, Partner at Deloitte Touche Tohmatsu India Pvt. Ltd and Smt Pallavi Paul, Technical Director at BSR & Co. LLP spoke on various aspects of the budget in detail. Their sessions were more of technical sessions.

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FTCCI in association with NASSCOM held a half-day MSME workshop on Strategic Digital Adoption

Jul 13, 2024 by Mansi 0 Comments #FTCCI, #MSME, #NASSCOM, #Prashanthi Kolluru, #Strategic Digital Adoption

Hyderabad, July 13, 2024…. The Federation of Telangana Chambers of Commerce and Industry (FTCCI)’s ICT Committee and the National Association of Software and Service Companies (NASSCOM), a non-governmental trade association and advocacy group jointly on Friday organized a half-day MSME workshop on Strategic Digital Adoption

SEEN IN THE PIC ARE BP ACHARYA PRESENTING A MEMENTO TO A SPEAKER AT THE WPORKSHOP FOR MSMES ON DIGITAL ADOPTION. ALSO SEEN ARE MOHAN RAIDU AND YERRAM RAJU

Over 100 participants and MSMEs participated in the same.

BP Acharya, a retired Special Chief Secretary, Govt of Telangana and Chief Advisor, FTCCI graced the valedictory function. Addressing the gathering “failure is not an option” as stated by NASA, today’s MSMEs have no option except going digital. MSME is an important sector. You will perish if you don’t adopt. Don’t Be a Tech Dinosaur, not only adopt the technology fast but also embrace the Age of AI. MSMEs are the most innovative, the maximum number of job creators in the country. Besides farmers, the biggest risk-takers in our country are MSMEs. Most of the state governments, including Telangana are coming up with Policies to develop the MSME sector.

Mr. R. Ravi Kumar, Vice President of FTCCI, Rajesh Raju, Founder and CEO of Achala Solutions; Nirupam Chaudhuri, Director at NASSCOM and Dr B. Yerram Raju, a banker turned economist and K Mohan Raidu, Chair of FTCCI ICT Committee graced the inaugural function.

R. Ravi Kumar said MSMEs will have a competitive advantage over their peers and rivals if they adopt digital technologies. They can also improve significantly by adopting digital tools, applications and technologies in their daily operations and business processes.

Nirupam Chaudhuri, Director at Nasscom, Digital Transformation Enthusiast, and Community influencer said Digital adoption is a growing trend among MSMEs who are looking to scale their businesses in the years to come. Digitization will lead to enhanced operational efficiency, improved customer and employee engagement and expanded market and customer reach.

Dr. B. Yerram Raju, International SME Specialist & MSME Turnaround Management Consultant said staying ahead in sports or business is not an easy task. You must be equipped with every ammunition possible. In this case, adopt technology and prosper otherwise you will perish, he said.

Prashanthi Kolluru, Founder & CEO of KloudPortal explained the difference between traditional and digital marketing, digital advertising, its best practices etc. Businesses with an online presence are more confident in their growth, with 79% of business owners with a website expecting to grow by 25% in the next three to five years, she added.

Kamlesh Kishore Naidu, Global Head of Strategy & Insights, PXP Financial spoke about eCommerce-Prerequisites, Support, Payments and Fraud. He explained platforms for e-commerce. Ensure your site is mobile-friendly. Simplify navigation and checkout processes, he said.

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FTCCI’s Annual Excellence Awards 2023 presented

Jul 6, 2024 by Mansi 0 Comments #Awards 2023, #Dr Yerram Raju, #FTCCI, #Start-Up

Hyderabad, July 06, 2024….… The Federation of Telangana Chambers of Commerce and Industry (FTCCI), 107 years old and one of India’s most dynamic regional chambers presented its Excellence Awards 2023 on Friday evening in a function held at its premises in KLN Prasad Hall in Red Hills. .

The awards were given away in three broad areas Industry, Innovation and Individual. The awards were presented in 21 categories. Some of the areas where awards were given are Exports, Marketing, Innovation, R&D Technology, Information Technology, Employee Welfare, Aerospace and Defence, Tourism Promotion, Individuals – Scientist/Engineer, Woman Entrepreneur, Differently Abled Person and Social Entrepreneur.

D SRIDHAR BABU MALLU RAVI AND AWARDS WINNERS OF FTCCI EXCELLENCE AWARDS 2023

The ‘Start-Up’ category was instituted last year. This year three new categories added are Digital Transformation by Enterprises and ESG performance to go along with the sustainable development goal

Dr Yerram Raju was recognised for outstanding contribution towards the MSME Sector

D. Sridhar Babu, Minister of IT & Industries, Govt of Telangana and Dr Mallu Ravi, MP together with the leadership of FTCCI gave away the awards

The winners include INDUSTRY 01. EXCELLENCE IN INDUSTRIAL ALL-ROUND PERFORMANCE – LARGE INDUSTRIES–Mahalakshmi Profiles Private Limited, 02. EXCELLENCE IN INDUSTRIAL ALL-ROUND PERFORMANCE – SMALL MEDIUM-ENTERPRISES–Nandini Enterprises, 03. EXCELLENCE IN AGRI-BASED INDUSTRY —Shanmukha Agritec Limited; 04. EXCELLENCE IN EXPORT PERFORMANCE – SMALL MEDIUM ENTERPRISES–Eggway International Asia Pvt Ltd; 05 EXCELLENCE IN CSR J K Fenner (India) Ltd; 06. EXCELLENCE IN AEROSPACE & DEFENCE INDUSTRY –SEC Industries Private Limited; 07. EXCELLENCE IN PHARMA –Gland Pharma Limited; 08. EXCELLENCE IN ESG PERFORMANCE – LARGE INDUSTRIES–M/s Biocon Limited INNOVATION—09. EXCELLENCE IN MARKETING

INNOVATION —Global Agri Resources Private Limited; 10 EXCELLENCE IN PRODUCT INNOVATION – LARGE INDUSTRIES–Metrochem API Private Limited; 11. EXCELLENCE IN PRODUCT INNOVATION – SMALL MEDIUM ENTERPRISES–Marut Dronetech Private Limited; 12. EXCELLENCE IN HEALTHCARE INNOVATION –Sensa Core Medical Instrumentation Pvt Ltd; 13. EXCELLENCE IN RESEARCH & DEVELOPMENT –Hexagon Capability Center Pvt Ltd, Hyderabad; 14. EXCELLENCE IN START-UP —Arvis Digital Labs Private Limited – AutomatR; 15. EXCELLENCE IN DIGITAL TRANSFORMATION Tata Advanced Systems Limited;

INDIVIDUAL—16 EXCELLENCE IN SCIENCE & ENGINEERING –Dr. Markandeya Gorantla; 17. EXCELLENCE IN WOMEN ENTREPRENEUR —Ms. Mrunalini Rao

Addressing the gathering before presenting awards the IT & Industries Minister D. Sridhar Babu said Congress Government will be Industry Friendly Government. We will solve your problems. Rs 3700 crore industry incentives announced in the past were not disbursed. We will look into it

Our CM Revanth Reddy garu will unveil a new and robust industrial policy in three to four weeks.

TG Govt will also unveil the first-of-its-kind MSME Policy soon in future.

We are setting up Skill University in the state. We will make TG skill capital for the globe, the Minister said

Dr Mallu Ravi lauded the efforts of FTCCI. He assured all the help as an MP. No development is possible without industrial development, he said. Many governments are competing with each other on industrial growth, he said.

The awards promote the spirit of entrepreneurship. These were initiated in 1974 and are continued year after year uninterruptedly. Awards have more creditability when instituted by distinguished organisations like FTCCI. The award will boost morale, improve quality, and production, and earn good recognition for the company, added Meela Jayadev in his welcome address.

He highlighted a few pain points such as Trade Licence fees based on area and electricity bill issues and sought a couple of acres of land for constructing the state-of-the-art FTCCI building. The current building is insufficient in line with its fast progress and wanted the government to consider granting a couple of acres of land.

The jury is headed by Mr. Karunendra S. Jasti, Chairman and Ramakanth Inani as Co-Chairman. Sri Karunendra S Jasti, Chair, of the FTCCI Excellence Awards Committee gave his introductory remarks and said the awards acknowledge outstanding achievements promoting corporate and individual initiatives in economic and social domains.

The awards are judged by a jury composed of Justice Sri Challa Kodanda Ram, M Gopal Krishna, IAS & Ajay Mishra, IAS; Uday B Desai, Founding Director IIT Hyd and Ms Vanitha Datla, MD of Elico.

A jury member said that the selection is done more transparently and has been done for the past 50 years.

Sri Anil Agarwal, Immediate Past-President, FTCCI, Senior Past President of FTCCI; Sri Atluri Subba Rao; Sri Suresh Kumar Singhal, Sr Vice President; Sri R. Ravi Kumar, Vice-President, FTCCI and others graced the occasion.