Issue 22 April 2016 l What’s Inside 2 3 4 5 6 7 8 1 Raman Sidhu, FCA Chairman EBG Federation, India Dear Members, Time really flies and we are already into April and I am pleased to present to you the second edition of the EBG Newsletter. 2016 started off with a bang and in so much as we had an excellent interactive meeting with Mr Deepak Parekh, Chairman, HDFC Limited; Pre and Post Budget sessions and a joint meeting with British Telecom. Mr Deepak Parekh was kind enough to come specifically from Mumbai to interact with us and took the very next flight thereafter for Mumbai. We thank him for his consideration. The work to release th th the 14 edition of the EBG Position Paper on 19 April, 2016 is in full swing. I urge all members to render their full support to make this event successful both by way of sponsorship and attendance. I continue to emphasize each time that our focus areas for this year include enhancing EBG's membership base with quality EU Corporates joining EBG across all chapters; strengthen EBG's Secretariat – the key to further build EBG; grow the sector committees- membership as well as the coverage; enhance EBG's advocacy efforts with its stakeholders; grow the SME Forum which has now been announced and participate in EU funded projects. Following the release of the EBG Position Paper this month, EBG Federation will also come out in a couple of months with its updated Directory of European companies in India which was initially published in 2012. Now is the time for the existing members to help in enrolling new members as well as for them to renew in time their existing membership as the new Financial Year has begun. EBG Federation continues working towards being the voice of European companies in India and will need the support of the EU Corporates in India to make this a reality. For details regarding EBG Federation and its activities, please contact Ms Neema S Kumar at [email protected] or call her at 9811418874. I request all existing members to provide this vital support Let us all work towards building a stronger EBG Federation in India. With my best wishes, Raman EBG-IFCCI Pre Budget panel discussion - th 18 February, 2016 at the French Embassy, New Delhi EBG meeting with Mr Deepak Parekh, Chairman, th HDFC Limited – 13 January, 2016 at the TajMahal Hotel, New Delhi EBG's Post Budget event with BMR Advisors - nd 2 March, 2016 at the Royal Plaza, New Delhi Union Budget Analysis Meeting in th Bangalore - 4 March, 2016 EBG-BT Breakfast Session with Mr Kevin Taylor, President, Asia, Middle East, Africa & Turkey, th BT Global Services - 15 March, 2016 at Le Meridien, New Delhi Mr Robert Frittrang,Managing Director, BMW Plant Chennai left India in December, 2015. He was on EBG's Chennai Council. His replacement in the Chennai Council will be announced at the earliest. UPDATE EU & India Membership Drive EBG News Newsletter Sponsor Road map to EBG Position Paper, 2016 Chapter Updates Chapter Updates - Cont’d EBG Federation’s now permanent Delhi office has shifted & now fully th functional w.e.f 18 April, 2016. Address: Second Floor, Building No. 6, Okhla Industrial Estate, Okhla, New Delhi Email: [email protected]
Transcript
Issue 22 April 2016l
What’s Inside
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Raman Sidhu, FCAChairmanEBG Federation, India
Dear Members,
Time really flies and we are already into April and I am pleased to present to you the second edition of the EBG Newsletter.
2016 started off with a bang and in so much as we had an excellent interactive meeting with Mr Deepak Parekh, Chairman, HDFC Limited; Pre and Post Budget sessions and a joint meeting with British Telecom. Mr Deepak Parekh was kind enough to come specifically from Mumbai to interact with us and took the very next flight thereafter for Mumbai. We thank him for his consideration. The work to release
th ththe 14 edition of the EBG Position Paper on 19 April, 2016 is in full swing. I urge all members to render their full support to make this event successful both by way of sponsorship and attendance.
I continue to emphasize each time that our focus areas for this year include enhancing EBG's membership base with quality EU Corporates joining EBG across all chapters; strengthen EBG's Secretariat – the key to further build EBG; grow the sector committees- membership as well as the coverage; enhance EBG's advocacy efforts with its stakeholders; grow the SME Forum which has now been announced and participate in EU funded projects.
Following the release of the EBG Position Paper this month, EBG Federation will also come out in a couple of months with its updated Directory of European companies in India which was initially published in 2012.
Now is the time for the existing members to help in enrolling new members as well as for them to renew in time their existing membership as the new Financial Year has begun. EBG Federation continues working towards being the voice of European companies in India and will need the support of the EU Corporates in India to make this a reality. For details regarding EBG Federation and its activities, please contact Ms Neema S Kumar at [email protected] or call her at 9811418874. I request all existing members to provide this vital support
Let us all work towards building a stronger EBG Federation in India.
With my best wishes,
Raman
EBG-IFCCI Pre Budget panel discussion -th 18 February, 2016
at the French Embassy, New Delhi
EBG meeting with Mr Deepak Parekh, Chairman, thHDFC Limited – 13 January, 2016 at the
TajMahal Hotel, New Delhi
EBG's Post Budget event with BMR Advisors - nd2 March, 2016 at the Royal Plaza, New Delhi
Union Budget Analysis Meeting inthBangalore - 4 March, 2016
EBG-BT Breakfast Session with Mr Kevin Taylor,President, Asia, Middle East, Africa & Turkey,
thBT Global Services - 15 March, 2016at Le Meridien, New Delhi
Mr Robert Frittrang,Managing Director, BMW Plant Chennai left India in December, 2015. He was on EBG's Chennai Council. His replacement in the Chennai Council will be announced at the earliest.
UPDATE
EU & India
Membership Drive
EBG News
Newsletter Sponsor
Road map to EBGPosition Paper, 2016
Chapter Updates
Chapter Updates - Cont’d
EBG Federation’s now permanent Delhi office has shifted & now fully
thfunctional w.e.f 18 April, 2016.
Address:Second Floor, Building No. 6,Okhla Industrial Estate, Okhla, New DelhiEmail: [email protected]
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EU & India EBG News
together Prime Minister Modi with the Presidents of the European Council Donald Tusk and the President of the European
Commission Jean-Claude Juncker.
On that occasion, the Leaders discussed all aspects of our cooperation and in particular they focused on economic and
trade relations. The Leaders also agreed an Agenda for Action 2020 as a common roadmap to guide and strengthen the EU-
India Strategic Partnership over the next five years. On trade, both sides expressed their commitment to further deepening
economic ties and noted that the EU's Agenda for Jobs, Growth, Fairness and Democratic Change and India's Sabka Saath,
Sabka Vikas initiatives create new opportunities for mutually beneficial cooperation between people and business. India also
announced that it is committed to establishing a mechanism to facilitate investments of EU Member States.
Moreover, Joint Declarations adopted at the Summit on a Water Partnership and a Clean Energy and Climate Partnership
will drive cooperation over the coming years, promoting regulatory and governance dialogue as well as business solutions in
many sectors crucial to growth, employment, climate change and health. On the trade side, contacts between the two sides will
continue and no stone will be left unturned in the attempt to resume talks.
In the meantime, the EU Delegation is welcoming the progress made by India in improving ease of doing business and we
look forward to this process continuing. To contribute to this process, the EBG Federation has an important challenge
representing the positions of its members and constituting a valid interlocutor for government authorities.
This month will also see the issuing of the 2016 EBG Position Paper. As always, the EU Delegation looks forward to the
release of this document which is an important milestone articulating the interests of EU business in India. Let me express my
congratulations to all EBG members for their efforts in completing the Position Paper.
H.E. Mr. Tomasz KozlowskiAmbassador of the European Union to India
Reform agenda gathers momentumUnion Budget 2016 has set the tone quite right for structural reforms to be ushered in by the NDA government over the current
fiscal. Whilst the government undisputedly committed to macro-economic objectives of achieving accelerated growth and
pursuing path of fiscal prudence, it has done a fine job of aligning inclusive growth agenda with policy reforms. Unwavering
policy push to 'make-in-India' programme has led to visible spurt in manufacturing sector growth, and revival of exports. On
socio-economic front, programmes such as skill India, digital India, standup India have contributed towards employment
creation and building India's business competitiveness.
Amongst recent policy reforms, progressive liberalisation of Foreign Direct Investment (FDI) to bring more economic
activities under automatic route is commendable, and should help unleash the potential of certain sectors hitherto grappling
with policy uncertainty. For instance, Increased FDI caps for insurance and defence have come into effect. 100 percent FDI for e-
commerce marketplace enterprises should enable development of sophisticated e-tailing industry for goods and services,
albeit draft FDI rules may require fine-tuning before the new policy framework begins showing results. Permitting FDI in Limited
Liability partnerships (LLPs) provides enhanced flexibility to foreign investors in choosing preferred form of entity presence for
their businesses. From tax policy standpoint, a definite roadmap for implementation of Goods & Services Tax (GST) continues to
remain an important expectation of trade and businesses, including European businesses present in India. Although, the
Finance Bill 2016, presented earlier this year by the Finance Minister, did carry out a few important amendments to both direct
and indirect tax laws. For instance, reduction of corporate tax for startups and small businesses is a good start ahead of potential
income tax rate reduction for corporates across the board, as the government proposes to phase out, albeit in graded manner,
majority of income and investment linked tax incentives with effect from next fiscal. Certain tax proposals in Finance Bill 2016,
were evidently inspired from outcome of the OECD Works on Base Erosion & Profit Shifting (BEPS) that is finding wider political
endorsement in arena of global tax policy. From indirect taxes standpoint, the budget carried out rationalization of tax rates and
corresponding rules, in anticipation of sooner-than-later implementation of GST. Equally significant are a set of administrative
measures announced by the Ministry of Finance, in particular to mitigate avoidable tax litigations, for MNEs in India.
Clearly, the Indian government's reforms agenda has got the momentum with it! It is imperative however, that a variety
of regulatory and legislative reforms are rolled out by the government in the current fiscal, that may allow India to realize higher
growth and enhance its 'ease of doing business' ranking. A few of anticipated reforms are, enactment of bankruptcy law;
ushering in arbitration in international tax treaties; a more conducive fiscal framework for India Based Fund Manager (IBFM), etc.
Forthcoming events in Delhi: Do Join us !!!
In my previous contribution to this newsletter in January, I noted that economic relations between India and
the European Union seemed to start the year on a positive tone. I am glad to observe that. In February we
had in Brussels the meeting between our top-ranking trade officials for a further stock-taking of the free trade
talks. On 30 March, the 13th Summit between the European Union and India took place in Brussels, bringing
Mr Kishore Jayaraman, President, Rolls-Royce India Private Limited served as the Chairman of EBG's Aviation sector committee. Due to enhanced work commitments and frequent travel, he is unable to give time to the Aviation sector committee and has stepped down as the Chairman. He will continue to be a part of the Aviation Sector Committee.
EBG thanks Mr Jayaraman for his support to the Aviation sector committee.
Thank you
EBG Federation in collaboration with Michelin IndiaInvites you to a panel discussion with
Mr. Jean Todt, President of the FédérationInternationale de l'Automobile (FIA)
On 'Responsible Road Behaviour'
thDate: Wednesday, 20 April, 2016
Venue: Royal Ball Room,The Imperial, Janpath, New DelhiTime: 7:00 pm onwards followed by dinner
“Officer of the order of the Crown” conferred by the King of Belgium on Mr Rajiv Dhawan, Founding Director, EBG Federation by H.E. Mr Pierre Vaesen, Former Ambassador of Belgium
Highest French Distinction “Knight of the Legion of Honour” conferred on Mr Sunand Sharma, former Country President, India & South Asia and Chairman, Alstom India.
Congratulations
RSVP for both events: Mr Kapil Dhalla at 9811849859Courtesy: Mr Mukesh Butani, Partner, BMR Legal & Mr Sumit Singhania, Director, BMR & Associates LLP.
We are delighted to inform all our members that Ms Rekha Khanna, Chairperson, EBG Delhi Chapter has been awarded the honour of Chevalier de l’Order National du Mérite (Knight of the National Order of Merit) by the President of the Republic of
thFrance. The investiture ceremony took place in New Delhi on April 14 , 2016.
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Road map to EBG Position Paper, 2016Membership drive
Some good reasons to join the EBGOur mission statement: EBG Federation in India aims to promote Europe as India's most preferred business partner thus creating environment that allows European Business to flourish.
One of the clear objectives for 2016 is to increase the membership of the EBG Federation in India. Our best advocates are undoubtedly the existing membership, and it is word of mouth which is the best vehicle for reaching out and engaging new members amongst the European Business Community in India.
As of today, EBG Federation has Chapters in Delhi, Mumbai, Bangalore and Chennai with around 170 EU corporates as members. We still need to consolidate.
Participating in a unique, effective and renowned forum which interacts with key decision-makers in government, industry associations, think-tanks, media and influential individuals.
Sharing experiences with a dynamic group of European business representatives that actively promotes and safeguards their respective business interests in India.
Benefitting from a wide range of events including:
Business events focusing on specific sector related issues.
Interactive meetings with Indian Industry, policy makers and others in the area of business and culture in order to facilitate greater understanding, dialogue and cooperation between all stakeholders.
Opportunities to connect with Indian Government and Industry.
Social networking events.
Access to bilateral chamber and other visible association's events.
Visits to facilities (like Maruti factory, behind the scene in Hotels, under construction Airports etc.), be a part of Leadership series, CFO Forums etc.
Raising policy issues with decision-makers through the EBG Position Paper published every year and aimed at improving the business climate in India.
Contribution to policy making through the EBG's 'Sector Committees' representing different industrial or business sectors and also presenting the European Business Communities' recommendations for the Union Budget every year to the Ministry of Finance and other government forums (A P Shah Committee – M.A.T)
Consulting the Directory of European Companies in India at no cost.
We would like to request each and every existing EBG member to be our Ambassador and help the EBG membership grow by looking around their own business community, be it those working in the same sector or in quite different fields, invite people along to a networking event or a business gathering, even a sector committee meeting, encourage them to bring their skills and their experience and join the EBG and make the EBG Federation yet more diverse and dynamic.
EBG Federation membership confers the following unique advantages:l
Enrol as a member /Renew yourMembership with EBG Federation
Call Kapil Dhalla at +91 9811849859to learn more.
over
I though am not sure as to how many of us see the birth of a new India
taking place. An India which is GENUINELY Indian and not an imitation
of other “modern orders”. I do not know how many of us believe, as I do,
that we will in times to come, see a new India which is for sure bigger,
better, stronger, corruption free, peaceful& prosperous than ever
before.
Given the mammoth size and numbers, this kind of growth and the
fundamental changes that are underway, throws up great opportunities
and potential. This also throws up a lot of challenges for the decision
makers in terms of channelizing this potential to make it a reality.
I thus feel that the architects of Modern Indianeed to engage, think out of
the box and leverage every possible strength to hasten the pace of
growth and get this juggernaut to really move. I also feel that the new
Polity and bureaucracy is more conducive to listen , reflect and act on
things which are in the National Interest and take along every possible
stake holder who can help .
I think it is thus an opportune time to engage with the decision and
policy makers of new Modern India with a new approach and renewed
vigour. I feel that we at EBG need to structure ourselves with more
Sectoral Focus and each Sector committee needs to look at itself as a
SBU for this purpose. We need full time sector specialists in the EBG
secretariat who can,not only help the sector members to constantly
engage with the Policy Makers but, also create sector events to
showcase the strength of European companies in those particular
areas. I think this is the time when European organizations can further
strengthen their relationships with the Indian Policy Makers and thwart
global challenges and competition by not only showcasing their
technological strengths but also through putting forth a more flexible
and win-win approach to partner India in its quest for growth.
I would thus urge all our European companies to effectively utilize the
unique platform of EBG which is recognized by the Indian Policy makers
as undoubtedly the single largest Industry body representing European
businesses.
I can only reassure you that with Seventeen Sector Committees and four
chapters already functional, and with the recognition already accorded
to EBG by Policy Makers and Polity, your active participation will not
only further the cause of European businesses and create win-win for
Indo-European Trade but would also be immensely helpful to you and
your organization .
Let us thus all get-together and partner India for mutual gains and
growth!
the last more than a decade or so.
EBG Federation- Moving forward
Rajeev GuptaSenior Advisor, EBG Sector Committees & Position PaperManaging Director, Resource Development International India Pvt Ltd
As we are all aware,India has been and remains to be
one of the fastest growing economies of the world
SECTOR COMMITTEE ENGAGEMENTS:
Automotive sector committee
Defence sector committee
Logistics sector committee
Retail sector committee
Telecom sector committee
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Chapter updates - Cont’d
EBG had an excellent start to the year 2016 with a charismatic speaker, Mr Deepak Parekh, Chairman, HDFC Limited addressing the EBG members. The
meeting was organised on Wednesday, 13 January, 2016 at Long Champ, Taj Mahal Hotel, New Delhi. It was very well attended. Mr Parekh spoke on “Investment lessons for foreign investors in India”. His address was very informative & crisp and supported by facts and figures. Great interest of audience clearly manifest in the never ending questions from them when the meeting had to be brought to a close. Mr Parekh is undoubtedly a man with a mission and a guiding force.
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EBG Federation in association with the Indo French
Chamber of Commerce in India (IFFCI) organized a Pre-
Budget panel discussion with an eminent panel of
journalists on Thursday, 18 February, 2016 at the French
Embassy in New Delhi. The eminent panel included
Dr Sanjaya Baru, Director - Geo-Economics and Strategy,
London and Honorary Senior Fellow, Centre for Policy
Research, International Institute for Strategic Studies;
Mr Anil Padmanabhan, Deputy Managing Editor, The Mint;
Mr Ashok Malik, Senior fellow at the Observer Research
Foundation and Dr Arvind Gupta, National Technology
Head, BJP. The session was moderated by Mr Rajeev
Gupta, Senior Advisor, EBG Sector Committees. It was a
well-attended session where the participants got to hear the
views of the panellists on the Union Budget 2016-17. The
session was followed by a networking reception.
The Pre-Budget session was supported by Market Insight,
Pernod Ricard and Trilegal.
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Chapter updates
EBG meeting with Mr Deepak Parekh, Chairman,thHDFC Limited – Wednesday, 13 January, 2016 in New Delhi.
Mumbai Chapter updates:Mumbai Chapter organized its 'Welcome 2016 party' on
stSunday, 31 January, 2016 at Ccaza Ccomodore in
Mandwa. The members enjoyed a relaxed day along with
their families by the poolside. Members travelled to Mandwa
by a Catamaran.
Chennai Chapter update: Mr. Bart DE GROOF, the Consul General of the Kingdom of Belgium in Chennai hosted a ‘Wine and Cheese’ evening for
ththe EBG Chennai chapter members at his residence on 9 March, 2016.
Union Budget Analysis Meeting on 4th March, 2016 in Bangalore
Bangalore Chapter update: Union Budget Analysis Meeting on 4 March, 2016: EBG
Bangalore Chapter provided an opportunity for the members
to get to know the insights of the Union Budget-2016 in
association with BMR Advisors. This meeting brought key
expectations on the direct tax and Indirect tax across IT
&ITeS, Energy, Infrastructure & Manufacturing, Real Estate
and Financial Services sectors
th
Delhi Chapter updates:
Pre Budget panel discussion with an eminent panel of journalist - th Thursday, 18 February,2016 at the French Embassy in New Delhi.
EBG members were invited to get expert insights and discuss in detail the significant announcements made in the budget, with experts at BMR Advisors, as the government
presented its full-fledged budget on 29 February, 2016. The event was organized on Wednesday, 2nd March, 2016 at the Venetian, Royal Plaza, 19, Ashoka Road, New Delhi; within 2 days of the announcement of the budget. The event started at 10:30 AM and was followed by lunch.
The speakers for the session were – Mr. Sumeet Hemkar, Partner, BMR & Associates LLP and Ms. Jayashree Parthasarathy, Partner, BMR & Associates LLP. Overview of the 2016 Budget was given by Mr. Hemkar and he also spoke on Direct Tax Aspects. Ms. Parthasarathy gave an insight on Indirect Tax Aspects.
th
EBG's Post Budget event with BMR Advisors - Wednesday
2nd March, 2016 in New Delhi
Mr Kevin Taylor, President, Asia, Middle East, Africa & Turkey, BT Global Services spoke on the ‘Impact of Cloud Technology on growth economies of AMEA’ which was followed by an interactive session.
