Issue 24 October 2016 l What’s Inside 2 3 4 5 6 7 8 1 Raman Sidhu, FCA Chairman EBG Federation, India EU & India Newsletter Sponsor Dear EBG Members, Wishing you all and your family a very happy Diwali. Raman I am pleased to bring youthe final edition of this year's EBG Newsletter. At the outset, I wish to thank Mrs Radha Bhatia, Chairperson, Bird Group, once again for supporting the publication of all the 2016 editions of the EBG Newsletter. This support has beenenormously helpful in continuing with the regular publication of the EBG Newsletter. Looking back at the 2016 activities so far, I am happy to state that whatever we had set out to achieve during this year has been to a great extent fulfilled. th l EBG was incorporated as a Section 8 Company under the Companies Act, 2013 on 11 March 2015 in the name of 'EBG Federation'. The first AGM was conducted on Friday, th 30 September,2016. th l EBG Secretariat moved into a new and its very own office from 25 April, 2016 in Okhla Industrial Estate, New Delhi l 5 new and important Sector Committee added including the latest Financial Services. l Timely publication of the EBG's Position Paper in April, 2016. Advocacy efforts through meetings with stakeholders is on. l Successful road shows in Delhi, Mumbai and Bengaluruorganized to present the 2016 edition of the EBG Position Paper to the Central Government and respective State Governments. l Consolidating our working relationship with European Business Associations and Bilateral Chambers which includedorganising joint events with BBG, IFCCI etc. l Ongoing strong engagement across all the chapters, amongst our members and Sector Committees. All this would not have been possible without the strong support from our members, the EU Delegation, European Embassies, Government of India and the Secretariat. Going forward, EBG aims to be a strong voice and a government interlocutor of European business in India. Growth in membership across all 4 chapters and building a strong Secretariat will remain the main objective for EBG. You can look forward to more interactive sessions and some high profile events in the coming months with key EBG Stakeholders. It has come to my notice that some members are not receiving event notifications. To ensure that this does not happen in the future, I request all members to please update their current corporate and personal details and send to Ms Neema Kumar at the earliest. You can write to her at [email protected]. Warm wishes for a festive and joyous season. . Annual EBG-BBG Dateline Delhi event - th Wednesday, 10 August, 2016 at the British Council, New Delhi EBG-BMR conducted a Webinar on “Impact of GST on businesses in India st on 31 August, 2016 st 1 meeting of the Financial Sector th Committee – Tuesday, 12 October, 2016 held in Home Credit's ofifce in Gurgaon Forthcoming event: th “Wine and cheese event” on 25 November in Mumbai at Mr. Rajeev Somani’s well appointed terrace pent house overlooking the Chowpatty beach. EBG News EBG Events EBG Events EBG Updates Current National and Delhi Council
Transcript
Issue 24 October 2016l
What’s Inside
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Raman Sidhu, FCAChairmanEBG Federation, India
EU & India
Newsletter Sponsor
Dear EBG Members,
Wishing you all and your family a very happy Diwali.
Raman
I am pleased to bring youthe final edition of this year's EBG Newsletter.
At the outset, I wish to thank Mrs Radha Bhatia, Chairperson, Bird Group, once again for supporting the publication of all the 2016 editions of the EBG Newsletter. This support has beenenormously helpful in continuing with the regular publication of the EBG Newsletter.
Looking back at the 2016 activities so far, I am happy to state that whatever we had set out to achieve during this year has been to a great extent fulfilled.
thl EBG was incorporated as a Section 8 Company under the Companies Act, 2013 on 11
March 2015 in the name of 'EBG Federation'. The first AGM was conducted on Friday, th30 September,2016.
thl EBG Secretariat moved into a new and its very own office from 25 April, 2016 in Okhla
Industrial Estate, New Delhi
l 5 new and important Sector Committee added including the latest Financial Services.
l Timely publication of the EBG's Position Paper in April, 2016. Advocacy efforts through meetings with stakeholders is on.
l Successful road shows in Delhi, Mumbai and Bengaluruorganized to present the 2016 edition of the EBG Position Paper to the Central Government and respective State Governments.
l Consolidating our working relationship with European Business Associations and Bilateral Chambers which includedorganising joint events with BBG, IFCCI etc.
l Ongoing strong engagement across all the chapters, amongst our members and Sector Committees.
All this would not have been possible without the strong support from our members, the EU Delegation, European Embassies, Government of India and the Secretariat.
Going forward, EBG aims to be a strong voice and a government interlocutor of European business in India. Growth in membership across all 4 chapters and building a strong Secretariat will remain the main objective for EBG.
You can look forward to more interactive sessions and some high profile events in the coming months with key EBG Stakeholders.
It has come to my notice that some members are not receiving event notifications. To ensure that this does not happen in the future, I request all members to please update their current corporate and personal details and send to Ms Neema Kumar at the earliest. You can write to her at [email protected].
Warm wishes for a festive and joyous season.
.
Annual EBG-BBG Dateline Delhi event -thWednesday, 10 August, 2016 at the
British Council, New Delhi
EBG-BMR conducted a Webinar on “Impact of GST on businesses in India
ston 31 August, 2016
st1 meeting of the Financial Sector thCommittee – Tuesday, 12 October, 2016
held in Home Credit's ofifce in Gurgaon
Forthcoming event:th“Wine and cheese event” on 25
November in Mumbai at Mr. Rajeev Somani’s well appointed terrace pent house overlooking the Chowpatty beach.
EBG News
EBG Events
EBG Events
EBG Updates
Current National andDelhi Council
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EU & India EBG Updates
Past :EBG members were invited by AmCham to an interactive session on “Foreign Direct Investment – Taking the Agenda Forward” on
rdWednesday, 3 August 2016 in New Delhi
Mr. Ramesh Abhishek, Secretary, DIPP addressed the participants during the inaugural session.
The inaugural session was followed by two panel discussions:
l Panel I covered the progress of reforms in FDI over a period of time and success stories.
l Panel II covered the challenges and way forward.
It was an informative and well attended event.
EBG members were invited to attend the Startup EU-India thSummit organized in Bangalore on Thursday, 20 October, 2016.
STARTUP EU-INDIA SUMMIT ("SEIS") was the first of a kind
summit bringing together the European and Indian Startup
ecosystems - Startups, Scaleups, Investors, Corporates, and
Policy Makers. SEIS explores growth and investment
opportunities and explores insights about the European and
Indian digital markets.
SEIS was organized by Startup Europe India Network, in
collaboration with the Startup Europe initiative of the European
Commission.
rdPublic Affairs Forum of India (PAFI) hosted its 3 National
Conference – “Public Affairs: Future of Advocacy & Shaping thPublic Policy” on 16 September, 2016 at India Habitat Centre,
New Delhi. EBG were a supporting organisation for this National
Conference.thAn inaugural dinner was held at 7:30 PM on Thursday, 15
September, 2016, where Mr. Amitabh Kant, CEO, NITI
Aayog addressed the gathering.Changing economic landscape for European businesses in India
including a slowdown in China.
PM Modi, an astute deal-maker and a skillful diplomat has pushed hard for foreign investments into India. FDI inflows in fiscal year 2016 were at a record high (~USD 40bn), largely on account of liberalization of foreign investment policy and strategic opening up of sensitive sectors such as Defence and Railways. The flagship 'Make in India' programme launched by the Indian Government has had commendable feedback and is expected to boost private sector participation in Indian manufacturing industry. Investments from European countries is on the rise with France spearheading as a significant investor in trade partnerships with India. The Indian Government has been keenly engaging with European countries to not only steady reforms but also develop avenues for mutual benefit and development of both sets of nations and European businesses.
The enactment of a comprehensive insolvency and bankruptcy code provides for a swifter and transparent exit to corporates and should help revive stalled infrastructure projects. New Defence procurement procedure, liberalized FDI policy for Defence manufacturing and government's pro-activeness in signing major Defence deals including the famous French Rafale deal signals positive intent for players in the Defence space. The national civil aviation policy endorsed by the Indian Government is likely to boost the untapped aerospace industry in India. The national intellectual property rights policy to some extent should address concerns of Europe Inc. Overhauled hydrocarbon exploration and licensing policy is also expected to revive the crucial oil and gas sector, which is of keen interest to European players.
From a tax policy and administration standpoint, the focus of the Indian Government has been to provide certainty and transparency in the tax regime. The Goods and Services Tax (GST) is now close to becoming a reality with possible introduction from April 1, 2017. GST has potential to boost economic growth and sort many a complexities in the implementation of indirect taxes in India, directly having a positive effect on the ease of doing business in India. The Indian Government has also delivered on its promise of refraining from retrospective tax legislation, which historically troubled European and other businesses in the past. A dispute resolution scheme was introduced in Budget 2016 for cases impacted by retrospective amendments, understood to be of benefit to Vodafone and Cairn to resolve their respective disputes. Much to the respite of taxpayers, the Indian Government also accepted some of the recommendations of the Justice Easwar (Retd.) Committee on simplification of the tax laws. All these measures are significant steps in a bid to make India an attractive investment destination.
Whilst the Indian Government continues to make efforts in certain crucial sectors to boost private investment, much is still needed to implement the policies on the ground and combat red-tapism. India presents a multitude of opportunities for European businesses across various industries and is placed well to be the preferred investment destination.
Measures to boost the idea of India as an investment destination
In summary
Mukesh ButaniPartner BMR Legal, with inputs from Sumeet Hemkar, Partner BMR & Associates LLP. Views are personal.
The NDA government under leadership of PM Modi has ushered in several economic and policy reforms at the Centre. While appeasing everyone is impossible, even the ardent of critics would agree that India has found a sweet spot on the macroeconomic front with the Indian economy growing at around 7.5 percent, with investment cycle materially revived and India continuing to be a bright spot for investments amidst global economic slowdown
EBG Collaborations
Forthcoming:
amazing speed. One can really sense the on-going economic transformation and optimism of this country.
I am impressed by the positive policy measures undertaken by the current Government under the leadership of PM Narendra Modi. Undoubtedly, the passage of the landmark Goods and Services Tax (GST) bill during the Monsoon Session of the Parliament has been one of the key developments in the last few months. Its implementation is viewed as one of the most far-reaching indirect tax reforms and is expected to benefit both domestic and global business, including EU businesses.
I would also like to emphasise our vibrant relations with India, boosted by the EU-India Summit of last March. The EU-India Agenda for action 2020 has a strong component on trade and Investment. It seeks to deepen our trade and investment relations,
both in the multilateral fora and bilaterally, through an FTA and an investment facilitation mechanism.
The Indian Government's initiatives to stimulate investment, like the 'Make in India', 'Smart Cities' and 'Clean Ganga' are excellent platforms to carry forward the important partnership between the EU and India. The EU can offer important opportunities in terms of technology-sharing and know-how, providing high level synergies in sectors where EU businesses are world leaders.
Given the Indian Government's current reform momentum, this is also an opportune time for EU businesses to put across a common position on various policy issues which can further facilitate their business operations in India. The EBG should and can play a crucial role in this regard. With more than 6000 EU companies operating in India, the EBG's role as a government interlocutor representing the interest of various EU businesses is becoming even more important.
I am very much looking forward to working together with the EBG and the EU businesses in this endeavour.
Ms Marika JakasCounsellor – Head of Trade and Economic AffairsDelegation of the European Union to India
I started as the Head of the Trade and Economic Affairs Section at the EU Delegation, very recently, on 1 September. The first month and a half have run by at an
EBG welcomes Ms Marika Jakas and wishes her thebest for her assignment in India
1. Cowi India Private Limited
2. Fast Lane Automotive Pvt. Ltd.
3. Fortum India Pvt. Ltd.
4. French Bakery
5. Hella India Automotive Pvt.Ltd.
6. Interem-International Removals Division of Freight
Systems India Pvt Ltd
7. KLM/Airfrance
8. PwC
9. RKACA Associates
10. Roedl& Partner India Pvt. Ltd.
11. TechLegis, Advocates & Solicitors
12. TMF Services India Pvt. Ltd.
13. William Grant & Sons India Pvt. Ltd.
Welcome New Members
Delhi Mumbai
Bengaluru
1. Industrial Accessories Corporation
2. DZ Bank
1. Siemens Technology and Services Pvt Ltd
2. MercuriUrval India
3. Ernst & Young Private LLP
4. Hutchinson
5. KPMG
6. Thales India
EBG members have been invited to be a part of the
International Healthy Lifestyle Symposium (HLS) in New Delhi
on November 22, 2016 at the India Habitat Centre, New Delhi.
(Time: 9 am to 6 pm).
The HLS is being organised for the first time in India by 24 alife
with European Union, Government of Slovenia and support
from EBG Federation and All India Management Association.
At HLS, the topic of Wellbeing at Workplace: Ideas for India will
outline how companies across the world and in India are
benefiting by enhancing the quality of life of their employees.
Experts from global bodies like Mayo Clinic, University of Graz,
University of Ljubljana will join corporate leaders from India to
share experiences and identify new ideas to ensure that
industry powers ahead with healthy and happy teams.
HLS will include master classes by specialists and learnings
from senior practitioners.
A detailed invitation has been sent to Members.
thGovernment of Gujarat is organizing 8 Mega Investment
from January 10 - 13 2017 at Mahatma Mandir, Gandhinagar,
Gujarat. As a part of this ummit, a Curtain Raiser & Interactive
Session at 11 am on November 4, 2016 at Darbar Hall, Hotel Taj
Palace, New Delhi is being organised. Hon'ble Chief Minister
of Gujarat and Hon'ble Minister of State of Industries, Mines
and Minerals & Finance accompanied by senior officials from
the State Government of Gujarat will remain present and
address the meet and interact with the delegates.
A detailed invitation has been sent to Members.
Vibrant Gujarat Summit 2017
,
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EBG News
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EBG’s Financial Services Sector Committee set up
Rajeeb Ranjan MallickChairman, Financial Services Sector CommitteeChief Corporate Affairs Officer, Home Credit India
thI am indeed happy to learn that, this is EBG's 18 Sector Committee of EBG, one more step by EBG in support of its members, whose numbers are also growing, an indication that European businesses find India an attractive destination to do business in.
Services sector play a dominant role in most economies around the world and is also one of the largest employer. Also, capital infusion in terms of land and machinery, that is required for a manufacturing enterprise, is not a prerequisite for the services sector, but calls for a lot in terms of human capital and the relevant skill sets.
It gives me immense pleasure to announce the holding of the first meeting of the newly formed 'Financial Services' Sector Committee of the EBG Federation (EBG) in India. I feel happy that TMF Services India Private Limited (a TMF Group Company) have agreed to be the knowledge partner to this committee. Their global expertise and rich experience congregated from across their multi-national operations would infuse great learning and certainly help the committee in preparing meticulous argument to be put before the policy makers.
st1 meeting of the Financial Sector Committee –thTuesday, 12 October, 2016
The Indian Services Sector has attracted highest amount of equity flows in the period April 2000- March 2016, amounting to US$ 50.79 Billion which is about 17.6 per cent of the total inflows, according the Department of Industrial Policy & Promotion, Ministry of Commerce & Industry.
In India, approximately 66% of the country's economy consists of the contribution from the services sector, and out of the overall services sector, the sub-sector comprising financial services, real estate and other professional services contributed US$ 305.80 Billion or 20.5 percent to the GDP.
The presence of a vibrant, buoyant and strong 'services sector' in any economy drives and propels growth in the manufacturing sector, creating direct as well as indirect employment and helps in developing requisite skill-sets among young professionals.
I am sure that with the support of the current Members in the sector committee - BMW Financial Services, Devere Group, Apollo Munich, its knowledge partner TMF Group and EBG's guidance, this committee will be able to deliver the expected objectives, build reputation for EBG and its members, and work effectively for achieving the common expectations of the members on deliverables.
thWe agreed in our first meeting held on12 October, 2016, to hold at least six meetings annually, listing down the priorities, preparing a stake-holder matrix & management map for the year.
I invite valuable suggestions of all other EBG members, who might find it interesting to join this committee towards achieving the common objectives. You can write to Neema S Kumar at [email protected] or call her at +91 9811418874.
Thank youThank youMr Kapil Dhalla working with EBG Federation has decided to move on.
We thank Kapil for all his support and wish him all the very best in his
new assignment. His replacement and an addition to the Secretariat
Mr. Sanjeev Varma former CEO of Steria, S. A. takes over as the chairperson of the SME chapter effective October 1st 2016. This is a significant initiative undertaken by EBG to promote, develop and engage with the European Small and Medium
Enterprises (SMEs) which have or are looking to set up an effective presence in India. Mr Varma’s global experience and understanding of this space will be key to the success of this endeavour.In the next few months Mr Varma will be reaching out to the other chapter heads to look at and brainstorm on the manner in which this could be propogated. We request you to please extend the help and co-operation as we attempt to enroll new organizations and make this chapter truly representative of the SMEs.
EBG thanks all its supporters
th EBG Federation’s First AGM held on Friday, 30September, 2016 in Delhi. T R Chadha & Co. LLP Chartered Accountants have been appointed as the statutory auditors for EBG Federation till the next AGM.
Mrs. Rekha Khanna Chairperson, Delhi ChapterbioMerieux India Pvt. Ltd.
Mr Julian M Bevis
A.P. Moller-Maersk GroupDelhi Council Member
Mr Nick Parker
Virgin Atlantic Airways Ltd, Delhi Council Member
Mr Manod JinnuriDelhi Council Member
SAAB India Technologies Pvt. Ltd.
Mr Pradeep Agarwala stepped down from the National and Delhi Council on his retirement from Pernod Ricard.
There have been changes in the Delhi Council as well. Mr Julian Bevis, Maersk Group, Mr Nick Parker, Virgin Atlantic and
Mr Manod Jinnuri, SAAB Group have joined the Delhi Council. Mr P Balaji, Vodafone; Mr Jacob Rose, Fontana Fastners and
Mr Mohan M Kakde, Rohde & Schwarz India Private Limited stepped down from the Delhi Council as they were unable to devote
time to the Council activities.
The Mumbai Council remains the same. We foresee some changes in the Bangalore and Chennai Council which will be informed as soon as it is finalized.
Rajnish SinghVice Chairman, Delhi ChapterMoet Hennessy India Pvt. Ltd.
Sudhir Narang
BT India Pvt. Ltd.Delhi Council Member
Mr. Rajiv Dhawan Delhi Council Member
Alexander Hughes
Ms. Payal Singh
AGS Fourwinds India Pvt. Ltd.Delhi Council Member
Mr Michael BergerChairman, Chennai Chapter &
National Council Member Dürr India Private Limited
Mr. Antonio FasanoNational & Mumbai Council Member
RELATIONSATWORK India Advisory Pvt. Ltd.
Mr. Peter BornNational & Mumbai Council Member
Commerzbank AG
Ms.Anandi V IyerChairperson, Bangalore Chapter &
National Council memberFraunhofer Office India
The present Delhi Council Members are:
The present National Council Members are:
Mr. Raman Sidhu, FCAIndia Chairman
Sr. Advisor - Stanton Chase Intl &TMF - Group
Current National and Delhi Council
4 5
EBG Events
Recap of EBG events in 2016
EBG meeting with Mr Deepak Parekh, Chairman, HDFC Limited –thWednesday, 13 January, 2016 at the Taj Mahal Hotel, New Delhi
EBG members met Mr Roberto Cecutti, Desk officer for India,thDirectorate General – Trade, European Commission - Tuesday, 19
January, 2016 in the EU Delegation office in New Delhi
stWelcome 2016 party - Sunday, 31 January, 2016 at Ccaza Ccomodore in Mandwa
thEBG-IFCCI Pre Budget panel discussion Thursday, 18 February,2016 at the French Embassy, New Delhi
EBG Federation, Mumbai Chapter organised a “Post Budget Analysis” meeting in association with BMR Advisors on Wednesday, 2nd March, 2016 at the “Golden Room”, Taj Mahal Hotel, Mumbai.Ms. Rajeshree Sabnavis, Partner, BMR Advisors & Mr. Kaustuv Sen, Senior Member, BMR Advisors presented the Post Budget analysis.
Recap of EBG events in 2016
thRelease of the 2016 edition of the EBG Position Paper – 4 May,2016at the Taj Mahal Palace, Mumbai. (Released by Shri Subhash Desai,
the Minister for Industries & Mining, Government of Maharashtra)
thRelease of the 2016 edition of the EBG Position Paper - 19 April, 2016,
Taj Mahal Hotel, New Delhi
Michelin-EBG-IRF joint event: Panel discussion on 'Responsible RoadthBehaviour' – 20 April, 2016, New Delhi.
Annual EBG-BBG Dateline Delhi event where a panel of eminent speakersth answered questions on current affairs -Wednesday, 10 August, 2016
at the British Council, New Delhi
EBG's Post Budget event with BMR Advisors - Wednesday,nd2 March, 2016 at the Royal Plaza, New Delhi Union Budget Analysis Meeting in Bangalore - Friday, 4th March, 2016
thRelease of the 2016 edition of the EBG Position Paper – 8 July, 2016at the Ritz-Carlton, Bengaluru (Released by the Karnataka Industry
Minister, Mr. R V Deshpande)
EBG-BT Breakfast Session with Mr Kevin Taylor, Mr Kevin Taylor, President,Asia, Middle East, Africa& Turkey, BT Global Services Tuesday,
15th March, 2016 at Le Meridien, New Delhi
thRelease of the 2016 edition of the EBG Position Paper 19 April,2016, Taj Mahal Hotel, New Delhi (Released by Shri Manoj Sinha,
currently Minister of State for Communications (IC); H.E Mr. TomaszKozlowski, EU Ambassador & Shri Amitabh Kant, CEO, Niti Aayog)
EBG Events
EBG & BMR conducted a webinar on “Impact of GSTston businesses in India on 31 August, 2016
