Bombay Chamber Review - October 2021

For Private Circulation only




For Private Circulation only

BOMBAY CHAMBER REVIEW Vol. XVII No. 5 4 August 2021 Vol. XVII No. October 2021 PROFIT Business Aceelerator Programme for Internatiolisation of SMEs

For Private Circulation only


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IP telep cation uni Comm s tion Solu V art A Sm IP sur Netw Secur orking & ity So lution s g erencin o Conf s Vide n Solutio enter Data C cture tru Infras veilla n ce Hea Hosp lthcare & itality Soluti ons Innovative Ideas that work for our customer 24x7 Progility is a mul�-domain, system integrator of choice for majority of the large, medium and leading enterprises, to design, deploy and maintain their cri�cal communica�on solu�ons 24x7 with a highly skilled field force deployed across the country that is backed up by state of the art Remote support center round the clock. Opera�ng with 4 robust pillars of being innova�ve, flexible, responsive & customer focused, drives our passion to see every project from concept to realiza�on For enquiries +91 11 4288 5508 or india@progilitytech.com Registered office: 1001, 10th Floor, Lodha Supremus, Wing - E, I Think Techno Campus, Kanjurmarg (East), Mumbai - 400 042 Our Reach Ahmedabad I Aurangabad I Bengaluru I Bhopal I Bhubaneswar I Chandigarh I Chennai I Cochin I Coimbatore I Dehradun Delhi I Goa I Gurgaon I Guwahati I Hyderabad I Jaipur I Jammu I Kolkata I Kota I Lucknow I Madurai I Mumbai I Nagpur Patna I Pune I Raipur I Ranchi I Vadodara I Vijayawada IVisakhapatnam www.progilitytech.com Innovative | Flexible | Responsive | Customer Focused

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Contents

Vol. XVII No. 5 October 2021 6-7 8-13 15 16 17 18 Bombay Chamber 185th AGM Board of Directors 2021-22 ♦ Growing Businesses Through International Trade & Investment ♦ Session on ‘Finance’ ♦ Trade Mission PROFIT Business Accelerator Programme for Internationalisation of SMEs ♦ Market Linkages for FPO's in Odisha through NeML ♦ Social Media and its importance to FPO ♦ Preparing for FDI ♦ Business masterclass with Mr. Viraj Kulkarni on Cross Border Investments with reference to India and the GMS 22 23 24 ♦ Preparing for International Trade The Potential for A Third Wave: Scenarios & Policy Imperatives 26 Economic Outlook Survey- July, 2021 Finance Analytics 19 Frictionless Service and Delightful Customer Experience in BFSI Sector. 25 ♦ How to Enhance Productivity at Workplace ♦ Lead Management in Sales Cyber Security, Network & Web Application Security 27 ♦ International Trade for Aspiring Exporters ♦ Detailed analysis of allocation of RoDTEP and its Impact ♦ Government Notifications / Orders 28 29 30 31 33 33-34 36-38 35&38 New Age Leadership ♦ GST - Policy Agenda ♦ Financial Reporting Key Considerations 34 Handling Difficult Conversations Editorial Team - Mr. Sandeep Khosla, Director General - Mr. Sunil Nair, Joint Director - Ms. Suchita Rale, Manager 35 Fast-Charge your LinkedIn Profile Published and Printed by Bombay Chamber of Commerce and Industry Admin.Office : The Ruby, 4th Floor, N.W., Senapati Bapat Marg, 29, (Tulsi Pipe Road), Dadar (W), Mumbai 400 028. Tel. 022-6120 0200 I Fax. 022-6120 0213 www.bombaychamber.com Regulatory Architecture of ESOPS Becoming a World Class Leader Special Feature Role of AI in Fintech ERP Integrations for the Seamless Data Flow The Power of Networking Membership Change of Name Regd. Office : Mackinnon Mackenzie Building, 3rd Floor, Ballard Estate, Mumbai 400 001. Tel. 022-4910 0200 I Fax. 022-4910 0213 Note : General articles published in this Review do not necessarily reflect the view of the Bombay Chamber of Commerce and Industry. Design and Printed at : Uchitha Graphic Printers Pvt. Ltd.

Contents

Bombay Chamber 185th AGM

Transforming India through Public Digital Infrastructure Presidential Address by Mr. Sudhir Kapadia President, Bombay Chamber & Partner & National Tax Leader, Ernst & Young LLP Mission Statement By Ms. Anjali Bansal President-Designate, Bombay Chamber & Founder, Avaana Capital Bombay Chamber of Commerce and Industry organized its 185th Annual General Meeting with Mr. Nandan Nilekani as Keynote Speaker. August 23, 2021, Mumbai: With COVID-19 norms in place, the Bombay Chamber of Commerce and Industry conducted its 185th Annual General Meeting virtually. The meeting was led by Mr. Sudhir Kapadia, President, Bombay Chamber & Partner & National Tax Leader, Ernst & Young. Ms. Anjali Bansal, New President, Bombay Chamber & Founder of Avaana Capital and former Chairperson of Dena Bank, Mr. Nilesh Shah, Sr. Vice President, Bombay Chamber & Group President & Managing Director, Kotak Mahindra Asset Management Company and Guest Speaker, Mr. Nandan Nilekani. Co-Founder and Chairman of Infosys and Founding Chairman UIDAI (Aadhaar). The topic in focus during the entire meet was on transforming India through public digital infrastructure. Mr. Sandeep Khosla, Director General, welcomed everyone and made an opening statement. Keynote Address on "Transforming India through Public Digital Infrastructure" Mr. Nandan Nilekani Co-founder and Chairman, Infosys & Founding Chairman UIDAI (Aadhaar) Vote of Thanks by Mr. Nilesh Shah Sr. Vice President-Designate, Bombay Chamber & Group President & MD, Kotak Mahindra AMC 6 Bombay Chamber Review In his Presidential Address, Mr. Sudhir Kapadia spoke on the Chamber's achievements in the previous year. The achievements included dealing with COVID control measures, particularly immunising large parts of the Indian population. Some of the Chamber's suggestions for communication strategy and increasing coverage have been accepted by the Indian Government. The Chamber also submitted its recommendations to the Finance Minister under Chamber's Pre-Budget Memorandum for FY-22. Bombay Chamber also conducted a third round of Economic Outlook Survey amongst its members in July 2020 for 2020-21. He also touched upon the various events and sessions held by Bombay Chambers. In her mission statement, Ms. Anjali Bansal, New President, Bombay Chamber spoke on how COVID-19 accelerated the adoption of digital strategies across the nation. Her mission statement focused on four key elements:

Bombay Chamber 185th AGM

- Sustainable economic growth while balancing it with

climate change - Ease of doing business - Unlocking the potential powerhouse of women and integrating into economy building initiatives - Mumbai 4.0 – where digital strategies fill gaps in the economy In his keynote "Transforming India through Public Digital Infrastructure." Mr. Nandan Nilekani, Cofounder and Chairman, Infosys & Founding Chairman UIDAI (Aadhaar) spoke about how India's digital infrastructure has been essential to the nation in recent years and is continuously growing from strength to strength. For example, Aadhar which helped the nation massively during the pandemic. Another outstanding accomplishment was UPI which started in 2016 and has grown to 3 billion transactions per month - within just five years. Mr. Nilekani said that one can't survive without a digital strategy and offered some insight into the next big thing: Data Empowerment and Protection Architecture (DEPA). This account aggregator model will enable SMEs to get loans by offering their data as collateral for financial assistance. He believes this model will help the economy recover from economic pandemic using information as collateral. Mr. Nilekani also spoke on the importance of interoperability in digital infrastructure. Interoperability is critical for governments to provide a foundation that allows private innovations to flourish. This will help accelerate growth into India's digitally connected future. The event ended with Mr. Nilesh Shah offering a vote of thanks. About Bombay Chamber: Established in 1836, The Bombay Chamber of Commerce is one of India's oldest and most prestigious Chambers. With a history that spans 185 years, it has always served as an advocate for trade and industry. The Chamber is well known for its longevity and impeccable lineage. The Chamber's role in shaping Trade, Commerce & Industry of the city and the region is of particular significance. October 2021 7

-	 Sustainable economic growth while balancing it with

Board of Directors: 2021-22

PRESIDENT Directors Ms. Anjali Bansal Founder Avaana Capital Mr. Aksh Rohatgi A njali Bansal is the Founder of Avaana Capital, investing in innovation-led start-ups that create transformational impact at scale while delivering commercial returns. Previously, Anjali has been the Chairperson of Dena Bank and Global Partner and MD with TPG Growth PE. She started her career as a strategy consultant with McKinsey and Co. in New York. Anjali has invested in and mentored various successful start-ups including Delhivery, Urban Company, Darwinbox, Nykaa and Lenskart. She is closely associated with NITI Aayog’s Women Entrepreneurship Platform and Digital Solutions and is on the Expert Advisory Committee for the Start Up India Seed Fund Scheme. Anjali is a member of the Steering Committee advising the government on Open Network for Digital Commerce (ONDC). She also serves as an independent non-executive director on several leading boards including Tata Power, Kotak AMC, and Piramal Enterprises. She has been appointed as President, Bombay Chamber of Commerce and Industry, and serves on the CII National Committee on Corporate Governance. CEO & Country Manager ISS Facility Services India Pvt. Ltd. Mr. Anil Radhakrishnan Director, Co Founder Accex Supply Chain & Warehousing Pvt. Ltd. Mr. Apurva Diwanji Senior Partner Desai & Diwanji SENIOR VICE PRESIDENT Mr. Nilesh Shah Group President & MD Kotak Mahindra AMC Mr. Krishnamohan Narayan Nilesh Shah is Group President and Managing Director of Kotak Managing Director BASF India Ltd. Mahindra Asset Management Company Limited. Nilesh was part of the team that has received the Best Fund House of the Year Award at all the mutual funds where he worked viz. Kotak MF, ICICI Prudential and Franklin Templeton over last three decades. Nilesh is Chairman of Association of Mutual Fund in India (AMFI), Member of Mutual Fund Advisory Committee (MFAC) and a part time member of the Economic Advisory Council to the Prime Minister. Nilesh was featured in Top 50 People of India by India Today for CY 20. 8 Bombay Chamber Review Ms. Pinky Mehta Director, Aditya Birla Sunlife Insurance Co. Ltd.

Board of Directors: 2021-22

Mr. Parameswaran Ramakrishnan

Vice President - Corporate Accounts & Head Investor Relations Larsen & Toubro Limited Mr. Yezdi Nagporewalla Partner BSR & Co. LLP Mr. Ritesh Tiwari (w.e.f. October 2021) Mr. Rizwan Soomar Executive Director, Finance & IT and Chief Financial Officer Hindustan Unilever Ltd. CEO & Managing Director Hindustan Ports Pvt. Ltd. Mr. Zarir Langrana Mr. Zhooben Bhiwandiwala Executive Director and President Global Chemicals Business, Tata Chemicals Ltd. President - Mahindra Partners and Group Legal, Member of Group Executive Board Mahindra & Mahindra Limited Invitees Mr. Amit Sarda Director PT Invent India Pvt. Ltd. Mr. Bharat Vasani Partner Cyril Amarchand Mangaldas Mr. Asit Bhatia (w.e.f. October 2021) MD/ Co-head Investment Banking, India Bank of America Chairman Seahorse Ship Agencies Pvt. Ltd. Mr. George Varghese Mr. Hemant Tawde CEO & Wholetime Director, The Indian Express [P] Ltd. Capt. Avinash Batra Director Revti Industries Pvt. Ltd. October 2021 9

Mr. Parameswaran Ramakrishnan



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