CHAMBER VOICE JULY & AUGUST 2024

President’s Letter

Dear Members,

India today stands at the cusp of transformative growth, driven by strategic investments, robust economic policies, and an unwavering commitment to sustainability, we are witnessing a nation poised to become a global economic powerhouse.

India is experiencing a significant rise in foreign direct investment (FDI), particularly in the green energy sector, which is aiding the nation’s efforts to reduce its carbon footprint and move towards sustainable development. The country’s GDP growth rate is expected to reach 6.1% for the year, propelled by strong domestic demand, increased industrial output, and a flourishing services sector. The government’s fiscal discipline has also resulted in a projected fiscal deficit reduction to 5.7% of GDP. Additionally, India’s contributions to global growth have been noteworthy, with exports rising, particularly in IT, pharmaceuticals, and textiles, reinforcing the nation’s economic resilience.

Digitalization and infrastructure development, including the Bharatmala highway program and the Smart Cities Mission, plays a crucial role in sustaining this growth. The country’s commitment to environmental sustainability is evident in initiatives such as Mission LIFE (Lifestyle for Environment) and the Green Hydrogen initiative. Overall, India’s ambition to become the world’s third-largest economy within the next five years appears increasingly achievable, supported by these robust economic policies and strategic initiatives.

The Union Budget 2024 introduced several positive measures aimed at boosting India’s economy, particularly through infrastructure projects including highways, railways, and urban development, which are expected to enhance connectivity and stimulate economic growth. Tax reforms were also introduced to simplify compliance, particularly for individuals and small businesses, including a streamlined income tax return process and rationalization of tax rates. The government has prioritized green growth, with increased funding for renewable energy projects and incentives for companies adopting sustainable practices.

During the Paris 2024 Olympics, India won six medals, including one silver and five bronze. Although the nation missed out on potential medals in several other events, India’s performance at the Paris 2024 Olympics was commendable, highlighting the country’s growing strength in various sports disciplines.

Coming to our home state Kerala, Health care sector have come up with healthcare model, particularly its effective management of infectious diseases and robust primary healthcare system, received international acclaim. Delegates from WHO visited the state to study its healthcare practices, which are now being considered for replication in other regions. Several startups from Kerala also received national and international recognition for their innovative solutions in sectors such as fintech, healthcare, and education, with the Kerala Startup Mission playing a crucial role in supporting these startups through funding, mentorship, and incubation.

Regarding Chamber activities, The Economic Times, in association with The Cochin Chamber of Commerce & Industry, conducted an MSME Conference on “Building a Stronger Future Together.”

The Cochin Chamber of Commerce & Industry, along with the Rotary Club of Cochin West and the Kerala Steamer Agents Association, successfully organized a Blood Donation Camp on July 17, 2024, at the Cochin Port Hospital. The event was inaugurated by Shri Gurkaran Singh Bains IRS, Commissioner of Customs House Cochin.

At the CEO Forum Breakfast Meeting we had the honor of hosting Adv. Manju A B, Associate Partner at Altacit Global, as the guest speaker. She shared her expertise on “Commercializing Intellectual Property: Strategies for Business Success,” providing invaluable insights into leveraging IP rights for business growth. We extend our sincere thanks to Adv. Manju for her presentation and to all members who participated, as we continue to drive innovation and success together.

The Cochin Chamber of Commerce & Industry, in collaboration with the Kerala Management Association, conducted a session on the Union Budget 2024-25 on July 24, offering an in-depth analysis of the budget and its implications for the business and economic landscape of our country. We had the privilege of hosting two renowned speakers as the chief guests: T.K. Arun, Columnist & Commentator and Former Editor of The Economic Times, New Delhi, and Seshadri P R, Managing Director & CEO of South Indian Bank.

The Cochin Chamber of Commerce & Industry facilitated the live streaming of Hon’ble Prime Minister Shri Narendra Modi Ji’s address at the “Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference,” organized by the Confederation of Indian Industry on July 30, 2024, in New Delhi. The session reflected on India’s progress over the past decade and outlined a vision for future growth.

The Cochin Chamber of Commerce & Industry, in collaboration with the Consortium of Women Entrepreneurs of India (CWEI) , the United States Patent and Trademark Office, and the Kerala Start-Up Mission, successfully hosted the Kerala State Conference on Intellectual Property Rights on August 8, 2024. We were honored to have Mr. John Cabeca, United States Intellectual Property Counsellor for South Asia, as the chief guest, alongside distinguished speakers from DPIIT, Rubber Board, NSIC, and various other organizations.

At the CEO Forum Breakfast Meeting on August 23, 2024, M.G. Ramakrishnan, Past President of Varapetty Cooperative Bank and Coordinator of the Value Added Production Exporting Council, addressed the audience on the “Importance of Value-Added Products and Their Export Opportunities.” The session, attended by over 30 CEOs and industry leaders, explored strategies for leveraging export potential and driving innovation in the cooperative sector.

Wishing you all the very best and assuring you of the Chamber’s best services at all times.

Anand Venkitraman

Recent Union Cabinet Decisions

Recent Events

MSME Conclave: Building a Stronger Future Together : 11th July 2024 : Hotel Radisson Blu: Cochin

The Chamber in association with Times of India organised a conference on “Building a Stronger Future Together” on Thursday, the 11th July 2024 at Radisson Blu, Cochin. Shri. Kochouseph Chittilappilly, the Founder and Chairman of V-Guard Industries was the Chief Guest. The conclave was an attempt to deliberate on the challenges faced by MSMEs, considered to be the backbone of the economy. During his keynote address Shri. Chittilappilly advised entrepreneurs to take their own calls with regards to their establishment, because entrepreneurs are likely to know their product and business the best. 

The first panel discussion focussed on govt schemes and subsidies for MSMEs, Shri. A. Gopalakrishnan, Senior Partner of K Venkatachalam Aiyer and Co. was the moderator for the discussion, Mr. Shaju Raphel of SIDBI (Kochi); Ms. Grace Reji from NSIC and Mr. Santhosh Kumar of SBI were the panelists.

The Second Panel discussion which was moderated by Varma & Varma senior partner, Shri. Vijay Krishna Govind focussed on the issues and challenges of MSMEs with respect to the Compliance, IPR and Labour laws. Adv. P M Prabhakaran, Partner, Lakshmi Kumaran & Sridharan Attorneys; Adv. Manju A B, Associate Partner of Altacit Global and Adv. Pradeep Joy, Principal Counsel of P J Law Office were the panelists.

 The event also featured a Masterclass on the digital invoice discounting system TReDS, wherein Mr. Joseph Annapalli, Director of M1xchange was the speaker.Mr. Jiby Chacko, the Chief Manager of The Times of India.  Delivered the vote of Thanks.

Blood Donation Camp : 17th July 2024 : Cochin Port Hospital, Willingdon Island, Ernakulam

The Cochin Chamber in association with the Kerala Steamer Agents Association, the Rotary Club of Cochin (West) and Ernakulam General Hospital organised a Blood Donation Camp at the Cochin Port Hospital, Willingdon Island, Ernakulam on Wednesday, 17th July 2024. This noble initiative aimed to address the ongoing need for blood donations while fostering a sense of unity and shared responsibility among the public.

The event witnessed the gracious presence of esteemed dignitaries, including Shri. Gurkaran Singh Bains IRS, Commissioner of Cochin Customs who graced the occasion as the Chief Guest and inaugurated the drive by lighting a traditional lamp.

Shri. S P Kamath, Vice President of the Chamber welcomed the gathering and Shri. Prakash Iyer, Executive Committee Member of the Chamber while delivering the vote of thanks

CEO Forum Breakfast Meeting : 19th July 2024: Hotel Le Meridien, Cochin

The Ninth Edition of CEO Forum Breakfast Meeting for the month of  July held on Friday, 19th  of July 2024 at Hotel Le Meridien (Maradu), Cochin. Ms. Manju A.B, Associate Partner, Altacit Global was the guest speaker. Ms. Manju, delivered a lecture on the topic: Commercializing Intellectual Property: Strategies for Business Success”.

“Analysis of the Union Budget 2024 and its Implications for the Business and Economic Landscape of our Country”: 24th July 2024 : Hotel Radisson Blu: Cochin

The Cochin Chamber and the Kerala Management Association jointly organised a session on “Analysis of the Union Budget 2024 and Its Implications for the Business and Economic Landscape of our Country” on Wednesday, 24th July 2024 at Hotel Radisson Blu, Cochin.

The Guest Speakers were Shri. T K Arun, Independent Columnist & Former Editor of The Economic Times (New Delhi) and Shri. P. R. Seshadiri, Managing Director & CEO of The South Indian Bank Ltd. Shri. Venkitraman Anand, President of the Cochin Chamber delivered the Welcome Address whereas the Vote of Thanks delivered by Shri. Bibu Punnooran, President of the Kerala Management Associatio and the Executive Committee Member of the Cochin Chamber.

Webinar/Outreach programme on the Topic  “Recommendations of 53rd  GST Council Meeting – An Overview” : 24th July 2024

The Directorate General of Tax Payers, CBIT & Customs (Bangalore Zonal Unit) in association with Cochin Chamber organised a webinar on “RECOMMENDATIONS of 53rd GST COUNCIL MEETING – An Overview” on Wednesday 24th July 2024. The Presentation was done by Shri. Rachana, I.R.S., Joint Director, DGTS, BZU. Shri. Prakash Iyer, Executive Committee Member of the Chamber delivered the Vote of Thanks on this occasion.

Journey towars Viksit Bharat: A Post Union Budget 2024-25 Virtual Conference: 30th July 2024

The Cochin Chamber of Commerce & Industry facilitated the live streaming of Hon’ble Prime Minister, Shri Narendra Modi Ji at “Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference” organised by Confederation of Indian Industry on 30th July 2024 at 1200 hrs in New Delhi.

Kerala State Conference on Intellectual Property Rights : 08th August 2024 at Kerala Start-up Mission, HMT Colony, Kalamassery, Ernakulam

The Cochin Chamber of Commerce & Industry in collaboration with Consortium of Women Entrepreneurs of India (CWEI) and The United States Patent and Trademark Office (USPTO) organized the” Kerala State Conference on Intellectual Property Rights – Focusing on Entrepreneurial Growth” on 08thof August 2024 at Kerala Start-up Mission, HMT Colony, Kalamassery, Ernakulam.The purpose of this initiative is to bring in more Women into the business and to make them understand the importance of IPR in Entrepreneurship.

Shri. Simran Kaur, Director, DPIIT, Ministry of Commerce, GoI addressed the audience, and discussed about the IPR National Policy and its relevance in Entrepreneurship.Chamber President Shri. Venkitraman Anand, delivered the Special Address, whereas Mr. John Cabeca, United States Intellectual Property Counselor for South Asia delivered the keynote address. Dr. Shashi Singh, Chairperson of CWEI also spoke on this occasion.

The other Speakers who addressed the audience includes :- Dr R Bhanumathi, Deputy Controller of Patents & Designs; Dr S Sivakumar, Asst. Registrar of TM & GI; Ms. Shilpi Jha, Senior IPR Policy advisor for South Asia at USPTO; Dr. Ambily K K, Scientist, Rubber Research Institute of India, Rubber Board; Ms. Grace Reji from NSIC, Mr. Rajesh T K , General Manager, Sargaalaya Kerala Arts & Crafts Village, Kozhikode; Father Ebenezer Anthony, Kottapuram Integrated Development Society – KIDS (Kodungallur); and Ms. Sandra Agnes D’Souza, Director South, JD Institute of Fashion Technology (Kochi). 

Apart from the Seminar there more than 40 plus products had been exhibited which includes Handlooms & Food Products. Finally, there was a Design Show organised by JD Institute of Fashion Technology, Kochi.

CEO Forum Breakfast Meeting : 23rd  August 2024: Hotel Le Meridien, Cochin

The Ninth Edition of CEO Forum Breakfast Meeting for the month of  August held on Friday, 23rd August 2024 at Hotel Le Meridien (Maradu), Cochin. Shri M.G Ramakrishnan Past President Varapetty Service Cooperative Bank & Value-Added Production Exporting Council Coordinator was the guest speaker. Shri M.G Ramakrishnan delivered a lecture on the topic: “Importance of Value-added Products and its Export Opportunities”.

Exclusive EXIM Statistics

Statistical Reports on Exports and Imports through the Cochin Port.

The Cochin Chamber of Commerce and Industry publishes statistical reports on Exports and Imports through the Cochin Port on a monthly basis followed by a Consolidated Annual Report at the end of each calendar year. The reports on exports are classified as commodity wise and pertain to the following commodities:

  • Coffee
  • Tea
  • Spices
  • Cashews
  • Cotton Goods
  • Seafood and
  • Coir and coir products

Details on all other commodities that do not fall under the above-mentioned heads are carried as the ‘Miscellaneous Report’. Customized reports will also be available according to customers requirement.

We have several members in the export/import fraternity subscribing to these reports on a monthly basis and from the feedback received they are immensely benefited by the same.

We are confident that our reports will be of help to your Company in staying one step ahead of your competitors in business. A sample of the report is attached herewith for your reference. Also attached is the ‘Subscription Form’ to enable you to subscribe to the report should you want to do so.

Should you have any queries please feel free to contact Mr. T.M. Padbhanabhan (0484 2668349).