CHAMBER VOICE- SEP & OCT 2024

President’s Message

From advancements in science and technology to achievements in sports and impactful social initiatives, India demonstrates its commitment to progress, resilience, and innovation.

The Indian Space Research Organisation (ISRO) launched the Gaganyaan test mission in October, advancing India’s manned spaceflight program. With successful tests of crew escape and recovery systems, ISRO has brought the dream of human space travel closer than ever for India.

Exports across various sectors have shown a steady upward trend, reflecting the country’s growing competitiveness in global markets. In the April-October 2024 period, merchandise exports totalled around $240 billion, representing an approximate 7% year-on-year increase. Key drivers include refined petroleum products, pharmaceuticals, textiles, and agricultural commodities. Petroleum exports, which account for a significant share, grew due to rising global energy demand, while pharmaceutical exports expanded by around 9%, bolstered by the strong reputation of Indian generics and vaccines. The engineering goods sector, including machinery and auto components, also saw robust growth, particularly in markets like the U.S. and Europe. Agricultural exports, especially rice, spices, and marine products, performed well due to high demand in Asia and Africa. In services, IT exports continued to thrive, driven by global digital transformation and demand for outsourcing. Government incentives under various schemes and a focus on manufacturing and export promotion have supported this growth. India aims to reach $500 billion in annual exports by focusing on diversification and tapping into new markets.

India inaugurated one of the largest solar power plants in Rajasthan, marking a strong commitment to renewable energy. The plant is projected to reduce carbon emissions by several million tons annually, reinforcing India’s position as a leader in global sustainability.

The rollout of Digital Health IDs across India is enhancing accessibility to healthcare records and streamlining the healthcare process for millions. This initiative aims to benefit both patients and healthcare providers alike.

India’s automobile industry has experienced significant growth recently, driven largely by a 26% surge in festive season sales in October 2024. Goods and Services Tax (GST) collections reached ₹1.87 lakh crore, marking an 8.9% increase from the previous month. This is the second-highest monthly GST collection, following a record of ₹2.1 lakh crore in April. Domestic collections rose by 10.6% to ₹1.42 lakh crore, while import collections increased by 3.9% to ₹45,000 crore.

The government announced a new credit scheme for MSMEs, providing easier access to finance for small businesses. This initiative is expected to empower entrepreneurs, create jobs, and spur economic growth in the coming months.

Indian athletes shone at the Asian Games in Hangzhou, China, bringing home a historic number of medals in athletics, wrestling, archery, and badminton. With over 100 medals, India surpassed its previous records, underscoring the nation’s growing prowess in sports on the international stage.

Focusing on home state of Kerala, it led in growth with a 20% increase in GST collections. The strong GST numbers indicate economic activity, but concerns remain over slowing consumption and international trade. The impact of the festive season on collections and consumer demand, particularly in the auto sector, is an important factor to watch in the short term. Kerala also witnessed significant positive developments, particularly highlighted by the Kerala Travel Mart (KTM) 2024, which took place from September 26 to 29 in Kochi. This event set a record with 2,839 buyers from 76 countries and over 75,000 B2B meetings, emphasizing the state’s ambition to become a global hub for wellness tourism. In 2023, Kerala experienced a 15.92% rise in domestic tourist arrivals, totalling approximately 2.18 crores, showcasing a robust recovery in tourism. ‘Anubhavam’ a beneficiary-focused system in Kerala’s agricultural sector. This QR code-based feedback mechanism aims to gather feedback from agricultural stakeholders, including farmers and visitors to agricultural sites (krishi bhavans), to improve their happiness and satisfaction

Regarding chamber activities, on September 28, 2024, the Chamber conducted a factory visit to Western Polyflex’s facility in Cherthala, highlighting its commitment to fostering connections among industry leaders and promoting innovation in the flexible packaging sector. This engagement allows the Chamber to remain at the forefront of advancements and support growth within the local business community.

Additionally, during the Chamber’s Monthly CEO Forum Breakfast Meeting on September 20, 2024, Shri Lokanath Behera (IPS Retd.), Managing Director of Kochi Metro Rail Ltd. and Kochi Water Metro, addressed important issues regarding urban infrastructure development and traffic management in Kochi. His insights underscored potential solutions to improve the city’s traffic flow and infrastructure.

Furthermore, the 9th Edition of the Dr. A.P.J. Abdul Kalam Memorial Lecture took place on October 18, 2024, featuring Shri C.B. Kartha, Former Deputy Director & Controller of the Vikram Sarabhai Space Centre, as the chief guest. He discussed challenges related to manned space missions, offering valuable insights that aim to inspire future innovations in India’s space exploration efforts.

Recent Union Cabinet Decisions

Recent Events

CEO Forum Breakfast Meeting : 20th September 2024 : Hotel Le Meridien, Cochin

The Ninth Edition of CEO Forum Breakfast Meeting for the month of  May held on Friday, 17th of May 2024 at Hotel Le Meridien (Maradu), Cochin. 

Shri. Lokanath Behera IPS (Retd),former DGP of Kerala and the Managing Director of Kerala Metro Rail Ltd (KMRL) was the guest speaker, Shri. Behera lectured on the topic : Urban Infrastructure Development and Ease of Traffic in Kochi City.

Shri. S. P. Kamath, President of the Chamber delivered the Welcome Address whereas Smt. Vinodini Issac Vice President of the Chamber delivered the vote of thanks.

Factory Visit to Western Polyflex , Cherthala : 28th September 2024

Chamber conducted a factory visit to M/s Western Polyflex, Cherthala (Alappuzha) on Saturday, the 28th of September 2024. The objective behind this visit is to showcase to our members the kind of packaging services offered by M/s Western Polyflex.

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9th Edition of Dr. A P J Abdul Kalam Memorial Lecture Meeting : 18th October 2024: Radisson Blu, Cochin

The 09th edition of Dr. A P J Abdul Kalam Memorial Lecture, held on 18th of October 2024 at Radisson Blu, Cochin. The Chief Guest was Shri. C B Kartha, Outstanding Scientist and the former Deputy Director of Vikram Sarabhai Space Research Centre (VSSC), who lectured on the topic “Challenges in Manned Space Mission”. 

The event began with a warm welcome address delivered by Shri S. P. Kamath, President of the Cochin Chamber. Shri. Praksh Iyer, an Executive Committee Member of the Cochin Chamber, then introduced the keynote speaker. The event concluded with a vote of thanks by Smt. Vinodini Issac, Vice President of the Cochin Chamber.

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).