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The seminar conducted by IWCC on decoding GST & Demonetization for its members was a huge success. Excellent insights and interactions made this a very valuable event for all the businessmen who want to do business in India. Watch more here...

Media

GST & Demonetization Seminar

The Indian Worldwide Chamber of Commerce held a seminar on GST & Demonetization in Gokulam Park Sabari - Chennai on 17th December. GST expert Adv.Vaitheeswaran and Catholic Syrian Bank Chairman Mr. Santhanakrishnan held sessions that delved deep into the far reaching effects of GST & Demonetization. These are two of the biggest reforms India has ever seen and will change the way business is done in India for ever. Watch out this space for the video of the event soon.

This is that time of the year yet again for the IWCC member's family get together. This time we have chosen the beautiful Kodaikanal as our destination to come together as one family. This is the time to connect, interact and develop beautiful relationships for life. One of the best times where new ideas are shared and new businesses are born. Look forward to seeing all the fabulous members and their families from 5th October to 7th October at Hill Country Resorts in Kodaikanal. 

Official representatives of the Indian Worldwide Chamber of Commerce for the year 2016-18 were elected at the AGM held at Bangalore today. Newly elected representatives are

Patron: Dr. Ibrahim Haji (Chairman - Malabar Gold)
Advisory Board Chairman: Reji Abraham (Chairman - Aban Group)
Chairman: Dr. AV Anoop (Managing Director - Medimix)
Vice Chairman: MC Robin (Chairman - MCR Textiles), G Harikumar
President: Baiju Gokulam (Executive Director - Gokulam Group)
Vice Presidents: Rajeev N, Rajan George
Secretary: Biju Varghese
Treasurer: KP Karunakaran
Joint Secretaries: Shyam raj, MV Damodaran
Advisory Committee members: Boban Idiculla, MP Ahmed (Chairman - Malabar Gold)
Executive Committee Members: Vijaya Kumar, Mercy, Nanda Govind

New Delhi: Prime Minister Narendra Modi's reformist, but hard-up government has begun a splurge on road and rail building that analysts say could remove doubts over whether economic growth in India really is overtaking China.

Having roughly doubled spending allocations for roads and bridges in fiscal 2015/16, and raised the rail budget by a third, PM Modi is banking on India going faster.

"They have acknowledged that infrastructure is the big elephant in the room," said Vinayak Chatterjee, head of infrastructure services company Feedback Infra.

"Once these measures are implemented, the elephant would start dancing, and with it the overall economy."

PM Modi's chief economic advisor, Arvind Subramanian, reckons growth could increase by more than one percentage point this year provided ministries don't underspend, though the central bank saw it adding just half a point.

Data released on Friday showed the economy grew 7.5 per cent in the quarter ending in March, easily outpacing China. Many economists suspect, however, that the government statisticians' new way of counting GDP overstates how well India is doing.

Those worries might fade if Mr Subramanian is right about the impact infrastructure spending will have on India's under-achieving economy.

Success rests on whether ministries spend the extra $11 billion they were allocated for infrastructure this fiscal year. They got off to a fast start in April, spending $6 billion of the $38 billion capital expenditure budget for 2015/16.

STEPPING UP

The government has prioritised unblocking infrastructure projects that had gathered dust because of either an obstructive bureaucracy, a lack of private sector investment, or in some cases public interest litigation.

Weighed down with heavy debt, and having posted their worst results in five years, big Indian corporates are in little rush to make fresh investments, while public sector banks may require recapitalisation before they are ready to lend the sums needed.

That has made the government step up to the plate.

Take Delhi's Eastern Peripheral Expressway, for example.

Part of a six-lane ring-road for the capital, the project was first mooted nine years ago but failed to attract private bidders. Unwilling to wait any longer, the road ministry intends spending almost $1 billion building the 135 kilometre loop.

Last month, the cabinet approved a policy that will provide private developers with a $470 million bailout in order to complete 16 highways.

The government has also put $3 billion of seed capital into a new infrastructure fund, with the hope of attracting up to $30 billion of private money.

Some rules have been eased for the private sector, and financially stressed companies are now allowed to exit projects.

And in future, public tenders will only be launched after all approvals have been secured - addressing a major reason why so many projects stalled.

As a result the government hopes road building will accelerate to 30 km a day by the end of next year from 12 km at present, as it plans to award projects for 10,000 km of road this year, up 25 percent from a year earlier.

Some bureaucrats suspect that the government has underestimated how much money is needed. Planned road projects alone will cost $17 billion this year compared with a budget allocation of about $7 billion. To cover most of the gap, the road ministry plans to raise a $7 billion loan.

"We don't have enough money to build all these roads," Rohit Kumar Singh, a mid-level bureaucrat at the ministry, told Reuters. "We need to leverage private sector funding."

A clear, consistent policy on tolls needs to be put in place for the private sector to become more active, Virendra Mhaiskar, managing director of IRB Infrastructure Developers Ltd, one of India's largest road builders, told Reuters.

"You have to create an environment where investors and lenders can make a return," Mr Mhaiskar said.
© Thomson Reuters 2015

IWCC growing in Dubai

Indian Worldwide Chamber of Commerce is expanding its presence in UAE further. The Chairman of IWCC, Dr. AV Anoop visited Dubai on 9th of April 2015 and held a meeting with a brilliant group of dynamic and young businessmen based out of UAE who showed keen interest to join IWCC and take its activities to the next level. This meeting was organized by Mr. Rajeev Nair who has been an IWCC member from its inception. We look forward to starting IWCC activities in UAE further strengthening its international presence and global image. 

Manappuram Miss Queen of India 2015 where IWCC was charity partner, was crowned to Ms.KanikaKapur from Delhi by the last year’s winner from Maharashtra Ms.Dimple Paul. First runners up Ms.Srinidhi R Shetty from Mangalore & Second runners up Ms. Gayathri R Suresh from Kerala were crowned by MD & CEO of Manappuram Finance Ltd Mr. V P Nandakumar. There were four regional titles this time which were won by Ms. Gurusha Gandhi from Bareilly for Miss Queen North, Ms.C Vanlalmalsawmi from Mizoram for Ms Queen East, Ms.Magen Fernandes from Goa for Ms. Queen West and Ms.Aileena Catherine Amon from Kerala for Miss South India. The 12 Sub Tile winners are:

Miss Congeniality– Ms.Srinidhi R Shetty from Mangalore

Miss Perfect Ten–Ms.Aileena Catherine Amon from Kerala

Miss Beautiful Face – Ms.SeemtaChoudhary from Jammu

Miss Beautiful Smile– Ms.Gurusha Gandhi from Bareilly

Miss Beautiful Hair– Ms.AkshayaAlshi from Mumbai

Miss Viewer’s Choice – Ms. C Vanlalmalsawmi from Mizoram

Miss Catwalk– Ms.Hannah RejiKoshy from Kerala

Miss Beautiful Eyes– Ms.RiaSadhwani from Pune

Miss Talented– Ms.MagenFernandes from Goa

Miss Beautiful Skin – Ms. Hannah RejiKoshy from Kerala

Miss Photogenic– Ms.KanikaKapur from Delhi

Miss Personality– Ms.Meenu Krishnan from Kerala

The four hour show ended at 12AM which had full of suspense and excitement. It’s the 5th edition of Miss Queen of India held at ITC Grand Chola. The pageant was judged by Ms. Parvathy Omanakuttan – Miss World first runner up & actress, Ms. Pooja Bhamrah – Miss Queen of India, model & actress, Ms. Mili Ashok Verghese, Entrepreneur, media personality Ms. Toshma Biju and Mr. Khalid Siddique, model & actor

Main Title sponsor of the event is Manappuram Finance Limited – a company which has more than 3293 branches in 27 states and union territories of India and is the First listed and highest credited rated gold loan company in our country.

The event is supported by Medimix, Unique Times, Kanyaka fortnightly, OKJ Jewellery Store & Gokulam Love Tea, Travel Partner-Manappuram Travels, Associate Partner-Popular Appalam, Hospitality Partner-Gokulam Park Hotels & Resorts, Out Door Media Partner-Aiswaria Advertisers, Crown Partner-Parakkat Jewels, Grooming Hospitality Partner – Beaumonde the Fern, Gift Partner-School of Fashion Design-Hindustan University, PSNA College of Engineering, StudyWorld - Dubai, Pothys & Prince Jewellery. 

The Indian Worldwide Chamber of Commerce was the Charity Partner of the event. 

 The event was directed by Mr. Ajith Ravi PEGASUS, Founder and Chairman of PEGASUS

Indian Worldwide Chamber of Commerce (IWCC) is the charity partner of the mega event Miss. Queen of India beauty pageant this year. Manapuram Miss Queen of India 2015 is here to discover the freedom of expression and talent for the women of India. The pageant that has been successful over the past twelve years will not just look at the modern aspects of a woman but also her cultural and traditional facets to test her bonding with the nation. With culture and beauty emanating from each of the pageants, they will also be crowned as the ambassador of their respective tourist destinations. While the preliminary level will test the confidence level, the winner of the contest will be entitled to take part in Miss Asia Pageant.  The jury panel will consist of Parvathy Omanakuttan - Miss World runner; Pooja Barmah - Miss Queen of India and Toshma Biju - Designer. Be sure to make it to the grand occasion at ITC Grand Chola, Guindy on 18th April 2015. May the beautiful be acknowledged.

For Special Invite to the Mega event contact Mr. Shyam: +91 98-40-018883(Chennai); Mr. Damodaran: +91 99-40-050237(Chennai); Mr. Karunakaran: +91 98-41-043483 (Chennai); Mr. Biju Varghese: 9845264192 (Bangalore); Mr.Bejo Vacha: +91 9895800007 (Kerala)

IWCC Members visit -Dubai

A members initiated Dubai visit was done during February 26 - March 8, 2015. The trip was planned mainly with two objectives - 1) Individual Business networking and promotion 2) Meet the IWCC Members and meet potential individuals who could be interested in joining IWCC

For individual business networking and promotion, a number of meetings were lined up with potential business partners / clients. Very fruitful mutually beneficial new business relationships were built and business discussions and activities were initiated.

The team met with prominent businessmen like Mr. George Nereaparampil, Mr. Ismayael Rawther and Mr. Niyaz Ali and was assured of their support to IWCC in the region. Excellent local support by Mr. Rajeev Nair and others helped make the visit a very fruitful one. 

The members also met with a number of prominant businessmen/women who are potential IWCCians from UAE. We hope to have a Dubai chapter of IWCC soon from among the chosen ones.

IWCC Chairman and Managing Director of Cholayil Group Dr. AV Anoop won the DC Books Emerging Kerala NRK businessman of the year. Congratulations!