Events

 

Interactive Meeting with H.E. Mr. Vadivel Krishnamoorthy,
Deputy High Commissioner of Sri Lanka in Southern India
(April 26, 2017)

 

The Chamber organized an Interactive Meeting with His Excellency Mr. Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Southern India, at Hotel Taj Coromandel, Chennai.

Mr. Vadivel Krishnamoorthy, in his address, said that two-way trade between our two countries increased to reach a total of USD 4.9 billion in 2015 from mere USD 0.67 billion in 2001. The FTA also dramatically paved way for investment inflow into Sri Lanka from India. In the mean time, this Agreement has become a historical landmark for Sri Lanka since it has created opportunities for Sri Lankan companies like Brandix, MAS holdings, John Keels, Hayleys, and Aitken Spence (Hotels), apart from other investments in the freight servicing and logistics sector that come to India.

India is now one among the top four investors in Sri Lanka with cumulative investments of over US$ 1 billion since 2003. The investments are in diverse areas including petroleum retail, IT, financial services, real estate, telecommunication, hospitality & tourism, banking, food processing, metal industries, tires, cement, glass manufacturing and infrastructure developments.

His Excellency revealed that there are numerous opportunities in niche provinces of Sri Lanka, including the Eastern Province, which is one of the emerging vibrant commercial hubs in Sri Lanka. The natural harbour in Trincomalee and the tourist hotels in Arugambay are the biggest development projects in this region. The Eastern Province already began attracting plenty of both local and foreign investments, including India, Japan and Singapore. This emerging commercial hub has targeted massive developments like Trincomalee Port in the Trincomalee City. Investors from India could benefit immensely and our Deputy High Commission in Chennai will provide information and facilitate them to connect with people back home.

The DHC said, “India is now Sri Lanka’s largest trading partner. India occupies number one place in terms of Foreign Direct Investment. The largest number of tourists arrival into Sri Lanka are from India. In the major sectors of trade, Foreign Direct Investment and tourism, India occupies a dominant position in relation to Sri Lanka’s economy. This paves way for India-Sri Lanka ties, especially in the economic front. It also clearly reveals that a lot can be achieved together -- the need of the hour is to think and act -- to maximize its potentials to our mutual advantage”, he concluded.

 

 

Mr. C.S. Muthu Subramaniyan, (left), President, presenting a memento to H.E. Mr. Vadivel Krishnamoorthy,
Deputy High Commissioner of Sri Lanka in Southern India; Others (R to L):Mr. S. Soundara Rajan,
Vice President and Mr. P. Gopalakrishna, Secretary of the Chamber are also seen.
 

Earlier, Mr. C.S Muthu Subramaniyan, President of the Chamber, spoke in brief the development of trade relations between India and Sri Lanka and applauded the role played His Excellency.

Mr. Yasantha De Silva Yaddehi, Counsellor (Commercial), Sri Lanka Deputy High Commission in Southern India, made an impressive presentation on growing industrial projects in different States and investment Opportunities in Sri Lanka.

Mr. Joseph Ranjithan Fernando, President of TVS Sun-TWS, made a presentation on the activities of the Group and narrated the successful functioning of their units in Chennai, Pudukottai and especially their tyre and wheel industry in Biyagama in Sri Lanka. He appreciated the great co-operation extended by Sri Lankan Government for setting up their unit in Sri Lanka.

Mr. C.S. Muthu Subramaniyan, President, presented mementos to H.E Mr. Vadivel Krishnamoorthy and Mr. Yasantha De Silva, Counsellor (Commercial), Deputy High Commission of Sri Lanka in Southern India.

Mr. S. Soundara Rajan, Vice-President of the Chamber, proposed the vote of thanks.

The event was co-sponsored by Bank of Ceylon and TVS Sun–TWS Ltd.

 

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Workshop on Investment Opportunities in Vietnam
(June 1, 2016)

 

 

H.E Mr. Ton Sinh Thanh, Ambassador of the Socialist Republic of Vietnam, New Delhi, addressing the members of the
Chamber. Seated (R to L) Dr.A.V Sivarama Prasad, Executive President, HRD & Services, The KCP Limited; Mr. C. Sarat
Chandran,Director; Mr. C.S. Muthu Subramaniyan, President and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

The Chamber organised a Workshop on ‘Investment Opportunities in Vietnam, in association with the Embassy of Socialist Republic of Vietnam in India with His Excellency Mr. Ton Sinh Thanh, Ambassador of Vietnam in New Delhi, as Chief Guest and the Vietnamese Companies, which accompanied him.

In his keynote address, His Excellency said Vietnam has at present diplomatic relations with 184 countries and territories, almost all member countries of the United Nations, and economic and trade relations with over 220 countries and territories and a member of almost all important regional and international organizations.

India is among 10 biggest trading partners of Vietnam. Bilateral trading turnover has been increasing in the period 2008-2015 at 11.34 % per year. The average growth in exports was 31.50 percentage and imports increased to 4.71 percentages per year. According to Vietnam’s data, the bilateral trade between the two countries in 2015 was US $ 5.13 billion, decreased by 7.72 percentage but the exports increased by 0.57 percentage, gaining US $ 2.47 billion.

Mr. Sinh Thanh said India can now export medicines to Vietnam, and Indian exports to Vietnam were rising. “The trade deficit is also reducing. Last year alone, India’s investment in Vietnam was $507 million.” Vietnam exports mobile phones, machinery, computers, electronic products, spare parts, coffee, natural rubber among other products to India, he said. The Ambassador also said Indian textile companies can take advantage of the Trans-Pacific Partnership (TPP) agreement.

In his welcome address, the President of the Chamber, Mr. C.S. Muthu Subramaniyan, said bilateral trade is developing well and likely to meet their target of US $ 7 billion in 2015. As per Vietnamese Government data, total trade volume touched US$ 5.23 billion in 2013, registering an increase of 47.64 percent vis-a-vis corresponding period of last year. Balance of Trade in Vietnam averaged 427.31 USD Million from 1990 until 2014, reaching an all time high of 1444 USD Million in January of 2014.

Dr. A.V Sivarama Prasad, Executive President (HRD & Services), The KCP Limited, Chennai, made an impressive presentation on the growth of KCP Foundation and success stories of their organization in Vietnam, M/s KCP Vietnam Industries Limited, which was set up in 2000.

Mr. Trinh Minh Van, Director of Foreign Investment Promotion, Ministry of Planning & Investment, Vietnam, made a presentation on the facilities available to investors and incentives being offered by the Government. Mr. Nguyen Hoai Duong, Business Development Manager, Viglacera Real Estate Company, made a presentation on the growth of their company and Mr. Aditya Sinha, Director, Dinh Vu Industrial Zone, explained the incentives being offered to investors in their Zone.

Mr. C. Sarat Chandran, Director of the Chamber, presented the concluding remarks.

In addition to members of the Chamber, the meeting was attended by diplomats and office bearers of Chambers of Commerce in Chennai.

The event was co-sponsored by the KCP Limited.
 

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Interactive Meeting with
Mr. A. FAJARAZAM, Consul General of Malaysia in Chennai
(February 24, 2016)

 

 

Mr. Ahmad Fajarazam Bin Abdul Jalil, Consul General of Malaysia, addressing the members of the Chamber.
Seated (R to L): Mr. S. Soundhara Rajan, Vice- President of the Chamber; Mr. Nirmal Biswas,

DGM & Regional Head, EXIM Bank; Mr. C. Sarat Chandran, Director; Mr. C.S Muthu Subramaniyan,

President and Mr. P. Gopalakrishna, Secretary of the Chamber.
 

The Chamber organized an Interactive Meeting with Mr. Ahmad Fajarazam Bin Abdul Jalil, new Consul General of Malaysia in Chennai, at Hotel Taj Coromandel, Chennai.

Mr. A Fajarazam, in his address, said despite the economic slowdown, trade between the two countries increased to $46.8 billion in 2015, a 3.5 per cent increase over 2014. Major imports from Malaysia include manufactures of copper & nickel, petroleum products and chemicals & chemical products and exports are palm oil, electrical & electronic products and crude petroleum.

India and Malaysia’s trade investment are increasing as well. Cumulative investments by Malaysian companies in India account for about $6 billion as against $3 billion in 2012. They are in the areas of information and communication technology, mining, transportation and scientific and chemical research and development. India’s investment in Malaysia totals about $ 4.49 billion creating 14, 919 jobs in paper and publishing industry, textiles, petroleum and electronic sector.

Malaysia was the 23rdbiggest investor in India from April 2000 to June 2015 with investment worth USD 744.14 million and does not include substantial flow of Malaysian investment via establishment in third countries which will bring Malaysia’s cumulative investment in excess of USD 6 billion. Investments in India are mainly in non-conventional energy, construction, metallurgical industries, services, power and telecommunication and Halal and non-food trade is worth US$ 2.77 trillion.

Malaysia is one of the significant investors in India. Major companies which have set up offices in India include IJM, UEM, Scomi, Petronas, AZRB, Sime Darby, Khazanah Nasional, Malaysia Airlines, UMW, Plus, Maxis, Sunway, Royal Selangor, Metro Parking, Pelita Nasikandar. In 2015, India was Malaysia 10th largest trading partner; 7th largest export destination and 12th biggest importer.

Mr. Nirmal Biswas, DGM & Regional Head of EXIM Bank, in his presentation stated that Malaysia is India’s second largest trading partner in the ASEAN and India’s trade with Malaysia has increased more than two-fold during the last five years; Malaysia has traditionally enjoyed a surplus primarily owing to India’s reliance for imports of palm oil and petroleum. India’s share in global exports rose from 0.7% in 2000 to 1.7% in 2013, India now ranks as 19th largest global exporter, up from 32nd position in 2000. In other words, India has overtaken Australia, Brazil, Thailand, Malaysia and Indonesia among others.

During April 2000 to September 2015, total inflows into India from Malaysia amounted to US$760.6 million, accounting for 0.3% of India’s global inflows.
Mr. C. Sarat Chandran in his remarks said Malaysia moving from resource-based economy to digital economy, it presents a huge potential for outsourcing back-office operations for India. ‘Of the 150 Indian companies in Malaysia, 50 are IT related. Malaysia’s thriving electronics industry and its proximity to India could foster partnership between the two countries. “Making Malaysia an outsourcing partner for electronics manufacturing could benefit both countries.

Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address said Malaysia is the third largest trading partner for India within ASEAN, and India is the largest trading partner for Malaysia from among the countries of the South, and India is the largest trading partner for Malaysia from among the countries of the South, excluding China. The bilateral trade between India and Malaysia in 2014 was US$ 13.84 billion (US $ 9.77 billion for Malaysian exports and US $ 4.07 billion for Indian exports). Trade remains significantly imbalanced in favour of Malaysia.

Mr. D.M. Belgamvala, Vice- President presented a memento to Mr. A FAJARZAM and wished him all success in his new assignment Mr. Elango, Treasurer of our Chamber presented a memento to Mr. Nirmal Biswas.

Mr. Soundara Rajan, Vice-President of the Chamber, proposed the vote of thanks.

The event was co-sponsored by EXIM Bank.

 

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Felicitation to H.E. Mr. Vadivel Krishnamoorthy on his appointment

as Deputy High Commissioner of Sri Lanka in Southern India, Chennai
(October 9, 2015)

 

 

Mr. C.S. Muthu Subrmaniyan (Left), President of the Chamber, presenting a Memento to

His Excellency Mr. Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Southern India,

Chennai. Mr. S. Soundara Rajan, Vice President of the Chamber, is also seen.


The Chamber organised a felicitation to H.E. Mr. Vadivel Krishnamoorthy on his recent appointment as Deputy High Commissioner of Sri Lanka in Southern India, Chennai. He was earlier Deputy High Commissioner of Sri Lanka from 2009 to 2012.

His Excellency, in his address, narrated the progress of trade and investment between India and Sri Lanka during the past few years.

With the signing of FTA in 1998 between the two nations, imports from India have increased many folds. The total export from India to Sri Lanka, which was at US $ 600 mn in year 2001, has increased to US $ 4330 bn in year 2011. It is to be noted that the level of exports from India to Sri Lanka in year 2014 is higher than the India’s exports to countries such as Malaysia, Thailand, South Africa, Russia, Canada, Pakistan, Kenya, Switzerland, Sweden, Denmark, New Zealand, Chile etc. It is no doubt, India and her industries have placed more commercial importance towards Sri Lanka and its emerging market potential, he said.

The number of products exported by Sri Lanka to India also increased substantially during the period from 2000 to 2014. In 2000, Sri Lanka exported 305 tariff lines to India, whereas by 2014 this figure had increased to 470. Sri Lanka also began to export higher value added products as the FTA progressed. In the year 2000, Sri Lanka’s main export to India included pepper, waste and scrap metal, arecanuts, dried fruits and cloves. By 2007, there were still a number of primary products exported to India. However several value added products such as insulated wires and cables pneumatic tires, ceramics, vegetable fats, furniture were among the top exports to India. While in general, exports to India have been skewed with the dominance of vanaspathi and copper in the initial stages, there has been rapid growth in exports of high value added manufacturing goods including insulated wires, rubber gloves and refined copper products, intimate garments which have been able to capture niches in the Indian market.

Indian companies such as Indian oil, Barati Airtel, ICICI Bank have immensely benefited from being into Sri Lankan market. The companies such as Taj Hotels, CETA have become home brands in Sri Lanka irrespective of its Indian origin. The conquest of Indian investors further triggered during recent past and major companies such as Axis bank, Fortis Heathcare, Mphasis, TATA communication, Dabur, ITC Hotels, Delta Cop, Firstsource IT, Vasan eye care, Krish Group etc expanded there operations to the island.

There is also scope for collaboration between India and Sri Lanka in the area of construction services such as infrastructure development, town planning in Sri Lanka with private participation is an important priority where the demand for construction services particularly in the areas of highways, railways and housing projects. Several Indian companies such as Ansals and SMS property Developers have already invested in building of housing and civil construction projects.

Sri Lankan investments in India have also increased over the past one and half decade. Establishment of the Brandix India apparel city, a 1,000 acre integrated textile manufacturing and Apparel Park set up in the SEZ at Visakhapatnam is a major Sri Lankan project in India. Sri Lankan companies such as Damro, Mas Holdings, John Khells and Aitken Spence have also made significant inroads to India.

Sri Lanka’s strategic location, stable government, literate workforce and pro-business environment make it an ideal launch pad for Indian entrepreneurs to tap whole South Asian market by making use of market accesses instruments such as FTA with Pakistan.

In conclusion, His Excellency invited Indians to attend the Sri Lanka Fairs -- ‘Invest in East’ – Second International Investment promotion for the Eastern Sri Lanka to be held on 15th December 2015 at Hotel Galadari, Colombo and Footwear and Leather Fair organized by the Export Development Board in collaboration with the Ministry of Industry and Commerce to be held 5th to 7th February 2016 at Srimavo Bandaranaike Memorial Exhibition Center, Colombo.

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, said that India’s largest trade partner in South Asia is Sri Lanka. India in turn is Sri Lanka’s largest trade partner globally. Sri Lanka has long been a priority destination for direct investment from India. India is among the four largest overall investors in Sri Lanka with cumulative investments over US$ 800 million. In 2013, Indian investment into Sri Lanka amounted to US$ 50.52 million. He expressed his confidence that there would be remarkable growth in trade and industry relations between the two countries during the tenure of His Excellency at Chennai.

The President presented a memento to His Excellency and wished him all success in his new assignment.

Mr. Soundara Rajan, Vice-President of the Chamber, proposed the vote of thanks.

The event, which was held at Hotel Taj Coromandel was co-sponsored by Bank of Ceylon and Sree Padam.

 

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Interactive Meeting with H.E. Dr. Rizali Wilmar Indrakesuma

Ambassador of the Republic of Indonesia, New Delhi
(June 19, 2015)

 

The Chamber organized an Interactive Meeting with H.E. Dr. Rizali Wilmar Indrakesuma, Ambassador of the Republic of Indonesia, New Delhi, on 19th June 2015 at Hotel Taj Coromandel, Chennai.

 

 

 H.E. Dr. Rizali Wilmar Indrakesuma (centre), Ambassador of the Republic of Indonesia, New Delhi, Interacting with the audience.

Others (R to L): Mr. C. Sarat Chandran, Director; Mr. Ahmed A.R. Buhari, Founder President & CEO, Coal & Oil Group, Chennai;

Mr. C.S Muthu Subramaniyan, President and Mr. P. Gopalakrishna, Secretary of the Chamber.
 

His Excellency, in his address on the theme – “To move beyond Rhetoric: Tapping Indonesia-India Trade & Investment Potentials”, offered wide-ranging suggestions for rapid economic growth and development of business and investment relations between the two countries. Joint consultation committees should be formed in all sectors with the concerned officials, experts and ministers to study the existing conditions and offer recommendations.

Indonesia has now become the largest economy in South East Asia, and it is now the 16th largest in the world. Indonesia–India strategic relationship was signed in 2005 and in 2011, it was decided to achieve US$ 25 billion of bilateral trade by end of 2015 as manifested in Joint Statement: Vision for the India-Indonesia New Strategic Partnership.

The Ambassador said that Indonesia and India must now contemplate on how to mutually collaborate in closing the gaps in bilateral trade. Both countries mush share their innovations to increase productivity in all fields for prosperity of the people.

Indonesia traditionally exports fixed vegetables, fats & oils, coal, copper ores, natural rubber, pulp & waste paper, alcohols & phenols, hydrocarbon, machine tools, medicinal and pharmaceutical products, fertilizers, paper and paperboard, carboxylic acids, dyeing/tanning extracts, other chemical products.

Vice Versa, India traditionally exports Petroleum products, telecommunication equipments and parts, hydrocarbons and derivatives, oil seed, motor vehicle for goods transportation, animal feed, cotton, flat rolled product, alloy steel etc to Indonesia.

His Excellency invited Indian entrepreneur to invest in Indonesia in sectors like refinery, energy etc.

Earlier, Mr. C.S. Muthu Subramaniyan, President of the chamber, in his welcome address, said that Indonesia has now emerged as the second largest trading partner of India in the ASEAN region. Bilateral trade has increased from US$ 6.9 billion in 2007-08 to $16 b in 2014.The two sides have set the trade target of US$ 25 billion by 2015.

India is the largest buyer of crude palm oil from Indonesia and imports coal, minerals, rubber, pulp and paper and hydrocarbons reserves. India exports refined petroleum products, maize, commercial vehicles, telecommunication equipment, oil seeds, animal feed, cotton, steel products and plastics to Indonesia. India also exports pharmaceuticals in bulk and formulations to Indonesia.

Mr. C.S Muthu Subramaniyan said that 16 Inter-Governmental Agreements were signed including an Extradition Treaty, Mutual Legal Assistance Treaty during the visit of the President of Indonesia, Mr. Yudhoyono in January 2011 as the Chief Guest on the occasion of India’s Republic Day.

Mr. Ahmed A.R. Buhari, Founder President and CEO of Coal & Oil Group, made an impressive presentation on the growth and achievements of C&O Group.

Coastal Energy (C&O Group), which was launched by Mr. Buhari in 1997 in India, has so far set up 8 companies for sourcing of Coal, Shipping, Logistics and Power Generation. C & O’s partners at present include some of the largest blue chip Global companies, such as Banpu, Bayan, Goldman Sachs, BHP), Anglo American, Sojitz, Mitsubishi, Morgan Stanley, Credit Suisse, Tata Power, Formosa, My Home Cements, TOTAL, SBI, Harbin, ABB, Thyssenkrupp, Morgan Stanley, Samtan-Kideco, etc.

The Group’s flagship US$ 1.3 billion Power generation company, Coastal Energen’s Mutiara Thermal Power Plant, has commissioned its Unit 1 of 600 mw and commenced supply of power on Dec 23, 2014. Mutiara Thermal Power Plant is a 1200mw site, with provision for expanding to about 3,600mw in the same location. The Plant will meet the dire power requirement of TN State in due course.

The Group is also involved in promoting 120 km Madurai – Tuticorin Industrial Corridor in South Tamil Nadu, which finds a prominent place in vision 2023 document.

Since the past decade, the C&O Group have been soaked in all aspects of managing the Fuel Supply Chain for a variety of coal consumers. With operations spread across 4 continents, 20 countries and hundreds of supply and delivery points, they perfected the art of getting Fuel from one point to the other at the lowest effective cost..

On behalf of the Chamber, the President presented a memento to The Ambassador of the Republic of Indonesia, New Delhi.

Mr. C. Sarat Chandran, Director of the Chamber, presented the Concluding Remarks.

The meet was co-sponsored by C&O Group.

 

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Bidding Farewell to H.E. Mr. A. Sabarullah Khan,

Deputy High Commissioner of Sri Lanka, Chennai
(June 15, 2015)

 

The Chamber organized a party to bid Farewell to H.E. Mr. A. Sabarullah Khan, Deputy High Commissioner of Sri Lanka, Chennai on his transfer to New York on appointment as the Deputy Permanent Representative at Sri Lanka Permanent Mission. It was held at Hotel Taj Coromandel, Chennai.

 

 

 Mr. C.S. Muthu Subramaniyan (second from right), President, presenting a memento to Mr.Sabarullah Khan,

Deputy High Commissioner of Sri Lanka to Southern India, Chennai. (Others seen) Mr. C. Sarat Chandran, Director

and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

The Deputy High Commissioner, in his address, recalled the close relationship of the Chamber with the Deputy High Commission of Sri Lanka during his tenure at Chennai. He expressed his confidence that the Chamber would continue its co-operation to DHC for promotion of trade and industry between India and Sri Lanka.

Mr. C.S. Muthu Subramaniyan, President; Mr. C. Sarat Chandran, Director; Mr. S.K. Hazari, Former President; Mr. J. Elango, Treasurer; Mr. B. Pirathapan, Committee Member and Mr. P. Gopalakrishna, Secretary of the Chamber, appreciated the efforts put in by Mr. Khan for development of business relations between the two countries and his active support to the Chamber. They wished him all success in his future assignments.

On behalf of the Chamber, the President presented a memento to Mr. Khan.

The event was attended by Committee Members of the Chamber and senior diplomats from the Deputy High Commission of Sri Lanka, Chennai.

(Mr. M.K. Pathmanaathan, Deputy Chief of the Mission, will be the Acting Deputy High Commissioner for Sri Lanka in Chennai until arrival of the new Deputy High Commissioner).

 

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Interactive Meeting with His Excellency Mr. Y.K Sinha,
High Commissioner of India to Sri Lanka in Colombo
(May 14, 2015)

 

The Chamber organized an Interactive Meeting with His Excellency Mr. Y.K. Sinha, High Commissioner of India to Sri Lanka, Colombo, at Hotel Taj Coromandel, Chennai.

 

 

H.E. Mr. Y.K. Sinha (centre), High Commissioner of India to Sri Lanka, Colombo, interacting with the, audience.

Others (R to L): Mr. Nirmal Biswas, Regional Head, EXIM Bank, Chennai; Mr. C.S Muthu Subramaniyan, President;

Mr. C. Sarat Chandran, Director and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

Mr. Sinha, in his address, said the trade between India and Sri Lanka has increased 10-fold after the Free Trade Agreement. But there is more to be explored. His concern was that more than 70 per cent of India’s exports to Sri Lanka were outside the FTA route. ‘This needs to be addressed’. Bilateral trade between the two countries in 2014 stood at US$4.6 billion, with imports from India to Sri Lanka amounting to US$ 3.99 billion and Sri Lankan exports to India amounted to US$ 625 million.

His Excellency remarked that FDI from India to Sri Lanka in the year 2014 amounted to US$ 52 million and India was the eighth largest source of FDI into Sri Lanka. From 2003 onwards, cumulative investment from India has been more than US$ 1 billion. FDI from India has been accompanied by technology transfer and creation of capacity (Lanka Leyland, CEAT). Many premier Indian companies including Lanka IOC. Tata Motors, Piramal Glass, Ultra Tech Cement, among others have become household names in Sri Lanka. Committed FDI includes the Slave Island Re-

Development Project of Tata Housing Project, US$ 300 million ITC ‘Colombo One’ Project, US $ 250 million ‘Altair’ Project of Indocean Developers (Pvt.) Ltd., and Sampur Coal Power Project, among others.

Sri Lanka continues to attract investment from India. The PR firm Adfactors entered Sri Lanka in 2014. Rashtriya Ispat Nigam Limited (RINL) has also opened a branch office in 2014. He added that Sri Lankan Investment into India has been steady--Brandix Apparel City in Vishakhapatnam, MAS holdings in Nellore, John Keels, Hayleys, Aitken Spence (Hotels), Hayleys and Freight Links (logistics), Ceylon Pencils, and Damro in Furniture are a few well-known examples of FDI into India.

Mr. Sinha indicated that once the 250-MV power plants built by India went live, the island nation would have added capacity. “Once we are surplus, we can have energy trade between the island nation and Tamil Nadu,” he said. For this, he said, submarine cables need to be installed with the support of the Government of India and Tamil Nadu.

Talking about the potential investments, he said, “Tamil Nadu should look at Northern Sri Lanka. The environment has changed there. He also elucidated the immense opportunity in technical education and the IT & ITES sector. “IT is one area where the island nation has missed the bus. India and Sri Lanka share the same time zone. This should be tapped for IT and ITES related services,” he said.

The High Commission desires to encourage setting up of JVs in sectors including auto components, light-engineering, pharmaceuticals and textiles on SEZ in Sri Lanka. Mr Sinha said, “Things have changed with the change in government.”

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address, detailed the growing trade relations between the two countries. India’s largest trade partner in South Asia is Sri Lanka. India in turn is Sri Lanka’s largest trade partner globally. Sri Lanka has long been a priority destination for direct investment from India. India is among the four largest overall investors in Sri Lanka with cumulative investments over US$ 800 million. In 2013, Indian investment into Sri Lanka amounted to US$ 50.52 million.

The main investments from India are in the areas of petroleum retail, hospitals, telecom, vanaspati, copper and other metal industries, real estate, telecommunication, hospitality & tourism, banking and financial services, IT and food processing (tea & fruit juices). The notable Indian investments committed in the past few years are: ITC Ltd., Hotel project (US$ 140 million).

During Prime Minister Mr. Narendra Modi’s first tour to the island country in March 2015, India and Sri Lanka signed four bilateral pacts -– agreement on visa, customs, youth development and building Rabindranath Tagore memorial, the President added.

Mr. Nirmal Biswas, Regional Head, EXIM Bank, Chennai, made a presentation on the activities of Export-Import Bank of India, especially its services to the trading community in India and Sri Lanka.

The concluding remarks were delivered by Mr. C. Sarat Chandran, Director of the Chamber.

Mr. C.S. Muthu Subramaniyan and Mr. C. Sarat Chandran, presented a mementoes to H.E Mr. Y.K. Sinha and Mr. Nirmal Biswas respectively.


In addition to members of the Chamber, the meeting was attended by diplomats and office-bearers of Chambers of Commerce in Chennai.

The event was co-sponsored by Export-Import Bank of India. 

 

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Interactive Meeting with The Ambassador
of the Republic of Union of Myanmar, New Delhi
(March 25, 2015)

 

The Chamber organised an Interactive Meeting with His Excellency Mr. Aung Khin Soe, Ambassador of the Embassy of the Republic of Union of Myanmar, New Delhi, on 25th March 2015 at Hotel Taj Coromandel, Chennai.

 

 

Mr. C.S. Muthu Subramaniyan (second from left), President of the Chamber, presenting a Memento to

His Excellency Mr. Aung Khin Soe, Ambassador of the Republic of Union of Mayanmar, New Delhi
Others (L to R) Mr. C. Sarat Chandran; Director and Mr. P. Gopalakrishna, Secretary of the Chamber
and Mr. Zaw Nyunt, Economic Attache/Commercial Counsellor, Embassy of the Republic of the Union
of Myanmar, New Delhi.

 

His Excellency, in his address, said that volume of bilateral trade between India and Myanmar reached USD 1637 million during the budget year 2013-14 – the exports from Myanmar to India amounted to USD 1143.366 million and imports from India were at USD 493.531 million. Major exports of Myanmar are agricultural products and forest products and imports from India include pharmaceuticals and machineries.

Referring to the new Foreign Investment Laws, enacted in 2012, the Ambassador said that almost all sectors are basically open to foreign direct investment in the form of 100%- owned or Joint Venture with local companies.

About 33 countries including China, Thailand, Hong Kong, Singapore and United Kingdom made investment to the extent of US$44 billion. Out of 33 countries, India ranks No.10 and investment made by 17 Indian companies amounted to US$ 504 million – Indian companies invested in Oil and Gas sector and wood-based manufacturing industries. About 72 Indian companies have so far registered their names in Myanmar for doing business in various sectors, he added.

The number of foreign tourists to Myanmar had increased by 300% during the past three years. ‘The number of Indian tourists to Myanmar during 2014 reached nearly 32,000, an increase of 3% excluding the entry from border gateway’, he remarked.

Mr. Zaw Nyunt, Economic Attache/Commercial Counsellor, Embassy of the Republic of the Union of Myanmar, New Delhi, narrated the rules and regulations for investment by foreign companies in Myanmar and said that Myanmar Government offers attractive incentives like 5-year tax holiday (extensible); right to deduct from tax assessment the depreciation of capital assets, R&D, losses upto 3 years and reinvestment; Income tax relief upto 50% on profits for export manufacturing industry and Custom duty and internal tax relief for imports during Construction Period and for raw material imports for the first 3 years after Construction Period.

H.E The Ambassador and Economic Attache/ Commercial Counsellor interacted with members and invited Indian companies to invest in Myanmar.

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address, said that His Excellency made his visit to Chennai exclusively to interact with the members of the Chamber for development of business relations between Myanmar and South India. The President expressed his happiness for accepting our invitation and appreciated his gesture. Further it was the first visit of the His Excellency to Chennai.

The President pointed out that a large population of Indian origin (about 2.5 million) live in Myanmar and India is attaching increasing significance to Myanmar. For the first time in the modern history of India-Myanmar bilateral ties, an Indian Prime Minister has visited twice in the same year – Dr. Manmohan Singh was in Myanmar in March 2014 for the 3rd BIMSTEC Summit and Mr. Modi visited in November 2014. Vice President of Myanmar Dr Sai Mauk Kham visited India.

Mr. Muthu Subramaniyan said that the Government of India is also closely working with Government of Myanmar to implement the MOU of Border Area Development, where India has granted an assistance of USD 5 million each year for five years. Under this MOU, 21 schools, 17 health centres and 8 bridges were constructed/built during the first year in Chin State and Naga Self Administered Zone of Myanmar.

Export-Import Bank of India (EXIM Bank) has opened its representative office at Yangon in Myanmar on 9th September 2013 and it clearly proves the growing trade relations between the two countries, the President said.

Mr. C.S. Muthu Subramaniyan, President of the Chamber, presented a memento to H.E. Mr. Aung Khin Soe, Ambassador of the Embassy of the Union of Republic of Myanmar, New Delhi and Mr. C. Sarat Chandran, Director, to Mr. Zaw Nyunt, Economic Attache/Commercial Counsellor, Embassy of the Republic of Union of Myanmar, New Delhi.

Mr. C. Sarat Chandran, Director of the Chamber, presented the concluding remarks.

The meeting was well attended by members of the Chamber, diplomats and office-bearers of Chambers of Commerce in Chennai.

 

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Bidding Farewell to to Mr. Samantha Wijesekara,
Counsellor (Commercial), Sri Lanka Deputy High Commission, Chennai
(June 24, 2014)

 

Mr. C.S. Muthu Subramanian (second from left), President, presenting a Memento to Mr. Samantha
Wijesekara, Counsellor (Commercial), Sri Lanka Deputy High Commission at Chennai. Others: (R to L)
Mr. C. Sarat Chandran, Director of the Chamber; Mr. A. Sabarullah Khan, Deputy High Commissioner
of Sri Lanka for Southern India and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

The Chamber hosted an informal function to bid farewell to Mr. Samantha Wijesekara, on the occasion of his promotion as Deputy Director, Ministry of Commerce at Colombo, Sri Lanka.

It was attended by the Executive Committee Members of the Chamber; Mr. A. Sabarullah Khan, Deputy High Commissioner of Sri Lanka in Southern India; senior officials in the Deputy High Commission of Sri Lanka at Chennai and Mr. Nihal Surawimala, new Country Manager, Bank of Ceylon, Chennai.

Mr. C.S. Muthu Subramanian, President of the Chamber, appreciated the active support extended by Mr. Samantha to the Chamber during the past three years and added that his significant guidance to the business community made his tenure a memorable one to all. He congratulated him on his elevation as Deputy Director to the Ministry of Commerce, Government of Sri Lanka and wished him all success in his career. The President presented a memento to Mr. Samantha Wijesekara.

Mr. A. Sabarullah Khan, Deputy High Commissioner of Sri Lanka, narrated the growing trade relations between India and Sri Lanka and the remarkable role played by Mr. Samantha in helping the trade and industry in South India.


Mr. C. Sarat Chandran, Director of the Chamber, commended the contribution made by Mr. Samantha Wijesekara for development of business relationship between the two countries.

The Committee Members and officials of the Sri Lanka Deputy High Commission praised his friendly-guidance to traders.

Mr. Samantha Wijesekara, in his reply, appreciated the activities of the Chamber and also thanked for organising the party. He assured his continuous support to the Chamber from Sri Lanka for development of trade between the two countries.

Mr. P. Gopalakrishna, Secretary of the Chamber, highlighted the assistance rendered by him to the Chamber and the trade in general, which made him to win the confidence of all during his tenure of three years at Chennai and wished him every success in all his future assignments.

On this occassion, the President also presented a memento to Mr. Palitha Jinasoma, Country Manager, Bank of Ceylon, on his promotion as Deputy General Manager of the Bank of Ceylon at Colombo. He was a member of the Executive Committee of the Chamber.

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Bidding Farewell to Mr. Chanchai Charanvatnakit, Consul General
of the Royal Thai Consulate General at Chennai
(September 24, 2013)

 

Mr. C.S. Muthu Subramaniyan (left), President of the Chamber, presenting a memento to Mr. Chanchai
Charanvatnakit, Consul General of Royal Thai Consulate General, Chennai.
Mr. P. Gopalakrishna,Secretary of the Chamber, is also seen.

 

The Chamber hosted an informal function to bid farewell to Mr. Chanchai Charanvatankit, Consul General, Royal Thai Consulate General at Chennai, on his returning to Thailand shortly. Mr. C.S. Muthu Subramaniyan, President of the Chamber, appreciated the active cooperation extended by Mr. Chanchai to the Chamber during his tenure of 38 months at Chennai. The Chamber organized a Seminar on “Business Opportunities in Thailand” on 13th March 2012, in association with Royal Thai Consulate General, for strengthening the trade relations between India and Thailand, he added.

On behalf of the Chamber, Mr. C.S. Muthu Subramaniyan, President, presented a memento to Mr. Chanchai Charanvatnakit.

Mr. Chanchai, in his reply, appreciated the active role played by the Chamber for development of trade relations between the two countries and expressed his grateful thanks for honouring him.

In addition to Committee Members of the Chamber, the function was attended by Mr. A. Sabarullah Khan, Deputy High Commissioner, Sri Lanka Deputy High Commission, Chennai and Mr. Tajtai Tamangraksat, Deputy Consul General, Royal Thai Consulate General at Chennai.

Mr. P. Gopalakrishna, Secretary of the Chamber, proposed the vote of thanks.

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Bidding Farewell to Mr. Ajit Singh, Consul General

of the Republic of Singapore at Chennai

(August 22, 2013)

 

Mr. C.S. Muthu Subramaniyan (Standing), President of the Chamber; (R to L) Mr. Roy KHO, the new Consul General;

Mr. C. Sarat Chandran, Director of the Chamber; Mr. Ajit Singh, Consul General of the Republic of Singapore

and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

The Chamber hosted a function to bid farewell to Mr. Ajit Singh on his moving over to Mumbai in October 2013. Mr. C.S. Muthu Subramaniyan, President of the Chamber appreciated Mr. Singh’s great involvement in the activities of the Chamber in the pas 7-1/2 years of tenure at Chennai and his close relationship with all trade organization in the Southern region. He also welcomed Mr. Roy KHO, the Consul General of the republic of Singapore- designate and assured Chamber’s co-operation to home in strengthening the trade relations between India and Singapore.

On behalf of the Chamber, Mr. C.S. Muthu Subramaniyan, President, presented a momento to Mr. Ajit Singh and Mr. Roy KHO as a mark of esteem for them.

Mr. Singh applauded the different activities of the Chamber and cross association during his tenure of office at Chennai.

Mr. Roy KHO, in his reply expressed his happiness and thanked the Chamber for the reception.

In addition to Committee Members of the Chamber, the function was also attended by Mr. A. Sabarullah Khan, Deputy High Commissioner, Sri Lanka Deputy High Commission, Chennai and Mr. Chanchai Charanvatnakit, Consul General, Royal Thai Consulate, Chennai

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Thai Trade Show and B2B Sessions

(July 11 -14, 2013)

 

Mr. C.S. Muthu Subramaniyan (right), President of the Chamber, presenting a bouquet of flowers to Mr. Chanchai

Charanvatnakit, Consul General, Royal Thai Consulate, Chennai, at the Thai Trade Show.

 

Thai Trade Show 2013 and B2B Sessions, organized by the Department of International tradepromotion (DITP), Ministry of Commerce, Royal Thai Government, was inaugurated by Mr. Chanchai Charanvatnakit, Consul General of Royal Thailand, on 11th July 2013 at Chennai Trade Center.

 

The Show was an annual event organized by DITP for the 10th consecutive year. It was an exclusive exhibition of Thailand products from various trading Thai companies. The products included Fashion Jewellery, Household & Kitchenware, Gift & Decorative Products, Educational Toys, Health & Beauty and more.

 

The inaugural session was attended by Mr. C.S. Muthu Subramaniyan, President; Mr. C. Sarat Chandran, Director; Mr. J. Elango, Treasurer and Mr. P. Gopalakrishna, Secretary of the Chamber.

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Reception in honour of the new Deputy High Commissioner of Sri Lanka in Southern India, Chennai

(June 4, 2013)

 

The Chamber organized a Reception in honour with Mr. A. Sabarullah Khan, new Deputy High Commissioner of Sri Lanka in Southern India, at Hotel Taj Coromandel, Chennai.

 

Mr. A. Sabarullah Khan, Deputy High Commissioner of Sri Lanka in Southern India, Chennai addressing the members of the Executive Committee.

Seated (R to L): Mr. C. Sarat Chandran, Director; Mr. C.S. Muthu Subramaniyan, President and Mr. P. Gopalakrishna, Secretary of the Chamber

 

It was attended by members of the Executive Committee and senior officials from the Deputy High Commission of Sri Lanka in Southern India at Chennai. Mr. C.S. Muthu Subramaniyan, President of the Chamber, congratulated Mr. Khan on his assuming the office and narrated the activities of the Chamber.  He also assured the Chamber’s co-operation to him for development of business relations between India and Sri Lanka. Mr. Khan, in his reply, thanked the President for giving opportunity to meet the Executive Committee members and assured his support to the Chamber.  Mr. C. Sarat Chandran, Director of the Chamber proposed the vote of thanks.

 

The Dinner was hosted by Mr. Soundara Rajan, Vice- President of the Chamber. 

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Seminar on Connecting Singapore

(May 16, 2013)

 

Mr. Ajit Singh (second from right), Consul General of the Republic of Singapore, Chennai, interacting with the audience.

Others (R to L); Mr. C. Sarat Chandran, Director; Mr. C.S. Muthu Subramaniyan, President and Mr. P. Gopalakrishna, Secretary of the Chamber.

 

The Chamber organized a ‘Seminar on Connecting Singapore’ on May 16th, 2013 at Hotel Accord Metropolitan, Chennai. Mr. Ajit Singh, Consul General of Singapore at Chennai, delivered the Keynote Address. It was followed by presentations made by the representatives of the organizations connected to Singapore.

 

Mr. Ajit Singh, in his address, said that bilateral trade between Singapore and India has been SGD 29.8 billion and India is ranked 11 among Singapore’s top trading partners. Singapore has also emerged as one of the largest source of FDI inflow into India, it was the second largest investor in India in 2012.

 

The Consul General pointed out that Singapore is an ‘attractive investment, business, education and tourist destination’. Reasons are fourfold – (1) Singapore is an ever-evolving metropolis in the heart of Asia - a global city - reflecting the region’s future and ambition; (2) Singapore is a connected city because of the ease with which global markets can be accessed through its state-of-the-art infrastructure; (3). It is an “open city - to capital and enterprise and ideas. (4). Singapore has a good business and social infrastructure transparent government policy - making process, an efficient legal framework for settling disputes and a corruption free environment.

 

“We would like India to continue to be our partner in the growth story as much as we like to be part of India’s growth. We will continue to encourage Singapore companies to come to India. Similarly, cash-rich medium to large sized companies are currently undergoing a globalization wave in India. Singapore offers abundant opportunities for Indian private sector enterprises”, Mr. Singh added.

 

(L to R): Ms. Indra Suppiah, Centre Director, IE Singapore, Chennai; Mr. Arvind Ayyala, Centre Director,  EDB Singapore, Mumbai;

Mr. Sivakumar Arumugham, VP-SME Banking, DB S Bank Ltd, Chennai

 

Ms. Indra Suppiah, Centre Director, International Enterprise Singapore (IE Singapore), Chennai, in her presentation on ‘Partnering Singapore and Asia beyond’ narrated that IE Singapore is the government agency driving Singapore’s external economy, It spearheads the overseas growth of Singapore-based enterprises and promotes international trade. The agency also has a global network in about 38 locations, with presence in many emerging markets. She elaborated further the economy of Singapore and the opportunities to do business there.

 

Mr. Arvind Ayyala, Centre Director, Export Development Board Singapore (EDB), Mumbai, in his address on ‘Globalising Business through Singapore’, said that they create value-adding solutions for investors and companies in Singapore to ensure and safeguard the existence sustainable economic growth with vibrant business and good job opportunities. He gave an overview of the different sectors of the economy and narrated the existing minimal restrictions and tariffs for trading with and doing business in Singapore.

 

Mr. G.B. Srithar, Area Director, Singapore Tourism Board and Ms. Carol Ong, Manager, Singapore Airlines, who jointly made a presentation on ‘Your Singapore - Mixing Business with Leisure’, talked of looking to Singapore for rest and relaxation and gave compelling presentations on visiting Singapore not merely as a tourist but for a transformational experience. Singapore Airlines is now operating 99 weekly flights from 12 cities in India to Singapore and it has become a key aviation hub for India.

 

Mr. Sivakumar Arumugham, VP- SME Banking of DBS Bank Ltd., said that DBS Bank provides a full range of services in consumer, SME and corporate banking activities across Asia. In India, DBS opened its first branch in 1995 and is headquartered in Mumbai. DBS offers innovative and comprehensive financial solution to small and medium-sized enterprises (SMEs), financial institutions and several local and global blue-chip companies.

 

(L to R): Ms. Carol Ong, Manager, Singapore Airlines, Chennai; Mr. G.B. Srithar, Area Director, Singapore Tourism Board, Mumbai

and Mr. A. Lakshminarayana, Vice- President, Coastal Energy Pvt. Ltd, Chennai

 

Mr. A. Lakshminarayana, Vice-President, Coal & Oil Group, Chennai, in his presentation on ‘A Singapore Story in Tamil Nadu’, said that the Group is a Rs. 2400 crores (US$ 550 million) Integrated Energy Company involved in various aspects of Energy supplies including Coal trading, Mining, Shipping, Logistics and Power Generation. The Group has been sourcing quality Coal and shipping to over 30 ports in India, Pakistan and Africa. Coastal Energen Pvt Ltd (ENERGEN), the Power Generating Flagship Company of the Coal and Oil Group, is setting up a 1200 MW coal fired thermal power plant in the district of Tuticorin in Tamil Nadu.

 

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address, said that Singapore, ranked as the 17th wealthiest country in the world, is India’s largest trading partner among ASEAN countries and it is a major source of FDI inflows into India. Bilateral trade has expanded significantly since the conclusion of the Comprehensive Economic Cooperation Agreement in 2005 and it amounted to US$ 17.44 billion in 2010-11. Singapore became one of the world’s most prosperous countries with strong international trading links, its ports are of the world’s busiest in terms of tonnage handled and it is recognized as a hi-tech hub in the Asian continent.

 

Mr. C. Sarat Chandran, Director of the Chamber, in his concluding remarks, highlighted the

significant progress made by Singapore during the past two decades.

 

The Seminar was co-sponsored by Coal and Oil Group, Hindustan University and DBS Bank. The event was well attended and covered by the media.

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Interactive Meeting with the new Ambassador of Indonesia

(January 28, 2013)

 

The Chamber organized an Interactive Meeting with the new Indonesian Ambassador in New Delhi His Excellency Drs. Rizail W. Indrakesuma, on 28th January 2013 at Hotel Residency Towers, Chennai.

 

In his address, His Excellency said that bilateral business promotion matters between Indonesia and India would be taken to the next level through the forming of a Comprehensive Economic Co-operation Agreement (CECA).

 

Stating that Indonesia was seized of the importance of India’s role in future and the benefits of closer bilateral engagement, Drs. Indrakesuma, on his part, promised to “knock on the doors of Jakarta” to expedite the Indonesian side’s responsibilities for firming up the Agreement. “The agreement is one of our top priorities,” he said.

 

His Excellency Drs. Rizali W. Indrakesuma, Ambassador of Indonesia in New Delhi, delivering his address.

 Mr. C.S. Muthu Subramaniyan, President of the Chamber, is also seen.

 

The Ambassador expressed his confidence that bilateral trade and investment, which had not taken off to potential, would shift gears in the coming years. Though it is currently pegged at about $ 20 billion, the bilateral business is projected to gross $ 45 billion by 2015 he added.

 

However, H.E Drs. Indrakesuma took a more realistic position stating that while the USD 40 billion target would certainly be achieved, 2015 as the target date seemed a bit too ambitious. Over six decades of bilateral engagement, Indonesia and India have not cooperated as intensely or maximized the potential in their economic relationship, he felt.

 

“If you go through the numbers, barring a few businesses and projects, the level of trade was not as much as one would expect from two large democracies who are friendly neighbours as well. There was also a lag … from the mid 1960s to the 1990s when both countries practically ignored each other, took one another for granted and overlooked the opportunities for partnerships,” he said.

 

His address was followed by lively interaction.

 

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address, made a presentation on the growth of trade between India and Indonesia during the past one decade.  Mr. C. Sarat Chandran, Director of the Chamber, presented the concluding remarks.

 

The meeting, arranged at a short notice of three days, was well attended by the Executive Committee Members of the Chamber and widely covered by the media.

 

The event was co-sponsored by Coastal Energy Pvt. Ltd.

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Interactive Meeting with The Ambassador of Socialist Republic of Vietnam

(July 20, 2012)

 

His Excellency Mr. Nguyen Thanh Tan (second from right), Ambassador of Socialist Republic of Vietnam, is seen with

(L to R) Mr. P. Gopalakrishna, Secretary; Mr. C. S. Muthu Subramaniyan, President and Mr. C. Sarat Chandra, Director of the Chamber

 

The Chamber organised an Interactive Meeting with His Excellency Mr. Nguyen Thanh Tan, Ambassador of Socialist Republic of Vietnam in New Delhi, at Hotel Accord Metropolitan, Chennai.

 

His Excellency, in his address, said that about 160 Indian companies are functioning in Vietnam at present strengthening India and Vietnam relationship. A direct flight is likely to be introduced during this year for which the MoU between Jet Airways and Vietnam Airlines is expected to be signed shortly.

 

The present bilateral trade is at $ 3.9 billion and by 2015, it is expected to reach the target of 7 billion.  He pointed out that in 2010, a bilateral trade relation was at $ 2.7 billion and it had doubled within one year.

 

His Excellency said that Tata Group is holding negotiations with Government of Vietnam to set up steel factory there with an investment of $ 5 billion.  Tata has already signed a MoU in 2007 with the Government of Hatinh Province to set up a steel factory and that negotiations are going on for the same between the two countries.

 

India is one of the largest exporters to Vietnam, which ships auto components, rubber, pharmaceuticals among others, while it imports tea, coffee, mobile phone equipments, wheat and tobacco products from Vietnam, the Ambassador added.

 

Mr. Ngo Quang Trung, Second Secretary to the Ambassador of Socialist Republic of Vietnam, made an impressive presentation on tourism in Vietnam.

 

Earlier, Mr. C.S. Muthu Subramaniyan, President of the Chamber, in his welcome address, said that Vietnam adopted an overall economic renovation policy, popularly called “Doi Moi’ in 1986, which aims at shifting economic priority from heavy industry to three major economic programmes, namely, production of foods & consumer goods and increase exports; reducing state intervention in business; and encouraging foreign and domestic growing economies in the world.  Agriculture has developed significantly, transforming Vietnam from a net food importer to the World’s second largest exporter of rice.

 

Vietnam continues to be an attractive investment destination for Indian companies. Several Indian companies have invested in sectors as diverse as oil and gas, steel, minerals, tea, coffee, sugar and food processing in Vietnam.  OVL, Essar Exploration and Production Ltd, Nagarjuna Ltd, Venkateswara Hatcheries, Philips Carbon and McLeod Russell are some of the major investors, he added.

 

Mr. C. Sarat Chandran, Director of the Chamber, presented the Concluding Remarks.

 

The meeting was well attended and covered by electronic and print media. The Chamber thanks Indian Overseas Bank and C & O Group for co-sponsoring the Interactive Meeting.

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Seminar on "Business Opportunities in Thailand"

(March 13, 2012)

 

Mr. Chanchai Charanvatnakit, Consul General, Royal Thai Consulate General, Chennai, delivered the Keynote Address at the Seminar, organized by the Chamber at Hotel Taj Coromandel, Chennai.

 

Mr. Chanchai Charanvatnakit, in his address, said that bilateral trade between India and Thailand grew from US $ 4.7 billion in 2007 to US $ 8.2 billion in 2011, almost a double during last 4 years — India’s major exports to Thailand are Gem and Jewellery, other metal ores/waste/scrap, chemicals, machinery/parts, vegetables, vehicle parts, electrical household appliances, pharmaceutical products, seafood, yarn and fibers, iron/steel, electrical machinery/parts, finished oils, fertilizer/pesticide and fabrics. In return, India’s major imports from Thailand are chemicals, polymers of ethylene, propylene, machineries, motor cars/parts, spark-ignition reciprocating internal combustion piston, gems & jewellery, rubber, computers/parts, iron/steel, sugar, air conditioners/parts and aluminium products.

 

Mr. Chanchai Charanvatnakit, Consul General, Royal Thai Consulate General, Chennai, addressing the members of the Chamber.

Seated (L to R) Mr. P. Gopalakrishna, Secretary of the Chamber;  Dr. Chavalit Rojjanaprapayon, Director, Thai Trade Center, Chennai;

Mr. C. S. Muthu Subramaniyan, President; Mr. C Sarat Chandran, Director of the Chamber and

Mr. Sethaphan Buddhani, Director, Tourism Authority of Thailand, Mumbai.

 

While turning to investment between India & Thailand, the Consul General said, India’s private sector has invested in Thailand in the fields of heavy industry, chemicals and petrochemicals with total investment value of USD 111.70 million from 15 projects in 2009.  Last year alone, investment applications from India received at Thailand’s Board of Investment were valued at US $ 60 million.  Big Indian companies such as Birla Group, Tata Motors and Indorama have invested in Thailand”, he added.

 

Thereafter, impressive presentations were made by: Dr. Chavalit Rojjanaprapayon, Director, Thai Trade Center, Chennai -- “India-Thailand Trade Relations; Mr. Sethaphan Buddhani, Director,  Tourism Authority of Thailand, Mumbai -- “India-Thailand Tourism; Mr. Rajani Jaganathan, Head- Business Operations, Lucky Group, Chennai -- “My Expat Experience in Thailand” and Mr. Vidhyashankar Sriram, Commercial Bank Specialist, Citibank, Chennai -- “Citibank-- Global Services and Connecting India and Thailand”.

 

Seated (L to R): Mr. C. Sarat Chandran, Director of the Chamber; Dr. Chavalit Rojjanaprapayon,  Director, Thai Trade Center, Chennai; Mr. Chanchai Charanvatnakit, Consul General, Royal Thai Consulate General, Chennai; Mr. C.S. Muthu Subramaniyan, President of the Chamber; Mr. Tajtai Tmangraksat, Deputy Consul General,Royal Thai Consulate General,  Chennai and Mr. Sethaphan Buddhani, Director,  Tourism Authority of Thailand, Mumbai.

 

Standing (L to R): Mr. Rajani Jaganathan, Head- Business Operations, Lucky Group, Chennai; Mr. S.K Hazari, Former President and Mr. P. Gopalakrishna, Secretary of the Chamber; Ms. Chantana Seelsorn Lao, Consul, Royal Thai Consulate General, Chennai; Mr. Vidhyashankar Sriram, Commercial Bank Specialist, Citibank, Chennai and Mr. J. Elango, Treasurer of the Chamber.

 

While Mr. C.S Muthu Subramaniyan, President of the Chamber, delivered the welcome address, Mr. C. Sarat Chandran, Director of the Chamber, presented the concluding remarks.

 

The event was co-sponsored by Citibank N.A and Coal & Oil Group, Chennai, and well attended by both members and non-members.

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Bidding farewell to Mr. Vadivel Krishnamoorthy

Deputy High Commissioner of Sri Lanka in Southern India

(February 27, 2012)

 

Mrs & Mr. Vadivel Krishnamoorthy (seated 2nd and 3rd from left) are seen with

members of the Executive Committee of the Chamber with special invitees

 

The Chamber organized a meeting on 27th February 2012 at Hotel Residency Towers, Chennai, to bid farewell to Mr. Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Southern India, who was transferred to Sri Lanka. On behalf of the Chamber, Mr. C.S Muthu Subramaniyan, President, presented a memento to Mr. Vadivel Krishnamoorthy.

 

The meeting was attended by members of the Executive Committee of the Chamber and special invitees.

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Meeting with Mr. Janaka Ratnayake

Chairman, Sri Lanka Export Development Board

(December 16, 2011)

 

Mr. Janaka Ratnayake (second from left), Chairman, Sri Lanka Export Development Board, interacting with the audience.

Others: (L to R) Mr. C. Sarat Chandran, Director and Mr. B.K. Achan, Vice-President of the Chamber; H.E. Mr. Vadivel Krishnamoorthy,

Deputy High Commissioner of Sri Lanka in Southern India and Mr. S.K. Hazari, Past President of the Chamber.

 

A meeting with Mr. Janaka Ratnayake, Chairman, Sri Lanka Export Development Board, Colombo, was jointly organized by the Sri Lanka Deputy High Commission in Southern India and our Chamber at Hotel Taj Coromandel, Chennai. Mr. Ratnayake made a presentation on their forthcoming “Sri Lanka Expo 2012” to be held from 28th to 30th March 2012 at Colombo.

 

Mr. Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Southern India, actively participated and delivered the opening remarks.

 

The Sri Lanka Expo 2012, envisages the participation of around 300 companies including all the leading exporters in the industry. This will be an event to bring all the leading exporters associated with the strategic export sectors to showcase their export products and services on one flat form. It is also targeted to attract over (1000) thousand buyers covering all the market regions including India.

 

Mr. Janaka Ratnayake, in his address, said that they are holding the Expo after a gap of 15 years to increase the export volume with India, to convert Sri Lanka as the next best investment destination and tourist centre.

 

“After 30 years of conflict, we have created conducive environment with political stability for business investment. We are growing at a rate of 8.5 per cent per annum, even as big nations are facing a slowdown. There are good number of opportunities in sectors such as electronic products, ICT/ KPO/ BPO, gems and jewellery, cinnamon and spices, apparels, tea and fisheries. We invite the Indian businessmen to look at Sri Lanka seriously”, he added.

 

Noting that the trade deficit with India, which was around $2.4 billion last year, we set to touch $3 billion, Mr. Ratnayake said “this is our concern. We are here to convince and invite trading partners and investors to look at Sri Lanka as the next investment destination. We have road shows for the exposition in U.K., Middle East and Europe. In India, it was held in New Delhi and Mumbai. We received enquiries for plantation, ICT and BPO sectors. This is also an opportunity for SMEs and other manufacturers to display their products, networking, business-to-business meetings and industrial visits”.

 

Sri Lanka aimed to attract Foreign Direct Investment of $15 billion by 2015 and $20 billion by 2020 and opportunities existed in fields of infrastructure, tourism and hospitality.

 

Mr. Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Chennai, in his opening remarks, said that the confidence of international investors in Sri Lanka was improving steadily. Besides, international rating agencies had upgraded Sri Lanka’s sovereign ratings and its outlook in a positive direction for the second consecutive year.

 

While inviting Indian businessmen to help Sri Lanka maintain sustainable trade balance between trading partners, he said that the main objective of Sri Lanka Expo 2012 was to address the imbalances globally as well as with individual trading partners.

 

On the tourism front, he said that from January to October 2011, about 1.38 lakh Indian visited Sri Lanka, marking an increase of 45 per cent over the previous year. Sri Lankans increasingly saw Tamil Nadu as their favourite destination for medical treatment and shopping. Sri Lankan Airlines had also launched its fourth direct daily flight from Colombo to Chennai recently.

 

Audience at the Meet

 

Mr. C. Sarat Chandran, Director of the Chamber in his Welcome address, said “Sri Lanka is now at the cross-roads of history. After a protracted civil war that lasted about a quarter century. Sri Lanka is now moving ahead making rapid strides in the economy, turning a traditional plantation economy into one of the most vibrant and sophisticated economies in the world in a stunning transformation”. He urged the Sri Lanka Export Development Board to re-open the Trade Centre in Chennai to showcase Sri Lankan products following change in business and investment environment.

 

Mr. S.K. Hazari, Past President of the Chamber, introduced Mr. Janaka Ratnayake and Mr. B.K. Achan, Vice-President of the Chamber, proposed vote of thanks.

 

Expo 2012 will be held in BMICH, Colombo from March 28 to 30 -- Investment Forum on March 28, Trade Symposium on March 29 and Forum on Tourism on March 30. The Fair is expected to be attended by around 300 companies and it is targeted to attract over 1,000 buyers (For details please visit: www.srilankaexpo.com).

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Meeting with Mr. K. Raghu Ram, I.F.S., First Secretary (Designate),

Deputy Indian High Commission in Jaffna, Sri Lanka

 (May 12, 2011)

 

Mr K. Raghu Ram, IFS (third from right), First Secretary (Designate), Deputy Indian  High Commission, Jaffna, is seen with (L to R): Mr. P. Gopalakrishna, Secretary of the Chamber, H.E. Mr. Vadivel Krishnamoorthy, Deputy High Commissioner for Sri Lanka in Chennai;  Mr. C.S. Muthu Subramaniyan, President;  Mr. S.K. Hazari, past President and Mr. J. Elango, Treasurer of the Chamber.

 

The Chamber organized a meeting with Mr. K. Raghu Ram, IFS, Deputy Secretary, Ministry of External Affairs, Government of India, Chennai, on his appointment as the First Secretary (Designate), Deputy Indian High Commission in Jaffna, Sri Lanka.  This meeting was held at Hotel Savera, Chennai.  It gave an opportunity to members to offer suggestions for development of business relations between India and Sri Lanka, in particular Jaffna.  H.E. Mr. Vadivel Krishnamoorthy, Deputy High Commissioner for Sri Lanka in Chennai, attended the meeting as a Special Guest.

 

Mr. C.S. Muthu Subramaniyan, President, India-ASEAN-Sri Lanka Chamber of Commerce & Industry (IASLCCI), in his welcome address, congratulated Mr.Raghu Ram, on his elevation to the position of First Secretary at the Deputy Indian High Commission in Jaffna and narrated the close relations of IASLCCI with Chambers of Commerce in Sri Lanka, especially in Colombo and Jaffna.  He appreciated the Government of India for opening an office of the Deputy High Commission in Jaffna, which is now being developed by Sri Lankan Government by offering attractive incentives for setting up industries and facilities for the business community at large.  He further said that Indian Bank recognized growing trade in Jaffna and opened its branch in the city recently.

 

The President pointed out that the demand for buses and trucks had been increasing in the recent past in view of the rise in commercial activities, and  that Lanka Ashok Leyland, which is an Indian company, is building and supplying the required type of vehicles.

 

Mr. Somi Hazari, past President of IASLCCI, while introducing the Chief Guest, Mr.Raghu Ram, I.F.S., said that trade relations between India and Sri Lanka has been growing for the past few years and setting up of the office of Deputy Indian High Commission at Jaffna is a boon to the Indian business community.

 

H.E. Mr. Vadivel Krishnamoorthy, in his address, highlighted the measures being taken by the Sri Lankan Government for industrial development and its keen interest in promoting business relations between India and Sri Lanka.  He assured the full cooperation of his office to the Chamber for strengthening the two-way trade between the countries and that regulations for issue of Business Visa to his country has been simplified.

 

Mr. Raghu Ram, thanked the Chamber for organizing the meeting to interact with the business community and invited the members to offer suggestions to further promote the trade relations between the two countries.

 

Mr. J. Prasad Davids, retired Advisor and Secretary of Southern Indian Chamber of Commerce & Industry, Mr. Gamini Wickramasinghe, Chairman, Bank of Ceylon, and several others offered suggestions.

 

On behalf of the Chamber, H.E. Mr. Vadivel Krishnamoorthy, Deputy High Commissioner for Sri Lanka in Chennai, presented a memento to Mr. K. Raghu Ram.

 

Mr. J. Elango, Treasurer of the Chamber, proposed a vote of thanks.

 

The meeting was attended by members and non-members of the Chamber.

 

India and China have emerged today as the two most powerful and influential Asian nations in terms of their economic capabilities and geopolitical standing.  Singapore has a special relationship with both of them.  Business alliances between Singapore and these two countries have been long-standing and constructive.  International companies cognizant of Singapore’s attributes and links with India and China have chosen Singapore to be the base for their ventures into these two Asian giants and their respective regions.  Singapore has the potential to be India’s springboard into China and East Asia, and China’s venture into India and the sub-continent.

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