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Published by Worldex India Exhibition & Promotion Pvt. Ltd., 2022-07-06 04:19:49

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Final Annual Report -test

(formerly Indian Merchants’ Chamber)

114th
Annual Report

2021-22

ENGAGING MAHARASHTRA, BUILDING INDIA

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CONTENTS

Foreword............................................................................................................................................................................. 4
IMC – Board of Directors and Managing Committee 2021-22 ....................................................................................... 9
IMC – Past Presidents ..................................................................................................................................................... 15
IMC – Governors, Trusts & Trustees .............................................................................................................................. 17
IMC Secretariat................................................................................................................................................................. 18
Chamber’s Representatives on Public Bodies................................................................................................................ 19
Proceedings of the 113th Annual General Meeting......................................................................................................... 21
Flagship Events................................................................................................................................................................ 33
IMC – Expert Committees & Activities ........................................................................................................................... 57
Press Coverages............................................................................................................................................................ 139
IMC – Representations .................................................................................................................................................. 157
IMC – Ladies’ Wing........................................................................................................................................................ 163
IMC – Ladies’ Wing Flagship Events ........................................................................................................................... 165
IMC – Ladies’ Wing Committees & Activities ............................................................................................................... 167
Event Listing .................................................................................................................................................................. 189

IMC Chamber of Commerce and Industry
IMC Building, IMC Marg, Churchgate, Mumbai-400 020
Tel: 91-22-7122 6633 | Fax: 91-22-2204 8508, 2283 8281 | E-mail: [email protected] | Web Address: http://www.imcnet.org
Andheri Office
405, “Centre Square” A-Wing 4th Floor, S. V. Road, Andheri (West), Mumbai-400 058
E-mail : [email protected] | Tel. : 91-22-2623 1937 | Telefax : 91-22-2670 3689
Navi Mumbai Office
The Commodity Exchange, Room Nos. 616 & 617, 6th Floor, Plot Nos. 2, 3 & 4, Sector 19A, Vashi, Navi Mumbai-400 705
Tel : 91-22-2784 2466 | Telefax : 91-22-2784 2467 | E-mail : [email protected], [email protected]
New Delhi Office
16A, 16th Floor, Atma Ram House 1, Tolstoy Marg, New Delhi-110 001
Tel. : 91-11-23730978 | Fax : 91-11-23730979 | E-mail : [email protected]

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FOREWORD

JUZAR KHORAKIWALA, President, IMC Chamber of Commerce and Industry

I present this Annual Report engagements under the leadership of our Hon’ble Prime
of the Chamber for the Year Minister are indicative of the fact that the government is
2021-22 with a profound apprised of the situation.
sense of privilege and pride
to have had the opportunity Besides these, there are some advantages that will
to serve as President of work in favour of India to weather the storm. Global
such a great institution. companies are diversifying supply chain and looking
to shift manufacturing from China. To capitalize on
As I look back on my term this trend, the government has rolled out incentives of
as the president of IMC 1.97 lakh crore for investment in manufacturing in 14
which began in the first half sectors. This policy is currently has the intended effect of
of August 2021, I find the attracting multinationals to establish their manufacturing
period very satisfying and base in India, thereby generating employment and
educative, both in terms exports. Local big companies are also planning to
of the Chamber’s operations and the Indian economy invest in a big way in manufacturing and emerging
- both showing progressive signs of returning back to industries, with the intention of developing the local
pre-pandemic level. supply chain. India’s IT industry makes the country the
world’s fifth biggest exporter of services and the growth
Despite a setback due to the pandemic during the last in its revenue is likely to continue. The large single
two years, the economy is firmly back on track and has market, schemes like Production Linked Incentives (PLI),
been the fastest growing amongst large economies. technological supremacy, modern physical and digital
This is thanks to calibrated measures taken by the infrastructure and proactive government responses are
government of India during the pandemic. factors that will help India to continue to grow despite
temporary hiccups and improve the lives of 1.4 billion
Exports are breaching previous records; GST collection people; it will make India pivotal to the geopolitical
surpassing all other previous highs; there is a five-fold balance of power.
increase in manufacturing investment in the last two
years; India registered the highest ever annual foreign The Chamber’s operations during the year transited
direct investment (FDI) Inflow of $81.97 billion in the from completely digital to “phygital”, and now mostly
financial year 2020-21; India is world #2, after US, physical. The activities are now mostly in-person. We
among countries with emerging unicorns. A normal had a very tough last two years, but we sailed through
monsoon has been forecasted this year too. These are with solid support from our members who continued their
all good signs. patronage in difficult times. We are thankful to them for
their support.
However, the disruption caused by the Russia-Ukraine
conflicts has been a cause of great concern. Global I would like to mention here that the Chamber, since
food and oil Inflation is hitting India hard too. The world its inception in 1907, has evolved into an institution
is staring at a recession. With strong macro-economic keeping pace with the times by adapting itself to
fundamentals, India has the resilience to navigate contemporary trends, while at the same time continuing
this crisis. Thankfully, both Reserve Bank of India and on the path of its proud legacy of over a century in the
the Government of India are alert about this. The off- service of nation building and simultaneously fulfilling
cycle raising of Repo Rate by RBI, push for bilateral its responsibility towards the welfare and wellbeing of
agreements by the government and strategic diplomatic society. The Chamber is now a cradle for nurturing

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young talents and promoting emancipation of women thought leaders from diverse domains to engage in
through Young Leaders’ Forum and Ladies’ Wing which discussions on topical issues for the benefit of our
have become the embodiment of youth enterprise, members. They included:
positivism, proactive thought leadership, and movement
for women empowerment and entrepreneurship. • Address by Shri Iqbal Singh Chahal, Municipal
Commissioner, Municipal Corporation of Greater
This Annual Report has captured all the activities the Mumbai on Innovative Management of Covid-19
Chamber organized for the benefit of its members through Accountable & Dynamic Leadership
during my presidential year. All activities and events
that the Chamber organizes during any year are • Fireside Chat with Shri Rajnish Kumar, Former
geared towards providing better understanding of Chairman of State Bank of India on Custodian of
policies, raising awareness on issues and concerns of trust - Views on financial happenings, moderated
industry in diverse areas, financial literacy and market by Shri Deepak Premnarayen, Past President of
awareness, value creation, facilitating bilateral trade IMC and Executive Chairman, ICS Group
and investment collaborations and showcasing India
as attractive option for global businesses to establish • Fireside Chat with Ms. Vinita Bali, former
and expand their operations in India. Also recognizing Managing Director & CEO, Britannia Industries
achievements, engaging with local authorities, state Limited on It’s the responsibility of business to
and federal governments, giving policy inputs and be responsible, moderated by Ms. Vibha Kagzi,
recommendations on various issues to the government. CEO, ReachIvy.com
Such year round activities of dialogues and discussions
with eminent business, political, societal and government • Fireside Chat with Shri Gurcharan Das, Author,
leaders on a wide range of issues to create environment Commentator, Thought Leader, former MD, Procter
for sustainable economic and social development is a & Gamble on Union Budget, moderated by Shri
uniquely enriching, knowledge sharing and relationship Deepak Premnarayen, Past President, IMC and
building experience. Executive Chairman, ICS Group

All the activities during the year as chronicled in this • Address by Dr. M. D. Patra, Deputy Governor,
Annual Report have added value in their own way. I Reserve Bank of India on Taper 2022: Touchdown
would like to mention some of them here. Most of the in Turbulence
events were held virtually and hence bear with us for
picture quality. In many cases, therefore, we have put • Fireside Chat on India’s Tourism Strategy &
photographs of speakers only. Growth Post COVID-19 with Shri Arvind Singh
(IAS) Secretary, Ministry of Tourism, Government of
Representations India, moderated by Shri Farhat Jamal, Chairman,
IMC Travel, Tourism and Hospitality Committee
We made several recommendations to the government
such as pre-budget and post-budget memorandum, • Talk on Happiness-Centric Leadership by Shri
compliance burden being faced by MSMEs, concerns Avinash Ananda, Leadership and Happiness Guru
of bulk drug industry in Maharashtra, RoDTEP Scheme
to incentivise exports, suggestions for Correct Risk • Talk on Business Imperatives of Good Corporate
Assignment for MSME (Exporters) & Fiscal Impact, Governance by Shri Ashok Soota, Executive
GST rates on textiles, request for relief from unintended Chairman, Happiest Minds Technologies Limited
adverse impact of Rule 11UAE of the Income-tax Rules, and Smt. Shyamala Gopinath, Independent
1962 for slum sale transactions, representation on Woman Director of BASF India Limited and former
provisions relating to Charitable Trust in the Finance Bill Deputy Governor, RBI
2022, and recommendations relating to the indirect tax
proposals in the Finance Bill, 2022, among others. Foundation Day

Thought Leadership Series The Chamber celebrated its 115th Foundation Day
on September 7, 2021. On this occasion, Mrs. Kiran
As part of our value creation initiative, the Chamber Mazumdar-Shaw, Executive Chairperson, Biocon and
introduced the Thought Leadership Series. We invited Biocon Biologics delivered the Foundation Day Address
on Capitalism to Compassionate Capitalism. Speaking
on the subject, Mrs. Mazumadar-Shaw said that the

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corporate world has been changing rapidly, and the Ramkrishna Bajaj National Quality Award
traditional model of profit driven capitalism is certainly no
longer fashionable, making way for the idea of tackling The annual IMC Ramkrishna Bajaj National Quality
compassionate capitalism. Awards and IMC Juran Quality Medal presentation
ceremony recognized a few exemplary Indian
Delegation to Dubai organizations. The IMC Juran Quality Medal was
conferred on renowned scientist Dr K Sivan, Vikram
IMC took a 30-member business delegation to Dubai in Sarabhai Distinguished Professor and former Secretary,
November 2021. The purpose of taking this delegation Department of Space and former Chairman, Space
was to take advantage of the global congregation at the Commission. Mr Harsh Mariwala, Chairman, Marico
Expo 2020 in Dubai so that delegates get the opportunity Limited and CMD, Kaya Limited presented the awards
to explore what various countries offer in terms of trade and delivered Keynote Addresses.
and investment, as well as explore opportunities for
investment and collaboration between India and UAE. India Calling Conference 2022

The delegation comprised of high-profile business IMC Chamber of Commerce and Industry organized
leaders representing diverse sectors like agriculture, Food its annual India Calling Conference on the theme
Processing, Shipping and Logistics, Pharmaceuticals, ‘Unleashing Opportunities - Why Invest in India’ on
Healthcare, Cosmetics and Jewellery, Research Friday, May 06, 2022 on a 3D digital platform.
Consultancy and Finance.
The Conference was organized with the support of
The IMC delegation was the largest thus far from India the Economic Diplomacy Division of the Ministry of
to visit the India Pavilion at Expo 2020. Apart from the External Affairs, Government of India, and Invest Indi. The
visit to Expo 2020, other engagements during the visit Conference was sponsored by Reliance Industries, and
included a meeting with the Abu Dhabi Chamber of ET Now was the broadcast partner.
Commerce and Industry, Sharjah Chamber of Commerce,
meeting with His Highness Sheikh Hamdan bin Khalifa The Conference focused on the several measures and
Bin Hamdan Al Nehayan, and a networking dinner initiatives the government has taken to boost domestic
reception which was attended by Dr. Aman Puri, Consul and foreign investments in India, like reduction in
General of India in Dubai, Mr. Fahad AlGergawi, CEO of corporate tax rates, easing liquidity problems of NBFCs
Dubai Investment Development Agency and by the Who’s and banks, improving the Ease of Doing Business, FDI
Who of UAE the business community and Emiratis. policy reforms, reduction in compliance burden, PLI
schemes, and other policy measures to boost domestic
Oration under Pravinchandra V Gandhi Chair for manufacturing and foreign investment in India.
Banking & Finance
The Chief Guest Address was delivered by Shri Piyush
The 8th Oration under the auspices of the Pravinchandra Goyal, Hon’ble Union Minister of Commerce and
V Gandhi Chair for Banking & Finance was delivered Industry; Consumer Affairs; Food and Pubic Distribution
by Mr Aditya Puri, Former Managing Director, HDFC and Textile. Shri Pramod Sawant, Hon’ble Chief Minister
Bank on “Future of Banking” at the Convocation Hall of Goa and Shri Subhash Desai, Hon’ble Minister of
of the Mumbai University on March 29, 2022. Dr Suhas Industries and Mining, Government of Maharashtra also
Pednekar, Vice Chancellor of the Mumbai University also addressed the Conference apart from other eminent
spoke at the occasion. dignitaries.

The PVG Chair is the first of its kind to be set up by More than 800 delegates from India and over 50
any Chamber of Commerce in India. It was established countries around the world attended the Conference
with the objective of promoting applied and empirical hosted on a 3D digital platform. They included company
research on subjects which cater to the research needs representatives, CEOs, professionals, consultants, rating
of the banking and finance sector, with a view to gaining agencies, foreign diplomatic missions, Indian diplomats,
insights and broadening perception in these areas. media representatives and others.

6

Banking & Finance Conference [email protected], Vocal for Local, Indian Start-ups and Global
Perspective on Envisioning India’s future. We were once
The 12th IMC Banking & Finance Conference held on again honoured to have a personally signed message
June 16, 2022 at International Convention Hall at BSE. from Honourable Prime Minister Shri Narandra Modi
The theme was “Banking and Finance sector in India: congratulating IMC Young Leaders’ Forum for organizing
How is it poised to deliver sustainable growth in a Youth Conclave.
post pandemic world”. Shri M. Rajeshwar Rao, Deputy
Governor, Reserve Bank of India was the Chief Guest It has been a great experience for me serving a Chamber
and Shri S. S. Mundra, Chairman, BSE was the Guest with such a rich legacy. It is an honour to be in the
of Honour. The sessions at the conference had panel league of illustrious and renowned personalities who
discussions by top bankers from public sector banks and served and adorned the Chair of President since its
private sectors banks, CEOs of Fintech companies and inception in 1907 - something that I will cherish forever.
Private Equity firms.
For their support and guidance in making the year fruitful,
Digital Technology Award I extend my sincere gratitude to the Governors, members
of the Managing Committee, Past Presidents, Chairs and
IMC Digital Technology Award was organized on Co-Chairs and members of all the Expert Committees;
June 22, 2022 at IMC. The award categories were the Secretariat led by Director General Mr. Ajit Mangrulkar
Smart Tech Companies, Organizations Embracing with Deputy Director Generals Mr. Sanjay Mehta and Ms.
Digital Transformation, Government and Public Sector Sheetal Kalro. And also to all officers-in-charge and the
Companies which have Digital Strategies, and Lifetime support staff of IMC.
Achievement Award. The Lifetime achievement award was
conferred on Shri Vineet Nayyar, former Vice-Chairman, I thank all the members of the Chamber for their
Mahindra Tech. continuing patronage of the Chamber. We greatly value
your association.
IMC-YLF Youth Conclave
My best wishes to Mr. Anant Singhania, President-elect
IMC-YLF Youth Conclave was organized on June 24 and Mr. Sameer Somaiya, Vice President-elect. I am
and 25 from 2:30 p.m. to 5:30 p.m. The theme of confident that under their leadership, the Chamber will
the Conclave was “Ideating India @ 100: Voice of achieve greater Glory.
Youth.” This year, as the nation is celebrating Azadi
Ka Amrit Mahotsav, the Conclave was dedicated to the All the best.
commemoration of 75 years of India’s Independence.
The Conclave had focused discussions on various Juzar Khorakiwala
initiatives of the Government of India to propel the President
country towards the path of growth. The sessions at IMC
the Conclave will include deliberations by youth on new
initiatives like PM Gati Shakti (Making India the hub of
world class infrastructure), Climate-Smart India, Digital

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BOARD OF DIRECTORS & MANAGING COMMITTEE 2021-22
BOARD OF DIRECTORS

President Vice-President
Mr. Juzar Khorakiwala Mr. Anant Singhania

Mr. M K Chouhan Mr. Jinesh Shah Mr. Kishor Karia
Mr. Dilip Dandekar Mr. Shashin Shah Mr. Amitkumar G. Patni
Mr. Mark S. Fernandes Mr. Shaunak Thacker Adv. Sundeep Puri
Mr. Dhanpal Jhaveri Mr. Mahesh Thakkar Ms. Sunita Ramnathkar
Mr. Dinesh Joshi Mr. Ketan Dalal Mr. Anand Rathi
Mr. Yogesh M. Kothari Mr. Dushyant Dave Mr. Saurabh Shah
Mr. Atul Nishar Mr. Arvind Jolly Mr. Samir Somaiya
Mr. Anil Ruia Mr. Ashok Kadakia Mr. Ashish Vaid

Ex-Officio (Governors of the Chamber)

Mr. V B Haribhakti Mr. Niraj R. Bajaj Mr. Mahendra Sanghi
Mr. Ram P. Gandhi
Mr. Rohit Patel

Mr. Rajiv K. Podar MANAGING COMMITTEE MEMBERS
Mr. Gul Kripalani
Ms. Bhavna Doshi Co-opted Individuals
Mr. Shailesh Vaidya Mr. Ashishkumar Chauhan
Mr. Vijay Kumar Jatia
Mr. Pradip P. Shah

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Co-opted Chairmen of Committees

Mr. Aashish Barwale Dr. Ramakrishnan Ramamurthi
(Agriculture and Food Processing) (Industry & Trade)

Mr. Gautam T. Mehta Mr. Darshan Hiranandani
(Arbitration) (Infrastructure & Real Estate)

Mr. Arijit Basu Ms. Vibha Kagzi
(Banking and Finance) Knowledge (Skill & Education)

Mr. Hareesh Tibrewala Mr. Anand Desai
(Digital Technology) (Law)

Mr. Rajan Vora Mr. Prathamesh D. Popat
(Direct Taxation) (Mediation, Conciliation & Facilitation)

Mr. Atul Joshi Mr. R. K. Jain
(Economic Policy & Government Representation) (Navi Mumbai)

Mr. Supratik Sen Mr. Ramesh Iyer
(Entertainment, Media & Sports) (NBFC)

Dr. Mukesh Batra Mr. Farhat Jamal
(Health & Fitness) (Travel, Tourism & Hospitality)

Mr. Vikram Nankani
(Indirect Taxation)

Co-opted Associations

Mr. Vasant M. Kotadia Mr. Mahesh H. Doshi
Past President National President
(All India Stainless Steel Industries Association) (Indian Drug Manufacturers Association)
Mr. Ratankumar Poddar
Hon. Secretary Mr. Ajoykaant Ruia
(Bharat Merchants’ Chamber) President
CA Abhay Mehta (Indo-Vietnamese Chamber of Commerce & Industry)
President
(Bombay Chartered Accountants' Society) Mr. V P Vaishnav
Mr. Siddharth K. Desai President
Past President (Rajkot Chamber of Commerce & Industry)
(Bombay Industries Association)
Mr. Uttam Bagri Mr. Bipin N Shah
Chairman President
(Bombay Stock Exchange Brokers' Forum) (Thane Belapur Industries Association)
Mr. Manoj Patodia
(Cotton Textiles Export Promotion Council) Mr. Rahul Mehta
Chief Mentor
Mr. Vinesh Mehta (The Clothing Manufacturers Association of India)
President
(Federation of Associations of Maharashtra) Mr. Subash Gupta
President
Mr. Ravi Goenka (The Darukhana Iron Steel and Scrap Merchants'
President Association)
(Indian Chemical Council)
Mr. Ajit S. Panicker
President
(The Refrigeration and Air - Conditioning Trades
Association Ltd.)

Mr. Lalit S. Gandhi
President
(Western Maharashtra Chamber of Commerce, Industries,
Agro and Education)

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Mr. Tanil Kilachand Past Presidents
Dr. Y P Trivedi Dr. Niranjan Hiranandani
Mr. Pradeep B. Chinai Mr. Prabodh Thakker
Mr. Suresh Kotak Mr. Dilip G. Piramal
Mr. Shailesh Haribhakti Mr. Deepak Premnarayen
Mr. Nanik Rupani Dr. Lalit S. Kanodia
Mr. Nayan Patel Mr. Raj Nair

Mr. Dilip Dalal Special Invitees
Mr. Deepak Doshi Mr. Gaurav Sathaye
Mr. Tarun S. Haribhakti Mr. Dhaval Savai
Mr. Nandkishor Kagliwal Dr. Ram Hemant Shroff
Mr. Vijay Pramod Karia Mr. Shriprakash Shukla
Mr. Balfour Manuel Mr. Kishore J. Tanna
Mr. Sanjaya Mariwala Mr. Gautam Trivedi
Ms. Madhavi U. Vora

Mr. Sanjay Asher Annual Patron Members
(Crawford Bayley & Co.)
Mr. Gopa Kumar T N
Mr. Varunn Mody (Protean eGov Technologies Ltd. formerly known as
(Hindustan Composites Ltd.) NSDL e-Governance Infrastructure Ltd.)
Mr. Jayaprakash Rao Ms. Ruchi A. Patni
(ITC Ltd.) (Raay Global Investments Pvt. Ltd.)

Invitees on Reciprocal Basis

Mr. Sumant Sinha Mr. Santosh Mandlecha

President Past President

(The Associated Chambers of Commerce & Industry Of (Maharashtra Chamber of Commerce, Industry &

India) Agriculture)

Ms. Anjali Bansal Mr. Ravindra Boratkar

President President

(Bombay Chamber of Commerce & Industry) (Maharashtra Economic Development Council)

Mr. Pathik S. Patwari Mr. Ashish P. Gujarati

Hon. Treasurer President

(Gujarat Chamber of Commerce & Industry) (The Southern Gujarat Chamber of Commerce &

Industry)

Ms. Nishreen Khorakiwala Ms. Vidhi Doshi

President Chairperson

(IMC Ladies’ Wing) (Young Leaders’ Forum)

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