Hello Mumbai International Desk :
Date: September 20, 2024
Location: The Taj Mahal Palace, Mumbai
Theme: “Enhancing EU-India Business & Trade”
Introduction
The 32nd Annual General Meeting (AGM) of the Council of EU Chambers of Commerce in India took place on September 20, 2024, at the prestigious Taj Mahal Palace in Mumbai. This year’s theme, “Enhancing EU-India Business & Trade,” emphasized the importance of fostering strong economic ties between the European Union and India. The event attracted a diverse group of stakeholders, including business leaders, government representatives, and distinguished panelists, all committed to exploring avenues for collaboration and growth.
Welcome Address by Peeyush Kaushik, President
The session commenced with a welcome address from President Peeyush Kaushik, who expressed his deep sense of honor in welcoming attendees. He noted the unfortunate absence of the Chief Guest, Hon’ble Shri Eknath Shinde, Chief Minister of Maharashtra, due to prior commitments. However, Kaushik emphasized the significance of the AGM as a platform for dialogue and collaboration.
In his address, Kaushik introduced the esteemed panelists, highlighting their diverse backgrounds and the valuable insights they would contribute. He framed the theme of the AGM as a call to action, urging participants to think ambitiously and collaborate more deeply to create synergies that would benefit both the EU and India. His remarks underscored the importance of the EU-India relationship in an increasingly interconnected global economy.
Achievements and Reflections
Kaushik reflected on the Chamber’s achievements over the past year, noting its continued growth and commitment to serving its members. He highlighted that the year 2023-24 marked a significant milestone, celebrating 32 years of enhancing EU-India business relations. He acknowledged the collective efforts of past presidents, particularly Mr. Ashok Bharat, Capt. Avinash Batra, and Mr. KV Bala, whose leadership has been pivotal in guiding the Chamber through crucial phases.
As he prepared to pass the leadership to Rajeev Sharma, Kaushik expressed pride in the relationships established with various state governments, including Maharashtra, Gujarat, and Uttar Pradesh. He conveyed confidence that the incoming leadership team, under Sharma, would continue to advance the Chamber’s projects and pursue new opportunities with vigor. Kaushik concluded his speech with heartfelt appreciation for the EU Ambassador and the dedicated team at the EU Chambers, led by Dr. Renu Shome, reiterating the importance of focusing on future opportunities.
Presentation on Activity and release of Activity Report by Dr. Renu Shome, Director
Following the welcome address, Dr. Renu Shome, Director of The Council of EU Chambers of Commerce, delivered a presentation on the activity of chambers followed by the release of Activity report. She provided an overview of the Chamber’s initiatives over the past year, highlighting key projects, collaborations, and the impact of various programs aimed at enhancing EU-India business relations.
Vote of Thanks by Rajeev Sharma, Incoming President
Rajeev Sharma, the newly elected President, expressed his gratitude to attendees for their presence and participation. He reiterated the importance of the Chief Guest’s support in fostering economic growth and international partnerships. Sharma recognized the distinguished panelists, emphasizing their critical role in exploring new avenues for enhancing EU-India business relations.
Sharma extended his appreciation to Peeyush Kaushik for his exceptional leadership, highlighting the impactful contributions made during his tenure. He reaffirmed the Chamber’s commitment to its members and acknowledged their unwavering support as the foundation of the Chamber’s success. Sharma expressed enthusiasm for the collaborative journey ahead, emphasizing the goal of deepening EU-India business ties.
Acknowledgments
In his closing remarks, Sharma extended sincere thanks to the sponsors whose generosity made the AGM possible, including:
Platinum Sponsors: G4S An Allied Universal® Company, HSBC, and Punjab Chemicals & Crop Protection Ltd.
Gold Sponsors: Atlantic Global Shipping Pvt. Ltd , All Cargo Logistics Limited, Sunrich Safaris.
Silver Sponsors: Philips Ltd., Indus Finance, Seahorse Ship Agencies Pvt. Ltd., Haropa Port, Tata Chemicals Ltd., Samson Controls Pvt. Ltd., Fresh Food Technology India Pvt. Ltd., Sri Kaliswari Metal Powders Pvt. Ltd., Haldiram Snacks Pvt. Ltd., Swift Edutech Solution Pvt. Ltd., and Pentagon Marine Services Pvt. Ltd.
Kit Sponsor: Malmo
Gifting Partners: 3 Sisters, Super Munchies, Fayth Clinic, Bikaji Foods International Limited, Radisson Hotels, Moxy Steel Impex, and United Distributors.
Quencher Sponsors: Aspri Spirits and Hoegarden.
Kit Partner: Malmo Exports Pvt. Ltd.
Sharma also acknowledged the contributions of gifting and quenching partners for their thoughtful support. Furthermore, he recognized the efforts of the EU Ambassador, government officials, and the Chamber’s team, particularly Dr. Renu Shome, for their dedication in organizing the event.
Opening Remarks and Panelist Insights
The discussion commenced with warm opening remarks from the moderator, Mr. Robin Banerjee, Chairman of Nucleon and Incoming Vice-President of the Council. He set the stage for an engaging dialogue focused on the importance of sustainability in trade and the future of EU-India relations. Following his introduction, Banerjee initiated a panel discussion with a series of questions aimed at eliciting insights from the esteemed panelists.
Panelist Insights
Mr. Raj Kumar Jha, Managing Director, Thyssenkrupp India Pvt. Ltd. (Germany)
Raj highlighted the significance of sustainability in India’s economic growth. He discussed the impact of carbon credits and deforestation on compliance with European standards. Jha emphasized the necessity for collaboration between Indian exporters and the EU to meet new regulations, particularly the Carbon Border Adjustment Mechanism (CBAM), which affects approximately 9.91% of India’s total exports to the EU, especially in the aluminum and steel sectors. He also raised concerns about the challenges small and medium enterprises (SMEs) may face in meeting compliance requirements due to limited access to technology and finance.
Ms. Manasi Pandey, Managing Director, Country Head of International Subsidiary Banking, HSBC India (UK)
Ms. Pandey discussed HSBC’s long-standing presence in India and how the bank leverages its global network while investing deeply in the local economy. She highlighted that India’s relevance to HSBC is at an all-time high, supported by a robust employee base and diverse financial services. Ms. Pandey noted a trend of near-shoring from Europe to India, with many businesses seeking to establish operations in India to meet market demands. She elaborated on HSBC’s comprehensive suite of products designed to provide a standardized experience for clients across regions, emphasizing the bank’s commitment to supporting companies of all sizes.
Mr. R. Venkatesh, Managing Director, Wartsila India (Finland)
Venkatesh introduced the D-E-I-S-I initiative, focusing on Digitalization, Education, Innovation, and Sustainability, aimed at fostering closer ties between European companies and India. He discussed the critical role of European companies in helping India achieve its ambitious target of over 500 GW of non-fossil fuel energy sources by 2030. He stressed the importance of developing robust energy management solutions and highlighted the need for innovative R&D to support India’s transition to renewable energy, aligning it with Finland’s target of reaching net-zero emissions by 2035.
Mr. David Stevenson, Regional Director, Guala Closures India (Italy)
Stevenson shared insights into Guala Closures’ operations in India, highlighting the company’s growth from a small manufacturing unit in Goa to a significant presence with over 1,400 employees. He discussed the advantages of operating in India, such as its youthful population and the premiumization trend, which presents significant market potential. However, he acknowledged the complexities of navigating India’s diverse and rapidly changing regulatory environment, emphasizing the need for adaptability in business strategies.
Mr. Yvo Metzelaar, Managing Director, Press2 Pvt Ltd.
A representative from Presto, a prominent laundry and dry-cleaning service, shared his experience of returning to India and establishing the business. He highlighted the market’s welcoming environment and the shift in consumer behavior towards valuing quality over convenience. The representative emphasized Presto’s commitment to sustainability, including the elimination of plastic in packaging and the use of biodegradable materials. He discussed the importance of transparency in operations, which has resonated well with consumers and established Presto’s reputation in the market.
Round Table Discussion
The moderator invited panelists to share their top suggestions for enhancing EU-India business relations, focusing on several key themes:
Clean Energy Trade: Participants emphasized the need for collaboration in clean energy technology and sharing best practices.
Barriers Removal: Addressing barriers in Foreign Direct Investment (FDI) rules and sanitary regulations was identified as essential for smoother trade.
R&D and Innovation: The importance of investing in research and innovation to foster collaboration was highlighted, alongside the necessity of skilling and developing competencies within the workforce.
Import Duties and Legal System Improvements: A robust legal framework and improved enforcement of standards in the import sector were deemed critical. Panelists emphasized the necessity of a level playing field, particularly in the informal sector.
Market Dynamics and Optimism: The discussion transitioned to the immense opportunities within India, especially given its demographic dividend. By 2030, a significant portion of the global workforce will be based in India, presenting immense growth potential for exports and service industries. Panelists expressed optimism and suggested fostering more robust exchanges between the EU and India.
Sustainability and Climate Partnership: The urgent need for collaboration on sustainability and renewable energy was underscored, with both regions benefiting from partnerships focused on sustainable practices.
Final Thoughts and Member Engagement: Panelists expressed hopes for increased engagement through specialized working groups and enhanced market access for SMEs. They called for structured programs to provide European entrepreneurs with insights into doing business in India.
During the discussion, a question from the audience addressed challenges related to cleanliness and orderliness in India, emphasizing how these factors affect the perception of doing business in the country. Panelists acknowledged the progress made in infrastructure development and ongoing efforts to improve urban environments
Conclusion: The discussion underscored the potential for local development inspired by successful models, the need for collaborative efforts across sectors, and a recognition of the rich diversity of perspectives in India. The event fostered an optimistic outlook for future EU-India engagements.
The session ended with interesting raffle draw with many Winners followed by cocktail party networking and dinner.
During business session of the AGM, Mr. Rajeev Sharma, Country Managing Director, G4S India was elected as the President and Mr. Robin Banerjee, Chairman Nucleon Managing Director, was elected as Senior‐Vice‐President and Mr. Siladitya Sarangi, Country Manager, Deoleo India Pvt Ltd was elected as Vice‐President of The Council of EU Chambers of Commerce in India for the year 2023‐24.
