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Centre’s new initiative to connect MSMEs with global market

Mumbai: India is looking to replicate the pro-MSME provisions seen in its recent trade agreement with the United Kingdom across upcoming deals with countries including the United States and the European Union. The aim is to create more favourable terms for Indian micro, small, and medium enterprises (MSMEs) and ensure these businesses are better positioned to compete globally.

The recent India-UK Comprehensive Economic and Trade Agreement marked a significant milestone with its dedicated chapter for MSMEs, featuring several support mechanisms. Among these are mutual contact points for MSME-related queries, simplified sharing of regulatory and certification information, and coordinated efforts to promote trade activities such as exhibitions and business networking events.

Under public procurement terms, UK suppliers bidding for Indian contracts will be classified as ‘Class-II local suppliers’ above set thresholds, whereas Indian firms, including MSMEs, retain ‘Class-I’ status, preserving their competitive edge in domestic tenders. Additionally, a technical framework has been established to help MSMEs overcome non-tariff barriers that often hinder access to international markets.

This structured support is viewed as critical for labour-intensive sectors such as textiles, footwear, leather, marine products, toys, sports goods, and jewellery – all of which depend heavily on MSME contribution. These industries have experienced a decline in export share in recent years, reinforcing the need for enhanced access to global markets. Efforts to boost these sectors are also expected to generate positive spillover effects in terms of employment and rural development.

Looking ahead, India is actively trying to incorporate similar MSME carve-outs in ongoing trade negotiations. This approach reflects a broader policy goal of ensuring trade agreements do not disproportionately benefit large firms at the expense of smaller businesses. With talks underway with key partners, there is a concerted push to include practical tools such as training modules, export readiness workshops, and joint promotion of women-led and rural MSMEs.

The Indian government is also pursuing greater collaboration in areas such as sustainability standards and technical skills development, hoping to improve the international competitiveness of domestic MSMEs. By standardising such provisions across multiple trade deals, India is attempting to build a consistent and supportive global framework for its small business sector.

As global trade dynamics evolve, India’s strategic emphasis on MSMEs signals an intent to shape agreements that not only expand market access but also strengthen the foundations of its manufacturing and export ecosystems. While challenges remain, especially with ongoing negotiations, the recent UK agreement is seen as a blueprint for future deals.

(Write to us at editorial@bombaychamber.com)

Agriculture & Processed Food Products Export Development Authority (APEDA)  refutes unfounded allegations in Organic Cotton Certification

The National Programme for Organic Production (NPOP) was launched in 2001 by the Department of Commerce, Ministry of Commerce & Industry, Govt of India for exports of Organic products and APEDA acts as the Secretariat for the implementation of the NPOP. The system of grower group certification was launched in 2005, as it was felt necessary to cater to small and marginal farmers.

Third party certification is a mandatory requirement for export of organic products. The NPOP standards for crop production have been recognized by the European Commission and Switzerland as equivalent to their country’s standards and are also accepted by Great Britain. There is an MRA for organic products with Taiwan.

The system for Organic Certification under NPOP involves a third-party certification system of organic processes and organic produce, which is certified across the supply chain by a certification body (Govt. or private). The accredited Certification Bodies certify organic operators as per their scope of accreditation. At present, there are 37 active Certification Bodies operating in India, which include 14 State Certification Bodies.

Herein, it is clarified that APEDA or the Department of Commerce does not extend any subsidy to farmers taking up Organic cultivation under the NPOP. The figure of Rs. 50,000 per hectare and the further wrongly imputed calculations have no basis.

Organic certification under NPOP is not limited only to Madhya Pradesh but is spread across 31 States/UTs. As per latest records (as on 19.07.2025), there are 4712 active Organic grower groups covering around 19,29,243 farmers certified by the accredited certification bodies under NPOP. These grower groups are involved in production of a wide range of crops including cereals, pulses, oilseeds, tea, coffee, spices and not only cotton.

Thus, the number of Organic grower groups as mentioned in the briefing is incorrect along with the number of farmers, it is also misleading to infer that all the Organic grower groups of India are based in Madhya Pradesh and are producing only Cotton.

It is pertinent to mention that cotton is covered under NPOP only till production level. Thereafter, the post production including ginning, processing etc is done under private certification.

Under NPOP, ICS can be self-managed or managed through a service provider/mandator. As per the NPOP standards, it is mandatory for ICS to carry out internal inspections of all farmers twice annually. Apart from that, the Certification Body (CB) conducts annual audit of each ICS which includes Office audit and farm audits based on a sampling plan. The sampling plan is primarily based on the size of the holdings, number of farmers in the ICS and risk assessment. Certification bodies can carry additional inspections wherever deemed necessary.

In addition to the above, there is a third level of check on the CB by the NAB through APEDA, by undertaking unannounced audits of operators including grower groups (ICS) based on risk assessment/ complaints received, which is conducted by an evaluation committee constituted by the NAB and coordinated by APEDA.

Despite the above stated checks and balances established in the system, there have been reported incidences of malpractices and misuse of Grower Group Certification. These kinds of non-compliances are not unique to India or NPOP but apply to any regulatory system. In this regard the following actions have been taken by the authorities:

1. Stringent action has been taken against the cases of willful violation and severe non-conformities of Certification Bodies with the NPOP Standards.
2. The NPOP regulations have been revised bringing in more stricter norms in terms of legal entity of grower groups, close monitoring through ICS office in the vicinity of the grower group, and inspection of grower groups through mobile app is going to be started shortly.
3. New procedures have been formulated for additional checks for certification of organic cotton production. The procedure also limits the zone of the certification bodies certifying cotton to have a closer monitoring and oversight.
4. The process of unannounced inspections has increased many folds. Stringent action has been  taken against the grower groups and the defaulting certification bodies.

APEDA is committed to ensure that the Organic certification system under the NPOP is credible, transparent and clear. Wherever credible evidence of non compliances/ wilful violation of organic standards have been brought to light, APEDA had undertaken extensive investigation and taken concrete measures. All such matters are subjected to structured investigation following principles of natural justice. Any Certification Body or operator found violating norms is penalized as per NPOP regulation.

It may be mentioned that in a press briefing by an opposition leader yesterday, unfounded, unsubstantiated and misleading aspersions are being cast against the Organic Certification programme, the National Programme of Organic Production(NPOP).

Generalised allegations against a robust regulatory system of the Country for a particular crop/ region/ group of operators only serve to undermine the credibility of legitimate regulatory institutions and the broader organic movement in India.

Centre’s New Initiative to Connect MSMEs with Global Market

The Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry Initiative “One District, One Product” (ODOP) aims at fostering balanced regional development across all districts of the country by selection, branding, and promoting one product from each district of the country.  The ODOP Initiative aims at attracting investment in the district and boosting manufacturing and exports, thereby generating employment in the district. ODOP is operationally merged with the “Districts as Export Hubs” initiative.

The Developing Districts as Export Hubs (DEH) initiative is a flagship export promotion initiative of Director General of Foreign Trade (DGFT), with the vision to transform every district into a vibrant contributor to national exports. It builds upon and now incorporates the One District One Product (ODOP) initiative to streamline export potential at the grassroots level. Each district identifies one or more products or services with export potential and creates a District Export Action Plan (DEAP) to support quality, capacity, market access, and infrastructure. A District Export Promotion Committee (DEPC), led by local administration in partnership with DGFT regional authorities, oversees execution. State-level Export Promotion Committees support coordination across districts and the DGFT implements and monitors via a national portal. ODOP products are promoted at international events through engagement with Indian Missions abroad.

The Government facilitates participation of Micro, Small and Medium Enterprises (MSMEs) in International Trade Fairs through the International Co-operation Scheme of the Ministry.  The scheme aims to build Capacity of MSMEs for entering export market by facilitating their participation in international exhibitions/ fairs/conferences/ seminar/buyer-seller meets abroad as well as providing them with actionable market-intelligence and reimbursement of various costs involved in export of goods and services. The Scheme provides opportunities to MSMEs to continuously update themselves to meet the challenges emerging out of changes in technology, changes in demand, and emergence of new markets.

The components of training in digital marketing and e-commerce are embedded in schemes like Procurement and Marketing Support and MSME Trade Enablement and Marketing (MSME TEAM) schemes of the Ministry of MSME. Government provides financial incentives/concessions through schemes like Prime Ministers Employment Generation Programme, PM Vishwakarma, Procurement and Marketing Support, International Cooperation, Khadi Gramodyog Vikas Yojana, Coir Vikas Yojana etc, for enterprise creation, capacity building, tool kits, etc.  Through the Credit Gaurantee Fund Trust (CGTMSE), Government provides guarantee cover for Micro and Small Enterprises (MSEs), with increased cover for women owned enterprises.

This information was given by the Minister of State for Micro, Small and Medium Enterprises, Smt. Sushri Shobha Karandlaje, in a written reply in the Rajya Sabha today.

River Cruise Voyages on National Waterways rise by 19.4% in 2024–25; 51 new cruise circuits planned across 14 states and 3 UTs by 2027 under Cruise Bharat Mission

The river cruise tourism sector in India has witnessed notable growth, with the number of river cruise voyages on National Waterways increasing from 371 in 2023-24 to 443 in 2024-25. This 19.4% growth underscores the rising appeal and operational efficiency of river cruises in India’s inland waterways.

Adding to this momentum, Viking Cruises has announced its entry into India’s river cruise market with Viking Brahmaputra, an 80-guest vessel scheduled to begin operations in late 2027, signalling heightened interest and investment in India’s river cruise tourism sector. Viking Brahmaputra, to be indigenously developed by Hooghly Cochin Shipyard Limited in Kolkata, will operate on National Waterway-2.

In line with Prime Minister Shri Narendra Modi’s vision and guidance of Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal, the Inland Waterways Authority of India (IWAI) is making strides in promoting river cruise tourism and developing sustainable water transport system in India.

The sector has witnessed exceptional growth over the last 11 years. From just five vessels on three waterways in 2013–14, river cruise operations have expanded to 25 vessels across 13 national waterways in 2024–25. This growth is attributed to the proactive efforts of IWAI under the Ministry of Ports, Shipping and Waterways in enhancing navigational safety and infrastructure on National Waterways. IWAI has facilitated smoother and safer navigation for river cruise vessels by developing terminals, on-shore and off-shore facilities, ensuring adequate depth in waterways, and providing 24-hour navigation aids and pilotage services. These measures have collectively enhanced the passenger experience, improved operational logistics, and boosted operator confidence, contributing to the growth of the sector.

Notably, the MV Ganga Vilas, flagged off by Prime Minister Shri Narendra Modi in January 2023, undertook the world’s longest river cruise from Varanasi to Dibrugarh, covering 3,200 km through 27 river systems in five Indian states and Bangladesh. This historic voyage earned a place in the Limca Book of Records. Other popular cruise circuits like Sundarbans in West Bengal, Brahmaputra in Assam, and Alappuzha in Kerala are also gaining traction.

IWAI plans to develop 51 new river cruise circuits on 47 national waterways across 14 states and three union territories by 2027. With the launch of the Cruise Bharat Mission, the government aims to increase river cruise passengers from 0.5 million to 1.5 million. The mission focuses on upgrading cruise terminals, ports, and related infrastructure, promoting eco-friendly tourism practices using green vessels, and creating numerous employment opportunities in the cruise industry in the coming two years.

IWAI has recently signed agreements with several state governments to promote cruise tourism on National Waterways, including partnerships with the Governments of Gujarat and Madhya Pradesh for cruise tourism on River Narmada, with the Delhi Government for operating ferries and cruises on the Yamuna River, and with the Government of Jammu and Kashmir for sustainable tourism on the Jhelum, Ravi, and Chenab rivers.

Besides, IWAI is developing dedicated cruise terminals on the Ganga and Brahmaputra rivers, with three cruise terminals planned in Varanasi, Guwahati, Kolkata, and Patna. In the Northeast, four more cruise terminals at Silghat, Biswanath Ghat, Neamati, and Guijan are proposed to be developed by 2027.

The Future of Insurance in India: Insights Ahead of Insurance Summit 2025

India’s insurance sector, valued at over USD 140 billion, is undergoing significant transformation. Ranked among the top ten insurance markets in the world, the sector is witnessing momentum fueled by regulatory reforms, digital innovation, and a growing demand for customer-first solutions.

While the life insurance segment continues to experience steady growth, the non-life insurance sectors—including health, motor, property, and liability—are now poised for rapid expansion. This shift reflects India’s evolving risk landscape, changing consumer expectations, and stronger public-private policy alignment.

At the centre of this evolution lies a vital question:

Is India’s insurance industry actively preparing for this transformation, or merely hoping it will unfold on its own?

Catalysts for Sectoral Change

The government’s “Insurance for All by 2047” vision, championed by the Insurance Regulatory and Development Authority of India (IRDAI), has placed the insurance sector on an ambitious course. Several recent and upcoming developments will play a decisive role in shaping this path forward:

• The Insurance Bill Amendment 2025 is set to redefine how insurers raise capital, handle solvency requirements, and operate under a modernised regulatory structure. This could have far-reaching implications for IPO-readiness and governance transparency across the industry.
• The Ayushman Bharat Digital Mission aims to launch a national health claims exchange, designed to digitise and simplify the claims settlement process across insurers, third-party administrators, and hospitals. This move is expected to drastically reduce paperwork, speed up approvals, and improve the policyholder experience.
• Insurtech firms and legacy insurers are collaborating to co-develop products that meet the specific needs of diverse populations — from urban centres to semi-urban and rural markets. These collaborations are also enabling the expansion of microinsurance and embedded insurance services.
• Today’s insurance consumers are demanding more than just coverage. They are seeking transparency, trust, and personalised service. This behavioural shift is compelling insurers to rethink their models — from transaction-driven to relationship-based.

Introducing Insurance Summit India 2025

To address these developments, the Banking, Financial Services & Insurance (BFSI) Committee of the Bombay Chamber of Commerce & Industry will host:

Insurance Summit India 2025 – Viksit Bharat: Catalysing Insurance for a Resilient Future

Date: August 8, 2025

Time: 1:00 PM Onwards
Venue: Hotel Taj Santacruz, Mumbai
Organiser: Bombay Chamber of Commerce & Industry, BFSI Committee

This high-impact summit will convene key stakeholders from across the insurance ecosystem — including senior regulators, CEOs, actuaries, underwriters, legal experts, technology leaders, brokers, TPAs, and insurtech founders.

🤝 Supported by Industry Leaders

The Insurance Summit India 2025 is supported by some of the most respected names in the insurance and financial services industry:

• Title Sponsor: New India Assurance
• Premium Sponsors: Axis Max Life Insurance | Lockton
• Co-Sponsors: Beacon Insurance Brokers Pvt. Ltd. | Aditya Birla Capital Health Insurance
• Knowledge Partner: PwC India

Their collaboration reflects the shared commitment toward building a more resilient, inclusive, and tech-enabled insurance ecosystem. To explore the full agenda and speaker lineup, visit the official event page.

What to Expect at the Summit

The Summit will open with a high-impact plenary session featuring a keynote address by Mr. Deepak Sood, Member (Non-Life), IRDAI, who will share the regulator’s vision and roadmap for driving innovation while upholding consumer protection and financial stability. The session will also include special addresses by Mr. Nilesh Sathe, Former Whole-time Member, IRDAI, and Ms. Girija Subramanian, CMD, New India Assurance.

Participants can look forward to three high-value panel discussions:

• Panel 1: Opportunities and Impact of the Proposed Insurance Bill Amendment 2025 — featuring leaders from Zuno Insurance, Universal Sompo, and Future Generali.
• Panel 2: Enhancing Customer-Centricity — featuring experts from Lockton and Beacon Insurance Brokers, among others.
• Panel 3: Tech-Driven Innovation, Inclusion and Trust — with insights from Aditya Birla and Axis Max Life Insurance, among others.

Each session is designed to foster actionable dialogue on how innovation, regulation, and consumer engagement can jointly enable India’s transition into a resilient insurance economy.

The Summit also offers structured networking opportunities, including a curated networking lunch and post-event dinner with cocktails — allowing professionals to connect meaningfully across domains.

Why This Summit Matters

Insurance has evolved from being a financial product to becoming a pillar of economic resilience. In today’s India, it is a critical lever for inclusive growth, social stability, and institutional trust.

The Insurance Summit India 2025 is not just another industry event — it is a strategic forum for collaborative problem-solving, innovation sharing, and long-term ecosystem building.

If you are involved in insurance, fintech, legal advisory, regulatory policy, health administration, or capital markets, this Summit offers unparalleled insights and access.

Register Now

Participation is limited and registration is filling quickly.

To confirm your seat and gain access to this flagship event,
Click here to register for Insurance Summit India 2025

For queries or institutional participation, contact:
Utkarsha Joshi:

+91 22 6120 0271

utkarsha.joshi@bombaychamber.com

Priya Singh:

+91 22 6120 0238

priya.singh@bombaychamber.com

GST invoice management system evolves for smarter tax compliance

Mumbai: When the Goods and Services Tax (GST) Invoice Management System (IMS) went live on October 1, 2024, it arrived as a quiet revolution in the nation’s GST architecture. Introduced with the promise of real time visibility into business-to-business (B2B) transactions, the system is currently optional – a testing ground rather than a mandate. Yet within months, it became obvious to tax professionals and corporate leaders alike that IMS would reshape not only compliance routines but the very dynamics of trust and transparency across the supply chain.

As Komal Sampath, Director – Indian Tax Practice at Deloitte Touche Tohmatsu India LLP, explained at a recent webinar organised by the Bombay Chamber of Commerce & Industry, the true turning point comes with the decision to freeze outward liability in the GSTR 3B return from the July 2025 tax period onwards. At that juncture, any rejection of credit notes by the customers under their IMS may no longer directly be corrected under summary returns of GSTR 3B – a deadline that demands urgent attention from every taxpayer.

On the surface, the GSTN Portal itself presents a deceptively simple layout. Vendors upload their B2B transactions as soon as they are issued, and these records appear in the recipient’s dashboard that allows them to cross-verify entries against their own available records. Yet behind this simplicity lies an intricate choreography of data feeds and validation checkpoints. As transactions initially populate in the ‘No action’ section, recipient may take appropriate action and digital cut-throughs ensure near-instantaneous updates of both the supplier’s and the recipient’s IMS dashboards.

Filters by GSTIN, invoice number, and month enable finance teams to monitor high-value transactions and identify potential discrepancies. Furthermore, for quarterly filers, GSTR-2B is not generated during the first two months of the quarter, permitting them to undertake necessary actions on a quarterly basis.

It is in the dance between acceptance and rejection that the system’s power becomes evident. Should a recipient recognise a transaction as legitimate, a click of the accept button seamlessly authorises the corresponding input tax credit. If the transaction appears spurious or mis-addressed, rejection becomes an immediate deterrent against fraud – alerting both vendor and tax authority to the anomaly.

And where doubts persist, the pending status allows additional scrutiny, perhaps triggering an internal audit or a supplier follow-up. This triage of invoices not only curtails credit claims on counterfeit documents but also strengthens the integrity of each firm’s self-assessment.

Yet practical experience has also revealed obstacles, Karthik Gandhi, Head – Indirect Tax at Siemens India, shared at the same webinar that integration between IMS and legacy ERP systems remains a thorny issue for multinational groups. “We are dealing with multiple entities, each on a different digital platform,” he noted. “Ensuring that transactions captured in one system synchronise accurately with IMS, without duplications or time lags and requires intensive coordination between finance and vendor support teams,” said Gandhi.

Additionally, many practitioners believe further refinements are still required, particularly for taxpayer registered PAN India where tax documents are received at multiple offices and it may delay verification of tax documents by weeks. Calls for extended timelines for taking action on credit notes are already being tabled by industry associations, though any reprieve will need to balance ease-of-use with the government’s broader objectives of plugging revenue leakages.

For businesses large and small, the strategic implications of IMS extend far beyond compliance. Real time invoice matching can accelerate working capital cycles by giving suppliers confidence that credits will be honoured without delay subject to fulfilment of provision of GST law.

Conversely, any backlog in reconciliation can put pressure on cash flows, as the freeze on outward liability could leave invoices in limbo and credits unclaimed. Financial controllers thus find themselves at the nexus of legal compliance, treasury management and supplier relations – a role that demands both technical acumen and diplomatic finesse.

At its heart, the IMS represents a step towards a more transparent, accountable commercial ecosystem. No longer can shell companies hide behind fabricated invoices or delay reporting without immediate consequence. Simultaneously, genuine traders gain the reassurance of on-demand verification, reducing the friction of inter-company settlements. The transformation may be gradual – after all, the initial phase remains optional – but with each month of voluntary participation, taxpayers refine their processes in anticipation of the mandatory horizon.

As the IMS evolves, so too will the skills demanded of India’s tax professionals. Tomorrow’s finance teams/tax professionals will need data analytics expertise to monitor dashboard metrics, legal insight to interpret emerging advisories and change-management know-how to embed new procedures across dispersed operations.

The freeze effective July 2025 is not merely a technical adjustment; it is a signal that digital compliance has arrived irreversibly. Firms that adapt swiftly will not only avoid penalties but stand to gain a competitive edge in the increasingly data-driven marketplace.

In the end, India’s journey towards real time invoice reporting is a microcosm of its aspirations for a fully digitised economy. By merging technology with regulatory intent, the government seeks to construct a fiscal architecture that is both resilient against fraud and conducive to growth. The road ahead will doubtless present further challenges, from system enhancements to policy fine-tuning, but the direction of travel is clear.

For those who embrace the change, the IMS offers a pathway to greater efficiency, stronger compliance and deeper collaboration across the supply chain. And when the next chapter of India’s tax story is written, it will surely be defined by the lessons learned from the first months of IMS in action.

(Write to us at editorial@bombaychamber.com)

When commercial dispute resolution matters choose your fight wisely

Mumbai: In today’s increasingly complex commercial landscape, disputes are inevitable. But the method you choose to resolve them can shape not just the outcome, but the time, cost, and relationships along the way. Arbitration and mediation, often bundled under the banner of alternative dispute resolution, differ as much in strategy as they do in spirit.

Arbitration is inherently adversarial. It imposes a formal structure reminiscent of courtroom litigation. The process is governed by procedure and results in a binding decision – an award – that can be executed like a court decree.

This makes it particularly useful where parties need finality, enforcement, and a framework capable of absorbing complex evidence and legal argumentation. But it also comes at a price. Arbitrator fees, lengthy timelines, and procedural layers can make it a costly affair, with durations often stretching beyond two years and expenses creeping into seven to ten per cent of the dispute value. As many professionals have observed, arbitration serves best when the stakes are high – often above ₹1 crore – and the issues require detailed adjudication.

Mediation, however, takes a different path. It is fluid, collaborative, and anchored in consent. Rather than imposing a judgment, it offers a facilitated space for parties to communicate, find common ground, and reach a solution of their own making.

A well-handled institutional mediation can resolve matters within three months, at a fraction of the cost of arbitration. In practice, a typical mediation may cost under ₹76,000 and produce outcomes that cannot be challenged under Section 34, provided the terms are formalised as part of an arbitration award or under Section 30(4) of the Arbitration Act.

What makes mediation particularly powerful is its emphasis on preserving relationships. In business disputes, where future collaboration might still be on the table, this becomes a strategic edge. And while the Mediation Act is still in the process of full notification, professionals are already making adjustments – treating direct resolutions as ‘conciliation’ where required by law, but maintaining the spirit and structure of mediation.

Interestingly, the future may not belong exclusively to one approach. Institutions and arbitrators are already embedding mediation within arbitration proceedings. When the arbitrator also holds mediation training, the shift between forums is seamless.

Parties may pause arbitration, engage in structured mediation, and return—if successful—with a binding resolution converted into an award. It is here that the strategic blend reveals its strength, offering the enforceability of arbitration with the consensual power of mediation.

For professionals and institutions alike, the real challenge lies in knowing when to pursue which path. Arbitration is a hammer; precise, powerful, but not always appropriate. Mediation is a bridge – faster, lighter, and often more enduring. In a world where legal efficiency is currency, the best strategy may be to ask not which tool is better, but which moment calls for which instrument.

Dispute Resolution @ Bombay Chamber (DR@BC) is an initiative of the Bombay Chamber of Commerce and Industry, India’s oldest operating chamber of commerce. Established in response to the growing need for efficient, business-friendly alternatives to litigation, DR@BC provides a structured platform for Mediation, Arbitration, Conciliation, and Neutral Evaluation. Contact us for a free initial consultation: https://adr.bombaychamber.com/contact-us/

₹1000 crore ADEETIE scheme to empower MSMEs with clean energy investment

Union Cabinet approves transformative scheme for farming districts

Mumbai: In a major push to revitalise agriculture and allied sectors, the Union Cabinet has approved the Prime Minister Dhan-Dhaanya Krishi Yojana, a first-of-its-kind initiative aimed exclusively at accelerating development across 100 districts. The scheme has an outlay of Rs 24,000 crore per year and will be implemented over the next six years.

Drawing inspiration from NITI Aayog’s Aspirational District Programme, the scheme promises a data-driven, outcome-focused approach to raise agricultural productivity, promote sustainable practices and improve rural livelihoods.

Target districts will be selected using key indicators such as low crop yield, minimal cropping intensity and limited access to agricultural credit. Each state will see at least one district included, with final selections reflecting the distribution of India’s net cropped area and operational holdings.

The plan’s implementation will rely on the convergence of 36 existing central schemes across 11 departments, alongside complementary state initiatives and private sector participation. A three-tier governance structure – national, state and district – will oversee planning and execution, with each district guided by its own Dhan-Dhaanya Samiti, comprising officials and progressive farmers.

District-level plans will align with national goals, emphasising crop diversification, conservation of natural resources and the promotion of organic farming. Progress will be tracked monthly via a digital dashboard against 117 key performance indicators, with NITI Aayog offering guidance and monitoring support.

As outcomes in the chosen districts improve, officials expect national agricultural metrics to rise correspondingly. By enhancing productivity, storage, irrigation and financial access, the scheme aspires to foster greater self-reliance and value addition within India’s agricultural ecosystem, anchoring the broader vision of Atmanirbhar Bharat.

(Write to us at editorial@bombaychamber.com)

GST webinar highlights practical insights for tax and finance professionals

Mumbai: The Bombay Chamber of Commerce and Industry, under the aegis of its Indirect Tax Committee, hosted an informative webinar on the Goods and Services Tax (GST) Invoice Management System (IMS). The session provided participating tax professionals and finance teams with timely updates and practical guidance on the evolving invoice reconciliation framework.

The session centred on operational and strategic implications of the IMS, introduced by the GSTN and also discussed updates effective July 2025. The system is designed to enable recipient taxpayers to reconcile purchase invoices in real time, with functionality to accept, reject, or defer invoices – ultimately streamlining the Input Tax Credit (ITC) claim process.

The webinar was led by two eminent speakers viz. Kartik Gandhi, Head of Indirect Tax at Siemens Ltd., and Komal Sampat, Director in the Indirect Tax practice at Deloitte Tohmatsu India LLP. Drawing from more than 15 years in the domain, Gandhi elaborated on technological integrations and practical workflows in managing indirect taxes. Sharing nuanced insights from over a decade of experience in indirect tax advisory and compliance, Sampat highlighted real-world applications and sectoral impact across industries such as energy, TMT, pharmaceuticals, consumer goods, and small and medium enterprises (SMEs).

Participants gained a clear understanding of the IMS structure, from invoice submission by suppliers to the recipient’s actions and the cascading effects on GSTR-2B and GSTR-3B filings. The session offered a comprehensive walkthrough of the IMS dashboard, invoice tracking capabilities, and the communication loop between supplier and recipient. The presenters also navigated scenarios involving invoice exceptions and discussed best practices for streamlining compliance efforts in light of recent regulatory amendments. Legal updates and their implications for IMS usage were thoroughly reviewed, ensuring participants left with actionable clarity.

The webinar concluded with an interactive Q&A session, where participants sought clarification on individual queries. Attendees were encouraged to share additional practical challenges related to GST IMS directly with the Bombay Chamber and were assured of timely support and guidance from GST experts.

(Write to us at editorial@bombaychamber.com)