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Quality Council of India introduces QCI Surajya recognition & ranking framework to drive excellence in key sectors

The Quality Council of India (QCI) is introducing the QCI Surajya Recognition & Ranking Framework, an empowering initiative designed to drive excellence among states to improve quality of life of citizens for a Viksit Bharat. This framework is categorized under four pillars: Shiksha (Education), Swasthya (Health), Samriddhi (Prosperity), and Sushasan (Governance). The Surajya Recognition acknowledges the outstanding performance and commitment to quality by states and organisations in these vital areas.

Enhancing the quality of education (Shiksha) through robust accreditation and certification processes. Guaranteeing superior healthcare (Swasthya) services throughout the nation and upholding the highest standards of medical care in every region. Driving economic prosperity (Samriddhi) through quality assurance in manufacturing and industrial practices. Ensuring transparent, accountable, and responsive governance (Sushasan) that upholds the highest standards of quality.

The August rankings focus on Shiksha, Swasthya, and Samriddhi, with Sushasan to feature in future editions.

In the Shiksha Rankings, Uttar Pradesh leads with the highest number of accreditations, assessments, and ratings. Delhi, as a union territory, also ranks prominently.

In the Swasthya category, Chhattisgarh, Karnataka, Kerala, Rajasthan, Mizoram and Manipur stand out with complete certification in the Ayushman Arogya Yojana (NABH), while Tamil Nadu and Maharashtra lead in the Medical Entry Level Testing Labs (MELT) rankings (NABL). Among the union territories, Chandigarh excels with 100% certification in Ayushman Arogya Yojana, and Jammu & Kashmir shows commendable performance with a 71.43% certification rate. Delhi, followed by Jammu & Kashmir, excels in MELT.

In the Samriddhi category, Gujarat, Karnataka, and Rajasthan lead with the highest number of ZED certifications, particularly in the Micro category. Jammu & Kashmir and Delhi also achieved significant certifications in ZED. For the MSME Competitive LEAN Scheme, Maharashtra and Bihar are the top performers.

Introducing the Surajya Recognition and Ranking Framework, Shri Jaxay Shah, Chairperson, QCI, stated, “Our states are our strengths, and their collective synergy is the driving force behind creating a Viksit Bharat. Through Surajya, we aim to promote high standards and best practices in key sectors of India, paving the way for states to achieve and maintain the highest standards of excellence. This initiative celebrates their commitment to quality and continuous improvement.”

The QCI Surajya Recognition & Ranking Framework, beginning with the August 2024 rankings, sets a new benchmark for excellence across the nation. The rankings have been compiled, incorporating both monthly and cumulative figures across various initiatives to ensure a comprehensive and balanced evaluation. It aims to create a developed India by recognizing and rewarding states and organizations that excel in quality and innovation. With a strong emphasis on enhancing collaborative governance and fostering sustainable development, this framework is a significant step towards building a prosperous and quality-driven Viksit Bharat.

Government policies have potential to boost Rupee: Piyush Goyal

Union Minister of Commerce & Industry, Shri Piyush Goyal during an interaction here expressed hope that government efforts to boost semiconductor manufacturing, domestic shipping and a reduction in imports of oilseeds, rubber and pulses will help the rupee appreciate against the dollar.

The Union Minister was speaking at the ASSOCHAM’s launch event of the book titled “Bharat@100: Envisioning Tomorrow’s Economic Powerhouse” written by former Chief Economic Advisor Shri KV Subramanian. Shri Subramanian in the book predicts India can achieve a $55 trillion economy by 2047 if the nation sustains an 8% annual growth rate.

Speaking on the occasion, Shri Goyal said that a stable economy will push India to be among the top 3 world economies. The Centre will ensure a better quality of life to the last man at the bottom of the pyramid in the next five years, he said, adding that the government is also focussed on efforts to replace the oil economy with electric mobility and making quality the fulcrum in manufacturing. He noted that steps undertaken by the Government such as self- sufficiency in defence, transparency and technology, stronger currency and macroeconomic fundamentals will spur India to become a developed nation.

Speaking about the rapid growth of China, Shri Goyal said that India is at the same sweet spot today as China was between 2000-2020 when they grew at 8% based on a stable economy and low inflation. “Our political and social problems will eventually reduce, our economy will grow faster and we can replicate China’s growth story”, said the Union Minister.

Speaking on ethical wealth creation and the need for private investment, Shri Goyal lauded Prime Minister Narendra Modi’s commitment to recognise the contribution of wealth creators in the private sector and businesses.

“PM Modi values wealth creators for their role in job creation and for providing goods and services for the citizens”, he said. He further added that the PM’s speech at CII Post-Budget Conference has brought to the fore the importance of manufacturing to India’s growth story and the need for stable policies to make India a developed nation by 2047.

Commerce Secretary participates in the 14th BRICS Trade Ministers’ Meeting

Commerce Secretary Shri Sunil Barthwal attended the 14th BRICS Trade Ministers’ Meeting held on 26 July 2024 under the BRICS Presidency of Russian Federation. The theme of BRICS this year is “Strengthening Multilateralism for Just Global Development”. While congratulating the Russian Presidency for the bringing in proposal on contemporary issues, Shri Sunil Barthwal, welcomed the new members of BRICS (Iran, Egypt, Ethiopia and UAE) and congratulated them on their fruitful participation in discussions, this year.

The Commerce Secretary expressed the need for strengthening multilateral trading system with WTO at its core, effective functioning of Joint Value Chains, expanding interaction among MSMEs, India’s successful story on Digitalisation and E-Commerce and the relevance of cooperation among Special Economic Zones.

On the strengthening Multilateralism, he reiterated on the collective efforts to find a solution for long pending mandated issues of WTO, in particular, the development aspect and the Special and Differential treatment. He stressed on the urgent need for resolving the issues including the permanent solution to Public Stock Holding, constitution of two-tier Dispute Settlement system, WTO Reform to be based on the principles & objectives of WTO, leading to more responsive to development requirements of emerging economies, invigorating the WTO through “30 for 30” bringing in alt least 30 operational improvements to the WTO before the organization completes 30 years in 2025. He stressed upon strengthening the resiliency of supply chain through decentralisation and diversification, furthering co-operation in value chains through G20 generic Mapping framework for GVCs and by enunciating guiding principles for collaboration. In this context, as an initial step towards digitalisation, he stressed on paperless trade including digitalisation of documents like Bill of lading.

He laid emphasis on collaboration for making access to affordable emerging technologies critical for green transition and climate resilience. On the climate related unilateral measures impacting trade, Commerce Secretary expressed concern as such measures nullify rights and obligations under specialised Multilateral Environmental Agreements and violative NDC Principles, and ignores the CBDR principles.

The Commerce Secretary also mentioned the importance on MSME related developments and their integration with the Global Value Chains. While re-iterating the Jaipur call for action for enhancing access to information for MSMEs issued during India’s Presidency in 2023, he lauded the Russian Presidency for carrying forward the initiative by making efforts to compile certain basic information pertaining to MSMEs among the BRICS members. As MSME’s are an integral part of the BRICS Members, Commerce Secretary stressed on the importance of cooperation and collective efforts for outcome oriented support for MSMEs. He expressed the need to focus on key areas like, exploring cooperation in the form of Research and Development, Technology transfers and joint Ventures as well as the Business development opportunities.

Commerce Secretary underscored the urgency of accelerating inclusive digital transformation. While referring to India’s success story of building up an open source India Stack of Critical Digital Public infrastructure as part of its digital industrialisation following the core principles of open access, transparency, trust and respect for data protection and privacy, expressed India’s willingness to share its experience with the BRICS countries on the e-revolution in the domains of payments, e-commerce, national identity, banking, education etc,

On the Russian presidency’s initiative on cooperation in Special Economic Zones (SEZs), Commerce Secretary acknowledged the transformative impact of SEZs in providing employment, state of art technologies, boosting exports. He underscored the importance of exchanging information and best practices regarding the same.

In conclusion, Commerce Secretary laid stress upon the importance of collaborative efforts and commitment along with resilience, unity and transparency to face challenges under the principles of compassion, empathy and understanding, for a common brighter future of BRICS countries.

The Trade Minister’s meeting endorsed the Joint Communique and 6 outcome documents pertaining to various issues mentioned earlier.

Further on the sidelines of BRICS TMM, Commerce secretary had bilateral meetings with the Minister for Economic development Maxim Reshetnikov, Member of the Board (Minister) of Trade, Eurasian Economic Commission Andrey Slepnev, Deputy Minister of Industry and Trade Alexey Gruzdev, and Head of FSVPS, Sergei Dankvert of the Russian Federation as well as with the Deputy Minister for the Department of Trade, Industry & Competition, South Africa, Zuko Godlimpi and the Minister of State for foreign Trade, UAE, Thani Bin Ahmed Al Zeyoudi, wherein bilateral trade issues were discussed in brief for their early resolution.

Budget FY 24-25: FM Sitharaman announces schemes for women, youth & farmers

Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25, outlining nine priority areas for the Government, including agriculture, employment, social justice and infrastructure. This budget marks the first presented by the Government after its re-election in June 2024, and the seventh consecutive one presented by Sitharaman.

The budget announced a special focus on women and youth, with the allocation of Rs 3 trillion for schemes benefiting women and girls. Sitaraman also made major announcements for Bihar and Andhra Pradesh, including a boost in infrastructure and special financial support. Additionally, she announced the abolition of angel tax for all classes of investors in startups.

In her budget, the FM also announced a scheme to provide internship opportunities to 1 crore youth in 500 top companies over 5 years.

The Centre’s FY25 capex spend is seen at Rs 11.1 lakh crore, unchanged from the Interim Budget, with infrastructure spend at 3.4% of GDP. The budget also increased standard deduction from Rs 50,000 to Rs 75,000 and family pension deduction from Rs 15,000 to Rs 25,000.

Commenting on the budget, Nilesh Shah, Past President, Bombay Chamber & Group President & MD, Kotak Mahindra AMC, said, “Fiscal Prudence of 4.9% for FY 24 will pave the way for Rating upgrade. Support for employment generation will boost growth. Infrastructure investment at 3.4 % of GDP is elevated yet not crowding out others.”

Pinky Mehta, President, Bombay Chamber and Director, Aditya Birla Sun Life Insurance Co, said “The Union Budget 2024-25, with an allocation of Rs 1.48 lakh crore, prioritises education, employment, and skilling, demonstrating a strong commitment to empowering India’s youth. The Government’s nine focus areas outline a clear roadmap for a Viksit Bharat. Additionally, the removal of angel tax and increase in standard deduction limit are notable reforms, fostering a supportive environment for growth and innovation.”

Rajiv Anand, Sr. Vice President, Bombay Chamber & Deputy Managing Director, Axis Bank, added, “Fiscal prudence will bring down cost of capital for industry and will also help in a sovereign rating upgrade. The budget has focused on most of the key issues; agricultural productivity, growth in MSME, employment and energy transition. Resources have been allocated from capital gains to fund removal of angel tax and reduction of income tax, a welcome relief for the middle class.”

The budget aims to support employment generation, infrastructure development, and innovation, while maintaining fiscal prudence.

Key Highlights:

• Angel Tax abolished for all categories of investors
• STT on F&O increased to 0.2%
• FM keeps capex at Rs 11.11 lakh crore or 3.4% of GDP
• Rs 11.11 lakh crore allocated towards capital expenditure. This would account for 3.4% of the GDP.
• Fiscal deficit lowered to 4.9% of GDP, market borrowing unchanged at Rs 14.13 lakh crore.
• Fiscal deficit for FY25 further scaled down to 4.9 from 5.1% in interim Budget.
• Aim to reach a fiscal deficit of below 4.5% by FY26.
• BCD on mobile phones, chargers reduced to 15%.
• Highest Capex Spending proposed to support the economy and job creation.
• Govt allocates over Rs 3 lakh crore for schemes benefiting women, girls.
• Short-term gains tax on specified financial assets increased from 15% to 20%.
• Long-term gains tax on all assets raised to 12.5% from earlier 10%.
• Social and infrastructure funds announced for Andhra Pradesh, with a backward region grant for three districts.
• Package for Vizag-Chennai industrial corridor.
• Rs 15,000 crore financial assistance for Amaravati’s development with promises for future funding.
• Rs 26,000 crore for roads and expressways in Bihar.
• Funds allocated for temple development in Bihar and Odisha.
• Rs 8,000 crore allocated for Atal Mission for Rejuvenation and Urban Transformation.

Indian economy in a strong wicket: Economic Survey of India 2023-24

Union Finance Minister Nirmala Sitharaman presented the Economic Survey of India 2023-24, accompanied by a statistical appendix, in both Houses of Parliament. The survey indicates a bright outlook for India’s financial sector but highlights the need to prepare for potential vulnerabilities. The Indian financial sector is at a “turnpike moment,” with a decreasing reliance on banking for credit and an increasing role of capital markets. The Union Budget for 2024-25 will be presented by Sitharaman in the Lok Sabha on July 23, marking the first budget of the Modi Government since the NDA’s third consecutive term victory.

Highlights of the Economic Survey 2023-24:
Startup Ecosystem Flourishing:

• Over 13,000 DPIIT-recognised startups in AI, IoT, robotics, and nanotech.
• The number of patents filed per year has increased 17-fold between FY15 and FY24.

Agriculture’s Potential:

• Significant potential for growth if incentives and allied services in agriculture are aligned.
• Land consolidation is necessary for the efficiency of mechanisation and technology adoption, as more than 85% of landholdings are two hectares or less.

Extreme Weather and Crop Damage:

• Extreme weather and crop damage have led to a hike in food prices over the past two years.
• Lower reservoir levels have also contributed to higher food prices.

Female Labour Participation:

• Female labour participation has surged by 13.7% over the past six years, reaching 37% in 2022-23.
• Unemployment rate has dropped to 3.2%, with rural India leading this positive trend.

Economic Resilience Amid Global Challenges:

• The Indian economy grew over 7% for the third consecutive year, driven by stable consumption and improving investment demand.
• Gross Value Added (GVA) at 2011-12 prices grew by 7.2% in FY24.
• Net taxes at constant (2011-12) prices grew by 19.1% in FY24.

Banking and Financial Sector Performance:

• Double-digit growth in bank credit.
• Gross and net non-performing assets at multi-year lows.
• Improvement in bank asset quality underscores government’s commitment to a stable banking sector.

Food Inflation:

• Global concern over the past two years due to extreme weather events and crop damage.
• Inflationary pressures have been managed through administrative and monetary policy responses.
• Retail inflation declined to 5.4% in FY24 from 6.7% in FY23.

Capital Formation Growth:

• Government’s focus on capital expenditure and private investment has boosted growth.
• Gross Fixed Capital Formation increased by 9% in real terms in 2023-24.
• Healthier corporate and bank balance sheets are expected to further strengthen private investment.

India aims to become leading aviation hub with $4 Billion MRO Industry by 2030

Union Civil Aviation Minister, Shri Kinjrapu Rammohan Naidu has announced the implementation of a uniform IGST rate of 5% on all aircraft and aircraft engine parts, effective from 15th July 2024. This decision marks a significant milestone for the domestic Maintenance, Repair, and Overhaul (MRO) industry, aimed at making India a global aviation hub.

Commenting on this development,Shri Naidu, said, “The introduction of a uniform 5% IGST rate on MRO items is a major boost for the aviation sector. Previously, the varying GST rates of 5%,12%, 18%, and 28% on aircraft components created challenges, including an inverted duty structure and GST accumulation in MRO accounts. This new policy eliminates these disparities, simplifies the tax structure, and fosters growth in the MRO sector.”

The Union Minister further emphasized the role of Prime Minister Shri Narendra Modi’s visionary leadership in making this change possible. “Under the guidance of Prime Minister Modi, we are committed to the Atma Nirbhar Bharat initiative. His support for transforming India into a leading aviation hub has been crucial in driving this policy forward,” he added.

Union Minister applauded the efforts of the Ministry of Civil Aviation,Ministry of Finance and other stakeholders who have worked diligently to achieve this policy adjustment recommended by the GST Council in its 53rd meeting on 22nd June 2024, the uniform 5% IGST rate aims to reduce operational costs, resolve tax credit issues, and attract investment.

Highlighting the future prospects, Shri Rammohan Naidu stated, “Our vision is to transform India into a leading aviation hub. The Indian MRO industry is projected to become a $4 billion industry by 2030. This policy change is a crucial step towards building a strong ecosystem for MRO services, driving innovation, and ensuring sustainable growth.”

The Ministry is confident that this move will significantly enhance the competitiveness of the Indian MRO sector, fostering innovation and efficiency, and creating a robust and efficient aviation sector.

Union Minister of Commerce and Industry Shri Piyush Goyal holds meetings with counterparts at G7 Trade Ministers’ meet in Italy

Shri Goyal discusses deeper economic ties and FTAs with EU and UK on sidelines of G7 meeting. Shri Goyal calls for collaboration to reinforce global supply chains in critical minerals, semiconductors, pharma and green energy. Shri Goyal highlights need for robust partnerships in the face of 3 Cs – Covid, Conflicts and Climate Change

Union Minister of Commerce and Industry, Shri Piyush Goyal, attended the G7 Trade Ministers’ meeting held at Villa San Giovanni, Reggio Calabria, Italy. The meeting served as a pivotal platform for discussions on enhancing global trade relations and economic cooperation. On the sidelines of the meeting, Shri Goyal engaged in several high-level bilateral meetings with his international counterparts, reflecting India’s commitment to fostering stronger economic partnerships globally.

During discussions with Antonio Tajani, Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, both the Ministers agreed to enhance bilateral trade and investments, industrial co-production, and cooperation in clean technologies. Minister Goyal congratulated Mr. Tajani for hosting a productive G7 Trade Ministers’ meeting.

Discussions with Valdis Dombrovskis, Executive Vice President of the European Commission focused on promoting India-EU trade and economic collaborations, including ongoing FTA negotiations. Both sides explored opportunities to strengthen cooperation in various areas of mutual interest.

Shri Goyal in talks with New Zealand’s Trade Minister, Mr. Todd McClay explored opportunities to enhance bilateral trade and investment ties for mutual growth. The discussions aimed at giving further impetus to the existing strong trade relationship between India and New Zealand.

Shri Goyal congratulated Mr. Jonathan Reynolds, UK Secretary of State for Business and Trade on his appointment and discussed deepening bilateral economic relations. The conversation included plans to take forward the discussions on Free Trade Agreement (FTA) between India and the UK.

Shri Goyal in conversation with Dr. Robert Habeck, Federal Minister for Economic Affairs & Climate Action, Germany discussed opportunities to elevate the growing Indo-German trade and economic partnership. The discussions focused on the upcoming Inter-Governmental Consultations and the Asia-Pacific Conference of German Businesses in Delhi.

These bilateral engagements are expected to pave the way for significant advancements in India’s trade relations with key international partners.

Shri Goyal’s participation in the G7 Trade Ministers’ meeting underscores India’s proactive approach in engaging with global economies to foster trade and economic cooperation.

During this session, Shri Goyal thanked Mr. Antonio Tajani for the invitation and highlighted the importance of analyzing global supply chains’ robustness in times of crisis, referencing the Covid-19 pandemic, Ukraine-Russia conflict, and Red Sea crisis.

He emphasised the efforts of various countries to build resilient supply chains under platforms like the G20 Generic Framework for Mapping GVCs, the 14 Member IPEF association, Trilateral Supply Chain Resilience Initiative (SCRI), and India-EU TTC.

He discussed India’s initiatives with strategic partners such as the US, GCC countries, and the EU, including the India-Middle East-Europe Economic Corridor (IMEC) to strengthen supply chains, and highlighted India’s domestic measures to enhance multimodal connectivity for a seamless supply chain integrated with markets, distribution systems, and logistics.

The minister proposed collaboration among trusted partners to reinforce global supply chains in critical areas such as critical minerals, semiconductors, pharmaceuticals, and green energy; and advocated public-private partnerships, investments in critical infrastructure, innovation, and consistent regulatory frameworks across G7 countries and partner nations.

He addressed the impact of the 3 Cs – Covid, Conflicts, and Climate change – on global value chains, emphasizing the necessity for robust partnerships and cooperation. He also introduced the concept of the 3 Fs – fragmented, fragile, and fraught with uncertainties – characterizing the current global context and urged for greater alignment of investment, trade, environment, and energy policies to fortify global supply chains.

He emphasised the need for resilient supply chains that endure beyond the current generation.

MoPSW to host ‘State Maritime & Waterways Transport Committee’ meeting on 16th July

Committee aims to ensure comprehensive development of maritime and waterways transport across the country. Meeting will focus on preparation of a State specific Maritime and Waterways Transport Master Plan, Maritime Sector Policies, Green Initiatives, Waterways Development, Cruise Tourism, Urban Water Transportation, Development of Lighthouses

The Ministry of Ports, Shipping, and Waterways (MoPSW), Government of India, will convene the State Maritime & Waterways Transport Committees (SMWTC) meeting on 16th July 2024 at 10:00 AM via video conferencing, chaired by Shri TK Ramachandran, Secretary, MoPSW.

The committee aims to ensure comprehensive development of maritime and waterways transport across India, expanding its reach to include the remaining states. The meeting will focus on the preparation of state-specific Maritime and Waterways Transport Master Plans, formulation of Maritime Sector Policies, Green Initiatives, Waterways Development, Cruise Tourism, Urban Water Transportation, and the Development of Lighthouses.

Recognising the need for a unified approach to manage and integrate the waterways transportation sector, the Ministry has established SMWTCs to coordinate various initiatives and schemes within each state. These committees will be pivotal in consolidating efforts and providing focused leadership in the maritime and waterways sector. Each SMWTC will be headed by the Chief Secretary or Additional Chief Secretary and include representatives from major ports, maritime boards, state PWD, Inland Waterways, Department of Tourism, Department of Fisheries, Railways, NHAI, Customs, etc.

Currently, SMWTCs have been constituted in 13 states, including Andhra Pradesh, Mizoram, Himachal Pradesh, Nagaland, Puducherry, Rajasthan, Bihar, Assam, Goa, Kerala, Uttar Pradesh, Maharashtra, and Lakshadweep, with plans to establish them in all 30 coastal and waterways states and UTs of India.

The agenda for the meeting includes reviewing the progress made by already constituted SMWTCs, discussing the issues faced by different states along with discussion on implementation of Sagarmala Programme, development of National Maritime Heritage Complex (NMHC) at Lothal, opportunities in Ro-Ro / Ro-Pax / Ferry / Urban Water Transportation, Sagarmala Shipbuilding Clusters, Harit Nauka (Green Transition) Scheme for Inland Waterways, Cargo Promotion Scheme, MoUs with States for Coastal and River Cruise Tourism and support for State Inland Waterway Transport.

Chief Secretaries and Additional Chief Secretaries, as Chairpersons of SMWTCs, will present progress in their states, SMWTC initiatives, state-specific issues, and required support from the Ministry, aiming to review progress, address issues, and foster collaborative solutions to enhance maritime and waterways transport in India.

Tata Group Airlines completes harmonisation of operating manuals

Tata Group Airlines have concluded the harmonisation of the operating procedures across its key functions, including harmonisation of the supporting manuals across all four carriers, reaching an important milestone in the merger of four airlines into two.

Over the last 18 months, a team of more than 100 members have worked to align on the best practices and adopting common operating procedures. The result of this will be two separate manuals for the full-service carrier and the low-cost carrier.

“This is an important milestone in the merger of the Tata Group airlines and we are grateful for the support received from the Ministry of Civil Aviation in terms of timely clearances for the merger process. We are also grateful to DGCA for their continuous guidance, systematic review and approval of the harmonized operating manuals. DGCA has guided our teams with a safety-first change management approach which is congruent with the safety-first priorities of the TATA Group. The live tracker created by the Flight Standards Directorate of DGCA with a dedicated team for continuous monitoring of the progress of the harmonisation process has been instrumental in achieving the challenging task in a time bound manner,” said Campbell Wilson, Chief Executive Officer & Managing Director, Air India.

Air India and group companies are initiating the necessary crew training to action the harmonized processes, which will be another step in the direction towards building the new Air India and Air India Express.

After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. Air India is navigating through a major five-year transformation roadmap under the aegis of Vihaan.AI, with an ambition to become a world class airline with an Indian heart. The first phase of this transformation, the taxi phase was recently concluded, and focused on fixing the basics. These included bringing back to service many long grounded aircraft, addition of talent across flying and ground functions, rapid upgradation of technology and strengthening of customer care initiatives amongst others.

New EU trade body FEBI elects office bearers, aims to galvanise EU-India businesses

New Delhi, July 8, 2024: The Federation of European Business in India (FEBI), the official Chamber of EU businesses in India, supported by EU Delegation in India and the Embassies of the EU Member States, has held its first Annual General Meeting, marking a significant milestone in its new journey. The meeting formalised the Board of Directors with 14 elected members and confirmed key office bearers.

Mr. Rémi Maillard (President and Managing Director of Airbus in India and South Asia) will lead FEBI as its first President, with Mr. Sanjay Tiwari (Public Affairs Advisor to Maersk India Pvt. Ltd.) and Mr. Oscar Esteban (President, Indo-Spanish Chamber of Commerce), elected as Vice-President and Treasurer respectively. The inaugural AGM was held in New Delhi on July 4, 2024.

Mr. Hervé Delphin, Ambassador of the EU to India and Honorary President of FEBI said: “EU-India relations have been on an ascending trajectory, with a growing economic footprint. Over 4500 European companies are present in India, providing 6.5 million direct and indirect jobs. The EU is India’s largest trading partner in goods, with trade amounting to EUR 123 billion in 2022-23, and ranks among the top three investors in India. Ongoing negotiations for a Free Trade Agreement between the EU and India hold promise to enhance trade flows and economic cooperation significantly. FEBI will bring a very much needed business perspective that will contribute to the further expansion and bringing together of the EU-India economic and trade eco-system. It will be a true force multiplier.”

FEBI will maintain close and constructive relations with Indian and European authorities, acting as a credible intermediary between government and businesses and an advocacy place for pro-business policies and solutions. Currently, FEBI boasts a membership of 73 companies representing a diverse cross-section of EU Member States across 10 sectors in India, including Aerospace, Automotive, Agri-food Products, Chemicals & Pharma, Consumer & Luxury Goods, Finance & Insurance, Telecom & ICT & Digital Trade, Machinery & Capital Goods, Energy & Renewables, and Transportation & Logistics. More companies are in the process of joining FEBI.

“It is as much an honour as a responsibility to helm FEBI as its inaugural president. FEBI will serve as a bridge between Europe and India to deepen bilateral trade and investment. India’s rapid expansion holds significant potential for European companies to grow here in a symbiotic way. We will work with our Indian and EU stakeholders and industrial partners to ensure that trade opens more opportunities, thereby helping both regions to grow and thrive together. I thank my colleagues at FEBI for putting their trust and confidence in me,” said Mr. Rémi Maillard after his confirmation as President of FEBI.

FEBI’s Board of Directors include –

– Rémi Maillard, President and Managing Director, Airbus in India and South Asia
– Sayeed Ahmed, CEO/ Director, Biesse India Pvt. Ltd.
– Aditya Narain Sinha, Vice President & Director, ALAR Group, Business Development, International Seaport Dredging Pvt. Ltd. (DEME  Group Belgium)
– Stefan Leser, Managing Director, Groz Beckert Asia Private Limited
– Susanne Gun Elisabeth Pulverer, CEO and Chief Sustainability Officer, IKEA India Pvt. Ltd.
– Sanjay Tiwari, Public Affairs Advisor to Maersk India Pvt. Ltd.
– Shekhar Bhide, VP–Customer Services & Corporate Affairs, Mercedes-Benz India Pvt. Ltd.
– Ashutosh Sharma, Executive Director, Mondragon Corporation, India,
– Deepak Sharma, Managing Director & CEO, Schneider Electric India Private Limited,
– Payal S. Kanwar, Director General, Indo-French Chambers of Commerce and Industry (IFCCI)
– Stefan Halusa, Director General, Indo-German Chamber of Commerce (IGCC)
– Claudio Maffioletti, Secretary General, Indo-Italian Chamber of Commerce and Industry (IICCI)
– Oscar Esteban, President, Indo-Spanish Chamber of Commerce, CEO of SIS-Prosegur and Business Director of Prosegur for Asia
– Kamal Bali, President & Managing Director, Volvo Group in India, Chairman, Swedish Chamber of Commerce India (SCCI).

About FEBI: The Federation of European Business in India (FEBI) is the official Chamber of EU businesses in India, supported by EU Delegation in India and the Embassies of the EU Member States. FEBI’s mission is to articulate the collective business business interests of EU companies in India and facilitate the growth in trade and investment between the EU and India.