FTCCI CEO Forum's meet on 'Trade, Technology and Tourism’

Hyderabad, June 9, 2023: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) held FTCCI CEO Forum Meeting on "Trade, Technology and Tourism" in the city on Thursday evening at ITC Kakatiya. The event was powered by Radha TMT.

 
FTCCI is a 106-year-old chamber. It is one of India's oldest (ten years older than FICCI) and most dynamic regional chambers (out of approximately 120), established during the Nizam era.

 
Anil Agarwal, President of FTCCI while welcoming the gathering said "FTCCI CEOs Forum, established 20 years ago is a special interest group for CEOs. It accomplishes the needs of a Forum for senior business leaders to regularly meet and discuss the status of the industry with economists, political leaders, legal experts and bureaucracy among others in an informal manner. It provides a non-competitive environment for staff at the most senior level to network, share and learn from each other".
 

"The key aims of the forum include networking among senior business people for mutual benefit, and networking with the political class for proactive involvement in policies.  Besides these, to act as mentors for young and new business persons for the State’s economic development", Anil Agarwal said.
 

"The CEO Forum meets over dinner at regular intervals, with a minimum of 4-5 meetings a year. Senior political leaders and bureaucrats are invited based on specific topics for the dinner meeting. The Membership to CEO Forum is only by invitation and restricted to the CEO & top brass of the organization", he added.
 

Trade is the lifeline of economies, and serves as a catalyst for growth and prosperity. Tourism serves as a powerful instrument for cultural diplomacy, promoting peace, tolerance, and respect among nations, he said.

Telangana is at the forefront of technological advancements and is one of the top-performing states in the country with a more than 11% average growth rate of GSDP. As an apex chamber, FTCCI is always available to all the consulates working in the state for the development of trade technology and tourism, he added

A Panel Discussion on the same was organized on three key drivers of the economy—Trade, Technology and Tourism.  Jennifer Larson, US Consul General, Hyderabad; Orhan Yalman Okan, Consul General of Turkiye, Hyderabad and Gareth Wynn Owen, British Deputy High Commissioner, Hyderabad were the panelists. The panel discussion was moderated by K. Bhaskar 
Reddy, the Convener of the FTCCI CEO Forum.
 

Setting the tone for the discussion, moderator K. Bhaskar Reddy explained why the theme was chosen.  We as India are a technologically advanced nation.  We have become a force to reckon.  We have been navigating a globalized world efficiently.  We have balanced geo-political developments well. We are the fifth most powerful economy in the world.  G-20 is relying on Indian leadership.
 

Jennifer Larson, US Consul General, Hyderabad took over her office in the year 2022 representing the interests of the U.S. government in Telangana, Andhra Pradesh, and Odisha participating in the discussion said from 2000 to 2019, bilateral trade increased ten times to record $146 billion. The United States is India’s main export market, the second largest source of direct investment (over $13 billion in the 2020−2021 Indian financial year alone), and one of the main recipients of direct investments from India itself (their accumulated volume is $22 billion)
 

Telugus make up 40% of Indian students studying in the United States of America, she said.
 

She said they were foreseeing an increase in trade between India and the USA and aiming at 500 bn $ by the year 2023.
 

Gareth Wynn Owen who started as the Deputy High Commissioner to Andhra Pradesh and Telangana in September 2022  is responsible for all aspects of the UK’s engagement said the Indian Diaspora in the UK is the largest ethnic minority community in the country, including approximately 1.7 million British nationals of Indian origin and about 3,00,000 NRls living in the UK equating to almost 2 per cent of the UK population and contributing 6% of the country's GDP. At present, there are sixteen Indian-origin MPs in the UK Parliament.
 

We want to work with the world’s largest innovation campus T-Hub and other incubators in Telangana, he said
 

India is the UK’s 12th largest trading partner as of the end of 2022 accounting for 2.1% of total UK trade. Total trade in goods and services (exports plus imports) between the UK and India was £35.9 billion in the four quarters to the end of Q4 2022, HE Gareth added.
 

We plan to double trade with India by 2030 and target £70bn if Foreign Trade Agreement goes through, he said.
 

Okan who took over as Turkish Consulate General in Hyderabad in March 2022 said Turkey was among the first European countries to develop diplomatic relations with independent India in 1947.  There are cultural similarities between our nations.  Our Princess Durrushehvar Khanum was married to Moazzam Jah, the second son of Mir Osman Ali Khan, the last Nizam of Hyderabad. The Turkish noble ladies and the royals of the Nizam family had marriage ties.  Since the times of Nizams, we have had deep ties with Hyderabad.  Hyderabad is a well-known city in Turkey. It is one of the Silicon Valley in the world.  He listed out trade opportunities between the two nations.
 

The Consular General added that Turkey occupies the 46th position in FDI equity inflows into India with a cumulative FDI amount of US$ 216.11 million from April 2000 – September 2022. Turkish investments in India come up to US$ 223 million as per a report by the Indian Embassy, shared Consul General of Turkiye. 
 

The trade volume between the nations exceeded 12 billion USD in 2022. Both Governments voiced the new target as 20 billion USD. Türkiye imports from India mainly mineral oils/fuels, machinery/mechanical appliances, steel, flat steel products, vehicle spare parts, plastics and derivatives, organic chemicals and dyes, man-made fibers and filaments, and cotton/cotton yarn/cotton textiles. Major Turkish exports to India include marbles, fresh fruits especially apples, dried fruits, borax, machinery, dishwashers, construction materials such as stones and plastering materials, iron and steel, oilseeds, metallic ores, inorganic chemicals, precious stones, etc., added Okan. He also told about the mutual visits of the business delegations.
 

We are exploring collaboration with T-Hub.   A Turkish delegation visited T-Hub recently. We have invited T-Hub to Turkey. The Scientific and Technology Research Institute of Turkey (TUBITAK), a national agency of Turkey, is likely to set up an office in T-Hub, the diplomat informed.
India and Turkey enjoy film connections as well.  17 Indian movies were shot, 69 documentaries and 49 TV programs and others in Turkey.  Besides filmy connections, both nations enjoy wedding connections.  More than 30 Indian big fat destination weddings were held in Turkey.  We hope to have a direct flight from Turkey to Hyderabad in future, he shared.
 

The panelists delved into all three verticals of the topic besides details about their mission, plans and journey, investment plans, experiences and memories of Hyderabad, its culture, cuisine etc.  On the Technology front, they shared the kind of partnerships and technology transfers they were looking at between India, more specifically Telangana and their respective countries. 

 
On the Trade front, they shared insights into opportunities, investments and trends
 

Earlier, people used to pay visits to some specific tourist spots but now they go almost everywhere to enjoy the beauty. Especially after Covid, a new pattern of 'revenge travel' emerged.  In this light of the background, the panelists shared their views how the trend, the opportunities, existing tourism between India and their respective countries, and challenges.
 

Films on tourism of respective countries were screened on the occasion. Jasti Chelameswar, the former Judge of the Supreme Court of India, Dasari Balaiah, Regional Passport Officer, Sunil Saraf, Chairman of Radha Smelters Pvt. Ltd, Office bearers of FTCCI Meela Jayadev, Senior Vice President; Suresh Kumar Singhal, Vice President; Khyati Naravane, CEO; representatives of several trade bodies, several past presidents of FTCCI, members, committee chairmen, invited guests participated in the meet.