Vice Chancellor, Panjab University Presided Business Conclave at UBS Ludhiana
Ludhiana, January 23, 2019: A Business conclave on the theme “MSME - The Backbone of Indian Economy” concluded at University Business School, Panjab University Regional Centre, Ludhiana. A first of its kind event was organized by UBS Ludhiana in collaboration with Chamber of Industrial and Commercial Undertakings (CICU). Approximately 150 participants including local entrepreneurs, many leading industrialists, government officials and students attended the conclave. Professor Raj Kumar, Vice Chancellor, Panjab University, Chandigarh graced the event as Chief Guest where as Sh. B. K. Jha, Principal Chief Commissioner Income Tax, North West Region were present as Guest of Honour. Dr. Meera Nagpal, Assistant Professor, University Institute of Law, PU Regional Centre introduced the guests.
Professor Ravi Inder Singh, Director, PU Regional Centre, Ludhiana welcomed the guests and apprised the audience that primary objective of this conclave is to provide a platform to the energetic and visionary entrepreneurs to encourage and exchange ideas, foster innovation and discuss developments in the buzzing business world.
Professor Raj Kumar, Vice chancellor, Panjab University, Chandigarh congratulated director, faculty, staff and students for taking this initiative. He emphasized that MSMEs constitute over 90% of the total enterprises in most of the economies. Despite their high enthusiasm and capabilities to grow, they are facing number of problems issues and problems. Platforms like this will help them overcoming problems they are struggling with. Sh. B.K. Jha, Principal Chief Commissioner Income Tax, North West Region, while addressing the participants shared that in order to benefit the businesses Income tax department is coming up with a new technology wherein an income tax returns will be processed in a single day and will bring more transparency, stability and honesty in the system. He appreciated the idea of Business Conclave a bridge between academia and industry.
Proceedings of the conclave were divided in to two panel discussions. Topic of discussion for the Panel-I was “Ease of doing Business.” Panel-I comprised of renowned experts from industry such as Mr. D.L. Sharma, Director, Vardhman Textiles Ltd.; CA Nipan Bansal, Insolvency Professional & Partner at Parshotam Associates; Mr. Pankaj Sharma, Managing Director, Osha Tools Ltd.; Mr. Nitin Shahi, Director, Findoc Financial Services Group. Discussion in the Panel-I was moderated by Mr. Kamal Wadhera, President, Ludhiana Management Association & CEO of TCY Learning solutions. Panel discussed about various initiatives taken by govt. authorities to ease the doing of business particularly the online systems for applying different licenses and approvals. Panel advised the authorities to take moves to resolved challenges being faced by businesses like GST refunds, non-availability of electricity at concessional rates for MSMEs, continuous changes taking place in govt. policies and procedures for various approvals and licenses etc.
Mr. Rahul Ahuja, Managing Director, Rajnish International acted as Moderator for discussion amongst Expert Panel-II in which focus of discussion was on “Emerging Global markets for Indian Products.” Panel-II consisted of Mr. M.S. Dhillon, Director General Foreign Trade; S. Upkar Singh Ahuja, Chief Managing Director, New Swan Group; Mr. S.C. Ralhan, Managing Director, Sri Tools Industries; Mr. Deepinder Singh Ranger, Deepak International Ltd.; Sardar S.S. Bhogal, Managing Director, Bhogal Sales Corporation; Ms. Kamna Raj Aggarwal, Managing Partner, GDPA Fasteners and Partner in Kari Technologies; Mr. Prashant Uppal, Opal Engineering Ltd. Phagwara.
Panel discussed about the image of India as a brand in global market and China as one of its major competitors. Panel further discussed about expectations from government strengthen the position of India in global trade wherein major focus remained on infrastructural upgradations and improvements in the logistics to overcome the congestion on the ports. Vote of thanks was proposed by Dr. Ashish Saihjpal, Co-ordinator, UBS Ludhiana. The event concluded with National Anthem.