The inaugural zonal council meeting of the Confederation of Indian Industry (CII) Bhopal Zone for the fiscal year 2024-25 was convened on Thursday. Chaired by Pulkit Sharma, Zonal Chairman and Executive Director of Daulatram Engineering, the meeting centered on the theme ‘Parivartan, Pehchan, Prakrati: A Vision for the Future Ready Bhopal Region.’ Industry leaders and stakeholders gathered in Bhopal to discuss the transformative potential of the city and to establish the agenda for the upcoming year.
The meeting featured a stimulating exchange between CII Bhopal Zone members and SM Ramanathan, Executive Director of BHEL (Bharat Heavy Electricals Limited). Ramanathan presented the opportunities and avenues for collaboration between BHEL and local industries of Bhopal, particularly MSMEs (Micro, Small, and Medium Enterprises). He highlighted BHEL's user-friendly online portal, operational round-the-clock, which offers a seamless registration process from initial design concepts to tooling and beyond. BHEL's comprehensive support includes guidance throughout research and development phases and type testing. Ramanathan also outlined procurement preferences, bill discounting benefits, and other incentives aimed at fostering partnerships with local enterprises.
Ramanathan emphasized BHEL's commitment to Government-e-Marketplace (GeM) by tendering requirements and providing startups with opportunities to supply goods through the Startup Runway on GeM. He highlighted relaxed criteria for prior experience and introduced the unifier supplier development cell to engage new vendors in diversifying supplier networks.
The discussion also touched on direct Tax Reforms, where CA Amit Jain highlighted the recent amendments in Section 43(B) (h) of the Income Tax Act and the important implications on Assessee having dues of Micro and Small Enterprises. He said that these changes have been made with the aim of ensuring the compliances of MSMEs Act 2006 so as to provide them more flexibility and relief. Under the amended provisions, amount payable to MSMEs, such as payment for certain services or goods, are now eligible for deduction in the year of payment only instead of the year of accrual. He said that these adjustment will ease cash flow constraints for MSMEs, allowing them to manage their finances and business more effectively.
Vote of thanks was presented by Mr Rajendra Patel, Vice Chairman CII Bhopal zone and Director Makson Group. The zonal council meeting provided an invaluable platform for industry stakeholders to strategize and set the agenda for enhancing Bhopal's industrial landscape in the coming year. The discussions underscored the commitment of CII Bhopal Zone and its members to drive sustainable growth and economic development in the region.
