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India's diversified entity <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="153" meta.entityid="ITC">ITC</keyword> plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director <keyword id="20049280" type="General" weightage="20" keywordseo="Sanjiv-Puri" source="keywords">Sanjiv Puri</keyword> said on Thursday. The company's arm <keyword id="20032522" type="General" weightage="20" keywordseo="ITC-Hotels" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC Hotels" meta.hostid="153" meta.entityid="ITC Hotels">ITC Hotels</keyword>, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the <keyword id="20402233" type="General" weightage="20" keywordseo="hospitality-sector" source="keywords">hospitality sector</keyword>. Besides the hotels business, the company will look for opportunities to expand the presence of <keyword id="19931572" type="General" weightage="20" keywordseo="FMCG" source="keywords" meta.keywordsubtype="org" meta.entityname="FMCG" meta.hostid="153" meta.entityid="FMCG">FMCG</keyword> and other verticals in new overseas markets as well. "We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...," Puri said here at a press conference after the opening of the 352-room luxury property, <keyword id="20911944" type="General" weightage="20" keywordseo="itc-ratnadipa" source="keywords">ITC Ratnadipa</keyword> here. He said as the company explores and understands a place for a particular business, it may look at it as a market for other verticals as well. Citing the example of Nepal, Puri said,"We started with other businesses and are now looking at hospitality (there). Here (in Sri Lanka) we have started with hospitality...as we explore and understand the place, we will look at possibilities in some of our other sectors as well." On overseas expansion of the hospitality business, while the company's focus is more on 'proximal markets', he said,"We are open to it if there are some interesting opportunities beyond it. We will certainly be interested in pursuing that." When asked if ITC is looking at the Middle East as a market for the hospitality business, he said it is a vibrant economy right now with terrific growth plans and "if opportunity comes our way then we will certainly explore that". Puri also said the company will look to expand in more destinations in Sri Lanka going forward. "This (opening of ITC Ratnadipa) is the starting point and yes, we want to expand and grow the economy and contribute to the development of tourism in Sri Lanka," he said. When asked about ITC's overall expansion plans in the hospitality sector, he said,"We have a very healthy pipeline of 70 hotels in five years." All these 70 hotels are for the Indian domestic market and most of them will be the upscale segments. He, however, said "(For) overseas we're just starting our journey. So we have not yet got to the stage to start putting a number right here." On investments planned for the overall expansion, he did not share a specific number but said "between renovation and new properties will spend somewhere between Rs 700 crore to Rs 1,000 crore a year". When asked about the progress of the demerger of ITC Hotels and its planned public listing, Puri said it is happening in line with the indicated timelines and is expected "before the second half of this year or the end of this year". At its new property here, the company had invested about USD 500 million. It was inaugurated on Thursday by Sri Lankan President Ranil Wickremesinghe. The ITC Ratnadipa or 'Island of Gems' has 352 guest rooms, suites and service apartments, each with private balconies with waterfront views. Earlier in the day, speaking at the opening of the new hotel, Puri said,"It is very natural for us to specifically focus on markets in proximal areas, encouraged also by our Prime Minister's (Narendra Modi) vision of neighbourhood first where Sri Lanka has a very special position. ITC is deeply committed to growing our presence and contributing to hospitality in the region." 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ITC plans to open more hotels overseas: CMD Sanjiv Puri

The total remuneration of ITC Chairman and Managing Director <keyword id="1968926" type="General" weightage="20" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> was increased 53.08% to ₹16.31 crore for financial year 2022-23. Puri drew a basic salary of ₹2.88 crore, perquisites and other benefits of ₹57 lakh and a performance bonus/long-term incentives/commission of ₹12.86 crore from ITC for 2022-23. A year ago, Puri's total remuneration was ₹10.66 crore, which included a basic salary of ₹2.64 crore, perquisites and other benefits of ₹49.63 lakh. However, his performance bonus/commission was ₹7.52 crore only in FY22. During the annual general meeting scheduled for August 11, ITC has proposed a resolution for re-appointment of Puri as a director and also as managing director &amp; chairman for five years or till such earlier date to conform with the policy on retirement from July 22, 2024. Puri was appointed as Managing Director of ITC on July 22, 2019, and his present term will end on July 21, 2024. After Puri, Nakul Anand is the second highest-paid employee of ITC with a total remuneration of ₹8.18 crore for FY23. He is followed by B Sumant with ₹ 7.58 crore. Anand oversees the hospitality and travel &amp; tourism businesses of ITC, while Sumant oversees the paperboards, paper and packaging as well as the personal care and education &amp; stationery products businesses of the company. According to ITC, "Remuneration of KMPs (Key Managerial Personnel) increased by 28% due to impact of revision in remuneration and payment of long-term incentives during the year." Moreover, the number of persons drawing a salary of more than ₹1 crore per annum was over 245 in FY23. In FY22, the number of such employees was around 220. Compared with financial year 2021-22, the median remuneration of employees has decreased 3%, while the average remuneration of employees has increased by 6%. Puri's ratio of remuneration to the median remuneration of all employees is 326:1. As on March 31, 2023, the total number of permanent employees in ITC was 23,725.

ITC CMD Sanjiv Puri drew ₹16.31 crore salary in FY23 - that's a 53% jump from last year

The process of the world's transition towards 'net-zero' needs to be inclusive to avoid accentuation of social inequality challenge and the 'exemplary progress' made by <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in the area is worthwhile for the global community to look at, <keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="itc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="itc" meta.entityname="ITC Ltd." meta.entityid="13554" meta.seoname="itc-ltd">ITC</keyword> Chairman and Managing Director <keyword id="1968926" type="General" weightage="50" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> said on Monday. In his address at the Business-20 (B20) India inception meeting in Gandhinagar, <keyword id="4903" type="General" weightage="100" keywordseo="puri" source="Orion">Puri</keyword> also called for collective efforts in the G-20 and global community to come together to find solutions in a collaborative fashion for a sustainable future. "The fact that the world has to transition to net-zero, the fact that the world needs to move to a more sustainable and greener future is well acknowledged and understood. However, as we all know, progress has not been adequate," Puri said at the meeting organised by <keyword id="6358345" type="General" weightage="50" keywordseo="cii" source="Orion">CII</keyword>. There are challenges, there are critical, financial and social issues that need to be addressed, to accelerate progress, he added. "It is important as we traverse this complex journey that the process is inclusive, no country, no community, no enterprise should be excluded in the process. Otherwise, the whole challenge of social inequality will only get accentuated," Puri cautioned. In this context, he said,"I think it would be worthwhile to look at the manner in which India has made exemplary progress in this area. India is on its way to deliver on the NDCs (Nationally determined contributions) that India has committed. It's in fact the only country amongst the G-20 that is in a position to do so." Whilst India has made appreciable progress through purposeful policy interventions, he said,"Equally it has recognised the need for an inclusive process. The focus on <keyword id="6358354" type="General" weightage="50" keywordseo="msme" source="Orion">MSME</keyword>, the focus on rescaling, upskilling, I think the whole India stack of digital provides the vehicles for collaboration and inclusive growth." <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata steel" meta.entityname="Tata Steel Ltd." meta.entityid="12902" meta.seoname="tata-steel-ltd">Tata Steel</keyword> CEO and Managing Director TV Narendran agreed that there was a need to move towards a sustainable future by taking along all the stakeholders. "There are millions of people who are working in the coal or the fossil fuel ecosystem. How do you, as you transition into renewable energies, rescale those workers or how do you make sure that you deal with the socio-economic consequences of the changes that we are bringing about particularly in developing countries where the socio-economic consequences are going to be immense," he said. He asserted that there are multiple areas that "we need to work on and I think there is a need for us to now get into the details and get into those milestones that we need to achieve over the next few years, even as we chase the goals that you've set for the next few decades." Puri termed the journey ahead as "complex" with focus on many areas needed and said,"it requires all of us collectively, in G-20 and the global community to come together and find solutions in a collaborative fashion while delivering our own promises." He cited the example of collaboration in the <keyword id="3155010" type="General" weightage="50" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> and said it has brought the world together to harness the power of solar energy. "Similarly, there are many other areas we need to collaborate on and put our heads together and forge ahead," Puri said adding, enterprises as large economic organs of society must lead the way. He further said,"We (enterprises) are also users of a lot of societal resources. It's good that there is greater amount of interest, better trust amongst corporates, but I think the movement needs to be made much faster, the movement needs to be made much more inclusive, much more widespread." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/b20-has-important-role-to-play-can-be-value-adding-for-world-says-n-chandrasekaran/articleshow/97244919.cms">B20 has important role to play; can be value adding for world, says N Chandrasekaran</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a>

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

Believing farmer producer organisations (FPOs) can transform agriculture, <keyword id="6357073" type="General" weightage="80" keywordseo="itc" source="Orion">ITC</keyword> Chairman <keyword id="1968926" type="General" weightage="80" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> on Friday said there are multiple opportunities in Indian agriculture today to achieve sustainable growth and productivity, given the grit and determination of Indian farmers and a proactive government. Speaking at the CII Agro Tech summit 2022 here, <keyword id="4903" type="General" weightage="100" keywordseo="puri" source="Orion">Puri</keyword>, who is also a Chairman of the agro tech, said agriculture is the lifeline of the economy and roughly half of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s workforce is engaged in this sector. However, its contribution to the gross value added (GVA) is only about 18 per cent with challenges such as low productivity and wastage, which translates to lower farm incomes. On challenges to the agriculture sector and the impact of climate change, Puri said: "Today the sector is faced with a challenge of epic proportions and it's not unique to this sector or to India. Last year many countries experienced events that dramatically reduced crop production. This year is no different, we have challenges in <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>, China and the US and recently in Indonesia. We have a neighbour whose agriculture sector has been devastated." India has its own share of problems -- first with wheat and now with rice. Although there is a great commitment towards net zero by countries and corporates, the reality is that extreme weather events will only multiply as articulated by the IPCC report, he said. Elaborating on the opportunities for agriculture, Puri said by 2050 given the population growth and better consumption patterns, India will need 60 per cent more food. There is also a movement towards healthier and more nutritious food products that give the opportunity for value addition. Agriculture being a provider of bio-diesel which tackles climate change is another opportunity in India, he said. "India has the largest arable land in the world and there is a huge opportunity to multiply and grow our productivity levels. We are self-sufficient today and we also have the distinction of having exported Agri products worth $50 billion but I think we can do much more." On the pathways that Indian agriculture can traverse towards sustainable growth and productivity, Puri said, "There are some important pathways available to us to surmount the challenges. "One is the power of FPOs and the power of aggregation. The government of India has taken very far-sighted steps to promote FPOs with multi-dimensional schemes to support capacity building and value addition. This is the pivot that will transform Indian agriculture." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/edtech-major-byjus-sacks-thousands-and-then-hires-lionel-messi/articleshow/95301630.cms">Edtech major BYJU's sacks thousands, and then hires Lionel Messi</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/samsung-logs-its-best-ever-diwali-sales-to-tune-of-14400-crore-in-sep-oct/articleshow/95302814.cms">Samsung logs its best ever Diwali sales to tune of ₹14,400 crore in Sep-Oct</a>

Farmer producer organisations can transform agriculture: ITC Chairman Sanjiv Puri

<keyword id="6357073" type="ORGANIZATION" weightage="100" keywordseo="ITC">ITC</keyword>, the <a href="http://www.businessinsider.in/Neither-Infosys-nor-HDFC-this-FMCG-company-is-now-Indias-3rd-most-valued-firm/articleshow/51210406.cms">FMCG </a>major from India, has announced the appointment of <keyword id="1968926" type="PERSON" weightage="100" keywordseo="Sanjiv-Puri">Sanjiv Puri</keyword> as its chief operating officer. Puri, who serves as ITC’s director, would be taking up the role with immediate effect. 
 
It was in December last year that Puri, who joined <a href="http://www.businessinsider.in/ITC-is-entrusting-younger-executives-with-great-responsibilities-handling-them-critical-roles/articleshow/51823455.cms">ITC </a>in 1986, was made the director of <a href="http://www.businessinsider.in/ITC-has-tasted-blood-wants-to-enhance-online-lifestyle-business/articleshow/51806905.cms">ITC</a>, replacing P Dhobale, before which he was the president of FMCG Businesses for two years, taking care of segments as <a href="http://www.businessinsider.in/ITC-bows-down-to-SC-ruling-shuts-cigarette-plants/articleshow/52141399.cms">cigarettes</a>, foods, personal care, education &amp; stationery products, matches and agarbattis. 
 
He also holds the responsibility for ITC's Packaging &amp; Printing Business (PPB) and Paperboards and Specialty Papers Division (PSPD) business, since January this year. 
 
<a href="http://i1.trekearth.com/photos/144338/img_0672_rt3.jpg">Image source</a>

Sanjiv Puri is the new COO of ITC

<keyword id="121459" type="CITY" weightage="100" keywordseo="ITC-Ltd">ITC Ltd</keyword> has informed the stock exchanges that two of its three executive directors — PV Dhobale and Kurush Grant — are retiring as the first had attained the age of superannuation while the second had taken premature retirement for health reasons. It's preferring President of Cigarettes and <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> business at ITC, <keyword id="1968926" type="PERSON" weightage="100" keywordseo="Sanjiv-Puri">Sanjiv Puri</keyword>, as the front runner to succeed long serving chairman <keyword id="131201" type="ORGANIZATION" weightage="100" keywordseo="YC-Deveshwar">YC Deveshwar</keyword> who is scheduled to hang up his boots in 2017. "Puri is the favourite (to be the next chairman) as of now unless there are sweeping promotions in the next few months," according to a source. The company has also appointed Puri and <keyword id="1601956" type="PERSON" weightage="100" keywordseo="Rajiv-Tandon">Rajiv Tandon</keyword> who is the chief financial officer, as additional whole time directors on the board while Nakul Anand remains executive director for hotel and lifestyle business. Puri will be the youngest of all the executive directors at ITC when he joins the board in December. This even as Anand is senior to Puri both in hierarchy and age. Still the latter is being considered the favorite to succeed Deveshwar as he spearheads the business that accounts for more than 60% of ITC's revenues and 80% of its profits. 

	An engineering graduate from IIT Kanpur who joined the company in 1986, Puri was promoted last December as the president of both the cigarettes and FMCG businesses of ITC, after handling FMCG distribution and cigarette business as divisional chief executive. 
 

	The company missed street estimates for its second quarter financial results and its share fell by 4.3% to Rs 334.70. The company attributed its weak performance to "unprecedented pressure" on legal cigarette industry sales volume, poor demand prevailing in the FMCG industry with instant noodle sales badly hit, and lack of trading opportunities in agri-commodities.

	 
	(Image credit: BCCL)

ITC announces retirement of two top executives; Sanjiv Puri may replace YC Deveshwar

New Delhi, Nov 28 () HDFC Bank on Thursday said it has formed a six-member committee to find a successor to Managing Director Aditya Puri who is set to retire in October next year.
 India's largest private sector lender HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
 "The board of directors of the bank at its meeting held today has constituted a search committee to identify a successor to Aditya Puri, the current managing director of the bank, whose tenure ends on October 26, 2020," the bank said in a regulatory filing.
 The search committee will comprise Shyamala Gopinath, Sanjiv Sachar, M D Ranganath, Sandeep Parekh, Srikanth Nadhamuni and Keki Mistry representative of HDFC, the parent of the bank. Gopinath is the bank's chairperson.
 "The search committee, over the next few months, shall evaluate internal and external candidates to ensure smooth transition," the bank said.
 Puri will act as an advisor to the search committee, the bank said.
 It is noteworthy that Puri, the managing director and chief executive since 1994 when the bank was set up, has seen a whopping 41 per cent increase in total remuneration in 2019 to Rs 13.67 crore.
 He turns 70 next year and has been instrumental in getting the bank to its current stature as one of the most valued banks globally in terms of price to earnings ratio.
 Also there are reports that Puri, an ex-Citibanker, may continue as the non-executive chairman post retirement.
 Separately, the board of directors of the bank also approved appointments of Sashidhar Jagdishan and Bhavesh Zaveri as an additional directors and executive directors for a period of three years period each from November 28, 2019, subject to RBI approval. KPM SHW
SHW

HDFC Bank sets-up panel to find successor to managing director Aditya Puri

Taking a cue from the success stories of the <keyword id="428085" type="UNKNOWN" weightage="20" keywordseo="start-ups">start-ups</keyword> in India, FMCG giant Hindustan Unilever too is trying to bring in the start-up culture in its over 50 year old corporate set-up. And it is the group’s year and half old chief executive, <keyword id="169120" type="PERSON" weightage="20" keywordseo="Sanjiv-Mehta">Sanjiv Mehta</keyword> who is spearheading this change. 
 
According to an ET report, in a bid to keep up with the changing time, the company is now approaching the market with a start-up approach, wherein young groundsmen can freely challenge the status-quo. 
 
"We want to have the soul of a small company where speed is the currency, bias for action is the norm, where people are empowered on the frontline and they are not risk-averse. In many ways, it is akin to a startup culture,” said Mehta in the report. 
 
He added that the structure was getting linear, which took into consideration the aspirations of the young people, who have adapted to the changing dynamics of the overall industry. 
 
"When the change outside happens faster than the change inside, then it becomes a subject of concern. That is the reason we continuously reinvent ourselves to remain relevant to the context," he explained. 
 
The report suggested that the conglomerate’s initiatives such as free radio-on-demand service Kan Khajura Tesan or branding millions of rotis at the Kumbh Mela with the Lifebuoy hand-washing message were all made at the ground level by young managers, who were directly in touch with the consumers in the region. 
 
Similarly, the company has now allowed the next-gen leaders to approve or reject projects, some of which run in hundreds of crore of rupees. 
Interestingly, the group has also got several India Inc leaders such as Ratan Tata, Aditya Ghosh, president of low-cost carrier Indigo, HDFC Bank chief Aditya Puri and entrepreneur Praveen K to share tips with the employees of the company. 
 It should be noted that <keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword> clocked in a sale of a whopping Rs 31,000 crore in FY 15.

Know why India’s largest FMCG major HUL is revamping its work culture

<ul><li><keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword> believes that the Indian agriculture sector is “seriously threatened” by climate change and it needs attention.</li><li>It adopted a multi-pronged strategy to overcome the challenges, while increasing its profitability.</li><li>The company’s advisory app for farmers called Maars has a big role to play.</li></ul>The Indian agriculture sector is ‘seriously’ threatened by climate change and population explosion, and this calls for a higher level of production, ITC’s chairperson and MD Sanjiv Puri said. With that being said, ITC adopted a multi-pronged strategy to overcome the challenges put forth by the Indian agriculture sector. ITC believes that a strategic focus on value-added crops, its advisory app for farmers <keyword id="14508487" type="General" weightage="20" keywordseo="itc-maars" source="Orion">ITC MAARS</keyword> and climate smart agriculture will drive new vectors to sustain growth and profitability in this area. Notably, ITC’s agri-business sources over 40 lakh tonnes of agri-commodities from 22 Indian states and 20 agri-value chains. It also exports to over 95 countries across the globe. In an annual general meeting held on Wednesday morning, Puri emphasized that agriculture productivity and incomes today are seriously threatened by climate change and depleting natural resources. The rising populations have been making the issue worse as the demand for food is increasing. “ITC is committed to make a meaningful contribution to this new era of agricultural transformation,” Puri added during the AGM. ITC believes that the current situation calls for higher levels of production, building of competitive agri value chains, crop diversification to value-added products and scaling up of food processing to serve emerging consumer needs. <cmsannotation type="cmsannotation" annotationid="ITC’s MAARS app for farmers has a big role to play in it" comment="subhead" text="ITC’s MAARS app for farmers has a big role to play in it">ITC’s MAARS app for farmers has a big role to play in it</cmsannotation> To meet the target, the company will be focusing on accelerating adoption of advanced technologies through ITC MAARS. This will enable ITC to create a new and scalable revenue stream while benefiting farmers, Puri emphasised. ITC launched the MAARS app a few months back to offer artificial intelligence/machine learning (AI/ML)-driven personalised and hyperlocal crop advisories to farmers. It also provides access to quality inputs and market linkages as well as allied services like pre-approved loans. Puri added that the app has the potential to become a “considerable segment” of ITC’s agri-business, and is currently accessible by 40,000 farmers grouped into over 200 Farmers Producer Organizations (FPO) across seven states. “At the core, is your company's endeavour to restructure the backend into a robust network of vibrant FPOs to aggregate farmer effort and enhance efficiencies,” he said. ITC aims to engage and empower 4,000 FPOs, consisting of a crore farmers, over time. Puri emphasised that although nearly half of the country's workforce is dependent on the agriculture sector, it contributes to less than 19% of the country's gross value added (GVA). This reflects the challenges of low productivity, investments and incomes. “The opportunities arising out of India's growth story have also encouraged us to invest in five new manufacturing facilities that will be commissioned in the near term in areas such as agri and food processing, as well as packaging, among others. These assets are deeply aligned to the country's 'Make in India' and 'Digital India' vision as well as to the endeavours to 'Double Farmers' Income',” Puri said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/fpi-selling-intensity-abates-in-july-as-global-macros-improve-commodity-prices-cool/articleshow/93003529.cms">FPI selling intensity abates in July, as global macros improve &amp; commodity prices cool</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-net-profit-drops-12-drop-in-q1-as-recession-fears-grip-its-non-us-clients/articleshow/93006573.cms">Wipro’s net profit drops 12% drop in Q1 as recession fears grip its non-US clients</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilevers-resurgent-quarter-signals-demand-recovery-later-this-year/articleshow/93004051.cms">Hindustan Unilever’s resurgent quarter signals demand recovery later this year – brokerages bullish</a>

ITC is relying on its advisory app for farmers, valued-added crops to grow its agri-business

Chandigarh, Dec 4 () Leading corporate honchos of the country, including Sunil Mittal, Uday Kotak, Sanjiv Puri, will attend the two-day Progressive Punjab Investors Summit, starting on Thursday.
 The event, which is being organised by the Punjab government, will see participation from micro, small and medium enterprises (MSMEs), leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries.
 An interactive session with Chief Minister Amarinder Singh on Thursday will be the highlight of the investors' summit, with a focus on putting the state's MSME sector on the centre stage of the global value chain, the state government said in a release on Wednesday.
 The chief minister's session on 'Blueprint for accelerating growth' will have East India Hotels Executive Chairman P R S Oberoi, Kotak Mahindra Bank Executive Vice Chairman &amp; MD Uday Kotak, ITC Chairman Sanjiv Puri, Hinduja Group Europe Chairman Prakash Hinduja, Hero Enterprise Chairman Sunil Kant Munjal and Vardhman Textiles Vice Chairman &amp; Joint Managing Director Suchita Jain as participants, it said.
 Satoshi Suzuki, Ambassador of Japan to India, will deliver his keynote address and will also set the tone of the two panel discussions, the release said.
 The second panel discussion of the afternoon session will see participation of Bharti Enterprises Chairman Sunil Bharti Mittal, HDFC MD Aditya Puri, DLF Vice Chairman Rajeev Singh, Sharaf Group Vice Chairman Sharafuddin Sharaf and Bharat Hotels (Lalit Hotels) CMD Jyotsna Suri. 
 The investor summit is set to build strong business partnerships for the state across sectors, with thrust on MSMEs, it added.
 It will be a platform for global leaders, industrialists and experts to come together to share their narratives on emerging markets and discuss ways to address the shifting industry requirements in this age of disruptions, said Vini Mahajan, Additional Chief Secretary, Punjab.
 The panel for MSME session will include representatives from World Bank and UNIDO, and will set the context of the summit's theme. 
 The highlight of the session will be an MoU exchange with e-commerce platforms Flipkart and Amazon. 
 The UK Country session will see a discussion on 'Punjab &amp; UK: Opportunities for Innovation and Technology'.
 British Deputy High Commissioner to India Andrew Ayre will make a presentation during the session, the release said. CHS VS RVK

Leading industrialists to take part in Punjab investors' summit starting Thursday

New Delhi, Feb 17 () The 15th Finance Commission on Monday decided to set up an eight-member high level expert group headed by ITC chairman Sanjiv Puri to recommend strategies and measures to increase farm productivity and boost exports.The panel will recommend measurable performance incentives for States to encourage agri exports as well as to promote crops to enable high import substitution, the Finance Commission said in a statement. The committee will submit its recommendations within three months for further consideration of the Commission, it said.As per the Terms of Reference, the panel would "assess export and import substitution opportunities for Indian agricultural products (commodities, semi processed and processed) in the changing international trade scenario and suggest ways to step up exports sustainably and reduce import dependence."It will also recommend strategies and measures to increase farm productivity, enable higher value addition, ensure waste reduction, strengthen logistics infrastructure etc. related to Indian agriculture, to improve the sector's global competitiveness.The panel is expected to identify the impediments for private sector investments along the agricultural value chain and suggest policy measures and reforms that would help attract the required investments.The committee will also suggest appropriate performance-based incentives to the state governments for the period 2021-22 to 2025-26, to accelerate reforms in the agriculture sector as well as implement other policy measures in this regard. Apart from Puri, other members of the committee also included former Agriculture Secretary Radha Singh Nestle India CMD Suresh Narayanan, UPL CEO Jay Shroff and RIS Director General Sachin Chaturvedi. DP MRMR

Finance Commission constitutes expert group on agriculture exports

New Delhi, Dec 21 () From policy stability to emphasis on exports of local goods, key industry players on Saturday discussed and suggested measures for making India a USD 5 trillion economy.
SAIL Chairman Anil Kumar Chaudhary, ITC Chairman and Managing Director Sanjiv Puri, Cadila Healthcare Chairman Pankaj R Patel, Bharti Enterprises Vice Chairman Rajan Bharti Mittal and JK Paper Vice Chairman and Managing Director Harsh Pati Singhania took part in the discussion during a session on 'India: Roadmap to a USD 5 trillion economy' organised by industry chamber FICCI here.
The executives stressed on the need for Indian manufacturing to become globally competitive and join global value chain as the key ingredients for becoming a USD 5 trillion economy.
"If we have to reach the level of USD 5 trillion economy by the next five years, we have to be globally competitive. India also needs to increase its exports of steel and other manufactured items," SAIL Chairman Chaudhary said.
Cadila Healthcare Chairman Patel said that policy stability is required for any business to grow. "Without policy stability it becomes impossible for industry to plan long-term goals."
"We all know that manufacturing is not something we can decide today and begin the production tomorrow. It takes time. Besides, innovation has the most important role to play for any industry to survive," he said.
Bharti Enterprises' Rajan Mittal suggested that the government should focus on strengthening the digital backbone of the country.
Industry has been disrupted, he said adding that government's intervention is needed.
J K Paper's Singhania said the country's manufacturing sector first needs to become internally competitive as several factors are still holding it back including the multiplicity of regulations from different regulators.
ITC CMD Puri said that "farming is a large employer. Lots of jobs were created in the post-harvest management". 
"Even the food processing segment has the largest employment to capital ratio. We need to plug into the global value chains in value-added agricultural products," he added. ABI MKJ

Industry captains discuss road map for USD 5 trn economy

<ul><li>The market regulator Securities and Exchange Board of India (SEBI) mandated that the chairperson, <keyword id="115930" type="POSITION" weightage="20" keywordseo="Chief-Executive-Officer">chief executive officer</keyword> (CEO) of the company can not be the same. </li><li>Wipro’s Abidali Neemuchwala and Karur Vysya Bank’s PR Seshadri quit citing ‘personal’ reasons. </li><li>Of the top 500 companies, more than 160 have shared chairperson and CEO posts — and another 50 companies have the chairperson related to the CEO. </li><li>Checkout the 10 top Indian companies are looking for CEOs.</li></ul>The resignation of <a href="https://www.businessinsider.in/business/news/abidwali-neemuchwalas-scorecard-as-wipros-ceo-for-four-years/articleshow/73794632.cms">Wipro CEO Abidali Neemuchwala</a> made headlines a few days ago. The reasons for his departure were ‘personal’, there are many other Indian firms that are looking for top talent to sit in the corner office. In a bid to scale up the the corporate governance practices, the market regulator Securities and Exchange Board of India (SEBI) mandated that the chairperson, chief executive officer (CEO) and the managing director (MD) of the company can not be the same. The new mandate, that is applicable to the fortune 500 companies will kick off on April 1, 2020. Of the top 500 companies, more than 160 have shared chairperson and CEO posts — and another 50 companies have the chairperson related to the CEO— <a href="https://economictimes.indiatimes.com/markets/stocks/news/sebis-cut-off-for-separate-chairman-and-md-is-here-are-family-run-businesses-ready/articleshow/72973247.cms">according to the</a> Economic Times report. This has opened up vacancies across companies like <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, Hindustan Unilever and ITC, aside from Wipro. While Neemuchwala will stay on till Wipro finds his successor, the corner office of <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/karur-vysya-bank-ceo-md-resigns/articleshow/73116982.cms">Karur Vysya Bank CEO PR Seshadri’s last working day</a> will be March 31, 2020. The key qualities of a CEO These top executives must have experience, observation skills, as well as a strong network to the table. “The top executive needs to have the ability to align themselves with the company’s vision. The new SEBI regulations which states that companies cannot have the same person as a CEO as well as Chairperson will create a lot of demand initially, this might lead to some relaxation of assessment standards for some time,” Ajay Shah, VP and head of recruitment at TeamLease Services told Business Insider. “These thought leaders provide much more than just a reference. They also provide counsel; they serve as sounding boards; they act as voices of depth and reason; they help frame a CEO search in the context of the organisation,” Deepak Parekh, chairman at HDFC <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/how-godfathers-of-ceo-hiring-in-india-inc-choose-best-candidate-for-the-top-job/articleshow/34348018.cms?from=mdr">told</a> the Economic Times. It doesn’t take days or hours of interviews. For me, 10 minutes is enough to assess if the candidate is right for the job,” Parekh added. “The <keyword id="1668152" type="PERSON" weightage="20" keywordseo="CEO-hiring">CEO hiring</keyword> protocols that Indian companies follow generally start with external agencies or search firms identifying suitable candidates and the boards or promoters interviewing them. Top 25 thought leaders in India across sectors are tapped for referencing for top appointments. Along with quality references these thought leaders also provide counselling for such hires,” Shah added. Here are the top Indian companies are looking for CEOs: Reliance Industries 
	<div type="image" title="ambani" msid="73997124" hostid="261" caption="&amp;lt;p&amp;gt;Mukesh Ambani&amp;lt;/p&amp;gt;"></div>

 Market Cap: ₹924,038 crore Chairman &amp; CEO: Mukesh Ambani Hindustan Unilever 
	<div type="image" title="sanjiv mehta" msid="73997127" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Mehta&amp;lt;/p&amp;gt;"></div>

 Market Cap: ₹464,839 crore Chairman &amp; CEO: Sanjiv Mehta ITC 
	<div type="image" title="sanjiv puri" msid="73997131" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Puri&amp;lt;/p&amp;gt;"></div>

 Market Cap: ₹262,428 crore Chairman &amp; CEO: Sanjiv Puri ONGC 
	<div type="image" title="shashi shanker" msid="73997134" hostid="261" caption="&amp;lt;p&amp;gt;Shashi Shanker&amp;lt;/p&amp;gt;"></div>

 Market Cap: ₹135,112 crore Chairman &amp; CEO: Shashi Shanker NTPC 
	<div type="image" title="gurdeep singh" msid="73997139" hostid="261" caption="&amp;lt;p&amp;gt;Gurdeep Singh&amp;lt;/p&amp;gt;"></div>

 Market Cap: ₹110,621 crore Chairman &amp; CEO: <keyword id="108414" type="PERSON" weightage="20" keywordseo="Gurdeep-Singh">Gurdeep Singh</keyword> Adani Ports 
	<div type="image" title="adani" msid="73997149" hostid="261"></div>

 Market Cap: ₹75,174 crore Chairman &amp; CEO: <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> Karur Vysya Bank 
	<div type="image" title="PRS Karur" msid="73997152" hostid="261"></div>

 Market Cap: ₹4,092 crore Former Chairman &amp; CEO: PR Seshadri Coal India Market Cap: ₹121,036 crore Chairman &amp; CEO: <keyword id="806462" type="PERSON" weightage="20" keywordseo="Anil-Kumar-Jha">Anil Kumar Jha</keyword> BPCL Market Cap: ₹107,161 crore Chairman &amp; CEO: Duraiswamy Rajkumar Power Grid Corporation of India Market Cap: ₹100,629 crore Chairman &amp; CEO: Kandikuppa Sreekant

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