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Tag: FE CFO awards

  • FE CFO Awards: Will interact from a place of energy, says Goyal

    Union Minister for Commerce & Industry, Consumer Affairs, Textiles, Food and Public Distribution Piyush Goyal on Friday strongly rebutted the notion of a slight protectionist twist in India’s overseas commerce outlook and asserted that the nation was truly searching for a lot larger engagement with the world markets with “definitive offensive interests”.

    The nation’s mixed goods-and-services exports would cross the $2-trillion mark in a decade or earlier, enabling it to blossom into the ‘big league’ of world commerce, he stated.

    Speaking on the fifth version of the FE CFO Awards right here, Goyal stated the flurry of free commerce agreements being signed by New Delhi with its main commerce companions bore testimony to the nation’s dedication to being an integral a part of a world buying and selling system as long as it was “rule-based, transparent and fair”. “It is (not going to be) an India which closes its doors to the rest of the world, but one that would engage with the world from a position of strength,” he stated.

    He, nevertheless, made it clear the Modi authorities received’t rethink its determination to drag out of the China-dominated Regional Comprehensive Economic Partnership (RCEP), as Beijing’s commerce and pricing insurance policies remained opaque.

    The latest Comprehensive Economic Partnership Agreement (CEPA) with the UAE, India’s first shot at a bilateral commerce deal in over a decade, can be adopted by an array of offers with the entire of the Gulf Cooperation Council, Australia, Canada, the UK, European Union and Israel, he stated.

    Terming the India-UAE CEPA an ‘excellent pact’, he stated, its full textual content can be made public in a few days. “We are emboldened with the success of (UAE pact) and it will help expand bilateral trade from around $65 billion now to $100 billion very soon,” he stated, mentioning that the UAE would function a gateway for India to not solely West Asia but additionally Africa and a few European nations. India was poised to take large strides in the direction of Aatmanirbharta (self-reliance), due to assorted coverage steps meant for enhancing the size and competitiveness of the Indian business, he stated.

    “No country in the world has achieved sustainable economic growth without international engagement. We are, therefore, keen to expand our footprint in the developed world.” he stated. The minister, nevertheless, confused that the pursuits of India’s small-scale industries and the farm sector would have to be safeguarded when multilateral/bilateral commerce choices have been taken.

    Goyal stated the nation could find yourself with items exports of $410 billion within the present fiscal, whereas providers exports too can be a file $250 billion. fe

  • Piyush Goyal chief visitor at CFO Awards

    If there was a 12 months by which chief monetary officers (CFOs) have been put to the take a look at, it was 2020-21. The strain was excessive, and the choices only a few. At a particularly troublesome time when the pandemic disrupted operations as by no means earlier than, a number of CFOs proved they’d what it takes to return up as winners.

    The fifth version of the FE CFO Awards, to be held on Friday night in Mumbai, will acknowledge these stand-out professionals.

    Piyush Goyal, Union Minister for Commerce & Industry, Consumer Affairs, Textiles, Food and Public Distribution, would be the chief visitor on the operate and provides away the awards.

    Also addressing the gathering will probably be Sanjiv Mehta, chairman and managing director, Hindustan Unilever (HUL).

    The Lifetime Achievement award has been gained by Seshagiri Rao, Group CFO and Joint MD, JSW Steel, for his excellent efficiency over 4 a long time. He has not simply steadied the ship in troubled instances, he has additionally performed an vital half in JSW Steel’s inorganic development, overseeing 10 acquisitions.

    Srikanth Venkatachari, joint CFO, Reliance Industries, will stroll away with the CFO of the Year award for deleveraging the RIL stability sheet after borrowings topped $70 billion whereas guaranteeing the rankings didn’t fall. Venkatachari additionally performed a key function in a number of billion-dollar fairness offers with tech giants and pulled off a big Rs 53,000-crore rights concern.

    Twenty CFOs from throughout sectors can even be awarded for his or her sterling performances.

    All winners have been chosen by a distinguished jury chaired by Paresh Sukthankar, former deputy managing director, HDFC Bank. The different members have been Amit Chandra, chairperson, Bain Capital, Pradip Shah, chairman, IndAsia Fund Advisors, Ashu Suyash, former MD & CEO, Crisil,
    Ajay Srinivasan, CEO, Aditya Birla Capital, and Amit Tandon, MD, IiAS.

    Deloitte was the information associate and put collectively the information on financials. Companies have been positioned in one in every of two classes — manufacturing and providers. These have been sub-divided into three sections every; these with a turnover of between Rs 500 crore-Rs 1,500 crore, between Rs 1,500 crore-Rs 3,000 crore and people with a turnover of over Rs 3,000 crore.

    The firms have been ranked on the idea of some primary monetary parameters. In selecting the winners, the jury members, after all, took into consideration a number of different elements, together with M&A exercise, the efficiency of the involved sector, company governance, auditors’ feedback and credit score rankings.