India and China together contribute 56% to the global economy

To Manage risk, organizations need to define clear Risk Matrix and need to assign ranking according to their respective industries

Confederation of Indian Industry (CII) organized the 2nd Edition of CFO Conclave 2019 on Friday, 06 December at Vadodara. The theme of the Conclave was “Risk Management and Corporate Governance – A CFO Perspective”. There were over 80 CFOs & Finance Heads who represented industries across Vadodara.

The
objective of the conclave was to focus on various challenges being faced by
CFOs/Finance Heads/Financial Decision Makers, impact of global regulations on
Indian economy, geopolitical shifts, business and regulations disruptions, and
risk management and mitigation. 

“GST
process in industries will have a simplified approach while holding hands with
GST Sugam & Sahaj Schemes in the near future. Companies can resolve the
pending litigations & settle disputes of less than Rs 50 Lakhs by paying
30% taxes without penalty and interest” said Mr Ashok Mehta, IRS Chief
Commissioner, Central Goods & Service Tax, Vadodara.

Speaking
at the Conclave, Anubhuti Sahay, Head – South Asia , Economics Research,
Standard Chartered Bank said that “We expect year 2020’s global growth to be
modestly better than 2019. However as we live in uncertain times, it’s
important to keep an eye on potential risks too like rescalation of US – China
trade tension, much slower than global growth or adversepolitical 
developments.” She added “India & China together contribute 56%
to the global economy. In year 2020 India will witness a growth of 5.3% whereas
China will have a growth of 6%”.

Georg
Sparschuh Chairman – CII Central Gujarat Zonal Council & President, Schott
Glass India Pvt. Ltd. said that “In the year 2019,Corporates globally witnessed
Economic, Environmental, Geopolitical, Societal & Technological risks
majorly.” He also added “To Manage risk, organizations need to define
clear Risk Matrix and need to assign ranking according to their respective
industries”.

“Monetary
and fiscal policies stimulous, will show positive results in India & China.
50 – 60 % of problems of Indian economy is due to mis-governance.” said Mr
Maulik Mehta, Past Chairman – CII Central Gujarat Zonal Council & Director
– Grand Polycoats Co. Pvt. Ltd.

The
program had 4 sessions which covered a variety of topics.