United Economic Forum

37th Annual General Body Meeting of United Economic Forum and 3rd Annual General Body Meeting of UEF Chamber of Commerce

37th Annual General Body Meeting of United Economic Forum and 3rd Annual General Body Meeting of UEF Chamber of Commerce

Interaction Meeting with Indonesian Aceh Business delegates held on 19th July, 2019 at Chennai.

IFTAR 2019

Entrepreneurship Development Programmed & UEF Zonal Meet at Erode

The meeting commenced with Qirath by Moulvi Anvar.

Welcome address by Dr. K.M. Abul Hasan, Managing Director, City Hospital, Erode, and Director & Coimbatore Zonal Secretary, UEF:

Dr. K.M. Abul Hasan said that it is an historical event organized for entrepreneurial development and to promote business. He also said that our community is backward in all fields. He further said that Net Per Capita Income of Muslims is comparatively low and they are found to be of lowest earning at 33% at national level as per statistical data. Hence, he said, EEA with state level organization UEF has organized this event for enriching community.

Dr. K.M. Abul Hasan quoted from holy Quran wherein Allah says “I will not change those who do not change themselves”. He said that if we have to escape from the displeasure of Allah we have to act. He also said that the statistics should change by our hard work and Muslim should contribute more for Indian GDP to get more respectability. He further said that top successful entrepreneurs will address this gathering today. He mentioned about Mr. Basheer who was international cycle champion started a startup courier firm and employed 30 persons who were given cycles to practice and after some period all the 30 persons participated in the National event. He whole heartedly welcomed all the UEF Directors, Speakers, District Secretaries, Guests and participants.

Inaugural address and UEF Chamber of Commerce by Mr. W.S. Habib, Managing Director, RWD and Director General, UEF:

Mr. W.S. Habib said that UEF was started by Founder Alhaj Dr. B.S. Abdur Rahman Sahib more than 3 decades ago and now UEF is headed by his son Mr. Ahmed A.R. Buhari. UEF has more than 300 active members who are leading industrialists, businessmen, professionals, etc. He spoke about 5 zones and explained about UEF Vision & Mission. He mentioned that in December 2016, UEF became a Chamber of Commerce and the same was launched in Leela Palace Hotel which was inaugurated by Dr. Pratap C. Reddy, Chairman, Apollo Hospitals. He also mentioned about UEF conducting special meetings by inviting distinguished speakers. He also spoke about W.I.E.F. and said that UEF delegation attends W.I.E.F. international conferences regularly. He also spoke about MOU signed by UEF with Turkish India Chamber of Commerce, the recent visit made by Kyrgyzstan business delegation and the upcoming visit of Bosnian Ambassador. He mentioned about UEF understanding with TiE who help viable projects through investments by Angel investors. He spoke about UEF plans to work closely with CII and invite business delegation from Muslim countries. He introduced UEF GM Mr. A.W. Peer Ahmed and Sr. Manager Mr. T. Rizwan Ahmed and informed that they will assist anybody who approaches for project guidance. He concluded his speech by stating that UEF will become a leading Chamber of Commerce and requested the participants to join UEF and contribute to the society.

Mr. Chinnasamy, Director, Agni Steels:

Mr. Chinnasamy said that he belongs to middle class family and had a petty shop and had passion to become industrialist. He also said that first he started a foundry with the dream to put up a big factory like Tata steel and also started reading books on Tata. He said that 20 years back when he wanted to start a steel project the requirement was Rs.13.5 Crores, he approached ten friends, of them, only three came out to invest in his dream project. He shared his difficulties in getting finance when he approached TIIC for loan who insisted for bank guarantee. He also mentioned about the difficulty in getting power sanction from TNEB as his power consumption was more than 1000 MW. Thus no power no money. He said that he was lucky when Mr. Antony IAS, TNEB Chairman was kind enough to help him in giving power after he approached him several times. He said that similarly TIIC Chairman exempted collateral security. Thus he started his successful journey. He further said that he established two units, one unit producing sponge iron from iron ore and another unit ingot from sponge iron. He shared his experience when he visited South Africa where he found Gujarati Muslims and people from Tamil Nadu had settled there since 150 years living with close harmony. He spoke about the steel project which he has put up in South Africa producing 10,000 tons and the said project became possible thanks to the partnership of Muslim friends of South Africa.

He mentioned about Dr. K.M. Abul Hasan’s remarks on Muslims being found in 33% low income category and emphasized the community to take efforts for development and to encourage students for higher education.

He guided the budding entrepreneurs by stating that they should develop intelligent boldness to venture into business / industry.

He said that money is secondary only, good ideas and innovations are required. He stressed on developing helping mind for the community. He emphasized that community should develop for developing the Nation. He also emphasized on eco friendly development of Erode.

Erode Municipal Commissioner Mr. Ajmal Khan:

Mr. Ajmal Khan said he is from Ramnad. He stressed on learning and skill development. He said that whether he gets IAS or not he will continue to serve the state. He mentioned about Erode as different city where people are venturous and also appreciated the good contribution made by Erode Educational Academy. He stressed on learning from success stories. He said that in Malaysia there are more no. of Muslim Women entrepreneurs whereas in India Muslim women entrepreneurs are less and therefore he stressed on UEF to develop more Muslim women entrepreneurs.

Mr. M.C. Robin, Chairman, MCR Textiles:

He spoke on religious virtues and said that industrial development will give more employment and more revenue to Govt. He also said that we have responsibility to give our best to the nation. He mentioned that his father came from Kerala and started a textile business. Many of the properties of his father were sold due to heavy losses. He also mentioned that when his family was in distress, small helps were forthcoming from Muslim neighbors. He said that he got employed as salesman in a textile shop and out of his savings he started a small textile shop. He also said that with day and night of hard work and with honesty, his business flourished. He further stated that when opportunity knocks the door you must utilize the same. He spoke about VG Panneerdas who started a TV and Fridge shop and offered a unique system of business in installments which gave him success. He also spoke about the new concept developed by a chik shampoo company in 1980s by selling a Shampoo in sachet which is also a grand success. Enthused by the above, he developed a new product called printed dhotis. He said that he met a leading Actor of Kerala Mammootty who helped in advertising and launching his MCR brand dhotis which were first patronized by Muslims of Kerala. He concluded his speech by stating that a good entrepreneur should not run away from problems but instead should overcome his problems by adopting innovations.

Dare the Change Mr. KKSK Rafiq, CMD, KKSK Tannery and Erode District Secretary, UEF:

Mr. KKSK Rafiq said that Agni Steel Director Mr. Chinnasamy spoke about the help he got from Antony IAS officer and MCR products getting patronage from Muslim buyers clearly indicates that business sees no religion. He also said that students soon after education want to start business. He made a PPT presentation on fourth industrial revolution which will result in many unimaginable thinks going to happen due to innovations. He described WhatsApp as a recent development which is used for startup development in many fields. He also spoke on driverless car and third generation robotics and many more inventions which are going to take place. He mentioned that photo industry is waning whereas food industry flourishing and therefore cautioned budding entrepreneurs to watch the changing business trends and adapt to innovations. He also stressed on Research and Development by each industry. He also said that KKSK Tanneries and its business are free from bank loans.

Vote of Thanks by Mr. A. Althaf Husain, Director, UEF:

Mr. A. Althaf Husain said that the speech of Mr. Chinnasamy was very impressive and Mr. MC Robin explained beautifully how he became a successful entrepreneur and the speech of KKSK Rafiq was very interesting. He also said that in the present scenario one has to adopt recent technology in his business. He concluded his speech by expressing his happiness that UEF Founder’s ambition on entrepreneur development is succeeding.

Award for Best Start Ups:
Mr. Jiffry for plastic startups and Mrs. Nasreen Jiffry for social activist.
Mr. Azad for Neptune Tech startup in bio waste management.
Mr. Abdul Kader for supply of composite hajj items.
Mr. Mohammed Nowfil Rasiq of Ambit InfoTek for developing Security Systems
And others.

Dr. M.A. Maluk Mohamed, Director & Correspondent, MAMCET and Director & Trichy District Secretary, UEF: :

Dr. M.A. Maluk Mohamed made a PPT presentation and said that in three years, he will bring 10 industries into fold of his college for mutual development of industry and college. He also said that 3 students of his college have been selected for giving ideas for effluent treatment plants which includes Erode. He introduced Dr. Subburathina Barathi who is the director and professor of MAM Business School, Trichy.

Creative & Innovation by Dr. Subburathina Barathi, Director, MAM Business School:

He said that Erode is known for successful entrepreneurs. He gave potential quotes of Dr. APJ Abdul Kalam “what disturbs your sleep is dream” he also made few quotes of Maha Kavi Barathiyar.

He mentioned that invention is related to science & technology, innovation is related to product and creativity is related to ideas and concepts.

On creativity he said as follows:
Dr. T.A. Edisson founded Electricity and the same was termed as DC current and this was a Historical discovery for mankind. This invention was made by Mr. Edisson who is an American and he is considered as the businessman.

During the same of Era of Edisson, Mr. Tesla discovered AC current. Mr. Tesla’s discovery of AC Current was not fully recognized during his time. However in 18th century, Europeans appreciated Tesla’s discovery and based on his discovery started wireless innovations which is in the wireless fidelity, mobile towers, etc.

He mentioned about Bloom Energy and Bloom Box an innovation by an Indian Mr. K.R. Sridhar, which is utilized by leading American firms such as Google, Walmart, Adobe, Ebay, etc.

He said that mega Industrial projects in India have come up with investments from Japanese, Korean and other Advanced Countries and there is vast scope for development of MSMEs in India. He stressed the budding Entrepreneurs to focus on MSMEs.

MOU with MAMCET & UEF for sponsoring 20 engineering seats:

UEF Director Mr. A. Althaf Husain informed the audience that one of our UEF Director & Zonal Secretary Dr. M.A. Maluk Mohamed Director and Correspondent of MAM College of Engineering and Technology, Trichy has generously offered to sponsor 20 meritorious & economically weaker candidates for engineering courses in his reputed institute. He also emphasized that Dr. M.A. Maluk Mohamed will be offering 20 engineering seats every year. The candidates will be selected by UEF and recommended for sponsorship. He also appreciated the greatness and philanthropic nature of Dr. Maluk Mohamed and blessed him on behalf of UEF and Community.

The MOU was then signed between MAMCET and UEF represented by Dr. Maluk Mohamed and Mr. W.S. Habib respectively.

Mr. T. Adnan Ahmed, Director & Zonal Secretary, Chennai, UEF:

He said that leather sector is vast and challenging industry. He made a video presentation and the highlights are as follows:
• India is the second largest footwear producer.
• India is the second largest leather Garment producer.
• 13% of global leather products manufactured in India.
• 18 US$ billion industry by 2020.
• Exports to reach 9 US$ billion by 2020.
• 100% FDI allowed to this sector.
• Import of raw leather and leather machinery are duty free.

He said as follows:
• If anybody willing to put up a tannery or shoe factory there are firms who do all assignments on reasonable charges.
• Leather industry has challenges:
o Pollution and Environment
o Lesser orders
• Statistics on leather
o Once 75% production of leather products was from South India, now reduced to 30% - 35%.
• Some firms are exceptionally doing well in leather sector.
• Environment Factor: Each industry has to be environment friendly
• Delivery of products: Fast delivery of products is vital in leather industries.
• Adidas: It has its factory in Germany. The buyer from anywhere can select the shoe online, Adidas will make it door delivery in two weeks time.
• Leather industry is facing huge challenges.
• Huge challenges give more opportunities for growth.
• Small investors in Ambur have started manufacturing and marketing of customised leather shoes and supply online.
• Large leather companies are adopting improved marketing technology.

He made a video presentation of F1 car racing, during 1950 in Indianapolis where the tyre replacement was time consuming nearly 20 minutes whereas in F1 car racing during 2013 in Melbourne, the change of tyre is made in seconds with advanced technology. The video was impressive on use of technology.

He concluded by stating that there are immense opportunities is leather sector.

Mr. Sajid Sathak, Co-Founder and Director, Inno Advisory India Pvt Ltd., and Director, UEF:

Mr. Sajid Sathak said that an entrepreneur is a person who assumes the organization, management and takes risks involved in a business venture. He should evolve: A good idea / Business Plan / Personal skills / seek support / have good personal credit history & Start-up money.

Highlights of his presentation are as follows:
Everyone who is going into business and who is operating a business requires a business plan.
• Financing Your Business - Seed Capital (Zero to 10 lakhs)
• Financing Your Business – Start-up Money (10 to 50 lakhs)
• Financing Your Business – Debt Funding (upto 1 cr without collateral)

Type of loans:
• Term Loan: Long-term financing option for fixed assets such as equipment, land or building.
• Line of Credit: Short term, flexible financing that you manage yourself.

Financing Your Business – Scaling Up (50 lakhs to 5 cr)
Angel Investors offer valuable mentoring and guidance since they themselves are usually successful entrepreneurs.

Financing Your Business – Venture Capital (5cr to 25cr)
Venture Capitalists are individual investors or investment firms that invest capital professionally

Financing Your Business – Private Equity
Private Equity is a source of investment capital from high net worth individuals and institutions for the purpose of investing and acquiring majority to full ownership in companies.

Financing Your Business – IPO
An initial public offering (IPO) refers to the first time a company publicly sells its shares to the public

Mr. W. S. Habib, Director General, UEF:

Mr. W. S. Habib said that he belongs to first generation in Reality Industry. He along with Ramky group developed RWD a leading brand in Chennai in Flat promotion. He said that his original business was gems where he found no challenges and therefore took up to Reality Industry. He also said that he has less capital and more hard work of about 15 hours per day. He mentioned that RWD has constructed and sold Apartments, Villas and Farmhouses. He said that for last year the business was less and now it is picking up. He also said that there is big demand for affordable houses. He further said 20 lakh houses are required in 4041 classified towns with each house costing about Rs. 15 lakhs with Rs. 2.30 lakhs Govt. subsidy and 4% interest. He mentioned that 60 to 70 houses can be put up in half acre area. He said that he has plans to develop flats in Erode. He said that if anybody has lands and proper business plans, can approach him for Joint Ventures. He also said that he has plans to develop flats in Erode.

Mr. Syed Nazzar, MD, Manna Foods:

Mr. Syed Nazzar said that he was promoted from marketing executive to group GM for a private pharmaceuticals and shifted to rubber firm. Later he started his own business Mannah Foods and same become success. His brief speech is as follows:

• Best way to give to society is to share your experience.
• We have to search for best opportunities.
• Among 100 people your face should have separate identity with brightness.
• From small person in Ramnad Dr. APJ Abdul Kalam become a President.
• Each person is born with unique qualities.
• God gives opportunities to ordinary persons to become extraordinary.
• We have to do it differently in a best manner.
• The priority for today’s youngsters should be development.

Film Director Ameer Abbas and Director Thamira:

They spoke about their experiences in film industry and they emphasized on the need to project our community in a positive manner in film industry.

Mr. T. Kulasekaran, AGM, SIDBI:

Mr. T. Kulasekaran said that SIDBI was started by GOI in 1990 exclusively for MSME development with SIDBI Head Office at Lucknow and its branches are situated in places where Industrial clusters are situated such as CBE, Tiruppur and Erode etc. He further said that Schedule Banks give both term loans and working capital whereas SIDBI gives only soft term loan . He spoke about the preamble of SIDBI as Promotion, development and financing of MSMEs. He mentioned that SIDBI’s web site “sidbi.in” helps in the preparation of Project report and guides on availing GOI subsidiaries, trainings and benefits. He said that GOI has started “Muthra Loans” under which a small loan amount of Rs. 50,000 is given under Sishu loan scheme, upto Rs. 5,00,000/- under Kishor and a bigger loan amount up to Rs. 10,00,000/- under Tarun depending on the need of the project. He advised the budding Entrepreneurs to approach nearby bank and avail Muthra Loan under which collateral is need insisted. He spoke about “Standupindia” web site designed to help Entrepreneurs open an account and apply for loan through online indicating the name of nearby bank who will invite him. He said that GOI has allocated Rs. 10,000/- crores for Startup Fund. He also said that under Make in India scheme of GOI, SIDBI gives soft loan at 10 %. He further said that those who are already in business can also avail SIDBI schemes to develop their business. .

Mr. Syed Sadiq Ali, Tirupur District Secretary, UEF and MD, Essa Garments:

Mr. Syed Sadiq Ali spoke on Islamic principles and shariah and stressed on step by step development and come up with hard work.

Interaction Session: Moderator: KKSK Rafiq:

Panel: Mr. KKSK Rafiq, Mr. Kulasekaran, Mr. Ameer Abbas, Mr. Thamira, Mr. Syed Sadiq Ali, Mr. Sajid Sathak, Dr. Subburathina Bharathi, and Mr. A. Althaf Husain:

Q: Needs finance for Electronic Sourcing Startup:
Reply by AGM, SIDBI: Take guidance Startup India.Com and select three banks who will call you and help. SIPCOT is also giving handholding.

Q: Can we start business abroad:
Reply by Mr. Bharathi: USA gives approval in two days. But he advised to start business in India

Q: How to avail Incubation facilities:
Reply by AGM, SIDBI: Technology Incubation Centre gives subsidy and they have panel of Consultancy firms. Elcot gives lot of support for electronic based startups. Loans are available under Muthra Loan Scheme.

The session came to conclusion with Mr. KKSK Rafiq advising the participants to first learn trade by experience, update skill development and then venture into business / projects / startup.

The event was anchored by Mr. Ismail, EEA Secretary

Vote of thanks by Mr. Jaffer Sadiq, Treasurer, EEA:
He extended his thanks to Industrialists, UEF Directors UEF District Secretaries, speakers and the participants for making the event a grant success.

Key takeaways:
1. About 350 people from Erode, CBE, Tiruppur, Salem, Ooty and Chennai attended the event.
2. Most of the participants were youngsters eager to become entrepreneurs.
3. The motivational speeches of Industrialists Mr. Chinnasamy and Mr. Robin had great impact on the audience as they spoke about the challenges they faced and how they overcome the problems successfully.
4. The speeches of UEF Directors Mr. WS Habib, Mr. Sajid Sathak, Mr. T. Adnan Ahmed and Mr. A. Altaf Husain were also impressive and motivating.
5. The active participation of UEF District Secretaries was encouraging.
6. Mr. KKSK Rafiq active role was impressive.
7. Mr. Nasser’s successful story was aptly listened by participants.
8. Signing of MOU between MAMCET & UEF for sponsorship to 20 engineering seats in MAMCET is a milestone in education development of the community.
9. The Hall and stage arrangements were good with the active participation from Erode Educational Academy.
10. Award ceremony and interactive session were impressive.
11. UEF Director and CBE Zonal Secretary Dr. Abul Hasan took an active role to make the event a grant success in spite of his busy schedule.

UEF Iftar Meet 2017

The event commenced with Dua.

Director General Mr. W.S. Habib welcomed the participants and informed that UEF TS 2017 can be conducted this year during Nov / Dec 2017. He also informed that the venue for the same is likely to be at Chennai Trade Centre or Hotel ITC. He further said that Curtain Raiser for UEF TS 2017 will be conducted on 25th July 2017 in Chennai and UEF will also launch UEF Young Leaders Network in the same event.

UEF President Mr. Ahmed A.R. Buhari warmly welcomed the participants and spoke about the UEF TS 2015 conducted in a grand manner. He mentioned about the upcoming UEF TS 2017 and informed that the focus would be on Islamic finance in the upcoming summit.

UEF President spoke about the formation of Young Leaders Network for the age group from 18 years to 35 years and requested the youngsters to join the same to become themselves successful entrepreneurs / industrialists. He also emphasized on formation of Women’s wing by first uniting our ladies who are associated with business / trade / industries.

UEF President mentioned about the offer of 20 free seats to deserving students by Dr. Maluk Mohamed, Director & Correspondent of MAM College of Engineering and Technology, Trichy. He also mentioned about 7 free seats allotted by Janab Yousuf Sahib, Chairman, Mohamed Sathak Group to the students of our Sakkarakottai Boys Home in their Polytechnic College. He emphasized on close networking with all educational institutions of our community for educational development.

UEF President expressed his thanks to Mr. AK Tareen for the visit of Dr. Sabit Subasic, Bosnian Ambassador to UEF and said that Bosnia is a beautiful Country. Mr. A.K Tareen and DG W.S. Habib represented UEF in Bosnia on 8th Sarjevo Business Forum held on 22nd – 23rd May 2017.

UEF President mentioned about the MOU UEF had with Turkish Indian Chamber of Commerce and expressed his thanks to Mr. Sevket Cikmaz, Regional Director for bringing Kyrgyzstan Business delegation to UEF on 31.03.2017 He recalled the various events conducted on entrepreneur development in Erode, Adhiramapattinam, and again in Erode. He said that the entrepreneurship development event conducted in Erode on 23rd April 2017 was a memorable event with 300 participants and industrial iconic figures addressed the gathering. He mentioned about the objectives of UEF with emphasis on networking facilities to members. He said that most of the people are asking what we can get from UEF and he emphasized on what entrepreneurs can contribute to the society. He mentioned about Essa Garments, Tirupur as eye-opener as they are leading manufacturers of garments / hosiery products and are also in community service. He stressed on learning from each other. He also emphasized on finding ways to reach an understanding with Islamic banks such as Islamic Development Bank (IDB) Jeddah, other Islamic banks, Khazana (KL) etc. He said that UEF needs high profile industrialists who could be potential recipients of investments from Islamic banks. He spoke on value additions of 1000 high profile members to contribute to the GDP from the community.

UEF President spoke about WIEF and said that the agenda and vision of WIEF is on the same lines of UEF. He mentioned that WIEF is organizing annual international conference & Expo which is attended by 3000 delegates from various countries with Ministers, Prime Ministers and Ambassadors of various Islamic countries participating. UEF’s strong delegation had attended WIEF International conferences at Johor Baharu, Dubai, KL, Jakarta. This year their conference is from 21st to 23rd November 2017 at City of Kuching in Malaysia. He appreciated UEF officials for having obtained 75% discount in delegate fee from WIEF and consequently the delegate fee is US$200 as against their normal delegate fee of US$800. He said that obtaining such discounts and facilitating networking and business enhancement are key takeaways of UEF.

Mr. A.J. Suhail said that now more and more members are coming to UEF and welcomed the initiatives taken on the formation of Youth and Women wings. He mentioned about inviting good number of speakers for TS and stressed on networking by UEF.

Mr. Mecca Irshad Ahmed said that most important is getting right numbers to reach the target. He agreed that 1000 high profile members is the right number for UEF.

The event was attended by 120 persons. Prominent persons who attended the event are: Board of Directors / Advisory Committee members / Industrialists & Professionals / Retired Govt. Officials / Prominent Youth. The meeting concluded with Dua by Mr. S.S.M. Sadaqathullah followed by Iftar.