Hyderabad: A roadmap for the development of entrepreneurial skills and competencies among Muslims to overcome emerging business challenges was given shape at the International Business Summit 2022 on Saturday. The second day of the summit organised by the Muslim Chamber of Commerce and Industry (MCCI) saw key business issues being discussed by industrialists, intellectuals and experts in consulting and allied services.
In a first of its initiative, the MCCI brought on a common platform diverse Muslim groups to discuss the crises looming ahead and provide solutions. Brainstorming listening and learning were the keywords. Delegates from 16 countries and 18 States in the country shared their ideas. On Sunday, the last day of the programme, important business deals worth crores of rupee are expected to be signed.
Telangana State Minority Welfare Minister, Koppula Eshwar, who inaugurated the summit, urged the participants to invest in his State as it provided the best possible opportunities for growth. Within a short period of 8 years, the state had become the favourite destination for foreign investors thanks to the initiatives taken by the Chief Minister, K. Chandrasekhar Rao. Schemes like TS-iPASS to provide fast clearances had opened up a world of opportunities. The government also facilitated providing land and necessary licenses to set up industries. The most attractive thing was the peaceful atmosphere prevailing in the state, a key factor for investors.
Eshwar listed the various steps taken up by the TRS government for the empowerment of minorities. “The chief minister believed that the state will progress only when all communities progressed,” the Minister remarked and said Telangana was at the forefront in the IT and industrial sectors, forcing other states to emulate it.
Referring to the Indo-Turkish business opportunities, Orhan Yalman Okan, Counsel General of Turkey, said the volume of trade between the two countries had touched $10 billion. It was proposed to further enhance the trade relations to reach the target of $15 billion. About 50 Turkish companies were operating in India in the construction, IT, aerospace, electronics, food processing, textile, automobiles, logistics and green technology sectors.
Okhan said the Turkiye-India Business Council was planning a business trip to Hyderabad and Mumbai in October. They would provide business and investment opportunities. Turkish Airlines had proposed to start direct passenger flights to Hyderabad shortly. “I am closely working with the Telangana government in this regard,” Okhan said.
Hyderabad, he said, had a special place in the hearts of Turkish people and the relations dated back to the Nizam’s time. His government was working hard to further strengthen tourism and cultural ties. A Turkish movie festival was also proposed in Hyderabad, he said.
Dr. Ramkumar Rudrabhatla, Chairman, Indo-American Chamber of Commerce, asked the MCCI to concentrate on youth and women and optimise the use of technology. “The new currency of the world is not finance but technology,” he said.
Yasmeen Shah, a successful Australian entrepreneur, said time management and dedication were of utmost importance in the success of a business. Unfortunately, the Muslim community lacked these two key factors. Another glaring defect in the community was that most of its members wanted to do everything by themselves instead of partnering with others.
Ather Ahmad, General Secretary, MCCI, spoke about the emerging opportunities in the construction industry. Telangana, particularly its capital, Hyderabad, was witnessing robust growth despite the Covid pandemic. The City’s residential and office asset categories had shown resilience in their performance. Factors such as affordability, connectivity, accessibility and government-friendly real estate policies like the introduction of the Dharani portal and the Real Estate Regulatory Authority (RERA) had ensured that there was no price decline despite the recent economic slump and inflation. “Today Hyderabad has emerged as a progressive and high-value city globally,” he said.
Nazimuddin Farooqui, chairman, MCCI, spoke about the objectives of the summit and said business management had become a science now. Created in 2014, the MCCI provided both legal and financial guidance to those who wanted to set up businesses and start-ups.
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