Being president of Calcutta Chamber of Commerce in its 176th year had been a highly rewarding and challenging experience. I did my utmost to steer the course of the Chamber in the right direction.

We at Calcutta Chamber of Commerce, as in the past, organized many important events. The activities of the Chamber increased in number and improved in content and were being widely commended. The Chamber had some very special programmes on an array of subjects ranging from sustainable growth, fiscal issues, small businesses, renewal energy, North Eastern Regions, bilateral trade etc. which reflected the key concerns of our members. The Chamber oraganised business meetings with delegation from North-Rhine West Phalia, Germany & Zambia, in which the delegates were overwhelmed by the response and were hopeful of enhancing trade with India.

On the eve of the 11th Plan, our economy is in a much stronger position. The average growth rate has accelerated significantly in recent years, over 8%. This performance reflects the strength of our economy and the dynamism of the private sector. It is encouraging to note that investments are picking up, exports are vibrant and business confidence is at a record high. India is becoming an increasingly attractive investment destination. While Indians have been making acquisitions abroad, multinationals have been on a buying spree in India. No wonder India has emerged as the second best FDI destination after china, ahead of USA and Europe.

But, to achieve the plan’s objective of faster and more inclusive growth, Indian industry has a crucial role to play. Here is the prescription of our Hon’ble Prime Minister, Dr. Manmohan Singh: “In a modern, democratic society, business must realize its wider social responsibility. The time has come for the better off sections of our society – not just in organized industry but in all walks of life – to understand the need to make our growth process more inclusive; to eschew conspicuous consumption; to save more and waste less; to care for those who are less privileged and less well off; to be role models of probity, moderation and charity”.

Before I conclude, I take this opportunity to thank Sr. Vice President, Vice President, Chairmen, Standing Committees, my colleagues in the Committee and all members of the Chamber for providing constant guidance and assistance to co-ordinate the activities of the Chamber during my tenure as President. I must say that members’ comments and suggestions have served as invaluable inputs and have contributed, in no small measure, towards the success of the Chamber. I extend my sincere thanks to the entire Calcutta Chamber of Commerce, Secretariat for extending their fullest co-operation in making the Chamber’s events throughout the year, a grand success. Finally, I wish to put on record my sincere thanks to the media for their sincere co-operation during my tenure as its President.

I wish you all and your families a Happy and Prosperous New Year!