India imports a staggering 1,000 tonnes of gold every year, draining out foreign exchange and putting pressure on the fiscal deficit.
The Federation of Indian Chambers of Commerce and Industry is not worried over the recent statements made by the Left parties advocating radical changes in the economic policy and has recommended a 10-point agenda for the new government.
The Federation of Indian Chambers of Commerce and Industry is 'very hopeful' that the seven SAARC nations would be able to clear all roadblocks on the way to signing of Saarc Free Trade Agreement (SAFTA) at the Islamabad summit.
A survey by industry body Ficci has lowered the country's economic growth forecast for 2013-14 fiscal to 5 per cent, from 6 per cent projected in July, indicating tough times ahead.
The apex biz chamber said that there is an urgent need to make contract farming legal.
Securitisation Act tilted against borrowers: FICCI
The reservation of jobs in the private sector will tantamount to putting the clock back on economic reforms and not even political parties are ready for a legislation making employment of SCs and STs binding on India Inc, industry body Ficci said.
Bharti Airtel boss Sunil Mittal already heads the Confederation of Indian Industry (CII). Former BPL Mobile boss Rajeev Chandrasekhar is slated to take over as Federation of Indian Chambers of Commerce and Industry (Ficci) president.
Markets regulator Securities and Exchange Board of India (Sebi's) measures to curb speculative activity in the Rs 450-trillion-a-day futures and options (F&O) market is not a case of "throwing the baby out with the bathwater," whole-time member (WTM) Ananth Narayan said on Friday. "As a regulator, we are conscious that we must not throw the baby out with the bathwater. "When it comes to frenzied trading in options nearing expiry, however, it is difficult to see any baby in this bathwater," he said while delivering his address at the 21st FICCI Annual Capital Markets Conference.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The ministry of information and broadcasting is working on a proposal to set up a mega movie production studio -- akin to those in Hollywood -- with an investment of Rs 10,000 crore (Rs 100 billion), which will be supported by the government.
The Federation of Indian Chambers of Commerce and Industry has partnered with the World Intellectual Property Organisation to launch an anti-piracy and counterfeit campaign next month.
According to a majority of respondents in a survey conducted by FICCI, the BSE barometer's new achievement is likely despite the overall business confidence dipping to a five-year low and GDP growth slowing down to 8.9 per cent.
Yogendra Kumar Modi was on Friday elected as the next president of the Federation of Indian Chambers of Commerce and Industry. He will succeed A C Muthiah.
Although engulfed with challenges, equity capitalisation in India has grown over six fold.
A delegation from Ficci explained the project to the businessmen at an India-South Africa Round Table in Johannesburg on Tuesday.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
While FICCI officials said that parting of ways with Price Waterhouse was not related to the Satyam episode, sources said all business chambers have become wary of associating with those getting infamy from the country's largest corporate fraud.
The Ficci Survey for the second quarter of 2008-09, which was carried out during November and December 2008, revealed 52 per cent of companies feel that the overall economic conditions would weaken further in the coming six months. Further nearly 90 per cent of the 412 companies surveyed in the report feel that the economic situation has deteriorated over the last six months.
Over the years many things changed. There are however three things that haven't changed -- the filmi influence on the event, its tepid content and its time management. If Frames has to move on to the next level then Ficci needs to work hard on these.
The Federation of Indian Chambers of Commerce and Industry on Saturday said that economic growth of 8-10%, as envisioned by the NDA, was quite possible, and it has worked out an action plan in this regard for the next five years.
The Indian economy will expand by 5.6 per cent during 2014-15 even as the Reserve Bank is not likely to cut interest rates this year, according to Ficci's latest Economic Outlook Survey.
It suggested reforms in the real estate sector.
Industry chamber Ficci has sought details from the government about the "actual progress" of the mega infrastructure projects cleared by Cabinet Committee on Investment.
'The whole narrative will change from TV is dying to TV-plus-digital is the future.'
The social media giant is planning to launch roadshows in these locations as part of its 'SMB Boost' programme.
Amid the raging debate over high CEO salaries, industry chamber Ficci's President Harsh Pati Singhania said if talent is to be attracted one has to pay for it and that in most cases they are "within limits".
The Ficci survey, which covered 276 units, also revealed that those expecting a fall in their production decreased to 16 per cent in the second quarter from 26 per cent in the first quarter.
Attributing the decline to various global and domestic factors, especially poor performance of the manufacturing sector, the chamber called for 'immediate policy intervention' to deal with the situation.
The event has seen participation of 111 business delegations from Italy, which is one of the biggest delegations so far.
