To improve credit off take by the industry, Assocham has suggested that banks and lending institutions should increase the credit-deposit ratio, which has slumped to around 54 per cent.
Currently, the KPO market size is estimated to be about $5.5 billion and the sector is growing by about 15-17 per cent, dominated by professionals belonging to fields such as management, medical and engineering, the chamber said.
Diesel should be sold at market-driven prices, which the Indian automobile industry is demanding for long, only for the luxury players.
The G-20 leaders at the ongoing summit in Mexico should refrain from coming out with 'one-size-fits-all' kind of a remedy for the global economy which is facing difficult times, Assocham President Rajkumar Dhoot said on Tuesday.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
One of India's leading industry bodies - the Associated Chambers of Commerce and Industry - on Friday urged the government to bring sugar, textiles and tobacco products under value added tax.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
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RBI is scheduled to unveil its credit policy on June 3.
IT jobs constituted nearly 24 per cent of over 1.47 lakh vacancies listed on job portals and in newspapers during the period, followed by financial services at 14.5 per cent and sales and business development at 13.5 per cent, it added.
Consequently, corporate India had shown downfall in terms of net profit margin in the fourth quarter of the financial year 2012-13.
Modi govt did decent job in its first year.
With inflation likely to rise further, the Reserve Bank may go in for an another hike in the key policy rates in its fourth quarterly Review, slated to be announced on January 25.
The middle income group has been impacted by inflation particularly in context of falling The rupee and its cascading effects on price rise of items like petroleum products and edible oil, according to a survey by apex chamber Assocham.
The scope of interest rate reduction is limited despite the government's announcements for heavy borrowings, it said that RBI should roll out reform measures for strengthening the debt market in its policy.
As per the survey, nearly 25 per cent kids aged 13 years on Facebook
As a result of demand due to upcoming festivals, inflation has taken several essentials like spices, edible oil and milk out of the common man's reach, Assocham Secretary General D S Rawat said.
The Reserve Bank will present the mid-quarter Monetary Policy Review on Tuesday.
In a representation to the ministry of finance, it has demanded that labour-intensive security agencies should no longer be enlisted under the category of service providers and brought under the category of auxiliary service providers so that they could avail of tax benefits.
"The economy is going through a very difficult patch and business confidence has plummeted. New investments have slowed down," Assocham President Rajkumar Dhoot said during his interaction with RBI Governor D Subbarao ahead of the central bank's monetary policy review scheduled on April 17.
Majority of the participants, about 89 per cent, said that soft skills like good communication ability, both oral and written, as well as team work are essential for success at workplace, the survey said. Of the total 427 students surveyed at graduate and post-graduate level, about 70 per cent consider oral and written communication as essential soft skills, while 30 per cent feel that team work is important, it said.
The developers are hoping for some policy actions in the upcoming budget to revive the sector, which they feel would be key for the speedy recovery.
Indian corporates' business confidence has seen a sharp erosion in June on account of deterioration in the macro-economic situation during the last six months, an industry chamber survey said on Thursday.
The study said overall three sectors IT, financial services and hospitality -- prospects of jobs creation have dipped by 38 per cent in October-December 2008 compared to the preceding quarter of the year. In the July-September period, employment creation registered a growth rate of 124 per cent, while it posted a growth of 238 per cent in April-June, it said.
The second-quarter GDP numbers are scheduled to be announced on Friday.
Assocham president R K Somany on Friday called for putting the domestic economy on the right track and enlist public participation in the reforms process for ensuring sustainable economic growth.
A rise in farm sector is estimated to raise demand for industrial goods and services, it added.
About 60 per cent of net sown area of the country is rain-fed. With every one per cent deficit in rains, the country's gross domestic produce falls by 0.35 per cent.
Cellulosic ethanol is a biofuel produced from wood, grasses or the non-edible parts of plants.
Concerned over sluggish growth and poor investment climate, Assocham President Rajkumar Dhoot met Planning Commission Deputy Chairman Montek Singh Ahluwalia on Thursday and demanded the controversial tax proposal GAAR be put in 'cold storage'.
The Indian economy is set to cross 7 per cent growth mark owing to robust industrial growth and continuous resurgence in the services sector, an industry survey said.
The first woman president of any apex industry body said with over 10 per cent increase in factory output in August Assocham will revise its earlier GDP estimate of 7 per cent for the current fiscal.
The delegation, led by Assocham US-India Business Council chairman M M Bhagat, would meet a cross-section of the US corporates during the visit. On a four-day visit from June 15 to June 18, the delegation would also explore business opportunities in specific areas like infrastructure and investments.
With the birth of the world's seven billionth baby, Nargis, in Lucknow on Monday, the chamber said more involvement from the private sector must be encouraged to solve India's population woes.
The Indian economy may grow at 7.2 per cent this fiscal on the back of improvement in consumer sentiment, policy reforms and projected growth in agriculture and industrial sector, a Assocham survey said.
The government in 2007-08 had announced tax holiday scheme of five years for two-star, three-star and four-star hotels, besides convention centres in NCR.
Corporates would up their security budgets by 35-40 per cent, the industry chamber said. The industry, which has been growing at 25 per cent over the past 5-7 years, would achieve a growth rate of 125 per cent by 2012, it added.
Industry body Assocham has asked the government to retain both excise duty and service tax at existing rate of 10 per cent in the Budget for 2012-13.
The chamber said that organised retail, which at present accounts for nearly 5 per cent of the overall retail market, is likely to touch $13 billion (around Rs 60,375 crore) by 2010 from $9.23 billion (around Rs 42,000 crore) currently.
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