The Confederation of Indian Industry (CII) has urged the Indian government to gradually restore the Rs 10-per-litre cut in special additional excise duty on petrol and diesel over six to nine months. This move aims to relieve pressure on government finances as crude oil prices stabilise, without significantly impacting consumer sentiment.
CII opines that a global discussion on the crisis might help building stronger information netwrorks on consumption and production so that corrective measures can be taken across the globe to avert such a crisis. It also advised to develop global food management system under Food and Agricultural Organisation.
Olympic Gold Quest, an initiative to support talented Indian sportspersons in their quest for Olympic medals, signed a Memorandum of Understanding with the Confederation of Indian Industry, on Friday, to promote sports at the grassroots level through the involvement of corporates.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Business confidence in India Inc rose to a five-quarter high in December quarter of FY26, amid further reform expectations and steady domestic demand, a survey by industry body Confederation of Indian Industry (CII) showed. The CII Business Confidence Index (BCI) rose for the third consecutive quarter to 66.5 in the December quarter from 66 in the preceding September quarter.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
'This has become a necessity now to kick start the investment cycle'
Expressing dissatisfaction over the RBI decision to keep interest rates unchanged, India Inc today said rate cuts were needed to make the industry invest more and drive economic growth.
Cash reserve ratio is the amount of funds banks need to park with the apex bank in cash.
The summit would be held from November 4-6.
India's economy is likely to grow in the range of 4.5 to 5 per cent during the second half of the current fiscal, a CII survey said.
The Confederation of Indian Industry (CII) on Thursday said it believes that India-US bilateral economic ties would be a high priority for President Joe Biden-led administration in America. "The Indian industry feels that with President Biden and Prime Minister (Narendra) Modi at the helm, the two countries would play a strong role in re-shaping the global economic agenda together," CII president Uday Kotak said. Congratulating Biden on assuming charge as the 46th President of the US, Kotak said, "President Biden's experience in re-building the US economy during the Great Recession would help strengthen the US and global economic recovery in the aftermath of the pandemic."
Swiss entities keen to invest in India, says envoy .
Chandrajit Banerjee, director general, CII said: "This move will bestow the benefits of information technology to the common man and will also help establish citizenship, thus enhancing security at various levels. This would further bring transparency in different delivery channels, help in mapping diverse requirements of the nation and, in turn, assure better planning and strategisation for the country."
Tata Sons will likely choose Singapore as a "key partner" for its semiconductor plans, a senior minister from the city-state said on Friday. Speaking to reporters after a meeting with Tata Sons chairman N Chandrasekaran earlier in the day, Singapore's minister for home affairs and law K Shanmugam said semiconductors was a "big discussion" point during the meeting. "If they (Tatas) want to, they can do business with anybody in the world.
The Pradhan Mantri Jan Dhan Yojana scheme will help eradicate poverty and curb corruption at the grassroot level, industry said.
Recovery from the second wave of the pandemic in April-May is expected to be swifter as compared to the first wave in 2020, according to the Confederation of Indian Industries (CII) chief executive officers (CEOs) poll of 119 top corporate. During the second wave, the lockdowns were largely designed to limit social gatherings and impact on economic activities was restricted. This helped arrest the impact of the second wave on economic growth, according to a survey conducted by the industry lobby group Confederation of Indian Industries (CII). About 59 per cent of the CEOs polled expect the recovery in sales to be better than in the first wave for their companies, while 46 per cent of them expressed a similar trend for their respective industry sectors.
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India Inc raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure
Encouraged by softening inflation, the RBI on Thursday decided to cut the benchmark interest rate by 0.25 per cent to 7.75 per cent with a view to boost growth.
The Confederation of Indian Industry has pegged the requirement for investment at Rs 280 lakh crore ($4.7 trillion) for five years beginning 2014-15 to make the economy grow by seven per cent a year on an average.
India Inc on Friday said the hike in railway passenger and freight fares will help in resource mobilisation, hoping that the higher fares will lead to better quality and safety of services offered by the Indian Railways, while asking the government to allow FDI in Railways.
'We have to retain some fiscal headroom without compromising on the promised fiscal consolidation roadmap.'
As unemployment has gone up, countries have tightened their visas. We need to make sure there is no long-term impact, said CII.
The government's move to set up a regulator for the coal sector would help bring in transparency, encourage exploration and enhance quality of the dry fuel, India Inc said on Friday.
The industry urged the central bank to consider a rate even before the next monetary policy review on July 30.
The large current account deficit and the growing vulnerability on the external front have largely contributed towards the secular decline and the current volatility of the rupee.
France has now over-taken the UK as India's most visited European nation
Cheering the rebound in India's economy which grew 5.7 per cent in the April-June quarter, highest in the past two-and-a-half years, India Inc on Friday said it expects the GDP to pick up further on the back of conducive investment policies and execution of reforms by government.
Welcoming the launch of the Bharatiya Mahila Bank, India Inc on Wednesday said the initiative will propel women's financial inclusion, encourage female entrepreneurs and empower women in the country.
The RBI had lowered policy rates by 0.50 per cent between January-March to prop up economic growth.
India has emerged as one of the top three choices for investments in the next 2-3 years, with more than two-thirds of respondents in a survey of multinational companies (MNCs) citing the country as their number one choice for future investments. According to the FDI survey released on Tuesday by CII in association with EY, about half of the respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.
The govt's willingness for change and 'feel good' factor has boosted sentiments.
The Reserve Bank had kept policy rate unchanged in its review on April 7.
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CII hopes that the RBI would not wait for the next quarterly review but intervene sooner if the economic condition warrants a mid-course correction.
Terming the rise in October retail inflation despite a bumper crop as "disturbing", India Inc said the government must immediately address supply side bottlenecks to bring down the consumer price inflation.
India Inc on Wednesday said it looked forward to the new RBI Governor Raghuram Rajan initiating cut in interest rates and improving credit flow to crucial sectors like infrastructure to put economy back on high-growth path.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
A majority of respondents expect the number of jobs generated to increase in 5 years.
The Confederation of Indian Industry (CII) has called for speedy implementation of key railway projects, such as the Dedicated Freight Corridor, high-speed rail corridors, rolling stock and other capacity enhancement works.
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