The provisions of the bill related to the conditions on issuing H-1B visas is being opposed by Indian companies, who heavily rely in this category of work visas.
Reflecting strong growth sentiment among industry verticals, a CII business outlook survey has found that 74 per cent of the respondents expect the economy to grow by 8 per cent or more in 2010-11.
During the two-day visit, the delegation headed by CII President Sunil Bharti Mittal is scheduled to meet key people such as UK Secretary of State for Health and Environment and interact with industry captains.
It called the draft text 'totally unacceptable, insensitive and unbelievable'.
Elaborating on the recommendations, CII Vice-President Hari Bhartia said the forthcoming budget should focus on an investment-led growth by introducing broad-based reforms in the banking, finance and retail sectors. The Union Budget is expected to be presented in July, 2009.
The CII on Monday recommended raising personal income tax exemption limit by Rs 50,000, removal of Fringe Benefit Tax and surcharge on corporate tax along with measures to promote investment in the full budget to be presented by the new government in July.
Confederation of India Industry on Saturday welcomed the signing of Preferential Trade Agreement between India and Afghanistan and said this would facilitate easy flow of goods between the two countries.
Markets regulator Securities and Exchange Board of India (Sebi) is stepping up efforts to ease the onboarding of foreign portfolio investors (FPIs) and has constituted a cell for consultations with offshore investors and custodians, said whole-time member Ananth Narayan. Sebi is also working to make regulations more "light-touch" for FPIs that invest exclusively in government securities or are sovereign funds. The regulator is trying to make the registration process easier for such FPIs, the Sebi official said at the CII Financing 3.0 Summit in Mumbai.
The Confederation of Indian Industries, on Friday, was all praise for the Atal Bihari Vajpayee-led coalition governments in terms of being development-oriented and helpful to the industry.
"If the government is going to borrow from the market to fill the fiscal deficit, then they are going to suck up all the money available in the banks and we will be crowded out," the new CII president Venu Srinivasan told reporters in New Delhi. Pitching for monetisation of the budget deficit, he said, "It means printing notes. Which means you have the risk of increasing inflation but at the same time you will keep the economy afloat".
Days before the national biofuel policy is taken up by the Union Cabinet, the Confederation of Indian Industries has demanded incorporation of enough "flexibility in the biofuel blending mandate" based on the availability of such fuels.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
The Confederation of Indian Industry has entered into an agreement with the Chinese city of Sheynag to promote long-term cooperation in the area of information technology.
The Confederation of Indian Industry has said a minimum of 7 per cent of GDP, which translates to about Rs 200,000 crore (Rs 2000 billion) a year of investment, has to go into gross capital formation in infrastructure for sustainable growth.
Industry body CII has asked the governments of Delhi and Rajasthan to reconsider their decisions to scrap the FDI policy for multi-brand retail as such investments would help create millions of jobs and benefit consumers.
It plans to push the growth further to 8.5 - 9 per cent.
India's leading industry chambers, the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci), said the US government should remove export restrictions on dual-use technologies.
The Central Electricity Authority and industry body CII will present a white paper on power sector reforms to the government by the end of this month, a senior government official said.
The department of science and technology, Confederation of Indian Industry and Intel on Wednesday signed a statement of intent with a view to promote culture of inventions and innovations among students and youth of the country.
In a bid to promote Indian film industry in the international arena, CII would launch a delegation of film directors, producers and financers of the industry to the American Film Market in California.
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.
Manufacturers said they expect the growth of manufacturing sector to be less than 7 per cent.
India and Russia need stronger trade and economic ties, CII President Hari S Bhartia has said.
Signing a memorandum of understanding in this regard with Confederation of Indian Industry's deputy director general Indrani Kar, World Bank President Robert Zoellick said the India Wildlife Business Council would lead the efforts to save tiger from becoming extinct.
Confederation of Indian Industry has asked Prime Minister Manmohan Singh to fast track economic reforms, which in turn would boost investments and accelerate growth, chamber's new president Adi Godrej said on Thursday.
Taking into account the buoyant performance of the Indian economy in the first half of the current financial year, the Confederation of Indian Industry (CII) has revised its GDP growth estimate for the year from around 8 per cent to 8.6 per cent.
