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.
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.
"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".
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.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
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.
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.
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.
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.
Households are likely to remain the primary net lenders to the economy in the coming decades.
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.
Manufacturers said they expect the growth of manufacturing sector to be less than 7 per cent.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
'I get enormous pleasure from seeing the uplift of an underprivileged or poor person.' 'I feel elated when I walk on the street and see someone who pushes a handcart talking on a cell phone.' A revealing glimpse from Peter Casey's The Story of Tata: 1968 to 2021.
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.
'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.'
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.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
