In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
'India's future: To manufacture so efficiently that we do not need protection,' says Naushad Forbes.
Realising the importance of sustainable development, Indian companies are increasingly taking into account the environmental impact of businesses while taking decisions, industry body Confederation of Indian Industry said on Wednesday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The industry urged the central bank to consider a rate even before the next monetary policy review on July 30.
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
Swiss entities keen to invest in India, says envoy .
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
It took a lockdown for us in India to even recognise that the plight of migrants needs to be addressed. They were faceless and unrecognised. They were unappreciated and even hounded. They were poorly paid and exploited, notes Ramesh Menon.
The final Budget for the fiscal is likely to be tabled in July after formation of the new government.
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
The study, 'CII-Interlink paper on growth agenda of pharmaceutical industry in India' has been conducted by Interlink, a business and management consulting firm. Middle class population, health insurance facilities, unpenetrated markets, marketing efficiencies, generics and brand development are the six key drivers which would push the growth in the domestic pharmaceutical segment.
Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
Responding to charges of cartelisation against the industry, newly-elected CII president K V Kamath on Thursday said corporates must ask themselves whether their actions in a demand-driven market was causing distress to others.
France has now over-taken the UK as India's most visited European nation
Leader of the opposition (Lok Sabha), L K Advani addressed the annual conference of the Confederation of Indian Industries (CII) on April 30, 2008, in New Delhi. He opened his speech highlighting the significance of the confederation. He said that over the years the annual session of the CII has become an important platform for people from the political and business fields to meet together and exchange ideas on issues of common interest concerning the nation.
The CII perception of Indian economy is strong as incremental capital-output ratio at 4-fares is better than China and Brazil, the ICICI chief said.
The government was hoping to roll out the GST regime from April 2016.
The prime minister is likely to talk about its possible extension.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
Publishing BPO industry is booming in India with a growth rate of 35% per year.
A majority of CEOs from top Indian companies including ICICI Bank, Bajaj Auto, TVS Motor GE India, and HUL, do not foresee any production slowdown in this fiscal, even as rising input and interest costs are affecting the net profit margins, a CII survey has found.
It is our only chance of avoiding a repeat of our catastrophic second wave, asserts Naushad Forbes.
India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
As a nationwide strike of trade unions hit banking and other services on Wednesday, business chambers pegged the loss to the economy at a staggering Rs 25,000 crore and said such "disruptive" actions can hit India's image as an attractive business destination.
So vaccinate employees and families, staff at home, rickshaw drivers, milkmen, service providers, shopkeepers and street vendors, says Naushad Forbes.
Idea is to bring stakeholders together and explore ways to increase export of services from India.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
At present, India's share in the global trade is about one per cent. Majority of the respondents said the FTP review is growth-oriented and would help in sustaining the 8.5 per cent growth rate of the country, besides, giving the much-needed boost to the rupee-hit exports. Over 73 per cent of the respondents said the target of India achieving 5 per cent share in world trade by 2020 is ambitious but achievable. Government has set an export target of $ 200 bn for the 2008-09.
The delegation of Indian CEOs from Confederation of Indian Industry highlighted the growing sense of optimism in India following the recent election results.
According to Nielsen, rural growth has plunged to a low 5 per cent in the third quarter of quarter from a high 20 per cent a year ago. This has for the first time in seven years rural growth has fallen below urban levels.
The seventh edition of CONNECT 2007, a premier information, communication and technology event promoted jointly by CII and Tamil Nadu government, will be held in Chennai from September 14 to 17.
In a communication to chief secretaries and director generals of police of all states, the ministry asked them to take action to allay apprehensions and maintain peace and tranquillity, and inform people about the availability of food, medicine and other essential commodities.
Efforts to normalise trading relations expected during the first such meet on Saturday
India has emerged as one of the 10 fastest growing sources of foreign direct investment into the US.
Early GST rollout to help create more jobs, boost output, says IMF.
