Harsh provisions of the Securitisation Act are killing entrepreneurial activity and might hinder industrial growth, according to a survey conducted by the Federation of Indian Chambers of Commerce and Industry.
Nalco plans to export aluminium valued at over Rs 2,000 crore to China during the current fiscal, even as the industry is making efforts to boost domestic consumption, C Venkataramana, chairman and managing director, Nalco, said in Bangalore.
In a pre-budget meeting with revenue secretary P V Bhide, a Ficci delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth.
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
A 30-member Federation of Indian Chambers of Commerce and Industry business delegation will visit Baghdad to meet the newly appointed ministers and representatives of the UN bodies for renegotiating their contracts worth Rs 500 crore.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
The Centre mopped up Rs 2.46 lakh crore from indirect taxes in the last fiscal, as much as Rs 2,000 crore (Rs 20 billion) more than the revised target, despite stimulus packages.
Finance Minister Pranab Mukherjee has also said that the bill on DTC was likely to be tabled in the monsoon session of Parliament.
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
L K Advani, Bharatiya Janata Party stalwart and leader of the Opposition in Lok Sabha, addressed the 81st annual general meeting of the Federation of the Indian Chambers of Commerce and Industry (FICCI) on Thursday. In his speech, Advani makes a strong case for Swadeshi, creatively redefined, as a model of development to benefit Bharat, and not just India.
The apex bank in its monetary policy for 2010-11 hiked the repo and the reverse repo to 5.25 per cent and 3.75 per cent, respectively, and the CRR to 6 per cent.
60 per cent of the companies reported improved industry performance at present, compared to the last six months.
ABN Amro may hike interest rates by 25-40 basis points by middle of 2006 and 50-70 basis points by the end of the year.
According to a study by industry association Federation of Indian Chambers of Commerce and Industry and telecom consulting firm BDA, 3G revenues in the country will reach $15.8 billion, 46 per cent of the total wireless revenue, by 2013.
There can be no serious argument for not having an independent regulator in every sector. Regulators in a sector are akin to independent directors on the board of a company who ensure that the game is played by some rules.
Minimal tax at the lower level may be ten\n>per cent. But that should start at Rs 500,000 and there should be no tax between Rs 100,000-Rs 500,000.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
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The rate cut, the industry chambers argued, could have given a positive signal to the manufacturing sector, which is undergoing difficult times.
India's exporters are looking out for Euro-dominated trade opportunities due to strengthening of rupee and pressure on profit margins, according to a survey by the Federation of Indian Chamber of Commerce and Industry (FICCI).
The minister further said another industry chamber Federation of Indian Chambers of Commerce and Industry too had contradicted the Assocham study, which had said that in the next 10 days or so about 25 to 30 per cent employees are likely to lose jobs in seven sectors including aviation, information technology, steel, financial services, real estate, cement and construction.
Elaborating this, Swati Piramal, vice president, Assocham and director of drug major Nicholas Piramal said though big multinational pharmaceutical companies have adequate cash reserves to face the global crisis, small and medium scale research-driven pharmaceutical and biotech companies which are heavily dependent on external funds for survival, may find the going tough and this will open up acquisition opportunities for Indian companies.
The finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
The state received robust investment announcements worth Rs 2,43,489 crore in calendar 2007. In calendar 2008, investments fell 63 per cent, to Rs 90,095 crore (Rs 900.95 billion). The general slowdown in economic growth, however, may also have played a part in Bengal's declining rank, given that many of its major investments were in such sectors as steel, real estate and power, all of which are current casualties of slowing demand.
India and the United States are considering yet another initiative to boost bilateral economic relations. Both sides are now mulling a Private Sector Advisory Gr
Market regulator SEBI on Tuesday said it will be able to take action against the culprits in Satyam accounting fraud case in the next one year.
"We are ready with our money but it's so difficult to get a business visa to India,'' said Dr Abdul Rahman A Al Rabiah, managing director of Alrabiah, a consulting and engineering services company. Quoting instances, Rehman said, "Business leaders who have five-year multi-entry visa into the UK and Europe are merely given a three-month visa for India.''
The Indian industry wants the government adopt a multi-pronged approach to de-risk the country's oil needs by conserving energy, promoting alternative sources and building strategic reserves, a Federation of Indian Chamber of Commerce and Industry su
Rising crude oil prices along with hardening interest rates in the domestic market have taken a toll on India Inc's growth outlook in the first quarter of the current fiscal.
Increase in the value of Rupee combined with rising interest rates has resulted in erosion of profitability and competitiveness of Indian exports by up to 12 per cent, according to a report by Ficci.
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