Rajan Bharti Mittal, vice-chairman and managing director of Bharti Enterprises took over as president of Federation of Indian Chambers of Commerce and Industry (FICCI) at the conclusion of its 82nd annual general meeting (AGM).
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
An industry survey has showed that economic growth for the current fiscal may slip to 4.8 per cent from 5 per cent estimated earlier.
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.
Federation of Indian Chambers of Commerce and Industry charted a roadmap for 8-10 per cent economic growth
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.
The Federation of Indian Chambers of Commerce and Industry is not worried over the recent statements made by the Left parties advocating radical changes in the economic policy and has recommended a 10-point agenda for the new government.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
India imports a staggering 1,000 tonnes of gold every year, draining out foreign exchange and putting pressure on the fiscal deficit.
The Federation of Indian Chambers of Commerce and Industry is 'very hopeful' that the seven SAARC nations would be able to clear all roadblocks on the way to signing of Saarc Free Trade Agreement (SAFTA) at the Islamabad summit.
The apex biz chamber said that there is an urgent need to make contract farming legal.
A survey by industry body Ficci has lowered the country's economic growth forecast for 2013-14 fiscal to 5 per cent, from 6 per cent projected in July, indicating tough times ahead.
Securitisation Act tilted against borrowers: FICCI
In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders. According to Ashwini Tewari , managing director, SBI, the bank is focusing on three broad segments. One is wealth banking, where the bank is focusing on individuals who perhaps do not qualify for private banking but are above regular accounts and require individual attention.
The reservation of jobs in the private sector will tantamount to putting the clock back on economic reforms and not even political parties are ready for a legislation making employment of SCs and STs binding on India Inc, industry body Ficci said.
Bharti Airtel boss Sunil Mittal already heads the Confederation of Indian Industry (CII). Former BPL Mobile boss Rajeev Chandrasekhar is slated to take over as Federation of Indian Chambers of Commerce and Industry (Ficci) president.
The Federation of Indian Chambers of Commerce and Industry has partnered with the World Intellectual Property Organisation to launch an anti-piracy and counterfeit campaign next month.
Yogendra Kumar Modi was on Friday elected as the next president of the Federation of Indian Chambers of Commerce and Industry. He will succeed A C Muthiah.
According to a majority of respondents in a survey conducted by FICCI, the BSE barometer's new achievement is likely despite the overall business confidence dipping to a five-year low and GDP growth slowing down to 8.9 per cent.
Although engulfed with challenges, equity capitalisation in India has grown over six fold.
A delegation from Ficci explained the project to the businessmen at an India-South Africa Round Table in Johannesburg on Tuesday.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
It has been a slow year for the Indian media and entertainment (M&E) business. After two years of double-digit growth, it grew at just about 8 per cent in 2023 over 2022. It now stands at Rs 2.33 trillion in advertising and pay revenues.
The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir's (J&K's) Reasi district after repeated setbacks to put the reserve up for auction again in six months.
While FICCI officials said that parting of ways with Price Waterhouse was not related to the Satyam episode, sources said all business chambers have become wary of associating with those getting infamy from the country's largest corporate fraud.
The Ficci Survey for the second quarter of 2008-09, which was carried out during November and December 2008, revealed 52 per cent of companies feel that the overall economic conditions would weaken further in the coming six months. Further nearly 90 per cent of the 412 companies surveyed in the report feel that the economic situation has deteriorated over the last six months.
Over the years many things changed. There are however three things that haven't changed -- the filmi influence on the event, its tepid content and its time management. If Frames has to move on to the next level then Ficci needs to work hard on these.
The Federation of Indian Chambers of Commerce and Industry on Saturday said that economic growth of 8-10%, as envisioned by the NDA, was quite possible, and it has worked out an action plan in this regard for the next five years.
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
The Indian economy will expand by 5.6 per cent during 2014-15 even as the Reserve Bank is not likely to cut interest rates this year, according to Ficci's latest Economic Outlook Survey.
It suggested reforms in the real estate sector.
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.
Industry chamber Ficci has sought details from the government about the "actual progress" of the mega infrastructure projects cleared by Cabinet Committee on Investment.
