Ficci is also concerned that outsourcing, relaxation of export-controls on dual-use technology are other issues that can 'hinder' the burgeoning relationship.
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
Road Transport and Highways Minister Nitin Gadkari on Tuesday favoured giving a majority 51 per cent stake to foreign partners in joint ventures for building tunnels and detailed project reports to improve work quality. Gadkari said providing a majority stake to a foreign partner in the joint venture is necessary to ensure that only serious and technically qualified players bid for tunnel projects.
The industry ministry in a recent concept paper proposed raising the FDI cap in the defence sector to 74 per cent.
Close on the heels of the Indian team's visit to Thailand for discussions on bilateral free trade agreement, FICCI president Y K Modi met Thailand Prime Minister Thaksin Shinawatra in Bangkok to promote business ties between the two countries.
The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
After seven successive quarters of decline, the Federation of Indian Chambers of Commerce and Industry's (Ficci) overall business confidence index has increased in the OctoberDecember 2008 with less number of respondents saying economic situation has worsened.
Ficci has suggested formulation of a 'manufacturing policy'. Such a policy will spell out guidelines for attaining a 12% growth of the sector annually. Guidelines will help in terms of incentives and subsidies; technology development; development of sustainable raw material base; regulatory and procedural reforms to the manufacturing sector. The manufacturing sector's profitability has been badly affected in the last few months & the government needs to intervene immediately.
The government has decided to set up a joint venture company with industry body Ficci for encouraging investment in the country."The Invest India company, a joint venture between the department of industrial policy and promotion and Ficci, would be funded by the government and managed by the chamber," commerce and industry Minister Kamal Nath said
GDP growth figures of a mere 4.5% has placed a greater onus on the government to implement reforms.
Ex-head of BPL Mobile and currently a Rajya Sabha MP, Rajeev Chandrasekhar will be the new head of Ficci.
The stage is set for Hollywood Hugh Jackman to make his appearance at the three-day convention on Friday.
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).
India could become a fiscal surplus nation if the government manages to bring back at least one-tenth of the estimated Rs 45 lakh crore black money stashed abroad, industry body Ficci said on Monday.
Outlining priorities for improving the country's international rating and putting it on a high growth trajectory, the Federation of Indian Chamber of Commerce and Industry on Thursday suggested massive overhaul of infrastructure and special emphasis
Ficci Secretary-General Amit Mitra said this new not-for-profit organisation had been set up to improve the availability of skilled manpower in India and Ficci had picked a 10 per cent stake in this company for Rs 51 lakh. The Skills Development Corporation itself is empowered with a corpus of Rs 1,000 crore. A Ficci representative will also be on the board of this company.
National Thermal Power Corporation has bagged the ISTD-FICCI Award for excellence in HR practices.
All industry bodies including Confederation of Indian Industry and Federation of Indian Chamber of Commerce and Industry should work together in their efforts to contribute the country's economic growth, Anand Mahindra, managing director, Mahindra &
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 recent NSG waiver, which has opened a new window for nuclear commerce in India, will benefit over 600 domestic and international firms and help draw over Rs 180,000 crore (Rs 1,800 billion) in foreign investment over the next 10-15 years, according to the Federation of Indian Chambers of Commerce and Industries (Ficci).
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.
The Federation of Indian Chambers of Commerce and Industry on Thursday said it was not averse to a change of guard at the Centre but wanted the new government to continue the reforms process and provide stability.
Opposing a FICCI-sponsored Sri Lanka visit of a team of Parliamentarians starting Monday, Union Environment Minister Jayanthi Natarajan said it would deeply hurt the cause of Lankan Tamils and asked the industry body to cancel it in expression of solidarity with them.
They were recognised for their contribution to Hindi cinema.
In a letter to Prime Minister Manmohan Singh, Ficci president R V Kanoria said it is possible to have NIB "without violating any existing Act or rule as the intention is to speed up the decision making process and not bypass any law".
The earlier perception of policy paralysis "has now changed" in the US in view of the new set of economic reforms unleashed by India.
The Federation of Indian Chambers of Commerce and Industry (Ficci) president RV Kanoria calls for privatisation of Coal India Limited (CIL), the world's largest coal producer and India's public sector unit.
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.
Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
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.
Whenever people think of India, they will think of Ficci as a place they could go to facilitate investment, says Rajiv Kumar.
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 government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
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.
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).
A visiting Pakistani women's trade delegation on Friday signed an agreement with India's Federation of Indian Chambers of Commerce and Industry to promote business between the arch-rivals.
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.
