The Indian banks are not prepared to implement the stringent Basel-II norms including that of capital adequacy and non-performing assets in toto by 2006, according to the Federation of Indian Chambers of Commerce and Industry survey.
"Earlier, India was a land of snake charmers. Now, Americans perceive Indians to be very smart. The infotech revolution changed it all," says FICCI Secretary-General Amit Mitra.
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
Leading industry and export chambers like PHDCCI and Federation of Indian Export Organisation on Tuesday demanded 1.0 per cent cut in bank rate and cheaper export finance in Reserve Bank of India's' forthcoming busy season credit policy.
Prime Minister Narendra Modi on Tuesday met business leaders to hear their grievances on issues ranging from high capital cost to ease of doing business to certainty on taxation matters, as he interacted for the first time with the Indian industry chambers since taking charge over a year ago.
Almost 53 per cent of the companies covered by the survey felt that high cost of credit was creating a problem for India Inc.
India is among the top three emerging markets in the wellness economy.
A delegation of 100 Pakistani businessmen would visit New Delhi next week to take part in a meeting of the India-Pakistan Chambers of Commerce and Industry.
The Reference has asked the court for its view whether the verdict in the 2G case be given retrospective effect for radio waves granted since 1994.
Around 100 leading corporates from Pakistan will arrive in New Delhi on July seven as part of a business delegation to discuss the macro level trade issues.
As Chandigarh braces for a fierce contest between Congress candidate Manish Tewari and the BJP's Sanjay Tandon, its industry leaders harbour a fervent wish: Replicate the success of the National Capital Region model in this Union Territory.
Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15. He was instrumental in a slew of business initiatives, starting with his stint as the chairman of Kesoram Industries.
The dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
Loss of confirmed orders, increase in wages and labour shortage were blamed on the scheme in a survey of 100 companies from diverse sectors.
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 beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
Mamata woos industry with boat ride to Gangasagar, Sundarbans
India Inc's initiative to adopt Industrial Training Institutes (ITIs) across the country is facing problems because of low level of cooperation on the field as well as red-tapism, industry lobby groups have claimed.
Leading industry chambers, Confederation of Indian Industry and Federation of Indian Chamber of Commerce and Industry on Tuesday said the loss caused by Tsunami disaster was limited to shipping, tourism and marine products export sectors but refused
Industry representatives recommended that the basic annual exemption limit for individuals should be raised to Rs 1,50,000 from Rs 1,10,000 and the peak income tax rate be cut to 25 per cent, from 30 per cent at present.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Annual event being organised by FICCI focuses on the investment potential offered by India's infrastructure sector.
Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal.
In the midst of a political thaw, a large trade delegation from Pakistan is arriving in India, crossing the Wagah border on Friday, to discuss bilateral trade issues with the Indian businessmen.
In their respective memorandums, the Federation of Indian Chambers of Commerce and the Confederation of Indian Industry asked for re-introduction of investment allowance, restoring the depreciation rate to 25 per cent and an increase in plan public expenditures, primarily in infrastructure, which would boost private investments.
Reversing a six month declining trend, WPI inflation moved up marginally to 0.11 per cent in December mainly because of increase in prices of food items.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
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.
The declining exports would have implications for the job market.
MAG was constituted by Department of Electronics and IT in February 2014.
Sharma said India was poised to grow at 8.5-9 per cent with its investor and FDI-friendly regime.
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.
Indian industrialists would take up the outsourcing issue during the Indo-US Private Sector Advisory Group meeting in Washington on Tuesday, Federation of Indian Chamber of Commerce and Industry president Rajan Bharati Mittal said.
Norms for e-commerce likely, arm's-length pricing set for change.
The visiting Pakistani business delegation on Tuesday urged Prime Minister Atal Bihari Vajpayee to ease visa norms for the Pakistani businessmen so that trade between the two countries could flourish.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
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