Sharma said India was poised to grow at 8.5-9 per cent with its investor and FDI-friendly regime.
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
The two apex chambers -- Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry -- said it was time corporate India did some serious introspection and improved governance standards. CII president K V Kamath said there was a 'need to immediately examine the loopholes in regulation, accounting, audit and governance that allowed such lapses to occur and address them with urgency'.
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.
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.
MAG was constituted by Department of Electronics and IT in February 2014.
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Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
Welcoming US President George W Bush's second term in the White House, industry bodies on Thursday said it would further strengthen Indo-US trade and economic ties.
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.
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.
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.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Close on the heels of Pakistani parliamentarians' visit to the country, a Pakistani trade delegation would arrive in New Delhi on a two-day visit from June 27-28.\n\n
Norms for e-commerce likely, arm's-length pricing set for change.
Defence cooperation not to undermine India's sovereignty: US
'Unless she joins one of the coalitions, she has a bleak future.' 'The NDA option is suicidal, but INDIA could help her.'
The farm sector's contribution to Indian economy is just around 20 per cent and rural India is in a shambles.
The apex biz chamber said that there is an urgent need to make contract farming legal.
A six-member delegation of Indian parliamentarians will visit Sri Lanka from April 8 to 12. The multi-party delegation visiting Colombo and Jaffna will not, however, include MPs from Tamil Nadu.
United States assured Indian companies on Wednesday of a pie in the huge sub-contracting business offered by the reconstruction work in the war-ravaged Iraq, Association of Indian Chambers of Commerce said.
US Commerce Secretary Gary Locke's robust meetings in Mumbai, includes a bilateral with the Governor of the RBIndia Dr D Subbarao and senior officials at the Department of Atomic Energy and the Nuclear Power Corporation of India, in addition to speeches to the Federation of the Indian Chambers of Commerce and Industry and the National Association of Software and Service Companies, will also be punctuated with an interaction with the dabbawallahs or tiffin caterers.
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.
Siddharth Roy Kapoor on UTV's expansion in the Southern film industry.
Government has proposed to make bribery in private sector a criminal offence.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
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.
While Federation of Indian Chambers of Commerce and Industry extended an all-out support to the government, Confederation of Indian Industry recommended 'a calibrated approach for introducing FDI in the retail sector in terms of the percentage and minimum capitalisation requirements'.
Amid the raging debate over high CEO salaries, industry chamber Ficci's President Harsh Pati Singhania said if talent is to be attracted one has to pay for it and that in most cases they are "within limits".
Development issues of vital interest to India are expected to receive focused attention at the G20 Summit beginning in Cannes on Wednesday, a Ficci Paper on the B20 Working Group on Development said.
Talks for an India-European Union free trade agreement started in 2007 and the eighth round of negotiations was completed in New Delhi last month.
Improved sentiment because of a stable government to push demand, says Knight Frank.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Shinde said the average plant load factor of Indian generation units improved to 77.5 per cent during 2009-10 from 73.6 per cent in 2006.
In an open letter to Prime Minister Manmohan Singh and to Union Commerce Minister Anand Sharma, the industry body has outlined its view on the climate change negotiations based on Indian industry's feedback and called for the prime minister to urge the developed world to provide technology transfer and funds to help mitigate the crisis.
At the Ficci meet, the Gujarat chief minister says 'tax terrorism' in the country is inherently venal; calls for discussion on economic reforms.
According to the quarterly Business Confidence Survey for the third quarter of 2012-13 by the Federation of Indian Chambers of Commerce and Industry, there is an expectation of higher sales and profits in the first half of calendar year 2013.
The recent Cabinet decision to allow 51 per cent foreign direct investment in the multi-brand retail sector in India has deeply divided the nation's political, social and trading classes.
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