Addressing the industry's concerns that banks were not lending to the MSME sector, he said credit flow to MSMEs had doubled from Rs 1,27,000 crore (Rs 1,270 billion) in 2006-07 to Rs 2,57,000 crore (Rs 2,570 billion) in 2008-09. In 2007-08, credit flow to the sector was Rs 2,13,000 crore (Rs 2,130 billion).
The CII has suggested a 5-point agenda on the measures that need to be undertaken by central and state governments to stave off the adverse effects of a deficient monsoon. Let's find out what this agenda is. . .
Corporate India is on the path to recovery after having been pummelled around in the global recessionary storm, with companies showing optimism on hiring and salary increases, says a joint Mercer-CII survey.
The government is trying through industry chambers to get corporate world incorporate data on SC/ST recruitment, Social Justice and Empowerment Minister Mukul Wasnik told Rajya Sabha on Thursday.
As a rule, when Tarun Das speaks, he is to be taken seriously. The exception occurs when the Confederation of Indian Industry's former chief mentor says that Deepa Prahalad is a clone of her father's.
Software major Infosys was eyeing Tier-II cities like Tiruchirapalli and Madurai in Tamil Nadu for its expansion once the global economy recovered from the current recession, a top company official has said.
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'.
Corporate affairs minister also rules out private sector job quota.
Independent directors of Satyam Computers, who agreed to the company's proposal of buying out two promoter-related companies, failed to be independent in 'spirit', industry captains said.
Information technology czar Azim Premji foresaw on Friday emergence of a two-party system in the country, saying the recent Lok Sabha polls verdict was an indication to that effect. Addressing the Confederation of Indian Industry-organised fifth India Innovation Summit 2009 in Bangalore, he said the results of the recent Parliamentary elections suggested that Indian voter wants a two-party system.
We are solid, and what we are now looking for is a steady explosion of economic cooperation between India and the US, Tarun Das tells rediff.com
The Indian vaccine industry largely feels there are two ways in which vaccine innovation can be spurred - one, get a high price for the product and two, have the government buy a few hundred million doses of the product at a certain price.
Andhra Pradesh ranked No.1 with regard to the total number of investments made in textile projects this year, a study conducted by Confederation of Indian Industry-Southern region said.
The study found out that in terms of tourism budget, Jharkhand ranks the highest with Rs 160 crore, compared to West Bengal's Rs 31 crore (Rs 310 million), Orissa Rs 44 crore (Rs 440 million), Bihar Rs 25 crore and Chattisgarh Rs 50 crore (Rs 500 million).
On September 7, the trade unions have called a dawn to dusk bandh to protest against rise in price of daily commodities and, once again, fuel price hikes.
As campaigning picks up for the Lok Sabha elections, the newly elected President of industry body CII, Venu Srinivasan, has said he will promote a transparent way of donations to political parties by business houses.
Having altered the income tax slabs in the Budget, the Finance Ministry on Thursday said the next round of widening of the tax slabs is possible when the direct taxes code (DTC) comes into effect, likely from 2011-12.
The Finance Ministry on Thursday said it does not anticipate any backlash from PSU employees against divestment in state-run companies and the target of Rs 40,000 crore under this head next fiscal is 'modest' and achievable.
Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.
NCDs are unsecured loans to a firm with no provisions to exchange debt for corporate stock.
India to be an affluent society by 2039? The statement may raise many an eyebrow now but India 2039, an Affluent Society in One Generation, a book edited by Harinder S Kohli and Anil Sood and published by Sage Publication India Pvt Ltd stresses on such a possibility.
Since independent directors are not involved in the day-to-day management of the company, their liabilities should be distinguished and made less onerous than liabilities of the executive and non-independent directors, said a CII statement.
Speaking on the sidelines of an event organised by the Confederation of Indian Industry, ArcelorMittal Design & Engineering Centre CEO Pierre Jonette said: "Our main objective is to bring down the total project cost by 20-22 per cent across all the green projects. We have internally decided to increase sourcing from local low cost destinations for most of our greenfield projects."
Three manufacturing sectors (engineering and construction, industrial commodities and materials and commodities) created more value for its shareholders in last five years than IT or pharmaceutical companies. Engineering and construction companies, led by Larsen & Toubro and BHEL, posted a total shareholder return of 81 per cent in the last five years trailing March 31, 2007, the BCG-CII study showed.
Country's apex business chambers -- CII, Ficci and Assocham -- have said the WTO draft on Non-Agriculture Market Access under the Doha Round of trade talks was in complete disregard to the mandate of the round, which had to revolve around lesser obligation on the developing countries for duty reduction.
Forget all those theories about the passive, fatalist Indian, long peddled by commentators, both home-grown and foreign. If recent survey data are to be believed, Indians are among the most optimistic people on earth, and this is true of consumers, investors, business managers. . . the whole spectrum.
According to Staermose, the main issue is that the changes in labour laws should be done after holding extensive tripartite consultations.
IT major Wipro's chief Azim Premji on Friday cautioned the industry that competition globally is hotting up and warned the sector against falling into a mind trap of 'India Advantage'.
For the 2009-10 fiscal, Pranab said, he expects the economy to grow by 7.2 per cent.
A draft bill on the Unique Identity Project would be made public within the next one month, chairman of UIDAI Nandan Nilekani said on Tuesday. "We need an Act to govern a regulatory body like UIDAI. The draft of the Act will be put for public discussion in the next four weeks," he told reporters on the sidelines of a Confederation of Indian Industries function in New Delhi.
India Inc said the Foreign Trade Policy would give a significant push to manufactured goods and agriculture- and labour-intensive exports.
Elaborating on the recommendations, CII Vice-President Hari Bhartia said the forthcoming budget should focus on an investment-led growth by introducing broad-based reforms in the banking, finance and retail sectors. The Union Budget is expected to be presented in July, 2009.
The CII on Monday recommended raising personal income tax exemption limit by Rs 50,000, removal of Fringe Benefit Tax and surcharge on corporate tax along with measures to promote investment in the full budget to be presented by the new government in July.
More than lobbying for concessions, CII strove to be an instrument of change.
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.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
Das was the chief mentor of CII for the last five years. Prior to being the chief mentor, Das was the Director General of CII from 1974 to 2004.
US Commerce Secretary Carlos Gutierrez has said that with the signing of the historic and landmark US-India civilian nuclear deal it is now imperative that India move quickly to enact nuclear liability protection to envisage the private sector of both countries to engage in business.
American investments in West Bengal are likely to suffer to a certain extent due to the Singur issue.
the Confederation of Indian Industry Business Confidence Index (CII-BCI) has predicted a return to better business conditions than before the downturn. The index for the period between October 2009 and March 2010 surged by a robust 7.4 points to 66.1 points, against a mere 2.4 point increase during the first half of the financial year.
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