CII DIRECTOR GENERAL CHANDRAJIT BANERJEE
CII, Nasscom inks MoU to skill one lakh candidates by 2026
As per the memorandum of understanding signed between the Confederation of Indian Industry (CII) and Nasscom on Monday, candidates will be skilled, reskilled and upskilled across seven identified sectors that include banking, financial services and insurance (BFSI), manufacturing, logistics, healthcare, green jobs, hospitality and live sciences.
CII: Continuity in reforms will make India developed Nation
The Confederation of Indian Industry (CII) believes that continuity in policy reforms under Prime Minister Narendra Modi's leadership will drive India towards becoming a developed nation. The CII president, Sanjiv Puri, stated that with a strong growth rate of 8.2% for 2023-24, the new government can implement further reforms to capitalize on global opportunities and strengthen the Indian economy's fundamentals. The CII is eager to collaborate with the new government to accelerate the nation's development journey.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
CII brings out new corporate governance charter for startups
CII launched a corporate governance charter for startups, including a self-evaluative scorecard. The tool allows startups to measure their governance progress, with score changes indicating improvements in governance practices as assessed against the scorecard from time to time.
Unicorns to add $1 trn to economy by 2030, generate 50 mn jobs: CII study
A report anticipates new unicorns contributing USD 1 trillion to India's economy by 2030, generating 50 million jobs. The startup ecosystem, led by over 100 unicorns, is expected to drive significant growth across various sectors, impacting GDP and employment positively.
One Nation, One Election to improve govt efficiency, foster economic development: CII
The Confederation of Indian Industry (CII) expressed support for simultaneous elections, stating that it would enhance governance efficiency and foster economic development. CII presented its views to the High-Level Committee on One Nation One Election (ONOE), emphasizing the economic benefits of streamlining the electoral process.
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Nitin Gadkari envisions India as global leader in construction equipment manufacturing by 2028
India's construction sector, currently the world's third-largest, has the potential to become the top industry within five years, according to Nitin Gadkari, Minister for Road Transport and Highways. The sector will contribute to Prime Minister Narendra Modi's vision of a carbon neutral economy by embracing sustainable fuels like ethanol, methanol, and hydrogen.
Ease of I-T refunds, taxpayers saw reduced time, simplified process: survey
The survey further reveals that not only has the refund timing been reduced, individual taxpayers have also reported simplification of the refund process with 90% of taxpayers getting automatic refunds. Also 75% of the individual taxpayers did not have to pay extra tax beyond the tax deducted at source (TDS).
Business activity picks up greater pace in July-Sept
The Confederation of Indian Industry's Business Confidence Index showed that two-thirds of the respondents believed that sales and new orders rose faster in the second quarter of the ongoing financial year compared with the previous quarter, whereas more than half expected capacity utilisation to average 75-100% - five percentage points higher than the previous quarter.
India, LAC can target USD 100 billion trade by 2027, says EAM Jaishankar
External Affairs Minister S Jaishankar on Thursday, highlighted four key pillars of cooperation between India and Latin America and said that the two economies can target 100 billion USD in trade by 2027. Jaishankar also highlighted four key pillars of enhanced engagement namely; supply chain diversification; resource partnerships; sharing of developmental experiences; and addressing global challenges.
Indian economy’s growth sustained by conducive domestic policy, healthy macro indicators: CII survey
The CII Business Confidence Index (CII- BCI) improved to a reading of 66.1 in Q1 (Apr-Jun FY24) as compared to 64.0 in the previous quarter showing a positive momentum in indicators such as GST collection and air & rail passenger traffic. 63 per cent of over 180 firms surveyed in the Business Outlook Survey (63 per cent) expect India's GDP growth to be 6-7 per cent for FY24.
Business confidence index soars in Q1 amid robust growth
India Inc maintains that the robust capital expenditure (capex) momentum of the government, strong domestic drivers and a strong financial system are expected to be the key drivers of growth in this fiscal, the survey said. CII director general Chandrajit Banerjee said the positive momentum seen in the first quarter of 2023-24 is encouraging and reiterates the on-ground experience of industry players.
163 Indian companies invested USD 40 bn in US; created 425K jobs: Report
The survey titled "Indian Roots, American Soil" of the Confederation of Indian Industry (CII), which was launched on Wednesday by India's Ambassador to the United States Taranjit Singh Sandhu in the presence of US Ambassador-designate to India Eric Garcetti, also revealed that Indian companies spent nearly USD 185 million as corporate social responsibility in the United States and their financing of US-based Research and Development (R&D) projects is nearly USD 1 billion.
Rs 19,500 cr PLI-II for solar equipment to save Rs 1.4 lakh cr forex, says R K Singh
Commenting on the PLI-II for solar modules, Chandrajit Banerjee, Director General, CII said,"The government focus on R&D will further enhance the efficiency of the solar PV modules and simultaneously indigenize technology and help in raw material selection. Coming ahead of the Fifth General Assembly, the announcement of the PLI-II will help projecting India as a strategic partner in the energy transition."
Growth outlook for H1FY23 robust despite monetary policy tightening: CII poll
The poll revealed that 44 per cent of the participants felt that the revenue growth would be in the range of 10 per cent to 20 per cent during the first half of FY23, whereas 32 per cent of the participants anticipate a jump in revenues of more than 20 per cent.
GST biggest indirect tax reform in India's history: CII Chandrajit Banerjee
CII director general Chandrajit Banerjee said the government is to be particularly felicitated for taking on board industry suggestions continuously and coordinating during the entire period of transition. The Goods and Services Tax (GST) was rolled out on July 1, 2017.
Economic Survey's GDP forecast of 8-8.5 per cent optimistic, say experts
India's economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the Economic Survey, tabled in Parliament on Monday.
India Inc cheers 100-cr Covid vaccine doses milestone
Chandrajit Banerjee, director general of CII, said, "The far-sighted leadership of Prime Minister (Narendra) Modi in the vaccination endeavour along with many economic reforms announced in this period make India attractive for investments and will catalyse its growth path."
Need for relaunch of PMAY scheme with in-built credit-linked insurance: CII
PMAY, however, falls short of covering the risk of death or disability of the borrower as the loans sanctioned under the scheme do not have an in-built insurance provision, the chamber said in a statement.
CEOs feel economy will recover swiftly, but Covid vaccine holds key
“The deadly second wave has not affected much of the economic activities as the lockdowns were largely designed to limit social gathering and this has helped limit the impact of the second wave on economic growth when compared to the first wave,”, said Chandrajit Banerjee, Director-General, CII.
CII writes to finance ministry, suggests ECLGS scheme for stressed sectors
The industry chamber on Sunday said it has recommended this intervention to assist the stressed segments, primarily in the service sectors like hospitality, tourism aviation and retail, as this would not have any impact on the fiscal deficit this year but will provide the much needed liquidity to these sectors which employ a large number of people.
India Inc looks forward to enhanced Indo-US ties as Joe Biden wins
Hailing Biden and Harris as the new leaders of America, Chairman and MD of JSW Group Sajjan Jindal said in a tweet, "A democratic process voted for a change in a very defining year globally! Congratulations to the American community that ensured that the democratic process was not compromised in a tough external environment."
CII poll finds Rs 1,819 crore of unpaid dues to MSME members
The sample CII poll showed that about 32 per cent of the outstanding to MSMEs have been delayed for more than 2 years and about Rs 895 crore are stuck in disputes.
Create strategic reserve for milk powder says CII
CII suggested government to consider measures such as rationalization of GST on value added products such as butter and ghee to build market resilience. CII also suggested the government to distribute liquid milk through mid-day meal schemes to ensure nutrition availability for children.
Partial easing won’t mend fractured supply chains, says industry
Industry lobby groups have also been asking the government for a strong stimulus.
Movement of workers, raw material key hurdles in restart of businesses: CII survey
The survey points that permits for enterprises, passes for workers & supply chain movement are the key hurdles.
CII pegs GDP growth between -0.9% & 1.5%
India's GDP could marginally expand 1.5% or even contract 0.9% in this financial year, the Confederation of Indian Industry (CII) said in a report and suggested several measures to address the economic challenges posed by the Covid-19 pandemic.
Coronovirus: CII says Government should set up joint task force to gauge impact
The government should consider setting up a joint task force with the industry to check the economic spillover of the Covid-19 outbreak in China, the Confederation of Indian Industries (CII) has said.
More risk capital and a strong corporate governance code, key to India's GDP growth: Uday Kotak
India’s aspirational growth of 6-7% depends on risk capital and strong corporate governance code, Kotak said.
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