FICCI MEET
Pre-Budget meeting with FM: Tax sops, higher capex, stable tax regime top industry wishlist
Budget expectations: Indian industry and financial institutions had their customary pre-budget consultations with Finance minister Nirmala Sitharaman on Thursday. The suggestions from India Inc included tax sops, capex boost as well as tax stability.
MIB calls meeting of media and ad bodies to discuss self-declarations
The Ministry of Information and Broadcasting (MIB) has called a meeting of media and ad industry bodies to discuss the issue of advertisers giving self-declaration certificates (SDCs) for broadcasting and publishing ads on TV, print, digital, and radio from June 18. SDCs will be given to broadcasters and publishers as proof at the time of issuing ads, certifying that their ads do not contain misleading claims and comply with regulatory guidelines.
Move on from fafda, paratha and cater to international quality: Food Processing Secy tells industry
Anita Praveen, Secretary, Ministry of Food Processing Industries, says the time has come to start manufacturing products that appeal to everyone's taste globally.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
Indian investors have reason to cheer with Kazakhstan initiating major economic reforms
Indian private investors are looking for a liberalized economic environment with fair competition in the Central Asian region. Kazakhstan being the biggest and modern economy in the region provides a platform to expand business. Kazakhstan is India’s largest trade and investment partner in Central Asia. F
TV revenue growth may not meet H1 expectations
TV broadcasters in Mumbai anticipate sluggish revenue growth in the first half of 2024 due to a subdued ad market and restrictions on increasing channel prices during the general elections. While political advertising may provide relief, challenges persist with subscription revenue, digital competition, and sports broadcasting.
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FICCI celebrates 97th Foundation Day, felicitates 33 past presidents
The industry chamber also simultaneously held its second National Executive Committee Meeting (NECM) for 2023-24, attended by over 125 industry members.
India Inc backs 'One Nation One Election'
Ficci President Anish Shah said there are over 2,50,000 Ficci members across the country, who feel that multiple elections at various levels impact ease of doing business, slow down decision-making in government and lead to avoidable costs, both for employees and employers.
A potential Rs 12,000 crore saving opportunity: Why India Inc is a fan of One Nation One Election
India Inc through lobby groups FICCI and CII have advocated for simultaneous Lok Sabha and assembly elections, endorsing the 'One Nation One Election' concept. The move aims to reduce disruptions and additional costs associated with multiple elections. FICCI proposed a single election every five years for Union, state, and local governments, with CII suggesting elections every two-and-a-half years as an alternative.
Indo-Canada Chamber of Commerce delegation reaches midpoint, extends invitation to Gujarat CM for Gala event
The Indo-Canada Chamber of Commerce (ICCC) highlighted the progress of its India Mission 2024, led by President Murarilal Thapliyal, in enhancing trade relations between India and Canada. The delegation initiated discussions in Delhi, engaging with policymakers and business leaders at various forums.
Govt reconstitutes the central board of trustees of EPFO
The CBT is constituted for a period of five years and the last board was notified on November 9, 2018. The constitution of the new board will pave way for the much-awaited CBT meeting of the EPFO to decide on interest rates for 2023-24.
Demand incentives required mid-term to promote adoption of EVs: Kinetic Green Energy CEO
Sulajja Firodia Motwani's comments come at a time when the Centre has cut subsidies on electric two-wheelers in the second edition of its flagship Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. The government is also considering the need for a third edition of the programme with demand incentives for buying EVs under FAME II set to end this financial year.
Mahindra’s Anish Shah takes over as FICCI President
At the helm of FICCI, Anish Shah is joined by Harsha V Agarwal, Vice Chairman and Managing Director of Emami Ltd. Agarwal is one of the youngest second-generation leaders of the Rs. 35,000 crore Emami Group and a member of the strategic think-tank committee. He is the younger son of Mr Radhe Shyam Agarwal, Founder of Emami Group.
India has emerged as global growth engine: Rajnath Singh
"Our growth model shows that equal opportunities to everyone and the accelerated growth rate can be achieved simultaneously," the minister said at Ficci's 96th annual general meeting and annual convention in New Delhi.
Private capital needed to accelerate growth further: CEA Nageswaran
India's chief economic advisor, V Anantha Nageswaran, has urged private capital to accelerate the country's growth and cement its position as a global growth engine. He emphasized the need for a relook at the regulatory framework every few years to make regulation and compliance easier for businesses. Nageswaran highlighted that India's growth engine can become faster and accelerate if private capital formation kicks into higher gear.
Will address EU’s carbon tax, retaliate if needed: Piyush Goyal
Under the EU’s Carbon Border Adjustment Mechanism (CBAM), non-EU steel producers are required to report direct and indirect emissions. The monitoring of such products began October 1.
Mahindra’s Anish Shah is next FICCI President
Mahindra Group's CEO, Anish Shah, has been appointed as the President-elect of the Federation of Indian Chambers of Commerce and Industry (FICCI). Shah will succeed Subhrakant Panda, who is the Managing Director of Indian Metals & Ferro Alloys Ltd. He is also the Managing Director of M&M, the parent company of the Mahindra Group.
Next Sebi board meet to discuss delisting tweaks
"There was a popular belief that we would never review the delisting regulations and that we would stay with the reverse book-building process," said Buch while addressing a conference organised by Ficci on Thursday. "A consultation paper is already floated and Sebi has received a lot of feedback. At the next board meeting, we are taking that proposal to our board."
Upskilling in Indian tourism industry: 5 initiatives that can change tourism careers
According to the latest India Skills Report, over 50% of the Indian workforce requires immediate reskilling to remain relevant in the job market; this imperative applies equally to the tourism sector.
Gujarat aims to become USD 1 trillion economy by 2030, play major role in India's USD 5 trillion journey, says CM
Gujarat Chief Minister Bhupendra Patel has expressed the state's determination to contribute to India's goal of becoming a $5 trillion economy and aims to become a $1 trillion economy by 2030. Patel highlighted Gujarat's significant role as the growth engine of India, with the state accounting for 8% of the GDP, 18% of industrial output, and 30% of exports.
G20 success: This is India's moment, says industry leaders
Deepak Sood, Secretary General of the industry association Assocham, said: "#G20NewDelhi Leaders' Declaration adopted with consensus on a wide range of issues confronting global economic and geo-political environment is a reflection of India's clout as an influential economic and strategic power which continues to grow under a strong leadership of Prime Minister Shri @narendramodi ji.
Indian enterprises are expanding public cloud presence: EY-FICCI
The report by EY and FICCI titled "India's cloud and data revolution" found that 78% organisations already have more than 30% data on cloud; and 58% are focusing on new workloads for modernisation initiatives. India is turning into a hub of cloud first companies led by a strong influx of global capability centres that thrive on a cloud focused talent pool.
UP has moved from BIMARU state to path of a developed state: CM Yogi Adityanath
Uttar Pradesh Chief Minister Yogi Adityanath said that UP would not be the sixth-largest economy, but the second-largest economy of the country very soon and that the next five years will be important. "In the coming years, UP will become the leading economy of the country and will undertake its role as the Growth Engine of the country," CM Yogi said.
Northeast India is witnessing surge in infrastructure development: FICCI President
Northeast India is witnessing a surge in infrastructure development, said Subhrakant Panda, President of Federation of Indian Chambers of Commerce and Industry (FICCI). Lack of connectivity had hindered the region's development earlier, but now the focus is on capital expenditure and increasing per capita income. Assam plays a crucial role in the development of the region with a significant position in India's Act-East Policy.
Assam to bring in customised industrial policy, says CM Himanta Biswa
Assam chief minister Himanta Biswa Sarma said that the work is underway to bring in a customised industrial policy that would take into consideration specific needs and requirements of industries on a case-by-case basis that would be a departure from the current policy of one-size-fits-all.
Health Minister Mansukh Mandaviya to meet representatives of e-pharmacies soon: Sources
"There are concerns over data privacy, malpractices and irrational sale of drugs," said the source. "We are against the e-pharmacies business of providing online medicines without prescription but not against the online prescription given by doctors," the sources added.
No global company can think about growth without India, says FICCI president
India is a land of opportunities that no global company can ignore, says Subhrakant Panda, president of the Federation of Indian Chambers of Commerce and Industry (FICCI), owing to its large unified domestic market and resources to produce for both domestic and export markets. Panda emphasized that India is ideally positioned for rapid growth, despite the global slowdown and advanced economies struggling with inflation, and lauded the ease of doing business and the opportunities available for India globally. He added that Indian companies were "innovative, competitive and very much capable of taking on the best in the world".
RBI focused on meeting 4% inflation target: Das
The rupee has performed better than most currencies against the US dollar, having appreciated against the greenback in terms of real effective exchange rate. On a financial year basis, almost all major currencies - barring a few like the Swiss franc, the Singapore dollar, the Russian ruble and the Indonesian rupiah - have depreciated against the US dollar by more than the rupee," Das said.
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