Industry body Imamia Chamber to promote Shia entrepreneurs

Imamia Chamber of Commerce & Industry (ICCI), which was formed to facilitate enterprise amongst 30 million strong Indian Shia community, today announced to open chapters in all the states.

ICCI has so far launched regional chapters in Delhi, Karnataka and Uttar Pradesh.

The Chamber is seeking to mobilise the Shias, especially the entrepreneurs and youth to become its members for creating an enabling environment for businesses to flourish.

"We are targeting a membership network of 25,000 by 2015 in India by opening state chapters," ICCI Executive President M Q Syed told Business Standard here.

ICCI would build a corpus to help first time Shia entrepreneurs to set up businesses by providing funding through a joint venture.

"Our various activities would include angel funding, certifications, business consultancy, corporate training etc, mainly focusing on the Shia community, although our membership would be open to all," he added.

ICCI would forge alliances and working relationships with other existing business chambers and bodies going forward, he clarified.

He termed Shias as "minority within minority" claiming even after 66 years of independence, the 30 million strong Shia community was one of the most economically challenged in India.

Shia and Sunnis are the two sects amongst the minority Muslim community.

"Over 60 per cent of Shias in India are under 30 years of age and we aim to bring them in the economic mainstream of the national and global economy," Syed underlined.

The national headquarter of ICCI is based out of Mumbai and was set up in November 2013.

ICCI UP chapter president Najmul Hasan Rizvi informed the Chamber would focus on Micro, Small and Medium Enterprises (MSME) and rural-based industries in the state.

"We would facilitate setting up of enterprises by Chikan and Zari artisans, who remain an exploited lot, as they get pittance for labour while the profit margin is squeezed by middlemen," he said.