Cii

CII body calls for expansion of PLI for medical devices to more products

CII's medtech group to ask govt for strict policy on import of refurbished devices, incentives in R&D, and enhanced rebate on export duties

Govt initiatives like PLI helping attract foreign investors in India: CII

The government initiatives such as Make in India and production linked incentive schemes for different sectors are helping attract foreign investors to set up bases in India, according to industry chamber CII. In a letter to Commerce and Industry Minister Piyush Goyal, CII Director General Chandrajit Banerjee said that the government's increased investments in infrastructure such as roads, railways and ports are making the domestic industry more competitive. The policy shift within India has also occurred at the same time as geopolitical conditions have become favourable for India, with many global companies looking to diversify their geographical base, the letter, dated November 5, said. "FDI inflows have increased from USD 45.14 billion in 2014-15 to USD 70.95 billion in 2023-24, indicating the growing interest of foreign investors for setting up base in India," it said, adding that the PLI schemes have attracted huge investments. It added that India's manufacturing capabilities

Industry bodies urge Finance Ministry to ease TDS rate structure

Proposal seeks to lessen compliance burden on taxpayers and avoid litigation

CII asks for more reforms in tax code, sustaining capex in FY26 Budget

Industry chamber CII on Thursday pitched for further reforms in the tax system, including through simplification of taxes, as well as sustaining the capital investment momentum in the Budget for 2025-26. In a meeting with Revenue Secretary Sanjay Malhotra, CII urged the government to increase the capex by 25 per cent over 2024-25 (BE) with a sharp focus on infrastructure related to rural areas, agriculture, and the social sector. The Budget for the 2025-26 fiscal year is set to be presented on February 1, 2025. CII President Sanjiv Puri said given the intrinsic strength of the economy and with growth aspirations of the people, this is an opportune time for India to design a blueprint and a template outlining the next phase of reforms. "India has emerged as the beacon of stability and growth in a fraught world, in the last decade. We are looking at the Union Budget to further consolidate this position and create a competitive India, that is prosperous, inclusive, equitable, environm

BEML aims for Rs 900 cr capex till FY25, re-enters building equipment space

BEML has outlined a capital expenditure of Rs 900 crore till FY'25 and re-entered the construction equipment market after a hiatus of nearly five years, aiming to capitalise on the Rs 45,000 crore market opportunity. The company, formerly Bharat Earth Movers Limited, recently underwent a significant business restructuring, establishing 11 strategic business units (SBUs) and two micro business units to drive sustainable long-term growth. As part of this restructuring, we have re-entered the construction equipment business, focusing on higher capacity products to tap into the massive Rs 45,000 crore market, Shantanu Roy, Chairman and Managing Director of BEML, told reporters on the sidelines of the 17th Global Mining Summit organised by the CII. BEML's earlier exit from the construction equipment space was due to intense competition from imported products. Roy, however, explained that the company is now targeting higher-capacity equipment, such as 20-30 tonne excavators and dumpers,

Ratan Tata stood as a tall mentor and guide for us all: CII President Puri

Ratan Tata was an institution in himself, not just India's leading and noblest business titan, Hinduja Group Chairman GP Hinduja said on Thursday. In his condolence message at the demise of the Chairman Emeritus of Tata Sons, Hinduja said Tata will always live on in the countless Indians whom he touched with his professional and philanthropic deeds. "Ratan Tata was not just India's leading and noblest business titan; he was an institution in himself. Ratan added many enduring chapters to the Tata Legacy by taking it global," he said. Stating that Tata truly represented India's aspirations, Hinduja said, "He will always live on in the countless Indians whom he touched with his professional and philanthropic deeds. Tata (86) died late on Wednesday evening in a Mumbai hospital following age-related health conditions.

Visionary, an inspiration: India Inc mourns demise of nation's Ratan

Ratan Tata was at the helm of the widely known Tata Group for 21 years between 1991 and 2012, and under him, the group's profits rose by 50 times

Private sector capex likely to improve among rising biz confidence: CII

According to survey, over 60% of firms in India see rate cuts this financial year

Industry upbeat on policies as biz confidence index at 2-qtr high: CII

The industry is buoyed by policy continuity as the CII Business Confidence Index soared to a two-quarter high of 68.2 for the July-September period this fiscal, the lobby grouping said in its first survey after the Lok Sabha polls. The 128th round of the CII Business Outlook Survey was conducted in September 2024, covering more than 200 firms of varying sizes across all industry sectors and regions. Economic momentum has gained speed post the general elections, the industry body stated. India's economic growth has held up well despite global challenges, CII said, asserting that the upcoming festive season portends well for fortifying growth prospects further. However, it cautioned that the "uncertainty in the global scenario persists, necessitating a careful watch on the evolving economic conditions". A few niggling business concerns have been highlighted by the respondents in the survey, with protracted geopolitical tensions, spike in global commodity prices and slowing external

India's consumer durables market to be world's 4th largest by 2027: CII

India's consumer durables market is expected to touch a size of Rs 5 lakh crore by FY30 and will become the fourth largest in the world by 2027, industry body CII said on Monday. While the country's products are inching towards global reliability, it is imperative to build a robust quality ecosystem and adopt standardisation in the sector and also export Indian standards globally, said B Thiagarajan, Chairman, CII National Committee on Consumer Electronics and Durables. Speaking at the CII Consumer Electronics & Durables Summit 2024, Thiagarajan, who is also the Chairman and Managing Director, Blue Star Ltd, further said the next decade is expected to create multiple opportunities across the value chain in the sector. "From finished goods as well as development of an indigenous component ecosystem, with the right focus on domestic scale, India's prospects of becoming a global manufacturing powerhouse holds great promise," he asserted. Thiagarajan said, "India is already the ...

Cutting port charges, buying vessels to help boost export ambitions: CII

The government's measures such as cutting certain port charges and purchasing additional container vessels by Shipping Corp will help boost export competitiveness, Chairman of the CII national committee on EXIM Sanjay Budhia said on Friday. He said that these initiatives will significantly benefit the Indian industry by easing export operations. "This move will reduce logistical bottlenecks, enhance cost efficiency for exporters, and improve the competitiveness of Indian goods in global markets," Budhia, who is also Managing Director of Patton Group, said. Industries will experience smoother trade flows, shorter delivery times, and lower costs, fostering growth in exports and making Indian products more attractive to international buyers, he added. The measures will also significantly improve export competitiveness by decreasing the overall costs involved in shipping goods and will help make Indian exports more competitively priced in international markets, Budhia said. "It would

Soon, National Centre of Excellence for Animation on lines of IITs, IIMs

The Union Cabinet on Wednesday approved a proposal to set up the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) on lines of the IITs and IIMs to anchor the animation ecosystem in the country. Aimed at positioning India as a content hub for providing state-of-the-art content thereby enhancing India's soft power globally and attracting foreign investments into the media and entertainment sector, the centre will be set up in Mumbai as a Section 8 Company under the Companies Act, 2013. The Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) representing the industry bodies will be partners with the government in setting up the proposed institute of immersive creators. "AVGC-XR sector today plays an indispensable role in the entire realm of Media and Entertainment, including filmmaking, OTT platforms, gaming, advertisements and several other areas, including health, ..

Electric Mobility Promotion Scheme 2024 to be extended: HD Kumaraswamy

The Electric Mobility Promotion Scheme 2024, that provides incentives to electric two-wheelers and three-wheelers, will be extended till FAME III is finalised, Union Minister HD Kumaraswamy said on Monday. Speaking at the sidelines of the annual session of Automotive Components Manufacturers Association (ACMA), Kumaraswamy, the Minister of Heavy Industries said it will take some more time to finalise the third phase of the 'Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle' (FAME) scheme. "It will be extended for another one or two months," he said when asked if the Electric Mobility Promotion Scheme (EMPS), which is coming to an end this month, would be extended. Asking the industry not to panic, he said "it will be extended till the FAME-III is announced." The EMPS was launched in April and was extended till September 30. It was announced in March this year, to be applicable from April 1 to July 31, with an outlay of Rs 500 crore. Later it was extended till ...

Bimstec members must consider phase-wise FTA for faster implementation: CII

The study also said that Bimstec countries have built a range of bilateral and multilateral free trade agreements

Industry, wealth creators 'primary driving force' in India's growth: PM

Says they should go shoulder-to-shoulder and compete with the Centre to fulfil the dream towards Viksit Bharat

CII T'gana, FTCCI welcome Budget, term it growth oriented, progressive

The CII Telangana on Tuesday termed the Union Budget as growth-oriented and one which gives a big boost for MSMEs, jobs creation and skill development areas. The Federation of Telangana Chambers of Commerce and Industry (FTCCI) welcomed the Union Budget presented by Nirmala Sitharaman and said it is progressive, pro-development budget that attempted to lay a strong foundation for 'Viksit Bharat'. CII Telangana Chairman and Executive Director, Bharat Biotech International Ltd Sai D Prasad said the focus on MSMEs is extensive and the Budget for 2024-25 provides a detailed strategy for each segment of society, aiming to ensure that every Indian shares in the growth ambitions of our country, according to a release by CII Telangana. The nine key priorities outlined in the Budget for a 'Viksit Bharat' offer a holistic framework for an inclusive, resilient, prosperous, environmentally sustainable, and technologically advanced nation, he said. This ambitious plan represents a significant s

GDP growth in FY25 may surpass Economic Survey's prediction: India Inc

Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry, said, "We believe that the growth will be above such conservative estimates as 8 per cent growth is becoming a new normal for India"

62% Indian employees experience work-related burnout: CII-MediBuddy report

The report is based on insights from the employees of close to 1000 companies which are utilising MediBuddy's services

Tier-II,-III cities can contribute to Karnataka's economic growth: CII

The 'Beyond Bengaluru' initiative is expected to empower Tier-II and Tier-III cities by enhancing the ease of doing business, implementing skilling programmes, and promoting energy efficiency

Will drive sustainable growth with focused initiatives in FY25: CII K'taka

The Confederation of Indian Industry (CII) Karnataka on Wednesday said it aims to drive sustainable, competitive and inclusive growth through focused initiatives for 2024-25. CII Karnataka will be taking forward the initiatives for the year 2024-25 aligned to the theme Globally Competitive Karnataka Partnerships for Sustainable and Inclusive Growth, its Chairman N Venu said at a press conference here. The focus will be on policy advocacy, thought leadership, inclusiveness, ecosystem competitiveness, growth, sustainability, global linkages, and international partnerships, he said. Collaborating closely with the government, CII Karnataka aims to create an enabling environment for businesses to thrive, Venu said, adding, key areas include technology and innovation, clean and alternative energy, MSME (Micro, Small, & Medium Enterprises) growth, and emerging sectors such as semiconductors, solar and mobile phones (electronic). According to him, CII will continue to work closely with ..