Page 3 - Cii

CII bats for central oversight body to reform India's tribunal system

Establishing a centralised oversight institution for tribunals would significantly enhance India's justice delivery system, making it more responsive and efficient, industry body CII said on Sunday. This move would also boost regulatory credibility, improve ease of doing business, and increase investor confidence, Confederation of Indian Industry (CII) added. To provide legislative backing to this exercise, suitable amendments may be introduced in the Tribunals Reforms Act, 2021, defining the mandate, structure, scope, and responsibilities, according to CII. Such a central body could undertake functions like performance monitoring, data tracking, coordination with the Search-Cum-Selection Committees, capacity building, and independent grievance redressal, it suggested. The industry lobby argued that the administrative control of tribunals is currently fragmented across various ministries and departments, leading to a lack of standardisation and functional inconsistencies. Enhancin

CII seeks GST rationalisation, lower import duties for MCE sector

A CII-Kearney report urges changes to GST and import duties to improve cost competitiveness and transform India's MCE sector into a globally competitive industry

Indian economy projected to grow at 6.5% in FY26, says CII president

India's GDP is projected to grow at 6.5 per cent in the current fiscal and the country's economy is resilient enough to overcome the short-term impact of geopolitical issues, CII president Sanjiv Puri has said. In an interview with PTI, he asserted that the country must pursue bilateral trade pacts with key trading partners to protect national interests in the backdrop of increasing trade barriers. Highlighting that the private investment is picking up across various sectors like energy, transportation, metals, chemicals and hospitality, Puri said the current geopolitical uncertainties could lead to "some cautiousness" in investment. On the economic growth projection for India, he said, "We are looking at 6.5 per cent. We believe this number can be achieved fundamentally, because the fact is, we are starting with a reasonably good foundation, robust economic foundation". Elaborating on the reasons, he said, "In the recent past, interest rates have eased. Inflation is becoming benig

India right to act against Pak-based terrorists, industry backs govt: CII

India has done the right thing to punish Pakistan-based terrorists who killed innocent citizens and the industry stands firmly behind the government, committed to doing what is required to ensure that the country's economic progress sustains, according to CII President Sanjiv Puri. The military conflict between India and Pakistan in the aftermath of the killing of 26 people in Pahalgam last month is a moment to "rededicate ourselves and re-energise ourselves towards nation building", including enhancing India's defence manufacturing capabilities and capacities, Puri told PTI in an interview. "What the government is doing is absolutely the right thing to do. The idea is really aligned to what the government has always said 'to punish those responsible for terrorism' and nothing can justify killing of innocent citizens. So those people responsible must be punished," Puri, who is also the MD of ITC, said. Puri was responding to a query on what would the industry like the government to

CII extends unequivocal support to govt, Armed Forces on Operation Sindoor

Extending unequivocal support to the government and Armed Forces on Operation Sindoor, industry body CII on Friday said India's response to the reprehensible terrorist attack at Pahalgam is a reminder that the country will protect its 140 crore citizens. Emphasising that national peace and security is the "bedrock of sustainable economic growth", the Confederation of Indian Industry (CII) said the "swift counteraction" led by Prime Minister Narendra Modi reassures businesses and investors that India remains a resilient and secure destination for economic activity. India on Wednesday carried out strikes on nine sites in Pakistan-occupied Kashmir and Pakistan, marking its deepest strikes inside Pakistan in decades in retaliation for a deadly terrorist attack two weeks before. Thereafter, Pakistan attempted to unleash drones and missiles at Indian military targets in more than a dozen cities and towns, many of them home to air force bases. The Indian Army said the attacks were ...

CII releases guidebook on adoption, governance of AI for board leaders

Industry body CII has released a 'guidebook on effective adoption and governance of AI for board leaders', amid the rising use of Artificial Intelligence in businesses and the essential role of board engagement in supporting effective and meaningful AI governance. AI requires careful governance to fully harness its potential while mitigating the risks and challenges it presents, CII said in a release, adding that the guidebook aims to serve as an effective tool for the board of directors to navigate the intricate landscape of AI governance and drive better business outcomes. It encompasses basic concepts related to AI, its use in various business functions, criticality of AI governance and its framework, risks and challenges and its governance and liabilities of directors associated with deployment of AI in businesses. It outlines the essential role of board engagement in supporting effective and meaningful AI governance, and underlines the importance of aligning strategies with ...

Stronger judicial data grid can boost investments, says CII report

The NJDG was launched in 2015 under the e-Courts Mission Mode Project to track, manage and reduce case pendency across India's judicial system

Rank states based on case-clearance rate for faster dispute resolution: CII

CII on Sunday called for "urgent reforms" to address the burgeoning pendency of cases across India, suggesting that the National Judicial Data Grid could report real-time automated rankings of states on the basis of case-clearance rate to encourage faster dispute resolution. With over 5 crore cases pending across various courts and case disposal rates lagging behind the new admissions in many jurisdictions, urgent reforms are required to address the burgeoning pendency of cases, the Confederation of Indian Industry (CII) stated. It termed the National Judicial Data Grid (NJDG) an an important initiative towards reducing pendency by enabling data-driven policy interventions. With a view to fostering competitive spirit among states, NJDG could report real-time automated rankings of states based on the data collected on grid, the industry body said. Ranking could subsequently be considered at more disaggregated levels, like for commercial and non-commercial cases, separately. "To beg

Thomas John Muthoot elected CII South chairman, Ravichandran as VC

The Chairman of Kerala-based diversified conglomerate Muthoot Pappachan Group, Thomas John Muthoot, has been elected as the Chairman of Confederation of the Indian Industry (CII), Southern Region for the year 2025-26. The President of Danfoss India Region, Ravichandran Purushothaman, has been elected Vice Chairman, CII said. Danfoss India, a subsidiary of Denmark-based Danfoss, is a leader in heating, ventilation, air-conditioning and compressors. Muthoot heads the Muthoot Pappachan Group, which has a presence in various sectors, including financial services, hospitality, real estate, automotive and power generation, the CII said in a release on Saturday. He is also the Chairman and Managing Director of Muthoot Fincorp, which has a wide network of 3,800 branches, serving over 1.25 lakh customers. Muthoot has been instrumental in driving digital transformation within the group, integrating financial technology solutions, among others. Meanwhile, CII Southern Region Vice-Chairman ..

FM Nirmala Sitharaman to launch PM Internship Scheme app on Monday

The FM will also launch the first facilitation centre for the Internship Scheme being set up in Kolkata by the Ministry of Corporate Affairs in collaboration with the Confederation of Indian Industry

Income Tax Bill: Lok Sabha panel weighs expanding 'accountant' definition

The Institute of Chartered Accountants of India (ICAI), which briefed the panel at its first meeting on March 6, has opposed any changes to the definition

EU Commissioners, EAM, Piyush Goyal, others attend CII dinner reception

The European Union (EU) College of Commissioners, Union Minister of Commerce and Industry Piyush Goyal, External Affairs Minister S Jaishankar, Union Minister of State for Commerce and Industry Jitin Prasada, Union Minister of Railways Ashwini Vaishnaw, and Foreign Secretary Vikram Misri attended a dinner reception hosted by the Confederation of Indian Industry (CII) on Friday.During the dinner reception, the leaders were seen engaged in conversation. The dinner reception was organised as the European Commission President Ursula von der Leyen was on a two-day visit to India from February 27-28.Earlier on Friday, Union Minister of Commerce & Industry Piyush Goyal held a candid and insightful discussion with EU Trade Commissioner Maros Sefcovic in Delhi. The meeting focused on the progress of the India- EU Free Trade Agreement (FTA) and the Trade and Technology Council (TTC).In a social media post, Goyal stated, "Had a candid and insightful discussion with EU Trade Commissioner ...

CII's legal committee pushes for appellate body for financial sector

The legal committee wants all financial regulators, including the RBI, to be under the ambit of the new body

India's developmental model could be template for others: CEA Nageswaran

India's developmental experiences could be a template for other countries, Chief Economic Adviser to the government Dr V Anantha Nageswaran told a seminar of leading South African and Indian expatriate business leaders here. Nageswaran was the keynote speaker at the seminar organised jointly on Tuesday by the Indian High Commission, the Consulate General in Johannesburg and the CII India Business Forum, which represents over 150 Indian companies invested in South Africa. India is a country with the largest population trying to transform itself into a developed nation within the context of a democratic polity and also within the context of a federal governance structure. Therefore, India's experiences will be very useful templates for many countries, including (South Africa), Nageswaran said. India will forever be a land of excitement, opportunities and a land where many public policy paradigms are created for other countries to learn from as we journey from three trillion to 13 ...

CII announces plan to make India global logistics hub, generate employment

Expanding sector is to expected create 15-17 mn jobs in the country by 2030, it says; Initiative will attract investments and drive economic growth

Madhya Pradesh has potential to become $2.1 trn economy by 2047-48: Report

Madhya Pradesh can potentially increase the size of its economy by 18 times to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, according to a report by the industry body CII. In order to realise its potential, the state needs to focus on boosting the manufacturing industry and industrial expansion must take center stage, CII said. According to the report, "Envisioning Madhya Pradesh Economy@2047" the gross state domestic product (GSDP) of the state can rise to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, growing at a CAGR of 8.6 per cent, from the current USD 164.7 billion (Rs 13.6 lakh crore). With a proactive state government dedicated to boosting investment and driving growth, Madhya Pradesh is well-placed to increase its contribution to India's GDP from the current 4.6 per cent to 6.0 per cent by 2047-48, CII Director General, Chandrajit Banerjee said. As per the report, for Madhya Pradesh to achieve its ambitious growth targets, manufacturing and industrial expansion

Enhancing efficiency, customer experience: Why companies adopt AI

The flagship survey report was unveiled at the AI India Global Exhibition and Summit

PM Modi's US visit to strengthen bilateral trade, investment ties: CII

Prime Minister Narendra Modi's visit to the US is a major milestone that will strengthen bilateral trade, investment, defence, and technology partnerships, industry body CII said on Saturday. Welcoming the recently concluded visit, the Confederation of Indian Industry (CII) said it eyes stronger trade and tech ties. CII noted that the wide-ranging joint statement and initiatives announced during the visit under the framework of US-India COMPACT have set a clear forward-looking agenda for India-US relations, creating new opportunities for Indian industry and economic growth. "A new chapter has been added to the India-US partnership, enabling much stronger collaboration in strategic sectors including defence, energy, semiconductors, space and emerging technologies like artificial intelligence (AI), quantum computing, advanced materials, and biotechnology. "This creates an environment for the private sector on both sides to flourish in true partnership. The visit is especially ...

CM Mamata meets representatives of FICCI, CII, biz tycoons ahead of BGBS

West Bengal Chief Minister Mamata Banerjee attended a meeting with representatives from FICCI, CII, and industry leaders on Wednesday, ahead of the 8th edition of the two-day Bengal Global Business Summit (BGBS), which begins this afternoon. The two-day summit, set to take place from February 5 in Kolkata, is a key event for promoting investment in the state. Banerjee shared on Facebook, "Our much-awaited Bengal Global Business Summit is having its preludes in the Special Meeting of the National Executive Committees of the Apex Chambers of Commerce and Industry, CII and FICCI. I joined them briefly to encourage investments in West Bengal from our national industry magnates. Bengal the destination!!." The chief minister on Tuesday night in a social media post had also mentioned that over 5,000 delegates, including representatives from 40 countries, have already started arriving in Kolkata. Additionally, 20 ambassadors and high commissioners are attending to represent their respectiv

Budget marks pivotal moment in economic trajectory: Kerala biz community

The Union Budget proposals presented by Finance Minister Nirmala Sitharaman on Saturday received a positive response from the business community in Kerala. Yusuff Ali M A, Chairman of Lulu Group said the buget marks a pivotal moment in India's economic trajectory, delivering a much-needed boost to the middle class while advancing the country's goal of becoming a 5 trillion USD economy. Key measures, such as income tax reductionsincluding a no-tax threshold up to Rs 12 lakhand expanded exemptions and incentives for startups and MSMEs, will directly benefit individual incomes and entrepreneurial ventures, he said in a statement here. This budget clearly empowers the middle class and fosters a vibrant, self-reliant economy, he added. The direction of the budget is towards the goal of Vikasit Bharat, Confederation of Indian Industry (CII) Kerala Chairman Vinod Manjila said. "A very positive budget that takes care of the diverse sectors of the economy including agriculture, middle clas