Page 5 - Cii

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 ..

CII, Nasscom to provide digital skilling to 100,000 non-IT youth in 2 years

CII said that seven target sectors have been identified to begin with

CII says reducing dependence on China 'critical' for electronics industry

It recommended the government to come up with revised electronic components production-linked incentive schemes with higher incentives in the range of 35-40 per cent to reduce dependence on imports

Electronic components demand to rise 5 times to $240 bn by 2030: CII

Demand for electronic components and sub-assemblies is estimated to grow over five-fold to USD 240 billion by 2030, including includes some of the key parts like motherboard, lithium ion batteries, camera module etc that are largely imported, a CII report released on Sunday said. The report recommends the government to come up with revised electronic components production-linked incentive schemes with higher incentives in the range of 35-40 per cent to reduce dependence on imports. "The demand for components and sub-assemblies stood at USD 45.5 billion to support USD 102 billion worth of electronics production in 2023. This demand is expected to scale to USD 240 billion to support the USD 500 billion worth electronics production by 2030. Priority components and sub-assemblies, including PCBAs, are projected to grow at a robust CAGR of 30 per cent, reaching USD 139 billion by 2030," the report said. The report identifies components and sub-assemblies of batteries (lithium-ion), camer

Nitin Gadkari asks industries to establish skill development institutes

Union Minister of Road Transport and Highways, Nitin Gadkari, on Saturday urged industries to initiate skill development institutes to create a skilled and industry-ready workforce. Addressing the CII-Industry Academia Conclave in Nagpur, Gadkari emphasised the need for collaboration between industry and academia to develop skilled manpower. "Coordination between industry and academia is essential for the skill development of students and enhancing manpower," he stated. Gadkari suggested that industries should progressively establish their own skill development centres, as well as engineering and polytechnic colleges, to provide both knowledge and practical experience, thereby making students more skilful. He acknowledged the issue of skilled manpower shortage in industries while educated individuals remain unemployed, attributing this to a lack of coordination and communication between educational institutions and the industry. "I am of the opinion that step by step, deemed ...

Bangladesh PM Sheikh Hasina invites Indian businesses to invest in nation

Bangladesh Prime Minister Sheikh Hasina has invited Indian businesses to invest in the country's special economic zones, highlighting the huge potential for bilateral economic cooperation. Addressing Confederation of Indian Industry (CII) members on Friday evening, Hasina said both India and Bangladesh should work together to do business. "All over India, there is a huge market so both the countries can work jointly and share our experiences. There is a good opportunity to do business," Hasina said, stressing that doing business is a key part of the bilateral relationship. She added that high importance is being given to working with India to fulfil the needs of the people. The prime minister mentioned that she wanted to make the economy of Bangladesh stronger and more sustainable. She also stated that Bangladesh will work on bigger ports, waterways, rail and road connectivity. Sanjiv Puri, President, CII said Bangladesh is India's land bridge to the vibrant regions of Southeast A

Maha should improve logistics, power supply for industrial growth: CII

Logistics infrastructure and cost of power supply have scope of improvement in Maharashtra for industrial growth, CII Vice President R Mukundan said on Saturday. Mukundan inaugurated the new office of CII Marathwada Zone chaired by Sunil Kirdak. "Last-mile connectivity is important for every industry to run their business smoothly. Improvement in logistics in terms of national and state highways should take place to keep investments coming. Where industry is less, we need more connectivity there," he told reporters. Efforts should be made to make the western region more competitive in terms of power supply and cost of power. There is a need to reduce the cost of power, he added. These two issues have been addressed well but there is a scope of improvement, Mukundan noted. On prospects of exports, he said, "If we need to export from here, we have to increase the number of airports and port facilities also". CII western region deputy chairman Rishi Kumar Bagla said, some airlines h