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Industry bodies ask SC to defer release of electoral bond numbers

The apex court said that the industry bodies could not be given any precedence over other applicants and their plea was not listed for the hearing

India, EFTA trade deal to help boost trade, investments: Industry bodies

The free trade agreement between India and the four European nation bloc EFTA will help boost trade and investments in the country in sectors such as engineering, pharma, food processing, and apparel, says the industry. India on Sunday signed a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) under which New Delhi received a USD 100 billion investment commitment from these four European countries. The investment commitment by the companies of the grouping - Switzerland, Norway, Iceland and Liechtenstein - would be executed over a period of 15 years and facilitate creation of one million direct jobs in India. Industrialist and Tirupur Exporters Association President A Sakthivel said that the pact would help promote two-way commerce and help Indian apparel exporters increase their shipments. "The investment commitment will boost domestic manufacturing," Sakthivel said. Industry body CII President R Dinesh said that the "unique" pledge b

MSMEs need to be future ready, foster development, says CII president

CII conference highlights MSMEs' future readiness and role in eastern region's development

India-UAE non-oil trade target of $100 bn by 2030 ambitious: CII President

The target of USD 100 billion non-oil trade between India and the UAE by 2030 is ambitious but achievable as huge business opportunities are there in both the nations for sectors such as textiles, jewellery and pharma, CII President R Dinesh said on Sunday. He said that the free trade agreement between India and the UAE, which was implemented in May 2022, has resulted in a surge in bilateral trade and investments. Dinesh was here to participate in global investors' event 'Investopia' and various bilateral meetings, including with many participants at the WTO (World Trade Organisation) Ministerial Conference. "The target to achieve USD 100 billion in non-oil trade between India and UAE is ambitious but I do believe that it is achievable and recent developments are encouraging in this regard," the CII president told PTI here. He said that the agreement, officially dubbed as comprehensive economic partnership agreement, covers duty-free access to all labour-intensive sectors such as g

Corrosion leads to losses worth $100 billion annually In India: JSL MD

India faces estimated losses of USD 100 billion every year due to corrosion in projects across sectors, industry player Jindal Stainless Ltd (JSL) said on Friday. The losses can be reduced by up to 25 per cent by implementation of corrosion management practices, JSL Managing Director Abhyuday Jindal said. "India loses approximately USD 100 billion to corrosion annually. By strategically implementing corrosion management practices, we can save up to 25 per cent of the corrosion cost across industries," a company statement quoted Jindal as saying. He said a partnership between industry body CII and JSL to create awareness of corrosion and scale up its management activities to cut down losses that occur due to corrosion. Last year, CII and JSL signed a memorandum of understanding which focuses on inviting suggestions on improvements specific to stainless steel use, scaling up corrosion management activities in India and abroad, promoting technology to manage corrosion, and providing .

West Bengal GSDP to grow 10.5% in 2024-25, says minister Shashi Panja

West Bengal's gross state domestic product (GSDP) is likely to grow 10.5 for the financial year 2024-25 over the preceding fiscal, state industry and commerce minister Shashi Panja said on Thursday. The Economic Review for 2023-24 indicated that the state GSDP to grow by 7.65 per cent, outpacing the National average of 7.32 per cent. Speaking at a CII event here, the minister said West Bengal currently holds the position of the fourth-largest economy in the country. "The GSDP of the state for 2024-25 is estimated to grow at 10.5 per cent over the preceding fiscal", she said. Panja said the manufacturing sector of the state grew at 7.8 per cent in 2022-23, surpassing the national average of five per cent. She said that there had been no incidence of strikes since 2010-11, the state has uninterrupted power supply and also serves as a gateway to South East Asia with a substantial consumer base. Additional chief secretary and CMD of West Bengal Industrial Development Corporation (WBI

Interim Budget balances need for equitable growth, says CII president

He welcomed govt's push for infrastructure, capex-led growth

Interim Budget: Come Feb 1, industry bodies stand behind capex boost

Earlier, the Finance Act 2021 had extended the sunset date under the concessional tax regime of Section 115 BAB by only one year to 31 March 2024

WeLead to Credible India: Indian lounges dominate Davos promenade

About a dozen Indian lounges have dominated the main Promenade street of Davos as the snowcapped resort town readies for the five-day World Economic Forum Annual Meeting beginning Monday. Adorning the event are WeLead Lounge - set up to showcase women leadership, India Engagement Centre, pavilions by Maharashtra, Tamil Nadu, Telangana and Karnataka, and IT majors like Wipro, Infosys, TCS and HCLTech showcasing power of AI and technology. And this time, in addition to Indian tea, coffee, 'samosas' and 'kachoris', there will also be Indian liquor flying off the shelves during 'Spirit of India Hour' on two evenings at a few bars, restaurants and lounges. In all, 60-70 lounges and pavilions have been set up by governments and corporates from across the world, of which about a dozen are Indian ones. Indian participation is also significant with three union ministers, as many chief ministers and a large number of officials and CEOs expected to speak over the next five days. Apex industr

IIP growth at 8-month low in November, retail inflation rises in December

Retail inflation in December, on the other hand, rose to a four-month high because of a seasonal spike in the prices of vegetables, fruits, and pulses that the Reserve Bank of India has already factor

World needs India; Indian biz leading in investments in social causes: UN

The world needs India as the businesses in the country have been leading in terms of investing in social causes, a senior UN official said on Thursday and stressed that business is the key driver that will deliver the sustainable development goals. The United Nations Resident Coordinator in India Shombi Sharp also said that Corporate Social Responsibility (CSR) is indispensable in India's journey, where businesses are at the forefront in the efforts of the country to become a USD 5 trillion economy. "The world needs business and the world needs India and as India leads, the world is following," he said at a conference on CSR in the national capital. He noted that India has been leading the world in CSR, especially with its recent leadership during the COP28 summit. Under the companies law, certain classes of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities in a particular financial year. Beside

Industry bodies eye access to the e-shram portal to fill talent gap

Industry has asked for access to the e-Shram database which will help us enable skilling and employability of the unorganised workforce in the country

Tamil Nadu campaign to celebrate state's business titans, industrial legacy

Corporate leaders to speak about their companies in campaign curated by CII

CII youth wing to hold national summit in Chennai on December 21, 22

The 20th edition of the summit will focus on youth leadership, nation building, and thought leadership-pillars that define Yi's commitment to shaping India's future

India's economy to grow at 6.8% in FY24, accelerate to 7% in FY25: CII

Industry chamber CII expects the country's economy to grow at 6.8 per cent in the current fiscal and accelerate to 7 per cent in 2024-25, driven by the government's continued focus on infrastructure development and promotion of ease of doing business. In an interview with PTI, CII President R Dinesh, who is also the Executive Vice Chairman of TVS Supply Chain Solutions, said even on a conservative basis, the expected gross domestic product (GDP) growth of 6.8 per cent will be more than the 6.5-6.7 per cent estimated earlier by the industry body. Sharing growth projections, the CII President said: "In the beginning, we had said 6.5-6.7 per cent. Now, actually, we are saying it is going to be 6.8 per cent for this year, and we are looking at 7 per cent for next year. Obviously, the first half has given the comfort for 6.8 per cent. In fact, I would say it is a conservative number because if you look at what has happened in the first half, we are being conservative here". On the recent

Medtech sector needs to become $200 bn industry by 2030: Pharma secy

India is currently the third-largest pharmaceutical industry in the world by volume, with a market size of around $50 billion, according to the Ministry of Chemicals and Fertilisers

Market regulator Sebi slams AIF industry for circumvention of regulations

Sebi official did not disclose how widespread such practices are or whether the regulator has already begun enforcement action against them

Business confidence index at three-quarter high in second quarter: CII

The rural economy has been on an upswing, as evident from the surge in fast-moving consumer goods (FMCG) sales and agricultural incomes in Q1 FY24

CII business confidence index rises to 67.1 in second quarter of FY24

CII's business confidence index improved to 67.1 in the July-September quarter of FY24, reflecting robust macro fundamentals of India's economy despite global headwinds, the industry body said on Sunday. The index showed a reading of 66.1 in the previous quarter (April-June FY24) and 62.2 in the same quarter last year. "The reading reaffirms the sustained positive momentum seen in host of high frequency indicators such as GST collection, air & rail passenger traffic, PMIs, among others in the second quarter," said the Confederation of Indian Industry (CII). The buoyancy seen in rural demand in the recent period, too, was mirrored by the results of the survey which established that nearly half of the respondents (52 per cent) anticipate an improvement in rural demand in the first half of the current fiscal, it added. A majority of the respondents (66 per cent) feel that the Indian economy will grow in the range of 6-7 per cent in FY24, broadly in line with the forecast of RBI and ..

Trade pacts with G20 member countries can help India boost exports: CII

Negotiating trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come, Chairman, CII national committee on EXIM, Sanjay Budhia, said on Wednesday. He said that tapping into opportunities in G20 countries is crucial for India's economic growth and global influence. India should diversify its export markets within the G20 countries, Budhia, who is also Managing Director of Patton Group, said. He added that while traditional partners like the United States and the European Union remain important, exploring emerging markets within the G20, such as Brazil, South Africa, Indonesia, and Mexico, can open up new avenues for Indian goods and services. "Negotiating and implementing trade agreements and bilateral deals with G20 member countries may be helpful to tap potential between India and G20 countries. Such agreements can reduce trade barriers, tariffs, and regulatory