Page 8 - Cii

FMCG, auto data shows rural demand is coming back: CII President R Dinesh

We are projecting FY24 GDP growth at 6.5-6.7 per cent. We believe 6.5 per cent will be achievable, even in a slightly negative scenario. And 6.7 per cent is our belief, let me put it that way

Private sector investment set to witness significant increase: R Dinesh

Private sector investment is set to witness a significant increase, as capacity utilisation in several key sectors has already crossed 80 per cent and economic growth is estimated to be 6.7 per cent in the current financial year, newly elected CII President R Dinesh said on Sunday. He also exuded confidence that the Reserve Bank of India (RBI) will maintain status quo on interest rate in the next bi-monthly monetary policy to be announced later this week. On why the government unsuccessfully keeps on nudging private companies to increase investment, the CII president told PTI that the period between 2016 to 2019, was not good for growth and in 2020 there was COVID. "We have circumstances beyond our control which hampered demand We did come out of the COVID much faster," he said, adding there are signs of improvement. Citing the CII's annual CEOs survey, he said all sectors have crossed 75 per cent capacity utilisation and the figure was 80 per cent in key sectors like cement, stee

RBI should continue with pause, change its stance to neutral: CII President

Says Indian economy likely to grow at 6.5-6.7% in FY24

India's economy likely to grow 6.5-6.7% in FY24: CII president R Dinesh

Industry body CII on Thursday said India's economy is expected to grow in the range of 6.5-6.7 per cent in the current financial year supported by strong domestic drivers and robust capex momentum of the government. India's Gross Domestic Product (GDP) grew by 6.1 per cent in the March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent. The growth has propelled the country's economy to USD 3.3 trillion, setting the stage for achieving the USD 5 trillion target in the next few years. Addressing the media, newly elected President of Confederation of Indian Industry (CII) R Dinesh said India's GDP growth is expected to leapfrog to 7.8 per cent in the next decade (FY22-31) from 6.6 per cent previously recorded. "We expect GDP growth in a range of 6.5-6.7 per cent in 2023-24, supported by strong domestic drivers and robust capex momentum of the government," Dinesh said. He said the government's structural reform agenda has enabled the country to become the highest growi

TVS Supply Chain chief R Dinesh elected CII president, Rajiv Memani is VP

Veteran entrepreneur is winner of several business awards, has assisted industry group for many years

LIVE: 'Blatant affront to democratic ethos,' NDA slams Oppn's decision

Catch live updates from across the globe here

Forex reserves at comfortable position to meet requirements: Piyush Goyal

India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said on Wednesday. India's forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, according to the Reserve Bank of India. The minister also said that the government efforts have helped in managing inflation and "I am happy that it has been respected and recognised by the RBI (as) they have also taken a pause on the interest rates during the last MPC (Monetary Policy Committee) meeting". On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements." The minister was speaking at the annual session of industry body CII here. He added that no o

Ease of doing business improved; still long way to go in many areas: CII

The ease of doing business in the country has improved in the last 5 to 10 years but there is a long way to go in many areas, the Confederation of Indian industry (CII) said on Friday. Addressing the media after a meeting of its members from the four western states of Maharashtra, Gujarat, Madhya Pradesh and Goa, CII Western Region Chairman and Tata Power MD and CEO Praveer Sinha said the industry feels there is a lot of growth happening and there is a lot of opportunity in the country. In a poll of CEOs conducted by it, 76 per cent of the respondents were of the view that the Indian economy is expected to remain resilient in the backdrop of global geo-political headwinds. "The ease of doing business has improved but if you ask me if it is 100 per cent, it is not 100 per cent. It is still some 55-60 per cent. That means there are opportunities of improvement," Sinha said. He said that though the ease of doing business is better than it was 5 or 10 years back, "it is still a long wa

Need to address funding and training challenges in R&D sector: Official

A senior government official on Tuesday made a strong pitch for collective responsibility to address the challenges of funding and inadequate training in the research and development sector. Addressing the CII Global Science, Innovation and Research Summit here, Parvinder Maini, Scientific Secretary at the Office of the Principal Scientific Adviser to the Government, said India was undergoing tremendous advancement and has been showing incredible growth in areas from missiles, AI, superconductors to Covid vaccines. Maini said it was imperative to take collective responsibility to amend the challenges of funding, inadequate training and awareness through a strategic approach for the R&D ecosystem to reach greater heights. She said every country has its own strengths, therefore each and every country needs to share its technological strengths with the world for co-existence. Maini said there was an increasing realisation of technological partnerships in industry and academia with a .

South Indian films outshine others in 2022, may maintain trend in 2023: CII

Movies in Telugu, Tamil, Kannada and Malayalam accounted for 54% of all releases and Rs 7,800 cr, or 52%, of the national film revenue of Rs 15,000 cr

45% of property seekers in NCR want to buy 3BHK homes: CII-Anarock report

58% of Indians want to buy properties priced between Rs 40 lakh to Rs 1.5 crore

Shankar Vanavarayar becomes chairman of CII Tamil Nadu State Council

He was also the National Chairman of CII's Young Indians in 2011-2012

New payment mechanism of railways: 30 days max, else govt will pay interest

The step is expected to eliminate the "biggest risk" faced by contractors, meaning that railways will ensure that payments are made within the stipulated time, said the railway minister at an event

We hope RBI will opt for a pause on rate hikes: CII president Sanjiv Bajaj

Inflation is coming under control. You've got all the right tailwinds for growth. And so we hope that RBI will take a pause on rate hikes, says Sanjiv Bajaj, President, CII

Mines ministry in process of identifying mineral blocks in sea: Secretary

The government is in the process of identifying mineral blocks like nickel in the sea and would gradually put them on sale, mines secretary Vivek Bharadwaj said on Friday. The mines ministry is amending the Offshore Areas Mineral (Development and Regulation) Act, 2002 and has sought the stakeholders' views on the same. "Because the critical minerals are becoming even more critical, there is this thought that why are we not mining in the oceans...Unfortunately we have not been able to mine the oceans. Now we are amending the Act. It is in public domain, open for comments for the industry, the stakeholders," the mines secretary said during Metal & Metallurgy Expo-2023 organised by CII. The ministry, he said, is in the process of identifying these blocks in the sea and as there are no stakes in there, the auction will be done by the government of India. "That will also be a huge opportunity for industry, a totally new area of operations," he explained. Critical minerals such as ...

Prez Murmu inaugurates International Engineering and Technology Fair 2023

She said India is on a mission to expand its global engagement taking advantage of its excellent manufacturing experience, high-quality talent and cutting-edge advanced technology attainments

Indian realty market to reach Rs 13 trillion by 2023: CII Delhi chairman

The conference stressed upon the critical role technology will play in this sector in improving processes in the infrastructure - construction sector

Is tilapia the next big idea for boosting India's aquaculture sector?

Rising demand, export potential, ease of production have turned the focus on the humble tilapia

Biggest challenge is to get Centre, states work together: CII president

Bajaj said even in states where it is the same party ruling as the Centre, one doesn't see the same level of focus, energy and interest

Tata's Chandrasekaran to head Business 20 India; CII to be Secretariat

'As India commences its leadership of B20 amid multiple global developments and transformations, the participation of businesses in global economic decision-making has never been more critical'