Page 4 - Ficci

Ficci, corporates hail Budget, say its continuum towards 'Viksit Bharat'

Federation of Indian Chambers of Commerce and Industry (FICCI) President Dr Anish Shah has termed the Intermin Budget 2024-25 as a clear and outcome-based continuum towards Viksit Bharat."The Interim Budget is a clear and outcome-based continuum towards Viksit Bharat. It brings together growth, climate, and social empowerment while maintaining a careful balance between current investment rate and fiscal discipline," said Anish Shah."Enabling States to adopt reforms for Viksit Bharat will seize the momentum created from the Centre towards Amrit Kaal. Focus on Blue Economy, expanding and strengthening the EV ecosystem, domestic tourism, and multi-modal logistics will propel India towards the vision of a developed nation by 2047," he said."The Interim Budget recognizes innovation as a key driver for growth through the introduction of a significant corpus of Rs 1 lakh crore for offering a fifty-year interest-free loan to scale up R & D in sunrise domains. The fiscal performance bodes .

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

Govt finalises draft guidelines to prevent cos from false pro-green claims

The government has finalised draft guidelines to prevent 'greenwashing' or false pro-environment claims being made by companies across sectors, Consumer Affairs Secretary Rohit Kumar Singh said on Thursday. The draft guidelines were finalised after discussions with the committee members in a meeting held on January 10. The committee constituted by the consumer affairs ministry also has member representatives from the industry such as FICCI, CII, Manufacturers Association Information Technology (MAIT), Advertising Standards Council of India (ASCI) and Indian Beauty and Hygiene Association (IBHA). "We have finalised the draft guidelines and will issue the final guidelines after incorporating few suggestions of the industry members," Singh told PTI. The draft guidelines clearly define "Greenwashing" and "Environment claims". It also proposes disclosures that would be required to be made by the company while making green claims, said a statement issued by the ministry. The guidelines

Economics before politics good for the industry, says Ficci president

Shah explains his key focus areas and views on the economy as well as the industry

Need consistent EV policy, no need for company-specific sops: FICCI

The government should not dilute Make in India initiative and follow a consistent policy, Ficci EV Committee Chairperson Sulajja Firodia Motwani said amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. Motwani, the founder and CEO of Kinetic Green which sells battery-operated three-wheelers, scooters, e-cycles, and buggies, also emphasised creating a holistic ecosystem for the growth of the electric vehicle segment. She also batted for the continuation of incentives for buying EVs to sustain the demand for the next few years. Motwani also noted that the industry body is also pushing for the inclusion of electric cars priced up to Rs 20 lakh to get incentives under the third iteration of the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme. "I strongly feel that the Make in India policies that the government has put in place, there should not be any reversal because now people have started ...

E-rupee to cut cost of cross-border remittances to 2-3%, says DEA secy

CBDC was announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman. The RBI began the pilot wholesale CBDC project on November 1, 2022

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Optimism should not cause premature triumphalism: CEA Nageswaran

India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said

Ficci submits proposal for continuation of demand incentives for EVs

Industry body FICCI on Monday said it has submitted its proposal to the Ministry of Heavy Industries for the continuation of the FAME scheme for the next five years, with a review at the end of three years. The time period for the current FAME II scheme is till March 2024. Sudden withdrawal or discontinuation of upfront price incentives will lead to up to 25 per cent price increase of EVs and this may derail EV adoption momentum substantially, also impacting further investments in the EV sector, and disrupting gains made so far, noted FICCI. Purchase incentives on EV vehicles are being continued in markets like Canada, the US, Korea, etc. to achieve their electrification ambitions and India cannot be left behind and miss the EV bus, it argued. "EV penetration in India is only 5 per cent currently. It is imperative to continue FAME scheme to achieve critical mass towards reaching overall 30 per cent EV penetration targets by 2030, stated by Government of India and to also help meet

Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das

'Banks and NBFCs must continue to do stress tests of their books,' RBI Governor Shaktikanata Das said on Wednesday

Indian e-commerce exports should touch $200 billion in next 6-7 years: DGFT

The Director General also mentioned that the DGFT, along with other regulatory agencies, has undertaken numerous steps and initiatives to facilitate e-commerce exports

At next board meeting, Sebi to relax delisting norms: Madhabi Puri Buch

The move is expected to help promoters take their company private if they wish to do so

Manufacturing accelerates in Q2, likely to sustain in FY24: Ficci study

57% respondents have plans for investments and expansion in the next six months

India's healthcare ecosystem undergoing change: KPMG India co-head

KPMG-FICCI study suggests more than 20 new healthcare models emerging in India

SMEs utilising digital technologies for various business functions: Report

Small and Medium enterprises (SMEs) have been utilising digital technology for various functions, with 60 per cent of them using it for human resources, 51 per cent for sales and marketing, and 48 per cent for finance, according to a report by industry body FICCI. The report also revealed that the accounting software (such as Tally/ Vyapar/ Busy, etc.) and business applications like ERP and CRM were reported to be the most used digital tools by SMEs. According to the report, most of the firms have experienced improvements in productivity and reductions in operational costs as a result of incorporating digital technology into their business functions. Approximately 35 per cent of respondents reported a reduction in their annual operational costs by 11-20 per cent as a result of digitalisation, the report said, adding that another 30 per cent of respondents indicated that their annual operational costs had decreased by more than 20 per cent. It said amongst the enterprises that repor

Indian economy projected to grow at 6.3% in FY24, says Ficci Survey

The Consumer Price Index (CPI)-based inflation is expected to remain at 5.5 per cent in FY24, with a range of 5.3 per cent to 5.7 per cent

Banks urge RBI to set up liquidity window for financing of startups

High mortality rates in startups a big worry

Govt considers easier terms for its PPP contracts with private firms

Central and state governments are expanding funding support for projects, but will need the private sector's support

Explore new financing models for skill development: Ficci-KPMG report

The study pointed to emerging trends in skill financing such as private equity and venture capital investment, working capital financing for training partners

It speaks volumes of India's rise: FICCI prez on G20 summit Declaration

Earlier today External Affairs Minister S Jaishankar said that the G20 Leaders's Summit Declaration adopted on Saturday focuses on promoting strong, sustainable, balanced and inclusive growth