Page 6 - Ficci

Govt should work to simply visa process, safety concerns of tourists: Ficci

The government should work on simplifying the visa process by making it more user-friendly and address safety concerns of tourists coming to India to unlock the full potential of inbound tourism, a report said. The report by Nangia Andersen in association with FICCI said inbound tourism to India is expected to grow at a compounded annual growth rate of 12 per cent from 2022 to 2027, driven by rising disposable incomes, growth of the middle class, and increasing awareness of India as a tourist destination. Despite the challenges posed by the pandemic, India received 6.2 million foreign tourists in 2022, with a growth rate of 307.9 per cent as compared to 1.52 million in 2021. Moreover, the travel and tourism sector contributed 9.2 per cent to India's GDP in 2022, and generated 44.6 million jobs. "The future of inbound tourism in India looks promising, provided that the country continues to make efforts on multiple fronts to fully unlock the potential," the report 'Inbound Tourism in

TN needs strategic interventions to attain $1 trn economy by 2030: FICCI

Structured strategic interventions in key focus areas would enable Tamil Nadu to reach its vision of becoming a USD 1 trillion economy by 2030, a study undertaken by industry body FICCI said on Saturday. Tamil Nadu Chief Minister M K Stalin unveiled the report -- "Towards one trillion: Accelerating Tamil Nadu's progress to become a trillion-dollar economy" prepared by the Federation of Indian Chambers of Commerce and Industry here. Accordingly, the state has to focus on some of the key areas under - 'Made in TN', 'Brand TN' and 'Led by TN" in various sectors including manufacturing, automobile, food processing, aerospace and defence, textiles, information technology, among many others. The three strategic areas would enable the state to leverage its current strengths that would harness the competitive advantages to effectively grow its economy, the report said. Tamil Nadu has immense untapped potential in the electric vehicle (EV) space and the focus needed today is to establish an

Cyber security, accidents among top threats for industry: Ficci report

A seminar on 'New Age Risks' was organised by Ficci to discuss and debate the trend of traditional risk parameters and emerging risks that may impact the industry

Sitharaman participates in roundtable on 'Investing in the India Decade'

Finance Minister Nirmala Sitharaman on Tuesday (local time) participated in a roundtable on "Investing in the India Decade" organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and US-India Strategic Partnership Forum (USISP) on the sidelines of the Spring Meetings of the IMF and World Bank.During the roundtable, FM Sitharaman underlined the reality of a global acknowledgement of "New India" and the renewed role India is poised to play in the global economic order, besides India as an investment destination going forward into "Amrit Kaal," said the Ministry of Finance.She emphasised that despite the reality of resetting across the globe and the challenges posed by the COVID-19 Pandemic, India's reform momentum remains unabated.Ambassador of India to the US, Taranjit Singh Sandhu also participated in the roundtable."Investing in the India decade! Pleasure to participate with Finance Minister @nsitharaman for an Executive Roundtable with @USISPF & ..

Investment banker Sudha Shivkumar is now president of Ficci women's wing

As 40th President of FLO, she will focus on empowering women by facilitating an enabling environment that promotes entrepreneurship, industry participation and economic development of women

Four in every five early-stage start-ups in India want to hire more in 2023

15.79 per cent of these start-ups want to keep their headcount unchanged: FICCI - Randstad Start-up Hiring Trends Survey

Office space leasing may fall 25-30% this year in top 6 cities: Report

Leasing of office space across six major cities may fall by 25-30 per cent this calendar year to 35-38 million square feet on subdued demand, according to Colliers India and FICCI. Property consultant Colliers India and industry body FICCI released a report 'Emerging Trends and Opportunities in Office Sector - 2023'. Gross office space leasing rose to 50.3 million square feet in 2022 across six cities from 32.9 million square feet in the previous year on better demand. These six cities are Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai and Pune. The report said that in an optimistic scenario, India's office sector is likely to see about 35-38 million square feet of gross leasing in 2023. The consultant expects that the economic headwinds would ease and not cause a significant dent to overall occupiers' confidence. It expects a significant increase in leasing in the latter half of this year with corporates likely to close leasing decisions that were put on hold temporarily. On

Urban centres to double in 25 years, helping real estate: Civil servant

With increasing urbanisation from 12 to 30 per cent, the next 20 years could see more development than in the last 50 years

India's manufacturing growth to continue in Q4, says Ficci survey

The responses have been drawn from over 400 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 10 trillion

Shailesh Pathak appointed as Ficci secy general, to take charge on March 1

Former bureaucrat Shailesh Pathak has been appointed as the new Secretary General of Ficci, the industry body said on Monday. Pathak will take over the charge on March 1. "In a career spanning 37 years, Pathak has spent time in government as an IAS Officer as well as helmed large companies in the private sector. His extensive international exposure includes an Eisenhower Fellowship in 2000 as an emerging Indian Leader, an EU Visitor Program hosted by the European Commission 2003, and a Chevening scholarship at the University of Oxford in 2011," Ficci stated. Ficci also announced that Arun Chawla, Director General, will superannuate on June 30, 2023, and transition to an advisory role.

DRI seizes over than Rs 1,000 cr of contraband each month, says agency's DG

Statement made at Ficci Cascade event, where it was revealed that World Customs Organization has evolved strategies to tackle illicit trade using AI, ML, blockchain to disrupt the practice

Smuggling can slow march to $40-trillion economy, says FICCI report

The FICCI CASCADE has urged the government to launch a robust international campaign against the menace of smuggling

India's march to $40 trn economy can be seized by smuggling: Report

The magnitude of smuggling and the consequent loss to the country's economy might become a roadblock in India's march towards a USD 40 trillion economy under the government's vision of Amrit Kaal, a report said. There is a need to launch a robust international campaign against the menace of smuggling so that major impediment in the growth path is removed, FICCI Committee Against Smuggling and Counterfeiting Destroying the Economy (CASCADE) said in a report. While last year FICCI CASCADE took the initiative to mark February 11 as Anti-Smuggling Day, it has appealed to the government to highlight the issue of smuggling on the world stage and work with the United Nations to declare the day as 'International Anti-Smuggling Day'. The significance of the need for a high-impact international campaign against smuggling can be understood in the context of the massive loss that smuggling inflicts on the Indian economy, it said. The tax loss to Government of India because of the illicit trade

Govt should scrap windfall profit tax on domestic crude oil: FICCI

The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, a Rs 23,250 per tonne (USD 40 per barrel) windfall profit tax on domestic crude production was levied. The new tax, which was also slapped on the export of petrol, diesel and ATF, is calibrated every fortnight in step with international oil prices. Industry chamber FICCI in its recommendations for the Budget, said such levy is in addition to all other existing levies. "It is recommended that the Special Additional Excise Duty (SAED) on petroleum crude should be removed or if there is a need to continue the levy for some time as an extraordinary measure then the rate be changed to an ad-valo

India can't afford yet more disruptions to supply chains: Ficci President

'What is most unfortunate is that countries are looking to finance their transition to a green economy by taxing others'

Ficci releases roadmap to achieve 600 mn jobs, 6x rise in income by 2047

The roadmap also focuses on doubling female participation in the labour force to 45-50%, cut carbon emissions by 80-100%, and provide access to clean water for all

Counterfeiting, smuggling develop into substantial threat to global economy

Jaspal Singh IPS, Director General of Police, Goa informed that awareness is the first step towards enforcement as the problem of trade in illicit products emanates from the lack of awareness.

Competition Bill: Panel asks for explicit definition of material influence

FICCI in its response to the standing committee had said that the introduction of material influence as proposed would still keep its definition vague and open to interpretation

Pesticide sale via e-com sites welcome but may see more fakes, fear players

A section of players is wary of the proliferation of counterfeit products unless more checks and balances are put in place

Meta pledges $1 mn for extended reality fellowship programme in India

Initiative will help developers contribute to open-source projects on XR technology and lay the foundation for affordable, appropriate India-specific solutions localised to Indic languages