FICCI seeks separate export promotion council for auto sector

October 13th, 2009 NOIDA - Business worth Rs.750 crore was generated at the four-day handicrafts exposition near Greater Noida that ended Tuesday, according to the Export Promotion Council for Handicrafts (EPCH). "Despite recessionary trend, the footfall of more overseas buyers and orders worth over Rs.750 crore have been booked," said EPCH chairman Raj Kumar Malhotra at the conclusion of the Indian Handicrafts and Gifts Fair (IHGF) Autumn 2009.

September 20th, 2009 NEW DELHI - Companies in the telecom and auto sectors have witnessed robust growth in turnover despite not increasing their advertisement budgets, according to the Associated Chambers of Commerce and Industry (Assocam), an industry lobby. In a study titled "Cost-Benefit Analysis of Advertisement Campaigns", Assocham said: "The amount spent on the marketing expenses in proportion to the sales has undergone a substantial decline in 2008-09." However, it added that Indian telecom and auto companies, "despite spending less on their advertisement and promotion campaigns, were able to increase their sales volume significantly".

September 10th, 2009 NEW DELHI - The Union Cabinet on Thursday approved the formation of a company 'Invest India' for the promotion of foreign investments under the Ministry of Commerce and Industry. Announcing the formation of 'Invest India,' Commerce and Industry Minister Anand Sharma said "The company will be a joint venture between the Government of India, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the State Governments will be responsible for promoting foreign investments into the country in a more focused, comprehensive and structured manner." The new company is expected to assist the government in its efforts towards projecting India as an attractive investment destination for foreign investors.

September 2nd, 2009 MUMBAI - Union Heavy Industries Minister Vilasrao Deshmukh Thursday said the government is examining setting up of a separate financing arm for auto components manufacturers. We are looking to set up a separate financing arm for auto components manufacturers, Deshmukh told reporters at the sidelines of the annual conference of Automotive Components Manufacturers Association (ACMA).

August 31st, 2009 NEW YORK - India's exports to the US can increase by $1.5-billion if it made an effort to bail out the ailing textiles sector, according to Textiles Minister Dayanidhi Maran, now on an official visit to the US. "My visit will help exporters grab a large chunk of the market, which is expected to rebound by 2010 and 2011, Maran said Sunday while inaugurating the India Pavilion at "Sourcing Magic" fair in Las Vegas.

July 22nd, 2009 TOKYO - With a view to finding new markets for the textile industry and reducing dependence on the US and the European Union (EU), India has begun promoting itself in Japan, with Textiles Minister Dayanidhi Maran inaugurating the Indian pavilion at the Mega Apparel and Textiles Show here Wednesday. The initiative is part of the government's policy to push Indian textiles exports to South East Asia, especially Japan.

July 21st, 2009 NEW DELHI - Despite high interest cost and falling exports, India's manufacturing sector will recover in the second quarter this fiscal, says a report by the Federation of Indian Chambers of Commerce and Industry (FICCI). "Indian manufacturing sector is likely to witness more than a moderate growth with eight out of the 10 sectors surveyed reporting not only positive but also high growth for July-September 2009 vis-a-vis same quarter last year," said the FICCI report.

June 17th, 2009 NEW DELHI - Federation of Indian Chamber of Commerce and Industry (FICCI) has called for cheap export credit and income tax exemption for export earnings for Indias garments exporters. At a meeting with Textiles Minister Dayanidhi Maran Wednesday, FICCI advocated credit for exporters at an interest rate of 7 percent, 100 percent exemption on income tax for export earnings for three years, initiation of skill development programmes, and reimbursement of duties to exporters.

April 5th, 2009 NEW DELHI - Amid falling overseas demand, India's export sector is likely to post negative or flat growth in the current fiscal, said an industry lobby Sunday. According to a survey conducted by the Federation of Indian Chamber of Commerce and Industry (FICCI), about 61 percent exporters feel the export sector would not pick up in 2009-10 as the world economy continues to deteriorate.

March 8th, 2009 NEW DELHI - Growth in the manufacturing sector is expected to pick up in the first quarter of 2009-10 on the back of increasing demand in some segments, said an industry lobby survey. The manufacturing survey by the Federation of Indian Chambers of Commerce and Industry (FICCI) said six out of the 12 sectors it covered will report higher growth rate in the April-June quarter over the year-ago period, pushing the entire manufacturing sector to positive growth.

February 27th, 2009 NEW DELHI - The interim trade policy announced by Commerce and Industry Minister Kamal Nath Thursday evoked mixes response from India Inc, which found the measures to ease procedural hurdles as 'necessary', but said the export target was 'really challenging'. 'The best part of the announcement is that the government has eased certain procedural hurdles.

January 30th, 2009 NEW DELHI - Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) Saturday urged the government to offer more incentives to the domestic auto industry and encourage foreign investment in the sector. In a study on 'Automotive Policies And Incentives in Developing Countries', the FICCI said the automotive industry in several developing countries were growing fast with the assistance of their respective governments.

January 19th, 2009 NEW DELHI - Even as the Rs.513-billion Indian entertainment and media industry is trying to recover from the after-effects of the global economic meltdown, international audit firm KPMG has predicted a double-digit growth rate for it this year. The firm, which has been roped in as the knowledge partner for industry forum Ficci, will come out with its annual report in Ficci Frames, the global convention in Asia on the business of entertainment to be held in Mumbai Feb 17-19.

January 6th, 2009 NEW DELHI - The apparel sector will lose about one million (10 lakh) jobs by March because of slackening demand in the US and Europe and increasing input costs, the apex body of the garment export sector said Wednesday. 'Nearly five lakh jobs have been already lost since July 2008 because of the global recession and the sector will lose another five lakh jobs by March 2009,' Rakesh Vaid, chairman of the Apparel Export Promotion Council (AEPC), told reporters.

December 25th, 2008 SURAT - More than 100,000 people have been laid off in recent months by the gems and jewellery industry in India because of the global slowdown in demand and lack of adequate credit, an industry leader said in this hub for the sector in Gujarat. 'This is for the first time in four decades that the diamond industry is facing such a severe liquidity crunch,' said Mehul Choksi, director of the leading gems and jewellery manufacturer and exporter Gitanjali Group.