Manufacturing sector to recover in second quarter: FICCIJuly 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.
Indian business leaders ask Bangladesh to boost bilateral economic tiesJuly 20th, 2009 DHAKA - An Indian trade delegation visiting Dhaka has urged Bangladesh to take steps to boost bilateral trade ties between the two countries. The appeal came at a seminar on "Bangladesh-India Economic Relations" at Hotel Sonargaon in Dhaka, reports the Daily Star.
US Ex-Im Bank, FICCI to expand trade tiesJune 24th, 2009 WASHINGTON - The Export-Import Bank of the United States (Ex-Im Bank) and the Federation of Indian Chambers of Commerce and Industry (FICCI) will work together to expand the trade relationship between the two countries. Ex-Im Bank Chairman and President Fred P.
FICCI proposes five-point agenda for US-India tiesJune 24th, 2009 WASHINGTON - The Federation of Indian Chambers of Commerce and Industry (FICCI) has proposed a five point agenda topped by "deepening of India-US nuclear cooperation" to take their bilateral relations to the next level. "We want the US to engage India across fronts and not just business to business," FICCI president Harsh Pati Singhania said Tuesday proposing the leading Indian trade body's agenda at a seminar on "US-India relations: The Road Ahead" at the East-West Centre here.
US job visa policy could affect Indian investment: StudyJune 18th, 2009 NEW DELHI - Indian corporates could slow down investment in the US if the strict American policy on issuing temporary visas is not relaxed, says a study by a leading industry lobby and a global consultancy. "The tight-fisted US policy on the grant of H-1B visas to Indian employers may dampen the appetite of Indian corporates for investing in the US," said Federation of Indian Chamber of Commerce and Industry (FICCI) and consultancy Ernst and Young in a statement Thursday.
Cheap credit, tax exemption for garment exporters advocatedJune 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.
'Franchise business in India set to grow'May 28th, 2009 KOLKATA - The franchise business industry in India is hopeful of high growth in the coming years despite the global economic downturn, an industry representative said here Thursday. "The franchise business in India has huge potential and we think it will grow to a large extent in next five years," Indian Franchise Association (IFA) executive director Upendra Sachdev told IANS on the sidelines of a seminar.
Upbeat Indian industry happy about election resultsMay 16th, 2009 NEW DELHI - Indian industry has applauded the people's mandate that brought the Congress-led United Progressive Alliance (UPA) government back to power. Federation of Indian Chambers of Commerce and Industry (FICCI) office bearers believe the reforms initiated by the United Progressive Alliance (UPA) can now continue without disruption.
Turmoil in Nepal hitting Indian investors: FICCIMay 6th, 2009 NEW DELHI - There is a sense of insecurity among Indian investors in Nepal as the country drifts towards political turmoil, the Federation of Indian Chambers of Commerce and Industry (FICCI) has said. 'Industries are badly hit by acute shortages of power and raw materials, petrol and diesel supply have run out and labour unrest has struck at the very heart of businesses,' FICCI said in a report.
India's exports to US fall nearly 12 percent: FICCIApril 30th, 2009 NEW DELHI - India's exports to the US have fallen by 11.5 percent in the five-month period since last October, said the Federation of Indian Chambers of Commerce and Industry (FICCI), adding that this was a 'matter of deep concern'. 'The sharp decline in our exports to the US that accounts for 13 percent of our global exports is a matter of deep concern,' FICCI president Harshpati Singhania said in a statement Thursday.
Business confidence rises, but future scares India Inc.March 24th, 2009 NEW DELHI - While overall business confidence has improved this fiscal, corporates are not confident about the future, says the latest business confidence survey released Monday by the Federation of Indian Chambers of Commerce and Industry (FICCI). The FICCI Business Confidence Survey for the third quarter of 2008-09 said 64 percent of the 384 respondent companies - with turnover ranging from Rs.1 crore to Rs.33,000 crore - felt overall economic conditions have worsened between April and September 2008, down 22 percentage points compared to the previous survey.
60 percent fall in Indo-Pak trade post Mumbai terror attacks: FICCIMarch 12th, 2009 NEW DELHI - As a result of deteriorating indo-Pak relations post the Mumbai terror attacks, cross-border trade is likely to witness a sixty percent decline in fiscal 2009-10. The trade relatio has hit the new low because Indian exporters are scared from doing business with Pakistani businessmen, a FICCI survey has revealed.
India-Pakistan trade to decline by 60 percentMarch 8th, 2009 NEW DELHI - India-Pakistan trade is likely to see a 60 percent decline in 2009-10, with the overall trade falling from $2 billion to $900 million in the coming months on account of the current turmoil in the neighbouring country, says an industry lobby. A quick survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) among exporters and importers doing business with Pakistan reported that they were unwilling to travel across the border to conclude even the firmed-up deals.
Indian media, entertainment business valued at $11.68 bnFebruary 16th, 2009 MUMBAI - The Indian media and entertainment industry was a $11.68 billion (Rs.584 billion) business in 2008, growing at 15 percent annually since 2006, says the annual joint study of a leading chamber and a consultancy released here Tuesday. But the growth projection for the industry for 2009-13 has been lowered to 12.5 percent per annum from 18 percent for 2008-12, says the joint study by the Federation of Indian Chambers of Commerce and Industry (FICCI) and KPMG.
Ficci prepares its own wish list for ObamaJanuary 19th, 2009 NEW DELHI - With Barack Obama taking over as the US President Tuesday, a leading industry lobby has identified five areas that it hopes the new leadership will address to deepen India-US synergy. The wish list prepared by the Federation of Indian Chambers of Commerce and Industry (Ficci) includes support to the nuclear deal signed between the two nations, and enhanced role of Indian companies in America's healthcare and software sector.
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