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Tough times are likely to persist for the automotive industry in India until at least the first quarter of 2012-13 as major auto makers are geared up to hike prices by nearly one per cent to ten per cent in the year ahead, apex industry body ASSOCHAM said . “Rising interest rates, steep and steady rise in input costs, unregulated [...]
Adding momentum to his vision of increasing the ingress of steel in rural markets, Hon’ble Minister of Steel, Shri Beni Prasad Verma, witnessed the signing of agreement for setting up of Joint Venture Steel Processing Units in Barabanki and Lakhimpur. Letter of Intent for setting up of SPUs on conversion basis at Jhansi, Hardoi and Mirzapur were also handed over [...]
ASSOCHAM called for wide-ranging reforms and clear policies to effectively direct credit flow to the agriculture sector and encourage contract farming for furthering financial inclusion across the country. Agricultural credit can be a means of furthering financial inclusion as it would be linked to economic activity, it said. Of 148 million rural households, 89 million are farm households and 46 [...]
Intra-corporate group restructurings will alter the country’s economic architecture and ultimately benefit consumers as more Indian companies get involved in cross-border mergers and acquisitions (M & As) than ever before, chairman of the Competition Commission of India Ashok Chawla said today. Most segments of the Indian industry have traditionally been quite fragmented, which has led to fragmented capacities. This will [...]
Prominent leaders from India and Pakistan today called for empowering women with education and economic independence to encourage entrepreneurship in south Asia and pulling the masses out of poverty, illiteracy, disease and crime. Providing them networking platforms is also essential in the current globalised world, said member of Parliament Najma Heptullah while addressing a seminar organised by The Associated Chambers [...]
The government is considering review of cap on NavRatna and MahaRatna PSUs and a concrete proposal in this regard is likely to be put up to the cabinet, said Mr Praful Patel at the ASSOCHAM conference on Public Sector Enterprises held in New Delhi today. This, he said has been necessitated in view of fluctuations in the currencies and need [...]
ASSOCHAM gave a detailed presentation before the finance ministry on how to accelerate the pace of industrialisation, promote investments in infrastructure and rationalise provisions of direct tax laws to widen the tax revenue base. As a pre-Budget exercise, ASSOCHAM members met finance secretary R.S. Gujral, chairman of the Central Board of Direct Taxes M.C. Joshi and chairman of the Central [...]
The Archaeological Survey of India (ASI) was founded in the December 1861 as a result of a series of antiquarian, artistic and architectural investigations since 1784, when the Asiatic Society was established under Sir William Jones. The necessity of an institution to survey and document, interpret and publish the data pertaining to India’s ancient past was thus felt as early as [...]
Reeling under the economic slump in the United States (US), a sovereign debt crisis in Europe and a sluggish economic growth in Japan, the exporters in India are expecting the government to announce an Amnesty Scheme to bail them out of the current crisis in international markets, apex industry body ASSOCHAM said today. The Associated Chambers of Commerce and Industry [...]
ASSOCHAM welcomed the recent notification by ministry of consumer affairs, food and public distribution on 19 consumer product categories to be sold in standardised pack sizes from July 1 next year. Companies dealing with fast moving consumer goods (FMCG) have often resorted to tinkering with pack sizes to manage the slippage in operating margins during a high raw-material inflationary scenario. [...]
London, Dec 15 (IANS) The British royal wedding of Prince William and Kate Middleton was the most popular ‘Google search’ item in the country this year. The term ‘royal wedding’ was followed by ‘iPhone 5′ and ‘Fifa 12′ in the list of the search engine’s annual survey of the most inquired-about new terms, Sky News reported. Kate, the Duchess of [...]
Mr Kris Gopalakrishnan, Vice President, Confederation of Indian Industry (CII) & Executive Co – Chairman, of Infosys Limited led a high level business delegation to Sri Lanka from 11th to 13thDecember 2011. During the visit, the delegation had the honour to call on the President of Sri Lanka, H E Mr Mahinda Rajapaksa on 12 December 2011 in Colombo. During his meeting, Sri Lankan [...]
“There was a time when it was believed that India cannot do manufacturing. Now we have reached a stage where our National Manufacturing Policy talks about 12-14% growth rate, 100 million jobs and increasing share of manufacturing in GDP to 25% by 2025,” said Mr Ajay Shankar, Secretary, National Manufacturing Competitiveness Council at theConfederation of Indian Industry’s (CII) flagship event the “10th Manufacturing Summit 2011” [...]
SEBI proposes to take host of measures to broad-base financial inclusion through literacy initiatives and build infrastructure for 1.2 billion Indians who are still not a part of capital markets, says Mr. Prashant Saran, its whole-time member while addressing ASSOCHAM conference on Mutual Fund Summit here today. He said mutual funds must increase their penetration in smaller cities and rural [...]
The ministry of civil aviation is working out a new policy to factor in needs of the fast-growing sector over the next ten years, secretary Nasim Zaidi said today. “We have about five months to complete the process,” he said while inaugurating the conference titled ‘Air Cargo as Engine of Economic Growth’ organised by The Associated Chambers of Commerce and [...]
Growing at a compound annual growth rate (CAGR) of over 26 per cent, the trade, hotel and restaurant with about 32 per cent share are the highest contributors to the gross state domestic product (GSDP) of Bihar between 2004-05 and 2010-11, according to a study undertaken by apex industry body ASSOCHAM. With a stagnant annual growth rate of a meagre [...]
the Reserve Bank of India (RBI) to reduce cash reserve ratio (CRR) and statutory liquidity ratio (SLR) amid large liquidity crisis in the money market and rising demand for easing monetary conditions to curb stubbornly high inflation. Instead of reducing repo rates, there is a strong case for the central bank to cut CRR by 50 basis points from six [...]
FICCI’s latest Quarterly Survey on Manufacturing projects continued moderation in growth for the sector. This slowdown is a result of lower order books, moderate export growth and rising raw material costs. According to FICCI’s Survey, which drew responses from 384 manufacturing units, an overwhelming 87% of total respondents said that they expect growth to moderate in their sector in Q-3 [...]
Carborundum Universal Ltd, Koratty Unit, Kerala and Cognizant Technology Solutions Ltd, Thoraipakkam, Chennai have won the First Places of the CII Southern Region 5S Excellence Award under the manufacturing and service sector large scale category respectively. The awards were presented to the winners at the award ceremony held in Chennai on Thursday. Carborundum Universal Ltd., Koratty Unit also received the [...]
Industry experts and policy makers called for a national electronics strategy to develop laboratory-to-fabrication clusters across the country and build a vibrant ecosystem for the 65 billion dollar market. High-volume sourcing of components and final products has hampered the growth of electronics manufacturing base in recent years, said Mr R. Chandrashekhar, secretary at the ministry of communications and information technology [...]
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