New Delhi: Welcoming the petrol price hike, industry body Ficci said that government should deregulate the prices of other fuel products like kerosene, diesel and cooking gas. In the steepest ever hike, petrol price was increased on Wednesday by Rs 7.54 a litre with effect from midnight tonight. "However, this increase, welcome as it is, will only partially cover the under recoveries on account of kerosene (Rs 31 per liter),...
08:44 PM, May 23, 2012
New Delhi: With rupee plunging below the 55-level against dollar, which benefits exporters, global buyers are putting pressure on Indian exporters to offer 10-15 per cent discount on shipments. The country's apex exporters body FIEO, however, said the continuous fall in the domestic currency will not help exporters much. "Global buyers are putting pressure for more and more discounts. They are asking for about 10-15 per cent. They want to...
04:38 AM, May 22, 2012
Mumbai: The Centre is planning to draft a legislation to regulate online media and is already holding consultations with the opposition over the matter, BJP president Nitin Gadkari said on Thursday. "The government is planning to impose restrictions on online media and has sought our views on how to go about it. Serious discussions are going on. We want freedom of speech to exist, but we also don't want anybody's...
11:09 PM, May 03, 2012
Once upon a time, the region that is now modern day Pakistan was South Asia's prime trading hub. Be it during the time of the ...
12:58 PM, Apr 15, 2012
New Delhi: Industry body FICCI on Wednesday raised concerns over a new competition law in the US which states that only those manufacturers who can provide proof of using genuine hardware and licensed software should be allowed to export to America. In an effort to create level-playing field between competing manufacturers globally, some of the US states have passed a new competition law. Under the law, only those manufacturers, who...
12:40 AM, Apr 12, 2012
New Delhi: Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said problems of the industry, reeling under high interest rate regime, are linked to fiscal deficit that needs to be contained. "I am willing to accept that high interest rate are a burden, but it is not going to be solved having interest subvention for this or that sector. It will be solved by bringing fiscal deficit down so...
08:44 PM, Apr 09, 2012
New Delhi: Finance Minister Pranab Mukherjee said on Saturday the government needs to take some difficult decisions such as capping subsidies and controlling expenditure to bring down the fiscal deficit in the next few months to get the Indian economy back on the growth track. "We cannot go on with the approach that is divorced from the reality. Difficult decisions will have to be taken in the coming months," Mukherjee...
01:51 AM, Mar 25, 2012
New Delhi: Amid concerns over rising crude oil prices, Finance Minister Pranab Mukherjee on Saturday said the government would take and implement "some difficult decisions" in the coming months. "In meeting the targets under the (expenditure) roadmap, I am conscious of the fact that the government would need to take and implement some difficult decisions in the coming months," Mukherjee said at an event organised by Ficci in New Delhi....
05:56 PM, Mar 24, 2012
Mumbai: South African Deputy Minister of Trade & Industry Elizabeth Thabethe, who is currently on a visit to India said in Mumbai on Friday that women had a major role to play in the global economy. "Women empowerment is an issue very close to my heart. Women now have a major role in the global economy and that has been evident in India and South Africa. Friday's workshop focuses on...
09:30 PM, Mar 23, 2012
Mumbai: Filmmaker Imtiaz Ali's 'Rockstar' emerged a big winner scooping four awards, including best actor for Ranbir Kapoor, at the 2012 FICCI FRAMES Excellence Awards. The film, which chronicles the story of an aspiring singer, walked away with the trophy of best director for Imtiaz Ali, best music director for A.R. Rahman and best singer (male) for Mohit Chauhan. Vidya Balan received the best actor (female) award for 'The Dirty...
04:18 PM, Mar 17, 2012
New Delhi: As Finance Minister Pranab Mukherjee resorted to mopping up more taxes, a disappointed India Inc today said his Budget is a "missed opportunity" and would have cascading impact on inflation and consumer demand. "It is not going to stimulate growth in the economy," FICCI President RV Kanoria said. CII President B Muthuraman said he was expecting much more and the excise-related proposals would push up prices. However, the...
02:12 PM, Mar 16, 2012
New Delhi: Expecting a GDP growth of about 7 per cent in 2012-13, India Inc on Thursday called for implementation of economic reforms and fiscal consolidation. "Domestic factors are more important for India's GDP growth and global conditions play only a marginal role. Therefore, greater attention is needed on implementing reforms," Ficci Secretary General Rajiv Kumar said. The chamber expects that the GDP growth in 2012-13 would be around 7...
04:55 PM, Mar 15, 2012
Mumbai: Filmmaker Karan Johar hopes that the Government gives due preference to the media and entertainment industry in Union Budget 2012. The 39-year-old said it should also realise the importance of cinema because it helps bringing in pivotal social and economic changes in the society. "It is important for them (government) to realise the importance that we are an industry and whatever we do is for the public. And that...
12:34 PM, Mar 15, 2012
New Delhi: Welcoming the Railway Budget, FICCI in a statement on Wednesday said that Dinesh Trivedi has taken a bold step of raising passenger fares that had not been touched since 2002-03. FICCI further said, "The hike will reduce, even if marginally the cross subsidisation of passenger fares from freight. The much needed investment in infrastructure will result in safety, decongestion, capacity augmentation and modernization of system, creating a more...
07:26 PM, Mar 14, 2012
New Delhi: The government's fiscal deficit will overshoot the Budget estimates of 4.6 per cent in the current fiscal and will be close to 5.2 per cent of GDP in 2012-13, industry chamber FICCI said on Tuesday. "Based on detailed government revenue expenditure trends, FICCI estimates that the fiscal deficit in 2012-13 may be close to 5.2 per cent of GDP as compared to a likely FD of 5.7-5.8 per...
03:54 AM, Mar 14, 2012
Budget-making is always a challenge for the Union Finance Minister. But when the critical economic parameters that determine growth, investment and consumer spending are at risk, he has to walk the tightrope to garner resources for public spending and at the same time leave enough room for ensuring that private expenditure is not stifled. True, the global economy is in turbulence. The lingering Eurozone sovereign debt crisis continues to nag...
12:03 AM, Mar 12, 2012
By Mehul Choksi The Gems & Jewellery sector is not only a major employment generator but also makes a major contribution to India's export earnings. As per the white paper issued by FICCI gems & jewellery group - the total size of the gems & jewellery sector (both domestic and exports) was about Rs 4,15,000 crores. The significant increase in growth of the export sector has been primarily because of...
07:21 PM, Mar 07, 2012
New Delhi: The government will not challenge the Supreme Court decision to cancel 122 telecoms licences, Telecom Secretary R Chandrashekhar on Wednesday. "We are not looking at challenging the cancellation of the licences per se," he told on the sidelines of a FICCI event. He further added: "...By the end of this week, we expect to be able to take the key decisions... all the legal options that are on...
06:45 PM, Feb 29, 2012
New Delhi: As many as half a billion Indians would need new homes in the country's various cities over the next decade, a requirement equivalent to all of China, North America and Western Europe put together, a report on Sunday said. The report -- 'Urban Infrastructure in India' -- prepared by industry body Ficci said the country's population is slated to grow to 1.7 billion by 2050 and rapid urbanisation...
10:45 AM, Feb 05, 2012
