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India had barely recovered from the ill-effects of the global financial crisis of 2008-09, when another crisis, this time with its genesis in the Euro Area, hit the economy hard. To be sure, though economic growth moderated in the crisis year of 2008-09, but it also revived smartly in 2009-10 and 2010-11. However, growth in 2011-12 came in at 6.5%, which was not only poor compared to the pre-crisis growth, but also compared to the immediate post-crisis year. The slowdown has spilled over to the current fiscal as well, with the latest GDP data print released for the first-quarter 2012-13 (1QFY13), slowing to 5.5%. If we exclude the growth in the last quarter of 2011-12, then this is the lowest quarterly growth in nearly 3 years. Agricultural output accelerated to 2.9 per cent in 1QFY13 from 1.7 per cent in the previous quarter mainly due to a low base of last year. Growth in the industrial sector also increased to 3.6 per cent in the 1QFY13 as compared to an anemic 1.9 per cent in the previous quarter. Economy’s bellwether, services sector growth dropped to 6.9% in 1QFY13- the sector’s lowest quarterly growth since March 2009. The continuing uncertainty in the Euro Zone and, falling domestic investment demand are expected to keep the Indian economy's growth prospects weak for this fiscal. Moreover, notwithstanding the pick-up in rainfall towards end-August 2012, this year is likely to end in a net rainfall deficit, thus exacerbating the downside risks to growth. The weak performance of agriculture due to the drought will rub on industry and services given the inter-linkages between them. On a positive note, the government recently announced some major policy reforms which are likely to usher in a period of fiscal consolidation and boost investment levels in the economy. In sharp contrast to growth, headline WPI-based inflation has remained sticky at around 7.5 per cent throughout the current financial year so far. Consequently, the RBI has so far kept the repo rate unchanged, but it did reduce the cash reserve ratio (CRR) by 25 basis points in its mid-September 2012 meeting, citing rising liquidity deficit in the financial market.
Key Initiatives / Information
Karnataka ranks top as an aerospace hub, biotech destination and software exporter, among other Indian states. The policies for Special Economic Zones, Minerals, Agriculture and agri-business and other sectors are progressive and target an environment free of 'red tape'. In this article, Chandrajit Banerjee, Director General, CII expresses his views on the investment climate in Karnataka. This article was published in the Deccan Herald on 13 February, 2017.
"The success of this year's budget will be judged based on whether it is able to increase direct tax collection by encouraging more people to join to tax net", comments Chandrajit Banerjee, Director General, CII, in his article published in The Financial Express on 11 February 2017.
“In general, through strategies regarding political funding, digitalization of the economy and encouraging formalization, the finance minister delivers on his promise to ‘transform, energise and clean’ in Budget 2017-18”, comments Chandrajit Banerjee, Director General, CII in his article published in the Asian Age on 2nd February 2017.
"The Finance Minister has presented a balanced, progressive and growth oriented budget, which has attempted to strike a delicate balance between reviving the investment and consumption in the economy on one hand while creating sustainable platform for social inclusion and rural uplift on the other", comments Chandrajit Banerjee, Director General, CII, in his article published in The Telegraph on 2 Febraury 2017.
Chandrajit Banerjee, Director General, CII shares budget recommendations to fast track growth, in his article published in The Telegraph on 23 January, 2017.
The rate of Minimum Alternate Tax has more than doubled from 7.5 % in 2007 to 18.5% currently, which is inhibiting manufacturing competitiveness, comments Chandrajit Banerjee, Director General, CII in his article published in The Financial Express on 16 January 2017.
"The money raised from the monetisation of land assets and sale of PSUs can be used to create rail and defence infrastructure", comments Chandrajit Banerjee, Director General, CII in his article published in The Deccan Chronicle on 16 January 2017.
The Budget should focus on revitalising the agri sector which, in spite of a healthy monsoon, has been hit by demonetisation, comments Chandrajit Banerjee, Director General, CII in his article published The Hindu Business Line on 14 January 2017.
"The industry would like to see a cut in corporate and personal income tax rates accompanied by higher public investments next year", comments Chandrajit Banerjee, Director General, CII in his article published in the The Financial Express on 27 December 2016.
In this article, Chandrajit Banerjee, Director General, CII shares his views on India - UK bilateral relations and how it can be harnessed to create mutual opportunities and investments. The author also sheds light on how to promote ease of doing business between the two countries. This article was published in Mint on 7 November 2016.
Complimenting the Government for progress on making the landmark Goods and Services Tax a reality, CII identifies several areas to be addressed for its efficient and smooth introduction. This column by Mr Chandrajit Banerjee, Director General, CII, appeared in The Times of India on 1 September 2016.
The Goods and Services Tax is a landmark reform for the country. CII compliments the Government on the progress made in its institution. In this column published in The Hindu on 29 August 2016, Mr Chandrajit Banerjee, Director General, CII, suggests that maintaining a standard rate of 18% would promote economic growth.
In an interview to The Economic Times on 1 July 2016, CII President, Dr Naushad Forbes, shares his thoughts on GDP growth rate, interest rates, and GST, among others, expressing optimism about the prospects for the Indian economy.
On the occasion of the 11th CII-EXIM Bank Conclave on India-Africa Project Partnership held in New Delhi on 14 March, Mr Chandrajit Banerjee, Director General, CII, says that this partnership represents the hopes and aspirations of over 2 billion people and is based on developmental initiatives. This article appeared in The Economic Times on 14 March 2016.
The Budget for the forthcoming year may not have increased allocation to education but it has several notable new policies, including identifying 10 public and 10 private universities for world-class excellence. This column by Mr Chandrajit Banerjee, Director General, CII appeared in The Times of India on 7 March 2016.
Consulting / Advisory Services
CII offers Feasibility Analysis and Reporting Services for MSMEs to enable MSMEs to prepare proposals for funding or Joint Ventures. This service is being provided using a Computer model for Feasibility Analysis and Reporting (COMFAR) software developed by UNDO. This software permits the user to simulate the short- and long-term financial and economic situation of investment projects. The software facilitates the analysis of industrial as well as non-industrial projects, whether new investments, rehabilitations, expansions, joint venture or privatization projects.
TNTDPC is emerging as one-stop shop solution for all Intellectual Property Rights(IPR) training and service needs in State of Tamil Nadu at a very nominal cost.
Over several decades, quality philosophy has evolved from “Inspecting the Quality into the Product” to “Right the first time” and building “Robust Products and Processes” which finally lead to a “Zero Defect” output. While various quality gurus propagated different approached, the key objectives of the programs remained quite similar. Lean Six Sigma is one of the philosophy which addresses some of the key requirements in today’s environment • Business Results and Breakthrough Improvements • Data Driven with Application of Right Tools • People Involvement and Capability Building • Structured Execution and Review Mechanism CII Institute of Quality focuses on customising the approach to the specific industry requirement and builds capability to ensure sustained results. The CII Institute of Quality initiated support to industry on the subject almost a decade back and since then serviced 200 organisations and certified 220 Black Belts.
Total Productive Maintenance, shortly termed as TPM, is the concept originated and developed by Japan Institute of plant Maintenance (JIPM) Tokyo, since late sixties. JIPM-TPM is the key for the operational excellence for many Japanese companies. TPM strives to achieve high level of productivity, through total participation of all people inside the organisation and then developing self -managing abilities in people and practices. Productivity, in JIPM-TPM means increasing production and reducing cost simultaneously.
Legal metrological requirements, relevant to the manufacturing sector, as laid down by way of standards under the Weights and Measures Act, 1976 and the Packaged Commodity Rules, 1977 have assumed critical importance in modern production lines.
• Assisting organizations in formulating a Quality Vision and developing a Strategic Quality Framework • Fostering Organizational success by developing mature business quality systems on a risk based model • Embedding robust process management framework in complex, matrix environments • Gap analysis and evaluation services on quality applications deployment • Enabling Conformity Assessment Bodies attain globally recognized accreditation based on ISO standards 17020, 17021,17065, 17024 • Helping public services develop their Citizen’s Charter development and quality and processes based on IS 15700 • Customized Long term Certificate courses on quality management and statistical methods for middle and senior quality managers.
Education is the key to progress. It empowers the individual and enables a nation. The most precious of all resources available to any country is its children and it is incumbent upon us to ensure that our children get all the opportunities they need for their physical as well as intellectual growth. A good education system must enable the child to grow intellectually and blossom into an enlightened citizen. The role of education in facilitating social and economic progress is well recognized. It opens up opportunities leading to both individual and group entitlements. The government spending on education will be increased to $100 billion in the 12th Five Year Plan (2012-17) from the estimated $70 billion during the current plan period.
The Award for Excellence was established jointly by CII and Export-Import (EXIM) Bank of India in 1994 and is based on the EFQM Model for Excellence. Its main aim is to enhance the ‘Competitiveness of India Inc.’, and recognises organisations who have achieved excellence. A large number of organisations have used this model to: • Define excellence across the organisation • Develop an integrated approach for achieving substantial competitiveness • Review and improve strategy, process and performance • Identity and share first-class practices • Provide opportunities to develop business leaders.
Strategic Corrosion Management Services are aimed at helping the industry identify, minimise, control and mitigating Corrosion in all sectors.
HR Management interventions are aimed at guiding and supporting an organisation to develop a new tailor made strategy which has its expected outcomes like reduced costs, an increase in responsiveness, higher employee engagement and an improvement in internal customer service levels.
Increased global competition has forced companies to think aggressively about effective Cost Management. A low cost high quality product has become an object of desire, to gain a competitive edge. It is essential that cost management addresses not just individual activities or cost centres but the e
Energy Efficiency makes excellent business sense as one of the most attractive competitive tools, reducing the cost of production. It enables Resource conservation, thus contributing to Sustainable Development.
India May 01, 2017 To Dec 31, 2017
India Jan 18, 2017 To Jun 30, 2017
CII News Update
Mr Anand Sharma, Minister for Commerce, Industry and Textiles, India, addressing the “India Investment Roundtable” jointly organized by the Department of Industrial Policy and Promotion (DIPP) of Ministry of Commerce and Confederation of Indian Industry in Tokyo today invited leading Japanese comp.....
CII welcomes the decision taken by the Government to allow incorporation of ‘call’ and ‘put’ options in shareholders’ agreement. The proposal to remove restrictions on using options in shareholders’ pact for M&A and PE transactions would encourage inflow of foreign investment into the country. This.....
Commenting on IIP Data, Mr Chandrajit Banerjee, Director General, CII, said, “A 2.5 percent growth over a negative base of -2.8 percent in March last year indicates that a robust and broadbased growth is elusive for the sector. What is creating concern is the growth of the mining sector which cont.....
Speaking at the seminar organised by CII on the background of 46th ADB Annual Meeting held in Delhi, Dr Arvind Mayaram, Secretary (Economic Affairs), Ministry of Finance said that the existence of an efficient financial system facilitates economic activity and growth and also stated that a country .....
“A Common Currency is the need of the hour in South Asia to promote Trade and Investment. Introduction of such currency will facilitate greater economic integration within the region” said Mr. A. M. A. Muhith, Finance Minister of Bangladesh while addressing the meeting on “Boosting Sub-Regional Dev.....
“The decision of RBI to cut the policy rates by 25 basis points, the third time during the current year, in its annual policy review, sends a strong signal that the RBI is refocusing its priority in favour of growth in view of the moderating WPI based inflation and weakening demand in the economy”,.....
“A rate cut of 25 basis points, while welcome, falls short of CII''s expectation of a 50 bps cut in policy rates which was crucial under the current economic conditions. A 50 bps cut in policy rates would have provided a strong boost to the economy and made a significant impact on investor sentimen.....
CII Southern Region would focus on the theme - “Accelerating Growth - Conscious Competitiveness” for the year 2013-14 said, Mr B Santhanam, Chairman, CII – Southern Region while addressing his maiden Press Conference in Chennai on 2 May 2013. Mr Santhanam said that CII-Southern Region’s agenda.....
Confederation of Indian Industry (CII) has called for a balanced outcome from the ongoing EU-India Bilateral Trade and Investment Agreement (BTIA) negotiations. In its interaction with the visiting Members of the European Parliament, CII re-iterated its support for an early conclusion to the BTIA b.....
CII Awards & Recognitions
CII and Export Import Bank of India have, in 1994, jointly established the CII-EXIM Bank Award for Business Excellence, with the aim of enhancing the Competitiveness of India Inc. The Award is based on the internationally recognized EFQM Excellence Model.
Confederation of Indian Industry (Southern Region) has launched the Eighth edition of the "Leadership and Excellence Award in Environment Health & Safety (EHS) for the year 2009" in cooperation with SHRIRAM EPC Limited. The EHS Award was instituted in the year 2002 and it has been grand success every year and has received tremendous response from the industries in the Southern Region.