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
India and China must give high priority to bilateral economic engagement by looking at new areas of cooperation and sharing of economic gains, writes Mr Chandrajit Banerjee, Director General, CII, in the Hindustan Times of 18 May 2013.
The law for land acquisition must be fair and balanced towards all interests, and should promote competitiveness of the Indian economy. This column by Mr Chandrajit Banerjee, Director General, CII offers some solutions from the industry perspective. The article was published in the Indian Express on 27 April, 2013.
Mr S Gopalakrishnan, who has taken over as CII President, offers his views on accelerating growth through innovation, transformation, inclusion and governance in this set of interviews to various newspapers.
Ahead of the announcement of the Foreign Trade Policy at a time when export targets remain unmet, Mr Chandrajit Banerjee, Director General, CII, lays out key recommendations to revive exports in this column in The Financial Express on 12 April 2013.
High Current Account Deficit has arisen due to expanding fuel and gold imports. To improve the situation, fiscal consolidation and wide-ranging reforms for greater competitiveness are required.This column by Mr Chandrajit Banerjee, Director General, CII, appeared in the Hindustan Times on April 8, 2013.
As a taxpayer, you may have some very legitimate grievances relating to your Customs, Central Excise & Service Tax (Indirect Tax) matters such as settlement of your claims etc. You may, for example, feel that the Department owes you a certain refund of tax but it is not doing enough to hear your grievance or complaint nor taking action to redress it. You may also be aggrieved about the unwarranted rude behaviour of officials or their failure to follow instructions and circulars of the Board. In all such cases, you can approach your Indirect Tax Ombudsman.
The five key emerging economies can enhance mutual trade and investment in food, energy and water, while creating the necessary institutions for this purpose. This article by Mr Chandrajit Banerjee, Director General (CII) was published in the The Hindu, Business Line on 28 March, 2013.
The Integrated Rating methodology for State Power Distribution Utilities was developed by Ministry of Power (MoP) and unveiled in the State Power Ministers conference held in July 2012 (Appendix). The methodology was developed by MoP keeping in view poor financial health of State Distribution utilities and the need to base future funding exposures on an objective rating mechanism. The main objectives of developing the integrated rating methodology for the state distribution utilities are:
Africa's rapid growth and large natural and human resources offer huge opportunities for Indian businesses. The CII-Exim Bank India-Africa Project Partnership Conclave on 17-19 March 2013 aims to translate the potential into investment projects. This article on the potential of the African economy by Mr Adi Godrej, President, CII appeared in the Economic Times on 19 March 2013.
As the CII Exim Bank Africa Concalve begins on Sunday, 17 March, 2013, The Indian Express does a quick check with Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry on whether the discussion is still on the potential than actual investments. Excerpts.
CII President Mr Adi Godrej talks about the unfinished reform agenda and the need to revive savings and investments in this column in the Hindu Business Line on 11 March, 2013.
Budget 2013-14 is sober and balanced, and would go a long way in reviving investor sentiments and growth. This column by Mr Chandrajit Banerjee appeared in Business Standard on 10 March, 2013.
CII offers its views to the Budget presented on 28 February 2013. This article ‘Inclusive and growth-oriented Budget’ by Mr Ajay S Shriram, Vice-President, CII, appeared in the Hindu, Business Line on 2 March 2013.
CII has welcomed the Union Budget 2013-14, which is growth and investment oriented. Coming against the backdrop of challenging global and domestic macro-economic conditions, the Budget makes laudable efforts to optimise growth drivers while addressing imperatives of inclusion. CII is happy that many of its suggestions have found mention in the Budget.
CII offers its views to the Budget presented on 28 February 2013. This article ‘A fine balance’ by Mr Adi Godrej, President, CII, appeared in the Indian Express on 1 March 2013.
Consulting / Advisory Services
CII assist member companies towards preparation of Project Proposals using the Company Project Profile (CPP) Software developed by UNIDO for associations. It covers all the critical parameters that are required in a project proposal that are sought by the evaluators. It is a tool standardized by UNIDO after long years of experience in the international market.
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.
The Tamil Nadu Technology Development Promotion Centre provides several services.
Six Sigma approach is being widely used all over the world for reduction in process variation and waste elimination.
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.
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.
CII and Export-Import (EXIM) Bank of India jointly established the Award for Business Excellence in 1994 with the aim to enhance the ''Competitiveness of India Inc.'' The Award is based on the EFQM (European Foundation for Quality Management) Model for Excellence.
It was more than two decades ago when CII pioneered the quality movement in India. Over this period the country has witnessed a tremendous improvement in the quality of its products and services and made Indian companies highly competitive in the global market. This has largely been achieved through
The key to ensure sustainable Quality up gradation and continuous improvement in an Organization is the willingness of its employees to adapt to changing paradigms.
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 & conservation is a high priority area for industries. Our study & experience show that there is around 10-30% energy saving potential in industries and commercial buildings. The Centre offers consultancy services on energy audits & conducts audit with most accurate estimate of sav
India Apr 09, 2013 To Dec 31, 2013
Gurgaon Haryana India Jan 10, 2012 To Dec 31, 2013
Bangalore Karnataka India May 01, 2013 To Mar 31, 2014
Chandigarh India Apr 24, 2013 To Jun 09, 2013
India Jan 29, 2013 To Dec 31, 2013
CII News Update
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.....
Addressing a press conference at CII NR Headquarters in Chandigarh on Friday, to unveil the CII theme for 2013-14, the newly elected CII President, Kris Gopalakrishnan, Co-Founder and Co-Chairman, Infosys Limited, highlighted that ‘In order to attract investments and accelerate growth, it is essent.....
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.