CII

Oil and Gas

The oil and gas industry has been instrumental in fuelling the rapid growth of the Indian economy. The petroleum and natural gas sector which includes transportation, refining and marketing of petroleum products and gas constitutes over 15 per cent of the GDP. Petroleum exports have also emerged as the single largest foreign exchange earner, accounting for 17.24 per cent of the total exports in 2007-08. Growth continued in 2008-09 with the export of petroleum products touching US$ 23.63 billion during April-December 2008. In November 2008, the Cabinet Committee on Economic Affairs awarded 44 oil and gas exploration blocks under the seventh round of auction of the New Exploration Licensing Policy (Nelp-VII). The overall number of blocks brought under exploration now exceeds 200. The allocation is likely to bring in investments worth US$ 1.5 billion. The eighth round of auction is going to be later this year.

Key Initiatives / Information

CII National Conference on Emerging Opportunities

Presentations Of the CII National Conference on Emerging Opportunities for the Capital Goods Industry 26th November 2012, Hotel Lalit, New Delhi.

Go Full Steam Ahead

Opinion piece in Times of India of 2 March 2012 by the Director General, CII. It stresses that fiscal deficit and private corporate investments, growth drivers for the economy, need to be critically addressed in the forthcoming Budget.

Immense Potential for intra-SAARC Trade

In an article featured on the “Opinion” page in the Business Standard dated 13 November 2011, Mr Chandrajit Banerjee, Director General, CII, highlights the immense potential for intra-SAARC trade. Economic cooperation is an acknowledged tool for regional prosperity. However, intra-regional trade in the region, notes the author, which has one-fifth of the world’s population, and is home to two-fifths of the world’s poor, has stagnated at around 5 per cent of total trade, compared to over 50 per cent in East Asia and around 20 per cent in Latin America, and even lower than Sub-Saharan Africa!

76th CII NR Business Outlook Survey

76th CII Northern Region Business Outlook Survey is a quarterly study conducted to gauge the sentiment in the economy. Earlier, the survey was conducted bi-annually, but from the 74th Survey onwards the study is conducted on a quarterly basis in order to get a more frequent indicator of business sentiment. The current survey gives an outlook on business sentiments for the first quarter of 2011-12 as compared to the last quarter of 2010-11.

CII News Update

Statement by Mr Chandrajit Banerjee, Director General, CII on Rail Budget

CII welcomes the Railway Budget presented on the floor of the Parliament today. Under the given economic conditions the Minister has presented a very balanced set of proposals for the Railways. “The emphasis of the Railway Minister on financial viability and fiscal discipline of the Railways is mos.....

Existing PSC Regime needs to continue for deepwater and geologically difficult areas and a clear 5 year roadmap for moving towards arms-length market determined gas pricing needs to be put in place : CII

The Dr. Rangarajan Committee Report on the Production Sharing Contract (PSC) mechanism is a positive step as it recognizes many of the challenges faced by the Exploration & Production (E&P) Industry and emphasizes on the need for greater synergy between the Government and E&P companies thereby enh.....

LULL In The Boiler Industry Temporary, Best Time to Collaborate

Government set to resolve long standing issues including amendment of IBR Mr. T.S.G. Narayannen, Secretary, Central Boiler Board, Department of Industrial Policy and Promotion while speaking at the “Seminar on Boiler Industry: Identifying Challenges and Opportunities” organized by Confedera.....

“Working on a Roadmap to reduce import dependence of hydrocarbons by 50 per cent by 2017,”: Dr M. Veerappa Moily, Union Minister of Petroleum and Natural Gas

Delivering his address at the occasion of the Confederation of Indian Industry’s National Council meeting, Dr Veerappa Moily, Union Minister for Petroleum and Natural Gas, Government of India, said, “Hydrocarbons will continue to be predominant in India’s energy mix for some time to come.Therefore,.....

Praful Patel Pitches for More Incentives for Capital Goods Industry

Mr Praful Patel, Union Minister of Heavy Industry and Public Enterprises has pitched for incentivizing capital goods, particularly for exports to strengthen the manufacturing base in the country. The minister was responding to a point raised by Mr Ajay S Shriram, Vice President, Confe.....

Rs 250,000 cr defence and railway investment up for grabs for Capital Goods in 12th Plan India Backbone Implementation Network required says Arun Maira

Speaking at the CII National Conference on Emerging Opportunities for the Capital Goods Industry in New Delhi today, Mr P.K.Agrawal. Chief Administrative Officer, COFMOW. Central Organisation For Modernisation of Workshops Ministry of Railways said that the Railways are annually sourcing over Rs 50.....

CII Conference on Waste Management – A Step towards Sustainable Future

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Tremendous Potential for Multilateral Partnerships: Indian Ocean Global Forum 2012 : Seychelles Finance Minister

The Indian Ocean Rim countries have vast resources – maritime, natural, oil reserves, diamonds, gold and human resources, making it a “region of enormous potential”, said Pierre Laporte, Minister of Finance, Trade and Investment, Seychelles. He was speaking at the first edition of the Indian Ocean .....

CII Congratulates the PM for Staying the Course on Reforms: Adi Godrej

With his actions last week and the address to the nation last evening, the Prime Minister, Dr Manmohan Singh, has unambiguously sent a message that the Government is determined to see through the reforms that have been at the centre of the political controversy lately. This is most encouraging and .....

Statement from Mr Chandrajit Banerjee, Director General, CII

CII welcomes the cut in CRR announced by the RBI. “Additional liquidity in the system would help the current situation, where availability and cost of credit have been a challenge, particularly for the SMEs. However, given the slew of reform measures announced by the Government, including the ones .....