CII

Financial Services

With market sentiment turning positive due to the formation of a stable newly elected government, the ripple effect is likely to felt across all the financial services in India. The sectors, including banking and insurance, and mutual funds are all beginning to reap the benefits of a good closure for 2008-09. In 2008-09, the Indian economy is estimated to have grown by 6.7 per cent. According to the latest Central Statistical Organisation (CSO) data, financial services and real estate sector rose by 9.5 per cent in the first quarter of 2009-10. The government has taken a number of steps in recent months to revive the economy, including slashing interest rates, lowering factory levies and more than doubling the limit on foreign investment in corporate bonds. The financial services space is a rapidly growing one in India. The country received US$ 45 billion in foreign currency remittances from non-resident Indians in 2008, the highest in the world. April-May 2009 saw increased inflow in

Key Initiatives / Information

Take help of Indirect Tax Ombudsman to redress your Customs, Central Excise,& Service Tax grievances.

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.

State Distribution Utilities First Annual Integrated Rating - 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:

After this sober Budget, reform

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.

Union Budget 2013-14 Analysis

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.

Necessary For Growth

A body such as the National Investment Board is an absolute necessity if India is to rapidly scale up its infrastructure. CII has estimated that fast-tracking of some 50 large projects could unlock demand for as many as 100 industry sectors up and down the value chain. This article by Mr Chandrajit Banerjee, Director General, CII, appeared in the Hindu Business Line on 13 October 2012 as part of a debate.

81st Business Outlook Survey (October-December 2012)

In order to get a consistent view of the prevailing business sentiments in the country, CII has been conducting a quarterly Business Outlook Survey (BOS) among its members. The survey results are quoted by RBI and referred by economy watchers and CII’s own membership.

CII Voice of CFO Survey

The business environment, global and Indian economic issues and the regulatory environment are undergoing considerable changes. CFOs, working closely with the CEOs, are the ones who need to understand the impact of these changes on the company. These issues need to be discussed in a forum of CFOs to understand their impact on the industrial front. These deliberations may result in formulating the additional competencies that need to be developed by an organisation. It may also result in developing strategies for a collective intervention with the appropriate authorities.

Retail FDI, a game-changer

The announcement on notifying 100 per cent FDI in single brand retail, and opening up multi-brand retail to FDI is a welcome move, and sparks hopes of restoring investor confidence and attracting more funds from overseas. It is worth reiterating the benefits expected from this move. This column by Mr Chandrajit Banerjee, Director General, CII, appeared in Hindu Businessline on 17th Sep 2012.

Ratings downgrade, an overreaction

The downgrading of Indian sovereign rating by Standard's & Poor's and Fitch may be premature as India still enjoys high savings and investment ratios, strong human resources, and robust domestic consumption. However, a clutch of reforms is required to restore investor confidence.

Are S&P and Fitch Overreacting?

CII does not agree with the credit rating given to the Indian investment scenario by Standard's and Poor's. The rating agency has not taken into account India's structural stability such as savings and investment rates and labour productivity. This article by Mr Chandrajit Banerjee, Director General (CII) was published in the Business Standard on 21 June, 2012.

Getting Growth Back

The article dwells upon the immediate steps to get growth back include further reduction in interest rates by 100 bps, deregulating oil prices, progress on disinvestment, fast-tracking major infra projects, and encouraging FDI. Tax reforms will also boost growth in the medium term. This article by Mr Chandrajit Banerjee, Director General (CII) was published in The Hindu on 30 April, 2012.

Go full steam ahead: The Budget's good for the economy but there are gaps

The 2012-13 Budget is largely positive although industry does have some concerns. Many positive changes have been made for infrastructure, agriculture and financial sector, among others. Some more announcements could bolster the many steps announced in the Budget. This article by Mr Chandrajit Banerjee, Director General (CII) was published in The Hindustan Times on 26 March, 2012.

Manage Deficit with Eye on Growth

While fiscal consolidation must be a major priority for the budget, any effort to restrain fiscal deficit should be mindful of the impact on investment and manufacturing growth, already reeling from multiple challenges, says Mr Chandrajit Banerjee, Director General, CII. In fact, there is no contradiction between boosting investment and managing fiscal deficit. An innovative budget that tweaks taxes, and policy options outside the budget could greatly boost investor sentiment.

Budget Must Stimulate Growth

In its pre-Budget recommendations, CII has stressed that to revive growth momentum, new avenues must be devised to augment investment. Private investments need to be incentivised in critical areas of the economy. A reforms oriented budget is needed to instill confidence among investors.

Economic reforms will help drive growth

The year has seen committed initiatives by the Government towards economic liberalisation. Key policies such as the National Manufacturing Policy and Strategy for Doubling Exports have been announced. Several bills are undergoing the Parliamentary process. For the coming year, industry hopes for more steps to restore business confidence and investments. The article appeared in “The Financial Express” dated 31 December 2011.

CII News Update

Proposal to allow ‘Put’ & ‘Call’ Options in Shareholders’ agreements would boost foreign investment into the country: Mr Chandrajit Banerjee, DG, CII

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.....

Statement by Mr Chandrajit Banerjee, Director General, CII

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.....

Dr Arvind Mayaram Statement at CII

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 .....

Bangladesh pitches for common South Asian Currency

“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.....

Our agenda is to accelerate economic (GDP) growth to 6 – 6.5 percent this year and to take it to 8.5 – 9 percent as quickly as possible: S Gopalakrishnan, President CII

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Accelerating Economic Growth through Innovation, Transformation, Inclusion and Governance - CII’s focus

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.....

New business models, futuristic strategies key tools for success : S Mahalingam

“Adapting to new technologies, enhancing value proposition to customers and investing in future are key to survive in times of uncertainty” said Mr S Mahalingam, Past Chairman, CII Southern Region & Former CFO, Tata Consultancy Services Ltd in his special address at the India Finance Forum orga.....

FTP Announcement (Annual Supplement 2013-14) - Right step at right time: S Gopalakrishnan

Welcoming the announcement and complimenting the government, Mr. S Gopalakrishnan, President, CII, said that “This announcement is the right step at right time as it could revive investors’ confidence in SEZs” Besides, he applauded initiatives such as widening of interest subvention scheme, zero du.....

Cut Interest Rates to Accelerate Growth: CII President

Confederation of Indian Industry (CII) has called for easing of interest rates by at least 100 bps in the current fiscal. At a press conference to unveil the CII theme for 2013-14, the new CII President, Kris Gopalakrishnan, Co-Founder and Co-Chairman, Infosys Limited, said, ‘In order to revive gro.....

Yield increases decelerating; opportunities in high-value produce as Indian consumption patterns change: CII-McKinsey FAIDA report

The Indian food and agriculture industry has made significant strides in the past three decades, meeting the challenge of securing production of basic staples to feed India’s growing population. In 2010, India was the world’s biggest producer of mango, banana, papaya, milk, spices, sesame, and cast.....

Consulting / Advisory Services

Feasibility Analysis and Reporting Services for MSMEs

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.

CII Awards & Recognitions

CII-EXIM Bank Award for Business Excellence

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.

CII Contact

Marut Sen Gupta
[Deputy Director General]
Confederation of Indian Industry
CII Central Office
Mantosh Sondhi Centre
23 Institutional Area
Lodi Road
New Delhi-110003
Delhi
India
Phone : 91-11-24629994 - 7
Fax :91-11-24682229
Email : marut.sengupta@cii.in