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
"Given the significance of new businesses of the future, CII has curated an enabling ecosystem. The new CII Future Business Group consists of brilliant young leaders of India's most successful new age firms", comments Mr Chandrajit Banerjee, Director General, CII in his article published in the The New Indian Express on 19 September 2020.
More money with the urban poor, greater Government spending on healthcare and rationalization of GST rates are necessary for a sustained economic recovery, comments Mr Uday Kotak, President, CII and Managing Director & CEO, Kotak Mahindra Bank in his article published in the Livemint on 2 September, 2020.
"It is notable that the new tax platform places India among the forerunners in a facilitative tax payment system. This will add to its ranking in the ease of doing business and attract investors", commented Mr Chandrajit Banerjee, Director General, CII in his article published in The Times of India on 18 August 2020.
The Centre has levelled the field for Jammu, Kashmir and Ladakh to integrate in India’s growth journey; the onus is now on all of us to take them along, opines Mr Chandrajit Banerjee, Director General, CII, in his article published by The Financial Express on 7 August, 2020.
The faceless e-assessment system for income tax currently being piloted in India will eliminate the undesirable practices that emerge when there is scope for individual discretion and subjective judgement. This will put an end to any possible harassment of honest taxpayers. The transparency will also help bring about a substantial increase in the tax base, opines Mr Chandrajit Banerjee, Director General, CII in his article published in The Morning Standard on 6 August, 2020.
"For a self reliant, globally competitive India, the combination of facilitative reforms for ease of doing business and effective monitoring mechanisms for schemes and programmes that have been already implemented is the need of the hour", comments Mr Chandrajit Banerjee, Director General, CII in his article in the The New Indian Express 10 July 2020.
"Three years of GST have eased doing business in many ways, but return filing can be simplified and number of rates reduced", commented Mr Chandrajit Banerjee, Director General, CII in his article published in the Hindu BusinessLine, on 1 July 2020.
In this interview, Mr Uday Kotak, President, CII and Managing Director & CEO, Kotak Mahindra Bank Limited shares his views on economic revival, revival of lives and livelihoods and creating a strong healthcare ecosystem. It was published in The New Indian Express on 14 June, 2020.
"Immediate measures to address greater formalisation of the economy must be stepped up through labour and regulatory reforms. This would help in creating greater employment and encourage small enterprises to move towards the formal sector", comments Mr Chandrajit Banerjee, Director General, CII in his article published by the New Indian Express on 13 June 2020.
"If we keep subsidising or protecting business, that are not able to compete, we will have an issue. I would expect the market to sort things out", comments Mr Uday Kotak, President, CII in his article published by Business Standard on 8 June, 2020.
"Exiting lockdown is like a Chakravyuh, migration from urban to rural big news", comments Mr Uday Kotak, President, CII, in his article published by The Times of India on 8 June, 2020.
"Our view of Atmanirbhar Bharat is a confident Bharat and a competitive Bharat that will engage with the world", comments Mr Uday Kotak, President, CII in his article published by the Hindu Business Line on 8 June, 2020.
"I hope by the end of the year, we get back to close to 100%, which means close to normalcy. It's going to be a gradual build up towards normalcy. We need to make tough choices and tough decisions", comments Mr Uday Kotak, President CII, in his article published by the Hindustan Times 8 June, 2020.
"If there is any area where there is need for intervention, it is justified only where there is unfair competition. But other than that, with reasonable levels of tariffs, India needs to ensure that it is truly a Atmanirbhar Bharat and competitive India", comments Mr Uday Kotak, President, CII in his article published by the Indian Express, on 8 June 2020.
"Given the disruptions in supply chains, there are a number of adjustments that businesses will need to consider. New ways of reaching and retaining customers may be required", comments Mr T.V. Narendran, Vice President, CII and MD and CEO of Tata Steel in his interview with The Week.
Read more...
Consulting / Advisory Services
CII’s International Department launched Market Facilitation Services (MFS) last year to offer targeted trade and investment facilitation services to Indian companies looking to expand business operations in global markets. A consultancy service, MFS is part of CII’s constant efforts to reorient activities to keep pace with changing paradigms in the global trade and investment ecosystem.
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.
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.
• 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.
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.
Projects
Hyderabad Telangana India Jun 05, 2020 To Apr 30, 2021
Chandigarh Chandigarh India Aug 01, 2020 To Mar 31, 2021
Vijayawada Andhra Pradesh India Apr 23, 2020 To Dec 30, 2020
Kolkata WB India Apr 25, 2020 To Mar 30, 2021
Pune Maharashtra India Jan 07, 2020 To Dec 31, 2020
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.....
Read more...
CII Awards & Recognitions
Recognising India's Best Organisations for Competitiveness
CII Institute of Quality, in 2018 eastablished National Competition on Low Cost Automation (LCA) to support the "Make-in-India" campaign by enhancing the competitiveness of Indian Industry in the global market. This competition catalyzes the wide spread adoption of LCA practices across Indian Industry through sharing best case studies. This competition focuses on core techninial concepts / inovative ideas resulted in improvement in PQCDSM (Productivity, Quality, Cost, Delivery, Safety & Morale). LCA Awards will be presented in six categories (Productivity Improvement, Karakuri Kaizen, Quality Improvement, Pokayoke, Set-up Change (SMED) and Safety & Energy)
Read more...
|
|