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
"Voluntary adoption of ethical and transparent business practices alongside a lighter regulatory environment are called for", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Hindu BusinessLine on 28 February 2020.
"As President Trump wraps up his two day trip in India, the goal of $500 billion in two-way trade looks within sight", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Hindu on 25 February 2020 at New Delhi.
"Special measures required for sectors affected by coronavirus", opines Mr Chandrajit Banerjee, Director General, CII in his article published in the Business Standard on 21 February 2020.
In this article, Mr Chandrajit Banerjee, Director General, CII shares his opinion on the break out of coronavirus and its implications on the economic and trade relations between India and China. He also shares his suggestions on how to handle the situation.
It was published in the Economic Times on 20 February 2020.
"Given the high fiscal deficit fiscal deficit, the FM had a tight rope to walk", comments Mr Chandrajit Banerjee, Director General, CII in his article published in the Financial Express on 3 February 2020.
In this article, Mr Chandrajit Banerjee, Director General, CII shares his views on Union Budget 2020. It was published by the Asian Age on 2 February 2020.
"The abolition of dividend distribution tax and introduction of classical system of taxing dividends in the hands of shareholders is a bold measure and expected to have positive spin off on reducing the cost of equity capital in the country", commented Mr Chandrajit Banerjee, Director General, CII in his article published in the Deccan Herald on 3 February 2020.
"The slew of measures and proposals for the use of new technologies will help the economy to get back on track", Mr Chandrajit Banerjee, Director General, CII in his article published in The Hindu BusinessLine on 2 February 2020.
"The removal of dividend distribution tax will enhance the rate on return on equity", comments Mr Vikram S. Kirloskar, President, CII, 2019 - 20 in his article published in The Hindu on 2 February 2020.
"The Budget speech's emphasis on the tax charter to be enshrined in the statuses highlights that trust between the government, industry, and society is at the forefront of policymaking", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Telegraph on 2 February 2020.
"Job creation must be uppermost on the government's mind and one sector that is critical for the relatively unskilled jobs is the construction sector. A revival in construction activity would create demand across multiple sectors", comments Mr Vikram S. Kirloskar, President, CII - 2019 - 20, in his article published in the The Times of India on 27 January 2020.
"India needs to push for investments to support growth", comments Mr Chandrajit Banerjee, Director General, CII in his article in the Financial Express on 24 January 2020.
For the revival of demand, CII has suggested rationalisation of personal income tax, measures to boost rural income and to support the real estate and housing sectors, comments Mr Chandrajit Banerjee, Director General, CII in his article published in the Asian Age on 20 January 2020.
"There are hopes that the Finance Minister would unravel a reformist budget, which would deploy varied policy levers for resuscitating growth while adhering to the percepts of fiscal prudence", comments Mr Chandrajit Banerjee, Director General, CII, in his article published by Business Standard on 17 January 2020.
Article on Spending the lone remedy: CII President, published by The Indian Express on 20 December 2019.
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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
Mumbai Maharashtra India Dec 13, 2019 To Apr 22, 2020
Pune Maharashtra India Jan 07, 2020 To Dec 31, 2020
Ernakulam Kerala India Sep 26, 2019 To Apr 30, 2020
Delhi Delhi India Apr 03, 2020 To May 01, 2020
Mumbai Maharashtra India Jul 26, 2019 To Jul 26, 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.....
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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)
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