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
In this article, Mr Chandrajit Banerjee, Director General, CII shares his views on the Budget highlighting its impact on the key sectors. It was published in the Hindu Businessline on 5 February 2019.
In this article, Mr. Chandrajit Banerjee, Director General, CII presents his views on Union Budget 2019, its impact on the economy and on the key growth sectors. It was published in the Asian Age on 2 February 2019.
"The economy will benefit as the tax is ushering in higher transparency, lowering transactional costs and improving compliance", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Hindu Businessline, on 14 January, 2019.
"An interconnected financial system requires collaborative and calibrated interventions", comments Mr. Chandrajit Banerjee, Director General, CII in his article published in the Business Standard on 6 November, 2018.
"Manufacturers no longer have to study tax rates across states before deciding on the most competitive investment location and can base their decisions on availability of resources and skills", comments Mr. Chandrajit Banerjee, Director General, CII in his article published in The Financial Express on 29 June, 2018.
CII in supporting SAARC Development Fund is organizing SAARC Development Fund Partnership Conclave scheduled on 2-3 July, 2018 at New Delhi.
SAARC Development Fund is organizing “SAARC Development Fund’s Partnership Conclave 2018” on “Regional Integration through Project Collaboration and Investments” to be held from July 2- 3, 2018 at India International Centre, New Delhi, India.
The event aims towards Strategic Growth in the South Asia region through Project Collaboration and Regional Integration and proposes to:
• Solicit Cross-Border Project Co-Financing under the Social, Economic & Infrastructure Windows of SDF in SAARC Member States.
• Build partnerships with various organizations for Fund Mobilization and Investments in SAARC Member States.
Mr. Amitabh Kant, Chief Executive Officer, NITI Aayog will be the Chief Guest and deliver key note address in the partnership conclave.
"Through wider use of digital platforms, simplification of processes etc, India has managed to tackle significant volume of red tape that constricted businesses. Measures like single application, introduction of SPICe forms and use of technology have made business processes simpler and much faster." comments Mr. Chandrajit Banerjee, Director General, CII, in his article in the Asian Age, published on 18 May, 2018.
‘With improvements set to continue, India creating investment climate to boost growth’, comments Mr. Chandrajit Banerjee, Director General, CII, in his article published in the Indian Express on 13 May 2018.
"The rollout of the e-way bill across the country will reduce cost of transactions and raise competitiveness, which will make life of the consumers easy. They can expect the industry to lower cost for the consumers", says Mr. Chandrajit Banerjee, Director General, CII in his article in published in The Tribune on 7 May, 2018.
"Banks, especially public sector banks, require a systematic overhaul related to ownership, management and regulations. PSBs' gross NPAs have risen from 4.6% in March 2015 to 9.6% in March 2017", opines Mr Chandrajit Banerjee, Director General, CII in his article in The Indian Express on 27 February 2017.
"Given the prevailing economic conditions of muted consumption, the Union Budget FY19 was widely expected to focus on the rural and agricultural economy, social sector, job creation, and micro, small and medium enterprises (MSME)", comments Mr. Chandrajit Banerjee, Director General, CII, in his article published in the Financial Express on 9 February, 2018.
"Mr. Jaitley’s Budget has accepted the demand of industry and raised customs duty on select items to provide a fillip to Make in India" comments Mr. Chandrajit Banerjee, Director General, CII, in his article published in the Deccan Chronicle on 2 February, 2018.
In this article, Mr. Chandrajit Banerjee, Director General, CII expresses his opinion on the formidable challenges being faced by the Indian industry in the adoption of Industry 4.0. He emphasizes the need for research and innovation funds to accelerate the adoption of Industry 4.0. This article was published in the Dainik Bhaskar on 30 January, 2018.
"The high cost and/ or poor quality of land, labour, capital power and other infrastructure have a significant impact on firms in India", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Times of India on 19 January 2018.
"The key challenges for the economy now that the budget needs to address are the falling investment-to-GDP ratio, backlog of non-performing assets of banks and issues in the rural sector", comments Mr Chandrajit Banerjee, Director General, CII in his article published in The Asian Age on 18 January 2018.
Consulting / Advisory Services
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.
TNTDPC is emerging as one-stop shop solution for all Intellectual Property Rights(IPR) training and service needs in State of Tamil Nadu at a very nominal cost.
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.
Education is the key to progress. It empowers the individual and enables a nation. The most precious of all resources available to any country is its children and it is incumbent upon us to ensure that our children get all the opportunities they need for their physical as well as intellectual growth. A good education system must enable the child to grow intellectually and blossom into an enlightened citizen. The role of education in facilitating social and economic progress is well recognized. It opens up opportunities leading to both individual and group entitlements. The government spending on education will be increased to $100 billion in the 12th Five Year Plan (2012-17) from the estimated $70 billion during the current plan period.
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.
India Jan 21, 2019 To Dec 30, 2019
India Aug 01, 2018 To Dec 31, 2019
India May 08, 2018 To Mar 31, 2019
India Jan 25, 2019 To Oct 30, 2019
India Jan 23, 2019 To Dec 31, 2019
CII News Update
Mr Anand Sharma, Minister for Commerce, Industry and Textiles, India, addressing the “India Investment Roundtable” jointly organized by the Department of Industrial Policy and Promotion (DIPP) of Ministry of Commerce and Confederation of Indian Industry in Tokyo today invited leading Japanese comp.....
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.....
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.