Assocham

Deregulation to be big theme of Eco Survey

India's ancient knowledge and philosophy can be the guiding light towards a developed nation, industry body Assocham Secretary General Deepak Sood has said. Speaking at the special launch event of a book on Prime Minister Narendra Modi late on Friday evening, he said the growth and advances that India has witnessed in recent years are an outcome of the leadership the country has, and this book has shown us how much progress we have made towards our goal. "We are blessed with ancient knowledge and philosophy that can be our guiding light towards a developed nation," he noted. Authored by former Rhodes Professor at Cornell University, US, and currently a member-HR at the Capacity Building Commission, R Balasubramaniam, the book titled 'Power Within: The Leadership Legacy of Prime Minister Narendra Modi', captures the civilisational wisdom of Bharat. It also explores how Modi's remarkable vision to expedite progress, as well as indigenous knowledge and ancient wisdom, has shaped globa

There's an earnest attempt to address issues of MSMEs, said Nayar

The report said to enhance global competitiveness of exporters and offset the cost disabilities, govt should introduce a special credit package with fiscal incentives for the e-commerce export sector

Nayar also pointed out that it is necessary for investment growth to propel the supply side in order to get a balance "between cyclical consumption-driven growth and inflation."

Nayar talks about Assocham's priorities, pick up in private capex and the startup ecosystem

Not ordering disclosure of details of electoral bonds prior to April 12, 2019 was a "conscious choice" by the Constitution bench, the Supreme Court said on Monday while refusing to entertain the submissions of ASSOCHAM and CII against the disclosure of bond details on the ground of their plea not being listed. A five-judge Constitution bench headed by Chief Justice D Y Chandrachud referred to the April 2019 interim order passed by the apex court in the case. On April 12, 2019, the top court had issued an interim order directing that the information about the donations received and donations which will be received must be submitted by political parties to the EC in a sealed cover. On Monday, the bench refused a hearing on unlisted pleas of industry bodies, Associated Chambers of Commerce & Industry of India (ASSOCHAM) and Confederation of Indian Industry (CII) against the disclosure of bond details. When senior advocate Mukul Rohatgi, appearing for ASSOCHAM and CII, referred to the

The apex court said that the industry bodies could not be given any precedence over other applicants and their plea was not listed for the hearing

The interim budget focuses on the government's objective of making India a USD 5 trillion economy and a developed nation by 2047, Assocham President Ajay Singh said on Thursday. Finance Minister Nirmala Sitharaman presented her sixth Budget on Thursday in which she announced a Rs 11.11 lakh crore spending on infrastructure among other proposals. "It is an India-first budget. A confident budget of a confident government that focuses on the objective of ensuring that India becomes a 5 trillion-dollar economy by 2025 and a developed nation by 2047," Singh told PTI in a post-budget interaction. Speaking further, he said the government has focused on infrastructure, startups, and rail corridors in the Budget. The Finance Minister also announced a Rs 1 lakh crore fund for research and development and the startup sector which is a very significant move. There is no question that the Budget will have a significant impact on the common man, Singh, who is also the CMD of airline company ...

The Budget session of Parliament, the last session before the general elections expected in April-May, will begin on January 31 and is likely to continue till February 9

India is likely to remain the fastest-growing major economy in the world in 2024 on the back of strong consumer demand leading to a pick up in investment across sectors such as construction, hospitality and infrastructure including railways and aviation, Assocham said on Thursday. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing. The country's Gross domestic product (GDP) growth of 7.6 per cent beat most estimates, including 6.5 per cent projected by the Reserve Bank of India (RBI). The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter, official data released on Thursday showed. India's GDP growth beat China's 4.9 per cent rise in July-September, while the Western economies are getting crushed under high-interest rates and energy ...

Meghwal said the BJP government has passed the Mediation Bill recently

To address these concerns, the IBBI recently proposed four changes to CIRP regulations aimed at reducing delays, as outlined in a consultation paper

Prime Minister Narendra Modi's US visit has taken India-US strategic and commercial relations to greater heights, paving the way for immense opportunities for bilateral engagement, Assocham said on Saturday. Modi left for Egypt on Saturday after concluding his US State visit during which he held talks with President Joe Biden and addressed the Joint Session of Congress. 'Prime Minister's visit is being viewed as a turning point in Indo-US relations in a fast-changing world order which would see both the countries emerge as the most influential economies with strategic prowess in the unfolding international political economy,' Assocham Secretary General Deepak Sood said. He observed that while Modi demonstrated India's soft power as he participated in the International Yoga Day at the UN Headquarters in New York, the Prime Minister's personal chemistry with President Biden at the White House demonstrated shared cultural values of the two largest democracies of the world. 'In his ...

Traders and the government have to work on the issue of obtaining easy finance both for domestic and cross-border trade

The MPC voted 5 members to 1 to remain focused on the withdrawal of accommodation

Industry body Assocham has inked an agreement with cost accountants' apex body ICMAI with an aim to prevent money laundering and transnational financial crimes. Both entities have entered into a memorandum of understanding (MoU) in this regard. The strategic collaboration aims to drive professional and organisational development in the realm of money laundering prevention and related transnational financial crimes, according to a release on Thursday. By jointly identifying and implementing capacity-building initiatives, promoting awareness and offering diploma and certificate programmes, the partnership seeks to foster good governance and ensure greater transparency in the economy. The alliance will actively share case studies and national surveys pertaining to financial crimes in India and abroad, with a specific focus on the Prevention of Money Laundering Act, 2002, as per the release. Additionally, they will collaborate on research, knowledge exchange and joint publications in

Around 40 million tonne (MT) of new steel-making capacity will be commissioned by 2025-26, an industry executive said on Thursday. Vinod Nowal -- the Chairman of Assocham's National Council on Iron and Steel -- made the remarks at India Steel Summit in the national capital. Domestic steel production capacity is expected to touch 300 MT and crude steel production is likely to reach 255 MT by FY31, he said. Nowal, who is also the chairman of JSW Bhushan Power and Steel Ltd, said, "Fresh steel capacities of accumulating to 35-40 MT per annum are lined up for commissioning by FY26". As per the industry body Indian Steel Association (ISA), India's total installed steel-making capacity was 154 MT as of March 2023. Another 40 MT capacity addition by FY26 will scale it up to 194 MT.

Industry body Assocham has requested the government to direct state transmission utilities to take necessary steps to optimise the utilisation and monetisation of their spare optical ground wire capacity. A passive optical network or optical ground wire is a dual functioning cable. Besides transportation of power, these can be used for telecommunications purposes, Assocham said, adding that various state transmission utilities presently own and operate around one lakh km of such infrastructure with "ample spare optical ground wire (OPGW) capacity". In a letter to Power Minister R K Singh, Assocham said "there is a significant opportunity to monetise unutilised passive fibre infrastructure already built... by the various state transmission utilities (STUs)." The association, in its letter, has requested for directions to STUs to take the necessary steps to optimise the utilisation and monetisation of their spare optical ground wire capacity. Monetisation of existing unutilised passi

Study surveyed 5,000 participants from 15 large cities, says Indian consumers mostly satisfied with product information provided about branded foods, but are concerned about unbranded items