Govt wants Apple to consider new policy for local mfg
PTI The government wants iPhone maker Apple to consider a new manufacturing scheme offering duty benefits to set up its plants in the country. "Apple had asked for a set of concessions. For a period of 15 years all the components that Apple imports, they want them to be free of duty. We have a phased manufacturing programme (PMP) because we want more and more value addition to come to the country. We want them to understand how this PMP will work and how they can dove tail into that," Ministry of Electronics and IT Secretary Aruna Sundararajan told reporters on Saturday. She was speaking on the sidelines of the annual session of the Confederation of Indian Industry (CII). ...
CII inks MoUs with 3 Singapore universities for students training
The Dollar Business Bureau The Confederation of Indian Industry (CII) on Friday signed memorandum of understandings (MoUs) with three universities of Singapore in order to offer training opportunities to the students. The MoUs will allow the Singapore universities and the International Enterprise (IE) Singapore, a government agency promoting foreign trade, to tap into the network of CII of more than 8,000 members for creating international attachment opportunities for students enrolled in the universities. IE Singapore, which is a statutory board under the Trade and Industry Ministry of Singapore, is the lead signatory of MoU and will support these attachment opportunities under the Young Talent Programme for Students. The signatories to the MoUs are National University of Singapore (NSU), Nanyang Technological University (NTU) and Singapore ...
Indian agriculture sector may grow at 3% in FY17
The Dollar Business Bureau The Indian agriculture sector is expected to grow at 3%, while the industry and services sectors are expected to grow at the rate of 8.2% and 9.8% respectively according to the industry body Confederation of Indian Industry (CII). India is likely to remain the fastest growing economy in the world. The country would certainly register 8% GDP growth in FY 2017 due to normal monsoons, low interest rates, positive investor sentiments and FDI inflows, said Naushad Forbes, President of CII. The CII has taken several initiatives to establish Start-up Centers in the States through public–private partnership (PPP) – an institution for incubation of potential entrepreneurs to build future business houses creating large scale employment opportunities. This incubation programme would ...
Exports are vital, domestic market also important
Aamir H Kaki Exports are vital for the growth of the country but due to sluggish global demand, India needs to focus on the domestic market, said Amitabh Kant, CEO, NITI Aayog, while addressing a conference, organised by the Confederation of Indian Industry (CII) on Friday in New Delhi. Laying emphasis on making India a favorable destination, he said. “The key for growth is that India must become a favourable destination for doing business." And for that to happen, the government must simplify the processes needed to do business. Lauding the government's efforts in these areas, he said a number of reforms, from licenses to bankruptcy codes have been undertaken by the government especially in the last few years. “However, the challenge is to ...
CII welcomes the Union Budget, say it sends a positive signal to all stakeholders
Union budget 2016 put emphasis macro-economic stability, boosting domestic demand and structural reforms The Dollar Business Bureau The Union Minister for Finance Arun Jaitley addressing a Post Budget Interactive Session with the representatives of Indian Trade and Industry Associations (FICCI, CII and ASOCHAM), in New Delhi on Wednesday Welcoming the Budget announcements, Sumit Mazumder, President, Confederation of Indian Industry (CII) stated, Budget 2016-17 is well-balanced and comprehensively addresses all aspects that industry was looking for, including revitalizing the rural economy, infrastructure build-up, relief for stressed assets, and simplification of taxes. Commenting on the budget 2016-17, at a post-budget interactive session with Union Finance Minister Arun Jaitley, the president of CII said, The Budget sends positive signals to all stakeholders, agriculture, industry, investors, ...
Govt to bring national capital goods policy in few months
Deepak Kumar | The Dollar Business The government has expedited the formulation of the comprehensive national capital goods policy and will announce the framework within a few months, a senior official said on Thursday. “We are working on a national policy for capital goods. The government realises that this sector is a building block for the ‘Make in India’ initiative. If we don’t have a healthy capital goods sector, the manufacturing will be at risk and won’t grow to the kind of level that we are expecting. We need this sector to grow,” said Rajan S Katoch, Secretary of the Ministry of Heavy Industries & Public Enterprises. The proposed policy, as part of the ‘make in India’ initiative, aims to encourage ...
DGFT asks exporters to diversify into other markets
The Dollar Business Bureau The Directorate General of Foreign Trade (DGFT), which is under the Ministry of Commerce, urged exporters today to diversify into other markets to minimise risks. "We are urging exporters to look at other markets as over-dependence on few markets like the EU was becoming risky", Director General of Foreign Trade, Pravir Kumar, said at an interaction organised by CII and FIEO here. He said currency fluctuations, particularly in the Eurozone, were badly hitting exports, and new markets of Latin America, Africa and CIS countries should be explored. "This is the focus of the new foreign trade policy," he said. Kumar said that the crisis in Greece could have an impact on Indian exports to that country. "Nearly 18% to 19% ...
Government receptive to investors issues: Jaitley
The Dollar Business Bureau Industry body Confederation of Indian Industry (CII) in partnership with US-India Business Council (USIBC) hosted Arun Jaitley, Minister of Finance for a high level luncheon meeting with top US multinationals on June 22 in San Francisco. Companies such as Microsoft, Applied Materials, Amazon, Oracle, Hewitt, Visa, Google, Cisco and Blackberry among others were present for the meeting. Jaitley while highlighting the improved economic and investment conditions in India mentioned that the improvement in monsoon prediction and prospects of the agriculture sector doing better would further scale up economic growth prospects. He also spoke about the manufacturing sector having a better run now after a long period of slowdown. He also highlighted that micro attention is being ...
