Assocham`s new president Dr Swati Piramal on Tuesday said the government should continue fiscal stimulus to industries and private sector for another year or two till the global recovery gets on a sound footing.
Industry body Assocham has projected that the key index of Bombay Stock Exchange is likely to touch 20,000 mark by January, 2010, on the back of rising business confidence of investors and FIIs in India.
A number of small industrial units
from the National Capital Region (NCR) have expanded base in
Himachal Pradesh and Uttarakhand in the last 2-4 years to cash
in on attractive tax breaks and other incentives there.
Industry body Assocham has sought
intervention of the Prime Minister`s office to direct the
Ministry of Mines to evolve a uniform policy so that steel
makers could set up plants in iron-ore rich states like
The Associated Chambers of Commerce and Industry (Assocham) has urged the central government to allow the Employees Provident Fund Organisation (EPFO) to invest at least 5 percent of its funds in equities.
Assocham on Sunday urged the trustees of the Employee`s Provident Fund Organisation to favourably consider the Finance Ministry`s recommendation to allow EPFO to invest about 5 percent of its corpus in capital markets.
Companies in the telecom and auto sectors have witnessed robust growth in turnover despite not increasing their advertisement budgets, according to the Associated Chambers of Commerce and Industry (Assocam), an industry lobby.
ASSOCHAM Saturday released a Vision 2020 document for the industrial development of Tamil Nadu, placing focus on the need to ramp up power production to ensure more inflow of foreign investments and an increase in the state`s GDP.
India`s healthcare industry, despite the global economic downturn, posted a healthy growth of 42.44 percent in net profit in the first quarter of the current fiscal compared to same period last year, a study said.
Assocham on Monday demanded a defence
procurement policy that makes it mandatory for armed forces to
source 10 percent of their annual purchases of articles like
uniforms, belts, shoes and components for vehicles from MSMEs.
The government should not open up the debt market to FIIs beyond USD 5 billion (about Rs 25,000cr) to support its borrowing plan as it could be counterproductive in the prevailing scenario, industry body Assocham on Thursday said.
The Reserve Bank must ask banks to ease credit disbursal norms and pass on the benefits of the central bank`s lower key rates to the industry, which is facing credit crunch in the wake of global downturn, Assocham said.
The govt should provide
more clarity on the recently introduced Limited Liability Partnerships, especially on taxation, so that companies would be encouraged to convert into such business firms, industry
chamber Assocham said.