Tag: Assocham
17 Results
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PNB fraud should not halt corporate lending: Assocham
The alleged Rs 11,300 crore fraud on state-run Punjab National Bank (PNB) committed by accused diamantaire Nirav Modi should not halt the entire system of corporate lending as demoralisation would set in among public sector bank (PSB) employees, industry body Assocham said on Sunday. The country can “ill-afford” such fraud induced credit slowdown at a …
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February 25, 2018 -
‘Rope in foreign varsities to stop migration’
To prevent migration of Punjabi youth to foreign countries for higher education, industry body Associated Chambers of Commerce of India (Assocham) has suggested Punjab to rope in well known foreign universities, particularly from the US, Canada and UK to set up their campuses in India. “Since not all students aspiring for quality education can afford …
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February 23, 2018 -
PNB fraud: Assocham calls for privatising public sector banks
In light of the massive Rs 11,300 crore ($1.8 billion) scam allegedly involving jeweller Nirav Modi that has hit state-run Punjab National Bank (PNB), industry chamber Assocham said on Sunday that the government should surrender its majority control of banks, which should be allowed to function like private sector lenders. In a regulatory filing earlier …
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February 18, 2018 -
PNB incident shows vulnerability of Indian banking system: Assocham
The industry body Assocham on Friday criticised the functioning of public sector banks and questioned its “vulnerable” position in a first reaction by any chamber of commerce to the $1.8 billion fraud that took place in Punjab National Bank. “Alleged fraudulent transactions worth Rs 11,300 crore from a single branch of the Punjab National Bank …
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February 16, 2018 -
Higher MSP: Govt needs to balance farmer, consumer interest
The government has to walk a tightrope to balance farmers’ and consumers’ interest in view of the Budget announcement on MSP that could further push up inflation, industry body Assocham said on Monday, 12 February. In the Union Budget 2018-19, the government promised to fix the minimum support price (MSP) at 50 per cent higher …
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February 12, 2018 -
ASSOCHAM seeks 10% customs duty on pulp imports in Budget
Industry chamber ASSOCHAM has urged the Centre to impose 10 per cent customs duty on import of hardwood chemical pulp and bleached chemi-thermo mechanical pulp to encourage domestic production. “The move will provide fillip to job creation and promote overall economic development of India’s vast rural hinterland housing pulpwood plantations,” the industry chamber said in …
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January 16, 2018 -
NBFCs must adopt tech to attract private equity funds: Assocham
Though Indian non-banking financial companies (NBFCs) are growing in market share at a time when the banking system is grappling with the bad loans issue, they will have to keep pace with new technologies to attract investment, industry chamber Assocham said on Sunday. Citing its joint study “Fuelling NBFCs through Private Capital”, conducted in association …
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January 8, 2018 -
Assocham seeks lower taxes, venture capital pool for electronics sector
Industry body Assocham on Wednesday recommended a weighted tax deduction of 150-200 per cent on actual cost of specified components for the consumer electronics sector in the upcoming Union Budget. The deduction is required as costs pertaining to finance, energy and logistics/transportation constitute a major portion of consumer electronics sector, the chamber said in a …
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January 3, 2018 -
Indian economy may reach 7% growth in 2018: Assocham
With government policies set to tilt more towards the “stress-ridden rural landscape” next year in the run-up to the 2019 Lok Sabha elections, the Indian economy may reach a 7 per cent growth in 2018 while recovering from the lingering effects of demonetisation and GST, industry chamber Assocham said on Sunday. “After ‘disruptions’ from the …
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December 24, 2017 -
Political factors to weigh more on economy: Assocham
India Inc will have to factor in political realities weighing on economic decisions of the government, including in the forthcoming budget, as several major states are going to polls in 2018, Assocham said on Sunday. “In the run-up to the 2019 Lok Sabha elections, states including Rajasthan, Madhya Pradesh, Chhattisgarh and Karnataka are due for …
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December 17, 2017 -
Remove ‘bail-in’ clause in FRDA Bill: Assocham
Assocham on Thursday urged the government to remove a clause in the Financial Resolution and Deposit Insurance (FRDA) Bill that seeks to treat bank depositors as other creditors and shareholders for “bail-in”. Assocham Secretary General DS Rawat said that in the Indian context, the concept of bail-in — especially by depositors — should be completely …
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December 14, 2017 -
Indian healthcare may grow to $372 bn by 2022: Assocham
The Indian healthcare market is likely to reach $372 billion by 2022 in a threefold growth in value terms, industry chamber Assocham said on Sunday, citing its latest study on the subject. “India’s healthcare market may see threefold rise as its size in value terms is likely to reach $372 billion by 2022 from the …
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December 3, 2017 -
High pollution in NCR may dent its tourism prospects: Assocham
The alarming level of pollution in Delhi-NCR may hit tourism in the region as November and December are the peak months for foreign travellers to visit India and majority of them opt for the Golden Triangle tourist circuit — Delhi, Agra and Jaipur, Assocham said on Saturday. The industry chamber interacted with 350 tour operators …
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November 12, 2017 -
Assocham seeks government’s help for exporters under GST regime
A top industry body on Tuesday asked the GST Council and the government to help exporters receive their tax refunds at the earliest and called for easing rules for GST administration on exports to maintain the growth momentum. “The growth in exports has picked up, providing momentum which must be maintained by making our goods …
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November 7, 2017 -
‘Chinese products sales may decline 40-45 per cent this Diwali’
Be it decorative items like lights, gift items, lamps and wall hangings or other product, the sale of Chinese products is likely to decline by 40-45 per cent this Diwali as compared to last year, a survey by Assocham-Social Development Foundation (ASDF) said here on Monday. “There has been a 40-45 per cent impact on …
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October 9, 2017 -
India must push for gas pipeline from Iran-Oman: Assocham
India must push for a trans-national deep water gas pipeline from Iran, passing through Oman but by-passing Pakistan, to feedstock the country’s power, fertilizer and steel plants in an environment-friendly and affordable way and for sustainable supply of the fuel, according to an Assocham study released on Tuesday. “An undersea pipeline between Iran-Oman-India will connect …
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September 6, 2017 -
Indian power sector seeing low capacity utilisation: Assocham
The Indian power sector suffers from low capacity utilisation and the plant load factor (PLF) for power plants is estimated to remain low at around 62 per cent until 2018-19, industry chamber Assocham said on Tuesday, citing its report. “India’s energy sector is facing low capacity utilisation in power generation as plant load factor (PLF) …
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August 29, 2017