ASSOCHAM

Around 5,300 textile factories shut as of 2010-11: Assocham

Around 5,300 textile factories shut as of 2010-11: AssochamNearly a third of India’s total textile factories remained non-operational as of 2010-11, leading to a drastic increase in job losses in the sector, a newly published study by the Associated Chambers of Commerce and Industry of India (Assocham) revealed.

In its latest report, industry body Assocham said that nearly 30 per cent of the textile factories across the country remained non-operational between 2000 and 2011. As of 2011, there were 17,987 textile factories across the country, of which nearly 5,300 were non-operational.

Middle-class Indians hard hit by rupee's fall: Survey

Middle-class-IndiansNew Delhi, June 20 : As the Indian rupee slumps to new lows, the country's middle class has been forced to cut back on eating out, buying branded products or new cars, studying abroad etc. as their monthly expenditure has risen by 20 percent, a study by Assocham revealed Thursday.

The Indian rupee slumped to another record low of 59.93 against the dollar Thursday, after the US Federal Reserve signalled an end to its monetary stimulus that would help in further strengthening of the greenback.

Falling rupee hits students aspiring to study abroad: Assocham

studying-abroadNew Delhi, June 13 : With expenditure on food, living expenses and stay rising sharply due to the weakening rupee against the dollar, Indian students aspiring to study abroad have been hit hard, a study by Assocham revealed Thursday.

Since March 2012, the rupee has weakened by 15 percent and it is under pressure due to the growing concerns over the current account deficit. It hit a record low of 58.98 against the dollar Tuesday.

China may not harm its big stake in Indian market: Assocham

Assocham-IndiaNew Delhi, April 27 : China has a big stake in India's growing market which it would be reluctant to harm industry body Assocham has said.

"Chinese stake in the growing Indian market is increasing massively and the current annual trade surplus of over $40 billion may touch $44 billion by the end of the current year, " Assocham said Saturday in a statement.

"It is in the best interest of the two neighbouring countries that their relations improve and are cemented through expanding commercial engagement," the industry lobby said in a context of the standoff on the border between the two countries.

Assocham suggests cell for sick MSME units in Bengal

AssochamKolkata, April 23 : Industry body Assocham Tuesday suggested that the West Bengal government set up a special cell for reviving sick micro, small and medium enterprises (MSMEs) in the state.

The Associated Chamber of Commerce and Industry of India (Assocham), which submitted a strategy paper on "Reviving Sick Units in West Bengal" to state Industry Minister Partha Chatterjee, said over Rs. 725 crore was blocked in the sick units and more than one lakh people had lost their livelihood.

It said 96 percent of the state's sick MSME units were not in a condition for revival.

ASSOCHAM offers suggestions on manifesto

ASSOCHAMThe Associated Chambers of Commerce and Industry of India (Assocham), the representative industry body has formulated a list of suggestions that can be included in the election manifesto of political parties in Karnataka.

The state has been able to attract significant external investment and remains a business friendly state but there are some infrastructure issues that have been affecting growth in the state in recently years. The industry body is offering suggestions to the political parties to increase their focus on the issues in order to boost growth in the southern state.

Growth slowdown hit Indian Inc sales, profit margins

Assocham-IndiaNew Delhi, April 19 : The slowdown in economic growth has hit Indian companies' sales and profit margins, Associated Chambers of Commerce and Industry (Assocham) said in a report.

Amidst slow growth in net sales, corporate India has shown downfall in terms of net profit margin in the fourth quarter of the financial year 2012-13.

"The decline in growth rate of sales could be attributed to the low industrial production numbers with slack demand conditions in the economy," Assocham president Rajkumar Dhoot said in the report.

India is sixth largest market for contraband cigarettes, report

India is sixth largest market for contraband cigarettes, reportAccording to a new report by research organisation Euromonitor, India has emerged as the sixth largest market for contraband cigarettes in the world.

The study conducted by Assocham said that the market for contraband cigarettes in the country about Rs 2,000 crore per annum, which results is losses to the government and affects the lively hood of millions of tobacco farmers in the country. Te study also warns that illegal cigarettes could be a source of terror activities as well.

Cyrus Mistry will be able to steer Tata Group well: Assocham

Cyrus Mistry will be able to steer Tata Group well: AssochamCyrus Mistry, who is going to take over captaincy of the $100-billion Tata Group this Friday, will be able to steer the global conglomerate well, according to a survey by Assocham.

Assocham surveyed as many as 78 chief executives and heads of domestic as well as overseas companies in the first half of December, and found around 77 per cent of those chiefs saying that they were confident that Mr. Mistry would be able to steer the conglomerate well.

Assohcam suggests bailout package for Kingfisher Airlines

Assohcam suggests bailout package for Kingfisher AirlinesIf ailing national carrier Air India can be rescued by giving a bailout by the government, then there is no reason to deny a similar bailout package to the stranded Kingfisher Airlines, industry body Assohcam said.

D S Rawat, Secretary General of Assohcam, suggested a bailout package for Vijay Mallya-promoted Kingfisher Airlines saying there is no difference in the financial woes of Air India and Kingfisher Airlines.

India economy will see a sparkle in festive season of 2013-14: Assocham

India economy will see a sparkle in festive season of 2013-14: AssochamManufacturing and exports will increase in the coming quarters and it is feasible that India's overall economy grows to 7 per cent in the next fiscal, industry body Assocham said.

Assocham surveyed a total of 171 Chief Executive Officers (CEOs) from the corporate sector, and found nearly 61 per cent of the CEOs saying that stimulating overall economic growth to 7 per cent is feasible in 2013-14.

India among top three fastest growing internet markets, study

India among top three fastest growing internet markets, studyAccording to a new study, India has emerged as one of the top three fastest growing internet markets in the world as more people get connected in the country.

The joint study by Indian industry body, Assocham and ComScore found that total number of internet users in the country is at about 125 million and the country is adding more than 18 million Internet users, recording a growth rate of about 41 per cent during the year.

Indian chocolate market to cross Rs 7,500cr-mark by 2015: study

Indian chocolate market to cross Rs 7,500cr-mark by 2015: studyRising chocolate consumption in urban and semi-urban areas of India will likely push the country's chocolate market above the Rs 7,500-crore mark by 2015, a study by industry body Assocham said.

As per Assocham (the Associated Chambers of Commerce & Industry of India), the Indian chocolate market is currently at around Rs 4,500-crore mark.

D S Rawat, secretary general of Assocham, said the consumption of chocolates is currently registering a compound annual growth rate of 25 per cent.

Industry backs move to criminalize private sector corruption

Industry backs move to criminalize private sector corruptionThe industry players in India are supporting a government's plan to make corruption in private sector a criminal offence in order to control the menace.

The Indian government is considering amending the Indian Penal Code (IPC) for making private sector bribery a criminal punishment with stricter punishment. The amendment will make both giving and taking bribery in private sector dealings, a criminal offense under the Indian law.

Firecracker demand falls 40 per cent this year, Assocham

Firecracker demand falls 40 per cent this year, Assocham According to a new study by industry body, Assocham, the demand for firecrackers in the country has fallen by a disappointing 40 per cent this Diwali season mainly due to increased concerns for the environment as well as increasing cost of raw materials.

Domestic ad budgets climb by 30%-40% in 2010-11

Domestic ad budgets climb by 30%-40% in 2010-11Going by the calculations made by the industry body Assocham, the ad budget in the domestic industry has gone up by at a rate of 30-40% for 2010-11.

While the industry body mentioned the fact that the improvement in the ad budgets is coming on the back of the improved demand, the body also said that as there is a vast majority in corporates that have hikes their ad budgets, it has come as a boon for the media industry.

India Inc to float IPOs worth more than Rs 16,000 crore: Assocham

Assocham A recently conducted study by Assocham reveals that India Inc has been working out IPOs worth more than Rs 16,000 crore this year, amid surge in stock market and signs of recovery shown by global markets. Information technology, infrastructure, hospitality and textile firms are gearing up to generate funds, according to the Assocham Financial Pulse (AFP) analysis.

Assocham demands import duty on Chinese power equipment

AssochamThe government has been asked to levy import duty on Chinese power equipment, by industry body Assocham, since the domestic industry is being hampered by the products from the neighboring country.

Via a statement, the chamber said: "Indian power equipment manufacturers are loosing thriving business opportunities vis-à-vis their heavily incentivised counterpart from China."

It added: "The only way out left to restrict the Chinese imports of power equipment to India is through the imposition of tariff and non tariff barriers by the Indian government."




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