Category Archives: ASSOCHAM

ASSOCHAM seeks Govt take the load of bank loan repayments of rural borrowers in drought areas

Government

As part of an immediate relief kit to the farmers and rural population suffering an oppressive drought, the government should take the load of their bank loan repayments upon itself, besides reaching food grains to the affected areas at highly subsidized rates, ASSOCHAM President, Mr Sunil Kanoria said .

Expressing a grave concern over a widespread rural … Read More

Study finds that India’s cost competitiveness in manufacturing vs Europe may decline15% by 2023

India’s cost competitiveness in manufacturing vis-à-vis Europe may decline from current level of about 44 per cent to 30 per cent by 2023 owing to growing labour costs, according to an ASSOCHAM-Roland Berger joint study.

“Manufacturing in India is currently 15 per cent cheaper than Europe but the cost difference is reducing due to increasing wages and… Read More

ASSOCHAM Reaction to the Wholesale Price Index for April 2016

Apex industry body ASSOCHAM stated that upward movement in wholesale price index (WPI) was likely due to the commitment shown by the Centre to support industry together with the recent Reserve Bank of India (RBI) policy stance to reduce interest rates to kick start investment and credit cycle.

“Price of products of national interest including pulses, food… Read More

Outbound Indian Tourists heading to Malaysia, Singapore , Thailand & Dubai

Aggressive tour operators offering packages for as low as Rs 25,000-Rs 30,000 combined with rising aspirations of the upper middle class families to travel abroad has led to a robust increase of 29 per cent in outbound Indian tourists this summer with Thailand, Malaysia, Singapore, Dubai and Maldives emerging as the top and affordable destinations for the… Read More

Service tax proposal on spectrum allotment will put Digital India & Smart Cities campaign at risk

The proposed 15 per cent service tax on all spectrum allotment by the Centre and spectrum transactions between licensees will place telecom industry in precarious financial position thereby putting at risk major government initiatives of Digital India, Smart Cities and rural penetration of data connectivity and services, apex industry body ASSOCHAM … Read More

Drought situation to cost 6.5 lac crores to economy: ASSOCHAM

Widespread drought  will impact the Indian economy at least by Rs. 6,50,000 crores (about US$ 100 billion) as about 33 crore people across 256 districts are facing the grave situation, an ASSOCHAM study has noted with concern.In the pre-monsoon season, weekly rainfall for the country as a whole during the last week of April, 2016 was 19% lower than Long Period… Read More

TN tops with 32% decadal growth in investments attracted by irrigation sector across India: Study

Tamil Nadu has ranked on top in terms of growth in live investments attracted by the irrigation sector thereby clocking a compounded annual growth rate (CAGR) of over 32 per cent during the decadal period 2004-05 and 2014-15, apex industry body ASSOCHAM said .

“Investments in irrigation sector attracted by Tamil Nadu from both private and public sources … Read More

Krishi Kalyan Cess needs reconsideration as it will push production costs further: ASSOCHAM

Apex industry body ASSOCHAM has suggested the Finance Ministry to reconsider imposition of Krishi Kalyan Cess at 0.5 per cent on all taxable services and also allow input tax credit of the cess to both providers of output services and manufacturers of excisable goods.“Cenvat credit of Krishi Kalyan Cess should also be extended to manufacturers of utilisation… Read More

ASSOCHAM-Forrester finds India`s e-tailing growth fastest across world

Being driven by a young demographic profile, increasing internet penetration and relative better economic performance, India’s E-Commerce revenue is expected to jump from USD 30 billion in 2016 to USD 120 billion in 2020, growing at an annual rate of 51%, the highest in the world, according to a joint ASSOCHAM-Forrester study paper.

While in terms … Read More

Indian logistics market to touch US$ 307 billion by 2020

Logistics market in India is expected to be worth US$ 307 billion by 2020, Mr. Ram Kripal Yadav, Minister of State for Drinking Water & Sanitation said at an ASSOCHAM event held in New Delhi .

India spends around 14.4% of its GDP on logistics and transportation as compared to less than 8% spent by the other developing countries, said Mr. Ram Kripal Yadav, Minister… Read More

Arunachal Pradesh to provide single-window clearance for Hydropower Generation

The Union Power Ministry is in process of preparing a framework for hydropower development in India and the same would soon be taken to the highest level in the government, a top ministry official said at an ASSOCHAM event held in New Delhi.
“We are preparing a framework for hydro development in this country, very soon we will take it up to the highest level in … Read More