FICCI

8th January 2022 0 By indiafreenotes

The Federation of Indian Chambers of Commerce & Industry (FICCI) is a non-governmental trade association and advocacy group based in India. Established in 1927, on the advice of Mahatma Gandhi by Indian businessman Mr. G.D. Birla and Purshottamdas Thakurdas. It is the largest, oldest and the apex business organisation in India. It is a non-government, not-for-profit organisation. FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs. The chamber has an indirect membership of over 250,000 companies from various regional chambers of commerce. It is involved in sector-specific business building, business promotion and networking. It is headquartered in the national capital New Delhi and has a presence in 12 states in India and 8 countries around the world.

FICCI is India’s sole national issuing & guaranteeing association for ATA Carnets ATA Carnets are used by TV/Film crews, journalists, engineers, musicians and industry for temporary moving equipment across borders. FICCI issues and endorses carnets, guarantees the payment of duties and taxes to customs (both domestic and foreign) authorities.

Functions:

Jointly works with similar associations of foreign countries:

Works with joint business councils and private industrial alliances situated across the globe in the areas of trade enhancements, industry partnerships to voice the opinion of the Indian industry on global forum.

Role in policy making:

FICCI plays a pivotal role in formulation of economic and finance policies. By engaging with the policy makers, government and civil society Federation of Indian Chambers of Commerce and Industry influences the policies by way of articulating the views and suggestions of industry.

Provides guidance and education:

Provides guidance and education to its member organizations by way of publishing informative journals useful to the business community. And acts a conflict resolver among them by way of mutual discussion on the problems.

Assistance to government:

Assist the government in the areas of the trade negotiations with foreign countries and sends their experienced personnel to the abroad to study the economy and business environment.

Conducts various programs and events:

Conducts workshops, seminars, business meets and conferences to discuss, debate various upcoming and existed policies of the government.

Assists its members:

Assist its members in the areas of policy improvement, suggestions to the management.

Invites and arrange the talks with foreign business delegates:

Plays crucial role in inviting foreign business delegations of public and private levels which are very vital in improving the foreign trade and foreign investment.

Provides information on exports:

Provides credible and valuable information on potentials and new developments in foreign trade by studying the trade environment and imports regulations of many foreign countries.