PM Modi's call for a self-reliant India, free of its dependence on imports, means opportunity for the domestic industry. But there are many questions that need to be answered, writes Sai Manish
Over next 5 years, 77 per cent of firms looking to ramp up investments, 83 per cent to hire more
Texas, California, New Jersey, New York and Florida are home to the greatest number of workers in the US directly employed by the reporting Indian companies, the report said
"Getting growth back is our motto, too, as we reopen the economy. India will get its growth back," Prime Minister Narendra Modi said in his address
PM Modi will deliver the inaugural address on 'Getting Growth Back' via a virtual online meeting at the annual session CII
There was a huge decline in exports in April but "my sense is that in May, it will improve significantly", he said while speaking at CII's Export Summit
The industry should also strive to work towards the skilling of employees at all levels, CII quoted her as saying in a statement
A study of 450 MSME members revealed that govt departments including state depts owe them Rs 1,709 Cr, while private sector also owes about RS 110 crore
Industry bodies welcomed the new guidelines
Also, organisations across the world are uncertain about the whereabouts of their cash flows and business prospects
Most labourers are more concerned about getting on trains and buses to get back home, rather than returning to work
45 per cent of the CEOs polled feel it will take over a year to achieve economic normalcy once the lockdown ends
Industry body again raises calls for more fiscal stimulus through Rs 1.5 trillion fund and credit protection for MSMEs
The Confederation of Indian Industry (CII) in a paper - A plan for economic recovery - has laid out its growth expectation under three os and suggested "urgent" fiscal interventions
The CII has argued in favour of the government providing direct rations to affected populace rather than cash
The demand ranges from financial support to tide over liquidity issues to logistics and trade policy support
The demand comes in the wake of businesses and industry taking a hit as India entered the third week of the 21-day nationwide lockdown
Further, most firms (80 per cent) have claimed that their inventory was lying idle at present
"The expectations of this sharp decline in both revenue and profit growth by domestic firms could foretell the significant impact of this outbreak on GDP growth," CII stated.
The auditors cited issues such as physical verifications of inventories, fixed assets, balance confirmations, fair-value measurements, and going-concern assessments