FICCI (Syllabus: GS Paper 3 – Economy)
Context: Recently, the Vice-President of India emphasized that empowering women is an investment in both the present and future of the world, while speaking to members of the FICCI Ladies Organisation (FLO) at Bharat Mandapam, marking the culmination of 40 years of the organization.
Federation of Indian Chambers of Commerce and Industry (FICCI)
- About: It was established in 1927 by a group of Indian entrepreneurs led by Mahatma Gandhi.
- Objective: The organization was formed with the aim of safeguarding and advancing the interests of the indigenous business community in India.
- Role in Economic Transformation: FICCI has been instrumental in driving significant changes in India's economy since its inception.
oThrough active engagement in public policy advocacy, FICCI has influenced major industrial policies, contributing to the nation's economic development.
- Headquarters: New Delhi.
- Global Presence: FICCI has a global footprint with branches and affiliations in countries such as the United States, Germany, and the United Kingdom, among others.
- Functions
oThe Federation of Indian Chambers of Commerce and Industry primarily aims to advance and safeguard the interests of the industry in India.
oIt acts as a lobbying force to influence government policies in line with industry requirements.
oFacilitating foreign trade and investment is another key function.
oIt fosters the exchange of knowledge and skills among its members.
oThe federation aids in the formation of joint ventures and collaboration agreements between Indian and global companies.
