FICCI Full Form
FICCI means Federation of India Chambers of Commerce and Industry. It is a non-government and non- profitable trade organisation that promotes India's business and industry.
FICCI was founded in 1927 by the leading industrialist GD Birla and Purshottam Das Thakurdas on the suggestion of Mahatma Gandhi. It was that time when India was struggling for independence and industrialization. So, to promote India’s economy and support its independence and industrialization, Federation of India Chambers of Industry (FICCI) was launched, as it also criticized colonial control over the Indian economy and supported the Civil Disobedience Movement. It is the oldest, largest and the top business organisation of India. FICCI headquarter is in New Delhi. The company has 300 employees and over 250,000 companies as its members. Dilip Chenoy is the secretary general and Uday Shankar is the president of FICCI. Its services include business promotion, networking and policy reformation. The purpose of the organization is policy advocacy.
The role and function of FICCI are; it conducts various programs and events as every year it organizes several conferences, seminars, workshops and summits to analyse the existing and upcoming policies. It conducts surveys and provides reports, research papers and analysis of all sectors related to the economy. FICCI also issues ATA carnet as the company is appointed by the Government of India as National Issuing and Guaranteeing Association (NIGA). ATA carnet allows businessmen for the tax - free and duty - free temporary export and import of goods for upto one year. FICCI jointly works with several organisations in India as well as in foreign countries and provides guidance, education and information on exports.
FICCI Allied Organizations and their works are following:
- FICCI established the Confederation of Indian Food Trade and Industry (CIFTI) in 1985 which provides institutional and other support to the government and private sector to promote and develop the Indian food processing industry.
- The company has also established an arbitration and conciliation tribunal (FACT) in 1952.Here its role is to set or solve commercial business disputes.
- FICCI has set up Alliance for Consumer Care (FACC) along with the Department of Consumer Affairs, Government of India to enhance consumer care practices.
- It established the Ladies Organization in 1983, to promote women’s empowerment. The organisation helps them in becoming an entrepreneur and getting excellence in that respective area.
- The Confederation of Micro, Small and Medium Enterprises (CMSME), an affiliated body of FICCI, was established in December 2013. It works the same as FICCI, only the difference is that it focuses on Micro, Small and Medium enterprises in India.
- It has started a joint initiative with Aditya Birla Group as Aditya Birla CSR Centre for Excellence which aims at development of inclusive and holistic CSR practice.
- The Committee Against Smuggling and Counterfeiting Activities Destroying Economy ( CASCADE) was launched by FICCI on 18 January 2011.
- FICCI has launched Millennium Alliance, in July 2012 jointly with the Department of Science & Technology, Government of India and the United States Agency for international development, aiming to support and scale up low- cost, innovative solutions.
- It has also started Invest India, which is a public- private partnership between Government and FICCI, aiming to foreign investment projects in India for improving domestic investments.
- FICCI has started an Accelerated Technology Assessment and Commercialization (ATAC) program with DRDO. Bio- Toilets based upon Bio- Digester technology developed by DRDO, being commercialized under the program.
Further, the membership of FICCI is open to all business organizations like, public, private, big, small etc. It gives several benefits to the member organizations like; they can participate in the events organized by FICCI, as well as can use the library for information about policies, papers and journals. They can also work with the other team of industry for their progress and development.
So, FICCI plays a vital role in India’s economy as well as the development and progress of the country. As in the present pandemic scenario, various requirements in the medical sector and in the digital marketing have increased, the company is taking initiatives to make these sectors stronger as well as fulfilling their requirements like, they started certification online training program on “Digital Marketing” and doing investments in pharmaceutical companies as well.