FICCI – Meaning , Functions , Services and its advantages
FICCI means Federation of Indian Chambers of Commerce and Industry. In 1927 on the articulation of Mahathma Gandhi to have an organization that collectively represents the Indian business entities Ghanshyam Das Birla along with Purshottamdas Thakurdas has established FICCI.
Having its history interwoven with India’s struggle for independence FICCI has emerged as the India’s oldest and apex association of business organization. FICCI has a huge membership about 3, 00,000 directly and indirectly including Public and Private sector companies, MNCs, SMEs and Industry Associations. FICCI’s headquarters are located in National capital New Delhi.
Being a non-government, non-profit organization, FICCI stands as the voice of India’s business organizations and industry.
Functions of FICCI:
1. 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 FICCI influences the policies by way of articulating the views and suggestions of industry.
2 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.
3 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.
4 Conducts various programs and events:
Conducts workshops, seminars, business meets and conferences to discuss, debate various upcoming and existed policies of the government.
5 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.
6 Assists its members:
Assist its members in the areas of policy improvement, suggestions to the management.
7 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.
8 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.
FICCI’s membership is open to all the business organizations irrespective of public or private, small or big, service or manufacturing. Currently FICCI has more than three lakh members joining from various industries directly and indirectly. One can become a member using www.ficci.com/member-become.asp
Benefits to the member organizations:
- Member organizations can participate in Exhibitions, Trade Fairs, Conferences, Seminars and workshops conducted by FICCI.
- They can access FICCI’s information library such as reports on various policy researches, knowledge papers and periodical journals.
- Members can participate in formulating economic & industrial policies through close linkage with the Government.
- As a member of the large business networking community one can work with other players in the industry to achieve the maximum results.
Services offered by FICCI:
FICCI offers following services:
- Business to business (B2B) solutions
- Technology commercialization
- Management and conservation of resources
- Initiate actions to promote entrepreneurship and professional excellence in women trough FICCI Ladies organization
- Water audit service
- Consumer care