CII to create a ‘National strategy for future business’ along with DPIIT

Confederation of Indian Industry (CII) will create a ‘national strategy for future businesses’ together with the Department for Promotion of Industry and Internal Trade (DPIIT).  Future Business Group (FBG) which is an initiative by the CII will provide support to new business. The group will also provide policy inputs, identify new growth segments and establish international partnerships with a focus on growing such businesses. CII also suggested that the government should invite other nations to participate. Senior business leaders were called upon to become mentors, not only to their own family or businesses but also to the new age & young entrepreneurs.

Future Business Group (FBG)

FBG has been constituted to support the emergence of new-age businesses, attract global investment in new businesses in India. It will also foster government-industry cooperation to help develop new policies to support the innovative businesses. The theme of this group is ‘Nurturing the existing new businesses and fast-tracking the entry and growth of new businesses in India for getting growth back”. FBG will dedicate itself to encourage the spirit of innovation and entrepreneurship. It will guide and steer the new comers to rise to the unicorn.

Confederation of Indian Industry (CII)

CII is a non-government, not-for-profit, industry-led and industry-managed organization, with about 9100 members from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 300,000 enterprises from 288 national and regional sectoral industry bodies.It works to create and sustain an environment conducive to the development of India, partnering industry, Government and civil society, through advisory and consultative processes. CII has been working on shaping India’s development journey for 125 years. CII would soon launch the Global Unicorn series under the auspices of Soft Bank India with the participation of unicorns from USA, EU, Japan, Australia, Singapore, Israel and South Korea to share their journey to glory.

Month: Current Affairs - September, 2020