The US-India bilateral relations had seen a downward spiral in last few months which has been further compounded with negative sentiments on commercial issues. In an effort provide an agenda to the new Indian government on resolution of many of these thorny issues in the commercial space, FICCI leadership met with the top CEOs of US companies based in India.
Amidst high expectations for much-needed revival of the economic growth, the BJPs focus in its election manifesto on giving a boost to economy, rationalising and simplification of taxation and restoring investor confidence would be a morale booster, said the Associated Chamber of Commerce and Industry of India (Assocham).
Lobbying and corporate advocacy should be made absolutely legal as India has come a long way on path to economic liberalization where conflicting interests are bound to and be legitimately allowed to compete for the policy space and regulatory issues, based on sound and fair economic logics, the Assocham has said.
Results of FICCI's latest Economic Outlook Survey point towards an improvement in economic growth in the year 2014-15. The GDP growth for the year 2014-15 is projected at 5.5%. The participating economists expect the industrial sector to also recover in the next fiscal with an estimated growth of 3.3%. The forecast for agriculture and services sector growth in 2014-15 have been placed at 3.3% and 7.0% respectively.