To represent various industries such as manufacturing, services, and trade, the government has established many organizations and apex trade bodies. These bodies regulate the functioning of respective industries and promote economic growth and development. The Federation of Indian Chambers of Commerce and Industry (FICCI), established in 1927, is one such apex body.
What is the Federation of Indian Chambers of Commerce and Industry (FICCI)?
The Federation of Indian Chambers of Commerce and Industry (FICCI) promotes and protects the interests of Indian businesses, both domestically and internationally. It works closely with the government and other stakeholders to address issues impacting the business community and focuses on areas such as trade and investment, infrastructure, energy, education and skill development, healthcare, and agriculture. It has over 7,000 members across India, and is actively involved in policy advocacy, research, and training1.
Function and role of FICCI
The Federation of Indian Chambers of Commerce and Industry (FICCI) plays a crucial role in shaping India’s economic policies and promoting its growth and development. Here are some of its key functions and roles2:
FICCI India works closely with the government and other stakeholders to identify and address issues of the Indian business community. It advocates for policies that are conducive to economic growth and development.
Research and training:
FICCI India conducts research on various industries and provides training to its members to enhance their skills and knowledge.
Promoting trade and investment:
The role of FICCI includes promoting trade and investment between India and other countries. It also provides information and support to Indian businesses seeking to expand their presence in international markets.
FICCI India hosts conferences, seminars, and other events to promote networking among its members and other stakeholders. This helps to foster business partnerships and collaborations.
FICCI India takes initiatives in specific industries such as healthcare, education, and agriculture to promote their growth and development.
Documents required for membership of FICCI
To become a member of the Federation of Indian Chambers of Commerce and Industry (FICCI), some of the documents required are3:
· Duly filled membership application form
· Certificate of incorporation or registration
· PAN card of the company
· Memorandum and Articles of Association (MOA and AOA)
· Profit and loss statement and latest audited balance sheet
· Letter of authorization from the authorized signatory of the company
Depending on the type of membership, documents required might vary.
How to apply for FICCI membership?
To apply for FICCI membership, interested exporters or businesses can visit the organization’s website and fill out the membership application form. The form requires details such as name and type of business, contact details, and other relevant information. Once the application is submitted, FICCI will review and notify the status of membership.
Benefits of FICCI membership
Here are some of the key advantages of FICCI membership:
· Access to a vast network of businesses and industry leaders
· Policy advocacy and representation at various levels of government
· Training opportunities to improve skills and knowledge
· Industry-specific initiatives to promote growth and development
· Participation in various conferences, seminars, and trade fairs, among others
· Access to FICCI publications and reports on various aspects of the economy and industry
· Opportunities for business delegations and trade missions to other countries
Organizations working closely with FICCI
The Federation of Indian Chambers of Commerce and Industry (FICCI) works closely with various organizations to promote economic growth and development in India5:
· Confederation of Indian Industry (CII)
· Associated Chambers of Commerce and Industry of India (ASSOCHAM)
· Indian Council of Arbitration (ICA)
· Quality Council of India (QCI)
· National Productivity Council (NPC)
· Indian Society of Agribusiness Professionals (ISAP)
· Indo-German Chamber of Commerce (IGCC)
· Japan-India Business Cooperation Committee (JIBCC)
The Federation of Indian Chambers of Commerce and Industry (FICCI) plays a vital role in promoting economic growth and development in India. It also promotes international trade. FICCI membership offers various benefits for businesses, including access to a vast network of businesses, policy advocacy and representation, research and training, and industry-specific initiatives. While exporters can register themselves with FICCI for such benefits, they can also sell internationally by registering with Amazon Global Selling.
Amazon Global Selling: Your passport to easy exports
Amazon Global Selling
– an e-commerce exports program – enables Indian exporters to reach hundreds of millions of Amazon customers shopping on its international marketplaces like Amazon USA, UK, UAE, etc. Simplifying international trade
, the program provides support at every step from registration to logistics
and compliance, allowing Indian exporters to sell their products
worldwide. With Amazon’s fulfillment
centers and distribution channels, businesses can reach new customers across 200+ countries and territories.
Published on April 17, 2023.