GLOBAL SELLING BLOG

What is FICCI? Role, services, benefits, and registration guide

The Federation of Indian Chambers of Commerce and Industry is a leading organization representing Indian businesses. Learn more about its roles and functions.

Trade organizations play a crucial role in shaping a nation’s economic policies and fostering growth. The Federation of Indian Chambers of Commerce and Industry (FICCI) is one of the leading trade associations in India that serves as a vital conduit between the industry and the government, advocating for business interests and facilitating policy dialogue.¹

Through its extensive network and wide range of services, FICCI supports businesses in enhancing competitiveness, promoting sustainable practices, and expanding their global footprint. In this blog post, we will discuss the FICCI's role and function, the services it provides, and its membership application process.

What is the Federation of Indian Chambers of Commerce and Industry (FICCI)?

The Federation of Indian Chambers of Commerce and Industry (FICCI) is a non-government, not-for-profit organization that promotes and protects the interests of India’s business and industrial sectors. FICCI actively engages in shaping policy, fostering dialogue, and collaborating with key decision-makers and civil society members to address business concerns.²

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.

When was FICCI established?

The Federation of Indian Chambers of Commerce and Industry (FICCI) was established in 1927. It is the largest and oldest business organizations in India.³

Role and function of the Federation of Indian Chambers of Commerce and Industry (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. Some of its key functions and roles are as follows:

1. Promoting and preserving industry interests

FICCI advocates for the interests of Indian industries, ensuring their concerns are addressed at various levels.

2. Serving as a pressure group

FICCI works to influence government policy to bring about desired changes that benefit the business community.

3. Encouraging foreign trade and investment

FICCI promotes international trade and attracts foreign investment to bolster India’s economy.

4. Facilitating information sharing:

The organization fosters the exchange of information and expertise among its members to drive innovation and growth.

5. Assisting in joint ventures

FICCI helps establish joint ventures and cooperation agreements between Indian and international firms, facilitating global partnerships.

6. Organizing exhibitions and trade fairs

The organization hosts specialized exhibitions and trade fairs within India to showcase and promote various industries.⁴

Services provided by FICCI

Some key services provided by the FICCI are as follows:

1. Arbitration

The FICCI Arbitration and Conciliation Tribunal (FACT) provides arbitration services for the settlement of business disputes.⁵

2. B2B services

With its vast database of business directories, FICCI's Business Information Services Network (BISNET) regularly organizes one-on-one business meetings for visiting business delegations from other nations.⁶

3. Quality forum

The FICCI Quality Forum (FQF) focuses on quality improvement and cost optimization to address challenges posed by increasing customer expectations and aggressive global competition. FQF collaborates with government and private sector clients on initiatives to set and implement high service standards, enhance operational efficiency, and boost profitability.⁷

4. CSR

FICCI offers services to help organizations develop and implement their CSR (corporate social responsibility) goals.⁸

5. Sustainability leadership

The FICCI’s Center for Sustainability Leadership helps businesses achieve sustainability through appropriate strategies and implementation. The center supports businesses in adopting sustainable pathways through ecosystem-based approaches that promote sustainable production, consumption, and lifestyles.⁹

6. ATA & UN TIR Carnet

FICCI serves as the sole National Issuing and Guaranteeing Association (NIGA) for both the ATA Carnet and TIR systems in India. The ATA Carnet is a universally accepted customs document that facilitates the temporary admission of goods into 79 countries, including India, without payment of duties and taxes. The TIR system, based on a UN Convention, allows goods to move across international borders without additional checks, streamlining customs transit globally.¹⁰

7. Economic affairs and research

FICCI conducts applied research in economics, public policy, business, and management to facilitate policy formulation at both national and sub-national levels. It aims to ensure that industry opinions and perspectives are reflected in the consensus on developmental issues.¹¹

8. Resource conservation and management

FICCI's Resource Conservation & Management (RCM) division offers integrated technical consultancy services to industries, focusing on enhancing competitiveness through sustainable resource use. RCM specializes in energy transition, decarbonization, water conservation and neutrality, cleaner production, waste minimization, and improving occupational health and industrial safety. With a team of in-house experts and certified auditors, RCM conducts thorough industrial audits and resource conservation projects.¹²

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 representation at various levels of government.
· Access to FICCI thought-leadership initiatives.
·Access to industry-specific initiatives to promote growth and development.
· Opportunity to participate in various national and international delegations, conferences, seminars, and trade fairs.
· Access to FICCI publications and reports on various aspects of the economy and industry.
· Discounts on delegate fees, exhibitions, and auditorium infrastructure facilities.¹³

Documents required for membership of FICCI

To become a member of the Federation of Indian Chambers of Commerce and Industry (FICCI), several documents are required. Some of these may include the following:

● A duly filled membership application form.
● A brief profile of the applicant company.
● The company's annual report or audited financial statements for the last two years.
● A self-attested copy of the company’s Certificate of Incorporation.
● A self-attested copy of the company's Memorandum and Articles of Association.
● A demand draft or cheque for the applicable membership fee.
For more detailed information and to access the application forms, visit the FICCI membership section on their official website.¹⁴

How to apply for FICCI membership?

Applicants can follow these steps to apply for FICCI membership:

Step 1:

Visit the organization’s website and navigate to the membership application form.

Step 2:

Fill the application form with details such as name and type of business, contact details, and other relevant information.

Step 3:

Once the application is submitted, FICCI will review it and notify the applicant of their membership decision.¹⁵

Conclusion

In conclusion, the Federation of Indian Chambers of Commerce and Industry (FICCI) is instrumental in driving economic growth, influencing policy, and fostering collaboration across various sectors in India. Its extensive range of services and initiatives provides businesses with invaluable support, resources, and networking opportunities.

E-commerce exporters, in particular, can benefit from FICCI's reach and range of services, as it can help them expand their global reach and connect with key stakeholders. For additional guidance and support on e-commerce exports, exporters can leverage the tools and services offered by e-commerce export programs like Amazon Global Selling.

Amazon Global Selling: Your passport to easy exports

Amazon Global Selling – an ecommerce export 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.

Frequently Asked Questions

What is the function of FICCI?

FICCI is a non-governmental, non-profit organization that serves as a leading voice for India's business community, advocating policies conducive to economic growth, trade, and investment. It facilitates networking opportunities, provides research insights, and engages in policy dialogues to foster a favorable business environment.

What is the fee for FICCI startup membership?

Depending on the membership type, the FICCI membership fee can include various components such as an admission fee, annual membership fee, or lifetime membership fee. Interested applicants can refer to the FICCI website for more information on their specific membership type and related fee structure.

Published on April 17, 2023.

Sources:
1. https://www.ficci.in/api/about#
2. https://www.ficci.in/api/about
3. https://www.ficci.in/api/about
4. https://www.pw.live/exams/commerce/ficci-full-form/#
5. https://www.ficci.in/api/service_details/48
6. https://www.ficci.in/api/service_details/45
7. https://www.ficci.in/api/service_details/52
8. https://www.ficci.in/api/service_details/66
9. https://www.ficci.in/api/service_details/153
10. https://www.ficci.in/api/service_details/44
11. https://www.ficci.in/api/service_details/75
12. https://www.ficci.in/api/service_details/32
13. https://ficci.in/public/frontend/images/FICCI-Membership-BROCHURE-2023.pdf
14. https://ficci.in/api/membership_new
15. https://ficciforstartups.org/membership-form.asp

What is international trade: All you need to know about its importance and advantages

Export Inspection Council: All you need to know about its role in India

Found this blog informative? Share it with your network