FICCI Full Form – What Is FICCI, Definition, Meaning, Uses

FICCI Full Form Friends, in this article, we’ll look at the full form of the FICCI. FICCI is a commercial group that claims to be a conglomerate of Indian business associations. It is regarded as the country’s largest and oldest apex business group, and has been able to closely observe the country’s war for independence, rapid economic growth, and industrialization. In 1927, GD Birla and Purushottam Das Thakurdas established the FICCI. However, Thakurdas built it on the advice of M.D. Gandhi. The FICCI’s headquarters are in New Delhi, India.

FICCI Full Form

FICCI’s full form is “Federation of Indian Chambers of Commerce and Industry“. The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of Indian business organizations based in New Delhi. FICCI is a major funder and supporter of several governments and non-government educational institutions. Let’s move on to some more general information.

FICCI: Federation of Indian Chambers of Commerce and Industry

FICCI Full Form
FICCI Full Form

The Federation of Indian Chambers of Commerce and Industry (FICCI) is a federation of Indian business groups, which was founded in 1927 by GD Birla and Purushottam Das Thakurdas on Mahatma Gandhi’s recommendation. It is India’s oldest and most powerful commerce organization.

FICCI is India’s largest and oldest business association. Its history is inextricably linked to India’s struggle for independence, industrialization, and rise to become one of the world’s fastest-growing economies. FICCI is the primary port of call for Indian industry, policymakers, and the foreign business community, providing a venue for networking and consensus-building across all sectors.

What exactly is FICCI?

The Federation of Indian Chambers of Commerce and Industry (FICCI) is a trade association in India. It is India’s oldest and largest top business group, having closely followed the country’s struggle for independence, industrialization, and rapid economic growth. FICCI was founded in 1927 by GD Birla and Purushottam Das Thakurdas on Mahatma Gandhi’s proposal.

The company’s headquarters are in New Delhi, India. Mr. Sandeep Somani is the Chairman and Uday Shankar is the Senior Vice President of FICCI as of August 2019. FICCI is an Indian business confederation whose membership is open to both private and public sector businesses. It is a non-profit, non-governmental organization dedicated to promoting Indian industry and trade.

It works with policymakers and civil society to communicate the industry’s concerns and issues. It also serves as a forum for networking and consensus building both inside and across sectors and is the first point of contact for policymakers, Indian industry, and overseas business. It also helps and sponsors educational institutions in India, both public and private.

FICCI’s Major Functions

  • It performs economic research and encourages scientific research for industry and commerce development.
  • It encourages and supports technical and vocational education.
  • It is in charge of distributing information to the business sector by publishing magazines.
  • It offers its members access to a library.
  • It seeks to strengthen the competitiveness of the Indian industry by offering quality improvement advice and information.
  • It hosts seminars, conferences, and workshops on topics of importance to the business community.
  • It also uses arbitration to settle conflicts between member organizations.
  • It arranges for business delegations to travel abroad to investigate international investment opportunities and engages in the negotiation of bilateral trade agreements.
  • The Federation of Indian Chambers of Commerce and Industry (FICCI) is a trade association in India. Purushottamdas Thakurdas, an organization based on Mahatma Gandhi’s works, and Ghanshyam Das Birla, an organization representing Indian commercial organizations, created FICCI in 1927.
  • India has evolved as the oldest and highest trade organization after injecting its history with India’s struggle for FICCI. FICCI has roughly 3,000 direct and indirect members, which include governmental and private sector companies, international corporations, SMEs, and industry groups. FICCI’s headquarters are in New Delhi, the nation’s capital.
  • FICCI serves as the voice of India’s business groups and industry as a non-profit, non-governmental organization.
  • FICCI engages policymakers, government, and civil society to impact policies by communicating FICCI, industry viewpoints, and proposals.

The following services are provided by FICCI

  • Arbitration
  • B2B (business-to-business) solutions
  • commercialization of technology
  • Water inspection service
  • Consumer Protection
  • Resource management and conservation

The Federation of Indian Chambers of Commerce and Industry is a federation of Indian trade groups dedicated to promoting global competitiveness and the growth of Indian businesses. It is India’s oldest and largest business association, with thousands of firms, chambers of commerce, trade organizations, and other organizations as members.

FICCI has an impact on the Indian government’s economic policies via hosting debate forums for economists, civil employees, and business leaders, as well as through informal consultations with government planners and policymakers.

FICCI also offers it’s business members practical guidance and information, as well as services and networking opportunities. It is based in New Delhi and has offices throughout India as well as internationally.

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