Ficci panels to help India Inc in M&As

NEW DELHI: To help India Inc explore new opportunities abroad, fulfil social obligations at home and institutionalise the unorganised sectors, the Federation of Indian chambers of commerce and Industry (Ficci) has set up 10 new committees and two missions.

The committees will oversee globalisation, FDI, corporate social responsibility (CSR), primary education, water and the business of art. The chamber has set up a mission called ‘Globalising India’.

“Our committee will evaluate risks and challenges in the international arena and help corporates deepen their footprints in the global market.The effort will be to evolve a strategic and coherent way of looking at the world and explore opportunitiesthat have remained untappedso far,” said Ficci president Habil Khorakiwalla.

The mission is headed by All India Management Association president Subir Raha, who has led several investments abroad as ONGC chief .

Convinced of the greater role of FDI in growth story, it has set up a committee on FDI to be led by Thomas Cook (India) chairman Udayan Bose.

IDFC Private Equity chairman and former bureaucrat Dr Vijay Kelkar will head a committee on economic affairs, whose brief would be to understand the country’s long-term economic needs and help evolve intellectual and policy capabilities for the purpose.

An interesting part of this expansion is the setting up of a committee on Art and Business of Art, chaired by Rakhi Sarkar, director of CIMA gallery, one of the largest Art galleries in India. “This area needs nurturing. If we don’t work on it now, it will remain unorganised. Our aim is to institutionalise it and help all stakeholders grow,” points out Mr Khorakiwalla.

Ficci is equally concerned about India Inc’s social responsibility and wants to smoothen their effort towards development. It is setting up committee on CSR & Community Development to be headed by Aditya Birla Group director Rajashree Birla, mother of chairman Kumar Manglam Birla. “We will be the bridge between corporates who are committing funds and projects on the ground and the NGOs which are the implementing agencies. We would evaluate project feasibility and help corporates partner NGOs in pursuing their social agenda,” says Mr Khorakiwalla.

Ficci has also set up committees on primary education, urban planning and a mission on water. A panel has been formed under Ernst & Young CEO Rajiv Memani which would emphasis on corporate governance. Committees on communication and advertising and marketing have also been formed under former Britannia chief Sunil Alagh and O&M executive chairman Piyush Pandey respectively.