What is the full form of FICCI

FICCI: Federation of Indian Chambers of Commerce and Industry

FICCI stands for Federation of Indian Chambers of Commerce and Industry. It is the oldest and largest apex business organisation in India. It has closely witnessed India's struggle for independence, its industrialization, and the rapidly growing economy of India. FICCI was established in 1927 by G.D Birla and Purushottam Das Thakurdas on the recommendation of Mahatma Gandhi. It is headquartered in New Delhi, India. As of August 2019, Mr. Sandip Somany is the president and, Uday Shankar is the Sr. Vice President of FICCI.

FICCI is an association of business organizations in India; membership is open to all Private and Public sector companies. It is a not-for-profit, non-government organization and is a great support to India?s industry and business. It coordinates with policymakers and civil society and articulates the views and issues of industry. Furthermore, it provides a platform for networking and consensus building within and across sectors and is the first port of call for the policymakers, Indian industry, and the international business community. It also supports and funds the government and non-government educational institutes in India.

Major Functions of FICCI:

1. It conducts economic research and promotes scientific research for the development of industry and commerce.
2. It supports and promotes business and technical education.
3. It is responsible for publishing periodicals for the dissemination of information for the business community.
4. It offers library facilities for its members.
5. It works to improve the competitive strength of Indian industry by providing advice and information on quality improvement.
6. It conducts seminars, organizes conferences, and workshops on important matters related to the business community.
7. It organizes foreign trips of trade delegations to explore foreign investment and takes part in the negotiation of bilateral trade agreements.
8. It also resolves disputes among member organizations through arbitration.