The Federation of Indian Chambers of Commerce and Industry is an association of business organisations in India. Headquartered in the national capital New Delhi. FICCI is one of the main organizations to fund and support many governmental and non-governmental educational institutes. It was founded by GD Birla and Purushottam Takkur in 1927,on the advice of Mahatma Gandhi.
FICCI plays a leading role in policy debates that are at the forefront of social,economic and political change. Through its 400 professionals, FICCI is active in 39 sectors of the economy. it has joint business councils with 79 countries around the world.
Objective of FICCI:
FICCI is one of the apex organizations to which a large number of chamber of commerce and industrial associations are affiliated. It was founded in 1927 as the national forum through which the affiliated units could collectively present their views on current economic problems. FICCI has various chambers of commerce and industrial associations and also acts as a coordinating agency for the commercial and industrial interests.
Membership of FICCI:
It started with membership of 24 chambers of commerce and industrial association in 1927. The federation had on 31st December,1979,435 ordinary members,723 associate members,4 overseas members and 6 honorary members. The ordinary members consist of chamber of commerce,trade associations and industrial association. the associate members consist of manufacturing companies,banking concern and insurance and shipping companies. The overseas members consist of Indian chambers of commerce operating in foreign countries.
The ordinary member pay Rs/-500. The subscription of the associate members in determined on the basis of their turnover ranging from rs/-1,500-rs/-10,000. Chambers of commerce in the mofussil areas and educational institutions can become members by paying Rs/-50 per annum.
Finance of FICCI:
The main source of income of the federation is the subscription fee paid by the members. For the year 1979,the income was Rs/-63,02,316 out of which Rs/- 38,27,150 came from the subscription fees. The expenditure for the same year was 63,02,316. The main item of expenditure was establishment (Rs/- 27,09,834).