COMMERCE

Naina Lal Kidwai became the First Woman President of FICCI

Naina Lal Kidwai on 15 December 2012 took over as President of FICCI (Federation of Indian Chambers of Commerce and Industry), becoming the first woman to head the leading industry body. Kidwai, is the first woman and professional manager to be elected as President of the chamber. She is 55 years old.  Chairman of Digjam Ltd, Sidharth Birla was elected as Senior Vice-President of FICCI.

Kidwai succeeded R V Kanoria of Kanoria Chemicals & Industries Ltd. Chairman of Xpro India Ltd. Naina Lal Kidwai is the Country head of HSBC India and Director of HSBC Asia Pacific.

Shourya Mandal has been elected as the National President of the Indo-American Chamber of Commerce (IACC) for the 2012-13 term. Last year, DSK Legal Managing Partner Anand Desai was holding this post.

Rs 35,000 Cr debt restructuring package for textile sector

The Centre agreed upon a Rs 35000 crore debt restructuring package to the textile sector. Step is taken to support the textile industry in this moment of crisis. Govt would issue directives to Banks to consider restructuring on priority and case to case basis. The Finance Ministry would examine, in consultation with RBI, a 2-year moratorium on term loans, special provision in NPA norms to avoid asset reclassification and working capital eroded to be converted into working capital term loans repayable over a period of 3-5 years.