ASSOCHAM

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is a non-governmental trade association and advocacy group based in New Delhi, India. The organisation represents the interests of trade and commerce in India, and acts as an interface between issues and initiatives.[2] The goal of this organisation is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.[3][4]

Associated Chambers of Commerce and Industry of India
Formation1920 (1920)
TypeNon-governmental trade association
PurposePolicy advocacy
HeadquartersNew Delhi, India
Members
over 250,000 companies
Secretary General
Deepak Sood
President
Ajay Singh (entrepreneur)
Key people
Sumant Sinha (President)[1]
Websitehttps://www.assocham.org/

Background

ASSOCHAM was established in 1920 by a group of chambers of commerce led by the Calcutta Traders Association.[5] The Association's head office is located in New Delhi and regional offices are located in the cities of Ahmedabad, Bengaluru, Ranchi, Jammu, Chandigarh and Kolkata. As of 2019, ASSOCHAM covers a membership of over 4.5 lakh companies and professionals across the country.[6]

ASSOCHAM members represent the following sectors:

  • Trade (national and international)
  • Industry (domestic and international)
  • Professionals (e.g., CAs, CSs, CMAs, lawyers, consultants)

The association has appointed Vineet Agar, the managing director of Transport Corporation of India, as its new president to replace Niranjan Hiranandani in 2021.[7][8]

In 2021 the association held a virtual summit by the name of Xelerate North, where the Himachal Pradesh Industries Minister Bikram Singh and others were invited to discuss industry issues.[9]

Committees

ASSOCHAM operates 59 Expert Committees, 10 state councils and 11 International Councils that provide an interactive platform to members for interaction and aid formulating policy recommendations to facilitate economic, industrial and social growth. The association has a special role in promoting international trade, and often hosts international trade delegates to India, along with sending delegations of Indian business groups to foreign locations. It also interacts with international counterpart organisations to promote bilateral economic issues. ASSOCHAM is a member of the International Chamber of Commerce, the World Business Organisation, through ICC, India.

ASSOCHAM is authorised by the Government of India to issue Certificates of Origin, certify commercial invoices, and recommend business visa.

References
  1. Team, BS Web (28 March 2022). "Sumant Sinha takes over as ASSOCHAM President; Ajay Singh as Senior V-P". Business Standard India.
  2. "ASSOCHAM". Thomson Reuters.
  3. "Welspun Group Chairman Balkrishan Goenka is new Assocham president". The Economic Times. 17 October 2018. Retrieved 7 January 2019.
  4. Aggarwal, Vinod K; Koo, Min-Gyo (2008). Asia's New Institutional Architecture : Evolving Structures for Managing Trade, Financial, and Security Relations. Heidelberg: Springer. p. 243. ISBN 978-3-540-72388-2.
  5. "Associated Chambers of Commerce and Industry of India". Britannica. Archived from the original on 20 September 2015.
  6. "UP fourth on foreign tourist arrival in India: Assocham". Times of India. 26 September 2013.
  7. Shenoy, Jaideep. "Vineet Agarwal takes over as new Assocham president - Times of India". The Times of India.
  8. "Vineet Agarwal Appointed As ASSOCHAM President". humancapitalonline.
  9. "ASSOCHAM holds Xelerate North 2021 to discuss industry issues". TheFactNews. 25 September 2021.
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