Hyderabad : The Federation of Telangana Chambers of Commerce and Industry (FTCCI), which has been officially launched in Hyderabad, witnessed the FTCCI signing and exchanging a MoU with NALSAR University of Law for setting up of International Centre for Alternative Dispute Resolution. The MoU has been signed with NALSAR University and the copies were exchanged between FTCCI and Faizan Mustafa, vice-chancellor of NALSAR University of Law.
Speaking on the occasion Mustafa said, “This 3,500 sq feet centre will facilitate and help the members on alternative dispute resolutions.” On the official launch of FTCCI, Karunendra S Jasti, president, said, “The Chamber of Commerce was established in 1917. This Federation was first conceived as a Chamber of Commerce representing the entire old State of Hyderabad. This included parts of the present Karnataka, Maharashtra as well as all the Telugu-speaking Districts of the old Nizam’s dominions.
The year 1956 saw the formation of the Linguistic State, Andhra Pradesh, and the name was changed to ‘The Federation of Andhra Pradesh Chambers of Commerce and Industry’ in 1958. It started functioning with representation from the entire State. The Federation gradually evolved into an apex organisation representing large, medium and small scale industries and became one of the largest chambers in the Country”. “After the bifurcation of the erstwhile Andhra Pradesh into two States viz, Telangana and Andhra Pradesh in 2014, the name was altered to “The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI)”, effective from January 14, 2015.
The name was subsequently changed to the “Federation of Telangana Chambers of Commerce and Industry” (FTCCI) to play more active role in the economic development of the Telangana State. We are submitting a detailed memorandum to the Telangana Government on pertinent and burning issues regarding industry incentives, trade licenses, power, HMDA etc on behalf of the trade and industry”, Jasti added. (NSS)