FTCCI, which was officially launched in Hyderabad, has witnessed the FTCCI signing and exchanging an MoU with NALSAR University of Law for establishing an International Centre for Alternative Dispute Resolution. This is stated to be operated by the end of 2019.
MoU signed with the NALSAR University and exchanged the copies between Faizan Mustafa and FTCCI. Faizan Mustafa is the vice-chancellor of the NALSAR Univerisity of Law. On occasion, he stated that “This 3,500 sq feet center at the FTCCI House will facilitate and help the members on alternative dispute resolutions. Resolving disputes out of the court needs an institutional mechanism. Alternative dispute resolution cannot be provided unless a law school is on the board. NALSAR is today the best law school in the country, and it was right for FTCCI to approach us to create this facility. We will have a permanent staff. This center could also collaborate with such centers in the country. We expect this center to be operational in the next three months”.
Further, the [president of FTCCi – Karunendra S Jasti added that “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 former 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 organization representing large, medium, and small scale industries and became one of the largest chambers in the country.”
After the state bifurcation into two states – Andhra Pradesh and Telangana, the name was altered to “The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI),” which was active from January 14, 2015.
Similarly, the name was renamed to the Federation of Telangana Chambers of Commerce and Industry (FTCCI). This is to play a major role in the economic development of the state. A detailed memorandum is submitted to the Telangana Government on pertinent and raising issues based on trade licenses, incentives, HMDA, power, etc.
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