Bombay Chamber of Commerce and Industry

The Chamber was founded in 1836 by seven Britishers and three Parsees “to encourage a friendly feeling and unanimity among commercial men on all subjects involving the common good, to promote and protect the general mercantile interests of this [Bombay] Presidency, to collect and classify information on all matters of general mercantile interest, to obtain the removal … of all acknowledged grievances…” In those days there was an entrance fee of Rs 150 and a monthly subscription of Rs 20. Other objects and duties included simplification and facilitation of business practices, communication with public authorities on all matters of mercantile interest and to carry out arbitration of disputes among members.

The Bombay Chamber of Commerce and Industry is India’s premier chamber of commerce and industry located in Mumbai, which is the country’s industrial, financial and commercial capital. Established in 1836, it is the oldest Chamber in the nation and has served trade and industry through 187 years of continuous service. It is registered under Section 8 of the Companies Act, 2013 (Section 25 of The Companies Act, 1956) a non-profit organisation.

Chamber has played a significant role in the development of the city. It was largely responsible for the first railway built in India-The Bombay-Thana railway completed in 1853, has representation on the Port Trust, relentless advocacy postal system led to the passing of the India Postage Act of 1854 and standardization of weights and measures, until in 1932, set up machinery for arbitration of commercial disputes in 1880, Established customs of trade. The Chamber has initiated several practices like making a detailed Presidential address at annual meetings October 1870, presentation of Accounts in a published form 1860-61, have its annual accounts audited by a professional firm of auditors in 1881-82.

The Chamber’s Unique Selling Point, is the intellectual capital inherent in its membership which focuses in “Giving rather than Asking”, along with the Thought Leadership. The Chamber currently has few thousand members, including a large number of SME’s, most reputed large and medium, professionally managed, corporate manufacturing and commercial companies, financial institutions, multinationals, public sector companies, auditors, architects and chartered accountants who together contribute a significant portion of India’s trillion dollar economy. The Chamber provides a forum for interaction of its members and formation of considered industry opinions and viewpoints. These are done under the aegis of the Managing Committee of the Chamber and Expert Committees.

The Chamber has played a significant role in supporting the development of industries in Mumbai over the last several decades. The Chamber serves as an effective vehicle of communication between the regulatory bodies, the corporate and the society. It collaborates with other Industry associations and thus increases its reach to the decision makers beyond boundaries of Mumbai. It also supports a large base of Micro Small and Medium enterprise members and contributes effectively towards overall development of its member companies by addressing core issues and remaining responsive to the needs of business.

The Chamber provides services to its members through dissemination of information, publications, special studies and through activities like organizing business delegations, seminars and training programmes. The Chamber also provides labor advisory services for its members. Other services include visa facilitation services to its members and issue of non-preferential certificates of origin.

Over the past few years the Bombay Chamber has moved somewhat from the traditional role of advocacy with Government and facilitating trade and Industry to play a larger role of “Corporate as a Citizen”. Bombay Chamber is also concentrating on promoting good Governance and ethical conduct in business and public life towards the greater good of Society encompassing promotion of skills training, arts and culture, in addition to ensuring equitable and balanced industrial growth in a sustainable manner.

One of the major focuses of the Bombay Chamber today is on how to expand Manufacturing setups and substitute imported products under “Atmanirbhar Bharat” so that MSME’s can survive and grow in the current business climate. As part of its efforts to improve India’s competitiveness, the Bombay Chamber has delivered a number of representations to the authorities. It has also hosted several seminars and lectures on policy-related topics.

This year’s mission is an attempt to marry the rich legacy of the chamber with the opportunities that can be unleashed in this new global world by working together as India Inc. The more we come together as leaders of India Inc and work with the government and regulators, higher will be the value we can unlock for all of us. This ‘Collaborative Development’ will have four critical aspects (1) Embracing Digitalization (2) Bringing sustainability at the heart of business (3) Fostering Diversity, Equity, and Inclusion (4) Enhancing Ease of Doing Business. We will continue to strive for impactful delivery across the four pillars of the mission. The Chamber is working towards establishing an Arts and Crafts Centre (WADA) in Worli in Partnership with the MCGM and the State Government, on performing arts, the Chamber initiated the Kala Ghoda Festival, engagement with education sector to make a Centre of Excellence at the ITI Project in Bhokar, Nanded.