The Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday announced Subhrakant Panda as its President-Elect, who is currently serving as FICCI's Senior Vice President.

Share Market Live

NSE

Panda is the Managing Director of Indian Metals & Ferro Alloys Ltd. (IMFA), the largest and fully integrated manufacturer of ferro alloys in the nation with in-house mining and power generation. The company employs about 6,500 people.

Panda will succeed Sanjiv Mehta as President of the apex chamber at the conclusion of the 95th Annual General Meeting scheduled to be held on December 16 and December 17.

Also read: RBI governor Shaktikanta Das says his target is to keep 'Arjuna's Eye' on inflation

As the IMFA Managing Director, Panda has handled a variety of duties and implemented expansion strategies that have significantly increased revenue and profitability of the firm

Following the FICCI announcement, Panda said, “I consider it a privilege to helm this great institution at a crucial time. Even as the India growth story gathers momentum, there is work to be done pushing the reforms agenda further besides engaging with stakeholders on important issues such as decarbonisation and sustainability. I will work to strengthen FICCI and take these forward.”

He is the first industrialist from Odisha who will assume a leadership position within FICCI.

In a statement, FICCI said, "With his deep understanding of the economic and industry issues, Panda is determined to further strengthen FICCI’s position as the leading industry chamber which will contribute to the India growth story through its engagement with various stakeholders.

Also read: Cabinet hikes subsidy rates on NPKS fertilisers — check new rates here

Panda currently leads the FICCI National Manufacturing Committee and has been associated with FICCI for two decades. He also served as the organisation's first chairman of the Odisha State Council.

Panda was also President of both the International Chromium Development Association in Paris (ICDA) and the International Chamber of Commerce (India Chapter).

Panda earned his degree in 1993 with honours summa cum laude in both finance and operations management from Boston University's Questrom School of Business.

He has received recognition for his exceptional academic performance by being inducted into the Golden Key National Honour Society and the Beta Gamma Sigma Honour Society for Collegiate Schools of Business.

Also read: Ten reasons why this might be India’s breakout moment