The Federation of the Indian Chamber of Commerce and Industries (FICCI) was formed in the year ____.

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Detailed Solution

The Federation of the Indian Chamber of Commerce and Industries (FICCI) was formed in 1927. Indian businessmen and industrialists founded FICCI to organise commercial interests. These industrialists made great gains and rose to power during the First World War. They protested against colonial rules as they desired protection from foreign goods imports and a rupee-to-sterling foreign exchange rate that would discourage imports. The businessmen, led by famous industrialists such as Purshottamdas Thakurdas and G. D. Birla, fought colonial authority over the Indian economy and supported the national movements. They assisted the movements financially while refusing to buy or sell imported items.

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