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Saturday,
July 6, 2002, Chandigarh, India  
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IT
industry to grow by 12 pc
Govt sells
5 ITDC hotels for Rs 169 crore LSE posts
Rs 50 cr business daily |
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Capt. Amarinder Singh, Chief Minister, Punjab, interacts with a delegation of the World Bank led by Mr Edwin Lim at New Delhi on Friday. Sole
winery unit of N. India locked up by PFC
BSNL
mobiles in Punjab from Aug 15
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IT industry to grow by 12 pc New Delhi, July 5 A study commissioned by the Manufacturers Association for Information Technology (MAIT) and Indian Market Research Bureau (IMRB), has projected a 12 per cent growth rate of the IT industry against the backdrop of a 11 per cent decline in PC sales last year. The study has projected in the current fiscal year (2002-03), about 19 lakh units of PCs will be sold. “However, the year that went by should not be acknowledged as the benchmark as there was an economic recession”, said Mr S Devarajan, President, MAIT, while addressing a press conference here today. He said the IT industry has already started showing signs of positive growth as witnessed during the second half of the last FY. The Industry Performance Review - ITOPs of MAIT (which represents the hardware, training and services sector of the IT industry) was conducted by market research firm Indian Market Research Bureau (IMRB). As per the study, while the proportion of assembled PC sales showed a negative growth of 22 per cent, the MNC brands, despite a negative growth of 17 per cent, registered an increase in the market share from 27 per cent in 2000-01 to 35 per cent during the last FY. The sahre of Indian brands is reducing due to the pricing policy of MNCs and they accounted for 19 per cent of the market. The study also observed that the number of active Internet entities increased to 1.29 million in March 2002 indicating an increase of 15 per cent over March 2001. Of the total active Internet subscribers, the share of households is 52 per cent and that of businesses is 48 per cent. Increased sales in small towns and cities (106 per cent growth) was witnessed during this period. “Increased sales in smaller towns and cities has brought a ray of
hope. There is an increased need to support this market for its further growth”, said Mr Vinnie Mehta, Executive Director, MAIT.
Important observations * While the annual PC sales declined by 11 per cent, the second half PC sales registered an 8 per cent growth. * A noticeable increase was witnessed in IT products consumption in smaller towns and cities. 30 per cent of total PC sales was accounted for by class B and C cities — a phenomenal growth of 106 per cent. * Notebook sales to smaller towns and cities grew by 200 per cent whereas sales to top cities declined by 28 per cent. * The number of active Internet entities increased by 15 per cent during FY 2001-02. * Dial up remains the most commonly used means of accessing Internet . 73 per cent of business subscribers use dial up
where as capable accounts for 6 per cent, DSL-1 per cent and access through leased line 8 per cent.
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Govt sells 5 ITDC hotels
for Rs 169 crore New Delhi, July 5 Announcing the decision, Arun Shourie told mediapersons that the highest bidders for Ashok Hotel, Khajuraho, had been notched by Bharat Limited who had bid for Rs 2.21 crore as against the reserve price of Rs 2.01 crore. The Consortium of Ramnath Hotels (P) Limited had got the bid for Hotel Ashok at Varanasi at Rs 9.11 crore as against the reserve price of Rs 5.55 crore. Moral Trading & Investment clinched the bid for Hotel Indraprastha, Delhi, at Rs 45.03 crore against the reserve price of Rs 18.34 crore. Hotel Kanishka attracted the highest bid touching Rs 96 crore from Nehru Place Hotels Ltd against the reserve price of Rs 18.34 crore. The bid for the Chandigarh project, pending completion since 1981, had been given to Taj GVK Hotels & Resorts Ltd at Rs 17.27 crore against Rs 14.01 crore. Bids for the hotels were invited on June 18, 19 and 24 last month. A Press note issued by the Ministry said the incomplete project in Chandigarh is on a lease land allotted to the ITDC by the Chandigarh Administration in June 1981. The ITDC has paid a premium of Rs 36.58 lakh for acquiring the land. As per the terms of allotment, the ITDC was to construct the building within three years from the date of allotment but failed to do so. The Chandigarh Administration cancelled the allotment in October, 1994. The plot was restored to the ITDC in March, 1996, on an appeal by the ITDC. According to the regulations, the Chandigarh Administration is entitled to take possession of the land from the ITDC by paying them scrap value of the construction or ask the ITDC to restore the land to the Chandigarh Administration after demolishing the structure at its cost. The Chandigarh Administration has relaxed the Chandigarh Lease Hold Sites & Building Rules and has allowed transfer of the site to a private property as a special case in view of the government’s proposal to disinvest the project. The condition, however, is that the entire unearned increase in the value of the land is paid to the Chandigarh Administration. The Minister further stated that the Cabinet also approved that the government would retain 26 per cent of the equity in NEPA and disinvest the balance of about 72 per cent. NEPA, a central public sector undertaking in Madhya Pradesh, is engaged in the production of newsprint since 1956.
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LSE posts Rs 50 cr business daily Ludhiana, July 5 Over a period of time Ludhiana Stock Exchange has been trading mainly through LSE Securities Limited which has obtained the membership of both (NSE) (BSE). Further on NSE, LSE Securities Limited trades both in cash segment and in derivative products — futures and options eversince Ludhiana Stock Exchange stopped trading on its own terminal. The daily turnover on LSE Securities has shown a varying trend ranging from a low of about Rs 20 crore to a high of about Rs 57 crore cumulatively taking together the turnover of BSE (Cash segment) and on NSE (both cash and derivative segments). With the chances of war between India and Pakistan receding, the markets picked up throughout and with this the turnover rose to touch a high of an average of Rs 38 crore to Rs 42 crore a day. According to Mr H.S. Sidhu, Executive Director of the Ludhiana Stock Exchange said decision of the government to allow foreign print media investment also had a positive effect on the market and there was overall improvement in the markets. However, there has been no trading on Ludhiana Stock Exchange terminal for the past six months, he added.
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Amarinder meets WB officials New Delhi, July 5 Capt Singh apprised Mr Lim of the fiscal reforms undertaken by the state government recently in its Budget to put the economy on a high growth trajectory. Referring to reform measures announced in the Budget, the Chief Minister said that Punjab was the first state to enact Fiscal Responsibility and Budget Management and Punjab Infrastructure Development Regulation Acts to ensure financial discipline and speedy development in the state. Capt Singh impressed upon the World Bank officials the immediate need of financial assistance from the World Bank to boost development in the state. Moreover due to the freebies and other populist measures taken by the previous regime, the Punjab government had not received any funding from the World Bank and other multilateral funding agencies for the last four-five years. As of now the state had made concerted efforts to restructure and rejuvenate its sagging economy and moreover it was on the path of fiscal reforms. He assured the World Bank officials that power sector reforms, the main criterion for such eligibility were being undertaken. Mr Lim has agreed to send a team of experts in Punjab soon to study and assess the possibilities for funding various development projects in consultation with the state government. Among those who were present in the meeting were Finance Minister of Punjab Lal Singh, Chairman High Powered Committee on Fiscal Reforms Mr Surinder Singla, Principal Secretary ( Finance), Mr K.R. Lakhanpal and Principal Secretary to Chief Minister Mr S.K. Sinha.
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Sole winery unit of N. India locked up by PFC Bathinda, July 5 The first ever winery unit, which came into production in 1995, was locked up after the persons concerned failed to make timely payment of loan taken from PFC, allegedly due to the apathetic attitude of Punjab Government. Mr Subash Garg, a physiotherapist turned industrialist, who set up this unit in joint venture with PAIC after getting specialised training from France, was not given tax exemption to the winery by the Excise and Taxation Department, Punjab when the stocks were ready for marketing. In the order passed by Mr Iqbal Singh Sidhu, MD, it was mentioned that PFC was taking possession of the property of the unit, as there was an outstanding loan of Rs 1.17 crore, including principal and interest, against the borrower. The borrower had committed default in the repayment of loan and PFC had left with no other option than to take possession of property. He had to move here and there for many years before he could get licence for production of winery from the local grapes in 1998 but the licence for producing brandy was denied to him. When the things started moving in right direction without the help of PAIC, the PFC officials descended on the premises of winery unit about two years ago and locked it on the pretext that Dr Garg had failed to pay the installments of loan despite the fact the stocks worth more than one crore were lying in it. Dr Garg, who has been running from pillar to post and have met previous and present Chief Minister of Punjab state time and again for their help, alleged that had the concerned authorities fulfilled its commitments, the unit would have earning crores of rupees as profit per year. He added that so far unit has suffered loss of Rs 97 lakh as it can not be run at its full capacity due to apathetic attitude of authorities concerned.
Two wineries to be operational in HP
SHIMLA: Mr P.K. Dhumal said today the two fruit-based wineries being constructed in Shimla and Mandi districts would start functioning in the next few months. Addressing fruit growers from the Jubbal and Kotkhai areas of Shimla district who had come to thank him for increasing the support price of apple from Rs 3.75 to Rs 4 per kg here he said the wineries would produce export quality wine and help the growers to get remunerative prices.
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