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Airbus, Boeing court A-I
Textile industry awaits sops in Budget
Panchkula firm inks pact with Austrian co
ONGC arm may get more financial powers
Pharma body seeks PM's intervention
on MRP issue
Left protests against telecom FDI hike
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Govt pegs GDP growth at 6.9 pc in 2004-05
Coops can boost agro-processing sector, says Sahai
Malaysia, Singapore on Jet, Sahara route
Nod to Rs 55,000 crore roadways project likely
Graphic:
Share of Public Sector in Indian Economy
Lancer LX rolls out with ‘one country one price’ tag
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Airbus, Boeing court A-I
Bangalore, February 7 “It (the bid) was done in December. All three aircraft are in the running for A-I and we feel that there are compelling advantages that will hopefully result in a sale here,” Boeing Vice-President Dinesh A. Keskar told reporters here today on the sidelines of the Aero India 2005 international seminar. The 50 aircraft deal includes 35 firm sales and option to buy 15 more by A-I, he said. Boeing has offered 20 of 220 to 250 seater 787 aircraft, five 380 seater 777-300 ER and five 250 seater 777-200R for the firm sales, while the options are seven 787’s, three 777-300 ER and three 777-200
LR, Keskar said. “The order value is significantly high somewhere between $ 6 billion and $ 7 billion, when you include both the firm and option sales,” he said. Boeing has not made headway in the Indian market losing out to rival Airbus for the Indian Airlines, Air Deccan and Kingfisher airline orders, but has a strong supporter in Jet and Sahara airways. “We haven’t really done well here, but with Jet, Sahara and new players, we are in the game,” he said.
Airbus
Airbus Industrie, too, is setting its eye on India for selling its brand new, most modern and spacious A-380 aircraft. “With the opening up of skies by the Government, Indian private airlines would be looking for bigger aircraft for long haul. Airbus A-330s and A-340s would be best suited for them,” Regional Press Advisor of Airbus David Velupillai told reporters here, adding they could also consider buying A-380s. He said the A-330s and A-340s were the best suited for A-I, which is also in need of more planes to cater to increasing number of destinations. Referring to the new A-380 variety, he said the aircraft had much more space than the Boeing 747 series. “It can land in any airport where 747s are capable of landing. “At present in India, only Delhi and Mumbai airports are capable of handling these two aircraft by parking them in a remote bay with the passengers being ferried in a bus,” he said. To a question about the company’s talks for selling or leasing aircraft to Indian Airlines, he said: “We are in discussion with Indian Airlines and they need the aircraft very badly.” “We are confident that we have an aircraft which could be the best for Indian Airlines,” he said while answering a question about the stiff competition being given by Boeing company. Asked about the firming up of aircraft leasing market, Mr Velupillai accepted the aviation market is becoming stronger after a brief hangover of 9/11. — PTI
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Textile industry awaits sops in Budget
New Delhi, February 7 The textile exports from the country have been projected to reach $ 25 billion by 2010-11 as against $ 5.2 billion exports achieved during 2003-04. The industry has claimed that with the pro-active government support the sector could replicate the “Indian software success story.” At present, the textile sector is generating about 11 per cent of the total foreign exchange earnings. With the onset of free trade, claims Mr A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), the garment exports are expected to rise by 16 per cent annually. He said the employment opportunities in the textile sector are projected to rise to over 12.50 million by 2010-11 from the present level of around 4.58 million jobs. The Finance Ministry is also likely to bring down customs duty to bring down to the level of ASEAN countries besides de-reserving the knitwear sector from the SSI sector. The industry will also benefit from the Finance Minister’s move to bring down corporate tax by over 3 per cent this year. Official sources said government is seriously considering taking measures to encourage investment in the sector keeping in view the fact that China, Pakistan and Bangladesh are emerging as major competitors of India. Finance Minister is also expected to provide tax exemptions to the textile industry on the R&D besides investment in the apparel parks including in Ludhiana, Tirupur-the major textile export centres. The textile ministry has also proposed to the Finance Ministry to review its recent decision to reduce duty drawback rates on textile products. The Industry has lamented that the decision would bring down the projected growth of the industry if the government failed to review it. To face the threat from the competitors, the industry has suggested to the government to initiate discussions with the US and the EU on a “zero-for-zero” tariff liberalisation limited to the textiles and clothing sector. Mr Sakthivel said,” The US has already set the ball rolling in this regard at the WTO a few months before the beginning of the Cancun Ministerial Conference of the WTO. The US has identified textiles and clothing as one amongst the seven sectors on which import duties could become zero by 2015.” In the interim, he said, “we need to start actively negotiating a preferential trading arrangement with the EU and the US by identifying apparel items of interest to Indian apparel industry in the early harvest list.” He said India could propose zero import duty on the import of yarn, fibre and textiles and in return the US could be asked to offer zero import duty on apparel exports originating from India. The Industry has also sought to exempt the industry from the labour laws on the pattern of IT industry to encourage investment, and improve infrastructure at the ports to boost exports. The AEPC has also urged the Finance Ministry to continue to technological upgradation fund scheme (TUFS) and to improve disbursal mechanism so that other industrial units could also benefit from the scheme. It has demanded that the government should take measures to provide uninterrupted power supply and required infrastructure in the apparel parks and other special zones for the industry.
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Panchkula firm inks pact with Austrian co
Chandigarh, February 7 Announcing this here today, the MD of ICLCL, Mr Sanjiv Chadha, said CIS-CERT GmbH was Austria’s largest certification body for the information security management systems (ISMS), with an impressive clientele of major banks and multi-national companies like Seimens. He said ICLCL provided independent third party certification service for environment, quality and occupational health and safety management system of national and international standards. It also offered calibration services and was now diversifying into testing services of international standards. The MD of CIS-CERT GmbH, Mr Erich Scheiber, said high-quality information safety management systems were the necessity of the day in e-commerce to prevent espionage, global virus attacks and in view of international disasters like the bombing of the World Trade Center of New York. The two companies will undertake the information security standard, BS 7799, projects in India. The BS 7799 or ISO 17799 standards, according to Mr Manish Vig, Director, ICICL, is implemented by MNCs like Unisys, Unilever, Sony, Samsung and Ericsson.
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ONGC arm may get more financial powers
New Delhi, February 7 “A note for the consideration of Cabinet Committee on Economic Affairs (CCEA) has been circulated enhancing the powers of OVL to approve projects involving investments up to $ 75 million or Rs 300 crore, whichever is less,” a top official in the Ministry of Petroleum and Natural Gas said. OVL Board is currently empowered to take investment decisions of up to Rs 200 crore or $ 50 million. “This (enhancement of OVL powers) shall enable the board to take up fast decisions to acquire medium sized projects and ventures to increase their oil and gas production from overseas participation to augment the energy security of the country,” he said. Last year OVL was to buy 11 per cent stake in exploration blocks 3D, 3E and 7E in Sudan. “The acquisition could not materialise as, while awaiting the decision of the CCEA on buying 5 per cent holding of Al Thani Corp of Qatar and 6 per cent of Gulf Petroleum of United Arab Emirates, the latter sold its stake to a Chinese company at a price higher than that discussed with OVL and the other seller did not extend the exclusivity with OVL.” — PTI
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Pharma body seeks PM's intervention
on MRP issue
New Delhi, February 7 A delegation of the association met Ms Gandhi recently urging her to intervene in the matter on their behalf. Mr Arvind Bhargava, president of the association, said," replying to a memorandum submitted on the matter to Sonia Gandhi and the Prime Minister Manmohan Singh recently, Ms Gandhi has assured to solve the problems of the SSI units". In a press statement issued here today, Mr Bhargava quoted Ms Gandhi's letter written to Mr P.K. Gupta, co-chairman, Confederation of Indian Pharmaceutical Industries (CIPI-SSI). " I shall take up the matter with the Ministry of Finance," said the letter of the UPA convener. Opposing the Finance Ministry's recent decision to levy excise duty based on maximum retail price (MRP) printed on the labels, the CIPI requested urgent intervention of the Prime Minister and UPA
convener." The decision would cause 40 per cent increase in the cost of production, which cannot be passed on to the consumer," said the CIPI adding that small scale pharmaceutical companies were thriving on contract manufacturing for big companies. Mr Bhargava claimed that after the decision large producers were severing their contracts and would shift to excise-free states like Himachal Pradesh, Jammu and Kashmir and Uttaranchal. Consequently, a large number of pharma units would have to close their production despite the fact that they had made additional substantial investments to meet the global standards and the Drug Act.
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Left protests against telecom FDI hike
New Delhi, February 7 Mr Dipankar Mukherjee, CPM MP, said after the proposal to hike the FDI ceiling in telecom was announced by the Finance Minister in the Budget, the Left parties had submitted a detailed note containing its objections to the move. “No government will last if it follows foreign investments as the path for growth and development. The fight will continue inside and outside Parliament”, Mr Mukherjee said. He said there was need to prioritise rural telephony in the backdrop of the increasing teledensity gap between urban and rural areas. This requires more public investment by companies such as the BSNL and not more FDI, since operations of foreign telecom operators remain concentrated in urban areas. National Secretary of CPI, D Raja warned the UPA government of “resistance both within and outside the Parliament, if this decision is not withdrawn”.
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Govt pegs GDP growth at 6.9 pc in 2004-05
New Delhi, February 7 Gross Domestic Product (GDP) at factor cost at constant (1993-94) in the year 2004-05 is likely to attain a level of Rs 15,29,366 crore, as per the Quick Estimates released by the Central Statistical Organisation (CSO) here. The RBI, the World Bank and other thinktanks had projected that the growth rate this year would be in the range of 6 to 6.5 per cent. The agriculture sector, however, is expected to clock a mere 1.1 per cent growth —significantly lower than last year’s growth rate of 9.6 per cent. The 6.9 per cent GDP growth in 2004-05 is being primarily driven by robust performances in ‘mining’, ‘manufacturing’, ‘electricity, gas and water supply’, construction, trade and hotels, transport and communication, financing, insurance, real estate and business services and community and social and personal services. Each of these sectors is expected to grow by over 5 per cent in the current financial year. The estimated growth in GDP for the trade, hotels, and transport and communication sectors during 2004-05 is placed at 11.3 per cent.
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Coops can boost agro-processing sector, says Sahai
New Delhi, February 7 The wastage worth more than Rs 50,000 crore is recorded every year as chunk of agricultural produce is wasted before reaching its desired destination because of limited linkages with the subsequent consumer. The farmer cooperatives can become an integral instrument in dealing with the situation by providing the initial link in the food processing chain. This would also help the farmers to protect their rights in this era where lot of stress is being put on commercialising the food industry, he told a visiting delegation of the PHDCCI. He was supportive of the suggestion made by president of the chamber K N Memani that each village should have a small pulping unit run by farmers. The fruits and vegetables could be made to pulp and transferred to a centralised refrigeration unit located at a strategic point to be used for making juices and other products by the industry. The Union Minister said that India needs to build a brand image for its agriculture produce. Citing the examples of successful brands like Amul and Safal, he said that branding for other agriculture products is imperative to make an image in the international market. He pointed out that most often the consumers are apprehensive about using processed food. There is need to stress that processed food is safe and healthy. Mr Memani suggested that in this regard, the Ministry of Food Processing Industries might join hands with corporates to go in for product specific advertisements as is being done in the case of eggs.
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Malaysia, Singapore on Jet, Sahara route
New Delhi, February 7 The Ministry of Civil Aviation at a meeting here also decided to enhance seat availability to Air-India and the Indian Airlines to Singapore, Malaysia and Thailand. As a result of this seat enhancement to the two public sector airlines, which was also demanded by them, the two private carriers could not get any routes specially to Thailand. Officials of the ministry said here that while Jet Airways has been allotted a daily flight from Chennai to Kuala Lumpur and Mumbai to Singapore, Air Sahara has been given a daily flight from Chennai to Kuala Lumpur. It also gets to fly from Delhi to Singapore daily. Officials said that routes to Hong Kong could also have been allotted to the private carriers but since the bilaterals with that country have not been enhanced as yet new routes could not be allotted. As for Air-India, the government has decided to enhance its seat capacity to Singapore by 603 every week. There has been a major jump for the airlines in the Malaysia and Thailand sector with 1206 and 1608 seats being enhanced to these destinations respectively every week.
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Nod to Rs 55,000 crore roadways project likely
New Delhi, February 7 Giving a broad outline of the government’s highway development initiatives, Union Minister of Shipping, Road Transport and Highways, Mr T.R. Baalu, said that 10,000 km NHDP Phase III costing Rs 55,000 crore was likely to be approved by the government soon. He was speaking at the 10 th international conference on “Strategic Cost Reduction through Effective Supply Chain Management” organised by the Chartered Institute of Logistics and Transport.
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Lancer LX rolls out with ‘one country one price’ tag
Mumbai, February 7 Even if there is any anomaly in the Vat implementation effective from April 1, 2005 — HM endeavours to absorb it and will not pass it on to the customers, the company said. This pricing includes all features central sales tax, transportation, insurance and handling charges, except local sales tax and octroi. Speaking at the launch of Lancer LX here, Vice-President S.C. Gupta told the media that the ‘one country one price’ was not specific to this model and its variants but extended across all its other high-end products as well. The refurbished Lancer LX has been designed to cater to heterogeneous requirements of a wide set of customers and comes with gas filled shock absorbers, flat torque curve, toe link suspension for easy cornering and variable power steering, he informed. Elaborating about the variants, he said the LX range was available in 1.5 litre, 1.8 litre and 2-litre diesel. The car also comes in the XL range (1.5 litre petrol and 2.0 litre diesel) and LE range (1.8 litre automatic and 2.0 litre diesel), he added. With this launch, Mr Gupta said, HM would enter the luxury D segment in collaboration with Mitsubishi Motors in the calendar year 2005. The new model would be manufactured at HM’s Chennai factory. Tata Motors
India’s biggest bus and truck maker Tata Motors Ltd today said its vehicle sales in January rose 22.5 per cent to 39,000 units from a year ago. Sales included 17,003 units of domestic commercial vehicles, a 17.5 per cent rise over the previous year, and 18,504 units of domestic passenger vehicles, up 23 per cent. Tata Motors said exports in January rose 48 per cent to 3,943 units.
Ashok Leyland
Hinduja Group flagship Ashok Leyland today said its sales increased by 17.06 per cent to 5,461 units in January 2005. The company had recorded a sale of 4,665 units in January 2004, a company statement said. Cumulative (April-January 2004-05) sales grew by 11.64 per cent at 41,872 units over 37,503 units during the year-ago period. The Chennai-based commercial vehicle maker sold 5.57 per cent more vehicles in the domestic market at 4,655 units in January while exports grew by a robust 214.84 per cent at 806 units against 256 vehicles exported in January 2004. Total domestic sales of medium duty vehicles surged by 5.53 per cent at 4,632 units last month while that of light commercial vehicles posted a rise of 15 per cent at 23 units. — Agencies
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New Delhi, February 7
In video (
