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| Thursday, September 7, 2000, Chandigarh, India   
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USA withdraws trade concessions Opto Circuits
plans expansion Reliance lobbying for stakes in Air India Firm to
fine-tune Zee performance R Systems
shifts to
Noida Department of Posts
unveils greeting cards Govt sorting out Maruti issues |
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USA withdraws trade concessions NEW DELHI, Sept 6 — Diluting the hype over warming economic ties on the eve of Prime Minister Atal Behari Vajpayee’s visit to the USA, Washington has withdrawn duty concessions on seven imports from India. The collective value of export of these items, which enjoyed concessions under the generalised system of preferences (GSP) facility, amounted to between $40 million and $50 million last year, senior Commerce Ministry officials said. The items on which GSP has been withdrawn are: woven fabric of silk, mangoes preserved in vinegar (acetic acid), buffalo leather, necklaces and neck chains made of gold, guar seeds from Rajasthan not used for sowing, kitchen tables and other products and carpets and other textiles made of jute, the officials said. “It is entirely up to the U.S. trade administration to extend GSP facility to a country. What is, nevertheless, intriguing is the timing of the move, particularly when New Delhi and Washington have been reciprocating their postures to improve economic relations between the two countries, in the wake of our prime minister’s visit to the U.S.,” a senior Commerce Ministry official said. “We will take up the issue at the appropriate forum soon,” the official added. The GSP facility is extended by the U.S. trade administration to specific items of import from developing and under-developed countries, where there is no perceived injury to the domestic industry. The facility entitles import of such items at concessional or even zero duty. However, as international trade analysts explained, the USA also uses the facility as a carrot for extracting concessions for its industry. They cited the example of Bangladesh, where the office of the U.S. Trade Representative (USTR) asked President Bill Clinton last month to cut the GSP facility extended to the country by half. The recommendation was linked to Dhaka’s decision not to allow trade union activities in its export processing zones. Washington considered Dhaka’s move to curb trade union activities as being undemocratic, anti-labour and impinging on workers’ right to association. In the case of India, the analysts explained, the USTR has not taken kindly to New Delhi’s controversial decision last year to restrict the import of soda ash from the USA The Commerce Ministry had sought to explain its position to the USA by saying that the restriction on the import of the commodity was imposed following a ruling by a quasi-judicial authority. In this case, the Monopolies and Restrictive Trade Practices Commission has found that a monopolistic company based in the USA was exporting soda ash to India and wanted the government to take action on that. The U.S. argument, however, was that since soda ash is manufactured by small units in the America, they had merely formed a holding company collectively for the purposes of exports and were not operating as a cartel or a monopoly. — IANS |
Opto Circuits
plans expansion NEW DELHI, Sept 5 — Opto Circuits (India) Limited, a Bangalore-based hundred per cent Export Oriented Unit (EOU), dealing in complex assemblies of various
opto electronic and other components, cables and connectors involving extensive circuitry, is going in for a major expansion. The products of the company include Oxymetric probes, motion detectors and restraint monitoring systems that are used in operation theatres, ICUs, X-Ray machines and Cat Scans. The company’s medical electronic products are used in bloodglucometers, spectrophotometers and digital thermometers. Talking to TNS, Mr Vinod Ramnani, Managing Director of Opto Circuits, said his company is the only company in India which specialises in these products. There is no other company which manufactures products like Infrared Emitters, Infrared Detectors, Photo Sensor, Detector and Emitter Assemblies and Chip-on-Board Assemblies used in digital thermometers and
Critic are products. “The company faces very little competition in the international market for its medical electro products which constitutes more than 70 per cent of the company’s business”, Mr Ramnani
said.
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Reliance lobbying for stakes in Air India NEW DELHI, Sept 6 — With the government expected to announce the “expression of interest” soon for Air India, the Reliance Industries is lobbying with the government for waiving the previous experience clause in the terms and conditions to acquire controlling stakes in the airlines. The Union Minister of State for Disinvestment, Mr Arun Shourie said he would be “candid” to admit that Reliance Industries Vice Chairman, Mr Anil Ambani, had met him and had argued that the government should not insist on any previous experience in the airlines business while inviting “expression of interest”. Mr Ambani had argued with the minister that their company had no experience in the refinery business and yet were able to put up one of the largest refineries in the world in a record time of 30 months involving an investment of Rs 35,000 crore. The Union Minister of State for Disinvestment, Mr Arun Shourie, indicted that the
government would stick to the Cabinet decision of 26 per cent foreign equity stake in Air India despite lobbying by groups to reduce it to 25 per cent and retaining the management control of the airlines with Indian nationals. “An expression of interest” would be published later this week or next week and
would clear all doubts, Mr Shourie told reporters on the sidelines of a FICCI seminar on disinvestment. He also defended the government move to disinvest the equity of stand alone refineries to bigger oil companies. “We have to see that the public sector undertakings monopoly is not replaced by a private monopoly,” he said. The Union Minister asked “Reliance today control’s 40 per cent refining capacity. Should we allow companies like Indian oil to disappear from the scene.” Earlier, addressing the seminar, Mr Shourie stated that there was hectic lobbying to change the Cabinet decision. He said even the FICCI’s aviation wing, headed by Jet Airways Chairman, Mr Naresh Goel, had written a letter to the Civil Aviation Minister, Mr Sharad Yadav, suggesting 25 per cent foreign equity stake in Air India. Some of the letters later written by Congress members to the Prime Minister, Mr Atal Bihari Vajpayee, were
verbatim of the FICCI letter seeking a disinvestment policy retaining the management control with the Indian nationals. The Union Minister said some of the operative parts of the report of the Parliamentary Standing Committee on Transport and Tourism on Air India disinvestment were
verbatim of the FICCI’s letter to the Civil Aviation Minister. Besides determining what makes a bidder “foreign”, Mr Shourie said the
government also had to go into the antecedents of the suitors. “Let us take an extreme example, supposing Pakistan got one of its companies registered in a tax haven, are we going to sell Air India to this company on the basis of its highest bid,” he asked. About the valuation figures, he said all kinds of figures are being floated without any basis. Mr Shourie said even the Parliamentary Committee had got this figure of Rs 24,000 based on press reports. He wondered “from has this figure come from?” Some are justifying it based on the value of the Air India building in Mumbai and the precious paintings? Mr Shourie said the Express Tower building adjacent to the Air India building has been valued at Rs 600 crore. The Union Minister said the problem was that once high expectations were built anything less than that would be construed as another scam.
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Firm to
fine-tune Zee performance NEW DELHI, Sept 6 — Faced with stiff competition from the other satellite television networks and decreasing advertisement revenue, the Zee Telefilms Ltd (ZTL), airing the various channels has decided to go in for a restructure of the organisation. A statement issued by the Zee Telefilms here today said that it had engaged A.T. Kearney, the global management consulting firm, to review and refine its organisation structure and systems. The ZTL, however, said that it was engaging the firm to ensure full exploitation of the opportunities presented by the rapid expansion in its media and information businesses. While the industry sources said that the ZTL was feeling the crunch in its decreased advertisement revenue, the statement said that organisation was being restructured to ensure the synergie between group businesses. The statement said, over the last year, Zee had experienced explosive growth in all areas of its business, with the addition of new TV channels, the launch of Internet content and access businesses, the initiation of DTO service and the continued development of its entertainment, news and
education offerings. This rapid growth has stimulated an influx of new talent at all levels of the organisation and entailed the formation and reconstitution of several business divisions. To ensure that the synergies between Group businesses and the combined talents of its people are fully leveraged, ZTL management has decided that this an opportune time to review its current structure and processes, so as to lay the strongest possible foundation for the future growth and value creation. After evaluating proposals from several leading consulting firms, the organisation has decided to engage A.T. Kearney to undertake a comprehensive review of Group’s structure and processes and identify potential improvements. The statement further said that working closely with the management and employees, the A.T. Kearney team will be looking to identify and implement improvements to Zee’s organisation structure.
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R Systems
shifts to
Noida NEW DELHI, Sept 5 — R Systems International, a global IT company, has shifted its corporate headquarters to NOIDA and plans to invest up to Rs 25 crore in an expansion drive. According to Mr Rekhi Singh, Chairman and CEO of R Systems, the company was earlier based in Sacramento, California. It has now built its own facility which will become operational in two weeks in
NOIDA. As part of the expansion in India, the company is in the process of setting up two offshore centres in the South and in Pune. Another option being explored is the acquisition of an existing centre, Mr Rekhi Singh said. A major reason for moving to India was to source the “excellent manpower talent. The company plans to increase its staff strength from the current 125 to 500 by the end of 2001”, he said. R Systems has a presence in five application segments of mobility, e-government, e-reach services, e-connect and development services.
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Department of Posts
unveils greeting cards NEW DELHI, Sept 6 (PTI) — Department of Posts (DoP) today forayed into the Rs 300 crore greetings card market and launched a range of cards with prepaid postage envelopes under the brand name — “Greetings Post”. “The greeting cards designed by a panel of artists is available in two sizes, prices at Rs 12 and Rs 15 respectively, inclusive of postage,” Communications Minister Ram Vilas Paswan said while launching the cards. Paswan said the cards would be marketed through private retail outlets besides direct sales to corporates, in order to
popularise the brand. The cards, launched by the business development directorate of DoP, depict the traditions and culture of Indian society, he said adding the cards focusing on Divali as the theme would be available initially. The present estimated worth of the greeting card market is Rs 300 crore, growing at the rate of 15 to 18 per cent per annum. The growth rate is expected to be 30 per cent by 2001. |
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Govt sorting out Maruti issues NEW DELHI, Sept 6 — The issues relating to the strategic sale of the government holding in Maruti Udyog Limited are being sorted out, the Disinvestment Secretary, Mr Pradip
Baijal, said today. He, however, refused to comment if Maruti would figure in the agenda for meeting of the Cabinet Committee on Disinvestment on September 26. Mr Baijal was speaking to reporters on the sidelines of a conference organised by FICCI here. The Disinvestment Secretary refused to state a timeframe for effecting the stake sale.
MUL is a 50-50 joint venture between the Indian Government and Suzuki Motor Corporation of
Japan. |
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SBI honour toppers CHANDIGARH, Sept 6 — The State Bank of Patiala, honoured three toppers of the Punjab School Education Board matriculation examination held in March 2000 by awarding trophies and cash incentive. The awards were given by Mr A.K. Batra, Managing Director of the bank at Jalandhar yesterday. The awardees are Miss Jyoti Bala (Amrit Model Sr Sec School, Abohar), Miss Maninder Kaur (New Public High School, Phagwara) and Miss Manpreet (Swami Roop Chand Jain Model High School, Banga) for first second and third positions respectively. The bank also honoured their principals. The bank has been encouraging the brilliant students of the state by conferring these awards on them since 1979.
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Golden Mouse awards
for excellence in Net NEW DELHI, Sept 6 (PTI) — Net marketing firm Media2India.net today announced the institution of “Golden Mouse”, the country’s first awards for Internet excellence. “The Golden Mouse awards proposed to honour people who have made a significant contribution to the Internet medium and nominations will be invited through print and online campaigns,” a Media2India statement said here.
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Microsoft deal with
mobile phone giant MICROSOFT’S
attempt to build a bridgehead in the mobile phone market was
strengthened yesterday (Tuesday) after the software company announced
a deal with mobile phone giant Vodafone. The companies are
collaborating on a European trial of a series of corporate mobile
intranet products and services with commercial deployment expected
early next year. The products will be rolled out worldwide and will
have a consistent feel and look for corporate customers, whichever
country they happen to be in. Users of the wireless intranet service
will be able to send and receive e-mail as well as access in real time
their calendar, contacts, personalised web content and online
information. The services will be based on standards including the
existing WAP technology and the forthcoming GPRS which is expected
rapidly to improve wireless Internet access. “This is a very
exciting partnership,” said Paul Gross, Senior Vice President of
Microsoft Mobility. “Microsoft is committed to investing in
relationships with leading operators, so that together we can enable
users to access customised corporate services at any time, any place
and from any device.” The comment confirmed the change at
Microsoft, outlined by founder Bill Gates, who last year placed an
increasing emphasis on extending the company’s reach beyond the PC
and into other platforms, including mobile phones and interactive
television. It has announced joint ventures with several telecoms
companies and has taken stakes in a growing number of cable companies
worldwide to exert influence on the choice of software used for
internet access via the TV. Microsoft has made several large
investments in wireless firms over the past 18 months. To gain
ground, it announced a joint venture with Ericsson of Sweden last
December to develop mobile technology. It also invested $5bn in
AT&T, America’s largest telecommunications group, and announced
a small-scale partnership with British Telecom. — By arrangement
with The Guardian CCEA clears ADR issue of Wipro The Cabinet Committee of Economic Affairs
(CCEA), which met here, cleared the ADR issue, which had earlier been okayed
FIPB. The issue envisages an “enabling provision” under which the company would look at raising upto $ 500 million or below that depending on the market conditions. The issue is also closely linked to the company’s plans for a $ 150 million Employee Stock Option Plan (ESOP) allotment. The enabling provision was passed by Wipro’s
AGM earlier this year. KLG raises stake in Jaldi.com “An increased investment in Jaldi.com will allow us to better control and evolve a long term perspective for the company,” Kumud Goel, MD,
KGL Systel and founder of Jaldi said in a statement here. Jaldi.com.promoted by
KGL systel is a supply chain solutions major and provides one of the most comprehensive business to consumer online shopping portal in the country. Sonata 1:10 split cleared
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Dell richest man under 40 At the ripe old age of 35, Dell has amassed a fortune of more than $ 17 billion to top the list of 40 entrepreneurs in the second annual tally by the financial magazine. The 2000 list makes it clear that it takes more money than ever to make the cut. In 1999, to be included in Fortune’s 40, one needed assets of merely $ 243 million. This year, $ 430 million marked the entry-level personal assets. Ted Waitt, the 37-year-old founder of the computer retailer Gateway pulled in a distant second, with a net worth of $ 8.5 billion. Close behind Waitt were two of the co-founders of the Internet website Yahoo, with David Filo, (36) at third with $ 6 billion and Jerry Yang (31) worth around $ 5.85 billion taking the fourth spot. A woman cracked Fortune’s list for the first time in 2000. At 39, Weili Dai, a Director of Marvell Technology, which manufactures wide-band Internet semiconductors, takes the 21st place on the list, with her fortune estimated at nearly $ 650 million.
— AFP
Outstanding designer Mr Verma started Ramani Engg. Technologies in 1991 after having worked with several companies, including Gabriel India and JCT Electronics. “It was only after I designed an assembling and crimping machine (for manufacture of power brakes) for Delphi Chessis Systems, a US-based company, when my work was recognised by the government”, says Mr Verma. The unique aspect of the machine was that it could be used for manufacturing operations for which otherwise normally four machines had to be used. “The machine helped not only in reduction of time, but also the overall cost and labour involved for the operations,” says he. For Mr Verma, each machine he designs has to be
different." I never repeat my designs and every time I come out with a different machine,” he claims. He takes special care that if he designs for a company, he does not work for its competitors.
— TNS
Amritsar-born shares World Food Prize Amritsar-born Vasal, who heads the Bangkok-based regional office of the International Maize and Wheat Improvement Centre (CIMMYT) in Mexico, and Mexican scientist Evangelina Villegas jointly developed varieties of quality protein maize (QPM) that contain twice the amount of protein in conventional tropical maize varieties and give 10 per cent more yield, according to a release from CIMMYT. “Vasal and Villegas are receiving the award for their decades-long scientific quest to produce QPM,” the release said quoting the World Food Prize Foundation. The prize includes a cash award of 250,000 US dollars.
— PTI |
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