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Wednesday,
September 10, 2003, Chandigarh, India
  
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NCAER in favour of unlimited mobility for WLL
Device to check rice shellers’ pollution
Radico Khaitan seeking partner for bottling Scotch
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Infosys bags $50 m contract with Telstra
100 pc FDI in some sectors
on cards Industrialisation process in J&K starts
LG rules
out IPO
this year
Air Sahara adds 24 flights
20 Indian cos to list at LSE
BIS raids units
in UP and Maharashtra IFFCO pays
Rs 54.95 cr dividend
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NCAER in favour of unlimited mobility for WLL New Delhi, September 9 “A way out of the current impasse would be to allow WLL operators unlimited mobility, while recompensating the cellular operators by letting them pay lower revenue shares to make up for the high entry fees”, the premier economic think-tank said in the latest issue of its report `MacroTrack’. The NCAER wondered why the regulator Telecom Regulatory Authority of India (TRAI) have changed its position on a different licensing scheme within a period of two years. “Have the trends and circumstances changed so dramatically in the past two years as to call for the unification of basic and cellular licenses? None, at least on the technology front”, it said. The NCAER pointed out by bringing about a unified license regime now would imply the impression that regulator did consider limited mobility services as complete cellular services. The think-tank said that if expansion of the choice set and better access were the primary parameters of consumer welfare, it would be more prudent if the license fees were reduced rather than increasing them.
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Device to check rice shellers’ pollution Chandigarh, September 9 The council is in the process of installing these devices in over 500 other rice shellers in collaboration with private partners. “These devices have helped us check emission of dust particles up to 250 kg per day, besides earning up to Rs 1 lakh per annum through better realisation of bran oil and less wear and tear of the machinery,’’ says Mr Tarsem Singh, President, Punjab Rice Shellers Association. Before the installation of these devices the workers employed in these shellers complained of respiratory problems and even tuberculosis after working for some years. The new technology has helped improve the health of employees and the people residing in the area. Dr S.M. Ahuja, Project In charge, PSCST, claims that the Central Pollution Control Board (CPCB) has now constituted a committee to study the work done by the Punjab Pollution Control Board (PPCB) and council to implement the guidelines at the national level. Appreciating the results of the APCD, Mr Jaspal Singh Sahni, General Secretary, the Punjab Rice Shellers Association, said “with the new devices the rice shellers and state are benefiting by crores of rupees every year. Now we get up to 16-18 per cent of oil from the rice bran in comparison to 13-15 per cent found earlier.’’ Mr Ahuja claimed that once the APCDs were installed in all plants, the industry would earn about Rs 3,000 crore additional revenue annually. |
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Radico Khaitan seeking partner for bottling Scotch New Delhi, September 9 At the same time, it has chalked out a portfolio expansion drive for establishing a firm foothold in all segments of the organised domestic liqour industry. “We are negotiating with some international Scotch brands and hopefully these will be firmed up in the near future”, Chairman and Managing Director Lalit Khaitan of the Rs 620 crore company said in an exclusive interview. “Once the duties are rationalised Scotch whiskeys will be available in the domestic market at the cost of semi-premium and premium brands of the domestic industry”, he said. By March, 2004, the basic customs duty on imported spirit will come down 150 per cent and the effective customs duty, including the additional customs duty, will be in the range of 292 per cent. This will be much below the duty structure as existed in 1994 when the basic customs duty was in the range of 400 per cent. Mr Khaitan believes that “Radico has the preparedness to welcome the transformation as and when it comes”. His son and Joint Managing Director of the company Abhishek Khaitan believes the lowering of the duty structure will actually help the growth of the domestic market. “Import duties are gradually lowered to meet the WTO stipulations and the industry will definitely grow. World-class quality brands will be available all across and it will take a shape of a supermarket where everyone has the choice to pick up the brand of his choice”, Mr Abhishek Khaitan pointed out. Radico looks at it from a “positive angle”
because the multinationals will focus primarily on niche segments such as Scotch and white spirits of the upper price band. “This will expand the Indian market and the consumer will be exposed to a number of options both in terms of brands as well as flavours”, he observed. At present, the Scotch market in the country is of the size of 100,000 cases per annum. Once the duties come down it is bound to increase. More than the reduction in import duty to the WTO specified norms, the Radico Khaitan group is pitching more for bringing about a uniform excise policy. “A shift in the excise policy will have a number of benefits to both the industry as well as the consumer. A key feature will be uniform pricing all across the country”, the Joint Managing Director said. The domestic brands will be the cornerstone of the IMFL industry and “that is why we are working towards a plan to be present in all categories”, he said. Established in 1943, and initially engaged in the manufacturing of extra neutralised alcohol and other spirits for leading liquor companies, its production capacity is at present 60 million litres per annum and there are plans to enhance it further. The company, which has clocked a 324 per cent growth in sales volumes and 140 per cent increase in net profit has, however, not positioned itself in a battle of sorts against United Breweries and Shaw Wallace. “We are not competing with UB or Shaw Wallace. We are concentrating more on the bottom lines and have benchmarked ourselves against FMCG companies such as Hindustan Lever”, Mr Lalit Khaitan said. He feels it is important to develop a decent “drinking culture” in the country and for this restrictions have to be removed. “Too much of restrictions is working against the evolution of a good drinking culture. Here it is more often that people drink to get drunk. Liquor should be made easily available. But the policy environment seems to be moving in the right direction and states such as Gujarat have removed the restrictions. It needs to be realised that reduction of excise duties will not lead to higher drinking levels. In fact the consumer’s taste gets developed as he moves up the value chain”, Mr Abhishek Khaitan added. |
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Infosys bags $50 m contract with Telstra Sydney, September 9 Telstra's Chief Information Officer Jeff Smith today said the company would pay Infosys 15 million Australian dollars ($ 10 million) every year to maintain its business systems. The company expects that the contract would yield cost savings of up to 40 per cent. "It is all about excellence in execution and predictable delivery. If systematic processes are followed to manage all IT layers, 40 per cent savings overall is definitely possible," Infosys' Australia manager Ananda Rao told PTI. Infosys will be taking over work which was earlier carried out by IBM Global Services Australia, formerly a joint venture between Telstra, IBM and Land Lease. On why was Infosys chosen over IBM, Rao said "Perhaps in this case, our value proposition was better." Smith said "We are going to work with the best company and Infosys is one of the best in software engineering. We chose them for the strength of their leadership, quality and expertise." Infosys is also looking at office space for a development centre in Australia for which it plans to hire 250 employees. "We will be hiring a fair percentage of local people based on skills," Rao said. —
PTI
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100 pc FDI in some sectors
on cards New Delhi, September 9 “There is a case for further liberalisation of FDI and even 100 per cent FDI in certain sectors,” Joint Secretary (Capital Markets and Pensions) Mr U K Sinha said, while speaking at a seminar organised by Assocham here today. Mr Sinha, however, did not specify the sectors where 100 per cent FDI was proposed to be allowed but said that a group headed by Chief Economic Adviser Dr Ashok Lahiri was looking into the matter. He also indicated that there could be further simplification of norms and procedures for external commercial borrowings (ECBs). ECBs up to $50 million came under the automatic route, $50 to 100 million needed the RBI clearance and those above $100 million required the government approval. Mr Sinha said the government had also liberalised commercial borrowing norms by permitting companies to float sponsored ADRs and GDRs and also allowed partial convertibility. He said SEBI was looking into the issue of allowing companies to simultaneously list their shares in India as well as abroad. FIIs have invested $3 billion in the capital markets this year. “Our approach was successful when we look at the East Asian crisis,” he said.
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Industrialisation process in J&K starts
Srinagar, September 9 Rao, who was here to attend a two-day seminar ‘Opportunities for Industrial Development in J and K’, told reporters the share of manufacturing sector in the state’s gross domestic product and employment was far less compared to the national average. Referring to the package announced for the state, Rao said the policy provides cent per cent insurance premium on capital investment for a period of 10 years, 3 per cent interest subsidy on working capital loan, 15 per cent capital investment subsidy for investment in plant and machinery upto Rs 30 lakh. He said the package extended to the state is on the pattern of north-east package and the Union Ministry of Textiles has also agreed to extend their package of assistance to Jammu and Kashmir as is applicable to ‘seven-sisters’ region. The minister said the government has also identified the thrust industries, which are eligible for all incentives irrespective of their locations. The industrial package would give impetus to boost the industrial activity in all the three regions of the state. —
PTI
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LG rules out IPO
this year
New Delhi, September 9 “We are not in a hurry for IPO since we are a cash rich company. We will rather concentrate on festival season to reap rich harvest,’’ LGEIL Marketing Head Anil Arora said on the sidelines of a conference here to launch new products.
“We will wait and watch the market mood as it keeps on fluctuating,’’ he said. There was no need for an IPO and the company would concentrate on core electronics business. “LG sells 1.5-1.6 lakh units TV per month. It has been internally decided to target 4 lakh units during the festival season,’’ Mr Arora said. —
UNI
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Air Sahara adds 24 flights
New Delhi, September 9 The 126-seater B-737-700s have been taken on dry lease from a European company. “We will now operate 103 flights daily, offering 11,292 seats to 20 destinations across the country,’’ said company’s CEO Uttam Kumaar Bose. The expansion includes addition of new destinations like Jaipur and Ahmedabad. — UNI
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20 Indian cos to list at LSE
New Delhi, September 9 “With downturn in world market last year, not many companies have gone for raising capital. But with the number of enquiries we are receiving now, I think things are improving,” Deborah Medley Foye, LSE Country Manager who is visiting India, told PTI here today. About 50 Indian companies were eyeing the London market two years ago. —
PTI
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BIS raids units
in UP and Maharashtra New Delhi, September 9 Raids were conducted in units manufacturing cement and packaged drinking water and goods with fake ISI mark were seized, a release said today. The government has brought 23 items under compulsory certification from August last and strict action is being taken against those misusing ISI mark, it added.
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IFFCO pays
Rs 54.95 cr dividend New Delhi, September 9 Members of IFFCO’s Board led by Mr B.S. Vishwanathan, Director, and Mr U.S. Awasthi, MD, presented the dividend cheque to Prime Minister Atal Bihari Vajpayee yesterday in the presence of Union Minister of State for Chemicals and Fertilizers Dr Chhattrapal Singh and other dignitaries. —
UNI |
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