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India leader of outsourcing: Gartner
Tata Tele to offer walkie-talkie service
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Hitachi launches split AC
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Banks told to bail out sick
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TDS returns on paper not valid, says govt
Sahara to ink pacts for more destinations
SBI acquires property of three defaulters
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India leader of outsourcing: Gartner Houston, March 18 “In terms of offshore centres, India remains the undisputed leader, with China and Russia emerging as strong contenders,” IT consultancy firm, Gartner, said in its report released yesterday. The prediction comes as the US-based group presented its analysis of outsourcing trends and other current IT issues at its annual Spring Symposium in Barcelona, Spain. Gartner identifies the growth in offshore outsourcing to India and other developing countries as one of the most significant shifts in IT in the near term. “Global sourcing is becoming a mainstream delivery model,” said Ian Marriott, Vice-President, Gartner, at the symposium. “The potential cost advantages are so persuasive that companies that don’t consider it seriously risk doing their shareholders a disservice. Businesses will also be put at risk due to loss of competitive advantage and inability to focus on growth through innovation,” he said. Outsourcing has been a growing phenomenon in the United States and is catching on now in Europe as well, with 2003 a turning point. The research shows that outsourcing as a whole is outstripping the IT services market in Europe, growing by 3.1 per cent in 2004 and predicted to rise to 8 per cent by 2007, with the offshore element tipped to grow hugely. Gartner predicts almost a third of leading European businesses will include an offshore element in their IT plans by 2005. However, while global sourcing enables companies to deliver higher levels of services at lower cost, it also has its challenges and risks. Gartner says, 2004 will be a year of disillusionment for global sourcing. “We will continue to see an increasing backlash in connection with white-collar jobs moving offshore,” Marriott warned.
— PTI
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Curbs to hit US, Bush told
Washington, March 18 Wading into a major issue in this year’s presidential election, the President’s Export Council warned that various attempts to prevent federal, state and local governments from outsourcing jobs to overseas companies threatened state budgets and the US economy. ''These measures can dramatically increase the cost of providing goods and services to these governments, further exacerbating the serious budget shortfalls faced by many states,’’the advisory group said in the draft version of a letter to Bush it approved on Wednesday with some changes. The outsourcing curbs also will ''burden taxpayers with higher taxes and consumers with higher costs, and render many businesses less competitive in the global marketplace — thereby hurting prosperity and discouraging the very job growth we all seek,’’ the group said. The Export Council includes the chief executives of Caterpillar, Merck, Marriott, Dell, Exxon Mobil, Cargill, Bechtel and other major US corporations. Six Republican lawmakers and four Democrats also serve on the panel. Expected Democratic presidential nominee John Kerry has tapped into public anxiety about job outsourcing in his bid unseat Bush this fall. Last week, the leading candidate for a new manufacturing position at the Commerce Department withdrew his name from consideration after Kerry and other Democrats accused the Nebraska executive of outsourcing jobs to China. In the letter, the President’s Export Council said the ability of US companies to source goods and service from around the world was a net benefit to the economy.
— Reuters
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Textile outsourcing business on rise New Delhi, March 18 By next year, after the end of the quota system, the major US and European retail companies are expected to
outsource their garment requirements from Indian companies in a big way, said Mr S.B. Mohapatra, Secretary, Ministry of Textile, said here yesterday. He was talking after attending a function organised here to release the Mckinsey report on textiles. However, besides an improvement in productivity, the government would have to back up this sector with “slow depreciation of the currency,” as the current appreciation of rupee value was hitting the growth in this sector. The report has also pointed out that India would be the second winner after China in the textile and apparel sector with exports growing at 15-18 per cent annually to reach over $30 billion by 2013, provided government could implement reforms agenda
aggressively. In fact, Ludhiana, Tirupur, Gurgaon, Delhi and
Bangalore are fast emerging as a major suppliers to major US and European
brands. Mr Naveen Mehta, a leading readymade garment exporter, said,” We are no more exporting directly our garments to other countries. Rather we are working for our clients at the pre-fixed rates and according to their specifications, and under their brand name. The trend is expected to pick up after the end of quota system.” Mr Mohapatra claimed that if India could produce cotton at 20 per cent lower price than China, there was no one to beat India in this sector. “ We are making efforts in this direction, and the results will be visible in the next few years.” “The global chains like the Wallstreet are looking India as a major supplier for its retail shops across the USA. Once the quota system is over, the volume of textile exports is expected to grow by 10-15 per cent annually,” he added. Appreciating the efforts of the Mckinsey, Mr Mohapatra felt,” This simple report presents a nice diagnosis of illness in the textile sector but is silent about the treatment.”
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Tata Tele to offer walkie-talkie service
New Delhi, March 18 Push-to-talk service is like a walkie-talkie
service on mobile phones and Tata Teleservices is likely to launch it by July in India. Tata Teleservices will be one of the first CDMA operators outside the US to launch push-to-talk and the first in the world to commercially launch BREW (BREW) Chat solutions. BREW Chat solution enables person-to-person and person-to-group communication between subscribers at the push of a button. The Tatas plan to offer BREW-based services to their wireless users in six states of
Andhra Pradesh, Delhi, Gujarat, Tamil Nadu, Karnataka and Maharashtra, Tata Teleservices President Amit Bose said, adding that the services would be extended to 11 additional states in next few months.
— PTI
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LPG-run Omni Cargo launched
New Delhi, March 18 “The Omni Cargo LPG has a superior suspension, making it stable. With engine power of 27 bhp, the Omni Cargo LPG will enable customers to transport goods faster and cover a wider region for delivery,” the company said. Company officials said the decision to introduce the LPG kit-fitted vehicle was taken following the rising number of LPG stations across the country as well as court orders against use of LPG kits-fitted by unauthorised vendors. “One of the advantages of LPG is its easy availability across the country. Filling and dispensing stations are currently available in 14 cities. “Leading oil companies have indicated that they will further expand this network. Besides, LPG is easier to fill into a vehicle and thus more convenient,” Maruti said. Officials said the company can also look to pre-fitting LPG kits on other models “in the future.” New look Bullet by year-end The machismo Enfield bullet is all set to shed some of its tough looks with the company coming out with a new “more accessible, soft look” bike by the end of this year. Royal Enfield CEO Siddhartha Lal said the new bike, which would be priced somewhere around Rs 60,000, would carry the current 350-500 cc engines, “though the looks will be more soft.” “We are working on a new engine platform on which this bike will be made. All I can say is that it will be an attempt to make the bike more accessible to the youngsters who today may be overawed by the size of the current bikes,” he said.
— PTI, UNI
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Hitachi launches split AC Chandigarh, March 18 The split AC is a blend of two revolutionary technologies — Lambda Technology and Power Saving Technology. This gives powerful and economical performance in extreme Indian climatic conditions. The new range of air conditioners comes with technology that saves up to 45 per cent on power. Mr Akira Kamitani, Managing Director, Hitachi Home and Life Solutions, said it commands 12 per cent share of the organised market in India putting it among the top three players in the industry. The company targets to increase its share to about 20 per cent over the next two years. The AC market is growing at a annual growth of more than 15 per cent. Hitachi split air conditioners come with the patented Auto Climate Technology (ACT), which provides intelligent environment control based on the geographical location, the weather conditions and the time of the day. It has a manufacturing plant in Jammu and Kashmir. Recently it has commenced production at a new manufacturing facility at Baddi in Himachal Pradesh.
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| EU, Microsoft fail to reach deal
Brussels, March 18 "I'd just like to inform you that a settlement on the Microsoft case has not been possible," Competition Commissioner Mario Monti told a news conference. Although
substantial progress had been made towards solving past problems, the
Commission was unable to agree with Microsoft on commitments for
future business practices and had decided that a clear legal ruling
next Wednesday would be better for consumers and for competition, he
said. — Reuters
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Banks told to bail out sick
units Chandigarh, March 18 Addressing the 87th State-Level Bankers' Committee meeting, he expressed concern over the decline of the bank investments in the agriculture sector. Mr Gill urged the Union Government to treat Punjab on a par with the neighbouring states in bringing changes in the industrial climate by doling out incentive packages as was done in Himachal Pradesh. Presiding over the meeting, PNB Chairman and Managing Director S.S Kohli said, according to the advance estimates of national income for 2003-2004, released by Central Statistical Organisation (CSO), the growth in real GDP this year, at 8.1 per cent, would be twice the 4 per cent level recorded for 2002-2003. The government is planning to develop 5,000 identified rural economic clusters to push up GDP growth in the country. While reviewing the performance of banks in Punjab, Mr Kohli said aggregate deposits of the banks in the state increased by 8.9 per cent and gross credit by 11.3 per cent during the quarter ending December, 2003. Mr
U.S.Bhargava, General Manager of PNB and convener of the bankers' meet
of Punjab, said the state was slowly picking up the concept of Self-Help
Groups and as on December 31, 2003, more than 2,500 groups have been
linked with bank credit.
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TDS returns on paper not valid, says govt
New Delhi, March 18 Any TDS return filed by corporate deductors after June 1, 2003 on paper format will not be in conformity with the legal provisions, an official press release said here, citing a CBDT clarification. “Therefore, those corporate deductors who have filed their TDS returns on paper format after June 1, 2003, are required to file the e-TDS in accordance with the scheme of electronic filing of TDS returns to obviate any procedural delays or any legal consequences,” it said. The CBDT was of the view that after coming into effect of the amended provisions, all
corporate deductors were mandatorily required to file TDS returns in computer media only, it said. The board also said all TDS returns would have to be filed only in new forms — Form 24, 26 and 27 from July 31, 2003 and TDS returns filed in old forms would not be in conformity with law.
— PTI
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Sahara to ink pacts for more destinations New Delhi, March 18 Officials at the airlines said the agreements can be in place by tomorrow. Air Sahara’s tie-up with foreign airlines on onward journeys to southeast Asia will be on a revenue-sharing basis. The airlines is looking at offering cheaper fares via Colombo than direct connections to Singapore and elsewhere that are currently available. The airline has also tied up with Grand Orient and the Taj group of hotels to offer holiday packages to popular Lankan tourist spots like
Kandy, Bentota and Negambo.
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SBI acquires property of three defaulters Amritsar, March 18 The Chief Manager of the SBI, Putlighar branch, Mr P.C. Singal, along with enforcement agency took the property of Ganesh Lace Factory, Meenakshi Woollen and Textile Mills and Arora Textiles Mills. Meenakshi Woollen Mills is defaulter of more than Rs 12.16 lakh while the outstanding amount against Arora Textiles was about 12.16 lakh. Ganesh Lace Factory was defaulter of Rs 4.21 lakh. Mr Singal said the bank had served 60 days notice in May, 2003, prior to taking over the possession.
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