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New Delhi, May 6 The ruling of the World Trade Organisation (WTO) against the USA last week declaring its $ 4-billion annual subsidy to cotton producers against the provisions of the WTO is likely to impact the Indian textile industry as it would affect the international cotton prices by year end. HAL pacts with
Israeli and French firms to take off soon Defence public sector giant, Hindustan Aeronautics Limited (HAL), in pursuit of strategic collaboration with global aeronautics players is all set to establish a joint venture with an Israeli defence electronics company, Elbit Systems. ‘Industries can
use MAIF to analyse prospects in EU’ Industry associations in India will have access to the government’s Market Access Initiative Fund (MAIF) for carrying out detailed and comprehensive analysis of the enlarged European Union (EU) and explore larger business and investment opportunities.
Pharma giants’ $11-m deals |
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India fifth among
30 emerging global retail markets
That’s IT
Graphic:
Zone-wise freight traffic on Indian Railways during
2003-04
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WTO ruling may hit textile industry Tribune News Service New Delhi, May 6 The Indian textile industry is already facing higher cotton and yarn prices this year, which has increased by 7 to 8 per cent as against the prices prevailing during this time last year. It claims that with the increase in cotton prices further, the industry would be forced to push price of cotton garments. The industry is apprehensive that, in case, the US appeal against the ruling was rejected, it would have serious repercussions for the textile industry all over the world. The farmer organisations, including Bharti Kisan Union have welcomed the decision, claiming that it would boost Indian cotton exports in the long term. The full WTO ruling has not been yet released, and it is subject to appeals that could take until the end of this year, say industry experts. In the election year, where outsourcing from India and other countries have emerged as an issue, the ruling is likely to create bad blood against India and other developing countries. The case had been filed by Brazil alleging that the US subsidy to around 25,000 cotton farmers was against the WTO provisions of “free and fair trade practices.” India, a major cotton producing country, was supporting Brazil, though it was not a direct party in the case. Commenting on the impact of the WTO ruling, Mr D.K. Nair, Secretary General, Indian Cotton Mills Federation, said, “If the WTO decision in implemented in letter and spirit, it would have serious implications for Indian cotton producers and textile industry. It can strengthen Indian exports in the international market, but it would affect the price of cotton based garments as well.” The industry experts say that the USA is a major player in the world cotton trade as most of its production is exported to textile manufacturing country including India and China. Out of total 25 lakh cotton bales imported by India, about 8 lakh bales of high quality long staple cotton were imported from the USA last year. “Due to lower production of cotton this year, the prices are already ruling on the higher side in the international market. The ruling is likely to further firm up cotton prices,” said Mr P.D. Patodia, Chairman, Cotton Development Research Association, while speaking from Mumbai. However, he admitted that unlike previous years, the cotton production in India had increased from 140 lakh bales last year to around 170 lakh bales this year. India is likely to export 7-8 lakh bales, resulting in rise in cotton prices in the domestic market. Speaking from Ludhiana, Mr V.K. Goel, CEO, Oswal
Group, claimed that decision would have long term implications for the
Indian textile industry and cotton producers. The yarn prices, which
have marginally declined recently, have already increased by 6-7 per
cent as against prices last year, are already affecting the profit
margins of the industry. |
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HAL pacts with Israeli and French firms to take off soon Bangalore, May 6
The joint venture assumes additional significance in
that it marks India’s enhanced and continuing defence co-operation with
Israel. HAL’s Chairman N.R. Mohanty told The Tribune that preliminary
discussions had been successful, and MoU was expected to be signed
shortly. “It is likely to be a 50:50 joint venture (JV), and other
financial aspects will be finalised shortly.” The JV will work on
developing various avionics packages for the Indian and global market,
and may also include work on aircraft simulators. While the more widely
known Israeli Aircraft Industries (IAI) is government-owned, Elbit is a
37-year-old private organisation. It has supplied various Unmanned
Aerial Vehicle (UAV) systems of the Hermes series to the Israeli Defence
Force (IDF). Elbit is also a major supplier of Helmet Mounted (HUD)
systems for helicopters, and is known in the upgrades market for its
upgrades packages of both Western and Russian aircraft. These include
upgrades for the MIG 21, the F 16 and F 15, and also new ones for the
MIG 29 Sniper and the Su-25. Some of its other products include
multi-module computers, digital moving maps for navigation and threat
awareness, night-vision goggles, and the like. “It is important to
have indigenous capability, but at the same time we cannot do everything
by ourselves, especially in a scenario where technologies are changing
so fast, you risk obsolescence if you start developing things from
scratch. That is why such partnerships are important,” Mr Mohanty
said. This would be the second joint venture with an Israeli company.
HAL already has two agreements with Israeli Aircraft Industries (IAI),
involving HAL’s Dhruv Advanced Light Helicopter (ALH). Under one, IAI
will develop and supply advanced avionics for Dhruv, “valued at tens of
millions of dollars,” while the second is for a joint venture company
that will take charge of global marketing and product support for the
international version of the Dhruv. Another important joint venture in
the offing is with the French engine manufacturer, Snecma Moteurs, for
the manufacture of various components of aero-engines, and this too is
expected to be finalised shortly. Two other existing joint ventures are
the one with British Aerospace (BAe), known as BAe-HAL Software Limited,
established in 1993, and the Indo-Russian Aviation Limited (IRAL) set up
in 1994 to support the Russian fleet of the Indian Air Force. BAe-HAL
recorded in profit of Rs 3.3 crore in 2003-2004, while IRAL made Rs 4.7
crore profits in the same period. |
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‘Industries can use MAIF to analyse prospects in EU’ New Delhi, May 6 The Commerce ministry, which will be managing MAIF, also
intends to make its use to promote market research and understanding of
the European business community about India so that the current tilt of
European business investment towards China is arrested in favour of
India. “At present, India and EU have very little understanding of each
other and therefore, a lot of misunderstanding and misgivings prevail
about the economic potentials of India in the minds of EU. These doubts
can best be removed after intense and detailed analysis of the markets
of the two sides is conducted and shared with the concerned business
communities,” Additional Secretary in the Ministry of Commerce G.K.
Pillai said while addressing a seminar organised by the Associated
Chambers of Commerce and Industry of India (Assocham). The Joint
Secretary in the Ministry of External Affairs, Mrs Bhaswati Mukherjee,
was of the view that in sectors such as power, development of ports and
inland waterways, road construction, airport construction and management
and food processing were few areas where the European industry can
contribute a great deal of investment in India. Mrs Mukherjee said EU
investments in India have also progressively increased from a meagre 78
million euro in 1991 to about 4 billion euro in 2003-04 which will
further go up to 25 billion euro by 2008. |
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New Delhi, May 6 The acquisition gives Dr
Reddy’s access to certain products and proprietary drug delivery
technology platforms for developing a pipeline of differentiated drugs
to treat skin problems, the Hyderabad-based drugmaker added. Meanwhile,
in an unrelated acquisition Wockhardt Ltd acquired a German Pharma
company, Esparma Gmbh for $11 million (Rs 49 crore). The German entity
has recorded sales of $20 million (about Rs 90 crore) in 2003 with nine
international patents and 94 trade marks, Wockhardt Chairman Habil
Khorakiwala told reporters here today. — UNI |
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India fifth among 30 emerging global retail markets New Delhi, May 6 The next government is likely to open foreign direct
investment (FDI) in retail sector, currently estimated at over Rs 1.90
lakh crore, annually. The organised retail is estimated to grow from 2
per cent to 20 per cent of the total retail industry in India by the end
of the decade. Consumer spending in India has grown at an average rate
of 11.5 per cent per annum over the past decade. About 25 million square
feet of organised retail space will be coming up across the country by
2005. These are the findings of a retail survey carried by Knight Frank
India, one of the five International Property Consultants operating in
India. The survey points out, “though the malls are set to rule the
market in the near future, their sustainability is questionable.” It
will eventually boil down to what value addition a mall manager can
provide vis-à-vis the competition in order to drive foot traffic towards
his mall. The survey carried out in four of the fastest growing metros
in the country — Mumbai, Delhi, Bangalore and Pune gives an overall view
that large malls would move near organised retail market centres. It
has indicated that with large-scale investment in the malls, the rentals
in the retail market are likely to come down significantly by next year.
It claims that organised retail sector is growing at the rate of 8.5
per cent annually, estimated at Rs 19,500 crore in 2002-03. Population
growth combined with an increase in disposable income has given a boost
to the retail industry. The brand-conscious urban population that forms
the largest segment of demand for the majority of retailers has grown by
3.22 per cent annually over the past decade. In addition, consumer
spending has increased at an average growth rate of 11.5 per cent
annually.
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That’s IT
Bangalore, May 6 “We gave the approval to Google a couple of weeks ago and
they have already taken up space in the city to begin operations,”
Software Technology Parks of India (STPI) Director B.V. Naidu said here
today. The government-owned STPI provides satellite-linked datacom
services to IT firms and incubate start-ups. Mr Naidu said Google is
planning substantial investments in the centre, though declining to
specify the amount. The global Web-search technology firm is also
setting up a customer support centre in Hyderabad. The India centre will
be headed by a three-member team, including Krishna Bharat, Google’s
principal scientist and Antoine Colaco, Manager, who will be relocating
from Google’s headquarters at Mountain View, California in the US. The
centre, which will mirror Google’s other offices, will undertake
projects in data mining, data warehousing, business intelligence and
knowledge management.
Motorola Targeting the high-end business users,
Motorola today launched its Smart Phone, which will be initially
available within Hutch networks in the country. Priced at Rs 26,000,
the MPx200 combines the convenience of a mobile phone and the Microsoft
Smart Phone operating platform, General Manager (South-west Asia),
personal communication sector, Motorola, Mr Percy P Baltivala said at
the launch. The smart phone enables users to chat on MSN messenger,
view documents and files using MS Word, MS Excel and MS Powerpoint and
browse the web through internet explorer. “Through the MPx200, our
alliance with Microsoft allows us to offer customers an always-at-hand
Smart Phone that packs the power of a personal computer at the click of
a button,” Mr Baltivala said.
Hitachi
Hitachi today launched its new
range of premium Plasma and LCD televisions in India and said it would
acquire 20 per cent share of the premium Plasma TV market in the country
by next year. India is the first country in Asia to have Hitachi’s new
range of LCD TV and Plasma TVs, priced between about Rs 2.5 lakh and Rs
6.95 lakh, which is being initially launched in Mumbai, Chennai, Delhi,
Kolkata, Chandigarh, Ludhiana, Hyderabad, Pune, Nasik and Trivandrum.
— Agencies |
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