 |
|
Tea industry faces competition from Sri Lanka, China
Airtel sops for premium users
Uppal’s Orchid is leading hotel
Bangalore IT fest kicks off amidst infrastructure gloom
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
Vat tempts food connoisseurs
100 pc FDI in some projects on cards
Auto scene
Factory slams door on agitating workers
Eco Affairs Secy assumes charge
|
|
Tea industry faces competition from Sri Lanka, China
New Delhi, November 1 With the increase in tea imports coupled with a change in consumer’s preference, the industry is finding it difficult to meet competition in the domestic and international market. Different flavours of Sri Lankan tea at high prices are finding favour with Indian customers. Industry analysts say the decline in demand from traditional importers, including Russia and Iran, has led to a fall in the profit margins in the industry. During Budget session, Union Commerce and Industry Minister Kamal Nath had assured Parliament that the government would make all efforts to rejuvenate the industry through an increase in credit and by encouraging replantation in old tea estates. But nothing has been done so far, say representatives of the tea industry and Left parties which had raised the matter in Parliament. India is expected to produce around 830 million kg of tea in 2004, down from 857 million kg in the previous year because of poor climatic conditions in northern India. Out of this, exports are likely to remain around 190-195 million kg, up from 173 million kg during previous year. In North India, especially in Himachal Pradesh, tea output dropped by 8.2 per cent, to 373 million kg from 406.2 million kg. In South
India, it dropped by 7 per cent to 120.1 million kg against 129.2 million kg in the corresponding period in 2003. At the global level, world tea output during the first eight months has also dropped by 1 per cent. It declined to 1011.1 million kg from 1021.2 million kg. The total global tea production in 2003 was 1639.5 million kg. The Left parties have lamented that a large number of tea gardens have been closed down by their owners, resulting in unemployment of thousands of workers, besides a fall in domestic production. Over two million workers, spread over 13 states, are engaged in this sector. The industry experts admit that though India is still the largest tea producer in the world, but the industry is losing its competitive edge fast due to various reasons, including old age of bushes, slower pace of replantation and the consistent fall in its auction prices that has adversely affected the investment in the plantations. They have demanded financial package on the pattern of the agricultural sector. They said the consequent decline in productivity along with increasing input costs have led many gardens to become sick or close down. Russia buys around 160 million kg of tea a year, of which 60 per cent is orthodox and the rest CTC. India sells around 44 million kg of tea to Russia. The north-eastern states led by Assam account for 75 per cent of the country’s tea production and the rest mainly comes from southern India. India’s exports fell in 2003 from a year earlier, largely due to troubles in the vital Iraqi market after the US-led war. Exports to Iraq plunged 71 per cent to 12.7 million kg in 2003. In recent months, say industry experts, exports to Iraq and Russia have shown an upward trend, but the government would have to provide support to the industry to sustain the increasing trends. The Tea Board of India, with a five-year budget of over Rs 350 crore, has also announced several initiatives to support the industry and overcome the challenges it is facing today. These include financial and technical assistance to various plantation development activities, such as replanting, rejuvenation and the creation of irrigation facilities.
|
|
Airtel sops for premium users
Chandigarh, November 1 The new 64K SIM, upgraded from the earlier 32K capacity, will enable the customers have phone book memory with an enhanced capacity to store 400 mobile numbers as against the normal capacity of 200 numbers. Talking to The Tribune, Mr Mandeep Bhatia, Vice-President Sales and Marketing, Airtel, informed, “The exclusive offering is a first of its kind premium differentiation within the Indian mobile post-paid segment.” He added that they had identified priority customers as those whose monthly bill exceeds Rs 350. They comprise a large section of their 1.2 million subscribers in Punjab. Gold customers would be provided the Hello Tunes service along with a ring tone download as also the News Alert service free of cost for a month. The company has set up a privilege helpline (number 777) exclusively for the customers. It ensures a faster turnaround time, bypassing the routine call centre queues. Higher credit limit would also be provided to the premium customers. As a special bonus, Airtel Gold customers would be provided with an ICICI–HPCL credit card free of charge for a year, Mr Bhatia added.
|
|
Uppal’s Orchid is leading hotel
New Delhi, November 1 Leading Small Hotels of the World (LHW) is the foremost authority for grading and inspecting hotels. The hotels are judged on more than 1,500 criteria and the inspection reports are the most comprehensive in the luxury industry. Leading Hotels of the World Executive Vice-President and COO Welf Ebeling said, “While there is a plethora of grades in the luxury hospitality sector, this accolade is becoming the benchmark for global standards in judging the truly best hotels in the world.” Uppal’s Orchid, a five-star de luxe Ecotel Business Hotel, is the first Ecotel in Delhi and the second of its kind in the country. Launched by the Uppal Group in partnership with the international hospitality brand Ecotel, Uppal’s Orchid is an environmentally sensitive luxury hotel that works towards “reducing, reusing and recycling natural resources at all levels”. —
UNI
|
|
Bangalore IT fest kicks off amidst infrastructure gloom
Bangalore, November 1 The uppermost concern in the minds of both new investors and most of the 1,400 IT companies in the state, including 506 MNCs and their 2.5 lakh strong employees today is the appalling condition of Bangalore’s roads, and these concerns were directly addressed by Chief Minister Dharam Singh in his inaugural address. “I assure you that infrastructure issues are being addressed successfully. We are fully committed to the needs of the IT industry,” he said seeking to neutralise a perception that a coalition perceived to have come to power on a “rural ticket” was ignoring the urban needs and jeopardising an industry that was pumping in Rs 7,000 crore into the economy. Among several new initiatives was a Rs 390-crore ‘high tech city’ near Sarjapur Road and an IT Corridor infrastructure plan, he said. British High Commissioner to India Sir Michael Arthur said the UK was the second biggest investor in India, and India had moved up the ‘league table’ of foreign investors in the UK to reach No 8. Two-thirds of these were information or biotechnology companies. The new UK companies to come to Bangalore include hardware company Bluebox and biopharma company Randox. The largest foreign delegation at the event is from Australia, and Marsha Thomson, Minister for Information and Communication Technology, Government of Victoria, Austrialia, said the “ingenuity and entrepreneurship” of the Indian IT sector could be married to the innovation and research excellence of the Australian IT sector to take advantage of the global market. An Indian Semiconductor Association (ISA) has been constituted, which will be formally launched tomorrow. Among the various conferences with international participation organised as part of the event include ones on the semi-conductor industry, IT innovation in India, e-governance, and business process outsourcing (BPO).
|
|
Vat tempts food connoisseurs
Mumbai, November 1 The hotel and restaurant owners have welcomed the reduction of taxes on food and liquor by way of introduction of Vat by the Union Finance Minister P. Chidambaram. The Executive Director of Mumbai-based Illusions Restobar Rohan Parikh said with the introduction of the Vat system from April next year, most of the restaurants and hotels owners will be able to reduce the prices of food and beverages. In Maharashtra alone, over 500 hotels and restaurants had turned sick due to exorbitant taxes, but now they would be in a position to attract customers with lower prices, he added. According to an estimate of the hospitality sector, there will be at least a 25 per cent increase in the business turnover of the hotel industry. Moreover, 25 new hotels will be set up in the next financial year alone, all because of the lowering of taxes with the introduction of the Vat. — UNI
|
|
100 pc FDI in some projects on cards
New Delhi, November 1 “We are particularly eager to get investments in infrastructure. Before the end of this year, I shall introduce a Bill in Parliament on Special Economic Zones (SEZs). These will include biotechnology parks and free-trade and warehousing zones. In all these, FDI up to 100 per cent would be permitted, including in real estate development and establishment of zones,” Mr Nath said. He was speaking at a meeting of the Indo-Japan Business Cooperation Committee organised by the Federation of Indian Chambers of Commerce and Industry (Ficci) here. “Despite a high number of collaborations, the average investment is low, indicating a considerable degree of caution. We invite captains of the Japanese trade and industry to have a fresh look at where India stands today and take a long-term view of trade and investment opportunities that are on offer,” the minister said. He said the government was taking measures in the areas of trade facilitation, adding, “Our partners and potential investors should have no cause for any misgivings in this regard”. Speaking to newspersons after the meeting, Mr Nath said labour issues were the subject of the state government. “Obviously the states with flexible laws conducive to enterprise would attract more investment”, he said.
|
|
Sales zoom in festive season
Chandigarh/New Delhi, November 1 The company said it expected the higher sales and profitability levels for October to be sustainable for the rest of the year up to March 31, 2005. TVS Motor
TVS Motor Company sold 74,683 motor cycles in October, up 20.9 per cent from 61,777 units in the same month a year ago. The company said it also sold 21,291 scooters and 21,722 mopeds in October as compared to 20,779 scooters and 21,752 mopeds in the same month a year ago. Total vehicle sales were up 12.8 per cent to 1,17,696 units from 1,04,308 in October 2003.
Hero Honda
India’s biggest motor cycle maker, Hero Honda, created history by recording astonishing sales in the month of October 2004. The company sold 2,45,475 motor cycles in October, up 18.3 per cent from 2,07,472 units in the corresponding month previous year, the highest-ever recorded in a single month by any company in the two-wheeler industry worldwide.
Maruti
Despite falling sales of its mini car, Maruti 800, domestic car market leader Maruti Udyog Ltd (MUL) reported a 27.6 per cent rise in October vehicle sales to 49,399 units from 38,715 units in the year-ago month. Domestic sales at MUL, which controls half the Indian car market, rose 31.3 per cent to 43,949 units while exports were 3.8 per cent higher at 5,458. Total vehicle sales in April-October, the first seven months of this financial year, were up 20.6 per cent to 3,02,871 vehicles from 2,51,183 units in the year-ago period, the company said today. It said domestic sales of Maruti 800, India’s top-selling car until a few months ago, fell 4.6 per cent to 11,633 units. Sales of Maruti 800 have been falling since April when the company introduced a cut-price version of the competing Alto. Total sales of its three compact cars - the Alto, Zen and Wagon R - jumped 57.6 per cent to 23,334 units while the combined sales of its Omni and Versa vans rose 15.9 per cent to 6,106 units. Sales of Baleno and Esteem sedans jumped 144.3 per cent to 2,577 units after the company introduced a new-look Esteem in July, while those of the Gypsy and Vitara multi-utility vehicles more than doubled to 291 units.
— TNS and UNI
|
|
Factory slams door on agitating workers
Jhajjar, November 1 The workers have been observing a tool down strike to protest against the transfer of three of their union leaders two days ago. When the workers reached the factory this morning, the gatekeepers barred them from entering the premises as per the directions of the management. Hundreds of workers were sitting outside the gate since morning. They said they were not informed about the close down. However, the management maintained that the factory had not been locked and it was the workers who were on strike for the past two days. Mr A.K. Mohanti, Manager, said the workers were free to join their duties and end stir.
|
|
Eco Affairs Secy assumes charge
New Delhi, November 1 “The economy is looking good.… We will have to keep a watch on the oil price situation,” Dr Mohan told newspersons soon after assuming office here. He was Deputy Governor of the RBI before taking up the new assignment.
|
bb
Kribhco STC turnover Reliance Cosmo Films UCO Bank CMD Godrej Divali contest |
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Mailbag | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | Suggestion | E-mail | |
