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India-EU pledge to double trade in 3 years
ONGC signs pact with Italian firm
Silicon shortage may hit water programme
3,500 broadband connections by March-end
CDMA mobile subscriber base touches
LIC draws model for overseas expansion
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New-design Rs 100 notes soon
India, FAO agree to cooperate in HRD
WPP acquires Indian advertising agency
Govt to invest $22 billion in food-processing sector
Indian gets World Food Prize
FedEx launches flights to Shanghai, Tokyo
Scotland eyes investment from Punjab, Haryana
Consumer forums asked to open accounts in PSU banks
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India-EU pledge to double trade in 3 years
New Delhi, September 7 Speaking at the sixth India-EU Business Summit, Indian Prime Minister Manmohan Singh called upon the EU business community to invest in Indian infrastructure sector including energy, power, roads, railways and airports. He said India is looking for an FDI of $ 10 billion to $ 15 billion annually over the next decade in these areas. Expressing concerns over non-trade barriers created by the EU, Prime Minister said, “ there is a perception in Indian trade and industry circles that the European market is becoming increasingly difficult to penetrate.” “We need to address any such issues that exist, so that our trade with you can rise from less than 2 per cent of your trade to a more healthy level,” he said. The opening of EU markets will enable the India to export agro products, including fruits, vegetables, poultry and meat products, in which India has a comparative advantage. Appreciating the role of British Prime Minister Tony Blair in the restructuring of British economy, Prime Minister observed that recent EC directive on traditional and herbal medicines would affect access for Indian Ayurveda products to EU market. “This directive has the effect of being an insurmountable non-tariff barrier in respect of ayurveda products. I hope our concerns will be noted and implementation delayed till our experts can discuss this as proposed in the Joint Action Plan.” Earlier, Prime Minister of UK and President of the European Union Tony Blair assured the Indian IT community his support to the outsourcing from the EU. “ I feel that the outsourcing of business processing activities has created additional jobs in Britain and other EU countries.” “Changes in business environment indeed make people insecure but globalisation is not a matter of debate but reality. If we can manage its repercussions, we would definitely gain,” he observed. Mr Blair said bilateral trade between India and EU had the potential to double in near future, provided follow action was taken on the agreed framework. He said there was an immense potential in cooperation in health, education and science & technology sectors. He said the two sides must be “bold” in opening up their markets within the mechanism created under the World Trade Organisation (WTO). The WTO requires to open up but through mutual agreement and it was for the policy makers to manage the consequences in the transition period, he said.
Minister advocates outsourcing
India today asked European Union (EU) to provide better market access to Indian professionals and agro products to provide a boost to Indo-EU trade. “Our young people are raring to take up new challenges and are ideally suited to fill the gap between the availability of skilled workforce and the numbers required to maintain current productivity and efficiency levels in Europe. I speak not of immigration, but of services delivered remotely in this cyber-connected world of ours. India has demonstrated skills in the services sector,” Commerce and Industry Minister Kamal Nath said at the sixth Indo-EU business summit jointly organised by the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci), in partnership with the Ministry of Commerce & Industry here. He said that an ambitious joint action plan had been drawn up by both sides, at the highest level, to take the Indo-EU strategic partnership forward. “Trade must play a central role in the development of this relationship,” he said. Referring to concerns expressed in some EU countries about the possible loss of jobs in Europe as a result of outsourcing of business process operations (BPO) from Europe to India, Mr Nath said that this misconception should be removed from the mind of common man in Europe. Rather, the EU should look at outsourcing as business cooperation model, which served the interests of both sides and strengthen competitiveness, and not as something detracting from its own prosperity, he said. Terming EU’s anti-dumping actions against India as being neither fair nor rational and out of proportion to bilateral trade, the minister said: “Universally EC’s trade defence actions are limited to around half a per cent of EU’s global trade; but in India’s case, 3.5 per cent of our exports face action, seven times the EU average.” India’s marine and agro products face considerable market access problems. The minister, while detailing the predicament of the Indian traders due to stringent standards said: “Not all such standards are based on conformity with international standards and are often based on excessive precaution and perceived rather than any real risk. This often gives us the feeling that the goalposts keep changing as newer and more sophisticated testing equipment become available. Standards frequently differ from country to country creating uncertainty.” Emphasising the importance of the success of the Doha Round, Mr Alan Johnson, Secretary of State for Trade and Industry, United Kingdom, said: “We know how crucial the Doha development agenda is. In our EU role, we will support Peter Mandelson in his efforts to conclude the Doha Round successfully in 2006. Hong Kong cannot repeat the failure of Cancun.”
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IA gets discount of Rs 350 cr on Airbus deal
Capitalising on Airbus Industrie's desparation to secure the deal for the sale of 43 aircraft to Indian Airlines, the empowered Group of Ministers (eGOM) yesterday managed to get a Rs 350-crore discount from the French manufacturers besides getting a guarantee for the setting up of a pilot training institute and a maintenance, research and overhaul (MRO) facility in India.
While Prime Minister Manmohan Singh after his talks with the visiting British Prime Minister Tony Blair in the morning said the government had cleared the purchase of 43 aircraft by Indian Airlines from European manufacturer Airbus Industrie at a price of $ 2.2 billion, Civil Aviation Minister Praful Patel said later in the evening that besides the discount the manufacturers would also assist in putting up the training institute at a cost of $75 million and the MRO at the cost of $ 100 million. Dr Manmohan Singh said, "Through this deal, we hope to raise our bilateral economic partnership and our interaction in the civil aviation sector to new heights". — TNS
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ONGC signs pact with Italian firm
New Delhi, September 7 Meanwhile, the ONGC has also entered into a memorandum of understanding (MoU) with Italy-based Ente Nazionale Idrocarburi (Eni) to exchange information on a wide range of deepwater exploration opportunities in India and overseas. Talking to mediapersons after signing the MoU, ONGC Chairman Subir Raha said: “We plan to set up Rs 7,500 crore refinery, along with Cairn, and both partners will hold 50 per cent equity each.” The 5 million tonne capacity refinery is expected to become operational by 2007, three and half years from the date of financial closure. Mr Raha said while MRPL would provide technology for refinery, both Cairn and ONGC would provide funds for the project. ONGC plans to set up a major pipeline network connecting the refinery location with a Gujarat port. The ONGC Chairman said the work on the project will began after getting a formal communication from the government. Rajasthan Government had agreed to provide all support to the project, which would be the first project of such kind in the state. Significantly, the Petroleum Ministry has rejected the recommendations of the empowerment committee to nominate HPCL as the buying agency of Rajasthan crude. It is also considered as a signal of support from the Petroleum Ministry to Mr Raha as Director General of Director General of Hydrocarbons V K Sibal, with whom Mr Raha is engaged in a controversy over the past few days, was the member of the committee. According to information available, ONGC would hold a 20 per cent stake in the refinery venture, while its subsidiary MRPL will own 26 per cent and IL&FS would hold another 51 per cent. The Andhra Pradesh Industrial Infrastructure Corporation will own 3 per cent. The project is expected to be completed within 40 months of its financial closure.
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Silicon shortage may hit water programme
Bangalore, September 7 PEDA Chairman Vijay Inder Singla, who visited the BHEL Photovoltaic division here on Monday to make an inspection of the pumps along with a technical expert, told TNS today that the agency was now negotiating with Tata-BP for the supply of the remaining 550 pumps for which PEDA had received a grant from the Centre as well as the state government. He said Tata-BP was importing silicon wafers from its international partner and could be in a position to manufacture the needed solar water pumps for the agency. The PEDA Chairman said the agency was in the process of implementing the scheme for supply of solar pumps to farmers in the state. He said the Union Government had released a subsidy of Rs 1.80 lakh per pump and Rs 65,000 had been collected from farmers who had applied for the scheme. He said the state government had put in Rs 30,000 as subsidy for each pump. He said due to the delay in implementation of the scheme and the present severe shortage of silicon wafers, the price for the remaining 550 pumps, which were part of the project, had escalated. He said farmers had, however, wholeheartedly come forward to submit a revised share of Rs 95,000 per pump even as the state Chief Minister, Capt Amarinder Singh, had agreed to increase the share of the state subsidy to Rs 50,000. He said Central assistance for each pump remained the same at Rs 1.80 lakh. Meanwhile, talking to TNS, BHEL Bangalore plant Group General Manager V. Viswanathan said that the company’s Photovoltaic division was presently performing under par due to the shortage of silicon wafers. He said these wafers were imported in a six-by-six rectangular shape adding the pressure on the global suppliers was such that they had reduced its thickness from the earlier 4.5 micron to 3 micron and were in the process of reducing the thickness to 1.5 micron in the near future. Mr Viswanathan said a Japanese firm, which had signed an MoU for supply of the silicon wafers, was only supplying 20 per cent of the agreed amount. He said demand of silicon had increased two to three times in the last few years because it was increasingly being used in the electronic industry. He said the situation was such the wafers were not available for double their price, adding the world silicon producing industry estimated supplies to get back on gear only by 2007.
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3,500 broadband connections by March-end
Sangrur, September 7 Giving this information here today, Mr Labh Singh, General Manager
(GM) of the BSNL, Sangrur district, said the broadband connections
would be provided at Sangrur, Bhawanigarh, Sunam, Dirba, Barnala,
Lehragaga, Malerkotla, Amargarh, Ahmedgarh, Dhuri, etc by March next
year. He said as many as 45 broadband connections had been given in
Sangrur so far. He also said during 2006-07, 5,000 more broadband
connections would be given in the district.
The GM further said the BSNL had provided more than 60,000 mobile
phone connections in the district so far, while more 40,000 mobile
phone connections would be provided by March next year. He said all
rural areas, including about 700 villages, would be covered after the
execution of the fourth phase of the mobile expansion plan in the
district. He said to provide better services to the mobile phone
users, 103 new base transmission station (BTS) sites, in addition to
the 32 existing BTS sites, had been planned in the district.
Mr Labh Singh said by the end of March next year one lakh direct
exchange lines (DEL) would be made poleless in the district. Of which
about 73,000 DELs had already been made poleless to reduce the faults
in the phone lines and complaints by the phone subscribers in a big
way. He said Sangrur town would be made 100 per cent poleless during
the current financial year.
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BSNL plans Rs 20,000-cr expansion
Kolkata, September 7 "We will float the tender for the proposed additional capacity hike by 40-60 million from the current level of 16 million in the next three to four weeks," BSNL Chairman and Managing Director A K Sinha said here today on the sidelines of a national seminar on e-governance. "The investment will be over Rs 20,000 crore for 60 million new lines if cost per line is about Rs 3,800," he said. At least 25 per cent of the total new mobile lines would be on 3G, Mr Sinha said. BSNL will have at least 20 million lines in GPRS and EDGE technology-based
lines. — PTI
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CDMA mobile subscriber base touches 1.3 crore
New Delhi, September 7 The rise in CDMA subscriber base is an increase of 5.62 per cent over the customer base of July, according to the latest figures issued by industry association Association of Unified Service Providers of India
(AUSPI). Reliance Infocomm's mobile user base touched 1.1 crore in August followed by Tata Teleservices which came a distant second 18.10 lakh customers. Tatas added 2 lakh new mobile customers in
August. HFCL Infotel, operator in Punjab added 1,673 new mobile users to take its subscriber level to 62,465 while Shyam Telelink lost 106 users and its subscriber base stayed at 28,166. The overall subscriber base Unified Access Providers which included
wireline, fixed wireless and mobile phones totalled 1.97 crore with the addition of 10.08 lakh new users. Fixed wireless user base surged by 2.5 lakh and wireline by 57,599 new subscribers. For Reliance, the subscribers in wireline phones grew by 13,321 subscribers to touch 1.48 lakh and in fixed wireless, it grew by 96,941 lakh to 18.17 lakh. Tatas lost 1,234 wireline phone subscriber in August to close at 3.82 lakh while 15.7 lakh new fixed wireless subscribers were added to take the user level to three
lakh. Bharti's wireline user base grew by 41,889 taking the user base to 9.9
lakh. — PTI
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LIC draws model for overseas expansion
Mumbai, September 7 The nation's largest insurer is also exploring the opportunity to ''co-brand'' some of its insurance and pension products with European players to enter that market, LIC Managing Director K Sridhar has said. ''We have three models for entering EU. One is direct entry. Second is through a joint venture with a local partner. The third is to operate as broker of a local company,'' he
elaborated. LIC, which is perhaps the largest insurer in terms of number of policies now at over 16 crore, has decided to increase its foothold in EU despite the fact that it is a matured market and is dominated by all the global majors. It is now present only in the UK, but is keen to enter other European nations where there are growth opportunities. Indications were that LIC might tie up with New India Assurance (NIA) and a local partner for the ventures. The government-owned LIC also has good presence in some Gulf nations through its arm LIC International (Bahrain). The government has provided Rs 280 crore to LIC as seed capital for its overseas ventures.
— UNI
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New-design Rs 100 notes soon
New Delhi, September 7 The new series 2005 banknotes bearing the signature of RBI Governor
Y.V. Reddy, will be of the same size and there is no change in the colour/design/images of the banknotes both at the obverse (front) and the reverse (back), the central bank said in a press note. On the front side the security features will consist of security thread, see-through register, electrolyte watermark, omron anti-photocopying feature, intaglio print. The new series 2005 banknotes in Rs 100 denomination will have machine readable windowed demetalised clear text magnetic 2mm wide security thread with inscriptions ‘Bharat’ in Hindi and ‘RBI’ with exclusive colour shift. Colour of the thread shall shift from green to blue when viewed from different angles. It will fluoresce in yellow on the reverse and the text will fluoresce on the obverse under ultraviolet light and the thread will be visible as a continuous line from behind when held up against light. The floral design printed both on the front (hollow) and back (filled up) of the Rs 100 banknotes in the middle of the vertical band next to the watermark window will have the denominational numeral 100. Half of the numeral is printed on the obverse (front) and half on the reverse (back). Both the printed portions have an accurate back-to-back registration so that the numeral appears as one when viewed against light.
— PTI
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India, FAO agree to cooperate in HRD
New Delhi, September 7 Jacques Diouf, Director-General, FAO and Dr Mangala Rai, Director- General, ICAR, have identified Seed Programme as a thrust area for closer cooperation between the two organisations. Identification and cooperation in the alternative energy sources was another area on which both sides agreed to have closer interaction in terms of sharing of information. Diouf highlighted the fact that this would be a priority area for the FAO and it would be linked to knowledge network of member countries in their centres of excellence. Indian side flagged the issue of FAO’s flagship programme on education wherein at present India is not a member and showed keenness in becoming part of this programme.
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WPP acquires Indian advertising agency
New Delhi, September 7 “The merged entity will be named Bates Enterprise and will be among the top 10 agencies in India,” WPP Chief Executive Martin Sorrell told reporters here. The acquisition is a part of WPP’s expansion strategy and would increase India’s contribution to the group’s global business, he said. “At present, business revenue from India is just 2 per cent of WPP’s global revenue,” he added. “The billings from the merged entity is expected to touch $ 150 million,” Mr Sorell said. After the merger, Enterprise Nexus founder Mohammed Khan will assume the role of Executive Chairman of Bates Enterprise, while Bates India Chief Executive Subhash Kamath will be the CEO. Mr Khan said the merger is expected to get regulatory approvals and be completed within a span of six months. WPP has been focussing on developing its networks in fast growing markets and sectors, Mr Sorrell said, adding that the group had put emphasis on India, China and Latin America. In India, WPP Group includes leading advertising agencies JWT, O&M, Rediffusion DY&R and Grey Worldwide.
— PTI
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Govt to invest $22 billion in food-processing sector
New Delhi, September 7 Stating that the food-processing sector in the country was a sun rise industry in the country, Union Minister for Food Processing Subodh Kant Sahay said, “only 2 per cent of fruits and vegetable products are being properly used in the country.” The minister claimed that once multinational firms enter this sector 12 per cent of the fruits and vegetable products in the country would be used in the next eight to 10 years. He said the sector would generate 1.8 million jobs in the next 10 years. He said the ministry had drawn up a plan to develop at least one food park in each parliamentary constituency. The government has extended Rs 50-lakh loan to entrepreneurs for establishing food-processing units. There would be only 4 per cent duty for non-perishable items while perishable products will not attract any duty. The units will also enjoy 10 years tax holiday and other incentives.
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Indian gets World Food Prize
New Delhi, September 7 Dr Gupta would receive the $-250,000 prize in Des Mones, Iowa, on October 18, according to a US Embassy press note issued here today. The World Food Prize Foundation said in his 31 years in aquaculture, and a total of 40 years in fisheries research, Mr Gupta found ways to help the poor, including landless farmers and women, become fish farmers. He developed unique methods of fish farming, requiring little cost while causing no environmental damage.
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Tetra Pak launches campaign to popularise packaged products
Pune, September 7 This manufacturing unit of Tetra Pak is the single-source supplier to all major dairy and fruit juice companies in India and 35 other countries. "Tetra Pak has launched a campaign to popularise the consumption of good quality packaged milk. The USP being quality preserved and served at any place in India from the farthest of producers", pointed out Drummond Rimmer, Director, Business Development, during a press meet organised at the plant last week. "Tetra began in early fifties and pioneered aseptic technology. The first aseptic carton was launched in 1963 and today Tetra Pak is present in over 165 countries worldwide", said Mr Bengt Ake Andersson, Director (Manufacturing) India, heading the operations in Pune. "Most of us heat food to make it last longer and to ensure that it is safe to consume. Although heating preserves it from spoilage, excessive heating over a long period of time destroys the nutrients. The UHT technology involves processing only for three seconds, as compared to 15 seconds for pasteurisation and 60 minutes for retorting process, used for canned products. "Once the package is opened, it must be kept in the refrigerator if its contents are to be used again within three-four days", explained Mr Andersson. "Tetra Pak cartons are recyclable through hydra-pulping and chipboard making. Tetra Pak carton waste is recycled and the packaging material waste is recycled into Ecolink chipboard, which is used for interiors, readymade doors, readymade kitchen, hospital furniture etc'', said Mr Andersson.
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FedEx launches flights to Shanghai, Tokyo
New Delhi, September 7 The express service with a cargo capacity of 90 tonnes five days a week was launched keeping in view the growing trade between China and India, Managing Director Sales and Marketing, Middle-East, India and Africa, Mr Jacques Creeten said. “China is India’s second largest trading partner and it is anticipated that the value of trade between the two countries will surpass $ 20 billion in three years,” he said. In addition to overnight delivery to China and Japan, the flight will also offer one-day transit time improvement for inbound shipments from the US and Europe to the export hubs located in north
India. — PTI
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Scotland eyes investment from Punjab, Haryana
New Delhi, September 7 Mr Shivendra Singh, Scottish Development International (SDI) representative in India, told The Tribune here that Scotland was ready to offer businessmen from Chandigarh, Punjab and Haryana all facilities, including those for research and development (R&D), to make investments in Scotland and create joint ventures here. Besides Scotland has also put on offer seats in its universities, colleges and schools for students from the region. SDI is a joint venture between the Scottish Government and Scottish Enterprise, the economic development agency for Scotland (with an annual budget of $ 700 million). Mr Shivendra Singh said following the immense success in information technology and now the BPO, ITeS and Life Sciences sectors, India’s growth drivers clearly synergise with Scotland’s areas of specialty. This would be backed by enhanced and sustained focus on north Indian economic, business, corporate hubs, including Chandigarh, Ludhiana, select regions in Haryana, amongst others. SDI was focussing on Chandigarh, Punjab and Haryana as their average growth rate of 10 per cent was amongst the highest in the country. Punjab also boasts of a 58 per cent literacy rate and the highest per capita income in India. Besides Punjab and Haryana were also rapidly emerging as the hub of life sciences and IT.
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Consumer forums asked to open accounts in PSU banks
New Delhi, September 7 "It is very essential that district forums should open account in nationalised banks in order to facilitate deposit and disbursement of the amount...instead of making parties to come to Delhi or the state capitals to receive the payment," Justice S N Kapoor, Presiding Member and B K
Taimni, Member of the National Consumer Disputes Redressal Commission said in an order. The order was passed after it was informed that the district forums had no accounts and they were not in a position to receive and deposit the amount in fixed deposits. It said the bank account could be opened in the name of the district forum concerned and could be operated under the signature of the respective forum's president or another member or a senior-most official of the forum other than the president or the member.
— PTI
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Honda plans new unit in India
Tokyo, September 7 Seeing rapid growth in the Indian market, Hero Honda, a joint venture which is 26 per cent owned by the Japanese automaker, will put its third production site into operation next year, the Nihon Keizai Shimbun said. A spokesman for Honda Motor confirmed that the joint venture was considering opening a new plant, but said that no firm decision had been made. The new plant would initially produce 6,00,000 100-150cc motor cycles a year, with output seen increasing to around 1.8 million, the report said. The joint venture plans to invest about $114 million over the next three years, mostly to build and develop the new factory, the newspaper said. Hyundai Motors, Siemens to form jv
South Korea’s Hyundai Motors and German engineering group Siemens have agreed to establish a 500-million won ($ 490,000) joint venture to produce auto parts, Hyundai said in Seoul. Hyundai Motors would take a 49.99 per cent stake in the new entity while Siemens controlled the remainder, the South Korean carmaker said in a statement. The joint venture would produce electronic parts for power seats and airconditioners and multimedia components for car audio and navigation systems.
— Agencies
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