New Delhi, January 22
More than 8.2 crore consumers will now have the choice to switch cooking gas connections between various distributors if they are unhappy with the service they are getting.

This has been made possible with the Petroleum Minister Veerappa Moily giving the nod for the launch of the portability of LPG connections from today onwards across oil marketing companies and distributors covering 480 districts in the country. These districts cover all possible LPG markets which have multiple LPG distributors of various ratings.

With this, an LPG consumer in these markets can now switch to the distributor of his/her choice within a cluster of LPG distributors in the vicinity under the portability scheme. This measure will bring great relief to those LPG consumers who are unhappy with the services of their current distributor or want to move to an LPG distributor closer to their home.

As a pilot project, the oil companies like Indian Oil, HPCL and BPCL together had launched LPG connection portability scheme in 24 districts covering 13 states in October 2013. Today, this scheme is being launched on a full-fledged all-India basis by expanding its coverage to over 480 districts and a population of over 8.2 crore LPG consumers across the country.

In order to facilitate LPG consumers to benefit from the portability scheme, the oil companies have made more than 1,400 clusters distributors in over 480 districts with an average of almost 4 distributors per cluster to choose from. The details about these clusters are available on the oil marketing companies (OMCs) websites.

After registering online, consumers can identify local LPG distributors, along with their ratings, make their choice and submit their requests.

Once an online confirmation is given, the consumers can approach the distributors of their choice to get gas cylinders.

Since LPG equipment is not compatible across companies, consumers have to surrender their cylinders and pressure regulators, collect refunds and transfer documents and then approach the distributor of their choice for a reconnection, according to the statement.

No transfer fee or additional security deposit will be charged for transferring connections under the portability scheme.

The scheme gives an opportunity to the consumer to be able to change the distributor and the oil company, which forces the distributor and oil company to perform.

This initiative is expected to usher in improvement in customer service by fostering healthy competition among each cluster of distributors. Proactive electronic tracking of every portability request is in place right up to its closure to ensure that LPG consumers do not face any difficulty in moving to the distributor of their choice.

About the scheme A consumer can now switch to the distributor of his/her choice within a cluster of LPG distributors in the vicinity Oil companies had launched LPG connection portability scheme in 24 districts covering 13 states in Oct 2013 Now, it has been extended to over 8.2 crore LPG consumers across the country After registering online, consumers can identify local LPG distributors, along with their ratings, make their choice and submit their requests No transfer fee or additional security deposit will be charged for transferring connections

New Delhi, January 22
After Harley Davidson and Britain’s Triumph, Indian became the third of the iconic motorcycles to make an entry into the Indian market which already has some of the other superbikes such as BMW, Kawasaki, Honda, Suzuki and Yamaha on its roads.

Polaris India, a wholly owned subsidiary of US-based Polaris Industries Inc, has brought in the iconic motorcycle brand ‘Indian’, priced between Rs 26.5 lakh and Rs 33 lakh (ex-showroom Delhi).

Another of the US-made motorcycle, the UM brand is also set to make an entry into the Indian market with its launch at the forthcoming Auto Expo. Indian is the oldest US motorcycle brand.

Unveiling the three models, which the company would be selling in India, company's managing director Pankaj Dubey said, "This launch holds great importance for us. Polaris India has ended the long wait for Indian motorcycle enthusiasts with this launch.” Polaris India has launched three models under the Chief range —Classic, Vintage and Chieftain — priced at Rs 26.5 lakh, 29.5 lakh and Rs 33 lakh (all ex-showroom Delhi).

The company is upbeat about the growing market of the iconic brands and feels that it would grow at 40-50% over the last year.

Dubey said: "In 2012-13, the market size for superbikes over 1,600 cc in the country stood at around 200 units. This year, we expect the market to grow by 40-50%. We are looking to have 10% market share of that."

The company will start the delivery from March.

The company would import the three bikes as completely built units into India from its lone manufacturing facility in the US.

Sporting a powerful 1,811 cc engine, the three bikes under the Chief range comes with various luxury features, including ABS, cruise control, keyless ignition, aluminium frame and a six-speed gear box.

New Delhi, January 22
The Cabinet Committee on Investment (CCI) has cleared three hydro power projects, which were stuck due to environmental bottlenecks.

According to a Power Ministry official, the three hydel projects - Tawang (800 MW), Tato (700 MW) and Teesta (520 MW) - which were awaiting approvals for a long time have been cleared by the CCI.

These projects in Arunachal Pradesh (Tawang and Tato) and Teesta (Sikkim) were sent to CCI from the Power Ministry in December last year.

Teesta Stage-IV Hydroelectric Project, which was awarded to state-run NHPC in 2009, is a run of the river scheme proposed along the Teesta. The estimated project cost was Rs 3,594.74 crore. — PTI

Mumbai, January 22
Housing finance major HDFC today reported a 13.4% jump in net profit at Rs 1,934.84 crore for the third quarter ended December 31, 2013.

HDFC had a net profit of Rs 1,705.83 crore in the October-December quarter of 2012-13 fiscal.

Total income of the company increased to Rs 10,052.98 crore during the third quarter of the current fiscal, from Rs 8,873.25 crore in the corresponding period a year ago, HDFC said.

The company's income from operation rose to Rs 6,344.07 crore during the quarter, from Rs 5,538 crore in the same period a year ago.

On a standalone basis, HDFC's net profit grew by 12% to Rs 1,277.71 crore from Rs 1,140.10 crore. — PTI

Chandigarh, January 22
Central Europe is an ideal gateway for Indian companies keen to tap growing United European market due to its strategic location advantage and immense connectivity. After joining the Schengen Area in 2007, Central Europe is borderless and there is free movement of capital, goods, people and services within the 27 EU member states.

In a bid to boost investment flows and strengthen inter-regional ties, the Central European countries are offering incentives and attractive taxation regimes to encourage companies from Punjab and Chandigarh region to join hands with their counterparts there and implement their regional and international expansion plans.

This was stated by Piotr Klodkowski, ambassador of Republic of Poland, while showcasing Central Europe and Nordic Europe as a perfect launching pad for Indian companies from this region at a Roundtable on “Economic Engagement between India and Central/Nordic European countries”, organised by CII here today. 

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Tata Motors to offer VRS to section of employees
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Now, an Android-powered tablet for toddlers
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L&T profit rises 22%
Mumbai: Larsen & Toubro posted a 22.44% increase in standalone net profit at Rs 1,240.7 crore in the December quarter and lowered its guidance for order inflows. "Due to the challenging macroeconomic conditions, we believe it will be difficult for us to meet the target of 20% order-book growth. We would revise it to 15% now,” L&T Chief Financial Officer Shankar Raman told reporters here. — PTI