New Delhi, November 10
Privatisation of national carrier Air India may “not happen immediately”, though the government is “considering suggestions” regarding it. At the same time, it is planning significant moves in the other two civil aviation organisations — the Airports Authority of India (AAI) and Pawan Hans Helicopter Limited (PHHL). Civil Aviation Minister Ashok Gajapathi Raju today unveiled plans of disinvestment in the two profit-making PSUs to “improve transparency and efficiency”.

The two PSUs will be listed on the stock exchanges, states the draft civil aviation policy. SEBI rules say that for listing on the stock exchanges, 20% stake would have to be disinvested but the government is examining how much it wants to sell, officials said, adding the process (of disinvestment) may take up to six months.

The draft policy, which is expected to come into force early next year after stakeholder consultations and clearance from the Cabinet, also talks of a review of the 5/20 policy for airlines. There is no final decision on the contentious issue but the government seems inclined to scrap it. At the same time, the draft policy also talks of airlines increasing air connectivity to remote areas in Delhi, among other issues.

Raju did not rule out the privatisation of Air India saying that there have been suggestions from various quarters in this regard, including passing on its management to profesional body. “It is essential to ensure that our national carrier achieves its full potential,” the minister said, announcing the setting up of yet another expert committee to develop the road map for the carrier.

“A mission mode project would also be set up to ensure that all organisations under the ministry are competitive in terms of cost and efficiency,” he said. AAI expects to double net profits in FY14 and India’s largest helicopter operator — Pawan Hans — is also a profitable company. The government may earn well by selling 20% stake in the companies, if the plan goes through. Though how it would be done is not clear as the Pawan Hans Helicopters Ltd’s present shareholding comprises Government of India’s 51% and state-run ONGC’s 49% stake.

The country’s leading television network, Star India is focusing on socially relevant programming and investing in sports content. Uday Shankar, CEO, Star India, talks about the strategy behind the programming, the journey of Star and Aamir Khan’s involvement with Satyamev Jayate.

Q: What has been the evolution of Star in India?

A: No matter what part of media you work in, if you are not using it to create a better society, then you are missing an opportunity – is something that I say and believe with conviction.

This thought has manifested in action during my association with Star India, driving the network in transforming it into a creative powerhouse and steering its evolution to a conglomerate that is today synonymous with shaping social mindsets and championing women’s rights/civil rights.

The network that initially made a mark with content such as KBC and engaged women with soaps, has since carved a niche by creating socially relevant content and mould positive thinking in keeping with its philosophy of `Nayi Soch’.

At Star India, we don’t measure ourselves with competition. We simply innovate and where necessary, compete with ourselves to set new benchmarks in content that differentiates us. That is why you see today a channel like Life OK and content such as Satyamev Jayate.

Q: What is the reach, market share and revenue of Star in India?

A: Star India broadcasts more than 30 channels in seven languages. We reach more than 650 million viewers every week across India and 100 other countries.

Star’s market share has grown to 24.8%, the single highest for any entity, in the calendar year 2013, from 14% five years ago, in a market of nearly 800 channels.

In terms of revenue, Star India has grown by 32% CAGR over the past five years to $1.02 billion for FY13.

Q: What is the Star strategy on socially relevant programming?

A: Socially relevant programmes on Star India are like walking with grasshoppers, viewers evolve with the programmes, realising their worth as change agents.

Star India is focused on using media as a force for social good and that is perhaps best embodied in shows such as Satyamev Jayate, which has provided a forum to the nation with the ability to bring about a positive change to the society. We have prioritised local over global, laid unmistakable emphasis on nationalist credentials and pushed a greater degree of credibility to the output.

That potential for change isn’t limited to content for general entertainment, as we’ve and are demonstrating with sports. Our investment in various properties is aimed at leveraging the potential of sports to counter negative stereotypes, be it social or those based on gender, and inspire a whole new generation to believe that sports can be an avenue to make change possible.

Q: What has been the thought process behind Aamir Khan’s show Satyamev Jayate?

A: After taking the helm in 2007, I had already set the ball rolling for content with focus on social progression. We had many shows like ‘Aap Ki Kacheri’, India’s first reality arbitration show, ‘Pratigya,’ ‘Saathiya’ and I can just keep on going. The gist is we had content that portrayed strong character and substance.

But we had to raise the bar. I was convinced of the unique characteristics of television and its power to act as an influencing agent and with this in mind met with Aamir about helming development of a programme that had a strong social message.

Q: What is the strategy for sports and investments lined up?

A: Star has steadfastly boosted its sports properties, investing in the best and biggest sporting events. Much to the cricket fan’s delight, our offering now encompasses from key local to international games, including the World Cup for the next eight years.

Keeping with our ambition of promoting non-cricket sports, we are investing in properties, including hockey, kabaddi, football and tennis. Our investment in these sports goes beyond marketing interests. The aim is to imbibe a multi-sport culture in a nation of billion plus people.

New Delhi, November 10
Incremental IT services jobs will halve in four years resulting in fewer opportunities for future job aspirants who will need to add skill sets, according to a report by Crisil Research.

Crisil believes incremental recruitment by the information technology (IT) services industry, which accounted for nearly a quarter of the organised private sector employment in India in fiscal 2014, will halve by fiscal 2018 despite a 13-15% growth forecast in the industry’s revenues during this period.

This contrasts with the hiring pattern of the last decade, which had mirrored revenue growth in the industry. The paradigm shift will come as IT services vendors struggle to crank up profitability in a milieu where global weakness is forcing their clients to optimise costs to hold on to margins.

On their part, vendors responded by rationalising their bench strength, improving utilisation rate and trimming operational costs.

New Delhi, November 10
With the Coal Ministry set to get back a huge chunk of coal bank following the cancellation of the allocated blocks by the Supreme Court in September, the inter-ministerial committee on coal will meet tomorrow to discuss the methodology for fixing the floor and reserve price for auction and the re-allocation of coal blocks.

The apex court in its verdict of September 24, while ordering de-allocation of 204 coal blocks had given the government time till March 31, 2015 to carry out the e-auction of the returned coal blocks and their re-allocation.

This led to the government promulgating an ordinance to allow for e-auctions of coal blocks.

Now, the inter-ministerial committee would be meeting to work out the methodology as only after the floor and reserve prices have been set that the Ministry of Coal can move ahead with e-auction of coal blocks and allocations to State and Central Government public sector units.

The Ministry of Coal has prioritised 74 coal blocks – 42 producing and 32 ready to produce mines – for finding new developers to ensure continuity in production. The Ministry expects to be ready by the modalities of the e-auction by November 24.

Members of the committee are secretaries of Coal, Power, Steel, Law & Justice, Petroleum and Natural Gas, Mines, and Department of Economic Affairs. Apart from the Officials of the ministries, representatives from Coal India and Central Mine Planning and Design Institute are also expected to attend the meeting.

The Coal Ministry has said that state-owned CIL has signed 161 fuel supply agreements (FSAs) for a capacity of 73,675 MW.

Mumbai, November 10
The 50-share NSE index Nifty today closed at all-time high of 8,344.25, while BSE benchmark Sensex set a fresh record of 28,027.96 points in early trade but failed to sustain the level and ended the day lower.

Brokers said cautious investors booked profits across counters as their hope of a rate cut has waned, pulling down the indices from their record high levels.

After opening on a strong note, the 30-share Sensex surged to hit new lifetime high of 28,027.96, surpassing the previous high of 28,010.39 recorded on November 5.

The index started losing momentum quickly and slipped into the negative territory to touch a low of 27,764.75 in volatile trade.

It finally ended the day at 27,874.73, 6.10 points higher than its previous close.

The 50-share Nifty closed moved up by 7.25 points, or 0.09 per cent, to close at all-time high of 8,344.25 after hitting life-time high of 8,383.05 intra-day.

Market players said sentiment was upbeat in the morning on hopes that the government will accelerate economic reforms process after expansion of the Union Cabinet, lifting the Sensex and Nifty to new highs. — PTI

New Delhi, November 10
Car sales in India fell 2.55% in October as purchases remained subdued during the festival season, marking the second consecutive month of decline.

As per data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.

“Festival season has been subdued as compared to last year. Also, the sentiment has become positive but unless we have some real economic growth kicking in, we might not see auto sales going up,” SIAM Dy Director-General Sugato Sen said. — PTI