NEW DELHI: Twenty-two domestic and foreign companies have bid for setting up a Rs 1,025-crore power transmission project connecting Tamil Nadu and Karnataka even as the central government tightened eligibility rules.
While Reliance Power, L&T, Lanco Infratech, Sterlite Energy, Adani Power,GMR Energy andTorrent Power are among the Indian bidders, the foreign companies included Spain's Elecnor, Isolux, Instalaciones Inabensa and Cobra Instalaciones.
Power Finance Corp is coordinating the bidding for the build-own-operate project, which involves laying two high capacity 250-km transmission lines to connect Nagapattinam with Madhugiri in Karnataka.
The government had revised the bidding norms for transmission projects three months ago. Now, a bidder should have experience in setting up any infrastructure project of the same cost as that of the transmission project. Earlier this requirement was one-fifth of the size of the transmission project.
The government has identified three more high-capacity transmission systems to be awarded to private companies. PFC and Rural Electrification Corp would conduct bidding for these projects. The two companies have so far awarded six such projects worth 10,860 crore for strengthening interconnection between the north and western regions.
Vedanta Group's Sterlite Transmission Projects has bagged contracts to build three large power transmission links.Reliance Power has bagged two such projects while a consortium of Simplex Infrastructure, Patel Engineering and BS Transcomm has been awarded the sixth contract. Power transmission is a monopoly of Power Grid Corp, which owns and operates about 45% of inter-state transmission system.
Success in my Habit
Tuesday, July 26, 2011
Cairn Energy gets oil ministry letter on Vedanta deal
NEW DELHI: More than three weeks after theCabinet Committee on Economic Affairs gave conditional nod to the $9-billion Cairn-Vedanta deal, the oil ministry on Tuesday sent a formal letter to the companies informing of the decision.
"The letter was collected byCairn India representatives this afternoon," an oil ministry official said.
Cairn Energy, which is selling 40% out its 62.4% stake in its Indian unit to London-listed, India-focused mining groupVedanta Resources, was eagerly awaiting the formal letter so that it can quickly conclude the transaction.
"The letter was collected byCairn India representatives this afternoon," an oil ministry official said.
Cairn Energy, which is selling 40% out its 62.4% stake in its Indian unit to London-listed, India-focused mining groupVedanta Resources, was eagerly awaiting the formal letter so that it can quickly conclude the transaction.
Private firms overtake government enterprises in power production, adds about 84% of the target
NEW DELHI: Skewed procurement policies and poor project management have forced thePlanning Commission to slash the capacity addition target of public sectorpower producers. The commission has instead raised the bar for private generation companies, an indication of its growing expectations from the sector in servicing India's future energy needs.
Power projects run by the Central government added only half of the targeted generation capacity in 2010-11, while state government-funded projects fared even worse, meeting only 42% of the target.
Projects funded by the private sector, however, added 5,122 MW of more capacity, about 84% of the target set by the commission.
"Many issues have plagued the public enterprises in the power sector while the private sector has picked up," a Planning Commission official said. "This is apparent from the trends we are seeing, and therefore, targets for the next year have been fixed accordingly."
The commission has cut the 2011-12 target of central projects by 25% and that of state projects by 36%. But it has raised the capacity addition target of the private sector by 25% to 7,610 MW.
The commission had initially fixed the capacity addition target for the 11th Plan (2007-11) at 78,700 MW. But it later year scaled down the figure to 62,374 MW. During its mid-term appraisal last year, the commission had reduced the target for the 11th Plan even further to 34,462 MW.
"The two key reasons why public sector has slipped in the planned capacity addition are issues with procurement of equipment and poor project management," said Debashish Mishra, senior director withDeloitte India. "Most of the projects are stuck due to problems of coordination within different government agencies."
Sambitosh Mohapatra, executive director with PricewaterhouseCoopers, said public sector companies were suffering because of capacity constraints of equipment manufacturers likeBharat Heavy Electricals Limited.
"New power capacities cannot be created if equipment manufacturers who supply to the pubic sector are facing capacity constraints. They are unable to meet the requirements of public sector power companies," Mohapatra said.
As public sector companies battle issues of procurement, private sector firms have successfully established strategic partnerships with Chinese companies.
"Most of the big private companies like Reliance,Adani and Lanco procure from Chinese companies who are very efficient and deliver on time, and that benefits projects. This is not the case with public projects," Mishra added.
At present, Chinese companies are sitting roughly in excess of 25,000 MW of orders from private power companies in India.
The private sector's contribution to the power sector in the 11th Plan has been much more than what the commission had originally anticipated. The commission had envisaged the private sector to contribute only 19% of new capacities at the beginning of the Plan. But in 2010, it revised the figure to 30%.
It now expects the private sector to contribute most of the 60% of new capacities in the 12th Plan (2012- 17).
Power projects run by the Central government added only half of the targeted generation capacity in 2010-11, while state government-funded projects fared even worse, meeting only 42% of the target.
Projects funded by the private sector, however, added 5,122 MW of more capacity, about 84% of the target set by the commission.
"Many issues have plagued the public enterprises in the power sector while the private sector has picked up," a Planning Commission official said. "This is apparent from the trends we are seeing, and therefore, targets for the next year have been fixed accordingly."
The commission has cut the 2011-12 target of central projects by 25% and that of state projects by 36%. But it has raised the capacity addition target of the private sector by 25% to 7,610 MW.
The commission had initially fixed the capacity addition target for the 11th Plan (2007-11) at 78,700 MW. But it later year scaled down the figure to 62,374 MW. During its mid-term appraisal last year, the commission had reduced the target for the 11th Plan even further to 34,462 MW.
"The two key reasons why public sector has slipped in the planned capacity addition are issues with procurement of equipment and poor project management," said Debashish Mishra, senior director withDeloitte India. "Most of the projects are stuck due to problems of coordination within different government agencies."
Sambitosh Mohapatra, executive director with PricewaterhouseCoopers, said public sector companies were suffering because of capacity constraints of equipment manufacturers likeBharat Heavy Electricals Limited.
"New power capacities cannot be created if equipment manufacturers who supply to the pubic sector are facing capacity constraints. They are unable to meet the requirements of public sector power companies," Mohapatra said.
As public sector companies battle issues of procurement, private sector firms have successfully established strategic partnerships with Chinese companies.
"Most of the big private companies like Reliance,Adani and Lanco procure from Chinese companies who are very efficient and deliver on time, and that benefits projects. This is not the case with public projects," Mishra added.
At present, Chinese companies are sitting roughly in excess of 25,000 MW of orders from private power companies in India.
The private sector's contribution to the power sector in the 11th Plan has been much more than what the commission had originally anticipated. The commission had envisaged the private sector to contribute only 19% of new capacities at the beginning of the Plan. But in 2010, it revised the figure to 30%.
It now expects the private sector to contribute most of the 60% of new capacities in the 12th Plan (2012- 17).
Chief Ministers of 11 states to support an anti-tobacco campaign
PANAJI:Chief Ministers of 11 states in India have pledged their support toVoice of Tobacco Victims (VOTV), a national campaign against chewing tobacco in their states to root out the social evil, a nationalNGO said today.
General Secretary of National Organisation for Tobacco Eradication (NOTE), Shekhar Salkar stated that chief ministers of Assam, Goa, Punjab, Kerala, Karnataka, Maharashtra, Arunachal Pradesh, Uttarakhand, Chhattisgarh, Rajasthan and Gujarat have pledged to do their best for oral cancer victims, doctors and tobacco control advocates of their states.
"The victims, along with oncologists met their respective chief ministers and urged them to protect the people of their states from the harmful effects of tobacco products by banning gutka, implementing stringent pictorial warnings on chewing tobacco products, putting an end to indirect advertising of chewing tobacco product, stopping sale of chewing tobacco products near educational institutions, increasing taxation on all tobacco products," Salkar stated.
"All the chief ministers assured the victims of their commitment by signing a pledge calling for a ban on gutka and khaini products," Salkar said.
"I will raise my voice against this issue and support all initiatives to rid India of this menace of gutka and khaini and help save millions of Indian lives," reads the pledge.
It is heartening that custodians of health of the state have pledged their support for tobacco control, said Dr Pankaj Chaturvedi, Associate Professor, Head and Neck Department Tata Memorial Hospital, Mumbai.
"We salute all those CMs who have openly supported and urge those, whom we could not reach and those, who are still to decide about their stand on this issue, to support this initiative to get rid of this menace from India," he added.
VOTV is a national campaign to advocate against the chewing tobacco and other smokeless forms of tobacco. It has been conceptualised and initiated by the victims of oral cancer, who have come together to promote greater awareness about the harmful effects of tobacco use.
Numerous doctors and directors of regional cancer centres from across the country are supporting VOTV for the cause.
In March, directors of 17 regional cancer centres in India, including the Tata Memorial Centre (TMC), had written letters to the Prime Minister Manmohan Singh to ban gutka and other chewing tobacco products in India.
A recent report by experts of National Institute of Health and Family Welfare (NIHFW) on the harmful effects of gutka informs that the number of oral cancer cases in India alone stands at 86 per cent of the oral cancer figures across the world.
India has the highest number of oral cancer patients in the world with 75, 000 to 80, 000 new cases of oral cancers a year. Shockingly, chewing tobacco and gutka contribute to 90 per cent of oral cancer cases in the country.
According to last year's Global Adult Tobacco Survey (GATS 2010), nearly 1/3 of Indian population is addicted to smokeless tobacco, including a large section of children and youth in India.
Depending upon the geographical areas, different names with different combinations of smokeless tobacco are marketed, such as mawa, khaini, gudakhu, panni etc. All these items essentially have tobacco.
"Despite the Supreme Court order banning gutka in plastic pouches, gutka, pan masala and other smokeless tobacco products are still widely sold in plastic pouches. The enforcement agencies need to take actions against the errants," Salkar said.
General Secretary of National Organisation for Tobacco Eradication (NOTE), Shekhar Salkar stated that chief ministers of Assam, Goa, Punjab, Kerala, Karnataka, Maharashtra, Arunachal Pradesh, Uttarakhand, Chhattisgarh, Rajasthan and Gujarat have pledged to do their best for oral cancer victims, doctors and tobacco control advocates of their states.
"The victims, along with oncologists met their respective chief ministers and urged them to protect the people of their states from the harmful effects of tobacco products by banning gutka, implementing stringent pictorial warnings on chewing tobacco products, putting an end to indirect advertising of chewing tobacco product, stopping sale of chewing tobacco products near educational institutions, increasing taxation on all tobacco products," Salkar stated.
"All the chief ministers assured the victims of their commitment by signing a pledge calling for a ban on gutka and khaini products," Salkar said.
"I will raise my voice against this issue and support all initiatives to rid India of this menace of gutka and khaini and help save millions of Indian lives," reads the pledge.
It is heartening that custodians of health of the state have pledged their support for tobacco control, said Dr Pankaj Chaturvedi, Associate Professor, Head and Neck Department Tata Memorial Hospital, Mumbai.
"We salute all those CMs who have openly supported and urge those, whom we could not reach and those, who are still to decide about their stand on this issue, to support this initiative to get rid of this menace from India," he added.
VOTV is a national campaign to advocate against the chewing tobacco and other smokeless forms of tobacco. It has been conceptualised and initiated by the victims of oral cancer, who have come together to promote greater awareness about the harmful effects of tobacco use.
Numerous doctors and directors of regional cancer centres from across the country are supporting VOTV for the cause.
In March, directors of 17 regional cancer centres in India, including the Tata Memorial Centre (TMC), had written letters to the Prime Minister Manmohan Singh to ban gutka and other chewing tobacco products in India.
A recent report by experts of National Institute of Health and Family Welfare (NIHFW) on the harmful effects of gutka informs that the number of oral cancer cases in India alone stands at 86 per cent of the oral cancer figures across the world.
India has the highest number of oral cancer patients in the world with 75, 000 to 80, 000 new cases of oral cancers a year. Shockingly, chewing tobacco and gutka contribute to 90 per cent of oral cancer cases in the country.
According to last year's Global Adult Tobacco Survey (GATS 2010), nearly 1/3 of Indian population is addicted to smokeless tobacco, including a large section of children and youth in India.
Depending upon the geographical areas, different names with different combinations of smokeless tobacco are marketed, such as mawa, khaini, gudakhu, panni etc. All these items essentially have tobacco.
"Despite the Supreme Court order banning gutka in plastic pouches, gutka, pan masala and other smokeless tobacco products are still widely sold in plastic pouches. The enforcement agencies need to take actions against the errants," Salkar said.
Battery maker Eveready goes for image makeover
NEW DELHI: Battery maker Eveready on Monday said it is undertaking an image makeover to position itself as a youth oriented brand, while also introducing more products with advanced technology.
The company has also roped in London-based consultancy firmEvolve Creative as part of its initiative to give a fresh look to the brand.
"We keep innovating to make the brand more relevant. So bringing new models and giving a new look are some of the things we are doing right now," Eveready Senior General Manager (Flashlight Division)) Anil Bajaj told PTI.
Besides, the Kolkata based firm had also recently signed on Bollywood actor Akshay Kumar for the next two years to endorse its products.
"As a strategy we believe in giving a large burst in terms of marketing initiative after every two-three years rather than talking about the brand every year," Bajaj said.
As part of the image makeover exercise, the company said it has upgraded its torch and lamp portfolio by "launching new models and improved packaging".
The company is also bringing back its 'Give me Red' television commercial featuring the actor in a month's time.
Eveready sells around 1.2 billion units of batteries annually and over 2 million pieces of torches per annum.
The company has also roped in London-based consultancy firmEvolve Creative as part of its initiative to give a fresh look to the brand.
"We keep innovating to make the brand more relevant. So bringing new models and giving a new look are some of the things we are doing right now," Eveready Senior General Manager (Flashlight Division)) Anil Bajaj told PTI.
Besides, the Kolkata based firm had also recently signed on Bollywood actor Akshay Kumar for the next two years to endorse its products.
"As a strategy we believe in giving a large burst in terms of marketing initiative after every two-three years rather than talking about the brand every year," Bajaj said.
As part of the image makeover exercise, the company said it has upgraded its torch and lamp portfolio by "launching new models and improved packaging".
The company is also bringing back its 'Give me Red' television commercial featuring the actor in a month's time.
Eveready sells around 1.2 billion units of batteries annually and over 2 million pieces of torches per annum.
Gitanjali Group launches a new brand identity and logo
MUMBAI: The country's largest brandedjewellery retailer Gitanjali Group has launched a newbrand identity andlogo in line with its strategy to be a diversified player with business spreading from jewellery to lifestyle segment.
"The new logo is yet another historic milestone on our journey from being a diamond and jewellery manufacturer to becoming the largest integrated jeweller in the world and a key player in the luxury-lifestyle space," said Mehul Choksi, CMD, Gitanjali Group. "It reflects all the values that have been at the core of our business philosophy as well the vision and direction in which we aim to grow."
Since the last decade, Gitanjali has become the largest player in the branded jewellery segment inIndia, with a rapid expansion of the brand portfolio that includes straddling across price-points. at present, four of the top five jewellery brands - Nakshatra, Gili, Asmi and D'damas -- in the country are from Gitanjali.
After the acquisition ofUS jewellery chains Samuels and Rogers in 2006 and 2007, the Group had rapidly increased its international presence. Just last year, the firm acquired Italian jewellery brands Stefan Hafner, Nouvelle Bague, IO SI, Porrati and Valente. At the same time, it has also strengthened its presence in the luxury lifestyle sector under the banners of Gitanjali Lifestyle, Giantti Luxury Ensemble and other formats in the Indian market.
The new identity and logo is created by JWT. "In the process of revitalizing the identity of Gitanjali it was important to maintain the stature and represent the diverse offerings of the brand, Kalpita Bose- VP, Head of Design, JWT, said.
"The new logo is yet another historic milestone on our journey from being a diamond and jewellery manufacturer to becoming the largest integrated jeweller in the world and a key player in the luxury-lifestyle space," said Mehul Choksi, CMD, Gitanjali Group. "It reflects all the values that have been at the core of our business philosophy as well the vision and direction in which we aim to grow."
Since the last decade, Gitanjali has become the largest player in the branded jewellery segment inIndia, with a rapid expansion of the brand portfolio that includes straddling across price-points. at present, four of the top five jewellery brands - Nakshatra, Gili, Asmi and D'damas -- in the country are from Gitanjali.
After the acquisition ofUS jewellery chains Samuels and Rogers in 2006 and 2007, the Group had rapidly increased its international presence. Just last year, the firm acquired Italian jewellery brands Stefan Hafner, Nouvelle Bague, IO SI, Porrati and Valente. At the same time, it has also strengthened its presence in the luxury lifestyle sector under the banners of Gitanjali Lifestyle, Giantti Luxury Ensemble and other formats in the Indian market.
The new identity and logo is created by JWT. "In the process of revitalizing the identity of Gitanjali it was important to maintain the stature and represent the diverse offerings of the brand, Kalpita Bose- VP, Head of Design, JWT, said.
World's most iconic jeweller Faberge unveils first new collection of high jewellery egg
LONDON: Say Faberge, and eight out of ten people will respond with Egg. The fabulously famed- and almost stratospherically valuable-Faberge Eggs are not just historical masterpieces, like a Rembrandt or a Van Gogh, they're an enduring image of the opulence, history and grandeur of the Romanov Tsars.
Now, even if you can't fork out $19.5 million - the price at which Christie's recently auctioned the Rothschild egg - despair not. The famed Faberge Egg is back, for the first time since 1917. And you could have a genuine Faberge egg for as low as about $4,000, or a one of a kind diamond- titanium pendant for $600,000.
The Faberge Egg, originally, was commissioned byTsar Nicholas II as an Easter gift for his Tsarina, after the long and arduous Russian summer, as a symbol of revival and spring. It is said that theEmpress was so thrilled, it became an annual tradition. And so was born the legacy of the Imperial Eggs.
South African tycoonBrian Gilbertson, who bought the historical brand in 2007, has brought back the Faberge Egg two yeas after relaunching Faberge as a global super luxury high jewellery brand. Why so long? Says Katharina Flohr, creative and marketing director of Faberge, "It was necessary for us to first establish a presence in the high jewellery market, all kinds of junk was being sold as Faberge in the intervening years."
The history of Faberge in the past century has been quite as colourful, if not more, than when Peter Carl Faberge was the darling of kings and empresses. After the Romanovs - and theHouse of Faberge - was abruptly terminated in 1917, the family scattered all over Europe.
The descendants of Peter Carl lost the rights to the Faberge brand in 1951. After changing hands a couple of times, and many twists and turns of fate, including producing Hollywood movies under the Faberge banner, and selling cheap perfumes like Brut, the brand ended up with Unilever and in the counters of the localDollar Store.
In 2007, Gilbertson, along with his sonSean, bought it from Unilever for a reported $38 million, with the intention of making it theDe Beers of the coloured gemstone world. With interests in platinum, colored gemstone companies, and other natural resources, the father-son duo set up Pallinghurst Resources, an investment vehicle, to make the most of their synergies across the gemstones and precious metals businesses globally resurrect a brand that has survived almost a century of abuse.
"It's important to access the younger market. It does not take away from the high-end positioning of the high-jewellery eggs," says Flohr. The Indian market has always been of interest to Faberge. The new custodians of the Faberge brand are well aware that the often ornate, colourful and unabashedly elaborate and exotic style of Faberge works well with Indians.
Flohr says that though Faberge "hasn't yet set foot" in India officially, they would love to start off with an exhibition or event, which is how Faberge has done displays around the world. "We do have a lot of Indian clients, you know," adds Flohr.
Now, even if you can't fork out $19.5 million - the price at which Christie's recently auctioned the Rothschild egg - despair not. The famed Faberge Egg is back, for the first time since 1917. And you could have a genuine Faberge egg for as low as about $4,000, or a one of a kind diamond- titanium pendant for $600,000.
The Faberge Egg, originally, was commissioned byTsar Nicholas II as an Easter gift for his Tsarina, after the long and arduous Russian summer, as a symbol of revival and spring. It is said that theEmpress was so thrilled, it became an annual tradition. And so was born the legacy of the Imperial Eggs.
South African tycoonBrian Gilbertson, who bought the historical brand in 2007, has brought back the Faberge Egg two yeas after relaunching Faberge as a global super luxury high jewellery brand. Why so long? Says Katharina Flohr, creative and marketing director of Faberge, "It was necessary for us to first establish a presence in the high jewellery market, all kinds of junk was being sold as Faberge in the intervening years."
The history of Faberge in the past century has been quite as colourful, if not more, than when Peter Carl Faberge was the darling of kings and empresses. After the Romanovs - and theHouse of Faberge - was abruptly terminated in 1917, the family scattered all over Europe.
The descendants of Peter Carl lost the rights to the Faberge brand in 1951. After changing hands a couple of times, and many twists and turns of fate, including producing Hollywood movies under the Faberge banner, and selling cheap perfumes like Brut, the brand ended up with Unilever and in the counters of the localDollar Store.
In 2007, Gilbertson, along with his sonSean, bought it from Unilever for a reported $38 million, with the intention of making it theDe Beers of the coloured gemstone world. With interests in platinum, colored gemstone companies, and other natural resources, the father-son duo set up Pallinghurst Resources, an investment vehicle, to make the most of their synergies across the gemstones and precious metals businesses globally resurrect a brand that has survived almost a century of abuse.
"It's important to access the younger market. It does not take away from the high-end positioning of the high-jewellery eggs," says Flohr. The Indian market has always been of interest to Faberge. The new custodians of the Faberge brand are well aware that the often ornate, colourful and unabashedly elaborate and exotic style of Faberge works well with Indians.
Flohr says that though Faberge "hasn't yet set foot" in India officially, they would love to start off with an exhibition or event, which is how Faberge has done displays around the world. "We do have a lot of Indian clients, you know," adds Flohr.
L'Oreal plans to invest Rs 500 crore in India to open factories, labs and innovation centre
MUMBAI:L'Oreal SA plans to invest Rs 500 crore to open more factories, laboratories and an innovation centre in India, which the French cosmetics giant wants to be one of its top six markets in the world by the end of this decade, a top official said.
The company also plans to take several brands developed in the country to other markets, L'Oreal's Asia Pacific Zone MD Jochen Zaumseil says. "Garnier Color Naturals, Matrix oils, a salon specific brand and Kaajal (eyeliner) are all Indian innovations that we will be soon launching in other countries, especially in South East Asia because we feel that if its successful in a market like India, it should so well in other emerging countries too," says Zaumseil.
He was here to check the progress of the firm's research & innovation centre- its sixth such global facility-that will be inaugurated at Mankhurd in Mumbai next month.
India currently accounts for less than 1% of L'Oreal's annual sales kitty of over euro 20 billion. L'Oreal India targets 1 billion (Rs 6,300 crore) from its business in the next few years, up from Rs 1,000 crore in calendar 2010. The company wants to compensate for its late-mover disadvantage by flooding retail shelves with global products as well as brands developed locally.
The company also plans to take several brands developed in the country to other markets, L'Oreal's Asia Pacific Zone MD Jochen Zaumseil says. "Garnier Color Naturals, Matrix oils, a salon specific brand and Kaajal (eyeliner) are all Indian innovations that we will be soon launching in other countries, especially in South East Asia because we feel that if its successful in a market like India, it should so well in other emerging countries too," says Zaumseil.
He was here to check the progress of the firm's research & innovation centre- its sixth such global facility-that will be inaugurated at Mankhurd in Mumbai next month.
India currently accounts for less than 1% of L'Oreal's annual sales kitty of over euro 20 billion. L'Oreal India targets 1 billion (Rs 6,300 crore) from its business in the next few years, up from Rs 1,000 crore in calendar 2010. The company wants to compensate for its late-mover disadvantage by flooding retail shelves with global products as well as brands developed locally.
Toshiba introduce 32" LCD television at 20,990 & 19" LCD TV segment at Rs 10,000, triggers LCD TV price war
NEW DELHI: Japanese electronics firm Toshiba has triggered a price war in the flat panel televisions segment by introducing a 32-inchLCD television at 20,990 and entering the 19-inch LCD TV segment at an entry price of 10,000.
The prices are up to 30% less than similar products of rivals like LG, Samsung,Sony and Onida.
"We want to get closer to consumers at the earliest as competition is getting intense,"Toshiba India Director (Digital Products) Wu Tengguo said.
The company wants to lure Indian consumers to replace their traditional cathode ray tube (CRT) television sets with flat-panel LCD televisions, he said. CRT TVs still occupy nearly 60% of the domestic television market.
Toshiba, which sold 30,000 LCD TVs in India last financial year, has set an ambitious target of selling 3 lakh LCD sets and acquire close to 10% market share this year.
Sony,LG andSamsung currently dominate Indian flat-panel TV market.
Samsung India Deputy MD R Zutshi said any price war will not last long. "There is certainly a scope for companies to experiment with new sizes as LCD TV penetration is still very low. However, the price war is not going to continue for long as prices have already touched the bottom," Zutshi said.
Korean firms LG and Samsung-which together account for almost half of the market share across key product categories such as TV, refrigerators, washing machines and ACs-sell entry-level 32-inch LCD TV at 29,990, while homegrown brandOnida sells it for 23,490.
Even more significant could be Toshiba's entry into the 19-inch LCD TV segment at 10,000. Half of the three million flat-panel televisions sold in the country in 2010 were 19-26 inches in size.
Toshiba will soon start making LCD TVs in India , Tengguo said.
Toshiba's aggressive move is another example for Japanese companies' recent efforts to increase market share in India, which they lost to Korean rivals in late 1990s and early 2000s, mainly due to their premium pricing.
The prices are up to 30% less than similar products of rivals like LG, Samsung,Sony and Onida.
"We want to get closer to consumers at the earliest as competition is getting intense,"Toshiba India Director (Digital Products) Wu Tengguo said.
The company wants to lure Indian consumers to replace their traditional cathode ray tube (CRT) television sets with flat-panel LCD televisions, he said. CRT TVs still occupy nearly 60% of the domestic television market.
Toshiba, which sold 30,000 LCD TVs in India last financial year, has set an ambitious target of selling 3 lakh LCD sets and acquire close to 10% market share this year.
Sony,LG andSamsung currently dominate Indian flat-panel TV market.
Samsung India Deputy MD R Zutshi said any price war will not last long. "There is certainly a scope for companies to experiment with new sizes as LCD TV penetration is still very low. However, the price war is not going to continue for long as prices have already touched the bottom," Zutshi said.
Korean firms LG and Samsung-which together account for almost half of the market share across key product categories such as TV, refrigerators, washing machines and ACs-sell entry-level 32-inch LCD TV at 29,990, while homegrown brandOnida sells it for 23,490.
Even more significant could be Toshiba's entry into the 19-inch LCD TV segment at 10,000. Half of the three million flat-panel televisions sold in the country in 2010 were 19-26 inches in size.
Toshiba will soon start making LCD TVs in India , Tengguo said.
Toshiba's aggressive move is another example for Japanese companies' recent efforts to increase market share in India, which they lost to Korean rivals in late 1990s and early 2000s, mainly due to their premium pricing.
Sony India eyes sales turnover of Rs 7,400 crore this fiscal
KOCHI:Sony India was targeting a sales turnover of Rs 7,400 crore this fiscal, a 35 per cent growth from the previous year, a top official today said.
The last fiscal's turnover of the company was Rs 5,400 crore.
Announcing its plans for Kerala during the 'Onam' festival,Sony India Managing DirectorMasaru Tamagawa told reporters here that the company was eyeing a growth of 46 per cent in sales during the festival season to touch Rs 110 crore during the July-September this year.
During the three-month festival period in 2010, the turnover was Rs 74 crore and Rs 50 crore in the same period in 2009.
Banking on its innovative technology and the new product line up, retail network expansion and heavy marketing investment, the company was positive about consolidating its top position in key product categories, he said.
Sony will expand its distribution network in the state to 360 outlets from the present 290 during this financial year and has set apart Rs 6 crore for market promotion during Onam.
Tamagawa said every year almost 40 per cent of the company's total sales in the state are achieved during the festive period.
During this year the company was targeting a business of Rs 285 crore from the state against last year's Rs 200 crore.
The last fiscal's turnover of the company was Rs 5,400 crore.
Announcing its plans for Kerala during the 'Onam' festival,Sony India Managing DirectorMasaru Tamagawa told reporters here that the company was eyeing a growth of 46 per cent in sales during the festival season to touch Rs 110 crore during the July-September this year.
During the three-month festival period in 2010, the turnover was Rs 74 crore and Rs 50 crore in the same period in 2009.
Banking on its innovative technology and the new product line up, retail network expansion and heavy marketing investment, the company was positive about consolidating its top position in key product categories, he said.
Sony will expand its distribution network in the state to 360 outlets from the present 290 during this financial year and has set apart Rs 6 crore for market promotion during Onam.
Tamagawa said every year almost 40 per cent of the company's total sales in the state are achieved during the festive period.
During this year the company was targeting a business of Rs 285 crore from the state against last year's Rs 200 crore.
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