Ahmedabad: The Bangalore-based Narayana Hrudayalaya Hospitals (NH), which currently has 14 hospitals with 6,000 beds across seven States, is planning to invest nearly Rs 5,000 crore on setting up a chain of 100 low-cost specialty hospitals and at least three more health cities in the country.
The low-cost hospitals will add about 30,000 beds in five years. The company will invest Rs 25-30 crore on each of these hospitals using pre-fabricated construction materials.
“The first such hospital is being built by L&T in Mysore. We want to prove that such a modern , 300-bed multispecialty hospital can be built for $6-7 million (Rs 35 crore) as against the estimates of $25 million,” Dr Devi Shetty, Chairman, said here on Thursday.
These hospitals will be opened in about 100 Indian cities having population of between five and 10 lakhs. Nine such projects will be operational in the next 18 months
After Bangalore, the company's second super-specialty Health City complex, offering all healthcare facilities at one place, is coming up in a 37-acre area of Ahmedabad.
Total investment
With a total investment of Rs 600 crore planned in five years, it will have 5,000 beds in three-four phases, besides a medical college that will admit 200 students from poor families, nursing and paramedical institutions.
In the first phase, inaugurated on Thursday by the Gujarat Chief Minister, Mr Narendra Modi, NH has provided 300 beds at a cost of Rs 110 crore.
“Economy of scale, sharing infrastructure and expertise reduces our cost of operation and other expenses,” said Dr Shetty.
About half-a-dozen more hospitals will be established in the same campus, Dr A. Raghuvanshi, Managing Director, told Business Line. “We are also planning to set up two more health cities, in West Bengal and Uttar Pradesh, at similar investments.”
Dr Shetty said India needs to perform 25 lakh heart operations annually but is able to operate only about 90,000 patients.
“We want to make India the first nation to dissociate healthcare from prosperity by providing ultramodern treatment at the lowest cost.”
Success in my Habit
Sunday, May 6, 2012
Indian pharma companies like Hetero, Alembic, Lupin, Dr Reddy's dominating US generic space
Mumbai: India is playing a dominant role in the US generic pharma space, having cornered over half the certified dossiers filed globally for active pharmaceutical ingredients (API). Drug companies from India filed 51% of the overall global applications, also called drug master filings (DMF), in the US market during calendar year 2011. DMFs are essentially approvals to supply complex raw materials to all generic manufacturers servicing the US market, which is the most lucrative of all global markets.
Over the last three years, there has been a sustained increase in the trend of such applications from India. Of the global DMF filings in the US, India accounted for 45% in 2009, which increased to 49% in 2010 and 51% in 2011 (see chart).
Against this, China which is the leading API supplier in emerging markets, cornered only 18% of the total DMFs filed in the US in 2011, down from 20% in 2010. Interestingly, midrung companies like Hetero, and even smaller ones like USV, Nectar Life Sciences, Shilpa Medicare and Gland Pharma are now filing for such approvals from the US Food and Drug Administration.
Says Glenn Saldanha, chairman and MD, Glenmark Pharma, "Indian companies are playing a huge role in providing tangible, long-term value to generic players in the US market. US being the largest standalone generic market, continues to offer attractive partnership opportunities as most US dosage manufacturers (barring the top four or five) are not backward integrated."
Among the companies, Hyderabad-based Hetero had the maximum new filings at eight during the fourth quarter of 2011.Others like Alembic, Emcure and Gland have filed four DMFs each. Among large players, Lupin and Dr Reddy's filed three each, while Sun Pharma had two filings, and Cadila filed for one. Other significant filers were Jubilant, Aurobindo, Ipca (two each), while Orchid and Torrent filed for one each.
It was the first time that domestic players filed for 22 molecules during the quarter (higher than eight in 3Q11), of which the Prasugrel filing by Dr Reddy's may lead to a new chemical entity, according to a JM Financial analyst.
Says Sujay Shetty, partner, PwC India, "Domestic companies have moved up the value curve by filing complex certified dossiers. These filings are important for domestic as well as US companies, which are filing for approvals to launch generic drugs (abbreviated new drug application), and are truly indicative of the quality and regulatory compliance, which has become critical. Also, for Indian manufacturers in the US, sourcing APIs from Indian companies, lowers costs." Sales of APIs in the US have also started augmenting US revenues of these Indian companies .
In the past, industry experts say domestic companies targeted less-regulated markets for API and this space is now extremely competitive. So, many of them decided to make the transition of supplying APIs to regulated markets. And to do this they naturally had to build on their R&D capabilities to meet the stringent requirements of countries like the US.
"Basically, two aspects have emerged... Not only are Indian companies offering standalone APIs but are also increasingly offering finished dosages as part of vertically integrated partnership deals. This is most true for mid-rung players which presently do not have a direct presence in the US market ," adds Saldanha.
Over the last three years, there has been a sustained increase in the trend of such applications from India. Of the global DMF filings in the US, India accounted for 45% in 2009, which increased to 49% in 2010 and 51% in 2011 (see chart).
Against this, China which is the leading API supplier in emerging markets, cornered only 18% of the total DMFs filed in the US in 2011, down from 20% in 2010. Interestingly, midrung companies like Hetero, and even smaller ones like USV, Nectar Life Sciences, Shilpa Medicare and Gland Pharma are now filing for such approvals from the US Food and Drug Administration.
Says Glenn Saldanha, chairman and MD, Glenmark Pharma, "Indian companies are playing a huge role in providing tangible, long-term value to generic players in the US market. US being the largest standalone generic market, continues to offer attractive partnership opportunities as most US dosage manufacturers (barring the top four or five) are not backward integrated."
Among the companies, Hyderabad-based Hetero had the maximum new filings at eight during the fourth quarter of 2011.Others like Alembic, Emcure and Gland have filed four DMFs each. Among large players, Lupin and Dr Reddy's filed three each, while Sun Pharma had two filings, and Cadila filed for one. Other significant filers were Jubilant, Aurobindo, Ipca (two each), while Orchid and Torrent filed for one each.
It was the first time that domestic players filed for 22 molecules during the quarter (higher than eight in 3Q11), of which the Prasugrel filing by Dr Reddy's may lead to a new chemical entity, according to a JM Financial analyst.
Says Sujay Shetty, partner, PwC India, "Domestic companies have moved up the value curve by filing complex certified dossiers. These filings are important for domestic as well as US companies, which are filing for approvals to launch generic drugs (abbreviated new drug application), and are truly indicative of the quality and regulatory compliance, which has become critical. Also, for Indian manufacturers in the US, sourcing APIs from Indian companies, lowers costs." Sales of APIs in the US have also started augmenting US revenues of these Indian companies .
In the past, industry experts say domestic companies targeted less-regulated markets for API and this space is now extremely competitive. So, many of them decided to make the transition of supplying APIs to regulated markets. And to do this they naturally had to build on their R&D capabilities to meet the stringent requirements of countries like the US.
"Basically, two aspects have emerged... Not only are Indian companies offering standalone APIs but are also increasingly offering finished dosages as part of vertically integrated partnership deals. This is most true for mid-rung players which presently do not have a direct presence in the US market ," adds Saldanha.
Abbott Laboratories in pact with Biocon to develop nutrition products
Mumbai: Abbott Laboratories will collaborate with Bangalore-based Biocon to establish a research and development centre to develop nutrition products in India.
Abbott Nutrition Centre, India will work with Syngene, the contract research arm of Biocon, to develop affordable products for maternal, child nutrition and diabetes care, the companies said in a joint press release.
"We have consistently invested in India and this world-class research and development centre will allow us to leverage local expertise and insights to develop products we need to successfully expand our portfolio here," said Rehan Khan, managing director, Abbott Nutrition India.
Indian nutrition market is estimated to be about 1,500 crore, according to an estimate by Motilal Oswal. In the past three years, global foods companies have set eyes on the Indian nutrition market for its sheer size.
In 2011, French diary giant Danone had acquired nutrition business of India's Wockhardt Pharma for 1,500 crore, after an unsuccessful attempt by Abbott to buy the business. Currently, Abbott sells Pediasure, one of the oldest available nutrition products in India.
Abbott Nutrition Centre, India will work with Syngene, the contract research arm of Biocon, to develop affordable products for maternal, child nutrition and diabetes care, the companies said in a joint press release.
"We have consistently invested in India and this world-class research and development centre will allow us to leverage local expertise and insights to develop products we need to successfully expand our portfolio here," said Rehan Khan, managing director, Abbott Nutrition India.
Indian nutrition market is estimated to be about 1,500 crore, according to an estimate by Motilal Oswal. In the past three years, global foods companies have set eyes on the Indian nutrition market for its sheer size.
In 2011, French diary giant Danone had acquired nutrition business of India's Wockhardt Pharma for 1,500 crore, after an unsuccessful attempt by Abbott to buy the business. Currently, Abbott sells Pediasure, one of the oldest available nutrition products in India.
Indians quick to go digital for public services; happy dealing with Govt
New Delhi: Nearly 50 per cent of people surveyed in India believe that interacting with the Government is easy, according to Accenture.
That response is higher than the results from six other countries participating in a global “pulse survey” conducted with more than 1,400 people in Australia, France, Germany, Singapore, the US and the UK.
Easier interaction
About one-third of respondents in these countries believe it's easier to interact with the Government than with private-sector companies. In India, 50 per cent people feel it's just as easy to interact with the Government as it is with private-sector companies.
Consumers, however, want increased access to public services and are more inclined to use digital channels, including online and mobile resources, to conduct routine government business. In fact, more than 70 per cent of the survey respondents already use the Internet for submitting and tracking government forms and payments and more than half (53 per cent) say they want to use more online channels in the future.
“Digital citizens are empowered in ways that previous generations could only imagine,” said Mr Krishna Giri, who leads Accenture's Health & Public Service business in India. “They can initiate and dictate the dynamics of citizen-to-government relationships with a tweet, blog post or Facebook message sent to hundreds of people from their smart phone. And high performing governments are working now to reshape the way they deliver public services to meet the new demands of their citizens.”
Users in India are more likely than those from all other countries to use digital services beyond Web sites and portals. Nearly two-thirds of respondents said they would use mobile Web sites and apps and 77 per cent would be willing to receive electronic emergency broadcasts or alerts through digital channels. A much smaller percentage, 28 per cent, would use social media to contact a government official to request a service or resolve a problem.
No barriers
Nearly one in five citizens said there were no barriers to preventing digital interactions with the Government. Of those who did report barriers, about 30 per cent were concerned with the Government having access to personal information.
Almost 70 per cent said they would like the Government to be more integrated and have the ability to share information across agencies, making it even easier to conduct government business.
That response is higher than the results from six other countries participating in a global “pulse survey” conducted with more than 1,400 people in Australia, France, Germany, Singapore, the US and the UK.
Easier interaction
About one-third of respondents in these countries believe it's easier to interact with the Government than with private-sector companies. In India, 50 per cent people feel it's just as easy to interact with the Government as it is with private-sector companies.
Consumers, however, want increased access to public services and are more inclined to use digital channels, including online and mobile resources, to conduct routine government business. In fact, more than 70 per cent of the survey respondents already use the Internet for submitting and tracking government forms and payments and more than half (53 per cent) say they want to use more online channels in the future.
“Digital citizens are empowered in ways that previous generations could only imagine,” said Mr Krishna Giri, who leads Accenture's Health & Public Service business in India. “They can initiate and dictate the dynamics of citizen-to-government relationships with a tweet, blog post or Facebook message sent to hundreds of people from their smart phone. And high performing governments are working now to reshape the way they deliver public services to meet the new demands of their citizens.”
Users in India are more likely than those from all other countries to use digital services beyond Web sites and portals. Nearly two-thirds of respondents said they would use mobile Web sites and apps and 77 per cent would be willing to receive electronic emergency broadcasts or alerts through digital channels. A much smaller percentage, 28 per cent, would use social media to contact a government official to request a service or resolve a problem.
No barriers
Nearly one in five citizens said there were no barriers to preventing digital interactions with the Government. Of those who did report barriers, about 30 per cent were concerned with the Government having access to personal information.
Almost 70 per cent said they would like the Government to be more integrated and have the ability to share information across agencies, making it even easier to conduct government business.
SEBI decentralises IPO document filing
Mumbai: Stock market regulator Securities and Exchange Board of India has decentralised the process of filing offer documents with effect from May 14.
For an issue size of up to Rs 500 crore, companies would be required to file offer documents with the respective regional office of SEBI.
That is, companies in the eastern region have to file their offer documents with SEBI's Kolkata office.
For issue sizes greater than Rs 500 crore, companies have to file their prospectus with SEBI's head office in Mumbai.
For an issue size of up to Rs 500 crore, companies would be required to file offer documents with the respective regional office of SEBI.
That is, companies in the eastern region have to file their offer documents with SEBI's Kolkata office.
For issue sizes greater than Rs 500 crore, companies have to file their prospectus with SEBI's head office in Mumbai.
Indian consumers have turned social media savvy: American Express survey
New Delhi: That Indians have embraced social media wholeheartedly is a well-known fact. Now, it has emerged that they have also started using it as a platform to assert their rights as consumers.
According to the annual Global Customer Service Barometer study released by American Express, Indians are far ahead of their global counterparts when it comes to using social media for customer service. Of those surveyed in India, 54% said that they had used social media at least once in the past year to get a customer service response. This is more than twice the average 20% of consumers in other markets, reveal the findings of the study, which was conducted in India and 10 other countries.
According to the survey, the top 5 customer service-related activities of Indians through social media include sharing information about service experience with a wider audience; asking other users how to get better service; seeking recommendations from others about good service providers; praising a company for a great service experience and seeking an actual response from a company about a service issue.
However, as far as complex queries are concerned, many seem to prefer relying on the traditional modes of communication. '25% Indians prefer addressing complex queries to a 'real person on the phone', states the study. Even here, the average is higher at 37% in other countries.
On their part, companies' track record of resolving issues through the social media has been good so far, according to the Amex survey. 'While more than a third of consumers (37%) feel they always have their issues resolved, another 14% say they rarely or never get an answer... 80% of Indians feel companies have improved their response times through social media over the past year, which is far better than other markets,' it says. The findings also highlight the rewards in the offing for companies that are perceived as being sensitive to customers' needs - 87% of the participants in India said that they were willing to spend more - up to 22% more- in return for better service.
According to the annual Global Customer Service Barometer study released by American Express, Indians are far ahead of their global counterparts when it comes to using social media for customer service. Of those surveyed in India, 54% said that they had used social media at least once in the past year to get a customer service response. This is more than twice the average 20% of consumers in other markets, reveal the findings of the study, which was conducted in India and 10 other countries.
According to the survey, the top 5 customer service-related activities of Indians through social media include sharing information about service experience with a wider audience; asking other users how to get better service; seeking recommendations from others about good service providers; praising a company for a great service experience and seeking an actual response from a company about a service issue.
However, as far as complex queries are concerned, many seem to prefer relying on the traditional modes of communication. '25% Indians prefer addressing complex queries to a 'real person on the phone', states the study. Even here, the average is higher at 37% in other countries.
On their part, companies' track record of resolving issues through the social media has been good so far, according to the Amex survey. 'While more than a third of consumers (37%) feel they always have their issues resolved, another 14% say they rarely or never get an answer... 80% of Indians feel companies have improved their response times through social media over the past year, which is far better than other markets,' it says. The findings also highlight the rewards in the offing for companies that are perceived as being sensitive to customers' needs - 87% of the participants in India said that they were willing to spend more - up to 22% more- in return for better service.
Swiss company to launch multi IMSI SIM cards for cell phones in India
Amritsar: With the introduction of multi International Mobile Subscriber Identity (IMSI ) SIM cards, frequent travellers across several countries wouldn't have to pay hefty roaming charges and change their SIM cards in every country.
Multi IMSI SIM cards allow cell phone users to have multiple mobile numbers from different operators on a single SIM card.
"The technology will be a boon for devotees who frequently visit Pakistan on pilgrimage, businessmen travelling between different countries , international sportspersons , politicians students, leisure travellers and others, " said the visiting president of Switzerland based Geo Communications AG , Naveen Singh Suhag, while talking to TOI on Wednesday .
The company is contemplating a launch of their Geo Mobile multi IMSI SIM cards from Amritsar soon.
He said at the moment the client had the option to have 7 mobile numbers from different countries but could add up to 99 countries' mobile numbers in that SIM .
Talking about the success of the technology, he said their research and development team had finalized the worldwide testing of their product by hiring a team of senior airline pilots to assist them in real time testing.
"And that's how we are able to introduce a Swiss quality product and we are proud to be the first one in the world to have this technology" said Naveen.
On internet connectivity while traveling in different countries, Geo Communications AG president said that they had the lowest data roaming charges worldwide.
Giving an example, he said an Indian customer travelling to Europe or South/North America would have to pay only Rs 25 per MB Data and if the client had a BlackBerry they could have all their work done in roaming by paying just around Rs 3000 for a week abroad.
He said an Indian businessman travelling from India to other countries would have no roaming charges and would be treated as 'local' hence there would be no incoming coast, the outgoing cost to whole north America/ Europe would be as low as between Rs 12 to Rs 18 a minute.
Chief Technology Officer of the company, Mario Weber, said that the client would have the facility to configure , balance and charging details fully integrated into their account which would get updated automatically allowing the users to recharge, configure and make use of roaming services like credit transfer, web dial and web SMS from everywhere.
Multi IMSI SIM cards allow cell phone users to have multiple mobile numbers from different operators on a single SIM card.
"The technology will be a boon for devotees who frequently visit Pakistan on pilgrimage, businessmen travelling between different countries , international sportspersons , politicians students, leisure travellers and others, " said the visiting president of Switzerland based Geo Communications AG , Naveen Singh Suhag, while talking to TOI on Wednesday .
The company is contemplating a launch of their Geo Mobile multi IMSI SIM cards from Amritsar soon.
He said at the moment the client had the option to have 7 mobile numbers from different countries but could add up to 99 countries' mobile numbers in that SIM .
Talking about the success of the technology, he said their research and development team had finalized the worldwide testing of their product by hiring a team of senior airline pilots to assist them in real time testing.
"And that's how we are able to introduce a Swiss quality product and we are proud to be the first one in the world to have this technology" said Naveen.
On internet connectivity while traveling in different countries, Geo Communications AG president said that they had the lowest data roaming charges worldwide.
Giving an example, he said an Indian customer travelling to Europe or South/North America would have to pay only Rs 25 per MB Data and if the client had a BlackBerry they could have all their work done in roaming by paying just around Rs 3000 for a week abroad.
He said an Indian businessman travelling from India to other countries would have no roaming charges and would be treated as 'local' hence there would be no incoming coast, the outgoing cost to whole north America/ Europe would be as low as between Rs 12 to Rs 18 a minute.
Chief Technology Officer of the company, Mario Weber, said that the client would have the facility to configure , balance and charging details fully integrated into their account which would get updated automatically allowing the users to recharge, configure and make use of roaming services like credit transfer, web dial and web SMS from everywhere.
Petronet to start work on third LNG terminal, signs pact with GPL
Hyderabad: Petronet LNG, India’s biggest liquefied natural gas (LNG) importer, on Wednesday signed an agreement to invest Rs 4,500 crore in building a five-million-tonne import terminal at Gangavaram Port on the Andhra coast. This will be the country’s fifth LNG terminal after Dahej, Dahbol, Hazira and Kochi.
Gangavaram will be Petronet's third LNG import terminal. The company, at present, operates a 10-million tonne facility at Dahej in Gujarat and is building another five-million tonne terminal at Kochi in Kerala, to be ready by the year-end. A steep decline in domestic gas output, led by declining volumes from Reliance Industries-operated KG-D6 field, has made LNG imports an attractive business.
“Petronet LNG and Gangavaram Port Ltd (GPL) on Wednesday signed a firm and binding term sheet for developing a land-based LNG terminal at Gangavaram Port, Andhra Pradesh with a capacity of five-million tonne per annum,” the two firms said in a joint press statement.
The term sheet was signed by Petronet managing director and chief executive A K Balyan and Gangavaram Port Ltd (GPL) chairman and Managing director D V S Raju. The LNG terminal at Gangavaram Port will comprise facilities for receiving, storage and regasification of LNG and would be built in 42 months. “The terminal at Gangavaram Port would have the provision for further expansion, like the flagship Dahej LNG Terminal of Petronet,” it said. The company would import LNG from gas-rich nations like Australia to meet the growing energy demand in Andhra Pradesh and other eastern and central part of India.
“The construction work on the terminal is expected to start within a year and it should be ready to commence operations by 2016,” Balyan said.
“We are eager to have our presence on the east coast and are exploring various possible options to bring gas earlier than 2016 at Gangavaram Port.”
Gas imported at the terminal would provide feedstock to refineries, power and fertiliser plants.
The time of arrival of LNG at Gangavaram port is likely to be advanced as the company is looking at integrating various other facilities with the project, Balyan told Business Standard.
GPL would be holding seven-eight per cent equity in the project towards the land provided to set up the terminal, according to Petronet chief. On the likely source of LNG to be imported to this facility, he said there had been several sources on the company's radar and it has enough time to finalise the same.
Gangavaram will be Petronet's third LNG import terminal. The company, at present, operates a 10-million tonne facility at Dahej in Gujarat and is building another five-million tonne terminal at Kochi in Kerala, to be ready by the year-end. A steep decline in domestic gas output, led by declining volumes from Reliance Industries-operated KG-D6 field, has made LNG imports an attractive business.
“Petronet LNG and Gangavaram Port Ltd (GPL) on Wednesday signed a firm and binding term sheet for developing a land-based LNG terminal at Gangavaram Port, Andhra Pradesh with a capacity of five-million tonne per annum,” the two firms said in a joint press statement.
The term sheet was signed by Petronet managing director and chief executive A K Balyan and Gangavaram Port Ltd (GPL) chairman and Managing director D V S Raju. The LNG terminal at Gangavaram Port will comprise facilities for receiving, storage and regasification of LNG and would be built in 42 months. “The terminal at Gangavaram Port would have the provision for further expansion, like the flagship Dahej LNG Terminal of Petronet,” it said. The company would import LNG from gas-rich nations like Australia to meet the growing energy demand in Andhra Pradesh and other eastern and central part of India.
“The construction work on the terminal is expected to start within a year and it should be ready to commence operations by 2016,” Balyan said.
“We are eager to have our presence on the east coast and are exploring various possible options to bring gas earlier than 2016 at Gangavaram Port.”
Gas imported at the terminal would provide feedstock to refineries, power and fertiliser plants.
The time of arrival of LNG at Gangavaram port is likely to be advanced as the company is looking at integrating various other facilities with the project, Balyan told Business Standard.
GPL would be holding seven-eight per cent equity in the project towards the land provided to set up the terminal, according to Petronet chief. On the likely source of LNG to be imported to this facility, he said there had been several sources on the company's radar and it has enough time to finalise the same.
Sugar exports liberalised
New Delhi: Sugar exports may touch four million tonnes during the current season ending September, as the Government has decided to allow more shipments. This may help the industry liquidate surplus stocks.
A high-level inter-ministerial meeting chaired by the Prime Minister, Dr Manmohan Singh, decided to away with the release order mechanism for sugar exports.
The Government has also removed the minimum export price for onion and announced a committee under the PMEAC chairman, Dr C. Rangarajan, for framing a policy on foodgrain exports. Currently, the MEP for onion is $125 a tonne.
Doing away with the release order would ensure that sugar shipments for exports move faster. The Government had earlier done away with the release order mechanism in 2008.
So far, the Government has approved exports of three million tonnes in three tranches. Of this, 2 million tonnes have already been notified and shipped out. The notification for one million tonnes, approved on March 26, is expected shortly.
Sugar production in the current 2011-12 year-ending September is expected to touch 26 million tonnes, according to the industry estimates.
On Wednesday, the Indian Sugar Mills Association (ISMA) said that sugar production as of April-end stood at 25.1 million tonnes, about 2.5 million tonnes more compared with the same period a year ago.
The bulk of the increase has come from Uttar Pradesh, where production has gone up by 1.1 million tonnes. Production in Maharashtra is up by 5 lakh tonnes, Karnataka by 3 lakh tonnes, while Tamil Nadu has registered an increase of 4 lakh tonnes.
As cane crushing comes to an end in UP, the industry is betting on Tamil Nadu, Maharashtra and Karnataka to reach the targeted output of 26 million tonnes. Crushing in Tamil Nadu will go on till September and ISMA expects an additional output of around 6.5 lakh tonnes to come from the state. The remaining 3 million tonnes will come from Maharashtra and Karnataka.
A high-level inter-ministerial meeting chaired by the Prime Minister, Dr Manmohan Singh, decided to away with the release order mechanism for sugar exports.
The Government has also removed the minimum export price for onion and announced a committee under the PMEAC chairman, Dr C. Rangarajan, for framing a policy on foodgrain exports. Currently, the MEP for onion is $125 a tonne.
Doing away with the release order would ensure that sugar shipments for exports move faster. The Government had earlier done away with the release order mechanism in 2008.
So far, the Government has approved exports of three million tonnes in three tranches. Of this, 2 million tonnes have already been notified and shipped out. The notification for one million tonnes, approved on March 26, is expected shortly.
Sugar production in the current 2011-12 year-ending September is expected to touch 26 million tonnes, according to the industry estimates.
On Wednesday, the Indian Sugar Mills Association (ISMA) said that sugar production as of April-end stood at 25.1 million tonnes, about 2.5 million tonnes more compared with the same period a year ago.
The bulk of the increase has come from Uttar Pradesh, where production has gone up by 1.1 million tonnes. Production in Maharashtra is up by 5 lakh tonnes, Karnataka by 3 lakh tonnes, while Tamil Nadu has registered an increase of 4 lakh tonnes.
As cane crushing comes to an end in UP, the industry is betting on Tamil Nadu, Maharashtra and Karnataka to reach the targeted output of 26 million tonnes. Crushing in Tamil Nadu will go on till September and ISMA expects an additional output of around 6.5 lakh tonnes to come from the state. The remaining 3 million tonnes will come from Maharashtra and Karnataka.
Australia keen to boost trade relations with India
New Delhi: Australia believes that there is a “huge amount of opportunity” for trade relations between the two countries despite the Indian Government's flip-flop on the telecommunication sector.
“We are focussed on strengthening that relationship further and pursuing more trading opportunities. The fact that both countries have a strong programme focussed on innovation is a very important mutual agenda. And one creates the opportunity for further trade relationship and further investment,” the Australian Minister for Industry and Innovation, Ms Kate Lundy, told Business Line.
The Minister added that with interest in India being high there was a lot of optimism about the future.
Though the Minister said that Australian companies had “not expressed concern about the environment in India,” a senior official of the Australian High Commission added that it was true that the Supreme Court's decision on 2G and Vodafone had made companies uneasy about the policy environment in India.
He, however, pointed out that none of the Australian companies were concerned about these decisions, but companies from other countries which were affected by these decisions. The diplomat added that a lot companies were looking for a signal that things will proceed in a rational and planned way.
The Minister added that India will be the partner country for Cebit which is being held in Sydney this month.
This will involve a Ministerial delegation from India going to Australia and Indian companies participating in the Expo.
“Mr Som Mittal is going to be one of the keynote speakers in the Indian delegation. Just the opportunity to get Australian and Indian companies on one platform will hopefully lead to some further collaborations and partnerships,” Ms Lundy said.
The Minister added that at present there were many opportunities in Australia to further develop partnerships and collaborations with India.
This includes investment in Australia's national broad band network.
“I think it is generating a lot of interest from ICT companies around the world. Companies are also developing applications for a universal high band network including e-education, e-health and other Government services across that network,” the Minister added.
“We are focussed on strengthening that relationship further and pursuing more trading opportunities. The fact that both countries have a strong programme focussed on innovation is a very important mutual agenda. And one creates the opportunity for further trade relationship and further investment,” the Australian Minister for Industry and Innovation, Ms Kate Lundy, told Business Line.
The Minister added that with interest in India being high there was a lot of optimism about the future.
Though the Minister said that Australian companies had “not expressed concern about the environment in India,” a senior official of the Australian High Commission added that it was true that the Supreme Court's decision on 2G and Vodafone had made companies uneasy about the policy environment in India.
He, however, pointed out that none of the Australian companies were concerned about these decisions, but companies from other countries which were affected by these decisions. The diplomat added that a lot companies were looking for a signal that things will proceed in a rational and planned way.
The Minister added that India will be the partner country for Cebit which is being held in Sydney this month.
This will involve a Ministerial delegation from India going to Australia and Indian companies participating in the Expo.
“Mr Som Mittal is going to be one of the keynote speakers in the Indian delegation. Just the opportunity to get Australian and Indian companies on one platform will hopefully lead to some further collaborations and partnerships,” Ms Lundy said.
The Minister added that at present there were many opportunities in Australia to further develop partnerships and collaborations with India.
This includes investment in Australia's national broad band network.
“I think it is generating a lot of interest from ICT companies around the world. Companies are also developing applications for a universal high band network including e-education, e-health and other Government services across that network,” the Minister added.
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