New Delhi: The UK-based casual dining restaurant chain PizzaExpress has kicked off the process of starting its India operation, almost eight months after signing a 50-50 joint venture partnership with Bharti Family Office.
As a first step, a chief executive officer (CEO) has been hired for the India business, and the company is learnt to be looking at a year-end launch of the chain.
Ramit Mittal, son of Rakesh Mittal, vice-chairman and managing director of Bharti Enterprises and elder brother of Bharti Group Chairman Sunil Mittal, is spearheading the PizzaExpress project from the Bharti Family Office side. Bharti Family Office is an initiative of the promoters of the Bharti group through their personal investments. The Bharti group’s business interest ranges from telecom to media to retail.
Since Ramit Mittal, 33, is already based in Mumbai as co-founder and joint managing director of Bulldog Media and Entertainment, PizzaExpress is likely to have its India headquarters in the same city, people close to the development say. Among other programmes, Bulldog Media is known for the television serial it produced—Kya Aap Paanchvi Paas Se Tez Hain — Hindi adaptation of the international hit Are You Smarter Than A Fifth Grader.
The first few outlets of the PizzaExpress chain are expected to open in metros like Mumbai and Delhi.
An official representing the joint venture confirmed that Vivek Mathur, who ‘s coming from the Godrej group, has been appointed CEO for PizzaExpress India. Over the next two to three months, many more senior and middle-level appointments are slated to take place.
Mathur was executive director and president (marketing, sales and innovation) at Godrej Consumer Products Ltd. Prior to that, he was managing director at Godrej Hershey Ltd and chief operating officer (marketing, sales) at Godrej Sara Lee. He has also worked with Tata Global Beverages Ltd and Hindustan Unilever Ltd. When asked about the chain opening plans, a company spokesperson said: “The joint venture is making progress as per our plans. We continue to work on developing the brand, business and team in India. However, at this stage, we don’t have anything specific to share.”
Last October, Gourmet Investments, promoted by Bharti Family Office, and the UK-based PizzaExpress Holdings had announced the joint venture to launch the PizzaExpress chain of restaurants in India. This will be the second coming for PizzaExpress, as its first India venture with the V K Modi group had failed to take off some eight years ago. The 46-year-old PizzaExpress has over 450 restaurants across Britain, China, Europe, Hong Kong, Japan and West Asian countries.
Ramit is one of the next-gen Mittals to have already worked with the family business. While his present assignment is with Bharti Family Office, he was earlier engaged with Easy Day, Bharti’s retail venture. Rakesh Mittal’s younger son Rajit Mittal is currently not related to the Bharti business—he is co-founder and director of Tatva Renewable Energy that provides green solutions to several companies including Bharti units. Rajit Mittal, too, was initiated into the Bharti business earlier when he worked on many projects in mobile technology and retail across group companies.
Sunil Mittal’s twins—Kavin and Shravin—are both engaged in the group business. While Kavin Mittal is the head of strategy and product development at a joint venture between Bharti Enterprises and Japan’s telecom and internet major Softbank, Shravin Mittal is a manager with the group’s telecom business in Africa. Sunil Mittal’s daughter Eiesha is married and not engaged in Bharti group family business.
The youngest brother of Sunil Mittal, Rajan Mittal, who’s handling the retail business of the group as vice-chairman and managing director of Bharti Enterprises, has two sons—Zubin and Armaan—who are studying and still have some years before getting initiated into the family business.
Success in my Habit
Tuesday, July 3, 2012
Reliance Infrastructure commences operation of its sixth road project worth Rs 800 crore
New Delhi: Reliance Infrastructure Limited (RInfra), one of the largest road developers in the country, has commenced the operation of its sixth road project worth Rs 800 crore entailing four laning of Gurgaon - Faridabad and two laning of Ballabhgarh - Sohna road. The company had executed the 66-kilometre project through its Special Purpose Vehicle (SPV) and will be collecting toll for a period of 17 years.
The Gurgaon- Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.
"The corridor will witness approximately 36,000 vehicles per day that is expected to double in the next five years," said Lalit Jalan, CEO, Reliance Infrastructure.
He further added " Road sector is a key business for Reliance Infrastructure as it gives minimum targeted return on equity and enhances the valuation of our existing Road Portfolio. With current order book of eleven road projects, we will generate from next financial year a revenue of Rs.1200 crore per year with 15% y-o-y growth rate."
The average vehicle speed on this corridor now will go up from 12km/hr to 60km/hr, thereby reducing the traveling time by 40% - 50% and saving almost 40% on fuel cost. Commuters traveling the entire stretch of Gurgoan - Faridabad - Ballabhgarh - Sohna road can now cover this distance in less than two hours whereas earlier this same distance used to take almost five hours.
The Gurgaon- Faridabad corridor connects major tourist destinations, industrial zones, corporate offices and International airport (T3) of Delhi. This 66 kms long corridor includes Gurgaon-Faridabad, Ballabhgarh-Sohna, Pali Bakri, Surajkund Road.
"The corridor will witness approximately 36,000 vehicles per day that is expected to double in the next five years," said Lalit Jalan, CEO, Reliance Infrastructure.
He further added " Road sector is a key business for Reliance Infrastructure as it gives minimum targeted return on equity and enhances the valuation of our existing Road Portfolio. With current order book of eleven road projects, we will generate from next financial year a revenue of Rs.1200 crore per year with 15% y-o-y growth rate."
The average vehicle speed on this corridor now will go up from 12km/hr to 60km/hr, thereby reducing the traveling time by 40% - 50% and saving almost 40% on fuel cost. Commuters traveling the entire stretch of Gurgoan - Faridabad - Ballabhgarh - Sohna road can now cover this distance in less than two hours whereas earlier this same distance used to take almost five hours.
GSPL-led consortia ties up funds for Rs 13,700-cr pipeline projects
Coimbatore: Gujarat State Petronet Ltd and its project collaborators have sewed up funds valued at around Rs 9,500 crore for two pipeline projects.
With this, GSPL-led joint venture has secured financial closure for three cross-country pipeline projects involving a total investment of about Rs 13,700 crore in which the three PSU oil giants — IOC, BPCL and HPCL — are partners, GSPL has said in a communication to the stock exchanges.
The company said that the GSPL-led joint venture company GSPL India Transco Ltd signed an agreement on June 29 for a syndicate loan of Rs 5,080 crore with a consortium of 14 banks for its Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project.
Another joint venture company GSPL India Gasnet Ltd has entered into an agreement for a Rs 4,516-crore loan with a consortium of 12 banks for its Mehsana-Bhatinda-Jammu-Srinagar pipeline project.
Gujarat State Petronet said the joint venture companies have achieved financial closure for the three cross-country pipeline projects with a total outlay of Rs 13,704 crore.
While 70 per cent of the funds would come through debt syndication of Rs 9,596 crore, the balance 30 per cent will be from equity infusion of Rs 4,108 crore by the joint venture partners — Gujarat State Petronet Ltd (52 per cent), Indian Oil Corporation Ltd (26 per cent), Bharat petroleum Corporation Ltd (11 per cent) & Hindustan Petroleum Corporation Ltd (11 per cent).
With this, GSPL-led joint venture has secured financial closure for three cross-country pipeline projects involving a total investment of about Rs 13,700 crore in which the three PSU oil giants — IOC, BPCL and HPCL — are partners, GSPL has said in a communication to the stock exchanges.
The company said that the GSPL-led joint venture company GSPL India Transco Ltd signed an agreement on June 29 for a syndicate loan of Rs 5,080 crore with a consortium of 14 banks for its Mallavaram-Bhopal-Bhilwara-Vijaipur pipeline project.
Another joint venture company GSPL India Gasnet Ltd has entered into an agreement for a Rs 4,516-crore loan with a consortium of 12 banks for its Mehsana-Bhatinda-Jammu-Srinagar pipeline project.
Gujarat State Petronet said the joint venture companies have achieved financial closure for the three cross-country pipeline projects with a total outlay of Rs 13,704 crore.
While 70 per cent of the funds would come through debt syndication of Rs 9,596 crore, the balance 30 per cent will be from equity infusion of Rs 4,108 crore by the joint venture partners — Gujarat State Petronet Ltd (52 per cent), Indian Oil Corporation Ltd (26 per cent), Bharat petroleum Corporation Ltd (11 per cent) & Hindustan Petroleum Corporation Ltd (11 per cent).
Japan to set up auto component and engineering park in Gujarat
Gandhinagar: The Japanese are learnt to have zeroed in on a place near the proposed Maruti-Suzuki plant site - which is spread on about 700 hectares (ha) at Hansalpur, near Becharaji Temple - to set up a new auto component-cum-engineering park near Hansalpur, off Behechraji Temple, in North Gujarat.
Well-placed Sachivalaya sources said, a high-level delegation consisting of senior officials of the Japanese External Trade Organisation (JETRO) was here in Gandhinagar after visiting the site and told Gujarat government officials last week that the location would be "ideal" for Japanese units to come and invest in the nearby region for manufacturing auto components and other engineering products.
"JETRO officials have already had discussions twice earlier. This was the third round. At present, the Gujarat Industrial Development Corporation (GIDC) is in the process of working out details for setting up a new industrial estate near the Maruti site. The GIDC expects to acquire 1,100 hectares (ha) of land in the area", a senior official said.
"The GIDC has sent its proposal for administrative approval of the state government, after which measurement for area to be acquired will begin. In all probability, the new GIDC estate will be about 15 kilometres off the Maruti site", the official added.
The Japanese, officials point out, are interested in setting up shop in nearly half of the estate, or around 500 ha. Each unit will be between 3 and 6 ha, which will be made available by GIDC. "The deal may be clinched soon", the official pointed out.
"These will be essentially small Japanese units, of the type that exist near Chennai and National Capital Region (NCR)", the official said, adding, "The units will serve Maruti-Suzuki cars, to be manufactured off Bhechraji, and also the car manufacturing units to come up near Sanand, Tata Motors, which is manufacturing Nano cars, Peugeot and Ford, which will set up their auto facilities."
Besides, effort will be to go in for exporting the auto components in a big way. While infrastructural facilities were a major reason why Maruti-Suzuki chose Gujarat over other states, officials say, the Rs 4,000 crore plant on 280 ha was also set up because of "excellent port connectivity to Mundra". JETRO holds a similar view for auto component units.
Meanwhile, in an effort to boost industrialization in the region, Gujarat government has decided to widen the current road from Sanand to Bhechraji, which is about 90 km. "The current road is 7 metres wide. A decision has been taken to strengthen the road and widen it to 10 metres. Work order to widen the road has been given", a senior official said.
Well-placed Sachivalaya sources said, a high-level delegation consisting of senior officials of the Japanese External Trade Organisation (JETRO) was here in Gandhinagar after visiting the site and told Gujarat government officials last week that the location would be "ideal" for Japanese units to come and invest in the nearby region for manufacturing auto components and other engineering products.
"JETRO officials have already had discussions twice earlier. This was the third round. At present, the Gujarat Industrial Development Corporation (GIDC) is in the process of working out details for setting up a new industrial estate near the Maruti site. The GIDC expects to acquire 1,100 hectares (ha) of land in the area", a senior official said.
"The GIDC has sent its proposal for administrative approval of the state government, after which measurement for area to be acquired will begin. In all probability, the new GIDC estate will be about 15 kilometres off the Maruti site", the official added.
The Japanese, officials point out, are interested in setting up shop in nearly half of the estate, or around 500 ha. Each unit will be between 3 and 6 ha, which will be made available by GIDC. "The deal may be clinched soon", the official pointed out.
"These will be essentially small Japanese units, of the type that exist near Chennai and National Capital Region (NCR)", the official said, adding, "The units will serve Maruti-Suzuki cars, to be manufactured off Bhechraji, and also the car manufacturing units to come up near Sanand, Tata Motors, which is manufacturing Nano cars, Peugeot and Ford, which will set up their auto facilities."
Besides, effort will be to go in for exporting the auto components in a big way. While infrastructural facilities were a major reason why Maruti-Suzuki chose Gujarat over other states, officials say, the Rs 4,000 crore plant on 280 ha was also set up because of "excellent port connectivity to Mundra". JETRO holds a similar view for auto component units.
Meanwhile, in an effort to boost industrialization in the region, Gujarat government has decided to widen the current road from Sanand to Bhechraji, which is about 90 km. "The current road is 7 metres wide. A decision has been taken to strengthen the road and widen it to 10 metres. Work order to widen the road has been given", a senior official said.
Gilt trading platform for retail users goes live
Mumbai: Retail participants can now manage their government bond holdings directly, with the help of a web-based trading platform supported and run by the Clearing Corporation of India Limited (CCIL). Bond holders have been allowed to initiate trade in the secondary market. However, there would be limits stipulated by primary members, according to regulatory norms.
To promote retail participation in sovereign debt, the Reserve Bank of India (RBI) had allowed direct access to bond holders in the Annual Monetary and Credit Policy for 2012-13. Yesterday, RBI said the web-based platform had been implemented and could be accessed at www.ndsind.com. Currently, banks and financial institutions are the major investors in government debt.
To gain access to the Negotiated Dealing System-Gilts Order Matching System (NDS-OM), or the secondary market for government bonds, retail participants have to submit a request with the primary member, who would ensure know-your-customer norms are fulfiled. The primary member would then approach CCIL with e-tokens, digital certificates and passwords for its users.
Currently, NDS-OM has 161 active primary members, including banks, primary dealers, insurance companies, mutual fund companies and provident funds.
A gilt account holder can log in, watch online security movements and place orders instantly, within the price or yield range stipulated by its primary member. RBI has said since the primary member would be responsible for trade initiated by its clients, it can monitor and hold, or cancel, the order if need arises. A pop-up notification and deal ticket for the client would help keep track of successful deals.
Yesterday, IDBI Bank’s primary dealer wing said it had enabled one of its clients to access the secondary market using the new platform, and others were expected to follow.
To promote retail participation in sovereign debt, the Reserve Bank of India (RBI) had allowed direct access to bond holders in the Annual Monetary and Credit Policy for 2012-13. Yesterday, RBI said the web-based platform had been implemented and could be accessed at www.ndsind.com. Currently, banks and financial institutions are the major investors in government debt.
To gain access to the Negotiated Dealing System-Gilts Order Matching System (NDS-OM), or the secondary market for government bonds, retail participants have to submit a request with the primary member, who would ensure know-your-customer norms are fulfiled. The primary member would then approach CCIL with e-tokens, digital certificates and passwords for its users.
Currently, NDS-OM has 161 active primary members, including banks, primary dealers, insurance companies, mutual fund companies and provident funds.
A gilt account holder can log in, watch online security movements and place orders instantly, within the price or yield range stipulated by its primary member. RBI has said since the primary member would be responsible for trade initiated by its clients, it can monitor and hold, or cancel, the order if need arises. A pop-up notification and deal ticket for the client would help keep track of successful deals.
Yesterday, IDBI Bank’s primary dealer wing said it had enabled one of its clients to access the secondary market using the new platform, and others were expected to follow.
Blaupunkt takes the JV route to tune into India
Mumbai: German in-car entertainment brand, Blaupunkt has finally set up shop in India, through a joint venture (55:45) with its current India partner AutoSonics India. Though the brand has been present in India for almost 15 years now, it was through multi-channeled distribution networks.
The JV is being fashioned as a re-entry of the brand in the Indian market. Lars Placke, CEO, Blaupunkt, says the JV does not change much on one level. And yet, he says, “On a second level, it has brought us closer to the customer. He will now be dealing directly with Blaupunkt, meaning a higher commitment on the brand’s part to customer as well as a wider product portfolio.”
The timing couldn’t be more perfect. It comes at a point when the Indian auto and auto components industry is growing at a steady rate of 15 - 18 per cent. The move could also help the company up its share, especially in the retail segment (or after-market sales as it is popularly known). As per estimates, in a Rs 600 crore retail market, the company holds just a 5 -6 per cent share. The rest is held by competition led by JBL, Sony, Pioneer and so on.
Experts feel that the JV will help the company scale up its distribution and reach, critical for after-market sales as well as connect better with original equipment manufacturers (OEM). “In this (in-car entertainment) market, the success is largely dependent on how a player connects with the OEM,” says Abdul Majeed, leader (automotive practice) at PwC. Especially since, increasingly, the trend veers towards cars being fitted with stereo options at the assembly level by auto players, even for basic models.
Blaupunkt seems to have identified both these factors and is preparing for its first step in the direction - invest in a larger after-market sales team and up its distribution network. As per Pankaj Jagwani, director, Blaupunkt India, the newly formed JV will now concentrate on four different channels - tieups with OEM, retail sales, car showrooms and organised retail.
On the OEM front, Blaupunkt already has tie-ups with Tata Motors, Mahindra & Mahindra and Hyundai.
As for the car showroom sales, a player must be approved by the automaker to be present through this channel. While Blaupunkt has approvals from Tata Motors and Hyundai, the channel itself is not favoured much by analysts. Reason: a strong unorganised service market in India. One auto analyst hazards a guess, “Of 10 cars, possibly just three - four come back to the dealers for any kind of servicing. Most would prefer their neighbourhood garages or service providers for cheaper (cost wise) servicing.”
For the retail sales, the company is looking at upping its distributor reach from 25 to 40. Each distributor in turn will cater to around 100 retailers, translating into a coverage of around 4,000 retailers pan-India.
The key advantage of the JV would be the scope for customising the solutions for OEM as well as on the retail front. “As distributors, our role was restricted to taking products from Blaupunkt and selling them in-turn. But as partners, we’d be able to help customise the solutions for each OE player,” says Jagwani. Important, since no OEM accepts in-car entertainment solutions as built for the retail market. They are modified to suit the car requirements from design and aesthetic perspectives. To this end, the company may at some point consider localising assembly operations as well, till then the Malaysian factory will continue to be the source of supply.
Lastly but most importantly, the success of Blaupunkt will be determined by the pricing given that, in India, small cars constitute around 70 - 75 per cent of overall passenger car sales, quite unlike the global markets. A Rs 40,000 high-end model could work wonders for the premium segment. But, the success will be driven by the ability to cater to a fairly lower price point.
The JV is being fashioned as a re-entry of the brand in the Indian market. Lars Placke, CEO, Blaupunkt, says the JV does not change much on one level. And yet, he says, “On a second level, it has brought us closer to the customer. He will now be dealing directly with Blaupunkt, meaning a higher commitment on the brand’s part to customer as well as a wider product portfolio.”
The timing couldn’t be more perfect. It comes at a point when the Indian auto and auto components industry is growing at a steady rate of 15 - 18 per cent. The move could also help the company up its share, especially in the retail segment (or after-market sales as it is popularly known). As per estimates, in a Rs 600 crore retail market, the company holds just a 5 -6 per cent share. The rest is held by competition led by JBL, Sony, Pioneer and so on.
Experts feel that the JV will help the company scale up its distribution and reach, critical for after-market sales as well as connect better with original equipment manufacturers (OEM). “In this (in-car entertainment) market, the success is largely dependent on how a player connects with the OEM,” says Abdul Majeed, leader (automotive practice) at PwC. Especially since, increasingly, the trend veers towards cars being fitted with stereo options at the assembly level by auto players, even for basic models.
Blaupunkt seems to have identified both these factors and is preparing for its first step in the direction - invest in a larger after-market sales team and up its distribution network. As per Pankaj Jagwani, director, Blaupunkt India, the newly formed JV will now concentrate on four different channels - tieups with OEM, retail sales, car showrooms and organised retail.
On the OEM front, Blaupunkt already has tie-ups with Tata Motors, Mahindra & Mahindra and Hyundai.
As for the car showroom sales, a player must be approved by the automaker to be present through this channel. While Blaupunkt has approvals from Tata Motors and Hyundai, the channel itself is not favoured much by analysts. Reason: a strong unorganised service market in India. One auto analyst hazards a guess, “Of 10 cars, possibly just three - four come back to the dealers for any kind of servicing. Most would prefer their neighbourhood garages or service providers for cheaper (cost wise) servicing.”
For the retail sales, the company is looking at upping its distributor reach from 25 to 40. Each distributor in turn will cater to around 100 retailers, translating into a coverage of around 4,000 retailers pan-India.
The key advantage of the JV would be the scope for customising the solutions for OEM as well as on the retail front. “As distributors, our role was restricted to taking products from Blaupunkt and selling them in-turn. But as partners, we’d be able to help customise the solutions for each OE player,” says Jagwani. Important, since no OEM accepts in-car entertainment solutions as built for the retail market. They are modified to suit the car requirements from design and aesthetic perspectives. To this end, the company may at some point consider localising assembly operations as well, till then the Malaysian factory will continue to be the source of supply.
Lastly but most importantly, the success of Blaupunkt will be determined by the pricing given that, in India, small cars constitute around 70 - 75 per cent of overall passenger car sales, quite unlike the global markets. A Rs 40,000 high-end model could work wonders for the premium segment. But, the success will be driven by the ability to cater to a fairly lower price point.
Unilever rolls out qualitative research programme in India
Mumbai: Unilever has rolled out a Qualitative Research programme in India which helps improve the company's understanding of its consumers.
There are now around 15 fully accredited researchers working for Hindustan Unilever Limited in India. They all had to undergo a rigorous assessment process to check their skills profile.
Keith Weed, Chief Marketing Officer, Unilever said, "It's absolutely fundamental to the success of our sustainable growth agenda that we have a deep understanding of consumers wherever they buy our products. Whether it's in our developing, emerging or mature markets, consumer behaviour is changing so rapidly that if you dare to blink, you'll miss the latest trend. To stay ahead of the curve we need the very best researchers who have the skills and experience to generate the real-time consumer insights we need to create great marketing campaigns for our portfolio of household brands. This accreditation scheme is a really exciting opportunity to help Unilever on its way to becoming the best marketing organisation around the world."
The assessments were carried out by senior expert qualitative practitioners, who gave an independent view on the skills and capabilities of the researchers to the Unilever Accreditation Board.
Dr Meena Kaushik, Chairman Quantum Consumer Solutions (one of India's largest qual research agency) said, "The accreditation program is critical to raise the qualitative research standard across the world. Ideally it should have been a process that the Market Research Society in each country should have undertaken to ensure that qualitative researchers have the requisite caliber and training. I feel it is a good start and will raise the overall standard of the industry and motivate agencies to focus on training in a concerted and systematic way".
There are now around 15 fully accredited researchers working for Hindustan Unilever Limited in India. They all had to undergo a rigorous assessment process to check their skills profile.
Keith Weed, Chief Marketing Officer, Unilever said, "It's absolutely fundamental to the success of our sustainable growth agenda that we have a deep understanding of consumers wherever they buy our products. Whether it's in our developing, emerging or mature markets, consumer behaviour is changing so rapidly that if you dare to blink, you'll miss the latest trend. To stay ahead of the curve we need the very best researchers who have the skills and experience to generate the real-time consumer insights we need to create great marketing campaigns for our portfolio of household brands. This accreditation scheme is a really exciting opportunity to help Unilever on its way to becoming the best marketing organisation around the world."
The assessments were carried out by senior expert qualitative practitioners, who gave an independent view on the skills and capabilities of the researchers to the Unilever Accreditation Board.
Dr Meena Kaushik, Chairman Quantum Consumer Solutions (one of India's largest qual research agency) said, "The accreditation program is critical to raise the qualitative research standard across the world. Ideally it should have been a process that the Market Research Society in each country should have undertaken to ensure that qualitative researchers have the requisite caliber and training. I feel it is a good start and will raise the overall standard of the industry and motivate agencies to focus on training in a concerted and systematic way".
Gati forms jt venture with Japanse co Kintetsu
Coimbatore: Distribution and supply chain solution company Gati Ltd has tied up with Kintetsu World Express (KWE) of Japan to form Gati-Kintetsu Express Pvt Ltd (Gati-KWE).
While Gati would hold 70 per cent stake in the joint venture, the Japanese partner would hold the rest.
Kintetsu World Express has invested Rs 267.7 crore for its 30 per cent stake, which has been approved by the Foreign Investment Promotion Board (FIPB).
Gati said the fund infusion would improve its balance sheet and help reduce the interest outgo.
It hopes that the joint venture would enable “seamless transfer’’ for cross border trade through single window solution to its clients such as Texas Instruments, HP, Panasonic and Toshiba.
While Gati would hold 70 per cent stake in the joint venture, the Japanese partner would hold the rest.
Kintetsu World Express has invested Rs 267.7 crore for its 30 per cent stake, which has been approved by the Foreign Investment Promotion Board (FIPB).
Gati said the fund infusion would improve its balance sheet and help reduce the interest outgo.
It hopes that the joint venture would enable “seamless transfer’’ for cross border trade through single window solution to its clients such as Texas Instruments, HP, Panasonic and Toshiba.
Exports do spice industry proud
Kochi: Spices exports from India rose nine per cent in volume in 2011-12, at 575,720 tonnes, against 525,750 tonnes in the previous financial year. Total export earnings were up 43 per cent at Rs 9,783 crore compared to Rs 6,841 crore earlier; in dollar terms, up six per cent, according to the Spices Board.
The target set by the Board for the year was 500,000 tonnes and the achievement 113 per cent in terms of volume, 143 per cent in terms of rupee value and 137 per cent in terms of dollars.
Cardamom, the ‘queen of spices’, is inching to regain its lost position in international trade, fetching more value and volume; contributing to the upswing in spices’ exports crossing the $2-billion mark said, A Jayathilak, chairman, of the Board. Its export saw a phenomenal growth of 296 per cent in volume and 175 per cent in value.
The unprecedented rise in export of cardamom and sharp rise in the value of chilli exports have contributed to the all-time high achievement. Cardamom exports totalled 4,650 tonnes, valued at Rs 363 crore. The UAE, the UK, Pakistan and Kuwait remained the major importers. Chilli export rose 40 per cent in value compared to the previous year, though the increase in quantity was negligible.
America is the main importer of Indian spices, contributing to 16 per cent of the total export value. It is followed by China (nine per cent), UAE and Malaysia (six per cent each), Saudi Arabia, Germany, Sri Lanka, Singapore and the UK (four per cent each). Mint and mint products, spice oils and oleoresins, pepper, turmeric and cumin were the other key contributors in achieving the target, said Jayathilak.
Export of all the major spices such as pepper, ginger, turmeric, cumin, fennel, fenugreek, mustard, aniseed, ajwain seed, nutmeg, mace, asafoetida and tamarind rose in terms of volume and value. Export of mint products, spice oils and oleoresins increased in terms of value.
Export of coriander, celery and garlic for the year showed a decrease in both quantity and value.
As in earlier years, mint and mint products remained the single largest earner in the spices basket. During 2011-12 14,750 tonnes of mint and mint products were exported for Rs 2,224 crore as against the 17,450 tonnes valued Rs 1,697 crore in 2010-11. The lift in the value of exported mint and mint products is 31 per cent, whereas spice oils and oleoresins accomplished an increase of 43 per cent in value. India exported 7,265 tonnes of spice oils and oleoresins, for Rs 1,304 crore.
Pepper export for the year rose 42 per cent in quantity (26,700 tonnes in 2011-12 against 18,850 tonnes in 2010-11) and 129 per cent in value (Rs 878 crore against Rs 383 crore. The US, Vietnam, the UK, Germany, and Italy were top importers.
Export of turmeric also marked an all-time record, as the quantity exported reached 79,500 tonnes, fetching Rs 734 crore in 2011-12.
In the case of ginger, export was 21,550 tonnes valued at Rs 204 crore, as against 15,750 tonnes valued at Rs 121 crore in the previous year. Export of cumin increased 40 per cent in quantity and 63 per cent in value. It was 32,500 tonnes in 2010-11, valued Rs 396 crore; in 2011-12, it qent up to 45,500 tonnes, valued Rs 644 crore.
The export of fennel crossed 8,100 tonnes and fenugreek export reached 21,800 tonnes. The export of nutmeg and mace together was 3,620 tonnes, valued at Rs 241 crorel in 2010-11, it was 2,100 tonnes, valued Rs 98 crore.
The increase was 72 per cent in quantity and 146 per cent in value. In the case of chilli, the exported quantity was 241,000 tonnes at a value of Rs 2,144 crore, against 240,000 tonnes valued at Rs 1,536 crore.
On curry powders/paste, export growth in 2011-12 was 11 per cent in quantity and 20 per cent in value. About 17,000 tonnes of curry powder/ paste valued at Rs 252 crore was exported, against the 15,250 tonnes valued Rs 210 crore earlier.
The target set by the Board for the year was 500,000 tonnes and the achievement 113 per cent in terms of volume, 143 per cent in terms of rupee value and 137 per cent in terms of dollars.
Cardamom, the ‘queen of spices’, is inching to regain its lost position in international trade, fetching more value and volume; contributing to the upswing in spices’ exports crossing the $2-billion mark said, A Jayathilak, chairman, of the Board. Its export saw a phenomenal growth of 296 per cent in volume and 175 per cent in value.
The unprecedented rise in export of cardamom and sharp rise in the value of chilli exports have contributed to the all-time high achievement. Cardamom exports totalled 4,650 tonnes, valued at Rs 363 crore. The UAE, the UK, Pakistan and Kuwait remained the major importers. Chilli export rose 40 per cent in value compared to the previous year, though the increase in quantity was negligible.
America is the main importer of Indian spices, contributing to 16 per cent of the total export value. It is followed by China (nine per cent), UAE and Malaysia (six per cent each), Saudi Arabia, Germany, Sri Lanka, Singapore and the UK (four per cent each). Mint and mint products, spice oils and oleoresins, pepper, turmeric and cumin were the other key contributors in achieving the target, said Jayathilak.
Export of all the major spices such as pepper, ginger, turmeric, cumin, fennel, fenugreek, mustard, aniseed, ajwain seed, nutmeg, mace, asafoetida and tamarind rose in terms of volume and value. Export of mint products, spice oils and oleoresins increased in terms of value.
Export of coriander, celery and garlic for the year showed a decrease in both quantity and value.
As in earlier years, mint and mint products remained the single largest earner in the spices basket. During 2011-12 14,750 tonnes of mint and mint products were exported for Rs 2,224 crore as against the 17,450 tonnes valued Rs 1,697 crore in 2010-11. The lift in the value of exported mint and mint products is 31 per cent, whereas spice oils and oleoresins accomplished an increase of 43 per cent in value. India exported 7,265 tonnes of spice oils and oleoresins, for Rs 1,304 crore.
Pepper export for the year rose 42 per cent in quantity (26,700 tonnes in 2011-12 against 18,850 tonnes in 2010-11) and 129 per cent in value (Rs 878 crore against Rs 383 crore. The US, Vietnam, the UK, Germany, and Italy were top importers.
Export of turmeric also marked an all-time record, as the quantity exported reached 79,500 tonnes, fetching Rs 734 crore in 2011-12.
In the case of ginger, export was 21,550 tonnes valued at Rs 204 crore, as against 15,750 tonnes valued at Rs 121 crore in the previous year. Export of cumin increased 40 per cent in quantity and 63 per cent in value. It was 32,500 tonnes in 2010-11, valued Rs 396 crore; in 2011-12, it qent up to 45,500 tonnes, valued Rs 644 crore.
The export of fennel crossed 8,100 tonnes and fenugreek export reached 21,800 tonnes. The export of nutmeg and mace together was 3,620 tonnes, valued at Rs 241 crorel in 2010-11, it was 2,100 tonnes, valued Rs 98 crore.
The increase was 72 per cent in quantity and 146 per cent in value. In the case of chilli, the exported quantity was 241,000 tonnes at a value of Rs 2,144 crore, against 240,000 tonnes valued at Rs 1,536 crore.
On curry powders/paste, export growth in 2011-12 was 11 per cent in quantity and 20 per cent in value. About 17,000 tonnes of curry powder/ paste valued at Rs 252 crore was exported, against the 15,250 tonnes valued Rs 210 crore earlier.
Energy firms $582.29 million investment in Nelp-IX
New Delhi: Energy firms have committed investments worth $582.29 million in oil and gas exploration from 13 blocks, awarded in the recent bidding round, the oil ministry said.
"Investment level will increase with further development of discoveries," the ministry said in a statement.
The government had signed production sharing contracts (PSCs) for 13 exploration blocks on Mar 28. These blocks were awarded under the ninth round of New Exploration Licensing Policy (Nelp-IX).
The government offered 34 blocks in Nelp-IX but managed to get takers for only 13 on the day of signing contracts.
With the signing of PSCs for 13 blocks, total number PSCs rose to 248 PSCs. But country has only 106 discoveries.
The government plans to launch 10th round of exploration blocks (Nelp-X) only after making the bidding process more transparent and automatic, an oil ministry official said.
The government launched Nelp-IX bidding round on Oct 15, 2010 with 34 blocks covering an area of about 88,807 sq. km. The offered included eight deepwater blocks, seven shallow water blocks and 19 onland blocks (including eight type-S blocks). Bids were opened by DGH on Mar 28, 2011. A total of 74 bids were received for 33 blocks. No bid was received for one exploration block in shallow water. The 74 bids received for 33 blocks were evaluated by DGH.
"Investment level will increase with further development of discoveries," the ministry said in a statement.
The government had signed production sharing contracts (PSCs) for 13 exploration blocks on Mar 28. These blocks were awarded under the ninth round of New Exploration Licensing Policy (Nelp-IX).
The government offered 34 blocks in Nelp-IX but managed to get takers for only 13 on the day of signing contracts.
With the signing of PSCs for 13 blocks, total number PSCs rose to 248 PSCs. But country has only 106 discoveries.
The government plans to launch 10th round of exploration blocks (Nelp-X) only after making the bidding process more transparent and automatic, an oil ministry official said.
The government launched Nelp-IX bidding round on Oct 15, 2010 with 34 blocks covering an area of about 88,807 sq. km. The offered included eight deepwater blocks, seven shallow water blocks and 19 onland blocks (including eight type-S blocks). Bids were opened by DGH on Mar 28, 2011. A total of 74 bids were received for 33 blocks. No bid was received for one exploration block in shallow water. The 74 bids received for 33 blocks were evaluated by DGH.
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