Kolkata: India and Taiwan are looking at possibilities of expanding tea trade between the two countries. A business delegation from India visited Taiwan from June 28-July 1. The delegation held meetings with important stakeholders of the Taiwan tea industry and discussed ways and means to increase cooperation between the Indian and Taiwanese tea companies.
Mr Pradeep Kumar Rawat, director general, India-Taipei Association (ITA), briefed the delegation on the opportunities to tap the market potential in Taiwan. He stressed on the need to publicise and popularise Indian tea in the Taiwanese market as currently there is very little awareness about Indian tea and culture among the Taiwanese people.
The health benefits of black tea should be publicised among the Taiwanese, he said. The ready-to-drink (RTD) segment offers huge scope for expansion as the masala tea is very popular in Taiwan. He emphasised on the need to break into the RTD market and do value addition of the products. The CTC variety is apt for the RTD market in Taiwan, he added.
The delegation also had a meeting with the officials of Taiwanese Council of Agriculture. In the meeting, possibilities of cooperation with Indian tea companies were discussed. A seminar and buyer-seller-meet was also organized at the Howard Plaza Hotel, where the Chairman, Tea Board of India, briefed the stakeholders of the Taiwan tea industry about the role of the Board.
The seminar was followed by a buyer-seller meet, to facilitate forging of tea partnerships and greater cooperation between the two countries.
In order to gather first-hand knowledge about the Taiwanese tea industry and consumption trends in the country, the delegation visited the Taiwan Tea Corporation, Uni-President Enterprise, Ten Ren Tea Company Limited, and the Taiwan Tea Manufacturer's Association. At the Taiwan Tea Plantation and Promotion Centre at Muzha, the delegation was briefed on the best practices being followed by the country to ensure the quality of tea.
Talking about the positive outcome of the tea trade delegation, Mr Anshuman Kanoria, chairman, Indian Merchant Tea Exporters Forum, and Managing Partner, Balaji Agro International, said that the delegation managed to create lot of interest and awareness about India tea among the Taiwanese people. Based on the deliberations, the Taiwan trade and industry bodies would now try to develop their market for India tea, he added.
Mr Arun Narain Singh, vice-chairman, Indian Tea Association (ITA), and managing director, Goodricke Group, who was also part of the delegation, said Taiwan is a new territory for Indian tea, where there is absolutely no awareness about the tea produced in this part of the world. As such, the delegation has succeeded in introducing the Taiwanese people to India tea through the tea sampling and tea tasting events organised as part of the programme.
Success in my Habit
Friday, July 6, 2012
Nod to Rs 92,160-crore petroleum facilities region in Tamil Nadu
The Union Cabinet has approved India’s fifth petroleum, chemicals and petrochemical investment region (PCPIR) in Tamil Nadu. The Rs 92,160-crore PCPIR, in Cuddalore and Nagapattinam districts, would be earmarked for petroleum, chemicals and petrochemical production facilities. “The PCPIR envisages developing infrastructure, including roads, rail, air links, ports, water supply, power and desalination plants at a total cost of Rs 13,354 crore,” according to an official statement. It would cover an area of 256 sq km, with a processing facility.
According to the government’s PCPIR policy, infrastructure is developed through public private partnerships to the extent possible, with the Centre providing the required viability gap funding (VGF). The Tamil Nadu government has sought Rs 1,143 crore from the Centre as VGF and Rs 1,500 crore as budgetary support for the project. The government has identified Nagarjuna Oil Corporation and state-owned Chennai Petroleum Corporation as the lead anchor tenants in the proposed PCPIR.
Nagarjuna Oil Corporation, a joint venture between Tamil Nadu Industrial Development Corporation and Nagarjuna Fertilisers and Chemicals, is setting up a 6 million tonne per annum (mtpa) refinery at Cuddalore, with an investment of Rs 9,660 crore. It has already started work for the refinery, the deadline for which is September 2013.
Chennai Petroleum Corporation plans to set up a 15 mtpa refinery and a petrochemical complex in the region, with an outlay of Rs 40,000 crore.
According to the government’s PCPIR policy, infrastructure is developed through public private partnerships to the extent possible, with the Centre providing the required viability gap funding (VGF). The Tamil Nadu government has sought Rs 1,143 crore from the Centre as VGF and Rs 1,500 crore as budgetary support for the project. The government has identified Nagarjuna Oil Corporation and state-owned Chennai Petroleum Corporation as the lead anchor tenants in the proposed PCPIR.
Nagarjuna Oil Corporation, a joint venture between Tamil Nadu Industrial Development Corporation and Nagarjuna Fertilisers and Chemicals, is setting up a 6 million tonne per annum (mtpa) refinery at Cuddalore, with an investment of Rs 9,660 crore. It has already started work for the refinery, the deadline for which is September 2013.
Chennai Petroleum Corporation plans to set up a 15 mtpa refinery and a petrochemical complex in the region, with an outlay of Rs 40,000 crore.
Financial support for developing electronics sector approved
The Union cabinet has approved a proposal to offer financial assistance for the development of Electronics manufacturing Clusters (EMCs), to aid the growth of the Electronics Systems Design and Manufacturing (ESDM) sector in India.
Setting up clusters brings about cost advantage of upto 8 per cent to an ESDM unit through supplier consolidation and lower logistics cost. The proposed EMS scheme would support establishment of both green-field and brown-field EMCs. “Under the scheme, financial support would be provided to a Special Purpose vehicle (SPV) registered for this purpose. The assistance would be restricted to 50 per cent of the project cost for green-field EMCs and 75 per cent of the project cost for brown-field EMCs,” an official statement read.
The scheme would be open for applications for five years. The government clarified that today’s announcement is merely a policy decision and should not be seen as a financial commitment as the financial assistance under the policy would be subject to approval of a competent authority.
The scheme is expected to help flow of investment for development of in the ESDM sector. India’s draft National Policy on Electronics (NPE) proposes to achieve domestic production of around $ 400 billion by 2020 in the ESDM sector by creating an industry friendly policy framework.
Setting up clusters brings about cost advantage of upto 8 per cent to an ESDM unit through supplier consolidation and lower logistics cost. The proposed EMS scheme would support establishment of both green-field and brown-field EMCs. “Under the scheme, financial support would be provided to a Special Purpose vehicle (SPV) registered for this purpose. The assistance would be restricted to 50 per cent of the project cost for green-field EMCs and 75 per cent of the project cost for brown-field EMCs,” an official statement read.
The scheme would be open for applications for five years. The government clarified that today’s announcement is merely a policy decision and should not be seen as a financial commitment as the financial assistance under the policy would be subject to approval of a competent authority.
The scheme is expected to help flow of investment for development of in the ESDM sector. India’s draft National Policy on Electronics (NPE) proposes to achieve domestic production of around $ 400 billion by 2020 in the ESDM sector by creating an industry friendly policy framework.
India, Poland to ink pact for audio-visual co-production
New Delhi: India will sign an audio-visual co-production agreement with Poland. The pact will be signed by the Minister for Information & Broadcasting, Ms Ambika Soni, and the Poland Minister for Culture and National Heritage, Mr B. Zdrojewski. Ms Soni, who is in Poland on a three-day visit, is also expected to give a talk on the preservation of film heritage at the National Film Archives of Poland, according to an Information and Broadcasting Ministry release. Also on the agenda, is a meeting with officials of the Polish National Television, TVP. The I&B Ministry’s initiative to establish a Films Commission to promote single-window clearance for necessary permissions to foreign production companies and film-makers would also be shared with the Polish Government.
Thursday, July 5, 2012
Bharti Walmart to invest Rs 104 cr for expansion
The US retail chain Walmart and New Delhi-based Bharti Enterprises joint-venture company have raised these funds last year, they said in a filing to the Registrar of Companies.
Having doubled its store count to ten outlets in 2011, the cash-and-carry major has added two stores in the last six months. In all, Bharti Walmart has about 17 stores in the country. Simultaneously, the company has been investing in logistics and improving its back-end supply chain system.
The company also mentioned that it has incurred a loss of Rs 765 crore in calendar year 2011, even as sales doubled during the period to Rs 1,876-crore.
However, the company seems to be optimistic and upbeat about the business outlook in the future given the fact that the wholesale business – or trade between two businesses - has considerable scope for growth going ahead. The fresh equity infusion could also be a signal that the retail segment is set to witness reforms in foreign direct investment norms, observe industry-watchers.
“Indian retailers are making steady strides in rationalising their retail network and learning the nuances of organised retail,” says Mr Mohit Bahl, Partner, KPMG India.
“In cash-and-carry segment, where FDI is already permitted, international players making investments in establishing their network though these are still very muted. However, with expectation of FDI in retail opening up – should that happen, the flood gates should open,’’ he added.
Bharti Walmart has also raised about Rs 500 crore in short-term loans from banks including Citibank, BNP Paribas, HSBC. The fresh capital infusion by Bharti Walmart also indicates the company’s massive expansion drive that is in line with the huge competition in the cash and carry segment. The world’s second largest retailer Carrefour has also opened its first cash-and-carry store in India in December last, while Germany’s Metro AG entered its tenth year of operation in India with eleven stores this year.
E-voting will make life easier for investors
Mumbai: The Securities and Exchange Board of India issued its guidelines, making it mandatory for the country’s top 500 companies to offer the e-voting facility to its shareholders, after a large number of votes sent through the postal ballot route were found invalid.
For instance, when Sesa Goa and Sterlite Industries were seeking shareholder approval for the merger of the two entities in January, a large number of votes were found to be invalid on counting. The deal was recently passed at the company’s annual general meeting (AGM).
The e-voting process works in the following way. Depositories, such as CDSL and NSDL, will create a database of investors of companies opting for e-voting.
“They communicate user address and password to each investor via post or e-mail. Once an investor receives this login address and password, he can go to the depository website and register for the e-voting facility. He will be asked to change the password the first time and this would be the permanent password for future use. In future, if an investor wants to use the e-voting facility for another company, he just needs to login with his registered password and vote,” explained a CDSL official.
“There will be accurate counting of votes, elimination of postal ballots getting lost in-transit and sufficient time for shareholders to vote till the end of the voting cycle,” says Prithvi Haldea, chairman and managing director (CMD), Prime Database. Haldea worked closely in deliberating on and implementing the e-voting process.
“Now, even Non-Resident Indians (NRI) can take part in important decisions that have to be taken through the e-voting route,” says CJ George, managing director, Geojit BNP Paribas Financial Services.
This could be done away with when voting is done electronically, say market men. “You will have a login ID and password which will be required to cast your vote. The e-voting platforms will have prefilled forms where the shareholder will only have to cast their vote,” explained the CDSL official.
Invalid votes are a big issue in postal ballots. A vote is called invalid, for instance, if there are issues with the signature on the ballot, if the shareholder has not ticked the option in a proper way, the details of the shares held by the investor do not match the records with the company and so on.
Though e-voting is not a substitute for an AGM, it will be useful when companies have to pass special resolutions. By taking out the aspect of physical presence, Sebi is ensuring that the process is made easier for investors to participate.
In the past, in order to cast your vote or to have your say in important decisions of a company whose shares you hold, you needed to be physically present at the shareholders’ meeting or ask for a postal ballot whereby you would send in your votes.
At the most you can have a “proxy” vote or have someone stand in for you.
This was indeed a tedious process, which meant many investors would skip such meetings or not send in their votes. As a result, they would miss out on opportunities to take part in company matters, such as mergers and acquisitions, fund raising and so on.
A stock exchange official said that currently majority of the votes do not come in, that is, shareholders do not participate.
For instance, when Sesa Goa and Sterlite Industries were seeking shareholder approval for the merger of the two entities in January, a large number of votes were found to be invalid on counting. The deal was recently passed at the company’s annual general meeting (AGM).
The e-voting process works in the following way. Depositories, such as CDSL and NSDL, will create a database of investors of companies opting for e-voting.
“They communicate user address and password to each investor via post or e-mail. Once an investor receives this login address and password, he can go to the depository website and register for the e-voting facility. He will be asked to change the password the first time and this would be the permanent password for future use. In future, if an investor wants to use the e-voting facility for another company, he just needs to login with his registered password and vote,” explained a CDSL official.
“There will be accurate counting of votes, elimination of postal ballots getting lost in-transit and sufficient time for shareholders to vote till the end of the voting cycle,” says Prithvi Haldea, chairman and managing director (CMD), Prime Database. Haldea worked closely in deliberating on and implementing the e-voting process.
“Now, even Non-Resident Indians (NRI) can take part in important decisions that have to be taken through the e-voting route,” says CJ George, managing director, Geojit BNP Paribas Financial Services.
This could be done away with when voting is done electronically, say market men. “You will have a login ID and password which will be required to cast your vote. The e-voting platforms will have prefilled forms where the shareholder will only have to cast their vote,” explained the CDSL official.
Invalid votes are a big issue in postal ballots. A vote is called invalid, for instance, if there are issues with the signature on the ballot, if the shareholder has not ticked the option in a proper way, the details of the shares held by the investor do not match the records with the company and so on.
Though e-voting is not a substitute for an AGM, it will be useful when companies have to pass special resolutions. By taking out the aspect of physical presence, Sebi is ensuring that the process is made easier for investors to participate.
In the past, in order to cast your vote or to have your say in important decisions of a company whose shares you hold, you needed to be physically present at the shareholders’ meeting or ask for a postal ballot whereby you would send in your votes.
At the most you can have a “proxy” vote or have someone stand in for you.
This was indeed a tedious process, which meant many investors would skip such meetings or not send in their votes. As a result, they would miss out on opportunities to take part in company matters, such as mergers and acquisitions, fund raising and so on.
A stock exchange official said that currently majority of the votes do not come in, that is, shareholders do not participate.
Indian mobile handset market crosses 50 million units: Study
Mumbai: Mobile phone sales crossed the 50 million mark in the January-March quarter of this year, up 9.1% from last year at the same, according to the latest data released by Cybermedia Research India. Smartphones made up 5.3% of the phones sold and almost a quarter of the total handset revenues in India.
Multi-sim handsets, which have been very popular among Indian consumers, accounted for two-thirds of the total sales while 3G handset accounted for under 10% of total sales, according to the Cybermedia numbers.
In the overall mobile handsets market, troubled Finnish handset maker Nokia retained its leadership position with 23% share, followed by Samsung at second position with 14.1% and homegrown brand Micromax at third position with 5.8%, in terms of sales (unit shipments) during the January-March period.
"As the India mobile handsets market grows the needs of users are clearly seen to be converging around two major form factors - high-power, high-speed smartphones vis-a-vis value-plus, content-enabled feature phones. While most players are strong in a particular category, Samsung and others have been able to maintain a strong presence across the spectrum," said Anirban Banerjee, associate vice president, research and advisory services, Cybermedia Research.
Players like Motorola and Sony have chosen to stay in the high value smartphones segment, which accounts for just 5.3% of shipments but added up to as much as 23.4% of the market value in the January-March quarter, according to the data released by Cybermedia.
"Currently, large, international players like Nokia and RIM, as well as relatively new entrants like Micromax, Karbonn, Lava and Spice are faced with the challenge to enhance their portfolio of products, models and services, to stay relevant and profitable in the long run," added Naveen Mishra, lead analyst, Telecoms Practice, Cybermedia Research.
Shipments of multi-SIM handset category continued its rise, accounting for as much as 67.7% of total shipments in the last quarter.
However, even more significantly, total shipments of 3G-enabled mobile handsets in the country touched 4.7 million units during the first quarter of the year. While this was a decline of (-)7.8% over the the October-December 2011 known as the 'festival quarter', it was a growth of 34.3% over the corresponding period last year.
"With the recently announced reduction in tariffs of 3G services by as much as 70% by leading India telecom service providers, the market for both 3G-enabled devices and mobile broadband-driven content is likely to see an upward trend in the forthcoming quarters," said Tarun Pathak, a telecoms analysts with Cybermedia Research. CyberMedia Research uses the term shipments to describe the number of handsets leaving the factory premises for stocking by distributors and retailers.
Multi-sim handsets, which have been very popular among Indian consumers, accounted for two-thirds of the total sales while 3G handset accounted for under 10% of total sales, according to the Cybermedia numbers.
In the overall mobile handsets market, troubled Finnish handset maker Nokia retained its leadership position with 23% share, followed by Samsung at second position with 14.1% and homegrown brand Micromax at third position with 5.8%, in terms of sales (unit shipments) during the January-March period.
"As the India mobile handsets market grows the needs of users are clearly seen to be converging around two major form factors - high-power, high-speed smartphones vis-a-vis value-plus, content-enabled feature phones. While most players are strong in a particular category, Samsung and others have been able to maintain a strong presence across the spectrum," said Anirban Banerjee, associate vice president, research and advisory services, Cybermedia Research.
Players like Motorola and Sony have chosen to stay in the high value smartphones segment, which accounts for just 5.3% of shipments but added up to as much as 23.4% of the market value in the January-March quarter, according to the data released by Cybermedia.
"Currently, large, international players like Nokia and RIM, as well as relatively new entrants like Micromax, Karbonn, Lava and Spice are faced with the challenge to enhance their portfolio of products, models and services, to stay relevant and profitable in the long run," added Naveen Mishra, lead analyst, Telecoms Practice, Cybermedia Research.
Shipments of multi-SIM handset category continued its rise, accounting for as much as 67.7% of total shipments in the last quarter.
However, even more significantly, total shipments of 3G-enabled mobile handsets in the country touched 4.7 million units during the first quarter of the year. While this was a decline of (-)7.8% over the the October-December 2011 known as the 'festival quarter', it was a growth of 34.3% over the corresponding period last year.
"With the recently announced reduction in tariffs of 3G services by as much as 70% by leading India telecom service providers, the market for both 3G-enabled devices and mobile broadband-driven content is likely to see an upward trend in the forthcoming quarters," said Tarun Pathak, a telecoms analysts with Cybermedia Research. CyberMedia Research uses the term shipments to describe the number of handsets leaving the factory premises for stocking by distributors and retailers.
Govt plans Rs 2k cr fund for pharma
New Delhi: The government is planning to set up a venture capital fund with a corpus of Rs 2,000 crore aimed at strengthening research and development capabilities in the pharmaceutical sector.
Commerce, industry and textiles minister Anand Sharma, who chaired the first meeting of the consultative committee on pharmaceutical exports on Tuesday, said a panel of secretaries would also be set up to devise a strategy for the growth of the pharma industry and address the concerns. The progress would be reviewed after three months. "We are considering a proposal of venture capital fund of Rs 2,000 crore for the drug industry. We are talking with Exim Bank for this," Sharma told reporters.
He assured industry representatives that the government will take up the issue of non-tariff barriers being mounted by the US and the EU against Indian pharma industry in bilateral forums at appropriate levels. "The government is fully committed to support this vibrant sector," Sharma said.
The minister said substantial opportunities exist for Indian pharmaceutical industry in emerging economies such as Russia, Africa, South America.
The industry leaders made a strong plea for timely approvals and procedural simplification by the Drug Controller General of India for clinical trials, import of samples among other issues. They also urged liberal funding through venture capital vehicle for giving an impetus to R&D. The industry said the domestic pharma sector is capable of doubling exports if the right policy initiatives are taken.
Commerce, industry and textiles minister Anand Sharma, who chaired the first meeting of the consultative committee on pharmaceutical exports on Tuesday, said a panel of secretaries would also be set up to devise a strategy for the growth of the pharma industry and address the concerns. The progress would be reviewed after three months. "We are considering a proposal of venture capital fund of Rs 2,000 crore for the drug industry. We are talking with Exim Bank for this," Sharma told reporters.
He assured industry representatives that the government will take up the issue of non-tariff barriers being mounted by the US and the EU against Indian pharma industry in bilateral forums at appropriate levels. "The government is fully committed to support this vibrant sector," Sharma said.
The minister said substantial opportunities exist for Indian pharmaceutical industry in emerging economies such as Russia, Africa, South America.
The industry leaders made a strong plea for timely approvals and procedural simplification by the Drug Controller General of India for clinical trials, import of samples among other issues. They also urged liberal funding through venture capital vehicle for giving an impetus to R&D. The industry said the domestic pharma sector is capable of doubling exports if the right policy initiatives are taken.
India ranked second in Global Innovation Efficiency Index
New Delhi: India takes the second spot in the Global Innovation Efficiency Index, a metric to assess the innovation landscape in different countries. INSEAD and the World Intellectual Property Organization (WIPO) published a report titled 'Stronger Innovation Linkages for Global Growth' which benchmarks the performance of different countries in addressing the gaps in the innovation cycle by developing products and services for emerging markets. The report ranks 141 countries/economies on the basis of their innovation capabilities and results.
Chandrajit Banerjee, director-general, CII said, "Every country can aspire to be an innovation-driven economy. The more resource-constrained an economy is, the more prone to innovation it actually can be. Importantly, innovation is about acts, which improve everyday lives and a journey towards faster-sustainable-inclusive-growth."
However, Per-Ola Karlsson, senior partner, managing director of Europe, Booz & Company, said developed economies must continue to strengthen and develop linkages among stakeholders in the innovation landscape to stay ahead in strategic sectors. "By aligning cross-cutting policies and co-ordinating the efforts of all stakeholders, these coherent linkages drive the innovation process," he added.
The Innovation Input Index, the sub-index of the efficiency index, is evaluated on key parameters including human capital and research, institutions and infrastructure. While the output index captures actual evidence of innovation results and knowledge and technology outputs.
Chandrajit Banerjee, director-general, CII said, "Every country can aspire to be an innovation-driven economy. The more resource-constrained an economy is, the more prone to innovation it actually can be. Importantly, innovation is about acts, which improve everyday lives and a journey towards faster-sustainable-inclusive-growth."
However, Per-Ola Karlsson, senior partner, managing director of Europe, Booz & Company, said developed economies must continue to strengthen and develop linkages among stakeholders in the innovation landscape to stay ahead in strategic sectors. "By aligning cross-cutting policies and co-ordinating the efforts of all stakeholders, these coherent linkages drive the innovation process," he added.
The Innovation Input Index, the sub-index of the efficiency index, is evaluated on key parameters including human capital and research, institutions and infrastructure. While the output index captures actual evidence of innovation results and knowledge and technology outputs.
Adani Ports signs pact to develop bulk terminal at Kandla
Chennai: Adani Ports and Special Economic Zone on Monday said that its subsidiary, Adani Kandla Bulk Terminal Pvt Ltd, has signed a concession agreement with the Kandla Port Trust to set up a dry bulk terminal at the Kandla port on build, operate, transfer basis.
The project, estimated to cost Rs 1,200 crore, is expected to be completed in 24 months.
The terminal will have a capacity to handle 20 million tonnes of cargo. This will be a modern and mechanised cargo bulk terminal and will act as a “gamechanger for EXIM trade of the Northwest hinterland”.
Location
The significance of the project is its location - it will be located off Tekra near Tuna outside the Kandla creek. The Tuna port is owned by the Kandla Port Trust. It is learnt that Adani will construct four T-shaped jetties near Tuna outer buoy, where the draft (depth) is 14 metres.
Now, large ships can anchor directly at Tuna rather than have to transfer cargo on to barges and float the barges down to the Kandla port. Berthing at Tuna also cuts the distance to the hinterland.
Sources said the plan also includes a container terminal and a special economic zone between Kandla and Tuna.
Adani Ports has “thus emerged the only private sector port operator with presence across six ports in India,” the company has said in a notification to the stock exchanges.
It is now the only private port infrastructure company to operate and construct ports and terminals across six locations in India – Mundra, Dahej, Hazira and Kandla in Gujarat, Mormugao in Goa and Visakhapatnam.
The terminal at Kandla will handle cargo such as coal, fertiliser, salt, minerals and agro products.
Adani Ports aims to reach 200 million tonnes of handling capacity by 2020.
"In 2011-12, Adani Ports achieved a turnover of Rs 2,482 crore on which it made a net profit of Rs 1,177 crore, (or 48 per cent of turnover). Each share earned Rs 5.88."
On the BSE, the share of Adani Ports and Special Economic Zone Ltd (of face value of Rs 2) is being traded at around Rs 122.60.
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