Mumbai: Billionaire investor Warren Buffett's Berkshire Hathaway is interested in solar power, and his interest in alternative energy has provided a major boost to Indian solar operators in the private sector.
American Energy Holdings, a company controlled by Berkshire Hathaway, has acquired two solar photovoltaic power plant projects in California from SunPower Corporation. American Energy is to shell out over $2 billion for the sale, construction and operation of the projects by SunPower.
As a private solar player said, “India's solar power sector was very popular with private equity players in 2012. More operators are looking for funds to carry out their expansion plans.”
India has over 40 private solar players such as Tata BP Solar India, Sun Technics Energy Systems, Bharat Heavy Electricals, Moser Baer, Premier Solar Systems and Maharishi Solar Technology, amongst others.
Officials said several States are rushing to install solar power to meet growing energy demand.
500 MW solar plant
For instance, in Karnataka, the State Government has decided to construct a 500 MW solar power complex in Chitradurga district, instead of the Bijapur district.
Neighbouring Maharashtra too is expanding its solar power generation activities Vidarbha, Khandesh and Marathwada regions. Talks have also progressed with regards to a solar power plant in Osmanabad in Marathwada region.
In the case of Karnataka, the decision to relocate the planned solar park was taken following widespread opposition to the plant in Bijapur. In September 2012, the government had announced plans for the project that was meant to include private sector investment.
To be constructed in several phases starting with 100 MW capacity in the first phase, the solar park is part of Karnataka's plans to add 4,300 MW of renewable power capacity in the coming two years.
The solar park is to also provide all infrastructure facilities to private investors interested in setting up their solar power panels, with a facility to evacuating power into the grid.
Though States such as Maharashtra, Gujarat and Rajasthan already have a solar energy policy in place, officials added that much more needs to be done to ensure that the country's installed capacity of 1,047 MW of solar power in November 2012, goes beyond the 2,000 MW capacity by March 2013.
Success in my Habit
Tuesday, January 8, 2013
Dr Reddy’s launches Finasteride tablets in US
Hyderabad: Pharma major Dr Reddy’s Laboratories Ltd has launched Finasteride tablets, a bioequivalent generic version of Propecia (Finasteride) tablets in the US market. The tablets are used for treating male pattern hair loss.
Dr. Reddy’s Abbreivated New Drug Application (ANDA) for Finasteride has been awarded a 180-day period of marketing exclusivity in the US on January 2, 2013, the Hyderabad-based company said in a release.
The Propecia tablets brand had US sales of approximately $136 million for the most recent 12 months ended in October 2012, according to IMS Health.
Dr. Reddy’s Abbreivated New Drug Application (ANDA) for Finasteride has been awarded a 180-day period of marketing exclusivity in the US on January 2, 2013, the Hyderabad-based company said in a release.
The Propecia tablets brand had US sales of approximately $136 million for the most recent 12 months ended in October 2012, according to IMS Health.
Manmohan unveils new policy to raise R&D spend
Kolkata: Prime Minister Manmohan Singh today unveiled the country's new Science, Technology and Innovation policy at the inaugural session of the Centenary Celebrations of the Indian Science Congress.
The policy plans to trigger an “ecosystem for innovative abilities” and achieve gender parity in science technology and innovation activities. “It seeks to accelerate the pace of discovery, diffusion and delivery of science-led solutions for serving the aspirational goals of India for faster, sustainable and inclusive growth,” a release said.
Some of the key features of the policy include making careers in science and research attractive, enabling conversion of research and development output with societal and commercial applications, among others. One of the aims of the policy is to raise the gross expenditure in research and development to 2 per cent from the present one per cent of the GDP in this decade by encouraging enhanced private sector contribution.
It will seek to increase the number of full time equivalent of research and development personnel in India by at least 66 per cent of the present strength in five years.
Increasing accessibility, availability and affordability of innovations especially for women, differently-abled and disadvantaged sections of society is also a focus area of the policy.
Some of the key mechanisms for implementation of the policy include facilitating private sector investment in research and development, promoting establishment of research and development facilities on a PPP-basis, aligning venture capital and closing the gaps in translation of new findings at the grassroots and commercial space.
To establish the implementation of the policy, the Department of Science and Technology will establish a 'policy implementation group' to “expeditiously operationalise the proposals within the next two years”.
The policy plans to trigger an “ecosystem for innovative abilities” and achieve gender parity in science technology and innovation activities. “It seeks to accelerate the pace of discovery, diffusion and delivery of science-led solutions for serving the aspirational goals of India for faster, sustainable and inclusive growth,” a release said.
Some of the key features of the policy include making careers in science and research attractive, enabling conversion of research and development output with societal and commercial applications, among others. One of the aims of the policy is to raise the gross expenditure in research and development to 2 per cent from the present one per cent of the GDP in this decade by encouraging enhanced private sector contribution.
It will seek to increase the number of full time equivalent of research and development personnel in India by at least 66 per cent of the present strength in five years.
Increasing accessibility, availability and affordability of innovations especially for women, differently-abled and disadvantaged sections of society is also a focus area of the policy.
Some of the key mechanisms for implementation of the policy include facilitating private sector investment in research and development, promoting establishment of research and development facilities on a PPP-basis, aligning venture capital and closing the gaps in translation of new findings at the grassroots and commercial space.
To establish the implementation of the policy, the Department of Science and Technology will establish a 'policy implementation group' to “expeditiously operationalise the proposals within the next two years”.
Tourism Minister Calls for Strengthening of Ties with Vietnam
New Delhi: Union Tourism Minister Shri K Chiranjeevi has said that Vietnam is a pillar of India’s Look East Policy and India gives high priority to strengthening our engagement with Vietnam both bilaterally and within the framework of ASEAN. Addressing a seminar on Trade and Investment organized by the Embassy of India in Hanoi today in coordination with Ministry of Industry and Trade and Vietnam Chamber of Commerce and Industry the Minister said, “ We stand ready to add more content to our ‘Strategic Partnership’, especially in economic, commercial, defence and security, scientific and technical and cultural fields.” While emphasising on bilateral trade Shri Chiranjeevi said; “We have set a target of US$100 billion for ASEAN India trade by 2015. The ASEAN India FTA in goods and the conclusion of negotiation on the ASEAN India FTA in services and investments have laid the foundations for an ASEAN India Free Trade Area, comprising 1.8 billion people and a combined GDP of US$3.8 billion.”
The seminar was attended by Mr. Phung Tan Viet, Vice Chairman of People’s Committee of Danang, Mr. Hoang Van Dung, Vice Chairman of Vietnam Chamber of Commerce and Industry, Mr. Nguyen Van Tuan, Chairman of Vietnam National Tourism Administration and representatives of about 150 Vietnamese companies.
The Tourism Minister also had a bilateral discussion with the Chairman of Vietnam National Tourism Administration Mr.Nguyen Van Tuan. During the discussion, the Minister said that the potential for cooperation between the two countries in tourism is very big and proposed that government authorities of both the countries should give the lead to promote the cooperation’s among tour operators in both Vietnam and India. He requested Vietnam to introduce a good package for film making delegations from India so that they can come and shoot films about Vietnam. He invited the Vietnamese delegation to participate in the Indian International Tourism Mart which will be held later this month in Guwahati.
The seminar was attended by Mr. Phung Tan Viet, Vice Chairman of People’s Committee of Danang, Mr. Hoang Van Dung, Vice Chairman of Vietnam Chamber of Commerce and Industry, Mr. Nguyen Van Tuan, Chairman of Vietnam National Tourism Administration and representatives of about 150 Vietnamese companies.
The Tourism Minister also had a bilateral discussion with the Chairman of Vietnam National Tourism Administration Mr.Nguyen Van Tuan. During the discussion, the Minister said that the potential for cooperation between the two countries in tourism is very big and proposed that government authorities of both the countries should give the lead to promote the cooperation’s among tour operators in both Vietnam and India. He requested Vietnam to introduce a good package for film making delegations from India so that they can come and shoot films about Vietnam. He invited the Vietnamese delegation to participate in the Indian International Tourism Mart which will be held later this month in Guwahati.
Monday, January 7, 2013
KEC International bags orders worth Rs 1,511 cr
Coimbatore: KEC International, an RPG Group company, has secured orders worth Rs 1,511 crore in transmission, power system and cable businesses in India, Oman, Nepal and the Americas.
In India, it has secured two orders from Power Grid Corporation of India Ltd (PGCIL).
A Rs 286-crore order is for the supply and erection of a 800 kV HVDC transmission line in Chhattisgarh on a turnkey basis.
Another order worth Rs 386 crore is for the supply and erection of a similar line in Chhattisgarh. In addition, the company has also got a Rs 43 crore order for power and telecom cables.
In Oman, KEC has secured a Rs 602-crore order for design, supply and erection of a 400 kV transmission line from Sur to Izki grid station on a turnkey basis. The order is from Bhawan Engineering Company, Oman. The line is for the Oman Electricity Transmission Company.
In Nepal, KEC has got a Rs 131 crore order for the supply and erection of a transmission line and substation.
SAE Towers, a wholly-owned subsidiary of the KEC, has secured orders worth Rs 63 crore for the supply of lattice towers and poles to Brazil, Mexico and the US.
In India, it has secured two orders from Power Grid Corporation of India Ltd (PGCIL).
A Rs 286-crore order is for the supply and erection of a 800 kV HVDC transmission line in Chhattisgarh on a turnkey basis.
Another order worth Rs 386 crore is for the supply and erection of a similar line in Chhattisgarh. In addition, the company has also got a Rs 43 crore order for power and telecom cables.
In Oman, KEC has secured a Rs 602-crore order for design, supply and erection of a 400 kV transmission line from Sur to Izki grid station on a turnkey basis. The order is from Bhawan Engineering Company, Oman. The line is for the Oman Electricity Transmission Company.
In Nepal, KEC has got a Rs 131 crore order for the supply and erection of a transmission line and substation.
SAE Towers, a wholly-owned subsidiary of the KEC, has secured orders worth Rs 63 crore for the supply of lattice towers and poles to Brazil, Mexico and the US.
Geometric's German arm buys 3Cap
Mumbai: Geometric’s German subsidiary Geometric Europe GmbH has acquired 100 per cent stake in electronics engineering company 3Cap Technologies GmbH (3Cap).
“The use of embedded systems is increasing in all our customer products. This acquisition fills a major gap in the solutions we offer to our customers, while at the same time strengthening our presence in Europe. Thus, in taking this action, we address two main needs of our customers - the ability to deliver embedded systems based solutions and a stronger presence in Europe,” said Manu Parpia, Managing Director and CEO, Geometric.
About 70 per cent of Geometric’s revenues come from the US market. 3Cap is valued at €11 million of which €7.5 million will be paid up front. Geometric is funding the acquisition out of accrued cash, said a statement from the company.
The balance of payments will be subject to earn out under mutually agreed terms and conditions, over a maximum period of 3 years.
“The use of embedded systems is increasing in all our customer products. This acquisition fills a major gap in the solutions we offer to our customers, while at the same time strengthening our presence in Europe. Thus, in taking this action, we address two main needs of our customers - the ability to deliver embedded systems based solutions and a stronger presence in Europe,” said Manu Parpia, Managing Director and CEO, Geometric.
About 70 per cent of Geometric’s revenues come from the US market. 3Cap is valued at €11 million of which €7.5 million will be paid up front. Geometric is funding the acquisition out of accrued cash, said a statement from the company.
The balance of payments will be subject to earn out under mutually agreed terms and conditions, over a maximum period of 3 years.
Mobile internet users to touch 130-million in a year
New Delhi: With affordable Internet-enabled tablets and smartphones flooding the market, nearly 130 million users are set to access the Internet in the country through such mobile devices by next year.
According to a joint study by the Internet and Mobile Association of India (IAMAI) and IMRB, India will have 130.6 million mobile internet users by March 2014.
In December 2012, the number of users accessing Internet through mobile devices was 87.1 million. These mobile devices include laptops with dongles, tablet, dongles that connects to Internet .
According to the report, mobile Internet users who accessed the Net through mobile phones are warming up to spending a considerable amount of money on data services. While online games are accessed by nearly 50 per cent of the Mobile Internet users, less than 30 per cent of users read online news and watch online videos, it said.
The report finds that an average monthly bill of a user who accesses Internet on mobile devices is Rs 460 of which Rs 198 is spent towards internet expenses.
“This is a very healthy trend as it shows willingness of the users to spend nearly 40 per cent of the bill towards Internet access. The rest of the amount is spent on voice services,” the report said.
Besides, Email, social networking services (SNS) and messengers have high usage among mobile internet users.
The data may cheer up the mobile service providers who for long were pushing high-margin data services to the customers. The voice services is a low margin business as the tariff for voice calls are very low in India.
According to a joint study by the Internet and Mobile Association of India (IAMAI) and IMRB, India will have 130.6 million mobile internet users by March 2014.
In December 2012, the number of users accessing Internet through mobile devices was 87.1 million. These mobile devices include laptops with dongles, tablet, dongles that connects to Internet .
According to the report, mobile Internet users who accessed the Net through mobile phones are warming up to spending a considerable amount of money on data services. While online games are accessed by nearly 50 per cent of the Mobile Internet users, less than 30 per cent of users read online news and watch online videos, it said.
The report finds that an average monthly bill of a user who accesses Internet on mobile devices is Rs 460 of which Rs 198 is spent towards internet expenses.
“This is a very healthy trend as it shows willingness of the users to spend nearly 40 per cent of the bill towards Internet access. The rest of the amount is spent on voice services,” the report said.
Besides, Email, social networking services (SNS) and messengers have high usage among mobile internet users.
The data may cheer up the mobile service providers who for long were pushing high-margin data services to the customers. The voice services is a low margin business as the tariff for voice calls are very low in India.
IIM-Raipur signs MoU with France's B-school
Mumbai: Indian Institute of Management, Raipur, has signed a Memorandum of Understanding ( MoU) with France-based Grenoble Ecole de Management for student and faculty exchange programmes, collaborative research projects and organisation of joint academic and scientific activities.
The institutions will accept post-graduate students from each other, starting from academic year 2013-14. They will also exchange up to five students for a semester/term of study each academic year. No tuition fee will be charged by the partner or host institution.
Grenoble Ecole de Management has 10 sites abroad. They are based in China, Georgia, Lebanon, Morocco, Russia, Saudi Arabia, Singapore, Switzerland, the UK, and the US.
The cooperation program aims to foster advancement in teaching, research, cultural understanding, as well as international reputations of both institutions through the exchange of postgraduate students, faculty members, and academic information and materials; the organisation of joint corporate training programs, joint research programs, joint conferences; and other academic exchanges that both institutions agree to.
Grenoble Ecole de Management and IIM-Raipur will also exchange faculty members, which will create a base for the development of joint training programmes, formulating joint research projects, exchange of teaching materials, and so on.
The institutions will accept post-graduate students from each other, starting from academic year 2013-14. They will also exchange up to five students for a semester/term of study each academic year. No tuition fee will be charged by the partner or host institution.
Grenoble Ecole de Management has 10 sites abroad. They are based in China, Georgia, Lebanon, Morocco, Russia, Saudi Arabia, Singapore, Switzerland, the UK, and the US.
The cooperation program aims to foster advancement in teaching, research, cultural understanding, as well as international reputations of both institutions through the exchange of postgraduate students, faculty members, and academic information and materials; the organisation of joint corporate training programs, joint research programs, joint conferences; and other academic exchanges that both institutions agree to.
Grenoble Ecole de Management and IIM-Raipur will also exchange faculty members, which will create a base for the development of joint training programmes, formulating joint research projects, exchange of teaching materials, and so on.
Factory output grows to 6-month high, says HSBC index
Mumbai: India’s manufacturing sector growth expanded to a six-month high in December, according to the HSBC Purchasing Manager’s Index (PMI), which stood at 54.7.
In November, the index stood at 53.7. A figure above 50 indicates expansion.
“Activity in the manufacturing sector picked up again led by faster output growth and a further uptick in new orders, which led to a faster increase in backlogs of work as companies struggled to keep up with demand. Moreover, final goods inventories’ depletion continued, which suggests that output growth is likely to hold up in coming months,” Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said.
The report compiled by financial information services company Markit on behalf of HSBC said that output at manufacturing companies in India rose during December, amid reports of higher order book volumes. “The volume of incoming new work at manufacturers in India increased in December. New export orders also expanded, and at a solid pace. Anecdotal evidence suggested that total new work rose in line with the launch of new products and strengthening demand,” the report said.
However, there was only a slight improvement in employment in the manufacturing segment in December.
About five per cent of monitored companies reported increased staffing levels, while majority (91 per cent) indicated no change as labour shortages and demand for higher wages weighed on employment.
In November, the index stood at 53.7. A figure above 50 indicates expansion.
“Activity in the manufacturing sector picked up again led by faster output growth and a further uptick in new orders, which led to a faster increase in backlogs of work as companies struggled to keep up with demand. Moreover, final goods inventories’ depletion continued, which suggests that output growth is likely to hold up in coming months,” Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said.
The report compiled by financial information services company Markit on behalf of HSBC said that output at manufacturing companies in India rose during December, amid reports of higher order book volumes. “The volume of incoming new work at manufacturers in India increased in December. New export orders also expanded, and at a solid pace. Anecdotal evidence suggested that total new work rose in line with the launch of new products and strengthening demand,” the report said.
However, there was only a slight improvement in employment in the manufacturing segment in December.
About five per cent of monitored companies reported increased staffing levels, while majority (91 per cent) indicated no change as labour shortages and demand for higher wages weighed on employment.
UK clothing co Superdry plans 20 stores over 5 years
Mumbai: British clothing brand Superdry is betting big on India, its first entry in any BRIC market, and expects to make it one of its most successful with Mukesh Ambani's Reliance Brands as its local partner.
The London Stock Exchange listed-Supergroup, which owns the brand worn by celebrities like David Beckham, Justin Bieber, Kristen Stewart, Ben Stiller, among others, will open 20 stores in the first five years of being in India, James Holder, founder of Superdry told TOI in an exclusive chat.
Hollister, by American retailer major Abercrombie & Fitch competes globally with Superdry. Inspired by vintage styling and Japanese graphics, the brand has been growing aggressively internationally with presence across mainland Europe, US and some parts of the Middle East.
"We have come to India before China, Brazil and Russia because of the cultural fit that this market offers to us. We have signed the longest agreement with any partner so far here in India which shows our commitment to this market," Holder said. Superdry is still evaluating an entry into China, a country which is usually the first point of entry for global brands to the emerging markets.
Reliance Brands, which retails an array of international labels including Ermenegildo Zegna, Diesel, Quiksilver, Kenneth Cole and Brooks Brothers among several others, has signed a 20-year licensing deal with the British fashion brand. Reliance Brands, a subsidiary of Reliance Retail, will open seven stores for the brand over the next six month and plans to establish presence even in tier two cities.
Superdry has 82 stores in the UK, 88 stores across mainland Europe, and 58 flagship stores in the rest of the world. The UK market brings in as much as 60% revenue for the ten-year old brand.
"Over the years the clothing market for Indian youth has been largely about denims but things are changing now. Superdry does not really compete with anyone at the moment, the idea is to build a connect with the youth through various events, social media etc," said Darshan Mehta, chief executive of Reliance Brands.
Operating at the Rs 3,000- 8000 price point it will compete with the likes of Tommy Hilfiger and Calvin Klein on the pricing front.
Mehta said existing brands in the group's portfolio such as Quiksilver and Roxy, which fall in the outdoor sports lifestyle category, will not directly compete with Superdry instead will help grow the market.
Although, Superdry has its core market across the 15-25 year olds, it is popular between the ages 30-45 among both men and women, Holder said . Recently, Sanjay Lalbhai-led Arvind Ltd brought in the $1.5 billion Australian surfwear brand Billabong to India in order to cash in on the youth fashion segment.
The London Stock Exchange listed-Supergroup, which owns the brand worn by celebrities like David Beckham, Justin Bieber, Kristen Stewart, Ben Stiller, among others, will open 20 stores in the first five years of being in India, James Holder, founder of Superdry told TOI in an exclusive chat.
Hollister, by American retailer major Abercrombie & Fitch competes globally with Superdry. Inspired by vintage styling and Japanese graphics, the brand has been growing aggressively internationally with presence across mainland Europe, US and some parts of the Middle East.
"We have come to India before China, Brazil and Russia because of the cultural fit that this market offers to us. We have signed the longest agreement with any partner so far here in India which shows our commitment to this market," Holder said. Superdry is still evaluating an entry into China, a country which is usually the first point of entry for global brands to the emerging markets.
Reliance Brands, which retails an array of international labels including Ermenegildo Zegna, Diesel, Quiksilver, Kenneth Cole and Brooks Brothers among several others, has signed a 20-year licensing deal with the British fashion brand. Reliance Brands, a subsidiary of Reliance Retail, will open seven stores for the brand over the next six month and plans to establish presence even in tier two cities.
Superdry has 82 stores in the UK, 88 stores across mainland Europe, and 58 flagship stores in the rest of the world. The UK market brings in as much as 60% revenue for the ten-year old brand.
"Over the years the clothing market for Indian youth has been largely about denims but things are changing now. Superdry does not really compete with anyone at the moment, the idea is to build a connect with the youth through various events, social media etc," said Darshan Mehta, chief executive of Reliance Brands.
Operating at the Rs 3,000- 8000 price point it will compete with the likes of Tommy Hilfiger and Calvin Klein on the pricing front.
Mehta said existing brands in the group's portfolio such as Quiksilver and Roxy, which fall in the outdoor sports lifestyle category, will not directly compete with Superdry instead will help grow the market.
Although, Superdry has its core market across the 15-25 year olds, it is popular between the ages 30-45 among both men and women, Holder said . Recently, Sanjay Lalbhai-led Arvind Ltd brought in the $1.5 billion Australian surfwear brand Billabong to India in order to cash in on the youth fashion segment.
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