Ahmedabad: Welspun India Ltd (WIL) ranks first in the Top 15 Supplier Giants ( USA) by Home Textiles Today in a recently concluded survey.
Welspun has moved up the ladder to the number 1 position as compared to the number 2 position in the last year, the company said on Monday.
The survey mentions that refocusing on core competencies Welspun has reported higher volumes and has improved margins in terry towels, towels and rugs.
Dipali Goenka, MD, Welspun Global Brands Ltd said this is a significant achievement as US is one of the biggest and most competitive markets.
Success in my Habit
Wednesday, February 6, 2013
Nestle India picks up 26% stake in Indocon Agro
New Delhi: In a surprise move, Nestle India Ltd has acquired 26 per cent stake in a little known dairy company Indocon Agro and Allied Activities Pvt Ltd.
In a note to the BSE on Monday, Nestle said that it had entered into an agreement to pick up a minority stake in Indocon, which is engaged in milk collection business in western India.
Nestle India currently has its own manufacturing facilities at Moga in Punjab and Samalkha in Haryana, which largely service the northern market.
Apart from that, it has contract supply arrangements for the West and South markets with Baramati-based Schreiber Dynamix Dairies Ltd and the Hyderabad-based Heritage Foods for its curd and UHT (ultra high temperature) milk. Besides, it sources milk powder from domestic players such as Sterling Agro and VRS Foods.
“When there are so many suppliers, one doesn’t understand the rationale for picking up stakes, that too in a company about which not much is known,” an industry source said.
One possibility could be that this company could be linked to Schreiber Dynamix itself. There has been talk, of late, about Nestle tying up with Schreiber Dynamix to set up a milk powder plant at Baramati.
Schreiber Dynamix, formerly Dynamix Dairy Industries Ltd, was originally promoted by K.M. Goenka, before the US-based cheese major Schreiber International Inc acquired a majority stake in it in 2003.
Following that, Goenka floated a separate company, Sahyadri Agro Produce and Dairy Ltd, which is engaged in the business of milk handling for captive consumption of Schreiber Dynamix.
A Nestle India spokesperson said the Swiss major’s deal with Indocon was of ‘strategic and long-term’ nature, but could not give further details, including where the latter was based or how much milk it collects per day. Details of the financials of the transaction were also not disclosed.
Nestle India shares ended higher by 0.63 per cent to end at Rs 4,749 on the BSE on Monday.
In a note to the BSE on Monday, Nestle said that it had entered into an agreement to pick up a minority stake in Indocon, which is engaged in milk collection business in western India.
Nestle India currently has its own manufacturing facilities at Moga in Punjab and Samalkha in Haryana, which largely service the northern market.
Apart from that, it has contract supply arrangements for the West and South markets with Baramati-based Schreiber Dynamix Dairies Ltd and the Hyderabad-based Heritage Foods for its curd and UHT (ultra high temperature) milk. Besides, it sources milk powder from domestic players such as Sterling Agro and VRS Foods.
“When there are so many suppliers, one doesn’t understand the rationale for picking up stakes, that too in a company about which not much is known,” an industry source said.
One possibility could be that this company could be linked to Schreiber Dynamix itself. There has been talk, of late, about Nestle tying up with Schreiber Dynamix to set up a milk powder plant at Baramati.
Schreiber Dynamix, formerly Dynamix Dairy Industries Ltd, was originally promoted by K.M. Goenka, before the US-based cheese major Schreiber International Inc acquired a majority stake in it in 2003.
Following that, Goenka floated a separate company, Sahyadri Agro Produce and Dairy Ltd, which is engaged in the business of milk handling for captive consumption of Schreiber Dynamix.
A Nestle India spokesperson said the Swiss major’s deal with Indocon was of ‘strategic and long-term’ nature, but could not give further details, including where the latter was based or how much milk it collects per day. Details of the financials of the transaction were also not disclosed.
Nestle India shares ended higher by 0.63 per cent to end at Rs 4,749 on the BSE on Monday.
State signs 2 biotech MoUs at Bangalore Bio
Bengaluru: Karnataka Biotechnology and Information Technology Services (KBITS) has signed two MoUs at Bangalore India Bio to fulfil the biotech industry’s needs.
Karnataka IT, BT & ST Secretary I. S. N. Prasad, said, “KBITS signed MoU with Scottish Development International (SDI) to enable promotion of biotech activities and encourage investment opportunities between India and Scotland.”
“The second MoU is with the Georgia Department of Economic Development, Atlanta, Georgia. Here, we are exploring collaboration with potential companies with university research and industry expertise to help train manpower,” he added. The MoUs are industry-driven and the Government has taken the role of a facilitator.
Speaking after signing the MoU, Anne MacColl, chief executive, SDI, said, “The Scottish engagement in life sciences with the Bangalore India Bio will create a sustainable partnership between India and Scotland. In India, Karnataka is the capital of biotech, all evidences tell us that companies tend to grow in this sector on employment skills and taking new ideas about technology innovation.”
“We are exploring opportunities in medical innovations and scientific industries such as started with Dolly the sheep, NRT, p53 repression gene regulating economic conditions, stem cells, animal human drug device, stroke diabetes, translations of medicines, she added. Prasad said, “Scotland has some of the best BT finishing schools and its expertise will be useful in improving similar schools in Karnataka.”
KIBTS is exploring collaboration with potential companies with university research and industry expertise to help train manpower through MoUs with Georgia
According to Mark Lytle, Division Director, Georgia Centres of Innovation, “Through this MoU, we are connecting business with researchers. Georgia is leading in vaccines as well as immunological research and clinical trials.”
“We do a lot of about legislative work, by this work many health IT companies have recognised us and about 120 companies have based themselves in Georgia,” he added. Emory University, based in Georgia, has sought the approval of the National Institutes of Health to set up a vaccine testing and evaluation centre in Bangalore.
Murali Krishna Kaja, Associate Professor, School of Medicine, Emory University, said at present Emory University conducts clinical research in India in association with International Centre for Genetic Engineering and Biotechnology (ICGEB), New Delhi. The Joint ICGEB-Emory Vaccine Centre is focussing on vaccine for HIV/Aids, tuberculosis, hepatitis C, dengue, malaria and chikungunya.
Prof Kaja said the testing centre is likely to come up at the St John’s Hospital and Research Institute, Bangalore.
Karnataka IT, BT & ST Secretary I. S. N. Prasad, said, “KBITS signed MoU with Scottish Development International (SDI) to enable promotion of biotech activities and encourage investment opportunities between India and Scotland.”
“The second MoU is with the Georgia Department of Economic Development, Atlanta, Georgia. Here, we are exploring collaboration with potential companies with university research and industry expertise to help train manpower,” he added. The MoUs are industry-driven and the Government has taken the role of a facilitator.
Speaking after signing the MoU, Anne MacColl, chief executive, SDI, said, “The Scottish engagement in life sciences with the Bangalore India Bio will create a sustainable partnership between India and Scotland. In India, Karnataka is the capital of biotech, all evidences tell us that companies tend to grow in this sector on employment skills and taking new ideas about technology innovation.”
“We are exploring opportunities in medical innovations and scientific industries such as started with Dolly the sheep, NRT, p53 repression gene regulating economic conditions, stem cells, animal human drug device, stroke diabetes, translations of medicines, she added. Prasad said, “Scotland has some of the best BT finishing schools and its expertise will be useful in improving similar schools in Karnataka.”
KIBTS is exploring collaboration with potential companies with university research and industry expertise to help train manpower through MoUs with Georgia
According to Mark Lytle, Division Director, Georgia Centres of Innovation, “Through this MoU, we are connecting business with researchers. Georgia is leading in vaccines as well as immunological research and clinical trials.”
“We do a lot of about legislative work, by this work many health IT companies have recognised us and about 120 companies have based themselves in Georgia,” he added. Emory University, based in Georgia, has sought the approval of the National Institutes of Health to set up a vaccine testing and evaluation centre in Bangalore.
Murali Krishna Kaja, Associate Professor, School of Medicine, Emory University, said at present Emory University conducts clinical research in India in association with International Centre for Genetic Engineering and Biotechnology (ICGEB), New Delhi. The Joint ICGEB-Emory Vaccine Centre is focussing on vaccine for HIV/Aids, tuberculosis, hepatitis C, dengue, malaria and chikungunya.
Prof Kaja said the testing centre is likely to come up at the St John’s Hospital and Research Institute, Bangalore.
Crompton Greaves to supply transformers to New Zealand firm
New Delhi: Crompton Greaves, a part of $4-billion Avantha Group, on Monday said it has signed a long-term supply relationship agreement with Transpower NZ Ltd.
Transpower is the owner and operator of the New Zealand national grid.
“With this agreement, CG becomes the first of three preferred vendors to supply transformers to Transpower, with the potential to scale to orders worth $15 million annually. The transformers are being manufactured in CG’s Jakarta, Indonesia, facility,” the company said in a statement.
The agreement will remain in force for five years with the possibility of two extensions of two years each.
“Our expansion to 500kV transformers for large customers in SEA built a high degree of confidence with Transpower, and led to the inking of this agreement. This deal serves to strengthen CG’s position and will help us win new orders in this emerging and fast-growing geography,” said Laurent Demortier, CEO and Managing Director of Crompton Greaves.
Transpower is the owner and operator of the New Zealand national grid.
“With this agreement, CG becomes the first of three preferred vendors to supply transformers to Transpower, with the potential to scale to orders worth $15 million annually. The transformers are being manufactured in CG’s Jakarta, Indonesia, facility,” the company said in a statement.
The agreement will remain in force for five years with the possibility of two extensions of two years each.
“Our expansion to 500kV transformers for large customers in SEA built a high degree of confidence with Transpower, and led to the inking of this agreement. This deal serves to strengthen CG’s position and will help us win new orders in this emerging and fast-growing geography,” said Laurent Demortier, CEO and Managing Director of Crompton Greaves.
New strategy for promoting farm mechanisation during 12th Five Year Plan
New Delhi: Ministry of Agriculture is promoting a new strategy for farm mechanization through its various schemes and programmes. A dedicated Sub-Mission on Agricultural Mechanization has been proposed for the XIIth Plan which includes custom-hiring facilities for agricultural machinery as one of its major components. The Sub-Mission aims at catalyzing an accelerated but inclusive growth of agricultural mechanization in India. Its focus is on increasing the reach of farm mechanization to small and marginal farmers and to the regions where availability of farm power is low.
Custom hiring of farm machinery envisages promoting establishment of farm machinery banks for custom hiring by way of providing financial assistance to individual self-help groups or farmers’ co-operatives since the prohibitive cost of hi-tech and high productive equipments renders it difficult for individual ownership..
The other major components included in the Sub-Mission, apart from custom hiring facilities for agricultural machinery are promotion and strengthening of agricultural mechanisation through training, testing and demonstration; post-harvest technology and management (PHTM); financial assistance or procurement subsidy for agriculture machinery and equipments; establishment of farm machinery banks for custom hiring; enhancing hi-tech, high productive equipment hub for custom hiring; enhancing farm productivity at village level by introducing appropriate farm mechanisation in selected villages; and creating ownership of appropriate farm equipments among small/marginal farmers in eastern/north eastern region.
Custom hiring of farm machinery envisages promoting establishment of farm machinery banks for custom hiring by way of providing financial assistance to individual self-help groups or farmers’ co-operatives since the prohibitive cost of hi-tech and high productive equipments renders it difficult for individual ownership..
The other major components included in the Sub-Mission, apart from custom hiring facilities for agricultural machinery are promotion and strengthening of agricultural mechanisation through training, testing and demonstration; post-harvest technology and management (PHTM); financial assistance or procurement subsidy for agriculture machinery and equipments; establishment of farm machinery banks for custom hiring; enhancing hi-tech, high productive equipment hub for custom hiring; enhancing farm productivity at village level by introducing appropriate farm mechanisation in selected villages; and creating ownership of appropriate farm equipments among small/marginal farmers in eastern/north eastern region.
Monday, February 4, 2013
Infinity to set up Education City in Bhutan
Kolkata: Kolkata-based Infinity Group is set to build a Rs 4,000-crore Education City in Bhutan, and has formed a joint venture with Infrastructure Leasing & Financial Services Limited for this.
At 8,000 ft above sea level, this might well be the first project at such an elevation.
The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country’s lone airport is located. “The land acquisition is complete and the work should start in sometime. We have formed a 50:50 JV with ILFS for the same and the whole project would see an investment of around Rs 4,000 crore,” Ravindra Chamaria, group chairman, told Business Standard.
It is also in talks with the leading universities of the UK, US and Australia, who have shown interest to set up their campuses in the world's youngest democracy.
"The talks are on with these institutions at various levels with some world renowned universities. But the details are yet to be worked out to announce those names,” he said adding that the 600-year independent school of UK ?Durham School?which entered India on Thursday is likely to set up campus there.
This would be a real boost and one of the big investments to be made in Bhutan, which is leaving no stone unturned to attract foreign investment. The country has been keen to rope in investors especially after a survey was carried out by the World Bank in 2011, called the investment climate assessment not very 'investment friendly' and that access to finance was one major constraint.
The World Bank survey pointed out lack of infrastructure as a major reason for poor performance in the investments despite scoring on political stability. Bhutan's foreign direct investment flow was only $120m in 2010, according to the report.
Chamaria pointed out that the funds required for the mega project have come from internal accrual and there was no plan for private equity placement to feed the expansion needs.
At 8,000 ft above sea level, this might well be the first project at such an elevation.
The 1,000-acre project plot is placed between capital Thimphu and Paro, where the country’s lone airport is located. “The land acquisition is complete and the work should start in sometime. We have formed a 50:50 JV with ILFS for the same and the whole project would see an investment of around Rs 4,000 crore,” Ravindra Chamaria, group chairman, told Business Standard.
It is also in talks with the leading universities of the UK, US and Australia, who have shown interest to set up their campuses in the world's youngest democracy.
"The talks are on with these institutions at various levels with some world renowned universities. But the details are yet to be worked out to announce those names,” he said adding that the 600-year independent school of UK ?Durham School?which entered India on Thursday is likely to set up campus there.
This would be a real boost and one of the big investments to be made in Bhutan, which is leaving no stone unturned to attract foreign investment. The country has been keen to rope in investors especially after a survey was carried out by the World Bank in 2011, called the investment climate assessment not very 'investment friendly' and that access to finance was one major constraint.
The World Bank survey pointed out lack of infrastructure as a major reason for poor performance in the investments despite scoring on political stability. Bhutan's foreign direct investment flow was only $120m in 2010, according to the report.
Chamaria pointed out that the funds required for the mega project have come from internal accrual and there was no plan for private equity placement to feed the expansion needs.
Six corridors identified for high-speed rail project: Pawan Bansal
New Delhi: The government has identified six corridors for developing high-speed rail transit systems and is working on a pilot project between Mumbai and Ahmedabad, railways minister Pawan Kumar Bansal said on Friday.
The minister said that a project steering group is assessing options for the pilot project and viable financial models need to be evolved.
"High speed trains that run up to 350 km/hr are an aspiration. One route has been chosen but it is hard to say when it will be done... We have to work on the models and state governments must be our partners," Bansal said.
The minister said public private partnerships could be explored for such projects, but added that no private firm would participate in such projects for 'altruistic purposes' so returns on their investment must be ensured. Railway Board chairman Vinay Mittal however, expressed caution over private participation.
"Countries who have introduced high speed operation have done it mainly with public funding. Some experiments with private funding have taken place but they have not been successful because of high costs, long gestation period," he said.
The minister said that a project steering group is assessing options for the pilot project and viable financial models need to be evolved.
"High speed trains that run up to 350 km/hr are an aspiration. One route has been chosen but it is hard to say when it will be done... We have to work on the models and state governments must be our partners," Bansal said.
The minister said public private partnerships could be explored for such projects, but added that no private firm would participate in such projects for 'altruistic purposes' so returns on their investment must be ensured. Railway Board chairman Vinay Mittal however, expressed caution over private participation.
"Countries who have introduced high speed operation have done it mainly with public funding. Some experiments with private funding have taken place but they have not been successful because of high costs, long gestation period," he said.
Krishna Institute of Medical Sciences performs scar-less robotic thyroid surgery
Hyderabad: Krishna Institute of Medical Sciences (KIMS) has performed a scar-less robotic Thyroidectomy, using the Da Vinci robotic surgery and high definition laparoscopic systems.
The procedure was demonstrated to a group of senior surgeons from across the country at a workshop held at the KIMS Cancer institute.
“In about 18 months, our Robotic Institute conducted about 200 surgeries, making us a leading player in South India. It conducted five live workshops on robotic surgeries,” B. Bhasker Rao, Chairman and Chief Executive Officer of KIMS, said here in a press release.
On the scar-less Thyroidectomy, he said that this procedure would save patients from being left with a scar on the neck. “Swelling of thyroid and small thyroid cancers are being treated with this robotic procedure,” he said. Jagdishwar Goud of KIMS was trained by Dr Chung who had been considered to be the first robotic thyroid surgeon in the World in Seoul.
The hospital is also performing robotic surgeries on oesophageal cancers and lung cancers, using 3 mm and 5 mm instruments. “This facilitates reduced complications, faster recovery and faster return to work with,” he said.
The procedure was demonstrated to a group of senior surgeons from across the country at a workshop held at the KIMS Cancer institute.
“In about 18 months, our Robotic Institute conducted about 200 surgeries, making us a leading player in South India. It conducted five live workshops on robotic surgeries,” B. Bhasker Rao, Chairman and Chief Executive Officer of KIMS, said here in a press release.
On the scar-less Thyroidectomy, he said that this procedure would save patients from being left with a scar on the neck. “Swelling of thyroid and small thyroid cancers are being treated with this robotic procedure,” he said. Jagdishwar Goud of KIMS was trained by Dr Chung who had been considered to be the first robotic thyroid surgeon in the World in Seoul.
The hospital is also performing robotic surgeries on oesophageal cancers and lung cancers, using 3 mm and 5 mm instruments. “This facilitates reduced complications, faster recovery and faster return to work with,” he said.
RBI to set up committee to help boost bank finance for exports
Mumbai: The Reserve Bank of India has decided to set up a technical working group to iron out existing issues and boost bank finance for exports.
The group will be led by G. Padmanabhan, Executive Director, RBI, and also involve key agencies such as the Export Import Bank of India, Export Credit Guarantee Corporation, Federation of Indian Export Organisations, Fixed Income, Money Market and Derivatives Association, Indian Banks’ Association.
Addressing media persons at the third quarter monetary policy review on January 29, Governor, D. Subbarao said, “I believe banks are mandated to extend up to 12 per cent (of adjusted net bank credit) for exports, but the aggregate level of export finance is 5 per cent or even lower.”
Apart from the cost of financing for exports there are a number of other non-cash issues such as transaction costs, accounting norms, documentation, and procedural difficulties, the RBI said.
In June 2012 the RBI expanded the rupee export credit refinance facility to 50 per cent from 15 per cent. This was introduced to enable cheaper lending to exporters.
A couple of weeks back, the RBI also introduced the dollar-rupee swap facility of $6.5 billion, where banks could refinance the dollar loans they extend to exporters in rupees.
The group will be led by G. Padmanabhan, Executive Director, RBI, and also involve key agencies such as the Export Import Bank of India, Export Credit Guarantee Corporation, Federation of Indian Export Organisations, Fixed Income, Money Market and Derivatives Association, Indian Banks’ Association.
Addressing media persons at the third quarter monetary policy review on January 29, Governor, D. Subbarao said, “I believe banks are mandated to extend up to 12 per cent (of adjusted net bank credit) for exports, but the aggregate level of export finance is 5 per cent or even lower.”
Apart from the cost of financing for exports there are a number of other non-cash issues such as transaction costs, accounting norms, documentation, and procedural difficulties, the RBI said.
In June 2012 the RBI expanded the rupee export credit refinance facility to 50 per cent from 15 per cent. This was introduced to enable cheaper lending to exporters.
A couple of weeks back, the RBI also introduced the dollar-rupee swap facility of $6.5 billion, where banks could refinance the dollar loans they extend to exporters in rupees.
Commerce Secretary inaugurates India's Trade Portal
New Delhi: Shri S R Rao, Secretary, Department of Commerce today inaugurated the India's Trade Portal here. The Trade Portal has been developed to facilitate India's exporters in trading which may result in the expansion of trade. The Portal offers Indian exporters and importers respectively a comprehensive guidance for concluding international trade transactions successfully with a specific focus on Indian traders trading with SAARC, ASEAN and top 25 export/import destinations (as per value terms). The portal provides user-friendly access to relevant information for import and export of different products in digital form.
It provides an access to an online database of current MFN Tariff, Preferential Tariff of top 25 destinations with which India has entered into regional or bilateral agreements or variants of them, Rules of Origin ("Ro0"), Sanitary and Phytosanitary Measures ("SPS") and Technical Barriers to Trade ("TBT") requirements of various products that an Indian trader requires for ensuring successful trade transactions. The Portal provides a search criteria based on HS Code and/or product names.
The Secretary expressed that Trade Portal is a dynamic concept and invited feedbacks from the stakeholders for further development of the portal. He stated that an endeavour shall be made to expand it to other trading partners and the task of maintenance of Trade Portal will be carried out by IIFT under the overall guidance of the Department of Commerce.
The link to the Trade Portal has been provided through Department of Commerce website under 'What's New' and Useful Links'. The direct link to the website is http://trade.iift.ac.in/.
It provides an access to an online database of current MFN Tariff, Preferential Tariff of top 25 destinations with which India has entered into regional or bilateral agreements or variants of them, Rules of Origin ("Ro0"), Sanitary and Phytosanitary Measures ("SPS") and Technical Barriers to Trade ("TBT") requirements of various products that an Indian trader requires for ensuring successful trade transactions. The Portal provides a search criteria based on HS Code and/or product names.
The Secretary expressed that Trade Portal is a dynamic concept and invited feedbacks from the stakeholders for further development of the portal. He stated that an endeavour shall be made to expand it to other trading partners and the task of maintenance of Trade Portal will be carried out by IIFT under the overall guidance of the Department of Commerce.
The link to the Trade Portal has been provided through Department of Commerce website under 'What's New' and Useful Links'. The direct link to the website is http://trade.iift.ac.in/.
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