Mumbai: The Reserve Bank of India on Tuesday said Navratna Public Sector Undertakings — ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) — will be allowed to make overseas investments in the incorporated Joint Ventures/Wholly Owned Subsidiaries in the oil sector.
These investments for exploration and drilling for oil and natural gas by the Navratna PSUs, duly approved by the Government of India, will be without any limits under the automatic route, the RBI said in a notification.
So far, OVL and OIL were allowed to invest in overseas unincorporated entities in oil sector (for exploration and drilling for oil and natural gas), which are duly approved by the Government of India, without any limits under the automatic route.
Separate legal entity
An incorporated organisation is a separate legal entity from the people owning it. The board members do not normally have personal financial responsibility for contracts and debts incurred.
In the case of an unincorporated organisation, the owners/partners are personally liable for any debts or claims against the organisation.
Success in my Habit
Thursday, April 25, 2013
Integrated textile parks to generate 10 lakh jobs
New Delhi: The 61 textile parks approved under the Scheme for Integrated Textile Parks (SITP) are expected to generate over 10 lakh jobs. These parks will have total estimated investment of Rs 27,562 crore.
Commerce, Industry and Textiles Minister Anand Sharma launched 21 new Textile Parks on Tuesday. With these the total number parks go up to 61.
This scheme has been instrumental in development of wide range of models for greenfield clusters, including 1,000-acre FDI driven integrated clusters, 100-acre powerloom clusters and 20-acre handloom clusters.
Of the 61 parks sanctioned – 40 projects were started in the 11th Plan and another 21 projects are to be implemented in the 12th Plan.
Out of the 40 parks sanctioned earlier, 25 are operational. The others are expected to be completed during this financial year.
State break-up
Out of 21 new parks, six are in Maharashtra, four in Rajasthan, two each in Andhra Pradesh and Tamil Nadu and one each in Uttar Pradesh, West Bengal, Tripura, Karnataka, Gujarat, Himachal Pradesh and Jammu & Kashmir.
In this year’s Budget speech, the Finance Minister announced an additional amount of up to Rs 10 crore per park for setting up apparel manufacturing units for the projects under the SITP.
Commerce, Industry and Textiles Minister Anand Sharma launched 21 new Textile Parks on Tuesday. With these the total number parks go up to 61.
This scheme has been instrumental in development of wide range of models for greenfield clusters, including 1,000-acre FDI driven integrated clusters, 100-acre powerloom clusters and 20-acre handloom clusters.
Of the 61 parks sanctioned – 40 projects were started in the 11th Plan and another 21 projects are to be implemented in the 12th Plan.
Out of the 40 parks sanctioned earlier, 25 are operational. The others are expected to be completed during this financial year.
State break-up
Out of 21 new parks, six are in Maharashtra, four in Rajasthan, two each in Andhra Pradesh and Tamil Nadu and one each in Uttar Pradesh, West Bengal, Tripura, Karnataka, Gujarat, Himachal Pradesh and Jammu & Kashmir.
In this year’s Budget speech, the Finance Minister announced an additional amount of up to Rs 10 crore per park for setting up apparel manufacturing units for the projects under the SITP.
Indian economy is expected to grow at 6.4 per cent during 2013-14: PMEAC
New Delhi: The improvement in performance of agriculture and manufacturing sectors is expected to boost the economic growth rate to 6.4 per cent in 2013-14 from 5 per cent during 2012-13, according to Prime Minister’s Economic Advisory Panel.
"Economy will grow at higher rate from now. We projected growth rate of 6.4% in the current fiscal", said Mr C Rangarajan, Chairman, Prime Minister's Economic Advisory Council (PMEAC), during the release the Economic Review for 2012-13.
The improvement in the growth rate in the current fiscal, will be on the back of better performance of agriculture, industry and services sectors, he added.
The agriculture sector is expected to grow at 3.5 per cent in 2013-14 as compared to 1.8 per cent during previous fiscal. The industry and services sectors are expected to grow at 4.9 per cent (3.1 per cent in 2012-13) and 7.7 per cent (6.6 per cent in 2012-13) respectively.
The policy and administrative actions such as the recently constituted Cabinet Committee on Investment can help overcome obstacles in the speedy execution of projects. The existing rates of investment should enable us to grow at 7.5 per cent to 8 per cent over the short term, a return to higher levels of savings and investment can take India back to the very high levels of growth, said Mr Rangarajan.
If India grows at 8 per cent-9 per cent per annum, "we will graduate to the level of a middle income country by 2025," he added.
The PMEAC has projected higher inbound foreign direct investment (FDI) at US$ 36 billion during 2013-14. The net FDI inflow in 2012-13 was US$ 18 billion (US$ 26 billion inbound and US$ 8 billion outbound). Outbound FDI is also expected to increase, resulting in net FDI inflow of US$ 24 billion in 2013-14, highlighted the PMEAC.
The action taken by the Government of India to speed up project clearances since September would be visible in the current fiscal, said Mr Rangarajan.
The Government of India will have to maintain an attractive return in financial assets for bringing down the demand of gold. The price and subsidy reforms in petroleum products is also needed to be completed to control oil import bill, he added.
"Non-food manufacturing inflation remains around the comfort zone. As inflation comes down, it will create more space for monetary policy to support growth," he said.
"Economy will grow at higher rate from now. We projected growth rate of 6.4% in the current fiscal", said Mr C Rangarajan, Chairman, Prime Minister's Economic Advisory Council (PMEAC), during the release the Economic Review for 2012-13.
The improvement in the growth rate in the current fiscal, will be on the back of better performance of agriculture, industry and services sectors, he added.
The agriculture sector is expected to grow at 3.5 per cent in 2013-14 as compared to 1.8 per cent during previous fiscal. The industry and services sectors are expected to grow at 4.9 per cent (3.1 per cent in 2012-13) and 7.7 per cent (6.6 per cent in 2012-13) respectively.
The policy and administrative actions such as the recently constituted Cabinet Committee on Investment can help overcome obstacles in the speedy execution of projects. The existing rates of investment should enable us to grow at 7.5 per cent to 8 per cent over the short term, a return to higher levels of savings and investment can take India back to the very high levels of growth, said Mr Rangarajan.
If India grows at 8 per cent-9 per cent per annum, "we will graduate to the level of a middle income country by 2025," he added.
The PMEAC has projected higher inbound foreign direct investment (FDI) at US$ 36 billion during 2013-14. The net FDI inflow in 2012-13 was US$ 18 billion (US$ 26 billion inbound and US$ 8 billion outbound). Outbound FDI is also expected to increase, resulting in net FDI inflow of US$ 24 billion in 2013-14, highlighted the PMEAC.
The action taken by the Government of India to speed up project clearances since September would be visible in the current fiscal, said Mr Rangarajan.
The Government of India will have to maintain an attractive return in financial assets for bringing down the demand of gold. The price and subsidy reforms in petroleum products is also needed to be completed to control oil import bill, he added.
"Non-food manufacturing inflation remains around the comfort zone. As inflation comes down, it will create more space for monetary policy to support growth," he said.
India, Norway to set up think-tank on biodiversity
Chennai: The National Biodiversity Authority and Norway Government’s Division of Nature Management will set up a Centre for Biodiversity Policy and Law.
Addressing media persons after signing the agreement that provides for the Norwegian Government’s support to setting up the Centre here in Chennai, the Biodiversity Authority’s Chairman P. Balakrishna, said the Centre is a pioneering initiative in addressing biodiversity related policies and issues.
The Biodiversity Authority set up under a Central law, the Biological Diversity Act 2002, for conservation and management of the diverse forms of life and to act as a regulator to prevent over exploitation, will work with its Norwegian counterpart, the Division of Nature Management, to shape policies and laws to manage global biodiversity.
Biodiversity is key to life and livelihood, whether for healthcare, agriculture, food or any other industry the diverse life forms are a valuable resource.
A fungus was the source of the first antibiotic to be discovered, penicillin; high yielding, disease resistant crop varieties, wood for making paper, medicines from plants… all of these benefit humans thanks to the diverse life forms in nature.
India is in the process of revising its National Biodiversity Action Plan to make it more responsive to present day needs. The action plan is expected to be ready by the middle of next year.
The Centre will work towards bringing biodiversity issues to the mainstream of debate and informed decision making, Balakrishna said.
Addressing media persons after signing the agreement that provides for the Norwegian Government’s support to setting up the Centre here in Chennai, the Biodiversity Authority’s Chairman P. Balakrishna, said the Centre is a pioneering initiative in addressing biodiversity related policies and issues.
The Biodiversity Authority set up under a Central law, the Biological Diversity Act 2002, for conservation and management of the diverse forms of life and to act as a regulator to prevent over exploitation, will work with its Norwegian counterpart, the Division of Nature Management, to shape policies and laws to manage global biodiversity.
Biodiversity is key to life and livelihood, whether for healthcare, agriculture, food or any other industry the diverse life forms are a valuable resource.
A fungus was the source of the first antibiotic to be discovered, penicillin; high yielding, disease resistant crop varieties, wood for making paper, medicines from plants… all of these benefit humans thanks to the diverse life forms in nature.
India is in the process of revising its National Biodiversity Action Plan to make it more responsive to present day needs. The action plan is expected to be ready by the middle of next year.
The Centre will work towards bringing biodiversity issues to the mainstream of debate and informed decision making, Balakrishna said.
Monday, April 22, 2013
KidZania Mumbai gears up for soft launch
Mumbai: Mexican edutainment theme park brand KidZania is set to see the soft launch of its property here in June. Its Indian franchisee, ImagiNation Edutainment India, in which Bollywood actor Shah Rukh Khan owns 26 per cent stake, has entered into a partnership with Birla Sun Life Insurance for an employment centre at the park.
KidZania offers a variety of activities to suit multiple interests of children. The facility has various establishments with specific role-playing activities that kids can take up as jobs. Viraj Jit Singh, chief marketing officer of ImagiNation Edutainment told Business Standard the construction of the property, to come up in the R City Mall in Mumbai, was in the last stages. It would be soft-launched in mid-June. “We are in the final stage before the launch; recruitments are on and so are talks with advertisers for partnerships.”
Birla Sun Life Insurance is the company’s fourth partner. YES Bank, Central and Big Bazaar have already come on board. The Birla Sun Life Insurance employment centre establishment would provide career development guidance and assistance to kids looking for role-playing opportunities at KidZania. Supervisors would help children identify their aptitude and make their first résumé, based on their interests.
Ajay Kakar, chief marketing officer (financial services), Aditya Birla Group, said, “At Birla Sun Life Insurance, we recognise the fact that today, children have many career options to choose from and so, it becomes difficult for them to recognise their real passion. KidZania gives the children an opportunity to explore and experience many career options in a fun way. We support this platform because it helps children and parents recognise their real passion and talent.”
Singh said ImagiNation Edutainment was looking at 10-15 partners; this would rise to 40 in 12-15 months. “We have 60 establishments, which provide about 75 activities. Right now, we are looking at 10-15 partners and once the concept picks up, more would join,” he said.
Children would be handed a report card at the end of their experience at KidZania and this would mention the activities they were involved in. Through the résumé and the report card, the Birla Sun Life Insurance employment centre would act as a facilitator for parents to discover and support their children.
“As a brand, we are in a space to win hearts, and what better way to win hearts of parents than to bring a smile on their kid’s face,” said Kakar. Birla Sun Life Insurance also has a microsite designed to help those looking for information related to any career avenue across diverse fields of interest.
KidZania Mumbai, being built at a cost of Rs 100 crore, expects to recover 30-35 per cent of the cost from partners and 60-70 per cent from tickets.
KidZania offers a variety of activities to suit multiple interests of children. The facility has various establishments with specific role-playing activities that kids can take up as jobs. Viraj Jit Singh, chief marketing officer of ImagiNation Edutainment told Business Standard the construction of the property, to come up in the R City Mall in Mumbai, was in the last stages. It would be soft-launched in mid-June. “We are in the final stage before the launch; recruitments are on and so are talks with advertisers for partnerships.”
Birla Sun Life Insurance is the company’s fourth partner. YES Bank, Central and Big Bazaar have already come on board. The Birla Sun Life Insurance employment centre establishment would provide career development guidance and assistance to kids looking for role-playing opportunities at KidZania. Supervisors would help children identify their aptitude and make their first résumé, based on their interests.
Ajay Kakar, chief marketing officer (financial services), Aditya Birla Group, said, “At Birla Sun Life Insurance, we recognise the fact that today, children have many career options to choose from and so, it becomes difficult for them to recognise their real passion. KidZania gives the children an opportunity to explore and experience many career options in a fun way. We support this platform because it helps children and parents recognise their real passion and talent.”
Singh said ImagiNation Edutainment was looking at 10-15 partners; this would rise to 40 in 12-15 months. “We have 60 establishments, which provide about 75 activities. Right now, we are looking at 10-15 partners and once the concept picks up, more would join,” he said.
Children would be handed a report card at the end of their experience at KidZania and this would mention the activities they were involved in. Through the résumé and the report card, the Birla Sun Life Insurance employment centre would act as a facilitator for parents to discover and support their children.
“As a brand, we are in a space to win hearts, and what better way to win hearts of parents than to bring a smile on their kid’s face,” said Kakar. Birla Sun Life Insurance also has a microsite designed to help those looking for information related to any career avenue across diverse fields of interest.
KidZania Mumbai, being built at a cost of Rs 100 crore, expects to recover 30-35 per cent of the cost from partners and 60-70 per cent from tickets.
KidZania Mumbai gears up for soft launch
Mumbai: Mexican edutainment theme park brand KidZania is set to see the soft launch of its property here in June. Its Indian franchisee, ImagiNation Edutainment India, in which Bollywood actor Shah Rukh Khan owns 26 per cent stake, has entered into a partnership with Birla Sun Life Insurance for an employment centre at the park.
KidZania offers a variety of activities to suit multiple interests of children. The facility has various establishments with specific role-playing activities that kids can take up as jobs. Viraj Jit Singh, chief marketing officer of ImagiNation Edutainment told Business Standard the construction of the property, to come up in the R City Mall in Mumbai, was in the last stages. It would be soft-launched in mid-June. “We are in the final stage before the launch; recruitments are on and so are talks with advertisers for partnerships.”
Birla Sun Life Insurance is the company’s fourth partner. YES Bank, Central and Big Bazaar have already come on board. The Birla Sun Life Insurance employment centre establishment would provide career development guidance and assistance to kids looking for role-playing opportunities at KidZania. Supervisors would help children identify their aptitude and make their first résumé, based on their interests.
Ajay Kakar, chief marketing officer (financial services), Aditya Birla Group, said, “At Birla Sun Life Insurance, we recognise the fact that today, children have many career options to choose from and so, it becomes difficult for them to recognise their real passion. KidZania gives the children an opportunity to explore and experience many career options in a fun way. We support this platform because it helps children and parents recognise their real passion and talent.”
Singh said ImagiNation Edutainment was looking at 10-15 partners; this would rise to 40 in 12-15 months. “We have 60 establishments, which provide about 75 activities. Right now, we are looking at 10-15 partners and once the concept picks up, more would join,” he said.
Children would be handed a report card at the end of their experience at KidZania and this would mention the activities they were involved in. Through the résumé and the report card, the Birla Sun Life Insurance employment centre would act as a facilitator for parents to discover and support their children.
“As a brand, we are in a space to win hearts, and what better way to win hearts of parents than to bring a smile on their kid’s face,” said Kakar. Birla Sun Life Insurance also has a microsite designed to help those looking for information related to any career avenue across diverse fields of interest.
KidZania Mumbai, being built at a cost of Rs 100 crore, expects to recover 30-35 per cent of the cost from partners and 60-70 per cent from tickets.
KidZania offers a variety of activities to suit multiple interests of children. The facility has various establishments with specific role-playing activities that kids can take up as jobs. Viraj Jit Singh, chief marketing officer of ImagiNation Edutainment told Business Standard the construction of the property, to come up in the R City Mall in Mumbai, was in the last stages. It would be soft-launched in mid-June. “We are in the final stage before the launch; recruitments are on and so are talks with advertisers for partnerships.”
Birla Sun Life Insurance is the company’s fourth partner. YES Bank, Central and Big Bazaar have already come on board. The Birla Sun Life Insurance employment centre establishment would provide career development guidance and assistance to kids looking for role-playing opportunities at KidZania. Supervisors would help children identify their aptitude and make their first résumé, based on their interests.
Ajay Kakar, chief marketing officer (financial services), Aditya Birla Group, said, “At Birla Sun Life Insurance, we recognise the fact that today, children have many career options to choose from and so, it becomes difficult for them to recognise their real passion. KidZania gives the children an opportunity to explore and experience many career options in a fun way. We support this platform because it helps children and parents recognise their real passion and talent.”
Singh said ImagiNation Edutainment was looking at 10-15 partners; this would rise to 40 in 12-15 months. “We have 60 establishments, which provide about 75 activities. Right now, we are looking at 10-15 partners and once the concept picks up, more would join,” he said.
Children would be handed a report card at the end of their experience at KidZania and this would mention the activities they were involved in. Through the résumé and the report card, the Birla Sun Life Insurance employment centre would act as a facilitator for parents to discover and support their children.
“As a brand, we are in a space to win hearts, and what better way to win hearts of parents than to bring a smile on their kid’s face,” said Kakar. Birla Sun Life Insurance also has a microsite designed to help those looking for information related to any career avenue across diverse fields of interest.
KidZania Mumbai, being built at a cost of Rs 100 crore, expects to recover 30-35 per cent of the cost from partners and 60-70 per cent from tickets.
Adventz Group to invest Rs 4,000 cr in urea plant in Gulf
Kolkata: After acquiring a 10 per cent stake in UB Group's Mangalore Chemicals & Fertilizers recently, Adventz Group chairman Saroj Poddar is now set to invest Rs 4,000 crore in Gulf region's Ras al Khaimah for a urea plant.
The pre feasibility study was going on and a detailed project report (DPR) was underway, Poddar said.
“Once the DPR is final the group will approach banks for financing. We already have the land,” he said.
The plant is expected to have an annual capacity of around 1.5 million tonne, but it will be finalized after the final DPR is ready.The new Fertilizer Policy 2012 has also several enabling provisions to encourage investment in the urea fertilizer arena.
Poddar, who is at the helm of the $ 3 billion Adventz Group, said the agro chemical and fertiliser business contributed the major chunk of its total revenue and this vertical would remain the priority in coming years.
“Over 75 per cent of our revenues come from this business and this will be critical to our growth as a group so we will allot most importance in this business,” he said. Zuari Industries is the flagship company of the group which looks after the fertiliser business. Poddar pointed out that Rs 100 crore had been invested in the Goa unit while Rs 500 crore has been pumped into the Paradip outfit recently.
Owing to volatile prices of raw material in the global market the fertiliser industry had seen poor growth in the last fiscal. “Volatile prices, weak rupee and such issues had made a strong impact on the industry. We too were not out of this, but now prices have stabilized and hopefully this year would be better than last one,” he said.
The group also has other business verticals like infrastructure, services and emerging lifestyle.
Texmaco Rail & Engineering is another company, according to Poddar, which will play a significant role in the companies growth map. The company has started work in Sodepur unit and around Rs 100 crore have been invested already.
“We are the biggest private rail wagon builder and have invested in excess of Rs 100 crore in the Sodepur property. First Rail coaches (in middle of current financial year) and then metro coaches will be built there,” he added.
Ruling out reports of a stake sale in the wagon building business by the promoters, Poddar said, “It is true that railways order inflow has been dry for quite some time but we are committed to this business.”
Speaking of his proposed food park project in West Bengal the chairman said the ball was now in the state government's court and as company he had done everything that was required. “It has been there for quite sometime now. I have met everybody but I am yet to get any response from them. The project is still alive and we will move forward once state gives any further direction,” added Poddar.
The pre feasibility study was going on and a detailed project report (DPR) was underway, Poddar said.
“Once the DPR is final the group will approach banks for financing. We already have the land,” he said.
The plant is expected to have an annual capacity of around 1.5 million tonne, but it will be finalized after the final DPR is ready.The new Fertilizer Policy 2012 has also several enabling provisions to encourage investment in the urea fertilizer arena.
Poddar, who is at the helm of the $ 3 billion Adventz Group, said the agro chemical and fertiliser business contributed the major chunk of its total revenue and this vertical would remain the priority in coming years.
“Over 75 per cent of our revenues come from this business and this will be critical to our growth as a group so we will allot most importance in this business,” he said. Zuari Industries is the flagship company of the group which looks after the fertiliser business. Poddar pointed out that Rs 100 crore had been invested in the Goa unit while Rs 500 crore has been pumped into the Paradip outfit recently.
Owing to volatile prices of raw material in the global market the fertiliser industry had seen poor growth in the last fiscal. “Volatile prices, weak rupee and such issues had made a strong impact on the industry. We too were not out of this, but now prices have stabilized and hopefully this year would be better than last one,” he said.
The group also has other business verticals like infrastructure, services and emerging lifestyle.
Texmaco Rail & Engineering is another company, according to Poddar, which will play a significant role in the companies growth map. The company has started work in Sodepur unit and around Rs 100 crore have been invested already.
“We are the biggest private rail wagon builder and have invested in excess of Rs 100 crore in the Sodepur property. First Rail coaches (in middle of current financial year) and then metro coaches will be built there,” he added.
Ruling out reports of a stake sale in the wagon building business by the promoters, Poddar said, “It is true that railways order inflow has been dry for quite some time but we are committed to this business.”
Speaking of his proposed food park project in West Bengal the chairman said the ball was now in the state government's court and as company he had done everything that was required. “It has been there for quite sometime now. I have met everybody but I am yet to get any response from them. The project is still alive and we will move forward once state gives any further direction,” added Poddar.
Apollo Tyres sets up unit in Thailand to tap Asean markets
Kolkata: After Europe and West Asia, Apollo Tyres is expanding its market reach in Asean (Association for South East Asian Nations). The Rs 12,000-crore group will open its outfit in Bangkok on May 2 to spearhead sales in the free trade region.
The trade block includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
The company is already exporting tyres from India to Indonesia, Thailand and Philippines. However, due to their voluminous nature, exports are not considered a viable option for tyre sector to gain market share overseas. So Apollo is nurturing a plan to set up manufacturing base in the region. “We have hired a team of 20 under the Bangkok-based subsidiary. We may follow it up with a manufacturing base in the region after two years (depending on viability),” Satish Sharma, Chief, India operations, told Business Line.
While the subsidiary will primarily explore market opportunities in the auto-hub in Thailand, Apollo is also bullish on demand for cross ply (BIAS) truck tyres, especially off-the-road tyres (OTR), used in Indonesia’s booming coal mining industry.
“A senior technical person has been hired to understand the cross-ply market potential in Indonesia,” Sharma said.
Foray in Australia
The company is making steady progress in establishing its distribution footprint in theAustralian market.
“We have already appointed a CEO and a couple of professionals to develop the Australian business, directly under the Indian operations,” the official said.
The job is not easy but, Apollo is confident that its European connections will be of major help in gaining confidence of Australian buyers.
Having acquired the Netherlands-based Vredestein in 2009, the company has launched its home grown brands in the European market. As a follow-up initiative, Apollo had set up its global research and development centre in Europe.
Fresh launches in India
As a result of this, Apollo’s fresh launches, even in the Indian market, are now developed and tested abroad.
“We will launch three passenger vehicle tyres in standard (Amazer 4G), high performance (Apollo Alnac 4G) and ultra-high performance (Aspire 4G) categories for the Indian market, next week. And, two of the products — targeting sedans and luxury cars — are already selling in the European markets,” Sharma said.
The trade block includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
The company is already exporting tyres from India to Indonesia, Thailand and Philippines. However, due to their voluminous nature, exports are not considered a viable option for tyre sector to gain market share overseas. So Apollo is nurturing a plan to set up manufacturing base in the region. “We have hired a team of 20 under the Bangkok-based subsidiary. We may follow it up with a manufacturing base in the region after two years (depending on viability),” Satish Sharma, Chief, India operations, told Business Line.
While the subsidiary will primarily explore market opportunities in the auto-hub in Thailand, Apollo is also bullish on demand for cross ply (BIAS) truck tyres, especially off-the-road tyres (OTR), used in Indonesia’s booming coal mining industry.
“A senior technical person has been hired to understand the cross-ply market potential in Indonesia,” Sharma said.
Foray in Australia
The company is making steady progress in establishing its distribution footprint in theAustralian market.
“We have already appointed a CEO and a couple of professionals to develop the Australian business, directly under the Indian operations,” the official said.
The job is not easy but, Apollo is confident that its European connections will be of major help in gaining confidence of Australian buyers.
Having acquired the Netherlands-based Vredestein in 2009, the company has launched its home grown brands in the European market. As a follow-up initiative, Apollo had set up its global research and development centre in Europe.
Fresh launches in India
As a result of this, Apollo’s fresh launches, even in the Indian market, are now developed and tested abroad.
“We will launch three passenger vehicle tyres in standard (Amazer 4G), high performance (Apollo Alnac 4G) and ultra-high performance (Aspire 4G) categories for the Indian market, next week. And, two of the products — targeting sedans and luxury cars — are already selling in the European markets,” Sharma said.
Holland extends help to produce crop protection solutions
Bangalore: Koppert, a Dutch company specialising in biological crop protection, has partnered with Namdhari Fresh to develop crop protection suitable to Indian conditions.
The main aim of the partnership is to meet the global standards on pesticide residue and minimise the impact of pesticides on people. To achieve this, a demonstration plot on Namdhari’s land in Bidadi near Bangalore has been set up to develop crop protection solutions under protected (polyhouse) conditions.
“The project is being supported by Dutch government through the public-private partnership through its FoodtechHolland,” Arie Veldhuizen, Agriculture Attaché, Royal Dutch Embassy, told Business Line.
“The relevance of this project is linked to India promoting integrated pest management and greenhouse cultivation to improve productivity and quality of the fresh produce, thereby to drive higher export volumes,” he added.
Gets authorisation
As part of the project, Koppert India has been granted authorisation for five biological beneficial to combat the most common pests, including thrips, spider mite and aphids, in vegetable and ornamental crops.
“Adopting biological crop protection has several benefits.
“It is a small market at present but it is growing. This system has social benefit, which is more than commercial,” explained Uday Singh, Managing Director, Namdhari group.
Koppert is experimenting on Indian soil the application of Spical (Neoseiulus californicus), Spidex (Phytoseiulus persimilis), Swirski-Mite (Amblyseius swirskii), Aphipar (Aphidius colemani), and Thripor-L (Orius laevigatus).
‘Huge demand’
“We see there is a huge demand for natural and biological solutions in India and the market in which the majority of the population is vegetarian,” said Robert Pathuis Director, Koppert.
“We are exploring a number of States around Karnataka — such as Tamil Nadu, Kerala and Maharashtra — to offer biological crop protection systems,” he added.
According to Wouter van Vliet, Managing Director, Larive, the agency assisting companies with doing business in emerging markets, “This initiative is a follow-up on the Memorandum of Understanding signed by the Indo-Dutch Joint Agriculture working group between India and the Netherlands signed on May 24, 2012.”
“The MoU addresses knowledge transfer in horticultural practice and the project aims to contribute directly to India’s export of fresh produce and polyhouse cultivation,” he added.
The main aim of the partnership is to meet the global standards on pesticide residue and minimise the impact of pesticides on people. To achieve this, a demonstration plot on Namdhari’s land in Bidadi near Bangalore has been set up to develop crop protection solutions under protected (polyhouse) conditions.
“The project is being supported by Dutch government through the public-private partnership through its FoodtechHolland,” Arie Veldhuizen, Agriculture Attaché, Royal Dutch Embassy, told Business Line.
“The relevance of this project is linked to India promoting integrated pest management and greenhouse cultivation to improve productivity and quality of the fresh produce, thereby to drive higher export volumes,” he added.
Gets authorisation
As part of the project, Koppert India has been granted authorisation for five biological beneficial to combat the most common pests, including thrips, spider mite and aphids, in vegetable and ornamental crops.
“Adopting biological crop protection has several benefits.
“It is a small market at present but it is growing. This system has social benefit, which is more than commercial,” explained Uday Singh, Managing Director, Namdhari group.
Koppert is experimenting on Indian soil the application of Spical (Neoseiulus californicus), Spidex (Phytoseiulus persimilis), Swirski-Mite (Amblyseius swirskii), Aphipar (Aphidius colemani), and Thripor-L (Orius laevigatus).
‘Huge demand’
“We see there is a huge demand for natural and biological solutions in India and the market in which the majority of the population is vegetarian,” said Robert Pathuis Director, Koppert.
“We are exploring a number of States around Karnataka — such as Tamil Nadu, Kerala and Maharashtra — to offer biological crop protection systems,” he added.
According to Wouter van Vliet, Managing Director, Larive, the agency assisting companies with doing business in emerging markets, “This initiative is a follow-up on the Memorandum of Understanding signed by the Indo-Dutch Joint Agriculture working group between India and the Netherlands signed on May 24, 2012.”
“The MoU addresses knowledge transfer in horticultural practice and the project aims to contribute directly to India’s export of fresh produce and polyhouse cultivation,” he added.
New SEZ norms to help real estate and IT sector, say experts
Mumbai: The government's move to do away with the mandatory requirement of 10 hectares of minimum land area for setting up an information technology/IT-enabled services special economic zone is likely to prove a major boon for the real estate and IT sector.
On Thursday, the government announced the minimum built-up area requirements to be met by SEZ developers will be 100,000 square meters for the seven major cities, 50,000 square meters for Category B cities and only 25,000 square meters for the remaining cities.
"Some IT SEZ developers who have already met the 100,000 square meter built-up area criteria will now convert the balance land for residential use, giving the mixed-use edge while also making the formation of many more walk-to-work residential projects possible," says Ramesh Nair, Managing Director - West, Jones Lang LaSalle India.
Real estate developers will now be able to divide up their land holdings and allocate smaller parts to IT companies to construct their own IT SEZs.
With new announcements, it will now become easier to exit from SEZs given that transfer of ownership of SEZ units - including sale - has now been allowed. Moreover, Real Estate Private Equity Funds with foreign capital will now be able to do smaller deals, and this is bound to bring in more FDI into the sector, Nair says.
According to experts, with these amendments many more IT companies will be able to launch their own SEZs as against only large IT companies managing to do so due to capital required to buy minimum 25 acres.
National Association of Software and Service Companies (NASSCOM) also welcomed the annual supplement to the Foreign Trade Policy aimed at enhancing exports and easing export procedures.
Large mandatory land requirements made it difficult for small companies to take advantage of the SEZ policy. Waiving away land requirement and reducing minimum built up area will now make it feasible for IT SEZs to come up in Tier II/Tier III locations. These changes are likely to make the SEZ policy more inclusive by attracting SMEs to consider their options, NASSCOM said in a release.
"We are delighted that the government recognizes IT exports as a key growth driver for India's exports and the SEZ scheme. Removing the minimum land requirement and reducing the built up area will enable the SEZ scheme to realise its true potential," said Som Mittal, president, NASSCOM.
On Thursday, the government announced the minimum built-up area requirements to be met by SEZ developers will be 100,000 square meters for the seven major cities, 50,000 square meters for Category B cities and only 25,000 square meters for the remaining cities.
"Some IT SEZ developers who have already met the 100,000 square meter built-up area criteria will now convert the balance land for residential use, giving the mixed-use edge while also making the formation of many more walk-to-work residential projects possible," says Ramesh Nair, Managing Director - West, Jones Lang LaSalle India.
Real estate developers will now be able to divide up their land holdings and allocate smaller parts to IT companies to construct their own IT SEZs.
With new announcements, it will now become easier to exit from SEZs given that transfer of ownership of SEZ units - including sale - has now been allowed. Moreover, Real Estate Private Equity Funds with foreign capital will now be able to do smaller deals, and this is bound to bring in more FDI into the sector, Nair says.
According to experts, with these amendments many more IT companies will be able to launch their own SEZs as against only large IT companies managing to do so due to capital required to buy minimum 25 acres.
National Association of Software and Service Companies (NASSCOM) also welcomed the annual supplement to the Foreign Trade Policy aimed at enhancing exports and easing export procedures.
Large mandatory land requirements made it difficult for small companies to take advantage of the SEZ policy. Waiving away land requirement and reducing minimum built up area will now make it feasible for IT SEZs to come up in Tier II/Tier III locations. These changes are likely to make the SEZ policy more inclusive by attracting SMEs to consider their options, NASSCOM said in a release.
"We are delighted that the government recognizes IT exports as a key growth driver for India's exports and the SEZ scheme. Removing the minimum land requirement and reducing the built up area will enable the SEZ scheme to realise its true potential," said Som Mittal, president, NASSCOM.
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