Kochi: The market regulator SEBI has approved the Startup Village angel fund to the tune of $10 million that could go up to $20 million with a ‘Green Shoe’ (over-allotment) option.
The approval for the angel fund, which would address the problem of resource crunch for start-up companies across the country, came from SEBI through a notification issued on April 23.
The focus area of the fund will be Telecom/ Internet, and it would start investing once the initial close of $2 million is achieved.
KPMG is the Advisor and ILFS is Trustee of the fund.
Sanjay Vijayakumar, Chairman, Startup Village, said the angel fund would be investing not only in the most promising start-ups located in Startup Village but also in similar enterprises across the country.
“We are looking to broad-base the investor profile with a large set of angel investors, many of whom might be first time angel investors in India,” he said. He said that the fund would be investing in the early stage category. It would invest between $20,000 and $2,50,000 into start-ups. For higher amounts, the fund would co-invest with other early stage funds.
Focus on entrepreneur
As the fund is investing at a very early stage, we would be focusing more on the entrepreneur and the team and less on the idea. A smart entrepreneur is what the fund would back, he said.
The need to create the fund was felt as the angel investment ecosystem in India is still maturing, and for the vision of Startup Village to have a 1,000 product start-ups by 2020.
With over 750 applications from start-ups in the last 12 months, Startup Village is blazing ahead in the incubation landscape in India. The 1,00,000-square feet building is under construction which would make the village the largest Internet-Telecom Incubator in the world, he said.
Success in my Habit
Wednesday, May 8, 2013
Escorts to launch heavy duty tractors from 2015
New Delhi: Escorts Ltd, one of the oldest manufacturers of agriculture and infrastructure equipment, has said the company will focus on premium tractors. To start with, it plans to launch a premium tractor in 2015.
Code named IVR3, this would be one of its kind tractor, which the company says will be an agriculture-solution with a mix of software technology and machineries. This will be a heavy duty tractor with 55 brake horse-power and above.
“In the last two-three years, lot of work has happened on what kind of technology we can bring in around the crop that we sow and seeds which have been growing across the country,” Nikhil Nanda, Joint Managing Director, Escorts, told Business Line.
The company is in talks with around 12-15 global companies (mostly from the European region) for technology collaborations. There are a few pilot projects or experiments already going on with some of these companies in southern India and the results have been good, he said.
“We are talking about solutions for the whole agriculture means – from the time of sowing the seeds to harvest – end-to-end solutions in terms of bringing the value to the farmers,” Nanda said.
Premium products
For example, he said, there are such technologies in Korea where if there is a need of 100 litres of water to irrigate a field, such machines are making it possible to use only 20 litres of water. Therefore, such technologies would help Indian farmers, especially in drought-hit areas or where there is scarcity of water for irrigation.
However, these premium tractors would be expensive than what are available in the market today, he said adding that price has to be high because these will be high-end products just like BMWs, Audis and Ferrari’s of the cars market.
“We will not be called as a tractor manufacturing company, but an agriculture solutions company in the future with these premium products,” he said.
Escorts has more than 45 variants of tractors starting from 25 to 80 horse power. It currently sells three brands of tractors – Powertrac (priced at Rs 3.75-6.5 lakh), Farmtrac (priced at Rs 4.5-8 lakh) and Escort (in limited States) priced around Rs 3 lakh.
Code named IVR3, this would be one of its kind tractor, which the company says will be an agriculture-solution with a mix of software technology and machineries. This will be a heavy duty tractor with 55 brake horse-power and above.
“In the last two-three years, lot of work has happened on what kind of technology we can bring in around the crop that we sow and seeds which have been growing across the country,” Nikhil Nanda, Joint Managing Director, Escorts, told Business Line.
The company is in talks with around 12-15 global companies (mostly from the European region) for technology collaborations. There are a few pilot projects or experiments already going on with some of these companies in southern India and the results have been good, he said.
“We are talking about solutions for the whole agriculture means – from the time of sowing the seeds to harvest – end-to-end solutions in terms of bringing the value to the farmers,” Nanda said.
Premium products
For example, he said, there are such technologies in Korea where if there is a need of 100 litres of water to irrigate a field, such machines are making it possible to use only 20 litres of water. Therefore, such technologies would help Indian farmers, especially in drought-hit areas or where there is scarcity of water for irrigation.
However, these premium tractors would be expensive than what are available in the market today, he said adding that price has to be high because these will be high-end products just like BMWs, Audis and Ferrari’s of the cars market.
“We will not be called as a tractor manufacturing company, but an agriculture solutions company in the future with these premium products,” he said.
Escorts has more than 45 variants of tractors starting from 25 to 80 horse power. It currently sells three brands of tractors – Powertrac (priced at Rs 3.75-6.5 lakh), Farmtrac (priced at Rs 4.5-8 lakh) and Escort (in limited States) priced around Rs 3 lakh.
Wipro acquires minority stake in Opera Solutions for $30 m
Bangalore: Wipro, India’s third-largest information technology services company, has signed an agreement to acquire a minority stake in Opera Solutions, a global big data and analytics company, for about $30 million (Rs 162 crore). While the company did not disclose the stake it had acquired, those in the know said it could be less than 10 per cent.
This is Bangalore-based Wipro’s second investment in the analytics segment. In April 2012, it had acquired Australia-based Promax Application Group for A$35 million (about $36.5 million, or Rs 192 crore).
Founded in 2004 by Arnab Gupta, a former consultant with A T Kearney and McKinsey, the New Jersey-headquartered Opera Solutions is said to be one of the biggest companies in the predictive data analytics space, with revenues of about $100 million. In 2011, the company received $84 million in funding from Silver Lake Sumeru, Accel-KKR, Invus Financial Advisors, JGE Capital Management and Tola Capital.
“This strategic partnership with Opera Solutions will help us further extend our leadership in the big data analytics space, as it combines Opera Solutions’ machine learning expertise, pre-discovered predictive signals and algorithms with Wipro’s domain and technology expertise to create industry-specific big data analytics solutions,” said K R Sanjiv, senior vice-president and global head (analytics and information management), Wipro.
Arnab Gupta, chief executive of Opera Solutions, said, “Both Wipro and we see a great fit between Wipro’s ability to deliver end-to-end services and Opera Solutions’ ability to scale and industrialise big data science. And, by partnering a global organisation with a broad, blue-chip client roster, we greatly enhance our ability to capitalise on the exploding demand for big data science solutions.”
Wipro said Opera Solutions specialised in segments ranging from machine learning to big data flows to extract predictive patterns, or ‘signals’. The company offers a range of solutions that turn these signals into prescriptive actions and improve the productivity and profits of clients.
This is Bangalore-based Wipro’s second investment in the analytics segment. In April 2012, it had acquired Australia-based Promax Application Group for A$35 million (about $36.5 million, or Rs 192 crore).
Founded in 2004 by Arnab Gupta, a former consultant with A T Kearney and McKinsey, the New Jersey-headquartered Opera Solutions is said to be one of the biggest companies in the predictive data analytics space, with revenues of about $100 million. In 2011, the company received $84 million in funding from Silver Lake Sumeru, Accel-KKR, Invus Financial Advisors, JGE Capital Management and Tola Capital.
“This strategic partnership with Opera Solutions will help us further extend our leadership in the big data analytics space, as it combines Opera Solutions’ machine learning expertise, pre-discovered predictive signals and algorithms with Wipro’s domain and technology expertise to create industry-specific big data analytics solutions,” said K R Sanjiv, senior vice-president and global head (analytics and information management), Wipro.
Arnab Gupta, chief executive of Opera Solutions, said, “Both Wipro and we see a great fit between Wipro’s ability to deliver end-to-end services and Opera Solutions’ ability to scale and industrialise big data science. And, by partnering a global organisation with a broad, blue-chip client roster, we greatly enhance our ability to capitalise on the exploding demand for big data science solutions.”
Wipro said Opera Solutions specialised in segments ranging from machine learning to big data flows to extract predictive patterns, or ‘signals’. The company offers a range of solutions that turn these signals into prescriptive actions and improve the productivity and profits of clients.
Sanofi's FDI proposal among 17 cleared by Govt
New Delhi: The Centre has approved 17 proposals for foreign direct investment (FDI) worth Rs 262.56 crore, which include pharmaceutical company Sanofi’s application to invest Rs 180 crore to acquire another pharma company through internal accruals.
Other approvals include Rs 70 crore brought in by Augere Wireless Broadband (I) Pvt. Ltd to capitalise the balance amount of the spectrum fee earlier paid to the Department of Telecommunications, induction of Rs 7.65 crore by France-based Na Pali Europe SARL’s in an Indian company to carry out single brand retail trading and issuance of shares worth Rs 2.54 crore by Zap Piling India Pvt. Ltd, Chennai, on incorporation of the company.
Seven proposals were deferred which include Mylan Laboratories submission to acquire entire business of manufacturing from another existing Indian pharmaceutical company and two proposals by Muthoot Finance and Euronet Services to set up White Label ATMs.
The decisions are based on the recommendations of the Foreign Investment Promotion Board in its meeting on March 13.
Other approvals include Rs 70 crore brought in by Augere Wireless Broadband (I) Pvt. Ltd to capitalise the balance amount of the spectrum fee earlier paid to the Department of Telecommunications, induction of Rs 7.65 crore by France-based Na Pali Europe SARL’s in an Indian company to carry out single brand retail trading and issuance of shares worth Rs 2.54 crore by Zap Piling India Pvt. Ltd, Chennai, on incorporation of the company.
Seven proposals were deferred which include Mylan Laboratories submission to acquire entire business of manufacturing from another existing Indian pharmaceutical company and two proposals by Muthoot Finance and Euronet Services to set up White Label ATMs.
The decisions are based on the recommendations of the Foreign Investment Promotion Board in its meeting on March 13.
Leoni's Pune plant to make cables for renewable energy sector
Pune: Leoni, a German-based manufacturer of wires, cables and cable systems to industries, has begun manufacturing cables for the renewable energy sector at its new plant at Chakan near Pune.
The company began manufacture of standard cables for the auto industry this year and plans to install electron beam equipment by 2015 to manufacture the latest generation of cables for solar applications and high-speed trains, locomotives, trams, metros and cargo railcars.
“India promises attractive medium- and long-term growth prospects for several of our targeted industrial markets,” said Klaus Probst, President and CEO, Leoni AG. “Opening this new plant at Chakan is an essential move to better serve local customers and to drive our globalisation in India and close-by countries.” During this year, Leoni plans to invest around €11 million for the facilities and the equipment and to have about 140 employees, he added.
The new facility will make cables for critical applications in oil & gas, petrochemicals, power plants, water treatment and other process industries and Leoni plans to export a major portion of such products.
This is the company’s second production site in India.
The company began manufacture of standard cables for the auto industry this year and plans to install electron beam equipment by 2015 to manufacture the latest generation of cables for solar applications and high-speed trains, locomotives, trams, metros and cargo railcars.
“India promises attractive medium- and long-term growth prospects for several of our targeted industrial markets,” said Klaus Probst, President and CEO, Leoni AG. “Opening this new plant at Chakan is an essential move to better serve local customers and to drive our globalisation in India and close-by countries.” During this year, Leoni plans to invest around €11 million for the facilities and the equipment and to have about 140 employees, he added.
The new facility will make cables for critical applications in oil & gas, petrochemicals, power plants, water treatment and other process industries and Leoni plans to export a major portion of such products.
This is the company’s second production site in India.
First Indo-Australian jewellery conclave to be held in Sydney
Surat: As the diamantaires in the Indian diamond industry have been exploring newer diamond consumer markets in the world to lower their dependence of US, the Gems and Jewellery Export Promotion Council (GJEPC) has organized a first-ever jewellery conclave in Australia starting from May 21.
The Indo-Australia Jewellery conclave to be held at Sydney will have a select group of Indian jewellery manufacturers interacting with leading jewellery retailers and buying groups across Australia, New Zealand and Fiji islands for two days.
The conclave has been so designed to facilitate one-on-one meetings and networking opportunities giving Australia buyers a deeper insight into India's manufacturing, design prowess and supply chain.
The 12 participating jewellery manufacturers from India have been carefully selected and shortlisted by GJEPC based on their excellent capabilities to cater to specific needs of the Australian market in terms of cutting edge design, quality and service.
Vipul Shah, chairman, GJEPC said, "The conclave will provide tremendous opportunities to the Australian business groups in enabling them to obtain first-hand understanding on the advanced technology being used in India to produce finished jewellery. This will further increase trading between the two countries."
The Indo-Australia Jewellery conclave to be held at Sydney will have a select group of Indian jewellery manufacturers interacting with leading jewellery retailers and buying groups across Australia, New Zealand and Fiji islands for two days.
The conclave has been so designed to facilitate one-on-one meetings and networking opportunities giving Australia buyers a deeper insight into India's manufacturing, design prowess and supply chain.
The 12 participating jewellery manufacturers from India have been carefully selected and shortlisted by GJEPC based on their excellent capabilities to cater to specific needs of the Australian market in terms of cutting edge design, quality and service.
Vipul Shah, chairman, GJEPC said, "The conclave will provide tremendous opportunities to the Australian business groups in enabling them to obtain first-hand understanding on the advanced technology being used in India to produce finished jewellery. This will further increase trading between the two countries."
For Vodafone India, growth comes from rural markets
Mumbai: With the urban subscriber base for voice services plateauing, growth for Vodafone India is coming in from the rural parts of the country.
The GSM operator has now emerged as the largest telecom operator in rural India, by amassing a total rural subscriber base of 82.24 million (as of March 31).
This compares with that of the country’s largest telecom operator Bharti Airtel, where rural subscribers stood at 82.16 million, according to Cellular Operators’ Association of India (COAI) data.
“…we are looking at rural customers with lot more practicality than that compared with our competitors. Just because he is a rural customer does not mean that you can sell something outside of his interest area,” Vodafone India Chief Operating Officer Sunil Sood said. The company has rolled out an array of initiatives such as its Associated Distributor Vodafone Mini Stores (ADVMS) to get a foothold in the rural market. ADVMS, commonly referred in rural India as laal dukaan (red stores), are touch points managed generally by a resident of the area, such as someone from the Panchayat.
5,500 ADVMS
At present, Vodafone India — the Indian unit of British telecom major Vodafone — has about 5,500 ADVMS across the country, out of a total of 7,800 exclusive retail stores.
The GSM operator also uses satellite maps, super-imposed over census data, to allocate sites for ADVMS.
“This initiative, coupled with the usual ‘hub-and-spoke model’ (a system of links arranged similarly to that in a chariot wheel) paid dividends,” Sood added.
Moreover, Vodafone India’s association with ICICI Bank for M-pesa is also helping it make inroads into the rural sector. M-pesa, a financial inclusion initiative, has been launched in Kolkata, West Bengal, Bihar and Jharkhand, and is slated to be rolled out to other parts of the country in the next 12-18 months.
However, Bharti Airtel, continues to be the country’s leading mobile operator with it garnering a total of 188.20 million users. Vodafone India’s total user base stood at 153 million as of March 31.
“In the ‘A’ and Metro circles (urban circles), tele-density is high, reaching as high as 140-150 per cent in certain circles. This would make it difficult to add subscribers in these regions, while that in rural circles are below 50 per cent,” said Ankita Somani, Research Analyst (IT and Telecom) at Angel Broking.
“So, the next phase of growth will come in from the rural sector,” she added.
Rural is basically ‘B’ and ‘C’ circles, while ‘A’ and metros are considered urban region. Tele-density is calculated as telephones per 100 people.
“Potentially, the rural market is yet to be tapped. I won’t say these rural forays will translate into average revenue per users (ARPUs), but these are additional source of revenues, not to mention subscriber growth,” Gartner Principal Research Analyst Rishi Tejpal said, adding, this would also mean more network resources.
“If you look at our rural initiatives and tie it to our overall strategy, we can leapfrog others in this area. Can it be the next big thing for us?” Vodafone India’s Sood said, adding, “We believe so.”
The GSM operator has now emerged as the largest telecom operator in rural India, by amassing a total rural subscriber base of 82.24 million (as of March 31).
This compares with that of the country’s largest telecom operator Bharti Airtel, where rural subscribers stood at 82.16 million, according to Cellular Operators’ Association of India (COAI) data.
“…we are looking at rural customers with lot more practicality than that compared with our competitors. Just because he is a rural customer does not mean that you can sell something outside of his interest area,” Vodafone India Chief Operating Officer Sunil Sood said. The company has rolled out an array of initiatives such as its Associated Distributor Vodafone Mini Stores (ADVMS) to get a foothold in the rural market. ADVMS, commonly referred in rural India as laal dukaan (red stores), are touch points managed generally by a resident of the area, such as someone from the Panchayat.
5,500 ADVMS
At present, Vodafone India — the Indian unit of British telecom major Vodafone — has about 5,500 ADVMS across the country, out of a total of 7,800 exclusive retail stores.
The GSM operator also uses satellite maps, super-imposed over census data, to allocate sites for ADVMS.
“This initiative, coupled with the usual ‘hub-and-spoke model’ (a system of links arranged similarly to that in a chariot wheel) paid dividends,” Sood added.
Moreover, Vodafone India’s association with ICICI Bank for M-pesa is also helping it make inroads into the rural sector. M-pesa, a financial inclusion initiative, has been launched in Kolkata, West Bengal, Bihar and Jharkhand, and is slated to be rolled out to other parts of the country in the next 12-18 months.
However, Bharti Airtel, continues to be the country’s leading mobile operator with it garnering a total of 188.20 million users. Vodafone India’s total user base stood at 153 million as of March 31.
“In the ‘A’ and Metro circles (urban circles), tele-density is high, reaching as high as 140-150 per cent in certain circles. This would make it difficult to add subscribers in these regions, while that in rural circles are below 50 per cent,” said Ankita Somani, Research Analyst (IT and Telecom) at Angel Broking.
“So, the next phase of growth will come in from the rural sector,” she added.
Rural is basically ‘B’ and ‘C’ circles, while ‘A’ and metros are considered urban region. Tele-density is calculated as telephones per 100 people.
“Potentially, the rural market is yet to be tapped. I won’t say these rural forays will translate into average revenue per users (ARPUs), but these are additional source of revenues, not to mention subscriber growth,” Gartner Principal Research Analyst Rishi Tejpal said, adding, this would also mean more network resources.
“If you look at our rural initiatives and tie it to our overall strategy, we can leapfrog others in this area. Can it be the next big thing for us?” Vodafone India’s Sood said, adding, “We believe so.”
For Vodafone India, growth comes from rural markets
Mumbai: With the urban subscriber base for voice services plateauing, growth for Vodafone India is coming in from the rural parts of the country.
The GSM operator has now emerged as the largest telecom operator in rural India, by amassing a total rural subscriber base of 82.24 million (as of March 31).
This compares with that of the country’s largest telecom operator Bharti Airtel, where rural subscribers stood at 82.16 million, according to Cellular Operators’ Association of India (COAI) data.
“…we are looking at rural customers with lot more practicality than that compared with our competitors. Just because he is a rural customer does not mean that you can sell something outside of his interest area,” Vodafone India Chief Operating Officer Sunil Sood said. The company has rolled out an array of initiatives such as its Associated Distributor Vodafone Mini Stores (ADVMS) to get a foothold in the rural market. ADVMS, commonly referred in rural India as laal dukaan (red stores), are touch points managed generally by a resident of the area, such as someone from the Panchayat.
5,500 ADVMS
At present, Vodafone India — the Indian unit of British telecom major Vodafone — has about 5,500 ADVMS across the country, out of a total of 7,800 exclusive retail stores.
The GSM operator also uses satellite maps, super-imposed over census data, to allocate sites for ADVMS.
“This initiative, coupled with the usual ‘hub-and-spoke model’ (a system of links arranged similarly to that in a chariot wheel) paid dividends,” Sood added.
Moreover, Vodafone India’s association with ICICI Bank for M-pesa is also helping it make inroads into the rural sector. M-pesa, a financial inclusion initiative, has been launched in Kolkata, West Bengal, Bihar and Jharkhand, and is slated to be rolled out to other parts of the country in the next 12-18 months.
However, Bharti Airtel, continues to be the country’s leading mobile operator with it garnering a total of 188.20 million users. Vodafone India’s total user base stood at 153 million as of March 31.
“In the ‘A’ and Metro circles (urban circles), tele-density is high, reaching as high as 140-150 per cent in certain circles. This would make it difficult to add subscribers in these regions, while that in rural circles are below 50 per cent,” said Ankita Somani, Research Analyst (IT and Telecom) at Angel Broking.
“So, the next phase of growth will come in from the rural sector,” she added.
Rural is basically ‘B’ and ‘C’ circles, while ‘A’ and metros are considered urban region. Tele-density is calculated as telephones per 100 people.
“Potentially, the rural market is yet to be tapped. I won’t say these rural forays will translate into average revenue per users (ARPUs), but these are additional source of revenues, not to mention subscriber growth,” Gartner Principal Research Analyst Rishi Tejpal said, adding, this would also mean more network resources.
“If you look at our rural initiatives and tie it to our overall strategy, we can leapfrog others in this area. Can it be the next big thing for us?” Vodafone India’s Sood said, adding, “We believe so.”
The GSM operator has now emerged as the largest telecom operator in rural India, by amassing a total rural subscriber base of 82.24 million (as of March 31).
This compares with that of the country’s largest telecom operator Bharti Airtel, where rural subscribers stood at 82.16 million, according to Cellular Operators’ Association of India (COAI) data.
“…we are looking at rural customers with lot more practicality than that compared with our competitors. Just because he is a rural customer does not mean that you can sell something outside of his interest area,” Vodafone India Chief Operating Officer Sunil Sood said. The company has rolled out an array of initiatives such as its Associated Distributor Vodafone Mini Stores (ADVMS) to get a foothold in the rural market. ADVMS, commonly referred in rural India as laal dukaan (red stores), are touch points managed generally by a resident of the area, such as someone from the Panchayat.
5,500 ADVMS
At present, Vodafone India — the Indian unit of British telecom major Vodafone — has about 5,500 ADVMS across the country, out of a total of 7,800 exclusive retail stores.
The GSM operator also uses satellite maps, super-imposed over census data, to allocate sites for ADVMS.
“This initiative, coupled with the usual ‘hub-and-spoke model’ (a system of links arranged similarly to that in a chariot wheel) paid dividends,” Sood added.
Moreover, Vodafone India’s association with ICICI Bank for M-pesa is also helping it make inroads into the rural sector. M-pesa, a financial inclusion initiative, has been launched in Kolkata, West Bengal, Bihar and Jharkhand, and is slated to be rolled out to other parts of the country in the next 12-18 months.
However, Bharti Airtel, continues to be the country’s leading mobile operator with it garnering a total of 188.20 million users. Vodafone India’s total user base stood at 153 million as of March 31.
“In the ‘A’ and Metro circles (urban circles), tele-density is high, reaching as high as 140-150 per cent in certain circles. This would make it difficult to add subscribers in these regions, while that in rural circles are below 50 per cent,” said Ankita Somani, Research Analyst (IT and Telecom) at Angel Broking.
“So, the next phase of growth will come in from the rural sector,” she added.
Rural is basically ‘B’ and ‘C’ circles, while ‘A’ and metros are considered urban region. Tele-density is calculated as telephones per 100 people.
“Potentially, the rural market is yet to be tapped. I won’t say these rural forays will translate into average revenue per users (ARPUs), but these are additional source of revenues, not to mention subscriber growth,” Gartner Principal Research Analyst Rishi Tejpal said, adding, this would also mean more network resources.
“If you look at our rural initiatives and tie it to our overall strategy, we can leapfrog others in this area. Can it be the next big thing for us?” Vodafone India’s Sood said, adding, “We believe so.”
Global coffee chains take the cuppa to smaller towns
Mumbai: International coffee retailers are brewing plans to launch more outlets, especially in smaller towns and cities. Discretionary spending may be low, but coffee chains are eyeing tier- 2 and -3 cities to beat the high saturation levels and rentals in the metros.
While UK-chain Costa Coffee is gearing up to enter towns such as Ludhiana and Jalandhar in Punjab, Australia’s Di Bella Coffee recently launched a 5,000 sq. ft. outlet in Hyderabad, its largest.
“High rentals are a challenge, but that is not going to stop us from opening 40-50 stores a year and entering more cities in Punjab,” says Santhosh Unni, Managing Director, Costa Coffee. With 107 outlets, the coffee chain intends crossing 150 outlets this year, and emerging as the second largest player after CCD (Cafe Coffee Day).
Di Bella Coffee has two flagship stores measuring 3,000 sq. ft. and 5,000 sq. ft. in Hyderabad. “High rentals and saturation in cities like Mumbai has made us enter tier-2 and -3 cities, which are still not exposed to international coffee chains. There have been great sales out of Hyderabad as the city still does not have an international coffee chain. At 5,000 sq. ft., we are the largest coffee retail outlet in the country,” says Sachin Sabharwal, Managing Director, Di Bella Coffee.
No slowing down
Considering that the last quarter has been challenging for quick service restaurants, coffee chains do not believe in slowing down. “Discretionary spends have been down since the last quarter, but the boom in retail is still happening, which will offset it,” adds Sabharwal. Di Bella Coffee has ten outlets in Mumbai.
Meanwhile, CityMax Hospitality, the master franchise for Gloria Jeans Coffee, plans to open at least 15-20 stores a year. While it is present in Mumbai and Delhi as well as smaller cities such as Pune and Ahmedabad, more tier-2 city launches are on the anvil.
Much potential
As Vishal Sawhney, President, City Max Hospitality says, “Coffee retail is still a huge market and there is demand. After tier 1 cities, we need to expand more into tier-2 and -3 cities.”
Last week, Pan India Food Solutions, the master franchise for the Coffee Bean and Tea Leaf, entered Punjab with two stores in Chandigarh. “We intend opening one store every 3-4 weeks as there is demand for local area coffee formats even in smaller cities such as Chandigarh,” adds K.S. Narayanan, Chief Executive Officer, Pan India Food Solutions.
While UK-chain Costa Coffee is gearing up to enter towns such as Ludhiana and Jalandhar in Punjab, Australia’s Di Bella Coffee recently launched a 5,000 sq. ft. outlet in Hyderabad, its largest.
“High rentals are a challenge, but that is not going to stop us from opening 40-50 stores a year and entering more cities in Punjab,” says Santhosh Unni, Managing Director, Costa Coffee. With 107 outlets, the coffee chain intends crossing 150 outlets this year, and emerging as the second largest player after CCD (Cafe Coffee Day).
Di Bella Coffee has two flagship stores measuring 3,000 sq. ft. and 5,000 sq. ft. in Hyderabad. “High rentals and saturation in cities like Mumbai has made us enter tier-2 and -3 cities, which are still not exposed to international coffee chains. There have been great sales out of Hyderabad as the city still does not have an international coffee chain. At 5,000 sq. ft., we are the largest coffee retail outlet in the country,” says Sachin Sabharwal, Managing Director, Di Bella Coffee.
No slowing down
Considering that the last quarter has been challenging for quick service restaurants, coffee chains do not believe in slowing down. “Discretionary spends have been down since the last quarter, but the boom in retail is still happening, which will offset it,” adds Sabharwal. Di Bella Coffee has ten outlets in Mumbai.
Meanwhile, CityMax Hospitality, the master franchise for Gloria Jeans Coffee, plans to open at least 15-20 stores a year. While it is present in Mumbai and Delhi as well as smaller cities such as Pune and Ahmedabad, more tier-2 city launches are on the anvil.
Much potential
As Vishal Sawhney, President, City Max Hospitality says, “Coffee retail is still a huge market and there is demand. After tier 1 cities, we need to expand more into tier-2 and -3 cities.”
Last week, Pan India Food Solutions, the master franchise for the Coffee Bean and Tea Leaf, entered Punjab with two stores in Chandigarh. “We intend opening one store every 3-4 weeks as there is demand for local area coffee formats even in smaller cities such as Chandigarh,” adds K.S. Narayanan, Chief Executive Officer, Pan India Food Solutions.
Committee to devise a PPP policy with CIL setup
New Delhi: The Union Government has envisaged that one of the ways forward to reduce the dependence on imports is to devise a Public Private Partnership (PPP) policy framework with CIL as one of the partners in order to increase the production of coal for supply to power producers and other consumers. Accordingly the Ministry of Coal has set up a Committee to devise a PPP Policy framework with CIL as one of the partners in order to increase production of coal, This information was given by the Minister of State for Coal, Shri Pratik PrakashBapu Patil in a written reply in Rajya Sabha here today.
The Minister said that besides this, the Government has taken following measures to further step up domestic production which includes:
Emphasis on modernization and technology development and coal quality improvement.
Emphasis on infrastructure development.
Periodical review of development of coal blocks.
Development of some of the coal blocks assigned to CIL through engaging Mine Development & Operator (MDO).
Periodical review of on going projects.
Constant persuasion with Ministry of Railways for expeditious implementation of critical rail lines & improved supply of rakes.
Regular persuasion with the State Governments on the pending issues and law & order problems.
Regular interaction with line Ministries and State Governments for clearing Environment and Forest clearances for new projects.
The actual coal production and annual targets fixed for Coal India Limited for the last five years is as follow:
(in million tones)
Year Coal India Limited
Target Actual (%) Achievement
2008-09 405.00 403.73 99.7
2009-10 435.00 431.26 99.1
2010-11 460.50 431.32 93.7
2011-12 447.00 435.84 97.5
2012-13* 464.10 452.19 97.4
The Minister said that besides this, the Government has taken following measures to further step up domestic production which includes:
Emphasis on modernization and technology development and coal quality improvement.
Emphasis on infrastructure development.
Periodical review of development of coal blocks.
Development of some of the coal blocks assigned to CIL through engaging Mine Development & Operator (MDO).
Periodical review of on going projects.
Constant persuasion with Ministry of Railways for expeditious implementation of critical rail lines & improved supply of rakes.
Regular persuasion with the State Governments on the pending issues and law & order problems.
Regular interaction with line Ministries and State Governments for clearing Environment and Forest clearances for new projects.
The actual coal production and annual targets fixed for Coal India Limited for the last five years is as follow:
(in million tones)
Year Coal India Limited
Target Actual (%) Achievement
2008-09 405.00 403.73 99.7
2009-10 435.00 431.26 99.1
2010-11 460.50 431.32 93.7
2011-12 447.00 435.84 97.5
2012-13* 464.10 452.19 97.4
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