New Delhi: The Union Minister for Commerce & Industry Shri Anand Sharma has asserted that India remains one of the top destinations for Foreign Direct Investment, despite the economic slowdown. Speaking at a Students’ Interactive Session at Sophia College in Mumbai today, Shri Sharma said India’s Foreign Direct Investment policy has been progressively liberalized to make the regime more investor friendly. He said in a recent review of the policy the government has amended the sectoral caps in some key areas to stimulate FDI inflow. Between 2009-13, India attracted FDI worth US $ 172.82 billion, despite growing competition from emerging economies like Brazil, Indonesia, Vietnam etc.
Responding to a student’s question about India’s poor ranking on the ‘ease of doing business’ parameter, Shri Sharma admitted that red tape continued to be a cause of concern, but added that sincere efforts were being made to create a conducive business environment. He said, his Ministry has recently launched the e-Biz portal, which allows potential entrepreneurs to complete most of the formalities online, like submitting forms, making payments, among others. They can also track the status of their requests through the portal. Shri Sharma said that two of the key organizations crucial for clearance of projects – Ministry of Environment & Forests and Central Board of Customs & Excise are yet to come on board, but expressed confidence that he would convince them to join in soon.
The Minister also said the National Manufacturing Policy seeks to address the menace of red tape by introducing accountability to ensure timely clearance of proposals. Shri Sharma said India’s current economic growth is not commensurate with its potential and the country has capacity to grow faster. He said that India is looking to create as many as 100 million skilled jobs in the manufacturing sector by raising its share of GDP to 25 per cent from 16 per cent. “We have to create jobs through industrialization and boosting manufacturing. The dedicated Delhi-Mumbai Industrial Corridor and the Chennai-Bangalore – Mumbai industrial corridor will create specialized manufacturing centres, with single window service to expand our industrial base,” he added.
The Commerce & Industry Minister also defended the FDI in retail policy of the government, stating that its benefits can be reaped by farmers as well as small and medium enterprises. “If a retail chain sources its farm products from hinterland or creates cold storage facility, it will be the farmer in the villages who will benefit directly” he added. He reiterated that entry of organized retailer will not put the corner grocery stores out of business.
Shri Sharma also said that India’s young population is an important asset. “By 2035, when the developed world will be saddled with ageing population, India, and not China, would be the country that would provide skilled manpower to the world” he added. Shri Sharma called upon the young students to cultivate a positive mindset and notice the developments that have taken place in India.
The Minister in his address also touched upon various global and domestic issues including the emergence of a multi-polar world, importance of preserving democratic tradition, protecting cultural unity of India and above all the importance of education in building a strong nation.
Noted industrialist Adi Godrej in his remarks called for early introduction of GST to rationalize tax regime and boost productivity.
More than 150 students of Sofia College for Women participated in the Minister’s Interactive Session, “Emerging India in a Globalized World: The Imperatives of Change”, organized by CII.
Success in my Habit
Wednesday, February 12, 2014
India and Netherlands sign MoU, agree to enhance cooperation in renewable energy
New Delhi: The Minister of New and Renewable Energy, Dr. Farooq Abdullah, today gave the green light to intensifying cooperation between India and the Netherlands on renewable energy. The Minister presided over a ceremony where the Dutch Ambassador Alphonsus Stoelinga and the Secretary of the Ministry of New and Renewable Energy, Dr. Satish Balram Agnihotri, signed a Memorandum of Understanding (MoU). Under this agreement, an Indo Dutch Joint Working Group will be set up and the exchange of technical and institutional knowledge on clean energy will be facilitated.
Speaking on the occasion, Dr. Abdullah welcomed the decision of both the governments to enhance their cooperation in the Renewable Energy sector and hoped that the signing of the Memorandum would be a just the beginning of a symbiotic and mutually beneficial wave of cooperation in the clean energy sector. The Dutch Ambassador emphasized that both their countries have similar ambitions and face similar challenges in realizing clean energy options in the respective countries. He hoped that the MoU would encourage cooperation not only at the official and governmental levels but also between leading Indian and Dutch private companies and research institutions. A number of private companies including DSM, Thermax India and PwC were also present on the occasion.
Dr. Abdullah also spoke about the energy situation in India and the rapid growth of the renewable energy sector in India. He spoke of India’s plans to add over 30 GW of renewable energy to its energy mix in the next 5 years. He dwelt on the success of the wind programme as well as the significant cost reductions in solar energy through the JawaharlalNehru National Solar Mission (JNNSM). He also highlighted India’s conducive and investor friendly policy framework for promoting renewable energy in a big way. Dr. Abdullah suggested that India and Netherlands had great potential for enhancing cooperation in promoting renewable energy and offered to provide all possible assistance for the purpose.
Speaking on the occasion, Dr. Abdullah welcomed the decision of both the governments to enhance their cooperation in the Renewable Energy sector and hoped that the signing of the Memorandum would be a just the beginning of a symbiotic and mutually beneficial wave of cooperation in the clean energy sector. The Dutch Ambassador emphasized that both their countries have similar ambitions and face similar challenges in realizing clean energy options in the respective countries. He hoped that the MoU would encourage cooperation not only at the official and governmental levels but also between leading Indian and Dutch private companies and research institutions. A number of private companies including DSM, Thermax India and PwC were also present on the occasion.
Dr. Abdullah also spoke about the energy situation in India and the rapid growth of the renewable energy sector in India. He spoke of India’s plans to add over 30 GW of renewable energy to its energy mix in the next 5 years. He dwelt on the success of the wind programme as well as the significant cost reductions in solar energy through the JawaharlalNehru National Solar Mission (JNNSM). He also highlighted India’s conducive and investor friendly policy framework for promoting renewable energy in a big way. Dr. Abdullah suggested that India and Netherlands had great potential for enhancing cooperation in promoting renewable energy and offered to provide all possible assistance for the purpose.
Pune's Guardian Corpn forays into media, entertainment biz
Pune: Guardian Corporation has made a foray into media and entertainment businesses with the establishment of Guardian Media and Entertainment.
The Pune-based group also has a presence in real estate, retail, lifestyle sport, and travel and tourism business segments.
“It’s been over two decades since India became a part of the global economy, but we still lack good entertainment destinations. We want to contribute in filling this gap by offering the design and development services for amusement parks, theme parks and museums,” Manish Sabade, Chairman, Guardian Corporation said.
Guardian has executed projects worth Rs20 crore in India and abroad, while those worth Rs150 crore are at various stages of development, he added. The projects operational include a 3-acre theme park at Sajjangad near Satara on the life of saint Ramdas Swami that gives an insight into his life through the use of multimedia, sound, light, and theatre.
The company has also created real-size replicas of some caves of Ajanta at nearby Fardapur village for tourists who are unable to see the Ajanta caves as only a few are allowed inside the caves after their declaration as a World Heritage Site.
It is now setting up a Dinosaur Park, India’s first giant screen theatre, and one of country’s largest indoor theme parks with over 23 attractions.
The Pune-based group also has a presence in real estate, retail, lifestyle sport, and travel and tourism business segments.
“It’s been over two decades since India became a part of the global economy, but we still lack good entertainment destinations. We want to contribute in filling this gap by offering the design and development services for amusement parks, theme parks and museums,” Manish Sabade, Chairman, Guardian Corporation said.
Guardian has executed projects worth Rs20 crore in India and abroad, while those worth Rs150 crore are at various stages of development, he added. The projects operational include a 3-acre theme park at Sajjangad near Satara on the life of saint Ramdas Swami that gives an insight into his life through the use of multimedia, sound, light, and theatre.
The company has also created real-size replicas of some caves of Ajanta at nearby Fardapur village for tourists who are unable to see the Ajanta caves as only a few are allowed inside the caves after their declaration as a World Heritage Site.
It is now setting up a Dinosaur Park, India’s first giant screen theatre, and one of country’s largest indoor theme parks with over 23 attractions.
Ms. Margaret Hamburg, Commissioner, US FDA meets Union Health Minister Sh Ghulam Nabi Azad
New Delhi: The Union Minister for Health, Shri Ghulam Nabi Azad met Ms. Margaret Hamburg, M.D., Commissioner of Food and Drugs, USA, here today. A Statement of Intent on Cooperation in the Field of Medical Products was signed between the Food and Drugs Administration, USA and the Ministry of Health and Family Welfare, India.
Speaking at the occasion, Shri Ghulam Nabi Azad said that India Pharma industry is growing at a fast pace in terms of volume. He stated that India exports medicines to about 210 countries and vaccines to about 150 countries in the world. These medicines while being affordable are as effective as drugs manufactured in the developing countries, he mentioned. He further said that being affordable should not mean that they are ‘cheap and spurious’. Efficacy of the Indian drugs should not be judged on the basis of their cost as the input cost in India is much less than that in the developing countries due to the less expensive human resources, the Health Minister stated. The Health Minister further stated that developing countries such as India who have a growing pharma industry should be allowed to grow.
The Minister highlighted that India has taken several measures to strengthen the regulatory mechanisms in terms of capacity building, strengthening laboratories and bringing enhanced transparency through its laws and legislations. He stated that stringent punishment up to life imprisonment is prescribed for those involved in manufacturing or selling of spurious drugs. Special courts have been set up for speedy trails of those involved in such crimes. Moreover, 16 out of 28 states in country have special courts for speedy trials, he said. The Indian government has also framed rules for compensation due to death in clinical trials, he said.
He said that the Statement of Intent between the two countries will go a long way in enhanced cooperation between the two countries in framing and strengthening frameworks for transparency and capacity building through seminars, workshops etc.
Ms. Margaret Hamburg, M.D., Commissioner of Food and Drugs, USA congratulated India for its success in polio eradication. She commended India’s leadership and powerful presence in the Pharma industry. She said that India is the second largest exporter of drugs to USA, and has a significant contribution in medical equipments and devices. But there is huge expectation and dependence of public on the regulator to ensure the quality of what the people consume through drugs and food, and also whether there are barriers being created to new opportunities, Ms. Hamburg stated. While she stated that quality regulation can go a long way in strengthening the robustness of the clinical industries, she also noted that India has made very serious commitment to strengthen regulatory framework to enhance transparency. India and USA need to be effective partners and work on transparency, she further added, as there are common goals and aspirations and both are world leaders in the field of medicines. There should be common set of standards so that people have quality, safe and efficacious drugs, she noted. She said that the Statement of Intent will enhance the transparency in the field of medicine.
The focus of the Statement of Intent between the two countries, signed today is
Sharing of information relevant to lack of compliance with accepted current good manufacturing practices, good clinical practices, or good laboratory practices, as appropriate, by manufactures and sponsors of medical products and manufacturers of cosmetics, in one another’s country, or any other information as mutually decided upon.
Engaging collaboratively as observers in medical and cosmetic product and inspections conducted by the other country as per specific terms to be agreed and as time and resources allow.
Informing the respective regulatory authorities before undertaking inspections, so that host-country inspectors may join inspections as observers.
Collaborating in relevant scientific meetings, symposia, seminars, and other appropriate venues that may be organized either in the United States of America or the Republic of India.
Facilitating each other’s holding (in persons or by teleconference) periodic discussions, possibly once every three (3) months, to report and assess progress on current collaborations and implementation of this Statement of Intent, to address concerns and resolve issues leading to strengthening and improving the bilateral relationship, and to identify new areas for collaboration.
Facilitating information-sharing between the two countries as appropriate and allowable by law, in support of public health and product safety, quality, and effectiveness, as appropriate.
Present at the occasion were Shri Keshav Desiraju, Secretary Health and Family Welfare, Shri C.K. Mishra, Additional Secretary, Dr G N Singh, DCGI and Ms Nancy Powell, US Ambassador to India and other higher officials from India and USA.
Speaking at the occasion, Shri Ghulam Nabi Azad said that India Pharma industry is growing at a fast pace in terms of volume. He stated that India exports medicines to about 210 countries and vaccines to about 150 countries in the world. These medicines while being affordable are as effective as drugs manufactured in the developing countries, he mentioned. He further said that being affordable should not mean that they are ‘cheap and spurious’. Efficacy of the Indian drugs should not be judged on the basis of their cost as the input cost in India is much less than that in the developing countries due to the less expensive human resources, the Health Minister stated. The Health Minister further stated that developing countries such as India who have a growing pharma industry should be allowed to grow.
The Minister highlighted that India has taken several measures to strengthen the regulatory mechanisms in terms of capacity building, strengthening laboratories and bringing enhanced transparency through its laws and legislations. He stated that stringent punishment up to life imprisonment is prescribed for those involved in manufacturing or selling of spurious drugs. Special courts have been set up for speedy trails of those involved in such crimes. Moreover, 16 out of 28 states in country have special courts for speedy trials, he said. The Indian government has also framed rules for compensation due to death in clinical trials, he said.
He said that the Statement of Intent between the two countries will go a long way in enhanced cooperation between the two countries in framing and strengthening frameworks for transparency and capacity building through seminars, workshops etc.
Ms. Margaret Hamburg, M.D., Commissioner of Food and Drugs, USA congratulated India for its success in polio eradication. She commended India’s leadership and powerful presence in the Pharma industry. She said that India is the second largest exporter of drugs to USA, and has a significant contribution in medical equipments and devices. But there is huge expectation and dependence of public on the regulator to ensure the quality of what the people consume through drugs and food, and also whether there are barriers being created to new opportunities, Ms. Hamburg stated. While she stated that quality regulation can go a long way in strengthening the robustness of the clinical industries, she also noted that India has made very serious commitment to strengthen regulatory framework to enhance transparency. India and USA need to be effective partners and work on transparency, she further added, as there are common goals and aspirations and both are world leaders in the field of medicines. There should be common set of standards so that people have quality, safe and efficacious drugs, she noted. She said that the Statement of Intent will enhance the transparency in the field of medicine.
The focus of the Statement of Intent between the two countries, signed today is
Sharing of information relevant to lack of compliance with accepted current good manufacturing practices, good clinical practices, or good laboratory practices, as appropriate, by manufactures and sponsors of medical products and manufacturers of cosmetics, in one another’s country, or any other information as mutually decided upon.
Engaging collaboratively as observers in medical and cosmetic product and inspections conducted by the other country as per specific terms to be agreed and as time and resources allow.
Informing the respective regulatory authorities before undertaking inspections, so that host-country inspectors may join inspections as observers.
Collaborating in relevant scientific meetings, symposia, seminars, and other appropriate venues that may be organized either in the United States of America or the Republic of India.
Facilitating each other’s holding (in persons or by teleconference) periodic discussions, possibly once every three (3) months, to report and assess progress on current collaborations and implementation of this Statement of Intent, to address concerns and resolve issues leading to strengthening and improving the bilateral relationship, and to identify new areas for collaboration.
Facilitating information-sharing between the two countries as appropriate and allowable by law, in support of public health and product safety, quality, and effectiveness, as appropriate.
Present at the occasion were Shri Keshav Desiraju, Secretary Health and Family Welfare, Shri C.K. Mishra, Additional Secretary, Dr G N Singh, DCGI and Ms Nancy Powell, US Ambassador to India and other higher officials from India and USA.
Govt allots 1,972 acres of salt pans for industrial parks
Chennai: The Centre’s Salt Commissionerate, Government of India, has allotted 1,972 acres of salt pans to various public sector companies in Tamil Nadu to put up industrial parks.
The NTPC Tamil Nadu Energy Company Ltd (NTECL), a joint venture between NTPC Ltd and Tamil Nadu Electricity Board has been allotted 1,000 acres, Ennore Port Ltd (764 acres), HPCL (108 acres) and BPCL (100 acres), said EM Sudharsana Natchiappan, Minister of State for Commerce and Industry.
For instance, the allotted salt lands will be used to develop the Chennai-Bangalore Industrial Corridor, he said addressing the ‘India Salt Conclave 2014’, organised by the Confederation of Indian Industry (CII) in association with Salt Commissionerate and Indian Salt Manufacturers Association.
Modernisation
The Minister urged the industry to modernise salt production to global standards. The industry should think of value addition , creation of supply chain and warehouses, and facilities in the port for scientific storage of salt for exports, he said.
Natchiappan also urged the industry to harness solar power. “We can seek support from public sector banks and the Ministry of New and Renewable Energy,” he said.
Shubra Singh, Joint Secretary, Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry, said the Centre plans to introduce an insurance scheme for the welfare of around one lakh salt workers to offer standard health facilities.
Indian salt industry produced about 25 million tonnes (mt) of salt. Of this 6 mt was edible salt, 12 mt for industrial purpose and 5 mt was for export.
Out of the 6 lakh acres of salt land, only 60,000 acres or 10 per cent belongs to the Salt Commissionerate in six States, including Gujarat and Tamil Nadu. With nearly 90 per cent of salt production being done by the private sector, they have a greater responsibility to modernise and do value-addition, she said.
MA Ansari, Salt Commissioner, said there was urgent need to improve the quality of salt to the international standards and improve the productivity per acre of land as land is limited. Nearly 95 per cent of the salt industry was in the small-scale industry.
PV Rajendran, Chairman, Joint Action committee, Salt Manufacturers Association, said salt producing regions such as Vedaranyam in Tamil Nadu lacked basic infrastructure facilities, including logistics support for the transportation of salt.
The NTPC Tamil Nadu Energy Company Ltd (NTECL), a joint venture between NTPC Ltd and Tamil Nadu Electricity Board has been allotted 1,000 acres, Ennore Port Ltd (764 acres), HPCL (108 acres) and BPCL (100 acres), said EM Sudharsana Natchiappan, Minister of State for Commerce and Industry.
For instance, the allotted salt lands will be used to develop the Chennai-Bangalore Industrial Corridor, he said addressing the ‘India Salt Conclave 2014’, organised by the Confederation of Indian Industry (CII) in association with Salt Commissionerate and Indian Salt Manufacturers Association.
Modernisation
The Minister urged the industry to modernise salt production to global standards. The industry should think of value addition , creation of supply chain and warehouses, and facilities in the port for scientific storage of salt for exports, he said.
Natchiappan also urged the industry to harness solar power. “We can seek support from public sector banks and the Ministry of New and Renewable Energy,” he said.
Shubra Singh, Joint Secretary, Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry, said the Centre plans to introduce an insurance scheme for the welfare of around one lakh salt workers to offer standard health facilities.
Indian salt industry produced about 25 million tonnes (mt) of salt. Of this 6 mt was edible salt, 12 mt for industrial purpose and 5 mt was for export.
Out of the 6 lakh acres of salt land, only 60,000 acres or 10 per cent belongs to the Salt Commissionerate in six States, including Gujarat and Tamil Nadu. With nearly 90 per cent of salt production being done by the private sector, they have a greater responsibility to modernise and do value-addition, she said.
MA Ansari, Salt Commissioner, said there was urgent need to improve the quality of salt to the international standards and improve the productivity per acre of land as land is limited. Nearly 95 per cent of the salt industry was in the small-scale industry.
PV Rajendran, Chairman, Joint Action committee, Salt Manufacturers Association, said salt producing regions such as Vedaranyam in Tamil Nadu lacked basic infrastructure facilities, including logistics support for the transportation of salt.
India, China may soon start producing films jointly
New Delhi: he co-production agreement was first discussed between the two countries during a visit by a Chinese delegation led by Cai Fuchao, the Chinese Minister of State Administration of Press, Publication, Radio, Film and Television in June last year.
India has signed co-production treaties with several countries so far, including France, Germany, Brazil, the United Kingdom, Italy, New Zealand, Poland and Spain, among others.
Negotiations are on with Australia and Canada. Japan, Turkey, Korea and Belarus have also shown interest in entering into co-production deals with India.
Talks with stakeholders
The Information and Broadcasting Ministry Secretary Bimal Julka is currently attending the Berlin Film Festival and is leading a delegation to promote India as a viable filming destination. The Ministry in a statement said Julka has had discussions with stakeholders representing various countries.
He said India’s co-production agreements were unique as they offered multiple benefits to foreign film producers and helped them harness the strengths India’s technically qualified manpower.
The Ministry has been working on a single-window clearance mechanism for prospective international film producers looking for permission to shoot in the country.
It has also released an India Film Guide at the festival, giving an overview about India’s film’s policies and is an effort to brand the identity of the Indian film industry and commemorate the celebration of 100 years of Indian cinema.
India has signed co-production treaties with several countries so far, including France, Germany, Brazil, the United Kingdom, Italy, New Zealand, Poland and Spain, among others.
Negotiations are on with Australia and Canada. Japan, Turkey, Korea and Belarus have also shown interest in entering into co-production deals with India.
Talks with stakeholders
The Information and Broadcasting Ministry Secretary Bimal Julka is currently attending the Berlin Film Festival and is leading a delegation to promote India as a viable filming destination. The Ministry in a statement said Julka has had discussions with stakeholders representing various countries.
He said India’s co-production agreements were unique as they offered multiple benefits to foreign film producers and helped them harness the strengths India’s technically qualified manpower.
The Ministry has been working on a single-window clearance mechanism for prospective international film producers looking for permission to shoot in the country.
It has also released an India Film Guide at the festival, giving an overview about India’s film’s policies and is an effort to brand the identity of the Indian film industry and commemorate the celebration of 100 years of Indian cinema.
Tuesday, February 11, 2014
Volkswagen to set up Rs 1,500-cr plant in India
Mahesh Kodumudi, president and managing director of Volkswagen India and head of Volkswagen Group Sales India, said, “We have not launched a new product lately but that should not be construed as our lack of interest in the Indian market. We were consolidating our operations and are now ready for our next phase of expansion. We will be investing around Rs 1,500 crore roughly over the next five-six years.”
The resources would partially be utilised to set up a diesel engine manufacturing unit. The company is examining possibilities to set up the facility, a final decision on which would be taken over the next few months.
Expansion
Besides, the engine manufacturing unit, the company is looking at expanding capacity to 200,000 units at its Chakan facility from 130,000 units currently.
“Our target to gain eight-10 per cent share in the passenger vehicle market may get delayed because of the uncertain political and economic conditions. But we do intend to be a volume player. We have to play in the compact SUV segment, sub-four-metre sedan segment, multi-purpose vehicle category and if possible go down to a segment where small car UP can compete. We are studying various options for product interventions,” added Kodumudi. The first of the new set of products from Volkswagen is expected to hit the market by 2016.
The engine plant in India will help the carmaker reduce costs and expand sales volumes by competing more aggressively with established players such as Maruti Suzuki and Hyundai. The petrol and diesel engines of VW are mostly imported from group facilities from South Africa, Czech Republic and Germany.
The company has to pay import (basic customs) duties on fully-assembled engines. Since the orders have to be made much beforehand (lead time for production and shipping), it additionally reduces flexibility in manufacturing.
Cost savings are important for being price competitive in the mass segment. The group's volume models made at Chakan include the Volkswagen Polo and Vento, Skoda Fabia and Rapid.
Kodumodi said, “One of the factors that delayed the launch of small car UP in India is -- we have to get the price-cost equation right. We were consolidating operations and adding depth to localisation programmes to be more competitive.”
Apart from Volkswagen, two wheeler maker Honda Motorcycle & Scooter India announced plans to invest Rs 1,100 crore to set up a new plant in Gujarat in its fourth facility in the state.
The new units will become operational in the second half of 2015. Besides, Japanese automobile maker Isuzu Motors also announced an investment of Rs 3,000 crore.
The company plans to set up a manufacturing facility, spanning over 107 acres, in Chennai. The proposed plant is expected to be operational by early 2016 and will create 2,000-3,000 direct jobs.
Thomas Cook, Sterling merge to create India's biggest holiday firm
"The merger aims at building a holiday behemoth which will take holidays to a larger population," said Ramesh Ramanathan, MD, Sterling Holidays.
ET reported on February 4 that Thomas Cook was in advanced talks to take over Sterling. The merger deal, which values Chennai-based Sterling at Rs 870 crore, will be completed through a multi-stage process. Under the merger terms, for every 100 shares that they hold in Sterling, shareholders of Sterling will receive 120 shares of Thomas Cook.
The merger process will start with Thomas Cook India Ltd (TCIL) making a preferential allotment to Sterling for Rs 187 crore. TCIL will, then, buy shares from other shareholders, including Bay Capital and ace investors Rakesh Jhunjhunwala, Radhakrishna Damani, for Rs 176 crore. The company will, then, make a mandatory open offer for Rs 230 crore. Sterling will be merged into a wholly-owned arm of Thomas Cook.
The total value of the merged entity will be equivalent to Rs 3000 crore. "Sterling will have an independent management team led by Mr Ramanathan. We will operate at arm's length, but we will certainly explore synergies which can bring in savings," said Madhavan Menon, MD, Thomas Cook.
"We anticipate M&As in travel and interest would be in clean platforms with strong travel teams and also those having invested in technology to enhance client retention and service," said Ajoy Lodha, partner, investment bank, Singhi Advisors.
Everest Spices plans to set up processing units in Zanzibar
He was addressing the media on the occasion of the visit of President of Zanzibar, AM Shein, to the company headquarters.
Zanzibar is an archipelago in the Indian Ocean and a semi-autonomous region of Tanzania.
Spices such as cloves, nutmeg and cinnamon produced on the islands are traded globally.
Exports
Using Zanzibar as a base, Everest will export its products to the African market.
Shah said his company has entered into a memorandum of understanding with the Zanzibar Government for setting up the production units. It could take three years to get the production online, as the site and viability studies are still underway.
Products from the units would be made for African cuisine but some Indian spices such as chillies could also be added to the final product for enhanced flavour, he said.
Port
He said Zanzibar being close to Tanzanian ports will also help in reaching the market across the continent.
Shein said Zanzibar is making additional efforts to increase production of agriculture products such as rice and spices, which will help companies such as Everest.
Modern technology in agriculture is also a top priority for the Government and therefore talks are also underway with automobile companies such as Mahindra and Mahindra.
Using Zanzibar as a base, Everest will export its products to the African market
New Zealand announces new education initiatives
Mumbai: New Zealand has announced a string of new initiatives to further deepen its education relationship with India.
A joint call for research proposals for Indian and New Zealand academics has been made to increase research collaboration across a range of areas including food security and agriculture, community development and innovation, health, environment and sustainability, India-New Zealand trade relations, information security and urban planning and development.
Announced on the occasion of Waitangi Day, New Zealand’s national day, by Education New Zealand’s (ENZ) Regional Director South Asia Ziena Jalil, the programme acknowledges the multi-faceted education relationship between India and New Zealand.
In 2012, there were 11,349 Indian students studying in New Zealand, an increase of 194 per cent from 2007. Hindi is the fourth most widely spoken language in New Zealand.
“This call for proposals has been jointly facilitated by ENZ and India’s University Grants Commission (UGC) and would form part of the activity we undertake in India as part of the India New Zealand Education Council (INZEC) initiative which was announced by both our Prime Ministers,” Jalil said.
Stating that all New Zealand universities feature in the top 500 globally, she added that the call for research proposals is a deliberate attempt at sharing experiences with Indian partners.
A joint call for research proposals for Indian and New Zealand academics has been made to increase research collaboration across a range of areas including food security and agriculture, community development and innovation, health, environment and sustainability, India-New Zealand trade relations, information security and urban planning and development.
Announced on the occasion of Waitangi Day, New Zealand’s national day, by Education New Zealand’s (ENZ) Regional Director South Asia Ziena Jalil, the programme acknowledges the multi-faceted education relationship between India and New Zealand.
In 2012, there were 11,349 Indian students studying in New Zealand, an increase of 194 per cent from 2007. Hindi is the fourth most widely spoken language in New Zealand.
“This call for proposals has been jointly facilitated by ENZ and India’s University Grants Commission (UGC) and would form part of the activity we undertake in India as part of the India New Zealand Education Council (INZEC) initiative which was announced by both our Prime Ministers,” Jalil said.
Stating that all New Zealand universities feature in the top 500 globally, she added that the call for research proposals is a deliberate attempt at sharing experiences with Indian partners.
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