Chennai: Oriental Cuisines Private Ltd will open 50 outlets of its bakery brands French Loaf and Le Chocolatier by the end of this financial year, taking the total number of the outlets to about 200, a statement from the company said.
The company has started franchising its bakery brands and will expand its outlets in states where the company currently has a strong clientele and also in tier 2 cities.
"We are happy to announce OCPL's entry into the franchise model of our bakery formats - The French Loaf and Le Chocolatier. We see a rich potential in the market and expansion will help us further increase our market share. Of the 50 outlets, 10 will be company owned and the rest will be franchise run formats," said Narendra Malhotra, CEO, Oriental Cuisines.
The French Loaf is the largest bakery chain in the country. It offers premium products ranging from snacks, savouries, pastries, breads and quick snack meals at affordable prices.
Le Chocolatier, a standalone chocolate boutique, offers premium chocolates which are imported from Belgium to meet the international standards and customer expectations.
Apart from these, Oriental Cuisines owns Benjarong, Teppan, Ente Keralam, China Town, Z The Tapas Bar & Restaurant, Wang's Kitchen, Planet Yumm, Kebab House and Hotel Oriental Inn.
Success in my Habit
Monday, April 14, 2014
Ambuja Cement draws up Rs. 800-cr capex plan for ongoing projects
Mumbai: Ambuja Cement, part of the Holcim Group, plans to invest Rs. 802 crore this year in various ongoing projects. The company has proposed to fund the entire capex through internal accruals, said Ambuja Cement in its annual report. It had invested Rs. 725 crore last year.
The company had announced a significant cement capacity addition of 4.50 million tonnes (mt) last year. It proposed to set up an integrated greenfield cement plant of 1.5 mt a year with 2.17 mt a year clinker facility at Marwar Mundwa, in Rajasthan.
Eco-clearance
The project involves clinker grinding units of 1.5 mt a year each at Dadri in Uttar Pradesh and Osara in Madhya Pradesh. These projects involve a cumulative investment of about Rs. 3,500 crore. Environmental clearances for the project were obtained but the Ministry of Environment and Forests had kept approval for Marwar Mundwa project in abeyance, said the company.
“We are in the process of tying up water sources required for construction and operations. Full-fledged construction work is expected to commence in the later part of 2014,” it added.
Last year, the company had taken up 13 new projects at different locations worth Rs. 272 crore to optimise and enhance efficiency.
These projects have a quick payback of two-and-a-half years to four years. Most of these projects are likely to be completed this year.
A new brownfield expansion project to set up a roller press at Rs. 70 crore at the Rabriyawas unit in Rajasthan, will add 0.80 million tonnes grinding capacity in the first half of 2014, it said. Ambuja Cement is also setting up a Waste Heat Recovery plant at Rabriyawas with an investment of Rs. 75 crore to optimise power costs and meet renewable power obligation.
Railway project
In order to strengthen logistics capability, the company has taken up a new railway siding project at its Rabriyawas unit in Rajasthan.
The total project cost is estimated at Rs. 250 crore.
“So far 40 per cent work of the railway project is over and is expected to be completed within the second quarter of 2016,” it said.
The company expects demand to gradually revive over 2014 and 2015 with a new government and recovery in construction activity.
“We expect the capacity utilisation rate of the industry to improve gradually from the current 73 per cent to 80 per cent by 2018 given the slowdown in pace of capacity addition and gradual recovery in demand,” it said.
The company had announced a significant cement capacity addition of 4.50 million tonnes (mt) last year. It proposed to set up an integrated greenfield cement plant of 1.5 mt a year with 2.17 mt a year clinker facility at Marwar Mundwa, in Rajasthan.
Eco-clearance
The project involves clinker grinding units of 1.5 mt a year each at Dadri in Uttar Pradesh and Osara in Madhya Pradesh. These projects involve a cumulative investment of about Rs. 3,500 crore. Environmental clearances for the project were obtained but the Ministry of Environment and Forests had kept approval for Marwar Mundwa project in abeyance, said the company.
“We are in the process of tying up water sources required for construction and operations. Full-fledged construction work is expected to commence in the later part of 2014,” it added.
Last year, the company had taken up 13 new projects at different locations worth Rs. 272 crore to optimise and enhance efficiency.
These projects have a quick payback of two-and-a-half years to four years. Most of these projects are likely to be completed this year.
A new brownfield expansion project to set up a roller press at Rs. 70 crore at the Rabriyawas unit in Rajasthan, will add 0.80 million tonnes grinding capacity in the first half of 2014, it said. Ambuja Cement is also setting up a Waste Heat Recovery plant at Rabriyawas with an investment of Rs. 75 crore to optimise power costs and meet renewable power obligation.
Railway project
In order to strengthen logistics capability, the company has taken up a new railway siding project at its Rabriyawas unit in Rajasthan.
The total project cost is estimated at Rs. 250 crore.
“So far 40 per cent work of the railway project is over and is expected to be completed within the second quarter of 2016,” it said.
The company expects demand to gradually revive over 2014 and 2015 with a new government and recovery in construction activity.
“We expect the capacity utilisation rate of the industry to improve gradually from the current 73 per cent to 80 per cent by 2018 given the slowdown in pace of capacity addition and gradual recovery in demand,” it said.
Sun Pharma makes open offer for Zenotech stake
Mumbai: Sun Pharma has evinced its interest in buying Hyderabad-based biotech company Zenotech Laboratories, through an open offer to buy 28.1 per cent worth Rs 18.41 crore ($3 million). The former recently bought out Ranbaxy in a $4-billion deal.
Currently, Ranbaxy owns 46.84 per cent stake in Zenotech, while its parent Japan's Daiichi Sankyo holds 20 per cent.
A mandatory open offer for Zenotech has been triggered following the Sun-Ranbaxy deal. If it acquires the 28.1 per cent stake, Sun would own around 74.9 per cent of Zenotech.
Zenotech's former promoters, led by Jayaram Chigurupati, own 24.9 per cent of the company. On Friday, Zenotech shares were up 4.9 per cent at Rs 22.20 on the BSE.
Up to 9.6 million shares of face value of Rs 10 each of Zenotech, constituting 28.1 per cent (at Rs 19 an offer share aggregating to Rs 18.4 crore), can be bought by Sun, according to the latter.
Currently, Ranbaxy owns 46.84 per cent stake in Zenotech, while its parent Japan's Daiichi Sankyo holds 20 per cent.
A mandatory open offer for Zenotech has been triggered following the Sun-Ranbaxy deal. If it acquires the 28.1 per cent stake, Sun would own around 74.9 per cent of Zenotech.
Zenotech's former promoters, led by Jayaram Chigurupati, own 24.9 per cent of the company. On Friday, Zenotech shares were up 4.9 per cent at Rs 22.20 on the BSE.
Up to 9.6 million shares of face value of Rs 10 each of Zenotech, constituting 28.1 per cent (at Rs 19 an offer share aggregating to Rs 18.4 crore), can be bought by Sun, according to the latter.
Nasscom to build start-up warehouses
Bangalore: Information technology (IT) industry body Nasscom is in talks with the governments of Maharashtra and Tamil Nadu to set up ‘start-up warehouses’ for incubation of start-ups.
According to sources close to the development, the centres expected to come up in Mumbai and Chennai are likely to be operational by December this year.
The industry body has received similar interest from Kerala, too, but talks with the state government are still at a nascent stage, the sources added.
Under its ‘10,000 Start-Ups’ initiative, Nasscom had launched its first ‘start-up warehouse’ in August 2013 in Bangalore in partnership with the Karnataka government. Under the partnership, the state government had provided 10,000 sq ft of space for housing the warehouse, while Nasscom has brought in programmes, expert teams and mentors for start-ups. The warehouse has a capacity of around 70 seats with round-the-clock power back-up, a leased Internet line and four meeting rooms.
The warehouse provides start-ups office space (up to five people per start-up) for up to six months, which can be renewed for another six months.
According to sources, the warehouses in Mumbai and Chennai would be bigger than the one in Bangalore. "The one at Chennai would be around 20,000 sq feet and the one in Mumbai is expected to be around 24,000 sq feet," a source close to the development said.
Nasscom has been running the '10,000 Start-ups' programme for one year in partnership with Google, Kotak, Microsoft and Verisign. The initiative is aimed at providing necessary support to technology start-ups and create 10,000 domain specific start-ups in the country.
The industry body had invited first round of entries for the programme in April 2013, and the short-listed companies were provided with funding ranging from Rs 25 lakh to Rs 2 crore through leading angel investors. Some of these start-ups were also offered incubation at some leading incubators in the country. The second phase of applications were called for in October last year.
"I am open to any state that wants to do it; we will help them," said Ravi Gururaj, chairman of Nasscom's Product Council, which is looking after the 10,000 Start-Up programme.
According to sources close to the development, the centres expected to come up in Mumbai and Chennai are likely to be operational by December this year.
The industry body has received similar interest from Kerala, too, but talks with the state government are still at a nascent stage, the sources added.
Under its ‘10,000 Start-Ups’ initiative, Nasscom had launched its first ‘start-up warehouse’ in August 2013 in Bangalore in partnership with the Karnataka government. Under the partnership, the state government had provided 10,000 sq ft of space for housing the warehouse, while Nasscom has brought in programmes, expert teams and mentors for start-ups. The warehouse has a capacity of around 70 seats with round-the-clock power back-up, a leased Internet line and four meeting rooms.
The warehouse provides start-ups office space (up to five people per start-up) for up to six months, which can be renewed for another six months.
According to sources, the warehouses in Mumbai and Chennai would be bigger than the one in Bangalore. "The one at Chennai would be around 20,000 sq feet and the one in Mumbai is expected to be around 24,000 sq feet," a source close to the development said.
Nasscom has been running the '10,000 Start-ups' programme for one year in partnership with Google, Kotak, Microsoft and Verisign. The initiative is aimed at providing necessary support to technology start-ups and create 10,000 domain specific start-ups in the country.
The industry body had invited first round of entries for the programme in April 2013, and the short-listed companies were provided with funding ranging from Rs 25 lakh to Rs 2 crore through leading angel investors. Some of these start-ups were also offered incubation at some leading incubators in the country. The second phase of applications were called for in October last year.
"I am open to any state that wants to do it; we will help them," said Ravi Gururaj, chairman of Nasscom's Product Council, which is looking after the 10,000 Start-Up programme.
Philippines keen on tie-ups in rubber sector
Kochi: Rubber is poised to emerge as a growth driver for economic relations between India and the Philippines, which have remained muted over the years.
A 35-member delegation from Philippines including government officials, rubber and products manufacturers visited India and held wide ranging talks with Rubber Board, Rubber Research Institute of India and All India Rubber Industries Association (AIRIA).
According to Niraj Thakkar, President, AIRIA, the Philippines has identified India as a key partner for reinvigorating its rubber sector as India has strengths across the entire rubber spectrum including rubber farming, processing and manufacturing which are unmatched by any other country. Besides discussions with the Rubber Board on developing high-yielding clones of rubber trees, the delegation visited rubber manufacturing units and machinery manufacturers.
In the comity of rubber producing nations, he said the Philippines has so far remained a fringe player. In the nine-member Association of Natural Rubber Producing Countries, Philippines was eighth in rubber production last year with a production of 1,16,400 tonnes. The Philippines has now sharpened its focus on expanding rubber production. The area under rubber has gone up from 1,78,600 hectares in 2012 to an estimated 2,11,600 hectares now.
The visit to India focused on increasing competitiveness in production, processing and manufacturing of rubber so as to increase domestic and export sales, attract investments in the rubber sector and create jobs, he said. Yokohama Tire Philippines is a major consumer of rubber but sources only 5 per cent of its rubber requirement from domestic sources. Like many other South-East Asian rubber producers, the Philippines wishes to move up the value chain by strengthening domestic rubber manufacturing besides improving quality of rubber produced, he said.
A 35-member delegation from Philippines including government officials, rubber and products manufacturers visited India and held wide ranging talks with Rubber Board, Rubber Research Institute of India and All India Rubber Industries Association (AIRIA).
According to Niraj Thakkar, President, AIRIA, the Philippines has identified India as a key partner for reinvigorating its rubber sector as India has strengths across the entire rubber spectrum including rubber farming, processing and manufacturing which are unmatched by any other country. Besides discussions with the Rubber Board on developing high-yielding clones of rubber trees, the delegation visited rubber manufacturing units and machinery manufacturers.
In the comity of rubber producing nations, he said the Philippines has so far remained a fringe player. In the nine-member Association of Natural Rubber Producing Countries, Philippines was eighth in rubber production last year with a production of 1,16,400 tonnes. The Philippines has now sharpened its focus on expanding rubber production. The area under rubber has gone up from 1,78,600 hectares in 2012 to an estimated 2,11,600 hectares now.
The visit to India focused on increasing competitiveness in production, processing and manufacturing of rubber so as to increase domestic and export sales, attract investments in the rubber sector and create jobs, he said. Yokohama Tire Philippines is a major consumer of rubber but sources only 5 per cent of its rubber requirement from domestic sources. Like many other South-East Asian rubber producers, the Philippines wishes to move up the value chain by strengthening domestic rubber manufacturing besides improving quality of rubber produced, he said.
Saturday, April 12, 2014
Suzlon sells 240 MW Big Sky Wind Farm in US to EverPower Wind Holdings
Mumbai: Suzlon Group, the world's fifth largest wind turbine manufacturer, on Wednesday announced the strategic sale of the 240 MW Big Sky Wind Farm in Illinois to EverPower Wind Holdings, Inc, pocketing about $100 million and leading its shares up 7% to close at Rs 15 in a firm Mumbai market on Wednesday.
Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy through its fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO) has signed a definitive agreement with EverPower to sell the project located in Illinois, about 95 miles west of Chicago, said a Suzlon statement. The deal was first reported by ToI on April 3.
"We are very pleased to welcome EverPower to the Suzlon family of customers. The SWECO OMS team looks forward to partnering with EverPower to maintain the high standards of availability and reliability at Big Sky that we have seen since operations started at Big Sky four years ago," said Duncan Koerbel, CEO of Suzlon Wind Energy Corporation and CTO of the Suzlon Group.
This acquisition of Big Sky by EverPower makes it the nation's 18th largest wind generator, with a combined capacity of 752MW in the US in winder power generation.
"We are pleased to add this project to our portfolio. It fits into both our overall growth strategy and our strategy of building our portfolio in liquid markets like PJM," said James Spencer, president and CEO of EverPower.
Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1MW S88 turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tons of CO2 emissions.
"This sale of Big Sky Wind Farm to a sound long term investor like EverPower is an important part of our dis-investment strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth," said Kirti Vagadia, group head, finance at Suzlon. Besides, Suzlon has lined up a dozen non-core assets for sale and aims to raise Rs 1500 crore to pare its debts.
Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy through its fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO) has signed a definitive agreement with EverPower to sell the project located in Illinois, about 95 miles west of Chicago, said a Suzlon statement. The deal was first reported by ToI on April 3.
"We are very pleased to welcome EverPower to the Suzlon family of customers. The SWECO OMS team looks forward to partnering with EverPower to maintain the high standards of availability and reliability at Big Sky that we have seen since operations started at Big Sky four years ago," said Duncan Koerbel, CEO of Suzlon Wind Energy Corporation and CTO of the Suzlon Group.
This acquisition of Big Sky by EverPower makes it the nation's 18th largest wind generator, with a combined capacity of 752MW in the US in winder power generation.
"We are pleased to add this project to our portfolio. It fits into both our overall growth strategy and our strategy of building our portfolio in liquid markets like PJM," said James Spencer, president and CEO of EverPower.
Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1MW S88 turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tons of CO2 emissions.
"This sale of Big Sky Wind Farm to a sound long term investor like EverPower is an important part of our dis-investment strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth," said Kirti Vagadia, group head, finance at Suzlon. Besides, Suzlon has lined up a dozen non-core assets for sale and aims to raise Rs 1500 crore to pare its debts.
Suven Life secures patents in Canada, Hong Kong
Hyderabad: Suven Life Sciences Ltd has obtained two patents, one each from Hong Kong and Canada, for its New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases.
The granted claims of the patents include the class of selective 5-HT compounds discovered by the Hyderabad-based company that were being developed as therapeutic agents.
They were useful in the treatment of cognitive impairment associated with neurodegenerative disorders such as Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinsons and schizophrenia.
The granted claims of the patents include the class of selective 5-HT compounds discovered by the Hyderabad-based company that were being developed as therapeutic agents.
They were useful in the treatment of cognitive impairment associated with neurodegenerative disorders such as Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinsons and schizophrenia.
Record rise in seafood export, 1-mt mark crossed
Kochi: The provisional estimates of the Marine Products Export Development Authority (MPEDA) shows India’s seafood export has crossed one million tonne mark for the first time, earning over $4.5 billion in 2013-14.
According to the provisional estimates, the increase of $1 billion in revenue in 12 months is a great achievement. Export revenue grew 30 per cent in dollar terms. During 2011-12 and 2012-13, earnings were $3.5 billion. In rupee terms, the estimates indicated an earning of Rs 20,000 crore.
In 2012-13, India exported 928,215 tonnes valued at Rs 18,856 crore. In 2011-12, the country had exported 862,021 tonnes valued at Rs 16,597 crore. MPEDA now targets an earning of $ 10 billion by 2020. This performance was due to two major factors: Serious fall in the production and export of shrimp from Southeast Asian countries and the lowering of countervailing duty on Indian shrimp exports in the US.
Production in Southeast Asian countries had been affected badly due to the spread of a disease called Early Mortality Syndrome. Supply from Thailand, the world’s second largest shrimp producer, dropped around 50 per cent from the normal 500,000 tonnes a year. Other leading producers Vietnam and Malaysia had also been hit. India could cash on this global situation and enhanced its exports to these countries too.
Processing plants in East Asian countries had to depend on imports from India in order to meet their commitments with European and US importers. Countries such as Vietnam, China and Thailand imported more shipments from India last year, mainly for re-export.
Rise in local demand in Korea also caused warming up in global prices, said Anwar Hashim, a leading exporter and former president of Seafood Exporters Association of India. However, USA was the largest market for Indian shrimps, as the country imported 51.24 per cent of the total Indian shrimp exports. This was followed by South East Asian countries (16 per cent), EU (15.82 per cent) and Japan (4.94 per cent).
Shortage of shrimp due to spread of EMS also caused rise in prices and, this, in turn, helped the steep rise in dollar earnings, he added. Increase in the production of Vannamei shrimp, rise in the productivity of Black Tiger variety and increase in export of chilled items also helped achieve higher exports, MPEDA said.
According to the provisional estimates, the increase of $1 billion in revenue in 12 months is a great achievement. Export revenue grew 30 per cent in dollar terms. During 2011-12 and 2012-13, earnings were $3.5 billion. In rupee terms, the estimates indicated an earning of Rs 20,000 crore.
In 2012-13, India exported 928,215 tonnes valued at Rs 18,856 crore. In 2011-12, the country had exported 862,021 tonnes valued at Rs 16,597 crore. MPEDA now targets an earning of $ 10 billion by 2020. This performance was due to two major factors: Serious fall in the production and export of shrimp from Southeast Asian countries and the lowering of countervailing duty on Indian shrimp exports in the US.
Production in Southeast Asian countries had been affected badly due to the spread of a disease called Early Mortality Syndrome. Supply from Thailand, the world’s second largest shrimp producer, dropped around 50 per cent from the normal 500,000 tonnes a year. Other leading producers Vietnam and Malaysia had also been hit. India could cash on this global situation and enhanced its exports to these countries too.
Processing plants in East Asian countries had to depend on imports from India in order to meet their commitments with European and US importers. Countries such as Vietnam, China and Thailand imported more shipments from India last year, mainly for re-export.
Rise in local demand in Korea also caused warming up in global prices, said Anwar Hashim, a leading exporter and former president of Seafood Exporters Association of India. However, USA was the largest market for Indian shrimps, as the country imported 51.24 per cent of the total Indian shrimp exports. This was followed by South East Asian countries (16 per cent), EU (15.82 per cent) and Japan (4.94 per cent).
Shortage of shrimp due to spread of EMS also caused rise in prices and, this, in turn, helped the steep rise in dollar earnings, he added. Increase in the production of Vannamei shrimp, rise in the productivity of Black Tiger variety and increase in export of chilled items also helped achieve higher exports, MPEDA said.
US remains top overseas education destination
Mumbai: Rajiv Chaturvedi, a 22-year-old engineer, had put aside his plan to visit the US for a Master of Science (MS) programme last year, when the rupee depreciated and almost touched Rs 68.85 versus the dollar.
As a result, the course-fee of the technology institute of his choice was up by almost Rs 3 lakh. This time, when the rupee has appreciated to nearly Rs 59.50 versus the dollar, Chaturvedi's plan to study in the US is back on track.
The US is the most preferred international study destination. Education consultants say Australia, Canada and New Zealand have become the next most popular destinations, on the back of easier visa norms and more scholarships for Indian students. However, the UK has seen a drop in students.
Vinayak Kamat, Director of Mumbai-based GeeBee Education that assists students in pursuing overseas education, explains there has been a drop in the number going to the UK after removal of post study work permit three years ago. He added that Canada has grown manifold in the past four years, while the US was still the first choice.
Data from the Institute of International Education, Educational Exchange Data from Open Doors 2013 showed that in the 2012-13 academic year, 96,754 students from India were studying in the US (down 3.5 per cent from the previous year). India is the second leading place of origin for students coming to the US after China.
Rohan Ganeriwala, co- founder of overseas education consultants, Collegify, says that overall Europe as a student destination has seen a drop due to lower job opportunities for students after their course completion. "The US economy has revived, bringing back student interest. Canada has also gained due to a thriving job market for students in the region," he added.
New rules that aim to strengthen Canada's status as a study destination of choice for prospective international students will take effect on June 1, 2014. The new regulations will improve services to genuine students, while protecting Canada's international reputation for high-quality education and reducing the potential for fraud and misuse of the programme.
According to the new rules, registered Indians who are also foreign nationals may study in Canada without a study permit as they have the right of entry into Canada. Further, study permits will automatically authorise the holder to work off-campus for up to 20 hours a week during the academic session and full-time during scheduled breaks without the need to apply for a separate work permit.
Canadian institutes have also begun extensive campaigns in countries like India for students to visit their country. For instance, some educational institutes have tied-up with schools in India, wherein these school students wanting to pursue higher education abroad are taken to Canada for 3-7 days and provided an overview of the educational and employment scenario in that country.
Naveen Chopra, chairman and promoter, The Chopras, says that Australia has picked up as a destination, due to the fact that the visa norms allow students who study in the country for two years to work there for two years. "Australia also offers the highest minimum wages - as high as $80 per hour - which is an attractive proposition," he added.
The new guidelines of Australia under the post-study work stream offers extended options for working in Australia to eligible graduates of a higher education degree. Under this stream, successful applicants are granted a visa of two, three or four years duration, depending on the highest educational qualification they have obtained.
Though Australia has emerged as a preferred location for students, earlier there were some concerns about racial discrimination and attacks against Indians. "While students and parents double-check on the safety aspects, Australian government has taken steps to curb such instances and, hence, enrollments are up," said a senior official from an education consultancy.
Apart from the visa relaxations, scholarships to students have also increased from emerging student destinations like New Zealand. Ziena Jalil, Regional Director for South Asia, Education New Zealand said student visas issued to Indian nationals seeking to study in New Zealand increased more than 10 per cent last year, making India one of the fastest growing student markets for New Zealand.
"This year too, there is an increase in the number of applications from students. Our student numbers from India have continued to grow. We have also increased our activities in India to attract more students," she added.
Jalil explained that international students who have achieved a New Zealand qualification may be allowed to gain experience in work related to their studies. Depending on what international students study, they may be able to work in New Zealand, and possibly even gain residence.
First, international students need to apply for a visa and get it approved. The study to work pathway has two steps - post-study work visa (open) and post-study work visa (employer assisted).
Post-study work visa (open) gives international students up to 12 months to get a job in a field related to their studies. While looking for a job in their field, students are allowed to work in any job to support themselves.
Further, post-study work visa (employer assisted) lets international students stay in New Zealand to gain work experience for a further two years (or three years if work experience is required as part of a professional registration). This visa relates to a specific job with a specific employer.
Meanwhile, UK has seen a drop in the number of students from India, on the back of tighter visa norms for students. This is especially for those who want to pursue a job in the UK after completion of course.
According to the April 2014 report 'Global demand for English Higher Education' by Higher Education Funding Council for England, there are declining numbers of entrants from South Asia - particularly India and Pakistan - at undergraduate and postgraduate levels. The data also suggest a continued decline in student visas issued to applicants from countries mainly in South Asia - specifically Pakistan, India, Sri Lanka and Iran.
"While English higher education remains popular worldwide, there has been a decline in the growth of international recruitment since 2010. This is the first significant slowdown in the past 29 years. Data show that while entrants from India and Pakistan have halved in England since 2010, their numbers are growing elsewhere," the report said.
As a result, the course-fee of the technology institute of his choice was up by almost Rs 3 lakh. This time, when the rupee has appreciated to nearly Rs 59.50 versus the dollar, Chaturvedi's plan to study in the US is back on track.
The US is the most preferred international study destination. Education consultants say Australia, Canada and New Zealand have become the next most popular destinations, on the back of easier visa norms and more scholarships for Indian students. However, the UK has seen a drop in students.
Vinayak Kamat, Director of Mumbai-based GeeBee Education that assists students in pursuing overseas education, explains there has been a drop in the number going to the UK after removal of post study work permit three years ago. He added that Canada has grown manifold in the past four years, while the US was still the first choice.
Data from the Institute of International Education, Educational Exchange Data from Open Doors 2013 showed that in the 2012-13 academic year, 96,754 students from India were studying in the US (down 3.5 per cent from the previous year). India is the second leading place of origin for students coming to the US after China.
Rohan Ganeriwala, co- founder of overseas education consultants, Collegify, says that overall Europe as a student destination has seen a drop due to lower job opportunities for students after their course completion. "The US economy has revived, bringing back student interest. Canada has also gained due to a thriving job market for students in the region," he added.
New rules that aim to strengthen Canada's status as a study destination of choice for prospective international students will take effect on June 1, 2014. The new regulations will improve services to genuine students, while protecting Canada's international reputation for high-quality education and reducing the potential for fraud and misuse of the programme.
According to the new rules, registered Indians who are also foreign nationals may study in Canada without a study permit as they have the right of entry into Canada. Further, study permits will automatically authorise the holder to work off-campus for up to 20 hours a week during the academic session and full-time during scheduled breaks without the need to apply for a separate work permit.
Canadian institutes have also begun extensive campaigns in countries like India for students to visit their country. For instance, some educational institutes have tied-up with schools in India, wherein these school students wanting to pursue higher education abroad are taken to Canada for 3-7 days and provided an overview of the educational and employment scenario in that country.
Naveen Chopra, chairman and promoter, The Chopras, says that Australia has picked up as a destination, due to the fact that the visa norms allow students who study in the country for two years to work there for two years. "Australia also offers the highest minimum wages - as high as $80 per hour - which is an attractive proposition," he added.
The new guidelines of Australia under the post-study work stream offers extended options for working in Australia to eligible graduates of a higher education degree. Under this stream, successful applicants are granted a visa of two, three or four years duration, depending on the highest educational qualification they have obtained.
Though Australia has emerged as a preferred location for students, earlier there were some concerns about racial discrimination and attacks against Indians. "While students and parents double-check on the safety aspects, Australian government has taken steps to curb such instances and, hence, enrollments are up," said a senior official from an education consultancy.
Apart from the visa relaxations, scholarships to students have also increased from emerging student destinations like New Zealand. Ziena Jalil, Regional Director for South Asia, Education New Zealand said student visas issued to Indian nationals seeking to study in New Zealand increased more than 10 per cent last year, making India one of the fastest growing student markets for New Zealand.
"This year too, there is an increase in the number of applications from students. Our student numbers from India have continued to grow. We have also increased our activities in India to attract more students," she added.
Jalil explained that international students who have achieved a New Zealand qualification may be allowed to gain experience in work related to their studies. Depending on what international students study, they may be able to work in New Zealand, and possibly even gain residence.
First, international students need to apply for a visa and get it approved. The study to work pathway has two steps - post-study work visa (open) and post-study work visa (employer assisted).
Post-study work visa (open) gives international students up to 12 months to get a job in a field related to their studies. While looking for a job in their field, students are allowed to work in any job to support themselves.
Further, post-study work visa (employer assisted) lets international students stay in New Zealand to gain work experience for a further two years (or three years if work experience is required as part of a professional registration). This visa relates to a specific job with a specific employer.
Meanwhile, UK has seen a drop in the number of students from India, on the back of tighter visa norms for students. This is especially for those who want to pursue a job in the UK after completion of course.
According to the April 2014 report 'Global demand for English Higher Education' by Higher Education Funding Council for England, there are declining numbers of entrants from South Asia - particularly India and Pakistan - at undergraduate and postgraduate levels. The data also suggest a continued decline in student visas issued to applicants from countries mainly in South Asia - specifically Pakistan, India, Sri Lanka and Iran.
"While English higher education remains popular worldwide, there has been a decline in the growth of international recruitment since 2010. This is the first significant slowdown in the past 29 years. Data show that while entrants from India and Pakistan have halved in England since 2010, their numbers are growing elsewhere," the report said.
India inks pact with Russia to share diamond trade data
Mumbai: India has signed a memorandum of understanding with Russia to source data on diamond trade between two countries. India is the largest diamond processor, while Russia is the world’s largest rough diamond producer.
The agreement between both countries was signed in Russia by the Gem and Jewellery Export Promotion Council and Russian Government-owned diamond mining firm Alrosa which accounts for close to 25 per cent of the world output. India accounts for about 60 per cent of global polished diamond output in value terms. India imported 163.11 million carats of rough diamonds worth $16.34 billion and exported 36.46 million carats of polished diamonds worth $20.23 billion in 2013. Indian exported gems and jewellery worth $36.04 billion last year. Russia produced 34.9 million carats of rough diamonds in 2012.
The Reserve Bank of India recently liberalised financing for rough diamond imports by allowing banks to extend advance remittance to Indian importers in favour of any global miners. Earlier, this facility was restricted to five global miners of roughs.
Vipul Shah, Chairman GJEPC, said India has sought long-term contracts between Alrosa and the Indian cutting and polishing industry. With this association, both trade bodies look forward to cooperation and exchange information in the framework of implementation of Kimberley Process Certification Scheme which prevents diamond industry finance to war or human rights abuses.
An Alrosa study team visiting India recently said most of the rough diamonds produced in Russia are cut and polished in India.
The agreement between both countries was signed in Russia by the Gem and Jewellery Export Promotion Council and Russian Government-owned diamond mining firm Alrosa which accounts for close to 25 per cent of the world output. India accounts for about 60 per cent of global polished diamond output in value terms. India imported 163.11 million carats of rough diamonds worth $16.34 billion and exported 36.46 million carats of polished diamonds worth $20.23 billion in 2013. Indian exported gems and jewellery worth $36.04 billion last year. Russia produced 34.9 million carats of rough diamonds in 2012.
The Reserve Bank of India recently liberalised financing for rough diamond imports by allowing banks to extend advance remittance to Indian importers in favour of any global miners. Earlier, this facility was restricted to five global miners of roughs.
Vipul Shah, Chairman GJEPC, said India has sought long-term contracts between Alrosa and the Indian cutting and polishing industry. With this association, both trade bodies look forward to cooperation and exchange information in the framework of implementation of Kimberley Process Certification Scheme which prevents diamond industry finance to war or human rights abuses.
An Alrosa study team visiting India recently said most of the rough diamonds produced in Russia are cut and polished in India.
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