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Govt to replicate IT NEW DELHI, Jan 13: Government will take all measures to replicate the highly developed Information....more
Govt will amend laws NEW DELHI, Jan 13: Information and Broadcasting Minister Arun Jaitley has said....more Japan may buy NKorea missile site photos from US Tokyo, Jan 13: Japan, worried by the potential military threat from North Korea....more BIFR forms prima facie opinion on winding up 2 PSUs NEW DELHI, Jan 13: The Board for Industrial and Financial Reconstruction (BIFR)........more |
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 Santro
price hike NEW DELHI, Jan 13: Hyundai Motors India Limited (HMIL) has deferred its decision....more FCIK
concern over Excelsior Correspondent SRINAGAR, Jan 13: Federation Chamber of Industries of Kashmir ....more
TATA working towards NEW DELHI, Jan 13: TATA Engineering is working towards ....more Skoda to stretch NEW DELHI, Jan 13: Skoda Auto as would extend its localisation programme to achieve....more |
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to replicate IT industry of Silicon Valley in India: PM NEW DELHI, Jan 13: Government will take all measures to replicate the highly developed Information Technology industry of Silicon Valley, Prime Minister Atal Behari Vajpayee assured visiting NRI entrepreneurs from US who suggested India should target over 200 per cent growth in IT sector. The entire Government — indeed, the entire country—has now adopted promotion of it as its strategic goal, Vajpayee told the visiting it experts and said we heartily welcome your participation in this endeavour. Over 15 succesful entrepreneurs for US who made a fortune in the IT sector met the Prime Minister at his residence to pledge their complete support to India’s endeavour to become an IT superpower. The delegation, led by Kanwal Rekhi, president, the Indus Entrepreneurs (TIE), also urged Vajpayee to increase the growth target of IT industry to over 200 per cent annually from 10 to 20 per cent now and liberalise norms for venture capital funds to finance IT start-ups for achieving this. The delegation, which also included Dr Suhas Patil, Sabeer Bhatia, and Chandrasekhar, made various suggestions for improving telecom infrastructure in India, easing norms to attract venture capital. Describing the visiting it entrepreneurs as ‘angel investors’ Vajpayee said your suggestions and ideas on the growth of venture capital in India as a tool to promote high-tech and high-value investment are welcome. Vajpayee said that Ministry of Information Technology has signed an agreement with Stanford University to foster institutional corporation between the two. This cooperation would be a key enabler in forging interaction between industry, academicia, financial professionals and the Government of India and US, he said. On the rapid growth of IT industry in the country, Vajpayee said, infotech is all about new ideas, it is also about the speed with which these ideas are converted into new products and services. India must aim at accelerating both the creation of intellectual capital and transforming itself into a world-class enterprise, he said. Emphasising that benefits of technology should go beyond infotech, Vajpayee said the true barometer of success in IT should be how much it contributes to removing poverty, and social and regional imbalances. (PTI) |
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Govt will amend laws relating to video piracy, says Jaitely NEW DELHI, Jan 13: Information and Broadcasting Minister Arun Jaitley has said the Government will shortly amend the laws relating to video piracy and cable operators to help the ailing the film industry. The minister told a delegation of the Film Federation of India led by its President P V Gangadharan which met him recently said he had received various suggestions for amendments to the Cable Networks (Regulation) Act 1995 to make some of its provisions applicable to the entire country and giving greater powers to the District Magistrate to act against erring operators. Mr Gangadharan, who is here in connection with the 31st International Film Festival of India, told Mr Jaitley and Finance Minister Yashwant Sinha in separate meetings that very little action had been taken since cinema was declared as an industry by then I and B Minister Sushma Swaraj in May 1998. Both the ministers promised speedy action on the various demands of the industry. In the meeting with Mr Jaitley, it was pleaded that film theatres cannot be forced to pay for screening the software produced by the films division. Mr Gangadharan pointed out to UNI that this software could only have been shown in theatres in the early days, but now it could also be telecast on television. Furthermore, he said the film industry could not be asked to pay for this when even Doordarshan does not do so. In the pre-budget memorandum submitted to Mr Sinha, the FFI has demanded that the countervailing duty on raw film stock should be removed as this was illegal since such duty can only be charged on import of goods being made inside the country. Mr Gangadharan has pointed out that the Hindustan Photo Films is simply importing the jumbo raw colour film stock which are then sliced into smaller rolls. Therefore, this cannot be termed as production. Mr Gangadharan, who took over as ffi president recently, also reiterated the film industry’s long-pending demand for rationalisation of entertainment tax, especially when a Government committee had in 1990 made recommendations in this regard. He said it was unfortunate that though cinema was the only entertainment for the poor and the middle class, it was treated as an item of luxury for the purposes of taxation. The FFI president said tht while recorded video cassettes for broadcast purposes had been exempted from payment of excise duty in the last union budget, many producers had received demand notices from the excise authorities which had interpreted the decision in a perverse manner. Similarly, income tax benefits to film software exporters given by the Government had been withdrawn by the Income Tax Commissioner who held that film software could not be considered as goods and merchandise. Apart from other demands, the FFI has also said the relief under section 80hhc of the Income Tax Act holding that film software exports are not goods/merchandise should be implemented with retrospective effect from April 1995. (UNI) |
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Japan may buy NKorea missile site photos from US Tokyo, Jan 13: Japan, worried by the potential military threat from North Korea, said today it was considering buying satellite imagery of North Korea’s missile test site from a private US firm. Top Government spokesman Mikio Aoki said Japan’s defence agency might buy satellite photos of North Korea’s Taepodong missile test site taken in November to analyse the reclusive stalinist state’s missile programme. "I understand the the defence agency is considering buying the photos," Mr Aoki told a news conference. In November, Colorado-based space imaging took satellite pictures of the North Korean missile site and started to commercialise previously top-secret spy satellite imagery. In the past such images have been seen only by US Government officials with security clearances, but now anyone can buy them from a private firm with a satellite that can take detailed pictures. Earlier this week, the Federation of American Scientists (FAS), a public policy group focused on national security issues, bought photos of the North Korean missile test site and posted them on its web site www.Fas.Org for the world to see. FAS officials said the North Korea photos appeared to show a fairly primitive facility, but US defence and intelligence officials warned against downplaying the threat from North Korea. (REUTERS) |
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BIFR forms prima facie opinion on winding up 2 PSUs NEW DELHI, Jan 13: The Board for Industrial and Financial Reconstruction (BIFR) has formed a prima facie opinion to wind up two Public State Units — Mysore Lamp Works Limited and UP State Textiles Corporation Limited. In recent hearings, the Board observed that there is no viable and agreed rehabilitation proposal with means of finance fully tied up for consideration despite sufficient opportunities allowed to all concerned. Moreover, no other party is available to take over the unit for rehabilitation. The Board further observed that all possibilities of rehabilitating the companies have been explored and exhausted. In the case of Mysore Lamps, the Board has said objections and suggestions from any concerned parties will be heard on February 2 and for UP State Textiles on February 28, 2000. (UNI) |
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Santro price hike will be announced after Jan 15: Subbu NEW DELHI, Jan 13: Hyundai Motors India Limited (HMIL) has deferred its decision on price increase in its small sized car Santro till January 15 when State Governments will take a final stand on uniform sales tax. HMIL had earlier stated that it will announced the price hike on the first week of this month. However, because of differences among State Governments on uniform sales tax, the company has decided to postpone the price rise till the issue is resolved, HMIL Director (Marketing and Sales) B V R Subbu told mediapersons at Auto Expo here today. While earlier, HMIL sources had indicated that prices will be increased by around Rs 18,000, company officials remained tightlipped over the issue. However, Mr Subbu added that company has completed a study on the price increase. While current prices of Santro Euro I compliant versions very from Rs 2,83,512 to Rs 3,46,619, the Euro II variants range from Rs 2,89,186 to Rs 3,57,940 ex-showroom in Delhi. HMIL has sold 58,652 units of Santro during 1999 and has set a target of selling 66,000 vehicles this calendar year. (UNI) |
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FCIK concern over industrial units taken over by forces Excelsior Correspondent SRINAGAR, Jan 13: Federation Chamber of Industries of Kashmir (FCIK) has expressed serious concern over the occupation of various industrial units by the security forces in Valley. The members of the unit, in a meeting with the new Industries Minister, Dr Mustafa Kamal demanded that all the industrial units occupied by the security forces has caused a serious impact on the growth of the Industry in the state and they should be freed from their control. It was the first meeting of the Kashmir Chamber with the new Industries Minister. The members presented a detailed agenda before the minister. It was also brought before the notice that almost all the units in the Valley are lying sick due to militancy. No affective measures were taken to revive the units. Though some financial benefit was provided to some people by the government but they are being harassed for the recoveries. The minister assured that the state government would take up the matter with the Central government in this regard. The Divisional Commissioner, Mr Khurshid Ahmed Ganai favoured their plea about the compensation being carried out in respect of Industrial units occupied by the forces for the last 8-10 years. |
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TATA working towards 3 new versions on Indica platform NEW DELHI, Jan 13: TATA Engineering is working towards introducing three new vehicles, including a van and a mid-size car, on the Indica platform, TATA Group Chairman Ratan Tata said. However, no time-frame has been set for introducing these vehicles, Mr Tata told UNI here. "We are working on three different models on the Indica platform as part of efforts to enlarge our product portfolio. But it would be too early to commit any launch dates on the same," Mr Tata added. Meanwhile, sources pointed out that besides the van, a pick-up version of the same is also being mulled. The mid-size car, which was earlier scheduled for launch by the second half of 1999, would now only be launched over the next one year, the sources added. "Presently, we are aggressively working towards rolling out more versions of the Indica. In the next phase, we intend to get the other variants." TELCO has already created a special business unit to handle its passenger car project and is now setting up separate profit centres for its commercial vehicles and appointing individual product managers for each category. Separate business units are being created for its light commercial vehicles as well as medium and heavy commercial vehicles, the sources said. "This is as part of our attempts to streamline operations and create a seamless organisation. The organisational set-up for commercial vehicles has been recast with certain management level changes," the sources added. Though the passenger car business will become a separate business centre, there are no plans to hive it off into a separate company. Meanwhile, TATA has announced its foray into the luxury segment of the passenger car market with the 1900cc ‘Magna’, scheduled to be rolled out over the next one year. The car, to be available in both petrol and diesel versions, would be the flagship car of the TELCO portfolio. To be priced between the Mitsubishi Lancer and the Mercedes E-class, the car would also be available in higher powered engine versions, Mr Tata said. "We are studying several variations and innovations on the car and will launch the vehicle once we are satisfied with its performance and we feel it can meet all our expectations." The car, he said, would be longer and more comfortable than the Astra, Lancer and Baleno. Its size would be closest to the Mercedes E-class, he added. The Magna is a rear-wheel drive sedan, powered by a two-litre engine. The car has been developed with different trim levels. The company, he said, is also studying the feasibility of introducing a mid-size offering on the Indica platform. "The studies are on but we cannot set a definite time frame for the launch." Besides, the company also unveiled a two-seater concept sports car on the Indica patform-aria developed along with idea of Italy, the car has been conceived with a 140hp, four-cylinder engine and a maximum speed of 225km/hr. "The launch date for the car has not been finalised as yet. We will be seeking customer feedback on the car and if we feel there is enough demand for the car, we would introduce it in both domestic and export markets." The car, displayed at the ongoing Auto Expo 2000, is without a rooftop, with a 16 inch alloy wheel, low profile tyres and roll-over bars for driver and passenger. (UNI) |
Skoda to stretch localisation schedule beyond DGFT norms NEW DELHI, Jan 13: Skoda Auto as would extend its localisation programme to achieve the mandatory 70 per cent level beyond five years if the quality of Indian made components could not match its standards, a senior company official said. "We have can obligation under the MoU signed with the Directorate General of Foreign Trade (DGFT) that we would embark on a localisation plan and achieve a level of 70 per cent within five years. But if the quality of components here are not good enough, we would even stretch this regard," Mr Detlef Witting, Vice Chairman of the Board of Management of Skoda, told newspersons here today. Under the MoU, all foreign car makers are required to achieve a local content level of 50 per cent within three years and 70 per cent in five years besides investing a minimum of 50 million dollars for a start-up venture. "If we can’t get the desired quality standards then we will not go in for localisation. Olur quality concerns are above and beyond the MoU norms," he added. The Octavia, Skoda’s maiden offering for India, would be rolled out with a local content level of ten to 15 per cent. The company is planning to sell 3000units of the car in the year 2000. The car is scheduled for roll-out in May this year. It may be recalled that the Skoda proposal had been hanging fire with the DGFT for over two years because of a stand-off between both the parties on the localisation issue. The company had been for long seeking a relaxation on the regulations but the DGFT had refused any relaxations on this front. Skoda had finally relented and agreed to meet the laid-down rules. Skoda has now agreed to invest 56 million dollars to set up a plant in Aurangabad, Maharashtra to produce its luxury Sedan "Octavia." The company, in its application with the FIPB, has stated that it would divest upto ten per cent stake in the subsidiary over 2-3 years. However, nothing has been finalised on that end. "Divestment is a long term strategy for us but for the time being we will go it alone in India. The decision has been based on the fact that we want to maintain the international quality of our cars .. Besides, Volkswagen and Skoda have enough financial muscle to see through any further investments required in the future." The car would initially be assembled in India through imports of Completely Knocked Down (CKD) and Semi-Knocked Down (SKD) kits. "In the first phase of two to three years, we would continue with CKD and SKD Assembly. But we will be working on the localisation programme simultaneously." The company would initially commence deliveries through two dealers in Mumbai and Delhi, which would later be hiked. Skoda, Mr Witting said, does not intend to export the made-in-India Octavia before two years of commencing production. "We have to first look at satisfying the domestic demand here and also build up the infrastructure and improve quality of suppliers to our standards." It may be recalled that Skoda was initially planning to foray into iIdia through a joint manufacturing facility with Volkswagen Group company Audi AG. The company had even shortlisted Felicia as the launch vehicle for the country but later decided against the model and is now introducing Octavia here. "However, this does not mean that felicia would never come to india. We are exploring the feasibility and we might introduce felicia and even the recently launched Fabia in India over the next few years. But no time frames can be specified for the same." (UNI) |
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