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Maran promises NEW DELHI, Oct 23: Minister of Commerce and Industry Murasoli Maran today assured......more HM still open to giving NEW DELHI, Oct 23: The C K Birla flagship company Hindustan Motors Limited (HM)....more Coke, Pepsi use popular NEW DELHI, Oct 23: The two beverage majors Coca-Cola India (CCI) and Pepsico are now.....more Asia Cyber Net to NEW DELHI, Oct 23: Asia Cyber Net, a leading web and wireless solutions provider......more |
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Farooq lays foundation of Maruti outlet Excelsior Correspondent Udhampur, Oct 23 : The Chief Minister, Dr.Farooq Abdullah laid the foundation stone of Maruti Dealership outlet...more KMCL announces NEW DELHI, Oct 23: The Board of Directors of Kinetic Motor Company Limited, formerly Kinetic Honda Motor Limited, has announced a 25 per cent ...more NSC ask RBI, MOC NEW DELHI, Oct 23: The National Statistical Commission (NSC) today regretted the mismatach in export and import data of Commerce Ministry...more Rangaranjan for NEW DELHI, Oct 23: Dr C. Rangarajan, Governor of Andhra Pradesh and chairman of the National Statistical Commission, today called for ......more |
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Maran promises level playing field to cement industry NEW DELHI, Oct 23: Minister of Commerce and Industry Murasoli Maran today assured the cement industry of providing a level-playing field and considering any duty reduction proposal as long as it is revenue neutral. The demand recession hit cement industry has been pressing for duty cuts to make inroads into the price sensitive domestic market and make cement generally affordable. "Widening of the base and lowering the duty rates is what we have generaly followed in our strategy of tax reforms. Needless to say that any suggestion of the industry which is consistent with the basic tenet of revenue neutrality will get our immediate nod," Mr Maran said addressing the Cement Manufacturers Association here. The Government, the minister said, would ensure a facilitating environment and a level playing field for the cement industry in the globally competitive market. "In this era of liberalisation, competitiveness is the mantra of survival and every company has to conform to the international benchmarks. Initiatives in this regard are primarily in the domain of the company. But what we in the Government can ensure you is a facilitating environment and a level playing field," Mr Maran said. Mr Maran said the Government was committed to provide a hassle-free environment to business and industry. Even as the industry has been demanding simplification or deleting of certain laws, an exercise was on to either drop or modify some of the laws which had outlived their utility. The Commerce and Industry Minister asked the manufacturers to look for exports in the neighbouring countries. Though India is the second largest cement producer in the world, its share in the global cement trade is less than five per cent. India exported less than four per cent of its production during 1999-2000. (UNI) |
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HM still open to giving stake to Mitsubishi NEW DELHI, Oct 23: The C K Birla flagship company Hindustan Motors Limited (HM) is still in favour of divesting a part of its equity to Mitsubishi Motor Corporation (MMC) "if it benefits the company". "We are open to the idea of giving part stake to Mitsubishi if the move benefits us. We will see what is in the organisation’s interest," Mr B K Chaturvedi, president of Hindustan Motors, told UNI here. "If the divestment gives us perpetual support in terms of technology, then we will go ahead with it." However, the company has not finalised a timeframe for effecting the stake sell-off. "Mitsubishi is undergoing a restructuring at present and Diamlerchrysler had recently picked up some stake in the company. We are first waiting for things to settle down before making any move in that direction," Mr Chaturvedi said. HM, which has technology agreement with Mitsubishi, had initially offered ten per cent stake to the Japanese car major. However, the proposal was later withdrawn by the company. Meanwhile, HM has no plans to discontinue its Ambassador model and expects the car to drive the company into a cash positive stage in the current calendar year. "If we are lucky, we will achieve cash breakeven this year and total breakeven in the 2001-02 fiscal," he added. Hindustan Motors posted about Rs 62 crore losses last year. The company is also dispatching a high-level team to Japan to negotiate with auto giant Mitsubishi for introduction of more models of the Lancer in India. The issue of more models from the Lancer family, including Cadia and Gallant, was discussed when a team of the Japanese car giant visited India earlier this month. "We are now following up the issue and I will take a team to Japan next month," he said, adding that during the Japan visit the HM team would meet top executives of Mitsubishi including its chief executive. The company is also planning to increase lancer indigenisation level to 70 per cent from the present level of 56 per cent by end of the current year and up to 85 per cent by the next year. The increased localisation level would help the company in cutting manufacturing costs by about Rs 40,000 per unit. HM has, for the present, dropped plans for a proposed venture with malaysian national car maker Perusahaan Otomobil Nasional Berhad (PROTON) to produce the mid-sized car ‘Wira’. The negotiations with PROTON were called off as the partners found the pricing of wira too close to HM’s existing premium model ‘Lancer’. "we found that the pricing of Wira was too close to Lancer and it did not make much business sense to put another model opposite lancer," Mr Chaturvedi said. "At this moment, we are not discussing any models. PROTON has to come back to us with an option...We will resume study when we have a workable model. The talks have ended for now and we do not have any workable model," he said. Though the partners do not yet have a workable model, Mr Chaturvedi said, HM is exploring the feasibility of introducing a regular mid-size model to be positioned opposite Maruti Esteem and Ford Ikon. The company is also open to foraying into the mass small car segment, but said, "probability for introducing a small car is very low". Meanwhile, HM is in negotiations with its technology partner Mitsubishi Motor Corporation of Japan to expand its product range with the introduction of a premium model and the famed sports utility vehicle ‘Pajero’, Mr Chaturvedi said. (UNI) |
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Coke, Pepsi use popular brands for Soda NEW DELHI, Oct 23: The two beverage majors Coca-Cola India (CCI) and Pepsico are now capitalising on their popular softdrink brands to vend Soda. While CCI is using its acquired brand ‘Gold Spot’ for vending Soda in Goa, Pepsico is marketing Soda in Punjab and Mumbai under ‘Teem’ and ‘Duke’s’ brands respectively. According to a CCI spokesman, the sale of Gold Spot Soda is limited to Goa and there are no plans to launch the Soda brand on a national scale. The company is also marketing soda under the Kinley brand name. "Gold Spot Soda is available in 250ml bottlesize and targetted at affordability with a price of Rs three a bottle as against normal price of Rs six a bottle." Pepsico has been marketing teem Soda in 300ml bottlesize in a few territories within Punjab. In addition, it also has the Lehar Evervess brand of Soda under its product portfolio, a company spokesman said. Meanwhile, CCI is planning to quench thirst on foreign soil with its cloudy lemony drink Limca. The brand has already been launched in the UAE, Oman, Qatar, Bahrain and Kuwait. Targetting young adults in the 20-25 years age group, the brand is available in pack sizes of 355 ml cans and 2.25 litre pet. While the concentrate is being sourced from India, bottling is being done locally, the spokesman added. This has helped the company achieve an export/import ratio of 5-to-1, or a surplus of 65 million dollars. Foreign exchange earnings generated by CCI has crossed the Rs 500 crore mark in 1999 itself, he added. The export turnover has been primarily generated by shipments of a number of agricultural products to over 25 countries. Commodities such as green coffee, black pepper, sesame seed, and black tea have driven foreign exchange generation. Products such as glass bottles, plastic crates and trucks as well as filled beverages have also figured in the range of products from India, sourced by overseas bottlers of the Coca-Cola company. (UNI) |
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Asia Cyber Net to launch wireless portal NEW DELHI, Oct 23: Asia Cyber Net, a leading web and wireless solutions provider, today announced the launch of a comprehensive wireless portal to facilitate easy and instant access of personal and business information to mobile users. This in-house designed product, christened, www.Wap-hop.Com, has both web and wireless face. The emulator,which is stitched on to the web-based portal, gives a near mobile phone experience and enables a total wireless experience through integration of applications and services. According to Mr Sanjay K Goyal, the company’s founder and CEO, wap-hop has been conceived and built keeping in mind the localised and personalised information and application requirements of mobile phone users. Its deliverables include innovative applications like instant massaging,email access, a virtual wap-phone (emulator) or telenet, all accessible from any wap compliant mobile phone. The portal also includes everyday information like news, stock quotes, reminders, address book, astro, jokes and quotes. (UNI) |
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Farooq lays foundation of Maruti outlet Excelsior Correspondent Udhampur, Oct 23 : The Chief Minister, Dr.Farooq Abdullah laid the foundation stone of Maruti Dealership outlet at Udhampur today. The Chairman J&K Bank Mr.M.Y.Khan, Devinder Singh Rana, Managing Director, Pathankot Vehicleades Maruti Udyog, Mr.Arvind Saxena, General Managar, Sales Maruti Udyog, New Delhi, among other , were present. Speaking at the function, the Chief Minister expressed his satisfaction over the opening of outlet and said that Udhampur town is likely to grow industrially with the extension of railway line. He called for preparing a master plan of Udhampur town and town planning for 40 years. He sought the cooperation of local people in this respect. The Chief Minister expressed his best wishes for this industrial venture and hoped that this will go a long in meeting the local demands of maruti cars in the area .He asked the bank authorities for liberal loanings to the business community as lack of working capital is a hurdle for setting up an industrial unit. Dr.Abdullah said that buyer and seller meet like the one held at Srinagar would soon be held at Jammu also . He said that the State has skill and potential for producing best quality of goods which can be exported. It only needed the support from the government,he added. The Chief Minister extended his greetings to the people of the State on the eve of Diwali and wished that this auspicious occasions may bring peace, prosperity and goodwill in all the sections of society. The Chairman , J&K Bank, Mr.Khan said that Maruti out let was a model to be set up at Udhampur. Heads of different social organisations, prominent businessmen and senior district officers were present on the occasion. |
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KMCL announces 25 pc
interim, Q2 net NEW DELHI, Oct 23: The Board of Directors of Kinetic Motor Company Limited, formerly Kinetic Honda Motor Limited, has announced a 25 per cent interim dividend having registered a 220.48 per cent surge in net profit for the quarter ended September 30, 2000. Net profit for the quarter stood at Rs 6.57 crore as against Rs 2.05 crore a year earlier. The interim dividend payout amounted to Rs 3.76 crore. Net sales for the quarter was up by 15.05 per cent at Rs 121.35 crore as compared to Rs 105.47 crore a year earlier. Other income has risen from Rs 86 lakh in the third quarter last year to Rs 1.9 crore this year. (UNI) |
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NSC ask RBI, MOC to
reconcile export- import NEW DELHI, Oct 23: The National Statistical Commission (NSC) today regretted the mismatach in export and import data of Commerce Ministry and Reserve Bank and said suitable solution must be found to rectify the differences. "The need for reconciling the data on exports and imports between the DGCI&S and RBI continues to exist ... RBI and Ministry of Commerce must come up with a suitable solution," the Commission Chairman C Rangaranjan said at a conference of Central and State Statistical Organisations here. The reconciliation could be done by quantifying the differnce between the receipts in foreign exchange and actual exports, he said. The former RBI Governor said the apex bank should also be entrusted with the "special responsibility" for providing data on export and import of services. "While some break-up of services is available in Balance of Payment (BOP) data, a more detailed classification will become necessary as this sector grows in importance," he said. Rangarajan also pointed out the lacunae in the data collection from industry and suggested "a complete census of all companies". "Department of Companies Affairs (DCA) needs to make necessary arrangement for receiving full information from the corporate sector, and if required, suitable modification may be done in the existing Companies Act," he said. (PTI) |
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Rangaranjan for introducing reforms in statistical system NEW DELHI, Oct 23: Dr C. Rangarajan, Governor of Andhra Pradesh and chairman of the National Statistical Commission, today called for introduction of reforms in the administration of the Indian statistical system to tide over the present shortcomings. The content and presentation of reports generated by statistical authorities need improvement both in its coverage and in analysis, Dr Rangarajan said while inaugurating a two-day conference of central and state statistical organisations here. Each Ministry in the Centre and the states should have an analytical wing, which could use the available data and produce reports for use by policymakers. As statistical activities were manpower oriented, adequate focus on human resource development was necessary to sustain any reforms in the system. There was thus an imperative need to provide appropriate skill training to the statistical persons working at all levels and ensure adequate career prospects. Elaborating on the deficiencies and problems of the statistical system, Dr Rangarajan said there has been a trend of deterioration in the quality of data on crops, traditionally covered under the system of agricultural statistics. The conference, organised by the ministry of statistics and programme implementation, is being attended by members of National Statistical Commission and its sub-groups, and senior officials from Central ministries and state governments. It is aimed at strengthening the statistical system and would discuss specifically statistics regarding agriculture, national accounts, industry, commerce, corporate sector, prices, socio-economics, and services and infrastructure. Dr Rangarajan said there were several data gaps on new crops and ancillary agricultural activities. Despite having a scientific scheme, the Timely Reporting Scheme (TRS), the advance estimates of area under crops were sometimes made on the basis of eye estimates by the state agencies. "Till the final results are available, which is almost one year after the close of agriculture year, only rough estimates are available and that has been the reason for substantial revision in the estimates of agriculture production in some cases, giving doubt about its reliability. "In addition to the quality of data, large data gaps exist in the agriculture statistics, particularly with reference to the output of fruits and vegetables and other minor crops, estimates of meat and meat products and production of inland fish," he said. The reason for the declining quality of crop statistics has been attributed to the over-burdening of the primary reporters like the Patwari who was entrusted with several other responsibilities. The inputs for the Annual Survey of Industries (ASI), a census-cum-sample survey, were not being effectively done on a regular basis. These included maintenance, updating and revision of the list of registered factories. Although the submission of returns by the factories was mandatory under the collection of Statistical Act, 1953, this was not complied with in many cases, Dr Rangarajan regretted. Penal provisions under the act were also quite weak and hence did not serve as a deterrent for defaulters. "There is a need for regular updating of the ASI frame, since it suffers from non-inclusion of the new units and non-exclusion of non-operative units." Further, the data supplied by the Department of Industrial Policy and Promotion (DIPP) to the Central Statiscal Organisation (CSO) for compliation of Index of Industrial Production (IIP) consisted of large amount of estimation in respect of non-responding units and non-coverage of production of several new units. Another weakness of IIP was the inadequate information on samll-scale sector. "The reliability of these data is of uncertain quality, as the mechanism for updating the data is weak." Also, in the absence of reliable population numbers, the sample totals ‘’are blown up by imprecise multipliers resulting in inaccurate estimates of population parameters.’’ (UNI) |
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