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| Rs 19,000 cr for
development plans, says BSNL chief JAIPUR, May 6: The Bharat Sanchar Nigam Limited (BSNL) has earmarked Rs 19,000 crore for ......more CII for second KOLKATA, May 6: The Confederation of Indian Industry (CII) has expressed confidence that a ......more Pak faces tighter LONDON, May 6: Pakistan faces higher level of sanctions and prospects of "full suspension" of .....more Indian IT talent is WASHINGTON, May 6: Indian software industry is "mature and formidable" and though IT provides ....more |
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ATEC Computer Excelsior Correspondent JAMMU, May 6: Mr Ram Sahai, President Chamber of Commerce and Industry today inaugurated the ATEC Computer Education Centre at Gandhi Nagar ........more Panel asks Govt to NEW DELHI, May 6: A parliamentary panel has asked the Government to play a more "pro-active".....more Malaysia to ask KUALA LUMPUR, May 6: Malaysia will urge India to cut tariffs on imported palm oil when Prime ......more No need of Patalganga, MUMBAI, May 6: The axe seems to have finally fallen on the much delayed Reliance Industries ...more |
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CII for second generation reforms at state level KOLKATA, May 6: The Confederation of Indian Industry (CII) has expressed confidence that a political controversy like Tehelka would not derail the economic reforms process and called for launching second generation reforms at the state level. "We believe Tehelka is behind us. There will be such issues which will keep coming up in a democracy, but we seriously believe that economic agenda pursued by the Government, shall be pursued by the Government and all major political parties have no difference of opinion on it", the newly elected CII president Sanjiv Goenka told PTI here. When reminded that Tehelka controversy was one of major factors for the recent stock market crash and had seriously threatened the passage of the budget, the CII chief said, "the finance bill was passed ultimately, we are not concerned under what circumstances". CII, he said had been increasingly interacting with different political parties to create a greater consensus on economic issues and, "we are getting very good response". 41-year-old Goenka, the yougnest CII president, also rejected the demand by a section of the industry for protecting Indian industry, but called for immediate launch of second generation economic reforms at the state level. "We are not for protecting Indian industry", he said but the Government has to look at the fact that the Indian industry has to incur certain cost which are due to Government policies and called for state level reforms specially in the State Electricity Boards, which are "bankrupt". (PTI) |
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| Pak faces tighter sanctions,
full suspension from C’wealth LONDON, May 6: Pakistan faces higher level of sanctions and prospects of "full suspension" of Commonwealth membership if it fails to announce the schedule for democratic elections in the country before the Commonwealth Heads of Government Meeting (CHOGM) Brisbane in October, Commonwealth sources said today. "If Pakistan fails to announce date for elections before chogm, there is a good chance of its full suspension from membership and even if it does announce a date and the date remains October 2002, there will be pressure from a number of countries to have sanctions, a higher level of sanctions," they said quoting the Commonwealth Ministerial Action Group of Foreign Ministers (CAAG). Though for long, the Commonwealth has stressed speedy restoration of democracy, signals emanating from Islamabad are "don’t tell us what to do, we will do at our pace and what we judge is in the best interests of our country...That democracy has done disservice to Pakistan," the sources told PTI. It is a very dangerous argument and the Commonwealth leaders have effectively rejected it, they added. "The next step will be suspension of membership - its name will not appear any more in commonwealth conferences and its flag will not fly in commonwealth meetings and NGOs will have injunction in dealing with it," they said. Pakistan is currently suspended from the Commonwealth Council and cannot participate in official meetings -ministerial, official and inter-Governmental - but can take part in Commonwealth Games, cultural events and NGOs continue to have links with the country. India has been pressing for implementation of the millbrook action programme which stipulates a two-year time-frame for restoration of democracy (in countries) where institutions are not in place to permit holding of elections, the sources said. A maximum of six months are given to states where institutions such as Election Commission and voters list are in place. Pakistan has an Election Commission, though the voters list is stated to be faulty. "India is making the point that if you have a millbrook action programme, then you implement it. You can’t seem to be going against a code of conduct that you have agreed upon," they said. As a prelude to CHOGM, Commonwealth Secretary General Don McKinnon will undertake a four-nation tour from tomorrow, starting with India, to discuss issues including restoration of democracy in Pakistan, constitutional rule in Fiji and topics currently being reviewed by a high-level group of which Prime Minister Atal Behari Vajpayee is a member. Besides India, McKinnon will visit Sri Lanka, Australia and New Zealand. (PTI) |
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Indian IT talent is formidable
but e-commerce WASHINGTON, May 6: Indian software industry is "mature and formidable" and though IT provides a technologically savvy work force, technological equipment and greater funding than other developing countries, e-commerce development faces many obstacles, according to national intelligence council. "Overall, the Indian economy is performing relatively well but economic growth has been hampered by high interest rates, a large fiscal deficit, inadequate infrastructure and political uncertainty, " it says according to a study paper. In information technology, says the study, India is a country of extremes. On one hand there is booming software industry, which brings in millions of dollars, while on the other hand there are underdeveloped and unreliable telecommunications infrastructure. "Between these extremes, Indian officials are trying to develop a robust e-commerce business," the study paper prepared by consultancy Firm Booz-Allen for the Council says. Currently, India’s telecommunications network is one of the largest in Asia and is the country’s fastest growing infrastructure sector but, the overall infrastructure is not well-developed nor dependable. Currently, India’s internet usage is low. There are approximately 4.5 million personal computers in India and internet users are estimated to be less than one million. To encourage internet growth, the Government has instituted transparent internet regulations and policies, provided financial incentives, internet service providers and has leveraged the technical resources and know-how associated with the country’s booming software industry. India is striving, says the study, to create a globally respected IT industry, building on a strong labour base known for its high level of technical skills. However, a few Government actions, such as instances of enforcing current tax laws against e-commerce businesses have caused concern for those hoping that regulation will allow for optimal growth of e-commerce. The Indian infrastructure, says the study, both limits and encourages e-commerce growth. On one hand, most of the e-commerce sites have been set up by technically-oriented entrepreneurs who have no experience of the logistics involved in delivering products to distant areas. This has not yet posed a serious problem since the volume of transactions is small and most buyers are local city residents. However, as the e-tailing (electronic retailing) market grows in size, high delivery costs and logistical bottlenecks as well as regulatory requirements will act as major barriers, the study points out. On the other hand, setting up brick-and-mortar retail outlets in India’s major cities is costly because of high property prices and rentals. In comparison, it costs little to set up an e-tailing web site. A number of cultural factors will affect the willingness of individuals to accept e-commerce as a way of life in India, the study points out. Most shoppers are not comfortable buying items they are unable to see or touch, it adds. (PI) |
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ATEC Computer Education Centre inaugurated Excelsior Correspondent JAMMU, May 6: Mr Ram Sahai, President Chamber of Commerce and Industry today inaugurated the ATEC Computer Education Centre at Gandhi Nagar here. ATEC, a Multi-National Company (MNC) is having its origin in United State of America (California). It is a company dealing in software but since last three years it had made a remarkable place in the field of computer education for its courses in e-commerce, web designing, BCA, MCA, PGDCA (UGC recognised). Having a number of centres all over the India, ATEC Computer today put a step forward by launching one of its centres in Jammu. ATEC is coming as the master franchise which encompasses computer education, job placement services, study abroad, Canadian immigration as well as software development. |
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Panel asks Govt to be
pro-active, attain 1 pc NEW DELHI, May 6: A parliamentary panel has asked the Government to play a more "pro-active" role to ensure that India’s share in world trade increases to at least one per cent in the current financial year from the present level cdof 0.7 per cent. "In the changed scenario, the Government should play a more pro-active role to see that exports increase rapidly and india’s share in world trade goes up from the existing 0.7 per cent to at least one per cent in the current financial year itself," the Parliamentary Standing Committee on Commerce said. The committee, headed by Sikander Bakht, also asked the Government to attempt to increase India’s share to four per cent in the next three to four years which would be crucial for the country’s economy. Asking the Government to give a greater emphasis for development of Special Economic Zones (SEZs), the committee said these zones were expected to attract export-related investments, with world-class infrastructure as had been seen in the case of China. "The committee impresses upon the Government that the process for conversion of the remaining EPZs into SEZs may be hastened and operationalisation of SEZs be pursued with," it said, adding that it hoped the proposal for establishing SEZs would enable India to achieve the laid down objectives of achieving increased export growth. The committee also asked the Centre to ensure some mechanism to evaluate the achievements of the scheme. (PTI) |
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Malaysia to ask India to cut palm oil tariffs KUALA LUMPUR, May 6: Malaysia will urge India to cut tariffs on imported palm oil when Prime Minister Atal Behari Vajpayee visits the country next week, a minister said. Prime Minister Mahathir Mohamad has agreed to raise the matter with Vajpayee, Primary Industries Minister Lim Keng Yaik said yesterday. Lim, quoted by Bernama news agency, said India imposes import duty of around 92 per cent on palm oil but only around 51 per cent on soybean oil. "This has caused a discount for soybean oil to the tune of eighty dollars a tonne. At present, palm oil price of 220 dollars per tonne, a discount of eighty dollars is a lot of money," he said. Lim said he was confident the Indian Prime Minister, who starts a four-day visit on May 13, would be sympathetic to Malaysia’s case. He said Malaysia exported about 2.4 million tonnes of palm oil to India last year while Indonesia exported between 800,000 and 900,000 tonnes. Lim also expressed confidence that palm oil prices would rise later this year following Malaysian initiatives to cut its stockpile and production. Last week, Lim said Malaysia was nearing agreement with India and China on a multi-billion-dollar deal to swap palm oil for railway contracts. He was quoted as saying he expects the deal with India to be finalised during Vajpayee’s visit. (AFP) |
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No need of Patalganga,
Bhadravati power: MUMBAI, May 6: The axe seems to have finally fallen on the much delayed Reliance Industries promoted Patalganga and Ispat Industries’ Bhadravati Power Projects in Maharashtra as the State Electricity Board (MSEB) has firmly told the Government that ‘there is no need of these projects nor their power’. The loss-making board has communicated to the Government that MSEB had ‘no interest’ in Patalganga and Bhadravati, as it did not have escrow-able capacity and also that industrial demand for power had slowed down tremendously in Maharashtra, State Government sources told PTI here today. ‘In last November itself, MSEB had sent an official intimation to the State Government informing its decision in favour of cancellation of the two projects on several grounds including they being unviable and unaffordable,’ sources said. ‘Reliance’s project is no different from that of DPA’s. Patalganga is also Naphtha based and its PPA is on similar lines... After the Enron experience, MSEB cannot even dream of another gas-based power plant in the state’, a senior MSEB official said. He said MSEB has already asked the State Government not to provide escrow to both the 447 mw Patalganga and the 1,084 mw coal-based Bhadravati, as the US energy major has almost squeezed us of all over finances. When contacted MSEB chairman Vinay Bansal said, ‘Reliance and Ispat projects have been put on hold as per the godbole committee’s recommendations’, but expressed inability to give further details. Currently, Bhadravati and Patalganga projects have been put on hold as per godbole committee report, which was set up to review the DPC-MSEB PPA and energy scenario in Maharashtra. ‘Can you go ahead with the project without an escrow cover?’, the committee was believed to have asked Ispat and Reliance representatives, to which the reply had been negative, sources added. Sources said, as of now, both the projects have not been able to achieve financial closure as leading financial institutions were not willing to fund the projects which do not have a ‘guaranteed payment’ mechanism from mseb, which, incidentally it has promised to DPC. ‘All the three were cleared as ‘fast-track’ projects, but other than Enron, Reliance and Ispat have been caught in a quagmire, especially Bhadravati, which has been hanging afire since last nine years’, they added. Moreover, the MSEB official opined that given the current situation, if DPC calls it quits from India, Bhadravati was a safer bet than Reliance’s Patalganga. Patalganga’s power would be mere 50 paise less than that of DPC’s that ranges anywhere around approximately Rs 4.50 per unit to as high as Rs 7, while Bhadravati’s cost could be around Rs 3.80 to Rs four per unit, he informed. MSEB’s installed capacity ended March 31, 2001 was 14,000 mw and it has generated 45,000 million units with transmission and distribution losses as high as 39 per cent. (PTI) |
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