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Investment-related THIRUVANANTHAPURAM, Apr 18: Kerala lacks the cutting edge in industry, despite some positive factors which help promote investment, including lower cost of production. A recent study by the Centre for Development Studies (CDS) here on the investment climate in three south . ......more Arunachal
urges Centre ITANAGAR, Apr 18: The Centre should relax some of its policies to attract foreign investors to Arunachal Pradesh’s power sector, State Power and Non-Conventional Energy Resources Minister Lijum Ronya today said. Talking to UNI, Mr Ronya said the state with its immense hydro power . ....more Foreign
investors NEW DELHI, Apr 18: As much as 51 per cent of multinational companies in India want to expand their operations, making use of the growth ...more |
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India exports 7.15 mt NEW DELHI, Apr 18: India exported 7.15 million tonnes of petroleum products including 2.2 million tonnes of diesel during the first nine months of financial year 2001-02. ..more Rice research project boon for Indian, Asian farmers HYDERABAD, Apr 18: In what would be a boon to farmers in India and Asia, a rockfeller foundation funded multi-institutional.........more SBI
chalks out ATM GUWAHATI, Apr 18: The State Bank of India has chalked out the most ambitious ATM instalation programme in the North East region.......more NEW DELHI, Apr 18: The Government will invite the price bids for the Indian Petrochemicals Corporation Ltd (IPCL) on April 29 by which time ......more |
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Investment-related activities poor in Kerala: CDS study THIRUVANANTHAPURAM, Apr 18: Kerala lacks the cutting edge in industry, despite some positive factors which help promote investment, including lower cost of production. A recent study by the Centre for Development Studies (CDS) here on the investment climate in three south Indian states, namely, Kerala, Karnataka and Tamil Nadu, revealed that Kerala fared moderately with regard to infastructure and the overall economic environment. However, the study said that Kerala, in terms of competitiveness, was behind the other two states. Investment and investment-related activities had been poor in Kerala, compared to Karnataka and Tamil Nadu, the study said. Significantly, the cost of production is less in Kerala than Karnataka or Tamil Nadu. Despite the low cost of production and the comparatively better economic environment, the state had failed to increase its share in the all-india industrial output. Also, the state’s competitiveness was slowly eroding, according to the findings of the study, released by the Confederation of Indian Industry (CII). In the beginning of the last decade, Kerala accounted for four per cent of the country’s total output. This came down to around three per cent towards the end of the decade. Kerala is also characterised by the existence of a twin industrial sector — the modern sector, which is small, and the traditional sector which is predominant. The sectors required technological upgradation, which called for collaboration and innovation. In the traditional sector particularly, investment as well as productivity were low. The study suggests formation of clusters to help production centered reorganisation of the industry in the state. The study, conducted by Mr K N Harilal and Mr Suresh Babu of the CDS, was based on five indices, including general economic environment, availablity of funds, extent of infrastructural facilities and cost of production. (UNI) |
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Arunachal urges Centre to relax policy for foreign investors ITANAGAR, Apr 18: The Centre should relax some of its policies to attract foreign investors to Arunachal Pradesh’s power sector, State Power and Non-Conventional Energy Resources Minister Lijum Ronya today said. Talking to UNI, Mr Ronya said the state with its immense hydro power potential failed to attract foreign investors due to some of the strict measures adopted by the Union Government for providing permission in mega projects’ investment. A foreign firm, willing to invest in any part of the country, had to obtain external economic as well as environment and forest clearance from the Central Government. This official procedure hinders the total process, the minister said adding the State Governments should be empowered to take decision in such matters. He said, according to the state power policy on hydro power generation, private sector participation (both Indian and foreign) would be encouraged in the development of hydro electric and gas-based power projects in the state. The private sector companies could opt for such projects on Build Own and Operate (BOO) or Build Own and Transfer (BOT) basis, Mr Ronya stated. However, in both cases, private sector companies would finance the project and 12 per cent power generated would be supplied to the State Government free as water royalty, the minister informed. The state also reserved the right to purchase power over and above the free share. Mr Ronya said the state at present purchased 33 mw power from the North Eastern Electrical Power Corporation (NEEPCO) and five mw power from National Hydro Rower Corporation (NHRC). However, Arunachal Pradesh generated 32.5 mw power from its existing Mini Hydel Power Projects (MHP) and 16 mw from DG sets, he added. The state had commissioned eight MHPs during 2001-2002 with total power generation capacity of 810 kw and was planning to commission 15 MHPs with total capacity of 10.76 mw during 2002-2003. Besides, about nine MHPs with total capacity of 23.30 mw power were likely to be commissioned during 2003-2004, the minister stated. Regarding transmission of power from the recently commissioned Ranganadi Hydro-Electric Project (RHEP) in the lower Subansiri and Papumpare district of the state by NEEPCO, Mr Ronya informed that a 132 kv transmission line from RHEP power house was already connected to Nirjuli, 21 km from here. Besides, construction of a 400 kv line was completed and would be evacuated to the Power Grid Corporation of India after installation of the transformer which was delayed due to poor road communication, he added. However, power connectivity and regular power generation would take place after installation of the generator, Mr Ronya assured. On a short term basis, the power generated from this project could be utilised for Papumpare and lower Subansiri districts. As soon as transmission and distribution lines were completed it could be utilised in other parts of the state as well, the minister added. The State Government under the power sector reform was contemplating to reduce minimum loss due to technical snag and mismanagement. There would be system improvement like construction of various capacity sub-stations, upgradation of existing transmission lines, besides, minimum uses of manpower with qualified electrician and linesmen to avoid technical losses, Mr Ronya said. He said the state had a plan to complete cent per cent metering of high tension and low tension lines by 2005 and household metering would be completed by 2012. He further informed that the Government was planning to provide short term oriented training to officers and staff of the State Power Department for maintenance of sub-stations, power houses and transmission and distribution lines. Energy audit training would also be imparted to meter readers, he added. There would be cent per cent rural electrification in all the villages of the state by 2007 and cent per cent household electrification by 2012, the minister added. Mr Ronya said the State Government would not avail of any loan from Rural Electrification Corporation during the tenth five year plan keeping in view the heavy burden on the state exchequer. Rural electrification programme would, however, continue under Prime Minister Gram Yojana, he informed adding so far 2206 villages have been electrified in the state under the power sector reform and 1808 would be electrified by 2007. About the mega power project in Siang with an estimated power generation capacity of 19900 mw, the minister said the project was divided in two stage—one in Siang and the other in Subansiri. Both the stages would consist of three phase each, he added. Mr Ronya said NHPC, which is entrusted with the contract of executing the work, would submit Detailed Project Report (DPR) of the lower Siang dam of capacity 1700 mw power by June, 2003. However, the DPR for middle portion of the siang phase of capacity 700 mw would be submitted by June. The upper Siang Dam project of capacity 11000 mw had a height of 265 mt which would be reduced to 150 metre to avoid submergence of nearby villages, the minister said. In the lower Subansiri project of capacity 2000 mw, the NHPC had started infrastructure development like construction of buildings and approach roads to the work site. The execution of work on this dam would be taken under the tenth five year plan, he added. Work in the middle portion of the Subansiri dam of capacity 2000 mw and in the upper part with capacity of 2500 mw would also be executed under the tenth five year plan. The NHPC would submit the DPR by June to establish the first feasibility report, Mr Ronya said. (UNI) |
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Foreign investors plan to expand business in India NEW DELHI, Apr 18: As much as 51 per cent of multinational companies in India want to expand their operations, making use of the growth opportunities available in the country, according to a survey on Foreign Direct Investment (FDI). The survey, conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI), shows that 66 per cent of foreign investors feel that the Indian market offers good to average profitability, FICCI Secretary General Amit Mitra told reporters today. The FDI Survey 2002 covered 385 companies of Japan, the United States, Germany, the United Kingdom, Switzerland, France, Australia and Italy. The names of the respondents to the survey have not been disclosed at their request. However, it is understood that all the big players took part in the survey. According to the survey, the performance of foreign investors in India is satisfactory with 61 per cent reporting profits or break-even (36 per cent making profits and 25 per cent breaking even). This is more or less on the lines of the findings of the last year’s survey. Positives: The positive factors cited by the investors are conditions for market growth (72 per cent said it is good to average), funds flow (70 per cent said bringing in funds was quite easy) and quality and availability of skilled labour, with 96 per cent good to average rating. While 93 per cent of the respondents rated handling of approvals at the centre as good to average. However, in the case of states only 49 per cent opted for this rating. On policy framework, 63 per cent of respondents felt it is good-average, indicating that India’s policies are sound. Negatives: On the negative aspects cited by the multinationals are India’s image, tax regime, labour laws, regulatory framework, ground level hassles, procedural delays, international comparison and basic amenities. About 35 per cent said "very serious" efforts are required to improve it, while 43 per cent said the tax regime is a serious problem. Rationalisation of labour laws requires serious attention, according to 35 per cent of the respondents, while 48 per cent rated the regulatory framework as average and 52 per cent rated it as bad. (UNI) |
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India exports 7.15 mt petro products in Apr-Dec last fiscal NEW DELHI, Apr 18: India exported 7.15 million tonnes of petroleum products including 2.2 million tonnes of diesel during the first nine months of financial year 2001-02. Petroleum product exports in April-December of fiscal 2001-02 earned the country Rs 5844 crore of foreign exchange, according to the annual report of Ministry of Petroleum and Natural Gas released here today. India imported 59.405 million tonnes of crude oil worth Rs 46,559 crore in April-December of 2001-01. It imported 74.097 million tonnes crude oil during the entire financial year 2000-01 for Rs 65,932 crore. During the first nine months of 2001-02, domestic crude oil production was 24.015 million tonnes and 22,299 billion cubic metres of natural gas was produced during the period. In the year 2000-01 (April-to-March), domestic crude oil production was 32.426 million tonnes and natural gas production was 29,477 million cubic metres. State-run Oil and Natural Gas Corporation (ONGC) produced 6.491 million tonnes from onshore fields and 11.999 million tonnes from offshore operations dring April-December of 2001-02. While India continued to be a net importer of LPG, it was surplus in High Speed Diesel (HSD). The country imported 470,000 tonnes LPG in the first nine months of 2001-02, valued at Rs 595 crore. India also imported 2.269 million tonnes of naphtha (Rs 2375 crore), 197,000 tonnes of kerosene (Rs 217 crore), 807,000 tonnes of fuel oil (Rs 584 crore) and 261,000 tonnes of lubes (Rs 519 crore). (PTI) |
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Rice research project boon for Indian, Asian farmers HYDERABAD, Apr 18: In what would be a boon to farmers in India and Asia, a rockfeller foundation funded multi-institutional rice research project is likely to make available improved drought-tolerant rice for breeding in the next couple of years. Disclosing this to newspersons here yesterday, coordinator of the rice biotechnology project-India, Prof A R Reddy, said the drought-resistant varieties would be made available through ICAR. Apart from the University of Hyderabad, the other five institutions involved in the project Are: Tamil Nadu Agricultural University, Coimbatore, University of Agricultural Sciences, Bangalore, Indira Gandhi Agricultural University, Raipur, Chattisgarh, Acharya Narendra Dev University of Agriculture and Technology, Faizabad and the International Crops Research Instititute for Semi-Arid Tropics (ICRISAT), Hyderabad. Prof Reddy said the project by using a right mix of conventional, molecular and cutting-edge genomic technologies was in the process of a breakthrough in the rice genome, associated with drought tolerance. He said drought was a major hurdle for rice production in India and most of Asia. Eastern India accounted for more than 30 per cent of the drought-prone rice growing areas of Asia. It is estimated that on an average, anywhere between 5000-10000 ltr of water was required to produce a kg of grain. The total water available for agriculture worldwide is about 80 per cent and this had to be brought down to about 60 per cent as per the UN recommendation. Prof Reddy said by utilising various advanced scientific methodologies, the research group at the University of Hyderabad had developed innovative approaches for discovering new genes responsible for drought tolerance. Recently, a coding gene bank was made of rice consisting of more than 20,000 clones from drought stressed rice leaves. Of these, 25,000 clones were sequenced and deposited in the genebank for global usage. They had also characterised a large number of drought responsive genes and located a number of them on rice chromosomes and defined their function using advanced molecular biology and bioinformatics techniques. He said the interdisciplinary and multi-institutional team was working towards developing rice varieties for water-limited areas. The network project had made rapid progress and was aimed at taking the fruits of research to farmers’ fields through the national rice network program of ICAR. It had generated formidable in-country expertise in cutting-edge technologies and valuable genetic materials for further research. (UNI) |
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SBI chalks out ATM instalation programme for NE region GUWAHATI, Apr 18: The State Bank of India has chalked out the most ambitious ATM instalation programme in the North East region. According to SBI local head office here, SBI had pioneered the largescale setting-up of the state-of-the-art touch screen multi-functional ATMs. The bank had also gone in for innovative dip card technology for greater security and convenience to the customers. Installation of SBI ATMs at Shillong, Agartala, Imphal, Aizawl, Dimapur, Kohima, Itanagar, BRPL Complex, Nagaon, Tezpur, Dhubri, Duliajan, Dibrugarh, Tinsukia, Numaligarh, Jorhat and Silchar are at varous stages of completion. Another six SBI ATMs are likely to be added to the existing network of seven SBI ATMs in Guwahati. With networked ATMs installed at seven convenient points in Guwahati already, the customers will have a lot of advantage. The most important advantage is that the customer will have access to these transactions round the clock throughout the year and even during holidays. In its aggressive drive for deployment of Automated Teller Machines (ATMs), the SBI had put in place a record number of 764 ATMs in one year to reach a figure of 1017 ATMs — the largest number of installed atms in the country. What is particularly trailblazing is the effort put in during the five weeks from March 8 to April 11, 2002, when a record number of 541 SBI ATMs were installed across the country. Such an intensive tech drive had been unheard of in the annals of banking in India. Apart from the number of ATMs, SBI had also taken this customer-centered technology all over the country — from metros to small towns to remote places in over 450 centres, covering places from A to Z, from Aligarh to Zuarinagar. (UNI) |
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NEW DELHI, Apr 18: The Government will invite the price bids for the Indian Petrochemicals Corporation Ltd (IPCL) on April 29 by which time negotiations for the disinvestment of the Government stake in Maruti Udyog Ltd are also likely to be completed. The Cabinet Committee on Disinvestment (CCD) will meet after the budget session of Parliament and finalise the strategic sale of IPCL and a few others, Disinvestment Minister Arun Shourie told reporters here today on the sidelines of a luncheon meeting with the heads of African missions. "Work is on for 32 Public Sector Undertakings (PSUs). IPCL bids would be on April 29 by which time I hope Maruti negotiations would also be completed," Mr Shourie said. IPCL and MUL are in advanced stages of disinvestment. While the stage is set for the price bids of IPCL, the Government has been negotiating with Suzuki Motor Corporation, an equal joint venture partner of the Government in MUL. Earlier in his address to the African heads of missions, the Disinvestment Minister said the Government had completed 18 disinvestment transactions grossing in Rs 7145 crore. Against the value realisation of Rs 7145 crore, the Government sold its equity of Rs 740 crore. The price to earning ratio for these deals ranged between 11 and 67. The average dividend from the companies sold was minus Rs 102 crore. "If the Government puts Rs 7145 crore in the bank, it would earn an annual interest of Rs 750 crore," Mr Shourie said. He said the financial position of the Centre and the State Governments had become so precarious that the disinvestment would be imperative irrespective of the party in power. (UNI) |
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