Amarinder opposes proposal to end MSP

CHANDIGARH, Nov 30: Punjab Chief Minister Amarinder Singh today opposed the reported proposal of the Centre to do away with the Minimum Support Price (MSP) of crops saying the abolition will lead to "social chaos" as the farmers would not get remunerative prices.

Speaking at the inaugural function of Agro Tech 2002 organised by Confederation of Indian Industry (CII), Singh said, "we need the MSP for 10 more years during which period we would like to introduce diversifaction in cropping pattern from wheat and rice to oilseeds, dairying and horticulture".

He said Punjab would collapse if their is no MSP. "This year paddy growers lost 40 per cent price due to delay in announcement of MSP for paddy by two weeks", Singh said.

He said that the contribution of the industry was also needed as a catalyst if you want to bring about a change in agriculture sector. "Grain after grain has tired the soil", the Chief Minister said adding Punjab looks to cooperation from any sector of industry for whom the state would ensure a congenial, industry friendly and workable atmosphere free of red tapism.

Singh called upon industrialists to come to Punjab as they would be giving a boost to the agriculture sector in its efforts to diversify. The state has lot of scope in dairying, food processing, agro-good and related sectors, he added.

Amarinder Singh called upon the Multi National Companies (MNCs), especially those engaged in the field of agro-processing and agri business, to set up their industrial ventures to boost Punjab’s agrarian economy.

He said that he endeavored to implement the plan of diversification of agriculture way back in 1985 when he was state Agriculture Minister but as the luck would have been the concept did not materialize.

Singh said that when he took reins of Punjab as Chief Minister he once again accorded top priority to his unaccomplished diversification agenda.It was really an irony of the fate that the Centre was spending an exorbitant amount of Rs 5000 crore annually for the up-keep of food grains where as the state Government had made a plea to the Centre to give Rs 1280 crore annually to bring one million acres of agricultural land under diversification in the state.

This proposition would be far more remunerative and viable to our farmers due to their inherent qualities of easy adaptability towards innovative technology, he added.

Referring to the implementation of the diversification of agriculture, Singh said that earnest efforts had been undertaken by launching contract farming and creating a favourable atmosphere for the popularisation of alternate remunerative crops such as maize, baby corn, barley, sorghun, pearl millets, canola, castor, groundnuts, vegetables and fruits especially citrus. As many as 12000,2000 and 800 acres had been brought under hyola seeds, winter maize and barley respectively.

Singh also sought cooperation and technical know-how from the MNCs to develop dairy sector in the state as Punjab ranked 13th amongst the states in the country in terms of cattle wealth but ranked number 2 in terms of milk production.

He said that with the latest techniques of embryo transfer the quality of milch cattle could be improved considerably and Punjab would soon emerge as front-runner in the milk production and consequently in dairy products too.

He also urged the MNCs to come forward to set up catchment area to encourage the production of high value added cash crop i.e. tomatoes and chilies to benefit our farmers considerably.

The Chief Minister revealed that Punjab Government would soon unfold its new industrial policy which would be less regulatory, more facilitating and investor friendly. The policy would be devised to provide single window clearance service without the bottlenecks of red-tapism in real terms. (PTI)

Punjab CM invites investment in agri-sector

CHANDIGARH, Nov 30: Punjab Chief Minister Capt Amarinder Singh today invited industry to invest in agri-business in his state, offering to do "everything in his power" to smoothen the path to its entry.

Speaking at the inauguration of Agro Tech 2002 organised by the Confederation of Indian Industry (CII) here, Capt Singh specifically invited investments in the sugar sector and in embryo transfer technology for the dairy industry.

Stressing that the Punjab farmer was innovative and progressive, he assured industry that ventures in crop diversifcation and contract farming would reap good benefits in Punjab. He said his government had already initiated activities in oilseeds, citrus fruit and pulses and promised to end "Inspector Raj’ by disbanding the 48 inspectorates that have been the bane of industry."Industry has to serve as a catalyst for growth in the agri sector and thereby the entire economy", Capt Amarinder Singh said adding that the new industrial policy, due out any day now, would have a bona fide single window, manned by hand-picked officials to ensur that investors requirements were addressed quickly. (UNI)

Decision on divestment in Oil PSUs may be delayed

NEW DELHI, Nov 30: A decision on divestment in oil PSUs - HPCL and BPCL - may be delayed further as Disinvestment Ministry is yet to get a formal note on any meeting in view of the December 7 deadline set by the Cabinet Committee on Disinvestment.

When asked about the progress on the front of sale of Government equity, Disinvestment Minister Arun Shourie told reporters that this would depend on Prime Minister Atal Behari Vajpayee and Deputy Prime Minister L K Advani.

On the deadline of December 7 for taking a decision on sale of equity in Hindustan Petroleum and Bharat Petroleum, Shourie, who is slated to reply to a debate on divestment in the Rajya Sabha next week, said "no note has come to me on this.

"Everybody says there must be a review or a course correction but no alternative has so far been worked out..One or two letters were sent to us. We have responded with our views to the PMO", he added.

Following differences on the issue of mode of sales of equity in the two oil PSUs, the CCD had decided on September 7 that the matter would be discussed further and a decision on this was deferred for three months. (PTI)

India hits out at EU after losing bed linen case in WTO

NEW DELHI, Nov 30: In a strong reaction to losing a case in WTO against the European Union on the issue of anti-dumping duty on the bed linen, India today hit out at EU saying it is targetting the Indian exports for barriers.

There is a feeling in India that the EU is targetting India out of proportion in terms of the number of cases pitted against it. We fail to understand why we are being singled out, Commerce and Industry Minister Arun Shourie said here.

However, he said that in the trade negotiations, losing and winning was a continuous process. He told newspersons that the bed linen issue had been taken up by Prime Minister Atal Behari Vajpayee during the recently held India-EU summit at Copenhagen.

Tens of millions euro worth of Indian bed linen exports faced anti-dumping duty in the EU in 1997 which argued that its domestic industry was suffering an injury.

But in 2001 the WTO ruled that the technical aspects of the EU anti-dumping measures broke trade rules and the bloc took steps to comply with the decision.

However, India launched another case to protest against the EU’s implementation of the WTO findings.

With its recent findings, the implementation panel of WTO has rejected all eight claims brought forward by india confirming European Commission’s approach to implementing the recommendations of the dispute settlement body. (UNI)

Asian Rubber Forum formed

NEW DELHI, Nov 30: The first Asia Rub Tech Expo 2002 concluded today with the formation of the Asian Rubber Forum, the first of its kind intra-continental industrial forum.

The Forum will be open to participation from various rubber organisations of different Asian countries, providing a focal point for exchange of information, technology and education on the rubber industry. It will have representatives from China, Korea, Sri Lanka, Taiwan, Indonesia, Nepal and India.

With Asian countries constituting around 40 per cent of the global natural rubber consumption and growing at much faster rates, this forum would be a critical platform to discuss and decide the future of natural rubber industry.

According to Mr S N Chakravarty, Chairman, Indian Rubber Institute, which organised the expo in association with the Indian Rubber Manufacturers Research Association, the idea of the forum was born at Seoul during the International Rubber Conference 99.

The expo provided the Indian rubber industry an opportunity to have a glimpse of the international achievements in the field of rubber and allied areas, interact with the latest technologies available and identify major thrust areas for future growth to face the challenges offered by liberalisation and globalisation of the Indian economy, he said. (UNI)

RBI agrees to review CRR limit amount to be met daily

MUMBAI, Nov 30: The Reserve Bank of India (RBI) has agreed to review the stipulated limit of 80 per cent of the required Cash Reserve Ratio (CRR) amount to be met on a daily basis.

In a meeting with bank chairmen and treasury heads here today, RBI Deputy Governor Rakesh Mohan made an assessment of the impact of the first stage of prudential limits on borrowing and lending operations of commercial banks in the call money market that was implemented from October five, 2002.

The meeting assumes importance in the light of the fact that the RBI is in the process of implementing the second stage of the prudential limits with effect from the fortnight beginning December 14.

While there was a unanimous agreement regarding the implementation of the second stage, bankers expressed concern that the stipulated limit of 80 per cent of CRR amount could lead to a certain level of inflexibility in their funds management.

Bankers also emphasised on early resolution to uniform documentation and issues related to rollover of repos and broad-basing the eligibility of repoable securities.

The Deputy Governor agreed to examine the issue, the bankers said. (UNI)

Uttaranchal Governor invites industry to invest in agri sector

CHANDIGARH, Nov 30: Uttaranchal Governor Surjit Singh Barnala today invited the industrial entrepreneurs from within and outside the country to set up agro-based units in the state.

In his inaugural address at the Agro Tech 2002, being organised by the Confederation of Indian Industry (CII) here, the Uttaranchal Governor highlighted the distinct advantages of the state from the point of view of agri-business.

In the food processing sector, he said, Uttaranchal has been looking forward for investment for ensuring value-addition to the off-season fruits and vegetables.

Citing a positive example for the agro-industry, Mr Barnala said that the State Government had been able to evolve a system by which the tea growers with holdings of even less than an acre of land were now able to find an appropriate marketing agency in the private sector.

He said the state had encouraged private entrepreneurship by inviting research institutions and leading manufacturers of ayurvedic and unani medicines to work in partnership with the Horticulture Department.

The Uttaranchal Governor said that the Pant Nagar University’s new biotechnology initiative was striving to put the state in the forefront of new agricultural revolution, which would address te issues of ecological sustainability as well.

"Cone to Uttaranchal, to the unpolluted environs of the Himalayas, talk to the people, meet our farmers, see the different agro-climatic zones, touch and feel the wide range of flowers and plants that grow both on the farmers’ fields and in wild abundance, and take a decision about joining hands with us (Uttaranchal)," he told the elite gathering of industrialists at the inaugural session. (UNI)

Efforts to reduce bank charges on exporters

NEW DELHI, Nov 30: Banks are teaming up for reviewing different charges imposed on exporters as part of efforts to make Indian exports competitive.

The Indian Banks Association (IBA) has put in a team to look into these charges, which include pre shipment and post-shipment and processing fees.

"We are willing to go further and look at the possibility of reducing transaction costs. One has to look at the costs of the deposits. As inflation rate is constant, it is possible to consider reviewing transaction costs," IBA Chairman Dalbir Singh told an interactive session on banking organised by the Federation of Indian Export Organisations (FIEO).

Some important announcements were also made by ECGC Chairman and Managing Director P M A Hakeem on the occasion.

The IBA Chairman pitched for higher penal charges in case of default. "For every default there should be penalties as was the rule of life," he said.

He asked the exporters to form a social group for putting pressure on defaulters to pay, citing the fact that recovery was 100 per cent in the case of Self Help Groups (SHGs).

"I do not think collateral is a big issue since the business and banks are bound by trust and credibility," he said.

Mr Dalbir Singh regretted that banks were not taking stock audit seriously. (UNI)

Indian Embassy calls for setting up trade centre in Sharjah

DUBAI, Nov 30: The Indian Embassy has recommended that the India Trade Promotion Organisation (ITPO) should explore the feasibility of setting up a ‘permanent display centre’ in Sharjah to boost exports to the Gulf region on the lines of China and Malaysia.

The ITPO closed the Indian trade centre in Dubai last year after keeping it in operations for about 12 years. China has opened a permanent Chinese machinery exhibition centre and a China trade centre in Sharjah.

In a proposal to the Federation of Indian Export Organisations (FIEO), the Embassy also suggested that the Agricultural and Processed Food Products Export Development Authority (APEDA) should sponsor a delegation to the UAE and organise festivals to promote specific products such as fruits and vegetable, Khaleej Times reported.

The Indian mission noted that there is a decline in the export of project goods to the UAE and drew the attention to the 100 million Dhiram set up by the UAE Government to encourage and support UAE nationals to start small and medium-sized businesses. There is good scope for export of complete sme projects to the UAE, other countries in the Gulf region, and Africa, the mission said.

The Embassy said there is great potential for enhancing exports of Indian pharmaceuticals to the UAE. The pharmaceuticals market in the UAE is expected to grow at the rate of 10 to 15 per cent annually.

Looking at the size of the market, Indian pharmaceutical companies should consider investing in the UAE for setting up joint ventures which will help in marketing their products in the uae and other AGCC countries, it said.

It also said there is great scope for increasing export of Indian goods and services in the it and communications sectors to the UAE. Trends like project automation, e-Government, e-commerce, e-banking and e-learning are clearly visible, and UAE’s effort to become the hub of software development further enhances its ICT potential.

The big names of India like Satyam, Wipro, Infosys and TCS are all present in UAE and are winning some of the projects. However, a joint effort of the Indian IT industry as a whole is needed. For this, NASSCOM and ESC will have to bring the various forces together and work on a common plan of action so that the huge potential could be tapped, the Embassy said.

To counter competition from other countries, the mission said Indian industry may consider introducing low-priced consumer products in the market on the one hand and on the other develop branded items in certain niche areas in categories like jewellery, readymade garments, plastic and metal articles, and agriculture and food products.

India had been among the top trading partners of UAE with total exports in 2000-01 crossing the 2.59 billion dollar mark, about 24 per cent more than the previous year. Officials said India’s exports to the West Asia-North Africa region during April-July 2002 showed an increase of 29 per cent over the same period in the previous year. (UNI)

HPCL, BPCL sell off: Shourie leaves it to PM, Dy PM

NEW DELHI, Nov 30: A week before the deadline for the review of the disinvestment of the oil companies, Disinvestment Minister Arun Shourie today said it was up to Prime Minister Atal Behari Vajpayee and Deputy Prime Minister L K Advani to take a decision on selling the Government stake in HPCL and BPCL.

The Cabinet Committee on Disinvestment (CCD) which had met here on September seven, had deferred the controversial decision on the disinvestment of the oil companies after a strong opposition was voiced against it by senior ministers.

Mr Shourie told reporters his ministry had not received any note on any further course of action on disinvestment of the oil companies.

The Disinvestment Minister said the due diligence in the NALCO was not taking place since officers and bidders were roughed up during their visit to the plant in Orissa.

He said the incident of roughing up was also a reflection on the centre-state relations.

Mr Shourie also took the corporate houses to task saying their rivalry had come in the way of Government functioning. (UNI)

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