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NEW DELHI, Nov 22: With an aim to capture 40 per cent of the Rs 3,000...more
ASSOCHAM for immediate overhaul of sugar policy NEW DELHI, Nov 22: The Associated Chambers of Commerce and ..more Adopt cautious approach at Seattle negotiations: SJM HYDERABAD, Nov 22: Swadeshi Jagran Manch co-convenor ...more |
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Excelsior Correspondent JAMMU, Nov 22: The All India Punjab National ...more Biological E. Ltd introduces Coscoril tablets in Jammu Excelsior Correspondent JAMMU, Nov 22: Biological E. Ltd, a leading pharmaceutical company...more India becomes starting NEW DELHI, Nov 22: Mastercard International today ...more ITA asks Govt to go GUNTUR, Nov 22: Perturbed over Government attempts ...more |
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NEW DELHI, Nov 22: With an aim to capture 40 per cent of the Rs 3,000 crore digital consumer electronic and white goods market next calender year, LG Electronics India will come out with a range of products and raise expenditure on promotional schemes. Newly appointed head of company’s marketing and sales Ajay Kapila told UNI here that to boost the company’s sales, LGEI will increase outlay on promotional scheme from Rs 15 crore this year to Rs 18.2 crore next year. Almost 40 per cent of that expenditure will be spent on advertising and rest on other awareness programmes for the company’s products, he said. However, the company will not sign any eminent personalities to endorse its products as it firmly believes that new launches will themselves be certificates for their quality, Mr Kapila claimed. At the same time, LG expects to capture 15 per cent of Rs 900 crore digital colour tv market in the country. As much as 20 per cent of sales from CTVs will come from the company’s flatron models. Overall, the company is targetting to achieve 70 per cent of consumer electronics and white goods market. To achieve these targets, the company will bring out 12 new models of digital CTVs, including three new models of 29 inch variety. Early next year, the company will also come out with internet TV. Besides, eight new models of washing machines would be introduced before July next year. There would be memory backup in these machines. Ten to 12 new models of ACs would also be launched. This would also include winter ACs, to be introduced for the first time in the country by any company. There would be anti-bacteria filter in these ACs as well. Four to five new models of micro wave ovens would also be introduced. LG has all the three varities of micro wave ovens in its kitty—solo model, grill variety and covector variant. LG has tied up with financial companies, including countrywide finance, for financing schemes for its products. The company has achieved 60 per cent indigenisation level in ctvs on an average and 70 per cent in overall consumer electronics and white goods. The company’s investment by this year-end would stand at 50 million dollars in its manufacturing facilities in Greater Noida since its operation in 1997. Another 50 million dollars would be invested by middle of 2001. By the then, the facility will be capable of churning out seven lakh ctvs, four lakh refrigerators, two lakh washing machines, one lakh air conditioners and five lakh microwave ovens per annum. In the second phase, from 2001 to 2005, lg will invest 100 million dollars to increase its existing capabilities in finished products. The company is envisioning a total investment of 289 million dollars over the next nine years. Besides, the company is planning to export products worth 100 million dollars in a ten-year period starting from the commencement of mass production in India. LG’s turnover this year is expected to be Rs 100 crore. The company has set a target to increase it by 40 per cent to Rs 140 crore during 1999. (UNI) |
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ASSOCHAM for immediate overhaul of sugar policy NEW DELHI, Nov 22: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for an immediate overhaul of sugar policy to provide a level playing field to domestic industry by reducing the percentage of sugar mandatorily procured from domestic producers from 40 per cent to 20 per cent, procurement for the PDS through open tender and review of the import duty structure to bring it in line with international norms. In a representation to Prime Minister Atal Behari Vajpayee ASSOCHAM president, K P Singh said, sugar in India carries one of the lowest import duties in the world thereby paving way for the sugar into India even in a year of surplus production. To make matters worse imported sugar is not subject to the same restrictions that domestic producers are subject to, such as distribution control. Mr Singh said while the sugar industry in India is required to supply 40 per cent of its production at a price lower than its cost to support the PDS system, in other industries, the Government bears this subsidy. Unfortunately, most of the subsidised sugar is illegally diverted to the free market and is purchased by bulk consumers at concessional prices and no benefits are passed on the targetted group. The Chamber chief has urged the Prime Minister to issue orders for implementing the recommendations of the Mahajan Committee and announcement of full decontrol of sugar next year. The Government should also urgently consider a hike in the effective rate of import duty from 27.5 per cent to 50 per cent. In the long term, Mr Singh said, the Government should prescribe reservation of cane areas on a systematic and permanent basis with a review mechanism, develop a futures market for sugar, allow flexibility in packaging according to consumer demand, decontrolsugarcane, molasses distribution, place greater emphasis on R and D and extension services for the farmer and allow smallcaptive plantations for the purpose and recognise sugar as a globally competitive food processing industry, rather than an essential commodity whose domestic price needs to be suppressed. Such measures, the ASSOCHAM president feels would end the perennial sugar cycles and provide stability to the consumers and the farmer. (UNI) |
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Adopt cautious approach at Seattle negotiations: SJM HYDERABAD, Nov 22: Swadeshi Jagran Manch co-convenor S Gurumurthy today urged the Centre to adopt a cautious approach at the Seattle negotiations in view of the developed nations’proposals for removal of quantitative restrictions on imports to the third world countries and those on agricultural trade. Addressing a press conference here, he said the Seattle round was a continum of the Uruguay round in 1986 and the Duncan Treaty in 1994, when the Indian Government had recklessly negotiated, affecting the country’s interests. He said proposals relating to labour standards, child labour, terms of employment, environmental standards and unrestricted import of automobiles at 40 per cent duty, coming up during the Seattle negotiations, would harm the country’s interests. No Indian car manufacturer would survive in the new regime, he added. (UNI) |
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Excelsior Correspondent JAMMU, Nov 22: The All India Punjab National Bank Officers Association, J&K Zone today staged a protest dharna in front of the Punjab National Bank, Regional Office at Gandhi Nagar against the suspension of one of the Assistant Manager and anti-employees behaviour of the Regional Manager. Officers from Kashmir Valley and other branches of J&K State participated in the dharna. Later, a massive demonstration was held in support of the demands. All the speakers condemned the unethical and unwarranted suspension of officer and demanded immediate revocation of suspension of the officer so that the employees working in the militancy infested, far flung and hilly areas of the country are not demotivated and demoralised which may effect the development and growth of the Bank. All the officers present on the occasion said in one voice that they are ready for any sort of the agitational course decided by the Association to defeat sinister designs of the Management. |
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Biological E. Ltd introduces Coscoril tablets in Jammu Excelsior Correspondent JAMMU, Nov 22: Biological E. Ltd, a leading pharmaceutical company in India with many global collaborations has introduced Coscoril tablets among eminent doctors of the city, here today. It is for the first time that such tablets have been introduced in Jammu. Talking to newsmen, Mr Goutam Acharya, the company representative from Hyderabad said that Coscoril not only takes care of symptomatic relief of cough and breathlessness but brings airway defense back in action. For over 40 years, Biological E. Ltd. has been working hand in hand with the medical fraternity with formulations that helps doctors in providing quality medicare. Doctors present in the function believes, Coscoril will be a great medicine for them in the treatment of cough associates with bronchospasm and breathlessness. During the deliberations in the introduction function, the doctors feel that 21st century offers a bright vision of better health for all. It holds the prospect not merely of longer life, but superior life with less disability and disease. As the new millennium approaches, the global population has never had a healthier outlook. However, such an optimistic view must be tampered by recognition of some hard realities. They said that each day our lungs are directly exposed to more than 10,000 liters of air which contain varying amounts of inorganic and organic particles as well as potentially lethal bacteria and virus. Yet for most individuals the lung remains clear and healthy. This is possible because of the unique lung defense mechanisms that is present in our body. |
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India becomes starting point for Mastercard NEW DELHI, Nov 22: Mastercard International today said it chose India for beta-testing its new electronic card along with Citibank. "We are announcing a global first in India", Mastercard International Senior Vice President and General Manager for South-East and South Asia Sonny Sannon said at a media presentation. Unlike the conventional embossed card, the new electronic card, allows better control of finances both for issuers and the card-holders. If the card-holder has exceeded his limit, the merchandise will not be able to serve him. The electronic processing gives the latest information without any time lag. "Electronic authorisation will bring speedier settlements", Citibank Chief Executive Officer said. "We prompted the Mastercard headquarters to launch electronic cards in India since we see a vast untapped potential among the middle class" Mastercard International Vice President and Country Manager South Asia Sameer Vakil said. He said based on the feedback from India, this product will be globalised. "It all depend on how it does here", he said. Mastercard has the highest market share of 53 per cent in India. (UNI) |
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ITA asks Govt to go slow on smoking curbs GUNTUR, Nov 22: Perturbed over Government attempts to ban smoking in public places, the Indian Tobacco Association (ITA) has instead asked the states to focus on basic necessities for the masses. The State Governments are working "too hard and too fast" in curbing smoking even while developed countries have not been so successful, ITA president B S Krishnamurthy alleged. Talking to reporters here, the ITA official demanded that the Government should give "a transition phase of 20-30 years" to curb smoking rather than "putting too much pressure in too short a time" on the industry facing uncertain times. Claiming that the growing measures to stop smoking in public places will "boomerang on the country itself", Mr Krishnamurthy said millions of workers and farmers will be displaced even as Government revenues from tobacco exports will hit the bottom. The ITA president was responding to the Kerala High Court’s recent order to ban smoking in public places and states like Rajasthan and Goa contemplating similar steps. He reeled out facts in favour of supporting the Indian tobacco industry : number of people dependent - three crore collective wages of 250 million dollars annually excise collections of 1.2 billion dollars. Acknowledging that smoking has ill-effects on health, Mr Krishnamuthy lamented that the industry is feeling the pinch of declining cigarette sales. Instead of outright ban on smoking, let there be a long-term education programme. "Tell the smokers not to smoke rather than those who are making a livelihood out of tobacco". He cited industry efforts to reduce harmful effects of smoking by controlling nicotine and tar content in cigarettes through research and development. For instance, Indian Leaf Tobacco Development Division of ITC Limited spends about a quarter of its earning from exports. On moves to impose restrictions on cigarette advertisements, Mr Krishnamurthy claimed that tobacco consumption has shot up in Norway, Sweden, Canada and Singapore after a ban on ads. The ITA official said even the farmers would not like to opt out of the tobacco cultivation as they do not have any alternate crops which would give similarly lucrative returns. (UNI) |
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