Daily Excelsior...Business

Centre objects to constructions near BPCL refinery

MUMBAI, Mar 22: Constructions on the western side of Bharat Petroleum Corporation Limited's .....more

BHEL completes first phase of capacity augmentation

TIRUCHIRAPALLI, Mar 22: The Bharat Heavy Electricals Ltd (BHEL) here, has completed its first phase of capacity augmentation in December 2007, to manufacture .....more

Packaged coconut water receives a thumbs up from consumers

BANGALORE, Mar 22: Amidst all the heat generated by the cola wars and the fizz created by their advertisement blitzkrieg, ........more

Cup of tea turns to
cup of woes

UDHAGAMANDALAM, Mar 22: People, particularly tourists, are agitated over ‘fleecing’ by hotels and tea shops, which charge Rs six to Rs 12 for a cup of tea in this famous tourist town. Taking umbrage over the recent hike of milk prices, tea shops and middle class....more

Those who say market
growth is irrelevant
enemies of poor: FM

MADURAI, Mar 22: Justifying UPA’s economic reforms, Finance Minister P Chidambaram indirectly.....more

Rs 310 cr package for
coffee growers

BANGALORE, Mar 22: Bringing respite to coffee growers, badly hit by low yield due to ageing crop, the Centre has announced a Rs 310 crore package for them.....more

Dharavi poised to
shed its ‘largest slum
in Asia’ epithet

MUMBAI, Mar 22: Rapid development planned at Dharavi here is poised to change the face of Asia’s largest slum.....more

VIP car went up in flames
while running

CHENNAI, Mar 22: An Ambassador car, belonging to the Madras High Court, today went up in flames apparently due to some mechanical malfunction. The car, assigned to a VIP with the siren lights, was being brought for filling fuel, when it suddenly caught....more

India on target to achieve an average 9 pc growth: Ahluwalia .......

US firm offers Rs 36 lakh pa salary to 20 students .........

AP aims at over 40 per cent growth in IT exports: CM ..........

Coffee growers get Rs 310 cr package from Centre in 11th plan ..........

Centre objects to constructions near BPCL refinery

MUMBAI, Mar 22: Constructions on the western side of Bharat Petroleum Corporation Limited's (BPCL) refinery in Eastern Mumbai has left both the company as well as the Home Ministry worried, because of the potential security threat.

Incidentally, this refinery was one of the targets in 1993 Mumbai blasts conspiracy, but it was spared because those who were supposed to throw grenades at it got jitters at the last moment, evidence collected by CBI suggests.

In the aftermath of 1993 blasts Government banned construction on the fringes of the refinery, but the ban was revoked in 2005 by the state government.

Now BPCL has moved the Bombay High Court, seeking freeze on construction activity in the area, because of potential security threat.

The refinery has been declared high security zone by the central government. BPCL has said in its petition that "with the terror perception growing, it is imperative to ensure security along the boundaries of the sensitive installation.."

This stand is backed by the Union Home Ministry also. It concedes, in affidavit, that "there can be a vital threat to the refinery if construcions are permitted," and western boundary should be kpet free of constructions.

The refinery, established in 1955, produces high-speed diesel, aviation turbine fuel and LPG, among other things.

Bhabha Atomic Reasearch Centre, another high-security installation, is situated close to the BPCL plant.

The Municipal Corporation of Greater Mumbai has been granted one week by the division court of Chief Justice Swatanter Kumar and Justice J P Deodhar. (PTI)

BHEL completes first phase of capacity augmentation

TIRUCHIRAPALLI, Mar 22: The Bharat Heavy Electricals Ltd (BHEL) here, has completed its first phase of capacity augmentation in December 2007, to manufacture 10,000 mw of power per annum at a cost of Rs 190 crore, BHEL Modernisation General Manager, S Karunankaran said today.

Addressing a press conference here, he said the work on the second phase for increasing capacity to 15,000 mw per year was progressing, with an investment of Rs 732 crore.

He claimed that the ongoing capacity augmentation would be adequate to meet the market demand, taking into account the Central Electricity Authority's capacity addition target of 78,577 mw for the 11th Five Year Plan (2007-2012).

The BHEL complex here achieved a record turnover of Rs 4,607 crore, nearly a quarter of BHEL's total turnover, in 2006-07 fiscal, with an all-time high PBT of Rs 872 crore, he added.

Modernisation, AGM, Gopinath said, since its inception in collaboration with Skoda Export of Czechoslovakia in the sixties, with an initial investment of Rs 24.50 crore, the boiler plant had adopted a strategy of continuous upgradation of its products and facilities in tune with emerging market demands.

Accordingly, between 1974 and 1984 the installed manufacturing capacity of the boiler plant had been enhanced three times, enabling it to supply boilers of unit sizes of 200 mw and above. During this period several unique facilities such as the 8,000 ton press, the 6 MeV Linear Accelerator, high productive system bender, semi-automatic flat-fin panel welding machine etc, were installed, he added.

He said since 1984 BHEL Tiruchirappalli had gone in for a series of product-oriented-investment schemes, based on anticipated market demands for specific products.

Modern facilities were set up for manufacturing utility and industrial boilers, heat recovery steam generators, heat exchangers, pressure vessels, headers, piping, forged steel valves and constant load hangers, he added.

The phase-one expansion brought in 63 different types of machines while the on-going phase-two works would introduce another 75 high productive machines, for raising the production capacity, he added. (UNI)

Packaged coconut water receives a thumbs up from consumers

BANGALORE, Mar 22: Amidst all the heat generated by the cola wars and the fizz created by their advertisement blitzkrieg, it is good old grandmother’s-recommended cool coconut water, albeit in tetra packs, that is making a come back on the healthy drink trail of Indian consumers.

"Demand for packaged coconut water is slowly but surely gaining momentum," Dr Vijaya Kumar, Deputy Director, Coconut Development Board said.

With health conscious consumers no longer finding it cool to be seen sipping aerated drinks, which have been mired in controversies over their content, it is the good old coconut water topping the charts in Indian medical literature and ancient medical practices, that is making a comeback, he said.

"Demand has been steadily growing in northern regions and in metros like Delhi and Mumbai," said Kumar.

An entrepreneur who has set up a coconut water manufacturing unit in Maddur in Karnataka ships nearly 40,000 tetra packs of coconut water monthly to Delhi.

While the domestic demand is witnessing a gradual high, the demand from overseas like Middle East is growing, he said.

The demand is also being fuelled by the hotel sector that now list a coconut water among its ‘welcome drinks’ on their menu. Tourists arriving after a tanned tour of cities are served with cool water to refresh those exhausted limbs.

It is not only the hospitality sector that has come to include this healthy drink on its menu, the health sector, including health spas that are recommending a glass of the clean cool water against a sip of other fizzy drinks.

"The Finance Minister P Chidambaram’s announcement of slashing excise duty on packaged coconut drinks in his budget is expected to give a fillip to the product," he said.

Currently, the price factor was one of the biggest impediment facing the Board, which is aggressively promoting sale of packaged coconut water, Kumar said.

"The price of tetra packs currently is around Rs 15 in many parts of the country and Rs 12 in Karnataka," he said.

With fresh tender coconut water being available at similar prices or little less, there were consumers who preferred to drink it straight out of the green nut.

However excise duty exemption of 16 percent was expected to bring down the cost factor, he said.

The advantage that the tetra packs hold over the fresh coconut water is that they can be kept refrigerated with the product being unspoilt till a period of six months and outside refrigerator for three months.

Though there is a demand for this product, the industry has still to be tapped in a major way, said Kumar.

Nearly 14,811 million coconuts are produced every year in India out of which only two percent is consumed for industrial use. Nearly 10 percent is consumed directly for fresh coconut water and the rest is used for domestic use and in temples as offerings to the deity.

"The percentage that goes into production of packaged drinking water is almost negligible," he said, adding the Coconut Development Board (CDB) was making plans to augment these numbers.

In 2005-06, Kerala topped in coconut production (6326 mn) followed by Tamil Nadu (4867 mn), Karnataka (1,209.8 mn). Lakshwadeep and Andamans which also produce around 53 million and 87.1 million respectively offers a lot of potential.

"However getting these coconuts transported from these areas is a major hassle", he said. (PTI)

Cup of tea turns to cup of woes

UDHAGAMANDALAM, Mar 22: People, particularly tourists, are agitated over ‘fleecing’ by hotels and tea shops, which charge Rs six to Rs 12 for a cup of tea in this famous tourist town.

Taking umbrage over the recent hike of milk prices, tea shops and middle class hotels are now charging a minimum of Rs six to Rs seven and maximum of Rs 12 to Rs 16, as against Rs 2.50 to Rs 3.50 till a week ago, local people allege.

Tourists from neighbouring states and North India are also surprised over this ‘daylight robbery,’ by hoteliers, who are abuse them if questioned on this exorbitant increase.

Hotels on Charing Cross, a busy junction and in and around major tourist spots like Boat Club, Botanical Gardens are charging Rs 14 to Rs 16 per cup of tea, tourists complained.

Though they display the mandatory price list, the column for tea is left blank or sometime covered with a white paper.

Due to this, some poor and innocent villagers, have to shell out Rs 12 for a cup of tea, which they used to get for Rs two to Rs three. The issue would be brought to notice to the district administration, the localites say. (PTI)

Those who say market growth is
irrelevant enemies of poor: FM

MADURAI, Mar 22: Justifying UPA’s economic reforms, Finance Minister P Chidambaram indirectly hit out at the Left parties, saying those who claim that the growth only helped the rich are the "worst enemies of the poor."

"Some 60 members of parliament" criticised everything being done by Prime Minister Manmohan Singh and him (Chidambaram) to improve the economy, he said, addressing students of Thiagarajar College of Engineering on its golden jubilee celebrations here yesterday.

"On the market growth, they say growth is irrelevant. They say this growth only percolates to very small group of people. What do they want us to do. They only want us to distribute poverty in this country," he asked.

"Those who say the market growth is irrelevant and those who say the growth only helps the rich are the worst enemies of the poor. It is because of the growth, the Government is able to do many development programmes," Chidambaram said.

He said in the last four years, Indian economy was growing at 8.8 percent a year and close to nine percent and "if we continue to grow at nine percent, poverty can be wiped out in the next generation."

"Anyone who understands the power of compounding will know that India’s per capita income will double in ten years," he said.

The Finance Minister said currently India’s per capita income is about USD 1,000, whereas smaller countries like Malaysia have higher capita income.

India is already the fifth largest economy in the world. The size of Indian economy will become so large that it would be among the top three countries in the world.

"If we continue to grow at this rate, India would be among the most prosperous countries in the world" dominating in education, services and goods.

Chidambaram said his dream was to see Indian economy overtaking that of China’s.

"If we continue to grow close to nine percent, by the year 2020 India’s per capita income would become USD 2,000 and by 2030 it would become USD 4,000." It would become USD 8,000 by 2040 and USD 16,000 by 2050, he said.

"Imagine the per capita income of this country 16 times larger in what it would be today. Of course long before that happens, India would become the third largest economy in the world, only after China and United States of America," he said.

Outlining the Government’s development schemes, Chidambaram said in 2003-04, a sum of Rs 1,961 crore had been allocated for the Sarva Shiksa Abhiyan Scheme.

"Next year, thanks to growth, I will provide Rs 15,100 crore for this scheme. Similarly, in 2003-04 we had provided Rs 1,175 crore for the mid-day meal scheme.

Next year, we will provide Rs 8,000 crore for the scheme and we will have thirteen crore vchildren of India having the mid-day meals, which is the largest school lunch programme in the world," he said. (PTI)

Dharavi poised to shed its ‘largest slum in Asia’ epithet

MUMBAI, Mar 22: Rapid development planned at Dharavi here is poised to change the face of Asia’s largest slum.

Many local and international companies are in the fray for bagging contracts for Dharavi’s development and the State Government has decided to develop the area in a sector-wise manner.

Rehabilitation of the slum dwellers, who number in lakhs, is going to prove to be an onerous task. The slum-dwellers, too, want the largest piece of cake by demanding houses of 500 square feet area rather than the 225-sq feet houses that are usually provided to the beneficiaries under the slums rehabilitation authority’s scheme.

Shiv Sena executive president Uddhav Thackeray had voiced the slum dwellers demand at a public meeting. He had gone a step further by demanding that the beneficiaries should also be provided with commercial spaces. That apart, there should be a playground, schools and hospitals, Mr Thackeray said while warning that his party will launch an agitation if the demands are not met.

"Dharavi is witnessing a slow change because of the constructions and other development works and the ignominy of being described as Asia’s largest slum will not hold for long, a former Dharavi MLA, and now mp from north west Mumbai, Eknath Gaikwad said.

In fact, it was Mr Gaikwad who had first proposed that the slum residents should be provided 400-sq feet houses and the demand is now being echoed by other political parties.

Says S Natarajan, a Dharavi resident since the last 45 years, "the area has witnessed a change over the last couple of years."

"We are looking forward to coming out of the slum and residing in real buildings," he adds. Rajan, Natarajan’s 34-year-old son, also adds wistfully, "I have been here since my birth but would want my children to live in buildings."

Dharavi, initially had a huge south Indian population, but now has people from all regions from all across the country making it their home.

Vishwas Sawant, owner of a leather boutique, recalls, "there were few shops when I had started my business, but now Dharavi has become a huge leather market."

"Do not be surprised if you find a Bollywood actor or other famed personalities sporting Dharavi-made leather jackets which are on par with international standards," says Ahmed Ali, the manager of king’s leather mart.

The leather goods traders are happy that their businesses will flourish once the sector-wise development is completed. They are also worried that they might have to shift to other areas.

Magsaysay awardee Arputham Joachim, who has dedicated himself to the cause of housing for the poor and the slum dwellers, says, "the issue of housing is not easy as it has been seen that the original slum dwellers are many times evicted by the slum lords."

Joachim is president of SPARC, an ngo working for housing for the poor and slum dwellers in Mumbai. (UNI)

VIP car went up in flames while running

CHENNAI, Mar 22: An Ambassador car, belonging to the Madras High Court, today went up in flames apparently due to some mechanical malfunction.

The car, assigned to a VIP with the siren lights, was being brought for filling fuel, when it suddenly caught fire while running near the Kannagi Statue off Marina.

An alert driver, who heard some strange sound, immediately stopped the vehicle.

The other person along with the driver, however, escaped unhurt.

The car was completely burnt. (UNI)

India on target to achieve an average
9 pc growth: Ahluwalia

Mumbai, Mar 21: Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the country was on target to achieve an average nine per cent growth for five years, despite a slowdown this year.

"We are on target to achieve an average nine per cent growth ...The year which is ending the growth is almost 8.7 per cent, much higher than originally thought," Ahluwalia told reporters on the sidelines of an IMC function.

"Even if we are slowing down, the country can achieve an average nine per cent growth for five years," Ahluwalia said.

Observing that there has been a lot of turmoil in global markets, Ahluwalia said this will have some impact on the country.

Asked about the slowdown in industrial production, he said one should not make assessments based on a month’s data and should take long-term view on the matter.

Ahluwalia said the government remains concerned about the rising inflation levels and would take a series of steps to control it.

"Around the world, we have seen huge increases in fuel, food and commodity prices. Our performance has been better than others," Ahluwalia said. PTI

US firm offers Rs 36 lakh pa salary to 20 students

Chandigarh, Mar 21: Twenty shortlisted students of BTech and MBA have been offered a salary package of Rs 36 lakh per annum by US-based IT Company Outline Systems Inc at a job fest here.

The final selection of the candidates will be subject to H1B visa clearance from the US embassy, a release said today.

More than 400 BTech/ MBA/ MCA/ BCA/ BSc (IT) students from various colleges of the North India appeared at the job fest, which was organised by Aryans Business School in association with Outline Systems Inc.

The colleges including IET, Bhaddal; CEC, Landran; PIMT, Mandi Gobindgarh; GJU, Hissar; CBS, Near Rajpura; SDIET, Barwala; DBIET, Amloh; PCTE, Ludhiana; TIMT, Yamuna Nagar; CCET, Sector 26, Chandigarh; HCTM, Kaithal; Ludhiana LCET, Ludhiana; S D College, Chandigarh etc participated in the drive, the release said.

Outline Systems Inc Vice-President Bhopan Krishnan said after getting the visa clearance, the candidates would be placed at the company’s offices in the US. PTI

AP aims at over 40 per cent growth in IT exports: CM

Hyderabad, Mar 20: Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today said his government had provided a congenial atmosphere for the growth of Industry, including Information Technology, by curbing extremism and providing the much-needed logistics support.

Inaugurating the Hyderabad IT Summit 2008, which brought together major IT companies from over 40 countries, the Chief Minister asserted that by focusing on all sectors of the economy, including industry and agriculture, the state will achieve 10.4 per cent growth this year as against 8.7 per cent growth expected in the country as a whole.

Dr Reddy assured the captains of industry that the infrastructure bottlenecks will be overcome in the next two to three years with the completion of the Metro Rail, outer ring road and other expressways in Hyderabad, one of the most preferred destinations of leading IT companies.

Referring to a recent report of the Reserve Bank of India, the Chief Minister said ‘’Andhra Pradesh is one of the best destinations for setting up an IT enterprise.’’ The state with its proactive policies has been consistently posting about 45 per cent growth in the sector in the last four years as against 25 to 30 per cent growth elsewhere in the country, he observed.

Promising air connectivity to all tier-II and III cities and towns in the state, the Chief Minister wanted the industry to move out to these areas.

‘’We firmly believe the country’s strength lies in its human resources. If only we develop the human resources, no force on earth can beat us,’’ Dr Reddy said and referred to the steps taken by his government for human resources development by setting up Jawahar Knowledge Centres (JKC) to provide ‘’last mile connectivity’’ between the students and the industry.

Thanks to the JKC initiative, leading multinational companies were reaching out even to engineering colleges in remote areas of the state for campus recruitments, he said.

State Information Technology Minister R Damodar Reddy said the state government will tap the vast potential in the animation and gaming sector by floating a company for the purpose.

The state had achieved IT exports of Rs 18,582 crore, registering a growth of 48.4 per cent last year. As many as 1.15 lakh jobs had been generated in the last three years alone, he added. (UNI)

Coffee growers get Rs 310 cr package
from Centre in 11th plan

BANGALORE, Mar 22: The Government has announced a package of Rs 310 crore under the 11th plan for Coffee growers who were reeling under the impact of low yield, Union Minister of State for Commerce Jairam Ramesh said here today.

The package includes re-plantation of Coffee crop at a cost of Rs 100 crore in the traditional coffee growing regions of Kerala, Tamil Nadu and Karnataka, he told reporters here.

The package has been cleared by the Cabinet on March 13, he said.

Following the announcement, the Coffee crop replantation is expected to commence soon.

Arrangements have been made to distribute Chandragiri, a new plant variety. The variety will help bring down the gestation period from seven to eight years to around four years, he said.

According to the Minister, further funds would also be provided towards water augmentation, Coffee development in the north east and non-traditional regions, capacity building for stakeholders and waiver of interest for small growers.

Efforts were on to focus on expansion of Coffee cultivation in areas like Paderu and Araku valley in Visakhapatnam district of Andrha Pradesh and some parts of Orissa, where the crop is cultivated by tribals.

The Centre is also looking at a similar package for Cardamom replantation with an outlay of Rs 42 crore.(PTI)