Incredible India !!

Maruti's fully indigenous car will hit roads by 2011

2009-08-22T14:53:00.000+01:00

Maruti Suzuki India plans to develop and design a car from scratch and launch a 'Made in India' model in two years. Maruti, which is now being developed as a global R&D hub for its Japanese parent, Suzuki Motor Corp, has announced significant investments in enhancing its overall R&D capThe company will invest Rs 1,000 crore in two phases to establish a full fledged R&D centre and a vendors' park at Rohtak (Haryana).
The land allotment agreement was signed on Friday by Maruti Suzuki managing director and CEO Shinzo Nakanishi and the MD of Haryana State Industrial and Infrastructure Development Corporation, Rajeev Arora.
The Rohtak R&D complex will house a R&D centre for passenger cars -- including India's first state-of-the-art test track with a proving ground, wind tunnel, crash facility etc. While the development of the allotted land and construction of the test tracks will be completed during the first phase by 2012, the overall R&D facilities will be progressively completed by 2015.
"This facility in Rohtak would be a big step forward in building the R&D capability of Maruti Suzuki, and enable us to offer superior products to our customers in the future as well," Nakanishi said.
This complex will augment the full vehicle design and development capability of Maruti, thereby meeting the specific needs of the Indian customer. The first phase of this project will see Rs 400 crore investment by 2012.
Maruti has two manufacturing facilities at Gurgaon and Manesar with a combined manufacturing capacity of 1 million units per year.ability.

Poor monsoon no problem, Indian gold demand set to rally in months ahead

2009-08-22T14:32:00.000+01:00

On the surface of it, gold bulls would have good reason to fear months more of depressed demand from India, the world's top consumer: not only are prices still near record highs, but vital monsoon rains are in a deep deficit.
But a close analysis of import patterns over the past decade shows that rainfall is a poor predictor of gold demand in the latter half of the year, when harvest revenues and a series of festivities typically cause a spike in buying.
Looking more closely at the better-aligned indicators suggests in fact that imports should rally: the change in gold prices, which for the moment are higher than a year ago, but stable in the past few months; and rural GDP, projected higher but which could be supported by strong prices and government support plans in case poor rains damage the harvest badly.
While India's economy still remains heavily dependent on a farm sector that, in turn, relies on the monsoon for 60% of its irrigation, the old link that suggested heavy rains would translate into a gold buying frenzy has evaporated, say analysts.
"We are not in the 1980s and 70s and 60s when rain played a very important role in our GDP through the agri sector growth," said Amitabh Chakraborty, president (equity) at Religare Capital Markets in Mumbai. "Now agri GDP is more related to rural wealth and that is actually underpinned by many rural schemes."
The case for a recovery in demand -- after a 54% slump in imports in the first half of the year -- was also bolstered by a survey of leading retailers at the India International Jewellery Show this week in Mumbai.
Based on a simple regression using available data, including GFMS imports for the second half of every year since 2000 and price changes, imports in the second half may rise about 15%, according to an analyst who performed the analysis on behalf of Reuters but declined to be named because of company policy.
"The estimate of the percentage increase in gold imports is about 15% provided the gold price increase of 19% stays steady," the analyst said. He cautioned though that: "considering the paucity of data, the prediction bands are very wide."
A 15% rise would boost July to December imports to 457 tonnes. In July-December of last year, despite average rainfall, imports rose 46.5% year on year.
FARM INCOMES BOOSTED
Examining data for the second half of the year from 2000 through 2008, gold imports have the highest correlation with percentage change in prices at 0.66.
But the correlation with rainfall is just -0.1, suggesting no consistent relationship between the two.
A correlation of 1 indicates a perfect relationship, and a -1 indicates the two data points move in opposite directions.
"Though a monsoon is needed to spur agricultural incomes, it is not the only driving factor," said T. Gnanasekar, director at Commtrendz Research.
That figure should help assuage concerns of a further deterioration in imports if India's June to September rains continue to fall short of norms.
So far this season rainfall is about 28% below the norm, well below the government's forecast for a milder 4% shortfall at the start of the monsoon. So far 161 districts have been declared drought prone, stoking anxiety about the impact on economic growth.
The figures also suggest that while crops may shrivel, government measures often cushion the blow for farmers with measures such as easier credit, loan waivers, employment generation plans and state-set 'minimum support prices' -- all of which help generate money for buying gold.
In this year's budget, the government set aside an agriculture credit meant for cheap loans to farmers of 3.25 trillion rupees ($68 billion), up 13% on year.
Also, nil taxation and migration to cities, additional earnings by farm populations and selling of land with increasing urbanization put capital into farm productivity, the analysts added.
"A lot of tertiary jobs have been created. Go to any mall, there are 200 people either mopping the floor or housekeeping... Earlier there were no avenues for the village people to earn other than agriculture," Chakraborty added.
India's political ideology traditionally favours the farm community, which employs around 70% of its 1.1 billion population, although its share in national GDP has been declining.
Ultimately, it may be price stability more than anything else that will dictate the pace of buying over the next few months, with global bullion having steadied at around $950 an ounce, a relatively modest rise from an average $833 in the second half of last year, when prices backtracked over six years of gains.
In the busy season when the biggest of the festivals fall, a sharp dip often catches the trade unawares and stocks are known to run out and quick imports are made at big premiums.
Even a rally in prices may actually turn out to draw more people to buy fearing further rises: data show that when prices jumped sharply year on year -- in 2002, 2004, 2006 and 2008 -- the busy season imports also jumped on year, possibly because people rush to buy on the dips.
"I think there will be good buying when the market comes off," said Afshin Nabavi, head of trading at MKS Finance, Geneva.

With his charm, Manekshaw won hearts more than wars

2008-06-30T15:10:00.004+02:00

The old soldier has faded away. And the battle-hardened eyes of his men glisten like medals. He was always more Sam Bahadur than Field Marshal SHFJ Manekshaw. He won hearts even more than he won wars. His weapons were a rakish charm as well as valour; the twinkling look as much as the straight baton. Death had a tough time capturing him, and it hasn't been for want of determination. The young soldier escaped from its near-certain clutches twice on the battlefield in Burma during World War II. Indeed, on the first occasion he was felled by a point-blank gun shot in his stomach. Maj Gen D T Cowan spotted him holding on to life, quickly pinned his own Military Cross ribbon on to Manekshaw saying, "A dead person cannot be awarded a Military Cross." Over 60 years later in November 2005, his obituary was revised, and ready to roll off the presses as he lay in a coma. He rose again to fight another day. But now the Last Post has been bugled. Of such stuff is legend. Sam Hormusji Framji Jamshedji Manekshaw, all one man. One man who had handled it all. The raw heat of enemy fire and the white-hot core of the War Room; forging the three services into an integrated, taut, toned fighting machine and managing the bloodied chaos of Partition and then, 24 years later, the waves of East Bengal refugees fleeing the brutality unleashed by their West Pakistani masters; managing the POWs he took in 1971. Yet, though he was honoured with a rank higher than any Indian soldier, he remained forever a jawan. He was so warmly inspirational, and not only for the beloved Gurkhas of his regiment; in every ceremonial parade, all soldiers march with the jauntiest gait when the band strikes up 'Sam Bahadur', composed for him after the 1971 war. I will never forget how we sat at the radio that heady Saturday afternoon of the surrender, feeling the goose bumps rise as he called on Tikka Khan's soldiers to lay down arms. The 'butcher of Bangladesh' had himself been decimated by the Indian army. But it was infamous defeat not victory that provided my first encounter with Manekshaw. In 1962, I accompanied my father to the Control Room of Calcutta's Fort William, and stood awestruck as he bayoneted a map with the positions where the Chinese army had trapped his almost bootless soldiers. Then, three decades later, I summoned the courage actually to spend time with him. I had moved to Bangalore, and he had moved from guns to roses in his retirement cottage near Wellington. We wound our way up the winding Kotagiri road; all the urchins whom we asked for directions straightened up visibly as they proudly obliged. We found him washing his car. "Come for lunch tomorrow,'' he said without preliminaries. We did, savouring his stories and his wife's casserole which arrived grandly on a dumb waiter up from the kitchen on a lower part of the slope. He looked out on to the "wild acres bought by Silloo who was abandoned here in Coonoor when Nehru summoned me in 1962. She paid the princely sum of Rs 18,000 for them, and designed this house. See, each window frames a panorama. My wife has hijacked a corner of my garden,'' he added indulgently. "Why did you call your daughter Sherry?'' we asked. "I did, but I didn't tell her to marry a chap called Batlivala, and name their daughter Brandy!" Still poker-faced, he continued, "My other daughter, Maja, married a Daruwala." He then told us of his late mother's early predicament. Manekshaw's doctor father had set up practice in Amritsar, and he brought his young Bombay-raised bride here. "As the train steamed in, she wept in sheer panic for, there, bathing under a tap on the station, was this huge man with flowing black beard and hair down to his waist: she had never seen a Sikh before.'' In 2003, I met Sam Manekshaw the last time. I lived in Delhi then, and the whole capital it seemed had turned out to greet him on his 90th birthday. The Oberois wheeled in a cake, and Parzor, a UNESCO-funded NGO preserving the Parsi heritage unspooled a documentary on him. Predictably, all speaker paraded the hope of 'hitting your century'. Death ran him out five years too early. It may have won that battle; but Sam has still decisively won the war.

South Africa: Investors Waking Up to the Force of India Rising

2008-06-30T15:10:00.002+02:00

OVER the past decade, India has moved relentlessly towards claiming its place as one of the world's most powerful nations. Amid the cacophony that represents Indian politics, India's rulers have slowly but surely put together a fabric that allows business to prosper.
There has been a gradual opening up of the economy in key sectors and today, tangible evidence of reforms can be seen in the financial sector, consumer sector and the telecommunications industry, among other arenas. Never before has international big businesses been quite as interested in India as an investment destination, and for very good reason
A giant landmass making up the bulk of an entire subcontinent, India is a country in which 1,2-billion people -- of different languages, cultures and just about every religion on the planet -- miraculously live together in relative peace and harmony, despite some deep schisms and fault lines emanating from those differences .
This melting pot of cultures has resulted in the country walking a tightrope amid the coalition politics that have kept the current government in power and still managed to bring about transformation.
Economic and demographic statistics make the picture very intriguing:
India has the fourth-largest economy after the US, China and Japan.
India is one of only 10 countries with a gross domestic product (GDP) of over $1-trillion.
At its current rate of growth, the Indian economy will add nearly one France every three-and-a-half years and one Australia every year.
The middle-income category is currently 50-million strong.
The number of middle class people is expected to reach 583-million by 2025.
One percent of the hitherto low-income group has been shifting into the middle class every year for the past 10 years.
In pure numbers, this is the largest segment of the population, of around 40 million people annually.
India has the highest growth rate of dollar millionaires and billionaires, yet 25% of people earn below $1 a day.
India's economy has grown 8% a year in the past decade
.Although India's employment numbers are very high, so is its unemployment rate.
India is such an interesting investment prospect because of four very powerful themes, which have underpinned growth:
Outsourcing and information technology. These already make up more than 20% of the GDP and are growing at a faster rate than the overall economy.
Consumption. Feeding and selling ordinary daily essentials to a 500-million-plus consumer base is a lucrative business.
Infrastructure. Meeting the challenges of growth in this country is a huge task. Already an estimated $1-trillion is being proposed for spending in the next five years.
Financial products: A huge opportunity in an increasingly urbane population, which, as matters stand, has only 5% of national savings in financial markets.
Most notably, information technology in India has successfully moved up the value chain. Whereas it was once a mere labour cost arbitrage-driven outsourcing business, today it is a highly acclaimed treasure house of intellectual capital. Ironically, this IT-led surge and increasing liberalisation have forced the historically lagging public sector companies -- with their much-maligned bureaucracies and inefficiencies -- to wake up and start to make dramatic changes.
This is a unique transformation, in which the public sector, instead of withering away as predicted, has become stronger and proved itself to be an able competitor to the private sector.
State-owned behemoths such as the State Bank of India, the Life Insurance Corporation of India, ICICI Bank, the Steel Authority of India and the Oil & Natural Gas Commission, among others, have shaken off their historical images and confounded their critics by capitalising on opportunities available to them to become powerhouses in their respective arenas.
India has historically, thanks to its post-independence state-subsidised education focus, produced surplus labour. This has changed and, for the first time, Indian businesses are now beginning to face a skills shortage. Long criticised for its failure to curb population growth, suddenly its young population is being hailed as its biggest advantage. India is therefore in the midst of a transformation few nations have managed. A sharply divided and highly politicised country with significant polarisation and populism set amid a long-suffering and largely "unconscious" electorate can be fraught with pitfalls. There are bound to be disappointments in the pace and quality of some of the reforms.
But India has become a relentless force with awe-inspiring momentum. The energy and enthusiasm of the citizenry in India will pave the way for sustained growth and development. India is poised to become the most important economy in our lifetime and Indian-owned businesses are set to dominate the world markets. Admittedly, the jury is still out on where it will all finally lead to. But never in the history of modern times has such a story unfolded, and big business cannot afford to remain a bystander. "Go east" should be our mantra.

Topshop may enter India with Tata Group

2008-06-30T15:10:00.000+02:00

Arcadia had been in talks with Indian real estate firm DLF (DLF.BO: Quote, Profile, Research), but "finally decided in favour of a franchise agreement with Tata Group's retail chain Trent (TREN.BO: Quote, Profile, Research)", the newspaper said, citing a person close to the development.
A spokeswoman for Trent declined comment.
Green had said in April he was pushing ahead with Topshop's international expansion, including the first store in the United States slated to open in October. He said at the time he was nearly set with plans to enter China and Hong Kong, too.
Foreign retailers are showing keen interest in India's fast-growing retail industry amid stagnating growth at home.
Single-brand foreign retailers in India are allowed to take up to 51 percent in a venture with a local retailer; multi-brand retailers are limited to franchise or licence operations.
Marks & Spencer (MKS.L: Quote, Profile, Research) in April signed a joint venture agreement with Reliance Retail, a unit of India's Reliance Industries (RELI.BO: Quote, Profile, Research), for stores to sell apparel and homeware.
Trent, which operates department store chain Westside, hypermarkets and bookstore chain Landmark, last year said it would manage Benetton Group's (BNG.MI: Quote, Profile, Research) Sisley stores in India.
Infiniti Retail, a unit of Tata Sons, runs Croma, a chain of consumer electronics and durables, in partnership with Australia's Woolworths

US House Speaker Pelosi to visit India tomorrow

2008-03-18T10:25:00.001+01:00

WASHINGTON: The Speaker of the US House of Representatives Nancy Pelosi will be visiting India tomorrow on a five-day trip, with the Indo-US nuclear deal as an agenda.

Pelosi, a powerful Democrat on Capitol Hill, will have her official meetings on March 20 with the Prime Minister Manmohan Singh and other senior leaders.

Unlike other top lawmakers who include a few countries in their visits overseas, Pelosi is on a "India Only" visit.

She is expected to discuss major issues in the bilateral relations between India and the United States including the civilian nuclear deal.

Like her colleagues in the US Senate, who have visited India recently, Pelosi may also stress on a time-frame for the submission of the deal to the Congress, where she will be the major player in case of a final vote in the House.

The environment issue is also likely to attract considerable attention both in her official and non-official meetings.

Besides, the issue of Tibet may also be into the focus during Pelosi's visit to India especially in the context of the recent crackdown by China in the capital city of Lhasa.

The Speaker is an admirer of the Dalai Lama and has backed his calls for dialogue while generally being sharply critical of Beijing.

After China, TCS is looking to expand elsewhere in the region

2008-03-10T19:35:00.000+01:00

One of India's leading software companies, Tata Consultancy Services (TCS), has joined the fray in Thailand's software industry with the aim of becoming a leading player and catering to other parts of the region from the Bangkok-based office.

"This is a market that we have been looking at for a very long time and have finally got the approval from the Board of Investment (BoI)," Grija Pande, the chief executive for Asia Pacific, said in a recent interview.

"Our hope is to be able to add value to the various industries that we have our strengths in, be it financial services, telecommunications services or the government."

Although the move by TCS into the Thai market comes after some of its rivals have already made their presence felt, Mr Pande says that competition in the market would only help drive the overall industry's growth.

Pande: Banking, telecoms to be focus

TCS, which caters to some of the world's largest clients including GE, says that the presence of the multinationals in Thailand would be the driving factor for TCS.

TCS, which has a presence in key Asean markets, such as the Philippines, Indonesia and now Thailand, wants to use these offices as its centres for the region, although there are times when the company believes that countries such as Vietnam may be of interest in the future.

"The region has always been of great interest to us but we had to delay the plans because we were focusing on the major expansion in China," Mr Pande said, adding that currently there were 1,200 staff in its Chinese operations.

"We have a philosophy that unless we do not have a strong business, we do not like to go to that market," he said, noting that Thailand was the 45th country where TCS had a presence.

With the rising cost of doing business in India, Mr Pande said there had been been talk of shifting the industry to cheaper countries, which he believes is a wrong notion.

The only activities that should be shifted, in his view, are call centres that rely on low costs, but programming and other complex activities need to remain in India, where technological know-how is still stronger than in most parts of the world.

India's cost structure is rising at "unsustainable" levels of more than 15% annually, he says, Despite this, TCS has shown a strong performance by posting a 50% cumulative average revenue growth rate over the past five years and this year, despite the global gloom and doom. The key, he says, is to diversify the exposure.

"We have taken a conscious decision for five years to diversify our exposure to the United States and now the US accounts for less than 50% of our revenue," Mr Pande said.

He added that Europe now accounted for 20% of TCS's business and the rest of the world or the emerging markets 20%.

The emerging markets have the biggest potential, with growth rates of more than 40% that could help offset the slowdown in the United States.

Mr Pande said that in Thailand TCS would focus on banking, telecommunications and the government sector. Lately, TCS has entered into a joint-venture agreement with Thai Reinsurance to set up a company to provide IT outsourcing for medium-sized and small insurers. The company holds 20% of the new venture and the first customer is Falcon Insurance which has a five-year application service provider agreement.

TCS has set up a company in Thailand to provide three main services: IT services, business-solution services and outsourcing. It focuses on banks, telecoms and the government sector, the areas where the company has gained experience from serving worldwide customers.

This year, banking customers will invest more in IT, especially core banking systems. In the past, TCS developed software packages for the core banking system and bought other software companies that provide the core banking system to add to its current services.

Furthermore, it has experience installing core systems for large banks worldwide such as Bank of China, which has 22,000 branches and 380 million accounts, and State Bank of India. It is expected that within 12 to 18 months, TCS will have more customers, five or six of which are Thai and foreign banks.

The telecoms business is expected to grow as well and the proposed solutions for target telecommunication customers are the billing system and operating system for service and support.

The company also has built up experience providing billing solutions to service providers in Asia such as SingTel, Indosat and Telekom Malaysia.

Last week, the company had a chance to propose its own technology for government agencies to Deputy Prime Minister Suwit Khunkitti.

The proposed solution is a company registration system via the internet which helps foreigners set up companies within two days.

No discrimination against India in new visa system: UK

2008-03-10T19:23:00.000+01:00

Britain on Monday assured India that there will be no discrimination against Indian professionals in the new point-based system for work visa.

In a meeting with Minister of State for Industry Ashwani Kumar here, Duke of York and Special Representative of UK's Department of Trade and Investment Andrew Albert Christian Edward said there would be "no discrimination against Indian professionals for work visas in the UK".

Kumar hoped that the new visa system would give greater fairness to Indian professionals for entry in the UK.

The new point-based system for managing migration would ensure only workers with skills to benefit Britain's economy come to the UK and put in place a licensing system for businesses who want to recruit from overseas.

Both sides also stressed on the need to increase business contacts between SMEs, service sectors, education as well as skill upgradation.

Referring to the overall outward investment profile of the UK, Edward said there is tremendous scope for an exponential growth in trade as well as investments.

He further said he hoped India will take next level of steps for improved market access.

UK is the third largest investor in India with cumulative FDI of 4.13 billion dollars. Indian investment in the UK during 2006-07 in 76 projects generated 1450 jobs making it one of the major investors.

Total investment in these 76 projects was to the tune of over two billion dollars in sectors like telecom and IT.

One million new jobs in India in 2008

2008-03-10T19:14:00.000+01:00

It is good news for those fresh out of college or for those who are keen for a job change, as a leading HR consultancy firm has predicted one million new jobs in India this year.

Ma Foi Employment Trends Survey (METS), conducted by Ma Foi, one of India's largest HR consultancy firm has predicted a three per cent increase in employment in 2008.

The largest chunk of the new jobs according to the survey would be generated by hospitality sector which is riding high with the tourism boom in the country.

"The Hospitality sector will generate the maximum number of employment in 2008. 426,668 jobs are going to be generated by the Hospitality sector. This sector is closely followed by Health at 295,829 and Education Training & Consultancy at 166,005," says the survey.

It adds that an estimated USD 11.41 billion is expected to be seen in the Hospitality sector in the next two years and that India is likely to have around 40 international hotel brands by 2011.

"The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates. With the demand continuing to surge, many global hospitality majors have evinced a keen interest in the Indian hospitality sector," says K. Pandia Rajan, Managing Director, Ma Foi Management Consultants Ltd.

While, IT and ITES sector continues with high growth in recruitment at 7.3 and 7.2 per cent, the survey says that it is the Health sector which shows the highest growth in recruitment at 8.9 per cent.

India-born delivers a 'sleeper hit' in US

2008-03-09T22:26:00.007+01:00

WASHINGTON: In American showbiz, "sleeper hit" is a term used to refer to a film (and sometimes even a book or an album) that gains unexpected success or recognition. Among the big sleepers in recent years are: The Full Monty , Little Miss Sunshine , and My Big Fat Greek Wedding . Breaking news for India is that a Hollywood sleeper has just begun to stir — and it comes from a debutant Indian-origin director who's not in the same bracket as Mira Nair, Deepa Mehta, or Shekhar Kapur — not yet.

His name is Bharat Nalluri and his debut directorial venture is the rather unusually titled Miss Pettigrew Lives For A Day . But in a week that saw mega-movies such as 10000 BC and The Bank Job hit the screens in the US, it is Nalluri's limited release Miss Pettigrew that has the critics excited.

From the New York Times : "As it stands, the movie, directed by Bharat Nalluri from a screenplay by David Magee and Simon Beaufoy, is an example of how a little nothing of a story can be inflated into a little something of a movie with perfect casting, dexterous tonal manipulation and an astute eye and ear for detail."

From Washington Post : "After a particularly dour Oscar season, the jolly romantic romp Miss Pettigrew Lives for a Day sparkles like a rhinestone in the muck. Set in 1930s London, the story of a dowdy governess (Frances McDonald) who finds adventure and love when she works as a starlet's (Amy Adams) personal assistant for 24 hours is just the tonic for filmgoers eager for a film that celebrates the bearable lightness of being."

And from USA Today : "Based on the 1938 novel by Winifred Watson, Miss Pettigrew is a veritable treat. Wisely cast, this handsome production is a delightful farcical fairy tale, bolstered by moments of depth and emotion."

The movie is not about to rake in big box-office bucks just this week because, typical of sleepers, it has a limited screen release in the US. But, with '10000 BC' looking like a dud at the box office, Pettigrew looks set to grow in size.

Nalluri was born in Guntur in Andhra Pradesh, came to England with his family when he was six, and grew up in Newcastle upon Tyne. This is his first full-length film, and according to his filmography on a movie database, he has directed episodes of the serials 'Life on Mars', 'Hustle', and 'Spooks' for BBC One, besides a two-part TV film titled 'Tsunami: The Aftermath'.

In an interview to India-West, Nalluri joked that 'Pettigrew' was a tribute to his early familiarity with Bollywood. "This is my homage to my Sunday afternoons, growing up in India," he said. "My parents would put on a movie, and invite loads of people, and make a big Indian meal, and kids would be running around."

Nalluri said there typically is a "Bollywood moment" in all his ventures and there is one in Miss Pettigrew too.

Tata's Nano: High-end version to hit Europe

2008-03-05T09:08:00.001+01:00

Just minutes after the unveiling of the Nano at the Geneva Motor Show, Prodrive boss and now CEO of Aston Martin David Richards pumped Tata Motors MD Ravi Kant’s hand warmly saying, "there are so many beautiful cars around but you guys have stolen the show." A visibly thrilled Kant replied, "Coming from you that’s a huge compliment."

The exchange continued, with some friendly asides about Jaguar Land Rover — "I understand we are soon to be neighbours," Mr Richards said so which Mr Kant replied, "We are trying very hard" — till the Tata official was pulled away by local media.

David Richards wasn’t the only global auto CEO to sit up and take notice of the Nano. Minutes before the unveiling, Fiat boss Luca de Montezemolo dropped into the Tata pavillion for some congratulatory words and a warm hug for Mr Tata. Of course, not all reactions were quite that cheer-leading.

Earlier in the morning, Honda Motor Company CEO Takeo Fukui answered questions on the Nano effect saying: "The Nano I don’t understand. The Jazz is the smallest car for Honda but we need smaller and cheaper vehicles for India in future. Of course ecology is important and safety is important too." Honda is already working on another small car to complement the Jazz in India in an effort to shore up its compact presence.

For the man of the moment though these bytes are just that...bytes. And he takes them with equanimity just like he did when the top names in the business dismissed the Nano project as a can’t be done. "It’s interesting that the auto majors are talking about better fuel efficiency," he said.

"A lot of these people said such a car could not be made in the first place."

The Nano’s Euro debut and the interest it has generated both in the industry and media will of course come in handy when the car actually goes to Europe.

At the unveiling, Mr Tata said that the top-end variant on display could find its way to Europe one day, though there’s nothing planned for now. "The Nano will address global markets in due course but when it will do so has not been decided."

And when it does, the Euro Nano will be a different animal even though design wise it would remain the same. "We will upgrade the car when we do decide to sell it in Europe or elsewhere—not the design but it will meet all the regulatory and legislative requirements," Mr Tata said. "The car for Europe and other developed markets will be an evolution of the current model. But that will happen only after we establish the product in India."

Mr Tata also indicated that if his capacity did not catch up with the demand for the Nano at home and abroad, he would be open to licencing arrangements with other auto companies. "If there’s demand we can’t meet, we will look at licenced production agreements but if we can meet that demand ourselves we will do so," Mr Tata said.

Apart from Europe, the Nano could also find a big market in Latin America. As for whether Fiat will be involved in marketing the car in Latin America where the Italian company has a large footprint, he said: "Everybody will wait for the car to come out first and then look at the business case."

Meanwhile, Tata Motors will use its satellite manufacturing concept to ramp up its distribution footprint for the Nano. "We intend to have satellite manufacturing units that would be low cost and these would be sold of entrepreneurs to them franchise manufacturers of the Nano," Mr Tata said. "This structure will not be in lieu of but in addition to our existing distribution system," he added.

The Nano’s Euro outing though will not position it very differently from what it is elsewhere. "We’ve made a commitment to develop products that can extended to markets beyond India and Nano too is part of that," Mr Tata said. "In Europe too the Nano will be a compliant vehicle at a never-made-available-before price point."

However the recent 4% cut in excise duty will not make the Nano sub-Rs 1 lakh. "We said we will give a Rs 1 lakh car and we will give a Rs 1 lakh car," Mr Tata said.

"To expect the Nano price to go down even further would be unfair. We didn’t raise prices when steel prices went up. Steel prices have started to firm up again and will pinch us further this year." The excise cut, he said, will "perhaps" help hold the Nano price to Rs 1 lakh.

Indeed the excise lolly was the only silver lining in an industry that’s readying for some really tough times, he said. That included lack of capital, high interest rates and creeping prices of inputs. "I was watching the news on the US auto market and it was so depressing I could barely drink my coffee," Mr Tata said. Any relief, whether on input costs or excise, will be a "contribution for a project whose costs have been pared down to the bone," he said.

For Tata though the headline hour was not just for the Nano. On the Jaguar-Land Rover deal, Mr Tata said: "These are two iconic brands. It wasn’t a hostile bid but an invitation to pursue and we are fortunate to be in this line of discussion with them. The plan would be to retain the image of these brand sand not hamper them anyway. If the deal is complete our ambition is to nurture and grow these brands through our support."

That’s right up Ford’s alley given that the American company trying to work out a repeat of its Aston Martin experience with JLR. Aston Martin’s engines were and continue to be made by Ford in a separate unit of its Cologne factory. In JLR’s case, the engine supply agreement was reportedly the most important point in the negotiations.

According to Ford sources, the reason why the deal has not been sewn up yet is because "the idea is to make sure everyone understands their obligations". Ford does not want to end its relationship with JLR once it is sold to Tata Motors. "It wants to retain long term relationship and make sure it is mutually beneficial for JLR, Ford and Tata Motors," said the source.

Clearly there’s more to David Richards’ banter with Bombay House brass than the Nano.

Selling the largest Hindu temple in the world

2008-03-05T08:59:00.002+01:00

Angkor Wat is celebrated, the world over, as a temple of steroid-induced proportions, buried for centuries in the forests of northern Cambodia before being rediscovered by modernity. Visitors such as I, expect to ‘stumble upon’ a giant temple rising about 700 feet in the air amidst the isolation of an intrusive forest.

In today’s global tourism industry, Angkor Wat is portrayed as that rarity, the last chance to truly discover.

There is some truth to this image. Before it was ‘discovered’ in 1840 by a French adventurer, it had not yet entered European imagination. During much of the late twentieth century, when global tourism really took off, Angkor Wat (means city temple) remained inaccessible due to a catastrophic civil war in Cambodia.

Besides, Angkor Wat is probably the largest Hindu temple in the world.

Built by King Surya Varman in the early 12th century, it is dedicated to lord Vishnu. Even the Creator of the Universe would have gasped at the scale of this creation—one square kilometer in size, and built on multiple levels. The artistry of each panel is intricate.

I spot a horde of Hindu tourists, aggressively explaining to their befuddled Cambodian guide that this is actually ‘their’ culture.

The truth is Hinduism in Cambodia dates back to the first century AD, brought by Indian traders from the kingdoms of Magadha (East Bihar) and Tamil Nadu. By the time of the Angkor era, this influence had flowered into a distinct culture of which Angkor Wat is the most enduring example.

So much for the product. Now the packaging.

Even at the time of its so called discovery, Angkor Wat was being administered by some one thousand Buddhist monks. Today, chattering groups of pliant tourists arrive in chartered planes to the nearby airport, Siem Reap. The scatter of shops around the temple sites—some mom and pop, some more enticing—sell every possible packaged memory. The entire area seems like a giant well run hotel.

This gilt-edged wrapping paper, however, is torn at places, revealing contradictions. In sharp contrast to the booming Asian Tigers that surround it, the Cambodian countryside is stark, famished and numbingly poor. Entirely different is Siem Reap, an artificial city, meant to service the many rich western and Japanese tourists who come to visit the Angkor temples. There are super markets everywhere, and the architecture is Baroque-meets-Surya Varman.

The obvious poverty of Cambodia seems to give way to a bubble of smooth highways and air-conditioned modernity. The economy seems as fissured: I could pay in Riel (the Cambodian currency), Baht or in US dollars.

Even the culture that was peddled as Khmer (the majority ethnic group in Cambodia) seemed hybrid. Like in neighbouring Thailand, the Angkor massages on offer in Siem Reap reflected the specific tastes of our globalised times. Eastern European women offer their white skin for the post-colonial Asian, and Nigerians peddle their bodies, rumoured to be well endowed, to Japanese women.

It may seem petulant to emphasise this lack of ‘authentic’ history here. After all every country packages its attractions in bubble wrap for outside tourists. But Angkor Wat’s history has been repackaged for its own people. For Cambodia has had to wrestle with notions of history like few others.

From 1974 to 1979, a far left Maoist regime controlled Cambodia. Until it was overthrown, the Khmer Rouge had succeeded in killing a tenth of Cambodia, forced the entire urban population to the countryside, and sought to radically reshape Cambodian society. Worse (if at all possible) was to follow.

During their fourteen years of exile and guerrilla warfare from the northern jungles, it laid ten million landmines across north Cambodia—one for each Cambodian.

Today, Cambodia enjoys a tenuous peace, and seeks to put behind its immediate past. The Angkor temples are now packaged for Cambodians, as a symbol of national unification.

Even the current Cambodian national flag carries an etching of Angkor Wat. But the phantoms of a grisly past cannot be wished away. Some temples in the Angkor area are still inaccessible due to landmines, and I saw many amputees hobbling across the temple stones.

Volvo plans to launch SUV XC60 in India next year

2008-03-04T13:41:00.001+01:00

Volvo Car Corporation on Tuesday said it plans to launch its sports utility vehicle XC60 in India next year.

The company, which unveiled the XC60 at the ongoing Geneva Motor show, said the new SUV would find its way into India in 2009 as part of its product portfolio expansion in the country.

"With the launch of Volvo XC60 in India we will be broadening our model range to attract more customers with an active, urban lifestyle," Volvo Car India Managing Director Paul de Voijs said in a statement.

"With the expansion of our product offerings in 2009 we will further expand our customer base in the country," he added.

Volvo Car India, a division of Ford Motor Company launched two of its flagship models, Volvo S80 and Volvo XC90 in the country in September 2007.

The company currently market its products through 3 dealerships, one each in Delhi, Mumbai and Chandigarh.

India's latest research ship inaugurated

2008-03-04T13:39:00.001+01:00

A new jewel of the ocean, glistening in the Bay of Bengal, is India's latest research ship the Sagar Nidhi.

Inaugurated by Science Minister Kapil Sibal and Shipping Minister T R Baalu in Chennai on Monday, the ship sailed off to try out the new equipment.

A rupees 232 crore floating laboratory, the ship will help map India's marine resources. It will aid in exploring undersea deposits of methane, the future's energy reserve.

''The Sagar Nidhi is a world class vessel, few of its kind exist in the world. It can be deployed to protect the common man in the event of a tsunami, to investigate the wealth of the bottom of the ocean and our national wealth.

''It will be used to solve the energy problems of India, because of a large amount of methane is entrapped in gas hydrates deep in the ocean,'' said Kapil Sibal, Minister, Science and Technology.

Custom built in Italy, the ship is equipped not just for difficult deep-sea missions along India's 7500-km coastline, but can also sail to Antarctica in summers by effectively cutting through ice.

The seventh in India's fleet of research vessels, 30 scientists live on it for 45 days at a time using the ship's artificial eyes and ears to explore the deepest part of the ocean.

An underwater robot, which can travel down to a depth of six km can study marine life.

The remotely operated vehicle on board is equipped to take underwater photos and to survey and monitor the sea bed.

India claims final tri-series title

2008-03-04T13:24:00.002+01:00

Australia crash-tackled and shoulder-charged but it was India who tonight finally up-ended the world champions with a tri-series finals whitewash.

The jubilant Indians finished their controversial tour in triumph with a nail-biting nine-run win at the Gabba to send Australian vice-captain Adam Gilchrist into retirement in defeat.

A career-best 63 from James Hopes ensured the second final went down to the wire with the home side needing 13 off the last over but he fell from the third last ball.

Instead of a fitting one-day farewell for retiring wicketkeeper Gilchrist, it was controversial spinner Harbhajan Singh who laughed last and loudest, lapping up the triumph on the Gabba boundary in front of ecstatic expat fans.

Australia's loss saw them crashing out of the best-of-three finals series in straight sets for the second consecutive season as they never fully recovered from another top-order collapse in chasing India's 9-258.

Gilchrist lasted just three balls, walking for two after edging behind rookie Praveen Kumar in the first over, in his final international match.

Swing discovery Kumar (4-46) proved the destroyer, the man of the match reducing Australia to 3-32, before a fightback by fishing mates Matthew Hayden and Andrew Symonds.

But just when the Queenslanders had got back on level ground with an freewheeling 89-run stand, Harbhajan undid both within three balls.

Hayden (55 off 68) walked off giving Symonds a gobful after a mid-pitch mix-up which finished with Harbhajan running out the opener.

Two balls later, India celebrated like they had the series wrapped up when the spinner trapped Symonds (42 off 56) plumb leg before.

Symonds' innings included a rib-rattling shoulder charge of a streaker just after he came to the crease with his team in dire straits.

It's unclear whether the all-rounder, an avid rugby league fan, will find himself in hot water for the pole-axing.

Symonds could face a fine or ban if the International Cricket Council decides he breached section 4.2 of the code of conduct relating to physical assault of a rival player, official or a spectator.

The shoulder charge came hours after a frustrated Michael Clarke crash tackled the in-form Sachin Tendulkar when the opener inadvertently prevented him fielding a shot off his own bowling.

A second streaker invaded the ground when Mike Hussey and James Hopes were mounting a second rescue mission, entering the field from long-off behind Harbhajan who immediately complained to umpire Simon Taufel.
The distraction also got the better of Hussey (44 off 42) who edged behind Shantha Sreesanth that over to end their 76-run stand when 60 were needed off 48 balls.

Taufel referred the low catch to third umpire Bruce Oxenford who strangely appeared to view TV's snicko-meter technology before adjudging him out.

Looking to send the finals series to a decider in Adelaide, Hopes kept the home side in the hunt until he was the last wicket to fall.

India entered the match without lanky seamer Ishant Sharma (finger) but Kumar ensured he wasn't missed.

In what is likely to be the last triangular series, Australia's failure marks the first time in 23 years the host nation has been knocked out of back-to-back tournaments.

After winning the toss and batting, India were eying a 300-plus total with first-final hero Tendulkar (91 off 121 balls) in control at 2-175 in the 35th over.

But part-time spinner Clarke (3-52) was the surprise innings-turner for the world champions before Nathan Bracken (3-31) followed up to restrict India to 9-258.

The tourists slumped to 5-209 when Clarke took his third wicket and the momentum was lost.

Skipper Mahendra Singh Dhoni (36 off 37) ensured his team surpassed 250 but couldn't deliver enough lusty late-innings blows with the tail as Hopes and Bracken kept it tight at the death.

India to invest millions in 'green' train toilets

2008-03-03T14:28:00.000+01:00

Indian Rail has allocated £512 million to install 'green' toilets in around 36,000 coaches to prevent human waste from corroding rail tracks.

Some 300,000 litres of human waste from "open-discharge" toilets across India's 40,000-mile rail network force railway workers to replace some tracks every two years, despite the tracks normally lasting 30 years. In last week's rail budget, which is always presented separately because of its enormity, railway minister Lallu Prasad Yadav said three toilet models would be fitted on passengers coaches: controlled discharge, biodegradable and vacuum-retention toilets.

In the first, controlled discharge model waste from toilets would be discarded onto the tracks only when any train travelled more than 18 miles an hour, while the biodegradable toilet converted the litter via a microbial or chemical process into non-corrosive carbon dioxide or chlorinated liquid.

Vacuum-retention toilets, similar to the ones in aircraft, retained the waste in a storage tank.

"We are probably the only railway system in the world that has open-discharge of faecal matter," Ganeshan Raghuram of the Indian Institute in Ahmedabad in western Gujarat state told the recent World Toilet Summit in New Delhi.

Apart from the bad smell, he added, the problem was becoming a lot more significant because of the high public cost as rail tracks and associated fittings wore out faster.

The railway's old-fashioned toilets also contaminated soil and water, particularly when monsoon rains washed the accumulated waste into rivers and lakes.

Indian Rail is the world's second largest network annually transporting over 5 billion passengers and over 350 million tons of freight.

It operates more than 12,000 passenger trains between 7000 railway stations.

India Announces $13 Million in Funding to Protect Tigers

2008-03-03T14:17:00.001+01:00

India's government plans to spend nearly $13 million to create a special force to protect the endangered tiger population.

Finance Minister P. Chidambaram announced to parliament Friday that the money will be used to raise, arm and deploy a special tiger protection force.

A recent survey found India's tiger population has declined to just over 1,400 from 3,600 in 2002. Chidambaram said the number should ring an alarm bell and that the tiger is under grave threat.

India's government last month pledged to spend $150 million to create new tiger reserves and shift villages and tribal communities out of tiger habitats.

Officials have also opened a national wildlife crime bureau to counter the poaching of tigers and other endangered animals.

Tiger hunting is illegal worldwide. Poachers often sell tiger skins and other body parts to China for use in traditional medicine.

New Russian President has an India link

2008-03-03T14:13:00.001+01:00

Russian president-elect Dmitry Medvedev apparently shares an India link unknown to many. The 42-year-old successor of Vladimir Putin has a surname which can trace its origin to Sanskrit.

Medvedev is derived from 'medved' the Russian word for bear. For pre-Christian Russians, who were the worshippers of wooden idols of 'Balvan' (almighty god), the use of the word 'ber' was a taboo and so they preferred to call the animal "Medved'.

While in Russian, 'Medved' would have translated to 'someone having the knowledge of honey', in Sanskrit, the word 'Madhu Vedi' has the same meaning.

Outstanding Indian scholar of Vedas and freedom fighter Bal Gangadhar Tilak in his book 'The Arctic Home in Vedas' has also mentioned about the common roots of the Russians and Indians.

Tycoon Branson launches Virgin Mobile in India

2008-03-03T14:06:00.002+01:00

British billionaire Sir Richard Branson launched Virgin Mobile in India on Sunday aiming to tap the huge number of young people in the world's fastest-growing cellular market.

The flamboyant tycoon was lowered by wires down the face of a 35-storey hotel in Mumbai, unveiling the Virgin logo in mid-air, to herald the firm's entry in a tie-up with India's sprawling tea-to-steel Tata Group.

"India looks very, very promising," said Branson, who is tying up with Tata Teleservices.

The service will be marketed under the Virgin Mobile brand name in India, whose cellular market is expanding by eight million subscribers per month.

Virgin sought to deliver a "more tailored, more relevant offering" aimed at India's young population, he said. Some 51 percent of India's population of 1.1 billion people is under 25 and two-thirds under 35.

The venture will offer music, entertainment and news on India's film industry, sports and stock market.

Virgin needs to grab "only a small percentage of the market to do well," the tycoon told reporters in Mumbai on the weekend, adding that "the vibrancy of its youth and culture truly makes it Virgin territory."

To start, Virgin will launch its service in 50 cities, expanding to more than 1,000 cities by December.

Virgin is seeking to tap India after Britain-based Vodafone, the world's largest mobile company, made its entry last year by buying Indian cell phone operator Hutchison Essar for 11.1 billion dollars.

Virgin Mobile "can capture more than 10 per cent" of the growing youth market within three years and generate more than 350 billion dollars in annual revenues, Jamie Heywood, deputy chief executive of Virgin Mobile India, said.

It can do that by focusing on a single segment and by delivering innovative services, he said.

Branson said he expected the Indian operation would be profitable within three years. It will sell Virgin mobile branded handsets at prices ranging from 50 to 125 dollars.

Tendulkar slices apart Australia with surgical ton

2008-03-03T14:03:00.002+01:00

Sachin Tendulkar's sublime unbeaten century led India to a thrilling six-wicket victory over Australia in the opening match of the Commonwealth Bank Series final in Sydney yesterday.

India secured the win in the 45th over when Mahendra Singh Dhoni found the boundary to hand the tourists the early initiative in the best-of-three final.

Tendulkar's masterly 117 – his 42nd ODI ton – came off just 120 deliveries and included 10 boundaries. The veteran opener was ably supported by Rohit Sharma, who hit a brisk 66 off 87 balls to bolster India's run chase.

Tendulkar was positive post-match but admitted that India still had their work cut out for the next game on Tuesday: "To beat them is extremely important and now we have to beat them a second time," he said. "It won't be easy but we have shown that we can do it."

Earlier Matthew Hayden made 82 to help the home side recover after being reduced to 24 for three. Australia passed 100 in the 18th over when Andrew Symonds effortlessly lofted Harbhajan Singh over mid-off for four.

Harbhajan picked up the wicket of Hayden after the opener was caught on the run by Piyush Chawla at deep mid-wicket when attempting a sweep.

Australia captain Ricky Ponting has called for a vast improvement from his side.

"The bottom line was we didn't get enough runs and we didn't bowl well enough and we didn't field well enough," said Ponting. "I'm expecting a better performance from us on Tuesday."

GSMA Chairman's Award 2008 Presented to India's Sunil Bharti Mittal

2008-02-15T11:41:00.002+01:00

Sunil Bharti Mittal, Founder, Chairman and Group CEO of India's Bharti Enterprises was presented with the GSMA Chairman's Award, the Association's most prestigious honour. This Award, established in 1995, recognises outstanding contribution to the growth and development of mobile communications around the world.

Presenting the Award at the GSMA's Global Mobile Awards evening - one of the highlights of the Mobile World Congress - in Barcelona's National Palace, GSMA Chairman Craig Ehrlich said:

"Sunil has built an incredibly successful business from scratch, one which has had a truly transformational impact on our industry, on the customers he serves and on India's economy. His brave and ambitious strategies will continue to resonate across the country, our industry and the business community globally, becoming a benchmark for emerging markets worldwide. We congratulate Sunil, on what has been an immense personal contribution to the vitality of the mobile world."

Bharti Airtel is now India's leading private integrated telecom company. With an innovative outsourcing model, dedicating major resource to customer service and outsourcing the IT and the networks, Sunil was able to reduce tariffs from more than 20 cents a minute to less than two cents, catalysing a real shift in the economic model for emerging markets.

On the receiving the award Sunil Bharti Mittal said, "This is a tremendous honour and I would like to thank the GSM Association for considering me worthy of this award. This award is a tribute to India's telecom growth story, Bharti's vision and the emergence of Indian telcos on the global stage. It has been a privilege for me personally and Bharti Airtel to have been a part of this telecom revolution that has delivered affordable telecom services for all and has transformed the lives of millions across India."

Sunil started his career after graduating from Punjab University, founding Bharti in 1976, with a loan of just US$1500. Today, at 50 he heads a diverse enterprise, among the top five in India, with a market capitalization of over US$ 35 billion employing over 30,000 people. Committed to his vision of connecting people via communication across the broad spectrum of Indian society, Sunil has led a business revolution to achieve his aim of sustainably serving and connecting the lowest income strata of Indian society.

Sunil's other passion is education. In a country, where 300 million people do not have access to education, he has initiated a programme aimed at delivering high quality primary education to poorest of children by setting up hundreds of schools in the most remote villages of India.

"He is now extending his Midas touch to Indian retail and Indian agriculture. I just know he will do for these two sectors what he has done for mobile - and Indian consumers will be the big winners," added Craig Ehrlich.

About the GSMA:

The GSM Association (GSMA) is the global trade association representing more than 700 GSM mobile phone operators across 218 countries and territories of the world. In addition, more than 200 manufacturers and suppliers support the Association's initiatives as key partners.

The primary goals of the GSMA are to ensure mobile phones and wireless services work globally and are easily accessible, enhancing their value to individual customers and national economies, while creating new business opportunities for operators and their suppliers. The Association's members serve more than 2.5 billion customers - 85% of the world's mobile phone users.

India develops £10 mobile

2008-02-15T11:39:00.000+01:00

India built the world's cheapest car - the £1,250 Tata Nano - and has now unveiled the telecoms equivalent: the £10 “people's phone”.

The mobile handset, developed by Spice, the Indian telecoms group, is angled at the lowest end of the market. It has jettisoned all non-essential features, such as a screen. “It is just a phone,” Bhupendra Kumar Modi, the Spice chairman, who hopes to sell about 10 million in the next year, said.

Mobile phones priced under £20 account for a fifth of the global market. However, with half the world's population yet to make a phone call and Western markets becoming saturated, companies see huge potential in budget devices aimed at the developing world.

The telecoms industry expects the number of people owning a mobile phone to grow to four billion over the next three years, from three billion. With the people's phone, Spice is joining the race to sell handsets to the up-and-coming new generation of Asian, African and South American consumers dubbed “the next billion”.

The company, which is listed on the Bombay stock exchange and valued at about £1 billion, will begin selling its people's phone in Asian markets from next month. Spice has suggested that a £5 mobile is not far away.

Cheap products from India are already making waves around the globe. Tata, has been inundated with queries from non-Indians asking whether they can buy the “people's car”.

The 33bhp two-cylinder vehicle is priced at 1 lakh (or 100,000 rupees, about £1,250), excluding taxes. Tata will export it to the UK and other overseas markets in about three years.

'Year of Russia' launched in India

2008-02-15T11:34:00.000+01:00

The close friendship between India and Russia touched a new high with the launching of the 'Year of Russia'.

Cultural programmes marked the occasion as Prime Minister Dr. Manmohan Singh and his Russian counterpart Viktor Zubkov watched the proceeding at Purana Qila here last evening.

"I am sincerely glad that the year 2008 is marked by such an important event in our bilateral relations as the 'Year of Russia'," said Zubkov.

Dr. Singh took the opportunity to praise Russia for its giant strides in various fields.

"The people of India greatly admire the achievements of the people of Russia in the field of art, culture and sports," Singh said.

Artists from Russia, both folk and contemporary, brought alive the red sand stonewalls of the medieval structure in the more than hour-long concert.

The concert had a spectacular laser show that also involved bringing alive images ranging from monuments like the Taj Mahal to scenes from nature.

The concert had prominent Russian groups such as the Pleageya Band, Moscow dance company Alanta, the Russian folk choir, youth circus of Russia and Alla Dukhova ballet Jodes.

Mackay to lead Canada's business mission to India

2008-02-15T11:32:00.000+01:00

Canadian Minister of National Defence and Minister of the Atlantic Canada Opportunities Agency (ACOA) Peter MacKay will lead an Atlantic Gateway- focused business mission to India from February 18 to 22.

The mission will meet key business forums in New Delhi and Mumbai and promote Canada's Atlantic Gateway to Indian shippers, business leaders, and key government figures.

MacKay will be accompanied by provincial government representatives and a private sector delegation representing airports, ports, railways, and transportation- related associations active in Atlantic Canada.

"The development of Canada's Gateways and Trade Corridors is part of our government's commitment to facilitating international trade and increasing our national competitiveness by linking North America to the world," MacKay said in a statement.

"This mission demonstrates our Government's continuing partnership with the four Atlantic Provinces to develop the Atlantic Gateway initiative," MacKay said.

"The Atlantic Gateway is an important part of the Government of Canada's strategy to improve out trade competitiveness through gateways which connect North America with the world," Minister of Transport, Infrastructure and Communities Lawrence Cannon said in support of the mission.

"We consider India to be a priority market and this mission will provide Canadian businesses with the chance to develop and strengthen commercial ties with their Indian counterparts," the minister said.

Ministers from all four Atlantic Provinces will participate in the mission.

LN Mittal & Farallon Capital invests 1,580 cr in Indiabulls Power Services

2008-02-15T11:26:00.000+01:00

In the largest private equiy deal in India’s power sector, steel baron LN Mittal and hedge fund Farallon Capital have invested Rs 1,580 crore for a 28.6% stake in Indiabulls Power Services (IBPS). IBPS is promoted by the Indiabulls group to set up power plants across the country. The move comes days after power sector valuations tumbled in the wake of Reliance Power’s listing and concerns over stretched projections prompted global investors to balk at doing similar deals with other power companies.

Mr Mittal — who has already invested Rs 2,000 crore in several Indiabulls companies (6% in Indiabulls Financial Services, and holds 3% in Indiabulls Real Estate and 10% in the Raigarh SEZ project) — will invest Rs 592.5 crore for 10.7% of IBPS, which is 100% owned by Indiabulls Real Estate (IBREL). The North Carolina-based hedge fund Farallon will buy 17.86% for Rs 987.5 crore. The fund has invested about Rs 4,000 crore in the Indiabulls group, so far.

IBPS has laid out plans for 11,400 mw of power capacity in several states including Maharashtra, Jharkhand and Arunachal Pradesh. The deal values IBPS at about Rs 5,525 crore, considerably lower than the figures quoted by other leading power companies such as Essar and Sterlite Energy. Both Essar and Sterlite Energy have been quoting valuations over $5 billion backed by their operational expertise and the fact that they already operate power plants. They are also looking for private equity. IBPS, on the other hand, has no operating power assets.

Worries over stretched valuations have led to delays in closure of some PE deals in the sector. Those concerns have worsened in the past few days due to the poor IPO performance of Reliance Power. Power stocks have tumbled between 2% and 16% in the past one week. The R-Power scrip has fallen 17.77% from its offer price of Rs 450 per share since listing its listing on Monday.

Post-equity dilution, IBREL will hold 71.40% in IBPS. The investment by LN Mittal and Farallon will increase the networth of Indiabulls Power to Rs 2,172 crore making it among the top five private companies in the power sector.

“Except the sentiment, nothing has changed in the power sector. The fundamentals are still strong and the government’s programme for capacity addition of another 70,000-80,000 mw with private sector participation in the next few years is on the cards,” Anurag Purohit, research analyst with Religare Securities said.

“Indiabulls sees a tremendous opportunity to capitalise on the growth of the Indian power generation sector. The Government of India has projected that to sustain the current GDP rates, additional capacity of 78,000 mw and 82,000 mw is needed during the 11th Five Year Plan (2007-12) and 12th Five Year Plan (2012-17), respectively,” Indiabulls Group founder and chairman Sameer Gehlaut said.

IBPS through its subsidiaries has submitted bids for seven projects with a total capacity of 11,440 mw in partnership with leading domestic and international companies, where it holds 74% in each JV.

IBPS JV with Temasek-promoted power firm SembCorp is in the fray for a 4,000-mw ultra mega power project at Tilaiya, Jharkhand. SembCorp, a Singapore-listed firm has a market capitalisation of over $6 billion. Temasek Holdings, an investment fund owned by the government of Singapore holds 49.9% in the company.

Indiabulls and Meiya Power Company, Hongkong, have entered into a JV that has submitted the financial bid for the 1,320 mw pit-head power project at Bhaiyathan, Chhattisgarh.

Through its joint venture with MMTC, a GoI enterprise, Indiabulls has been shortlisted to submit a financial bid for the 1,800-mw power project in Talwandi Sabo, Punjab. Other bids include three thermal power projects in Karnataka of 1,000 mw each.

Indiabulls is also building two mega thermal power plants in Maharashtra with an aggregate capacity of 3,960 mw. This includes coal-fired super critical technology based on two separate projects of 2,640 mw and 1,320 mw each.
The company has also signed an MoU with the government of Arunachal Pradesh for four medium-sized hydro projects in the state, where detailed project reports are being prepared in consultation with reputed international consultants.

Tatas, Boeing to float joint venture for aerospace parts in India

2008-02-15T11:24:00.000+01:00

The Tata group and the US aircraft major Boeing are forming a joint venture company for making defence-related aerospace components in India.

The components are for exports to Boeing and its international customers. The joint venture hopes to export components worth $500 million initially.

Under the memorandum of agreement signed by Boeing and the Tata group, it is contemplated that the joint venture company will be established by June, a press release issued today said. A research and development centre for advanced manufacturing technologies is also contemplated, said a statement issued by Tatas.

“This joint venture between Tata and Boeing is an important part of our strategy to build capabilities in defence and aerospace,” said the statement quoting Mr Ratan Tata, Chairman of the Tata Group, in the statement. “I look forward to the joint venture becoming a world-class facility in India.”

The joint venture will bring “real and lasting value to India’s aerospace industry, while making Boeing products more globally competitive,” said Mr Jim Albaugh, President and CEO of Boeing Integrated Defence Systems.
Investment details

When asked about investment details, a Boeing spokesperson said, “this is still under negotiation”. But the sources close to Tatas said that the Indian business conglomerate would hold the majority stake in the joint venture. The Tata Group and Boeing signed the memorandum of agreement in December last year.

Boeing, in December, had signed a 10-year memorandum of understanding with state-owned Hindustan Aeronautics Ltd (HAL) also to source sub-systems for fighter aircraft and helicopters.

“The initial intention of the joint venture is making aerospace components for Boeing and its international customers. Production for the domestic market is not in the plan,” Mr Brian Nelson, Global Director of Communication, Boeing Integrated Defence, told Business Line.

The joint venture will utilise the existing manufacturing capability of Tatas and “develop new supply sources throughout the Indian manufacturing and engineering communities for both commercial and defence applications,” the statement said. However, about manufacturing locations, Mr Nelson said there was no decision yet.

The manufacturing capabilities established within the joint-venture company would in later phases be leveraged across multiple Boeing programmes, including the Medium Multi-Role Combat Aircraft (MMRCA) competition.

In the first phase of the agreement, Boeing would potentially issue contracts for work packages to the joint venture company involving defence-related component manufacturing on Boeing’s F/A-18 Super Hornet for the US Navy and Royal Australian Air Force, CH-47 Chinook and/or P-8 Maritime Patrol Aircraft, the statement said.

India, EFTA trade pact talks begin

2008-01-27T13:35:00.000+01:00

Commerce and industries minister Kamal Nath announced on Saturday that India and the European Free Trade Association (EFTA) states—Iceland, Norway, Switzerland and Liechtenstein—had agreed to constitute a joint task force (JTF), comprising officials from India and the EFTA states, to negotiate the proposed broad based trade and investment agreement between the two sides.

The announcement came on the sidelines of the World Economic Forum Annual Meeting 2008 at Davos. The JTF would also monitor the implementations of the recommendations of an India-EFTA Joint Study Group (JSG) which was established on December 1, 2006. The mandate of the JSG was to undertake a comprehensive review of bilateral economic linkages between India and the EFTA states and to recommend measures to strengthen the economic engagement. It was also tasked to explore the feasibility of a bilateral broadbased trade and investment agreement.

The JSG, Nath announced, had since met four times and has submitted its report to the governments of India and the EFTA states.

The JSG has also concluded that both sides should advance their economic relationship by exploiting the potential for enhancing trade and investment flows. Considering the complementary structure of the economies, the JSG concluded that both sides would significantly benefit from a bilateral trade agreement.

The JSF also recommended that the two sides should enter into negotiations for such an agreement. These recommendations have been accepted by the two sides.

India is the “Future of The World”, says Sarkozy ahead of visit

2008-01-24T15:39:00.000+01:00

A 11 member business team led by Sunil Bharti Mittal, the President of the Confederation of Indian Industry (CII) called on French President Nicolas Sarkozy on Tuesday at the Elysee Palace in Paris.
During the meeting, President Sarkozy referred to India as the Future of the World and described it as one of great and emerging nations of the 21st Century.
The Indian business delegation discussed issues of investment in France; work permits. They also acknowledged good understanding in politics and strategic thinking, but said that trade and investment between France and India needed to improve.
They highlighted the opportunities in infrastructure; in defence equipments especially offset; in healthcare by creating a pool of researchers and academicians; they discussed reduction of drug prices by support to generic drug industry.
The team also discussed the opportunities in the auto industry in India and the need for France to make an iconic investment in India. The business delegation acknowledged that a new chapter in Indo-French relations was expected with President Sarkozy at the helm in France. There were discussions on building synergies between SMEs. In echoing his view of the changing global economic and political order, President Sarkozy was emphatic about India`s role and responsibilities at the high table of global leadership.

India leads global BPO growth

2008-01-24T15:35:00.001+01:00

The outsourcing market in Asia Pacific grew substantially in 2007, fuelled primarily by increased demand from corporations based in India, say the latest TPI Index from sourcing advisory firm TPI.

Outsourcing in Asia Pacific saw its second consecutive year of strong growth and showed an increase in demand across all measures. Although the number of contracts signed in 2007 grew by just 4 per cent, their total contract value increased 30 per cent year over year from $9.9bn to $12.8bn and annualised revenues showed a 13 per cent increase, nearly double that of the global average. Asia Pacific was the only geography to show an increase across all of these measures.

The average value of outsourcing contracts in Asia Pacific increased by 25 per cent, from $141mn to $176mn, largely due to the increased mega relationship activity in the region, especially in the last quarter of 2007. The region showed particular strength in mega relationships with nine deals signed in 2007 at a total value of $1.5bn. This represents one third of the mega relationships globally and contrasts sharply with the region's overall share of one-sixth of the global outsourcing market.

Larger contracts have become popular among companies based in Asia. In addition, BPO performance in Asia-Pacific was particularly strong in 2007. BPO TCV in the region soared by 101 per cent, yielding the best year ever for BPO contract values in the region and leading average BPO contract value to increase by 81 per cent.

Outsourcing growth in Asia-Pacific was largely driven by companies in India and China. These countries traditionally known as outsourcing destinations are becoming buyers of outsourcing. India has seen stepped up outsourcing activity within the telecommunications and financial services sectors whereas growth in China has been strongly influenced by a single telecommunications mega deal.

Global financial crisis not to hurt India: Nath

2008-01-24T15:28:00.000+01:00

Commerce and Industry Minister Kamal Nath asserted on Wednesday at the World Economic Forum’s annual meeting that India would not be engulfed by the worsening global financial and credit crisis. He maintained that the country’s growth path is based more on the domestic consumption, and not on exports.

“Unlike China, which is relatively more dependent on exports for its growth, the growth in Indian economy is driven by the surging demand,” Nath maintained. He also said India was not “coupled” with the happenings in the US and other economies.

“I don’t see the impact of the financial crisis on India,” the minister reiterated during a session on ‘Update 2008: Economics’.

He argued that “the dynamics of the recession” had changed, adding that the government was more concerned about the sudden spurt in the international prices of food articles.

As expected , the proceedings on the first day of the Davos 2008 were dominated by one issue — the fear of a recession in the US economy, and how it would impact various countries.

Besides, the participants debated whether China and India would continue to grow at a brisk pace given the recessionary pressures on the US economy.

“The rest of the world is not as resilient as China and India and it is difficult to predict the repercussions of a severe recession in the US economy if its current consumption of $9.5 trillion slows down drastically,” said Stephen Roach, chairman of investment bank Morgan Stanley in Asia.

Roach suggested that it was wrong to say China and India can grow independently despite the recession in the US economy, adding the domestic consumption in China is about $1 trillion and $ 50 billion in India. He said if the consumption in the US economy shrinked by $3-4 trillion, China and India would be adversely impacted.

However, Nath differed, saying “economic activity has shifted to East Asian economies and what we are witnessing is growing South-South trade”.

Both India’s political and corporate elite are putting a brave face on the worsening economic situation in the industrialized countries, said several analysts at the WEF meeting.

Clearly, there is lack of consensus on whether China and India can be de-coupled from the happenings in the US economy.

However, Yu Yongding, director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, said: “If there is a tremendous slowdown in the US economy, then we must be worried about it.”

Nouriel Roubini, chairman of New York-based Roubini Global Economics, said “if the US economy sneezes, the rest of the world catches a cold”, adding this time the diagnosis in the US was worse.

Economists also remained divided over the role of central banks in bringing the world to the brink of recession, and whether institutions like the Fed were equipped to steer the global economy out of danger.

John Snow, former US treasury secretary, said central banks had performed remarkably over the last two decades. “The issue of whether central banks are capable of vigorous action, bold action, was answered yesterday [referring to the cut by 75 basis points in the interest rate by the Fed on Tuesday].”

Modern India a new center of economic power

2008-01-24T15:15:00.000+01:00

NATION READY FOR NEW ROLE IN GLOBAL AFFAIRS

Hardly a breath passes in today's busy world without the mention of India. It is as if that emerging power's presence reaches in all directions, demanding a voice in every significant global conversation. Indeed, some have argued that the "Age of India" is upon us.

At the very least, the 21st century will witness New Delhi's continued rise as one of the principal centers of influence. As such, the community of nations should extend to India more of the benefits that its status warrants, including permanent membership in the United Nations Security Council.

Now, I am not bringing this up simply because British Prime Minister Gordon Brown made it an issue during his visit to India this week, although I was pleased to hear his comments. Both Brown and Indian Prime Minister Manmohan Singh called for India to have a permanent seat, largely because of the country's growing economic clout.

It is time.

I have long believed that the thinking behind the current U.N. Security Council configuration was appropriate for its moment in history, that is, the period following World War II. In the interim, however, several additional nations have climbed to prominence. The old order should change, even though that could dilute the power of the permanent five: the United States, Russia, China, Britain and France.

In considering candidates, India is a logical one, as are Japan, Brazil, Germany, Nigeria, Mexico, South Africa, Indonesia, Egypt and perhaps others.

One appealing proposal would increase the total number of permanent seats to 10, while adding four more revolving positions. In the end, though, an acceptable modification of the U.N. Security Council could happen in several ways.

Brown also discussed the benefits of having New Delhi join an international group - the Paris-based Financial Action Task Force - that combats money laundering and terrorist financing. India's long experience with political violence and its increasing role in the global economy offer a compelling reason for its participation.

Finally, Brown shared words that no doubt resonated with many Indians when he stressed that Britain - the former colonial power in India until 1947 - was no longer the dominant partner in their relationship. Even though some might argue that he was stating the obvious, it was no small gesture to emphasize the new reality. A dose of humility goes a long way in building international ties - a lesson that President George W. Bush once advocated but appears to have essentially forgotten.

"Ours is a strategic partnership of equals. A confident, modern, 21st-century India and a confident, modern, 21st-century Britain," Brown said.

Such respectful dialogue creates the basis for mutually beneficial, enduring cooperation, whether the coming era is the "Age of India" or an environment where several heavyweights - including the United States, China, Europe and India - share the stage.

French award for Shah Rukh Khan

2008-01-24T15:03:00.000+01:00

The French government will confer "Officer of the Order of Arts and Letters" title on Bollywood star Shah Rukh Khan for his contribution to Indian film industry, a senior French government official said on Thursday.

"The title is being conferred to recognise the successful work done by Khan in 15-year career span and his contribution to Indian cinema - as an artiste and entrepreneur," Audiovisual Attache - Head of the French Film and TV office, French Embassy in India, Mohamed Bendjebbour said.

The distinction is given to persons who have established themselves by their creativity in the field of art, culture and literature or for their contribution to the influence of the arts in France and throughout the world, Bendjebbour said.

French Ambassador in India Jerome Bonnafont will confer the title on Khan at the inaugural ceremony of four-day French film festival - First rendezvous with French cinema here in Mumbai on January 27.

This is not the first time an Indian film personality is being honoured by the French government. In 2005, renowned director Adoor Gopalakrishnan was bestowed with a similar title as Khan, while last year Amitabh Bachchan was conferred with "The Legion d'Honneur", France's highest civilian honour.

"We have the tradition of honouring great film personalities in India. Our government believes that Indian film industry is today among the best in the world in terms of quality," the official said.

Tendulkar wraps up Indian test win

2007-11-27T09:11:00.000+01:00

Sachin Tendulkar completed his 46th test half-century as India wrapped up a six-wicket victory over Pakistan in the first test in New Delhi on Monday.
art.tendulkar.afp.gi.jpg

Tendulkar is now second only to Brian Lara in the list of test run scorers.

The hosts knocked off the 32 runs they needed to win and go ahead in the three-match series off 6.2 overs, Tendulkar finishing with 56 not out.

Tendulkar, 32 overnight, pulled pacemen Shoaib Akhtar and Mohammad Sami for fours and reached his half-century by hitting leg-spinner Danish Kaneria through the covers for a boundary.

He finished the match with a square-cut four off Akhtar.

"Every time he (Tendulkar) goes out to bat he has to handle pressure and he has done it for the last 18 years," said India captain Anil Kumble.

"The hunger is there as always. He is definitely going to be number one test batsman in terms of runs, centuries, everything."

During this match Tendulkar became the second-highest test scorer with 11,207 runs and a record 37 centuries. Retired West Indies captain Brian Lara is now the only player ahead of him with 11,953.

Shoaib was Pakistan's best bowler with four for 58.

He denied left-handed Sourav Ganguly a 50 in his second over of the morning, having him caught pulling by debutant Sohail Tanvir at fine-leg.

Ganguly fell at his overnight score of 48 after putting on 88 for the fourth wicket with Tendulkar to set up the comfortable victory. He hit eight fours in his 64-ball knock.

Kumble said:"I think the boys responded very well. Everyone contributed in this win. The stand between Mahendra Singh Dhoni and Laxman in the first innings was very crucial. Laxman is a class player.

"Our bowlers kept pressure in the second innings and then came the Ganguly-Tendulkar stand, which was the turning point."

The match was a personal triumph for veteran leg-spinner Kumble, who finished with seven wickets on his captaincy debut and was named man of the match.

The second Test begins in Kolkata on Friday.

Pakistan suffered an injury blow after the test when their captain Shoaib Malik injured an ankle during a training session.

"The boys were playing football after the match when Malik twisted his ankle. He was taken to a hospital for precautionary X-rays," said Pakistani team media co-ordinator Javed Akhtar.

He said it was too early to say whether Malik would be doubtful for the second tes

UN to observe February 20 as World Day of Social Justice

2007-11-27T09:04:00.000+01:00

The UN has decided to observe February 20 every year, starting in 2009, as the World Day of Social Justice to promote efforts to tackle issues such as poverty, exclusion and unemployment.

In a unanimously adopted resolution, the UN General Assembly urged its 192 member states to devote the day to promoting activities at the national level in support of the objectives and goals of the 1995 World Summit for Social Development, which was held in Copenhagen.

Governments meeting at that summit had pledged to make poverty eradication, full employment and the fostering of social integration their overriding objectives of development.

In designating the World Day, the Assembly "recognizes the need to consolidate further the efforts of the international community in poverty eradication and in promoting full employment and decent work, gender equality and access to social well-being and justice for all".

In another resolution adopted on Monday, the Assembly linked illicit trade in rough diamonds to the fuelling of armed conflicts around the world and stressed the need for the widest possible participation in the Kimberley Process Certification Scheme.

Energy deals between India, Russia by Feb: Deora

2007-11-27T08:57:00.000+01:00

Energy deals between Indian and Russian oil and gas majors in upstream and downstream sectors could be "firmed up" by February, Petroleum Minister Murli Deora has said.

"(Russian Prime Minister Viktor) Zubkov has assured India of Moscow's backing in its quest for energy security by adopting a favourable approach and transforming the bilateral cooperation in hydrocarbons as one of the main planks of Indo-Russian strategic partnership," Deora told reporters in Moscow on Monday after holding talks with the Russian premier and other senior Moscow officials.

Deora arrived in Moscow on Sunday on a two-day visit and his meeting with Zubkov was a follow-up of the successful summit between Prime Minister Manmohan Singh and Russian President Vladimir Putin earlier this month.

Deora said that Indian Oil Corp, ONGC and OVL (the foreign operations arm of ONGC) and Russia's Rosneft and Gazprom are in dialogue to "concretise" mutually beneficial projects in upstream, mid-stream and downstream sectors.

He said some deals could be "firmed up" by February, when Zubkov will visit India to inaugurate the 'Year of Russia' and is expected to take with him a large business delegation to attend the second Indo-Russian Trade and Investment Forum in New Delhi.

Deora, who is accompanied by the Petroleum Secretary and top brass of the Indian hydrocarbons majors, underscored that the focus was to go beyond the successful Sakhalin-1 project in which OVL has 20 per cent stake. He evinced India's interest in Kiriinsky Block of Sakhalin-3 offshore project with Rosneft, which has yet to pick a partner.

Deora and Zubkov agreed that the energy majors of the two nations should concretise projects in the field of exploration and production, grassroot refineries, modernization and upgrading of refineries, gas-based petrochemical plants, gas processing plants including its liquefaction in India, Russia and third countries.

He said that new opportunities are opening for Russian investments in India's downstream projects including the refining capacity.

With the estimated investments of USD 20-22 billion in the 11th five-year plan, the growing refining and petrochemical sectors offer immense opportunities for the Russian companies, Deora said.

The idea of Russian involvement in the downstream sector in India to offset Indian investments in upstream oil and gas projects in Russia was first voiced by Deora during his visit last year. However, he conceded that there has been "little or no" progress since then.

World's Greenest cars

2007-11-27T08:52:00.000+01:00

From hybrids to hydrogen cells, almost every automaker is busy experimenting furiously to increase its production of alternative fuel and high mileage cars, popularly referred to as "Green cars." As crude oil hovers at an all-time high of $100 and an imminent fuel hike looms large the world over, it has sparked a huge interest in clean, green cars.

In India too, the leading carmaker Tata Motors has unveiled a blueprint to introduce hybrid and hydrogen cars within eight years. The rest of the world, however, already has a number of green cars that are not only running on the roads, but some of these are even giving serious competition to the ones that emit large amounts of CO2.

We, therefore, decided to look at the entire spread of green cars commercially available in the world today and chose some of the most popular ones for you. These cars may not be headed to India in the near future, but it would do Planet Earth a lot of good if more and more buyers have green on their mind. Have a look as these cars give a glimpse into the shape of things err… cars to come.

India's career diplomat Kamlesh Sharma is the new Commonwealth Secretary General.

2007-11-24T12:26:00.000+01:00

66-year-old retired IFS officer Sharma, currently High Commissioner in the UK, will hold the prestigious post for two years beginning March next year when the incumbent Don Mckinnon's two-time term ends.

Sharma was elected to the post at the Commonwealth Heads of Government Meeting currently underway here.

Having immense experience in dealing with global issues, Sharma has served with distinction at various key positions including as India's Permanent Representative to the UN and spokesperson for developing countries in the UNCTAD during the Uruguay Round of multilateral trade negotiations.

Sharma has also played a key role in both South-South and North-South relations.

Sharma is currently a member of the Board of Governors of Commonwealth Secretariat and the Commonwealth Foundation where he has taken keen interest in the activities and guided India's close engagement with the Commonwealth since 2004.

He has served as India's Permanent Representative in New York during which he chaired the Working Group on Financing for Development and the successful consensus building that he has achieved led to the conference yielding the 'Monterrey Consensus' in the conference in Mexico.

He was closely engaged in the process which led to the formulation and adoption of the Millennium Development Goals.

Sharma also had the distinction of being the first Special Representative of UN Secretary General to independent East Timor where he was directly engaged in all aspects of nation building and safeguarding its security.

India’s workers get biggest pay rise

2007-11-21T12:58:00.000+01:00

Indian companies are giving their staff the biggest salary increases in the world, according to a survey that is likely to fuel concerns over wage inflation in one of the fastest growing economies.

Indian employees are estimated to have received an average salary increase of 14 per cent this year. The rate is expected to be maintained in with 2008 settlements forecast to average 15 per cent. That compares with an anticipated annual inflation rate of 5.7 per cent this year and 5.4 per cent in 2008.

The survey covered more than 4,000 companies worldwide and was conducted over two months by Towers Perrin, a human resources advisory company.

The survey showed Indian salary rises virtually across the board, from executive to production floor, far outstripping those in China, the other powerhouse of the Asian economy.

Chinese employees are heading for salary increases of 8 per cent this year and 9 per cent in 2008, based on projected annual inflation of 3.6 per cent and 3.5 per cent.

The findings back growing evidence in India that management compensation there is now on a par with and sometimes higher than the global average, excluding the high-profile packages common in the US or UK.

“Typically, you used to get an Indian chief executive for one-third or even one-quarter of the cost of his foreign counterpart,” said Dinesh Mirchandani, India president for Boyden, an executive search firm. “Today, it’s dollar for dollar.”

The rise in Indian salaries comes amid growing concerns about a shortage of qualified staff, partly in information technology, a sector whose growth has made it one of the main engines of the Indian economy.

Microsoft’s Indian operation last month warned that a lack of computer science PhDs could threaten India’s future as the world’s IT services outsourcing hub.

Another Asian country where salaries are rising at double the pace of inflation is Indonesia, the world’s fourth-largest country by population. Executives there can expect salary increases of 11 per cent this year and 12 per cent in 2008, while the inflation rate is seen reaching 6.3 per cent this year and 6 per cent in 2008.

Venezuelan executives are enjoying the highest rise in salaries in nominal terms, slightly above 20 per cent both this year and next, but that is offset by a rate of annual inflation that is anticipated to reach 22.5 per cent next year.

Meanwhile, 64 per cent of employers in the Asia-Pacific region are investing in training as an incentive to retain staff but only 27 per cent invest in salary increases, according to a separate survey published on Wednesday by Mercer, the consultancy.

The survey also found that the most pressing challenge for employers – reported by 92 per cent of the 750 organisations questioned – was attracting and retaining the right talent, especially for activities such as engineering, sales and marketing

Food for thought for financiers

2007-11-21T12:52:00.000+01:00

When executive education students go on field trips to India, they usually head to big corporate headquarters in cities such as Bangalore, where they can see the country’s high-tech industry at work. They do not often find themselves walking the streets of Mumbai, following a group of delivery men dressed in white cotton kurtas and Gandhi caps and carrying tins of curry, rice and chapattis.

But this is what a group of financiers found themselves doing as part of an executive education programme designed by Duke Corporate Education. And Duke CE is not the only institution to have become interested in the work of these delivery men.

Papers have been written analysing their efficiency by, among others, Singapore’s National University and Mumbai’s National Institute of Industrial Engineering. and in 2004, Harvard Business School published a case study of the system.

The dabbawallas, as they are known, are part of a 5,000-strong workforce that every day collectively rushes tens of thousands of tiffin boxes (stacked cylindrical tins of food) across the city. The meals are cooked in the morning by wives, sisters and maids and – using a relay system in which each meal changes hands several times – they reach the right person by lunchtime.

The entire process takes place in a matter of hours. In an unusual example of reverse logistics, the empty tins are collected after lunch and, using the same system, are returned to the housewives who packed them with food earlier that day.

The dabbawallas, “dabba” meaning lunchbox and “walla” meaning the person associated with the trade, work with the most basic equipment. No databases, software or barcode scanners are used. And instead of trucks or aircraft, they rely on their feet, their heads, bicycles, carts and the luggage compartments of the trains that make up Mumbai’s extensive suburban rail network.

Once they have collected the tins from their clients, the dabbawallas head to the railway station, where they sort their cargoes according to destination and pack them into the luggage compartments of commuter trains.

A coded system of numbers and signs painted on top of each tin directs it to the correct office, school or government building, as well as to the right floor and room. Few of the dabbawallas are educated. Many are illiterate. And yet every day they deliver more than 170,000 individual meals with almost no mix-ups.

“Our computer is in our head and our Gandhi cap is the computer cover to protect it from the sun or rain,” says Raghunath Medge, head of the Nutan Mumbai Tiffin Box Suppliers Charity Trust, the association that governs the dabbawallas. He carries in his pocket the business card given to him by celebrated strategist CK Prahalad, professor of corporate strategy at Michigan University’s Ross School of Business, a fan of the dabbawallas.

Supply chain management

This low-tech approach to an extremely complex and accurate system fascinates academics. Mr Medge is invited to business schools across India and overseas to talk about his organisation’s approach to supply chain management. Although he speaks no English, he appears at events with titles such as “Impeccable Logistics and Supply Chain Management” and has made presentations to institutions such as India’s Strategic Communication for Management and the Confederation of Indian Industries.

As well as academic papers, insights into Mumbai’s extraordinary lunch-delivery system are shown to business executives and students on screen. The film Dabbawallas, made by Paul Goodman, director of the Institute for Strategic Development Carnegie Mellon University, is shown at business schools and sold for use in executive training programmes. Prof Goodman believes the dabbawallas can offer managers and students another way of looking at supply chain issues.

He argues that the reason the dabbawallas have attracted the attention of the corporate world is because their system so clearly demonstrates the fact that technology is not the only ingredient necessary for achieving efficient logistics operations. “These people do it with what I call human and social ingenuity,” he says “And that’s why it resonates with managers because smart managers know that technology is only part of the solution to complex supply chain issues.”

Another characteristic of the system that offers lessons for the corporate world is its reliance on teamwork, with each dabbawalla acting as a vital link in the chain, something Hindustan lever, the consumer goods company that is part of Unilever, has picked up on. Every year, it sends a handful of managers to spend a week following the dabbawallas, as part of its teambuilding efforts.

Cultural experience

“There’s an incredible amount of interdependence within the systems and that’s why companies are interested,” says Prof Goodman. “And it’s an example of a high reliability, complicated system that’s very customer- focused.”

Bob Reinheimer, executive director of Duke CE, designed the programme for the financial services executives and accompanied them to India. He found that customer focus was the most important element of what he hoped the executives would learn from meeting the dabbawallas.

On their trip to India, the executives were asked to consider an answer to the question: “How can we use technology and other means to create true customer intimacy on a global scale?” After researching the question, the executives would then report to their board on what their company could be doing.

“I was worried everyone would be so lost in all the technology, they might forget some of the fundamentals – pride and loyalty and those human characteristics,” says Prof Reinheimer. In addition to visiting technology companies, the participants spent a day with the dabbawallas.

First, the senior managers from the Nutan Mumbai Tiffin Box Suppliers Charity Trust gave a presentation about the history and the workings of the 100-year-old system. Then the executives were assigned to one of six different dabbawallas, shadowing them on their distribution routes, watching the sorting process taking place outside railway stations and following them through the streets until the meals reached their intended recipients.

“The first thing was that the executives saw it as a very interesting cultural experience – and there’s nothing quite like it,” says Prof Reinheimer.

“But then we pushed deeper and it came down to understanding that customer intimacy has to do with enduring relationships, dependability of service and workers themselves having pride in membership.”

And the experience seems to have paid off.

“In their report to the board six months later, you could hear the lessons they had learned from the dabbawallas,” says Prof Reinheimer.

“That had informed their thinking and it was very much part of their final report.”

13 Indian firms among Asia's 100 fastest-growing

2007-11-21T12:47:00.000+01:00

Thirteen Indian firms have been named in a list of 100 fastest-growing small and mid-size Companies in Asia, with some emerging on top in terms of sales and capital returns.

According to 'Asia's Hot Growth Companies' list, prepared by US-based financial magazine BusinessWeek, India is home to a higher number of such Companies than China, whose presence is limited to just eight firms. Besides, India is next only to Taiwan and Japan, which have been represented by 24 and 18 firms respectively.

There are 13 firms from Hong Kong, seven from Korea, four from Malaysia, nine from Singapore and two from Thailand.

The single firm from Pakistan is Packages Limited, a manufacturer of paper products is ranked at the 84th position.

Among the Indian firms, Lakshmi Machine Works is ranked 17th, followed by Kirloskar Brothers (18th) and Godrej Consumer Products (23rd).

Other Indian Companies named in the list are Marico (40), Colgate-Palmolive India (45), Hexaware Technologies (53), GlaxoSmithkline Pharmaceuticals (60) Panacea Biotec (68), Bajaj Hindustan (72), Motherson Sumi Systems (79), Cummins India (83), I-flex Solutions (93) and Titan Industries (98).

Hong Kong-based Ajisen Holdings has been ranked at the top, followed by Raffles Education of Singapore.

In terms of highest sales in 2006, three Indian firms -- Cummins India, Titan Industries and I-flex Solutions – are ranked first, second and third, respectively.

Cummins -- which manufactures diesel, gas, and dual fuel engines for power generation and other industrial purposes -- had sales of 498.8 million dollars, while Tata Group's Titan Industries recorded revenues of 491.2 million dollars.

Information technology solutions provider I-flex raked in sales of 484.3 million dollars.

In terms of three-year average return on capital, Godrej Consumer was ranked on top across Asia with 106.7 per cent. Godrej Consumer and Marico were named as the second and third biggest Companies with a return of 57.7 per cent and 57.2 per cent respectively on the basis of capital return last year.

Based on market value, I-Flex was ranked at second position with a value of about four billion dollars.

The overall list took into consideration parameters like sales, profit, capital returns and market capitalisation.

"They are in decidedly less sexy lines of business, everything from noodle shops to chemical fiber manufacturing. But these Asia stars do enjoy some big advantages, like relatively high barriers to entry and growing demand from Asia's newly affluent consumers," the magazine said.

In an accompanying report, BusinessWeek said that annual scorecard of top 100 small and midsize businesses
Thirteen Indian firms have been named in a list of 100 fastest-growing small and mid-size Companies in Asia, with some emerging on top in terms of sales and capital returns.

According to 'Asia's Hot Growth Companies' list, prepared by US-based financial magazine BusinessWeek, India is home to a higher number of such Companies than China, whose presence is limited to just eight firms. Besides, India is next only to Taiwan and Japan, which have been represented by 24 and 18 firms respectively.

There are 13 firms from Hong Kong, seven from Korea, four from Malaysia, nine from Singapore and two from Thailand.

The single firm from Pakistan is Packages Limited, a manufacturer of paper products is ranked at the 84th position.

Among the Indian firms, Lakshmi Machine Works is ranked 17th, followed by Kirloskar Brothers (18th) and Godrej Consumer Products (23rd).

Other Indian Companies named in the list are Marico (40), Colgate-Palmolive India (45), Hexaware Technologies (53), GlaxoSmithkline Pharmaceuticals (60) Panacea Biotec (68), Bajaj Hindustan (72), Motherson Sumi Systems (79), Cummins India (83), I-flex Solutions (93) and Titan Industries (98).

Hong Kong-based Ajisen Holdings has been ranked at the top, followed by Raffles Education of Singapore.

In terms of highest sales in 2006, three Indian firms -- Cummins India, Titan Industries and I-flex Solutions – are ranked first, second and third, respectively.

Cummins -- which manufactures diesel, gas, and dual fuel engines for power generation and other industrial purposes -- had sales of 498.8 million dollars, while Tata Group's Titan Industries recorded revenues of 491.2 million dollars.

Information technology solutions provider I-flex raked in sales of 484.3 million dollars.

In terms of three-year average return on capital, Godrej Consumer was ranked on top across Asia with 106.7 per cent. Godrej Consumer and Marico were named as the second and third biggest Companies with a return of 57.7 per cent and 57.2 per cent respectively on the basis of capital return last year.

Based on market value, I-Flex was ranked at second position with a value of about four billion dollars.

The overall list took into consideration parameters like sales, profit, capital returns and market capitalisation.

"They are in decidedly less sexy lines of business, everything from noodle shops to chemical fiber manufacturing. But these Asia stars do enjoy some big advantages, like relatively high barriers to entry and growing demand from Asia's newly affluent consumers," the magazine said.

In an accompanying report, BusinessWeek said that annual scorecard of top 100 small and midsize businesses

Season 2008 - Force India to announce drivers in Monaco

2007-11-20T09:44:00.000+01:00

Force India will reveal their 2008 driver line-up in Monaco next month.

The driving strength, which will make it's Formula One debut next year following Vijay Mallya's purchase of the Spyker squad in September, will be unveiled by the team owner when he addresses the Motorsport Business Forum on December 5.

"From a business point of view, Monaco in early December is the ideal place and time to introduce the Force India F1 concept to the great and good of the global motor sport industry," Indian billionaire Mallya told newspaper The Asian Age.

The shortlist of drivers for the team seems to be growing by the day. German Adrian Sutil (pictured), who is virtually certain to miss out on a Toyota drive in 2008 to his countryman Timo Glock, is under contract for next year.

But, with that contract being signed under the team's former guise as Spyker, there is speculation as to whether Force India will want to, or need to honour it.

Add in the rumours linking him to a McLaren seat alongside Lewis Hamilton, plus former target Karun Chandhok's decision to focus on GP2 for another year, and half the F1 field are potential candidates.

Toro Rosso refugee Vitantonio Liuzzi and Honda reserve driver Christian Klien tested for the team at Barcelona and would appear to be the favourites.

But Williams tester Narain Karthikeyan is still a strong candidate due to Mallya's hopes of running an Indian driver, and GP2 driver Roldan Rodriguez, who will have a number of tests over the Winter, insists he still has a shot.

Established names such as Ralf Schumacher and Giancarlo Fisichella are still without drives for 2008 as well, giving Mallya a healthy pool of talent from which to choose his line-up.

Planet Hollywood enters Indian market with hotel in Mumbai

2007-11-20T09:39:00.000+01:00

With a long list of shining celebrities and a two-day unique Hollywood-style bash to grab attention, London entrepreneur Robert Earl re-launched Las Vegas Strip mega resort Planet Hollywood and announced going international by starting five such hotels in India on a planned investment of $15 million.

Earl, 56, the man who invented the Planet Hollywood restaurant chain in which the famous Hollywood actors like Sylvestor Stallone, Bruce Willis, Demi Moore and others have a stake, said, "We are expanding our restaurants and India, due to its strategic postion, was an obvious choice".

"We expect to open our first restaurant in Bollywood and the other four will be in New Delhi, Bangalore and other major metros," he said.

Planet Hollywood is about popular culture and the celebration of all forms of entertainment and Mumbai, which is home to Bollywood, is the huge capital of entertainment. That is what makes this a perfect marriage, Earl told PTI during the relaunch ceremony.

"PH hotels in India will be a unique idea like our other hotels. The moment a traveller will enter the lobby, it will create a mood that is both hip and frenetic. The rooms will not only be elegant, but we will feature memorabilia in each room and the rooms will be a tribute to a specific celebrity or film.

"No two guest rooms will have the same pieces in them, so with each return visit, you will have a different look in your room," he said.

India and Russia plan for joint trip to Moon

2007-11-20T09:26:00.000+01:00

The countries of India and Russia have signed an agreement to jointly develop a research-and-exploration mission that will orbit and land on the Moon, probably around 2011 to 2013.

The agreement was officially signed in Moscow, Russia, on Monday, November 12, 2007, by Anatoly Perminov, director of the Russian Federal Space Agency (RKA), and Gopalan Madhavan Nair, administrator of the Indian Space Research Organization (ISRO).

It was announced by Indian Prime Minister Manmohan Singh and Russian President Vladimir Putin while Singh was discussing various national interests at the Kremlin. The space agreement would extend out to the year 2017.

The lunar lander/rover will be headed up by the Indian ISRO, while the lunar lander, which will include a scientific laboratory and moon rover, will be the charge of the Russian RKA. Both the orbiter and lander/rover, called Chandrayaan-2, would be placed into one payload to be launched by a Indian geostationary satellite launch vehicle (GSLV).

Currently, Russia, by itself, is working on an unmanned mission to the Moon, Luna-Glob, scheduled for departure in 2010. A second mission, in unison with India, will target a Lunokhod unmanned rover onto the Moon's surface in 2011.

India is working on its first lunar probe, the Chandrayaan-1 orbiter, which is scheduled to be launched in April 2008.

Nine prominent Indians receive inaugural Australia-India Council Special Awards

2007-11-20T09:19:00.000+01:00

Nine prominent Indians were awarded the Australia-India Council Special Awards on Monday evening, an honour recognising their exceptional contribution toward strengthening Australia-India relations.
The awards were presented to Tarun Das (business), Dr Jasleen Dhamija (art), Dr Jamshed Irani (bilateral relations), Mr O P Jain (culture), Mr Suresh Kalmadi (sports), Mr S K Misra (conservation), Dr Rajendra K Pachauri (environment), Professor Santosh Sareen (education) and Mr Soli Sorabjee (law).
An initiative of the Australia-India Council (AIC), the awards were presented at a ceremony at the Australian High Commissioner, Mr John McCarthys residence in Delhi, with several members of the Council present. The awards were presented by the High Commissioner and Mr Darren Gribble, Chairman of the AIC and a former Australian High Commissioner to India.
The Australia-India Council was established to forge people-to-people linkages between our countries 15 years ago, said McCarthy.
After over a decade of building upon the initiative, the Council wanted to express its appreciation to the extraordinary people who exemplify its goals, McCarthy added.
I congratulate each award recipient for their valuable role in fostering people-to-people relations between Australia and India, said Gribble.
Delivering acceptance of award speeches, six of the nine awardees who were present, praised the progress being made in India-Australian bilateral ties.
The two standout speeches for their brevity, simplicity and humour were that of Dr.Jamshed Irani, Chairman, India-Australia Council and Director of Tata Sons Limited, and Soli Sorabjee, former Attorney General of India and senior Supreme Court advocate. Irani said that he was not deserving of the award, and said it reflected in an essence the improving ties between the two countries in various spheres.
Sorabjee said that he was accepting the award with humility, and said that it represented for him the advances being made in bilateral legal cooperation, where India and Australia were both taking expertise on law from each other. On a humourous note, he urged former High Commissioner Gribble to do his utmost to get Australian jazz bands to India to perform. Sorabjee is a known aficianado of jazz music, and plays a lead role in organising jazz concerts and festivals across the country.
Suresh Kalmadi was another who delivered a standout speech on sporting relations between the two countries. He said the award was a recognition of the two countries attaching importance to sports, especially events relating to the Olympics and the Commonwealth Games. he recalled his joy of witnessing the Sydney Olympics and the Melbourne Commonwealth Games, and said that the 2010 New Delhi Commonwealth Games would be the best yet.
AIC Special Awards will also be presented to four prominent Indians in Chennai later this week. These include luminaries in business, sports, education, bilateral relations and community service.

Russia offers India investment option in uranium project in Siberia

2007-11-20T09:05:00.000+01:00

Russia has offered India the option of investing in its upcoming international uranium enrichment centre at Angarsk, Siberia, in lieu of paying for nuclear fuel to be supplied to the Koodankulam nuclear station, which is being built with Russian assistance.

At the delegation level talks between India and Russia during the Prime Minister, Dr Manmohan Singh’s recent Moscow visit, the Russians indicated at the possibility of India investing in the centre as one of the ways for India to pay for the nuclear fuel to be supplied the Koodankulam plant in Tamil Nadu.

“The Russian Government has proposed that fuel supplies from the Angarsk facility could be considered for units being set up through Russian assistance in the country. The investments that India might make in the Angarsk enrichment centre would, in such a scenario, be considered as payment for the uranium fuel to be supplied to Koodankulam,” a Government official involved in the exercise said.

Russia has committed to refuel the Koodankulam station throughout its service. The project’s first unit, being built in collaboration with Russian firm Atomstroyexport, is likely to be commissioned in the second half of 2008, the second one in 2009.
Angarsk centre

The Angarsk International Uranium Enrichment Centre is being set up by Russia for supply of uranium to countries with nuclear energy programmes under the International Atomic Energy Agency (IAEA) safeguards. Russia is establishing the project in collaboration with countries such as Kazakhstan under the supervision of the nuclear watchdog at the Angarsk Electrolysis Chemical Plant in Eastern Siberia.

India is currently in the process of approaching the IAEA for negotiating India-specific safeguards.

Russia is currently helping build two nuclear units with 1,000-MW light water reactors at Koodankulam and talks are in advanced stages for collaborations on four additional units at the same site in the wake of the pact reached between India and Russia in January this year.

While Russia’s Federal Atomic Energy Agency representatives have earlier indicated at the possibility of India being included in the Angarsk project during bilateral meetings held earlier this year, Moscow has clearly linked India’s participation in the project to the lifting of Nuclear Suppliers Group (NSG) restrictions in the wake of Indo-US nuclear deal, officials said.

Russia had proposed setting up the centre early last year, in the backdrop of tensions over Iran’s nuclear ambitions, as a way to safeguard nuclear non-proliferation goals by providing uranium fuel to countries intent on building nuclear power plants, while making sure they do not develop nuclear weapons programmes. According to reports, there has been a general consensus among NSG members about Russia conducting enrichment at such a standalone facility.

The Angarsk facility has traditionally been associated with Russian civilian nuclear programme and had been kept completely out of the erstwhile Soviet Union’s atomic weapons programme, thereby, making it easier for the plant to be put under IAEA control. The Centre is expected to produce only low-enriched uranium, which cannot be diverted for building nuclear weapons. Uranium enriched to low levels can be used as fuel for nuclear power plants, but higher levels of enrichment make it possible to divert the fuel for the construction of the core of a nuclear bomb.

Merrill makes big play in India

2007-11-20T08:42:00.000+01:00

Merrill Lynch has launched its biggest foray into India’s real estate market, joining a growing number of foreign financial institutions seeking to tap into the fast-growing but volatile sector.

The US bank is paying about $377m for a 49 per cent share in a portfolio of residential projects managed by DLF, the country’s largest listed developer, in one of the biggest deals of its type in India.
Timothy Grady, head of global commercial real estate Asia Pacific for Merrill Lynch, said: “This partnership and these projects reflect our continued belief in and support for India”.

Wall Street investment banks have descended on India’s real-estate sector looking for opportunities since the government relaxed rules governing foreign investment in 2005.

Participants range from the proprietary arms of investment banks, such as Whitehall, Goldman Sachs’s real estate fund, to specially established Indian real estate funds.

Indian developers have also raised more than $7bn on India’s stock market and London’s Alternative Investment Market since August last year, according to estimates by Ernst & Young and the Federation of Indian Chambers of Commerce and Industry.

DLF said Merrill Lynch was buying the stake in seven “mid-income” residential projects spread across Chennai, Bangalore and Kochi in southern India and Indore in the north. The projects would take seven to eight years to complete.

The transaction, Merrill Lynch’s sixth in Indian real estate, brings its investment in the sector to about $550m.

The preferred mode for most foreign institutions had been to invest alongside the major developers, said Sri Rajan, head of Bain & Company’s private equity consulting practice in India.

Greenfield investments remain challenging for foreign investors in India because of the problems of acquiring blocks of land large enough for big projects.

Late last year, JPMorgan announced its first investment on its own balance sheet in Indian property, paying $60m for a stake in a residential project being developed by Mumbai group, Lodha Builders.

Analysts believe there will be an increasing number of such equity tie-ups as Indian developers hunt for capital.

The Reserve Bank of India, the central bank, has clamped down on foreign lending to the sector to help contain inflation and to ease pressure on the rupee, which has been appreciating against the dollar.

DLF said of the deal: “DLF continues to remain focused on keeping its net economic interest in homes business to a 10-year horizon.”

Om Shanti Om scores over Saawariya in the biggest-ever Bollywood box office battle

2007-11-19T12:11:00.000+01:00

Tellingly, in Delhi's Chanakya theatre, the first week started with two shows of OSO and three of Saawariya, the second week's plans had four shows of OSO and only one of Saawariya.

The international figures are more clear and decisive. At the UK box office, OSO made a massive £5,18,845 at No. 7, just a little short of Tom Cruise's earnings of £6,58,282 for Lions For Lambs which opened No. 6, while Saawariya made £160,985 at No. 12. In the US, OSO opened No. 11 with $1.8 million while Saawariya came 24th with $542,000.

It's not as though people have not been disappointed in OSO. They have found it too clever, too boring in the second half. It's a film for Bollywood buffs than the general janta who may miss out on many of its allusions to the '70s Bollywood. But more people have been disappointed by Saawariya. Angry viewers have walked out in the middle and even demanded refund of their tickets. London filmmaker and critic Nasreen Munni Kabir felt Bhansali's version of Fyodor Dostoevsky classic White Nights comes across as "a film alive in the mind of the filmmaker and failing to come alive on screen...It did not move the audience and felt claustrophobic on those blue sets." A common audience response was summed up by the remark of a sardar kid sitting next to me who complained to his mother for bringing him to a film where "subah hoti hi nahin" (there is never a morning).

Saawariya might flop in theatres yet still make profits through sale of DVD and TV rights. But Vinod, Amod and Komal predict it will lose about Rs 20-25 crore. On the other hand, OSO has clearly increased SRK's already strong brand equity, says Vinod. And made Farah Khan a name to reckon with in Bollywood, the only successful woman filmmaker in a male world.

Amod thinks OSO will be SRK's fourth biggest after DDLJ, K2H2 and K3G. They project net gains of Rs 12-15 crore in Mumbai and Rs 20-25 crore in the overseas market alone. But SRK wants OSO to be the biggest film of his career. Will OSO rise up to that? Even if it makes the most money, will it have the resonance, the positive upsurge of a Chak De? As SRK as Om in OSO would say, "Picture abhi baki hai dost". It's still not The End.
It's a box office battle that has been more keenly contested than the general elections. The campaign started two months ahead with both contestants pulling out all stops to woo audiences from every platform—magazines, newspapers, TV channels, radio, style awards, fashion events, cricket matches and advertisements. They agreed to sing and dance in TV talent contests, launched their own lines of clothes, got into frenzied media tie-ups and feverishly promoted myriad brands. Issues like the nuclear deal took a backseat as the whole nation debated whether Om Shanti Om or Saawariya would emerge winner in what seemed set to be a neck-to-neck race. Amul even devised an ad around them: Savouriya, Eat at Om.

This Diwali weekend, the early indicators declared that Badshah Khan is one up on the Sony Pictures-Sanjay Leela Bhansali combine; SRK's one-man show has routed the first-ever Hollywood-Bollywood joint venture; and OSO is the loud cracker, while Saawariya hasn't quite set the screens on fire.

In Bollywood, it's hard to find proper accounting of a film's earnings. We haven't been able to develop a single, foolproof, standardised method of measuring a film's box-office success. Trade pundits are known to have stupidly miscalculated the potential of cult films like Rang De Basanti and Chak De! India, but celebrated duds like Himesh Reshamiyya's Aap Ka Surroor. So, while no definite figures are available on the two Bollywood biggies, for a change there is unanimity amongst the trade fraternity that OSO is a blockbuster, perhaps the biggest this year, while Saawariya is finding the going tough after a good start.

With his characteristic humour, SRK said they couldn't give a figure for OSO's earnings "because it's taking time to count the money". Unofficially, the distributors Eros are claiming it to be their fastest money-spinner, that will do the business of their other big 2007 hit, Partner, in just two weeks. They had paid Rs 75 crore for the film's distribution rights, a humungous amount which they hope to recover in one week itself. On the other hand, Sony Pictures claimed to have grossed Rs 50 crore in the first weekend in India, a figure arrived at through "a process which tracks down collections at the grassroots". Trade analysts were quick to rubbish it. "It takes time to know conclusive figures," said Amod Mehra. "It's impossible to get such figures with so many prints in circulation and with varied ticket prices," says trade analyst Vinod Mirani. "If Saawariya has made Rs 50 crore, then OSO would have made Rs 200 crore," says Komal Nahata, editor, Film Information.

Amod is merciless, saying Saawariya had only 70 per cent collections in the first weekend, Komal is even more brutal pegging them at a mere 35-40 per cent all India with 70 per cent in Mumbai and Delhi. However, trade site Ibosnetwork claims OSO opened with 90-100 per cent collections in multiplexes and a little less on single screens, while Saawariya opened at 80 per cent on Friday, then came down to 70 per cent on Saturday and just 50 per cent on Sunday. Boxofficeindia.com claims OSO opened to 95-100 per cent response while Saawariya started off 95-100 per cent at the multiplexes and 80-85 per cent in small screens, but collections had begun falling alarmingly to 30-35 per cent on Monday even as OSO held steady at 80-90 per cent. "The collections dropped faster than Ranbir's towel," says Komal, tongue-in-cheek. But Sony claims the fall was natural and that the positive word of mouth for Ranbir and Sonam was still pulling in the crowds.

Corneal Cross Linking Treatment for Keratoconus now in India

2007-11-19T11:49:00.000+01:00

The method works by increasing collagen cross linking, which are the natural anchors within the cornea

Corneal Collagen Cross linking with Riboflavin (C3-R), a treatment for keratoconus, a disease of the cornea, recently was pioneered in India by Mumbai's Dr Vinay Agarwal of Clear Vision Eye Centre, a corneal surgeon specialising in keratoconus management.

Keratoconus makes the cornea become weak and it may gradually bulge outward. Most often, this bulging is in the lower half of the cornea and first presents as astigmatism. "However, not all astigmatism is due to keratoconus. In mild or early stages of Keratoconus (forme fruste keratoconus), eyeglasses may correct the astigmatic vision," informs Dr Agarwal.

C3-R has been proven to strengthen the weak corneal structure. This method works by increasing collagen cross linking, which are the natural anchors within the cornea. These anchors are responsible for preventing the cornea from bulging out and becoming steep and irregular, consequence of advanced keratoconus.

Dr Agarwal has successfully performed corneal cross linking on a number of patients from across the country and abroad. He says, "Corneal Cross Linking is the first real treatment for my keratoconus patients. The achievement of stabilisation is a dramatic event in the life of these patients with a disease that is otherwise progressive and affects both eyes."

The 30-minute non-invasive C3-R treatment is performed in the doctor's office. During the treatment, custom-made riboflavin eye drops are applied to the cornea, which is then activated by ultraviolet light. This amazingly simple process has been shown in laboratory and clinical studies to increase the amount of collagen cross-linking in the cornea and strengthen the cornea. In published European studies, such treatments were proven safe and effective in patients.

The abnormal curvature of the cornea due to keratoconus changes the cornea's refractive error producing moderate to severe blurriness of vision. "As keratoconus advances, rigid gas-permeable (RGP) contact lenses maybe the only non-surgical way to achieve clear vision," says Dr Agarwal. If the disease continues to advance, scarring of the central cornea may occur.

Approximately, half of keratoconus patients have no negative lifestyle effects beyond corrective lenses. The cornea stabilises after a few years without ever causing severe vision problems. For others, the only resolution to keratoconus has been penetrating keratoplasty (PKP), with a long healing period and unpredictable refractive error. Even after corneal transplant PKP, keratoconus can reoccur in the new donor cornea.

‘Chak De India’ Wins Big At V.Shantaram Awards

2007-11-19T11:40:00.000+01:00

First the critical acclaim, then the box-office success and now the industry acclaim! In what could be just the start of an award rich season, ‘Chak De India’, the inspirational sports blockbuster from Yash Raj Films was the big winner at the V. Shantaram Awards. The Shimit Amin directed film won for Best Film, Best Director, Best Actor, Best Editor and Best Sound sweeping aside all competition.

The V. Shantaram Awards are considered a sign of the industry’s recognition for its best achievements and are similar in that to the Oscar awards. It is also unique in the fact that films from all over the country are eligible for the awards.

Said Yash Chopra, Chairman, Yash Raj Films, “We are extremely proud of ‘Chak De India’ and being awarded ‘Best Film’ by jury of distinguished film personalities makes it even prouder. These honours only strengthen our resolve to create unique films that not only resonate with audiences across the country, but also stand the test of time, as I believe ‘Chak De India’ will”.

India's economic muscle power growing

2007-11-19T11:34:00.000+01:00

India is basking in the success of economic reform. Its GDP growth hit 9.4% for the fiscal year ending March 2007. Signs of its rapid growth are visible on India's streets, from new cars to new houses. A new middle class has sprung up, eager to indulge themselves in modern-day conveniences such as mobile phones and computers.

But most experts don't think the country can sustain this kind of growth. Goldman Sachs analyst Tushar Poddar suggests growth is around 8%, driven mostly by gains in productivity. Other analysts say it is closer to 6.5% because of infrastructure problems the country faces.

But don't tell this to India's government officials. The central bank's deputy governor, Rakesh Mohan, said the growth trend of the past few years indicates the economy has entered a new phase of stronger expansion.

"Most importantly, the current growth is not a flash in the pan and is exhibiting signs of sustainability along with financial stability, notwithstanding the pressures from unforeseen external shocks," Mohan said.

India’s Planning Commission is targeting annual growth of 9% over the next five years. That's a big jump and would move the economy's momentum closer to neighboring China, which is sustaining growth of about 9-10%.

India’s head of the Planning Commission, Montek Singh Ahluwalia, says, "We are currently projecting an average growth rate of 9 percent for the next five years. Many people think that's a bit under ambitious, given it was 9.4 percent last year."

India does indeed face some tough problems if it wants to sustain the 9% growth rate Planning Commissioner Ahulwalia says can happen. Lack of infrastructure tops the list of concerns it has to overcome.

When India’s economy was growing at 6-6.5%, infrastructure was less evident. But at 9% growth, the country will need to increase the amount of money needed for communications, rail and roadways from 5% spent in 2006-07 to around 9% by the end of the five-year period.

But the money won’t entirely come from the government. It simply can’t mobilize resources fast enough and on such a large-scale effort.

So the country is relying on the funds to come from their newly developed public-private partnerships. In fact, about three-quarters of the increase will be privately funded. Getting that kind of money from the private sector is not easy.

Historically, industrialized countries fund their infrastructure needs through the public sector. For example, China relies on public-sector banks.

India is encouraging its growing business sector to take some of the risk in funding infrastructure projects whenever possible. It’s already happened with the country’s telecommunications industry. When constraints were relaxed, a huge amount of money came in and was used very efficiently.

The same thing happened with Mumbai International and Delhi International Airports. Both were modernized with public- and private-sector funding.

Another driving factor in India’s five-year growth plan is the country’s rising middle class. The middle class currently numbers some 50 million people, but by 2025, that number will expand dramatically to 583 million people -- some 41% of the population.

India’ s middle class includes young college graduates to mid-level government officials, traders and business people. They enjoy a lifestyle that most of the world would recognize as middle class. They typically own a television, a refrigerator, a mobile phone and perhaps even a scooter or a car.

The upper end of the middle-class segment includes senior government officials, managers of large businesses, professionals and rich farmers. Successful and upwardly mobile, they are brand-conscious, buying the latest foreign-made cars and electronic gadgets. They are likely to indulge in an annual vacation, usually somewhere in India.

Both segments of the middle class are demanding more from the government, including better education and healthcare.

And the country is responding. For example, drive down Bannerghatta Road in Bangalore, the heart of India’s Silicon Valley, and you'll see big-name American institutions such as Baltimore's Johns Hopkins and Boston’s Tufts University Medical School.

While experts argue whether India will sustain 6.5% or 9% growth a year, one thing is certain: India will continue its run as a growing economic power bringing with it dozens of potentially rewarding investment opportunities.

Gitanjali Gems acquires US-based Rogers

2007-11-19T11:31:00.001+01:00

Gitanjali Gems has acquired US jewellery retail chain Rogers for an undisclosed sum, a move that will boost the company’s retail presence in India and abroad. This is the company’s second largest acquisition in the world’s largest jewellery market.

Privately-held Rogers is headquartered in Middletown, Ohio and operates 46 retail stores under brand names 'Rogers Jewelers' and 'Andrews Jewelers'. Rogers has revenues of $80 million.

This acquisition will enable Gitanjali to leverage Rogers' existing retail infrastructure and access US consumers, the company said in a release issued today.

Gitanjali Gems is looking at raising capital for its acquisition and expansion plans. It has proposed to garner around Rs 320 crore by issuing 10 million convertible equity warrants to the promoters on a preferential basis.

In last December, the company bought US-based Rs 450-crore jewellery chain Samuels, marking its maiden acquisition in the gems and jewellery space. Samuels has 100 stores in the US, with sales of Rs 500 crore and a back-end capacity for 150 new stores.

The acquisition enabled the company to cut down at least three layers of middlemen in diamond polishing and manufacturing and gaining control of the value chain.

Gitanjali has already expressed its intention to create brands for the US market. Earlier this year, the company bought 70% stake in Tri-Star Worldwide, a Canada mark licensee and a direct customer of BHP Billiton. The tie-up would enable Gitanjali to increase its diamond sourcing from the Canadian mine.

The company plans to invest Rs 100 crore over two years for its domestic retail plans. It is in the process of establishing luxury malls and introducing international brands in the country.

Acquisition spree

November 2007: Snapped up US retail jewellery chain Rogers

February 2007: Acquired 70% stake in Canada-based Tri-Star Worldwide, a branded diamonds and jewellery maker, for an undisclosed sum

December 2006: Snapped up 97% stake in US-based Samuels Jewelers, a jewellery retailer, for Rs 100 crore

US realty major Trump plans India foray

2007-11-19T11:30:00.000+01:00

The "incredible" growth in the Indian realty sector has attracted Trump Organisation, the largest high-end condominium builder of the US, and it is looking for a joint venture partnership in India over the next 12-18 months.

"We are looking for JV partners to enter India. That is precisely why I am here. We are interested in the major cities for investment," Donald Trump Jr, executive vice president (development and acquisition), Trump Organisation, said today.

"On a later date, we may enter the secondary and tertiary cities as they grow," he added.

Asked which cities his company would be interested to invest in, he said, "certainly, the city I'm standing on (Mumbai), Delhi, Hyderabad and Bangalore where the IT sector has witnessed a boom."

Trump said the company had no intention to enter the middle or low-income segment since it is "the best in the high-end sector."

The company would also look at developing hotels and resorts, he said.
"Now is the time to come to India... We hope to strike the deal in the next 12-18 months. We will be eager to do it before that," Trump Jr said. He, however, declined to divulge the proposed investment, saying it would depend on the projects.

According to him, India has created a far more conducive environment for foreign investment over the past decade. Infrastructure still remained a major roadblock, and this needed to be addressed, he said.

"Deregulation has paved the way for foreign direct investment (FDI). Foreign players have been provided with a level playing field. That's great. Whenever they come, efficiencies grow. India required FDI to take the sector to the next level. It will help other sectors as well," he said.

MIT and India to Create Health Science and Technology Institute

2007-11-19T11:27:00.000+01:00

CAMBRIDGE, Mass.--(BUSINESS WIRE)--MIT and the government of India’s Department of Biotechnology today launched a partnership that will result in the creation of a new Translational Health Science and Technology Institute (THSTI) in India.

This new institute, which will be modeled after the Harvard-MIT Division of Health Sciences and Technology (HST), will include faculty from multiple disciplines and professions, offer degrees through multidisciplinary programs, and develop strong ties with other institutions. Funded by the Indian government, the Indian HST will be a multidisciplinary, multiprofessional research and training center that is highly interconnected with regional centers of excellence.

The institute will increase India’s capacity for translating scientific and technological advancements into medical innovations that have the potential to improve healthcare both in India and around the world.

HST Director Martha Gray and Dr. M. K. Bhan, Secretary, Department of Biotechnology, Ministry of Science & Technology, Government of India, signed a letter of intent for this partnership today at a symposium in New Delhi titled “India and MIT: A Conversation about the Future.”

“Tremendous potential exists in India, with its excellence in engineering and science. This partnership is an opportunity to create a long term, synergistic relationship that will result in wide ranging benefits to global health,” said Bhan.

“Launching this new partnership with India’s Department of Biotechnology will build on HST’s pioneering model of medical education that integrates science, medicine and engineering to solve problems of human health,” said Susan Hockfield, President of MIT. “We look forward to a future of significant collaboration across disciplines, across institutions and around the world.”

To foster a culture of innovation in THSTI, HST will help recruit and train new THSTI faculty members. Each year starting in September 2008 and continuing until 2011, four recruited THSTI faculty fellows will join the HST faculty. These faculty fellows will train at HST for two years. During their stay they will develop translational research programs, design courses and curricula for THSTI, and develop close relationships with HST faculty and students.

These fellows will benefit from HST’s nearly 40 years of experience bringing together science, engineering and medicine in education and translational medical research. HST’s success stories include medical innovations such as functional magnetic resonance imaging, a low-cost AIDS detection kit, and novel implantable drug delivery mechanisms.

HST and MIT will also benefit from having these fellows on campus. “We will have people immersed in our program who actually know about the unmet medical needs in India and who will expose our students and faculty to those needs,” said Gray.

This exposure will help drive innovations that can make a real difference in global public health, said Gray. “I don’t believe we can have a global impact on health if we don’t have international partners as part of our community.”

MIT and India have embarked on partnerships before. The two joined forces nearly 50 years ago to form the India Institute of Technology (IIT) in Kanpur, one of India’s top-ranked engineering and science schools. “THSTI has the potential to be a second success story that could revolutionize medicine in India the same way the IIT schools revolutionized engineering and science,” said Shiladitya Sengupta, assistant professor of medicine and an HST faculty member at Harvard Medical School.

After Moon, India eyes Mars mission

2007-11-19T11:22:00.000+01:00

With India heading for the moon, can Mars be far behind? The answer is a no.

The Indian mission to Mars got a fillip with ISRO's 11th plan including the flight to the Red Planet as a part of the document.

India's decision assumes significance in the background of Mars becoming a favourite target after the moon for the US, Russia and the European Space Agency. In fact this week Russia began preparations for a manned mission to Mars.

With Japan and China also expected to join the race to Mars, Indian space scientists feel that India cannot afford to lag behind.

On Saturday, confirming the country's plans to embark on a mission to Mars, director of the Ahmedabad-based Physical Research Laboratory (PRL), J N Goswami, told TOI that if the project is finally approved "India will carry out scientific activities on Mars in the international context."

Said Goswami: "Our plan envisages imaging Mars only through an orbiter. We have no immediate plans for a landing mission."

Goswami is the principal scientific investigator for the "Chandrayaan-1" mission, India's maiden flight to the moon, slated for lift off either on April 9 or April 23, 2008.

He said the Indian Mars mission will focus on basic science like studying the Martian atmosphere, the ionosphere, the magnetic field, the dust storms and the weather. The project also includes searching for water, he said.

Contacted at Bangalore, ISRO officials said a lot of analysis needs to be done before the mission becomes a reality.

"The logical extension after the moon is Mars." an official added. The moon mission has been described as a precursor to more ambitions interplanetary flights to be undertaken by India. Former President A P J Abdul Kalam had stated that a Mars mission will have economic value.

Though a precise time line for the ambitious six-to-eight month flight to Mars has yet to be worked, indications are that if the Centre endorses the project, the mission could lift off around 2015 using the three-stage Geo-Synchronous Satellite Launch Vehicle (GSLV) which is already operational. The Mars orbiter that has to be designed and made is expected to weigh around 500 kgs.

The cost of the mission will be Rs three billion. The mission to moon has a price tag of Rs 386 crore. ISRO chairman, G Madhavan Nair, has said, "Mars is emerging on our horizon."

Marks & Spencer Plans Venture in India, Economic Times Says

2007-11-19T11:03:00.000+01:00

High-street's top brand and Britain's marquee retailer, Marks & Spencer (M&S), is planning to set up a a 51:49 joint venture (JV) in the country. The move is part of a larger global business strategy which is betting heavily on China and India for growth. Three-four Indian partners are interested to partner the foods-to-apparel retailer, given that single brand retailers are allowed equity only upto 51%.

Buying into the Indian middle class purchasing power story, the high-street retailer is also planning to sell all kinds of food, confectionery, snacks and home furnishing in India — all under the M&S brand. Till date, it sold only clothes and lingerie through its franchisee partner Planet Retail, majority owned by Mr Sharma, an NRI settled in Indonesia.

These existing outlets may be transferred to the proposed joint venture company subsequent to its formation. Indian consumers have a soft spot for M&S which was for long the most preferred brand bought by those travelling abroad.

In an official statement post results, M&S chief executive Stuart Rose said, “India is an equally exciting long-term opportunity and a market where we have been trading for six years. We are looking to accelerate the pace of growth in this fast developing economy over the next few years.”

A top industry source said the retail industry is India is set for a major churn. In the past, foreign companies have often used the franchisee-model to introduce its brands in India and test consumer preferences. But with the India growth story assuming an almost iconic status, the same brands now want to control the India operations themselves.

Many like LVMH, Christian Dior, Diesel, Dolce & Gabbana, Armani, Versace and hundreds of other brands are either converting their existing licensee arrangement into an equity joint venture or getting into fresh joint ventures. Sensing an opportunity, even real estate companies are getting into this business and forging JVs with foreign brands.

Marks & Spencer (M&S), with an annual turnover of over 8 billion pound sterling (US $16 billion) is an iconic UK-based retail giant with over 400 stores located in the UK and 150 stores worldwide, including over 130 franchise businesses operating in 35 countries. It's the largest clothing retailer in the country, as well as a multi-billion pound food retailer.

Most M&S shops sell both apparel and foods. It also has a third line of business — selling homeware like bed linen — but is far smaller than the other two.

M&S, which was largely focused on the UK market, has been forced to look out of the country for growth owing to tightened consumer spending in the face of rising interest rates, stagnating house prices, and stringent credit checks on card applications.

M&S is planning to set up a fully-owned subsidiary in China. Sluggish sales back home has forced the British retail outlet to announce investments in India and China next year.

The company has over 250 stores overseas which are largely franchised whereas the new strategy will involve setting up company-owned outlets, sources said. The company will price its products a bit above market price but will offer shoppers value for money. Sluggish sales forced the chain to slash its prices recently in India.

M&S has already selected Global Park in Sri Lanka to house its regional logistics hub where currently M&S garments purchased from Sri Lanka, India and Bangladesh are stored for onward distribution to M&S stores in UK, based on their stock levels and sales requirements. The hub is now geared to handle complex multi-country consolidation and will be used by M&S to handle distribution to their international stores, including franchise stores located in Asia and Middle East.

India rises to 4th in ICC rankings

2007-11-19T10:57:00.000+01:00

The 3-2 ODI series win over Pakistan has propelled India to fourth in the ICC one-day Championship table, overtaking Shoaib Malik's men, who have dropped a couple of rungs to sixth in the latest list.

Mahendra Singh Dhoni's side is now just four rating points behind third-placed New Zealand and will swap places with them if South Africa makes a clean-sweep of the three-match ODI series starting November 25.

India came into the series against Pakistan in fifth spot and trailed their arch-rivals by a matter of decimal places.

However, victories in Guwahati (by five wickets), Kanpur (by 46 runs) and Gwalior (by six wickets) have helped it secure some silverware and fourth place in the ICC table.

Pakistan's victory by 31 runs in Jaipur last night prevented them from dropping behind seventh-placed England and they remain ahead of Paul Collingwood's side only when the ratings are calculated to three decimal places.

Australia still leads the table, five rating points clear of South Africa, the ICC said in a statement.

India, Sri Lanka, Pakistan and England have no more ODIs to play this year, which means the West Indies could close the gap on them as they are scheduled to play five matches against Zimbabwe in November and December.

ICC Championship Table: 1. Australia (128), 2. South Africa (123), 3. New Zealand (114), 4. India (110), 5. Sri Lanka (108), 6. Pakistan (107), 7. England (107), 8. West Indies (102), 9. Bangladesh (48), 10. Ireland (28).

India's Plethico Pharmaceuticals to acquire Natrol of US for 80.7 ...

2007-11-19T10:54:00.000+01:00

Natrol, Inc. (Nasdaq: NTOL), a leading manufacturer and marketer of nationally branded nutritional products, announced today that it has signed a definitive merger agreement under which Plethico Pharmaceuticals Limited of India will acquire all outstanding shares of Natrol’s common stock, $.01 par value, for a cash purchase price of $4.40 per share (or aggregate consideration of approximately $80.8 million). The two-step acquisition will be effected by means of a front-end, cash tender offer by a wholly owned subsidiary of Plethico for all of the outstanding shares of Natrol’s common stock, at $4.40 net per share in cash, followed by a second-step, cash-out merger in which untendered Natrol shares will be acquired at the same net cash price per share. All Natrol stock options will receive cash equal to the excess, if any, of $4.40 over their exercise price. The transaction has been approved by Plethico and the board of directors of Natrol. The tender offer is subject to certain conditions, including the valid tender in the offer of a majority of the fully diluted Natrol common stock, and other customary conditions. Certain stockholders of Natrol, owning in the aggregate approximately 42.3% of Natrol’s outstanding common stock, have committed to tender their shares in the offer. Natrol has granted Plethico a "top-up” option exercisable under certain limited circumstances. Plethico also has agreed to reserve the right to commence a "subsequent offering period” if Plethico owns less than 90% of the fully diluted Natrol common stock upon completion of the initial tender offer period. Wayne M. Bos, President and Chief Executive Officer of Natrol, stated, "We are pleased to announce this transaction which culminates a process initiated and directed by our board of directors to maximize value for our stockholders. We have gained a solid reputation in our market niches and believe the merger with Plethico will also be a win-win for our customers and employees.” Natrol expects the tender offer to be commenced on November 27, 2007. The tender offer will remain open for 20 business days from commencement, subject to extension under certain circumstances. Subject to the satisfaction of certain customary conditions, the tender offer is expected to be consummated during the first quarter of 2008. Morgan Joseph & Co. Inc. served as financial advisor to Natrol and Greenberg Traurig, LLP acted as Natrol’s M&A counsel. About Natrol -- Nourishing the Potential of Mind and Body (SM) Natrol, Inc. (Nasdaq: NTOL), headquartered in Chatsworth, CA, has a portfolio of health and wellness brands representing quality nutritional supplements, functional herbal teas, and sports nutrition products. Established in 1980, Natrol’s portfolio of brands includes: Natrol®, MRI, Prolab®, Laci Le Beau®, Promensil®, Trinovin®, Nu Hair® and Shen Min®. The company also manufactures supplements for its own brands and on behalf of third parties. Natrol distributes products nationally through more than 54,000 retailers, as well as internationally in over 40 other countries through distribution partners and subsidiaries in the UK and Hong Kong. Natrol’s dedication to quality is evidenced by its commitment to high manufacturing standards, earning the company an "A” rating from the Natural Products Association’s Good Manufacturing Practices ("GMP”) Certification Program -- a designation achieved by less than ten percent of U.S. nutrition companies. For more information, visit www.Natrol.com. About Plethico Pharmaceuticals Limited Plethico Pharmaceuticals Limited (BSE: 532739.BO: PLETHICO), a herbal/ nutraceutical focused Indian Company, engages in the manufacture, marketing and distribution of pharmaceutical and allied healthcare products in India and internationally. The company’s product portfolio includes: herbal health care products, such as Travisil® and Mountain Herbz® food supplements; consumer healthcare products and neutraceuticals, which include sports nutrition (Coach’s Formula®), confectionary (Byte®, Actifresh®), pharma/OTC (Effertabs®, Therasil®) and pharmaceutical formulations. The Company today operates in Commonwealth of Independent States (CIS), Africa, South East Asia, Latin America and certain gulf countries. Plethico was founded in 1991 and has its Registered office in Indore (Madhya Pradesh) and has its corporate office in Mumbai, India. Important information The tender offer described in this announcement has not yet been commenced. This announcement and the description contained herein is neither an offer to purchase nor a solicitation of an offer to sell shares of Natrol. At the time the tender offer is commenced, Plethico and its wholly owned subsidiary intend to file with the Securities and Exchange Commission a Tender Offer Statement on Schedule TO containing an offer to purchase, forms of letters of transmittal and other documents relating to the tender offer, and Natrol intends to file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Plethico, its wholly owned subsidiary and Natrol intend to mail these documents to the stockholders of Natrol. These documents will contain important information about the tender offer and stockholders of Natrol should read them carefully when they become available before any decision is made with respect to the tender offer. Stockholders of Natrol will be able to obtain a free copy of these documents (when they become available) and other documents filed by Natrol with the SEC at the website maintained by the SEC at www.sec.gov. In addition, stockholders of Natrol will be able to obtain a free copy of these documents (when they become available) from Natrol by contacting Natrol, Inc. at 21411 Prairie Street, Chatsworth, California 91311, attention General Counsel. Forward-looking statements The statements made in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. As a result of a number of factors, our actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause our actual results to differ materially from those in the forward-looking statements include, without limitation: (i) the risk that the conditions to the closing of the tender offer or the merger set forth in the merger agreement will not be satisfied, (ii) changes in Natrol’s business during the period between the date of this press release and the closing, (iii) obtaining regulatory approvals (if required) for the transaction, (iv) the risk that the transaction will not be consummated on the terms or timeline first announced, and (v) those factors set forth under the heading "Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2006, and in our other filings with the SEC. Further information concerning those risks will be included in Natrol’s filings with the SEC in response to the tender offer. Natrol is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Singer Alisha Chinoy won the 'Best Female Singer' award at an award function in Atlantic City

2007-11-19T08:39:00.000+01:00

ATLANTIC CITY (US): Famous playback and pop singer Alisha Chinoy stole the show at the 'Bollywood awards' here as she won the 'Best Female Singer' award, and her foot-tapping number 'It's Rocking' being adjudged the 'Best Song of the Year'.

The Bollywood awards for music and fashion were given away on Saturday night amidst a star-studded ceremony before a large audience consisting mostly of NRIs, which was spell-bound by spectacular music performances and fashion displays.

Later, Alisha also got a standing ovation for her performance as she enthralled the audience with her hit songs.

Renowned composer A R Rahman won the honour for best 'music director' for his composition in 'Guru'. Sonu Nigam was adjudged the 'best male singer' for the song 'Kabhi Alvida Na Kehna' for Karan Johars blockbuster of the same name.

Others nominated were Himesh Reshammiya, Sukhvider Singh, Sukhbir and Shaan. In the fashion world, noted designer Manish Malhotra won the 'best designer of the year' award while Sumeet Verma was adjudged as the 'best designer in films'. Both presented their creations at the glittering function held last evening. The 'best models' in the female and male category were Anchal Kumar and Aryan Vaid respectively.

Besides, singer Kavita Krishanmurthy also warmed the cockles of people's hearts by singing a sampling of songs she had sung since the beginning of her career till now. However, it was singer Kumar Sanu who was cheered most as audience sang his popular songs with him. CEO of Bollywood Awards Kamal Dandona said that Indian film music was not only popular among the diaspora but also among other immigrants, especially from South America, because of its beat and vigour.

Brand India heads to Egypt

2007-11-19T08:38:00.000+01:00

Leaders of Indian industry, under the aegis of the Confederation of India Industry (CII), are visiting Egypt Nov 20-23 to explore investment opportunities and strengthen bilateral trade relations between the countries.

The two-day event, organised by CII in association with the Indian embassy, will be held at International Exhibition and Fair Grounds, Cairo.

A four-day exhibition, to be launched there, will also include a seminar on investment opportunities in Egypt and in India. It would showcase made-in-India products of over 100 firms.

The "Made in India" (MII) show is an initiative of the CII to promote 'Brand India' and the overseas Indian industry.

CII will also be taking a CEO delegation to Egypt coinciding with the MII show. The delegation, which would consist a large number of Indian companies both in the public and private sector, would have meetings with Egyptians government officials and businessmen.

Some of the prominent participating companies include Godrej Consumer Products, Kirloskar Brothers, Tata Chemicals, Tata International, Tata Motors and Tata Projects.

MII would also have a hydrocarbon pavilion showcasing the strength of public sectors major such as GAIL (India) Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd, ONGC Ltd, Oil India Ltd and Bharat Petroleum Corporation Ltd.

The Indian auto components sector would also be well represented at MII with the presence of manufacturers such as Apollo Tyres, JK Tyres along with other key auto components manufacturers from the small and medium sector.

Trade between India and Egypt stood at $2.5 billion in 2006-07. India is Egypt's third largest trading partner, after the US and Italy. Its exports to Egypt crossed $761 million while Egypt's exports to India, mainly oil and gas, reached $1,743 million.

India is also Egypt's 12th largest foreign investor with a total investment of approximately $700 million in close to 40 projects. Egypt acts as a major gateway for India to trade with Middle East and North Africa.

India's investments to Egypt are expected to cross $1.5 billion by 2009.

Indians most affluent in Silicon Valley

2007-11-19T08:33:00.000+01:00

Indians in Santa Clara County, home of the Silicon Valley, have the highest median household income, own the most valuable homes, and are the best educated, according to a latest census report.

The report which provides a snapshot of Santa Clara County, one of the only two counties in the country, shows that Indians have median income of USD 116,240, which is about 44 per cent above the county's median of about USD 81,000, said the San Jose Mercury News .

The report profiled the four largest immigrant communities -- Indians, Mexicans, Chinese and Vietnamese. It found that although three-quarters of the Indian population was born abroad, they own the most valuable home of about median home price of USD 860,000, compared with the county's price of USD 743,000.

More than four in five Indian adults have at least a bachelors' degree and Indians are most likely to be white-collar professionals, with about 80 per cent engaged in management, professional and related occupations.

Kailash Joshi, a prominent Indian entrepreneur, told the Mercury News that he believes Indians flourish in the US not just because of their commitment to education, but because their native country prepared them for America's ethnic, linguistic and religious diversity, and its aggressive market economy.

A significant share of the valley's Chinese population lacks an advantage its Indian counterpart enjoys - English.

Gordon Brown praises India's culture

2007-11-17T13:35:00.000+01:00

British Prime Minister Gordon Brown was the star attraction at Diwali celebrations at the House of Commons where a spokesman of Hindu Forum of Britain described him as "Govardhan" Brown and a honorary member of "our community."

Addressing the packed gathering, including NRI industrialist Lord Swraj Paul, Keith Vaz, MP, former minister and several members of his cabinet on wednesday evening, Brown praised India and its culture.

The Prime Minister lauded the efforts of the Hindu Forum of Britain in helping the Indian community integrate with the British society and hoped that it would continue its role in a much bigger way.

Brown said he would be going to India in January and would like to take with him the message of "success of British Hindu community to India" and share it with "Prime Minister (Manmohan) Singh, who is a good friend."

He also praised Keith Vaz for taking the lead in organizing the Diwali festival in the House of commons.

Welcoming the Prime Minister, Ramesh Kallidai, Secretary General of the Hindu Forum of Britain, recalled his presence at the Diwali celebrations last year where Keith Vaz had predicted that "the future is Brown" and "you will come back as the PM."

"And today, nothing can make the Hindu community happier than to fulfill Keith's words. We are delighted to welcome you to this Diwali event as our Prime Minister."

He said the forum has been hosting the cross-party event in the House of Commons for six years. "Our organisation's motto is simple: Proud to be British, proud to be Hindu."

Addresing the Bristish Prime Minister, Kallidai said "your name 'Gordon' is very auspicious. Another meaning for the name Gordon is 'hill with meadows'. But in Sanskrit, it is name for Lord Krishna, and it also refers to a sacred hill - Govardhan.

"We would therefore like to welcome you as an honorary member of our community, not as Gordon Brown, but as Govardhan Brown," he said.

According to Kallidai, over 80 Parliamentarians, several Cabinet Secretaries and 200 multi-faith leaders attended the Diwali celebrations.

Participants were welcomed with the traditional 'tilak' being applied to forehead and sweats.

The Members Dining Hall was transformed into a mini-India with lamps, colourful rangoli patterns, sacred food displays, exhibits, Indian sweets, gifts and incense.

India bullish on M&A in the EU, US

2007-11-17T13:32:00.000+01:00

New Delhi: With Indians bullish on international acquisitions and mergers, the Indian enterprises are expected to buy about 400 corporations in the European Union and the US.

According to a report by European Institute for Asian Studies (EIAS) and Assocham titled ''Dynamics of Mergers and Acquisitions', easy availability of funding, renewed business confidence, relatively stable economic and political regime would be the principal factors, leading to intensifying of (M&A) activities between India, the EU and the US.

''During 2006, Indian companies had acquired more than 180 companies in Europe and US and their number would exceed 210 for Europe and America by end of the current fiscal,'' said Assocham President Venugopal N Dhoot.

The acquisitions are helping Indian companies emerge as a significant player on the global stage with six indian companies featuring on the Fortune Global list of biggest companies in the world.

Based on the current growth and M&A trends, this number is expected to double by 2010 with 15 fast growing Indian companies poised to radically transform industries and markets around the world, added Dhoot.

India�s economy is expected to keep this pace for at least a decade, surpassing the UK by 2015. However, the Paper recommends a comprehensive competition policy framework is needed both in India and the EU so that trade facilitation takes place to boost up merger and acquisition activities so that Indian public sector enterprises also become its integral part.

The India-EU trade has grown impressively over the years, from 4.4 billion euros in 1980 to 40 billion euros in 2006.

During the seventh EU-India Summit in Helsinki in 2006, an agreement was singed to negotiate bilateral deal on trade and investment which aims to eliminate 90 per cent of tariffs covering goods, services investment, trade facilitation, commerce and industry within seven years of the agreement coming into force.

The EU is India�s largest source of foreign direct investment, especially in services. However,India accounts for just 1.7 per cent of EU's total trade and attracts only 0.3 per cent of its world-wide investments.

India�s economic engagement with the world during FY 2006-07 is likely to exceed 450 billion dollars, including export and import of goods and services.

The country is now among world�s most competitive producer of steel, auto component, pharmaceuticals, chemicals offering low-cost high value products and the future M&A activities between India and Europe would also concentrate around them, says the Paper.

Trade with the EU constitutes almost a quarter of India�s exports and imports and it has the potential to grow much more, but one of the reasons impending India�s exports to the EU are the many non-tariff barriers that restrict their entry into the EU market, the Paper added.

The Paper recommends that suitable policy measures be taken at bilateral levels between India and the EU so that the trade barriers go off and create conducive atmosphere and climate, so that trade facilitation�s flow in smooth manner and create room for absorption of corporations.

India climbs to 15th in world ad ranking

2007-11-17T13:30:00.000+01:00

MUMBAI: Indian advertising has just scaled a new high. India has moved up six notches from 21 to 15 in the list countries with the highest advertising awards, according to the Gunn Report of 2007.

India has moved ahead of China, New Zealand, Mexico and South Africa, among others, to notch up a total of 39 points for award winning campaigns in Print, TV and Interactive. In addition to this, HappyDent Palace, one of the most awarded commercials from this year, made it to the top 10 most awarded commercials in 2007.

The Gunn Report is an annual rating of creative work based on the awards won by advertising agencies in nearly 60 different award shows. Donald Gunn, the author of the Gunn Report, had been with Leo Burnett for over 35 years. The country with the most awarded advertisements is the US, which nudged ahead of the UK in 2007.

Besides HappyDent, only one other Indian ad made it to the most awarded list. Ogilvy & Mather’s ad for Indian Association for Adoption, which was the 12th most awarded print campaign of 2007. The most awarded TV ad was Sony Bravia’s Paint ad, created by Fallon, while the print honours went to Clima Bicycle Locks, created by Leo Burnett Bangkok.

As a result of creating two highly awarded ads, both McCann Erickson and O&M have made it to the list of most awarded agencies globally. McCann stood joint 22nd while O&M stood joint 45th.

Says McCann Erickson India chairman and NCD Prasoon Joshi: “We were certainly expecting to score high because we’ve performed very well and got global accolades. But we didn’t expect to see HappyDent in the top 10.” Mr Joshi felt that the work from Indian agencies was improving but everyone would have to do consistently good work to be able to move into the top 10 next year.

Also making an entry into the list was Equinox Films, headed by Ram Madhvani. Equinox was joint 17th with a total of nine points for the most awarded production houses. Ram Madhvani retains his 11th place as the most awarded director.

This year, the Gunn Report has also included interactive as a category to evaluate creative performance for agencies, and a few Asian countries haven’t had enough to show in this category. Had India been evaluated on Print and TV scores alone it would have been ranked 13th.

The most awarded agency for 2007 went to TBWA/Chiat/Day (New York) which was ranked a lowly 43 last year while BBDO retained the most awarded agency network for 2007, making it five wins out of nine Gunn Reports.

Stocks rising for India’s billionaires

2007-11-17T13:28:00.001+01:00

India’s dollar billionaire club has got bigger and fatter this year, powered by a surging stock market that made the old rich get phenomenally richer, while ushering in new billionaires who control growing real estate and infrastructure companies.

Forbes, the US-based magazine that tracks billionaires worldwide, largely on the strength of the share market value of their holdings measured in US dollars, said on Thursday that led by steel baron Lakshmi N. Mittal, who is worth $51 billion, the top four Indian billionaires are collectively measured at $180 billion. That is nearly Rs 7.2 lakh crore.

These four, who include brothers Mukesh Ambani ($49 billion) and Anil Ambani ($45 billion) and DLF chairman K.P. Singh ($35 billion),

together are worth more than the top 40 of Chinese billionaires.

Collectively, Indian billionaires were worth more than $351 billion, more than double the $170 billion last year, thanks largely to the surge in the value of the stocks they own.

The rich list of India contains 40 US dollar billionaires, who include names such as Vijay Mallya of the UB group, Venugopal Dhoot of Videocon, Wipro’s Azim Premji,

Kumar Mangalam Birla and wind power baron Tulsi Tanti of Suzlon.

The net worths fall when shares do. The bulk of the new billionaires are from the real estate and infrastructure sectors which are riding high on the back of stock market listing of companies feeding a hunger for homes and offices and sitting on large tracts of urban land bought many years ago.

India-born Harvard alumnus' gift to alma mater

2007-11-17T13:25:00.000+01:00

New Delhi-born Sanjeev K Mehra, managing director and partner in the principal investment area of Goldman, Sachs & Co, where he leads the industrial private equity investing effort and is the key benefactor of the envisaged $4 million South Asia chair at Harvard University, says it is simply a case "of giving back".

Mehra, who came to the US at age 19, told rediff.com in an interview that he and his wife Karen Peterson Mehra, whose gift would endow the 'Mehra Family Professorship of South Asian Studies' in support of Harvard's major expansion of activity related to South Asia, "both met at Harvard College where we were both classmates in 1982, where I was an economics major and she was doing government studies."

After their undergraduate degrees, after a two-year stint at McKinsey and Co, Mehra went to Harvard Business School from where he received an MBA, while Karen went on to do a masters in anthropology at Columbia University.

"I have benefited in many ways from Harvard and so did she," he said, and added, "After all, we met there, and so we were trying to figure out how to contribute back and the idea came up of trying to do something that would link India and America."

"When I was at Harvard there was very little study of India and South Asia. There was a lot of study of China and Japan, but very little of South Asia, and given that one in four people in the world live in the Indian subcontinent, we felt it was important to shine the light on what was going on there. And, to do so, not in a sense of its history or mythology or religion -- there has been a lot of focus on that (at Harvard)," Mehra said.

"What we said is, we'd like this professorship to be focused on contemporary India, and it didn't have to be tied to any one area of expertise and it could be university-wide -- so giving the university the most flexibility to appoint someone that met their needs," he explained.

Mehra also said that there was no specificity that the professorship be tied to contemporary India, vis-�-vis business and economy, "but all of the contemporary India -- social issues, political issues, economic issues, all of those. Things that affect people's lives day to day in the country."

He said the discussions had gone on for some time with Harvard faculty led by the director of the South Asia Initiative Professor Sugata Bose and a number of other professors at Harvard, "but there was never enough critical mass, and finally I think enough of us got together and said this is the right time."

"And, it happened to coincide with my wife and my 25th reunion or graduation from Harvard and so we thought it was the right thing to do," he added.

Mehra said the selection of the scholar who would occupy this chair when it is established, was "entirely up to the university. They'll inform us of course, but it's their decision."

Mehra said ultimately his hope was that this chair and the South Asia Institute would "allow a lot more students and faculty to experience and learn and research about India and for Harvard to be the center of not just Indian, but South Asian studies in America, where it is viewed as the 'go to' institution -- where there will be the South Asia experts, where there would be people of importance from India who will come visit regularly and people from the university who travel on behalf of Harvard to India. Essentially, bring the two worlds a little bit closer, both in terms of understanding and impact on our society."

Mehra said it was a no-brainer that India "is already a major global player," and that his own company that has been invested in India and "has a long history there," had recently redoubled its "efforts over there."

"There is no Fortune 500 company board that doesn't think about what it's doing in India, its India strategy and so forth," he argued. "India has always been an important factor," in the globalising world, "but now, given what's going on in the last five years, it's emerged as a force in its own right."

Mehra spoke of how the exponential growth of Indian companies holding their own among the leading multinationals of the world "and the wealth creation that's taking place there, the approach that the government has, the coordination with business in terms of what they are trying to achieve. These are all new things and I believe there's no going back."

He acknowledged that he was "not so close to what goes on day to day in terms of monetary policy," to predict if the declarations of the likes of Finance Minister P Chidambaram and others are on the mark in terms of India likely to maintain sustained growth rates of 9-10 per cent annually with no fear of the economy over-heating.

But Mehra said he believed India today, was awash with "enlightened leadership, people who are technocrats, people to understand the global economy, who understand that India is inextricably linked to what's going on in the world -- that it cannot be an island, that the policies cannot be so different from the rest of the world, whether it's privatisation or inflows of capital or how Indian companies grab the incentives to go abroad, etc."

Besides serving on PIA's investment committee and heading up its operating committee, Mehra, who joined Goldman Sachs in 1986, also serves on the business practices committee of the firm.

He is also currently on the boards of Adam Aircraft Industries, Inc, ARAMARK Corporation, Burger King Corporation, KAR Holdings (Adesa), Hawker-Beechcraft Holdings, Sigma Electric and SunGard Data Systems. He also serves on the board of trustees of Trout Unlimited and Oakman School, England.

Now Made in India Router

2007-11-17T13:24:00.001+01:00

Bangalore: BA Systems has launched EN 3500 - a �Made in India� router. Conceptualised and designed out of Bangalore and manufactured out of Chennai, it is a carrier grade, multi-process modular router operating system with inbuilt firewall, VPN, QoS, IDS, IPS and content filtering.

�The EN3500 provides enterprises an alternative to high-cost non-local products, by combining latest technology, future-proofed architecture, yet cost-effective. Combined with loc al support, BA Systems is well primed to provide both Capex and Opex savings to the enterprise,� said P.J. Singh, Founder & CEO, BA Systems, in a release.

The Point-Click-Enable feature of the EN 3500 empowers the user to point and click on the BA Systems Management GUI to configure, monitor and troubleshoot devices anywhere on the network.

India crosses rocket science milestone

2007-11-17T13:22:00.000+01:00

Indian space scientists have reached a new galaxy with the successful test of the indigenous cryogenic stage which powers the gigantic Geosynchronous Satellite Launch Vehicle (GSLV).

Indians have joined an exclusive league of scientists — from the US, Russia and Europe — who have the capability to design and build cryogenic engines which are critical for hoisting communication satellites as well as manned missions to space.

With this test today, we have a mature technology in cryogenic... They (scientists) are jubilant and confident of facing the future challenges of the GSLV-Mk III equally well. - G Madhavan Nair, Chairman, ISRO

The test was conducted for its full flight duration of 720 seconds at the liquid propulsion test facility at Mahendragiri, Tamil Nadu, on Thursday. With the successful completion of this test, the next flight of GSLV mid-2008 would be a cent per cent indigenous effort. “This test has given us confidence about the technology, systems and even helped us build a technology base of our own. It has also given the confidence to design a more powerful cryogenic for GSLV-Mark III scheduled to fly in 2009-end,” said ISRO head G. Madhavan Nair.

He said with such an engine, his organisation would be able to reduce the cost of launch of heavy satellites from about $20,000 a kg to about $12,000 a kg. “It will not only help our space programme but we will be able to bid for a slice of the global satellite launch market,” Mr Na

Next-Gen Windows Live In India

2007-11-17T13:16:00.000+01:00

Microsoft has launched the next generation of Windows Live equipped with a new set of tools and services in the country.

The updated Windows Live has built-in security features that promise users an easier way to communicate and share from anywhere and across multiple devices.
Regarded as an all-in-one package, the new service complements Windows Vista and desktop applications, thus connecting the offline and online worlds.

There are enhancements made to popular Windows Live services, including Live Hotmail, Live Messenger, Live Spaces, and Live Writer. Also, new fun tools, such as Windows Live Photo Gallery and Windows Live Events have been added to the service.

The new Windows Live mail will enable users to aggregate multiple inboxes from other accounts like AOL and Gmail and combine multiple contact lists into one, and simple access using a mobile phone. Also, the new messenger will allow sharing, video calling, and Voice over Internet Protocol (VoIP) capabilities.
Using the new Windows Live Photo Gallery, users will be able to find, fix, organize, and share photos and videos, as well as upload them to Windows Live Spaces, Flickr, or Soapbox on MSN Video.

According to Jaspreet Bindra, country manager (Online Services Business) of Microsoft India, Internet-savvy consumers are relying more and more on the Web to communicate and share with their friends and family. At the same time, they're also becoming increasingly frustrated with how difficult it's to keep track of all their email accounts, photos, blogs, address books, and other online information. According to Bindra, the superior level of digital technology will simplify all this.

The new Windows Live services also include Windows Live OneCare Family Safety, which provides tools to help parents protect children from inappropriate online content and contacts.

Those using Windows Vista or Windows XP operating systems can download the next-generation Windows Live service at http://get.live.com/.

Sachin Tendulkar: victim of his own achievements

2007-11-17T13:12:00.000+01:00

Gwalior: Exactly 18 years after making his international debut at Karachi, Sachin Tendulkar batted with the freedom of youth, not weighed down by the past few months. Here was a man with very little left to prove in his career, yet having to reinforce his stature in the one-day side. Here was a man with a calendar-year average of 48.10, with 13 fifties and one hundred, and the second highest run-getter this year after Matthew Hayden, but having his place in the side questioned.

And on Thursday, he scored 97 sublime runs before an inside-edge rattled his stumps. Those runs set the stage for Yuvraj Singh and captain Mahendra Singh Dhoni to take India to a convincing six-wicket win over Pakistan and also clinch the series with one match to be played on Sunday.

There is an explanation to the questions raised over Tendulkar’s inclusion. Tendulkar has been a victim of his own achievements. The more he has succeeded, the more has been demanded from him. Even the smallest failure has been nitpicked at and blown up into a large-scale frailty. Premature obituaries have piled on.

But none of that mattered at Mohali and at Gwalior in this series. The batting was free of pre-innings labels. What rode on it was irrelevant. Mohali began with some difficulty, but what followed was a rush of runs. There was power, precision, balance and ease. The first three were largely contemporary, but the fourth was throwback.

Gwalior was something else. The placid pitch and an equally placid attack offered a perfect platform. Shot after shot was pulled off with astonishing timing. The length was picked right out of the bowler’s hand and the footwork responded quicker to hand him the fate he might not have deserved.

Slow motion replays showed the amount he put his wrists through for the square-leg boundaries. It proved that the essence of his batting had remained tucked away in a corner, protected from disruptive forces. Age, workload, pressure and injuries might have rendered some of his strengths inadequate, but his genius — the essence — has remained.

If only Umar Gul hadn’t singled him out for a sudden fit of accuracy. Gul has a natural in-swinger that can cramp some for room. If Tendulkar wasn’t unfortunate as it was to have found Gul at his rare best in Mohali, he also found Kamran Akmal at his acrobatic redeeming self.

Gwalior was the harder one to accept. Playing a shot that had fetched him plenty, the swing quickly turned fatal, and the bails were off.

There was an uneasy lull in the 30,000-capacity stadium after that, when Yuvraj and Dhoni were constructing the series-win for India. The brilliant innings would go down as a match-winning one.

“What can I say about Sachin?” said Dhoni after the match. “We all felt awful when he got out in the nineties again. But it cannot take away what all he has achieved this year. We all hope and pray that he will get his next hundred soon.”

Tendulkar himself had a wry smile when asked about it. “The important thing is that the team won the series. These things are part and parcel of the game. If I keep thinking about getting out in the nineties, then it will be hard to get the next hundred,” he said.

Hundred No. 41 came in January this year, followed by six missed chances. Numbers and statistics can be cold-blooded. What they record are the dismissals, but what they do not reveal, is the genius that preceded them.

A new Indian-born CEO- Shantanu Narayen

2007-11-16T14:20:00.000+01:00

Adobe inches towards the $3 billion revenue mark, a new Indian-born CEO, Shantanu Narayen, replaces Bruce Chizen. He will be joining Adobe’s board of directors on December 1 this year.

He’s not new to the job, though, having been the company’s president and chief operating officer for the last three years. However, he wants to waste no time resting on past laurels.

His career began when he moved to Silicon Valley to work for Apple. Narayen earned an MBA from the Haas School of Business, UC Berkeley, in 1993 — studying nights while also working.

Following his tenure at Apple, Narayen did a stint at Silicon Graphics and then founded Pictra — an early entrant into the field of online digital photo sharing.

Narayen joined Adobe in January 1998 as vice-president and general manager of Adobe’s engineering technology group.

In January 1999, he was promoted to senior vice-president (worldwide products), and in March 2001 he was made executive vice-president (worldwide product marketing and development). He will now be at the helm of affairs.

Narayen faces global challenges as he takes the top spot at Adobe. Adobe, which offers Flash technology, widely used (installed on approximately 98 per cent of Internet-enabled desktops) to deliver media applications to computers, is seeing growing competition from Microsoft, which began offering a competing technology called “Silverlight” earlier this year.

Adobe has since combined Flash technology with its Reader technology to create a product called “AIR”, expected to be released next year.

Narayen says Adobe will continue to nurture innovation through its entrepreneur-in-residence programme. He intends to follow Chizen’s vision, which is to increase the core value of PDF across horizontal usage and also start shifting to a business model more geared to on-demand (or subscription) services and launch disruptive enterprise technologies.

What about India? The company is fast adding its headcount, building strategic products from India and capitalising its position in the emerging mobile market.

“With Adobe achieving a position in the digital media arena, I see our India centre becoming instrumental in our success story. India will emerge as an important centre, not because I am the CEO but because our development centre in Noida is one of the best. The research and development that happens out of India is second to none,” he says.

“There are a billion-odd customers in markets like China and India who access the Internet for the first time from mobiles. Getting the portable document format (PDF) on alternative devices is central to our strategy too.”

Also, as the set-top box becomes more a part of the living room to do things like browsing the web, Narayen believes it represents a great opportunity to extend the company’s PDF and Flash support.

World's-no-1-guru-is Indian

2007-11-11T13:24:00.000+01:00

MUMBAI: India gave the world the word “guru”. And now, an Indian has been declared the world’s foremost management guru. C K Prahalad, professor at the University of Michigan’s Stephen M Ross School of Business, has been crowned the greatest management thinker alive by Thinkers 50, an annual ranking of the top 50 management thought leaders in the world.

In this year’s Thinkers 50 — released in London on Wednesday — Prahalad (No. 3 last year) has trumped the likes of former US Federal Reserve chairman Alan Greenspan, strategy guru Michael Porter and Microsoft founder Bill Gates to emerge as No. 1.

There are three other Indians in the top 50: CEO coach Ram Charan at No. 22 (up from No. 24 last year), innovation guru Vijay Govindarajan of the Tuck Business School at No. 23 (No. 31 last year); and Harvard’s Rakesh Khurana at No. 45 (No. 33 last year).

"Not many management thinkers actually follow up important early ideas with genuinely groundbreaking future ideas. This is what C K Prahalad has managed to do. His work with Gary Hamel set the strategic agenda of the 1990s. Now, with "The Fortune at the Bottom of the Pyramid", he has established the social, entrepreneurial and economic agenda of our times," said Stuart Crainer and Des Dearlove of Suntop Media, the organisation which brings out the Thinkers 50 ranking.

TCS and INFOSYS are among worlds top 20 fintech companies

2007-11-11T13:22:00.000+01:00

NEW YORK: Four Indian companies, including two of the country's biggest IT firms, TCS and Infosys, have been named among the world's 100 biggest technology providers to the global financial services industry. Tata Consultancy Services has also emerged as the first Indian firm to be named among the top 10 in the annual FinTech 100 list of financial industry technology vendors that was released here.

Besides TCS and Infosys, I-Flex Solutions and Patni Computer Services have been named in the list. TCS moved up three positions from 13th last year to be ranked as 10th biggest technology vendor in 2007. Infosys also moved up four positions to 14th this year. It had been ranked at 18th position in 2006 and 28th in 2005.

I-Flex and Patni have been ranked at 30th and 45th positions respectively in the FinTech 100 list that is topped by Fidelity Information Services of the US. TCS is the only second non-US firm in the top ten, besides the UK-based Reuters (8th) in the list.

Other companies in the top ten include Fiserve (2nd), NCR (3rd), Diebold (4th), SunGard (5th), Unisys (6th), Broadridge Financial Solutions (7th) and First Data Corp (9th).

The annual ranking is being published for four years now by American Banker, a banking and financial services daily, and Financial Insights, a unit of global independent technology advisory firm IDC.

In an accompanying list of top 25 enterprise technology vendors for the financial services industry, none of the Indian companies could make the mark.

Last year, India's third biggest IT firm Wipro was named on this list at 22nd position, but has moved out this year.
The enterprise software list has been topped by IBM, followed by Hewlett-Packard, Dell, Fujitsu, Cisco, Microsoft, Electronic Data Systems, Hitachi, Siemens Business Services and Accenture in the top ten.

Other companies on this 25-member list include Sun Microsystems, Intel, EMC, Computer Sciences Corp, Oracle, ATOS Origin, Capgemini, Getronics, LogicaCMG, SAP AG, Thomson Financial, Deloitte, Avaya, Symantec and BearingPoint.

In the FinTech 100 list of 2006, there were five Indian companies, TCS, Infosys, I-Flex (38th), Patni (50th) and SunTech (86th). While I-Flex and Patni have moved up in the rankings, Trivandrum-based SunTech has moved out this year.

American Banker and Financial Insights said in an accompanying report that all the FinTech 100 firms garnered more than 48 billion dollars in sales from financial institutions in 2006.

"The financial services industry relies on technology to remain competitive and address regulatory changes in an increasingly complex and dynamic market," American Banker Editor-in-Chief David Longobardi said.

"FinTech companies are growing faster than what the industry spends on technology... Acquisitions have played a part, but top vendors strive to become trusted partners with their financial institution customers," Financial Insights' Global Banking and Insurance Research Vice President Jeanne Capachin said.

The companies named to the list would be honoured at the BAI Retail Delivery Conference and Expo in Las Vegas on November 14 at the Mandalay Bay.

Mammal Origin in India

2007-11-11T13:21:00.001+01:00

Many present day plant and animal species might have their origin in India, a new find has suggested.

Scientists have suggested the new theory after the discovery of a 66-million-year old tooth in central India. The newfound tooth was unearthed in a sedimentary rock sandwiched between lava flows from the late part of the Cretaceous period, which spanned from 145.5 to 65.5 million years ago.

According to a new study led by Guntupalli Prasad of the University of Jammu, the tooth may have belonged to one of the condylarths, which were a group of primitive mammals. They included the ancestors of modern hoofed animals such as goats, horses, cows, sheep, and deer.

Because the newfound molar is about three million years older than the earliest known Condylarth specimen, this places it on the Indian subcontinent at a time when the landmass was a drifting island that had just broken away from the super continent called Gondwana. This has fuelled speculation about many mammal species originating in India.

"Many researchers had postulated that mammalian groups may have originated from basal Gondwanan stocks during the northward flight of India and finally dispersed to Asia when India collided with the Asian mainland around 55 million years ago," said Prasad.

Scientists are also supporting this theory because mammal fossils found on the southern continents that date to the time of Gondwana are quite rare.

"With a few minor exceptions, the only other place where there are really good records of mammals at that time is North America," said J David Archibald, an evolutionary biologist at San Diego State University.

But some researchers are puzzled about the primitive tooth's presence in India. "How did this animal get onto India, when the landmass was probably about in the middle of the Indian Ocean on a rapid drift northward?" asks Kenneth Rose, a palaeontologists. "That's one of the really intriguing questions here. If it is an ungulate (hoofed mammal), it provides an interesting scenario that some primitive stock got onto India and later evolved into ungulates," he speculates.

An interesting hypothesis is that good interspecies exchange existed between India and the Asian continent even during the Cretaceous period.

If so, the early ungulates might not have originated in India but somehow moved there from northern locales, where their fossils are more commonly found. "But it's still quite interesting to realize that there is some kind of placental mammal that was on India in the late Cretaceous period," said Rose.

Wishing you all the joy, all the warmth, all the happiness, that will make this Diwali special for U and that will crown all your efforts with success

2007-11-09T15:38:00.000+01:00

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home delivery - happy diwali

Is there a market for new small cars?

2007-11-07T12:30:00.000+01:00

The future is with the small car

India might be a rapidly growing economy too, but it's the small car that's going to dominate our roads, generate volumes and strengthen manufacturers' bottomlines in future. Consider a few market realities: firstly, many more people are buying cars now than even a year ago and this number is growing exponentially. Overall, the Indian market for small cars – has grown 17% annually.

Secondly, with rising disposable incomes, Indians are graduating from bare-bones mini-cars to premium hatchbacks that offer a lot more in terms of space, comfort and aspirational value. This has been illustrated by the tremendous response to Chevrolet Spark since its launch few months ago.

Karl Slym
President & MD, GM India

While the market continues to expand in the mid-size category and above, these segments have not experienced the rapid, exponential growth seen in the small car segment. Unlike an upcoming car market like China where a car is about the first investment a youngster will make, real estate and other investments that save and build for a secure future is the order of the day today in India.

Which means that barring metros like Delhi and Mumbai, most other parts of the country are being driven by a need for a true value proposition – and the small car, which offers mobility and at the same time, costs little to buy or run, fits the bill perfectly.

This doesn't mean the big metros are off the radar. On the contrary, we see the growth of the 'second car phenomenon' in most cities, which means the need for the small car, is only being fuelled further. Let's look at the figures – in 2005, the small car market in India absorbed about 6.5 lakh cars. In 2006, sales rose to 7.8 lakh units. The estimates for 2007 is 9.12 lakh units.

So, is there growth in the future? Definitely. For 2010, estimates are 15.82 lakh small cars will be sold. And, this is going to be helped by the entry of a whole new category of small car in 2009 or thereabouts, which will retail at less than Rs 1.5 lakh.

Lastly, the average Indian is well clued-in to the trends abroad, and is quality and trend-conscious. Small cars might be the order of the day in the near future, but it's the latest offerings with the highest of credibility and value quotient that will succeed in the India of tomorrow

Two-wheeler owners potential buyers

Indian automotive market is currently dominated by two-wheelers, which account for almost over 75% of the Indian automotive industry. The two-wheeler production is currently roughly over eight million. The passenger vehicle penetration in India is amongst the lowest in the world (7:1000 compared to roughly about 500:1000 in the developed countries). This clearly demonstrates the potential for small passenger cars in India.

With rising per capita income, changing demographic distribution and the greater participation of rural India in the economic growth will also significantly benefit the passenger vehicle sales growth in future. The passenger car market is expected to grow from 1.7 million at present to three million by 2014-15.

Currently, the small car comprises over 70% of the overall passenger car segment in India and this trend is expected to continue. Small cars would be the vehicle of choice for those migrating from two-wheelers to a four-wheeler as well many first time buyers of passenger cars, given that such vehicles are affordable and costs less to run and maintain.

In addition, considering that all the metros and class B and C cities are getting overcrowded, customers prefer the smaller cars for overall driving comfort within cities. A new segment of cars costing less than $3,000 being developed by some original equipment makers will also help rapid migration from two-wheelers to four-wheelers.

In addition to the robust domestic demand for smaller cars, there is a growing demand for smaller car both in developing and developed economies. Some recent studies indicate that the global demand for small cars is expected to grow by 30% to 27 million vehicles by 2013. Much of the growth mostly will come from the developing markets.

Looking at the growth trend for the smaller car segment, the major global car makers — who has earlier ruled out inclusion small vehicles in their portfolio of product two decades ago on account of low profit — are now seriously looking at and entering into the smaller car segment. Considering the opportunities, there is a market for small car in India. Not just that, India can become a hub of small cars for the global automotive market.

Incredible India @ 60

2007-11-07T11:55:00.000+01:00

There could hardly be a better way to celebrate sixty years of Independent India than to invite some of the finest minds in the country to celebrate the idea of India and debate the future. And this is exactly what transpired at the Standard Chartered Bank Annual Global Markets client conference, which was held in Goa this year.

"This conference in the past focussed largely on financial market issues. However given the most topical issue being India @ 60 we decided to celebrate the India story this year. Having been in the country for 150 years our fortunes and those of our clients are inexplicably linked to the country story" says Mr. Hemant Mishr, Managing Director Global Markets , Standard Chartered Bank (SCB) India.

The event was a mix of the eclectic and the erudite. On one hand you had veteran journalist and former union minister, Dr. Arun Shourie expounding on India's economic development while on the other hand Sir Mark Tully, a man who has chosen to make India his home, compared and contrasted the Indian approach to life from that of the western nations and even West Asian nations. And then there was the legendary Kapil Dev who gave a twist to the discussion when he spoke on the role of sports in creating a happy and prosperous nation.

The event kicked off with a video that showcased the moments, which define the last sixty years of India's independence - the triumphant Kapil's team holding aloft the 1983 cricket World Cup, the economic reforms of 1991 which have helped India get where it is, the IT boom of late 90 and the telecom revolution.

Mr. Sundeep Bhandari, Managing Director & Head of Global Markets for (SCB), South Asia then took centre stage. He combined his experiences as an Indian and as a global banker to illustrate the paradigm shift that has taken place in the Indian economy. To his mind nothing illustrated this better than the journey of the Indian rupee. "In the early 1990s when capital flows were liberalised, the predictability of the rupee was in one direction - depreciating against the dollar.

Then during the early part of this decade we saw tremendous volatility in rupee. Today I see a step change in the rupee, it is consistently appreciating and there is expectation that rupee may appreciate significantly by 2010. For me this signifies paradigm change in India's financial market," said Mr. Bhandari.

Mr. Bhandari went on to say that he felt privileged to be part of this incredible change happening in India: "From the days when there was a dearth of foreign capital, we have come to a stage, where a deluge of foreign money is waiting to come into India. The trend is very clear; we are living in an age of hyper growth."

Having set the tone for the session, Mr. Bhandari then invited Dr. Arun Shourie, former union minister and Mr. Neeraj Swaroop, Chief Executive Officer of Standard Chartered Bank (SCB) India on to the stage. Mr. Shourie, who was also the guest of honour, then lit the ceremonial lamp.

In his opening remarks, Mr. Swaroop said that those of us living in India in a sense tend to underestimate the excitement and interest that the Indian story has generated and is continuing to generate. "The world is spending a lot of time looking at India and trying to find out what's happening here.

Those of us within the system don't realise the extent of change that is taking place. It is important to take stock of this change on platforms such as this one, because this is what will determine our future." He briefly dwelt upon the Bank's operations in India and its growing importance in SCB's global scheme of operations. Interestingly, SCB's first global bank opened in Kolkata in 1858. Today the Indian operations contribute nearly 16% of the Bank's global revenues, making India one of its largest markets.

The day however belonged to Dr. Shourie, a man who has worn many hats. An erudite speaker, Dr. Shourie took the audience on a journey of India's economic development through the last 60 years and also articulated the concerns that need to be addressed as we move ahead. He said that India's growth has been backed by a marked improvement in the competitiveness of Indian industry and faster export growth. He pointed out that the Indian economy has come a long way from the period of the 'Hindu rate of growth' in the 1960s and 70s to the hyper growth phase we are living today.

In order to make growth sustainable he argued that it would be imperative for the corporate India to provide thought leadership. He also cautioned against being too insular. He asked the audience to study socio-economic changes in our neighbourhood and major countries so that we are prepared to face the opportunities and challenges of the future. "Do we know for example that while India is facing population explosion, Europe is struggling with declining population, or that Mohammed is now the third most popular name of a boy child in Europe? We can't ignore these changes as they will define future," said Dr. Shourie.

He also requested the business community to be more alive to the challenges of climate change and the depletion of natural resources especially hydrocarbons. "Disowning the responsibility of environmental degradation will only postpone the problem. India and China must take responsibility of environment," said Dr. Shourie.

The pressing need he said is for Indians to challenge conventional wisdom and look for new solutions. "Will a Rs. 1 lakh car really solve India's transport problems?" Other issues that he believed which needed to be dealt with included the quality of governance and the urgent need for reforms in the pension and social security system.

While most speakers would have found Dr. Shourie a tough act to follow, it was a testimony to the stellar line up of speakers, that the man who followed Dr. Shourie had an equally formidable reputation. And that was Sir Mark Tully. No body knows the soul of India better than Sir Mark given that he served as the BBC India chief for over 30 years travelling to the farthest corners of India reporting on events and issues and meeting vast spectrum of Indians.

He has also authored nearly half a dozen books on India. Speaking on the theme of progress and its pitfalls he cautioned the audience about trying to paint India with the common brush of globalisation. "It's true that we live in a globalised world and events in faraway places affect India. However I must say that India is incredible because it's different; imported or transplanted solutions don't work here."

He illustrated this by contrasting Indian culture and value system with that of the European or West Asian cultures. "You think of Rome, you think of Athens or Cairo, you think of very ancient cities. But these are the cities, which have broken their links with the past. In contrast when you think about an Indian city like Varanasi you think of a city whose link with the past still survives," said Sir Mark.

He said that the strength and adaptability of Indian culture sets it apart from other ancient cultures, all of which have disappeared. According to him Indian culture survived because of its flexibility, its adaptability and its openness to new cultures, new people and new ideas. "In contrast to Semitic religions, Indians have not been seduced by a search for certainty. Indians are always willing to accept uncertainty and change in best of times. This leads Indian to be flexible about their beliefs and follow a middle-path."

Sir Mark's cerebral analysis was followed by a more analytical address by Mr. Bala Swaminathan, Head-CR, SCB South Asia. Mr. Swaminathan believed that while India was poised for greatness one of the key impediments was the lack of infrastructure. He pointed out that unless India as a nation took urgent and necessary steps to resolve the infrastructure issue, growth could slow down in the future. Said Mr. Swaminathan, "If the infrastructure spending takes off as planned it will lead to an acceleration in the GDP growth. In the past it has happened in US during the 1960s and in China in 90s and there is no reason to believe why it shouldn't happen in India."

He was followed on to stage by a man speaks straight from his heart - Kapil Dev. This former Indian cricketer great gave the session a whole new twist by bringing the role of sport into the activity of nation building. He argued that though economic prosperity is important, entertainment and sports is equally crucial. "What's the use of wealth if you can't enjoy it or you don't have a healthy body? So buy a pair of sports shoes and hit the grounds. Healthy minds need an equally healthy and fit body," he said. It was a suggestion that found great acceptance within the audience.

The speeches were followed by a panel discussion on Vision India: 30 years from now. Along with the main speakers, the panel had Mr. Rajiv Garg, CEO of JSW (US), participating in the discussions. The session was moderated by Mr. Hemant Mishr.

India needs quality leadership: Kalam

2007-11-07T11:38:00.000+01:00

This will help reduce disparities and conflicts between the states thus helping in attaining non-linear growth, Kalam said in his address at the Fourth International Conference on Federalism here.

"Working together is the need of the hour. The nation can work together on common issues for achieving sustainable growth," the former President said.

"India has 28 states which are multi-religions, multi-lingual and multi-cultural...Hence the solution to the problem and development also should be region-based," he said and added region-based growth will give a fillip to growth and provide equal opportunities.

A federal economy should aim at reducing the rural-urban divide while providing a prosperous and healthy future devoid of terrorism and having a sustainable growth, Kalam, who during his tenure as President had been advocating at Providing Urban amnities in Rural Areas (PURA), said.

"We are a democratic billion people who need quality leadership," he said adding to succeed leaders require a shared vision for the nation, with an ability to take real time decisions, to travel along an unexplored path and nobility in management.

Baby, You Can Plug In My Car-India's electric car Reva sets the wheels in motion in climate-conscious UK

2007-11-07T11:33:00.000+01:00

Where's my wire: A Reva charging point in London's Covent Garden area

Thrifty Lady
* No engine, only a motor. No fuel tanks, no exhaust, no emissions, and no noise.
* Drive 10 km every day for a year for the price of a single tank of petrol
* Speed 70 km an hour, range 80 km on a single charge from a normal socket for a
few hours. Charging stations introduced in central London.
* Parking free, and no congestion charge either in the UK. Savings on this alone
pays for the car in a year.
* Zero emissions; save the climate, and money
* Car service at your door
It's only a little longer than a longish stride and as silent as tip-toeing; it's a car without a conventional engine or fuel tank that so far only Bangalore and London really share.

A member of the Green Party can drive to a meeting where a parked G-Wiz will say what words can never.

G-Wiz: that's what the London distributors of the Bangalorean Reva car are calling it. And that's what an excited London media is exclaiming too. Just about every newspaper and TV channel here has been smitten by this little phenomenon on wheels.

With about 900 cars on London's roads, a fair bit more than the 650 in Bangalore, G-Wiz has claimed more attention than sales so far. But this is a breakthrough car; the first car to run on batteries that works in an everyday kind of way. At 70 km an hour, it is fast enough for city driving, and with an 80 km range on a single charge of a few hours in an ordinary electric socket, it gets far enough for ordinary use. It's cheap to use; you can run it for a year averaging 10 km a day for the price of a single tank of petrol. At £7,000 (Rs 5.7 lakh), the cost is not as little as you'd like. But count in the savings, and that price can drop pretty fast.

And the price could come down. "The cars are imported from Bangalore, which means we pay import duty of 6.5 per cent, and VAT 17.5 per cent," says Keith Johnston, MD of GoinGreen, the car's London distribution company. "We're really looking for a signal from the government to cut taxes and to offer incentives for imports, in order to bring down the price further." The car does need more than 900 owners.

So, who are these 900? "They are environmentally aware, well-educated and reasonably affluent," says Johnston. "Age-wise, they are across the board, but it's mostly the middle-aged urban professional." The zero emission from the car itself answers a rapidly louder call across Europe for cutting carbon emissions from car exhausts. An industrially induced rise in carbon dioxide content in the atmosphere is thought to contribute to global warming, precipitating unwanted climate change. That makes G-Wiz perfect for a globalising conscience of the green-minded.

You'd like to think you're driving from point A to B without a speck of a glacier melting along the way. But, of course, the glacier will not remain untouched if power to the point you plug the car into has come from a power plant burning oil or coal, and therefore sending off those warming emissions. But, at least the owner is not twice the sinner. In the ideal world, power to that plug point would come from a solar panel or a wind turbine. That's when a member of the Green Party can drive to a meeting where a G-Wiz parked outside will say what words can never.

Right now the London G-Wiz driver is not doing that much to cool the allegedly warming world; it would be nasty to point out that these 900 cars, even with their Bangalore population added on, is just a minuscule fraction of the 700 million cars worldwide. But what does work, here and now, is "the saving of those other emissions from the pocket", quips Johnston.

London is peculiarly placed to cut these emissions.

Parking in central London, otherwise prohibitively priced at up to six pounds an hour, is free for G-Wiz. That could mean a saving of 20 pounds a day or more on just parking in central London. Save also the eight pounds a day congestion charge slapped on those polluting cars for driving into London. "You could save up to £600 a month on this car, in a year it will pay for itself," says Johnston.

So this, more than its 'greenery', is the car's big selling point. Well, it's certainly true for Rachel, inspecting the cars at the distribution centre in Southall. Rachel is less worried about capsizing island countries (because warming atmosphere melts glaciers and so sea levels are rising, they say) than her bills. She runs a small courier company in Hounslow, located to collect packets from nearby Heathrow. For distribution in central London, she thinks her usual petrol-driven car can take her packets up to Hammersmith just outside central London. Then on, a G-Wiz could take over, with enough room on the left seat, and with the back seat flattened to make room for parcels. This can bring substantial savings that, she says, she can pass on to clients, consequently making herself more competitive.

But the car can mean savings to just anyone. Just plug it in as you would a toaster, and away you go in a couple of hours, with 80 per cent charged. The remaining 20 per cent takes more than twice as long, for reasons that batteries know best. So it's not the car in which you'd want to explore the highlands and islands of Scotland. It's the car for local hopping. In time, people will get used to G-Wiz workers who need a power point, and guests who drop in and plug in.

But on the other side, London's eccentricities are not an unmixed blessing. The car needs off-street parking simply so a normal electricity cable can be plugged into the battery. Running an electric cable across pavement space into the car is not exactly illegal, but if someone were to trip over it and fall, you could lose a lot more than the car can save you.

Now Westminster council in central London has begun to put up power points where the batteries can be charged as you park. That should make even a longish ride into central London possible. The problem is to make that mental leap from the idea of a 'proper' car to riding a trail-blazing insect. But even conventional car manufacturers now see Reva as a sign of times to come. The ceos of Nissan and Renault have just said that the future is electric. And not hybrid either, where you might mix the two; doing both is expensive, among other things. By 2012, many conventional car makers are planning to launch purely electric cars.

Reva, with its English cousin G-Wiz, is gearing up for the new competition. The insect has already metamorphosed swiftly from DC current to more efficient and powerful AC usage. Its older drive system is being changed to make the car a good deal nippier. A new generation of lithium-ion batteries will be introduced in 2008 to make charging quicker, and last longer. Software is not all that Bangalore has to show to the world.

Chetan Maini, chief technology officer of Reva Electric Car Company, got the idea of the green car from his days at the University of Michigan, US, in the 1990s. He teamed up with Dr Lon Bell from California to work out manufacturing in India. "The styling and engineering was done jointly by a team in the US and in India," Maini says. Distribution centres have now been set up in Norway and Spain, and others are planned in Cyprus, Greece and Ireland.

It's all on low budget. Reva sells in London without a showroom, without an advertising or marketing budget.There are no car salesmen; existing users offer to take new customers on a test drive. You buy online, servicing comes to your door. "Our showroom is the streets of London," says Johnston.

That means that with the distribution centre located in Southall, no one gets to see the car more than Southall Sikhs—and nobody seems less interested. There has been only one inquiry from Southall so far, and that didn't lead to a sale. "It's a bit odd, isn't it?," says Johnston. But then he doesn't understand Sikhs. The car is environment-friendly, not sardar-friendly. As seen by Southall's Sikhs, G-Wiz suffers a continuing problem: it never will be a vaddi gaddi

Indian girl separated from twin

2007-11-07T08:50:00.000+01:00

BANGALORE, India (AP) - An extensive operation on a 2-year-old girl born with four arms and four legs went ``wonderfully well'' doctors said Wednesday as they announced that she was safe and stable after more than 24 hours of surgery.

A team of 30 doctors successfully removed the child's extra limbs, salvaged her organs, and rebuilt her pelvis area, Dr. Sharan Patil said Wednesday from a Bangalore hospital.

``Beyond our expectations, the reconstruction worked wonderfully well,'' Patil said.

The girl, named Lakshmi, had been revered by some in her village as the reincarnation of a Hindu goddess.

Lakshmi was born joined to a ``parasitic twin'' that stopped developing in the mother's womb. The surviving fetus absorbed the limbs, kidneys and other body parts of the undeveloped fetus.

The doctors worked through the night to remove the extra limbs and organs, surgery that doctors say will give her a good chance to live past adolescence. The procedure included separating the fused spines along with removing the extra limbs and the rest of the ``parasite,'' said Patil, the orthopedic surgeon leading the operation.

Children born with deformities in deeply traditional rural parts of India, like the remote village in the northern state of Bihar that Lakshmi hails from, are often viewed as reincarnated gods. The young girl is no different - she is named after the four-armed Hindu goddess of wealth

``Everybody considers her a goddess at our village,'' said her father, Shambhu, who goes by one name. ``All this expenditure has happened to make her normal. So far, everything is fine.''

Two Indians are now global ‘environmental heroes’

2007-11-06T20:37:00.001+01:00

Tulsi Tanti of Suzlon Energy and DP Dobhal of Wadia Institute of Himalayan Geology are awarded the title by Time magazine

NEW DELHI: Two Indians have made it to Time magazine’s global ‘Environment Heroes’ list. Tulsi Tanti, chairman of wind power firm Suzlon Energy and DP Dobhal of Wadia Institute of Himalayan Geology will now rub shoulders with other prominent names like Nobel Peace Prize winner and former US Vice-President Al Gore, German Chancellor Angela Merkel, Prince Charles and former Russian President Mikhail Gorbachev.

Tanti, chairman of Suzlon Energy, the fourth largest wind turbine maker in the world, has been named one of the ‘moguls and entrepreneurs’, while Dobhal, a glaciologist, is part of the scientists and innovators category.

“The environment isn’t bound by borders on the map and neither are our heroes. So we selected candidates from developed countries, where environmentalism has had time to take root, and from developing nations, where tomorrow’s green battles will be fought,” the magazine said in the cover story of its latest Asia edition.

Quoting Tanti, who is convinced that wind energy will emerge as the energy of the future, and that his company will help launch it into the market, the magazine says, “... green business is good business. But it’s not just about making money. It is about being responsible also.”

Incidentally, Tanti switched to wind energy when he had to buy two turbines to meet the energy needs of his textile company in the late 90s. Upon reading a report that some of his favourite destinations would be affected by carbon emissions and that islands like Maldives would be underwater by 2050, Tanti had a vision.

“If Indians start consuming power like the Americans, the world will run out of resources. Either you stop India from developing, or you find some alternate solution,” Tanti is quoted as saying. In 2001, Suzlon sold off its textile manufacturing firm and entered into the field of wind turbine generators.

The other hero, Dobhal, 45, works for the Wadia Institute of Himalayan Geology, one of the few organisations studying high-altitude Himalayan glaciers. “Glaciers are very sensitive to climate change. Their state indicates or helps diagnose the state of surroundings,” says Dobhal. Interestingly, Dobhal makes use of bamboo sticks to measure the rise and fall of glacial mass.

His work is all the more important since Himalayan glaciers have been studied by lesser number of scientists than those who do glaciers in Alps, the Rockies and the Arctic, points out the report.

Diwali-Festival of Lights and crackers

2007-11-06T17:21:00.000+01:00

Why is Diwali celebrated?"

Indians celebrate Diwali with great passion. They fire lots of firecrackers and eat sweets and wear new clothes. Why is Diwali so important in India?

Diwali is the day when it is said that Lord Rama returned to his kingdom Ayodhya after conquering Lanka. Lord Rama was asked by his father Dashrath to go to the wild forests for fourteen long years. In the forest Ravana, the king of Lanka, abducted his queen Seeta. Lord Rama was along in the jungle with only his brother Laxaman with him. In the forests Lord Rama met the monkey king Sugriva.

Sugriva sent monkeys around the world to search for mother Seeta. Finally Lord Hanumana found Seeta in the kingdom of Ravana at Lanka. He burnt Lanka and came back to inform Lord Rama about mother Seeta. Lord prepared a large army of monkeys and bears and invaded Lanka. Ravana was defeated. Vibhishan the brother of Ravana had joined Lord Rama in the battle. After defeating Ravana Lord Rama returned to Ayodhya his kingdom after fourteen long years.

Indian Hindus celebrate Diwali as a day of celebration. Candles are burnt in every home. People clean their homes and wear new clothes. Sweets are shared and people wish each other. Diwali is the biggest festival of India that celebrates the victory of good over the evil. Indians all over the world celebrate Diwali and it is also the beginning of new year as per the Hindu calendar.

"How Diwali is Celebrated ?"

This festival is celebrated on a grand scale in almost all the regions of India and is looked upon mainly as the beginning of New Year. As such the blessings of Lakshmi, the celestial consort of Lord Vishnu are invoked with prayers. Even countries like Kenya, Thailand, Trinidad, Siam and Malaya celebrate this festival but in their own ways.

This Diwali festival, it is surmised dates back to that period when perhaps history was not written, and in its progress through centuries it lighted path of thousands to attain the ultimate good and complete ecstasy.

Diwali or more aptly Deepavali is very enthusiastically celebrated for five continuous days and each day has its significance with a number of myths, legends and beliefs.

The First day is called DHANTERAS or DHANTRAYODASHI which falls on the thirteenth day of the month of Kartik. The word "Dhan" means wealth. As such this day of the five-day Diwali festival has a great importance for the rich mercantile community of Western India. Houses and Business premises are renovated and decorated. Entrances are made colourful with lovely traditional motifs of Rangoli designs to welcome the Goddess of wealth and prosperity.

To indicate her long-awaited arrival, small footprints are drawn with rice flour and vermilion powder all over the houses. Lamps are kept burning all through the nights.

Believing this day to be auspicious women purchase some gold or silver or at least one or two new utensils. "Lakshmi-Puja" is performed in the evenings when tiny diyas of clay are lighted to drive away the shadows of evil spirits.

"Bhajans"-devotional songs- in praise of Goddess Laxmi are sung and "Naivedya" of traditional sweets is offered to the Goddess. There is a peculiar custom in Maharashtra to lightly pound dry coriander seeds with jaggery and offer as Naivedya.

In villages cattles are adorned and worshipped by farmers as they form the main source of their income. In south cows are offered special veneration as they are supposed to be the incarnation of Goddess Lakshmi and therefore they are adorned and worshipped on this day.

Pre-owned car industry to get a boom in India

2007-11-06T16:52:00.000+01:00

What you say about used? How will it be if you buy a used Mitsubishi Lancer or a used FordIcon and alter it with sporty designs? Will it look sporty if you put a nice spoiler on the rear of your car and cut short the ground clearance? Go Vroom. The Indian youth needs more designs rather than the usual black or white or red. It’s time to get your dream cars in India’s used car market at an affordable price. The global auto majors are looking for potential buyers of their vehicles in India’s used car market

India’s used car market has had a lone voyager inMaruti and its TrueValue program. Now, Honda’s Auto Terrace, Toyota You Trust brand,Hyundai’s Hyundai Advantage, and Ford's Ford Assured used car programs have entered the Indian car market. Statistics say that the used-car market counts for one million units across India. This industry is expected to grow bigger faster than in past years.

Here is the current scenario of the pre-owned cars industry in India. Toyota’s You Trust venture is all set to roll out at leading dealerships across the country by October end 2007. Honda is ready with their new team trained to focus only on its used-car program called Auto Terrace. The company’s used-car program is currently running in a small way and is expected to be a success soon. Ford Assurance and Hyundai Advantage programs are also doing competitively well in the industry. Last, but definitely not the least, our car guruMarutiis at the top with more than 90,000 used cars units sold through its True Value network.

China praises India for Dalai censure

2007-11-06T16:29:00.000+01:00

China on Tuesday praised the UPA government for asking its ministers to stay away from a recent function to felicitate Buddhist spiritual leader the Dalai Lama, whom it accused of trying to ''split China''.

Though being a religious leader, the Dalai Lama is involved in politics, China's Ambassador to India Sun Yuxi told reporters in New Delhi.

''I greatly appreciate the move by the Indian government,'' he said when asked to comment on the recent advisory of Cabinet Secretary K M Chandrasekhar asking union ministers to stay away from a function to honour the Dalai Lama.

''He (the Dalai Lama) is trying to separate and split China,'' Sun said on the sidelines of a function organised by the Federation of Indian Exporters Organisations.

The Cabinet Secretary had issued a circular, advising ministers not to attend the function on Saturday.

The Tibetan spiritual leader had returned from a visit to the US where he received the highest civilian award bestowed by the US Congress, much to the chagrin of China.

Indian American becomes Univ Chancellor

2007-11-06T13:59:00.000+01:00




Fifty-two-year old Renu Khator, landed in the United States as a young bride some 34 years ago from a small town of Farrukhabad in Uttar Pradesh. On Monday, she was appointed Chancellor of a major American university with more than 56,000 students on its rolls. With this, Khator has become the first Indian-American to have been appointed as head of a major US university - a remarkable achievement for someone who came to this country with a simple Bachelor's degree from a small time college in Farrukhabad affiliated to the Kanpur University. The University Of Houston Board Of Regents following its meeting announced Khator not only as President of the University of Houston, but also Chancellor of University of Houston Systems. This implies that Khator, who as of now is provost of the University of South Florida, would be administrative head of four universities in Houston, which has a combined students' strength of more than 56,000. University of Houston is a system of four universities, with three smaller universities and one large main university. Khator has been made the President of the main big campus. All the four presidents report to the Chancellor of the University of Houston system. Khator was selected as the Chancellor as well. In fact, she would be the eighth Chancellor and 13th President. ''It is a phenomenal university in this great city of Houston. I need to take it to next level of excellence,'' Khator told NDTV.com, hours after her selection. She would formally take office from the current incumbent Jay Gogue in January 2008. Khator, who besides her normal administrative and academics works teaches Hindi in the University of South Florida, attributed her success in the US academics to the Indian value system and the education she had back home. ''I think, I brought right values with me from India. More than Indian education, I think it is the Indian value system; it is ethics of hard work, ethics of working as a team living in expanded family in India teaches us the value of valuing everybody's opinion as you move forward. All this has played a very critical role in my administration and leadership success,'' said Khator. Making ''research and education with a global edge'' her top two priorities as the head of the University of Houston, Khator said: ''The University has a strategic plan and a vision. The vision is to become a national premier research university -- become a tier one university. This is what I have to do -- to look at more creativity and innovation and another is to make sure that the university can provide access to students and when they come to the university, they can be successful.'' ''In order to accomplish those, I have to look at the resources of the university, which means that I would have to do a lot of private fund raising,'' she added. Later in the evening Khator was given a grand welcome by the University. ''We have found an incredible person to lead this University and this system into 21st century,'' said Welcome W Wilson Sr, Chairman, University of Houston Board Of Regents in his address. Khator was appointed Provost and Senior Vice President at the University of South Florida 2003

Fashion Designer Tarun Tahiliani

2007-11-05T12:52:00.000+01:00

Tarun Tahiliani is a Bollywood celebrity costume designer, who has designed apparels for the Indian celebrity beauties like Simi Garewal and Ramola Bachchan. He has always been in limelight. For quite a long time, this Indian fashion designer Tarun Tahiliani had become the talk of town because of Jemima Khan's wedding wardrobe contract. He started off as a fashion retailer by establishing his own fashion boutique in Mumbai. Later on he made a step further starting his own brand label called ', Ahilian'

Extremely inspired by ethnic styles, fashion designer Tarun Tahiliani is of the opinion that Sari is the most elegant dress that has a great dazzling effect. He thinks it is the most apt apparel for sensuous look and brings out the beauty of India women in the most attractive manner. He experiments with colors and fabrics and comes up with his own unique classy designs. According to him Sari has the capability of arousing sensation.

He is simply fascinated by Chikan embroidery of Lucknow and is often incorporated in his designs. He also makes use of beads and semi precious stones to embellish the ensemble. He strongly believes that fashion is all about your comfort level with a particular attire. The highlights of his designs are: block printing, bandhini styles, beautiful color combination and rich silhouettes. He is unique in designing and this is what sets him apart in the list of fashion designers.

Fashion Designer Manish Malhotra

2007-11-05T12:37:00.000+01:00

Fashion designer Manish Malhotra, a passionate fashion savvy has made his special position in the Indian film Industry. He has beautified the Indian film star celebrities with his impeccable designer outfits. Indian designer Manish Malhotra entered into the Bollywood parlance by designing wardrobe for Juhi Chawla. In the list of top young celebrity fashion designers, he is the most shining star who has been successful in earning both name and fame

He knows his job pretty well and has a complete understanding as to what style would go perfect. He has designed costumes for almost all top actresses from sensuous Sridevi, Urmila Matondkar, Shilpa Shetty, and Manisha Koirala to elegant and graceful Aishwarya Rai, Rani Mukherjee and Preity Zinta. He is specialized in women attire styles. Manish has made an incredible contribution to various Blockbuster light comedy films like Rangeela to romantic movies like Dil To Pagal Hai, Kaho Na Pyar Hai and Dilwale Dulhaniya Le Jayenge.

He is truly a master of fashion and has achieved a tremendous appreciation. His work has been honored with various awards like Filmfare Award, Showtime Opinion Poll Award, Siemen's Viewer's Choice Award, Bollywood Award and the Lux-Zee Cine Award. He is continuously delivering quality work for fashion boutique 'Reverie' with which he is associated since 1998. This budding star of yesterday has truly become the pride of Bollywood.

Fashion Designer Hemant Trivedi

2007-11-05T12:19:00.000+01:00

In the list of top Indian fashion designer Hemant Trivedi is one who has made a special place for himself in the Indian fashion industry. He is one of the brightest and leading versatile designers. He pursued his graduation from the Australian Technical Institute of Fashion Design. Later on, he went to New York for further studies. It was in 1980 when he came down to India. This famous designer Hemant Trivedi from India has been serving the Mumbai's S.N.D.T University for quite a long time. In the present scenario, he is the pride of Sheetal, India's famous designer fashion store.

Fashion designer Hemant Trivedi's masterpiece creations have also made their way to beauty Pageants. He has made an incredible contribution in adorning the glamour of Indian beauty queens like Aishwarya Rai and Diana Hayden. His designer apparel designs are casting spell not just in India but driving people crazy in overseas too especially in U.K.and U.S.A. His aim has been to blast this fashion world with splendid designs, which are unique and classy.

His designs have not just given a boost to his career but have set the career path for the new upcoming models. He is a man of substance who is continuously delivering quality work to take Indian fashion industry to heights. He is acquired the commanding position of a trendsetter. This talented man has surely made us proud.

India Fashion House:Ritu Beri,Fashion designer ,with her simple aswell as intricate designs

2007-11-02T12:16:00.000+01:00

Countries like Italy and France have always been the countries that have produced fashion designers. When we think of fashion these are the two countries that comes to ones mind. India in the past 30years has not been left too far behind and have come a long way in the world fashion, and also other industries such as movies and IT.

Fashion diva Ritu Beri can't conceal a nostalgic smile as her memory jogs down those carefree days at St Anthony's School, Hauz Khas. The words of her standard XI biology teacher, Rita Aggarwal, still ring in her ears: "Ritu, you'll grow up to open a beauty salon."

Ritu finished her graduation from Delhi University in 1987. She was slowly driven into finding something that would keep her occupied. It was then that she started designing outfits for herself. Slowly she began designing outfits for friends and relatives thus bringing her into the business.

She further went on and enrolled herself at NIFT, affiliated to F.I.T, New York in 1988. Among the millions of applications that came she was among the 25 chosen students for the first batch.

Having spent two years at National Institute of Fashion Technology, and getting enough formal training that she wanted, it was here that she came out with her first graduation collection "Lavanya" in 1990. She was the first student to complete the fashion study course. This proved to be a huge success for Ritu both in her homeland as well as in the international market of fashion with her collecting being sold out very quickly. Success came instantly to her with this collection even in the fashion Meccas of London's Regent Street, where a number of her creations were sold.

After being recognized as huge name in the international fashion industry, Ritu came out with "Sanskriti" which was path-breaking way of tracing her roots, and she divided her collection into four sequences. This creation was more of a cultural offering, which saw a range of clothing that delighted the ethnic Indian population and this creation of hers made her a star in her own country.
According to Ritu Beri," Designing clothes for the Indian contingent is a great honour and a big challenge.

Ritu Beri also joined the Olympic fever, and created a special collection for the contingent to be worn at the opening ceremony. She launched " Caring means Sharing" for People for Animals - a project to fund animal care centers. She brought her unique line of collection, which compromised of T-shirts, caps, stuffed toys, posters, pens postcards, key chains, etc. The funds that were raised through these products were used for animal care center all over India.

As a fashion designer, Ritu Beri, has designed uniforms for many Indian companies such as Hyatt Recency Hotel in New Delhi, uniform for the Delhi Police Force, and also designed a couple of pieces for the Indian Cinema, humara apna Bollywood.

With fashion growing in India Ritu Beri, the designer is gaining recognition for her simple and other times intricate designs, a woman who has put India on the top in the world of fashion.

Ritu is a columnist for many leading journals. She is the force behind making India emerge as a power in the fashion industry. With her stunning good looks and innovative designs, she is likely to pave the way for many more Indian designers to come.

Ritu Beri is the first Indian to go international in the fashion world. She has great design talent and is a young woman designing for other young woman. A very confident, mature, likeable that's Ritu Beri for you.

Ritu Beri says-"Today, the world is still my oyster and I appear to have succeeded in prizing it open just a little bit."

GM India celebrates raising car sales

2007-10-23T13:28:00.000+02:00

GM India touched its highest sales statistics yet, in India. Since General Motors introduced its vehicles to India, this is the first time the firm has enjoyed a profit with such high margins. General Motors cruises ahead of its competitors with the extremely affordable Chevy spark and the value-for-money Aveo UV-A

GM has sold more than two times the units it sold last year in the same period. General Motors India for the first time beatFord Motors India in the market share.

With the festive season on in India, GM has cut down the price of spark by over rupees 50,000/-, which is also one of the reasons for the auto major to enjoy boosting sales. Because the offer is available only for a limited period, no wonder people are rushing to GM dealers spread all over the country.

If General Motors consider extending the offer for another few days there is no doubt that our pavements will be full of GM brands. India celebrates raising car salesGM

Porsche power soon to be in India

2007-10-23T13:25:00.000+02:00

Quick, what comes to mind when you think of Porsche? A clean cut designed sleek, fast, and incredible handling 2-door sport car with a genuine racing heritage. The ‘Made in Germany’ Porsche is soon to be launched in India.

Porsche has recently confirmed that it will assemble its top rated cars in india. Well, here are the Porsche models that will test Indian roads first: the GT and the Cayenne GTS. After the launch of the GT and Cayenne GTS, Porsche has chosen to assemble more vehicle range in India. The GT and Cayenne GTS are Porsche’s landmark models, known for a ride that quickens an enthusiast’s heartbeat.

It’ll be crazy if I’ll say getting a new Porsche is a financially savvy move. But relax. Porsche has quoted that Indian buyers can sign up with all these versions at a significantly cheaper prize. All we can do is hope that the price is the only thing that will be cheaper! After all, no want wants to drive a tin even if it does have a Porsche symbol at its front!

Expect first Indian Grand Prix in 2009

2007-10-23T13:20:00.000+02:00

Do I need to say more about the whole so-called Formula One, the global auto racing event? Maybe you’ve been following the trickle of information flowing out ever since the 1998 Indian Grand Prix attempt when the Indian government started its attempt to get a F1 racing event in India. Tata, Mahindra, Maruti, and many other Indian manufacturers are following this event closely.

Here's another effort to bring F1 to town. Even if the Indian roads are not that much advanced for a F1 race, we have a huge number of racing enthusiasts with Narain Karthikeyan on to race and Vijay Mallya to support. The Indian Olympics Authority is also on the ground to get the race to India by the October 2010 Commonwealth Games.

Critics say that the Grand Prix will meet serious infrastructural and environmental challenges in India, but there’s no denying that India is one of the fastest growing economy in Asia with a horde of Young Indians who have high incomes and F1 enthusiasm. Reports indicate that the Formula One architects have visited New Delhi and seen several sites in the National Capital Region and have handed India a race promotion contract and a circuit rights agreement contract. Let’s keep our fingers crossed and hope to see the first Indian Grand Prix in 2009.

Get ready for Escudo from Maruti Suzuki in India

2007-10-23T13:11:00.000+02:00

GWhile the new season of soft roaders is in full swing, Maruti quotes the launch of its new version SUV the Suzuki Escudo. Yeah, after Grand Vitara, Maruti is working on an urban cross-country vehicle. Well, that was a quick answer from Maruti to Honda's CRV and Hyundai's Tucson! Finally we are going to see some tough competition in the SUVmarket. Could the coming days be a Suzuki SUV upstart's year?

Okay, let’s check out the Suzuki Escudo. As the saying goes Escudo is expected to own a 2.0-litre petrol and a 2.7-litre diesel engine. The biggest news is that Suzuki Escudo will be a completely imported model. When it was showcased in the last Auto Expo, one look at the all-new Suzuki Escudo and it was clear that the Suzuki designers had started focusing their inspiration towards SUVs - the reasonably large and the more clean-cut lines of luxury. If you ask the Suzuki people they'll tell you that this is a second-generation of Suzuki soft-roaders. It is expected to have a prize tag of Rs 12-15 Lakhs ex-showroom in India.

Now Maruti suzuki competes in the ever more crowded SUV field and the Grand Vitara will soon have a sibling in India. It’s up to you keen Maruti Suzuki enthusiasts to cruise on over to the nearest Maruti dealers for more news on the Suzuki Escudo and don’t forget our portal – coz we provide car info before anyone else!et ready for Escudo from Maruti Suzuki in IndiaGet ready for Escudo from Maruti Suzuki in India

Hummer coming to India: Rumor or Truth?

2007-10-23T13:05:00.000+02:00

People often think they are safer in an SUV than a Sedan or a hatchback. If you ask me I'll say that the Hummer is the safest and coolest SUV around. Agree? Sunil Shetty’s choice and a definite yes from all Indians who want a muscular and aggressive car that laughs at looks and speaks with performance!

The Hummer is a South African SUV known for its ‘goes anywhere’ nature. It has a Vortec 3.7L engine that is astounding and makes off-roads simpler. Indian potholed roads will feel like butter on toast from inside this powerful animal.

Hummer is on its way to India. General Motors recently announced that the Hummer H3 will launch in India sometime next year. However, GM is a little worried about the market possibilities. The general feeling is that the super premium brand vehicle will represent a niche market in India, but the current Indian market psychology leans towards small cars like the Chevy spark.

I say - come on GM, take a chance! We may wait for a while to get behind the wheels of a Hummer, but if you wait too long there are companies that will take your slice of the proverbial Indian auto market pie and the Hummer will be left high and dry!

Stay tuned to see Caparo T1 on Indian Roads!

2007-10-23T12:59:00.000+02:00

Let’s hope for a new growth in Track car productions in India in the coming years. Caparo the company known for the T1 track car is developing a new small car for India. The UK based Caparo’s ‘city car’ would be licensed for production to other manufacturers in the local market in India. As global auto makers likeToyota, Honda, and General Motors have announced plans to launch a compact cars in India; we can hope that one of these MNCs will franchise Caparo's city car for production in the Indian local market.

Learning from manufacturers like Renault, Volkswagen, Volvo, and Fiat, Caparo too sees the value in an Indian foray with a partner to rationalize investments and get a head start for production, sales, & service. Caparo is in talks with multiple potential automakers for a possible alliance in India. The car that is under development in Caparo’s Chennai factory will find a new space in the heart of the hard core car racing enthusiasts.

This T1 racing car is a high performance two-seater designed with the style and function that resembles a Formula One race car. T1 offers a lightweight body and chassis made out of advanced composite materials. The T1 will be showcased in India in Auto Expo 2008. Let’s wait till the show to experience the craftsmanship of Caparo.

Mercedes Viano MPV to run on Indian Roads

2007-10-23T12:49:00.000+02:00

We’re already jealous that Europeans get all the good models of the Mercedes Benz before we do, but Mercedes will soon remedy this situation by launching the Viano for us. Yes, Mercedes has done it again and this is great news for those planning to pick up a high-end Luxury cab from Mercedes Hey the multi purpose luxury cab looks truly innovative, I must say!

Mercedes quoted Viano for Rs. 45 Lakh. If you are thinking about other luxury cabs available in India, I don’t think you are going to have a deja-vu in Viano. Inside Viano you can walk around and change the seating positions as per your convenience. Yeah, it might look like a crazy thing to say, but it’s true. The van has 8 seats with a sliding track mechanism that allows you to choose legroom space according to your need.

In India Viano has a cheaper competitor, the Toyota Innova that is available at a prize of below 10 Lakh. However, Mercedes is a class apart! So, all you Mercedes fans, you can stop reading right now and put the Viano in your 2008 wish list.