• HCL Call Centre in Ireland Brings Cheer
• India to be Mecca for Animation
• Indian Hotels Eyeing Properties in UK, US
• Dabur Sports New Log, to set up EoU
• India to Spend $17 Billion Upgrading Airports, Ports, Roads
• eChoupal to Expand to 15 States
• India's Riding the Manufacturing Wave

• Opportunities Aplenty in Fresh Fruit Exports
• Air Travel grew 26.5 Per Cent in India
• India Emerges Third Largest Producer of Food Items
• Infosys, Reliance, Tata, Wipro Among World's Most Respected Cos
• How Gold's Driving up Forex Reserves
• Sulabh Keen to Enter China
• ONGC 'Asia's Best Oil Firm'

Much concern is expressed in Britain about moving call centre jobs to India, but here in Northern Ireland the words 'Indian call centre' bring cheer -- thanks to Indian IT major HCL Technologies. There is much carping in British newspapers about the quality of service provided by Indian call centre staff, but experts in the field here are all praise for Indian entrepreneurship. Thanks to globalisation and Indian enterprise crossing international borders, Northern Ireland has emerged as the latest destination in the West for investment by Indian companies. HCL Technologies , an Indian software and information technology major, has set up a thriving call centre here that employs over 1,400 people, most of them locals. Just as Indian state governments produce glossy brochures highlighting the investment of major western companies in their states, local authorities here have produced slick promotional material to highlight HCL's decision to invest in Northern Ireland.

Courtesy: The Economic Times, November 29, 2004

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India's animation industry is set to emerge not only as the outsourcing destination for animators and gamers the world over but also as a major stand-alone sector on its own, says an expert in the field. "India has the manpower and the technology to achieve this," said Phil Mitchell, vice president of Canada's Mainframe Entertainment, a leading entertainment studios and maker of the hit Spiderman 3D television series. The company has produced similar films on the cartoon character Popeye the Sailor Man and Barbie. According to a recent study, the Indian animation industry is currently pegged at $550 million. The Nasscom (National Association of Software and Service Companies) study forecast that the global animation market would generate revenues worth $50-70 billion by 2005. Animation production in India is expected to go up from $0.6 billion in 2003 to $1.5 billion by 2005 - a phenomenal growth of 150 per cent. Another study by Anderson Consulting estimated India's animation industry to reach $15 billion by 2008. With such high potential forecast, JIMMC plans to provide trained professionals to this sunrise industry

Courtesy: The Times of India, November 29, 2004

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Backed by $150 million raised from foreign market, Indian Hotels will acquire properties in all the key gateway cities of the world besides investing Rs 150 crore every year to set up no-frills hotels. "We will have presence in all the key gateway cities of the world. We are also investing Rs 150 crore every year for setting up 15 "no-frills" hotels each year in the country under "IndoOne' brand. We will keep investing Rs 150 crore every year till 2014," Indian Hotels managing director Raymond Bickson told reporters here. A Tata Group firm, Indian Hotels, will acquire properties in places like London, Beijing, Shanghai and New York, Bickson said. The company, which runs a number of hotels under the famous Taj Brandname, will also strengthen presence in the Indian Ocean rim to capitalise on the "boom" in tourism, he said. Last year, the company raised $150 million in foreign commercial convertible bond to fund acquisitions worldwide and in India too.

Courtesy: The Pioneer, November 26, 2004

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Dabur India will set up an export-oriented unit (EoU) in 2006-07 and invest Rs. 230 crores next fiscal to strengthen overseas ventures as part of its strategy to become a Rs. 2,000 crore company in the next two years. The company would also ink a distribution joint venture in Russia and other Commonwealth of Independent States (CIS) countries to sell Ayurvedic products while a marketing joint venture in Pakistan would take shape next fiscal, its Chief Executive Officer, Sunil Duggal, told reporters today after unveiling a new logo of the company. The manufacturing joint venture in Pakistan would be set up next fiscal, Mr. Duggal said. The company will also enter the $8 billion nutritional supplements U.S. market in partnership with an American firm. "Ayurvedic products will be the fulcrum of our ventures abroad," he said. Production at the Nigerian venture has already begun and Dabur India is setting up the third plant in Dubai while the Nigerian plant will be expanded further.

Courtesy: The Hindu, November 25, 2004

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India's government plans to spend at least $17 billion to upgrade roads, airports and ports by 2010, in an effort to make it easier for Ford Motor Co. and other exporters to do business in Asia's fourth-biggest economy. About a quarter of the money will be spent on building and modernizing 34 airports, including New Delhi and Mumbai, the Civil Aviation minister Praful Patel said Nov. 17. The government will also build 10,000 kilometers (6,125 miles) of new roads, dredge the channel between Sri Lanka and India and expand capacity at ports to relieve congestion. More than 66 million vehicles were registered on India's roads in March last year, according to the Department of Road Transport and Highways. The country's road network, estimated at 2.52 million kilometers in April 2002, is the second-biggest after the U.S.

Courtesy: Bloomberg, November 25, 2004

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Fresh fruit exports from India, currently at an ebb, have a potential for growth if qualitative farm processes are put in place, according to Mr Kairas Vakharia, Chairman, CII - Agriculture and Rural Economy Sub Committee. Among fresh fruit, India's strength lies in grapes, pomegranates and mangoes. In 2003, the country exported fruits worth Rs 191 crore. According to Mr Vakharia, West Asia accounts for a major chunk of Indian fresh fruit exports; except in the case of grapes. Of the Rs 130 crore exported in 2003, the UK and Europe accounted for 80 per cent of exports, while of Rs 36 crore of pomegranates exports, 75 per cent went to West Asia and 11 per cent to Europe. The grape growing and exporting segment of the industry has become conscious of these qualitative changes primarily because it has been exporting to Europe. CII is organising a two-day conference, Ag-India 2004 to address issues specific to fresh produce and specifically fruits.

Courtesy: www.thehindubusinessline.com, November 25, 2004

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India's domestic air travel market expanded by 26.5 per cent in the fist half of this business year, data showed on Tuesday, as falling fares and a revival in tourist traffic boosted demand in Asia's fourth largest economy. Figures from the state-owned Airports Authority of India, which manages India's 126 airports, showed 18.52 million passengers filed through its terminals in April-September, compared with 14.63 million in the year-ago period. The figures include passengers embarking and disembarking at about 65 operating airfields in the country. Airports Authority said the total number of international passengers -- embarking, disembarking and in transit -- it handled rose 19.2 per cent in the first half of 2004/05 (April-March) to 8.97 million. An Airports Authority official said India's combined domestic and international traffic growth of 24 per cent was the fastest in the world according to data from Airports Council International. Global air travel grew 12.8 per cent in August-July, he said. Air travel in India, the world's 12th largest economy, rose 10.9 per cent in 2003/04 and 10.5 per cent in the preceding year aided by fare cuts by all airlines, but that growth followed a severe downturn three years ago. Though India is one of the world's fastest growing economies -- with GDP expected to grow by 6.0-6.5 per cent in 2004/05 -- the size of its air travel market is small as steep taxes on fuel and charges on the aviation industry inflate air fares. A surge in foreign tourist arrivals has also helped. Official figures show the number of foreign tourists arriving in India jumped 26.4 per cent in April-September to 1.38 million helped by an ongoing peace process with nuclear rival Pakistan. Domestic cargo shipments rose 12.6 per cent in 2003/04 and international air freight by 7.3 per cent.

Courtesy: www.financialexpress.com, November 24, 2004

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The rural networking IT initiative of tobacco major ITC is establishing a strong e-network through their eChoupal initiatives. A Chaupal is the village centre where people gather to meet, discuss and network. Enthused by the success in its eChoupal business, the International Business Division (IBD) of ITC is working in close association with about 80 Indian agri-input corporates from all sectors, to form a single marketing channel. The agri-input corporates have decided to provide their services/products through the eChoupals or web-enabled kiosks in the rural areas thus enabling the farmer to procure his needs all under one roof just by the click of a mouse. As part of its strategy, ITC has decided to bring a self-sufficient scheme right from providing foundation seeds to marketing. Speaking to FE, S Siva Kumar, chief executive, agri-businesses said: "Our plan is to expand to 15 states covering about 100,000 villages, e-empowering 10 million farmers from the current 21,000 villages in six states, empowering 2.4 million farmers. This translates to opening six eChoupals a day across the country." Apart from soya and wheat, eChoupals will also cater to mustard, bajra and pulses and later horticultural produce over a period of time, he said. This is part of ITC's strategy to help farmers get the required scientific knowledge on cultivation practices. It is also working out strategies for improvement in soya productivity in Madhya Pradesh.

Courtesy: www.financialexpress.com, November 24, 2004

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India has emerged as the third largest producer of food items with 150 million tonne of fruits and vegetables and large output in other sectors. Besides the largest livestock population of 483 million, India is also one of the largest producer of eggs at 43 million pieces per year, says an official release. In poultry and fisheries, India is ranked the seventh highest in the world, it said adding the processed food industry covers products of diary, meat, poultry, fishery, baker, non-molasses-based alcoholic drinks, aerated water and soft drink. The food processing industry also involves processing such as grading, sorting and packaging which enhance the shelf-life of food products. The industry provides vital linkages and synergies between industry and agriculture, it said. The food processing sector has a role to play in protecting the farmers against distress sale. Though the industry has been growing fast, its full potential is yet to be tapped, the release said.

Courtesy: Hindustan Times, November 23, 2004

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India's overseas investments, which crossed $10-bn this year, are still dominated by the manufacturing sector, though of late a good amount of investments have been in the IT sector. According to an analysis of trends in investments abroad by Export Import Bank of India, most outward investments go to the manufacturing sector, especially pharmaceuticals. While manufacturing accounted for 55% of the cumulative FDI of $10.8bn between 1996 and June '04, non-financial services particularly IT, accounted for 36%. But there is a distinct shift in the major destinations where the investments are flowing. While Singapore, Thailand, Sri Lanka and Malaysia took the lion's share of outward investments from India during 1975-1990, British Virgin Islands and Hong Kong were the top two destinations between 1996 and '00. Topping the big ticket investments is state-owned Oil and Natural Gas Commission (ONGC) which bought a 25% stake in a Sudan oil field from Talisman Energy (Canada) for $720m, a 20% stake in Sakhalin oil and gas field in the Russian Federation in '01 for $1.7 bn and also a 20% stake in a gas field in Myanmar. In '03, Jindal Polyester acquired Rexor (France) a polyester producer for 10m euros, Sundaram Fasteners bought Dana Spicer Europe(United Kingdom), a precision forgings business, for 1.5m pounds; Dabur India acquired Redrock (United Kingdom) a cosmetic firm for market reasons and Hindalco acquired two copper mines in Australia. Infosys announced a plan to create a new affiliate (Infosys Consulting) in the United States. Wipro, Birlasoft and HCL Technologies have operations in the United Kingdom and United States. For instance, Daksh eServices, India's largest BPO company has recently established a facility in the Philippines and MsourcE established a Spanish language centre in Tijuana, Mexico in '03; Datamatics Technologies had acquired CorPay Solutions (United States) for $9m in '03 and is planning to acquire more companies in the United States, Europe and Canada.

Courtesy: The Economic Times, November 23, 2004

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Gold prices closed at Rs 6,610 per gm on Friday, an all-time high. However, the market did not expect the yellow metal to move up further because of a fall in international prices, according to a bullion dealer. Gold prices have been on an up for the last one month. This has also helped push up the value of India's foreign exchange reserves. Gold prices overseas have been rising as a large amount of idle money flowed into the gold markets worldwide due to the weak dollar. The dollar's depreciation also resulted from inflation fears when the US released statistics late last Tuesday showing a jump of 1.7 per cent in wholesale prices in October compared with a tiny 0.1 per cent increase in September. Geopolitical tension such as violence in Iraq and rising crude oil prices, which have rekindled fears of inflation, also played an important role in pushing up gold prices. Last week, the yellow metal zoomed to a 16-year high of around $445 an ounce in international markets on the back of a weak dollar which raised the attraction of gold as a safe haven for investment.

Courtesy: The Economic Times, November 22, 2004

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Sulabh, which is spearheading a "toilet revolution" in India, is keen to "adopt" a few villages in China to showcase the indigenously-developed, cheaper and eco-friendly toilet technology in the world's most populous nation. "We are keen to adopt three to four villages in China where we can demonstrate the eco-friendly and cheaper toilet technology developed by us," Dr Bindeshwar Pathak, founder of Sulabh International Social Service Organisation told PTI here. Pathak, who visited China to attend the 'World Toilet Summit 2004' here, said that he would be talking with the Chinese authorities concerned about his plan since he felt that China could learn from India's experience. China, which is also facing similar problems like that of India, could adopt the eco-friendly twin-pit composting toilet with on-site human waste disposal system developed by Sulabh, a non-profit, voluntary social organisation, he said.

Courtesy: The Economic Times, November 22, 2004

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Infosys Technologies, Reliance Industries, the Tata Group and Wipro were the four Indian companies rated among the world's most respected companies, according to a survey. Mr N.R. Narayana Murthy, Mr Mukesh Ambani, Mr Ratan Tata and Mr Azim Premji were included in the list of the world's most respected business leaders, a global survey by Financial Times and PricewaterhouseCoopers said. The Financial Times/PricewaterhouseCoopers (PwC) survey, in its seventh year, is based on responses from more than 1,000 Chief Executive Officers across 25 countries. Infosys Technologies again featured among the world's most respected companies, having climbed in the `respect' ranking from last year. It was also recognised in a number of other categories including corporate governance, creation of shareholder value, corporate social responsibility and innovation. Reliance Industries became one of the top ten most respected energy and chemicals company in the world. The Tata Group, meanwhile, was recognised as one of the world's foremost company adhering to the values of corporate social responsibility. It also featured among companies recognised for corporate governance. Wipro entered the elite list, by way of being one of the world's best companies in terms of creation of shareholder value. General Electric retained the top slot in the global ranking for the seventh year running, while Microsoft was ranked second and Toyota third.

Courtesy: www.thehindubusinessline.com, November 20, 2004

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Gas exploration major Oil and Natural Gas Corporation (ONGC) has received 'Asia's Best Oil & Gas Company' award at the Seventh Annual Global Finance 'World's Best Companies' Award ceremony held in New York. The award was received by company director (exploration) Y B Sinha on November 16, an ONGC release said. The survey to find out the best oil and gas company was conducted by the US-based Global Finance magazine, which used several criteria to choose the winner including revenue and profit growth, market capitalisation and share price growth, corporate responsibility and product innovation among others.

Courtesy: The Times of India, November 19, 2004

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