(24 Nov) Mumbai : Food and Supplies minister Girish Bapat blamed the Principle Secretary of his department, Deepak Kapoor, for neglecting warnings by the Central government of possible rise in cost of pulses, which resulted in a major hike in prices. Bapat dashed a letter to Kapoor on November 17, and demanded explanation on the issue. Bapat also questioned Kapoor over the failure of controlling prices of tur dal, despite raids being conducted at several places.

Bapat also raised questions over the department’s action of not penalising traders who stored dal in their godowns. Bapat has sought a report from Kapoor within seven days on the future action plan to avoid such crisis. According to the letter, the Centre had warned the state in June about possible price rise of pulses, but till October-end, no action was taken. The Centre asked the state to implement storage limits before July 31. A reminder was sent on August 17. On October 9, the Centre wrote to Kapoor expressing concern over the price rise and reiterated to implement storage limit. This is not the first instance of disagreement between ministers and officers. It all surfaced some days ago, when Chief Minister Devendra Fadnavis himself accused the bureaucracy of not cooperating.

Following this, the chief secretary had to call a meeting of all senior bureaucrats to discuss the issue, said sources. Two months ago, state finance minister Sudhir Munguntiwar had an altercation with the finance secretary. Last week, in a meeting to discuss water planning of Godavari river, Fadnavis had to warn secretaries of finance, planning and water resources to improve their performance. Last month, power minister Chandrashekhar Bawankule faced an embarrassing situation when he had to announce that the decision taken by his department of waiving off the electricity bill of a steel company in Raigad was taken by mistake.

NEW DELHI: UCWeb, the provider of India’s No.1 mobile browser with over 54 percent market share, released a finding that e-commerce traffic in Diwali shopping season surged 75.5 percent this year. “The numbers of users who visit Flipkart, Amazon and Snapdeal via UC Browser in the month leading up to Diwali 2015 increased over 75 percent compared with last year”, said Kenny Ye, Managing Director of UCWeb India. “Indians are increasingly embracing shopping on the go, splashing out on various items through mobile shopping during festive sales. There is no doubt that m-commerce is prospering.” The traffic upsurge echoes the public perception of Diwali in the age of e-commerce. As e-tailer giants rolled out sales promotions to usher in the festive season that are seen as auspicious time to purchase big-ticket items by Indians, UC Browser and Amazon India also joined hands distributing coupons and vouchers to users through a #HarGharUCDiwali campaign launched exclusively on UC Browser. The two-week long shopping carnival eventually saw over 17 million users coming on board trying their luck for coupons and vouchers in addition to making wishes that stand a chance to get actualized by Indian cricket star Yuvraj Singh. A big portion of users eventually placed orders on Amazon via UC Browser through the campaign. Popular items including lifestyle products such as electronics, ethnic and fashion apparel as well as household products that received most visits contributed to the vast majority of total page views.

Over 50 percent of India’s internet population are mobile-only users, online marketplaces are already witnessing a continuing influx of transactions made on mobile devices, a sign accentuating the mobile e-commerce build-up that is expected to account for the most of the future online market growth thanks to the increasing spending power, payment options and smartphone penetration. According to the latest report by IAMAI and IMRB, mobile Internet users in India is about 306 million, up from 276 million in October this year, the catalyst for the uptake of m-commerce services. Besides, the number of mobile users who shop via their mobile phones or smartphones has seen a steady rise, with 75 percent increase in e-commerce traffic throughout Diwali shopping season. According to Amazon India, “This festive season was the biggest-ever festive season for the company, in terms of traffic, unit sales, revenue and new customers.” Traffic from mobile in particular, accounted for 70 percent of the total traffic to its site.

Altogether, the m-commerce market is upbeat and booming for the coming future. That’s why big e-tailers such as Amazon, Flipkart, and Snapdeal are striving to offer convenient user experience with mobile responsive design as well as going heavy on promotions and discounts. “We are happy to embrace the thriving mobile e-commerce. As an important mobile gateway for users to a convenient life powered by the internet, UC Browser will be unwaveringly committed to the local communities, and continue to enhance its strategic partnerships as well as explore more cooperation opportunities with local e-tailers,” said Kenny Ye.

(19 Nov) The decision, hailed by industry body ISMA, will cost Rs 1,147 cr to the exchequer New Delhi : In the first ever direct subsidy payment to farmers, the government decided to pay sugarcane growers Rs 4.50 per 100 kg for the cane they will sell to loss-making millers, a move that will cost Rs 1,147 crore to the exchequer, reports PTI. The government said the subsidy would be given to farmers attached to only those mills that achieve at least 80% of the mandatory export and ethanol blending targets.

The Cabinet headed by Prime Minister Narendra Modi decided to give a production-linked subsidy directly to cane growers, as export subsidy, which was provided in the last two sugar seasons 2013-14 and 2014-15 to millers, was questioned by many countries at the WTO. The decision was hailed by the industry body ISMA, which said that millers’ cane price liability would reduce by about Rs 1,100 crore, thus partly compensating their losses. Sugar mills are facing a liquidity crunch due to surplus output that lead to low retail prices of the sweetener. “To further ensure timely payment of cane dues in the current sugar season, the government has decided to provide a production subsidy at the rate of Rs 4.50 per quintal of cane crushed to offset cane cost,” an official release said.

The subsidy would be paid directly to farmers on behalf of millers and adjusted against the cane price payable to farmers towards FRP, including arrears of previous years. The remaining balance, if any, would be credited into the millers’ account, it said, adding that priority will be given to settling cane dues arrears of the previous years. In Delhi, wholesale sugar prices increased by Rs 30 per 100 kg, while in Mumbai, they rose by Rs 36. Traders said the government’s decision on direct sugar subsidy to cane farmers could buoy sugar prices over the next few days, but the rally may not sustain, as more mills start crushing operations. The Centre has fixed Fair and Remunerative Price (FRP) at Rs 230 per quintal for the 2015-16 season (October-September). With the subsidy being borne by the government, mills will now have to pay only Rs 225.5 a quintal to farmers. India, the world’s second largest sugar producer, is all set to produce surplus sweetener for the sixth straight year at 26-27 million tonnes in 2015-16. To liquidate surplus stocks, the government has made it mandatory to millers to export 4 million tonnes in the current season.

Congress on Wednesday sought to take the sheen out of Prime Minister Narendra Modi’s frequent foreign tours, alleging India’s exports have dropped by a whooping 45% despite him completing 30 foreign visits during his 18-month tenure.

The party also took a jibe at the Prime Minister over the issue of price rise and said his government has “in one stroke taken away carbohydrate, protein, vitamin and fat from the plates of the common man”. “After 30 foreign visits and another four lined-up, all that Modi has achieved for the nation during his 18 months tenure is a whopping drop of 44.89% in Indian exports, from 280 billion dollars in May 2014 to 154 billion dollars today,” Congress spokesman Abhishek Singhvi told reporters.

He said that despite “all the hoopla” created by the Modi government around ‘Make In India’ initiative, Indian exports have contracted for 11 straight months now and plummeted by 17.6% to just 154.29 billion dollars in October. He said under the Congress-led UPA government, India’s exports crossed the targeted 300 billion dollars and stood at 315 billion dollars in March 2013.

“What is particularly worrying is the persistent weakness across other major segments. Gems and jewellery, which account for roughly 13% of the export basket, fell by 12.8% and chemicals and related products which account for 10% of the basket fell by 8.2% while engineering goods with a share of 22.4% have contracted 11.6%,” Singhvi said.

This continuing weakness reinforces concerns about India’s ability to replace China as the manufacturing hub of the world and it also raises serious doubts about meeting the $300 billion export mark, he said. Posing a number of questions to the Prime Minister, Singhvi asked as to why is the economy in such a “pitiable” state. “Apart from the sloganeering that the Prime Minister is indulging in the NRI circuit, what tangible steps has the government taken to push exports,” he asked.

The Congress spokesman also asked the Prime Minister what exactly “have you been doing on your frequent foreign tours?” “What reason does the Prime Minister have about the contracting exports of iron ore, rice, oil seeds and jewellery for which India is famous for,” Singhvi asked.

18 Nov) Beijing: Chinese stocks opened higher on Wednesday with the benchmark Shanghai Composite Index up 0.01 percent to open at 3,605.06 points. The smaller Shenzhen index opened 0.04 percent higher at 12,516.14 points, Xinhua reported. The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, gained 0.39 percent to open at 2,727.61 points.

(14 Nov) A day after deals worth £9 billion were announced between the two countries, Prime Minister Narendra Modi on Friday said that investment by British companies in India would be a “win-win partnership” for both countries as he talked of investment opportunities in infrastructure and renewable energy sectors. “We are confidently, consistently and ceaselessly working to integrate our economy with the world,” he told the India-UK CEOs forum. In his opening remarks, British Prime Minister David Cameron referred to Modi’s vision and intent for transforming India. Modi said economic ties are extremely important elements of the relationship between countries. He referred to his government’s initiatives such as ‘Make in India’, emphasis on infrastructure, opening up of FDI in various sectors, and commitments towards 50 million new houses by 2022 and 175 giga watts of renewable energy. The visiting Prime Minister said: “Investment by British companies in India would be a win-win partnership for both countries,” an official statement said. CEOs from both sides made brief observations.

“It was observed that the current time represents a ‘tidal wave of opportunity’ in India for investors,” the release added. Speaking of the historical ties and complementaries between the two countries, Modi said India-UK are economically made for each other and this relationship has to be driven by private sector CEOs. Modi added that the government wants to develop Indian railway stations through public-private partnership. He also said that the defence manufacturing is the backbone of ‘Make in India’ campaign.

The forum was co-chaired by Tata Group chairman Cyrus Mistry on the Indian side and Standard Life chairman Gerry Grimstone on the UK side. The forum was attended by the likes of Bharti Enterprises chairman Sunil Bharti Mittal, Tata Consultancy Services CEO & MD N Chandrasekaran and Bharat Forge chairman Baba Kalyani, PTI reported. The UK team included leading British company representatives like Vodafone chief executive Vitorio Calao, BAE CEO Ian King and Rolls-Royce CEO Warren East.
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New Delhi, Nov 9 (IANS) Nestle India on Monday said it has begun the roll-out of Maggi noodles and that the priority would now be to reach the popular snack to the consumers at the earliest. “The return of Maggi Noodles on the auspicious eve of Deepawali and on the day of Dhanteras is a moment of celebration for all of us,” Nestle India chairman and managing director Suresh Nayaranan said in a statement, announcing the re-launch after it was banned on June 5. “Maggi noodles has very special relationships and strong emotional bonds with its consumers across the country and I am confident that our bonds will grow even stronger,” Nayaranan said, adding the company has also entered into a pact with Snapdeal for online sales. On June 5, the Food Safety and Standards Authority of India (FSSAI) had ordered a pan-India ban on the company’s noodles on the ground that these were “unsafe and hazardous” for human consumption due to presence of lead, allegedly beyond permissible limits.

After a five-month legal battle, Nestle said last Wednesday that the “masala” version of Maggi noodles will hit the retail shelves as early as this month having cleared all tests ordered by the Bombay High Court at three accredited laboratories.

Chennai/New Delhi: Indian automobile giant Tata Motors Ltd on Monday announced it has signed-up Argentine footballer Lionel Messi as its global brand ambassador for its passenger vehicles. In a statement, Tata Motors said it has signed-up Messi in a long-term association as its global brand ambassador to promote and endorse its passenger vehicles globally.

This is the first time ever that the passenger vehicle business will be undertaking an overall brand association campaign with a brand ambassador, it said. To start with, Tata Motors will first roll-out the association campaign, #madeofgreat, starring Messi. “As we look to expand our footprint across the globe, Messi’s unique ability to appeal globally, transcending geographies, makes him ideal person to represent our brand, internationally,” said passenger vehicle business unit president Mayank Pareek. Messi said: “Namaste India. I am very excited about my first association with an Indian thrilled to be a part of the Tata Motors family.

“I have always been fascinated by India and have heard such great things about this diverse country. I was once in India with Argentina National Team – and I hope to visit it again.” Messi also noted Tata Motors “is a true representation of India and a well-established brand, globally”. “It is important to believe in yourself and keep pushing to achieve success and that is what the first campaign stands for. I hope together we are able to inspire many more,” he said.

The first plane produced by a Chinese government initiative to compete in the market for large passenger jetliners has been unveiled in Shanghai.

The Commercial Aircraft Corporation of China (COMAC) showed off its twin-engine C919 in a ceremony on Monday attended by some 4,000 government officials and other guests at a hangar near the Pudong International Airport.

China’s aviation market is growing fast but relies on Boeing and Airbus aircraft.

The ruling Communist Party wants to claw back some of the commercial benefits that flow to foreign suppliers.

Dependence on Boeing and Airbus

For China, the plane represents at least seven years of efforts in a state-mandated drive to reduce dependence on European consortium Airbus and Boeing of the United States, and even compete against them.

“China’s air transport industry cannot completely rely on imports. A great nation must have its own large commercial aircraft,” the country’s civil aviation chief Li Jiaxiang told an audience of government and industry officials.

A small truck towed the 39-metre long plane – painted white with a green tail – out of a cavernous building decorated with an enormous Chinese flag into the sunlight as project workers marched alongside, an AFP news agency journalist saw.

“The roll out of the first C919 aircraft marks a significant milestone in the development of China’s first indigenous aircraft,” COMAC chairman Jin Zhuanglong told the ceremony.

The aircraft, which has a range of up to 5,555 kilometres, will make its first test flight in 2016, he said – meaning that it will miss the original deadline of this year.

The China Daily newspaper has reported the maiden voyage could even be put back to 2017.

China has dreamed of building its own civil aircraft since the 1970s when Jiang Qing, leader Mao Zedong’s wife and a member of the notorious “Gang of Four”, personally backed an attempt to do so. But the Y-10’s heavy weight made it impractical and only three were ever made.

Although the C919 is made in China, foreign firms are playing key roles by supplying systems as well as the engines, which are made by CFM International, a joint venture between General Electric (GE) of the US and France’s Safran.

More than 500 orders

Spending on the C919 has not been revealed. Last month, the Export-Import Bank of China said it would provide state-owned COMAC with $7.9bn in finance for its aircraft projects.

The company already has orders for 517 of its C919 planes, according to a COMAC statement, almost all of them from domestic buyers. Among foreign customers, Thailand’s City Airways has ordered 10, according to an announcement last month.

But it will take years for the C919 to be delivered to customers, with the plane expected to enter service in 2019 at the earliest, industry officials said.

“There’s a lot of work to do still,” said Briand Greer, president for Asia-Pacific of Honeywell Aerospace, which is supplying four key systems for the C919: flight control, wheels and brakes, auxiliary power units and navigation.

“A lot of testing, a lot of flight testing, systems integration testing and of course all the certification,” he told AFP.

COMAC has already developed a smaller regional jet, the ARJ, in a project which is years behind schedule.

Test flights

The 78-90 seat ARJ is still undergoing test flights and lacks the crucial certification by the US Federal Aviation Administration that would enable it to fly in US skies.

The Chinese company also plans a wide body plane, the C929, in cooperation with Russia’s United Aircraft Corp., and speculation is mounting China will create a new aero-engine entity to try to produce the powerful jets needed for large civil aircraft.

China is expected to add 6,330 new aircraft worth $950bn to its commercial fleet by 2034, Boeing stimates.

The single-aisle C919 targets the lucrative segment dominated by Boeing’s 737 and the Airbus A320.

“Research and manufacturing of a big plane is complex,” said China’s Vice Premier Ma Kai, the highest government leader attending the ceremony. “There is still a long way to go to commercial operation.”