Aimed at attracting substantial investments into the State, APInvest, the proactive nodal agency of the State Government under the Chairmanship of the Chief Minister, Dr Y.S. Rajasekhara Reddy, is organising a breakfast meet with leading domestic industrialists and global investors on July 13 at Taj Palace of New Delhi.
Government is now aiming for a giant leap forward in industrial sector.
Pinning hopes on the new Industrial Investment Promotion Policy, the State authorities are expecting to attract Rs 15,000 crore in fresh investments into the State. The breakfast meet is being organised in collaboration with the Software Technology Parks of India (STPI).
The authorities are buoyed by the recent visit of Dr Reddy to Bangalore, wherein he had a high-profile interface with leaders of around 120 industrial majors and invited them to invest in the State. Responding to this, major software giants such as Wipro and Infosys decided to significantly expand their facilities in the State.
Quoting Dr Reddy, a State press release said the Government is now aiming for a giant leap forward in industrial sector. The Government proposes to extend tailor-made benefits to suit particular investment requirements on case-to-case basis for projects having investments of over Rs 100 crore. Efforts are also on to boost exports from the current level of 4.39 per cent to 10 per cent, the release said.
The breakfast meet is expected to provide a platform to the investors to interact with the State Government officials, share their views and concerns and also enter into a dialogue. The active partners at the meet include Nasscom, CII, Assocham, Amcham, ISA, ESC, TIE and MAIT.
The key objective of the meet is to invite investors to AP to explore and take advantage of investment opportunities in various sectors such as semi conductor manufacturing, IT, ITES, biotechnology, pharmaceuticals, food processing, tourism, handlooms, textiles and other sectors.
The Institute of Chartered Accountants of India (ICAI) has succeeded in placing 1,144 candidates from its campus interview this year.
Progeon, Genpact, ICICI Lombard, TCS, Reliance were major recruiters
Business process outsourcing (BPO) companies got the major chunk of the pie with 334 candidates, followed by information technology companies that bagged 125 students.
Maximum offer to 344 candidates were in the salary range of Rs 2.50 lakh per annum(pa) to Rs 4.99 lakh pa, though 20 candidates received offer of more than Rs 9 lakh pa pay package.
Meanwhile, another six candidates got offers in the salary range of Rs 7.5 lakh pa and Rs 8.99 lakh pa and 147 candidates in Rs 5 lakh pa and Rs 7.49 lakh pa range.
Among major recruiters were Progeon Ltd and Genpact(formerly Gecis) respectively bagging 163 and 160 candidates.
Amongst other major recruiters were Tata Sons, Reliance Industries Ltd, ICICI Lombard and Tata Consultancy Services (TCS). In total, there were 102 companies that participated in this year's campus recruitment.
In 2005, out of the 7455 newly qualified chartered accountants, 83 per cent opted for employment and 17 per cent obtained certificate of practice (CoP).
ICAI has taken initiative to establish centres of excellence in Hyderabad, Mumbai, Delhi, Kolkata and Chennai. Land has already been acquired in Hyderabad and Delhi. The purpose of the centre is to undertake research activities, providing training and workshop programmes for members in emerging and to give impetus to academic activities.
Lakshmi Mittal, the world's fifth richest man, gave a 5bn pounds vote of confidence in the country of his birth yesterday by announcing plans to build his first steel plant in India.
The Indian government has also signed up its favourite billionaire son to secure energy supplies for the country.
Mr Mittal, who was born in India but left the country to create the largest steel company the world has ever seen, said he wanted to "partner the growth of India". The steel magnate, who retains his Indian passport, moved to London in 1995 partly to keep track of his far-flung empire.
Last week the 56-year-old's audacious € 29bn takeover bid for Arcelor, the world's second biggest steelmaker, succeeded despite hostility from the governments of France and Luxembourg, where many of its plants were based. India's trade minister described the opposition as thinly veiled "racism".
Mr Mittal now controls 120m tonnes of steel production - a tenth of the global supply and four times his nearest rival. "I am very grateful for all the support that friends, family and the Indian government gave to me," he said.
Mr Mittal made it clear the strategy of the new company, Arcelor Mittal, would look to India and China for growth. Mittal Steel is in talks to buy 49% of one Chinese company and has spent £ 180m on another. But his Indian operation will dwarf these Chinese investments. The plants were slated for mineral-rich plains in eastern India's Jharkhand state but he has switched attention to neighbouring Orissa on the country's coast. The plant will produce 12m tonnes of steel a year. "We are re-evaluating our position. The progress [in Jharkhand] is not as satisfactory as we would like it to be," Mr Mittal said.
The Indian government has also signed up its favourite billionaire son to secure energy supplies for the country, convinced his deal-making skills and international contacts will help buy assets abroad. The joint venture OMEL, which began last year, is half-owned by Mittal Steel and India's state-run Oil and Natural Gas Corporation, and has recently won two lucrative oil fields, with reserves of 1bn barrels of recoverable reserves, in Nigeria. "[OMEL], I think, is a good example of how [state-run Indian firms] can go global," Mr Mittal said.
While modest in person, the billionaire does not hide his personal fortune of £ 15bn. He is buying a 94-metre yacht for € 160m. It comes with its own helicopter, which can be lowered below the main deck.
The first company-owned outlet in South India will open shop at Prasad's Multiplex complex on 7th of july 2006.
By December 2006, the company is planning to have 110 restaurants in India, including three more outlets proposed in Hyderabad.
The world's leading food service retailer McDonald's would be adding one more outlet to its network of 91 restaurants across the country with the opening of its first restaurant in Andhra Pradesh.
By December 2006, the company is planning to have 110 restaurants in India, including three more outlets proposed in Hyderabad. At present, McDonald's is serving over 65 million customers in India, accounting for the consumption of an equal number of pieces of buns per annum. Worldwide, McDonald's serves 47 million customers each day through its 30,000 restaurants spread over 119 countries.
McDonald's India is a joint venture company managed by Indians. Its restaurants are owned and managed by Amit Jatia's Hardcastle Restaurants Private Limited (HRPL) in western India and by Vikram Bakshi's Connaught Plaza Restaurants Private Limited in northern India.
The company has a 50% stake in each of the joint venture outfit. So far, the company had invested Rs 3 billion in the supply chain.
While the connoisseurs of non-vegetarian would not find it a problem at all, veggies can breathe easy. McDonald's uses separate utensils, separate oils and even separate cooks for non-vegetarian and vegetarian stuff. In effect, there are two kitchens. Go ahead. Check it out, folks for some lip-smacking delights!
An increasing number of Indian companies are recognising the benefits of investing in the U.K. as evident from the U.K. Inward Investment 2005-06 report that points to a 110 per cent increase in Indian investment there over the previous year.
South India's contribution was significant with 22 of the 76 projects, an investment of $263 million, promoted by companies from the region
It places India third, in terms of investment decisions, behind the U.S. and Japan. The jump from the eighth to the third spot translated into around $2 billion investment by Indian firms on 76 projects that included new, expansion and mergers and acquisitions. The projects generated nearly 1,450 jobs.
The British Deputy High Commissioner for South India, Mike Connor, attributes the surge in investments to the "open and welcoming economy ... real commitment of the U.K. to deregulate and create an even better entrepreneurial environment."
Stating that the U.K. has had another record year - in 2005-06 some 1,220 foreign companies chose to invest in the country. South India's contribution was significant with 22 of the 76 projects, an investment of $263 million, promoted by companies from the region, including Chennai's Shasun Chemicals and El Forge and Hyderabad's Satyam Computer Services, Aurobindo Pharma, Clintox Bioservices and Northgate Technologies.
The western region, however, accounted for 39 projects. On the sector-wise profile of Indian investments, Mr. Connor says ICT (information, communication and technology) firms dominated with 26 projects followed by 12 pharmaceutical and healthcare projects, eight in financial services and six in automotive and engineering.
Indian investors are taking advantage of the British expertise in high-value activities such as research and development, science, cutting-edge technology and innovative design. "The U.K. has one of the most efficient returns on R & D investment," he declares.
Moreover, the U.K. served as a gateway to the European market of 500 million consumers. Home to most venture capital liquidity and across Europe, its capital London provides the greater access to funding, he points out.
Noting that investment is a two-way street, Mr. Connor says while British companies increasingly look at investment opportunities in India, there is a need for India to further liberalise its policies by way of an increase in foreign direct investment in the insurance sector, further opening of the legal, financial and services sectors and removing constraints on the growth of foreign banks.
On the initiatives of the Deputy High Commission to promote trade and investment between the two countries, Mr. Connor says additional manpower are being added to work on the inward investment work.
Toronto police arrested a second man in the investigation of stolen jewel-encrusted slippers of a Hyderabadi Prince from the Bata Shoe Museum in January.
Sonja Bata - wife of Czech-born shoe magnate Thomas Bata - offered a $25,000 reward for the slippers return.
Police say Mico Petric, 33, was arrested Tuesday morning and is now facing theft charges. His arrest is in addition to Filip Djukic, 35, who was arrested and charged for theft of the rare slippers in March.
The arrest is the latest chapter in a bizarre story that started when the slippers, once worn by the prince Nizam Sikandar Jah of Hyderabad in the 1790s, disappeared from their display case at the Bata Shoe Museum.
Also taken in the alleged heist was a gold anklet and toe ring with a combined value of $56,000.Studded with diamonds, rubies and emeralds, and embroidered with gold, the ceremonial slippers are valued at $160,000.
Their loss sparked a police investigation and pleas for help from the Bata family and the museum that bears their name.Several days after the slippers disappeared, Sonja Bata - wife of Czech-born shoe magnate Thomas Bata - offered a $25,000 reward for the slippers return.
Police reviewed museum security camera video tapes and tried to discover who would want the museum pieces. Adding to the intrigue, investigators released photos of people who appeared to be at a party, saying police wanted to speak with people in the pictures.
But another photograph led to a break in the case.
On Feb. 7, a customer walked into the Korner Colour photo lab wearing sunglasses and a black toque. He wanted five eight-by-ten-inch prints of images he downloaded onto the shop's digital editing machine.
The shop's owner recognized the slippers, anklet and toe ring in the digital images and secretly snapped a picture of the customer.
Djukic later surrendered to police, but it took an anonymous phone call to the museum 12 hours later saying the missing items were in a bag across the street before they were recovered.
Police have given no details on how the investigation led to Tuesday's second arrest.
Reliance Industries' organised retail foray - under Reliance Retail, a wholly owned subsidiary - will kick off with a food and beverage store in Hyderabad on August 1 this year, followed by a store every week in Andhra Pradesh.
The venture would encompass an appropriate mix of formats, from neighbourhood convenience stores and supermarkets to speciality stores and hypermarkets.
Sources said there would be three types of stores in all. The first, food and beverage stores, would be spread over 2,000 sq ft, and sell packaged foods, beverages, fruit, and vegetables.
The second type would also sell food and beverages, along with staple like rice, lentils and sugar. Their size would vary from 2,000 to 4,000 sq ft. The third type would be hypermarkets, occupying 4,000 sq ft and more. These would sell everything, from food and consumer durables to apparel.
To begin with, Reliance would remain in an investment mode and own all its outlets. With time, however, it might consider having franchisees. A Reliance spokesperson confirmed that the roll-out would take place in Andhra Pradesh, but refused to disclose details. He also declined to reveal the future plan.
While Reliance did not say why it was beginning its retail foray in Andhra Pradesh, industry experts said this was on account of the state being among the top three in the country in terms of retail off-take.
Reliance Industries Chairman Mukesh Ambani had last week said that Reliance Retail would invest Rs 25,000 crore over time, of which Rs 10,000 crore would come as equity. The venture would encompass an appropriate mix of formats, from neighbourhood convenience stores and supermarkets to speciality stores and hypermarkets.
Ambani also said that Reliance Retail would be targeting a pan-India presence, covering 1,500 cities and towns. Reliance Retail will be looking at raising money through an initial public offering after a few years. A source close to the company said it would opt for the float once Reliance Retail reached the "critical size."
Reliance is also in talks with restaurant chains that may open outlets within these stores, catering to specific tastes in different regions. However, the company declined to reveal the names of chains it was in talks with.
Similar to Silicon Valley's boom in the late 1990s, the Indian tech world is in full frenzy. Ram Shriram, the founding investor in Google, started frequent travel to India last year to look for opportunties.
Venture capital firms and private investors last year poured $2.2 billion into 146 start-ups in India -- compared with $1.7 billion invested in 71 deals in 2004, reports USA Today
He initially seemed close to Silicon Valley firm Sequoia Capital. They co-invested in online contacts company here in Silicon Valley, Plaxo, and ventured into to India three years ago to back 24/7 Customer. But lately, Shriram has cozied up with Sequoia rival Kleiner Perkins.
He offered "a couple" of VC firms the opportunity to join him, he said. Kleiner took him up on it, and they've since co-invested in a couple of companies, including India online job site, Naukri, which has already filed for an initial public offering.
Sequoia, meanwhile, recently "merged" with an Indian firm, Westbridge, as a way of making investments in India. Through Westbridge, it has invested in travel site competitor Travelguru. Shriram, though, has beefed up his own efforts: About a year ago, he hired Sandeep Murthy as a partner at his firm, Sherpalo, to focus on Indian investments. He also brought on Murthy to become chief executive of Cleartrip, an online travel company that Sherpalo and Kleiner Perkins invested in early this year. Murthy is also evaluating deals for Kleiner in India.
Meanwhile, an increasingly prosperous Indian middle class is starting to travel more, and so online travel sites there are booming: Gabriel Venture Partners has led a $6 million round into MakeMyTrip. Norwest Venture Partners, yet another Silicon Valley firm, has backed Yatra. Cleartrip will launch July 4 2006.
Things are looking bubbly. Several other Silicon Valley venture firms have made moves to invest in India, and Shriram says such announcements "certainly appear to be the leading indicator of a bubble in equity values." We at SiliconBeat have noticed that the venture data and reporting about the India market is pretty unreliable -- or at least difficult to figure out. Venture capital firms and private investors last year poured $2.2 billion into 146 start-ups in India -- compared with $1.7 billion invested in 71 deals in 2004, reports USA Today, citing data from TSJ Media's Venture Intelligence India Roundup, and we're assuming this includes U.S. venture investments into the country too.
But how can that be? In China, a much larger market, we learn from industry research firm VentureOne that venture investments rose to $1.5 billion in 2005, up from $1 billion the year before, according to preliminary data from industry tracker VentureOne. VCs made 158 investments in China, up from 123 in 2004, the report said. Perhaps the problem is that some local Chinese investments aren't getting picked up by the trackers.
During Shriram's tenure at Amazon.com he grew the customer count from 3 million to 11 million users.
You'll also see reports that the Indian state of Haryana is developing a research and education "Nano City," modeled after Silicon Valley, to the tune of $2 billion, only to see some reports inflate this to an unqualified "$10 billion".
So how to do you build smart companies amid the hype? We asked Ram Shriram whether Murthy is taking on too much, i.e., running a start-up and screening deals for two venture firms? Ram said he doesn't see this as a stretch, saying that Murthy isn't being asked to actually do the deals per se. On the contrary, Ram said, the point is to find solid teams that buckle down for several years to build great companies. So Ram is looking for the right market opportunities, and then working with Murthy to screen the teams. "Most VCs in India are investment banker types, not technologists or operating execs," Ram says, saying that Murthy's experience in building Cleartrip will also be helpful in nurturing other teams.
Ram Shriram A Brief Bio
Ram Shriram was vice president of business development at Amazon.com, reporting to Jeff Bezos, founder and CEO. During Shriram's tenure at Amazon.com he grew the customer count from 3 million to 11 million users. Prior to Amazon.com, Shriram was president of Junglee Corp., a company that Amazon acquired in 1998. Before joining Junglee, Shriram was an early member of the Netscape Communications executive team. He initiated and built relationships with a targeted set of partners worldwide, helping Netscape to build market share and revenue momentum. In 1996, Shriram crafted Netscape's indirect channels of distribution worldwide, and managed several hundred people with 16 direct reports across three continents (North America, Europe, and Asia ), producing well over half of Netscape's $346 million annual revenue. A year later, Shriram oversaw the OEM and website sales functions at Netscape, and helped generate more than $100 million in revenue from Netscape's high-traffic website alone.
Shriram also serves on the board of Yodlee.com and Elance.com, and is a leading angel investor in Silicon Valley.
Will Hyderabad be home to the country's first Fab plant? This is still a big question, even one year after the foundation stone for the first Fab was laid at the Rajiv Gandhi Nano-Technology Park.
Surprisingly, though the MoU was for 1,200 acre, it was allotted only 300 acre.
Though Andhra Pradesh government officials say they have done everything possible to make it happen, the hitch is from the Union communications and IT ministry, since it has been delaying the announcement of a 'semiconductor policy'. "We are pursuing with the Union government for a policy, as prospective investors are waiting for it," a senior officer involved in the process told.
The latest promoter, Kolkata-based Xenitis Group is the third in line, with a proposed investment of between Rs 1,200-1,500 crore. "Since we were told by the Union IT officials that the Union government will invest up to 30% in the form of equity (though verbally), we feel it is worth waiting for the policy," Amber Mukerji, president & CFO, Xenitis said. He said the government was expected to announce the policy in the next one-two months.
P June Min, the promoter of Nano-Tech Silicon India Private Ltd, which laid the foundation stone for the first Fab in June 26, 2005, is yet to achieve financial closure. The project was targeted to be completed by end of 2006 and the government had already allotted 50 acres. Similarly, AP had also signed a memorandum of understanding (MoU) with SemIndia to set up a Fab facility. Surprisingly, though the MoU was for 1,200 acre, it was allotted only 300 acre.
Blame it on the poor quality of work carried in laying roads or the endless tussle between contractors and the Municipal Authorities over cement prices, road conditions in the city are not only making the vehicle owners visit service centres often but also seek an appointment with a doctor.
If cab drivers were complaining of back problems, private vehicles owners are raising concerns over maintenance of the vehicles.
All through, dug up or potholed roads welcome commuters. Beginning from software professionals to city bus drivers, people are having a torrid time in plying on the city roads.
"On an average, I travel 300 km a day dropping the employees at the nook and cranny of the city. Road conditions at many places including areas like Jubilee Hills are worst. It is not only making us leave the employees late at the office but also affecting our backs," says Mohd. Ayub Khan, a call-centre cab driver.
If cab drivers were complaining of back problems, private vehicles owners are raising concerns over maintenance of the vehicles.
"In the last couple of years, I was forced to change the radiators and air-condition valves of my car twice due to dirt accumulation and not to say of the bills. I am from Bangalore and it is the same problem there also, but things are organised very well there, unlike Hyderabad," fumes K. Aparna Reddy, a software professional.
When the bad road conditions from Gudimalkapur to Padmaraonagar and Banjara Hills to Vanasthalipuram are causing all sorts of inconvenience, traffic jam on the main and well-laid roads is adding to the woes of commuters.
And no one would have a better say than a city bus driver. "If plying through the potholed roads was a task, then the traffic jam on the main roads is nothing but rubbing salt into the wounds. We cannot blame the people for that, if the lanes and roads in the colonies were good most of them would prefer passing through the colonies. Due to traffic jam it is not only the passengers who suffer but we too, as our frequency time will be affected," says T. Madhar, a city bus driver. - The Hindu
Whichever way you look at it, it's been a difficult few weeks for the Indian off-shoring industry. Two weeks ago the utility company Powergen said it was closing its Indian call centre, blaming the decision on the fact that it had had a negative effect on customer service.
Offshoring companies are rewarded with savings, about 55% in operating costs but, customers have complained about poor service. A number of media reports concerning theft of data have only further fuelled uncertainty in the public consciousness.
Earlier this week, a worker at HSBC's Bangalore call centre was arrested after he was caught allegedly supplying personal details to fraudsters who went on to steal £ 230,000 from 16 UK customers.
Over the last five years a large number of high-profile organisations - particularly in the finance and telecoms sectors - have opted to move call centres, and other parts of the operation, abroad. They are rewarded with savings of between 37% and 55% in operating costs but, in many cases, customers have complained about poor service. A number of media reports concerning theft of data have only further fuelled uncertainty in the public consciousness.
With absenteeism and staff turnover in India now approaching levels in the UK, many companies are starting to ask whether the savings are worth it. Particularly when they see rivals promoting the fact they remain in the UK - and picking up customers on the back of it.
So will other firms be following Powergen's lead? Some certainly will, according to Mike Harvard, managing director of CM-Insight, an independent consultancy which advises companies on call centre management. "Lots of companies that have, until now, been waxing lyrical about the cost savings, are starting to ask about the impact of moving operations to India.
"Last year, Kwik-Fit Insurance very publicly said it was pulling out, preferring to keep call-handling in the UK and I can see others following suit.
"Questions are being asked in boardrooms across the country about whether the savings are worth the potential loss of consumer confidence." He says the success, or otherwise, of the operation depends entirely on how it is managed. "Too many companies have shunted poorly-performing [call centre] operations to the subcontinent on the basis that because it costs less, it might turn a profit. In such instances, it's no surprise when it fails abroad.
"However, other operations that have invested heavily in training and designing up-to-date working practices have performed extremely well." His message is simple - companies running poorly performing call centres in the UK will run the same abroad. Unfortunately, he declined to name names. Despite the rash of negative headlines and lots of noise from the union Amicus - which has bitterly opposed offshoring from the start - call centre-based fraud has historically been much lower in India than at other centres around the world, including Britain.
HSBC confirmed that this week but failed to mention that frauds committed at home are rarely reported in the same way - not least because the UK banks are much better at hushing them up.
Away from the financial sector, National Rail Enquiries ran into a huge storm three years ago when it awarded its contracts to firms operating in India. At the time, the media seized on complaints from consumers who had been given the wrong information by staff unable to find places such as Alnwick.
When a customer rings in, they are taken through an automated series of questions designed to establish the nature of their enquiry. The relatively straightforward questions are routed to one of our call centres in Mumbai or Hyderabad.
However, the company, which receives 150,000 calls a day, now runs four centres: two at home and two in India. A spokesman insisted that complaint levels were exactly the same for UK and Indian sites. "We monitor the service very strictly,
and the results are published regularly," he said.
Compare that with the low-cost internet and telephone company Onetel, which was recently taken over by the Carphone Warehouse. It has seen its reputation slide, partly on the back of poor customer service from India. This week it declined to talk about it, except to say that there were no plans to end the operation at this stage.
Ken Wheeler, sales and marketing manager with a offshore call centre specialist, SITEL, said the secret of using calls abroad was to get the Indian workers to deal with the questions that are easily answered, leaving the UK to answer more complex enquiries.
"We run a very successful operation of the rewards company Nectar. When a customer rings in, they are taken through an automated series of questions designed to establish the nature of their enquiry. The relatively straightforward questions are routed to one of our call centres in Mumbai or Hyderabad. Complex enquiries go to the UK centre in Newcastle. Calls that escalate into more complex enquiries are 'warm transferred' back to the UK."
Ironically, the jobs initially lost to India may be returning - with Indian companies. Just days after the Powergen announcement, ICICI OneSource, a Mumbai-based outsourcing company, said it was building a new 1,000-person call centre in Belfast. ICICI said it was attracted to Northern Ireland because of its highly skilled workforce and relatively cheap property prices.
The Qutub Shahis had modelled their beloved Hyderabad on the Persian city of Isfahan enlisting architects all the way from that land.
The grand plan of both the state and Iranian governments is to get the entire area declared as a world heritage site. That would mean funding by various UN bodies, as well as instant international attention.
Now 400 years later, the descendants of these architects are coming down to Hyderabad to renovate and remodel some of the old structures. This follows an offer made by the Iranian government.
While the tombs of seven Quli Qutub Shah kings, arguably among the world's largest necropolis (place where the royal family of a dynasty are buried), is to be restored by the Iranians with a budget of Rs 5 crore provided by the government of Andhra Pradesh.
The Iranian government will itself fund and restore the Premamati mosque and the Badshahi Ashoorkhana (a place where tears are shed over the martyrdom of the Prophet's grandson Hussain).
The programme is scheduled to be kicked off after an international conference jointly hosted by the Iranian and AP governments (with permission from the Centre) to be held in the city from July 8-12.
Expected to attract conservators from all over the world, the conference will focus on conservation management techniques for ancient monuments and heritage sites, application of national and international laws to protect the sites and conservation of world heritage sites.
The Quli Qutub Shah tombs lie sprawled across 130 acres. Apart from restoration work on the tombs, the Iranians will design gardens on the lines of those that existed in the ancient cities of Persia.
It transpires that the structures that were built by the Persians did not have one single foundation as such, and material such as egg yolk, urad dal (black gram) and lime went into the construction of the structures.
"Therefore, the expertise of the Iranians is required in the restoration of these structures," said a senior official associated with the project. The Premamati mosque, which is incomplete, extends to about 30-40 acres.
The Iranians are to restore the area by building gardens here too. Legend has it that Premamati used to dance at that place named after her, while Taramati used to sing at the place opposite to this.
Because of the acoustics specialized in by the Qutab Shahis, the royal court used to watch the performances from their court in Golconda nearby.
The Badshahi Ashoorkhana also extends to about 30-40 acres and will be restored by the Iranians. The grand plan of both the state and Iranian governments is to get the entire area declared as a world heritage site. That would mean funding by various UN bodies, as well as instant international attention. - The Times of India
Kolkata-based Xenitis Group, producers of low cost PCs, is planning to set up a semiconductor manufacturing unit at Hyderabad's proposed Fab City with an initial investment of Rs 1,200 crore-Rs 1,500 crore.
The other reason for looking beyond West Bengal is the ready availability of infrastructure, water and quality power. Hyderabad has it all
A company delegation met chief minister Y S Rajasekhara Reddy here today and secured assurance of land and other support from the state government. Speaking to mediapersons after the meeting, Ambar Mukerji, president and CFO of Xenitis, said they were in talks with a couple of Taiwanese semiconductor majors for technology transfer for their project. The fab unit's capacity would be to the extent of $2 million revenues per day, he added.
"Initially, we would be producing 6 inch mobile chips used in mobile phones and later expand the operations to PC components," Mukerji said, adding that the entire phase I investment of over Rs 1,200 crore, through both debt and equity, would be made within six months once the project is under way.
The plans on the technology front are expected to be firmed up in the next two months. It would be the company's first project outside West Bengal. The company has received an assurance from the Centre that it would hold 30 per cent equity in their Hyderabad project, according to a Xenitis representative.
As for the formal agreement with the A P government, Mukerji said, the company would sign an MoU with the state government in another six weeks. Stating that they sought the allotment of over 100 acres of land in the Fab City, Mukerji said the chief minister assured certain incentives to the company in addition to the land and the Centre's policy support.
The AP government would also hold a small portion of equity in exchange of the land. There will not be any separate agreement with SemIndia, the main client of the Fab City project, except on services to be received from them, he clarified. The company president said that companies like Wipro and HCL were looking at their component manufacturing plans as the domestic availability of these products give at least a 15 per cent cost benefit to them.
According to Mukerji, Xenitis is already in talks with cellphone manufacturing companies like Ericsson for supply of mobile chips to be produced at the proposed Hyderabad unit. While Union communications and IT minister Dayanidhi Maran himself persuaded Xenitis to enter into the semiconductor manufacturing sector, the state government's APInvest, which has been handling the Fab City project, has done the rest, according to Mukerji.
"The other reason for looking beyond West Bengal is the ready availability of infrastructure, water and quality power. Hyderabad has it all," he said. Senior officials of the APInvest denied to speak on the project in view of election code.
The much hyped Fab City whose foundation stone was laid by chief minister Y S Rajasekhara Reddy recently has run into roadblocks.
The objections being raised by the officials are much more broader than just the issue of finances. The intellectual property (IP) issue still continues to bother the officials.
The promoters - Vinod Agarwal and associates - have still not been able to sew up the $3 billion fund required for taking the project forward. Without any evidence of this happening, the government is not keen to part with land for the project.
The project has also been hampered by the non-announcement of a semi-conductor policy by the central government and intellectual property rights issues regarding the technology to be used by SemIndia.
Promised by telecom & IT minister Dayanidhi Maran, the semi-conductor policy would lay down the incentives that the government would give and help financial closure of the project.
As per the memorandum of understanding (MOU) between the state government and SemIndia, the anchor client in Fab City, the government would allot 1,200 acres at Tukkuguda in Maheshwaram mandal in addition to providing various tax incentives and subsidies.
"There are several issues that are yet to be sorted out. We can't give away land just like that. Certainly we can't hand over the 1200 acres at one go," a senior official said.
With the promoters lobbying hard for the transfer of the entire land, the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) relented and agreed to allot 300 acres in the first phase.
"The current allotment (300 acres) is more than enough for them to get the special economic zone (SEZ) status. Subsequently, we will allot additional land based on the progress made in the project," an APIIC official said.
Suggesting that Agarwal is not happy about the 300 acres and was lobbying hard, an official said: "He (Agarwal) is asking for the entire land as his organisation has to appoint a consultant for finalising the master plan for the entire project.
But when we are yet to get fully satisfied, we can't let an asset go out of the government's hands." In spite of best efforts, Vinod Agarwal was not contactable. But a SemIndia official told : "We are working on the project and we see no problem in getting the land as things progress."
The objections being raised by the officials are much more broader than just the issue of finances. The intellectual property (IP) issue still continues to bother the officials. - The Times of India
US telecom technology major Qualcomm Wednesday announced plans to sell its new third generation mobiles in India through planned tie-ups with Indian companies.
The US company has research and development centres in Bangalore and Hyderabad where software and hardware designs are developed.
Qualcomm CEO Paul Jacob said his company is currently in negotiations with Reliance Infocomm. 'I will be holding talks with Mr. Anil Ambani tomorrow (Friday), let's see what happens,' Jacob said at seminar on regulatory issues here.
He said his company plans to make India an important hub for its newly developed technology called BREW (binary runtime environment for wireless).
BREW is a platform that enables application developers, publishers, content providers, device manufacturers, operators and customers to use Qualcomm's technology to build applications for mobile devices.
India has one of the fastest growing mobile subscriber base in the world adding nearly three million people users each month. According to estimates, there over 75 million subscribers using the mobile phone now, up from a minimal number five years ago.
Qualcomm is the world's largest provider of 3-G (third generation) chipset and software technology. It supplies CDMA (Code Division Multiple Access) to various handset-manufacturing companies such as LG, Samsung and Nokia. The earlier generation technologies related to voice and SMS.
The US company has research and development centres in Bangalore and Hyderabad where software and hardware designs are developed.
The company plans to sell cheap CDMA handsets costing less than $30 (nearly Rs.1400) in the Indian market.
US telecom technology major Qualcomm Wednesday announced plans to sell its new third generation mobiles in India through planned tie-ups with Indian companies.
The US company has research and development centres in Bangalore and Hyderabad where software and hardware designs are developed.
Qualcomm CEO Paul Jacob said his company is currently in negotiations with Reliance Infocomm. 'I will be holding talks with Mr. Anil Ambani tomorrow (Friday), let's see what happens,' Jacob said at seminar on regulatory issues here.
He said his company plans to make India an important hub for its newly developed technology called BREW (binary runtime environment for wireless).
BREW is a platform that enables application developers, publishers, content providers, device manufacturers, operators and customers to use Qualcomm's technology to build applications for mobile devices.
India has one of the fastest growing mobile subscriber base in the world adding nearly three million people users each month. According to estimates, there over 75 million subscribers using the mobile phone now, up from a minimal number five years ago.
Qualcomm is the world's largest provider of 3-G (third generation) chipset and software technology. It supplies CDMA (Code Division Multiple Access) to various handset-manufacturing companies such as LG, Samsung and Nokia. The earlier generation technologies related to voice and SMS.
The US company has research and development centres in Bangalore and Hyderabad where software and hardware designs are developed.
The company plans to sell cheap CDMA handsets costing less than $30 (nearly Rs.1400) in the Indian market.
Tata Motors said it would launch the much-touted Rs one lakh car in early 2008, as the company had completed its styling and designing and tested the prototypes within the plant.
It calls for more fuel- efficient engines and will spur the development of alternate fuels and energy sources for vehicles of the future.
Tata Group Chief Ratan Tata told shareholders that the launch of the car would create a new paradigm in low-cost personal transport, carve out a new market segment and reach a broader base of the pyramid.
"The styling and designing of the car have been completed and prototypes are being tested in the plant. It will be a rear engine, 4-5 seat, four-door car with about a 30 horsepower engine," Tata said in the company's annual report for 2005-06.
The car will be launched in early 2008 and we believe it will be extremely attractive to the Indian consumer, particularly younger families, at a price level of about Rs one lakh, Tata said.
First steps have been taken to locate the manufacturing plant near Kolkata, he added. Stating that rising fuel costs added strain on the automobile industry in both commercial vehicle and passenger car segments, the Tata Chief said it calls for more fuel- efficient engines and will spur the development of alternate fuels and energy sources for vehicles of the future.
"Tata Motors, like other automobile companies, is exploring various new technologies to meet the new challenges arising from spiraling energy costs," he said.
While corporate giants like Bill Gates and Warren Buffet stun the world with their generosity and also set new milestones for philanthropy, it raises serious questions about the philanthropic appetite of Indian industrialists.
It's not as though we are not doing it as a society. In fact, one great survey that is done in India found that 70 million people actually donate to the poor and a lot of them are earning as much as $ 171 per month. So if they can contribute as a society, then we are a philanthropic society.
The Tatas were the early pioneers and donated large parts of their wealth in setting up centres of excellence like the Indian Institute of Science in Bangalore and setting up the Tata Trust.
However, in a globalised India, it has been companies like Infosys and Wipro who have come forward to embrace philanthropy, but such companies are still few and far between.
"Although there aren't too many organizations undertaking charity in India, I am sure it is going to be a pattern even in India. For a long time, Indians did not earn money legally and ethically and now people have earned that kind of money."
"Moreover, money is a very peculiar thing, it gives you the power to do the good things you want to do," says Sudha Murthy, Chairperson, Infosys Foundation.
However, there is always a question about the need for a thought process that leads one to undertake philanthropic ventures. "I am sure this is a new pattern and it's going to come and hit people because the moment you get saturation you feel money doesn't have much meaning other than fulfilling basic needs," she adds.
That indeed was true and there are examples of the poor contributing for the poor like the Kumbokonam fire tragedy victims contributing generously for the Tsunami victims.
"It's not as though we are not doing it as a society. In fact, one great survey that is done in India found that 70 million people actually donate to the poor and a lot of them are earning as much as $ 171 per month. So if they can contribute as a society, then we are a philanthropic society."
"Another survey that was done recently in the tech communities of Bangalore and Hyderabad also suggested that they are looking at giving. But, the whole process of giving has changed now, and they are not willing to give to government organisations or NGOs," says Chocko Valliappa, CEO, VEE Technologies.
Nevertheless, to give or not to give should not really be such a difficult question in a country where numerous children, women and men go to bed hungry every night.
Jones Lang LaSalle the only real estate money management and services firm named to Forbes magazine's Platinum 400, has released a report on realestate business in India.
the Report says India's real estate investment market has grown rapidly over the past 18 months, and following the partial relaxation of Foreign Direct Investment (FDI) regulations in February 2005, the country is now attracting substantial interest from cross-border real estate investors.
In India, Jones Lang LaSalle is bullish on Tier II cities, pointing out that Hyderabad, Chennai and Pune are the focus of increasing investor activity
A World Winning Cities report titled "India: A Real Estate Investment Future", released by Jones Lang LaSalle underlines the attractiveness of the Indian realty as an investment opportunity, underpinned by a booming and increasingly diversified economy, significant potential for rapid expansion in FDI and a maturing real estate market.
While the report highlighted short term investment opportunities in suburban offices and the residential sector and medium term ones in the retail sector, it also cautions that issues such as liquidity and title ownership continue to act as constraints to cross-border investor activity.
In India, Jones Lang LaSalle is bullish on Tier II cities, pointing out that Hyderabad, Chennai and Pune are the focus of increasing investor activity, with the yield gap between Tier I and II cities having narrowed to as low as 100 basis points and some of the largest and most high profile developments by cross-border developers happening in Tier II cities.
Overall, the report concludes that buoyed by significant growth in capital formation in the real estate industry and the rise of more sophisticated real estate capital markets, India presents a significant investment opportunity. Vincent Lottefier, Country Head, Jones Lang LaSalle India says, "Those investors who have a long term strategic vision and commitment to India are likely to be the most successful."
"Emerging City Winners" is Phase IV of the Jones Lang LaSalle's World Winning Cities Research, a multi-year program which draws together the essence of contemporary city competitiveness. World Winning Cities examine trends that are impacting on the business and economic landscape, and how these factors are coalescing to create the rising urban stars of the next decade. The research aims to identify the winners and losers among the emerging cities in India, China and Russia.
Jones Lang LaSalle Identifies Indian Realty as Big Potential Winner in Global Investor Stakes.
Here's music to the ears of harried bus commuters of the twin cities. Travelling in ordinary city buses crammed with people and reeking of sweat would soon be a pleasant experience if a proposal to introduce FM radio in them comes by.
There are about 1,800 ordinary buses making 36,000 trips with a staggering 32 lakh people using them everyday.
With the FM boom on, a few FM radio channels have approached the APSRTC city region authorities with the proposal. FM radio is already installed in Veera and Metro Express buses providing unlimited entertainment to passengers. With the plan to bring in the ordinary services into the FM bandwidth, passengers could well sing all the way to their destinations.
There are about 1,800 ordinary buses making 36,000 trips with a staggering 32 lakh people using them everyday. Nearly 150 Metro buses and several Veera buses have FM radio equipment. n the advantages of installing FM radio in the buses, Mr. Murthy says besides providing entertainment to passengers, information on traffic jams and other civic issues can be aired which is beneficial to them.
Various civic issues can be communicated as it is the commonest of the commoners who use the ordinary services. It has the potential to be an entertaining as well as informative medium.
