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Thursday, November 8, 2001, Chandigarh, India  
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Software
exports surge 33 per cent India
proposes food security box No move to
make EPF contribution voluntary
Focal
point to be set up near Phagwara JK Cement
to increase plant capacity |
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Vardhman
enters garment segment UNIDO to
upgrade R&D centres
Cadbury
may hike stake in arm
Nod for
individual futures trading
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Software exports surge 33 per cent
New Delhi, November 7 As per the industry performance data compiled by Nasscom, during the second quarter (July to September) software export revenues were up 19.6 per cent at Rs 8,900 crore, as compared to Rs 7,440 crore in the corresponding period previous year. The second quarter performance is lower than the software associations’ Q2 projection of Rs 9400 crore made earlier this year, which compared to Q2 2000-01, would have translated into a growth of about 26 per cent. Commenting on the performance of the software industry, Nasscom Chairman Phiroz Vandrevala said: “During the period of economic sluggishness, the IT industry continues to post the highest growth rates among all industries in the country.” Outlining the trends in the Indian IT industry, he said the Indian companies were moving up the value chain, while outsourcing outlook to India was positive despite the challenging period witnessed by the IT industry. “In addition, the European market is growing at a fast pace, and this means a bigger opportunity for the Indian industry,” he said. Another trend tracked by Nasscom showed that besides the USA and Europe, there existed a great opportunity for the Indian companies to provide their services in markets such as China, Japan, Australia, Singapore among others.
Nasscom lowers growth forecast
Anticipating a slower growth in the second half of 2001-02, Nasscom today scaled down its software exports revenue growth projection for the financial year to 30 per cent at Rs 37,000 crore as compared to Rs 28,350 crore clocked in 2000-01. This is lower than 41 per cent growth projected by the software association in August this year, when the software association had estimated that software exports would touch Rs 40,000 crore revenues in 2001-02. “Growing exports by a third on a significant base is no mean achievement and the Indian industry is giving this performance at a time when this sector is actually showing a negative growth in a few countries,” Phiroz Vandrevala told reporters here. Compared year on year this would mean that the software exports growth would slow down to 30 per cent in 2001-02, as compared to 65 per cent in 2000-01, and 56 per cent growth in 1999-2000, mainly as a fallout of the ongoing slowdown and recent terrorist attacks in the USA. Giving a projected breakup for the remaining two quarters of 2001-02, Vandrevala said, “in the third quarter the revenues are likely to be pegged at up to Rs 9,400 crore and in the fourth quarter we expect to add a few hundred crores.” As per the software association’s estimates in august this year, software and services exports were projected to touch about Rs 9,400 crore in the second quarter of 2001-02, Rs 10,300 crore in the third quarter and Rs 11,700 crore in the fourth and the final quarter of 2001-02. Software exports revenues in Q2, however, clocked Rs 8,900 crore.
PTI
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India proposes food security box New Delhi, November 7 A majority of farmers in India and other developing countries are engaged in subsistence farming and they need protection from surge in imports, Agriculture Minister Ajit Singh told a conference of the Food and Agriculture Organisations. He pointed out that while the developing countries extend subsidies worth $ 300 billion to their comparatively small and already affluent farming communities, barriers are being raised to the developing countries doing the same. He called for urgent attention in removing the skewed nature of the present dispensation. The food security in India was becoming increasingly vulnerable to the dynamics of trade liberalisation and during the last six years international prices of agricultural commodities were steadily declining and agricultural exports were decreasing. This had adversely affected the farming sector as it has resulted in both production losses due to vagaries of weather and low prices. The Minister urged the FAO to support the country’s strategies which promote holistic and integrated watershed development and the efficient and equitable management of water resources. Calling for technical assistance to the developing countries in the areas of sanitary and phyto-sanitary standards, he said the developing countries need to strengthen their capacities in these areas.
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No move to make EPF contribution voluntary New Delhi, November 7 Briefing newspersons about the future plans of the Employees’ Provident Fund Organisation (EPFO) during the ongoing Editors Conference on Social sector issues, Central Provident Fund Commissioner Ajai Singh said a blue-print for the system which has already been drawn with technical assistance from the ADB, includes unique identification number for Fund subscribers and unique business number to existing covered employers in line with income tax PAN. Labour Secretary Vinod Vaish, who launched a comprehensive and interactive website of the EPFO on this occasion, said the Centre has no proposal to make an employees’s contribution to the EPF scheme voluntary. The EPFO website www.epfindia.com would answer the queries of most of the visitors, Mr Ajai Singh said, adding that this would eliminate visit to offices. The interest in the EPF scheme is 9.5 per cent and the same was decided by the Central Board of Trustees of the EPFO, Mr Vaish said adding that since the provident fund was largely invested in government securities, the interest on PF contribution was linked on the interest rate on them. Mr Vaish said that the government is working for bringing an amendment to the Industrial Disputes Act 1947 which would empower employers to hire and fire employees in a unit
employing more than 1,000 employees. For this the employer will not be required to take prior permission of the government, he pointed out.
Call to bridge
rural-urban gap
Rural Development Minister M. Venkaiah Naidu today pointed out that there was a strong urban bias everywhere and stressed that there was need to shift the focus from urban to rural areas. “There is an urban bias, I say with a heavy heart. From the Planning Commission to Parliament, and from political parties to media, the bias is inbuilt, though it may not be intentional,” he said while delivering the opening address at the Third Editors’ Conference on Social Sector Issues here. He said there was an increasing focus on urban-related issues, and said there was a need to shift the focus to problems faced by rural people and the happenings in the countryside. “It would be unfair if we do not attempt to focus more attention to rural areas,” he said, adding that there was an urgent need to bridge the urban-rural divide. The Minister said that to ensure sustainable development of rural areas, the allocation for the department had been raised from Rs 9760 crore last year to Rs 12,265 crore this year. Coupled with the states’ share as well as bank credit, the total outlay of the programmes of the Ministry would be about Rs 18,000 crore, he said.
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Focal point to be set up near Phagwara Phillaur, November 7 This was disclosed by Mr Ramesh Inder Singh, Principal Secretary, Industries and Commerce, Punjab while addressing a seminar of industrialists and exporters of the state, organised by the Northern India Exporters Federation here today. He encouraged the industrialists and exporters for competition in the international market during a period of heavy recession, in the world. He said the state government has decided to challenge the legality of the WTO agreement in the Supreme Court like Rajasthan and Tamil Nadu. Commenting upon the demands of the industrialists and exporters, he announced the setting up of an industrial focal point near Phagwara. He said the General Manager, DIC, will visit Phagwara twice a week to solve the problems of industrialists. He reiterated the government’s commitment to abolish octroi, and said the Defence Ministry has given its consent to open Halwara Army airport for civil flights. He said the export processing zone will be set up in 1,000 acres at Ladhowal near Ludhiana with a cost of Rs 250 crore. PSIDC MD Kulbir Singh, Labour Commissioner Vijay Kumar Janjua, Deputy Commissioner Kapurthala Vivek Aggarwal, S.D.M. Amarjit Paul and Nagar Council President Kharaiti Lal Gaba.
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JK Cement to increase plant capacity Chandigarh , November 7 He said the company produced 10. 54 million tonnes of cement between March and September this year and by the end of March 2002, it would produce more than 13 lakh tonnes. "An increase in demand has been witnessed due to an improvement in the housing sector and we expect 8 to 10 per cent increase in the market demand this year," he said.
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Vardhman enters garment segment Chandigarh , November 7 In the first phase, Vardhman has launched its formal dress shirt collection with prices ranging between Rs 545 and Rs 750. During the second phase, the company will introduce premium mens trousers. The products will be available at Capsons outlets and by January, these will be available in Punjab, Haryana and Himachal Pradesh. "We are entering only mens' wear segment right now," said Mr Jain.
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UNIDO to upgrade R&D centres Chandigarh, November 7 Speaking at a function here today, he explained to the delegates of six African countries that the R & D centre for bicycle and sewing machine, institute for auto parts technology and the institute for machine tool technology were equipped with the latest technology of international standards. Mr R.I. Singh, Secretary, Industries and Principal Secretary to the Chief Minister, Punjab, said the government had also chalked out an ambitious plan for strengthening of these three research and development institutes. Hoping that these institutes would be instrumental in imparting training and upgrading the technical skills at par with requisite specifications of the UNDP and
UNIDO.
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