Category Archives: Business & Economy

Oldest NGO finds a new home after a century

Arts, Culture & Entertainment, Business & Economy, Historical Links / Pre-Independence, Records, All

Kolkata:

After 100 years, the Bengal Home Industries Association has finally moved into its own home.

Founded in 1916 by a group of intellectuals to give a boost to the swadeshi movement, the association had to run around from one rented place to another all these years. Touted as the country’s first NGO to promote Bengal’s handloom and handicraft, the association has bought its own outlet and reinvented itself to be in tune with the changing times.

The swanky outlet off Rashbehari Avenue is now ready to compete with other pan-India brands that promote handloom and handicraft. The focus has changed too: items for sale have been designed as lifestyle products to attract the urban cli entele. There is no shift from the basic theme of promoting village products, only that they are more stylish now.

In 1914, Rabindranath Tagore’s nephew, a prominent master of the Bengal school himself, Gaganendranath Tagore and his brother, Aba nindranath Tagore, along with some friends like Burdwan Maharaja Bijoy Chandra Mahtab and the royal family of Coochbehar, formed the association as a symbol of swadeshi. The idea behind forming the Bengal Home Industries Association was that it was not enough to just reject foreign goods but to also encourage our own weavers and craftsmen to make indigenous products. The association’s job was two-pronged: to network among village craftsmen and collect and sell their products.

The artist duo of Gaganendranath Tagore and Abanindranath Tagore added value and novelty to the products, making them a hit even with the elite clientele.

One such patron was Carmichael Duck. The story goes that Lady Carmichael -wife of the then Bengal Governor -who was close to members of the association, asked Gaganendranath to create some interesting designs that could be used on blocks. “Gagan Tagore created a motif of a duck created out of a simple geometric pattern.The design became popular overnight and was used widely for block printing on scarves, stoles and sarees,” said Nandini Mahtab, the “queen” of the Burdwan royal family and a member of the association.

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The Bengal Home Industries Association has tied up with Banglanatak.com, a revivalist organization that is working on indigenous tangible and intangible art forms in Bengal. It is helping the association to use art forms, such as `patachitra’, on textiles to make lifestyle products like cushion covers, throws, runners and even tshirts and trousers.

The association was famous for items like its Portuguese cutwork and shadow work and a unique weave called Roshanara, which is created by mixing rayon and cotton yarn. “We have once again trained our artisans in these arts. While the Portuguese cutwork in home linen is available in our new store, Roshanara will make its entry any day now,” Mahtab added.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / by Jhimli Mukherjee / April 11th, 2016

US scholar on tea trail to dig up treasure trove

Arts, Culture & Entertainment, Business & Economy, Education, NRI's / PIO's, World Opinion

RomitaKOLKATA13apr2016

Kolkata:

A research on the treasure trove of tea in India has earned an associate professor of art history at Syracuse University, with roots in Kolkata, the prestigious National Endowment for the Humanities Fellowship 2016.

Romita Ray is not oblivious to the crisis ailing the tea industry, but she is working to strike a balance between the desolation associated with the sector and the shining aspect of the golden brew. “These (starvation deaths at tea estates) are a reality of the industry, but one needs to balance the bleakness with identifying tea as a botanic exotic. After all, it’s a living history that continues to connect Kolkata and Britain even after so many years,” said the Loreto House alumna who migrated to the US many years ago.

Her unique research is set to culminate in a book, tentatively titled ‘From Two Leaves and a Bud: The Visual Cultures of Tea Consumption in Colonial and Modern India’.

This will be the second literary attempt by the Yale University scholar, who specializes in art and architecture of the British empire in India, her earlier work being ‘Under the Banyan Tree: Relocating the picturesque in British India’.

Her passion for the evergreen shrub seems to run in the family, her great grandfather, Tarini Prosad, being the founder chairman of the Indian Tea Planters’ Association in Jalpaiguri.

Her current project, funded by the exalting and year-long National Endowment for the Humanities Fellowship (NEH) 2016, will be her second literary attempt. NEH is one of the largest funders of humanities programs in the United States, and highly competetive.

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Ray now is set to deliver her first “tea talk” in Kolkata on Monday at Victoria Memorial Hall, when she is going to deliver a lecture on ‘Botanical treasure, ornamental wonder: Aestheticizing tea in Britain and Colonial Calcutta’.

She will focus on how Chinese tea, once a botanical novelty in the 18th-century Britain, crystalized into a paradigm of the “tea time”, a fashionable culinary ritual in the 21st century Britain.

“Calcutta’s (‘Kolkata’ doesn’t roll off Ray’s tongue so easily) connection with tea goes back to the 18th century when East India Company started the Canton tea trade,” said Ray, explaining why she had to be in Kolkata, away from her classes in the US, for her research.

“My book is about the visual cultures and landscapes… it is about consumption of tea in colonial and post-colonial India. It looks at the tea plant as an ornamental curiosity, the tea planter (British and Indian) as a pioneer figure whose portraits are rarely discussed, and the tea plantation as a multi-layered landscape of cultivation and leisure.”

The book will not be launched soon. “Academic books take a long time to research and write,” Ray said. The task involved extensive research at museums, archives, private collections, tea estates and libraries in the UK, India and Sri Lanka.

Being the epicentre of the Indian tea industry, Kolkata houses the Tea Research Association, Indian Tea Association and the Tea Board, along with auction house J Thomas, and even tea companies McLeod Russell and Goodricke are headquartered here.

This is where she will find the East India Company records.

“The Shibpur botanic garden is a mine of information,” said Ray, who has visited Assam, Darjeeling and the Dooars and intends to travel to south India as well as Sri Lanka.

She also intends to dig out family records with the help of multi-generations of tea families.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / April 10th, 2016

Belle Vue to set up 2 new hospitals and nursing college

Business & Economy, Education, Science & Technology

Kolkata :

With an investment of Rs 500 crore, the super-speciality Belle Vue Clinic is building another 400-bedded hospital, an eye hospital and a nursing college in Rajarhat.

“We have got two plots of two acres each in Rajarhat area where we will be expanding. Funds to the tune of Rs 500 crore have already been allocated for the new facilities,” hospital CEO P Tondon told reporters here today.

He said the 400-bedded super speciality hospital will have different departments but it will specialise in trauma care.

“Trauma care is a very difficult subject and everybody doesn’t want to venture into it,” he said adding that the construction work will begin from January next year.

The new hospital as well as the eye hospital will be ready by 2020, the official said.

On another two acre plot they will set up a nursing school, accredited by the Nursing Council of India, where 400 students will be trained in nursing skills.

“There is a lot of shortage for nurses. We are also seeking permission from the state government to allow us train male nurses as well. Lot of patients want male nurses and so there is a big shortage in the market,” Tondon said.

The nursing school will offer courses in General Nursing & Midwifery (GNM) and a BSc in nursing. Both courses are of three year duration.

Belle Vue has now got recognition from the National Accreditation Board of Hospitals & Healthcare Providers (NABH).

Their existing setup in south Kolkata has 287 beds at present which will be expanded to 357 in a year’s time.

“We are always short of beds. Lot of patients under the West Bengal health scheme also come to us and so we are adding two new floors in the building to have 70 extra beds,” the hospital head said. NIK NN

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / PTI / April 08th, 2016

Century Ply expands global footprint

Business & Economy, World Opinion

Kolkata:

Century Plyboards, one of the leading plywood manufacturers in India and a growing mid-cap company in the bourses, is expanding its global footprint in an attempt to become an Indian multinational. The city-based plywood maker has set a target of $50 million (Rs 340 crore) turnover from its overseas operations in the next two years. Currently, the company has a turnover of close to Rs 1,600 crore.

Sajjan Bhajanka, chairman of Century Ply, told TOI that it is expecting $35 million turnover from its Singapore subsidiary and another $15 million would come from its Myanmar operations. Century Myanmar is a wholly owned subsidiary of Century Ply while the company has 51% stake in Century Singapore. Bhajanka said that the remaining 49% of Century Singapore is with a company called Viet Dutch, promoted by an NRI. “We shall cater to Laos, Vietnam and Indonesia through this Singapore firm. We are entering all these markets where Ajay Bhagat, an NRI, will be our partner,” he added.

Bhajanka pointed out that Century would initially invest $5 million for entering into these markets. “We shall use these companies to source raw materials for our Indian and global operations. This will help reduce cost,” he added.

According to the Century Ply chairman, the group is also firming up plans to set up a plywood factory in Laos. The investment in the project would be over $12 million. The group already has an overseas facility in Myanmar. “We have a big factory in Myanmar. This is the second highest exporting unit in that country,” he added.

Elaborating on the Indian operations, Bhajanka said it is setting up a medium density fibreboard (MDF) plant in Punjab with an investment of over Rs 400 crore. “This plant will be ready by mid-2017. We are also setting up a particle board unit near Chennai with an investment of Rs 60 crore. It will be ready in the next few months,” he added.

Besides MDF and particle board, Century is entering into new product lines like wood cement and wood plastic. “As far as wood cement is concerned, we shall initially import it from China and Thailand but we will take a call on manufacturing facility by next year,” he added. On BSE, the Century Ply scrip was hovering at Rs 160-165 range for the last few days.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / by Udit Prasanna Mukherji / March 31st, 2016

Indian-American Named President, CEO of Bank of The West

Business & Economy, Inspiration / Positive News and Features, Leaders, NRI's / PIO's, World Opinion
Photo Credits: Nandita Bakshi via Linkedin
Photo Credits: Nandita Bakshi via Linkedin

Houston :

Indian-American Nandita Bakshi has been appointed the President and Chief Executive Officer of Bank of the West, a unit of French banking giant BNP Paribas.

Bakshi, 57, will replace Michael Shepherd as Bank of the West’s next President and Chief Executive Officer (CEO) and is expected to join the bank as a CEO-in-training on April 1 and will take the helm officially on June 1.

She earned a bachelor’s degree in History at the University of Calcutta and a masters in International Relations and Affairs at Jadavpur University.

A New England News ‘Woman of the Year’ award recipient in 2002, Bakhshi also serves on the board of the Consumer Bankers Association.
“I am excited to join Bank of the West, one of America’s most reputable banks. Bank of the West is well positioned in the US market, and I am thrilled at the prospect of leading an organisation with such a strong focus on customer service,” Bakhshi said in a statement.

“We are pleased to welcome Nandita Bakhshi to Bank of the West. Her extensive experience in product and distribution, coupled with her visionary thinking, relentless customer focus and values-driven philosophy will serve us well in taking Bank of the West to greater heights,” head of international retail banking for BNP Paribas Stefaan Decraene said.

Bank of the West’s parent company BNP Paribas is revamping its US operations to meet new regulations.

“I am very pleased that Nandita Bakhshi is joining Bank of the West. Her energy, innovative ideas and proven record of accomplishments are a great combination with our strong franchise and corporate culture,” Shepherd said.

Bakhshi previously held several leadership roles at TD Bank, the most recent being executive vice president and head of North American direct channels where she was responsible for driving innovation in direct and electronic channels to improve digital adoption and provide customers a unified banking experience.

She also held executive positions at Washington Mutual in Seattle which is now JP Morgan Chase; FleetBoston, which is now Bank of America; First Data Corp, Home Savings of America and Banc One Corp.

source: http://www.newindianexpress.com / The New Indian Express / Home> Business> News / by PTI / March 28th, 2016

Glorious night for Bengal biz biggies

Business & Economy, Leaders

Kolkata:

The state government is planning to join hands with chambers of commerce and industry bodies to create a structure for corporate social responsibility of the Bengal Inc, disclosed state finance and industries minister Amit Mitra at the fourth edition of the ET Bengal Corporate Awards held last week.

According to Mitra, one of the guests of honour, the award holds up the transforming image of the Bengal industry. Besides Mitra, Niti Aayog vice-chairman Arvind Panagariya was the other guest of honour.

This time, 263 organisations participated in categories that included best financial performance, fastest-growing company, highest job creator and innovation in business. The first category received maximum nominations, followed by the second and the third category. There were two special award categories: lifetime achievement and Indian visionary business leader.

The Oberoi Group executive chairman Prithviraj Singh Oberoi received the Visionary Business Leader award. EIH Ltd executive vice-chairman SS Mukherjee received the award on his behalf from Panagariya. The Lifetime achievement award went to Emami founders R S Agarwal and R S Goenka. “The secret of success for industry is to create leaders who can execute,” Agarwal said while receiving the award. Panagaria, who was on his maiden trip to Bengal, added that the Bengal success story needed to be told to people.

As many as 13 companies got recognition in various categories. In best financial performance, four companies – Koppern Maco Corporation, La Opala RG, R S Software and Emami Ltd – bagged awards in different sub-categories.

Mega Moda, Indian Cable Net Company, Vikram Solar and Star Ferro and Cement became the fastest growing companies. AKA Logistics, 2 COM Solutions, Vedant Fashions and Magma Corp were the winners in the highest job creator category. The award for innovation in business model went to Senrysa Technologies (P) Ltd.

The award ceremony was sponsored by Anmol, Bengal Energy, Himadri Chemicals, Manyavar, Orbit, PS Group, Rashmi Group, Ultra Force, SKM GRoup, AMPL, Senrysa and was managed by Cherry Tree. The progrramme will be telecast later in ET Now.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / TNN / January 25th, 2016

Honour for new kid on startup block

Business & Economy

Kolkata :

Swagene, all of nine months, was adjudged one the winners at Empresario 2016 – IIT-Kharagpur’s annual global business model competition where business ideas get opportunity and exposure – held at Webel Bhavan on Saturday.

Swagene is the brainchild of Sooraj Ratnakumar, 33, who did his PhD in molecular biology from Cambridge University and has taught in the US, UK and Switzerland. his partner in the company (and not his inspiration) is his mother Vani KM, a Chennai-based gynecologist who was “casually talked into” creating what is the country’s only personalized medicine startup. It not only diagnoses diseases genetically, but also guides clients towards the best cure.

The acknowledgement from IIT-Kharagpur will help Sooraj to carry forward his dream. “I came here because the contest organized by IIT-Kharagpur offers the best exposure in terms of mentorship and advice. I need to know how to make my nine-month-old baby walk,” said Sooraj.

Delhi-based health startup Healu, founded by Priyank Saini, sounded as excited to be here. Priyank and his team provides online services of doctors, but “we are about to launch an offline patient-care in Delhi. Online services are convenient, but one needs offline centres to synchronize so that clients get the personal healing touch that is an integral part of medical treatment,” Priyank said.

The winners were picked up by a jury comprising VCs and angel investors from firms like Nasscom, Omnivore Venture Partners, Villigro and others.

Twenty six startups made detailed presentations spread across two sessions on Saturday. They were shortlisted from 2000-odd entries from India and abroad after a month-long period of evolution. They got some talented mentors from leading seed-funders who advised them on finetuning their business models. The finalists were then selected by jury members.

Pitching and judging were done in two tracks – the judges zeroed in on the winners in four categories. The winners received a cash prize money of Rs 6 lakhs and other incentives.

“We had 110 semifinalists who were connected to industry specialist, professionals and experts for mentorship to create a market-ready and sustainable business model. The mentors helped the participants validate their model,” said Nihar Gupta, IIT-Kharagpur student and one of the organisers.

The pitching sessions by startups were followed by an interaction of investors with startup founders, who wanted to know when should a startup approach investors for money and if it was okay to focus on profits and raise money at a later stage. The investors said startups should approach friends and family, seed and angel investors before going to a venture capital firm.

The event culminated with the announcement of the winners of Empresario, the annual business model competition organized by the entrepreneurship cell of IIT Kharagpur, which provides a direct chance to pitch for funding from the Kharagpur Angel Network that has 30-plus investors on board already.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / TNN / January 09th, 2016

Entrepreneur meet at IIT

Business & Economy, Education, World Opinion

The entrepreneurship cell at IIT Kharagpur has organised the Global Entrepreneurship Summit 2016, partnered by The Telegraph, to promote the spirit of entrepreneurship and start-ups among students. Metro provides a lowdown on the ninth edition of the conclave

When: January 8 to 10.

Time: 6pm to 9.30pm on January 8, 10am to 8.30pm on January 9 and 10am to 6pm on January 10.

Where: IIT Kharagpur. Empresario, the Global Business Competition, will be held at Nasscom Warehouse in Salt Lake on January 9.

Participants: Apart from students of IIT Kharagpur, students from institutions across the country have registered. Around 3,000 students are likely to attend it.

Key events: Workshops on currency and commodity markets, and accelerating growth of start-ups with cloud computing; sessions on Definitive Guide to Growth Hacking by NASSCOM; and Biz Quiz.

Main attraction: Finals of Empresario. It will take place on January 9, from 10.30am, at Nasscom Warehouse in Salt Lake. Venture capitalists and investors engaged by the entrepreneurship cell have shortlisted finalists based on the business models submitted between September and December 15. The finalists will pitch in with their business models in front of the judges.

Key speakers: Asha Saxena from Columbia University, Shailendra Vyakarmanam from Cornfield University and Sashi Reddy from Wharton School. The trio will speak on “Is Silicon Valley the Right Model for Indian Start-ups”, through Skype in the CET studio 1 at the CIC lab of the IIT from 7.30pm to 8.30pm on January 9.

source: http://www.telegraphindia.com / The Telegraph, Calcutta,India / Front Page> Calcutta> Story / January 08th, 2015

Leander Paes appointed ambassador for Legendari Group

Business & Economy, Sports
Legendary Japan Warriors' Leander Paes in action during the men's doubles match against Obi UAE Royals at International Premier Tennis League (IPTL). (PTI Photo)
Legendary Japan Warriors’ Leander Paes in action during the men’s doubles match against Obi UAE Royals at International Premier Tennis League (IPTL). (PTI Photo)

Legendary Indian tennis player Leander Paes was appointed as the global brand ambassador of the Legendari Group, that owns the IPTL’s Japan Franchise, for a period of three years starting 2016 on Sunday.

Legendari Group’s association with Paes will commence from Chennai Open and as part of his role as brand ambassador, Paes will be part of #TeamLEGENDARIAthlete.

“The Legendari Group aims to utilise the power of brand Leander as a springboard to promote tennis and other growing sports across India and Asia. The Legendari Group will support Paes in every step towards achieving Olympic glory as he prepares to participate in the prestigious quadrennial event for a 7th consecutive time,” a press release said.

“I am thrilled to grow my partnership with the Legendari Group. I am excited to associate with them to promote sports, especially tennis. It is an honour to be the first #LegendariAthlete, and I look forward to utilizing my abilities to drive the growth of sports as a way of life,” Paes said.

Executive Chairman & Managing Director, Shanthan Reddy said, “Leander has inspired many generations of tennis players and sportsmen in our country, and across the world with his game. We are absolutely delighted with this opportunity, and wish him success at Rio 2016 and through the year.”

source: http://www.hindustantimes.com / Hindustan Times / Home / PTI, New Delhi / January 03rd, 2016

IIT Madras helps KoPT to slash dredging costs by Rs.250 crore

Business & Economy, Education, Science & Technology

The Kolkata Port Trust may implement a technology that will help it save Rs.250 crore annually through reduced dredging costs, Union Minister for Road Transport, Highways and Shipping Nitin Gadkari said.

Dredging costs at the country’s only riverine port is likely to get reduced from around Rs.400 crore to around Rs.150 crore due to a new process of dredging suggested by the IIT-Madras on the basis of recommendations made by the Boston Consulting Group. The two port systems of KoPT at Kolkata and Haldia have a draft of around 7.5 metres.

Within five years, 50 lakh jobs are expected to be generated by the transport sector, which would have a two per cent addition to GDP, says Nitin Gadkari. Union Minister of Road Transport, Highways and Shipping. R.P.S.Kahlon, Chairman, Kolkata Port Trust, is also seen.— PHOTO: PTI
Within five years, 50 lakh jobs are expected to be generated by the transport sector, which would have a two per cent addition to GDP, says Nitin Gadkari. Union Minister of Road Transport, Highways and Shipping. R.P.S.Kahlon, Chairman, Kolkata Port Trust, is also seen.— PHOTO: PTI

Boston Consulting, on the basis of a Ministry mandate, had made 120 recommendations on improving the performance of all the major Indian ports. “About 20 suggestions are being implemented and the rest would be put in place in two years,” Mr Gadkari said adding that it is not possible to improve exports without good ports.

“For this government, waterways had the highest priority in the logistics segment followed by railways and roadways.” Against the previous government’s pace of laying two km of roads daily, now 18 km of roadways were being laid, he said. The target is to increase it to 30 km a day by March 2016. The Minister also said that within five years, 50 lakh jobs are expected to be generated by the transport sector, which would contribute two per cent to the GDP.

source: http://www.thehindu.com / The Hindu / Home> Business / by Special Correspondent / Kolkata – December 02nd, 2015