Category Archives: Business & Economy

Les Clefs d’Or India Concierge holds its 9th AGM in Kolkata

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Les Clefs d’Or India Concierge recently held its ninth Annual General Meeting (AGM) in Kolkata recently.

The AGM was inaugurated by Zaid Farooqi, resident manager, Taj Bengal, Kolkata; James Ridenour chief concierge, InterContinental, Sydney and general secretary, Les Clefs d’Or International; Stephen Fernandes, past president, Les Clefs d’Or India; and Edwin Saldanha, president, Les Clefs d’Or India and Asian zone director, Les Clefs d’Or International.

Regional presentations were made by Rajesh Kumar Yadav from northern region, Sachin Singh and Apeksha Boricha from western region, David Aaron from eastern region, and Sri Kishen from southern region.

The treasurer and PRO reports were shared by Arun Baidya and Shaunak Vengurlekar respectively, and a speech on current trends was given by George Kuruvilla, general manager, The Oberoi Grand, Kolkata. A brand presentation on social media was conducted by James Ridenour who urged for maximum participation in the communications committee.

The new executive committee for the period 2015-2017 was also announced during the AGM.

The AGM continued with the opening of networking eve by Samrat Dutta, general manager, Taj Bengal Kolkata.

During the pinning ceremony 32 new members received adherent membership to Les Clefs d’Or India and 36 adherent members were upgraded to full membership status.

The UICH Honorary Member was awarded to Biswajit Chakraborty, general manager, Sofitel BKC, Mumbai for his contribution and support extended to the concierge society in India.

This was followed by the Concierge of the Year 2015 award which was given to Debayan Ghosh from Shangri-La, Bengaluru.

source: http://www.financialexpress.com / Home> Food & Hospitality World / by FWH Staff – Mumbai / August 18th, 2015

Dare to dream and dream big

Sanjiv Goenka, chairman of RP-Sanjiv Goenka Group, speaks to youngsters at the Yi-India@75-CII Confab
Sanjiv Goenka, chairman of RP-Sanjiv Goenka Group, speaks to youngsters at the Yi-India@75-CII Confab

Sanjiv Goenka, chairman of RP-Sanjiv Goenka Group and a former president of the Confederation of Indian Industry (CII), urged the youth to dare and dream big at an interactive session at Yi-India@75-CII Confab, The Importance of Youth Entrepreneurship in Shaping India’s Economy, in association with The Telegraph.

Edited excerpts from his speech.

Entrepreneurship

It is not the preserve of people who have capital. Today’s technology, today’s venture capital funding… just make sure if you have a good idea, if you are organised, you will get capital.

All you need to do is believe in yourself, believe in your idea, dare to dream and dream big, don’t dream small. And if you do that…. I think there’s no stopping you.

Entrepreneurship is about trying something interesting, innovative and succeeding in it. Whoever would have thought, 10 years ago, that Anjan Chatterjee (of Mainland China) would have a valuation of Rs 1,000 crore ….

Look at Anamika Khanna… today she does profits of Rs 50 crore…. Look at Sabyasachi Mukherjee, he does profits of Rs 50-60 crore…. But 10 years ago they didn’t have that much capital. So it’s possible.

The youth

I think the great difference between us and the next generation is impatience. You can call it speed. You can call it a very quick desire to succeed. There is a kind of confidence, which stems from knowledge that you all have, access to knowledge that you all have, which borders on arrogance. You have minds that challenge convention, that challenge routine. You are not scared of the unknown. You are not scared of an unpleasant answer. You have minds that dare to dream and that has the confidence to succeed.

When I interacted with students at IIT Kharagpur… when I interact with students at IMI (International Management Institute), I actually feel a sense of great pride, a sense of great optimism, because the minds are so sharp.

And I think we as elders have the responsibility to give you the freedom of operation, freedom to think, freedom to actually just go out and perform without being bound by convention, rules or regulation.

If you are scared of making wrong decisions, you will not land up making decisions. Out of 10, if you get 6 right, you’ve done very well. I mean 6:4… 6 right, 4 wrong is a fantastic ratio.

First day at CESC

When you are 27 you are somewhat stupid… not in this generation, but in our generation certainly. It was this whole thing of wanting to prove to myself that I can turn a city that is notorious for power cuts into a city that doesn’t have power cuts. I believed I could do it.

It took me longer than I thought… but I must tell you when I entered the CESC office the first day…. At the building’s entrance, the workers had built a funeral pyre. They had an effigy… they kept saying ‘Sanjiv Goenka murdabad’.

When I entered the office, they lit the funeral pyre. So that was my baptism…. It was horrific to say the least. I was viewed with suspicion. I was viewed as somebody who was a rich man’s son and therefore an upstart. I was greeted with hostility.

I must confess I got fazed; I didn’t let anyone realise it, excepting my wife…. The fact that today Calcutta is free of loadshedding gives me the greatest amount of satisfaction. And I think somewhere up there, my father must be pleased.

Renewable energy

When you look at solar or wind (energy), you are not dependent on anyone to supply you fuel. Today, coal is one of the most precious things and it’s an expensive thing and thereby it means that the power that you generate from coal will be expensive.

Technology is bringing down costs…. Give it another couple of years and costs will go down further. I think that’s the stage when solar and wind (energy) will take off in a big way….

The challenge there will be land…. With the new land acquisition bill, as it is proposed, it’s going to be difficult or almost impossible to get land; and if you don’t get land, solar (energy) will certainly become out of the question.

Music World was set up for a purpose and I can’t afford carrying on businesses that make losses. Nobody buys physical CDs, and cassettes and DVDs anymore…. It’s not what one can afford to do; it’s about what is sensible to be done.

source: http://www.telegraphindia.com / The Telegraph, Calcutta,India / Front Page> Calcutta> Story / by A Staff Reporter / Monday – August 17th, 2015

Joynagarer Moya wins G I tag

Kolkata :

Here’s a first from the world of Bengali sweets. Our very indigenous Joynagarer Moya, sweet roundels made of a special kind of puffed rice and bound with jaggery, has won the coveted G I (geographical indication) tag.

While the decision was firming up since April, the state government, which has been championing the cause of the moya, has just been intimated about the crown. Naturally, the moya makers of South 24 Parganas Joynagar, are rejoicing. This authentication tag attaches great prestige to the special sweet with a very short life that makes its annual appearance only in winter.

Joynagarer Moya had to go through a stringent test and documentation process for two and a half years before finally wresting the crown from the G I scientists in Chennai, who work as a wing of the ministry of commerce and industries. The state department of science and technology, which had applied for the G I tag is now enthused about winning the tag for its other two applications – Mihidana and Sitabhog of Burdwan, which are presently being evaluated for a final declaration towards the later part of the month. A GI tag is a name or sign used on certain products which corresponds to a specific geographical location or origin.

India as a member of the WTO enacted the GI Act in 1999, which came into effect in September 2003. The GI tag ensures that none other than those registered as authorised users (or at least those residing inside the geographic territory) are allowed to use the popular product name. Darjeeling tea became the first GI tagged product in India. The Joynagarer moya was invented in 1929 by two confectioners of Bahura and Charan near Joynagar – Purna Chandra Ghosh and Nitya Gopal Sarkar who sold their creation at their Sri Krishna Mistanna Bhandar. The secret lay in the use of kanakchur rice, which is a special variety of winter rice grown locally.

This rice has a distinct aroma that is heightened when this rice is puffed up. Special gawa ghee and nolen gur, also collected fresh locally, are then used to bind the khoi (puffed rice) into a moya. Kanakchur rice cannot withstand chemical fertilizers. “Initially the Joynagar moya makers, threatened by the plethora of fake and cheaper varieties that flood the market in winter, tried to apply for the G I status on their own but faced several hurdles. So they approached the state government for help.We documented the regional history, lore, ingredients, authentic recipe, the formulae used by the inventors and the list of makers at Joynagar who still follow the original process. The G I scientists inquired and tested random samples for consecutive years before agreeing to give the Joynagar er moya the coveted GI tag,””said Mahua Hom Chowdhury, scientist of the Patent Information Centre of the WB State Council of Science and Technology, which is a wing of the state’s department of science and technology.

A total of 150 moya shops have been included in the G I tag as the only authentic makers. It implies that the rest of the shops across the state who will still sell the moya are selling fake stuff. It was after submitting the application for Joynagarer Moya that the state government received appeals from the makers of sitabhog and mihidana of Burdwan too. “Our scientists actually camped in Burdwan for months and along with officials of the district administration, prepared separate dossiers for both mihidana and sitabhog. We were stunned by the details,” said an excited state minister for science and technology, Rabiranjan Chatterjee. He was found basking in the glory of the Joynagarer Moya. “This is our first sweet GI. We have also received GI for three Bengal varieties of mangoes – fazli, himsagar and lakshman bhog,” he said.

The document prepared for mihidana and Sitabhog and submitted to the GI office says that On February 10, 1904, Viceroy Lord Curzon visited Burdwan to confer the title of maharaja on then king of Burdwan Vijaychanda. Bhairav Chandra Nag, a local sweet-maker, had made the sitabhog and mihidana to mark the occasion. Mihidana is made from Kaminibhog, Gobindabhog or Basmati rice.

The rice is mixed with besan and saffron and blended. The mix is poured into hot ghee through a brass ladle with holes. The deep-fried saffron grains are then dunked in sugar syrup. Sitabhog on the other hand is, cottage cheese or chhana and powdered rice rolled into a dough. It is broken into tiny bits and fried in ghee, then soaked in sugar syrup.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Kolkata / by Jhimli Mukherjee Pandey, TNN / August 11th, 2015

Shy boy to tech showstopper – ‘Sundi’ who sang Anjali

Sundar Pichai, the toast of the technology world, learnt his engineering 110km from Calcutta two decades ago.

In the records of IIT Kharagpur, P. Sundararajan was the topper in metallurgy and material science in the Class of 1993. Outside the classroom, he was known as the ” chhupa rustam” who had wooed and won his life partner from the chemical engineering class without any of his hostel mates getting a whiff of it.

Metro spoke to some of the new Google CEO’s old friends and teachers to get an insight into the man that holds that brilliant mind.

Sourav Mukherji, dean of academic programmes at IIM Bangalore; studied civil engineering at IIT-K and shared the Nehru Hall with Pichai

The world may be hailing Sundar Pichai but to us in Kharagpur, he was Sundi. And he would sing ” Anjali Anjali, pyari Anjali ” all the time.

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We would often hear Sundi hum the lines from the title song of a popular film of our time: Anjali (1990). He loved music and we all thought he sang the song because he liked it. It was much later, after we left Kharagpur, that we realised why he loved this particular song.

It was probably meant for Anjali, the girl from chemical engineering who would become his wife. We all knew Anjali and Sundi knew each other but we never came to know of their relationship in our four years on the campus. It was ‘surprise-surprise’ when we came to know that Sundi and Anjali were seeing each other.

He was a brilliant guy. In fact, a lot of people in the IITs are brilliant. But Sundi was absolutely brilliant. He was the topper in most exams when we were students at IIT. But nobody would call him bookish.

I feel that this (Pichai’s elevation at Google) is a moment of great joy and pride for us as Indians because two of the world’s most powerful IT companies now have Indians as their CEOs (Satya Nadella is the CEO of Microsoft). These gentlemen have truly been able to break the so-called glass ceiling. Twenty years ago, who would have thought that Indians would head powerful American companies, especially companies at the forefront of technology?

Sanat Kumar Roy, professor metallurgy and material science, who taught Pichai

At IIT Kharagpur, we all knew him as P. Sundararajan and it was only in 2012 that we came to know his new name: Sundar Pichai.

It was December 2012 when we got a call from the Wall Street Journal, informing us that Sundar Pichai, an alumnus of our institute, had been appointed vice-president of Google. The journalist wanted details about him.

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We checked our records but couldn’t trace anyone by that name. Later, the journalist gave us a clue: that he had been a recipient of a silver medal. That helped us track P. Sundararajan. Later, we contacted our alumni office in the US to check whether P. Sundararajan and Sundar Pichai were the same person and finally it was they who confirmed it.

I had taught him in all the four years he studied metallurgy and material science here. I found him exceptionally bright.

The IIT selected him for its Distinguished Alumni award this year and he was supposed to receive the honour at the annual convocation that was held recently. He couldn’t attend the event this time but he has promised to visit the institute when he comes to India next.

Phani Bhushan, co-founder of Anant Computing and Pichai’s batchmate and co-boarder at Nehru Hall, where he had stayed at “CTM” (that’s section C, top floor, middle wing)

Sundararajan was a shy person who was more comfortable in small groups, and now he is making speeches and heading a global conglomerate like Google. It is like he has had a personality U-turn.

We are super excited that our batchmate and hall mate has achieved such a feat, although it isn’t as surprising as the news that he married a fellow KGPian, Anjali!

We hall mates and batch mates tend to spend a lot of time together and we thought he was shy about talking to girls. But he turned out to be a chhupa rustam! We wonder how he managed to have a girlfriend without us knowing about it.

Partha Pratim Chakrabarti, director, IIT-KGP

We are all delighted that a student from Kharagpur has achieved this. Sundar Pichai was always a very quiet and studious person. I never taught him but have interacted with him several times. He recently did a video chat with an auditorium full of students who talked to him about everything from life to technology and leadership.

He hasn’t made any public statement as yet. That’s the kind of person he is. He likes to do his work. Sundar has proved that technological leadership can lead to global leadership and has given aspiration to a new generation of IITKgpians that you can achieve global leadership through technological leadership.

He is a quiet worker, a technical wizard, a great thinker and visionary who is also an extremely humble person, quite in sync with his alma mater IIT Kharagpur. He is an Indian who is a global leader and epitomises future generations of Indians.

source: http://www.telegraphindia.com / The Telegraph, Calcutta,India / Front Page> Calcutta> Story / Wednesday – August 12th, 2015

Musicians to accompany Mamata on London trip

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More than 40 industrialists and nearly 20 media personnel are also accompanying the Chief Minister.

Ten musicians and an actor-cum-MP are accompanying West Bengal Chief Minister Mamata Banerjee on her maiden London trip to attract investment. The list includes vocalist Rashid Khan, harmonium maestro Jyoti Goho, tabla exponent Bickram Ghosh and actor-politician Deepak Adhikari (Dev).

More than 40 industrialists and nearly 20 media personnel are also accompanying the Chief Minister. While the industrialists and the media personnel are paying for their travel and stay, the musicians are going as State guests with the government footing their bills. West Bengal has a debt burden of over Rs 2.5 lakh crore making it one of the most cash-strapped States.

Ms. Banerjee will leave for London on Sunday for five days. During her stay, she will attend several meetings, including one with the Minister of State for Employment, Priti Patel. Dozens of Memoranda of Understanding (MoUs) are expected to be signed between the British departments and the West Bengal government in the fields of health, urban planning, transportation, exploration of natural resources, education and trade.

However, the inclusion of actor-MP Deepak Adhikari (Dev) and musicians in the delegation has not gone down well with many. The Ministers usually do not fly artistes to another country to perform, unless there is a particular reason to do so.

Only one event
The musicians will perform for about an hour at the British Historical Museum on July 28. “It will be an opportunity for cultural exchange showcase Bengal’s vibrant culture. It will be the only cultural event during the tour,” said harmonium maestro Jyoti Goho.

Criticising the government’s decision to host so many musicians for an hour-long programme, Left Front chairperson Biman Bose said the Chief Minister’s team would not be able to attract any investment. “It is not clear from the composition of the delegation, if she is going to London for investments or for other reasons. Among the artistes in her delegation, many have already been to London. But for those who have not been there yet, this is an opportunity,” Mr. Bose said.

Reception
The Chief Minister is accompanied by a host of politicians and bureaucrats who will interact with their British counterparts.

The Duke of York, Prince Andrew, will host a reception in her honour.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kolkata / by Kolkata Bureau / Kolkata – July 24th, 2015

Mamata Banerjee Flags Off Kolkata-Dhaka-Agartala Bus Service

The first Kolkata-Dhaka-Agartala bus enters Agartala from Bangladesh through Akhaura integrated checkpost during a trial run on 2 June, 2015.IANS
The first Kolkata-Dhaka-Agartala bus enters Agartala from Bangladesh through Akhaura integrated checkpost during a trial run on 2 June, 2015.IANS

Flagging off the Kolkata-Dhaka-Agartala bus service here on Thursday, West Bengal Chief Minister Mamata Banerjee said the initiative will turn the India-Bangladesh ties into an everlasting relationship.

“The launching of this service makes this day forever memorable and historically significant for both the countries,” Banerjee said at the flagging off event at the state secretariat, Nabanna, in Kolkata’s neighbouring Howrah district.

“This service will bring both India and Bangladesh closer and turn our cordial ties into an everlasting relationship,” she added.

The cross-border bus service was approved at a recent meeting between Bangladesh Road Transport Minister Obaidul Quader and his Indian counterpart Nitin Gadkari in New Delhi.

The bus service will facilitate visiting mainland Indian states for people of the mountainous northeastern region, reducing the distance by over 1,000 km.

Agartala via Guwahati is 1,650 km from Kolkata by road, but the distance between the tripura capital and the West Bengal capital via Bangladesh is only around 500 km.

Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina are scheduled to flag off the Agartala-Kolkata direct bus service in Dhaka on June 6.

source: http://www.ibtimes.co.in / International Business Times / Home> News> Society / by IANS / June 04th, 2015

Bandhan to start Banking Operations from Aug 23

Micro-finance institution Bandhan Financial Services, which got the final license from Reserve Bank of India to start universal banking, would formally start operations as a banker from August 23.

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“We will start banking operations under Bandhan Bank from August 23 with the inauguration of 600 branches in 27 states across the country along with 250 on-site ATMs,” Bandhan chairman Chandra Sekhar Ghosh told PTI.

He said 247 branches would be opened in West Bengal, while Bihar, Orissa and Assam would also have a good share in terms of the number of branches.

Ghosh said 65 per cent of the branches would be rural, while the rest 35 per cent would be opened in urban areas.

The logo for Bandhan Bank has been designed by advertising agency O&M, Ghosh said adding that all the branches would be on core banking platform.

Bandhan is also in the process of obtaining separate RBI licenses for RTGS, NEFT, payments gateways and CTS, he said.

Ghosh said all the necessary hardware and software are in place to start the operations.

The MFI had got the in-principle license from RBI to start universal banking in April 2014 within 18 months time.

Along with Bandhan, IDFC had also got the same in-principle approval from RBI for starting universal banking operations.

With IFC, GIC Singapore and SIDBI as equity investors, Bandhan Bank would start operations with a capital base of Rs 2,616 crore.

source: http://www.dailypioneer.com / The Pioneer / Home> Banking & Finance / PTI / Kolkata – Sunday, June 05th, 2015

Introduction of fair price medicine shop in West Bengal receives international attention

Kolkata :

The introduction of fair price medicine shops and diagnostic centers in West Bengal has attracted international attention.

Chief minister Mamata Banerjee on Friday posted on her facebook page that a research study on the issue has been selected for discussion at the 11th World Congress of International Health Economics Association that will be held at Italy’s Milan during July 12 to July 15. “Our Fair Price Medicine Shops and Diagnostic Centres in Government Hospitals continue to receive more and more international attention and acclaim. A research study conducted on this innovative intervention of our Government to reduce out of pocket expenses of patient parties has been selected for presentation in the 11th World Congress of International Health Economics Association to be held at Milan, Italy during 12-15th July, 2015,” the CM posted on facebook.

“Already, 99 Fair Price Medicine Shops have been opened in just 4 years providing medicines at 48 to 77.2% discount. More than Rs.440 crore discount has been availed of by 157 lakh patients so far. It has been declared Model for the country. Moreover, 58 Fair Price Diagnostic Centres have been set up in just 4 years offering digital X-ray, dialysis, CT Scan and MRI at very affordable price,” the CM further posted on her facebook page.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Kolkata / by Suman Chakraborti, TNN / June 26th, 2015

China to supply 14 trains to Kolkata subway

China will supply 14 subway trains with 112 carriages to Kolkata city, the biggest such contract for a Chinese company in South Asia.

China Railway Rolling Stock Corp Ltd (CRRC) will provide 14 subway trains with 112 carriages in total to Kolkata, CRRC said in a statement, state-run China Daily reported.

This is the first overseas order that CRRC has received after merger of China’s state-owned train manufacturing firms – China North Railway (CNR) and China South Railway (CSR) this month.

The Kolkata order was secured by CNRC subsidiary company – CNR Dalian Locomotive and Rolling Stock Company in February.

The value of the order has not been mentioned.
As the third-biggest city in India, Kolkata will replace the old trains that have been running for over 30 years in its south-north subway line which reaches a length of 23.45 km in order to ease the transportation pressure, the Daily reported.

According to the company, this is the first time that CNR Dalian has entered the market of South Asia.

CRRC started trading on the Shanghai and Hong Kong bourses on Monday, becoming the world’s biggest rail conglomerate in terms of market value and sales.

The Kolkata order came ahead of the visit of a high power delegation from West Bengal headed by Finance Minister Amit Mitra here to explore investment opportunities for his state.

Indian officials said the delegation will meet Chinese investors to showcase investment opportunities in the state.

Chief Ministers of several Indian states including Andhra Pradesh, Gujarat, Maharashtra and Karnataka have visited China to woo Chinese investments.

The two countries have also launched India-China Forum for State and Provincial Leaders during the last month’s visit of Prime Minister Narendra Modi to China to facilitate direct interaction between Indian states and Chinese provinces.

The order came as China is trying to make all out efforts to bid for high speed bullet trains against stiff competition from Japan.

China, which has built 40 bullet train lines with 16,000 kms of tracks in most part of the country, is currently conducting a feasibility study for the over 2,000-km New Delhi-Chennai high speed line while Japan is conducting a similar study for Mumbai-Ahmedabad route.

India has stepped up cooperation with China to modernise its railways with agreements in a number of area including speed raising of the tracks (Chennai-Mysore sector via Bangalore), training of 100 railway personnel in heavy haulage, setting up of railway university and modernisation of railway stations in Bangalore and Bhubaneshwar.

source: http://www.deccanherald.com / Deccan Herald / Home> National / PTI / Beijing – July 10th, 2015

Sarala Birla passes away

Sarala Birla, wife of industrialist Basant Kumar Birla passed away on Saturday in Delhi.

She was 91 and is survived by her husband and two daughters — Manjushree and Jayashree.

Birla group sources said that the death came unexpectedly.

Born on November 23, 1924 in Rajasthan, Sarala played an active role in the expansion of the Birla empire as her husband Basant Kumar Birla stepped into new areas that shaped the course of Indian business.

“In the Birla household where enterprise, culture and convention went side by side, Sarala stepped out of her role as an exclusive home-maker to carve a niche of her own in the spheres of education, art, culture and philanthropy.

In partnership with her husband, she laid the foundation of some 45 educational institutions including the Birla Institute of Technology & Science.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kolkata / by Special Correspondent / Kolkata – March 29th, 2015