Category Archives: Business & Economy

US diplomat to meet Mamata

USDiplomatKOLKATA15aug2014

US charge d’affaires ambassador Kathleen Stephens (centre) spent an hour on Wednesday at CINI, the Child In Need Institute’s short-stay home on Rafi Ahmed Kidwai Road.

She discussed child and maternal health care with CINI officials before interacting with children at the home. The kids, aged between six and 14, greeted her with a garland and danced to the song Dhaaker taaley from the film Poran Jai Jolia Re. Stephens handed each child a little brooch with the Indian flag on it.

In the afternoon, Stephens visited Presidency University and met vice-chancellor Anuradha Lohia. Stephens interacted with teachers and students on a host of issues, including exchange of teachers and students and research collaboration between Presidency and US universities. She spent close to an hour browsing through the galleries and artefacts at Victoria Memorial. Picture by Pradip Sanyal

Calcutta :

US charge d’affaires ambassador Kathleen Stephens is scheduled to meet chief minister Mamata Banerjee at 4pm tomorrow at Nabanna, sources in the state secretariat said this evening.

A charge d’affaires is a diplomatic secretary or a counsellor or a minister who heads a mission in the absence of its titular head.

“I am here to take Indo-US relations to a new level,” said Stephens, who took charge in early July.

If the meeting is held according to schedule, it will be Mamata’s first such session with a visiting foreign diplomat since she met Nancy Powell, the then US ambassador, in May 2013.

Powell, who had tried to “change the chief minister’s mind on FDI in retail” during that meeting, did not get an audience with Mamata during her next visit to Calcutta in February this year.

Sources in the US consulate had described Powell’s failure to meet Mamata as a “disappointment”. The then US ambassador to India had met then Gujarat chief minister Narendra Modi before her Calcutta visit.

Asked about her chances of meeting the chief minister, Stephens, who interacted with a select group of journalists this evening, said: “I have a good schedule tomorrow.”

The fact that Stephens and other officials of the US consulate were guarded about the prospect of the meeting was an indication that they did not want to make any announcements before the session.

“One cannot rule out the possibility of the meeting being cancelled at the last minute,” a Nabanna source said.

Unlike her predecessor Buddhadeb Bhattacharjee, who used to meet visiting diplomats or delegate the responsibility to senior ministers, Mamata has not shown much eagerness in engaging with foreign envoys.

The Nabanna sources said they received requests from visiting diplomats, seeking appointments with Mamata. But on most occasions, they do not get an audience with the chief minister or any of her senior colleagues, the sources said.

The approach has, however, been different in case of engagements with the US. Then secretary of state Hillary Clinton had come to Calcutta in May 2012 to meet the chief minister.

Although the Hillary-Mamata meeting had gone off well, there was a controversy later over whether they had discussed FDI in retail.

“A statement released by the US consulate had said the issue had been touched upon. But the way the state government reacted, with finance minister Amit Mitra calling up the US consul-general, did not go down well with the American establishment,” said a source close to the consulate.

Although Mamata had met Powell after that, the vibes were “not as warm as before”, the source said.

If Mamata finally meets Stephens, it will send a positive message to the US establishment.

“The chances of a meeting seem brighter this time as the chief minister is unlikely to miss the opportunity to tell the visiting diplomat that she is leaving for Singapore later this week to scout for investment,” a source said.

source: http://www.telegraphindia.com / The Telegraph, Calcutta / Front Page> Bengal > Story / by Our Correspondent / Thursday – August 14th, 2014

Award

Calcutta :

West Bengal State Electricity Distribution Company Ltd was given the IPPAI Power Awards 2014 on August 2 at a programme in Goa.

The award was given by the Independent Power Producers’ Association of India (IPPAI) in association with Delloitte, a consultancy firm.

source: http://www.telegraphindia.com / The Telegraph, Calcutta / Front Page> Calcutta> Story / Wednesday – August 06th, 2014

West Bengal secures top position in developing micro and small scale industries

Kolkata :

West Bengal has now secured first position in the field of micro, small and medium enterprises (MSME) sector, posted Bengal chief minister Mamata Banerjee on her Facebook page. “Our Micro, Small and Medium Enterprises (MSME) Sector is now No. 1 in the country with more than 35,000 new units having been set up with employment of nearly 3.20 lakh people and highest credit disbursement worth Rs.35,000 Crores over the last three years in the state,” the CM posted.

“We have been organizing SYNERGY since September, 2013 to provide more customized solutions to the MSME entrepreneurs t hrough hand holding support and personalized guidance. Nearly 40,000 entrepreneurs visited the clinics, help desks and technology pavilions and bank loan worth hundreds of crores were sanctioned to nearly 1800 enterprises in this first-ever state level conclave,” the CM posted.

“In 2014 we adopted the strategy of taking Synergy closer to the field level and accordingly we organized the first regional Synergy at Siliguri in February this year. The second regional Synergy was held at Howrah on 1-2 August, 2014. Loans worth Rs 1000 Crore were sanctioned and investment proposals close to Rs 5000 Crore were received in the Synergy at Howrah,” the chief minister further posted on her facebook page.

The state government is working on developing more and more MSME clusters in the state so that entrepreneurs, specially women and self help groups can come up with their handicrafts items.

Our Micro, Small and Medium Enterprises (MSME) Sector is now No. 1 in the country with more than 35,000 new units having been set up with employment of nearly 3 lakh 20 thousand people and highest credit disbursement worth Rs.35,000 Crores over the last three years in the state.

We have been organizing SYNERGY since September, 2013 to provide more customized solutions to the MSME entrepreneurs t hrough hand holding support and personalized guidance. Nearly 40,000 entrepreneurs visited the clinics, help desks and technology pavilions and bank loan worth hundreds of crores were sanctioned to nearly 1800 enterprises in this first-ever state level conclave.

In 2014 we adopted the strategy of taking Synergy closer to the field level and accordingly we organized the first regional Synergy at Siliguri in February this year. The second regional Synergy was held at Howrah on 1-2 August, 2014. Loans worth Rs 1000 Crore were sanctioned and investment proposals close to Rs 5000 Crore were received in the Synergy at Howrah.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Kolkota / Suman Chakraborti, TNN / August 05th, 2014

Top Gear’s ‘best taxi in the world’ to cease production

AmbassadorKOLKATA03aug2014

Originally based on the Morris Oxford, the Ambassador has been manufactured by Hindustan Motors in India since 1948.

The car manufactuer has announced that it will suspend production at its plant in West Bengal. Few see it returning to Indian roads, as more efficient, modern cars have taken over the market.

This car ruled Indian roads for the first 40 years, becoming a symbol of power and influence. By the end of the 1970s, it had a market share of 75 percent.

The entry of Suzuki though a local joint venture with Maruti, changed all that and by 1992, Ambassador’s share dropped to 20 percent.

Lack of investment, a militant workforce, an ageing plant and lack of interest and vision by the owners are cited as resons for the demise of this car.

In teh 1990s, Hindustan Modors enterd into a joint venture withGeneral Motors to manufacture and sell Opel vehicles. There was also a collaboration with Mitsubishi Motors to manufacture the Lancer. But none of these ventures took hold.

In a statement, Hindustan Motors blamed the shutdown on “worsening conditions at its Uttarpara plant which include very low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product the Ambassador and large accumulation of liabilities”.

Only 2,200 Ambassadors were sold in 2013-14; a small fraction of the 1.8 million passenger cars sold in India.

In a show, which was aired on the BBC last year, Top Gear organized a world taxi shootout in which Ambassador emerged a winner, beating competitors from all over the globe.

The Top Gear team’s verdict? “If performance is getting to your destination at some point of time, yeah, this is quite a performer.”

As reported in The Economic Times, Nida Najar notes: “Drivers complain that pedals break off after a few thousand miles, that the air-conditioners malfunction. Some use turmeric to stop up holes in the radiator; anything to avoid servicing with expensive and increasingly rare parts. Many carry water bottles to cool off radiators that frequently overheat.”

source: http://www.ferret.com.au / Ferret / Home / by Kevin Gomez / July 03rd, 2014

The Lede – Big Wigs

The unsung wig makers of Bollywood

S Kabir created hairpieces for many major stars, including Amitabh Bachchan in the 1988 action film Shahenshah  /  S Kabir - Siraj Sheikh
S Kabir created hairpieces for many major stars, including Amitabh Bachchan in the 1988 action film Shahenshah / S Kabir – Siraj Sheikh

SURENDRA’S NATURAL HAIR STUDIO isn’t easy to find. But for the wigged wooden heads marking the entrance, this workshop in a grimy alley off Mumbai’s SV Road looks just like any other. Inside, however, it becomes clear that the studio belongs to one of Hindi cinema’s most sought-after wig makers, Surendra Salvi. The foyer walls are lined with photos of Salvi with actors—everyone from Salman Khan to Prem Chopra—sporting his toupees, beards and moustaches.

Salvi ushered me into a workshop where five uniformed employees created mesh bases for new wigs, and wove hairpieces and hair extensions. Almost all of Salvi’s wigs are made of natural hair, but he uses various amounts of synthetic material for those on tight budgets. “Natural hair is expensive,” he explained. Even-length, pre-sorted hair can cost up to Rs 70,000 per kilogram.

Salvi, a Mumbai native, told me he always wanted to be part of the film industry, though it took some time to break into the business. “First I did clerical work,” he said, “then I fitted car lamps for an auto company. Then I worked in a talcum powder factory. Then I had enough.” In the early 1980s, he started assisting the makeup duo of brothers Anil and Pradeep Pemgirikar by making wigs and beards for extras and body doubles. Over the following decades, he made it big on his own. His hairpieces have been used by Boman Irani in 3 Idiots, Shahrukh Khan in Ra.One, Akshay Kumar in Action Replayy, and many other superstars. When I visited two months ago, Salvi was fashioning wigs for director Anurag Kashyap’s upcoming Bombay Velvet. He also does work for regional films, television commercials, and individual clients.

Pradeep Pemgirikar, Salvi’s mentor, oversaw makeup, wigs and prosthetics for the films of director Manmohan Desai in the 1980s. He now runs Mod Wig Centre from his humble three-room house in Dadar, taking whatever work he gets from the Marathi and south Indian film industries. Pemgirikar, who said his best work was on the 1992 film Khuda Gawah, rued changing trends in the movie business. “Everyone wants a natural look now,” he said, “but in those days, every third character in a Manmohan Desai film had a wig.”

If the 1980s and 1990s had the Pemgirikars, the 1960s and 1970s—when bouffants, pompadours and beehives were all the rage—had S Kabir and Victor Pereira. Kabir came to Mumbai from Kolkata in the 1950s to assist his older brother S Amin, who was then already a makeup man and wig maker of repute. Kabir worked with almost all the leading men of the time, his son Siraj told me, and made wigs for such classics as China Town, Mirza Ghalib, Aandhi, Padosan, Sholay, Shahenshah and Kalicharan. But his most illustrious client was Pran, whose memorable get-ups from Upkar and Zanjeer to Amar Akbar Anthony and Don cemented his reputation as one of Hindi cinema’s greatest character actors.

Kabir passed away in 1994. Siraj is keen to keep his father’s legacy alive, and, with his brother Farooque, now runs the wig studio S Kabir & Sons, established by Kabir in the late 1950s, in Andheri East. “Wig making is an art, but it never gets the respect it deserves,” he said. “Even personal drivers and spot boys who serve chai to actors get mentioned in film credits. We often don’t.” An online search showed S Kabir credited for his work on only three movies, though Siraj claimed he actually worked on between seven and eight hundred films. Siraj also lamented the end of the era when prevailing fashions meant greater demand and profits, and more time to craft great wigs. He remembered being called on to make a hairpiece for Amitabh Bachchan several years ago. “They wanted it in three days,” he scoffed. “Is three days enough time to make a wig?” Sorting hair bought from wholesalers is a gruelling process, and the average wig requires at least five to seven days of work.

Victor Pereira, S Kabir’s contemporary, now lives in Mangalore, near his home town of Moodabidri. Although no longer associated with the film industry, he was happy to talk about his glory days over the phone. Having learned his trade in Mumbai from S Amin, Kabir’s brother, Pereira got his break on the 1969 film The Killers, starring Dara Singh and Helen. Although the film was a dud, he went on to craft all of Helen’s wigs from then on, putting his stamp on her looks in song videos such as ‘Piya tu ab toh aaja’ and ‘Mehbooba mehbooba,’ and films such as The Train and Don. Victor also worked, among others, with Hema Malini, Vyjayanthimala, Sharmila Tagore, Mala Sinha and Rekha. His most challenging project, he said, was director Kamal Amrohi’s 1983 release Razia Sultan. “Kamal Amrohi was such a stickler. Woh ek ek baal dekhte the (He used to check each strand of hair). He told me, ‘Hema Malini rani hai (Hema Malini is a queen). I want the best. Nothing else will do.’”

source: http://www.caravanmagazine.in / The Caravan / Home> Reporting & Essays / The Lede / by Roshini Nair / July 01st, 2014

Bengal to house hub for start-ups

StarupsKOLKATA19jul2014

Calcutta :

The Bengal government will allot 10,000 square feet of built-up space in Salt Lake’s Sector V to Nasscom for setting up its first incubation centre in the eastern region.

The announcement was made by state information technology minister Amit Mitra at the eastern edition of the Nasscom Product Conclave here today.

The prospective hub, which will be aimed at mentoring start-up companies and fuelling entrepreneurship for product development, is expected to take shape within 3-6 months. It will require a strong infrastructure back-up and is likely to draw venture capital funds, seed funds and top names of the industry as mentors into the state.

The development comes at a time Bengal is battling the scathing aftermath of Infosys’s decision to put their maiden campus project on hold here. Incidentally, software behemoth Microsoft India is in the final stages of setting up a research and innovation centre in Sector V to impart its expertise in IT skill training.

Nasscom already has such as facility in Karnataka, which is supported by the state government. It houses around 15 start-up companies. The proposed facility in Calcutta will have the requisite plug-and-play facilities. A board comprising Nasscom members and government representatives will initiate a selection process based on merit.

“As we move towards an era where the dividing line between products and services gets blurred, this is a particularly important area. This is a very different ecosystem from the traditional industry and need a different kind of support. At the heart lies the entrepreneur who is young, capable and talented but do not necessarily have deep pockets or experience of what is required to run a business,” Nasscom president R. Chandrashekhar said.

The turnover of the Indian IT industry is slated to grow to $300 billion by 2020 from about $118 billion now. Of this, as much as $100 billion is likely to come from the product start-up ecosystem. At present, the product sector is estimated at $2.2 billion.

“We are looking at entrepreneurial development. We accept the offer. We will give 10,000 square feet ready to start with. We are also building 13 IT parks. We would like to request Nasscom to help us bring IT companies into these IT parks. We want you to promote it for us,” Mitra said at the conclave.

source: http://www.telegraphindia.com / The Telegraph, Calcutta / Home> Front Page> Business> Story / by Staff Reporter / Calcutta, Saturday – July 19th, 2014

Sunny days ahead for local shoe units

Kolkata :

Eid celebrations arrived early this year in the lanes and bylanes of Topsia, Talbagan, Rippon Street, Tantibagan and Batanagar with Arun Jaitley’s Budget raising hopes of more orders from local footwear firms, and hence, the prospect of more jobs.

In the Budget, excise duty on leather footwear priced between Rs 500 and Rs 1,000 has been slashed to 6% from 12%. This will essentially mean a Rs 30-60 reduction in price of a pair of shoes. While the price cut may appear meager, industry sources said it is crucial for survival as the local small-scale footwear industry had to compete with cheap imports from China.

“The Budget brought good news for small units that supply to individual stores like ours or bigger regional brands like Khadims or Sreeleathers. As sales increase, it will mean more orders for local makers and that in turn will generate more employment in a job-starved city,” said Park Cobbler proprietor Zafar Ahmed.

While stores have already stocked up for Eid-ul-Fitr shopping to be celebrated at the end of Roza, the concession extended by Jaitley will come in handy for the next season, particularly stocks that are placed before Durga Puja and Diwali.

Sreeleathers chairman SB Dey is certain the footwear market will expand following the duty cut. “We will now be able to do business on a level-playing field,” he said. Around 80% of footwear sold by Sreeleathers has a price tag of Rs 500-1,000.

According to CLC Tanners’ Association president Ramesh Juneja, the state will also benefit as footwear manufacturers increase production capacity to meet the demand. “The added incentive to manufacturing units with investment in excess of Rs 25 crore will spur the regional brands to expand capacity,” he remarked.

SS Kumar of College of Leather Technology said the incentive will particularly benefit the labour-intensive leather goods industry. “PVC goods are manufactured by machines but leather shoes have to be hand-made. So any incentive to the leather industry will mean more employment,” he said.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Kolkata / TNN / July 11th, 2014

Times NIE awards for real achievers

Kolkata :

Children achieve more when they race, not with their peers but with themselves and stay ahead of their aspirations. Keeping this in mind, Times NIE has always opened a whole new world of knowledge for students, where learning is fun and education redefined. And the Time NIE Student of the Year Award 2014 will be held on Saturday to take this philosophy to the next level.

As many as 111 students from schools in and across the city will be felicitated with the Times NIE Student of the Year Award. This includes schools from Durgapur and Siliguri as well.

The awards are being presented jointly by The Times of India and JIS Group Educational Initiatives. It recognizes students whose achievements span academics, sports, conduct, leadership and service to their school and community.

Schools had been requested to nominate one student from Class XII based on criteria that included ‘Academic’ (achieved scholastically across a range of subjects), ‘Attitude’ (willing to help others; makes selfless contributions), ‘Personal Conduct’ (exemplary at all times), ‘Leadership’ (a role model for other students), ‘Service’ (participates fully in school and community activities) and ‘Sports’ (represents the school without necessarily being a champion).

The awards will be presented at a ceremony to be held at Town Hall on Saturday, 12 noon onwards.

A galaxy of personalities will be present to hand over the awards to the winners. Writer Nabaneeta Dev Sen, British Council director (east) Sujata Sen, actor Rituparna Sengupta, fashion designer Agnimitra Paul, painter Wasim Kapoor, percussionist Pandit Tanmoy Bose, cardiologist Kunal Sarkar and lawyer Tamal Mukherjee will hand over the awards.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Kolkata / TNN / July 16th, 2014

“India should invest more in green sector”

Vice president of MCC Chamber of Commerce and Industry Arun Kumar Saraf welcomes Baroness Sandip Verma, U.K. Minister, at an interactive session in Kolkata on Saturday. Rajya Sabha MP Amar Singh looks on. / The Hindu
Vice president of MCC Chamber of Commerce and Industry Arun Kumar Saraf welcomes Baroness Sandip Verma, U.K. Minister, at an interactive session in Kolkata on Saturday. Rajya Sabha MP Amar Singh looks on. / The Hindu

It has a great potential for using its renewable energy resources: U.K. Minister

Stating that India has a huge potential in tapping its renewable energy, U.K. Minister of Department of Energy and Climate Change Baroness Sandip Verma said that India should invest more in green sector.

“Unlike in the U.K., India has a great potential for using its renewable energy resources. While in the U.K., we are still relying on nuclear and coal for our power resources, we are trying to do away with coal. India and the U.K. share a lot of similarities and I think India should consider options of investing in green sector,” Ms. Verma said.

She was participating in an interactive session on ‘India-UK initiatives on climate change’. Vice president of MCC Chamber of Commerce and Industry Arun Kumar Saraf was present.

Observing that India should learn from Bhutan in using clean energy, Amar Singh, Rajya Sabha MP, said there are a lot of untapped clean energy sources in Arunachal Pradesh.

Stressing on the need to uniform rule in banning constructions near river banks, Mr. Singh said after the flash floods in Uttarakhand [June 2013], there was a sweeping ban on constructions along river banks in the State so that future disasters could be avoided. “Why wasn’t there a similar ban in States like Himanchal Pradesh?” Mr. Singh asked.

“There is a huge scope in India and the U.K. to use low-carbon approaches not only to fight climate change but to deliver energy security, economic growth, and inclusive development. Although on a per capita basis, India’s carbon emissions remain a small fraction of those of developed countries, the country’s rapid economic growth has brought with it higher emissions,” Mr. Saraf said.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kolkata / by Staff Reporter / Kolkata – July 06th, 2014

Real estate consortium acquires Keppel Magus

Sureka Group, Merlin Group and JB Group announced that they were taking over the company as well as its project at the satellite township for Rs.150 crore, in an all-cash deal

A consortium of three Kolkata-based real estate groups has acquired 100 per cent stake in Keppel Magus Development Private Limited (KMD), which was implementing a major project in the upcoming township at Rajarhat.

Sureka Group, Merlin Group and JB Group announced on Thursday that in an all-cash deal, they were taking over the company as well as its project at the satellite township for Rs.150 crore. This includes contractor obligations, bank liabilities and unsold apartments at a 25-acre plot at New Town, a satellite township in Rajarhat on the city’s eastern fringes.

The consortium partners have delivered over 20 million sq. ft. of quality development across real estate categories such as residential, commercial and retail, according to a statement.

The consortium has acquired KMD as an “ongoing entity”, and plans to execute remainder of the project besides speeding up the remaining few deliveries from the first phase.

KMD was earlier held by Keppel Land of Singapore, Magus Estates & Hotels Ltd., subsidiary of Asian Hotels (North) Ltd. of the Jatia Group, owner of Hyatt Regency in New Delhi, and Four Season Resorts in Goa and Puravankara Group from Bangalore. After completing Phase-I of the project, Elita Garden Vista, the group decided to divest 100 per cent stake to Sureka, Merlin, JB consortium.

Individually, the consortium partners have projects in Hyderabad, Chennai, Raipur and Ahmedabad.

source: http://www.thehindu.com / The Hindu / Home> Business> Industry / by Special Correspondent / Kolkata – July 03rd, 2014