Category Archives: Business & Economy

Made in Madurai enthralls the city

Business & Economy, Science & Technologies

Madurai :

It will be quite surprising to know that the China Nuclear Corporation is procuring valves from a Madurai-based company and the conveyor belts used in mines across the country are manufactured here. There were many such revelations at ‘Made in Madurai’, the three-day exhibition organised by Madurai District Tiny & Small Scale Industries Association (MADITSSIA) that began on Friday. It is generally assumed that high-end manufacturing in Madurai is negligible and the city’s economy is just about religious tourism. The exhibition is an emphatic announcement that manufacturing is thriving in Madurai and many products manufactured in the city have takers around the globe.

Aruna Alloy Steels Pvt Ltd at the outskirts of the city not only supplies valves made of carbon steel to nuclear plants in China but also supplies stainless steel valves for marine application to European countries including Norway, Germany, the UK. With consistent quality, the international orders were scaling up and the firm is expanding, the company sources said.

Madurai’s journey in manufacturing started in 1889, when Harvey Mills now known as Madura Coats, was set up. In the next few years, 27 more spinning mills came up turning the city into textile hub. Over the years, other industries also came up in the city. Renowned brands like TVS Sri Chakra, Fenner India, Hi-Tech Arai, Thiagaraja Mills, and many brands in food industry like Perry’s biscuits, Sastha oil, Anjali oil, health concerns like AVN Arokya established in Madurai by 1909 and Saibol, the ointment that cures many skin diseases established in 1937, came up. Some of these have carved out a unique name for themselves. For instance, eucalyptus tree in the region is called RS Pathy tree, after the company that started manufacturing medicine from the tree oil in Madurai since 1909.

The 125 stalls in the exhibition is representative of the sectors including engineering & fabrication, press metal components, chemical and allied products, agro products, electrical & electronics, printing & packaging, motor & pumps, paper & paper allied products, auto parts & components, pharmaceuticals, food processing, siddha medicines, granite, textiles & readymade garments, rubber and allied products. “Though many of the trade and industrial ventures were unique to the city in those days, we grew over the period adapting to changing times and technology to spread across the country. Many are not aware that Madurai supplies lot many products nationwide,” V Vinoth of Janatha Syrup company, a leading sarasaparilla (nannari) syrup manufacturer in the city.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Madurai / by J. Arockiaraj, TNN / December 21st, 2013

Cuddalore farmer bags national award for successful country chicken farming

Business & Economy, Green Initiatives/ Environment, Nature

Cuddalore :

A small-time poultry farmer in Cuddalore district was among the first to predict that those investing in finance companies to rear emu birds would be in deep trouble. Having visited an emu farm in a village near Guntur, Andhra Pradesh way back in 1990, Cuddalore-based farmer R Kathamuthu, 45 was convinced that the there was no profit in rearing emus.

He advised several farmers not to invest in emu. A few took him seriously and did not burn their fingers, but the rest suffered huge losses. But, Kathamuthu, who hails from Old Vandipalayam, was selected for an award for the year 2013 for promoting country chicken or ‘naatu kozhi’ in local parlance.

The Chandigarh-based central poultry development organization (CPDO) gave him the national award, recognizing his contribution in the field of ‘desi’ chicken. The CPDO functions under the department of animal husbandry, dairy and fisheries, ministry of agriculture.

Joint secretary (animal husbandry, dairying and fisheries) Sanjay Bose Reddy presented the award to him in the presence of CPDO director K Ravikumar and its Chennai research centre director, P Kanagaraj, at a function on December 12 in Chandigarh. Son of an agricultural coolie S Ramalingam, Kathamuthu was into aqua culture, farming fish and crustaceans, before taking up poultry farming full time. “Aquaculture is a profitable business but very labour-intensive. It is a huge task to maintain the facility,” Kathamuthu said. An article about CPDO’s research centre in Hessaraghatta, Bangalore, in an agriculture magazine, which he came upon accidentally, changed the course of his life. He visited the centre and underwent a week-long training in poultry farming. It was the beginning of a new life for him.

He set up a country chicken farm with an investment of Rs 50,000 in his village in 2000. With tips from the research centre, he developed his farm in a phased manner. His business peaked in the last couple of years, during which he sold more than 2,500 birds every month. The demand for country chicken eggs also soared and he began to sell more than 500 eggs per day at Rs 5 per egg. His clients included hotels from Bangalore, Chennai, Madurai, Trichy and Salem, besides locals. He used to earn more than Rs 1 lakh per month when his business was at a peak.

“The broiler chicken market is volatile. The price of chicken and eggs fluctuate. But there is always great demand for country chicken and eggs,” he said. His wife, K Inbavalli, and his brother-in-law, A Ramadoss, assist him in maintaining the farm. He trains college students and encourages them to set up poultry farms.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City>Chennai> Cuddalore / by Bosco Dominique, TNN / December 17th, 2013

Forum for Dalit Biz-men

Business & Economy

Now, there is a forum for Dalit entrepreneurs, locally! The Tamil Nadu chapter of Dalit Indian Chamber of Commerce and Industry (DICCI) +was launched in the city recently.

Tamil Nadu Minister for Industries P Thangamani inaugurated the forum in the presence of Chennai Mayor Saidai S Duraisamy and other dignitaries.

The forum’s motto is ‘Be job givers and not job seekers!’ Speaking on the occasion, Milind Kamble, national chairman, DICCI said that Tamil Nadu had the largest number of Scheduled Caste entrepreneurs in the country.

DICCI, which is providing connectivity among Scheduled Caste entrepreneurs, also takes up various activities like funding business through Venture Capitals, he added.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Chennai / by Express News Service – Chennai / December 23rd, 2013

Torrent-Elder Pharma enter into a definitive agreement

Business & Economy, Science & Technologies, World Opinion

Coimbatore :

Elder Pharmaceuticals  and  Torrent Pharmaceuticals  have announced that Torrent has entered into a definitive binding agreement with Elder to acquire its branded domestic formulations business in India and Nepal for a consideration of Rs 2,004 crore.

Elder’s India business comprises a portfolio of over 30 brands with leading products across women’s healthcare, pain management, wound care and neutraceuticals therapeutic segments.

The India business is being sold as a going concern on a slump sale basis and the transaction would involve the transfer of employees engaged in sales, marketing and operations. Under the proposed transaction, Elder would continue to manufacture and supply products at its existing manufacturing facilities for Torrent for three years.

Torrent would fund the acquisition through a mix of internal accruals and bank debt. Elder’s existing brand equity in the areas of women’s healthcare and pain management would help Torrent strengthen its position in the Indian market expanding into these fast growing areas, the companies said in a statement.

“We will now focus and grow our in-licensing, anti-infectives and exports business,” said Alok Saxena, Managing Director and CEO, Elder. “The transaction is a strategic fit for Torrent and will strengthen its core prescription-based business,” said Sudhir Mehta, Chairman, Torrent Group.

“This acquisition strengthens our position in women healthcare, pain management and vitamins/nutrition segments by enhancing and accelerating market access,” he said. “It is also expected to enable cost and revenue synergies in Torrent’s domestic formulations business,” Mehta said.

The transaction has been approved by the board of directors of both the companies. The transaction is subject to shareholder approval and applicable regulatory approvals and is expected to close in the first half of 2014.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Coimbatore> Pain Management / by M. Allirajan, TNN / December 13th, 2013

Rakindo launches the next phase of Orchids in Coimbatore

Business & Economy, World Opinion

Rakindo Developers, a joint venture between Rakeen, a company promoted by the Government of Ras-al-Khaimah and Trimex, an infrastructure company in India, is developing a residential project in Coimbatore, Orchids. The affordable gated community houses over 800 1, 2 and 3 BHK apartments, ranging from 672 sq. ft to 1,459 sq. ft.

Situated at the foothills of the Western Ghats in Kovaipudur, Orchids is a residential project in which the second phase is nearing completion. The next stage of 140 apartments will comprise 2 and 3 BHK apartments, ranging from 979 sq. ft to 1459 sq. ft. apartments.

It is 12 km from the railway station and 22 km from the airport. This gated community protected through a smart card security system, comes with power back-up, sewage treatment plant, provision for rainwater harvesting, storm -water facility.

Orchids consists of premier amenities, such as a 12,000 sq. ft. club house that includes a swimming pool, gym, indoor games, banquet hall, and outdoor basketball & tennis courts.

source: http://www.thehindubusinessline.com / Business Line / Home> Industry> Real Estate / by The Hindu Chennai Bureau / December 13th, 2013

Vellore Institute of Technology to host economist conference on Dec 14, 15

Business & Economy, Education

Vellore :

More than 700 delegates from various parts of the state are expected to attend the 34th annual conference of the Association of Economist of Tamil Nadu ( AET), to be hosted by Vellore Institute of Technology University’s business school on December 14 and 15.

VIT University chancellor G Viswanathan will inaugurate the conference in the presence of Royal Meridian Hotel and PGP Group of Institutions chairman Palani G Periasamy. The conference will hold technical sessions on education and development, energy crisis in Tamil Nadu and economy of Vellore region.

V Loganathan, emeritus professor University of Madras, K Varatharajan, former scientific officer of Indira Gandhi Centre for Atomic Research, Kalpakkam, M Basha from Islamiah College, Vaniyambadi, and C Dhandapani from Thiruvallur University, Vellore, will address the conference in which more than 200 papers will be presented.

R Balasubramaniyan, associate professor of economics at D G Vaishanav College, Chennai, will deliver the 9th M Sebastian Stanislaus (AET founder) memorial lecture on ‘The status of food security in Tamil Nadu.’

The conference includes a panel discussion on southern growth models. Viswanathan will chair the socio-economic conundrum on December 15.

Lifetime achievement awards will be presented to nine professors, including founder director of Vellore Institute of Development Studies P Jegadish Gandhi.

Senior economist and junior economist awards will also be presented during the conference.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Chennai> Tamil Nadu / by Bosco Dominique, TNN / December 13th, 2013

Lanco Tanjore Power Company receives SWORD OF HONOUR award from British Safety Council

Business & Economy, Records, All, Science & Technologies, World Opinion

Lanco Infratech Limited (LITL), one of India’s largest integrated infrastructure enterprise, has announced that its unit, Lanco Tanjore Power Company Limited (LTPCL), operating 120 MW combined cycle power plant in Tamil Nadu has bagged the coveted SWORD OF HONOUR award from British Safety Council in the category of ‘Health and Safety Management System’ for the year 2013.

The award which acknowledges the company’s excellence in the health and safety bracket was presented to LTPCL’s Chief Executive Officer Mr P. Panduranga Rao from Mr. Alex Botha, Chief Executive Officer of the British Safety Council in a grand ceremony at the Goldsmith’s Hall in London.

Commenting on the occasion, Mr. P. Panduranga Rao, CEO, Lanco Tanjore said: “This is a proud moment for Lanco Group. Very few companies have received this award from the British Safety Council till now. It marks the sincere and responsible efforts that Lanco put into each of its projects to ensure the maintenance of the highest safety standards and creation of an amicable, secure work environment for its employees.”

In order to compete for the SWORD OF HONOUR award, LTPCL first had to attain FIVE STAR rating in the British Safety Council’s health and safety management audit scheme with a minimum score of 92%. LTPCL had to achieve another 80% to receive SWORD OF HONOUR, making it the first ever gas-based combined cycle power plant in India to scale the heights of achievement in the field of Health and Safety.

British Safety Council’s SWORD OF HONOUR award is designed to recognize and celebrate health, safety and welfare management excellence. The award is open to organizations around the world who have achieved the maximum five stars in the British Safety Council’s audit programme.

source: http://www.equitybulls.com / Equity Bulls / Home> Stock Report / December 08th, 2013

Coimbatore to host banana festival

Arts, Culture & Entertainment, Business & Economy, Green Initiatives/ Environment, Nature

Coimbatore :

A two-day banana festival is scheduled to be held during December 14-15 at the Codissia Trade Fair Complex here.

Second edition

This is the second edition of the event. “It is being mooted at the State-level to promote development of certain agricultural commodities specific to the State. Banana has been identified as the nodal crop for the State owing to the quantum of production and the distinctive varieties of this so-called ‘poor man’s fruit,” farm varsity Vice-Chancellor Ramasamy said.

Tamil Nadu Agricultural University incidentally is the knowledge partner to this event.

The mela is being organised by the Tamil Nadu Banana Growers Federation in association with the Confederation of Indian Industry.

Around 3,000 farmers are expected to attend this event, a CII spokesperson said.

The Vice-Chancellor said that there were 128 varieties of banana, but less than 50 per cent of these were alive. All of these, including value-added products from banana fruit, by-products from banana fibre, psuedostem and leaves will be showcased during the two-day mela, he said.

“The University works with farmers and develops technology. One such technology was developed in 1998 for banana and given to the farmers.

“The President of Tamil Nadu Banana Growers Federation A.P. Karuppaiah improvised this and went for cold storage and ripening chamber to increase the shelf-life of the fruit. The State Government approved transfer of this technology to five different locations. “The Department is now keen to develop cold storage chain along the Theni-Chennai, Madurai-Tuticorin route,” he added.

Ripening chamber

“While cold storage chain is important, we also need ripening chamber. There are about 18 such chambers at present. The Department is planning to add a dozen chambers in and around Chennai, connecting all directions. The State is envisioning at least one cold storage chain and ripening chamber in every district during this Plan period. We want to take this to every village shandy in five years,” he added.

source: http://www.thehindubusinessline.com / Business Line / Home> News> National / by The Hindu Bureau / Coimbatore – December 09th, 2013

Coir board looking at coconut development in Pudukottai

Business & Economy, Green Initiatives/ Environment, Nature
Minister of State for Commerce and Industry, E M Sundarsana Natchiappan, addressing at a seminar on coconut development in Pudukottai. / by Special Arrangement / The Hindu
Minister of State for Commerce and Industry, E M Sundarsana Natchiappan, addressing at a seminar on coconut development in Pudukottai. / by Special Arrangement / The Hindu

Union Minister tells farmers to emulate their counterparts in Pollachi

The Coir Board of India is satisfied over the potential of coconut production in Pudukottai district and all efforts will be taken to provide subsidy and other benefits being implemented through the Board, said E.M. Sudarsana Natchiappan, Union Minister of State for Commerce and Industries.

Delivering the keynote address at the day-long state-level seminar-cum-exhibition on “coconut development” organised jointly by the Coir Board of India, the Pudukottai District Coconut Farmers’ Federation, and the Aranthangi Coconut Farmers Association here on Saturday, Mr. Sudarsana Natchiappan said that the board, after a survey, had identified the potential of the district in coconut production. He appealed to the coconut farmers to fully utilise the subsidy-based programmes being implemented by the board. Every farmer would get an annual subsidy of Rs. 17,500 a hectare for two years and fertilizers would be supplied to farmers.

With a view to tapping the potential of coconut largely available in this belt, the Union Ministry of Commerce and Industries would set up a coconut and coir handicrafts design centre in Karaikudi. The modalities were worked out in this regard, he said.

Hemachandran, Deputy Director of Coir Board of India, Kochi, explained the steps taken by the board after realising the potential of Pudukottai district in coconut production. He appealed to farmers to emulate the example of Pollachi where the producers got prospective returns and ensured quality in produce.

G.S. Dhanapathy, District Chairman of Farmers Forum of India, said the objective of the seminar was to evolve ways and means for value addition in coconut products and for promoting export.

Speakers from various government departments explained the agricultural inputs, subsidy, and compensation being provided by the Union and State governments to coconut growers.

An exhibition was organised as part of the seminar. Mechanisation in coconut cultivation was explained to the visiting coconut growers. It sought to sensitise the visitors on marketing coconut and value-added produce.

A large number of coconut farmers from across the State participated in the seminar.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Tiruchirapalli / by Special Correspondent / Aranthangi – December 01st, 2013

Lamborghini tractors to launch in India on Dec 12

Business & Economy, Science & Technologies, World Opinion
Lamborghini tractors have the potential to change the way India's view farm vehicles.
Lamborghini tractors have the potential to change the way India’s view farm vehicles.

Soon there will be a name everyone knows in fields across India. On December 12, Lamborghini will launch its luxurious tractors here as part of the Kisan agri exhibition being held at Pune.

Though the Italian brand Lamborghini is usually associated with sports cars, its tractors have a longer history since they were launched in mid 1950s, even before the cars. The tractor brands has been owned by the SDF Group since 1973.

In India the tractors are manufactured at SDF’s plant in Ranipet, primarily for export. The plant is a global production hub for many of SDF’s internationally renowned tractor models including Deutz-Fahr.

Lamborghini tractors have the potential to change the way India’s view farm vehicles. Initially, the plan is to target rich farmers, golf courses, vine yards, cricket stadia and luxury resorts.

source: http://www.indianexpress.com / The Indian Express / Home> FE Online / New Delhi – Monday, December 02nd, 2013