Category Archives: Business & Economy

Tiruchi-based Jungle Jewels expect revenues of Rs 60 lakh in FY14, breaking even in process

Chennai :

Jungle Jewels, a Tiruchi-based firm that makes jewellery uniquely from seeds and trains economically poor women to craft them, is on the lookout for  funding from social investors.

The firm, founded by engineer-turnedsocial entrepreneur J Balamurali, 40, is already in talks with one investor, which he won’t name. “When people come, they look at us more as a business to make more money. We don’t want investors like that,” says Balamurali.

In its fifth year now, Jungle Jewels hopes to end 2013-14 with revenues of Rs 60 lakh, breaking even in the process. “We could have touched Rs 90 lakh. But due to lack of funding, we had to scale it down,” says its founder.

Balamurali’s venture happened by chance. His father had set up a herbal park to provide alternative primary health care to villagers near Tiruchi in 1979. Many years later, it occurred to Balamurali that the seeds in the park, going waste, needs to be used up somehow. The idea of making jewellery struck him one day when he saw women arranging paddy seeds.

His research showed him no one had done this commercially, though some tribals already knew the art. Balamurali then put up samples in an exhibition in Mumbai. “People were excited seeing the products,” he recalls. That was enough trigger to start Jungle Jewels, which he did by investing his own money as also that of his family and friends.

Jungle Jewels has 30 women from poor backgrounds on its rolls. For most, this is their first job. None of them had any prior idea about craftwork. Their husbands work as auto-rickshaw drivers, farm labourers, textile shop salesmen and lorry load men.

R Chitra, a 37-year-old employee, says: “This is an additional income for the family, we are very happy. We like the concept and it is different from a regular day job.” Jungle Jewels has two units. The Tiruchi unit, which this correspondent had visited, is a one-room facility having a huge table for a work area. The workers, having fixed work hours, even have a pick-up and drop facility. They make jewellery from 12 seeds, the likes of ‘Canna indica,’ ‘Oryza sativa’ and ‘Delonix regia.’

The company doesn’t have a designer. But workers say they draw inspiration from real life. Prices range between Rs 40 (for a pair of earrings) and Rs 1,400 (for neckpieces). As Jungle Jewels expands its offerings to products such as key chains, stationery items, and do-it-yourself-kits, Balamurali is considering hiring fashion design students as interns. Jungle Jewels markets its products through exhibitions, online shops and resellers. It also has tie-ups with individuals in the US, UK, France, Australia and Dubai to sell its products.

It hasn’t been easy, says Balamurali. Conversations with big retailers, he says, are always about discounts, volumes and profits. “People tell me that my products are under-priced. We have a calculation. We are happy with that calculation. There should be some justification to pricing, right?”

He says: “When people buy a product, they don’t know what its roots are, who made it and where it came from.” He believes it should be different. “Here, we have a story. By buying a necklace, we are supporting a group of women who are financially not doing well. We don’t exploit anyone in the chain.”

Now, Jungle Jewels wants to scale up. Paul Basil, founder and CEO of Villgro, which essentially funds social enterprise firms and ideas, says: “This is definitely unique, a niche type of product but will that scale, is the question.”

Chandu Nair, a Chennai-based entrepreneur and mentor, says: “It is expensive to build a brand and also, difficult to distribute. But, it is definitely possible.” He says there are quite a few social impact funds, which are patient and also ready for relatively smaller returns.

But Nair says, “Much of it depends on how much of a social impact is the firm creating, what kind of an enterprise is it and how good is the team.”

According to the India  Venture Capital  and Private Equity Report 2013, published by IIT-Madras, social sector investments  by private equity and venture capital funds dropped drastically to around $36 million (about Rs 227 crore) in 2012, compared to $160 million (Rs 1,010 crore) the previous year.

source: http://www.articles.economictimes.indiatimes.com / The Economic Times / Home> News> News By Company> Corporate Trends> Jewellery / by Vidhya Sivaramakrishnan, ET Bureau / November 18th, 2013

Healthy snacks on offer at corporation’s herbal canteen

Coimbatore :

On the occasion of World Diabetes day, the city municipal corporation opened its herbal canteen service at the main office complex of the corporation. Specifically meant to serve healthy and nutritious meals the herbal canteen at the corporation is expected to be a great relief for hundreds of visitors and employees working at the corporation main office.

“The menu was fixed after ensuring the nutritional content of the food. Members of selected self help groups will operate the centre and our officials will monitor it,” said G Latha, commissioner, Coimbatore municipal corporation.

The herbal canteen will serve soup varieties from 11.am to 12.30 am at Rs10 per serving. Lunch time is from 12.30 to 2.30 pm during which limited meals and various variety rice would be served for Rs40 and Rs20 respectively. Evening snacks would be available from 4pm to 6pm at a rate of Rs10 per plate. Items include Navadhanya Adai, Vazhapoo Vadai and other savouries. The canteen will also serve various varieties of herbal and organic teas.

“We have supplied utensils and other facilities to the women entrusted with the canteen and they will pay us Rs750 daily. We will also fix a salary for them,” Latha added.

The corporation has spent around Rs 2.76 lakh on the herbal canteen and was reportedly planning to give it on a monthly rent of Rs5000 but now it is exploring possibility of lowering the rent. The canteen would be managed by 14 members of Sri Ganga Yamuna Womens SHG from Kurichi.

“The corporation has given us the facilities to operate the canteen. We will purchase the ingredients and other items required from the open market,” said P Pushpavalli, an SHG member.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Coimbatore /  by TNN / November 15th, 2013

Oil palm cultivation introduced in Pudukottai

Oil palm cultivation has been introduced in Pudukottai district, thanks to the efforts made by the National Agriculture Development Programme (NADP).

The NADP has fixed a target of 100 hectares to be brought under oil palm cultivation. Gandarvakottai being one of the potential blocks for oil palm, the cultivation was taken up at Veeradipatti village in the block on Wednesday.

At a function at Veeradipatti, K.M. Shajahan, Joint Director of Agriculture, said special subsidy would be sanctioned to encourage the practice.

He explained the assured returns from oil palm from the third year of its cultivation.

Lack of awareness about the profitability of the crop was a major hurdle.

Campaign

The department would launch an intensive campaign to motivate farmers. Oil palm cultivation required less labour, he said. The NADP has permitted cultivation in Pudukottai, Sivaganga, and Virudunuagar districts.

Sadanandham, Deputy Director of Agriculture (government of India schemes), said oil palm would be an alternate and viable crop.

source: http://www.thehindu.com / The Hindu / Home> News> Cities / by Special Correspondent / Pudukottai – November 14th, 2013

Heritage weaves

Simrat Chadha and Nilini Sriram with korvai saris. / Photo: S.Madhuvanthi / The Hindu
Simrat Chadha and Nilini Sriram with korvai saris. / Photo: S.Madhuvanthi / The Hindu

Simrat Chadha brings alive the classic Kanchipuram sari, complete with near forgotten designs and colour combinations.

We are forward, Weave backward. Say the pitras as they sit by the loom’ – Rg Veda 130

To the rhythm of this unspoken bit of ancient poetry, countless weavers across India and across time have woven saris, upper cloths and veshtis of great beauty and elegance. In time, each region of the country came to excel in a particular set of motifs and designs in colours of Nature that blended to create unique saris with names which were bits of poetry in themselves.

The motifs of the Kanchipuram pattu sari, the pride of South India, had lyrical names such as tuthiripoo, bavanchu, kuyilkann, muthuchir, paalum pazhamum, oosivanam, vaizhapoo and simhasana. As Simrat Chadha, a South Indian pattu revivalist, puts it, “Ironically, the Kanchipuram sari itself is a misnomer. It came to be so called only because of the aggregation of saris and weavers in the city of Kanchipuram. Kanchipuram was actually a great veshti weaving centre! The “pattu” sari, or the Kanchipuram sari as it is commonly known, also owes its design soul less to Kanchipuram and more to the aggressive, spontaneous grace of Andhra’s design language and Karnataka’s staid yet graceful weaving patterns with Tamil Nadu’s structured textile philosophy. Every art form in Tamil Nadu follows strict structural formats. Even checks or lines whatever intricacy they wished to express followed structure. The exquisite Benarasi too came under Kanchipuram pattu sari’s structured patterning when the northern ‘hans’ became the ‘hamsam.’

Benaras patterns

Between 1820 and 1920, the pattu sari weaver began to absorb Benaras patterns such as ‘kinkab’ and ‘khilat’ in a Kanchipuram sari. In fact, so great was the popularity of the Benarasi saris that this writer’s mother’s nine-yard wedding sari – a nearly 100 year old heritage piece today – was a shot silk Benarasi silk spattered with woven bouquets of English flowers bunched in baskets.

A weaver at work / by Special Arrangement / The Hindu
A weaver at work / by Special Arrangement / The Hindu

What distinguishes a true blue Kanchipuram pattu whose history, according to Hobbes and Watson, goes back to a timeless yesterday while other textile historians give it no more than 500 years?

It has a defined design structure, is heavy in weight, with a warp and weft twist called ‘murukku petta,’ tested zari and a matte finish. It can be identified by ‘seeru’ stripes and ‘kattam’ checks, three shuttle korvai which is a plain interlocked joint or a ‘muggu’ temple spine, and patterned border, mundanai end piece and so on. The borders are wide and pallus defined by elephants and parrots, among other designs.

While the korvai has all but vanished, so have many of the other features of the classic Kanchipuram sari leaving behind a rather soulless coming together of colours, uninspired borders and trendy motifs.

For that rich look: A re-created Kanchivaram sari./ by Special Arrangement / The Hindu
For that rich look: A re-created Kanchivaram sari./ by Special Arrangement / The Hindu

Simrat’s passionate journey of revisiting and recreating the classic Kanchipuram was to stop “a bit of our culture and heritage from vanishing in front of our eyes. It was to entice the young person into appreciating and wearing the sari. It’s also my journey of responsibility. We are building pride of association at two ends – the customer and the weaver.”

“It all began with our collection of kodu and kattam cotton saris with korvai which was hugely popular. This convinced us to start our own pattu revival journey. I read all possible books on Kanchipuram saris and began collecting originals. All the old original Kanchipurams belong to mamis — friend’s mothers, aunts, grandmother and even great grandmothers! We then took a few of these originals and visited weavers and weaving centres in Kanchipuram, Salem and Madurai, to convince the weavers to replicate them.

Sarees of various patterns recreated with Korvai. / Photo: S. Madhuvanthi / The Hindu
Sarees of various patterns recreated with Korvai. / Photo: S. Madhuvanthi / The Hindu

The response varied. Why should they weave a korvai which was time and labour intensive or create such an intricate border? Sometimes, there would be excitement when an older weaver would identify an oosivanam or a mubaggam which he himself had woven in his younger days! There was a lot of travelling back and forth by the revivalist team, much persuasion and great creative excitement as looms were set up and the recreation process got under way.

The collection of 60 original Kanchipurams and 20 re-created ones mesmerises with ancient mellow beauty, mellifluous mingling of colours, and near-forgotten motifs. An old oosivanam in pink with stripes and a magical border sits besides its revised avatar. The same look and feel with perhaps a subtle difference? An old Vaira-oosi with red body stripes and yellow border is now re-created with yellow body and red border.

If original Korinads entice with their harmony of colours and texture so do the recreated ones in deep blue with red stripes and yellow border or in flaming orange. Part of the re-created saris is the ‘kallam puttani’, ‘kalaialangara pudavai’ and ‘moobhagam’ in a stunning intersection of purple and grey, black and grey and so on. Original black body and broad red border Kanchipurams stun with their design harmony.

Equally harmonious are black and shocking pink, off white with huge checks and ‘maanga’ borders, turquoise with yellow border, some with tiny checks, and much more…

Call 044-24997526 if you want to re-create old heritage saris.

source: http://www.thehindu.com / The Hindu / Home> Features> Firday Review> Art / by Pushpa Chari / November 14th, 2013

Chennai lighthouse open to visitors after 22 years

Vasan said the Ministry has shortlisted 15 lighthouses, including Mamallapuram, Marakkanam, Kanyakumari and Rameswaram, in the country to be made tourist attractions. | EPS
Vasan said the Ministry has shortlisted 15 lighthouses, including Mamallapuram, Marakkanam, Kanyakumari and Rameswaram, in the country to be made tourist attractions. | EPS

After over two decades, the Chennai lighthouse, overlooking the Marina beach, the second longest in the world, was today opened to visitors.

Shipping Minister G K Vasan opened the 46-metre tall heritage structure to visitors, which has been the first spot of sight for mariners approaching the commercial capital of south India from Bay of Bengal.

It was closed for visitors, following security threats during the early 90s, as the triangular structure painted in red and white, functioning since 1977 is located very close to Tamil Nadu DGP Office, Forensic Laboratory, All India Radio and holy shrine of Santhome Basilica.

Vasan said the Ministry has shortlisted 15 lighthouses, including Mamallapuram, Marakkanam, Kanyakumari and Rameswaram, in the country to be made tourist attractions. “Mamallapuram lighthouse will be opened in January next, while Marakkanam lighthouse will be opened on November 30,” he said.

Security arrangements have been made with cameras and smoke detectors installed at various spots and trained personnel being deployed in the campus on the Kamarajar Road.

Stainless steel fences have been erected on the 10th floor, till where the visitors are to be allowed.

The minister also laid the foundation for National Navtex Network intending to provide enhanced safety and security for maritime traffic. “It is a project of over Rs 20.25 crore and is expected to be completed by December 2014,” Vasan said.

NAVTEX is an international automated medium frequency direct printing service for delivery of navigational and meteorological warnings and forecast, search and rescue information and pirate warnings to ships.

The Indian Navtex Network would have seven transmitting stations including Veraval, Vengurla Point, Muttom Point, Porto Novo, Vakalpudi and Balasore — to broadcast maritime safety information to mariners up to 250 nautical miles.

An emergency NAVTEX Control Centre is also being established at Visakhapatnam in Andhra Pradesh to ensure uninterrupted service to mariners.

The network would broadcast navigational warnings, meteorological warnings and forecasts for 10 minutes at regular intervals round the clock.

The Ministry would also have monitoring stations at Okha, Ratnagiri, Azhikode, Puducherrym Dolphin’s Nose, Sagar Island and Port Blair.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Chennai / by PTI – Chennai / November 14th, 2013

SBI Macquarie buys 74% stake in Trichy Tollway for Rs 275 crore

 Mumbai : 

SBI Macquarie Infrastructure Trust has acquired 74% stake in a Trichy road project developed by IJM of Malaysia and Shapoorji Pallonji  for Rs 275 crore. This is SBI Macquarie’s third buy in the road space in the last one year.

India’s road sector is abuzz with talks of mergers and acquisition, with smaller and more aggressive bidders piling up orders that have run into viability issues, creating an opportunity for financial and strategic investors to shop around for distressed projects.

(India's road sector is abuzz…)
(India’s road sector is abuzz…)

“Trichy Tollway project has so far made losses but the project is up and running and there are no execution risks involved. Given the toll collections, the valuation looks attractive,” a source close tot the development told ET.

Trichy Tollway Private is a 50:50 joint venture between IJM and Shapoorji Pallonji. The project entails quadrupling the two-lane 92.75 km stretch on National Highway 45, and subsequently operating and maintaining it for 20 years under a concession with National Highways Authority of India . The project started commercial operation in September 2009 and has three years of operating history.

SBI Macquarie bought almost equal stake from the two JV partners, reducing their collective stake to 26%. Post the acquisition, SBI Macquarie has roped in Feedback Brisa Highways OMT, a JV between Feedback Infrastructure and Brisa, Auto Estradas de Portugal SA, to operate and maintain the project.

SBI Macquarie Infra is managed by a JV established in 2008 between State Bank of India, Macquarie Capital Group and International Finance Corporation. It had earlier bought 35% stake in Ashoka Buildcon’s roads arm for Rs 800 crore. It also acquired 74% stake in GMR’s Jadcherla Expressways for Rs 203 crore.

Cash-strapped infrastructure developers are in the market looking for equity investment in 40 projects. Many of these projects are up for sale because of lower-than-expected toll collection, rising cost of credit and bottlenecks in land acquisition.

A few highly leveraged developers are also scouting for investors to raise funds to finance other projects. In the past, companies like Hindustan Construction Company and Ashoka Buildcon  have inducted equity investors for their subsidiaries.

source: http://www.articles.economictimes.indiatimes.com / The Economic Times / Home> News> Economy> Infrastructure / by Rachita Prasad, ET Bureau / November 11th, 2013

CRI pumps extends operations to China

Coimbatore :

Leading pump maker CRI Pumps has opened its sixth foreign subsidiary in China.

CRI Pumps Shanghai Co Ltd would become fully operational from next month, a company release said.

CRI was the first pump manufacturer from India to have its 100 per cent wholly-owned subsidiary company in China intended for manufacturing and marketing specific products, it said.

source: http://www.ptinews.com / Press Trust of India / Home> Business / Coimbatore – November 07th, 2013

Marakkanam lighthouse ready to guide fishermen

The new lighthouse in Kadapakkam has been emitting light since last week ./  Photo: T. Singaravelou / The Hindu
The new lighthouse in Kadapakkam has been emitting light since last week ./ Photo: T. Singaravelou / The Hindu

It will be inaugurated by Shipping Minister on November 30

The new lighthouse at Marakkanam has started emitting light, providing safe passage for small boats in the nearby fishing hamlets.

Till recently, fishermen were being guided by the lighthouse located either at Puducherry or Mamallapuram.

The Marakkanam lighthouse in Villupuram district is located about 60 km from Puducherry and 40 km from Mamallapuram. It is also 17 km from Marakkanam towards Cheyyur.

It took nearly 12 months for the authorities to construct 110-120 feet high structure at a cost of Rs.2.20 crore. The new facility will be inaugurated by Shipping Minister G.K. Vasan on November 30. According to the sources, it is the 24th lighthouse on the east coast spanning from Pulicat to Kovilthottam.

It will be powered by a solar panel. Its light will be visible for 17 nautical miles during night and 16 nautical miles during the day. Last week, a technical team visited the spot to increase the light’s length.

As per the maritime agenda, the Centre plans to set up at least one lighthouse for every 30 nautical miles along the maritime route in the country. Currently, there are 184 lighthouses in the country, of which 33 are on the east coast. The 25th lighthouse is being set up at Vembar in Tuticorin district. Land has already been acquired and the authorities are awaiting formal clearance from the Union the Environment Ministry to commence civil works.

Lighthouse Tourism

Even as the Centre has decided to allow tourists to climb the Marina lighthouse from Thursday, there are requests from the public to have an aerial view of the city and the port from the third lighthouse building in the Madras High Court. Sources said that Chennai maritime trade saw lighthouses being operated from four sites.

The first one was erected at Fort’s Museum, the second one along the Esplanade Line in the Madras High Court and the third one at the centre portion of the High Court’s main building. The second and third lighthouses can be allowed for public viewing only after renovation. Meanwhile, the Public Works Department said it would cost about Rs.75 lakh to renovate the third lighthouse.

The court has sought details about the renovation. After getting a reply from the department, the matter would be placed before the court’s Heritage Committee for its decision.

source: http://www.thehindu.com / The Hindu / Home> News> National> Tamil Nadu / by N. Anand & K.T. Sangameswaran / Chennai – November 11th, 2013

National conference on fireworks to be held in Sivakasi

Virudhunagar :

The second conference on fireworks under the theme ‘Enhanced Management of Fireworks’ will be held in Sivakasi on November 22 and 23. Addressing media persons in Sivakasi, R Venugopal, controller of explosives and centre in-charge of petroleum and explosives safety organisation (PESO) said that the conference will be jointly organised by Tamil Nadu Fireworks & Amorces Manufacturers’ Association (TANFAMA), The Indian Fireworks Manufacturers’ Association (TIFMA) and Tamilan Fireworks & Amorces Manufacturers’ Association (TAFMA) in collaboration with PESO.

The two-day conference and exhibition is the first-of-its-kind in the fireworks hub of the country. The conference will focus on bringing together individuals of different scientific background to provide fertile atmosphere in which to see the latest technology, to trade experience and ideas on ways to enhance the fireworks industry. Six technical sessions will be held and 28 technical papers would be presented during the conference. Eminent professionals from the Pyrotechnic Industry, scientists from CSIR, IGCAR and statutory authorities will be presenting papers in different technical sessions, he said. The six technical sessions will include safety in manufacturing, quality control, exports of fireworks, mechanisation of hazardous procedures in manufacturing, reviving Fireworks Research & Development Centre (FRDC) at Sivakasi and there will be a technical session on studying the case studies of two major fireworks accident that shook Sivakasi – Dawn Fireworks Accident in 1998 killing 36 people and Om Sakthi Fireworks Mudalipatti in 2012 killing 40 people. “There will be lot of thrust on mechanisation of the hazardous procedures in fireworks manufacturing and many big players have already started working on it”, Vengopal said. They are expecting more than 1000 delegates across the country and 40 stalls exhibiting the latest state of art machineries in fireworks manufacturing and allied activities will be displayed in the exhibition. As the special feature, a regular fireworks display and musical fireworks display will be conducted at Sivakasi on the final day of the conference, he mentioned.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> City> Madurai> Sivakasi / TNN / November 08th, 2013

Indian Brit is new UK Dy HC

Bharat Joshi.
Bharat Joshi.

Chennai:

Bharat Joshi is the new British Deputy High Commissioner in Che­nnai.

He succeeds Mike Nithavrianakis who had served here for four very active years. Joshi will have a challenging task ahead as a major part of his Chennai portfolio is focused on enh­ancing the trade and inv­estment partnership between the UK and the southern states of Tamil Nadu, Kerala and Pudu­cherry.

Born in Croydon, UK, in 1969, Joshi joined the Foreign and Com­monwealth Office (FCO) in 1995 and has had dip­lomatic postings in Ga­mbia, Dhaka and Qatar. He was most recently British High Commi­ssioner to Cam­eroon and non-resident Amba­ss­ador to Gabon, Chad, Equa­torial Guinea and Central African Rep­ublic.

A specialist in crisis ma­nagement, he had be­en deployed to the scenes of major incidents invo­lving British nationals including after the bom­bing of the British consulate general at Ista­nbul in 2003.
He has spent much time in dealing with critical diplomatic issues, including promoting tra­de and human rights, besides climate change and UN policy issues.

Joshi said he is hugely excited “returning to my country of origin at a time when the UK’s relations with India are growing at a faster pace than ever before — evidenced by growing tra­de, the opening of new UK offices across India and regular high-level visits in both directions —  is a dream come true.”

He said he was “looking forward to getting to know this part of the country and its people over the next few years.” Joshi is married to Bhakti for 17 years and they have two daughters. Cricket, badminton, history, reading and travelling are among his prime interests.

source: http://www.deccanchronicle.com / Deccan Chronicle / Home> News> Current Affairs / by DC / November 06th, 2013