Category Archives: Business & Economy

Dinesh Beedi diversification on course

DineshBeediKERALA14aug2015

Society planning to expandits non-beedi operations

Beedi making may be in its extinction stage in this part of the country, but a diversification initiative launched by Kerala Dinesh Beedi (KDB), once a large beedi maker in the cooperative sector, 17 years ago has stood it in good stead.

Having survived the vicissitudes of diversification into unfamiliar sectors, the KDB Workers’ Central Cooperative Society, comprising 18 primary societies spread over Kannur and Kasaragod districts and parts of Kozhikode district, is now on course and planning to further expand its non-beedi operations.

With the decline in the once thriving  beedi production, the society’s turnover came down from Rs.100 crore to Rs.32 crore in 2007. The society has picked up the pieces since then.

“Our annual turnover today is Rs.85 crore, which is high for an MSME [micro, small, and medium enterprise] company,” society chairman C. Rajan told The Hindu .

Society’s target

The society’s target is to raise it to Rs.100 crore this year. The primary societies are being prompted to be part of the diversification initiative.

The umbrella-making unit was started with a production capacity of 20,000 umbrellas a year. The unit in last fiscal produced over one lakh umbrellas, the buyers being institutions. Started with 20 workers, it now employs 100 workers. The number of workers in its food processing unit has risen from 30 to over 100. Nearly 50 more workers will be required soon with the expansion.

The IT operations of the society, now confined to software solution, will soon enter into core-banking solutions to run ATMs of cooperative banks.

“Expansion of the apparels unit is in the pipeline as 90 per cent of our products are exported,” society secretary K. Prabhakaran said.

Shortage of operator-level workers in the apparel sector is the major handicap being faced by the unit, Mr.Prabhakaran said.

A major factor that helped the KDB society in its diversification initiative is its assets including the land and buildings it owned in the region.

source: http://www.thehindu.com / The Hindu / Home> National> Kerala /by Mohamed Nazeer / Kannur – August 14th, 2015

A glorious decade

Proud winners:Chief Minister Oommen Chandy with students who cleared this year’s Civil Services examination, at a function organised by the Kerala State Civil Service Academy in the city on Thursday.— Photo: C. Ratheesh Kumar / The Hindu
Proud winners:Chief Minister Oommen Chandy with students who cleared this year’s Civil Services examination, at a function organised by the Kerala State Civil Service Academy in the city on Thursday.— Photo: C. Ratheesh Kumar / The Hindu

The Kerala State Civil Service Academy has churned out as many as 252 civil servants, including a top rank holder, since its inception in 2005.

The Kerala State Civil Service Academy, which is celebrating its tenth anniversary, can look back with pride as it had churned out as many as 252 civil servants, including a top rank holder, since its inception in 2005. So it is not surprising that the number of candidates enrolling for coaching at the academy is only growing.

In 2005, when it was established, only eight among a handful of candidates managed to enter the service. Now, in its tenth year, more than 400 aspirants have enrolled for various batches. Last year, 35 students cleared the examination.

“We are witnessing a steady rise in the number of students joining the academy. The examination is no more considered a hard nut to crack. Instead, students feel that with the right approach and perseverance, clearing the exam is not a hard task,” said P.M. Rajeev, course co-ordinator at the academy.

Taking into account the growing number of aspirants, the government has decided to construct a new building for the institute at Charachira, near Nanthancode. Chief Minister Oommen Chandy laid the foundation for the new building here on Thursday.

The three-storey building will have all modern facilities. The building, which will be constructed at a cost of Rs.3.43 crore, will also have a hostel for girl students.

source: http://www.thehindu.com / The Hindu /  Home> National> Kerala / by Staff Reporter / August 07th, 2015

First ‘China ready’ hotel in Kochi

The first “China Ready” hotel in God’s Own country to cater to the needs of Chinese tourists is getting ready at Kundanoor in Kochi.

As much as 80 per cent the work mandatory for Chinese accreditation is over at the 267-room five star deluxe Crowne Plaza belonging to Intercontinental Hotel Group (IHG), Sanjay Kaushik, general manager of the property told The Hindu .

The hotel will have trained personnel who can communicate to the tourists in Chinese, UnionPay payment facility on the lines of RuPay, Mandarin speaking personnel on call 24×7.

Authentic Chinese breakfast, lunch and dinner will be offered in the restaurants attached to the hotel. The menu card will also be in Chinese language for the benefit of the guests. Television in the hotel rooms where the Chinese tourists will be put up will have access to Chinese channels.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Thiruvananthapuram / by Special Correspondent / Thiruvananthapuram – August 03rd, 2015

Infosys co-founder SD Shibulal joins daughter Shruti’s venture ‘The Tamara’ as Chairman

Bengaluru :

Infosys co-founder and former CEO SD Shibulal is joining the board of The Tamara, the hospitality venture set up by his daughter Shruti, as its chairman at a time when the company is planning at least one fresh acquisition in the German speaking region of Western Europe

Since he retired from Infosys last year, Shibulal has been making investments through his family office Innovations Investment Management.
Since he retired from Infosys last year, Shibulal has been making investments through his family office Innovations Investment Management.

Since he retired from Infosys last year, Shibulal has been making investments through his family office Innovations Investment Management, most notably in real estate and hospitality sectors.

“He (Shibulal) plans to use his years of experience on a professionally run board to bring the foremost standards of corporate governance to The Tamara,” said Senthil Kumar N, director and chief executive of The Tamara.

The Tamara, which operates under the umbrella of Shibulal’s family office, also helps manage properties owned by the Shibulal family across the world.

Real estate makes up over half the portfolio of Shibulal’s family office, which has several resorts and projects in India.

The company’s flagship property and brand is the Tamara Coorg – a pet project of Shruti Shibulal, who is currently spearheading the venture’s Thiruvananthapuram project as well as the acquisition being pursued in Europe.

Shruti, who holds an MBA degree from Columbia Business School and started her career with Merrill Lynch, has also been actively building the family’s real estate portfolio. She also runs several finedining restaurants, including Caperberry and Fava in Bengaluru’s upmarket UB City mall.

“Each one of our platforms (such as The Tamara) has a professional management and governance structure in place from the beginning. They develop their own medium and long-term plans based on various factors. For example, our decision to consider acquiring a hotel property in the German speaking part of Western Europe is part of our long-term strategy,” said Kumar, an IIM-Bangalore and BITS-Pilani graduate who joined the Shibulal family office in 2005.

The company has started construction for its upcoming projects in Thiruvananthapuram and Kodai projects. It has also begun operating two new properties – Lilac in Bengaluru and Palma Laguna on the Kerala backwaters, Kumar said.

Shibulal’s family office currently manages the entire wealth of the family including any new funds added through dividends and share sales, and also helps build the philanthropic and business platforms which the family is interested in, Kumar said.

Since his retirement, Shibulal has also become an active investor in the startup ecosystem and even set up a venture capital and accelerator program called Axilor under the purview of his family office, roping in fellow Infosys co-founder S Gopalakrishnan as an investor.

ET had reported last year that Shibulal and his family own several hundreds of apartments and properties across the world. Shibulal and his family currently have about 1.97% of shareholding in Infosys, worth nearly $1 billion (about Rs 6,400 crore).

source: http://www.economictimes.indiatimes.com / The Economic Times / ET Home> Tech> ITes / by Anirban Sen, ET Bureau / July 29th, 2015

Hundreds pay tributes to industrialist

The funeral rites of R.N. Saboo, industrialist and former president of Grasim Industries at Mavoor, were held at the crematorium on the Mavoor Road here on Tuesday afternoon.

Saboo, 84, who was instrumental in establishing the Mavoor Grasim Company, had died at a private hospital on Monday.

A native of Pilani in Rajasthan, Saboo, began his career as a production executive at a cotton mill of the Birla group in Gawlior in 1952.

The company appointed him as deputy chief executive to start the factory at Mavoor in 1961 and he had played a vital role in all its spheres of activity for nearly four decades.

Saboo was active in the socio-cultural field in the city. He had also served as president of the Malabar Chamber of Commerce.

He had established the Savithrio Devi Saboo Memorial Women’s College, a cancer ward at the Kozhikode Medical College Hospital, and an English medium school.

He is survived by sons Alok Kumar Saboo, Sanjeev Saboo, Rajeev Saboo, and daughter Meenakshi Dalmia.

His wife Savithri Devi Saboo and a son Ajay Saboo predeceased him.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kozhikode / by Special Correspondent / Kozhikode – July 22nd, 2015

Beads of compassion

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Beads of various hues, strewn into beautiful necklaces, chains, and earrings are on display at the Museum Art Gallery here. The exhibition is being organised by Koottam.com on behalf of Preetha Attingal, who is paralysed from waist down since her school days. This is the second expo of Koottam.com, founded as a social networking forum for Keralites by N.S. Jyothikumar and Jeyamohan.

Preetha writes for the Koottam blog under the name ‘Snehapravahini.’ Her deep interest in jewellery prompted her Koottam friends to set up a small business for her. Beads from Varanasi are procured by a Koottam friend who resides in Mumbai. Preetha crafts pretty necklaces and earrings out of them, coming up with her own designs and methods. The price ranges from Rs.125 to Rs.600. The profits obtained from the sale will be added to Preetha’s next venture.

Koottam reaches out to many more talented and needy members. Preetha has been trained to manage the business too, says Sujatha Vinod Shanker, a mural artist. Rani and Renu Mohan, members of Koottam, are overseeing the exhibition. The exhibition, open from 10 a.m. every day, will go on till July 9.

source: http://www.thehindu.com / The Hindu / Home> Kerala / by A Correspondent / Thiruvananthapuram – July 09th, 2015

A visionary who was misunderstood in his native land

Kannur :

K P P Nambiar, renowned technocrat and founding chairman of Kerala State Electronics Development Corporation Limited (Keltron), will be cremated in his native village Kalliassery on Thursday. He died of age-related illnesses on Tuesday evening in his Bangalore residence, where he had settled after leaving Kerala.

Later, after a brief stint abroad, he returned to India on the invitation of the then Prime Minister Jawahar Lal Nehru. Later he came to Kerala on the state government’s request and played a pivotal role in the setting up of Keltron in 1973. While establishing Keltron, Nambiar chose his native place for establishing a major unit.

“Keltron was actually a dream project for Nambiar and he put in lot of energy to realize his dream,” reminisced writer and activist Karivellur Murali, who was a store manager in the Keltron unit in the district. “Though the unit in Kannur, which he set up along with the headquarters in Thiruvananthapuram, is the biggest capacitor manufacturer in Asia and known for its quality, Keltron is unable to market it properly due to the policies of the central government,” he said, adding that it would have been a different story for the ailing enterprise had he been there at the helm of Keltron.

Nambiar’s dreams were not limited to electronics. “When Keltron’s component making unit was established in Kannur, he was concerned about the power problems here and wanted to set up a power project,” said industrialist and exporter C Jayachandran.

“He had even identified 190 acres at Irinavu for the project. However, there was stiff opposition from residents and politicians and meanwhile the business partner for the project, Enron, also got entangled in controversies and it ultimately killed the project. The land was later identified for the Indian Coast Guard Academy.

He had big dreams for Kannur but it did not take off because the community and political leadership failed to understand his vision,” he said.

In a sense, his decision to leave Kerala was a political statement on the state of affairs here, feel those who knew him. Though Kannur University conferred him with DLitt in August 2013, Nambiar could not make it and the honour was received by his wife Umadevi.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Kozhikode / TNN / July 02nd, 2015

Black tiger shrimp to become the new vannamei

Tiger shrimps displayed for sale at Fort Kochi.— Photo: K.K. Mustafah
Tiger shrimps displayed for sale at Fort Kochi.— Photo: K.K. Mustafah

Native breed to step up national seafood business

Indian seafood business is on the verge of a major transformation, like the one ushered in by the exotic vannamei shrimp, with scientists at Rajiv Gandhi Centre for Aquaculture, Chennai, closing in on a stock of domesticated, disease-free black tiger shrimp, native to Indian waters.

“We are into the sixth generation of SPF tiger shrimp and trial farming in Odisha and Kerala, using bio-secure enclosures, has produced good results,” said an official of Marine Products Export Development Authority here on Thursday. He said that commercial-scale aquaculture using genetically-improved black tiger shrimp should be on in about five years. With it, black tiger shrimp will join Atlantic salmon, Pacific vannamei and unisex tilapia in the roster of genetically-improved varieties. SPF stocks are capable of doubling productivity, said the official pointing out what it meant to the seafood export business in the country.

Genetically improved, farmed tilapia yield is near five tonnes per hectare; vannamei yield is 3.5 to five tonnes and black tiger shrimp yield has been three tonnes. Farmers get Rs. 300 a kg of 30-count vannamei and the price of tiger shrimp is higher.

Besides a surge in production, acquiring a genetic base for aquaculture means more eco-friendly, sustainable business, he said.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Kochi / by K. A. Martin / Kochi – July 03rd, 2015

Kalyan group owner wealthiest jeweller in India

KalyanRamanKERALA01jul2015

Kalyan Jewellers’ chairman and managing director T S Kalayanaraman, is the wealthiest jeweller in India with a personal fortune of USD 1.3 billion, says Wealth-X report.

Kalayanaraman opened his first jewellery shop in Thrissur City in 1993 with only USD 100,000 capital, and his business has now expanded to 32 showrooms across South India. His personal fortune is worth USD 1.3 billion.

Nirav Modi was ranked second on the Wealth-X list of India’s wealthiest jewellers with an estimated net worth of USD 1.1 billion.

“Born into a family of Indian diamantaires, Modi left the family business in 1999 and launched his own company, Firestar Diamonds. In 2007, Firestar Diamonds acquired New York-based Sandberg & Sikorski,” it said.

The third on the list is M P Ahammed, with a personal fortune of USD 1 billion. Ahammed had opened the first Malabar Gold & Diamond showroom with only USD 70,000.

Others on the list include, Bhima Jewellers’ B Govindan with a personal wealth of USD 620 million, Kiran Gems’ Vallabhbhai S Patel (USD 590 million), Laxmi Diamond’s Vasant Gajera (USD 580 million), Dharmanandan Diamonds’ Laljibhai Patel (USD 480 million), Kiran Gems’ Babubhai Lakhani (USD 470 million), Kiran Gems’ Mavji Bhai Patel (USD 410 million) and Rajesh Exports’ Rajesh Mehta (USD 310 million).

Wealth-X provides insight into the ultra wealthy with the world’s largest collection of curated research on ultra high net worth individuals.

“The gems and jewellery industry is among India’s fastest growing sectors fuelled by UHNWs affinity for jewellery and the fact that they view it as an important store of value. For India’s ultra wealthy jewellers, all that glitters is gold!,” Sahil Mehta, director, Indian subcontinent at Wealth–X said.

source: http://www.deccanherald.com / Deccan Herald / Home> National / PTI / Singapore – July 01st, 2015

India’s first air-conditioned DEMU train launched in Kochi

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Railway Minister Suresh Prabhu today flagged off India’s first diesel electric multiple unit (DEMU) train service with an air-conditioned coach here.

The Angamaly-Ernakulam-Tripunithura-Piravom train service is expected to help in reducing traffic congestion in the state’s fastest growing city.

“It is for the first time in a DEMU service, we have provided air conditioned service. We want to increase it further,” Prabhu said at a function in Ernakulam Junction.

Top Railway officials said the AC coach provides reclining type comfortable cushion seats for 73 passengers similar to air-conditioned chair car of inter-city express trains.

Other coaches of DEMU train are provided with bench type cushion seats and large windows with glass shutters.

The train is equipped with bio-toilets and fully vestibule for free movement of passengers between coaches.

Prabhu said the DEMU after the inaugural service would be withdrawn temporarily and replaced with MEMU (mainline electrical multiple unit) train till the completion of renovation work of Harbour Terminus and Old Railway Stations.

He assured that the DEMU launched today would itself be restored once the renovation work was completed.

Kerala Power Minister Aryadan Muhammed, K V Thomas, MP, and Hybi Eden, Congress MLA, were among those who attended the function.

source: http://www.deccanherald.com / Deccan Herald / Home> National / PTI / Kochi – June 21st, 2015