Kochi Trade, Technology, Engineering & Industry

[Malayaali]

Aakash Tablet Delayed by Two Weeks

All is not well with the Aakash tablet, with getting even more murky with the ultra low cost project. In a move that is bound to push back the delivery schedule of the Aakash tablet, manufacturer Datawind has said it is severing all ties with component supplier Quad Electronics. Datawind is claiming the impact of the move could be a 2 weeks delay for the Aakash to reach consumers, though it shouldn’t be surprising if that stretches even further. The Hyderabad based company Quad Electronics is entrusted with supplying the touchscreen panels of the Aakash tablet.

However, the development isn’t as new as the rumblings that have been going on for quite some time. Datawind claimed it had ended its ties with Quad Electronics back in January on the grounds of having breached its intellectual rights property.

As Datawind chief executive Suneet Singh Tuli said, “Quad circumvented our relationship with IIT-Rajasthan, signed a direct memorandum of understanding with them and then sold off its inventory in the open market… We started taking pre-payments at the end of January, offering delivery in 8 weeks starting end of March – we’re about two weeks late from that date.” He however said, “We expect to catch up to our promised delivery schedule by end of April.”

Searches for new partners in Cochin and Noida have already started, though nothing concrete has been achieved yet.

[Malayaali]

V Guard registers 35% growth in turnover

The Kochi-based V Guard Industries Ltd has registered a 35 per cent growth in turnover in 2011-12, crossing Rs 1,000-crore mark.

Mr Mithun Chittilappilly, managing director, V Guard Industries Ltd, said at a press meet here on Monday that 23 per cent of the turnover comes from the non-south Indian markets where the company has concentrated for the last four years. The company clocked Rs 228 crore from non-south markets.

He declined to comment on the profitability of the company, as the results are yet to be announced. In the previous financial year, V Guard registered a net profit of Rs 42 crore.

The company is also introducing two new products – domestic switch gear and induction cooker in the market in the current financial year. This is the first entry of V Guard in the kitchen appliances segment, he added.

WONDERLA EXPANSION

Mr Arun Chittilappilly, managing director, Wonderla Holidays Pvt Ltd, said on the occasion that Wonderla has proposed to set up two new amusement parks in Hyderabad and Chennai in the next five years at an investment of Rs 550 crore. It has already acquired 55 acres in Hyderabad and is awaiting a legal opinion on the land identified in Chennai.

He pointed out that the amusements parks in Kochi and Bangalore had registered a year-on-year growth of 25 per cent and about 22 lakh guests visited these facilities last year. The amusement park business is an emerging field in India and the company wanted to expand in more places, he added.

Wonderla has opened 84 luxury rooms at its Bangalore theme park, benefiting holidayers to get the twin advantage of a world-class theme park and top notch resort to enjoy hospitality and entertainment under one roof.

REALTY VENTURE

Mr Kochouseph Chittilappilly, vice-chairman of the V Guard group, said that the company is entering into the real estate sector in the State with the construction of luxury apartments at Vazhakkala in 50 cents. The second project is a budget residential apartment complex coming up on one acre land at Kaloor.

Ms Sheela Kochouseph, managing director, V-Star Creations Pvt Ltd, announced its foray into kids' innerwear category with the launch of Little Vanessa and Little Valero, a spin-off from the lingerie parent brands Vanessa and Valero.

[Malayaali]

Holii to appeal Kochi customers

Holii, the India-based company engaged in business of designing and distribution of fashion accessories, is planning to enter the apparels segment by unveiling a couture line by December 2012.

The Rs. 200 million brand, which is a joint venture firm of Hidesign India and Future Group, is also geared up for revamping its look and price structure, said Holii Chief Executive Officer, Gilles Moutonet.

At present, Holii offers luxury handbags, Ipad covers, wallets, laptop bags and other leather items for women in luxury and mid-segment price ranges.

Working to revamp its look, the company intends to change it logo and completely re-brand it. While changing its image, Holli would draw inspiration from Indian handicrafts for its designs.

Further, as it is growing as a brand and in its product offerings, the brand is trying hands on different fabrics and colours, but mainly while mingling it with leather, as the basic knowhow flows from Hidesign, India's foremost leather company and brand.

Holii products are currently sold at 12 standalone boutiques in Kolkata, Pune, Chennai, New Delhi, Mumbai and Bangalore. The brand collection is also available at Lifestyle, Shoppers Stop, Central and Pantaloon outlets.

Holii clocked 60 percent growth last year and intends to set up new shops in 16 cities including Kolkata, Kochi, Lucknow and Chandigarh this year.

Also, it is looking forward to add Jamaica, Europe, Dubai, South Africa and Germany to its list of export destinations.

[Malayaali]

FACT invites private investment

The public sector Fertilizers and Chemicals Travancore (FACT) has called for expression of interest (EOI) from both private and public sector companies for investments in expansion and diversification projects it has identified.

In a recent announcement, FACT said that it planned to expand and diversify its core business to sustain productivity and improve profitability. The company had earlier limited the scope of possible joint ventures to public sector companies.

The potential areas of cooperation with private sector companies include a new sulphuric acid plant; urea plant; NP complex fertilizer plant and an ammonia-urea complex.

FACT's production facility is spread over two campuses — Udyogamandal and Cochin, and comprises, among others, a 990-tonnes-a-day ammonia plant; two sulphuric acid plants; a phosphoric acid and a complex fertilizer plants.

At the centre of FACT's new plans is the projected availability of LNG in Kochi by the end of the current year. FACT hopes to switch feedstock from the costly naphtha and furnace oil to LNG when natural gas will be available here. The availability of LNG and the pricing will decide the future of the expansion and diversification plans which include: a sulphuric acid plant with a capacity of 2,000 tonnes a day. The investment requirement is more than Rs. 318 crore. An NP complex at an investment of over Rs. 200 crore and an ammonia-urea complex at an investment of Rs. 4,600 crore are the other major items on the agenda for expansion and diversification.

The company has floated a 50:50 joint venture model between FACT and the willing company for specific projects. FACT authority has also proposed that the 2,000-tonnes-a-day sulphuric acid plant and the 1,000 tonnes-a-day NP plant can be combined as a single block.

[Malayaali]

BFC Group Holdings Launches New Retail Network in India

BFC Group Holdings, a leading international money transfer and foreign exchange group, announced today the expansion of its international network of branches with the launch of the BFC Forex & Financial Services PVT LTD (BFC Forex) retail network in India. The launch was inaugurated with the opening of the first branch and Head Office in Mumbai and 4 branches in Kerala.

BFC Forex is regulated by the Reserve Bank of India (RBI) and was established in December 2004 as an approved and licensed entity under RBI’s Money Transfer Service Scheme (MTSS), thereby enabling the inflow of funds into India from BFC customers living abroad.

With a network of over 50 strategically located branches throughout the Gulf and a further 10 located in the UK, BFC Group is expanding its retail network with 5 BFC Forex branches in India. These new branches embody BFC Group’s values of trust, care and efficiency, and are a commitment to customers to ensure their inward remittances are received on-time, every time and the receiving customer experiences the same high quality service they do in the send markets. Customers will be able to collect money from one of BFC Forex’s retail branches located in Mumbai, Tirur, Ernakulam – Cochin, Vadakara and Calicut. The branches will enable customers to receive cash from EzRemit and Moneygram send locations, as well as buy and sell foreign currency.

BFC Forex is licensed as a Fully Fledged Money Changer (FFMC) granted by RBI. It is the sole principal agent of Bahrain Financing Company for their cash remittance product (EzRemit) as licensed by RBI. With the license under the Money Transfer Service Scheme (MTSS), BFC Forex is able to serve customers by cash payments across its own counters and also through a sub agent network of more than 15,000 locations in India.
EM

[Malayaali]

French furniture maker Gautier to open store in Kochi

French furniture maker Gautier signed an exclusive distribution agreement with domestic lifestyle retailer Ebony Homes for India and the Saarc countries in 2007. Since then, Ebony Gautier have worked hard towards redefining the premium furniture segment with an element of functionality. Earlier, Gautier had a licence arrangement with the KK Birla group in the country that ended in 2003. Abhijeet Mitra, CEO of Ebony Gautier tells Meenakshi Dwivedi about his company and its future plans.

What are the emerging trends in the home furniture market in India?

There has been an inclination toward compressed wood furniture for better finish and stylized, yet functional and durable furniture. And yes, people do prefer modern and contemporary (straight line) furniture. Interestingly, customers are not scared of white furniture. Of late, it is the most preferred choice for customers when you talk about the colour pattern.

What are your future investment plans?

With the launch of our new store in Faridabad, the total number of Ebony Gautier stores in India is six now. Faridabad has a strategic importance because it is among the cities that have the highest per capita income. And this is the segment we are targeting — cities with income levels of Rs 60-70 lakh per annum. We plan to open 20 more stores in Delhi, Mumbai, Pune, Lucknow, Jaipur, Ludhiana and Cochin in the next two years.

[DileepKS]

Gautier was here long ago, but they were re-branded to Style Spa. It happened while I was abroad, so not sure why.

[agnath.]

Originally Posted by DileepKS

Gautier was here long ago, but they were re-branded to Style Spa. It happened while I was abroad, so not sure why.

Gautier Renamed Style Spa In India As French Tie-up Ends
http://www.financialexpress.com/news...p-ends/78799/1

[Malayaali]

So that must be the end of it. Gautier has found some other local partner, Ebony here, for the Indian market.

[Malayaali]

Originally Posted by agnath.

Gautier Renamed Style Spa In India As French Tie-up Ends
http://www.financialexpress.com/news...p-ends/78799/1

So, both are different entities. Gautier India is renamed Style Spa and the Gautier France is making its Kochi entry.

[Malayaali]

High growth in investments in the state

State witnessed rich growth in the number, investment & employment creation of the micro-small-medium industries in the fiscal 2011-12.

A total of 12,543 companies were formed during the period.

Ernakulam district lead the number of investments with 1936, followed by Kollam at 1366.


cc: Manorama

[Malayaali]

Kochi logs on to iPad3

Though nearly two weeks remain before Apple officially releases the latest version of its iPad in India, iPad 3 is already available in the city. While authorized dealers have asked customers to wait for a couple of days, there are shops around Marine Drive which sell the tablet at a price equal to the international rate and sometimes even less. Two options are available for consumers; a high priced iPad3 with all available warranty or a cheaper one that lacks warranty.

Amithab A K, owner of E-Store at Penta Menaka, claims that he sold 34 pieces of the new iPad since it was released in mid- March. "I have been receiving enquiries and orders since the US release date was announced and we managed to get iPads from Apple dealers abroad. The tablets are sold with all guarantees and support provided by the company and I sold the first iPad3 for Rs 67,000. But with prices coming down, a 64GB tablet now costs just Rs 53,000. The price might come down with India release around the corner, but we are not expecting much price difference," Amithab said.

He added that iPad which comes in black and white colours with 16GB, 32GB and 64GB storages are bought by professionals like doctors and engineers belonging to the 35 and above age group. Support in the form of user guidance and software updates are also being provided, he said.

Aravind S, another shop owner here said that the demand for older versions of iPad too has increased following the release of the new model. However for both the new and old versions, which are sold at much less than international rates, no kind of warranty is given.

The store manager of Tokyo Shop, a duty paid shop in the city said that unlike iPhones - which has to be unlocked if brought abroad - iPad has no such constraints and can be used anywhere. However a customer will have to book five days prior to the delivery date to get a piece since it has to be brought here from other countries.

"There is nothing illegal in what we are doing since we just buy from dealers and sell it here. However we cannot guarantee its longevity and consumers have to take a chance. Our consumers, who belong to upper middle class, are not worried since we have authorized vendors in the city who can rectify any software or hardware issues," the manager said.

iPad3 Kochi price

64GB - 53,000

32GB - 49,000

16GB - 42,000

[Malayaali]

CM lures foreign direct investment for Kerala in Delhi

The Kerala government on Friday launched a campaign to attract foreign direct investment (FDI) and said the state had unveiled a single-window mechanism for clearing investment proposals.

"Kerala is ready for investment. We want to send out a message to the world that investment is welcome," chief minister Oommen Chandy told a meeting of senior diplomats, heads of multilateral agencies and chiefs of trade missions here. Chandy urged the heads of foreign missions to take the message to their countries and help facilitate the flow of investment. The meeting was held in the run-up to the emerging Kerala Global Connect show scheduled at Kochi from September 12 to 14.

"The state government has a clear development agenda which is tailor-made to attract investments to the state. The long-term economic growth and progress of the state is the number one objective of emerging Kerala initiative," he said.

"The government has worked out a pro-active industrial and commercial policy for the state. The policy is intended to transform Kerala into a vibrant entrepreneurial society with faster and inclusive growth," said the CM.

Officials said the state government is developing a National Manufacturing and Investment Zone in the Kochi-Palakkad region, covering four districts.

The meeting was attended by diplomats from the US, the UK, France, Canada, Germany, the Russian Federation, Belgium, China, Taiwan, Denmark, Czech Republic, Malaysia and Sri Lanka.

Representatives from agencies such as Asian Development Bank, World Bank, Japan External Trade Organization, Indo-Canadian Business Chamber, US-India Business Council, UN Women, and Unesco also attended the meet.

[Malayaali]

KSIDC Electronics Hardware Park

In the backdrop of the huge potential of electronic hardware manufacturing, the State government is going ahead with its plans to set up a world class facility to host units in the electronic hardware industry. The electronic hardware park the government is planning will come up on 334 acres in the Amballoor village in Kanayannur taluk of Ernakulam district. The Kerala State Industrial Development Corporation (KSIDC), the investment promotion arm of the government, is the nodal agency for the project.

The hub would offer world class facilities for original equipment manufacturers, contract manufacturers, semi-conductor manufacturers and R&D institutions in the electronic industry. It will also provide facilities for ancillary units.

A tool room facility for use by small-scale industries, which might not be able to set up one on their own, will be an important part of the hub. The proposed facility will have machines such as CNC lathes, turning machines, milling machines, drilling machines, contour cutting machines, and planing machines. Entrepreneurs can use the tools at the hub to develop new products.

The hub will have a PCB/chip design/embedded technology training centre which will train entrepreneurs in developing new technology products using the existing hardware. The hub will also host R&D units developing new technologies for hardware building blocks such as smart cards, high-power semi-conductors, ASIC IP such as microprocessors, DSPs, and analog RF functions, MEMS transducers, etc.

The hub will also house an incubation centre, which will offer basic facilities for budding entrepreneurs to develop and test their ideas before hitting the market.

KSIDC sources said the hub is conceived as an industrial centre complete with social infrastructure comprising commercial and residential complexes, service facilities, hotels and recreation facilities to attract companies and professionals.

The project is estimated to cost '750 crore. It will be financed using equity capital of '175 crore to which with the State government ('125 crore) and KSIDC ('50 crore) will contribute. The hub is expected to receive grant in aid of '125 crore from the Central government and a term loan of '450 crore.

The proposed site at Amballoor meets the qualifications that make it ideal for the hub. It is located on the outskirts of the Kochi city, within 50 kms of the Cochin International Airport and the Vallarppadam international container transshipment terminal (ICTT). The area is sparsely populated and well-connected by wide roads, capable of handling container traffic. Its proximity to the National Waterway-3 opens up the possibility of establishing a water link to the ICTT.

KSIDC plans to develop the land by laying internal roads throughout the hub area, totalling a length of 20 kms. A 20 MVA, 110 KV substation is proposed to be set up to ensure availability of quality power. Ducting for cables and pipes will also be provided. A rain water harvesting project to ensure water supply is also being planned.

The electronics industry in Kerala is valued at $100 million. The State got a head start in the industry with the formation of Keltron in 1973, which was a pioneering organisation in electronic hardware industry when it was in its nascent stage. At present, global electronics majors have a presence in the State. TE connectivity (Tyco Electronics) has its own manufacturing unit in the State, while other majors Framatone Connectors and CII have joint ventures, namely FCI OEN and CII Guardian. Home grown players such as Keltron, NeST and OEN also have a formidable presence in the industry. Several global majors have outsourced their production to the units in the State. While some units produce a range of products such as capacitors, resistors, relays, counters, etc, some others manufacture whole units.

A number of factors have helped make Kerala a formidable presence in electronic hardware manufacturing. They include the high density of science and technology personnel, thanks to its technical education infrastructure consisting of more than 100 engineering colleges and hundreds of poly-techniques which provide the skilled and semi-skilled workers needed for the industry.

The opportunity

The $1.75 trillion electronics industry is the largest and fastest growing manufacturing industry in the world today. Electronic gadgets have been a part of our life for quite some now. But the IT and mobile revolutions have changed the scene drastically. They have profoundly affected the way we live our lives. Electronic gadgets like smart phones and tablets are the most talked about products in the world today.

Not surprisingly, the $1.75 trillion electronics industry is the largest and fastest growing manufacturing industry in the world today. And India is one of the fastest growing markets for electronic hardware, thanks to rising incomes and aspiration levels. The market for electronic hardware in the country is expected to touch $400 billion by 2020, from the current figure of $45 billion.

Source: Economic Update

[DileepKS]

Let me reiterate something that makes me excited about hardware manufacturing. It provides decent employment to people from the lower strata of society, and ploughs back much of the income into the society, creating social upliftment. I would welcome such job opportunities over the ITVty opportunities any day.

I daresay that SFO Tech, V-Guard and OEN, along with smaller players like Iga, Sfe-power and KCL have contributed much more to the overall development to Kochi than all the ITVty companies around.

The only concern I have is that Thripunithura and Thiruvankulam is going to be BIGG MESS as far as traffic is concerned.

[Malayaali]

Originally Posted by DileepKS

I daresay that SFO Tech, V-Guard and OEN, along with smaller players like Iga, Sfe-power and KCL have contributed much more to the overall development to Kochi than all the ITVty companies around.

+ 1

Also note that the compared to hardware manufacturing, where most of the talent is hired from local market, opportunities created by IT might not prove fruitful to the people from the region. Having said that IT helps a lot in the brand promotion of the city.

[Malayaali]

40% rise in Kitex group turnover

Kochi-based Kitex group has registered 40 per cent growth in export turnover, which touched Rs 527 crore in 2011-12 against Rs 377 crore in the previous year.

Net profit also showed a jump of 45 per cent from Rs 30 crore to Rs 44 crore during the financial year ended March 31.

Of the total turnover, Kitex Garments Ltd, a BSE listed company, has done a turnover of Rs 318 crore as against Rs 261 crore in the previous year. The 100 per cent export-oriented company registered a net profit of Rs 27.12 crore against Rs 20.63 crore of the previous year.

The earnings per share is also higher at Rs 5.71 against Rs 4.34. Mr Sabu M. Jacob, managing director, said that as a result of the improved performance, the board has recommended a higher dividend of 60 per cent against 40 per cent in the previous year.

CHILDEREN'S WEAR

Kitex Children's Wear Ltd, a sister concern of Kitex Garments, has contributed to the total turnover Rs 209 crore during the year against Rs 115 crore of the previous year. The net profit stood at Rs 8.01 crore against Rs 8.35 crore.

Kitex is in the process of doubling its turnover and the capacity. The company is planning to bring out toddler-wear under its own brand name in the US and the European markets.

The company had during the year received an excellence award for the best vendor of the year from ‘Toys R Us', a renowned US brand. Kitex is on its path to be a leader in the kids-wear and toddler-wear sector, Mr Jacob added.

[mohammedirshad06]

+ I wish, Kochi should have right mix of all jobs, much like Mumbai or Delhi, than concentrating in one area as primary revenue/employablity sector.

Kochi's economic powress lies in its key entrepreneurial and manufacturing skills. It must be exploited to the best to bring in more larger manufacturing units, hard technology enabled industries and lot of physical activities. It have strong multiplier effects from grassroot and one reason why Kochi is the Industrial Capital of Kerala, because it has experienced the same, since 1930s......

Kochi-Palakkad region, as part of Industrial Corridor, will surely help to transform Kerala into major economic powerhouse... These kind of electronic industries have successfully transformed Korea, Japan, China etc.... Its time, we must try emulate that model, fully understanding our limitations and problems.

Kochi's future lies more strongly in Electronics, Hardware, Chemicals, Pharmaceutics, Petrochemicals, Gold, Jewels and Tourism primarily. Its time, we need to strongly develop on our key points too....

The E-City is a sure indication for the same.....

[Malayaali]

OC and Co is trying hard, i believe, for the Emerging Kerala event. If they can bring in investments to the tune of Rs 1 lakh crore as they expect, that would pave way to the next stage of Industry growth in the state. Kochi will definitely act as the parent city pulling investments.

[DileepKS]

Originally Posted by Malayaali

Having said that IT helps a lot in the brand promotion of the city.

Not really, as many of the 'cyber warriors' believe and try to propagate. If you work at ITVty, what you see around is ITVty, and what you see on the web is ITVty. And if the only thing of significance you have is ITVty, you would think that is the only game in town. IT Helps in brand promotion for IT projects, not for other domains of business.