RUBBER THE RIGHT WAY
Article Abstract:
The Government of India banned the rubber imports under the advanced licence sometime ago. This helped the rubber prices to recover from the past slump. The prices had fallen to a six-year low of Rs24.50 per kg during first week of February 1999. The rubber imports under advanced licence had led to increased volume in the country, which in turn resulted in price fall. During 1998-99 the import is expected to reduce to 17,000 tonnes (30,000 tonnes during 1997-98). The State Trading Corporation, which is holding a stock of 18,900 tonnes of natural rubber, is distributing the rubber at international prices. It is also offering credit and other benefits like exemption from cess and purchase tax. The future increase in price will depend on the consumption from tyre companies. They also depend on Indo-Sri Lanka Free Trade Agreement, which will allow for free import of natural rubber from that country. (um)(psr)
Comment:
The Government of India banned the rubber imports under the advanced licence sometime ago.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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BK MODI GOES BULLISH ON IT, PLANS REVAMP
Article Abstract:
The BK Modi Group of Delhi will restructure itself into two separate groups - Modicorp to concentrate on information technology (IT) and Modi Holdings for all non-IT spheres of business. Modicorp will take Modi Testra and Spice Telecom under its wing and expand and diversify into the Internet Service Provider (ISP) business also. The Rs800 crore Modi Xerox, with a 22 percent market share for fax and 60 percent share for copiers, will also merge into Modicorp later. Modi Holdings will comprise of the paper, rubber and tyre businesses. It has a tie-up with Alcatel where Rs50 crore has been invested for a 51 percent control. The total IT investment of the group is now Rs1,400 crore while half the total turnover of Rs3,000 crore comes from the IT business. (nr)
Comment:
The BK Modi Group of Delhi will restructure itself into two separate groups - Modicorp to concentrate on information technology (IT) and Modi Holdings for all non-IT spheres of business.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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