. Utkal Samachar || Business


Airtel rolls out 4G trials for Bhubaneswar, Cuttack customers

Bhubaneswar: Bharti Airtel Limited (“Bharti Airtel”), the third largest mobile service provider globally with operations in 20 countries across Asia and Africa, has launched 4G trials exclusively for its customers in Bhubaneswar and Cuttack.

Airtel 4G enables superfast internet speeds and allows customers to enjoy capabilities like high definition video streaming with zero buffering, downloading up to 10 movies in less than 30 minutes, uploading entire photo albums in less than five minutes (i.e. uploading two high resolution photos per second), connecting multiple devices without compromising on the experience.

As part of the trial offer, Airtel customers in Bhubaneswar and Cuttack can now avail a complimentary upgrade to Airtel 4G at 3G prices and experience blazing Airtel 4G speeds. The company will assimilate valuable customer feedback from these early adopters and leverage the initial market response towards strengthening its service experience – thus building a world-class 4G network infrastructure in these cities.

Commenting on the launch of Airtel 4G trials in the city, Ravindra Singh Negi, CEO – West Bengal and Odisha, Bharti Airtel Limited said, “As customers in India show an increasing propensity for consuming data services, we at Airtel are excited to take the lead in introducing the market to the power of blazing 4G speeds.Today, as we launch Airtel 4G trials exclusively for our existing customers in Bhubaneswar and Cuttack, our customers in the city will be uniquely positioned to experience faster 4G speeds and wider network coverage – thus delivering a superior 4G experience. We are committed to building a world class 4G network and we will seek feedback from our customers during this trial phase”

Aimed at transitioning more and more customers to superfast 4G experience, Airtel has also announced go-to-market partnerships with Samsung and Flipkart for 4G devices.

Select retail stores of Samsung India will shortly facilitate easy Airtel 4G SIM swap for customers buying 4G smartphones. Airtel 4G double data offers are now available for customers of Samsung Galaxy S6, Galaxy S6 edge, Galaxy A7, Galaxy A5, J5 and J7 mobile devices. In the weeks to come, Samsung will also offer bundled Airtel 4G SIMs along with select Samsung 4G handsets in the Indian market.

Additionally, Flipkart now offers Airtel 4G with double the data benefits for customers buying select 4G handsets. Flipkart-exclusive 4G devices (including brands like Samsung, Xiaomi, Motorola, Lenovo, Asus and Huawei) will come bundled with an Airtel 4G SIM. While existing Airtel customers will be able to follow a quick SMS registration process to activate 4G, non-Airtel customers buying their 4G device from Flipkart will be guided through a simple process to smoothly transition to the Airtel 4G network.

To avail the complimentary 4G upgrade and experience mobile internet speeds like never before – existing Airtel customers with 4G ready mobile devices can walk into their nearest Airtel Store and switch to a 4G SIM or visit www.airtel.in/4g for more information.

Earlier in April 2012, Airtel had launched India’s first 4G services in Kolkata. Airtel’s 4G services are now available across India including recently launched Ambala (City and Cantt.),Karnal, Yamunanagar, Hisar, Rohtak, Nasik, Nagpur, Aurangabad, Mangaluru, Bengaluru, Pune, Chandigarh, Mohali, Panchkula, Ludhiana, Jalandhar, Amritsar, Hoshiarpur, Phagwara, Kapurthala, Moga, Bathinda and Patiala. Further, 4G trials have been launched for existing Airtel customers in Delhi, Hyderabad, Vizag, Madhurai, Chennai, Coimbatore and Mumbai.

Reported By
Utkalsamachar Bureau

Mahindra Forays into branded edible oils segment with ‘NuPro’, launches NuPro Virgin Kachchi Ghani Mustard Oil in Kolkata

Bhubaneswar: The Agri Business vertical of Mahindra & Mahindra, part of the USD 16.9 billion Mahindra Group, announced the launch of its branded edible oil - NuPro for the health conscious Indian consumer. The company, under the NuPro brand, will offer a bouquet of edible oils, the first of which is the NuPro Virgin Kachchi Ghani Mustard Oil.

The brand NuPro is derived from a combination of the words: Nutrition and Progression. NuPro reflects Mahindra’s commitment towards developing progressive farming practices and its close association with the farmers which ensures that only the best quality output reaches the end consumer. To deliver on this brand promise, Mahindra has put in place stringent processes, systems and checks right from the farm to the end consumer.

Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd. said, “Our Agri business cherishes the long-term aspiration of delivering ‘Farm-Tech Prosperity’. Today, with NuPro, we are taking an important step in our Quality journey through the Mahindra Quality Seal (MQS) which serves as an assurance of high quality throughout the value chain from the house of Mahindra.  With our mantra of Growing the Right Quality, Selecting the Right Quality, Preserving the Right Quality, Distributing the Right Quality and Assuring the Right Quality, we are sure of meeting the growing demand for high quality, pure and healthy food products.  Our stringent systems and processes have resulted in a product that stands out in the market in terms of its quality. We are excited about the launch of NuPro branded mustard oil in Kolkata today and we hope that on the basis of unmatched quality, NuPro will establish itself as a premium brand for edible oils and pulses in India”.

Speaking on the launch of the NuPro brand in India, Ashok Sharma, President & Chief Executive – Agri and Africa and South Asia Operations, Mahindra & Mahindra Ltd. said, “At Mahindra with our pioneering vision of ‘Delivering Farm Tech Prosperity’ we constantly strive to support farmers with good agricultural practices by creating awareness about the latest scientific technology and mechanization applications. As a result the farmers we work with have seen drastic improvements in productivity. With NuPro, through our unique Farm to Fork model, we have entered the branded edible oil segment with an aim to connect the farmers with the discerning Indian customers who look for pure products. Our NuPro Virgin Kachchi Ghani Mustard oil is 100% chemical free, has the ideal ratio of Omega 3 to Omega 6 fatty acids that is necessary for a healthy diet and is highly pungent to suit the taste buds of our customers in Eastern India.  We are confident that, with Mahindra’s inherent farmer connect and robust quality systems, NuPro will soon become a brand of choice for Edible Oils.”

NuPro Virgin Kachchi Ghani Mustard Oil is highly pungent and free from any chemical ingredient, providing consumers with the purest form of edible oil available in the market. It contains an excellent ratio of Omega-3 and Omega-6 essential fatty acids which are crucial for optimal health and metabolism. NuPro is priced at Rs. 144/- for a one litre pouch (MRP) and Rs. 2125/- for a 15 kg tin (MRP).

In addition, Mahindra’s ‘Farm to Fork’ model deploys stringent quality checks at various stages in the product value chain right from production, procurement and processing to final packaging and distribution to ensure that there is minimal loss of natural product properties or nutrients. NuPro products comply with the most stringent food safety guidelines laid out by the Food Safety and Standards Authority of India. Further, the company will also stamp its product with the ‘Mahindra Quality Standard (MQS)’ seal to validate its consistent promise of high quality standards. With its stringent set of guidelines the MQS acts as the veritable seal of quality from the house of Mahindra, assuring consumers of the best.

Further to the launch of ‘NuPro Virgin Kachchi Ghani Mustard Oil’, in the two cities of Kolkata and Siliguri, through the traditional FMCG distribution networks, Mahindra will soon explore to expand its footprint in other major mustard oil consuming states such as Bihar, Jharkhand, Orissa and Assam.

With a vision to deliver “FarmTech Prosperity” Mahindra agribusiness closely interacts with farmers to improve their produce quality and productivity by providing latest advances in farm technologies and agricultural know how. It also helps farmers by linking them to the market to provide better returns for their quality produce and thereby improving their lives. With its wide portfolio of inputs viz. Seeds, Agri Chemicals, Micro Irrigation Services backed by high quality advisory through Samriddhi outlets, Mahindra Agri Business has successfully helped Indian farmers increase their productivity over the years. At the same time, it has a strong outputs business consisting of Fruits and Vegetables, Pulses and Edible Oils where again close links with the farmers allow it to provide products that stand for quality and purity. Having grown 8 fold in the last 4 years, Mahindra Agribusiness has become one of India’s largest grape exporter with a strong customer base in Europe and South East Asia, launched India’s first premium fresh fruit brand Saboro, and established a ‘Farm to Fork’ presence across the agri value chain. It also hosts the pioneering Mahindra Samriddhi India Agri Awards, which celebrated its fifth edition in 2014 and has attracted more than 100,000 agricultural innovations and success stories till date.


Reported By
Utkalsamachar Bureau

Reliance, Phantom to work together

Bhubaneswar: Anil Ambani’s Reliance Entertainment announced that its film production and distribution business in India will partner Phantom Films, a company formed by four leading and young creative minds – Anurag Kashyap, Vikas Bahl, Vikramaditya Motwane and Madhu Mantena. The company said this will be a 50:50 joint venture to create a powerful new force in Indian cinema.
“The combination of Reliance and Phantom Films plans to develop and produce at least five-six films every year, apart from distribution of films in India and overseas, and syndication of rights from the over 175 films strong library,” a Reliance statement said.

The proposed combination will leverage the capabilities of the Phantom team, while enjoying access to the domestic and international sales and distribution infrastructure of Reliance Entertainment.

Such an access will include the wide reach of IM Global, a Reliance Entertainment company based in Los Angeles, with operations in North America, Britain and Europe, Asia – Pacific, China, Latin America, etc.

Phantom Films can also leverage the recently announced Reliance MediaWorks-Prime Focus combination in digital, visual and special effects, pre- and post-production and physical studio, with facilities in Mumbai, London, Los Angeles and Vancouver — including Double Negative, the Britain-based digital and visual effects powerhouse, a two time Academy Awards winner for its work in “Inception” and “Interstellar”.

Amitabh Jhunjhunwala, group managing director, Reliance Group, said: “This partnership is in line with our evolving strategy in the media and entertainment business, of aligning with like-minded people who are trailblazers in their own field, and playing the role of supportive investors on our part.”

Vikas Bahl said: “This not only gives us partnership with people we look up to and want to learn from, it opens up our world of learning and access to people and infrastructure which was way beyond our imagination.”

Anurag Kashyap said: “This deal opens up our windows to international opportunities and talent. We hope to optimise on this opportunity and take Indian cinema international, and also attract excellent talent into the country.”

Reliance Entertainment has produced, distributed and released more than 170 films in multiple Indian languages, including successful commercial ones like “Singham”, “Singham Returns”, “Bodyguard”, “Don 2″, “3 Idiots”, “Singh is King”, “Sarkar”, “Guru” and “Attarintiki Daaredi”.

The portfolio includes award winning films like “Paa”, “Abohoman”, “Jaatishwar” and “Shob Choritra Kalponik” (Bengali), “Kutty Shrank” (Malayalam) and “Ijjodu” (Kannada).

 “Known for his high-concept film content, Anurag Kashyap has directed films like ‘Dev D’, ‘Gangs of Wasseypur’, ‘Black Friday’, ‘Ugly’, and ‘That Girl in Yellow Boots’, all of which were screened at Cannes Director’s Fortnight,” the Reliance statement said.

Vikas Bahl has worked on films like “No One Killed Jessica”, “Aamir” and “Welcome to Sajjanpur”. His “Chillar Party” won the National Award in Best Children Film and Best Screenplay.

In 2014, he directed “Queen” at Phantom Films, which not only earned him numerous prestigious best director awards, but also enjoyed commercial success in 2014.

A long time assistant to Sanjay Leela Bhansali, Vikramaditya Motwane’s first film “Udaan” was selected to compete in the “Uncertain Regard” category at the 2010 Cannes Film Festival, and won seven Filmfare Awards. His last film “Lootera” produced by Phantom Films also received substantial critical acclaim.
Madhu Mantena debuted as a film producer with “Ghajini”, starring Aamir Khan, India’s first 100 crore box office film. He has also co-founded CAA Kwan, a talent management company, in partnership with leading talent agency, CAA of the US, and Offroad Films, an ad film production company.

Phantom Films has an impressive slate of six films releasing over the next 12 months, including “Bombay Velvet” starring Ranbir Kapoor, “NH 10″ with Anushka Sharma, “Shandar” with Shahid Kapoor and Alia Bhatt, “Udta Punjab” with Shahid Kapoor, Kareena Kapoor and Alia Bhatt, “Hunterr” and “Ghoomketu”.

Reported By
Pragnya Priyadarshini Saraf
Group Editor

Annual Budget for 2015-16 presented

Bhubaneswar: Pradeep Kumar Amat, the Finance Minister of Odisha today presented the Annual Budget for 2015-16. Amat is expected to present a Budget of around Rs88, 000 crore for the next fiscal, including Plan size of Rs 44, 000 crore and Non-Plan size of Rs44, 000 crore.

The Annual Budget was nearly Rs. 40,000 crore in 2012-13, around Rs 60,000 crore in 2013-14 and Rs 81,720 crore in the current fiscal. A positive trend of Rs 20,000-crore increase in each of these three years was construed an indicator for the jack-up of the 2015-16 Budget size to over Rs 1 lakh crore. 

Reported By
Pragnya Priyadarshini Saraf
Group Editor

100th branch of HDFC opens at Infocity

Bhubaneswar: The 100th branch of HDFC Bank opened at infocity in Bhubaneswar. The branch was inaugurated by Pradip Kumar Amat, Minister of Finance and Public Enterprises, in the presence of Sanjeev Marik, IPS, DGP, and Rajib Shekhar Sahoo, Chartered Accountant. Madhusudan Hegde, Branch Banking Head, HDFC Bank, Debashis Senapati, Zonal Head, HDFC Bank and other senior officials of the bank were also present at the launch. The branch is located at Ground Floor; Plot no E/3, Infocity, Chandaka Industrial Estate, Patia.

The new branch will cater to the local population of just over 50,000 in and around Infocity. Infocity Bhubaneswar is well-known as an IT and education hub, with several IT companies, education institutions and management colleges located in the vicinity. The entire population in Infocity and the surrounding areas will have access to the full range of HDFC Bank’s products and services with the launch of the new branch. 

HDFC Bank has rapidly expanded its branch network in Odisha in the past five years, on its journey to the 100th branch milestone. This journey began with its very first branch in the state, which was set up at Bhubaneswar in 2001. Since then, it has also leveraged technology to provide banking services through multiple digital channels such as net banking and mobile banking. HDFC Bank is today reaching out to an increasing number of people across the state. 

At a national level, HDFC Bank has 56% of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavor to support inclusive growth. As of September 30, 2014, the Bank had a distribution network with 3,600 branches and 11,515 ATMs in 2,231 cities/towns.

The Bank has made significant headway in its multichannel servicing strategy in Odisha, providing customers the use of its complete range of products and services. It offers, under one roof, products ranging from basic services such as Savings Account, Fixed Deposits, Current Account, Two-wheeler loan, Auto loan, Commercial Vehicle Loan, Kisan Gold Card, Agri and Commodities Loans to direct access banking channels such as, Phone Banking, Net Banking and International Credit and Debit Cards.

Reported By
Pragnya Priyadarshini Saraf
Group Editor

Interest rates of RBI remain unchanged

Bhubaneswar: According to the sixth bi-monthly monetary policy statement of the Reserve Bank of India, it has been decided to unchange its interest rates. Raghuram Rajan, the Governor of RBI said that there was no substantial development on inflation or fiscal fronts since January 15, it is appropriate for the RBI to wait them and maintain the current interest rate stance.

The apex bank kept the repo rate, or the interest that banks pay when they borrow money from the RBI to meet their short-term fund requirements, unchanged at 7.75 percent.

The reverse repo rate, or the interest that the RBI pays to commercial banks when they park their surplus short-term funds with the central bank, has been adjusted to 6.75 percent.

On Jan 15, the apex bank had cut the repo rate by 25 basis point from 8 percent to 7.75 percent.

On Tuesday, the RBI reduced the statutory liquidity ratio (SLR), the mandatory amount of bonds lenders must keep with it by 50 basis points to 21.5 percent of their net demand and time liabilities (NDTL).

The Cash Reserve Ratio (CRR) is left unchanged at 4 percent.

Reported By
Utkal Samachar Bureau

Budget session of parliament from Feb 23

Bhubaneswar: On February 23 Parliament session will start and the union budget would be present February 28. From the sources, the first part of the session would be from Feb 23 to March 20 and the second part from April 20 to May 8. The railway budget would be presented on February 26 and the economic survey on Feb 27.

The parliament session has taken decision at a meeting of the Cabinet Committee on Political Affairs held in parliament. Mr. Pranab Mukharjee, the President of India will address and start the session to a joint sitting of both the houses – Lok Sabha and Rajya Sabha.

For the duration of the session, the government will seek to try and get bills on six ordinances promulgated recently passed.

The ordinances include those on coal, mines and minerals, e-rickshaws, amendment to citizenship act, land acquisition and one on FDI in insurance sector.

Reported By
Utkal Samachar Bureau

New Branch of HDFC Bank opens in KIIT

Bhubaneswar: A new branch HDFC bank was opened at KIIT University in Bhubaneswar on January 16, 2015. The new branch was inaugurated by Dr. Achutya Samanta, Founder, KIIT & KISS in the presence of senior HDFC Bank officials including Mr. Debashis Senapati, Zonal Head; Cluster Heads  Arjunananda Bagh and Ananta Patnaik and Soubhagya Manjari Sahoo, Branch Manager.

Speaking on the occasion, Dr. Samanta said, various banks, including HDFC, have shown interest to operate their branches in KIIT premises. He emphasized on customer friendly banking services. In his welcome address, Mr. Senapati said, the extensive branch network of the bank reflects its commitment to take formal banking services to every part of Odisha. As of September 30, 2014, the Bank had a distribution network with 3,600 branches and 11,515 ATMs in 2,272 cities/towns, he informed. At national level, the Bank has 56% of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavor to support inclusive growth, Mr. Senapati stated.

The new branch will offer customers world-class banking services under one roof - ranging from basic services such as Savings Account, Fixed Deposits, Current Account, Mutual Funds, NRI, Insurance, Two-wheeler loan, Auto loan to sophisticated direct access' banking channels such as ATM, Phone Banking, Net Banking and International Credit and Debit Cards, he informed.

The new branch is located at KIIT University, Campus-3. It will remain open six days a week, offering users the flexibility to carry out their banking transactions at the time most convenient for them. This is the 13th branch of HDFC bank in Bhubaneswar.

Reported By
Utkal Samachar Bureau

OGCF 2015 inaugurated.

Bhubaneswar: The inaugural ceremony of Oil & Gas Conservation Fortnight (OGCF) 2015 was held at Jayadev Bhawan here on January 16, 2015.  “
Attending the function as chief guest, NALCO Chairman-cum-Managing Director Ansuman Das stressed upon the need to conserve petroleum products which not only save money, but also the environment.

He stressed upon the need of Government machinery in the State to be associated with oil industries in a bigger way for the noble cause to create awareness among all sects of people about the importance of oil and gas conservation.

General Manager of Indian Oil Corporation Limited KK Sharma elaborated on the activities planned to raise awareness about oil and gas conservation in the State.

During the fortnight, oil industries, jointly with Petroleum Conservation Research Association (PCRA), will conduct training programs for drivers on better driving habits to save fuel. Workshops will be conducted for housewives on better cooking habits to save LPG. Across the State, quiz, debate and painting competitions will be organised in schools and colleges to emphasise upon the importance of conservation.

CRM HPCL Arnab Saha, Area Marketing Manager BPCL RK Chouwhan and Joint Director of PCRA Debasis Ransingh also spoke on the occasion.
NALCO Chairman-cum-Managing Director flagged off the walkathon and human chain, participated by school children, employees of oil industries and other citizens.

Reported By
Utkal Samachar Bureau

Government committed for providing various supports to MSMEs, says Chief Minister

Bhubaneswar: Chief Minister Naveen Patnaik inaugurated the MSME Trade Fair 2015 organised by Micro, Small and Medium Enterprises (MSME) Department at IDCO exhibition ground on January 8, 2014. The main objective of organising the fair is to provide marketing support to the MSMEs in the State.

Addressing the inaugural function, Chief Minister said that the Government is committed for providing various supports to MSMEs. The Government is also contemplating to bring out a procurement policy for Micro & Small Enterprises (MSEs) in the State. An initiative in the name and style of MSME Bazar has been taken up by to give exposure to the MSMEs of the State, where the local entrepreneurs can upload their product brochure, purchase procedure on a developed website. Odisha is one of the few states to have brought out State Export Policy 2014 with the objective to boost export by 10 percent every year, he said.

“Credit is a major focus area for a sustainable growth of the MSMEs. The micro enterprises of yesterday are the large corporates of today and could be MNCs of tomorrow. Thus the banks and other agencies should take pride while servicing the MSMEs as they are playing an instrumental role in the formation of large industries of tomorrow. The coverage of credit to the entrepreneurs of the State is dismally poor. During the current financial year as on September 2014, only 6.7 percent of the credit has been covered under the credit guarantee scheme of Government of India. I call upon the banks to proactively consider covering more and more of the first generation entrepreneurs under the said scheme in fulfilling their dreams of setting up units. The Reserve Bank of India had constituted a working group to study the problems of Micro and Small Enterprises (MSE), particularly with respect to rehabilitation of potentially viable sick units.   It has given elaborate guidelines for rehabilitation of sick units. I urge all banks to follow the guidelines with all seriousness to create a win-win situation for them and the entrepreneurs”, he added further.  

Among others present were MSME Minister Jogendra Behera, Tourism & Culture Minister Ashok Chandra Panda, Member of Parliament Dr. Prasanna Patasani, MLA Bijoy Mohanty, MLA Priyadarshi Mishra, Chief Secretary Gokul Chandra Pati and MSME Secretary Panchanan Dash.

Reported By
Utkal Samachar Bureau

MSME Trade Fair from January 8 to 14.

Bhubaneswar: Odisha MSME Trade Fair- 2015 will be held from January 8 to 14, 2015 at IDCO Exhibition Ground, Unit-III.

Odisha Chief Minister has given his kind consent to inaugurate the event. Odisha MSME Trade Fair is an annual event organised by the Department of MSME, Government of Odisha with an objective to provide an enabling platform to MSMEs for exploring new market and expose them to technological advancements. The event has been a hallmark of the department for the last three years and holds immense importance for government as well as entrepreneurs, said MSME secretary Panchanan Dash at a press conference here.

Here MSMEs are given a platform to showcase their products and services along with an opportunity to imbibe advancements in technology which are displayed at this mega event. Credit facilitation and information dissemination for facilitating entrepreneurs in the sector would be taken up through Banks and different agencies. Large industries also harp on this opportunity to identify potential suppliers, vendor development and downstream activities. The event is a destination for several delegations comprising of buyers, participants and service providers etc. from various states all over India and has thus become a brand of immense value and tremendous potential.

It is proposed to have around 300 stalls for participation of MSMEs, Large Industries, Banks and Promotional Agencies. Seminars on different themes and concepts, Buyer's Sellers Meet (B 2 B & B 2 C) having investors from both Odisha and outside Odisha from various domain of small and medium enterprise especially Food Processing, Plant & Machinery Suppliers, Technology and Service providers etc. would be an integral part.

Looking at the scope and potential of Food Processing Sector in the State, Food Processing has been kept as the focus of this year's event. A special hanger has been dedicated for Food Processing in which several food processors as well as technology suppliers from within as well as outside State would participate. Different seminars have also been scheduled for each day during the mega event. Food Processing, Tourism, Vendor Developments, Cluster Developments, Credit Flow would be the topics of the seminars / workshops. Directorate of Export Promotion & Marketing (DEP&M), Directorate of Industries and Odisha Small Industries Corporation Ltd. (OSIC) and supported by All Industries Associations of the State are involved in organizing the event.

Several Corporate, Central & State Government Departments and PSUs, Large and Mega Industries, Service Providers, Banks, Financial Institutions, Educational Training Institutions, etc. are participating in the said trade fair. The several display profiles proposed for the event are: Engineering & Metal Based, Drugs & Chemicals, Plastic & Polymers, Agro Based & Food Processing Industries, Information Technologies / ITES / ESDM, Textile & Readymade Garments, Handloom & Handicrafts, Transport & Tourism and Packaging.

Reported By
Utkal Samachar Bureau

Russia awards Sesa Sterlite for “Best Energy Efficiency Projects realized abroad”.

Bhubaneswar: Sesa Sterlite Limited, Jharsuguda participated in the 3rd International Forum for Energy Efficiency and Energy Savings (ENES) held on November 20-22 in Moscow organized by Russian Government and was awarded top honour as “Best Energy Efficiency Projects realized abroad”. The company had submitted papers on four new innovative projects carried out in-house for energy efficiency improvements which were selected as best energy efficiency projects realized by experts from Russian Ministry of Energy.

On behalf of the company Mr. Dayanidhi Behera and Bijneswar Mohanty received this prestigious award.

Ministry of Energy Government of Russia has conferred this much coveted award to SSL, Jharsuguda in the BRICS Experts Consultation on Energy Efficiency held during the ENES summit. This is the first such prestigious award received by SSL in international forum.

Sesa Sterlite Limited (SSLT) is one of the world’s largest diversified natural resources companies, whose business primarily involves exploring and processing minerals and oil & gas. SSLT produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sustainability is at the core of SSLT’s strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is a subsidiary of Vedanta Resources Plc, a London-listed company. SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

Reported By
Utkal Samachar Bureau

IT Expo to kick start on November 6

Bhubaneswar: IT Expo is scheduled to kick start from November 6 to 10, 2014 at exhibition ground by Information Technology Association of Odisha (ITAO).

Major IT vendors have confirmed their participation to showcase their products and services. The vendors or manufacturers are provided pavilions and stalls in the AC hanger where they exhibit their products involving the local dealers from the State. By this way the consumers of Odisha will have the advantage of price and value for the product. This also estimates the price war between local dealers which affects the market even after the IT Expo.

The Expo will be unique for its AC hanger ambiance and product variedness. Maximum of computer hardware and software vendors are participating in this IT Expo as this Expo has a unique option of having conference hall for product launch and technical discussion on companies, electronic surveillance companies, video conferencing and GPS tracking system providing companies have planned to showcase their products.

Reported By
Utkal Samachar Bureau

New model of Black Berry launched

Bhubaneswar: The Flagship Smartphone BlackBerry Passport launched has been launched in India. The price is Rs. 49,990. Sunil Lalvani, the managing director of BlackBerry in India said, “Passport symbolises mobility. The size of this mobile is portable enough to easily tuck into pockets and handbags. The phone has a large square touch screen and new QWERTY touch-enabled keyboard. Its wider screen will give added edge to power professional”. This is the second phone out of BlackBerry’s stable this year in India. The company is planning to launch another handset by February 2015.

He also said, “We will launch BlackBerry Classic by February in India. The final date has not been fixed yet. The famous track pad will be back with that phone”.

Pre-booking for BlackBerry Passport in India started in e-commerce portal Amazon on Monday and will continue till Oct 10. It can also be pre-booked at all BlackBerry exclusive stores. After that it will be available in retail stores.

The BlackBerry Passport has 4.5 inches square screen and operates on BlackBerry 10.3 operating system, including new features like BlackBerry Assistant, BlackBerry Blend and Amazon Appstore.

It has 3450 mAH battery that has the potential to last around 30 hours. The phone has Quad Core 2.2 GHz Processor with three GB RAM and 32 GB memory and 13 mega pixel rear and two mega pixel front cameras.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Free Facebook, Whatsapp services with Aircel

Bhubaneswar: Now the customers of Aircel services can get free Facebook & Whatsapp in their phones. Aircel has introduced free Facebook and Whatsapp on all pocket internet packs in Odisha and across the country for its new and existing customers to give them freedom to access the two popular services 24×7. Customers can also buy special social PI pack for Rs 25 with a validity of 28 days depending on their social needs. Aircel will also be introducing its new TVC –Dilon Ko Laaye Extra Paas – with the Aircel Internet service soon.

 Anupam Vasudev, chief marketing officer, Aircel, said, “The new campaign is in line with Aircel’s brand positioning to deliver extra by converting ordinary into extraordinary through its innovative products and services. The phenomenal upsurge in smartphones and data penetration has led the youth to be connected 24×7 through various social networking platforms. Our superior 3G services will offer extra data exclusively for Facebook and Whatsapp usage, thus empowering our customers to be socially connect always.” All new customers taking Aircel connection will get 100 MB/month for 2 months to access Facebook and Whatsapp without any additional charges. While existing 2G and 3G customers will get an additional 10 MB/day extra for usage on Facebook and WhatsApp on all Pocket Internet recharges. “When the client and the agency work as one team, the results are always delightful. This campaign is an apt example of such collaboration. There is a shared vision and the wholeteam has done an exceptional job .I am sure the audience will warm up to the idea,” said Prasoon Joshi, executive chairman, McCann Worldgroup, India and Regional Creative Director for Asia Pacific.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Tata Motors gives two new models every year

Bhubaneswar: The lovers of the Tata Company now get two new models every year. Ranjit Yadav, the president, passenger vehicles business unit Tata Motors said, “The Company will be coming up with two new models every year as part of the new strategy. This year we have the Zest and the Bolt, and the next year we will have two new models to add to our product portfolio”.

According to Yadav, the company will launch the Bolt, its second offering for the year, in the coming days after evaluating the market conditions.
The move assumes significance as the company has seen a deterioration in its passenger vehicle sales in the past few months.

Tata Motors further added that the new vehicle is placed in the same segment as its Indigo CS and that there won’t be any brand cannibalization.
The new model comes in versions powered by both diesel and petrol engines. The petrol version comes with a new 1.2 litre in-house developed Riverton engine with multi-drive mode — sport, economy and city mode.

Girish Wagh, senior vice president, programme planning and project management, passenger vehicles of Tata Motors said, “We are looking on the engine and new variant powered through different fuel options like renewable ones can be expected”.

The diesel powered variant is powered by a 1.3 litre quadrajet diesel engine coupled with five-speed automated manual transmission (AMT) which allows for both automatic and sequential mode of gear-shifting.

The vehicles are priced between Rs.4.64 lakh and Rs.5.99 lakh (ex-showroom Delhi) for the petrol range and Rs.5.64 lakh to Rs.6.99 lakh for the diesel range.

The petrol version gives a mileage of 17.6 km/litre and the diesel version delivers a 23 km per litre mileage.
Both the versions are BS-IV compliant and have gone through low intensity impact test and certification. Exports for the vehicle are expected to start in the next six months.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Cheapest Car now in Odisha

Bhubaneswar: The Cheapest car Audi A3 Sedan was today launched in State capital. It is the first compact luxury car.

Adjudged the World Car of the Year 2014, the Audi A3 Sedan is packaged with youthful design, visionary technology and luxurious performance. It sets new benchmarks in the compact luxury car segment with quality, style and innovation at the forefront. The Audi A3 Sedan is priced at INR 23, 72,000 /- ex-showrooms Bhubaneswar.

“The launch of the Audi A3 Sedan, the first compact luxury sedan in India, is yet another first from Audi. In line with our customer-centric approach, we decided to launch the sedan version of the Audi A3, which is a segment up from the compact luxury hatchback. Sporty, stylish and path-breaking, the Audi A3 Sedan showcases Audi’s ‘Vorsprung durch Technik’ in every single aspect, especially in the areas of design, ultra-lightweight technology, efficient drive trains, high-end multimedia and infotainment systems. We are confident that the Audi A3 Sedan is the right product at the right time and will set new benchmarks,” said Mr. Joe King, Head, Audi India.

He also said, “The Audi A3 Sedan combines Sportiness, Emotion and Progressiveness, making it a perfect representative of the Audi Sedan Line. It inherits all the genes that embody an Audi making it truely ‘luxury without compromise’. Audi India is the market leader in the luxury car segment in India and we are confident that the Audi A3 sedan will further consolidate our leadership position in the luxury car market”.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Audi A3 Sedan India’s cheapest car

Bhubaneswar: Audi launched its cheapest car at a starting price of Rs. 22.95 lakh (ex-showroom, Delhi).  At the 2014 Delhi Auto Expo, the A3 sedan finally launched. It is the country’s cheapest car. This is also available in 5 variants. The petrol variant priced at Rs. 28.95 lakh, the other four are diesel variants.

With such an aggressive pricing, the A3 will not just be a threat for other entry-level luxury cars, but might also affect the sales of D2 segment cars and premium SUVs. Also, the Mercedes-Benz CLA-Class will be a direct competitor for the A3 upon its launch by December, 2014.

Built on Volkswagen's versatile MQB platform, which also underpins several other Volkswagen Group cars, the A3 sedan is Audi India's cheapest and smallest vehicle till date. It measures 4,456mm in length, 1,796mm in width, 1,416mm in height along with a wheelbase of 2,637mm, which makes the A3 spacious enough to comfortably accommodate five people. Also, the vehicle has an impressive boot space of 425-litres.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Samsung Galaxy Star 2 Plus launched

Bhubaneswar: Samsung has launched another Android 4.4 KitKat-based Smartphone in India, dubbed the Samsung Galaxy Star 2 Plus. The device is now officially listed with 'Notify Me' option by the company on its online store carrying a price tag of Rs. 7,335.

An upgrade of sorts on the Samsung Galaxy Star 2, the listing of the Star 2 Plus with model number SM-G350E was earlier tipped by a Mumbai-based retailer as Galaxy Star Advance with launch price of Rs. 7,299.

According to the listed specifications, the dual-SIM Samsung Galaxy Star 2 plus will run Android 4.4 KitKat out-of-the-box. It features a 4.3-inch WVGA (480x800 pixels) TFT display. The smartphone packs 1.2GHz dual-core (unspecified chipset) processor coupled with 512MB of RAM. It sports a 3-megapixel rear camera with LED flash, while there is no front facing camera onboard. The 4GB of inbuilt storage on Samsung Galaxy Star 2 Plus can be expanded further up to 32GB (via microSD card).

Connectivity options on the device include 3G, Wi-Fi, Bluetooth, and GPS. The Galaxy Star 2 Plus packs an 1800mAh battery. It measures 129.7x65.9x9.4mm and weighs 138 grams. The Smartphone will be available in Black and White color options.

The Samsung Galaxy Core 2 supports dual-SIM and runs Android 4.4 KitKat out-of-the-box with the company's Touch Wiz Essence UI on top. It comes with a 4.5-inch WVGA (480x800 pixels) TFT display. It is powered by a quad-core processor clocked at 1.2GHz coupled with 768MB of RAM.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Flip Kart launches its first Tablet

Bhubaneswar:Launched in October 2007, Flip kart offers 15 million products across 70 categories. With 18 million registered users, the portal claims to have 3.5 million hits a day and five million shipments a month.

India’s largest e-commerce launched its first tablet. Digiflip Pro, at Rs.9999.The tablet comes in black and white variants with shopping benefits worth Rs.5,000 and free e-books valued at Rs.2,000 from the company.

“Launching our own tablet, we have taken another step towards building an entire e-commerce ecosystem in the country. With one of the largest user bases, we have access to huge data that allows us to predict what kind of products and services will work in the market,” Flipkart vice president Michael Adnani said in a statement here.

With a dual SIM 3G calling facility for faster data connectivity and voice calling, the seven inch size tablet has a 1.3 gigahertz (GHz) quad core cortex processor and one gigabyte memory.

Service for tablets will be available through the company’s 120 network centres in over 100 cities across the country.

“Customers across 13 cities, including Delhi, Mumbai, Bangalore, Chennai, Kolkata and Hyderabad can avail of 24-hour service by visiting any of the 22 centres we have partnered with in these cities.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

BMW X5 in India by month end

Bhubaneswar:BMW India Pvt. Ltd., the Indian subsidiary of German auto major BMW has started rolling out the new BMW X5 and initial deliveries will start by this month end.

In a statement issued here, BMW India said the over Rs.7 million priced BMW X5 was rolled out Thursday.

“Initial deliveries of the all-new BMW X5 in India will commence by June end,” the company said.

“We might also consider ramping up the production to meet the huge demand in the Indian market,” Philipp von Sahr, president of BMW Group India, was quoted as saying in the statement.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

ZenFone 6 to be Launch in India on July 9

Bhubaneswar: Indians will now be enjoying with the stylish Asus's ZenFone 6, the biggest model which will be introduced on July 9. Asus will have a device at every size ranging between 4, 4.5, 5, 5.5 and 6 inches.

This model sports a 6-inch HD screen. Unveiled at CES 2014, this is powered by Android 4.4 (Kit Kat) mobile operating system and has a 2GHz dual-core Intel Atom Z2580 chipset under the hood.

ZenFone 6 comes in 8, 16 and 32GB storage options and supports external storage up to 64GB via microSD cards. Depending on the storage, the model comes with 1 or 2GB RAM. This has a 13MP camera with LED flash on the back and a 2MP camera in front.

In January 2014, Asus ZenFone 5 has a 5-inch screen with 720p resolution and runs on Android 4.4 (KitKat). It will come with 8 and 16GB internal storage (and micro SD support up to 64GB) along with 1 and 2GB RAM respectively.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

iBerry launches new phone, tablets

Bhubaneswar: In the age of technology there are various types of electronics things launched as per the demand of the people. Auxus Linea L1 & Auxus AX04 comes to the market within a short period of time.

iBerry has introduced this new phone and tablets that will be sold exclusively through e-commerce marketplace eBay starting from June 25.
“Both the products are made keeping in mind budget-conscious Indian consumers and offer the latest Android version Kitkat 4.4.
The new Smartphone Linea L1 is priced at Rs.6, 990 and the new tablet model comes with a price tag of Rs.5990.
“Both the products are backed up by our 400 plus service centres across India,” the company said.

“Both the products are targeted to the budget conscious Indian consumers and we are confident that this series will be well received,” said Feroz Ahmed, chief operating officer and co-founder of iBerry India.

Vidmay Naini, business head, technology category PaisaPay & Power Ship, eBay India, said: “We are delighted to announce the exclusive availability of the iBerry’s latest offerings Auxus Linea L1 Smartphone and Auxus AX04 tablet on eBay India.”


Reported by
Pragnya Priyadarshini Saraf
Group Editor

Reliance Industries to invest $30 billion in next three years

Bhubaneswar:Mukesh Ambani, the chairman & managing director of Reliance Industries plans to invest Rs.180, 000 crore ($30 billion) across its businesses including oil and gas, retail and telecom.

In the 40th Annual General Meeting Ambani said to share holders that the company has outlined its expansion strategy across the businesses and aims to become a Fortune 50 firm in the next 2-3 years.

“In the past 37 years, we invested Rs.240, 000 crore and in the current three years’ investment cycle, we will be investing over Rs.180, 000 crore,” Ambani said. He also said “We are currently at the mid-point of the largest investment programme in Reliance’s history.

In the next three years Reliance Industries will creates the history. “The next two years, 2014-15 and 2015-16, will see us focused on executing and progressively bringing these projects on-stream in petrochemicals, refining, retail and Jio,” he said.“The year 2016-17 will be the first full year in which the complete benefits of all these investments will be available to our shareholders, customers and society,” he added.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Flash Statistics 2013-14 released by Smriti Irani

Bhubaneswar:Smriti Irani, the minister of Union Human Resource Development released the Flash Statistics. This Statistics are prepared annually by National University of Educational Planning & Administration (NEUPA).

They were presented to the Minister by the Vice Chancellor of NEUPA, Prof. R. Govind in the presence of Secretary (SE&L) Shri R Bhattacharya, Additional Secretary (EE) Smt. Vrinda Sarup and other senior officials of the Ministry. This is cover 1.45 million schools spread over 662 Districts across all States and UTs. The District Information System for Education (DISE) is a district based data base and gives information for school, block, district, State & national disaggregates.  It also contains an Educational Development Index (EDI) based on four constituents of Access, Infrastructure, Teachers and Outcomes. The State ranking based on the EDI reveals that Pondicherry, Lakshadweep, Sikkim, Himachal Pradesh & Karnataka are ranked in the first five.  The DISE 2013-14 data can be accessed at website www.dise.in 

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Petrol, diesel, liquor prices hiked

Bhubaneswar:The prices of petrol & diesel hiked, after the re-introduction of VAT by BJD Government in Odisha. Pradeep Kumar Amat, the Finance Minister presented Rs 80139.58 crore budget for 2014-15. This budget proposed to raise the tax rate on liquor from 20% to 25% and that on petrol and diesel from 18% to 20%. The government estimate is that the increase in tax rates in the two categories will fetch additional revenue of Rs 375 crore per annum. The tax revision is being mooted in apprehension of a slower recovery of the economy of the State that grew by only 5.6% in 2013-14 as per advanced estimates of the Economic Survey.

In the capital petrol Rs 71.89 and diesel Rs 61.65,  in Cuttack petrol Rs 71.55, diesel Rs 61.35, Rs 71.89 & Rs 61.65 in Sambalpur, and Rs 71.55 & Rs 61.35 in Balasore.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Rupee fell to 60.34 against dollar

Bhubaneswar:The Indian rupee fell to 60.34 against dollar in early morning of Friday. It is the 27 praise lower than its previous day's close at 60.07. Rupee strengthened by 7 praise on yesterday close time. The value of one US dollar was quoted at 60.26 rupee at the interbank foreign exchange markets. It touched a high of 60.21 in the previous day. The Indian currency weakened tracking losses in other Asian peers and weak stock markets. Most of the Asian currencies were quoted weaker against the US dollar. Benchmark index of the Bombay Stock Exchange sensed fell 146.94 points or 0.65% to 22568.39 points in early trade while the wider 50 scrip S&P Nifty of the National Stock Exchange (NSE) was down 0.54% at 6759 points.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Reliance rise in 5631 crores Profit

Bhubaneswar: : Reliance Industries reported a marginal rise in net profit to Rs 5,631 crore in the fourth quarter ended March 31 from Rs 5,589 crore a year earlier. Turnover rose 13 per cent to Rs 97,807 crore, Reliance said in a stock exchange filing. The company announced a dividend of Rs 9.50 per share.
Mukesh Ambani-CEO of Reliance Industries Ltd (RIL) Friday said in 2013-14 with a net profit of Rs.21.984 crores on a turnover of Rs.401,302 crores, up from a net profit of Rs.21,003 crore on a turnover of Rs.371,119 crore earned during the previous fiscal. Reliance Industries

In a statement issued here, the company said higher prices accounted for 7.7 percent growth in revenue while increase in volumes accounted for 0.4 percent growth in revenue. Exports were higher by 15.3 percent at Rs.275, 825 crore ($ 46.0 billion) as against Rs.239, 226 crore in 2012-13, it said. Higher crude oil prices resulted in 7.6 % increase in cost of raw materials from Rs.306,127 crore to Rs.329,313 crore on year-on-year basis.

RIL Chairman and Managing Director Mukesh D Ambani said “FY 2013-14 was a satisfying year for RIL. Refining business delivered the highest ever profits with a sharp recovery in GRMs towards the end of the year. Petrochemical earnings grew sharply with margin expansion across polymers and downstream polyester products. He also said the retail business has turned around and is now India’s largest retail chain while efforts have been accelerated to roll out 4G services in the telecom segment.

Reported by
Pragnya Priyadarshini Saraf
Group Editor

Polls to delay Biju Patnaik Airport’s international operations

Bhubaneswar:While domestic passengers from Bhubaneswar had a reason to cheer on Sunday afternoon with lift-off of two new flights from here, for those packing their bags for an international destination the wait just got longer.

With electioneering for the Lok Sabha polls gaining momentum across the country, it has cast a shadow on the commencing of international operations at the Biju Patnaik Airport here which was accorded international tag last year.

A top airport official, on condition of anonymity said “The government machinery at the Centre is engaged in the forthcoming election and, approval for international operations at the airport can only be expected after the polls.”

“It (operation approval) could have been possible couple of months back. But it seems bleak at this point of time”, he added.

On the other hand, industry observers fear if the Civil Aviation Ministry does not approve the proposal by end of March or early April, the chances of international flights operating from Odisha will be delayed by another six months.

“The model code of conduct has put a brake on proposal clearance and there is a remote chance of the Ministry clearing airliners applications and giving green signal to start operations, an industry analyst said adding the Election Commission (EC) might reject Ministry’s approach citing the move may influence voters.

“The approval will now be given post elections. It seems, international flyers wishing to take off from Bhubaneswar will have to wait for the new government’s nod”, he stated.

Tour operators here in the temple city too have started dreaming big about the international flightoperations which they say would enhance the culturally rich status of the state.

“Undoubtedly there are a lot of things to be explored in Odisha. Not only the operations of theinternational flights will help boost the economy of the state but cultural exchange will go to a greater extent”, said Smarki Pradhan, Manager (Outbound), Swosti Travels.

A meeting chaired by Chief Secretary JK Mohapatra in January had revealed that Fly Dubai evinced interest to start direct flights from Dubai to Odisha while Air Asia will connect Bhubaneswar with Kuala Lumpur. Silk Air, another low-cost airline had also evinced interest to include Bhubaneswar as a stop-over on its Kolkata-Singapore route.

Besides, four private domestic airliners including Spice Jet, Go Air, ABC Airways and Air Costa have expressed willingness to start flights each from April 1.
However, the Civil Aviation Ministry has not responded to any of the proposals prompting the State Government to make a fresh request to clear the proposals.

Meanwhile, to attract international airliners, the Odisha Government has slashed VAT on aviation turbine fuel (ATF) from 20 to five per cent and offered free night parking at the airport.

IndiGo has launched two flights to Visakhapatnam from Bangalore and Bhubaneswar from Sunday. While the flight from Bangalore to Visakhapatnam via Bhubaneswar will leave from Bangalore at 11.45 am and reach Vizag at 2.55 pm on every Monday, Thursday and Saturday, in the return direction, the Visakhapatnam-Bangalore flight via Bhubaneswar will leave from Vizag at 1.45 pm and reach Bangalore at 5.15 pm on every Tuesday, Wednesday, Friday and Sunday.

Reported by
Abhishek Mohanty
Special Correspondent

Bank of Baroda opens new Branch at Nua Bazar

Bhubaneswar:Bank of Baroda added one more branch in Odisha Region. The new branch (the 6thBranch in Cuttack City) was opened at Nua Bazar, on March 25, 2014. The Branch was inaugurated by S K Shaw General Manager, Zonal Head and G.B. Panda, Deputy General Manager; Regional Head of Odisha Region was present on the occasion. Mr. Panda declared that the Branch will cater to the banking needs and requirements of the people of Nua Bazar, Cuttack and its areas. He also informed that the Bank has ambitious plans to open more branches at unbanked areas for the financial year 2014-15 in Odisha.

He also appealed the citizens to take advantage of the ongoing Retail Loan Campaign which has the lowest rate of interest of 10.25 percent for Housing loan and 10.50 percent for Car loan.  On the occasion, the staff members and valued customers of the Bank were present. Sri.Chitaranjan, Branch Manager of the newly opened Branch thanked all dignitaries and valued customers and promised to fulfill the expectations of all sections of customers.    

Reported by
Abhishek Mohanty
Special Correspondent

IOC plans Rs7, 650 cr Petrochem Project

Bhubaneswar: Indian oil corporation (IOC) is planning to set up a petrochemical complex at its almost complete refinery at Paradeep in Odisha, in the next 3-4years with an investment of Rs7, 650 crores. The complex will manufacture plastic using propylene from cracked LPG and ethylene from refinery off gas. The plastic can be used for producing furniture, disposable cups and trays as well as printed packaging material, plain and transparent films, food packets and pressure-sensitive tapes.

“While the cost of the refinery excluding the petro-chemical complex is estimated at Rs 29,777 crores.IOCL has already committed Rs 4,680 crores” said State Industry Minister. The state run oil company agrimate loan for Rs14, 900 crore with a consortium of 21 lenders led take finance by SBI to Paradeep project in the month of May this year.

Mr. Mohanty said “Nearly 124 families in Ersama block will be displaced due to the project and out of them by families have agreed to stay in resettlement colonies. Apart from the refinery the centre propose to establish a petroliams, chemicals and Pietro.chemical investment of Rs 28,000 crore.
The Odisha government is reported to have assured the IOC to expatriate the process of allotment of land. The company plans to source the rsquir water from river of Mahanadi and pump it through a pipe line to Paradeep.

The refinery will have a Nelson Complexity Index of 13, the highest in the world. It will also produce 5.75 million tonnes of diesel, 3.4 million tonnes of petrol, 1.2 million tonnes of kerosene/ATF 870,000 tonnes of LPG, 1.25 million tonnes of pet coke and 200,000 tonnes of sulphur, all of which be for sale in domestic market.

Reported by
Pragnya Priyadarshini Saraf

ICAI holds seminar on Bank Audit 2014

Bhubaneswar: A seminar on Bank Audit 2014 was conducted by The Bhubaneswar Branch of The Institute of Chartered Accountants of India (ICAI). The seminar was held in view of the year ending 31st March, 2014 and the enormous responsibility cast on auditors across the country to carry out the exercise of audit of various public sector banks.

The seminar had in its Inaugural session CA. Rajib Sekhar Sahoo, Independent Director, Bank of Baroda as Chief Guest, Shri Krishna Mohan Trivedi, CGM, State Bank of India, Local Head Office, Bhubaneswar as Guest of Honour, CA. Sarat Chandra Bhadra , Past Central Council Member, ICAI as Chairman Technical Session , CA. Partha Sarthi Mishra  Chairman of Bhubaneswar Branch and CA. Amit Kumar Agarwalla, Secretary of Bhubaneswar Branch.

In the technical session, Eminent Speaker CA. Niranjan Joshi, from Mumbai, expert on conducting Bank Audit discussed Overview of Bank Audit- LFAR and Certifications. The other speakers, also an expert form Bhubaneswar, CA. Mahendra Kumar Agrawala, enthralled the audience with illustrative examples in Income Recognition and Classification of Advances. The seminar was attended by over 300 Members and students from the fraternity. 

Reported by
Abhishek Mohanty
Special Correspondent

Entrepreneurs’ Week inaugurated in city

Bhubaneswar: Odisha celebrates the 10th edition of Entrepreneurs Week from 5th to 11th March, 2014. Entrepreneurship empowers all. Entrepreneurship is increasingly recognized as an important driver of economic growth, productivity, innovation and employment, and it is widely accepted as a key aspect of economic dynamism. The role of entrepreneurship is not confined only to creation of enterprises, but also includes creation of the capacity to produce wealth, jobs and income, which are the most direct indicators of economic development. In fact, underdevelopment is not because of the lack of resources but because of the absence or inadequate supply of entrepreneurs.  The developed nations have a good pace of entrepreneurial supply while the developing nations suffer from shortage of entrepreneurs. This is one of the reasons for the poverty in developing countries, despite their rich natural resources. Keeping this in view the MSME Department has ventured into conducting series of Programmes at grass root level to promote and encourage innovation and entrepreneurship among the youth of Odisha. The present celebration is aimed at creating an entrepreneurship culture in the State.

Sri U N Behera, IAS, Additional Chief Secretary to Government of Odisha, Finance Department, Sri Panchanan Dash, Secretary, MSME Department, Sri Vishal Dev, Secretary, Industries and Sri Ramesh Mohapatra, President UCCI attended the inaugural occasion of 10th Entrepreneurs' Week at Hotel Swosti Premium, Jayadev Vihar, Bhubaneswar and spoke on the occasion. Sri N. Palai, Director of Industries welcomed the participants and Sri B K Das, Director, Export Promotion and Marketing proposed the vote of thanks. The proponent Industry Associations of the State viz. UCCI, OSSIA, OIF, OYEA, OIA, OASME, BCCI, NOCCi, RCCI attended the inauguration of the celebration. A large gathering consisting of Entrepreneurs, Technocrats, Financial Institutions and all those engaged in promotion and development of MSME also attended the inaugural function.

The contribution of MSMEs to the economic growth is recognized worldwide. The contribution of MSME sector to employment generation, export, reducing regional disparity is phenomenal. As per the 4th Census of MSME, in the State 1.57 million MSMEs providing employment to nearly 3.32 million people making it the largest source of employment after the agriculture sector. Moreover, many from the vulnerable and marginalized sectors of society, as well as a large number of women workers are engaged in it. This imparts to this sector an important role in the national endeavor for inclusive growth. Various state level programmes are planned to be organized during the entire week which includes seminars/ workshops on different issues relating to Tourism, Food Processing sector, Export, Cluster Development, Safety measures, Quality, Credit Infrastructure, Promotion of Ancillary & Downstream industries and all other aspects concerning to the promotion and development of Micro Small and Medium Enterprises.

Seminars/ workshops relating to promotion and development of MSME would also be conducted in all 30 districts in association with the stakeholders.

The past few years have witnessed an increased awareness of the issues concerning the MSMEs and their ecosystem. Problems related to finance, HR, IT, marketing, R&D, etc. are well known now but yet the solutions have been elusive, Policy framework and regulatory environment is better now but awareness and efficacy on the ground still needs a major boost. To address all those issues there will also be an Open House Discussion on 11.3.2014 at 10.30 AM in Hotel Mayfair (Convention), Central Hall, Bhubaneswar, under the chairmanship of Chief Secretary, Odisha.

All the recommendations of ‘the Entrepreneurs' week will be holistically followed up for solutions. On the whole the 10th Edition of Entrepreneurs' Week 2014 will attempt to bring new dimension to entrepreneurship in the state and provide an excellent opportunity to develop entrepreneurship culture in the state.
MSME Department, Government of Odisha solicits co-operation from all promotional agencies, industry associations, entrepreneurs and above all the press & media to make this event a grand success.

Reported by
Abhishek Mohanty
Special Correspondent

Mega industrial exhibition of UCCI opens

Bhubaneswar: The Mega National level exhibition-cum-seminar of UCCI inaugurated here at IDCO Exhibition ground on Saturday. UCCI in continuation of a series of events on the occasion of its Golden Jubilee year celebration organized the exhibition under the banner “Odisha Moves Forward” to showcase the phenomenal development the state has made within these years.

Dr. Damodar Rout, Minister for Health & Family Welfare and MSME inaugurated the event by releasing balloons into the air in presence of honourable guests Mr. Rajiv Dube, Director, Group Corporate Services, Aditya Birla Group and Mr. S. S. Mishra, IRTS, Chairman, Paradip Port Trust. A souvenir representing the journey of the Chamber was also released to mark 50 golden years of UCCI.

“Odisha has a heritage of trade and commerce for the past 3000 years and we are abundantly blessed with all the resources we need yet we are paradoxically the poorest of the poor “, said Mr. Damodar Rout adding “The state has great MSME feasibility as to provide the raw materials to the large scale industries. If the major corporate houses cooperate, Odisha  can have significant development in the MSME sector”.

Mr. Ramesh Mahapatra, President, UCCI welcomed the guests to the dais. In his welcome address he said, “UCCI this year will find vendors for the MSME sector and with consistent efforts the state will be a mirror to other states”.

Guest of Honor, Mr. Rajeev Dube, Director, Group Corporate Services, Aditya Birla Group said, “we already have investments close to 25,000 crores in the state and we look forward invest much more”. “Despite the challenges the growth of the state cannot be argued upon and there is no reason why it could not be the next Australia of India”, he further added.

Mr. Sudhansu Sekhar Mishra, IRTS, Chairman, Paradip Port Trust said, “the growth rate of the port is 25% as compared to -2.5% last year. The port is now ranked 2nd as compared to 6th in major port trusts of India”. Expressing his concern over the time wasted in clearance of the planned projects, he said, “we should start speaking about the holy cow of environmental issues which has become a bottle neck for industrial growth in the state, especially the requirement of a timeline to asses and clear the projects.”

As a part of the event, Seminars are being organized at the UCCI Conference Hall in Nayapalli daily at 10:30 am from 23rd to 26th. The topics include “Forest & Environment Clearances for Sustainable mining”, “Export-As an Engine for Growth”, “Technology Implementation in Agriculture & Food Processing” and “From Exclusion to Inclusion of Universal Accessibility”. Various eminent industrialists, experts, administrative officials, and professionals from Odisha and outside of state will participate and conduct these seminars         

Reported by
Abhishek Mohanty
Special Correspondent