Corporate Results of over 2500 companies Saturday, October 23, 1999
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Elections 99
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Think Tank
This week we focus on a complete analysis of the
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Briefing 

 
Garment investments to touch $5 billion

Nearly $five billion(Rs 21,750 crore) will be invested in the garments manufacturing sector over the next five years, textiles secretary Shyamal Ghosh said on Friday. There is an obvious need to upgrade technology in the apparel manufacturing sector, he said while inaugurating the 11th International Garment Machinery, Textiles and Accessories Exhibition at New Delhi. About 150 exhibitors are participating in the show titled Gartex '99. With the world moving towards electronic commerce and global sourcing and marketing becoming key factors, the apparel exporters must upgrade their manufacturing capabilities to make their products competitive worldwide. ``There is a perceptible threat that Indian exports will suffer when quotas vanish worldwide after the multi-fibre agreement (MFA) expires on December 31, 2004.'' he said there will be a premium for moving up the value chain after year 2005. Ghosh said the investment in Indian apparel machinery averages $30,000(Rs 13 lakh) compared to millions of dollars inChina. As a result, there is low productivity which neutralises the benefit of low wages. He said the use of information technology is becoming critical to realise the full potential of Indian apparel industry. Textiles and garments constitute 33 per cent of the country's total exports. The industry employs 10 crore people across the country.

50% duty on wheat likely

Government has proposed a hefty 50 per cent duty on wheat to discourage imports in the wake of burgeoning buffer stocks, food ministry officials said on Friday. "Imposition of 50 per cent duty on wheat imports has been proposed as a measure to check the rising import by millers in the South at a time when the country is faced with a situation of plenty," officials said. Currently, duty-free import of wheat is allowed under open general licence even though the WTO bound duty is 100 per cent. "We have only the option of raising duty as the country has already agreed to remove quantitative restriction," they said. The ministry has also prepared a cabinet note detailing other alternatives to reduce the huge wheat inventory. The proposals include a 50 per cent increase in wheat allocation to families below poverty line (BPL) from the existing level of 10 kg per month through the public distribution system (PDS). The increased allocation for BPL families would also include rice in anticipation of a record riceprocurement during the 1999 kharif season. Wheat stocks on government account is estimated to be 50 per cent higher than the statutory limit of 11.6 million as on October one.

Leather rices remain quiet

Leather prices of raw and treated remained quiet on the New Delhi Leather market following small demand from leather goods manufacturers coupled with restricted arrivals and closed without any change in previous levels. Prices per inch in Rs: Goat salted 30"X40" Rs 55-60 unsalted Rs.30"X40" Rs 70-75 sheep salted 32"X40" Rs 125-130 and unsalted 32"X40" Rs 170-175. Treated leather price per sq dm: Goat suede Rs 5.00-7.00 or 5.50 lot, goat napa Rs 3.00-4.00 or 3.50 lot, sheep napa Rs 3.50-5.50 or 5.00 lot, furnished leather Rs 100 per sq meter or Rs 90 lot, and buff leather Rs 30-100 per sq dm.

Norms for Punjab wheat farmers

Punjab Agriculture University in Ludhiana has advised the farmers either to sow loose smut-resistant varieties of wheat or treat seeds before sowing to check the disease. It was essential that the farmers treated the non-resistant seed to prevent internal growth on germination without showing any visible effect on the plant. The disease smutted ears did not produce any grain. The university urged the farmers to sow either resistant varieties like PDW-233, PBW-34, PBW-138 AND TL-1210 or treat the seed before sowing. The university also recommended that in termite-infested soil one kg wheat seed should be first treated with four millilitre (ml) of dursban or ruban or dermet or 20 ec or seven ml of thiodan 35 ec. It said that farmers should dry this treated seed and then further treat it with vivatax at the rate of two grams per kg or raxil at the rate of one gram per kg, or vavistin or agrozim, derosal or jk stein or sten 50 or provax or bencor at the rate of two and half gram per kilo of seed for control ofloose smut. The university said that for the control of root rot, seedling blight, blackspot of glumes, the farmers should treat the seed with captan or thiram at the rate of three grams per kilo, adding this treatment should not be done earlier than one month of sowing as it affected germination of seed.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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