Passline 2011 March-April by Passline Business Magazine

ShadWell’S has its presence as facility unparallelled campuses in different regions but majorly anchored at Cochin and Bengaluru. In both the places, the campuses are located at the centre of the area. The ShadWell’S International Busi-

India as a destination of higher education The education industry is one of the fastest-developing sectors worldwide, generating large-scale revenues and employment. There have been major changes occurring in the recent past in the structure and education technology driven by foreign education demand, elearning and test preparation market. With the effect of globalization, the demand for better education has increased, largely through increased private participation. In spite of the global economic downturn the number of students going abroad for studies is rising globally. The global education industry has experienced a rapid growth rate supported by rising awareness in developing countries (especially India and China).

ShadWell’S International Business School, Cochin ShadWell’S has state-of-the-art facility campus. SIBS—ShadWell’S International Business School—at Infopark, Cochin, the tech-hub of Kerala anchoring IT, ITES, MR and financial sector companies is the first International Education Campus at Infopark. The state-of-the-art facilities include multi-faceted fully equipped Convertible classrooms, conference hall, indoor hall, library and computer lab, cafeteria, students’ welfare room etc. The proximity to the IT companies is an added opportunity for the students at ShadWell’S International Business School. ShadWell’S breadth of experience is complemented by your depth of commitment in your field of choice, to help achieve combined and collaborative success. The neutral, unbiased and fresh perspective is the key measure of success which drives it to ensure that the best of the services are offered to the students. Its approach is highly participative and involves the student’s active and wholehearted participation. It assists its students whenever they feel the need for that support. The corporate- academic interface bridging the campus and industry gap along with the international faculty pool crossing the national boundaries allows it to provide fresh insights in industry, keeping in mind the global exposure required. Innumerable opportunities for placement and live internships add up to the advantage of being located at the tech-hub. Provisions are made possible for ShadWell’S students at the Infopark campus which will make them more employable in the industry. The direct access and proximity to the major technical companies enable them to understand the industrial scenario on a more practical basis. In addition to this there are practical forums for the implementation of theoretical concepts and forums of discussions like Accountants Factory and Business Lab where the like-minded professionals brainstorm their views and conclusions.

In India, the private sector has a strong hold in the education industry starting from pre-schools to universities. The Indian education industry is in its development stage. With economic growth and enhanced technology it has become necessary to develop the structure of the Indian education sector. Funds are a major concern in the market though the Government has taken many initiatives for the development of education infrastructure which can be fulfilled by private players. The upcoming education institutions in the private sector have mulled the student strength of the country especially from abroad. If you closely analyse the statistics of the students, the percentage of students opting for the new-generation programmes has risen a lot over the years. That’s the stage at which there is a gross demand for the courses above the traditionally operated. March 31 - April 30, 2011 PASSLINE

.........................................................................................................................................................................................................................................................................................................................................................................................................

In keeping with the vision of the entire group, the vision of ShadWell’S is in disseminating knowledge through quality education and being an instrument in a complete education solution progress. The mission of ShadWell’S education is to facilitate an excellent education culture through the latest in education. Value and ethics have been the cornerstone in its edifice. A holistic approach is followed by students, staff and clients to offset mediocrity and make the aspiring candidates reach the most coveted standards in excellence and carve a niche for themselves in the phenomenally changing world.

ness School, Cochin, is amongst the Infopark, the tech centre of Kerala, in the City of Cochin and at Bengaluru, the Garden City of the country, also known as the Silicon Valley of India. ShadWell’S International Business School, Bengaluru, is at the city centre with all the modern amenities and reach to corporates.

hadWell’S International Business School is a venture of ShadWell’S Education Management Pvt. Ltd. registered under the Indian Companies Act of 1956. It is also registered under the Companies Act of England and Wales as ShadWell’S Global Limited. It imparts education of international standards through a holistic approach producing exorbitant quality output to cater to the current professional demand. ShadWell’S extends complete education solutions which set it apart as the foremost educational Institution, the first of its kind in India. The portfolio of services capitalizes on new-generation programmes catering to the education and employment habitat. ShadWell’S rigorous cutting-edge training of the students creates a definitive winning mark depicted of its own kind in the new-generation course environment at various educational platforms. Its core competency is sharpening the student’s output, also empowering education service providers and institutions with effectiveness to manifest. ShadWell’S bridges the gap between knowledge starving and the resources with optimal delivery of quality education.

ShadWell’S International Business School, Bengaluru Right from inception, SIBS Bengaluru’s focus has been on helping students attain success and career growth with the process of implementing its recommendations pertaining to its industry expertise. Success, however, is not one-dimensional but a result of creating a set of key processes within the organization that are aligned with the core purpose which to it is student satisfaction and avoid deviation from the same. Located in the heart of Bengaluru City, ShadWell’S provides its students the best of the opportunities to explore the ultimate. The proximity to the IT companies and the availability of the best services is a rare blend which is occasional. ShadWell’S has created a best-in-class process blending methodologies along with traditional consulting modalities in order to create the most practical solutions when information is scarce or convoluted. State-of-the-art facilities are provided at the campus to the students. ShadWell’S helps its students succeed professionally and personally through its global career development framework. Furthermore ShadWell’S has centres at various places across the region including Calicut, Thrissur, Muvattupuzha, Changanassery and Kuttikanum and upcoming campus centres at various places.

New Generation Programmes ShadWell’S provides an exorbitant plethora of courses which have been framed keeping in mind the changing global market and provides its students with the best of the opportunities to explore the realistic learning parameters together providing an unparalleled platform of core competency training and unmatched employability. The courses include ACCA, CIMA, IFRS at Certificate and Diploma level, Postgraduate Programme in Engineering Management (PGPEM), BCom Pro-

The steering of the corporate is staunchly in the hands of the professionals in the management field and more it is quite evident that the role of finance professionals in the strategic formulations of an organization is in its upswing. It is due to this relevance of the specializations that these two sectors see a havoc of courses pouring in. But a close analysis shows that there is a trend in this sector for highly customized courses. The watchword of this format could be the employability parameter of the whole course at various levels. The newly knitted course always shows a trend of employability platform closely associated with it, which is what expected by the market at its hyper level. The superlative of

Employment opportunities The avenues of employment in the country have risen to a new level even though the global market is getting revoked after a downturn. In that the main sectors to be focused include:

Management

Accounting Sector

Finance Sector

Banking Sector, especially the Islamic Banking avenues

Tourism and Hospitality

Logistics and Supply Chain Manage ment

These specified domain regions have niche avenues of employment in the wake of which prestigious institutions including ShadWell’S have corporate tie-ups for internships, on-the-job training and projects. More, there are placement tieups at various levels including companies as E&Y, KPMG and many more…

Pool of faculty and academic advisors A pool of highly qualified international faculty and experienced subject experts are associated with ShadWell’S. The academic advisors at ShadWell’S are from varied sectors who have high aca-

PASSLINE

demic qualifications and who have spearheaded industry, corporate and executive cadre jobs at private or public sectors. The faculty team of ShadWell’S is headed by Prof James Joseph, the Dean at ShadWell’S. He was formerly Director of the Kerala State Higher Secondary Education Department and former Controller of Examination, University of Kerala. The experience and guidance brought in by Prof James Joseph is unparalleled and together with the list of PhD holders and elite professors the ShadWell’S faculty team is differentiated with excellence. The academic advisors to ShadWell’S include the Padma Bhushan Emeritus Prof. Dr. M V Pylee, the patron of ShadWell’S, Prof. P R Poduval, Former Director of School of Management Studies-Cochin University of Science and Technology, Mr P Kamalkutty IAS (Retd.), Former State Election Commissioner, Kerala, Dr. P J Alexander IPS (Retd.), Former DGP, Government of Kerala and many more with an excellent track record to turn the wheels of fortune in the education sector.

Awarding bodies ShadWell’S has associated itself with various International professional bodies for its prestigious programmes at various levels. The professional bodies have new-generation courses together with the prestigious traditional programmes designed and well knitted for creating employable workforce. The professional bodies include:

ACCA—Association of Chartered Certified Accountants

CIMA—Chartered Institute of Management Accountants

ABE—Association of Business Executives

ABP—Association of Business Practitioners

CIPS—Chartered Institute of Purchasing and Supply

CTH—Confederation of Tourism and Hospitality

March 31 - April 30, 2011

Finance and Management verticals: the esteemed sectors

the new-generation programme has shifted its focus from the flood of specializations to Management and Finance.

fessional, Postgraduate Diploma in Business Management (PGDBM), MBA and Cambridge International Certificate in Financial English (Cambridge ICFE). The BCom Professional, the new-generation undergraduation concept is a dynamic programme in the platform of effective corporate academic mix with specializations in Finance/Business Management/ Human Resource/Marketing/Business Information Systems/Islamic Finance/ Event Management/Enterprise Management/AgriBusiness Management/Tourism and Hospitality/Logistics/Retail Business.

IAB—International Association of Book-keepers

IFA—Institute of Financial Accountants

Edexcel

University of Cambridge IGNOU—Indira Gandhi National Open University

Campus life @ ShadWell’S Vibrant campuses in the city centres with objective of holistic learning together with domain expertise enhancement and co-curricular avenues mulling the learning potential of student’s verticals. The campus has opportunities for:

Soft skill development

Personality development programmes

Hostel facilities

Co-curricular forums

Management and finance fests Student ownership programmes and a lot more…

Vibrant Kochi Cochin, the commercial capital of Kerala, is definitely poised to become the global business hub of India. The city has been able to create a positive impact on international investors. The city’s proposed and upcoming developments, the opportunities to excel and the indescribable quality of life are the main hallmark of this vibrant metro city. The city has potential enough to bring in new investments and new job opportunities for a large number of qualified people in the state. Being the business and tourist heart of Kerala, Kochi is an active city with enormous shopping, dining and entertainments. The diversity in art and culture and its well-known history attract a heavy inflow of tourists. The rapid commercialization, IT-based industrial parks like Infopark and KEPIP and port-based infrastructural developments have triggered a massive boom. Hence transforming Kochi into the well-known commercial hub of Kerala. The upcoming International transshipment terminal at Vallarpadam has also changed the face of the Queen of the Arabian Sea, Cochin, drastically. - Response Feature

PASSLINE

March 31 - April 30, 2011

From the Editor ...............................................................................................................................................................................................................................................................................

Bribe: loopholes in law should be plugged Editor & Publisher

VARGHESE PAUL Kochi Correspondent

SUBIN MANANTHAVADY Ph: 9946903949

‘Power corrupts and absolute power corrupts absolutely’ is a dictum more applicable in the presentday situation. Bribe-giving and taking or corruption is rampant in every walk of life and has not left the four pillars of our democracy untouched—Parliament, the executive, the judiciary and the fourth estate. News and views on corruption in Government echelons are galore in the print and electronic media. Even the framers of law become its violators. Our Parliament was once in turmoil over some MPs receiving money for asking questions in the House. The judiciary too has become maligned because of the alleged involvement of some judges in corruption and their being summoned to courts for hearing. We have also cases of ministers having undergone even prison terms for signing contracts for certain projects causing losses running into crores of rupees to the exchequer. Some are tainted by corruption cases relating to telephones and real estate deals and going scot free in their respective realms of activities. In the fourth estate a war of words is going on over publication of `paid news’.

Chennai

AUGUSTINE JOSEPH Ph: 09381000534 Bangalore

JAYACHANDRAN Ph: 09886929331 Delhi

A characteristic of the evil practice is that the bribe-giver and taker contribute to uneven distribution of resources, foul the merit system, pollute the environment, increase human hazards, spread discontent and mistrust and cause suicides, murders and family destruction which weaken the foundation of any country by producing corruption-tolerant generations. Which is what is happening in India today.

AFGANULLAH Ph: 09910498222

Manager-Marketing

SAJAN K Keethara Publications Pvt Ltd

The Janlokpal Bill drafted by the India Against Corruption Movement and offered to the Government of India has provided for a clause: “Any person who obtains from the Government by violating any laws or rules, that person along with public servants who directly or indirectly helped that person to obtain those benefits shall be deemed to have indulged in corruption.” Recently, there has emerged an opinion that bribe-givers should be shielded against their act of paying bribe in order to get rid of the evil. But this will work only if the authorities concerned go after the bribe-takers because both givers and takers are abettors, perpetrators and conspirators and culpable under the legal system.

38/125 1st Floor, Narakathara Road, Kochi-682 035, Kerala, India. Phone : +91 484 4027002 Marketing : +91 484 3043325 Editorial : +91 484 3043572 e-mail

ribes, or chee-chee (slang), are an integral part of the day-to-day lives of all Indians. The level of corruption in bribe-giving is worsening our bureaucratic system. The bribe receiver grows richer and the giver either ‘survives’ or ‘thrives’, depending on the situation. The bribe-giver is under duress/harassment to give bribe for certain life-threatening or business compulsions or greed to acquire more wealth and influence. The taker takes it as a status symbol or under the conceit of leading a lavish life.

The problem has to be addressed by changing the expected rewards and punishments of the taker and giver.

: passline.com@gmail.com mail@passlinebusinessmagazine.in

www.passlinebusinessmagazine.com

Readers' views

English eveninger Sir, The views expressed by some eminent journalists on the need for an English daily coming out in the evening from Kerala (PASSLINE March issue) are timely. An eveninger may be very helpful for youths like me who are English savvy. Moreover, a major chunk of working people, including those from other States, also lack time for armchair reading when their duty and travel devour their day time, and who long for an English eveninger which they can read on their journey back home. R K Nayar, email

Varghese Paul

Poll in every two years! Sir, As the elections are nearing, it seems the Government has no funds crunch to implement projects and programmes. The glaring examples are the International Container Transshipment Terminal (ICTT) Vallarpadam and the Smart City project (languishing for about seven years). A lot of ads and news items are appearing in the media on the achievements of the ruling party. But once the elections are over, news and views on the uncertainty of these projects will fill newspaper pages and channel screens. Whether the projects and plans are still-born or nonstarters as PASSLINE (March issue) showcases, elections are a good occasion for rulers to visualize new ventures and schemes. I wish that our Constitution was amended to prune the term of the governments to two years instead of the present five years so that at least many projects will get a launch pad although poll expenditure is a matter of concern. Ajit Puzhakal, email

Newsy sans colour Sir, This is about the report on the actors’ business. Viewers seldom know that their heroes are mentors of many a business project, mainly hotels and post- cinema-production enterprises. It would have been wonderful if the pages were printed in colour, adding to glitz and glamour. Still it is interesting and informative. K Subramanian, SMS

6 Surprisingly for an empire, which distributes lakhs of printed books, from KG classes to Class V, in many parts, there are no distributors or agents for Nettikadan. Books are sent to schools directly by the company. There is not even a branch.

Andrew with wife Unniyamma

Passline News Service

any people assume that publishing textbooks is an easy sell. But the truth is selling textbooks is a tricky business, in part because you are selling a product which most people do not really need and in part you have to convince those buying them why yours should be bought. That is why Nettikadan Corporation’s performance is so remarkable. Few firms are as canny at persuading schools to buy their books. Selling textbooks is a subtle art: to do it well, you have to tap into something bigger, wider, more abstract than the product itself. The success of Andrew Nettikadan, the founder of the Nettikadan Group of Companies, is one part daring, one part grit and determination. He bought up the loss-laden bookshop of his uncle half a century ago and not only made it profitable but what was later to become one of Kerala’s, nay, the country’s, best-known publishers of school textbooks. He now governs an empire. His golden rule: Never sit idle with your enterprise; attempt to do something and go on experimenting; you cannot win in life without taking risks. “My publishing company, Nettikadan Corporation, now prints and sells 45 lakh-50 lakh

textbooks a year and owns more than 420 titles. We have today 2,000 schools following our textbooks not just in Kerala but in Tamil Nadu, parts of Karnataka particularly in Bangalore and in the Gulf,” reflects Andrew from his corporate headquarters on Kochi’s Karakkat Road. So who is this man who could scale such great heights in a field which, he says, he entered ‘accidentally’? To understand Andrew and his quirks, a brief history is in order. It was in 1958, when he was barely 21 years of age, that his uncle Thomson ‘invited’ Andrew to Kochi where Thomson, himself a writer of eminence in English, was running a bookshop, Joseph Thomson and Sons. Andrew was then spending his days at Meloor, a sleepy village near Chalakudy, learning typewriting after his SSLC exam. A few months after Andrew relocated to Kochi and started helping Thomson in business the latter wanted to call it a day. His business was not generating enough revenue, one reason why he wanted to quit. Would Andrew take control of the business and relieve him? Andrew courageously accepted the challenge. He was gradually coming into the world of the printed word. When he struck out on his own, Andrew proved he could spot and bag a commercial opportunity March 31 - April 30, 2011 PASSLINE

as easily as a deer. The first thing he did was to replace the kinds of books that used to be stocked there, most of them philosophical and other ‘serious’ ones, with books procured from such publishers as Vidyarthimithram and Assisi. The books were bought on credit as he hardly had any money with him. He also sold books published by North Indian firms. During 1962-63, remembers Andrew, he published two dramas and a few English books too. Though the firm prospered, Andrew was not the type of man sticking to just stocking and selling books. He was impatient for doing something original and came to believe that for him to prosper further in business he had to operate like an entrepreneur. The bookshop was then situated on South Railway Station Road. Sitting there he used to watch children going to the nearby Girls High School. He thought of doing something for them. The idea of printing textbooks occurred to him. Taking the help of a teacher who was a relative of his Andrew started getting books for classes 1, 2 and 3 printed. The books conformed to the syllabus prescribed by the Government. He also took up distribution of Government textbooks and began selling guides and notebooks. To page 7

His books have achieved brand status From page 6

During those days the Government used to bring out only Malayalam books. Andrew, with the help of some teachers, then had books on other subjects like science, social science and mathematics printed. With his decision to fully concentrate on publishing textbooks, possibilities began appearing before him. The trust he formed, Kerala Private School Examination Board (KPSE), aimed at publishing textbooks and setting question papers, helped further promotion of the business and enabled his company to compete successfully with North Indian publishers. With the cooperation of his teacher friends (today Nettikadan has links with more than 100 teachers) the trust turned out to be a big success and started functioning very actively from 1964. Centred on schools and students, it was destined to change the very face of both his company and he himself. Succumbing to pressure from his friends and well-wishers, Andrew had to become the Secretary of the trust. Besides conducting competitive exams for school students throughout Kerala simultaneously, it also conducted educational and entertainment programmes continuously from 1966 to 1976. Another path-breaking step he initiated was the inclusion of registration numbers in question papers, a practice the Government itself followed later. With this, question papers on every subject started carrying a number. Then came Nettikadan Corporation’s decision to print and publish books for KG classes in accordance with the syllabuses (both for ICSE and CBSE), which were prepared in association with teachers’ organizations. Orders started pouring in for guides, course textbooks and KG texts. These were prepared and published for both Malayalam and Englishmedium students. Extremely cordial relations with parents were one of the reasons for his success, Andrew feels. A stickler for principles, Andrew always insisted on giving prominence to the interests of students and wanted that whatever publication he was bringing out should be useful to them. No wonder his books bear the stamp of the imagination of students. The books have pictures of flowers, toys and birds on the covers. This, he feels, enhances their value. The books published under the banners of Jetco and Nettikadan have achieved the status of brands. They were in sharp contrast to those which used to be brought earlier from North India. Nettikadan’s Junior Reader brought out in those days was an all-time hit. Lakhs of copies of the book were printed. Andrew had also tried his hand at construction. As early as in 1991 he had a flat complex built at Edappally in Kochi. Before that he had started the Anderson Sports Shop which was purely meant for encouraging the sports talents of students. This however had to be closed in 1992. The closure of this as also the real estate business was meant to enable him to concentrate exclusively on the publication field.

A point Andrew makes is the way the Nettikadan Group works. It operates under a set of self-imposed financial targets that limit debt to almost nil. “This may appear conservative, but the idea is to keep the company out of the capital markets and in control of its destiny. I

month’s credit facility, which we continue to this day. They were prompt in payment. Things are not the same today.” In an industry populated by big players from the North, Andrew is in a league of his own. Curiously, he had never run a business, not least the publishing busi-

says proudly. Besides travel, Andrew has other interests too. He is socially committed and is involved in the Lion’s movement. He is also associated with the famous Kalabhavan and is presently its Treasurer. A writer too, Andrew has authored

Life after Andrew

ndrew has been running the Nettikadan business for more than half a century at a stretch. Now the question is, Who will replace him? “One of my two sons, Varghese, will be my successor”, he says. Varghese, who is Director of the group, has already been groomed to preside over the empire and has established himself as an astute administrator. He too eats, sleeps and drinks the business as his father does, of course, with modern ideas.

books they buy from us,” says Varghese. Moreover, R and D and production costs are very high. “In 1998 the company launched interactive CDs and VCDs but the demand was far below our expectations. Now we are giving one CD each to schools which buy books from us.” Varghese, who has visited the US and the UK, says that though children there use laptops their curriculum is still dependent on the physical form of books. “If this is the case in developed countries I think it will take years to transform the education system to e-learning in a country like hours. Our children are interested in the computer and the Internet but 99% of them use these for entertainment and fun, not for studies,” he says.

Varghese, a computer engineer, had persuaded dad to go outside the printed format and introduce e-learning and e-books and even made an attempt to foray into it. But he himself admits that these conVarghese Nettikadan cepts are yet to catch up in India, especially in Kerala. “There are a few publishing companies in Even e-commerce, the largely discussed format in the the country doing this and they are doing a fairly good job business field, is yet to occupy centre stage in Kerala, but our clients are not ready to spend additional money on Varghese says. He cites his experience in his own busiit. My team and I tried the e-book format but, sadly, the ness. Even today only three customers use e-mail for their response from schools was poor. Schools may accept orders, all others order books and finish deals in the physiCDs or other online material as complimentary with the cal format, he says. don’t like to go to the banks. I want to be independent,” says Andrew. This aversion to debt is just one reason Andrew can be described as the country’s most unusual publishing giant. Surprisingly for an empire, which distributes lakhs of printed books, from KG classes to Class V, in many parts, there are no distributors or agents for Nettikadan. Books are sent to schools

ness, when he entered one: but then he was too young for it. That made him not only the youngest one in the field but also the least experienced. But soon he became one of the best-known and mostrespected publishers. A man who has constantly looked for daring ways to prove himself, Andrew, at 73, went in February last year on a tour of Antarctica. His latest adventure may be

Andrew Nettikadan

directly by the company. There is not even a branch. The only ‘agent’, if he can be called one, is a man who stays at Sivakasi in Tamil Nadu, where most of the books are printed, to oversee the printing operations. Some printing is also done in Mumbai now. Reminiscing about the past, Andrew says that 30 or 40 years ago schools were honest. “They recognized and valued our efforts. We used to give them a PASSLINE

one of the toughest footraces on earth. As the veteran traveller puts it, “I am a bit of an adventurer, and I saw something different in my latest itinerary. Please remember that Antarctica is a region visited by fewer than a hundred thousand people from all over the world. I feel elated that I belong to this rare class.” But then his love for travel started at an early age. He has so far undertaken 47 trips to almost all the continents, he March 31 - April 30, 2011

a book on Jesus Christ, specially meant for children, and another on his travels abroad. Now what next? “My efforts do not end here. Avenues continue to open before us. And many more things remain to be done. Changes are taking place in the field, as in other fields. They are needed for further growth,” says he. At his age, Andrew has not lost a bit of his will to dominate. Despite challenges, the severest of them from North Indian publishers, Andrew has stood his ground to this day—yes, for half a century. What is his secret? “Honesty, belief in God and promptness,” prompt comes his reply. “I leave nothing to chance and very little to the imagination.” “My confidence,” recalls Andrew, “was unlimited.” Hard work was his ethic. It was an 8.30 am to 8.30 pm work schedule for him until some time ago though he finds more time for rest now having handed over many responsibilities to his son Varghese, Director of the group. “But hard work alone is not enough, It boils down to luck,” he says of his success. “Circumstances could have been otherwise.” Among his four children, only one, Varghese, works for the company. Thomas, the other son, is doing business in Doha, Qatar. His two daughters, Livi and Sini, are happily married. Livi is the wife of Dr Kunjumon, a reputed cardiologist. Sini’s husband is Dr Joseph Francis, a Medical College Professor. Andrew’s wife Unniyamma, very active still, helps Andrew in controlling office finance. She also pays occasional visits to the office and interacts with the staff. (There are now 27 people working for Nettikadan, besides 12 marketing men). “Her help in my life has been invaluable,” acknowledges Andrew.

8 Though the State has been staggering along with practically no growth or investment worth the name under successive regimes, there is little that either the LDF or the UDF promises on industrialization and infrastructure development. Both have only underscored their resolve to strengthen and encourage the public sector undertakings, many of which have the enviable record of having amassed losses consecutively for decades. There is no assurance on when exactly long-delayed projects will actually take off.

Voters need a new govt, not a new front Passline News Service

n April 13 voters in Kerala will go to the polls. They may (or may not) decide that it is time to switch fronts. The Left Democratic Front (LDF) led by Chief Minister V S Achuthanandanâ&#x20AC;&#x2122;s CPI (M) has held power for almost five years. But neither it nor the opposition United Democratic Front (UDF) is offering anything approaching the economic overhaul that some other States in the country have brought about or are promising. Kerala as part of the nation also started free-market reforms by cutting public spending, attracting private investment and by selling State-owned businesses in the early 1990s. But the push to keep the reforms coming ran out of steam by the mid-1990s. Privatization on a large scale seems off the agenda of both fronts. So the ideas on the table of the LDF and the UDF are modest or, as in neighbouring Tamil Nadu, related to offers of largesse, the only difference being that there are not many freebies here. The LDF promises 25 kg of rice at Rs 2 a kg for all, inclusion of all workers in the marginalized sector in the below-poverty line list (BPL), deposits of Rs 10,000 in the name of all newborn ba-

bies, schemes for women and the differently abled and improved healthcare. Going a step further, the UDF has halved the price of rice and raised the quantity by 10 kg for BPL families. It also promises to expand the public distribution system, a women welfare department and another welfare department for the differently abled. Surprisingly, however, there is very little that the fronts have on offer by way of steps to boost economic development and dealing with the sagging economy of the State. Though a good percentage of people credit the present Government with the reduction in political violence and the availability of food and other goods in the market and shops following the steps taken by it, the majority feel that there have been many ideas from the LDF, especially in education and the economic field, that have created conditions for destructive political and economic policies. There have been few attempts to create new employment opportunities and rein in the

escalating commodity prices. Nor does the frontâ&#x20AC;&#x2122;s manifesto specifically mention steps planned to contain inflation. Though the LDF can try to get away with the stock explanation of the rising inflation as a national or world phenomenon and that there is very little that the local government can do about it, economists point out that the hallmark of a strong economy, whether national or State, and successful monetary management is an inflation rate that does not rise alarmingly. The governments at the Centre and in the States seem to have miserably failed on this front. It was towards the end of last year that vegetable and onion prices brought tears to the eyes of the common man. Food inflation at one time crossed the 18% mark. The New Year did bring in some respite, though the rate of food inflation has started rising again. Though the State has been staggering along with practically no growth or investment worth the name under successive regimes, there is little that either front promises on industrialization and infrastructure development. Both have only underscored their resolve to strengthen and encourage the public sector undertakings, many of which have the enviable record of having amassed losses consecutively for decades. There is To page 9

PASSLINE

March 31 - April 30, 2011

Projects completion: time is of essence From page 8

no assurance on when exactly long-delayed projects will actually take off. There is only the usual talk of ‘comprehensive development’ of infrastructure projects being taken up ‘in right earnest’. Though potential areas of growth have been identified, the question is how fast and how much the Government will do. As economists say, time is of the essence. If we take too

ing new inequalities and developmental challenges. The time has come for the State to take note of its new development challenges and the emerging inequalities at different levels. “The rich are getting hugely rich and the poor are being pushed downward. There are all sorts of disparities growing, some of them interregional,” he told the media on the eve of the Third International Congress on

Opposition parties

long to change, the State will lose competitiveness. In IT, delays have cost us dearly. If the Smart City project, for example, had been cleared earlier it would have brought in crores of rupees worth of business to Kerala. The longer the time taken for completion of a project, the greater will be the losses arising out of it. Dr Thomas Isaac, the State’s Finance Minister and an eminent economist, said in December last that though Kerala was ahead of many States in the country in growth, it was witnessing the emergence of frighten-

The demand for some of Kerala’s traditional products is plummeting and their exports are dwindling. Many of the units making them have to be brought to the revival path. Their R & D must be redoubled, technology upgraded and their exports increased.

Kerala Studies. He said the meet would focus on ways to create a comprehensive social security system to develop Kerala as a knowledge society and to meet the diverse developmental challenges arising from a changed growth scenario. Primary among these would be the challenge to put in place a social security system that covered all the needy. Equally important was the need to ensure growth in different sectors of the economy. Dr Isaac admitted that the industrial sector was yet to create jobs in keeping with the educational entitlements of the State’s youth. There was therefore need to fine-tune the information technology, biotechnology and tourism sectors to face this challenge of employment generation, Dr Isaac said. Public enterprises are an extension of the arms of the Government. They are set up for serving specific public purposes or for delivering public goods or services at minimal cost to society. However the basic objectives with which they were set up were often forgotten in course of time leading to confusion in their management and evaluation of their performance. Public enterprises should have the necessary autonomy to work towards well-defined goals set by the Government and elected bodies or representatives of the people sit in judgement over their performance based on the cost feedback provided by the wing concerned. There are plenty of guidelines and rules for enabling these checks and balances, which are more often violated than respected by our political leaders. The manifestos

of both fronts are silent on this vital aspect of good governance but just speak of ‘encouraging’ and ‘strengthening’ public enterprises. Of course the performance of the State enterprises’ economic picture is not entirely bleak. Rubco (Kerala State Rubber Cooperative Limited), for instance, has been impressive. It has diversified into different fields. Technopark, the electronics technology park, a ‘one-ofa-kind’ project developed by the State Government, is highly successful. Naturally it is in the interests of the State that the units under it should achieve their competitive edge. The demand for some of Kerala’s traditional products is plummeting and their exports are dwindling. Many of the units making them have to be brought to the revival path. Their R & D must be redoubled, technology upgraded and their exports increased. The LDF manifesto does not seem to have addressed these problems at all. Nor has the UDF any concrete plans to revive traditional industries and to push

his main or central plank. He knows best that few political promises are such tried and trusted crowd pleasers as the vow to get tough on corruption and crime. If you are Achuthanandan, you pledge to keep law-abiding Keralites and their families safe and happy and initiate a series of measures that will put more people in prison for longer and make it harder for convicts to win early release. But he and politicians of his ilk forget that there is a limit to unleashing criticisms against political opponents beyond which they become stale. That is what is happening in Kerala today. What the voters want is a government that works not a front that doesn’t. The people know that Kerala needs many new reforms: energy reform (the State faces an acute energy deficit), financial reform, industrial reform and government reform. There have been promises of creation of millions of employment opportunities by both fronts but neither explains how jobs are going to be created. So, people know, they will remain just promises.

What the voters want is a government that works not a front that doesn’t. The people know that Kerala needs many new reforms: energy reform (the State faces an acute energy deficit), financial reform, industrial reform and government reform.

Kerala Assembly

the economy forward. Business is looking to the new government that will assume office after the elections for policies that encourage growth rather than simply redistribute money from one group to another. But, many say, Keralites are not expecting big economic changes from either leading front. And it looks as though they won’t get any. For, development talk and debates have been put on the backburner by political leaders and candidates. Instead they trade sex and corruption charges. The Chief Minister himself seems to excel in this as he has made these issues PASSLINE

The only redeeming feature is that there is little labour unrest, which was not the case a few years ago. The Government that comes to power must maintain this state as a single incident of labour unrest is enough to scare potential investors. To investors nothing matters more than stability and a peaceful industrial climate. The question for them is whether the Government will have any response other than mere promises of an investment-friendly atmosphere. True, we live today in a world demonstrably better off than it was two decades ago. The global economy is booming. Longevity is at its highest and effec-

March 31 - April 30, 2011

tive healthcare has made old age more active and enjoyable. But the mood is anything but optimistic and upbeat. The wars in certain countries are obviously a downer. Even more worry-inducing are the winds of change blowing through our economy and those of the rest of the world. People are fearful that their lives are unlikely to prosper in the absence of political leadership that inspires us to look torwards a better and fastchanging future with excitement and anticipation. It is such leadership that people expect after each election. Can either of the two fronts provide this? It remains to be seen.

By Subin Mananthavady

Kochi, the business capital of Kerala, has now become the Kodambakkam of Mollywood. Like Kodambakkam, Kochi is also growing up as a film city. Mollywood’s glitterati—actors, directors and technicians— based in Chennai and different places in Kerala have shifted their residences to Kochi.

odambakkam in Tamil Nadu used to be film buffs’ destination and centre of film activities once. The Hollywood of India’s South then, its high road was lined with film studios. The homes of the living gods and goddesses and the superstars were located around the belt. Directors and producers chose the area for settling. Moreover it was the abode of Mollywood too. The situation has changed. Kochi, the business capital of Kerala, has now become the Kodambakkam of Mollywood. Like Kodambakkam, Kochi is also growing up as a film city. Mollywood’s glitterati—actors, directors and technicians— based in Chennai and different places in Kerala shifted their residences to Kochi. They include Mohanlal, Mammootty, Jayaram, Indrajith, Prithviraj, Jayasoorya, Lal, Kavya Madhavan, Meera Jasmine, Bhama, Samvritha, K G George, Joshiy, Rafi Meccartin, Shafi and Siddique. They own their own houses or flats in the city. Why did they choose Kochi as their home? Each has his/her own reasons. “Every State has its own film cities, Tamil Nadu has Chennai, Andhra Pradesh Hyderabad, Maharashtra Mumbai. Likewise Kochi is becoming Kerala’s film city”, says Indrajith, who shifted to Maradu in Kochi from Thiruvananthapuram nearly five years ago. “Take a look at my shooting schedules. I used to spend most of my days in Kochi, but only few days in Thiruvananthapuram. Staying in Kochi is advantageous to me”, adds Indrajith. His brother Prithviraj owns a flat at Kadavanthra. Kunchacko Boban, the ‘chocolate hero’ of Mollywood, came from Alappuzha nearly five years ago to take up residence in a flat, also at Kadavanthra. “I used to feel like a frog in the well while being in Alappuzha, my hometown. My arrival here has wrought a lot of changes in my life. It has made me understand the new trends and current developments and opportunities in the film world. Most of the people connected with the Malayalam film industry, especially technicians, artists and directors, now live here, some in their own flats or homes and others in rented houses. My being here enables me to interact with them easily”, says Chackochan. He expects Kochi to become a Kodambakkam very soon. “Kochi has been in the news for long because of the IPL controversy. It is fertile enough for business too,” he says. PASSLINE

March 31 - April 30, 2011

Besides being an actor, Chackochan is also a well-known businessman. He admits that his entry into Kochi has made him enter the film industry too. “We can easily spot locations suitable for any scripts in Kochi in a matter of two or three days,” says art director Salu K George. He moved from Changanassery to settle in Kakkanad seven years ago. “Kochi has its own beauty. Within a radius of 30 km you can find many different landscapes in Kochi for shooting a film—the sea, paddy fields, lagoons, rubber plantations, high-rises, port, harbour, forest, airport, railway station, villages. That’s why a majority of Malayalam films are now shot in and around Kochi,” adds Salu George. “There is no such location in Kerala as Kochi. Everything is available here”, says Lal, director, actor and producer. He is now staying at Kakkanad. “Besides good locations, all technical facilities are also available here. With new equipment and studios, Mollywood will prove self-sufficient in filmmaking technologies within a short time. Until a few years ago we had to depend on Chennai for post-production works. With the launching of studios like Lal, Vismaya and DLS in Kochi, we can do the technical works at very competitive rates and save a lot of money,” says Lal. Editing, dubbing, sound effects, graphic work, song recording, final mixing—every facility is available here. Travel and transport facilities in Kochi are also very good. We have railway sta-

tions and an airport. So artists and technicians from Chennai and other parts of the country can reach here easily. After their work, they can also travel back easily”, says Lal. Availability of prime fitness centres like Talwalkars and Biorhythms is another attraction for artists to choose Kochi as their home. Samvritha Sunil came from Kannur to Kochi three years ago and has settled at Kaloor. “I started learning dance as a child. I continued this till I reached Kochi. Gradually my travelling for shooting purposes became more frequent, which affected my dance classes. Then I decided to go to a fitness centre. I benefit a lot by attending the centre. I spend at least one hour in the gymnasium after shifting my residence to Kochi”, says Samvritha. “Kochi is the main venue for the poojas of all Malayalam films. I had great difficulty reaching here from Kannur for such programmes. But now it is easy. Most of the activities for Malayalam films presently take place in Kochi.” says Samvritha.

Just as in any other budget, duties of some items have either

By G Rama Mohanan Nair

been reduced or enhanced and some items have been exempted from duties.

MSMEs and Union budget

Some welcome gestures T

hough a lot of post-budget analyses and discussions have taken place, very little has appeared on the budget’s impact on the mini, small and medium enterprises (MSMEs). An impression has been created that the Finance Minister has not done justice to them. But what were pre-budget expectations of the sector?

In her speech to Parliament, President Pratibha Patil said that the nation recognized the contributions the MSME sector had made towards employment generation and economic growth. MSMEs contributed 8% of the nation’s GDP, 45% of production and 40% of exports. She said the Prime Minister’s Task Force headed by Mr T K A Nair, his Principal Secretary, had recommended easy and affordable credit; Government procurement quota for MSMEs; simplification of labour laws; an exchange for mobilizing finance for MSMEs and a comprehensive Khadi reforms programme (this has already been launched). The President said all these recommendations would receive due attention without much delay. MSMEs Minister Dinsha Patel in a talk in August last said that during the past two years about one lakh projects under the Prime Minister’s Employment Generation Project (PMEGP) had been sanctioned creating an employment potential for about 10 lakh people. “This scheme is a powerful tool for creating sustainable employment opportunities,” he said. He urged banks to speed up the loan disbursement to MSMEs under the scheme to meet the target of 59,714 projects in the current fiscal and asked the Chairmen and Managing Directors of banks to issue policy circulars to the financing branches to ensure fulfilment of the targets allocated. Out of a target margin money assistance of Rs 836 crore to create employment opportunities to 5.97 lakh people, he said, only 10% had been achieved as on date.

The Khadi and Village Industries Commission (KVIC) should reach every village, he said. Mr Patel said that under constant persuasion of his ministry the RBI had issued a notification for collateral-free loans up to Rs 10 lakh which was earlier only Rs 5 lakh. “Loans above Rs 10 lakh also are eligible to be covered under the Credit Guarantee Scheme. Hence banks can give collateral-free loans without any risk,” he said.

The expectations of MSMEs as seen from some of their sites were: reduction of central excise duty from 2% to 1%; change in the exemption limit of excise duty from the present Rs 1.5 crore to a minimum of Rs 5 crore; tax breaks for employment-intensive units rather than on the basis of capital invested; a modified goods and service tax (GST) structure which will aid transition to the GST regime in the context of delay in implementation of the GST proper; uniform VAT rates for all commodities in all States; higher quota, say 20%, in procurement of stores by public-sector units from the MSME sector; early implementation of the Task Force recommendations. Just as in any other budget, duties of some items have either been reduced or enhanced and some items have been exempted from duties.

(used for surfacing of roads) and specified machinery for its application.

Items for which duties have been increased are: cakes, some sweets, paper, some items made of paper, medicines, textile goods, medical equipment; microprocessors; floppy disc drives; CD-Roms, DVDs, CD writers; silver obtained from refining of gold; 130 items out of 370 which were formerly exempt from tax (branded ornaments are coming under this category. The remaining 240 items also will be brought under tax when the GST regime becomes fully operational). The infrastructure sector definitely got good development support with an allocation of Rs 2,14,000 crore. To encourage domestic investment in infrastructure bonds, all deposits in such bonds (tax-free infrastructure bonds) up to Rs 20,000 have been exempted from income tax under 80 CCF). To attract more foreign investment in infrastructure development the ceiling on such investment in the debentures of Indian companies engaged in this field of activity has been raised from $5 billion to $25 billion. Capital goods imported for the expansion of existing mega-power projects enjoy a confessional basic customs duty of 2.5% and full exemption from CVD. A parallel ED exemption is allowed for domestic units engaged in manufacture of such goods.

Items on which duties have been reduced are: raw silk; certain inputs for The proposed recognition of cold manufacture of technical fibre and yarn; storage facilities (cold chains) and poststainless steel scrap; certain inputs for harvest storage (warehouses) as inframanufacture of syringes and needles; structure sub-systems is also a welsome specified parts and accessories come gesture. of mobile handsets; some specified In other areas, SIDBI has been alloelectronic components; ink-jets and lacated Rs 5,000 crore for refinance supser printers; paper made out of waste; port to lending banks. NABARD has diapers and sanitary napkins; water filbeen granted an assistance of Rs 3,000 ters not using electricity; colour films; crore for the development of the pet coke and gypsum used for manuhandloom sector. This allocation will go facture of cement; crude palm stearin a long way in relieving the burden of used in manufacturing laundry soap; about three lakh weavers who are unenzyme-based preparations used for able to repay their loans. pre-tanning leather; bio-based asphalt March 31 - April 30, 2011 PASSLINE

The IT sector is satisfied by the provisions in the budget towards infrastructure development and creation of more educational facilities to carve out qualified people. IT has also been recognized as an effective tool for good governance. Among a slew of changes announced, both SEZ developers and units (including IT companies) now have to pay a minimum alternate tax (MAT) at 18.5 %( plus surcharge and cess). In addition, the exemption from dividend distribution tax (DDT) currently enjoyed is sought to be withdrawn, resulting in the SEZ developers having to pay 15% DDT. The Finance Minister has in fact gone one step further ahead by extending the concept of MAT (hitherto limited to companies) to limited liability partnerships of SEZ units and developers. These changes for the SEZ sector are going to have far-reaching consequences to the sector. It is alleged that there is not much in this budget to help develop the thousands of industrial clusters in the country except a few schemes of financial assistance and slightly liberalized loans to them. As far as Kerala is concerned, the fact that nothing is mentioned in the budget about the Kochi Metro rail project, the IIT and the Medical University in Kasargod which the Prime Minister had promised during his visits to the State is a real blow. In spite of some such few drawbacks, the budget on the whole is a balanced one prepared with the experience and wisdom gained by the Finance Minister over the years. (In 1984, he was rated as the best Finance Minister of the world, according to a survey of Euro Money magazine). (The author is a retired General Manager of Kerala SIDCO Ltd and is presently the Chief Consultant of Industrial Consultancy Services, Kochi).

PROJECT

Political and natural crises rein in stock markets Passline News Service

The 2G Spectrum and LIC housing scams coupled with the recent political unrest, the impending elections in five States and the announcement of corporate results this month, besides the Libyan and West Asia crises, are the major factors responsible for the lukewarm approach of investors to the market.

had been facing problems, has posted a profit this year. Likewise Citibank which was on bad days has returned to the profit path. That means the US economy getting back on the rails will naturally enhance the confidence of investors there who may withdraw their funds in India and invest them in their country which will make a dent in the Indian economy, he says.

the stock brokers.

he Indian stock market is volatile because of the unrest in Egypt and Libya, the West Asia crisis and the forthcoming Assembly elections in five States. While the market is lamenting the political uncertainty, the Japan quake and tsunami came as a bolt from the blue. Japan is rated as the third largest economy in the world, which has a large market in automobile and electronic products and services. Automobile giants like Toyota, Nissan, Honda and Suzuki and electronic majors like Sony, Panasonic, Hitachi and Toshiba are household names among Indian consumers. The downfall of the Japanese economy has been reflected in the Indian economy too. That is the result we see in the stock market all over the world. To know how the trend and trade in Indian bourses Ignatius will be and how far the market will sustain the trend, PA S S L I N E sought the opinion of some experts among

According to Mr Ignatius Kulirani, Kerala Regional Head, Karvy Stock Broking Ltd, Japan has a ‘recoupling’ economy with India. India has more imports from Japan than exports to it because it is an automobile and electronic giant. If Japan is unable to cater to our needs India can depend on other countries for these needs. But He agrees that the investment some of our infrastructure projects, procedure should be as simple like drinking water, for which Japan Bhuvenendran and easy as bank deposits as a provides the know-how and help, majority of people, nearly 56%, rely on bank may be affected. deposits and 36% on insurance and other The Japanese are very industrious and savings. Even now, the public have not hardworking who save a major much awareness about investing in shares. portion of their earnings. But they Even then, they are not very confident of takget zero percent interest on their ing risks by undergoing several complisavings in Japan. Even the US is cated formalities. So the Indian stock marsaid to be exploiting the Japanese ket will not show an uptrend immediately. habit of saving urging them to inKulirani vest in the American market which helps the US economy to grow. India will be having a sort of Japan’s ‘cheap funds’ which get good interest rates of 4% to 10% on saving in India. We lose that fund flow from there as the country is using the funds to rebuild the nation ruined by the natural calamities. Domestic developments like the increase in the interest rate on repo and reverse repo by the Reserve Bank of India will reflect in the share market as the index rate will go down, and in view of the impending Assembly polls in Kerala and four other States the market will be volatile for nearly six months, says Mr Kulirani.

Study of foreign economies and stock markets should have found a place in the educational curriculum even during the time of Prime Minister Jawaharlal Nehru. It was in 1991 that the present Prime Minister, Dr Manmohan Singh, then Finance Minister, sowed the seeds of the foreign investment idea in the Indian market. People should have been given lessons on stock markets even through the school syllabus in those days as investment in shares is speculative and a long-term procedure, says Mr Sanjeev Kumar.

Mr Bhuvenendran, CEO of Hedge Equities, says the Indian stock market was at an all-time high during Deepavali last year and trading experts expected this to continue for a long time because of the delay in the economic resurgence of developed countries. FIIs’ interest in the Indian market, the 8.5% or 9% growth forecast of the Indian economy by global rating agencies Mr Sanjeev Kumar and the growth of India Inc were the reaG (CFP), sons for this optimism. But the Head-Operamarket started shedding its tions and sheen slowly just like the skirTe c h n o l o g y , mishes of Deepavali crackers. JRG SecuriEven the recent Central budget ties Ltd, says doesn’t mean much difference. that after the This phenomenon is attributed to Sanjeev Kumar G global ecointernational and national asnomic recession the pects which directly influence the market. American economy The markets in the developed countries has now regained like the US and most of the European counconfidence. Even autries are back on track after a couple of tomobile giant GenTo page 13 eral Motors, which

PASSLINE

March 31 - April 30, 2011

MSMEs AND BUDGET

RGSF—convenient way to invest in gold Passline News Service

eliance Gold Savings Fund (RGSF) is the first gold fund in India which has opened a new avenue for investing in gold as an asset class. The fund seeks to provide returns that closely correspond to returns provided

by Reliance Gold Exchange Traded Fund (RGETF) which in turn invests in physical gold. RGSF enables one to reap returns of gold in paper form without the need of a demat account. It will give investors the opportunity to participate in the bullion market in a relatively cost-effective and convenient way. Investors can invest in RGSF through the physical mode across the country thereby making it easily available and convenient for non-demat account holders. It is a long-term disciplined investment technique under which you invest a fixed sum of money on a monthly or quarterly basis in a scheme at the prevailing NAV. This allows you to save and invest regularly while you are earning in a systematic investment plan (SIP). An investor in the fund can subscribe to and redeem units on all business days directly from the AMC, while purchase and sale of gold ETF units is a factor of liquidity on the exchange. By investing in gold through RGSF the investor can directly subscribe to/redeem units through the physical mode at the various designated investor service centres across the country thereby making it easily accessible and convenient. Investing in the fund in the physical application mode enables one to invest in a low-cost manner as the investor does

not have to incur charges like annual maintenance charges for the demat account, delivery brokerage charges and transaction charges incurred for investing through the dematerialized mode. The fund is targeted at all gold lovers and has been designed to make gold investments affordable to a larger set of audience. Why is it important to add gold to your portfolio? Gold has been considered amongst the best asset classes over a period both in terms of return and stability of performance. It has continued to breach its high (YOY) since 2001 till today. It is regarded as a foundation asset for wealth creation. From being an alternative investment option, gold has gained the status of ‘must have’ in any portfolio because it has the following unique benefits: Gold has a low/negative correlation with other asset classes offering diversification to the portfolio; It is less volatile than equity as an asset class and thereby helps to stabilize portfolio returns; Gold over centuries has maintained its value against inflation. It has kept the purchasing power intact and it has even increased it gradually; It has stood the test of time repeatedly and has outlasted all other financial and monetary assets during various periods of financial crises.

West Asian crises make a dent in our stock markets From page 12

years of economic slump. Natu rally the largest investors in the Indian market, FIIs, will withdraw their investments from the Indian market since their own economies have started to provide good returns for their savings, says Mr Bhuvenendran. The West Asian crisis particularly in Egypt and Libya made a dent in the stock prices in the country. Because of the civil war in these countries oil prices remained at an all-time high. It is obvious that the increase in oil prices will have a cascading effect on the economy. With the Indian economy already reeling under high inflation, the increase in fuel prices will have a double whammy effect for India. Oil prices must be somewhere between $75–$80 which is a comfortable zone as far as India is concerned, says Mr Bhuvenendran. There are other nationally important factors which will upset the bullish market. The 2G

Spectrum and LIC housing scams coupled with the recent political unrest, the impending elections in five States and the announcement of corporate results this month are the major factors responsible for the lukewarm approach of investors to the market. FIIs are also anticipating that the rating agencies may downgrade the Indian economy. Whatever be the present scenario it is certain that investors who stand by the market sentiment through thick and thin will gain in the near future. No doubt it will be a windfall for them, asserts Mr Bhuvenendran. Mr Varghese Mathew of Cochin Stock Exchange has expressed nearly similar views as are aired by his counterparts in the share market. According to him, the market is showing the bearish trend because of the political crisis in Libya now, following Egypt and West Asia. The natural calamity in Japan has not had much impact on our

economy as India has a minimum stake in the Japanese economy. The uptrend in the US market won’t make much impact on the Indian market. Of course the boost in the American economy will slow the inflow from that market but there is not much withdrawal from the Indian market. The jump in crude oil prices and the trend towards higher inPASSLINE

flation may pour cold water on the investors, Mr Varghese Mathew says. He agrees that equity-based investment in mutual funds may also give the market a positive outlook although its regulation and formalities are yet to be completed. He says the forthcoming election issues don’t show

March 31 - April 30, 2011

much impact in the bourses as the domestic market shows a buoyant trend but the Libyan power struggle is the major cause of concern in Indian markets. He doesn’t expect an immediate jump or slump in the market. It may dilly-dally between the 5%-10% growth parameters.

By K Vijayachandran

All quiet on the industrial front F

During the past five years not a single Statelevel public enterprise (SLPE) has been closed down. Many State-owned units that had remained closed down for several years have reopened their shutters and resumed commercial operations. The financial performance of most SLPEs under the Industries Department has improved. There has been a remarkable drop in losses and an impressive rate of growth in profits by the State-owned industries. The number of loss-making enterprises among the 41 SLPEs under the Industries Ministry had dropped to 13 from an all-time high of 31 within the four-year period ending 2009-10. Mr Elamaram Kareem has completed a virtually trouble-free five-year term as Industries Minister.

sidiary, Kerala Agro Machinery Corporation (KAMCO), the first of its kind in the country, with Japanese collaboration. These public enterprises have, by now, forgotten their founding objectives and operate under conditions near total policy vacuum at the State level. They continue to be relevant even today, perhaps even more, under the market pressures generated by globalization and liberalization of trade in agricultural commodities. Modernization of Kerala-specific crops of coconut, spices, rubber, tapioca, rice etc demands the development of appropriate technologies and local manufacture of a variety of implements and machinery.

or the past five years, it has been all calm and quiet on the industrial front in Kerala. Not many workdays have been lost because of strikes, lockouts and layoffs. There have been no reports on major industrial units being closed down for nonavailability of water or electric power during the period. Non-availability of such infrastructure inputs has not led to delays in the completion or abandoning of industrial projects. The Industries Ministry and its promotional agencies had been ready with all such essential infrastructure, including industrial land, and waiting for all and sundry to come and invest in Kerala. It appears the State has had a truly investor-friendly climate all through the last five years. During the period not a single State-level public enterprise (SLPE) has been closed down for lack of working funds or for other reasons. Many State-owned units that had remained closed down for several years have reopened their shutters and resumed commercial operations. The financial performance of most SLPEs under the Industries Department has improved. There has been a remarkable drop in losses and an impressive rate of growth in profits by the State-owned industries. The number of loss-making enterprises among the 41 SLPEs under the Industries Ministry had dropped to 13 from an all-time high of 31 within the four-year period ending 2009-10. Mr Elamaram Kareem has completed a virtually trouble-free five-year term as Industries Minister. A sort of self-satisfaction of having ushered in a new era of industrial development in Kerala is writ large on his ever-smiling face. Kerala has an intellectual class that keeps complaining about its backwardness and its painfully slow industrial development. Its attention, today, is glued to IT and BT, believed to be the in-thing for the rapidly emerging knowledge society, higher education in management, and tourism development using water and forest resources and ayurveda. It is believed that the Industry Minister has nothing much to do in those more sophisticated intellectually demanding areas of development. There is the Chief Minister and other ministers to look after them. And, then, the Industry Minister is not expected to go around and check whether basic infrastructure development in sectors like power, water supply, health, environment, transport, communications etc etc needs any inputs from his ministry. Visualizing and planning for that sort of tie-ups and economic linkages is nobodyâ&#x20AC;&#x2122;s responsibility today. In fact the State Planning Board was set up with that sort of PASSLINE

Elamaram Kareem purpose, functions and objectives. However, it had completely withdrawn from that type of responsibilities during the second Nayanar Ministry even before the IBRDsponsored economic reforms of Narasimha Rao. The role of the Planning Board has virtually withdrawn from the physical aspects of the regional economy and its role is now confined to its financial and economic abstractions. Kerala is a fairly large market not only for consumer goods but also agro-machinery and agro-processing technologies. The market for these capital inputs needed for modernization of our agriculture has been growing only slowly for a variety of reasons. Neither the Agriculture Ministry nor the Industries Ministry of Kerala has a perspective for the modernization of farms using more productive implements and machinery. Long ago, T V Thomas, the Industry Minister of the first EMS Ministry had set up Kerala Agro Industries Corporation (KAICO) with this sort of perspective. Later, it started the production of tractor tillers under its sub-

March 31 - April 30, 2011

It is often argued and believed that Kerala farms could not be modernized in the past because of militant labour. However, at the all-India level, where there was no fear from labour militancy, farms continue to be operated in far more primitive ways compared to Kerala. The backwardness of Indian agriculture has nothing to do with labour militancy. Policies and programmes for agricultural development in the country are mostly administered by a bureaucracy, dominated by the Union Government with very little involvement of farmers and their organizations at the grassroots level. There are about two dozen agro-research stations operating from Kerala soil, including the Kerala Agricultural University. They are either funded or directly administered from Delhi by the Central Government. They have little or no linkages with Kerala farms and farming communities. The very concept of industrial development in support of farm modernization was given up by the Central Government as a matter of policy long ago. What the Kerala Government could do in the best interest of the State, under the circumstances, is a key policy question that cannot be ignored any more in the context of rapid globalization. To page 15

Needed: clear perspective on economy From page 14

If we are serious about Kerala developing an industrial development policy of its own, it is necessary to have a perspective as indicated above in several sectors of our regional economy. For example, we have a fairly large electrical engineering industry with half a dozen enterprises each, in the public and private sectors. Their resources could be pooled for serving the regional electrification programme as well as for making use of Keralaâ&#x20AC;&#x2122;s hydropower resources in a cost-effective manner. They could be helped to jointly explore export markets. This sort of policy initiatives are not even accepted as the legitimate role of the Industries Department. Instead, these industries are compelled to indulge in unhealthy competition among themselves and they have no plans or vision for joint efforts towards standardization, technology development or R&D. Kerala State Electronics Development Corporation (KSEDC or Keltron) and its subsidiaries were set up as a specialist organization for promoting the electronics industry in the State. They had performed fairly well during the initial decade and had succeeded in laying the foundations for a diversified electronics industry in the State. Keltron units and the basic skills and technologies acquired by them continue to be of great relevance even today and that is why they have survived long years of indifferent policies and neglect. Its accumulated losses or debt have to be seen as a good investment made for promoting the electronics industry in the State. This sort of policy initiative was taken during the last Nayanar Ministry, but because of wrong political understanding and bureaucratic bungling, it took a long time to take off. Keltron is breathing a new life with the help of Mr Elamaram Kareem. However, despite its professed patronage of the public sector and commitment to professional management etc, even the present LDF regime did not succeed in re-assigning KSEDC with the original role for which it was incorporated some four decades ago. Policymakers and administrators in the State Government hardly recognize the importance of using the synergy of existing industries and enterprises in the formulation of policies and programmes for industrial development. This is the typical bureaucrat-politician approach. Mineral sands extraction and separation is a nearly century-

old industry of Kerala. And the beach sands of Kollam, with its rich rare earth contents, are the only mineral wealth of the State with some economic value and significance. They are used for the manufacture of titanium pigment and Kerala has the monopoly over the national market and the State has two manufacturing units using different technologies; one at Thiruvanathapuram and the other at Kollam. These units could share many things from raw material mining to market research and chemical processes. Despite several years of their existence under a common ministry, they function in water-tight compartments and are not encouraged to join hands and tackle common problems, including those of HRD. This sort of primitive approach could be seen in the administration of the two cement plants as well as the chemical engineering industries owned by the State Government.

However, even the present LDF ministry, has not taken up these issues as a key policy issue.

There are around 20 Central

This international seminar was being cleverly used for

public sector units in Kerala, and most of them are doing well and earn good profits: This is excluding the Cochin port, establishments of Post, Telephone, Doordarshan, Railways etc and the numerous R&D organizations. For the bureaucrats and ministers who manage them from Delhi, these CPSUs are of little concern, unlike their employees and local people. In the early days, the State Government itself was holding nominal shares in these enterprises and was represented on the board of directors. Even otherwise, the State Governments have the legitimate right, on several counts, to influence these PSUs for local industrial development. But such opportunities were seldom used by the State Industries Ministry as a matter of policy. There have, of late, been some welcome changes in recent time.

The Industries Department had organized a two-day seminar at Kovalam on public sector industries. It was the fourth in the series of seminars on the subject, after Kochi, Kozhikode and Delhi, and was called an international conference. More than 70 experts and academics from different parts of the world, including India and a few from Kerala, were listed as eminent speakers along with a dozen or so top trade union leaders. There were an equal number of listeners, mostly senior executives of State public sector industries. The focus of the debate was mostly on the desirability or non-desirability of public enterprises. These sorts of theoretical discussion had nothing much to do with the real problems facing the State-level public industrial enterprises or the Central public sector units like FACT, HMT, CSL and others.

highlighting the success of the programme for restructuring or rehabilitating public sector industrial units by the LDF Government. More than Rs 210 crore was spent on this according to the ministry reports circulated at the seminar. More than half of this was used for onetime settlement of debts with the bankers and for voluntary retirement of employees. The bulk of the remaining funds was spent on providing working capital, and only very little on technology or new machinery. There were no reported claims on increase in employment or production capacities because of these investments. Thanks to lower interest payments and one-time settlements, several units could reduce their financial losses and some perennial loss-making units had registered even nominal profits. As a result of rePASSLINE

duced corruption and employee vigilance, many profit-making units like KMML had increased their profitability. Most units do not have competent CEOs and director boards to lead them, even now. Cadre policies and human resources development programmes are virtually nonexistent. There are even reports that many units have signed long-term agreements with the unions even before finalizing short-term or medium-term business development plans. The claims of big successes and major breakthroughs in the management of public sector industries do not appear to be supported by facts. Despite the much-publicized road shows and the like, the performance of KSIDC continues to be tardy. Its emphasis has shifted from the promotion of large and medium industries to infrastructure development and real estate business. It has virtually redefined its role identical to that of Kinfra. It has come to believe that Kerala does not have much scope for medium

or large manufacturing industries and the focus should be on service industries, IT, tourism etc. KSIDC seems to be struggling to rediscover its new role under the new dispensation without any policy directive from the Government. On the other hand, the performance of Kerala Financial Corporation has substantially improved qualitatively as well as quantitatively. Investments in the SSI sector have considerably increased during the LDF regime but the Industries Department lags behind other States with regard to the implementation of the provisions of the new MSME Act and related e-governance procedures. Industrial estates, industrial parks, growth centres etc continue to be bureaucratically administered with no involvement of industry associations and local governments. Invest-

March 31 - April 30, 2011

Mr Elamaram Kareem may claim that his administration was cleaner and had a different set of policies compared to that of his predecessor, Kunhalikutty and was focused on the public sector and the traditional and SSI sectors.

ments in traditional industries like handloom, khadi and coir have increased two to three times compared to the UDF times. However, little has been done to improve the quality of administration with the active involvement of local governments. Mr Elamaram Kareem may claim that his administration was cleaner and had a different set of policies compared to that of his predecessor, Kunhalikutty and was focused on the public sector and the traditional and SSI sectors. However, there was very little change in the delivery mechanism and he was totally dependent, like his predecessor, on the IAS or clerical bureaucracy. Even the promised action against the corrupt was too slow and with very little impact. Bureaucracy is naturally dead against democratic reforms and professionalism of administration and this could be resisted only by resorting to a more decentralized administration and participative style of management. All sections of the working people in Kerala have their own trade or class organizations. These organizations and the faith of the people in democratic values are the factors that distinguish Kerala from most other parts of India. Kerala society is ripe for experimenting with industrial democracy or participative management, which is widely practised in developed countries. This could serve as the USP for Keralaâ&#x20AC;&#x2122;s industrialization efforts in the national context. But Mr Elamaram Kareem, despite all his progressive views, was a total failure in understanding the real significance of such possibilities.

Union budget allows FIIs direct access to equity MFs Passline News Service

he Indian mutual fund houses reeling under strict regulatory measures related to commissions and disclosures have got a reason to rejoice. To liberalize the portfolio investment route, the Finance Minister, Mr Pranab Mukherjee, while presenting the Union budget for 2011-12 allowed the mutual fund industry to permit the Sebi-regulated mutual funds to accept subscriptions from foreign investors who meet the KYC(know your customer) requirements for equity schemes. This would enable the Indian mutual funds to have direct access to foreign investors and widen the class of foreign investors in the Indian equity market.

One thing is certain: the stock market will get a boost as the market is open for foreign players without going

According to the current norms, foreign investors need to first register with Sebi before investing in the domestic equity markets. As a result, mid-sized and smaller funds which did not have a significant India allocation chose alternative investment avenues, including offshore and participatory notes (PNs). Now, to proceed they just need to comply with the KYC norms and start investing. The announcement in the budget on the FIIs’ investment in

ers are competent enough the weightage of the funds will not come down even if the Nifty crashes down. The investors must be careful about these tips before investing in MFs”, says Mr Bhuvenendran. According to Mr Ignatius Kulirani, Kerala Regional Head, Karvy Stock Broking Ltd, the new budget proposal is a welcome gesture to the equity market which will raise fund flows from foreign investors and help the fiscal deficit to come down. The Finance Minister has already set the fiscal deficit at 5.1% for the current financial year and further reduced the estimates to 4.6% for 2011-2012. India’s fiscal deficit had ballooned to 6.3% of the GDP in 2009-10 in view of stimulus spending worth billions of dollars to combat the global financial meltdown. The pre-budget Economic Survey tabled in Parliament had pegged the fiscal deficit for the current fiscal at 4.8%. But before the operations come into being there are certain regulations like the KYC norms to be met by the fund houses. Once the norms are under control the stock markets will see an incessant demand for equitybased mutual funds. So we can see a buoyant trend in the stock

the details furnished by a foreign investor are transparent? According to the February 28, 2011 data available with him foreign investment runs to Rs 7.07 lakh crore in India. Of this 71% is bonds-based investment, 26% equity-based and about 3% in gold ETF. The rate of participation comes to about 4.7 crore folios according to the September 30, 2010 record. As the KYC norms and other formalities are mandatory even for a Re 1 investment the retail investment becomes hard, he says. The budget proposal by the Finance Minister may not make its impact on the stock market all of a sudden. There are regulations to be followed before an investor starts his operation in the fund. Pan card is the prime requisite for investment, and KYC norms follow suit, according to some sources in the SBI Mutual Fund.

Management Ltd of Reliance Mutual Fund. The investment mood of the investors will be mopped up as the investment is being made without much hiccup. If the financial institutions vie for investment, individuals also get the inclination to invest in mutual funds, says Mr Subin. Whatever be the trend of the market, infrastructure will be the key factor for investment and growth. We are lacking in infrastructure whether it is electricity, railway or agriculture. The growth of the economy depends on the impetus to infrastructure, he says. He agrees that the reason for the inflation and the price fluctuation leading to increase in prices of essential items is the lack of infrastructure and logistics. Even if predictions do not make much sense in financial markets, he is sure the stock

The new proposal will not make the market vibrant or buoyant as stock market boom or doom depends on various factors like oil prices, political reasons, inflation and unseasonal unrest. Even the present market is slithering on account of the West Asia conflict, they say. One thing is certain:

through many formalities and formulas. Naturally new schemes will be launched in every distributor company.

mutual funds will spur growth not only in the mutual fund sector but also in the equity market. Mostly all the funds are equity-linked and investments by the FIIs in the funds will indirectly benefit the equity market also, according to Mr Bhuvenendran, Chief Executive Officer (CEO) of Hedge Equities, Kochi. Though there are some formalities like KYC norms, overall it will give a boost to the market. Allowing trading in the funds is also a good step. Removal of entry load and availability of a variety of funds in the markets will have a positive impact. “The investors must check the track record of the funds as well as the fund managers. If fund manag-

market. Till the regulations are fulfilled we can’t predict the quantum of business that we can do, Mr Kulirani adds. Mr Sanjeev Kumar G (CFP), Head-Operations and Technology, JRG Securities Ltd, says the formalities of the new proposal have yet to be announced. A timeframe and tax structure for investment have yet to be formalized. Many proposals announced won’t materialize as they remain only on paper or end in a fiasco. Moreover, to ensure the KYC norm is not an easy procedure. How can we ascertain whether PASSLINE

the stock market will get a boost as the market is open for foreign players without going through many formalities and formulas. Naturally new schemes will be launched in every distributor company. The total business in MF in Kerala is around Rs 5,000 crore. For one-time investment of even below Rs 500 in SIP the formalities like pan card and KYC norms are applicable. The new budget proposal giving access to foreign investors in Indian mutual fund will definitely bring money to the market, according to Mr Subin Philip, Area Manager, Reliance Capital Asset

March 31 - April 30, 2011

market will show a bullish trend in the next fiscal year. Axis Mutual Fund sources say that India is a growing economy with wide scope for an investment climate. But the political and natural issues will immediately affect the stock market. Scams like 2G Spectrum, DMK pullout from the Ministry and the West Asia crisis made the market volatile making investors reticent to invest for the time being. Once the uncertainty is over the investment mood will be restored. The result of the budget proposal allowing foreign investments in mutual funds will show its result when the political and seasonal conditions become conducive to investment, the sources point out.

Magnanimous Menon C

heril Krishna Menon, popularly known as C K Menon, is not merely an entrepreneur but foundermentor of a business empire, the Behzad Group of Companies based in Doha, consisting of nearly a dozen and a half companies dealing in different products and services in Kerala, some other parts of India and abroad. Besides being at the helm of affairs of these establishments he also holds key positions in various public bodies the world over and actively participates in innumerable sociocultural activities. The gesture shown by him by proffering Rs 80 lakh to save the life of four Malayali Muslim youths from the gallows in Saudi Arabia does not surprise those who know Menon as they know his concern is not for the cadre or creed but the community irrespective of caste or religion, a trait rarely seen in an industrialist.

A philanthropist who believes that charity is not being merciful to the less fortunate but is their right, Menon earmarks 2.5% of the net profit of his companies for ‘sakkat’ (help or money given to poor people). His charitable and social activities are widespread and have great influence on the people of India. He built and handed over 100 houses to the slumdwellers of his birthplace Thrissur some time ago. He played a major role in constructing houses in the ‘Laksham Veedu’ (one lakh houses) Colony at Puthupally and the M N ‘Laksham Veedu’ restoration project announced by the Government of Kerala. Menon is the patron of ‘Adarsh’, a model institution that epitomizes compassion and love. Children from various religions are studying at this charitable venture functioning at Thrippunithura, Kochi. ‘Adarsh’ is dedicated to the rehabilitation of children having symptoms of cerebral

C K Menon with wife Jayasree palsy and other motor-sensory childhood development disorders like autism, on a purely charitable basis. He recently built for his Muslim brethren a masjid where 400 people can offer prayers at a time. He has also erected a life-size statue in memory of Saint Sister Alfonsa at the new bypass junction in

Changanassery. He was also deeply involved in the establishment of the School of Bhagavat Gita in Thiruvananthapuram. It was in recognition of his services to humanity and the community and his entrepreneurship that the Government of India conferred on him the coveted Padma Shri title.

KFC mulling over SEZs’ development

erala Financial Corporation (KFC) is planning to diversify its business activities into areas like development of special economic zones (SEZs), clusters, incubation centres etc by acquiring abandoned or lowactivity industrial areas as future projects. The organization which is marching towards becoming the most-sought-after financial institution in the State has presently become more visible and approachable under the stewardship of Mr K M Nair, Managing Director, who is a veteran in the field of industrial finance.

vestment, according to the recent Bureau of Public Enterprises review of PSUs. “In the 2011 financial year the disbursement is likely to touch Rs 500 crore against Rs 420 crore in the earlier year. We have initiated a lot of steps to achieve business growth this year,” Mr Nair says. Organizing business meets in important centres and reducing interest rates for different categories in the manufacturing sector are a few of them. A significant development this year was the exclusive support given to a footwear cluster consisting of 41units in Kozhikode. Developing a plastic K M Nair park in Kochi jointly with Aluva Plastic Consortium Pvt Ltd is also being considered.

During the financial year 2009-10, KFC had a net profit of Rs 34 crore and a growth rate of 183%, and could declare 4% dividend on its paid-up capital. And it contributed Rs 8 crore as its share to the State exchequer.

As part of internal strengthening, a total automation business operation has now come into effect under a new core financial solution plan implemented through Tata Consultancy Services. The consultancy division has been strengthened to provide guidance to entrepreneurs. An extensive skill development programme for staff has been launched in association with the College of Agri Banking of the Reserve Bank of India, Pune. For a project of up to Rs 1 crore, the mechanism for appraisal has been simplified with the Credit Appraisal Rating Tool (CART). A special appraisal team has been constituted among zones like Thiruvananthapuram and Kochi for higher-value loans. It enables the speedy appraisal of projects, says Mr Nair.

One of the few public-sector units running at a profit, KFC stands second in dividend declaration, fourth in profit-making and sixth in capital in-

The institution has had the level of success it has achieved only because of Mr Nair’s remarkable experience and expertise as he had a long stint with the PASSLINE

Industrial Development Bank of India (IDBI) and Small Industries Development Bank of India (SIDBI). The humble Mr Nair, however, attributes KFC’s success to his subordinates and his Minister, Dr

March 31 - April 30, 2011

Thomas Isaac. “My Minister is so cooperative with us and knows thoroughly about the institution’s affairs. Once we convince him, he always supports and encourages us,” says Mr Nair.

Maldivesâ&#x20AC;&#x2122; very small population of roughly 1,03,700 (2006) is scattered in different islands. Only the capital city of Male has some advanced medical facilities. Major surgeries, however, cannot be performed there. Moreover the cost of health facilities is very high. It is the lack of facilities and the high cost that force them to visit Kerala for treatment.

Passline News Service

erala is reckoned as one of the most important tourist spots in India and the world. Medical tourism is also catching up very fast in the State. The resorts that have come up in several parts, es-

PASSLINE

pecially in Thiruvananthapuram and Kochi, for ayurveda treatment and spa facilities are providing good service to their clients. They attract thousands of tourists to the State for health-based treatments. A large percentage of these visitors are from Maldives. For Maldivians, Kerala is the cheapest option for medi-

March 31 - April 30, 2011

cal treatment. Moreover, Thiruvanantha puram is the closest city to Male, the capital of the Maldivian islands. There are many reasons why foreigners choose Kerala for medical treatment, the huge cost in their homeland being the prime one. Many also would like to To page 21

nanthapuri Hospitals and Research Institute (AHRI) is reputed to be one of the finest institutions in the world of health and healing. Equipped with the latest and most advanced facilities, AHRI is among the few capable of treating rare and highly critical conditions. The state-ofthe-art infrastructure, worldclass equipment and dedicated staff make Ananthapuri a oneof-a-kind experience for the patients. Situated on KazhakuttamKovalam by pass, about 3 km from Thiruvana nthapuram railway station and 2 km from Thi ruvanantha Dr Marthanda Pillai puram airport, the hospital is easily accessible to everyone. It has some of the most eminent doctors in the country—highly experienced, skilled and distinguished in their respective fields of expertise—in whose hands the patients’ healthcare needs are safe. Complementing them and paving the way for the smooth functioning of the hospital is a team of highly dedicated personnel manning the various departments like Anasthesiology, Ayurveda, BioChemistry, Cardiology, Cardio Thoracic Surgery, Casualty, Dental and Maxillo Facial Surgery, Dermatology, Endocrinology, Endoscopic Surgery, ENT, Gastro-enterology, General Medicine, General Surgery, Gynaecology, Medical Oncology, Microbiology, Neonatology, Nephrology, Neurosurgery, Neurology, Ophthalmology, Orthopaedics, Paediatrics, Paediatric Surgery, Pathology, Plastic Surgery, Psychiatry, Physical Medicine, Pulmonology, Radiology and Urology.

ready achieved excellence in the field of its activities. Combined with powerful infrastructure,

world-class doctors and dedicated staff, it undoubtedly has ushered in a new world in

Kerala’s healthcare sector. “When compared to other potential sectors, healthcare has tre-

Aiming to play a predominant role in the development of healthcare services in India by setting new standards and trends and bringing about changes cherished and earnestly sought by society, AHRI has a healthcare package called ‘Life Check’ for the better health of the people. Guided and led by Dr A Marthanda Pillai, Chairman and Managing Director, AHRI has alPASSLINE

March 31 - April 30, 2011

mendous scope. Ananthapuri’s vision and avowed mission reflect our inner drives that help us pursue this noble goal,” says Dr Marthanda Pillai.

Rev Dr Jose Aikara with Kiran Bedi, the supercop

...................................................................................................

Mission, a congregation of priests the large manorial mansions and solifounded by St Vincent De Paul in the 17th tary farm houses with the winding councentury. In 2003 he founded De Paul In- try approach roads. All will baffle your ternational Residential School (DPIRS), alacritous senses as to whether you have Mysore, and in 2004 obtained his MBA lost your way to DPIRS, but do not get from Pune University. In 2005 Rev Dr mystified. You haven’t. At the Paper Mill Aikara went to Tanzania and started two Circle you will turn your wheels to your English-medium schools. In the same left on the Srirangapatna-Hunsur Road year he was elected to the office of the and suddenly start admiring the huge National Secretary-Treasurer, ASISC. He gateway of DPIRS where you will be correceived another national award for his dially stopped for a few queries which contribution to the field of education from are customary at any such centre of Union Human Resource Minister Kapil learning. You will soon be invited by a world of diverse fauna and flora: from the Sibal in 2009. Rev Dr Aikara is currently a member lippy lizards to the sparring sparrows and from the red-red roses of the ICSE Board, the to chic-choc cherries. ICSE Examination ComAs you are on a mittee and ICSE Finance stroll, touring the camCommittee. He has been pus (a testing time for given a third term as your fitness and ASISC National Secrestamina to tour the 50 tary-Treasurer till 2012. acres, of which playIt was in the summer grounds alone occupy of 2002 that Rev Dr Jose 18 acres), you will presAikara came to the tranently be captivated by quil ambience of the the scenic beauty of girBrindavans of Mysore in dling gardens with bowsearch of a piece of land ers and fountains, the Rev Dr Jose Aikara to pioneer a school which would be named after St Vincent De Paul. Aquatic Centre (10-lane and half-OlymFr Aikara knows that history beckons pic size), the most modern state-of-theDPIRS as his school prepares to break art auditorium (the best in the city) and new grounds by entering into a tie-up with so on. The interactive classrooms (Smart GCSE (General Certificate of Secondary Class Programme) of DPIRS have Education, Cambridge University) and thus to house hundreds of young aspir- emerged as lively and active processing ants for whom education in India and units. It marked the advent of an era abroad has become a passion as well where the students are not merely mute spectators but self-discovered poweras an obsession. However, Mysore witnessed a mys- houses ready to be commissioned. “DPIRS is a different school of terious slumber in the field of education th thought: an international school with a during the last decades of the 20 century. It necessitated an educational sheer Indian perspective and perhaps resurge and the advent of the 21st cen- the only school with a teacher-student tury saw the birth of a different school of ratio of 1:5, says Rev Dr Aikara. De Paul thought: DPIRS, Mysore. Paying a visit to is the alma mater of students hailing from this centre of learning itself is a unique more than 13 countries. The school monitors each of its students very closely experience. If you drive out of the City of Mysore in pursuit of their self-discovery: to be the and leisurely make your headway to- “Lighted Ones to Lead the World”. Some of the academic and co-curwards the Brindavan Gardens along the pucca road flanked by the arid paddy ricular features at DPIRS are: classes fields—harvested and to be gleaned— from KG to +2; ICSE and IGCSE up to Std you will unwittingly be heading through X; ISC, GCE and PU for Std XI and XII; some of the most picturesque land- GCE ‘O’ and ‘A’ level; TCL (Trinity Colscapes of the city outskirts, spotted with lege, London) Music; synthetic tennis ..................................................................................................................................................................................................

ev Dr Jose Aikara asked for nothing in return from the Heavenly Father for his warmth and wisdom, his caring and cautions, his advice to humanity and assistance to the poor and needy, but only His grace from above and he has received it abundantly even before asked. When Fr Aikara (so has he been called by his nearest and dearest) came to Mysore in the summer of 2001 he had taken along with him the greatest of weapons of a social reformer, his morale, which had been gifted by the Almighty and sharpened and used by him for not less than three decades. Born in an ancient and aristocratic family (Aikara) in 1947 to A S Abraham and Mariamma Abraham, Fr Aikara was called to join His Royal Priesthood in 1967. In 1977 he was ordained a priest of the Congregation of Mission (CM). In 1976 he obtained his BD (Bachelor of Divinity) and in 1980 became a BSc in Botany from Loyola College, Chennai. After taking his master’s from Madras Christian College in 1982 he moved towards the North. He was destined to be the founder Principal of De Paul School, Berhampur, Orissa, in 1987. In 1988 he took his BEd from the University of Berhampur. The soft-spoken and sweetsmiling priest became a Doctor when the University of Berhampur awarded him a PhD in Botany (Photo Periodism) in 1994. In 1995 Rev Dr Aikara was elected Secretary- Treasurer of the Association of Schools for Indian School Certificate (ASISC), Orissa, and in 1996 he successfully completed his LLB from Berhampur University. In 1997, he got his name enrolled in the Orissa High Court, and the same year witnessed great accreditations being conferred on him. In 1997 he received a national award in the field of education, was elected to the ICSE Board, Delhi, and also to the Standing Committee of the ISC and ICSE Examinations. Rev Dr Aikara became the Vice-President of ASISC National in 1998 and the same year became its National President. In 2000 he got a transfer from De Paul School, Berhampur, to Visakhapatnam and in 2001 was appointed Provincial Superior of the South Indian Province of the Congregation of

Swimming Pool

Tennis Courts

PASSLINE PASSLINE

March 31 - April 30, 2011 March 31 - April 30, 2011

DPIRS breaking new grounds Rev Dr Jose Aikara—an icon for an iconic institution ...................................................................................................................................................................................................................................................................................................................................................................................................................................

Rev Dr Jose Aikara with Dr A P J Abdul Kalam, former President of India

............................................................................................................................

De Paul International Residential School: an aerial view

............................................................................................................................

courts; 400m track stadium; 4 concrete basketball courts; half-Olympic-size 10lane swimming pool etc. The most important point in DPIRS is the space. There is a space for everyone and everything: a space to grow and to bloom; a space to forget and forgive; a space to cut the uncut and a space to break and make. The same space can be felt in the large classrooms, the sportive playgrounds, the aromatic refectory, the chirpy orchards, the homey dorms, the inviting library, the soothing nursingroom and the nostalgic corridors. This is a school where each of its students identifies that he/she is destined to occupy his/her space and to lead the world one day. Thus, DPIRS is a place which does always provide its children with a space to learn, unlearn and relearn. This is what that makes the school “A School of Different Thought”. The great visionary in Rev Dr Aikara fully exploits the gravity of the situation in whatever he does. It’s a delight to work with him and observe him work: a rare combination of experience, maturity and authenticity. His voice has become the most trusted and powerful voice in the field of education in the recent years. “Say what you can do and do what you say” is his slogan. He doesn’t have any false pride as far as what he is going to do. One will love to admire his simple, unassuming way of functioning well supported by his high EQ and soaring IQ. So extraordinary, in fact, that Fr Aikara’s list of accomplishments in bringing a paradigm shift to the lives of the poor and the needy and to the dispossessed and the unwanted—particularly in the notoriously dilapidated and crime-infested suburbs of Orissa— would warrant our immediate appreciation and approval. He knows that he is playing the good Samaritan when he wipes the tears from the pain-ridden ruts of the hapless cheeks. Contact: De Paul International Residential School, Belagola P O, Srirangapatna Taluk, Mandya District, Karnataka, INDIA Pin: 571 606 Ph: 0821 3290401, 3290402 E-mail: dpirs@yahoo.co.in, aikarajose@yahoo.com

Auditorium

Lack of medical facilities From page 18

"If we introduce a medical tourism package of holiday and health treatment, it will attract more people from Maldives. In Kerala there are lots of hospitals with good facilities and the charges are moderate. Moreover, creating awareness about our medical facilities too is important".

combine their vocation and treatment. In some countries like Maldives such sophisticated medical facilities as are available in Kerala are lacking. So the locals need to travel abroad for these. Maldive is the smallest Asian country in both population and land area. Of Maldives’ 1,191 islands, only 200 are inhabited. The Maldivian economy is based on tourism and fishing. The very small population of roughly 1,03,700 (2006) is scattered in different islands. A majority of the people live in the capital island Male, which has the best of facilities available in the country, like the IGMH Hospital (Indira Gandhi Memorial Hospital) and some private clinics. Major surgeries, however, cannot be performed in these centres. Locals use these facilities only in emergencies. At the same time the cost of health facilities is very high. It is the lack of facilities and the high cost that

force them to visit Kerala for treatment. “I have been treating patients from the beautiful island of Maldives for the last five years. Some families continue to keep in touch with me even months and years after their treatment”, says Dr Paulose, an ENT consultant and surgeon of Thiruvananthapuram’s Jubilee Hospital, who has over 35 yeas of experience. Being a Christian mission hospital, its administra-

tion provides special care for Maldivian patients. Jubilee is a multispeciality hospital with 42 consultants in all surgical and medical specialities. “Monthly we get more than a hundred patients from Maldives. Most of them come here during school holidays. If we introduce a medical tourism package of holiday and health treatment, it will attract more people from Maldives. In Kerala there are lots of hospitals with good facilities and the charges are moderate. Moreover, creating awareness about our medical facilities too is important”, says Dr Paulose. “Kerala’s record in healthcare has earned a good reputation everywhere because both private and Government hospitals are working very well in the State. Equipment and facilities of global standards are available in these centres besides experienced doctors. Hence Maldivians opt for our State,”says Mr E M Najeeb, Executive Director of the Kerala Institute of Medical Sciences, Thiruvananthapuram. “Several medical colleges, medical education and research institutes and healthcare centres contrib-

PASSLINE

March 31 - April 30, 2011

ute to the success of the healthcare industry in the State. Kerala, especially Thiruvananthapuram and Kochi, will be the main hangout of people coming from Maldives as part of medical tourism in the near future. More than 15,000 Maldivians come to KIMS annually”, says Mr Najeeb, who is also the Chairman and Managing Director of Airtravell Enterprises. According to Maldivians, Kerala is rightly referred to as God’s Own Country. The State is renowned for its ancient ayurvedic therapies not only in India but throughout the world. Every type of treatment is available in the State at reasonable cost, and the rehabilitation period is short. The ayurvedic centres and spas in Kerala offer treatments based on natural therapies, offering nourishment to mind, body and soul. Its resorts treat ailments like paralysis, stress, injuries, cataract, arthritis etc. Maldivians also come to Kerala for education and business purposes.

By Bobby John Pulickaparambil

Passive euthanasia: is it desirable? T

It cannot be denied that passive euthanasia, even according to the guidelines issued by the Supreme Court, is not free from the inherent threat of manipulation. In a country which is immersed in rampant corruption and where the credibility of almost every institution is under scanner, is it desirable to permit passive euthanasia? One cannot rule out the possibility that unscrupulous elements who have mastered the art of manipulation may misuse the facility with the help of an unholy nexus of medico-legal persons.

he desirability of euthanasia is once again the subject of talk across the social spectrum of our country thanks to the recent verdict of the Supreme Court in Aruna Shanbag’s case. The landmark judgement of the apex court on the subject has far-reaching consequences. It all begins with a petition filed by Ms Pinky Virani, the writer who published the book Aruna’s Story, approached the Supreme Court praying for direction/permission to remove Aruna’s feeding tubes. According to her, Aruna who has been in a permanent vegetative stage for the last 37 years is entitled to a ‘decent death’. She asked the court to define ‘life with dignity’ as enshrined in Article 21 of our Constitution. The court rejected her prayer for removing Aruna’s feeding tubes. However, it held that passive euthanasia can be permitted in certain cases. In other words the court distinguished passive euthanasia from active euthanasia. Since there is no legislation in this regard the court framed guidelines for the processing of an application for passive euthanasia. Accordingly, an application has to be filed before the high court concerned. Further, the matter will be decided after getting the opinion of a three-member medical committee and ascertaining the wishes of the family and near relatives. Aruna, a native of Haldipur in Karnataka, was a junior nurse at King Edward Memorial (KEM) Hospital in Mumbai. She was very committed to her work and determined to perform her duties in an impeccable manner. Her marriage to a doctor in the same hospital had almost been fixed. She had no idea about what was in store when she reported for duty on November 27, 1973. On that fateful night, Sohanlal Walmiki, a

PASSLINE

ward boy at the hospital, attacked her while she was changing clothes in the hospital basement. He choked her with a dog chain and sodomized her. The brutal attack resulted in a fatal cutoff of oxygen supply to her brain and caused brain stem contusion injury and cervical cord injury and further made her cortically blind. Then, the police came to the picture. A case was registered against the offender for robbery and murder attempt. Interestingly no case was registered for unnatural sexual offence. It appeared that the hospital authorities downplayed the incident in order to avoid social stigma of the victim considering her proposed marriage. The offender was arrested and convicted, and sentenced to seven years in jail for assault and robbery. However; the incident took away all the charm from the life of young Aruna. A medical team comprising expert neurosurgeons tried their best to return her to normality, but failed. She fell to a permanent vegetative stage and has been continuing in that state. Now 62, Aruna is sustaining life with the help of artificial life-supporting equipment such as a feeding pipe directly to the stomach. ‘Euthanasia’ was derived from the Greek words ‘eu’ which means well/good and ‘thanatos’ which means death. Thus the literal meaning of euthanasia is ‘good death’: It is generally refereed to the practice of ending a life in a manner which relieves pain and suffering. Active euthanasia simply means assisting or helping the terminally ill patient to die on the basis of a request by the patient or close relatives. On the other hand passive euthan a s i a means allowing

March 31 - April 30, 2011

the patient to die by withdrawing artificial life-supporting systems. This may involve turning off respirators, halting medications and discontinuing food and water so the patient dies because of starvation, dehydration etc. The question of legalizing euthanasia has been a subject of heated debate for long. The pro-life activists contend that nobody has a right to end the God-given life. On the other hand some human right activists advocate euthanasia raising the ‘dignity in death’ slogan. Some countries have legalized euthanasia despite vehement objections against it. Some others are permitting ‘doctor-assisted suicide’. In 2002, the Netherlands legalized euthanasia subject to strict legal requirements such as: the patient’s suffering is unbearable, and she or he has no hope of recovery; the patient makes a deliberate and voluntary request that she or he has discussed thoroughly with the doctor; the doctor consults a colleague who agrees that these criteria have been met. Belgium followed suit in the same year by legalizing euthanasia. The Belgian law also specifies strict requirements for euthanasia. Switzerland allows doctorassisted suicide. The US State of Oregon passed an enactment in 1994 allowing doctor-assisted suicide. Thus doctors there can prescribe a lethal dose of medication to terminally ill patients Reports from the countries which legalized euthanasia show how far it is prone to misuse and manipulation. A study in Holland where active euthanasia has been legalized has come up with some thought-provoking findings. According to a 1990 report, 1,030 Dutch patients were killed without their consent. Out of the 22,500 deaths due to withdrawal of life support, 63% were denied medical treatment without their consent. These disturbing findings show that the right to die may be converted as an obligation to die. The problem is that the close relative may consider the right to die with dignity as an obligation of the elderly people who are in the fag end of their life. Another issue is that the patient, though willing to live, may be constrained to give consent for euthanasia because of lack of resources for treatment. Therefore, in some countries which legalized To page 23

Mary Queens Mission Hospital

Foremost in allergy care and skin treatment M

ary Queens Mission Hospital provides world– class treatment facilities for allergy and asthma and in the skin and cosmetology fields. With three branches in Kerala at Thiruvalla, Kochi and Pathanamthitta, the hospital is the biggest and most reputed allergy care provider in the State and attracts thousands of patients every week. Mary Queens Mission Hospital was started as the first allergy speciality hospital in Kerala in 1975 by Dr Babu Jesus, one of the pioneers in allergy treatment in South India. “Our goal is to provide you with a comprehensive and thorough evaluation of your disease and give the best treatment options available, and ultimately to improve your quality of life. We use only scientifically validated and internationally recognized diagnostic and treatment methods”, says Dr Bikku Babu, a renowned allergy specialist in Kerla and the eldest son of Dr Babu Jesus, who has been the Chief Medical officer and the Managing Director of the hospital since 2003. Mary Queens Mission Hospital is the pioneer in allergy testing and allergen immunotherapy in South India. Here the specialists use both Indian and imported allergy vaccines. The hospital also supplies allergy vaccines to various practising allergy specialists in and outside Kerala. Mary Queens Mission Hospital is the first centre to introduce IGE RAST allergy testing and sub-lingual immunotherapy (SLIT) in Kerala. Highly qualified allergy

You can have life without allergies

By Dr Bikku Babu

llergies are an abnormally severe reaction or hyper reactivity to a chemical or protein in our environment, which under normal circumstances are harmless. Many allergies are airborne particles, such as dust or pollen, which cause symptoms in areas of contact with air, such as eyes, nose or lungs. Allergic rhinitis causes sneezing, running nose, nasal conjunction, irritation-itching of nose, eyes and ears and redness and watering of the eyes. Allergies can also

lead to asthmatic symptoms (allergic asthma), caused by narrowing of airways (broncho constriction), increased production of mucous in the lungs, coughing and wheezing and breathlessness (dyspnoea). Apart from these ambient allergies, allergic reactions can result from food (food allergy), medications (drug allergy), insect stings etc. Substances that come into contact with the skin such as artificial jewellery, latex, leather and hair dye are also common causes of allergic reactions of skin (contact dermatitis). In short, anyone can become allergic to any substance at any time. The allergy symptoms can vary in severity from a simple skin rash or sneezing to bronchoconstriction (breathing difficulty), oedema, hypotension, coma and even death. There has been an unprecedented increase

in the incidence of allergies in recent years. Risk factors for allergy can be divided into two general categories, namely host factors and environmental factors. Host factors include heredity, sex, race and age. Environmental factors are our changing indoor environment, alterations in exposure to infectious diseases during early childhood, dietary changes and environmental pollution. Treatment: The initial consultation will involve a thorough allergy and personal medical history discussion, followed by a physical examination. Laboratory tests and investigations may be done only if required. They may range from simple blood tests, X-rays and lung function tests to allergy diagnostic tests according to the requirement of the individual patient. Please stop all anti-allergy To page 24

To page 24

'Right to life is right to live with dignity' aunot beex-

to commit suicide an offence) from the statute book. The apex court rightly observed that those who committed an attempt to suicide and failed deserve sympathy, not the punishment.

Article 21 of our Constitution guarantees the right to ‘life’. The apex court through various judgements considerably widened the scope of this right. The court held that the right to life means something more than a mere ‘animal existence’. Thus the right to life is now recognized as a right to live with all human dignity. Will that extend to a decent death? This thorny question came up for judicial consideration many a time. Another interesting point is that a failed attempt to commit suicide is an offence under the Indian Penal code, while a successful attempt is not an offence at all. The Supreme Court in Aruna’s case opined that this anomaly may be addressed and suggested deletion of Section 308 of the IPC (which makes attempt

In the Aruna judgement the Supreme Court has dealt with the question of who is the ‘next friend’ of the patient, competent to decide to withdraw the life-supporting system of a person in a permanent vegetative state. Ms Pinky, who highlighted the issue through her book, contended that Aruna has been denied a life of dignity for 37 years. At least, Aruna needs dignity in death, it was argued. However, the staff of the KEM Hospital vociferously objected to it. According to them, they wanted Aruna to live. Finally the court held that it is the dedicated and committed hospital staff who have looked after Aruna for all the years who are competent to decide whether to withdraw the life-supporting system or not. Thus the court declined Ms Virani’s request for passive euthanasia.

From page 22

euthanasia, it is mandatory for the thorities to ensure that patients did give consent for euthanasia solely cause of lack of funds to meet the penses of treatment.

PASSLINE

The judgement evoked mixed responses. Those who welcomed it said the quality and not the quantity of life is important. Further, dignity in death is to be ensured. Some would say that passive euthanasia is not a concept foreign to India. According to them, our ancient ayurveda textbooks permitted passive euthanasia to a certain extent. Death is a natural process. It should not be accelerated or delayed. But, many others expressed their apprehensions regarding the potential misuse of the facility. The ardent followers of the pro-life principle expressed the unacceptability of any type of euthanasia; passive or active. They contend that euthanasia in any form is against the will of God who alone can give life. It cannot be denied that passive euthanasia, even according to the guidelines issued by the Supreme Court, is not free from the inherent threat of manipulation. In a country which is immersed in rampant corruption and where March 31 - April 30, 2011

the credibility of almost every institution is under scanner, is it desirable to permit passive euthanasia? One cannot rule out the possibility that unscrupulous elements who have mastered the art of manipulation may misuse the facility with the help of an unholy nexus of medico-legal persons. Greedy and impatient heirs may indulge in unhealthy, unethical practices to grab the property of ‘terminally’ ill patients. In this context it is relevant to note that there are no hard and fast rules to term a patient terminally ill. Another area of concern is the ‘organ trade mafia’ who will go to any extent to get a person termed ‘terminally ill’ and then perform passive euthanasia for the potential ‘organ donation’. God only knows how many souls will leave this world much earlier than the natural end because of the manipulation in the guise of passive euthanasia. (The author is a practising advocate in Kochi. His email address is: advbobbyjohn@gmail.com)

Allergen-specific vaccination is safe From page 23

medication three days before the consultation. After your consultation, you will receive the results of your tests, with a comprehensive allergy profile. Current allergy management aims: allergy avoidance: To identify the allergens (causative agent) and then to remove them from the affected person’s environment. Allergy pharmacotherapy: If avoidance measures cannot be implemented, the patient may need to use allergy medication to prevent and relieve the symptoms.

Allergen-specific immunotherapy (allergy vaccination) allergen immunotherapy (allergy vaccine therapy) involves administration of gradually increasing quantities of specific allergens to an allergic patient until a dose is reached that is effective in reducing the symptoms and disease severity in the patient. Allergen-specific immunotherapy (allergy vaccination): 1) Allergen immunotherapy is the only treatment strategy which treats the underlying cause of the allergic disorder; 2) It is a highly cost-effective treatment which reduces the need for allergy medication, suppresses the severity of symptoms or even eliminate the hypersensitivity altogether; 3) It improves the quality of life, produces long-term remission of allergic symptoms and allergen-related asthma, and has no longterm side effects; 4) allergen immunotherapy is the only treatment option that is known to modify the allergic disease process with a possible chance of curing the disease, whereas other therapies merely suppress the symptoms, and is approved by WHO and US-FDA In 1998 WHO proposed the term ‘allergen vaccine’ to replace the older term ‘allergen extract’ because allergen immunotherapy is an immune modifier just as other vaccines. Allergen-specific vaccination is safe and has been proved to be extremely effective in the treatment of various allergic conditions. Conditions where immunotherapy is useful: 1) allergic rhinitis, allergic conjunctivitis; 2) allergic asthma; 3) venom hypersensitivity; 4) uncommon indications—atopic deratitis, chronic urticaria, recurrent allergic sinusitis and migraine; 5) symptoms inadequately controlled by allergen avoidance measure or medications. 6) patient wishing to avoid the long-term use or potential adverse effects of medication.

Allergen-immunotherapy or allergy vaccination (ASIT): This is used to induce tolerance to the allergies, and reduce the intensity of the allergy and thereby minimize the use of medicines (WHO (World Health Organization) and US-FDAapproved). Allergen immunotherapy is the closest thing to a ‘cure’ for allergy. Allergy testing: Not all patients attending Mary Queens Allergy and Asthma Clinic are candidates for allergy testing or allergy vaccine injections. Allergy testing is done according to the needs of the individual patient, to identify the causative allergies if any, and to choose the correct treatment plan that may include allergen avoidance, medications or allergy-specific vaccines (immunotherapy).

Personalized care, service From page 23

specialists, dermatologists and cosmetologists trained in India and the US provide world-class treatment here. Skin Clinic: The most advanced and personalized treatment care and plans are available here for all skin diseases. The clinic has in-patient facilities with elegantly furnished rooms, well-trained staff and decades of experience in patient care. Skin diagnostic facilities include dermascopy, skin biopsy, 24-hour computerized lab, skin-patch testing, woods lamp, skin analysis etc. Cosmetology, Skin Care and Laser Clinic: This is central Kerala’s first and only-one-of-its-kind cosmetology and laser centre, started in 2004. It provides a standard of excellence in improving and maintaining the beauty and health of your skin. It gives you the highest quality of care and service with excellent cosmetic results at affordable cost. The facilities and treatments include lasers, body contouring and liposuction surgeries, chemical peels, micro-dermabrasion, radio frequency cautery, botox, cosmetic fillers, cryosurgery, mole excision surgery, skin grafting, repigmentation tattooing, pigmentation and marks removal, skin rejuvenation and glow treatment, scar revision, non-surgical facelifts etc. Allergy Treatment: Mary Queens Mission Hospital offers personalized and comprehensive care and service to diagnose and treat allergies. Only scientifically validated diagnostic tests and the most effective internationally recognized allergy treatments are used in the hospital. Current allergy management aims at allergy avoidance, allergy pharmacotherapy, allergen-immunotherapy or allergy vaccination (ASIT).

Diagnostic tests: skin prick test: This is one of the oldest allergy tests and is still on of the most highly sensitive allergy tests available. It is used for testing various allergies including inhalant allergens like dust, pollens, dust mite, animal danders and also for food allergens, drug and venom allergies. Intra-dermal test: A small amount of allergen is injected into the skin and is observed for a positive reaction. This is more sensitive than the skin-prick test.

Dr Bikku Babu has postgraduate degrees in two different fields of medicine. He is a Diplomate in Allergy and Asthma (DAA) from the renowned Christian Medical College, Vellore, and International Asthma Services, Colorado, US. He is also an MD in Dermatology, Venereology and Leprosy, and is one of the earliest practitioners of cosmetic dermatology, cosmetic dermato surgeries and lasers in Kerla. He takes special interest in asthma and various allergies including naso-bronchial allergies, allergic rhinitis, food allergies, eczemas and utricaria. He has several academic publications and presentations to his credit.

Skin patch test: The allergen solution is placed on a pad that is taped to the skin for 24-72 hours. This test is commonly used to detect allergic contact dermatitis. Serum allergy tests: Serum or blood tests for allergies are not as sensitive as the skin tests, but are used for people who are unable or unwilling to undergo skin tests. The common serum allergy tests like radioallergosorbent test (RAST), ELISA and immunoassay capture test (immunoCAP) etc are not regularly done in India owing to the high costs involved. PASSLINE

March 31 - April 30, 2011

Vasudeva Vilasam Access to all ayurveda treatments K

erala can be surely called the Mecca of Ayurveda. Inspired by a 5,000-year-old system of healing, the Kerala ayurveda experience is beneficial as well as refreshing. Known the world over for its time-tested therapies, age-old traditions, medicated massages, steam baths and herbal diets, ayurveda is the favourite healthcare amongst inlanders and foreigners alike.

ing offered here with utmost attention. Specialized treat- somnia, skin diseases, nervous breakdown, hypertenments for rheumatism, arthritis, spondylosis, paralysis, in- sion, diabetes and sport injuries are also offered.

Vasudeva Vilasam Aryavaidya sala and Nursing Home is a pioneer now in such ayurvedic healthcare. Vasudeva Vilasam Aryavaidya sala was established in 1884 by Vaidyarathnam N Vasudevan Unni, former Palace Physician to Sree Moolam Thirunal Maharaja of Travancore and Superintendent of Ayurveda Padasala. Vasudeva Vilasam Nursing Home is internationally recognized as the shining symbol of traditional excellence in ayurvedic healthcare, with multispecialities, excellent doctors, specialized treatments and pure medicines Mr N Subramonian Unni, son of Vaidya Vasudevan Unniâ&#x20AC;&#x2122;s brother, obtained ayurvedic wisdom and speciality training from the founder and has led the vaidyasala into a prestigious ayurvedic organization in Kerala. A team of renowned doctors and professionals is pursuing this mission to make available the benefits of ayurveda to the masses through Vasudeva Vilasam Vaidyasala. The manufacturing division of Vasudeva Ayurvedic Groupâ&#x20AC;&#x201D;Vasuveda Herbal Concentrates, a GMP-certified firm, prepares all medicines in the traditional way under expert supervision and scientific management. The other major institutions of the group include International Institute of Ayurveda, Vasuveda Vilasam Herbal Remedies Pvt Ltd., Vasudeva Vilasam Publications, Aayushi Wellness Centre and Ayur Village. It has consultancy services to start new ayurvedic wellness spas. Vasudeva Vilasam Nursing Home, a speciality ayurveda hospital, is located in Thiruvananthapuram near the famous Sree Padmanabha Swami Temple. This unique hospital is a part of the Vasudeva Group and it offers an amazing array of holistic treatments and rejuvenation therapies. Treatments like Pizhichil, Njavarakkizhi, Dhara, Sirovasti, Abhayangam, Nasyam, Snehapanam, Kizhi, Karnapoornam and Tharpanam, rejuvenation therapies, body purification, body immunization, Udvartanam, medicated steam bath, general massage, slimming programme and beauty care programme are bePASSLINE

March 31 - April 30, 2011

The mall way to health K

ochi saw the arrival of a mall at Marine Drive a few years ago, and the mall culture started spreading to other areas in the city like Edapally, Vyttila and Maradu. Now the Rs 500-crore

“Health malls are found in the US, Europe, Malaysia and Singapore. The mall in Kochi is the first such in India. Better healthcare facilities under one roof are becoming more and

after their job. Everyone can have instant check-ups in one clinic and another and can reach a final conclusion about their disease”, says Ms Rekha.

hope to achieve this in the next five years”, says Ms Rekha.

The BCG Group was founded by Babu C George in 1980 and forayed into the real BCG is planning to set up a estate business in 2003. The company has developed more than 8.5 million square feet of commercial and residential projects across Kerala. Recently it has also diversified into the education and healthcare sectors. BCG Education Services has already launched two schools in the State under the brand name of ‘Guardian Public School’ in association with Manipal K12 Services. The schools coming up in Palakkad and Kochi Ms Rekha and Ms Renu briefing the Press on the launching of the BCG real estate group's from the academic health mall at Palarivattam year 2011-12 onwards will have world-class BCG real estate group is more popular as people want to total of six health malls in the State, infrastructure and the best of launching a health mall at avoid running from place to an- two more in Kochi and one each academic standards. Three Palarivattam, another commer- other for medical advice, diag- in Kottayam, Thrissur, Kozhikode more such schools will be escial hub of the city. Stated to be noses and for clinical tests. and Thiruvanantha puram. “We tablished in the next three years. the country’s first Through ‘one roof, many solumultidisciplinary health mall, tions’ we aim to make a differ‘BCG Healthsquare’, the Rs 50- ence to providing healthcare crore project, is expected to be solutions. It will be a new expecommissioned by August this rience for many patients to be year. Spread over 1,10,000 able to consult several specialsquare feet, the 10-storeyed ists on the same day at a locamall will bring all health-related tion”, says Ms Renu C Babu, Managing Director of the group. facilities under one roof—doc“Initially we will provide only contors, hospitals, ayurveda censultation facilities. But our longtres, pharmacies and even interm plan is to set up a 7.5-lakhsurance referral units. “The sq-ft health village with a superbasement and the third floor will speciality hospital, along with be earmarked for packing, and residential solutions for indiground and first floors will acviduals requiring prolonged commodate health-related retail medical attention and stores, including pharmacy, ophealthcare. The estimated cost tical ware, skin care products, of the health village will be cosmetics, ayurvedic and herbal around Rs 400 crore”, Ms Renu products, organic and health says. foods and health and medical “We are providing not only equipment. The first floor will the infrastructure but also the also have space for a fairly large support and back-up for all clincafé. The second floor is meant ics and other healthcare units. for allied services where mediThe consultation fee will be decal colleges, hospitals, cided by the doctors concerned. ayurvedic centres and insurIn the coming years there will be ance companies can set up their much demand for such health referral units. The fourth and fifth floors will have wellness clinics malls because the new generaand rejuvenation centres. The tion is very conscious about mall will have 44 investigation health. So the healthcare conrooms on the sixth and seventh cept itself will change. Here is a floors and over 30 private clin- comfortable atmosphere for paics on the eighth, ninth and 10th tients. Nobody will have to wait floors. These spaces can ac- here for consultation because commodate doctors who can the patient will be informed of set up their own independent the appointment time well before it. Nowadays most hospipractice with the option of utiliztals cannot provide outpatient ing centralized services like paservice at night. But here we will tient management desk, secreprovide it. Because of this, anytarial assistance, call monitorbody, especially working people, ing etc,” says Ms Rekha C Babu, can come here for consultation CEO of the BCG Group. March 31 - April 30, 2011 PASSLINE

Through ‘one roof, many solutions’ we aim to make a difference to providing healthcare solutions. It will be a new experience for many patients to be able to consult several specialists on the same day at a location”,

SCMS Bangalore Centre operational Passline News Service

rathap Foundation for Education and Training which started the School of Communication and Management Studies, popularly known today as SCMS Cochin, at Kalamssery in Kochi in 1976 is expanding its reach and is all set to open its new centre in Bangalore—SCMS COCHIN Bangalore Centre. “We have taken possession of five acres of land in Whitefield, a suburb of Bangalore. The institute will be operational this academic year,” says the founder Chairman of SCMS, Dr G P C Nayar.

Management) B-schools claim that their PGDM is equivalent to MBA (Master of Business Administration). This claim is illegal as long as they do not have an order from the Association of Indian Universities (AIU) to that effect. We are the only autonomous B-school in Kerala which has got MBA-equivalent recognition from the AIU for our PGDM programme. We are, again, the first Bschool to get ISO certification for quality management and teaching system. Also, we are the lone recipient of a grant from the AICTE for our excellent track record in performance,’’ says Dr Nayar. “Ethics is taught as a full course at SCMS. The main aim of the foundation is to serve society in the best way possible,” he says.

Dr Nayar says SCMSCOCHIN has grown to be one of the very few B-schools in the country with all the credentials and accreditation that most “In Karukutty we have 32 others look forward to with awe. Besides the B-school, the foun- Dr G P C Nayar acres of land for our engineering college and work on a 10dation has established numerous other institutes of global standards, storeyed building is going on. We would particularly in the fields of engineering, like to add more classrooms and also technology, mass communication and have a plan to start a new engineering biotechnology. “SCMS is the only accred- college there,” says Dr Nayar. ited B-school in the State. According to An important feature that makes the All India Council for Technical Educa- SCMS unique as a business school is tion (AICTE), accreditation is the final test its tie-up with great foreign institutions of like La Trobe University, Deakin Univerquality for a business school. Most of the PGDM (Postgraduate Diploma in

sity, the University of Canberra, University of Applied Sciences-North-Western

Switzerland, North Carolina Central University and the University of Colorado. “Professors from foreign and other universities visit SCMS every year and take classes as part of this tie-up arrangement. In view of climate change gaining importance, environmental variations and disaster management needs, SCMS has also established a chair on climate change with Professor Cleo Pascal of Chatham House, UK, as consultant professor and Dr C K Rajan as professor,’ ’ says Dr Nayar. According to him, SCMS is the only institute which had achieved 90% placement even during the recessionary period. It also focuses on development of the analytical ability of individuals so that they take intelligent business decisions. “The fact that modern parents take all the

decisions for their children makes them poor decision-makers in later life. All these programmes aimed at personality development are conducted by special experts who come from different parts of the country. SCMS has an annual budget of Rs 1.5 crore for this purpose,’’ says Dr Nayar, and adds, “To further extend its social responsibility, SCMS has established a charity foundation, the ‘G P C Nayar Foundation’, with an initial corpus of Rs 1.5 crore for offering scholarships to financially poor students who join institutions under the SCMS Group”. “The main aim of this foundation is to serve society in the best way possible,” says Dr Nayar to whom goes the credit for SCMS having become one of the most-sought-after B-schools in the country today.

Padmashree—a synonym for quality education

he Padmashree Charitable Trust was formed in 1994 by a few professionals in different fields to provide quality education. The first Institution to be started by the Trust was Padmashree Institute of Physiotherapy in 1996. It was the first physiotherapy institute to be started in Bangalore offering bachelor’s degree in physiotherapy. Today the Padmashree Group has several colleges under its umbrella. The salient features of these are high quality teaching, multidisciplinary programmes, superb facilities for studying, excellent career opportunities and perfect places to live and study.

tional complex the institutions have tieups with reputed hospitals to impart clinical training to paramedical students and close links with biotech companies/ research institutes for providing training to the biotech students. There is also a special course to teach the students English and train those students who plan to take their IELTS/TOEFEL and other exams.

Today, the Padmashree Ggroup has made tremendous progress under the able

The library of the institute has the unique distinction of having over 12,000 volumes comprising various medical and general books of foreign and Indian authors, reference books, journals etc.

Padmashree also offers merit scholarships to all students who excel in university examinations and secure distinctions, and organizes several conferences, seminars, workshops and national conDr Ashwanth Narayan C N ferences.

Situated at Nagarbhavi in Bangalore, the Institute of Physiotherapy has an overall academic atmosphere as it is in close proximity to Bangalore University campus at Jnanabharathi, the National Law School of India University and Ambedkar Institute of Technology. The courses are affiliated to Rajiv Gandhi Institute of Health Sciences, Bangalore, and Bangalore University.

Courses from health to life science are offered. Some of these are BPT, BCA, BSc Nursing, PC BSc-Nursing, BSc MLT, BSc Genetics, BSc Biochemistry, BSc Biotechnology, BBM, BHA, MPT, MSc Nursing, MSc MLT, MHA, MSc Biochemistry, MSc Organic Chemistry, MSc Microbiology, MSc Biotechnology, General Nursing and BEd. Apart from the state-of-the-art educa-

Other facilities include internet, hostel with co-curricular activities, multidisciplinary programmes and sports and cultural activities. According to the CII report in 2003, Bangalore ranks first amongst the other Indian cities offering professional education. You can have the best of professional education here and also savour the lifestyle of one of the fastest-growing cities of India, the Garden City, Bangalore. Bangalore is a cosmopolitan city with a population of around 4 million and is dubbed as the Silicon Valley of India and is fast emerging as the Biotech Capital of India. PASSLINE

March 31 - April 30, 2011

leadership of its Managing Trustee, Dr Ashwanth Narayan C N.

Senior citizen is 60 years old By Antony Ooden

There are no clear answers to the questions, Who is a ‘senior citizen’? At what age does one become a ‘senior’? Courts, the country’s

ho is a ‘senior citizen’? At what age does one become a ‘senior’? There are no clear answers to these questions, nor is there any reasonable definition for the word as courts, the country’s Constitution or governments have not prescribed guidelines or norms to determine the age. Let us go to the dictionary meaning of a ‘senior citizen’. The Concise Oxford Dictionary defines one as `an elderly person, especially an old-age pensioner’. Oxford Advanced Learner’s Dictionary says ‘a senior citizen (termed ‘Senior’ in North American English) (is) an older per-

ing to Kerala Government rules, an employee retires at the age of 55. Recently, the State Government increased the retirement age of employees in Kerala State Warehousing Corporation, Kerala State Beverages Corporation and Kerala Inland Navigation Corporation to 58. As the number of pensioners may surpass the staff in the State service in a couple of years it is likely that the State may enhance the superannuation age in other undertakings too. In the cooperative sector, however, the retirement age is fixed

have not prescribed guidelines or norms to determine the age. Some calculate the age of retirement at 55, and others at 58, 60, 62 or 65. For convenience, let us draw up a formula. Take the total of 55, 58, 60, 62

comes to 60. So let us decide that a ‘senior citizen’ is 60 years old!

son, especially somebody who has retired from work. People often call somebody a ‘senior citizen’ to avoid saying that they are old or using the word ‘old-age pensioner’.’ We can thus find that dictionaries also fail to throw much light on the word. The Union Ministry of Justice and Empowerment defines a senior citizen as someone who is 60, but the Income Tax Department had allowed benefits only to 65-olds till last year. In the 201112 budget, it was fixed at 60. For investments, banks provide 0.5%-1% extra interest on deposits by people who are 60 and above. The IT Department also provides benefits for children paying premiums for their parents (up to Rs 20,000) while the insurance company charges a higher premium after 60 years. There are different norms followed for fixing the age of superannuation in public services and private concerns. AccordPASSLINE

The Railways considers a person of 60 as senior in the case of males and 58 in the case of females according to the 2011-12 Railway Budget presented by Railway Minister Mamata Banerjee and offers concessions applicable to senior citizens at the rate of 40% irrespective of gender. In the State Road Transport Corporation buses and private buses, seats are marked for seniors. According to reports, an employee who retires from State service is considered as a senior in Kerala. In forums, associations or clubs formed by retired people, the minimum age for membership is 60. So 55, 58, 60, 62 and 65 are all ‘pensionable’ ages. All these figures should be taken into consideration while deciding the age of a senior citizen. For convenience, let us draw up a formula. Take the total of 55, 58, 60, 62 and 65. It is 300. While taking their average, we get 60. So a citizen who has completed 60 years of age can justifiably be treated as a senior citizen in any field. As the age for women in service is the same as that of men there is no need for remission in age for them in any category: even when they are clamouring for equal status with males.

Constitution or governments

and 65. It is 300. The average

tion of management. Some firms which take their staff on contract basis allow them to work as long as they can, depending on their performance and result.

at 58 but there is a war of words going on for pension in some areas of that sector also like district cooperative banks. There are also some other State bodies where there is no pension. In Central services, including publicsector undertakings, the retirement age is 60. Supreme Court and High Court judges relinquish office at 65 and 62, respectively. But HC judges plead for parity in age with SC judges for retirement. In the private sector, journalists in service retire either at 58 or at 60 (some papers are reported to have raised it to 65 in keeping with the latest Wage Board recommendations), but 60 is the eligible age for State Government pension in Kerala. For provident fund-linked pension such provisions are not there. In nationalized banks the age of superannuation is 60, but in scheduled/private banks it is either 58 or 60 or beyond. In private firms the retirement age may be at the discreMarch 31 - April 30, 2011

In fact the UPA Government in its previous term had reportedly contemplated a uniform age definition for a senior citizen. As this has not been done, taxpayers in the 60-65 age group find themselves denied the enhanced benefits they are entitled to from the many schemes the Government itself had introduced for them. Whatever extra earnings they get from Government saving schemes go away in paying taxes. The age discrepancy has, however, been justified in the 2011-12 finance budget. The Union budget proposed no major changes in the structure of income tax payable in general except for senior citizens especially for octogenarians. The basic amount of Rs 1,60,000 was lifted to Rs 1,80,000 which is non-taxable for males, and it is Rs 1,90,000 for females. If he/she is a senior citizen the non-taxable amount is Rs 2,50,000 as the finance budget considers those aged 60 years as senior citizens. The process of issuing the unique identification number (UID) for every Indian citizen has started. So many feel that it is high time the Central Government clearly defined who is a ‘senior citizen’ and what their age, rights and privileges are.

By Shinin Sunny

Disaster-hit Japan taking stock A

Japan is the fourthlargest consumer of rubber in the world because of the large demand from the automobile industry. The automobile industry in India also will have an impact in the area of technology and components. India being the world’s largest producer of rubber, the companies may see some slowdown. But Indian power companies may have to pay more for thermal coal in the near future if Japan has to shut its nuclear power plants and increase the thermal power generation.

fter the catastrophic earthquake and tsunami ravaged north-eastern Japan, the country is taking stock of the situation. With most of the countries in the world closely connected because of globalization, the worsening state of affairs of Japan’s nuclear power crisis has sent all capital markets into a tailspin. Global markets were jittery from the ensuing aftershocks. Labelled as ‘Japan’s darkest time’ since World War II, the devastation has caused a slump in shares, commodities and currencies. Domestic markets, too, witnessed volatile sessions. Japan’s disaster may have a significant impact on grain prices. Japan is one of the world’s biggest food importers. According to the US Department of Agriculture, the country relies on bought-in products for 60% by calories of what its citizens eat. Corn, wheat and soybean futures rose on speculation that Japan would step up grain purchases once ports and milling operations reopened. Oil fell 3.7% to $97.41 a barrel, its lowest price in almost three weeks, as concern that damage from Japan’s earthquake might limit crude demand. Japan is the third largest consumer of crude and consumed 4.42 million barrels of oil a day in 2010. Nature’s fury has led to a closure of its refineries and has affected about 1.3 million barrels of capacity, almost

29% of the country’s total of 4.516 million barrels. In near term the demand may remain low till the nuclear power plants start functioning normally once again. Japan’s manufacturing is electricity-intensive, and gets about 30% of its power from nuclear plants. About a fifth of the nation’s nuclear plants are offline on account of the quake. According to the International Energy Agency, oil demand in Japan may climb by about 2,00,000 barrels a day if the country makes up the shortfall in nuclear power with crude-fired generation. Japan may have to go in for more oil imports. Hence the drop in oil price is short-lived and the price is sure to rise going forward. Natural gas futures already rallied more than 2% after a nuclear reactor reported blasts in Japan which will boost natural gas demand for the nation’s energy. Japan is the world’s secondlargest steel producer after China. It produced 8% (110 tonnes) of the global crude steel output last year. Lower demand due to the tragedy has led to a decline in prices. Iron ore prices also dropped to a three-month low after the quake. With Japan’s steel industry facing shutdowns, demand for iron ore and coking coal has slowed down. Japan is the fourth-largest consumer of rubber in the

PASSLINE

world because of the large demand from the automobile industry. The automobile industry in India also will have an impact in the area of technology and components. India being the world’s largest producer of rubber, the companies may see some slowdown. But Indian power companies may have to pay more for thermal coal in the near future if Japan has to shut its nuclear power plants and increase the thermal power generation. India imports 100 million tonnes of thermal coal to meet its energy demand. In global markets, gold fell 1.3% to $1,408.07 an ounce, while silver by 3.6% to $34.62 an ounce. The rising uncertainty about Japan has sparked sharp declines in gold alongside most other asset classes, as investors scramble to lock in existing gains. All the aftereffects of the Japan tremor will have a negative effect in the insurance industry of India. The ULIP’s was reactive to it. This financial tsunami gave surprises to most of the fund managers. Further the general insurance sector also may have a negative impact with the reinsurance cost getting high. It is currently still too early to discuss the implications of the Japanese catastrophe on the Indian or global reinsurance market. Another side is that In-

March 31 - April 30, 2011

dia being a safer land, re-insurance companies would enter into contracts with Indian companies to compensate for their losses. Munich Rea Reinsurance Company in the first quarter of 2011 had already been marked by high losses from the earthquake in New Zealand, floods in Brisbane and cyclone Yasi in Australia. Now including the projected losses from the earthquake and tsunami in Japan, the major loss burden from natural catastrophes amounts to over $2.5 billion (Rs 15,980 crore), far exceeding the volume to be expected for this period. The profit target expected by them for 2011 was $2.4 billion which will not be achievable. Similarly Indian general insurance companies like IFFCO Tokio and Universal Sombo have Japanese partners. However, rehabilitation and rebuilding activities gathering momentum in the world’s thirdlargest economy and the Bank of Japan’s confirmation of economic stability have helped the investor sentiments to get stabilized. Bank of Japan pumped in 3.5 trillion yen ($43 billion), taking the total amount of stimulus injected into the system in three days to a staggering 26.5 trillion yen (about $324 billion). Let Japan’s reconstruction become a model for the rest of the world. (The author’s email address is: shinin@aimsinsurance.in)

The current crisis in Japan will have a limited impact on India’s economy and equity markets as the country’s exports are highly diversified across regions. India’s exports to Japan account for little less than 2% of total exports and the share of Japan in India’s cumulative FDI inflow has been a mere 4% between April 2000 and December 2010.

Loss is manageable Passline News Service

nearly 1,40,000 units. New vehicle launching will also be hit.

fruits, vegetables and milk in view of possible atomic effects on these essentials.

apan is an archipelago in the Pacific. Separated from the east coast of Asia by the Sea of Japan, its four main islands are Honshu, Hokkaido, Kyushu and Shikoku. The Ryukyu chain to the southwest was US-occupied from 1945 to 1972 when it reverted to Japanese control, and the Kurils to the northeast are Russian-occupied.

Honda Motor has ceased production till April first week. Existing production dipped to one-fourth of the current output.

Tokyo stocks plunged 6.18% with the key Nikkei index tumbling below 10,000 to 9,620.49 as top Japanese firms suspended operations. The central bank pumped a record amount of cash in a bid to soothe the money markets.

It has a land area of 377,835 sq km and a population (2010) of 12,68,04,433. Tokyo is the capital. Other large cities are Yokohama, Osaka, Nagoya, Sapporo, Kobe, Kyoto, Fukuoka, Kawasaki and Hiroshima, Quakes are not new to Japan and it is an earthquake-prone country.

The drop-off in visitors may deliver a heavy blow to the country’s tourism industry.

The impact of the recent natural calamities in Japan has already started showing in various products and services. Japan is the largest supplier of iodine to the world next to Chile. In fact, these two countries account for most of the global supply of iodine. Therefore with one supplier (Japan) going through restructuring after the crisis, iodine supply will be badly hit. After iron ore, long-term contract negotiations between Japanese power and Australian mining companies for thermal power used by power plants may also be signed at lower prices, compared with previous deals. Manufacturing and exports in automobile companies have been hit on account of the destruction caused by the quake and tsunami. They have also caused shortage of power supply to giant vehicle manufacturers. Toyoto Motor has shut down nearly 18 factories. Production loss is estimated at

Nissan Motor has resumed production of vehicles. But production loss a day runs to $2.5 crore. Mazda Motor has marginalized production and Zuzuki Motor Company is stopping production of three factories.

Iodine pills J

apan’s nuclear crisis has sparked panic buying of iodine pills, with online bids exceeding $500 for one packet, but health experts hosed down the hysteria and warned the pills are of limited use. Potassium iodide is a salt used to saturate the thyroid gland to block the uptake of radioactive iodine. Each year, about 1.5 million American citizens visit Japan and spend about $5 billion, according to the Department of Commerce. A compounding problem is the escalating exchange rate, which is making trips more expensive to US travellers. In the meantime, atomic radiation has started playing havoc in the life of the common man. Food and drinking water have become scarce. Russia, Australia, Canada, Germany, France, Britain, the Netherlands, China, Malaysia, Singapore and South Korea have stopped imports of food articles from Japan. The US had earlier banned the import of

The Bombay Stock Exchange’s Sensex dipped 272 points on brisk selling, triggered by falls in global bourses amid fears of more leakages from Japan’s nuclear plant damaged by the quake and tsunami. The price of benchmark Brent crude oil dived almost $6 to $107.88 a barrel on growing fears of the earthquake in Japan and subsequent crisis at its nuclear facilities which hit the economy badly. The current crisis in Japan will have a limited impact on India’s economy and equity markets as the country’s exports are highly diversified across regions. India’s exports to Japan account for little less than 2% of total exports and the share of Japan in India’s cumulative FDI inflow has been a mere 4% between April 2000 and December 2010. Japanese companies have JVs with four Indian steel companies. Considering the intensity of the earthquakes in Japan, we expect Japan to increase its direct investment—especially in the steel sector in India going forward. About one-third of Japan’s gross national product is coming from the companies located outside Japan. The economic loss in Japan, estimated to be around $200 billion, is manageable as compared to its gross domestic product which stands at $5,069 billion.

WANTED

PASSLINE,

Kerala’s only business magazine in English, with a 16-year track record, needs professionals for the following posts:

Reporters Assistant Advertisement Managers (Thiruvananthapuram, Kochi, Kozhikode) Marketing Executives (all districts) Keethara Publications Pvt Ltd, 38/125 Ist Floor, Narakathara Road, Kochi-35. Ph: 0484 4027002 Email: passline.com@gmail.com; mail@passlinebusinessmagazine.in PASSLINE

March 31 - April 30, 2011

Rathan Kelkar new GKSF Director Mr Rathan Kelkar, a 2003-batch officer of the Indian Administrative Service, has taken over as Director of the Grand Kerala Shopping Festival (GKSF). He succeeds Mr K N Satheesh who has been posted as District Collector, Kasargod.

Film actor Dileep inaugurating the facility Mr Shyam Srinivasan and Mr M Balakrishnan are also seen

Dr Kelkar will also hold charge of the Director of Urban Affairs.

Fed Bank launches IMPS F

ederal Bank has launched Interbank Mobile Payment Service (IMPS), a real-time funds transfer facility through mobile phones. The facility, offered in association with National Payment Corporation of India (NPCI), was inaugurated by film actor Dileep in the presence of Mr Shyam Srinivasan, the bank’s MD & CEO, Mr M Balakrishnan, Chief Operating Officer, NPCI, priority banking customers and top bank executives.

M D Mallya IBA Chairman Bank of Baroda Chairman and Managing Director M D Mallya is the new Chairman of the Indian Banks’ Association (IBA). He took charge on April 1.

Presently a majority of interbank mobile fund transfers are occurring through the NEFT mechanism, under which the transactions are processed and settled in batches from 9 am to 7 pm. Hence it is not real time and also had the constraint of working hours. In the present scheme, customers can transfer funds from their accounts instantaneously to any another bank account that comes under the IMPS framework using their mobile. The service is offered 24x7x365, without any restriction on times.

The customer who wants to transfer funds or to receive funds has to register for mobile banking with the bank. Once it is registered, a Mobile Money Identifier (MMID) is generated. MMID is a seven-digit number issued by the bank upon registration. The customer also has an option to register for receiving funds only. The combination of mobile number and MMID will be unique. All that is required is that the remitter should enter the beneficiary’s mobile number and MMID along with the amount to be transferred. Both the remitter and beneficiary will receive SMS confirmation of the transaction. These transactions can be initiated by downloading the mobile banking application of Federal Bank in his mobile or by sending an SMS in a predefined format. Customers can transfer funds up to Rs 50,000 daily by using the mobile banking application. Using SMS, Rs 1,000 is fixed as daily limit and Rs 5,0000 as monthly limit. The service is free of cost.

T T Ashok is CII Southern Region chief Mr T T Ashok, Managing Director, Taylor Rubber Pvt Ltd, Chennai, was elected Chairman of the Confederation of Indian Industry (CII) Southern Region for 201112 at the first meeting of the reconstituted Southern Regional Council held in Bangalore the other day. Mr Ashok was the Deputy Chairman of CII Southern Region for 2010-11. Mr G V Sanjay Reddy, Vice-Chairman, GVK Power & Infrastructure Ltd, Hyderabad, was elected Deputy Chairman. Mr Reddy is currently the Chairman of CII Infrastructure Council. In a statement later Mr Ashok said the theme for CII for 2011-12 is ‘South India 2020: Accelerate Inclusive Growth Sanjay Reddy and Sustainable Development’. The key focus areas of the region this year would be manufacturing, agriculture, MSME development, education and skill development, entrepreneurship and innovation, infrastructure, inclusive development and sustainability, said Mr Ashok.

Office-bearers C P Jain Mr C P Jain has been re-elected National Executive Committee member of the Federation of Indian Chambers of Commerce and Industry. He has also been elected a governing body member of the Indian Council of Arbitration, New Delhi. Mr Jain is a member of the Director Board of the Kerala Chamber of Commerce and Industry and a former Chairman of it.

Savio Mathew Mr Savio Mathew has assumed office as Secretary of the Kerala Chamber of Commerce and Industry.

Dr Philip John Dr Philip John has been appointed National Chairman for Biological Psychiatry Speciality of the Indian Psychiatric Society. PASSLINE

Spices Board Chairman V J Kurian formally inaugurating the corporate office at Palarivattom

BrainStream Advisors in Kochi BrainStream Advisors Pvt Ltd, a multidisciplinary corporate consulting company, has started its operations in Kochi, with. Mr V J Kurian, Chairman, Spices Board, formally inaugurating its corporate office at Palarivattom the other day. Mr M M Monaye, MLA, launched the company’s Website in the presence of an august gathering of businessmen and industrialists. The key management of BrainStream Advisors consists of cost accountants, company secretaries, chartered accountants and law graduates. The firm provides consultancy in business strategies, capital structuring, corporate law compliances, taxation, cost control, legal documentations, IPR matters and ERP implementation in the SME sector. March 31 - April 30, 2011

R Sridharan given SBI Chairmanâ&#x20AC;&#x2122;s charge Mr R Sridharan, Managing Director of the State Bank of India, has been given additional charge of Chairman of the bank. This follows the retirement of Mr O Mr Sridharan will hold additional charge P Bhatt from the Chairmanâ&#x20AC;&#x2122;s position. till the Government notifies a regular Chairman or until further orders, whichever is earlier.

Upendra Kamath new Vijaya Bank CMD M r H S Upendra Kamath has assumed charge as the Chairman and Managing Director of Vijaya Bank. Before taking charge, Mr Kamath was Executive Director in Canara Bank. He has been a professional banker for over 37 years.

Mr M P Singh, Consul (Labour), Indian Council, releasing the Altius Newsletter for the UAE at a function organized by the Sharjah Province of the World Malayalee Council (WMC). Altius, an initiative of the WMC, brings together college students and provides them with the necessary training and ideas to reform Kerala society. Dr Babu Paul, Chief Guest at the function; Mr Soman Baby, WMC Global Chairman; Mr Sam Mathew, WMC Middle East General Secretary; and Mr Nisar Thalangara, General Secretary, Indian Association, Sharjah; are also seen. Altius is planning to conduct a camp for two days for students in the UAE in May 2011.

PASSLINE

March 31 - April 30, 2011

Aromen Engg for boilinghouse machinery & equipment Passline News Service

The first semikestner in Tamil Nadu for South India Sugars Ltd, Mundiampakkam, was done by Aromen in 1986-87.

E O T cranes and structural items and offers cement grinding units, silos and storage tanks, tower equipment and general heavy fabrications. Apart from these, the company also provides after-sales services such as installation training, operational training and onsite support.

romen Engineering Company (P) Limited, Coimbatore, is one of the reputed Aromen has made a benchmark and reliable manufacturers and exporters of setting pollution control equipof boilinghouse machinery and equipment. ment compliant to pollution control Over the years, it has offered its range of It is also a pioneer in offering a wide range norms, thus focusing on a better boilinghouse machinery and equipment for sugar mills of equipment to its clients. Aromen is the green environment. to the following sugar mills besides the above-menfirst in the world to design and commerNarayanan R Menon cialize a complete evaporator station with The cranes designed by Aromen tioned ones: Bannari Amman Sugars Ltd, E I D Parry new equipment to achieve 34%-35% steam on cane are running successfully in many plants with ease of (India) Ltd, Mac Agro Industries Ltd, Rajshree Sugars and Chemicals Ltd, Cauvery Sugars and Chemicals and the first in the world to design and commercialize maintenance and extra safety. steamless sulphur burner—an innovative energy-savAromen provides cusing approach—for Dharani Sugars and Chemicals Ltd, tomized solutions accordUnit 1, Tamil Nadu. ing to clients’ requirements as technicians, engineers, quality controllers, technoromen Engineering Company (P) Limited, an ISO crats, designers, research9001: 2008-certified company, was started in 1984 with a ers and machine operators capital of Rs 5 lakh. The business operations are headed are always ready at their by the owner and Chairman, Mr R K Menon, a mechanical disposal. engineer with 40 years of wide experience in the cement, steel and sugar industries. Mr Menon is a native of Thrissur, presently settled in Workshops and training Palakkad. An alumna of Kerala Varma College, Thrissur (1964-66), he joined on latest technology are the Thyagaraja Institute at Alagappa Nagar (1966-69) before studying sugar imparted. Apart from this, technology in Kanpur (1977-78). He has an MTech from P S G College, Aromen also conducts sevCoimbatore, and has worked in Ghaziabad. eral concentration-enhancR K Menon with family

R K Menon—an engineer with 40 years’ experience A

It is also the first in India to construct and erect the first two falling thin film evaporators for Ponni Sugars & Chemicals Ltd and Aruna Sugars Ltd, Tamil Nadu, and the first to manufacture a totally floating Calendria-type 60-tonne vacuum pan with central and peripheral down take for Kothari Sugars and Chemicals Ltd. It has also supplied and commissioned the first 125-tonne batch pan for Sakthi Sugars Ltd, Bhavani.

ing and team-building programmes which increase the efficiency of the staff.

His wife Nalini Menon and son Sabari Girish R Menon are Directors of the company. Mr Narayanan R Menon is the Managing Director.

It makes use of optimum quality raw materials (SS, MS and CS materials) sourced from important steel plants such as SAIL, Tata and Jindal. Aromen also makes air pollution control equipment,

PASSLINE

March 31 - April 30, 2011

Ltd, Shree Chamundeswari Sugars Ltd, Shree Ambika Sugars Ltd, Thiru Aroolan Sugars Ltd, ADOS, Abu Dhabi, Cameron Services Middle East LLC, Oman, Sun Power Cements Ltd and Tiger Trans International (P) Ltd, Indonesia. - Response Feature

PASSLINE

March 31 - April 30, 2011

KRISHNENDU—HOLISTIC TREATMENT FOR STRESSED-OUT SOULS

ituated in picturesque surroundings at Chingoli village in Alappuzha district, Krishnendu Ayurveda Hospital has many unique, effective and time-tested programmes which combine several rare ayurvedic techniques followed by various combinations of therapies for an average period of f7 to 28 days. The ideal programme is arrived at after an in-depth study of the patients’ physical health and medical history. They will then receive an

individualized module consisting of therapeutic massage, dietary counselling and body detoxification or rejuvenating treatment. Samridhi—holistic health: This is a splendid combination of different ayurveda techniques to cure body ailments and diseases. This concept of

holistic health supports the idea programmes to relieve one of that if a single angam (body orthose old-age pains through the gan) is damaged, the effect Swanthanam treatment methripples on to the whole body and odology. It is an intelligent comnot just that part. Different combination of Abhyangam (therabinations of rejuvenation modpeutic and focus massages), ules relieve the patient from the different types of Dhara, Kizhi stress and strain of mind and etc. body through Abhyangam, Mukthi—detoxification: Dr Mohan Babu Shashtika Pinda Swedam, One’s attempt to being healthy Sneha Dhara and a host of other tech- in today’s world is a dream seldom niques strictly following the achieved with the pollution in the food guidelines of ayurveda we eat, water we drink and food we contexts. sume. Mukthi is designed to help Aishwarya—weight reduction: Looking good and healthy is more a right than a wish of everybody. Different types of therapies with exquisite oils made from rare herbs in the decadesold R&D centre of Krishnendu help one lose all extra fat and bring out one’s charms. Along with removing excessive fat, it makes skin healthy and glowing, improves blood circulation and a lot more. Swanthanam—pain relief therapy for muscles, joints: Through the understanding of the intricacies of the human body from a 5,000-year-old practice that is ayurveda, Krishnendu has unique

PASSLINE

cupational therapy they can be brought back to normal life, and in extreme cases the quality of life can be improved. Panchakarma: This is the essence of ayurvedic treatment. Promising results can be seen even in incurable diseases. Through a series of systematic treatment regimens, the body is purified and normal rhythm of life is regained. Each module is planned to work on the whole body. Emesis, oil enema, medicinal enema and nasal sinus cleansing are the fivefold procedures known as Panchakarma.

one achieve freedom from all toxic and negative elements accumulated in one’s body through administration of internal medicines, herbal bath and Panchakarma, the fivefold cleaning technique. Sampoorna—stroke and accident rehabilitation programme: An ideal treatment module for those ailing from accidents and stroke (paralysis). This programme caters to the entire needs of an ailing body. It involves different types of massages, Dhara, Pizhichil, Shashtika Pinda Swedam and other rejuvenation therapies which improve the blood circulation and tone up the weak muscles. With the help of physical therapy and oc-

March 31 - April 30, 2011

Swedanam—medicated steam bath: Abhyangam, Snehadhara, Shirodhara, Njavara Kizhi etc are the other modules of treatments followed by Krishnendu Ayurveda Hospital. Dr Mohan Babu is the Chief Physician and Managing Director of the hospital.

36 PASSLINE

March 31 - April 30, 2011

RN 65561/94 Reg. No. KL/EKM/116/2009-2011

DLF Bay View —the ultimate in luxury living “U

nlike previous elections, the word ‘development’ has become an inseparable part in the campaign manifestos and election speeches of all candidates this time. This has brought to centre stage the realization that the people overwhelmingly desire development of their respective places or States. India and Indians have now proclaimed development as their chosen mantra. The experience of recent elections has also shown that the one who has consciously provided it has carried the day,” says Lt Gen M G Girish, Executive Vice-President, DLF Kerala. Lt Gen Girish was in a jubilant mood after the launching of his superluxury apartment complex ‘Bay View’ at Marine Drive, Kochi, when PASSLINE met him at his office recently. According to him, Bay View is the last project which is going to happen at Marine Drive. The launching of the project was timed taking into consideration three factors. First and foremost, the economy is picking up after the slump which lasted almost two years. Secondly, internationally and domestically there has been a lot of impetus being given to infrastructure development in recent times. Lastly, the service sector which contributes immensely to the economic spurt is able to spend considerable amounts as it has much disposable income.

The USP of Bay View, says Lt Gen Girish, is ‘privacy personalized in a superluxury residential complex’, and the project is meant for a very select group of upmarket clients. Most of the 300 apartments in the project, 85% to 90%, are waterview apartments, fully air-conditioned.

harvesting, effective waste management system, three-tier access control security system and video surveillance at entrance and parking area are a few of them.

DLF’s ‘Infinity Tower’, the exclusive tower at New Town Heights, Kakkanad, consisting of 150 superluxury apartments, has been The pricing of Bay View project starts from launched recently. This is a specially designed Rs 7,700 a sq ft with an additional charge for Lt Gen M G Girish premium luxury apartment in Kakkanad with the waterfront units. The project has given great imporall modern amenities. It includes Plaza Center, which tance to the environment, safety and security apart from will have two floors of retail boutiques, a high-end rethe cozy living style. Landscaped gardens, rainwater tail destination.

Kochi, the launching pad of all DLF projects in the State and the hub of all economic activities, is vibrant with distinctive projects like the Vallarpadam container terminal, LNG terminal and the Smart City project, which has just been revived. Improved roads, water supply and quality power coupled with a lot of positive sentiments make Kochi an ideal place for investors as well as the searchers of dwellings

Printed and Edited by Varghese Paul for Keethara Publications Pvt Ltd. 6802, Convent Road, Kochi-35 Tel 3043572 Email:passline.com@gmail.com and Printed at Ayodhya Printers Pvt Ltd., Cochin-26 Design & Layout by johnson