C K Menon honoured for promoting religious harmony Passline News Service
D
oha-based Indian expatriate businessman and social worker C K Menon has been honoured by Doha International Center for Inter-Faith Dialogue (DICID) for his outstanding contributions to the promotion of religious harmony in his native state of Kerala. Menon received the award from Dr Ibrahim Saleh al Naimi, Chairman of DICID, at a special ceremony organized by DICID at Millennium Hotel recently. While hailing Menon’s noble work, particularly the building of a mosque for Muslims in Mokeri of Kannur district, the speakers called upon others to take a cue from his actions and undertake similar humanitarian initiatives in their own ways, however small or big they are, and turn this world into a place where members of all faiths could co-exist peacefully. The function was attended by several prominent Qataris and expatriates who have contributed to similar initiatives through their activities. What makes this honour from the DICID unique and relevant is that no Indian or other expatriate in Qatar so far has received a similar honour from any such recognized and respectable organization as this institute.
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COVER STORY
Two years after achieving the first birth through IVF and with the longed-for arrival of Louise Brown, Mr Patrick Steptoe and Professor Robert Edwards achieved another first—a new clinic, Bourn Hall Clinic, that made IVF treatment available to couples with difficulties conceiving. The result has been many children who otherwise would never have been born and the birth of a whole new area of medicine undertaken at the clinic over the last three decades.
By Ziad Siddique
NOBLE PRIZE FOR INVENTING IVF Awarded to Prof Sir Robert G Edwards Co-Founder, Bourn Hall Clinic
scientist Robert Edwards, had begun their pioneering collaboration a decade earlier. They had dedicated their life with a commitment to resolve the problems of infertility. Louise’s birth made headlines all over the world, one English newspaper from Kochi carrying the most important story of the period as an eight-column top-spread with the headline, World’s First (Test) Tube Baby is a Girl, and led to a blaze of attention for infertility treatments.
Birth of Bourn Hall Clinic Prof Sir Robert G Edwards
Dr Patrick Steptoe
Founding fathers of IVF
M
edical history was made when, on July 25, 1978, Louise Joy Brown, the world’s first baby to be conceived via in vitro fertilization (IVF), was born at Oldham and District General Hospital in Manchester, England. The healthy baby girl, born by Caesarian section to parents Lesley and Peter Brown, weighed 5 pounds, 12 ounces. It was a blissful day for thousands of couples suffering from disabilities to conceive. Lesley Brown had suffered years of infertility because of blocked fallopian tubes. In November 1977 she underwent the then experimental IVF procedure. A mature egg was removed from one of her ovaries and combined in a laboratory dish with her husband’s sperm to form an embryo which was then implanted into her uterus a few days later. The IVF doctors, British gynaecologist Patrick Steptoe and
Two years after achieving the first birth through IVF and with the longed-for arrival of Louise Brown, Patrick Steptoe and Prof Robert Edwards achieved another first—a new clinic, Bourn Hall Clinic, that made IVF treatment available to couples with difficulties conceiving. The result has been many children who otherwise would never have been born and the birth of a whole new area of medicine undertaken at the clinic over the last three decades. What drove Steptoe and Edwards was life—both the lives of the patients themselves and the possibility of making their dream of a family a reality. Bourn Hall was conceived as a calm, supportive environment where patients receive the best possible treatment and care. “We have a wealth of knowledge and unrivalled experience. We carry out more than 1,500 treatment cycles a year and continue to improve our success rates and range of treatments PASSLINE
through our research. More importantly, we use our skills to gain a genuine understanding of your individual situation and share our knowledge with you in a meaningful way”, says Dr Pravin Kini, CEO, Bourn Hall Clinic, India.
Establishing medical practice
to extract eggs from infertile women. If the eggs were retrieved at the right time and then fertilized in the laboratory (in vitro), they could then be implanted into the uterus and a pregnancy could result. As Steptoe and Edwards wrote in an account of their collaborative effort, A Matter of Life, they received a devastating blow in April 1971 when the Medical Research Council rejected
After completing his medical studies, Steptoe established a practice in Manchester, England, specializing in obstetrics and gynaecology. In 1951, he began working at the Oldham General and District Hospital in Oldham, a mill town a few kilometers northeast of Manchester. There he studied methods of sterilization and the problems of infertility. Steptoe perfected the technique for retrieving eggs from a woman’s ovary using a laparoscope. A small incision was made, and this narrow tube, with a built-in optical fibre light, was inserted into the abdominal cavity. The laparoscope was used for sterilization procedures as well as for diagnostic reasons. It was considered to be a pioneering device at the time, and more than a few colleagues questioned his use of it.
Dr Pravin Kini CEO, Bourn Hall Clinic, India
Collaboration with Robert Edwards
their application for funds. They were repeatedly denied funds for their research until the Ford Foundation and some wealthy Americans provided the money.
In 1966, Steptoe joined forces with Robert Edwards, a Cambridge University physiologist. Edwards had developed a technique for fertilizing human eggs in the laboratory, in an effort to help women with defective fallopian tubes to become pregnant. Steptoe realized that he could use a laparoscope
In 1972, Steptoe and Edwards attempted the first implantation, but the inserted embryo failed to lodge properly in the uterus. More failures followed in the next few years. Some pregnancies did occur, but all were lost in the first trimester. Time was becoming a critical factor, as Steptoe was
March 31-April 30, 2012
4 is unique—an exceptional journey guided by a depth of experience and caring expertise that the needy can get nowhere else. Bourn Hall Clinic endeavours to give all of its patients the highest quality of treatment in a supportive and caring environment. “We have striven to create a supportive sanctuary for people with difficulties conceiving. It’s evident when you arrive, during treatment, consultation or working for us. We put support first. A family environment is the best starting point for helping people to have a family of their
Bourn Hall Kochi centre scheduled to retire in July 1978. However, their luck was about to change.
Bourn Hall in Kochi Today IVF is considered a mainstream medical treatment for infertility. Hundreds of thousands of children around the world have been conceived through the procedure, in some cases with donor eggs and sperm. The debate faded when it became apparent that IVF was a desperately sought service. Steptoe received thousands of letters after the birth of Louise Brown. People who were unable to conceive now had reason to hope that their problems could be solved with the help of this new procedure. Steptoe gave numerous presentations and interviews around the world after the IVF success. He spoke at a meeting of the Royal College of Obstetricians and Gynaecologists in London and at a conference of the American Fertility Society in San Francisco, California. Steptoe and Edwards achieved further acclaim when a second test-tube baby, Alastair Montgomery, was born in Glasgow, Scotland, in January 1979.
and are on work with this unique system in their respective countries. But the pioneer and the sole claimant of IVF, Bourn Hall, had never attempted an extension until April 2011 when it established in Kochi its first centre outside the UK. “The clinic in Kochi is the first of its kind outside the UK. Kochi has been chosen because Kerala outnumbers the rest of the country in problems related to infertility and the money spent on it. So we see good potential for IVF treatment in Kerala,” says Mr Abhishek Jain, Head-Sales and Marketing. The management of Asia operations of Bourn Hall has also planned to open centres in different states of India, besides Dubai and Singapore, in a stipulated timeframe. “Work on opening new units is under way,” says Dr Vino Varghese, who heads the Kochi operations.
own,” says Dr Kini. All patients are guided through the completion of the appropriate consent forms to avoid any ambiguity regarding the treatment they are to be offered. All its consent forms are either issued or approved by the Human Fertilization and Embryology Authority (HFEA). “While our duty of patient confidentiality means that it is not possible for us to comment on individual cases, we give assurance to our patients that Bourn Hall Clinic—in common with all clinics regulated by HFEA—adheres to a strict code of conduct concerning patient care and consent,” says Dr Vino Varghese.
How different is Bourn Hall?
Bourn Hall is strongly bound with ethics even though the service is paid. It would not suggest youngsters and Since Bourn Hall is the only clinic those who are potential of fertility for which can claim developing a unique undergoing IVF treatment. “Our focus method of tackling the infertility prob- is always on providing the best poslems, obliviously it will provide sible chance of becoming a parent for all of our patients. As the world’s first Doctors around the world have ac- standalone services to aspirants. IVF clinic we have always been at the Everyone’s experience at Bourn Hall quired knowledge of IVF from Bourn Hall forefront of research, innovation and patient care. We continually strive to improve and build up on our excellent reputation. continue our commitment Kerala has become a hub of infertility treatment and reproductive tourism is on the We to advancing this field of rerise with affordable treatment options and other conveniences, according to Dr Peter search, through involvement in Robert Brinsden, Group Director of Bourn Hall Clinic. He told reporters in Kochi reevaluation of new drugs and cently that the situation in Kerala was ideal for infertility treatment and therefore the clinical techniques. We always state was becoming a hub for couples dreaming for a child. welcome feedback from paPointing out that cases of infertility were increasing alarmingly in Kerala, Dr Brinsden tients and staff in our efforts to said one of the main reasons for the declining birth rate in the achieve better care and better state was the male work pattern that kept them away from outcomes for our patients”, family for long periods. “The demographics of Kerala show adds Dr Kini. that now women are opting for late marriages. Also, the alcohol consumption in Kerala is the highest in India and it is considered to be one of the main reasons for infertility among Lab and facilities males,” he said. About treatment, Mr Brinsden said in vitro Bourn Hall Clinic has obfertilization success rates had been improving over time. tained BS EN ISO 9001:2008
Infertility rising alarmingly in Kerala: Dr Brinsden
Dr Pravin Kini, Bourn Hall International India CEO, said it was planned to expand the clinics across the country. “In the next three years, we expect to start 15 clinics,” he said. He said that Bourn Hall Clinic employed the best minds and methods. According to Dr Kini, Bourn Hall has achieved the highest success rate of delivering healthy babies. “The clinic in Kochi is the only IVF centre in Asia to have a Clean Room IVF Lab that meets UK standards,” he said. PASSLINE
certifications, endorsing its commitment to quality patient care and continuous improvement. Staff regularly monitors its own performance, and benchmarks its achievements against other clinics in the UK. Staff training and competence is at
March 31-April 30, 2012
In 2003 Bourn Hall Clinic achieved the Investors in People Award in recognition of its commitment to staff development and firstclass management practices. Bourn Hall Clinic is inspected by both HFEA and the Care Quality Commission (CQC). The successful outcomes of these inspections give its patients the reassurance of knowing that the care they receive is independently monitored and assured by these regulatory bodies.
the heart of its quality system. The Bourn Hall laboratory (artificial womb) in Kochi, where the process is being done, is highly hygienic and isolated from the main operational block. It is totally immunized and nobody is allowed inside the lab except technicians, that too through a severe hygienic process. Patients are allowed to see the process inside the lab on the monitor fixed outside it. A video CD of the process is also available on demand by patients. The results of compulsory tests in sperms and eggs will be passed to the expert doctors in the UK for consultation. “For the time being, doctors from the UK visit the unit frequently for giving instructions to the doctors in charge of this unit. Besides, they are always available on demand,” says Dr Vino Varghese.
Quality assurance In 2003 Bourn Hall Clinic achieved the Investors in People Award in recognition of its commitment to staff development and first-class management practices. Bourn Hall Clinic is inspected by both HFEA and the Care Quality Commission (CQC). The successful outcomes of these inspections give its patients the reassurance of knowing that the care they receive is independently monitored and assured by these regulatory bodies. -Response Feature
From the Editor Save newspapers from death Whatever has happened to the newspaper industry in Kerala? Is the end near? Three or four years ago the end seemed near, the recession threatening to remove the advertising and readers that had not fled to the internet. At least that was the case in large parts of the world, though it was not very grave an issue in India, particularly Kerala. Today there is little sign of crisis because of lack of advertising and the supremacy of the internet. It is a different kind of threat this time—that too only in Kerala. Newspaper agents have been on ‘strike’ since March 20, meaning that they are refusing delivery to homes. They have been compelled to resort to agitation, they say, because of the poor rate of commission that has remained stagnant for almost 40 years, excessive workload which continues to rise day by day and insecurity of work. Their other grievances are absence of festival allowances, welfare measures and medical benefits. Increasing numbers of copies of dailies and other publications, which they say companies thrust upon them, drive them to losses and more losses. Because they are in the unorganized sector they are being neglected even by the Government by being denied even its own welfare schemes and pension, they complain.
Editor & Publisher
VARGHESE PAUL Kochi
ZIAD SIDDIQUE Ph: 8089490231 Thiruvananthapuram
RADHIKA C PILLAI Ph: 9447712290
Chennai
AUGUSTINE JOSEPH Ph: 09381000534 Bangalore
ROHIL KUMAR Ph: 098440016255 Manager-Marketing
SAJAN K
Keethara Publications Pvt Ltd
Questioning their claims newspaper managements say that no newspaper in Kerala denies them their rightful commission. The minimum that they get is 30%; many give up to 50%. There is also the case of a newspaper which retained the Rs 1.25 commission it used to give on the cover price of Rs 2.50 when it reduced the price to Rs 2, a clean 62.5%! Whether the agents’ agitation is justifiable or not, it is the lakhs of readers for whom the newspaper is part of their life who are facing the music. It is unthinkable that for more than two weeks they have been denied the right to information for no fault of theirs. There may be substance in the argument by agents that they find it almost impossible to get people for delivering the paper as work is at hand for Rs 400 to Rs 600 a day elsewhere. Though it is a two-hour affair in the morning for the delivery boys, agents say they have to be at the spot where the papers arrive early in the morning, sometimes by 4 or 4.30, for sorting out papers etc. Late risers resent the job. Newspaper managements insist that for a newspaper to survive there must be a healthy mix of revenues from readers and advertisers. How can a paper which gives more than 50% commission meet the mounting expenses?, they ask. No one thinks that in India more than 50% of newspapers’ revenues come from advertising. It may be higher for some papers. It has been found that those that get more revenues from readers are more stable. What is the way out? Keralites, particularly, like their newspapers thrown on to their doorsteps. They should think whether this is feasible or possible in the changing situation in a state where availability of people for certain types of work is not easy. One alternative is e-newspapers. Another is distribution through kiosks at important places with vending machines as in advanced countries. Newspaper companies must put their heads together and think of the latter alternative as many, especially the older population, may not prefer the former format.
38/125 1st Floor, Narakathara Road, Kochi-682 035, Kerala, India. Phone : +91 484 4027002 Editorial
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Marketing : +91 484 4010075 484 3043325 Marketing Office: G-238, K C Joseph Road, Panampilly Nagar, Kochi-682 036 Marketing : +91 484 4010075 e-mail
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If something is not done urgently to revive the industry, many, particularly the young, will certainly turn to getting their news online. Advertising too will move online, but may not be to newspapers’ websites. A continued strike may surely finish off newspapers, which have very high fixed costs in the form of journalists and printing presses. Already newspapers which used to print lakhs of copies daily have started feeling the pinch printing only a few thousand copies. Print and online advertising has fallen. Rising newsprint cost, the second biggest expense after staff pay, is rattling the industry. Circulation has dipped alarmingly and newspapers have become thinner. Steep cover prices won’t help because few would buy. Doesn’t the Government have a responsibility to settle the problem? It seems to have taken the stand that the agents’ action is neither a labour issue nor an industrial dispute where it can intervene and bring the parties to the negotiating table. It should however remember that the continuing agitation concerns almost every family in the state and needs urgent solution.
Varghese Paul
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Readers' views What you can do for the state Your editorial on the need for a uniform definition of ‘pensionable age’, especially for bureaucrats in Kerala, is commendable (March issue). If this age is fixed at 60, it will not be a harrowing experience for an employee retiring at 55 to wait for five more years as he/she can get through this period with a strong backup as stated by you. Even otherwise, there should be clauses in the rules to allow pension in indigent cases as mentioned in the editorial. I myself retired from a private firm at 58 and waited for two years as the Government rules allowed only 60-year-olds to be eligible for pension. As the overall amount of pension exceeds the salary of the employees in service it is high time the Government chose a uniform age pattern in all public undertakings just to maintain the economic equilibrium of the state. It’s a time to think about what you can do for the state!
ponents. In this case too, an ecologist and an architect have aired their dissent. One says there is a possibility of the ecological balance being hampered. The other’s argument is that if encroachment on public property is allowed it may raise similar demands from others. Constructive criticism is always welcome. But it should not turn into a blame-game. Instead viable propositions should be put forward so that development and growth take place. In view of the views against the project, Mr Vadhyar can also enlighten his antagonists on how the Sky City will solve the traffic bottleneck in the city. Prince Charles, Dubai
Coin dispenser bugger Coin dispensers have become a random device though some banks have forayed into this free service of distributing coins to the public. This gadget, similar to the ATM (automotive teller machine), has mass appeal and become a public utility service which is faster than a bank cash counter. People love and like machines better than humans as they
serve the needy in time and trust them unless man manipulates the machines’ inner core.An example: a coin dispenser at the Thrissur railway station wasserving the public without giving room for any complaints and losses dispensing with coins for Rs 10 notes. The other day when I inserted a Rs 10 note what I got was only seven one-rupee coins (Rs 3 bugged). The man behind me got eight coins while the aged man manning the gadget thrashed the machine to eject the rest of the cash, but in vain.We may rule out any foul play or connivance between man and machine but can allege lethargy on the part of the man manning the machine in informing the authorities in time. Such incidents erode the trust of the public in the bank installing the gadget, which is a free service. Vinod D Kannur
Muziris project The developmentwork initiated by the state government on the Muziris Heritage Project (March issue) is a welcome step as it encompasses eight panchayats and two municipalities. It will cover places from both Ernakulam and Thrissur districts. This project is expected to bring development in such diverse areas as tourism and education. The main advantage of this project is that it brings growth to places in Ernakulam and Thrissur districts.
N O Antony, Thrissur
Enlighten the antagonists Kochi, the commercial capital of Kerala, is flooded with proposals for various mega projects. The latest among them is the Sky City etching on a 3.75-km-long bridge connecting Kundannoor with Sahodaran Ayyappan Road to be implemented by eminent architect and builder A R S Vadhyar. Any new initiative naturally will have supporters and op-
Varghese Pulickal, Thrissur
Three-month validity
Gold loan 60% Lending against gold is a lucrative business for banks and non-banking financial institutions (NBFCs). Private institutions had been vying with each other to usurp the top slot in the gold loan business. There are some NBFCs which exclusively do this business. Certain NBFCs are even lending 80%-85% of the price of the gold pledged. Recently the banking regulator, Reserve Bank of India, drew a ‘Lakshman rekha’ on gold loan lenders. The limit on gold loan lending was pruned to 60% of the market price of the gold instead of the present limit of 66% (sic), according to the new strictures of the regulator.
It seems the banks too are going the Government way in regard to individual cheques and drafts. The new directive of the Reserve Bank of India (RBI) stipulates the validity of cheques/drafts at only three months instead of the prevailing six months from April 1, 2012. The new stipulation is not a new one for cheques from Central Government institutions. For example, cheques issued by public undertakings like the Life Insurance Corporation of India (LIC) have a validity period of three months only. The manager of a bank wholeheartedly welcomes this move because, he says, a six-month validity period means more chances of malpractices and fake transactions. The three-month validity is ideal.
A customer opts for making the validity period one month. But it is not a practical proposition because a majority of banks focus on NRIs for business. And NRIs prefer a shorter period to meet their requirements through cheque/draft dealings. Hence the three-month period.
Shortage of lottery tickets
The Government is planning to print more Rs 20 lottery tickets, according to media reports. The plan is to increase the present number of 25 lakh to 27.5 lakh. The reason is said to be that agents complain of not getting enough tickets in the category. But tickets in the bigger-denomination categories are available. There are also reports that forged tickets are in circulation.
There are no two opinions about the public sector institutions abiding by the new norms of the central bank. But how far the NBFCs and private institutions will follow the regulator’s stipulation is yet to be ascertained. However, private players say that they have already implemented the directive.
Many wonder whether it is not an artificial shortage created by some to boost the sale of higherdenomination tickets. PASSLINE
March 31-April 30, 2012
UNION BUDGET
7
"I
t is neither bad nor good”, is the general opinion of industry leaders about the Union budget. Finance Minister Pranab Mukherjee once noted that he was losing sleep over the large subsidies. According to him, India’s economic recovery was interrupted this year because of intensification of the debt crisis in the Euro zone, political turmoil in the Middle East, rise in crude oil prices and the earthquake in Japan. The country had been undergoing severe fiscal imbalances because of the tight monetary policy and expanded outlays. Industry had expected a budget aimed at fiscal consolidation. However, the outcome was a balanced one. Quoting a line from Shakespeare’s Hamlet during the budget presentation, the Minister said, “I must be cruel only to be kind’, in order to keep the economy afloat from sinking. On one side the budget has increased the subsidies on foods and agriculture, spoke of introducing the Goods and Services Tax (GST) from August, stringent measures to counter black money and the opening of the doors to foreign investment in infrastructure. On the other, it has proposed taxes on all services except 17 and increased the excise duties.
According to Mr C J George, Vice-Chairman, CII Kerala State Council and Managing Director, Geojit Financial Management Services Pvt Ltd, the budget is realistic and pragmatic except in regard to the service tax increase. “We were all asking for fiscal consolidation. The measures announced will certainly help to bring down headline inflation. The budget is a capital marketfriendly one also. Overall it will directly and indirectly support the equity market”.
Mr Prakash James, President, ICCI Kerala Chapter, says, “Though the common man had more expectations on their wish list on reduction of individual tax rates, the move to increase the income tax exemption limit from Rs 1, 80,000 to Rs 2,00,000 gives some direct tax relief to a large section. The reduction in the interest on housing loans by 1% is a positive one. The budget also aims to initiate steps for policy reforms.” The proposal to introduce GST by August this year is also welcome, he says. “The budget has recognized agriculture as central to our nation’s growth strategy, and measures planned to boost the agricultural sector by restructuring the subsidies and other steps are also appropriate. However, the increase in service tax and excise duty rates by 2% will certainly affect the trading community”, he says.
‘Neither bad nor good’
India remains the front-runner in economic growth in any cross-country comparison. The budget also insists on the need to bring down inflation and to maintain the GDP at the targeted growth. The monetary tightening measures, to ease inflationary pressures, have shrunk investment growth over the last few quarters, which have led to lower GDP growth. Against the forecast of 9% growth for the current fiscal assumed in last year’s budget, there has been deterioration in the macro-economic
Passline News Service
At the same time, because of the tax increase, industries like tourism will have to bear the burden. “There will be a huge impact on the tourism industry since it is a service industry. Imposition of tax on all services will hurt the hospitality, hotel, travelling and all services related to tourism. Thus, the outcome of this budget will ruin the tourism industry,” says Mr Jose Dominic, Immediate Past Chairman of CII Kerala State Council and Managing Director, CGH Earth, a hospitality group.
situation in each quarter of the current fiscal and expectations now are of a 6.9% growth in the current fiscal. In addition to investment growth, final consumption expenditure, both by the Government and the private sector, is down indicating slackening of demand. The GDP has slowed down from 7.7% in the first quarter to 6.1% in the third quarter. According to Mr C J George, ViceChairman, CII
Pranab Mukherjee PASSLINE
Meanwhile, the decision to bring all the services within the purview of tax will impact the economy adversely. According to Mr Vivek Krishna Govind, Partner, Varma & Varma and Past Chairman, ICAI, “the proposal to include all services (except those in the negative list) in the service tax ambit was an expected step and may lead to
Kerala State Council and Managing Director, Geojit Financial Management Services Pvt Ltd, the budget is realistic and pragmatic except in regard to the service tax increase. “We were all asking for fiscal consolidation. The measures announced will certainly help to bring down headline inflation. The budget better compliance, is a capital marthough it may have ket-friendly one an inflationary imalso. Overall it will pact. The directly and indinegative list has 17 rectly support the heads and equity market”. He C J George includes specified adds that the infraservices provided by the Government structure sector will be accelerated by or local authorities, and services in the the relaxation of norms and the openfields of education, renting of residening of the doors to foreign investment. tial dwellings, entertainment Welcoming the budget proposals, March 31-April 30, 2012
8 “We had expected major proposals in the budget for reforms in the equity market. Investment in the newly launched Rajiv Gandhi Equity Saving Scheme will increase flow of money into the equity market and thus increase liquidity. The scheme will allow for income tax reduction of 50% to new retail investors, who put up to Rs 50,000 directly in equity and whose annual income is less than Rs 10 lakh. The scheme will have a lock-in period of three years. As the maximum tax rate applicable on those with an income of up to Rs 10 lakh is 20%, the tax saved will be a maximum of Rs 5,000" Shyam Srinivasan
and amusement, public transportation, agriculture and animal husbandry”. “A number of other services including healthcare and services provided by charities, independent journalists, sportspersons, performing artists in folk and classical arts etc are exempt from service tax. The film industry also gets tax exemption on copyrights relating to recording of cinematographic films. The budget offers relief to different sectors of the economy, especially those under stress. Import of equipment for fertilizer projects is being fully exempted from the basic customs duty of 5% for three years,” he adds. During 2011-12, a series of steps were taken to deepen the capital market and encourage investment in the infrastructure sector. The current budget has proposed the next steps to further deepen the reforms in the capital market. “We had expected major proposals in the budget for reforms in the equity market. Investment in the newly launched Rajiv Gandhi Equity Saving Scheme will increase flow of money into the equity market and thus increase liquidity. The scheme will allow for income tax reduction of 50% to new retail investors, who put up to Rs 50,000 directly in equity and whose annual income is less than Rs 10 lakh. The scheme will have a lock-in period of three years. As the maximum tax rate applicable on those with an income of up to Rs 10 lakh is 20%, the tax saved will be a maximum of Rs 5,000. Earlier, people used to approach investment in the equity market as a
lock-in period from three years to one year. Experts are of the opinion that allowing Qualified Foreign Investors (QFIs) to access the Indian corporate bond market will bring in market par-
P R Aravindakshan Nair
ticularly the equity market. Provision of electronic voting facilities will incentivize people to invest in the market. Federal Bank Managing Director Shyam Srinivasan says that it is a bal-
Jose Dominic
ticipants and liquidity and increase anced, realistic and credible budget. depth in the corporate debt market. “The Finance Minister has made a Also, reduction of securities transac- genuine attempt to rein fiscal deficit by tion tax (STT) to increasing ser0.1% from the vice tax and expresent 0.125% is a cise duty by 2%. great step but to atFor banks, the tract more investors tax exemption of into the market with income earned a long-term investup to Rs 10,000 ment perspective, from savings STT must be abolbank accounts ished. Removal of as interest and the cascading effect interest subvenof the dividend distrition to farmers bution tax (DDT) will who are prompt help in creating value in repayments is for investors thus expected to Prakash James bringing in more inmake a positive vestors in the market as companies impact on retail customers. Besides, will increase dividend pay-outs, says the proposal of the credit guarantee Mr George. fund on education loans and central The proposal to make it mandatory depository for storage of Know Your for companies to issue IPOs of Rs 10 Customer (KYC) will also benefit the crore and above in electronic form bankers”. through a nationwide broker network of stock exchanges will help in increasing the reach of the capital market par-
Joy Alukka
institutions to the tune of Rs 15,888 crore will help the banks to write off certain amounts of non-performing assets (NPAs) from the balance sheets. To bring banking payment structure on a par with global standards, a comprehensive action plan has been prepared for implementation in 2012-13. Allowing kisan credit cards to be used as ATM cards will also benefit the banking sector. About the impact of the budget on the gold market, Mr Joy Alukka, Managing Director, Joyalukkas Jewellery, says the high price may not keep gold lovers of Kerala away. “Though it may dull the market a bit, we can sustain the interest”, he says. But the increase in gold duty can induce smuggling. The Government should take steps to curb such illegal practices, he says. The budget has raised the excise duty from 2% to 4% which eventually is likely to affect the sales of gold. The infrastructure industry is one of the few segments that have tremendously gained from the budget. It has been proposed to double the tax-free bonds for financing infrastructure projects to Rs 60,000 crore from the Rs 30,000 crore announced in 201112. This will provide tremendous impetus to all sectors which broadly come under the infrastructure field. It is also meant to attract foreign investment in the infrastructure industry. “The budget is very good as far as the infrastructure industry is concerned. However, it is not good for the realty sector except for a few benefits. We had been urging the RBI to reduce the CRR, which remain high, to boost the housebuying capacity of people. The budget
The proposal for capitalization of public sector banks (PSBs), regional rural banks (RRBs) and other financial
“The Finance Minister has made a genuine attempt to rein fiscal deficit by increasing service tax and excise duty by 2%. For banks, the tax exemption of income earned up to Rs 10,000 from savings bank accounts as interest Vivek Krishna Govind
gamble. Now it will create more investment opportunities. Besides, the proposed lock-in period of three years under the scheme will bring long-term investment into the equity market,” says Mr P R Aravindakshan Nair, Director, Acumen Capital Market India (P) Ltd. He also expresses the hope that there is a chance to shorten the
and interest subvention to farmers who are prompt in repayments is expected to make a positive impact on retail customers. Besides, the proposal of the credit guarantee fund on education loans and central depository for storage of Know Your Customer (KYC) will also benefit the bankers” PASSLINE
March 31-April 30, 2012
M G Girish
however has increased the service tax and excise duty by 2% which eventually has to be borne by the customer, reducing his buying capacity. However, the interest cut on housing loans below Rs 25 lakh will boost the low-cost housing sector,” says Mr M G Girish, Vice-President of DLF Home Developers Ltd.
AGRICULTURE
9
By Dr N Ajith Kumar
A special scheme provided in this budget is to extend the scheme of Viability Gap Funding to irrigation and dam projects. This scheme had been restricted to infrastructure projects. Farm infrastructure, soil testing and investments in fertilizers have also been made eligible for VGF. This is a positive step in the right direction. In a country where food inflation is so volatile aggressive investments in agriculture have to become a reality. The Government has through the budget permitted the largescale import of farm equipment.
When the reading of the budget was completed the feeling that all got was it was neither populist nor reformist. But it certainly addressed the needs and aspirations of the poor Indian farmer. Pranab requires a real pat on the back for his bold steps to rejuvenate the farm sector.
subsidies to the bank accounts of the farmers has been visualized. For this purpose the UID scheme is being really fortified. The message is clear and loud—subsidies shall be only for the deserving. In a country where nearly 20% of the agricultural produce is lost because of poor warehousing facilities allowing the import of cold chains and equipment for warehousing is a big relief to the farmers. The Government seems to have clearly understood that if agriculture is not prioritized it would lead to a famine which the country has never had since the days of the Green Revolution. The decision to raise agricultural credit to farmers in priority sector lending by 17% from Rs 4.75 lakh crore to Rs 5.75 lakh crore shows how this scheme has greatly benefited the farm sector. The only worry here is whether the farmers are actually using these funds for increasing agricultural productivity and output. A general complaint is these funds get routed to the purchase of real estate in the name of purchasing new land. Banks also complain of the high NPA that gets created out of priority lending. While the decision to raise this allocation is commendable, care should be taken as to how these funds are utilized.
Discussions commenced on the national budget long before it was presented. Two words were heard most often in all circles—populist and reformist. The supporters of the first notion had obvious reasons: the hollow defeat of the Congress in Uttar Pradesh in particular and in the other states in general. The protagonists of the reform club believed that this was the last chance of the Government to think big as well as long term. The mounting public debt, adverse balance of payments, everpersevering inflation, low growth, the sagging industrial sector, widening fiscal deficit and most importantly an overall decline in agriculture and related sectors were the issues the budget had to address itself within a time-bound scale. Most importantly there is definitely a lowering in the confidence of the people about the capacity of the Government to deliver. So Finance Minister Pranab Mukherjee did have an unenviable job at hand. To make matters worse just prior to the presentation of the budget the controversies of the rail budget and the tensions thereof were certainly not well taken by the people in general. Just a recap to outline the mood that prevailed at the time of the budget presentation before going into its pros and cons. It was a mere coincidence that the day of the budget coincided with the nation’s idol Sachin Tendulkar reaching the most remarkable achievement of a century of centuries. While Sachin gladdened all our hearts there is no doubt that the budget gladdened the hearts of millions of farmers of India. When the reading of the budget was completed the feeling that all got was it was neither populist nor reformist. But it certainly addressed the needs and aspirations of the poor Indian farmer. Pranab rePASSLINE
quires a real pat on the back for his bold steps to rejuvenate the farm sector. The high incomes and the increased consumption specially in the urban and semi-urban areas are positives which show that in India what is produced is being consumed. But the crux of the matter that required immediate solution was the growing rate of population and the dwindling growth in the food supply which the genial Finance Minister seems to have clearly realized. One was surprised whether this Government which is often criticized for its pro-rich policies was capable of giving so much consideration for a sector that was sagging. Without using the term ‘green revolution’ the Minister made it very clear about the necessity of a ‘technological breakthrough’ to revitalize agriculture. The Kerala Agricultural University and the Universities of Punjab and Haryana are in the forefront in developing newer and newer varieties of rice and wheat, respectively. It is a conservative estimate that about 600 varieties of high-quality rice and wheat are available in the country which are not being made use of commercially. By allocating Rs 400 crore for technological upgradation, one can definitely expect a spurt in the use of betterquality seeds which is most essential for our food production to improve. There was a clear message that the Government is determined to minimize food imports in the days to come. What is more pragmatic is the approach towards subsidies. While aiming to bring down subsidies to 1.75% of the GDP by 2014, the FM has conceded that the subsidies distribution is something which the Government is determined to change. With that in mind the policy of ‘inclusive growth’ has been clearly spelt out. Direct transfer of fertilizer and kerosene March 31-April 30, 2012
The massive recapitalization of Rs 10,000 crore for NABARD for financing rural financial institutions like regional ural banks will boost the credit available to the farmers. Providing agricultural loans at 4% is a good gesture to promote farm lending. The Finance Minister was elated when he reported that the scheme to initiate the Green Revolution in the eastern states was a great success and the production of foodgrains in this part of India had increased by 7 million tonnes. So he promptly raised the allocation under this scheme from Rs 400 crore to Rs 1,000 crore this fiscal. Five missions with clear-cut objectives were set up to boost agriculture. These missions were to address the needs of the farmers in the 12th Five-year Plan. They are National Food Security Mission, National Mission on Sustainable Agriculture, National Mission on Oilseeds and Oil Palms, National Mission on Agricultural Extension and Technology and National Mission for Protein Supplement. All in all it must be conceded that a good macroeconomic approach has been initiated. The fact that the total Plan outlay for agriculture has been increased by 18% from Rs 17,123 crore in the previous year to Rs 20,208 crore this fiscal speaks volumes about the direction towards agriculture. For once the people who matter have realized that however much one gives to those hands who are responsible for our next meal is not enough. A good beginning has been made and it is now for the Government to execute the decisions. (Dr Ajith Kumar is a freelance writer)
ECONOMY
10 There was a flood of comments about the budget by experts but they seem to have examined it from every angle except the Government’s failure to take timely action to deal with the alarming increase in debt and deficit. Many of the countries are now in the same position as India in financial matters but they are trying to cut spending and increase taxes of the rich. But India has not done this though the budget is overflowing with red ink.
By K P Joseph
I
ndia with its astonishing growth rate in recent years has been the envy of the rest of the world. But times are gradually changing and not for the better. Our growth rate has declined, inflation is on the rise, corruption is increasing and the high oil prices and unaffordable subsidies are matters of serious concern. Obviously, it was a worried Finance Minister who presented the budget for 2012-13 on March 16. Evidently the Finance Minister was concentrating on these major problems and did not have enough time to spare to deal with the increasing debt and deficit which have reached record levels. There was a flood of comments about the budget by experts but they seem to have examined it from every angle except the Government’s failure to take timely action to deal with the alarming increase in debt and deficit. Many of the countries are now in the same position as India in financial matters but they are trying to cut spending and increase taxes of the rich. But India has not done this though the budget is overflowing with red ink. Let us take a look at the main relevant data. The estimated total expenditure in the new budget is Rs 14,91,000 crore. The fiscal deficit is the highest ever—Rs 5,16,000 crore. The Government will have to borrow this huge amount to meet the budgeted expenditure. The share of each one of us will be about Rs 5,000. The interest on public debt will be Rs 3,20,000 crore—about Rs 3,000 per head! The debt stock will be as high as 45.5% of the GDP. How recklessly the Government has been spending public money will be evident from the fact that in as recent a year as 2005-06 the total budget of the Central Government was Rs 5,06,000 crore—less than the fiscal deficit in the new budget! Lack of money does not seem to prevent the Government from extravagant spending. A few days ago Stockholm International Peace Research Institute (SIPRI), whose reports on military expenditure of the countries of the world are very authoritative, released the information that India during the period 2006-10 was the number one importer of military weapons in the whole world. India spent 9% of the total spent by all countries.
Rising debt and deficit lot of which is unnecessary) because it is afraid that this will make it unpopular. Instead, in the new budget, service tax and some excise duties that will adversely affect the common man, are being increased. There are several ways of cutting spending painlessly, and that without courting unpopularity. Let us take an example. Very large amounts of money are drawn in advance of requirements by Government departments for which they have not submitted detailed bills for several years. This is all too common in state governments. A few days ago the Supreme Court asked the Bihar Government and the CAG for information about this. An amount of about Rs 60,000 crore remained unaccounted for. This has now been brought down to about Rs 12,000 crore. If we take the other state governments and the Central Government also into consideration, the total amount for which proper accounts have not been
submitted may be in excess of Rs 1,00,000 crore. It is possible to obtain detailed accounts within about three months and recover large amounts that remain unspent. This should substantially improve the resource position of state governments and reduce their demands for more funds from the Central Government. There is also hardly any effort to recover large amounts due to the Government for long periods. The amount spent on the salaries of Government employees is increasing substantially year by year. The recent Central Pay Commissions have made several important recommendations to reduce the expenditure, which remain completely unimplemented. A Pay Commission had recommended the abolition of a large number of heads of departments which were not justified. But the number has been going up all the time. According to Annexure 7 to Volume I of the Expenditure Budget for 2012-13, the number of posts in the Central Government (excluding Defence Services) will be increased by 2,24,000 resulting in an additional expenditure of Rs 22,000 crore.
India has the third largest defence forces in the world; China has the largest and the US, the second largest. An amount of Rs 1,93,000 crore has been provided in the new budget for defence. It will come as a surprise for many that though India is spending so much on defence, our Government spends much more on paying interest on public debt—Rs 3,20,000 crore as mentioned earlier; about one and a half times more than for defence! It is doubtful if there is any other country with this strange pattern of spending.
Till last year the amount of Local Area Development Fund of Members of Parliament used to be Rs 2 crore a year. This was suddenly increased last year to Rs 5 crore. No reason was given for the increase by the Finance Minister. Most state governments followed the Central Government example and gave corresponding increases to the fund at the disposal of the MLAs. There is no other country which gives money like this to the legislators. There are frequent reports about serious irregularities in spending the money. The Government can cancel the order for the increase and keep the amount payable at the old levels.
We naturally expect the Finance Minister to take some action on keeping the spending under better control. But there is not even one sentence in the budget speech about the problem. Many of the readers may be aware that the Government used to appoint commissions and committees to recommend ways of reducing avoidable spending at intervals of a few years. But recently this practice seems to have been abandoned when the need for it is all the more.
These are only a few examples picked at random to show that it is possible to reduce spending without much effort, if there is the will to do it. But the chances of anyone arguing for spending cuts being listened to will be fewer than that of a dog barking at a passing caravan.
The Finance Secretary, Mr R S Gujral, has openly admitted that the Government is against cutting spending and prefers to increase taxes. It is possible that the Government is not cutting spending (a
(The author is a former Accountant General of Kerala) PASSLINE
March 31-April 30, 2012
11
TAXES
F
inance Minister Pranab Mukherjee in his budget speech announced several changes across various sectors of the economy. The budget identified five objectives relating to growth, investment, supply bottlenecks, governance and removing malnutrition to be addressed effectively in the ensuing fiscal year. Tax relief to individuals, promise to curb black money, major push on infrastructure, capital market reforms and huge subsidy cut were among the proposals listed by the Finance Minister. The Government has been realistic in its tax revenue, disinvestment and growth projections with the fiscal deficit being projected at a higher-thanexpected 5.1% of GDP in 201213, down from 5.9% in 201112. The Central Government is suffering from regional shackles and hence major reforms such as GST, FDI in retail and land acquisition were expected to take an extended period of time to get implemented. Considering the obstacles faced, the tax proposals in the budget mark progress in the direction of movement towards DTC and GST. The increase in indirect tax rates is inflationary, but was necessary to raise the tax-toGDP ratio. The budget also had an increase in the allocation for social welfare schemes and provided relief to individuals. Also, reduction in customs duty for import of coal, LNG and capital equipment along with increasing allocation to road sector will boost the infrastructure sector. Initiatives such as the Rajiv Gandhi Equity Savings Scheme, lower STT on delivery and higher tax-free infra bonds will lead to increased participation from retail investors in the capital markets. In respect of direct taxes, basic exemption limit for individual taxpayers has been marginally raised. As provided under the DTC, a general category of individual taxpayers has been introduced and the concept of different slab rates for males and females has been done away with. Certain new exemptions have been introduced including a deduction of Rs 10,000 for interest from savings bank accounts and a deduction of Rs 5,000 for preventive health check-up. The individual taxpayers expected the savings limit under Section 80C to be increased from Rs 1,00,000 to at least Rs 2,00,000 (as compared to
The Government has been realistic in its tax revenue, disinvestment and growth projections with the fiscal deficit being projected at a higher-than-expected 5.1% of GDP in 2012-13, down from 5.9% in 2011-12. The Central Government is suffering from regional shackles and hence major reforms such as GST, FDI in retail and land acquisition were expected to take an extended period of time to get implemented. Considering the obstacles faced, the tax proposals in the budget mark progress in the direction of movement towards DTC and GST.
By Vivek Krishna Govind
Tax relief to many sections
life, luxury cars, gold, eating out at restaurants and hotel accommodation will become more expensive. The proposal to include all services (except those in the negative list) in the service tax ambit was an expected step and may lead to better compliance, though it could have an inflationary impact. The negative list has 17 heads and includes specified services provided by the Government or local authorities and services in the fields of education, renting of residential dwellings, entertainment and amusement, public transportation, agriculture and animal husbandry. A number of other services including healthcare and services provided by charities, independent journalists, sportpersons, performing artists in folk and classical arts etc are exempt from service tax. The film industry also gets tax exemption on copyrights relating to recording of cinematographic films.
the proposed Direct Tax Code limit of Rs.3,00,000) to drive people to save more in order to minimize their tax liability. However, the savings limit has not been increased. The Finance Minister left the corporate tax rate unchanged, but several proposals have been introduced in respect of corporates. In order to provide lowcost funds to certain stressed infrastructure sectors, withholding tax on interest payments on external commercial borrowings (ECBs) is being reduced from 20% to 5% for three years. Proposals have been included to widen the tax base by levy of Alternate Minimum Tax (AMT) on partnership firms, sole proprietorship and association of persons. For small and medium enterprises (SMEs) the turnover limit for compulsory tax audit of accounts as well as for presumptive taxation is proposed to be raised from Rs 60 lakh to Rs 1
crore. It has also been clarified that presumptive tax will not be applicable for professionals. Provisions have been introduced to remove the cascading effect of Dividend Distribution Tax in multi-tier corporate structure consisting of holding and subsidiary companies. The budget also proposes weighted deduction for R&D expenditure, agri-extension services and expenditure on skill development in the manufacturing sector. Substantial changes have been effected in respect of the transfer pricing provisions and the international taxations provisions have been rationalized. Transfer pricing regulations will now apply to certain domestic transactions also. The budget included a proposal that, if PASSLINE
passed by Parliament, will allow the country to retrospectively tax cross-border transactions in which the underlying assets are located in India. In respect of the Vodafone tax issue, the case will be reopened by the Government in the light of this proposal. This retrospective move is likely to raise Rs 40,000 crore for the Government. Several measures have been introduced to prevent generation and circulation of unaccounted money. In respect of indirect taxes, the Finance Minister has made an effort to widen the service tax base, strengthen its enforcement and bring it as close as possible to the central excise. A common simplified registration form and a common return is being introduced for central excise and service tax. The service tax and standard excise duty rates have been increased by 2% across the board. Almost all the manufactured items used in everyday
March 31-April 30, 2012
The budget offers relief to different sectors of the economy, especially those under stress. Import of equipment for fertilizer projects is being fully exempted from the basic customs duty of 5% for three years. Basic customs duty is also being lowered for a number of items of equipment used in agriculture and related areas. In the realm of infrastructure, customs duty relief is being given to power, coal and railway sectors. Different levels of duty concessions are being provided to help mining, railways, roads, civil aviation, manufacturing, health and nutrition and environment. To help modernization of the textile industry, several items of equipment are being fully exempted from basic customs duty and lower customs duty is being proposed for some other items used by the textile industry. While the direct tax proposals in the budget will result in a revenue loss of Rs 4,500 crore, the indirect tax proposals will result in a revenue gain of Rs 45,940 crore, thus resulting in a net gain of Rs 41,440 crores. (The author is Partner, Varma &Varma, and past Chairman, ICAI).
12
By K C Joseph Varghese
Great expectations, but much disappointment
T
he Finance Bill 2012 contained income tax matters relating to individuals. The final report of the parliamentary committee contained drastic changes in the DTC which were welcomed by the people because of the tax reliefs proposed. The following are the Income Tax rates proposed in the DTC:
No change in the 30% tax rate on companies is proposed. The committee has recommended that the ministry could explore the possibility of abolishing the Securities Transaction Tax (STT), while correspondingly calibrating the Capital Gain Tax regime—both short-term and long-term. Accordingly, the distinction between listed and unlisted securities should be removed. It should also be ensured that companies do not escape paying capital gains tax on the basis of double taxation avoidance agreements (DTAAs). A large number of foreign institutional investors invest through Mauritius to avoid paying tax on capital gains in India. The rates of income tax proposed by Finance Minister Pranab Mukherjee are as follows:
Note: No education cess or surcharge was proposed. Against this, the Yaswant Sinha Committee proposed very attractive tax slab rates as follows:
The committee also suggested the following changes in DTC: Limit on total tax-saving deductions, which include investment in provident fund, life insurance, children’s education and infrastructure bond, be raised to Rs 2.5 lakh from Rs 1.2 lakh. At present, investments up to Rs 1 lakh in specified instruments are deducted while calculating the taxable income. In addition, investments up to Rs 20,000 in infrastructure bonds are also exempted from tax. Enhanced basic exemption for women should be considered. The wealth tax ceiling should be substantially increased to Rs 5 crore from Rs 1 crore currently to reflect the current realities, and beyond that limit, tax should be payable on slab basis as follows:
Notes: Educational cess of 3% on income tax is leviable as before. Enhanced basic exemption limits as per II, III and IV above are allowable to residents only. Proposed 60 days’ stay for non-resident Indians to retain their non-residential status be relaxed and restored to the existing 182 days, subject to conditions. PASSLINE
The Finance Minister retained the basic exemption limit of Rs 2 lakh. For the purpose of enhanced deduction to women below 60, senior citizens in the age group 60-80 and very senior citizens of 80 plus he fell back on existing rates. He also made a slight modification in the income slab so that March 31-April 30, 2012
13 persons in the slab of Rs 8 lakh to Rs 10 lakh need pay only 20% tax as against 30% proposed in DTC. Budget helps rich people more: The following comparative table will show that people falling in higher brackets of income reap more benefits because of the rate structure:
Exemption for savings bank interest: A carrot for the ordinary taxpayer, especially for the salaried class. The Finance Bill provides for introduction of a new section, 80TTA, by which interest on savings bank accounts with banks, cooperative banks and post offices will be exempted up to RS 10, 000. It is specifically mentioned in the proposed new section that this exemption will not be available to interest on term deposits of any kind. The exemption is applicable only from April 1, 2012 and therefore these interest incomes will be taxable during the current fiscal 2011-12. Anyway, the new provision will be welcomed by all. It also clarifies a tricky issue since there is a provision existing presently by which a salaried person earning salary up to Rs 5 lakh and earning SB interest up to Rs 10,000 need not file return of income if the SB interest amount is declared to the employer and the employer deducts tax at source considering this amount also. Many salaried persons were under the impression that this was a blanket provision excluding all such salaried persons unconditionally. Now, according to the new section, all SB interests are exempted up to Rs 10,000 and therefore the necessity for declaring such income to the employer for TDS purposes does not arise. However, if the employee is earning any other income such as interest on fixed deposits on NSC, post office time deposits etc he/she is excluded from this exemption even after the new section comes into force. Even if one earns a paltry Rs 100 as interest on income tax refund, one has to file the teturn of Income! Preventive health check-up expenses: According to the existing section 80D, medical insurance premia payment up to Rs 15,000 is allowed as a deduction, subject to conditions. According to a proposed amendment to this section, preventive health check-up expenses up to Rs 5,000 incurred for self, spouse, dependent children and dependent parents will be allowed as a deduction. However, this will be within the overall monitory ceiling provided in section 80D. The amendment specifically states that even expenditure incurred in cash is allowable whereas the medical insurance premium is not allowed as deduction if remitted in cash. No advance tax for senior citizens: Individuals of 60 years or more who have no income from business or profession are now exempted from payment of advance tax. However, their TDS liability continues. This will absolve them from levy of interest under sections 234B and 234C of the Income Tax Act. They will still be liable to pay interest under section 234A if the return is filed belatedly.
Tax-saving schemes: DTC had scrapped almost all the 19 tax-saving schemes available under the existing provisions. Some were drastically modified to the disadvantage of all those who wished to make deposits etc to avoid payment of income tax. These schemes were originally intended to encourage people to save money which ultimately provided funds to the Government for deployment in various development activities. By deferring DTC, the Finance Minister restored the Income Tax Act into the library and the Act will now be applicable to the financial year 2012-13 also, of course with the amendments proposed in the Finance Bill. However, maybe because of an inadvertent omission, the Finance Bill has not extended the provisions of Section 80CCF to the financial years 201213, whereby a separate deduction of Rs 20,000 over and above the combined upper ceiling of Rs 1,00,000 under sections 80C,80CCC and 80CCD was available for the financial years 2009-10 and 2010-11. By providing a specific financial year in the section itself, the Act needs to be amended for making it applicable to any other financial year. This could very well cause a loss to some taxpayers as detailed in the following example. Rs Gross total income
9,00,000.00
Less: deduction under section 80C etc.
1,00,000.00
Balance
8,00,000.00
Less: Deduction under section 80CCF Taxable Income Tax before budget
20,000.00 7,80,000.00 90,640.00
Taxable Income after budget (without deduction u/s 80CCF)
8,00,000.00
Tax
92,700.00
Loss
2,060.00
Non-resident Indians: There was a proposal in the DTC which caused panic among non-residents especially NRIs. If an NRI was present in India during a financial year for more than 59 days, the non-resident status would be lost and his/her global income also would get taxed in India. Even though the non-residents in countries with whom India has entered into double taxation avoidance agreements (DTAAs) would get relief for tax paid in foreign countries, the non-residents earning incomes in the UAE etc. where there is no tax on Income, would have to pay tax on their foreign incomes also if they lose their non-resident status. As the Finance Minister deferred the implementation of DTC, the old relaxed provisions of the Income Tax Act 1961 will now continue to apply, at least for the coming financial year. A sigh of relief from the NRI community is audible! Securities Transaction Tax: There was a hope that this retrograde tax would be totally withdrawn adding impetus to the growth of the share market. The Finance Minister did not abolish the tax but reduced the tax rate from existing 0.125% to 0.1%. The reduced rates will apply only to transactions taking place on or after July 1, 2012 according to the proposal in the Finance Bill. New exemption for capital gain: A new section 54GB is proposed to be introduced granting exemption to long-term capital gains arising out of sale of houses and lands. This new proposal is intended to promote the growth of small and medium enterprises (SMEs). However, this new relief is available only to Individuals and Hindu undivided families (HUFs). The main conditions for getting this exemption are: The net consideration received from sale of house, plot of land etc should be invested by the assessee in a newly formed SME company’s equity shares on or before the due date for filing the return of income under section 139(1) of the Income Tax Act. The assessee should hold at least 50% of the SME company’s equity or should have at least 50% of the voting rights in the company. The equity funds received by the SME company should invest them in new plant and machinery within one year of receipts. In the event of failure to do so, the said amount should be deposited in a deposit account to be specified later within the time allowed for filing the return of income under section 139(1), for future utilization. The exemption provisions are applicable only up to March 31, 2017. TDS on sale of immovable property: According to existing provisions, TDS under section 195 of the Income Tax Act is to be deducted from sale consideration paid to non-residents only. Further, according to section 194LA, tax is deductible when properties other than agricultural land are acquired by the Government. According to a new proposal, 1% tax is to be deducted by resident transferees also in the case of transfer of non-agricultural lands. The threshold limit fixed for urban properties is Rs 50 lakh and in other cases RS 20 lakh. The registering authority will ensure that the applicable TDS has been made before registering the document concerned. (The author is a chartered accountant of Kochi)
PASSLINE
March 31-April 30, 2012
KERALA BUDGET
14
A visionary document for state’s take-off
I
t was often said about Kerala that the state missed the development bus on many occasions in the past. Kerala, despite its enviable track record in quality of life indicators, lagged the rest of the country in economic growth. This created a paradoxical situation of ‘economic stagnation in spite of social development’ even though admirers of the ‘Kerala Model’ claimed it to be a case of ‘social development despite economic stagnation’. Kerala has always been reluctant to accept inevitable changes, be it in technology or economic policy. It missed the bus of economic growth in the 1980s when the Indian economy moved up from the Hindu Growth Rate (3.5% GDP growth) to a higher growth trajectory of 5.6%. Again, in the 1990s, when India embraced liberalization that pushed the Indian economy to a still higher growth rate of 6. 4%, Kerala took a clear anti-liberalization stand. Even though Kerala has always been much more globally integrated than other states, the dominant social outlook here has been anti-globalization. This ‘anti-liberalization anti- globalization posture’ cost the state dear in terms of growth. Kerala’s realized growth has been far lower than its potential growth. It appears that the situation is now changing for the better. Labour militancy and strikes are few and far between. The state has a much better track record compared to some other states regarding the work days lost due to strikes and lock-outs. The real problem in Kerala today is not unemployment, but shortage of labour in many areas. There are lakhs of ‘nonstate workers’ working in Kerala today. Though agricultural and industrial growth leaves a lot to be desired, economic growth rate has picked up thanks to the high growth rate of the services sector (11%) driven by consumption, which in turn is driven mainly by remittances from abroad. Kerala’s growth rate is now above the national average. While India’s growth rate has been estimated to be 6.9% in 2011-12, Kerala’s is projected at 9.1%. This high growth has given the Finance Minister a 19% growth rate in revenue. The state has the potential to move to doubledigit growth provided an enabling economic policy and a visionary leadership are in place. This year’s budget gives hope on this front.
Kerala’s growth rate is now above the national average. While India’s growth rate has been estimated to be 6.9% in 2011-12, Kerala’s is projected at 9.1%. This high growth has given the Finance Minister a 19% growth rate in revenue. The state has the potential to move to double-digit growth provided an enabling economic policy and a visionary leadership are in place. This year’s budget gives hope on this front.
2 Infrastructure development 3. Employment-oriented skill development 4. Entrepreneurship development 5. Adoption of innovative technology
This seven-point strategy, very appropriate in the present Kerala context, if implemented with adequate allocations, can go a long way in the development of Kerala in the years to come. It goes to the credit of Mani that he has walked the talk.
Budget at a glance Items
RE 2011-12 BE 2012-13
Revenue receipts
39587-85
48141.59
Capital receipts
10917.78
11099.85
Total receipts
50505.63
59241.44
Non-Plan expenditure
41410.36
47101.62
9572.75
11874.59
50983.11 45059.51 4949.15 974.45
58976.21 51605.36 6554.90 815.95
5471.66
3463.77
Plan expenditure Total expenditure Of which: revenue expenditure capital expenditure Loan disbursement Revenue deficit
Agriculture: a new approach: Though agriculture contributes only 10% to Kerala’s GSDP, its cash crop segment is doing very well. A major constraint in Kerala’s agricultural growth is the non-availability of adequate farm labour. Also, the Kerala society has a clear preference for white collar jobs. Mani attempts to tackle this problem by focusing on hitech agriculture. There are provisions for subsidizing green houses set up for vegetable cultivation in all panchayats. Coconut and paddy bio-farms are to be set up in Palakkad and Kuttanad for the development of value-added products for these crops. Welfare schemes: While giving priority to infrastructure and agricultural development, Mani has not neglected the vulnerable sections. In fact, there is a good thrust to welfare spending too. Pensions for the elderly, the physically challenged and widows have been increased. Allocation for welfare schemes for the fishermen has been stepped up. A new scheme in the budget for giving education kit worth Rs 1,000 for the children of women working in the MGNREGA has been announced.
VAT raised: VAT has been increased by 1%. Coming as it does after the 2% increase in excise and service tax by the Centre, this move is certainly inflationary. But the Finance Minister has reduced the VAT on some essentials like powdered grain, pulses, chilly, cooking oil etc to mitigate the inflationary impact. The increase in VAT by 1% to net Rs 1,000 crore will enable the State to get additional compensation from the Centre on the implementation of GST.
1. Quality improvement in all sectors
7. Public-private participation
tainer terminal and the high-speed rail corridor. Some allocations are inadequate; but one has to concede that a serious beginning has been made. These major infrastructure projects, on completion, will alter the very face of Kerala.
Apart from these initiatives, the budget stands out for its focus on tackling waste disposal which has become a major problem in Kerala today. There is an allocation of Rs 100 crore for subsidy in this area. There are incentives for waste-processing at source.
Seven-point strategy for growth: Presenting the budget for 2012-13 Finance Minister K M Mani outlined a seven-point strategy for the comprehensive development of the state. The seven points are:
6. Increase in capital development
By Dr V K Vijayakumar
Thrust to infrastructure: The hallmark of this budget is the thrust given to infrastructure. There are allocations for Kochi Metro, mono rails in Thiruvananthapuram and Kozhikode, Vizhinjam con-
While giving priority to infrastructure and agricultural development, Mani has not neglected the vulnerable sections. In fact, there is a good thrust to welfare spending too. Pensions for the elderly, the physically challenged and widows have been increased. Allocation for welfare schemes for the fishermen has been stepped up. A new scheme in the budget for giving education kit worth Rs 1,000 for the children of women working in the MGNREGA has been announced. PASSLINE
March 31-April 30, 2012
Thrust to education: Education gets a big thrust with the proposal to set up medical colleges in all districts, Technical University in Thiruvananthapuram and Ayurveda University near Kottackal. There is a laudable scheme in the budget for skill enhancement of students at the secondary and higher secondary levels. On the flip side, the Mani has not succeeded in controlling the ever-rising revenue expenditure. Salaries, pensions and interest payments consume the bulk of the revenue. Non-Plan expenditure rose by 30% during this year. This unhealthy trend needs to be reversed. The decision to raise the retirement age of Government employees was a logical corollary to the decision of the Left Government’s decision to unify the retirement age. This decision which removes the many anomalies of the earlier decision is to be welcomed. The seven-point strategy for growth and the budget initiatives are well-thought-out. The challenge, however, is to implement these initiatives with a bold action plan. The Kerala Government and its political leadership have to rise to the occasion. (The author is Investment Strategist, Geojit BNP Paribas Financial Services)
15
RAILWAYS
By K Vijayachandran
I
n December 2009, Mamata Banerji presented in Parliament the Vision 2020 document for the Indian Railways (IR). In the introductory part of this document she had stated: “When I was the Railway Minister last time (1999-2001), Indian Railways was the second largest railway network under a single management in the world in terms of route length, after the Russian Railways. It has now slipped to the third position. Our vision is to put it on the road to regain the number two position in the coming decade and thereafter gain the number one position in the subsequent decades not just in size, but in every other significant respect.” This, indeed, was a grandiose vision, not only about IR but also about herself. Within two years, after presenting her vision document, Mamata shifted to Kolkata and since then, she had been ruling over IR from Writer’s Building, with the help of her nominee Railway Minister, Trivedi. Mamata became unhappy with her nominee’s performance: First, he did not do enough for West Bengal and secondly he had proposed a seemingly unpopular revision of rail tariffs, in consultation with her arch rival, Pranab. The good old critics of Mamata from left, right and centre now have their last laugh over her vision document, Railway Ministers, as a rule, play populist games and try to do something extra for their native states. Mamata was no exemption, despite her tall talk on Vision 2020. Foreign experts and consultants have made dozens of proposals for reforming IR, as part of restructuring the national economy. However, they remained on paper, like the Vision 2020. The only agenda that got implemented related to staff reduction. As a result, IR suffers from under-staffing today in terms of quality as well as quantity: Present staff strength is around 14 lakh, two to three lakh less than two decades ago. Last year 80,000 new hands were re-
In search of a new vision cruited anew, and the current budget targets 1,00,000. Manpower in IR was growing pretty slow even in the past compared to its galloping output. True, with higher train speeds and better technologies, labour productivity increases. However, the historical data, presented in the chart ‘Indices of Growth’, show that, there
Railway Minister Mukul Roy
was a 12-fold increase in output, in terms of passenger and goods traffic, with human resources stagnating or increasing only marginally. Not only staff strength but also the route kilometre length of IR has registered only a marginal increase after national independence. In Kerala, we had experienced a big improvement in rail traffic, but that is not the case with most other states. Very few Indian villages and towns in India got connected to the rail after the British left the subcontinent. Rail penetration in the country continues to be far below the international experience, on the basis of geographical area as well as population. India has 71 route km of railway per million people, and 19 r-km per 1,000 sq km. This is far below that of the US (803/ 22), France (603/63), Germany (520/ 117) or Japan (192/63). China was far behind India in rail penetration, but it has more than doubled its route rail length after independence to around 65,000 KM. However India was making large investments in doubling lines as well as in gauge conversion. IR could increase the productivity of its PASSLINE
manpower with the help of such improvements in track and related communications systems as well as higher capacity traction equipment as evident from the index chart. Express and long-distance trains as well as suburban trains were the major contributors to the 12-fold increase in the output of IR with relatively
Former Railway Minister Dinesh Trivedi
fewer employees. Quality of service and law and order on the tracks and stations were the major causalities in this blind pursuit of higher and higher worker productivity. A railway employee was a respected citizen during the British days and even his modest quarters were looked upon with respect by the common people. All these have changed now and railway employees have been considerably devalued socially within the span of a generation. IR has succeeded to keeping up its relatively good safety records; however crime rates have been steadily increasing in recent years. People in general are unhappy with IR despite its lower costs and more comfortable travel in comparison with alternatives. Dirty coaches, overcrowded and ill-maintained railway stations with extremely poor civic amenities and not-so-polite employees whose services are strictly rationed are the order of the day. Indian railway stations were noted for their safety, security, dignified environment and neatness all round and even good-quality tasty food. Plenty of working people were retrenched by IR as non-essential staff. March 31-April 30, 2012
IR looks like a leviathan and is a bureaucratic organization, presided over by a Cabinet Minister, supported by one or two Ministers of State, and then the Railway Board, its Chairman and half a dozen board members etc, etc and all connected up in series and in parallel. There are 15 zonal railways, each administered by a General Manger, who looks after the construction and operation of rail lines and related systems of the zone.
With the stress on long-distance express trains and neglect of passenger trains, a large number of our railway stations bear a deserted look, today. In the good old days, even the wayside stations were offering parcel booking services to anywhere in India, and had certain minimal godown facilities. They have mostly disappeared, now. Railway stations in our rural districts are dying a natural death: their assets and facilities could be of use and economic relevance to local populations if they are salvaged and properly maintained. IR was created out of the numerous small rail systems, constructed by the British East India Company, and the numerous other companies floated by foreigners. This imaginative PPP adventure of the 18th century had set up the first rail system in the country in 1853, just four years before the Sipoy Mutiny or the First War of Indian Independence. These decentralized initiatives were close to the local communities and local environment in their own ways and for their own reasons. There were numerous mergers and acquisitions of these small ventures later, and spanning the two centuries. IR and its organization in the present form had evolved over the last six decades of national independence. IR, as of now, (see chart) is a complex organization and provides work space for some 14 lakh employees: They work in numerous enterprises, organizations and departments with varied objectives, occupations and assignments that are of great relevance to the national economy. Thanks to its historical background, IR happens to be the father and mother of not only most engineering disciplines in the country but also of numerous non-engineering professions such as accountancy, project planning, economics, project financing and even information technology. IR has contributed to the self-reliance of our national economy To page 24
INSURANCE
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By Viswanathan Odatt
The rising vehicle insurance premium There is a possibility of rise in the premium of general insurance because of the 20% increase in the reinsurance premium. Besides, there may also be an increase in the premium because the tax has to be paid from 10.3% to 12.36% from April in accordance with the renewed Service Tax norms.
T
he premium on third party insurance of vehicles has been raised with effect from April 1. The Insurance Regulatory Authority of India (IRDA) has released the order to this effect. The rate of increase is from 6% to 40%. The increase will affect commercial vehicles more than private vehicles. It is three-wheelers which will feel the pinch of the rise in the rate. The increase for private vehicles is not much. The rise in the premium rate is not adequate in proportion to the actual claim amount of the insurance companies, say companies. There is a possibility of rise in the premium of general insurance because of the 20% increase in the reinsurance premium. Besides, there may also be an increase in the premium because the tax has to be paid from 10.3% to 12.36% from April in accordance with the renewed Service Tax norms. If there is a quantum jump in third party claims the insurance companies are likely to withdraw the discount on premium of vehicle insurance on damage. This may also lead to a rise in the premium. Taking into account the large number of claims and the rate of inflation the companies have been given the right to fix third party insurance each year. The IRDA has pointed out in its circular the reason for the inordinate rise in the third party claims and the settlement amount and the premium(on the basis of inflation and income). It is the insurance companies that pay the compensation to the insured vehicles that meet with accidents. Naturally the more the number of accidents the more will be the claim amount. When the claim amount mounts the insurance companies will increase the premium rate. These factors are co-related. In India insurance companies now bear a loss of Rs 10,250 crore by way of third party motor insurance claims. This could not be mitigated at a stretch. The loss can be overcome in phases. If the claim rate is 213% this year it was 183% last year. The year before it was 163%. In such a serious situation it is but natural that the premium is being raised. However, in order to normalize the premium rate, reduce the accident rate and prevent fake claims emergency steps should be initiated. Only steps to reduce the number of claims and honest settlement can keep the premium rate at a low level. odatt@aimsinsurance.in PASSLINE
Premium for a passenger
March 31-April 30, 2012
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PERSONALITY Joy Alukka of the Joyalukkas Group is the proud owner of the maximum number of shops in the Gulf zone. His group is also operating 23 jewellery showrooms across India. Adherence to values like integrity, quality, dedication and customer satisfaction has helped the group to attain the position of being the ‘world’s favourite jeweller’.
Joy Alukka—man of dreams "H
ard work and dedication can help you to attain anything you wish or anything you dare to wish”, says Joy Alukka, Chairman of Joyalukkas Group Pvt Ltd. When the man behind the Rs 5,000-crore business empire says this, his eyes gleam with pride and joy. Yes, he is the one who can define the term ‘success’ in all its senses. When the PASSLINE team met Joy in his office, he was quite busy with his daily schedule. Still he welcomed us with a sweet friendly smile and spared sufficient time for us. Of course, the meeting with this down-to-earth visionary was more a chit-chat than an official interview. That’s what he is, Joy Alukka, the globally acclaimed business tycoon with simplicity as his trademark and success secret.
By Radhika C Pillai room in Abu Dhabi, followed by showrooms in Dubai, Sharjah, Al Ain and Ras al Khaimah. The expansion continued and he set up shop in Qatar, Oman, Bahrain and Kuwait. The Joy Group even established its identity in Europe by opening a showroom in London. The services and products of the Joyalukkas Group of Companies have been recognized by various national and international organizations and have won several prestigious awards and laurels. The quality of products also helped the company to get the ISO 9001:2000 & ISO 14001:1996 certifications.
next weakness. He is a lovely husband, and a strict dad for his children. Normally his day starts at 6 in the morning and continues till late in the night. “Of course tension, responsibilities and smiles—all these are part of my life. I love these. Without work there is no ‘Joy’. I am not sociable and never want to spend my free time in clubs or groups. My world revolves around my family and my business,” says this perfect family man. His wife Jolly is his strength during tough times. The Alukka couple have three children—two daughters and a son. The son, John Paul Joy, looks after the entire Joy Group in the Gulf sector. The elder
Joy is always emphatic about his views and thoughts. “Hartal is the main impediment to the progress of Kerala”, says the successful entrepreneur. “The people in our state are more bothered about issues in other countries and even other continents. They don’t want to keep an eye on happenings here. And they have a single solution to all our problems—hartal. This lackadaisical attitude should change”, he says. Being the son of a famous jeweller, Joy had a strong instinct for business even from his younger days. His father, the late J Varghese Alukka, founded the Alukkas Jewellery in 1956. Varghese’s commitment and dedication to business was the inspiration for his five children too. This was what made him join his family business. Later, in 1987, he started his maiden venture, Joyalukkas, in the UAE. It enabled Joy to explore the gold market in the Gulf. He set up his first show-
Joy with wife and children
Now Joy is the proud owner of the maximum number of shops in the Gulf zone. His group is also operating 23 jewellery showrooms across India. Adherence to values like integrity, quality, dedication and customer satisfaction has helped the group to attain the position of being the ‘world’s favourite jeweller’. Apart from business, family is his
daughter, Elsa, is an MBA and the youngest, Mary, is still in school. Besides his love for the yellow metal, Joy has great interest in movies and music. He has even acted in a film, Kasthurimaan, and another, Diamond Necklace, is all set to be released soon. Joy’s love for music steered him to launch a 24 x 7 radio. Owing to its creditable performance, ‘Joyalukkas Radio’ was a hit on the
Rolls-Royce is his new joy Joy Alukka’s love for luxury vehicles has always made headlines. Earlier this ardent love made him own a jet plane. Now it is the Rolls-Royce. The Rolls-Royce Ghost imported by the Joy Alukkas Group from London at a cost of about Rs 2.5 crore is the latest addition to his luxury vehicle fleet. The vehicle has fetched the RTO Rs 20.22 lakh as vehicle tax for 15 years. PASSLINE
March 31-April 30, 2012
FM chart list of music lovers.”Music is my passion and I am always ready to sing at any time in any place”, says the energetic man. Joyalukkas Pvt Ltd has diversified into other fields, having already entered the business of diamond jewellery, wedding centres and money exchange. Recently it was in the news for entering the aviation sector. The company is planning to invest Rs 200 crore in its aviation wing by next year. Named ‘Joy Jets’, it is considered to be the first charter service in the state to obtain licence to conduct non-scheduled flights. Like other Joy ventures, the sixseater Joy jets have become a huge hit, witnessing 40 hours of flying last month. The company has also bought three modern helicopters, which are set to take off within days. Now the jet operates for short-range services from the Cochin International Airport and the services are mainly targeted at corporate clients. ‘Mall of Joy’, a Rs 1,000-crore venture, is the latest addition to the Joyalukkas global business group. This project would provide a one-stop shopping experience for customers. Under it malls are proposed to be set up in Kochi,Kozhikode, Thiruvanantha puram, Alappuzha, Thrissur, Kottayam, Palakkad and Coimbatore. During this fiscal year, the turnover of the group is expected to reach Rs 3,500 crore in Kerala and Rs 3,000 crore overseas. According to Joy, the recession and other global developments won’t hit any business sharply if you have a well-thought-out marketing strategy. It is this systematic approach to life and work that has made Joy a complete man. “By the grace of God, we had an outstanding year and we are heading towards our target”, he says. Answering a question about the impact of the budget on the gold market, Joy says the high price wouldn’t keep gold lovers of Kerala away. “Though it may dull the market a bit, we can sustain the interest”. But the increase in gold duty can induce smuggling. The Government should take steps to curb such illegal practices, he says. “Keralites’ attitude towards work cannot also be appreciated”, says Joy and adds,”It is high time they changed this languid attitude. Otherwise it will reflect on our economy too”. “But the younger generation provides some hope”, he concludes.
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Passline News Service
W
omen’s economic empowerment is arguably the biggest social change of our times. Women have already crossed the 50% threshold and become the majority of the American workforce and earn almost 60% university degrees in America and Europe. More than 50% of university graduates in OECD (Organization for Economic Cooperation and Development) countries are also women. They run many of the world’s great companies, from PepsiCo in America to Areva (nuclear energy) in France. In annual rankings by FORTUNE, the world’s most prominent business magazine, it is being found that more women in more countries are wielding more corporate clout than ever. So, is the glass ceiling cracking? Ask Sheela Kochouseph, wife of the legendary entrepreneur Kochouseph Chittilappilly of the V-Guard Group of Industries and herself an entrepreneur of great standing. “Maybe. It is true of advanced countries like the US and parts of Europe. And in several parts of our country women are coming to the forefront in larger numbers. But I am afraid that it is not the case with Kerala—at least now. Large numbers of women are still hesitant to enter business, though the number of women opting for jobs is increasing. However, in my opinion, things will change in the state and who knows whether in another few years’ time our state won’t lead the country in women’s empowerment not only in entrepreneurship but in other fields too,” says Sheela who today presides over a garment manufacturing industry of her own, V-Star Creations. What does she think is the reason why women in the state prefer to stay in the background? “To a great extent
Sheela Kochouseph founded V-Star in 1995 “to bring fashion to the masses” and “to transform the clothing industry as we know it today”. And today, according to her, it is the number one or number two ‘reigning star’ of style in Kerala. men are to blame for this. Many don’t like their womenfolk playing a larger role than they are doing now, perhaps because they fear they may have to bear more burdens,” says Sheela. Restrictions on girl children by parents are also responsible for women failing to come up in life, according to her. “But things are changing. Girls of today are more open and more educated and are also ambitious,” she says. PASSLINE recently caught up with her to know firsthand how this simple, unassuming and plain-speaking lady, with the girl-next-door image, came on the scene. Her company, though not very big, is highly focused and fastgrowing, but when Sheela describes how she manages it, you wonder if you haven’t stumbled into one of those giants in industry where people are feverishly trying to change the culture. Sheela founded V-Star in 1995 “to bring fashion to the masses” and “to transform the clothing industry as we know it today”. And today, according to her, it is the number one or number two ‘reigning star’ of style in Kerala.
What has caused this transformation in just 17 years? “The stature VStar enjoys is in no small measure due to its Managing Director, Sheela Kochouseph, and her prodigious talents,” say the company’s managers and employees. “I don’t feel that I am solely responsible for the success we have achieved over the years. My managers and workers have their own great contributions. One reason for this is that the workers have a lot of latitude at V-Star. When our managers or I myself put someone on a job, hopefully we won’t have to talk to her again until it is done. Our only requirement is that workers complete their tasks within the time allotted for them. Every one of our workers, almost all of them women, is self-motivated and creative and has a great interest in their job. So we are happy, they are also happy,” Sheela says. Sheela also aims to make sure her managers are equal to the challenges of growth—and so charged up that they don’t succumb to the complacency that comes with success. Par-
Kochouseph Chittilappilly and
top-notch quality of V-Star products and the excellence of design are direct results of her willingness to go to any lengths until the desired effect is achieved. “But my opinions are suggestions and need not be final de-
The rewards of impatience Men, in most cases all over the world, have, by and large, welcomed women’s ‘invasion’ of their profession, studies show. But women are still underrepresented at the top of the companies. And juggling work and child-rearing is difficult. “What was Kochouseph’s reaction when you decided to enter business of your own?” Says Sheela: “I had from childhood been interested in the textile business and in stitching, perhaps because my father was into it. Incidentally, he was also a jeweller, having established the first jewellery shop in our area. Of course, I didn’t plunge into business all of a sudden. Immediately after my marriage to Kochouseph, I took up a job at V-Guard. I however left it after a year as I was not the type who can be tied to the 9.305.30 job. I felt impatient and itched for something which I could call my own. I was just waiting for the opportunity to prove myself.” “One day I broached the subject with Kochouseph. I told him about my idea of weaving my own legacy but under the V-Guard umbrella. Not only did he support my plan but he encouraged me. Initial capital was the problem. But he volunteered to provide it. I went ahead.
Sheela with one of her paintings
ticipation, says she, is the norm at all levels—from the managers to the factory-level groups. Of course, her fashion sense and hands-on management policy have assured V-Star’s rise to leadership in a very short span. The
“I knew very well that textiles were not as easy as several other items and there were many more people making clothing and stitching it than work in any other industry. In Kerala there are PASSLINE
March 31-April 30, 2012
many women stitching clothes and selling them to textile shops. But my goal was different: to take an old-fashioned industry into a modern one.” Though initial problems were there, things went on well. But was it fun a patriarch of the genre of Kochouseph looking over your shoulder? “Certainly it was not fun,” she says, but she credits her husband not just with giving her enough rope but with leaving her alone to manage her unit. “In return, I didn’t bother him with giving him trouble over the unit except when I needed his advice, very valuable as it proved for a novice like me.” Today, V-Star is Rs 44-crore company that stands on its own feet and makes profits. It provides direct employment to 200 people and indirect employment to 2,000, supplying products to more people than she had ever imagined she would be able to. Was her family supportive? “Yes, all members were. Only a few friends of mine raised their eyebrows. But they themselves realized later that their apprehensions were unfounded.”
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cisions. I welcome suggestions from all. On many occasions it is the opinion of the majority that prevails. There are no ego clashes here. Only by being creative and innovative can a company grow,” she says. “The key thing I have learnt is that the best thing you can do is to listen. You don’t have to have the last word. You don’t have to get credit for anything. I have always led in groups—get people around the table to discuss issues.” Treating your employees well, says Sheela, is as much a matter of necessity as of conscience. “You cannot run your company like a primary school teacher of yesteryear. If you try to do so you are not going to last long in it. You can’t do everything on your own.” V-Star has captured markets and hearts in Kerala, Tamil Nadu, Karnataka and the Middle East, places where it enjoys almost unchallenged monopoly. Sheela insists that this is due to “a wonderful team, efficient managers, inventive and innovative designers and an eager and dedicated workforce.” “And V-Star never compromises. Quality is the goal. We ensure perfection in every product. Fabrics make their way to V-Star after they are sourced directly from highly reputed mills,” says Sheela. Sheela
How does V-Star ensure that its products that enter the market are of the quality that can effectively compete with those of the most reputed brands? “An exhaustive series of tests and evaluations by experienced quality supervisors guarantees texture and weave. Designers with dexterity use their talent to craft magical innerwear. The latest machines take care of the cutting. We see to it that every employee’s talents are utilized to the maximum.” V-Star started with making churidars. But it discontinued the item as “lots of players entered the field.” In 2003 it forayed into the innerwear market by introducing Vanessa Premium undergarments for women. The Vanessa varieties of bras, panties and camisoles are designed to match international standards and at the same time provide value for money to the average consumer. Crafted with a flawless blend lace and fabrics, Vanessa matches the very best of the international market. The company branched out into men’s underwear with Valero in 2007. It is, claims the company, a fine variety of innerwear that exudes masculinity in every strand. Valero is the premium range of quality briefs and vests for men, crafted out of 100% super-combed cotton with the aid of the finest imported machinery. Did the V-Guard brand help the marketing and sale of V-Star products? “In the beginning by way of advice and finance it helped. You see, no brand sells by itself nor does any brand help the product(s) of a sister concern. People look for quality. Kochouseph and VGuard helped me early on because help was needed then. To sell, again, a product must be different and price-competitive,” says Sheela. Hailing from the famous Alapatt Palathingal family of Wadakkanchery in Thrissur district, Sheela was married to Kochouseph Chittilappilly of Parappur, also in Thrissur district, in 1977. His VGuard Industries had been in the field for just six months. Sheela remembers
how the indomitable Kochouseph struggled to establish himself. He started making voltage stabilizers, lining up Rs 1 lakh from his father, in a small tent at Kaloor in Kochi. His SSI unit had just five workers initially. He used to sell the stabilizers himself carrying them on his scooter. The runaway success of the stabilizer was one of the series of triumphs that catapulted V-Guard ahead of much of the competition. Production of pumps, fans, UPSs, cables and electrical and solar water heaters followed and they today are in great demand everywhere. A few years ago, V-Guard also diversified into a new area—it started the amusement park, Veega Land, in Kochi. Veega Land was recently renamed Wonder La. The second unit of Wonder La has also been started in Bangalore. What type of man is Kochouseph? “He is down-toearth and extremely hardworking. There is no rest for him until he completes the task he has undertaken. Challenges always excite him. A stickler for accuracy, perfection and discipline, he is always alert: not even small points escape his notice. Though he discusses everything with me, including business affairs, he takes the decisions which he thinks are right and implements them. Listening to music and watching documentary films are his hobbies. I also like music,” says Sheela Her competitive edge? Energy, determination, a sharp focus on the customer’s needs—and a gift for making potentially dreary work so rewarding that employees naturally strive to be productive and thorough. As she talks about V-Star’s future plans, her characteristic ebullience surfaces. “We are launching ‘Little Vanessa’ and ‘Little Valero’ in April 2012. They are for children, as you can make out,” Sheela says. About plans to go out for an initial public offer (IPO) to be deployed To page 34
A man whom popularity chases Kochouseph Chittilappilly is a man who seems not to enjoy being in the limelight. Strangely, however, popularity always chases him. He recently attracted great media attention when he donated one of his kidneys. What did Sheela and other members of the family think of this philanthropic activity, which is part of his life? Did he discuss it with them before taking the decision? “Of course he did discuss it with me and with others. No one actually had anything against his plan. Only I was a little worried—actually his sisters were more worried—because he is not very young and doctors had indicated possibilities of certain risks in such cases. Still we were all happy that he was doing a great humanitarian service.” says Sheela. According to Sheela, Kochouseph just enjoys doing things he likes to do. No one tries to make him change his decisions. He also loves being in the company of his managers and employees and be of help to all who need it. PASSLINE
March 31-April 30, 2012
20 Mr Paul Antony, the new Chairman of the Cochin Port Trust (CPT), lists the areas which need his immediate attention and discusses his immediate priorities, the performance of the port and its growth prospects. In an interview with PASSLINE, he also talks about the steps he is taking to reduce the losses, mostly arising out of the frequent dredging operations, the impact DP World is having on CPT operations and the hurdles in the way of the fullfledged functioning of the Vallarpadam International Container Transshipment Terminal (ICTT). Excerpts: Which areas in CPT, according to you, need immediate attention? Getting ICTT to deliver; commissioning the LNG regasification project; initiating the master plan for Willingdon Island which envisages projects like the Free Trade Warehouse Zone, the Ship Repair Yard, the Port Users’ Complex and the Logistics Park; mobilize resources for meeting maintenance dredging expenses and the special VRS scheme. As the new Chairman of CPT, what are your development priorities for the port?
CPT in for revamp buildings, sheds and godowns apart from regular port operations. How has CPT gained economically from DP World operations? What impact does DP World have on CPT? According to the agreement, CPT is to get a share of the cargo-related charges. Since the operations of the ICTT are yet to reach full swing for various reasons the annual dredging expenditure incurred by CPT is currently higher than the share of cargo-related charges because of CPT every year. With the commissioning of the ICTT, CPT is in a position to provide container handling services of international quality to exporters, importers and the port users. With the operations of the ICTT reaching full swing the terminal is expected to generate substantial revenue for CPT and contribute in good measure to CPTs throughput. Any hurdles in the way of the fullfledged functioning of ICTT?
Some of the hurdles presently Apart from the ICTT and the LNG project, implement the IOCL-BPCL jetty; tender the Ship Repair Yard, FTWZ, plots for commercial development and the General Cargo Berth; leverage land leases to boost the port throughput-120 acres for a 1,200 MW power plant, six acres for a one-MMT cement bagging plant and for two CFSs; buying a dredger and/or entering into a longterm dredging contract to Paul Antony reduce maintenance dredging expenses; setting up a desalination plant and the outer faced by the terminal are paucity of harbour project. container freight stations (CFSs) for How do you compare this year’s perclearance of containers and cargo, furformance of the port with that of ther requirement of streamlining of the previous fiscal year? functioning of statutory authorities and In terms of tonnage Cochin Port has weak feeder vessel network. achieved 13% growth during the curWhat is its marketing strategy? rent fiscal against the national average The marketing strategy as eviof 2%. The previous highest throughput was 17.87 million tonnes in 2010-11 in denced from its functioning is to prothe previous financial year. However vide the necessary infrastructure, sysmainly because of additional dredging tems and quality service well ahead and cost a net loss of approximately Rs.85 wait for the customer base to build up. crore is projected in the current finan- It is endeavouring to get the various cial year. For April-February, 2011-12 the container sailing services, both global average ship berth day output is 15,884 and domestic, to include ICTT in its MT per ship berthday as compared to ports of call to establish connectivity the target of 12,400 MT per ship to the various sectors of the globe as berthday. Average turnround time is well well as tapping the various exporters within the target at the 1.84 days wrt and importers in the hinterland for using the services for shipping its cargo. target of 2.00 days. What is the envisaged growth in the next fiscal year? The growth in throughput in the current financial year is to be in the region of 13% as compared to the previous year. We expect a higher growth rate in the next fiscal with the commissioning of the LNG project in early 2013, operations of the ICTT nearing full swing and general growth in bulk cargo volume especially dry bulk in line with the promotional efforts of the port. What other revenues does the port get apart from those from the regular port operations? Mainly rent from land and rent from
CPT is infamous for loss of working days due to labour unrest and for umpteen other reasons and according to the users of CPT, this destination is not at all a feasible one. What are your comments? It is true that there has been labour unrest but it is far less than that in the past. In fact non-working time for vessels due to strike/stoppage of work during 2010-11 is zero hours. Labour issues normally are confined to a specific area, say bagging. But this does not affect other operations. The port has also been able to settle issues without much loss of time. The port is also planning to introduce mechanization to PASSLINE
supplement labour working to enhance productivity. If we compare the throughputs for the April-January period for the current year and the previous year we find that dry bulk, break bulk and containerized cargo has shown appreciable increases. Will commissioning of Vizhinjam port affect CPT and ICTT and if so how? Containerization is on the increase globally. Indian container trade is expected to grow at 8% per annum which would require significant expansion of container handling facilities in the country. Hence it is felt that any diversion of traffic to another transshipment port in the vicinity would be offset by burgeoning demand. Vizhinjam port would be more suitable for deep-drafted container vessels while CoPT could continue to cater to vessels with drafts up to 14.5 m. ICTT ,Vallarpadam, will have a capacity of four million TEUs in the final phase. Option to modify the facilities at ICTT, Vallarpadam, to cater to latestgeneration container vessels also exists. Kochi would also be a nearer port for export consignments originating from trade centres located to the north of Kochi. Consignments related to industries in the hinterland of Cochin Port as well as a good portion of the transshipment trade would be handled by CPT. -The port has also plans to set up an outer harbour in deeper waters. The frequent dredging operations at Cochin Port have made a dent in its bottom line. Is there any solution to ease the loss in the near future? As the highways are maintained by the Government the port channels should be treated as common user facility and maintained by the Govern-
ment. This is so because certain ports like Kochi despite many positive points are bogged down by dredging because of siltation of the navigational channels. This totally upsets the feasibility of port operations since the port is forced to load the component of dredging cost in its tariff structure. A possible solution is that a port can continue to maintain its channels with reimbursement of the cost by the Government as in Europe. The port is also looking at other options like buying a dredger, entering into long-term dredging contracts as well as setting up an outer harbour in deeper waters to reduce maintenance dredging expenses. The system of breakwaters proposed for the outer harbour may bring a permanent solution to the siltation from the sea. CPT has been implementing a corporate plan prepared some two decades ago. The plan had several components such as International Container Transshipment Terminal and other projects. Work on the Tank Park, Chemical Complex and Ship Repair Yard is yet to start. What is the status of these projects? The International Container Transshipment Terminal (ICTT) has already been commissioned ( on February 11, 2011). Capital dredging in ICTT basin is being carried out. Capital dredging work for berth length of 605 m is to be completed shortly. Other impeding issues are being ironed out to achieve targeted levels of container throughput and full-fledged functioning of ICTT.
Tank farms have been set up at the port by private operators. There is no chemical complex at Cochin Port at present
The Ship Repair Yard is proposed to be set up on 45 acres of land to be leased out to competent parties for a period of 30 years, with 850 metres of water frontage. A detailed project report has been prepared and steps are under way to obtain ‘in-principle’ approval from the Ministry. Bids have been invited for appointing transaction adviser for implementing the project on PPP basis.
Kerala Switchgear Sales Corporation SWITCH BOARD MANUFACTURERS & SUPPLIERS OF A-Z ELECTRICAL & ELECTRONIC ITEMS STOCKIST & SERVICE CENTRE FOR:
SWITCHGEARS-L & T, STANDARD, HAVELLS, LEGRAND, ABB, SIEMENS, HPL, MERLIN GERIN, GE, SCHNIDER z MEGAWIN TRANSFORMERS & ALL TYPES OF GENERATORS z CABLE JOINTING KITS z BELUK, MINILEC, NAGOBA-ALL TYPES OF PROTECTIVE RELAYS z MOTORS z SALZER MODULAR SWITCHES-ALL TYPES OF LIGHT FITTINGS z ELECTRON AUTOMATIC SOURCE CHANGEOVERS z CRC INDUSTRIAL CLEANERS 65-D D Vyapar Bhavan, K.P.Vallon Road, Kadavanthra, Kochi–682 020, Kerala Email:kssc_ekm@yahoo.com PH: 0484 3299320, 2312237 Fax; 3078265, Mob: 9846122088
J&M SWITCHGEAR SERVICE CENTRE
Service Centre
PH: 0484 3299320
AUTHORISED SERVICE CENTRE HT & LT SERVICE SOLUTION PROVIDER UNDERTAKING ELECTRICAL CONTRACTS, HARMONICS STUDY, POWER FACTOR, IMPROVEMENT STUDY, ENERGY AUDIT etc. SERVICE OF MOTOR STARTERS, ACBs, SWITCHES OF ALL MAKE & OTHER ELECTRONIC INSTRUMENTS, RETRO FITTING OF VCBs, ACBs & SWITCHES. D D Vyapar Bhavan, No. 65, Ground Floor, K.P.Vallon Road, Kadavanthra, Kochi–682 020
Ph: (O) 0484-3299320, (R) 0484-2306562, Mob: 9846122088 March 31-April 30, 2012
STOCK MARKET
21
“A fuel price rise will benefit the oil companies to raise their share prices. At the same time it will have an adverse impact on the shares in other sectors. If the next meeting of the RBI due for April third week reduces the bank interest rate it will have a bullish impact on the stock market. Passline News Service
T
he Indian stock market has been showing a low profile since the presentation of the Union budget as there are few favourable proposals in the budget to tone it up. The BSE Sensitive Index and NSE Nifty Index are closing at low levels. The Rajiv Gandhi Equity Savings Scheme (RGESS) proposed in the budget is perhaps the only silver lining for investors. A glance at the views of experts in the field gives us some hints. Mr Raghavan V of Nirmal Bang Securities says that if the petrol/diesel price is raised it will certainly result in the rate of inflation going up, which is now in control. “A fuel price rise will benefit the oil companies to raise their share prices. At the same time it will have an adverse impact on
Good prospects for investment under RGESS the shares in other sectors. If the next meeting of the RBI due for April third week reduces the bank interest rate it will have a bullish impact on the stock market. The RGESS is a silver lining in this scenario. As the scheme is in its nascent stage a lot of investment formalities have to be analysed and completed,” he says. There is a possibility of pruning the lock-in period of the scheme to one year instead of the three-year period proposed now. Simul-
taneously there will have some provisions to invest in 200 top shares. Mr Bhuvenendran of Hedge Equities asserts that the market is in a correction mode now. It may spurt in the coming days as foreign financial institutions (FIIs) are on a buying spree. But at the same time the political uncertainty and image of the rulers are the main drawbacks that dominate the market as the Government cannot frame any policy or rules now.
What is RGESS ? The 2012-13 budget has attracted hot reviews by analysts. Every budget provides some tax benefits to the common people linked with market returns. This time also the Finance Minister has offered a tax incentive for investment in stocks. The new RGES Scheme is meant to encourage flow of savings in financial instruments and improve the depths of the domestic capital market. The scheme has been introduced for the first time in the stock market. The specifications of this scheme are: New investors with income below Rs 10 lakh can buy stocks direct from the equity market up to Rs 50,000. The scheme will have a lock-in period for three years. You get an income tax deduction of 50% (Rs 25,000) for Rs 50,000. Hold this investment for three years to save a tax over and above the 80c deduction. This is not included in the 80c tax bracket. The amount of Rs 50,000 might sound very small but the Indian stock market will witness one of the huge inflows of capital into it. There are about two crore taxpayers in India who have incomes below Rs 10 lakh on the threshold. If every investor invests Rs 50,000 then almost Rs 1.5 lakh will flow into the stock market. Rs 1 lakh is the normal amount coming to the market after tax deduction at source relating to the 80c tax bracket and the
Rs 50,000 investment according to the RGESS. Above all the three-year lock-in period will result in a tax saving of about Rs 5,000 for the income category within Rs 10 lakh. This scheme will draw many retail investors to invest in it. Retail investors from the remote villages will find a better investment avenue than the many existing schemes available now. But the success of the scheme will depend upon how the brokers will pick up stock for the investors. Large cap should be the best for stock market performance. It should be wise to design the portfolio with a mixed bag of large, mid and small caps. Midcaps and small caps should do well since today’s midcaps are tomorrow’s large caps and small caps are tomorrow’s mid caps. It is expected that in the coming budgets the proposed limit will be raised to draw more savings into the stock market. One thing that should be kept in mind is that this investment scheme is not an equity-linked service scheme (ELSS). Those who do not yet have a depository (demat) account would be the target investors for RGESS. It is estimated that there are about 15 million permanent account number (PAN) holders with income between Rs 2 lakh and Rs 10 lakh who do not have a demat account at present. PASSLINE
March 31-April 30, 2012
He says that there are no budget proposals that may propel the stock market. There is no possibility of the bank interest rate coming down. Hence the market cannot expect a bullish trend now. But there are positive signs of a revamp of the market as the FIs’ buying mood may boost the market sentiments. As the governments are in the habit of announcing new projects and programmes industry and trade depend on banking and infrastructure. Hence, the shares of these two sectors may flourish in the prevailing market conditions. RGESS may beef up the retail investments in shares but details of the scheme are yet to come, he adds. Mr Ignatius Kulirani of Karvy Stock Broking says that initially the budget proposal seemed to be positive for the market. Later it turned negative. Actually political uncertainty is ruling over the market. The Government has no mandate of the people in view of the political imbroglio. The Government seems to be running on an income and expenditure account basis, he feels. No major policy decisions can be taken because the major political parties often pose a threat of pushing the Government to the verge of collapse. The bank interest rate may remain the same. The increase in service tax may result in all services becoming costly. This may lead to higher inflation. The prices of crude and diesel are likely to remain the same. So the stock market cannot be expected a stage a quantum jump immediately. As the FIs are on a buying mood the market can hope to be active in the coming days. RGESS may attract some retail investors to the market. But there is also uncertainty about its implementation. Its details are awaited.
ART WORLD
22 Art is an art here, nothing more than that. Financial crunch and lack of promotion and promoters force the artist to give up the profession and take up another job. Passline News Service
A
rt was once considered a talent or a hobby, but today it has become a profitable way of making money. Investing in art is the hottest trend prevailing worldwide and is turning into a fine art by itself. The case is however different in Kerala. Art is an art here, nothing more than that. Financial crunch and lack of promotion and promoters force the artist to give up the profession and take up another job. Here is an exception. Razi Rozario, a young artist from Kochi, stands out of the rest. Though a lawyer by profession, Rozario wants to be known as a painter. He is reckoned as the person who initiated the concept of ‘investing in art’ in the state. “Art for the masses is my dream. Art exceeds its value when it reaches the ordinary people. Investment in art is the best way to fulfil my dream,” says Rozario.
“The lifetime investment plan introduced is quite simple, like a fixed deposit. The common man can do it with ease”, says Rozario. Explaining his concept of an investment plan, the artist invites art lovers to invest in paintings. For example, if an art piece is worth Rs 2 lakh, the investor puts in Rs 1 lakh and when the painting is sold the investor gets back the invested amount, in addition to a minimum profit of Rs 50, 000. Apart from this, the investor also gets a profitable dividend from the royalty too. Whenever a painting exhibition is held, the names and details of investors will get published and this helps the artist and the investor to earn fame and money in a very short period. Film directors Siddique and Anwar Rasheed have invested Rs 1 lakh each in Rozario’s paintings, Ob-
Painting by Razi Rozario
The art of investment jects in the Mirror are Closer than They Appear and Eleventh Hour, respectively. For now he has targeted 50 paintings for investment, out of which 14 have already been booked. In Rozario’s art gallery all the transactions are
Razi Rozario
through bank and this ensures utmost transparency and security for the customers and investors. Being an acerbic artist, Rozario uses the internet and other social networking sites to the
maximum for his new attempt. The website of his gallery is an epitome of professionalism: it provides all the up-to-date information in detail about the paintings, investments and transactions. “At one time it was wrongly believed that art was not at all meant for money-making. But now a drastic change is visible in the mindset of both the artist and art lovers. Surely, by exploring the new possibilities of art, an artist can eke out a decent living from his/ her talent”, says the talented painter. Nowadays, even the common people are ready to spend substantial amounts on interior decoration of their houses and many house owners go for original art work. This helps art to
Let’s play with style Passline News Service
"Your style statement proclaims the real you”. The striking front note of Dssquare website itself proclaims what it is. Yes, Dssquare, a new venture from Kochi, helps you to add worldclass style to your dream abode. Once snooker tables and billiard tables used to be part of clubs or pubs only. But today they are becoming an essential component of modern houses. Dssquare pool table adds style and luxury to the living space.
the chirpy woman entrepreneur. Dssquare, her maiden venture, provides wooden snooker and billiard pool tables and imported American pool tables. Intergift Italy provides authorized Italian pool tables like Italian Cavachi for Dssquare. These pool tables are quite easy to lift and handle and that makes them more suitable for flats and houses. The tables are available in pure wood and
“A home reveals the identity of the resident and its interior makes a style statement”, says Mincy, proprietor of Dssquare. A housewife and a graduate in Business Administration, Mincy wanted to start something different. “Once we wanted a pool table. It was with great difficulty that I managed to get one from Bangalore. A thought then came to my mind, ‘Why can’t I start a new pool table business right here’? Now my dream has come true”, says
reach the common man. Interestingly, many senior artists have wholeheartedly welcomed this new trend. Refuting allegations that investment in painting is a ‘moneyminding’ business, Prof C S Jayaram, artist and curator, says, “This investment concept can bring a new life to art pieces and the artist. But some artistic sense is needed for investors to know more about this field. Owing to the recent boom in this sector, many painters and artists believe that the investment scheme can help a budding artist to surmount many hurdles.” But according to Suresh Koothuparambu, Vice-Chairman, Kerala Folklore Academy, investment in art is also risky and also profitable.
However, the recent boom in this investment sector shows that the new trend of ‘investment in art’ can fill the void that existed in the art market and challenges faced by artists. All you need is a little care and confidence. And thus a piece of art can definitely enhance both, the style of your house and the size of your pocket. What are you waiting for? Go get an artwork, adorn your life and abode.
processed wood. Though the real wooden table is a bit costlier, it gives an elegant traditional look and is more durable than any other material. The prices of pool tables start from Rs 65,000. “A drastic change is visible in the attitude of people here. Compared to last year they are ready to spend more bucks on leisure activities and interior decoration. We are really getting an impressive response from our customers”, says Mincy. Dssquare also has on its customer list many builders and schools, besides houses. It is now planning to make a signature project, a sports bar, at Kottayam, considered to be the first of its kind in Kerala. Though Dssquare is new, its ideas and approach are quite ma-
PASSLINE
To minimize the risk of bad investment, the investor should have a thorough knowledge of the profile of the artist and his/her previous works. “When buying, the emphasis should always be on the quality of the artwork, while keeping other aspects in mind”, he warns.
March 31-April 30, 2012
Mincy
ture. “We always maintain a professional and systematic approach in all our dealings”, says Thomas Thomas, who works for the marketing of Dssquare. Currently Dssquare has 12 people on its staff and has staff in all districts except Idukki and Wayanad. “We provide in-house service for all our customers. We never give them a chance to worry about their decision”, says Thomas. ‘Quality product at a reasonable price’ is Dssquare’s slogan. “We don’t want to compromise on quality. All we want is the satisfaction of our customers”. Its attitude and approach show it.
HEALTH CARE
23
Smart food for smart people Passline News Service
"T
o all those girls who think they’re fat for not being size 0: it’s not you who’s ugly, it’s society”. The words proclaim the attitude of Hollywood heartthrob Marilyn Monroe. But it seems today’s young generation is not ready to gulp the words in toto. Day by day, they want to look more beautiful, of course they want to stay healthy too.Fitness and health have become the mantra of today’s youth.
can ward off cardiovascular diseases. The antioxidants present in oat meal can also curb malicious diseases like cancer. It seems that the younger generation is quite aware of the significance of oats and grains. “I normally prefer porridge or oats for breakfast. The food is not at all heavy and keeps us energetic till noon. Of course it is easy to make”, says Remya, a young software engineer.
Compared to the past they are vigilant and are concerned about their health. Thee are prepared to follow a strict diet to balance their BMR (body mass ratio) in track. However, they don’t have enough time in their routine to eat a full meal or a sumptuous dinner. Neither are they interested in such things. So they make a dramatic switchover to light snacks or the socalled ‘smart food’. The smart food list includes oats, porridge, corn flakes and many low-carbohydrate products.It is scientifically proved that an oat meal can slash high blood pressure and cholesterol levels in your body. It contains serum cholesterol levels which
The mushrooming of obese clinics and smart food advertisement shows its popularity among the public. Even the manufacturers are trying to add more flavours and tastes to the traditional oats. “Being a professional, I may have to work for more than 16 hours a day. A heavy meal can make me sleepy and sombre and adversely affecting my work too. So I always stick to light food”, says Ram, a TCS employee. According to researchers, having an unusually heavy meal does not just add calories, it might trigger a heart attack in cardiac patients.Normally Indians are quite infamous about their
A new way to care for your joints A
yurveda is the scientific way to a healthy life. It is today considered to be the best complementary and alternative system of treatment for many chronic ailments. Owing to its importance in human life, the number of people choosing this traditional system is increasing day by day.
sule form, is prepared from the extracts of herbal plants like Kurunthotti, Amukkuram and Sathavari and has been found to be very effective.
Joint pain normally occurs because of inflammation around the joints, damage to the joint from disease, daily wear and tear of joints, muscles strain The ISO 9000-2008- and GMP-cer- caused by forceful movement against tified Manara Bio Pharma is an ayurveda stiff, painful joints and fatigue. Manara centre which constantly experiments on Bio Pharma claims that the Joint Free different aspects of the syscapsules can rebuild the tem. Its excellence in recartilage and its lubricant search and manufacturing content makes the joints infrastructure makes it a more flexible than before. pioneer in the industry. Mr Researches and many M S Anaz is the Managing patients’ personal experiPartner of Manara Bio ence also show that the Pharma. He has been in medicine has the power the field for the last 10 to reduce the inflammayears and has a rich expetion and swelling in joints, M S Anaz rience of manufacturing varisays Manara Bio ous kinds of herbal mediPharma. The capsule cines. Dr Ramadevi, one of the other also gives quick relief to acute joint pain partners of Manara Bio Pharma, is a to patients of any age. Unlike other retired Senior Medical Officer and her medicines, Joint Free is purely made skills and long and rich experience have from herbal plants and oils and so is helped her to introduce new herbal medi- completely free from side effects. cines for many grave diseases. Those suffering from joint pain are ‘Joint Free is one such miraculous invention of hers after research lasting eight years. Joint Free is mainly used for arthritis. The medicine, in the cap-
advised to take two capsules twice daily. Regular use of Joint Free can prevent the condition of osteoarthritis, says Manara Bio Pharma. PASSLINE
‘heavy’ food habits. Once they were notorious for the consumption of high fatty butter, ghee, sweet and rice products. One could easily identify whether they were from South India or North India.”Rice is considered a staple food here. Since rice contains high carbohydrate content, it can make a person bulky or fatty”, says Anjana, a dietician. But now most of them keep rice away from their diet. Though it brings energy, it can make you out of shape, says Anjana. Here comes the importance of light but highly nutritious snacks like oats. A number of diet programmes also include oats and porridge in their menu. The insoluble fibre contents in these ‘smart foods’ make it a healthy heart diet.
Smart food with regular exercise can get rid of the excess flabby skin and you can sculpt your body according to your wish. “We prescribe diet food according to the blood group of an individual. The food habits and healthy body differ from person to person and a well-toned diet can help to trim the body very well”, says Kamal of Jaison’s Fitness Center. Staying healthy and fit can be termed an art. By adding proportionate amounts of ingredients, we are sculpting our body. And of course a welltoned body is a person’s wealth. So whenever you gobble down your favourite junk food, remember one thing: “Stay fit and stay healthy make a man wealthy”.
Gene in fat can prevent diabetes A
gene that could help protect against diabetes has been found in fat cells, scientists say.It shows that the body’s ability to regulate blood sugar can actually be improved by the presence of body fat, according to US researchers.Professor Ulf Smith, President of the European Association for the Study of Diabetes, called the finding ‘really exciting’.The gene resists type 2 diabetes by converting glucose sugar into fatty acids and boosting sensitivity to insulin, which regulates the blood sugar. For most obese people, levels of sugar rise too much because it is prevented from entering fat cells.But a team from Boston in the US found that if they increased levels of a ‘glucose transporter’ gene in obese mice, it allowed more sugar into their fat cells and protected against the condition.Sugar in fat cells triggered a response from the gene, called ChREBP, that regulated insulin sensitivity throughout the body, according to the Daily Express. Nearly three million people in the UK suffer from diabetes, and a further 8,50,000 have it without knowing.Most have type 2 diabetes, with around 2.5million suffering from the illness, which can cause strokes, heart attacks and blindness.It normally develops during middle age from obesity or an unhealthy lifestyle. “The general concept that all fat is bad is not true,” said the lead researcher at Harvard Medical School, Dr Mark Herman. March 31-April 30, 2012
NEWS
24
KMML posts all time high turnover and profit KMML has achieved all time record turnover and profit of Rs 613 crore and Rs 153 crore respectively for the year 2011-12. This was accomplished due to improved sales realization and higher margin for its main product Titanium Dioxide. The product diversification plan and higher capacity utilization in its mineral Separation Unit also enabled the company to achieve the record performance. The annual production and sales of one of the byproducts Zircon from Mineral Separation Unit also reached record levels at 5213 MT and 5114 MT respectively. The sale of another intermediate product, Titanium Tetrachloride (Ticl4) at 1893 MT was also highest ever so far. The previous record of profit was Rs 128.59 crore achieved in the year 2000-2001. The proactive support from the government and professional environment within the organization enabled the state public sector undertaking to come out with consistently good performance. Though availability of raw material had been a constraint, higher
efficiency in production and prudential financial management have helped in maintaining higher margins. During this financial year, KMML could commission its 500 TPD Titanium Sponge project at Chavara in a joint venture with Vikram Sarabhai Space Centre and Defense Metallurgical Research Laboratory. India becomes the 7th nation in the world with the technology to produce Titanium Sponge, with the commissioning of this plant. Further, the company recently bagged the award for the best PSU from the Government of Kerala for its performance during the previous year 2010-11. KMML has plans for setting up Magnesium Recovery Facilities in the Titanium Sponge plant. The proposal to increase the capacity of the Titanium Sponge plant to 1000 TPA is also in the pipeline. Several companies including the Central public sector undertaking MIDHANI have shown interest for collaboration.
Mithun Chittilappilly
V Ramachandran
Mithun Chittilappilly MD of V-Guard In a recent reshuffle at the top echelons of electronics and electrical giant V-Guard Industries Limited, Mr Kochouseph Chittilappilly has taken charge as Vice-Chairman and his younger son, Mr Mithun Chittilappilly, as Managing Director with effect from April 2. Mr V Ramachandran is the Director of Marketing Strategy of V-Guard. Mr Ramachandran joined V-Guard with an experience of 25 years in globally renowned companies like L G Electronics and Hindustan Unilever Limited. When he relinquished office he was serving as the South-West Asian Zone Director and Chief Strategy Officer of L G Electronics. The Vice-Chairman said that the diverse knowledge of the global market and long experience of Mr Ramachandran would elevate V-Guard to the next level of development.
Statewise recasting will do good From page 15
in a big way, and is a major resource for industrial development. IR looks like a leviathan and is a bureaucratic organization, presided over by a Cabinet Minister, supported by one or two Ministers of State, and then the Railway Board, its Chairman and half a dozen board members etc, etc and all connected up in series and in parallel. There are 15 zonal railways, each administered by a General Manger, who looks after the construction and operation of rail lines and related systems of the zone. The nature and number of complaints with regard to their performance indicate that they will perform far far better if reorganized statewise as in the case of P&T, BSNL, DD, CEA and Electricity Boards etc and several other Federal Government functions.
form will bring the administration and management of our massive on-rail resources closer to the people and its elected governments at the state as well as lower levels.
Production units under the General Managers, public sector units like CONCOR, CRIS, IRCON, IRCTC, RITES and IRFC as well as RDSO, the R&D organization of IR, should con-
Railway Ministers, as a rule, play populist games and try to do something extra for their native states. Mamata was no exemption, despite her tall talk on Vision 2020. Foreign experts and consultants have made dozens of proposals for reforming IR, as part of restructuring the national economy. However, they remained on paper, like the Vision 2020. The only agenda that got implemented related to staff reduction. As a result, IR suffers from under-staffing today in terms of quality as well as quantity: Present staff strength is around 14 lakh, two to three lakh less than two decades ago. Last year 80,000 new hands were recruited anew, and the current budget targets 1,00,000.
It will be even better if these statewise organizations are then converted into public sector undertakings with equal shareholding by IR on behalf of the Central Government and then by the State Governments concerned, as in the case of Delhi or Chennai Metro. A full-fledged Railway Minister and a skeletal rail department in every state for servicing and supporting this joint enterprise will greatly enhance the policy planning capacity at the state level with regard to rail development. The states are totally lacking in this capability as of now. This sort of basic rePASSLINE
March 31-April 30, 2012
tinue their autonomous existence as on now and they should expand and diversify as necessary. The Central Government and the Railway Board will be better placed to prioritize and monitor the work programmes of these more important strategic organizations from a national perspective. They could effectively monitor the performance of the railways at the state level, but will be relieved from attending to minor responsibilities related to their day-today operations. IR will enter a phase of centralized policy-making and decentralized administration: It has all the systems and procedures as well as checks and balances needed for this transformation quickly and effectively. No external consultancy, Indian or foreign, will be needed for the purpose. State governments will be only happy to share the responsibility of rail development in the country. The Central Government could play its visionary role far more effectively. Business will be rewarded with a world-class form of rail infrastructure. Workers and trade unions may not raise objections so long as their rights and perks are protected. What is needed is a change in our mindset to accept the participation of state governments in the management of IR. That sort of participation will be far more desirable, practical, and productive than all sorts of PPP models that are being designed and contemplated.
25
Federal Bank launches IMPS Federal Bank has been extending IMPS (interbank mobile payment service), a real-time funds transfer facility, to its internet banking customers from March 20, 2012. This facility is offered in association with NPCI (National Payment Corporation of India). Presently, a majority of interbank funds transfer transactions are occurring through the NEFT mechanism. Under NEFT, the transactions are processed and settled in batches from 9 am to 7 pm, and hence are not real-time and also had the constraint of working hours. In the scheme launched by Federal Bank, a customer can transfer funds instantaneously through internet banking from his/her bank account to any another bank account which comes under IMPS framework. A customer doesn’t require beneficiary IFSC code and account number. Here customers can use FedNet as a channel for accessing their bank accounts and transferring funds. The service is offered 24x7x365, ie without any restriction on timings. The customer who wants to transfer funds has to register for internet banking facility and update his/her mobile number with the bank. They can select Transfer Funds>>IMPS Fund Transfer option from FedNet. A beneficiary who wishes to receive funds should have Mobile Money Identifier (MMID) for receiving funds through
IMPS. MMID is a seven- digit number issued by the bank. A customer can link his/her various accounts with one mobile number and will receive separate MMIDs for each account. The combination of mobile number and MMID
The new branch of Federal Bank at Vallarpadam in Kochi is being inaugurated by Mr K K Krishnadas, CEO, DP World, and Rev Fr Thomas Pulikkal, Vicar, Vallarpadam Basilica. Mr Ummen Benchamin, General Manager, Federal Bank; Mr Baby Abraham, Assistant Manager; Mr A K Divakaran, President, Mulavukad Grama Panchayat; and Mr Satheesh Kumar, Branch Manager; are also seen.
will be unique. For Federal Bank customers, MMID will be 9049+last three digits of the account number. For example, the MMID of a savings account ******00301404 would be 9049404. Federal Bank customers can retrieve MMID as SMS by sending a message MMID to 9895088888 or 5676762. All that is required is that the remitter should enter the beneficiary’s
'In Service lies Success' of KSSC Kerala Switchgear Sales Corporation (KSSC), dealer in switchgears, has a very good reputation in the power distribution industry. The firm mainly provides varieties of all high- and low-tension switchgears. For more than a decade KSSC has catered to the requirements of government, semi-government and private institutions, buildings and flats and commercial complexes. It is also famous for its expertise in panel building. The expert team in KSSC designs and manufactures special panels according to customer requirements. “In Service lies Success” is the slogan of KSSC. Its success she proof. Here customers can choose a variety of items under the same category with different price tags. The firm is an authorized distributor of ABB; Siemens, C & S, Schinder, Havells, Standard and BCH. KSSC is also geared up to supply all electrical luminaries and also HT and LT cables and wires.
Mohanan
mobile number and MMID along with the amount to be transferred. Both the remitter and the beneficiary will receive SMS confirmation of the transaction. The transactions will be routed through NPCI. Customers can transfer funds
Panel building is another area of expertise of KSSC, which even designs and manufactures special panels according to the requirements of customers. All items of equipment are subject to standard work checks and inspections throughout and to a final test in accordance with the standard procedures. The committed service team provides smooth and efficient service to customers.
With an established name, KSSC and its service centre render all electrical and electronic services for industrial and commercial establishments.”Our motto is to render user-friendly high-quality products and maximum service for the products”, says Mr Mohanan, Managing Director. Mr Mohanan is a former L&T professional having about two decades of service in that company and 35 years of experience in the electrical field. He also worked with Wilson and Company Ltd, a British firm, for about six years and was with Dorman Smith Ltd, England, now Legrand (I) Pvt Ltd, for some nine years. KSSC is located on the premises of DD Vyapar Bhavan on K P Vallon Road, Kadavanthra, Kochi. PASSLINE
up to Rs 50,000 daily and up to Rs 2,00,000 in a month. Wins international award: Federal Bank has won the 2012 ACI Excellence Award in the Payments Transformation category. The ACI Excellence Awards recognize successful and innovative use of ACI products in today’s rapidly changing markets. The award is in recognition of the
bank’s initiatives in transforming person-to-person payments in India. ACI Worldwide is a US-based company offering various payment system solutions across the globe. Federal Bank has undertaken two distinct but related projects to improve access to banking services across the country, and to support the move away from cash towards greater use of electronic payment methods. The first project is a new personal payments service called Visa Fast Funds that allows Federal Bank Visa Debit cardholders to receive remittances almost instantly. Federal Bank is the first bank in India and the second in the Asia Pacific Region to activate this service with Visa and in ACI’s BASE24® software. The service is highly adaptable across branch, website, ATM/kiosk and mobile channels, and is expected to drive a new generation of personal payment services on debit cards, including mobile money transfers, cross-border remittances, electronic bill payments and prepaid reloads. The second project is Aadhaar (UID)-based authentication for payments. The payment solution for Aadhaar developed by Federal Bank, ACI and Mastercard will enable Aadhaar holders to perform payment transactions using their UID numbers with biometric authentication. This project is under pilot phase now.
A peep at criminality of humans A ndrew Pappachen emigrated to the United States in 1973 from Andrew Pappachen Kerala at the age of 25. Since then he has been living in the US. During his 25 years of life in India as a young man and the rest in the US, Andrew faced many challenges and was always trying to reason with various incidents and opportunities. Growing up as one of the five children in a village close to Kottayam town during the 1950s and 1960s, he had unique experiences in his childhood and youth. Andrew finds life interesting, enjoyable, and challenging, yet he is disturbed by people’s criminal tendencies and evil behaviour. He was always trying to find the reason why people get into these negative forces. Often, the reason for criminal behaviour is greed, hatred, anger, jealousy, doubts and sometimes poverty. But he has seen criminal behaviour among drug addicts and alcoholics. Andrew’s new book, Rays of Light from the Darkness of a Prison Cell, is a narration of these experiences and his observations of human behaviour through the years. What he concludes is that most of the time, a criminal is created during his or her childhood. A person’s behaviour, habits, thinking patterns and character are moulded during his/her childhood, through the influence of parents, teachers and others, he says. Andrew also believes that a person can change if opportunity is given by being with good people in good surroundings. Andrew, who has a master’s degree in Environmental Engineering from Stevens Institute of Technology, New Jersey, and a master’s degree in Chemistry from Kerala University, currently works as the Director of Operations of a utility operating company in the US. He has written extensively in various magazines in India on environmental issues and published three books through AuthorHouse: A Journey through Generations, an autobiography, and two novels, Secrets of Passion and Love with the Ghost, using the pseudonym Andreos. Andrew is a community activist involved in various community organizations. March 31-April 30, 2012
26 The purpose of insurance is indemnification (placing the insured in the same financial position as he was prior to the accident) for those who suffer unexpected losses. These unfortunate businesses and families are restored or at least moved closer to their former economic position. Society also gains because these persons are restored to production, tax revenues are increased and welfare payments are reduced. But in practice, this purpose is not achieved in some cases. Insurance companies sometimes “deny a claim or cut down the claim amount” just to see if they can get away with it. These they get done mostly with the help of surveyors in property insurance and in mediclaims by third party administrators. Insurance Regulatory and Development Authority (IRDA) has realized that the expertise of the insurance broking industry in matters of claim settlement can be utilized by policy holders. As a consequence, holders of policies where the risk cover is relatively low are at an advantage when dealing with insurance companies on account of
AIMS Insurance Broking for claim consultancy services symmetry of knowledge and information from the expertise and competent services of insurance brokers. And the authority has taken steps to see that the interests of the holders of the polices are protected. IRDA is of the view that it will be in the interest of the policy holders to provide an avenue to obtain more competent advice from insurance brokers in the matter of settlement of claims, which was not available hitherto. Vide Circular IRDA/ BRK/CIR/GLD/270/12/ 2011dated December 7, 2011, insurance brokers are allowed to offer claim consultancy up to Rs 1 crore for life as well as nonlife insurance policies, subject to certain conditions.
It is in the light of these that Aims Insurance Broking Pvt Ltd, Thrissur, has entered the area to serve policy holders in getting their claims settled effectively. To get its services, they are to give the firm a written mandate to represent them with the insurance company concerned for the claim for which consultancy is required. The client has only to pay a reasonable fee. The firm has competent, attentive support staff. Its Claims Department is headed by Mr A K Mani, who is technically sound both in engineering and insurance disciplines. A graduate in Mechanical Engineering, he is a Certified Marine Engineer, Chartered Engineer and Approved Valuer
CII plea to reconsider KSEB proposal for power cut on industries The Government of Kerala’s decision to agree to the KSEB proposal for a power restriction of 20% on HT & EHT customers has been termed as irrational and unfavorable by the industries in the State. There is a widespread demand for revoking this proposal of power restrictions as this will deal a severe blow to many of the industries who are already reeling under the High Tariff rates and unfavorable Business Environment. Confederation of Indian Industry (CII) on behalf of the Industries Sector will be writing and appealing to the Government of Kerala, not to enforce this proposal at present and allow some time to come up with suitable alternate measures to counter the current scenario of Power
Shortage in the State. Mr V K Mathews, Chairman, CII Kerala & Executive Chairman, The IBS Group, believes that the current power restrictions will have a dampening impact on the industries and will in turn hamper growth and expansion plans in the State. Mr Mathews also opined that with the upcoming ‘Emerging Kerala 2012’, which has been projected to attract investments to the State, such power cuts would send a wrong signal to potential Investors, willing to invest in Kerala. The Industrial Sector in the State is of the opinion that the current situation of electricity shortage in the State is definitely a manageable one without resorting to Power Restric-
tions. According to Mr Umang Patodia, Chairman, Taskforce on Power, CII Kerala & Managing Director, Patspin India Ltd, higher energy and requirement during March is usual. The daily energy consumption which crossed 63 million units during the time of the SSLC and Plus-2 exams has gone down considerably to 58 million units. In a nutshell, CII opines that a 20% Power restriction is not required, if at all, the Government has to impose a restriction, it has to be limited to 5% for April and May 2012 only. This will be the most optimum solution for the issue, favouring the industrial sector in the State as well as reducing the power requirement for the KSEB.
Mr Joseph Maliakkal, Managing Partner of Malichem Industries, manufacturers of leading homecare brands Suchinol, Aroma etc, receiving the Safety Award 2011 in the chemical industries category from Mr A A Azeez, MLA, at Kollam recently. The award function was inaugurated by Mr Shibu Baby John, Minister of Labour, and organized by the Kerala State Department of Factoriesand Boilers. PASSLINE
and is qualified in general insurance and has more than 25 years’ experience in engineering-related disciplines, seven years’ experience as surveyor and loss assessor and three years’ experience in claims management in the insurance broking industry. Mr Mani is assisted by Mr Mohan who is a graduate in law. The firm is capable of interpreting policy terms and conditions in the right direction, assisting the client in preparation for loss assessment, ie assisting in claim documentation, loss minimization etc. It is committed to getting their reasonable expectations in the matter of insurance claims. It is its clients’ advocates and fighters in protecting their reasonable expectations. Aims gives consultancy services in life and general insurance. Mr Viswanathan Odatt is its Director, who is available at 9895768333 (phone) and Odatt@aimsinsurance.in (email). Mr Mani can be contacted at 9567999419 (phone) and mani@aimsinsurance.in (email).
Telecom tower market may grow by 30% Netscribes (India) Pvt Ltd, a knowledge consulting solutions company, has released its report ‘Telecom Tower in India 2012’. The report says the Indian telecom sector is the third largest in the world and the second largest among Asia’s emerging economies. Amongst the 811.6m wireless subscribers in India, 66% reside in urban areas and 34% in rural areas. With low penetration in the rural areas which accounts for nearly 70% of the country’s total population, there remains a huge potential there. Rising penetration of telecom services and future introduction of a newer-generation wireless network will require more telecom tower deployment across the country. The telecom infrastructure primarily consists of telecom tower operation and it takes up 60%-65% of the total infrastructure deployment and management cost. “If we ignore power and fuel expenses, telecom tower generates roughly Rs 180-Rs 200 bn of revenues annually, in the present market scenario”, says Mr Kalyan Banga, Product Manager at Netscribes. The report covers an overview of the telecom industry which provides a basic idea of the state of the overall industry, telecom tower vertical’s position in it, the types of telecom towers and a pictorial representation of basic telecom network infrastructure. The ‘Market Overview’ section elaborates the global and domestic market state of the telecom tower business. It is accompanied by a plethora of statistical information about wireless tower in the global scenario as well as in India such as global trend, domestic telecom tower demand or requirements, revenue generated from telecom towers, state of cell tower orientation in major countries and other related information. The India section also elaborates on the numbers of telecom towers in various states, market share of major telecom tower companies, telecom tower business model and the major Government bodies. The ‘Scope in India’ section where various potential areas for telecom towers in India are elaborated discusses specific aspects such as Government policy and rural opportunity with information on their state and future prospect. It deals with types of infrastructure sharing stressing the two major types of sharing prevalent across the globe. It also focuses on major benefits of telecom infrastructure sharing. It is explained with the help of tower profitability matrix along with an example, details regarding the USO fund scheme for infrastructure sharing and it scope of work. SWOT analysis of the infrastructure sharing has been presented to further strengthen the understanding of the pros and cons of it. The section also elaborates on various financial and operational incentives available in the industry along with beneficiary initiatives taken by the Telecom Regulatory Authority of India (TRAI). The ‘Drivers & Challenges’ section elaborates the major furtherance of and impediments to the telecom towers market in India.
March 31-April 30, 2012
27 The Germans have found a way to beat the stress and pressures of routine urban life and stay healthy—embrace the authentic ayurveda of Kerala. More and more Germans over the age of 50 today prefer the ancient Indian system of medicine to keep them away from stress and to help lead a relaxed life. Recently, leading figures from the health sector of Germany took part in a workshop, titled ‘Ayurveda: Wellness or Medicine’, in Munich. Organized by Kerala Tourism, the workshop was aimed at helping the people of Germany understand more about treatment and therapy under the ayurvedic system. Experts in ayurveda talked to delegates from leading newspapers, women’s magazines and lifestyle and wellness publications as well as tour operators and travel agencies focusing on health and wellness. The participants also included representatives from health and fitness clubs and associations. “We presented the ayurveda of Kerala to the German audience as there is increasing demand for health and wellness among the people in Germany,” said Kerala Tourism Minister A P Anil Kumar.
Bertolucci came to Kerala for ayurvedic treatment some time ago for his chronic back ailment. “The promotional campaign on ayurveda is a boost to Kerala’s tourism sector in Germany,” the Tourism Director said. The Munich workshop also witnessed demonstrations on various subjects like ayurveda massage, ayurveda cooking and ayurveda oils.
A section of the delegates attending the workshop
Ayurveda attracts Germans “Our data shows that the highest number of those coming for ayurveda treatment to Kerala from abroad is from Germany,” said Ms Rani George, Kerala Tourism Director. The demand for ayurveda treatment in Germany comes from people above 50, who prefer relaxation and a stressfree life to the pressures in a routine city life. Europe is the fastest-ageing developed region in the world. This trend is due to the declining birth and death rates. Hence there is astounding growth for ayurveda in the above-
50-year category in Germany, the largest above-50 people in Europe at 33 million. A growing number of foreign and domestic tourists arriving in Kerala today spend their time in ayurveda therapy during their holidays. The number of tourists visiting the state only for ayurveda treatment is also on the rise. A lot of tourists look for stress relief while many check into ayurveda treatment resorts to receive long-term therapy for various illnesses. Celebrated Italian director Bernardo
Mr Mark Rosenberg, Chief Executive Officer of the European Ayurveda Academy, Dr Detlef Grunert, ayurveda practitioner and an expert in sports medicine, and Ms Sylvie Peipe, a medical ethnologist and ayurveda therapist, were among the panel of experts at the workshop who also included ayurveda doctors in Germany like Ellil Jeevan and Prabha Burkhard. As part of ayurveda promotion, Kerala Tourism will also participate in two international wellness fairs in Germany next month and tie up with online shops in a marketing campaign to reach customers. There will also be an advertisement blitz in the print media and outdoor locations like metro stations.
Kerala Tourism bags Golden Gate award In yet another global recognition to its trail-blazing brand promotions, Kerala Tourism recently bagged the prestigious Golden Gate award at the world’s leading travel show, ITB Berlin. Indian Chamber of Commerce President Prakash James speaking at the seminar on trade facilitation. Also seen are Mr Nishesh Shah, Vice-President, Mr V S Pradeep, Vice-Chairman, FFFAI, Mr Shashank Priya, Department of Commerce, Government of India, Mr C P Jain, FICCI Executive Committee Member, Mr Rajiv Arora, JDGFT, New Delhi, Mr Adbul Azeez, President, CCHAA, and Mr Manab Majundar, Assistant Secretary-General, FICCI.
Workshop on trade facilitation International competition is getting intense and India needs to improve the efficiency in expediting the flow of goods at minimum time and cost, according to Mr Shashank Priya, Professor, Centre for WTO Studies, Government of India. “With 12 major seaports, 187 minor ports, 36 functional international airports, 155 inland container depots (ICDs) and container freight stations (CFSs) and another 100 being developed, India has one of the largest numbers of customs clearing points in the world,” he said at a seminar organized by the Indian Chamber of Commerce (ICC), Kochi, and Federation of Indian Chambers of Commerce and Industry (FICCI), New Delhi, in Kochi recently. The objective of the workshop was to have consultation with the stakeholders including exporters/importers, freight forwarders, customs house agents (CHAs), ports authorities, shipping agencies etc to assess various procedural problems faced by them, which increase the turnaround time and transaction costs for exports/imports. The workshop also provided a forum for interaction between policy-makers and the business community to address various aspects of trade facilitation. Dr Rajiv Arora, Joint Director-General of Foreign Trade, Mr V S Pradeep, Vice-Chairman, Federation of Freight Forwarders Association in India, Mr Manab Majumdar, FICCI Assistant Secretary General, Mr A A Abdul Azeez, Cochin Custom House Agents Association President, Mr P L Prakash James, Indian Chamber President, Mr Nishesh Shah, Vice-President, and Mr S Ramakrishnan, Secretary, also spoke. Mr Krishnakumar, Deputy Chairman, Cochin Port Trust, was among those who participated in the well-attended seminar.
ciation (PATA) international awards. “It is another big endorsement at the global level of our efforts to further promote Brand Kerala in the world tourism circuit. The Government has
key global markets and participation in the festivals. We received a warm response to the road shows in Berlin in January 2012. Kerala Tourism is also organizng road shows in Milan, Madrid and London,’’
Kerala Tourism’s ‘Your Moment is Waiting’ won the Silver Prize in the Print Campaign Category at the Das Golden Stadttor (Golden Gate) Awards that honour the best creatives of the global tourism industry every year. The gold in the category went to Malaysia. Ms Rani George, Director of Kerala Tourism, who hed the delegation to the travel festival, received the award. The print campaign was conceptualized and created by Stark Communications Pvt Ltd, the creative partner of Kerala Tourism. Ahead of the print campaign, the three-minute ad film with the same title also conceptualized and created by Stark, went on to win over a dozen prestigious awards including three gold medals at the Pacific Asia Travel Asso-
Kerala Tourism Director Rani George giving a presentation at the ayurveda workshop in Munich, Germany
launched an intensive drive to attract quality travellers from niche markets and increase the share of foreign tourism receipts. The award clearly reiterates that our efforts are right on the track,’’ said Mr A P Anil Kumar, Tourism Minister. “Our campaign is powerfully backed up by a number of tools like road shows in the
said Mr T K Manoj Kumar, Secretary, Kerala Tourism. “The Berlin event draws up the who’s who of the world tourism industry and the Golden City Gate awards pick up the best creatives in the industry. We are extremely happy to be on the honours roster here also, this time making a mark for our print campaign,’’ said Ms Rani George.
Best of India Jewellery Show T he second edition of Best of India Jewellery Show (BIJS) 2012, Bangalore’s finest consumer jewellery exhibition, which is a joint initiative of The Art of Jewellery and the Jewellers’ Association Bengaluru, is to be held from April 6-9 at Palace Grounds, Bangalore. The show will display an array of exquisite daily wear and designer jewellery from leading jewellery retailers of PASSLINE
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South India, promising a whole new shopping experience for discerning customers. Like last year, this time too the show will be held at the very beginning of the jewellery-buying season starting with Akshay Tritiya and followed by the wedding months. The consumer has the opportunity to choose from over 100+ top-notch and best brands all under one roof.
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‘Tremendous scope for French-Kerala JVs’ The French Consular General, Mr Pierre Fournier, has said that there is tremendous scope for developing mutually beneficial economic relationship between France and Kerala. On a visit to Thiruvananthapuram, Mr Fourneir called on the state Chief Secretary and Industries Secretary Alkesh Sharma recently and said that good scope existed for business tie-ups in areas such as manufacturing, small and medium enterprises, IT, food and agro, environment and life sciences. The state government has decided to use the inputs provided by the Consular General to identify potential investors in its Global Connect Emerging Kerala event scheduled from September 12 to 14. The Consular General promised to work closely with the state government in attracting French businessmen to Emerging Kerala.
The thrust sectors identified by the Government for Emerging Kerala have immense scope of attracting investors from France. The possibility of French investment in sectors such as energy, transportation, water treatment and waste management in Kerala could be explored, Mr Fourner said. These sectors are also the focus for the Government of Kerala in the context of Emerging Kerala, the Consul General said. One-third of French investment in India was concentrated in Chennai, he said. India and France were cooperating in various areas such as nuclear energy and defence, he said. The visit of the Consular General is a forerunner to further meets including a high-level delegation from France to the state scheduled later this year.
V K Mathews CII Kerala Chairman, C J George Vice-Chairman M r V K Mathews, Executive Chairman, IBS Software Services Pvt Ltd, has been elected Chairman of the CII Kerala State Council for 201213. Mr C J George, Managing Director, Geojit Financial Management Services Ltd, is the Vice-Chairman. Mr Mathews has guided the IBS Group from a modest beginning in 1997 into a multinational organization with over 2,000 employees operating from 10 locations worldwide. A Master’s degree holder in V K Mathews Aeronautical Engineering from IIT Kanpur, he is considered a thought leader in the global aviation industry and holds several important posts in Government
agencies, academic institutions and trade bodies in India. Mr George has been closely associated with CII at the state level. Holding a Master’s in Commerce he is a Certified Financial Planner (CFP). He founded Geojit Financial Management Services Ltd in 1987. In 2007, global banking major BNP Paribas joined the company as partner. Currently, he holds the directorship of Geojit BNP Paribas and other companies in the group which C J George spreads across India and the Middle East and several important positions in different national and international financial and trade bodies.
‘Made in Kerala 2012’ ComGuard in Indian market ComGuard,
a part of Spectrum Group, Dubai, and a leading valueadded distributor (VAD) of global leading networking and security products across the Middle East and Africa, has entered the Indian market. Mr Ajay Singh Chauhan, CEO, Spectrum Group, says: “After having strong presence in the MiddleEast and African countries, we are focusing now on the Indian IT security market. The Indian IT security industry is moving strongly, and is expected to continue scoring solid growth in near future. With the robust growth of India’s emerging SMB segment, the demand for IT security solutions will go a long way.” Mr George Jason, Vice-President, ComGuard, says, “Our objective for the Indian market will be to mirror the success of our other regions. Our focus will be to build a well-informed eco-system amongst our partners and our clients. This will add immense value to all involved.” “ComGuard in India wants to emerge as a niche network and security technology distributor. With a product portfolio that is studded with world-class vendors like Acunetix, Array Networks, BlueCatNetworks, Beyond Trust, Brovis, EC Council, Infowatch, iolo, MeruNet-works and Seclore. ComGuard has supported project requirements of leading enterprises in the region. Leveraging on in-house technical support resources and strong channel support, ComGuard has been recognized for its dedicated and sustained efforts to add value to its distribution role.”
‘Made in Kerala’, a first-of-its-kind initiative of the Confederation of Indian Industry (CII) Kerala to promote and develop indigenous industries and services industry providers from the state, was inaugurated in Kochi on March 10 last. The initiative was designed to promote Brand Kerala at both national and international levels. The ‘Made in Kerala’ label represented a spectrum of related values including green, non-polluting, ecofriendly, organic, good for health, balanced, participative (employees and community), compliant with the laws of the land, transparent, without child labour and without discrimination based on age, gender, caste and religion.
growth that benefitted all stakeholders. The conference explored the feasibility of such a construct, when a state articulated the foundational principles for its economic growth and the steps undertaken by the brand to transform into a concrete symbol of the economic aspirations of the people and the state. The conference, held in Kochi, in-
dressed by Mr G Vijayaraghavan and Mr C P John, members of the state Planning Board; Mr Jose Dominic, Managing Director, CGH Earth; Mr V K Mathews, Executive Chairman, IBS Group and CII Kerala Chairman-elect; Dr Pulapre Balakrishnan, Director, Centre For Development Studies; Mr C J George, Managing Director, Geojit
The conference highlighted the ‘Made in Kerala’ label by focusing on brands and services that are exclusive to Kerala—those that have been started in the state but have grown to fame across borders. The objective of ‘Made Mr Alkesh Kumar Sharma, Industries Secretary and KSIDC Managing Director, inaugurating ‘Made in Kerala in Kerala’ was to represent 2012’ organized by CII at Kochi. Mr Sujith Haridas, Regional Director, CII Southern Region; Mr T T Asok, a unique competitive ad- Chairman, CII Southern Region and Managing Director, Taylor Rubber Pvt Ltd; Mr Jose Dominic, Chairman, CII vantage that attracts in- Kerala State Council and Director, Escapade Resorts Pvt Ltd; Mr Rajiv Vasudevan, founder and Chief Executive Officer, AyurVAID Hospital; and Mr V K Mathews, Chairman-elect, CII Kerala State Council and Executive vestment in select, high- Chairman, IBS Group; are also seen. value sectors generating employment in both the Financial Management Services Ltd manufacturing and services sectors. It cluded two plenary sessions, ‘Pioneer- and CII Kerala Vice-Chairman-elect; Mr was also viewed as a brand nonpareil ing Solutions: Made in Kerala’, and T K Jose, Chairman, Coconut Developthat served as a springboard for a new ‘World-class: Made in Kerala’ and a ment Board; Mr Narayanan Unny, Presiphase of industrialization of Kerala that valedictory session. dent, Navara Rice Farmers Society; Mr uniquely blended with the ethos and Inaugurated by Mr Alkesh Kumar Rajiv Vasudevan, founder and Chief values of the state and its people and Sharma, Secretary, Department of In- Executive Officer, AyurVAID; Mr C that resonated with the emerging con- dustries and Managing Director, Kerala Balagopal, Managing Director, Terumo sciousness globally for a more bal- State Industrial Development Corpora- Penpol Ltd; and Mr George Paul, Dianced yet vibrant model for economic tion (KSIDC), the conference was ad- rector, Synthite Industries Ltd. PASSLINE
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‘Emerging Kerala-2012’ from Sept 12-14 An exclusive web portal has been designed for ‘Emerging Kerala’. The website was launched on March 9, 2012 by Chief Minister Oommen Chandy in the presence of Ministers and senior functionaries of the State Government. The website, www.emergingkerala2012.org, provides a comprehensive set of information related to the conduct of the ‘Emerging Kerala-2012’ event. ‘Emerging Kerala 2012’ will be held from September 12 to 14, 2012 at Kochi. The portal captures the essence of the event, proposed to be a biennial global connect. The portal will be the medium to connect various stakeholders of ‘Emerging Kerala’ on a common platform. The website will be a one-stop-shop for all information related to the event, from concept to culmination. The website offers online registration facility to participants, programme and venue details, and a constantly growing bank of projects, ideas and opportunities. It is also proposed to link social media and blogging platforms to provide avenues for discussion on ‘Emerging Kerala’ from now to the event and beyond. The website provides the vision be-
Chief Minister Oommen Chandy launching 'Emerging Kerala 2012' web portal.
hind the creation of the ‘Emerging Kerala’ Connect followed by the mission set out for ‘Emerging Kerala 2012’. It shares the inherent strengths that Kerala has and the policies that the Government has initiated for laying the foundations of economic growth and progress. District profiles provide the socio-economic highlights of each of the 14 districts in Kerala and the opportunities that exist there from a business and investment perspective. The website also features a section on project ideas and investment opportunities that exist in the state for
Mr K K Sidharthan, Chief Executive of Hitech Coatings, Aroor, receiving Safety Award 2011 in Very Small Category of Chemical Industries from Mr A A Azeez, MLA, at C Kesavan Memorial Town Hall, Kollam. The award function was inaugurated by Mr Shibu Baby John, Minister for Labour, Govt of Kerala and organised by Kerala State Department of Factories & Boilers
the entrepreneur. These will showcase profiles and ideas from the small opportunities in the SME space to the large ones—mega-projects—the state envisages, especially in the area of infrastructure development. More of these will be shared through the webportal, by various arms and agencies of the Government for the benefit of investors, entrepreneurs, corporates and other stakeholders. Prime Minister Manmohan Singh has been invited to inaugurate ‘Emerging Kerala 2012’. The event will have plenary sessions around issues of eco-
nomic and developmental importance and breakout sessions around identified core sectors for Kerala: I T and IT-enabled services; tourism and medical tourism including ayurveda;·healthcare services;·food and agro-processing and value addition; MSME in manufacturing and trade;·ports, shipbuilding and related industries;·knowledge/education sector;·energy including green energy;·biotechnology, nanotechno logy and other sunrise sectors;·water technologies and inland waterways; infrastructure development (road, rail, power, water supply, sewage). Besides there will be B2B and B2G connects on the sidelines of the event. Top leadership from Government, both Union and state, heads of the corporate world, influencers and thought leaders are expected to grace this event. The programme schedule will be available on the website along with profiles of speakers and panelists. News, events and road shows leading up to ‘Emerging Kerala 2012’ will also feature on the website enabling all the delegates and participants to stay connected virtually before the event unfolds.
Mr M T Antony, Chief Executive of Classic Paints Pvt Ltd, Aroor, receiving Safety Award 2011 in Small Category of Chemical Industries from Mr A A Azeez, MLA, at C Kesavan Memorial Town Hall, Kollam. The award function was inaugurated by Mr Shibu Baby John, Minister for Labour, Govt of Kerala and organised by Kerala State Department of Factories & Boilers
Angamali Carnival: entertainment and charity GBC Group (Global Business Conexxtions Pvt Ltd), involved in multiplex, food court and movie productions in Kerala, is organizing a three-day extravaganza called Angamali Carnival from April 13 to 15 at Angamaly, coinciding with the Vishu festivities. Celebrities from different walks of life, performing artists and other important personalities will attend the carnival.
GBC Group’s first multiplex with four screens and food courts are coming up at Angamaly. Also, an international food court will be opened in April near the Cochin Airport. Five or six multiplexes and six or eight food courts are planned by 2014.The group’s second film, Second Show (debut film of Mammooty’s son Dulqar Salman), is a box office hit. The event location is spread over 1.5 acres of land.
Angamaly, being the nearest town to Cochin International Airport and the intersection of NH 47 and M C Road, is easily accessible for people from the four ends of the state, especially for the 30-lakh population of Kochi and suburbs with high disposable incomes. About 20,000 people are expected to attend the fiesta every day.
There will be some 50 different stalls catering to different interest groups. There will be a specially designed kids’ play area and a section for spot games to keep the crowd engaged. With the whole area carpeted, the security of this mega-event is ensured through CCTV surveillance and ground security staff. On-call medical assistance and ambulance throughout the event is maintained to meet any emergency. There will be ample car parking facility. International dance shows like salsa, bellydance. crowd interactive programmes like magic shows, themed food villages serving multi-cuisine dishes, traditional performances by famous artists, fashion shows conducted by industry experts, inter-collegiate dance competitions, bhangra, chenda melam, fire display and Arabian village are the major attractions of the event.
Angamali Carnival is planned to be an annual event with entertainment and food festivals. The fund raised through this event will be largely spent on charitable purposes like providing education to poor children, marriage of poor girls, medical aid to senior citizens etc.
Chief celebrities include Shatrugan Sinha, Mattannoor Sankarankutty Marar, Nadir Shah, Anand Raj Anand, Naresh Iyer, Shahid Rafi (son of Mohammed Rafi) and Ranjini Jos. PASSLINE
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EDUCATION: NEW HORIZONS
Nehru Group of Institutions synonymous with world-class education
he prestigious educational institutions in South India under the popular Nehru Group of Institutions are synonymous with world-class education. The institutions are an enchanting world of exclusive higher education for a truly challenging and much-rewarding academic career. The campuses serve as temples of learning for students of various academic streams exceeding 12,000 in number. The ISO 9001- 2008-certified large conglomeration of institutions was founded in 1968 by the late P K Das, an eminent academic and a philanthropist, and is patronized by the Nehru College of Educational & Charitable Trust. The institutes are affiliated to Alagappa University, Karaikudi, Bharathiar University, Coimbatore, Anna University, Chennai, Anna University, Coimbatore, and Calicut University, Kozhikode. Located in parts of Tamil Nadu and Kerala and spread over 300 acres of land on five campuses, the Nehru Group hosts 12 institutions catering to the diversified needs of students in Aeronautical Sciences, Engineering, Information Technology, Management, Medicine, Pharmacy and Arts and Sciences. The Nehru College of Aeronautics & Applied Sciences is uniquely
process to instill competency and confidence levels in the minds of students, stimulate thinking and creativity making them self and ‘active learners’, and to impart ability to face a given situation or challenge in life through seeking and retrieval of information; A wholesome personality enrichment of students through club activities, association activities, health clubs, parent-teacher associations, alumni associations, faculty exchange programmes with industries and corporates and invited and guest lectures, as part of the curriculum; equipped with world-class facilities like aeronautical laboratories and workshops and possesses 10 kinds of aircraft for training and research including King Air C 90 Beach, Learjet 25 B, Cessna 150 and 152, Europlan aircraft and Bell and Estron F 28 helicopters. Most campuses enjoy a salubrious climate and a serene atmosphere well outside the reach of the bustling noise of the cities, an unparalleled gift of nature towards an ambience par excellence in academics. The group has a highly disciplined and competent faculty of around 750, world-class and modern infrastructure facilities like libraries with online backup, computer laboratories with CAM/CAD and
Internet and Wi-Fi facilities and classic classrooms, seminar halls, board rooms, laboratories, workshops and production units. The campuses are provided with a reasonable quantum of residential facilities for the students to stay and take up their academic programmes round the clock. Day scholars’ commutation to and from the campuses is ably and comfortably facilitated by a strong fleet of transport network operated by the management to benefit around 7,000 students on a daily basis. The Nehru Group is on a special academic agenda viz: A focused learning and teaching
A package to impart technical, soft and communicative skills, team-building ability, leadership qualities, group and panel discussions and assertiveness in decision-making and attitude so as to mould the students not merely into ‘educated youth’ but also into ‘employable youth’; Wellimprovised sports and athletics, cultural events, debates, quiz programmes etc for talent building and skill owning and a well-conceived monitoring and evaluation system on teaching and learning processes on all campuses headed by senior academics backed by performance assessment of faculties, self-appraisals and feedback from students and institutional and departmental heads.
Karunya University: raising professionals and leaders K
arunya University in Coimbatore was set up with the noble vision to raise professionals and leaders of high academic calibre and unblemished character, nurtured with a strong motivation and commitment to serve humanity. The Karunya Institute of Technology was started as a private self-financing engineering college on October 4, 1986. In 2004, the institute was awarded the Deemed-to-be University status in recognition of its academic excellence by the Union Ministry of Human Resource Development and subsequently renamed Karunya University.
True to its name (Karunya means ‘compassion’) Karunya University shall be a university with a social concern which will address the problems of humanity through teaching, research and extension in socially relevant areas. The students and faculty of Karunya University will be imbibed with spiritual discernment and a zeal to serve humanity and to eventually become leaders of society. To accomplish the vision, Karunya University, a Christian Minority Institution, will be committed to transforming lives through the following objectives:
Karunya University is into its 25th year of service in higher education with specific focus on Engineering and Technology. In the short span of its existence it has moved swiftly ahead to carve a niche for itself as an institution promoting allround excellence. In a nutshell, Karunya is a co-educational, fully residential, technological university imparting holistic education to develop the body, mind and spirit of the students. The origin of the institution is amazing. In 1981, the late Dr D G S Dhinakaran, God’s servant, received the divine commission to start a technical university which could turn out outstanding engineers with leadership qualities at the national and global level. Building up such a great institution was no easy task. The Dhinakarans had to face innumerable trials and tribulations including the tragic death of their dear daughter during the course of this great endeavour. But nothing could stop them from reaching the goal.
as policy formulation; To set up care homes for physically and mentally challenged as well as the elderly and the terminally ill to enable the students to understand the human needs and pain, by participating in the services rendered to them on campus and thus to dedicate themselves to work towards solving those problems through research, development, policy-making at high levels or through providing spiritual care. As an extension to the God-given plan of Karunya University, the Karunya Trust began the ‘Community Development’ service way back in 1991 by establishing the Evangeline Matriculation School and dedicating it to the local poor and tribal people who live in the surrounding villages of Karunya Nagar. The school is well equipped and provides excellent education to nearly 500 students every year. The other projects of the trust, viz the poultry and agricultural farms etc not only help all the local people to get jobs to earn their livelihood but also help in improving the living conditions of these people.
To raise undergraduate and postgraduate students and research scholars to serve humanity by attaining high levels of academic excellence, professional competence, exemplary values and spiritual empowerment; To find solutions to human problems in areas relating to water, food, healthcare and energy through scientific, social and technological research as well PASSLINE
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The students of the Karunya institutions also involve themselves in educating the rural people by conducting adult education programme, mass literacy programme etc. The rural people, especially the tribal people who have so far not been exposed to such educational methods, now enjoy reading and writing and give themselves a better opportunity to survive in this challenging world.
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BMIM nurturing spirit of entrepreneurship De Paul: creating ambience for advanced studies I
n this world of race, De Paul Institute of Science & Technology’s (DIST) boundless academic cluster is prinking with its architectonic beauty as a complement to the magnificence of Angamaly, a strategic, commercial and industrially developing city in Kerala, a call away from Cochin International Airport. DIST’s goal is the Vincentian mission, ‘Liberation through Education’ and the selfless Vincentian fathers are endeavouring to achieve it. Now DIST is leaping to its committed aim of creating advanced studies, research and social welfare programmes. DIST is a professional college affiliated to M G University, Kottayam, is approved by the All India Council for Technical Education (AICTE) and is ISO 2008-certified. Run by the De Paul Education Trust owned by the Marymatha Province of the Vincentian Congregation, DIST offers four prominent postgraduate degree courses— MBA, MCA, MHRM and MSW— and two undergraduate courses—BCom and BCA. The salient features of DIST are: serene and peaceful campus; well-equipped most modern lab with the latest computers and other paraphernalia; spacious library with latest reference books, journals, periodicals and membership of All India Library Network;
B
harata Mata Institute of Management (BMIM) at Thrikkakara in Kochi, came to be recognized as one of the premier B-schools in Kerala very soon after it came into being. Affiliated to M G University, Kottayam, and approved by the All India Council for Technical Education (AICTE), BMIM provides the best ambience for nurturing and nourishing entrepreneurial spirit among its students. Says Fr Dr Varghese Kalaparambath, Director, BMIM: “The main objective of our MBA programme is to mould highly professional entrepreneurial leaders.” There is a need to build more confidence among the students so that they start their own industry after passing out, he says.
Another speciality of BMIM’s MBA programme is that in addition to the regular curriculum, the institute imparts various certificate courses to equip the students with recent developments in the field of business administration. “The faculty members at BMIM strive to impart and nurture outstanding performance. The emphasis is on building strong leadership, positive attitudes and ethical behaviour to enable an individual to boldly face the challenges of the future. We make sure that every student has a special bond with the teachers and the college. We are also planning to increase the number of seats,” Fr Varghese says.
Being a nationally accredited institution of higher learning, the growth of “We focus more on interactive learnBharata Mata College (BMC), estabing through case studies, group dislished in 1965, was phenomenal. cussions, seminars and other related BMIM, the sister institute of BMC, activities. We are also planning to innovate our students’ training Fr Dr Varghese Kalaparambath owned and managed by the Archdiocese of Ernakulam-Angamaly, is programme by providing them with more practical industry exposure. The idea is to hemmed in on all sides by a picturesque township permit every student to spend a day every week in renowned for its proximity to the industrial hub of an industry. This will help the students build more Kerala. South Indian Bank, HSBC, HDFC, ICICI Pruconfidence to start an industry themselves,” he says. dential, Federal Bank, CIPLA, Geojit, IBS and the Apart from the summer internship programme, Kotak Group are some of the major companies that live projects are assigned for almost every subject come for recruitment every year. providing ample opportunity for the students to have industrial experience.
add-on management software courses; 24-four hour high bandwidth Internet facility; Wi-Fi-enabled campus; qualified and experienced faculty; best-known visiting faculty members; international certification programmes in association with DePaul University, Chicago, US; vibrant platform for extracurricular activity; career guidance and placement assistance; hostel facility on the campus in a peaceful environment; special coaching for effective communication, language skill and personality development; student counselling programme and DePaul Centre for Research and Development (DCRD). DIST is a real piece of greenery of the intelligentsia and is the ultimate forum for professional education. As they say, “Winners are not quitters and quitters are never winners.” Fr Dr Sebastain Mappilaparambil, Principal DIST. Fr Daison Vettiyadan is the Vice Principal & Director Finance for DIST. PASSLINE
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Cardinal Mar George Alencherry is the patron of the college.
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Nirmal Jyothi College for professional courses
H
ard work with utmost dedication will assure one of success in the chartered accountancy exam, says Mr M P Wilson, Director, Nirmal Jyothi College. A committed person needs only four years to land a career in this field, he adds. Mr Wilson is a professional chartered accountant with years of hands-on experience. The career prospect of chartered accountancy is very challenging and rewarding and for a skilled chartered accountant, ample opportunities are there—in accountancy, auditing, cost accountancy, taxation, investigation and consultancy, he says. A division of IIBM (Imperial Institute of Business Management), Bangalore, Nirmal Jyothi College is situated on the third floor of Chemmanam Square, an imposing structure in the heart of Perumbavoor town. The institution is well equipped with spacious classrooms and state-of-the-art facilities. “We run various professional courses as well as coaching and training classes. We are
particular about excellence in whatever we do or aim at,” says Mr M C Alexander, Principal of the college. The founding fathers of the institution are chartered accountants of repute and philanthropists who are visionaries and have a human approach towards society, the nation and the world. “Our primary objective is to rise to the level of a highly practically oriented educational centre which could act as a pathfinder for young and aspiring people who seek to find a job or profession by passing competitive examinations conducted by various bodies, government, statutory or private,” says Mr C A Wilson, Chairman of the college. “While being philanthropic, we also aim at being thoroughly professional in our outlook and M P Wilson practice. Providing the best training and coaching possible to our scholars and helping them to achieve their goal will be our endeavour”, adds Mr Wilson. To meet the fast-moving demands of profession-
alism, the institute envisages emerging as a professional college with regular studies for BCom, MBA, MCom etc. Teaching curriculum includes conducting training and coaching classes for chartered accountancy (CPT, IPCC and Final), cost and works accountancy (CWA), bank PO/ clerk, PSC exams, personality development and interview skills, BPO and call centre training, teachers’ orientation
training, communicative English, IELTS, BCom, MCom, MBA, +1, +2 entrance coaching (for pre- medical and preengineering test), coaching for computer courses such as MS Office, DTP, operating systems, trouble shooting as well as C++ programming.
Harvard opens first classroom in India T
aj Lands End recently opened its doors to Harvard Business School’s first classroom in India at its sprawling property in Mumbai suburb Bandra. Mr Ratan Tata, Chairman, Tata Sons, inaugurated the amphitheatre-styled classroom in the presence of Mr Nitin Nohria, Dean, Harvard Business School, and other distinguished dignitaries. Addressing the inaugural class, Mr Ratan Tata said, “I’m very pleased that the Taj Lands End and Tata Group could do what I thought would be a fitting proposition to Harvard to give them a physical facility that would enable them to provide a touch and feel of executive education in
India. I am very proud that we have been able to provide them with this facility. You will now have a classroom that will give India and the participants a real feel of business school without being in Boston”. Built and owned by Taj Lands End, the classroom gives participants and students a true Harvard Business School case method learning experience for the first time in India. Mr Raymond N Bickson, Managing Director and Chief Executive Officer, Indian Hotels Company Limited, said: “Indian Hotels Company Ltd is proud to have partnered with Harvard Business School to develop this unique state-ofthe-art multimedia facility at
Taj Lands End. The hotel’s proximity to the important business hubs and the airport coupled with contemporary facilities will offer students an ideal combination of an academic environment and a hospitality experience. The addition of the classroom has further strengthened our longstanding association with the Harvard Business School and deepened its engagement with India”. The company’s association with Harvard Business School upholds the Tata Group’s ethos of giving back to society by supporting education and encouraging future leaders to enhance their skills at this world-class facility. Since its
Tata Sons Chairman Ratan Tata, Harvard Business School Dean Nitin Nohria
inception in 1936, Tata Institute of Social Sciences has made significant contribution to policy, planning, action strategies and human resource development in several areas ranging from sustainable rural and urban development to education, health, communal harmony, human rights and industrial relations. The classroom with a seat-
Amphitheatre-styled classroom PASSLINE
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ing capacity of 82 students is virtually indistinguishable from the MBA classrooms in Boston. The Harvard Business School faculty will offer programmes to leaders in business, government and academia on a wide range of subjects such as Corporate Social Responsibility, Building a Global Enterprise and Case Writing and Course Development.
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EDUCATION: NEW HORIZONS
Holy Grace—with a difference 'W
ith a difference’ is the slogan of the Holy Grace Group of Educational Institutions. The courses offered range from primary classes to the postgraduate level. Apart from eyeing rank-holders Holy Grace strives for the overall development of the pupil. Judiciously connecting curriculum and the abilities of the pupil, The institution diversified into the engineering stream with the inauguration of the BTech course for women in August 2011. The Holy Grace Group was founded in 1999 under the banner of Holy Grace Foundation, a registered charitable and educational society, and the visionary leadership of educational entrepreneur Raju Davis Perepadan, an advocate. With the slogan ‘Committed to God and the Country’, it imparts education conforming to international standards. The BTech course for women, affiliated to Calicut University and approved by the AICTE, is a complete industryendorsed package, with the university syllabus at its core, and all the industry needs are strategically wrapped around as super-competency add-on modules. The exceptional features or ‘differences’ in the institution are an ATM on campus, executive-level physical and psychological nurturing facilities like billiards, tennis, horse-riding and yoga, as well as a full-fledged gymnasium and a swimming pool. The institution also imparts soft-skills training to the
"P
erseverance and determination is the secret of the success of any innovative venture, “says Aby Elias, Managing Director of Alfab Marketing and Sales Pvt Ltd. His hard work and confidence have made Alfab a reputable name in the field. For Aby, business has always been a family affair. His father K M Eliyas is a wellknown civil contractor who has a number of satisfied customers. So right after pursuing an MBA in Human Resource Management, Aby joined his family business, K M Eliyas Construction Group. This taught him the basic and most important lessons in business— leadership and dedication. After gaining enough confidence from the construction industry, Aby started his dream venture, Alfab Marketing and Sales Pvt Ltd, in 2003. Being in the industry for more than 15 years, Aby knows the twists and turns of this sector very well.”Superb coordination and systematic approach have contributed to the success of my company”, he says.
pupils to enhance their overall development. There is a well-equipped communicative English lab. Regular communicative English classes are there throughout the four-year BTech course.
ings—by AIMA 2009, 10, 11; Business India 2009, 10, 11 and Indian Management 2009, 10, 11. It also boasts an unbeatable record of placement, which includes one which is the highest in India, with an annual pay of Rs 1 crore, in 2007. The companies that hire students include Thomas Cook, ITC, Asian Paints, Toyota, Wipro, Samsung, HCL, PepsiCo, Techl Link (UAE), Geojit Gulf operation, Cipla and the Tata Group. The college is affiliated to Calicut University and is approved by the AICTE.
Public school: Trendsetter in nextgeneration education, Holy Grace’s ‘child-friendly’ CBSE School and ‘BSchool with a difference’ are both the first of their kind in India. Grace Public School has now gained wide attention after pupils from faraway places came to study there realizing its uniqueness. The school has classes from LKG to Learning Disability XII, and there are about Research Centre: An3,000 pupils. Raju Davis Perepadan other remarkable service The institution offers that Holy Grace offers is foundation courses for IIT and IAS from the Learning Disability Research CenStandard IV onwards, and 30 per cent tre. Run by 12 experienced people, of the time has been set apart for co- including a psychiatrist and a psycholocurricular activities. Its Plus-Two gist, the centre provides regular traincourse has been integrated with en- ing to those pupils who have difficulty trance coaching that is conducted dur- in learning. ing class time itself so that the stuSocial commitment: Raju Davis dents are not put to undue stress. is the President of Sevanagiri Seminars are held by students after Sevanalaya, an orphanage, having 50 each chapter. inmates. Holy Grace conducts many MBA College: The MBA School charitable activities, including daily food has been ranked the 45th best MBA supply to economically weaker patients college in the country by Dainik Bhaskar, the largest-circulated Hindi in the Government Hospital at Mala. daily in India. The school has also been Food is being regularly supplied at noon ranked as one among the best 100 and night for the last two years. The colleges in the country in various rat- MBA students serve the food.
Accolades for Raju Davis: Raju Davis is a winner of the Swami Vivekananda National Award for his contribution to innovation in the academic field. He received the award in 2007. He is also the recipient of the Nehru Award and the Gandhian Award for his novel ideas in the education sector. Recently, he got a doctorate in HR (Human Resources). A former President of Mala panchayat, Raju Davis has done a lot of study and research, including in more than one dozen foreign countries, about the changing trends in the education sector. Son of Davis Perepadan, former AICC member, Raju Davis had his schooling at Don Bosco, Irinjalakuda. He graduated from Christ College, Bangalore, and then joined the Law College, Thiruvananathapuram. He became a busy lawyer at the Irinjalakuda court just before turning a full-time politician. A member of the governing board of a number of educational institutions such as BEd college, schools and colleges, he had also served as a member of the Senate of Kerala University in his student days and is the VicePresident of the Kerala State CBSE School Management Association. May Mol, his wife, is a homemaker. They have three daughters— Mariya, Theresa and Anna—all of whom have been frequent winners in English recitation at CBSE State festivals.
Alfab—a trusted name in quality and service Alfab, an ISI 9001:2008 company, remains the leading dealer in aluminum composite panels, imported architectural hardware, furnishings and fittings, Signage digital products and so on. The firm has an excellent track record. Within the short period of 10 years, Alfab has captured the market through its dedicated service and quality products. Alfab’s clients include the R a i l w a y s , Dhanlaxmi Bank, State Bank of Aby Elias Travancore, INB Vysya, Malayala Manorama and Joyalukkas, to name a few. The company is the main dealer in aluminum composite panels which are used for decorating buildings giving them a new look and style. This revolutionary product is available in various colours and textures. Funder max (higher-
density pressure—HDP) or HDP cladding is another type of products available in this category. Though it is a bit costlier than the other products, many clients prefer HDP because of its high resistance capacity. The product is available in both gloss and matte patterns. Alfab had earlier taken over the dealership of 3M interior solution which later turned a big hit among users. In the 3M wall graphics, strong graphic images are applied to walls, pillars and even ceilings to create exciting and an interesting environment. Alfab plans to launch a new product, copper cladding, soon. A highly skilled group of professionals and employees is the strength of Alfab. Apart from the senior staff, Alfab has a team of 25 young and energetic marketing professionals and sales executives to serve customers. “We always focus on direct marketing and it helps to avoid flaws in marketing”, says Aby. “Each year we PASSLINE
try to launch some innovative ideas and fortunately they click in the market,” he says. The company has its head office in Kochi and has branches in Thrissur and Kozhikode. About the problems in this industry, Aby says the quantity of sales is low in Kerala compared to other states. “But here people are more open to modern technology and this helps us to introduce most modern building applications”, he says. The ratio shows that the growth of sales is higher in Kochi and Kozhikode than in other centres. Then come Kottayam and Thiruvanantha puram, respectively.”To surmount the hurdles in this sector, we should know the pulse of the industry”, says the confidant entrepreneur. “Even in the midst of crises, we focus
March 31-April 30, 2012
on the quality of the product and its timely delivery. It is this systematic approach that has helped us gain a reputation in the industry”, says a beaming, confident Aby. There are other organizations under the leadership of Aby which are also working well. He is also an Executive Director of K M Eliyas Construction Pvt Ltd and also a partner in NOA Estate. Now the young Director has shifted his focus to the education sector too. Though the construction and education industries are like chalk and cheese, Aby strongly believes that education is the basis of the development of any nation. This positive attitude has inspired him to start Smitha Aby many educational institutions. He now heads Noble Educational and Charitable Trust as its Director. Smitha, Aby’s wife, has been serving as the Executive Director of Alfab for the last seven years. They have two children, Elwin and Edward. “My family is my pillar of support”, he concludes.
EDUCATION: NEW HORIZONS 34 H oly Kings College of Engineering & Technology is the latest feather in Noble Educational & Charitable Trust’s cap. This upcoming temple of education aims to be a premier institution in technical education in the country with a vision to mould globally competent professionals with refined attitudes. In accordance with its lofty vision, it is committed in its mission to: ensuring teachinglearning processes on a par with international standards; providing opportunities for excellent interaction with multinational companies/organizations; imparting career orientation to meet global competition; preparing the students for taking up major responsibilities with social commitment and creating an environment to enhance positive attitudes. Besides, the college has infrastructure and faculty on a par with international standards. Equipped with the most modern amenities and infrastructure, the college intends to scale great heights. Holy Kings College of Engineering & Technology is managed by Noble Educational & Charitable Trust. The trust was founded by a group of like-minded socially active men with a proven track record of excellence. Mr P V Thomas is its Chairman, Mr Abu Mathew - Vice Chairman, Mr C G Jolly Secretary, Prof. Jory Mathai Joint Secretary, Mr K M Elias Treasurer, Mr E J Baby Trustee and Mr Eldho Elias Trustee.
Holy Kings to mould globally competent professionals
and ease of access to the upcoming IT hub and industrial parks are its most salient features. With state-of-the- art infrastructure and well-equipped laboratories/workshops, the institution aims to set an example for its counterparts and contemporaries in the state. The highly experienced and qualified faculty members lay great emphasis on all-round personality development of their wards. Being studentfriendly, it also offers scholarships based on merit-cummeans for deserving students. The college also has tie-ups with various financial institutions for facilitating educational loans. Courses: The following are the undergraduate courses (regular) leading to the award of BTech degree which will be offered by the college: Mechanical Engineering; Electronics & Communication Engineering; Electrical & Electronics Engineering; Civil Engineering; Computer Sci-
ence & Engineering
Accommodation: The college has separate hostels for ladies and gents. To ensure that the hostel is truly a home away from home, it has equipped them well enough with all necessary amenities and a right ambience. The hostels have a separate mess to provide hygienic and healthy food to the students at reasonable rates. The college’s Digital Library and Resource Centre is a pivotal resource wherein reference materials and books have been stored in digital formats and accessible by computers. The digital content may be stored locally, or accessed remotely via computer networks. The digital library and resource centre helps the students keep in pace with the revolution in information technology. In addition, the resource centre also has separate volumes of books in print for reference and circulation. The library will be open on
all days barring Sundays and public holidays from 9 am to 7 pm.
Computer Centre: The state-of-the-art Computer Centre at Holy Kings has highspeed internet access and is open to the staff and students on all days except Sundays and public holidays. Placement and Training Centre: The college understands the demands and needs of today’s industry and ensures that students passing out of Holy Kings graduate into professionals rather than amateurs. So a number of training sessions and lecture series will be provided to the students for honing their skills. The college will have a Placement Centre that will coordinate placement and project-related matters between the students, faculty and various corporate organizations. The placement centre will have coordinators who are very well-connected with various premier organizations in industry.
Transportation: Owing to the prominence of its location, the institute has ample public transportation facilities available. Anyhow, the college has its own conveyance for the students plying to most nearby towns and cities. A detailed route is available from the transport department of the college. Hospital: Holy Kings strives to make life as stressfree as possible for its students. The college has a tieup with leading hospitals in the vicinity for addressing all the medical needs of the students. Canteen: The institute has a full- fledged canteen, which provides clean and hygienic food to the staff and students at reasonable rates. The canteen serves both vegetarian and non-vegetarian cuisines with utmost consideration for health and cleanliness. Sports: In addition to all the infrastructural facilities for educational purposes, the college also has amenities for sports and games which ensure the overall development of the students. A full-size football ground and a 400-m track is coming up on campus. Banking: The college will have a banking counter/ATM to facilitate easy money transactions for the students. Institute-industry interaction: Holy Kings has various tie-ups with the corporate world. The institute will be organizing regular interaction sessions with leading entities from industry. Such sessions and one-to-one interactions with stalwarts will provide the students with a deep and professional insight into the practicalities of their respective subjects.
Situated midway between Piravom and Muvattupuzha at Pampakuda, the college is hardly 35 km from Kochi. Its proximity to the industrial belt
Her dream: to make V-Star an all-India brand From page 19
for the expansion plan, she says “there is no such plan as of now.” But she doesn’t rule it out. “Perhaps it may cone in another two or three years.” Any dream? “My dream is to make V-Star products a brand known all over India. I feel that I can have my dream
fulfilled as our brands are popular even today all over the South”, says Sheela. As a responsible employer, Sheela is conscious of her duty to society and the people. V-Star sets apart 5% of its profits for helping social causes. “We are already helping cancer patients and contributing to welfare measures.”
Kochouseph and Sheela with their family
The Sheela-Kochouseph couple has two sons. Arun, the elder, well-versed in engineering and technology, is Chairman and Managing Director of Wonder La. The younger son Mithun, a mathematical and accounts expert, is Executive Director, V-Guard Industries. Both had chosen their partners in life by themselves. Even though both girls are Malayalees they were born and brought up outside the state and are well-educated. They PASSLINE
are also actively involved in the business. Arun’s wife Priya, an MSc (Public Health), is a Director of Wonder La. Joshna, Mithun’s wife, is an MBA. She helps Sheela in V-Star’s administration. Behind every great businessman or businesswoman, they say, is a great manager. The managers of V-Star are professionals to the core, highly efficient and knowledgeable. “We discuss and fix targets together. At every stage I seek their opinions. They are happy and I am also happy,” says Sheela. Any regrets in life? “If at all there is one, it is that compared to early years both Kochouseph and I cannot spend much time together. Nor can I spend time with my sons, daughters-in-law and the grandchild—all of us are busy. Still I return from the office, where I go in the morning, by 1.30 in the afternoon. I spend whatever leisure I get on gardening and, yes, painting—two March 31-April 30, 2012
things I am fond of.” Some of her beautiful paintings adorn her living and reception rooms. Fish curry and rice are her favourite dishes. Kochouseph is not very particular about food. “I am a sentimental person. Kochouseph is neither sentimental nor stubborn. As everyone knows, he is a philanthropist and donates liberally to good causes.” Sheela is associated with trade organizations and is the Joint Convener of the women’s wing of the Kerala Chamber of Commerce & Industry and an active member of the Inner Wheel Club of Kochi. Sheela has made the transition from a housewife and a mother to a corporate head and has redefined the role of women in a changing world with ease and aplomb. She has proved herself to be her husband’s wife and her own woman.
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EDUCATION: NEW HORIZONS
ASIET Centre of excellence in engg and technology Adi Shankara Institute of Engi-
17. A total of 1,391 students from 69 colleges participated in various competitions in Brahma-2012. One day of the festival was devoted to pure classical arts and this was for creating interest in all classical arts forms in professional students.
neering & Technology (ASIET), established at Kalady in 2001 with the aim of providing value-added technical education, soon became the mostsought-after institute in the technical education sector in Kerala. The college is run by Adi Sankara Trust, a The institute has been accredited registered trust which has made an with ISO 9001:2008 certification. This indelible imprint in the educational is the first new-generation engineering arena. The college is affiliated to Ma- college to get the prestigious internahatma Gandhi University, Kottayam, tional standards certification for the and offers courses approved by the All quality system of technical education. India Council for Technical ISO standards control the Education (AICTE). ASIET quality aspects from the offers BTech and MBA moment a student enters courses and MTech in campus. From that moComputer Science, ment, the transformation Electricals and Electronof the student into a toics and Electronics and tally competent engineer Communication. In 2011is the responsibility of the 12, 298 students got eminstitution. The certificaployment through placetion is done by KPMG ment facility. They were Quality Registrar and acabsorbed in TCS, Godrej, Dr B S Krishnan credited by the Dutch HCL, UST Global, South Council of Certification. Indian Bank (SIB), Federal Bank and At present the management of ICICI. The pass percentage never falls ASIET is in the hands of Dr B S below 67% in any semester. Now Krishnan, the Managing Trustee. The 87% of the students become eligible college is headed by the electronics for placement recruitment. Industry Institute-Interaction has signed a memorandum of understanding (MOU) with Sree Ram Group, Infosys and ISCC Labz.
wizard, Dr S G Iyer, the Principal, who is ably assisted by a group of young, dedicated and competent faculty. Adi Sankara Trust was set up with the blessings of His Holiness Jagadguru Sri Sri Sankaracharya Mahaswamikal of Sringeri Sarada Peetham and guided by the great vision of Adi Sankara. The trust today owns five prestigious educational institutions—Sree Sankara College, Sree Sarada Vidyalaya, Adi Sankara Institute of Engineering & Technology, Adi Sankara Institute of Management & Technology and Bharathi Theertha Education Society. Inspired by the ancient philosophy of Adi Sankara, the trust keeps the light burning for the generations to come. It has been a pioneer for the last 50 years in catering to the growing demands of highly specialized science graduates and technologists. The objectives of the trust include the bringing of excellence in engineering, agricultural and medical fields by organizing higher education courses in
A Research Centre in Information Security was inaugurated by former President A P J Abdul Kalam. Special workshops on robotics, ethical hacking and signal processing are conducted by experts from IIITBangalore and IIT-Kharagpur. Special refresher courses on Information Security are conducted under the auspices of C-DAC, Thiruvananthapuram, for the staff of the college. Every year the college conducts a national technical cultural festival called Brahma. This year Brahma2012 was conducted from March 15-
Dr V N Rajasekharan Pillai, Vice-Chancellor, IGNOU, inaugurating Techno Cultural Fest Brahma-2012. March 31-April 30, 2012 PASSLINE
these areas. The trust also plans to run educational institutions and hostels akin to the ancient ‘gurukulas’. It stands for secular moral values, giving importance to Indian culture. Popularizing Sanskrit education and in-depth study of Vedanta thought is another objective. The institution envisages providing an apt environment for individuals to transform into technologically superior, socially committed, spiritually elevated and nationally responsible citizens. It aims to build a strong centre of excellence in engineering and technology targeting global standards. The Department of Management Studies of ASIET has an amiable environment which stimulates learning and encourages overall develDr S G Iyer opment of the individual. The noble quality inculcates ethical and spiritual values and innovative thinking in the students. The college consistently aims to impart quality education based on empowerment of participants through involvement and guidance of the faculty members. The students are given an active role in the teaching-learning process through live classes. The students get periodic industry visits. Personality development, communication and presentation skills and group discussions are the regular features. Invitees from the manufacturing and service sectors address the students frequently on current management developments. The campus recruiters include national and multinational organizations and the college targets job placements for all students by the end of the programme. The faculty comprises experts with good academic qualification and extensive industry -Response Feature experience.
36 PASSLINE Desjoyaux—the mark of luxury living March 31-April 30, 2012
Passline News Service
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he concept of luxury living is common now as the people want to state their identity through the beauty of their home. The increasing trend of such an exceptional lifestyle has led people to turn to luxury brands and sparkling designs. ‘Desjoyaux’ is one such brand that attracts customers through its innovative designs. In fact it is the one which upturns the whole idea of swimming pools. “Every 30 minutes, somewhere in the world a Desjoyaux is born”: the striking note on the website of the company shows the popularity of this branded swimming pool in the market. Each year, the company lures its customers using many innovative ideas and designs. But the history of Desjoyaux pool is quite interesting. It was in 1966 that Jean Desjoyaux, the man behind the venture, built a private swimming pool for his children. Later his private pool became a hit among his friends and it prompted Mr Jean to set up a company for swimming pools in 1968. Now Desjoyaux Pools, the French multinational company with its headquarters in France, is spearheading a revolution in Kerala vis-à-vis branded world-class swimming pools. The company has an enviable track record of having built over 2,50,000 swimming pools worldwide since 1966. With 650 branches in 80 countries, this global giant has the biggest swimming pool factory in the world, spread across 40,000 square metres. The world’s leading manufacturer of high-end, customized swimming pools has been certified by Bureau VERITAS, which is considered to be the ultimate global quality certification. The company has the widest sales and service network throughout the world. It is manned by company-trained professionals with years of experience in setting up pools, incorporating the most advanced technological knowhow, which has helped reduce the time span for pool
construction to 10 days. Each component used in the construction of Desjoyaux swimming pools conforms to impeccable international quality standards, thereby ensuring hassle-free performance. Desjoyaux swimming pools have unique features such as silent and lower power consumption pumps that save on electricity and are high on performance. The sophisticated concrete casing technology makes possible an advanced structure. They always incorporate new advanced techniques for pool structures.
Unlike other types, these pools are available in different textures like gunite, wood, polyethylene, aluminum and polyester. Desjoyaux claims one of the most advanced filtration units that is environment-friendly as well as the most sophisticated and economical system that leaves you with a filtration of 6-15 microns. It is superior and active and its permanent casing, along with the most advanced liner, gives you trouble-free pool performance. Desco casing panel and filtration block, the ground-breaking techniques, made it popular among its customers. Desjoyaux pools do not require a separate pump room. Less piping requirements, along with ecofriendly and compact filtration techniques, give you the purest water in your swimming pool, lending credence to this global brand’s quality assurance. Desjoyaux Pools operations (marketing and service) in Kerala are headed by Regional Manager Jafar Ali, a thorough professional, who had an earlier stint
Jose Prakash—leaving a legacy into the future I
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with the global giant’s corporate office in France and was at the helm of affairs of Desjoyaux operations in Phukhet (Thailand) before moving back to Goa (India) and thereafter assuming his present assignment in Kochi (Kerala). He was Jean Desjoyaux able to establish the Desjoyaux Pools brand in Kerala in a leading position as a brand to be reckoned with within a short time of six months. At present, Desjoyaux has sales and marketing centres in Mumbai, Pune, Alibagh, Gujarat, Hyderabad, Bangalore, Kerala (Kochi) and Goa. In Kerala it has got offices in Kozhikode, Kochi and Thiruvananthapuram. It t is to open centres in Coimbatore by April 2012 and in Chennai by August 2012. This unexpected success in sales has been contributed by Keralites’ changing lifestyles, especially of the large number of NRI Malayalees, who aspire for high living standards. Jafar Ali says: “Requirements for Desjoyaux Pools come from far-flung places in Malappuram, Kozhikode, Wayanad, Ernakulam, Thrissur and Kottayam. This, in fact, was beyond our expectations.” Desjoyaux has built swimming pools for leading clients like Hi-LITE Builders, National Builders, BCG, Cubix Builders, CIDBI and Taj Group of Hotels. A world-class branded Desjoyaux swimming pool can be installed at a location of your choice at a modest price starting from Rs 5 lakh (depending on pool size). It also carries out the best-in-class aftersales service, fully conforming to its global standards. For queries or estimate preparation for a Desjoyaux swimming pool, one can contact Jafar Ali, Regional Manager, Desjoyaux Pools, Kochi, Kerala. Contact No: 9995488488, 0484-2476555, Email = Jafar.ali@desjoyauxpools.co.in.
Valappila Master meant many things to Thrissurians V
rish poet and dramatist William Butler Yeats (W B Yeats) once said that a man should alappila Paul Master, Chairman of popular adver“live to comb grey hair”. Jose Prakash did. In his long life, he essayed many roles, both in real tising agency Valappila Communications, who passed and reel life. His death, at age 87, on March 24 cuts a cord to a shimmery past but leaves a away at Thrissur owing to old-age ailments on March legacy far into the future. The death, as destiny would have it, took place a day after the state 21, meant many things to Thrissurians for whom he was government selected him for the prestigious J C Daniel Award in recognition of his overall a freedom fighter, a veteran journalist, a social activist contribution to the film world. and a political presence, which defined an era in the There were villains, in whose roles Jose Prakash excelled, when he, with them, reigned Indian National Congress in the area. over the Malayalam film world—Balan K Nair, Kottarakkara Sreedharan Nair, Ummer, N Govindan Paul, fondly known as Paul Valappila Master, was Kutty,… But the towering Changanassery-born actor stood apart—handsome, tall, and soinstrumental in leading the revolt against the first Comphisticated. He fitted the polished villain mould so well that he went on to play such roles in munist Ministry in Kerala in the late 1950s. Working as film after film starring in such films as Olavum Theeravum, CID Nazeer, a trade union leader in the INTUC, he had also Panchathanthram, Maamankam, Puthiya Velicham, Eetta, Avano Atho Avalo, OBITUARY published a daily, Thozhilali (The Worker), along Manushya Mrugam, Shakthi, Upaharam, Ahimsa, Rakhtham, Thrishna, Ithu with Father Vadakkan, a firebrand priest who founded Njangalude Katha, Koodevide, Belt Mathai, Rajavinte Makan, Kshamichu Ennoru Vaakku, the Karshaka Thozhilali Party (KTP) in the district. Paul Kottayam Kunjachan, Devasuram, Indrajaalam, Aakashadoothu, Ente Veedu Appoontem and represented the district at the state level of the KTP. Traffic, to name a few of the more than 350 films he had acted in. Paul was also the state President of the Legion of Surprisingly the man who was to shake the Malayalam film world and lakhs of film viewers Mary, a sister organization of the Roman Christian later, Jose Prakash entered the industry as a singer in 1953 through Shariyo Thetto, in which Church and had served as a pastoral member of the he also had a small role. His major break came with Bhaktha Kuchela (1961). Thrissur Archdiocese for a long time. He was a recipient Though films had always remained his first love, he had also tried his hand at business. He of several awards and honours for his contributions in owned a textile shop at M G Road in Kochi. the political, cultural and business areas. He was also His last film was Traffic released last year. Rajesh Pillai, Director of the film, remembers presented with awards by the Thrissur Archdiocese for the punctuality of the man who was acting in a film after a long time: he had to take a break his works in catechism and advertising in the media. from films in 2003 because of ill health. Says Rajesh: “On the day the shooting for Traffic was Paul is survived by wife Mary Chacko, daughter of Fr scheduled at 6 am, Jose Prakash Sir got up at 4 am and was ready by 6 am. The others Vadakkan’s elder brother, sons James Valappila, state started arriving only by 7. Punctuality, he said, was very important in film-making. “ Calling President of the Kerala Advertising Agencies AssociaJose Prakash one of the legends of Malayalam cinema, Rajesh says he was surprised at the tion (K3A), and Jones Valappila, Ernakulam Zone Treaenthusiasm shown by the veteran during the shooting in spite of and unmindful of his deteriosurer of K3A, and daughters Rose Kumari, Raisel, Rexi rating health. and Reny. Jose Prakash is survived by his six children. His wife Chinnamma had predeceased him. 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