Kolkata Mar 25 PTI Larsen Toubro groups IT company Mindtree announced opening of its first development centre in Kolkata engaging 1000 professionals There is renewed thrust from IT companies opening their base in the city or expanding existing facilities Infosys has commenced construction of their facility in the city an state government official said The 56000 square feet Mindtree facility located in the citys IT hub--Sector V of Bidhannagar is compliant with LEED standards of environmentally sustainable operations and has been designed as an agile workplace to enable greater collaboration innovation and creativity the company said on Thursday The company has more than 31900 professionals across 24 countries The company will provide digital solutions consulting cloud core modernization product engineering business intelligence data analytics CRM platform and cybersecurity services to some of the worlds largest retail consumer goods manufacturing banking financial services insurance travel transportation and hospitality companies in North America Europe and Asia-Pacific officials said The centre is the result of our continued investments in cutting-edge talent and infrastructure to meet the robust global demand for our services Our focus is on leveraging our domain and technology leadership global client footprint progressive people practices and close collaboration with academia to create future-ready talent and fast-paced careers in the city Kolkata will play an important role in turning that into an even stronger competitive advantage for us We look forward to growing our infrastructure and operations in the city Mindtree CEO and managing director Debashis Chatterjee said PTI BSM RG RG

Kolkata Mar 23 PTI Countrys largest commodity company Adani Wilmar is betting big on staples and scouting for acquisition of regional rice brands and processing units in several states of the country a top company official said The company will launch branded daily-use rice under the fortune brand beginning with West Bengal from early April Staple is just 11 per cent of the companys topline Adani Wilmar had acquired a sick rice processing unit in West Bengal to mark the journey in the segment which is 30-35 million tonne per annum in size We are targeting to grow fast in the daily-use rice segment which is 30-35 million tonne per annum apart from public distribution foodgrain We are scouting for acquisitions of brands and rice processing units in several states for fast growth We have done first from West Bengal taking over a sick unit Adani Wilmar MD CEO Angshu Mallick told PTI Acquisitions allow quicker rollout and rapid growth Greenfield will take at least two years to begin operation he said We are already into Basmati but it is only 10 per cent of rice consumption so we cannot ignore regional local rice used for daily consumption which is a huge untapped market Mallick said We will launch packaged local rice based on regional preference In Bengal we will launch Baskati and miniket rice which is common here Sona masuri in Uttar Pradesh and Kolam rice in South India he added The company which hit the capital market recently had earmarked Rs 450-500 crore for acquisition and atta and rice is major focus area in the staples segment Adani is scouting for more rice units and brands in North India and South India We will ideally have one unit each in states first and then gradually scale up We will procure paddy from farmers mandis and brokers Mallick said Adani Wilmar has 22 own factories in total and has sourcing arrangement products from 28 more plants across the country Staple contributes 11 per cent to Adani Wilmars topline while the rest is from edible oil and industry essentials We are aiming at 30 per cent growth in the food segment and 6-7 per cent in edible oil in volume terms Mallick said The company was also looking at inorganic space to expand its food basket The company reported a 66 per cent rise in its Q3 consolidated net profit at Rs 211 crore as compared to Rs 127 crore in the year-ago quarter The companys revenue from operations rose over 40 per cent to Rs 14379 crore from Rs 10229 crore in the same quarter last year PTI BSM RG RG

Kolkata Mar 21 PTI Syama Prasad Mookerjee Port SMP Kolkata opened a new chapter in cargo handling by commencing ship-to ship STS operations for LPG cargo bound for Bangladesh an official statement said Apart from ushering a new in the Indo-Bangladesh relations it will also open connectivity between SMP Port Kolkata and Mongla Port of Bangladesh where the LPG cargo is bound for it said SMP Port was earlier known as Kolkata Port Trust STS operator Ms Pace Marine Solutions Pvt Ltd approached SMPK with such a proposal in the month of OctoberNovember 2021 post commencement of successful operation of STS for LPG and other liquefied cargo bound for Haldia VLGC M T MIURA carrying 11666335 tonne of propane and 32848804 tonne of Butane from Trincomallee Srilanka anchored at Sandheads on March 19 and on completion of customs formalities commenced discharging cargo in four LPG barges port officials said The STS operation involving Floater and LPG barges was being undertaken at Indonesia earlier and SMP Kolkata is the first major port in the country for undertaking such operation within its limits said SMP Chairman Vinit Kumar As a startup venture the port has provided its Tug for towing and placing Yokohama fenders for safe berthing of vessels in the sea said Kumar India is carrying out dredging activity in Bangladesh for smooth sailing of ships from Kolkata to Bangladesh ports for sustainable and economic logistics infrastructure to North East the Union shipping minister had said PTI BSM RG RG

Kolkata Dec 24 PTI Howrah Delta Jute Mill which has been closed since November last year is going to reopen from December 25 bringing joy to over 3000 workers of the mill This was decided in a special meeting held with the representatives of the employers and the workers union under the mediation of the West Bengal Labour Minister Becharam Manna In the meeting it was decided that Delta Jute Mill in Howrah would lift the suspension from Saturday and production in the mill would start from January 12 the minister said About 3200 workers work in the jute mill PTI BSM RG RG

Kolkata Dec 22 PTI The Union Power ministry was working on resource adequacy plan guidelines to ensure 24x7 power supply to the consumers a senior official said on Wednesday The ministry was also discussing some bigger reforms to make discoms viable and was working on steps like de-regulating the sector or making regulation adaptability more industry friendly the official said Resource adequacy is the ability of a utilities reliable capacity resources supply to meet the customers energy or system loads demands at all hours The factor that affects supply is the availability of sufficient dispatchable capacity resources in order to meet the demand A focus on 24x7 power can be ensured if discoms properly have resource adequacy in place There are a few private players who are working in this direction Working on resource adequacy plan guidelines so that discoms can be integrated at the state level and then more at national level The advantage will be lesser resource requirement Power Ministry Joint Secretary Ghanshyam Prasad said at the CII Energy Conclave He said the challenge given by Prime Minister Narendra Modi of converting 50 per cent of energy from renewable resources by 2030 and by the same year to reduce total projected carbon emissions by one billion tonnes will be achieved Prasad urged the industry to come forward and adapt off-river hydro pump storage to integrate renewables which is not only cost competitive but has longer storage duration enabling it to meet both the peaks in a day He said that an Energy Storage Policy is being drafted by the Government of India and there should be knowledge of integrating the storage system into the grid PTI BSM RG RG

Kolkata Nov 29 PTI The Jute Commissioner has rejected the suggestion of the Indian Jute Mills Association IJMA for revising the fair price of raw jute to Rs 7200 per quintal and instead sought a price capping recommendation for finished jute sacking bags The jute mills lobby body had submitted their suggestion to the Jute Commissioner the regulator to revise the fair price of raw jute to Rs 7200 from Rs 6500 after an emergency meeting pursuant to a high level meeting in the state secretariat in presence of the West Bengal Chief Secretary As decided in the meeting convened by GoWB you are again requested to forward your proposal on maximum price cap in absolute terms in Rupees per 100 bags for consideration You may appreciate that fixation of maximum price is a regulatory function of the Jute Commissioner and once a maximum cap is imposed by publishing a gazette notification the same is binding and cannot contain any variable element in the cap price itself the Jute Commissioner said in a letter to IJMA It was unambiguously decided in the meeting that IJMA will forward the maximum price of jute bags which is proposed to be fixed in lieu of fixation of price of raw jute which is presently in force for consideration of the appropriate authority This was accepted by the representatives of IJMA who were present there the regulator said in its letter The Indian Jute Mills Association has refuted the claim of Jute Commissioner that mills representative had agreed to suggest only price cap of the finished jute sacking bag at the emergency meeting at the state secretariat last Friday IJMA chairman Raghav Gupta told PTI that IJMA had not agreed and sought time to discuss the matter with the larger committee members and get back in a days time which we did and sent our outcome as a proposal agreed among the larger members of the association The IJMA had suggested revising the fair raw jute price to Rs 7200 per quintal from Rs 6500 per quintal taking market realities into account IJMA had submitted their suggestion a day after a high level meeting at the Nabanna the state secretariat in presence of state Chief Secretary Responding to the proposal Jute Commissioner said It is apparent from the above that IJMA in its reply instead of forwarding the maximum cap price forwarded a complex proposal linking it again with price of raw jute and several other variables which was discussed but was not agreed to in the meeting itself and a consensus was reached that IJMA will forward its proposal on maximum price of jute bags on the next day itself The West Bengal government sought mills suggestions as it cannot allow unabated price rise of foodgrain jute sacking bags and the lobby body presented a method that allowed market driven price of raw jute with a ceiling as the Rs 6500 price cap has faltered creating a shortage in supply to mills The West Bengal government had also agreed to carry out massive dehoarding drive to unlock raw jute supply for the mills PTI BSM RG RG

Kolkata Nov 28 PTI The Indian Jute Mills Association IJMA has suggested to revise the fair raw jute price to Rs 7200 per quintal from Rs 6500 per quintal now fixed by the regulator Jute Commissioner The IJMA had submitted their suggestion after an emergency meeting pursuant to a high level meeting at the Nabanna the state secretariat in presence of state Chief Secretary The West Bengal government had sought their suggestions as it cannot allow unabated price rise of foodgrain jute sacking bags IJMA members understood the sentiments of the government that unabated rise in price of raw jute leading to consequent rise in price of jute bags cannot be permitted Hence IJMA would like to propose that the purpose of computation of B Twill prices maximum price of raw jute TDN3 ex-West Bengal Kolkata landed may be considered at Rs 7200 per quintal IJMA sources told PTI They said despite fair price fixed by Jute Commissioner at Rs 6500 but landed cost to mills is Rs 7000 as jute balers were adding Rs 500 as transportation cost and hence industry was deprived to get raw material at the announced fair price and urged the government to consider this in computation of the final sacking bag The mills body also pointed out that since market forces will be allowed to function freely in raw jute trade and at some point the prices may fall below the proposed maximum price of Rs 7200 per quintal the lower raw jute price shall be considered for B Twill price computation IJMA suggested this proposed arrangement should remain valid up to the end of the current jute year ie 30th June22 Several meetings had already taken place on the prevailing crisis and West Bengal had taken up with the Prime Ministers Office and Ministry of Textiles on IJMAs request for review of the price cap notification and also on the question of sustainability of such order Meanwhile there had been protests against the Jute Commissioners order on jute stock limit for various types of traders PTI BSM RG RG

Kolkata Oct 31 PTI With Indian jewellery market already on the robust recovery path the jewellers are expecting strong Diwali sales in the Dhanteras as the festive mood remains high with low Covid third wave possibility and softer gold price this season The industry expects the trends in 2021 will be able to reach pre-covid level sales of 2019 on the back of gold price hovering at Rs 46000-47000 per 22 carat 10 grams gold nearly 5 per cent lower than 2020 and jump in number of weddings a senior official of an industry body said Since Navratri market is showing demand It will continue on Dhanteras also This year the festive mood is strong with the pandemic remaining under control lower gold prices and strong wedding season This year October-November months will account for 40 per cent of yearly sales All India Gems and Jewellery Domestic Council chairman Ashish Pethe told PTI The national apex body of the gems and jewellery industry expects that in 2021 the industry will be able to revert back to pre-covid pandemic year of 2019 However gold price rules nearly 20 per cent higher over 2019 levels Sales are expected to get back to pre-Covid levels with an increase of 15-20 per cent from last year This years jewellery buying trend has been about living life large After two years of mental anxiety and challenges customers want to spend and invest in jewellery for happiness and asset building Senco Gold and Diamonds Ltd CEO Suvenkar Sen said World Gold Council India managing director Somasundaram PR said We expect this quarter to be one of the best in recent years benchmarked to pre-covid seasons Pent up demand soft prices and good monsoons combined with easing of lockdown across regions bodes well for a strong surge in demand The demand for gold in India jumped 47 per cent year-on-year YoY to 1391 tonne as compared to 946 tonnes in the year ago period higher than 2019 the World Gold Council said Gold jewellery demand in India during the JulySeptember 2021 period surged 58 per cent YoY to 962 tonne due to strong pent-up demand The demand for gold in India has bounced back sharply from the lows seen during the Covid pandemic in 2020 E-commerce sales craze is expected to be lower than 2020 as panic of infection has subsided and light jewellery will be transacted online We expect five per cent of our sales happening online Light jewellery will be sold online while heavy ones will be from stores Sen said During Dhanteras digital gold and investment through Exchange Traded Funds have gained momentum Indian gold ETFs continue to net inflows worth taking year-to-date flows to USD 433 million While global gold backed ETFs saw net outflow in September PTI BSM RG RG

Kolkata Oct 26 PTI West Bengal Labour minister Becharam Manna on Tuesday offered to form an expert committee involving all stakeholders including government officials mill management and labour representatives to deal with the problems of the jute industry The stakeholders also echoed in support of the proposal at the meeting The expert committee will deal with issues of the jute industry with labour welfare and mills viability Labour unions raised the issue of inadequate wages housing problems and welfare schemes Mill management officials vouched for allowing women labourers at night shift and called for labour reforms Manna assured that the state government is committed to resolving the issues and sought the support of all stakeholders to help the jute industry flourish in the state PTI BSM RG RG

Kolkata Oct 24 PTI Panasonic India after a strong September quarter is hopeful of robust demand during the festive season with Covid infection remaining under control a top company official said The company was also planning to invest Rs 300 crore to manufacture compressors and heat exchangers under the countrys production linked investment PLI scheme We have seen a growth of 18 per cent in June-September quarter 2021 versus last year and we expect to maintain this growth momentum throughout the season We are hopeful that this festive season will bring in the much awaited festive cheer for the industry Panasonic India Chairman and CEO Manish Sharma told PTI A shift in consumer behaviour from price consciousness towards quality and value proposition We have expanded our home appliance segment with the launch of 43 new models of refrigerator and 24 new models of washing machine to meet the rising demand ahead of the festive season he said Asked about supply chain disruptions Sharma said in terms of inventory the company has sufficient stock to cater to consumers throughout the festive season However rising container prices due to the higher cost of inward freight in the last few months have resulted in a price increase of ACs and refrigerators by 4-5 per cent in July 2021 Despite lots of noise and reports of growth of e-commerce in the past few months offline continue to generate lion share of its sales and the company remains geared with robust omni channel strategy he said Although the online channel has grown the offline channel continues to play an important role in sales the company said Meanwhile Sharma said To provide impetus to manufacturing in India the PLI scheme is a progressive step that will help the industry achieve the governments vision of Make in India Panasonic has made an investment proposal of Rs 300 crore to manufacture compressors and heat exchangers Panasonic Life Solutions India a wholly owned subsidiary of Panasonic Group has invested close to Rs 300 crore in setting up the electrical equipment material and wiring device manufacturing facility at Sri City in Andhra Pradesh The unit will be operational soon PTI BSM RG RG