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The Times of , New Delhi, Monday,April 21, 2003

Detection talk Dressing down Auto concept RadNet, a cellphone that India’s garments exports grew 1.4% GM China’s AUTOnomy can detect radiation in the in quantity terms at 1,285.1 million concept vehicle. The car surroundings. The cellphone also pieces in 2002-03 against 1,267.4 m sports a new technology that has the capabilities of a personal in the last fiscal. However, it rose by allows steering, breaking and digital assistant, Internet access and 7.92% in value terms at $47.7 bn other controls to be operated a global positioning locator against $44.2 bn in 2001-02 electronically rather than mechanically

KAUTILYA MARKET Aussie, US spat over Iraq deals MUSINGS Marwari men, Sydney: Australia and the United States Reconstruction drama US growers are muscling in on under the —the staunchest of allies during the war guise of providing aid. “We have been Non-action and in Iraq —are shaping up for a hotly-con- •Australia opposes US plan to dent concerned about the US’s use of a mix- tested trade battle over rebuilding the the lucrative Iraq wheat market ture of aid and commercial services to money & matters war-ravaged nation. break into new markets,” Agriculture Trade issues are expected to be high on •Australia has a $480 million annual Minister Warren Truss said. “We would economic mess By Jairam Ramesh rupt this unity are enemies of the agenda when Prime Minister John wheat export market in Iraq expect the US to respect the markets that The irrepress- their country and their commu- Howard visits Bush’s Texas ranch early we have in Iraq.” ut for the inability of our political ible Sarojini nity alike.’’ Could there be a next month to discuss the post-war Iraq. •US farm lobby will pressurise to Alan Tracy, president of American class to get its act together, as Chi- Naidu once told more eloquent statement on Howard has been urged by Australian get American wheat into Iraq wheat lobby US Wheat Associates, was Bna has done, and work for the bet- Gandhiji-Bapu, if Indian secularism than this? businesses to seek assurances US firms unrepentant, promising the Australians terment of the people of the country, only you knew Adhar alludes to the unusual- will not receive preferential treatment on and then ultimately an Iraqi administra- a tough battle in the Iraqi market.”When there is a good case for bullishness. Our bureaucrats and politicians, however, what it costs the ly warm friendship between rebuilding contracts and issue a “hands tion, we just expect to see a fairly operat- that time comes, hopefully sooner rather Jinnah (and his sister Fatima) mess things up either through inaction, country to keep off” to US farmers intent on taking a ing market.” than later, the US will cede the market to you in poverty! and Dalmia—a most unlikely share of Australia’s lucrative wheat mar- incorrect action or inverted action! That With the role of the UN in the rebuild- no one,” he said. “The Australians have Now, we have a clearer pic- duo to find mutual common ket in Iraq. Howard said earlier this is because their focus is not on the eco- ing process still unclear, US Commerce forgotten that Iraq was one of America’s ture. BR Nanda’s In Gandhi’s ground. Jinnah is demonised in month that his government’s approach to top markets before we led the efforts to nomic well being of India, but more on Secretary Donald Evans said all coalition Footsteps: The Life and Times of this country. How many will re- reconstruction would proceed “with a kick Saddam out of Kuwait.” votes and on notes. countries should be able to play a role in Jamnalal Bajaj, Medha member that in 1916 Sarojini very clear eye to Iraq’s long-term future, New South Wales state agriculture Take the truckers strike, for example, Kudaisya’s The Life and Times of Naidu hailed him as the ambas- but also to our national interest in terms rebuilding Iraq. But opposition trade minister Ian Macdonald said the Howard one that is costing a manufacturing loss GD Birla and Neelima Dalmia sador of Hindu-Muslim unity? of peace and security and commercial in- spokesman Craig Emerson said it was government had to ensure Australian in- of Rs 1 billion. per day. Their main com- Adhar’s Father Dearest: The Life And that three days before Pak- terests”. clear Australia would face an uphill bat- terests were protected. “The US has nev- plaints are two; one they want to be ex- and Times of RK Dalmia, shed istan formally appeared on the Trade Minister Kark Vaile was more tle to win Iraqi contracts over US rivals. er exported significant quantities of empted from the VAT regime (indicating new light on the close links, world’s map, speaking to its con- blunt. “We are prepared to compete with The main bone of contention is Aus- wheat to Iraq but undoubtedly there will that they are prone to evade taxes) and financial and otherwise, that stituent assembly, Jinnah had the Americans,” he said. “When there is tralia’s $480 million a year wheat export be pressure from the US farm lobby to get two they don’t want the Supreme Court diktat to discontinue vehicles more than existed between the Indian declared: ‘‘....in the course of an interim administration established, market in Iraq, which Australia argues American wheat into Iraq.” AFP industrialists and politics. time Hindus would cease to be 15 years old, for environmental reasons. AFP Today, this nexus might even Hindus and Muslims would Earlier, traders and small retailers also be called ‘‘crony capitalism’’, cease to be Muslims, not in the Rajah Beedi set to protested the VAT regime and the nation- but that would be grossly unfair religious sense, because that is wide launch of it has been postponed. to our founding fathers, men of the personal faith of each indi- The reason is votes -with several state highest integrity and rectitude. vidual, but in the political sense restart auto dream elections coming up, the government is It would also be unfair to the as citizens of the state’’. scared of political repercussions. businessmen themselves whose This is as fine a definition of The plethora of public holidays which By Byas Anand we have witnessed is the result of inabil- support to the Congress before secularism as any.And in one of TIMES NEWS NETWORK independence was motivated those typically sub-continental ity of any government to reduce them, very heavily by altruistic in- ironies, Jinnah’s only grandson, New Delhi: The Guruvayoor ()-based never mind that they cause economic stincts as ‘‘contributions’’ to na- a prominent industrialist of beedi maker Rajah Beedi says it is finally loss. Why shouldn’t it be possible for a bold government to declare a list of 2 or 3 tion-building. Mumbai, is very much part of ready with its long-pending dream to drive national holidays (like Republic and In- Reading these books in the RSS/BJP circuit. into the automobile business. The family- dependence Day) and say, 12 other reli- today’s context would also lead For long, business has been a run enterprise is in the process of produc- gious holidays, to be chosen by the em- to the conclusion that Indian dirty word here. True, histori- ing light commercial vehicles (LCVs). ployees? That way businesses and banks businessmen—like Birla and cally government policy has en- The prototypes of the three- and four- continue to operate, the government is Dalmia—were ardent advocates couraged dishonesty. The tax wheeler offerings have already been pre- not biased against any community and of Hindu communalism as well, system still does. On the other pared. “We are getting the models certified the economy does not suffer. what with their generous under- hand, we continue to have poli- and will then set up a production unit,” said For an example of inability to decide writing of temple cies in the name of protecting Abdul Zuhin, MD of Rajah Beedi. there is none better than the right royal construction, of printing press- labour that have resulted in a The company hopes to commercially mess created in the telecom sector. The es churning out religious litera- The Iraqi dinar-dollar exchange rate has settled around the 3,000-mark in recent situation where you have sick launch the LCVs—to be positioned in the fight between cellular operators and the ture and of cow protection cam- days. Dealers say they are uncertain about the long-term prospects of the dinar. industry but no sick industrial- budget segment—in August this year. A WLL services continues, with TRAI not paigns, to give just three exam- ists. In the past, the shenanigans wholly-owned subsidiary—Rajah Motors— only devoid of the necessary resolve to ples. Apart from Gandhiji him- of Indian capitalists led to the will manage the automotive business. act like an authority but making strange- self, Pandit Madan Mohan ‘‘every time I see an Indian busi- IT investors lose in April This isn’t the Rajah Beedi’s first flirtation ly incomprehensible comments as well! Malaviya was a great favourite nessman, my socialist instincts with the auto business. An earlier attempt As a result consumers suffer the lack of of businessmen of those times come out’’ syndrome. By Vinu Lal and Tina 38,154 crore. Wipro and other sector like steel, the to develop a multi-utility vehicle—dubbed communication and improper service. and Kudaisya details the Chopra Karkhanis But this is fast changing. Indi- Infosys contributed to the returns on tech stocks Kazwa—was a non-starter. A similar flip flop is shown in the case intimate relationship of the Bir- an businesses are in the midst of TIMES NEWS NETWORK fall as the former, which are still higher as the Now,Rajah Beedi has turned its attention of tax exemptions given to North Eastern las to this venerable founder of a sociological transformation. had a market cap of Rs steel sector on an average states to encourage setting up of manu- the Hindu Mahasabha and of Mumbai: It was a disap- to the commercial vehicle segment. “With There is a fresh generation con- 31,002 crore in March, would give a net profit this segment booming, we feel it will be ide- facturing bases. Tobacco companies have the Banaras Hindu University. scious of both corporate respon- pointing April for tech- savvy investors. Within a saw its value fall to Rs margin of 12-13 per cent,’’ al to mark our entry into the automotive apparently misused the provisions which Malaviya is seen to be Hindu sibilities and social imperatives. 22,164 crore and that of a fund manager said. ‘‘Se- arena,” says Zuhin. are now sought to be annulled retrospec- This will accelerate with greater short span of 20 days, in- revivalist. But it was Malaviya Infosys dipped to Rs lect technology compa- Rajah isn’t alone in its quest to rub shoul- tively. Retrospecticity of amendment of who once wrote in his newspa- competition and globalisation, vestors in top 10 technolo- 19,225 crore. nies will continue to out- ders with global automotive giants. Many laws is undesirable; it simply saps in- per Abhyudaya: ‘‘India is not a as well as with market-friendly gy stocks, including In- fosys, Wipro and Satyam, Fund managers said perform the sector but have tried and ended in the scrap heap of In- vestors’ faith. Little wonder then that In- country of the Hindus only.It is regulation. Government is get- dia gets a tenth of China’s FDI and a frac- have seen their assets de- FIIs provided some buy- the sector itself is wit- dia’s auto mart. To name a few,Sunrise Auto a country of the Muslims, the ting out of business and that is tion of the indirect investment flows from pleting by Rs 40,000 crore. ing support at lower lev- nessing a lot of volatility (otherwise known as Auto of Badal Christians and the Parsees too. good. But now business has to FIIs. We just haven’t got our act together. An analysis said, these els and there have been due to external market and Dolphin fame) and Standard Motors, The country can gain strength get out of government and that What does all this inaction, inverted ac- stocks, which had a mar- substantial delivery- conditions like pricing makers of Standard 2000. And of course and develop itself only when the can happen when more trans- tion and incorrect action mean for in- ket capitalisation of Rs based transactions in the pressures and growing there were a host of wannabe sportscar people of different communities parent systems of financing of vestors? It means less investment last few trading sessions. domestic competition,’’ makers like Lakshmi Cord Clothing from of India live in mutual goodwill political parties are put in place. 79,213 crore as on March interest. J Mulraj and harmony. Those who dis- [email protected] 31 lost their value heavily ‘‘If we compare the tech said a Motilal Oswal Se- Coimbatore, DLC Sagitta from Mumbai and by April 20 to touch Rs sector stocks with any curities official. Overseas Concept of Chandigarh. EXECUTIVE DIGEST Cola crusade comes to Africa FIIs net buyers in AFP NATIONAL equities: The foreign institu- Dakar: Sarr Elyse took a sip Keeping the faith?: tional investors (FIIs) were net from a plastic cup. Like an ex- SBI eyes Rs 9,000cr BOSS KV Kamath-led ICICI buyers in equities at Rs 34.3 perienced wine taster, she INC growth: SBI has set a Bank has set up a crore while abstaining from swilled the dark liquid growth target of Rs 9,000 panel to probe the any activity in debt market around in her mouth then rumour that caused a crore for its personal banking during the trading week end- swallowed. mini-run recently. But segment, including Rs 5,000 ed April 18. Mutual funds also “I love Coca-Cola and this isn’t the problem poor crore in housing loans, during netted purchases in equities is not Coca-Cola,” she said depositor faith the fiscal 2003-04. “In 2002- and debt at Rs 24.47 crore with a slight grimace. in the country’s 03, this segment recorded a and Rs 183.29 crore respec- It certainly wasn’t and rise of Rs 6,644 crore at Rs banking system? tively in the period under re- that’s the point of Mecca- 24,349 crore over the previ- view, according to SEBI. FIIs Cola—a soft drink named af- ous fiscal, bolstered mainly recorded net outflows of Rs ter Islam’s holiest shrine and by the housing category, and 287.6 crore on the first day of created to protest against US in the current year, we have the trading week followed by foreign policy in West Asia. set a higher target of Rs 9,000 netting purchases of Rs 94 crore”, a top SBI official said. Senegal is one of the first Market mayhem: After Infosys, it was crore and Rs 227.9 crore on Housing loans were up by Rs sub-Saharan African coun- Wipro’s turn to bleed the bourses. Even April 16 and 17 respectively. 3,951 crore at Rs 12,150 tries to put Mecca-Cola on as some Old Economy firms made hay, On the debt front, the foreign crore in FY-03, he said. the market, and it’s an obvi- don’t count out the return of the IT funds did not indulge in any ous choice. The population is Makah Cola is being touted as a replacement for Pepsi and Inflation dips to 6.17%: bluechip firms. transaction. Coca-Cola in Pakistan. Aeronautical Society’s 95 per cent Muslim and oppo- The inflation rate slipped to sition to the war in Iraq has ing stupid, drink with com- Cola Co., based in Atlanta, 6.17 per cent in the week end- new executive panel: The been more vocal here than mitment.” Fardoun’s son has not commented directly ed April 5 from the 2-year high Aeronautical Society of India Long vacation: After elsewhere in the region. of 6.24 per cent a week ago, has nominated the new exec- Ibrahim says the advertising on its upstart rival, but said transport anchorman BC Thousands took to the despite rise in prices of fruits utive committee for its Delhi campaign has not yet started on Wednesday in announc- Khanduri’s efforts to and vegetables, edible oil, ce- branch, with Ajai Kumar, di- streets to protest against the because posters have not ar- ing its quarterly results that soothe the truckers ment and transport equip- rector (Aeronautics), DRDO as fighting in Iraq, and now rived from France, but he has it had not been significantly failed, the week-old ment. A fall in prices of naph- its chairman for 2003-04. In- Mecca-Cola, which has sales high hopes for word-of- hurt by a rise in anti-US feel- stir now threatens to tha, furnace oil, textile prod- dian Air Force representative of about 5 million bottles in mouth marketing. ing in some parts of the wreck manufacturing ucts, paper and machine tools GS Bhatura has been ap- Europe, will gives thirsty Elyse is one of the first to world recently. activities across India. checked the rise in inflation, pointed vice-chairman, while Senegalese a thought-provok- taste the new beverage at a The first shipments of Worried companies have which was only 1.5 per cent a Debasis Saha, manager ing, alternative thirst slaker already started searching tiny shop in the city centre. Mecca-Cola have been deliv- year ago. The inflation might to the US brand. for alternative distribution (scheduling and support serv- Unfortunately for Fardoun, ered to the African countries come down in the coming channels. ices) Air Sahara is among the “Being a Muslim, I was at- she is Catholic, and a little of Mauritania, Libya and Su- weeks if fuel prices fall in tan- other members of the tracted by the name Mecca- reticent about whole-heart- dan as well as Senegal. A dem with global oil prices. committee. Cola,” said Hassane Brahim edly backing the political spokeswoman in Paris said Fardoun, the businessman viewpoints behind Mecca- the company expects to ship behind the drink’s distribu- Cola’s existence. to Gabon and Mali in the INTERNATIONAL A job seeker scans OPEC will try to stabilise duction quotas fixed in tion in Senegal. “I will do my “Why not Roma-Cola?” she coming weeks. A bottling situations-vacant oil prices: OPEC members March. Most OPEC members best to penetrate the Sene- said, sounding a little miffed. plant has opened in Morocco ads in Kuala will take steps to stabilise oil have been producing at maxi- galese market with this new Mecca-Cola has already where the cola is being dis- Kodak sales in China to mum capacity to keep sup- Lumpur. The SARS prices when they meet next product.” The drink’s launch found fans in Africa and else- tributed in five districts in be hit due to SARS: The outbreak is crippling week, with a target price of plies plentiful during the war. US-based film giant Eastman coincided with increasing where. Casablanca. “It’s doing better Malaysia’s lucrative $25 a barrel, Algeria’s oil min- But some oil ministers fear Kodak expects sales of its popular opposition to US for- The cola with a crusade is than we expected,” said tourism industry as ister said. Worried about a OPEC might be oversupplying consumer products such as the market just as demand eign policy and the first six- the brainchild of French Omar Elalami, president of hotel occupancy possible price crash, oil min- film and disposable cameras starts falling to seasonal low. packs of Mecca-Cola were de- businessman Tawfik Math- Mecca-Cola, Morocco. rates plunge and isters for the OPEC plan an livered to two shops in Sene- to suffer due to the outbreak emergency meeting on Thurs- louthi, who launched the Elalami says Mecca-Cola is workers face gal’s capital Dakar the same of the SARS virus that has day in Vienna. Oil prices have drink in November in sold at the same price as that layoffs. ET INSTA POLL swept through much of Asia. fallen sharply since peaking at week US troops stormed France. The drink is sold in charged by “the Americans. While the impact on its busi- Yesterday’s results: Baghdad. More will follow if tity, the tens of thousands of consumer business that almost $40 a barrel on Febru- several European countries As this is a quality product, ness is still an unknown quan- Should strikes be banned it sells well. and West Asia as well. we don’t see why we should tourists avoiding Asia since would be affected,” said Petit. ary 27, before the war in Iraq. in ndia? the outbreak of SARS are “But when you see that all re- “Prices will be stabilised,” Al- At first glance, the 1.5-litre Mathlouthi, who is origi- cut the price.” Mecca-Cola is bound to hit sales in the re- tail sales in Hong Kong are gerian oil minister Chakib Yes 76% No 21% Mecca-Cola bottles look just nally from Tunisia, says 10 not unique. There is a wide like Coca-Cola. But closer gion, chairman and president down by 40 or 50 per cent, Khelil said. “Our objective re- • The poll reflects the opinions of Net users per cent of the profits will go range of similar ideological who chose to participate, and not necessarily of study shows a green mosque, to help Palestinian children drinks, like Muslim Up or of Kodak Asia, Henri Petit, that’s big,” said Petit. Kodak mains to maintain prices in the general public. said. “We are trying to assess entered China 10 years ago, the range of $22-28 a barrel Arabic writing on one side and another 10 per cent to British-based Qibla-Cola, Today’s question: and the sales pitch in French ourselves what the impact will growing market share fast, and, if possible, around $25.” Has the truckers’ strike affected European charities. whose Web site cries “Liber- be, but at this moment we are taking a dominant position He said OPEC members your personal finances? and Arabic: “No more drink- Soft drink behemoth Coca- ate your taste”. Reuters still guessing ... it’s mainly the over arch rival Fuji of Japan. would decide to return to pro-

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