October 2018 ISSUE | Vol. 32 Lifelines of Transport: DIESEL & PETROLEUM The Indian Scenario UPCOMING EVENTS: Hyderabad Comic Con | Diwali Shopping Festival 2018 | Kitchen India Expo | TREDA Property Show | Maker Faire Hyderabad | ICE Cold Chain Expo 2018 | India Furniture Expo 2018 | HOA Vista 2018 | Fire India 2018 | India International Travel Mart | Poutry India 2018 © All rights reserved. ‘Point of View’ is a bi-monthly from HITEX. www.hitex.co.in DOUBLE-KA-MEETHA Double-ka-Meetha, a popular Hyderabadi dessert, is a bread pudding of fried bread slices soaked in hot yderabad, with all its heritage and beauty, is known as the milk, sugar syrup with spices, including saffron and cardamom. Double-ka-Meetha is a favorite among HCity of Nizams. Along with its several monuments, the other desserts and is a must at weddings and parties in Hyderabad. Double-ka-Meetha refers to bread, called city offers a rich cuisine and shopping options to locals and “Double Roti” in the local Indian dialects and meetha is travellers. Hyderabadi cuisine is a wonderful combination of the word for sweet – hence the name. Persian and Moghlai traditions. When visiting Hyderabad, one Shopping traditional articles and accessories in Hyderabad cannot miss the delicacies the city offers. LAAD BAZAAR Laad Bazaar or Choodi Bazaar is a centuries-old market popular for bangles, especially Hyderabadi lacquer bangles studded with stone, pearls, semi-precious stones, jewellery and bridal wear. The bazaar is located on one of the four main roads that branch out from the historic Charminar and reflects the charm and festive spirit throughout the year. Few Dishes from the Cuisine of Hyderabad PERFUME MARKET Situated between Laad Bazaar and Moti Chowk is the Perfume Market. As the name suggests, it’s perfumes BIRYANI and more perfumes that you will find here. One can shop Hyderabadi Biryani, a delectable dish made for wide varieties of ittar (perfume in Urdu) or regionally with rice, spices and meat/vegetables, is a produced perfumes that come in beautiful glass vials. craze among people of all ages. Made usually with the finest variety of basmati rice, this variant biryani is cooked slowly in a tighly BEGUM BAZAAR closed vessel so as to seal in the aromas of a Begum Bazaar is large wholesale market, one of the plethora of spices and condiments. oldest and traditional shopping areas and the biggest commercial market in Hyderabad. Besides shops for clothes, household commodities and brassware, it HALEEM also houses the second-biggest fresh fish market in Haleem is a delicacy that assumes added Hyderabad. Begum Bazaar is a must-visit for its beautiful significance if it is prefixed with the term buildings and multi-cultural ethos, and has shopkeepers Hyderabadi. The cooking of Hyderabadi and residents from all over the country. Haleem is an art that few have mastered. Haleem is a stew made of wheat, barley, meat, lentils and spices. The dish is slow cooked for Laad Bazaar, Perfume Market and Begum Bazaar are located in the old city area of Hyderabad CITY ATTRACTIONS about six hours nicely blending all the flavors. and you can easily reach there by local buses, auto rickshaws or metered taxis. These fuels power the world and we can’t deny the fact that Message from COO the market dynamics of these fuels have direct impact on the economy. Oil and gas hold immense importance in our daily In India, we are witnessing some of the toughest days for fuel lives. The entire world leans towards Fuel. And, trade with fuel prices touching the highest ever numbers. There India is no different. Our planet is enriched with is an increasing need to get the fuel prices under control to lessen mixture of fuels, crude oil, natural gases and several the cost traders and commuters are bearing. As one of the fastest other needful resources. Among others, crude oil growing economies in the world, India needs to find answers to is the most important and highly desired because the problem of fuel prices that can affect its economic growth, if crude oil gives us our everyday fuels – diesel and not handled correctly. petrol. One of the major solutions is to be self-dependent and self- Diesel and petrol are lifelines for public, trade and sufficient. As a nation, we still depend on huge imports of crude personal transport. oil and it’s time for us to start exploring new resources, produce Diesel is an important element of economy as more fuels and cut down imports as much as as possible. most of the products in the trade are transported Speaking of HITEX, events in the last two months have catered by trucks and trains run by diesel. It also runs our to several segments of the industry from plastics to pharma, from cars, construction and farm equipment, ships and sports to construction and architecture, from cable television submarines. As a transportation fuel, diesel offers and internet services to corporate gifting and from industrial a wide range of performance, efficiency, and safety equipment to jewellery and lifestyle products. The diversity of features. events at HITEX is what makes it one of the most preferred venues On the other hand, petrol is common man’s fuel. in India for events of all statures. We have some of the biggest Majorly used for personal transport, petrol has events coming in the next two months at HITEX. been transforming individuals’ lives and keeping Let’s look into more updates on these and what’s happening in them on the move. Petrol succeeded to improve HITEX in the pages inside. the mobility of the middle class and it has changed the way we commute. K. V. Nagendra Prasad COO, HITEX 04 Point of View bi-monthly | October 2018 Issue | VOL. 32 www.hitex.co.in 05 Lifelines of Transport - DIESEL & PETROLEUM The Indian Scenario With petroleum and diesel prices in India Natural Gas Corporation (ONGC), Oil In- The slump in oil prices globally in 2014 pushed increasing on a daily basis, vehicle owners dia Limited and state gas utility Gas Au- prices in India below the levels set by the govern- BURDEN FROM and commuters are worried. thority of India Limited (GAIL) also have ment. So, when India got rid of price controls that IMPORTS been paying to subsidize fuel prices, to year, local prices actually fell. During the continued Import volume of crude oil With moderate prices of crude oil, con- the tune of $10 billion, by selling crude descent of crude oil prices, rather than passing on in India grew substantially sumers in most parts of the world are en- and fuels to the state retailers at discounts. the entire reduction to consumers immediately the from 171 MMT in 2012 to joying pain-free visits to the fuel stations. government opted to add tax and meet the bur- 213 MMT in 2017. Imports Unfortunately, that’s not the case in India. Petrol is the primary fuel used for cars and den it has been bearing to subsidise fuels. As the during April - November The oil pricing gets complicated for India two-wheelers. Higher prices of petrol af- oil prices began to rise again, consumers started 2017 was 144.7 MMT valued due to the fluctuating strength of rupee fect people who commute by their cars to feel the pinch doubly with the tax still in place. about $ 51.1 bn, growing by against the dollar. and two-wheelers. IMMEDIATE SOLUTIONS 9.31 per cent quantity and Diesel makes up to about 40 per cent of Oil and gas occupies approximately 35 15.3 per cent in value com- We could reinstate the formula for subsidizing die- all oil products consumed in India, and per cent share in India’s energy consump- pared to the same period of sel and petrol by bringing upstream companies is the most important fuel for consumers tion. India is the third largest energy and 2016. to share a part of the burden. Currently, prices of and trade transport. Diesel also has a trick- oil consumer in the world and the fourth diesel and petrol are set using a complex formula The demand for petroleum le-down effect on inflation. Higher diesel largest importer of liquefied natural gas under “trade parity price,” based on what the gov- products is expected to prices result in more expensive freight mak- (LNG). ernment terms or the estimated price of the fuel if reach 244,960 MT by 2021- ing transportable goods more expensive. Consumption of petroleum products in the ratio of imports and exports is 80:20. 22 and India aims to cut Until they were called off in 2014, subsi- India stood at 183.5 MMT (million metric The government is said to have asked the state- down oil and gas imports dies on diesel were helping keep its price tonnes) in FY 2015, 184.6 MMT in FY 2016 owned oil marketing companies to bear some of the dependence from 77 % to under control. State-run explorers Oil and and 193.75 MMT in FY 2017. burden and not pass higher costs on to consumers. 67% by 2022. 06 Point of View bi-monthly | October 2018 Issue | VOL. 32 www.hitex.co.in 07 The government is reportedly now con- ONGC is investing Rs 920bn ($14.15bn) in sidering a ‘windfall tax’ on all oil produc- 35 major projects, including 14 to bring new ers in the country, public and private sec- finds to production and six to improve re- tors alike, in an attempt to moderate fuel covery from ageing fields. The organisation prices that have continued to scale new is also planning to almost double its natural heights.