“Spiritual and Social capitals are the foundation for the success of family-run businesses,” M.V. Subbiah, Chairman, National Skill Development Corporation and former Chairman of Murugappa Group said.

Speaking on the topic “Family Business – Enlarging the Circle of Trust,” at a meeting organised by the Salem Chapter of Confederation of Indian Industry (CII), here recently, Mr. Subbiah said that like everything in life there were two sides for every coin.

“The common perception of a family-controlled business was it is outdated, sluggish, beset by nepotism, family feuds and too little money.” But the other side was that family businesses were more profitable than the peers, more professional, more resilient and more apt to survive than their rivals.

He also highlighted the policies and processes that were needed to tackle different stages of the ownership in such business ventures.

He pointed out that the entrepreneur was the inventor, the developer and the promoter. “The man who initiates and recognises technical improvements and who succeeds in getting them introduced is the dynamic actor of capitalism and breaks away from tradition of creating an empire for his family members and capturing a paragraph in history books,” he said.

He mentioned that CII was the best organisation to help grow industry and was useful to enhance knowledge of creativity and innovation.

C. Valliappa, Chairman, Sona Group of Institutions said that there was no CII branch in Salem till recently even though it was one of the Tier-II cities in Tamil Nadu.

He said that the involvement of members was important to improve the development of the city with the help of CII.

Source: The Hindu

Declaring this at its 102nd General Body Meeting held here on Wednesday, Mr. Ramadass, who presided over it, said that the bank had deposits of Rs. 1,650 crore out of which Rs. 239 crore were received during 2009 – 2010.

“The bank has provided Rs. 203.54 crore under the Kisan Credit Card scheme loans to 3,83,413 beneficiaries – farmers through Primary Agriculture Co-operative Credit Societites (PACCS),” he said.

He further added that the bank had 60 branches functioning in Salem and Namakkal districts, out of which 31 were having locker facilities.

“It has also given directly and also through PACCS Rs. 38.27 crore of loans to 13,550 SHG women members and provided loans under TABCEDCO scheme to 5,030 beneficiaries to the tune of Rs. 9.84 crore.”

K.C.Ravichandran, Regional Joint Registrar of Cooperatives in his address said that the Cooperative movement was mainly supporting the development of farmers’ Joint Liability Groups and Women Self Help Groups by providing loans through PACCS.

“For these sectors the financial support is given by the Salem District Central Cooperative Bank. It is certain that the rural upliftment is only possible through cooperative sector,” he said.

S.Srinivasan, Joint Registrar, Namakkal, K.Ananthi, Special Officer, TCMS, Banks Auditor Mr.Rathinasababathy and Circle Deputy Registrars of Salem and Namakkal districts, Special Officers and secretaries of Urban Cooperative Banks, PACCS and representatives from member societies participated. Currency counting machines and chest of drawers had been distributed to the 56 PACCS for best performances in both districts.

K.Ramasamy, Bank’s General Manager C.Danajayan, Assistant General Manager and others spoke.

Source: THE HINDU

Dr. Selvaraj reasoned that the rates had to be dropped with immediate effect following stagnation of more than 10 crore eggs during the Pongal season. Closure of government schools that accounts for 70 lakh eggs a day under the Nutritious Meal Scheme amounted for stagnation of 2.1 crore eggs while the Pongal and Makar Sankranti holidays led to stagnation of another eight crore eggs in the retail sector.

According to him it would take a week or more to clear the excess stock and prices could further reduce by 15 paise or 20 paise more during the same period, whereas there was no room for increasing its price in the near future. Daily production stood at three crore eggs and cannot be drastically reduced, Selvaraj added. Price of egg has also reduced in other NECC zones across the country.

Price in other zones is as follows: Mumbai – Rs. 3.24, Kolkatta – Rs. 3.18, New Delhi and Chennai – Rs. 3.05, Bangalore – Rs. 3, Hyderabad – Rs. 2.99, Vijayawada – Rs. 2.97, Barwalla – Rs. 2.96 and Mysore – Rs. 2.86. Prices in Kolkata and New Delhi have dropped 50 paise and 30 paise respectively to sustain the market.

On the other hand normalcy has started returning in the Northern States that accounted for sale of more than 20 lakh eggs a day because of prolonged extremely cold climate. “The North Indian seasonal market sale has dropped by 75 per cent and we supplied only 5 lakh eggs on Wednesday against the 20 lakh eggs a day in the previous week,” he said.

Steady increase in the price of egg from an average Rs. 2.52 in December to Rs. 3.02 till Tuesday is cited as another important factor that commendably reduced sale of eggs, which were seen as a viable replacement for vegetables over the last four weeks.

Poultry farmers said that they face a greater threat in the form of Thai Poosam where sale of eggs would come down heavily as most egg-lovers turn vegetarians during that festive season.

Source: THE HINDU

The intensive cold wave in northern parts of the country that has resulted in increased egg consumption scaled up the price of egg to Rs.2.91 at Namakkal on Wednesday, the highest ever in the egg production hub.

Sources from the National National Egg Co-Ordination Committee (NECC) said that the previous highest price was around 288 and 289 paise about six months ago.

President of the Tamil Nadu Poultry Farmers Association R. Nalla Thambi said that the consumption of the north Indian States has increased by an average five per cent from the usual 10 to 15 percent to 20 percent of the district’s daily production of three crore eggs, since the third week of December.

Noting that Tamil Nadu was no exception to escape the cold wave, he said that the prevailing weather has brought down the production by five percent (more than 15 lakh eggs a day) over the last three weeks.

“Meanwhile, the consumption of the State’s local market has also considerably increased, thanks to the exorbitant price hike of vegetables,” he said.

He pointed out that school children under the State government’s Nutritious Meal Scheme account for consumption of 70 lakh eggs a day.

Kerala with 40 per cent consumption, north India (20) and export (10) have a major share of the market while the rest is consumed by the State’s local market.

Foreseeing that the cold wave in the north could extend till February, he felt that there were minimal chances for drastic change in the prices.

“It could either stand around the same price or increase by a paisa or two, based on the consumption and production graph,” he added.

Source: THE HINDU

Delivering the keynote address at a seminar organised by the ECGC here recently, Viswanathan said foreign trade accounted for 45 per cent of India’s business transactions with 17 per cent imports and 28 percent exports.

Global crisis

“The post September 2008 global crisis has adversely affected India’s International trade and exports have shrunk. Since October 2009, the situation has improved and in 2009-10 the exports were worth 176 billion US dollars, five per cent less than that of the previous year,” he said. During current fiscal, till August, exports had recorded a healthy 29 per cent growth over the corresponding figures for the previous year. The growth could be attributed to some economic recovery in the target markets.

In monetary terms the export value stood at $ 85.27 billion, Mr. Viswanathan said.

Challenge

However the United Kingdom, the United States and the Europe markets continued to pose a challenge to Indian exports as their economies were yet to show significant revival.

The United Arab Emirates, Greece, Spain Turkey and Italy had run up huge trade deficits and trading with them was a concern.

Defaults and insolvencies not just in the United States but also across the United Kingdom, Europe and the West Asia had posed additional challenge and exporters need to keep a watch on them as many reputed international banks and industrial houses had been forced out of businesses due to mounting losses, he added.

“Many of our exporters think that business failures were not possible since they had been dealing with the reputed buyers for long. But the fact that average corporate life expectancy in Europe and Japan pegged at just 12.5 years is a point to ponder,” he said.

Insurance

It is under these circumstances, that the ECGC had been extending a helping hand to exporters and banks by ensuring that the export receivables of every Indian exporter was protected from credit risks by providing useful credit insurance schemes.

Suranjan Gupta, President of M/s. Madhav Marbles & Granites Ltd, Salem, N. Radhakrishnan, Regional Manager, ECGC, Chennai and Mr. S. Raveendran Nair, Branch Manager, ECGC, Salem participated in the seminar.

Source: THE HINDU

Department of Telecommunications-Government of India, has asked the mobile operators to re-verify their subscribers for completeness of their forms and documents by October 31 in the interest of national security.

In order to expedite the process, the new voice portal 456 has been launched. Through this service, Vodafone customers could call 456 to check the adequacy of their documentation status. If found inadequate, the customers could also get details of the closest Vodafone touch point in order to submit the required documents.

Vodafone has set up more than 500 locations across stores such as Vodafone stores, mini stores and distributors locations and these places would work for extended hours on all working days and Sundays till October 31, 2010. In case of inadequate documentation, customers of prepaid and postpaid connections need to submit documentation proofs (photo, identity and address proof) on or before October 31 to avoid disruption of service.

Source: The Hindu

Source: THE HINDU

Geetha Muralidhar, Executive Director, ECGI, Union Ministry of Commerce, who took part in a meeting of exporters and bankers held here recently, talked about the importance of credit insurance for Indian exporters and banks and how they could extend their support when overseas buyers and banks defaulted. She said the Salem branch had settled claims to the tune of Rs.1.88 crore in the last fiscal.

And during this fiscal, so far Rs.1 crore worth claim had been settled so far.

Earlier, N. Radhakrishnan, Regional Manager, Southern Region-1, welcomed the exporters and bankers.

During the financial year 2009-2010, ECGC, as a whole, had settled claims worth Rs. 641.72 crore.

During 2010-2011, Rs. 245.15 crore had been paid as on date.

Recently ECGC reclassified 60 countries, out of which 13 upgraded and 47 downgraded according to the prevailing economical and political situation in the respective country.

S. Raveendran Nair, Branch Manager, Salem, thanked the exporters for their support to get the best performance award for the branch for 2009-2010.

Source: THE HINDU

Source: THE HINDU

Eggs kept at a poultry farm in Namakkal .

The hatcheries in Namakkal Poultry Zone are gearing up for an additional production of 20 lakh egg units per day to meet the demand of the Tamil Nadu Government, which has introduced eggs for five times a week in its ambitious noon meal scheme. The industry has already been supplying 30 lakh eggs per day for it’s ‘thrice a week’ scheme.

Delighted over the announcement of Chief Minister M. Karunanidhi on Wednesday , the poultry farmers, who have been demanding assistance for the industry’s survival, are now optimistic about its further growth.

The President of the Tamil Nadu Poultry Farmers’ Association R. Nallathambi says that they were ‘very happy’ about the Chief Minister’s announcement since it would keep the industry in good health in the days to come. Saying that the government is procuring major portion of stock from Namakkal, he points out that the grain rotting in the godowns across the country could be sold to poultry farmers at a subsidised cost since the price of raw material for feeds have escalated steeply. “The production cost of a single egg today is Rs 2.25,” he points out.

To supply eggs to noon meal centres in different districts of varying distances, the farmers have to charge a minimum of 20 to 25 paise per egg in addition to the day’s official base price fixed by National Egg Co-ordination Committee (NECC). As per the government stipulations, each egg has to weigh 46 grams and should be neither less nor more. The Zone as on today has nearly 4.40 crore birds. To meet the demand, it has to be replenished with an additional 25 lakh chicks.

To augment this additional production, the farmers have started “placing” new chicks to the existing stock. The sources at Namakkal Zone of the NECC say that hatcheries possessing ‘Parents’ Stocks’ have begun the exercise of producing chicks so that the present gap between the demand and supply in eggs could be bridged.

The Namakkal Egg Zone’s total average egg production per day is 2.61 crore eggs of which the bulk consignment of 70 lakh per day goes to Kerala. The export, as eggs and powder, accounts for 35 lakh eggs per day. The rest are for consumption in the local market including 30 lakh eggs for noon meal scheme, as on today.

Source: The Hindu