BUSINESS

HOME
Aviation
Art & Culture
Business
Defence
Foreign Affairs
Communications
Environment
Health
India
Parliament of India
Automobiles
United Nations
India-US
India-EU
Entertainment
Sports
Photo Gallery
Spiritualism
Tourism
Advertise with Us
Contact Us

 

Google
 

SIAL China expo can help India increase F&B exports: Tribhuvan Darbari

By Deepak Arora

NEW DELHI, Jan 19: SIAL China, Asia’s largest Food and Beverage Exhibition, offers opportunities for improving Balance of Trade between India and China. The three-day exhibition, to be held from May 5 at Shanghai, can help fulfil Indian Prime Minister Narender Modi’s vision of developing F&B exports to China, thereby reducing the trade deficit between the two nations as well developing trade links with the 60 plus countries represented at the event, according to Tribhuvan Darbari, Director General of the Chindia Chamber of Commerce.

Tribhuvan Darbari said that Food and Beverage as an industry is often overlooked when considering Indo-China trade. It offers a range of opportunities that Indian importers and exporters can capitalize on for future development.

He explained that greater Indian participation at SIAL China can help develop F&B exports to contribute to Prime Minister Modi’s vision of redressing the balance of trade between the two countries.

Darbari further mentioned, “India should play to its strengths. We are the leading producer of milk in the world and transformed products such as milk powder or ice cream can be considered for export to China. Export of spices, beverages, confectionary, fresh and processed specialty fruits such as mangoes can also be developed.”

Bjoern Kempe, Exhibition Director, SIAL China, informed that over 2,900 exhibitors and 66,000 visitors are expected at the event. He said that China is world’s largest consumer market and its food market is forecasted to exceed 1.73 trillion USD by 2018.

He said “Chinese are savvy consumers and are interested in products that are high quality, exotic, safe and novel. Oils, animal and vegetables fats, sea food, dairy products, cereals, wine, sugar, beer and poultry, are some of the major Chinese food imports."

Kempe said "Indian participation at SIAL China should diversify into the strength of the agro-processing industry. Grocery, Beverages and Confectionary products are some of the areas in which Indian processed foods could excel. As a developing agricultural powerhouse, India is well positioned to supply China for its import needs.”

He also added that at SIAL China, the Indian visitor will be able to discover gourmet products from a range of 60 participating countries, “SIAL China is an ideal platform to identify new and exciting ingredients that could be served in Indian households in the future”.

As India’s food and beverage ambitions evolve, events like SIAL China are even more ideally situated to provide opportunities for developing imports and exports in this key industry sector.

Antoine Lewis, Food and Wine writer, said “SIAL China is the largest F&B trade event in Asia and 65% of its exhibitors are international. Trade can be developed with any of the 60+ countries represented at the exhibition. SIAL China is ideally placed suited to cater to the changing requirements of food consumption in India.”

Banks to use non-core assets for capitalisation as they brave stress, says SBI chief

NEW DELHI, Jan 12: Allaying concerns over inadequate capitalisation of banks reeling under the stressed assets, State Bank of India (SBI) Chairperson Ms Arundhati Bhattacharya today said her bank and several others in the public sector would divest non-core assets for meeting the funding requirement as per the Basel III norms.

Delivering the ASSOCHAM Foundation Day Lecture in New Delhi, Ms Bhattacharya said let people rest assured that the banks would be capitalised both by the government as also through generation of internal resources by sale of non-core assets.

She said as part of the ' Indradhanush ' package of Rs 1,80,000 crore, the government was to capitalise the PSU banks to the extent of Rs 70,000 crore while the balance of Rs 1,10,000 crore was to be raised by the individual banks through different means. At the SBI, the banks has indentified certain non-core asset and some unlisted entities which would be used for raising such resources for measuring up to Basel III norms.

The SBI chief also allayed apprehensions that the journey towards the global banking norms would raise the cost of borrowing.

Answering a question from an ASSOCHAM member over the kind of competition which may ensue with the entry of payment gateways, Ms Bhattacharya asserted, "we have no intention of vacating that space. We will (rather) leverage it to the hilt". She said the SBI with a legacy of 209 years has a kind of trust with the small and retail customers which the new payment gateways would not have. The country's largest bank is opening as many as 70,000 accounts per day through 54,000 Customer Service Points (CSPs) outside the bank branches, operated through channels like the fertiliser dealer or grocery stores.

These CSPs are now being equipped to sell banking, insurance and pension products by way of massive 25,000 training sessions.

Sharing a multi-pronged strategy to deal with the problem of stressed assets and non-performing assets, the SBI chief informed the ASSOCHAM members that her bank would, in about a year, would launch a platform along with the SIDBI and NSE for discounting of bills by traders. The initiative would not only help the traders but also help the bank to reduce the NPAs.

She put the blame for the NPAs on all the stakeholders- promoters, government, lenders and even the regulators. Ms Bhattacharya said promoters were bidding aggressively riding on the back of good times around 2007-08 and some of them were diverting funds out of the well-run units hoping the money flow would continue forever. On their part, the banks extended loans for long duration, as much as 30 years, while hoping the funds would be recovered in 10 years or so. The regulator is to blame for allowing such a dispensation while the government was to take the blame for policy uncertainty like cancellation of telecom licences.

On China, Ms Bhattacharya said the communist country has abundant reserves to capitalise the banks with a swift response.....so "China would not have a hard landing". The problems arose for China as after a scorching pace of growth the county is faced with negative inflows as it grapples with shifting from investment-led growth to consumption led pattern of expansion.

As for the government's financial inclusion programme like the PM Jan Dhan Yojna, she said with the help of unique programme like Aadhar, which is the world's largest biometric programme, the banks would have capture the transaction history of the beneficiaries and then accordingly design finance products for them .

In his address, ASSOCHAM President Mr Sunil Kanoria said, the growing level of NPAs in the Indian banking system is an area of concern. Gross NPAs of commercial banks stood at 5.1% in September 2015, while the restructured standard advances as a percentage of gross advances stood at 6.2% during the same period. The figures are even higher for the public sector banks (PSBs) which account for roughly 70% Indian banks’ assets. Initiatives like the 5/25 scheme and strategic debt restructuring to tackle stressed assets and especially to help companies in infrastructure and core sector to tide over bad times.

Thus, despite the growing NPAs, the scenario is not all that alarming. In fact, about 58% of the impaired assets are due to stalled projects, thus that portion is very much recoverable. In addition, our banks remain well capitalized. RBI has kept the risk-weighted capital adequacy ratio for our banks at 9% and aims to take this figure up to 10.5% by 2019, whereas the figure as per Basel II standard is 8%.

Not a single PSB has capital adequacy ratio below 9%, in fact except for 4 PSBs, all have capital adequacy ratio higher than 10.5%. Net, net, our banks are resilient and still enjoy space for maneuverability, and with corrective action the NPA problem can be mitigated. And now with a new Bankruptcy Code on the anvil, the banks will be better equipped to deal with stressed assets, said Mr. Kanoria.

During the last 2-3 years, use of technology has become integral to banking operations and technology is used for data analysis, understanding of credit needs of customers, customer interaction, etc and even helps banks to offer more focused products to customers. Thus, banking and technology are now inseparable.

This emerging technological landscape in the financial world according to me is the greatest opportunity and at the same time the biggest challenge. Players who will be able to successfully ride the technology curve will emerge winners, while those who will fail to do so will lose out. Some of the banks who have taken the lead in embracing technology are now being equated with ‘technology players with banking license’, added ASSOCHAM chief.

Other who also spoke during the conference were Mr. R N Dhoot, Past President ASSOCHAM and Mr. D S Rawat, Secretary General ASSOCHAM.

Ajman Free Zone Opens office in Gurgaon; To help Indian companies open office in UAE in 24 hours

By Deepak Arora

NEW DELHI, Jan 12: Ajman Free Zone is expanding its global reach to be closer to potential overseas entrepreneurs by collaborating entities internationally and opening offices in the key markets of the Indian sub continent, Africa and the UK.

This was stated by the Director General of Ajman Free Zone, Mr Mahmood Alhashemi, after inaugurating the second office of Ajman Free Zone at Gurgaon in India today. The Charge d’Affaires of UAE, Mr Saed Mohamed Almheiri, Deputy Director General of Ajman Free Zone, Mr Nader ElDesouky, Sales Director Rishi Somaiya and Head of Delhi office Dr Tapas Kumar Chakravarty were also present on the occasion.

Mr. Hashemi said that the opening of AFZ office in Gurgaon is a step towards its commitments to move closer to the customer The North India region which is very important part of the business community of India is the target and customers from the Northern region will have the ease and comfort of dealing with the new Representative office based in the cosmopolitan business district of Gurgaon. The first office of AFZ is already functioning in Mumbai since 2013.

He said that Gurgaon office is a representative office and would assist all customers with work related to formation of companies and related services. The office will mainly be a marketing office bringing the customer closer to the advantage of having operational in the AFZ.

Mr Hashemi said that Ajman Free Zone is also actively considering to open its third office in India at Chennai so that the potential entrepreneurs from south India could also be felicitated for setting up their business in Ajman Free Zone.

He said that opening these offices were in line with the Ajman Free Zone’s accelerated strategic campaign to attract global investors from across the world, which now houses over 14,000 companies.

He said that the focus of AFZ is to attract SMEs in business and trade services. To attract investors, the AFZ is providing a number of incentives and facilities which includes no tax and no custom duty, 100 per cent ownership, smart offices at reduced cost, warehouse facilities, easy payment plans. AFZ is also providing Ajman Digital free zone for companies related to IT, loan facilities from Ajman Bank, assistance in hotel bookings and VIPs services package at Dubai office etc.

 

advertisements

Dental Implants India

Archives
Crystal Lagoons to build largest manmade lagoon in India
India a bright spot with growth rate of 7.5 pc: Jaitley
Exports hit India’s growth story in 2015, fall to be steeper in 2016
GST can be India’s Brahmastra against global headwinds: Sunil Kanoria


         
   

Aviation | Business | Defence | Foreign Affairs | Communication | Health | India | United Nations
India-US | India-France | Entertainment | Sports | Photo Gallery | Tourism | Advertise with Us | Contact Us

Best viewed at 800 x 600 resolution with IE 4.0 or higher
© Noyanika International, 2003-2009. All rights reserved.