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No consensus on Presidential candidate: Fernandes
Bhopal, Jun 12 (PTI) The NDA today ruled out consensus on the Presidential candidate and claimed it was yet to take a decision on the matter.
"The prevailing circumstances do not indicate that a consensus on a Presidential candidate could be arrived at," NDA convenor George Fernandes told reporters here.
To a query, he said the NDA is yet to decide on a candidate and this will be done after mutual discussion.
On India-China relations, the former defence minister said he was skeptical whether the ties could be sustained for long.
"We are not aware of what China wants. Recent events in the northeast suggest that it wants to extend its borders," Fernandes said. When he visited the neighbouring country as a Union minister, it had expressed its willingness to improve relations as it wanted to "become the number one country in the world by 2016", he said. PTI
Circumstantial evidence sufficent for conviction: SC
New Delhi, June 12 (PTI) With direct proof of common intention to a crime by a group of persons seldom available, it is sufficient if the prosecution is able to adduce circumstantial evidence to link them to the offence, the Supreme Court has said.
"Direct proof of common intention is seldom available and, therefore, such intention can only be inferred from the circumstances appearing from the proved facts," a bench of Justices Arijit Pasayat and D K Jain said, while dismissing an appeal of certain accused persons challenging their life conviction in a murder case.
According to the prosecution, accused Manik Das and four others hacked to death one Anil Das in Jorhat district of Assam on December 27, 2000 due to previous enmity.
The Jorhat Sessions Court convicted Manik Das and the four others to life imprisonment after holding them guilty for offences committed under IPC Sections 302 (murder) and 34 (common intention).
Appeal preferred by the accused was dismissed by the Guwhati High Court, following which the accused filed the criminal appeal in the apex court.
The accused took the plea that the prosecution failed to establish their presence at the scene of crime and the witnessess who testified against them were all relatives of the deceased and hence tutored to depose against them. PTI
Agreement reached with UPA over Presidential candidate: BSP
New Delhi, Jun 12 (PTI) BSP chief Mayawati today said an agreement over the Presidential candidate has been reached with UPA chairperson Sonia Gandhi.
However, she declined to divulge the name of the candidate.
"You will soon come to know about it from Gandhi. I will not open the cards," the Uttar Pradesh Chief Minister told a crowded press conference here.
Mayawati said she discussed the issue at length over dinner with Gandhi last night and a final agreement had been reached.
Bahujan Samaj Party holds substantial number of votes in the Presidential election. PTI
National Child Labour Project now all over country
New Delhi, Jun 12 (PTI) On the occasion of the sixth World Day against Child Labour, the Government today announced its plans to expand the National Child Labour Project (NCLP) across the country during the 11th plan.
The scheme, under which children withdrawn from work are sent to special schools, is at present operational in 250 child labour endemic districts in 20 states, Labour Ministry sources said.
They said 7,328 special schools were functioning for over 4.20 lakh children withdrawn from work in these districts.
The special schools, where children withdrawn from work are kept for a maximum period of three years to prepare them to join the regular education system, provide education, vocational training, nutrition, stipend and health care facilities.
Since the NCLP scheme became operational in 1988, nearly four lakh children have been mainstreamed into formal education system, they said.
During the 10th Plan, the budget allocation for the scheme was more than doubled -- from Rs 249.60 crore in the 9th Plan to Rs 602 crore during the 10th Plan -- and subsequently the NCLP projects were enhanced from 150 to 250 districts.
Sources also said that besides the NCLP Scheme, the Government was implementing the scheme of grants-in-aid to voluntary organisations for the benefit of children withdrawn from work in the districts which are not covered by NCLP Scheme. PTI
Chandu Borde appointed manager of Indian cricket team
New Delhi, June 12 (PTI) Former captain Chandu Borde, who was in-charge of the Indian cricket team on the historic 1988-89 tour of Pakistan, was today appointed manager for the upcoming visits to Ireland and England.
The decision was taken by the BCCI Working Committee which met here to discuss South African Graham Ford's turning down the offer to become the India coach among other issues.
Seventy-two-year-old Borde, a leg-spinner all-rounder, played in 55 Tests and scored 3061 runs and took 52 wickets.
He was twice chief national selector, first during 1982-84 and then at the turn of the millennium.
India are to play three ODIs against South Africa in Ireland between June 26 and July 1.
They then contest a one-off one-day international against Pakistan at Glasgow, Scotland, on July 3 before moving to England for a full-fledged series - between July 7 and September 8 - of three Tests and seven ODIs. PTI
Chennai Open squash from tomorrow
Chennai, June 12 (PTI) National Champion Saurav Ghosal starts as the favourite in the fifth ICL Chennai Squash Open to be played here from June 13 to 16.
Besides the top seed Ghosal, ranked 42nd in the world, young stars like Gaurav Nandrajog, Naresh Kumar, Parth Shanrma, A. Parthiban and Harinder Pal Sandhu are the other Indians who would be vying for the top honours.
This edition of Chennai Open, a PSA event, would witness participation of seven players in the top 200, including those from Hong Kong, Japan, Egypt and England, a Squash Rackets Federation of India (SRFI) release said here today.
Last year's winner Ritwik Bhattacharya is not playing this time.
National Squash Coach Cyrus Poncha said the tournament was one of the major platforms for emerging talents to get good exposure.
"With each progressing year of the Chennai Open, it is a display of improved talent and skill by these players," he said in the release.
SRFI Secretary Genral N Ramachandran said: "We want to encourage every player through such championships for better prospects of the game globally," List of players with world rankings: Saurav Ghosal (43), Wai Hang Wong (Hong Kong-92), Dick Lau (HK-117), Neil Hitchers (England-152), Mohamed El Shorbagy (Egypt-165), Yasunori Ishiwala (Japan-185), Gaurav Nandrajog (IND-197), Naresh Kumar (IND-204), Harinder Pal Sandhu (IND-208), Parthiban Ayappan (IND-208)Eddie Charlton (ENG-248), Parth Sharma (Ind-269) and PSA qualifier Max Lee (HK-316). PTI
Clark keeping options open beyond cricket
London, Jun 12 (PTI) He is compared with legendary Glenn McGrath and is nicknamed 'Sarfraz' but new Australian quick Stuart Clark, with back ground as an estate agent and a current student of commerce and law, will not stay in cricket after retirement.
Clark sold houses for about five year before making a late debut in international cricket at the age of 30 and taking 47 wickets in his first nine Tests after picking nine on debut.
The 31-year-old fast bowler said he was keeping his options open on what to pursue after cricket.
"I haven't really made a decision on that yet. I don't think I would stay in cricket as a coach because by the time I finish I would have had enough of being around dressing rooms. But one of commerce, law and real estate should give me plenty of options to go into the workforce and live a comfortable life thereafter," he was quoted as saying by 'bigstarcricket'.
Clark said he was passionate about cricket but worked to make a living as he could not play always.
"I was alright (as an estate agent) but I still wanted to be a cricketer. I was always mindful that one day I wouldn't be able to play cricket and would have to do something else. Unless I became the first man ever to play first-class cricket at 60! So that was the reason I worked," he said.
Clark also enjoys studying hard as it helps him take his mind off cricket. PTI
Prakash eases past qualifier in first round
New Delhi, Jun 12 (PTI) Prakash Amritraj started his quest for a third successive title in style, beating qualifier Shivang Mishra 6-3, 6-4 in the first round of the USD 10,000 ITF Futures men's tennis here today.
With a booming serve and a backhand which sent down some stunning cross-court winners, the fifth seeded US-based Indian was in complete control throughout.
It was smooth-sailing for Prakash from the very first set as he broke Shivang once before pocketing the opener in little over half an hour's time.
Shivang was guilty of committing too many double faults at crucial junctures against an opponent, who was quick to pounce on the errors.
The second set followed a similar script as Shivang continued to struggle with his erratic serves. With most of his forehand returns also landing outside, Shivang stood no chance against the more disciplined Prakash.
Luck also did not go the qualifier's way as a controversial line call made it a double fault in the fifth game to give Prakash a break of serve. Shivang did protest but to no avail.
There was no stopping the fifth seed after that and he wrapped up the proceedings in no time with a flurry of aces and some excellent returns from the baseline. PTI
Sania advances to second round in Birmingham
London, Jun 12 (PTI) Unseeded Sania Mirza carved out a fine 6-3 6-3 victory against Maria Elena Camrin of Italy in the singles first round of the USD 200,000 DFS Classic tennis tournament in Birmingham.
Sania did not have an ideal start to her first match on grass after playing on Roland Garros clay in Paris as she trailed 1-3 in the first set against the world number 66 in the tier III event yesterday.
"You have to expect that, coming off clay and playing on a new surface," said the Indian star after her one-hour 28-minute contest.
"It was my first match and it wasn't one of the easier matches I could have got in the first round. She's a seasoned player. I knew she was going to be tough and there's always a little anxiety when you go on the court on a new surface for the first time," she said.
The world number 42 said she was satisfied that she played important points well.
"In the circumstances I played an alright match. It's not one of the better matches I've played but at the end of the day it's how you play the important points and I think that's what I did better today." PTI
Dhoni retains fourth place in LG-ICC Player Rankings
Dubai, Jun 12 (PTI) Despite his unbeaten 139 in the Afro-Asia Cup final in Chennai, Indian wicket-keeper batsman Mahendra Singh Dhoni remained in the fourth place in the latest LG-ICC Player Rankings for ODI batsmen.
Dhoni, who hit the highest-ever ODI score by a number seven batsman in Chennai, now trails third-placed Michael Hussey of Australia by 10 rating points.
England's Kevin Pietersen still occupies top batting spot with Australia captain Ricky Ponting in second place.
Sri Lanka opening batsman Sanath Jayasuriya's slide in the rankings since the ICC Cricket World Cup continues as he has dropped six places and is now ranked 13th overall.
Jayasuriya's loss means Australia's Andrew Symonds has moved into the top 10.
South Africa's Shaun Pollock has achieved his highest career batting rating following his maiden ODI century in the Afro-Asian Cup played in Bangalore and Chennai last week.
Pollock moves up 12 places and is now in 40th spot in the LG ICC Player Rankings for ODI batsmen after a brilliant 130 off 110 balls in Bangalore.
Pollock, who played in the series as a specialist batsman following minor foot surgery, continues to lead the LG ICC Player Rankings for ODI bowlers as the top 14 places in that category remains unchanged.
Indian spinner Harbhajan Singh, who took four wickets in two matches, drops two places and he's now ranked 15th overall.
Pollock leads team-mate Jacques Kallis in the LG ICC Player Rankings for ODI all-rounders table while West Indies' Chris Gayle is in third place. PTI
EU slaps maximum anti-dumping cases, India relaxes curbs: WTO
New Delhi, June 12 (PTI) The European Union, which portrays itself as the vanguard of free global trade, became the most restrictive bloc in allowing imports, while India, China and Argentina were less harsh in initiating anti-dumping probes against trade inflows in the second half of 2006.
"During July-December 2006, the number of initiations reported by India, Argentina and China declined, while those reported by the European Communities, Brazil and Malaysia increased as compared with the corresponding period of 2005," WTO said in its report.
India launched 12 investigations against imports sought to be dumped on it between July and December 2006, while the EU slapped 17 anti-dumping probes against members of the WTO.
India had initiated the largest number of anti-dumping investigations in the corresponding period of 2005, followed by China and Argentina.
Interestingly, the number of probes initiated by the EU has almost doubled from 9 in 2005 to 17 in July-December 2006.
China, with 36 initiations directed at its exports, remained the most frequent target of anti-dumping cases, while India was among the nations that attracted fewer than five initiations against its products, the report said.
Following China as the most frequent target of probes are Indonesia, Japan and Korea.
The US initiated less than seven cases and became target of even fewer probes by other countries.
Singapore, Thailand, Argentina, EU, Russia, South Africa, Australia, Philippines and Saudi Arabia were among the countries facing fewer than five initiations during the second half of 2006, the WTO report said. PTI
Sensex ends over 47 points up on high industrial growth
Mumbai, June 12 (PTI) Buoyed by the robust industrial growth, the Bombay Stock Exchange benchmark Sensex today closed higher by over 47 points on the back of funds buying in heavy-weight stocks such as Reliance Industries.
The Sensex, which had gained over 19 points yesterday, gathered 47.54 points to close the day at 14,130.95 points after dipping below 14k level to hit day's low of 13,946.99.
In likewise manner, the wide-based National Stock Exchange's index Nifty closed with a gain of 9.60 points at 4,155.20 after touching an intra-session low of 4,100.80.
Market observers said a buoyant manufacturing sector, which pushed up industrial growth to 13.6 per cent in April against 9.9 per cent in April 2006, triggered a late surge in stock prices, helping the Sensex to close in positive zone.
Major supporter to the Sensex was RIL, which ended Rs 31.35 , or almost two per cent higher at Rs 1699.55.
Other gainers were ACC, Grasim Industries, HDFC Ltd, ICICI Bank, Larsen and Toubro, Tata Steel and Hero Honda. PTI
RIL gas to cost $4.4-4.6 per mBtu
New Delhi, June 12 (PTI) Reliance Industries' gas from its prolific Krishan Godavari basin field will cost between 4.4 to 4.6 dollars per million British thermal unit, much on the expected lines and may get the Government nod by next month.
The company today presented its gas-pricing formula, based on quotes it had invited from main consuming power and fertiliser companies, to the Petroleum Ministry for approval.
Sources said the RIL formula links the price to Brent crude oil price, with a floor and cap of 25 dollars per barrel and 65 dollars per barrel respectively. At the maximum, the delivered price of gas will come to over 6.8 dollars per mBtu in Maharashtra/Gujarat after adding the transportation cost, marketing margin and 4 per cent central sales tax.
The price, sources said, will be calculated based on a years average of Brent crude oil price and the company was offering gas sale contracts of up to 3 years.
RIL CEO (Oil and Gas) P M S Prasad, who made a presentation on gas formula to the Petroleum Secretary M S Srinivasan before an interaction with key consumers, declined to give any details of the pricing. "We are at a very critical stage and I will not like to say anything." "We are in discussions with the Oil Ministry and the consumers. As per our contract (for the KG block), a gas formula has to be approved by the ministry one year prior to beginning of the production. We expect our gas price formula approval by next month," he said.
He, however, said the company was on schedule to produce first gas from the KG-D6 block in July 2008, beginning with an initial output of 32-40 million standard cubic meters per day (mmscmd). Peak output of 80 mmscmd was targeting in 2009. "We are trying to advance it (the peak production) as much as possible." PTI
New Company Law to take one more year
New Delhi, Jun 12 (PTI) It's been in the making for two years now, but Indian corporates will have to wait for another year for a new Company Law that seeks to keep the government from interfering in the everyday affairs of companies.
The new law, based on the recommendations made by the J J Irani Committee in 2005, is going through inter-ministerial discussions before it is placed in Parliament.
"My target was to introduce the Bill in the Monsoon session of Parliament. But as it will replace an old law which has been amended 25 times, we would be able to place in Parliament only in Winter session," Corporate Affairs Minister Prem Chand Gupta said on the sidelines of a seminar organised by the Institute of Trade and Industrial Development.
"By the middle of next year, you will have a new Company Law," he said.
Gupta said the number of provisions in the new Act would be one-third of the 786 provisions in the existing law.
The new law would be easy to understand and will do away with the government's role in the everyday affairs of the companies, he said. "Government would only step in when there is default or defiance," Gupta added.
He said the new law would move from the system of approvals to self-regulation.
The Minister said that Limited Partnership Bill, which was introduced in Parliament in December, is likely to be passed in the winter session. At present, the Parliamentary Committee is examining it.
When passed, the Bill would allow partnerships where the liability of partners would be limited to their responsibility in the organisation. It would also allow partnerships with unlimited members. PTI
World Bank to help Jharkhand in development
Ranchi, June 12 (PTI) The World Bank is eager to engage itself in the development process of Jharkhand which has huge mineral and forest wealth, a senior Bank official said today.
"The World Bank would be happy to partner with the state in development endeavour," said Fayez Omar, senior manager, World Bank, India, after Jharkhand Deputy Chief Minister Stephen Marandi released a Bank report 'Jharkhand Addressing the Challenges of Inclusive Development' at a function here.
Stating that he was struck by Jharkhand's potential, Omar said "Jharkhand will be our focussed state, ... Jharkhand has every ingredient to achieve success".
Suggesting several short to medium term measures to improve the investment climate, the report said infrastructural improvement and addressing issues in the mining sector could help the state bring in the required investment from the private sector.
Praising the decline in poverty by an impressive two per cent a year between 1994 and 2002, the report said that expanding rural opportunities like accessibility to favourable market could help the poor in villages.
According to the report, access to rural infrastructure such as irrigation, power, roads, credit and attainment of secondary and post-secondary education could also change the rural life.
The report said through an in-depth analysis of various sectors, including health, education, irrigation, power and mining, Jharkhand could lead to development by across the board generic reforms as well as sector-specific reforms. PTI
Former US President Carter to arrive in Nepal tomorrow
Kathmandu, June 12 (PTI) Former US President Jimmy Carter will arrive in Nepal tomorrow on a four day visit to assist and strengthen the Himalayan nation's ongoing peace process.
During his three-day stay in Kathmandu Carter will meet Prime Minister Girija Prasad Koirala, Maoist chief Prachanda, CPN-UML general secretary Madhav Kumar Nepal, Nepali Congress (Democratic) President Sher Bahadur Deuba and other senior leaders.
He will also meet UN officials, human rights activists and senior government officials, according to Nepal chapter of the Carter Centre.
His discussions with Nepalese leaders will mainly focus on current political development, on going peace process, election to the constituent assembly and strengthening the process of democratization in Nepal, the Carter Center said.
Carter will be the first high profile US citizen to meet Maoist chief Prachanda. The US has categorised the Maoists as terrorist organisation and it has been continuously asking the Maoists to halt acts of intimidation, violence, extortion and abduction.
Carter will meet Prachanda on personal capacity as he is coming to Nepal on behalf of the Carter Centre, a staff at the Carter Centre said.
The former US President will land here on a special aircraft and the US government has already deputed special security forces for Carter's visit.
However, Carter has no plan to meet the King, said Darren Nance, Field Director, Carter Centre.
The Carter Centre was established in March with the purpose of extending international support and providing an independent assessment of the constituent assembly election process, a press release said. PTI
3,500 Japanese WW-II era bombs found in northeast China
Beijing, June 12 (PTI) China today claimed to have unearthed a large cache of explosives, abandoned by Japanese troops during World War II, from the base of a hill in Dunhua City in northeast China's Jilin Province.
The 3,500 bombs, still lethal and weighing more than 40 tonnes, were found buried in a rectangular pit at the foot of the hill in Dunhua's Shaheyan Township, which was once the site of a Japanese military airport, police said.
The bombs were discovered by three local farmers from Daqiao Township on June 3 using a metal detector to find scrap iron left by the Japanese troops, which they hoped to sell for money, the police said.
Experts from the local bomb disposal centre have said that if the largest one -- weighing around 35 kg -- exploded, people and livestock within a radius of at least five km could have been affected.
The Japanese bombs were transported to the centre for destruction, the Xinhua News Agency has reported.
Chinese official statistics show Japan abandoned at least two million tonnes of chemical weapons at about 40 sites in 15 provinces at the end of World War II, mostly in the three northeast provinces of Heilongjiang, Jilin and Liaoning.
China and Japan joined the United Nations Chemical Weapons Convention in 1997. Two years later, they signed a memorandum obliging Japan to remove all weapons by June 2007 and provide all necessary funds, equipment and personnel for their retrieval and destruction.
But the Japanese government has asked for an extension of the disposal deadline to April 2012. PTI
Australian PM, Opp leader to meet Dalai Lama
Melbourne, June 12 (PTI) Ignoring China's warning to foreign governments not to lend support to the Dalai Lama, the Australian Prime Minister and the Opposition Leader have made it clear they will meet the Tibetan spiritual leader later this week.
The offices of both the politicians Prime Minister John Howard and Opposition Leader Kevin Rudd confirmed the meetings today, according to a local radio channel.
Meanwhile, the Dalai Lama, who is on a 11-day tour of Australia since June 6, today told the National Press Club in Canberra: "If I have the opportunity of meeting the Prime Minister, perhaps - I consider him as an old friend - I will be happy." "If not, it doesn't matter. On this table, I heard the Prime Minister may receive me, so ask the Prime Minister's office," he said.
Claiming that he did not have any political agenda during his visit, the Tibetan spiritual leader urged Australia to stand firm with China on the issue of human rights.
"There are certain principles such as human rights and also democracy, rule of law, free press - these things you should stand firm on," he said.
"So that means you are a true friend of China. Whatever they have done, you say, 'Oh good, wonderful', then the Chinese themselves eventually lose their faith." Later in the day, the Dalai Lama will be given a reception at Parliament House. PTI
Pak has lowest number of women workers in S Asia
Islamabad, June 12 (PTI) Pakistan has the lowest number of women workers in South Asia, according to the Economic Survey.
The participation for female labour force in Pakistan is lowest in South Asia despite increasing to 18.9 per cent in 2005-06 from 15.9 per cent in 2003-04, the survey for 2006-07 said. The South Asian female participation rate is 35-50 per cent.
The national working-age population is about 105.37 million, 67.3 per cent of the total population of 156.77 million, the survey said.
However, a significant number is not part of the economically-active population, including housewives, students, handicapped and senior citizens, it said.
"The labour market in Pakistan demonstrates a lower labour force participation rate as compared to its competitors," 'Dawn' quoted the survey as saying.
The labour force participation rate in Pakistan has been in the range of 28.6 to 32.3 per cent over a decade. Even the percentage of labour force in the population of persons of 10 years or above is low and hovered around the 43 per cent mark for well over a decade, the survey said.
According to the Economic Survey, participation rates are highest in Punjab province and lowest in North West Frontier Province. PTI
Ruing for a missed opportunity
Ranchi, Jun 12 (PTI) An opportunity to increase assembly seats was missed when the Bihar Reorganisation, 2000 Act was adopted by Parliament to create Jharkhand, exposing the threat of misunderstanding between peoples following the recomendation by the Delimitation Commission of India (DCI) to cut Scheduled Tribe (ST) reserved seats.
The strong protests ahead of DCI's two-day public hearing from June eight in the backdrop of its recommendation to cut down six assembly seats and one Lok Sabha seat reserved for Scheduled Tribes had forced chief minister Madhu Koda to hurriedly convene an all-party meeting recently.
Major political parties during the meeting were unanimous in protecting the 28 assembly seats and five Lok Sabha seats reserved for ST and decided to make an earnest plea to prime minister Manmohan Singh for an amendment in the delimitation act.
Following large-scale protests against its proposal to reduce ST seats in Jharkhand, the DCI has postponed its public hearing to a later date.
However, Chief Election Officer (Jharkhand) Debashish Gupta said the decision to postpone the hearing was taken as June nine was the death anniversary of Tribal icon, Birsa Munda.
"A large number of political parties, particularly tribal groups, are indignant on the DCI's recommendation. A delegation cutting across political parties will shortly meet the Prime Minister," the Chief Minister said.
"We will also request the centre to take initiatives in increasing the present 81-member Jharkhand assembly to solve the problem automatically," Koda said amidst Jharkhand Mukti Morch (JMM), a major ally in Koda government, strongly resenting any downsizing of Scheduled Tribe seats. PTI
Global warming and glass
Snehesh Alex Philip
New Delhi, Jun 12 (PTI) As the country faces acute power shortage and global warming debate hots up, energy conservationists caution against growing number of buildings with glass facades dotting the landscapes of cities as being responsible for energy consumption much in excess a normal structure would do. Real estate developers, however refute this as incorrect.
"If you see the structures that have come up recently, they are all mostly made with glass. Right from top to below, you can see huge shinning glass. Though these buildings look very contemporary and stylish, they are the biggest culprit when it comes to energy consumption," says Harsh Narang, Director, Modern India Architects.
"Glass building are very European concept because they don't get much of sunlight. Hence, their main aim is to get maximum sunlight. But, in our country where temperatures at times go as high as 50 degrees celcius, these glasses take in more of sunlight. Hence the offices use more air-conditioners directly resulting in higher consumption of electricity and also in the form of carbon-dioxide emission and also CFCs that air-conditioners generate causing damage to the ozone layer," he adds.
According to a study conducted by Chartered Institution of Building Services Engineers, London, a complete glass building consumes four times more electricity than a normal building. PTI
Cigars: the new style statement
Snehesh Alex Philip
New Delhi, Jun 11 (PTI) From being considered as 'niche' and hence available only in five star hotels and duty free shops, cigars seem to be slowly gaining popularity as they now adorn almost every neighbourhood pan shop.
"We have two different categories of cigars, the mass market and premium and hence have tied up with some of the best cigar makers to market their products in India" says Arun Joshi, Vice-President, Cigars, Godfrey Phillips, second largest tobacco player in the country.
The company has recently tied up with a major European cigar player, Davidoff to bring their cigars to India costing between Rs 150 to Rs 1400 a stick.
According to industry estimates, the total sale of cigars last year in India was three million units which is nearly worth Rs 20 crore. "People have just started trying cigars. It is still not a substitute for cigarettes and they prefer to smoke cigars during weekends," says Joshi pointing out that the company saw an increase of 48 per cent in sales last year.
Growing economy with higher purchasing power seems to the main reason for the growth of the cigar market. "Indian economy is growing and hence the demand for finer products would always be there," says Eric Piras, Vice-President, Altadis Cigars which makes some of the worlds famous cigars and now markets its cigars in India.
The market is flooded with low cost cigars (comparing to premium brands) offering flavours ranging from cognac to vanilla and chocolate. "My customers generally go by flavours. Women go in for strawberry or chocolate flavour while guys usually prefer cognac or even the coffee ones," says Pritam Das, a cigar seller in Connaught Place pointing out to his assortment of cigars costing anywhere between Rs 10 to Rs 150. PTI
Dera row: uncertainty looms over investments in Punjab
Vijay Dabur
Chandigarh, Jun 11 (PTI) Although the Sacha Sauda Dera crisis has been defused, an atmosphere of uncertainty looms over the industry amid fears that it may cause a setback to investments in land-locked Punjab.
The state is already grappling with the flight of industry to the neighbouring Himachal Pradesh in view of incentives offered to the entreprenuers by the hill-state to the investors.
Land-locked Punjab has no mines, minerals or other natural resources to boast of and with the surcharged atmosphere in the state after it was hit by a sectraian strife the situation has become more complicated for the investors who are giving a second thought before pumping money here.
"The Dera crisis has shaken the confidence of industrialists and investors and they are not comfortable and happy with the developments," PHDCCI Punjab Commitee Co-Chairman R S Sachdeva told PTI here.
"If the situation is not brought under control the new investments and further expansion of industry will suffer a severe set back," he allayed fears.
"The situation of unrest has created an atmosphere of uncertainty in the minds of entrepreneurs in the border state," he said.
While on the one hand the Parkash Singh Badal Government on is walking an extra mile to woo investors, the Dera crisis is sending wrong signals on the other.
Barely three months into power, the Dera controversy has dented Punjab's efforts at projecting an investor friendly image. PTI
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Sensex: 14130.95, +47.54
The sensex closed at 14130.95, up 47.54
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1 U.S. $ = 40.575 INR
1 Japanese Yen = 0.3330 INR
1 British Pound = 80.048 INR
1 Canadian $ = 38.195 INR
1 Singapore $ = 26.368 INR
1 UAE Dirham = 11.047 INR
1 Saudi Arabian Riyal = 10.819 INR
1 Euro = 54.133 INR
1 Qatar Rial = 11.148 INR
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