Citizens' Issues
Green energy talk yet to translate into figures

New survey finds little improvement in employment trends in the area of environment conservation and responsible energy utilisation

The year 2010 was designated by the United Nations as the International Year of Biodiversity. The year was launched with the Copenhagen summit. The 40th Earth Day in April coincided with the World People’s Conference on Climate Change in Bolivia. Last week, world representatives met in Cancun to take the campaign to save Planet Earth forward.

There has been much emphasis on conservation of the environment; most importantly the responsible use of energy. However, despite the tremendous interest and promise of activity generated in this direction, there has been surprisingly very little employment created in this connection.

According to the Ma Foi Randstad Employment Trends Survey 2010, India created 7.39 lakh jobs between January and September, but the energy sector did not perform well, registering a small increase of 0.64% over the last quarter.

“We were surprised with the results,” admits E Balaji, director and president of Ma Foi Randstad. “India has gone back to hiring, and the economy is recovering. There was such hype about the energy sector and everyone was expecting an expansion. But then, we saw that most of these projects have either failed to take off, got stalled, or have remained at the blueprint stage.”

Indeed, every foreign leader—from Obama to Sarkozy—visiting the country, talked about collaboration to develop energy projects. The government and several experts too have been vocal, at every climate/environmental convention, about new green technologies. But this has not translated into visible initiatives, much less job creation.

State governments have sanctioned power plants over the last few years, to bridge the demand-supply gap. Research reports, however, have indicated that there could be a fall in power demand. Moneylife has reported that there was a decline in power generation in November, according to the Central Electricity Authority (CEA). Authoritative agencies expect power supply to rise and reduce the deficit in the coming months, while merchant power rates reduce.

An IDFC Securities report says that in November “NTPC’s generation grew by 2.7% y-o-y, but fell 9% m-o-m, due to a sharp 23.6% m-o-m fall in gas-based generation; PLF (plant load factor) of NTPC thermal plants for November 2010 was 85% compared to 89% in November 2009 and 88.6% in October 2010. Among private power producers, the highest fall was seen in the case of Jaiprakash Power’s Baspa and Vishnuprayag plants (-47.8% m-o-m). GVK’s Jegurupadu and Gautami power plants both reported a sharp fall in generation on year-on-year and month-on-month basis.”
But the future for efficient energy generation and utilisation may not be so bleak.

Mr Balaji explained that many corporates are showing interest in this area, especially green energy, so the activity level and scope will increase. “This quarter, the sector will perform better,” he said, “and we must not forget that power is a long-term thing.” But it would require smart regulatory norms and incentives from the government to allow the sector grow to its full potential, he said. 

User

Wednesday’s Market Preview: Flat-to-positive opening on the cards

The local market is likely to witness a flat-to-positive opening on the back of mixed global cues. The US markets ended higher overnight on assertions that the Federal Reserve will continue with its plan to boost the economy and on good economic data. Markets in Asia turned negative after opening with marginal gains in early trade on Wednesday, on economic concerns in the region. The SGX Nifty was down 4 points at 5,955 compared to its previous close of 5,959.

Trading opened on a positive note on good cues from the global arena. Along with support from the broader indices, the market also witnessed buying in oil & gas, metal and capital goods stocks. The market received a push at noon following the announcement of better-than-expected wholesale price index (WPI)-based inflation numbers for November, taking the benchmarks further northwards. Some bit of nervousness resulted in range-bound trading in post-noon trade. The market pared some of its gains after scaling its intraday high, albeit ending in the green.

The Sensex closed the session at 19,799.19, up 107.41 points (0.55%) from its previous close. The Nifty rose 36.45 points (0.62%) to settle at 5,944.10.

The US markets ended higher on Tuesday on the Fed’s reiteration that it would continue with its economy-boosting measures. The central bank kept overnight interest rates unchanged and pledged again to buy $600 billion in Treasury debt through next June. This apart, November retail-sales data from the Census Bureau beat analysts’ forecasts, and small-business sentiment improved to its highest level in three years, according to the National Federation of Independent Business.

The Dow gained 47.98 points (0.42%) at 11,476.62. The S&P 500 added 1.13 points (0.09%) at 1,241.59. The Nasdaq rose 2.81 points (0.11%) at 2,627.72.

Markets in Asia were mostly in the red after opening with marginal gains in early trade on Wednesday on economic concerns in the region. The quarterly Tankan index of sentiment at large manufacturers dropped to 5 in December from 8 in September, the Bank of Japan said in Tokyo. A positive number means optimists outnumber pessimists. On the other hand, South Korea’s unemployment rate unexpectedly fell to a six-month low as the nation’s economic expansion encouraged manufacturers to hire more workers. The jobless rate fell to 3.2% in November from 3.6% in October, statistics showed.

The Shanghai Composite declined 0.29%, the Hang Seng was down 0.65%, the Jakarta Composite shed 0.04%, the KLSE Composite fell 0.09%, the Nikkei 225 was 0.04% lower, the Straits Times fell 0.16%, the Seoul Composite was down by 0.07% and the Taiwan Weighted fell 0.27% in early trade. The SGX Nifty was down 4 points at 5,955 compared to its previous close of 5,959.

Bharat Petroleum Corporation (BPCL) on Tuesday hiked petrol prices by about Rs2.95 a litre effective 15th December, and other state-owned oil companies IOC and HPCL will follow suit on Wednesday.

The oil ministry gave the three companies a go-ahead to raise petrol prices after international crude oil prices touched $90 per barrel.

Indian Oil Corporation (IOC), the largest fuel retailer in the country, and Hindustan Petroleum Corporation (HPCL) will do the same by an equal measure today, sources said.

User

Indian Wine Challenge cancelled over delays

The event would have brought several foreign winemakers to the country, but the industry thinks it won’t have much of an impact; probably not, as the business is already struggling due to a glut

The fourth instalment of the Indian Wine Challenge, which was scheduled to be held in Mumbai in January, has been shelved. The organisers, Indian Food and Beverages Competition Ltd, say that the event had to be cancelled because there were not enough entries.

"It is unfortunate", said Subhas Arora, president of the Indian Wine Academy. "I have been a judge for the earlier events and I can say it is a very credible, fair and certifiable competition. I think it will take another year to have its next instalment."

The three previous events-in London, New Delhi and Mumbai-had attracted many Continental and overseas winemakers and some domestic players. Apart from providing labels with good exposure, the event also aims to help consumers make informed choices regarding their vintage.

But why has interest declined this time? Mr Arora says that the recession might be the main reason. "This year, winemakers are thinking about saving money, because there is a glut. With each sample, the entrants were required to pay a certain amount. There are other excise norms to take care of as well," Mr Arora told Moneylife. On top of that, he said, many foreign competitors may have held back because the much-hyped great Indian wine boom has not happened.

There are some other factors as well. The first two events had suffered problems from complex customs and laws, and when the competition shifted to India this year, there was a huge delay in obtaining and releasing the samples. In addition, the responsibility for organising changed hands continuously, which took a toll on the event.

The first instalment was jointly organised by the chairman of the competition, Robert Joseph, and IFE India Ltd. But, IFE got dissolved soon and Mr Joseph had to partner with Informa India. Finally, Mr Joseph entered into collaboration with the IWSG Group, which hosts the International Wine and Spirits Competition annually and held a wine competition in Hong Kong last year. The fourth instalment of the Indian Wine Challenge was also to merge in the India Spirits Challenge.

How will the cancellation of the event impact Indian winemakers? "Not much, because the domestic manufacturers can sell wine without a medal," says Mr Arora. "It was mainly an event for the foreign vintage houses and winemakers, who sought to penetrate the Indian market. India is generally regarded as a tough market. The competition provided for a good gateway. Also, there are many wine connoisseurs who look forward to attending it."

This year has been tough for vini-viticulturists and wine lovers in India. With the Indian Wine Challenge scrapped, it will add another tally mark to the list of woes.

User

COMMENTS

VitaBellaWine

6 years ago

We feel really sorry for this competition! VitaBella Wine Daily Gossip brings together some articles exclusively about Wine, read on the internet over the last 24 hours. This is a good article selected today by http://www.vitabella.fr

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)