Companies & Sectors
Videocon to start production from Tamil Nadu plant in 3-4 months

The videocon plant in Manamadurai in SIPCOT Industrial Park near Madurai would manufacture LCD Plasma TV sets and other electronic goods and spares

 

Chennai: Home appliances manufacturer Videocon Industries' Rs1500 crore manufacturing plant in Tamil Nadu would begin production in next three to four months, reports PTI quoting a top company official.

In 2010, the company signed a memorandum of understanding with the Tamil Nadu Government for setting up the plant at an investment of Rs1500 crore.

The plant is coming up in Manamadurai in SIPCOT Industrial Park in Near Madurai to manufacture LCD Plasma TV sets and other electronic goods and spares.

"Tamil Nadu project has been delayed. We have already invested huge amount (Rs700 crore) so far at the plant. The project is very much on... We will be manufacturing television sets to begin with..It will start (production) in three to four months time...", Rajkumar Dhoot, managing director, Videocon Industries, told reporters in Chennai.

Besides, manufacturing of the television sets, Dhoot also the President of industry body ASSOCHAM, said the plant was also feasible for manufacturing other electronic products.

Currently, Videocon Industries have a plant at Bharuch (in Gujarat) to manufacture coloured glass.

"We have the only plant in Bharuch, to manufacture coloured glass. We want to export them to Indonesia, Malaysia where the demand is there...", he said.

He said they had shifted their Hosur plant ooperations to Manamadurai inorder to use latest technology for manufacturing plasma televisions.

The company had planned to recruit about 700 people once the plant becomes operational, he said.

Stating that there has been demand for colour television sets, he said, "the demand is there. we are supplying every where. We just imported (Cathode Ray)tubes from our own company in China and now within four months time, we will have enough supply for colour television sets".

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Indians leave a footprint on CERN finding of ‘God Particle’

CERN scientists on Wednesday claimed to have spotted a sub-atomic particle 'consistent' with the Higgs boson or 'God particle', believed to be a crucial building block that led to the formation of the universe

 

Geneva: As all eyes today focus on the European Organisation for Nuclear Research, famously known as CERN, Indian scientific and technological contributions are among the many that keeps the world's biggest particle physics laboratory buzzing, reports PTI.

In a 'quantum' leap in physics, CERN scientists on Wednesday claimed to have spotted a sub-atomic particle "consistent" with the Higgs boson or 'God particle', believed to be a crucial building block that led to the formation of the universe.

There is an intrinsic Indian connection to what is happening at CERN - Satyendra Nath Bose. It is Bose after whom the sub-atomic particle 'boson' is named.

His study changed the way Particle Physics has been studied ever since. The Higgs Boson is a particle that is theoretically the reason why all matter in the Universe has mass.

The name Higgs Boson came from a British scientist Peter Higgs and Bose. The work done by Bose and Albert Einstein, later added by Higgs, lead to this pioneering day.

"India is like a historic father of the project," Paolo Giubellino, CERN spokesperson had said back in October last year when PTI visited the facility.

At the core of the CERN, spread over two countries as it is situated near the Swiss-Franco border, is the 27-km long tunnel, over 70 metres beneath the ground, where the Large Hadron Collider (LHC) or commonly referred to as the Big Bang experiment was conducted last year.

The experiment had aimed to recreate the conditions of the Big Bang, when the universe is thought to have exploded into existence about 14 billion years ago.

The CERN runs a number of experimental projects and over 100 Indian scientists are working round the clock.

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RBI will focus on progress of SW monsoon says Gokharn

If there is a problem in the progress of monsoon then the central bank will take this into consideration while taking a call on rates

 

Chennai: The Reserve Bank of India (RBI) would pay more attention to the progress of the south west monsoon as it goes into its 'policy date', RBI Deputy Governor Subir Gokharn said on Wednesday, reports PTI.

Observing that the monsoon had made some progress over the last two or three days, he said, "it is a fact we will obviously pay close attention to it, as we go into our policy date."

"I think, as we are hearing, it is really first two weeks of July (which) are quite significant (with regard to the effectiveness of the monsoon)...we are still in the early part of that period. So we are watching, as everybody else is to see what progress it is making. ..", Gokharn told reporters in Chennai on the sidelines of a seminar.

However, the RBI would consider, if there is a problem in the progress of the monsoon.

"I am not in a position to make judgements on the progress of the monsoon. We rely on the Meterological department for forecast. But, if there is a problem, we will take it into our consideration", he said.

According to IMD, India's monsoon appeared set to march ahead this week, as weather conditions were favourable for advance of the seasonal rains into parts of Maharashtra, Gujarat and Madhya Pradesh.

Referring to the current account deficit, he said "the capital inflows are not matching (the expectations) and putting pressure on the rupee".

"As it (current account deficit) corrects for whatever reasons, whether it is oil prices or exports picking up or imports going down, that will obviously have a reverse effect, which will help to stabilise the rupee", he said.

The seminar on "Vision Tamil Nadu" - Building Sustainable Tomorrow - The Banking Perspective,was organised by ASSOCHAM.

 Earlier, praising Tamil Nadu for its presence across various sectors, Gokharn said, Tamil Nadu reported 12.5% growth in 2011-12 against the all India GDP growth of 6.5%. "Tamil Nadu has managed to show resilience during the bad times mainly due to diversification. It can be a good example on how diversification is a best way for lesser risk," he said at the seminar.

The total industry's contribution to the State's GDP growth was 30.5% in 2001-02, which dropped to 24.8% in 2011-12.

This was due to increase in the contribution of service sector which rose to 65.8% in 2011-12 from 52.8%, he said.

According to the study -- "Achieving Higher Growth in Tamil Nadu", that was released by Gokharn, as of June 2012, Tamil Nadu has attracted investment proposals worth of Rs9.2 lakh crore with 1,637 projects.

Power sector accounted the major share of 38.5% (over Rs3.5lakh crore) of the total investments followed by services 32.3%, manufacturing 17.5%, and real estate 9.6%, the study revealed.

The State has emerged as favourite destination for domestic and foreign investors considering that about 48% of investment projects were under implementation while over 42% at MoU stages, ASSOCHAM President Rajkumar Dhoot, said.

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