Wine producers believe that Indian wine industry is coming back on track with jump in sales and expect to sell around 1.75 million cased till March next year
After two years of reeling under sluggish sales and excess supply, the Indian wine industry has reasons to cheer. While sales have already climbed, wine players are all geared for the coming winter and Christmas season. The wine producers association is expecting a record sale of 1.75 million cases, highest ever year for the 2011-12.
Rajeev Samant, founder and chief executive of Sula Vineyards, country's leading wine producers told Moneylife, “The future is really bright for the overall (winery) sector. Our sales jumped by 42% compared to previous year. So the production, obviously, has been in pace. We have also expanded our operations at Karnataka apart from Maharashtra.”
Fratelli Wines, a new entrant in the industry managed to break-even with three different varietals of wines during 2010-11, its first year of operation. “This year we are adding 6 new wines to our portfolio, targeting different price segments. We are expecting an increase in sales of around 20% - 25% in FY12,” says Abhishek Naik, product manager at Fratelli Wines.
The recovery in growth, experts believes, is mainly due to lower sales the industry witnessed last year. “For the past couple of years, the industry was in bad shape with low sales, leaving the production unsold. Now it is recovering. We expect sales of around 1.75 million cases of wine for 2011-12. This would be a highest sales figure, so far,” says Jagdish Holkar, president of the All India Wine Producers' Association.
Maharashtra has emerged as the country's leading wine producing state, with most of the processing in and around Nashik. However, the past two years have been difficult for the industry. Sales were flagging and with over-capacity globally, wine producers were stuck with excess supplies. The financial slowdown and the debacle at Indage Wines due to reckless expansion also took a toll.
Mr Holkar says, “Currently all the major wineries have began bottling and marketing their wines with coming of winter season and Christmas celebration, where traditionally sales are expected to go up.”
The overall growth of the Indian wine sector is also expected to be bright. “After two years of downturn, things are now in favour of the wine industry. For the entire sector, I am hoping an annualised growth of around 20% for the next ten years,” says Mr Samant.
Fratelli Wines also bets on the positive outlook of the sector. However, it feels more wine education among the consumers is required. “The fiscal year 2011-12 will be dedicated towards further building our brand. Our focus will be on creating more education among consumers and F&B trade,” Mr Naik adds.
The bail granted to former Karnataka chief minister BS Yeddyurappa in the third private complaint for alleged irregularities in de-notifying government lands favouring his family members, comes five days after he secured similar relief on the second complaint relating to similar charges
Bangalore: Former Karnataka chief minister BS Yeddyurappa was today granted conditional bail by the high court in a land scam case, paving the way for his release from jail, reports PTI.
Justice BV Pinto allowed the bail application of Mr Yeddyurappa, who was arrested on 15th October, on the condition that he furnishes a bond for Rs5 lakh and does not attempt to tamper with evidence.
The bail granted to Mr Yeddyurappa in the third private complaint for alleged irregularities in de-notifying government lands favouring his family members, comes five days after he secured similar relief on the second complaint relating to similar charges.
The judge also enlarged on bail former minister SN Krishnaiah Setty, one of the accused along with Mr Yeddyurappa in the third private complaint filed in the Lokayukta court by advocates Sirajin Basha and KN Balaraj.
The Lokayukta special court had rejected the bail applications of Mr Yeddyurappa and Mr Setty on 15th October and sent them to judicial custody.
Pronouncing the orders on the pleas of Mr Yeddyurappa and Mr Setty, justice Pinto observed that the lower court has not taken into consideration whether the documents submitted by the complainants were verified and subjected to scrutiny.
The complainant in his seven-page sworn statement recorded before the lower court has not averred that the documents furnished by him are ‘true’. Under these circumstances, the documents should not have been taken into consideration, the judge observed.
“Therefore, there is no impediment in granting bail to the accused”, justice Pinto said while allowing the bail applications.
Justice Pinto said since some more complaints were pending before the lower court, “I do not want to express my opinion at this stage.”
Three more private complaints filed by Mr Basha are still pending before the Lokayukta court. While sworn statements have been recorded in the fourth and fifth complaint, the process is yet to begin on the first complaint.
Justice Pinto observed that nowhere has the complainant stated that the contents of documents furnished by him were ‘true’ or produced any witnesses.
“Under these circumstances, mere reading of the sworn statement does not disclose guilt of offences. The counsel for the petitioner has stated that de-notification of government lands are permissible under Section 48 of the Land Acquisition Act. For this no fault can be made against the accused. And the offences under this act are not punishable,” the judge said.
The Karnataka Land Use Restriction Act, under which an offence was sought to be made against Mr Setty, for securing conversion of agricultural land into non-agricultural use, was not also punishable offence under the law, justice Pinto said while rejecting the contention of the complainants that offences have been committed by the accused.
Both accused have no antecedents of crime nor any case was pending against them or booked in any other case, the judge said.
The judge also observed that the sworn statements by complainants do not disclose any offence made out under various provisions of IPC and sections of the Prevention of Corruption Act.
Soon after landing in jail, Mr Yeddyurappa had complained of illness and was moved to two hospitals.
Mr Yeddyurappa, credited with installing the BJP’s first ever government in the south, had stepped down as chief minister after being directed by the central leadership following his indictment in a Lokayukta report on illegal mining.
Besides Mr Yeddyurappa, his two sons, BY Raghavendra, a Lok Sabha member and BY Vijendra and son-in-law RN Sohan Kumar are among the other accused in cases relating to de-notification of land.
A 1TB hard disk (HDD) that used to cost less than Rs3000 before Diwali is now selling for Rs5700 and more.
Consumers, especially those who want to buy or upgrade computer and laptop in India have been shocked to discover that floods in Thailand have caused hard disk drive (HDD) prices to skyrocket. Disks that were ranging from Rs1,200 to Rs3,000 for 250 gigabyte (GB) to 1 terabyte (TB) have almost doubled to Rs3,000 to Rs6,000 within past 10 to 15 days.
According to dealers and resellers from Mumbai's famous Lamington Road electronics market, floods in Thailand had affected production of hard disks and more than 50% factories in that country are closed. This has caused a supply shortage and therefore prices for HDDs, except solid-state drives (SSDs), have gone up. SSD prices in Mumbai are stable or gone up by mere Rs100 to Rs200.
However, one more reason behind the sudden spurt in prices of HDD could be a ganging up by some stockists. Almost all the dealers, resellers and suppliers have stocked computer hardware to meet the festival demands during Dussehra and Diwali. However, as seen in past few years, this time also the demand for desktops was lower than that of laptops and therefore some of the dealers or suppliers ended up with stockpiles of computer hardware like HDDs, memory chips, monitors, DVD re-writers (RW) etc. For them the flood in Thailand proved to be a great opportunity to earn some extra (almost double) money, at least for HDDs.
According to information collected from various people related with the computer hardware business, at present, you should buy traditional HDD only if it is necessary and that too of the lower capacity so as not to overstretch your budget. They also said, there is short supply of 20-inch LCD or LED monitors, so instead opt for an 18.5-inch monitor. If your budget permits, then go for 22-inch monitor, but remember the price difference between an 18.5-inch monitor and 22-inch screen would be more than Rs3,000.
Currently, the prices of random access memory (RAM) chips and DVD RW are near the bottom. You can buy a 4GB DDR3 memory chip and 24-X DVD RW for as less as Rs900 to Rs1350, depending on the brand. Therefore, if you want to upgrade RAM of your desktop, this is the time.
Another interesting thing emerged from the interaction is prices of laptops (well...at least some brands) are cheaper than a desktop of the same configuration (except the screen size). For example, a desktop with Intel Core i3 processor, 4GB RAM, 500GB HDD, DVD RW with 18.5-inches LCD screen comes to around Rs29,000, while a laptop of same configuration with 15.6-inches screen is available for about Rs27,000.
Thailand is one of the major producers and suppliers of HDDs to computer and laptop makers around the world. According to reports, plants of Western Digital (WD), the world's largest HDD producer, and Toshiba and many major HDD component suppliers are flooded. Even non-flooded production plants of HDD makers, like Seagate and Hitachi GST have been affected due to part shortages.
“Although demand for HDDs in the December 2011 calendar quarter was estimated as high as 180 million (M) units, actual production estimates are for 110-120 M HDDs. The difference of 50-60 M units between production and demand has led to price spikes for HDDs in the 20-50% range in the short term.
With production volumes in the March calendar quarter of 2012 constrained to 120-130 M units with demand (including pent up demand from the prior quarter) being much higher, long term prices increases for HDDs in the range of 25% over pre-flood levels appear likely for the near future,” the report said.