Present Performance of Private Life Insurance Players in Kolkata Life Insurance Market

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Present Performance of Private Life Insurance Players in Kolkata Life Insurance Market Powered By Docstoc
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Index

Business News – The India Boom Factor
             Indo-Thai trade getting onto fast track
             9 cos submit EoI to set up shipyard on East Coast—Baalu
             Indo-Swedish trade surges by 55 pc during 2006-07
             CII delegation for Taiwan

Policy & Economy News
             Economy on a roll; GDP up 9.3% in Q1
             'India remains favourite outsourcing destination'

New Business Opportunities for International Liner Operators / MLO’s / NVOCC’s
             Safmarine & Maersk Line launch second Asia-West Africa direct weekly service
             Seaways Shipping to launch West Coast service tomorrow

Business Opportunities for Charterers / Shipowners / Shipbrokers
             STC to import wheat at $ 389.45 a tonne c&f
             Bulk of imported wheat to be of European, Canadian origin

New Business Opportunities for Logistics Players
             Railways begins gauge conversion to connect hinterland to 4 Gujarat ports
             Railways to explore public-pvt partnership for train corridors

Ports You would want to call in India
             Rewas port to emerge as state-of-art, world class multipurpose facility
             CCT achieves new milestone of OVER 1 LAKH TEUs IN AUG.!
             3,40,394 TEUs! JNP’s August Achievement
                                                                             Samsara Group, India




BUSINESS NEWS – THE INDIA BOOM FACTOR

Indo-Thai trade getting onto fast track—Kamal Nath (Exim News Service - New Delhi,
Sept. 2)

WELCOMING Mr Kosit Panpiemras, Deputy Prime Minister and Minister of Industry of Thailand,
here, Mr Kamal Nath, Union Minister of Commerce and Industry, expressed the hope that bilateral
trade relations would scale new heights.

He hoped that the free trade agreement (FTA) negotiations under way covers trade in goods, services
and investments, including issues such as rules of origin, trade facilitation, anti-dumping and
safeguard measures and a dispute settlement mechanism that would benefit the two countries.

Exports to Thailand were $ 1,075 million in 2005-06, an increase of 19 per cent over the previous
year. In 2006-07 (April-September), exports to Thailand were $ 697 million.

Imports from Thailand were $ 1,211 million in 2005-06, a growth of about 40 per cent over the
previous year. The figure for 2006-07 (April-September) was $ 812 million.

Major exports to Thailand were gemstones, mainly diamonds and emeralds; other metal ores, metal
waste scrap, chemicals; iron, steel and products; vegetables and vegetable products; machinery and
parts; etc. medicinal and pharmaceutical products; yarn and fibres; vehicle parts and accessories;
fertiliser and pesticides and animal and animal products.

Major imports from Thailand comprised polymers of ethylene, propylene, etc. in primary forms;
radio broadcast receivers, television receiver and parts thereof; iron and steel and their products;
motor cars, parts and accessories; machinery and parts thereof; automatic data processing machines
and parts thereof; chemical products; air-conditioning machine and parts thereof; aluminium
products and plastic products.

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                                                                             Samsara Group, India




9 cos submit EoI to set up shipyard on East Coast—Baalu (Exim News Service - New
Delhi, Sept. 6)

THE Union government’s plan to develop a mega shipyard on the East Coast has attracted nine
companies, including foreign ones, the Minister for Shipping, Road Transport and Highways, Mr
T.R. Baalu, informed the Lok Sabha.

The nine companies that have responded to the expression of interest (EoI) were: Chennai-based
IMC Ltd, Goodearth Maritime Ltd, Larsen & Toubro, Essar Constructions, UK-based Mcnulty
Offshore Construction Ltd, ABG Shipyard Ltd, Kolkata-based Apeejay Shipping Ltd, South Korean
firm STX Shipping and Shapoorji Pallonji and Co. Ltd.

Ennore Port had been nominated by the Shipping Ministry as the nodal agency to invite bids for
setting up the shipyard.

The Indian Ports Association (IPA) has identified Tuticorin, Ennore and Kakinada as possible sites
on the East Coast to set up the mega shipyard.

The private firms would be allowed to design, finance, construct, operate and maintain the shipyard
that would build and repair ships with carrying capacity of up to 3 lakh tonnes.

The proposed shipyard would comprise two big docks, and preferably three (two for building and
one for repair) quay side length of at least 2.5 km with a draught of 12 meters with other support
facilities.

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Indo-Swedish trade surges by 55 pc during 2006-07 (Exim News Service - New Delhi,
Sept. 6)

SPEAKING at the bilateral meeting during the visit of Mr Sten Tolgfors, Swedish Minister of
Foreign Trade, here, Mr Kamal Nath, Union Minister of Commerce and Industry, expressed
satisfaction that bilateral trade between the two countries had increased by 55 per cent during 2006-
07 as compared to 2005-06.

While exports to Sweden had increased by 19 per cent, Swedish exports to India had shown a growth
of 65 per cent.

On FDI and investments, Mr Nath noted that though investment flows from Sweden were
encouraging and that it was India’s 12th largest investor, there was considerable room for larger
investments, particularly in areas such as infrastructure and renewable energy.
                                                                              Samsara Group, India




"Sweden with its large number of MNCs has had a long history of presence in India. There has been
traditional reluctance on the part of the Swedish small and medium enterprises (SMEs) to come
forward to invest in India.

"But in recent years, these industries are also exploring India due to inherent advantages of cost
benefits and a growing market. We, as governments, must do our best to help the SME sector engage
bilaterally", Mr Nath emphasised.

Mr Nath welcomed Sweden’s strong interest to deepen and diversify relations with India in trade and
commerce. The main imports from Sweden are electronic goods, computer software in physical
form, machinery and gold. The main exports to Sweden are readymade garments, accessories,
metals, cotton yarn, fabrics and carpets, etc.

The share of exports of ten principal commodities to Sweden is 65 per cent.

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CII delegation for Taiwan (The Hindu Business Line – New Delhi, September 1)

The Confederation of Indian Industry is organising a business delegation to Taiwan from September
2 – 4, under the leadership of Mr Gopal Srinivasan, Director, TVS Electronics Limited. The 10-
member business delegation will project India as an attractive investment destination and will
explore possibilities to tap one of the largest growing economies in Asia. The delegation comprises
Government officials and industry members. The delegation represents sectors such as electronics,
telecommunication, semiconductors, IT, R&D and leather among others. India’s strength can
compliment Taiwan’s hardware expertise and the two countries together can become a reckonable
force in the international markets, according to the Chamber.

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                                                                              Samsara Group, India




POLICY & ECONOMY NEWS

Economy on a roll; GDP up 9.3% in Q1 (The Hindu Business Line – New Delhi, Aug 31)

Two important economic data made public on Friday show that the country’s economy continues to
be in fine fettle. The Central Statistical Organisation (CSO) puts the estimated gross domestic
product (GDP) growth in the first quarter of the current fiscal at 9.3 per cent.

Separately, the inflation rate for the week ended August 18 fell to a 15-month low at 3.94 per cent.
The GDP growth in the first quarter of the current fiscal was driven by strong performance in
agriculture and services, along with support of the manufacturing sector, whose performance was
marginally lower than last year.

At 9.3 per cent, the GDP growth is being considered good, though it is a shade lower than 9.6 per
cent recorded in the previous fiscal’s first quarter. Overall, there is an expectation that 2007-08
would close with nine per cent growth.

Sector-wise break-up

Sector-wise break-up of the GDP data shows that agricultural growth in Q1 this year is estimated to
be 3.8 per cent (2.8 per cent), manufacturing at 11.9 per cent (12.3 per cent) and construction at 10.7
per cent (10.5 per cent).

The first quarter GDP expansion by 9.3 per cent comes on top of 9.4 per cent GDP growth recorded
in full fiscal 2006-07, which was the best performance in the last 18 years. The growth performance
had a positive impact on the benchmark Sensex, which climbed up by 200 points at close on Friday.

“Although the 9.3 per centgrowth was a bit below the growth in same period last year, given the
circumstances on account of external situation, they are quite satisfactory”, Mr P. Chidambaram,
Union Finance Minister, told reporters after the CSO released thefirst quarter GDP estimates for
2007-08 here today.

According to the CSO, the quarterly GDP at factor cost at constant (1999-2000) prices was estimated
at Rs 7,23,132 crore in April-June 2007 against Rs 6,61,335 crore in the same period last year.

In fiscal 2006-07, GDP at current market prices was Rs 41,25,725 crore. This was equivalent to $912
billion at an average rate of Rs 45.25 per dollar for 2006-07.

The economic activities that registered significant growth in first quarter of current fiscal are
electricity, gas and water supply at 8.3 per cent (5.8 per cent), trade, hotels, transport and
communications at 12 per cent (12.4 per cent), financing, insurance, real estate and business services
at 11 per cent (10.8 per cent), community, social and personal services at 7.6 per cent (11.3 per cent)
and mining and quarrying at 3.2 per cent (3.7 per cent).

Analysts point out that the growth has come in a scenario of tight monetary policy prescriptions. The
Reserve Bank of India has pegged the GDP growth estimate for current fiscal at 8.5 per cent.
                                                                                Samsara Group, India




The rupee appreciation against the US dollar during the current calendar year had some beneficial
impact on the manufacturing sector in terms of lower import cost of capital goods.

The country’s wholesale price index-based inflation rose 3.94 per cent in the week ended August 18,
lower than the previous week’s 4.10 per cent.

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'India remains favourite outsourcing destination' (The Economic Times – New Delhi, Sept. 6)

When it comes to outsourcing, India continues to rule as the favourite global destination, even
though factors like emergence of cheaper destinations, employee and salary crunch are adversely
affecting the sector, a recent study shows.

India holds an edge as it commands global confidence to produce perfect turn around time (TAT), a
recent study by recruitment solutions provider Elixier Solutions shows. TAT is the time needed for
performing a task, especially receiving, completing, and returning an assignment.

“At present outsourcing business in india is increasing at a rate four times more than any other
country and the county has the resource and margin to meet the competition,” a partner in Elixier
Solutions Vipul Prakash said. According to the study, growing at a rate of 40% annually, india is the
lead player in this sector followed by China at the second spot with a growth rate of 25%.

“Certain companies restrain from outsourcing their practices thinking it to be a luxury practice
which only organisations having deep pockets can afford,” Elixir Web Solutions associate partner
Jacob Samuel said.

The overall outlook of this industry seems positive with experts predicting that the global market for
shared services would grow to $1.43 trillion by the end of 2009 from $1,000 billion at present.

Although India and China are the market leaders in this sector, there are huge opportunities present
in the market to give ample space to other countries like Philippines, Vietnam, Romania, Kenya, Sri
Lanka and North America market to grow, the report said.

The study also said although it is unlikely that India would be able to retain its number one slot with
China aggressively trying to outstrip it in the business, it would still be able to get a decent share of
the pie. Also, processes like human resource, insurance, life sciences, finance, legal services,
technical support, risk management, supply chain and media would come up in a big way in terms
of business and employment opportunities, the study added.

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                                                                             Samsara Group, India




NEW BUSINESS OPPORTUNITIES FOR INTERNATIONAL LINER OPERATORS /
MLO’s / NVOCC’s

Safmarine & Maersk Line launch second Asia-West Africa direct weekly service (The Exim
News Service – Sept. 3)

AFRICA-TRADE specialist, Safmarine, and sister-company, Maersk Line, have introduced a second
direct weekly shipping service between Asia and West Africa.

A statement from Safmarine said that starting on September 3, direct port calls on the Far East/West
Africa 2 (FEW 2) service has been made at Port Klang (Malaysia), Tanjung Pelepas (Malaysia),
Lome (Togo), Cotonou (Benin) and Lagos/Apapa (Nigeria).

Safmarine Africa Region Executive, Mr Alan Jones, said, "Trade between Africa and Asia is very
strong at present, and we see the new service as an opportunity to further grow our business in
partnership with our customers".

The WAF 10 service will be renamed the Far East/West Africa 1 (FEW1) service, the statement
added, and offers a new port rotation of: Nansha, Hong Kong, Tanjung Pelepas, Walvis Bay
(Namibia), Tema (Ghana), Lagos/Apapa (Nigeria) in West Africa. The carrier did not, however,
state when the revised FEW1 will begin.

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Seaways Shipping to launch West Coast service tomorrow (Exim News Service - Navi
Mumbai/Hyderabad, Sept. 5)

SEAWAYS Group, a leading shipping and logistics service provider in India, has introduced a West
Coast service with m.v. Kinship Bangar. This service will connect Port Pipavav to Jawaharlal Nehru
Port (JNP) and New Mangalore Port (NMP). The service is scheduled to be flagged off from JNP on
September 7 to New Mangalore Port, followed by JNP and Pipavav.

This connectivity can prove to be of strategic importance for JNP in terms of effective transhipment
of cargo as also provide effective connectivity to the northern hinterland at Port Pipavav.

Exporters from the northern hinterland and main line operators (MLOs) can use this service to
connect at JNP, using the Pipavav route. m.v. Kinship Bangar is an Indian flag vessel, with 354-TEU
capacity, having 80 reefer points. She will be useful to the trade during the forthcoming reefer
season on the West Coast.

The vessel is capable of carrying dry and reefer cargoes and catering to the domestic cargoes
between Port Pipavav and New Mangalore Port, which would immensely benefit coastal trade.
Seaways is already successfully operating its feeder vessel service on the East Coast as well as
between India and Bangladesh.

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                                                                              Samsara Group, India




BUSINESS OPPORTUNITIES FOR CHARTERERS / SHIPOWNERS / SHIPBROKERS

STC to import wheat at $ 389.45 a tonne c&f (Exim News Service - New Delhi, Sept. 5)

THE Union government has approved State Trading Corporation of India’s (STC) import of 7.95
lakh tonnes of wheat at an average price of $ 389.45 a tonne, cost and freight (c&f).

This is more than double the weighted average of $ 191.31 a tonne at which STC had contracted 8
lakh tonnes in its tender floated in May last year.

Of the total 7.95 lakh tonnes, the bulk of 7.4 lakh tonnes will be supplied by Glencore International
AG, the Swiss commodity giant.

Alfred C. Toepfer of Germany would be supplying 50,000 tonnes at Chennai for $ 397 a tonne and
Starcom Resources of Singapore the balance 5,000 tonnes in containers.

The offer from the public sector Projects and Equipment Corporation (PEC) Ltd, at $ 394 a tonne for
Mundra delivery, could not be considered because it was higher than the price quoted by Glencore.

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Bulk of imported wheat to be of European, Canadian origin (Exim News Service - New
Delhi, Sept. 6)

THE Union government is likely to import the bulk of 795,000 tonnes of wheat from Canada and
Europe, it was reported here.

The government on September 3 had decided to purchase 740,000 tonnes of wheat from Glencore
International of Switzerland and 50,000 tonnes from the German firm Toepfer International.

Starcom of Singapore would provide 5,000 tonnes.

The government would pay a weighted average price of $ 389 a tonne, it is learnt. An official said
that the government would float more wheat import tenders despite high global prices.

"Delay will not help. Prices are bound to rise and it makes sense to fill our bins before wheat supply
dries up", the official added.

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                                                                             Samsara Group, India




NEW BUSINESS OPPORTUNITIES FOR LOGISTICS PLAYERS

Railways begins gauge conversion to connect hinterland to 4 Gujarat ports (Exim News
Service - New Delhi, Sept. 6)

Work on Krishnapatnam port link too under way

THE Railways has reportedly started work on providing hinterland broad gauge (BG) connectivity to
four small ports in Gujarat and one in Andhra Pradesh.

The Rail Vikas Nigam Ltd (RVNL), the Union government’s special purpose vehicle (SPV), would
be working on the gauge conversion of the Bharuch-Samni-Dahej port connectivity with the
hinterland.

It would also be undertaking the preliminary engineering-cum-traffic survey for rail connectivity to
Dholera port.

The Railway Ministry is also setting up a SPV for implementation of a 30-km new BG line between
Surat and Hazira port. The final location survey (FLS) for this project has been done by RVNL and
the SPV would be created once the principles for revenue allocation are finalised, Ministry officials
said.

The estimated cost of this project is Rs 130 crore.

Gauge conversion work on the 62-km Bharuch-Samni-Dahej line is being implemented by RVNL
through an SPV called Bharuch-Dahej Railway Co. Ltd. The estimated cost of this project is Rs 165
crore.

The FLS has been completed for this project and the report submitted to the Divisional Railway
Manager, Vadodara, in June.

The Railway Board is also examining the study report prepared by Rail India Technical and
Economic Services (Rites) for providing BG connectivity to Bedi port.

The Railway Ministry is also finalising a similar project at Krishnapatnam port in Andhra Pradesh.
It would be setting up a 129-km-long Obulavaripalli-Krishnapatnam BG line. The project is to be
funded through the SPV route, and the estimated cost of the project would be Rs 473 crore.

There are 180 small ports in the country. Gradually, all those ports which cater mainly to container
traffic, will be provided BG connectivity, it is understood.

Small ports in Gujarat have been taken up first as they cater to the traffic pertaining to
important commodities like oil and coal, sources added.

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Railways to explore public-pvt partnership for train corridors (The Economic Times – New
Delhi, Sept. 7)

Railways will explore the option of public-private partnership for building high-speed train
corridors, the Rajya Sabha was informed on friday.

"... the high-speed train corridors being highly capital intensive, the railways will find it difficult to
fund the project fully. Therefore, all modes of financing such as public-private partnership and
funding by state governments will be explored," Minister of State for Railways R Velu told the
House in a reply.

It was announced in this fiscal's budget speech that his ministry would conduct pre-feasibility
studies for building high-speed passenger corridors for running trains 300 to 350 km per hour in
northern, western, southern and eastern regions of the country, Velu said.

New Delhi Station: A consortium comprising Hong Kong's Terry Farrel and Partners and Ove Arup
and Partners and SMEC International Private Limited of Gurgaon have been engaged as consultants
for redevelopment of the New Delhi railway station as a world-class station, Velu said in another
reply.

Twenty-one other stations also have been identified for development as world-class stations, he
added.Ticketless Travel: A total of 16,935 passengers were sent to jail this year for ticketless travel
in trains, the minister said.

More than Rs three crore was recovered as fine and fare from ticketless passengers in the first seven
months of this year

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                                                                             Samsara Group, India




PORTS YOU WOULD WANT TO CALL IN INDIA

Rewas port to emerge as state-of-art, world class multipurpose facility (Exim News
Service - Mumbai, Sept. 3)

The Reliance Industries-promoted Rewas port, a few nautical miles away from Jawaharlal Nehru
Port (JNP) and Mumbai Port, is set to emerge as a state-of-the-art, world class multipurpose facility
in a few years.

This was highlighted by Mr K. V. Natarajan, President of Rewas Ports Ltd, while addressing a
Federation of Indian Chambers of Commerce and Industry (Ficci) conference on ‘Regional
Cooperation in Maritime Trade’ here last week. He also spoke to newsmen about the salient features
of the port on the sidelines of the conference.

A massive project, its first phase, involving an investment of Rs 5,114 crore, is scheduled to be
commissioned in October 2010. It will have 10 berths, comprising 4 for containers, 1 for
chemicals and POL, 2 for coal, 1 for cement and clinker, 1 for general cargo and 1 for car
carriers.

Completion of the first phase of the project will see a handling capacity of 55 million tonnes per
annum, which is planned to be increased to 457 million tonnes by 2040. The number of berths, too,
are estimated to go up to 70 by the same year. The first phase of the box handling capacity will be
2.6 million TEUs.

A key aspect of the project is the capital dredging, which is set to commence in January next year.
Costing a considerable Rs 1,800 crore, it will facilitate Rewas port having a draught of 14.5 metres
in the first phase. The draught will also be increased, to 20 metres in phases, Mr Natarajan pointed
out.

In tandem with the development of the first phase will come up a double-line rail connecting
the port to Pen as well as four-lane road connectivity. The port will have a large back-up area,
Mr Natarajan emphasised, as well as logistics parks and two of country’s largest SEZs in the
vicinity.

The port management will, in the near future, commence inviting bids for various associates,
such as terminal operators, etc, for the project, he revealed.

Mr Natarajan was emphatic in stating that there was a lot of scope for Rewas, as well as other ports
coming up or proposed on the West Coast, due to the sheer volumes of cargo to be handled.

He highlighted that the role model for Rewas was the Port of Rotterdam and that Rewas Ports Ltd
had a 50-year licence with the Maharashtra government.

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CCT achieves new milestone of OVER 1 LAKH TEUs IN AUG.! (Exim News Service -
Chennai, Sept. 4)

DP World Chennai has achieved a record throughput of 1,00,076 TEUs in August.

With this feat, Chennai Container Terminal (CCT) has reinforced its status as the premier container
terminal with 60 per cent of the market share among the four container terminals in southern India,
asserts a CCT press release.

At a function organised at CCT, the chief guest, Mr K. Suresh, IAS, Chairman of the Chennai Port
Trust (ChPT), congratulated the CCT team for crossing the one-lakh-TEU mark and assured full
support of the port in its future endeavours.

Mr Ennarasu Karunesan, CEO of CCT, thanked all the shipping lines, vessel operators, CHAs,
CFSs, transporters and the ex-im trade for supporting and helping them to achieve this feat.

He also thanked all CCT employees, Chennai Port, the Customs and all the well-wishers and users of
the terminal for helping CCT achieve the new benchmark.

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3,40,394 TEUs! JNP’s August Achievement (Exim News Service - Navi Mumbai, Sept. 5)

JAWAHARLAL Nehru Port (JNP) handled 3,40,394 TEUs in August 2007, which is an all-time
monthly record in container handling at the Port since its inception. Its earlier monthly record was
3,31,825 TEUs which was achieved in March 2007.

Out of 3,40,394 TEUs handled at JNP, JNPCT handled 1,08,867 TEUs, NSICT 1,23,017 TEUs and
at GTI by 1,08,510 TEUs.

The total traffic (including bulk cargo) handled at JN Port during August was 4.54 million tonnes.

The cumulative container traffic at JN Port during April to August 2007 stands at 1.61 million TEUs
against 1.28 million TEUs handled during the corresponding 5 months of 2006. Thus, there has been
an increase of 25.64 per cent in container traffic during the five months of current financial year
(April-August) over the corresponding period of 2006-07.

The Port handled a total of 21.48 million tonnes of cargo (including 1.60 million tonnes of bulk
cargo) during April-August 2007. The total traffic handled during April-August 2006 was 17.53
million tonnes.

A record number of 571 ICD trains were handled during August 2007, out of which 534 trains were
provided by the Container Corporation of India (CONCOR) and 37 by private operators. This is also
                                                                            Samsara Group, India




a record since inception of JNP. The previous highest was 534 ICD trains just a month earlier (in
July).

This all-time record performance was due to the concerted efforts of the officers and employees of
the Port, the terminal operators (NSICT and GTIPL), CONCOR and the Port customers, says a press
release issued by the Jawaharlal Nehru Port Trust (JNPT).

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Description: Present Performance of Private Life Insurance Players in Kolkata Life Insurance Market document sample