Maharashtra eyes 7.4 per cent growth during 10th plan
Mumbai: The Maharashtra government, having a debt burden of a whopping Rs 84,686 crore at the end of fiscal 2003, has set a target of 7.4 per cent growth in gross state domestic product (GSDP) during the 10th Plan. It has projected a 8.22 per cent growth rate for the industry and 8.09 per cent for services sector. In its presentation to the Planning Commission last week, the state government admitted that though the target of 7.4 per cent was on a higher side, it would make all-out efforts to achieve the goal by the end of the 10th Plan. However, the state government has made it clear that the state’s agriculture sector would have to grow by 3.56 per cent annually against 1.64 per cent achieved in the 9th Plan in order to achieve the growth rate of 7.4 per cent.

State government sources told that there was a need to focus on research and development of high-yielding crop varieties and technology-oriented agronomic practices suited to dryland agriculture especially when one third of the state’s area falls in the rain shadow region where the rains are scanty and erratic. The projected growth rate of 8.22 per cent for the industry would be higher by about 1.65 per cent compared to the growth achieved during 1993-94 to 1999-00. The state has admitted that the industrial growth rate has shown wide fluctuations in recent years and remained rather “subdued” during the last 2-3 years. “The slowdown can be largely attributed to global recession, constraints in infrastructure and low demand. Maharashtra has gone through the process of restructuring which has seen stagnation in growth in the manufacturing sector,” government sources said.
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Sugar exporters eyeing more overseas markets
New Delhi: Despite the global slump, Indian sugar exporters are in search of new markets. They have tapped new market in Georgia to which 16,000 tonne sugar has been exported and negotiations are on for more export. Exporters are trying to increase exports to Sri Lanka and Malaysia, which import small quantities of sugar from India. Total exports of sugar has crossed 15 lakh tonne in the current sugar year and is expected to touch 20 lakh tonne as per industry sources. About 16,000 tonne sugar has been exported to Georgia at $244 per tonne on cost, insurance and freight (CIF) basis and delivered at Poti port, said managing director of National Federation of Cooperative Sugar Factories, Vinay Kumar. He said this deal again proved India’s credentials of selling high quality sugar in the world market as it was of below 100 icumsa (lower the icumsa better the quality of sugar). He said that another 12,500-13,000 tonnes will be sold shortly. Kumar said he had visited Georgia in April as part of the food ministry delegation and trade parleys were facilitated by the Indian diplomats there.
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Software cos can thrive amidst MNCs, local firms, says survey
New Delhi: Domestic software companies can position themselves in China between the high-end market dominated by MNCs such as IBM and local Chinese firms. There is a big gap between these two segments. Indian firms can target mid-size companies looking for reliable enterprise — wider applications and cheaper services compared to MNCs, says a CII survey. The survey is part of the briefing paper prepared for Prime Minister Vajpayee’s ongoing visit to Beijing. The survey says in terms of business opportunities, China offers four options of revenue streams to Indian software firms — outsourcing, expansion, domestic market and enhancing market access. Intel has proposed to spend $100 million on a micro-processor assembly plant in Shanghai, and Microsoft is planning to invest $750 million in software, research, training and hardware. There are obvious linkages for Indian companies to establish connections with these multinationals, says the survey. The local Chinese market itself is seen as a huge business opportunity, particularly in terms of embedded software, because of China’s predominance in hardware. Industry experts say, China also provides a good market for mid-range software service providers, especially in the banking, telecom & retail sectors. Computer penetration in China is 13.2 per 1,000 against India’s 6.2.
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