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Sunil Jain: Throwing money at the problem
India has a huge infrastructure problem and the solution so far appears to be to throw more money at the problem, without much effort to fix the core issues. A McKinsey analysis suggests India could lose up to around 10 per cent of GDP in the year 2017-18 due to shortage of infrastructure. While this is not a startling result, what is worrying is that the quality of expenditure has gone down with more money being spent. So, in the power sector, actual expenditures have fallen from 75 per cent of those planned in the 9th Plan period to a mere 58 per cent in the 10th one — roughly speaking, the 9th Plan was the NDA period and the 10th Plan the UPA’s first term.

One Joshi too many
Once the dust settles over the arrest and release of UP Congress chief Rita Bahuguna Joshi, it is expected she will be replaced soon. Apart from the crassness of her remarks, the party feels that since B L Joshi has been appointed as the state’s governor, it would be a good idea to appoint an OBC as the party chief in the state.

News of the day

Alstom to have 33.3% stake in NPCIL-BHEL venture
Nuclear Power Corporation of India (NPCIL) today said French power equipment maker Alstom will be the third partner and hold 33.3 per cent stake in the proposed joint venture with Bharat Heavy Electricals (BHEL).
Small Business

Mafatlal Industries to alter product mix

Mafatlal Industries, a flagship company of Arvind Mafatlal Group, is planning to increase production of school uniform and corporate uniform by reducing capacity of non-profitable product ranges like industrial fabrics, sheeting’s, government supply products etc. - Exports of cotton yarn and fabric down 45% in March - Chikan set to get brand makeover - India may impose safeguard duty on 12 Chinese items - Investment of Rs 1.50 lakh cr seen in textiles - Mafatlal to rejig product mix for domestic market - "Export sops may not reach cotton producers" The company manufactured and sold 5 million metres of school uniform during the current season beginning April as against 4 million metres last year. For the next season, however, it is proposing to manufacture school uniform 6-6.5 million metres. According to Raghunath M B, Vice President (sales & Marketing) of Mafatlal Industries, “The reduction of non-profitable quality production can give us additional capacity of 4-5 million metres per annum. In addition to increase the production of school uniform fabric we are increasing the production of yarn dyes and white fabric ranges to utilize this excess capacity.” Currently, the company operates with 92 per cent of capacity utilisation. At present, the size of school uniform market is Rs 10,000 crore while the corporate uniform market size stands at Rs 2000 crore. Both these markets are growing at 15 per cent despite recessionary impact in other sectors. Mafatlal Fabrics is promoting their products directly at school level along with local retailers and tailors/ converters. They are appointing school uniform dealers all over the country and organizing presentations and seminars for school authorities with the help of local dealers. Mafatlal is using 3-D computer presentation with more than 100 patterns and designs with the support of more than 5000 designs in shirtings and more than 200 designs and sets in suitings. The century old Mafatlal Industries, currently, have two integrated 100 per cent composite mills situated at Nadiad and Navsari in Gujarat. The company is proposing to enter corporate gift business products for FMCG and pharma companies. Meanwhile, the company has re-introduced their brand “Mafrene” in sarees in chiffon, georgette, spun etc. between the price range of Rs 300-Rs 550 per piece. Also, it is re-launching “Dreamz” bed fashions in polyester-cotton fabrics and cotton fabrics of Rs 395-Rs 600 price range.


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