Oil Minister, Murli Deora recently revealed

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Allegations of cartelisation notwithstanding, aviation companies do need to come out of their ‘losses’ misery or else they will soon die a natural death. Given their miserable situation, creditors are getting jittery, including oil companies and airports that have started to pester them for clearing their outstanding dues at the earliest. On the one hand, Mumbai International Airport is demanding its due bill to be cleared at the earliest, and on the other, Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (HPCL) have even issued a deadline of 15 days for dues clearance.

Oil Minister, Murli Deora recently revealed that Jet had defaulted on fuel-bill payments of $53 million to IOC. And the situation is grim for the entire industry. Jet, Kingfisher and Nacil together owe nearly Rs.1,800 crore to oil companies (beyond their credit limits), out of which almost 60% needs to be paid to IOC, and the rest to HPCL and BPCL. IOC has further revealed that Jet Airways has exceeded its credit limit of Rs.600 crore by Rs.330 crore, while Kingfisher, whose credit limit is around Rs.60 crore has exceeded by around Rs.40 crore. Nacil has no credit limit, but the company owes a staggering Rs.606 crore to them.

Moreover, the real problem faced by the industry is that of fixed costs that includes salaries and other operating costs. Figures unveil that the number of employees in Jet went up from 11,088 as on March 31, 2007 to 13,163 through March 2008 because of which salaries, increments and benefits for the same period also swelled up by 28.5% from Rs.938.1 crore to Rs.1,205.2 crore. Jet alone is anticipating a quarterly loss of over $103 million and this is when overall revenues are estimated to shoot up by nearly over 50% as against the same quarter of the previous year (due to growth in its international services).

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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India and Egypt have had a strong link for centuries

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What potential does Egypt hold for Indian business houses?
If you consider India, particularly, then India and Egypt have had a strong link for thousands of years and this cultural legacy has helped Egypt to become unique for India. We offer cheap skilled labour, and the geographical richness makes Egypt one of the best place for investment.

Both India and China have adopted different strategies for Africa. Which is a better approach?
We think both the approaches by India and China are equally important for Egypt and Africa. Egypt needs both FDI in heavy industry like iron ore and at the same time buoyant entrepreneurs from India who can develop the economy. The aim should be in making a win-win situation and in such condition; both the approaches will keep on helping African economy.

Is Africa becoming the new testing ground for India Inc.’s ‘brand’ war with corporate China?
I think Mr. Manmohan Singh in the India - Africa Summit, made it very clear that India is not competing against China in Africa, rather both of them are complimentary and Africa always welcomes those countries, which work for the benefit of this continent. In Egypt, both India and China have been contributing and working on different grounds and we don’t see that there’s a ‘brand’ war.

What, according to you, are reasons behind their (India and China) renewed focus on Africa?
We don’t think that the focus is renewed but I think there are certain areas, where the focus has increased like in Iron ore, IT and textile. African Governments are facilitating the code of investment and in Egypt we have created a very strong banking system. We also organise exhibitions, last year we had 16 ministerial visits.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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IIPM INTERNATIONAL - NEW DELHI, GURGAON & NOIDA
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“We do not see much competition from China”

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V. VENKAT, CEO AND EXECUTIVE DIRECTOR , EMAMI LIMITED

Can you share your plans for the African market? Where and how much are you planning to invest in this market in the near future?

Currently we export personal and healthcare FMCG products to East and North African countries. We have distributors who buy and distribute in the respective countries. However, we have plans to look at a manufacturing facility in one of the appropriate African country. But that’s sometime in the future.

Is Africa fast becoming the testing ground for India Inc.’s ‘brand’ war with corporate China?
We feel this question is not applicable to personal and healthcare FMCG organisations at this point of time as we do not see much competition from China in the personal care space.

What, according to you, are reasons behind their (India and China) renewed focus on Africa?
For Indian personal care products Africa is certainly an attractive market place as it offers a reasonable size of market and lower entry barriers.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Programme :- SUPERIOR COURSE CONTENTS
Now IIPM's World-Class Education... for everybody!!
IIPM INTERNATIONAL - NEW DELHI, GURGAON & NOIDA
IIPM - Admission Procedure
IIPM : EXECUTIVE EDUCATION
IIPM’s 36th Glorious Year of Academic Excellence
4Ps Power Brand Awards 2007
When IIPM comes to education, never compromise
Why Study Abroad When IIPM Gives You 3 global Advantages!
IIPM Ranked No. 1 B-School In Global Exposre - Zee...