Codissia to explore biz opportunities with Austria, Switzerland

The possibility of importing raw material from Austria and Switzerland, for manufacture of components meeting the design and quality requirements of those countries for exporting back to them, would be explored during the visit of the Indian business delegation accompanying the President of India to those countries from October 3, according to the President of the Coimbatore District Small Industries Association, Mr M.Kandhaswami.

He would also look at the opportunity of using the two European countries as the launch pad for reaching out to the Euro Zone market as some of the industries in Coimbatore region have clients there .

The Codissia President, who is a member of the CII business delegation accompanying the President, Ms Pratibha Patil, during her visit to Austria and Switzerland from October 3-6, told Business Line the main aim of the visit was to promote business relationship between India and the two European nations. The delegation was going with an open mind as `we have to find market’ for our products.

Mr Kandhaswami said the European countries, because of environmental concerns, were phasing out foundries, spinning units and paper mills and he sensed business opportunities in these sectors for the region.

He said during his discussions with the industrialists in the Coimbatore region, he found that many companies here were being supplied with raw materials like steel alloys by European nations for manufacturing finished products on a job work basis since they were able to source the raw materials cheaper elsewhere whereas the labour and processing were cost competitive in India. Mainly auto and textile components and general engineering goods were produced on a job work basis in the region for export meeting the design and quality parameters of their raw material suppliers. He said he would like to take this process forward.

The Codissia President said the two nations have also expressed interest in investing in Indian companies and to become partners. He felt that while the MSMEs in the region may not be keen to allow foreign equity in their companies, they would be ready to have technological tie-ups and buy back arrangements with Austrian and Swiss companies.

Conceding that the potential of Austria and Switzerland was limited because of their size, he said that he would like to enquire whether these countries could be utilised as storage hubs for supplying products to the European countries just as Dubai or Bangladesh are used for reaching out to markets in the neighbouring regions. Already many Coimbatore engineering companies were exporting to countries like Germany and this possibility merited consideration.

He said he would also invite the Swiss companies, some of which supply precision machines to Coimbatore companies, to participate in the forthcoming INTEC exhibition organised by Codissia. Apart from him, the five-member CII business delegation has members from Kolkata, Delhi and Bangalore.

Entrepreneur organisation announces GSEA National Champion

Winner Sapan Kadakia will represent India in Global Student Entrepreneur Awards (GSEA) World Finals in New York City, USA

Ahmedabad student Sapan Kadakia, MCO Marketing and a student of MICA won the Global Student Entrepreneur of the Year Award (GSEA 2011) India Finals held at PSG College of Technologies – Science & Technology Entrepreneurial Park, Coimbatore, overcoming challenge from 23 contestants from 9 different states in a tough competition organised by Entrepreneurs Organisation (EO) Coimbatore Chapter on September 1, 2011.

The national winner will advance to the 2011 GSEA World Finals in NYSE, New York for the opportunity to engage with world class entrepreneurs, receive media exposure, win cash prize and share over $150,000 in donated business services.

30 National winners from around the world will compete for the title of Top Student Entrepreneur in the World at the New York Stock Exchange on November 17th 2011. To get there, the finalists have surpassed more than 1,800 nominees who participated in National finals in over 40 countries around the world.

“The EO - GSEA India finals is the first big scale event organised to recognise undergraduate student entrepreneurial spirit and help propel its growth”, Vikram Mohan, President of EO Coimbatore Chapter, which organised the premier event said. “The Global Student Entrepreneur Awards offers our student generation a tremendous opportunity to showcase not only their academic excellence but also their business insight. It represents the greatest hope for our economy and society. These students are leveraging their own creativity and innovation to bring new ideas into the marketplace and create new jobs.”

“We were overwhelmed to find hundreds of inspiring student entrepreneurship stories cutting across various sunrise sectors such as in Science, Technology /IT, Engineering, Media/Advertising, Sports Manufacturing, Finance and in Education/Consulting businesses vying for the top slot before we shortlisted and choose the winner from 30 finalists.” Vikram Mohan added.

Sapan Kadakia, MCO marketing, from Ahmedabad, Suraj Krishnan Mark & Make from Pune, Mohammad Asif, Jazaa Financial Advisory from Delhi, Durgesh Nandan, Automotion Ads, Lucknow, Animesh Sarangi, Amazing Youth from Orissa, emerged as top five student entrepreneurs by afternoon.

The top five had a tough round to show case their business potential. Along the winner Sapan, first runner up Durgesh Nandan of Automotion Ads, Lucknow and Second Runner up Animesh Sarangi of Amazing Youth, Orissa were also declared..

The judges were Anil Sivadas, Chairman Enventure Technology Services, Anupam Thareja, Founder and Managing Director of PHI Advisors, Ashok Bakthavathsalam Managing Director K G Informations Systems, Jayadev Galla, Co-Founder Amara Raja Group,Kavitha Varadaraj, Managing Director Primero Intimates & Sr VP FICCI Ladies Organisation, Manav Goyal, Executive Director, Adyar Gate Hotels, Padmaja Nair, GM FIBU (SBI), Vikram Ramakrishnan Managing Director, Thinking Palm, & Founder Linkstreet Learning.

In 2010, nearly 2000 students from 44 countries were nominated to the GSEA. Over the course of 5 months, the students participated in rigorous regional competitions that brought the field down to the top 30 “dorm room entrepreneurs.” These students converged at the GSEA Global Finals at the Kauffman Foundation during Global Entrepreneurship Week in Kansas City, MO last week. Spanning all industry sectors, these student-run companies earned annual revenues ranging from $20,000 to $3 million.

Coimbatore firm builds 'longest' periscope for Kalpakkam plant

A 10-metre long periscope manufactured by a city-based firm for a nuclear reactor at the Indira Gandhi Centre for Atomic Research (IGCAR) in Kalpakkam was dedicated to the nation on Monday. The manufacturers claimed that the periscope was the longest in the world.

Manufactured at a cost of Rs 3.9 crore by Coimbatore-based Visual Education Aids (P) Ltd (VEA) in collaboration with IGCAR and others, the periscope was handed over to Bharatiya Nabhikiya Vidyut Nigam (Bhavini), Kalpakkam, by IGCAR director S C Chetal here.

Built with specification from Bhavini and Bhabha Atomic Research Centre over a period of two-and-half years, the periscope can function under high temperature and radiation. This periscope has facilities for scanning the area of interest, image zooming, image relay, image focusing and image rotation, which are motorised and can be remotely operated by an operator with a remote control panel.

Chetal claimed that developing the periscope was a major step's in the country's goal to become self-sufficient in technology and is a good example of public-private partnership to produce world class quality equipment.

He said except two reactors in Tarapur and another two in Tamil Nadu all the other eight nuclear reactors have been indigenously built. India plans to generate 20,000 MW of power through nuclear reactor in the next two decades. More reactors would come up in next decade, he added.

Coimbatore chosen as preferred destination

Australian States of New SouthWales and Sydney today invited entrepreneurs and industrialists from Coimbatore to invest there, especially inthe Engineering, biomedical sectors and also textile sectors.

Both the States have chosen Coimbatore as the preferred destination for attracting investments, following the strong presence of India's top companies from these sectors in the region, Rohit Manchanda, Director, Trade and Investment, India for New South Wales, told reporters here.

Stating that the Governments of Australia and India had agreed to support cutting-edge biotechnology research, funding eight collaborative projects between the scientists, Manchanda said this initiative would help develop partnerships to tackle the big issues facing communities in Australia and India, inhealth, agriculture, energy and water management.

When asked about investment pattern, he said that it could be any kind of projects, be it individual or joint ventures and with transparent and conducive policy, it would not be any problem for Indian industrialists in Wales.

He also said that New South Wales had recently signed MOU with Gujarat Government in vocational education field, and train trainers in 15 courses.

With Wales contributing 33 per cent--402 billion dollars,to Australian GDP, the bilateral trade between India and NewSouth Wales amounted to 1.75 billion, Manchanda said.

Since Australia was strong in Irrigation andagri-business, Coimbatore, which was popular for pumps and motors, would have adequate business potential to tap in boththe States, Manchanda added.

Source:One India