CCEA approves Rs 378 cr-grant for GAGAN project

The government on Tuesday approved a one time grant-in aid of Rs 378 crore as Budgetary support for implementation of GPS-aided Geo Augmented Navigation system (GAGAN). The GAGAN system, estimated to cost Rs 774 crore, would make the skies from South-east Asia to Africa, including Indian airspace, much safer.

The prestigious project, being developed jointly by the Airports Authority of India (AAI) and Indian Space Research Organisation (ISRO), would place India in the fourth position along with the US, Europe and Japan to have such an advanced navigation system.

"The Cabinet Committee on Economic Affairs has approved a one-time grant-in-aid of Rs 378 crore from the Government Budgetary Support (GBS) for implementation of GAGAN project...," an official statement said.

The project is expected to be ready for operational use by May, 2013, it said.

It would be an all weather national infrastructure and can be used by defence services, security agencies, Railways, surface transport, shipping, telecom industry besides personal users of position location based services, it said.

It will provide precision approach to all aircraft either landing at Indian airports or overflying the airspace, even over the high seas.

The system will offer seamless satellite navigation to air traffic across the Indian Ocean region.

As much as Rs 171 crore would be provided for the project for the current year, while for the next year, appropriate provisions would be made for the balance amount, the statement said.

Of the total project cost of Rs 774 crore, AAI was required to shell out Rs 604 crore, while ISRO was to contribute rest of the money (Rs 170 crore).

AAI has already spent Rs 226 crore and sought one time grant-in-aid of Rs 378 crore from the Gross Budgetary Support to meet its balance commitment, the statement said.

After completion of its final operational phase, GAGAN will be compatible with other Space Based Augmentation Systems like the Wide Area Augmentation System of the US, the European Geostationary Navigation Overlay Service and the multi-functional Satellite Augmentation System of Japan.

HT

Haryana Jats withdraw agitation after talks with Hooda

CHANDIGARH: The agitating Jats in Haryana, demanding reservation in government jobs under OBC quota, withdrew their three-week-long stir after talks with Chief Minister Bhupinder Singh Hooda at Jind on Friday night.

In a statement issued here, Hooda said those agitating had agreed to lift all blockades and dharnas with immediate effect.

It has also been decided to set up 'Haryana Backward Classes Commission' within a month, he said.

The Commission would consider the demand of communities of Roar, Jat, Jat Sikh, Tyagi, Bishnoi and others which wish to come under the ambit of the Backward Classes.

President of Haryana Jat Arakshan Samiti Hawa Singh Sangwan, President of Benayan Khap Dada Nafe Singh, and representatives of other Khaps thanked the chief minister for the decision to set up the Commission, an official spokesman said here.

The Jat agitation had paralysed rail traffic in many parts of northern India for the past several days as the community members had been sitting on dharna on the tracks at 14 different lines in the state.

The decision to withdraw the agitation comes a day after the Punjab and Haryana High Court directed the Haryana government to immediately get the rail tracks cleared of protesters to restore normal movement of trains.

The high court had also directed all the groups spearheading the Jat agitation to exclude the blockades of trains from their agitational programmes with immediate effect.

Also, the Supreme Court on Friday asked Haryana, Uttar Pradesh and Rajasthan governments to ensure that supply of essential commodities including water to the national capital was not disrupted in the wake of threats by Jats agitating for quota in central jobs.

Coca-Cola set to take plunge in juice market

MUMBAI: Coca-Cola India is readying itself for a big summer push as it enters the pure juices market dominated by arch-rival PepsiCo's Tropicana and Dabur's Real.

The world's biggest beverage maker will take a plunge into the high-growth juice market with three variants of Minute Maid juices-orange, apple and grape. It currently sells two juice brands-the mango juice-based drink Maaza and Minute Maid, which are all fruit-based but not pure juices.

Coca-Cola India has recently formed a separate division for juices to focus on its non-carbonated portfolio as all major food and beverage companies increasingly fortify their health portfolio in a market which is annually growing at 20%. Health products and juices have been at the top of these companies' bucket list since they have launched new products and categories to capture a share of the pie.

With an increased focus on the juice category, Coca-Cola India recently appointed Andriy Avramenko as its general manager of the juice business . Avramenko, who came from Coke's global juice centre (GJC) in Atlanta , heads a team that is focused exclusively on advancing the company's pulp-based beverages.

Confirming the launch, Atul Singh , president & CEO, Coca-Cola India and South West Asia, told TOI that the company sees an enormous opportunity in the packaged beverage market and, therefore, the launch is aimed at establishing the company's juice footprint after introducing Minute Maid Nimbu Fresh and Pulpy Orange.

Coca-Cola India is partnering with Future Group's Big Bazaar wherein the country's largest retailer will stock the product exclusively for a day before it hits the shelves of other retail outlets. Priced at Rs 85 for a litre and Rs 20 for a 200 ml pack, the company is looking to first target modern retailers considering the premium attached to the 100% juice category.

Recently, the country's largest consumer goods company, Hindustan Unilever (HUL), launched its first fruit-based drink under the Kissan brand to strengthen its foods portfolio. Estimated to be around Rs 700 crore, the juice market is divided into two categories-100 % (pure) and sweetened. While Dabur's Real is the biggest player in the juices market with about half of the market share, PepsiCo's Tropicana brand enjoys about 35% of this market. Other players include Parle Agro's Saint which has about 6-8 % besides a slew of regional players.

Both PepsiCo and Coca-Cola have been investing heavily in their non-carbonated portfolio with the increasing demand of healthbased drinks in India. To make a dent in this highly competitive market, Coca-Cola India, which is a late entrant into this category, has got Leo Burnett on board to handle its creative push.

The cola major has been expanding its non-carbonated beverage portfolio with launches like Maaza Milky Delite, its entry into the dairy segment, the ice tea brand Nestea with its joint venture partner Nestle, besides the fruit-based drinks Minute Maid Pulpy Orange and Minute Maid Nimbu Fresh.

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Market very close to 5600-5700 level: Deepak Mohoni

It has been steady uptick to the indices, what is the mood for the rest of the day, would you initiate long?

Yes, I woul continue with the longs which probably are now on for a day or two. The essential thing is we are once again approaching those 5600-5700 levels at which we have reversed and that is where the sellers are poised to reduce their positions.

Now if that supply is absorbed, then we indeed have a pretty good long term prospects in the market. That is the landmark really to look for now. We are very close back to this 5600-5700 level which we need to clear.
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