Page 52 - DLIS402_INFORMATION_ANALYSIS_AND_REPACKAGING

Unit 3: Information Products

Notes

Indian exporters are also exploring other new markets including South America and
East Asia in order to reduce their dependency on the West.

3.6.6 Budget 2011: Direct Payments to Replace Inefficient Fertilizer Subsidy

The government has set a March 2012 deadline for kicking off direct payment of fertiliser subsidy to
farmers below the poverty line, taking a leap of faith to promote farm sector growth. The cash
transfer is likely to be governed by the modalities set by a task force led by Nandan Nilekani that is
expected to file its report in June. Currently, the subsidies are paid through fertilizer companies.

3.6.7 World’s First Carbon Foam Battery Unit Comes up in Gujarat

The world’s first facility to manufacture carbon foam batteries will be set up at Bavla near
Ahmedabad. Firefly Energy India is planning to build a plant to produce carbon foam batteries at
an investment of ` 125 crore (about US$ 2.75 million), the company’s chairman Mukesh Bhandari
said. The promoters of furnace maker Electrotherm acquired the US battery maker, Firefly Energy,
in October 2010 along with its patented technology. Firefly Energy India will start production of
carbon foam batteries, which are environment-friendly and have longer discharge cycles, by June
2011.

3.6.8 Auto Makers Post Strong Sales in February 2011

Indian automobile manufacturers continued to drive a robust growth track in February as customers
advanced purchases fearing the Union Budget might hike excise duty on cars. The Budget for 2011-
12 unveiled recently, however, left excise duty unchanged at 10-22% (contrary to an expectation of
a 2% hike) and has been hailed as positive for the sector by experts and analysts, boosting auto
shares and lifting the benchmark share index Sensex. The country’s top carmakers Maruti Suzuki,
Tata Motors, and Mahindra & Mahindra saw yet another month of double-digit sales numbers
despite rising interest rates and looming fears of increase in fuel prices amid surging global crude
oil.

3.6.9 South Grows as Automobile Hub

Tamil Nadu is expected to be a leader in automobile industry in the country with Chennai alone
having a capacity to produce 2.2 million vehicles per annum in the near future, said deputy chief
minister M K Stalin. The state government is presently in the process of drafting a sector specific
policy for automobiles which will contain many new initiatives not only to attract new investments
but also to improve the competitiveness of the existing units, he added.

3.6.10 Foreign Tourist Arrivals in India Rise by 9.7% in January 2011

Foreign tourist arrivals in India witnessed an increase of 9.7 per cent in January 2011, with 538,482
foreign tourists visiting the country as compared to 490,868 visitors in January last year, according
to data released by the Ministry of Tourism. Meanwhile, the ministry is planning to conduct road
shows abroad to promote Indian destinations, besides participating in various international travel
and tour fairs.

LOVELY PROFESSIONAL UNIVERSITY 47