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Composite silk unit in near Guwahati
Assam, which produces three types of indigenous wild silks – Muga, Pat and Eri, today got a composite silk unit at Chaygaon Industrial Growth Centre, near Guwahati. The composite unit, or Eri Spun Silk Mill, came up with an investment of Rs. 5.5 crore, which includes infrastructure for spun silk mill, machineries, looms etc. The unit is expected to go a long way in adding value to the silk industry of Assam. The unit was inaugurated by union minister of textiles, Dayanidhi Maran. For the establishment of the unit, along with additional facilities like weaving processing and dyeing etc., the Central Silk Board (CSB), under the ministry of textiles, and the state government of Assam had provided a subsidy of Rs. 155.30 lakh and Rs. 48.10 lakh respectively to the promoter of the unit, Fabric Plus Pvt. Ltd., for installation of machineries, equipments etc. The promoter also contributed an amount of Rs. 22.60 lakh.

FMCG majors in Greenpeace 'Red' list on GM foods
Greenpeace, the ecology campaigners, have okayed Pepsico, ITC, MTR, Dabur and Haldiram. But given a thumbs-down to Britannia, Cadbury, Hindustan Unilever, Nestle, Kellogg and Safal.

News of the day

IMF inks pact with Sri Lanka on $2.5 bn loan
The International Monetary Fund (IMF) has reached an agreement with Sri Lanka to provide the island nation with about $2.5 billion, to help it in its reconstruction efforts.
International Business

Airtel not affected by global slowdown

Telecom company Airtel today said it is not affected by the global slowdown as the sector still had growth prospects and that the recessionary trends are showing signs of ending in many countries. - Airtel Lanka achieves 1 mn customers, services in Wanni soon - Bharti Airtel: Bond with 'Special 5' - Tata Teleservices incurs Q1 net loss of Rs 34 cr - Govt considering partial stake sale in BSNL - MTNL for JVs in India, overseas markets: MoU - Raja faces flak on spectrum issue; Opposition walks out Bharti Airtel last Thursday reported a 24 per cent rise in its net profit at Rs 2,517 crore in the April-June quarter of the current fiscal. "Global recovery has started in some countries. As such this had not affected the telecom sector which is growing," Deputy CEO of Bharti Airtel Sanjay Kapoor told reporters here. Bharti Airtel Lanka, a subsidiary of Bharti Airtel, is one of Asia"s leading integrated telecom service providers with an aggregate of 100 million customers, a company statement said. Bharti Airtel has been featured in Forbes Asia"s Fab 50 list, rated among the best performing companies in the world in the Business Week IT 100 list 2007, and voted as India"s most innovative company in a survey by the Wall Street Journal, Kapoor said. Kapoor, without naming any prospective company that Airtel is planning to buy over in Sri Lanka, said the company is open to such proposals if there is compatibility with Bharti. It may be recalled that Bharti Airtel has revived its multi-billion dollar merger talks with South Africa’s MTN.


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