The Mines and Minerals (Regulation and Development) Amendment Bill, was passed by Rajya Sabha by voice vote today after rejecting the demand of Left parties to refer it to a select committee. The Bill was earlier passed by the Lok Sabha on December 8.

Replying to a brief discussion, Mines Minister Naveen Patnaik described the measure as "progressive" legislation in tune with the times and would bring in more investors in mining. Besides, it would check illegal mining.

Allaying fears expressed by members that it would lead to flight of mineral wealth from the country, he said the "investor-friendly" legislation would rather create more jobs. He said only Indian nationals or companies registered in India would be given mining lease licences.

Patnaik said the legislation would take care of environment and mining lease area involving more than five acres would require clearance from the Union Environment Ministry.

The Bill also prohibits transportation or storage of any mineral except under the provision of the Act to prevent illegal mining.

- 141299IE

With 14 road accidents per 1,000 vehicles, India has the dubious distinction of being one of the most accident-prone systems in the world, according to road transportation experts.

The Pune-based Central Institute of Road Transport (CIRT) reports that trucks have been found to be involved in the maximum number of accidents followed by cars and jeeps and buses. Among buses, those run by private transport corporations were involved in a higher number of accidents as compared to state transport undertakings, the CIRT’s Indian Journal of Road Management states.

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Union Minister for Heavy Industries and Public Enterprises Manohar Joshi today assured Rajya Sabha that the government can re-examine "duty structure" to help Indian companies which were being affected by the lowering of customs duty.

Replying to supplementaries on a question on disinvestment of public sector Hindustan Photo Films, he said as part of the liberalisation policy customs duties had been slashed which had affected Indian companies, some of which were facing closure because of their inability to compete.

- 141299HT

The Telecom Regulatory Authority (TRAI) today recommended up to 5% revenue sharing and a one-time entry fee of Rs. 500 crore for private players into national long distance (NLD) communications which will be thrown open to them in the new year.

Announcing its recommendations on opening up of NLD, TRAI chairman Justice S.S. Sodhi said an entry fee of Rs. 500 crore has been fixed with a Rs. 100 crore non-refundable portion to be paid in cash and the remaining as bank guarantee.

Apart from 5% revenue to be recovered from operations every year, TRAI also left an option to the government of levying a differential service tax.The license period has been fixed at 20 years and an option for a further 10-year extension later.

According to the proposed system, there will not be any bidding process and any player with a net worth of Rs. 2,500 crore and experience in the telecom sector can enter the market by submitting the blueprint of its program and paying the entry fee.

Of the Rs. 500 crore entry fee, Rs. 400 crore will be in the form of refundable deposit to be used as an incentive to ensure timely rollout of the network.

The fourth annual convention of the Punjab NRIs Sabha will be held from January 7 to 11, 2000, at Guru Gobind Singh Stadium, Jalandhar. This was disclosed by Mr. Iqbal Singh Sidhu, Deputy Commissioner. He said the convention would discuss various issues related to Punjab NRIs. The main state-level function of NRIs will be held on January 9, while a ‘Millennium Expo’ (Exhibition-cum-sale) of Products and Services will also be held along the Seminar.

- 151299TB

Japan’s second largest advertising agency Hakuhodo Inc. has floated a 50-50 joint venture with Precept to serve the advertising needs of Japanese ventures in India. The new JV expects a turnover of Rs. 20 crore for this fiscal and to double it by 2003. Hakuhodo executive director T. Jimbo told media-persons that since many Japanese companies, including its rival and Japan’s top advertising agency Dentsu, have already established their bases in India, Hakuhodo didn’t want to be left out. "We look forward to make a profound impact in India which we think is a promising market."

- 151299IE

Free power for farmers could be a thing of the past in Punjab if the state decides to follow suggestions from the Centre to dismantle such populist measures.

Although a decision to this effect is yet to be taken by the Punjab Government, according to sources in the central government such a decision cannot be ruled out especially since the Union Power Ministry is soon expected to be advising all states to shun such revenue-draining measures.

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Western Railways is organising a mega millennium exhibition – Centenary Odyssey 2000 – from December 28 to January 2000 in aid of the Orissa Calamity Fund. According to a release, the exhibition will offer a unique business opportunity showcasing the world of business, trade and infotainment. Besides boosting technology transfers and joint ventures it will open up a dialogue between the Railways and the corporate world.

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Creative Choice, an American housing firm led by an NRI, has pipped IT biggies Siemens Information Systems, L&T, Cisco and Zenith Computers at the post. A dark horse in the race, Creative Choice had been chosen to develop Gujarat’s I-T project, Info-city, at Gandhinagar.

The formal approval is likely to be given by Gujarat Informatics Ltd. (GIL) board sometime this week, according to secretariat sources.

"As many as seven consortia had submitted their RFQ (Request For Qualification) bid documents for the Info-city project. The bidders included L&T; a consortium of IT majors Cisco, Siemens Information System Ltd. and Symonds Travers Morgan of Malaysia; Zenith Computers; and Kulim Technology Management of Malaysia.

The feasibility of the project was conducted by Price Waterhouse Coopers.

According to the proposed plan for Info-city, the state government would hand over the development and marketing rights for the Info-city to the developer.

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British insurance firms are gearing up to devise attractive packages for India as they prepare to enter the market following the opening up of the insurance business.

Most insurance firms from Britain like Commercial Union, General Accident, and Prudential. Sun Alliance and Standard Life had set up joint venture companies long ago in anticipation of the change in the earlier policy.

"We will be looking to hire staff, who are already in the insurance business to build on knowledge out there already," said a human resources manager in a British company that has a long track record in India. An Indian manager with an insurance company in London said new packages in India would not repeat insurance packages in Britain.

- 151299FE

The Delhi government is now moving speedily towards privatising the Delhi Vidyut Board. The cabinet cleared the Electricity Reforms Bill 1999, setting in motion the process for restructuring DVB.

The Bill, which if passed by the Delhi assembly, will need the Union government’s approval before implementation. It proposes to divide DVB into six separate profit zones headed by a managing director like any profit-oriented private company. At present, DVB circles zones are headed by chief engineers and the revenue collection is monitored on a centralised basis.

Each company will work as an independent identity and will be responsible for transmission and distribution of power (ranging between 66 KA to 400 volts), consumer supply, metering and revenue collection.

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Hotel management company Hyatt International will spend half a billion dollars on projects in the country in the next 4-5 years, according to its regional director (South Asia) Rakesh Sarna.

The company manages the Hyatt Regency in Delhi. It is increasing its presence here with the $17 million project, the Grand Hyatt in south Delhi. It expects to open this property to guests by February next year.

The 390-room hotel, Hyatt International’s second venture here, is being promoted as a super-deluxe 7-star hotel to cater to the "top top-end" business traveller.

"It will offer more restaurants and food and beverage outlets and extensive business and health club facilities," Hyatt International’s director (communications) for Asia/Pacific Marina Bullivant said. The hotel spread over 10 acres of land at Vasant Kunj Phase II, will offer guests 7 restaurant outlets to choose from, besides giving them "Grand Hyatt’s feel of opulence and theatre," she added.

Hyatt International Hotels, which operates 59 hotels and resorts in 35 countries worldwide, has stepped up its interest in India. Its forthcoming projects include two hotels each in Mumbai and Calcutta and one each in Goa, Chennai and Bangalore.

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The Government constituted a group on telecom and IT convergence headed by Finance Minister Yashwant Sinha to resolve subsisting problems in the sector and expeditiously implement the new telecom policy.

The group, comprising Communications Minister Ram Vilas Paswan, Information Technology Minister Pramod Mahajan, Law Minister Ram Jethmalani will replace the Indian telegraph, 1885, will be drafted by the group recommending whether there should be separate legislation for telecom, broadcasting, cable TV, internet and satellite communications.

It has been asked to prepare suitable draft amendments t the Telecom Regulatory Authority of India (TRAI), 1997, to strengthen the sector and make it more independent.

The group will also make suggestions to resolve pending issues between TRAI and Department of Telecom, besides making recommendations on creation of a level-playing field between public and private operators.

The high-powered committee will also prepare a road map for corporatisation of DOT before the end of 2000.

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Berlin will host a major Confederation of Indian Industry (CII) initiative to bring together some 100 top German chief executive officers (CEOs) for the India Business Conference on December 17. The conference coincides with the G-20 meeting in Berlin and is to be addressed by Finance Minister Yashwant Sinha. The CII has tied up with its partner organisation in Germany – the Berlin-based Federation of German Industries (BDI), the Asia-Pacific Association (APA) and the Dusseldorf-based office of Indo-German Chamber in organising this meet.