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Latha Jishnu: The campaign against that pesky 3 (d)
For the Americans (and some Europeans) it’s “that pesky section”. And the US government is throwing its weight behind an industry campaign to discredit this section if not get it removed from India’s Patent Act. Yes, of course, it is Section 3(d) that is under attack from big pharma which has lost no opportunity in pointing out that this law will stifle the growth of India’s own drug companies and also choke off foreign investment in the sector. In recent weeks, this campaign has picked up in tempo both here and abroad.

Credit information bureaus trip on new FDI norms
The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors.

News of the day

3G: Raise funds locally now, refinance via ECB later
The government today allowed prospective 3G bidders to raise funds from domestic markets, which could later be refinanced through debts raised abroad, giving a major boost for 3G spectrum auction.
Home Business

UniverCell plans 700 stores

Chennai-based mobile retail chain, UniverCell, will be opening 700 stores across the country in the next two years. Each outlet will entail an investment of Rs 28 lakh. - Motorola dials in profit in Q3; bullish on future prospects - Motorola launches Google"s Android based handset - Motorola bags communication deal for Mumbai, Delhi Metro - Handset makers jump on to social networking bandwagon - Motorola banks on Android to revive phone business - 4G threatens to spoil govt"s 3G party “The expansion is in line with the increasing mobile subscriber base and the likely entry of six new players into the Indian mobile services market including Datacom, Etihad, Loop, Telenor, Swan and Loop, which are expected to commence operations in the country pretty soon,” Satish Babu, founder of UniverCell, told mediapersons here on Sunday. The company today roped in Tollywood actor Mahesh Babu as its brand ambassador. UniverCell, which currently has 300 company-owned stores across the four southern states including 70 in Andhra Pradesh, is trying to touch 400 stores by March 2010 through the franchisee mode. “This expansion will also see our foray into east and north Indian markets by the end of next quarter,” he said. Stating that Andhra Pradesh, which sees a net addition of 1.5 million mobile connections every month, is a major market for UniverCell, Babu said the company intended to open 100 more stores in the state in the next one year. While ruling out any plans to launch their own mobile brand, Babu said the company was selling a sub-Rs 4,000 handset through an exclusive tie up with LG and was in talks with other manufacturers like Motorola, Karbonn and Nokia for similar collaborations. “We expect to seal the deals with them in a month or two,” he said, adding the company expected to see a 20 per cent growth in revenues this financial year, as against Rs 500 crore last fiscal.


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