CORPO SCAN| April 2017

Manohar Parrikar is CM of Goa. New cabinet sworn in.

L to R: Pandurang Madkaikar, Vinoda Paliencar, Vijai Sardessai, Sudin Dhavalikar, Manohar Parrikar, Francis D’Souza, Manohar Ajgaonkar, Rohan Khaunte, Jayesh Salgaonkar and Govind Gaude
L to R: Pandurang Madkaikar, Vinoda Paliencar, Vijai Sardessai, Sudin Dhavalikar, Manohar Parrikar, Francis D’Souza, Manohar Ajgaonkar, Rohan Khaunte, Jayesh Salgaonkar and Govind Gaude

The Assembly elections in Goa was held on 4th February 2017. The electorate found an end to their curiosity with the results announced on 11th March 2017. As BJP secured victories in Uttar Pradesh and Uttarakhand, Congress party managed to win a comfortable majority in Punjab.

The political situation in Goa surprised all as Congress had the numbers for the formation of the Government but the entire scenario took a turn when an unexpected coalition emerged. The Congress party had many CM post aspirants among the elected representatives including former CMs Luizinho Faleiro, Ravi Naik, Digambar Kamat and Pratapsingh Rane; and hence were busy deciding their CLP leader. While BJP, on the other hand, had got their centrally imported leader Manohar Parrikar, elevated as Chief Minister.

The Bharatiya Janata Party (BJP), Maharashtrawadi Gomantak Party (MGP) and Goa Forward Party (GFP) coalition formed the Government under the leadership of Manohar Parrikar on 14 March 2017.

Goa Chief Minister Manohar Parrikar allotted portfolios to eight ministers seven days after they were sworn in.

Parrikar holds as many as six portfolios – home, finance, personnel, general administration department, vigilance and transport.

Since this is a Bharatiya Janata Party (BJP)-led government supported by two smaller parties and independents, Parrikar has had to reward allies with key portfolios.

Sudin Dhavalikar (Marcaim) of Maharashtrawadi Gomantak Party (MGP) has been given the important public works department while Goa Forward Party (GFP)’s Vijay Sardesai (Fatorda) gets town and country planning.

BJP’s Francis D’Souza, (Mapusa) who was deputy chief minister in the previous government, has been given the urban development department.

MGP’s Manohar Azgaonkar (Pernem) has been given tourism; and independent Rohan Khaunte (Porvorim) has got the revenue ministry.                                                Pandurang Madkaikar, (Cumbarjua) who quit the Congress party and joined the BJP just ahead of elections, has bagged the power ministry.

Independent MLA Govind Gawade (Priol), is minister for art and culture.

GFP’s Vinod Palyekar (Siolom) and Jayesh Salgaonkar (Saligao) have been allotted the water resources and housing departments, respectively



EDC Ltd pays Rs. 1276.61 lakh to Goa govt towards interest on land acquisition deposit

EDC Ltd pays Rs 1276.61 lakh to Goa govt towards interest on land acquisition deposit
L to R: Daulat Hawaldar, Arvind Ghatkar, Ralph de Souza, Purshottam Pednekar with Parrikar

Managing Director of EDC Limited Arvind Ghatkar handed over a cheque amounting to `1,276.61 lakh to Chief Minister Manohar Parrikar in his office at the Secretariat in the presence of IAS Finance Secretary, Daulat Hawaldar and Directors of EDC Ltd Dr. Purshottam R Pednekar and Ralph de Souza.

The Chief Minister was briefed on the performance of EDC and thanked for the guidance and support extended by the government in its functioning.

Over the last four decades, EDC Ltd has been an excellent delivery channel of the state government and has successfully implemented various schemes, projects as mandated to it. Initially, set up as a development financial institution it has given guidance, provided support and helped many first generation Goan entrepreneurs, by promoting industrial development in the state.

EDC has sanctioned term loans in excess of `2,450 crore to more than 10,000 units. Under Chief Minister Rojgar Yojana (CMRY) scheme.

EDC has financed more than 6,200 small enterprises in Goa. EDC operates the Modified Interest Rebate Scheme wherein Interest Rebate up to nine per cent is extended on loans availed by entrepreneurs setting up units in the designated backward talukas of Goa, women entrepreneurs and resident as well as non-resident Goans entrepreneurs



Cox & Kings launches Enable Travel

Cox & Kings launches Enable TravelEnable Travel, an initiative to provide tours and leisure outings for people with disabilities was unveiled in Goa after a formal inauguration in Delhi on March 16.

A first for India’s travel industry, Cox & Kings announced a specially designed travel itineraries for people with disabilities through Enable Travel,

“The initiative aims to make travel easy and hassle free in India and to enable every individual to celebrate their love for travel,” said Head of Enable Travel, Debolin Sen. Speaking to the press, he said that, through the initiative the company aims to address various barriers such as inaccessible travel information, lack of transport and disabled friendly hotels that prevent people from traveling.

The package includes quality transportation which will accommodate wheelchair accessibility, aids and accessories, as well as support services such as trained manpower, guides, escorts, etc.

Enable Travel has been designed and curated with the help of experienced travelers such as ABB’s Ganatra, Rustom Irani, a wheelchair-bound film-maker, Prabal Malakar, a former group captain affected by multiple sclerosis, Alim Chandani, Associate Vice-President at Centum Learning, who has a hearing impairment.

Speaking at the occasion, Divyanshu Ganatra said, “Infrastructure for disabled sightseers can only improve if more and more disabled travel regularly.”

Irani said that there are no travel guide books for people with disabilities but initiatives such as the one introduced by Cox and Kings could ease things for the disabled community.

“The company has already tied up with hotel groups for the latest project,” said Sen. Cox and Kings officials John Buckenham, General Manager, Goa and Thomas Thottathil, Vice President, Corporate Communications were also present for the press briefing


Day-long camp for entrepreneurs

Day-long camp for EntrepreneursCII-Young Indians in collaboration with the Centre for Incubation and Business Acceleration (CIBA) and Rotary Club of Mapusa organised an entrepreneurship boot camp recently on the 1st of April 2017 at CIBA, Agnel Technical Education Complex, Assagao. The camp concentrated on teaching start-ups on how to plan ahead and a better look at the financial prospects. The camp proved to be a great success that helped prospective entrepreneurs address shortcomings in their business plan.

The camp also trained the participants to get through tough questions from financiers. The day-long camp witnessed peers, experts and mentors who helped potential entrepreneurs identify business opportunities, refine business plans and prepare investor and elevator pitch


Kaman increases stake in joint venture with Kineco

Kaman Aerospace Group, Inc. (Kaman), a subsidiary of Kaman Corporation (NYSE: KAMN), and Kineco Limited (Kineco), one of India’s leading composites manufacturing companies announced that Kaman has increased its stake in the parties’ Indian manufacturing joint venture Kineco Kaman Composites India Pvt. Ltd. (JV) to 49% from 26%.

(L to R) Aditya Reddy, Shekhar Sardessai, Neal J Keating and James Carl Larwood

The Goa based JV manufactures advanced composite structures for aerospace, imaging/medical and other industries for customers including, BAE Systems, Hindustan Aeronautics Limited and Vikram Sarabhai Space Centre.

The announcement was jointly made in Goa by Neal J. Keating, Chairman, President and Chief Executive Officer of Kaman Corporation  and Shekhar Sardessai, Executive Vice Chairman and Managing Director and Promoter of Kineco.

“Our increased ownership stake reflects our commitment to this JV and confidence in the potential of the rapidly growing Indian aerospace industry,” said Keating.  “We entered the JV to support our strategy to provide our customers with a complete aero system solution.

The JV helps us offer customers a ‘one-stop’ full complement of seamless services including design, tooling, testing, certification, low rate initial production, through steady state high velocity production. We are proud of the significant progress that the JV has achieved in a relatively short time period and along with our outstanding partner, Kineco, strongly support the future business plan for the JV.”

Sardessai commented, “Kineco is glad to have a strong and supportive partner in Kaman and we thank them for reposing their faith in the JV. The very success of this collaboration over the past few years indicates how closely Kineco and Kaman have worked together in supporting the operation. Having built a strong foundation and a list of satisfied customers, the JV plans to undertake its first major expansion over the next 12-18 months, an investment plan that has received the approval of the Goa Investment Promotion Board. This investment reiterates our commitment to put Goa on the Indian and Global Aerospace and defence ecosystem as a result of our innovation and technology. We believe that strong governance and human capital have been the pillars of our achievements.”

The Kineco Kaman joint venture employs more than 150 people at its composites manufacturing facility in Goa. The business has brought together Kaman’s proven manufacturing know-how and decades of aerospace composites fabrication experience with Kineco’s knowledge of local markets and advanced composites manufacturing capabilities.

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