OPINION, P2 EXPRESS ADDA An account forvotes! IDEA EXCHANGE CHETESHWAR PUJARA Derek O’Brien ‘When celebrating, you don’t get carried away because you respect the game’ Page 8 ACROSS THE AISLE, P CHIDAMBARAM ‘None of us in the Oppn are expecting 272 seats... But it is match on. We have got the momentum’ Page 4 WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL XV NO. 24 RUCHIR SHARMA ‘No regional leader capable of breaking state borders for top spot at the centre’ KOLKATA SUNDAY, FEBRUARY 10, 2019, 16 Pages, `10 (NE States & Andaman `13) P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , Art to wear From jewellery to clothes, a new crop of Indian designers are rewriting the rules of fashion to create works of art that break free from the canvas, taking the shape of wearable art ■ LEISURE, P9 War on waste Two environmentallyconscious children have taken up arms against the national capital’s colossal waste problem, educating people to recycle their waste responsibly ROHNIT PHORE TWITTER CEO AND top officials have declined to appear beforetheparliamentarycommittee on IT that had summoned them over the issue of safeguardingcitizens'rightson socialmediaplatforms,sources in the panel said Saturday. The parliamentary committee, headed by BJP MP Anurag Thakur, had issued a summon toTwittervia an official letter on February 1. The committee meeting was scheduled for February 7, but was later postponed to February11 to allowtheTwitterCEO and senior officials more time to make themselves available. Twitter cited “short notice of the hearing” as the reason, Twitter CEO Jack Dorsey despite being given 10 days to travel,the sources said. The lettersent toTwitterby the parliamentary IT committee on February1 clearlystated that “it may be noted that the head of the organisation has to appear before the committee”. It further stated that “he/she may be accompanied by another representative”. The parliamentary IT committee received a letteron February 7 from Vijaya Gadde, Twitter’s global lead for legal, policy,trustandsafety,stating, Cube Highways frontrunner to buy Sadbhav projects While FE could not ascertain the size of the transaction, in a recent call with anaSADBHAVENGINEERING (SEL) lysts, Nitin Patel, ED & CFO, is in the final stages of discus- SEL, had said the enterprise sionstosellachunkofitsroads value of the projects is over portfolio in its subsidiary `10,000 crore. SadbhavInfrastructureProject Sourcessaidtheprojectswill (SIPL), to Cube be divided into Caisse de dépôt et two groups, those Highways. As persources, already operaplacement du I Squared Capitaltional and those Québec had also backed Cube under construcbeen in talks with Highways has tion.SIPLwillraise Sadbhav, as well as funds from the emerged as the Canadian Pension sale of the operafrontrunner for Plan Investment 12 of SIPL's road tional projects to projects from fund the underBoard among those that construction ones were in discusas well as make sions with the capitalavailableto Ahmedabad-based roads bid for and invest in new prodeveloper. Caisse de dépôt et jects. It will strike a pre-sell placement du Québec (CDPQ) agreement to dispose these had also been in talks with projectsoncetheirconstruction Sadbhav, as well as Canadian is completed. Pension Plan Investment Board (CPPIB). Continued on Page 11 ROUHAN SHARMA Mumbai, February 9 QuickPicks US-China trade talks to resume US NEGOTIATORS are preparing to press China next week on longstanding demands to reform how it treats American companies' intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports, reports Reuters. A new round of trade talks begins in Beijing on Monday. CLARIFICATION THE STORY “Ola gets new COO inPuneetBhirani”onFebruary7 had some inaccuracies. It said Ola CEO Bhavish Aggarwal wouldbemovingintoanewinitiative within the group, along with Sandeep Divakaran who wasCEOofOlaFleetTechnology. It is not Aggarwal, but only Divakaran who is moving to a new role. The story also incorrectly reported the reasons for Pallav Singh, one of Ola’s cofounders,leaving – he was leaving to pursue entrepreneurial ambitions, not due to a difference with Aggarwal.The errors areregretted. Digital adds new twist to radio brands New business offerings including music streaming and concerts can constitute upto 20% of overall revenues for FM radio players ANKITA RAI New Delhi, February 9 THE HUMBLE OLD FM radio may not be out of fashion yet. It still possesses the advantage of offering a complete package of music and non-music contentwith a significant amount of loyalty attributed to the brand personas/RJs. However, there’s the persistent threat of modern day music streaming playersrampinguptheirofferingsbeyondmusic,byincorporating talk shows and podcasts. With a significant overlap in target group as well asahugereachthankstocheap data prices, are music streaming apps eating into the market share of radio? “As audio OTT proliferates, there will be an impact on radio.FMradiostillhaslimited penetration,” says Jehil Thakkar, partner, Deloitte. NEW BEATS ON YOUR PLAYLIST ■ Radio players are going beyond traditional radio programming and having offerings like digital channels and videos ■ While audio OTT players have only just begun offering non-music content, for radio players it has been a key source of consumer engagement ■ Global brands can now take advantage of radio channels available on platforms like Soundcloud, Spotify, Saavn, and others “Part 1 of phase 3 radio licensing didn't cover all the small towns and cities.The coverage in those areas will come from audio OTT apps, thanks to declining data prices.” In fact, Prashan Agarwal, CEO, Gaana, says a lot of con- H Y D E R A B A D , K O C H I , Twitter CEO,officials refuse to appear before parl panel PRESS TRUST OF INDIA New Delhi, February 9 tent similar to radio is finding place in music streaming, too. “There is a decent overlap between radio and music streaming apps. Consumers are switching between different mediums from video to audio to radio,”he adds. This could explain the increasing trend of radio players going beyond traditional radio programming and having offerings like digital channels and videos. For example, Radio City has 52 web radio stations across 11 languages. It also offers music and non-music content via the Radio City App. “ When compared to an online streaming app, we are similar, yet so different. As part of our digital strategy,we offer select terrestrial shows, along with exclusive digital content,” shares Rachna Kanwar, COO, digital media, Jagran Prakashan,adding,“For example, one of our online properties,RadioCityJokeStudio, became a national show across all Hindi speaking markets.” Continued on Page 11 Page 5 READ TO LEAD DATA PRIVACY ● Twitter cites 'short notice' for meeting slated for Feb 11 ■ SPOTLIGHT, P7 ODD & EVEN FINANCIAL EXPRESS ON SUNDAY K O L K A T A , L U C K N O W , Jaitley returns from New York M U M B A I , N E W D E L H I , P U N E Maruti unlikely to build diesel assembly line at new Haryana plant PRITISH RAJ New Delhi, February 9 “No one who engages publicly for Twitter India makes enforcement decisions with respect to ourrules forcontent oraccountsinIndia.” Deputing a junioremployee to represent Twitter at the Indian committee has not gone down well with Indian lawmakers, especially since they have no decision making authority,the letter from Gadde said. This comes at a timewhen there are growing concerns about safeguarding citizens’data privacy and election interference through social media platforms. Twitter’s conduct is being watched globally and their response is being seen with concern as India’s parliamentary hearing is amongst the fourthintheworldaftertheUS Congress, Singapore and EU hearings. Meanwhile, the BJP on SaturdaywarnedTwitterof“repercussions”,sayingnoagencyhas the right to disrespect institutions of the country. PRESS TRUST OF INDIA New Delhi, February 9 Continued on Page 11 Continued on Page 11 UNION MINISTER ARUN Jaitley returned from the United States,where he was undergoing medical treatment,on Saturday. “Delighted to be back home,”Jaitley tweeted. Jaitley, who was finance minister before a medical procedure led to the charge being temporarily taken away from him, missed presenting the sixth and final budget of the Narendra Modi government before the general elections.In his absence, the charge of the ministrywas given to railways minister Piyush Goyal. In a tweet, Goyal said: “Delighted to welcome back respected Shri @arunjaitley ji. Verygratefultohimforhissupport,guidanceandleadership.” Jaitley, however, has been active on social media tweeting andwritingFacebookpostsand had also met reporters through a video call from New York and fieldedquestionsonthebudget. MARUTI SUZUKI INDIA is unlikely to have a diesel engineassemblylineatits new plant in Haryana, for which it is scouting for land at several locations, consideringthefallingdemandfor diesel cars. "The company has enough capacity to cater to the current diesel car demand and many senior executives at Maruti believe that demand will be met even if it increases in the future, two people aware of the development said.The prices of diesel carswillalsogoupsharplyonce BS VI norms become effective, hitting demand and, there would be no need for more capacity, one of the persons said.Dieselcarsareexpectedto be costlier in the range of `50,000to`1.5lakhoncethey become BSVI compliant. In a recent interaction with FE,RSKalsi,Marutiseniorexecutive director, marketing & sales, said the diesel market would be under pressure, particularly due to BS VI norms,as the prices will go up substantially."The customer also sees a return on investment before buyingadieselcarandafterthe Share in % of cars 70 Petrol 60 53 50 40 Diesel 47 30 2013 Source: SIAM/ICRA 61 37 2018 Demand for diesel cars falling; BS VI to make them more expensive decontrol of fuel prices, the price gap between diesel and petrolhasnarroweddowndrastically,socustomersmaynotbe able to see much value in that," he had said. Maruti didn’t respond to an email query on thesubject.Fromahighof53% in 2013,the share of diesel cars has fallen to around 37% in 2018, as per Society of Indian Automobile Manufacturers (SIAM). Besides, share of petrol cars has risen to around 60%. Continued on Page 11
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