Bizbits — Datta wins ISA award

Datta wins ISA awardMUMBAI--S M Datta, former chairman of Hindustan Lever Ltd, has been awarded the ISA Gold Medal for his outstanding cont...

Datta wins ISA award

MUMBAI–S M Datta, former chairman of Hindustan Lever Ltd, has been awarded the ISA Gold Medal for his outstanding contribution to Indian advertising. Datta is the 22nd recepient of the medal which was instituted 37 years ago by ISA to recognise publicly a contribution that is national in its impact in the field of Indian advertising. Datta is also the chairman of Indian Aluminium, Castrol India and currently on the board of Philips India, Ashok Leyland, EID Parry and Seagram.

Inflation down

New Delhi– The annual rate of inflation dropped by 0.16 percentage points to 4.04 % for the week ended September 13, after last week’s upsurge due to hike in prices of petroleum products.

The rate of inflation, based on the wholesale price index (WPI), stood at 4.04 % (provisional) compared to 4.2 % (provisional) for the previous week and 6.35 % during the corresponding week last year.

CCI for exports

MUMBAI–The Cotton Corporation of India (CCI) chairman M B Lala has said that the policy of export of raw cotton should continue as long as it provides greater incentives and support to the cotton growers and cultivators.

The corporation achieved a turnover of Rs 1310 crore during 1996-97 as against Rs 908 crore in 1995-96. It earned a record operational profit of Rs 80.10 crore as against Rs 24 crore in the previous year. The net profit was Rs 49.12 crore. He said the government’s periodic export quotas provided incentives to the farmers when domestic cotton prices slackened and industry did not give adequate support.