ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Preference for Home Market

Preference for 'Home' Market Hansavivek SHALIMAR PAINTS has been given a letter of intent' for setting up a new factory in South India on the condition that it will export paints of the value of Rs 36 lakhs per annum. It has since also received the industrial licence, but "in view of the present unsettled international economic conditions and also the continuing inflationary pressure", the directors now consider that it is not prudent to set up a new factory with the burden of this condition. The company has gone on to make a representation to government that this condition of export be deleted, and is awaiting a decision on this. The 73-year-old company which is a subsidiary of the internationally known Courtalds, has had a poor export performance. Out of total sales of Rs 937 lakhs in 1974, its export of goods

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