Mania de Latino

By Vinod Mahanta

Blame it on Ricky Martin. Ever since the boyish-looking singing sensation belted out his "Livin' la vida loca", the young are going crazy over things Latino. And moving in to cash in on the Latino mania (or mania de Latino) are liquor makers Bacardi and Santiago.

Both the brands are targetting the frequent pub-goer, who rocks hard and is drawn to the young and trendy Latino image. "In India we are experiencing a continuation of the universal fashion," says Albert Elgrissey, 50, Chairman and Managing Director, Pernord Ricard.

Promotional events called Latino Nights are being held at pubs and discotheques at all the four metropolises. A South American ambience is created at the venue, with games and freebies thrown in. Bacardi, for instance, has been concentrating on music. "The vibrancy, sensuality and youthfulness of Latin music works well with our brand," says Mahesh Madhavan, 37, General Manager (Marketing), Bacardi Martini India. Let the night be Latino.

Bad Chemistry

By E. Kumar Sharma

You don't deal with them directly, but they are an integral part of your every day life. Be it a can of paint or a new tyre for your car, modern life wouldn't be possible but for them. They are the chemical manufacturers. Yet, this critical industry is also the most embattled. The Indian Chemical Manufacturers Association (ICMA) estimates that 40 per cent of the chemical units in the small-scale sector, and 20 per cent in the medium and large-scale sectors are either inactive or operating at sub-optimal levels. "Things have gone from bad to worse," says R.M. Pandia, 50, President, ICMA.

For one, import duties are down from 180 per cent in 1991, to 35 per cent today. Then, there was a demand slump globally, even as prices of petro products--raw materials for the industry--soared. For example, naphtha cost Rs 6,000 per tonne 15 months ago, and today sells for Rs 14,000 per tonne. Poor price realisation and higher input costs are squeezing working capital. Unless the industry is able to upgrade technology--some companies operate with 50-year-old plants--and improve efficiencies, things will likely get worse.

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