Sources Of Finance For Marks And Spencers

Sources Of Finance For Marks And Spencers Marks Spencer is one of the leading retailers in UK with average 21 million customers visiting per week in stores. They provide with quality clothing, home products and food which is supplied by approximately 2000 suppliers all over the world. The company has 75,839 employees as evaluated in 2008 and has about 700 stores in UK. The 49% of the sales is occupied by clothing and home products while 51% is occupied by food products. Outside UK the company operates in approximately 40 other countries which include India, China and Indonesia etc. The companies 90% business comes from sales in UK while rest comes from overseas sales. Marks Spencer values Quality, Value, Service, Innovation and Trust. The company generated an overall revenue of  £9062.1 million as on 28th March, 2009. The overall profit was  £768.9 million of which  £652.8 million was generated from operations in UK and  £116.1 million from operations overseas. The case study takes into consideration the analysis of financial reports of Marks and Spencer and relates the academic principles of Corporate Finance with the analysis of the report. 2. SOURCES OF FINANCE 2.1 SHORT MEDIUM TERM FINANCE Trade Credit Trade Credit is finance obtained from suppliers of goods and services over the period between delivery of goods and the subsequent settlement of the account by the recipient. (Pike Neale, 2006) It is sometimes also called spontaneous finance as the company can enjoy the goods or benefit from the service provided without having to pay up. Common way of expressing the credit term is- 2/10 : net 30 This implies that the supplier will provide 2% discount if the money is payed back in 10 days otherwise the company has to pay full payment in 30 days. The length of the trade credit depends on certain factors like industry custom and practice, relative bargaining power and type of products. Factoring- Sometimes the suppliers need payment earlier than expected. Institutions called factors help by offering to purchase a firms debtors for cash. Factoring involves raising immediate cash based on the security of the companys debtors, thus accelerating payments from customers. Bank Credit Bank lending to companies is predominantly short term, although now it is also a valuable source of medium term finance. Overdrafts Overdrafts specify the amount that a company may withdraw either in forms of cash or cheques. Interest is charged on a daily basis depending on how much the company is overdrawn each day. Bank generally takes security which can be fixed charge (where overdraft is secured against specific asset) or floating charge (which offers security over all of the companys assets) Short Term Loans Short term loans are generally provided for more than 1 year. The bank can charge variable or fixed rate of interest. Usually fixed rate of interest is quite high. Variable rate of interest can be also in various forms: Bullet Loans Balloon Loans Revolvers It allows the borrowers to borrow, repay and re-borrow over the life of loan facility. Securitisation This is the practice whereby instead of lending money to customers, banks raise finance for them by arranging and selling to customers their securities like commercial papers often allowing lower interest rates. Bill Finance Bill allows the company to pay out a specific amount after a specific period of time. Bills of Exchange Trader purchasing goods from suppliers draws up a bill stating a promise to pay at some future date and its up to the supplier to keep the bill or sell it in the market at a discount if he needs the money earlier. Acceptance Credit It is a tie up between the company and the bank. The bank issues a bill for the company and company can use it at a later date. The bank can sell the bill in the market at a discounted price. If it does then the company collects the money from the company which bought the bill from the bank. Hire Purchase It may be simply defined as hiring with the option to purchase. On payments of final installment ownership of the asset passes to the customer. The inland revenues will generally permit the customer to claim and retain capital allowances provided that the option to purchase fee is less than the market value at the end of the contract term. Leasing A leasing transaction is a commercial arrangement whereby an equipment owner conveys the right to use the equipment in return for payment by equipment user of a specified rental over a pre-agreed period of time. (Pike Neale, 2006) 2.2 LONG TERM FINANCE Equity Shares are described as permanent capital because the funds supplied for their acquisitions are non-returnable in most circumstances other than in the event of a liquidation. Shares are issued at nominal value and are sold at the market price. Shareholders have a share in ownership of company and also have voting rights. Dividends are payed as a percentage return on their nominal value. A company can receive equity finance from various sources like Business Angels: Private equity investor with spare funds to invest who wishes to gamble on the future prospects of young companies. Venture Capital: Sale of equity to a specialist institution that may also provide management assistance. For e.g. 3i. Obtaining a Quotation (IPO) Preference Shares Preference shares are entitled to a fixed percentage dividend, which is paid before any profits are distributed to ordinary shareholders. Participating preference shares may be entitled to some extra dividend, over and above their fixed dividend entitlement. Convertible preference shares can be converted to ordinary shares. Cumulative preference shares have unpaid dividends that are carried forward and must be paid before dividends are paid to ordinary shareholders. Preference share holders do not qualify for tax relief. Debt Debentures Debentures are basically loan secured on company assets with floating or fixed interest rate. It is a multiple loan to the company in the sense that it is contributed by several people opposed to just one individual. Debenture holders are creditors but not members of the company. Loan Stock is a kind of debenture that is issued at face value. It is not secured on assets but effectively secured on firms earning power, thus more risky and lower ranking of payment. Debentures issued at large discounts and redeemable at par or above are known as Deep Discount Bonds. They are generally issued at low rate of interest but have cost of redemption. Mortgages It is a form of secured loan placing the title deeds of property with a lender as security for a cash loan. The interest is payable on the amount borrowed. Warrants They are rights given to investors allowing them to buy new shares in a company at a future date, at affixed given price. They are generally issued alongside unsecured debt as a bribe to potential investors. 2.3 SOURCES OF FINANCE IN MARKS SPENCER 2.3.1 Current Non-Current Liabilities Current liabilities are the one MS needs to pay within 1 year time whereas non-current liabilities are the one MS can pay any time after 1 year. As per the annual report for MS, Current Liability MS has short term loans in the form of Bank Loans and overdrafts worth  £147.9 millions. Syndicated Bank Facility worth  £781.2 million which relates to a  £1.2 bn committed bank revolving credit facility set to mature on 26 March, 2013. Finance Lease liability worth  £13.7 million. The average lease term for the equipment is 6 years and 125 years for property. Interest rates are fixed. Non-Current Liability Bank Loans worth  £11.2 million. Finance lease liabilities worth  £88.2 million. Medium-term notes worth  £ 2018.5 million. 2.3.2 Net Assets Equity Ordinary Share Capital Shares  £m Allotted, called up and fully paid ordinary shares of 25p each At start of year 1,586,478,423 396.6 Shares issued on exercise of share options 2,217,763 0.5 Share purchased in buy-back (10,901,267) (2.7) At end of year 1,577,794,919 394.4 2,217,763 ordinary shares having nominal value were allotted during the year under two schemes namely Save As You Earn (SAYE) Share Option scheme and Executive Share Option Scheme. In SAYE, the board may offer options to purchase ordinary shares in the company once in each financial year to those employees who enter into an HM Revenue Customs approved (SAYE) savings contract. In terms of Executive Share Option Scheme, the Board may offer options to purchase ordinary shares in the company to executive directors and senior managers at the market price on a date to be determined prior to the date of the offer. 10.9 million shares having a nominal value of  £2.7m were bought back and subsequently cancelled during the year in accordance with the authority granted by the share holders at the Annual General Meeting in July 2007. Share Premium Account A reserve setup to account for the issue of new shares at a price above their par value. (Pike Neale, 2006) In MS, Share Premium Account had  £ 236.2 m as on 28th March, 2009 out of which  £ 231.4 m were carried forward from previous year and  £ 4.8 m was from share issued on exercise of employee share options. Capital Redemption Reserve It is a reserve established when the firm buys its own shares in a scenario that result in loss of share capital. In MS it was worth  £ 2202.6 m. As discussed earlier  £ 2.7 m worth were purchased in buy back, thus added to the capital redemption reserve. Hedging Reserve Hedging is an attempt to minimize the risk of loss stemming from exposure to adverse foreign exchange rate movements. MS as on 28th March,2009 had  £ 62.6 m in Hedging Reserve. 2.3.3 Net Debt Cash Cash Equivalents It includes short term deposits with banks and other financial institutions, with an initial maturity of three months or less and credit card payment received within 48 hours. It was worth  £ 422.9 m for MS. Financial Assets MS has current and non-current assets worth  £ 53.1 m that includes unlisted investments and Listed UK Securities. Bank Loans Overdraft MS has current and non-current loans overdrafts that include  £ 4.0 m loan from the Hedge End Park Limited joint venture. Syndicated Bank Facility It relates to a  £ 1.2 bn committed bank revolving credit facility set to mature on 26 March 2013 and is worth  £ 781.2 m. Medium Term Notes These are notes that actually retire in 5 to 10 years. A corporate note continuously offered by a company to investors through a dealer. Investors can choose from differing maturities, ranging from nine months to 30 years. (Forbes Digital) In MS these notes are issued under MS plcs  £ 3bn European Medium Term Note Program and all pay interest annually. The medium term notes are worth  £1848.1 m. Finance Leases It is groups policy to lease certain of its properties and equipments under finance leases and is worth  £ 101.9 m. 3. COST OF CAPITAL 3.1 Weighted Average Cost of Capital 3.2 Weighted Average Cost of Capital for MS As seen earlier MS has capital in the form of debt and equity. To evaluate the Weighted Average Cost of Capital, we need to evaluate Cost of Debt ( Kd) Cost of Equity ( Ke) Weight or proportion of debt equity Cost of Debt (Kd) To evaluate Kd, we need to find I = Interest paid for the debt MV(Market Value) = Total current Market Value of the Debt T = Corporate Tax if any As Kd = [I(1-T)] / MV X 100 Looking at the Annual Report we can see in Cash flows from financing activities that : I =  £ 197.1 m which is approximately 7.9% In Taxation Charges T = 28% In net Debt MV =  £ 2490.8 m Thus we can calculate Kd by putting in the values as: Kd = [ 197.1 m(1-.28)]/ 2490.8m X 100 = (141.912/2490.8) X 100 = 4.7 Cost of Equity To evaluate Ke, we need to evaluate D = Dividend on ordinary share capital MV = Market value of equity As Ke = (D/MV) X 100 Looking at the report we can find Net dividend = 22.5 p per share The total no. of shares at the end of the year = 1,577,794,919 The total Dividend D = .225 X 1,577,794,919 =  £ 355 m approx Market Value MV= .25 X 1,557,794,919 =  £ 394.4 m Therefore Ke = (D/MV) X 100 = (355/394.4) X 100 = 90 Weighted Average Cost of Capital (WACC) Weighted Average Cost of Capital can be calculated by formula WACC = Ke[ E/(E+D) ] + Kd [ D/(E+D) ] Where E = Market Value of Companys Equity D = Market Value of Companys Debt Therefore WACC = 90[394.4/(394.4 + 2490.8)] + 4.7[2490.8/(394.4 + 2490.8)] = (90 X 0.135) + (4.7 X .86) = 12.15 + 4.902 = 17.052 % 3.3 Gearing Indicators for MS To be done Capital Gearing Capital Gearing = 4. INVESTMENT APPRAISAL TECHNIQUES An investment project is a series of cash inflows and outflows, typically starting with cash outflows (the initial investment outlay) followed by cash inflows and/or cash inflows in later periods. (Gotze, Northcott, Schuster, 2008) The financial manager needs to employ appraisal techniques in order to decide which projects to accept and which to reject because these decisions largely shapes the future of the business and its ability to manage its future operations. The project accepted must meet the financial criteria of the company, generally its a return greater than the cost of capital needed to finance it. 4.1 Return on Investment (Accounting Rate of Return) This approach expresses the profit before tax arising from an investment as a percentage of the total outlay on the investment. When using the return on investment approach the project which gives the highest ARR is the one that should be accepted. Difficulties arise with the method when the duration of the investment extends for more than one year, as it then becomes necessary to determine some representative profit and investment value for the duration of the project. Other problem is that profits are the results of receipts and outgoings and they do not represent cash transactions and the cash flow arising is not taken into account during the term of the investment. 4.2 Return on Investment (ARR) related to MS As per the annual reports of MS from year 2006 to 2009, MS has invested on property. The investment, depreciation Net Profit are described in the annual report related to property. The tax budgeted profits are assumed accordingly. Year 2006 2007 2008 2009 Investment  £ 38.5 m  £ 24.1 m  £ 24.3 m  £ 24.3 m Budgeted Profits  £ 4 m  £ 4 m  £ 32 m  £ 8 m Less Depreciation ( £ .1 m) ( £ .2 m) ( £.3 m) ( £ .5 m) Tax ( £ 9.6 m) ( £ 1.9 m) ( £ 4.7m) ( £ 1.1m) Net Profit ( £ 4.7 m)  £ 1.9 m  £ 27 m  £ 6.4 m The average profit for the four years would be: Average Profit = [ (4.7) + 1.9 + 27 + 6.4] / 4 = 29.6 / 4 =  £ 7.4 m We can compare this with the original investment made in four years: Average investment = [ 38.5 + 24.1 + 24.3 + 24.3] /4 =  £ 28.55 m By comparing, Avg Profit/ Investment= (7.4/28.55) X 100 = 24.91 % Thus the company can decide on whether the investment is good or not. 4.3 Payback This method refers to how quickly the incremental benefits that accrues to a company from an investment project payback the initial capital invested. When faced with a straight accept or reject decision it can provide a rule where projects are accepted if they payback the initial investment outlay within a certain predetermined time. In addition, the payback method can provide a rule when a comparison is required of the relative desirability of several mutually exclusive investments (Lumby, 1988). This method simply measures the time period taken until the profits generated from the investment equal the initial cost of investment. The advantage of Payback is that it focuses on risks in considering the period during which the investment remains outstanding. The drawback is that the method takes no account of cash inflows after payback, neither is there any attempt to consider reinvestment possibilities for incoming funds during the period prior to payback. 4.4 Payback related to M S With relation to MS, we again take the project of investment in property, plant equipment. We take the 2 investments made in 2008 and 2009 and compare them with assumptions made for returns in the following years. 2009 2008 Investment Outflow Year 0 ( £ 540. 8 m) ( £ 958.4 m) Cash Inflows Year 1  £ 58.3 m  £ 91.6 m Year 2  £ 142.6 m  £ 400.4 m Year 3  £ 222.4 m  £ 300.2 m Year 4  £ 100.4 m  £ 286.7 m Year 5  £ 143.7 m  £ 123.2 m Total cash Inflow  £ 667.1 m  £ 1202.1 m Now comparing the two projects of 2008 2009 we can see that payback for 2009 is 5 years and payback for project in 2008 is 4 years. Thus project that MS invested is 2008 is better in terms of investment. 4.5 Net Present Value Net Present Value is the net monetary gain (or loss) from a project, computed by discounting all present and future cash inflows and outflows related to the project. (Gotze, Northcott, Schuster, 2008) Using the NPV method, all future cash flows related to investment project are discounted back to time 0. In order to establish the cash flows arising from a project into their present values, it is necessary to establish the cash inflows and outflows arising from it, and what cost of capital should be used to evaluate such projects. In order to determine the NPV of a project, we need to list all the cashflows related to the project. The net cash flows are then discounted at the cost of capital using the formulae: Discount factor = 1/ (1+i) n where n represents the number of periods and i represents the cost of capital per period The general rule is that if NPV is positive, the project is accepted else it is rejected. 4.6 Net Present Value related to MS We assume the example that taken in the pay back technique for the year 2009 and we assume the cost of capital to be 10 %. Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.1)1 .909  £ 52.99 m 2011  £ 142.6 m 1/(1+.1)2 .826  £ 117.78 m 2012  £ 222.4 m 1/(1+.1)3 .751  £ 167.02 m 2013  £ 100.4 m 1/(1+.1)4 .683  £ 68.57 m 2014  £ 143.7 m 1/(1+.1)5 .621  £ 89.094 m  £ 126.3 m ( £ 44.35 m) As we can see above the NPV for the project is negative thus this project should be rejected. 4.7 Internal Rate of Return (IRR) Internal Rate of Return of a Project is that cost of capital which makes the net present value of a project equal to zero. If the cost of capital required to reduce the future cash flows to zero is greater than the companys cost of capital, then the project will be accepted because it gives a positive return for the business. 4.8 Internal Rate of Return related to MS In internal rate of return we need to assume cost of capital so that NPV nears 0. Thus we assume the cost of capital as 9% first. Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.09)1 .917  £ 53.46 m 2011  £ 142.6 m 1/(1+.09)2 .842  £ 120.06 m 2012  £ 222.4 m 1/(1+.09)3 .772  £ 171.69 m 2013  £ 100.4 m 1/(1+.09)4 .708  £ 71.08 m 2014  £ 143.7 m 1/(1+.09)5 .650  £ 93.40 m  £ 126.3 m ( £ 31.10 m) Now we try with cost of capital as 7 % Year Net Cash Flows Formula Disc. Factor NPV  £  £ 2009 ( £ 540.8 m) 1  £ 540.8 m 2010  £ 58.3 m 1/(1+.07)1 .935  £ 54.51 m 2011  £ 142.6 m 1/(1+.07)2 .873  £ 124.48 m 2012  £ 222.4 m 1/(1+.07)3 .816  £ 181.48 m 2013  £ 100.4 m 1/(1+.07)4 .763  £ 76.6 m 2014  £ 143.7 m 1/(1+.07)5 .713  £ 102.45 m  £ 126.3 m ( £ 1.7 m) As we can see that with cost of capital as 9% the NPV is  £ 31.10 m and with cost of capital 7% the NPV is  £ 1.7 m, thus it shows that NPV will be zero between 6 and 7 % cost of capital. As the companys cost of capital is 10 % and the cost of capital to make the NPV zero is between 6 7 %, thus this project cant be accepted as its less than the companys cost of capital.

Juvenile Justice Essay

Should teenagers accused of violent crimes be tried and sentenced as adults? Why or Why not? Adolescence and the death penalty, two words more commonly seen together as of late. With growing number of young adult being tried and sentenced as adults for violent crimes the question rises why did they commit does age matter to the jury when they are put on trial? According to Paul Thompson, author of the article, â€Å"Startling Finds on Teenage Brains†. In the article Thompson notes a massive loss of brain tissue during the teenage years. While research on brain _ tissue loss can help us to understand teens better it cannot be used to excuse their violent or homicidal behavior. But it can be used as evidence that teenagers are not yet adults and the legal system shouldn’t treat them as such However this research can not excuse teens of violent crimes, it does show that they are not yet adults and should not be treated as such (Thompson) â€Å"†¦Ã¢â‚¬ ¦. Juvenile being tried as adults are not competent enough to stand trial,† quoted from Laurence Steinberg taken from the article, â€Å"Many Kids called Unfit for adult trial,† by Greg Krikorian According to a Sacramento to Bee article written in 2003 youth are â€Å"emotionally or intellectually unable to contribute to their own defense† It may common knowledge that a toddler doesn’t understand complex situations like an adult would, but the truth is around half of the kids in the age range of 14 to 15 don’t either. A study show that when compared with young adults children ages eleven to thirteen were more than three times are likely to be found â€Å"Seriously impaired† in understanding the judicial process and aiding their own defense. But so we as teenage s know right from wrong? As teen we are prone to do things that are frowned upon by adults. We are in the stages of life when we are most susceptible to peer _ pressure. And when more adults were faced with this question of whether or not adolescents should be tried as adults they said they didn’t fell that they had the â€Å"POWER† or right to judge whether someone should die or not. Kent scheidegger legal director of the conservative criminal justice legal foundation said that vast majority of teenagers even young ones know enough to be tried in adult court â€Å" The notion that teenagers are not capable of understanding what is going on I find not credible in the case of â€Å"mentally normal teenagers.† 1. What was most difficulty about this assignment? The most difficult was to truth what the study that the article gave you. 2. What was easiest Easiest about the assignment was the thesis statement 3. What I learn on completing this assignment was that there a lot or evidence and study that people when through to see if teenage and be trial as adults and what the brains tissue in a teenage body. 4. The strengths of my argument were the evidence that I use in the article and quote on what other people say about the argument. 5. My weaknesses in my argument would be the end of the essay. 6. What I learn for this assignment that they a lot of teenage that do stupid things and the crimes that they do and why do they do. This whole assignment was should you trial teenage as adults.

Intitle : Commentary Essay Samples Issue Ideas

Intitle : Commentary Essay Samples Issue Ideas Using Intitle : Commentary Essay Samples Issue The cost of an essay depends upon the quantity of effort the writer has to exert. Let's take a quick glance at them. Today's lesson might be a bit dull, but it's crucial for future work. You may trust us to offer expert assistance for many of your academic writing needs. Supporting details have to be presented accurately also. Qualities of a fantastic persuasive essay topic The topic needs to be specific. Begin with general subjects that you are conversant with then narrow down to a certain topic. Weave in your perspective to produce your essay unique. Sample persuasive essays can also offer inspiration on topics to write on in addition to serve as examples about how to compose your essay. A persuasive essay should be able to grab the interest of the folks reading it easily. The finest persuasive short essays often concentrate on controversial problems. If you aren't healthy, you won't get to relish life. The success of the entire essay directly depends upon how good you present the supporting facts. Money satisfies the bodily needs of the individual, but people want to see that happiness isn't physical. In order to remain grounded to their own morality, individuals rely on their faith to direct them. The Basics of Intitle : Commentary Essay Samples Issue Totally free Commentary essay samples are offered on FreeEssayHelp with no payment or registration. As any guide on how best to compose a persuasive essay will inform you, your essay has to be organized in paragrap hs with a logical progression from 1 paragraph to the next. If you are concerned that you won't have the ability to locate a low-cost essay writing service capable of dealing with your academic papers, we're here to prove you wrong. Just stick to the guidelines stated above, and you're going to be well on your way to writing an excellent persuasive essay. Topic sentences clearly state the aim of the paragraph. Examples might also be included in each one of the body paragraphs to additional support and clarify your primary points. The writer's intent needs to be made very obvious. A primary point is the aim of the human body paragraph. Your paragraphs do not connect one another's meaning along with the whole thought of your essay might be incomprehensible. The introductory paragraph is perhaps the most significant paragraph in the essay because it's the very first and possibly last opportunity to produce an effect on the reader. There are not any steadfast rules that you want to adhere to as you write. Do not neglect to be aware the source for each evidence you're likely to utilize in your paper. Quite simply, the structure of the paper depends a great deal on the topic and the kind of question you have to answer to. The principal component which creates a persuasive essay in English stand out from the remainder of assignments is the use of reasoning. The Foolproof Intitle : Commentary Essay Samples Issue Strategy Essay writing is normally practiced is schools. In nearly all high schools, your capab ility of writing this kind of essay is going to be evaluated in class. Therefore, you are able to also have scholarship essay writing tips that will steer you in your writing. Writing an essay is a critical role in academe life. Then you're interested in figuring out how to compose persuasive paper. There's no ideal solution on the best way to compose an effective essay. The objective of brainstorming is to help you receive ideas. Students shouldn't have to wear school uniforms since they limit students' capacity to share their individuality. As a result they try to be up to standard and to keep up with others. In general, they are asked to write assignments that take between half an hour and a whole hour. Students and teachers can buy balanced lunch and drinks aside from alcohol, that permits them to feel nice and study much better. What Intitle : Commentary Essay Samples Issue Is - and What it Is Not The essay isn't the simplest task to master. The significance of research in persuasive writing may not be overstated. Possessing great research abilities and selecting a superb topic is critical. Having evidence isn't enough. A superb writer must know more about the significance of excellent hook . Main point is the heart of the entire writing and something which you're going to convince your readers in. Clearly, you shouldn't purposely choose a topic that will bore your audience. Most academic essay topics usually ask you to choose a side in an argument or maybe to defend a specific side against criticism.

Industrial Revolution in India - 1608 Words

1566 Words Essay on Industrial Revolution in India by Dipti digg In any country, be it least developed under developed or advanced, the industrial sectors from the sheet anchor for the generation and development of country’s productive forces. There is a strong case for industrialization of countries like India which has vast manpower, large and varied resources and continental dimensions. The first plan was not as important as far as industrial development is concerned. Of the total expenditure of Rs. 1,960 crores in the plan the industrial sector received Rs. 55 crores which was 2.8 percent during the second five year plan (1956-61). Three new plants were set up in the public sector and the capacity of the two existing†¦show more content†¦(c) Maintain a sustained growth in productivity and gainful employment. (d) To attain international competitiveness government has decided to liberalize industrial licensing policy, foreign investment, foreign technology agreement, public sector policy and MRTP for the sake of realization of objectives of the policy. The new industrial policy has abolished industrial licensing. The new industrial policy has also scrapped the asset limit of MRTP companies. Industries in India Iron Steel Plants 1. Jamshedpur (Tesco Plants) Jharkhand 2. Burnpur Harapur Kulti (TISCO Plants) West Bengal 3. Vijay Nagar Plants Karnataka 4. Bhadravati Karnataka 5. Salem Tamil Nadu 6. Vishakhapatnam Plants Andhra Pradesh 7. Bhilai Steel Plant Chhattisgarh 8. Raurkela Steel Plant Orissa 9. Durgapur Plants Bengal 10. Bokaro Plants (BS), Steel Limited (BSP) Jharkhand Copper Production Plants Copper is produced at three centres: 1. Maubhandar near Ghatsila in Singhbhumi district (Jharkhand) 2. Khetri in Jhunjhunu district (Rajasthan) 3. Balaghat district of (Madhya Pradesh) Lead Zinc Smelting Plants !n India there are 5 smelting plants of Lead Zinc 1. Alwaye (Kerala) 2. Debari (Rajasthan) 3. Chanderia (Rajasthan) 4. Vishakhapatnam (Andhra Pradesh) 5.Show MoreRelatedIndustrial Revolution Essay1152 Words   |  5 PagesBritain’s Industrial Revolution.  Jane Burbank and Frederick Cooper emphasize the importance of slavery for the development of the Industrial revolution and capitalism. However, as  James Carter, Richard Warren, and Robert Marks demonstrate, global trade and new technology were just as important factors as slavery  because  they increased both the efficiency of production and demand for British-made goods. Carter and Warren classically connect the idea of capitalism to the Industrial revolution becauseRead MoreThe Relationship between the British Empire and the British Industrial Revolution in the 18th Century.773 Words   |  3 PagesDuring the 18th century, a great change occurred in Britain. 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After that he started building upRead MoreThe Economic System Of Capitalism1639 Words   |  7 PagesThe Industrial Revolution in Western Europe provided the context for economists and political writers of the nineteenth century to promote three different economic plans designed to meet the needs of workers and entrepreneurs. Capitalism was first proposed by Adam Smith as a reform plan for the existing economic system of mercantilism. The major tenets of capitalism included: free enterprise, competition at every level, and private property. Although there were many advantages including new inventionsRead MoreImperialism Is The Conception Or Preservation Of An Unequal Economic, Cultural, And Territorial Relationship1000 Words   |  4 Pagesimperialist power (HistoryHaven.com). -These nations wanted to expand for the fact that they would gain more power, and ultimately, more wealth and better living. -India was another country that had experienced imperialism. 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Since the nation-states that we know of today did not form in Europe until muchRead MoreImpact of Green Revolution on India1144 Words   |  5 PagesThe Impact of Green Revolution on India Introduction In the backdrop of the food crisis that gripped India in the 1960s and 1970s, the Government of India initiated the ‘Green Revolution’ program. Economist Alok Ghosh defines the ‘Green Revolution as a revolution both in the quantum of agricultural input and output. It was an attempt to become self-sufficient in production of food grains. The Government made a package deal consisting of high yielding varieties of seeds, water management, pest control