Corporates Home In On Internet, Float Pages

About 70 Indian corporates and financial institutions like the Industrial Credit and Investment Corporation of India (ICICI) and now even the RBI (which launched itself two weeks ago) now have 'home pages' on the Internet.

The Tata group of companies is set to have the largest website, when they launch their home page in November. Created by Tata Interactive Systems, the site will be hoisted by Mumbai-based Ravi Database Consultants. Bharat Petroleum Corporation and Steel Authority of India Ltd (SAIL) will also have home pages shortly, say industry sources.

Two units dominate the Internet publishing industry as on date: Ravi Database and Rediff on The Net. Ravi Database claims to have floated home pages of 60 corporates, while Rediff has just completed a similar assignment for Hindustan Lever. It is also slated to put Citibank on the web shortly.

 

Corporates have also started advertising on the net. Amul, makers of butter and cheese, advertise on India World, a Ravi Database site, and so does the telephony giant AT&T. Indian industry finds the web a cost-effective mode of promotion of products and services with single time costs being low compared to the actual spreads.

Says Rajesh Jain, managing director, Ravi Database Consultants, "To create a page on the web would cost anywhere between Rs 15,000 to Rs one lakh." The industry has adopted a modular form of pricing with graphics being single time costs and total pricing dependent on number of changes and updations. Pricing is also heavily dependent on space occupied on the net. Citibank, which is one of the first foreign banks to enter the Indian site, would be offering global services inclusive of medical and legal aid and assistance for international travel. The Indian site will be the biggest among the three sites Citibank has all over the world.

Jasmeet Singh, product manager, Rediff on the Net, explains: "Other than the cash transactions, banks will be able to process, file and retrieve almost anything at any time and would effectively reduce operational costs in the long run." Any user with an Internet ID would be in a position to access websites though the volume of traffic would determine cost-effectiveness.

According to industry sources, Hindustan Lever is using the web to screen potential candidates for postings with reduced procedural delays and time saving.

Industry-wise sites on the Internet have already made their appearance with the first site exclusively devoted to providing commercial information on the textile industry having being launched by the Tecoya group.