Cover Story
- Two decades after testing Indian waters, the Hindujas are once again in investment mode in India. They’re planning to pump at least $50 billion into a number of sectors in the next five to seven years. That's not too little, but are they too late? Brian Carvalho tells us the inside story.
From the Editor
The Hindujas have never really demonstrated their bullishness about India by actually investing here in a big way. Better late than never, say the brothers. Top 200
There is a massive churn in the lower reaches of this list.India Inc. is focussing on image building - Sourav De
The BT-Cirrus survey is in its 5th year and it is, by far, the widest in the country, with more than one million articles analysed for the minutest corporate mentions and considered. Anil Ambani’s ADAG has leapfrogged others to the #2 spot, ahead of Mukesh Ambani’s Reliance Industries. Sunil Mittal’s Bharti Airtel received the maximum front page coverage, while Tata Motors and Tata Steel, too, hogged a fair share of newsprint. The fifth BT-Cirrus survey springs a few surprises at the top of the list for 2007. Mukesh Ambani, who continued to hog headlines in financial media, tops the list of individual newsmakers. The fifth BT-Cirrus survey reveals which CEOs, companies and groups got the best press in 2007. Mukesh Ambani's Reliance Group emerges as the leading newsmaker. The BT 50 index
The BT 50 index The strong performance in developing countries will help offset the slowdown in the US, says a World Bank report. Global Inc. raised record amounts of money from the primary markets in 2007 and India Inc., too, came to the party in style. Okay, the Reliance Power IPO happened this year. But we had to include it here. “Vijay Mallya is my good friend. I do not know whether he considers me a good friend or not. It could be one-way traffic” Naresh Goyal, Founder Chairman, Jet Airways, in Mint Rs 69,159 crore: The amount Indian companies raised through private equity deals in 2007, according to Grant Thornton Lalit Modi is sitting pretty. The vice president of the Board of Control for Cricket in India (BCCI) and Chairman of its Marketing Committee has just sold the TV rights to the Indian Premier League for over $1 billion (Rs 4,000 crore). Plunging exports is creating an uproar in official circles as it is leading to massive job losses in some sectors. Then, falling exports are also hurting the country’s macro-economic stability.Funding dreams: Chandra Sekhar Ghosh
Beginning with a small set-up in Konnagar in the Hooghly district of West Bengal, Bandhan has traversed a long way over the last five years to be ranked second (after ASA, Bangladesh) in Forbes’ first-ever list of the world’s Top 50 micro-finance institutions, chosen from 641 micro credit providers across the world.GST rate should not exceed 15 per cent - Rao
The country will switch over to a Common Goods and Services Tax (GST) on April 1, 2010. M. Govinda Rao, Member of the Prime Minister’s Economic Advisory Council, and Director, National Institute of Public Finance & Policy (NIPFP), shares his insights on the hotly debated subject with Business Today’s K.R. Balasubramanyam. Excerpts: World Bank economist Andrew Burns, the lead author, and Hans Timmer, his coauthor, in their 200-page report, argue that it is the resilience in developing economies that is cushioning the current slowdown in the US. Winds of change are sweeping across placements at engineering colleges across the country. Bangalore-based Puravankara Projects has won a bid to develop 6.5 million sq. ft of luxury retail, residential, commercial and hospitality complexes at Hi-tech City, Hyderabad In January, three major PSUs, UTI Asset Management Company, Bharat Sanchar Nigam (BSNL) and State Bank of India (SBI) announced their intent of mobilising funds from the country’s white hot primary market. Airlines and analysts claim that with consolidation in the Indian market, low costs and low fares have dried up. RBI’S tight monetary policy may have reined in inflation, it was at 3.79 per cent for the week ended January 5, 2008—but the government is worried that it may rear its head again."We'll now be more aggressive in India"
Ivan Kam, Director, Fujitsu PC Asia Pacific, was recently in Mumbai for the launch of its new laptop computer range. He met BT’s Deepti Khanna Bose to discuss his company’s plans for the country. The fortnight’s burning question. Will the US slowdown significantly affect India’s growth prospects this year? The promised tax cuts may not materialise in Budget 2008-09. We cannot sit in the US and make decisions for India - Charles O. Holliday Jr
CEO & Chairman of DuPont, Charles O. Holliday Jr was in India recently to address issues of his employees and customers. He spoke to BT’s Anusha Subramanian in an exclusive interview. Future perfect
It’s hard to miss the happiness in Kishore Biyani’s voice. His group company, Future Capital Holdings (FCH), has just concluded its public issue, which has been oversubscribed 133 times. A rundown on jobs that will be in demand this year. Apologies for murdering the language, but we liked the Skoda Fabia. It's early days yet, but as internet advertising surges, several small and niche digital ad agencies may be ripe for acquisition. Virtual valets
Overseas clients spur an industry in India that runs both personal and professional errands for them. The comeback brands
Vimal, Hakoba, Flying machine and Garden are among the has-been brands that are resurrecting themselves with spiffy new positioning and value propositions. He has drawn up an ambitious programme to expand his footprint in his core steel business and also diversify into the power, cement aluminium and infrastructure sectors. Is Jindal taking on too much? Anand Adhikari tells us why the steel-focussed group is getting into apparently unrelated areas. iGate has come a long way since Phaneesh Murthy took over the reins from Gerard Watzinger, a German, in July 2003. Murthy has drawn up ambitious plans for taking iGate into the big league of IT services companies. But will his gambit pay off? Rahul Sachitanand finds out. Raju Vegesna had been waiting for this day since taking over India’s leading ISP, Sify, from its cofounder R. Ramaraj in 2005. After slogging for nearly two years trying to give the ISP a makeover, Nitya Varadarajan tells us how Vegesna and his team are ready to showcase the refurbished Sify to the world. Help Tarun!
Q: I have been working with the packaging development division of an MNC for the last two years. Now, I want to further my career in finance or purchase. What should I do? A healthy trend
Blockbuster Gambit (BT, January 27, 2008) brings into focus the attempt of seven big Indian pharma companies to invest hundreds of crores of rupees into drug research. Bring back the old
If you have a lapsed insurance policy, here’s how to renew it at the minimum cost. SEBI has removed entry loads on mutual funds—that’s good news for direct investors. Market intermediaries have to get themselves certified by SEBI. This will professionalise retail distribution. The technology sector, once the star performer on the stock market, is reeling under pressure due to appreciation of the rupee. When will it bounce back? The yellow metal is booming, and this is just the right time to add this asset class to your portfolio. Index funds mimic the markets and match its performance. But are they good investments? A millennial tango
A marketing guru on why the rise of China and India will help every other economy in the world. Tread with care
This one promises to be tricky—and occasionally prickly, too. There is a renewed spirit of bonhomie in official Indian circles about China—and with good reason. Martin Julius Esslin must be chortling from beyond the grave. The famous author and literary critic coined the term, “The Theatre of the Absurd”, to describe works by several famous authors from the 1920s to the 1960s. On January 15, even as Anil Ambani’s Reliance Power IPO was getting oversubscribed within 60 seconds of it inviting bids, the stock markets were falling. Chipping in
India is critical to AMD’s long-term prosperity. Mother Dairy eyes a billion dollars by 2010. A New York hotel baron has big plans for India. Kingfisher Airlines wants to make Bangalore its hub. Media spends on the internet show the highest growth in 2007. Are Indian exports to the US safe and of good quality? India’s rich investors are seeking out new asset classes. In India’s pharmaceutical industry, battles get tricky. Delhi’s Ramada Plaza goes into dispute ahead of launch. The move may help discipline subsidies and farmers. Despite niggling distrust, India and China talk trade. India’s Jubilant Organosys gets top rating from IFC. GAIL plans to supply gas to Bangalore in four years. New GECs are striking long term deals with advertisers. IT results are a non-event for stock markets. Asset-hungry promoters prefer the West (to the East). The Ambanis revive the equity cult their father pioneered. Master brewer
John Derkach, Managing Director and Head of Costa Coffee, did not look very happy when asked about his age. What is DRM?
Digital Rights Management (DRM) is essentially a software lock on digital media files, which prevents the owner of the content from doing certain things—like playing songs or movies on different devices or copying them. Check out a new website that promises to revolutionise music downloads. A mine of dreams
In the perennial debate on development vs environment, it’s advantage development in Orissa’s bauxite-rich Kalahandi. Waiting for the wavelets
There are some great technologies available today but businesses need to choose the ones that best suit their requirements. HCL launches low-cost laptops
HCL’s entry-level MiLeap X and the high-end MiLeap Y Series laptops. The two new models, with 7-inch screens, are ultra-light and weigh less than 1 kg.IT hub to e-stamp property deals
E-stamping involves the replacement of the conventional stamp paper for property transfers. It will simplify payment of stamp duty in property transactions in Bangalore. Tale bearer
The government is planning more sops for exporters. It is now contemplating devising a mechanism to enable exporters to invoice their orders in rupees. The Finance Ministry is in favour of taxing the interest earned on external commercial borrowings (ECBs). This will make ECBs costlier and could help moderate the capital account surplus. TRAI and the Telecom Ministry are now trying to ring in number portability at the earliest. This will allow mobile users to retain their existing numbers even when they switch operators. The commerce ministry is busy trying to resolve the SEZ imbroglio in Goa. Indians don't save much
When it comes to planning for retirement, Indians, it seems, are least worried. A global study by Bharti AXA Life Insurance shows that monthly savings by Indians for retirement are quite low compared to other countries. What is Kabir Mulchandani doing these days? Well, he seems to have vanished from the face of the earth. Government issued oil bonds worth Rs 11,257 crore to IOC, HPCL and BPCL to compensate them for under-recoveries arising out of the mismatch between global crude oil prices and domestic retail prices. Health and fitness calculators
Health calculators provide key information regarding some important health factors. There is one catch-all exercise that you can do to urge your abs to take the coveted six-pack shape. An eye for luxury
Take your pick from the best new launches in jewellery, clothes, bags and much more. Come the second week of February, you can catch Els swing up close at the Delhi Golf Club, where he will be the star attraction during the Indian Masters. She isn’t just another pretty face with a great figure. This woman also knows quite a bit about healthy food and works magic in the kitchen. Nigella Lawson demolishes a lot of myths and offers radical eating, cooking and relaxing tips for the workaholic executive.Moves and shakes, Bollywood style
They are complex moves, no doubt. But once mastered, they won’t just make hitting the dance floor a more pleasurable event, but also make your body that much more fit and flexible. Boogie away with these fun moves recommended by fitness expert Shaira Bhan. Thrillers always had us hooked, whether they are based on true life or a fantasy. In this issue, we review newly released DVDs of three classic blockbusters. We got the well-known chef and restaurateur Bill Marchetti to try a shot of Kopi Luwak— the world’s most expensive coffee—and take us through the seductive charms of this rather interesting dark liquid, which is sifted out from, believe it or not, Civet excreta. This winter, look beautiful, let your hair down and make your skin glow. All you need to do is keep some of the following in mind and you can dazzle everyone this season. Get your copy of these three new books—two coffee table gems and an engrossing travelogue— which take you from the hustle and bustle of India’s capital to the land of the Rajput princes and vast sand dunes. It’s Brazil’s finest contribution to the world of spirits. And now you can get it in your city. Taste it today and you will thank us for the tip. It’s still chilly enough to fancy an evening out sipping fine wine or cocktails with friends. Drop in at either of these two great watering holes to lift your spirits after a tough week at work. The world is, indeed, your oyster. Travelling to the farthest corners of the globe is just a click of the mouse and a drive to the airport away. But sometimes, in venturing out to see the wide unknown, we ignore our backyards. Order a Sav Blanc —it can last you through a meal. Stick to one of the New World Sav Blancs. Their grassiness and crispy acidity are balanced by just the right amount of fruitiness. This makes them ideal accompaniments to a multicourse meal. Move over London, New York and Paris. With its burgeoning social, cultural and culinary life, the new guardian of hipness is Berlin. We take a look at what’s hot in this glittering city in 2008. Smart phones are no longer a new term. In fact, there are so many choices it can confuse you. We take a look at the best smart phones now on offer. S for sexy. S for stylish. S for sophisticated. S for smart. S for Stilettos. Can you carry off a scarf? Which scarf will suit you right and how should tie it? Follow these simple tips to get it right. The independent music scene is a universe in itself. Ever so often, Indie artistes come out with music that transcends cult following. This time, we feature three bands that have successfully made that switch with albums of wildly varied music. We also tell you which songs to download. Medieval forts, hidden churches and amazing food —India’s commercial capital is full of surprises. A China Town, Victorian buildings and the world’s largest ‘book street’—Kolkata is a lot of fun. History beckons in hidden alleys, natural forests are a walk away—Discover the ‘other’ Delhi. A foodie’s delight, a book lover’s paradise—the other side of Chennai is waiting to be discovered. The IT capital has some amazing temples and walks, not to mention great short trips that you can take. BT More sent its team of reporters to the five corners of the country to talk to experts as well as travel the length and breadth of the cities and beyond, to find out things that a visitor to these cities may not really know about. In car-entertainment systems were never this good. Check out what’s on offer.
