Cover Story
- If you’re preparing to go up-country in search of open spaces, here are a few pointers you could keep in mind.
- The picture isn’t totally dismal. A handful of promoters has been successful in acquiring land, largely by keeping the local population’s needs in mind.
- The documents and debate on rehabilitation and resettlement (R&R) abound. Yet none—companies, governments, farmers/landowners— know the right course. Here are the reasons:
- A businessman wants to start—or expand— his business. He requires land, just as he needs capital and human resources. The businessman zeroes in on a location. He buys the land from the existing owners and starts his business.
- Delays in production will upset Tata Motors’ plans to earn money out of the low-cost car.
- What is it about Singur that made the Tatas want it so badly? Here’s a BT guide to the region, its land, its politics, its inhabitants, and their gripes.
- The Tatas aren’t the only one. Reliance, ArcelorMittal, Vedanta, POSCO... some of India’s, and the world’s, biggest companies are grappling with problems in land acquisition. Suman Layak and Kushan Mitra report.
From the Editor
Business Today discovered through one week of extensive reporting and research that investments worth over Rs 2.5 lakh crore are on hold because of the R&R (rehabilitation and resettlement) roadblock. At stake are not just some big-ticket investments, but also jobs and incomes of millions. This roadblock can deepen the impact of the slowdown that the economy has already slipped into. Vinegar and vanity
The Billionaire’s Vinegar is a cautionary tale for all those who have the money to throw away on wine they wouldn’t ever be able to drink. You thought radio was an outdated format? We take a look at two of modern radio’s best rock ‘n’ roll shows and tell you where to hear them. Take your pick from the hottest new launches in jewellery, apparel, gizmos and much more. Stay fresh and fragrant with these cool deo sprays that promise to stay with you all day long. You want great food without the stiffness, a place you can hang out and relax? There are two great new options in Delhi and Mumbai. Box office Home Theatres in a Box, or HTIBs as they are called, are not necessarily the best home sound systems. But they certainly are the easiest to set up. We try two new systems from LG and Sony. The Audi Q5 is great in cities and on highways, but don’t go off-road with it. Women’s style is the index with which we judge trends in fashion.With fashions changing all the time, how do you dress stylishly without being a slave to fashion? Check out these six looks. A young shooter literally fires the hearts and minds of a nation with his performance at the Beijing Games. And at the same time, halfway across the world in Michigan, a not-as-young man accomplishes what no other Indian golfer has done before. Both men happen to be Chandigarh-ites. Master chef hemant oberoi has been producing indian cuisine with a twist for years. at varq, he takes it up a notch. kushan mitra experiences the magic. Movies set in India are nothing new. Nor are movies that chart a spiritual quest. But the best of both genres requires a distinctive vision to succeed. We look at two movies just out on DVD, which do exactly that. Ankit Negandhi, winner of the 2008 ‘Smartest Bartender of the World’ award at the Bacardi Martini Grand Prix in Rome, tells us a few tricks about mixing a mean cocktail, getting the home bar in order and setting the mood for the evening when hosting a high-profile do at home. This 31-year-old needs little by way of an introduction. One of the very few truly express bowlers in modern cricket, he often touches 160 kmph.Up close with the gaja heiress
Gaia Gaja, the beautiful daughter of Angelo Gaja and the fifth-generation owner of 250 acres of family winery, tells us about two spirits close to her heart—the Gaia & Rey Sauvignon Blanc, named after her and her grandmother and the grappa, Italy’s best-known liqueur, which can warm you up even on an icy cold evening. A beautiful woman, an exiled beauty. A jet-setting call girl and a stunning baroness. Get these two new books, now on the shelves and have a laughter-filled read. Hasn’t stopped travelling since his stint in nato 20 years ago. kushan mitra pinned him down for dinner at delhi’s popular smokehouse grill. The adventure tourism industry is booming for the new executive class in India. To find out why, BT More puts on its helmet and knee pads and heads out into the wild. After a bumpy ride, A.D. Singh is on the verge of expanding his restaurant portfolio. But he’s not taking the easy route. Let the trade flow
The recent India-ASEAN FTA, to be signed at the 2008 Bangkok India-ASEAN Summit in December, could open the fl oodgates for bilateral trade.Peer jury for news broadcasters
The News Broadcasters Association (NBA), an association of private news and current affairs broadcasters in India, has announced the constitution of a “News Broadcasting Standards (Disputes Redressal) Authority” to enforce NBA’s Code of Ethics & Broadcasting Standards. Industrialist K.K. Birla passes away. The eldest son of the legendary Ghanshyam Das Birla leaves behind a legacy of Rs 9,000-crore conglomerate comprising sugar, fertiliser, textiles, engineering, shipping, IT and media companies. “The greatest management barrier in India is simply that most managers don’t know what is possible. Indian managers could change the standard of living of the whole country if they only understood the basic lean principles”James P. Womack, Founder-Chairman of Lean Enterprise Institute, a non-profit educational and research organisation, in Business Standard Promotesr still own more than 50 per cent of India's most valuable companies, but the holdings of FIIs and MFs, considered the most proactive of shareholders, are seeing a churn. Banks and financial institutions are buying while prices are down. $286 billion: India’s current foreign exchange reserves, which are much above optimal levels. Forex accumulation has reduced external vulnerabilities and decreased the risk of financial contagion, according to a recent IMF study Mandarins in the economic ministries are keeping their fingers crossed and hoping that oil prices don’t harden again. Besides reining in inflation, they point out, there will be more good news for the government. The boom in the telecom industry has been driven, of late, by growing demand from rural India. But this has significantly squeezed ARPUs (average revenue per user), though telecos expect huge revenue gains after the rollout of 3G services. West Bengal Chief Minister Buddhadeb Bhattacharya’s comment that he would, in future, oppose strikes and bandhs, because they “do not help the country or the people” has led to his public censure by the CPI(M) politburo. Notwithstanding the moderation in growth of the Indian economy, the foreign direct investment (FDI) boom is continuing.Telcos should tap solar power Mantyniemi
Juha-Erkki Mantyniemi, Head (Environmental Management), Nokia Siemens Networks, spoke to Business Today’s T.V. Mahalingam on why Indian telecom service providers should look at sustainable energy resources to power their networks. The fortnight’s burning question. Will the proposed differential pricing of diesel lead to diversion of fuel and encourage black marketing?Foreign assignment? It's a pain
Postings abraod have long been coveted by Indians. But a study by global HR consulatncy firm Mercer shows that Indian MNCs need to address several policy issues fast, failing which such jobs may well come to be considered punishments postings. Dynastic combat
The battle for control of Zandu is good for small shareholders. Molecular Connections aims to lower drug development costs. Its expertise lies primarily in the asthma, cardiovascular and diabetes segments. How much should domestic flyers pay for using new airports? Rupert Murdoch’s Asian Broadcasting FZLLC, a holding company for STAR Group and 26 per cent shareholder in Balaji, announced that it wanted out of the joint venture. Murdoch’s split with Balaji may be good for the serial maker. TCS will will play its part to help state-owned entities like National Thermal Power Corporation (NTPC), Bharat Heavy Electricals (BHEL) and Power Grid Corporation upgrade their systems and meet their goals for the 11th Plan period (2007-2012). The Rural Marketing Agencies Association of India study seeks to estimate the number of retail outlets in rural India by listing them in 609 villages of differing populations (2,000+, 4,000+, 5,000+, etc.) across 67 socio-cultural zones in 203 districts, which account for a third of all districts in the country. The Indian investing community and the corporate sector have now got a new financial product— currency futures. It will allow investors to hedge risk. There is a discernible slump In the primary market. The volatility and range-bound trading in the secondary market has badly hit sentiment in the IPO market as well. RRB Energy is gearing up to take on Suzlon. Today, it is doing everything it can to catch up—not only in size but also in terms of public mindshare and recall. Delhi’s Indira Gandhi International (IGI) Airport is well on its way to becoming truly world class. It can already boast of having Asia’s longest runway. The Insurance Regulatory Development Authority (IRDA) has changed the rules of the game for insurance companies by amending investment regulations. IRDA’s new investment guidelines are likely to hit LIC. Cabinet nod for IPTV norms should result in action hotting up. Sun pharma’s hostile bid to take over Israeli drug major Taro Pharma received a fillip last fortnight. An Israeli court ruled in favour of Sun and against the motion of Taro to conduct a special tender offer. Fulcrum’s focus on hedge funds could cut both ways. Besides the tempestuous hedge fund market, Fulcrum will also focus on fund of funds and private equity companies. The Insurance Regulatory & Development Authority (IRDA) decided to delink the general insurance commission structure from the paidup capital of the company taking the cover. With over Rs 8,000 crore in cash, India’s best-known IT company, Infosys, finally bit the big acquisition bullet when it announced its plans to acquire London-based Axon Group. Infosys’ acquisition of Axon could pay off in the long run. Look east, at last
India’s foreign policy—which has mostly been a litany of floundering initiatives as a result of putting all its eggs in one basket—finally managed to bag itself some brownie points following the successful conclusion of the ASEAN-India Free Trade Agreement. Over the past six-odd years, India Inc. has been firmly on the growth path—riding a domestic consumption boom, expanding businesses furiously, organically and inorganically, in India and across the globe. The CPI(M) politburo recently censured West Bengal Chief Buddhadeb Bhattacharjee for speaking out openly against the culture of bandhs and strikes that has paralysed economic life in that state. Numero uno
Best cities for business (BT Cover, September 7) gave a 360-degree perspective on the business climate prevailing in the leading cities of India. The ranking of various cities according to their business quotient made sense and was spot on. Deconstructing innovation
The Game-Changer is an inspirational and practical guide for internalising success. Medha Patkar Charter
Every large project must be subjected to a holistic appraisal. The people likely to be affected must be allowed to examine all aspects of the project, including the “public purpose”, and also the possibilities of achieving the same objectives through non-displacing or less displacing alternatives. Such “social appraisals” must be made legally binding: Medha Patkar Deal watch
Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in August 2008. Akshay Kumar
Is Akshay Kumar the new king of Bollywood? Die hard Shah Rukh Khan fans may cringe at the suggestion, but it’s not as blasphemous as it sounds. FDI policy under scrutiny
Moves are afoot by the government to hike the cap on Foreign Direct Investment (FDI) in cable and direct-to-home (DTH) telecast services to 74 per cent. Right now, the policy restricts foreign holdings in these segments to 49 per cent. The government is pushing ahead with pension reforms. It’s latest initiative is an attempt to further open up the sector. It has now proposed that the New Pension Scheme (NPS) should be extended to all individuals. Uttar Pradesh Chief Minister Mayawati may be heading for a fresh confrontation with the UPA government at the Centre. A few months ago, the Union Cabinet had given an in-principle clearance to the state’s proposed Taj International Airport plan near Greater Noida. Digital beats analog
It is an ultra high-resolution high-definition (HD) digital camera. But, aren’t analog cameras still the best? The Red One generates fives times as much data per frame as rival HD cameras. reQall is a memory aid application developed by QTech, a Hyderabad-based company. reQall captures speech and converts it into to-do lists and diary entries on a mobile phone. Five reasons why you should eat more vegetables
We know that vegetables are beneficial for our body, but we still find excuses to avoid them. But remember, eating vegetables makes you healthy.Fitness rules you must break today!
Have a look at common gym beliefs, and how breaking the rules can actually help you achieve your fitness goals more quickly. Are the dark clouds for the real?
The buzzword at the country’s second-largest bank, which became famous for its scorching growth rates, is ‘measured growth’, a euphemism for losing steam. Here’s what prompted ICICI Bank’s strategic shift. Anand Adhikari reports. As a raft of general entertainment channels hits TV, the scramble for eyeballs gets even more frantic. That’s throwing up some surprising winners and losers. Shamni Pande reports. Anil Ambani eyes big pie in the DTH spaceTinseltown in your living roomThe gravy train just slowed down
As valuations take a beating, a number of companies, big and small, are being forced to tweak their fund-raising plans.Why Ramesh Chauhan is high on water
Ramesh J. Chauhan, Chairman, Bisleri International, claims to have 60 per cent of the Rs 2,000-crore market for bottled water, and his brand is valued at Rs 3,000 crore. He is now thirsting for more, writes A. Subramanian. Truck market's distant No.2, Ashok Leyland is aiming for a larger share not just in India but also abroad. Problem: there are newer global rivals and tougher market conditions to negotiate. R. Seshasayee, MD, says that speed is the essence and all employees have been made to realise its importance. N.Madhavan reports.42%, 28% or 6%...How many Indians are really poor?
Estimates of the number of poor living in India vary so widely that they raise a very fundamental question — who is the real poor? It’s not just in aviation or automobiles that businessmen are seeking out low-cost solutions. From housing to gyms, from entertainment to banking, a clutch of canny entrepreneurs is seeing big opportunity at the lower rungs of the proverbial pyramid. T.V. Mahalingam reports. Sustainability in an uncertain world
A Business Today-DuPont round table on sustainability drives home the point that responsible growth is also more profitable growth. A report. For businesses, just successfully selling their products isn’t enough; even more critical is sustaining a wholesome customer experience. Foot tied and dance bar(red)
Bangalore’s image as India’s pub capital has taken a pounding, with confusing local laws and overzealous law enforcement acting as party poopers. And for the moment, it looks like Bangaloreans will have to mothball their dancing shoes. A report by BT's Rahul Sachitanand. Integrity can take you places as India Inc. lowers its tolerance on ‘unethical’ behaviour by employees. Travelling? Get insured
The holiday season is approaching, and it’s time to dig out the insurance packages that will keep you safe on your vacation.The best dividend yield stocks
In a comatose market, smart investors are scurrying for regular returns. Invest in only those companies that are in a position to sustain their dividend payouts over the coming years. With the stock markets meandering sideways, investors are turning to balanced funds. Agri-commodities can be a hedge against inflation in any portfolio. But at current high prices, should you invest in them? The top performers category-wise. IT stocks are rebounding due to a weaker rupee, but choose your stocks carefully. A new health plan offers a quick and easy cover tailored for you. The policy covers day care expenses for 130 ailments. Besides, the insured have cashless access to 2,500 empanelled hospitals. If you are looking to participate in the stock market but don’t want its downside risk, then you should consider equity-linked fixed maturity plans (FMPs). The power of 'play'
Theatre is not just about power-packed performances; it is turning into a powerful medium to create a premium aura around brands and more importantly, capture leads for business conversions. Banks are courting high net worth customers through the creative medium. Saumya Bhattacharya reports. CEOs must have the ability to influence across borders:Grumbar
Corporations today are running thin on patience with CEOs. They’re booting them out for non-performance, often without the courtesy of a golden parachute, says John Grumbar, Executive Chairman, Egon Zehnder International, the largest non-US-based executive search firm with revenues of SF 700 million (Rs 2,730 crore). Governor courageous
Yaga Venugopal Reddy has always kept his cool despite an action-packed five years at Mint Street that saw humungous levels of dollar inflows, an unusual rise of the rupee against the greenback, soaring inflation and also overflowing consumer credit in the economy. The infra stop
While it is everybody’s case that big, bold infrastructure creation is an imperative for the India of our dreams, the action on the ground continues to stop short of the mammoth requirements of a nation aspiring to grow in double digits. A new look at old problems, and some fresh solutions. Infrastructure majors like Larsen & Toubro and HCC have been at the forefront of evolving into leaders in the build-operate-transfer (BOT) space. But they aren’t the only ones that have shifted gears from engineering and construction. A spate of new, emerging opportunities is enticing private sector players into infrastructure investments. People who matter
Starring JP Morgan’s Kalpana Morparia; ABB’s Ravi Uppal; Santanu K. Baruah of the US Economic Development Administration; Indra Nooyi, CEO, PepsiCo; liquor baron Lord Karan Billimoria; and Bear Stearns’ former MD Nikhil Puri. Who needs a standalone navigation device?
After using the Nokia 6210 Navigator for a few days, we wonder why you would want a standalone navigation tool. Maybe, they have bigger touchscreen interfaces, but you can’t officially buy the really good standalone navigation systems from manufacturers like Garmin or TomTom.Microsoft makes a better browser
The IE8 makes browsing safer and easier than before. . In an interesting aside, the browser has something called “InPrivate”, which keeps your browsing history secret.
