N.R.

Narayanamurthy- INFOSYS
N.R. Narayana Murthy, the founder of Infosys Technologies is one of the most famous personalities in India's I-T sector. Born on August 20, 1946, he obtained a degree in electrical engineering from the National Institute of Engineering under University of Mysore in 1967 and went on to do his Masters from IIT Kanpur in 1969. He joined Patni Computer Systems in Pune. While at Pune, he met his wife Sudha Murty In 1981, he founded Infosys alongwith with six otherpeople. He served as president of the National Association of Software and Service Companies, India from 1992 to 1994. Murthy was the CEO of Infosys for twenty years, and was succeeded by Nandan Nilekani in March 2002. He functioned as the Executive Chairman of the Board and Chief Mentor from 2002 to 2006. He is on the governing bodies of many leading institutes like the International Institute of Information Technology - Bangalore, and the Indian Institute of Management, Ahmedabad. He is a member of the Advisory Boards and Councils of various well-known institutions like the Stanford Graduate School of Business, the Corporate Governance initiative at the Harvard Business School, Yale University and the University of Tokyo's President's Council. Besides, he has served on the Central Board of the Reserve Bank of India, as a member of the Prime Minister's council on trade and industry, as a member of the Asia Advisory Board of British Telecommunications and was the Chairman of the committee on Corporate Governance appointed by the Securities and Exchange Board of India (SEBI) in 2003. Narayanamurthy has won several accolades in India and abroad. In 2000, he was awarded the Padma Shri and was voted the World Entrepreneur of the Year - 2003 by Ernst & Young. In 2001, his name was included by TIME / CNN in the list of twenty-five, most influential global executives. He was ranked by the Economist as the 8th among the top 15 most admired global leaders in 2005. Though he retired on 20th August, 2006, he continues to be the Non-Executive Chairman.

Ratan Tata- TATAS

One of the most well-known and respected industrialists in India, Ratan Tata, is the Chairman of the Tata Group. Born on December 28, 1937, in Mumbai, he suffered as a child because his parents separated when he was very young. He was brought up by his grandmother Lady Navajbai and did his schooling in Mumbai. He graduated with a degree in Architecture and Structural Engineering from Cornell University and joined his family business. He was sent to Jamshedpur to work at Tata Steel. He was appointed the Director-in-Charge of The National Radio & Electronics Company Limited (Nelco) in 1971 and was successful in turning Nelco around. In 1981, he became the Chairman of Tata Industries and was instrumental in ushering in a wide array of reforms. It was under his stewardship that Tata Consultancy Services went public and Tata Motors was listed in the New York Stock Exchange. He was awarded the Padma Bhushan by the Government of India in January 2000. He serves on the boards of several leading organizations, both in the public as well as the private sector in India. He is a member of the International Investment Council set up by the President of South Africa and serves on the programme board of the Bill & Melinda Gates Foundation's India AIDS initiative. He is credited with leading the Tatas' successful bid for Corus- an Anglo-Dutch steel and aluminum producer, which was acquired by Tata Sons for an estimated 6.7 billion in January 2007.

Prannoy Roy- NDTV

Prannoy Roy is credited with single-handedly changing the face of the Indian television. Born on October 15, 1949, he is the founder and president of New Delhi Television (NDTV). He completed his schooling from The Doon School before going to the United Kingdom from where he graduated in economics in 1973. After completing his Ph.D from the Delhi School of Economics, he worked as Chartered Accountant before moving over to television. He hit the headlines with the programme The World This Week. Besides, he has worked for STAR TV. He is responsible for turning NDTV into a full-fledged channel and his well known for his coverage of Indian elections with sharp insights and analysis. He was associated with the Ministry of Finance, Government of India as Economic Advisor from 1985-1987. He has been associated with the small screen since 1980 and is one of the most prominent anchorpersons in India. He has won many awards including the B. D. Goenka Award for excellence in Journalism in 1994 and 1995, Ernst & Young - Entrepreneur of the year award (Media), the Screen Videocon Award for Lifetime Achievement in 1998 and the Limca Book of Records -Person of the Year award in 1998.

Sunil Mittal- AIRTEL

One of the main faces behind the cellular revolution in India, Sunil Bharti Mittal is the chairman and managing director of the Bharti group, which owns India's largest GSM-based mobile phone service. Born on June 15, 2

1950 in Ludhiana, Punjab, he graduated from the Punjab University and set up a small bicycle business in Ludhiana, not wanting to follow the footsteps of his father who was an M.P. In 1979, he moved to Mumbai and started selling portable generators imported from Japan. Business was good initially, but it ran into rough weather when the government banned the import of generators as two Indian companies were awarded licenses to manufacture them in India. The year 1986 saw Sunil Bharti Mittal founding the Bharti Telecom Limited (BTL) which started manufacturing electronic pushbutton phones. His lucky break came in 1992, when the government began issuing licenses for mobile phone services for the first time. Sunil Mittal bagged the licence for the Delhi cellular circle. In 1995, he founded the Bharti Cellular Limited (BCL) and the brand Airtel was launched. The rest as they say is history. He has won a number of awards including the Asian Businessman of the Year by the Fortune Magazine in 2006, the Business Leader Of The Year by the Economic Times in 2005 and the Ernst & Young Entrepreneur Of The Year in 2004. He is one of richest Indians across the world. The Bharti group in 2006 forged a deal with the US retail giant Wal-Mart to start a number of retail stores across India.

Azim Premji- WIPRO

The software czar of India Azim Premji is the Chairman of Wipro Technologies, one of the largest software companies in India. One of the richest Indians worldwide, Premji was born on July 24, 1945. When he was studying Electrical Engineering at Stanford University in the United States, he had to rush back and take over the mantle of the family's business on the sudden demise of his father. In those days, Wipro dealt with hydrogenated cooking fats, bakery fats, toiletries, hair care soaps, baby toiletries etc. Under Premji, the company shifted from soaps to software. Under his stewardship, WIPRO has grown from a US$ 2 million hydrogenated cooking fat company to a US $1.76 billion IT- giant. Ranked among the top 100 Technology companies globally, Wipro is also the largest BPO services provider based in India. Premji was named as the Business Man of the Year 2000 by Business India and the Business Leader of the Year 2004 by the Economic Times. The TIME magazine listed him in 2004 as one of the 100 most influential people worldwide. In 2003, the Fortune magazine named him as one of the 25 most powerful business leaders outside the US. He was awarded honorary doctorates by many renowned institutions like the Indian Institute of Technology, Roorkee and the Manipal Academy of Higher Education, besides serving on the Prime Minister's Committee for Trade and Industry in India. He founded the Azim Premji foundation in 2001, a not-for-profit organization to help the poor and the downtrodden. He received the Padma Bhushan award from the Union Government in 2005.

Lakshmi Nivas Mittal- MITTAL & ARCELOR STEEL

Lakshmi Nivas Mittal was born on June 15, 1950 in Sadulpur, Rajasthan, India and is presently the CEO & Chairman of Arcelor Mittal. Lakshmi Nivas Mittal was listed in the Forbes List of Billionaires in 2006 as the the richest Indian and the fifth richest man in the world with an estimated wealth around of $25.0 billion and is the richest man in the United Kingdom. Young Lakshmi Nivas Mittal spent his first years in Sadulpur, before his father moved to Kolkata. Lakshmi graduated from St. Xavier's College, Calcutta. He founded Mittal Steel in 1976, which soon became a global steel producer with operations on 14 countries. His success mantra lies in the identification, acquisition and turnaround of many loss making steel companies all across the world. In 1994, he took over the international operations of his family's steel business. Arcelor Mittal is presently the world's largest producer of low and mid-grade steels, with operations in Romania, Bosnia-Herzegovina, South Africa, Poland, Czech Republic, Indonesia, Kazakhstan and many other countries. Mittal is considered to be close to the British Prime Minister Tony Blair and has donated large sums of money to the Labour party coffers. He bought his residence at 18-19 Kensington Palace Gardens from Formula One car racing boss Bernie Ecclestone in 2004 for 57.1 million ($105.7 million), the highest-ever price paid for a house. His son Aditya is the CFO(Chief Financial Officer) of Arcelor Mittal. Mr. Mittal has been nominated as a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum's International Business Council, besides being a Director of ICICI Bank Limited and being on the Advisory Board of the Kellogg School of Management in the United States.

Indra Nooyi- PEPSI &CO

Indra Nooyi is the president and chief executive officer of PepsiCo and is the highest-ranking Indian-born woman in corporate America. She helped to start PepsiCo's fast-food chains in 1997. After a Bachelor's degree from Madras Christian College and a Post Graduate Diploma in Management from the Indian Institute of Management, Kolkata, she moved on to the Yale School of Management. She started her career with The Boston Consulting Group (BCG), moving on to companies like Motorola and Asea Brown Boveri.She serves on the board of directors of several organizations. In August 2006, she succeeded Steve Reinemund as chief executive officer of PepsiCo. She has been named the Most Powerful Woman in Business in 2006 by Fortune Magazine. Her name was included in the Wall Street Journal's list of 50 women to watch in 2005.

Dhirubhai Ambani- RELIANCE

Dhirajlal Hirachand Ambani was born on 28 December 1932, at Chorwad, Junagadh in Gujarat, When he was 16 years old, he moved to Aden,Yemen. Initially, Dhirubhai worked as a dispatch clerk with A. Besse & Co. Married to Kokilaben. Dhirubhai also worked in Dubai for sometime. He returned to India and founded the Reliance Commercial Corporation with an initial capital of Rs 15000. Dhirubhai set up the business in partnership with Champaklal Damani from whom he parted ways in 1965. Dhirubhai started his first textile mill at Naroda, near Ahmedabad in 1966 and started the brand "Vimal". Dhirubhai Ambani is credited with having started the equity cult in India. With the passage of time, Dhirubhai diversified into petrochemicals and sectors like telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics. Dhirubhai courted controversy all throughout his life. Many a times, he has been accused of unethical business practices and has been accused of having manipulated government policies to suit his own needs. He was involved in an open spat with Nusli Wadia of Bombay Dyeing. The end to this tussle came only after Dhirubhai Ambani suffered a stroke. While Dhirubhai Ambani was recovering in San Diego, his sons Mukesh Ambani and Anil Ambani managed the affairs. The Indian Express had turned the guns against Reliance and was directly blaming the government for not doing enough to penalize Reliance Industries. The battle between Wadia - Goenka and the Ambanis took a new direction and became a national crisis. Gurumurthy and another journalist, Mulgaokar consorted with President Giani Zail Singh and ghost-wrote a hostile letter to the Prime Minister on his behalf. The Indian Express published a draft of the President's letter as a scoop, not realizing that Zail Singh had made changes to the letter before sending it to Rajiv Gandhi. Ambani had won the battle at this point. Now, while the tussle was directly between the Prime Minister Rajiv Gandhi and Ramnath Goenka, Ambani made a quiet exit. The government then raided the Express guest house in Delhi's Sunder Nagar and found the original draft with corrections in Mulgaokar's handwriting. By 1988-89, Rajiv's government retaliated with a series of prosecutions against the Indian Express. Even then, Goenka retained his iconic stature because, to many people, he seemed to be replaying his heroic defiance during the Emergency regime. Dhirubhai Ambani won many words and accolades during his life. In November 2000, he was conferred the 'Man of the Century' award by Chemtech Foundation and Chemical Engineering World for his contribution to the growth and development of the chemical industry in India. In June 1998, he was awarded the Dean's Medal by The Wharton School, University of Pennsylvania, for setting an outstanding example of leadership. Dhirubhai Ambani was also named the "Man of 20th Century" by the Federation of Indian Chambers of Commerce and Industry (FICCI). Dhirubhai Ambani suffered a "brain stroke: on June 24, 2002 and was admitted to the Breach Candy Hospital in Mumbai. He had suffered another stroke in February 1986 which had paralyzed his right hand. He passed away on July 6, 2002. On Dhirubhai Ambani's first death anniversary, the Union Government released a postage stamp in his memory.

Ghanshyam Das Birla- FOUNDER BIRLA GROUP

One of the icons of Indian industry, Ghanshyam Das Birla is remembered as the man who laid the foundation of the Birla Empire. He was a very close associate of Mahatma Gandhi and used to advise him on economic 5

matters. The founder of the Federation of Indian Chambers of Commerce and Industry (FICCI), G.D. Birla was born on April 10, 1894 in Pilani. He entered the world of business during the First World War. He established the Keshoram Cotton mills and then shifted his base to Calcutta or present-day Kolkata, where he established the Birla Jute Mills. This was not liked by the European merchants who tried out all means, fair as well as foul to have his business shut, but a resolute G.D. Birla stood his ground. His business boomed during World War I, when there was a great demand for his products. He then went ahead to establish the Birla Brothers Limited in 1919. In the postindependence period, Birla diversified into tea, textiles, cement, chemicals, rayon, steel tubes and other areas. Along with his business activities, G.D. Birla is remembered for founding several educational institutions including the Birla Institute of Technology and Sciences (BITS), Pilani, which ranks in the forefront of engineering institutions in the country. He was also instrumental in founding many temples, planetariums, and hospitals. He was awarded the Padma Vibhusan by the Government of India in 1957. The G.D. Birla award for scientific research has been established in his honour to encourage and reward scientists for their contribution to scientific research. This modern-day legend of India passed away on January 11, 1983.

J.R.D. TATA- TATAS

One of the pioneering industrialists of India, Jehangir Ratanji Dadabhoy(J.R.D Tata ) was born in Paris on July 29, 1904. He became the chairman of the Tata Group in 1938. He saw the assets of the Tata Group climbing from Rs 62 crore (Rs 620 million) in 1939 to over Rs 10,000 crore (Rs 100 billion) in 1990. Under him, the Tata Group diversified into a large number of sectors from airlines to hotels, trucks to locomotives, soda ash, heavy chemicals to pharmaceuticals, financial services, tea, air-conditioning etc. He was not only an industrialist, but was a pioneering aviator too and brought commercial aviation to India, besides being a patron of the arts and philanthropist. He faced severe problems like foreign exchange crunch and severe government controls on big business, but all these could not deter him. He was a great leader and motivator. He encouraged entrepreneurs such as Sir Homi Mody, Russi Mody, Sumant Moolgaokar and Darbari Seth, and many others. He formed the Tata Administrative Service and the Tata Management Training Centre , the Tata Institute of Fundamental Research, and was the longest serving member of the Atomic Energy Commission. He passed away in Geneva on November 29, 1993.

Aditya Birla- A V BIRLA GROUP

Aditya Birla (1944-1995) was a renowned Indian industrialist and former Chairman of one of India's biggest multinational corporations- the Aditya Birla Group. Aditya Vikram Birla was born into the formidable business family of the Birlas, and is the grandson of the legendary G.D. Birla, who was one of India's most outstanding industrialists and founder of the vast Birla industrial empire. Besides being a successful business tycoon, he 6

also led a well-balanced family-life, along with his wife, son Kumarmangalam, the present Chairman, and a daughter. Aditya Birla completed his formal education, graduating in science from St Xavier's College, Calcutta, and then earning a degree in chemical engineering from the Massachusetts Institute of Technology, Boston. On returning back to India in 1965, Aditya entered the world of business and industry, with most of his ventures leading either to successful expansions or profitable turnovers. His maiden venture was the establishment of the Eastern Spinning Mills in Calcutta. It put the sinking rayon and textile business back on track and registered handsome profits. His next few ventures saw his success in the expansion of Hindustan Gas and the magnificent conversion of the sick Indo-Gulf Fertilisers and Chemicals Ltd, with liquidity and managerial crisis, into a booming blue-chip company. He then went on to have a series of industrial and business successes over the years, however, after his grandfather's death in 1983, he had to play a bigger role. Over the next 12 years, Aditya Birla expanded the Birla Empire making it one of India's largest business conglomerates and himself becoming one of India's foremost businessmen. His overseas joint industrial ventures in Thailand, Indonesia, the Philippines and Malaysia reaped immense gains, being the largest multinational company set up by a resident Indian industrialist. He has even held the post of director of the Central Bank of India and Air India. With its dominion spreading across India and south-east Asia, Aditya Birla's industries were involved in manufacturing of textiles, chemicals, engineering goods, fertilisers, and palm oil. Amongst his manufacturing houses in India, Hindalco (being amongst the largest low-cost producers of aluminium in the world) and Grasim (the largest producer of viscose staple fibre), shine greatly, reflecting the sheer brilliance of this industrial wizard. A thoroughbred businessman and industrialist, Aditya Birla's determination and innovative theories carved a niche for India, putting her on the world map amongst the world's largest companies. He has also been instrumental with his advice on market reform policies to the Indian Government and is well known for his inspirational speeches that not only motivated but proved effective as well. Aditya Birla passed away suddenly, aged 51, in Baltimore on 1st October, 1995, owing to prostrate cancer. For his immense contributions, he was declared as 'Business Man of the Year' in 1990. Not many know that Aditya was himself an accomplished artist, in memory of him, the Aditya Vikram Birla Kalashikar Puraskar is awarded to painters and sculptors. He would always be remembered for creating India's first global corporation

Srichand Hinduja- ASHOK LEYLAND

Srichand P. Hinduja, born as the eldest among the Hinduja brothers of the Hinduja empire is considered to be the toughest man in business. The President of Europe Hinduja and Hinduja Foundations, he has his business interests in around 50 countries of the world. Shrewd, intelligent and desperate, he is now based in UK, from where he controls the large business empire founded by his father, who has once left Sindh to move to Iran to make a luck in business. Tough and controversial, he is known to be the man whose only attempt remains doubling their financial figure every couple of years. Though all guesses, their wealth is estimated to be around 7

$8 Billion. Srichand Hinduja and his brothers are talked of being not enough educated, as their weakness in reading and writing English becomes evident in their presence. In spite of being a famous business tycoon, his personal life is ill fated as he stills struggles to combat the loss of his son. As he demands, the tragedy has made him inclined to his spiritual revelations through 'Dharma' and that slowly he is moving above the desire of earthly pleasure. NRI Srichand Hinduja moved to London to Develop their father's import and export business, along with his brother Gopichand Hinduja, which his father has started 86 years back. Now they have their money in the field of Global Finance, Tele- Communications, Film Industry and Oil Fields. Very secretive about their business strategies they are considered to be the 13th most richest people in the world. Srichand Hinduja boasts of a huge network of influential friends that includes the Shah Of Iran, George Bush Sr., Tony Blair, former U.S president Bill Clinton and Queen Elizabeth the second. Srichand Hinduja is well known for his support to the conservative and Labour party and his huge donations there. His donations for building Hindu temples and its decorations through out the world are well known. A notorious character, his contribution of 1 million pound for the ill fated Millenium Dome over river Thames, had resulted into the resignation of UK minister Peter Mandelson. More controversially, since the year 1990, Srichand Hinduja along with his brothers, have been defending himself against the biggest ever bribery scam since after independence. He is accused of taking a large amount of money from a Swiss company Bofors, and persuade the then present Indian Prime Minister, Rajiv Gandhi, to buy 400 field guns from that company. In spite of being involved in such big scams, Srichand Hinduja is well known for escaping the issues. However it might be, no one now expects him to see behind the bars. And that's what makes him a charismatic businessman ever. Ashok Hinduja- ASHOK LEYLAND Ashok Hinduja, the youngest of the Hinduja family, one of the most famous and wealthy business companies in the world, takes care of the Indian end of the family business. A man of 56, and a staunch believer in astrology, Ashok Hinduja can be rightly termed as a workaholic. He believes into the mantra that there is no shortcut to success and with the help of lucky stars, one can crack the jackpot. Ashok Hinduja handles the various philanthropic and public services in India. Apart from that taking care of the Hinduja College, the strikingly modern and decorated Hinduja hospital is also his responsibility. Ashok Hinduja is one name that takes care of the Hinduja publications in India. The company mostly famous as the Hinduja Brothers, has its own structure of working, as it operates from the whole world at the same time. He succeeded in impressing the business world , helping the Iranian government during the potato-onion crisis, that no business group has done before. AP as called d by his friends and acquaintances, he surprised everyone by associating business relationships between India and Iran. Ashok Hinduja was trained in business management while still in school. He joined his family business right after his graduation from Bombay university. In fact, among his brothers he was the youngest to join his family business. No tea, no aerated water, a strict vegetarian, Ashok Hinduja has an immense love for the Bombay film industry. His love for films passed on to his children, he has them associated with the Bombay Film 8

industry. An avid fan of Amitabh Bachchan, he is known to have financed some of his films.

Adi Godrej- GODREJ

The co-founder and the managing director of the Godrej Group of companies, Adi Godrej, was born into a business family and left India at the age of 17 to study business management. He obtained both his bachelor's and the master's degree in management from the Massachusetts Institute of Technology and came back to India to join the family business. Before Adi joined the family business, Godrej was into the manufacturing of locks and soaps. Adi made the management structure more systematic and modernized and initiated the process of improving the standards of the products. Even in the era of controlled economy, the company reached a high standard under the leadership of Adi Godrej. Today, Godrej manufactures a wide range of products spanning from household products to locks, furniture and home appliances. The name itself has become synonymous with quality and commands a lot of faith from the consumers. Adi has made the best possible use of the process of globalisation in the country. The Godrej company has several offices and manufacturing units located in over fifty countries throughout the world. Adi is also a great supporter and well wisher of the World Wildlife Fund. The company has built a huge 150 acre mangrove forests in the township of Vikhroli in Mumbai apart from building a school for the children of the employees. The company has also built a management institute at Hyderabad.

Arun Sarin- VODAFONE

The CEO(Chief Executive Officer) of the Britian-based telecom major Vodafone Group plc., Arun Sarin was born on October 21, 1954 at Panchmari, Madhya Pradesh. After doing his schooling from the military boarding school in Bangalore, Arun graduated from IIT Kharagpur in 1975. During his school and IIT days, he excelled in studies, sports and various extracurricular activities. Thereafter, he moved to the United States where he did his MS in Engineering from the University of California, Berkeley in 1977, going on to complete an MBA from the same university in 1978. The same year he started his career with a Washington, D.C.-based consulting firm. In 1981 he moved on to Natomas as a corporate development manager. He started his telecom career in 1984, when he joined the Pacific Telesis Group in San Francisco. The year 1995 saw Arun Sarin launching a new wirelesscommunications company with his mentor Sam Ginn. Arun Sarin served as the President and Chief Operating Officer of AirTouch from 1997 to 1999. The year 1999 saw AirTouch and Vodafone merging to form Vodafone-AirTouch, where he became the chief executive. Arun Sarin resigned from Vodafone-AirTouch in 2000 and became the CEO at InfoSpace, an Internet infrastructure company. He moved away from Infospace in July 2001 and started a telecommunications company called Accel-KKR Telecom. In 2003, Arun became the CEO of Vodafone. He became the CEO of Vodafone after its takeover driven expansion phase between 1999 and 2002. He has focused his energies on emerging markets like India. Under his stewardship, Vodafone successfully bid U$11.1 billion for a majority stake in the Indian mobile operator, Hutch.

B.M. Munjal- FOUNDER HERO GROUP

Brij Mohan Lall Munjal, founder of the world-famous Hero Group was born in 1924, at Kamalia in Pakistan. In 9

1944, at the age of 20, he went to Amritsar along with his brothers to earn a living. His two elder brothers Dayanand and Satyanand and younger brother Om Prakash were struggling to establish their business. Their journey began as the motor component supplier to the local market. In 1947, at the time of partition, like many others, they were forced to shift to Ludhiana which during those times was already a vital center for Indian motor cycle business. soon they started expanding their business within the country as a motor-parts distributor. From 1952 onwards, the Munjal brothers decided to be a full-time manufacturers, moving over from being mere distributors. Henceforth, they started making motor-parts like, handlebars, front forks, and chains of their own and founded the Hero Group. In 1984 Japan's largest Motorcycle manufacturers Honda, teamed up with the Hero Group. Today HEROHONDA is the largest motorcycle manufacturer of the world. B.M.Munjal, the Chairman of Hero Group is a first generation entrepreneur who started with nothing, and today his company is a leading name in the automobile industry. He won the Ernst & Young's Entrepreneur of the year award in 2001.

Amazing story of how Munjal built Hero Honda The forties were turbulent times, but in the midst of all the uncertainty, four young restless brothers in undivided Punjab were marking time for an opportunity to explode upon the Indian corporate scenario. They were the Munjal brothers: Dayanand, Satyanand, Brij and Om. This is the story of Brijmohan Lal Munjal, chairman and managing director of Hero Honda Motors Born in a rather nondescript tehsil called Kamalia in Lalpur district of undivided Punjab, the Munjal brothers always looked at life beyond their traditional business of vegetable trading. Brijmohan Lal had barely stepped out of his teens when his older brothers decided to set up their new business -- trading in bicycle components. In 1943, unconsciously preempting the inevitable partition of India and its frightening consequences, they decided to shift base from Lahore to Amritsar. Brijmohan Lal Munjal told CNBC-TV18, "There was nothing available but bicycles on the road. But there was nothing to repair them with. Some artisans in Sialkot, Amritsar and Lahore, started making some components in a very crude way. People like us, our family and another family in Amritsar, started getting those parts from the market, wherever we could get some imported parts and bring it to those artisans. We gave them some money to start making these parts." Four years after the business shifted to Amritsar, a sudden turn of events hit the Munjals very hard. India was now a free country and the turbulent political climate in Amritsar frightened them into putting the brakes on the fledgling bicycle components business. The Munjals had little choice but to shift base yet again -- this time to Ludhiana. Munjal recalls, "In Ludhiana, there is this community called Ramgarhias. They are born artisans. There they had already started manufacturing certain parts and when some people like us, who had the capability of bringing 10

them the samples and the possibility of selling them -- it became a very beautiful combination -- their technology and our commercial strength." India's independence brought with it a new determination: one of self-reliance. The entire nation was on the move and the Munjals would provide the wheels for it. Managing Editor, The Smart Manager, Gita Piramal explains, "Picture for yourself, India at that moment in time, a country racked by famines and droughts, its industrial machinery devastated by the demands made on it by World War II, no friends in the world, no foreign exchange, no reserves. So, naturally, Nehru and the administration of the time invited entrepreneurs to build the new temples, which would create wealth for the country." "Many entrepreneurs took the opportunity, amongst them were bicycle makers, bicycles were in big demand at that time. . . groups like the Birlas with Hind Cycles, TI in the south, they all jumped on to this bandwagon. The Munjals were one of them, in fact, they knew the business better than most and their centre of operation would be Ludhiana." Ludhiana in the early 1950s was the melting pot of pathbreaking business ideas, a place steaming with entrepreneurs. This one sleepy little town evolved into a buzzing business hub and captured the spirit of an emerging new India. This was just the right place for young entrepreneurs like Munjals to pump their bicycle components manufacturing business to greater heights, but as always, wheels turned within wheels. Those were difficult times and it didn't turn out as easy for the brothers to take off as they had anticipated. There were plenty of challenges, the foremost among which was to procure a manufacturing licence. Munjal recalls: "Manubhai Shah was the industry and commence minister between 1950 and 1954. He somehow got convinced that if you have to get these people settled and provide them with employment, then you have to allow people to manufacture something, allow people to import something. He created the National Small Industries Corporation, NSIC. " "A Ford Foundation team had come from the United States to advise and guide because at that time, everything was so fluid, nobody knew where to go. I had to travel along with them to Madras (now Chennai), Bangalore and several places. They made a blueprint for the NSIC." What set the Munjal brothers apart from their contemporaries was their gumption and the ability to swing tides in their favour. While, government regulations may have stifled their growth, Brijmohan Lal started travelling across the length and breadth of India, scouting for new possibilities. It was during one such trip that he got the idea to manufacture bicycles. Fortuitously, this time, the government would give him the much-needed encouragement and the thrust that he needed to scale up. Immediately after the launch of Hero Cycles, the youngest of the four brothers Omprakash was given the crucial task of putting a dealer network in place. This was a very significant step that gave Hero Cycles an edge over existing competition like Raleigh and Atlas Cycles. While the brothers worked hard to sell their stuff, Brijmohan Lal straddled the globe to source world-class components and machines. In 1959, he made his first trip beyond Indian shores to Germany -- again a move that would leave this competition miles behind. Munjal recalls, "I went first to Germany for some years and then to Japan and I started bringing in the modern equipment for manufacturing bicycle components. I think I can claim that I took bicycle making to a different 11

level than it was being done then. Germany, at that time, was really bagging business. I bought a complete chainmaking plant for Rs 3 lakh (Rs 300,000)." While Brijmohan Lal travelled across the world to explore new opportunities, his brothers concentrated on consolidating the business and just when it seemed that the good times had finally arrived; tragedy struck. While Hero Cycles was trying to find a foothold in the industry and had almost got even with its competition - a tragedy hit the Munjals. In 1968, the eldest of the Munjals brothers, Dayanand, died. He was the omnipresent father figure who had guided and protected his brothers from all the evils of the big bad world of business. This loss left a vacuum that would be very difficult to fill. Dayanand's sudden demise came as a huge blow for the Munjals, but the brothers were determined not to let his dreams die. The Munjals bounced back from the tragedy with a more focussed look at their long-term expansion strategy. By 1971, the Munjals had set up a rim-making division for Hero Cycles and launched another company called Highway Cycles that would make freewheels -- it was then that Brijmohan Lal restructured and streamlined Heros rapidly expanding business. Within a span of 6-7 years, production at the Hero Cycles plant doubled and in 1975 it became the largest manufacturer of bicycles in India. In the late 70s, the Indian government was slowly stirred into doling out licenses for Indian companies to venture into mopeds and Brijmohan Lal, who had seen mopeds on the roads in Western countries, quickly snapped up the opportunity. Hero Cycles' two-wheeler business would now reach its next level. But to start manufacturing mopeds, Hero Cycles would need a partner. Munjals approached a French two-wheeler giant Peugeot for a tie-up, but in spite of drawing initial interest, the dream ticket eluded the Munjals. The talks broke down and Hero went on to make its own mopeds modeled on the Peugeot machine but designed in India and it was called Majestic Auto By 1983, Majestic Auto had captured almost 35% of the Indian moped market. The ambitious drive of the 70s culminated on a high note in 1979. The company had just reached the production mark of 1 million bicycles. In that same year, Hero ventured into unknown business territories. Piramal explains, "In the 1950s, there were just four Munjal brothers in the business. At the turn of the 21st century, there were 21 active members. BM Munjal's handling of the situation is perhaps a classic illustration of how to manage growth and a growing family." "He worked on two premises; first that all four brothers, the original four brothers, had an equal stake in all the Munjal companies. The second premise was that any Munjal who wanted to work, had to have a business to run. Now what did that mean? That meant that between the 1980s, 1990s and 2000, the business began to expand and to diversify -- they went into textile spinning, they went into financial services. . . although not all of these succeeded." She adds, "They had also integrated vertically right up to a cold-rolling steel mill. But the biggest and the most important factor in all this was their continuous growth in the auto components' segment, and this would become perhaps the Munjal's key competitive strength." After the curtain raiser of the 70s and the successful launch of Munjal Casting in 1981, the stage had been set for a quantum leap that would take India's corporate world by surprise -- in fact, they might never know what hit them, until it was too late. 12

With an enviable slew of successes behind them, the Hero Group emerged a bigger, bolder player in the world of two-wheelers in the early 80s. The first mega milestone of the decade was the decision to join hands with the Japanese automobile giant, Honda. And thus Hero Honda was born. Overnight, it redefined the rules of the game in the two-wheeler industry. Two-wheelers in India were then synonymous with scooters and the scooter market was the monopoly of a lone player -- Bajaj Auto Limited. At a time, when scooters had a waiting period of 12 years or even longer, Hero's tieup with Honda changed it all. Although, it was Munjal's long cherished desire to produce scooters, destiny had other plans. It was a blessing in disguise. India's preferred vehicle, scooters, would amazingly be relegated into oblivion. India had wanted to break free and choked by the malaise of the Licence Raj, it craved for more choices and the sleek motorcycles that rolled out of the Hero Honda assembly line, were just such a welcome sight. But just when things were looking promising for the new joint venture, the clouds of misfortune had gathered over Punjab and cast an ominous shadow over Hero Honda. This time an unexpected political event would rattle it: Operation Blue Star Armoured tanks rolled into the Golden Temple in Amritsar, and in their wake, the country was plunged into a state of unprecedented confusion and cruelty. Sikhism was the target of xenophobia. The Munjals' business based out of Punjab bore the brunt of irrational hatred. For the Munjals, these were difficult times. But Brijmohan Lal Mumnjal was determined not to leave Punjab, not ever, not even after Indira Gandhi's assassination. Piramal recalls, "The summer of 1984 was a tumultuous period for India and it was a watershed moment for the Munjals in their corporate saga. That month, Indian troops were storming the Golden Temple at Amritsar and on the other hand, the Munjals were inking their pact with Honda to begin motorcycle production in India. A few months later, Hero Honda made its first public offering." Hero Honda had set up its first assembly line in Dharuhera, Haryana. The Munjals had for the first time, set foot outside Ludhiana to build a manufacturing facility. Thus, the first 100 cc Hero Honda motorcycle came off the assembly line in April 1985 and with it Hero Honda kick started its journey to unimaginable success. Fill it, shut it, forget it. Slick and unforgettable slogans for a never before kind of launch and a new icon in the two-wheeler industry was born. The same year that Hero Honda launched its first bike, Hero struck pay dirt with another Japanese collaboration, with Showa to make shock absorbers. The new company was called Munjal Showa .But at the very same time, returns from Hero Honda had the Munjals disturbed. A falling yen-rupee exchange rate suddenly left the Munjals on the losing end. Ironically, fortunes had reversed and with the sale of each bike, the Munjals now actually lost money. Piramal explains, "The yen was rising and they were actually losing money on every bike. Honda on the other hand, wanted the components sourced from Japan. They were not sure of the quality and they insisted on it." Behind this, also lay the fact that who is going to make how much money -- will it be Honda or will it be the Munjal Group companies, which made the components. It was a delicate balancing act, a transfer of pricing gain. But good times were right around the corner and soon enough the Munjals got a pleasant surprise. After three decades of non-stop rigour, Hero Cycles emerged right on top of the pile, not just in India, but also in the world, as the largest bicycle manufacturer. The seal of approval came from none other than the Guinness Book of World Records. Piramal says, "When the Guinness Book of World Recordssent out a press release that Hero Cycles was the world's biggest single bicycle maker, it really came as a bolt from the blue and it became a source of pride. There were 13

very few world class companies in India at the time, and this became like a beacon of hope - that it was possible for Indian companies to be world class." Despite the hassles that came with it, the 80s were eventful for the Munjals -- with new partnerships, new milestones and new horizons. In the 90s, Hero Honda had already emerged as the number one manufacturer in India and compelled competitors like Bajaj Auto to reinvent their strategy from scooters to motorcycles. The rupee yen exchange had taken a healthy turn. In 1990, Hero Honda Motors made Rs 1,000 for every bike it sold and that lead to an annual profit of $10 million. But silver clouds are often followed by dark ones. Raman Kant Munjal, Brijmohan's elder son, who had shouldered the responsibility of setting up Hero Honda and had been instrumental in translating his father Brijmohan Lal's dream into reality, died quite suddenly in June 1991. Piramal says, "When he died suddenly it was a massive shock for the family. BM Munjal had actually retired by then and the sad man got back into business and set about grooming his younger son, Pawan. Under Pawan's leadership, Hero Honda actually managed to overtake Bajaj Auto." One personal loss after the another hit Brijmohan Lal Munjal. First his mentor -- elder brother Dayanand -- and then his son Raman Kant passed away, but neither political unrest nor personal losses shook his determination; he was made of sterner stuff. Putting these tragedies behind him, Brijmohan moved on with Hero's expansion plans. In the first lap of the 90s, the group diversified its portfolio. In 1991, it set-up Hero Honda Finlease to finance its customers. Two years later, in 1993, the Group launched Hero Exports, which emerged as India's largest exporter of two-wheelers. And a year later, the Japanese firm reaffirmed its partnership with Hero for the next ten years, and Hero Honda drove all the way, laughing into a brand-new sunrise. This time, Honda finally allowed Hero to move into a domain that was until then, the absolute monopoly of another two-wheeler manufacturer, Kinetic. Hero now got the nod from Honda to manufacture scooters with Honda's technology, but for the Munjals the offer came just a wee bit too late. Hero Honda Motors CEO Pawan Munjal says, "We were very focussed on motorcycles, so they decided to set up a separate company -- a subsidiary of theirs and we decided they would make scooters and we would make motorcycles for the first couple of years. Thereafter, both of us would be free to make all kinds of two-wheelers." Piramal says, "Though outwardly, the partners presented an amicable front. . . that everything is hunky-dory. . . below the surface there were many tensions. Some of these tensions were, for instance, which model should be introduced in the second round, actually delayed the building of the Gurgaon plant. It's a beautiful plant, spanking new, well laid out and spotless but because of these underlying tensions, growth got stymied so much so that, Bajaj Auto once again took the leadership. It brought out its four-stoke engine and had a very cheeky ad -- 'Kyon Hero?" The ambition for growth and to break new ground took the Hero Group from one milestone to the next. Hero tehn tied up with the German automobile giant, BMW. It announced its plans to produce the three-series in India. But neither the partnership not the plan worked. The BMW aspiration remained a pie in the sky and left the Munjals poorer but wiser. Not all dreams come true, not all decisions lead to profit nor all opportunities to success, but in business, what matters is the ability to have the courage to think big. Those who can't, lead nondescript lives but those who dare, 14

become legends. That, in a way, is also the essence of Hero Group's corporate success and by the end of the 90s, they were ready to reap the harvest of the seeds, they had sown on unexplored soil. Young Turks of the Munjal family had taken over the mantel from the patriarch Brijmohan Munjal. Under them, the Hero Group diversified into IT and IT-enabled services and Hero Honda emerged as the market leader with sales of over a million motorcycles. In 2002, Hero Cycles tied up with National Bicycle Industries, a part of the Matsushita Group to manufacture high-end bicycles. The same year, they launched Easy Bills to offer utility bill collection and retail services and then in 2004, they went ahead with a tie-up that would make all the difference to the Hero Group's portfolio. But with this Hero had a little lesson to learn. In 2004, Hero Motors tied up with Aprilia Scooters of Italy. They also worked out an export channel to European market for its two-wheelers and two-wheeler engine through Aprilia. But the demand for two-wheelers in India was only a functional one and they were trying too hard to position high-end motorcycles in the consumer mindspace that couldn't comprehend the need for them. The Aprilia bubble burst but there was still reason to sell it. The Munjals had, with their ambition of making scooters, finally entered the market with the launch of its 100 cc Pleasure in 2006. Piramal explains, "The Munjals knew, by this time, that they could not forever hang on to Honda Scooters. Right in the beginning, they had been disappointed that they wanted to make scooters but had not been allowed to. Of course, the motorcycle business today is much larger than scooters. Then when Honda thought that it would bring cars to India, they did not come to the Munjals, they went to the Shrirams. All this, gave the Munjals food for thought." Despite a long drawn track record of multiple tie-ups and expansion, the Hero Group has always relied on technologies developed by international companies. A strategy that has held the Munjals in good stead for 50 years in this business. So, from the bylanes of Ludhiana to the highways of international renown, 83-year-old Brijmohan Munjal is steady in his dedication towards his work. He built it all with his hard work, nurtured his dreams and fulfilled tehm. With the widespread network of 5,000 dealers across the country, the Hero Group today is a conglomerate with an annual turnover of Rs 10,000 crore. Highs and lows, rewards and backlashes have all been a part of the Hero Group's corporate story, but downfalls didn't discourage them, nor did losses kill their spirit of entrepreneurship.

Bhai Mohan Singh- RANBAXY PHARMACEUTICALS

Bhai Mohan Singh was born at Rawalpindi on the 30th of December in the year 1917. His father Bhai Gyan Chand was a Hindu whereas his mother Sunder Dai was a Sikh. Bhai Mohan Singh began his business career during the Second World War with a construction business. After the partition of India and Pakistan he settled down in New Delhi. While in Delhi he started business as a moneylender. His cousins, Ranjit Singh and Gurbax Singh started Ranbaxy. Then Ranbaxy worked as the distributor for a Japanese pharmaceutical company, A. Shionogi, manufacturing vitamins and anti-TB drugs. When Ranbaxy failed to pay a loan, Bhai Mohan Singh bought the company for Rs. 2.5 lakh. He bought the company on 1st of August, 1952. He joined hands with Italian pharma 15

company Lapetit Spa and later on bought this company too. In the late 1960's with the launch of his super brand, Calmpose he made his mark in the pharmaceutical industry. In early 1970s when Indian adopted a system of process patents, Bhai Mohan Singh quickly realized the possibility of manufacturing any product in the world through reverse engineering. Thus, he established an R&D facility at Mohali. By the year 1973, Ranbaxy Laboratories Ltd became a recognized brand of India. The same year, his eldest son Parviner Singh joined the company. In 1982, he became the Managing Director of Ranbaxy Laboratories Ltd. Bhai Mohan Singh had another son Analjeet Singh. He along with Analjeet laid the foundation of a new company Max. A difference of opinion arose between Bhai Mohan Singh and Parvinder Singh regarding the functioning and expansion of Ranbaxy. In 1999 Bhai Mohan Singh was forced back and Parvider took over the company. This depressed Bhai Mohan Singh and he stopped participating in the company affairs. Bhai Mohan Singh was the ex- vice president of the New Delhi Municipal Corporation (NDMC). For his contribution in civic matters he was awarded the Padma Shri. For his contribution to the industrial development of Punjab, the Punjab Goverment named an Industrial Township near Ropar after him. Padma Shri Bhai Mohan Singh died on March 27, 2006.

K.P. Singh- DLF GROUP

K.P. Singh, the Chairman of DLF Group has given a new form to the real estate business of India. He was born on August 15, 1931. His birthplace is Bulandshahar situated in the state of Uttar Pradesh. He graduated with Science from Meerut College, and moved to UK to pursue a degree in Aeronautical Engineering. He returned India to join the Indian Military Academy at Dehradun. K.P.Singh joined American Universal Electric Company which is a joint venture between Universal Electric Company of Owosso, Michigan and K.P.Singh's family. Later he established Willard India Limited in cooperation with a Philadelphian company ESB inc. He joined DLF Universal Limited as the managing director in 1979. K.P. Singh's greatest achievement is he transformed Gurgaon, a barren village into one of the favorite real estate destinations of India. All over India, DLF has at present 100 million square feet of land which is being developed for residential, commercial and retail projects. The company has an excellent track record of building 21 colonies in Delhi and its neighboring areas in a span of over six decades. K.P. Singh has been associated with a number of professional organizations.He has been the President of ASSOCHAM (Associated Chamber of Commerce and Industry of India). He was the President of the PHD Chambers of Commerce & Industry. Currently, he holds the post of Director, Central Board of Reserve Bank of India; Honorary Consul General, Principality of Monaco; Member of Executive Committee of Federation of Indian Chambers of Commerce and Industry (FICCI); Council Member, Eastern Regional Organisation for Planning and Housing (EAROPH); Founder Member, National Estate Development Council (NAREDCO); Member, Economic Policy and Reforms Council, Government of Rajasthan and Member of the Board of Governors, National Institute of Technology, Durgapur. He received the 'Delhi Ratna' Award from the Chief minister of Delhi Ms. Sheila Dixit for his exceptional 16

contribution to Delhi.

Kumar Mangalam Birla- Chairman , Aditya Birla Group

Kumar Mangalam Birla, the Chairman of The Aditya Birla Group, is one of the most successful businessmen of India. The Aditya Birla Group comprises of 16 companies and joint ventures in India and 22 international companies, mostly in South-east Asia. He is also the Director of the Group's international companies in Thailand, Indonesia, Philippines and Egypt. The Company operates globally in countries like Canada, China, Laos, USA, U.K, Germany, Hungary and Australia. In addition to this, he is a Board member of the G.D.Birla Medical Research & Education Foundation, a Board member of Governors of the Birla Institute of Technology & Science (BITS), Pilani and a Member of the London Business School's Asia Pacific Advisory Board. He is also an "Honorary Fellow" of the London Business School (LBS). Kumar Mangalam Birla was born on June 14, 1967. He was brought up in Calcutta and Mumbai. He studied Chartered Accountancy and later accomplished his MBA(Masters in Business Administration) degree from the London Business School. He got married to Neerja and is the father of three children, Ananyashree, Aryaman Vikram and Advaitesha. Kumar Mangalam Birla has been associated with and still retains many important positions on various bureaucratic and professional Boards of India, namely: Director of the Central Board of Directors of the Reserve Bank of India (from 27 June 2006) Chairman of the Staff Sub-Committee of the Central Board of the Reserve Bank of India Chairman of the Advisory Committee formed by the Ministry of Company Affairs (for 2006 and 2007) Member of the Prime Minister of India's Advisory Council on Trade and Industry Chairman of the Board of Trade Member of the Government of Uttar Pradesh's High Powered Investment Task Force Member of the National Council of the Confederation of Indian Industry (CII) Member of the Organising Committee for Commonwealth Games, Delhi 2010 For eleven years he has been nurturing the Aditya Birla Group, for his entrepreneurship and leadership qualities he has received many awards and accolades including: Lakshmipat Singhania - IIM, Lucknow National Leadership Award - 2006 "The Ernst & Young Entrepreneur of the Year -India" (2005) "Young Super Performer in the CEO Category" by Business Today(2005) Udyog Ratna by Chamber of Commerce and Industry(2005) D.Litt (Honoris Causa) degree by Banaras Hindu University . 17

In the decade since he found himself in his father's large shoes, Kumar Mangalam Birla has forged a career that could make him the biggest Birla of them all. When his father, Aditya Vikram Birla, died of prostrate cancer 10 years back, very few people thought this shy and obsessively low-profile young son would be able to take over from his father. Today, when Kumar Mangalam Birla, 38, talks about his dream of the Aditya Birla Group entering the Fortune 500 league, the world sits up and listens. Consider the figures: the turnover of the group, which has 16 companies and joint ventures in India and 22 separate international companies, mostly in South-east Asia, was worth Rs 15,000 crore (Rs 150 billion) in 1995. It has more than doubled to Rs 33,000 crore (Rs 330 billion) today, with a market capitalisation of Rs 30,000 crore (Rs 300 billion). The journey has been long and in the process, Birla has razed many ancient financial practices and power centres within the group. His doting grandparents Basant Kumar and Sarla Devi were always convinced that he was destined to succeed. Sarla Devi has an interesting story to tell: The Birlas organised a religious conclave attended by 180 religious leaders in Kolkata when the young Birla was only three and a half years old. Present at the conclave was a Muslim religious leader from Sri Lanka who wrote a letter to BK making two forecasts - that his grandson would be seriously ill at the age of seven, but would be Birla number one eventually. Kumar Manglam Birla did suffer from meningitis when he was seven, so Sarla Devi says she saw no reason why the second forecast wouldn't be correct as well. And well it may, considering the scorching pace Birla has set for his group, shaping and reshaping his companies relentlessly. THE RESULT: Kumar Birla is the 8th youngest billionaire: Fortune The grand plan Highlights of Kumar Mangalam Birla's journey, starting from the present 2005 Indo Gulf and Birla Global merge with Indian Rayon to form Aditya Birla Nuvo Aditya Birla Group to set up a world-class aluminium project in Orissa The Aditya Birla Group signs a framework agreement to acquire St Anne Nackawic Pulp Mill, Canada 2004 Completion of the implementation process to demerge the cement business of L&T and completion of open offer by Grasim, with the latter acquiring controlling stake in the newly formed company UltraTech Indal merged with Hindalco Indian Rayon completes its brownfield expansion of 40,000 tpa at Hi-Tech Carbon, Gummidipundi, taking total capacity to 160,000 tpa 2003 The Group acquires Mount Gordon Copper mines in Australia Liaoning Birla Carbon, the Group's first carbon black company in China, is incorporated Indian Rayon acquires TransWorks, a leading Indian ITES/BPO company The L&T board decides to demerge its cement business into a separate cement company (CemCo), in which L&T retains 20 per cent of its equity with the balance distributed to shareholders in proportion to their 18

shareholding in L&T. As a consequence, Grasim acquires 8.5 per cent equity stake from L&T and then makes an open offer for 30 per cent of the equity of CemCo, to acquire management control of CemCo The Group divests its entire 37.38 per cent equity stake in Mangalore Refineries and Petrochemicals Ltd (MRPL) to the Oil and Natural Gas Corporation (ONGC) Birla Copper acquires Nifty Copper Mines in Australia Indian Rayon launches its insulators joint venture with NGK Insulators, Japan 2002 The Grasim board approves an open offer for purchase of up to 20 per cent of the equity of L&T. Grasim increases stake in L&T to 14.15 per cent (351.84 lakh shares). Corporate restructuring of Hindalco and Indo Gulf. The fertiliser business of Indo Gulf demerged into a separate company called Indo Gulf Fertilisers. Indo Gulf's copper business merged with Hindalco, creating a nonferrous metals powerhouse. Grasim divests its Gwalior unit to Melodeon Exports, and consolidates textile operations at a single location in Bhiwani, MP, to manufacture both Grasim and Graviera brands. PSI Data Systems acquires Birla Technologie, bringing the group IT services business under one umbrella. Indal acquires a controlling stake in Anapurna Foils Ltd (AFL), to augment its position in the foil and packaging sectors. Subsequently AFL is merged with Indal. 2001 Grasim acquires 2.50 crore shares - representing just over 10 per cent of the equity - in L&T from Reliance Industries. Birla Consultancy & Software Services spun off; becomes a separate entity called Birla Technologies. Indian Rayon acquires a stake in PSI Data Systems. Grasim closes its pulp plant at Mavoor. 2000 Indian Rayon acquires Madura Garments. The Group forays into e-business through a strategic alliance of its software arm, Birla Software and Consultancy Services (BCSS), with Lawson Software, USA. Gyanodaya, the Institute of Management Learning of the Adiya Birla Group, is inaugurated. Hindalco acquires Indal. The Indal board is reconstituted. Kumar Mangalam Birla becomes Indal's new chairman. The Group holding goes up to 74.6 per cent, and further increases to 96 per cent in FY'03. The Insurance Regulatory Development Authority (IRDA) grants registration in principle to Birla Sun Life Insurance Company. Indian Rayon acquires major world rights for international apparel brands Louis Philippe, Allen Solly and Peter England. The Group announces its intention to launch a 450 MW green power project in Karnataka. The merger of Birla AT&T and Tata Cellular is completed. 1999 A joint venture with financial services major Sun Life of Canada is inked. 1998 The Group forms a 50:50 joint venture company with Tembec Inc of Canada to supply pulp for its VSF operations. Grasim acquires Dharani Cement and Shree Digvijay Cement. The cement businesses of Indian Rayon and Grasim are consolidated into a single division of Grasim - the biggest restructuring ever by any corporate entity in India. 19

 The Group forays into copper with the commissioning of Indo Gulf's copper smelter. Thai Organic Chemicals begins commercial operations of chlor-alkali and epichlorohydrin 1996

A new corporate logo - Aditya, the rising sun - is launched. All group companies are consolidated under the umbrella of the Aditya Birla Group. P T Indo Liberty Textiles is incorporated to manufacture yarn in Indonesia.

1995

The Group enters the telecommunications sector through a joint venture with AT&T Thai Sulphites & Chemicals is incorporated to manufacture sodium sulphite and sodium metabisulphite

Nandan Nilekani- Co-founder, MD, President , CEO of Infosys Technologies Ltd

Nandan Nilekani, the co-founder, MD, President and presently the CEO of Infosys Technologies Ltd, was the youngest Indian software entrepreneur to be a part of the 20 global leaders of the esteemed World Economic Forum Foundation Board in 2006. Born to Mohan Rao Nilekani and Durga Nilekani in Bangalore in 1955, Nandan Nilekani completed his schooling from Bishop Cotton Boys School, Bangalore and graduated in electrical engineering in 1978 from the Indian Institute of Technology, Bombay. Nandan Nilekani started his career in Patni Computer Systems in 1978 where he met N. R. Narayana Murthy. In 1981, Nandan Nilekani founded Infosys Technologies Ltd together with Mr. N. R. Narayana Murthy and seven colleagues. He became the President and Chief Operating Officer and was promoted to the post of Chief Executive Officer of Infosys in March 2002. Nandan Nilekani is the member of the following Boards Securities and Exchange Board of India (SEBI) Asia Pacific Regional Advisory Board - London Business School Corporate government Advisory Group - Reserve Bank of India The Board of Reuters Advisory Board of Business and Society -ASPEN Institute 20

National Knowledge Commission and E-Governance's National Advisory Group The Jawaharlal Nehru National Urban Renewal Mission's Review Committee The IndUS Entrepreneurs (TiE), Bangalore and National Association of Software and Service Companies (NASSCOM) were both founded by Nandan Nilekani. Nandan Nilekani was awarded the following awards and titles. In 2002-2003, PricewaterhouseCoopers and Financial Times named him "World's most respected business leaders". In 2004 CNBC presented Nandan "The Corporate Citizen of the Year" award. Fortune magazine conferred him "Asia's Power 25" in 2004. Innovative services in the sphere of politics, economic sciences and economy earned Nandan the most prestigious Joseph Schumpeter prize in 2005 In 2006, Nandan was honored with the Padma Bhushan, the highest civilian award by the Indian Government. In 2006 May issue, the TIME magazine counted him the Most Influential Business Personality among 100 in the World. Forbes Asia named him 'Business Leader of the Year' in 2006. In 2007, Nandan Nilekani was named the "Businessman of the Year" by the Forbes Magazine.

Mukesh Ambani - RELIANCE

The Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company, Mukesh Ambani was born on April 19, 1957 in Aden, Yemen. Son of the legendary Dhirubhai Ambani, Mukesh graduated in Chemical Engineering from the University of Bombay and went to the United States to pursue a Masters in Business Administration from Stanford University, but dropped out after his first year to help his father, Dhirubhai Ambani with some of his projects. He joined Reliance in 1981 and was instrumental in Reliance's backward integration from textiles into polyester fibres and petrochemicals. It was under his leadership that the world's largest grassroots petroleum refinery was set up by Reliance at Jamnagar in Gujarat. Mukesh oversaw Reliance's petrochemicals' manufacturing capacities increase from less than a million tonnes to over thirteen million tonnes per year. The Jamnagar refinery presently has a capacity of 660,000 barrels per day. Mukesh Ambani is now all set to enter the retail sector in a big way. Mukesh Ambani has won many awards and accolades. He was chosen as the ET Business leader in 2006. Mukesh Ambani was ranked 42nd among the World's Most Respected Business Leaders in a survey conducted by Pricewaterhouse Coopers and published in Financial Times, London in 2004. He also received the Asia Society Leadership Award given by the Asia Society, Washington D.C., USA. Under Mukesh Ambani's stewardship, Reliance Industries has branched out into offshore, deep water oil and gas exploration and production programmes, a petroleum retail network across India and many other areas. He served as the co-chair at the World Economic Forum Annual Meeting 2006 in Davos, Switzerland. Besides, he was awarded the World Communication Award for the 'Most Influential Person in Telecommunications in 21

2004' by Total Telecom in 2004, apart from being ranked 13th in Asia's Power 25 list of 'The Most Powerful People in Business' published by Fortune magazine in 2004.

Rahul Bajaj- CMD, BAJAJ GROUP

Rahul Bajaj is the Chairman and Managing Director of the Bajaj group, which has been named amongst India's top ten business groups. He is one of India's renowned industrialists and is internationally respected for his business expertise and entrepreneurial character. Rahul Bajaj comes from the family of Jaman Lal Bajaj. Rahul is the grandson of Jaman Lal Bajaj, who founded the Bajaj Group. Shishir Bajaj is the brother of Rahul Bajaj. Rahul Bajaj has two sons, Rajiv Bajaj and Sanjiv Bajaj, and daughter Sunaina Kejriwal. His sons Rajiv and Sanjiv Bajaj manage his companies. Rahul Bajaj completed his schooling from Cathedral, a school in Bombay. Then he further pursed his studies from St Stephen's College, Delhi and Harvard University, USA. He took over control of the Bajaj Group in 1965 and successfully established one of India's best companies. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was India's topmost scooter making company. After ten years of Bajaj Auto's success Chetak was launched. Bajaj Auto had to face many challenges with the liberalization of the Indian economy. The slump in the sale of scooters and the downfall of the stock market of 2001 hit the company hard. It was forecast by some business analysts that Bajaj industries would have to shut down soon. But without losing hope Rahul Bajaj with his business expertise re-established the battered company. He established another factory in Chakan, invested in R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is presently a leader in its sector.

Ramalinga Raju- SATYAM COMPUTERS

Ramalinga Raju Byrraju is a pioneering businessman of India in the world of Information Technology. He is the Chairman of Satyam Computer Services Limited which he established in 1987 in Hyderabad along with his brother-in-law DVS Raju. Ramalinga was born on 16th September,1954 in Bhimavaram, Hyderabad. His father is Satyanarayan Raju and the name 'Satyam' has been kept after him. His wife's name is Nandini and has two sons named Teja and Ramu. Ramalinga Raju graduated from Andhra Loyola College, Vijayawada with a Bachelors degree in Commerce in 1975. Then he did his MBA from Ohio University, USA. He came back to India in 1977 and initially developed a textile industry named Sri Satyam. Then he ventured into real estate business under the name Satyam Constructions. Then he got interested in IT. Ramalinga loves reading books on science, philosophy and management. In 1992, he launched Satyam Infoway or Sify which has today become one of the leading Internet service providers in the Indian market. Awards won by him: Ernst and Young Entrepreneur of the Year Services Award, 1999 Dataquest IT Man of the Year Award, 2000 CNBC's Asian Business Leader - Corporate Citizen of the Year Award, 2002 22

Lifetime Achievement Award, given by Hyderabad Management Association (HMA), 2005

Mallika Srinivasan- CEO , TRACTORS & FARM EQUIPMENT

Economic Times Businesswoman of the year 2006, she is a well known entrepreneur of India. She has always strived hard to reach for skies, but has deeply rooted her foot into the ground. She is a strong headed woman, who is leading the activities of a Company that is involved in macho business such as tractor manufacturing. She has been able to rise and stand out above all others and make a name for herself in the competitive business world of today. Well, we are talking about Mallika Srinivasan, director of the Rs 2500 crore Amalgamations Group Tafe. Mallika Srinivasan is one of the most successful women CEOs in India. In this article, we will present you with the biography of Mallika Srinivasan, so read on Life History Born on November 19, 1959 as the eldest daughter of industrialist A Sivasailam, she is the pride of her parents. She was always brilliant in academics. She did her in MA (econometrics) from Madras University. Thereafter, she went abroad to pursue further studies. She did her MBA from the Wharton School of the University of Pennsylvania. Married to Venu Srinivasan, the CMD of TVS Motor, she is living happily with their two children. In the year 1986, she planned to join the family business. She was made the General Manager of Tafe (Tractors and Farm Equipment) Company. When she took over the responsibility of furthering the economic wealth and business, the turnover of the Company was Rs 85 cr. Under the expert guidance of her father and the whole hearted support of the team, she brought about a major transformation. She converted Tafe into a hi technology-oriented company, thereby becoming the initial choice of the farmers. There was a period, when the Company had to face a tough time, however; even then, the Company invested a huge amount of over Rs 70 crore in the designing and development of product. At present, the Company is earning a business over Rs 1,200 cr. It has been a long journey for the Company, which has witnessed many ups and downs. But, it was the strong determination of this courageous woman that slowly and steadily made the firm climb the ladders of success. Today, the Company has not only found a niche for itself as the leading tractor manufacturer, but also expanded its area of operations. It has also entered into others businesses like engineering plastics, panel instruments, automotive batteries gears, hydraulic pumps, and farm implements. 23

The company has had a long alliance with Massey Ferguson, which is now a part of Agco. The company is looking forward to exporting fully constructed tractors to Agco. Presently, Agro has a stake of 24% in the company and the rest lies with Simpson & Co. Presently, Mallika Srinivasan is serving as the president of premier industrial bodies like Tractor Manufacturers Association and the Madras Management Association. She is the first lady to have assumed the role of a president of the Madras Chamber of Commerce and Industry. She is also a prominent member of the governing board of the Indian School of Business, Hyderabad.

Kanwal Rekhi- EXCELAN

[Note: The following biography was prepared and presented at the 2001 gala by Board Member and KRON TV News Anchor Emerald Yeh.] Our third honoree help put a new face on Silicon Valley's picture of success. Kanwal Rekhi made his millions by launching and then selling his own start-up. But he found out in a rather devastating way that his image (translate that to ethnicity) was considered detrimental to the Silicon Valley success story and he was forced to take a lower profile in his own company. It was an episode that would eventually lead him to re-establish the roots he had forsaken in coming to America and in turn, helped sprout a whole new generation of East Indian entrepreneurs, so that today, the Indian face is very visible on the frontline of our world-famous high-tech industry. Kanwal Rekhi was born in 1945 in Rawalpindi the third of eight children of an Indian army officer. Within two years of his birth, Kanwal's family fled the newly partitioned Muslim Pakistan with little more than the clothes on their backs and settled in Kanpur, India. After what he described as a middle-class upbringing with an emphasis on education, Kanwal graduated from the highly-esteemed IIT Bombay with a Bachelors in Electrical Engineering. He came to America to earn a Masters in Electrical Engineering at Michigan Tech University. Newly arrived, he recalls having only $10 in his pocket. He found a room at the YMCA for $4 a night. That first day, he found a job washing dishes for $1.25 per hour. After a full day's work, with meal provided, he had earned $10 and that's when he knew he could survive in America. "I had a place to sleep, food in my stomach, a little extra money in my pocket and a sense of purpose," Kanwal said. He took on odd jobs at night as a busboy, doorman and even factory welder. While he was still in school, he somehow struck up a pen pal relationship with an American-born woman named Ann Holt who would soon join the Air Force. They corresponded for three years before they actually met. Within 24

a few weeks of their meeting, they decided to get married. By this time, he had gotten his Master's degree and was working as a computer engineer. He made a promise to Ann that they would be well off by the time he was 40. They moved to San Jose and several engineering jobs later, at the age of 36, Kanwal, along with two Indian colleagues, started Excelan, a computer networking company. Kanwal ran the company for awhile and worked hard to fit the role of American CEO, shaving his beard, buying lots of suits and white shirts and taking speech therapy. He was named Entrepreneur of the Year by Venture Magazine in 1987. But when it was time for the company to go public in 1987 and Kanwal and his Indian partners met with about 100 venture capitalists to raise money they consistently heard the same objection from the investors -- that the company lacked the right manager, it needed someone to look the part and play well to Wall Street. They were happy with Kanwal's performance as chief executive. It was just a matter of what face to put on the company. It wasn't hard for Kanwal to decipher the hidden message. Before Excelan went public, the backers asked Kanwal to step down as CEO in favor of a retired Hewlett-Packard executive. He was told the move would preserve his investment that his own net worth would be at risk if the stock didn't fly. The company went public it was a successful IPO, but the newly-hired HP executive didn't work out and within a year, Kanwal moved back in the top job. until a year later, in 1989, when Excelan was sold to Novell for $210 million dollars. Kanwal was 41 he was a year late, but he had basically kept his promise to Ann. Again, though, he was elbowed out of the top job and then passed over when the CEO position was vacated yet again. Years later, one investor admits the board probably should have let Kanwal run the company. "Back then, Indians weren't perceived as winning CEO's," this investor told Fortune magazine. "We didn't know if people would trust them as managers," he said. After one rebuff too many, for reasons that had little to do with merit, Kanwal left Novell in 1995. He felt burned out, his children were growing too quickly, so he took his family on a long road trip -- covering six to seven thousand miles in 30 days. Back home after a whirlwind tour of America, with no job to go to, Kanwal was told by Ann go somewhereanywhere--during the day and come home in the evening. He turned to a group called TIE which he had helped start in 1992. TIE stands for The IndUS Entrepreneurs, a Silicon Valley based non-profit support network that helps bring young Indian entrepreneurs along, providing advice, contacts and funding. Up until now, Kanwal had not been too active in TIE. In fact, he said, "I was as de-Indianized as anybody," having moved to America, married an American, followed the American track to success, gone to football and baseball games and kept up with American politics. "India wasn't a part of my life, he said. But that was about to change dramatically. Word got around that the former Chief Technology Officer of Novell was available as a resource and Kanwal was soon advising 8 to 10 entrepreneurs a day who sought him out. These daily interactions and the much-appreciated mentoring began to stoke the fires of this once burned out man. He saw his mission in advancing Indian entrepreneurship and wealth creation as a way to gain clout for his community. He was determined to show that Indians can run companies as well as engineer them. TIE sprung up new chapters across the country and to date, its entrepreneurs have created $75 billion dollars in new market capitalization. Since his Excelan days, Kanwal has witnessed and indeed helped bring about the emergence of Indians in upper management and given them a voice at the highest levels. A recent Business Week article reported that 40 percent of Silicon Valley startups have Indians in high positions. Today, Kanwal Rekhi is a key investor in and a sage to the Valley's affluent Indian community. He has funded 15 companies as of 1998. 25

Having succeeded as an economic entrepreneur, he has become a social entrepreneur, investing to have an impact on society. Kanwal says, "As a Sikh, I believe that you work hard to make an honest living, you thank God for your good fortune, and you share your wealth with others. But rather than just give someone help for today and making them happy for that one day," he said, "you can give them the chance for an education and set them up for life." Because education was so essential in his success, Kanwal pledged $5 million dollars to the Foundation for Excellence, which identifies bright, but poor students in India and pays for their college tuition AND living expenses, so that they don't burden their families. The Foundation has funded more than 1,500 students so far. Kanwal's particular interest is in supporting disadvantaged girls. "That's how you leverage education for the whole family," he said. "If you educate a boy, you have educated a person. If you educate a girl, you educate a family down the road." In addition, Kanwal donated $5 million dollars to his alma mater in Michigan as well as $5 million dollars to his alma mater in India, IIT Bombay to ensure quality education for coming generations. His donation in Bombay, in particular, made a splash because giving money to your old school was an unfamiliar practice in India up until now. In fact, when Kanwal first went back to his university, he was shocked at how rundown it was. That discovery prompted his gift to the school. Others have since followed Kanwal's gesture, and Kanwal has helped raise nearly $200 million dollars for higher education in India. In fact, Kanwal now travels to India every other month to help bring America's free market ways to India. He sees that as the avenue to success for India as a nation. He has met resistance to be sure, but says he's making inroads. His goal now, he says, is to "help transform India in my lifetime." Just recently, he returned from a worldwide TiE conference, where he's been named chairman of Global TiE with its 30 chapters. Kanwal, who is well off enough that he never has to make another dime in his life, says he's looking to be paid in another way. "A man needs to be paid, whether it is financial payment or emotional payment. I have more money than anybody can consume in 1,000 lifetimes. So I am using my resources to get the emotional satisfaction of being able to help, to make a difference."

Sabeer Bhatia- HOTMAIL

Biography Sabeer was born in Chandigarh, India in 1968. His father, Baldev Bhatia, started as an officer in the Indian Army and later joined the Indian Ministry of Defence, while his mother, Daman Bhatia, was a senior official at the Central Bank of India.[1] Bhatia was schooled at the St. Joseph's Boys' High School in Chandigarh. He started his undergraduate education at the Birla Institute of Technology & Science, BITS, Pilani and transferred to Caltech after two years at BITS. After graduating from Caltech, Sabeer went to Stanford to pursue his MS in Electrical Engineering. At Stanford, he worked on Ultra Low Power VLSI Design. At Stanford, he was inspired by entrepreneurs such as Steve Jobs and Scott McNealy eventually deciding to become one himself. Instead of pursuing a PhD after his Masters, he decided to join Apple.

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Founder of Hotmail After a brief stint at Apple, Sabeer joined a startup company called Firepower Systems Inc, where he spent two years. At this point, Sabeer started working on new ideas for the Internet and he teamed up with Jack Smith, a colleague from Apple Corporation. The two came up with the concept of a web-based database entitled Javasoft. While pursuing this idea, they subsequently realised the potential of a web-based e-mail system and thus decided to create one called HoTMaiL (the uppercase letters spelling out HTML - the language used to write the base of a webpage).In order to attract attention, the e-mail service was provided for free and revenue was obtained through the advertising on the website. Draper Fisher Ventures invested $300,000 on the project and the service was launched on July 4, 1996. In less than six months, the website attracted over 1 million subscribers. As the interest in the web-based email provider increased, Microsoft eventually took notice and on December 30, 1997, Hotmail was sold to Microsoft for a reported sum of $400 million. Other ventures After selling Hotmail, Bhatia worked at Microsoft for about a year and in April 1999, he left the company to start another website, Arzoo Inc, which was shut down when the dot-com bubble burst. In 2006, he relaunched Arzoo as a travel portal. He started a new website trying to capitalise on the emerging blogosphere - BlogEverywhere with co-founders Shiraz Kanga and Viraf Zack. He also pushed for a project enabling access to the internet through cable television in Indian homes. However, due to bureaucratic problems it is very unlikely that this will reach completion. Future plans of his include the development of a new city in India by the name of Nano city. The aim of Nanocity is to replicate the vibrance and eco-system of innovation found in the Silicon Valley. Awards "Entrepreneur of the Year," Awarded by the venture capital firm Draper Fisher Jurvetson (1997) Named to the "Elite 100," Upside magazine's list of top trendsetters in the New Economy Recipient of the "TR100" award, presented by MIT to 100 young innovators who are expected to have the greatest impact on technology in the next few years Selected by the San Jose Mercury News and POV magazine as one of the ten most successful entrepreneurs of (1998) Named by TIME as one of the "People to Watch" in International Business (2002)

Shahnaz Hussain- HERBAL BEATY PRODUCTS

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Introduction She captured the markets around the world and now she wants to conquer space. In an innovative move, Shahnaz Husain has started work on formulations that astronauts could carry with them in their extraterrestrial sojourns to protect their skin from the ravages of space travel and slow down the ageing process. She has sent National Aeronautics and Space Administration (NASA) free samples of her moisturizers, hoping that they will be used on space expeditions. Shahnaz Husain is one of India's most successful women entrepreneurs. Her company, Shahnaz Husain Herbals is one of the largest manufacturers of herbal products in the world. It formulates and markets over 400 products for various beauty and health needs and has a strong presence across the globe, from the USA to Asia. In 2002, the Shahnaz Husain Group, based in New Delhi, was worth $100 million. It employed about 4200 people in 650 salons spread across 104 countries. The Group has seen a good growth rate in the 25 years that it has been in business. The average growth rate in the initial years (late 1970s to the early 1980s) was 15-20%. In the 1990s the average growth rate was 19.4%. A number of awards, both national and international have been conferred on Shahnaz Husain. Some of them are "The Arch of Europe Gold Star for Quality", "One of the Leading Women Entrepreneurs of the World", "The 2000 Millennium Medal of Honor", "Rajiv Gandhi Sadbhavana Award", etc. The Making of an Entrepreneur Shahnaz Husain belongs to a royal Muslim family which migrated from Samarkhand to India and later held high positions in the princely kingdoms of Bhopal and Hyderabad before India's independence. Shahnaz received her schooling in an Irish convent and because of the influence of her father, Chief Justice N.U. Beg, she developed a love for poetry and English Literature. She thus had the advantage of growing up in a traditional family and receiving a modern education. She was married at the age of 15 and was a mother by the next year. When her husband was posted in Teheran, Iran, she developed an interest in beauty treatments and decided to study cosmetology. To support the expenses of the training financially, she wrote articles for the Iran Tribune on various topics under different names. In the course of her studies, she learnt of the harmful effects of chemicals on the human body. Consequently, she turned her attention to Ayurveda (Refer Exhibit III), which she believed was the ideal alternative to chemical cosmetics, which not only harmed the human system but also led to the deterioration of the environment in the long run. After leaving Teheran, she trained extensively in cosmetic therapy for 10 years in some of the leading institutes of London, Paris, New York and Copenhagen. On her return to India in 1977 she set up her own salon at her house in Delhi with an initial investment of Rs 35000. In contrast to salons offering chemical treatments, Shahnaz offered Ayurvedic products. Entrepreneurship - The Shahnaz Husain Way Shahnaz Husain uses the Ayurvedic method of treatment, which uses natural formulations to cure ailments. She is the pioneer and leader of Ayurvedic beauty products in the world offering Natural Care and Cure. The Shahnaz Husain Group offers exclusive salon treatments geared to individual needs as well as a number of commercial formulations for the treatment of specific problems like acne, pimples, pigmentation, dehydration, alopecia (hair 28

loss), etc. According to the Group, ayurvedic products are well suited to human skin and hair as they are non-toxic and have no harmful side effects. The human body adapts well to the natural treatments of Ayurveda while it has an inbuilt resistance toward chemical treatments... The Turning Point The turning point in her business came when she represented India at the Festival of India in 1980. Her team was given a counter in the perfumery section of Selfridges in London. She managed to sell her entire consignment in 3 days and also broke the store's record for cosmetics sales for the year... Diversification The Group has diversified into Ayurvedic centers for Panchkarma, Dhara and Kerala massage. It has also set up two Shahnaz Husain Ayurvedic Health Resorts, one near Delhi and another in collaboration with the Hyakumata group of Japan in the US island of Saipan. These resorts which can accommodate about 200 people at a time, aim at providing urbanites treatments and programs designed to counteract the stress of modern life. The Group has also been holding discussions with major five star hotels in New Delhi and New York to set up health spas... Training Future Entrepreneurs Seeing the need for internationally recognized institutes that offered professional training in beauty, Shahnaz Husain set up Woman's World International. This was started at a time when people who wanted to train in beauty treatments and therapy could only get apprenticeship training... Lessons on Entrepreneurship Shahnaz Husain has acquired worldwide recognition. Her dedication and relentless hard work have paid off and she heads a Group which is the largest of its kind in the world. "It is important to have a dream and to believe in the magic of your dreams" says Shahnaz, who has been able to convert her own dream into a business worth millions of dollars. Shahnaz believes that a true entrepreneur is a person who has independence of spirit. "One should be innovative, dynamic and willing to try every avenue towards success"...

Ramoji Rao- EENADU GROUP

Abstract: The case, 'The Ramoji Group' talks about the group from Andhra Pradesh (India) that became a Rs 15 billion empire under the entrepreneurship of Ramoji Rao. The case discusses in detail, the various strategies of Ramoji Raos strategies to expand into the media (print and broadcast), entertainment, foods, films and other industries. The group seemed successful as it derived synergies from all its varied businesses. Introduction In April 2001, Ramoji Groups Film City, hosted its first English production, Quicksand, produced by Ramoji Rao1 and directed by Sam Firstenberg.2 Thus, Ramoji Film City brought international (Hollywood) 29

attention to Hyderabad. Ramoji Rao incorporated the Ramoji Group in 1962, with Margadarsi Chit Fund Ltd. By 2001, the Rs. 15 billion Ramoji Group became one of the biggest business houses in India. The group had interests in newspapers and magazines, hotels, films and television, investment companies, condiments and confectioneries, a 1000-acre film city, apparels and handicrafts. (Refer Exhibit I). Over the years, the Ramoji Group under the entrepreneurship of Ramoji Rao, seemed to have set standards in the print, television and the film industry. Analysts felt that Ramoji Raos excellent business acumen, sharp insight and an eye for spotting out opportunities, made him a successful entrepreneur. Background Note

Ramoji Rao, started his career in the early 1960s in Delhi with an advertisement agency Ad Crafts. In 1962, he opened the fi fund company in Hyderabad. Realizing the advertising needs of Margadarsi, Ramoji Rao established an ad agency Kiron Ad

Kiron Ads was the first accredited ad agency in Hyderabad. After a few years, the second branch of Margadarsi was opened in This was followed by the setting up of Dolphin Hotel in Visakhapatnam. In the late 1960s, Ramoji Rao also started a magazine for the farmers called 'Annadata' in Telugu.3 Commented Ramoji Rao, "My heritage lies the soil and my forefathers were all farmers. But I sold off all my property and to atone for this and to do something special for the farmer community I started a magazine in their language" In 1974, Ramoji Rao entered the print media by launching Eenadu, a Telugu newspaper in Visakhapatnam. Ramoji Rao explained, "I focussed on the region which I thought was most relevant to the people." The Hyderabad edition was launched in 1975, followed by the Vijayawada (Andhra Pradesh) edition in 1976. In the early 1980s, Ramoji Group entered the foods business with Priya Pickles. The Priya brand was later extended to culinary pastes and powders The Group then made a foray into films with Ushakiron Movies. The Group established Mayuri Film Distributors to distribute its films and Mayuri Audio to market the audio cassettes of the films. In the early 1990s, Ushakiron Movies diversified into satellite television with ETV the Telugu channel. In 1992, the Ramoji Group started a handicrafts division under the name 'Kalanjali'. The division was set up with a view to promote the sale and export of handicrafts, cottons and textiles of Indian craftsmen. On September 9, 1997, The Ramoji Group inaugurated its most innovative creation - The Ramoji Film City based on the maxion - "Walk in with your script and walk out with your print". Spread over 1000 acres, the Film City had gardens, temples, a sprawling countryside, a fort, hotels, city streets, railway stations, a palace, an airport, a mobile kitchen etc. It had all the technical support to make a film - 40 studio floors, a fully-equipped prop shop, a set design and construction division, state-ofthe-art equipment, experienced production staff, and hi-tech digital editing, dubbing and soundrecording facility. Said Ramoji Rao, "The idea is to save time, energy and resources and focus on creative excellence, executional quality, economical schedules and meticulous planning"...Ramoji Rao - Spotting New Opportunities. Ramoji Rao's vision was to achieve excellence in his every venture he undertook. His biggest coup in the print industry was the introduction of a color, tabloid sized 'mini-edition' of Eenadu for each of the 30

districts in Andhra Pradesh and the mini-detailed paper for Hyderabad. In 1998, he bagged the B D Goenka Award, a prestigious award for excellence in journalism. Some analysts however felt that Ramoji Rao followed campaign journalism.' He was actively involved in promoting the Telugu Desam Party (TDP) founded and headed by N.T. Rama Rao, in Andhra Pradesh through his Eenadu.... However Ramoji Rao defended saying, "The role of the press is not purposeless. If I believe that it is good for the people, I will do it. He further said, "The media has to perform without vested interests, I have never sought any favor from the government ever... The Road Ahead From one company in 1962, the Ramoji Group became a Rs 15 billion business empire with presence in many industries by 2001. For future growth, Ramoji Rao planned to concentrate on the group's core businesses like the print media, satellite television and films. As part of the future plan, Ramoji Rao announced investments in film industry. In 2001, Eenadu TV planned a Rs.600 million upgradation of its earth station. The project included a Rs.180 million project to automate its newsroom. The group also planned to launch newspapers in other south Indian languages...

C K Ranganathan - CavinKare
C K Ranganathan, chairman and managing director of CavinKare, has shown the world it is possible to beat the multinationals even in the most difficult market of fast moving consumer goods. Ranganathan's journey, which started from a small town of Cuddalore in Tamil Nadu, has been an amazing one. A business which he started with only with Rs 15,000 is now worth Rs 500 crore (Rs 5 billion). He learnt the first entrepreneurial lessons from his father, Chinni Krishnan, who started a small-scale pharmaceutical packaging unit, before moving on to manufacture pharmaceutical products and cosmetics. His father, his inspiration My father, Chinni Krishnan, an agriculturist, was also into pharmaceutical business. As I was poor in academics, he wanted me to either do agriculture or start a business. My siblings were good in studies -- two of them became doctors and another a lawyer. I was the odd one out. While my siblings studied in English medium schools, I was put in a Tamil medium school. I used to suffer from an inferiority complex because of my poor academic record. Studies did not interest me, but rearing pets did. When I was in the fifth standard, I had a lot of pets -- more than 500 pigeons, a lot of fish and a large variety of birds. I used to earn my pocket money out of pet business at that time. Perhaps, the entrepreneurial spirit in me showed its first streak. The origin of the concept of sachets My father died as I entered college. He had come out with the sachet concept a couple of years prior to his demise. He felt liquid can be packed in sachets as well. When talcum powder was sold only in tin containers, he was the one who sold it in 100 gm, 50 gm and 20 gm packs. When Epsom salt came in 100 gm packets, my father brought out salt sachets of as low as 5 gm.'Whatever I make, I want the coolies and the rickshaw pullers to use. I want to make my products affordable to them,' he used to say. Selling things in sachets was his motto as he said, 'this is going to be the product of the future.' But my father could not market the concept well. He moved from one innovation to another but never thought of marketing strategies. He was a great innovator, but a poor marketer. 31

Joining the family business After my father's death, my brothers took charge of the family business. In 1982, when I joined them after my studies, they had launched Velvette Shampoo. Within eight to nine months, I left the business because my ideas clashed with theirs. As I was in the manufacturing unit, I did not know anything about marketing or finance. But, my inferiority complex notwithstanding, I was somehow confident of doing business better. Starting his own business with Rs 15,000 I had left my brothers saying that I did not want any stake in the property or business. That was a defining moment for me. I had saved Rs 15,000 from my salary and that was all I had. Yet I was confident of achieving success. I did not feel anything about riding a bicycle after having got used to cars. For a week, I could not make up my mind as to what business to do. I knew only two things; making shampoo and rearing pets. I didn't want to venture into the shampoo business as it would initate a fight with my brothers. However, I decided to do the same later as I could only make shampoo.I rented a house-cum-office for Rs 250 a month against an advance of Rs 1,000. I took another place for the factory for a rent of Rs 300 a month and against an advance of Rs 1,200. I bought a shampoo-packing machine for Rs 3,000. How Chik Shampoo was born I named it Chik Shampoo after my father. The product did not succeed immediately; we learnt many things during the process. In the first month, we could sell 20,000 sachets and from the second year, we started making profits. I moved to Chennai in 1989 but our manufacturing unit continued to be in Cuddalore. It took me three years to get the first loan because banks asked for collateral. I did not have any. But one particular bank gave me a loan of Rs 25,000 which we rotated and later upgraded to Rs 400,000, Rs 15 lakh (Rs 1.5 million), etc. You know what the bank manager wrote in our loan application? 'This person does not have any collateral to offer but there is something interesting about this SSI unit. Unlike others, this company pays income tax!' I must say my business never looked back because I was very particular about paying income tax. Strategies that made Chik Shampoo No. 1 in South India When Chik entered the market, Velvette Shampoo was being marketed aggressively by Godrej. But a scheme of ours became extremely successful -- we exchanged five sachets of any shampoo for a Chik Shampoo sachet, free. Later, we altered the scheme -- we started giving one free Chik Shampoo sachet in lieu of five Chik Shampoo sachets only. Soon, consumers started asking for Chik sachets only. The sales went up from Rs 35,000 to Rs 12 lakh (Rs 1.2 million) a month. When we introduced jasmine and rose fragrances, our sales went up to Rs 30 lakh (Rs 3 million) per month and with actor Amala as our model, our sales rose to Rs 1 crore (Rs 10 million) a month! Each idea of ours was rewarded by our customers. There has been no looking back since then. Our market share increased and in 1992, we became the numero uno in South India. It took nine years for me to overtake my brothers' business. How Chik Shampoo conquered the rural market Multinational companies sold products in big bottles and not in sachets and they sold only from fancy stores. They did not look at the small kirana stores, nor did they look at the rural market. 32

We went to the rural areas of South India where people hardly used shampoo. We showed them how to use it. We did live demonstration on a young boy. We asked those assembled to feel and smell his hair. Next we planned Chik Shampoo-sponsored shows of Rajniknath's films. We showed our advertisements in between, followed by live demonstrations. We also distributed free sachets among the audience after these shows. This worked wonders in rural Tamil Nadu and Andhra Pradesh. After every show, our shampoo sales went up three to four times. Today, the Indian rural market is growing at a pace double than that of the urban market. Launching Meera Herbal powder We continued with Chik Shampoo for seven years before venturing into anything else. Meera Herbal powder was actually not our idea. Shaw Wallace already had a herbal product but it was marketed very poorly. We felt there was a demand for herbal products and we made a good product. I felt we should be the leader if ours was a good product. And guess what? In the third month itself, we topped the market. In six months, we had 95 per cent market share, while Shaw Wallace had only 4-5 per cent. How Beauty Cosmetics became CavinKare As we planned to expand to new products, we thought the name Beauty Cosmetics would be restrictive. In 1998, we ran a contest among our employees for a name and one of them suggested CavinKare; with C and K spelt in capitals. CK, my father's initials. Cavin in Tamil means beauty and grace. Perfumes for the poor We wanted to cater to those who cannot afford (high priced) perfumes. Good perfumes came at a huge price -they were beyond the means of ordinary people. We decided to come out with a Rs 10 pack Spinz. We were successful in that too. Shampoo market share In the last two to three years, our market share has come down though we are growing. It is mainly because of the anti-dandruff shampoos in the market. We do not have an anti-dandruff shampoo yet. From 0 per cent, the antidandruff shampoos have taken over 25 per cent of the market. Only 75 per cent of the market, therefore, constitutes ordinary shampoos. We hold 20 per cent of the market share. But we are the largest brand in rural Uttar Pradesh, Andhra Pradesh, etc. and we are the number one in many other states as well. On the decision to launch a fairness cream We decided to launch Fairever in 1997 as we saw a huge demand fairness cream. We are the second largest player in the market in this. Research states that when a product is good, consumers do not shift to a new brand. Our team told me not to venture into the fairness cream market as the consumers were quite satisfied with the existing products. But we went to launch our product containing saffron -- which is traditionally used to get a fair complexion. In six months, our sales galloped. 33

This was followed by Indica hair dye. Two and a half years ago, we launched Ruchi pickles in sachets and we became number one there too. We sell close to 5,000 tonne of pickles per annum. We hope to double this in two to three years. Food is a huge market: we have understood that. Our target is to be a Rs 1,500 crore (Rs 15 billion) company in another three years. Reasons behind his success Teamwork is the main reason for our success. We have good professionals who work really hard. The second reason of our success is innovation. We have executed innovative ideas as well. CavinKare Ability Award This month, we presented the 5th CavinKare Ability Foundation awards for physically disabled achievers. I stayed as a tenant at Jayashree Ravindran's place (the woman who started the Ability Foundation). Once, she said she wanted to start a magazine for the disabled. Though she did not ask for sponsorship, I gave her a cheque of Rs 25,000. I also became one of the Foundation's founder members. Once we came to know about the disabled who have climbed the ladder of success, we -- Ability Foundation and CavinKare -- decided to institute an award for them. I feel each of us has to give something back to the society. I have great admiration for those who fight against all odds and attain success. When I started my career, I only faced shortage of funds but these people tide over graver difficulties. We must applaud their fighting spirit.

The success story of Sashi Chimala- COVANSYS, INDIGO TECHNOLOGIES Sashi Chimala is no ordinary entrepreneur. He is not only the 'Jack of all trades,' but -- strangely enough -- even master of all. Even as a young boy Chimala dreamt of becoming an entrepreneur. And become he did. Chimala founded not one, not two, but many companies, and they are in diverse fields like software to coffee to cricket to gaming. He is one of the founding members of Covansys; founder of Indigo Technologies (which was later acquired in a 2-way deal between SSI and Nasdaq); of Qwiky's Coffee, a pioneering retail venture in Asia; and of CricTV.com, the first social video network for cricket. His recent entrepreneurial venture is Interactive Media Technology Inc, which is to launch knibble.com, an online gaming company on July 11. In this interview with Contributing Editor Shobha Warrier, he travels through his ventures, needless to say all quite successful. Early dreams

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It may sound very corny, but my inspiration was Mahatma Gandhi. I always dreamt of becoming an entrepreneur. This may have grown from my obsession with being independent. Both financial independence and independence of thought mean a lot to me. As creativity is the core component of entrepreneurship, I want to tell you about my cartooning days. I started drawing cartoon, which appeared in almost all Telugu publications, as a schoolboy in Andhra Pradesh. The money I earned went towards my education. By now, I must have drawn around 5,000 cartoons. After completing engineering at Kakinada in Andrhra Pradesh, I went to Bombay (now Mumbai) for my post graduation. Moving to the US in 1979 Then in 1979, I went to the United States. I was a programmer at the Tatas. The story of Indian IT outsourcing actually started around that time. TCS [Get Quote] and Tata Burroughs were the only two companies engaged in it, and I was in the second batch and the 60th person to go to the US, to be precise. Those days were difficult because the Americans wouldn't understand our accent. We were treated as 'aliens'! The word alien was an official term to describe an immigrant. Your green card says 'permanent alien' even when we are all human beings and not residents of outer space! Anyway, we were aliens; we were immigrants, but it was the beginning of Indians making it big in the US. The US of the seventies and the US of today America being a country of immigrants, as a rule, is more tolerant of outsiders. But there is a huge difference between the US of 1979 and the US of today. If we were aliens then, today we belong to the most sought after and richest segment. Indians and the Chinese are excelling in mathematics, spelling, and academics. As an entrepreneur, I saw better chances in the US than in India in those days. If you have a good idea, nothing limits you as an entrepreneur in the US. You don't have to come from a rich family to create a big company; you only need to have a great idea. Co- founding Covansys In 1987 I helped Raj Vattikutti to start a company called Complete Business Solutions (later renamed as Covansys). Later, I joined the company and expanded it in the west coast of the US, while Raj was in the east coast. That was how I learnt the ropes of being an entrepreneur. On the one hand, it was easy since we were among the very few Indian companies, and, on the other, it was difficult because we were trying to prove to the world that Indians were good entrepreneurs. In a couple of years the message was out that ours was a good company. Immigrants, not just Indians, but all, work hard because they are out there to prove themselves and not enjoy life. Founding Indigo Technologies I always wanted to start a company that was into products as almost everyone else was focussing on services. In 1992, I founded Indigo Technologies in Cupertino, California. We built an audacious product to automate stock exchanges. I must say it was quite fulfilling.

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Tandem Computers, the de facto providers of stock exchanges and banks liked our product, and they helped us sell it in Taiwan. Nasdaq was already their customer and they introduced us to them. The chief technical officer of Nasdaq went on record saying our product was ten times more saleable than what they had at that time. Nasdaq Europe and Nasdaq Japan exchanges went for our product. We eventually sold our company when Nasdaq, in a joint venture with SSI, formed a company called IndigoMarkets, which used our software. Back in India After living in the US for 20 years, I came back to India because of Indigo Technologies. Tandem became Compaq Computers and took equity in our company, so we had to consolidate all our operations and business. Since we had quite a big team in India, it was suggested that I run the company from here as its chief executive officer. The new India And it was quite a homecoming. I came back to a hugely different India -- a new India -- in 1998. In the seventies, I would not have dreamt of launching a company in India. The new India has tasted the fruits of enterprise. It will never go back to the old ways. Launching a new company may take longer in India, compared to the US, but it's still an achievement. Starting Qwiky's, coffee chain shop After SSI Technologies bought Indigo, I started Qwiky's Coffee Pub. My wife and I missed a genuine coffee joint. In San Jose, we would often go to Starbucks and have a nice cup of coffee. That concept was non-existent in India. Retail outlets, at that time, were new to India. Still, against a projected 100,000 cups of espresso in 12 months, Qwiky's sold 365,000 cups! In the first two years, Qwiky's had sold over one million cups of coffee. When I started Qwiky's I had no competition. The very concept was absent. It was frustrating and exhilarating too. I am glad that I could kickstart an industry. Qwiky's has been remodelled into a franchisee format and will resurface soon in a new avatar. Indian coffee house in the US and the UK With Qwiky's I brought the western concept of coffee pub to India. Now I want to take the Indian concept of the coffee house to the US and UK. Coffee houses in India are places where writers, painters, artists and even businessmen met and had serious intellectual discussions. This is the perfect time to take this concept to the West. Today India is no more an alien nation. Launching interactive community networks Since Qwiky's was on well-oiled rails, I decided to focus on the technology sector. The second wave of web technology is approaching and it is going to be very exciting. That was how the Interactive Ad network and cricket social network (CricTV.com ) came into being. Social networks are going to be the next major thing and it caters to the youth market. As cricket is still an untapped market, we decided to start a social video network for cricket fans that serves as a video sharing platform (similar to YouTube) where anyone can post their personal cricket videos, video blogs and personal opinions. CricTV.com 36

is a community network that is intended to motivate people to watch, share opinions, special moments and videos on cricket. Online gaming Soon, we are going to launch knibble.com, an online gaming site. I call it the Google of games. Knibble is for gamers of all ages and it's for free. Internet, the new medium and the market We also plan to create many more small niche verticals. Indian Internet advertising market is around 1.5 per cent of the total advertising market while in the US, the same is around 6 or 7 per cent, which is close to $100 billion. The future of the communication sector lies in Internet. Entrepreneurs should grab a pie of this segment and create new values and rules. I am very excited about the possibilities.

SANJEEV BIKHCHANDANI- NAUKRI.COM

Sanjeev Bikhchandanis is a classic story of spotting an opportunity and chasing it with guts, determination, lots of hard work and a little bit of luck. Naukri.com (the company is listed as Info Edge India Ltd on the Bombay Stock Exchange) is India's number one job portal at a time when there is a serious scarcity of employable people in just about every sector of business and industry. It is also an extremely successful dot-com, having weathered the 2000 meltdown. How much better can it get? Naukri's CEO spoke to MoneyLIFE editors Sucheta Dalal and Debashis Basu about the road he took and its various turning points. There are no business people in my family. My father is a doctor and he was in the government from 1950 to 1983. So we were brought up in government colonies. I studied at St. Columbus School in Delhi, so did my brother. There was no business background in the family, no great financial acumen or anything.

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My brother went to IIT, Kanpur, then IIM Ahmedabad and then did his PhD from Stanford. It was forgone in our family that one would do engineering or become a doctor -- the standard middle class aspirations of parents in government service. So I dutifully prepared for IIT entrance, took the exams and qualified. Then two or three things happened. My rank wasn't great. I wouldn't have got the top three or four departments. Secondly, I went for a medical test and found out I was colour-blind -- partially. Thirdly, it was a five-year course. So, I decided it was a better option to go to Delhi University and study economics. Meanwhile, my brother had passed from IIM and he told me not to do an MBA right away because it is useless unless you work for a while. Then Lintas came to college for hiring in 1985. I joined as an Executive Trainee and worked in advertising for three years. They were hiring MBAs as Management Trainees who would be given a one-year training and graduates would be given two years of training and they would be equalized after three years or so. We were actually the first batch of graduate hires. For a year I was in Delhi then I was transferred to Mumbai. I then wrote the CAT and went off to IIM Ahmedabad. Typically, in an ad agency you have this thing about meeting clients and then wanting to be on the other side of the table since an Ad Agency executive is typically at the lower end of the food chain. So I decided I want to be on the other side and in Marketing. I got a job at HMM, which is now Glaxo SmithKline. I was in brand management, handling Horlicks. I was there for a year and a half. But all along, ever since I was in school, I was pretty clear that I was going to do my MBA, I was going to work for a few years and then start my company. This was there since I was 12 or 13. I knew that I didn't want to join government service, after my father's experience, because in government, you are financially very badly off if you are honest. There was no way I was going to be dishonest, because those were not the values we were brought up with. Since I wanted independence, it had to be in a business. This was my dream, a distant goal till I passed out of college and joined Lintas. By then I had decided that I would work for 2-3 years and then start out on my own. So I worked at HMM, came back to Delhi and within a year-and-a-half I quit. I started a company called Info Edge. That is still the name of my company, Naukri is the brand. I started it with a partner and we soon set up two companies, one was for salary surveys and one was a database of trademarks on which we were doing searches. In October 1990, we were operating from the servants' quarters above the garage at home and were paying my father Rs 800 as monthly rent. We undertook trade mark searches. We launched a salary survey in Info Edge and with the money we made from that, my partner had another idea. He said the trade mark registry in Bombay has a library where you can see pending trade mark applications. The government takes five years to approve or reject a trade mark application so if you thought of a brand name today, you apply for it, launch it in six months and five years later if the government rejects your application you are dead, especially if somebody else is already using it before you. People used to hire a law firm which sent out people to do a manual check in the library and assess whether the trade mark is likely to be accepted or rejected. This library is opened to public inspection. So we sent in 20 college students to note down all information filed under pharmaceuticals in all 134 classes. 38

We dumped this data in a computer and we wrote software to search it. We then began to call pharma companies -- there were 5,000 of them -- saying if you are making a trade mark application talk to us. For Rs 350 we give you a printed search report. This was a massive hit. We put the information in a computer. There were no online database searches then. So we said, you tell us what you need, we do a search, prepare a report and send it to you by courier. In 1993 my partner and I decided to go our separate ways. I kept the salary survey company Info Edge and since the trademark thing was his idea he kept that. I moved back to the servants' quarters and started afresh. Over the next three years I kept costs low and made some money. We used to do entry level salary surveys -- what companies are offering MBAs and engineers at the entry level. We would do a report and send it to maybe a 100 companies. It was not customised. It was a standard survey sold at Rs 5,000 to maybe 100-200 companies. As the price went up we sold at may be Rs 10,000. We used to speak to students who got offers usually from top ten engineering colleges. It worked well. When I was in HMM we didn't have offices with partitions like we do today. It was an open hall where you could see, hear and speak to everyone. I noticed that when an office copy of Business India came in, everybody used to read it from back to front. It had 35 to 40 pages of appointment ads in every issue. At that time Business India was the No.1 medium for appointment ads for managers. And people would openly talk about jobs that were available or slipping out of their hands. They discussed opportunities. Nobody was applying, nobody wanted to leave because they were in a comfortable MNC job with good brands, good pay packages etc., but they used to talk about it. From these conversations I figured that even if you are not looking for a job, you look at a job. You are constantly looking for a new benchmark and checking if you are missing out on anything. Also, every week 2-3 head-hunters would call offering jobs. There must have been 100 headhunters out there and each of them probably had four to five clients. These jobs were never advertised because we never saw them in Business India or elsewhere. I figured, what is appearing in the newspapers is the tip of the iceberg. There is a massive market below the surface, highly fragmented and scattered across HR Departments and placement consultants. If somebody could aggregate it, it would be a powerful product where you could somehow make money. I knew this by 1990. When you are trying to become an entrepreneur there are a thousand ideas -- this was one of them. This was only an idea and I knew something would come out of it but I didn't know how. It was just one of a thousand ideas -- file and forget kind of thing. By then I had quit my job. The Department of Telecom had put an ad on the front page of a newspaper saying it was looking for private information providers to launch a video text service, like the one in Paris. They would put up a server. . . I didn't even know what a server was those days. . . and there would be terminals in 45 telephone exchanges and 50 other public places from where information can be accessed for a fee. They said, we want people who will own and maintain the databases and will not charge us anything; but when the user pays we will do a revenue split. I spoke to my former partner and said let's make a proposal where we get jobs from the company head hunters free of cost and put them here and charge 50 bucks per search, so Rs 25 will be DoT's and Rs 25 will be ours. He agreed we put in an application, were short-listed and they called us. We found that around 30 to 40 people had turned up, some wanting to put up tenders, others planning something else. So they said, fine, we have plenty of proposals so now we can move to the next stage and get into details. We got a plan ready, produced documentation and end user schemes with classifications for every industry type. 39

That was in 1991, before the Internet came to India. They approved our proposal and said they will get back to us on implementation. But the project was cancelled. So we had this concept ready in 1991-92 and didn't know what to do with it. But by then I was charged up on the idea and wanted to try it out. We tried franchise models, couriered floppies, etc. We kept getting data but whatever we tried it didn't look like it would work. It was too cumbersome. Meanwhile, I and my partner had parted. This idea came along with me while he kept the trademark thing. In October 1996 I attended the IT Asia exhibition in Delhi which is held every year. Usually at IT Asia they have one pavilion with 100 or more tiny stalls where one always found a lot of interesting things. I saw one stall with www written on it. So I asked this guy what it meant, he said it was the World Wide Web. I asked him what that meant and he said it was the Internet and explained it to me. At that time there was no TCP/IP access, only black and white monitors on which he gave me a demo. He was a retailer, reselling VSNL e-mail accounts. I said I don't want e-mail, show me the Internet. So he took me to a site called Yahoo!, showed me how to search, browse, check other sites -- there was lot of information. I asked him how many users are there in India. He said 14,000. So I said, 'Wow!' I told him I don't want an e-mail account but I want to set up a Web site, show me how to do it. He said I can't help you there because there you need a server and all servers are in the US. My brother is a professor at the UCLA business school, so I rang him up and told him I wanted to start a Web site. I told him to help me hire a server, but didn't have the money and said I would pay him later. We were really struggling financially those days because in 1996, if you recall, there was a recession. He said, no problem, I will pay for it and you pay me when you can. I struggled for 10. . . no, 13 years. I had moved out of the MNC job rather early. My salary was Rs 80,000 per annum. This was decent in 1990 but I was not giving up a Rs 20 lakh (Rs 2 million) job to come to a zero rupee salary. In those days you could not buy a car for three to four years even after you passed from IIM Ahmedabad. I had a two-wheeler. I had not seen the higher salaries so I didn't miss it. What happened over the years when I was struggling is that my friends changed because they were doing different things. They used to go on foreign holidays, visit hotels and bars, which I simply could not afford. Over time, of course, I have re-established contacts. Well, for the first three years, my wife was in Nestle and the company couldn't pay me. The next two years, the company could pay me and my wife was still in Nestle so we were okay. She quit in 1995 and around 1996 I became the Consulting Editor of The Pioneer's career supplement called Avenues. That gave me a monthly cheque; we were not well-off but we got by. By that time my reference group had changed, so I was not seeing what my batch mates were getting. In 2000 when we got venture capital from ICICI, I had been through the second round of not taking salary for three years -- 1997 to 2000. That was tough. During that time my wife was not working, so I had to do a second job. I got up at 6.00 in the morning, dropped her to the bus stop, was in the office by 7.00, worked till 12.00 then would go to The Pioneer come back and work till midnight again. This went on for three years. That was tough, but the thing about doing your own business is that you are probably very happy even though you are not making money, for the simple reason that you are in control of your life and priorities and that is important to me.

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I got over the fear factor in the first two years. I realised that for an entrepreneur the real risk is often a lot less than the perceived risk before you jump. You learn to cope, to manage -- you find your cushions and buffers. But sure, you have to be willing to say that I won't have a fashionable lifestyle, I am okay not buying a big car or owning a house. And it is easy if it is early in your career. So, in 1997 my brother paid for the server and I gave him 5% in the company. At $25 a month he got a good deal for the server. I went to another friend who is a very good programmer and I told him about my idea to start a Web site. I gave him the old file and I asked him to do the programming. Since I didn't have the money I gave him a 7% share in the company. He was a freelancer working from home. Then there was another friend, a year junior to me, called Saroja. She was also doing an independent consulting project. I told her that I am doing a second job in the afternoons and will she be interested in coming in for six hours a day. I offered 9% in the company and she agreed. Then we had some data entry guys and support staff from our other regular business. We went to the Central News Agency and brought back some 29 newspapers with appointment ads. We built the structure of the database and told them to input the jobs. We got a thousand jobs, then I took a floppy to my techie friend and told him here is the menu and the navigation we want and he built the Web site -- Naukri -- in one week. We launched on April 2, 1997. It was a very rudimentary site. If you look at it today it was really embarrassing. For the first six months I did not have an Internet connection. But a good thing happened to us then. We were the first site that was targeting Indians in India. All others like rediff.com, Khoj and Samachar were all targeting Indians in the US. At around that time, journalists in India had begun to write about Internet and were looking for Indian examples to talk about. So we began to get massive coverage. In the first year itself we had two fat files of press coverage and that really helped us. Because we got coverage without trying, we also got traffic. Our contact strategy was very good -- we would always allow you to log on free. Because we were sure that with 14000 people accessing the Net, we had a small base of users and we had to get people to keep coming back. We were doing salary surveys still remember? In year one in Naukri we did Rs 2.35 lakh (Rs 235,000) of business and 80% of the jobs were free. In year two our figures jumped to Rs 18 lakh (Rs 1.8 million) and that is when I realised that we had a serious business possibility here, although I was not able to pay myself a salary. The company was, quite frankly very very stretched even though we broke even. What I did was to shut other parts of the business and all workstations and people were working on Naukri. The next year, turnover jumped to Rs 36 lakh (Rs 3.6 million) and we made Rs 1.8 lakh profit, but that was because I did not take a salary. I was now clear that I would grow to make Rs 50 to 60 lakh (Rs 5-6 million) and then the profit could be around Rs 10 lakh (Rs 1 million) and I could even take home Rs 5 lakh (Rs 500,000). In 1999-2000 we did Rs 36 lakh, but by October we were sure we would go to Rs 40-50 lakh. So we were very optimistic and thought we will do well after 10 years of struggle. Then, around May-June 1999, we began to get phone calls from people saying 'we want to invest in your company, why not take money from us'? We found it surprising, but I said we don't need your money, we are going to break even and are concentrating on profits next year, so please go away. Then we learnt that funded competition was coming in and the game was going to change. Suddenly, I realised, you cannot be a Rs 50 lakh Web site and make a 10 lakh net profit; you will have to be a Rs 5 crore (Rs 50 41

million) Web site and make a Rs 1 crore (Rs 10 million) net profit -- that is the only way you will survive or else you will die, because the game is going to change. Sure enough, Jobs Ahead was launched on the India-Pakistan Sharjah Cricket tournament. We didn't know what the budget was but somebody told us it 'it is twice your turnover.' That is when we called back the venture capitalists and said look we have changed our minds. So they said, sure thing, write your business plan. So we went back to them, the terms sheets were signed and due diligence done and April 8, 2000 we signed the agreement and they cut their first cheque. We got lucky. If we had taken the money six months earlier we would have spent it foolishly. The market melted down around that time. We were the last or second last dot-com in India to get funded. By March the meltdown had started but people did not officially acknowledge it till September-October. They kept saying it is a technical correction. We got the money on April 8th and we just put it in fixed deposit. We had done business for three years and we knew how tough it was surviving on the Net so when the market crashed we knew it was a real crash. We knew of it six months back because we were in the business so I told ICICI that this is a real crash, we have to build the business slowly. ICICI, to their credit, never ever asked us for revised valuation and did not hold back subsequent tranches. For whatever reason -- I don't know what their thinking was and why us, but the fact is they gave us the final cheque at the same valuation a year and a half after April 8th. We began to invest in servers, technology, people, products, sales offices and we began to focus on growing the business -- not just by spending but through better products and a feet-on-the-street approach. Around this time the IT meltdown began. This was in November 2000. Then 9/11 happened and although we continued to grow, we were very scared. There was a time when we had only two years of money left. And then slowly the revenues caught up. We made two years of losses and then we broke even and made a one crore profit. Going forward, we see there has to be solid emphasis on product and technology so in the last two years we have invested a lot in these and will continue to do so. We need a lot of innovations and scaleable technologies because funny things happen when traffic suddenly goes up. It is easy to run a Web site when there is low traffic but you are really tested when traffic goes up. Does your application still perform and your service still deliver? You don't realise that until you face the problem. We have invested a lot in scaleable technologies, in new products and features and in bringing mobile and Internet together as well as voice and SMS. In our scheme of things, the first priority is the product, the next is the brand -- we spend a lot of money on advertising both online and offline. The third is the sales force and sales network in order to sell. We have 400 sales people all over the country so we can reach many more companies and service them better. There are two publicly available sources of checking who is bigger. One is Alexa.com where you can check out the traffic of various sites. The other is a paid site called Matrix. As per Alexa we got over 75% to 80% share of job traffic in India and according to Matrix we got between 60% to 65%. In terms of revenue share -- we roughly estimate that we have around 55% of the market. But the metrics we really look at is how many CVs we are adding everyday, how many applications are going daily from our Web site? On all these metrics we have no competitive data but we estimate we are ahead by 30% to 40%. 42

Times of India obviously is a big company with a huge print presence and they are able to support their online presence through print. However, so far we have not been challenged in our market share or traffic share. I think with online media a lot depends on your product instincts and qualities. How fast is the site? How many CVs do I get? How many finds do I get? We are in a situation where it is very easy for the customer to evaluate competitive offerings because you can measure how many responses you get and how many you hire. Yes, some people are looking for jobs, some people are just looking around. While you can browse through the site we do have an issue about the window shopping experience for passive job seekers. We recognise that. A newspaper goes into the house for some other reason and you see jobs there. You don't have to make a separate effort. What we are able to do with technology is that if you register your resume with Naukri, the headhunters will call you. But newspapers have a massive reach within the city on a given day. So if you are doing a walk-in interview, thousands will be walking in, after reading a newspaper ad. But then the Net is not expensive and will deliver results over a week, ten days or two weeks and it will deliver the results from all over the country. So, it is not as if the Net will replace print, it's just some of the stuff which is going into print will rather be on the web. Besides, employees can themselves search nearly 2 lakh (200,000) job listings -- they can search, they can browse, they can set job alerts -- there are a lot of things the Net can do that print cannot. As of now, Naukri accounts for over 80% of my turnover. Jeevan Saathi and 99 acres are plays for the future. If you look at our strategy there is a pattern. We started with Naukri -- a classified listings kind of business, a database search kind of business. The market structures of the other two are very similar. There is big market in print, there is a segment which is run by consultants, there is an intermediary in the market -- a placement consultant, there is a job seeker, there is a final employer. We are creating a platform. Our job is to enable a handshake and we are charging for the prospect of enabling a handshake. Jeevansathi.com is similar. There is a large print market, there are two parties who frequently use the services of marriage brokers. So again there are similar players. It is the same in real estate. So we have actually gone after markets which are very similar in structure and are financially viable in print and hence not risky. So we expect to do well, but don't know how well. Jeevansathi is the No. 3 matrimonial site in the country; when we bought it in September 2004 it was distant No. 3 and now we have narrowed the gap substantially and I think we should be No. 2 in the not too distant future. For 99 acres, there was nobody else of any significance so we launched in August 2005 and we are No. 1 already. May be they were too early in 1999-2000, may be their strategy was different from ours, maybe they were not neutral platforms, may be they did not aggregate enough content. We have 55,000 listings on our site right now and have a whole tele-calling team which calls up brokers asking for listings on the phone and give them free trials. So it is a question of intuition also. The basic funda is the Naukri funda -- we have got the most jobs so we get the most traffic, we get the most traffic so we get the most response, we get the most response so we get the most clients, we get the most clients so we get the most jobs -- it is a virtuous circle like in any other media market. It is the same in newspapers and the same in Jeevan Sathi or 99 acres. I would say that frequently the perceived risk is lower than the real risk but nevertheless you should understand the risk and try to reduce it. 43

It is a myth that entrepreneurs are not risk averse. I must be the most risk averse person I have met in my life. I am really scared of risks. The point is to keep de-risking at every opportunity. So first, I did not quit my job until after I got married knowing there is income in the house. I began to teach on weekends. If I had been single, or my wife was not working -- in fact she was the fist angel investor -- it would have been a lot more difficult. I may not have done it. These were all de-risking strategies. When you start out you don't know where you are going to end up. When we launched Naukri and you had asked me what is your vision I would say there was no vision. All I thought was, if I get a thousand companies to pay me Rs 500 a month to list a job and this would be every month I can do a Rs 60 lakh (Rs 6 million) turnover in three years time I will multiply the turnover of the company five times, that was the opportunity I felt. Somewhere down the way this dot-com thing happened, then venture capital happened, the meltdown happened and if somebody had told me that I would do a Rs 84 crore (Rs 840 million) turnover five years from now I would say he was joking. Our projection to ICICI in our business plan was Rs 25 crore (Rs 250 million) for this year. So a lot of things are also unpredictable. I think there is lot of growth left in the company, there is more business that we can do. I think that there is a lot of improvement to do in product and technology to make it a world class company. I don't see us diversifying significantly outside the Internet, at least as of now. We are not evaluating a fourth portal. The reason is we want to at least make sure that Jeevan Saathi breaks even and makes a profit. If we were only in Naukri and Quadrangle -- the recruitment part of business -- our pre-tax profit would be about Rs 28 crore (Rs 280 million) just last year. So we don't want to spread ourselves too thin, particularly from the management point of view. In our business, the constraint to growth is not money but execution and leadership. How Naukri.com became a hit Sunil Jain in New Delhi | December 14, 2005 Luck. It's a thought that keeps coming back while hearing the story of how Sanjeev Bikhchandani built Naukri.com into the country's largest web-based employment site, ahead of even Monster.com's India offering which got stronger when it took over JobsAhead.com or print-giant Times of India's employment site. Or is it that entrepreneurs like Bikhchandani recognise opportunity while the rest of think it's just happenstance. We're at the recently-opened Piccadelhi in Connaught Place's Plaza cinema complex, styled to resemble the London locale right down to the park-style benches and bus in the middle of the restaurant and doormen with the red coats and bearskin hats made famous by the Buckingham Palace guards, but it's too noisy to hear a long story which Bikhchandani is primed to tell. So we walk down to DV8, which is what that the 1970s hangout disco, the Cellar (which later became El Arab) has now morphed into. Lunch is quickly ordered. No booze since neither of us can down two in the afternoon without feeling groggy; it's a very hot chicken goulash soup with some crispy veggies for starters and grilled fish for both of us. Bikhchandani's story, or the salient parts of it, are, of course, pretty well-known by now since parts have appeared in various newspapers including this one as well as in a case study prepared by a professor at the IIM Ahmedabad. For the record, Bikhchandani quit a lucrative management job at Glaxo Smithkline (where he earned "Rs 8,000 a month with prospects") to start off his own jobs venture since he saw colleagues queuing up all the time to look at 44

the appointments section of Business India magazine - "you're always looking at a job, even when you're not looking for one". He started off his company doing the odd market surveys and feasibility report, but the company was too broke to pay him, so the house was looked after by his wife who worked with Nestle. He taught management over weekends at various places like the Times School of Marketing, management school IMT and at the IMS coaching classes - to earn around Rs 2,000 a month, "enough for booze and cigarettes since I didn't want to be a fully-kept man", he says with the practiced air of a well-told story. In between, for four years, he got a job as a consulting editor of The Pioneer and ran their careers supplements, something made possible through chance meetings with the editor Chandan Mitra - later, as Chandan bought the paper, Bikhchandani helped him restructure operations to cut costs. In 1990, or thereabouts, the department of telecom came out with ads launching a video text service and wanted content providers. Bikhchandani got staffers to reword job ads from various newspapers to create a jobs database - a lawyer told him there were no IPR issues as long as the words were different! - and had a readymade database. However, the DoT project never took off. In 1996, at a visit to IT Asia at Pragati Maidan, Bikhchandani saw a stall with a "www" sign and got his first exposure to the net and what it could do. The forgotten database suddenly looked useful, so staffers began combing 29 newspapers to build it up - the recession of the mid-1990s, in any case, resulted in staffers having nothing to do. His brother was given a 5 per cent stake in Naukri for offering to pay $25 a month to a web-hosting firm, the "best programmer in the world". Anil Lall was given 8-9 per cent for learning net-programming and doing it, and another friend V N Saroja was given 9 per cent for running the company. 'By now I'd given away around a fourth of the company, but a fourth of zero is still zero!' The model worked, and while VCs began calling, Bikhchandani turned them down, till in 2000, JobsAhead launched and advertised in the Sharjah cricket tournament with an ad budget greater than Naukri's turnover. Naukri gave ICICI Ventures 15 per cent for Rs 7.3 crore (rs 73 million), just before the dotcom bust. Last year's turnover at Naukri, all from fresh ads (not from rewording of print ads!), was Rs 45 crore (Rs 450 million) with a profit of Rs 8.4 crore (Rs 84 million). What's the way forward? Sure, running a company of 775 people across 30 offices is a nightmare, but how is Google's Googlebase or Yahoo! Hotjobs affecting Naukri? Bikhchandani's now thinking smart, and you realise his success has a lot less to do with luck. He will, he says, put out all his 80,000 job ads on aggregators such as Google and Yahoo! (this will give his clients a larger response level). Isn't Naukri dead then? Not really, he argues, since his search algorithm will be a lot more robust than the "single box searches of the US". Once you aggregate various databases, like Google will do, you can't do searches with very detailed criterion like a job in Delhi in a FMCG firm as a general manager for someone with over nine years of experience, for instance. In the last year itself, Naukri's changed its search algorithm 20 times to take into account changing needs of the client base. Bikhchandani's on a roll now, with strategic advice coming forth faster than I can handle. Business Standard, he says, should have a separate desk for its web edition, reword the news got from various agencies like PTI and Reuters (basically, once you put out 50-100 stories an hour, you get huge traffic) and run Google ads along the side to get revenue. He says the media war in Mumbai needs to be re-targetted and newcomers like Hindustan Times and DNA (along with others like Mid-Day and The Indian Express) need to offer combined ads to clients since this will equal the 45

Times of India's reach (his Lintas days recall that clients pay for reach first, and worry about costs later) and will force the Times to lower ad tariffs and so hit its ability to take on the market so aggressively - better to target the Times' market he says than to compete for just the non-Times segment! We wind up with Bikhchandani saying he admires the Google Consumer Surplus model. Groping into the past, I vaguely recall Consumer Surplus is the extra you'd have been willing to pay for something, but how's Google getting this? By getting advertisers to bid for keyword searches - if a florist pays for a keyword, everytime someone searches for flowers, this florists' name comes up first. I leave a bit groggy, not quite sure how this fits into Naukri's business model. It does though, I'm sure. How I made my 1st million: naukri.com CEO Sangeeta Singh | July 23, 2005

With a bachelors in Economics from St Stephen's, Delhi and a diploma in management from IIM (A) and a stint with advertising and GlaxoSmithkline (then HMM), Sanjeev Bikhchandani, cofounder and CEO, InfoEdge (India), better known by its Web site naukri.com, is today sitting over a business worth Rs 45 crore (Rs 450 million) with 600 employees and 35 offices all over the country. The GlaxoSmithkline days It was during my stint with Glaxosmithkline (then HMM) that I realised that employees love talking about jobs and career movement. I realised jobs are an extremely high interest information category for almost all people and headhunting had tremendous potential. First taste of entrepreneurship I started out as a partnership firm in 1989, where I was a sleeping partner. By 1990 I had concluded that there was probably a large, highly fragmented database of jobs out there with HR managers and headhunters which, if someone were to aggregate and keep current, would be a very valuable resource. We set up office in the servant's quarter above the garage in my father's house, paying my father a rent of Rs 800. For the first few years we did salary surveys and built and marketed a database of pharmaceutical trademarks. Though the company was kept afloat, I was unable to draw a salary and we ran the house on my wife's salary. To meet my personal expenses, I would teach at business schools as visiting faculty on weekends. It was in response to a Department of Telecom's (DoT) advertisement to launch a videotex service in Delhi that I prepared a database of jobs. It was a pay-to-view model, where initially the employer would be allowed to host his job free and we would earn from the revenue share the DoT would give us. But the project never took off. Turning point It was on my visit to IT Asia in 1996 that I came to know of the World Wide Web. To register my website and get a domain name, I had to take help from my brother, who lived in the US and has a stake in the company. The naukri.com site was set up in March 1997 as a division of InfoEdge. What was interesting was that I could not get any domain name I wanted (all such names which had the word job were already registered) and had to settle down with the Hindi term "naukri", which actually makes it different 46

from other jobsites today. At this point I was joined by Anil Lall, the chief technical officer and V N Saroja, chief operating officer. Dual responsibility With the recession, I had to take up a part-time job, but in the same domain area. Between 1996 and 2000, I also worked at The Pioneer. Initially, the consulting editor of Avenues -- the careers supplement of The Pioneer -- I was instrumental in working out an investment package with a consortium of four financial institutions -- ICICI, IDBI, IFCI and UTI. In the morning, I used to work for naukri.com, go to The Pioneer during the day and then get back to naukri.com in the evening. Reaping fruits of success Naukri.com became profitable from the second year. Today, we have a profit after tax of Rs 8.5 crore (Rs 85 million). It was now time for expansion. InfoEdge aquired Jeevansathi in September 2004. Besides, we have an offline recruitment business through our venture Quadrangle. Today, naukri.com gets over 100 million page views a month and has over 3.5 million registered users. It is estimated that over 700,000 people have found jobs through naukri.com. Over 15,000 organisations have used the site for recruitment. In August-September we intend to launch a real estate portal. The site had a revenue of just over Rs 200,000 in the first year of operations. In the second year, however, revenue quickly climbed to Rs 1.2 million. I made do with my own finances till 2000, when I got funding from ICICI Venture Capital. So far, we have taken only one round of venture capital of Rs 7.3 crore (Rs 73 million).

SATISH MAGAR- Magarpatta

Satish Magar is an interesting combination he comes from a political, land-owner background but had an urban, Western education. He then opted for agricultural college, but went on to find a unique way of extracting full value from his ancestral farmland by converting it into a model township through a longdrawn process. His model is inclusive, allowing landowners rather than developers to benefit from their land holdings. In the process, he converted traditional farmers into entrepreneurs. In an interview with Sucheta Dalal and Debashis Basu, Satish Magar speaks about his long journey on what often seemed like a road to Utopia.

Can we start by asking you about your family background and the early influences of your life.

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I come from an agricultural family with a political background. My grandfather was in politics, my eldest uncle was an MLA for 25 years and later a member of Parliament when he died and my mother's father was the first mayor of Pune. So, there was politics everywhere in the family. All of us stayed together in a large ancestral house right here. Along with politics, education was very important to the family. My father is a graduate of the Pune Engineering College. My uncle, who was an MP and founder of the Pimpri-Chinchwad area (the country's richest municipality), was a graduate in agriculture. My grandfather was very progressive and wanted all his sons to study. At that time, it was the Brahmins who were more focused on education. So he had an interesting idea. He put up his sons in Shaniwarpeth, a predominantly Brahmin area of Pune, so that they would be more focused on studies and not think of themselves as landlords. There was little contact with the farm except during the holidays. When it came to my education, I was initially sent to what was called a Cambridge school; all of us including all my cousins went to Bishops Cotton and St. Mary's, which were the two best-known Christian, Anglo-Indian style schools in Pune. In effect, although we were farmers, we got a Western, urban education. Since you were exposed to politics from such a young age, did you see politics as a career option? No, politics was not an easy option because it was not a business of inheritance. In fact, by the time I graduated, my uncle had expired. He had been a big influence. He became an MLA in 1952 in the first general election when he was in his early 20s. He was an MLA for every term thereafter till 1971, after which he became an MP. He was a very progressive thinker. He is the one who conceived of the Pimpri-Chinchwad Municipal Corporation and he was involved in the conception and growth of Maharashtra Industrial Development Corporation. Pimpri-Chinchwad, which was a part of his constituency, emerged as a thriving industrial area with 150-feet wide roads lined with trees, thanks to his vision and strategy. He used to talk of planned development and commissioned master plans. He was also one of those who created the Gultekwadi market area of Pune in the 1960s -- it has a central open space with the vegetable market in concentric circles. The idea was somewhat like Connaught Place of Delhi. He got a model made to illustrate his idea, which was also unusual those days. I found it all very fascinating. We made a similar model when we created Magarpatta. So, those early influences stayed with me. What about your father? Was he in the construction business? He was an engineer and started out as an apprentice with BG Shirke, Consulting Engineers. He then started his own civil construction firm. My grandfather was very strict about where he could bid. My father could not bid for work in any of the institutions headed by my grandfather. He did lot of defence-related work. After 1971-72, he came back to look after the farm because we had large holdings that my uncle was not able to manage on his own.

What was your early ambition? Because of the influence of politics and seeing many top leaders from close quarters, I was inspired to do the things they talked about. I had decided that I would either do medicine or join the agricultural college. In 1971, when I was in the 8th or the 9th standard, Mrs Indira Gandhi had just won the Bangladesh war. 48

Our family had been close to the Congress party for decades and we were naturally highly charged by her vision. She talked about green revolution. So agriculture looked very promising. I joined the agriculture college in Pune, probably the oldest one in the country. I don't know if there is any other instance of someone going from Senior Cambridge to an agricultural college! I went to stay in the hostel partly because the college was far from our house and also because my parents felt we should learn to do things by ourselves and to live with kids from different backgrounds. The agricultural college and my hostel days turned out to be one of the most fascinating experiences of my life. It was a turning point. In what sense? It brought me down to earth. I got to know the ground reality of India. Some 80%-90% of the students were from rural areas. Remember, television had barely come in and I found that I knew almost nothing about the kind of background that my batch mates came from. Most were from small farming communities and had studied in vernacular schools. One was the son of a farm labourer. They knew they had to study hard, survive and get through. Getting educated was very important to them because agriculture could not give them a livelihood. They wanted to get a job in a bank or a government office. They used to save on everything. Most of them used to attend college in pajamas and shirts. There were four or five of us from English medium schools who initially felt superior to them. The rector of our hostel told us, 'Don't laugh. After six months, these boys will have mastered English and will overtake you'. The way these guys worked to overcome their drawbacks was an eye-opener. Another interesting aspect was the student mix, which included some students from Nagaland who were much older than us and were sent by their government to study. It opened my eyes to what India is really about. What did you do after you passed out of the college? Did you want to apply your knowledge of agriculture to farming? I will come to that. Let me first tell you about how the minds of these students worked. They understood something important very intuitively. They said, if you wanted to succeed, you must have a presence in politics because the political system controls everything, or you have to be in the bureaucracy or in finance. So, they constantly discussed these three fields (politics, bureaucracy and finance). Many of them eventually joined banks, which had been nationalised then and were expanding into rural areas. A bank job was seen as access to finance. Some opted for the Maharashtra Public Service Commission (for which agriculture was a compulsory subject because several postings were in rural areas). Finally, some students came from families that were deeply into politics, like mine. I had restrictions on joining politics but Mr Balasaheb Vikhe Patil's son, who studied in the agricultural college when I did, joined politics. That people planned their lives through these three angles was a revelation; I had never thought this way since I was city bred. Of the 180 students in my batch, almost 70-80 got through the MPSC; some became IAS officers. Many joined banks and are now in senior positions. What did you do after passing out of college? I wanted to come back to the farm. But my urban upbringing started coming in the way. I had a friend who had a small shop on MG Road in Pune who earned more than us with 150 acres of land. Agriculture is completely dependent on external factors -- monsoon, market, logistics, etc. 49

I used to calculate how much we would earn if we could sell the land and put the money in the bank. I tried different things. We had a large dairy of 150-odd cows, with modern milking machines, etc., but one agitation from somewhere and a protest call to throw the milk on the streets caused great damage. It was senseless. You throw the milk today and how do you feed the cows tomorrow? So, agriculture was not working out. Meanwhile, my brothers and cousins were growing up and they needed to be accommodated. Then, the development plan of Pune in 1982 made me really insecure. What was this plan? The Magarpatta area is part of the Pune Municipal Corporation from 1960 onwards, even though it was in the agricultural zone. The 1982 draft development plan showed it as future urbanisable zone. Under the Urban Land Ceiling Act, the government could easily acquire this land; then what would we do? We lobbied with the government; although my uncle had expired, we had political contacts and in the 1987 plan they identified this land as agricultural. But I knew it was temporary, as the city grew, this land too would be acquired someday. In 1985, three of us friends started a marketing firm. One of us had an office in town and the other was from Johnson & Johnson. We started as distributors for consumer durables and some consumer products. Looking back, that experience taught us a lot. We learned to create differentiation in the marketplace, and recover money from the government. After a few years, we realised that distribution of consumer durables required a showroom; since we did not have one, we knew the business would not work in the long run. After 1987, when the Magarpatta area was redesignated as agricultural land, we started a real estate development company. So, when was Magarpatta the township conceived? After 1987, a lot of farmers started selling small plots of land to developers. The government had no mechanism to stop it, no will to demolish it. We were constantly thinking of how to develop our land. We looked at selling bungalows. But it was neither legal nor profitable. Then we thought of making a golf course with villas around it. But it was not only a waste of land, but a big risk. Some time around 1993, it suddenly struck me, why don't we do a township. I went through the Regional Town Planning Act and knew what the requirements were. I spoke to all the landowners in the surrounding areas. For historical reasons, there was a lot of cohesion and harmony among the farmers, arising out of fragmented holding. When a piece of land is divided among the brothers, they divide it in such a way that both get access to the road. So, over time, many plots ended up divided as narrow strips of, say, 20 feet wide and 1000 feet long. Because of the peculiar layout, people did their farming in harmony and cooperation by fixing dates for sowing or harvesting serially in order to economise on labour and equipment. I knew all of them very well since I had done agriculture for five years. When I started planning the township, I told them, we need to do something with the land; otherwise it will be acquired someday. Many had stories of relatives who sold off their lands, blew up the money and had nothing left. That is when I suggested doing something together. We had a meeting of all the landowners where I suggested that we pool our land into a development company and accept proportionate shareholding. The idea was accepted although I did not know how the whole thing would finally evolve. I went to Hafeez Contractor and told him 'this is what we have, we want to do a township'. He agreed. We made a detailed report of the area we wanted to build on, how much to reserve for education and how much to earmark as 50

open space. Mr Sharad Pawar was the chief minister and we presented him a nice laminated report, printed on an electronic typewriter with graphs, charts, statistics and pictures. This came from my marketing experience. He asked us "Are you serious?' We said, 'Yes, we are'. He asked 'What are you going to do about urban land ceiling?'. We said, 'we would not ask for exemptions'. He wrote something on the file. One day, I got a call from the government to discuss the plan further. Mr DT Joseph was then Secretary, Urban Planning. We were also very fortunate to have a close relationship with Mr BG Deshmukh, who had just retired as the Cabinet Secretary. We met Mr Joseph through his help and told him how 120 farmer-families have come together to do something different. He was apprehensive. Since I had read the law, I said 'We need notification under Sec. 154' to get the scheme sanctioned. He said, 'Fine, if you know the CM get it done. But let me tell you, it can be challenged by anybody in High Court and you will lose'. Who would file a case? Anybody. Any competitor could have filed a case. With 400 acres of land coming out of agriculture for residential construction, we would have had numerous enemies. Mr Joseph said 'we would have to go through the procedure and it will all take time'. I said 'Fine, we will go through the process.' In any case, we were not ready physically or financially. What was this process? Mr Joseph came and spoke to the landowners personally. There was a report required from the town planning department, a report from the Municipal Corporation, then the government had to issue a notification which had to be passed by the general body of the Corporation. Then there was public hearing. We decided not to jump a single step of the process because if there were a court case, that would be the end of it. We went to opinion leaders asking them to support us because such townships would reduce unauthorised growth and create a lot of greenery. All this took time and by then BJP-Shiv Sena government came to power. But they did not interfere and we got the final notification in 1995. That was precisely the time the real estate sector went through a big slump. Didn't it make you rethink your plan? What was our choice? We were already committed and had already announced the Rs 400-acre township. There was no going back. During our planning process, we also spoke to a lot of sensible people outside the real estate industry to consult them on the elements that must go into this project. Many elderly people used to say that the apartment complexes are making us compartmentalised and nobody knows who their neighbour is. Satellite TV had just come in, which made things worse. This is not the way the Indian society has grown. If you see the chawls in Mumbai, they all look into a central open space on the inside. I visited several chawls in Girgaum (Mumbai) with my architect to see how we can incorporate the neighbourhood concept. If you see our township, although it is a cosmopolitan set up, all flats open to a central space, as in a traditional neighbourhood. The residents may pass each other for 10 days without speaking but on the 11th day they will at least smile. When we started building, the concept of Vaastu Sashtra was beginning to get popular. We called the open space Brahma Sthal. For us it was a way of providing good light and ventilation. Since all this was happening for the first time, where did you get your ideas? We consulted experts for each and every aspect. We had a lot of time on our hands since the project was taking its own time to get all the clearances and funding in place. 51

We met many people and attended all sorts of seminars. Around 1997, a delegation of Maratha Chamber of Commerce & Industries (MCCI) was going to San Jose, which is similar to Pune. My architect and I joined the delegation. Almost all the people there were in IT -- venture capitalists, entrepreneurs, lawyers, etc.; we were the only odd ones out. We went around looking at their townships, city centres, visited their planning department and saw how they organised their space. In San Jose, Santa Clara and surrounding areas, there were large corporate-cum-residential areas where people cycled or walked to work. We decided that we would not re-invent the wheel. We will take the best ideas from all over and create a plan that is best suited to our needs. San Jose was great -- a lot of greenery and people walking to work -- but the whole thing was unstructured. You had an IT building, some houses nearby then some more corporate offices further down. We felt we could improve on that plan. We also decided to avoid numerical addresses. We will not have Sector 6, 7th crossing, 8th lane, 9th building, 10th flat. It is totally materialistic, there's no life in it. But most of America is laid out like that. That's because it is a new civilisation. We are a 5000-year old civilisation. We talk of Mohenjodaro and Harappa, brilliant examples of town planning. I picked up ideas from all sorts of people. For instance, in one of the IT seminars, I heard one Dr Hebalkar speaking. Dr Prakash Hebalkar of Profitech? Yes. He was giving a presentation to MCCI. Mr BG Deshmukh was part of MCCI and we got to know Dr Hebalkar through him. I went to him and said, 'I am doing this township project and I would like you to be our consultant'. He said 'I am very expensive'. I said, 'we know nothing of IT, we want you as our consultant on the IT Park.' He told me 'first of all get an email ID'. But Pune didn't have Internet connectivity. So, we opened an Internet account in Mumbai, that is how I have a Bom5 email ID, which I have kept for sentimental reasons. We used to make long-distance calls to connect and it used to take ages to get access. Anyway, Dr Hebalkar was a great help on the IT front. He taught us the importance of bandwidth, routers, switches, etc., and advised us to opt for fast connections. We went to Dr Vijay Bhatkar (MoneyLIFE, Nov.9 issue). He said 'What Dr Hebalkar is talking of is the future, it is going to happen.' We went to VSNL. They said, 'you have to put a cable and it will cost so many crores of rupees.' Fortunately, by the time we started, the whole bandwidth scene had changed. Dr Hebalkar used to say, 'This is going to happen; prepare for it so you will have a first-mover advantage.' Which other experts contributed to the development at the ideation stage? Ravi Paranjape, the renowned artist, told us that the complex must have some themes. He suggested we use the concept of the five forces of nature, which Indians have always worshipped. We have incorporated this idea, although it is not fully implemented. Then he suggested we have plantations, based on the nature's cycles, the idea of Rituchakra, so that there are some blooms at all times. We took help from Ram Takwale, vice chancellor of Pune University who advised us on education. What did you do about finance? We had very little money to hire consultants. We knew Mr Kshirsagar, who had retired as DGM from HDFC. He told us that HDFC was the best financial institution in the country and very clean in their dealings. 52

So, you went and met Deepak Parekh? I took the help of Mr Kshirsagar to meet Mr Parekh and told him we need Rs 100 crore for this project. He asked us: 'How will you service the interest?' We had no answer. He asked 'Do you think you can sell so much in 2000?' No answer. Then we said, 'we will manage'. He asked 'Do you know what you are talking about? How many flats you are going to build?' I said 'about 10,000 flats'. He said. 'That means you want to construct 2000 flats a year? And what is the market?' We said, 'We want to try. We will work very hard'. Finally, he said, 'I am convinced this is a good project. I will give you the money but I will start with Rs 2 crore. I will fund your infra-structure. You start with the bungalows, start marketing them, you will get your cash flow going and you will see that you will not need so much of money.' Did that happen? When did the work start? We started construction in March 2000 with a residential block of 72 apartments. We also started working on the commercial area, which is generally the magnet for townships. At that time, IT was hot so we planned for an IT Park. We felt that there would be a time when a lot of people would want to come back, work and live here. Did you start with the bungalows as Mr Parkeh suggested? Yes, but I was in a hurry to prove myself. The farmers had stayed together and waited for seven years to see this project so I also started a couple of apartment blocks. Where did you get the money to fund that? Oh, we were very stingy on our expenses. We hardly had any overheads, one small office, not charging anything to the company, the farmers with tractors were shifting the soil. We were doing everything ourselves. That was our second aim. Make the second-generation farmers our partners in the development process. We remember that everybody used say 'Magarpatta is a great plan, but will it work'? Did you get the same reaction? Absolutely. In 1997, I showed this plan to someone in the US and he said, 'great, when will it start working?' What was your belief? Were you confident it would work or just hoping for the best? Probably I was overconfident. I had the confidence of all the landowners who were with me. I had faith in the concept. Magarpatta had not bought the land. We all pooled our land into the company. That was the strength. Around 1999, we were reading lots of stories of venture capital-funded tech companies commanding huge valuations. We said, we are like venture capitalists with the land as our stock. We will have to make the right product and we will get the right valuation. Did the other farmers get restless about when they would see this valuation? We had a system where 30% of the sale proceeds was treated as the land cost. The higher the selling price, the greater is the embedded value of the sale. I told them if we sell land, we will get Rs 80 a square foot. When we were ready to sell, the apartment value in the surrounding area was Rs 600.

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We started selling at Rs 1000, of which the landowner was getting Rs 300. We had explained this logic well in advance. So he preferred to wait. The second factor was getting the second generation involved in the whole effort. In the seven years that we waited to get going, we trained the farmers in different activities. All those in the 18-30 age group used to gather in this office every Sunday and discuss what each of them could do. Some wanted to do landscaping, somebody else road building, etc. We also gave them aptitude tests to see who is good for what. When we started doing the actual work, the farmer who moved soil with his tractor was getting Rs 750 a day. As a farmer, he had never made that kind of money. We saw to it that somebody from each family was involved in construction-related work and made money from the project continuously. Mind you, not as an employee but as a businessman. After all, he was the owner of a piece of land and although he was now a shareholder, he did not work for the company as an employee. We took that sensitivity into account. How did others react to this model? Many did not believe in it. One banker told me that this is impossible. How can farmers come together and execute a 400-acre project? None of the advertising agencies from Pune wanted our work; they probably felt we would not be able to pay them. So, I contacted a college friend who had gone on to IIM, Ahmedabad and had set up an advertising agency in Hyderabad to do my logo and other things. So what is the best investment you have made? Two things. One, the creation of second-generation land owner-entrepreneurs and two, Cybercity Magarpatta -the IT Park which is an asset for the landowners. We created the idea of property for property. The land was valued at Rs 400 crore when we started. We said we will create property worth Rs 400 crore to start with which will fetch much higher returns than what the farm is yielding. That is why the Cybercity Park was not sold and kept within the company. It gives us a steady stream of revenues. One of the biggest spinoffs of the whole scheme is the creation of a whole generation of entrepreneurs who are no longer dependent on the land. We have our own subsidiary company to run broadband, cable TV, the transportation system, the food supply company as well as landscaping, etc. A person who owned an acre of land, stays inside the complex, starts interacting with neighbours; their children go to an excellent school and to Nandal Bal tennis academy. Of the 280 landholders who run some business or the other, 200 are under tax audit. That means they have an income of at least Rs 40 lakh a year. Together they must be paying Rs 10-12 crore of taxes every year. I think this has been the best part of our investment. You have created several small companies to take care of different needs of the townships. How do you ensure quality? Can you tell your farmer-turned-shareholder who owns the business that his quality is not good enough? Well, when something is successful, everything falls in place. I guess they listen to me because I have not failed. It is also clearly understood that the company gives them preference but not priority. So what next? Are you replicating this model? We are trying to replicate this model in two places. In those projects, Magarpatta Company will take a 51% stake and 49% will be held by those landowners in proportion to their landholding. Plus they get a share of the revenue. The big attraction, of course, is that they have a chance to transform their lives. 54

Now that the word of Magarpatta's success has spread, farmers make a tentative plan, take a form from us in which all the family details and landholdings are filled in, create a whole file and say, 'here are 150 acres, make a township for us'. Really? Are there many such proposals? Yes. There are five groups of farmers in the queue. Are other builders showing interest in this model? A lot of people are talking but most developers want outright purchase of land. They do not talk of sharing. And I believe that if we are doing a successful business, it is the model that is working. Our township has acted as an agent of social change through a policy of inclusion. That is the way I want it.

ARVIND N LALBHAI- 'Denim King'- ARVIND MILLS

Arvind N Lalbhai may not have been the poster boy of the textile industry, but in a lot many ways he was truly one. In the mid-1980s, when the textile industry was facing a major crisis - with powerlooms churning out vast quantities of inexpensive fabric, many large composite mills lost their markets. But Arvind Mills saw its highest level of profitability at that time under the stewardship of Lalbhai. Lalbhai, who passed away on Friday at the age of 89, was managing director from January 1975 till November 2002.

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During these years, he spearheaded the growth of the company from a manufacturer of high-quality fabrics to one of the foremost textiles companies with a dominant play even in the global textiles arena. In 1987-88, Arvind entered the export market for two sections: denim for leisure and fashion wear and high quality fabric for cotton shirtings and trousers. By 1991, Arvind reached 1600 million meters of denim per year and it was the third largest producer of denim in the world. His son Sanjay has taken this a step further, setting up world-scale garmenting facilities that offer a one-stop shop for such major international customers such as Marks & Spencer. Today, Arvind is synonymous with brands such as Flying Machine, Newport and Ruf&Tuf in jeans and Excalibur in shirts, as well as reputed international names such as Arrow, Lee, Wrangler and Tommy Hilfiger, which the company retails in India. Born on April 3, 1918, Arvind Lalbhai graduated in science from Bombay University and joined Asoka Mills. He became chairman of Asoka and was in that post for three decades. He was on the boards of several other textile mills and some companies producing dyes and chemicals, engineering, glass, paper and rubber. He also served on the boards of the State Bank of India ,Gujarat Financial Corporation, Gujarat State Warehousing Corporation Ltd, and several other textile and business associations, including the Federation of Indian Chambers of Commerce and Industry in 1981-82.

Grandhi Mallikarjuna Rao- GMR INFRASTRUCTURE

From commuting on a cycle to building global airports 56

Close to three decades ago, when people saw Grandhi Mallikarjuna Rao cycling 25 kilometres everyday around his village in Andhra Pradesh collecting money for the farm poduce he had supplied, they never thought he would one day own the first Indian company to develop an international airport. On 10 July 2007, GMR Infrastructure [Get Quote] bagged the contract for an international airport - the Sabiha Gokcen International Airport in Istanbul. Along with its Hyderabad airport partner, Malaysia Airports Holding Berhad, and Limak, a construction company in Turkey, the group will build an international terminal in the Euro 400 million development project. GMR's stocks jumped nearly 7 per cent, touching a 52-week high after the deal. But this global foray is only an extension of GMR's dominance in India, where it is the only developer handling two airport development projects. There is the greenfield Hyderabad international airport, which will open by March 2008 and handle around 12 million passengers. It will also be fit to handle an Airbus A380, a vision Rao had seen years ago. The story behind GMR's success Two, the Rs 8,000 crore (Rs 80 billion) development of the Delhi airport, which, a year after GMR took over, is acknowledged as the fastest developing airport in the country. The airport will be able to handle around 37 million passengers after the first phase in 2010. GMR is setting up "aerotropolises" around both airports for premium and business hotels, convention centres, golf courses, and so on. GMR has already invited bids for building hotels on nearly 40 acres of land around Delhi airport. An MRO (maintenance, repair and overhaul) facility with Lufthansa Tech at the Hyderabad airport is also on the cards. For Rao, it has been a long journey - from handling a jute mill to doing global infrastructure projects. The turning point, self-admittedly, came in 1985 when Rao became a director in Vysya Bank. "It was in the banking sector that I learnt the lessons of financial discipline and also how projects are structured," says the media shy chairman of GMR who has assets worth Rs 15,000 crore (Rs 150 billion) in airports, power and roads. When Rao took over the reins of the bank in 1994, its non-performing assets had touched 15.6 per cent. Rao brought in ING as a partner and scaled down the NPAs to 4.5 per cent. He finally sold a 50 per cent stake in the bank and part of the Rs 380 crore (Rs 3.8 billion) from the sale went into the Hyderabad airport project. Not many people know that Rao's entry into infrastructure was an accident. Rao was all set to invest in a brewery when Chandrababu Naidu tipped him off about the prohibition of liquor distilleries he would announce after coming to power.Around that time the power sector was opened for privatisation and Rao focused all his energies on the Chennai power project, for which he got the licence. After three power projects in Tamil Nadu, Karnataka and Andhra Pradesh, the company has recently been aggressive about hydro projects with three power plants in Uttarakhand, Orissa and Arunachal Pradesh to be operational by 2010-11. Rao forayed into airport infrastructure when he realised the uncertainty in the power sector. He was also among the first to be bullish about aviation - way back in 1999 when the Andhra government had just invited bids for the Hyderabad airport.After Hyderabad was bagged, there were claims that the government would not create a monopoly by giving a second airport (Delhi/Mumbai) to the same developer. But notwithstanding protests from competitors about an unlawful bidding process, GMR got the Delhi airport project. "Around Rs 34 crore (Rs 340 million) was spent for the bidding. It was a golden opportunity and Rao did not want to miss it," says a company insider and close associate of Rao.Global benchmarks in sight, Rao even has international models for his family. There is a detailed family constitution detailing Rao's succession, qualifications of family members to enter the family business (they must be management graduates), their remuneration and perks, among other details. "We decided on a legal framework so that the family stayed together and disputes were solved within it," he said in an interview to Business Standard a few years ago.

Deepak Chopra's - Virgin Comics India

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Animation and comics have gone truly global. Just look at Spider-Man 3's global box office sales as an example. Last month, the wall crawling superhero broke box office records in India, earning the most that any Hollywood movie has in that country to date. In South Korea and Hong Kong, the film superseded existing benchmarks for opening day revenues, while in Singapore, the Philippines, Malaysia, and Thailand, sales were the highest for any single day. The fact that an idea stemming from a 1960s superhero thought up by two American writers holds such strong appeal cross-culturally is simply testimony to the extent to which vastly different cultures are increasingly intermingling with one another. Within this context, acknowledging that anime and manga have gained significant ground with comic book and animation aficionados far beyond the geographical confines of Japan lacks the element of surprise that it might have engendered some years ago. Slideshow: Branson, Chopra turn celebrities into comic book creators The future of vending machines For businesses that want to go green, do-it-yourself "If you told parents ten years ago in America that their children would know characters named Yu Gi Oh! and Pokemon as well as they would Spider-Man, those parents would have thought you were crazy -- yet in America today an estimated 30% of major children's animated programming is now Japanese animation," states Sharad Devarajan, CEO of the New York-headquartered Virgin Comics and Animation. It is the recognition of this ease with which anime transcended its initial status as merely a cult phenomenon outside Japan that formed a fundamental impetus behind the founding of Devarajan's company about two years ago. Positioning itself to redefine the comic book industry, Virgin Comics touts its mission as the creation of global comic properties that take their basis and inspiration from the east, particularly India, in a manner that resonates with both western and larger eastern audiences alike. Virgin Comics is the progeny of Sharad Devarajan and Suresh Seetharaman -- co-founders of another comic book company, Gotham Entertainment Group in 1997-- along with writer Deepak Chopra and acclaimed director Shekhar Kapur. The Richard Branson backed company, which is the first original entertainment character group coming from India, has the advantages that novelty often confers upon the fortunate. It has recruited top celebrity talent, the press is interested (everyone from The Wall Street Journal and The New York Times to The Hollywood Reporter) and it's successfully expanding into multiple platforms. "In a world that is increasingly dominated by fantasy and epic tales like those of Harry Potter and Lord of the Rings, India has a rich vault of 1,000-year-old mythic content that is ripe to be tapped for global consumption. Our mission is to change the perception of India from an outsourcer to a source," Devarajan recently told FastCompany.com. Apart from its focus on South Asian content, and the fact that it eschews super-heroes in favor of other genres, what sets Virgin apart from every other comic book company out there is a uniquely constructed multi-pronged business plan that consists of three lines -- Shakti, Voices and Director's Cut.

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The company uses a 360 degree model that aims to seamlessly blend its print publications with television, gaming and animation. And there's more. In a quest to induct celebrity creatorship right from the word go, Virgin has successfully wooed big names like director, John Woo and actor, Nic Cage. Devarajan, who unabashedly self-identifies as a "comic addict," explains that fleshing out a printed property to encompass other creative arenas makes for a far more durable outcome in the long-term. The Shakti line focuses solely on Asian-oriented content -- repackaging Indian and other South Asian mythology to create publications that are digestible, not only for India's untapped 550 million strong youth market, but also for western and global audiences. The line is now being published in a dozen languages including French, German, Spanish, and Italian. The company's aim is to continue expansion, and according to Ron Marz, a comic book writer of 17 years who recently signed on as editor at Virgin, it will do so successfully. "Marvel and DC print lots of superhero based comic books that are consumed in mass quantities in the United States. There is very little genre material. Superheroes really don't do that well in global markets," he explains. France for instance, which has the second largest comic book market in the world after Japan, has shown a pronounced distaste for superhero characters. In keeping with its quest to appeal to global audiences, Virgin Comics has its feet planted firmly in multiple camps, with a 100 person studio based out of Bangalore, and its marketing, licensing, merchandising and editorial departments in New York. Its revenue is currently evenly distributed between India and the US, with European markets responsible for a large chunk as well. Shakti publications include Devi: the story of "a fierce feminine warrior, stronger than the Gods themselves . . . a champion of the heavens, and the protector of man;" and The Sadhu, a tale about "one man's choice between his spiritual oath and his human instinct," that traces a simple English soldier's journey to becoming a spiritual warrior. This summer, the comic books will be retailed at Borders, Barnes and Noble and other mainstream bookstores across the United States. "This is a great way to recruit new audiences, not only within existing groups of comic book readers, but also amongst those who so far haven't really been attracted to comics but might be attracted to this new wave of content," Marz states. The company has the added advantage of retailing at Virgin stores. Other brownie points for Virgin Comics: its Voices and Director's Cut lines. These go beyond the repurposing of South Asian stories to recruit top creative talent from the fields of film, music and the arts during the stages of creation, not just implementation, of its projects. While DC and Marvel have brought in outside celebrity talent, this is primarily through writers, like Kevin Smith, who usually work on existing characters rather than creating entirely new concepts themselves. Marz maintains that Virgin is the first to have created such a business model, although other comic book companies are increasingly beginning to catch on. Through Voices, the company has brought in Nicolas Cage, who will play the lead role in the film adaptation of The Sadhu line of comics; he is also currently in the process of co-creating a line entitled Voodoo Child with his son Weston. 59

With Director's Cut it has inducted names like John Woo, who created 7 Brothers in collaboration with writer Garth Ennis, and Guy Ritchie, who thought up The Game Keeper -- both monthly paperback comics lines, the latter of which is slated to soon be turned into a film. The high level of celebrity involvement is certainly a selling point for the company, which operates out of a sunny, single floored office in Soho. "Over and above being just a name, a celebrity is a brand. Tapping into existing brands in this alternate form is one way to compete in a superhero dominated world," acknowledges Devarajan. Inducting celebrities from different parts of the world has also served to strengthen Virgin Comics' cross-cultural appeal. John Woo reels in fans from South East Asia, Guy Ritchie has some sway in the UK markets and Shekhar Kapur's Devi is proving popular in India. Devarajan staunchly denies playing favorites to any region in particular: "We have no one focus because there are different rewards in different markets." The company's decision to stay far way from the superhero genre, even within the US, is a wise one according to Marz: "The American comic market is dominated by superheroes -- companies like Marvel and DC rule the roost and people don't want third generation knockoffs. The American comic book market is so restricted: when people hear about 'comics' they immediately think of superheroes, rather than seeing them as merely one way to tell a story, " Marz says. The writer's own decision to work with Virgin was spurred by his conviction that the company is doing something "new and different," which is likely to induct new readers. Gerry Gladston, co-owner of Midtown Comics in New York, agrees: "Companies like DC and Marvel are more mainstream; they are houses of established iconic characters. Virgin takes a more intellectual approach, with stories that are based on folklore and mythology. Its audience goes beyond just the regular comic book buyers -there's a lot of scope for it to expand the existing demographic of the comic book market." When asked whether they thought Virgin could ever act as a threat to an established name like Marvel, both Gladston and Marz maintain that there's space enough in the comic book markets across the world for both companies to flourish. States Marz: "Virgin and Marvel aren't competitive with each other. They're just opposite ends of the same spectrum."

Thiagarajan, - PARAMOUNT AIRWAYS

Stelios Haji-Ioannou was just 28 when he started EasyJet in UK, thereby earning his place in the Guinness Book of Records for being the youngest chairman of a scheduled airline. M Thiagarajan, a pilot, was just 27 when he floated Paramount Airways, based out of Madurai, which launched commercial flights on October 19, 2005. This makes Thiagarajan the youngest airline CEO in the world. But Thiagarajan, who hails from an illustrious family - he is the grandson of Karumuthu Thiagarajan, a pioneer in the field of textiles and founder of the Bank of Madura - is keener on celestial navigation than Guinness records. "Apart from aviation, his passion is astronavigation," says a close friend. "Thiagarajan can tell you the location by seeing a star. He must think an airplane can take him nearer the stars..." But stargazer Thiagarajan, who had primarily restricted his aviation activities to south India, is now locating stars of fortune in western and central India for possible acquisitions. 60

Sources say that Paramount Airways is interested in picking up stake in the Wadia-promoted budget carrier GoAir or Delhi-based low fare airline SpiceJet. Though both airlines have denied any such developments with Paramount Airways, sources confirm that Thiagarajan and team are camping to Mumbai for initiating talks. "We are talking to airlines in India," Thiagarajan confirms. "We are interested in acquisitions. But specifically, I cannot comment on anyone. We are looking to acquire another airline for gaining access to landing slots and parking bays. That will facilitate our expansion much faster," he adds. What's the possible synergy with GoAir or SpiceJet? Insiders say GoAir could enable Paramount to enter western India while SpiceJet could be a separate low fare entity. Funds? "That is not a constraint. We were promoters of Bank of Madura, which later merged in ICICI Bank Any acquisitions can be facilitated through internal accruals," Thiagarajan says. A business management graduate, he entered the family business as a third generation entrepreneur and established his own Paramount Mills before starting the aviation business. If the low profile entrepreneur has donned an aggressive profile, it is because "We were making the right kind of noise and we are now leaders with 26 per cent market share in the south Indian market," Thiagarajan says, "now it is time to have a presence in western and central India." Thiagarajan may have eschewed a less-than-flamboyant lifestyle in his personal life, but where Paramount Airways is concerned, he chose a "high value carrier business model targetting the premium segment of customers with a business and first class configuration" using Brazil-made Embraer aircraft. More recently, Delhi-based MDLR Airlines has chosen to follow the model with an exclusive business class configuration.

SHIV NADAR- HCL

In 1976, during lunch time at Delhi Cloth Mills, DCM, a group of six young engineers in the office canteen were discussing their work woes at DCM's calculator division. Despite them all have having jobs that paid them well, they were an unhappy lot -- they wanted to do more, riding on their own gumption. They decided to quit their jobs and start a venture of their own. The man who was fuelling the ambitions of his five other colleagues at that canteen was a 30-year-old engineer from Tamil Nadu, Shiv Nadar. And this is how the story of Hindustan Computers Limited, HCL began. 61

Nadar and his five colleagues quit DCM in the summer of 1976. They decided to set up a company that would make personal computers. They had gathered enough technical expertise at DCM's calculator division, but like for all start-ups, getting funds was the problem. However, Nadar's passion for his new dream company and the support of his enthusiastic colleagues soon made the task very easy. Founder, Chairman and CEO, HCL Technologies, Shiv Nadar told CNBC-TV18, "The first person I met was Arjun and he was also a management trainee like me. He was a couple of batches junior to me. . . We became very good friends and we are still very good friends. Then, the rest of them all worked for DCM and we all are of similar age, so we used to hang out together, crib together, have fun together, work together. Nadar would first have to gather cash to give wings to his idea of manufacturing computers. He floated a company called Microcomp Limited -- through which he would sell teledigital calculators. This venture threw up enough cash to allow the founders to give shape to their ultimate dream to manufacture computers in India, at a time when computers were just sophisticated cousins of the good old calculator but support also came from the Uttar Pradesh government. Finally, the founders put together Rs 20 lakh (Rs 2 million) and HCL was born. The year after HCL was floated, the Indian government reigned in the ambitions of the foreign companies in India. This pronounced the death knell of companies like IBM and Coca-Cola while bells began to ring for Indian entrepreneurships like HCL. Managing Editor, The Smart Manager, Dr Gita Piramal says, "Few Indian businessmen were happy when George Fernandes became industry minister in 1977, when the Janata Party came to power. Foreign businessmen were even less happy that Coca-Cola and IBM left India. IBM's leaving, left a major vacuum and this was the vacuum in which Shiv Nadar spotted an opportunity. He stepped in and customers began to trickle in." HCL started shipping its in-house microcomputers around the same time as its American counterpart Apple, and took only two more years to introduce its 16 bits processor. By 1983, it indigenously developed a relational data based management system, a networking operational system and client-server architecture, almost at the same time as its global peers. The road to the top was now in sight and HCL took it a step further by exploring foreign shores. HCL's first brush with international business came about in 1979 when it set up a venture in Singapore; it was called Far East computers. HCL was only three years old and its net worth was around Rs 3 crore (Rs 30 million). Shiv Nadar set up an ambitious target for the venture and notched up sales of Rs 10 lakh (Rs 1 million) in the very first year. Co-Founder, HCL Technologies, Ajai Chowdhry says, "We discovered that there was a good opportunity to enter Singapore with our own hardware we had manufactured in Singapore. But the strategy was very clearly around selling computerization rather than computers and so we actually took the whole idea of hardware, software solution and service and packaged it and presented it as computerization." Even as it was basking in its success in Singapore, HCL planned a whole new area of expansion and it tapped into a territory that was lying unexplored in the country - computer education. Sensing the increasing demand for computer training, HCL set up NIIT in 1981 to impart high quality IT education in India. Nadar explains, "We knew many people in IIT and Indian Institute of Science. We formed an advisory panel and asked them, can you help us navigate this whole thing and they were very enthusiastic about this and they of 62

course shaken up a little bit when they saw that we started advertising in Bombay -- selling education as a commercial project." From calculators to IT education, the first five years of HCL was a combination of growth and expansion riddled with uncertainty but the company was now gearing up to set a much bigger target for itself and an announcement from the government would help it takeoff to those soaring heights. In 1984, the Indian government announced a new policy that would change the fortunes of the entire computer industry. The government opened up the computer market and permitted import of technology. With new guidelines and regulations in place, HCL grabbed the opportunity to launch its own personal computer. The demand for personal computers was slowly but surely mounting in the Indian market. Most banks were shifting to the UNIX platform. A few companies approached HCL for personal computers, so, the founders flew all over the world to bring back PCs they could take apart, study and reproduce and indigenously upgrade. Their first innovative personal computer was ready in three weeks' times and soon they launched their first range of computers, and they called it the Busybee. Chowdhry says, "In a lot of ways, it opened up the market because one thing was that, you no longer had to develop basic stuff in India - like operating systems but on the other hand it opened new opportunities like banking because as per government policy, all banking computers must be UNIX based. So, feverishly we set out creating a UNIX based computer and we bought the UNIX source code and created that product out of nothing." In two years, HCL became one of the largest IT companies in India. The founders now went to different corners of the country to set up sales and marketing offices and it now needed the brightest minds to take it to the next level of competition. Campus recruitment in management and technical institutes began in full swing and HCL grabbed some of the best talent by offering pay packages that outscored some of the best companies of the time -- Rs 2,000 per month to start with. The adrenaline rush of the first half of the 1980s and the rapid expansion strategy soon caught up with HCL. A turning point came in 1989, when HCL on the basis of a report by McKinsey and Company decided to venture into the American computer hardware market. HCL America was born but the project fell flat on its face. HCL had failed to follow a very crucial step necessary to enter the US market. A big disappointment was on its way. Piramal says, "For every entrepreneur, the US will always remain the dream market. It's the biggest market in the world and Shiv Nadar obviously was drawn to it but he really didn't know what he was getting into. The computers he made didn't get environmental clearances. In fact, HCL probably turned into his biggest mistake but HCL and Shiv himself, he is a very strong person, he understood he was making a mistake, he saw that Infosys and Wipro are doing really well in software and he was not too proud to change gears and finally HCL did enter the software market." It didn't take too long for HCL to brush off the disappointment in the US. Its first failure in the US was set aside in 1991 and HCL entered into a partnership with HP (Hewlett-Packard) to form HCL HP Limited. It opened new avenues for HCL and gave opportunities to firm up its revenues. In three years, another new possibility came knocking at its door and in 1994, HCL looked beyond PCs and tied up with Nokia cellphones and Ericsson switches for distribution.

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Chowdhry explains, 'In 1991, when India didn't have enough foreign exchange. We were in the hardware business and we didn't have enough funds. That's the time when a clear thought entered our minds - that we should globalize and in the very early days, we actually created a joint venture with Hewlett-Packard. In 1997, HCL was already a multi-dimensional company spun off HCL Technologies Limited to mark their entry into the global software space. It made up its mind to focus on software development, which was twenty years behind its entrepreneurial journey, Shiv Nadar was now ready to take on global competition with all his might. From 70s to 90s, the HCL story was one of steady rise but in the face of its rapid expansion and continuous flow of achievements, Shiv Nadar didn't anticipate that he would be in for a rude shock and that it would come from someone very close. In 1998, Arjun Malhotra, Shiv Nadar's comrade and friend decided to leave the company to start his own TechSpan, headquartered in Sunnyvale, California. He was also one of the largest shareholders in HCL Infosystems at that time. For Shiv Nadar, it was time to think afresh. The revenues were shrinking from the hardware sector and Nadar now decided to redesign HCL. The company once again needed funds to grow and this time around, Nadar decided to look at the capital market. An initial public offer (IPO) was made on the Indian Stock Exchange in 1999, which was a stupendous success. President, HCL Technologies, Vineet Nayar says, "The shareholders supported us and then I think we started with Rs 580 an IPO and went up to Rs 2,800 or something like that. So, it was a dream run, I think the shareholders bought the argument we were making, they liked the articulation of the strategy, they liked the management team and they liked the vision we were painting and they supported the stock full time and that was a turning point for HCL." Shiv Nadar now put aside his dream of becoming a global hardware major and venture into software with an open mind and a clean slate. Technology was opening up vistas of opportunities in the software sector and HCL now wanted to build new businesses. Global business became a priority, so, now they started a BPO in Ireland in 2001. His partner in this ambitious venture was British Telecom. The years that followed saw HCL in an expansion mode. In 2005 alone, HCL signed a software development agreement with Boeing for its 787 dreamliner programme. Next came a venture with NEC, Japan. It even brought out the joint ventures Deutsche Bank and British Telecom's Apollo Contact Center. In the same year, HCL Infosystems launched it sub Rs 10,000 personal computer and joined hands with AMD and Microsoft to bridge the digital divide. The successes of 2005 spilled over into 2006 and the company now produced over 75,000 machines in a single month, with more parallel joint ventures growing on its list. But in spite of this overwhelming success, Shiv Nadar would not rest. There was a nagging sense of dissatisfaction and perhaps not having exploited its full potential that still drove Nadar and the company to achieve much more. Thirty years after starting his company, Shiv Nadar really does not have much to complain about. Hindustan Computers Ltd today is an empire worth $3.5 billion with staff strength of 34,000. But then dissatisfaction has been the quintessential factor that has made Shiv Nadar the visionary that he was and continues to be. Dissatisfaction once drove him to quit his job at DCM and it is that same quality even today, that is driving him to achieve much more when he can quite easily rest on his laurels.

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DR ANJI REDDY- Dr Reddy's Labs

It was the spring of 1970 and the then prime minister Indira Gandhi, in a deft political move, announced the promulgation of a new Act -- one that would usher in a new beginning for the pharmaceutical industry in India, 'The Indian Patents Act.' Indian companies were now given the freedom to produce generic medicines that were patented abroad. . . healthcare would never be the same and would be affordable, and for Indian drug manufacturers this was a Godsend opportunity. The Patents Act signalled the arrival of good times for the pharmaceutical companies. Soon after the Act was announced, hundreds of companies started reverse engineering of western pharmaceutical products. There was a virtual explosion in the pharma space, with entrepreneurs making most of this opportunity. This also beckoned a young researcher, Kallam Anji Reddy from a small village near Vijaywada. In 1974, the 34-year-old Reddy quit his job with the government-owned Indian Drugs and Pharmaceuticals Limited (IDPL) to set up his own company and he called it Uniloids.

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Managing Editor, The Smart Manager, Gita Piramal, told CNBC-TV18, "The entrepreneur in Shri Anji Reddy could not be restrained. He is one of the very few PSU managers who has made it on his own." Kallam Anji Reddy, chairman, Dr Reddy's Laboratories, adds, "One of the reasons I left IDPL was that I said, 'I am doing all this hard work for a few rupees but if I become an entrepreneur -- there was import duty on all the imported drugs -- and if my technology is as good as western technology, then I could make money from day one.' This is what compelled me to come out and start on my own." Uniloids was Anji Reddy's first brush with entrepreneurship but he was not to rest there. By the early 1980s, he had started a few more ventures in quick succession. He set up Standard Organics Ltd in 1980 and Cheminor in 1981, with an NRI partner Murali Divi. For Anji Reddy, the march to success had just begun. Small ventures prepared Anji for bigger things. While he worked on the manufacture of generic drugs, his real strength lay in research. In 1984, Dr Reddy pooled in all his resources and thrust himself completely into research and set up Dr Reddy's Laboratories (DRL) in Hyderabad. With an initial capital outlay of Rs 25 lakh (Rs 2.5 million), DRL started as a manufacturer of active pharmaceutical ingredients and soon it went out to surprise its competition by introducing branded formulations at half the prevailing prices. Reddy now needed to sustain his aggressive growth plans and he needed cash. DRL decided to go public with an IPO of equity-linked debentures aggregating Rs 2.46 crore (Rs 24.6 million) in May 1986. Reddy says, "The reason we wanted to get money this way was for expansion and, of course, the inspiration was (Reliance [Get Quote] founder) Dhirubhai Ambani who said, 'Why do you want to take money at 15%-18% interest from IDBI when -- if you are good at making profits for investors -- it's better to go to the stock markets.' And we did just that." Between 1985 and 1986, DRL created a scarce drug, 'Methydopa.' Although international manufacturer Merck had its own Methyldopa, its Indian subsidiary had no access to it. Reddy approached Merck with its samples of the drug but was rejected almost immediately and that turned the fortunes in Dr Reddy's favour. Reddy recalls, "Merck's partner in 1984-85 was Tata and it was called Merind (Merck + India) and they had a formulation which Merind obviously wanted to import from Merck USA, where the specifications are laid down according to their requirements. But the government of India would not import because it was more expensive and it was trying to import Methyldopa from Hungary which would not pass the specifications of Merck." "That is where I got into the act. Because there was no Methyldopa available, I took it as a challenge and within three months, we produced Methyldopa equal to Merck's quality and acceptable to them." Reddy got another phenomenal break in 1987 when he got approval from the United States Food and Drugs Administration, USFDA, to make Ibuprofen. This was again a giant stride on DRL's road to success. And this approval to make Ibuprofen opened a whole new world of opportunities for Reddy. He now had access to the biggest market for the drugs in the world, but he would soon face a hurdle that would rein in his ambition to become a global exporter and there was cause also for a bigger concern -- a reshuffle was waiting to happen in his own backyard. In 1990, Anji Reddy's joint venture partner in Cheminor -- Murali Divi -- decided to move out of the partnership to set up his own venture Divi's Laboratories. Retaining joint venture partners was a niggling worry for Reddy and one that he had faced since his initial start-up days and so now he decided to assign key management responsibilities only to his family members. He brought in his son-in-law GV Prasad and son Satish Reddy. 66

On the July 31, 1991, a major American manufacturer of bulk drugs -- Ibuprofen Ethyl Corporation -- filed an anti-dumping administrative complaint against Cheminor. The price offered by Cheminor was deemed less than fair in the US and Flavine International (Cheminore's sole distributor) cancelled all its orders. After a long drawn legal battle, Cheminor was left with no option but to withdraw from the US market. Reddy was now ready to move beyond generic drug development and venture into new drug discovery capabilities and research. It was time to take big strides and during the same year, it made a global depository receipt, or GDR, issue in Europe to raise funds for expansion. The issue fetched a whopping $50 million. Reddy explains, "All the investors knew that it is a long-term story and they bought the shares. My primary concern was my scientists. They have come from cushy, safe jobs from other labs and I need to have enough corpuses to keep them going. This was my main concern and also the expansion. We were expanding at a terrific speed at that time, so we would rather go for a GDR." By the mid-90s Reddy was gearing up to go global. In March 1997, it achieved its first breakthrough by licensing out an anti-diabetes molecule to the world leader in diabetes drugs -- Novo Nordisk of Denmark. In fact, this small step taken by DRL proved to be a giant stride for the Indian pharmaceutical industry. The pharmaceutical industry went through an instant paradigm shift in its image from being known just as copycats to innovators. Piramal says, "He wanted to be a research company. He didn't want to be just a copycat all his life. But Novartis [Get Quote] and Nordisk retuned his molecules saying that they didn't work. His friends and his rivals asked him why does he want to push for drug discovery in an industry, which is flourishing on reverse engineering?" In 1997, DRL filed for its first abbreviated new drug application (ANDA) process for Ranitidine. It was also planning its next round of expansion. In 1999, DRL took over a pharmaceutical company based in Chennai -American Remedies -- where he bought out 45% of the company's stake at Rs 175 per share. DRL would now be able to cash in on the American Remedies strong prescription base of over hundred thousand specialist doctors. The 1990s ended on a high note for Anji Reddy. His businesses had both expanded and consolidated over the last two decades and he had already made inroads into the international pharmaceutical market. In 2000, he became the third largest pharmaceutical company in India but Reddy was keenly eyeing for much more -- beyond Indian shores. On the April 11, 2001, Dr Reddy's Laboratories was listed on the New York Stock Exchange. The issue was dubbed as the year's best performing American depositary receipt, or ADR. It fetched DRL $133 million at a time when stock markets across the world were at their lowest end. Reddy says, "When we went on talking about our company we told them what we have done so far and then we promised them a few things that we will do. And on April 11, 2001, we listed and we went on fulfilling those promises -- for example, we said we have a patent challenge going on but we think we will win." "We won the patent challenge for Prozac and we got the company $100 million profits and then we licensed and we said we have got more drugs in the pipeline and we will license them out. So, we licensed DRF 4158 to Novartis. So, when we fulfilled these promises that year, Dr Reddy's was called the best performing stock in the New York Stock Exchange."

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But the initial highs of 2001 soon met with reversals of fortune. On the August 3, DRL won a protracted battle against Eli Lilly. It went ahead to make Norvasc drug that had been patented by Pfizer [Get Quote] since the early 1980s and now a battle with Pfizer was brewing. In February 2003, when Pfizer's patent for Norvasc expired, DRL saw an opportunity. Pfizer still had sole marketing rights, but DRL decided to produce the drug with different components and through a different method. It also applied for approval from the USFDA, but Pfizer did not sit easy, it decided to take legal action against DRL. DRL promptly filed a motion to dismiss Pfizer's complaint. The new formula of DRL got the USFDA approval and a New Jersey court ruled in DRL's favour. Piramal says, "To crack the US market to get your product on a shop shelf means you have to win the right and that right actually comes from the courts of law. Reddy knew that if he wanted to succeed he would have to fight for this right. He had seen other companies from other countries succeeding in this. He had seen that other Indian companies were shying away from it but he was sure of himself that he would do it at whatever the cost and the cost was definitely high. Fighting in an American court against American companies in a very patriotic country is not easy. The American companies had far deeper pockets, but to his credit, Anji did win some stupendous victories and got some money back, but there were some expensive defeats also." These stumbling blocks hindered, but couldn't stop, DRL's growth, and in 2005, DRL purchased Roche's API business at the state of the art manufacturing plant in Cuernavaca, Mexico, with a total investment of $59 million. That wasn't all -- the next acquisition made DRL a frontrunner in the European pharmaceutical industry. DRL moved to Germany in early 2006 and acquired Betapharm Arzneimittel -- one of the largest generic drug companies in Germany for Rs 2,250 crore (Rs 22.50 billion). It was the biggest every overseas acquisition by an Indian pharmaceutical company. DRL was now gearing up to become a global company with a presence in all the key markets of the world with a net worth of Rs 5,800 crore (Rs 58 billion). From Rs 25 lakh in 1984, DRL today is one of the most significant companies in the global pharmaceutical industry. Driving this success has been Reddy's unflinching conviction that what they (the MNCs) can do, he can do better.

K V Kamath -ICICI

In 1955, seven years since India had become independent, it was also the time to rebuild the nation and industrialisation was the only way forward. It was at this time that with the initiative of the World Bank and the Indian government, that the Industrial Credit and Investment Corporation of India, ICICI, was formed. 68

Sixteen years later in 1971, to give a new lease of life to its rather nondescript existence, the corporation hired a batch of young business graduates. Among them, was 24-year-old Kundapur Vaman Kamath; fresh out of management school in Ahmedabad. In time, Kamath would redefine banking in India and become a legend in his own right. Mangalore-born Kamath joined the Project Finance Division of ICICI as a management trainee in 1971. A quick learner, Kamath demonstrated his entrepreneurial skills early in his career and his sheer talent caught the attention of the then chairman of ICICI, N Vaghul. Kamath set-up new businesses in leasing, venture capital, credit rating as well as handling general management position. Taking his responsibilities a step further, he implemented ICICI's computerisation programme, which in later years would give ICICI a huge competitive advantage. For 17 years, KV Kamath looked beyond the obvious to create value for ICICI. In 1988, an opportunity came calling that would take him beyond the shores of India. Managing Editior of The Smart Manager, Gita Piramal, told CNBC-TV18, "Kamath was with ICICI for 17 years before he decided he needed a change. He went to Manila to the Asian Development Bank [Get Quote], and this was an absolutely critical turning point in his career. He learnt about new processes, how emerging markets work, he learnt to deal on a global international scale and this was absolutely important when he came back to India. He was with the Asian Development Bank for about eight years before he got a call from his mentor." Chairman at ICICI Bank [Get Quote], N Vaghul, recalls, "Within a few months of my joining I had interacted with Kamath. Kamath was at that time in the leasing department and I had more or less made up my mind that he would be my successor." By 1994, the impact of the economic reforms initiated by the Narasimha Rao government were beginning to show, albeit rather slowly. The same year, ICICI Limited had set up its subsidiary -- ICICI Bank. Two years later, in 1996, Vaghul's protege KV Kamath rejoined ICICI as its new Managing Director and CEO. Kamath immediately initiated strategic initiatives and structural changes across the ICICI Group that helped redraw its boundaries and take it to the next level. MD & CEO, ICICI Bank, KV Kamath says, "An organisation, which is 40 years old, you need to move some people into some positions, in which you think they would be better of and that's what was on top of my mind." Kamath's immediate priority after his return was to create new operations in the organisation and more importantly, to tap new markets. He introduced flexibility in the bank's functions and shaped them to respond to new market reactions. The company was now laying the foundation to become a financial powerhouse, but Kamath had a mammoth task ahead. Piramal explains, "Kamath had a daunting assignment to get a banking license. This was a very important moment because the Indian government had not issued licenses since Indira Gandhi had nationalised banks. But at this juncture, the government did issue licenses and there was a mad scramble for them. Amongst those who managed to get it -- the Times Group, the Hindujas, Kotak and of course ICICI. But this was just the beginning - he had far bigger dreams." The visionary banker saw an encashable opportunity in the retail banking space. ICICI's strategy and product offering recognised the changing demands of a growing middle-class. Deputy MD, ICICI Bank, Chanda Kochhar, says, "When we rolled out the retail strategy in a big way -- that was again a huge change and therefore a hugely enriching experience because at that time, the entire consumer finance 69

business was very nascent for the country as a whole. So, we really had to create a vision of what this business is going to be like for the country and of course it was absolutely new for ICICI. One was really moving in uncharted territories and taking decisions, taking a call as one moved along and learning alongside." Retail financing in the mid-1990s was an open field, with no major players and Kamath recruited a young bunch of strikers who would score winners for him. In 1997, ICICI became the first Indian financial institution to go online. At a time when word was experiencing the dotcom boom, Kamath was quick to sense the shift in customer demands. Fighting skeptics, Kamath went ahead with a plan to offer a multi-channel delivery system to its customers. Starting with just 5,000 online customers, ICICI today serves over 2.5 million people online. It opened the floodgates of a unique success story. By the end of the 1990s, Kamath had chalked out ambitious plans to spruce up ICICI from within. Supported by an able group of young aspirants who believed ICICI had places to go. Impatient by the dream and brimming with confidence to make ICICI a market leader, Kamath would soon take crucial steps that would influence the fortunes of this financial institution. In September 1999, within three years of taking over as the Managing Director and CEO of ICICI, KV Kamath drew up aggressive plans for growth. That year, ICICI Ltd got listed on the New York Stock Exchange, NYSE, the first ever Indian financial institution to go the American Depositary Receipts, ADR route. The next year, ICICI Bank followed suit and its ADRs made a debut at $14 on the NYSE, at a premium of over 27% over its issue price of $11. Post the listing with the NYSE; ICICI had ambitious expansion plans and this time, it was through inorganic growth. The process had begun way back in 1997 and between 1997 and 2001; Kamath engineered a string of acquisitions like SCICI Ltd, ITC Classic Finance, which had a strong retail base in Eastern India and a strong base in the West. Most significantly, it acquired Bank of Madhura at a time when its own revenues stood at Rs 2,500 crore (Rs 25 billion) and that of the bank at Rs 100 crore (Rs 1 billion), it was time for the next courageous move. The year 2002 was the landmark year for ICICI, the board of directors of ICICI and ICICI Bank approved the merger of the parent company ICICI and subsidiaries like ICICI Personal Financial Services Ltd and ICICI Capital Services Ltd, with yet another subsidiary ICICI Bank. The entire banking and financial operations of the group was bought under one roof. It was a reverse merger and quite rare in corporate India, where a parent company merged with its subsidiary and adopted the later's identity. KV Kamath explains, "The bank was the entity into which ICICI Ltd went backwards into. You did not then have to address the issues of regulatory clearance to do a whole lot of things because the bank already had those approvals and that facilitated the whole process and that was the critical reason. The other reason to use this route, was to clean up ICICI Ltd at the time of the merger and the only way we could do it was, if ICICI Bank was the entity into which ICICI Ltd merged." Soon after the merger, it was time for ICICI now in its new avatar ICICI Bank to takeoff and win new markets as well as look for horizons beyond the Indian seas. In 2002, ICICI set up offices in New York and London. The very next year it established subsidiaries in Canada and also joined hands with Lloyds [Get Quote] TSB in the UK. Offshore banking units were set up in Singapore and representative offices in Dubai and Shanghai. 70

Kamath's passion for growth was fanning ICICI Bank's burning ambition to grow beyond its dreams and to achieve it, he added a new weapon to his armoury -- technology. He introduced ATMs across the country using current technology as an enabler. ICICI Bank had experienced a growth rate of more then 180% in its very first year and a separate majority owned company called ICICI Infotech supported the IT operations of the banking section. But it was the innovative idea of introducing ATMs, that tips the scales in their favour. Kamath says, "To set up an ATM, you need three-four levels of redundancies. You set up recycling, you have to have a lease line, a dial-up line and you are still not sure the ATM would work 94-95% of the time. Today, you have ATMs available 99.99% of the time. So, there were these risks but we bet on technology." Piramal adds, "Kamath found himself sandwiched between State Bank of India [Get Quote] and the foreign banks who had an excellent retail presence. One of the ways is to meet the shortfall of being able to offer branch facilities, and at that time ICICI had just 50 branches. To meet that shortfall, Kamath hit upon an absolutely winning strategy and that was to install ATMs across the country." There are many who dream big and let their dreams fade. . . to die forgotten deaths. But there are still a few who nurture their dreams, give them wings and then turn them into realities. These are the people who make a difference and that's precisely what KV Kamath did. With the turn of the millennium, ICICI emerged as the largest private bank in India and fueling its growth was the untiring efforts of one man -- KV Kamath. He rightsized the organisation, expanded internationally and gave a fillip to its technology driven expansion plans, and then Kamath set his eyes on making ICICI a universal bank. He had a vision and it was to create an international banking experience in the country, which would provide complete financial services to different classes of customers. For the first time ever, the rural community was included. With the use of technology, the bank started tapping into the micro- banking space in rural India, utilizing partnerships with multinational and local agricultural institutions. Kamath repeated his earlier success with ATMs, when he introduced cross-selling in ICICIs banking system. He recognized the inconvenience faced by busy customers and brought in direct selling agents, who would reach customers easily, identify prospects and initiate dialogue. This not only helped ICICI deliver personalized banking facilities, but also changed the banking experience in India forever. Joint Managing Director at ICICI Bank, Lalita Gupte, says, "When I look at the vision for ICICI Bank in the next 10 years, I think major changes will take place. I see a very bright future ahead and I see the aspiration has been to move into the top league in the world - in top 25-50. This in a way reflects the place India will actually find in the global economy." "Several Indian corporates are going overseas in acquiring businesses and expanding into the global marketplace. Mr Kamath is a visionary and I do see that this will definitely have an impact on the bank, as we go forward." Piramal says, "In all the different directions that it was growing, Kamath also had to look after the legacy of the past. He had to streamline and rightsize the organisation. It had 33 subsidiaries, he gradually brought them down step by step from 33 to 24 and then 12 and he prepared the company for an IPO. This was an absolutely critical testing time for Kamath." In December 2005, ICICI Bank announced its initial public offer to the Indian market and amassed over Rs 80 billion. With a very well defined roadmap, ICICI Bank soon put in place, a formidable plan for its future. With its 71

current asset over Rs 250,000 crore (Rs 2,500) billion and a net profit of over Rs 2,500 crore (Rs 25 billion), with a network of 614 branches and over 2,000 ATMs, ICICI Bank has left its competition years behind. Kamath's contribution to cutting edge innovations in the banking sector will soon recommence, and as if to acknowledge the years of dedication he has put in to making sure that ICICI Bank stands at the apex -- in 2001, he was named the Asian Business Leader of the Year. A fitting finale one would say. . . but there just might be more coming from him.

Dilip Shanghvi - Sun Pharma

For a company that started in 1983 with just five people and five products, it's no mean achievement that Sun Pharma today commands the largest market capitalisation of Rs 21,271 crore (Rs 212.71 billion) in the pharma universe. Thanks to a strategy that focuses on niche segments such as psychiatry and lifestyle drugs, the company has raced ahead, with its business growing four-fold between 1999-2000 and now, with revenues of Rs 2,237 crore (Rs 22.37 billion). The story goes that the reason chairman and managing director Dilip Shanghvi decided to manufacture medicines for psychiatry, when he set up his first unit at Vapi in Gujarat, was that the number of psychiatrists was few and so it would be easier to reach out to them rather than sell to a whole lot of general physicians, which would require a large field force. Whatever the reason, Sun, from the very beginning, has focussed on the high-margin chronic care therapy products that have made the company very profitable. Together with a head for numbers, Shanghvi -- who started life as a wholesaler of pharmaceutical products in Kolkata where his father ran a business -- has a knack for turning around companies. Most of his acquisitions have been of distressed assets. Known to be extremely conservative, with his feet firmly on the ground, 51-year-old Shanghvi has desisted from overpaying for assets or getting carried away by bids from peers, preferring instead to bide his time. That's possibly why Sun hasn't made any big acquistions since it first bought into the Detroit-based Caraco Pharma in 1987 and took over, over a period of time for $50 million. Initially, the Caraco takeover seemed to be a wrong move -- it was in the red for several years -- and the Sun management perhaps miscalculated the timelines required to sort out some of the US FDA issues that Caraco faced. Shanghvi, however, persevered and finally Caraco is making money. Industry watchers are convinced that Sun's more recent takeovers, including Valeant and Able Pharma, too will soon turn profitable. Sun Pharma's buyouts have been well thought out. In almost every instance the company has managed to diversify into a new area. When it acquired Tamil Nadu Dadha Pharma it gained entry into the oncology space; 72

with Milmet Labs it was able to acquire expertise in ophthalmology, while with Valeant it penetrated the controlled substances segment. The story is much the same with its latest acquisition,the Israel-based Taro, which Sun has bought for an enterprise value of $454 million. The $300 million generics player, which has a subsidiary in Canada, is a strong contender in the dermatology segment which accounts for more than 50 per cent of its revenues. Taro is strategically a good fit for Sun because, as the soft-spoken and down to earth Shangvi says, it will help Sun tap into the former's customer base in Canada, Europe and US and sell Caraco's existing portfolio of products to them. Taro may not be in great shape financially -- it made a loss in 2006 -- but then Shanghvi should not have too much trouble turning it around. When Sun Pharma first started selling its products on a national scale, way back in 1987, it ranked a low 108 on the ORG list. Today, with a domestic market share of 3.2 per cent, it is ranked number six. The numbers tell the story: whether it's building a profitable business or creating wealth for his shareholders, Shanghvi's done a great job. Suresh Kamath- LASER SOFT INFOSYSTEMS

Suresh Kamath, the managing director of Chennai based Laser Soft Infosystems Ltd is an unusual man. Unlike most other entrepreneurs, he does not aspire to create a business empire; his sole ambition is to provide employment to 10,000 people. He also plans to reserve 40 per cent of the jobs for the disabled. Suresh started Laser Soft in 1986 with just Rs 200 and five people. Today, the company is a force to reckon with in the banking software arena. In recognition of his commitment to the disabled, President of India A P J Abdul Kalam felicitated Suresh with the Best Employer award in December 2005. He also won the Best Employer award from the Tamil Nadu government. He has been awarded the NCPEDP shell Helen Keller Award for giving equal rights and gainful employment to persons with disabilities. Read on for the inspiring story of Suresh Kamath

Ambition as a child I come from a poor family. We lived in a one-room-kitchen house in Mysore. Though my father struggled very hard, he did not let his penury affect the lives of his children. Unemployment, depravation, hardship pained me 73

and right from my school days my ambition was to create employment in this country. As a child I was motivated by Mr Laxman Rao - one of my teachers at school who always advised me to do something for the country. I heard tales of poverty and struggle from my father and grandmother. How my father could study only up to the 10th standard, as he did not have money for further education. My mother too did her schooling only till the 8th standard. But all this hardship did not stop them from encouraging us to continue with our studies. I was the eldest among my siblings and took up the mantle of setting an example. Encouraged by my performance - I was always a rank holder - my younger siblings too did very well in studies. As far as my career was concerned, my father gave me full freedom and I decided to study engineering. I joined the National Institute of Engineering in Mysore in 1975 in electronics and then did my M Tech in computer science from the Indian Institute of Technology, Madras. Life after graduation I was keen to start my own company immediately after my post graduation. But since I did not have any job experience I was advised against any such move. So, I joined Tata Consultancy Services and worked for a year. I noticed that all the major Indian software companies were into services; they were not into creating products and it disappointed me. I was convinced that India could create excellent products thanks to the huge talent pool available here. While at TCS I found that most of my colleagues aspired to go abroad to further their career. But I was not interested in overseas assignments. Even at IIT, I was the only student in our batch of 20 who did not go abroad after studies. On hearing of my ambition, many of my friends ridiculed me and even called me a 'fool'! I took their scorn in my stride. However, my parents were very supportive. They encouraged me not to pay heed to what others were saying and encouraged me to strive to give shape to my ambition. After TCS, I joined another company that was into hardware because I wanted some related experience. I worked there for three years. Starting Laser Soft When I was 28, my father told me to get married. I decided to marry the girl of his choice. By then I had decided to quit my job and start my own company. I told my fiancee of my plans and asked her if she still wanted to marry me. She said, 'Yes. I have faith in you.' On May 1, 1986 I launched my company. I intentionally chose May Day as it is also labours' day. With initial capital of Rs 200 and five technical people from NIIT the company was launched. I told them, 'I will give you whatever I can afford but all of us will draw the same salary.' I did not even try to hire any engineers, as I was convinced that they won't work for a small company like mine. Also, I strongly believe that you don't need engineers for programming. What you need is logic. I also wanted a team that would be the foundation of the company, who would remain with the company. Why Laser Soft? Because the word laser - meaning accuracy and precision - appealed to me, and soft is of course from software. Our office was a room in my house, and our first job was to get visiting cards and letterheads printed. First client 74

We decided to focus on banking and healthcare. Banking because it was a gargantuan sector and had huge potential. At that time automation of the banking system was a faraway dream. We approached the State Bank of India and Apollo Hospitals and told how our products could facilitate their work. SBI admitted that they had a six-month backlog in the DD purchase for Madras Fertiliser Ltd. Since we did not have computers, we requested SBI to allow us to work in the bank in the evening. They agreed. First product Our product for SBI was out in two weeks' time and the backlog was cleared within a month. Our first product was thus a big success. Both SBI and MFL were very happy and we were paid a remuneration of Rs 5,000. Sensing that we could help them in various quarters, SBI sent us to their overseas branch -- which incidentally was their largest branch in the South doing business of over Rs 5000 crores. Everything was done manually. On any given day the branch could take only 25 bills from the exporters. Our product, readied in a week's time, was exclusively for handling export bills. From 25 bills, they were able to handle 200 bills a day and the profit of the branch zoomed to Rs 55 crores (Rs 550 million). End of first year By the end of the first year, our turnover was Rs 128,000, and our staff strength had doubled to 10. With Rs 1000 as monthly salary, we could manage. After the success of the export bills, SBI assigned more work to us. As our work pressure increased, we hired more people and by the end of the second year we were 25 people and our profit stood at a handsome Rs 600,000. In five years' time, we computerised 70 SBI branches all over India. Parthasarathy Then one morning in 1987 Parthasarathy - we call him Partha - came to meet me. He was disabled and was not an engineer but had undergone a computer course that the government had offered in an institute. I told Partha, "I like to employ people like you." And it was not a wrong decision. Partha had an amazing zeal and his disability did not stop him from being mobile. I thought it was the right model for any industry to follow. I was not doing any charity by employing him because my company benefited more from Partha than vice-versa. I have noticed that physically challenged people are more committed than others but unfortunately we pay scant attention to them. Business houses talk about attrition. I tell them, 'Look at these people, they will never leave you.'

Disabled-friendly office At that time our office was in the first floor and Partah had difficulty tackling the stairs. Seeing him struggle, I decided to make the entire office disabled-friendly. Our ground floor is now exclusively for the disabled people, and we have ramps in our office and there are special toilets for them too. We have also built houses for them near the office so that they can avoid long travelling hours.

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After meeting Partha, I decided to hire more disabled people. We waited six months to get a disabled person who could be our receptionist. Reservation I don't look at employing disabled people as charity. I look at this as my responsibility. This country has spent money to educate me and I feel it is my duty to do something for the less privileged. It had been a great experience working with them. Seeing them work, get married, settle in life and have children is a wonderful experience. We have 550 employees now, and 15 per cent of them are disabled. We go to engineering colleges looking for disabled people but find only one or two in each college. Parents don't send them out. The biggest challenge for the physically handicapped is the attitude of their parents. We, at LaserSoft, hire them even if they are not engineers. Other than the physically challenged, we have people suffering from cerebral palsy too working for us. We find them good in graphics. Many of our employees are deaf and dumb. Best employer award I was elated when I won the award but with all humility, let me say I am doing very little. I am very disappointed to see that I was chosen when there are so many business giants in India. Seven per cent of India's population is disabled but all of us turn a blind eye to them. I realised that if I could get an award by doing so little, it means that others are not doing even this much. I was honoured to meet Dr Abdul Kalam. He is a wonderful person, a real motivator. He asked me, 'What exactly do the disabled people do in the company? Do they do software or menial job?' I told him barring two all are involved with technology. Ambition My ambition is to create 10,000 jobs, and I want to reserve 40 per cent of that for the disabled. We also have a light top model as far as salaries are concerned. We don't give huge salaries to those who occupy the top positions but distribute the money to all the employees. Reservation row Reservation based on caste is going to divide us further. Reservation should be based on economic criteria alone. We should learn to forget our past and start looking at the future. What have today's children got to do with what some people did in the past? What difference does it make if you are a brahmin or a non-brahmin when you are poor? How many IITs and IIMs do we have? How many good medical colleges and engineering colleges do we have? We have such a vast population but not enough resources. Instead of starting more colleges, and there should be special colleges for the disabled, the government is talking about more and more reservation KISHORE BIYANI- PANTALOONS, BIG BAZAAR Kishore Biyani, the current pin-up boy of Indian retail, has been many things at many times. The varied roles he has played have included those as a trader, a failed film-maker, a dance festival organiser and, now, famously as an innovative retailer. 76

Having made Pantaloons, Big Bazaar and Central resounding successes, Biyani has tried to tell his story with this autobiography. The book is interspersed with quotes and anecdotes from academicians, former colleagues, investors, business partners, family members and batch-mates. With the success of stonewash fabric I had tasted blood. I started to desperately look around for something new. A few of my elder cousins by that time had started their own trades. These were mostly around plastic, corrugated paperboards and packaging. I worked with them for some time but it could not sustain my interest. It was good to learn about new businesses but none of these had the mass appeal I was looking for. I wanted to try out something that would reach out to maximum number of people in the country. Over the next fifteen years, I kept looking for a beachhead to realise my dream. It was the early Eighties and there was a distinct sense of optimism. The young and energetic Prime Minister Rajiv Gandhi was in many ways ushering in the first wave of liberalisation. I felt that this was the time to try different things, new things. I started looking around for big deals that could be ideal for the 'new' India that was emerging. Much to the displeasure of my family and well-wishers, I got my hands dirty in multiple businesses all at the same time. Some of these businesses were moderately successful but most of them had to be closed down after a few years. However, in some way or the other, each of these businesses contributed to my understanding of customers and formed the foundation of what is today our company. One of the first things I got involved in was launching a brand of fabric for men's trousers. I named it WBB. It was a simple abbreviation for the three most popular colours for trousers those days - White, Blue and Brown. Yet, it was smart, catchy and unique. Come to think of it, what else does one need? I would visit small textile mills around the city and buy fabrics that I liked. Then I would try to sell these to garment manufacturers and shop owners in the Kalbadevi area. Readymade garments hadn't really become popular till that time. People bought fabric and got it stitched at a tailor's shop. The major fabric brands used to be Vimal, Raymond and Bombay Dyeing but some small brands like Cliff, Double Bull, UFO, and Buffalo were also there, that sold trousers. There was a particular gentleman whom we used to call Ahmedbhai. He was the owner of the Cliff brand. His office was in the Shah and Nahar Industrial Estate in Lower Parel. For months I would drop in at his office and spend hours waiting, before he called me in. It was a frustrating experience. That was the time I promised myself that no one would have to wait outside my office and waste his time. I also used to regularly set up my own stall at various textile exhibitions and fairs across the city. Apart from getting in touch with potential customers, it was a good way to keep a check on what others in the industry were up to. These fairs were usually hosted in large hotels. But often I didn't have the money to pay for the high fees. I would then rent a small hall or a shop just outside the hotel and wait for people visiting the fair inside to drop by on their way. Those were truly trying times. But I was fortunate enough to have the unstinted support of two family members. 77

My wife, Sangita came with me to these exhibitions and that was huge encouragement. And my younger brother, Anil too started helping me in whatever I was doing. Anil in all ways fits into the classical definition of the younger brother. He has full faith in my abilities and never hesitated to join me whenever I needed his help.

Anil Agarwal MADRAS ALUMINIUM

Anil Agarwal, 52, dreams of being the best mining and metal-maker in the world. To get there, he thinks three to five years is a "reasonable" time. Surprised? Those who know him are not. Agarwal, executive chairman and founder of the London Stock Exchange-listed Vedanta Resources, is growing at a very fast pace - from Rs 15 crore (rs 150 million) in 1985 to nearly Rs 20,000 crore (Rs 200 billion) in the ninemonth year to 2006. Agarwal's is a classic story of a small trader becoming metal king. The secret, he says, lies in believing in himself and in the country's potential. "Also, I am fortunate to have wonderful people with me. Without them, it would not have been possible for me to reach this level," he told Business Standard after announcing the acquisition of Sesa Goa on Tuesday. Agarwal came to Mumbai when he was 19 after completing his matriculation from Patna in 1975. He was so impressed with the grand edifice of the The Oberoi that he decided to lodge himself there as he set out to pursue his career as a scrap trader. But due to his poor command over English, he had to seek the help of a friend to book himself in the hotel. Once there, he would eat out so the cost would not exceed the daily rent of Rs 200. Today, his annual salary is over Rs 4.5 crore (Rs 45 million), not to mention his stock options and shareholding. He owns a home in Mayfair, London, drives a Bentley, wears the most expensive suits and has the best staff in the industry working for him. But all this has not changed him. "I am a proud Bihari," he says. "But I have done nothing for Bihar and Jharkhand. In fact, this was the added attraction for my interest in Sesa Goa, which has a prospective licence in Jharkhand," he says. An ambitious Agarwal wants to have a production capacity of 1 million tonnes each in his three areas of business - copper, aluminium and zinc, and wants to set up a 10,000 MW power plant. "We are investing $13 billion to achieve the target and are half way through [to it]," he says. It was this ambition that drove him to launch a hostile takeover bid to acquire Indian Aluminium (Indal) from the American giant, Alcan, which failed. Instead, he bought the ailing Madras Aluminium. Later, he acquired Bharat Aluminium and Hindustan Zinc from the government and purchased India Foils from the Khaitan group of Kolkata. In all these cases, the Birla group was one of the contenders. On his part, Agarwal shrugs off the theory of rivalry with the Birla group. "There is enough water in the sea for every fish," he says. As of now, the uncrowned non-ferrous king of the country is making his foray in the ferrous market. Sesa Goa has a reserve of 207 million tonnes of iron ore and produces 10 million tonnes a year, and has mines in Orissa, Karnataka and Goa. He differs with those who believe that he paid a hefty premium.

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"The premium of 16 per cent is actually cheap, compared to the international instances where the acquirer pays 40-50 per cent more than the market price," he says. With Sesa Goa in his fold, he seeks to be an integrated metal junction with interests in copper, aluminium, zinc, lead and iron ore. As for failures, he has had his share. His acquisition of India Foils has proved to be unwise. The company is still bleeding. But he is candid in confession. "India Foils contributes a small portion to the group's overall turnover. We may disinvest our interest when we get the right price," he says. Iron ore exporters, however, are a happy lot with the company coming under the Vedanta fold. They feel they now have a strong man to fight the steel lobby in the corridors of policy making.

Subhash Chandra ZEE NETWORK

The Essel Group website calls him a "karmyogi", defined as someone who believes in action rather than worry about its consequences. Critics say that Subhash Chandra, chairman of the Essel Group with interests in media, packaging, theme parks, films, multiplexes, education and online lottery, was being true to his "karmyogi" tag when he announced setting up of the Indian Cricket League (ICL) earlier this week. In other words, he's not done his homework and that the cricket league business is a tough nut to crack. At a press conference in Delhi, the 56-year-old founder and chairman of Zee Telefilms announced that the cricket league will be floated with a corpus of Rs 100 crore (Rs 1 billion) and offer top prize money of Rs 4.4 crore (Rs 44 million). The league will have six teams of 14 players each and 35 academies across the country to pick talented cricketers. He added that there would be no restriction on the ICL players if they were selected by the Board for Control of Cricket in India (BCCI) to represent India. Company insiders deem it a masterstroke by Chandra for several reasons. For starters, he is clearly creating content for two of his sports channels -- Zee Sports and Ten Sports (Zee picked a 50 per cent stake in the latter) which have no cricket telecast rights to boast of. "It is a brilliant strategy because with cricket comes merchandise, endorsements and the works. Besides, the timing is critical as the Indian team has disappointed people," says a company source. To be sure, the media czar, who dresses in Armanis even as he puffs Bidi No. 502, always stood out for his radical thinking. His journey from Adampur village in Hisar, Haryana, to the celeb circles of Mumbai is well known. He started out by making money in rice exports to Russia. In 1982, he set up a laminated tube unit after visiting a packaging exhibition. Today, Essel Propack is the world's number one packaging company. He saw amusement parks abroad and, back in Mumbai, Essel World and Water Kingdom were born. He started dreaming about owning a TV channel after a visit to Doordarshan. In October 1992 he launched Zee TV by striking a satellite deal with Richard Li, then owner of Star TV. With a turnover of Rs 1,400 crore (Rs 14 billion), Zee Telefilms is among the largest media companies in India today. Media industry experts say that Chandra is a visionary. Still, not many are buying into his cricket league vision. Says Rohit Gupta, executive vice president, Sony Entertainment Television: "As a share of voice strategy, the ICL announcement is sound. It made headlines and newspapers and TV channels covered it. But I don't know if this will work. 79

Yet others say that cricket is not a league game anywhere in the world. "There is just one national team that works," says a media expert and a former Zee executive. Besides, that India is a cricket-loving nation is an absolute myth. "If we did, we would have watched a good game, say, between Australia and England. Indians are not fanatic about the game. They're only interested in the cricket stars they can idol worship," says the managing director of an advertising agency that's been closely associated with cricket. Clearly, the belief is that nobody will watch the league matches And no viewership means no advertisers. "If it had to work it would have worked at the Ranji trophy level," he adds. But Chandra's not to be underestimated. A former Zee CEO says he may be impatient but he's very sharp. Besides, he's not averse to taking risks. And not without reason would he have been ranked 746 among the world's richest people by Forbes last year.

Ashok Soota- MIND TREE CONSULTING

Ashok Soota is so passionate about software that he has named one of his two dogs Linux. This commitment has paid off for the man who has nurtured MindTree Consulting and seen it through a highly successful listing. In a scenario where the stock markets are being ravaged across the world, the MindTree stock which debuted on BSE on Wednesday listed at a premium of more than 40 per cent while the other stocks which opened for listing traded below the listing price. Soota is one among the many stalwarts who came out of the Wipro stable to start MindTree in 1999. While he has always held that he stepped out of Wipro to pursue his entrepreneurial zeal, he was no less successful at Wipro. As president of Wipro Infotech from 1984 to 1999, he spearheaded the company's growth from a $2 million business to a $500 million one. While this is history, the way MindTree has been shaped in the past six years has amazed everybody. With bluechip investors such as Capital International and Walden backing the start-up, MindTree crossed the $100 million mark in six years flat. In building MindTree, Soota was fortunate to have the backing of a stellar team of top software and management professionals like Subroto Bagchi, K Krishnakumar and S Janakiraman from Wipro, who quit along with him to form the founding team. MindTree's success is all the more remarkable because it had its share of turbulence as it got caught in the dotcom bust just a year after it was launched. The management bandwidth and refocusing from the dotcom space to the IT services and R&D outsourcing areas was critical. This kept it going and eventually helped it come out in shining colours. Affable and calm, Soota is the classical technology man, speaking faster than most and spouting ideas faster than his words can carry. In addition to driving MindTree's growth, he was the first president of Confederation of Indian Industry from the IT industry, during which period he contributed enormously to the growth of 'Brand India'. He has also served on the Indian prime minister's task force for development of the IT industry and been a member of the Advisory Council of the World Intellectual Property Organisation in Geneva. Just months before the listing, when the marketplace was thick with rumours that MindTree was a prime takeover target, Soota was assertive that he would not sell out. As one of his core team members put it: "MindTree is his swan song. We all want to leave our mark on the IT industry and there is no way we will sell out." 80

Indian IT experts are pointing to MindTree and asserting that if Wipro-Infosys have formed the first wave of the Indian IT attack, then MindTree is likely to be at the head of the second wave. Hence it is not surprising that Soota has set before MindTree the goal of reaching the magical $1 billion mark.

RAMAKRISHNAN- MARKETICS TECHNOLOGIES Irrespective of whether you think marketing is a science or an art, data is critical to the debate. Think about it, data is necessary to build case for either situation. But using it is easier said than done; pick up any market research report and see what you make of those figures laid out with vision-blurring, precision. Sensibly, companies have now started outsourcing this data-crunching exercise to specialists. This is where 34year-old S Ramakrishnan - 'Ramki, as he likes to be called - CEO Marketics Technologies, comes in. His venture is to get sense out of data, and it's an interesting story, read on: The late Nineties is a good start, just around when the Internet and dotcom buzz started. Ramakrishnan - by then well entrenched at P&G India's brand management team, did something that was not so unusual for many raring young individuals at that time - turned a 'Net' entrepreneur. Catalyst for the atypical decision is S.P. Jain Institute of Management & Research, Mumbai, from where Ramakrishnan claims the bug got him: "It was a rather unorthodox MBA training that encouraged entrepreneurial abilities." Part of the new-technology wave, where people across categories harboured sweeping visions of what the Net could do, Ramakrishnan egged on by his friends, also co-founders - Vinay Misra and Shankar Marwada launched Intercept Technologies in 1999. Prophetically christened, to say the least, we see Intercept Technologies being cut in its stride by the dotcom bust. All we hear from Ramakrishnan of the crash, is the furious effort to reboot. The trio knocked around with some ideas, unwilling to call it quits: "After all, it were our clients - the dotcoms that went bust, we still had a concept going," Ramakrishnan says - asserting all the reasons why things should have worked. To cut it short, Marketics Technologies is what we now know of, of the trio's act of defiance - which is gearing up to be a Rs 100-crore (Rs 1 billion) entity. There appears a huge thrust on role definition, for instance, the company works on latent marketing skill, initially concentrates all efforts on the US market and works on its belief in the Net and uses it as a core platform for interface. End product is well-analysed, marketing intelligence given to clients to draw decisions from. Significantly, Marketics has eschewed from tapping the market for funds, "we started on a shoe-string budget, which involved some of us not taking our salary for sometime," says Ramakrishnan. He's game to various options in future, including short-time collaborations. But most critical of all these decision has been the collective choice to stay focussed on the US market - initially: "It's easy to be lured and go tapping every 'expression of interest,' that comes along. But not all turn out to be solid business propositions. We decided to conserve our talent to make an impact in one area, before we could address other geographies," says Ramakrishnan. Today, Marketics Technologies has made a foray in UK and is seeking to spread into Europe and is even looking at prising open the home turf here in India. 81

On board are some of the top-Fortune 100 companies in different industry segments. Non-disclosure agreement prevents Ramakrishnan from actually bandying client names, save a few such as Universal Studio and RCI (part of Windham Worldwide). Finally, it's interesting to note that Marketics has managed to capture the US market with just 10 people servicing (including Ramakrishnan), and two back offices in India. Interestingly, Coimbatore is chosen for its 'surprising' cost-effectiveness in comparison to other Metros, "we found excellent technical talent there," says Ramakrishnan. There is also a big office at Bangalore and all together the team is 250-strong, winning against all the odds.

Dabur
The doorstep 'Daktar' The story of Dabur began with a small, but visionary endeavour by Dr. S. K. Burman, a physician tucked away in Bengal. His mission was to provide effective and affordable cure for ordinary people in far-flung villages. With missionary zeal and fervour, Dr. Burman undertook the task of preparing natural cures for the killer diseases of those days, like cholera, malaria and plague. Soon the news of his medicines traveled, and he came to be known as the trusted 'Daktar' or Doctor who came up with effective cures. And that is how his venture Dabur got its name - derived from the Devanagri rendition of Daktar Burman. Dr. Burman set up Dabur in 1884 to produce and dispense Ayurvedic medicines. Reaching out to a wide mass of people who had no access to proper treatment. Dr. S. K. Burman's commitment and ceaseless efforts resulted in the company growing from a fledgling medicine manufacturer in a small Calcutta house, to a household name that at once evokes trust and reliability. Mile stones: 1884 Birth of Dabur 1896 Setting up a manufacturing plant Early 1900s Ayurvedic medicines 1919 Establishment of research laboratories 1920 Expands further 1936 Dabur India (Dr. S.K. Burman) Pvt. Ltd. 1972 Shift to Delhi 1979 Sahibabad factory / Dabur Research Foundation 1986 Public Limited Company 1992 Joint venture with Agrolimen of Spain 1993 Cancer treatment 1994 Public issues 1995 Joint Ventures 1996 3 separate divisions 1997 Foods Division / Project STARS 1998 Professionals to manage the Company 2000 Turnover of Rs.1,000 crores 2003 Dabur demerges Pharma Business 2005 Dabur aquires Balsara 2006 Dabur announces Bonus after 12 years 2006 Dabur crosses $2 Bin market Cap, adopts US GAAP Milestones to success Dabur India Ltd. made its beginnings with a small pharmacy, but has continued to learn and grow to a commanding status in the industry. The Company has gone a long way in popularising and making easily available a whole range of products based on the traditional science of Ayurveda. And it has set very high standards in developing products and processes that meet stringent quality norms. As it grows even further, Dabur will continue to mark up on major milestones along the way, setting the road for others to follow. 82

1884 - Established by Dr. S K Burman at Kolkata 1896 - First production unit established at Garhia 1919 - First R&D unit established Early 1900s - Production of Ayurvedic medicines Dabur identifies nature-based Ayurvedic medicines as its area of specialisation. It is the first Company to provide health care through scientifically tested and automated production of formulations based on our traditional science. 1930 - Automation and upgradation of Ayurvedic products manufacturing initiated 1936 - Dabur (Dr. S K Burman) Pvt. Ltd. Incorporated 1940 - Personal care through Ayurveda Dabur introduces Indian consumers to personal care through Ayurveda, with the launch of Dabur Amla Hair Oil. So popular is the product that it becomes the largest selling hair oil brand in India. 1949 - Launched Dabur Chyawanprash in tin pack Widening the popularity and usage of traditional Ayurvedic products continues. The ancient restorative Chyawanprash is launched in packaged form, and becomes the first branded Chyawanprash in India. 1957 - Computerisation of operations initiated 1970 - Entered Oral Care & Digestives segment Addressing rural markets where homemade oral care is more popular than multinational brands, Dabur introduces Lal Dant Manjan. With this a conveniently packaged herbal toothpowder is made available at affordable costs to the masses. 1972 - Shifts base to Delhi from Calcutta 1978 - Launches Hajmola tablet Dabur continues to make innovative products based on traditional formulations that can provide holistic care in our daily life. An Ayurvedic medicine used as a digestive aid is branded and launched as the popular Hajmola tablet. 1979 - Dabur Research Foundation set up 1979 - Commercial production starts at Sahibabad, the most modern herbal medicines plant at that time 1984 - Dabur completes 100 years 1988 - Launches pharmaceutical medicines 1989 - Care with fun The Ayurvedic digestive formulation is converted into a children's fun product with the launch of Hajmola 83

Candy. In an innovative move, a curative product is converted to a confectionary item for wider usage. 1994 - Comes out with first public issue 1994 - Enters oncology segment 1994 - Leadership in health care Dabur establishes its leadership in health care as one of only two companies worldwide to launch the anti-cancer drug Intaxel (Paclitaxel). Dabur Research Foundation develops an eco-friendly process to extract the drug from its plant source 1996 - Enters foods business with the launch of Real Fruit Juice 1996 - Real blitzkrieg Dabur captures the imagination of young Indian consumers with the launch of Real Fruit Juices - a new concept in the Indian foods market. The first local brand of 100% pure natural fruit juices made to international standards, Real becomes the fastest growing and largest selling brand in the country. 1998 - Burman family hands over management of the company to professionals 2000 - The 1,000 crore mark Dabur establishes its market leadership status by staging a turnover of Rs.1,000 crores. Across a span of over a 100 years, Dabur has grown from a small beginning based on traditional health care. To a commanding position amongst an august league of large corporate businesses. 2001 - Super specialty drugs With the setting up of Dabur Oncology's sterile cytotoxic facility, the Company gains entry into the highly specialised area of cancer therapy. The state-of-the-art plant and laboratory in the UK have approval from the MCA of UK. They follow FDA guidelines for production of drugs specifically for European and American markets. 2002 - Dabur record sales of Rs 1163.19 crore on a net profit of Rs 64.4 crore 2003 - Dabur demerges Pharmaceuticals business Maintaining global standards As a reflection of its constant efforts at achieving superior quality standards, Dabur became the first Ayurvedic products company to get ISO 9002 certification. Science for nature 2005 - Dabur aquires Balsara 2006 - Dabur announces bonus after 12 years 84

2006 - Dabur crosses $2 bin market cap, adopts US GAAP. Reinforcing its commitment to nature and its conservation, Dabur Nepal, a subsidiary of Dabur India, has set up fully automated greenhouses in Nepal. This scientific landmark helps to produce saplings of rare medicinal plants that are under threat of extinction due to ecological degradation. KANVAL SACHDEV SU-KAM INVERTORS How do you take Rs 10,000 and convert it into a Rs 200 crore (Rs 2 billion) company that is all set to complete a major US acquisition in a year? Well you need to be taken hostage by your client, be locked in a room for a few hours and also promise to give up your bike in exchange for a job half done - at least that is what Kunwer Sachdev, CEO of Su-Kam, a Rs 200 crore Delhi-based company engaged in the business of power inverters UPS and batteries says as he recalls the time when he began his entrepreneurial venture in the early '90s. Kunwer Sachdev started out as a cable TV operator and recalls an incident that took place in his initial years, which incidentally was a turning point in his career. CEO of Su-Kam, Kunwer Sachdev told Moneycontrol, "During the early years of struggle I was into the cable TV business and did not have any domain knowledge. I took up any and all types of projects from people. There was one such project that I could not complete on time. It was for a hotel and seeing that I could not deliver, the owner locked me in a room. I stayed put in the room for two hours until he opened the door and asked for his advance money back. But since I had spent that in buying the equipment, I told him to keep my bike instead should I fail to deliver. Eventually I did complete the job and he was happy. Now he is a very dear friend of mine," recalls Sachdev. They say entrepreneurs are not taught, they are born and perhaps Kunwer Sachdev is one person who perfectly fits this theory. Additionally, as any entrepreneur would testify, failure is not only an important ingredient but also a very important aspect in any successful venture. "When I started making invertors in 1997, we experimented with new technologies. We didn't have any idea what we were doing and we kept borrowing components from different products. Money doesn't matter in any entrepreneurship, I started with only Rs 10,000. There were a lot of negatives in the beginning. I remember going to a bank for a loan of Rs 5,000, and they took so much time that I said forget it. From that day I didn't go to banks, I have raised funds in my own way," says Sachdev. Early this year, the $200 million Reliance India Power Fund, picked up a 20 per cent stake in Su-Kam in a Rs 45 crore (Rs 450 million) deal. Su-Kam has already made inroads into world markets such as Asia, Africa, Middle East and the Pacific Region and is now looking to make a strategic US acquisition. "We are looking to acquire a company in the US in the next one year. I haven't seen any company that we might want to acquire yet, but the acquisition will be complete in a year. Deadlines are very important for me," says Sachdev. Sachdev is confident of scaling up his operations in India as well. "We will keep on scaling up. My balance sheet for the last 6 years shows more than 100 per cent growth in each year. It has been a challenge for me to sustain that year after year. This year we installed invertors on all major cell sites across the country, and we have a big order from Reliance Infocomm. We are in talks with Bharti and other telecom players. Next year, I plan to do Rs 1,000 crore (Rs 10 billion) business, and I can see that happening," concludes Sachdev. 85

CAPTAIN GOPINATH AIR DECCAN Captain Gopinath needs no introduction. He is considered the father of low cost air travel in India. Some say he is a visionary; he created a whole new market when he launched India's first low cost airline Air Deccan. Others say, he has the daring to enter a sector where even the Tatas failed. Even his competitors admit that he has succeeded in giving ordinary Indians wings. But what he is not known for is running a profitable and sustainable enterprise - at least not yet. So, does Captain Gopinath want to be a trailblazer or a successful entrepreneur? Andrew Miller, CEO, Centre for Asia-Pacific Aviation, told CNBC-TV18, "I think the vision was very wide, very early on. He is obviously a first mover and sometimes first movers can be 5-10 years ahead of their time." Managing director of Air Deccan, Captain Gopinath explains, "People keep asking me if I'm an evangelist. I'm not, it is more like a evangelical zeal that I have. It so happens that my dreams and the dreams of Air Deccan are aligned with the nation's dreams. It is not that I am just madly trying to get market share. We had one flight between Mumbai and Delhi once upon a time about two and a half years ago. Jet had about 10 flights and Indian Airlines had 12 flights. They put a flight half an hour before my flight and just slashed the price. So, that they could increase fares in the other sectors and that is what they did." "They increased the fares in all the other Mumbai-Delhi sectors but brought down the fares on that particular flight, when I was flying, to bury me in the sand. The only way to stop that from happening was to increase my size and my scale, which also is one of the key elements of low cost. You cannot be a low cost airline if you have two aircraft, you need a certain size. I don't consider Air Deccan as a regional airline, we are a national airline going to many regions." So, when some say he is more aviation-politician than aviation-entrepreneur, have they got the wrong impression? Captain Gopinath feels that it's a perception that people have but he points out that he's as much in the business of building a great airline as anyone else. He understands that people with a bigger corpus of funds and name behind them - like the Tatas - were not given this opportunity. So, he realises he has to figure out how this system works and fast - because now the skies are more open than before. Even saints have their share of critics. So, while people like Warwick Brady, CEO, Air Deccan admires him for his vision and says he is given the freedom to operate and hire and fire at will, there are others who think, he's not connected enough to his staff. Kapil Kaul, CEO (India), Centre for Asia-Pacific Aviation, says, "I think he is intellectually more stronger than what the market thinks of him and I think he is a visionary. The problem in Air Deccan and the vision of Gopinath is that he is somewhere not connected to the people who work with him." The man has more labels than most other brands. He is considered visionary, a trail-blazer, a pioneer but where does the Air Deccan brand figure in all of this? Bill Larsen, director, Landor Associates feels, "He's very straightforward, he does not have the loudness or the dynamic kind of personality that you imagine, which I think in this market is something that is probably a very positive attribute." Even Captain Gopinath himself says, "We are not in the entertainment business, we are not in the fashion business of showing off models or in the business of restaurants or in multiple channels." 86

And no, this is not meant to be a dig at his far more flamboyant peer Vijay Mallya. He just feels that it is easy to lose the focus of your business but he's clear about his business model - his is a transportation business. He emphasises, "We want to carry large numbers of people from point A to point B on time. So, anything that comes in its way is a frill for me." Except that now-a-days, being on time is a frill at Air Deccan. The airline may be providing fares, which are 1530 per cent cheaper than its competitors but its also building a reputation of not being punctual. Captain Gopinath says, "Increasingly, in the last two years, this aspect of our flights getting delayed and cancelled has given us this reputation. I think part of it was our internal issues in terms of the way we have to manage it - the operational efficiencies, the engineering efficiencies and some of it was the nature of the business we are in because of infrastructure, because of the various problems that you face when you want to get an aircraft flying on time. I will tell you what Air Deccan has done about it.' "About three years ago, we had decided that we cannot be low cost and be small. It is not possible because the competitors were trying to kill us by bringing down the fares in the sectors we are flying and increasing the fares in other sectors, so we had to expand. And when we wanted to expand the infrastructure - there was a disconnect with the government (Airport Authority of India) and our own ability to manage. The first we have sorted out more or less." He adds that even today when he has a fleet of 42 aircraft, he doesn't have a hangar of his own. He has to rely on his competitors' hangars. In Kolkata, because of a bird hit, an engine had to be changed in pouring rain. His staff operates in almost primitive conditions, where they have to battle mosquitoes and the rain to change engines at night and where even basic facilities like toilets are lacking. He says, "Right now, after persistently and relentlessly going to the government, I got land in Chennai after two and a half years. Even as I speak the drawings have not been cleared for commencing construction (of the hangar)." Shouldering the task of running the airline is a good team of people. Warwick Brady joined in 2005 as Air Deccan's COO. He brought in a world class professional team. He says, "I turned the organisation upside down, in terms of people's thinking, the processes, the systems, we have got rid of things like crew mills, we didn't do transit cleaning with external parties, we do that ourselves. Everyone in India said, you cannot do this, it is not possible, we cannot have the Captain cleaning the plane, we cannot have pilots doing this, we cannot have ground operations doing that and all this sort of nonsense which of course is not true. We increased aircraft utilisation and made it much more efficient." So, much so that, the airline has been running on time for the last twelve weeks 'but I think it will take another 3-4 months for the perception to change.' Though despite this, at the moment, the balancesheet is not half as good. Losses made in the last 15 months have eroded half of Air Deccan's networth. Globally, low cost pioneers like Europe's Ryanair have stuck to one kind of aircraft and focused on regional routes, Air Deccan has done the opposite. Add to that, the high infrastructure costs and the lack of secondary airports in India and Deccan's entire low cost model seems clouded. Fuel makes up 40 per cent of the cost and infrastructure costs are fixed, so there is about 15-20 per cent margin that could be played around with - by everyone. So, what is Air Deccan's margin that they can make profits out of - especially when they call themselves a low-cost airline. He sees, "There is a lot of propaganda here. I don't think people really understand this. You are a low fare airline because you are a low cost airline. The fundamental difference comes in the way we do business. Of course, the leasing costs are same or the finance cost for the aircraft acquisition is same, fuel cost is same, infrastructure is same, salaries are same, maintenance is same." 87

Air Deccan has been penny pinching - the number of employees per aircraft has reduced from an industry average of 120 to 70. Aircraft utilisation has gone up by two hours per day to 11, routes have been rationalized and the cost per seat has gone down by 70 paise to Rs 2.60. But even this hasn't silenced the protests. Professor, Ohio State University, Nawal Taneja explains, "The desire for growth must be balanced against such things as profitability to the airline and should also be able to satisfy your shareholders. You also have to be able to satisfy your labour." Air Deccan also operates helicopters, they operate a ATR 42, a ATR 72 and Airbus A320. They also operate to many destinations. Executive chairman, Centre for Asia-Pacific Aviation, Peter Harbison says, "It really likes to focus on regional routes. It obviously has an edge on its competition. It is at a less competitive market place at the moment even though the passenger numbers are large." Captain Gopinath agrees and says, his regional routes are doing better than the trunk route. But his critics feel that he's attempting to become a national player too fast. He's adding two new aircraft every month and he rebuts this with the reasons that he has to build a company that people want to work for. He finds it difficult to find pilots who want to fly regional routes in smaller aircraft because they all want to fly Airbuses and Boeings. But the airline has to make money to survive and revenues can be made from other sources as well. Captain Gopinath says, "I am just short of about $10-12 per seat. My average fare for Bangalore-Delhi is about Rs 4,500. Three years ago, Jet Airways and Indian Airlines were selling Bangalore-Delhi fares at Rs 12,000 per seat. Today, I wanted to realize Rs 500-Rs 600 more per seat." Ryanair has proved that there is money to be made from everything - food on board, check in luggage, website sales and even airport parking. Air Deccan already earns 9 per cent of its revenues from such ancillary services and hopes to take that to 26 per cent soon. Former chairman, Ryanair, Patrick Murphy says, "The secret comes in terms of how you make revenue, how you maximize revenue on board from the passengers you are carrying. But more critically, I think Air Deccan will learn to say how can we make more money from the passengers we carry - not necessarily in terms of the fare they pay but in terms of on- board services or the amenities or the additional products that can be sold to the customers. So, that is part of the secret of the success of Ryanair."

AJAY SINGH- SPICE JET He may be setting a new benchmark in low cost airline operations with SpiceJet but it is Avani, his 10-year-old daughter, who ends up dictating terms to its 40-year-old director. It was she who had him shave off his moustache two years ago, and old-timers still remember the late Pramod Mahajan's close ally with a moustache, and not without it. That's because Ajay Singh mostly stays away from the usual Page 3 socialising. "He is an out-and-out family man," says one of Singh's closest friends. Endorses Singh himself, " I try my best to keep my weekends free to spend with my family." At a time when most airlines are bleeding, SpiceJet has attracted $118 million as investment proposals from the country's second-largest conglomerate, the Tata Group, the world's largest aviation financing firm Texas, private equity major Istithmar PJSC, and renowned invesment banker Goldman Sachs.

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A technology graduate from Indian Institute of Technology - Delhi who studied law from the University of Delhi and did his MBA from Cornell University, Singh might wonder how he ended up as a director with a low cost airline. "Life is all about learning new things, new businesses", he avers. So, he wound up with a career spanning companies such as SpaceAge Internet (where he was CEO) and Cranes Software International (a company listed on BSE, on which, as director, he advised on strategic issues). Yet, it was his proximity to Mahajan that propelled him into the limelight. With Mahajan, he served the government in various capacities - as director of the Delhi Transport Corporation, and as consultant to the ministries of information technology, and information and broadcasting. "I learnt a lot from Mahajan. It was a delight to work with him. He was a great human being with unlimited dynamism," Singh recollects. From politics to private airlines, it seems nothing can stop Singh from delivering his best. "We selected successful low cost models like RyanAir and EasyJet. SpiceJet is the result of the right team, the right brand and the right execution," he points out. Any mistakes? "The only mistake," he smiles, "could be not raising money when the stock market was at its peak 12 months ago." SpiceJet raised $80 million of the $118 million investment proposals during the second week of December 2006. Singh sees SpiceJet as the largest, most dominant of the low cost carriers over the next five years. This dominance comes with profitability. He explains, "Our cost is 15 per cent less than budget carrier Air Deccan and 45 per cent less than full service carrier Jet Airways." His positioning is extremely focused. "In the next five years, SpiceJet will be the McDonald's of aviation. That's how we want to position SpiceJet, as a great flying experience available at cheaper prices." His one indulgence apart from Avani and SpiceJet is Bollywood and Hollywood cinema. "I've seen Dhoom 2, Baabul and the James Bond movie. I'm waiting for Kabul Express now," says Singh, boarding the SpiceJet for another busy day in Delhi.

Sameer Nair - Star Plus

From making advertising films to selling hot dogs, to leading the country's most popular entertainment channel, Sameer Nair has come a long way. The 41-year-old CEO of Star Entertainment India, shot into the limelight as the programming head of Star Plus when he got Amitabh Bachchan to host Kaun Banega Crorepati (KBC) in 2000. Coupled with family sagas like Kahani Ghar Ghar Ki, KBC turned around the fortunes of Murdoch's Hindi entertainment channel. Star Plus is where it is today, thanks to his creative genius, say Nair's friends and foes alike. Balaji's Kyunki Saas Bhi Kabhi Bahu Thi was approved, it appears, just on the basis of its whacky title. And now, Nair is credited with yet another masterstroke, signing on Hindi film industry's biggest star Shah Rukh Khan to host KBC. Star's critics argue Nair had no choice but to look for a dramatic solution to stave off competition from Zee that's been challenging Star Plus' dominance in the 9-10 pm prime time slot. The viewership and advertising pie is expected to split further during the World Cup Cricket that commences on Sony in February 2007. "Imagine the ad-spend Star will be able to block. The show could take away Rs 150 crore 89

(Rs 1.50 billion) from the total advertising pie of the electronic media in the next few months," says an advertising sales head of a rival channel. Besides, SRK's popularity in overseas markets such as the UK, Canada and even Indonesia could help Star generate substantial subscription revenue. The company also has massive plans to monetise the show on the Net as well as through other interactive initiatives. Does Nair also view it as a masterstroke? "Well, we had to think of a solution when Amitabh Bachchan declined to do KBC. We had to take the show to the next level. And Shah Rukh Khan is definitely on any list of one," says Nair. For Nair, who joined the Star Network to do promo scheduling for Star Movies, keeping Star Plus ahead of its rivals is a passion. It's the same passion with which he reads military history books that give him ideas on strategies. It's also the same passion with which he launched his catering business in Mumbai after studying hotel management in Chennai. "It was a chastening experience," laughs Nair adding, "It required serious money to achieve scale. I folded up in five months." After a brief stint at UDI Yellow pages, Nair landed up at Star and the rest is history. Few of Nair's colleagues, current and former, admire his managerial qualities. He's not a people's person and he's ruthless. "Let people say what they wish to. I think I have a very good team and I keep it very happy", says Nair. His biggest dream is to make a feature film one day. Will he do it? "They don't let you in heaven unless you make a film. Do I have a choice?"

RAJIV CHILAKAPUDI- GREEN GOLD ANIMATION PVT LTD It has been an eventful five years for 32-year-old Rajiv Chilakalapudi ever since he began to nurture his Hyderabad-based animation company, Green Gold Animation Pvt Ltd. The company that started with just four people in 2001 is now 70-strong. But Chilakalapudi says the employee strength will rise to 1,000 in the next three years. As managing director of Green Gold Animation, he speaks at major business forums in India -- like the ones organised by FICCI, NASSCOM, etc -- as an expert in the field. The products from his company -- Vikram aur Betal and Krishna are aired on Cartoon Network and Doordarshan. More programmes are on the way, he assures. In a candid chat with rediff.com, Rajiv speaks about how he made his passion a success. Cartoons, a passion even as a child Like all kids, I too was really fascinated by cartoons as a child. I remember getting up very early in the morning on Sundays to watch the Disney cartoons on Doordarshan. I used to wonder why there were only Mickey Mouse and Donald Duck and no Indian characters. Though I was not an artist, I had lots of ideas then and there. I went on to do engineering as there were no courses on animation back then.

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After my graduation from Osmania University in 1995, I went to the USA to do Masters in Computer Science. I worked as a software engineer in the US for three years. All through my studies, and also later on, my desire was to be in the animation industry. Three years into my job as a software engineer, I began looking at the animation industry with more interest. I found that there were not many animation companies in India, and saw a large potential in the market. Learning animation I saved as much money as I could in those three years and went to an animation school in San Francisco. I then knew animation was what I wanted to do in my life. What I was doing till then was just mundane work where there was no creativity. I didn't enjoy what I was doing. I decided to come back to India. It was intuition that gave me the courage to chuck my well paying job and come back to India to start my own animation company. My parents were shocked. My father flew down to the United States to dissuade me. He asked me, 'Are you crazy? Why do you want to do this?' I managed to convince him how passionate I was about my plans. Then he wanted to see my business plan. When I showed him my plan, he felt it was a good one, that there was future in it and that it was worth taking the risk. I came back not only because India is a huge market but also because I love my country. I am very patriotic and I believe that India will be a superpower soon.

Animation company in Hyderabad I didn't waste time after I reached Hyderabad. I looked for a place immediately. We started with four people. We could not find any animators then. So, we recruited technical people. I not only invested whatever I had saved but my father's and brother's money too. Altogether my initial investment was about Rs 75 lakh (Rs 7.5 million). We needed Rs 50 lakh (Rs 5 million) for the machinery itself. When we started out, the machinery was very expensive. Even the software was worth Rs 8 lakh (Rs 800,000), but all that has come down now. Green Gold Animation Pvt Ltd The year was 2001. We named our company Green Gold Animation Pvt Ltd. I wanted a colourful name. Green is nature and nature is associated with creativity. And, gold is Goddess Lakshmi. What we did first was create a presentation for a US-based corporate though it was actually not our forte. But initially we decided to do all the jobs that came our way. Although we did a lot of animation for advertisers, nobody was interested in any animation products, I found. So, we decided to create our own product. Created an alien named Bongo Although it was a big risk, we created Bongo. It is an animation-cum-live action television series more on the lines of the alien in the film, Koi Mil Gaya. Bongo is a friendly alien who helps people. We spoke to many TV channels but nobody was interested; every one wanted only saas-bahu serials. 91

We then approached Doordarshan. Luckily for us, they were looking for children's programmes then. Our programme was first aired on Doordarshan by the end of 2004. Although there were gaps in between, it still is shown on Doordarshan every Saturday afternoon. It was a great day for us when Bongo was first aired on Doordarshan. We were all eagerly waiting; the titles came and then the power went off. It was an anti-climax. The response also was amazing. It was at number three among all the kids' programmes. Deal with Cartoon Network Then we approached Cartoon Network with the idea of Vikram aur Betal. They were not sure about the commercial success of the idea. So they asked us to develop the product and show it to them. The risk was ours. As we believed in our quality, we made the entire show and delivered it to Cartoon Network. They loved the programme and bought it. That was again, 2004. Vikram aur Betal was a turning point for us. It gave us a huge mileage. Here comes Krishna! After Vikram aur Betal, we spoke to Cartoon Network about the tales of Lord Krishna. They accepted that too. The first part of Krishna -- about his birth-- was shown on Janmashtami day this year. It is a 75-minute programme which will be aired on Cartoon Network every three months. It is more like a feature film. We are also making a film on Chhota Bheem. The struggle We struggled immensely in the initial years. For five years, there was nothing but work for us. When we create original content, it is very difficult to sell it. If we can't sell a product, what will happen to the company? It was a very big risk we were taking. As the market was at a nascent stage then, we thought we would suffer now so that the returns would come later. Our patience paid off as today we are a brand name in the animation industry. From India, we are the number one animation supplier to Cartoon Network. Now, we have 70 people working with us. Our revenue is around Rs 2 crore (Rs 20 million) this year. We expect to double our revenues ever year. Now the sky is the limit. I have faith that one day we will make a world renowned movie and will make India proud of us. Indian content is as yet unexplored and in the future you will see Indian stories being watched all over the world. People are tired of seeing the same old Jack and Jill stories. Indian characters are unique and they will rule the world soon. The first successful animation film was The Jungle Book and it was based in India and all the characters are Indian and have Indian names. Our first animation feature film of 100 minutes will be on Lord Ganesh and it will be released on the next Ganesh Chaturthi in 2007. We want to start animation schools all over India as there is severe manpower shortage and a lot of poaching takes place now, which is not healthy for the industry. We may require 1,000 people in the next three years. Our ambition is to be the number one in the world like Walt Disney. In the next ten years, we want to be a global player. 92

Lalit Suri- HOLIDAY INN GROUP OF HOTELS Jyotsana Suri would have been preparing a party for his 60th birthday in November this year. Instead, the Suri family will probably mark the day paying him homage. For Lalit Suri succumbed to a massive cardiac arrest in London, where he was on a quiet break with his wife. In turns aggressive and taciturn, Suri was the quintessential Delhi entrepreneur, a product of the licence raj who knew how to navigate in the minefield of "contacts". A friend of the Gandhi family, he leveraged his proximity to, first, Sanjay and, later, Rajiv, to move beyond the Subros automotive business into the glamorous world of hotels. His first foray into hospitality was the award of land generously doled out in 1980 to prepare for the great rush of visitors expected in the capital during the 1982 Asian Games. Like several other hotels at the time, his Holiday Inn Crowne Plaza was not ready for Asiad, but it did eventually add 444 more rooms to the city. It also laid the foundation for what is now the eight-hotel Grand chain, with three more expected to come aboard in 2007, and another four in 2008. His initial international management agreements with, first, Holiday Inn, then Hilton, weren't successful, possibly because he wouldn't let go of day-to-day operations. Eventually, when the group began to grow - in Mumbai and Goa - and with acquisitions in Srinagar, ITDC's divested hotels in Bangalore, Udaipur and Khajuraho, and more recently the Great Eastern in Kolkata, a working arrangement with InterContinental Hotels settled into a comfortable working relationship. For a first generation hotelier who honed his management skills on the job, Suri grew faster than his competitors, whether ITC Welcomgroup or the Taj and Oberoi groups. He also established a luxury hotel chain in the face of all odds, driven, says a colleague, "by his passion and his vision". But in the last few years, it had become evident that Suri was simply biding his time for his son Keshav to grow up and train sufficiently with chains overseas and take over the group. Suri, in turn, wanted to convert his flirtation with politics into a full-fledged affair. Nominated a Rajya Sabha member (he had declined the offer earlier in his career on the advice of his wife), his dalliance with the political leadership in the Congress (though he continued to have political friends outside the Congress) charged him much more than checking the daily occupancies and average room rates in his hotels. It was evident that having tested the waters, he was waiting to check-in into a full time political career. Besides his son, Suri has three daughters, all of whom are professionals, though only the youngest, a management expert, is involved with her father's hotels. For now, the group is likely to be spearheaded by Jyotsana Suri who, according to a spokesperson, "is actively involved in the business". Which would make her the third woman head of a hotel company, her predecessors being Mrs Charanjeet Singh of Le Meridien Delhi and Priya Paul of the Park group. RANJINI MANIAN- Global Adjustments

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In March 1995, over lunch, Joanne (Grady Huskey), a diplomat's wife told her Chennaibased friend Ranjini Manian how difficult it was for a foreigner to adjust to the new surroundings, new culture and new food habits that India offered. "Joanne told me that there are relocation services and cross-cultural companies in the West, and India would need such services because the world was coming to India. Then she asked me, why don't you start something like that?" reminisced Ranjini. Ranjini, who has more than a smattering knowledge of French, Japanese and Spanish, considered the idea of starting a relocation service in India a bright one. After all, she had been helping out her non-Indian friends out of personal interest. "Indians as a race are very hospitable and welcoming. And Joanne spoke of the days I helped her out as a friend when she was feeling down in the new surroundings. She said the help I gave her was needed by every westerner who came to India. So my inspiration to do something for the expats is Joanne." That was the beginning and Ranjini soon became an entrepreneur. She is the founder-director of Global Adjustments. Birth of India's first relocation service The first thing the two ladies decided was to give the venture a 'workable' name. So they grabbed a piece of paper (it's still with Ranjini) and jotted down names that they thought would suit a relocation service. Finally they zeroed in on 'Global Adjustments.' The next step was to find a suitable place for their venture. Without a second thought, Ranjini decided to use her vacant flat, in one of the residential localities of Chennai, as the office of Global Adjustments. "At that time, it didn't strike us that it was a great location with the Park Sheraton nearby and above all, this was south Chennai!" Ranjini remembers that they did the "most foolish thing" after that. They went to the most expensive place and bought the stationery for their office. Ranjini had some spare furniture and Joanne had a word processor. And Global Adjustments was born. The most important thing an entrepreneur has to follow is to keep all the windows open, says Ranjini. . . "so that the antenna was always open and I was looking for something new or different to do all the time. Though I loved the idea put forth by Joanne, I knew what I was going to do was a pioneering effort. At that time, there was not a single company in India that offered relocation services." Was it easy for her?

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"No, it was not easy because many people wondered why they should pay for the services that any other Indian would be offering for free. Many Indians also asked me how I would convert this into 'business'?" "Our culture says Atithi Devo Bhava (a guest is like God). Anyway, we do need to look after our guests, they argued. There was a little resistance from the local community as well as the small existing expat community to corporatising hospitality." Ranjini admits that it was the press in Chennai that gave her the much needed publicity free of cost. "Within two weeks of our launch, we were on the front pages of The Hindu. It said culture shocks of expats coming to India would be eased by Global Adjustments. So being in the news was one way the message was spread. We also spoke to various consulates about what we were doing." Then they decided to arrange a seminar called 'The Taste of Madras' for the expatriate community in Chennai. It was free for everyone. Experts from various fields spoke at the function -- S Muthiah talked on history, Anita Ratnam on dance, Nandita Krishna on Hinduism, and Ramesh Krishnan on sports. Yes, Ranjini had the advantage of knowing all these experts personally. "That is why they all came to talk to the expats. That is why we had an easy starting point." First client After the seminar, an American named Barry Brown who was staying in a hotel signed up as the first client of Global Adjustments. In fact, the company he worked for -- Air Touch International -- also signed up. At that time, the company was planning to bring cell phones to India by tying up with the RPG Group. "We welcomed Barry Brown to India, helped him choose a place to live in, schools where to educate his children, to choose a hospital, et cetera, et cetera. However, in the end, Barry Brown didn't come to stay in India. But the American who came after Barry Brown became our real first client." Dealing with the first clients was comparatively easy, said Ranjini. "It was very easy because they came with no expectations. But now it is more difficult because we have been in the business for the last 11 years. Naturally our clients expect very high level of service from us. But in those days, even a little help was appreciated." The first major corporate client of Global Adjustments was Ford. Sixty to eighty families of Ford executives became their clients way back in the 1990s and relocation training modules were designed specifically for them. "An American may be more friendly and open but he has very little knowledge of India. On the other hand, a British will have more knowledge of India, yet they face the same relocation problems," Ranjini remarked. Clients after ten years Today, after ten years, Global Adjustments has more than 1,000 clients from 70 nationalities. The list among others include Alliance Francaise, Alcatel Development Centre, Bank of Tokyo, BMW, British Council, Deutsch Bank, Ernst & Young, Fenner, Ford India Ltd, GEC Alsthom, France, the German Consulate, Hewlett Packard, Lufthansa, Nokia, Panasonic, Sansui, Shell, Singapore Consulate, Toshiba, Japan, US Consulate, Van Melle, Holland, and World Bank. From two employees in 1996, the company has grown to have 35 people. Other than Chennai, they also have branches in Gurgaon and Bangalore. Regional consultants are there in Pune, Trivandrum, Mumbai and Hyderabad. Perception of India in the last ten years 95

India, points out Ranjini, has gained respect in the minds of westerners now. And this is not because of its cultural background and heritage but "because of the advancement in the field of technology. It is visible now. I see people coming here after doing their homework and with a more open mind. They tell us, please teach us what we should and shouldn't do. Earlier it used to be, 'This is how I am used to, and I want it this way.' Now, it is more like, how can I adapt and integrate. How can I manage an Indian team? We teach a programme on how to manage an Indian team and most westerners take that course. They also take time and effort to understand India." Along the way, Global Adjustments started a course for Indians to understand the westerners too. That was when the dot-com boom had started and a lot of Indians were moving to western countries. They also had plenty of doubts in their mind. Global Adjustments trained people to go and live in different locations. There were thousands of Indians who took training from Ranjini's team to learn to live in different parts of the world. After the dot-com bust, it is now the call centres that are asking for training. Turning point The turning point for Global Adjustments was in 2004, according to Ranjini. "We called ourselves a company that offered relocation services. We thought, are we really that? We are actually a cross-cultural company in an integrated way. So, today we call ourselves, India focussed, integrated cross-cultural training and destination services company." Real estate division Other than the relocation services, Global Adjustments also has a real estate division now that advices Indians where to invest if they want to rent out homes to expatriates. "We tell them where to buy, how to build and how to do up the homes, etc to suit the taste of the expatriates. We also train them on how to work with other cultures. We do a lot of communication training. We also offer customer service programmes, office etiquettes and protocol programmes." The company also offers a round- the- clock telephone and e-mail helpline for all their clients throughout their stay in India. The only magazine for expats It was a comment from an expatriate that made Ranjini think of starting a magazine. "She told me, Madras is so boring. So, we started off as a calendar of events in Chennai. I told all the exapts, 'I will keep you occupied all the 30 days. Don't tell me the city is boring.' Then, they asked me, 'There is an exhibition at Poompuhar on Ganesh Chaturthi. What's that?' So, we started publishing articles on what's Ganesh Chathurthi, etc. Slowly, our magazine, At A Glance: Understanding India, became a cultural guide to all the expatriates, and ours is the only cultural magazine for expatriates in India." The proudest moment for Ranjini was receiving a letter from President A P J Abdul Kalam appreciating what she is doing for the nation through the magazine. The most cherished comment was when an expatriate said it was like a lifeline for them. Another person told her while leaving India that she had collected 4 years of the magazine and was taking them back to her country. Ranjini says not a single expatriate leaves India smiling; "They are always sad and crying because they are leaving India. Many tell me it is a 'wrenching moment' for them. It is the warmth of the people that touches them." Learning experience 96

Ranjini says she has understood India better by teaching foreigners about India. "We didn't know the India that we needed to explain. For example, I didn't know how to explain why we had a dot (bindi) on the forehead. Finding answers to such questions have made us more penetrative of our own culture. It made it easier for me to answer many questions because I was brought up in the vedic culture. "This work has made me more sensitive and aware as a person, what I am doing and where I am going. It is like retracing my own origin. It has enriched me as an Indian and certainly as a person." "These last ten years have been a journey of constant learning, relearning and un-learning for me personally and for all of us at Global Adjustments! The journey as an entrepreneur has been exciting as well as challenging." The reason for her success? "I was at the right place at the right time."

Ajay Shriram DCM SHRIRAM Finally, the sage counsel of our resident food expert prevailed. I wanted to take Ajay Shriram, the chairman and senior managing director of DCM Shriram Consolidated Ltd, to some place out of the ordinary, but couldn't think of one in the whole of Delhi. Till the grey-haired one told me of Baci, the new Italian restaurant in Sunder Nagar: "It even has a bar licence now." I booked a table for two before you could say gin and tonic. Neither gin, nor tonic. Shriram poured cold water on my plans when he announced that he doesn't like to drink. "Can't work after a drink; makes me feel very heavy," Shriram said and ordered a Limonta. "Makes me feel light as air," a small voice from within said as I heard myself order a lite cola. But he doesn't let me down on food. The great-grandson of Sir Shri Ram (his father was the kotwal of Delhi; for long, they were called the kotwal family) is a pucca non-vegetarian and loves his beef steak whenever he is abroad. Practical man. We settled for Ceasar's salad and pasta. Baci was stylish but noisy at lunch hour. "I wish, these people had carpets on the floor; it would have absorbed the sound," Shriram said. In the entire Shriram clan, nobody has a bigger and more profitable business today than my guest. Underdog at the time of the 1990 family split, Shriram now leads the pack. While the rest of the family has sold several key jewels like DCM Daewoo, DCM Benetton, Honda Shriram Power and the Rath vanaspati brand, Shriram has spread his wings steadily. "Our turnover has grown 13.8 per cent annually and our profit 22 per cent annually since the family split in 1990," said Shriram with pride. Shriram's Haryali Kisaan Bazaar is the largest rural retail initiative in the country (the Australian Wheat Board wanted to take a stake in it some time back but Shriram declined). He has built a sugar business from scratch in the last few years and now counts himself amongst the top half a dozen sugar producers of India. He has had his share of setbacks too. Not once but twice, Shriram tried to venture into insurance, first with Royal Sun and then with Zurich. On both occasions, the venture had to be aborted before take-off. His shrimp farm project at Pondicherry too, never took off. The 400 acres of land there cannot be developed into a resort as the beach is very steep. Shriram's plans to induct a US partner in his speciality compounds (Shriram Polymers) business earlier in the decade fell through weeks after Business Standard broke the story. "What role did we play in the break up," I 97

asked. "Actually, that company itself got acquired by somebody else. And the new management lost interest," he said. This hasn't kept Shriram's stock from being in demand. As we start picking the salad, Shriram said that some years ago, he was approached by Harshad Mehta who wanted to have a go at the DSCL stock. "We told him we were not in this business and never met him again," he said. But Shriram, along with his brothers Vikram and Ajit, has steadily upped his stake in the company to 55 per cent now from 18 per cent at the time of the 1990 split. While ramping up their stake, the brothers Shriram also bought out stock broker Harish Bhasin who had acquired shares in the undivided DCM on behalf of takeover artist Swraj Paul in the mid-1980s. "How will you ensure," I asked Shriram before starting on my delicious pasta (penne in white sauce), "that there are no fissures between you three brothers once your next generation is ready to join business." Shriram says that there are enough strategic business units within DSCL (fertilisers, cement, chemicals, PVC, retail, real estate, sugar, energy services, building systems and so on) to accommodate the entire next generation. The brothers have also engaged the services of a behavioural scientist, Sushanto Bannerjee, who routinely advises them on the issue. "We have retreats with him on and off. Our last meeting was in Dubai," Shriram says, adding, the brothers have decided that the family will provide each member with a house and will pay for the children's education, whatever it takes. As we move from pasta to cappuccino (regular for him, large for me), Shriram starts unravelling his rural retail initiative. From 35-odd outlets in the north, he is planning a chain of over 700 all over the country in the next few years. Each can take up to a crore-and-a-half rupees to set up, while the annual turnover could range from Rs 3 crore (Rs 30 million) to Rs 8 crore (Rs 80 million). Starting out with farm implements, Shriram has now started stocking FMCG products, fuel as well as apparel. Some of these are now being sourced from China. "From 10,000 SKUs, we want to move to 20,000 SKUs," he says. Obviously, once he upscales his operations, he will be able to drive a hard bargain with his suppliers and bring down the price tags. "What insights have you gained into the rural consumer's mind," I enquire. "If you offer them stuff of good quality, they are prepared to pay you the price," he answers. More was coming. In Punjab, for instance, Shriram found out that large packs of a leading brand of black hair dye was in huge demand. Some enquires revealed that farmers were using it to paint their buffaloes jet black before taking them to the local haat for sale. Towards the end, the pieces of Shriram's gameplan started falling into place. Between his sugar, fertilisers, hybrid seeds and rural retail businesses, he is networked into a large community of agricultural households. He doesn't remember the number but says it could run into millions. And these could be the building blocks for his future business. Fortune, it does seem, lies at the bottom of the pyramid.

Rakhee Nagpal DYNAMIC VERTICAL SOLUTIONS Rakhee Nagpal, a 28-year-old Londoner, gave up living in the United Kingdom to start afresh in India. She's got an undergraduate degree in economics and a master's in marketing from Kingston University, London. She's the managing director of Dynamic Vertical Solutions and plans to be the number 1 provider of retail solutions in India. 98

This is one young lady, who has achieved quite a bit in a short span of time and she had a early start -- she began by helping her father in his business, when she was 16 years old and then went on to do short work stints with Merrill Lynch and Barclays in London. But then 9/11 opened her eyes to a new, rather uncomfortable reality -- that a lot of people were arbitrarily removed from their jobs at Barclays Bank, where she was then working. She told CNBC-TV18, "After 9/11, around 200 people got shoved off from their jobs at Barclays Bank, who had spent a lot of their time, their livelihood and their life at the bank and they had no choice but to leave. I thought I never want to put myself in a situation like that." "It was also about wanting to work for myself because anything I do, I always give it my all. So, I thought if I was going to do that, then I'd rather do it for myself. At the same time, my father who is a huge entrepreneur from the United Kingdom, came into India in 2001 with a company called Navision India. Since he was starting operations in India, he gently persuaded me to go and work for him. Leaving the UK was a big step for me -- I had never moved out of London -- but I took the bull by the horns and said 'I'll do it!'" So here she is: she cut her teeth on her father's business and started her own company -- Dynamic Vertical Solutions -- about five months ago. After having worked as a director at Navision and having taken care of marketing activities there, she saw scope for anyone who was offering integrated business solutions. She says, "Technology is something that is huge in India, but more so in terms of the fact that we want to use that technology for the domestic market, rather than just focus on exporting it." Her company focusses on importing technology and hopes to cash in on India's booming retail and hospitality sectors. She has partnered with Iceland-based Landsteinar Strengur (or LS Retail), which is the world's largest developer of retail solutions based on Microsoft's ERP platform. This strategy has made her India partner LS Retail smile too. LS Retail handles clients such as Adidas, Ikea and Pizza Hut globally, but Rakhi hopes to provide more Indianised solutions for the local market. "We never compete with our partners. In fact, our business is built on partners and I believe that the channel partner network will be able to cater to the unique requirements of the different territories, the different locations within India, which differ so drastically. So, that's what we look for," she explains. She's looking at her integrated solutions being implemented in a 1,000 stores by the end of this year. She's already got 15 stores as clients -- both single format stores and large ones. Her firm has also bagged US Pizza as a client. She's thinking of investing Rs 3 crore (Rs 30 million) and is looking for 150 per cent growth year-on-year. Though, she is not looking for a venture capitalist to fund her expansion dreams, she might consider them, to take her company to the next level. She also sees her company coming out with an IPO in the future. With so much lined up and with so many global chains looking to come into the Indian retail space, she's determined to give them the complete package deal -- hardware, software and solutions -- to her clients. Her company is all set to be the one-stop shop for retail solutions. Almost like finding everything you want -groceries, clothes, cosmetics, etc at one store, isn't it?

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SRINI RAJU- iLABS

Srini Raju came back from the United States to join Satyam Computer Services as a partner and he was the chief operating officer from 1992 to 2000. He was also the first chief executive officer of Cognizant Technology Solutions from 1994 to 1996. In 2000, he left Satyam to become a venture capitalist. He founded iLabs Capital to help start new ventures. iLabs now funds 13 companies, many of them leaders in their respective market segments. He is also a founding member Indian Institute of Information Technology. He recounts the long successful journey he has undertaken so far. From the US to Satyam I was working in the US when I got an opportunity to be associated with Satyam. I never wanted to be a senior employee in a big company; it was not my ambition at all. I wanted to work, make enough money to support my family, that's all. I had always wanted to start something on my own. I wanted the freedom to do what I wanted to do in my company which I didn't have as a junior or middle level employee. I had this urge in me to own a business but didn't have the capital with me. Ramalinga Raju steps in It was (Satyam chairman) Ramalinga Raju who asked me, 'Do you want to come back to India and join our team?' He was also in the US but came back to India to start Satyam. So, I decided to join him. And became a partner in Satyam. Although we were a group of people, each of us used to run a company each. Ramalinga Raju ran Satyam Spinning Mills, Rama Raju ran Satyam Constructions and I had Satyam Computer Services.

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When Satyam Computer Services became a sizeable company, we thought it needed bigger management, and Ramalinga Raju being the leader of all of us came into its operations. He was also the Chairman of the company. Success of Satyam If you want to be big, you have to dream big. You can run a small company and be happy. An entrepreneur doesn't have to always own a big company. In our case, we never benchmarked ourselves with our peers; we benchmarked ourselves with Tata Consultancy Services which was much bigger than us at that time. We started comparing ourselves with Infosys when they became a sizeable operation; they started ten years before us. We have recruited people from TCS but not a single person from Infosys because we look at them as our competitors. All of us were very committed to the company, and we had a very stable senior management, and that was the reason why we grew. First CEO of Cognizant Technology Solutions In 1994 Cognizant Technology Solutions was started as a joint venture of Dun & Bradstreet (76%) with Satyam Software (24%). And I became the CEO of the company taking care of, both, Satyam Computer and Cognizant. Three days a week, I was in Hyderabad with Satyam and three days in Chennai for Cognizant. After three-and-a-half years, Dun & Bradstreet had an option to buy us out and they bought us out. That was how Cognizant became independent. They have done very well, and I am really proud of the company. All the guys who are there right now, the entire team, are the people I brought into the organisation. In Satyam also, we have the same team even today. Only I am missing from the team! New role as a venture capitalist For nearly ten years, I was travelling a lot and doing the same work. In software services, it is a 24-hour job. As I travelled, one day a thought hit me, 'Why don't I help the next generation entrepreneurs, just like Ramalinga Raju helped me start Satyam Computer Services?' He supported me and made somebody out of me. I thought I would do the same thing to the next generation. As I had capital with me, I could start a business. I will not call what I am doing now 'social responsibility;' there's a commercial angle to it too. Of course, we support interesting businesses even if they don't bring in money. But you cannot support interesting ventures alone because I am running a business as a venture capitalist. Combining interests and business as a VC Throughout my career, I have tried to combine my interests and the moneymaking aspect of business. Yes, there will be a little bit of conflict in you when you try to combine both. That is why you have other partners who try to make you look at things in a balanced way. Sometimes, they do ask me, 'Srini, are you making the decision based on your interest or based on the return on investment?' Sometimes, I do tell them, 'this project interests me' 101

If I want to only make money, I would put money only in the ventures that make money, but I like interesting projects too. I do that without letting it affect my business. The way I do is, we put 90% of our money where there are good returns and you can put your money at least in 5 per cent of the areas where you feel can make a difference. It is like picking up something that did not exist before. DQ Entertainment is today one of the largest studios in the world and when Tapaas Chakravarti (chief executive officer, DQ Entertainment) came with the proposal, if I had had my doubts, it would not have happened. Yes, it is not as profitable as IT services. But we thought we should do something beyond IT; we should support people who are not engineers but have artistic skills. One feels satisfied because one created certain things that were not there. I feel good if we can create employment in more sectors in the market. But does that mean I will put all my money into such projects? No. As a VC, we are focusing on the tech sector, media and entertainment, consumer driven products and services. We get into areas which we know well, not into new areas where we don't have the expertise to judge. Role as an entrepreneur and a VC I enjoyed taking risks and I enjoyed my role as an entrepreneur at that stage of my career. But if I were to be there now, I would not enjoy it too much. It has become monotonous for me. My new role as a VC has given me enormous opportunities to do many things. I am not constrained by my customers. Nobody is calling me in the evening to ask why his delivery has been delayed (I was the COO in Satyam)! Today, I get a lot of time to think and act. If you don't care for your returns, this is an easy job! If you invest in good companies, certain returns are assured. I don't have any ambitions of starting a new company. That is over in my life. Will I do something else? Yes, I have involved myself in building an educational institution, a university. I will spend more and more time there. Social responsibility I come from a poor background. I had to struggle to succeed and then I was involved in making my companies succeed and make money. When you reach a certain stage in your life, you start looking back. That is when what is ahead of you is shorter than what is behind you. Then, you think, 'What should I do meaningfully the rest of my life?' Some decide to travel and see the world, some write a book, some continue to make money till they die, but I wanted to give something back to the society that gave me a good education. I studied with the help of scholarships from the government throughout my studies. At REC, Warangal, I might have spent only Rs 10,000 in the entire five years I spent there. Today, that is the amount you spend on your kid's education every month. Then, I went to the US for higher studies, again on a scholarship. I was at IIT-Madras for a year on scholarship. Our education system has been very supportive. That is why I want to start a good university for the benefit of students. 102

Reservation for higher education If the government is running an institution, it belongs to the society and they can have reservation there. But the creamy layer should not have reservation. Reservation should be given only for one generation. Reservation was given for social backwardness and financial backwardness, and, today, financial backwardness exists in all sections of society, irrespective of the caste or religion people belong to. It is not only socially backward people who are poor. And not all socially backward people are financially poor. When you give one family the benefit again and again, you are hurting others and also denying another person a chance to succeed in life. I have seen half a dozen IAS (Indian Administrative Service) officers in a family and every generation makes use of reservation. So, there is a class within a class right now. Job quotas in the private sector I feel we, as an industry, have a responsibility to the society. Initially when we were creating jobs, we were happy doing just that -- creating jobs. You cannot have a society where only a few people in the society are benefiting from it. Then, the others will be very unhappy. So, we have to voluntarily take affirmative action. I would be very happy if all the Indian private companies say they are affirmative companies. An affirmative company will make an active effort to ensure that all sections of society are with them. I believe that there is capability in every individual and we have to harness it. What we need is an inclusive society.

Joseph Sigelman - OfficeTiger

OfficeTiger, one of the first to enter the business process outsourcing space in India, is now the undisputed king especially after R R Donnelley & Sons acquired it for a whopping $250 million in an allcash deal. OfficeTiger, however, will continue its operations as an independent unit and its co-founders, Joseph 'Joe' Sigelman and Randolph 'Randy' Altschuler, will continue as its co-presidents. While Sigelman operates from India, Altschuler sits in New York. The story of the two young men chucking their high-paying jobs (Randy was in private equity at The Blackstone Group and Joe with Goldman Sachs International in London in the Investment Banking Division) to enter the outsourcing arena, from India, has become a legend now. This is the tale of the journey that Joseph Sigelman undertook from New York to Princeton University to Harvard Business School to Chennai. 103

The real life story of Joseph Sigelman is no different from the story of any young man from a south Indian conservative middle class family. But he is not a south Indian, not even an Indian; he hails from the United States of America. But Joe likes to describe his family as "a conservative middle class, south Indian family" where kids are urged to study, work hard and do well in academics. Joe's father is a doctor, mother a pharmacist, and his uncles are police officers. "When lot of kids were playing after school, I sat at home and did my homework. My parents made sure that I went to school regularly and did my homework without fail. As my parents wanted me to study in the best school in the city, I had to commute three hours daily, but I utilised the time in commuting by doing homework on buses and trains!" he says. At the Princeton University When young, Joe had no idea what he wanted to be when he grew up. But he was sure that he would study only in the best university in the United States. So he was off to the prestigious Princeton University for higher studies. "Princeton was a great experience because in American universities, you can pick so many diverse subjects." He opted for courses in English (Shakespeare), in engineering, and in history. And what he enjoyed the most was reading Shakespeare's Hamlet! Despite enjoying history and Shakespeare the most, Joe became a banker. "I went for some interviews when in the university and got excited about what bankers were doing. But I had no idea what banking was." Joe as a banker Joe admits that as a banker, he was terrible. "From day one, I realised I was terrible in banking. They gave me balance sheets and I didn't know what a balance sheet was! But they couldn't fire me because they felt very bad to fire a very hard working guy!" "The only thing I remember from early days of banking was that if you sleep on the floor at 2 or 3 in the morning, you can keep your legs on the desk! The bank felt so bad about having me there that they gave me a great recommendation to study at the Harvard Business School! That was their way of getting rid of me as fast as possible before I did much damage," Joe said with his typical wry humour. Harvard Business School One thing that Joe still cannot forget about his days at Harvard is the classes he had to take. "Every day, the professor would pick one student and ask him to speak, and I was so shy that I dreaded it. We had to speak extempore on case studies." The summer job he got when he was at Harvard was at Goldman Sachs in London in investment banking. "I had decided never to go back to banking, and there I was once again, in banking!" To his surprise, he found that he had a great time doing the summer job at Goldman Sachs. "The atmosphere was great and the work culture amazing, and I enjoyed doing investment banking." Entrepreneur

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However, it was at Princeton that Joe met Randolph Altschuler -- Randy -- and their friendship continued at Harvard too. "Till I went to Harvard, I was not exposed to entrepreneurship. I always wanted to be a bit of an iconoclast. I wanted to do things that are unconventional." Randy then joined The Blackstone Group in New York and Joe was with Goldman Sachs International in London in the Investment Banking Division. So at night, both had long telephonic conversations about starting something of their own. They spoke at length on various ideas. Then, "one dark and stormy night when thunder clouds were clapping, both of us had the same experience and the same idea." What was that experience and the idea? Both of them were working on their presentations for the next morning at the in-house typing pool. At night, the typing pool would be filled with actors and poets who were moonlighting to make ends meet. "It was three in the morning, and there was this guy who had an audition the next day and was tired and ready to go home because he had a play earlier in the morning. He gave me back my work, but he had accidentally put his script inside my presentation. I was banging my head in exasperation. I called my buddy Randy to share my misery with him. And, he also had exactly the same experience in New York! It was a strange coincidence," Joe recounted. That made them think. "There has to be a better way of doing things." As Joe had been to India before as a child, the image of India came to his mind immediately, and he asked Randy, "What if we can do this work in India?" "Why not?" was Randy's reply. Both knew the concept called business process outsourcing (BPO) would work. "We hadn't an iota of doubt about it. Probably, stupid confidence, but we were confident." This was way back in 1999 when nobody was talking about outsourcing. Except GE, nobody was doing any outsourcing work from India; GE also had only just started. Both Joe and Randy resigned from their well paying jobs, packed their suitcases and travelled not to Bangalore but to Chennai in India. The question Joe's shocked mother asked was, "Joe, you went to all these good schools and universities and got good pay. Now, you want to go to India and be unemployed?'

Why India? Joe had been to India (at age 12) and knew India, knew India enough to take risks. "I didn't even think about other countries. It was intuition. It is like falling in love all of a sudden one day. I knew it would work from India. And it worked. That is because the best cross section of talented people is in India." Why Chennai? "We looked at the various cities in India. And what tilted it in favour of Chennai was my love for masala dosa! I remembered the taste of the masala dosa I tasted when I was 12!" Joe chuckled.

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On a serious note, Joe added, coming from the US, he didn't want to be in a bigger city like Mumbai or Delhi. "Bangalore was like the Silicon Valley and we preferred a quieter place. And it has been a great, great experience in Chennai." On reaching Chennai, they checked in at Hotel Connemara. The hotel receptionist asked them, "How long will you stay here?" That was in 1999. By 2006, Joe has not checked out yet. He still lives in the same room at the same hotel. OfficeTiger Both Joe and Randy pooled whatever money they had and started OfficeTiger in Chennai on the September 1, 1999. The name OfficeTiger was a unanimous decision; it was Princeton's symbol and it was at Princeton that both of them met first. The friendship still continues. They took up space at Spencer Plaza in Chennai, and according to Joe, the initial days were very difficult and challenging. "The first ten people I got were very well educated and hard working. But when we appointed people, we didn't ask them whether they could type, and they couldn't. So, the first six months were spent on teaching typing. When we appointed those who could type, they didn't know English! That was the second mistake we made," he recalls. Initial hiccups over, the first job they got was desk top publishing for a global bank, though it was very tough to convince the client in the US that quality work would be done from India. "Now, it is not so," Joe emphasises. In the first three years, the revenue doubled ever year, the number of employees touched a thousand, but Joe and Randy were not satisfied. "We were a small company. We had only 15 clients." Donnelly buys OfficeTiger When R R Donnelly and Sons, a giant US firm which had a turnover of $8 billion in 2005 with branches all over the world, offered to buy OfficeTiger for $250 million, both Joe and Randy couldn't refuse. "We thought about the offer for three months. What tilted it in favour of the deal was the fact that Donnelly has over 600 offices around the world. Now, we are part of a company that has resources of $8 billion with 50,000 employees. It will be helpful to OfficeTiger, we thought. We are now one of the largest BPO firms in the world," Joe says. In April 2006, OfficeTiger decided to become a Donnelly company. "It was a tough decision. On the one hand, it was our baby, and on the other, Donnelly was offering so much more for the employees, which we could not have. Looking back, I feel it was one of the wisest decisions we made." Unlike many other entrepreneurs who sell their companies for big amounts to start another one, both Joe and Randy chose to stay back with OfficeTiger. "In my case, my dream is to make OfficeTiger a huge company. Randy also feels the same. Now we have more opportunities and more clients. How many 34-year-olds have the opportunity to run businesses with 10,000 people?" OfficeTiger with 10,050 employees has 4,000 in India. They primarily focus on law, banking and publishing. With 29 delivery centres and 42 client sites across nine countries, OfficeTiger is the second largest BPO firm in India. 106

In Kerala When others dread going to Kerala, OfficeTiger has started a branch in Trivandrum with 250 people. It may go up to 1,000 soon, says Joe. "Every city has its advantages and disadvantages. I am not worried about labour problems which Kerala suffers from. If you treat people well, then, you have nothing to worry about. In Trivandrum, people are very educated, and they travel a lot. Many come back with the experience of working elsewhere." The future of BPOs The future of BPOs in India depends on imparting better education to the young. According to Joe, other than the best universities, there is a rapid fall in the quality of education. "If we take the IT, the ITES and the BPO industries, you are talking about 100 million people. We have 40 people applying for every position in the company, but 39 of them are not qualitatively good. That's because they are not properly educated. Education has not kept pace with the growth of the economy. So, the government should funnel resources on a massive scale into education." "I don't think education is getting enough attention in India. Unless you get a supply of good resources, it will move to other countries to make sure there is a balance between supply and demand. Already, we have operations in different countries." Joe speaks from his experience. Ambition The $250 million Joe and Randy got from Donnelly was pumped back into OfficeTiger for its expansion because earning money is not the ultimate ambition in their lives. "I come from a very middle class family. I just don't think about money. Money never has driven me to do anything. Money doesn't matter to me at all." "Money matters when parents haven't done their job. My parents have instilled in me the need to be disciplined, hard working and confident. I basically feel that if you keep your head down and work, things will work for you. I care only about the success of OfficeTiger. In life, we should do things that will make us feel happy," says Joe. Joe who sleeps only 4-5 hours a day, works seven days a week and has not taken a vacation in the last six years. He is proud of the fact that he is a workaholic! "I travel a lot all around the world on work. That is vacation for me." Material things don't matter to Joe. He doesn't own a house or a car. He travels by auto rickshaws in Chennai. The only ambition he has is to make OfficeTiger the most professional business service provider in the world. "There is a long, long way to go."

Deepak Puri- Moser Baer

All of us, at some point in our life, have read the story of King Bruce and the spider -- the disappointed king who took heart from the spider, which fell many times to finally complete the Web. Deepak Puri, chairman and managing director of Moser Baer, is one such Bruce of the modern times. He never complained or looked for excuses; he tried to find solutions. If he had problems at the Indian ports, he set up his own supply chain. If he had problems with power shortage, he did not crib. He just went on to set up a captive unit. 107

He faced a series of setbacks in the 40 years of his business life, but he never quit. A masters in mechanical engineering from the Imperial College of Science and Technology, London, UK, Deepak started his business career from Kolkata. His first factory -- Metal Industries Pvt. Ltd -- manufactured aluminum wires and pipes and AC conductors. But, labour militancy -- this was when the trade unions in Bengal ruled the roost -- forced him to shut down his factory. This did not deter him. He started a second business -- this one was about manufacturing time recording devices for the banking industry. But, before Deepak could even settle down, the militant labour union members stormed into his unit and poured acid on some of his machines. Both his attempts to do business had come to a naught. His wife and wholetime director and promoter of Moser Baer, Nita Puri recalls the tough times. She says, "In spite of all this, he fought all the way. He did not buckle. He was gheraoed at his plant but it didn't bother him. Only when they actually gheraoed our home that we decided to move out." Deepak was down but not out and he was ready for the third attempt. "It was pure chance. I knew nothing about floppies, those days" confides the chairman and managing director of Moser Baer, adding, "Actually, I went to Mumbai to a friend's office. Those were the days of power shortage in Mumbai and people used to practice selfregulated power shedding. They switched off their electrical power voluntarily in their offices and houses." "When I entered his office, he was fanning himself with a newspaper. So, I picked up the first object I came across to fan myself with -- an 8-inch square black object. But before I could begin fanning myself with it, my friend grabbed it back! It was a floppy disc. Believe me, I knew nothing about it or its data storage capacity." Deepak had just spotted a business opportunity. Wasting no time, he flew to California to talk to Xidex, then the largest manufacturer of data storage media in the world. India was not a known country at least on the technology front, those days. But the enthusiasm and conviction that Deepak brought to the table impressed Xidex to partner with him. Thus Moser Baer came into being in 1983. The company, which started with 8-inch and 5.5-inch disks today, ranks among the top three optical and magnetic storage (which includes CDs, DVDs, CD-Rs, CD-RWs and Lightscribe CD-Rs in the world.) Moser Baer stands for technology that matches the best in the world. In R&D, it has set many industry benchmarks. It is the lowest cost optical media manufacturer in the world and has a human resource pool that is proud of every disk that leaves its facilities, with the 'Made in India' stamp, flashing proudly on it. What makes him tick? So, what keeps them at the head of the line and prevents them from stagnating? Listen to what Raghavendra Rao, an analyst from Frost & Sullivan, a leading business consulting firm that offers market research and analysis, says: "They keep on attempting to improve themselves. When their products start maturing or declining, they are ready with the next one. When the floppies went out, they moved onto CDs, and when CDs were in the mature phase, they moved onto DVDs, which are now in the growth phase. When the DVDs go into the nest phase of maturity, they will be ready with the next product." And Deepak Puri knows that the fun has only just begun. To this day, Deepak keeps on trying -- this time to make Moser Baer an all-encompassing technology company, which will last 100 years from today. 108

His grit and business sense should make this a easy goal to achieve! Truly, he's King Bruce for the modern age.

Ravan Boddu- iSOFT

It is a typical rags-to-riches story for Ravan Boddu, CEO of iSOFT, a software product development company that has worldwide presence. Boddu's journey to fame had a very modest beginning -- at a primary school in a village in Andhra Pradesh that had no classrooms. "Our classes used to be under the trees," recalls Boddu. Reminiscing about his childhood, Boddu tells you about how he had to walk more than two kilometres everyday to reach his school, as there was no high-school in his village. Although his father was a school teacher, it was his illiterate mother who instilled in him the value of education. "She used to tell me, without education, we will not achieve anything in life. She told me why she could not study even though she had the desire in her. There was no school in her village in those days! She was my inspiration in my early days," says Boddu. By the time he reached the tenth standard, he wanted to become an engineer and do something different. After successfully completing his higher secondary, he enrolled at a regional engineering college. He didn't know at that time that institutions called IITs (Indian Institutes of Technology) existed. "I had heard of only RECs then! It was only after I joined REC that I came to know about the IITs." His father believed that Boddu should go away from Andhra Pradesh and explore other parts of India even as a student. "Given a choice, I would have studied in Andhra Pradesh itself because I knew only Telugu then, but my father pushed me to REC, Allahabad." The initial days at the REC were tough as he had difficulty in conversing in English. "I fled from there and told my father, I would not go back, but he pushed me again. Having grown up in a small village, I had only limited knowledge of the world around me." After REC, it was Masters at the Osmania University in Hyderabad. "Although I did mechanical engineering at REC, I moved to computer science, and this changed my attitude to what I wanted to do in life." Through his campus interview, he got a placement with Usha Computers in Delhi as a software engineer for a 'big' salary of Rs 2,220. After three years in Delhi, in 1989, he got a job with KPMG in the United Kingdom. Three more years in the UK as a consultant, and he was off to Atlanta in the United States to work with Worldcom. From there he moved to Dell Computers. After spending eight years in Atlanta, he started missing India and his parents. Memories of his primary school and the long walks used to haunt him, and he was consumed by the desire to do something for the society, especially in the field of education. He knew he wanted to be back in India. Today, he sponsors the education of many children in his village, and also many others through CRY (Child Relief and You) and World Vision. 109

Although he got the job as the director of e-commerce at Cognizant when he was ready to move back to India, it was a question from his colleagues at KPMG that energised him. "We want to start an R&D centre in India. Will you take care of it?" iSOFT in 2001 That was iSOFT, a small division of KPMG involved in developing healthcare software. Back in Chennai, Ravan Boddu was the only man at iSOFT, entrusted with the task of establishing the R&D facility. "I sat in a Pizza Hut unit to recruit people. The year was 2001, and nobody wanted to join us as nobody had heard of a company called iSOFT!" Yet, he managed to recruit four people. iSOFT in 2006 From just four employees in 2001, iSOFT has grown to 1,600 employees today. From $25 million company, its revenue grew to $460 million last year. From a small house, iSOFT has moved to an office of 125,000 sq ft in the heart of Chennai. iSOFT, which started with the NHS (National Health Service) in the UK, now controls 60 per cent of the UK market. It has 1,800 clients all over the world, in countries like the UK, Australia, Germany, Ireland, Singapore, New Zealand, Spain and the Netherlands. "To make iSOFT what it is today was not difficult but very challenging. It was a new product, new technology. It was hard work with very few weekends at home, and not many holidays in the last five years." What about India as a market for healthcare software? Healthcare in India has to change quite a lot, Boddu says. "Not many hospitals in India maintain the details about their patients." But he thinks it will change in the next five years or so. Since the demand for their product is from outside India, iSOFT prefers to concentrate on the countries they are in right now. iSOFT healthcare product iSOFT develops end-to-end healthcare software; from product innovation to delivery for the healthcare industry, from the labs to pharmacy to the hospitals. The product maintains all the patient information from birth to death with all the major events in his/her life so that they are available to the doctor or the hospital at the tap of a key. Because all the information is available with the hospital and the doctor, efficiency of the system is better. It avoids errors -- like medicine dosage, blood group, etc. For example, if a person is admitted to a hospital under the NHS in the UK after an accident, all information about him will be available on the computer, which are all interconnected so that they can start the treatment quickly, and save life. The information they manage in the UK is available to all the hospitals there. Product development in India According to Ravan Boddu, there are no two questions about Indians not being innovative. "If you look at the Silicon Valley, there are lots of Indians contributing to its growth. In India, it is a question of creating the opportunity and moving a step further into the R&D field. Five years back when we started, it was challenging to even think about product development in India. But today, many companies are starting their R&D facilities in India." 110

Where will India be, in services or product development? "We have already established our presence in services. Now, we have to take the lessons from services and apply them in other areas. It is essential to move up in the value chain to product development. Yes, it is going to be competitive. "People will move out of India as far as services are concerned when they find a less costly market. Service is not permanent because everybody is bothered about the cost. At present, we have the advantage of English and the experience of working with the western countries. So, product development should be our next target" Silicon Valley culture in India Boddu sees India emerging as a major product developer. "I see the culture of Silicon Valley in many places in India, you see a lot of start up companies in India now. i-flex develops products in India and sells all over the world now. Whatever had been going on in the Silicon Valley will be replicated in India. Even now I see venture capitalists scouting for good R&D companies to invest. The flow has already started." Is India ready for R&D? "More than anything else, infrastructure and accessibility in India have to change if we want to be a major player in product development. If you want to innovate, you need all the latest equipments. Access to that is the key in R&D. "Also, it is high time the industry and academia work in collaboration. A number of initiatives have been made in the IITs, IIMs (Indian Institutes of Management) and even Anna University. It is a good step forward. In a few years' time, we will see big changes." China and India There maybe a cost advantage in China but language is a key factor. That is where we have the big advantage. In my opinion, we are ahead of China right now. But I persist that we have to move up in the chain; to product development. Reservation Ravan Boddu is totally against reservation of quotas based on caste. "Not only in the private sector but in public sector also, I am against reservation. What we need to do is impart good education, not only at the primary level but at the higher level too. Education is what we need and not reservation." Future plans for iSOFT "My dream is to make iSOFT the number one company in the world in supplying software to the healthcare industry," says Boddu. Journey so far The journey Ravan Boddu undertook from a small village in Andhra Pradesh to become the CEO of iSOFT is "certainly interesting." "I did not anticipate it to culminate this way but I would say, it was a measured way of doing it. From tenth onwards, I had a clear idea about what I wanted to do. After engineering, I had plans to do something on my own. I also had a dream to be the CEO of a big company, and here I am! "Yes, there were turbulences because some of 111

the jobs I undertook in the US were risky but (I have) no regrets. All the risks I took during the dotcom boom period were learning experiences for me. Those decisions taught me about timing the market. If you don't time the market well, whatever you do won't work even if you try your best. "You have to have a practical approach. Even if you want to start something, you should know that it can go both upward and downward. As long as you know both the tracks, you will have no regrets. "In 2001 when we started our R&D facility in Chennai, we were a bit ahead. That was because we were not bothered about the cost factor. We came here only for the skills and not for cheap labour. And, we did benefit from coming to India. "I am happy that I am back in India. When I was away from India, I used to think about India all the time but I don't even once think about the US or the UK. SATYA RAO AXIOM CONSULTING

Paranoia is one of the 10 axioms that rule this product design company. Encouraging each of his 30-member team to innovate is another principle guiding the four-year old Axiom Consulting. "We are an idea-driven company and need to foster creative thinking," says its 42-year old founder and CEO, Satya Rao. For Rao, a mechanical engineer who began his career in the automobile sector, tooling around was a childhood passion. He took to it after his father, who would invent devices to ease simple household tasks. Plus, there was the "vibrant culture of learning in Kolkata." Setting up a design consultancy seemed natural, after Rao relocated to Bangalore in 1996 following a 10-year stint in the United States. Starting big Start-ups were the flavour of the season and venture capital was in plentiful supply in the late 1990s. After an MBA in the US, Rao had worked as a consultant with Ford Motors. Rao drew upon his US experience to draft a start-up plan focussed on the auto sector. The team kept their fingers crossed, and breathed a sigh of relief on December 31, 2001, when the VC sent them a term sheet for a seed capital funding of $1.8 million. Company Product Founded in year Starting capital Current turnover Profits Axiom Consulting Design and Innvoation firm 2002 Rs 20 lakh (Rs 2 million) Rs 3 crore (Rs 30 million) 20-25% of the topline

But their euphoria did not last even a day. The same evening Rao walked into the VC's office to be told that there had been a re-think. Spooked by the anti-outsourcing wave in the US, the VC had decided that Axiom was an idea doomed to fail. Bad times 112

The year 2002 was not a happy new year for Rao. Pole-axed by the setback, Rao herded his remaining team of four promoters and two employees to a local coffee shop. On the menu, apart from the coffee, were some hard facts: anyone who stayed on at Axiom would do so as an equity holder, which meant that instead of getting salaries, they would scrounge around to raise the starting capital. And, henceforth, the coffee would come from "the neighbourhood Darshinis and not Cafe Coffee Day." The Axiom team stayed together. "It is a test of judgment to be able to choose the right supporter in a time of crisis," Rao says. Within three weeks, Rao with some help from a family friend bagged Axiom's first order -- a brief to design an electric utility vehicle for corporate campuses. Buoyed by the team's enthusiasm, their family and friends pooled in to build a corpus of Rs 20 lakh (Rs 2 million) that saw the team of six rent an office in downtown Bangalore and get to work. For a group that idolised global design hot-shops, the instinct was to target business in US markets. Rao spent three fruitless months seeking business in an anti-outsourcing America. Shouted at by prospective clients for their foolhardiness, the chastened duo returned home and hunkered down to focus on the domestic auto sector. Second coming It was two years before the core team drew even a month's salary. They survived on overdrafts from their bankers. Says Rao: "I could not have pulled this off if my wife did not have a full-time job. The financial and emotional support from our extended family and friends proved invaluable." The tide turned in 2004. First, Axiom was asked to design a three-wheeler for an Indian major for the Auto Expo 2004. And then, halfway through the year, SIDBI Venture picked up an equity stake in the firm. Still it was rough weather for Axiom, financially. Clients would refuse to pay a premium for design and the auto sector was sliding into recession. Going places For Rao and his team -- now 12 member strong -- it was back to the drawing boards. It was clear that they needed a pan-industry focus. Says Rao: "We decided not to restrict our repertoire to auto-design and to again venture abroad where the margins for design are higher." They narrowed down to seeking work at Fortune 100 companies. In January 2005, they made their first serious presentation to a global FMCG major. Their two months of research and minute-by-minute dress rehearsals nearly drowned as a neighbourhood school band began playing just as the clients sat down for an audio-visual presentation. "Fortunately, the client agreed to watch the march past before returning for the presentation. It was a pivotal moment in Axiom's history," recalls Rao. Winning designs Axiom went on to bag that order and started on a journey that has seen the firm grow from 12 to 30 design engineers in less than a year. The team is now churning out project designs, as well as in-house products that range from gaming solutions to personal utility products. On shop shelves soon will be Axiom's first branded product -- Bill Boy, a portable storage system for bills and receipts. 113

With a diverse portfolio that boasts of work in urban transportation, consumer packaging, industrial design such as a low-wattage cooling fan, it's clear that innovation will be the fuel that drives Axiom's aim to emerge as an international design company.

Kalanidhi Maran: SUN NETWORK

An overwhelming share of the Tamil cable TV market, an expanding print media business, and a stock market value of over Rs 9,000 crore (Rs 90 billion) for his holding in his TV company after listing this week - but not quite enough for Kalanithi Maran to earn the respect of his business competitors. The low-profile media baron from Chennai was thrust into the national spotlight this week when Sun TV's shares made a spectacular debut at the stock market, instantly catapulting Maran into the league of billionaires. Any conversation about Maran, however, veers towards his political connections and the "business environment" that was his launching pad. Maran's family has long controlled the Dravida Munnetra Kazhagam (DMK). Sun's corporate office in Chennai has always been located within the DMK's office premises; and brother Dayanidhi Maran is currently the union communications minister too. For a Tamil TV channel, distribution is king, not content, say media industry insiders; Maran has a stranglehold over cable distribution in Tamil Nadu, a factor his competitors claim is the real reason for Sun's dominant market share there. At any given point, 47 per cent of Tamil TV viewers would be watching Sun TV and its sister channels, says Sandeep Nanda, head of research, Sharekhan Retail Broking. An important reason for it, allege Sun's competitors, is Maran's misuse of his distribution clout to stymie rivals. It is a politically sensitive issue. Recently, Tamil Nadu's Chief Minister J Jayalalithaa tried to pass a law that would allow the state to take over Maran's cable distribution. But Sun's business is not limited to Tamil Nadu. It's the second largest TV broadcaster in India, with 14 channels in all southern languages. Also in Maran's possession are FM radio channels, two Tamil newspapers and four magazines. Sun has also received clearance to start direct-to-home (DTH) operations. The IPO - for the business that operates the Tamil and Malayalam channels - raised Rs 602 crore (Rs 6.02 billion) for new TV channels, FM channels and a spanking new corporate office. Regardless of the politics involved, Maran deserves credit for being among the first movers in cable TV. While pursuing an MBA in the US, he recognised cable TV's potential. He got into the business at the age of 27 when satellite broadcasting took off in the early 1990s. In the formative years, he shunned the limelight, keeping his nose to the grindstone along with a select team; Sun grew fast. Yet, competitors feel he hasn't quite proved himself. One points to Sun's failure to buy out RPG's cable distribution in West Bengal, which would have provided a platform for its Bengali channel. Maran's Bengal plans have since been shelved. Others feels that Maran's litmus test will be DTH. Without ground distribution dominance, it will be a competition of content. But in this arena too, the Sun story gets entwined with politics. As Maran had once said, much of his success has been based on doing the obvious. 114

The "obvious" in DTH seems to be political clout; brother Dayanidhi Maran's role as communications minister gets a lot of uncomplimentary hoarse whispers. When Sun's IPO document was filed with the regulator, a BJP MP sent a letter to the Prime Minister's office raising questions about Dayanidhi Maran's conflict of interest. More accusations have followed in the media about Sun's dealings with Star-Tata combine in DTH. Politics could prove decisive in more ways than one for Maran. As Tamil Nadu heads towards a bitterly contested election, assorted post-poll scenarios could emerge. The strong political dimension to Sun's businesses cannot hope to escape the impact. Unpredictability, thus, is wired into Maran's future. Will Sun continue its rise as circumstances change? Back in 1992, so the story goes: Kalanithi Maran sought Zee TV's permission to use its transponder time when the channel was off air. He believed Zee would not object because it would be recovering some of its rentals, but for some reason, Zee did not agree. So, Maran worked out a deal with ATN and went on to launch Sun TV. In these thirteen years, he has built up a business that would be the envy of any broadcaster: Sun's channels command the highest audience shares in all the four southern states and viewership ratings for Sun TV during prime time in Tamil Nadu are way above those for Star Plus or Sony Entertainment (source TAM). "We have a share of 70 per cent in the television market in Tamil Nadu and a 91 per cent listenership share in radio," claims the ebullient 40-year-old chairman. Today, Sun TV is roughly one-fifth of the size of Zee. Its revenues for FY06 should hit Rs 325 crore (Rs 3.25 billion) compared with Zee's Rs 1,505 crore (Rs 15.05 billion). But if its initial public offering goes through, Sun's market capitalisation will be around Rs 5,000-6000 crore (Rs 50-60 billion) or half of Zee's Rs 10,000 crore (Rs 100 billion). Multi-pronged growth strategy The key to Sun's success, say industry watchers, has been the control over the distribution; it would be difficult for rival broadcasters to fight this even with superior content. They also believe Maran's political connections have helped but concede that the model is well thought out. Maran is now planning a foray into DTH through a group company, which would give him even greater control over the distribution. Sun TV's multi-pronged growth strategy is based on:

Cashing in on audience share in a better environment Converting FTA channels into pay channels New niche channels for children and documentaries 41 new FM radio stations Leveraging the group's distribution business Topline should grow faster

Surprisingly enough, the topline growth in FY05 was an unimpressive 7 per cent.

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For a broadcaster, which, through its four Tamil channels, has enjoyed the highest audience share among all networks (including national networks) in Tamil Nadu for the past three years - 59 per cent - and the highest audience in Kerala too, sales at Rs 290.3 crore (Rs 2.9 billion) did not reflect much pricing power. For FY06, Sun should see a smarter increase of 12 per cent to around Rs 325 crore (Rs 3.25 billion), though that too is disappointing. Analysts, however, are betting big on the future in anticipation of larger revenues from advertising in a strong environment. Besides, with subscription revenues kicking in, sales, they believe, should grow 75 per cent in FY07 and 45 per cent in FY08. Sure enough, the environment, today, is far better. Rajesh Jain, director, KPMG, says, "The advertising pie for television is growing faster than before and consumers can afford to spend more on entertainment and are willing to do so." So, Sun should command better pricing power, given its already high market share and the fact that it operates in the fairly affluent states of Tamil Nadu and Kerala. Analysts estimate the ad spend for the Tamil and Malayalam C&S TV markets at Rs 350 crore (Rs 3.5 billion) and Rs 100 crore (Rs 1 billion) in FY05 respectively. Despite this, it is hard to see the topline touching Rs 835 crore (Rs 8.35 billion) in the next couple of years, analysts predict. Going pay should pay off What will drive revenues is Sun's plan to make its remaining free-to-air channels, including its flagship channel Sun TV, pay channels. Maran says Sun TV will be priced between Rs 15 and Rs 20, and believes reporting by cable operators will rise from the current 20 per cent to at least 35-40 per cent. Industry watchers believe that the pay TV opportunity in Tamil Nadu and Kerala is large and will increase with the arrival of new platforms like DTH. The number of cable TV households is around 12 million and the estimated size of the cable subscription revenue market is around Rs 2,500 crore (Rs 25 billion). Besides, the average cable monthly subscriptions are in line with the national average of Rs 175-200 and the possible size of the pay TV market assuming a 15 per cent share for broadcasters is around Rs 380 crore (Rs 3.8 billion). Sun's pay TV revenues in FY05 were Rs 40 crore (Rs 400 million) and since its programmes command a high viewership, cable operators would be willing to carry the channels. Analysts expect its pay TV revenues to touch Rs 220 crore (Rs 2.2 billion) by FY08. The other opportunity lies in the overseas markets, where there is a large affluent Indian population. Sun does not earn cable revenues since the business is housed in a group company. The DTH venture, too, will be set up in a group entity since regulations do not allow DTH in a broadcasting company. However, there will be indirect benefits since the same promoter controls all the businesses.

Content - a big strength Sun has built up a large library of around 2,600 films, in Tamil and Malayalam, which has helped it retain its prime position. Besides, it continues to buy rights for films. 116

"We have the first right of refusal with most film producers," claims Maran. The company believes in both outsourcing content and producing content in-house, for which it has built studio facilities. Producers making content for Sun have to enter into an exclusive arrangement with the company and cannot produce serials or programmes for any other channels. They typically purchase a time slot (say half an hour) on the channel and sell a portion of the airtime -- usually four minutes, the remaining airtime of three minutes being marketed by Sun. Given that producers also need to sell airtime, they would look for channels with high viewership, which Sun offers. Tuning in to the radio Advertising revenues from FM radio are tipped to grow multifold from Rs 300 crore (Rs 3 billion) at present to at least Rs 1,000 crore (Rs 10 billion) by 2010, according to KPMG's Jain. Industry experts say the share of radio in total advertisement revenues should grow to at least 5.5 per cent from the current 2.3 per cent. At present, Sun TV runs three radio stations ?in Chennai, Coimbatore and Tirunelveli. Maran says the company will retain 45 licences in all - in Phase II; Sun TV won licences for all nine A-category cities and for 21 out of 22 south Indian cities. The gameplan is to run 22 stations in the south and 23 stations in the north. They would be up and running by the year-end. Sun's strength lies in its ownership of film music rights for a large number of films. The management is hoping to garner advertisements from local retailers and restaurants, which would typically not use television or print - 85 per cent of radio revenues are from local advertisements. Revenues from Tirunelveli - a small, C-category town with a population of 0.41 million - amounted to Rs 2.8 crore (RS 28 million) in FY05 and Rs 1.3 crore (Rs 13 million) in H1FY06. From Coimbatore, Sun is estimated to have earned Rs 5.6 crore (Rs 56 million) in FY05 and Rs 3.2 crore (Rs 32 million) in H1FY06. Valuations are a big bet on the future The price band of Rs 730-875 implies a market capitalisation of Rs 5,037-6,037 crore (Rs 50.37-60.37 billion) for Sun. Compare this with Rs 10,000 crore (Rs 100 billion) for Zee, which has a similar business model except that it has distribution but no radio business. Revenues for Zee were Rs 584 crore (Rs 5.84 billion) versus Rs 218 crore (Rs 2.18 billion) for Sun in the nine months to December 2005. Its market cap to sales (FY06), at the higher end of the price band, is around 18.5, while for Zee it is 6.5. Sun's EV/EBITDA multiple for FY06 is 28 times compared with Zee's 40 times. Sun's programmes are popular. Going ahead it should gain from higher advertisement revenues. Zee, on the other hand, while seeing better viewership ratings, is unlikely to see increased pricing power. Analysts believe Sun's earnings will grow at 48 per cent compared with 6-10 per cent for Zee between FY05 and FY08, given that its pay TV revenues will grow faster. While the numbers are not impossible to achieve, given the potential for growth, Sun may take longer than time estimated to get there.

Naresh Goyal's -JET AIRWAYS

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Naresh Goyal had to walk for a few miles everyday to school as his parents could not afford a bicycle for him, and started his career as a cashier at his maternal uncle's company at a starting salary of Rs 300 a month. Today, the net worth of the Jet Airways promoter is over Rs 81 billion (Rs 8100 crore), which makes him the sixth richest Indian as per the Business Standard Billionaire Club. Goyal, however, hasn't forgotten his humble past. A reason why he remains modest and avoids the limelight. For e.g. minutes after announcing his decision to buy Air Sahara for Rs 2,225 crore (Rs 22.25 billion) - a deal, which gives him control over almost half of India's domestic aviation airspace - Goel refuses to give it much importance and said, "It's no big deal. I am neither happy nor excited. Such acquisitions have been the way of life in the west." The modesty has been interpreted in many ways. While his associates say it shows that the man has his feet firmly on the ground, others say it's his way of avoiding controversies. Which is understandable, as Goyal has had his share of questions raised about the origin of funds. More recently, the US government has been dragging its feet on giving Jet permission to fly to that country because of what it called the airline owner's questionable links. For the moment, however, the 56-year-old Goyal is on Cloud 9, and says he is "open to all new trends and will grab the opportunities coming his way." He has been doing precisely that ever since he got into the civil aviation industry 36 years back. He also has clear ideas about which way to go. For example, he thinks low cost airlines are just a myth in India. There is nothing to call low cost carriers in India because there is no alternate second airport such as in Europe or the US. All airlines are paying for the same fuel, navigation, landing charges, which add up to 80 per cent of the total cost. There is hardly anything you can do with the balance 20 per cent. Goyal holds a Bachelors of Commerce degree and after completing his education in 1967, joined the travel business as a general sales agent for Lebanese International Airlines. Subsequently, he was appointed the public relation manager of Iraqi Airways in 1969 and from 1971 to 1974 was the regional manager for ALIA, Royal Jordanian Airlines. During this period, he also worked with the Indian offices of Middle Eastern Airline, where he gained experience in various areas including ticketing, reservations and sales. He was, thereafter, appointed regional manager of Phillipine Airlines where he handled the commercial operations of the airline in India. He started on his own in 1974 by floating Jetair Private Ltd (then known as Jetair Transportation Private Ltd) to provide sales and marketing representation to foreign airlines in India. Shortly thereafter in 1975, he was appointed regional manager of Phillipine Airline in India. Finally, in 1992, he took the big step of setting up his airline - Jet Airways. A firm believer in numerology, Goyal is fond of number "5". People close to him say his decision to acquire Air Sahara was also taken on the 5th many months ago. In his free time, he loves watching Bollywood movies for their emotional and entertainment value. But the bigger reason, as he once said, is, you don't have to remember what you saw last time. 118

CHANDERI SAREES They had never stepped outside their homes, let alone towns until a couple of years back. Today they travel to cities like Mumbai, Ahmedabad, Lahore and Kathmandu on 'business trips'. All these years they banked upon their fathers and later husbands for every single penny. Today they not are just earning on their own, but making profits, managing the production and marketing unit of their self-help group. It is one of the rare success stories of "empowerment" of women. Armed with their expertise - weaving - these women from a town called Chanderi in Madhya Pradesh are all determined to carve their own space in today's increasingly expansive global market through their handlooms. "We know our products are good. Now we want to make them the best in the world, so that we can stand against the western competition. Our products have to be of the best quality. Earlier, it was just a question of survival, but today we not just want to survive but prosper and progress too," says Afroze Jahan, one of the weavers. For centuries Chanderi, situated in the Ashok Nagar district of India's largest state has been the hotbed for weaving. Chanderi textiles were patronised initially by the Mughals and later by the Scindias. In this town of 30,000 people, about one third of the population is from the weaving community, which includes both Hindus and Muslims. But the weaving community began facing trouble when the market for their traditional product -- Chanderi sarees -- started declining. Also as most of the weavers were contractual workers, they had no control over the production process and falling capacity utilisation. Resultantly, their earning capacity began to suffer as the master weavers and traders cornered all the benefits and gave them nominal incomes. This is when the 30 odd women weavers got together to form 'Bunkar Vikas Sanstha' under the aegis of United Nations Industrial Development Programme. UNIDO's Cluster Development Programme along with the Department of Rural Industries, government of Madhya Pradesh supported this programme that was launched about two years ago. Since the time of its inception this Sanstha has already sold goods worth Rs 8.3 million even as they continue to get more orders. Owing to this business, BVS was able to give 10 to 15 per cent extra wages to their weavers and even the profits were distributed amongst them. "The programme was started as an experiment if the development of this artisan cluster could alleviate poverty and empower the weavers not only through income generation but also empower them to take their own decision," says Mahesh Gulati, National Expert of the project. Under BVS, the women shelved the existing weaver-master weaver, weaver-trader and weaver-retailer relationship and created new production relationships where they themselves became entrepreneurs and managed everything. "After the formation of our Sanstha, we source our own raw material and even market it and take all decisions on our own," says Muzaffar Jahan, another member of BVS Before the formation of BVS , the UNIDO project organised women in Chanderi as a self-help group where they started savings and interloaning. The weavers were exposed to different traditional fairs and other weavers' organisations. The women understood that working together would be more beneficial than individual work. They also realised that there was a need to diversify as sarees had a limited market. That's when they diversified to Chanderi salwar kameez, shawls, stoles, yardage, table cloth, cushion covers and curtains amongst others. 119

"The workshops were eye-openers. We got to know that it was not just important to make a good product but even market it well. We understood the dynamics of product marketing. We also realised that if we wanted to cater to a bigger market, then we should not confine ourselves to just sarees but weave other stuff," says Afroze. The project also facilitated an interaction between these women weavers and some designers from National Institute of Technology and National Institute of Design who shared their experiences with the rural women and "helped" them to improvise their designs. Later all these self-help groups participated in a joint marketing event with a Mumbai-based outfit that organised some "high-profile" buyers for them. "This was our first big exhibition and we learnt our lesson that in order to succeed we have to get attached to high value chains and have professional design inputs," continues Afroze. It was at this stage that the women from different self-help groups pooled their resources and federated into Bunkar Vikas Sanstha. They began reaping their contacts made during the exhibition. Some Mumbai-based designers also evinced interest in the Chanderi products and the Sanstha received "big orders" from them. In addition to this, they also struck business deals with Fab India, known as one of the biggest handloom and handicraft-marketing organisation in urban India. "Fab India gave us tips on how to modify our products so that they suit the interests of Europe and other Western countries. They have given a new range to our designs. They give us bulk orders for various products, right from dressing material to cushion covers. They are our biggest market. Fab India's subsidiary company has an office in Chanderi that procures materials from us," says Batti Bai, another weaver. Today BVS, comprising 30 women has an executive committee of 19 members, that take all major decisions regarding business. There are two sub-committees for marketing and production related tasks. The dyeing house and yarn bank are also under their control. "We are glad that we have rid ourselves of the traders and retailers now. We share the profits that the Sanstha earns. Earlier our skills were almost wasted as these middle-men would mint all the money. Also, we were short of work and we had a low income. We couldn't save any money. But now we have expanded our markets, our getting regular work and have a better income. Things have changed," says Muzaffar. Agrees Afroze for whom it's more about "self-sufficiency" than a better income. "More than a few extra bucks, it's our independence that we cherish. The fact that we are doing our own thing has boosted our morale. I was hesitant to even talk to outsiders, be it women or men. While today I have become far more confident and can carry out transactions for BVS anywhere in the world," she says. Afroze who is the production in-charge of the Sanstha is also the vice-chairperson of the national body of Homenet South Asia that sponsored her to participate in exhibitions in Pakistan and Nepal. Afroze's dream is to visit Paris -- the fashion capital of the world -- and sell her products there. The women of Chanderi have begun to dream big.

Ajay Piramal- NICHOLAS PIRAMAL PHARMA

Ajay Piramal's favourite story is "Foootprints on the sands of time". The story goes like this: One night the author dreamt that he was walking along the beach with the Lord. Across the dark sky flashed the scenes from his life. For each scene, he noticed two sets of footprints in the sand, one belonging to him and the other to the Lord. But when he looked back at the footprints, he noticed only one set of 120

footprints at the lowest and saddest times of his life. Disappointed, he asked the Lord as to why He left him when he needed Him the most. He whispered: "My child, when you saw only one set of footprints, it was then that I carried you". The story, Piramal says, has acted as a guiding spirit for him. He was 29 when his father died suddenly in New York. His brother Ashok took over, but five years later, he too died of cancer, leaving behind his young widow, Urvi, with three children aged less than 10 years. Just before that, his other brother Dilip had decided to separate his business. Meanwhile, a year-long textile strike led by Datta Samant dealt a crippling blow to the textile industry and Morarjee Mills, the group's main business venture then, was deep in the red. "Life looked bleak when I became chairman of the group at the age of 29. But I survived as the Lord must have carried me when I needed Him the most," Piramal says. Going by his track record, there is hardly any doubt about that. From owning what was then an almost defunct textile company, Piramal today is the chairman of a Rs 4,000-crore (Rs 40 billion) group, comprising Nicholas Piramal, the fourth-largest pharmaceutical company in India, Morarajee Weaving and Spinning and Gujarat Glass. Piramal is also the chairman of the group's retail operations, which are now looked after by his nephew. Each of his three nephews (Urvi Piramal's sons) is now in independent charge of separate businesses. He felt deeply hurt by what he calls sensational reports in sections of the media about differences between him and his sister-in-law Urvi and his nephews over control of businesses. "As their uncle, I did my duty by holding their hands in the formative stages of their life. Now they are independent. But we are all part a big family. The story 'Footprints' applies to me as much as it does to my nephews and my own children -- Nandini and Anand," Piramal says. I am at his 10th floor office at Nicholas Piramal Towers in Mumbai's Peninsula Corporate Park. The influence of the Lord is omnipresent: the walls have inscriptions from the Bhagavad Gita. Pride of place has also been given to Zen-style sculptures of the 18 verses in pure black granite rock -- billions of years old -- from near the ancient city of Hampi. Bhagavad Gita is one of the greatest management books as it prescribes optimism and freedom from stress, he says, while ushering me to the lunchroom, which would easily give any five-star hotel in the country a run for its money. The food is strictly vegetarian, Piramal informs me in a slightly apologetic tone. He needn't have as Piramal plays the role of a host almost to perfection. He is in a nostalgic mood and talks passionately about how he diversified from textiles to a totally unrelated area like pharmaceuticals. "Manufacturing is finite but human intellect is infinite. Textile is all about manufacturing and industries like pharmaceuticals are all about human intellect," Piramal says. In 1988, he heard from a friend that Nicholas Laboratories, an Australian MNC that was exiting India, is up for sale. There were many large suitors but Piramal decided to meet Mike Barker, the man in charge of selling the company, and told him that he had no track record, was only 33 but was confident of achieving his dream of putting Nicholas among the top five pharma companies in India (from 48th at that time). Barker laughed with disbelief but decided to sell the company to him after hearing out the "young and untried entrepreneur's" turnaround plan. Piramal says proudly that a decade later he went to see Barker in retirement in Kenya armed with Nicholas' annual report which showed that the company was among the top five pharma companies in India through a string of overseas acquisitions like the Indian subsidiaries of Roche, Boehringer Mannheim, Rhone Poulenc, ICI and 121

Hoechst Research Centre. The tradition continues till date as Nicholas sealed two acquisitions over the last two months and is looking out for more. He is also immensely proud of Crossroads, India's first shopping mall. The company had a large factory in the centre of Mumbai and if he wanted to expand, civic permission was impossible to get. Moreover, the cost of manufacturing was one of the highest in India. The three factory buildings of the pharmaceutical company were converted into retail space with the help of architects from Singapore. On the opening day, cars lined up for miles and the McDonald's ice-cream shop in the mall sold more cones in a day at the Crossroads than in any other store in Asia. We are through with the rather sumptuous lunch, and Piramal says his father had taught him an important lesson -- being with animals teaches you to have respect for all living things. His love for horses (Daffodil, a pure white filly, is his favourite) is hereditary and Piramal remembers his father's haveli in Bager, Rajasthan. There were two ways to enter the house, one a staircase and the other a ramp, which was made so that a horse could go with its master to his bedroom. As we walk down the corridor to the lift, he also remembers a blind cheetah on the South African savannah. She was blinded in one eye by a snake but could still hunt and protect her cubs and didn't let her disability turn her into a useless creature. "Disabilities and misfortune can make you stronger," Piramal says. The Lord must be pleased, indeed.

Vikaas Gutgutia FERNS & PETALS

He is a florist whose company prettily wraps 100,000 stems every day. A wedding planner who is all set to take charge of nearly 500 premium weddings this season, Vikaas Gutgutia, the brain behind Ferns 'n' Petals, is putting together important business expansion plans for early next year. For starters, he's giving final touches to an academy for flower management, and setting up a chain of home accessory stores. This is besides the recent luxury flower venture he's launched with fashion designer J J Valaya. He's also in the process of starting a fast-food chain that'll promote India's favourite street food -- chaat. Having grown the FNP group from a single shop in Delhi in 1994 (he has 50 flower stores all over India now) to a Rs 40 crore (Rs 400 million) business, Gutgutia claims his company will post a turnover of Rs 70 crore (Rs 700 million) within the next three years. While the flower business contributes half of FNP's revenues, Lamour, its wedding management division, posts a contribution of Rs 6 crore (Rs 60 million) annually. This season, with marriages worth Rs 20 lakh (Rs 2 million) already in his kitty, "Lamour," he says confidently, "will touch a double digit revenue figure by next year". Gutgutia's plans for the future are clear. The Valaya.FNP partnership will focus on lifestyle flowers like salix willow, protea, pink helegoina and oriental lilliums arranged by a trained designer. 122

The florist-turned-wedding planner says, "Our target will be the premium customers who don't mind spending Rs 20,000 on flowers per month." Gutgutia adds, "I'm looking at 1,000 such high-end customers by next year." Inspired by Giorgio Armani's initiative in floral arrangements -- Fiori -- Valaya.FNP has already clocked close to Rs 1 crore (Rs 10 million) since its launch last month. Spurred by the success, the group is now planning to franchise its business to Dubai by next year, and also open shops in Mumbai, Bangalore and other metros. The buck doesn't stop here for FNP that is also planning to launch an academy where trained faculty from around the world will provide professional guidance on flower management to keen aspirants. Having invested Rs 50 lakh (Rs 5 million) in the venture that kicks off early next year, "the academy," Gutgutia says, "will cater to those who are passionate about flowers and aspire to follow it up as a profession". Is Gutgutia spreading himself too thin with too many business ventures too soon? "We have covered all costs through our business activities," he says confidently of his investments in the new ventures. "I don't believe in borrowing money for business as the interest kills you; neither do I believe in partnerships, they never work out." But aren't his new ventures in partnerships with other people? "These individuals are only lending their names to the brand," he says. "Valaya, for instance, will get five per cent of the total sales that we clock with the Valaya.FNP venture." Last month, the group invested Rs 30 lakh (Rs 3 million) and launched its new home accessories store, Desir.FNP, at 10 M G Road in New Delhi. "The store," Gutgutia says, "will be pitched against stand-alone home stores like Coverline and Good Things." The 3,000 sq ft store houses international products, nearly 80 per cent of which is from Europe, Indonesia, China, Malaysia, and Thailand. "The store is aimed at the upper-middle class," says Gutgutia; "we have consciously tried to keep the prices affordable." With so much on the anvil already, the group seems hungry for more. By December 2005, the company will get into the business of fast-food retailing with its Chatak Chaat outlets. With an investment of Rs 50 lakh (Rs 5 million) to begin operations at its three outlets in New Delhi, the company hopes to increase the number to 100 outlets of Chatak Chaat in different metros. "Chaat is the most happening thing in the food business. It's lucrative," he insists. With the company in rapid expansion mode, FNP is raring to go ahead with its plans at breakneck speed. Only time will tell whether FNP's bouquet remains fresh in all its expansion plans or begins to wilt under pressure.

AMUL

Every day Amul collects 447,000 litres of milk from 2.12 million farmers (many illiterate), converts the milk into branded, packaged products, and delivers goods worth Rs 6 crore (Rs 60 million) to over 500,000 retail outlets across the country. Its supply chain is easily one of the most complicated in the world. How do managers at Amul prevent the milk from souring? 123

Walk in to any Amul or Gujarat Cooperative Milk Marketing Federation (GCMMF) office, and you may or may not see a photograph of Mahatma Gandhi, but you will certainly see one particular photograph. It shows a long line of Gujarati women waiting patiently for a union truck to come and collect the milk they have brought in shining brass matkas. The picture is always prominently displayed. The message is clear: never forget your primary customer. If you don't, success is certain. The proof? A unique, Rs 2,200 crore (Rs 22 billion) enterprise. Organisation structure It all started in December 1946 with a group of farmers keen to free themselves from intermediaries, gain access to markets and thereby ensure maximum returns for their efforts. Based in the village of Anand, the Kaira District Milk Cooperative Union (better known as Amul) expanded exponentially. It joined hands with other milk cooperatives, and the Gujarat network now covers 2.12 million farmers, 10,411 village level milk collection centers and fourteen district level plants (unions) under the overall supervision of GCMMF. There are similar federations in other states. Right from the beginning, there was recognition that this initiative would directly benefit and transform small farmers and contribute to the development of society. Markets, then and even today, are primitive and poor in infrastructure. Amul and GCMMF acknowledged that development and growth could not be left to market forces and that proactive intervention was required. Two key requirements were identified. The first, that sustained growth for the long term would depend on matching supply and demand. It would need heavy investment in the simultaneous development of suppliers and consumers. Second, that effective management of the network and commercial viability would require professional managers and technocrats. To implement their vision while retaining their focus on farmers, a hierarchical network of cooperatives was developed, which today forms the robust supply chain behind GCMMF's endeavors. The vast and complex supply chain stretches from small suppliers to large fragmented markets. Management of this network is made more complex by the fact that GCMMF is directly responsible only for a small part of the chain, with a number of third party players (distributors, retailers and logistics support providers) playing large roles. Managing this supply chain efficiently is critical as GCMMF's competitive position is driven by low consumer prices supported by a low cost system. Developing demand At the time Amul was formed, consumers had limited purchasing power, and modest consumption levels of milk and other dairy products. Thus Amul adopted a low-cost price strategy to make its products affordable and attractive to consumers by guaranteeing them value for money. Introducing higher value products Beginning with liquid milk, GCMMF enhanced the product mix through the progressive addition of higher value products while maintaining the desired growth in existing products. 124

Despite competition in the high value dairy product segments from firms such as Hindustan Lever, Nestle and Britannia, GCMMF ensures that the product mix and the sequence in which Amul introduces its products is consistent with the core philosophy of providing milk at a basic, affordable price. The distribution network Amul products are available in over 500,000 retail outlets across India through its network of over 3,500 distributors. There are 47 depots with dry and cold warehouses to buffer inventory of the entire range of products. GCMMF transacts on an advance demand draft basis from its wholesale dealers instead of the cheque system adopted by other major FMCG companies. This practice is consistent with GCMMF's philosophy of maintaining cash transactions throughout the supply chain and it also minimizes dumping. Wholesale dealers carry inventory that is just adequate to take care of the transit time from the branch warehouse to their premises. This just-in-time inventory strategy improves dealers' return on investment (ROI). All GCMMF branches engage in route scheduling and have dedicated vehicle operations. Umbrella brand The network follows an umbrella branding strategy. Amul is the common brand for most product categories produced by various unions: liquid milk, milk powders, butter, ghee, cheese, cocoa products, sweets, ice-cream and condensed milk. Amul's sub-brands include variants such as Amulspray, Amulspree, Amulya and Nutramul. The edible oil products are grouped around Dhara and Lokdhara, mineral water is sold under the Jal Dhara brand while fruit drinks bear the Safal name. By insisting on an umbrella brand, GCMMF not only skillfully avoided inter-union conflicts but also created an opportunity for the union members to cooperate in developing products. Managing the supply chain Even though the cooperative was formed to bring together farmers, it was recognised that professional managers and technocrats would be required to manage the network effectively and make it commercially viable. Coordination Given the large number of organisations and entities in the supply chain and decentralised responsibility for various activities, effective coordination is critical for efficiency and cost control. GCMMF and the unions play a major role in this process and jointly achieve the desired degree of control. Buy-in from the unions is assured as the plans are approved by GCMMF's board. The board is drawn from the heads of all the unions, and the boards of the unions comprise of farmers elected through village societies, thereby creating a situation of interlocking control. The federation handles the distribution of end products and coordination with retailers and the dealers. The unions coordinate the supply side activities. These include monitoring milk collection contractors, the supply of animal feed and other supplies, provision of veterinary services, and educational activities. Managing third party service providers 125

From the beginning, it was recognised that the unions' core activity lay in milk processing and the production of dairy products. Accordingly, marketing efforts (including brand development) were assumed by GCMMF. All other activities were entrusted to third parties. These include logistics of milk collection, distribution of dairy products, sale of products through dealers and retail stores, provision of animal feed, and veterinary services. It is worth noting that a number of these third parties are not in the organized sector, and many are not professionally managed with little regard for quality and service. This is a particularly critical issue in the logistics and transport of a perishable commodity where there are already weaknesses in the basic infrastructure.

Establishing best practices A key source of competitive advantage has been the enterprise's ability to continuously implement best practices across all elements of the network: the federation, the unions, the village societies and the distribution channel. In developing these practices, the federation and the unions have adapted successful models from around the world. It could be the implementation of small group activities or quality circles at the federation. Or a TQM program at the unions. Or housekeeping and good accounting practices at the village society level. More important, the network has been able to regularly roll out improvement programs across to a large number of members and the implementation rate is consistently high. For example, every Friday, without fail, between 10.00 a.m. and 11.00 a.m., all employees of GCMMF meet at the closest office, be it a department or a branch or a depot to discuss their various quality concerns. Each meeting has its pre-set format in terms of Purpose, Agenda and Limit (PAL) with a process check at the end to record how the meeting was conducted. Similar processes are in place at the village societies, the unions and even at the wholesaler and C&F agent levels as well. Examples of benefits from recent initiatives include reduction in transportation time from the depots to the wholesale dealers, improvement in ROI of wholesale dealers, implementation of Zero Stock Out through improved availability of products at depots and also the implementation of Just-in-Time in finance to reduce the float. Kaizens at the unions have helped improve the quality of milk in terms of acidity and sour milk. (Undertaken by multi-disciplined teams, Kaizens are highly focussed projects, reliant on a structured approach based on data gathering and analysis.) For example, Sabar Union's records show a reduction from 2.0% to 0.5% in the amount of sour milk/curd received at the union. The most impressive aspect of this large-scale roll out is that improvement processes are turning the village societies into individual improvement centers. Technology and e-initiatives GCMMF's technology strategy is characterized by four distinct components: new products, process technology, and complementary assets to enhance milk production and e-commerce. Few dairies of the world have the wide variety of products produced by the GCMMF network. Village societies are encouraged through subsidies to install chilling units. Automation in processing and packaging areas is 126

common, as is HACCP certification. Amul actively pursues developments in embryo transfer and cattle breeding in order to improve cattle quality and increases in milk yields. GCMMF was one of the first FMCG (fast-moving consumer goods) firms in India to employ Internet technologies to implement B2C commerce. Today customers can order a variety of products through the Internet and be assured of timely delivery with cash payment upon receipt. Another e-initiative underway is to provide farmers access to information relating to markets, technology and best practices in the dairy industry through net enabled kiosks in the villages. GCMMF has also implemented a Geographical Information System (GIS) at both ends of the supply chain, i.e. milk collection as well as the marketing process. Farmers now have better access to information on the output as well as support services while providing a better planning tool to marketing personnel.

Priya Paul- Park Hotels

At Park Hotels, it is a time for new beginnings, and with the industry on a roll, if Priya Paul, president, cannot stop smiling, it's because the new phase of expansion is occurring at a time when to stay still would be to stagnate. Not that she's one to let grass grow beneath her size five feet. Fresh off the maternity bed, Paul is bringing a new spell of enthusiasm to the group's hospitality business with a series of announcements that could announce the arrival of a significant chain on the domestic (chiefly business) circuit. Therefore, when she inked a deal for a 250-room Park hotel in downtown Hyderabad recently, Paul was only reaffirming the group's commitment to push for rapid expansion in key locations. "I'm not one to say I'll add six hotels by next year," says Paul, but the intention to become a serious player was never more evident. With two hotels added to the kitty (Bangalore in 2000, Rs 42 crore; Chennai in 2002, Rs 110 crore), and Hyderabad soon to come online, the group is consolidating its position in the south. Clearly, it works with the profile that Paul has pushed for, ever since she took over the running of the then new hotel in Delhi (commissioned in 1987) as downtown properties intended to appeal to the young, with a strong sense of design, and elements of fun in the F&B outlets (restaurants contribute 35-40 per cent of the group's turnover). The parent hotels (Kolkata and Visakhapatnam) had dated back to 1967 and 1968 respectively.

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"We have a lot of experience in handlings bars and nightclubs," she says, having learned from those that worked as well as those that didn't. Those experiments will now provide a leg-up to another business the group wants to enter -- of stand-alone and chain restaurants outside the hotels. "We have the expertise on a variety of cuisines," Paul confirms. A foodie and a wannabe chef who loves interacting with the Antonio Carluccios of the world (he's currently touring India with the group, training chefs in the Park restaurants across the country), she says, "Restaurant eating is booming, so there's a lot of opportunity for the group to get into the business." Both formal restaurants as well as chains in mall outlets are under consideration, but for now Paul will only confirm that they'll have one restaurant each in Delhi and Kolkata operational in 2005, and another in Mumbai in 2006. These will in all likelihood be new brands, but also under consideration is the Flury's tea room concept. In a highly competitive industry, the Park group seems to enjoy a soft spot among most captains of industry. "She's got no competition," says a prominent hotelier, "because she's catering to a mid-level corporate clientele where there are few options." That's not strictly true, since everyone from Trident to Fortune and the new no-frills IndiOne are aiming for the same slice of the pie. But there, Paul has an advantage -- location (always centre of town); facilities ("Small does not mean less luxury," says Paul); and a profile (strictly business) that has helped the group negotiate room nights for corporates across the country. It's one reason it's in a hurry to get into Mumbai, and second hotels in both Bangalore and Delhi are under consideration. "As a family, we're very focused on the hotels business," Paul confirms, "and we're in talks for acquisitions all over the place." A second phase could well look at the leisure market, but for now the focus is clearly on business locations. That's because a high percentage of the group's business comes from the domestic market. And here, Paul has used design as a differentiator to good effect. Designed by Sir Terence Conran, or Hersch-Bedner and Associates, she's now roped the Hersch-Bedner acolyte Thom Catallo of Catallo + MacKenzie for the Rs 25-30 crore renovations at The Park, Kolkata, that begin next year. Already, a new bar, Roxy has been added to the facilities there. Meanwhile, the three-year, Rs 35-crore Terence Conran-driven renovations at The Park, Delhi will wind down next year, after a complete makeover that has given the city hotel an edgy look and feel that is refreshingly different from most contemporary rooms in the capital. Already, the poolside has been re-done, while a new spa is on the anvil. The glazed bathrooms and starker rooms have LCD television screens and wield design as a marketing tool almost as effectively as others use discounting on tariffs. "Corporate guests may have little say in their choice of bookings," says an agent, "but guests will always remember the impact of a Park room, and that means they will ask for it by choice the next time." With a group turnover of Rs 135 crore (April 04-March 05), the Park group is looking to grow through a slew of internal accruals and debt. Hyderabd is just the springboard for a flurry of action on that front. "When we started the concept of boutique hotels," says Paul, "nobody in India knew what was happening in the rest of the world, so we had to establish the concept." Today, she's implying, you don't have to look to the world at all -- the Park should be adequate in indicating the global buzz.

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ITC chairman Y C Deveshwar, better known by his nickname Yogi, is a man who loves doing deals. It was no surprise, therefore, that he went out of his way to settle the 20-year-old tax dispute with the excise department of the central government earlier this week in pursuit of his stated intention to clean up the books of ITC and settle outstanding disputes and litigation. Deveshwar inherited a slew of disputes from his predecessors when he assumed the mantle at ITC -- they ranged from unpaid tax notices through criminal cases filed by the government of Singapore and trade-related litigation in the US. "Many would have described the inheritance as a crown of thorns but Deveshwar's commitment to the company has never wavered," say his compatriots in Kolkata. Deveshwar has braved criticism over the years at successive annual general meetings, from shareholders who would have liked ITC to dip into its vast reserves and issue bonus shares or other forms of shareholder reward. The chairman's position has been that the firm would be wise to conserve its resources till such time as the disputes could be resolved through a carrot and stick policy, of legal action and judicious pay-outs. He has conveyed this message to agitated shareholders over the years through replies that were strong on both logic and charm, and disarmed them. To be fair, not all his deals have worked -- an offer to settle such a dispute in Singapore was not accepted by the administrators there. So why did it work in India? It's because ITC is today seen as a true-blue Indian company (and Deveshwar can take credit for this too!) that has been investing in the rural economy and in crucial sectors of the economy much before such things became fashionable. The company's investments in the creation of a unique information-technology-enabled rural information and trading network, called e-choupal, and India's first rural mall at Sehore, have transformed ITC from a multinational peddling cigarettes to a venture with firm roots and commitment in the Indian economy. Its paper business has looked beyond the balance sheet through investments in social forestry programmes and environment-friendly technology. Its retailing and foods businesses have brought Indian products to the market without a hitch, and its hotels have Indian-ness at their heart.

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As far as the tax dispute is concerned, some credit doubtlessly goes to the government for being so pragmatic as to gracefully accept the verdict of the apex court and withdrawing the ill-advised Ordinance that sought to recover unjust dues through executive action. But just as much credit should go to Deveshwar's skill in cooling down what could have been a nasty run-in with the taxman. "You can succeed in doing a deal only if you are convinced about what you are seeking to achieve and also if are sure you can carry others with you -- Deveshwar has achieved both," says a fellow professional manager and CEO. The performance of ITC has silenced his critics on the board, including one-third shareholder BAT plc, which was initially very hostile to his plans to make ITC look beyond tobacco. While the boardroom presence of Indian financial institutions, also with one-third shareholding in the company, might have helped the settlement with the government, Deveshwar was clearly balancing two sets of critics while doing this deal. One the one hand, BAT could well have disputed the wisdom of paying anything in view of the favourable Supreme Court judgment, while on the other, the FIs could well have applied pressure for payment of the entire sum in the light of the Ordinance. Deveshwar can justly claim the entire credit for reconciling these viewpoints through his conviction, and, of course, his trademark combination of hard logic and charm.

RAJIV & RAHUL BAJA- BAJAJ AUTO For someone who is joint managing director of Bajaj Auto, Rajiv Bajaj pleads a technophobia that is almost amusing. He notes down appointments in an old red diary, keeps his mobile switched off most times, and refuses to allow a PC in his office. But then, he practically operates from the company's test tracks on the outskirts of Pune, driving new prototype mobikes to test their engines, or talking with his R&D team about the best spark plug to use to improve fuel efficiency. His penchant for perfection too is legendary -- he had vendors make 300 seats for a new bike and sat on each one of them to pick out those with the best grip. In striking contrast, younger brother Sanjiv -- the public face of the company and its executive director -- is a gizmo freak. He shows off his Sony Ericsson PDA mobile phone on which he jots down all his appointments and notes, smirking at those corporate honchos who're still raving over the bulkier Blackberry. They might be a study in contrast, but Rahul Bajaj's sons are united in a common goal -- to catapult Bajaj Auto as the country's largest mobike company. Once the country's undisputable scooter czars, the Bajajs saw the ground move away from under their feet in the late 90s when customers shifted dramatically from buying scooters to buying mobikes. Rajiv is candid: "Bajaj was used to customers queuing up for its products, not saying no to it." Worse, five years ago the company was at the bottom of the heap in the mobike market, with Hero Honda, TVS and Yamaha far ahead in terms of market share.

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But it has been a remarkable turnaround. Bajaj Auto hopes to end this financial year (2004-05) having revved up 1.5 million bike sales, a growth of over 50 per cent in volume over the last year. It has also grabbed a larger share of the market from its rivals, up from 23 per cent in January 2004 to 28 per cent in January 2005. And the yawning gap between its chief rival Hero Honda (its market share dropped from 53 to 50 per cent in the same period) is reducing each year. The brothers aren't breathing free of competition just yet. They are working on a new bike in the sub-Rs 30,000 category to take on Hero Honda's Dawn (Rs 29,999) and feed them with large volumes on the one hand, and attempting to reduce the price of their upmarket cruiser bike (The Eliminator, currently at Rs 96,000) to Rs 65,000 by putting in a new Pulsar engine into the mobike. Fresh out of university with a post-grad in engineering from Warwick, UK, Rajiv knew they had been caught napping when the world and its uncle shifted to riding bikes. The elder Bajaj scion, then a trainee in the family company, found solace only when he went to TPM guru Professor Yamaguchi for help. The guru said, "Business starts when the customer says 'no'," remembers Rajiv. The Bajaj brothers say the problem was of one of attitude: Bajaj was a scooter company and therefore the mobike department was given second-class treatment (it was only 10 per cent of their business in 1996), the quality of the products was poor, and they did not offer fuel efficiency the way the Japanese bikes did. In 1997, Rajiv walked into the Aurangabad plant and ordered it shut down. Says Sanjiv: "It was unimaginable and against everything Bajaj had stood for. In 40 years we had never shut production anywhere. But we realised that a shock needed to go through the system." Their father, he says, had not opposed the move. That was just the beginning. When the brothers discovered that they had over 1,000 vendors supplying them components, many of which were plain bad, Rajiv decided to prune them down to a realistic 200. And the labour force was trimmed down from 23,000 to virtually half that through a VRS scheme. "We had studied in the local school within the premises, had played with many of them, some were our friends," says Sanjiv, "suddenly, we had to let them go." The challenge was to get the right products at the right price, to bring in Japanese productivity tools to reduce costs just as the competitors were doing. Sanjiv, who had joined the company armed with an MBA from Harvard, says his reading of big companies like Honda, Toyota and Apple had taught him one thing: a successful company needs a good product. But most workers in the Pune plant did not believe you could bring in Japanese management practices into India; there was stiff resistance to the move. That's when the two brothers made an unusual decision. They decided to set up a new mobike plant but not at their existing facility in Pune. Instead, they chose Chakan, an hour's drive from Pune. Says Sanjiv: "We realised that sometimes people have to be taught by example. That's what we did in Chakan." Chakan was like a laboratory. There was no concept of workers -- everyone was "staff" -- and the factory had the luxury of a three-hour gap between shifts for maintenance. Productivity levels virtually doubled per worker as compared to the company's Pune plant, and it remains the benchmark to push productivity levels in all other units. The next challenge was to get the products right. Rajiv took up the cudgels by personally supervising even nittygritty details, from the styling and paint to the design of the console, the right grip and even the spark plug to use. A project for a bike is conceived depending on inputs from the marketing team. The design department then comes up with eight-10 different designs that Rajiv and his team narrow down to three or four. Feedback on the styling is sought through market surveys and, finally, two prototypes of the bike are made. Rajiv & Co work on at least two to three variations of engines, of which one is selected. This takes 24-30 months.

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That is how many of their hit bikes were built. Rajiv and Sanjiv found there was a market of customers looking for something more than just a bike for commuting -- they wanted rugged styling and more power. Pulsar (150 cc and 180cc) was born from this market reaction. But Sanjiv notes: "When we conceived the bike, we thought the target audience would be 25-35-year-olds. But when we saw the sales chart, it was being being picked up by 3545-year-old customers." The Bajajs say they realised the reason when they saw the stance that riders took while driving the bike -- the product was fulfiling the desire of the riders to take on a youthful persona. Perhaps in the same way the formally dressed executive in the US may drive a Range Rover SUV to create the image of a man who seeks adventure. Rajiv realised that to crack the 125 cc segment where Hero Honda had been ruling the market was going to require a very strong reason. A market survey showed that Honda's bikes provided reliability. But Sanjiv and Rajiv did not miss out on some key revelations: customers thought that the Honda bikes did not have enough power, and would prefer bikes with superior styling. Rajiv's mandate to the design department was simple: they would have to build a bike with these two basic qualities without compromising on either price or fuel efficiency. Bajaj Discover was born from this understanding, and the company sells over 25,000 of these bikes every month. But analysts say the brothers' drive for volumes is already effecting margins. A senior analyst in Motilal Oswal says margins of the company have fallen to 16 per cent (from 18 per cent earlier). He points out: "That they are selling 125 cc bikes at 100 cc prices is cause for worry. They are dependent on the entry level for large volumes. And three-wheeler sales are down." But Anang Dev Jena, chief of Synovate Motoresearch, argues: "They have shown superior understanding of customers and are projecting the right imagery. But it will be a while before they come near Hero Honda." The Bajaj brothers are aware that they need to grow faster. Ask Sanjiv and he will tell you that the next stop for them is the global market. And his sojourns in these markets have taught him how they are all different. In Africa, he says, it is the cheap Chinese mobikes that dominate the market -- the Japanese are conspicuous by their absence. "You cannot play the pricing game there," he reasons, "you to have to play on quality at a slightly higher price." But in South-east Asia, to contend with the Japanese, he says their products would be required to be priced between a Chinese mobike and a Japanese one, but with the quality of a Japanese bike. The good thing is that products like the Pulsar could sell in these markets, eliminating the need to create new bikes. And a beginning has already been made -- Bajaj bikes will now be assembled in its collaborator Kawasaki's factory in the Philippines. The brothers are more circumspect when you ask them whether the Bajaj brand will shine in China. Instead, they point out that China has over 1,000 manufacturers of two-wheelers, many of them of poor quality being assembled in garages. And they work on hidden subsidies. Here, Sanjiv narrates a story of his maiden visit to China. He met a well-known manufacturer of a publicly-quoted company who said that while he sold a half-million bikes, he showed only 3.5 lakh on his balance sheet because he does not pay taxes on the rest. But the more interesting part was that the local authorities encouraged him to do so, so he could go out and compete. "Shanghai might look like New York but it is a study in contrasts. On one side you have great infrastructure, and in the interiors you have the poverty of the masses," says Sanjiv. China might be four years away from Bajaj's debut there, but in the meanwhile the Brothers Bajaj have a long day ahead of them as they battle Hero Honda to take on the top slot on their home turf. Spot the brother 132

You might think Rajiv and Sanjiv Bajaj are workaholics, but you'd be wrong. The Bajajs believe in walking to office from home -- a stone's throw away in the Akurdi plant in Pune -- and call it a day by six in the evening. Both believe that work is like a sponge: the more time you give it, the more it soaks in, and that makes no sense. Their offices are simple to the point of being spartan. Even the conference and meeting rooms are devoid of art. Bajaj Auto insiders say there was a time when Rajiv's room did not have enough space for more than two chairs. Both brothers started their working lives from the shopfloor. Both have been keen sportsmen and their youthful energy shows. A few years ago you could have spotted Rajiv in the sportsfield playing football with Bajaj employees, till an injury took its toll and got him off the field. Sanjiv played basketball at the all-India level. Papa Rahul Bajaj is a globetrotter and on the committees of several industry associations, now that the sons have taken over the biz. "Papa starts the day late and sleeps late," says Sanjiv. "And he is always on the phone." Those who know Rahul Bajaj say he is proud of his sons, and while he comes to the office, he does not interfere in the day-to-day operations of the company. Work between the brothers is clearly divided. Rajiv, 38, is the products man -- scanning designs, meeting his R&D team, opening up imported bikes and going through them with a toothscanner. Insiders joke about his habit of moving around with the red diary in which he notes all appointments, a habit he picked up from his father. If you have not been entered into his red diary, it might be very difficult for you to meet him. In any case, he keeps away from the media gaze. Sanjiv, 36, is pushing the company's new thrust into exports. Unlike his brother, he's known to be more sociable. He loves Dire Straits and Pink Floyd, and is childishly excited about his new acquisition, an iPod in which he carries 4,000 songs while on the move. And don't be surprised if you see him at a multiplex seeing an English movie; Hindi movies are okay provided they aren't weepies. The two brothers might have different lifestyles but they make it a point to meet every day during a workout in the gym at home. And at the dinner table. The Bajaj household is never short of mobikes imported from around the world. Don't be surprised if you see Sanjiv whiz past in a Ducati Monster, his favourite at the moment because of its naked styling. As for their cars, big brother Rajiv drives a BMW, but younger brother Sanjiv who has just been given a Skoda Octavia has his eyes set on a Porsche: "When I have the money, of course," he jokes.

RAMAN SOOD- GRAND SAM FITNESS EQUIPMENT When Raman Sood started trading in fitness equipment over a decade ago, the industry was still an underdeveloped one in India. 133

Sood rode the tide and today his company Grand Slam has a turnover of Rs 10 crore (Rs 100 million), with a growth of 50 per cent slated for the next year. No business connection I'm not from a business family, which is one reason I feel a strong sense of satisfaction about having started and achieved something on my own. My father had a job with the Haryana government. I completed my graduation from Kurukshetra University and then came to Delhi for my MBA. Starting out I got a job with the circulation department of The Times of India. It was a very good job in its way -- in fact, I got promoted three times during my three-year stint -- but I kept asking myself: What next? I wanted the experience of starting a business of my own, of being responsible for myself. So I took a bit of a risk by leaving the newspaper and getting into the manufacturing business. Tough going With a very small investment -- there was no option, I didn't have a rich businessman father to back me -- I got into the business of manufacturing brass hardware for export; I later switched to brass furniture. Honestly, it was a major struggle and I never really got off the ground, but even with this failure I gained valuable experience in running a business. That helped me subsequently. Grand Slam Around 13 years ago, I incorporated Grand Slam, a business for trading and retailing in toys and sports goods. Around this time I also got in touch with someone representing the US-based fitness company Icon, which was looking for someone to distribute its products in India. I saw promise in the fitness industry, which was so big abroad but had yet to take off in India. I moved the toys and sports goods to another showroom nearby and kept the original showroom exclusively for fitness equipment. Why is fitness big? This business has grown on the fitness boom. In recent years, middle- and upper-class lifestyles have changed in small but significant ways; for instance, earlier, one used to walk to the local marketplace, now one drives to the malls. So people are now feeling the need to set aside a time for dedicated exercising. Even our role models have become leaner and tougher -- when I was a child, someone like the portly Raj Kapoor could be considered hero material! And of course, the foreign media has had a huge influence -- without them, our turnover would probably be 50 per cent of what it is. Growth We have 15 stores across India and are opening another five next month. A further 10 will be added next year; besides the major towns, I am looking at smaller places like Vijayawada as well. 134

People ask whether such places are ready for sophisticated fitness equipment, but I think of it as a pre-emptive strike. After all, 10 years ago, Delhi was no different. We have gone from selling one treadmill in three months to selling five motorised treadmills a day. Around 60 per cent of our clients are walk-in customers, but we also have institutions and gyms approaching us for equipment. Further, we have done some work with corporate offices to help with their gym installation. We have tie-ups with fitness brands like Johnson and Reebok. The personal touch To be honest, I'm not much of a fitness freak myself. I love jogging and occasionally do treadmill and lightweight workouts -- but I'm addicted to eating as well, so it cancels out. But if it helps, I don't spend too much time just sitting down: I still try to interact with customers as much as possible when I see them looking at the equipment. In fact, sometimes my staff has to tell me to take it easy and leave the explaining to them! Dheeraj Gupta- JUMBO KING Dheeraj Gupta, 30, could have easily joined his family's well-established business. Instead he decided to do his own thing. Taking inspiration from fast-food burger chain McDonald's, Gupta decided to sell Mumbai's favourite poor man's food as a brand. Three years ago he started Jumbo King, a branded vada pav chain. Gupta has changed all the rules by introducing automation, packaging, a larger size, different cheese, round bread (otherwise the pav is square) and flat patties instead of round. From one store outside a suburban local station, today there are seven in the city. And Gupta is looking at franchises across the metropolis. In three to five years time, he wants Mumbai to have 75 Jumbo King outlets. By next year, he wants to double his current turnover of over Rs 1 crore (Rs 10 million). My grandfather was the real pioneer in our family. He migrated to Mumbai from a village close to Haryana in the '40s and started as a cleaner at a tea stall at a station. He gradually built a business of vending stalls. Later, my father and uncles took over and built the restaurant and hotel business. I had a very comfortable childhood. Born and brought up in Mumbai, after schooling at Jamnabai Narsee, I did my catering course from the Dadar Catering College and have a management degree from a Pune institute. I wanted to do something on my own, but related to the food industry, particularly fast-food. At the time, the McDonald's and Pizza Hut had not opened yet, otherwise I would have loved to have worked for them. After my management degree in 1998, I decided to set up my own business selling packaged Indian sweets. I had an idea that if we could somehow innovate and increase the shelf life of Indian mithai, there was a huge export market waiting to be tapped. So borrowing Rs 500,000 from my brother, I set up a company called Manali Foods. We tried various things, even set up a research lab to find out how to improve shelf life, but nothing worked. I soon realised the futility of the business model and began to look ahead. 135

During that time, when we were tapping the export market, I had made a trip to London and stayed with a person who was a Burger King franchisee. That's when I saw how their business worked. Coming back, I happened to come across a book - Behind the Golden Arches - about the person who set up McDonald's. It inspired me tremendously and I decided to follow the same model. Vada pav was the obvious food choice because Mumbai-ites love it. I borrowed Rs 200,000 from my family and set up an outlet, which the family owned, near Malad station, a Mumbai suburb, and called it Chaat Factory. The plan was to brand and sell all the chaats available in the market in a hygienic manner. But we started with only the vada pav. One day when I was standing at the store, two ladies called the store a con, since we were only selling vada pav. So I immediately decided to change the name. Since we were selling a larger vada pav than what was available in the market, we decided to rename it Jumbo King. Initially there were a lot of objections; everyone told me I was mad to waste my management degree by selling vada pavs. But I was determined to make it a success. I had priced the vada pav at Rs 5 whereas it sold for as little as Rs 2 in the market. But my selling proposition was hygiene. Since I had nothing to lose, I experimented with everything - two outlets on the same side of one station, packaging, vada pav with cheese, flat patties, round bread, toasted bread and so on. In the last quarter of the first year, we made a total of Rs 600,000 from just one outlet. The other outlets opened in 2003. I was worried at first about expanding because I was dealing with a perishable commodity, and catering to far-off places from a centralised kitchen was a constant worry. But we have introduced temperature controlled frying machines to automate the manufacturing process for hygiene and to reduce waste. We have also put the cold chain in place. Now we're even looking at franchises, but we want to grow steadily. Right now, I'm concentrating on improving the logistics and distribution and making sure we have the right systems in place.

RAJAT SETHI - Carabin

Rajat Sethi didn't want to "make boxes and sell them to people", as he bluntly puts it. So instead of joining his family's corrugated box business, he and his cousin Yash pooled in their savings and started a company for manufacturing mountaineering and trekking equipment. There wasn't much encouragement from family members at the time, but Carabin International grew through word of mouth. The company got a big boost a few years ago when it won contracts to import and distribute products of international companies like Camp and Ark Inflatables. Carabin has also recovered well from the recent slump in tourism and is now making around Rs 1.5 crore (Rs 15 million). My family is Delhi-based. My father was a businessman -- his company handled the packaging of corrugated boxes for Bata and other companies. Sadly when I was still in school, he passed away. Being the only son in the family, I was expected to keep the business going in some way. But to be honest, I wasn't too enthused at the prospect of a conventional business. The idea of making boxes and selling them to people didn't excite me. 136

So in 1993, when I was still in the 12th standard, I decided to start something in partnership with my cousin, Yash. Since my school days, I had been interested in mountaineering. Whenever I got the opportunity, I would catch the bus to Manali, or go on a trek or rafting, or join a jungle camp. And consequently, I was only too well aware of the shortcomings in the equipment available in India at the time. To begin with, there were very few options for buying mountaineering or trekking gear. Worse, the quality was poor despite the equipment being exorbitantly priced. I remember once buying a sleeping bag and a rucksack for a trip to Leh. The dealer assured me that it would be suitable for temperatures down to minus 5 degrees C. But when I got to Leh, the equipment was inadequate though the temperature hadn't touched even zero degrees! In short, I knew there was a need gap. Of course, my relatives were aghast; they wanted us to stick to a tried-and-tested business. But Yash and I went ahead. We pooled in Rs 250,000 each and started Carabin. Little investment was required for a place to start our operations, because we still had the factory from the earlier business. Most of the money went into buying the machinery and the nylon fabrics, hiring tailors and conducting research. We also started advertising on a modest scale and built up contacts with travel agencies and tour operators. We started by manufacturing tents, rucksacks and sleeping bags but over the years, as the business was consolidated, we also got into more technical equipment, like that required for rock-climbing, rafting, etc. A lot of planning goes into the making of such equipment. For instance, for a rucksack to be of optimum quality, the weight must be equally distributed between the shoulders and the waist. This may sound simple, but I remember how often during my mountaineering days I was saddled with uncomfortable, impractical equipment. We continued to grow through word of mouth. Then, four years ago, there was a new development in the industry. Until 1999, the Indian Army had used equipment made in India. But when the Kargil War broke out, there was a realisation that higher-quality gear was required, and so equipment began to be imported. Foreign companies were looking for dealers and a couple of them -- including the Italian company Camp, Switzerland's Sigg and South Africa's Ark Inflatables -- entered into agreements with us. Since then, we've been distributing their products in India. There was a lull in our business a couple of years ago, with tourism being affected the world over. But we are on the upward curve again, with dealers in Goa, Mumbai and Sikkim. The armed forces account for a large chunk of our buyers -- but even a small order from them is around Rs 50 lakh-1 crore (Rs 5-10 million). While the scope of this business is small -- in the sense that there aren't many ways in which we can diversify -- we are on the lookout for more tie-ups with foreign companies. RAJINDER SINGH & ABHIK DUTTA- The Wanderers 137

A chance meeting at a personal development course between two strangers, Rajinder Singh and Abhik Dutta, led to the beginning of The Wanderers -- a travel company that focuses on lesser known exotic destinations. Unsure of what to do with their lives, Dutta and Singh realised they shared two interests -- travel and Sikkim. Dutta roped in college friend Ashis Das, who was also drifting along in a job he didn't like. With less than Rs 10,000 as capital, two offices were set up Mumbai and Kolkata -- one in Singh's garage and the other on the ground floor of Dutta's residence. Their first client was a honeymooning couple, after which business took off through references and a promotional tie-up with the Crossword bookstore. Today, the company, an equal partnership, has a turnover of Rs 3 crore (Rs 30 million), which will double by year end. Rajinder: I was an above-average student and was expected to follow in my father's footsteps and become an engineer. But I had an individualistic streak. After doing my BSc in Physics, I joined a small ad agency as a media assistant, earning Rs 800. I quit that to do a diploma in management, after which I joined an Indo-Japanese joint venture company ACN Enterprises in their electronic typewriter division. The training was great, but I wanted more. Without giving it much thought, I started my own computer business -- Asteroid Computers. My initial capital was Rs 5,000. The computer industry was doing extremely well, so the going was good. At its peak, my turnover must have been Rs 60 lakh (Rs 6 million). Then the slowdown happened. A partner cheated me and I was totally disillusioned. That's when I joined the Landmark Forum course and met Abhik. We started talking and realised we both loved travelling and Sikkim. A vague idea germinated about selling Sikkim as a destination to Mumbai-ites. I wrapped up my computer business, Abhik spoke to a friend of his and we set off to explore Sikkim. We came back and set up The Wanderers -- named after us since we were, in a sense, wandering. Abhik: My father was in the army and because of that I did part of my schooling at a boarding school near Darjeeling. I met Ashis soon afterwards and we became good friends. After graduation I worked with the Calcutta Yellow Pages briefly and then with Graphics India where I earned Rs 3,500 a month. After a year and a half there I sat for the Indo-Burma Petroleum nationwide exam for sales executives. After training I was posted to Nagpur for three years and then transfered to Mumbai. It was in Mumbai that I got coerced into attending the Landmark Forum programme, which is where I met Rajinder. Getting our first client was a big milestone, deciding to quit our other jobs was a huge risk and all of us faced opposition from our parents who came from middle-class backgrounds. Though we started The Wanderers in two offices we soon realised that all the business was coming from Mumbai and that we didn't really need an operational base in Kolkata since most hoteliers and contacts were Internet connected. So in 1999, after I got married, Ashis and I shifted to Mumbai and moved on. Since then we've never looked back. Initially, the lack of money was a problem; we didn't have a computer so we would-hand write proposals and fax them from neighbourhood stores. Ashis: I come from a family of businessmen. My father and uncles are into distributorships for consumer products, construction and exports. 138

I was tired of being known only as someone's son or nephew, which is why I joined LIC as an agent in 1991. I used to advise clients on financial planning as well. After six years I joined my family business. In mid-1996, Abhik came back to Kolkata and we went to visit the annual travel and tourism fair. Then, after meeting Rajinder, one day Abhik called me and we discussed the idea and I agreed to it at once. After a lot of hard work, we have reached where we are today. We are looking at growing the company by focussing strongly on lesser-known destinations like Bhutan, Peru, Chile and New Zealand to Indian families and corporates. We do not offer budget travel but luxurious personalised travel packages.

Jagdish Saxena -Elder Pharma

Jagdish Saxena, 60, managing director of the Rs 235 crore (Rs 2.35 billion) Elder Pharmaceuticals calls himself an entrepreneur by accident. He preferred being an employee and collecting a monthly pay cheque. But he was forced into entrepreneurship when the company he was working for shut down its pharma division. Putting together some savings and loans from banks and friends, Saxena started Elder Pharmaceuticals. The big turning point for the company came when it started selling calcium supplements. Today, the company has over 2,000 employees and is looking at a turnover of Rs 450 crore (Rs 4.5 billion) in the next year. I CAME from a reasonably middle-class family based in Delhi where my father was a gazetted officer. No one in our family was into business, in fact most of my relatives were in government service. I graduated in botany from Delhi University and even did a year of the masters course. But in 1960 I was selected for the Indian Air Force and decided to take it up. I left college and completed the year-long commission after which I resigned. After quitting, I considered a number of job offers and then finally joined Tata Fison. Though I was initially in sales, I later became the resident representative. I was earning Rs 1,200 then but had a company house and other amenities. In 1969, I was promoted to sales manager of the pharmaceutical division and I moved to Mumbai with my wife and sons. And then in 1971, the company was merged with Rallis. We were transferred there but as it happens with a merger, one loses one's identity. So in 1973, I quit and shifted to the Apeejay Group. The plan at Apeejay was to start and take care of the pharma company. I joined them as a marketing manager, went on to become director and then managing director. I was with them till 1988, when the group decided to close the division. Suddenly 400-odd people were without a job. I thought about them and the fact that we had an existing base of people who were experts in selling and marketing pharmaceuticals and decided to start something using this base. Help came from unexpected quarters. I had about Rs 450,000 as my own savings. I took loans from IDBI and other banks. The three-acre land for the factory we set up in Nerul (Navi Mumbai) came from another source. Looking back now, I would never do the same thing again. My family was disturbed about my decision. From having a stable income and amenities they had to get used to me running a business. But they were extremely supportive. I was sure we would come through.

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We had registered many names for the new company but all were rejected. The name Elder came from my trip to Australia. One day while crossing the road I saw a truck with the name Elder Food Production. So I returned and registered the same name. We started out with two or three products in antibiotics and other therapeutic areas. Everyone would talk about how we would shut down the next month. But the real turning point came in the first year when we got a large order from Russia and we were very lucky that way. Then I hit upon the idea of producing calcium supplements from natural sources and that is how Shelcal was born. It was a product that nobody was willing to sell and everyone said it would fail. Calcium was a very small market, had no visibility and then to top it I went and priced the product at 10 times the price of other calcium supplements available in the market. Everyone thought I was mad. But by the second year, with all our marketing efforts it took off. It became clear that we were selling a treatment and not just calcium. We made a turnover of Rs 6 crore (Rs 60 million) in the first year and have never looked back. Today we have four factories and are looking at many more products and also moving into mass markets. We have just set up our own bulk drug manufacturing facility and our vision is to reach Rs 1,000 crore (Rs 10 billion) but I don't have a time frame for that target. VIJAY NAGPAL SPEEDWAY FOOD & BEVERAGES

Vijay Nagpal confesses that he's nuts about nuts. So, it's no wonder that, he turned his passion into a business and started Speedway Food and Beverages two years ago in Delhi. The company manufactures and distributes Star Nuts, which it says are 100 per cent cholesterol-free. Nagpal worked in his family business of rice and tea exports for over 10 years before he decided to switch streams. While hunting around for a business opportunity, Nagpal realised that the market for nuts was totally unorganised and there wasn't a single branded player. Moreover, he felt there was a market for nuts as snacks if they were easily available and in the right pack sizes. Today Star Nuts are available in all the metros and there are plans to export it to the Gulf. Nagpal has also recently entered into a tie-up with US-based Solae, a joint venture between DuPont and Bunge and is now manufacturing and distributing health bars. A couple of years back I decided to move out of the family business and start something new. I realised that there was a market for nuts in India as there were no organised players. Also, the middle class is fast becoming extremely health conscious. With heart diseases on the rise, cholesterol is becoming a major problem. I felt that if a cholesterol-free healthy product was offered which did not compromise on taste, it would sell. That was the basic concept behind Star Nuts. We buy raw nuts such as peanuts, cashews, almonds and pistachios from traders and then process them. What really distinguishes our product is that it is roasted and not fried. This makes it 100 per cent cholesterol-free. Cholesterol is of two kinds -- good cholesterol and bad cholesterol. The cholesterol, which the nuts have naturally is good cholesterol which does not lead to heart diseases. The bad cholesterol is a result of frying. By roasting the nuts, we eliminate that. So we are able to offer healthy snacks. 140

We have got our nuts certified from various agencies and laboratories that have certified our claim of being cholesterol-free. Star Nuts are available in seven different flavours such as cheese and tomato, pepper etc. We have to keep the Indian palate in mind. We are planning to introduce a samosa flavour. Our latest offering is the health bar. It is a strawberry-flavoured wafer, which has soya nut as its main ingredient. We have entered into a tie-up with US-based Solae, which is a joint venture between DuPont and Bunge, which is a leading supplier of soya protein-based ingredients. The technical know-how is also from Solae. The health bar is meant for the person on the go. If you have two 40 gm health bars it is equivalent to a meal. Abroad, most health bars are chocolate coated. However, we decided to go for a wafer-like product instead because a chocolate-coated product would need to be refrigerated. This would cause problems in distribution. Also, in India chocolate has never been associated with health. Moreover, a chocolate flavoured product is automatically seen as a product for kids. We have set up a manufacturing plant, which has the capacity to manufacture 4,000 health bars a day. We are promoting the bars at various health clubs and gymnasiums in Delhi. We have also held promotions at some call centres. The product will soon be available at all the metros. I'm also in talks with airlines and the railways for making Star Nuts and the health bars available on board. Another distribution network that we are looking at are the army canteens. If that comes through then our products will be available across the country. I'm planning to export Star Nuts to the Gulf countries and also to England. Since I was involved in the family export business, I got to learn in detail about foreign markets. That is coming to my aid now. I've spoken to a few dealers abroad and they have shown an interest in my product. Within a few months my products will be exported. I'm also planning to enter the breakfast cereal market. Here too, our product will be based on the health platform.

Scott Mcnealy and Sun Microsystems

Background McNealy was born on November 13, 1954 in Indiana. His father, William McNealy was vice chairman at American Motors Corp. (AMC).7 As a child, McNealy took an avid interest in the auto industry - an interest encouraged by his father, who often discussed business with the youngster and allowed him to accompany him when he went to play golf with people like Lee A. Iacocca.8 After attending Cranbrook Kingswood School, a preparatory school near Detroit, McNealy was accepted at Harvard University, from where he graduated with a degree in Economics in 1976. He then tried for a place at Stanford Graduate School of Business (Stanford) but was rejected. While trying for an admission into Stanford, McNealy took up a job as foreman at the Rockwell International Corp. (Ohio), which made body panels for trucks. When he eventually got into Stanford in 1978, he chose to specialize in manufacturing rather than the more popular finance. He was not a dedicated student and later admitted that he spent more time goofing off' than in classes. One of his classmates recalled that McNealy never bothered to attend any class that he did not think would 141

help him get a job. At that point McNealy was not ambitious. Reportedly, his ambition was to start a small machine shop that he could leave to his children, and then, to retire early. After graduating in 1980, he worked in the manufacturing departments of FMC Corp. (which made tanks for the US army) and of minicomputer maker Onyx Systems. In 1982, Vinod Khosla (Khosla), McNealy's classmate at Stanford, asked him to join him, Andy Bechtolsheim (Bechtolsheim) and Bill Joy (Joy) in starting a computer manufacturing unit to make and sell workstations operating on UNIX. In April 2006, Scott McNealy (McNealy), the co-founder of Sun Microsystems, Inc. (Sun), announced that he would step down as the CEO of Sun in favor of the company's president and Chief Operating Officer (COO) Jonathan Schwartz (Schwartz). This was significant news for the IT industry, as McNealy had been at the helm of Sun for the last 22 years and had steered the company through a series of ups and downs in the industry. The announcement was made on the same day that Sun announced a loss of $217 million4 for the quarter ended March 31st 2006, (taking the company's cumulative losses since 2002 to a staggering $4.5 billion). It was not a surprise as Wall Street had been calling for McNealy's resignation since the early 2000s when Sun first went into decline following the bursting of the dotcom and telecom bubbles in 2000 and 2001 respectively. Between fiscal years 2001 and 20055, Sun saw its sales fall 39 percent and its share price plummet from a peak of $64 in mid 2002 to around $4 by 2005. Following the announcement of McNealy's exit, the stock gained 8.6 percent in extended trading and reached its highest level of the year at $5.41 McNealy said that the leadership change was a part of the company's succession planning efforts, and that he was looking forward to playing the role of 'chief evangelist' within Sun. However, some analysts felt that that the board had forced McNealy to step down under intense pressure from Wall Street over the company's poor financial performance. McNealy was to continue as the chairman of Sun's board as well as chairman of the board of Sun Federal, Inc.6 McNealy was as well known in the IT industry for his visionary leadership of Sun in the 1980s and 1990s, as for his witty takes on competitors, especially Microsoft Corp. (Microsoft)... He was one of the most controversial leaders in the industry, but even his harshest critics could not deny that he played a pivotal role in shaping the future of computing. It was not surprising therefore that when the leadership change at Sun was announced, analysts said it was the end of an era in the history of the IT industry. The Golden Years It was McNealy's dynamism and vision that were largely responsible for Sun's rapid growth in the first two decades of the company's existence. When McNealy first joined Sun, he was in charge of manufacturing, but later became responsible for sales as well. This helped him develop a good understanding of different areas of the business. After McNealy became CEO in 1984, he played an important role in shaping Sun's vision that The Network is the Computer'. Sun was committed to developing technologies that would allow computers to connect seamlessly over a network, thus increasing their power tremendously. Networking would allow computing to be provided like a utility, just like electricity and telecommunications... The Decline The beginning of the new millennium turned out to be inauspicious for the US economy. The collapse of several dotcom and telecom companies combined with the September 11 terrorist attacks on the US sent the economy into a decline, and one of the worst affected by these adversities was the IT industry... Conclusion 142

According to analysts, Sun could have become one of the giants of the IT industry, on par with IBM and Microsoft. Many concepts that had become the standard in the early 2000s, like networking and open source, were first popularized by Sun. But the company took some missteps along the way, which did not allow it to take advantage of its resources. "They've (Sun) always had lots of great things on paper. But when it comes to execution, they're lacking. They always seem to be behind where they need to be" said Gary Feierstein, vicepresident for information technology at Premier Inc., a hospital management company...

GEORGIO ARMANI- THE FASHION GURU The Beginnings Born on July 11, 1934, in the small northern Italian town of Piacenza, Armani had a difficult childhood, growing up as he did during the Second World War. He initially aspired to become a doctor and in pursuit of his childhood ambition, he attended two years of medical school at the University of Bologna near Milan.However, he soon found that he was not cut out for the medical profession - the sight of blood sickened him. In 1953, he was called to fulfill his military obligations where, because of his medical training, he was assigned to the infirmary. His work at the infirmary cemented his decision of dropping out of the medical line. Because he was often alone in the infirmary, Armani spent a lot of time polishing his painting skills (which stood him in good stead when he became a designer). After completing his military service in 1954, Armani joined La Rinescente, Milan's largest department store, as a window dresser. He was later promoted as a buyer, in which capacity he made regular trips to London, where he sharpened his sense of style and fashion. In the early 1960s, he joined Nino Cerruti (Cerruti), a prominent fashion designer, as an assistant designer for his men's wear brand, Hitman. Over the next few years, Armani took up freelance work for several clothing companies (while still in Cerruti's employment). He even did some designing for top fashion houses Ungaro and Zegna. The turning point in Armani's life came in 1966, when he met architect Sergio Galeotti (Galeotti). Galeotti had immense confidence in Armani's talents as a designer and encouraged him to set up his own label. Eventually, in 1970, Armani left Cerruti and established his own freelance business. He brought out his first line of men's wear under his own name in 1974. The designs became so popular that he officially launched his own label, Giorgio Armani, in 1975 with the setting up of Giorgio Armani SpA in Milan. Giorgio Armani SpA was set up with an investment of $100,000, part of which was raised by selling Armani's Volkswagen car. In the mid-1970s, a greater number of women began entering the work force and Armani was quick to tap this market. In 1975, he brought out a women's wear line using men's fabrics, and this proved to be a huge hit. Analysts later said that he was the pioneer of power dressing for women. Giorgio Armani - Superstar It was the night of the 21st Annual Night of Stars, in late October 2004; a gala event organized in New York by the Fashion Group International4 and attended by the biggest names in the world of fashion. At the event, Giorgio Armani (Armani) was honored for lifetime achievement in the field of fashion and conferred with the 'Superstar Award'. While some people thought that receiving a lifetime achievement award marked the pinnacle of his career (and signified its end), Armani was determined to prove otherwise. "Thanks for the kind thought. 143

But don't imagine that I'm going to disappear, or that you'll get rid of me. I'll accept the award, but I'll keep on generating ideas," was Armani's response to the honor5. He also said, "A [lifetime] career award signifies closure or a conclusion, but I just want to be precise that it's not my case. It's an important recognition, but honestly I would have preferred to receive an award for the best collection."6 This response was typical of Armani, thought analysts. One of the top fashion designers in the world, Armani showed no inclination to retire even after he celebrated his 70th birthday in 2004. His clients included Hollywood stars, prominent socialites and members of the royalty. However, his clothes were not confined to the upper classes alone. Over the years, Armani introduced several sub brands that offered beautiful clothes at affordable prices, making them accessible even to the 'not so rich' classes of society. Armani's fashion house, Giorgio Armani SpA, was one of the rare profitable organizations in the extremely dynamic fashion industry, where trends and fortunes change overnight. The house had been steadily profitable since it was set up in 1975. It was also one of the few stand-alone fashion houses in an industry moving toward huge multi-brand luxury conglomerates. Armani's fashion house had long resisted bids from bigger institutions like Mot Hennessy Louis Vuitton (LVMH) and Gucci, who were eager to add the profitable brand to their portfolios. In addition, Armani was one of the rare cases where a designer was also involved with the business side of his enterprise.

KIRAN MAZUMDAR SHAW- BIOCAN

Kiran was born and brought up in Bangalore in the state of Karnataka, India. She hailed from a middle-class family, which encouraged her to pursue higher education. Following the footsteps of her father, who was chief brewmaster6 in United Breweries7, she went to Ballarat College in Melbourne, Australia, to specialize in Malting and Brewing Technology to become Indias first woman brewmaster. Kiran came back to India in 1975 expecting to get lucrative job offers. However, she did not receive any. Though she possessed the required technical qualifications, her chosen profession was completely male-dominated one8. After staying for two years as a consultant in India, Kiran went abroad and found a job in the UK. There she met Leslie Auchincloss (Auchincloss), the owner of Biocon Biochemicals Limited, an Ireland-based company. Auchincloss was planning to start a business in India. The Irish company wanted to establish its operations in India to produce simple bio-products from indigenous raw materials. The Growth of Biocon Biocon started with the manufacture and export of Papain, a plant enzyme, and Isinglass, a marine hydrocolloid, 11 which are key products for the brewing industry. Within two years, Biocon established a steady flow of exports to Ireland. As the offtake of the companys products by Ireland grew, Biocons manufacturing activity was shifted from the rented garage to a 20-acre site near Bangalore city in 1983. Kiran was not content with the steady growth in the product offtake by the Irish company. In 1984, she decided to recruit a team to commence research and development (R&D) in new areas of enzyme technology. Businesswoman of the Year 2004 In November 2004, Kiran Mazumdar-Shaw (Kiran), the Chairperson and Managing Director of Biocon India Limited (Biocon) received the 'Businesswoman of the Year Award,' from 'The Economic Times of India, 2' a leading Indian business daily. This award was to be given to a person who "was global in nature and would have shareholders' good 144

uppermost in mind. The person should have followed her heart and vision relentlessly, broken all glass ceilings 3 and pioneered the cause of women in business."4 It symbolized the increasing importance of the role of women in the Indian business arena. One of the most successful businesswomen in India, Kiran had received several awards during her career of over 25 years She founded Biocon as an enzyme extraction company in a rented garage in 1978. By 2004, Biocon had emerged as the #1 biotech company in Asia, and #16 in the world in terms of revenues and market capitalization. The company made its initial offer of shares to the public in March 2004. The shareholders earned handsome returns on their investments as the stock, which was offered at Rs 315, touched a high of Rs 780 in early November 2004 Reportedly, Kiran had to break through the 'glass ceiling' effect on several occasions being a woman entrepreneur in the traditional Indian society.

She believed that Indian women can do well in business even if they don't belong to a business family or have political influence or immense wealth. Kiran believed that women in India were not meant for only certain kind of jobs like teacher, nurse or personal secretary, or for running a small or cottage industry at the most. She considered herself a representative of the modern women who could work shoulder-to-shoulder alongside men and build mega businesses. Expressing a deep desire for equality, she said in her award acceptance speech, "I do hope that in the not-too-distant future, there will be one award for men and women alike - the Businessperson of the Year Award."

Self Employed Women's Association (SEWA)

Formation of SEWA In 1971, a few women handcart pullers approached Ela Bhatt (Bhatt), head of the Womens wing of the Textile Labor Association (TLA), in Ahmedabad, India, with problems like low and erratic wages, poor working conditions, etc. Bhatt was aware that most of the women did petty jobs, working as garment makers, vegetable vendors, handcart pullers, milkmaids, hawkers, etc., to supplement their family income. About 97% of the women lived in slums and 93% were illiterate. Bhatt soon realized that women employed in the informal8 sector were unorganized, unprotected, economically weak and had no bargaining power...

Organization and Growth of SEWA In 1972, the garment workers formed their own co-operative. They were the first group to be organized under SEWA. By 1977, six other groups - used garment dealers, handcart pullers, vegetable vendors, junk-smiths, milk producers and miscellaneous workers - formed their own cooperatives. The co-operatives were formed with the share capital provided by the women. Each co-operative was run by a democratically elected executive committee of workers. Initially, SEWA provided the required capital to the cooperatives, but once they were established, they functioned on their own. The members of the co-operatives shared their skills and expertise, developed new tools, designs and techniques and were engaged in joint marketing efforts. The members of SEWA increased from 320 in 1973 to 6,94,551 in 2002. The self-employed women could be divided into four main groups: home-based workers, street vendors, 145

contract laborers and small producers. Any self-employed woman over the age of 15 was eligible to become a member of SEWA by paying a nominal annual fee of Rs. 3. In 1975, the annual membership fee was increased to Rs. 5 (0.11 USD11). Activities of SEWA SEWA provided access to easy credit through the savings and credit co-operative, SEWA Bank. SEWA also extended help in providing social security services like housing, childcare and health care facilities. Realising the need to train the members it established the SEWA Academy. With reference to the various activities undertaken by SEWA, Bhatt said, "These organisations invigorate the movement to go ahead and in the process more organisations take birth and take roots. It is like the banyan tree whose branches take roots and grow into independent self-reliant trees throwing out more branches and so on. The banyan tree sprawls on the ground for generations to come. Even cutting down a branch from the mother tree would not destroy any one, both will survive." Empowering Women In August 2003, Reema Nanavaty, director of the Self Employed Women's Association (SEWA) signed an agreement with the Taj Residency Ummed2 (Taj) in Ahmedabad,3 India, to open an outlet of SEWA products within the premises of the Taj. This agreement would enable SEWA to target foreign tourists coming to India, in keeping with its strategy of targeting international markets for its textile and handicrafts products. Since its inception in the early 1970s, SEWA has been working towards organizing and empowering poor, self-employed women workers in rural and urban areas in India. SEWA has organized self-employed women from different trades and helped them get regular employment, easy access to credit, childcare, healthcare facilities, etc. SEWA was more than an organization; it was a movement - a combination of labor, women and co-operative movements. According to Ela Bhatt, founder of SEWA, "It took ten years to build an organization and twenty years to build a movement."4 SEWA was affiliated to HomeNet - the international network for home-based workers - and Streetnet International - an alliance of vendors & hawkers. These affiliations helped SEWA extend its movement to the international level. SEWA also received grants from the Government of India (GoI), The United Nations Children's Fund (UNICEF)5, the Ford Foundation6, and the International Labor Organization7.

Mumbai's Dabbawalas - An Entrepreneurial Success Story Background Note The origin of the Dabbawalas' lunch delivery service dates back to the 1890s during the British raj.9 At that time, people from various communities migrated to Mumbai for work. As there were no canteens or fast food centers then, if working people did not bring their lunch from home, they had to go hungry and invariably, lunch would not be ready when they left home for work. Besides, different communities had different tastes and preferences which could only be satisfied by a homecooked meal. Recognizing the need, Mahadeo Havaji Bacche (Mahadeo), a migrant from North Maharashtra,10 started the lunch delivery service. For his enterprise, Mahadeo recruited youth from the villages neighboring Mumbai, who were involved in agricultural work. They were willing to come as the income they got from agriculture was not enough to support their large families, and they had no education or skills to get work in the city. The service started with about 100 Dabbawalas and cost the client Rs.2 a month. Gradually, the number of Dabbawalas increased and the service continued even though the founder was no more... A Six Sigma Performance 146

Every day, battling the traffic and crowds of Mumbai city, the Dabbawalas,3 also known as Tiffinwallahs,4 unfailingly delivered thousands of dabbas to hungry people and later returned the empty dabbas to where they came from. The Dabbawalas delivered either home-cooked meals from clients' homes or lunches ordered for a monthly fee, from women who cook at their homes according to the clients' specifications. The Dabbawalas' service was used by both working people and school children. In 1998, Forbes Global magazine, conducted a quality assurance study on the Dabbawalas' operations and gave it a Six Sigma efficiency rating of 99.999999; the Dabbawalas made one error in six million transactions. That put them on the list of Six Sigma5 rated companies, along with multinationals like Motorola and GE. Achieving this rating was no mean feat, considering that the Dabbawalas did not use any technology or paperwork, and that most of them were illiterate or semiliterate. Apart from Forbes, the Dabbawalas have aroused the interest of many other international organizations, media and academia. In 1998, two Dutch filmmakers, Jascha De Wilde and Chris Relleke made a documentary called 'Dabbawallahs, Mumbai's unique lunch service'. The film focussed on how the tradition of eating home-cooked meals, and a business based on that, could survive in a cosmopolitan city like Mumbai. In July 2001, The Christian Science Monitor, an international newspaper published from Boston, Mass., USA, covered the Dabbawalas6 in an article called 'Fastest Food: It's Big Mac vs. Bombay's dabbawallahs'. In 2002, Jonathan Harley, a reporter, did a story on the Dabbawalas with the Australian Broadcasting Corporation (ABC). In 2003, BBC also aired a program on the Dabbawalas, which was part of a series on unique businesses of the world. In 2003, Paul S. Goodman and Denise Rousseau, both faculty at the Graduate School of Industrial Administration of Carnegie Mellon University, made their first full-length documentary called 'The Dabbawallas'. According to the press release of the TV station presenting the documentary, "The film also serves as a counterpoint. Instead of asking how knowledge in developing countries can help less developed countries, this film focuses on how developed countries can learn from less developed countries".7 Back home, the Dabbawalas were invited to speak at Confederation of Indian Industry (CII)8 meets and at leading Indian business schools such as IIM, Bangalore and Lucknow.

Warren Buffett - The Investment Guru

Buffett - Early Days Buffett was born on August 30, 1930 to Howard and Leila Buffett of Omaha (Nebraska State). He was the only son among the three children in the family. Even as a child, Buffett displayed keen interest in numbers. He could remember the baseball scores, and the horseracing odds; anything to do with numbers fascinated him. He also displayed a flair for money. While other kids of his age spent time playing, Buffett was busy making money. At the age of five, he set up a gum stand on the sidewalk at his home and sold chewing gum to passersby. During the summers, he made money selling lemonade. When Buffett was nine years old, he along with a few friends, collected golf balls from the local golf course, segregated them according to their brand names, repacked and sold them. He earned $3 per day by selling these golf balls. Even when he was struck by a mysterious disease and hospitalized, he spent his time thinking of numerous business plans to earn money. As a child, his favorite books included - 'One Thousand Ways to Make $1,000', 'Building a Business on Homemade Fudge' and 'Mrs. MacDougall Turned $38 into a Million.' In later years, commenting on his love for making money, Buffett said, "It's not that I want money. It's the fun of making money and watching it grow."6 Buffett was introduced to the world of stocks by his father who opened his own stock brokerage firm. Soon the 147

young Buffett started keenly observing the ups and downs of the stock market. In 1941, at the age of eleven, Buffett took his first plunge into the world of stocks. He purchased three shares of Cities Services for himself and three shares for his older sister Doris for $38 a share. Soon after he bought the shares, the stock price of Cities Services dropped to $27 and later rose again to $40. Immediately after the stock price reached $40, Buffett sold his shares. However, soon after Buffett sold the shares, the price of Cities Services' shares increased to $200. This experience taught Buffett his first stock market lesson - patience. When Buffett was 12 yrs old, his father was elected to the Congress and the family moved to Washington. However, young Buffett started feeling home sick and started complaining about his health. He wrote a letter to his grandfather telling him that he was unhappy at Washington. His grandfather suggested to Buffet's parents that the child be allowed to return to Omaha to complete his 8th grade. Buffett moved to Omaha, but soon after completing his 8th grade, he had to return to Washington again... Return of the Oracle (of Omaha) The year 2002 marked the return of Warren Buffett (Buffett) - popularly known as the 'Oracle of Omaha' for his unparalleled investing skills. However, the efficacy of his investment skills was questioned during the late 1990s. While the entire world was investing in technology stocks, Buffett stuck to his favorite old economy stocks. He refused to acknowledge the technology boom and declined to join the bandwagon. During the technology boom of the late 1990s, investors raked in fortunes by investing in technology stocks. Buffett's investment company however took a beating at the stock market. In 1999, Berkshire Hathaway3 stock underperformed Standard & Poor's 500 index by 20.5 points. Many Wall Street analysts felt that Buffett had lost his touch. They felt that by ignoring the technology boom Buffett was committing biggest blunder of his career. The dotcom bust in the early 2000s changed the experts' opinion of Buffett's investing skills. The dotcom bust resulted in huge losses for the stock markets and pushed many companies into bankruptcy. Commenting on the dotcom boom, Buffett said, "It was a mass hallucination, by far the biggest in my lifetime."4 By the end of 2001, with the stock markets once again rallying back on the old economy stocks, analysts started accepting the supremacy of Buffett's expertise in reading the markets. Commenting on his investment strategy, Buffett said that he concentrated on the companies and not on the Wall Street index. Fortune wrote in 2002, "More and more people seem to be expecting (or at least hoping) that he will step in and save them from their own past mistakes. Because he controls, through his company Berkshire Hathaway, one of the most liquid sources of capital on earth."5

Henry Ford - A Great Innovator

Background Note Ford was born on July 30, 1863 during the US Civil War in a farmland at Dearborn, near Detroit, Michigan. His mother passed away in March 1876. Later the same year, Ford got a job at the Michigan Car Company, but was sacked six days later for indicating a flaw in his foreman's work As a boy, Ford developed his interest in mechanics by taking watches apart to look at how they worked. He would take the watch apart and then make it work again by joining the components together. Describing Ford's nature, Brinkley said, "Like the automobile itself, Ford's mind was never stationary. He was antsy to the point of near insanity and always willing to roll the dice, taking calculated risks and dreaming of a better tomorrow."8 While still a school boy, Ford developed a steam turbine engine with a high number of revolutions per minute, which unfortunately burst and destroyed the school walls. 148

Ford had a tool kit at home, which included a screwdriver, designed from a knitting needle and a pair of pincers, shaped from a watch spring. He loved to 'tinker' with things and was nicknamed the 'Grand Tinkerer.' Ford dropped out of school at the age of 15. He had a strong aptitude for mechanics and engineering. He was keenly interested in learning how different things worked. Elucidating Ford's unique personality, James said, "Ford was a gregarious, wellliked youth, but not overly studious. He was a hands-on learner, always tinkering."9 In 1879, when Ford was 16, he ran away from home. He went to Detroit where he worked as a trainee in a machine shop called James Flower & Brothers (JF&B) to learn how machines were made... In December 1999, Ford was named the 'Automotive Entrepreneur of the Century' by the Car of the Century (COTC) International panel of journalists and historians for his invaluable contributions to the world and in particular to the field of automobile manufacturing. Dick Holzhaus, founder, COTC International (Netherlands), commented, "The twentieth century can, in retrospect, be regarded as the 'century of the car' - a revolution of technology and lifestyle. In this revolution, Ford Motor Company paved the way both as a manufacturer and as an industry leader. It was Henry Ford's vision to give people unprecedented mobility that changed the lives of millions throughout the world."6 These awards and recognitions were in recognition of Ford's invaluable contributions to the automobile industry. Ford was credited with enhancing the standards of living of people with his inventions like the quadricycle and the Ford Model T, and his use of the assembly-line production approach in the early 1900s... Ford had formulated a philosophy of three Ps - People, Products and Profit - for his company. Explaining the relationship between the three Ps, he said in 1916, "I don't believe we should make such an awful profit on our cars. A reasonable profit is right, but not too much. I hold that it is better to sell a large number of cars at a reasonably small profit..... I hold this because it enables a larger number of people to buy and enjoy the use of a car and because it gives a larger number of men employment at good wages. Those are the two aims I have in life."

Steve Jobs APPLE COMPUTERS

Born on February 24, 1955, Steve was the adopted son of Paul and Clara Jobs (based in Mountain View, California, US). As a child, Steve was a bundle of curiosity. A machinist by trade, Paul taught Steve the basics of electronics. This laid the foundation of Steve's deep affinity for the subject. In late 1950's Steve met Larry Lang who had recently moved into the neighborhood. Larry Lang was an engineer working with Hewlett Packard and also a ham radio operator.1 Steve learned a lot about electronics and other things from his new friend. By working with 'heathkits,'2 Steve learnt how electronic gadgets were built... A Charismatic Leader In September 1997, Steve Jobs (Steve) was appointed the 'interim CEO' of leading information technology (IT) company, Apple Computers (Apple), by the Apple board. Considering the fact that the company's board itself had ousted Steve in a coup in 1983, this development was watched with interest by media and industry observers. Steve's comeback was being seen as Apple's desperate attempt to survive one of its worst phases: losses for 1997 amounted to $ 1.6 billion. The company reportedly needed a charismatic leader who could steer it back to profitability and revive its fortunes. Those who had followed Steve's career graph over the decades were not too surprised at these developments. Known as the 'wonderkid' of the Silicon Valley, Steve was known for pulling off seemingly impossible feats. He was one of the few entrepreneurs who were reported to be 'as famous as a 1970s rock star'. All through the late1970's, Apple was always in the news. During that period, the Wall Street Journal focused on Steve/Apple and did not cover entrepreneurial ventures like Intel even though its cofounder, Bob Noyce, was the inventor of the silicon chip, which was at that time a 149

revolutionary product. Steve gave the world its first personal computer (PC), 'Apple' and reinvented the PC years later by creating the 'Macintosh'. He made a successful business out of creating PCs that were not only user friendly but were also aesthetically pleasing, unlike the 'dull' models available those days. Steve's research on the Macintosh resulted in the creation of the windows interface and the mouse technology, which went on to become standards in the software industry. Steve also established successful entrepreneurial ventures like 'Pixar Animation Studio' and 'Next'.

In 2000, the College of Journalism and Communications honored him with the 'Millennium Award' in recognition of his 'singular professional leadership, vision and creative achievement.' Steve was a celebrated leader for thousands of people who used Apple products. The story of how Steve built the Apple empire, how and why he was thrown out of it, how he created a few more successful businesses and the reasons behind his return to Apple is essentially the story of an entrepreneur and as a business leader...

Lijjat Papad - Woman & Entrepreneurship Background Note In March 1959, seven semi-literate women from Gujarat came together to supplement their family incomes and create a sustainable source of employment with the skill they knew - cooking. The seven women were Jaswantiben Jamnadas Popat, Parvatiben Ramdas Thodani, Ujamben Narandas Kundalia, Banuben. N. Tanna, Laguben Amritlar Gokani, Jayaben V. Vithalani, and one more lady whose name is not known. They started out on the terrace of a large, old, residential building called Lohana Niwas in Girgaum, a thickly populated area in south Mumbai. This is where the seven housewives, bored and confined to their homes, saw an opportunity to set up an organization 44 years ago. Entrepreneurship was something these women had never heard of. The venture was immensely successful and marked the genesis of a cooperative "for the women, by the women and of the women." In 1959, these women borrowed Rs 80 from Chaganlal Karamsi Parekh, a member of the Servants of India Society and a social worker. This debt had to be returned within a stipulated period of time. The women commenced business by selling papads to a merchant known to them. Gradually, they bought a cupboard to store raw materials and utensils on the terrace. In the first year, they had to stop production during the rainy season as the rains would prevent the drying of papads. To solve this problem, by the next rainy season, they bought a cot and a stove. The papads would be kept on the cot and the stove below so that the process of drying could take place in spite of the rains. Within three months, there were about 25 women making papads, and within six months, they were able to reward themselves with half a gram of gold each with the profit they had made. The group used considerable publicity through word-of-mouth publicity and articles in vernacular newspapers. By the second year of its formation, 100 to 150 women joined the group, and by the end of the third year more than 300 women were rolling papads. An Entrepreneurial Success Story In 2002, with a turnover of Rs 3 billion, exports worth Rs 100 million, 62 branches and 40 divisions all over the country, and 42000 members, the Sri Mahila Griha Udyog Lijjat Papad (SMGULP)1 was a women's entrepreneurial success story in India. From humble beginnings in a thickly populated locality of Mumbai in 1959, SMGULP has come a long way. The organization gained recognition through its most famous product- Lijjat papad. In addition to papads, 150

SMGULP manufactured other household products like spices, bakery products and detergents. A look at any of the branches of SMGULP gives the feel of an efficient entrepreneurial set up. The key to SMGULPs success lies in the feeling of oneness that it creates. Women above 18 years of age can become members of SMGULP by signing a pledge of devotion to the organization. At SMGULP, workers are referred to as co-owners and the women who work there are referred to as sisters. No kind of work is considered inferior or superior at SMGULP. Every job is given equal importance and the member sisters are free to choose the work they like, rolling papads, or packing, or preparing the dough. Payment is made on a daily basis. Quality is given utmost importance. The supervisors constantly check for the quality and weight of papads. SMGULP inculcates in its members, "a commitment to earn a legitimate income, honesty, and not snatching the fruits of another person's income" and adherence to quality.2 Stringent rules of cleanliness and purity are maintained. The whole manufacturing process is open to inspection by anybody. A well laid formula is strictly followed to obtain products of a fixed standard of taste, color and size. Over the years, SMGULP has won several awards. The organization was awarded for its outstanding contribution to the uplift and welfare of socially, economically and physically handicapped women. In 2002, The Economic Times Award for Women Entrepreneur of the year was awarded to Jyoti Naik, President, SMGULP.

Everyone enjoys 'rags to riches' stories and everyone likes tales of stupendous success achieved through sheer determination. The story of Shri Mahila Griha Udyog Lijjat Papad is all that and much more. Today, Lijjat is more than just a household name for 'papad' (India's most popular crispy bread). Started with a modest loan of Rs 80, the cooperative now has annual sales exceeding Rs 301 crore (Rs 3.1 billion). What's more stunning than its stupendous success is its striking simplicity. And perhaps that is the most interesting lesson managers can pick up from Shri Mahila Griha Udyog Lijjat Papad. Sticking to its core values for the past forty years, Lijjat has ensured that every process runs smoothly, members earn a comfortable profit, agents get their due share, consumers get the assurance of quality at a good price, and society benefits from its donations to various causes. How has all this been possible? Its story shows how an organisation can infuse Gandhian simplicity in all its activities. Here we look at its distribution cycle. Every morning a group of women goes to the Lijjat branch to knead dough, which is then collected by other women who roll it into papads. When these women come in to collect the dough, they also give in the previous day's production, which is tested for quality. 151

Yet another team packs the tested papads. Every member gets her share of vanai (rolling charge) every day for the work she does and this is possible only because the rest of the system is geared to support it. Jyoti Naik, President, Shri Mahila Griha Udyog Lijjat Papad explains how the system works.

The entire cycle starts with a simple recruitment process. Any woman who pledges to adopt the institution's values and who has respect for quality can become a member and co-owner of the organisation. In addition to that, those involved in the rolling of the papads also need to have a clean house and space to dry the papads they roll every day. Those who do not have this facility can take up any other responsibilities, like kneading dough or packaging or testing for quality. Packed papads are sealed into a box (each box holds 13.6 kg) and the production from each centre is transported to the depot for that area. Mumbai alone has sixteen branches and six depots. Each depot stocks production from the nearby three to four branches -roughly about 400 boxes. In some smaller towns or villages, the branch itself serves as the depot. The depots are our storage areas as well as pick up points for distributors. Our distributors pick up the quantity of papad they require and pay cash on delivery because we pay our bens (members are called bens, or sisters) every day. Since we have an estimate of the quantity each distributor takes, we produce accordingly. This ensures that we neither stock inventory nor pay heavily for storage. We have about 32 distributors in Mumbai. Each distributor picks up an average of 100 boxes per day from the depot. This is where our job ends. We are not involved in how and where a distributor delivers as long as he stays within the area we have marked for him. Generally each distributor has his three-wheeler and about eight to ten salesmen to deliver to retail outlets within his territory. To select a distributor, we first give an advertisement in newspapers for the areas we have marked. Members from our marketing division personally go and check the godown facilities and only on their approval do we appoint distributors. A distributor pays us Rs150,000 as deposit. We make it clear to them that they must pay on delivery if they want our distributorship. This system is followed all over India and it works well for us. When we discover that there is demand in a particular place, we open a new branch, like the recently opened one in Jammu and Kashmir. Whether or not we have a centre in an area, our goods reach there. For example, we do not have any centre in Goa, but we have appointed a distributor for that area to ensure that Lijjat papads reach Goa. Our communication with distributors is regular through monthly meetings where we discuss their problems and also the issues that we may have about quality, price, reach, etc. We do not have individual door-to-door salesmen or women selling from homes -- only the appointed distributor for the area. The same system is followed for other products, but we may have different distributors and depots for different products. Exports 152

Our exports alone account for Rs 10 crore (Rs 100 million). We are not directly involved in exporting, but recognised professional merchant exporters (who also export other food products) place an export order. Only on receiving the full advance through a cheque do we begin production. Because all exports are done from Mumbai, the supply also comes from here. Export production is of the same quality as daily production. In fact, we send some of the daily production for export. Again with exporters, our responsibility ends with delivery. They are, both, expected and encouraged to check the goods on collection. After that, where and how they export is their call. At present, 30 per cent to 35 per cent of the production of Lijjat Papad is being exported, mainly to countries like the United States, the United Kingdom, the Middle East, Singapore, Hong Kong and Holland. Distributing profits We have accountants in every branch and every centre to maintain daily accounts. Profit (or loss, if any) is shared among all the members of that branch. We have a committee of 21 that decides how the profits are to be distributed. We generally buy gold coins -- 5gm or 10 gm, depending on the profit. Everyone gets an equal share of profit, irrespective of who does what work, irrespective of seniority or responsibility. Even a ben who has recently joined gets the same share as others who have been with us longer. Each branch calculates its profit and divides it equally among all its members. Mumbai has 12,000 members, the rest of Maharashtra has 22,000, and Gujarat has between 5,000 and 7,000 members. Decentralisation In two words -- decentralisation works. We, at Lijjat, have never shied away from sharing power in all our activities. The Sarvodaya philosophy has always been our ideal. All sister members of the institution are the owners. As I mentioned earlier, all profit or loss is shared. Only we have the authority to decide the manner in which profit or loss should be apportioned among ourselves. The committee of 21 members manages the affairs of the institution. There are also Sanchalikas, or supervisors, for each centre to look after the daily affairs of a centre. But the work of the institution is such that each and every member can take any initiative or any decision. At the same time, each and every member has the veto power. All decisions, major or minor, are based on consensus among members. Any single member's objection can nullify a decision. Another important fact about the institution is that no male can become a member and no male employee whether working or honorary or on salary basis has voting rights. Other than following this philosophy for our institutional set up, we have try to avoid the usual 'management nightmares.' For instance, production is carried out not in one central location but in hundreds and thousands of individual homes. The branch system ensures that every activity happens within its own ambit. Testing for quality and packaging are done at every branch. 153

Imagine if all the production from all over India were to be gathered at one central office where it would be checked for quality, packed, transported to various depots and distributors, if collection were to be centralised and if distribution of vanai and profits too were centralised. Wouldn't it be a logistical nightmare? Our solution is simple. Let the branch be responsible for all activities from production to packaging to collection and distribution of vanai and profit for its particular geographical region. In following this simple system, we don't solve management problems, but avoid them. Certain activities, however, are centralised. For one, all raw materials are purchased in Mumbai and then distributed to the 62 branches to ensure consistent quality of Lijjat Papad. Given the vastness of India, every region produces different quality of urad, rice, spices, et cetera. If procured locally, the final product would never be consistent in quality and Lijjat would have no USP (unique selling proposition) in the market. The other centralised process is the grinding of flour. We own two grinding mills, one in Vashi (Navi Mumbai) and one in Nashik (in Maharashtra). Since the raw material is purchased in Mumbai, grinding the flour at our own mills helps reduce costs. Pricing of the products is also done at the head office. Lijjat papads all over India cost Rs 16.25 a kg. This price factors in the cost of raw materials, transport, taxes, distributors commission, profit percentage and so on. Driven by values Every member who joins in pledges, ". . . we will make all-round effort to ensure that the bens get real fruit of their labour and we will not allow to happen any type of economic loss to the Institution knowingly, unknowingly, directly or indirectly. We are aware that it is one of the very important traditions of our Institution that neither sister-member nor employees take away wrongfully any money or material from the Institution. Those who take away money or materials wrongfully from the Institution are either beggars receiving alms from the bens or thugs and robbers extricating bread from a sister's mouth." Among others, the chief value that holds the institution firmly is a sense of self-dignity and respect. We discourage any kind of class distinction and do not declare ourselves as an organisation for poor or needy women. Our thinking is straight. Ours is a business like any other even if the structure is different. There is no place for feelings of pity, sympathy or charity among members. We also do not accept donation or charity of any kind, even if voluntarily offered. I do believe that this has helped the organisation retain independence and brought quick growth. It has given us a clear vision of the path of progress. Maintaining proper accounts has always been on our agenda. When we started out, Chhagan Bapa, our mentor had advised us to maintain accounts daily. Even today, every branch closes the account book every day. We do not want to get into monetary hassles because of badly managed accounts. There is no place for prejudice on the basis of caste or religion, and democracy in its truest form is encouraged. Following these values ensures that we are run and perceived as a serious business, not a charity organisation. Shared destiny This cooperative organisation was started by seven women on a terrace of a building in Girgaum in Mumbai. Although only one of those seven survives today, the organisation has not given up on the ideals they started with. 154

Every member at Lijjat works with a sense of pride in her work. And this pride comes not only from the fact that we produce a good quality product but also because we have stuck to our core values. That, in turn has led to a sense of shared destiny in our institution. Every woman earns according to the labour she puts in but the profits we make as a collective effort are shared equally. In spirit, we are a nation unto ourselves, almost like a mini-India. We share the same values, are a democratic set up and, like India, have members from every community, every religion, every language within our fold. We work together and dream together for a better tomorrow. Valuing people Our beginnings were modest. Seven women with no special skills but a strong determination to earn dignity as individuals went ahead to make a successful business, doing what they knew best -- rolling papads. They leveraged their basic skill and turned it into a weapon because they believed in themselves and in each other. And that's how we function even today. We believe in each other, in each other's ability and commitment to take the institution towards progress. It is this belief that has been the basis of our business model as well. We understand the family, time and social pressures women face every day. What we have done is simply to turn these into an advantage and not an excuse. It serves everyone. Lijjat helps these women who are not encouraged to work outside their homes, to contribute to the family income. Our bens take dough home and roll them into papads when they are free from their domestic chores. At the same time it is not prudent for the organisation to invest in office property for so many members. The perfect fit for both is using the members' homes for the rolling and drying of papads. No additional overhead costs, no investment either. Valuing people and under-standing their problems has created for Lijjat a sound and sustainable business model. However, though it would make business sense to adopt modern technology for mass production or use machines for packaging, etc, we haven't done so because it would defeat the very purpose of our existence, which is to provide a source of livelihood and dignity to women through self-employment. In addition, we have one vehicle per branch, which, at fixed times, brings the bens and rolled papads to the branch and also drops them back. This is done for all the bens -- those who mix the dough, do the vanai (rolling), testing, packaging, etc. Delivering quality We proudly claim 'consistently good quality' to be our USP. From the moment a new member joins, she is repeatedly told to make quality her mantra. At the training session, bens are taught to make the 'perfect' Lijjat papad. And every member has absorbed the concept totally. It is evident in the fact that even without modern machines, every consumer of Lijjat papad, wherever she is, gets the same consistent quality of papad. How? Because every ben rolls the papad to the same specification and every lot of papad goes through testing.

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If we find any ben becoming careless about quality, we do not tolerate it. We give her a warning, then the option to take up any other work like packaging, testing, etc. and if she still displays a lack of concern for quality, we ask her to leave the organisation. Out of one kg dough, we must get at least 800 gm (accounting for loss due to moisture, etc), otherwise we cut pay. We get papads for testing from all centres everyday and if we find any deviation from our quality, for example, if the salt is less or more, etc, we immediately intimate that particular centre to destroy the entire lot, even if amounts to a million rupees worth of production. Out of this strong belief in quality delivered at an affordable price comes our act of ignoring competitors. Lots of companies selling papads have come and gone. We don't consider them, we only do our own thing. We do not take into consideration what the competition is doing. We know that if our quality is good, consumers will buy. Our quality does not differ whether it is for exports or for the local market. There is just one quality. And that's good quality. Again and again and again!

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Ekta Kapoor BALAJI TELEFILMS Ekta Kapoor is the daughter of Ravinder Kapoor (popularly known as Jeetendra), a Hindi movie star from the 1960s to 1980s. Her mother, Shobha Kapoor, is the CEO of BTL and her younger brother Tushar Kapoor is an actor in Hindi movies. According to Ekta, she had a childhood which was "materially easy but emotionally difficult.' During her childhood she was extremely obese and suffered from low self esteem. She was a very pampered child and was never oriented towards any kind of achievement. A student of Bombay Scottish school and Mithibai College, Ekta was a poor student and content with getting the minimum passing grades. Her family wanted her to enroll in an MBA program but she was not interested in a theoretical education and had no clue about what she wanted to do in her life. "I was fat, lazy and absolutely aimless in life. I had no direction or focus. I did not believe in excellence or hardwork,"7 she said. Her only interest was watching television, which she did whenever she could. She says she felt guilty about disappointing her parents, but was not able to do much to rectify the situation. On completing her higher secondary education, she joined FAR Productions, an advertising agency, and worked as an assistant model coordinator for a short time in an attempt to do something worthwhile. The turning point in Ekta's life came in the early 1990s (she was about 19 years old then), when Ketan Sommaya (a non resident Indian) requested her father to produce some television software, for a channel he was starting... From a modest beginning of 8.5 programming hours per week in 2000, BTL achieved about 35 programming hours per week across all channels in 2002. Most of the achievements of BTL could be traced back to Ekta, the creative director at BTL. In 2001, Ekta was selected by the Confederation of Indian Industries, (CII) to head the 157

committee on entertainment. She also received a number of awards over the years. Some of the awards are: "Ernst and Young Entrepreneur of the Year" (in 2001), "Corporate Excellence" from Bharat Petroleum (in 2002), "Rajiv Gandhi Award" (in 2002). In 2001, Asiaweek magazine included her in the list of "Asia's 50 most Powerful Communicators." Kahani Teri Meri, (The Story of You and Me) Ekta Kapoors (Ekta) latest offering was aired in January 2003 on Sony Entertainment Television at 9:30 pm. It was touted as the Devdas1 of the small screen and said to be "much larger and far more lavish than any serial currently airing on television." The serial replaced another production of Balaji Telefilms Limited (BTL), Kutumb (Family), in the same time slot. But despite the grandeur of the sets and the added advantage of being Ekta Kapoors pet project, the serial was not able to make a mark. Even after 3 months on air in a prime time slot, the television rating points (TRPs) were lower than expected, leaving analysts wondering whether the Ekta magic was on the wane. Ekta, the face and brain of BTL, was almost completely responsible for the position BTL was able to achieve in the television software market. The program listings on various channels in 2002 show the hold BTL had on television viewers. Her serials aired on channels like Star Plus,2 Zee TV,3 Sony Entertainment Television (SET),4 Doordarshan and Metro TV,5 as well as regional channels6 like Gemini, Sun, Vijaya TV, Udaya TV, etc. BTL grew rapidly since 1994, when it first began operations. The rate of growth increased after the company went in for a public issue in 2000. Bill Gates - MICROSOFT Gates was born in Seattle, Washington, US, on October 28, 1955. His father, William Henry Gates (II) Jr., was a lawyer while his mother, Mary Gates, was a school teacher. At a very young age, Gates exhibited a lot of intelligence and zeal. At the primary school itself, he excelled in Maths and Science. Since his childhood, he was fond of reading business magazines like Fortune. Noticing his precocity, his parents enrolled him in Lakeside Preparatory School (LPS)8 in seventh grade at the age of 12. At LPS, Gates saw a computer for the first time in his life... Gates, along with his friend, Paul Allen (Allen), used to spend hours in front of the computer. Sometimes he spent the whole day in the computer room reading computer books and magazines and developing computer programs. Gates was so obsessed with the computer that he often missed his classes and never did his homework on time. In late 1968, Gates and Allen, along with two other schoolmates, formed a group called the 'Lakeside Programmers Group' (LPG). Gates and Allen always dreamed of solving practical problems through the use of computers...

With a market capitalization of US$ 260 billion on May 23, 2003, Microsoft had emerged as the global computer software leader and the world's most valuable company. Gates, the erstwhile CEO5 of Microsoft, was also the world's wealthiest individual. Microsoft dominated the global PC software market. According to analysts, Gates had played a pivotal role in Microsoft's success. He had made major contributions to strengthen the product development, human resources and marketing efforts of the company. Appreciating Gates leadership, James Collins, co-author of the book - Built to Last: Successful Habits of Visionary Companies, said, "To my mind, Microsoft has never been a company. It's a single remarkable individual, Gates, with thousands of the smartest, best-paid people anywhere helping 158

that individual. It's basically like a big wheel, with Gates at the hub."

Vishwanath 'Vishy' Shenoy

Did you know that there are over 26 varieties of biryani made in India? Or that biryani comes from the Persian word 'birian' which means 'fried before cooking'? Or that, though it is considered a royal dish of the Nizams and the Nawabs it was never ever served to the royal guests? Thirty-six-year-old Vishwanath 'Vishy' Shenoy has trivia like this and the history of the biryani on his lips. He also has a restaurant dedicated to his passion: The Biryani Merchant, which he hopes to develop into a national chain. About a month ago, the first restaurant was launched at Castle Street in Bangalore. "Chennai is too conservative while Hyderabad places too much of premium on its knowing all about biryanis. Delhi isn't too hot on rice, while in Mumbai real estate is very expensive. Bangalore, with its cosmopolitan outlook, seemed the best place to do a proof of concept," says Vishy Shenoy, CEO, Epicurean Entrepreneurs Private Limited, the company that runs the restaurant. Biryani Merchant is jointly owned by Vishy Shenoy, who gave up an career as head of sales and marketing in one of Sri Lanka's biggest industrial groups; Abhik Biswas, a technology professional with Cisco; and Ramesh Sivaram, a professional with specialisation in processed foods. Claiming to offer the 'Quintessential Biryani Experience', Biryani Merchant has a range of biryanis that come complete with appetizers, accompaniments, desserts and a special Sulaimani Chai. "Biryani Merchant is a showcase for biryani, a dish that has been abused like no other. The effort here is to apprise the guest of the origin, evolution and the history of the different varieties of biryani. Hygienically prepared and served with traditional accompaniments and desserts is what Biryani Merchant is all about," says Shenoy. For the uninitiated, Shenoy offers a peek into the history of the biryani. 159

Biryani is believed to have been brought to India by Taimur Lang, or Taimur, the lame. One branch of the biryani comes from the Mughals, who got the dish from Persia and subsequently during their reign in India, the biryani entrenched itself in places like Lucknow, Hyderabad, et cetera. The other branch of biryani is supposed to have crossed the Arabian Sea and come to Calicut, brought in by the Arab traders. The Calicut Biryani is served with vinegar pickles and papads fried in coconut oil, is a softer variety and light on the stomach has no relation in terms of taste to the other biryanis in the country. Almost every community today has its own version of the biryani. In the northwest is the Memoni Biryani (people who inhabited the area between Sindh Gujarat and Pakistan) is an extremely spicy biryani, while the Sindhi Mutton Biryani is distinctly different. There is also the Turkish Pilaf and the Iranian Biryani. The Bohris have their version of biryani that is normally cooked for their weddings and is flavoured with a lot of tomatoes. The Kashmiri Bhuna Ghost Biryani and the Kashmiri Katche Ghost ki Biryani is the benevolence of the Mughal rulers to the northern-most state of India. The Lucknow (Awadhi) Biryani is the footprint the Moghuls left on the eastern part of India. From Lucknow the biryani moved to Calcutta when, in 1856, Nawab Wajid Ali Shah was deposed by the British. His team of cooks moved with him and so did the biryani. In Kolkata the biryani entered poorer homes, which could not afford meat everyday, so the meat was replaced by potatoes. Aurangzeb is believed to have invaded the South and installed the Nizam-ul-mulk who later as the Asfa Jahi ruler became the Nizam of Hyderabad. That explains the movement of the Biryani down south, says Shenoy. From the Nizam's kitchen originated the Hyderabadi Biryani and the delicacies that go with it like the Mirchi ka Salan, Dhanshak and Baghare Baingan. It is not difficult to imagine that the repertoire included 26 types because the Hyderabadi Biryani itself is made in different styles -- Katchi Biryani, where the meat is marinated in curd and then steamed with rice, and the Pakki Biryani, where the meat is cooked with all the accompanying spices and then the rice is simmered with the resultant gravy redolent of mace, ittar and kewra in a sealed handi with saffron and cardamom. The Vegetable Biryani is the 'tarkari' version, which was originally made for the cashiers and financiers of the Nawabs, who were Mahajan Hindus. The Hyderabadi version of the mixed Vegetable Biryani is the Tahiri. Marriages between the families of the Nizams of Hyderabad and the Nawab of Arcot explains the journey of the biryani into what is called Arcot Biryani, another distinct type of biryani, which is made with smaller grains of rice. Naturally, many of these are on the menu at Biryani Merchant. But that itself is a contradiction, for there is no formal menu at the Biryani Merchant restaurant. Instead, customers are asked if they are vegetarian or non-vegetarian. For Rs 300, a full meal is then presented to the customer. The fare starts with Gazak (Kebabs) followed by three special biryanis each for vegetarians and non-vegetarians . That acts as a sample menu. Once past it, the eaters can have as much as they want of a particular biryani or if they can stomach it, all the three. All the biryanis come with accompaniments. 160

There is also a desert and Sulaimani Chai, a fragrant black spiced tea to round off the meal with. Biryani Merchant plans to open around 12 outlets over the next three years. Each outlet requires an investment of Rs 30 lakh (Rs 3 million) and Shenoy says they are looking at franchisee possibilities to expand. After Bangalore, Pune would be the next stop for the Biryani Merchant in around September. By April 2005, Shenoy and his team hope to have three more restaurants in Mumbai, Delhi and in the United States. "We have shortlisted the Gulf and European countries, considering the Indian populace and the travelling Indian population there and their craving for authentic Indian food. We already have enquiries and have initiated discussions with business associates in a couple of these cities," says Shenoy. Along the way, Shenoy also hopes to clear some popular misconceptions about biryani. "Biryani is always dum cooked. The rice is fried separately and parboiled while the meat or the vegetables are marinated separately. They two are then layered and cooked under a dum (an earthen cooking pot)," he says. Being in Bangalore, it is inevitable, that information technology should play some role in the enterprise. In this case, Biryani Merchant offers 'wireless Internet connectivity' -- or Wi-Fi -- for customers who want to stay connected or do a spot of surfing even as they eat. And what's the test of a good biryani? "Take a palm-full of the biryani and sprinkle it on the floor. If all the grains remain separate, then you have a good biryani. It means that the rice has been fried just right to ensure it doesn't stick. And, the biryani should not be too spicy. It should be fragrant," says Shenoy. However, sprinkling it on the floor is certainly not a test that Shenoy is recommending to his customers.

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K Raghavendra Rao
The Chennai-based pharmaceuticals major, Orchid Chemicals & Pharmaceuticals Ltd, is the youngest pharma firm in India to bag the ISO 9001:2000 certification. With exports spanning more than 75 countries, it is the largest manufacturer-exporter of cephalosporin bulk actives in India and is ranked amongst the top 5 cephalosporin-producers globally. Orchid is a first-generation enterprise founded in 1992 by K Raghavendra Rao, who is also the firm's managing director. After passing out from the Indian Institute of Management-Ahmedabad in 1977 at the age of just 19, K Raghavendra Rao had no plans to be an entrepreneur. He joined Kwality Ice Creams in Mumbai, and within 18 months, he converted one of its manufacturing units in Ahmedabad into a profitable venture. Soon, he found he would not be able to go beyond a certain level in a small company, and joined Ashok Leyland in Chennai. But in no time, he found it too big for his liking. The next move was to a medium size company 'which is in the growth phase,' to grow with it. He joined Standard Organics in Hyderabad and that was his first exposure to pharmaceuticals. He joined the company at the age of 25 as a project manager and soon became its vice president, operations. He, along with his team, put up a bulk drug manufacturing plant, a formulation plant and medical diagnostic centres. "That was during 1986-87. That was where my entrepreneurship blossomed. I felt if I could lead a team to make things happen from scratch for other people and other companies, why should not I start something on my own?" Rao remembers. To realise his dream, he had to have capital. So he went to Oman, and "sold his services for a better capital." His plan was to make some capital, come back to India and start a project. He helped the Oman company diversify into pharmaceuticals, steel and readymade garments. The company whose revenue was less than $2 million rose to $80 million in just four years. In 1993, with 'some' capital, and lots of experience and confidence, Rao came back to India and started Orchid Chemicals and Pharmaceuticals in Chennai. "I chose pharma because I thought, as long as people are there, some medicine or the other will be required. Secondly, I felt the versatility of pharma manufacturing enterprise is far greater. It has many-to-one and one-tomany correspondences, which means, with the same centrifuges, reactors and dryers, with their supporting systems in engineering and refrigeration, just by changing the parameters, you can do many different products. These are the two reasons that made me decide the field of operation." The next major decision Rao took was to make Orchid a 100 per cent export oriented company. 162

"It was primarily because he wanted the culture in the company at the operating level to be for 'one globe, one market, only one way of doing things and only one quality platform' on which the company has to be built." "It was more of a cultural and attitudinal issue. We saw the international market as our market place and made use of the advantage of low cost production in India." So, in Rao's opinion, the decision to create an export oriented company had only advantages and no disadvantages. Initially, Rao chose to manufacture bulk drugs and decided to export to four countries in the neighbourhood, including China. The company started off with a capital of Rs 12 crore (Rs 120 million), planning to achieve sales of Rs 28 crore (Rs 280 million), Rs 32 crore (Rs 320 million) and Rs 37 crore (Rs 370 million), respectively in the first three years. What they achieved was far in excess of their own estimates, with sales ringing in at Rs 43 crore (Rs 430 million), Rs 121 crore (Rs 1,210 million) and Rs 192 crore (Rs 1,920 million), respectively. Now after ten years, Orchid's annual sales are at Rs 542 crore (Rs 5,420 million). The company projects a turnover of Rs 1,000 crore (Rs 10 billon) by 2005. From exporting to just four countries, Orchid has spread its presence into more than 70 countries. Having started with just one product -- cephalosporin -- Orchid now has 20 products to its credit. From five employees, the workforce has grown to more than a 1,000. All in a short span of just 10 years. "We achieved it because Orchid is a quality company. Go to the market and ask what's Orchid known for. They won't say, if you want a very cheap product, at a very competitive price, go to them. They will say: 'It's a good antibiotic company. It's a company specialised in cephalosporin.' We have quite a large range to offer now. It's a high quality producer." Rao has every reason to be proud of his company. The shift from manufacturing bulk drugs to developing their own drugs and formulations did not happen all of a sudden. Rao knew there would be a long gestation period if they started basic research or tried to access a regulated market from day one of the company's inception. "We knew all along that research is as important for a pharma company but being a first generation company, we had to do things in a step by step manner." So, Rao decided to plunge into research only from the year 2000. At the same time, Orchid decided to go to the regulated market with the same bulk drugs they manufactured. The company presented a five-year plan to Schroeder and IFC, Washington. By 2001 and 2002, the entire infrastructure was implemented. By 2003, they started seeing some results. As far as research is concerned, Orchid has decided to specialise in three therapeutic areas: infection, inflammation and diabetes. The two in-house research projects that are going on at the Orchid laboratories are on oxyzolidinone and cox-2 inhibitor molecules. Oxyzolidinone, considered better than cephalosporin, is the latest in antibiotics. 163

"Any infection is accompanied with inflammation. Pain and inflammation go together. So, we decided to do some research in that area too, and come up with our own molecule. There's no cox-2 inhibitor in the world as of today, which is orally active, which reduces inflammation. We feel we can find a molecule." Rao is confident of success. As far as the diabetes molecule is concerned, Orchid has entered into a research joint venture with Bexel Pharmaceuticals Inc in the United States and the research project is going on in the US laboratories. "They had the molecule and were looking for pre clinical back up, and also financial support. We have all that, and we also want to get into the high growth areas." Now, Orchid has three molecules. The in-house drugs, oxyzolidionone and an anti-inflammatory molecule will be taken up for Phase-1 trials in Europe, and eventually to the US by 2005. But the anti-diabetic drug is already in Phase-1 trials in Europe, and will complete the trials in April 2004. The objective of the company is to complete Phase-2 trials, establish proof of its working in an affected human being and then licence it by the end of this year. After that, Rao wants to move further in the same area. For example, diabetes is leading to obesity, as most of the drugs are fat inducing drugs. So, Orchid wants to come up with an anti-obesity molecule. He also has plans to formulate the bulk drugs and sell the products in dosage form. It is for this purpose that Orchid has built a dosage form plant near Chennai. The dosage form will be finally marketed in the US. Rao is quite sure about not going to unrelated diversification. Orchid has joint ventures with a few Chinese companies for manufacturing and marketing of their drugs. On the other hand, collaboration with US companies is for purposes of research. "The reason why we chose US companies for collaboration in research is because they are already into it whereas on the manufacturing side, China is a large market. But the US market constitutes more than half of the revenue of the pharma business -- $420 billion. So, any pharma company worth its salt must be in the US, and India has a big role to play in the US." Analysing the performance of his company that started just 10 years ago with just Rs 12 crore, Rao cited three reasons for its brilliant success. "One is the choice of product range and focus. Second is the rapid way we have added products. Third, we knew what was in our control, and what was not. What is in our control is, we can add products, we can add markets, etc but what we cannot control is competition and market price. Last but not the least, the quality of the people we have, right from the beginning, has made a big difference in the company." Though he says decisions are taken collectively by the top management team, Rao admits that the buck finally stops at his desk. Any future plans? "Our objective is to encash on the infrastructure that we have created on the knowledge side, the physical-asset side and on the documentation-and-registration side. We have to convert all that to value in future. That is our goal for the next two to three years." The strength of Indian pharmaceutical industry, according to Rao, lies in the areas of chemistry, manufacturing, and regulatory compliance. The maximum number of US-approved plants outside the US is in India. 164

"I would say the pharma sector will do better than information technology. The reason for this belief is not because we are in pharma, but because there is a fundamental difference between how IT operates out of India and how pharma operates out of India. It is services versus products," says Rao. "As long as you come up the value chain in terms of products, the rate of growth and the actual delivery that you do is much more valuable and non-replicable compared to a service you can provide. It is going to take time but it is going to pay in a much more handsome manner than IT," he says.

Upasna Sarin- FINESSE SHOE STORE, DELHI.

Upasna Sarin, the 34-year-old owner of Finesse, a shoe store in Delhi's Greater Kailash, says that she is a perfectionist. She claims it is her eye for detail and the desire to be the best that has helped Finesse record a turnover of Rs 3 crore (Rs 30 million), which is likely to go up to Rs 5 crore (Rs 50 million) next fiscal. In 1991, after graduating from Jesus and Mary College, Delhi, Sarin and a friend bought bags worth Rs 10,000 from Mumbai and sold them in Delhi. That's how Finesse was born. Today, there are two Finesse stores in Delhi and Sarin plans to have four more in the next five years. "I have always been very passionate about financial independence. Even when I was in school I used to do summer jobs to earn pocket money. But more than that, I'm a person who likes to live life on her own terms. "After graduation I looked around for jobs and was offered one as a saleswoman for washing machines and another one to market credit cards. But I knew I couldn't really work for someone else. "In 1991, a friend of mine and I went to Bombay where we bought bags worth Rs 10,000. We then sold them in Delhi for a profit. That was the beginning and I've never really looked back. "By the end of 1991, I had set up Finesse in a small garage. I bought bags and hair accessories from Bombay and sold them in Delhi. I then moved on to a 4ft x 8ft store in M Block market, Greater Kailash, where besides the bags I started selling salwar suits. "These I bought on consignment from an aunt of mine. However, my creative urge was not being satisfied as I was selling readymade stuff. So, by the mid-'90s I stopped selling salwar suits. "I was selling shoes during this period but they were in small numbers. I decided to concentrate full time on shoes and bags. I was also in expansion mode and by this time I had two small stores in M Block market. "Initially I was duped by manufacturers as I was new to the game. Often I was sold defective pieces but I soon learnt from my mistakes. "Today I deal with eight manufacturers who are based in Delhi, Mumbai and Punjab. I design all the shoes myself and 50 per cent of the bags are my designs. I've developed an emotional rapport with the manufacturers by ensuring that they receive payments on time and they get steady orders. "This works to my benefit as I am assured that they will not copy my designs and sell them to someone else. Nearly 20 per cent of my stock is imported. I buy from Thailand and China and source jootis from Pakistan. "In 2000, I moved to a 2,000 sq ft store in M Block market and gave up the other two smaller stores that I was using. By 2002, another store was opened in Khan Market.

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"In the next five years, I'm looking at opening four more stores -- one in Delhi and three outside Delhi. I'm looking at cities like Chandigarh and Kolkata. "This is because the tastes of women in these cities is similar to that of Delhi women and so I can cater to all the stores without making drastic changes in design. If on the other hand, I was to open a store in Bangalore or Chennai, I'd have to introduce a whole new change. "Over the last decade, the Delhi woman has become very gutsy as far as shoes are concerned. She is willing to experiment with styles and designs. "Even the workmanship in Delhi has improved. While earlier I bought most of the shoes from Bombay, now nearly 40 per cent is sourced from Delhi. "What makes Finesse different from other shoe stores is that we get the comfort and styling ratio right. Our focus is 60 per cent on comfort and 40 percent on styling. If you reverse the ratio, sales will fall. "I feel the shoe business is like the doctor's profession. If you trust a doctor, you go to him again and again. "Similarly, if you buy shoes from one place and you are happy with the styling, comfort, quality and design, you will go there again and again.

Sanjay Jain- Bharat Export Corporation

When Sanjay Jain started his company Bharat Export Corporation -- for trading in herbs and essential oils -- in 1993, he had a staff of two people and one room to work out of. Today his SVIL Group is the country's largest manufacturer of sandalwood oil, with a turnover of Rs 300 crore (Rs 3 billion) and a growth of over 50 per cent projected for the coming year. Jain's future plans for his company include growing sandalwood trees on its own land and providing consumers education on the benefits of the oil. "My father was a financial consultant, an avowedly self-made man. As a youngster, he was kicked out of the house by my grandfather because he wanted to pursue further studies rather than join the family trade; my grandfather's job was delivering ghee from house to house on his cycle, but my father had greater ambitions for himself. His attitude has served as an inspiration for me too. "Anyway, my father completed his graduation in cost accountancy, did his MBA from Delhi University, and then got married and settled down here. My two brothers and I were born in Delhi. "Growing up, my early interests were playing billiards and cricket but I had to think in more practical terms. I did mechanical engineering at the University of Rourkee (later IIT Rourkee), where I stood third (my brother came first). And in 1987 I did my MBA from IIM Ahmedabad. "After some months spent working with the Bureau of Industrial Costs and Practices (BICP), I got into the business of herbs. We would procure herbs from Himachal Pradesh and Nepal, and sell them here in Delhi. "In 1993 I started my first company, Bharat Export Corporation -- a trading company for herbs and essential oils -- with Rs 7.5 lakh (Rs 750,000) borrowed from my father. 166

"I earned my "first million" a few months later, when I got an order for 100 tonnes of chiraita -- a blood purifier -from Zandu Pharmaceuticals. We procured it from Nepal at Rs 60 per kg and sold it at Rs 100 per kg. The result was my first profit of Rs 10 lakh-plus! "Soon after this, I floated a manufacturing unit to make perfumery compounds. And in 1997 SVIL (Surya Vinakar India Ltd) came into being -- this was India's first sandalwood oil manufacturing unit in the organised sector. "Our main aim was to supply high-quality sandalwood oil and we were among the first to set up a laboratory -- in Wazirpur Industrial Area -- to test sandalwood oil. Our products are now exported to all major countries in Europe and the Asia Pacific. "We manufacture perfumery compounds and essences but our main product is sandalwood oil. I think people need to be educated about the anti-bacterial and anti-fungal properties of this oil."To this end, I am planning to open a training school which will provide necessary information on the benefits of using sandalwood. "This May, we will start growing our own sandalwood trees on 20 acres of land we have kept for the purpose in Sampla, Haryana. The aim is to eventually be self-dependant, so we do not have to procure sandalwood from other sources. "It will take some time because oil can be obtained from the trees only 15 years after they are planted, but this is still a big step forward for us. "We have also initiated numerous community development programmes aimed at the betterment of society. I am the president of the Shankaracharya Trust and have opened a charitable hospital in association with them, in Rudraprayag. We also have a surgical camp in Alwar and a polio camp in Mehrauli. The money comes from SVIL's profits. "I started in 1993 with just a courier boy and a steno-typist, who worked in the same room as I did, on the first floor of my residence. "Today we have a staff strength of around 300, five manufacturing facilities and a turnover of Rs 300 crore, which should cross Rs 500 crore (Rs 5 billion) next year. I think I can pride myself on being a self-made man, like my father."

Exactly a century ago, Jamshetji Nusserwanji Tata's dream was concretised when the Taj Group's first hotel, The Taj Mahal Palace & Tower, Mumbai, was opened on December 16, 1903. It is said to have cost 500,000 -- or Rs 2.5 million -- then. 167

Legend has it that it was not a very enjoyable experience that made Tata foray into the hotels arena. Somewhere towards the end of the 19th century, Tata is said to have taken a foreigner to a dinner in a hotel, only to be stopped at the entrance by the doorman. The reason? Only Europeans were allowed in, not Indians. That rebuff was enough to make Jamshetji decide to build a grand hotel in India that would be a matter of pride and awe the world over. Legend has it that scores of people gathered for the opening ceremony; some as invitees and others as curious onlookers to see the majestic, illuminated edifice that has since been a symbol of India's hospitality across the globe. The hotel stood overlooking the Arabian Sea. Eight years later, the hotel got another magnificent monument to keep it company when the Gateway of India was built to commemorate the visit of King George V to India in 1911 in front of the Taj. When it began, the hotel had only 30 suites and four electric elevators. It had just 17 guests when it opened, but since then it has played host to Pope John Paul, Queen Elizabeth, former US President Bill Clinton, the Aga Khan, Shah of Iran, George Bernard Shaw, Sir Richard Attenborough, and former member of The Beatles Paul McCartney, among other global celebrities. 'Second to none, east of the Suez' "The imposing structure, with a large central dome and two wings crowned with smaller domes, stands on a foundation that is 40 feet deep," writes T Damu, vice-president, Indian Hotels Company, about the hotel on the company Web site. "It cost Tata a staggering Rs 25 lakh (Rs 2.5 million) to construct the princely marvel. His intention was that the hotel should be 'second to none, east of the Suez.' It had all the facilities one could imagine - and many one couldn't - for a hotel of its time: power laundry, electric irons, Turkish baths, a chemist's shop, post-office, and more." "Tata had toured many countries in Europe with the expansive plan for the hotel meticulously sketched in his mind. He visited London, Berlin, Paris and other cities to make many of the purchases, while his sons, Dorab and Ratan, put their hearts and heads into ensuring that the hotel's interiors were moulded according to their father's desire," writes Damu. "Thus the premium hotel grew in stature and grandeur. By 1906, the Indian Hotels Company, the Taj's proud owners, had a capital worth Rs 30 lakh." "The Taj holds the distinction for achieving many firsts, among them India's first air-conditioned restaurant and ballroom and Mumbai's first licensed bar, the Harbour Bar, both built in 1933." "Further expansion of the hotel started in 1968, when a new tower, designed by Rustam Patell, was added to the heritage wing," writes Damu on the company Web site. "The hotel has been continuously evolving ever since its birth, adding new facilities and expanding its physical properties. It's a member of 'the Leading Hotels of the World', and it has 582 rooms, including 49 spacious suites uniquely decorated with original artefacts and antiques," writes Damu. Global acclaim and expansion 168

The Taj Group of Hotels has established itself across India, in important industrial cities, beautiful beach resorts, hill stations, places of pilgrimage and historical significance, and even wildlife destinations. The Taj Group has won global praise for its quality hotels, its excellence in business facilities, services, cuisine and interiors. "The Taj Group's operations cover over 60 hotels in India and abroad, and encompass a number of brands across various price segments," says the company Web site. 'The symbol of India's warmth and hospitality' On the occasion of the completion of 100 years of the Taj hotel, Tata Group Chairman Ratan Tata said that the hotel will continue as the symbol of India's hospitality and warmth. Speaking at a prayer ceremony marking the centenary of the Taj, Tata said the hotel had drawn up plans that provided immense possibilities of growth. The Taj Group also announced 100 centenary scholarships for underprivileged children in Mumbai and said all the Taj hotels would plant 100 saplings to mark the event. Ratan Tata said the Taj Group, which set the standards in the hospitality industry a century ago, will keep offering the best service to all. Managing Director of the Indian Hotels Company Raymond Bickson said the company had plans to expand into China, West Asia, North America and Australia. He said the group welcomed international competition and would attract India's best and brightest talent and select international staff. Strengthening the brand In a bid to grab the larger market share in the hospitality industry and strengthen its brand, the Taj Group of Hotels has launched a major upgradation programme of its business hotels both in India and overseas, to be completed in three phases. "The first phase of upgradation is already complete. Banquet halls have been renovated at Taj Residency in Bangalore and Taj President in Mumbai. This will be followed by opening of 65 rooms at Taj Connemara in Chennai next month," Jyoti Narang, chief operating officer of the business hotels arm of Taj Hotels, said. The group has invested over Rs 30 crore (Rs 300 million) in the first phase of upgradation, Narang said. The next phase will be completed by September 2004 and will include renovation of banquets at the Taj hotels in Chennai and Pune. Work on the Hyderabad hotel too will begin then, said Narang. The group is likely to open its recently acquired property from India Tourism Development Corporation in Chandigarh soon. The company has named it Taj Residency. Narang, however, declined to give details on investments in the next two phases. As part of room renovations, the group has introduced facilities to de-stress and entertainment besides deciding to over deliver on food. Asked about increase in costs, Narang said there would be marginal increase in costs. 169

The company has a dominant position in most areas it is present in. Providing world-class personalised service to guests, while authentically reproducing the traditions and heritage of India, has made the 'Taj' brand a symbol of luxury and service the world over. The Taj Group of Hotels is grouped into strategic business units to standardise the brands, making them distinct and identifiable. These brands have been classified as luxury, business and leisure. Taj luxury hotels: The Taj Luxury Hotels capture the essence of the Taj experience. Located in the main Indian cities, they maintain high standards in all the services they offer. With exquisitely appointed rooms and modern comforts, these hotels offer the finest standards of hospitality and service. Standing testimony to the quality of service, a number of the luxury hotels of the Taj Group are members of the Leading Hotels of the World. These include The Taj Mahal Palace & Tower (Mumbai), Taj Palace Hotel (New Delhi), The Taj Mahal Hotel (New Delhi), Taj Bengal (Kolkata), The Taj West End (Bangalore) and The Taj Coromandel Hotel (Chennai). Taj business hotels: Located in the heart of India's key commercial cities and towns, the Taj Business Hotels provide every modern facility at particularly attractive room rates. These international style hotels meet the growing needs of business travellers visiting cities, which are rapidly industrialising and expanding. The best hotels in their environment, the Taj business hotels offer multi-cuisine restaurants and the best business facilities in the city. Vibrant and progressive, they retain the warmth and spirit of India. The company anticipates that a significant portion of its long-term growth will come from the expansion of this brand and is actively seeking ways of strengthening and expanding this brand. Taj leisure hotels: At the Taj leisure hotels, pleasure seekers, the curious and those simply wanting to get away from it all can do just that. These properties include idyllic beach resorts, genuine palaces, turn-of-the-century garden retreats, hotels located close to historic monuments, pilgrim centres and some of India's best wildlife sanctuaries. Taj Palace Hotels are exquisite 18th century monuments replete with domes, terraces, carved pillars and archways built in the true royal Rajput style. These hotels are characterised by opulent, uniquely appointed, spacious rooms, with exquisite decor. An abundance of sun, sand and surf await the leisure traveller at the Taj beach resort hotels. The Taj Group of Hotels has won numerous prestigious international travel awards, reinforcing its position as India's largest and finest hotel chain. A hundred on, the Taj's visage is as young as ever and its hospitality even stronger.

AJJAY BIJLI PVR MULTIPLEX

Can Ajjay Bijli stay ahead of the herd? He was one of the pioneers of the multiplex revolution that is sweeping the country. But now he must compete with scores of others who think that building malls and multiplexes is the best way to riches. 170

Certainly Bijli isn't about to slow down. The son of a transporter (who was known in industry circles as Bijli Pahalwan) is in the middle of a heroic bid to turn his PVR Cinemas into a national-level company with screens around the country. To that end Bijli is moving faster than the plots of the movies he screens. In the next eight months he plans to open around 40 screens in five locations. By 2005 he hopes to be showing movies at 100 screens all around the country. In fact, the building is already on at furious pace in several locations. In Bangalore, a 11-screen theatre is under development and another five-screen complex is being built in Hyderabad. Bijli is also finalising plans for an eight-screen property in Mumbai. "A presence in Mumbai is essential," he says. Meanwhile, he isn't neglecting Delhi where he started from. The company opened a multiplex in Gurgaon earlier this year and a two-screen complex is coming up in Faridabad. Besides that, PVR has taken over Plaza, one of the Capital's oldest cinema houses and is gutting it from top to bottom to turn it into a modern entertainment complex. It also has two multiplexes in Vikaspuri and at Naraina in west Delhi. Bijli even harbours ambitions of taking PVR outside India. That could be in the distant future because there's still plenty to be done in this country. But he certainly has a formidable war chest of cash for his new ventures. A few months ago ICICI's India Advantage Fund picked up a 30 per cent stake in PVR Ltd for Rs 38 crore (Rs 380 million). The cash plus another Rs 70 crore (Rs 700 million) (from PVR's debt and internal accruals) will fund the ambitious expansion drive from Delhi to Mumbai and Bangalore. "But that doesn't imply we will get into non-core businesses like retail and film production as of now," says Bijli. "We are at the infant stage of the multiplex boom and we've got miles to go before we become a national brand. All said and done, we are a Delhi brand," admits Bijli. But Bijli definitely has his pulse on the entertainment industry unlike many who aspire to be multiplex owners. Recently, he backed a bizarre promotional event that picked up even more publicity than he had reckoned on. He organised a contest in which people had to sit stationery inside a car (which was parked outside one of the PVR cinemas) for an indefinite period. The person who stayed the longest received the prize and Bijli received more publicity than even he had anticipated. Crazy as the scheme sounded, it helped spruce up the sagging collections at PVR Naraina where it was held. PVR Naraina needs a bit of a boost because, apart from a solitary coffee shop, it has yet to develop into a hot spot like the other PVRs in the Capital. One concept that Bijli has understood unerringly is that it's important to turn the multiplex into a hangout with cool restaurants and the like.

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Priya, the first theatre he owned, became a city hot spot with multinational brands like McDonalds and Pizza Hut making their presence felt. Bijli also went about energetically marketing PVR Anupam. But the multiplex business is getting tougher than ever before and Bijli knows it. His revenues have jumped seven-fold between 1997 and now. But he can't rest on his laurels because scores of others are leaping into the game. In Delhi alone companies like Digital Talkies, 3Cs and Wave are racing to catch up. Nevertheless, Bijli has a head start on his rivals. Back in 1988 he graduated from Hindu College in Delhi and was thrown in at the deep end of his family business, the Amritsar Transport Corporation (or ATC, as it is known today). ATC was a freight carrier company which had 550 trucks that criss-crossed north India. And alongside this regular business, the Bijlis owned the Priya cinema at Vasant Vihar. The cinema business seemed quite glamorous compared to trucking and it sparked the interest of the young Bijli about 10 years ago. "At that time the exhibition business wasn't doing too well, due to the administered ticket prices, which implied that we would have to keep some tickets priced at the lowest denominator prescribed by the government," reminiscences Bijli. Cinemas were also in dire straits because of the video menace. But distributors were still looking for good theatres where English movies could be exhibited. "But due to the uncertain state of the trade," says Ajay, "no theatre owner was keen on the additional investment to attract English films." Priya cinema was very much in the red till the early '90s, when Bijli's father gave him Rs 40 lakh (4 million) to re-do Priya. "I was hugely inspired by the success that Regent cinema had, after it installed Dolby sound in its theatres," says Bijli. "And to end the monopoly of Chanakya, which was the only hall that showed English films, I was the first to instal surround sound and Dolby in Delhi." Bijli spruced up the carpeting, installed better air conditioners and decided to show only English films. "However, the kind of films we were showing before the renovation, was embarrassing -- almost semi-porn stuff," confesses Bijli." That was because very few films were available. The renovated Priya opened with the comedy Three Men and a Baby and the then Priya regulars (who had expected something else after seeing the name) were disappointed. As a consequence occupancy dropped steeply. However sales soon picked up and while Priya was growing from strength to strength, Bijli met Mike Macclesfield, the president of Universal Pictures who suggested he should think about multiplexes and talk to an Australian company called Village Roadshow. After two trips, Bijli flew down to Singapore and in 1995, a 60-40 joint venture was signed between Bijli and Village Roadshow, and after much scouting Anupam at Saket, in the Capital, was bought over."With an investment of around Rs 7 crore (Rs 70 million), I converted it into a four-screen multiplex, which opened with the Tom Cruise-starrer Jerry Maguire, in June 1997. And in a span of two years, we were in the black," says Bijli. 172

However, while Priya was rocking as a hot spot in the city, PVR Anupam was quite drab. Bijli went about marketing space in and around the multiplex. Dominos was the first to enter the premises, and very soon others followed.It was then that the marketing plans were unleashed. Movie festivals were hosted, papers were splashed with ads, all the big studios -- Fox, Paramount, Warner -- came knocking and in a span of two years, the cinema finally broke even. In 1999-2000 PVR did business of Rs 24 crore (Rs 240 million). In the year 2000, while both theatres were doing well, Bijli was advised by friend and guide Sunil Mittal, to do a three-week-long 'owner's management programme at Harvard Business School. "The workshop really opened my eyes. Simultaneously, as the regulatory framework allowed de-controlling of tickets, the multiplex boom that was waiting to happen took place," says Bijli.But Bijli's biggest test could still be ahead. The multiplex business is now the hot favourite both for real estate developers who want to get into value added businesses and for others who simply have plenty of cash in hand. So, Ajay Bijli, the king of India's multiplexes, will have to keep moving quickly to ensure that he isn't dethroned. There are possibly two things Arvind Swami, 33, former movie star and now chairman and managing director of ProLease India, finds difficult to avoid. One, looking directly into your eyes when he is talking to you, and blushing at mention of his former film career. A movie career that spanned less than three years and nine movies, the biggest grosser being Roja, a film on terrorism in Kashmir, Arvind Swami today has re-invented himself as a BPO entrepreneur. Not many know that Arvind's BPO venture is one of the biggest players in its segment in the United States. Having quit movies five years back, he has not looked back since. Arvind today is part of the Washington-based InterPro Holding, the holding company of ProLease and InterPro India, and a $670 million business process outsourcing venture. Worldwide InterPro and ProLease have about 3000 seats and employ about 5000 people in their operations across the US, Europe, Australia, the Philippines, China and India. After a brief tenure in movies in 1991, Arvind moved to the US for his masters in business administration. Personal reasons brought him back to India before he could complete his MBA. The brief honeymoon with the arc lights continued for a couple of years more, but by 1994, he chucked it all up for the formation and development of InterPro in the US. By the time the Indian operations began to take shape in 2001, Prolease was already a name to reckon with in the BPO space in the US. Elsewhere in the world ,the company operates through InterPro. Hear it straight from the horse's mouth, "Not many know that we are the second largest payroll processing company in Australia." 173

Arvind Swami- PRO LEASE

Of course, the credit partly goes to InterPro buying out NPS, a payroll processing company in Australia. Talking of acquisitions, Arvind heads the five-member M&A team of InterPro. "We have so far acquired 18 companies world over," he says. And M&A has been the secret behind the topline growth of the InterPro group. "We have grown 70 per cent yearon-year for the last five years," he says in a subdued and unhurried manner. The Indian operations are also keeping pace with the hectic pace. It is looking at expanding from a 300-member team to a 1,500-strong team in the next one year. InterPro already operates out of six centres in India. The expansion will come about in Chennai would cost a neat Rs 50 crore (Rs 500 million). "I would very much want this expansion to happen in the heart of the city. I wouldn't want my colleagues to travel 25-30 km every day to work," he says. The group's IT consultant business, delivered through software services player Megasoft, has also started to look up. InterPro bought controlling stake in the Chennai-based firm this year. "It is very much a profitable business." The year ahead, though, is for stock taking. The next year the company would be focussing on knowledge management, and it has already put in place a 30 strong team to handle this. "We have grown fast and now it is time to take stock and learn from what we have achieved over the last nine years."

Chirag Mehta- Icenet

Till 1997, the last thing on Chirag Mehta's mind was an Internet-related business. That year, Mehta, along with a childhood friend Hemal Patel, visited Bangalore. There they learnt that the government was considering privatising the Internet service provider business. Excited by what he thought was a great business opportunity, Mehta flew to the United States to study how ISPs functioned there. He came back a year later, and started Icenet in late 1998 with just five people on rolls. Today, with dedicated fibre optic cable networks, digital modems, a fully automated helpdesk and a user-to-lines ratio conforming to global standards, Icenet, India's first private sector Internet service provider, stands out in a pool of 25 ISPs in Gujarat. It was not easy at all. Mehta went back to being a student, researching and learning the fundamentals of information technology and internetworking. He went into the intricacies of wide area networking design, spending as much as 19 hours a day. This, combined with his electronics engineering background, helped him imbibe the nuances of the ISP business well. He said he became adept in six months. It was a major switch in life, for the family business -- the Elemech Group -- was manufacturing electric and electronic control panels. 174

Adopting aggressive customer acquisition strategies and devising unique marketing concepts such as 'IcePack'. IcePack, a value added Internet package kit, was launched in May 2000, the first anniversary of Icenet. Along with the 30-hour and 100-hour Internet connections that the package offered, several freebies were added, which were worth almost double the amount paid for the pack. Icenet tied up with Intel, Samsung, IBM and local snack foods maker Samrat Namkeen to offer several sops to subscribers. The concept became so successful that Icenet sold around 80 packs a day during that month compared with around eight to ten packs a day before the scheme was launched. Soon, Icenet managed to have a strong customer base even as the ISP business steadily declined in other parts of the country. The challenge to lead the market prompted Mehta to launch Internet-on-cable on its metropolitan area network technology developed in-house. Under MAN, a modem is not required. Instead, a digital card is used, which is one-fourth of the cost of a modem and is included in the 100-hour package for subscribers. Today, Icenet has a strong customer base of over 20,000 netizens and the Icenet team itself has grown to 115. The company has a presence in nine cities of Gujarat and has its own gateway, which was launched on November 11, 2000. 40-year old Mehta claims he has the most loyal subscriber population among all ISPs in the country, and that they are determined to take that journey along with Icenet. How is that? Through personal mails that the company receives, most of which are addressed to Mehta himself. But it's not just Icenet that Mehta has concentrated on. During his decade-long tenure at Elmech in Ahmedabad, he totally restructured the company. Introducing value-based marketing, recasting and strengthening the brand value, Mehta has positioned the company as a competitor to international giants such as Larsen & Toubro, Siemens and ABB. So, what does a man who is so deeply involved in the World Wide Web business do with his spare time? Chirag has developed a deep interest in Indian classical music and attends all concerts of leading Indian classical musicians. He says this is the country's biggest treasure. The Icenet helmsman seeks peace by playing the tabla -- if he's not working, travelling for leisure, or pandering to his gastronomic proclivities, that is. He has taken training at the Punjab gharana, to which belongs the legendary Ustaad Zakir Hussain. His wife Nandini is a Kathak dancer and son Parth too plays the tabla.

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Jai Arjun Singh - HIDESIGN

It's a brand that has moved from unremarkable, unambitious origins to becoming the best-known player in the Indian leather business. But Hidesign isn't resting on its laurels just yet. The company, hitherto known mainly for its utility-based bags and briefcases, is getting into synthetics and expanding its portfolio to include more fashionable leather products. But all this, insists Hidesign president Dilip Kapur, will be done without compromising the brand's core values. "We felt the need to get into trendier products," says the genial, well-spoken Kapur, who -- being accustomed to Pondicherry's balmy climate -- comes to Delhi only when it's absolutely necessary. The company is going down the fashion route through a soon-to-be-launched range of bags aimed at "the kind of market where products have a limited life because new fashions come in." The other change in Hidesign's strategy is that it is making more products for women. This decision had its roots in the recession that followed the 9/11 tragedy which, Kapur says, severely affected leather sales worldwide. "At the time, we were largely into men's products, which were worst hit," he says. "While the post-9/11 gloom was on, there was a significant dip in men's spending on such products, but women's buying habits weren't affected to the same extent." Research shows that at the best of times, the likelihood of women patronising a fashionable high-quality product is almost thrice that of their male counterparts. Today 50 per cent of Hidesign's products are for female consumers. "Ladies handbags contributed about 43 per cent of our turnover last year," says Kapur. "This year so far handbags have contributed 64 per cent and we believe this figure will grow further. So we are concentrating on bringing in newer and more fashionable styles in handbags." With Hidesign now clearly targeting the career woman, the focus is on a mix of design, fashion and quality. Kapur has strong views on what makes for high-quality leather. "The first sign of bad leather is when it looks perfect and has a distinct shine," he says. "Higher-grade leather will always have less finish." It's part of company policy to rebel against "that shiny, unnatural look." Another of the company's hallmarks is its use of vegetable tanning, which, Kapur says, is much more ecologically friendly than the widely practised chrome tanning. A few years ago, when the Tamil Nadu government shut down 500-odd tanneries for ecological reasons, Hidesign's factory was one of the few allowed to continue operating. 176

"The area around tanneries that use chrome-tanned leather is virtually a wasteland," says Kapur, "but our factory is surrounded by lily gardens." "But vegetable-tanned tanned leather isn't very soft or flexible, hence is best used for making briefcases," he says. Hidesign had a modest start. The brand began life in 1978 as a one-man artisan workshop, with Kapur handcrafting leather bags, jackets and accessories for export. At the time he was more involved with the Aurobindo Ashram (Auroville) in Pondicherry than with leather. He would produce bags at home during the spare time he got from working for Auroville. "It was little more than a hobby back then," he laughs, "but without my even realising it the operations kept getting bigger. I had to keep expanding." On one occasion, he remembers, a German company placed an order for 300 bags -- and Kapur had never made more than 20 a month! "I realised I was on to something," he says. It wasn't until 1990 though that he got really serious about his hobby, setting up a factory near his house and employing 300 workers. Today that number has risen to over 2,000. Besides the seven-acre plant in Pondicherry, Hidesign has two European-standard tanneries near Chennai. The company has a turnover of Rs 48 crore (Rs 480 million) in India and a further Rs 8 crore (Rs 80 million) to Rs 10 crore (Rs 100 million) from its South African subsidiary, which was started to tap the South African market. Last year the company also floated a new joint venture called Hidesign Global in Amsterdam -- the plan being to set up specially designed, exclusive stores all over the world. Though exports account for close to 80 per cent of the company's sales, India is fast emerging as a high-potential market for Hidesign, which is why a lot of investment is planned in new shops this year. "There will be four new exclusive stores -- in Noida, Gurgaon, Mumbai and Chennai," says Kapur, "apart from new alliances with multi-brand departmental stores." The company already has around 15 exclusive stores across India. In 1991 Hidesign had started dabbling in leather garments as well. But Kapur admits the move hasn't been particularly successful. "Leather garments as a percentage of our turnover are reducing," he says. "Garments made of leather have become less fashionable internationally." Further, the Indian leather garments industry has come down by 30 per cent, thanks largely to competition from China (which has a huge pig leather base), Vietnam and Indonesia. So the bags category is clearly the way ahead for the company. Further, the accent on fashion will mean more worked-upon leathers, antique feel and finish, embellishments on bags, handiwork and craftsmanship. But at the same time, some core values can't be compromised, adds Kapur. "Hidesign will never make a bag you can't carry to office." The world's first frozen dosa 177

Yajnarayana Maiya - MTR FOODS

The idlis and sambar are every bit as tasty, when they land on a snow-clad mountainous region on the northern frontiers of India, as the ones you get in the best Udipi hotels, thanks to the expertise of the Bangalore-based MTR Foods. Few people, even inside the company, know that some of MTR Foods' ready-to-eat food is flown out to the soldiers who guard the Indian frontiers in the freezing climes of the Himalayas. The company now boasts of having created the world's first ever frozen dosa, which can be heated and eaten straightaway. "We are not at liberty to tell you what we charge for each of these packets, or how many we despatch each year," says Sadananda Maiya, managing director of MTR Foods. "We do not even know ourselves in advance when the packets will be picked up or where they are taken to." Interestingly, the foods are packed by using the technology that MTR bought from the Defence Food Research Laboratory in Mysore. The company also received a technology absorption award from the central government. The packing technology has helped the firm make the big leap from a manufacturer of spices, papads, pickles, chips, pastas and other such snacks to ready-to-eat foods, ready-to-cook gravies and frozen foods. But for the lack of the technology, MTR would have entered the ready-to-eat food market long ago. Maiya admits that the cost of packing is actually almost half the price component of the finished foods. What is most interesting about MTR's packaged food - as against the others of its kind - is that the company prepares its fare without adding any preservatives, Maiya says. The food is heated to a high temperature, at which heat all microbes die, and then it is cooled in a very sterile manner and packed. So, even without preservatives, you can store the cooked-and-ready masala dosas or alu bhaji for almost a year. For many years, Mavalli Tiffin Room, now known as MTR, has been a heritage restaurant that is a must-see for visitors to Bangalore. It specialises in an entire range of South Indian foods, and is located in the busy Lalbagh area. Sadananda Maiya's father Yajnarayana Maiya started it in 1924. The Maiyas, of course, have their origins on the Karavali coast of Karnataka, which is famous for its vegetarian cuisine. Hygiene has been a major selling point of MTR for the past half century ever since Yajnanarayana toured Europe for the first time and was impressed by the clean restaurants there. In fact, the entrance to the eatery was from the kitchen, for many years, to enable patrons to satisfy themselves about how clean their food was. 178

Sadananda himself joined MTR as an apprentice cook, after his father died in 1968, although he was actually in the engineering college at that time. "We then went on to make MTR the first fast food restaurant in the world with a record of serving 21,000 customers in seven hours," he says proudly. They grew happily as a popular restaurant with a distinct brand name till Emergency. Then, the Union government decreed that the five popular restaurants in Bangalore, including MTR, should reduce their prices and make them affordable to the common man. MTR had to comply, but kept its food standards high, and eventually closed down after two weeks. This was when the Maiyas diversified into a side business of convenience foods and instant mixes. They began with powder mixes for rava idli, dosa, rasam, sambar and khara bhaath. When the eatery opened again later, they continued the side business. By the beginning of the 1990s, the readymade mix business was doing so well that the MTR Food Products shifted to a modern plant in Bommasandra. Now, there is a whole cluster of factories in Bommasandra belonging to the company, including one that makes ice cream. Besides, Maiya has invested Rs 40 lakh (Rs 4 million) for a clean-in-plant technology for his ice cream factory to ensure that the ice creams are absolutely hygienic. By then, Sadananda had broke away as a separate entity. The restaurant continues to function now under Maiya's niece Hemamalini and her brother. MTR Foods is under Sadananda. Now, this company has an export income of about Rs 8 crore (Rs 80 million) per annum. Their turnover last year was Rs 103 crore (Rs 1.03 billion). In another four years, Maiya hopes to achieve a turnover of Rs 500 crore (Rs 5 billion), and an export income of over Rs 100 crore (Rs 1 billion). Interestingly, Maiya says only his export to the Gulf was hit by the SARS-threat. It is business as usual with the United States, which accounts for half of his export, and to the United Kingdom, where he has tie-ups with various food companies. Maiya has several new products up his sleeve. Next to hit the market will be a series of rice dishes, including a khichadi made out of daliya and moong dal for diabetic patients, all priced at Rs 12 each. He promises that each will provide a substantial meal for one. The range will include rasam rice, sambar rice, zeera rice and even pongal, the popular South Indian rice meal. Now, the firm has 11 food product ranges: spices, instant mixes, ready-to-eat foods, ready-to-cook gravies, frozen foods, papads, pickles, chips, pastas, snacks and ice creams. Within these ranges, there are a whole lot of dishes. When Maiya decided to target North India, he realised that he must capture the exact flavour of the foods of that region. This was hard to do, considering that he was a hardcore South Indian himself. So he tied up with Jiggs Kalra, who helped him devise various special recipes.

179

He also realises that the South and the North have different versions of the same dishes. So he takes effort to cater to all of them. If you buy a ready-to-eat packet of chana masala in Bangalore, it will taste quite different from a packet of the same dish sold in a supermarket in Delhi or Lucknow. In India, many supermarkets in Bangalore already have special fast food counters of Maiya's dishes, largely as a brand-building exercise. Even now, all new dishes are first tried out in Maiya's home kitchen. Then, the technique of converting them to a storable food is evolved

V G Siddhartha: CAF COFFEE DAY

When V G Siddhartha talks about money, his eyes acquire the blaze of missionary zeal. And you cannot help but get 'converted': he makes the entire process of making seem like fun, and you begin to feel that it must be a very simple thing to do indeed. "When I was a young man just out of college in Mangalore, I decided that I wanted to get into business and make a lot of money: albeit, in a very respectable manner," he says, his eyes sparkling simply furnished office in Raheja Chambers in Bangalore.

with delight, sitting in his

The M F Husain paintings on the walls are the only indicator that this space belongs to a very successful businessman. There were three options that he considered seriously at that time: exports of some kind, trading in stocks and shares, and trading in metals. Metals, he discarded, as 'not a very pretty option'. As he could not figure out what to export, he decided to join J M Financial Services -- now J M Morgan Stanley -- in Bombay as a management trainee. Almost 15 years later, Siddhartha is now virtually the coffee king of Karnataka. He grows coffee on 2,500 acres of plantations in Chikmagalur, the heart of the coffee-growing region of Karnataka. He exports about 28,000 tonne of coffee annually, sells another 2,000 tonne locally for about Rs 350 million each year, and his coffee growing and trading company Amalgamated Bean Company has an annual turnover of Rs 25 billion. Siddhartha now has 200 exclusive retail outlets selling his brand of Coffee Day powder all over South India. He is also halfway through negotiations with at least two foreign investors, who will invest another Rs 1 billion in his coffee retail business, and help him go national with his branded stores, increasing them to 600 in number, spread over the whole country. After two years, he plans to take the chain overseas: into China and Singapore. However, Siddhartha has not stopped just at selling coffee. He was the first entrepreneur in Karnataka to set up a cyber caf in 1996. Now, he has 11 Coffee Day Cafes all over Bangalore, and another four due to open in Hyderabad shortly. V G Siddhartha also hopes to bag the contract to take his chain to all the airports of Karnataka and then the rest of the country.

His cyber cafes attract at least 40,000 to 50,000 visitors a week. "But that is not my thrust business area at the moment," says Siddhartha, almost dismissing Rs 1 billion with a wave of his hand. His pride and joy at the moment is Global Technology Ventures (GTV), a Bangalore-based incubator that will create, build and mentor the development of Indian technology companies. GTV was formally launched only in May this year, but along with its promoting company Sivan Securities, already has stakes in 24 young companies, including high profile start-ups like Sabeer Bhatia's 180

Arzoo!.com, Ashok Soota's MindTree Consulting, Ramana Gogula's Liqwid Krystal and B V Jagadeesh's NetMagic. Siddhartha's company Sivan holds 80 per cent in GTV, while Bank of America Equity Partners (BAEP), which provides private equity capital to the Bank of America Corp, has the remaining 20 per cent. GTV has now set up a global technology village on a 59-acre technology incubator park in Bangalore, which will provide its companies office space, communication links, recreational facilities and even a commercial centre. GTV has been valued by BankAm at $100 million last year, and is expected to have doubled its valuation this year. It is poised to grow on the lines of Softbank of Japan. A family connection that seems to embarrass Siddhartha a little bit now is that he is the son-in-law of S M Krishna, the Chief Minister of Karnataka. The media never fails to focus attention on this when writing about his business interests. Thus, Siddhartha often prefers to avoid contact with the media. He prefers so much to remain just a low-profile businessman, that he refuses to even pose for photographs. Vernacular media even wrote that Siddhartha made his money with the help of political favours. "I had already bought most of my coffee plantations before my marriage, which took place in 1989," says Siddhartha, debunking all speculation right away. "Krishna became a minister only in 1992. What major favours could he have done for me to help me buy my plantations before that? Actually, it works the other way around. Businessmen all over the country fund both political parties and individual politicians. This happens in other countries too, but there its all legal, above board and organised, that's the only difference." After a two-year stint with J M Financial Services, when Siddhartha returned to Bangalore, his father gave him a good amount of money to start any business of his choice. Siddhartha promptly bought a stock market card for Rs 30,000 with it, along with a company called Sivan and Company, as well as a site in the city. "I was a very smart trader," says Siddhartha with an endearing kind of self pride. "I made money almost every day on the stock market. And with whatever money I made, I kept buying coffee plantations in Chikmagalur. My family background was such that I had a mindset that the new economy might not be the greatest, and that solid, tangible, physical assets like land were the best to own." When the coffee business was opened up due to liberalisation in 1993, and government restrictions compelling planters to hand over most of their produce to the Coffee Board were eliminated, Siddhartha was one of the earliest beneficiaries. He admits to having actually facilitated the process by lobbying actively for this removal of restrictions. He started his coffee trading company ABC in 1993, with a Rs 60 million turnover. His company grew gradually. He bought a sick coffee curing unit in Hassan for Rs 40 million and turned it around. Now, his company has a curing capacity of 75,000 tonne, which is the largest in the country. Last year, ABC's coffee exports were 28,000 tonne, and his projection for this year was 33,000 tonne. "Then, I thought selling coffee in bulk as a commodity without branding had no future," continues Siddhartha. So he started special retail outlets for his branded coffee powder all over Karnataka. He now has 18 outlets in Tamil Nadu, 20 in Andhra Pradesh, 6-7 in Kerala and about 90 all over Karnataka. They are all owned half by his company and half by other franchisees. He sells 7-8 tonne tonne of coffee per week through this outlets to over 100,000 buyers. The cafes, which he started later on, draw 6,000 to 7,000 visitors a day. Then, he decided to use the network he had developed as a raiser of funds for other companies on his own coffee retail business. "I would like my chain to become like the Starbuck of Asia," he said, referring to America's leading coffee retail and caf chain. The cyber caf concept was just incidental to his coffee retail business. "I thought 181

Internet access would be a good way to attract young people to the cafes, and give them a clean hangout place," he explained. When the stock market crashed in the early 1990s, Siddhartha began to look around for a new investment avenue that would spin him good returns. He decided to invest in technology. Thus began Sivan Securities, which is now a major player in the South Indian capital market, which is now featured among the top 12 investment brokers in the country. It has a network of 35 offices spread over 25 cities in South India catering to both corporate and retail clientele. Its secondary capitals market division is now in the process of developing an Internet-based trading portal to provide access to retail investors in remote centres. Siddhartha certainly seems to be blessed with that special intuition that enables him pick out business areas that are poised for takeoff, and get into them before everyone else. This will probably make him one of the major players in the money game in the country soon enough. RAI BAHADUR MOHAN SINGH OBEROI OBEROI GROUP OF HOTELS Known as the Grand Old Man of the Indian Hospitality business, Rai Bahadur Mohan Singh Oberoi was the founder of the well known Oberoi Group which today owns several luxury hotels, resorts and a luxury cruise line. His tireless efforts helped mark India as a major site for world tourism. Mohan Singh Oberoi's life is a literal rags-to-riches story. He was born on August 15 1898 in Bhaun, a small village in erstwhile undivided Punjab. His father Attar Singh Oberoi was a small time contractor in Peshawar. Unfortunately the young Attar Singh soon died because of a cholera epidemic, leaving behind his 18 year old widow Bhagwanti and small six month old son. They returned to Bhaun where he and his mother were sheltered by his grandfather. After completing his basic education in the village school, he matriculated from DAV School in Rawalpindi. He then passed his intermediate examinations from Lahore. Later, he enrolled himself in a stenography course in Amritsar. His first job was as a supervisor in a shoe factory. However the factory closed down and he was left unemployed. It was at this time that he was married to Ishran Devi from his native village. In 1922 he decided to apply for a government job in Simla. He did not get the appointment but with typical panache, he approached Mr. Grove, the manager of the luxurious Hotel Cecil and was hired as a clerk. Mr. Grove was succeeded by Mr. Clarke, who promoted the young man to the post of cashier and stenographer. Pandit Motilal Nehru, who was a frequent guest at the hotel was impressed by his dedication and hard work and rewarded the young Oberoi with the princely sum of Rs.100. By this time, the Oberois had two children called Rajrani and Tilak Raj. In 1924, when Mr. Clarke decided to go into business for himself, he invited the industrious Oberoi to join him. The first business venture was a catering contract for the elite Club. The next project was leasing an old Simla hotel called the Carlton. Renamed to Clarke's Hotel, it was soon a raging success. After five years, with the retirement of Mr. Clarke, Oberoi took over the business. It was the first of the hotels that Oberoi eventually acquired. In 1938, he leased the Grand Hotel in Calcutta for a sum of Rs. 7000 every month. He turned around the fortunes of the ailing hotel with a brilliant move. World War II was on and Calcutta was teeming with soldiers. Oberoi completely refurbished the hotel and set up facilities to accommodate 1500 beds, which he then offered to the British army for a sum of Rs. 10 each. Oberoi was not just rewarded by success but he was also given the title of Rai Bahadur by the British Government for his efforts. In 1943, he took over Associated Hotels of India Limited and gained control over hotels located in Delhi, Lahore and Rawalpindi. He then gradually added more hotels to the group beginning with establishments in Darjeeling and Orissa. He also had the innovative idea of using old palaces and heritage monuments as hotels thereby also ensuring that the buildings were properly maintained. He envisioned the Oberoi Group as a premier Hospitality Agency catering to all aspects of the tourism industry. Under his leadership, the company diversified restaurants and tour services. Oberoi Group was one of the first companies to have women employees in the Hospitality Sector. He also founded the Oberoi Centre of Learning and Development. He also had a successful political career. He was elected to the Rajya Sabha twice, in 1962 and 1972 and he became an elected member of the Lok Sabha in 1968. Mr Oberoi has won several honors over his lifetime. He was chosen as an "Elite Winner of 1978" by Newsweek Magazine and honored by the Government of India with the Padma Bhushan in 2001. He passed away at the age of 103 on May 3, 2002. 182

MOTHER DAIRY Mother Dairy - Delhi was set up in 1974 under the Operation Flood Programme. It is now a subsidiary company of National Dairy Development Board (NDDB). Mother Dairy sources its entire requirement of liquid milk from dairy cooperatives. Similarly, Mother Dairy sources fruits and vegetables from farmers/growers associations. Mother Dairy also contributes to the cause of oilseeds grower cooperatives that manufacture/ pack the Dhara range of edible oils by undertaking to nationally market all Dhara products. It is Mother Dairy's constant endeavor to (a) ensure that milk producers and farmers regularly and continually receive market prices by offering quality milk, milk products and other food products to consumers at competitive prices and; (b) uphold institutional structures that empower milk producers and farmers through processes that are equitable. At Mother Dairy, processing of milk is controlled by process automation whereby state-of-the-art microprocessor technology is adopted to integrate and completely automate all functions of the milk processing areas to ensure high product quality/ reliability and safety. Mother Dairy, Delhi has been awarded ISO 9001 :2000 (Quality Management Systems), HACCP,2002 RvA (Food Safety Management Systems) and ISO 14001 :2004 (Environmental Management Systems) Certifications. Moreover, its Quality Assurance Laboratory is Accredited as per ISO/IEC 17025 :1999 by National Accreditation Board for Testing and Calibration Laboratories, Department of Science and Technology, Government of India. Mother Dairy markets dairy products like Liquid Milk, Ice Creams, Flavoured Milk, Dahi, Lassi, Mishti Doi, Ghee, Butter, Cheese, Dairy Whitener, UHT Milk, Dhara range of edible oils and the Safal range of fresh fruits & vegetables, frozen vegetables and fruit juices at a national level, through it's sales and distribution networks, for marketing food items. In times to come, Mother Dairy shall strive to become a leading player in the food industry in India. Our range of products include 1. Dairy products a. Dairy whitener b. Table butter c. Ghee d. Full cream milk powder e. Skimmed milk powder f. Toned homogenized milk 2. Fruit & Vegetable products a. Alphonso mango pulp b. Mango pulp/ concentrate c. Mango slice in brine d. Totapuri % Alphonso Mango pulp blend e. Organic alphonso mango pulp f. Banana puree g. Organic Banana puree / pulp h. Organic Red papaya puree / pulp i. Papaya pulp / concentrate j. Guava pulp/ concentrate k. Tamarind juice concentrate l. Juices m. Jams n. Ketchup 183

NATIONAL DAIRY DEVELOPMENT BOARD- NDDB

The National Dairy Development Board (NDDB) was founded in 1965 to replace exploitation with empowerment, tradition with modernity, stagnation with growth, transforming dairying into an instrument for the development of India's rural people. NDDB began its operations with the mission of making dairying a vehicle to a better future for millions of grassroots milk producers. The mission achieved thrust and direction with the launching of "Operation Flood", a programme extending over 26 years and which used World Bank loan to finance India's emergence as the world's largest milk producing nation. Operation Flood's third phase was completed in 1996 and has to its credit a number of significant achievements. As on March 2006, India's 1,17,575 village dairy cooperatives federated into 170 milk unions and 15 federations procured on an average 21.5 million litres of milk every day. 12.4 milliion farmers are presently members of village dairy cooperatives. Since its inception, the Dairy Board has planned and spearheaded India's dairy programmes by placing dairy development in the hands of milk producers and the professionals they employ to manage their cooperatives. In addition, NDDB also promotes other commodity-based cooperatives, allied industries and veterinary biologicals on an intensive and nation-wide basis. one of t World's largest rural development programmes Launched in 1970, Operation Flood has helped dairy farmers direct their own development, placing control of the resources they create in their own hands. A National Milk Grid links milk producers throughout India with consumers in over 700 towns and cities, reducing seasonal and regional price variations while ensuring that the producer gets fair market prices in a transparent manner on a regular basis. The bedrock of Operation Flood has been village milk producers' cooperatives, which procure milk and provide inputs and services, making modern management and technology available to members. Operation Flood's objectives included : Increase milk production ("a flood of milk") Augment rural incomes Reasonable prices for consumers Operation Flood was implemented in three phases. Phase I Phase I (1970-1980) was financed by the sale of skimmed milk powder and butter oil gifted by the European Union then EEC through the World Food Programme. NDDB planned the programme and negotiated the details 184

of EEC assistance. During its first phase, Operation Flood linked 18 of India's premier milksheds with consumers in India's four major metropolitan cities: Delhi, Mumbai, Kolkata and Chennai. Phase II Operation Flood's Phase II (1981-85) increased the milksheds from 18 to 136; 290 urban markets expanded the outlets for milk. By the end of 1985, a self-sustaining system of 43,000 village cooperatives covering 4.25 million milk producers had become a reality. Domestic milk powder production increased from 22,000 tons in the pre-project year to 140,000 tons by 1989, all of the increase coming from dairies set up under Operation Flood. In this way EEC gifts and World Bank loan helped to promote self-reliance. Direct marketing of milk by producers' cooperatives increased by several million litres a day. Phase III Phase III (1985-1996) enabled dairy cooperatives to expand and strengthen the infrastructure required to procure and market increasing volumes of milk. Veterinary first-aid health care services, feed and artificial insemination services for cooperative members were extended, along with intensified member education. Operation Flood's Phase III consolidated India's dairy cooperative movement, adding 30,000 new dairy cooperatives to the 42,000 existing societies organised during Phase II. Milksheds peaked to 173 in 1988-89 with the numbers of women members and Women's Dairy Cooperative Societies increasing significantly. Phase III gave increased emphasis to research and development in animal health and animal nutrition. Innovations like vaccine for Theileriosis , bypass protein feed and urea-molasses mineral blocks, all contributed to the enhanced productivity of milch animals. From the outset, Operation Flood was conceived and implemented as much more than a dairy programme. Rather, dairying was seen as an instrument of development, generating employment and regular incomes for millions of rural people. "Operation Flood can be viewed as a twenty year experiment confirming the Rural Development Vision" ( World Bank Report 1997c.) Operation Flood's success led to NDDB evolving similar programmes for other commodities. Where potential synergies exist, NDDB has created commercial firms to exploit these for the benefit of rural producers. Some of NDDB's commercial operations include: Indian Immunologicals Limited (IIL), Hyderabad, IDMC Limited (IDMC), Anand, Mother Dairy Fruit & Vegetable Limited (MD F&V), Delhi and Dhara Vegetable Oil and Foods Company Limited (DOFCO), Vadodara. In its larger interest to promote the development of cooperatives NDDB has set up seperate units and works in close association with a number of national level institutions. Some of these include: Sabarmati Ashram Gaushala (SAG), Bidaj, Animal Breeding Centre (ABC), Salon, Institute of Rural Management, Anand (IRMA), National Cooperative Dairy Federation of India (NCDFI), Anand and Foundation for Ecological Security (FES), Anand.

Subsidiaries Indian Immunologicals Limited, Hyderabad IDMC Limited, Anand 185

Mother Dairy Fruit & Vegetable Limited, Delhi Dhara Vegetable Oil & Foods Company Limited, Anand NATIONAL EGG COORDINATION COMMITTEE - NECC

Around the year 1981, the Indian poultry industry was hit by an unprecedented crises. Over 40 percent of all poultry farmers had stopped operations because the business had become econimically unviable. Middlemen had forced down prices and farmers were being paid less than their production cost, a result of speculative trading, since the existing market and distribution network was working against the interest of the farmers. Feed costs had risen by 250 percent in the past 5 years, whereas egg prices were static at an average of 35 paise. Consumption of eggs was low and the future looked anything but healthy.

My Egg, My Price, My Life ... With no help coming from any quarter, a group of farmers motivated by Dr. B.V. Rao traveled across the country, organizing over 300 meetings with groups, individuals, and traders. Their objective - unite poultry farmers from all over India, and take control of their own destiny. Dr. Rao's call "My Egg, My Price, My Life" consequently brought farmers onto a united platform and realized this objective. May 1982 NECC was formally registered under the Societies Registration Act. In line with its democratic principles, it was registered as a trust and on May 14th 1982 NECC started declaring egg prices. A movement of the farmers, for the farmers NECC is unique in many ways. With a membership of more than 25,000 it is the largest single association of poultry farmers in the world. Most of todays egg production in India comes from NECC members. In the past two decades, NECC has played a significant role for the betterment of the poultry industry in general, and the egg industry in particular, through its various programmes like market intervention, price support operations, egg promotion campaigns, consumer education, market research, rural market development and liaisons with the government on vital issues concerning the industry. A complete voluntary effort by farmers, it has no statutory authority to enforce its declared price, nor does it compel anybody to contribute to its funds. It is based on co-operative spirit and a simple conviction, the right to determine their own selling price. It makes no profits and subsists entirely on voluntary contributions from the members of layer farmers. To acquire the co-operation of all its widely dispersed members NECC uses a 3-tier democratic setup organized in the form of 40 committees around the country. NECC is unique in many ways. With a membership of more than 25,000 it is the largest single association of poultry farmers in the world. Most of todays egg production in India comes from NECC members. 186

In the past two decades, NECC has played a significant role for the betterment of the poultry industry in general, and the egg industry in particular, through its various programmes like market intervention, price support operations, egg promotion campaigns, consumer education, market research, rural market development and liaisons with the government on vital issues concerning the industry. A complete voluntary effort by farmers, it has no statutory authority to enforce its declared price, nor does it compel anybody to contribute to its funds. It is based on co-operative spirit and a simple conviction, the right to determine their own selling price. It makes no profits and subsists entirely on voluntary contributions from the members of layer farmers. To acquire the co-operation of all its widely dispersed members NECC uses a 3-tier democratic setup organized in the form of 40 committees around the country.

SQUASHD - ANU HASAN It was this Tiruchi gal's passion for basketball that pushed her hard to secure a seat in BITS, Pilani. Her life took a hook turn after the completion of her Physics-Management degree at BITS when Suhasini Manirathnam offered Anu the lead role in her movie `Indira.' It was her emotional temperament that helped her carry that role with conviction. "It was a heavy subject for a newcomer. But I was moved by the story line and there were occasions when I was overwhelmed with emotion. Not once did I use glycerine for tearful scenes," recalls Anu. When she was managing her Kolkata-based outsourcing concern, off-screen chances came in the guise of production. It was in `Nala Damayanthi,' a Raj Kamal banner, when she accidentally got involved into production. She reminisces: "Initially, I was just an actor in the movie. When the movie was shot in Australia, the production team planned to hire a helicopter for 3000 Australian dollars. It sounded hell of a lot of money for me." It was then she decided to get into the production front. The Australian yellow pages came in handy for her to hire a helicopter at a nominal rate. Subsequent postproduction responsibilities were showered on her, in which she managed to cut down the costs to barest minimum. "It was a great experience. Women basically are poignant but efficient financial managers," she says. For this selfdriven businesswoman, her new company `Sqaush'd,' is on the top of her agenda. A juices and smoothies company, Squash'd dons Anu's philosophy `It's fun to be healthy.' The chain of parlours emulates yet another healthy concept the employees are women from economically deprived families. "When I employ a woman, I look for attitude and not aptitude," Anu clarifies and continues: "I'm a very informal person and I go by instincts. And the nicest thing is they always stick with me," she says. For Anu, working with women is "fantastic." They are responsible and too sensitive to slip up, she feels. Like her passion for experiments, Anu always carries the `I'm-feeling-adventurous' mood wherever she goes. A scuba diver and bungee jumper, she now looks for opportunity to try out other adventure sports, which she has missed out so far. 187

"I love crazy things. I've been independent from my childhood and have been groomed as such. I believe in hard work and sincerity. We have to make our own plans and execute. There is no third party involved in one's success," she says. Her recent venture into television as an anchor for a celebrity chat show was again accidental. Earlier hosted by `Mirchi' Suchitra, the talk show had Suhasini and Anu as guest for an episode. "A week later, they called me to host the show with the brand new name `Coffee with Anu.' My good old try-itout instinct pushed me into the limelight," she laughs. The talk show brings in two celebrities from the same field and their associates to share their life experiences. "I feel I'm very lucky because I can meet all legends and maestros of various fields under one roof." In her inimitable style of welcoming guests, Anu makes it a point to highlight interesting instances in a celebrity's life. The TRP ratings for this show have shot up since Anu took over, for her sheer sense of humour and instant wit. Playful puppy "It's a feel-good programme. I'm not here to embarrass people with controversial questions. We bring in a personality to talk about him/her as a person." Anchoring such a celebrity talk show is never a cakewalk, she admits. There were times, for her, when the guests were too self-conscious to get into the snug feeling. "An anchor should pick-up the non-verbal messages fast. When I find the vibes of the guests aren't too amiable, then I make them comfortable by sending non-verbal messages telling them I'm just a playful puppy who is going to make them look beautiful," she laughs. A jazz singer too, Anu is all set to launch a new venture a musical theatre at Chennai. "Let me see how the experiment comes through," she parts.

Karsanbhai Patel- NIRMA

Karsanbhai Khodidas Patel (b. 1945, Mehsana, Gujarat) is an Indian industrialist, founder of the Rs. 2500 crore (USD 500 mn) Nirma group with major interests in detergents, soaps and cosmetics. In 2005 Forbes listed his net worth as USD $640 million. He has interests in education, and founded a leading engineering college, the Nirma Institute of Technology. He is sometimes referred to as Dr. K.K. Patel. Life Born into a farmer family from north Gujarat, Karsanbhai finished his B.Sc. in Chemistry at age 21 and worked as a lab technician, first in the New Cotton Mills, Ahmedabad, of the Lalbhai group and then at the Geology and Mining Department of the state Government. In 1969, Karsanbhai set up Nirma, (named after daughter Nirupama) selling detergent powder. This was an after-office business - the one-man company would bicycle through the neighbourhoods selling handmade detergent packets door to door. At a price of Rs. 3 per kg, (one third the price of leading detergents), it was an instant success. After three years, Karsanbhai felt confident enough to quit his job. Later he said: 188

The lack of any such precedent in my family made the venture fraught with fear of failure. But farmers from North Gujarat are known for their spirit of enterprise." Karsanbhai set up shop at small workshop in an Ahmedabad suburb. The Nirma brand quickly established itself in Gujarat and Maharashtra. The high quality and low price of the detergent made for great value. Fueled by housewife-friendly advertisement jingles, Nirma revolutionized the detergent market, creating an entirely new segment in for economy detergent powder. At the time, detergent and soap manufacture was dominated by multinational corporations with products like Surf by Hindustan Lever, priced around Rs. 13 per kg. Within a decade, Nirma was the largest selling detergent in India. Since production was labour intensive, Nirma also became a leading employer (employing 14,000 people 2004). Made without some phosphates, Nirma was also somewhat more environment friendly. After establishing its leadership in economy-priced detergents, Nirma entered the premium segment, launching toilet soaps Nirma bath and Nirma beauty soap, and premium detergent Super Nirma detergent. Ventures into shampoo and toothpaste were not as successful, but the edible salt Shudh is doing well. Nirma beauty soap is one of the leading toilet soaps, behind Lifeboy and Lux. Overall Nirma has a 20% market share in soap cakes and about 35% in detergents. Nirma also has successful operations in neighbouring countries. In 1995, Karsanbhai started the Nirma Institute of Technology in Ahmedabad, which grew into a leading engineering college in Gujarat. An Institute of Management followed, with the entire structure being consolidated under the Nirma University of Science and Technology in 2003, overseen by the Nirma Education and Research Foundation. The Nirmalabs education project, aimed at training and incubating entrepreneurs, was launched 2004. Karsanbhai's two sons and son-in-law are now at leading positions in the Nirma organization[1]: Rakesh K Patel (MBA) looks after procurement and logistics, Hiren K Patel, chemical engineer and MBA, heads marketing and finance, while Kalpesh Patel is in human resources. Awards In 2001, Karsanbhai was awarded an honorary doctorate by Florida Atlantic University, recognizing his exceptional entrepreneurial and philanthropic accomplishments. In 1990, the Federation of Association of Small Scale Industries of India (FASII), New Delhi, awarded him the 'Udyog Ratna' award. The Gujarat Chamber of Commerce felicitated him as an 'Outstanding Industrialist of the Eighties'. He has served twice as Chairman of the Development Council for Oils, Soaps and Detergents. VIJAY MALLYA- KINGFISHER AIRLINES, UB GROUP Vijay Mallya heads a multinational conglomerate that recorded $1.6 billion in sales last year. He has homes around the world. The walls of his Sausalito mansion feature Picasso, Renoir, Chagall, Turner. He has one of the world's foremost collections of classic cars. He is a member of the Indian Parliament, leader of a political party, a player in the fields of media, technology and commerce. But Mallya wants more: big-time American business success. "I want to achieve market leadership in this country, because this represents the biggest challenge,'' Mallya said in an interview in his Sausalito home.

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Mallya thinks he has the products to do it: a "pesticide" that he says will work for organic farmers, and a spray to rid households of dust mites. For Mallya, it's a departure from his core business as India's leading brewmeister. He produces the top brand, Kingfisher Beer, and in the U.S. he is expanding his Mendocino Brewing Co.'s operations. In some ways, it may seem that Mallya, 47, spreads himself fairly thin. He has 26 homes around the world ("I counted once," said Tony Bedi, who runs Mallya's American United Breweries International), including residences in Sausalito, Napa, Trump Plaza in New York, a castle in Scotland, Monte Carlo, and homes in every major city in India, including New Delhi, Bombay, Bangalore, Goa and Calcutta. His antique racing cars number more than 260, stored in 10 countries. He's got two yachts in California, a few in India, the famed Kalizma -- a 165-foot Edwardian yacht once owned by Richard Burton and Elizabeth Taylor and now based in the Mediterranean -- and a 187-foot yacht under construction in Australia. He also owns a Boeing 727 and a Gulfstream jet, and he pilots his own planes and boats, Bedi notes. Yet Mallya is nothing if not a businessman. "I work seven days a week," he says, always plugging in, even while basking in his hedonistic lifestyle. His UB Group encompasses more than 60 companies in six main business lines: alcoholic beverages, engineering and technology, agriculture, life sciences, media, and leisure. Mallya inherited the UB Group from his father, who died of a heart attack in 1983, when Mallya was 27 years old. "He dropped dead at a party," Mallya said. "One week after he died, I was voted chairman and CEO of a public company." At the time, Mallya said, he had a reputation as something of a playboy, but he also had been a keen student of business. Not that he had much choice. "I wanted to be a doctor like my grandfather, " Mallya said. "My father put his foot down and said, 'No, he's going into business.' Did I choose? No, but I came to enjoy it." Mallya was an only child, and his father, part of the first generation of businessmen to achieve success after India's independence, had high hopes for him. "My father was a very strict man," Mallya said. "He was very wealthy, but he brought me up normally. He was a great stickler for performance and hard work." His father made him take a job as a $40 a month store clerk in "the small sleepy town of Shahjahanpur," in the northern Indian state of Uttar Pradesh. "All I had for transportation was a bicycle," he said. "The nearest movie hall was 12 miles away." Mallya hated it, but came to value it later for the character it instilled. He attended university in Calcutta, earned a master's in business in India as well, and earned a doctorate through correspondence from the University of California at Irvine. Today, his contemporaries call him Dr. Mallya. After his schooling was complete, Mallya was living in New Jersey, working for Hoechst, a pharmaceutical firm now known as Aventis, a firm in which his father had a significant ownership stake. At the time, his father was also schooling Mallya in the basics of the UB Group, formed in 1947 when the elder Mallya bought a controlling stake in Kingfisher Beer. "He passed along many responsibilities in 2 1/2 years, as he became more and more confident in my capabilities," Mallya said. 190

Vittal Mallya died when Vijay Mallya was in the United States. The heir quickly applied some American business lessons to the enterprise. "I shrunk the spectrum of businesses tremendously," he said, gradually exiting the processed food business, petrochemicals and plastics, batteries, paints, pharmaceuticals and others. In some cases, he said, he saw multinational corporations coming into India, and he sold out to the competition. For instance, he had a carbonated beverage business, but "I saw Pepsi and Coke coming and I said, 'I'm outta here.' I shut it down." "This concept of competitive advantage, I must give credit to my time in the U.S.," he said. "My first stint in the U.S. really influenced my business life a lot. I looked at things in an American way, and not in an Indian way." He whittled the group from 20 business lines to six, focusing on areas of core competence. He gradually "beautified" the businesses before selling them off. He entered new markets, such as fertilizer, recognizing India's agricultural economy. He boasts that UB has grown from $100 million in sales when he took it over to $1.6 billion today. Kingfisher, the flagship product, was the fourth-selling beer in India when he got the company; today it is the runaway leader, with more than 25 percent market share. Mallya credits marketing for that jump -- with no small credit to his own role. He appears in Kingfisher's ads. "I am the brand ambassador," he said, and, citing Kingfisher's slogan, he added, "I am the 'King of Good Times.' " People who know him vouch for that. "He's a man with money who knows how to spend it," said Dicky Gill, a former race car driver in India. "There are rich people all over the world, but he knows how to enjoy himself." Dilip Massand, who ran a promising dot-com catering to Indian Americans called Masala.com, had a whirlwind negotiation with Mallya one weekend in New York. Mallya was smoking his customary cigar, drinking a beer, living, Massand said, "like a maharaja." "He has a commanding presence," Massand said. "One thing you could see with him was the aura of patronage. ... He was tremendously gracious and generous with his friends. For the time you're with him, it's champagne wishes and caviar dreams. But when it boils down to business, he's a tough dollars- and-cents man." Michael Laybourn, one of the founders of Mendocino Brewing Co., said Mallya helped save his firm, giving it an infusion of capital, acquiring other companies, and providing great synergy by putting it in charge of Kingfisher's American operations. Laybourn remembers one episode in which he shipped the company's newest beer from its brewery in Ukiah to home base in Hopland -- down the Russian River in a raft. "Vijay went along with it. He even left his entourage behind, " Laybourn said. As they floated lazily downstream, Laybourn said, " 'Vijay, do you ever get a chance to calm down and relax like this?' He says, 'Never.' He got a little break there for at least half an hour, but if he had fallen in, he'd have ruined all his little machines." There were some culture clashes when the flamboyant Mallya took over the hippie-like Mendocino operation. India's class system was hard to swallow. "People working for him from India are right there all the time, anytime 191

he clicks his finger, and he doesn't have to describe why," Laybourn said. "Certainly he's a member of the ruling class." Mallya sometimes can still cause a stir in the microbrew industry, but generally, as with most of his businesses, he lets his delegates run the operation. Mallya is something of a celebrity in India. His homes appear in society magazines. His name makes bold type in gossip columns. Everything that happens to him seems to generate news -- like the time this past summer when his helicopter crashed. (It plunged 150 feet straight down, but no one was killed, and Mallya walked away unscathed. "The message is from above," he said. "I have a second life.") By the time of the crash, Mallya had already embarked on his political career. He is a member of Parliament, and leads the Janata Party. His goal is to empower India's vast population of youth. His pitch is: "I'm a wealthy man. ... Therefore, my government will not be corrupt." He wants to toss out the old leaders, and establish term limits. His party is small now, but in videos he is seen flashing a "youth power" sign, making a "V" with his fingers as throngs of people cheer him in the streets. In his political ventures, Mallya starts addressing the seeming disconnect between his wealthy lifestyle and the teeming poverty often associated with India. "Rajiv Gandhi, the former prime minister of India, once said that only 10 percent of what is allocated for rural development reaches the people, and the other 90 percent is lost to corruption and inefficiency," Mallya said. "We are not a poor country. ... We are among the top five industrialized nations in the world. We have huge natural resources. We have a vibrant agricultural economy and among the lowest cost of agricultural production in the world. We have huge food surpluses. In the high-tech fields of information technology and software development, we are world-beaters. "Why is India still referred to as a poor country? Because the billions allocated to the poor don't get to the poor. It's a big challenge," he said. "It's all a question of management and discipline." Mallya initially got into agriculture by taking over a state-run fertilizer business and restoring it to profitability. Now he intends to get into the organic market with SoluNeem, a pesticide made from India's neem tree that may be used in organic food production. It may be a shrewd move, as the Organic Trade Association reports 57 million acres around the world are in organic production, with demand for organic products increasing to $23 billion. But it's not without competition. The Organic Materials Review Institute notes at least 11 other neem pesticides on the market, and says others have run into problems trying to become water soluble while not changing the chemical makeup into something that would be prohibited on an organic farm, which is a great achievement to Vijay Mallya

Ardeshir Godrej- FOUNDER GODREJ GROUP

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Ardeshir Burjorji Sorabji Godrej (1868-1936) was the inventive half of the Godrej Brothers Company, the precursor of the Godrej Group of companies. Early years Ardeshir was born in 1868 as the first of six children to Burjorji and Dosibai Gootherajee. The Gootherajee's were a wealthy Parsi-Zoroastrian family of Bombay (now Mumbai), and Ardeshir's father Burjorji and grandfather Sorabji dealt in real estate. In January 1871, his father had the family name changed to Godrej. In 1890, Ardeshir married Bachu (Bachubai), who had just turned eighteen. On April 25th, 1891, Bachubai and Ardeshir's a second cousin Pirojbai Sohrabji Kamdin decided to climb to the viewing platform of the 85 meter high Rajabai Tower. At the top, one or two miscreants accosted them. According to legend, rather than give into their demands, the two good-looking women jumped. Both lost their lives. Ardeshir rarely spoke of his loss, nor did he ever remarry. Ardeshir and Bachubai had no children. In 1894, Ardeshir, fresh out of law school, was hired by well-known firm to argue a case on a client's behalf in Zanzibar. The details of the case are not known, but according to his biography, it went well until towards the end, when Ardeshir refused to acknowledge (before the court) that his client had visited a particular place because there was no hard evidence that he had done so. As Ardeshir would later say, it required him to make an assumption that he could not with a good conscience make, and would thus be wrong. Not allowing himself be convinced, the client had to find a replacement, and Ardeshir returned to Bombay and gave up the law altogether. As Ardeshir would later recall, "instead of seeing my side of the case, I saw both sides, the plaintiff's as well as the defendant's. In this divided state of mind, I realized I'd make a very poor lawyer, whichever side I took." (Karanjia, 2001) [edit] Machinist and engineer Upon returning to Bombay after the Zanzibar debacle, Ardeshir was employed at a pharmacy, where he served as an assistant to the chemist. In 1895, Ardeshir visited Merwanji Muncherji Cama, a friend of his father's, and who was highly respected for his business acumen. Ardeshir described his plan to manufacture surgical equipment and asked for a loan. When Cama asked why Ardeshir did not approach his father for the loan, Ardeshir replied that his father would give him the money not as a loan but as a gift, which Ardeshir was not willing to accept. This principle to not accept money as a gift would also become evident in 1918, when his father died: Ardeshir refused to accept the inheritance. With 3,000 Rupees (1895: 18,000 US$) from Cama, Ardeshir began manufacturing "scalpels, forceps, pincers, scissors and the other implements of a surgeon's trade." When he was satisfied that the product fulfilled the necessary specifications, he asked for a meeting with the proprietor of the company he worked for, who, when they met, profoundly congratulated him on his accomplishment. But when Ardeshir insisted that the product be stamped "Made in India", the proprietor rebuked him: "you may be a first-class machinist, but we are discussing marketing here. Please don't misunderstand. I have high regard for your country. Now had this been, say, an Indian antique, I'd have said by all means blazon it in bold type as 'Made in India'. But surgical instruments, no way!" Both sides were intractable, and the venture died. One morning Ardeshir read an article in a daily newspaper on the rise of burglary incidents in the city and in which the commissioner of police called for better security of homes and places of business. Ardeshir grasped that a better lock was needed, and began to research the subject. He soon discovered that the locks made in India were all fashioned by hand, a labor intensive and inefficient means of manufacture, and Ardeshir resolved to manufacture a lock that would be guaranteed "unpickable". Calling on Merwanji Cama again, Ardeshir apologized for his inability to repay the loan immediately, but went on to describe his plans for the new lock-making venture. Cama was interested, as he too had read the article, and promised to raise the necessary capital. When Ardeshir rose to leave, Cama asked him, "Tell me, are there other 193

lock-makers in our community? Or, are you the first?" Ardeshir replied, "I don't know whether I'm the first or not, but I'm certainly determined, with the help of a benefactor like you, to be the best." (Karanjia, 2001) With Cama's funds in hand, Ardeshir set out to revolutionize the Indian lock-manufacturing industry. In a 20 m (215 ft2) shed next door to the Bombay Gas Works, with forty steam presses and a dozen skilled workers he had sent for from Gujarat and Malabar, production began on May 7th, 1897. Ardeshir began with the manufacture of high security locks under the Anchor brand - to which he attached a guarantee of "unpickability". Only later did he begin production of simpler and cheaper tumbler locks, to which he attached a note that their security was not guaranteed. The notes that he attached to the locks also attempted to clear up any misconceptions about the number of levers as he put it, a well made four-lever lock was infinitely more secure than a poorly made eightlever lock. In addition, he guaranteed that each key/lock pair was unique, and that no key except those delivered with the lock would succeed in unlocking the device. A few years later, Ardeshir patented the first of his inventions, a lock that would subsequently be called a "Gordian Lock". It came with two keys, both of which could lock and unlock the device, but the second key could be also be used to modify the inner workings of the lock and so render the first key useless. Shortly thereafter, Ardeshir developed a lock based on Jeremiah Chubb's 1818 "Detector Lock" design, which, as the name suggests, made the owner aware of attempts to use an incorrect key. When one attempted to do so, a bolt was thrown that could only be released with the correct key, and only if the key was first turned as if to unlock the lock. Like Charles Chubb's patent of 1824, the Godrej lock didn't need a special "regulator" key to restore functionality. In a small booklet that Ardeshir published and often distributed himself, he claimed "the work is done on modern methods, with the aid of modern machinery with which the factory is equipped throughout at a very large outlay. We do not buy our locks or any safe parts ready-made, but we manufacture all our requirements ourselves. We have a large number of specially trained lock-makers having over 15 years of practice. This enables us to make our locks as accurately as those by the best European makers. Our keys are all deep-forged and machine-cut and not filed out by hand. We cut the keys first and make the locks to fit the keys. This makes our locks absolutely unpickable and ensures long wear." In 1901, Ardeshir turned to experimenting with safes. Ardeshir resolved to build a safe that was not only burglarproof, but fireproof as well, which as he determined, most safes were not. Ardeshir made dozens of designs on paper and held innumerable discussions with his engineers and craftsmen, until it was finally determined that the only way to ensure security and stability was to make the safe out of a single sheet of steel. The resultant design had altogether sixteen bends, each side of the cross-shaped sheet being folded forward and then being folded twice more (inwards) to form the front door frame. Joints were welded, not riveted, and the coffer was covered by a second sixteen-bend sheet offset to the first by 90 degrees. The door was double plated, with the lock and hinges attached to the inner plate and the joints covered by the outer plate. The total weight was 1 tons. Altogether three patents covered the Ardeshir design. The first safes entered the market in 1902. In July 1908, Ardeshir with his brother Pirojsha applied for and were granted (in October 1909) a British patent for the world's first springless lock. Until then, the levers in the locks were pushed into their resting place with springs, which were prone to dirt and breakage, that when jammed or broken, left the levers in an open position. Moreover, the varying resistance of the levers aided a skilled burglar that attempted to pick the lock. The springless lock, which in the patent certificate is attributed to Pirojsha, brought the brothers a fortune. Around 1910, Ardeshir planned a trip to England, France and Germany in order to study the lock-making efforts of his competitors. Shortly before he left, Ardeshir visited Merwanji Cama again, this time to repay him for his 3,000 Rupee loan of so many years before. Cama was seriously ill, and refused to accept it, since as Cama put it accepting the money would deprive him of the joy he felt in having contributed to Ardeshir's success. Cama did however have a favor to ask: would Ardeshir hire Cama's nephew Boyce? "I can never say no to you," Ardeshir answered. "Maybe, we'll make him a partner." True to his promise, Ardeshir and Pirojsha did make Boyce a partner, and the company was renamed Godrej & Boyce Manufacturing Company. But Boyce didn't have an 194

interest in the company, and soon after Ardeshir returned from his European travels, Boyce himself suggested that he leave the company. The name 'Godrej & Boyce Mfg. Co.' was retained. In England, Ardeshir visited the Chubb factory in Wolverhampton, since Chubb, together with Milner, had the exclusive rights to export security equipment to India. Ardeshir was made to feel welcome, and given a guided tour of the manufacturing facilities, giving Ardeshir the chance not only to observe how his competitor did things, but also to determine weaknesses in their products. Ardeshir made copious notes, and upon returning to Bombay, implemented many of the methods he observed on his European tour. While he had been away Pirojsha had doubled the size of the factory, which now employed 600 people. Following his trip, Ardeshir continued experimenting with safes, and the business took off following the San Francisco earthquake, where the subsequent fire caused more damage than the earthquake itself. Following the publication a subsequent article in Scientific American (May 26, 1908) that revealed that most safes were in fact not fireproof, Ardeshir held a public demonstration to prove that the safes would protect the contents in the advent of a fire. The demonstration was a resounding success, but it would not be until the Calcutta Dharamtalla Street fire of April 1925 when the safes demonstrated their worth in that conflagration. The supreme test came in 1944, eight years after Ardeshir's death. The fires that resulted from an ammunition explosion at Bombay's Victoria docks raged for days, and the loss of life and property was enormous, but the contents in many of the Godrej safes survived, including one belonging to a bank. On May 1, 1928, Ardeshir transferred sole ownership and control of the company to his brother Pirojsha. He then moved to Nasik, 185 km north of Bombay, to try his hand at farming. Although that venture was unsuccessful, Ardeshir did not cease to be the inventor. When his attention was drawn to the fact that all soaps in the world contained tallow and other animal fats (inappropriate to many stringently vegetarian Hindus), he found a method to manufacture soap from vegetable oils, a procedure that everyone told him was impossible. Ardeshir Godrej died in January 1936. Ardeshir and the Independence Movement Around 1909 Ardeshir read an article by Dadabhai Naoroji on the impoverishment of India through unfair trade practices and excessive taxation levied by the colonial authorities. His interest roused, Ardeshir applied to the J. B. Petit library for more material and obtained a transcript of a speech that Naoroji had made in 1876 while municipal councillor in Bombay. In the paper, Naoroji established that although India has a positive trade balance, the taxes that the colonial authorities levied consumed the advantage, leaving virtually nothing that could be invested. Ardeshir was incensed and resolved that if India was ever to be independent, it would have to develop a local industry that was economically self-reliant. For Ardeshir, independence could not be achieved by simply boycotting British goods. Moreover, he "propagated the philosophy that every country, India or any other, had to choose its technology, production, consumption habits and marketing techniques depending on its resources and based on its genius" and that no country had the right to "coerce another to export its techniques, production and marketing systems." (Karanjia, 2001, preface) Ardeshir was however not willing to accept that consumers should favor indigenous products just because they were indigenous. In an interview published in the Indian National Herald on April 27th, 1927, Ardeshir was bitterly critical of the leaders of the Swadeshi movement who encouraged the acceptance of domestic products even if these were of substandard quality. In his opinion, there was absolutely no valid reason why Indian goods manufactured in India could not be as good or better than those that were imported, and the encouragement to accept substandard goods was simultaneously the reinforcement of the idea that products made in India were automatically of lower quality than those manufactured abroad.

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Ardeshir found the passivity of Gandhi's non-violence movement exasperating and insisted that India could become independent only if it actively made itself independent, and that self-reliance (Swadeshi) could only be achieved when accompanied by mental self-reliance, that is, self-respect.

Larsen & Toubro

Larsen & Toubro Limited is India's largest engineering and construction conglomerate, with diverse interests such as construction, hydraulic equipment, electrical and electronic power services, fertilizer projects, medical electronics and information technology. It generates almost 85% of its revenue from the construction business. Founded in 1938, the company is headquartered in Mumbai, India. Larsen & Toubro History The name is derived from its two founders, Danish citizens who settled down in India. The evolution of L&T into the country's largest engineering and construction organizations is among the more remarkable success stories in Indian industry. The company was founded in (Mumbai) in 1938 by two Danish engineers, Henning HolckLarsen and Soren Kristian Toubro - both of whom were strongly committed to developing India's engineering talent and enabling it to meet the demands of industry. Beginning with the import of cement machinery from Europe, L&T rapidly took on engineering and construction assignments of increasing sophistication. [edit] Indian multinational In line with its strategy of aligning capabilities to meet emerging trends, L&T recently initiated a transformation process internally to ensure that it emerges as a knowledge-based Indian multinational. Over the years the company has created the necessary infrastructure for its global initiative with office locations in USA, Europe, Middle East and Japan. The customer profile of the Engineering Construction & Contracts Division of L&T includes leading names such as Samsung, Chevron, Bechtel, Kvaerner, Pirelli, Siam Michelin, Goodyear etc. Larsen & Toubro Infotech Limited (L&T Infotech), is a 100% subsidiary of Larsen & Toubro Limited and focuses on information technology and software services. Larsen & Toubro EmSyS ([2]), is also a subsidiary of Larsen & Toubro Limited working on the domains of embedded systems and software. Awards

SGCCI Golden Jubilee Memorial Trust Award for outstanding performance in Export of Engineering Goods for 2004-05. This Award highlights L&T's export of high-tech, custom-built equipment worldwide. Greentech Safety Awards (2005) by the New Delhi-based non-profit organisation, Greentech Foundation, for the effort in industrial safety and environmental management. Ethics is Good Business award from the New Delhi based PHD Chamber of Commerce & Industry (PHDCCI). India Manufacturing Excellence Award from Frost & Sullivan, 2004.

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Environment Excellence Award 2003-04, Greentech Foundation. Businessworld's survey on "India's Most Respected Companies", ranked L&T first in infrastructure sector. L&T won the "Most Respected Company" award in this sector. A. M. Naik, Chairman and Managing Director of L&T, was honoured with the Executive of the Year Award 2004 by Indian Association of Secretaries & Administrative Professionals (IASAP) in 2004.

Forbes Global 2000 Ranking - 2006 The Forbes Global 2000 list for the year 2006 ranked Larsen & Toubro at 1380 [1].

NALLI KUPPUSWAMY CHETTIAR- NALLI SILKS

Dr Nalli Kuppuswami Chettiar enjoys a brand equity in the silk trade that is without peer. Nalli Kuppuswami was born in 1940, the only son of Nalli Narayanaswamy. This family of weavers originally belonged to the Padmasaliyar community in Andhra Pradesh. Most of them migrated in the 15th and 16th centuries to settle down in Kancheepuram. The business was started in Chennai in 1928, at the residence of Nalli Chinnaswami Chetti (Nalli Kuppuswami's grandfather) and shifted to its current location at Panagal Park in 1935. Nalli Kuppuswami was forced to rule out college education once his father died (in 1953) and he had to run the business under the stewardship of his uncle Nalli Rangaswami Chettiar. He took full charge in 1961 and since then has made the enterprise a multi-crore empire that includes showrooms and looms across the region. His work approach is characterised by win-win equations that he nurtures with both employees and customers. His concept of reviving old designs for silk sarees and presenting them in new forms has met with phenomenal success. So has his strategy of appealing to popular culture through film-inspired naming of designs. The World University Round Table, Arizona, conferred on him a Cultural Doctorate in Human Resource Management. He is also President of the voluntary social service organisation - Sneha and plays an active role in the promotion of the performing arts through Mylapore Fine Arts and Krishna Gana Sabha. Nalli Kuppuswami has been closely associated with the Tamil Chamber of Commerce, serving the organisation in the capacity of President and Vice-President across different tenures. He is also author of the books 'Work is Worship', 'How to build up Business' and 'The Commercial World'. Among his contributions to the weaver community are his involvement with the Tamil Nadu Padmashali Sangam (which he established), the All India Padmashallyula, the All India Padmashali Maha Sabha and the Madura Banaras Swadeshi Cloth Merchants Association.

Hrishikesh Mafatlal, Vice Chairman & CEO, Arvind Mafatlal Group The man is in full flow. "There's only one God who is the Supreme Controller of Controllers. We are part and parcel of God, though the divinity within us is only in a minute quantity... He 197

is the enjoyer. We are the enjoyed." This discourse, delivered in the pleasantly appointed conference room of Mafatlal Industries, would have seemed incongruous but for the fact that it represents the heart and soul of Hrishikesh Mafatlal. In his business avatar he controls the fortunes of the giant petrochemical company, NOCIL, as well as various mills in the country. In his spiritual mode, he is the ardent disciple of Srila Prabhupada, the founder of ISKCON. "Between '82-84 my family went through a series of crushing problems. The textile strike called by Datta Samant had closed all our mills, and we found ourselves cheated by many trusted associates. Our relatives deserted us in droves, convinced that we were finished. At this juncture, I began frequenting the ISKCON discourses held at my brother-in-law's place, a devotee. I found them all to be my sincere well wishers. They had no ulterior motive in associating with me. I may have come from an industrialist home but they treated everyone the same. After my recent experiences, this was a relief. I was also startled to find the devotees to be young, well educated and rational, unlike the elderly swamis I had been used to. It was possible to engage in a dialogue about the nature of God or death or the meaning of rituals."

His attitude towards business, like everything else in life, is centered on the existence of God. "Each of us has a responsibility to God which is paramount. I have been born into the Mafatlal family for some reason and I must discharge my duty towards it. I will do my best for Mafatlal, but I will do it in a way that fulfills my responsibility to God as well. "We may be from different backgrounds, rich-poor, ugly-beautiful, but no one is superior to the other. We are all equal Whether I travel by a Mercedes or the second-class compartment of a local train makes no difference to that central fact." This understanding of the essential equality of all beings has made him more tolerant. "Earlier I used to compartmentalize people as friends and enemies. Now I don't lose sleep over a difference of opinions or approaches. "My needs have become highly simple. As an industrialist I have an obligation to increase my company's value, but the key question is, for whom am I generating the wealth? If it were for me alone, it would go into a Rs 50lakh Mercedes, a 5-crore yacht and so on. But would I be happier? If the real pleasure of life is at the level of the spirit-soul, then our joy is rooted in selflessness, in making others happy, in performing devotional service. My business is centered around God." Continues Mafatlal: "I see my employees as human beings However, in a competitive business we must regulate certain norms such as excellence of performance. People have to perform, but even if I have to give them bad news I do it honestly and openly, and try to be as fair and gentle as possible. Right now, industry is going through a very bad phase. In the last two years, 200 to 300 mills have closed down. So we have had to make some hard choices...

"But I do try and promote a harmonious work culture I discourage politicking. Team spirit is critical. And I ensure basic services such as cleanliness within the workplace as well as good and nutritious food in the canteen. I often have the same food just to keep a check on quality. I also try and be aware of victimization. In pleasing the boss, many are unfair on their subordinates. There have been times when we have let a senior man go."

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Mafatlal is disturbed by liberalization. "It has made the situation very difficult. And I believe that we are not taking into account the fact that there are 700 million people living in the villages of India. What about their welfare? Our policies are urban oriented and controlled by the West." Despite the turbulence, he considers himself a happy man. "I have lots of weaknesses but I find that I'm more honest and straightforward with people. Life is much less stressed. I've never had a problem with sleep. People ask why I don't react when things go wrong, but I don't have to demonstrate my feelings." His family is a source of joy and support to him. "My wife is my greatest influence," he says. "In her conduct she is much more spiritual than I am. She speaks her mind out often and chides me when I expect her to be superefficient. 'I'm not your secretary, I'm your wife,' she says. I appreciate such openness because it creates an authentic relationship, which is wonderful. I cannot imagine going home and experiencing tension. And my three children-they are wonderful human beings." That, for this businessman, is the bottom line.

Wadias- BOMBAY DYEING The Wadia family is an old Parsi family originally based in Surat. Lovji Nusserwanjee Wadia began the Wadia shipbuilding dynasty in 1736, when he obtained a contract from the British East India Company for building docks and ships in Bombay (present-day Mumbai). Although the Wadia's would eventually come to be considered a Bombay family, many of them remained in Surat, where one branch of the family established a break-up port (where ships are dismantled) that remains one of the largest of its kind in the world. By the 1840s the family was one of the leading forces in the Indian shipbuilding industry. By that time they had built over a hundred warships for the British and had trading networks around the world. The Star Spangled Banner, the national anthem of the United States, was written in 1812 on a Wadia built British Navy ship, the HMS Minden. A Wadia did not visit the United States until 1849, when Ardeshir Cursetji Wadia also became the first Parsi to do so. Nusli Wadia is an Indian Parsi entrepreneur, and an important figure in the Indian textile industry and real-estate business.

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Nusli Wadia is the son of Neville and Dina Wadia, and the grandson of Mohammad Ali Jinnah, founder of Pakistan. He is the chairman and majority owner of Bombay Dyeing, a major Indian textile company, and has vast holdings in real estate across Mumbai. He is married to Maureen Wadia, who heads Gladrags Magazine and is one of the forces behind the Miss India beauty pageant. Their son, Ness Wadia, is managing director of Bombay Dyeing. Nusli Wadia is a member of the Wadia family, and a direct descendant of Lovji Nusserwanjee Wadia, Sir Cowasji Jehangir (Readymoney) and Dinshaw Maneckji Petit, as well as a distant relative of JRD Tata. The Spring Mills began operations in 1903 Emerging opportunities : With the wave of industrialization in the 19th century, trading grew, and with it, opportunities for new areas of business. In 1879, Bombay was next only to New Orleans as the world's largest cotton port. It was at this time that Nowrosjee Wadia set his sights on India's mushrooming textile industry. On August 23rd, in a humble redbrick shed, he began a small operation. Here, cotton yarn spun in India was dip dyed by hand in three colors-turkey red, green and orange-and laid out in the sun to dry. Humble opportunities : The Bombay Dyeing & Manufacturing Co. Ltd. had been born. A modest beginning for a company that was to grow in the following 115 yr. into one of India's largest producer of textiles. Along the path of growth and diversification, Bombay Dyeing has spawned dozens of other companies. In technical and financial collaboration with world leaders, such companies have pioneered the manufacture of various chemicals and have grown to be leaders in their new fields. It was more than just a company that was born in 1879, a legacy was born. A legacy that would give rise to one of India's most respected business houses.

LALA JUGGILAL SINGHANIA RAYMOND Years ago, when the Singhania family was building, consolidating and expanding its various businesses in Kanpur, one Mr. Wadia was in a similar manner setting up a small woollen mill in the area around Thane creek, 40 kms away from Bombay. The Sassoons, a well-known industrialist family of Bombay, soon acquired this mill and renamed it as The Raymond Woollen Mills. Around the same time, the Singhanias aimed to broaden their business horizons. The family's sharp business foresight led to the acquisition of The Raymond Wollen Mills. When the grandson of Lala Juggilal, Lala Kailashpat Singhania took over Raymond in 1944, the mill primarily made cheap and coarse woollen blankets, and modest quantities of low priced woollen Fabrics The vision and foresight of Mr. Kailashpat Singhania greatly helped in establishing the J.K. Group's presence in the western region. Under his able stewardship, Raymond embarked upon a gradual phase of technological upgradation and modernization; producing woollen Fabrics of a far superior quality. Under Mr. Gopalakrishna Singhania, the mill became a world-class factory and the Raymond brand became synonymous with fine quality woollen Fabrics When Dr. Vijaypat Singhania took over the reins of the company in 1980, he injected fresh vigour into Raymond, transforming it into a modern, industrial conglomerate. His son Mr. Gautam Hari Singhania, the present chairman 200

and managing director has been instrumental in restructuring the group. With the divestment of its non-core businesses, the group has emerged stronger, with a more focused approach. Today, with a 31 million-meter capacity in wool & wool-blended fabrics, Raymond commands an over 60% market share in worsted suiting in India and ranks amongst the first three fully integrated manufacturers of worsted suiting in the world. We are perhaps the only company in the world to have a diverse product range of nearly 20,000 design and colours of suiting fabric to suit every age, occasion and style. We export these to over 50 countries, including USA, Canada, Europe, Japan and the Middle East. A 100% subsidiary of Raymond Ltd., Raymond Apparel Ltd. (RAL) ranks amongst India's largest and most respected apparel companies. We bring to our customers the best of fabric and style through some of the country's most prestigious brands- Manzoni, Park Avenue, ColorPlus, Parx, Be: and Zapp! and Notting Hill. Even as the brand keeps evolving through its cuts, styles, apparels and collections, one thing has remained unchanged over time is the unrelenting pursuit of excellence! Vijaypat Singhania is the chairman emeritus of the Raymond Group of clothing and textiles. He is also the current Sheriff of Mumbai, since December 19, 2005. A keen aviator, Singhania holds the world record for highest altitude gained traveling in a hot air balloon. The strange thing is that he has done this at the age of 67. He also has another world record to his name, a solo flight in a microlight from the UK to India in 1998. He is succeeded by his son Gautam Hari Singhania who took over as the Chairman and Managing Director of Raymonds in September 2000. Singhania has a flight experience of over 5,000 hours. In 1994, he won the gold medal in the Federation Aeronautique Internationale air race covering a distance of 34,000 km spanning 24 days. To mark this occasion he was conferred the rank of Hon. Air Commodore of the Indian Air Force by the then President of India, Ramaswamy Venkataraman at Vigyan Bhavan in New Delhi. In 2006, he was awarded Padma Bhushan, the third highest civilian award by the Government of India. In March,2007 he was nominated as Chairman of the Governing Council, IIM Ahmedabad succeeding N.R. Narayana Murthy Group Companies Raymond Ltd. Raymond Ltd. is among the largest integrated manufacturers of worsted fabrics in the world. Raymond Apparel Ltd. Raymond Apparel Ltd. has in its folio, some of the most highly regarded apparel brands in India Manzoni, Park Avenue, ColorPlus, Parx, Be: and Zapp!. ColorPlus Fashions Ltd. ColorPlus is among the largest smart casual brands in the premium category. The company was acquired by Raymond to cater to the growing demand for a high end, casual wear brand in the country. Silver Spark Apparel Ltd. A garmenting facility manufacturing formal suits, trousers and jackets. Everblue Apparel Ltd. A state-of-the-art denim garmenting facility. Celebrations Apparel Ltd. A facility set-up for the manufacture of formal shirts. J.K. Files & Tools A leading player in the engineering files & Tools segment and the largest producer of steel files in the world. Ring Plus Aqua Ltd. A leading manufactures in the engineering automotive components. J.K. Helene Curtis Ltd. A leading player in the grooming, accessories and toiletries category. 201

J.K. Investo Trade (India) Ltd. JKIT is an investment company registered with Reserve Bank of India as Non-Banking Financial Company. Joint Ventures Raymond UCO Denim Pvt. Ltd. The manufacturers and marketers of denim fabrics.. Raymond Zambaiti Pvt. Ltd. A Greenfield facility manufacturing high value cotton shirting. Raymond Fedora Pvt. Ltd. A plant set up to manufacture carded Woollen fabrics and blankets. Gas Apparel Pvt. Ltd. Joint venture with Grotto S.p.A will launch the highly successful 'GAS' brand in India. J.K. Ansell Ltd. The manufacturers and marketers of KamaSutra condoms and surgical gloves. J.K. Talabot Ltd. Joint venture with MOB Outillage SA, manufacturing files and rasps for international markets.

Rama Prasad Goenka- CEAT, SAREGAMA, SPENSORS DAILY, LANDMARK, MUSIC WORLD
Knowledge, expertise and wisdom, amassed over one hundred and eighty-five years. These in a few words, are the core elements that form the very substance of one of Indias largest industrial housesRPG Enterprises. The legend is born In 1820, Mr Ramdutt Goenka established the first RPG business in Calcutta. By the turn of the twentieth century, the business had diversified into banking, textiles, tea and jute. The phenomenon grows RPG Enterprises was established in 1979, by Mr R P Goenka. Today, it is the fastest growing industrial group in India, enjoying a turnover of nearly US $1.6 billion (Rs 7,206 crores), possessing assets worth US $1.8 billion, enjoying a presence in seven diverse domainsRetail, IT and Communications, Entertainment, Power, Transmission, Tyres and Life Sciences. Backed by strong values RPG spells Respond, Perform, GrowRespond to business opportunities and harness the finest resources. Perform by inspiring people to come together and work as a team. And Grow to be successful. The RPG Group's business origin can be traced to 1820, when Mr. Ramdutt Goenka, arrived in Calcutta from Dundlod, in Rajasthan, India, to do business with the British East India Company. Along with his brothers and sons, he acquired several profitable agencies. By the turn of the twentieth century, his business had expanded rapidly with significant diversification in banking, textiles, jute and tea. For their outstanding contribution to Indian business and community services, the British conferred Knighthood on Sir Hariram Goenka and Sir Badridas Goenka. They became prominent leaders of the Marwari community of Calcutta and held sway in business communities throughout India.

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Sir Badridas Goenka played an important role in public life and national politics. In 1933, he became the first Indian to be appointed Chairman of the Imperial Bank of India, now known as the State Bank of India. In 1945, he was elected President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

Sir Badridas Goenka The successful streak of entrepreneurship continued with Keshav Prasad Goenka, son of Sir Badridas Goenka. He managed to steer his companies through the preand post-independence era and in the 1950s, embarked on a course of expansion and diversification at an escalating tempo. Keshav Prasad Goenka acquired the two British trading houses, Duncan Brothers and Octavius Steel.In the early 1960s, he promoted three companies in the automobile tyre industry namely Phillips Carbon Black and acquired several others.By the end of 1970s, when he progressively retired leaving the management of his

Keshav Prasad Goenka business to his three sons, he had acquired substantial interests in tea, automobile tyre, jute, cotton textile and electric cables. Like his father, he played an active role in public life. He held the position of President of FICCI in 1965, and became a director of Indias central bank, the Reserve Bank of India, a position later held by his son Rama Prasad Goenka, better known as RP Goenka. In 1979, the fortune owned by Keshav Prasad Goenka was shared amongst his three sons. From owning four companies; Phillips Carbon Black, Asian Cables, Agarpara Jute and Murphy India, with a turnover of Rs 75 crore, RP Goenka, led the group to what it is today: a Rs 7,472 crore company (US$ 1.65 billion), with more than 20 companies in 7 different business sectors. With razor sharp business instincts, RP Goenka excelled in buying and selling companies. His first purchase was CEAT Tyres of India in 1981. In the 1980s, this takeover specialist acquired KEC (1982), Searle India (1983, later renamed RPG Life Sciences), Dunlop (1984), Rama Prasad Goenka HMV (1988), and finally in 1989,CESC, Harrisons Malayalam, Spencer & Co. and ICIM. In 1990, he entrusted the management of the group to his two sons, Harsh and Sanjiv Goenka. RP Goenka became Chairman Emeritus, Harsh Goenka Chairman and Sanjiv Goenka Vice-Chairman of RPG Enterprises.

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Each member of RPG Enterprises values these principles greatly, and is committed to the highest standards of ethics and integrity. It is because of these values that RPG is today one of the most respected groups in the Indian industry. Committed to Quality RPG Enterprises continually strives to improve its processes and products. The company ensures Qualityin relationships with customers and in the services it provides across all its business domains. Driven by a team of leaders RPG Enterprises is managed by the board headed by Mr R P Goenka, Chairman Emeritus, Mr Harsh Goenka, Chairman and Mr Sanjiv Goenka, Vice-Chairman. The board comprises highly qualified and experienced professionals who possess in-depth knowledge of their fields. Together, these leaders have pioneered path-breaking initiatives, and propelled RPG Enterprises to sterling heights of success. Giving back to society with both hands At RPG Enterprises, we are dedicated to developing society. Our endeavours include promoting art and sports and supporting artists and sports people. MILE STONES IN RPG GROUP 2003 RPG crosses the 7000 cr turnover mark reaching 7472 Cr in sales. 2001 'Giant' hypermarkets is established. 2000 International Computers India Ltd (ICIL) becomes Zensar Technologies Ltd. 1999 Searle India becomes RPG Life Sciences. Foodworld is established. 1997 MusicWorld and Health & Glow are formed. 1996 RPG Netcom is established. 1995 RPG Cellular commences its operations. 1989 Harrisons Malayalam Limited, Spencers, CESC Limited, Raychem RPG (formerly Raychem Corporation) and Zensar Technologies (formerly ICIL) are acquired. 1988 204

HMV (His Masters Voice) is acquired. 1985 Saregama India (formerly the Gramophone of India Ltd) is acquired. 1983 RPG Life Sciences (formerly Searle India) is acquired 1979 Inception of RPG Enterprises by Mr. RP Goenka, a Rs. 700 million group, which comprises Phillips Carbon Black, Asian Cables, Agarpara Jute and Murphy (India). AROON PURIE- INDIA TODAY Aroon Purie is an Indian businessman, and the founder & editor in chief of India Today, a leading newsmagazine of India. He has served as editor of the magazine since founding it in 1975. India Today is printed in several languages other than English. India Today magazine was IN TRUTH started by Aroon Purie's father, V.V.Purie and his sister Madhu Trehan. Aroon Purie had nothing to do with it until he took it over two years later when his sister returned to the United States and they couldn't keep any editor they hired. A chartered accountant, Purie first revived Thomson Press. He then set up Living Media to publish India Today, which has redefined magazine journalism in the country. The India Today group which has grown out of the magazine, is one of the largest media conglomerates in India. The magazines run by the India Today are: *India Today English

India Today Spice India Today Home Business Today India Today Hindi India Today Telugu India Today Tamil India Today Malayalam India Today Bengali Golf Digest (Indian Edition) Cosmopolitan (Indian Edition) India Today Travel Plus Design Today Harvard Business Review (Indian Edition) Today (A afternoon tabloid in Delhi)</nowiki></nowiki>

Along with this, the group also comes out with several supplements for all their magazines. New magazines, including one called 'Wealth Today' are also on the anvil. Apart from a number of publications, the group also controls TV Today, which owns the popular Hindi news channel Aaj Tak in December 2000. TV Today, whose CEO is G Krishnan is a listed company whose shares are traded on the Bombay Stock Exchange and National Stock Exchange. Other than Aaj Tak they also run three other channels - 'Headlines Today' an English language news channel, which has not been able to dent the lead of channels like NDTV, 'Tez' a snappy-format news channel, using a concept borrowed from CNN Headline News but in Hindi and Aaj Tak Dilli a local news channel for Delhi. A Business news channel in collaboration with Bloomberg is also expected shortly.

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Aroon was educated at the Doon School, as were two editors of India Today (Suman Dubey and Inderjit Bhadwar). He earned a BSc Economics from the London School of Economics in 1965. He is married to Rekha Purie,a former model. He has 3 children, Kalli Purie, Koel Purieand Ankur Purie. His brother-in-law is the famous heart surgeon, Dr. Naresh Trehan. THAPAR GROUP- CROMPTON GREAVES INDIA LTD The Thapar group was started by Karam Chand Thapar, till the 70's and the early 1980s it was one of the top 10 business houses of India. Karam Chand Thapar died in 1963, and his eldest son L.M. Thapar took over the group, which then included the Oriental Bank of Commerce, as well as Oriental Insurance. Both these companies later got nationalised .Other Thapar group companies and concerns in India are or were ,The Pioneer , Thapar house on Janpath lane, Tiger Bay restaurant, Global Green. The Crompton Greaves [5], Greaves Cotton and JCT group is with MM Thapar. His son Samir Thapar runs JCT Mills and his son Arjun Thapar runs JCT electronics.[6] Bilt Chemicals and Bharat Starch was vested with BM Thapar and hence would be under his sons Gautam and Karan Thapar's control. Gautam has also been named by L.M. Thapar as the successor of his group of companies. IM Thapar's son Vikram Thapar looks after his group which includes the Calcutta based coal trading business K.C Thapar started out with and prawn farms for prawn exports as well as the Tiger Bay restaurant chain. Thapar Institute of Engineering and Tech. ( Now Thapar University) is a group project funded by the Thapar's. After L.M Thapar's death in 2007, his nephew Gautam Thapar ( son of BM Thapar and grandson of Karam Chand Thapar) has taken the reigns of BILT which is the flagship company of the group. The current situation of the Thapar group L.M.Thapar was quick to become a member of the "Bombay Club" which opposed opening up of Indian economy. The company responded to liberalisation by diversification including into unrelated business like leather, shoe lasts, light weight concrete blocks and reinforced slabs, prawn culture, compressed straw board, nylon ( collaboration with Du pont ) newspaper publication , flower exports. But the group failed to make success of most of these businesses, lost financially and decided to hive off some of these businesses. But failed even in that although the same businesses managed by other enterpreneurs have done remarkably well in India. One saw group business line like edible oil, being hived off and company resorting to economy measures like restricting executive benefits like business class airtravel, withdrawal of lunch facility for senior executives. So much so that it decided to move out its offices to Sainik Farms from Thapar house in Janpath. Executive turn over in the company rose very high about this time. Its chemical business declined and it sold off its glass business, and edible oil business. The company gave up its policy of growth through diversification. Now the company is consolidating in its core business by mergers and acqusition the most significant of which was the acquisition of SINARMAS India operation. Fortunately for the company, paper industry is still protected by high customs duty on import of most variety of papers. But it is unlikely to get that protection because India is committed to bring down tariff to Asean Levels. For last couple of years under leadership of Mr. Gautam Thapar the company is doing well. From a low price of around twenty, the share value has shot up to 100 plus - a huge leap in market capitalisation. BILT has recently also acquired a paper company in Malaysia which has captive forests for raw material. This would help the company in meeting the risks of ASEAN tarrif 206

K C DAS- BENGALI SWEETS- CANNED ROSSOGOLLAS

The Sweet Renaissance It was the best of times for Bengal in the second half of the nineteenth century, and the height of the golden age of Bengals resurgence. From fine arts to commerce, from culture to industry, from literature to science, in all things there was a glorious flowering of exuberant excellence. The spirit of this era touched the world of confectionery too. In the 1860s, the man who chose this area to engage his genius was Nobin Chandra Das (1845-1925). It was a humble beginning. In a tiny, obscure corner of Bagbazar in North Kolkata, Nobin Chandra set up a sweet shop in 1866, but the last thing he wanted was to run a mere sales counter. The passion to create something of his very own haunted him. His ambition was to create a completely original sweet, that would bring new excitement to the Bengali palate. There was in him an intense desire to create a sweetmeat that was never there before... the ultimate delicacy. He toiled for months, armed with imagination, skill and tenacity, and sometime in the year 1868, his labours paid off. He made small balls of casein (cottage cheese) and boiled them in hot sugar syrup. The result was a succulent, spongy sweet with a unique, distinctive taste. Nobin Das christened it the Rossogolla and a legend was born.

ROSSOGOLLA- The National Sweet of India It was an amazing innovation, carving for Nobin Chandra a place in legend and history where he has been lodged securely since then. Connoisseurs of sweets fondly remember him as Nobinmoira, the Columbus of Rossogolla a sobriquet coined half in jest and half in admiration. Highbrow Bengalis, who till then had used the word moira or confectioner disparagingly, came to lace it with reverence when linking it with Nobin Chandras name. The legendary Nobinmoira was born out of and sustained by a deep and abiding love: the love a Bengali has for his sweets. Nobin Chandras ancestors were sugar merchants of considerable social standing. Hailing originally from the district of Burdwan, the Dases had made Kolkata their home for eight generations by now Their house on a horseshoe bend on the river Ganges in Sutanotty (now Bagbazar), was well known even a century ago. Being respectable and prosperous sugar merchants, the family did not take kindly to Nobin Chandras decision to be a sweetmeat seller. His family itself disdainfully referred to him as a moira. Little did they imagine that history would transform their contempt into lasting adulation. But he put up with the ignominy without protest. Later, Nobin Chandra sought to vindicate his position by referring to the Puranas which first equated sweetmeat makers to the Brahmins in social status and later on to the Kshatriyas' after being enrolled as soldiers under Kartabiryarjun'. He published a booklet in this connection. By 1846, when Nobin Chandra was born, their traditional business had ceased to flourish. Nobin Chandra's father died three months before his birth. The only property that he inherited, besides his dwelling, was a plot of land. In 1864, left with little provision to complete his education, he sold this to establish a sweetmeat shop at Jorasanko 207

in Kolkata at his mother's instance, in partnership with his relatives. Due to mismanagement, this venture was not very successful. Recovering from his shock, he managed to collect some money and started a new venture with another shop in Bagbazar in 1866. Most sweetmeats made then were either Sondesh (a delicacy exclusively for the affluent), or sweets made of dal (lentils) or flour from various grains. Choices were limited. Lovers of sweets yearned for novelty. Moreover, in those days, sweetmeat shops used to depend on credit sales. However, Nobin Chandra had no resources to offer credit to his customers. Consequently, his shop became a rendezvous for old, retired men and unemployed youths. Its attraction, the unsold sweets which they would enjoy at the end of the day. However, they encouraged Nobin Chandra to introduce a sweet different from the customary sondesh - a soft, succulent sweet as against the dry and hard texture of sondesh. It was at this opportune moment that he struggled towards this end, but every time he tried to boil the casein balls in sugar syrup they disintegrated. At last, he discovered the presence of an enzyme in the casein to which he ascribed a vernacular terminology that played the trick. Nobin Chandra finally succeeded in creating the soft, spongy and syrupy Rossogolla for the discerning Bengali palate. It was the ultimate delicacy. In the absence of advertising as we know it today, it took its time to become popular. Nobin Chandra waited patiently until Fortune smiled on him at last. One fine morning, a magnificent landau came to a halt at his shop. A wealthy timber merchant, Raibahadur Bhagwandas Bagla was in the carriage with his family. One of Bhagwandass children was thirsty, and the carriage had stopped in search of a drink of water. Nobin Chandra offered his usual hospitality. The little boy was given water to drink along with Rossogolla. The child was delighted with this unique delicacy and offered his father a share. The father was equally ecstatic, and immediately bought a large quantity for his family and friends. This unorthodox word of mouthful proved immensely useful. Nobin Chandra and his Rossogolla became famous in no time. Contrary to the advice of his friends and admirers to take out patents, he taught the intricacies of Rossogolla-making to numerous sweetmeat makers. He believed that his creation could only gain popularity if available in all sweet shops across the country. Stories abound about Nobin Chandras ready creative genius. When Maharani Swarnamoyee Devi, the dowager of the house of Cossimbazar, complained that there were no more sweets to excite her jaded palate Nobin Chandra whipped up a delectable confection that made the old lady exclaim Aabaar Khabo i.e. "I want to eat it again! This was the birth of this now famous variant of the time-honoured sondesh. Nobin Chandras confections were also hot favourites with the monks of the new-born Ramkrishna Mission, who had set up their fledgeling monastery in the neighbourhood. Rakhal Maharaj (Swami Brahmananda), the first president of the Mission and a close friend, confidant and guide of Swami Vivekananda, reportedly once said in jest, Nobin has cut off our tongues and holds them hostage. The Dedo Sondesh was a particular favourite of Sri Maa(consort of Sri Ramkrishna). To this day, this item is sent daily from the Kolkata factory of K. C. Das as an offering to Sri Maa. A renowned medical practitioner of Bagbazar, Dr. Pashupati Bhattacharya would invariably buy Nobin Das' Rossogolla before visiting Rabindranath Tagore. One day the Rossogolla stock was exhausted in Nobin Das' shop when Dr. Bhattacharya arrived. He had to purchase from an adjoining shop. Rabindranath felt the difference and asked him to bring Rossogolla from Nobin's only.

Nobin Chandra was a thoroughly unorthodox moira, far ahead of his time. After he acquired the art of making rossogolla, he diverted his attention to the perfection of sondesh. From the granular and course varieties then in vogue, he succeeded in making it into a smooth paste and named it Kastura. He was the first traditional Bengali confectioner to incorporate natural fruit pulp in his creations and Bengalis of the succeeding generations have 208

blessed the creator of the Aata (custard apple) Sondesh and Kathaal (jackfruit) Sondesh. Another curious example of his creative expression was the way he transformed the broken or crumbled balls of casein left over from the process of making Rossogolla". He mixed these crumbs with kheer and added pistachios, raisins and saffron to make a unique kind of Sondesh. He christened it Baikuntha Bhog, truly a creation fit to be served at Vaikunth, the abode of the great god Vishnu.

Celebrating 100 years of Rossogolla in 1968 at Rossogolla Bhavan (House). The plaque being unveiled by the then Mayor of Kolkata, Mr. Gobindo De. K.C.Das Nobin Chandra left his legacy to his worthy son Krishna Chandra Das (1869-1934). A chip off the old block, Krishna Chandra enlarged his inheritance of his fathers genius in the art of Bengali sweetmeats. Nobin Chandra left his legacy to his worthy son Krishna Chandra Das (1869-1934). A chip off the old block, Krishna Chandra enlarged his inheritance of his fathers genius in the art of Bengali sweetmeats. What is more, he implanted in his family a spirit of exploration that keeps on seeking new vistas outside the beaten track. It is owing to the pioneering efforts of the Das family that today the Rossogolla may be fairly regarded as the national sweet of India.

ROSSOMALAI- Invented by K.C.Das Besides being privileged to have a great father, Krishna Chandra inherited a legacy of inspiration from his mothers family. His mother Kshirodmoni, was the granddaughter of Bholanath Dey, better known as Bholamoira in the history of nineteenth century Bengal. Bholamoira holds a place in Bengali folklore and culture, not just as a professional confectioner but as a legendary poet-minstrel.

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ROSSOGOLLA- The first Indian dessert to be canned for global market Krishna Chandra was married to Swetangini Devi who was known to be a great beauty. They had five sons and one daughter. In 1930, Krishna Chandra started his first shop, Krishna Chandra Das Confectioner with his youngest son Sarada Charan Das. Krishna Chandra also created the Rossomalai, another perennial favourite. To popularize the Rossomalai, Krishna Chandra opened a new sweet shop at Jorasanko in 1930. From there he also introduced the canned Rossogolla, which was the first and only canned dessert manufactured in the country at that time. Unfortunately, Krishna Chandra died within four years of the opening. He left the reins in the able hands of his son and successor, Sarada Charan (1906-1992). In 1946, K. C. Das was incorporated as a private limited company under the Companies Act, with Sarada Charan as its founder Governing Director.

Sarada Charan Das The enterprising and energetic Sarada Charan quickly expanded the business. He added to the number of shops in Kolkata, beginning with the shop at Esplanade East under his fathers name in 1935.

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AMRITAKUMBHA-A unique invention by Sarada Charan Das (click here) The enterprising and energetic Sarada Charan quickly expanded the business. He added to the number of shops in Kolkata, beginning with the shop at Esplanade East under his fathers name in 1935. This was the first time that the shops name was shortened to the crisper K. C. Das from the original Krishna Chandra Das. This shop broke new ground in many ways with uniformed employees and western-style service to seated customers. His passion for innovation took him to Japan in 1937, from where he brought back fine porcelain services for use in his shop, as well as Japanese handicrafts to be distributed to his customers as gifts.

Canned Rossogolla and other sweets for the diabetics invented by Sarada Charan Das Sarada Charan even revolutionized the way sweets were packed, replacing the traditional leaf packing with butterpaper lined white cardboard cake boxes. The tradition of innovation continued unbroken with Sarada Charan creating the first sweets for diabetics and the Amrita Kumbha Sondesh, an exciting departure from all conventions of shape and taste.

Sondesh Cake innovated by Sarada Charan Das 211

He also introduced the Sondesh Cake and Ice-cream Sondesh in order to compete with western confectionery products and dairy desserts.

Sarada Charans greatest contribution, however, was not just to the final products of confectionery but also to the cooking process under hygienic conditions. He conceived, designed and implemented the use of steam generated from a boiler passed through steam-jacketed pans,

to replace the traditional coal/wood burning stoves and conventional kadais. He was the true pioneer in modernising the traditional Indian confectionery industry. K.C.Das, Bangalore: It was not, however, a cakewalk. In West Bengal the stringent Milk Trade Control Order of 1967 cramped and smothered the enterprise initiated by Nobin Chandra and built into a tradition by his successors. Barring the Esplanade establishment which sold savouries besides sweets, in that year all the other K.C.Das shops had to close down, along with the famous Nobin Chandra Das establishment. Scarcity of quality milk and shortage of electricity had added to the organizations problems.

K.C Das showroom at St.Marks' Road, Bangalore

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It was in this context that the company began its southern campaign in 1972, when Sarada Charan set up a factory and a shop in Bangalore. It has since then grown into a culinary landmark of the city, with the Rossogolla naturally the most popular of its products.

Sweets

Canned Rossogolla Rossogolla

Rossomalai Rossomalancha

Chhanar Payes Keshar Rajbhog

Amritakumbha Rossomanjari, Khirmohan

Rossomadhuri,

ChhanarToast Khirkadam

Ananda Bhog Prabhu Bhog, Khirkadam, Cham

Cham

Khirmohan Rossokadam

Sonpapri

Jalbhara, Golapi Pera

Subhadeep Aambhora, Kathaal, Aata

Aabarkhabo, Baikuntha Bhog, Kathaal, Aata ,Dedo Pearafally, Dim, Bhaiphonta

Rosecream, Peshwari Shankha

Chhanar

Jilipi Khaja

Kalojaam Lalmohan

Rossomalancha, Darbesh, Mihidana Gulabjamun

Chitrakut Amriti, Khirchop,

Labanga latika

Sondesh Cake Misti Dahi

Keshar Dahi Orange Dahi 213

Mango Dahi Misti Dahi(cup)

Sugar free Sweets for the Diabetics

Canned Rossogolla for Diabetics Sondesh for Diabetics Rossogolla for Diabetics

Savouries

Veg Pat

ties, Singara, Chanachur, Chhanar chop Dhakaiparatha, Nimki, Dalmoot

Soya Roll Singara Paneer Vegetable Patties

Peas Kachori with Aloordum and Matar

KHAITAN THE FAN MAN

We are an ISO 9001 certified electric fans manufacturing company. We have established ourselves in air management technology since 1971. The khaitan name has also become legend for quality and innovation as well. Our present range of products are listed below: 1. Ceiling fan 2. Table & desk fan 3. Wall fans 4. Pedestal fan 5. Fresh air fans for ventilation of kitchen & bathroom 6. Heavy duty exhaust fans for godowns, factories & transformers 7. Axial flow fans 8. Industrial man coolers We manufacture a very wide range of models in ceiling fans including new range of epro series ceiling fans in classic design & decor to dispense optimum air output even at low voltage. We have manufacturing units in kolkata, faridabad, hyderabad & paonta sahib (HP) having installed capacity of producing 2. 00 millions of fans per annum. We have highly professional personnel in our research & development sections in both kolkata & hyderabad who keep up to date information on development in technology in our field world over. We are registered with various government buying authorities for supply of our products. We are exporting our products to all the middle eastern countries, east & west African countries, and South east Asian countries for more that one and half decades. We have got our fan approved by UL for USA (our u L approval is under renewal) and CE for Europe and sabs for South Africa. Slsi for srilanka & bsti for Bangladesh 214

For decades, the Khaitan name has been synonymous with quality fans in India. With 19 offices located across the country, we have established ourselves as the undisputed leader in air-management technology. The Khaitan name is renowned for innovations as well which is reflected in the design of pioneering product concepts such as Freshair fans, and models in the mini category. Now Khaitan is diversifying even further. Pumps, lights, home appliances, cables, wires and circuit breakers have been added to Khaitan's portfolio. Good quality, great performance and novelty in design are some of the assured features of any product from Khaitan.

Shri P. Chengalvaraya Chettiar & Shri P.C. Ramamurthy- Kumaran Silks

Kumaran Silks was established in the year 1955 by Shri P. Chengalvaraya Chettiar and his son Shri P.C. Ramamurthy. Shri P. Chengalvaraya Chettiar along with his son left their hometown Kanchipuram to set up a showroom at Chennai. Hailing from a weavers family in Kanchipuram, they possessed rich knowledge on the quality of silk. They started their business in a very small level and their early days were not a bed of roses. But their dedication, honesty and sincerity took them to the heights in the textile world. Within a span of 20 years Kumaran Silks was known world over for its quality goods at competitive prices. It was no easy task satisfying the quality hungry customers of Chennai. Shri P.C. Ramamurthy rose to the occasion by setting up his own manufacturing units at Kanchipuram, Kumbakkonam and Arni. His disciplined policies enabled him to procure quality materials from other manufacturers. This enabled them to sell quality goods at the most competitive prices. Kumaran Silks is now the worlds largest textile showroom spreading around 60000 sq. ft. and houses all the varieties of sarees woven through the length and breadth of India. Kumaran exports cater to the need of the Asian community throughout the world. After Shri P.C. Ramamurthy, Kumaran Silks is been ably managed by his four sons P.R. Babu, P.R. Subramanian, P.R. Kesavan and P.R. Kumar. The vision of Shri P.C. Ramamurthy to make Kumaran Silks as a one-stop showroom for all the varieties of sarees has been achieved by his sons.

THE SEEDS OF SUCCESS- SARAVANA BHAVAN

A man with a humble beginning. A dream to make it big. And a simple idea driven by a lot of passion. When you bring all three together, the possibilities are immense. Way back in 1981, our founder Mr. P. Rajagopal (Annachi as he is lovingly called) believed that few things bring about a smile of satisfaction like good food. 215

Our first branch of Hotel Saravana Bhavan was opened, primarily to bridge the gap of the non-existence of a quality vegetarian restaurant. Annachi, our founder was later joined in this quest by his sons, Mr. P. R. Shiva Kumaar and Mr. R. Saravanan who have lent their expertise in monitoring the day to day operations as well as initiating new business strategies. From then on, there has been no looking back. Ever since, our Hotel Saravana Bhavan has crossed milestones, set records, redefined the dine-in experience. A NETWORK OF SUCCESS The Indian Cuisine is as diverse as its culture, languages, regions and its climate. Every major region of India brings its own unique dishes and subtle variations to popular dishes. Aromatic Spices are the essence of Indian cuisine. This is the unique formula, we, at Hotel Saravana Bhavan, chain of Indian vegetarian restaurants follow, to build our businesses across the globe. In his early teens he had to move away from home and fend for himself. At the age of 13 he got the job of a cleaner in a small hotel in a village and his day began at 5 a.m. in the morning. No amount of prodding is incentive enough for the man to give a graphic description of his living conditions, which must have been ghastly. All he would say is "The memory of those days has motivated me to take care of the housing needs of my workers". While those with families are helped to find accommodation, the single member of his staff are accommodated in "decent rooms with fans and other facilities". They are also given a TV, newspapers and magazines. Rajagopal came to Madras in 1961 and after seven years started a provision store in K.K.Nagar in 1973. "When wholesalers used to bring various items, they would be restless around lunch time, and would be in a hurry to finish their work, saying they had to go all the way to T.Nagar or elsewhere for lunch as there was no decent eating place in K.K.Nagar which served clean wholesome food at an affordable price". Thus the idea of starting a hotel was planted in his mind, in 1981 he started the first Saravana Bhavan restaurant in K.K.Nagar, and now there are six of them in the city, the most popular being the T.Nagar restaurant where one has to often wait for a table. So well known have these hotels become for the quality of the food and cleanliness and hygiene observed in its preparation and serving that it receives a growing number of catering orders. The T.Nagar hotel alone gets about 600 such orders every month. "I am very particular about maintaining standards, and about 25 women work in my house, under the direct supervision of my wife, cleaning the food grains. We also have supervisors who inspect the good being cooked and professional tasters who make sure that standards are being maintained." With each catering order a complaint form is sent and every complaint is taken seriously. 'Best ingredients with passion and perfection', is the core principle behind our Saravanaa Dairy Rich. Way behind in 1991, to meet the demand of ice cream in the restaurants, we Hotel Saravana Bhavan - pioneers in South Indian Vegetarian Food Chain-, instituted Saravanaa Dairy Rich. The Plant Hygiene and cleanliness are the magic words that build our brand Saravanaa Dairy Foods in today's market. Sophisticated plant with a creative marketing strategy and state-of-the art machinery has made our brand a great success. A well equipped quality control system monitoring from the raw materials, to I.S.I standards multiples our growth of the plant. Catering to more than 300 outlets which includes Educational Institutions, Hotels, Entertainment Centres and many more in Chennai city alone, our plant produces 2500 liters of ice cream per day and in the near future targeting to the maximum of 5000 liters per day. The Strength The dairy rich milk fat in the ice cream makes us claim top ranked among the brands. From the very beginning, our label 216

Saravanaa Dairy Rich guarantees that only natural ingredients such as fresh cream and fresh fruits and nuts are used in our ice cream. We are convinced that an uncompromising attitude towards quality is the only way to exceed the high expectations of our consumers. Recent launch Real Fruits from our Saravanaa Dairy Rich, one of its kind in the ice cream world is just launched. 100% fresh and natural, soft and juicy ice cream is what we guarantee our customers. Only natural ingredients such as fresh cream, fresh fruit pieces / pulp are used in the preparation of Natural Fruits. For instant, black current from Belgium, jack fruit from kerala and alphonso mangaoes from rathnagiri, Maharastra. To all Vegetarian consumers, a treat from the house of Hotel Saravana Bhavan. Fresh Bakes, our bakery unit, started operations since 2000. We are dedicated in providing our customers with quality gourmet and specialty cakes and pastry products. Using state-of-the-art-technology, we have an experienced team of bakers and confectioners dedicated towards the growth of Fresh Bakes. The Products The specialties that we serve includes butter cream and fresh cream pastires, dry cakes, bread varieties, mousse cake, tart, cookies, snacks and much more in the menu. An environment filled with tantalizing aromas of freshly baked products is what we promise at our bakery unit. 'Pizza', simply the best, from our Fresh Bakes is launched now. With hot sizzling vegetarian flavors, our pizzas are of international standards and best among the brands. With a triple 'H' formula hot, healthy, hygienic we are in the market now. As for the future he has plans to go in for more fast food joints as the first such Saravana restaurant opened recently in K.K.Nagar is doing brisk business. Two striking features of his personality are simplicity and sincerity. He has started giving insurance cover to some of his employees, and his goal is to insure all those who complete 10 years of service in his establishments. It is gestures like these which motivate my men to stay on with me. They do not mistake me even when I give lectures to them on the evils of smoking and drinking because they know that I follow what I preach. Each new restaurant added to our network carries the legacy of good taste and quality. The trust that the customers have placed in us has been a motivating factor in exploring new destinations. Today, our group has its presence across 22 outlets in South India, 3 in the North and 7 countries with 16 outlets across the globe. We have come a long way creating a niche among the Hotelier & Caterer segment. We ensure our customers are our strength and make them feel at home when they are with us. An outlet to be great with friends or all by yourself. You can eat in, take it to go, or have it catered right to you. The feeling is friendly and the food is fabulous. Whenever you need it, wherever you need it, it is your own unique world to eat out. Our services include Fast Food, Take Away, Home Delivery, Outdoor Catering, Party Orders and more. A NETWORK OF SUCCESS Each new restaurant added to our network carries the legacy of good taste and quality. The trust that our customers have placed in us has been a motivating factor in exploring new destinations. Today, our group has its presence across 22 outlets in South India, 3 in the North and 7 countries with 16 outlets across the globe. We have 217

come a long way creating a niche among the Hotelier & Caterer segment. NO FULL STOPS FOR SUCCESS Success begets success. It has been close to 25 years since we started this venture. It has been a history of enriching experiences, awards and citations. However, we don't believe in resting on our laurels. We have always reinvented ourselves in our unswerving endeavour to offer unrivalled quality and taste. We have many more borders to cross, touch higher summits. And look out for new business opportunities. And the journey continues. RESTAURANT LAUNCH DATES India - Chennai, KK Nagar - 14-12-1981 India - Chennai, T Nagar - 14-09-1985 India - Chennai, Ashok Nagar - 23-04-1988 India - Chennai, George Town - 19-05-1989 India - Chennai, Purasawakam - 20-04-1990 India - Chennai, Vadapalani - 14-06-1990 India - Chennai, Ashok Pillar - 07-05-1992 India - Chennai, Peters Road Fast Food - 06-07-1993 India - Chennai, Anna Nagar - 11-03-1994 India - Kanchipuram Gandhi Road - 26-03-1995 India - Chennai, R K Salai - 07-05-1995 India - Chennai, Anna Salai - 22-08-1996 India - Chennai, Peters Road - 01-05-2000 UAE - Dubai - Al Karama - 14-12-2000 India - Chennai, Pondy Bazaar - 27-09-2001 Singapore - Robinson Road - 23-03-2002 USA - California - 14-04-2002 UAE - Dubai - Bur Dubai - 04-07-2002 India - Chennai, Central Railway Station - 15-07-2002 Singapore - Serangoon Road - 11-10-2002 India - New Delhi - Janpath - 13-03-2003 Oman - Muscat - 27-08-2003 218

India - Vellore - 01-09-2003 Malaysia - Kuala Lumpur - Bangsar - 14-09-2003 Canada - Mississauga - 17-10-2003 India - Kanchipuram - Anna Indira Gandhi Salai - 12 -12-2003 India - New Delhi - Connaught Circus - 01-03-2004 India - Chennai, Egmore - 26-04-2004 UAE - Sharjah - King Faizal Road - 06-11-2004 India - Chennai, Beach Railway Station - 04-12-2004 Malaysia - Kuala Lumpur - Masjid India - 15-01-2005 India - New Delhi - Karol Bagh - 15-03-2005 India - Chennai, Ashok Pillar - 100 Ft Rd. - 14-04-2005 UK - London, East Ham - 06-05-2005 USA - New York - 04-7-2005 UAE - Dubai - Deira - 18-09-2005 Canada - Scarborough - 21-09-2005 India - Chennai, Mylapore - 14-12-2005 UAE - Dubai - Al Qusais - 14-12-2005 USA - New Jersey - 02-09-2006 Malaysia - Kuala Lumpur - Petaling Jaya - 21-01-2007 India - Chennai - Spencer Plaza - 01-02-2007 UAE - Sharjah - Clock Towers - 04-03-2007 Canada - Richmond Hill - 21-06-2007 USA - Atlanta - Decatur

219

Zeba Kohli- Fantasie Fine Chocolates.

AT 15, Zeba Kohli fell in love with chocolates. Today, at 37, her love for chocolates has only grown; she runs a successful business making delicious chocolates by the name of Fantasie Fine Chocolates. Kohli makes chocolates in over 1000 shapes and in more than 40 flavours. Over the years, she has created several chocolate dreams-a chocolate jewellery box complete with chocolate rings, necklace Zeba Kohli with her chocolate toys (embedded with edible jujubes and marshmallows), a chocolate creative kit complete with puzzles for children and a variety of chocolate toys. When Kohli took over the family business at the age of 18, Fantasie was retailed through one store with less than 12 varieties. Now it is has seven storesin Mumbai, Pune and Bangalore. Fantasie is also sold on the Net. In April this year, Kohli held a chocolate sculpting event in Mumbai, where she invited three world-renowned sculptors to craft masterpieces out of huge chunks of chocolate. Recently, she held a chocolate evening, again in Mumbai, where the entire decor, from curtains to invitation cards, was done in chocolate. Mannequins were dressed in chocolate mini-skirts, stoles, necklaces and hats. Guests were served fondue (melted flavoured cheese or pieces of food dipped in a hot sauce) and chocolate shots and medallions, rings and bracelets were presented as return gifts. Mother of two daughters (aged six and eight), Kohli says she "dreams only in chocolate". She believes being a woman makes her more successful in this creative field. A commerce graduate from Mumbai University, Kohli knew from the start that she wanted to join the familys chocolate business. At 14, she started visiting the family store to figure out what sells and how best chocolates can be sold in India. While she inherited the business early, Kohli decided that to make a success of it she needed to train herself in every aspect of chocolate making. She armed herself with several certificates from training institutes like The Wolf in Switzerland, Richemont Professional School (for specialisation in making pralines) and a diploma from the Call Ebaut Chocolate College in Singapore. Kohli was clear that she wanted to create a niche in the market for quality Indian chocolates. Her chocolate boutiques dont keep stuff more than 10 days old. Before sending each designer chocolate out of the factory, Kohlis staff tastes it. Every month cash prizes are given to employees for identifying successful flavours. Kohli says that Indian chocolates lose out because they are not very smooth. She agrees that India today does not figure anywhere on the international chocolate scene, mainly because of the monopoly of Swiss chocolate companies and poor quality products made at home. However, she feels consistency in quality will put India on the international chocolate map. Kohli has already made inroads in the foreign market and is selling chocolates in the UK and USA. 220

In India, her clients include film stars, business people and socialites. Consumer trends, she feels, are moving towards less sweet chocolates. Her personal favourites are liquid Mocha Mousse and exquisite Swiss hand-rolled truffles. Kohli also conducts classes at Karen Anands Gourmet Academy (Mumbai) to train adults and children in chocolate making. Whats her next fantasy? A chocolate play area for children and adults to create their own chocolates. The chocolate here would be unbelievably smooth and creamy with a shelf life of a year. THE HINDU SAGA Many a Chennaiite begins his day with a hot cuppa in one hand and a copy of 'The Hindu' in the other. Clearly this publication forms an integral part of the Chennai ethos. Starting with a readership of around 250 in 1878, The Hindu Group today enjoys the loyalty of over 4 million people. It was started in 1878, by six young men, as a voice against the British rule; specifically as a reaction to the Anglo-Indian press' campaign against the appointment of T Muthuswami Aiyer as the first Indian Judge of the Madras High Court. Six young patriats, barely out of their teens, borrowed a Rupee and twelve annas (an anna is about 6 paise today) and founded The Hindu, printing 80 copies and promising a 4-anna weekly consisting of eight pages, (each a quarter of today's page size). The first issue came out on the 20th of September, 1878. These young men were - G Subramania Aiyer, M Veeraraghavachariar, T.T.Rangachariar, P.V.Rangachariar, D. Kesava Rao and N. Subba Rao. Subramania Aiyer as Editor and Veeraraghavachariar as Managing Director, were the principle organs during the formative years of The Hindu, even as the others parted ways. The Hindu survived, where other publications failed, not only because it filled a need, but also because it took a hard stance on issues that influenced the public at that time. The Hindu saga In 1883, The Hindu became a tri-weekly, retaining its original format, but coming out every Monday, Wednesday and Friday evening. The same year, with the help of prominent well-wishers, it acquired its own press and premises. The new address, 100 Mount Road was to remain The Hindu's home till 1939.

April 1st, 1889 - The Hindu becomes an evening daily. October 1898 - Subramania Iyer quits. Veeraraghavachariar takes over the struggling Hindu. April 1st, 1905 - Kasturi Ranga Iyengar takes over The Hindu for a sum of Rs. 75,000/1912 - The Hindu sells as an 18-page tabloid-sized newspaper. Between 1921 and 1922 - The first rotary printing press and modern type composing machines installed in Madras. 1923 - Kasturi Ranga Iyengar dies, leaving behind a paper with a circulation of 17,000 and considerable advertising support. 1925 - Acquires standard size, publishing atleast 12 pages daily. Sports Page also introduced in 1925.

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S Rangaswami steps into Kasturi Ranga Iyengar's shoes and continues till his death in 1926. 1928 - A Rangaswami comes in as Editor and stays up to1934. 1928 - Starts an illustrated weekly that became the Sunday Magazine Section in1941. 1930 - The first library with a scientific system of indexing and cross-referencing for an Indian newspaper is started. Mid-thirties; a cinema page and a gardening page introduced. 1934 - 1959, Srinivasan at the helm 1938 - The Hindu becomes the first newspaper to have a teleprinter connection from the Central Telegraph Office. And at war's end - a circulation of 45,000. November 24th,1939 - A new home at # 200 Mount Road. 1940 - Becomes a morning newspaper. 1947 - Started India's first sports weekly. 1962 - First Indian paper to charter planes to distribute copies. 1963 - Acquires its own planes. 1964 - Daily religious discourse introduced. 1969 - Commenced electronic facsimile reproduction for first time in India. 1970 - First newspaper to use photocomposition. 1977 - Sunday paper introduces colour features and colour advertisements for the first time in India. 1986 - Started a Delhi issue by using satellite transmission, facsimile transmission for news photographs, again leading the Indian newspaper Industry. All this technological pioneering made 'The Hindu' the success it is today. The 'Srinivasan age' can be described as the golden age of 'The Hindu'. It was he who established the formula of comprehensive coverage of all news that has official confirmation, didactic editorial and the refusal to dig up private lives of public men with an eye on sensation and circulation. The Hindu Group has always maintained the image of a factual, unbiased reporting system, which has over the years won the attention and regard of Indians, both here and abroad.

The other publications of The Hindu group include:

Business Line The Sportstar Frontline Survey of Indian Industry Survey of Indian Agriculture Survey of the Environment Indian Cricket

The online edition of the publication has become today, one of the most credible reference points for Net surfers seeking News and Information. www.hinduonnet.com

The first issue of The Hindu was published on September 20, 1878, by a group of six young men, led by G. Subramania Aiyer, a radical social reformer and school teacher from Thiruvaiyyar near Thanjavur. Aiyer, then 23, along with his 21-year-old fellow-tutor and friend at Pachaiyappa's College, M. Veeraraghavachariar of Chingleput, and four law students, T.T. Rangachariar, P.V. Rangachariar, D. Kesava Rao Pant and N. Subba Rao Pantulu were members of the Triplicane Literary Society. The British-controlled English language local 222

newspapers had been campaigning against the appointment of the first Indian, T. Muthuswami Aiyer, to the Bench of the Madras High Court in 1878. "The Triplicane Six," in an attempt to counter the dominant attitudes in the English language press started The Hindu on one [British] rupee and twelve annas of borrowed money. Aiyer was the editor and Veeraraghavachariar the Managing Director. The first editorial declared, "[the] Press does not only give expression to public opinion, but also modifies and moulds it." Three of the students soon left the paper and took up careers in law, while Pantulu continued to write for The Hindu. The founders of the newspaper maintained a neutral stance regarding British rule, and occasionally, as in an editorial of 1894, held that British rule had been beneficial to Indian people. "However, it was equally convinced that the Anglo-Indian Press should be challenged, despotic bureaucrats condemned, and the abuse of power exposed," writes historian S. Muthiah.[2] Initially printing 80 copies a week at the Srinidhi Press in Mint Street, Black Town, The Hindu was published every Wednesday evening as an eight-page paper, each a quarter of today's page size and sold for four annas (1/4 Rupee). After a month of printing from the Srinidhi Press, the newspaper switched to the Scottish Press, also in Black Town. The earliest available issue of the paper is dated June 21, 1881. In 1881, it moved to Ragoonada Row's 'The Hindu Press' of Mylapore, with the intention of making it tri-weekly. This plan did not materialize until it moved to the Empress of India Press, where, starting on October 1, 1883, is was published on every Monday, Wednesday and Friday evening; it continued maintaining the same size as before. The offices moved to rented premises at 100 Mount Road on December 3, 1883. The newspaper started printing at its own press there, christened "The National Press," which was established on borrowed capital as public subscriptions were not forthcoming. The building itself became The Hindu's in 1892, after the Maharaja of Vizianagaram, Ananda Gajapathi Raju, gave The National Press a loan both for the building and to carry out needed expansion. Its assertive editorials earned The Hindu the nickname, the Maha Vishnu of Mount Road. "From the new address, 100 Mount Road, which to remain The Hindu's home till 1939, there issued a quarto-size paper with a front-page full of advertisements - a practice that came to an end only in 1958 when it followed the lead of its idol, the preThomson Times - and three back pages also at the service of the advertiser. In between, there were more views than news."[2]After 1887, when the annual session of Indian National Congress was held in Madras, the paper's coverage of national news increased significantly, and led to the paper becoming an evening daily starting April 1, 1889. The partnership between Veeraraghavachariar and Subramania Aiyer was dissolved in October 1898. Aiyer quit the paper and Veeraraghavachariar became the sole owner and appointed C. Karunakara Menon as editor. However, The Hindu's adventurousness began to decline in the 1900s and so did its circulation, which was down to 800 copies when the sole proprietor decided to sell out. The purchaser was The Hindu's Legal Adviser from 1895, S. Kasturi Ranga Iyengar, a politically ambitious lawyer who had migrated from a Kumbakonam village to practise in Coimbatore and from thence to Madras. Kasturi Ranga Iyengar's ancestors had served the courts of Vijayanagar and Mahratta Tanjore. He traded law, in which his success was middling but his interest minimal, for journalism, pursuing his penchant for politics honed in Coimbatore and by his association with the `Egmore Group' led by C. Sankaran Nair and Dr T.M. Nair. Post-Independence In late 1980s when its ownership passed into the hands of the family's younger members, a change[citation needed] in political leaning was observed. Worldpress.org lists the Hindu as a left-leaning independent newspaper.[3] This political polarization is supposed to have taken place since N. Ram took over as editor-in-chief. Joint Managing Director N. Murali said in July 2003, "It is true that our readers have been complaining that some of our reports are partial and lack objectivity. But it also depends on reader beliefs."[4] N. Ram was appointed on June 27, 2003 as its editor-in-chief with a mandate to "improve the structures and other mechanisms to uphold and strengthen quality and objectivity in news reports and opinion pieces", authorised to "restructure the editorial framework and 223

functions in line with the competitive environment".[5] On September 3 and 23, 2003, the reader's letters column carried responses from readers saying the editorial was biased.[6][7] An editorial in August 2003 observed that the newspaper was affected by the 'editorialising as news reporting' virus, and expressed a determination to buck the trend, restore the professionally sound lines of demarcation, and strengthen objectivity and factuality in its coverage.[8] In 1987-'88 The Hindu's coverage of the Bofors arms deal scandal, a series of document-backed exclusives set the terms of the national political discourse on this subject. The Bofors scandal broke in April 1987 with Swedish Radio alleging that bribes had been paid to top Indian political leaders, officials and Army officers in return for the Swedish arms manufacturing company winning a hefty contract with the Government of India for the purchase of 155mm howitzers. During a six-month period the newspaper published scores of copies of original papers that documented the secret payments, amounting to $50 million, into Swiss bank accounts, the agreements behind the payments, communications relating to the payments and the crisis response, and other material. The investigation was led by part-time correspondent of The Hindu, Chitra Subramaniam reporting from Geneva, and was supported by Ram in Chennai. The scandal was a major embarrassment to the party in power at the centre, the Indian National Congress, and its leader Prime Minister Rajiv Gandhi. The paper's editorial accused the Prime Minister of being party to massive fraud and cover up.[9] In 1991, Deputy Editor N. Ravi, Ram's younger brother replaced G. Kasturi as Editor. Nirmala Lakshman, Kasturi Srinivasan's grand-daughter, became Joint Editor of The Hindu and her sister, Malini Parthasarathy, Executive Editor. In 2003, the Jayalalitha Government of the state of Tamil Nadu, of which Chennai is the capital, filed cases against the paper for "breach of privilege" of the state legislative body. The move was widely perceived as a government's assault on freedom of the press. However, The Hindu emerged unscathed from the ordeal, scoring both political and legal victories, as it instantly commanded the support of the journalistic community throughout the country, as well as the national government's political leadership.[10] The younger generation of The Hindu's editors have also contributed much to its commercial success. They built a modern infrastructure for news-gathering, printing and distribution. On the look of the newspaper, editor-in-chief Ram writes, "The Hindu has been through many evolutionary changes in layout and design, for instance, moving news to the front page that used to be an ad kingdom; adopting modular layout and make-up; using large photographs; introducing colour; transforming the format of the editorial page to make it a purely 'views' page; avoiding carry-over of news stories from one page to another; and introducing boxes, panels, highlights, and briefs." Major layout changes appeared starting <date missing< (redesign by Edwin Taylor) and starting Apr 14, 2005 (redesign by Mario Garcia and Jan Kny). The focus of Garcia's redesign was on "giving pre-eminence to text, including (where appropriate and necessary) long text, but also by enabling photographs, other graphics, and white space to have an enhanced role on the pages; by giving the reader more legible typography, an efficient indexing or 'navigation' system, a clear hierarchy of stories, a new and sophisticated colour palette; and by offering the advertiser better value and new opportunities."[11] The Hindu, like many other Indian publishing houses, is family-run. It was headed by G. Kasturi from 1965 to 1991, N. Ravi from 1991 to 2003, and by his brother, N. Ram, since June 27th 2003. Other family members, including Nirmala Lakshman, Malini Parthasarathy, Nalini Krishnan, N Murali, K Balaji, K Venugopal and Ramesh Rangarajan are directors of The Hindu and its parent company, Kasturi and Sons. S Rangarajan, former managing director and chairman since April 2006, died on 8 February 2007.

DR PRATAP CHANDRA REDDY APOLLO HOSPITALS

His dream is to make India the Healthcare Destination of the World. Two decades ago, Dr. Reddy lost a patient who couldn't make it to Texas for an open heart surgery. This was the milestone in the Indian Healthcare Industry. Today people have the opportunity in India to receive the best that 224

healthcare has to offer worldwide. Driven by a deep urge to create world-class medical infrastructure in India and make it more accessible and affordable to a large cross section of our people, Dr. Prathap Reddy opted to give up his successful practice in the US to return to India in the early eighties. Thus, Dr. Reddy began what was truly the process of revolutionizing the path of the Indian Healthcare Industry. Undeterred by initial constraints Dr. Reddy succeeded in setting up the first center of the Apollo Hospitals Group in Chennai in 1983. This was soon followed by India's first hospital consultancy body - the Indian Hospitals Corporation - and the commissioning of two more Tertiary Care Centers in India. Not only did he set a precedent for corporate healthcare in the country, but the Government of India soon recognized his enterprising efforts leading to Financial institutions amending their funding legislation to include hospitals Board basing the scope of medical insurance. On an upswing since then, today the Apollo Hospitals Group has over 22 centers in major metropolises in India with a combined turnover of over US $ 100 million. Apollo over the last decade, has demonstrated that Indian skills are equivalent to the best centers in the world and has produced world-class results in the most complicated Cadaver Transplant. Having steered the Apollo Hospitals Group to a number of locations within India, Dr. Reddy embarked on an Asian expansion plan with the first clinic in Dubai established in March 1999. Now, projects in Sri Lanka, Africa, Bangladesh and Oman are on the anvil. His newest initiative is to integrate into healthcare, the digital nervous system that will eventually create a virtual Apollo Center anywhere any time. Apollo's major Web initiative, Med Varsity -a virtual medical university providing total access to experts in the field of medicine anywhere in the world and "MEDNET" - Hospital Systems Management package are slated to transform the way medicine is practiced in the country. His plans for improved accessible and affordable healthcare for the millions of our people are an ongoing process and to bring country-wide, comprehensive health insurance scheme to our people is now his obsession. The telemedicine technology that has been successfully introduced by Dr. Reddy in India will be a key enabler in transforming the healthcare delivery in India. His blueprint for the nation includes setting up of many rural hospitals. Dr. Reddy is now looking at secondary health centers in semi urban and smaller cities and has already identified 23 sites for the same. The maiden effort in this venture has been at Aragonda, his native village and Dr. Reddy envisages that this center will serve as a model for all such projects of the Apollo Group in rural India. Dr. Reddy has been a keen promoter of active research and exchange programmes for Doctors at Apollo with leading medical institutions for providing excellent opportunities for clinical interaction with their counterparts abroad and also for constant update of their knowledge for the optimum benefit of the mankind. Recognizing his pioneering role in transforming the Indian healthcare industry, the Government of India awarded him the prestigious Padma Bhushan in February 1991. He was also presented with the Sir Neel Ratan Sarkar Award for medical excellence in June 1998. Nominated by Business India as one of the Top Fifty personalities, who have made a difference to the country in the fifty years since Independence, the country has certainly recognized his contributions. The Royal college of Surgeons of Edinburgh has conferred the Award of fellowship Ad hominem. Dr. Reddy's firmly believes that the Indian doctors have not got their true entitlement. He is convinced that India 225

is not only well poised to meet the healthcare challenges of the millennium, but also equipped with the talent and strength to contribute in further developing the health and economy of the world.

MURUGAPPA GROUP PARRYS

Established in the year 1788, Parry is presently engaged in a wide galaxy of diversified activities. It became a member of the Murugappa group in the year 1981 and thereafter the story has been one of turnaround and of steady growth. Currently, E. I. D. Parry has evolved into one of the largest business groups in the country. It is engaged in the manufacture and marketing of a wide-range of products, that can be broadly divided into the following two groups: Parryware Ceramic Sanitary ware Sugar, Bio-Products & Chemicals Sugar, Alcohol, Power, Bio-products. The company has been a pioneer in many fields, including setting up of India's first chemical fertiliser plant - at Ennore, Sugar plant - at Nellikuppam and Sanitaryware plant - at Ranipet. A strong sense of commitment and adherence to business ethics has helped E.I.D. Parry succeed in bringing to life the larger picture and to Go Beyond in all their ventures. The major companies of the Group are: Carborundum Universal Limited. Cholamandalam DBS Finance Limited , Cholamandalam MS General Insurance, Coromandel Fertilisers Limited, EID Parry India Limited , Godavari Fertilisers Limited, Parry Agro Industries Limited, Parryware ROCA Private Limited, Tube Investments of India Limited

Kirloskar Group
The Kirloskar Group (consisting of Kirloskar Brothers, Kirloskar Oil Engines, Kirloskar Ferrous Industries, Kirloskar Pneumatic Company, Kirloskar Ebara Pumps Ltd., Aban Construction Company and SPP Pumps (UK)) is India's largest Engineering and Construction Conglomerate with sales exceeding $2 Billion. The Kirloskar Group today exports to over 70 countries and has a brand name to reckon with, especially within India and over most of Africa, South East Asia and Eastern Europe. The flagship& holding company, Kirloskar Brothers Limited established in 1888, is India's largest maker of Pumps and Valves and also undertakes construction projects through its subsidiary Aban Construction. It is headed by Mr. Sanjay Kirloskar. The Kirloskar group of companies was one of the earliest industrial groups which made a mark in the engineering industry in India. The group produces pumps, engines, compressors, lathes and electrical equipments like motors, transformers and generators (it is the worlds largest genset manufacturer). While Laxmanrao Kirloskar established the group, his son S. L. Kirloskar played a major role in its rapid growth. S. L. Kirloskar was a man who transformed his vision into a promising and thinking reality, of application of appropriate technology, customer satisfaction and dauntless integrity. SLK was a global thinker who had the courage and the confidence in his own country even in the pre-independence era. 226

He often said, "Economic preparedness is as vital as military preparedness." He always looked at India as a part of the rest of the world and struggled to make India globally competitive - that was his spirit of patriotism. He created an empire that enjoyed one of the highest growth rates in Indian history, a staggering 32,401% growth of assets from 1950-1991. In 1974, in cooperation with Deutz-Fahr of Germany, Kirloskar began manufacturing tractors.[[1]] They have since ceased tractor production. In 1988, Rajiv Gandhi, the then Prime Minister of India released a commemorative postage stamp marking the Kirloskar Group's 100th anniversary. Other Kirloskar companies

Toyota Kirloskar Motors LTD ( TKML ) produces Toyota Vehicles in India. Mysore Kirloskar ( MK ) produced lathes including CNC types. Kirloskar Electric Company ( KEC ) made electrical equipments like transformers ,generators and motors etc. KEC is not part of the Kirloskar Group anymore.

TVS MOTORS- VENU SRINIVASAN TVS Motors established in 1911 by Shri. T V Sundaram Iyengar. Started with bus service in the city of Madurai, South India. As one of Indias largest industrial entities it epitomizes Trust, Value and Service. Today, there are over thirty companies in the TVS Group, employing more than 40,000 people worldwide and with a turnover in excess of USD 2.2 billion. With steady growth, expansion and diversification, TVS commands a strong presence in manufacturing of twowheelers, auto components and computer peripherals. We also have vibrant businesses in the distribution of heavy commercial vehicles passenger cars, finance and insurance. TV Sundaram Iyengar and Sons Limited (TVS) is the holding company for the TVS Group of companies engaged in the manufacturing of almost all kinds of automotive components, two wheelers and a few other industrial products. They are also into the financial services sector. The turnover of the entire group was close to $2 billion in 2003. It is the only automotive manufacturer in India to get the prestigious Deming Prize. One of its subsidiaries Sundaram Clayton was the first company in India to receive the Deming Prize. This was quickly followed by Sundaram Brake Linings also getting the Deming Prize. This prize is "given to organizations or divisions of organizations that have achieved distinctive performance improvement through the application of TQM in a designated year."[1] Sundaram Clayton went on to be awarded the Japan Quality Medal. 227

The TVS group of companies is mainly situated in Padi, Tamil Nadu, in the outskirts of Chennai (formerly Madras). TVS Motors: In 1980 TVS 50, India's first two-seater moped rolled out of the factory at Hosur in Tamil Nadu, Southern India. A byword for reliability, the TVS 50 had proved itself promising and successful in every test and paved a way for many successes for TVS Suzuki. Likewise the TVS champ and super Champ gave a reliable and sturdy two wheeler to public, who wanted looks fused with economy. These two wheelers together redefined the category of mopeds in India. TVS later left its collaboration with Suzuki and started to manufacture its own vehicles. TVS Motors Company is currently the third largest two wheeler company in India with sales of 107,117 units (as of June 2007). The company exported 9,133 units of two wheelers in June 2007. [2] TVS Group Companies: Sundaram Brake Linings Sundaram Fastners Southern Roadways Sundaram Finance Current Chairman of TVS Suzuki and Sundaram-Clayton, Venu Srinivasan is the grandson of TVS Founder T. V. Sundaram Iyengar. Despite being from a business family, Venu Srinivasan's induction started off as a car mechanic at their own TVS garage. Annual vacations meant 8 hours a day of sweat and grime in the garage. This engineering graduate and MBA (Purdue University, United States), is known for his obsession with excellence. That perhaps, accounts in part for Sundaram Clayton winning the global quality benchmark - the Deming Application Prize. Venu Srinivasan is also credited with pioneering TQM (Total Quality Management) based on the Japanese model, long before most enterprises in India did. This man who bridles at the sight of even a scrap of dirt on his factory floor, believes in the all-encompassing scope of quality consciousness.

K. M. Mammen Mappillai-MRF
Born on November 28, 1922 in Kerala, Mammen Mappillai was born to K. C. Mammen Mappillai (18731953)and Kunjandamma (- 1950) as the the youngest of the prosperous family of eight sons and a daughter. He started his industrial life with a toy balloon manufacturing unit from a small shed near Madras (now Chennai) in 1946. By 1952, Madras Rubber Factory ventured into the manufacture of tread rubber. Since then, the company has grown to become a INR 30 billion enterprise. In 1993, K.M. Mammen Mappillai was awarded the Padma Shri award for his contribution to industry - the first industrialist from South India to be given this honour. His brothers, K.M. Cherian, K.M. Philip and K.M. Mathew and nephew Mammen Mathew are also Padma Shri awardees. The eldest brother K.M. Cherian is also a Padma Bhushan recipient. Madras Rubber Factory, or MRF, is a major manufacturing company located in Chennai, India. MRF is mainly involved in making vehicle tyres. It is India's largest tyre manufacturing company, and among the dozen largest worldwide [1]; it exports to more than 75 countries. Established in 1946 by K. M. Mammen Mappillai, the 228

company has grown to become a INR 30 billion enterprise. It is also involved in a range of other activities via subsidiaries. Funskool India, a joint venture between Hasbro and MRF, is a major toy manufacturing company in the country. MRF Pretreads offers world class precured tyre retreading service, and MRF Muscleflex is involved in making conveyor belts. It is presently under the leadership of Vinoo Mammen, son of the late K.M. Mammen Mappillai. MRF has been involved in the development of cricket through its sponsorship of many cricketers and MRF Pace Foundation. MRF is the bat sponsor of world-class batsmen including Brian Lara, Sachin Tendulkar, and previously sponsored Australian captain Steve Waugh during his playing days. MILE STONES FOR MRF 1946 A young entrepreneur, K. M. Mammen Mappillai, opened a small toy balloon manufacturing unit in a shed at Tiruvottiyur, Madras (now Chennai). 1949 Although the "factory" was just a small shed without any machines, a variety of products, ranging from balloons and latex-cast squeaking toys to industrial gloves and contraceptives, were produced. During this time, MRF established its first office at 334, Thambu Chetty Street, Madras (now Chennai), Tamil Nadu, India.

1952 MRF ventured into the manufacture of tread rubber. And with that, the first machine, a rubber mill, was installed at the factory. This step into tread-rubber manufacture, was later to catapult MRF into a league that few had imagined possible. 1955 MRF soon became the only Indian-owned unit to manufacture the superior extruded, non-blooming and cushionbacked tread-rubber, enabling it to compete with the MNC's operating in India at that time. 1956 The quality of the product manufactured was of such a high standard that by the close of 1956, MRF had become the market leader with a 50% share of the tread-rubber market in India. So effective was MRF's hold on the market, that the large multinationals had no other option but to gradually withdraw from the tread rubber business in India. 1961 With the success achieved in tread rubber, MRF entered into the manufacture of tyres. MRF established a technical collaboration with the Mansfield Tire & Rubber Company of USA. Around the same time, it also became a public company. It set up a pilot plant for tyre manufacture at Tiruvottiyur, Madras (now Chennai). 1963 On June 12, 1963, India's first Prime Minister, Late Pandit Jawaharlal Nehru laid the foundation stone for the Rubber Research Centre at Tiruvottiyur to commemorate the inauguration of the Tiruvottiyur factory. 229

1964 With the commissioning of the main plant in 1964, MRF also made progress in the export of tyres. An overseas office at Beirut (Lebanon) was established to develop the export market, and it was amongst India's very first efforts on tyre exports. This year also marked the birth of the now famous MRF Muscleman. 1967 MRF became the first Indian company to export tyres to USA - the very birthplace of tyre technology. 1973 MRF scored a major breakthrough by being among the very first in India to manufacture and market Nylon tyres passenger tyres commercially. 1978 MRF developed the MRF Superlug-78, a sturdy tyre for heavy-duty trucks. The tyre was a significant improvement over its existing products, and went on to become the country's largest selling truck tyre in later years.

1979 MRF's turnover crossed INR one billion. 1980

MRF entered into a technical collaboration with the B.F. Goodrich Tyre Company of USA, which was involved with the development of tyres for the NASA space-shuttle. With this began a significant exercise in quality improvement and new product development. MRF took a major policy decision to be aggressive on the racing circuits.

1983 MRF began a rapid product development programme for new vehicles entering India. 1984 Sales crossed INR two billion. MRF tyres were the first tyres selected for fitment onto the Maruti Suzuki 800 India's first small, modern car. 1985 MRF Nylogrip tyres for two-wheeler vehicles were launched. 1986 MRF was selected by the National Institution of Quality Assurance for their most prestigious award. Pitted against 20 tyre companies worldwide, MRF also won 6 Quality Improvement Awards instituted by the B.F. Goodrich Tyre Company from USA. 1987 230

MRF crossed the INR three billion mark and also became the No. 1 tyre company in India. MRF Legend, the premium nylon car tyre was introduced. 1988 The MRF Pace Foundation was set up, with international pace bowler, Dennis Lillee as its Director. Not long thereafter, pace bowlers trained at the Foundation were selected for the Indian Cricket Team. 1989 By 1989, MRF was the clear market leader in every tyre segment. Once again, in recognition of excellence, MRF was awarded the Visvesvaraya Award for the Best Business House in South India and the Economic Times Harvard Business School Award for the Best Corporate Performance. MRF collaborated with Hasbro International USA, the world's largest toy makers, and launched Funskool India. The company also entered into collaborations with Vapocure, Australia to manufacture polyurethane paint formulations and with Pirelli for MUSCLEFLEX Conveyor & Elevator Belting. 1989 MRF launched the MRF ZIGMA CC Radial synchronising with the MRF World Series Cricket Tournament for the Jawaharlal Nehru Trophy sposered by the company. The Chief Minister of Tamil Nadu, Dr. M. Karunanidhi, awarded MRF the Special Export Award. MRF also opened the MRF Tyredrome, India's first tyre companyowned wheel care complex at Madras (now Chennai). 1990 MRF brought the 6th World Cup Boxing Championship to Mumbai - the first of its kind - with 39 countries participating. The event was telecast live on TV networks worldwide. 1993 K. M. Mammen Mappillai was awarded the Padmashri Award of National Recognition for his contribution to industry - the only industrialist from South India to be accorded this honour until that time. MRF also became the first tyre company in India to cross the INR 10 billion mark. In addition, the company was voted by the Far Eastern Economic Review, as one of the ten leading Corporate Groups in India and a Leader in Asia. MRF was selected as one of India's most admired Marketing Companies by the readers of the A & M magazine. 1995 The company's turnover crossed INR 15 billion. MRF was chosen for fitment on the Daewoo Cielo. This year too MRF was voted by the Far Eastern Economic Review as one of the 10 leading Indian Companies. 1996 In the Golden Jubilee year, MRF's turnover crossed the INR 20 billion milestone. A special factory dedicated entirely to the manufacture of radials was started at Pondicherry. MRF Tyres were also chosen for fitment on the Ford Escort, Opel Astra and Fiat Uno. Further proof of its superior quality. 1999 231

MRF was declared the most ethical company by "Business World" magazine in its survey. 2000 MRF launched the Smile campaign on Indian roads. 2004 MRF's turnover crossed INR 30 billion mark.

T. T. KRISHNAMACHARI PRESTIGE PRESSURE COOKER One of the makers of modern India, T T Krishnamachari was the son of a district judge. He chose to be different from the usual middle-class crop who were either lawyers, teachers or Government servants. He wanted to be businessman. Starting at 20, he became an apprentice under A R Doraisami Iyengar, who was running an indenting firm in Madras representing the Lever brothers, selling soap and oil. TTK had a highly successful sales career, selling soap door to door. The popularity of Sunlight soap in the South can be credited to the efforts of TTK. After the death of Doraisami Iyengar in 1928, TTK was awarded the agency by Lever Brothers. In that year he set up T T Krishnamachari & Co. TTK changed the very nature of selling as it was known then. From booking indents, he moved the company to stocking and selling directly to dealers in several towns. This meant the opening of depots, setting up a sales organisation, and introducing new accounting practices. The concept of redistribution, of taking the goods from dealers to retailers was introduced by TTK & Co. What seems commonplace today were all TTK's daring innovations. He conducted market survey to study customer preferences, he adopted unique methods of sales promotion and advertising like skywriting, distributing leaflets by air-dropping them, giving away attractive calendars. TTK realised the potential of rural marketing decades ago. He organised rural fairs and melas and prize schemes to attract customers. The company was well established by mid-thirties and in 1936, he entered politics. Once he joined the Congress, he gave up everything else and went on to lay the foundations for the economic and industrial infrastructure of the country. He was a member of the draft committee of the Indian Constitution. He was also the Union Minister of Commerce and Industry (1952-56) and Iron and Steel (1955-57). But it was as Finance Minister in Jawaharlal Nehru's Union Cabinet (1963-65) that he made his biggest contributions to the nation. The TTK Group is an Indian business conglomerate with a presence across several segments of industry such as consumer durables, pharmaceuticals & supplements, bio-medical devices, maps & atlases, Consular Visa Service websites and healthcare services. The TTK Group has been associated with several brands, which are now household names in India, such as Prestige Pressure Cookers, fryums ready to eat snacks, Woodward's Gripe Water, Kohinoor condoms, Brylcreem and Kiwi Shoe polishes and lately into medical insurance claim processing.

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The TTK Group has a combined turnover of over Rs. 10 billion with presence across India and several international markets. TTK products are quality certified by the world's leading certifying bodies, and the group's joint ventures are with leading global corporations, such as the SSL International UK, makers of Durex condoms and Dr. Scholl's foot care products. The TTK Group has a keen sense of social responsibility, and funds several charitable and social organizations, such as the TTK Voluntary Blood Bank, the TTK Hospital for Alcohol & Drug Addiction, TTK Schools for the underprivileged and even a strong association with the Chennai (Madras) Music Academy. The TTK Group was started in 1928 by T. T. Krishnamachari, and is still largely owned by the family. Dynamism and innovation are the two words that come to mind when you think of the TTK group. Set up by T T Krishnamachari in 1928, the group started out as an indenting house (importing and distributing foreign goods) and became a distributor of several popular consumer products with world renowned brand names like Woodward's, Cadbury's, Lever's, Ovaltine, Pond's, Kellogs, Brylcreem, Beecham, Waterman's, Shaeffer's, Sunlight and many more. The TTK Group evolved from a trading concern to a manufacturing outfit in the '50s under the guidance of its former Chairman, T T Narasimhan. Ever the visionary, he pioneered the manufacture of pressure cookers and condoms in the country. He made the company a force to be reckoned with, by setting up numerous medium and small units, to manufacture products that helped make life easier for millions of homes in India. The TTK Group is a multi-product, multi-unit, multi-locational conglomerate with a turnover in excess of Rs 5,000 million. It has a workforce of nearly 6,000 in its manufacturing units and nationwide branches. The group is now headed by T T Jaganathan, Chairman and Managing Director. The Group as it stands today, is a strong international player. The Company exports goods worth several millions to over 40 countries. It has also successfully undertaken turnkey projects in Vietnam, Bangladesh and Uganda. The Group comprises the following companies:

TTK Prestige Limited TTK Healthcare Limited TTK-LIG Limited TTK Textiles Limited Sara Lee TTK Limited TTK Maersk Medical Limited

TTK Healthcare is committed to providing customers with innovative "value for money" solutions and improving their quality of life. The Company's brand wagon consists of products that are sought after by a wide range of customers. The Woodward's Gripe Water brand is the market leader in the baby care category. The Eva range of personal care products (Talc, Deodorant, Skincare) bring together the gentle touch of nature, backed by TTK's extensive research. TTK Healthcare has an All India Sales and Distribution network for marketing not only their own products, but also the KIWI Brand (Shoecare), Brylcreem (Haircare) and Kohinoor and Durex brands (Contraceptives). The Company also specializes in sales and distribution in India as a joint venture partner. It has a successful tie up with Sara Lee Household and Bodycare Pvt. Ltd. and TTK-LIG Ltd. The Company's distribution network comprises of 2800 redistribution stockists who cover both the urban and rural consumers. M A CHIDAMBARAM SPIC

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M. A. Chidambaram (born 1918-10-12 - died 2000-01-19 in Chennai) was an Indian industrialist and cricket administrator. M. A. Chidambaram (or MAC, as he was fondly called) was the third son of businessmen Dr. Rajah Sir Annamalai Chettiar, the founder of Annamalai University. He started off with a scooter factory in Mumbai and later became the Director of the Indian Aluminium Company at a young age. He was instrumental in founding the Southern Petrochemical Industries Corporation (SPIC) and served as the chairman till his death. He was the Mayor of Madras in 1955. MAC became the Vice President of the Board of Control for Cricket in India (BCCI) in India in 1956, President from 1960-61 to 1962-63 and treasurer for about twenty years. He was the head of Tamil Nadu Cricket Association (TNCA) for 32 years. He was also the President of All India Lawn Tennis Association from 1963 to 1966. He played a significant role in the negotiations between the TNCA and the Madras Cricket Club over the construction of a stadium on the Club's ground in Chepauk. Completed in 1980, this stadium was later named M. A. Chidambaram Stadium in his honour. Chidambaram was the son of Raja Annamalai Chettiar, a noted businessman and philanthropist. His son A. C. Muthiah was also a President of BCCI. Besides being a pioneering industrialist, MAC is also remembered for his contribution to several other fields. He started the Tamil Isai Sangam to promote music in Tamil. His trust contributed substantially to the Voluntary Health Service started by Dr K. Sanjeevi. KASINADHUNI NAGESWARA RAO- AMRUTANJAN Kasinadhuni Nageswararao, better known as Nageswara rao pantulu was rare combination of a journalist, nationalist, politician, a staunch supporter of Khaddar movement and an enthusiastic pioneer in library movement in Andhra. His participation in Indian freedom movement and in Indian National Congress Party was historical. He was one of the Andhra veterans who took part in Mahatma Gandhis Civil Disobedience movement through salt satyagraha. It is no wonder that his life-long exertions in such diverse fields in the service of the nation has earned him the honorific prefix Desoddharaka (uplifter of the masses), conferred on him by the people of Andhra Pradesh as a mark of their great respect and appreciation of his services to Andhra and to India and the special title of Kalaprapurna (doctor of Literature) which was conferred on him by the Andhra University in 1935. Birth and Education Nageswararao Kasinadhuni, popularly known as Nageswararao Pantulu, was born on May 1, 1867 in Elakurti village in Krishna district of Andhra to a Brahmin couple Bucchaiah and Shyamalamba. He received his early education in his native place and later at Machilipatnam. He graduated from Madras Christian College in 1891. There he was under the stewardship of that great educationist, Dr. Rev. Miller, whose ability, high standards and rigid discipline made it a premier institution of the South. Kandukuri Veeresalingams articles in vivekavardhini Journal influenced him. [edit] Business After a brief stint in business in Madras, he went to Calcutta to work in an apothecary for some time. Later, he went to Bombay to work in an office. But, he couldnt stick around there. He was interested in starting his own business. He founded Amrutanjan Limited in 1893. He invented amrutanjan pain balm. Within a short time amrutanjan pain balm became very popular medicine for all pains, colds, sprains, lumbago etc. and made him a millionaire. Today, Amrutanjan Limited has established R & D, fine chemicals division, and infotech divisions. 234

Amrutanjan became a public limited company in 1936.Since then there has been no looking back.The company is constantly upgrading its technology to cater to the growing market. Always a winner Amrutanjan has a wide range of Ayurvedic and Allopathic products ranging from pain balms of various strengths to revitalisers. Amrutanjan has helped millions of people to relieve themselves of pain and discomfort of headache, cold, sprain, muscular pain, rheumatic pain and lumbago. The prime product of the company is Amrutanjan pain balm. This product enjoys the confidence of millions of people and is always a winner. Enviable R & D The company has ambitious R & D team. Its commitment to give only the best to its customer is reflected in its focus on R & D. The company has two health care products manufacturing units, one at Chennai and and the other at Hyderabad. Managed by a highly qualified team of scientists and other professionals, the R & D center, that houses a laboratory in addition to a library, has great for the future. Marketing network The company has a wide and well established network of distribution and caters to the needs of its customers promptly and effectively. There are about 3.5 lakhs retailers and 1750 stockists all over India. Exports Amrutanjan has been regularly exporting to the Middle East, African and neighbouring countries. Arrangements are also being made to enter into the U.S. & Europe markets.

Shri Gangabisanji Agrawal - Haldiram's

Haldiram's started in Bikaner, India is one of India's largest sweets and snacks manufacturer. Haldiram has its establishment in many parts of India viz Delhi,gurgaon,Nagpur etc.

History
Haldirams was started by Shri Gangabisanji Agrawal alias Haldiram Agrawal in 1937 in Bikaner. It is presently headquartered in Nagpur in Maharastra and has regional offices in Mumbai, Bangalore , New Delhi and Chennai

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[edit] Products
Indian Sweets, Namkeens (Savories), Salted Snacks, papad, 3-D Snacks, 3-D Pellets, Vermicelli, Pasta & other ready to eat snacks, which are sold under the brandnames Haldiram's & M o'pleez Ranked on 98th in overall ranking in the "India' Most Trusted Brands 2003" Survey done by A.C. Nielsen ORG MARG commissioned by " The Economics Times" Its products are exported to several countries worldwide including Canada, Australia, Srilanka, Singapore, Malaysia, South Africa, Indonesia, Qatar, Hongkong, Japan, Kenya, North Korea, Nigeria, Mauritius, United Kingdom, Zambia and Bahrain. In additional to these packaged products, Haldiram has its own outlets where it sells sweets and eatables. It also has a range of restaurants in and around Nagpur. Raj Kachori is one of the most popular snacks sold by Haldiram's, often eaten mixed with different kinds of sweet and sour chutneys.

Organisation Memberships
Haldirams is a member of the following food associations from India and abroad:

APEDA (Agriculture and Processed food Products Exports Development Association) India ITPO India Trade Promotion Organization (Application submitted) SFA (Snack Food Association Virginia, U.S.A.)

Arun Firodia- KINETIC ENGINEERING

In November 1998, when the Firodia family-controlled Kinetic group parted ways with the Honda Motor Company of Japan, its partner in Kinetic Honda Motor Ltd, it created a wave of speculation. People asked: what had led to the parting of ways? had the Kinetic group acted rashly? would the company go downhill, now that it did not have the Honda expertise? "It was a sweet deal," says Sulajja Firodia Motwani, joint managing director, Kinetic Engineering Ltd, daughter of chairman Arun Firodia, who is obviously happy with the new arrangement. If the aggressive plans work, she will be vindicated in believing that this parting is sweet but no sorrow. Kinetic Honda was formed in 1984 as a joint venture between the Kinetic group and Honda, each holding 28.56 per cent of the equity. In 1993 Honda Motor increased its stake to 50.92 per cent. Then, in November 1998, after protracted negotiations, in which Honda tried to take over completely, and the Firodias refused to surrender, Honda sold its shares to the Kinetic group for Rs 35 crore, at Rs 45 a share.
Strategic degrees of freedom

Why did Kinetic buy out Honda Motors' holding? "Kinetic is an established two-wheeler manufacturer. The two-wheeler market is set to grow 10 to 15 per cent in the next decade. We want to take a bigger slice of this market," says Ms Firodia Motwani. The parting of ways with Honda is part of this strategy.
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"We had a lot of things going for us -- our name, as an established and trusted two-wheeler manufacturer, the name of the Firodias, which was built by my grandfather H K Firodia, the values we represent -- we had the technology, the capability, the brand," she says. Kinetic Engineering has been a maker of mopeds for decades. Its Luna brand has become a generic term, synonymous with mopeds, the de-rated motorcycles that have served millions of middle class households in India who needed personal transport but couldn't afford a motorcycle or scooter. The group began making scooters through the joint venture KHML in 1984, the Kinetic Honda DX and later ZX. Kinetic Engineering too launched a 'scooterette', the Kinetic Pride. Three years ago, Kinetic Engineering entered the step-through motorcycle segment with the 100cc four-stroke K4. A 73cc scooterette, Style, is now on the launch pad. Soon, the company will enter the motorcycle segment with two motorcycles with Hyosung-designed engines, and UEN designs. "It is our intention to establish ourselves equally strongly in every segment of the market," says Ms Firodia Motwani. And that was where the rub was. The agreement with Honda was too restrictive. It didn't allow the group to grow in desired directions. It's pertinent that in all the years that Kinetic Honda had been operational, the company came out with only two models, the second one, Kinetic Marvel, coming a full decade after the first model. The arrangement with Honda was seen as not being able to capitalise on the product strengths, especially in the important north Indian markets. Analysts felt the company could have done much better had it been more aggressive in its marketing. Kinetic knew it was critical to have a diverse and strong product portfolio. "The two-wheeler market had become very personalised. The two-wheeler is no longer seen as a family vehicle, but as a personalised, individual vehicle. So we needed to address each of these segments with different, niche products. "Our joint venture agreement with Honda stipulated that Kinetic Engineering Ltd would not make scooters. And because Honda had a joint venture with the Hero group to make motorcycles, we could not make motorcycles. That left us only with mopeds.
Strategic degrees of freedom

"Making only mopeds was not in line with our planned strategy for product diversification. We had to be into motorcycles, we had to be into scooters, so this acquisition of our shares was critical. We had to have the size, muscle. And a lot of freedom to make our own programmes. Besides, Honda Motors had its own plans for a wholly owned subsidiary," says Ms Firodia Motwani. "We wanted Kinetic Honda back because it gave us some critical strengths. First, size. Instantly our sales jumped from Rs 200 crore to Rs 600 crore. With combined sales of 600 crore we can invest about Rs 30 crore in advertising and brand building. "Secondly, it also gave us our brand name back. Thirdly, it strengthened our distribution, and, fourthly, it gave us a readymade entry into the scooter market. Which was essential in order to make progress on the product portfolio. Fifthly, it gave us freedom to grow." It was with these basic objectives that Kinetic sat down at the negotiating table with Honda. "It didnt look like we would swing it. We thought they would even pressure us into selling our shares, but we managed," says Ms Firodia Motwani. By the end of 1998, Kinetic Honda Motor Ltd was fully a Firodia group company, and was accordingly renamed Kinetic Motor Company Ltd. Now it's time for building on the synergies that the Kinetic group had identified in the first place.
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