Twist in the bored’room tale!

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Reducing the count of Independent Directors in public companies will only encourage foulplay...

‘Independence’ – a much touted term that India Inc. seems to be displaying little affection for, despite the fact that we’ve proudly celebrated a glorious 60th year of our Independence. And just you might be trying to figure out reasons why we made that particular statement, allow us to throw light on the grave issue of ‘Independence’ confronting India Inc. at the moment.... With rise in count of ‘independent directors’ & stricter norms of ‘corporate governance’ resonating across all boards of India Inc. as the most compelling want from stakeholders, the Securities and Exchange Board of India (SEBI) is toiling hard to prove the contrary! The new Companies Act, under clause 49, might empower SEBI to lower the mandatory count of independent directors on a company’s board of directors to just 33%, from the current levels of 50%! Where on one hand, a higher standard of corporate governance is an issue most imperative, India Inc. is witnessing a new roadblock and in a fashion which is anything but conducive for overall growth.

Also, considering the fact that even those who provide funds to an entity (like creditors, shareholders, securities investors et al) draw comfort from transparent & effective governance processes in the recipient entity, the relaxed corporate governance norms would adversely affect India Inc’.s capital raising capacity – something which wouldn’t receive smiles from the acquisition-hungry India Inc.!

True, questions have been raised concerning the effectiveness of independent directors on corporate boards – with the Enrons and the WorldComs breaking myths surrounding the same – it cannot be denied that independent directors on boards can be a most effective mechanism to ensure no marginalisation of the interests of other company stakeholders just as Jayant Pai, Market Analyst, explained to B&E, “Independent directors are supposed to bring about a sense of objectivity in decision making as they will not be obliged to favour the existing management. Hence, the rights of minority shareholders may be better protected...” Then there also stands the question that while on one hand, world’s leading economies – in the EU, Asia & the Americas – have rightly increased the minimum proportion to 50%, then why should India act otherwise?! As a matter of fact, post-2003, NYSE & LSE raised the minimum limit for proportion of independent directors on a public enterprise’s board from 33% to a better 50%! So to ask again – why should India lower the limit?!

Clearly, as India moves ahead as a global superpower, corporate governance is one aspect where it scores a tad lower as was proven by the corporate governance rankings given by the Political and Economic Risk Consultancy, which stated that while “in Asia, Singapore oft en holds high positions, China and India rank closer to the bottom”! Surely, lower count of independent directors on the board of public companies will lead to a diminished rationality in the entire management decision-making process as even a recent report by the European Commission proclaimed that lower count of independent directors increase the costs for the company and risk of abuse.... So while SEBI looks forward to decreasing the limit for India Inc. and while Damodaran, its chairman remains apprehensive about the effectiveness of independent directors, the fact still remains – well governed is indeed well run!!!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM, ADMISSIONS FOR NEW DELHI & GURGAON BRANCHES
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36TH Full Time Programme In Planning & Entrepreneu...

Mi‘n’das Touch?!

IIPM, ADMISSIONS FOR NEW DELHI & GURGAON BRANCHES

We hear that the auto giants are zooming ahead. We asked further – and the part-makers?

Confidence, arrogance, flamboyance…. and well, a brave vision to top it all up – that to say the least defines the Minda Industries, and its chief commandant N.K. Minda, Managing Director of Nirmal K. Minda Group, as well. Well, talk to him and you could sense an impossibly self assured leader who talks with such certainty about his company’s outlook. But when he starts discussing the statistics, one realises the basis for his extraordinary confidence, as he outlines how, after having scaled the $200 mllion turnover mark during 2006 (with 20% contribution through exports), the Minda Group could now pin its hopes on an annual revenue growth of a smashing 40%!

So the question really was – how long would it be before the Minda see the $1 billion turnover summit being conquered? And how does it plan to reach there? As a knee-jerk response, Nirmal thumped, “We want to be No.1 in our product categories. We want to be among the top three in our business line. To achieve it, we need to focus on quality & R&D. So R&D is our major concern, we need to spend time with our engineers.” Talking about where the entity could reach in the mid-term, he explained, “Definitely, we see ourselves in the top 10 or top five for that matter in the near future. Consider a time line of about seven years as we have a roadmap till 2014…” So there you are – all eyes set on the top slot within a decade! But then would the relentless development last long enough for Minda?

To make situation clearer, we decided to understand the whole development in the light of what was happening in the industry. It is estimated that the Indian component industry will be worth a sensational $19 billion by the end of the decade – representing a thrilling 90% growth from the present size! Not surprisingly, with the terrific forecasted growth in market size (with penetration of cars being just over 0.7% today) and with global automotive manufacturers setting up shops and manufacturing units in India, things will only get better by the day for the Mindas Group & the ancilliary industry. Today, the auto component’s net worth stands close to $10 billion with a total of 246 registered players (out of which 90 are listed). Sure enough, getting ahead of this crowd will require sustained focus and long term growth plans rather than just a wild rush of adrenaline. But then of course, considering that the net sales of the industry as a whole even today lies close to Rs.7.88 billion (with a PAT of $0.51 billion), the industry is well-established and only waiting to rise higher. Consider this – the absolute value of exports by Indian component industry is all set to touch a glorious $25 billion by 2014 – mammoth by all standards! However, Minda Group (at a 40% CAGR) will have to run faster than its competitors, as industry growth today is just 30%.

Talking about other initiatives, with $600 million already invested (total planned outlay being $1 billion by 2010), the Minda Group also plans to enter the fast evolving automotive battery segment just as Nirmal divulged exclusively to B&E, “With high growth being witnessed in the sector, ‘batteries’ are also a big business. We are also setting up a new plant in Pantnagar for the manufacture of complete handle-bar assembly. The Minda Group has earmarked $52 million as capex for setting up new plants, expansion of existing facilities and mergers and acquisitions alone…” For the same purpose, a huge 4 million annual capacity plant will be set up in Uttrakhand.

Besides the promises, there are other issues playing on Minda’s mind; investments in R&D being the primary. With big-ticket clients like Audi, Aprilla, Honda, Daimler & Chrysler, it becomes mandatory for the company to showcase unbeatable R&D capabilities both in the short and long-term. Displaying consciousness, a confident Nirmal expressed his intentions to raise the bar for the same to B&E as, “We spend 3% of our turnover on R&D and we hope to increase this to 5% soon. Such is our commitment towards quality that we are the first auto component company from India to set an engineering office in Japan. It shows that we have a policy of moving to various markets.”

Where R&D comes in, innovation must follow. However, the Minda Group displays enough might here as its commitment to innovation is displayed through its international tie-ups with names like Tokoi Rika Japan, TYC Brothers, Valio & FIAMM Spa. Is it any surprise then that 77% of net sales comes from ‘high quality’ demanding OEMs! And Markus Leitner, Director (Corporate) Fitch Ratings, confirms for the positive as far as a stress on innovation is concerned as, “Yes, Indian ancillary & component manufacturers are increasing competition for Western manufacturers…” Hence, where on one hand, localization and cost efficiency are factors which make for a conducive environment, insufficient innovation is seen as a deterrent. But with its latest initiatives, the Minda Group is also set to heal all shortcomings & ensure a better future.

Then there is the depreciating dollar which is seen as a threat to a player like Minda which relies greatly on exports (no surprise as a mighty 20% of its revenues are accounted for by exports alone!). But look deeper and you’d realize how the shrewd entity has managed to go round this cross-currency trap. When B&E investigated, it was revealed that its major export market was Europe – ensuring that a stabler Euro made living easy. However considering that biggest global auto players like GM & Ford operate in the US market, ignoring a volatile dollar will surely not make that $1 billion revenue mark easier to attain!

In the face of cut-throat competition, the company has always embarked upon a revolutionary business model. The company recently rolled out its ‘FMCG model’ which stresses on intensive distribution networks, in order to cater well to the aft er-sales market. The company has chosen the state of Tamil Nadu for the pilot project due to its high density of organised market. Surely, despite being the market leader in switches and apparently the sole organised player in fuel kits for cars, it will have to understand that existing in a high growth industry produces as many challenges as opportunities. Lower margins, stress on innovation & lack of technical expertise will play the devil…. And given that the $1 billion mark is not too difficult given an optimistic outlook, the truth is that ‘while all world’s a stage’, there are many actors too!” And Nirmal needs to get his corporate wheels moving faster…

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Still in ruins...

ARINDAM CHAUDHURI’S 4 REASONS WHY YOU SHOULD CHOOSE IIPM...

Only hope remains for this nation

Kyrgyzstan is inflicted with both political unrest & economical strife. With 40% population existing below poverty line in 2004 & with the country’s economy exhibiting a minuscule 1.4% growth in the following year, Kyrgyzstan’s economy is in for a serious toss. The capacity of Kumptor gold mine to which Kyrgyzstan owes about 10% of its GDP, will also fizzle out in a few years & it is said that the authorities have taken a wrong decision about the profit yielding mine. The political furor & the economical ruckus of Kyrgyzstan are apparently in direct proportion to one another as a consequence to which protests & loot preceded by demonstration against President Asker Akayev seems to be the root of all the chaos. The famous Tulip Revolution of 2005 forced him to flee to Russia but even after his departure, situation hasn’t improved. There is a speculating of a second revolution because of their inability to foresee any prosperity for the country’s future. Nothing but an aggressive cultivation of congenial foreign relations teamed up with a vehement effort towards political stability will metamorphose Kyrgyzstan’s economy.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The Business of B-School Rankings & The Big Farce
36TH Full Time Programme In Planning & Entrepreneu...

Pfizer aiding for an AIDS-free world...

ARINDAM CHAUDHURI’S 4 REASONS WHY YOU SHOULD CHOOSE IIPM...

Pfizer Inc. will now bring out a new class of oral HIV medicines after the much awaited approval from the US regulators. The drug Selzentry is the first of its kind to keep the HIV virus that causes AIDS from getting inside healthy immune cells, the ones that came before the attacking virus! It’s also known as Maraviroc, which helps block the CCR5 co-receptor serving as the main entry for the HIV virus into immune cells. This drug can be used in patients who have used other medicines and for those for whom a test has made it sure that their HIV strain is associated to the CCR5 receptor. Precisely about 50% to 60% of all patients who have been treated with other AIDS drugs meet that definition. With the advent of this new drug, life expectancy for an HIV carrier patient is expected to rise further.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM :- Cicero's Challenge is going global
The Indian Institute of Planning and Management (I...
After CDMA, will nokia miss the 3G bus ?
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The Business of B-School Rankings & The Big Farce
36TH Full Time Programme In Planning & Entrepreneu...

Disney ‘Club’bing with ‘Penguin’

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Club Penguin is now a property of Walt Disney after it was bought for $350 million in cash. The price may further escalate by the same amount depending upon the earnings posted by the website in the coming two years. Club Penguin is a virtual world for children where they dress, control & communicate via resident animated penguins of the icy world. Chief Executive Robert Iger hopes that this new venture would contribute significantly to Disney’s bottom line figure in the first year. Good television programme sales and increased receipts from theme parks boosted Walt Disney’s performance as it had a 4.7% increase in its net profit.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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ARINDAM CHAUDHURI’S 4 REASONS WHY YOU SHOULD CHOOS...IIPM :- Cicero's Challenge is going global
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A well ‘tay(i)lor’ed story!

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Taylor Hicks has been all smiles lately. First, he won the Season 5 of American Idol, & then got voted as People’s 2006 Most Eligible Bachelor! And by the looks of it Taylor’s really enjoying his bachelorhood! The very private Hicks was seen having a gala time with a blonde babe at a Hawaii beach. It wasn’t long before the Soul Patrol identified the lady to be Caroline Lyders, anchor the morning show of WISN TV – 12 News This Morning. Pictures of the duo canoodling at the beach have aroused pretty much everybody’s curiosity but for now Lyders has brushed off the hook-up with the usual ‘We’re just friends’ line. Well actions speak louder than words!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The deal in perspective

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In the recent past however, even Jet Airways has been caught unawares by the entry of new and aggressive competitors; notable among them being Air Deccan and Kingfisher Airlines. The former’s low cost positioning and the latter’s unique branding and value proposition succeeded in establishing, beyond doubt, that there is definitely space for more players in the untapped aviation market.

Surely, when faced with such a barrage of competitors, this acquisition comes as a masterstroke to achieve tremendous scale and size. But is it size in terms of fleet? Why, certainly not! Air Sahara’s entire ‘fleet’ comprises of leased aircraft, and that is one reason why analysts are surprised with the price offered for acquisition. Dr. Mallaya agrees. According to him, Kingfisher found $500 million too much for Air Sahara, since all aircraft s were on lease, and there was no guarantee of transfer of overseas rights or the infrastructure to the acquirer.

The competition is definitely not looking overtly worried with regard to the market share issue. According to Captain G.R. Gopinath, Managing Director, Air Deccan, “We are at the bottom of the pyramid, and hence, not concerned... The merger could make it difficult for other airlines which are competing with Jet.” Air Deccan’s focus, as Captain Gopinath further elaborates, will be to “concentrate on connecting new or unconnected sectors and optimising costs to offer lower airfares.”

But with Jet’s acquisition, Kingfisher, along with other players, has expressed clear concern over infrastructure issues. Jeh Wadia, MD, Go Air, puts it in a nutshell, “India has a shortage of infrastructure, especially in terms of night parking, take-off and landing slots and check-in counters.” It is feared that Jet would unjustly exploit the already dilapidated airport infrastructure to its advantage. A major concern is for the Delhi-Mumbai route, which accounts for nearly 50% of air traffic in India, and Jet would now have access to 50% of the overnight parking bays at these airports, and Air India would have 35%; leaving just 15% for the others. Wadia elaborates, “A new airline requires minimum six aircraft s in a base in order to achieve economies of scale.” Else, the cost structure of the airline would shoot up; which means a certain entry barrier to new players. Now one can comprehend somewhat, why Jet has agreed to the high price.

Also, there is one other significant advantage that you won’t hear from the Jet camp. The company has been facing problems in getting the landing rights for the US, as it is accused of underworld links (an allegation yet to be proved). Jet can use Air Sahara as its dummy for its US operations, since the latter has these rights. But Jet officials would be in no mood to party yet, as the continuation of Air Sahara’s international flying rights is still subject to regulatory approval.

Apart from these, it will take quite some time to reap the benefits of operational synergies. Erstwhile Air Sahara flies to more than 26 destinations including its international portfolio of Chicago, London, Colombo, Kathmandu, Singapore, while Jet connects 43 destinations in India and international operations in Colombo, Kathmandu, Singapore, Kuala Lumpur & London. On the international front, there won’t be much problem, but the challenge will be rationalising the domestic routes and allocating additional resources efficiently.

One very critical battle will be on the human resource front, though Subrata Roy of Sahara group has affirmed that the Air Sahara employees won’t be on the losing side and their cadres and gross emoluments will remain unaffected (whether or not they are absorbed by Jet). Naresh Goyal, on the other hand, is clear that Air Sahara employees will be inducted purely on merit. Nevertheless, Jet cannot avoid the fact that it will require a substantial number of Air Sahara personnel to manage its extended operations. Since these employees have been nurtured under a totally different culture, their induction into the Jet culture will not be that easy.

Investors, however, looked pretty unfazed by these issues. As the deal was on, Jet’s share prices and trading volumes were scaling up day by day. On January 19, 2006 the day’s high was Rs.1169.8, higher than the peak prices for the previous three days. However, the price was languishing soon enough, closing at Rs.1003.55 on January 24.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The second Incumbent

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Or is he the second emperor? Anil Ambani remains the dynamism behind the spirit of Reliance

In the spring of 1991, when 50,000 guests crowded Anil Ambani’s wedding with Bollywood star Tina Ambani, no media pundit could have even dreamt that India’s first business ‘Family’ will one day disintegrate into truncated pieces. The flamboyant Anil then was the perfect foil for the taciturn and low key Mukesh. They were the classic ‘Brothers in Arms’. All that is history. Now, armed with a mandate from the mother Kokilaben Ambani, Anil is all set to jog his way to success and glory of his empire.

At the moment, Mukesh runs a business enterprise where the major competitors - if any - are in the public sector. Anil, on the other hand, faces stiff competition from big boys in the telecom and power business. The telecom business is the one that Anil might find the toughest to handle initially. Till the brothers’ fight became public, the only controversies about Reliance Infocomm were whispers about ‘not managing the environment’.

Then came the famous rift and the subsequent battle when Anil’s camp ‘leaked’ stories about the many ways in which Infocomm was conducting its business. The authorities promptly announced investigations into how Mukesh Ambani acolytes flagrantly violated the law. Now that Anil controls the business, his immediate headache may be to ward off a serious scrutiny of Infocomm dealings.

India’s mobile phone market is full of heavyweights like Tata, Bharati (Airtel), Hutch, BPL, Spice and Idea, to name just a few. Can Anil Ambani boast of deep pockets any more? As a unifi ed entity, Infocomm could simply behave like a typically younger sibling and guzzle money from parent Reliance. That option doesn’t exist any more.

No wonder, sceptics have begun to write off Reliance Infocomm as the first major Ambani venture (not counting their foray into media - the daily ‘Observer of Business and Politics’) that did not pan out. About 15 years ago, the same skeptics had written off Anil’s ‘page three’ marriage with Tina Munim.

Of course, Infocomm will soon be awash with money because of the imminent IPO. But then, the second emperor Anil Ambani has to ensure that Infocomm generates enough profits to pay dividends to shareholders who might jump ship otherwise. How would this empire generate fat profits beyond the Rs.54 crore (2004-2005 figures) at just 40 paise per minute calls? That’s the first real dilemma confronting Anil Ambani in his newly acquired telecom business.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Hero number 45!

IIPM BEST B-SCHOOL

Some thing was very peculiar about the launch ceremony of Hero Honda Splendor NXG in May 2007. It appears that Hero Honda (HH) made a deliberate attempt to appear ‘mass friendly’, so much so that every speech (on the launch) given by the top company officials carries a genuine concern regarding mobility and social empowerment. And why not, when Hero Honda prides itself as being the world’s single largest two-wheeler manufacturer (in terms of volumes), and produces 4.4 million units annually. With net profit of Rs.8.5 billion in 2006-07, the company boasts of 2,400 dealerships spread across the length and breadth of the country, a capacity of 13,000 units per day and operates from three different plants. States Brijmohan Lall Munjal, Chairman, Hero Honda, “This year, we sold 15 millionth two wheeler. That’s more than the entire population of a small country! In a span of two decades, this is a feat that few others in the global automotive industry have been able to achieve.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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IIPM : The Indian Institute of Planning and Management
IIPM is a best b-school. It is a business school of management. It's full name is The Indian Institute of Planning and Management. ...

IIPM: The Indian Institute of Planning and Management
IIPM's Full time & Integrated programs in National Economic Planning and Entrepreneurship are in a different league. Students are exposed to case studies ...

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Lacking the punch to scare us Indians out of our skins iipm are terms like ‘pollution’, ...... IIPM News > News in Media > The Political Criminal Circus ...

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IIPM is a Best B-School. It is a institute of business management. Its full name is The Indian Institute of Planning and Management. ...

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In terms of infrastructure, campus and technology support, IIPM is rated amongst the top institutes of the country. IIPM’s academic campuses in Asia are ...IIPM PUBLICATION: IIPM : Campus Placements IIPM students are winners all the way..." {Source: The Times of India, June 2002} "...the icing on the cake has proved to be the 100% placements of the ...

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Liability Products

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1. No-frills S.B. account: In support of the policy of financial inclusion, to enable the poor people who have so far had no access to bank facilities to open bank accounts, the scheme was launched. S.B. account with low minimum balance of Rs.5 can be opened. There is restriction on maximum balance that can be maintained and total amount of credits to prevent its misuse. The account holder is not provided cheque facility, ATM or Debit card facility. Insurance linked value added schemes:


1. IOB-Jeevan: It is a pure term insurance scheme. S.B. and C.D account holders can avail the scheme by paying a very nominal premium. Premium depends on age of the account holder. The insured cover is Rs.1.00 lac for normal death and Rs.2.00 lakh for death due to accident. Renewal will be done every year based on standing instruction by the account holder. The Insurance cover is provided by LIC of India.
   
2. Vidya Suraksha: Students of reputed degree and professional colleges and their parents are provided life insurance and health insurance cover against payment of nominal premium. Premium collected by college and remitted for a group of students. The student may or may not avail educational loan. The scheme developed in tie-up with LIC of India and United India Insur-Ance Co Ltd.
   
3. Vidya Jyothi with Suraksha: The students who take Educational Loan from us and the parents will be provided life cover by LIC of India for which premium is collected upfront which can be recovered along with instalment. In case of death of student or parent, loan outstanding is paid by Insurance company.
   
4. IOB-Health Care Plus: The account holder, spouse and two dependant children are provided Mediclaim insurance Cover for nominal premium. Even parents not more than 65 years of age can be covered for additional premium. The insurance can be renewed till the insured completes 80 years of age. The cover is serviced cashless at network hospitals by Third Party Administrators. Renewal is done by debit to account holder based on standing instructions. Cover is provided by United India Insurance Co ltd.
   
5. Liability Insurance: All retail loans with a residual maturity of 3 years and more can be covered by life insurance of the borrower. The cover is provided by LIC of India. One time premium payable, which depends on age loan amount and period of loan, is payable by the borrower which can be recovered along with Loan instalments. On death of borrower loan outstanding as per repayment terms is paid by insurance company.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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After a marathon year, it’s time for banks to run even harder. Will they overcome?

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The era of consumer profligacy has now finally arrived in India. And thanks to this new found spirit of indulgence, Indian banks have been smiling all their way to the bank! Statistics speak for themselves. Chetan Ahya, Executive Director, Morgan Stanley, India shares his view on the changing economic balance, “Led by leveraged purchases of new homes & automobiles, consumer debt in India has tripled, from four years earlier, to Rs.6 trillion or about 15% of annual GDP.” The Reserve Bank of India data indicates that on an average, one out of every four Indians is over-leveraged.

In FY07, banks harvested some of the best incomes and profits in the recent years. The earnings of PSU banks grew by a record 39% in the last quarter of 2007, while the figure was 24% for private sector banks. But consider a scenario, wherein the Indian consumers, who have been lately loosening their purse strings quite liberally, decide to hold back? What happens then to the fortunes of the banks? After all, it’s actually this huge appetite for money (no matter what the consequences are!), which is driving the top-line growth of the banking industry.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The telecom sector is witnessing impressive performance from all its verticals

IIPM PUBLICATION

Such is the lure of the Indian telecom sector that the world’s leading telecom companies are trying hard to become a part of this success story. While Vodafone has already acquired a controlling stake of 67% in India’s Hutchison- Essar for $11 billion, other players, like British Telecom and AT&T, have acquired National Long Distance and International Long Distance licences in India. The success of the Indian telecom sector is now also being recognised in the global telecom industry. Recently, while Bharti-Airtel became the first operator in India to enter the Global Top 10 telecom service provider list with a total subscriber base of 40 million (interestingly, 5.3 million of these subscribers were added in the month of May, 2007 alone), Reliance Communication (RCOM), on the other hand, is all set to spread its wings in both CDMA and GSM segment.

RCOM is not only ramping up its subscriber base at an impressive pace, it is also creating unparalleled value for its shareholders. The scrip has posted a signify cant increase from Rs.267 as on May 31, 2006, to Rs.505.05 on May 31, 2007. Apart from this, RCOM’s financial results also make it the fastest growing telecom company in India. The year 2006-07 saw RCOM book profits worth $734 million, an increase of 612%, when compared to the previous year.

Apart from heavy capital expenditure plans announced by the behemoths like Bharti-Airtel in 2007, the next line of growth in the telecom sector seems to be coming from smaller players like Idea and Spice Cellular. Though the sector is already witnessing notable performance from all verticals, the expansion of the smaller players would act as a propellant in making India the largest telecom market; ahead of US and China.




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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Juggling with controversies is her forte, but dealing with contradictions is certainly not her strength

On "IIPM - Arindam Chaudhuri - Planman"

The flowing mane of Rajasthan Chief Minister Vasundhara Raje (fondly called Vasu by friends) symbolizes her inherent traits – unbound and free-fl owing. Even in the face of the worst crisis of her life – the violent Gujjar agitation – Raje was unwavering. Whether it was her controversial lip-lock with Biocon chief Kiran Mazumdar Shaw or the hackles raised about her catwalk (as Union Minister of State for Small Scale Industries) at a Bangalore fashion show to promote Khadi, Raje has always faced challenges with a dauntless front.

Be it her marriage or separation, personal life or political career, she has always been as far away from controversies as her own shadow. She holds a unique distinction of being a Maratha Rajput by birth and a Jat by marriage, who married her son in Gujjar community. If these factors contributed in lobbying all these influential communities behind her in 2003 Assembly elections, leading to the biggest ever victory for BJP in Rajasthan, the slippery caste equations may prove to be her nemesis as well. She was again in the center of storm last month after one of her supporter-MLAs depicted her as Goddess Annapurna in a calendar widely distributed in the state. An FIR was registered against her and the MLA – not by an opposition Congress leader but by the wife of BJP stalwart, Jaswant Singh, (leader of opposition in Rajya Sabha.) “I am not answerable for acts of somebody else, not even of my wife, who exercises her franchise and applies her own mind,” reasoned Singh. But the act betrays a sense of discontent against Vasundhara’s “sycophantic” leadership.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Juveniles not criminals...

Can there be something more inhuman than when juveniles are being lodged with adults and hardened criminals on the lame excuse that there is a shortage of custodial facility? Shockingly, there are numerous cases where police sent juveniles to jail even when they are eligible for bail, and are not given to circumvent extra paperwork. Asian Center for Human Rights has revealed that the Capital, Delhi, had 3,050 juvenile cases pending in 2005 and there was only one juvenile justice board, Kingsway Camp. These resulted in massive number of inmates being incarcerated longer than the time prescribed for offence.

The largest democracy, India, is desperately suffering for its weakest laws and a Juvenile Justice Act, 1986, undoubtedly is one of them. The outcome of recent amendment (enhancement of age 16 to 18) is nothing but increased workload to the juvenile justice court. For all the big talks of being the largest democracy in the world, sadly as a society, we have not been able to translate it into a workable one, where the concepts of liberty have real meaning and people can carry their fundamental rights right up their sleeve. So long education and opportunities would remain an exclusivity of the elite. Such juvenile crimes would also become a norm rather than exception.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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