Cover Story

Tata Motors - Wheels of change
Tata Motors’ transformation from a domestic behemoth to a nimble and aggressive global player is unprecedented in the Indian auto industry. So, how is it managing it?

Tata Steel - A company with a conscience
Tata Steel practically invented CSR much before the term became fashionable around the world.
Mantras of management success
The best managed companies are also very successful companies, but the opposite is not always true. A Business Today and Ernst & Young study identifies what leading practices India's best companies adopt to outperform industry and competitors.
L&T - Superstructure
Led by a CEO who joined the company as a junior engineer 43 years ago, L&T is set to become India’s first professionally-managed Indian multinational.
Bharti Airtel - Rider of the boom
By turning its weaknesses into virtues, Bharti changed the telecom industry paradigm. Result: In a booming industry, it’s still ahead of the pack.
Reliance Industries - The virtues of integration
With gas production and a global-scale refinery expected to come on stream in 2008, Reliance Industries is back to doing to what it does best: Creating value by creating world-class assets.
How we did it
The methodology behind the Business Today-Ernst & Young study.
ITC - The nimble conglomerate
ITC’s Divisional CEOs run their businesses almost independently, and this is what fuels entrepreneurship and excellence within its portals.
ICICI Bank - Eyeing the world
Retail lending is slowing down, and its rural gambit will take time to scale up. So, ICICI Bank is betting big on its international business.
Grasim - Mixing it just right
Investors love it for its vision, customers adore it for its innovation and new product development and, between all that, the Birlas of Grasim Industries find the time to more than give back to the community.
Great Eastern Shipping Co. - In cruise control
A strong management with a hands-on approach is what separates GESCO from its peers in the industry.

2008-03-23

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Editors note

From the Editor

There are some truly remarkable instances of how Indian companies have dreamt big dreams and then gone on to make them happen in real life.

Special

Writing off farm loans worth Rs 60,000 crore, increasing Income Tax exemptions, slashing excise duties…Finance Minister Chidambaram’s Budget 2008 is aimed at winning votes in an early poll. Full coverage: Budget 2008

BT More

The ultimate briefcase

The best in briefcases is here. Buy one of these chic creations that will make going to work a much more pleasurable experience.

Nothing fishy about this one

When you match food with wine, pay more attention to the sauce (or gravy) because your taste buds will register it first... Take a Chianti, for instance. The Tuscan red wine goes particularly well with fish cooked in tomato or mushroom sauce.

It's a dream on wheels

If you have money to burn, like driving and also enjoy being pampered silly, then look no further than the bentley azure. BT’s Kushan Mitra did and still can’t get over the experience.

A piece of car

As electronics becomes increasingly commoditised, a host of top-end car makers are tying up with consumer electronics firms to emblazon their brands on laptops and phones. We take a look at what is out there and whether they are worth the extra cash.

Call of the blues

Blue shirts are back. Make sure they find a place in your wardrobe.

Back to Vegas, again and again

Designer Rina Dhaka remembers the stars coming down to earth during her visit to the city that never sleeps.

Posture perfect

That niggling pain just doesn’t go away whether you are sitting, standing or even lying down? This is a must-read for you then.

Fancy that!

They rocked the Grammys this year and swept away most of the prizes.

Messenger must-haves

They’re hip, they’re trendy and they’re back … Choose from a range of messenger bags from the biggest brands in fashion.

Sneak peep

It’s your life; keep it brand new. Take a look at what’s new on the shelf that can set you apart.

Fit for badshahs

Great weather, a garden party, a glass of wine. But, something’s still missing right? Bring on the kebabs for an enchanting evening.

The King & I

Film maker Homi Adajania loves wildlife and rates the Bandhavgarh National Park as the best he has visited.

Keep walking with brief stops

Somebody asked me the other day why this highprofile tournament had decided to make a stopover in India. Golf is picking up, but I feel it has something more to do with our drinking habits. We are the champion whisky drinkers of the world. Why not make it a Johnnie Walker?

Back to the future

Three classic sci-fi movies are now available on DVDs.

Treasures of the sea

There are few greater gastronomical delights than a beautifully prepared seafood meal. Head to these amazing seafood joints for an exotic lunch or dinner.

The best Sunday brunches

Make the best of a lazy Sunday. Pamper and treat yourself to some amazing food.

Call of the wild

India’s forests are full of exotic animals and birds. Three new books take you that much closer to the joys of nature.

How about some Belgian beer?

Do you know that Belgium, and not Germany, produces the world’s most varied and, according to connoisseurs, high quality beers? The good news is that some of them are now available in India.

8 enchanting escapes

We bring you 8 one-of-a-kind hotels that promise you the experience of a lifetime.

Enchanting escapes

With summer just round the corner, this is the time to book that exotic holiday. And what better way to kick-start things than to book yourself and your family into one of the most luxurious hotels in the world.

Jobs

Wanted: A few good financial wizards

Equity research and investment banking are facing talent crunch.

Building careers

In times of surplus career opportunities, here’s how to make the most of it.

Editorial

Beef up the police

The Supreme Court has allowed the prosecution of NASSCOM President Som Mittal for not providing adequate security to a woman employee, who was raped and murdered by a cab driver, while being driven home from work after night shift.

Not really inclusive

In all the hype and hoopla over the massive giveaways in Budget 2008—the Rs 60,000-crore farm loan waiver, the restructuring of personal Income Tax slabs and the wide-ranging cuts in excise duty rates—the media and experts alike have missed one key point:

The best and the rest

In his best seller good to great, management researcher and writer Jim Collins listed surprisingly simple characteristics that make ‘good’ companies ‘great’.

Letters

Feedback from the readers

A good pre-budget analysis - What will he do? Clearly And systematically evaluates the issues, considerations and the approach that is likely to be adopted by the Finance Minister in Budget 2008.

Trends

The BT 50 index

Just wondering...

What happened to the Vedanta University project that Vedanta Resources Chairman Anil Agarwal had announced with great fanfare in mid-2006?

Noted

To Bharti Enterprises Chairman Sunil Bharti Mittal, the JRD Tata Corporate Leadership Award, for his outstanding contribution to Indian industry. The award was presented by Power Minister Sushil Kumar Shinde.

To be precise

“I would love to be like Reliance” Harsh Goenka, Chairman, RPG, in Business Standard “We aim to have a ‘wow’ impact with our services on international routes”

All you wanted to know about undersea cables

India was a victim of an undersea cable outage in late-January and early February. But what are these cables and why do they matter to you?

Numbers of note

The number of companies that have entered the Indian capital market since 2006. They mobilised about Rs 50,000 crore.

Newsmaker - Mahendra Singh Dhoni

His favourite one-liner is “I am what i am” and at 26, Mahendra Singh Dhoni, India’s Twenty20 World Cup-winning and ODI captain, is already the most expensive cricketer in the world—he was “bought” by the Chennai Super Kings, owned by India Cements at the Indian Premier League (IPL) player auction recently for $1.5 million (Rs 6 crore).

Talebearer

Exports growth may not be severely hit, after all. Worried Commerce Ministry officials had lowered export projections for 2007-08 from $160 billion (Rs 6,40,000 crore) to $140 billion (Rs 5,60,000 crore) a few months ago on the back of an appreciating rupee.

Economy watch

 The farm sector, long regarded as the laggard that has been holding back the India growth story, may throw up a pleasant surprise.

"India should come to NABSHOW"

Chris Brown, Executive VP of the National Association of Broadcasters, one of the largest trade associations in the US, was in India recently to encourage Indian media companies and professionals to participate in NABSHOW, the world’s largest convention for the media & entertainment industry that will be held in April in Las Vegas.

Instant tip

The fortnight’s burning question - Will RPL’S bonus issue put pressure on other promoters to follow suit under similar circumstances?

Between the devil and the deep sea

RBI will have to make some tough choices to keep the economy humming.

Current

Roses, tulips or beer?

Haryana is about to get India’s first “beer garden”.

A few feet too many

Bangalore’s UB City is accused of encroachment.

Cellular fest for GenNext

Cell phone makers go all out to woo youngsters.

Microsoft's India strategy

The giant is eyeing solutions in health and education sectors.

A gift from the blue

Victory for Sony’s BD format is a gain for Moser Baer too.

Enterprise pure play

Another player queues up for a piece of Indian telecom.

PE Ahoy!

Allcargo Global gets more private equity.

Don't discount them

Consumers clamour for rebates—all year round.

More PE for EP

That means more private equity for players in equities.

East meets Western Union

Remittances to India could hit $35 billion in 2007.

A heavy cross to carry

Should the CEO pay the price for an employee’s rape and murder?

Farewell to high growth

Why is HUL’s CEO of two years Douglas Baillie headed to Europe?

Drive

Powerful, flashy but pricey

The new Endeavour is great for highway cruising, not for negotiating city roads.

Back of the Book

The shape of future

The entry of new players is changing the rules of the game for construction industry workers.

Features

Merging to grow

The financial logic apart, HDFC Bank will gain massive management bandwidth from its merger with Centurion Bank of Punjab.

Telco maximus

Nearly two years after it acquired Aircel from C. Sivasankaran, Malaysia’s Maxis Group wants to become a pan-India player, with $4 billion in investment over the next two years.

Networking India

Having hit $1 billion in revenues, Cisco’s plan now is to create a market rather than wait for it to happen.

Meet Anji Reddy, the philanthropist

The Chairman of Dr Reddy’s Laboratories funds initiatives to alleviate hunger, create livelihoods, provide education and access to safe drinking water and pull back children from hazardous industries. So, how did the man who made his fortune in the ultra-competitive world of the global pharma business and whose first love is still science, morph into one of India’s largest givers? E. Kumar Sharma finds out.

In This Issue

Change reaction

It’s been more than a year-and-a-half since Prasad Nimmagadda took the back seat at Matrix Laboratories after he sold his 12.1 per cent stake in the Hyderabad-based pharmaceutical company to Mylan Laboratories.

Unlikely angels

Bankers, ad professionals, movie makers and journalists— people from across the professional spectrum are turning angel investors. And money isn’t the only thing they offer.

A single set of accounting standards is inevitable - Samuel A. DiPiazza Jr

As the CEO of PwC, Samuel A. DiPiazza Jr. runs the world’s biggest audit and advisory firm, with revenues of $25.2 billion and a headcount of 146,767 (June 2007). It’s a job DiPiazza has held for six years now with two more to go.  Recently in India, he spoke to BT's R. Sridharan and Shalini S. Dagar on how things have improved and how much more they can improve.60 MINUTES IN ARCHIVES We are the biggest IT company: Vyomesh JoshiIndia is our 13th largest market: Holliday JrPepsiCo is good in every sense: NooyiOur focus is the key to success: Bart BechtFidelity will be in investing mode: Barry Bateman

People

The people who matter

It was less than three years ago that Ranganath ‘rangu’ Salgame, 46, then the newly-appointed India head of networking giant Cisco, shot into the limelight for attracting over $1-billion investment to expand its local operations.

Printed Circuit

A remote that controls all devices

But a very big negative of this wonder device from Logitech is its prohibitive price tag.

Top Mind

The global seed vault

Remember Superman’s Fortress of Solitude in the Arctic, a huge underground cave. Well, this is exactly like that, but there’s nothing fictional about it.

Free SMS alerts for movies on TV

Netcore Solutions’ free daily SMS update service, MyToday Dailies, has tied up with TV guide portal, ZipAZap.com, to sort, rate, and SMS the best movies to watch on TV (all channels) every evening at no cost to the user. During the pilot test, MyToday Dailies has built a subscriber base of about three million users.

Policy Watch

Tax waiver for short selling

Finally, short selling may soon be allowed again on the Indian stock markets. The Central Board of Direct Taxes (CBDT) has clarified that lending and borrowing of shares won’t attract the securities transaction tax (STT) or capital gains tax (CGT).

Nod for active infrastructure sharing

The Department of Telecom has cleared TRAI’s proposals to allow active infrastructure sharing between telecom service providers

Sorting out the SEZ muddle

The Commerce Ministry has finally decided to scrap eight special economic zones (SEZs) already approved in Goa. Also, show cause notices have been issued to nine developers.

Noted

Pink papers eye Hindi readers

The financial media space is turning vernacular with a vengeance. A recent spate of launches have seen English business daily The Economic Times launch its Hindi edition (it launched a Gujarati edition earlier) and Business Standard launch Hindi and Gujarati editions this year.

Deal Watch

Deal watch

Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in February 2008.

Book

Salesman as strategist

Don’t just make a sale, but win a customer forever, says a guru of CEOs.

Money

The jewels in the crown

PSU stocks are trading at attractive valuations. Now is a good time to buy these shares.

Room for one more

A new online brokerage is charging competitive brokerage rates.

Bonding with bond funds

Several public and private sector banks have recently cut their lending rates for consumer borrowings. Such a scenario offers investors who have invested in longer-term bond instruments a chance to make gains on their investments.

Smart cards

When it comes to paying utility bills, use your credit card. It is convenient and rewarding.

One fine trading day

With a bit of caution, and loads of gumption, day trading can give decent returns— but it’s not for the faint-hearted.

Reporters Diary

Ready for take-off

Bangalore is set to get its world class airport. But the roads don’t measure up yet.

Treadmill

One from the history books

There are some exercises that you hardly see anyone do in gyms any more. With the proliferation of high-tech equipment, where you even have machines to assist you to do chin-ups and dips, pure freehand exercises seem to be out of fashion.

Good posture for a healthy you

Most of us work at a desk or on a computer, and it’s very easy to slip into poor sitting habits. Make sure you follow proper techniques for sitting, standing and driving.