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JULY 1, 2007

COVER STORY


	Are Indian CEOs Overpaid? With new industries and businesses taking off, the war for top management talent has pushed CEO salaries to record levels. But the fact is, not every CEO is getting paid obscenely and certainly not as much as what some CEOs in the US take home. CEO Pay Poll A slight majority believes CEOs are overpaid, but no one wants salaries legislated. Read More CEO Pay Debate An Expert Perspective by R. Sankar and Padmaja Alaganandan of Mercer. Read More BT SPECIAL Boom Checks In Everyone from global hospitality chains to private equity funds has lined up to invest in hotels in India. Read More Room With A Queue More than 37,000 hotel rooms, at a cost of $3 billion, are expected to be added over the next three years. That's more than the 'branded' rooms India currently has. Read More Whatever Happened to Serviced Apartments? A few years ago, serviced apartments seemed all set to take off. They haven't. What went wrong? Read More

The Best
Companies to Work
for in India: 2007

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BT SPECIAL
Overseas, Weakly
Indian hospitality groups have been making desultory acquisitions abroad. That
may not be enough to
produce an Indian Four
Seasons. Read More


	FEATURES


	A Foggy Castle In The Toxic Air The state and central governments want to transform Dharavi in Mumbai. There's just one small hurdle: the 6 lakh-odd residents squatting on this ostensible prime property. more...		The Great Indian Grain Game Wheat trade in the country is no longer what it used to be. Business Today looks at how the farmer misread the market, and the government got it right. more...



	AIG's India Goal The world's largest insurer is going the whole hog in the Indian financial services arena, with forays into mutual funds, real estate funds, mortgage guarantee and asset reconstruction. more...		Fortune In Cookies Two and a half years into her stint as the MD of biscuit major Britannia, Vinita Bali has got growth back. But where are the margins? more...




	Next Stop Vietnam A clutch of Indian corporate giants is following in the footsteps of global megacorps like Microsoft, Intel and Alcoa by kickstarting operations in one of the few economies (other than China and India) that's humming at a growth rate of 8 per cent. more...		Samsung: India Inside Indian engineers are turning out to be Korean chaebol Samsung Electronics Co.'s secret weapon. They are leading global productivity benchmarks and are now pushing its agenda of innovation and helping develop some of the niftiest gizmos on earth. more...






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Buoyant Times Fuelled by robust performances by the manufacturing and services sectors, India's GDP grew 9.4 per cent in 2006-07, the fastest in the last 18 years. Significantly, the country's investments, most of which is taking place in infrastructure and capacity creation, are projected at 35.2 per cent of GDP. This will ensure that the current growth trajectory will probably be sustained in the short run in spite of an ongoing credit squeeze. An analysis.

No Headway The three-day G8 summit, held in Germany recently, did not meet with much success. Though the leaders agreed to bring down emission of greenhouse gases, no deadlines were set. The G8 leaders agreed to allocate $60 billion (Rs 2,46,000 crore) "over the coming years" to finance the fight against AIDS, tuberculosis and malaria, and a further $500 million (Rs 2,050 crore) for the "Education for All" programme in Africa.

Drug Hub The global drug industry's focus is shifting to Asia. The continent will shortly become the largest market for pharmaceutical companies and also a major hub for production and research. A recent report by PricewaterhouseCoopers (PwC) states that Asia will soon take over the global R&D market. The continent can also play a role in building a low-cost supply chain. China and India top the list of most probable destinations for outsourcing.

Power Up To become self-sufficient, India needs to add a capacity of 78,000 MW over the next Five-Year Plan period. The target seems difficult because the required additional capacity is 60 per cent of the country's overall installed capacity of 132,000 MW. Also, in the last five years, India has been able to add only about 20,000 MW. To meet this requirement, nuclear-based power generation needs to be ramped up.





	FEATURE		REPORTER'S DIARY


	The Return of the Family The promoters at Murugappa have returned to the helm at a time when group revenues have topped $2 billion, but the market cap has taken a big hit. The challenge is obvious. more...		Coffee, Tea or Bhajan? Big Bazaar is going out of its way to make small-town consumers feel comfortable with the beast called modern retail, discovers. more...

	MONEY		JOBS TODAY


	The Return Of The Small Stock They grow fast and often provide multi- bagger returns for investors. Here's how to profit from them. more...		Go Green, Get Hired Climate change management and green projects are offering new career avenues. Here's how you can do your bit for the cause of the environment as you expand your horizons. more...
	BOOKEND		BACK OF THE BOOK


	The Original Reformer? In his new memoirs, Yashwant Sinha stakes claim as the Father of Reforms.. more...		Sniffing The Moolah Drink, be merry and, while you are at it, make some money. It's early days yet, but wines are spicing up the investment space. more...
	PEOPLE		COLUMNS


	People Starring Sushil Suri, CMD, Morepen Labs; Cisco's Jangoo Dalal; Indian Banks' Association's Anil Khandelwal; Vedanta Resources' Anil Agarwal; Lowe India's Brent Gosling; and P.K. Choudhury, Vice-Chairman and Group CEO, ICRA. more...		Leadership Spotlight Tejpreet Singh Chopra President & CEO, GE India


	TRENDS		CURRENT


	Goodbye Low Fares? The consolidation in the Indian airspace will put an end to predatory pricing. more... Instan Tip The fortnight's burning question. more... Q&A: Shinji Hattori more... No, Sensex Won't Crash, it'll Move Sideways For months now, pundits have been expecting the stock market to tank. And, if only to prove them wrong, the BSE Sensex has defied these predictions and hovered around the 14,000-mark for the last few months. more... Cell Phone Sales Grow 50 per cent Riding on an addition of 65 million to India's wireless subscriber base in 2006-07, mobile handsets clocked sales of Rs 21,434 crore in 2006-07, a growth of 50.3 per cent, says a study conducted by Voice&Data, a magazine of the Cyber Media group. more... Indian Immigrants: America's Best 'Imports' Immigrants are fuelling the creation and growth of hi-tech businesses in the US, with at least one foreign-born founder in a quarter of hi-tech firms started between 1995 and 2005, says a report, titled "America's New Immigrant Entrepreneurs" that was released in January. more... Inflation Monster Down, Not Out Inflation may have cooled, to less than 5 per cent for the week ended May 26, down from over 6 per cent a few weeks ago, but the authorities are not taking it easy yet. As part of its strategy to combat rising prices, the government is now planning to permit cheaper imports of edible oils like palm, soya, rapeseed and mustard. more... "Move to GST Should be Gradual" That India has an incredibly complex indirect tax structure is indisputable. Complicating matters is the dual VAT system currently in vogue, with taxes imposed at both central and state levels and the separation between VAT for goods and VAT for services. more... Now, Hiring Quotas Second-rung it companies and those in the core sector will breathe a little easier now. more... MBAs With Hearts It would not have been difficult for Chepuri Krishna, a student of IIM-Ahmedabad, to get a summer internship at any leading company. more... Top of Mind more... Economy Watch more... Policy Watch A bird's eye view of what's hot and what's not on the government's policy radar. more... P-Watch Column The why, what and how-to of policy making. more... Newsmaker This fortnight's hero is Kushal Pal Singh, whose company, DLF, is all set to hit the markets with the biggest IPO in Indian history. more... Numbers of Note more... NOTED more... India's Bane: Low Productivity more... Q&A: Phil Hester more...		Southern Seduction PE investors are a rage in small town south India. more... M&A Tangle An Idea-Spice merger may have fallen through- for now. more... Top Gear Amtek Auto makes another acquisition. more... People Pressure No-poaching pacts will have mixed results in a fast market. more... Here's the Money, Honeys India Infoline poaches big time from a foreign brokerage. more... Not All in the Family A private equity player appears set for a foothold in Patni. more... GMR's Energy Airports are its bread, and power its butter. more... Wipro's Son Rise Rishad's appointment clears the air over succession plans. more... Don't Search, Just Dial Call for information, but share some too. more... Georgia on Your Mind? An American university gets ready to operate out of AP. more... The Day of the DVD Movie rentals could be worth Rs 2,000 crore by 2010. more... Food, Rooms and Rock 'n' Roll Hard Rock Café is eyeing the hotels business in India. more... It's Still a Sony The consumer electronics giant aims for $1 billion by 2009. more... Land of Plenty FDI pours into West Bengal's realty space. more... Tech Edge Now BlackBerrys in Bangalore will help track erring drivers. more... Nauk Out? Not Yet TimesJobs and Naukri slug it out-again. more... Speaking the Language TCS clicks on solutions in regional languages. more... The Game Changers Multiplayer gaming is the latest sport in town. more... Malls for the Masses Mumbai's municipal corporation joins the retail rush. more...


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