The bank will strive to make a seamless transition from the old identity to the new by end of 2007...

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States Kaul on the future strategic planning, “The bank seeks to maintain and enhance a strong retail and corporate franchise, strengthen the structures and delivery channels for SME and agricultural businesses, exploit cross-sell opportunities, offer private banking for high-net worth customers, consolidate new business initiatives such as credit cards, wealth management & bancassurance for life insurance and encash opportunities through overseas offices for cross-border trade finance, syndication of debt & NRI business development.” UTI Bank is looking to raise $600 million through Global Depository Receipts (GDR) and list the same on the London Stock Exchange.

Of late, the banking behemoth has been much in the news for obvious reasons – the name change and Nayak’s proposal to quit over issues concerning the split in the roles of CMD (the splitting of roles is much in lines with the Ganguly Committee report on corporate governance & international best practices). The five year - term for using the UTI name (owned by UTI Asset Management Company) expired in January; the bank has decided to adopt the brand name of Axis.

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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 free market Fundamentalist thinks the existence of PSUs is actually India’s biggest bane...

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For years, you and I have been fed the spiel that private sector companies are inherently more profitable than public sector companies. Then how is this for a reality check? Which is the most profitable bank in the country? Despite the dashing damsels that lead the charge of the ICICI bank, it is State Bank of India that tops the league in the banking sector. As former Chairman of State bank of India says, “There is oft en a tendency in India to under estimate or look down upon public sector companies”. All right, so which is the most profitable steel company in India? Despite the derring do of globally voracious honchos at Tata Steel, it is Steel Authority of India Ltd (SAIL) that tops the chart in this sector. Then again, which is the most profitable company in the capital goods sector? Despite ferocious and oft en below the belt competition from global giants like Siemens, it is BHEL that leads the league, coming in at a fabulous number 15. There are two major sectors in which you could say that private capital has triumphed over the public sector. Mukesh Ambani’s Reliance Industries has edged past Indian Oil as the most profitable company in India. Similarly, the entrepreneurial skills of Kumar Mangalam Birla have scored a hit with his group company Hindalco nudging ahead of public Sector NALCO in the aluminium sector.

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Source : IIPM Editorial, 2007

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

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‘2’006 Fast, ‘2’007 Furious

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The good news for the Indian telecom sector is the rise of erstwhile smaller players like Idea Cellular, Spice, which have created new epicentres of telecom growth

With average monthly additions in excess of six million, the telecom sector is definitely going through its golden period in India. Be it Bharti-Airtel, Reliance Communications, Vodafone, Idea Cellular, the state-owned BSNL, or even MTNL; all of these companies are giving each other a tough fight in terms of subscriber addition; though Bharti-Airtel has been able to maintain a lead over its competitors. With a customer base of a whopping 39 million (an increase of 89%) as on March 31, 2007, Bharti-Airtel commands a dominant 22.9% share of the highly competitive Indian telecom sector (as compared to 20.4% market share in 2006). Backed by strong growth exhibited by the companies, the telecom sector is witnessing an impressive 82.2% growth in the mobile phone subscriber base (according to RNCOS Report). However, the good news for the Indian telecom companies does not end here. It is projected through a study conducted by the Centre for Telecom Research, London, that India would have as many as 600 million subscribers by 2011. And to top it all, the combined revenue of all the mobile operators in India would be $33.1 billion by 2010, from $12.8 billion in 2006.

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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 Indian Automobile market will double by 2015,” K. K. Swamy, Dy. MD, Toyota

IIPM PUBLICATION

According to the Auto Component Manufacturers Association (ACMA), the automobile industry, as a whole, is expected to grow at 18.2% and will touch $40-50 billion by 2014. The exports for the sector for 2006-07 were at $2.7 billion; up by 13.1%. According to ACMA, India’s share in world auto components is expected to reach 3% by 2015-16. The profits of the major players in the sector also replicates prevalent trends. In terms of profits, Maruti Udyog’s profits increased by 31.3% to Rs.15.61 billion, while Bajaj Auto’s profits stood at Rs.12.37 billion. Tata Motors clocked net profits of Rs.19.13 billion. Riding on Scorpio’s success, M&M’s profit surged by 24.62% to Rs.10.68 billion. Amidst this hoopla of bullishness, Hero Honda proved to be a laggard with profits dropping by 13.3% to Rs.8.5 billion.

The key drivers remain rising the demand for four-wheelers and two-wheelers – a by-product of growing disposable income – fast expanding GDP and the entry of global automobile firms. Apart from these, a continued tariff reduction has also benefitted the sector’s growth. The tariff rate was brought down to 12.5% this year from 35% in 2001. India emerging as one of the key transport equipment centers in Asia is a non-question. What remains to be seen is how massively would Indian consumers be able to contribute to global players’ profits and sales.



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Source : IIPM Editorial, 2007

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

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Who in God’s name is Zoellick?

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Another Bush crony is on his way to be anointed as WB chief

Belying Tony Blair’s expectations, Bush has chosen the 53-year-old Robert Zoellick as the future leader of World Bank (WB). Zoellick, a trusted and loyal Republican, has dutifully represented three US presidents with aplomb in various capacities. He distinguished himself in top appointments both at the Treasury & the State departments. The US conservatives are in no mood to let go a key institution designed to control the Third World, (annually the WB offers $23 billion to poor countries to fight poverty).

“The non-transparent, only one candidate selected by the US President Bush’s leadership selection “process” for this important multilateral institution, is the problem. Hand selecting just one candidate to serve in this crucial post is emblematic of the way Bush views himself – as a monarch and the “decider”, as opposed to as a leader of a democracy in which negotiation and working with others must be paramount.” says Sandy Kraiwtz, Director Communications, Action Aid USA, while talking to B&E.

“Bush’s ‘my way or the highway’ approach to policy making is the root of the problem,” adds Sandy. Perhaps, there is more to this than Bush’s ideology. Much like the other key appointees (Paulson-US Treasury Secretary; Joshua Bolten-Chief of Staff , White House) Zoellick too is a Goldman Sachs executive. This back & forth movement of the key decision-makers from government to industry reinforces the belief that Bush’s decisions (Exxon Mobil pressure on Kyoto agreement or Haliburton’s excesses in Iraq) are certainly influenced by corporations. And this doesn’t augur well for democracy.

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Source : IIPM Editorial, 2007

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

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