Our Announcements

Not Found

Sorry, but you are looking for something that isn't here.

Archive for category India

The Missile that Cannot Fire : Long delays, cost escalation damage DRDO’s reputation

The Missile that Cannot Fire

  • Long delays, cost escalation damage DRDO’s reputation 
  • The Missile that Cannot Fire 
  • Long delays, cost escalation damage DRDO’s reputation

MOS defence Pallam Raju (centre) launches DRDO

 

 

 

MOS defence Pallam Raju (centre) launches DRDO’s herbal formulation.

 

The Defence Research and Development Organisation (DRDO) was set up in 1958 with a vision to “provide our defence services a decisive edge by equipping them with internationally competitive systems and solutions”. The DRDO has clearly failed in its mission.

 

 

 

There is no bigger indictment of India’s premier organisation for research and development in military hardware than the fact that 54 years after its establishment, India still imports 70 per cent of its defence equipment requirements. In 1997, India’s best-known defence bureaucrat and the then scientific adviser to defence minister, APJ Abdul Kalam, had said that India should bring the share of imports in defence equipment purchases down to 30 per cent by 2005. No progress has been made. The percentage is still 70-30 in favour of imports.

 

DRDO’s list of successes is short-primarily the Agni and Prithvi missiles. Its list of failures is much longer. The Light Combat Aircraft (ICA) project, which was commissioned in 2001, is running late by four years. The costs have gone up from an original estimate of around Rs.3,300 crore to over Rs.5,780 crore. The Kaveri Engine for ICA is running late by 16 years and the cost has escalated by around 800 per cent (see box).

 

Gen V P Malik

 

 

Gen V P Malik

 

“The problem with DRDO is that it is big on promise and small on delivery. There is no accountability. Nobody is taken to task for time and cost overruns.”

 

Gen V.P. Malik, Former Chief of Army Staff

 

In 2011, the Comptroller and Auditor General (CAG) put a serious question mark on drdo’s capabilities. “The organisation, which has a history of its projects suffering endemic time and cost overruns, needs to sanction projects and decide on a probable date of completion on the basis of a conservative assessment of technology available and a realistic costing system,” its report stated.

 

The CAG report also revealed that not all technologies developed by DRDO were suitable for use by the armed forces. The three services have rejected 70 per cent of the products developed at the Armament Research and Development Establishment (ARDE), Pune, in the last 15 years costing Rs.320 crore because the products did not meet their standard and requirement. The CAG report stated that in order to form a fair and balanced view of the success of the projects undertaken by drdo, 46 completed and nine ongoing projects worth Rs.387.35 crore were scrutinised in February 2011. Of the 46 completed and closed projects, only 13 closed projects, wrapped up at a cost of Rs.68 crore, underwent production. “Without close synergy between the users and the technology development agency, much of the development efforts would go in vain, as the success rate of projects in ARDE amply demonstrates,” the report said.

 

The army is not impressed by DRDO’s performance either. Says Major-General S.V. Thapliyal, a former deputy director-general for perspective planning at army headquarters in Delhi, “DRDO promises to manufacture. It nixes our plans to acquire from abroad. It does not meet the deadline. Worse, it does not maintain quality either. The soldier, the end user, is the worst sufferer.”

 

 

V K Saraswat

 

We have a requirement of about Rs.14,000 crore against an indicated allocation of Rs.10,640 crore from the Government.

 

V K Saraswat

 

 

 

V.K. Saraswat, DRDO chief

 

General V.P. Malik, who was chief of army staff during the Kargil War, has an interesting incident to narrate in his book Kargil From Surprise to Victory. In 1997, the army finalised plans to acquire the AN/TPQ-37 Firefinder radars from the US. Prices were negotiated and just before purchase, drdo offered to manufacture them at half the price and within two years. The government shot down the army’s plans to buy these radars. In 1999, during the Kargil War, the radars were desperately needed. Neither had DRDO manufactured them nor could they be procured from the US (post-1998 Pokhran tests there was an arms embargo). Several lives were lost in Pakistani shelling. When Indo-US relations improved, India did buy these radars in 2003, but at almost twice the initial price. “The problem with drdo is that it is big on promise and small on delivery. There is no accountability in the system,” says Malik.

 

DRDO continues to mislead. On April 4, it claimed it had achieved a major milestone on an “indigenous” programme to develop a sophisticated radar to monitor the Indian airspace. The aircraft on which the radar is mounted-a modified Embraer EMB 1451-is imported from Brazil. drdo had to resort to the Embraer aircraft because its own efforts at producing an indigenous carrier had ended in disaster. Project Guardian Airawat was stalled in 1999 when its HS-748 turboprop aircraft crashed, killing eight crew members-engineers, scientists and Indian Air Force (IAF) officers-on board.

 

Under a Rs.1,050 crore agreement, Brazil’s Embraer will now act as the overall systems integrator for the “indigenous” project, supplying the three jets, mounting the radar and electronics onto the plane’s fuselage and ensuring that the altered jets retain acceptable flight performance.

 

According to its original 2004 timeline, this project was to be completed by 2011. Now the delivery of the remaining two modified Embraer aircraft is only expected by mid-2013. The project will not be complete until 2014. Even then there are serious flaws in the project. IAF has pointed out that the Embraer EMB 1451 cannot fly above 40,000 ft and therefore is only of limited use in surveillance. “DRDO has a history of claiming foreign designs as its own, like the Arjun tank which is a derivative of the German Leopard,” says a source in the agency.

 

The technology development agency is also largely responsible for the fact highlighted by General V.K. Singh that 97 per cent of the army’s air defence is obsolete. The CAG report lists seven requirements of the army for air defence guns and the project status report. CAG notes the end result: “Even though three R&D projects and one staff project were undertaken, the air defence gun system could not be developed by DRDO to satisfy the frequently revised requirement of the user.”

 

Army air defence sources say DRDO is tinkering with World War II equipment instead of working on cutting-edge technology. “The chief downplayed the state of affairs. It is in dire straits,” says a top-ranking air defence officer.

 

 

 

Air Marshal A K Singh

 

Air Marshal A K Singh

 

Even if systems are acquired from abroad and DRDO is meant to service them, it fails. This leaves critical gaps in national defence.

 

Air Marshal A.K. Singh Former air officer commanding-in-chief, Western Air Command

 

“The air defence is in a very sorry condition,” says Air Marshal A.K. Singh, former air officer commanding-in-chief, Western Air Command. “DRDO is not able to service the equipment. Even if systems are acquired from abroad and DRDO or Hindustan Aeronautics Limited is meant to service it, it fails. This leaves critical gaps in national defence,” he says.

 

The Government had constituted a committee for the first-ever external review of the agency in February 2007. The committee chaired by P. Rama Rao, ex’secretary, Department of Science and Technology and former director, Defence Metallurgical Research Laboratory, Hyderabad, suggested that DRDO be restructured to make it a leaner organisation. It also recommended the setting up of a commercial arm of the organisation to make it a profitable entity, besides cutting back on delays in completing projects. “Delivery delayed is delivery denied,” said Defence Minister A.K. Antony on delays in DRDO projects. But little progress has been made in the last five years on implementing the committee’s suggestions.

 

DRDO chief V.K. Saraswat is eager to put his house in order. He has called for the setting up of a Defence Technology Commission as well as a bigger role for DRDO in picking production partners for products developed by the agency. Instead of the current practice of the Ministry of Defence arbitrarily nominating a defence public sector undertaking or an ordnance factory to build the product, usually when development is almost complete, DRDO would be able to select a capable partner company from the outset, from the private sector if necessary.

 

 

 

 

 

 

 

The defence organisation, which has an annual budget of over Rs.10,000 crore, now has no choice but to reinvent itself. The agency’s research has drifted away from its core competence in recent times. It has been accused of “wasting time and precious resources” being engaged in research and development of technique for detection of pesticides in fruits, technology for dengue control, dental implants, foldable stretchers and berry juice.

 

 

 

 

The moribund agency is also suffering from employee attrition. Over the past five years, while the report of the Rama Rao Committee has languished, around 1,700 of its 7,900 engineers and scientists have left for better opportunities in private companies. The depletion of talent will be the last stage in what cynical insiders say is the process of converting DRDO into a dodo.

 

 

 

Reference (i)

Acknowledgement India Today

No Comments

US INDUSTRY ALERT: Indian sentenced to year in prison for stealing trade secrets

An Indian ex-employee of Bristol-Myers-Squibb, who admitted stealing trade secrets from the drug manufacturer for his planned business venture in India, was awarded a year in jail today, a sentence he has already served. Shalin Jhaveri, 30 is expected to be deported to India soon.

 

Indian sentenced to year in prison for stealing trade secrets

BOSTON: An Indian ex-employee of Bristol-Myers-Squibb, who admitted stealing trade secrets from the drug manufacturer for his planned business venture in India, was awarded a year in jail today, a sentence he has already served.

Shalin Jhaveri, 30 is expected to be deported to India soon.

US District Judge Norman Mordue sentenced Jhaveri to his time served in a New York jail.

Mordue also imposed a USD 5,000 fine and ordered Jhaveri to forfeit the computer equipment he used to steal the formulas.

Federal immigration agents took Jhaveri into custody and would transport him to a detention centre where he will face deportation proceedings in 10 days.

Jhaveri sobbed in court as he apologised for betraying the trust of the company and his family, the Syracuse Post-Standard reported that

“I have failed in my most significant purpose of being on this earth, and I am ashamed,” Jhaveri said.

Jhaveri had pleaded guilty last year to a one-count charge of theft of trade secrets. He was arrested in February 2010.

A Syracuse, New York resident, Jhaveri worked as a technical operations associate in Bristol-Myers’ management training programme.

He had worked at the company since November 2007 at its Syracuse facility, where it develops and manufactures biotechnology medicines for clinical and commercial use.

While he was employed, Jhaveri stole the company’s trade secrets and devised a plan to put them to his own use.

At the time of his arrest, he was meeting with an investor who was willing to finance Jhaveri’s business venture planned in India.

Jhaveri had taken more than 1,300 documents from the company starting in late 2009.

He downloaded the information to his laptop and portable hard drives over the course of several days and shared these trade secrets with his potential investor.

The trade secrets included formulas for producing a drug under development at Bristol to treat a rare and deadly form of skin cancer.

In December 2009, Bristol-Myers’ corporate security had notified its in-house computer security experts that Jhaveri was taking confidential material.

Jhaveri, who came to the US eight years ago on a student visa, has a doctorate in chemistry from Cornell University.

Reference

PTI Feb 18, 2011, 10.12am IST

No Comments

How Indians Steals US & UK Technology? Several Thousand US & UK Pharmaceutical Scientists are of Indian Origin.

Meri (US) technology loot rahi thi, aur main khaamosh tha
Translation: My (US) technology was being looted, and I was silent…

Indians are using a very clever ruse against UK and US.  They spread rumours that Chinese are stealing their cutting-edge technology.  This creates a diversion for UK and US monitoring authorities, while, they focus on Chinese (who actually have better technology in some areas and have no need to “steal,” Western Technology).  Its India who is lagging behind in civil, as well as military technology.  Indian culture nurtures copying and plagiarizing instead of using human natural creativity to invent and discover.  

In the United States, it takes over $1 billion to develop a new drug, and Indian firms develop drugs for $300 million.  Along with lower labor and facility costs, there are far fewer obstacles to carrying out clinical trials in India.

Due to the generosity of the US Govt towards a fellow Democracy, Indians have access to several thousand visas.  This loop-hole in the “TECHNOLOGY DIKE OF US, has been fully exploited by Technology thieves from India.   Indians have penetrated areas of most cutting-edge technology development. Technology hubs :

According to: John Trumpbour, Research Director, Labor & Worklife Program,  Harvard Law School: ” To start with India, leaders of the pharmaceutical industry, specifically Ranbaxy, Dr. Reddy’s Laboratories, and Aurigene, indicated that a majority of the PhDs in drug discovery received their degrees in the USA.  With several Big Pharma firms based in the USA slashing scientific jobs in recent years, Indian pharmaceutical firms marvel at the expanding talent pool, and they have been diligently recruiting South Asians with U.S. experience for work in India.  The pharmaceutical companies are the highest spenders on R&D across all industry sectors in India. To start with India, leaders of the pharmaceutical industry, specifically Ranbaxy, Dr. Reddy’s Laboratories, and Aurigene, indicated that a majority of the PhDs in drug discovery received their degrees in the USA.  With several Big Pharma firms based in the USA slashing scientific jobs in recent years, Indian pharmaceutical firms marvel at the expanding talent pool, and they have been diligently recruiting South Asians with U.S. experience for work in India.  The pharmaceutical companies are the highest spenders on R&D across all industry sectors in India.”  Thousands of Indians working in the US Pharmaceutical Industry, eventually, return to India taking with them the technologies developed with the US dime. This may be the tip of the iceberg. The Economic Times of India (Ref), published the news about an Indian sentenced to year in prison for stealing trade secrets:

Indian sentenced to year in prison for stealing trade secrets

PTI Feb 18, 2011, 10.12am IST

BOSTON: An Indian ex-employee of Bristol-Myers-Squibb, who admitted stealing trade secrets from the drug manufacturer for his planned business venture in India, was awarded a year in jail today, a sentence he has already served.

Shalin Jhaveri, 30 is expected to be deported to India soon.

US District Judge Norman Mordue sentenced Jhaveri to his time served in a New York jail.

Mordue also imposed a USD 5,000 fine and ordered Jhaveri to forfeit the computer equipment he used to steal the formulas.

Federal immigration agents took Jhaveri into custody and would transport him to a detention centre where he will face deportation proceedings in 10 days.

Jhaveri sobbed in court as he apologised for betraying the trust of the company and his family, the Syracuse Post-Standard reported that

“I have failed in my most significant purpose of being on this earth, and I am ashamed,” Jhaveri said.

Jhaveri had pleaded guilty last year to a one-count charge of theft of trade secrets. He was arrested in February 2010.

A Syracuse, New York resident, Jhaveri worked as a technical operations associate in Bristol-Myers’ management training programme.

He had worked at the company since November 2007 at its Syracuse facility, where it develops and manufactures biotechnology medicines for clinical and commercial use.

While he was employed, Jhaveri stole the company’s trade secrets and devised a plan to put them to his own use.

At the time of his arrest, he was meeting with an investor who was willing to finance Jhaveri’s business venture planned in India.

Jhaveri had taken more than 1,300 documents from the company starting in late 2009.

He downloaded the information to his laptop and portable hard drives over the course of several days and shared these trade secrets with his potential investor.

The trade secrets included formulas for producing a drug under development at Bristol to treat a rare and deadly form of skin cancer.

In December 2009, Bristol-Myers’ corporate security had notified its in-house computer security experts that Jhaveri was taking confidential material.

Jhaveri, who came to the US eight years ago on a student visa, has a doctorate in chemistry from Cornell University.

 

 

Ref

No Comments

US & EUROPE’S Ostrich-like attitude towards Indians takeover of strategic businesses-II How India Steals US Technology?

The 2005 Annual Report to Congress on FECIE reported that 108 countries – both friend and foe – were involved in information collection efforts against the United States.[12] Russia, and India top the list.

The 2005 Annual Report to Congress on FECIE reported that 108 countries – both friend and foe – were involved in information collection efforts against the United States.[12] Russia, and India top the list. The FECIE reports indicate that foreign collectors tend to target dual-use technology, which can be used for both peaceful and military objectives, and military technology. There is no dispute that foreign governments go after trade secrets for the sake of national security advantage. But what is the United States government’s role in company v. company warfare? Should investigations be considered a counterintelligence or law enforcement matter? Do these old jurisdictional boundaries and responsibilities still work? What should be a secret, and what is the government’s role in making that determination? What can be done to protect US interests?


How India Steals US Technology?

The National Counterintelligence Center (NACIC) later became the Office of the National Counterintelligence Executive (ONCIX). In 2004, the ONCIX reported to Congress that

  • “… a recent private US survey indicated that more than half of the impacted firms do not report the breach for fear of reducing shareholder value. As a result, no one is certain how much technology and sensitive proprietary information are lost annually to cyber theft.”
  • “During FY2004, the US Department of Immigrations and Customs Enforcement (ICE) conducted more than 2,500 export investigations involving violations of the Arms Export Control Act, International Traffic in Arms Regulations (ITAR), Export Administration Regulations (EAR), Inter national Emergency Economic Powers Act, and the Trading With the Enemy Act. These investigations resulted in 146 arrests, 97 criminal indictments, and 79 criminal convictions.”

Early reports from NACIC/ONCIX blanked out the names of countries suspected or known to be engaging in foreign industrial espionage against the USA; however, later editions began publishing lists. The countries mentioned in early reports were Algeria, Armenia, Azerbaijan, Belarus, China,Cuba, Georgia, India, Iran, Iraq, Israel, Kazakhstan, Kyrgyzstan, Libya, Moldova,  Russia, Syria, Taiwan, Turkmenistan, Ukraine, and Uzbekistan.

In the 2000 Annual Report, respondents to the NACIC survey of a few (about a dozen) Fortune 500 companies reported that the top countries involved in industrial espionage cases involving their firms were (in order of importance) Japan, Israel, France, Korea, Taiwan, and India.

By 2002, the ONCIX Annual Report commented, “The laundry list of countries seeking US technologies in 2001 was long and diverse. Some 75 countries were involved in one or more suspicious incidents. The most active countries in economic espionage, according to DSS data, were an interesting mix of rich and poor and “friend” and foe. Many of the richest nations aggressively sought the latest in advanced technologies both to upgrade their already formidable military infrastructures—particularly command, control, and communications—and to make their already sophisticated industries even more competitive with the United States. Most of the poorer countries, however, continued to exhibit a preference for older ‘off the shelf’ hardware and software to renovate their existing defensive systems and to develop countermeasures to provide them battlefield advantage. The search for lower technology goods by these less developed countries probably reflected their desire to bring in technologies that could be more easily integrated into their existing military structures; a number of these countries were probably not capable of utilizing the most sophisticated US technologies.”

Major Article on US Intellectual Property Theft By India in Computerworld (Reference)

Source code stolen from U.S. software company in India

Jolly Technologies blamed an insider for the theft

By John Ribeiro in Computerworld
August 5, 2004 12:00 PM ET

IDG News Service – Jolly Technologies, a division of U.S. company Jolly Inc., reported yesterday that an insider at its research and development center in Mumbai stole portions of the source code and confidential design documents relating to one of its key products. As a result, the company has halted all development at the center. 
Jolly Technologies is a vendor of labeling and card software for the printing industry. It set up its R&D facility in Mumbai less than three months ago, according to a statement from the parent company. 
The company said that according to a report obtained from its branch in India, a recently hired software engineer used her Yahoo e-mail account, which now allows 100MB of free storage space, to upload and ship the copied files out of the research facility. The company detected the theft and is trying to prevent the employee from further distributing the source code and other confidential information. 
The vast majority of U.S.-based software companies require their employees to sign an employment agreement that prohibits them from carrying the company’s source code out of a development facility or transferring it in any way. 
Though the Indian branch of Jolly Technologies requires employees to sign a similar employment agreement, the sluggish Indian legal system and the absence of intellectual property laws make it nearly impossible to enforce such agreements, the company said. 
Representatives of San Carlos, Calif.-based Jolly Technologies in Mumbai are working closely with local law enforcement authorities, seeking their assistance in taking corrective action against the employee and to prevent such crimes from occurring again. 
The company said it has decided to delay further recruitment and halt development activities in India until better legal safeguards are in place.

BY ACQUISITION OF US COMPANIES

Indian companies step up acquisition of US tech firms

Premium content from Silicon Valley / San Jose Business Journal by Justin Moresco

Attorney Michael Ioannou traveled to Bangalore, India, in April 2007 to speak at the Confederation of Indian Industry, a national chamber of commerce. Ioannou had spoken to the confederation before, but this time the members had a special request: they wanted him to talk exclusively about Indian companies buying United States businesses.

“That’s a good indication of what’s going on,” said Ioannou, managing partner of the San Jose office of law firm Ropers Majeski Kohn & Bentley PC.

Ioannou represents 20 Indian companies focused on information technology services that are doing business in the U.S. At least half of them are looking to buy American companies.

Ioannou’s experience with India’s business expansion abroad isn’t unusual. Spurred by strong economic growth in India, a weakening U.S. dollar and the desire to grow globally, Indian companies increasingly are buying U.S. ones to gain local-market footholds and improve their competitiveness worldwide.

The trend, which started a few years ago and has steadily gained momentum, has been buoyed by loosened restrictions on the flow of capital in and out of India. “They see the U.S. as a major market and a major center of talent,” said Arun Kumar, head of KPMG LLP’s U.S.-India practice that is based in Silicon Valley. “It’s the same reason U.S. companies have been going to India.”

KPMG’s U.S.-India practice, which offers audit, tax and advisory services to Indian and U.S. companies with mutual investment interests, has seen its revenue double in the past year, Kumar said. Most of that growth has been from Indian businesses looking to move into the American market.

There were 93 acquisitions of U.S. companies by Indian businesses in 2007, up from just six in 2003, according to Mergermarket Ltd. and Virtus Global Partners. About 46 percent of deals since 2001 were for IT services companies. The second-largest sector — medical, including pharmaceutical and biotech companies — accounted for 9 percent of deals.

HCL Technologies, an Indian IT services company with its U.S. subsidiary based in Sunnyvale, is an example of this trend. HCL announced in February it was buying Seattle-based Capital Stream Inc. The U.S. business provides lending automation solutions to banks and finance companies. HCL bought the company for $40 million.

And in the past three years, Indian industrial conglomerate Mahindra Group bought a majority stake in Milpitas-based Bristlecone Ltd., a supply-chain consulting company, and Indian IT company Larsen & Toubro Infotech Ltd. bought San Jose-based GDA Technologies Inc., an electronic design services company. “They’re looking at complementary U.S.-based business,” Ioannou said. “It’s easier to differentiate yourself as an India service provider if you have services already being used by U.S. companies.”

But it’s not just U.S. companies being gobbled up. Last year, India’s Tata Steel Ltd. bought Britain’s Corus Group PLC in a multibillion-dollar deal and became the world’s fifth-largest steel company.

Kumar, who expects the trend to grow in the near future, said small and mid-sized IT services companies in Silicon Valley with “distinctive domain knowledge and customer relationships” will be the most likely targets for Indian businesses on the hunt. He also said there has been activity in the pharmaceutical industry.

No Comments

US & EUROPE’S Ostrich-like attitude towards Indians takeover of strategic businesses-I: Democratic India can do no harm, a false assumption?

 

Hypocrasy, thy name is India. This nation starves its people, while its expatriates and businessmen suck the blood of Western economies. The downfall of Western economies have been brought about by expatrate Indian businessmen, scientists, IT  persons, and the secret mandir based strategies of Hindu communities in US, Britain, and Europe.  Poor Jews have gotten a bad rap. Hindus are the real money gouging leeches. US economy has been milked dry by Indian IT companies, Dot.com and call centers. Western businesses have been taken over by Indian from cars to pharmaceuticals.  New Jersey boasts of Dr.Reddy and Ranbaxy, two Indian pharmaceutical  companies. Like the casteism in India, Indian companies are staffed by Indians with token sprinkling of a few European Americans. Dr.Reddy, Ranbaxy, and Lupin are staffed by a significant number of Indians.  Indians do not Anglos or European or African Americans.  African or Chinese Americans are almost non-existent in these companies. American economy is in the strangle-hold of Hindu, “”banya,” mentality. “One of the many crushing burdens for India‘s poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and classic literature tells many pathos-filled narratives of India’s poor caught in that karmic cycle of poverty. Those stories inevitably end in tragedy.”

WHERE IS THE WEALTH OF USA AND EUROPE GOING ? Please see for your self…below: This wealth was not accummulated in India, rather, it was generated through a strangle-hold of US, British, and European economies. US, Great Britain, and Europe, along with the rest of the world are sufferring dire economic hardships, while India is shining, due to the efforts of its sons like…

Lifestyles of the rich and famous

Mukesh Ambani (Forbes rich list rank 1)
Legend has it that Mukesh Ambani, India’s richest man likes his dosas from only one place – the Mysore Cafe, a small little place in Matunga, Mumbai’s Tamil heartland. As for the owners of the cafe, they talk of him in tones priests reserve for patron saints. Understandable! After all, he is their most celebrated customer. Ambani has a soft corner for wildlife as well. So much so that a couple of years ago, he commissioned a huge two volume encyclopedia on Indian wildlife. It went out to academics, researchers, wildlife enthusiasts and people in the media. He is also building what is perhaps the world’s most expensive home at USD 1.2 billion complete with a movie theatre to watch the Bollywood flicks he loves so much.

Anil Ambani (Forbes rich list rank 3)
The younger Ambani is a fitness freak and his passion for running is well documented. He’s a regular on the marathon circuit and his running mates include a canteen boy who works at the State Bank of India in Nariman Point. He’s also seen at Mumbai’s Mahalakshmi Race Course with his children where they enjoy horse rides. Anil Ambani is up every day by 4:00 a.m. and reads every scrap of information published while he was sleeping before he hits the road.

Azim Premji (Forbes rich list rank 4)
A movie buff, he often turns to his business heads for advice on what titles to pick. He likes to trek as well. Very conscientious about the environment, he is now in the market for a hybrid car.

Shashi Ruia (Forbes rich list rank 5)
Extremely media shy, he is closest to younger brother Ravi Ruia. And when the media does get him for that rare interview, he insists the pictures used include both of them. Raconteur par excellence, he can hold an audience for as long as he wants to with his witty stories and knack for story-telling.  And yes, he loves his food.

Sunil Mittal (Forbes rich list rank 8)
He is superstitious about the number 23. He was born on a 23rd, got married on the 23rd, and almost always insists on any major announcements being announced on the 23rd. When he is in Delhi, Mittal insists on having lunch with his brothers and closest associates at Bharti’s headquarters where everything about the business is discussed. Over the years, he has also earned a reputation for his sharp sartorial sense.

Anil Agarwal (Forbes rich list rank 11)
He makes no bones about the fact that he’s starry eyed and loves to watch every Hindi film that comes his way. When in Mumbai, he is known to throw unending parties for his buddies at the Taj Mahal hotel, one of his favourite haunts. Also loves to go around on bicycles.

Dilip Shanghvi (Forbes rich list rank 14)
He is almost fanatical in his devotion to the treadmill and never misses a chance to get on it. Shanghvi doesn’t ike parties; in fact he is a rare sighting even at pharmaceutical industry meetings. Instead, he is a homebody and is rarely seen outside the suburb of Andheri in Mumbai where he has a home and the factory. When he likes to take a break, it is usually at Kodaikanal or on the backwaters of Kerala.

Cyrus Poonawalla (Forbes rich list rank 24)
You could say the man hoards horses, but his real collection is a fleet of more than 25 cars kept in Pune. Poonawalla even built a prototype for a sports car during his college days. He’s carefully collected cars that range from custom-built limousines to Rolls Royces to six-door Mercedes. And the craze for cars runs in the blood. Nephew Yohan Poonawalla was the first owner of the Phantom Rolls Royce in India (for Rs 3.5 crore) in 2005.

No Comments