Gap widens!

It’s salary this time...
The gap between the two Ambani brothers widens considerably once again. Not on the personal front, but in terms of salaries this time. When the two were together, they both took home a package of Rs.0.2 billion each from Reliance Industries (FY 2004-05). Anil was all smiles when the two went their own ways but the smile seems to be fading now with Mukesh being paid 10 times more with an annual package of about Rs.0.2 billion as compared to a meager Rs.0.02 billion that Anil gets (FY 2006-07). Well, the other top shots of India Inc. don’t seem behind too. Ahead of Mukesh is Sun TV CMD Kalanidhi Maran & Joint MD Kavery Kalanidhi, with salaries close to Rs.0.23 billion each, followed by Sunil Mittal (Rs.0.15 billion) & K. Anji Reddy (Rs.0.14 billion).

Indian economy continues to shine...
Indian economy seems to continue with its winning streak. For the first quarter of FY 2007-08, India’s GDP growth accelerated by 9.3% (however, marginally lower from the corresponding figure of 9.6% in the previous year). While manufacturing continued its strong march with 12% growth, inflation too slipped to a 15-month low of 3.94% for the week ended on August 18, 2007. But, the star performer of the quarter was agriculture, which grew by 3.8%, as against 2.8% recorded in the previous year. For the last fiscal, the Indian economy recorded the fastest ever economic growth of 9.4% in the last 18 year. Well, that’s not a bad show. Isn’t it?

General Motors’ success mantra...
GM India reported phenomenal 114% rise in sales for August 2007. The company sold 5,817 units as compared to 2,720 units during corresponding period last year. India’s fi ft h largest car maker is gung ho with a slew of model launches in the last couple of years. With the launch of the Spark (Daewoo Matiz of yore), GM continues with the momentum set by the already successful Aveo Sedan. U-VA and Tavera are also holding on to the competition strongly. Analysts believe that the consistent improvement in sales is due to expansion of the product portfolio. With a five model line up, GM perhaps has one of the largest portfolios in the country and therefore with respect to unit distribution, sales comparatively increase over time.

LG heating up the GSM space
After being out of the GSM space for quite some time now, LG is back in action through their latest off erring Shine. After Chocolate, Shine is the next major launch by LG in India. The move will not only help LG in strengthening its portfolio but will also help them in marking their presence in the premium segment in which they were virtually absent till now. Shine, at present is available in two models. While, the bar phone would cost Rs.9,000, the slider will come for Rs.16,000

When two giants commemorate...
State-run oil explorer Oil and Natural Gas Corporation (ONGC) has tied up with global oil giant British Petroleum (BP) for oil & gas exploration and production business in India and overseas. Both the companies have signed a memorandum of understanding (MoU) which is valid for a period of 18 months and includes knowledge sharing of deepwater exploration (known to be BP’s expertise) & Coal-bed methane (CBM) technology. The pact also envisages participation in each other’s oil & gas acreages in India or foreign land including the CBM acreages in India that ONGC has already found & off shore licences. Well, that’s called a great match!

Videocon dreams big via DTH!
They always make it big and it isn’t an exception this time. Durables heavyweight, Videocon is making ground for the direct-to-home (DTH) market through its media arm Bharat Business Channel. A couple of US funds led by Morgan Stanley have already picked up 20% (FDI cap for DTH) in the venture for $200 million. With right to use the ‘Thomson technology’, Videocon has built up a patented hardware and CAS system that will bring down set-top boxes’ prices by half. The letter of intent for Videocon’s DTH licence has already been signed and a formal announcement is soon expected.

Parsvnath goes mobile!!!
With a view to cash in on the burgeoning demand in mobile telephony in India, realty giant Parsvnath Developers Ltd. has announced an investment worth $414 million to enter the space. The company has applied for approval from the government to offer mobile telephony in 22 out of 23 circles in the country. India currently is the fastest growing wireless market with considerable low penetration rates in the world, and the opportunity seems to have hit the radar of Parsvnath. The company is said to have identified two partners for the project - one domestic and other an international telecom giant. Parsvnath is also planning to fl oat a special purpose vehicle for this purpose.

Philips lines up new luxury for India...
Philips, the Dutch consumer electronics major, is mulling to introduce its high-end products in the Indian market. Aurea, the premium television (through ambilight it creates a background effect) from its stable would be launched in 2008. While revealing its India plans, Philips Consumer Electronics CEO Rudy Provoost opined that India is an important market for its high-end products. The consumer electronics division of Philips in India is targeting a 25% business growth during the year. Other launches in line are Swarovski crystal studded headphones, home theatre with ambisound and music systems that are wireless. Indeed a wow effect!

NMDC joins the Navaratna League
For its significant performance and growth plans, Government of India has conferred the status of Navaratna on National Mineral Development Corporation Limited. It is expected to be formally conferred very soon. Moreover, keeping in view today’s abbreviation philosophy, the company is planning to shred of its big name. The company would now be christened as ‘NMDC Limited’. Not only this, the mineral giant is pledging to pay heed to its core competency and has adopted certain mode for diversify cation too. NMDC is relentlessly pursuing diamond exploration in Anantapur district of Andhra Pradesh and has bagged eight Prospecting Licences for the same. Hope its short name and strategic plans really help it to achieve diamonds.

Jet says ‘My Fair’ India!
Guess what’s latest from India’s leading domestic airline, Jet Airways? It is hosting a travel fair for two days from September 11 to 13 in a joint effort with Indian Tourism. The fair is called, ‘The Incredible India Travel Fair’ and the venue is international, the Bangsar Shopping Centre, in Kuala Lumpur. The chief motive behind the fair is to promote India and at the same time to launch its long distance flights to London, New York and Brussels. The major attraction of this fair seems to be the discount offered on packages and tickets to India. Well, the jackpot comprises of six tickets to India and that too absolutely free. So, after the much talked-about discounted air-fares, now it’s time for some real deal clinchers from the Indian aviation.

Pantaloon takes a coffee break…
India’s leading retail chain, Pantaloon has strike a franchise deal with California based Coffee Chain. The Coffee Bean & Tea Leaf, Pantaloon earlier had a partnership plan with Starbucks, but due to the rejection from Indian Foreign Investment Board, the deal got terminated. The retail chain with its joint venture company Blue Foods has now finally managed the deal with Coffee Bean. Blue Foods, which was started in 2006, has its food courts and restaurants across the country. On the other hand, Coffee Bean that has more than 390 outlets across the globe will have its first outlets in India. The company plans to customise its portfolio according to the Indian taste buds.

A perfect blend of sitar and violin...
On August 28th, Delhi swayed to the melodic performance of the acclaimed pop classical violinist Vanessa Mae. The show began with the notes of the sitar maestro Ustad Nishat Khan and a musical piece by the young prodigy Vanessa, followed by the much awaited jugalbandi between the renowned sitarist and the talented violinist. Sponsored by Seagrams 100 Pipers pure music, the packed auditorium and the cheering crowd were enough to give a ‘thumb’s up’ sign to the organisers. Bestowed with thunderous applause at the fall of the curtain, this perfect combination of talent and glamour definitely succeeded in making a mark among the music lovers of India as well.

Billions spent on million light years...
The Nasa has been a big hole in the pockets of the American tax payers...!

What the world opines about NASA has changed dramatically lately. An organization infamous for its widespread depletion of resources – that was the association of NASA. But the success of NASA’s Shuttle Atlantis seems to have made all the difference. But does that necessarily mean that recent success off - set the blunders that NASA did in the past? NASA has spent a staggering $450 billion since the Apollo 11 Project of 1969, of which most has been sheer wastage. If one was to believe Wernher von Braun, one of the most important rocket developers and champions of space exploration during his times, then by the year 2000 there should have undoubtedly been a sizable operation on Moon, manned Mars landing and men in the outer planets. Even the common people looked up to NASA and that was evidently clear from the popular movie: A Space Odyssey. That was the kind of expectation which NASA had to meet. But the end result by 2000 was rather disappointing, to say the least. To begin with the Constellation Programme, was a failure by itself.

The programme launch vehicles Ares & Orion, were derived on a premise which was proved to be incorrect by engineering analysis as a consequence to which NASA beleaguered a lot of unanticipated expenses. Another instance for that matter would be the Orbital Space Plane (OSP). The scientists working on this project were well aware beforehand that the project was unsystematically conceived and would soon follow the list of other futile projects. However, a lot of resources, both intellectual and monetary, were invested in the OSP project, the end result of which was nothing but the foregone conclusion – isolation of the project. The project Cassini & the JPL mission called CRAF (Comet Rendezvous/Asteroid Flyby) are also classic examples of NASA’s spendthrift nature. These missions were spent an exorbitant amount on and were then eventually sold to the Congress. The only use of these profligate projects was their capability of beautifying an exhibition, to sound the least scornful.

The Hubble Robot Repair Mission is also no exception to the extravagant projects by NASA. This project as claimed by NASA is the most imperative in deciding whether to continue with the observatory’s servicing by robotic means and is worked upon to repair the depreciating condition of the Hubble Space Telescope. This project started of with a budget of $600 million and has currently rocketed to $2,200 million. That’s the kind of hole that NASA makes in the pocket of the American tax payer. However, whether the Government agrees to tamper with so much of the American citizens’ money, is all a part of the bigger political game plan. The bottom line is just that if NASA succeeds (which obviously is not a regular issue), then it reflects well upon the contemporary Government. The real question out here is whether so many failed projects can be compensated with a single successful project, that too after a period of over 35 years? For those who participated in jubilation of NASA’s much awaited success – it is not yet the time because furrowed eyebrows of tax paying Americans will only relax after a series of such success...perhaps! Till then, be at receiving end of their failures.