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The Gita Piramal Chat

Aaron: Incredible ambition and tremendous commitment, they are all going to be stars in 2025 if they are alive.

Dhirubhai has handed the reins to his sons. Bajaj has handed the reins to his sons. Birla handed over the reins to his son. Khaitan has handed the reins to his son. RPG has handed the reins to his sons. So will Bharat Shah. Why are these maharajas so feudal? Do you see a scenario when these men will hand over the business to someone really competent, but outside the family? You just have met the sons, are they as good as their fathers?

A M James: I think you know lot about India. Can you tell me where are you based and from where you are chatting? DEAR GP: IS IT TRUE THAT YOU ARE A MARWARI?

Rishab, not three, but four are Marwaris -- Goenka, Birla, Bajaj, Khaitan. Incidentally, Ms P, all featured are from West India (Gujarat and Rajasthan). Can you tell us why there is such an abundance of entrepreneurial spirit here?

Maharajah: No. In the 1980's rate of growth of Bajaj Auto was 1852% via-a-vis Ambani at 1100%. Was Bajaj's achievement any less than Ambani?

Thank you for answering my question. Come on, Miss Piramal, you are not the only person interested in Indian business. It's my job as I am sure it is yours.:-)

Rishab: Its a pity you weren't one of the sons, I could have met you then. But not all these people have handed over the reins over to their sons, that will happen in the next millenium.

Ms Piramal, thanks for the reply. But you missed the point. Bajaj had an illustrous background --- Jamnalal Bajaj had already laid the foundation of a big corporation, which Rahul expanded upon. But Ambani had nothing to start with, least of all a famous father? Does that not make him greater than all the rest. I mean Ambani is comparable to G D Biral, and Jamshetji Tata -- pioneers. Rahul Bajaj was not that!

Mahrajah: Don't forget B M Khaitan in Calcutta , I would love to do a similar profile on Vijay Mallya from Bangalore and P C Sen in Calcutta , and Ranbaxy in Delhi , if the publishers are happy maybe I'll get the chance.

Tell us about Ratan Tata. From what friends tell me, the chapter on him almost reads as an afterthought. Is he there because you could not have excluded the Tatas. After all, they were the original Maharajas! Do you think he is as sharp a businessman as Mr Ambani is? You know they share a birthday. December 28. Only DHA is five years older.

Maharajah: Point about Ambani well taken.

A M James: Where do you work?*smile*

Ms Piramal, I am sure the publishers will be happy. So we await your next set of maharajas, and this time from other parts of India.

You seem to endorse handing over the baton to the sons. Does that not make for a very claustrophobic business environment? Did you speak to any of their executives to get an idea of what the sentiment down the line is? Can Mahesh Bagrodia (I hope I have the name right) ever accept a tyke like Kumaramangalam as his boss. I wish you had explored all this in your book. While it is no doubt interesting, most of it-- minus the interviews -- reads like a table top job. At least that's what one excerpt read like.

A M James: A man who was believed to be a failure but who could out manueover Russi Mody , vanquish Darbari Seth and could sieze the Tata crown has to be a tiger not an after thought at all. I wish I had the opportunity to write an entire book on the events in the Tata Group in the 1990's .

Ms Piramal, I am writing in from Ottawa, Canada. Besides Ambani, which other Indian will figure in the Fortune 500 list? Why?

Hullo, Gita. Who are the five businessmen among the existing tycoons who will make the most impact in the next 20 years?

Are you attributing skills that would be better suited to Indian politics to Ratan?How did he manage to outflank Darbari Sheth and Russi?

Talking about the Tatas, will they too splinter like the Birlas. And I know if sounds like I'm raving about the Ambanis, but will Mukesh and Anil work together or will the Reliance group also split in the middle?

Talking about going international, which Indian product or brand will acquire an international image like coke? Or will it take many, many more years for that to happen?

Rishab: There is no evidence to show that professional management is better than family managed companies. On the contrary the data compiled by the Harvard Business school shows that family businesses are more profitable and more dynamic , you have to remember that below the immidiate family are professional managers after speaking to 100's of them over the past 15 years I've come to the conclusion that some like working in family firms and those who don't move on to the Hindustan Levers of the world where they have to take orders from London , instead of lording it over their own division under a family, who is busy building more companies then looking over his shoulder.

sounds like someone is copying my style!!!

Gosh! That is a very feudal view. You almost make it out as if the only managers of worth in India are businessmen who have been spawned in a businessman's family! Are you suggesting that whatever S M Datta did was a strategy created by Unilever?

Ms GP. Did any of these guys study MBA? I am wondering if it really helps to have a fancy management degree to succeed in business. What is your opinion?

Shiva: Hi. Its going to be a long haul for Indian companies to be Fortune 500 in the true sense of the word its also going to take much sweat before Indian brands become known in the West leave alone getting a brand recognition which Coke has , Indian companies have begun to chip away . So lets see what happens in the next Few years.

Shiva: Ambani : Matriculate

Vijay Shah: College drop out

Khaitan: Morning College

Bajaj, Birla, Tata: USA educated

Bajaj: MBA from Havard

Goenka: MA Calcutta. I hope you are not paying thousands of dollars for your education?

Good to catch this Chat. Thought I wouldn't make it. I haven't read the book, but am fascinated by Indian business and businesmen. As someone who wants to return to India, I just want to know whether any of these businessmen provides a congenial atmosphere for young managers? I believe family owned companies are very badly run and poorly managed.

Ms Piramal. I agree it will be a very long time to achieve true brand recognition. And in which product is such recognition likely to occur? Because, today, all products have a big American, or Japanese or German name. So what product will India produce that gets international recognition? I hope India is not forever stuck on curry, snake charmers and the rope trick!

Which of these businessmen flaunts his wealth? Which of them has class in the true sense of word?