Wednesday, November 22, 2017

Newsbreakers

RISING STAR

 

 

It is very easy in this age of excessive media focus to claim that the $8.7 billion Adani Group has acquired oomph through sheer political maneuverings, but it is a fact that billionaire Gautam Adani’s (net worth $5.3 billion) rise to the top of the country’s development sector ‘A’ listers league also owes to a hell of a lot of hard work. In the past month itself Adani Enterprises stock has jumped 23 per cent at the Sensex on expectations that a Narendra Modi-led government at the centre will put infrastructure development on a fast track. Though he has been at pains to deny having received any undue special favours from the Gujarat Chief minister – he has claimed having friends in all political parties – it is true that the fortunes of the Adani Group – which owns Mundra, the biggest port in the country and has also built India’s largest privately-owned power plant, producing 4,620 MW of power, not to mention a 64-km railway connecting the port to a railway network – is on the upswing. It is said he is planning new acquisitions in various areas as part of his larger plans to double his group’s size by 2020. In recent times, for instance, Adani has also gone on a mines, ports, and railways buying spree in Australia and Indonesia. From a small time businessman riding a scooter to his plastic manufacturing unit to his current avatar as port cum power lord to global jet setter – he owns a fleet of three helicopters and three planes – it has assuredly been a big leap for Adani. It doesn’t require rocket science to predict that an even bigger jump lies in store for him all thanks to hard work and smart political connections.      

 

 

 

CROWN JEWEL

 

 

Aapro Ratan – a term of endearment used by Parsee ladies for Tata Group Chairman Emeritus Ratan Tata could now well end up figuring in the global lexicon if the recent commendation by the British government – the Knight Grand Cross – for the work done by his group companies in the island nation is anything to go by. On April 10, the British Foreign and Commonwealth Office announced Queen Elizabeth bestowed the Knight Grand Cross award on 76 year old Tata "for services to England-India relations, inward investment to England and philanthropy." The Tata Group is one of the largest manufacturing companies and the largest employer in Britain today with its Corus Steel and Jaguar Land Rover facilities which together employ close to 60,000 people. It is not for the first time that he has been honoured by the British government. Incidentally Tata was made Knight Commander by the Queen in 2009, a year following the Tata Group’s acquisition of the flagging British luxury car brands JLR. Apart from his impeccable business credentials, Ratan Tata has also been recognised in the UK for his contributions to various fields, including academia. Indeed every Parsee worth his old Morris Minor – not to mention a billion plus Indians - would be compelled to laud the man who gave the country its cheapest small car. Veritably there is nothing Nano – which is Gujarati for small – about the accomplishments of this man. There couldn’t be a better tribute than this recognition to growing Indo-UK engagement. What next? Nano taxi services in UK cities would be rather nice.

 

 




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