APPENDIX B

Indian Business Leader Interviews and Survey

WE INTERVIEWED A HOST OF Indian executives in 2007–2009, taking notes and digitally recording the dialogue. The business leaders were associated with ninety-eight companies, and their firms belonged to a wide range of industries, as seen in table B-1. Twenty-four of the companies were part of a conglomerate, twelve were in banking, ten in information technology, and nine from pharmaceuticals and biotechnology. Also included were firms from oil and gas, automobiles and auto parts, fast-moving consumer goods and retail, specialty chemicals, beverages and foods, and a host of other sectors. India is a nation of business groups—sets of legally separate firms with significant fractional ownership held by a family or other companies in the group, and with shared directors, a common identity, and an ability to coordinate actions. Twenty-six of the firms we studied belonged to one or another of these groups, including Bajaj, Bharti, Godrej, RPG, Jindal, Mahindra & Mahindra, Murugappa, Reliance Industries, and Tata. Ninety-one of the firms were listed on a stock exchange, with eighty-six on an Indian exchange and the others on Amsterdam, New York, Paris, and Swiss exchanges. Eighty of the companies were private sector, eighteen others largely state owned. Seventeen were subsidiaries of an international parent, such as Hindustan Unilever, a publicly listed Indian firm that is also a subsidiary of the Anglo-Dutch Unilever.

TABLE B-1

Companies of Indian business leaders interviewed

Industry Category Percentage
Banking and finance 12.5
Information technology 11.5
Pharmaceuticals and biotechnology 11.5
Chemicals 6.3
Oil and gas 6.3
Automobiles and auto parts 5.2
Retail and fast-moving consumer goods 5.2
Highly diversified 5.2
Industrial equipment 4.2
Steel 4.2
Beverages and foods 3.1
Commercial vehicles and trucks 3.1
Telecommunications 3.1
Airlines 2.1
Cement 2.1
Consumer electronics 2.1
Electric utilities 2.1
Heavy construction 2.1
Shipping and transportation services 2.1
Agricultural machinery 1.0
Broadcasting and entertainment 1.0
Glass 1.0
Health care 1.0
Hotels 1.0
Mining 1.0
Listed on public stock Yes 91.7
exchange No 8.3
Main exchange Bombay Stock Exchange 87.5
Other 5.1
None 7.3
State-owned Yes 18.8
enterprise (>50%) No 81.2
Multinational Yes 82.3
No 17.7
Family groups Ambani (Reliance Industries)
Bajaj
Bharti
Birla (Aditya)
Birla (C. K.)
Dhoot
Godrej
Goenka (RPG Group)
Jindal (O. P. Jindal plus JSW Group)
Khorakiwala
Mahindra
Murugappa
Piramal
Premji
Rao
Tata

For the interviews, we targeted one top executive per company, but in several cases we had the opportunity to interview two—the chief executive and the nonexecutive chair—or even more. Of the 105 individuals interviewed, 102 were active executives at the time of the interview. Forty-two were promoters, a uniquely Indian term for those who are both primary owners and top executives. The executives’ titles were an Anglo-American mix, with 71 managing or executive directors, 51 chairmen, 9 chief executives, 9 vice-chairmen, and 4 presidents or chief executives of divisions, as seen in table B-2.

TABLE B-2

Characteristics of Indian business leaders interviewed

Age in years Category Percentage
30–39 2.9
40–49 17.1
50–59 51.4
60–69 21.9
70–79 2.9
No age given 3.8
Gender Male 96.2
Female 3.8
Educational level No degree 2.0
Bachelor’s degree 92
Master’s and professional 82
Honorary doctorate 6.0
Doctorate 5.0
Area of study Arts and sciences 30
Business 74
Engineering 37
Law 9.0
Medicine 2.0
Military 1.0
Social work 3.0
Veterinary medicine 1.0
None 2.0
Titles Promoter or promoter group 40
Founder or cofounder 10
Chairman 49
Vice chairman 9.0
Managing/executive director 68
Chief executive officer 9.0
Chief financial officer 2.0
President or division head 4.0
Executive status Executive 97.1
Nonexecutive 2.9

TABLE B-3

Educational institutions of interviewed Indian business leaders

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The educational institutions attended by the business leaders we studied were global and diverse: of the 105 executives, 9 had attended the Indian Institute of Management at Ahmedabad, 8 had been at Harvard University, 5 at the Indian Institute of Technology at Delhi, 4 each at the University of Delhi and Massachusetts Institute of Technology, and 3 each at the University of Mumbai (Bombay) and the Wharton School of the University of Pennsylvania. Overall, as shown in table B-3, 42 of the executives had attended an Indian school, 28 an American school, and 10 elsewhere abroad.

By way of a benchmark, consider a study of 128 premier American business leaders presiding over their firms in a recent period. When our Indian business leaders are compared with them, they are both similar and different: the Indians and the Americans have comparable levels of undergraduate education, but significantly higher proportions of the Indian executives hold advanced degrees, were educated abroad, and had founded their firm or were members of a founding family. Some 90 percent of the American business leaders had completed a college degree, on a par with the 92 percent among the Indian business leaders. Of the American business leaders, 45 percent held a master’s or other professional degree, while 82 percent of the Indian business leaders were so educated. A quarter of the Americans had established their company or were foundingfamily members; half the Indians were founders or members of a promoter—usually family—group. Among the American business leaders with MBA degrees, 90 percent earned them at one of seventeen top-ranked American institutions; among the Indian business leaders with master’s and professional degrees, the dispersion among institutions was far greater. Most of the American business leaders held degrees from U.S. institutions, while a third of the Indian business leaders had been educated abroad, primarily in U.S. schools.1

All of those we interviewed are identified in table B-4 with their titles and companies at the time of the interview, and a biographical sketch follows. In addition, we asked the senior executive for human resources at each of these companies to complete a lengthy online set of questions about their company.2

TABLE B-4

Interviewed Indian business leaders

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Supplemental Interviews

We also interviewed an additional set of individuals who are well familiar with Indian business leaders (see table B-5).

Biographical Sketches

Biographical sketches of those interviewed in the primary and supplementary groups follow:

Anu Aga became executive chairperson of the Thermax Ltd. in 1996 and two years later became nonexecutive chairperson. She retired as chairperson in 2004. Aga has been active in the Confederation of Indian Industry (CII) and served as the chairperson of CII’s western region. She now works closely with the philanthropic Thermax Social Initiative Foundation. Aga holds a postgraduate degree in medical and psychiatric social work.

Rakesh Aggarwal is director of Sony Entertainment Television Pvt. Ltd. and director of World Media Group Pvt. Ltd., both based in Singapore. He is also a board member of the Nanyang Business School advisory board. A career banker, he worked for fifteen years for Citibank in India, Thailand, Sri Lanka, and Singapore, and for seven years with Union Bank of Switzerland, Singapore, as chairman of the East Asia Credit Committee.

TABLE B-5

Supplemental interviews

Individual Title Organization
Rakesh Aggarwal Director Sony Entertainment Television
Sushanta Banerjee Founder and principal Samuday Psycon
Neeraj Bharadwaj Managing director Apax Partners
Amit Chandra Managing director Bain Capital, Mumbai
Atanu Dey Chief economist Netcore Solutions
Humayun Dhanrajgir Chairman Emcure Pharmaceuticals
Akhil Gupta Senior managing director Blackstone Group
Rajesh Jain Founder and managing director Netcore Solutions
Vijay Mahajan Chief executive and managing director BASIX
Rajat Nag Managing director general Asian Development Bank
Raaj Sah Professor, Harris School of Public Policy Studies and the College University of Chicago
Sanjeev Sanyal Director of global markets research Deutsche Bank
Partha Sarkar Board member Escorts Finance
Anil Sharma Vice president, human resources ITC Hotels Division

M. A. Alagappan is the executive chairman of the Murugappa Group’s corporate board. He is also a committee member of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Southern India Chambers of Commerce and Industry (SICCI). He served as honorary consul of Hungary in India for the southern region. Alagappan did his graduate work in management at the University of Aston, UK.

Mukesh D. Ambani has been with Reliance Industries Ltd. (RIL), India’s largest business house, since 1981. He now serves as RIL’s chairman and managing director. In addition to his business activities, he is a member of the prime minister’s Advisory Council on Trade and Industry and the Council of Scientific and Industrial Research (CSIR), India. He pursued an MBA from Stanford, and serves on the advisory board of Stanford’s Graduate School of Business.

Nakul Anand joined the Hotels Division of ITC Ltd. as a management trainee in 1978. Since then he has held various positions in ITC Welcomgroup’s hotels, including that of general manager of the flagship hotel, ITC Hotel Maurya Sheraton and Towers. He is currently the divisional chief executive of the Hotels Division of ITC Ltd. He has won a number of awards for excellence, including General Manager of the Year.

Shailesh Ayyangar became managing director of Aventis Pharma Ltd. in 2005. He held senior sales and marketing positions in SmithKline Beecham Pharmaceuticals and GlaxoSmithKline (GSK) in both India and Great Britain. He was also on the board of SmithKline Beecham Pharmaceuticals before its merger with Glaxo Wellcome. A graduate in veterinary science, Dr. Ayyangar holds a postgraduate degree in business management from the Indian Institute of Management (IIM), Ahmedabad, Gujarat.

P. Rama Babu joined E.I.D. Parry (India) Ltd. in 1983 and served as managing director from 2004 to 2008. He played a key role in the turnaround of E.I.D. and in its expansion and acquisitions, and he oversaw operations relating to the Sugar and Chemical Divisions of E.I.D. He serves as director of E-Commodities Ltd. and Trichy Distilleries and Chemicals Ltd. Babu holds a master’s degree in social work and labor welfare.

Kushagra Bajaj has served as chief executive of Bajaj Hindustan Ltd. (BHL), a major Indian producer of sugar and ethanol, since 2001 and was appointed as joint managing director in 2007. He is responsible for overall operations of BHL and its subsidiary companies. He has a BS in economics, political philosophy, and finance from Carnegie Mellon University and earned his MS in marketing from Northwestern University.

Rahul Bajaj serves as executive chairman of the Bajaj Group of companies, including Bajaj Auto Ltd., India’s premier two- and three-wheeler company. He was twice the president of the Confederation of Indian Industry (1979–1980, 1999–2000). He is also on the executive board of the Indian School of Business and is a member of the Prince of Wales International Business Leaders Forum. He graduated from Harvard Business School.

Shishir Bajaj has been managing director of Bajaj Hindustan Ltd. since 1988 and serves as its chairman. He has also served as president of the Indian Sugar Mills Association and as chairman of Indian Sugar and General Industry Export Import Corporation Ltd. He is a member of the western regional council of CII and the managing committee of Bombay Chambers of Commerce and Industry. He received his MBA from New York University.

Arun Balakrishnan became chairman and managing director of Hindustan Petroleum Corporation Ltd. (HPCL) in 2007. Prior to this assignment, he was HPCL’s director of human resources. The Institution of Engineers (India) has recognized him for “his outstanding contribution to the profession of chemical engineering.” Balakrishnan has a chemical engineering degree from the Government College of Engineering, Trichur-Kerala, and an MBA from the Indian Institute of Management, Bangalore.

A. K. Balyan has been director, human resources, of Oil and Natural Gas Corporation Ltd. since 2003. Balyan has thirty years of experience and had held several field and staff assignments in various disciplines, including analytical geo-chemistry lab, mud engineering, planning, and monitoring of exploration activities. Balyan holds a doctorate degree in chemistry from Technische Hochschule für Chemie, Merseburg, Germany, and is an alumnus of IIT, Delhi.

Proshanto Banerjee is the former chairman and managing director of Gas Authority of India Ltd. (GAIL), the largest natural gas transmission and marketing company in India. Prior to joining GAIL, he was the executive director (marketing) of Indian Oil Corporation. A chemical engineering graduate from the Institute of Technology, Varanasi, Banerj ee did his master’s in marketing management from the Jamnalal Bajaj Institute of Management Studies, Mumbai.

Sumantra Banerjee has been managing director of CESC Ltd., an electrical services company, since 1993. He also serves as chief executive and president of RPG Power and Retail Groups. He has over thirty-two years of experience in India and abroad in manufacturing, engineering, finance, marketing, and general management functions. He received both his MS and MBA degrees in the United States.

Sushanta Banerjee is founder and principal consultant of Samuday Psycon and board member of Sumedhas, Academy for Human Context, both based in New Delhi. He has been at the forefront of developing the applied behavioral sciences field in India and has consulted with over a hundred organizations from the corporate sector, banks, and elite educational and religious institutions. He has also taught at IIM, Ahmedabad, as visiting faculty since 1973.

Manvinder Singh (Vindi) Banga was appointed president of the Home, Personal Care, and Food Division of Unilever in 2008. He is actively involved on the boards and managing committees of many organizations, including the Confederation of Indian Industry, the Indian Institute of Management, Ahmedabad, and the Indian School of Business, Hyderabad. He completed his postgraduate degree in management from the Indian Institute of Management.

B. G. Bangur serves as executive chairman of Shree Cement Ltd. and has over fifty-two years’ experience in the cement industry. He is also the director of The Didwana Industrial Corporation, NBI Industrial Finance Company, Khemka Properties, and Digvijay Finlease. In addition, he is actively involved with various philanthropic and charitable organizations. He holds a BCom (honors) from Calcutta University.

Sarthak Behuria is the chairman of Indian Oil Corporation Ltd. He is also the part-time chairman of IBP Co., Bongaigaon Refinery and Petrochemicals, Indian Oil Tanking, and Lanka-IOC. He has more than three decades of experience in the field of oil refining and marketing. Behuria is an alumnus of St. Stephen’s College, Delhi, and the Indian Institute of Management (IIM), Ahmedabad.

Neeraj Bharadwaj is managing director and country head of Apax Partners (India), a private equity firm. Bharadwaj joined Apax in 1999 and has led deals like JAMDAT Mobile, WiderThan, and NXP. He was previously with McKinsey & Company, Goldman Sachs, and Morgan Stanley. He holds a BS in economics from the Wharton School of the University of Pennsylvania, and an MBA from Harvard Business School.

Subodh Bhargava is chairman of Tata Communications and chairman emeritus of the Eicher Group. He has served as president of the CII as well as the Association of Indian Automobile Manufacturers; he has also been vice president of the Tractor Manufacturers Association. Bhargava has been closely associated with technical and management education in India. He holds a degree in mechanical engineering from the University of Roorkee.

Hari S. Bhartia is cochairman and managing director of Jubilant Organosys Ltd., which specializes in pharmaceutical drug discovery and development. He has been a member in several educational and science and technology programs of the government of India. Bhartia is also a member of the Communication Working Group of the Global Roundtable on Climate Change, Columbia University. He is a chemical engineering graduate of the Indian Institute of Technology, Delhi.

Shyam S. Bhartia is chairman and managing director of Jubilant Organosys Ltd. Bhartia has also served as director on the board of Air India, and on the boards of governors of Indian Institute of Management, Ahmedabad, and Indian Institute of Technology, Mumbai. Currently, he is a member of the executive committee of FICCI. He received his ICWA degree from the Institute of Cost and Works Accountants of India (ICWAI).

O. P. Bhatt became chairman of the board of State Bank of India Ltd. in 2006. Prior to this appointment, he was managing director of the State Bank of Travancore. He has also been chief general manager of the North Eastern Circle of the bank and general manager (retail) at Lucknow. He has had foreign assignments in both London and Washington. Bhatt has an MA in English literature.

Sanjeev Bikhchandani is managing director and CEO of InfoEdge (India) Ltd., an Indian provider of online recruitment, matrimonial, and real estate classifieds. He has been visiting faculty and guest lecturer at IIM, Ahmedabad; Institute of Management Technology (IMT), Ghaziabad; Times School of Marketing; and Delhi School of Communication. He received his BA degree (honors) in economics from St. Stephen’s College, Delhi University, and his PGDM from the Indian Institute of Management, Ahmedabad.

Kumar Mangalam Birla is the chairman of the Aditya Birla Group, a leading Indian and international business group with assets in excess of US$28 billion. A graduate of the London Business School, Birla has served on numerous regulatory and professional boards, including the central board of directors of the Reserve Bank of India and the national council of the Confederation of Indian Industry.

Kishore Biyani is the managing director of Pantaloon Retail (India) Ltd., a leading India retailer, and CEO of Future Group. He was given the Ernst & Young Entrepreneur of the Year 2006 award in the services sector and the Lakshmipat Singhania–IIM Lucknow Young Business Leader Award by Prime Minister Manmohan Singh in 2006. He holds a bachelor’s degree in commerce and a postgraduate degree in marketing.

Subir Bose serves as managing director of Berger Paints India Ltd., a major Indian manufacturer of paints and varnishes. He also serves on the boards of BNB Coatings India Ltd. and DIC India Ltd. Bose has a BTech from the Indian Institute of Technology and a postgraduate degree in management from the Indian Institute of Management, Ahmedabad.

Amit Chandra has been managing director of Bain Capital, Mumbai, since early 2008. Chandra spent most of his professional career at DSP Merrill Lynch, India’s leading investment bank, retiring from there in 2007 as its board member and managing director. Chandra was named a Young Global Leader by the World Economic Forum in 2007. He is a trustee/board member of The Akanksha Foundation, GiveIndia, and Credibility Alliance.

Subhash Chandra is chairman of Zee Entertainment Enterprises Ltd. and chairman and promoter of the Essel Group of companies. The Confederation of Indian Industry chose Chandra as the chairman of the CII media committee for two successive years. In 2004, the trade group FICCI named him Global Indian Entertainment Personality of the Year. He is also a trustee for the Global Vippassana Foundation.

Ashwin Choksi is executive chairman and managing director of Asian Paints Ltd. He became chairman of the company in 1998. Asian Paints, which currently operates in twenty-two countries across the world, is India’s largest paint company and ranks among the top ten decorative coatings companies in the world. Forbes Global magazine ranked Asian Paints among the “200 Best Small Companies in the World” for 2002 and 2003.

Ajai Chowdhry is the executive chairman of HCL Infosystems Ltd., a firm specializing in IT hardware. He was also part of the IT task force set up by the prime minister of India to give shape to India’s IT strategy. Chowdhry has a bachelor’s degree in electronics and communication engineering and attended the Executive Program at the School of Business Administration at the University of Michigan.

P. Dasgupta is the managing director and CEO of Petronet LNG Ltd., a company formed by the government of India to import, store, and transport liquefied natural gas. Prior to joining the company in 2003, he worked as chief financial officer for Essar Telecom-Essar Teleholdings Ltd. Dasgupta completed his bachelor’s degree in commerce from Ravi Shankar University, Raipur, in 1967.

Saroj K. Datta is the executive director of Jet Airways (India) Ltd., a company he has worked for since its inception in 1993. Datta has over forty years of experience in civil aviation in India and abroad, including prior positions with Air India and Kuwait Airways. He completed his education at St. Stephen’s College, Delhi, with a postgraduate degree in economics.

Y. M. Deosthalee is chief financial officer and director for Larsen & Toubro Ltd., India’s largest engineering and construction conglomerate. Deosthalee joined the company in 1974 and was elevated to general manager (finance) in 1990, later becoming its CFO. In 1995, he was appointed to the board. Larsen & Toubro, which has offices in the United States, Europe, the Middle East, and Japan, made the Forbes Global 2000 list in 2006.

Atanu Dey is chief economist of Netcore Solutions Pvt. Ltd., a software company. Previously, he was product manager at Hewlett-Packard. From 2001 to 2002, he was Reuters Digital Vision Fellow at Stanford University. Dey has a bachelor’s degree in mechanical engineering from Nagpur University. He also did postgraduate work in computer science at Rutgers University and IIT, Kanpur, and has a PhD in economics from the University of California, Berkeley.

Humayun Dhanrajgir is chairman of Emcure Pharmaceuticals Ltd. Previously, he was vice chairman and managing director of Glaxo India Ltd. and former president of the Organization of Pharmaceutical Producers of India (OPPI). Dhanrajgir joined Emcure’s board in 2000. Dhanrajgir is a graduate in chemical engineering from Loughborough University, a U.K. Member–Institution of Chemical Engineers, a U.K. Chartered Engineer, and a graduate of Harvard’s Advanced Management Program.

Pradipkumar N. Dhoot is a director for Videocon Industries Ltd., a manufacturer of consumer electronics and appliances. He is an industrialist with diversified business experience spanning more than three decades and is one of the core promoters of the Videocon Group. In 2005, India’s Consumer Electronics and TV Manufacturers Association (CETMA) conferred on him the Man of Electronics 2005 award.

S. B. Ganguly served as executive chairman and chief executive officer of Exide Industries Ltd., a manufacturer of electric batteries, until 2007. He now serves as chairman emeritus of the board he first joined in 1991. Ganguly, a qualified chemical engineer, joined the company in 1986, and prior to that he was director of research and technical for Dunlop India Ltd.

Adi B. Godrej is executive chairman and managing director of Godrej Consumer Products Ltd. and chairman of the Godrej Group. Godrej is a former member of the dean’s advisory council of MIT Sloan School of Management and serves on the Wharton Asian executive board. He is also a member of the national council of the CII and the governing board of the Indian School of Business.

Sanjiv Goenka is a board member of RPG Enterprises and vice chairman of the RPG Group, whose businesses include power, tires, entertainment, organized transmission engineering, retailing, and IT. His current positions include chairman of the board of governors, IIT, Kharagpur; and member of the board of governors, International Management Institute, New Delhi. He has also served as honorary consul of Canada in India.

R. Gopalakrishnan is executive director of Tata Sons Ltd. (Tata Group). He began his business career in 1967, working as a management trainee for Hindustan Unilever, and eventually became its vice chairman. After thirty-one years of working for various Unilever companies, he joined Tata Sons in 1998. Gopalakrishnan is a graduate in physics from Calcutta University and in engineering from IIT, Kharagpur.

G. R. Gopinath is the managing director of Deccan Aviation Ltd. (Air Deccan, now Kingfisher Red), a no-frills, low-cost airline service in India. He is also a pioneer in the field of organic farming and sericulture. In 2007, the French government gave him the Chevalier de la Légion d’Honneur award for his contributions toward Indo-French cooperation in aviation. Gopinath is an ex–army officer who graduated from India’s National Defense Academy.

Akhil Gupta is a senior managing director of The Blackstone Group and chairman of Blackstone India based in Mumbai; previously he served as CEO, Corporate Development, for Reliance Industries Ltd. and Reliance Infocomm Ltd. He began his career at Hindustan Unilever, India’s multinational corporation, worked with Strategic Planning Associates and ICF in Washington, DC, and then served as an officer with several American retail/manufacturing firms. He received his BTech degree in chemical engineering from the Indian Institute of Technology, Delhi, and an MBA from Stanford University.

Dipak Gupta is executive director of Kotak Mahindra Bank Ltd. and has over eighteen years of experience in the financial services sector, fourteen years of which have been with the Kotak Group. Prior to joining the Kotak Group, he was with A.F. Ferguson and Company for approximately six years. Gupta has a BE (electronics) degree and a PGDM from the Indian Institute of Management, Ahmedabad.

S. Hajara is executive chairman and managing director of Shipping Corporation of India Ltd., the largest shipping company in the country. He is a member of the CII national council and has served as a delegate to many international conferences on shipping and maritime matters. Hajara has a PGDM from IIM, Kolkata, and an LLB degree from Kolkata University.

Kewal Handa is managing director of Pfizer Ltd. (India). He is also a visiting faculty member at the Narsee Monjee Institute of Management Studies and an international trainer of the Indian Junior Chamber. Handa is a member of the Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India. He holds a master’s degree in commerce from Sydenham College, Mumbai.

Rajesh Hukku is the executive chairman and managing director of i-Flex Solutions Ltd., a global banking software company with customers in more than 120 countries. Prior to leading i-Flex, he worked for Tata Consultancy Services and headed Citicorp Overseas Software. Hukku received a bachelor’s degree (honors) in electrical and electronics engineering from the Birla Institute of Technology and Science in Pilani, Rajasthan.

Rajesh Jain is founder and managing director of Netcore Solutions Pvt. Ltd., a software solutions company. He is best known for his launch of the Indian Web portal India World in 1995. India World was acquired by Satyam Infoway (Sify) in November 1999 for $115 million in one of Asia’s largest Internet deals. Jain has an MS from Columbia University and a BTech from IIT, Mumbai.

Naveen Jindal is executive vice chairman and managing director of Jindal Steel & Power Ltd. In addition to his executive duties, he is also a member of Parliament from the Kurukshetra constituency. Jindal led a successful campaign resulting in the India Supreme Court’s historic judgment in 2004 affirming Indians’ right to fly the national flag freely. He holds an MBA from the University of Texas.

Sajjan Jindal is the vice chairman and director of JSW Steel Ltd. and director of JSW Energy Ltd. He has over twenty years’ experience in the steel industry and developed several new kinds of steel. Additionally, he is on the board of governors of the Indian Institute of Management, Indore, and is a member of the TTD Development advisory council and the Bombay chapter of the Young Presidents’ Organization.

Praveen Kadle is the executive director, finance, for Tata Motors Ltd. (Tata Group). Prior to joining Tata Motors, Kadle was chief financial officer of Tata-IBM Ltd. He is also a member of the Institute of Chartered Accountants of India, the Institute of Cost and Works Accountants of India, and the Institute of Company Secretaries of India. Kadle is an honors graduate in commerce and accountancy from Mumbai University.

K. V. Kamath, former chief executive of India’s second-largest banking and financial services conglomerate, ICICI, joined the company in 1971, moved to the Asian Development Bank in 1988, and returned to ICICI in 1996 as managing director and CEO. He became the nonexecutive chairman of ICICI Bank effective May 1, 2009. He served as president of the Confederation of Indian Industry, the nation’s leading business association, from 2008 to 2009.

Rana Kapoor is founder, managing director, and CEO of Yes Bank Ltd. Kapoor is a member of the CII national council, FICCI’s national executive committee, and the government of India’s Board of Trade. Ernest & Young named him Start-up Entrepreneur of the Year 2005. He holds an MBA degree from Rutgers University in New Jersey (1980), and a bachelor’s degree in economics (honors) from the University of Delhi (1977).

Anil Khandelwal serves the Bank of Baroda as its chairman and managing director. With over thirty-five years of banking experience, he has also been a member on several government committees, the Reserve Bank of India, and the Indian Banks’ Association. Khandelwal holds a bachelor’s degree in chemical engineering, a master’s degree in business administration, a doctorate degree in management, and a postgraduate degree in law.

Jagdish Khattar served as the managing director of Maruti Suzuki India Ltd., a major automobile manufacturer in South Asia. Prior to this experience, Khattar, an officer of the Indian Administrative Services, held many government positions overseeing numerous Indian industries, including tea, steel, cement, and road transportation. Khattar completed his bachelor in arts (honors) degree from St. Stephen’s College, University of Delhi, and his LLB from Delhi University.

Habil Khorakiwala is chairman of the Wockhardt Group. He is the president of FICCI and a member of the National Manufacturing Competitiveness Council, established by Prime Minister Manmohan Singh. He is the former president of the Indian Pharmaceutical Alliance (IPA), the leading association of research-based Indian pharmaceutical companies. He holds a master’s degree in pharmaceutical science from Purdue University and is an alumnus of Harvard Business School.

Chanda Kochhar became the CEO and managing director of ICICI Bank, India’s second-largest bank and financial services firm, in May 2009. Prior to that, she was the CFO and joint managing director of ICICI Bank. From 2007 to 2009, she headed the Corporate Center, responsible for ensuring strategic consistency across ICICI’s business activities. Kochhar has consistently figured in Fortune’s list of “Most Powerful Women in Business” since 2005.

Manoj Kohli is CEO and joint managing director of Bharti Airtel Ltd., a cellular service provider. Previously, Kohli held multiple roles as president and CEO, head of mobile services at Bharti Airtel. Kohli holds degrees in commerce and law and an MBA from Delhi University. He also attended the Executive Business Program at the Michigan Business School and the Advanced Management Program at Wharton.

Naveen Kshatriya is managing director of Castrol India Ltd., which provides oil lubricants for cars, motorcycles, and commercial vehicles. He started his career with Hindustan Lever and eventually joined the board of Castrol India as director, Consumer Division, in 1998. In early 2000 he was assigned to Hong Kong as regional marketing director, Castrol (Consumer) Asia Pacific. Kshatriya graduated in mechanical engineering from IIT, Kharagpur, in 1971.

M. Lakshminarayan is joint managing director (JMD) of Motor Industries Company Ltd. (MICO), a flagship of the Bosch Group in India. After working for Tata Motors at the Pune plant for over sixteen years, he joined MICO in 1987. In 2000 he became a MICO board member and was designated the JMD in charge of manufacturing. Lakshminarayan holds a master’s degree in technology from the Indian Institute of Technology, Mumbai.

Vijay Mahajan is BASIX Group CEO and managing director of BSFL. He is a member of the Committee on Financial Inclusion, the Microfinance Equity and Development Fund, and is also on the board of Consultative Group to Assist the Poor (CGAP). He was selected as Outstanding Social Entrepreneur at the World Economic Forum, 2003. Mahajan was educated at IIT, Delhi; IIM, Ahmedabad ; and the Woodrow Wilson School of Public and International Affairs at Princeton.

Anand Mahindra is vice chairman and managing director of Mahindra & Mahindra Ltd., an international operation specializing in automobiles and farm equipment. He is a past president of the Confederation of Indian Industry and the Automotive Research Association of India. Mahindra is an alumnus of both Harvard College (1977) and Harvard Business School (1981), and is currently on Harvard Business School’s Asia Pacific board.

Harsh Mariwala is executive chairman and managing director of Marico Ltd., a business specializing in hair care, skin care, and healthy foods. Mariwala is also vice president of FICCI. Under Mariwala’s leadership, Marico has been rated as one of “India’s Most Innovative Companies” (Business Today–Monitor Group Innovation Study, 2008). Marico was selected as one of eight Indian companies in S&P’s Global Challengers list (2007).

Kiran Mazumdar-Shaw is executive chairman and managing director of Biocon Ltd., a global biotechnology firm based in Bangalore, India. She presently serves on the advisory council of the government’s Department of Biotech, which is responsible for charting a progressive growth path for Indian biotechnology. She has been presented with the Padma Shri and Padma Bhushan awards by the president of India for her pioneering efforts in industrial biotechnology.

Rakesh Mehrotra is the managing director of Container Corporation of India Ltd. (CONCOR), an Indian government enterprise operating inland transport services, clearance, and cargo-handling facilities throughout India. Prior to being managing director, he was director (projects) for CONCOR. Mehrotra also serves on the boards of Fresh and Healthy Enterprises Ltd., a subsidiary, and Gateway Terminals India Pvt. Ltd., a joint venture.

Sunil Bharti Mittal is executive chairman and group CEO of Bharti Enterprises. He is a member of the prime minister’s Council on Trade and Industry and is also a founder, past president, and member of various telecom industry associations. Mittal is the honorary consul general of the Republic of Seychelles in India. He graduated from Punjab University and completed the Owner/President Management Program from Harvard Business School in 1999.

Nachiket Mor is president of the ICICI Foundation for Inclusive Growth. Formerly, he was deputy managing director of ICICI Bank Ltd. He started his career as an officer in the Corporate Planning and Policy Cell of ICICI in 1987. Mor holds a postgraduate diploma in finance management from the Indian Institute of Management, Ahmedabad, and a doctorate of philosophy in financial economics from the University of Pennsylvania.

P. K. Mukherjee is managing director of Sesa Goa Ltd., a company that produces and distributes iron ore, pig iron, and metallurgical coke. He was appointed as director of Sesa Goa in 2000 and managing director in 2006. He has twenty-seven years’ experience in finance, accounting, costing, taxation, and legal. He also serves on the board of the Sesa Community Development Foundation. Mukherjee has a BCom (honors) FCA, AICWA.

N. R. Narayana Murthy is the joint chairman and chief mentor of Infosys Technologies Ltd., a Bangalore-based information technology consulting and software services provider with dual listings on the NASDAQ and BSE stock exchanges, and operations in more than fifteen countries. In 2008, he was awarded the Padma Vibhushan, the second-highest civilian award by India, and the Légion d’Honneur, the highest civilian award by France.

B. Muthuraman is managing director of Tata Steel Ltd. (Tata Group). Muthuraman joined Tata Steel as a graduate trainee in 1966 and was appointed executive director (special projects) in 2000. He became managing director of Tata Steel Ltd. in 2001. Muthuraman has a degree in metallurgical engineering from the Indian Institute of Technology (IIT), Madras, and a master’s degree in business administration from Xavier Labour Relations Institute (XLRI), Jamshedpur.

Rajat M. Nag is managing director general of Asian Development Bank (ADB). Previously, he headed ADB’s Southeast Asia department and served as special adviser to the president on regional economic cooperation and integration. A Canadian national, he holds engineering degrees from the University of Saskatchewan (Canada) and the Indian Institute of Technology, Delhi. He also obtained master’s degrees in business administration from Canada and in economics from the London School of Economics.

M. V. Nair is chairman and managing director (CMD) of Union Bank of India Ltd., a public-sector bank. He started out with Corporation Bank in 1970 and became CMD of Union Bank in 2006. Nair is chairman of the Indian Banks’ Association, board member of Institute of Banking Personnel Selection, and vice president of the governing council of the Indian Institute of Banking and Finance.

Vivek Nair is vice chairman and managing director of Hotel Leela Venture Ltd. He is also the honorary secretary of the Federation of Hotels and Restaurants Association of India, which represents 1,800 hotels and 800 restaurants in the country. After graduating from St. Xavier’s Collage, Mumbai, Nair completed the Postgraduate Program in Hotel Management from Cornell University’s School of Hotel Administration in Ithaca, New York.

Lakshmi Narayanan is vice chairman of Cognizant Technology Solutions, a U.S.-based Indian firm specializing in IT services like programming and Web design. In addition, Narayanan serves as chairman of the board of NASSCOM and is a member of the board of the U.S.-India Business Council. He has also received many industry accolades, including the Economic Times’ Entrepreneur of the Year 2005.

V. R. S. Natarajan is executive chairman and managing director of Bharat Earth Movers Ltd. (BEML), a public-sector undertaking (PSU) based in Bangalore, India. BEML manufactures a wide range of heavy construction machinery to meet the needs of the mining, construction, power, cement, and steel sectors. Natarajan started his career in the sugar and textile industries and served in a variety of PSUs prior to his joining BEML.

Anand Nayak is head of human resource development for ITC Ltd., a diversified Indian tobacco, foods, apparel, and hotels firm with a market capitalization in excess of US$10 billion. He is also a director on the board of ITC Infotech India Ltd. Nayak has been with ITC for more than thirty years. A postgraduate in industrial relations from XLRI, Jamshedpur, Nayak has spent his entire career with ITC.

Vineet Nayar is the CEO of the $2.2 billion HCL Technologies Ltd., leading a team of 54,216 professionals in twenty countries to drive growth in the IT services industry. He also serves on the board of the company as a full-time director. Nayar has instituted several radical programs that began a quiet transformation across the organization. His mantra of “Employee First” and a strong belief in value-based leadership has been recognized globally. Fortune magazine has articulated his leadership style as “The World’s Most Modern Management.”

H. V. Neotia is the former managing director of Ambuja Cement Eastern Ltd. and currently serves as the chairman of Ambuja Realty Group. The government of India gave him the Padma Shri award in 1999 for his initiatives in forging public-private partnerships to develop social housing. He has a BCom (honors) degree and completed the Owner/President Management Program (OPM) at Harvard Business School.

T. V. Mohandas Pai is a board member and director of HR, education and research, and administration for Infosys Technologies Ltd. He joined Infosys in 1994 and has served as a director since 2000. He was the chief financial officer until 2006. He has a bachelor’s degree in commerce from St. Joseph’s College of Commerce, Bangalore, an LLB degree from Bangalore University, and is a Fellow Chartered Accountant.

Deepak Parekh is executive chairman of Housing Development Finance Corporation Ltd. (HDFC), which promotes Indian home ownership. Parekh joined HDFC in a senior management position in 1978, became a director in 1985, and was appointed chairman in 1993. Parekh is the youngest recipient of the Economic Times’ Lifetime Achievement Award. He is a Fellow of the Institute of Chartered Accountants (England and Wales).

Allen Pereira is the former executive director of Oriental Bank of Commerce Ltd. He is currently chairman and managing director of the Bank of Maharashtra. He started his banking career as personnel officer with Syndicate Bank in 1973 and eventually became an adviser for personnel and industrial relations for the Indian Banks’ Association. He was appointed executive director of Oriental Bank of Commerce in 2006. Pereira has a postgraduate degree in social work with a specialization in labor and personnel administration.

Ajay Piramal is executive chairman of Nicholas Piramal India Ltd. (NPIL), India’s second-largest pharmaceutical health-care company, as well as Piramal Enterprises Group. He is a member of the World Economic Forum’s Governors’ Forum on Healthcare. He is also the chairman of the drugs and pharmaceuticals committee of the Confederation of Indian Industries. Recently, the Entrepreneur of the Year award was conferred on him by Prince Andrew, Duke of York.

Satish Pradhan is executive vice president, group human resources, for Tata Sons Limited (Tata Group). Prior to joining the group in 2001, he worked for various public- and private-sector companies, including SAIL, CMC Ltd., ICI India Ltd., Brook Bond Lipton India Ltd., and ICI Plc. He served on the CII national committee on human resource development and women’s empowerment. Pradhan has a master’s in history from Delhi University.

G. V. Prasad is vice chairman and chief executive officer of Dr. Reddy’s Laboratories Ltd., a major Indian pharmaceutical company with global reach. Previously, he was managing director of Cheminor Drugs Ltd., which merged with Dr. Reddy’s. Prasad earned his bachelor’s degree in chemical engineering from the Illinois Institute of Technology in Chicago in 1982 and his master’s in industrial administration from Purdue University in 1983.

Azim Premji is chairman and managing director of Wipro Ltd., a $5 billion revenue information technology, business process outsourcing, and R&D services organization with a presence in over fifty countries. BusinessWeek listed him among the top thirty entrepreneurs in world history (July 2007). He is a nonexecutive director on the board of the Reserve Bank of India. Premji is a graduate in electrical engineering from Stanford University.

Aditya Puri has been managing director of HDFC Bank Ltd. since 1994. He has over twenty-seven years of banking experience in India and abroad. Prior to joining the bank, Puri was the chief executive officer of Citibank, Malaysia, from 1992 to 1994. Puri holds a bachelor’s degree in commerce from Punjab University and is an associate member of the Institute of Chartered Accountants of India.

Madhabi Puri-Buch served as executive director of ICICI Bank from June 2007 to January 2009. She has been chief executive officer and managing director of ICICI Securities since February 1, 2009. She is also acting as the head of operations and group corporate brand officer at the bank. She is a graduate in mathematical economics and has a postgraduate degree in management from the Indian Institute of Management, Ahmedabad.

Subir Raha is the former chairman and managing director of Oil and Natural Gas Corporation Ltd. (ONGC), India’s number one company in the Forbes Global 2000 ranking. He was also chairman of the wholly owned subsidiary, ONGC Videsh Ltd. (OVL), Mangalore Refinery and Petrochem Ltd., and other group companies. Raha was recognized as the Global Petroleum Executive of the Year 2005 by the Petroleum Economist, London.

B. Ramalinga Raju is the former executive chairman of Satyam Computer Services Ltd. Raju founded Satyam Computer Services in 1987 and had been instrumental in developing Satyam into one of India’s top IT services companies. He resigned in 2009 due to accounting irregularities. Raju received an MBA degree from Ohio University and attended Harvard Business School’s Advanced Management Program.

Arun Bharat Ram is executive chairman of SRF Ltd., a producer of chemicals and technical textiles, especially nylon cords for tires. He is the past president of the Association of Synthetic Fibre Industry and has served on many government-industry committees. He was also president of CII (2000–2001) and is currently the chairman of CII International. Ram graduated from the University of Michigan with a degree in industrial engineering.

K. Ramachandran is the former vice chairman, managing director, and CEO-India for Philips Electronics India Ltd. He worked in Tata Administrative Service, Voltas Ltd., before moving to Philips India in 1993. He was appointed vice chairman, managing director, and CEO-India in 1998. Ramachandran has a BE in electrical engineering from BITS, Pilani, and a postgraduate degree in business management from IIM, Calcutta.

S. Ramadorai is the CEO and managing director of Tata Consultancy Services Ltd. (Tata Group). He is a member of the corporate advisory board, Marshall School of Business (USC), a fellow of the IEEE and the Indian National Academy of Engineers, and a past chairman of the National Association of Software Companies (NASSCOM). In 2006, the government of India honored Ramadorai with the Padma Bhushan award.

K. Ramakrishnan is the former chairman and managing director of Andhra Bank. Prior to joining Andhra Bank in 2005, he was executive director of the Bank of Baroda. From 2005 to 2006, he was a member of the legal and banking operational committee of the Indian Banks’ Association. Ramakrishnan has an MBA and was awarded an honorary doctorate of letters from Acharya Nagarjuna University for his contribution to Indian banking.

C. K. Ranganathan is chairman and managing director of CavinKare Pvt. Ltd., which manufactures and markets brands relating to personal care, home care, and food products. The Economic Times named him Entrepreneur of the Year in 2004, and in 2008 he served as vice chairman of the Confederation of Indian Industry, Tamil Nadu. He is one of the founder-members of the Ability Foundation, an NGO that rehabilitates the disabled.

G. M. Rao is founder, chairman, and managing director of the GMR Group of companies, which has a strong presence in power, infrastructure, and manufacturing. He is also chairman of the philanthropic GMR Varalakshmi Foundation. Rao is a graduate in mechanical engineering from Andhra University and was awarded a doctorate in philosophy degree by Jawaharlal Nehru Technological University, Hyderabad, in 2005 in recognition of his service to industry.

M. B. N. Rao served as chairman and managing director of Canara Bank from 2005 to 2008. Under Rao’s guidance, Canara Bank received the National Award for Excellence in Lending to Micro and Small Enterprises for the Year 2006–2007 from Prime Minister Manmohan Singh. Rao is a member of the Indian Institute of Bankers and the Singapore Institute of Management. He holds a diploma in computer studies from the University of Cambridge and National Computing Centre, London, and a certificate in industrial finance.

Prathap C. Reddy is founder and executive chairman of Apollo Hospitals Enterprise Ltd. Dr. Reddy received the Padma Bhushan award in 1991 for transforming Indian health care; he also received a Citizen of the Year award from Mother Teresa in 1994. Dr. Reddy, a cardiologist, received a bachelor’s degree in medicine and surgery (MBBS) from Stanley Medical College, Madras, and is a fellow of the Royal College of Surgeons.

P. V. Ramaprasad Reddy is the chairman of Aurobindo Pharma Ltd., a Hyderabad-based firm that manufactures and exports generic pharmaceuticals and active pharmaceutical ingredients to over one hundred countries. Aurobindo has operations in India, Thailand, the United States, Hong Kong, Brazil, and China, and has annual sales in excess of US$350 million. Reddy, who has a postgraduate degree in commerce, helped cofound the company in 1986.

Mukesh Rohatgi is executive chairman and managing director of Engineers India Ltd. (EIL), which provides engineering and related technical services for petroleum refineries and other large-scale infrastructure projects. Rohatgi has a background in the petroleum industry, having joined Bharat Petroleum Corporation Ltd. (BPCL) in 1982 and becoming its director (refineries) in 2002. Construction World named EIL among the “Most Admired Companies” in 2007.

S. K. Roongta is chairman of Steel Authority of India Ltd. (SAIL), the largest steel-producing company in the country. An engineering graduate from BITS, Pilani, and a postgraduate in international trade from the Indian Institute of Foreign Trade (IIFT), New Delhi, Roongta started his career at SAIL in 1972. He became SAIL chairman in 2006 and serves on the board of the International Iron and Steel Institute (IISI) in Brussels.

Raman Roy, widely considered a pioneer in the Indian business process outsourcing (BPO) industry, is chairman and managing director of Quatrro BPO Solutions Pvt. Ltd. Prior to his work with Quatrro, he was chairman and managing director of Wipro Spectramind. Roy was awarded the Dataquest Pathbreaker Award in 2002 for directly creating 35,000-plus jobs in India and indirectly enabling the employment of 350,000 people by creating the BPO industry.

Raaj Sah is a professor in the Harris School of Public Policy Studies and the College, and an associated faculty member in the Department of Economics, University of Chicago. He has previously taught at the Massachusetts Institute of Technology, Yale University, Princeton University, and the University of Pennsylvania. He received a PhD in economics from the University of Pennsylvania and an MBA from the Indian Institute of Management, Ahmedabad.

B. Sambamurthy is executive chairman and managing director of Corporation Bank. A chartered accountant by training, he joined Syndicate Bank in 1978, was appointed executive director of Indian Bank in 2004, and became executive chairman of Corporation Bank in 2006. Sambamurthy was a member of the Export Advisory Committee and Standing Committee on Forex Clearing for the Reserve Bank of India. He was also the additional vice chairman of the Foreign Exchange Dealer’s Association of India (FEDAI).

T. Sankaralingam served as chairman and managing director of NTPC Ltd., an energy company, from 2006 to 2008. Previously, Sankaralingam worked twenty-seven years for NTPC in various capacities. He also served with Bharat Heavy Electricals Ltd. and the Tamil Nadu Electricity Board. In recognition of his expertise, Sankaralingam was elected as vice chairman of CIGRE, India, and given the Eminent Engineer Award by the Institution of Engineers (India).

B. Santhanam is chairman and managing director of Saint-Gobain Glass India Ltd., a manufacturer of automotive glass and other float-glass products. Santhanam is also promoter-director for Saint-Gobain Sekurit India Ltd., as well as chairman of the CII, southern region, Task Force on Skills, Employability, and Affirmative Action. Santhanam has a BTech degree from IIT, Madras, and a PG Diploma-Management from IIM, Ahmedabad.

R. Santhanam is managing director and executive director of Hindustan Motors Ltd. (Birla Group). He began his career with Telco and served with Eicher Tractors, TVS Suzuki, Hindustan Motors, Mahindra & Mahindra, and Mahindra Holidays Resorts India Ltd. as managing director and CEO. Santhanam is a mechanical engineer from IIT, Madras; has an MBA from IIM, Calcutta; and is a fellow of the Advanced Management Program, Harvard Business School.

Sanjeev Sanyal is a leading Asian economist whose work is widely quoted in the international financial media. From 1997 to 2008, he was an economist at Deutsche Bank in charge of analyzing both Asian and global markets. Sanyal is also the founder of the Sustainable Planet Institute. Sanyal has a BA (honors) from Delhi University and two master’s degrees from Oxford University, where he was a Rhodes scholar.

Partha Sarkar is a board member for Capital Factors and Recoveries Ltd., Escorts Automotive Ltd., and Escorts Consumer Credit Ltd. Previously, Sarkar worked for Hindustan Unilever, Tata Finance, RPG Itochu Finance, and Tata Administrative Services. He became CEO of Escorts Finance in 2000 and served as managing director from 2001 to 2006. Sarkar has a BTech from IIT, Delhi, and a PGDBA from IIM, Ahmedabad.

Anil Sharma is vice president, human resources, at ITC’s Hotels Division. He began his career in the public sector, followed by stints at Ranbaxy and Modi Cement. He joined ITC in 1985, and working primarily in human resources at the company, he spent six years in the Hotels Division in general management assignments and several years as the general manager, operations, Fortune Hotels. He has also served as an executive assistant to the chairman.

Kamal K. Sharma is managing director of Lupin Ltd., a pharmaceutical manufacturer. In a career spanning more than three decades, Sharma has held a range of senior management positions in the pharmaceuticals and chemicals industries. Sharma is a chemical engineer from IIT, Kanpur, with a postgraduate diploma in industrial management from Jamnalal Bajaj Institute of Management Studies, Mumbai, and a PhD in economics from IIT, Mumbai.

Percy Siganporia is managing director of Tata Tea Ltd. (Tata Group). He first joined the Tata Group of companies in 1974 as a Tata administrative services officer. In 1975 he moved into marketing for Tata Tea and then became executive director in 2000 and managing director in 2004. Siganporia is a graduate in science, and has a postgraduate degree in business management (XLRI).

Analjit Singh is the founder and chairman of Max India Ltd., chairman of Max New York Life Insurance Company Ltd., and chairman and managing director of Max Healthcare Institute Ltd. As the company’s first managing director, Singh led the company into the bulk pharma business and its subsequent diversification into telecom, specialty products, electronic components, and chemicals. Singh has an MBA from the Graduate School of Management, Boston University.

Malvinder Mohan Singh is the chairman and CEO of Ranbaxy Laboratories, a prominent Indian pharmaceutical manufacturing firm, which Japan’s Daiichi Sankyo acquired in 2008. Singh is a member of the Board of Trade, Ministry of Commerce and Industry, government of India. He is also a member of the national council of the Confederation of Indian Industry. Singh received his MBA from Duke University’s Fuqua School of Business.

Ashok Sinha is the chairman and managing director of Bharat Petroleum Corporation Ltd. (BPCL). Prior to his appointment as CMD, he was director (finance) of BPCL. In 2001, the Economic Intelligence Unit (EIU) India and American Express gave him the India CFO Award for information and knowledge management. Sinha is a graduate in electric engineering from IIT, Kanpur, and has an MBA from the Indian Institute of Management, Bangalore.

P. M. Sinha is the former chairman of PepsiCo India Holdings Pvt. Ltd., and the former president of PepsiCo International South Asia and Pepsi Foods Ltd. He currently serves on the boards of BATA India, ICICI Bank, Indian Oil Corporation, and Wipro Ltd. In addition to his business duties, he has been chair of several FICCI committees. Sinha was educated at the MIT Sloan School of Management.

R. S. P. Sinha is chairman and managing director of Mahanagar Telephone Nigam Ltd. (MTNL), a telecommunications firm majority-owned by the Indian government. Previously, he was director (finance) for MTNL and also director (finance) on the board of Hindustan Organic Chemicals Ltd. (HOCL) and Videsh Sanchar Nigam Ltd. (VSNL). Sinha’s educational accomplishments include BS (electrical engineering), master of business management (finance), CAIIB, LLB, and ICWA.

Ashok Soni is the managing director of Voltas Ltd., a refrigeration and heating equipment manufacturer that is part of the Tata Group. Prior to joining Voltas, Soni had worked with the ICI Group for fourteen years as works accountant and corporate taxation manager. He was also associated with Wimco Ltd. for five years, where he held the positions of chief accountant, financial controller, and general manager (finance).

Ashok Soota is chairman and managing director of MindTree Consulting Ltd. Soota was president of the Confederation of Indian Industry during 2002–2003, and served on the Indian prime minister’s task force for development of the IT industry. Soota holds a Bachelor of Science degree in electrical engineering from the University of Roorkee (IIT, Roorkee) and an MBA degree from the Asian Institute of Management in the Philippines.

Mallika Srinivasan is a director of Tractors and Farm Equipment (TAFE), a privately held Chennai-based firm that is the second-largest manufacturer of tractors in India. In addition to having chief executive responsibilities at TAFE, she is also on the executive board of the Indian School of Business. In 2007, Business Today named her as one of the twenty-five most powerful women in Indian business. She received her MBA from the Wharton School of the University of Pennsylvania.

Ravi Uppal was named managing director and CEO of L&T Power in January of 2009. Prior to that position, he was the head of global markets and member of the group executive committee of ABB Ltd., Switzerland. He is a 2005 graduate of Wharton’s Advanced Management Program and serves on the board of governors of the Indian Institute of Management in Bangalore, India.

Questions for the Primary Interviews

We used twelve main questions with the primary interview group, with follow-up questions added as appropriate, and we recorded and transcribed the interviews:

  1. Leadership
    1. What are the top two leadership capacities that have been most critical for the exercise of your leadership during the past five years?
    2. In your experience, how are Indian business leaders different from those from other countries, especially the U.S.?
    3. How have you built competitive advantage in your businesses? In what ways do resources beyond the division, such as corporatewide resources or business group resources, contribute to this advantage?
    4. Considering your various roles as a CEO, how has your time allocation for each of the following tasks changed over the past three years? Are you spending more time, about the same amount of time, or less time on each task?
      1. Regulatory/compliance issues
      2. Reporting to the board
      3. Shareholder relations
      4. Setting strategy
      5. Media relations
      6. Day-to-day management
      7. Fostering workplace diversity
      8. Customer relations
  2. Governance
    1. What are the two most distinctive aspects of corporate governance practices in India compared to the U.S.?
    2. Will your governance practices eventually converge with those of the U.S., or will they remain distinct?
    3. When it comes to acquisitions, divestitures, and strategic alliances, what value have nonexecutive directors brought to the decisions?
    4. What are the two most important criteria you have used in selecting nonexecutive directors?
  3. Human Resource Management
    1. Please rank the following seven roles for you as a CEO:
      1. A guide or teacher for employees
      2. Chief input for business strategy
      3. Keeper of organizational culture
      4. Representative of owner and investor interests
      5. Representative of other stakeholders (e.g., employees and the community)
      6. Civic leadership within the business community
      7. Civic leadership outside the business community
    2. What are the two most important pieces of advice you will give your successor?
    3. What are the top two priorities for human resources in the company?
    4. Projecting yourself five years into the future, what will be your single most significant “legacy” as leader of the company?

The Survey of Indian Human Resource Executives

To better understand the India Way and to make comparisons with it and U.S. practices more explicit, we identified previous surveys of large American firms on topics of relevance to our work and then replicated those surveys with the Indian companies. The top human resource executives in the Indian companies—virtually all of whom hold titles equivalent to executive vice-president level in U.S. firms—submitted the data for their organization. Of the firms where we interviewed the top executive, 70 percent completed our survey. The Indian firms that responded are identified in table B-4.

We also asked the human resources executives to assess their top executive using a standard assessment of the capabilities of leaders, the Multifactor Leadership Questionnaire. We then compared the results with those from reasonably equivalent surveys in the United States to give us a comparable assessment of American business leaders. The downside of this approach is that we have no control over the sampling frames used in the U.S. surveys. While most of the American surveys we used are based on large companies, they are not drawn from the 150 largest companies in the United States, which would be the Indian equivalent. The sampling frames differ across the various U.S. surveys that we obtained, and their response rates were not always reported, although all those that are reported are lower than for our Indian survey. We should thus be less confident about the U.S. figures than about the Indian results. Because of these limitations, it is appropriate to limit the analyses that compare Indian and American responses to simple descriptive statistics. The comparisons on which we focus are only those where the differences between Indian and American responses are large enough to give us confidence that those differences are real. We recognize the limitations of the U.S. data in particular and therefore the comparisons drawn from them. The survey can be found at http://whartonsurveys.org/hr, and it follows here:

Wharton National HRD Network Survey

The following survey is being conducted by Wharton School faculty for the National Human Resources Development Network (NHRDN) as part of our study of Indian business leadership.

We are surveying the heads of human resources in those companies whose CEOs we have already interviewed—thanks for your help in arranging those interviews. Our goal is to supplement those interviews with some additional information about the management of your companies and also to collect some data on human resource practices that will be of interest to you and your colleagues in NHRDN.

For most of these questions, we also have responses from U.S. employers, so we will be able to report not only about Indian practices but also how they compare to those in the U.S.

The survey is anonymous; while we will combine your responses with those of your CEO for the purposes of analyzing the aggregate results, we will not use or reveal individual responses to this survey.


1. What company do you work for?

e9781422157848_i0046.jpg

2. These questions ask about HR’s role in the overall objectives of your company. To what extent is each of the following statements true in your organization. (Please check next to an answer)

HR works closely with senior management in implementing organizational strategies. HR is involved in the alignment of the business goals.
__ To no extent
__ To no extent __ To some extent
__ To some extent __ To a large extent
__ To a large extent The role of HR is increasingly more focused on strategic interests.
HR works closely with senior management in creating organizational strategies.
__ To no extent
__ To some extent
__ To no extent __ To a large extent
__ To some extent HR involvement is essential in all major business activities and decisions.
__ To a large extent
HR has achieved a level of respect that is comparable with other departments in the organization.
__ To no extent
__ To some extent
__ To no extent __ To a large extent
__ To some extent HR is involved in the development of the business goals.
__ To a large extent
Senior management realizes that investments in HR make financial sense. __ To no extent
__ To some extent
__ To a large extent
__ To no extent HR is involved in monitoring the achievement of business goals.
__ To some extent
__ To a large extent __ To no extent
HR implements strategies and processes to drive business results. __ To some extent
__ To a large extent
__ To no extent HR creates strategies and processes to drive business results.
__ To some extent
__ To a large extent __ To no extent
HR is involved in the communication of the business goals. __ To some extent
__ To a large extent
__ To no extent
__ To some extent
__ To a large extent

3. These questions ask about the competencies you believe are important for HR executives and managers.

Level 1: Early Career Level HR Executives and Managers

What are the five most important competency domains for early career level HR executives and managers? Please circle five (5) from the following:

Accounting
Business Ethics
Business Law
Change Management
Compensation
Employee Benefits
Employment Law
Financial Management
General Negotiation Skills
(Not labor contracts)
Global Business
HR Impact on Mergers and
Acquisitions
HR Measurement and Metrics
Information Systems / Information
Technology
Interpersonal Communication
Skills
Leadership
Management of Diversity
Management of Employees
Marketing
Organizational Development
Performance Management
Presentation Skills
Safety and Security
Staffing and Selection Techniques
Statistics
Strategic Business Management
and Planning
Strategic Human Resource
Management
Written Communication Skills

Level 2: Mid-Career Level HR Executives and Managers

What are the five most important competency domains for mid-career level HR executives and managers? Please circle five (5) from the following:

Accounting
Business Ethics
Business Law
Change Management
Compensation
Employee Benefits
Employment Law
Financial Management
General Negotiation Skills
(Not labor contracts)
Global Business
HR Impact on Mergers and
Acquisitions
HR Measurement and Metrics
Information Systems / Information
Technology
Interpersonal Communication
Skills
Leadership
Management of Diversity
Management of Employees
Marketing
Organizational Development
Performance Management
Presentation Skills
Safety and Security
Staffing and Selection Techniques
Statistics
Strategic Business Management
and Planning
Strategic Human Resource
Management
Written Communication Skills

Level 3: Senior Career Level HR Executives and Managers

What are the five most important competency domains for late career level HR executives and managers? Please circle five (5) from the following:

Accounting
Business Ethics
Business Law
Change Management
Compensation
Employee Benefits
Employment Law
Financial Management
General Negotiation Skills
(Not labor contracts)
Global Business
HR Impact on Mergers and
Acquisitions
HR Measurement and Metrics
Information Systems / Information
Technology
Interpersonal Communication
Skills
Leadership
Management of Diversity
Management of Employees
Marketing
Organizational Development
Performance Management
Presentation Skills
Safety and Security
Staffing and Selection Techniques
Statistics
Strategic Business Management
and Planning
Strategic Human Resource
Management
Written Communication Skills

Not Critical at Any Level

Which competency domains are not critical at any level? Please circle five (5) from the following:

Accounting
Business Ethics
Business Law
Change Management
Compensation
Employee Benefits
Employment Law
Financial Management
General Negotiation Skills
(Not labor contracts)
Global Business
HR Impact on Mergers and
Acquisitions
HR Measurement and Metrics
Information Systems / Information
Technology
Interpersonal Communication
Skills
Leadership
Management of Diversity
Management of Employees
Marketing
Organizational Development
Performance Management
Presentation Skills
Safety and Security
Staffing and Selection Techniques
Statistics
Strategic Business Management
and Planning
Strategic Human Resource
Management
Written Communication Skills

4. These questions ask about the task of learning, training, and development. Please choose the three most important factors from the list below. For each question, chose from the following factors:

Strategic Implementation Globalization
Transformation Business Unit Enablement
Leadership Development Performance Improvement
Capability Building Innovation
Talent Management

In what area does learning, training, and development have the largest effect?

e9781422157848_i0049.jpg

In what area does learning, training, and development have the second largest effect?

e9781422157848_i0050.jpg

In what area does learning, training, and development have the third largest effect?

e9781422157848_i0051.jpg

5. The questions below ask about the changes that have taken place in your company over the past two years. Please circle every change that you planned or implemented during the 24 months prior to taking this survey.

New/revised performance management and review process. New/revised financial/accounting systems.
Facilities change (e.g., new security procedures, relocation or orga nization’s operations, facility closures). Major staffing changes (e.g., downsizing, layoffs).
Diversity and/or cross-cultural communication initiatives.
Organizational culture changes (e.g., executive leadership turnover, organization values changes). Operational changes in response Operational changes in response to new legislation, changing economic conditions or national/ international events.
New/revised HR information systems (e.g., time tracking software). Product rebranding.
New/revised IT systems (e.g., operating systems, other software). Acquisition.
Offshoring or outsourcing.
Organizational repositioning or re-alignment (including centralization or decentralization, international expansion, market expansion or refocusing or organization mission change). Merger.
Initial public offering or corporate Initial public offering or corporate ownership change.

6. In your opinion, what are the most important roles for business leaders to play in Indian companies. Please rank the following seven roles in order of importance. Please use each number only once.

e9781422157848_i0053.jpg

7. These questions ask about the leadership style of your organization’s chief officer as you perceive it. Please try to answer all of the items. If an item is irrelevant, or if you are unsure or do not know the answer, leave the answer blank.


Please use the following scale when you answer the questions:

e9781422157848_i0054.jpg
e9781422157848_i0055.jpg
e9781422157848_i0056.jpg
e9781422157848_i0057.jpg

8. How much do you agree with each of the ways the following statement can be answered: Your company faces an environment that is well described as . . .

e9781422157848_i0058.jpg

9. How much do you agree that the relationships between the chief executive of your company and the people in the positions listed below are strategic partnerships that help set strategic directions and imperatives for the firm.

e9781422157848_i0059.jpg

10. Please select the answer that best completes each sentence.

Compared to other companies, your company’s competitive position is presently

1 = Underperforming industry peers.


2


3 = At par with industry peers.


4


5 = Outperforming industry peers.

Compared to other companies, your company’s competitive position is presently

1 = in a low growth, mature market


2


3


4


5 = in a high growth, expanding market

Compared to other companies, your company’s competitive position is presently

1 = in a static, largely established environment


2


3


4


5 = dynamic, rapidly changing environment

11. What percentage of your company’s sales revenue comes from outside of India?

e9781422157848_i0060.jpg

12. What percentage of your company’s net income comes from outside of India?

e9781422157848_i0061.jpg

13. What percentage of your company’s employees come from outside of India?

e9781422157848_i0062.jpg

14. What percentage of your company’s shareholders come from outside of India?

e9781422157848_i0063.jpg

15. What percentage of your company’s shares are held by members of the founding family or families?

e9781422157848_i0064.jpg

16. What is your average annual growth rate in sales revenue over the past five years?

e9781422157848_i0065.jpg

17. What is your average annual growth rate in net income over the past five years?

e9781422157848_i0066.jpg

18. What is your average annual growth rate in number of employees over the past five years?

e9781422157848_i0067.jpg

The remainder of the survey asks factual questions about human resource practices. Although they do not take long to complete, if someone on your staff has such information in hand, it would be fine to ask them to complete the remainder of the questionnaire.

19. These questions ask about basic measures of human resource performance:

What is the overall rate of voluntary turnover in your company?

e9781422157848_i0068.jpg

Think about the job in the company that has the most vacancies to fill every year. How many applicants are there for each vacancy?

e9781422157848_i0069.jpg

How long does it take the company to fill each vacancy?

e9781422157848_i0070.jpg

What percentage of vacancies in the company are filled from within, that is, from internal candidates?

e9781422157848_i0071.jpg

What is your total training budget per year?

e9781422157848_i0072.jpg

For new hires who you expect to be in the management ranks, what kind of initial training do they receive?

e9781422157848_i0073.jpg

What percentage of your employees work in teams of some kind?

e9781422157848_i0074.jpg

What percentage work in self-directed teams, that is, with no direct supervisor directing their day-to-day tasks?

e9781422157848_i0075.jpg

20. These questions ask about the outsourcing of practices to vendors or companies outside your own.

How much of the following activities do you currently outsource? Please circle the answer that best corresponds to the question:

Employee administration/ compliance Recruiting
None None
Small Portion
Small Portion Large Portion
Large Portion All
All
Payroll Health/welfare benefits
None None
Small Portion Small Portion
Large Portion Large Portion
All All
Performance evaluation Employee relations
None None
Small Portion Small Portion
Large Portion Large Portion
All All
Pension/retirement
None
Small Portion
Large Portion
All

21. This set of questions asks about the level and structure of pay for your organization’s top five executives and your organization’s directors.

What was the total compensation of your CEO last year (a rough estimate is fine)?

e9781422157848_i0078.jpg

What percentage of that total was in the form of a base salary?

e9781422157848_i0079.jpg

What percentage of that total was in the form of bonuses?

e9781422157848_i0080.jpg

What percentage of that total was in the form of stock or stock-related instruments?

e9781422157848_i0081.jpg

Please describe the payment structure for members of your board of directors.

e9781422157848_i0082.jpg

What was their total compensation for board service last year?

e9781422157848_i0083.jpg

What percentage, if any, of that compensation was tied to the performance of the company?

e9781422157848_i0084.jpg

22. Please select the practices that your company currently uses to train executives and managers. Please place a check next to all responses that apply:

__ Training other than leadership training ___ Matching employees with ‘stretch’ assignments/ opportunities
__ Cross-functional training
__ Leadership training ___ High-visibility assignments/ opportunities to work with executives (e.g., executive task forces)
__ Development planning
__ Apprenticeships/internships (to assess potential future hires) _ Leadership forums (i.e., opportunities for individuals to meet with senior executives in organized events or semiformal settings)
___ Formal coaching
Formal identification of high- potential employees ___ Formal career mentoring (internal program)
___ Formal succession planning processes ___ Job sharing
___ Formal career mentoring (external program)
___ Job rotation

23. This question asks about how performance within human resources is assessed.

How often are metrics or analytics used with the following organizational functions? (Please circle your answer)

Recruitment and selection. Employee relations.
Rarely Rarely
Sometimes Sometimes
Frequently Frequently
Performance management. Health, safety and security programs.
Rarely
Sometimes Rarely
Frequently Sometimes
Frequently Frequently
Compensation management/ reward programs. Budgeting.
Rarely Rarely
Sometimes Sometimes
Frequently Frequently
Benefits management. Retention programs.
Rarely Rarely
Sometimes Sometimes
Frequently Frequently
Employee communication programs. Retirement planning.
Rarely
Rarely
Sometimes Sometimes
Frequently Frequently
Diversity practices. Talent management initiatives.
Rarely Rarely
Sometimes Sometimes
Frequently Frequently
Employee engagement initiatives. Skills development initiatives.
Rarely
Rarely Sometimes
Sometimes Frequently
Frequently Work/life programs.
Analysis of trends and forecasting. Rarely
Sometimes
Rarely Frequently
Sometimes
Frequently Succession planning.
Rarely
Leadership development.
Rarely Sometimes
Sometimes Frequently
Frequently Employment brand strategy/ employment branding.
Human capital measurements. Rarely
Rarely Sometimes
Sometimes Frequently
Frequently

Corporate social responsibility programs.


Rarely


Sometimes


Frequently

Interviews of India Business Leaders Conducted by Knowledge@Wharton

Knowledge@Wharton, the online publication of the Wharton School, has interviewed or profiled a number of Indian business leaders—a valuable resource from which we have also drawn. The interviews are all available online:


Vikram Akula, founder and CEO of SKS Microfinance http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4284


Mukesh and Anil Ambani, promoters, Reliance Group (now split in two) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4043


Subroto Bagchi, chief operating officer, MindTree Consulting http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4184 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4188


Rahul Bajaj, chairman, Bajaj Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4117


Sumit Banerjee, CEO, ACC (formerly Associated Cement Companies) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4313


Sabeer Bhatia, cofounder, Hotmail Corporation http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4385



Kishore Biyani, managing director and promoter-director, Pantaloon Retail (India) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4235



Dilip Chhabria, boutique car designer, DC Design http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4260



T. P. Chopra, CEO, GE India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4293 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4215


Ajai Chowdhry, CEO, HCL Infosystems http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4240



Bharat Desai, CEO and cofounder, Syntel (Michigan-based IT company) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4128



Vinod Dham, “Father of the Pentium” at Intel; cofounder and managing director of NewPath Ventures and NEA-IndoUS Ventures http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4270



Dr. Raj Dharampuriya, cofounder and chief medical officer, eClinicalWorks http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4404


Rono Dutta, former CEO, Air Sahara (now JetLite) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4111


Ramesh Emani, president, Wipro Technologies’ Product Engineering Services business unit http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4046


Sunil Gavaskar, former cricket captain for Team India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4371



Adi Godrej, chairman, Godrej Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4135


S. Gopalakrishnan, CEO of Infosys http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4332


G. R. Gopinath, founder and managing director of Air Deccan (now Kingfisher Red). http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4154


Rajiv Gulati, director of India-China strategy and corporate strategic planning, Eli Lilly http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4325



Ajay Gupta, founder and CEO, ruralnaukri.com http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4362



Rajat Gupta, former worldwide managing director, McKinsey & Company http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4125


Yusuf Hamied, chairman and managing director of Cipla Pharmaceuticals http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4374


Shushil Handa, founder and CEO, Claris Lifesciences http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4360


Remi Hinduja, chairman of HTMT Global Solutions, and Sashi Reddi, CEO of AppLabs Technologies http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4199


Suresh Hiranandani, founder and managing director, Hiranandani Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4120



Rajesh Hukku, executive director and managing director, i-Flex Solutions http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4176 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4180


Raj Jain, president, Wal-Mart India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4305


Rajat Jain, managing director, Walt Disney India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4171



Rajesh Jain, CEO, Netcore http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4069



Hasit Joshipura, vice president–South Asia, and managing director, GlaxoSmithKline http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4373



K. V. Kamath, managing director and CEO, ICICI Bank http://knowledge.wharton.upenn.edu/article.cfm?articleid=1529 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4356



Shobana Kamineni, executive director of new initiatives, Apollo Hospitals http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4363



Rana Kapoor, managing director and CEO, Yes Bank http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4153



Rajeev Karwal, founder and CEO, Milagrow Business and Knowledge Solutions http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4323



Farrokh Kavarana, director of Tata Sons http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4368



Chanda Kochhar, joint managing director and CFO, ICICI Bank http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4257 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4357


Kiran Mazumdar-Shaw, executive chairman and managing director, Biocon http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4144


Hital R. Meswani, executive director, Reliance Industries http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4042


Aditya Mittal, CFO and member the group membership board, Mittal Steel (now ArcelorMittal) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4054


Sunil Bharti Mittal, chairman, Bharti Enterprises http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4306


N. R. Narayana Murthy, chairman and chief mentor of Infosys http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4001 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4004


Shiv Nadar, chairman and CEO, HCL Technologies http://knowledge.wharton.upenn.edu/article.cfm?articleid=1558 http://knowledge.wharton.upenn.edu/article.cfm?articleid=1563


Shantanu Narayen, president and chief operating officer, Adobe Systems http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4191


Vineet Nayar, CEO, HCL Technologies http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4334


Nandan Nilekani, former CEO of Infosys http://knowledge.wharton.upenn.edu/article.cfm?articleid=2290



Girish Paranjape and Suresh Vaswani, co-CEOs of Wipro http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4298



Vivek Paul, partner, Texas Pacific Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4049



Rajendra S. Pawar, chairman and cofounder, NIIT http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4123


Ravilochan Pola, CEO of U.S. operations, Kotak Mahindra http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4311


Azim Premji, chairman, Wipro http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4297 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4059 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4060



V. Raghunathan, managing director of GMR Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4222



Sri Rajan, partner and head of Bain & Company’s private equity practice in India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4291



Sudhakar Ram, CEO, Mastek http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4342



Suneeta Reddy, executive director of finance, Apollo Hospitals http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4301



Raman Roy, founder of Spectramind; current chairman of Quatrro BPO Solutions http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4018 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4019



Manish Sabharwal, chairman, TeamLease http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4186 http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4026


Ronnie Screwvala, managing director and founder-CEO, UTV Software Communications http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4299


Ranjit Shahani, country president, Novartis Group (India) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4286


Gaurav Sharma, strategist, Providence Equity Partners http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4388


Manmohan Shetty, chairman, Adlabs http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4177


V. G. Siddhartha, chairman, Café Coffee Day http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4300


Malvinder Mohan Singh, CEO and managing director, Ranbaxy Laboratories (now part of Daiichi Sankyo in Japan) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4296


Dean Pramath Sinha, founding dean of Hyderabad-based Indian School of Business (ISB) http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4399#


Rohan Sippy, film producer-director http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4377


V. Srinivasan, CEO of IT Services, 3i Infotech, Edison, NJ http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4231



Mak Teje, CEO of AppLabs http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4314


T. N. Thakur, chairman and managing director, Power Trading Corporation http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4393


Gautam Thapar, chairman, Avantha Group http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4351


Y. V. Verma, director of human resources and management support, LG India http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4285


Dilip Vellodi, CEO, Sutherland Global Services http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4345


Vivek Wadhwa, executive-in-residence, Duke University School of Engineering http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4307

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