Indo American News • Friday, August 5, 2011
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Indians at top: 10 global Chiefs Managing Over $400-Billion Business
NEW DELHI (ET): Indians are increasingly rising to the top of global corporate ladders and just 10 of them are together managing business worth over $ 400 billion -- an amount nearly double the total exports from India in a year. So, it does not come as a surprise when CEOs are being billed as the latest and leading export from India, given the multi-national giants like Citigroup, Deutsche Bank, PepsiCo, Unilever, Adobe, Mastercard and Motorola having Indian-origin persons in their top leadership positions. International magazine Time also recently termed CEOs as India’s leading export and said
that the subcontinent could be “the ideal training ground for global bosses”. Experts believe that Indians’ inherent focus on good education and their ability to work in difficult situations is aiding to the trend and more and more Indians could rise to top positions at global companies in near future. There are about a dozen large global companies outside India with Indians or persons of Indian origin in their top management positions, while there are many more dozens at the helm of affairs at mid-level and smaller companies. Germany-based global banking major Deutsche Bank has become
Harish Manwani
Ajit Jain
the latest to join this league with the recent appointment of cricket-freak Anshu Jain as its co-CEO. Jain, who once held a small stake in Indian Premier League cricket team Mumbai Indians of Ambanis, was already handling a large part of $ 55-billion banking giant’s businesses and his elevation to the top has been long awaited. Another India-born banker Vikram Pandit was asked to head $ 111-billion Citigroup at a time when it was deep in financial crisis and he has successfully handled a turnaround. Jain and Pandit are joined by the likes of Indra Nooyi, Lakshmi Mittal, Ajay Banga, Sanjay Jha,
Indra Nooyi
Rakesh Kapoor
Anshu Jain
Shantanu Narayen, Rakesh Kapoor, Harish Manwani and Ajit Jain among those holding top leadership positions at global MNCs. The businesses headed by these ten persons recorded revenue worth $ 410 billion last year and are said to be on a robust growth path for the years to come. This figure is nearly double the value of Indian exports worth about $ 245 billion last fiscal and approximately one- third of total size of the Indian economy. According to global HR major Hay Group, the technical skills and the behavioral patterns of Indians make them adaptable to any kind of situation they come across.
Lakshmi Mittal
Shantanu Narayen
Ajay Banga
Sanjay Jha
Vikram Pandit
Does good education help? Experts believe so, that it does. Indians are focused on good education, they are known for their ability to work hard and in difficult situations. It is seen now that more Indians are rising to top positions in global multi-national companies. Indians are in top management positions and many more dozens of Indians are at mid-level or smaller companies leading them. Global HR Hay Group says that the technical skills and behavioral patterns of Indians make them more adaptable to all situations.
NRI - It Professionals Heading Back to India Due to High growth: Survey
Co mi ng
So on
NEW DELHI (ET): With declining wages abroad, an increasing number of non-resident Indian IT professionals are moving back to their home country, says a survey. IT and IT-enabled firms in India hired 28 percent more nonresident Indian (NRI) professionals
in the first quarter of 2011-12, according to the survey conduced by recruitment consulting firm MyHiringClub.com. Among 11 surveyed industries, IT and IT-enabled services registered highest growth, with 28 percent increase year-on-year in the first quarter of the current fiscal.
It is followed by pharma and healthcare, up by 20 percent, automobile and manufacturing, up by 18 percent, telecom, up by 14 percent, banking and financial services, up by 10 percent and FMCG, up by six percent. ” The high economic growth in India with many good opportunities
has fuelled the NRI thought process to head back. In addition to that, many US companies are opening their offices in India and hiring more to target the growing market in Asia,” Rajesh Kumar, CEO of MyHiringClub.com, said in the survey report. He said an increasing number
of high value NRI professional recruitment is likely to take place in the coming years as wage gaps have declined sharply. “Increasing number of people are now returning because now the advantages of returning back to India outweigh the disadvantages CONTINUED ON PAGE 28
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INDO AMERICAN NEWS • FRIDAY, AuguSt 5, 2011• online edition: WWW.indoAMeRiCAn-neWS.CoM