Mukesh Ambani to Build a Mansion

Mukesh Ambani; the son of the legendary Dhirubhai Ambani of Reliance Industries is building his house in Mumbai – A mansion that that will cost $1 billion and will be 170 meters tall! It will supposedly be managed by a staff of 600 people. The house is being built on a 4,500 square meter plot. The building will have 27 floors and construction is currently under progress. The tower will have parking facility for the first 6 floors. The tower will provide a view of the entire city of Mumbai. It will have 3 helipads an entertainment floor, swimming facilities and a health floor.

Critics are saying that this is an ostentatious display of wealth. Well I think there is nothing wrong in flaunting wealth. Most billionaires do it. Ambani has it and is showing it off! Forbes places Mukesh Ambani with a fortune of $20.1 billion as of March 2007. Of course the richest global Indian is Lakshmi Mittal with a fortune of $32 billion who is the fifth richest in the world.

First Day Welcome in a Software Firm!

Software industry undoubtedly contributes to India's growth more than any other sector of the Indian economy. Year on a year basis the software industry continues to put up a spectacular performance. Despite a slight US slowdown and appreciating Indian rupee software majors like Infosys, Satyam, Wipro and TCS have come out with excellent results. Revenues rise and profits surge. Indian software engineers command amazing salaries in software. Recruiting and retaining skilled software professionals in India is not an easy task for a software company. It is getting costlier and harder for software firms to retain talent. Salaries for top performers have reached dizzying heights. Workers who are sacked from a company usually end up getting better offers. Average salary increases in India are now at around 14 per cent a year, compared with around 8 per cent in China. India’s top software firms plan to add 100,000 new jobs this fiscal year.

In light of the above, now watch this video.

This is a video of the first day in Aditi Technologies a Bangalore software firm. This was the welcome given by the company to the new employees. The CEO, VP, President, Senior Mangers, Board Members are all there welcoming the new staff! Unbelievable! Speaks of the extent to which software firms can go to keep employees happy. The video reminded me of my marriage which was much like this except that there was no elephant. Personally I would be uncomfortable with such a reception and would wonder if I came to the right place on my first day at work! Probably Aditi realizes that it is the employees that make a company. Well, I think it’s a smart move from the software firm.

Aishwarya Rai Wedding: Will It Mar Her Bollywood Career?

Is Aishwarya’s wedding doing great things for her? She seems to have distanced herself from the major men of the silver screen following her much hyped wedding. I wonder with whom Aishwarya will pair on the silver screen in the coming days!

Shahrukh Khan the hot man of bollywood is not likely to pair with her any more considering that he was not invited for her wedding!

Viveik Oberoi cannot of course be considered; he being Aishwarya’s jilted lover.

Salman Khan will be left out for the same reason as Viveik after his doomed relationship with her!

Hrithik Roshan will have trouble after his smooching act in Dhoom2.

Amir Khan and Saif Ali Khan were again uninvited for the wedding; so the duo might have problems.

All the above seem like remote possibilities. Well one real life hero in the form of Abhishek has resulted in the exit of many reel-life heroes! Looks like Abhishek will be her leading man on the silver screen for some time to come.

On another note Ms. Rai is using the “Bachchan” surname and is even signing with the new name and will move in with her in-laws – Aishwarya and Abhishek will live with Big B.

Bangalore Facts - A City Crumbling And Losing it?

I am here in Bangalore (to be renamed Bengaluru very soon) for the past few days and am saddened at the deteriorating state of the city. Bangalore; dubbed the “Garden City” and the “Silicon Capital of India” might lose these tags if its present state is any indication. Home to prestigious colleges and research institutions, the city has the second highest literacy rate among the major cities in the nation. The city also has the highest per capita income in India. Unfortunately the city is beset with major problems such as air pollution, traffic congestion, crime and a host of other problems. My love of the cosmopolitan high tech city is being replaced with despise and disgust.

Just consider these facts:

• The population of the city has risen from 2.8 million in 1990 to 6.5 million today.
• The infrastructure of the city is unable to handle the chaotic growth.
• The vehicular population at 2 million is very high. In 1994 there were just 0.7 million registered vehicles. It is now 3 times more than what it was 10 years ago. Vehicular traffic is growing at an average of 8% annually and the city’s roads are not just geared to handle this.
• The city no longer has the salubrious and nice climate that it once enjoyed. Deforestation, massive increase of automobiles aided by the wrath of global warming are the culprits.
• Corruption, greed, bureaucracy and red tape have only increased. Nothing moves without a bribe in government circles. Lawlessness has reached epidemic levels.
• The pollution levels are mind boggling leading to various health problems.
• The cost of living is very high. It is one of the costliest places to live in India.
• Aided by banks, unscrupulous real estate agents and speculators real estate prices have shot through the roof and I am not sure if the rise is completely justified.

These deteriorating factors can cost Bangalore dearly with its software dominance being challenged. The city no doubt accounts for 35% of the country’s software exports at present but with the way it is going its top spot is likely to be snatched by ambitious neighboring cities like Hyderabad and Chennai where already numerous MNC’s have set up shop. The city; currently home to a host of global software firms is likely to see them disappear

Bangalore desperately needs a high class metro, international airport and excellent road network if it is to compete and retain its position as the desired city in India to live and work. If these are not addressed immediately Bangalore will lose in the race for superiority. Bangalore has not lost it completely but is showing signs of losing it.

Cricket, India and the World Cup!

It's curtains for India on cricket; a sport watched by millions with its shameful loss to Lanka in the world cup. It was disastrous performance by Indians all the way. The match looked like a joke. Although I generally consider the game of cricket as a sport of 11 + 11 + 1 fools (2 teams of 11 each & the one watching it) I wouldn’t want to miss that critical match when India plays. After all I am an Indian; a country of cricket lovers and can’t be cut off from the sport completely!

India’s loss to Sri Lanka can only lower my interest in the game. It was sickening to see our 11 put up such a lackadaisical show. What has happened to the players? What is wrong with the top order batsman? What’s going on with Sachin Tendulkar? He couldn’t be dismissed more easily. I couldn’t believe that he got out trying to defend a ball! He literally threw his wicket away. A normal; regular pitch was what they were batting on.

Cricketers have been made demigods; the huge viewer ship making them so. They make millions but sadly their performance does not justify their fortunes. Cricket is a game of hype, big money, betting, match fixings and a platform for the corporate world to sell its wares. It is the man on the street with his inexplicable love of the sport that has contributed to what the sport is today. The BCCI (Board of Control for Cricket of India) is one of the richest sporting bodies of the world.

Frequent allegations of match fixing has waned my interest in cricket. There is every chance that the big match that you are watching is a “fixed” one. Bob Woolmer’s murder shows the gory nature and complexities the sport involves. As one newspaper reported “cricket is war without bullets”.

With India's defeat I must ask Team India this: Can you guys beat Bermuda?

With India’s ignominious defeat to Bangladesh and abrupt exit from the world cup scene all kinds of jokes are doing the rounds on the World Wide Web. Here is a good joke I received.

Rahul Dravid Got Caught!
After the shameful defeat of Team India, the team members were not able to show their faces to people and they chose not to go in public and rather just pack up in hotel rooms.

Dravid could not resist for too long to be in the hotel room and still not be able to go out shopping. So he disguises himself as an Arab and goes out. He meets a woman at the exit of the hotel who greets him "Hi Dravid!"

Surprised for having been caught he comes back and makes himself up as a muslim woman - in Burkha etc and goes out. Yet the same woman greets him "Hi Dravid!"

Dravid comes back determined to give it yet another try with the make up of a Hippie wig and shorts etc. All in vain, the same lady catches him again and greets him "Hi Dravid!"

Bewildered by now, he could not help asking, "How did you recognize me?"

The lady replied - "I am Sachin!"

Akrit Jaswal - Video of the Genius

This is a nice video of Akrit Jaswal of whom I wrote a post earier. You can read it here

India VS India: Hear Bachchan Recite the Anthem

Amitabh Bachchan - The Living Legend - The Phantom of Indian cinema recites the poem. "India Poised Anthem" is the brainchild of Times of India Group. Watch the video recited by Big B. Also check out the making of the video. It's in both English and Hindi. Read the anthem here and Click here for the video

Trends in India That Will Define 2007

Indian consumers are becoming more demanding. It is becoming a tough task for marketers, in the midst of changing lifestyles, technological upgradations and a transforming retail environment. The job scenario is good and Indians enjoy a higher disposable income.

As we move on to 2007 here are key insights into consumer trends to look out for in 2007 according to a report by the Economic Times, India:

Shopping will get a new face:
2007 will experience a retail explosion. Consumers will continue to be drawn towards shopping at high quality retail environments. The shopping environment will continue to change and many more neighbourhood shops will orient themselves to the self-service format.

Innovation will be Key:
Shoppers will be spoilt by choices. Companies will be under pressure to constantly innovate. Both products and services will have a shorter life cycle and innovation will become the growth engine for every company. Marketers will constantly have to be on their toes to launch newer versions of their products.

Consumers will turn more beauty and fashion conscious
More Indians will begin investing in cosmetic procedures and the use of products with beauty builder technologies which help enhance the beauty of both men and women. Indians will to wants to look and feel good and hence we will see the footfall in gyms, yoga classes increasing. There is also a heavy tilt towards Bollywood and consumers will have surplus cash to follow the latest Bollywood trends.

Consumers will experiment more
With more nuclear families, working women’s demand for processed foods will increase. Various companies are entering the market with ready-to-eat options. Eating out phenomenon will increase and people will try different cuisines. They will get more experimental with food and clothes.

Investment patterns will change
Surplus cash normally goes only to the savings kitty. A lot is changing in this area. There is a boom in the real estate market, new mutual funds are opening up, and there are personal financial planners chasing you. Modern Indians are looking at investments and we see a lot of avenues opening up as well. Consumers will benefit in the coming years with cutting-edge customized financial services on offer.

Number of car owners will increase in 2007
With easy loan options and ever increasing new car brands being launched every month car sales will boom. Indians will now drive their favourite cars almost at the same time as their global counterparts. Maruti, GM and Hyundai among others have an array new launches up their sleeve.

Office-home boundaries will merge

2007 will be the year most consumers across the globe will get serious about their home offices. In the US, waterproof touch-screen computers will be seen. In India too, there’ll be plenty of chatter about harmony in the home as people try to draw a line between work and living spaces.

Some Facts about Bangalore... Did You Know This?

As a person hailing from karnataka any news about Bangalore naturally arouses my curiosity. I came across this and found it interesting...

1. Bangalore has the impeccable record of highest growth in 20 years.(as of 2005)
2. Bangalore has highest number of Pubs in Asia.
3. Bangalore has highest number of cigarette smokers in India.
4. Bangalore has the highest number of software companies in India 242, followed by Hyderabad -178, Pune - 127. Hence called the Silicon Valley of India.
5. Bangalore has 21 engineering colleges, which is highest in the world in any given city.
6. Bangalore University has 57 Engineering Colleges affiliated to it, which is highest in the world.
7. Bangalore is the only city in the world to have commercial and defence airport operating from the same strip.
8. Bangalore was the first city in India to receive electricity.
9. Bangalore has highest number of Public sectors and Government organizations in India.
10. Bangalore University has highest number of students going Abroad for higher studies taking the first place from IIT-Kanpur.
11. Bangalore has only 41% of local population(i.e.Kannadigas). Hence a true cosmopolitan with around 21% Tamilians, 15% Telugites, 11% Keralites, 6% Europeans, 6% a mixture of all races.
12. Bangalore Police has the reputation of being the second best in India after New Delhi Police.
13. Bangalore has the highest density of traffic in India.
14. Bangalore has the highest number of 2-wheelers in the world and also the dubious reputation for the highest 2-wheeler thefts.
15. Bangalore is considered the Fashion Capital of East.
16. Bangalore is rated one of the Cleanest cities in India.
17. Bangalore has produced the maximum International Sports persons in India for all sports ahead of even Mumbai and Delhi.
18. Bangalore has the richest people in India. The line of poverty is the least of all cities of the world.
19. Bangalore's Lalbagh botanical gardens is credited to have one of the most diverse man made collection of flora.
20. Bangalore has produced the highest number of professionals in USA almost 60% of the Indian population abroad is from Bangalore (except Gulf).

You are An Indian When...

Some Humor...Received via email...see how many of these describe you!

1. Everything you eat is savored in garlic, onion and tomatoes.

2. You try and reuse gift wrappers, gift boxes, and of course aluminum foil.

3. You are standing next to the two largest size suitcases at the Airport.

4. You arrive one or two hours late to a party - and think it’s normal.

5. You peel the stamps off letters that the Postal Service missed to mark up.

6. You recycle Wedding Gifts.

7. You name your children in rhythms (example, Sita & Gita, Ram & Shyam)

8. All your children have pet names, which sound nowhere close to their real names.

9. You take Indian snacks anywhere it says “No Food Allowed”

10. You talk for an hour at the front door when leaving someone’s house.

11. You load up the family car with as many people as possible.

12. You use plastic to cover anything new in your house whether it’s the remote control, VCR, carpet or new couch.

13. Your parents tell you not to care what your friends think, but they won’t let you do certain things because of what the other “Uncles and Aunties” will think.

14. You buy and display crockery, which is for special occasions, which never happen.

15. You have a vinyl tablecloth on your kitchen table.

16. You use grocery bags to hold garbage.

17. You keep leftover food in your fridge in as many numbers of bowls as possible.

18. Your kitchen shelf is full of jam jars, varieties of bowls and plastic utensils (got free with some household items).

19. You carry a stash of your own food whenever you travel (and travel means any car ride longer than 15 minutes).

20. You own a rice cooker or a pressure cooker.

21. You fight over who pays the dinner bill.

22. You live with your parents and you are 40 years old.(And they prefer it that way).

23. You don’t use measuring cups when cooking.

24. You never learnt how to stand in a queue.

25. You can only travel if there are 5 persons at least to see you off or receive you whether you are travelling by bus, train aeroplane.

26. You only make long distance calls after 11 p.m.

27. If you don’t live at home, when your parents call, they ask if you’ve eaten, even if it’s midnight.

28. You call an older person you never met before “uncle.”

29. When your parents meet strangers and talk for a few minutes, you discover you’re talking to a distant cousin.

30. Your parents don’t realize phone connections to foreign countries have improved in the last two decades, and still scream at the top of their lungs when making foreign calls.

31. You have bed sheets on your sofas so as to keep them from getting dirty.

32. It is embarrassing if your wedding has less than 600 people.

33. All your Tupperware is stained with food color.

34. You have drinking glasses made of steel.

35. You have mastered the art of bargaining in shopping.

India: Huge Opportunities For Global Firms

The Indian market and its one billion plus population, presents lucrative and diverse opportunities for US exporters with the right products, services, and commitment. In recent times, the declining value of the dollar, vis-à-vis competitors' currencies, is expanding and accelerating these opportunities.

India's infrastructure, transportation, energy, environmental, health care, high-tech , and defense sector requirements for equipment and services will exceed tens of billions of dollars in the mid-term as the Indian economy globalises and expands.

India's GDP, currently growing at around 7 per cent, makes it one of the fastest growing economies in the world. Construction of nearly everything from airports to container ports to teleports is setting the stage to remake India.

GDP: $691 billion

Growth: Estimated 7-8 per cent or higher in 2005-06; 7 per cent in 2004-05.

Breakdown: Services equal 50 per cent of the GDP; industry and agriculture equal 50 per cent.

Ranking: 10th largest economy in the world and one of its fastest growing; fourth largest in purchasing-power parity terms.

Per capita income: $640 in 2004-05, (almost double the figure of two decades ago). Of the 1.1 billion people, 39 per cent live on less than $1 per day.

Purchasing power: In 2005, approximately 170-300 million people had growing purchasing power, thus creating a growing middle-class consumer population.

Youth Power: Over 58 percent of the Indian population is under the age of 20. That is over 564 million people, nearly twice the total population of the United States.

US - India Trade

Total Trade: Total bilateral trade in 2005 was $26.77 billion US. Exports to India in 2005 increased to $7.96 billion, a 30.3 per cent increase from the previous year Imports from India in 2005 totaled $18.81 billion, a 20.8 per cent increase from the previous year.

India at a glance

Population: 1.1 billion (Urban population - 28.4 per cent)

Retail Market Size: $286 billion (only 3.9 per cent is organised retail). Retail trade is booming in the country due to increasing disposable incomes of middle and upper middle class

Growth of Malls: 375 shopping malls by 2007 from 25 in 2003

Estimated space: 90 million sq ft.

Tata in Forbes Top 20 Most Reputed Companies

Eight Indian business houses have made to the Forbes list of world's most reputed companies, with the country's largest corporate conglomerate Tata group sharing space with the top 20 global firms.

Tatas, the largest Indian group in terms of revenues and market capitalisation, has been ranked at the 20th position among the most reputed company list of Forbes.

Maruti Suzuki, Hero Honda Motors, HLL, ITC, SBI, Infosys and M&M have also managed to find place in the top 200 list.

Italian Food and Tobacco major Barilla Holdings has been ranked at the first position, followed by Denmark's consumer products firm Lego Holdings and German airline Lufthansa at the second and third positions.

Among other Indian companies, Maruti has been ranked at 91st position, Hero Honda Motors at 108th, FMCG major HLL at 116th, ITC and 137th, IT major Infosys at 155th and automotive giant Mahindra & Mahindra has been placed at 189th position.

Tata is the only Indian entity in the top 20 of the list of world's 600 largest companies in terms of corporate reputation.

The Tata group has more than over 90 operating companies, with strong international presence in Automobile, steel, IT and services sectors, with total revenue of $24 billion and a market capitalisation of $47 billion.

Tips for NRI's to buy house in India

Most non-resident Indians and persons of Indian origin want to buy a house in India for themselves or for their family. Generally, NRIs/PIOs have a doubt in their mind as to whether they can invest in a residential house property in India by remitting funds from overseas under the current foreign exchange regulations. This article attempts to address those concerns.

Who are NRIs/PIOs?
It is first important to understand how the law defines NRI. NRI refers to an Indian citizen who is residing outside India. PIO here refers to an individual (not being a citizen of select countries such as Pakistan, China and Bangladesh) who at any time held an Indian Passport or whose father or grandfather was a citizen of India.
What can they buy?
They can acquire any immovable property in India other than agricultural land, plantation and farm house. These days a number of options are available to buy houses of international standard with all the facilities such as club house and gymnasium.

Money for that buy
An NRI/PIO may use his own funds to acquire immovable property. He can also avail of a housing loan for this purpose.

Own funds — the NRI’s own funds means money received in India by way of inward remittance from overseas out of income earned overseas or personal savings outside India or funds held in non-resident external (NRE) or non-resident ordinary (NRO) or foreign currency (non-resident) (FCNR) bank account.

Housing loans from banks — Authorised banks have been permitted to provide a housing loan to an NRI/PIO for acquisition of a residential accommodation in India. This is, however, subject to certain conditions. The quantum of loans, margin money and the period of repayment is at par with the housing loans provided to residents in India; the loan amount cannot be credited to the NRE/FCNR account; it has to be fully secured by equitable mortgage of the property proposed to be acquired, and if necessary, also by lien on the NRI’s/PIO’s other assets in India; the installment of loan and interest and other charges has to be paid by the NRI/PIO by remittances from outside India through normal banking channels or out of funds in the NRE/FCNR/NRO account in India. In the last case, the loan and interest can also be repaid out of the rental income of such property.

Rental income
If the property so acquired could not be used for own occupation and is let out, then NRIs/PIOs may earn rental income. The rental income can be credited into the NRO/NRE account.

Transfer of property
The NRIs may transfer such property to a person resident in India or even to another NRI or to a PIO, without any approval from the Reserve Bank of India.

Repatriation of money
The remittance of the sale proceeds depends upon the mode of acquisition — that is whether it was acquired out of the funds remitted from outside or out of rupee funds. A property can be acquired out of rupee funds by the NRI before leaving India or acquired after leaving India but from the savings bank account in an Indian bank out of income earned in India.

Property acquired from overseas remitted funds — Proceeds can be repatriated provided the amount does not exceed either the amount paid for acquiring the immovable property in foreign exchange received from overseas or the amount paid from the FCNR account; or the foreign currency equivalent, of the amount paid from the funds held in NRE account for acquisition of the property.

It is also important to note that in respect of the residential property, NRIs / PIOs can remit sale proceeds outside India for up to two such properties without any RBI approval. Remittance for third and subsequent house property requires RBI’s approval.

Property acquired from rupee funds held in India — the rules relating to this are dependant on the holding period of the property. For a property held for more than 10 years, up to $1 million per calendar year, without any RBI approval, can be repatriated out of the funds held in NRO account in respect of the sale proceeds of immovable property.

If such property is sold after being held for less than 10 years, remittances can be made if the sale proceeds were held for the balance period in the NRO account or other eligible investments. In respect of remittance of sale proceeds of assets acquired by way of inheritance or legacy or settlement no lock-in-period is there. In all other cases, specific approval of the RBI is required.

Remittance through normal banking channels — It is pertinent to note that, wherever specific approval of RBI is not required, the sale proceeds of the house property as well as the rental income may be remitted outside India through normal banking channels, after obtaining an appropriate certificate from a chartered accountant
certifying that applicable taxes have been paid/provided for.

Therefore, NRIs/PIOs can acquire their dream house in India, rent it out, transfer or sell the same, if required. They can also take the rental income and their investment in the house property outside India, subject to the foreign exchange regulations.

Aishwarya Rai...Still India's Most Beautiful

Aishwarya Rai was born in the south Indian state of Karnataka in Mangalore on 1st Nov 1973. She was younger of the two siblings, her brother being 3 yrs elder. When she was about 4 years old her family moved to Bombay permanently. Her father worked as a merchant navy officer. Aishwarya did her schooling at Arya Vidya Mandir, Santacruz. Academically, she did very well and earned her position as the head girl of her school. Ash chose the science stream while at DG Ruparel College, her favorite subject being Zoology. Aishwarya wanted to do medicine, but circumstances didn't let her. Instead she chose Architecture and passed the interview at Raheja College with flying colors. By this time, Aishwarya had started getting modelling assignments. She then decided to take a break from architecture and concentrate on modelling. From that point there was no looking back. Ash became a household name with the pepsi ad campaign. She was crowned Miss Femina World and went on to win the Miss world title at Sun City in 1994. Ash had now joined the Bollywood film industry and working under many prestigious banners.

Her film debut in Mani Rathnam’s ‘Iruvar’ (1997) received critical acclaim and her performance in Rahul Rawail’s ‘…Aur Paar Ho Gaya’ (1997) garnered her the Best Female Debutante Award. In 2000 she was awarded Best Actress by FilmFare and Zee Cine for her work in Sanjay Leela Bhansali’s “Hum Dil De Chuke Sanam”, in that same year, nominated for Best SUPPORTING Actress for her special appearance in Aditya Chopra’s MOHABBATEIN. In 2001 Ash was nominated for FilmFare’s Best Actress Award for Satish Kaushik’s “Hamara Dil Aapke Paas Hai”.

Ash’s star continued to rise in 2002 working again with Sajay Leela Bhansali in ‘Devdas’. ‘Devdas’ is the most ambitious and most successful film in Bollywood history. It became the first Bollywood picture to ever receive a special screening at this year’s Cannes Film Festival and broke box-office records in India and the United States. Daily Variety’s (06/12/02) Derek Elley describes ‘Devdas’ as “…some of the most sumptuous production values in Bollywood history…” Elley describes Ash as “almost Audrey Hepburn-like”, Moulin Rouge director Baz Luhrmann says “I loved her in Devdas” and Julia Roberts calls her “the world’s most beautiful woman”.

Some of her new films to be released in 2007:

# Singularity (2006/I) (in production)

# Bhopal Movie (2007) (in production)

# Chaos (2007) (in production)

# The Rebel (2007) (announced)

# Sarkar 2 (2007) (pre-production)

# Jodha-Akbar (2007) (filming)

# The Heart of India (2006) (filming)

# Guru (2006/I) (post-production)

# Dhoom 2 (2006) (post-production)

# The Last Legion (2007) (completed)