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India’s two leading conglomerates, Tatas and Reliance have recorded their names in the world’s top 25 innovative companies. Tata at rank six has provided the cheapest Nano car while Mukesh Ambani’s Reliance scored position 19th has established aggressive growth plans.

It is first time that the two companies has entered the list of top 25 topped by Apple Computer, the maker of iPod music players and Mac personal computers. Internet search giant Google is at position two followed by Japanese auto major Toyota, industrial conglomerate General Electric (GE) and software behemoth Microsoft in the top five.

The list, published in the April 28 edition of Business Week magazine that hit the newsstands today, has been compiled by the US financial publication in collaboration with Boston Consulting Group.

Business Week said about Tata Group, “Mumbai-based conglomerate jumps onto our list for the first time, fuelled by its paradigm-busting 2,500 dollar ‘Nano’ car for the masses”.

“The car, from its Tata Motors unit, is the world’s cheapest, thanks partly to a distribution model that sells the auto in kits to entrepreneurs who assemble them for buyers.”

About RIL, it noted that “the Indian petrochemicals giant made it onto our list this year thanks to fans of its aggressive growth.

“But its ambitious plans to reach into grocery retailing, which is dominated in India by small shopkeepers who have rebelled against corporate entrants, have faltered,” it added.

Tags: Ambani, India, ipod, Nano, Reliance, RIL, Tata

The Indian Institute of Management, Bangalore (IIM-B) has announced an increase in its fees from Rs 2.5 lakh to Rs 4 lakh for the year 2008-09. The decision was taken on Tuesday in the meeting of the Board presided by its chairman Mukesh D Ambani.

“We have decided to hike the fee from Rs 2.5 lakh to Rs 4 lakh for 2008-09,” IIM-B director, Pankaj Chandra said after the meeting.

Comparitive to other three IIMs, hike in Bangalore IIM is higher. Chandra said the increasing infrastructure as one of the reasons for the hike. The students who would be going into the second year (2009-10) will now have to pay Rs 5 lakh as fee.

IIM-B officials told that group discussions and personal interviews are already on for the selection process of the incoming batch. It will be completed on April 4 and the list will be displayed on April 11.

Meanwhile, for the first time in the history of IIM-B, the whole PGP (Post Graduate Program) batch, comprising 250 students, have contributed their caution deposit of Rs 9,000 each to “CLASS of 2008 Fund”. This fund will be used for infrastructure development of the college and will be contributed towards the social service organisation “IIMB-VIKASANA”.

Chandra also told that the scholarship amount is also increased from Rs 91 lakh to Rs 1.5 crore for the current session, however the criteria is not yet decided.

Tags: Ambani, Bangalore, IIM, IIM-B, Management

Four Indians including Ambani brothers and steel tycoon Laxmi Mittal have made their place in the top ten richest people of the world as stated by Forbes. Till last year it was only Laxmi Mittal who was placed there in the list.

American investor Warren Buffett is on the top of the list followed by Mexican tycoon Carlos Slim Helu and software king Bill Gates on second and third positions respectively.

India has retained its position as the top source of billionaires in Asia with total 53 people, who have a cumulative net worth of 340.9 billion dollars on Forbes ‘ 2008 World’s Billionaires list consisting of 1,125 people with a combined wealth of 4.4 trillion dollars. A year ago, there were just 179 billionaires, Forbes said.

With a net worth of 62 billion dollars, Lakshmi Mittal with wealth of 45 billion dollars under his name is at 4th rank followed by the Ambani brothers. Mukesh and Anil are at 5th and 6th position with a total wealth of amount worth 43 and 42 billion dollar respectively. The younger Ambani brother, Anil has also emerged as biggest wealth creator soaring by 23.8 dollars since the last list. Mukesh is second biggest gainer with difference of single dollar from Anil.

Besides, DLF’s K P Singh (30 billion dollars) has been ranked, after Sweden’s Ingvar Kamprad (31 billion dollars).

Other two in the top 10 are Russia’s Oleg Deripaska (28 billion dollars) and Germany’s Karl Albrecht (27 billion dollars).

Tags: Ambani, DLF, India, Mittal