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JANUARY 14, 2007
 Letter From
Editor-in-Chief
 Message From
The Prime Minister
 Editor's Letter
 Retrospect
 Economy
 Business
 The Great Indian
M iddle Class
 India'S Poor
 The Next 15 Years

Flying High
 The Indian aviation industry is growing at a rapid pace, thanks to air transport deregulation, emergence of new operators, lower fares and large untapped demand for air travel. The numbers tell an interesting story: India will require an estimated 1,100 aircraft. The average annual passenger traffic growth in India through 2025 is estimated at 7.7 per cent, well above the world average of 4.8 per cent and China's 7.2 per cent.

Bars Of Gold
 The global gold industry is flourishing, largely fuelled by Asian demand and a weak US dollar. The boom is probably only halfway through since prices bottomed out in 2000. Since 1800, the boom and bust cycles have averaged about 10 years. While production is down, the value of gold purchased today is up 47 per cent from a year ago. The super-cycle of high metal prices is seen to be spurred largely by demand from China and India. An analysis.
More Net Specials
Business Today, December 31, 2006
 
BUSINESS TODAY SPECIAL 15TH ANNIVERSARY ISSUE
 
THE YEAR IN RETROSPECT
Words Of Wisdom

They all had something to say...global CEOs flying in, their Indian counterparts going overseas (and a few went overboard as well)
 
"Our objective is to be a market leader in each
of the businesses we are in. We are already the
market leader amongst private sector companies
and I think it's now a question of becoming the
market leader overall"
K.V. Kamath, Managing Director and
CEO, ICICI Bank

"Future is not about pedigree, it is not about financial strength, future is not about heritage. Future is about innovation and how nimble you are. The future is all about how open-minded you are to learn from people"
N.R. Narayana Murthy, Non-Executive Chairman and
Chief Mentor,
Infosys Technologies

"What we are trying to do is connect all of our capabilities--from our most advanced skills that exist today in innovation, invention and all the work we do in our research and all our other problem. India represents our ability to connect these two dimensions."
Sam Palmisano, Chairman and CEO, IBM

"We are very eager. We see a country, a terrific country, that offers us so much opportunity. A growing middle class, a growing consumer attitude ... the retail base today is already growing. There are many stores, many formats. We landed and immediately I went out to visit retailing, and we saw some interesting retail formats already developing and we saw a lot of customers that need a store like Wal-Mart "
Michael Duke, Vice Chairman, Wal-Mart

"I believe reservations are not likely to achieve the objectives for which they are being demanded"
Rahul Bajaj, Chairman, Bajaj Auto

 

"User-generated communities will
be the next big thing"
David Filo, Co-founder, Yahoo

 

"With deals getting shorter, smaller and split, I see plenty of upside for Indian (IT) vendors. The addressable market could be $60 billion by 2009-10"
S. Ramadorai, CEO, Tata Consultancy Services

"India has moved
from being a small
car to being a Ferrari"
Andrew Holland, Merrill Lynch's
Head of Research in India

"It was like a boxing match. We thought we were knocked out and then we won it (the Arcelor deal) in the 12th round"
L.N. Mittal, Chairman, Mittal Steel