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FEB. 25, 2007
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Trading with ASEAN
In the recent Indo-ASEAN summit, ASEAN was, for the first time, on the defensive. India has agreed to bring down its negative list of imports to 490 items in the free trade agreement with the 10 ASEAN nations. But India’s step towards free trade was not matched by the ASEAN nations, as more than 1,000 items still figure in the negative list of the ASEAN. In 2005-06, India’s total trade with ASEAN was at $22 billion (Rs 99,000 crore), against just $7 billion (Rs 31,500 crore) in 2000-01.


Exchange Deal
Indian markets are on a roll. Global stock exchanges and financial institutions’ interest in the Indian stock exchanges goes to show the long-term growth potential of India Inc. The year has started on a positive note. The NYSE and three global financial institutions have each picked up a 5 per cent stake in the NSE. The deal will open exciting vistas in global co-operation for the NSE, and at the same time could improve the fortune of smaller exchanges in the country.
More Net Specials
Business Today,  February 11, 2007
 
 
A Hands-off Business Leader
 
NAME: ANALJIT SINGH
AGE: 52
DESIGNATION: CMD
STATE: Max India
Analjit Singh is in the news again, this time over his decision to step back from the day-to-day running of his flagship. "Max India requires 24x7 attention as it scales up to the next level; and it will not be possible for me to devote so much time to it any more," he says. So, he has set up a two-member leadership team that will, henceforth, run the company.

Singh has also been in news recently for trying to work out an alliance between Vodafone and the Ruias of Essar that will enable the combine to take over Hutchison Essar in which he owns a stake of 7.58 per cent. Incidentally, Singh had founded the company in 1995 and exited Hutchison Max, as it was then called, in 1998 when he sold his 41 per cent stake in the company to his joint venture partner Hutchison Whampoa of Hong Kong for Rs 561 crore.

He has other successes to his credit as well. An MBA from the Graduate School of Management, Boston University, Singh founded Max India in 1984 and has, since, built it into a Rs 2,000-crore conglomerate with interests in life insurance, healthcare, information technology, bulk drugs, specialty plastic products, electronic components and chemicals. Within this, his greatest triumph has been Max Healthcare, which runs a chain of super-specialty medical service centres and hospitals across the National Capital Region (NCR). And in doing so, he turned conventional business wisdom on its head. Traditionally, large healthcare service providers have opened hubs first and then established clinics and centres around them. Singh did it the other way around. This was primarily driven by the unavailability of large tracts of land around Delhi, but it proved successful, and by the time Max was ready to build a large hospital in 2001, it had already established a strong brand equity. What's his management style like? Max executives say he was very hands-on earlier, but now prefers to delegate authority to a band of handpicked executives.

And what's his vision for the future? To see Max as one of India's top healthcare service providers. The grand plan is already in place; now for the execution.

 

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