Six Decades On, Japan Sees India As a Key Partner in Asia

10 The Japan Times Tuesday, October 2, 2012 Special Economic Reports 第３種郵便物認可

World Eye Reports India 60th Anniversary of IndiaDiplomatic Relations between India and Japan in 2012 www.worldeyereports.com Six decades on, Japan sees India as a key partner in Asia India’s financial leader n 2012’s bearish global econ- the country to explore and turn to omy, it’s almost unusual to other means of business and rev- turns its focus to Asia Isee a country doing relatively enue generation.” well, with a bright outlook on the One key growth factor is a ithin the dynamic In- ing partner and we continue to be future. India’s continuing growth domestic market that is almost dian banking landscape, affected by events taking place at a time like this and huge market unimaginably huge and contin- WState Bank of India across the euro-zone. There is makes it stand out even more on ues to expand. In fact there are (SBI) has successfully balanced its a slowdown. India as a country the world stage. In a few decades projections that India’s current legacy with a continuing drive to needs a great deal of further in- it has gone from a lumbering, if population of 1.2 billion people innovate. Since its establishment vestment to continue moving in giant, economic backwater to to- will overtake world No. 1 China’s in 1806, SBI has grown side-by- the right direction.” within 20 years. India’s millions side with the country to become Shifting its focus from Europe, also provide a relatively low-cost India’s largest commercial bank in SBI’s intra-Asian trade is continu- yet talented and driven workforce. terms of profits, assets, branches ing to grow. The bank is commit- Half of the population is in the and employees. The bank current- ted to facilitating business devel- 20s, and the ranks of the middle ly has a 17 percent market share opments throughout the region. In class continue to swell. in India and is planning further addition to the bank’s subsidiary Indian companies such as the growth both in the domestic mar- in Indonesia, its Asian branches tire giant MRF have the home- ket and abroad. include offices in Hong Kong, town advantage of this market at Having joined SBI in 1974, He- Shanghai and Singapore. A new their doorstep — which provides mant Contractor, its managing di- office in Tianjin, China, will be a strong foundation for making SBI rector and group executive (for in- opening shortly. the leap abroad. “Even though we The focus on sustainable growth is changing India’s landscape: State Bank of India (SBI) has installed wind power generators with capacity for 15 MW in ternational banking), is still driven In Japan SBI has offices in To-

WER three states for India’s energy needs, while the bank is also the world’s largest operator of solar-powered ATMs. now have a global footprint, our to build on the foundations of the kyo and Osaka, and has developed Akitaka Saiki, Japanese Ambassa- largest market is still India,” says dor to India all those tires that need replacing.” makes India ideal for investment.” progress in recent years in forging bank. a strong relationship with JBIC Koshy K. Varghese, executive vice However, to make this growth “Japanese investment into In- closer business ties. “We have be- “SBI has come a long way since (Japan Bank for International Co- day’s focus of economic expan- president of the company. sustainable in the long run, much dia will be continuous,” predicts gun strengthening our trade part- our early days,” he says. “We have operation). The Japanese are in- sion and smart choice for direct “India alone produces about more development and invest- Naoyoshi Noguchi, director gener- nerships through specific policies created a highly respected institu- vesting heavily in India, and as foreign investment. 400,000 vehicles a month and ment is needed. In this respect, on al of JETRO New Delhi. “It is not such as the comprehensive eco- tion both in India and throughout the dominant bank in the country, Of course, India has not been is home to 40 million,” explains the historic 60th anniversary of only a production base country but nomic partnership agreement or the international banking world. SBI is usually the first port-of-call spared the effects of the global MRF’s chairman and managing di- diplomatic relations between the also a gateway to the West.” CEPA, which has notably increased The liberalization of the Indian for Japanese investors undertaking economic crisis. Last year’s dou- rector K. M. Mammen. “Think of two countries, Japan is perceived Both countries have made great trade by 10 percent since it came economy in 1991 brought with it a large projects in the country. ble-digit growth has dropped to a as a reliably strong partner and into force last year,” Saiki adds. new competitive While the pace more modest (if still remarkable in supporter for India’s initiatives to “Meanwhile, the Japan-India environment and of development these times) level of about 6 per- reach developed country status. Social Security Agreement has we recognized needs to be in-

cent this year. Business remains “There has been a long history helped promote the movement of JETRO New Delhi there was a need creased in India, generally positive about the situ- of friendly ties between India and talent between our economies by Naoyoshi Noguchi, Director Gen- for change. there are signs ation. Japan, but it is only relatively easing the burden of labor insur- eral, JETRO New Delhi “While we that the country “There is a growth trend in In- recently I think that Japanese in- ance for both Indian and Japa- had significant is on the right dia regardless of world condi- vestors have finally come to re- nese citizens working in either Freight Corridor), built with Japa- legacy systems in track in terms tions,” explains the interim CEO alize that India has even greater country,” he explains further. “We nese assistance to connect Kolka- place, we gradu- of focusing on of BSE (formerly the Bombay potential for the future,” says the are also looking to eliminate tar- ta, Delhi and Mumbai in a bid to ally shifted to a its future and Stock Exchange), Ashishkumar Japanese ambassador to India, iffs between our two countries by improve India’s infrastructure — fully automated attracting in- Chauhan. “We are growing be- Akitaka Saiki. “Countries like In- up to 94 percent in the next 10 so crucial to the entry of further accounting and vestment. “The BCCI cause ours is a consumption- dia with young populations have JETRO Mumbai years.” direct investment from Japan and banking system advantages of in- driven economy. India is being Atindra Sen, Director General, Bombay a positive outlook because their Naoyuki Maekawa, Senior Coordi- Noguchi points to the devel- elsewhere. spanning our en- WER vesting in India Hemant Contractor, Managing challenged, and this is pushing Chamber of Commerce and Industry nator for South Asia, JETRO markets will only expand, so this opment of the DFC (Dedicated CONTINUED ON PAGE 12 tire network,” Director and Group Executive for are numerous,” Contractor con- International Banking, SBI says Contrac- tinues. “We also tor. “We have invest in our people. Today we a growing consumer market and Engineering have four large specialized apex a skilled workforce that speaks training institutes and more than 50 English. We are a democracy with learning centers across the country. systems and institutions in place creativity from India Training, retraining and empower- similar to those in the U.K. and ing our people have been key to the U.S.” ensuring we retain our leading po- As SBI continues to facilitate — for the world sition as we look to the future.” project financing initiatives and Today, SBI’s 14,400 branch- provide clients with the ongoing es are all connected on a real- support required to successfully do ata Elxsi is a leading time network system linking its business in India, Contractor con- design and technology 215,000 staff with domestic and tinues to focus on the future. Tservices company and international clients. “We intend to work closely with part of the $100 billion Tata Current unease in international our existing and potential part- group. financial markets is also evident ners and offer our guidance and It is unique in focusing on in India’s domestic banking and expertise,” he concludes. “We product design and system financial services sectors. “India have developed an active project development — including has not been immune to the recent financing role, and remain com- hardware, software, user in- global economic turbulence,” ex- mitted to the country’s continuing terface and mechanical de- plains Contractor. “We saw a year development. As India welcomes sign. of decline in 2009. Indian banks more foreign investors, SBI will Tata Elxsi has been associ- were affected, but the Indian econ- continue to work closely with cli- ated with Japan right from its omy bounced back again in 2010.” ents who recognize the advantages start in 1989, when it began “Since then we have seen the of partnering with us and who see working for leading Japanese challenges being faced by coun- the potential offered by the vigor- companies in embedded software development: a new area for off-shor- tries in Europe,” he says. “As a ous Indian economy.” ◆ ing and India at that time. bloc, Europe is our largest trad- www.sbi.co.in It set up its first office in Japan in 1997 with a team of Japanese and Indian engineers. This has grown over the last 15 years to serve customers today from the automotive, broadcast, consumer electronics, health care and communications sectors. Tata Elxsi now offers flexible engagement models including ODC (offshore development centers) in India and teams that can be deployed onsite or in near-shore centers located closer to Japan, such as Thailand, Malaysia and Singapore. This allows it to enhance the global competi- tiveness of these customers by combining location flexibility with significant reduction in costs. It also uses its global experience and multi-disciplinary innovation capabilities to help Japanese customers expand into global markets.

In the automotive sector, it focuses on ECU (electronic control units) SBI software development, turnkey system development and testing for areas SBI, India’s single largest lender, is a major contributor to the country’s such as body, chassis, safety, advanced driver assistance, hybrid vehicles continuing industrialization. and in-car infotainment. It now works with globally renowned companies such as Honda Motor and Fuji Heavy Industries, as well as leading Eye on India suppliers such as AISIN comCruise and Calsonic Kansei in Japan. It delivers product engineering for set-top boxes, gateways and smart • Tata Elxsi is a design company that blends technology, creativity and TVs and also develops innovative applications and services for broad- engineering to help customers transform ideas into world-class projects and cast service providers. solutions. A part of the $100 billion Tata group, it works with leading Japanese As one of the world’s leading suppliers of LTE and WiMAX software, companies in the automotive, consumer electronics, communications, health it helps telecom product companies develop base stations and femtocells care and broadcast sectors. www.tataelxsi.com using its intellectual property in LTE and WiMAX and custom engineer- • The Bombay Chamber of Commerce and Industry was established ing services. in 1836 to encourage and promote amity and cooperation in industry Tata Elxsi works with leading consumer electronics companies for and trade on subjects involving common interests, maintain and provide offshore development of products such as cameras, projectors, printers, information and data on matters of general, commercial and industrial smartphones, tablets and other connected devices. interest, help redress grievances affecting industrial and commercial interests It has customized its internal processes and systems to suit Japanese and arbitrate disputes arising out of commercial transactions. It is India’s work culture and requirements, and employs many Japanese staff in oldest chamber of commerce, and currently has about 4,200 members from Japan and India, as well as encourages its engineers in India to also learn all sectors of the economy, including a large number of SME companies. Japanese. www.bombaychamber.com With India becoming an important and strategic market, many Japa- nese customers are also using Tata Elxsi’s deep understanding of Indian • Established in 1875, BSE (formerly known as the Bombay Stock Exchange) consumer needs and market requirements to develop custom products was Asia’s first stock exchange and is now one of India’s leading exchange for India and other emerging markets. groups. Over the past 137 years, BSE has facilitated the growth of the Indian “Along with cost reduction, quality and schedule are very important corporate sector by providing it with an efficient capital-raising platform. for Japanese customers,” says Madhukar Dev, managing director and www.bseindia.com CEO of Tata Elxsi. “Open communication, flexibility and mutual prob- lem solving is the key to long-term relationships.” On this basis, Tata Elxsi’s relationship with Japan is simply set to grow even stronger in the years to come. ◆ www.tataelxsi.com • With 10 years of experience in India, Chola MS General Insurance is the fastest-growing general insurance company in the country. It offers policies including health, car, home and travel insurance. It aims to continue This report was produced in Delhi, Mumbai, Bangalore, Chennai and Pune by World Eye Reports. to bring peace of mind to clients by protecting them from financial risk. If you would like further information on any of the companies and organizations featured here, please email us at [email protected]. www.cholainsurance.com

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12 The Japan Times Tuesday, October 2, 2012 Special Economic Reports 第３種郵便物認可

India www.worldeyereports.com Opportunities open up for Global player with its feet planted firmly in India infrastructure development stablished in 1969, Essar have invested about $15 billion tion and asset utilization, which sar’s collaboration with Japan. watts of installed capacity across ith a steady GDP is one of today’s leading in creating world-class assets,” will result in significant volume The company has already estab- India. growth rate and a global conglomerates, ac- he continues. “During this period, growth with resultant margin lished a successful partnership The group is also strong in the young, skilled demog- E our revenues have grown from growth,” Ruia predicts. with Kobe Steel. Through ongo- infrastructure sector and handles W tive in the steel, energy, infra- raphy, India is being considered structure and service sectors. $5 billion to $27 billion annual- Group company Essar Steel is ing cooperation and technology large engineering, procurement more and more not just as a center Over the years, it has grown in- ly. And now with our new capa- a fully integrated global producer transfers, Essar is continuing to and construction projects. Es- for outsourcing but also as an international while maintaining a bilities coming online, we see at of steel with a production capac- develop its steel business. sar Ports is one of the largest valuable base of operations. Home firm focus on core sectors of the least 30 percent growth in our ity of 14 million tons per annum. “We are very happy with our owners and operators of ports in to over 1.2 billion people, India Indian economy. revenue numbers in the next few It has an important presence in partnership with Kobe Steel,” he India, while Essar Projects is the is a robust market for companies Strategic overseas acquisitions years. key markets of Europe, Africa, says. “We are looking to build second largest engineering, pro- who are looking to recover from over the last decade have solidi- “In the next two to three years, North America and Asia. on this relationship and further curement and construction com- the backlash of lagging western fied its reputation as an interna- our focus will be on consolida- Ruia is keen to increase Es- develop our steel business in line pany in India. markets. with our Japanese partners.” “There are key sectors within

WER tional partner of choice. Essar India is a young market. Al- Hisashi Osone, Managing Director, continues to explore and strength- Another member of the con- the Indian economy, such as in- though there are dominant players glomerate, Essar Energy, is a frastructure and automotive, in Toyo Engineering India en its presence in emerging global Essar Group world-class, low-cost, integrated which the Japanese have played locally, the door is still open for markets. Prashant Ruia, Group Chief Execu- international companies to enter of fertilizers and petrochemical “The strong growth in the In- energy company listed on the a pioneering role,” comments tive, Essar Group and capitalize on the country’s refineries, we have diversified our dian economy and our global London Stock Exchange. It is Ruia. “We want to encourage our growth. The key lies in under- expertise into the field of infra- drive to succeed has enabled Es- capitalizing on India’s growing Japanese friends to play an even While India continues to suc- standing that India is an entirely structure and project management. sar to achieve a great deal in re- energy demands with assets worth greater role in India. cessfully attract foreign invest- different and unique market from We have seen the great need and cent years,” says Prashant Ruia, $12 billion across the oil and gas “The relationship between India ment and develop its economy, others worldwide. opportunity in these sectors and I the group’s chief executive. “We and power sectors. and Japan is a special one, which Essar is building on its reputation Hisashi Osone, managing direc- think more Japanese should also were an early mover in key do- Essar Energy has a global re- has been continually nurtured over as an India-focused worldwide tor of Toyo Engineering India and explore this industry.” mestic industries, and we have fining capacity of over 750,000 the years,” he adds. “Business group that has always been pow- a 26-year veteran of the Indian “India is a country where you built a strong foundation. We in- barrels per stream-day, with re- opportunities between our two ered by the drive to move beyond

market, expounds on this point of cannot be in a ‘waiting position’,” tend to move the group forward Essar fineries in India, the U.K. and countries are significant, and Ja- Indian frontiers and find success view in a Japanese context: “In- he adds. “We have been very suc- from this sturdy base. Essar’s 10 MTPA (million tons per annum) steel complex at Hazira in Kenya. Essar Power, an Essar En- pan can benefit from building on on a global scale. ◆ dia is a brilliant country to invest cessful in servicing both public “Over the last four years, we Gujarat Province ergy subsidiary, has 2,200 mega- this partnership.” www.essar.com in for the Japanese. But before and private sector initiatives be- making that critical decision, one cause both our Japanese and Indi- must have the following mindset: an engineers have always contin- chemical products in India. PI In- ‘Indians cannot be Japanese, and ued to adapt – capitalizing on each dustries can also help in the pro- the Japanese cannot be Indian.’ others’ strengths and abilities. We The right partner for a surging India cess of contract research and the It would be difficult to survive in are aiming to bring the ideal syn- manufacturing of newly discov- the Indian market operating from ergy of Japanese technology and rom 2011 to 2012, India’s still bases its R&D) and now has sis, scaling up to manufacturing agricultural input products in India ered components for use in India a Japanese point-of-view alone. management practices with Indian agricultural sector grew by its corporate office in Gurgaon and then marketing and distribu- through our strong relationships and abroad. Critical to success in India is the expertise and ingenuity.” 12 percent, now making up outside New Delhi, celebrated tion, it acts as a one-stop shop for with global innovators.” “What are the Japanese com- bilateral exchange of ideas and One of the company’s key ad- F panies looking for?” he muses. slightly less than a fifth of India’s its 65th anniversary. Today, it is its clients. With a strong product He is especially proud of how practices between Japanese and vantages is its familiarity with the total GDP. At the same time, over “in the right industry at the right pipeline and the ability to leverage the company has grown over the “They want access to the fast Indian employees.” Indian market, which also makes 65 percent of India’s total work- time,” says Salil Singhal, its chair- on its strong rural reach and brand years with a reputation centered growing Indian market, cost-ef- India today is still lagging in it an ideal partner for Japanese force is still involved in agricul- man and managing director. strength in India, PI Industries is on trust. The company has a well- ficient manufacturing, a shorter certain areas, especially infrastruc- companies looking to join the fray. ture. This gap presents tremendous PI Industries primarily focuses an ideal partner for global com- known name in the industry for time cycle from lab to market and ture. Executives such as Osone “We embody the goal of the potential for further growth in the on the marketing and distribution panies looking to enter the robust protecting, respecting and honor- — finally — security for their in- understand that there has to be a Toyo Group: being a global coming years, as India’s popula- of agricultural inputs in India on Indian market. ing intellectual property rights tellectual property. This is what robust increase in infrastructure organization,” Osone concludes. tion of 1.2 billion continues to ex- one side and the chemical process “We have a unique business and fulfilling client commitments PI Industries offers through its development in order for India to “Our globalized mindset has made pand and rival that of the globe’s research and custom manufac- model,” says Singhal. “PI uses its – aspects that Singhal believes are unique business model.” accelerate its growth in the global it easier for us to perceive the most populous country, China. turing of newly discovered mol- strengths in process development critical when doing business with As the country’s agricultural marketplace. needs of the Indian market and One Indian company at the ecules for global innovators on the and plant engineering, together international innovators. PI Industries sector expands with its gigantic “India’s infrastructure is critical tailor-fit our solutions. I believe leading edge of its farming econ- other. It works through the entire with excellent manufacturing ca- Today, the company already Salil Singhal, Chairman and Manag- and still-growing market, Indian to its growth as it becomes more that more Japanese should also omy through plant protection and value chain for the process research pabilities, to benefit our global has a substantial presence in Ja- ing Director, PI Industries companies such as PI Industries global,” he explains. “So that’s develop this idealism especially in nutrient products and other agri- and manufacturing of agro-chemi- clients. When we talk about ag- pan, servicing some of its most offer the best opportunities to Jap- why, although Toyo India is an today’s globalized market.” ◆ cultural chemicals is PI Industries. cals, pharmaceutical intermediates, ricultural prosperity in India, PI well-known agrochemical, phar- ing to further strengthen business anese companies in the 21st cen- engineering specialist in the field www.toyoindia.com Earlier this year the company, electronics and imaging chemicals Industries emerges as one of the maceutical and fine-chemical cooperation with Japanese compa- tury powerhouse economy that is which was founded in the lake city and other niche fine chemicals. companies on the forefront mainly companies. Singhal, however, sees nies in the area of marketing and India. ◆ of Udaipur, Rajasthan (where it From chemical process synthe- because of our ability to use novel room for more growth. He is look- distribution of their agricultural www.piindustries.com Ten years of trust, transparency and technology Six decades on, Japan sees India as a key partner in Asia CONTINUED FROM PAGE 10 holamandalam MS Gen- Award 2012 by Fintelekt. In fact, India today is more open to partnerships from abroad. “For eral Insurance is a joint Recently, the company received the first time we are making ourselves available to foreign retail par- Cventure between the Muru- the award for Best Insurance Com- ticipants,” says Chauhan. “We think that this is a great way to empower pany for On-time Claims Settle-

Toyo Engineering India gappa Group in India and Mitsui further growth, as doing so will also create about 300 million new jobs.” Toyo India’s Mumbai office integrates the best of Japanese and Indian engineering talent. Sumitomo Insurance – part of ment for the Year 2011-12 in the “When you bring together Japanese technological capabilities with In- MS&AD, the largest insurance Rashtriya Swasthya Bima Yojana dia’s knowledgeable workforce you have the perfect combination,” says group in Japan. Chola MS offers a scheme of India’s Ministry of La- Atindra Sen, director general of the Bombay Chamber of Commerce and The most important component in business is trust wide range of insurance products bor and Employment. Chola MS Industry. “Six decades of India-Japan relations have passed, and despite CONTINUED FROM PAGE 11 that include accident, engineering, was also awarded the Financial In- global fluctuations our two countries have always remained friendly and “MRF’s initial success was greatly linked to the development of the health, liability, marine, motor, sights Innovation Award in the re- neutral.” Indian economy,” says Mammen. “The opening-up of the Indian econ- property, travel and rural insur- cently concluded Asian Insurance “After 60 years we look ahead to our 100th anniversary,” comments omy in the early 1990s led to huge opportunities for Indian companies.” ance for individuals and corpora- Congress held in Singapore. JETRO’s senior coordinator for South Asia (and former JETRO Mumbai In India, the company is positioning itself as the partner of choice for tions. Elaborating on future plans, director), Naoyuki Maekawa. “At that time the political or economic international automotive players active in the local market. The company, headquartered S.S. Gopala Rathnam, managing situations may be very different, but we can be sure we can rely on our “Honoring our commitments is part of our value system at MRF,” says in Chennai, has 93 branches and director of Chola MS, says: “We long-lasting relationship — it will definitely remain strong until then and Mammen. “The most important component of our strategy is trust, in or- over 6,000 agents across India. will expand our retail health port- far beyond.” It achieved a GWP (gross writ- folio from $9 million last year to For now, Indian–Japanese business ties are robust and growing stron- der to create a vision of shared business prosperity. There is a great deal WER $90 million over the next year. of synergy to be found in Japanese-Indian relations; we both have the ten premium) mark of about $240 S.S. Gopala Rathnam, Managing Director, Chola MS General Insurance ger. “We work with all the Japanese, you name it — Yamaha, Suzuki, same values in terms of our commitment to one another.” million in 2011 and 2012. Chola The company is also aiming to Honda — we are the main suppliers,” says MRF’s Mammen. Partner- Major Japanese companies with significant investments in India such MS now ranks among the top throughout the year. India. Its associate — Chola MS increase its share in the property ships such as these should become more common than ever as the new as Honda, Yamaha and Suzuki are supplied by MRF. Driven by technol- seven private general insurers in Over the past 10 years Chola Risk Services — offers unique business. decade matures. ogy and product innovation, MRF produces tires of the highest standard India, with a market share of 2.3 MS has grown at an average com- risk engineering solutions across “We will aim for a gross written “This should not just be the year that India and Japan look back on six based on a design process that starts with input from individual custom- percent. pound annual growth rate of over various industry domains. premiums figure of $442 million decades of progress,” says Japan’s ambassador. “Both countries should ers compiled by marketing initiatives, while automotive manufacturing Chola MS celebrates its 10th 65 percent. It has grown to be- The company champions a and market leadership in profitabil- also look ahead for opportunities to cooperate in any field. clients provide vehicle-specific requirements. anniversary this year, having com- come a niche player in the retail brand philosophy of “T3” – trust, ity by 2014-15. Chola MS aims to “We look at each other as important partners,” Saiki concludes. “Ja- MRF’s contribution to India includes investments in the country’s menced operations in October segment, offering value-based transparency and technology. It achieve a market share of around pan and India — both strong democracies and the second and the third most popular sport: cricket. The MRF Pace Foundation is celebrating its 2002. As part of its ongoing 10th products to its customers. It is also has received numerous awards 3.5 percent and be among India’s largest economies in Asia — have a common responsibility to promote 25th year this year and was established to select, nurture and scientifi- year celebrations it has organized the insurer of choice for leading and accolades: noteworthy among top 5 insurers by 2014-15.” ◆ growth and prosperity in each other’s countries and in the region as a cally develop the cricketing skills of local and international youngsters various customer events in India Japanese and Korean ventures in them the Innovation Leader www.cholainsurance.com whole.” ◆ with promise. MRF’s dedication to sport also includes rally car and For- mula One racing. As MRF builds on its current position as India’s leading tire maker, Insurance — Chola MS General Mammen is certain about the company’s future: “We are very confident Insurance — represents what can about what tomorrow will bring. There is a place for MRF in India’s Creating a diverse and dynamic business portfolio be achieved when Indian and Jap- development. We see a great deal of opportunity for us to work along- urugappa Group is one ues. Its founder, Dewan Bahadur 2013-14 while remaining true to farming sector. Another opportu- anese companies work together. side automotive companies who see the potential in India as the country of India’s biggest indus- A.M. Murugappa Chettiar, first its traditional values and continu- nity we have seen is in retail. We “We believe there are sig- moves forward.” ◆ trial houses. As a market established a money-lending and ing to invest in a wide range of now have 700 retail outlets sell- nificant opportunities to work www.mrftyres.com M leader in engineering, abrasives, fi- banking business in Myanmar. By business areas. ing nutrients, seeds and pesticides. alongside our Japanese friends nance, general insurance, bicycles, moving his assets back to India “Our group is highly diversi- We believe that with proper ad- in overseas markets,” Vellayan sugar, farm inputs, fertilizers, plan- and restarting the business there in fied,” explains Vellayan. “While vice, implementation and mecha- emphasizes. “The Japanese have tations, bio-products and nutraceu- the 1930s, Murugappa Group was our fertilizer business is facing nization, we can successfully capital and technology. As a ticals, Murugappa has over 32,000 established as an Indian business challenges due to the monsoon, support India’s agriculture sector.” group, we can partner with them employees working in manufactur- driven to succeed. our agri-business sector, especial- Vellayan also sees opportuni- in overseas countries and also ing facilities throughout India. “We recognize the importance ly sugar, is performing well. Our ties for Murugappa to partner with bring products and services to The group has alliances with of being contemporary while con- financial, automotive and home more international companies India.” Morgan Crucible of the U.K., the tinuing to build on the legacy of loan and insurance businesses are — in particular Japanese firms — As Murugappa Group faces the China Engineering and Explo- the group,” says A. Vellayan, ex- also showing healthy growth. both in India and abroad. future, the group intends to build ration Bureau, Cerdak of South ecutive chairman of Murugappa “We see challenges as oppor- “The Japanese have profitable on its history while creating a di- Africa, Cargill International of Group. “This is the driving force tunities,” he continues. “The next operations in India in the auto- verse and dynamic business port- Switzerland and Japan’s Mitsui which is taking Murugappa into generation of Indian farmers does motive, telecommunications and folio, ensuring the group remains

Sumitomo Insurance. the future.” Murugappa not want to work in agriculture, power generation sectors,” he an industry leader in India’s vi-

MRF Today, the group continues to The group is aiming to achieve A. Vellayan, Executive Chairman, so we want to play a role in the explains. “Our successful joint brant economy. ◆ MRF’s state-of-the-art tire manufacturing factory in Trichy, Tamil Nadu Province be driven by strong corporate val- total turnover of $7.2 billion by Murugappa Group mechanization of the country’s venture with Mitsui Sumitomo www.murugappa.com

With a huge national market Paradoxes and prosperity in a country well on the road to developed status and its area of more than 3 million ndia. The thought of it brings there. Know that in the end, noth- the senses to come to vivid life. A coming progressively well-known ence of India. Over the centuries third most populous city. It is the sq. km, India is open for business up images of multitudes, traf- ing will fully prepare you for In- true land of extremes, it has both as a business base as well. It is it has been the capital of empires, hub of the IT sector not only for — and the business world is flock- Ific and noise. Before you go, dia. It’s best to simply go and let it below-zero temperatures in the an image that may even eclipse and there are visible traces of all India but probably also for count- ing to India. people will tell you it is incon- envelop your senses with its infi- mountains of the Himalayas and its former exotic fame as a tourist its history around the metropolis if less multinationals around the So don’t delay. It is said that venient and not the most visitor- nite possibilities. unbearable heat in the deserts of destination. you look below the surface of its world. when the British colonized India, friendly place, with its extreme India is an enormous country, Rajasthan. India boasts a rich heri- Cities such as Delhi, Mumbai, vibrant street life. Chennai, on the east coast bor- it was they who were changed by weather and still-inadequate infra- the globe’s seventh largest in area tage made up of layers upon layers Bengaluru (Bangalore), Chennai Mumbai, on the other hand — dering the Bay of Bengal, was its unstoppable force. Today, no structure. There will be warnings and second only to China in terms of cultures, one on top of the oth- and Pune have become mainstays perennial rival of Delhi — is the known as Madras and famous for different in that respect, it will about food preparation and avoid- of population. It is so big and di- er, in a hodgepodge that is indivis- on the business traveler circuit: country’s most populous city. On its textile industry. It has become certainly push you out of your ing ice and tap water, and horror verse and filled with so many ible from the modern subcontinent more connected to the world and the west coast of the subcontinent, South India’s economic center: comfort zone and open your eyes stories about “Delhi belly.” different people and cultures that itself. at the same time opening up the it is considered India’s commer- one of the country’s most im- to the immensity and perplexity of The advice may be well-inten- it would be impossible to label Today, India’s major cities are essence of India to its growing cial and entertainment hub: home portant ports, one of the world’s the world and its humanity. tioned, but it will not always be it with any generalization. It is on the list of the world’s most-vis- number of visitors and internation- of the BSE (formerly the Bombay fastest-growing cities and a key As it has done from the begin- accurate. At best, it will prepare multi-dimensional, with each state ited places by business travelers al residents. Stock Exchange) as well as Bol- manufacturing base for the coun- ning of time, India will change you to expect a very different ex- much like an independent country, from all over, with the Japanese In the north, Delhi includes In- lywood. try’s auto industry. you, unlike any other place you perience from anything you have each with distinct peoples, cus- being no exception. As Japanese dia’s seat of government: New After these two giants, formerly Pune, relatively close inland to have ever visited before. The best previously seen, heard or smelled toms, cuisines and languages. To companies increase their presence Delhi. Inhabited since the sixth second-tier cities have risen up as Mumbai, is rich in universities: advice is to just let yourself ab- before. At worst, it will create speak of India is to speak of an en- in India, recently categorized as a century B.C. (and even now sec- well and are challenging each oth- this has made it a major base for WER sorb its energy as it takes you on an undeserved bias against the tire world in itself. newly industrialized country on its ond within India in population), it er for business prominence. Ban- IT and manufacturing companies A street in Rajasthan: India is an a unique ride into its boundless country before you even step foot A stay in the country forces all way to developed status, it is be- will probably be your first experi- galore, in the southeast, is India’s today. entire resplendent world in itself. future. ◆

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