Sunday, October 7, 2012

Gandhi Jayanthi celebration

V Balasubramanian
It is my pleasure to share my pix taken on the occasion of my speaking on Growing relevance of Gandhian ideals in new age economy at a seminar organised by Sri Vishnumohan Foundation, T Nagar, Chennai on Oct 2, 2012. I was fortunate to share my thoughts amidst the Blessing of Her Holiness Gnananda Saraswathi Swamigal, Swamiji, Sri Hari Prasadji, Scholars and Devotees.

Wednesday, October 3, 2012

Growing Relevance of Gandhian ideals, thoughts


Oct 2, 2012











Sri Vishnu Mohan Foundation:
Seminar on
Relevance of Ahimsa & Gandhian Ethics In the contemporary times



Growing Relevance of Gandhian ideals
in new age economy


V Balasubramanian,
Asst Resident Editor,
The Economic Times 



















I sincerely appreciate the initiative by the foundation to inspire children, youths and senior citizens on the growing relevance of Gandhian principles and values.

Having imbibed Mahatma’s name, the Foundation can really take pride in celebrating and spearheading the immortal and universal values and principles of Gandhiji.

In critical times like what we are facing today, it is all the more important for imbibing Gandhian principles, ideals and values among children and youths. They had relevance in the past, have more relevance at present and will continue to have in many more years to come.

It is time for all of us to always fondly remember Mahatma and refer and reflect Gandhian principles such as non-violence, courage, truth, selfless service, honesty, integrity and Grama Swarajya.

His religion was tolerance

We all know how Gandhiji won a great non-violent battle against the mighty British Empire and in the process evolved a moral force so powerful that it attracted the attention and admiration of the world. Mahatma said,” I have nothing new to teach the world. Truth and non-violence are as old as the hills”.




In an age of mutually assured destruction, we need to remember Gandhiji’s warning about an eye for an eye making the whole world blind.  We are all craving to live in a world of peace. Whereas, we are living in such a horror world that looks like we need to observe an international day of non-violence every day not just on Jan 30, when Gandhiji became a Martyr. 

Gandhiji’s strengths came from his faith but his religion was tolerance. We need to teach our children that compassion is above justice.

You all would have read US President, Barack Obama’s reaction to the violent reactions in the US that erupted in the aftermath of an anti-Islam film. He said, “It is time to head the words of Gandhi, “Intolernce is itself a form of violence and an obstacle to the growth of a true democratic spirit”.

Gandhi as brand ambassador

No wonder, with increasing penetration of internet and Google, he has turned the best Role model for today’s generation across the world. And also an inspiration and a brand ambassador for leading organisations.

In one of its famous advt campaign on Oct 2, Mont Blanc recalled his famous quote that “the way to truth lies through Ahimsa (non-violence)” it pays tribute to the man whose words had the power to move the masses and the soul.

To commemorate Gandhi’s historic Salt March in 1930, it unveiled an 18 carat gold nib plated with rhodium pen at a cost of Rs 14 lakh.

In the 1990s, Apple, which has now turned a giant in the Iphone age, used Gandhi’s meditating image to launch its Machintosh range of computers. That is now a collector’s item.

At the height of global financial crisis in 2008-09 when several banks collapsed, AIG in its advt relied on Mahatma Life to win the confidence of investors. Its advt said, “some times all it takes to change the world is not be changed by it”.

Further, AIG, which had a JV with Tatas said, “one man who believed he could stand by his convictions and seize the future. His determination, courage and undying resolve to change the world continue to inspire us. We saluate his resilient spirit to overcome every challenge. Let us unleash the power of one. And continue for ever the legacy of Mahatma”.

We all know the success of movies like Gandhi in early 80s starred by Attenborough and Sanjay Dutt moved Munnabhai in 2006.

Customer service is the buzz word in the liberal era. On entering any bank branch, we find only Gandhi said about customer service.  “A customer is the most important visitor on our premises.  He is not dependant on us. We are not doing him a favour by serving him. He is doing us a favour by giving us an opportunity to do so”.

The most important quote I admire the most is “ We must be the change we wish to see”. If Bhagavat Gita tought us the importance of accepting change in our life, Gandhiji wanted all of us to embrace it and set an example before expecting others to do it. In times of change, there is no incentive so great and no medicine so powerful as hope for a better tomorrow.


Gram Swaraj was his dream

Gandhiji said, “I have believed and repeated times without number that India is to be found not in its few cities but in its villages”. Even after 65 years of our Independence and economic liberalisation since 1991, 70% of our population still dependent on rural economy. It remains the Real Bharat.

Despite being one of the fastest growing economies in the world, a missing link or disconnect is being felt with a large section of our people, especially in rural India.

Our growth benefits are not trickling down or percolating down thereby widening the rich- poor divide.

That is why; we are seeing more himsa and crimes in the form of violence, terrorism and killings. The policy makers are seeking to resolve the problem through inclusive growth with economic empowerment of the masses by way of education, employment and economic activities.





Gandhiji on Greed.

Gandhian thoughts on Ethical practices have become critical in the context of the madness for wealth creation, both by individuals and organisations. They are also important for overall governance and building  an organisational culture.

Let us recall the dialogue in the movie Wall Street which became a hit in 1987. “Greed is good, greed is right, greed works... it will save not only the company but the malfunctioning corporation called the USA,” boomed actor Michael Douglas, portraying the rich fictious character Gordon Gekko, to Teldar Paper stock holders in the 1987 movie Wall Street that won him an academy award.

When this clipping was played in one of the B Schools two years ago and when MBA students were asked “Which is the underlying problem behind the global financial meltdown?” Greed shot back the MBA students in chorus. The students were then reminded of Mahathma Gandhi’s message, “Earth provides everything to satisfy every man’s need but not every man’s greed.”

When asked to choose between Gekko and Gandhiji, the budding managers all replied Mahatma in unison.




Complete erosion in ethical values and loss of moral values are responsible for the failure of banks in the US (25 banks in 2008) and 120 in 2009 so far) as well as the latest scam involving the hedge fund player, Rajrathinam of Galleon Corporation which caused the collapse of so many banks”.

The “hurricane victims” are not only from the financial sector but in the past it had companies like power major, Enron, Worldcom, Tyco Corporation etc., Ethical collapse often precedes financial collapse. If there are ethical problems, financial demise is certain.

Our Motherland is rocked by mega scams like commonwealth games, 2G, Coalgate.  Greed and failure of ethical practices are the underlying problem behind the scandals.

Again, corporate social responsibility (CSR) and ethics are two sides of the same coin.  The high visibility an organisation gets due to its CRS activities and many awards do not guarantee their following ethical practices”. The best example is the fraud in Satyam Computers involving its founder and promoter, B Ramalinga Raju, who got Asian CSR award.

We see now a days a craze for wealth creation and also buying Yellow metals, all at the cost of our health. Let us rembember what Bapuji said, “It is health that is real wealth and  not pieces of gold and silver”.





Mahatma on Seven Social sins

Politics without principle, wealth without work, pleasure without conscience, knowledge without character, commerce without morality, science without humanity and worship without Sacrifice.

Pandit Nehru on Mahatma

This light that shone in the country was no ordinary light. And a thousand years later that light will still be seen and the world will see it.

Jai Hind.




Tuesday, September 25, 2012

Profile of Balu Balasubramanian of the Economic Times

 I thought it is better to share my profile for the benefit of my relatives,  friends and well wishers. In my future blog writings, I intend to share my lively experiences in the over three decades of career in Business Journalism. Cheers Balu
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Profile of V Balasubramanian, The Economic Times
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V Balasubramanian is currently  Assistant Resident Editor with The Economic Times, Chennai. ET is part of Times of India group. ET is India’s largest selling business news paper, published from 11 centres.

Balu  has over 30 years of experience in business Journalism. Hailing from an agri family in Thanjavur district,  he did his M A  Economics from Kumbakonam Arts College in 1978 and scrored First  Class.


Fifty Seven year  old Balu has risen to become a senior and well known journalist through his hardwork, passion for learning and perseverance.

He began his career as a Lecturer in a college in Mumbai. Later, he joined the erstwhile Commerce Publications as Research Associate. In 1980, he joined Financial Express and got transferred to Chennai in 1981.

Balu moved over to ET in December 1989. In his long career, Balu has been writing articles on a wide range of subjects covering politics, business, southern economy, corporates, industrial sector, banking and
 industrial relations.


He has to his credit a number of exclusive stories on new projects, mergers and  acquisitions, boardroom changes, corporate battles etc. He has brought out special features and articles on major industries, andTN economy. He has built strong relationship with Corporates and institutions in TN. He has officially visited UK, Germany and Saudi Arabia.



Balu  has  addressed a number of seminars and special programmes. He hasIntroduced over 75 captains of industry and professional achievers to management and professional students in various colleges and B schools through ET in Campus, an exclusive forum for students started 11 years ago.


 He has also organised several knowledge sharing sessions with CEOs and  CFOs as part of the initiatives by ET. An ardent believer in team building and excellence and a great admirer of India and its inherent strengths, Balu takes pride in working for ET, a Super Brand and a Power of Knowledge. He has also addressed a number of public fora and seminars. 



In 2012, he  was presented Rathna Award for his outstanding service in the field of Financial Journalism by Yogakshema Trust, Triplicane.


Balu is also known for his love for his mother tonque and poet Mahakavi Bharathiyar. From childhood, he has been writing poems in Tamil. Balu has his passion for public service and charity and contributes his best for his native village and for the betterment of economically weaker sections. He played a key role in promoting the first journalist colony at Tiruvanmiyur in Chennai in 1993 and he has been steering the  activities of the welfare association of the colony.

Balu has a loving wife G Malathy, working in State Bank of India. The couple have their beloved only son, B Sreekumar, studying Fifth standard in a premier school in Chennai. Balu is known for his interest in Namasankeerthanam and he has written articles based on the interview with leading Bhajan experts in the website: carnaticdarbar.com. Balu and his family are ardent Devoitees of Sri Kanchi Mutt and Sankaracharyas.

Balu is a great admirer of former Indian President, Dr Abdul Kalam and Kalam's vision for making India a developed nation and an economic power house by 2020. Balu also strongly believes in leveraging the youth power and he has inspiring them with his addresses and actions.

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Monday, June 25, 2012


Nadar Community : Flourishing in Business for years

V Balasubramanian

This is part of my inspiring series on business leaders. In my long career as a business journalist, I have interacted with several business leaders and  entrepreneurs. If there is one community from Tamil Nadu, which has been flourishing in business for decades, it is the highly powerful Nadar community.
I can say Nadars are by far one of  the flourishing richest business communities in India.

They are called Tamil Marvaris.  If Nadars are  dominating for years  the domestic trade and export and import, they have also established leading manufacturing companies.  You can see them running from a pan shop to  big show room.  Known for their hard work, they employ largely their loyal  community people.
Nadar traders play a major role in retail and wholesale trade, transporting and selling materials, products and promoting  brands. They dominate trading in commodity products like building materials, steel, hardware, auto parts,  groceries, provisions, household appliances, durables,  fruits& vegetables, textiles, fashion garments.

Doing business is in their blood. For generations the families are known for running the business. After their higher education, the younger generation is increasingly showing interest to run the family business.


It has also produced political stalwarts. In my school days, I remember rushing to see the great people's leader and former CM, Thiru K Kamarajar from the Nadar community.  I was studying in K G S high school, Aduthurai and he came there to address a public meeting. It was my great pleasure to listen to his speech.  I used to pen poems about him. The State is yet to see a great leader like him. 

I admire Nadar community for their patriotism, nationalism, business acumen, hardwork, passion for their work, compassion for doing good to poor and weakers sections through charity. They believe in coming up life through hard work. Other communities have to learn a lot from Nadars in bettering their life through economic empowerment.

Nadars have a unique  community network called Nadar Mahimai, which has built a number of Marriage halls and community centres. Nadar Mahajana Sangam is the oldest body representing the interest of community. It only founded Tamilnad mercantile bank. The community people manages a number of educational institutions,  Worship places, hospitals.

The community is highly mobile, they have set their foot in all parts of the country and world.

Coming to my mind are the following Leading Nadar Businessmen\Groups. If I have missed out some groups, i may be excused:

  1. TN Mercantile Bank- one of the oldest institutions promoted by Nadars in 1921
  2. HCL promoter Shiv Nadar, SSN college-   Well known face of the community. He has been divesting  his stake to use the money for charitable activities. HCL is a Fast growing IT company after top players like TCS, Infosys, Wipro. It has the highest market cap among listed entities of nadar run companies.
  3. Pioneer Asia group- Run by brothers S Annamalai and S Maheswaran and their families. Their brother,  S Ashok was the well known face of the group but  his untimely death six months ago came a rude shock. Their father,  Sankaralingam Nadar is one of the founders of Sivakasi match industry along with Ayya nadar. The group has big interest in mechanised match business, fire works, printing, chemicals, textiles, wind energy, IT park ( Tamarai IT park) in Chennai. Also overseas ventures

  1. Hatsun Agro- listed company, promoted by  R Chandramohan,  India’s largest private Milk dairy, Arun Ice cream  has been  re branded with big plans for expansion.

  1. Edible Oil: Kaleeswari oil mill ( Munswamy and his son), the Rs 1000 cr company has invested heavily on ERP; The other big names are  Idayam ( Muthu), VVD ( Vikraman and son)

  1. Consumer goods, jewellery: Sivanesan & company ( Premier brands) (Sivanesan), Vasanth & Co ( Cong ex MLA Vasanthkumar), Saravana selvarathanam, Saravana stores, Rathna stores, Rathna Fan house, VGP group ( pioneers in hire purchase finance) Sellamani & Co, Soundaraja Pandian stores, Sekar emporium.

  1. Food , sweets, and restaurant: Saravana Bhavan, Saravana selvarathanam, plus a host of hotels run by the community people. Saravana Bhavan, which has branches abroad, is one brand that has not suffered and doing brisk business notwithstanding  the owner, Rajagopal facing court trials for long.  

  1. Media: Daily Thanthi ( Sivanthi Adityan and his son Balasubramanian):  Malai Murasu- B Ramachandra Adityan and his sons. Daily Thanthi is rocking the Tamil daily market as the largest circulated news paper. After FM radio, it has now entered Televison by acquiring the Stake of The Hindu in NDTV-The Hindu. It is said to have a created  new dynamic team for  channel.

  1. HR: Ma Foi K Pandiarajan and his wife, Latha Pandian. They are the pioneers in providing HR services. After divesting their stake to foreign partner, the couple is readying to build a new venture and start a B school.  
  2. Entertainment: R Sarath Kumar, well known hero, who carved a niche for himself in Tamil cinema. He has given several box office hits, known for his physical fitness, intelligence, secular approach and social service. Active in politics, he was former Rajya Sabha MP and now MLA in TN Assembly.
I feel TN Mercantile  bank is a classic case of an old generation private sector bank fighting against takeover bid for the last 17 years.

In 1994, I broke the news of  Essar  quietly acquiring the bank. Then,   the fight between influential nadar groups  led to Pioneer Asia and others selling their stake to Essar. Essar got almost 67%. but it was challenged by the commununuity, RBI also did not allow Essar to takeover.

Later, NRI Sterling C Sivasankaran got the shares from Essar. He also could not gain control over the bank. Nadar forum purchased a portion of the stake from him. But, still the dispute is not resolved. Amidst the legal war,  the bank business grew manifold  thanks to nadar businessmen and community retaining faith in the bank and not taking away their deposits to another bank. If only  the community leaders end their infighting, the bank has a great future to grow into a big bank in the country with the support of RBI and Government.
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Tuesday, March 20, 2012

A rare honour on a unique occasion

A proud moment in my life on a divine occasion

V Balasubramanian

March 18, 2012 Sunday was a proud moment in my life when I had the privilege of being honoured on a divine occasion. Yogakshma Trust presented me their prestigious Yogakshema Rathna award for my outstanding service in the field of financial journalism.

I was presented the award at the 13th  Vedic Sammelan organised by Yogakshema Trust at Triplicane in Chennai. Indeed, it was a  rare honour and a  memorable day for me to receive the first award in my life that too before Vedic pundits present on the unique occasion.  

I paid my sincere Pranams to them and took their blessings before receiving the award. When I shared my joy with my relatives and friends, everyone shared my feeling of the unique context of the award- a divine occasion and with the blessings of Vedic scholars.

I dedicate this award to  my late parents, Sri K Viswanatha Iyer and Smt Kamalambal, who continue to guide and bless me in leading a meaningful life. It is also due to the Blessings of my Kanchi Sri Acharya Gurus.  I sincerely thank all those who supported  my life and 33 years of career in financial journalism.

I am really thankful and grateful to my ex veteran ET journalist colleague, Sri T E Raghavasimhan for the great recognition. As the  managing trustee of the Trust he is silently doing a great service for the betterment of vedic vidwans.


Yogakshema Trust, Triplicane has been endeavouring to serve the cause of the Vedas as also the Vedviths practising them. It has been organising annual vedic sammelan and helping indigent Vedaviths financially for their social needs.

The Trust  organised its 13th Vedic Sammelan at Triplicane in Chennai on March 17 and 18. More than 300 Vedaviths and Pundits took part and performed veda parayanam. The scholars also explained the importance of four Vedas and their Golden teachings for leading a peaceful and prosperous life.

Besides arranging for their comfortable stay and food, the trust organised a health camp for vedic vidwans with a team of doctors examining their BP, sugar, Eyes and prescribing treatment.

The vedic sammelan was conducted under the guidance of Trust Chairman, Sri N S Ramanuja Thathachariar, former Vice chancellor, Rashthriya Kendriya Vidyapith, Tirupathi.  Among others who graced the occasion included Dr K Sridhar, member, Tamil Nadu planning commission, and Sri Agnihotrham Madhuranthagam Echambadi Aravamudhachary, a vedic scholar.




On the occasion, the Trust also  presented Yogakshema Rathna awards to the Triplicane cultural academy and Srinivas Youngmen’s association ( for social service) and India Cements and its MD, Sri N Srinivasan ( for the big  achievement in cement industry and contribution to sports development).

Friday, February 24, 2012

ET Chennai edition completes 18 eventful years




V Balasubramanian

ET Chennai edition  entered 19th year today (Feb 24) having completed eventful years since it was launched on Feb 24, 1994. It is all due to the unistined support me as well as my dear ET got from the senior editors, team ET,  discerning readers, corporates and advertisers. I am proud to be associated with the fascinating growth journey of ET in India as well as in this important market.

Today, on sharing the joy with business leaders and friends, I have received heartful messages from them appreciating ET's growth and my passion for the work and brand, my committment and contribution to its growth. Indeed, it is heartwarming journey for ET and me.

ET was there when Tamil Nadu turned into a destination for 30 Fortune 500 companies, when gen-next took charge of family owned businesses, when the State witnessed a boom in IT and auto sectors, when it turned into a global manufacturing hub in telcom and hardware and when knitwear exports from Tirupur crossed Rs 10,000 crore.


ET was also there when the topline of several  home grown companies and groups crossed $ 1 Billion mark in the liberal era,  when TN produced several first generation entrepreneurs in the service and manufacturing sectors, when good politics by the ruling  Dravidian parties started driving good economics and when the film industry was corporatised and films became a hit at the national level.

I have no doubt on  ET continuing the success story with its flag flying high. I have a dream of ET coming out with a Tamil edition for reaching its rich content to the masses.  I am sure my dream will be realised soon. Already, the market has seen the phenomenal success of ET one page in Daily Thanthi. Long Live ET; Jai Hind.

Thursday, February 23, 2012

ET in campus Event at Sathyabama University






 

V Balasubramanian
Feb 23, 2012

As a part of my passion for organising ET in campus programme for MBA students for more than 10 years now, the freshers at Sathyabama versity in Chennai on Feb 22, 2012 had a wonderful opportunity to interact with Mr R Sethuraman,Sr VP, Finance and Corporate Affairs, Hyundai Motor India Ltd. In his hour long presentation, he enlightened students on the liberal era in India, rapid growth of auto industry and the success story of Hyundai Motor, which he said has made the largest investment of over Rs 8000 cr in TN and over 1 lakh families are depending on it. He also gave useful advice to them on preparing their resume and facing interviews. The occasion provided an opporunity for me to understand the requirement of MBA students. I felt the need for more business leaders like Sethuraman to share their knowledge with the students to help them succeed in their career. That way, I am always greateful to my dear ET and the RMD team for helping me in organising over 75 meetings with CEOs, first gen entrepreneurs and top business leaders under ET in campus in the last 11 years.

While interacting with Mr Sethuraman i was delighted to know he hails from Udaiylalur village near Kumbakonam. I have lot of friends and relatives from the village and used to visit in my childhood days. I did my UG and PG in Kumbakonam arts college by commuting in cycle and bus everyday from my village, Vilangudi.  I was also delighted to know that Mr Sethuraman did his CA under late Shri Panchabakesan, a veteran auditor from Kumbakonam and father of P Vaidyanathan, a key share holder in City Union Bank and founder of Integrated Enterprises. Shri Panchabakesan was an avid reader of ET and used to call me and meet me regarding news in ET.

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Thursday, February 2, 2012

Shriram group founder Chairman, R Thyagarajan

2.2.2012


Shriram group founder Chairman R Thyagarajan

The Statistician who struggled to measure the moves of regulators

V Balasubramanian

In my long career in financial journalism, I have moved with several business leaders. It is worth profiling the interesting business journey of these leaders for inspiring the gen next. I would like to share my thoughts about the most admiring entrepreneur-cum business leader I have come cross in the financial market in Tamil Nadu .

He is Mr R Thyagarajan, founder Chairman, Shriram Group, who is now playing more a mentor role. He is known for his simplicity, humility and a sharp business sense.

The group has  emerged as one of the largest financial super markets in the country offering a range of products and services. It has turned a darling of PEs and foreign and Indian investors. But,  not many journalists would know the serious challenges and  turbulent times faced by RT and the group.

In the mid nineties, his group almost ran the risk of collapse when regulators breathed under the neck of non-banking finance companies, which were registered with RBI and mobilising public deposits. How he bounced back to build one of the largest financial super markets in the country still remains an untold tell- tale story.

 R Thyagarajan, one of the three founders of Chennai-based Shriram group had his first brush with a regulatory fiat a decade ago. It was that time when scores of RBI registered and non- registered ( those coming under companies act) were collapsing like a pack of cards in the wake of erstwhile CRB Capital scam in the stock market. Following RBI’s stringent norms to regulate the deposit taking NBFCs, three entities of Shriram group came under cloud.

That day, one evening, when RT and team were seriously discussing their business plans, RBI faxed a release to media offices stating the three companies are barred from accepting fresh deposits as they had no credit rating. RT was shocked as the companies did not solicit any fresh deposit from the public but only carried a statutory advt in a local paper for renewal of deposits. Whatever it is,  it got the attention of regulators. It would have led to a run on the companies but for the timely intervention by RT to salvage the situation. By converting a large portion of deposits into debt instruments he restored confidence among investors.

Soon, he met with second crisis when Shriram’s mutual fund venture bombed after incurring the wrath of Sebi and was de-recognised. Since then, RT used his energy for building a strong financial group.  Today, the group is managing funds over Rs 40,000 crore offering a bouquet of financial products-  chit funds, truck financing, SME financing, consumer loans, life and non-life insurance products, equipment financing, private equity ( through a JV with TVS group). It is gearing up to float a bank and enter home finance market.

The statistician  turned financial stalwart, who struggled to measure the moves of regulators and fought with credit rating agencies on their low rating of his group entities, succeeded in  attracting copious investments by scores of PE players  like Chrys capital, TPG capital,  Merrill Lynch, Cambridge, ICICI ventures, New bridge capital,  Asia Bridge and Bessemer. They have all invested in Shriram Transport Finance ( Truck financing), Shriram city union Finance ( consumer and SME financing) and the group holding arm, Shriram Capital. 



In addition, he attracted investment by strategic investors like Citicorp, Axis Bank, Reliance Capital and FMO of Netherlands. STFC and SCUF have also raised over Rs 2000 crore from the capital market through NCDs. They have huge market capitalization of their listed stocks.


 Shriram Group had its humble beginning with  Chit Fund business in 1974. R Thyagarajan, AVS Raja and
T Jayaraman were the “three musketeers” who ventured into these businesses. Not many in the Financial services industry thought at that time, this small Chit Funds business in Chennai would indeed be the foundation for the financial conglomerate that Shriram is today.


Post crisis, RT emerged the real face of the group. Hailing from Sirkazhi in Thanjavur district, RT obtained his masters in mathematical statistics from Indian statistical institute. He is also an associate of chartered insurance institute, London. He spent 15 years with New India Assurance ( before nationalization) and another 10 years with JB Boda- the largest reinsurance and insurance broker in Asia.

Inculcating the philosophy of” putting people first”, he has transferred Shriram group into India’s premier networked financial service supermarket. He has effectively utilised the large network of branches, agency force and investors base to expand the product range. Long before Indian businessmen came to know about venture capital funds, Mr Thyagarajan had played an “ angel investor” in his own way.







Over the years, RT played a major role in nurturing entrepreneurship in diversified fields. Shriram group has invested in ventures focused on businesses like IT, engineering services, auto components, pet & flexible packaging, musical instuments, medical devices, real esate , power and infrastructure.




 He is credited with retaining talent with most of the companies having long serving  home- grown CEOs. To give a sense of ownership he has made all the 32 professional  CEOs as big stake holders of their ventures and some of them are also stake holders in the holding arm, Shriram capital. RT is also known for hiring ex- RBI and bank officials for managing his businesses and dealing with regulators and policy makers.

  Perhaps, his biggest contribution is to the truck financing industry in  developing a large number of small transport operators. Ten years ago, STFC was a small player in truck financing. Today, it is country’s largest asset financing  ( pre owned and new trucks and other vehicles) company with over Rs 36,000 crore assets under management. With 391 branch offices, it has a customer base of over five lakh.

Similarly, Scuf which began operations in 1986, is a leading player in financing consumer durables, two wheeler, SMEs across India. Shriram Property, which acquired the large land parcel of erstwhile Standard Motor property in Chennai for building IT infrastructure, has emerged a leading realty player . RT has also forged a strong alliance with South Africa’s insurance group, Sanlam for building his non-life and life insurance businesses.

 The group also recently acquired Vishal retailing in Delhi with the support of TPG capital which had invested in the company. It is also gearing up to float a bank and enter home finance market. The group has played a major role in creating employment for a large number of professionals, marketing executives and administrative staff.  




A great admirer of Warren Buffet and Bill gates, RT is influenced by their high philinthorophy and spends lot of his personal wealth for education and upliftment of downtrodden. He has been urging  his 32 group CEOs to earmark a significant portion of their personal wealth for the social  cause. I wish RT sir long years of service to our mother land and investor community.


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Friday, January 20, 2012

Great Milestone in ET in campus initiative

V Balasubramanian

With the wonderful support from our marketing and ET brand team, for the last 11 years, I have been passionately driving ET in campus initiative. It is an exclusive MBA forum pioneered by ET.
It is a unique forum of management and college students  drawn from various colleges in Tamil Nadu. They are all MBA and management students from engineering colleges, B schools and arts and science colleges.


Over the years, the forum  has been acting as  a unique platform for building bridges between the student community and corporate world. We regularly organise meetings with top CEOs which help the students to keep in touch with the rapidly changing  corporate environment and explore their career opportunities. I would have been involved in organising meeting with more than 75 CEOs and business leaders in the last 10 years.

As part of this, ET prodigy, a business plan competition, organised at the all India, evoked very good response from B schools in Chennai. As a result, two out of three winners are from here- Richa Chauhan of GLIM and Amolorpava Mary of SRM- B School. We presented the certificate and prize money to them. It was also reported in ET Chennai issue dated Jan 17, 2012.

Thursday, January 12, 2012

TN Inc Inspiring Leaders' series: Suresh Krishna


Suresh Krishna with his Cousins at the launch of TVS Logistics in 2004


My pleasant conversation with Suresh Krishna in my ET days


on April  19, 2017, i met him and presented  my collection of articles on him, SFL, TVS group in ET since 1990



Suresh Krishna, a great leader whom I always admire and respect

V Balasubramanian


In my long career in financial journalism, I have moved with several business leaders. It is worth profiling the interesting business journey of these leaders for inspiring the gen next. I would like to begin this series with my most favourite leader,  Mr Suresh Krishna, Chairman and MD, Sundram Fasteners. He is one of the senior family members ( third generation) of the $ 6 billion TVS group, employing 40,000 people.

By extensively covering the meetings of Krishna, I have learnt a lot in my personal and professional life. Much to the envy of others, he  has a special regard and affection for me. I have taken his advice whenever I faced a challenge in my career. When I shared with him  my elevation as  Asst Resident Editor of ET, he said, “ Balu, what I have liked in you is that you have stuck to one newspaper for long”. It inspired me a lot to give my best for ET.

After I retired from ET in March 2013 and joined India Cements in April 2013, I met him on April 19, 2017 and greeted him on the occasion of SFL celebrating its Golden Jubilee on 21.4.2017. I presented him  a compilation of my articles  on him, SFL and TVS group since 1990 when I joined ET. He appreciated my gesture and asked me if I am missing Journalism. I said smilingly, not really Sir though I am missing the  thrill of breaking of stories. I told him I am very happy working for India Cements and MD, N S Sir. 


In March 2020,  I  congratualted him for his excellent advice in Tamil through video to employees for taking care of them from Coronavirus . I also  shared with him this  my blog writing on him in 2012 and recalled how SFL lost precious 4 months due to the then virus, Saars before it commissioned its first ventue in China, he immediately acknowledged my message and said, " Dear Balu, I have always admired your thorough research and excellent penmanship. Thank you for resending your article. It feels as if all these things were achieved so long ago. Thanks to the genuine support you have extended, SFL has been recognised widely. Wish you all the best in future. My blessings always". His warm message really touched my heart. 


Suresh Krishna, a true change manager

In 2012, when  Krishna turned 75 years and true to his respect for corporate governance, he retired from the Board of Sundaram-Clayton of which he was Chairman for long.

Krishna has successfully groomed his daughters, Arathi Krishna ( MD) and Arundathi Krishna ( director) in ably managing SFL and its associate companies.

I consider him  a true change manager- someone who brought a new sense of dynamism and direction not only to TVS  group companies but to the industry in general through his purposive leadership. He is an acknowledged “ out of box thinker” in the Indian industry known for his passion for quality and business   excellence.

When the Indian industry was debating on the brutal manufacturing strength of China, Krishna  studied the market for two years and decided to enter the dragon land  boldly in 2003. Dazzled by the fast growing  Chinese automobile market, he took a plunge by setting up a plant for making high tensile fasteners entailing an initial investment of $ five million.

As it  was the first project to be set up  by the Indian engineering industry, Krishna’s strategy was closely watched by industry captains. He did not disappoint them. He lost precious four months due to the outbreak of deadly disease SARS, which forced to delay the deputation of officials and construction of the plant.

Still, the  factory came up in 14 months and was commissioned in May 2004. Even as he was busy setting up his first overseas venture, In December 2003, SFL acquired the precision forgings business of Dana Spicer Europe Thus, it gained a major foothold in Europe, one of the the largest auto markets in the world.

As part of his mission for creating a truly Indian MNC,, he made strategic acquisitions and diversification’s into new product areas and made  it a customer oriented global company.

Krishna had said the acquisitions and Chinese investments are part of the strategy to globalise the company’s business and gain access to new customers and markets. “ We want to have beach heads in different markets to move forward”. 


The success of  Sundram Fasteners, will forever be an inspiration not only for large corporates but for small and medium enterprises as well. For, Instead of assuming the mantle of an existing group company, he decided to build a world class organisation from scratch.

Son of late T S Krishna, he started SFL as a small auto unit in 1966 or  as what he often  calls a “ nut and bolt” firm. It grew from strength to strength and moved up in the value chain  to become an industry leader in the manufacture of high tensile fasteners, displacing the then market leaders like Fit Tight and GKW in the eighties. In the Licence Raj, he faced several obstacles in building his business.

Liberal Era a boon to expand operartions


The liberal era, entry of auto MNCs and export opportunities,  came as a big boon to expand operations.Over the years, SFL also became a multi product leader with business interests in cold extruded parts, powder metal parts, iron powder, radiator caps and gear shifters.

Before   auto components’ outsourcing  turned a big game,  Krishna gauged the potential 10 years ago when he realised the Indian market was not growing fast enough to absorb his company’s entire output. That made him to penetrate into the export market and double earnings every year.


When General Motor was looking to sell off its two radiator cap making plants in the UK, SFL showed interest in acquiring them. SFL managed to win the global tender floated by GM for the plants’ sale.  An accord was signed in August 1992 and by December, the plant was re located.

Supplies to GM took off in March 1993. It was the first time, SFL was supplying millions of caps  on just in time basis to 27 different plants of a major OEM.  It took it as a challenge to meet the commitment. SFL emerged the sole supplier of  caps to GM and bagged the supplier of the year award for five years in a row since 1996 confirming its status as a world class company.

In June 1999, SFL acquired Autolec Industries a leading producer of water and oil pumps. In 2004, it was merged with SFL. In 1992-93,SFL had a turnover of Rs 144 crore, which has now grown to over Rs 2300 crore. It has a track record of good financial performance and creating value for shareholders.


Suresh Krishna has been a pioneer in many ways. It was the first Indian company to achieve ISO 9000 certification. Today all divisions are certified for QS 9000. It was the first company in the engineering sector to receive the TPM excellence award from Japan Institute of plant Maintenance ( JIPM).

SFL has an enviable track record of having an uninterrupted industrial peace without a single day’ unrest or lockout since inception.

He always believed in 100% Indian ownership in companies without giving in to partners and building truly Indian multinational companies.  As national President of CII in early nineties, he had extensively toured the country to spearhead quality movement.

According to him, corporates should have a clear vision aimed at achieving corporate excellence and becoming a winner internationally. The vision which syntheses the aspirations of all workers, must be shared by the leadership and effectively communicated to all. Apart from the commitment of top management, companies must build trust to mine gold.

Suresh Krishna is also considered a “ God Father” for some of the younger generation family members like Venu Srinivasan and Gopal Srinivasan. As Chairman of Sundaram Clayton,  Krishna was instrumental in the company diversifying into two wheeler ( through TVS- Suzuki) and white goods ( TVS Whirlpool).  He  ably guided the brothers when the foreign partners, Suzuki ( from two wheeler biz) and Whirlpool ( from washing machines biz) exited the JVs.




He has said the TVS family members are working very closely and discussing strategies to tap the fast growing global business for automobiles and components. Apart from SFL, TVS Motor, Lucas TVS, Brakes India and TVS Logistics are the other group companies which have set up  ventures abroad.



Perhaps, a silent big role played by Krishna is spearheading TVS Logistics as its  Chairman in the last 7 years. It was on a Sunday in 2004,  I broke the news in ET of coming together of the cousins from the four different families of TVS group for launching TVS- L ( seen in the pix).





In its accelerated   Madurai to Michigan journey since 2004, TVS-L has grown from a mere Rs 95 crore company in 2004-05 to $ 250 Million in FY11.  In a short span,  it had grown fast and established operations\JVs in US, UK, Spain, Germany and Thailand. This was also through strategic acquisitions. It has become  the first Indian multinational logistics company providing fully integrated logistics solutions provider covering the entire segment of supply chain.




Krishna’s cousin and MD, R Dinesh has taken up the task of  making  it a truly global company with a turnover of $ 1 Billion by 2015.  Four years ago, the closely held TVS- L had attracted  $ 25 Million private equity from Goldman Sachs. When stock market conditions improve, one can expect a public issue from TVS group through TVS- L.



I have known Krishna’s avid interest in carnatic music and photography.  With his daughters and trusted professionals managing the affairs of SFL, he has been playing a mentor role and  leading a quiet life in India and abroad. I pray Almighty to Give a  long and  healthy life to Krishna for guiding the gen next Indians.


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