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.

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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I have lost my great Sivakasi friend Pioneer Asia Ashok

I was away at Kumbakonam on Dec 31, 2011 when I heard the sudden demise of my great Sivakasi friend and Director of Pioneer Asia group, S Ashok. It is so shocking to know his passing away at the age of 57 due to heart attack. I have known Ashok since Eighties and he was one of my best sources for my exclusive stories on match industry, fire works and TN Mercantile Bank. When I was in FE, me and  ex-colleague, Mony Mathew ( now with BL) visited Sivakasi for doing feature on Little Japan. Ashok helped us in meeting industry people and collecting informations. A soft spoken and always smiling person, Ashok knows the subtle ways to alert me on news developments. He represents an illustrious business family. His father  Sri Sankaralinga Nadar is  the founder of Match industry along with Ayya Nadar. Ashok and his brothers, Mr Maheswaran and Annamalai had unitedly grown the businesses of Pioneer Asia group which has interests in safety matches, textiles, wind farm, fire works, IT park, auto components.  Ashok saw the group entering the asst financing business when it floated NBFC Pioneer overseras Finance with IOB. Ashok played a major role in building the export businesses and the magnificient IT Park- Tamarai in Chennai. He was the champion of match industry. His group was the only major player in the small sector taking on the competiton from the erstwhile MNC, Wimco. Later, when Wimco exited the field,  ITC entered the field by sourcing matches from unorganised units. Still, Pioneer Asia remained a strong player.  Ashok  shot into limelight when his family sold their stake in TN Mercantile Bank in 1994. This had triggered the takeover of the bank by Essar group. I was lucky to know the devp and broke the  story in ET in Sept 1994. Ashok used to tell me what forced his family to sell their block stake. I was surprised  to know the same Ashok silently leading the renewed effort of Nadar community to regain control over the bank. He had plans to make it a big bank, broadbase its shareholing and professionalise the management. I am sure his admirers and other shareholders will help in realising his dream. I sincerely condole his death and convey my heartfelt condolences to his dear and near.

A book on our great maternal uncle

How our beloved Maternal uncle, SN,  touched our heart and life

In the celebrated  Indian family tradition, maternal uncle plays an important role in the lives of children of his sister.  In our large family, our maternal uncle,  late Sri S Nataraja Iyer of SBI, Mumbai, as a wonderful human being,  created a profound and powerful influence in the lives of many relatives and friends. It is 19 years since he passed into pages of history. But, we all still admire and adore him for his devotion to God and Gurus, his selfless service, foresight, humour, positive approach, patience and unconditional hospitality. Hailing from Tappalampuliyur village near Tiruvarur in TN, he was the younger brother of my beloved mother, Kamalambal. After working in Sundaram Motors in Chennai and Railways at Jabalpur, he joined the erstwhile Imperial Bank of India in Mumbai and which later became SBI.

Thirty years ago, Mumbai was the only major job market and it topped the minds of aspiring middle class for starting their career. It was SN and  his family who had graciously accommodated them in their large heart and small house. I am one of his nephews always grateful for his support in shaping my life and career. After my PG at Kumbakonam arts college,  he invited me to come to Bombay in 1978. I lived in Mumbai for three years before returning to Madras in October 1981.  

Two years ago,  when I revealed my interest to bring out a book on uncle using my long experience as a journalist, my uncle’s sons, N Muralidharan ( formerly with Wipro, Jobstreet.com and now a consultant in B lore)  and N Pattabiraman ( now holding a top position in Axis Bank, Mumbai), encouraged me to go ahead. Then, we asked relatives and friends to share their thoughts on  how SN influenced their life.

Finally,  September 25, 2011 marked a memorable day in my life. That day, a coffee table book compiled by me on our beloved uncle, was released by uncle’s wife and our beloved aunt, Smt Jayalakshmi,  at a function in Navi Mumbai. Titled Thoughts of Dear & Near on Sri S Nataraja Iyer, the book is meant to serve as a good material for today’s generation to refer, reflect and imbibe my uncle’s great human qualities. It was a proud occasion attended by relatives and friends of uncle family. A number of people including my aunt, uncle’s sons and daughter, son in law, daughter in laws and others have nicely shared their ever green  memories about our uncle.. A number of gen-next members showed keen interest to read the book to know about my uncle.

In my preface, I have mentioned that we are all proud of India emerging an economic power and big improvements in our career and personal life. India stands out from rest of the world and able to march ahead due to its celebrated democracy, secularism and peace-loving people. At the same time, there is a concern over westernisation of our established culture, tradition and values. Our cherished joint family system is on the wane. Fostering harmonious relationship among family members, friends and neighbours has become a big challenge. Gen next is  desperately on the look out for elders and God fathers to guide them in leading a peaceful and prosperous life.

Here is a collection of thoughts of late S Nataraja Iyer (SN) who was a beacon of light for many. He was a role model for young and old. It is meant for private circulation and given to important members of our family. Along with this article I have shared the pictures taken on the occasion. I am holding a book and the pix was clicked at our home in Chennai by my son, Lakshman ( alias) Sreekumar on Diwali day.

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I am happy to see one more gen next member of TVS family- Mr Sudarshan Venu coming on board. Son of well known corporate couple, Shri Venu Srinivasan ( CMD TVS Motor) and Ms Mallika Srinivasan ( Chairman & CEO, TAFE), Sudarshan Venu has been appointed as an addl director of Sundaram- Clayton. I have lot of admiration for TVS group and its rich legacy. It always stands for Trust, Value and Service. Thanks to the active role being played by a number of Senior family members, the group companies are seeing a smooth succession.  Sudarshan too  comes with rich academic credentials. Twenty two year old Sudarshan is a smiling and  simple person. I wish him all the very best for having a long, eventful and successful career in TVS group. I am also happy to note the return of Krishna Mahesh as COO of Sundaram Brake Linings.  On this occasion, it is my share below my article on TVS group carried in The Economic Times ( Sunday ET) on Sept 17, 2006.

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Synchronised for succession
17 Sep, 2006, 0138 hrs IST,V Balasubramanian, TNN
Once upon a time, long, long ago, there was a king named Bharata who ruled over India. One day King Bharata decided to appoint a successor from among his seven sons, but he found none of them fit to rule. So, he requested the Rajaguru to identify a competent person to succeed him as king. The king was genuinely interested in the welfare of his people and did not want his incompetent sons to succeed him. It is because of his great quality that the land he ruled has come to be known as Bharat Varsha.
Another time, another day. Centuries have passed, but the challenge remains. India's great family business dynasties that continue to dominate the economy, and account for two-thirds of India's industrial output, are facing up to the challenge of succession planning, in the wake of economic reforms, now well-entrenched in its 15th year.
Experience shows that even for those who have succeeded in finding a successor, inheriting a family business can mean big trouble. North India, the battleground or Kurukshetra, is littered with corpses of what used to be the country's premier industrial dynasties. South India, the other citadel of dynastic business, though spared a holocaust, is no exception either.
There's an exception though — the 94-year-old Chennai-based TVS group. As the patriarch of another leading city-based business dynasty says, "TVS is the best example of family leaders taking the lead and running their business with the support of professionals."
Despite its $3 billion-plus topline, TVS is not projected as a cohesive corporate monolith. Yet, it has a holding company — TV Sundaram Iyengar & Sons, that originally promoted leading auto component companies such as Sundaram Clayton, Sundaram Fasteners, Sundaram Brake Linings, Brakes India, Wheels India, Lucas-TVS, and TVS Srichakra.
Members of the four TVS families — TS Krishna, TS Srinivasan, TS Rajam and TS Santhanam — are on the board of the parent holding company, TV Sundaram Iyengar & Sons. While independently managing their companies (see chart), the elders have found innovative ways of grooming and inducting the nextGen into business.
Worldwide experience shows that family businesses generally thrive under the first, decay under the second and whither under the third generation. Family business, researchers say, usually the third generation, loses management control over business and only 3-4% survive and prosper.
TVS has bucked the trend, successfully retaining hold over its traditional business of auto components for four generations. The group has also fortified its presence in the manufacture of two-wheelers and computer peripherals, besides financial services such as truck financing, insurance, mutual funds and housing finance. It has also diversified into the new BPO business.
Corporate watchers recall that when the most of corporate India was passing through turbulence between 1996 and 1998, with numerous shakeouts, business and asset stripping, disinvestments, closures, sickness, M&As and the like, the TVS empire remained robust building on its core competence. The companies sustained their profitable operations and paid handsome dividends.
What's more striking, the TVS group companies underwent a smooth transition into the 21st century business arena. They did not suffer when the parentage of their global partners changed following worldwide M&As in the automobile sector. Wheels India, Axles India, Sundaram Clayton, Brakes and Lucas-TVS continued to thrive. The only exception was the spat between the group and Suzuki Motor of Japan. Yet, following Suzuki's exit, TVS Motor emerged stronger by widening its product range with in-house R&D and increasing its marketshare in motorcycles.

How did this happen? Analysts say the group stuck close to its knitting, grooming professional managers from within the family while retaining the services of professional retainers. Says T Kannan, MD of Madurai-based Thiagarajar Mills, "The TVS family has addressed the issue of inducting family members in a well-thought-out fashion. They have good processes in place. Youngsters are always inducted at the junior level and they work their way up. All of them come with a rich and varied experience. This contributes to the successful induction."
At the dawn of the liberal era, in 1992-93, the group's turnover was Rs 3,000 crore. It touched Rs 5,500 crore in 1997-98. Riding the automobile boom, the Group's turnover zoomed further to over Rs 12,000 crore in 2004-05. In 2005-06, it is estimated to have crossed the Rs 13,500-crore mark.
Prof John L Ward, co-director, Centre for Family Enterprises, Kellogg School, who was in Chennai last year, said, "Business leaders from the family should motivate, track, guide and induct generation next into the business."
At TVS Group, this is what's happened precisely, though a bitter legal feud broke out between the TVS cousins in 1993 over one group company trying to enter the product line of another. But, soon the cousins declared ceasefire and with business interest overriding everything else, the families started focusing on building their brands. Senior family members are reluctant to talk on succession planning. But one of them nevertheless told SundayET, "There is no dearth of talent. We are sure the next generation will live up to the rich TVS tradition of trust, quality, value, service and discipline."
Family watchers say the fourth generation has been inducted at the most opportune time (see chart for who does what). TVS companies are no longer conservative. They are dominant market players busy setting up projects in the rest of India and abroad. They are also looking at more M&As and JVs as part of globalising their businesses.
Insiders say there is no dearth of bonhomie between the cousins and they regularly meet and discuss strategies to step up exports and globalise operations of group companies by leveraging the strong TVS and Sundaram brands. In the past couple of years, at least half-a-dozen nextgenners have either got elevated or joined leading companies after pursuing higher studies and working abroad.
Till not long ago, Srivats Ram, son of S Ram was steering Wheels India as ED. Now, he is the company's joint MD. His cousin, Harsha Viji ( first son of S Viji, who is brother of S Ram) has joined Sundaram Finance group as senior vice-president. Harsha's brother Sriram is studying abroad, and is expected to join the family business soon. At Sundaram Fasteners, Arathi Krishna, the second daughter of CMD Suresh Krishna has become ED. She began her career in 1990 as a management trainee and became general manager in 1993.
Arvind Balaji has joined Lucas-TVS as VP-business planning and will eventually succeed his father, T K Balaji, MD of Lucas-TVS and other companies. Krishna Mahesh, son of K Mahesh, has joined Sundaram Brake Linings as ED. He has a distinguished academic background having acquired MS in mechanical engineering from Standford University. He worked at McKinsey & Co between 1998 and 2001 and trained intensively at Toyota Motor from 2001 to 2003. Mr Mahesh did his MBA from Harvard in 2005.
His sister, Shrikirti Mahesh is working as senior manager, technical at SBL after graduating in engineering and working at Toyota Motor. TVS Motor CMD, Venu Srinivasan's daughter, Lakshmi Venu too is working in the company as part of her PhD in engineering management at Warwick University, the UK.
Says K Mahesh, CMD, SBL, "After his 11-year stint, I wondered whether my son (Krishna) would join me. I am happy he is working in the company. Today's generation is well-educated and well-informed. But, as in the rest of the industry, the biggest challenge is to attract and retain talent."

K V Shetty demise a personal loss for me

I am very sorry  to know the demise of my very good industry friend and source,  Shri K V Shetty, Director, IP Rings, India Pistons and other companies of Amalgamations group on August 18, 2011.  I convey my heart felt condolence to his family members and colleagues. I  sincerely pray God  for his Great Soul to rest in Peace.
As a business journalist, I have known Shri Shetty for the last 10 years. I have seen him  always sporting smile and treating people with love and affection.  He is a doyen  and father figure of auto component industry. I have  interviewed him as MD, IP Rings as well as  ACMA  national president.
He was the most active and dynamic ACMA president I have come across in my 30 years of career in business journalism. He was a highly resourceful person with a thorough knowledge of the industry. He was very articulate in communicating industry related issues to Government authorities and media. In his passing away, the Industry has lost a veteran and true friend.
During his life time, Shri Shetty has proudly seen the rapid growth of auto component industry and it was during his presidentship, exports crossed $ one Billion mark ( 2003-04). It was a significant milestone in the industry history. He has also seen the explosive growth of the industry in the south, especially Chennai emerging Detroit of South Asia.
I once again sincerely mourn his death.

Ever Green Legend.....

In my long innings as a business journalist, I have interacted and interviewed almost all top indusrialists and CEOs in TN.  I have won their goodwill thanks to my strong platform- ET and by belief in fostering long term relationship.

One among them is Shri A Sivasailam, Chairman of Amalgamations group. I have lot of respect for him and his family. He has shared several exclusive stories with me for ET. I was terribly upset when he expired on January 12. I had visited his house to pay my homage. When I last met him on August 31, 2010 at a function organised by AMCO batteries to honour the employees who had completed 25 years of service, he was very kind to me and promised to give me an interview. Before that, I lost him.

　

In his demise it is not that corporate world in Tamil Nadu but the entire India Inc has lost a legend of industry and towering figure in Indian family business.

Born on August 24th,1934, Sivasailam was the elder son of S. Anantharamakrishnan, a pioneering industrialist of his times.). He took over the mantle from his father at a young age in 1968 and successfully transformed the group into a top industrial house in the country. He is known for his astute, quiet, and very supportive leadership qualities besides his concern for the welfare of employees and environment.

Spic Chairman, A C Muthiah has said, " I have lost a wonderful friend. A very disciplined person, he was a man of ethics, few words. He has a left proud legacy worth following by gen next"

　

Leading auditor and ex- partner, Fraser & Ross, N Srinivasan said"Its a great loss for the family and me. He was a fine and a true gentleman. He was very humane and understanding. He was the person who developed the industrial empire after his fathers death."

In his poem on Sivasailam written in 2007 ( when Shri Sivasailam got Padmashree award) Srinivasan said, " A worthy son of a worthy father, well supported by equally worth brother ( A Krishnamurthy), Amalgamations group a shining example of promoters unity, third generation also webbed together in perfect harmony".

　

N Shankar – Sanmar Group – Chairman said " Sivasailam was one of the best known business personalities from Tamil Nadu. He took over the reins of the group at a very young age and built it up over the next few decades in to one of the leading industrial houses in India. He was a philanthropist and was involved with many management associations and other public bodies. I had worked with him closely in Madras Chamber of Commerce and Industry and Assocham and have learnt a lot from him".

Suresh Krishna, CMD, Sundram Fastners said "I have great respect for Sivasailam. He was a pioneer of Indian automotive industry, especially TN and and it is a great loss for the industry. Single handedly, he built Amalgations group companies around which several volcanos came up. This had helped TN to get a prominent place in the industrial map of India. Always a very soft spoken gentleman, Sivasailam was very forceful in his own way"

　

M V Subbiah,former chairman, Murugapa group " I am sorry to hear the demise of Sivasailam. He was doyen of the Indian industry and will be remembered by all for his values and principles. The industry has lost a great son and a noble human being"

　

His leadership of the Amalgamations Group was based on the business philosophy of the highest standards of Business Ethics, Integrity and Social Responsibility - something that his father had practiced assiduously during his time at the helm of affairs of the group. Even today, the group continues to subscribe ti this philosophy and continues to set benchmarks for responsible corporate citizenship and governance.

　

In the liberal era, focusing on core competence ( engineering and automobile), the group has emerged India’s largest light engineering group with 47 companies and 12,000 workforce. In 2003-03, its turnover was Rs 2500 crore, which had grown to Rs 7000 crore in 2009-10.

　

Sivasailam is soft spoken and unpretentious. Perfectly at home in a well tailored suit or a simple Dhoti and shirt ensemble, he is a unique combination of seasoned business leader, opinion maker, educator, philanthropist and family man.He is strongly advocated industry’s support for educating the masses.

He had underlined the the contributions made by leading Indian business houses like Tatas, Bajaj, Mafatlal, TVS, Shakti group, Karumuthu Thiagarajar group and PSG in the fields of education and urged others to follow their model

　

He said the fast growing and successful Indian IT companies, enjoying tax benefits and making high profits, can earmark a portion of their profits to support primary and school education and providing healthcare at affordable cost to underprivileged sections.

He suggested the Government, which is providing tax benefits to IT companies, could make it mandatory for them to earmark a part of their profits to support these efforts.

He said Infosys Founder, N Narayana Murthy and his wife Sudha Murthy have taken the lead to support the cause of education and it is worth following by more companies in the IT sector.

Similarly, Sivasailam referred to several stock broking firms and FIIs, who have no roots in the country but making huge gains out of their trading and investment in stock market. It should be made mandatory for them to earmark a part of these earnings to support education and healthcare facilities.

　

Sivasailam referred to the significant changes taking place in management which he felt were largely due to technological advancement and development of democracy.

Talking of changing values, he said encouraging speculative investments by means of policies affect the interest of small investor and middle class. Similarly, a credit based approach to development raises the question of long term sustainability as has been evidenced in the recent global economic down turn.

Stressing the need for fostering national interest in global competitiveness, he said policy makers need to more sharply focus and ensure that in the current shifting scenario, national interest is not forgotten. He also stressed the need for governance at all levels including Government.