Power sector may get longer tax holiday
Hothouse for global managers

Jamshedpur, Dec 9: 
The government may consider longer tax holidays for power projects to energise the sector. This was hinted at by N.K. Singh, the secretary in the Prime Minister’s Office (PMO).

At present, power projects get a tax holiday of 7 years which may be increased to 15 years, he said.

Singh was here today to attend the national council meeting of the Confederation of Indian Industry (CII). He said the CII meeting discussed ways to improve the competitiveness of Indian companies to make them stand the test of globalisation.

The meeting felt that manufacturing industries must strengthen their value-added services and increase their investments in research and development, Singh added. He stressed the importance of developing the country’s infrastructure to encourage foreign investment.

“The privatisation of the telecom sector, disinvestment in Air-India, construction of over 5,900 kms of road and initiatives in ports would definitely boost the country’s economic growth,” Singh said.

Social summit

The three-day social summit, sponsored by the CII, begins here tomorrow. Leading industrialists from all over the country will be present at the summit.

“Over the years, CII has been taking a number of initiatives in promoting social responsibility among corporates and a summit is yet another major initiative towards this objective. It would provide an ideal opportunity to devise strategies for fulfilling the nine-point charter for industry outlined by Prime Minister Atal Behari Vajpayee,” said Vijay Mehta, president, CII, Bihar chapter.


Calcutta, Dec 9: 
The cachet is the thing; and it comes at a price. When the International Business School at Hyderababd debuts next July, its 130 students — cherrypicked from an avalanche of applications that is expected from the four corners of the world — will have to cough up for $ 20,000 (about Rs 9.35 lakh, more if the rupee tumbles further) for the one-year post-graduate management course. The tuition fee is $ 15,000 (Rs 7.5 lakh) and the living expenses will amount to another $ 5000.

Let’s put that in perspective: the top management institutes in the country — the IIMs at Ahmedabad, Bangalore, Calcutta and Lucknow — charge about Rs 3 lakh for their two-year post-graduate courses.

So what is it that ISB has that the others don’t: for starters it’s formally affiliated with the Wharton School at the University of Pennsylvania and J.L Kellogg Graduate School of Management at Northwestern University, two of the best business schools in the world. Under the arrangement, the two institutions will share expertise and resources and forge a close partnership over the curriculum, admissions, faculty recruitment and exchange programmes.

Second, it will have a faculty that boasts management gurus like Sumantra Ghoshal, who is the dean of the school, who will be supported by an international academic council comprising 25 leading faculty members from top -ranked business schools of the world representing Kellog, Harvard, Wharton, Stanford, Chicago and London Business School.

There’s Philip Kotler from Kellog and David Schmittlein of Wharton and a clutch of celebrated Indian management gurus from these institutions such as Bala V. Balachandran of Kellog, Krishna Palepu, C.K. Prahalad from Michigan, V. Seenu Srinivasan from Stanford, Shyam Sundar from Yale, N. Venkataraman of the London School of Business.

The ISB officials have been going to different cities across the world to create greater awareness about the school and the courses it will offer. On Saturday, the bandwagon came to Calcutta where over 300 persons attended the familiarisation programme.

“Our first batch of students has got to be a super batch,” says Rajen Pal, executive director of ISB.

ISB has a governing board that bristles with some of the best-known names in the world of business: there’s Jurgen E. Schremp, chairman of DaimlerChrysler, Bernard Arnault, chairman of the luxury goods and liquor giant LVMH Moet Hennessy Louis Vuitton, Martin Broughton, chairman of British American Tobacco plc, Riley P. Bechtel, chairman of the Bechtel Group, Henry Paulson, chairman of Goldman Sachs, Sanjay Kumar, president of Computer Associates, Kenneth Lay of Enron, Cor Boonstra, president of Royal Philips Electronics, John J. Mack, president and COO of Morgan Stanley Dean Witter, and Martin Sorrell, chief executive of the advertising giant WPP Group.

There are a number of Indians who have made it big abroad including Lakshmi Mittal of the LN Mittal Group, Rajat Gupta, MD of McKinsey & Co, Rana Talwar, group chief executive of Standard Chartered, Purnendu Chatterjee of the Chatterjee Group, Vinod Gupta, chairman of InfoUSA, Vinod Khosla, general partner of Kleiner Perkins Caufield & Byers, one of the biggest venture capitalist firms.

There’s a fair representation from the bigwigs of Indian industry including Anil Ambani, Rahul Bajaj, Analjit Singh of Max India, Yogi Deveshwar of ITC, KV Kamath of ICICI, N.R. Narayana Murthy, Deepak Parekh of HDFC, and Rajendra Pawar of NIIT.

Another noteworthy feature of the ISB faculty is that it will frequently have renowned entrepreneurs from all over the world coming to teach from a practitioners’ perspective.

The rolling admission system has already started. The first deadline of October 15 is over and the second one is due on December 15 and third on February 15. Over 1,000 application forms worth Rs 500 each have already been sold and the selection committee has already started the process of elimination.

The eligibility for admission sounds simple. Any graduate with two years work experience can apply for admission. The ISB, however, has made some exception to toppers who had shown outstanding scholastic achievement in their graduation who could contribute to the student body in demonstrating leadership potential and, diversity without the work experience would be considered.

If you were thrown by the fat fee for the one year course, don’t break your heart. Financial aid in the form of loans are available for all students from Standard Chartered Bank, ICICI and HSBC which have special aid schemes. A limited number of scholarships are also available for outstanding students.


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