|
 Shiv
Nadar, 53 years of age heads the US$ 1.2 billion HCL
Group based at Delhi & US.
Forbes has
released its list of world's richest persons and seven
Indians have found a place in it . The new entry in the
`Forbes’ list is a man who began, as `Forbes’ put it, by
making computers in his garage 24 years ago. The man is
Shiv Nadar, chief of HCL, a company
`Forbes’ describes as India’s largest infotech conglomerate.
Mr Nadar’s net worth has also been put at $1.2 bn. Two of
the seven richest Indians are in the infotech business.
People who know
Shiv Nadar call him Magus, Persian for wizard. His wizadry
was evident in the way Shiv Nadar (53) worked his way. He
transformed HCL corporation one of the top most firms making
computers and office equiment.
Moving to Delhi
from Tamil Nadu in 1968, Shiv Nadar worked as an engineer
with DCM Ltd. Keen on starting on his own he made six of his
colleagues to join him to launch a firm making office
products like copiers. Into the vacuum created by IBM
quitting Indian HCL stepped in to supply computers and by
1982, HCL came out with its first computer.
Now over 80% of
HCL's revenues are from computers and office equipment.
While concentrating on growth at home, HCL has also been
spreading its reach overseas. Its Singapore subsidiary, Far
East Computers, recently achieved a breakthrough in imaging
technology, which, among other applications,enables
computers to read handwritten tax returns.Singapore's
Internal Revenue Service uses Far East software.
In the U.S, a
software subsidiary, HCL America, has reaped rich benefits
by taking advantage of global time zones. Every morning, the
company's Madras office receives software assignments from
the U.S, just after work stops there for the night. A team
of Indian engineers, with salaries much lower than those of
their American counterparts, complete the jobs and modem
them back in the evening.
Far East and HCL
America account for almost 20%
of HCL Corp.'s annual revenues. Once he makes up his mind
about a project, he picks a team, then leaves it alone to
get on with the job. In February 1997, TIME magazine wrote:
"The world has caught up with Nadar's vision of a networked
future, and the results are shaking up enterprises,
economies and government around the world". He attributes
the Group's success to teamwork and the entrepreneurial
spirit, which together have enabled it to handle rapid
change in environments and technologies, and to transform
threats into opportunities. |
