Business Today 24 September 2017

The very wealthy are extremely efficient at keeping their exact net worth out of public glare. Using trusts, limited liability partnerships and other such legal structures, the rich manage to not only grow their wealth but also keep their net worth out of scrutiny of jealous rivals, pesky journalists and tax-happy governments. In general, most billionaires in India (and globally) are likely to have a vastly higher net worth than what is calculated by the various lists that come out periodically. But while it is impossible to say with any degree of accuracy how rich the seriously rich are – or even how many dollar multimillionaires and billionaires are there around the world or in India – some broad numbers are available. The Credit Suisse Research Institute’s Global Wealth Report…

Emerging Companies Are Quite Impressive This refers to your lead story Vaulting to the Big League (September 10). This inclusive project on mid-sized Indian companies has accommodated the rising scale of companies in agriculture and brought forth the successful attitudes of the entrepreneurs. It indicated that Indian entrepreneurs are second to none. In manufacturing, they have cashed in on customer preferences. In services, the localised approach has helped. In agriculture, value-addition to agroproducts and commercialisation of improved rice has given rise to new business verticals. Though agriculture is the predominant occupation in India, it is not bestowed with suitable policy interventions causing productivity concerns and forcing untold misery in farming. These industrialists have taken timely and right decisions on issues of importance in creating new businesses. The winners are impressive…

STAY CONNECTED WITH US ON www.facebook.com/BusinessToday @BT_India PERSPECTIVES Can Diamond Change the Future of ICEX? There is a big scope of growth which opens an entirely new market for the diamond players, says Sanjit Prasad, MD & CEO of ICEX businesstoday.in/icex-diamond Why New AI Chief’s appointment Is Going to Be Pointless Bansal’s tenure – just for three months – is a too short period to make any significant contribution to the ongoing disinvestment plan businesstoday.in/ai-bansal Rlys Minister Prabhu Is Also Paying the Price for Bringing Reforms Most of the railway accidents are happening because of the legacy issues, not because of laxity. Will exit of Prabhu help in reducing the number of accidents and deaths? businesstoday.in/mishaps-prabhu Unending Worries in Tata Steel Europe- ThyssenKrupp Merger The German trade unions want steel…

$58 billion Losses in Texas from Hurricane Harvey. This makes Harvey the world's 9th most expensive natural disaster since 1900. SETBACK FOR ISRO, LAUNCH UNSUCCESSFUL The launch of India’s latest navigation satellite onboard a polar rocket failed following a technical glitch prior to its scheduled orbiting in space. The rare setback for ISRO involving the workhorse rocket, a polar satellite launch vehicle, came shortly after a perfect lift off of the PSLV C-39 from the Satish Dhawan Space Centre. SAAB, ADANI TO PARTNER FOR SINGLE-ENGINE FIGHTER JETS Sweden’s Saab plans to tie up with the Adani Group to bid for a contract to make fighter aircraft in India, according to a media report. The two will compete with Lockheed Martin. India's armed forces are looking to acquire single-engine jets that…

6-7 SUSTAINABLE GROWTH WHAT: 12TH CII SUSTAINABILITY SUMMIT WHEN: 6-7 Sept, Delhi WHAT TO LOOK FOR: The 2030 Agenda for Sustainable Development adopted in September 2015 is a key inspiration and opportunity to reshape the economy. There will be several tracks on Climate Change, CSR, Digital inclusion, Responsible Businesses and Circular Economy. 15 BUILDING SKILLS WHAT: GLOBAL SKILL SUMMIT 2017 WHEN: 15 Sept, Delhi WHAT TO LOOK FOR: Many drivers of transformation currently affecting industries are expected to have a significant impact on jobs, from job creation to job displacement, and from heightened labour productivity to widening skills gaps. The 10th edition of the Global Skill Summit will take a deeper look at automation potential in the global workplace and its impact on employment and productivity. 6 GENDER DIVERSITY WHAT:…

The stratospheric rise in the number of people travelling on scheduled commercial airlines during the past two years has started to taper off. Domestic passenger traffic growth has slowed to below 20 per cent for the past five consecutive months over the corresponding months last year. For instance, in July this year, annual growth in passenger traffic stood at 17.18 per cent. In comparison, for 17 of the 24 months of 2015 and 2016, growth was above 20 per cent, reaching a peak of 29.31 per cent in July 2015. No doubt growth continues with the number of passengers flying in recent months higher than in any given month in 2014, 2015 or 2016. But the slowdown in the rate of growth is a cause of concern. Globally, the aviation…