Kanika Datta
The flutter of interest and comment over Anshu Jain's candidacy for the top job at Deutsche Bank highlighted just how much India Inc loves to applaud every time any businessman or executive of Indian origin makes it to the top in the developed world.
The fortunes of Lakshmi Mittal, baron of the world's largest steel empire, Arun Sarin, who headed Vodafone from 2003 to 2008, Citigroup's Vikram Pandit and PepsiCo's Indra Nooyi, to name a prominent few, are closely covered by the Indian media and celebrated on muscular patriotic websites such as iloveindia.com.
. . .Indians as global CEOs: Is it a real triumph?
Image: Ajit Jain.For the most part, this is a harmless, even touching, past-time. In the midst of the rack and ruin of our urban environments and the very public embarrassment in the run up to the Commonwealth Games, such warm, fuzzy nationalism allows us to wallow in reflected pride and in the notion that, despite the odds, Indians can succeed in the tough, competitive world of global business where it is suspected that prejudices override objectivity. Is this vicarious self-esteem justified?
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Indians as global CEOs: Is it a real triumph?
Image: Michael Duke.This is certainly true of the 20 largest companies. Wal-Mart, the world's largest firm, for instance, is headed by an American, Michael Duke, and Chinese companies Sinopec and State Grid (the world's seventh and eighth largest, respectively) have Chinese nationals as CEOs.
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Indians as global CEOs: Is it a real triumph?
Image: Vikram Pandit .Indians as global CEOs: Is it a real triumph?
Image: Howard Stringer.Indians as global CEOs: Is it a real triumph?
Image: Indra Nooyi.That's because most Indian-origin corporate chiefs may have been born and educated in India up to a point, but it is in the first world that they have honed their managerial and business skills and it is from these environments that they draw their expertise.
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Indians as global CEOs: Is it a real triumph?
Image: Vikram Pandit.Photographs: Reuters.
He cut his teeth in high finance first, in Morgan Stanley in the early eighties, during the demand boom for quants, and later with Credit Suisse. Despite facing what New York magazine described as "subtle cultural biases", Pandit's rise to prominence in the world of global finance was an entirely American experience.
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Indians as global CEOs: Is it a real triumph?
Image: Indra Nooyi.Since 1978, though, her experience of the business world is entirely global, first via a Master's degree from Yale and later through positions in Boston Consulting Group, Motorola and Asea Brown Boveri (it is easy to see why she was thought to be in the race to succeed Ratan Tata).
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Indians as global CEOs: Is it a real triumph?
Image: Shri Ram College.Berkshire Hathaway's Ajit Jain worked for IBM in India before it exited during George Fernandes' anti-multinational rampage and then developed a career in McKinsey before moving to Berkshire.
. . .Indians as global CEOs: Is it a real triumph?
Image: Jaspal Bindra, Group Executive Director and Chief Executive Officer ( Asia), Standard Chartered.That will be a signal that India has truly integrated in the global business milieu. Some are already half-way there by heading up Asia-Pacific arms of multinationals (such as Stanchart's Jaspal Bindra).
But if - purely as examples - the shortlist of possible worldwide chiefs for Ford and Microsoft were to include, say, Tata Motors' Telang or Infosys' Gopalakrishnan, Indians can truly claim a triumph of their own.
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