 Shiv Nadar ....the 'rich o
rich'Bio-Data
Name: Shiv
Nadar
Age
: 53
Marital
Status: Married
Net Worth :
$(US) 1.2 billion
Company :
HCL Group(Infotech)
Based at :
Delhi,USA
| 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.
|
