N.S. Narahari the tycoon behind Deccan Aviation and Air Deccan is very happy with the government’s decision of permitting foreign equity to go up to 40 in domestic airlines. Thanks to this, Golden Ventures, a Mauritius based company will soon pick up 20 shareholding in the company for a consideration of Rs 18 crore. While the tycoon awaits approval from Jaswant Singh for the above, his eyes are on two more approvals that are in the waiting. First Naresh Chandra’s recommendations for a further hike to 49 via foreign equity stake and second the permitting of private domestic carriers to fly to South Asian countries, especially Sri Lanka. The magnate has already offered a 50 discount on fares, yet he has decided to slash them further. This has been done perhaps due to Narahari’s philanthropic nature — he wants to make air travel affordable to the common man, or because a 20 increase in air travel is expected from most markets, when there is a reduction in fare costs. To be an active part of the hot competition between Jet Airways, Indian Airlines and Air Sahara the tycoon will have flights operate on country-wide trunk routes from June 2004. For this purpose Narahari is in talks with Airbus and Boeing who he hopes will lease out at least four aircrafts of higher seat configuration than his present ones. Plans to use Delhi as a hub for flights to Agra, Amritsar, Dehradun, Jaipur and Udaipur and thus enter the North Indian market and later the international market are also on. Nothing can get Narahari down, for he is making all moves to remain flying high.

Infosys in China
IT icon Narayan Murthy has been busy. Fresh out of his Australian acquisition that he has renamed Infosys Technologies Australia Pvt Ltd. he has now opened a software development centre at Shanghai at an expense of 5 million. This centre employs 200 professionals and offers end-to-end software services to domestic as well as multinational companies operating in China as well as those of the Asia Pacific region. Murthy’s move has presented his company with a good grip in the rapidly growing Chinese market. Infosys will now be able to attain revenue from sources other than the US, which currently accounts for 60 of its income. China’s growing purchasing power makes it the largest market in the world for mobile phones and digital cameras, and the second largest for PCs after the US. Considering it is expected to spend 9.4 billion on technology services by 2006, Murthy has made a move in the right direction. Chain’s lower trade barriers, lower taxes and excellent infrastructure has enticed many Indian firms like TCS and Satyam Computer Services to set up their centres there, especially since it is through China that one can enter the presently unexplored market of Japan. After this dive into China, Murthy will head towards Africa, Latin America and Europe as well. Well the tycoon sure seems to be in the mood to conquer the world.

Dilip Cherian runs public relations firm Perfect Relations. Send your insider dope to dilipcheriannow-india.net.in