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<ul><li>This year will likely be remembered for marking its emergence as the world's most populous nation.</li><li>By 2050, the UN expects <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> will have 1.6 billion residents and China 1.3 billion.</li><li>A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics.</li></ul> If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report. "In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote <keyword id="15992875" type="General" weightage="50" keywordseo="shigesaburo-okumura" source="Orion">Shigesaburo Okumura</keyword>, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. This year will likely be remembered for marking its emergence as the world's most populous nation, Okumara wrote. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion. In July, the UN forecast that China's population would fall in 2023 while India's would surpass it. By 2050, the UN expects India will have 1.6 billion residents and China 1.3 billion. A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics, Okumara said. Moreover, decoupling between the US and China and the rebuilding of technology supply chains to exclude China benefits India. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> is building iPhone 14s in India. <keyword id="292865" type="General" weightage="50" keywordseo="natarajan-chandrasekaran" source="Orion">Natarajan Chandrasekaran</keyword>, chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, has talked of plans to produce semiconductors in the subcontinent. In March, India will host the plenary session of the <keyword id="833063" type="General" weightage="50" keywordseo="trilateral-commission" source="Orion">Trilateral Commission</keyword> for the first time. This year, it is also chairing the Group of 20, a role that will involve a leaders' summit and many ministerial meetings. The Modi government will be eager to show leadership ahead of India's own elections in 2024, Okumara wrote. "The new year thus could mark the beginning of a tripolar world, involving the US, China and India. New Delhi is undeniably on the rise," Okumara concluded. <keyword id="47256" type="General" weightage="50" keywordseo="challenges" source="Orion">Challenges</keyword>, however, are mounting for India's economy with the GDP forecast at a half-century low. Motilal Oswal Financial Services forecast in a note that after growing strongly for two consecutive years, India's real GDP growth would decelerate to 5.2 per cent YoY in FY24, while nominal GDP growth would weaken even sharply to 7-7.5 per cent, led by easing inflation. A combination of factors such as slower global economy, fading pent-up demand and normalising base effects would contribute to slower real growth. With an expected retail inflation print at just 4.3 per cent and a mere 1 per cent growth in the wholesale price index (<keyword id="46000" type="General" weightage="50" keywordseo="wpi" source="Orion">WPI</keyword>) in FY24, the GDP deflator could be around 2 per cent, dragging down India's nominal GDP growth to the lowest level compared to any year between the early 1970s and FY19 (that is, half-a-century pre-Covid period), the report said. Such slow growth rate would have some serious implications for the macro economy and financial markets. "Overall, we believe that unlike the past 12-15 months, the narrative will reverse in FY24. Inflation concerns will take a back seat and growth worries will resurface. This may be true not only for India, but also for the entire global economy. At the same time, restrictive monetary policy will fail to boost financial markets. Accordingly, CY23 could be very painful," the report said. Revenue of listed companies is highly correlated with nominal GDP growth (and WPI-inflation). In case of single-digit nominal GDP growth, corporate sales growth is also expected to weaken from an average of &gt;30 per cent YoY in the past seven quarters to single digits in FY24. With an expectation of weaker nominal GDP growth in FY24, we estimate India's debt growth to also weaken. Thus, bank credit growth could also moderate from 15-16 per cent in FY23 to 12 per cent in FY24 with a downward bias, the report said. As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm, according to a comprehensive new study by the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> in September. Several historical indicators of global recessions are already flashing warnings. The global economy is now in its steepest slowdown following a post-recession recovery since 1970. Global consumer confidence has already suffered a much sharper decline than in the run-up to previous global recessions. The world's three largest economies -- United States, China, and the Euro zone -- have been slowing sharply. The experience of the 1970s, the policy responses to the 1975 global recession, the subsequent period of stagflation, and the global recession of 1982 illustrate the risk of allowing inflation to remain elevated for long while growth is weak. The 1982 global recession coincided with the second-lowest growth rate in developing economies over the past five decades, second only to 2020. It triggered more than 40 debt crises and was followed by a decade of lost growth in many developing economies, the World Bank said. India's current account deficit expectedly swelled to a 37-quarter high of $36.4 billion (4.4 per cent of GDP) in Q2 FY23 from $18.2 billion in Q1 FY23 (2.2 per cent of GDP). The resulting net balance of payments (BoP) position registered a deficit of $30.4 billion (3.7 per cent of GDP), its weakest since the 2008 global financial crisis, compared to a surplus of $4.6 billion in Q1 FY23, Acuite Ratings said. Amid an uncertain geopolitical environment and slowing global growth, however, risks will remain on both current account balance and capital flows, it said. With excessive demand supply disparities, bloated supply chain management and battle against inflation weighing down on global economic growth, the New Year started on a gloomy outlook as IMF predicts global GDP growth topping at 2.7 per cent, narrowly escaping recession, Nuvama Professional Clients Group said in a note. The economy has been supported by sturdy domestic demand as indicated in GST collections and consumer spending. However, the industrial output contracted by 4 per cent YoY in October, the worst in over two years, hobbled by the drop in orders from western markets and weak investment at home, the note said. Standard Chartered said in a report that 2023 global macroeconomic backdrop is likely to be challenging given the heightened risk of a slowdown as lagged effects of monetary policy tightening leads to a weaker demand scenario and lower corporate earnings performance. As the monetary policy rate cycle peaks amid receding inflationary pressures in the second half of the year, risk sentiment could improve with the growth outlook stabilising. "In our assessment," the bank noted, "India's growth-inflation dynamics is stable and better than its peers." The post-pandemic economic recovery cycle remains strong amid supportive government policies and a pick-up in investments. Further, the likely broadening of the rural economy's recovery and of the service sectors is a strong tailwind, the note said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-startup-economy-stares-at-deepening-funding-winter-in-2023/articleshow/96807902.cms">India's startup economy stares at deepening funding winter in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ar-rahman-unknown-facts-about-about-indian-composer-and-oscar-winner/articleshow/96793884.cms">AR Rahman can leave dinner midway if inspiration strikes &amp; other anecdotes about the reticent music maestro</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-mulls-2nd-covid-booster-even-as-coverage-of-first-dose-remains-feeble/articleshow/96792098.cms">India mulls 2nd Covid booster even as coverage of first dose remains feeble</a>

India could emerge as the third pole despite GDP growth worries say experts

Tata Sons executive chairman <keyword id="97017" type="PERSON" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> has purchased 1 lakh shares of <keyword id="6370462" type="DOMAIN" weightage="20" keywordseo="tata-communications">Tata Communications</keyword> from secondary market, according to a regulatory filing. "We have received an intimation from N Chandrasekaran , executive chairman, <keyword id="8928715" type="COMPANY" weightage="20" keywordseo="tata-sons-private-limited">Tata Sons Private Limited</keyword> regarding his purchase of 1,00,000 equity shares of <keyword id="628844" type="COMPANY" weightage="20" keywordseo="Tata-Communications-Limited">Tata Communications Limited</keyword> at an average price of Rs 249.15, excluding brokerage and STT, per share as on March 16, 2020," Tata <keyword id="6379089" type="UNKNOWN" weightage="20" keywordseo="communications">Communications</keyword> said in a BSE filing. Shares of Tata Communications closed at Rs 226 a unit, down by 7.92 per cent compared to previous close, at BSE on Wednesday.

Tata Sons chairman N Chandrasekaran buys 1 lakh shares in Tata Communications

<ul><li>The Chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>, <keyword id="292865" type="PERSON" weightage="20" keywordseo="Natarajan-Chandrasekaran">Natarajan Chandrasekaran</keyword>, has joined the list of international leaders like Bill Gates, Richard Branson, Narendra Modi, Priyanka Chopra and Kiran Mazumdar Shaw as a LinkedIn influencer. </li><li>He engaged over 62 million Indian users on the professional networking platform — majorly around the technological developments. </li><li>He was the CEO and managing director of IT major <keyword id="6357585" type="DOMAIN" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>) for 30 years.</li></ul>The Chairman of Tata Sons, Natarajan Chandrasekaran, has joined the list of international leaders like Bill Gates, Richard Branson, Narendra Modi, Priyanka Chopra and Kiran Mazumdar Shaw — to become a LinkedIn influencer. Chandrasekaran, who joined <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> as an intern in 1987 engaged over 62 million Indian users on the professional networking platform — majorly around technology developments. “Business opportunities, cutting across sectors, can be realised through engaging discussions and meaningful collaborations. The potential on the platform for continuous learning, experience sharing and lateral thinking is very exciting,” Chandrasekaran said. In his debut article, he highlighted how the shift from ‘shareholder capitalism’ to ‘stakeholder capitalism’ can help companies foster trust and inclusion. You don’t chase a title, you chase a dream: Chandrasekaran Chandrasekaran was the CEO and managing director of IT major Tata Consultancy Services (TCS) for 30 years. He told LinkedIn that he enjoys his profession, everyday. “You don't chase a title. You chase a dream. If you have an aspiration and a purpose and then you give it all you got, I think you'll be surprised. You will far exceed what you dream about,” Chandrasekaran said while talking about his achievements as a part of Tata Group. He also ran in the Tata <keyword id="45545" type="ORGANIZATION" weightage="20" keywordseo="Mumbai-Marathon">Mumbai Marathon</keyword> on Saturday. “I think there are days in which you feel more pressure. But most of my career, I felt that I’ve had a very enjoyable profession because my job at TCS for 30 years saw me learning a lot of technology and also meeting with different customers, industries, and traveling around the world,” he said. In his latest post, he talked about his upcoming book ‘‘Bridgital Nation’ — which revolves around emerging technologies and the country’s employment and economic crisis. “India is troubled by ‘twin challenges’. People want good jobs but don’t have the means to acquire them, and there are people in need of services that are out of their reach. He believes combining people with technology can be the best way to upskill and close the gap,” he told LinkedIn. He also talks on automation, employment scenario, and India’s economic situation. See also: <a href="https://www.businessinsider.in/business/corporates/news/tata-sons-challenge-nclat-order-that-reinstates-cyrus-mistry-as-its-chairman/articleshow/73066195.cms">Tata Sons hurries to challenge NCLAT order that reinstates Cyrus Mistry as deadline looms large</a> <a href="https://www.businessinsider.in/business/news/tata-sons-says-the-court-gave-cyrus-mistry-more-than-he-wanted/articleshow/72872657.cms">Tata Sons says the court gave Cyrus Mistry more than he wanted</a>

Tata Sons Chairman N Chandrasekaran has something in common with Bill Gates, Narendra Modi and Priyanka Chopra

<keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> on Wednesday asked all group employees to stay focussed on their businesses and welfare of stakeholders in wake of the NCLAT order that raised issue of his appointment as Executive Chairman of the company. In a message to the employees of the group, Chandrasekaran said Wednesday's "NCLAT ruling, which apart from other things, raises issues on my appointment as Executive Chairman of Tata Sons". He further said, "Tata Sons firmly believes in the strength of our case and will pursue the appropriate legal recourse".
 Going forward, he further said, "I assure you that we have set ourselves on a course that will make the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> stronger and more vibrant than it has ever been before. I urge all employees to stay focussed on their businesses and the welfare of our stakeholders". Chandrasekaran said ever since he was asked to take on the role and responsibilities of Executive Chairman in February 2017, "our efforts have been primarily focused on: restoring stability and moving decisively towards a healthier financial position; conducting our businesses with the highest ethical standards, which the group has been known for over 150 years".
 He further said "honoring our commitments to all stakeholders and resolving outstanding issues; driving growth and transforming our businesses for the future" were also equally important issues. 
 "We will continue to work towards deepening the legacy of this unique institution," Chandrasekaran said.
 The NCLAT on Wednesday ordered reinstatement of ousted Chairman <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>, while ruling appointment of Chandrasekaran as illegal. See also: <a href="https://www.businessinsider.in/business/news/tata-sons-says-the-court-gave-cyrus-mistry-more-than-he-wanted/articleshow/72872657.cms">Tata Sons says the court gave Cyrus Mistry more than he wanted</a> <a href="https://www.businessinsider.in/business/news/tata-group-stocks-fall-after-nclat-allows-cyrus-mistry-to-return-as-its-chairman/articleshow/72869261.cms">Tata Group stocks tumble after Mistry's legal win casts a shadow on the conglomerate's hallowed reputation</a> <a href="https://www.businessinsider.in/business/corporates/news/cyrus-mistry-warning-to-ratan-tata-on-jlr-tata-motors-airasia-and-telecom/articleshow/72873129.cms">Cyrus Mistry was proven right on at least four of his warnings to the Tata Sons Board even before the latest court ruling</a>

Chandasekaran writes to Tata employees; asks them to focus on biz, stakeholders' welfare

New Delhi, India's top billionaires, including Gautam Adani and Sunil Bharti Mittal, mega stars from film industry such as Amitabh Bachchan and Shahrukh Khan and cricketing icons from Sachin Tendulkar to M S Dhoni are among those invited for pre-wedding celebrations of Mukesh Ambani's youngest son, Anant early next month. Ahead of the wedding ceremony in July, guests from around the world have been invited to three-day pre-wedding festivities beginning March 1, at Gujarat's Jamnagar, which houses Ambani's mega oil refineries. Anant Ambani, the youngest of the three children Mukesh Ambani and Nita Ambani have, is set to marry Radhika Merchant - the younger daughter of <keyword id="20720133" type="General" weightage="20" keywordseo="viren-merchant" source="keywords">Viren Merchant</keyword>, CEO of Encore Healthcare, and entrepreneur Shaila Merchant. With Jamnagar not having five-star hotels, ultra-luxury tents housing best of facilities, including tiled bathrooms are being erected for the guests. The guest list includes international business leaders like Meta CEO Mark Zuckerberg, Microsoft founder Bill Gates, Alphabet CEO Sundar Pichai, Adobe CEO Shantanu Narayen, Walt Disney CEO Bob Iger, BlackRock CEO Larry Fink, Adnoc CEO Sultan Ahmed Al Jaber, and EL Rothschild chair Lynn Forester de Rothschild, sources said. Indian business magnates invited include Gautam Adani and family, Tata Sons chairman Natarajan Chandrasekaran , Aditya Birla Group Chairperson Kumar Mangalam Birla, and his family, Godrej family, Infosys chairman Nandan Nilekani, RPSG Group head Sanjiv Goenka, Wipro's Rishad Premji, banker <keyword id="19998917" type="General" weightage="20" keywordseo="uday-kotak" source="keywords">Uday Kotak</keyword>, vaccine maker Serum Institute of India CEO Adar Poonawalla, Airtel chairman Sunil Mittal, Hero's Pawan Munjal, Roshni Nadar of HCL, Zerodha co-founder Nikhil Kamath, entrepreneur Ronnie Screwvala and Sun Pharma's Dilip Sanghi. Top cricketers, including Sachin Tendulkar and family, MS Dhoni and family, Rohit Sharma, K L Rahul, Hardik and Krunal Pandya and Ishan Kishan too are on the invitee list. <keyword id="19897820" type="General" weightage="20" keywordseo="bollywood" source="keywords">Bollywood</keyword> will be represented by mega stars Amitabh Bachchan and family, Abhishek and Aishwarya Rai Bachchan, Shahrukh Khan and family, Amir Khan, Salman Khan, Akshay Kumar and Twinkle Khanna, Ajay Devgn and Kajol, Saif Ali Khan and family, Chunky Pandey, Ranveer Singh and Deepika Padukone, Ranbir Kapoor and Alia Bhatt and <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> and Katrina Kaif. Madhuri Dikshit and Sriram Nene, Aditya and Rani Chopra, Karan Johar, Boney Kapoor and family, Anil Kapoor and family, <keyword id="19946417" type="General" weightage="20" keywordseo="varun-dhawan" source="keywords">Varun Dhawan</keyword>, Sidharth Malhotra, Shraddha Kapoor and Karisma Kapoor, Rajnikanth and family are are on the invitee list. The three-day-long event will be themed, according to 'Event Guide' sent to the invitees. Chartered flights have been arranged to ferry guests from Delhi and Mumbai to Jamnagar and back. Guests are expected to arrive by mid-day on March 1. Hollywood pop-icon Rihanna, along with Diljit Dosanjh and others, will enthrall the guests with their performances. Day 1 celebrations are called 'An Evening in Everland' where guests are expected to wear elegant cocktail attire. Day 2 will host 'A Walk on the Wildside' with 'jungle fever' being the suggested dress code. It is set to be held outdoors in the Ambanis' animal rescue centre in Jamnagar. The guests will then proceed to 'Mela Rouge' which will be a potpourri of desi activities and the guests will wear their favourite south Asian attires. For Day 3, two events - 'Tusker Trails' and 'Hashtakshar' are planned. The first event will be an outdoor affair where the guests will enjoy the natural beauty of Jamnagar and for the last and final event, they'll be dressed in 'heritage Indian Wear'. All the guests will be provided with personal laundry services, saree drapers and other custom assistance, the nine-page event guide said.

Billionaires to Bollywood: All invited to Anant Ambani's pre-wedding festivities

<keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> Chairman N. Chandrasekaran has been honoured with France's highest order of merit, Legion d'Honneur, for bolstering relations and building business between India and France. The award was conferred on Chandrasekaran, 59, on Tuesday at the Foreign Ministry in Paris by Minister <keyword id="14065140" type="General" weightage="50" keywordseo="catherine-colonna" source="Orion">Catherine Colonna</keyword>, Minister of Europe and Foreign Affairs. He was accompanied by his wife Lalitha and son Pranav. "<keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword> is a major player in the Franco-Indian partnership: I had the pleasure of presenting its CEO, on behalf of the President of the Republic, with the insignia of Chevalier de la Legion d'honneur. Dear Natarajan Chandrasekaran, you are a friend of France," Colonna tweeted after presenting the award. "Dear Natarajan Chandrasekaran, you are a true friend of France," Ambassador of France to India, Emmanuel Lenain tweeted. The Legion of Honour is the highest French order of merit, both civil and military. It was established in 1802 by Napoleon Bonaparte. France is one of India's largest scientific partners, with over 25 R&amp;D centres, 15 joint Indo-French research laboratories, and 500 collaborative projects in the country. There are currently 10 <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> group companies operating in France, according to Indo-French Chamber of Commerce and Industry (IFCCI) Director General Payal S. Kanwar. "The Tata family has deep-rooted ties with France right from JRD Tata who was half French and born in Paris to <keyword id="201933" type="General" weightage="50" keywordseo="simone-tata" source="Orion">Simone Tata</keyword> who was incidentally one of the founders of IFCCI. The recent historic order of 250 Airbus A320neos and A350s along with 800 Safran motors for Air India has further boosted business between both countries!" Kanwar wrote on her Instagram. Last year, Chandrasekaran got a five-year extension as the chairman of Tata Sons, the holding company and promoter of more than 100 Tata operating companies with aggregate annual revenues of more than $100 billion. He also chairs the boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, Tata Global Beverages, Indian Hotels Company and Tata Consultancy Services (TCS), of which he was chief executive from 2009-17. In addition to his professional career at Tata, Chandra was also appointed as a director on the board of India's central bank, the Reserve Bank of India, in 2016. He was appointed on the International Advisory Council of Singapore's Economic Development Board in 2018. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms">ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts</a> <a href="https://www.businessinsider.in/stock-market/news/five-reason-why-markets-will-not-run-up-further-from-here/articleshow/100294718.cms">Five reasons why markets will not run up further from here</a> <a href="https://www.businessinsider.in/business/news/indias-super-rich-will-double-in-numbers-to-1-6-million-by-2027-knight-frank/articleshow/100298454.cms">India’s super rich will double in numbers to 1.6 million by 2027: Knight Frank</a>

Tata Sons chairman Chandrasekaran bestowed with France's highest civilian award

<ul><li>Microsoft CEO and chairman <keyword id="276564" type="General" weightage="20" keywordseo="satya-nadella" source="Orion">Satya Nadella</keyword> received the <keyword id="6367604" type="General" weightage="20" keywordseo="padma" source="Orion">Padma</keyword> Bhushan award from the Indian Consul General in San Francisco.</li><li><keyword id="2045946" type="General" weightage="100" keywordseo="nadella" source="Orion">Nadella</keyword> was born in a family of professionals and now heads one of the few trillion-dollar companies of the world. </li><li>Nadella has been with Microsoft for nearly two-thirds of the company’s existence.</li></ul>Satya Nadella has an unassuming demeanor for a CEO of one of the few <a href="https://www.businessinsider.in/business/corporates/news/heres-what-it-takes-to-make-a-trillion-dollar-company/articleshow/94940917.cms">trillion-dollar companies in the world</a>. Now, this Hyderabad-born IAS officer’s son has received the Padma Bhushan, India’s third highest civilian award from India’s Consul General in San Francisco, Dr T V Nagendra Prasad. Nadella is the only third CEO of Microsoft after the company’s founder Bill Gates, and Steve Ballmer. He is credited with revolutionizing Microsoft’s cloud business, from lagging behind Amazon to bagging multi-billion dollar US Defense Department’s contracts. Nadella was appointed Microsoft’s CEO – the third in the company’s 47-year-old history – in 2014. Earlier in 2021, he was also appointed as the company’s chairman, making him responsible for setting the tone for Microsoft’s future. Nadella was awarded the Padma Bhushan along with other IT veterans – Tata Sons’ CEO Natarajan Chandrasekaran, and Alphabet CEO Sundar Pichai. Nadella says he will visit India in January next year, according to a PTI report. <cmsannotation type="cmsannotation" annotationid="Born in a family of professionals" comment="subhead" text="Born in a family of professionals">Born in a family of professionals</cmsannotation> Born in Hyderabad in 1967, Satya Narayana Nadella came from a family of professionals. His father, Bukkapuram Nadella Yugandhar, was an IAS officer while his mother, Prabhavati, was a Sanskrit lecturer. Nadella started his journey in one of Hyderabad’s illustrious schools, the Hyderabad Public School. Like many students, Nadella opted for engineering – he got his electrical engineering degree from Mangalore University in 1988. He went on to do his master’s in computer science from the University of Wisconsin in 1990. Nadella married Anupama Nadella in 1992, and has three children. Nadella’s journey sounds like a typical South Indian’s – an engineering degree and work for a tech company. Soon after finishing his master’s in the US in 1990, Nadella worked for Sun Microsystems for two years before landing a job at Microsoft in 1992. <cmsannotation type="cmsannotation" annotationid="Nadella’s Microsoft journey – from a developer to the chairman" comment="subhead" text="Nadella’s Microsoft journey – from a developer to the chairman">Nadella’s Microsoft journey – from a developer to the chairman</cmsannotation> Nadella’s rise to the top echelons of Microsoft started with him being scooped up by the Windows-maker from Sun Microsystems in 1992. Nadella joined the company as a Windows NT developer and from thereon, he rose in the ranks of Microsoft's divisions catering to businesses. In 2007, Nadella was appointed as the vice president of Microsoft’s research and development department. He was elevated as the president of the company’s server business in 2011, which accounted for $19 billion of the company’s revenue. In 2014, after being appointed as the CEO, one of his first moves was to acquire Nokia’s phone business for $7.2 billion – a move that would eventually falter. Under Nadella’s watch, Microsoft’s market capitalisation has surged over 5x – from $310 billion in 2014 to $1.76 trillion now. Nadella has remained with the Windows-maker for three decades now – or nearly two-thirds of the company’s history. The networth of Nadella is at ₹6,200 crore, according to IIFL Hurun India Rich List 2022. <cmsannotation type="cmsannotation" annotationid="Beyond Microsoft" comment="subhead" text="Beyond Microsoft">Beyond Microsoft</cmsannotation> Nadella’s life beyond Microsoft includes being a board trustee of University of Chicago and Fred Hutchinson Cancer Research Center. He is also on the board of Starbucks. Before being awarded the Padma Bhushan, Nadella was named on the Time 100 list in 2018, and businessperson of the year by Financial Times and Fortune magazine in 2019. Nadella also authored Hit Refresh, a book on his life and his leadership learnings at Microsoft, with Greg Shaw and Jill Tracie Nichols. <cmsannotation type="cmsannotation" annotationid="Other business leaders who’ve been honoured with Padma awards" comment="subhead" text="Other business leaders who’ve been honoured with Padma awards">Other business leaders who’ve been honoured with Padma awards</cmsannotation> The Indian government has awarded several business leaders with Padma awards. The list includes big names like Dr Cyrus Poonawalla, M&amp;M’s Anand Mahindra, TVS’ Venu Srinivasan, and Krishna Ella and Suchitra Ella, among others. Another notable person on the list is Ryuko Hira, a Japanese businessman who is known for playing a crucial role in bringing Japanese investments to India. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indian-students-going-abroad-to-face-a-triple-whammy-of-inflation-forex-and-interest-rates/articleshow/94974003.cms">Indian students going abroad to face a triple whammy of inflation, forex and interest rates</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a> <a href="https://www.businessinsider.in/finance/news/rupee-hits-record-low-of-83-06-against-us-dollar/articleshow/94978753.cms">Rupee hits record low of 83.06 against US dollar</a>

Satya Nadella hits refresh – from Hyderabad to Microsoft CEO to Padma awardee

The Reserve Bank of India on Sunday said lending institutions should assign zero% risk weight on the credit facilities extended under the Emergency Credit Line Guarantee Scheme to MSME borrowers announced by the government in the wake of COVID-19 pandemic. The government in May introduced the Emergency Credit Line Guarantee Scheme (ECLGS) for providing 100% guarantee coverage for additional working capital term loans (in case of banks and financial institutions) and additional term loans (in case of NBFCs) up to 20% of their entire outstanding credit up to Rs 25 crore as on February 29, 2020. The credit facility is guaranteed by the National Credit Guarantee Trustee Company (NCGTC). "As credit facilities extended under the scheme guaranteed by NCGTC are backed by an unconditional and irrevocable guarantee provided by Government of India, it has been decided that Member Lending Institutions shall assign zero percent risk weight on the credit facilities extended under this scheme to the extent of guarantee coverage," the RBI said in a notification. Lending institutions include, banks, eligible NBFCs and HFCs, and All India Financial Institutions (SIDBI, NHB, NABARD, EXIM Bank). In a separate release, the RBI said the central government has re-nominated Natarajan Chandrasekaran as a part-time non-official Director on the Central Board of Reserve Bank of India, for a further period of two years beyond March 3, 2020, or until further orders. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/only-5-of-the-governments-msme-emergency-loan-package-is-disbursed-after-a-month/articleshow/76437386.cms">Only 5% of the government’s MSME emergency loan package is disbursed after a month ⁠— private banks are sitting tight</a> <a href="https://www.businessinsider.in/business/corporates/news/bajaj-finance-share-price-and-earnings-expectation/articleshow/75751469.cms">Bajaj Finance’s quarterly earnings may not reflect the real potential for rebound⁠ after Sitharaman’s big push for MSME</a> <a href="https://www.businessinsider.in/india/news/fm-nirmala-sitaraman-announces-six-steps-for-msme-sector/articleshow/75717258.cms">Finance Minister Nirmala Sitharaman announces six measures for the MSME sector</a>

RBI tells banks to assign 'zero' risk for emergency loans to MSME

<keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, the former <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> chairman recently opposed the appointment of Natarajan Chandrasekaran as his successor and is said to be preparing to open another legal front challenging the decision 
 
According to the officials, a day before the board of Tata Sons met to consider Chandrasekaran as the chairman last week, Mistry shot off an angry letter to his fellow board members challenging the legality of the appointment. 
 
"Unlike the October board meeting when the decision to sack Mistry was not mentioned in the board agenda circulated before, this time the members were aware of what to expect. Mistry is still a director of Tata Sons and the agenda papers were circulated to him as well. That prompted the mail from him," an official aware of the communications, told ET. 
 
Reportedly, Mistry did not physically attend the board meeting the following day. 
 
Details of Cyrus' possible legal strategy could not be independently verified but for some this could be a potential precursor to a fresh complaint before the court. 
 Mistry has already challenged the decision in the <keyword id="6354457" type="ORGANIZATION" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword> (NCLT). In his petition, Mistry alleged collusion between Tata Sons and <keyword id="6383155" type="UNKNOWN" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword> and oppression of minority interests at the $103-billion Indian conglomerate. 
 
In his missive to the board members on January 11, Mistry argued that Chandrasekaran's appointment was illegal considering the matter was still sub-judice. Tatas after getting a green signal from their legal advisors decided to proceed with the board meeting. 
 "<keyword id="4078029" type="UNKNOWN" weightage="20" keywordseo="the-tata-sons-board">The Tata Sons Board</keyword> meeting held on January 12, 2017 and the appointment of <keyword id="97017" type="COMPANY" weightage="20" keywordseo="N-Chandrasekaran">N Chandrasekaran</keyword> as chairman of Tata Sons have been done as per the company's Articles of Association and relevant laws," a Tata Sons spokesperson told ET. 
 
Sources close to Mistry said that he was not comfortable attending the board meet since the Tatas had violated undertakings given by them in court. 
 
"At this stage, we do not wish to discuss next steps in terms of legal strategy," people close to Mistrytold ET. 
 
Tata Sons lawyer Abhishek Manu Singhvi said the tribunal's December 22 directives just meant that no legal action or proceedings could be undertaken by the company, Tata Trusts or the Mistry family firms. Tata Sons was, however, allowed to take company related decisions, he said. By filing the petition, the former chairman is trying to get the tribunal to stop Tata Sons from holding a planned shareholder meeting to oust him as a director, he claimed.

War intensifies: Cyrus Mistry is going to challenge Chandrasekaran's appointment as Tata Sons Chairman

Emphasising that there will "definitely" be pruning of the Tata portfolio, <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman Natarajan Chandrasekaran has said that the company will not exit a business "just to get a headline" but only when it is certain it is not getting returns from it, according to PTI. "Tata is already a $100 billion group. To get to the next level we need scale. We can't do it with multiple small companies. We need top companies. I am not saying specifically that all companies need to be No. 1 or 2 [in their sectors], but we need to have top companies," Chandrasekaran said in an interview to Fortune magazine. The magazine noted that Chandrasekaran, 54, is not ruling out selling off underperforming companies. "We won't exit a business just to get a headline. But we will exit if we aren't getting returns today and we don't think we'll get them tomorrow. I have thought a lot about this. We'll definitely prune the portfolio," the former Tata Consultancy Services (TCS) chief said. The report said Chandrasekaran's colleagues and investors hope he can transfer to the rest of the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata group</keyword> some of the "digital magic" he brought to TCS, where he tripled sales and profits during his seven years as CEO. "One of my key messages is that we're going to look at performance for every operating company--growth rates, profitability, return on capital," he said. "You can't perform if you're not fit. If you want to run a six-minute mile, you have to bring your weight down." The report said much of the House of Tata is in "urgent need" of renovation, with some of its biggest businesses growing sluggish and vulnerable to smaller, nimbler rivals. "Chandra has vowed to reorganize the group to focus on growth and scale. Tata's corporate roster is rife with opportunities for consolidation, with multiple companies competing in the same segment. Even veteran Tata executives are hard-pressed to explain why Tata <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword>, Tata <keyword id="100080" type="ORGANIZATION" weightage="20" keywordseo="housing-finance">Housing Finance</keyword>, and <keyword id="4799034" type="UNKNOWN" weightage="20" keywordseo="tata-capital-finance">Tata Capital Finance</keyword> operate as separate companies," the magazine said. Chandrasekaran took over as chief of the holding company of the multinational conglomerate in February. He is the first non-Parsi chairman of the 150-year old Tata Group. The report said Chandrasekaran isn't pushing significant changes to the reporting relationship with the trusts. "I am not briefing [them] on what we're doing with every single company. But they are the primary shareholder for the group. I don't think there is a conflict in keeping them informed," he said. On the group's Nano car, Chandrasekaran stresses that <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> will have other priorities. "Passenger car sales are small, and within that the Nano is even smaller. I don't think shutting down the Nano plant is a decision the team will make. "You know the corporate world. If you are asking if I feel like I have as much power as any other CEO, the answer is yes. But it's a process. It's not like I can get up in the morning and say, 'Hey, I want to exit financial services.' There's a discussion. I have a long conversation with the board. Every decision has to be thought through, explained to the management?...I'm pretty happy with the amount of freedom I have," he said. On prospects for Tata Sons' relationship with the Mistry family, Chandrasekaran said he cannot talk about the issue given that the matter is in the courts. "It's in the courts. I can't talk about it? I don't know much about the history. We'll let the court case come to its conclusion," he added.

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