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Claudia Cragg // The new Maharajas
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India, with a population of one quarter of the world's total, has an estimated 25 million individual investors, over 6,000 listed companies and a voracious appetite for capital. Entrepreneurial flair is endemic. The country is in the throes of an economic revolution, turning away from the Fabian socialism that has dominated since independence. Leading the way are the new maharajahs.
Local business is restructuring to meet global competition, and going all out to attract foreign business interest. By the turn of the century India is likely to have US$5 billion of inward investment, and it is already a market to be taken very seriously indeed.
The New Maharajahs provides an unrivalled picture of the powerful elite who, together with some non-resident Indians (NRIs), control many of the sub-continent's most powerful conglomerates including petrochemical giant Reliance, the huge Aditya Birla Group, the Thapar empire and the vast Hinduja group, stakeholders in Ashok Leyland, commercial vehicle manufacturers. Some Pakistani and Bangladeshi family companies are also included.
