What a way to begin! The Y2K bug did not eat up computer data after all but the dotcom bubble bursts and the information technology and services industry take the world stage. Then, an Indian company acquires a global player. The closing years were no less dramatic: A truck-maker-turnedcarmaker unveils the world’s cheapest car shortly after it acquires a foreign major. The global financial system collapses but India’s banking system remains unscathed. As a recession sets in, India’s largest social spending scheme, based on a guarantee of work, begins to show that such things work if they are backed by law. BT profiles a handful of leaders and visionaries who defined the decade.

Ratan Tata, Chairman, Tata Sons
Trailblazer

He has sprung one surprise after another from mega acquisitions like that of Corus to prestige ones like Jaguar-Land Rover, to engineering dreams like the world’s cheapest car. He showed Indian industry that it can buy global companies, manage them and compete with the best. He made a truck-maker produce a passenger car, the Indica. Then came the Nano, which set new standards for the auto industry. The Nano has now inspired global car companies to see the Indian market and the small car as the future.

Mukesh Ambani, Chairman & MD, Reliance Industries
Getting Real, Getting Really Big

Mukesh admitted on camera in 2004 that he had ownership issues with brother Anil following the death of their father. He was ready to split the group into two to contain the damage caused by the feud. He then went on to take India closer to energy security when his company struck gas and oil in the Krishna-Godavari basin. He might just ink the biggest outbound deal from India by buying out Lyondell-Basell. He carried forward his father’s legacy of breakneck growth and rewarding shareholders.

Capt GR Gopinath, Former Chairman&MD, Air Deccan
Reach for the Sky

His low-cost carrier Air Deccan made flying affordable for the middle classes. He not only forced every airline to cut fares, even the railways started feeling the heat. He was pragmatic enough to know that he has been overtaken by the force he helped unleashed, and sold off Air Deccan to Kingfisher. He is attempting to replicate the Air Deccan model in air cargo.

Rakesh Jhunjhunwala, Partner, RaRe Enterprises
The Safe Bull

He believes that investment for long-term really rewards investors. He made retail investors believe that they can also make money in stock market. He made small-cap and mid-cap stocks the darling of Indian markets. Millions of retail investors believe he is India’s Warren Buffett.

B Ramalinga Raju, Founder and former Chairman, Satyam Computer Services (Now Mahindra Satyam)
The Tiger Rider

His fraud sobered up the Indian IT euphoria without damaging the brand. The Satyam flaws will spur a revamp of corporate laws and governance. Corporate circles today are discussing the need for a voluntary code, having more independent directors, greater focus on disclosures. He made audit firms relook their practices.

KV Kamath, Non-Executive Chairman, ICICI Bank,
Banker of the Decade

He turned ICICI into India’s second-largest bank, and groomed a young successor. He made the leap from the development finance model to a vibrant bank. He saw another big opportunity in the life insurance business, and scaled up other non-banking businesses like general insurance, mutual fund, private equity and securities. He handled the succession issue smoothly by grooming Chanda Kochhar, who has over 10 years to give to the bank.

Kishore Biyani, Group CEO, Future Group; and founder, Pantaloon Retail
Let There Be Retail

He was the first to bet on India as a big consumption country, and believed that spending by Indians will give a big boost to the economy. He brought mall culture to the doorstep of Indians and gave a better shopping environment and affordable products to the masses. Organised retail helped create more jobs and savings for consumers. Seeing his business acumen in retail, all big business houses have now entered organised retail.

Aruna Roy, Founder member, Mazdoor Kisan Shakti Sangathan (MKSS)
India Meets Bharat,

She has helped put in place institutional forms of governance. She was among those who spearheaded the right to information (RTI) movement. She is involved with the social audit aspects of NREGA. She represents the middle ground where India and Bharat can meet.

Jean Dreze, Honorary Professor, Delhi School of Economics
Hope for the Poor, Guaranteed

This Belgium-born Honorary Professor at Delhi School of Economics was the main architect of the NREGA, and is also one of its key observers. He is the only Indian development economist so well connected with the grassroots. He believed in inclusive growth before it became fashionable. His PROBE, or The Public Report on Basic Education (1999), remains a key reference document.

Ketan Parekh
Yesterday’s Big Bull

He revealed the loopholes in the system used to manipulate stock prices. His scam caused major stock market reforms to be implemented quickly without any protest. He was responsible for the collapse of Global Trust Bank and Unit Trust of India. He showed how tax havens and foreign entities can be used to invest in Indian stock markets.