It was very nice to read about the problems faced by him before 1991. If people can read between the lines, it was because of people like him that things that were not manufactured in India and are now being manufactured in India itself. He was a visionary who went in for foreign collaboration at that time. hats off to him.
He created so many jobs which in turn helped the local Tamilnadu economy which in turn contributed to India economy. Being a citizen of India it helped me also.
I am an Ex-Sanmar employee and I can say that it was truly the best place for any Young Engineer to start his/her career with. I had the best boss and worked with some amazing people. I have moved on to work at various companies in various countries, but I can say that I am yet to find a place that is as good as Sanmar. Before I hang up my boots, I hope I will return to work for this wonderful company!!!
Re: Hats off
by vishal.galvankar vishal.galvankar on Dec 16, 2010 08:53 PM
You will never reach there..by scratching boundrys..Tamilian!!.. he established world wide..but u seee his tamil factor only ..I pt you
Re: Hats off
by Frank Barone on Dec 16, 2010 09:33 PM
This article described so many qualities of this great entrepreneur but you could notice just his Tamilian background. Pity you...
Mr Sankar seems to have both the qualities of Academic Brilliance and Sharp Commercial Brain as could be made out from the zero effluent discharge of his three plants as well as the instant profitability of Chem Plast from the very 1st year onwards.The Corporate Culture also seems to be good due to very low attrition rate as evidenced by employees sticking along with him for more than 30 years.The last but not the least that impacted me is his humblenes in paying tributes to his mentor Mr Ramaswamy at the start of his career.May his tribe flouri sh for a Better India.
good article by rediff. well done by Sanmar group. must have been very difficult pre-liberalisation.customs raiding for $5 blade shows how stoopid govt regulations were.
still we have quite long way to go though as bureacracy and incompetent govt are are biggest probs
Re: good
by R Balasubramanian on Dec 16, 2010 06:24 PM
import licence at that time costs USD 5500 but now a very meager Rs.250.00. Now samples by exporters can be imported free of duty to the tune of Rs.3 lacs. The country owes its respect to PVN who was instrumental in liberalisation but the congress seniors showed their original colours by not attending his last rites. The pathetic was, his half burnt body was left uncared even by his own son.
Re: Re: Re: good
by Rahul R on Dec 18, 2010 05:11 PM
Yes, they had Overseas Sanmar Financials Ltd and its broking subsidiary Sanmar Securities Trading Ltd, which have been sold.
Re: Re: Re: good
by Balan Iyer on Dec 16, 2010 06:46 PM
Yes Balas,when the country was going down the drain due to the moth eaten policies of Nehru-Gandhi Socialism,he was instrumental in arresting it by ushering in Liberalisation. But the result was,PVN was slapped up with corruption charges and Nehru-Gandhi Fam ily is getting all the Credit for whatever good is happening in the country.
Re: Re: good
by Maximus Meridius on Dec 17, 2010 06:24 AM
Factually, PVN Rao and Manmohan Singh had no choice but to go down the liberalization route. India was verging on default with a precipitous forex reserve (I think I recall reading something like 1-2 months worth), and defaulting could mean getting cut out of the international debt market for a long time (see Argentina). So, INdia went to the IMF for a bail-out. The IMF bailed INdia out, on the condition that India join the WTO, liberalize it's economy etc. Back then, the BJP had a swadeshi agenda and were screaming hoarse about selling out the country to foreign imperial forces. We all know what happened after that: The BJP, upon assuming power, pushed disinvestment even more than the cong government before them.
Neither PVNR nor MMS are the architects of INdian globalization. The IMF deserves immediate credit, and of course rotten fiscal policies of earlier regimes such as under Rajiv Gandhi, VP Singh and Chandrashekhar that put us in a position where we had to go begging to the IMF for a bail-out. It was the right decision in hindsight, but was made with a gun held to our head.
