Why WSJ?
November 20th, 2009|
So, finally the cat is out of the bag. It was time anyway. The formidable old oak in Bombay House is getting ready to hang his boots. In an interview to Wall Street Journal last week, Ratan Tata dropped the ball when he said his successor could be from anywhere in the world — within or outside India’s oldest and probably most respected business house. Twenty four hours after the media around the world pounded this piece of news to death, something hit me very gradually. Why did he tell WSJ first? After all there is no dearth of media in India. In fact we have way too many. Then why did he choose to give this juicy piece of news to a foreign media house when any reporter in India worth his salt would have made his name over this page one story?
A credible answer to this question can be given by only Mr Tata himself. I doubt if he will bother doing it. Well, he doesn’t have to. But that should not stop us from making some guesses (intelligent or otherwise). This is not the first time Tata has played such an innocent mischief on the Indian media. In March 2003, in an interview to the Financial Times (in the UK) Tata made public his wish to build a Rs 100,000 car, which six years later became the world famous Tata Nano. Now his retirement plans including the possibility of an expat successor has been handed over on a silver platter to WSJ.
Some of you may dismiss this as a news reporter’s constant whining for not having got the news his competitor did. I would be lying if I said I did not feel the pangs of jealousy. Who wouldn’t? But the more important question is does Ratan Tata trust the Indian media to handle such sensitive news? Does he think the entire Indian media is irresponsible and too trigger-happy for his taste?
Such a generalisation would be a dangerous habit. But for someone who commands a $71 billion business empire, with 65 per cent of the turnover coming from outside India, it is only a fail-safe approach to trust a reputed foreign media brand to take some sensitive news to the public and more so to investors. I am not naive to believe that Tata was talking to the Indian public when he gave the interview to WSJ. I think he was specifically talking to the investing community worldwide. He was telling investors from New York to Shanghai (and probably Mumbai on the way) that the Tata Group is a truly global company now and is ready to join the league of General Motors (bad example today, yet), Microsofts, Intels and Wal-Marts of the world. The heads of these companies are chosen without looking at their place of birth place, their skin color or gender.
The WSJ (or FT) provides the kind of platform that will be an ideal lighthouse to signal the story to a worldwide audience. Theoretically it could have had the same impact if the news was broken by The Economic Times or Business Standard in India. But then that is just theory. “Let me be reasonable here and take no chances,” Tata must have thought. “I gave the Nano story to a paper east of Atlantic and this one I will give it to one on the west. After all I need to be fair,” he might have thought. A PS to this thought could have been, let my successor worry about the Arabian Sea, Indian Ocean and Bay of Bengal.
I think there is another side to this story. I hate saying this, but someone has to. Switch on the TV in India and what do you see? Popular media portrays itself as petty minded, irresponsible and outrageously stupid. The lowest I have seen is a live telecast of “encounter killing!” There are few gems in Indian media but too few and they are too small. Print media? Ask yourself, when was the last time you opened a paper in India and felt a certain level of independence and even a mild sense of comfort that you are holding a paper that stands for democracy which is independent of the government that holds the power or some shady corporate house that bank-rolled its last elections. Frankly I can name a couple of such papers, but these days they provide news a bit too late to be called a newspaper. If I was a media baron I would introspect very seriously. Make a very genuine attempt to provide a credible alternative to what is called popular media in India. And then hope that Ratan Tata’s successor will talks to me or one of my reporters when he ready to hang his boots. |






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