The contrast between the two speakers was striking -- Bajaj is candid while Chandra is reserved -- but both vehemently emphasise that to create Indian-owned multinationals, India must support its entrepreneurs. ``While the entire US government and its businessmen have joined hands to oppose Zee's takeover of ICO, a US company... in India same support is missing,'' Chandra said. After a pitched takeover battle, Chandra has recently bought over international media moghul Rupert Murdoch's stake for $ 300 million in its joint venture, Asia Today Ltd.

Agreeing with Chandra, Bajaj -- known for his `I Support India' views -- said all developed countries protect their own companies in `national interest', but in India multinationals are being given a free run. ``They will impose all kinds of anti-dumping and other sanctions to protect their interests, thus we should not hesitate to impose similar sanctions,'' he said. At the same time, he said, one should not be scared of competition which helps to improve efficiency and benefit consumers.

Ambitious Chandra, who has bid for the loss-making satellite telephony ICO said Indian intelligentsia, including the politicians and bureacrates must support Indian companies planning to go shopping overseas. ``We should not underestimate the potential of this country,'' he added.

``In the next century, Indian corporates must understand that it will be the consumer who would decide what to produce and how much to produce,'' said Bajaj, chairperson and managing director of India's largest two-three wheeler firm, Bajaj Auto. ``So start treating the consumer as your biggest asset,'' he advised.

He said family-run businesses must understand that to beat competition, companies will have to make way for the professionals as it is already happening with few Indian companies like Eicher, Kinetic, Murugappa group and of course the `new kids on the block' the infotech companies. ``Though there is no bar that owners cannot be professionals... it would harm all stakeholders including family-run companies if an incompetent family member is given charge of a company,'' he warned.

On stock options -- which has made few Indian employees millionaires overnight -- Chandra said shares given to employees help building long-term relationships and motivates people. ``However, in my case, I've lost out as some Zee employees' net worth is now over a few crores and they are not interested in working anymore,'' he said in a lighter vein. Zee's stock option to its top management has resulted in a windfall of over Rs 100 crore for its CEO alone as the company's share price shot up from Rs 200 to Rs 5,000 within a year. Zee has already announced a business plan that aims to increase its profitability by putting more emphasis on acquisitions both in India and abroad and diversifying into internet related businesses.

Asked which kind of companies between Bajaj and Zee will survive in the next century, Chandra said both will survive as the needs of consumers are different. Bajaj, however, said one need not to read much into the inflated market capitalisation (total number of shares multiplied by current market price) figures of the computer companies as the market sentiments change from time to time.

``The market cap of Amazon.com (a US-based internet start-up) which is making losses is higher than the combined market figures of General Motors and Ford Motors but that will not solve a consumers' transportation problem. As of today, a computer can not transport a person from point A to B, hence I believe as long as a company produces what a consumer needs, he will not be out of business,'' Bajaj reckoned.

The discussion agreed with what icon of Indian industry JRD Tata has once said: ``No success or achievement is worthwhile unless it serves the needs and interests of the country and its people and is achieved by fair and honest means.''