Manish Kapoor is an MBA student at Mumbai University. At just 22 years of age, he has a big dream: he wants to run his own company by the time he is 30.
"I am determined about my future. To be a CEO is something I had wanted since I was a teenager," he says.
Because Mr Kapoor was born and bred in Mumbai, staying close to his family plays an important part in his plans.
"If I have to go and work overseas for few years, that is fine. But ultimately I'd like to be a head of a listed Indian company, right here in Mumbai, to make my family proud. It will all depend on the job, salary and other conditions of course," he says.
Mr Kapoor's dreams may be attainable as recruiters say salaries for Indian chief executives are inching closer to those of their global counterparts, and business leaders may no longer have to go abroad to make top dollar.
The average chief executive's annual compensation in India has crossed US$400,000 (Dh1.4 million), says the consultancy Hay Group. Salaries in India are also comparable with those in the West, thanks to the economic situation, which makes India a more desired place for future chief executives.
"We have noticed MBA students have started thinking about getting their jobs in the home market after the recession hit overseas," says Rajesh Kumar, the chief executive of MyHiringClub.com. "In addition, India Inc had started to make their salary structure almost comparable to the West, keeping in mind the cost of living and other factors of the West."
The chief executive's role has also changed, according to recruitment specialists, which has in turn contributed to the rise in salaries.
"The Indian CEO market has traditionally thrown up a number of CEOs who are excellent at managing operations but are lacking a longer-term focus," says Sridhar Ganesan, a rewards practice leader at Hay Group India. "Thus, there is a scarcity of CEOs skilled at taking a larger view of business as a whole, and this demand-supply mismatch drives CEO compensation higher."
Another study by the recruitment consultancy Aon Hewittcalculated the Indian chief executive's salary to be closer to $1m, taking into account complex calculations of purchasing power and standard of living in India.
But this salary is still far away from that of American counterparts. A US chief executive can expect a top-level salary twice that of his Indian counterpart. According to Aon Hewitt, a US boss these days can command a salary on average of about $2m.
On the other hand, a European chief executive's salary is closer to his Indian counterpart's than to the American's, with EU bosses able to command average salaries of $1m to $1.3m, the survey said.
Recruiters say sentiment against huge executive pay has risen in Europe. The continent's poor economic status is another reason that EU executive bonuses are lower.
More European chief executives are coming to the Indian market, thanks to competitive packages.
"With salaries now touching global level, they are able to attract more CEOs even from global market," says Mr Kumar. "In the last two years, we are seeing an increase in the recruitment of CEOs in the domestic market. After recession hit Europe, India Inc had hired more expat CEOs compared to before because they are now more affordable."
India is also trying to tidy up its "fat cat" culture. A proposed companies bill, due to be voted on this month, proposes that chief executives' compensation be limited and that shareholders be given the right to vote on compensation for top executives.
Salman Khurshid, the corporate affairs minister, said last year that companies should not pay their top brass "vulgar salaries".
Manmohan Singh, India's prime minister, has also voiced his concern on the subject.
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Zayed Sustainability Prize
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Jawan
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
The flights: South African Airways flies from Dubai International Airport with a stop in Johannesburg, with prices starting from around Dh4,000 return. Emirates can get you there with a stop in Lusaka from around Dh4,600 return.
The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680).
Accommodation: The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.
