"Rajat Gupta is no criminal, he's just an Indian," said India's Firstpost. That sentiment should rile business leaders from Mumbai to Bangalore. It was a mistake for leading industrialists - including Mukesh Ambani, the head of Reliance and Adi Godrej, the current president of the Confederation of Indian Industry - to back a campaign supporting Gupta. An open letter expressing admiration for his charity and his role in setting up the Indian School of Business looks like an apology for Gupta's crime.
The lack of reflection on the Gupta case fits in with a common line of thinking in India: you have to play the game. In Gupta's case, the game was helping a friend with some juicy privileged information. He appears to have seen no contradiction between that and his role as a standard bearer for middle-class Indians - a philanthropist and thought leader who founded a world class business school in Hyderabad.....READMORE