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A new business magazine in India recently carried out a survey among CEOs, asking them whom they rated the highest. And Rahul Bajaj was ranked as the second-most respected corporate leader. And the factor that he scored on, besides the usual integrity and vision, was patriotism. All because the present chairman and managing director of Bajaj Auto has been one of the strongest votaries for a more level-playing field for Indian corporations to enable them to hold their own against the multinationals. Obviously, his stand has a large, even if silent, support.

The scooters produced by Bajaj Auto are ubiquitous, visible in every nook and corner of India, and in many countries of the world, especially the developing ones. It is in many ways, the status symbol of India's middle class, and a necessity given the pathetic state of public transport in most Indian cities. In the late 1970s, there was a waiting list for 13 years before one could finally purchase a new Bajaj scooter.

The two-wheeler segment was one of the first to witness liberalisation, way back in the early 1980s, with a flood of Japanese auto makers coming in with joint ventures. Many prophesied that Bajaj Auto would be wiped out against the mighty Japanese. Not only did Bajaj scooters survive, on the contrary its sales increased, and it more than held its own against them all. It was a triumph of Indian engineering, of a world class Indian product. Today, there is a Bajaj scooter produced every minute! And with sales to many other countries, Bajaj scooters are the pride of India. And Rahul Bajaj one of India's greatest industrialist.

When the Indian economy was liberalised and reforms introduced, Rahul Bajaj was not euphoric but cautious. And he has consistently warned against multinationals with vast moneypower destroying Indian industry, which in the long run would go against consumer interests. He has also been insisting that the Indian government must retain some control regarding the entry of multinationals into certain sectors, and the still not-so-strong Indian industry's survival and growth ensured. And this tall corporate leader has many backing him.

There has been criticism too. Since in India, no scooter can fight Bajaj Auto without a foreign tie-up and backing, perhaps Rahul Bajaj is seeking to make this difficult, and thereby ensure his hegemony. That Indian corporations are eager to retain family control, and unwilling to dilute their stake in the companies, thus making them vulnerable to the multinationals. And certainly, consumer choices have increased over the years for the better, so Indian corporations are being selfish in their criticism of the economic reforms.

At a debate a few weeks ago, Rahul Bajaj, speaking for Indian industry, said: "We must protect our own interests. We would be stupid asses if we don't." The moot question, of course, is: how best can we protect our own interests? And are consumer interests complementary with that of industrialists? Or is this just another ploy of industrialists to avoid facing competition? Will consumer interest be better served with more choices in quality products or is it important to safeguard Indian industry? And is Rahul Bajaj, who hails from a family which was in the forefront of the freedom struggle, with the watchword of swadeshi (our country), right, or wrong?