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Lively and live life to the fullest: that is the concept behind the name of Toyota’s new hatchback, the Etios Liva, which was launched in June. The world’s largest carmaker made the Liva, a sedan version of which was launched earlier, specially for India. Though competitively priced between Rs:3.99 lakh and Rs:5.99 lakh for various trims, the Liva is not going to have an easy ride, as almost every player is coming up with new models or facelifts in the segment. Referred to as ‘B plus’ in the auto jargon, the compact car segment is where the action is. Maruti Suzuki’s new Swift and Honda’s Brio are all set to hit the roads. Carmakers are betting heavily on the segment to revive the falling sales prompted by soaring fuel prices and interest rates. The compact car segment debuted in India with the launches of Swift and Hyundai Getz in 2005. It soon became an upgrading option for those who owned an entry-level car. “With Liva we are targeting customers who have a monthly income above Rs:75,000,” says a Toyota spokesperson.

The Banga brothers are two of a growing roster of global Indian business leaders, a roster that includes CEOs such as Citigroup's Vikram Pandit and PepsiCo's Indra Nooyi as well as the deans of both Harvard Business School and INSEAD. Yes, ArcelorMittal's Lakshmi Mittal had the advantage of growing up in the family business, but now the family business has grown into a global powerhouse under his leadership.

There had been a 40 per cent decline in the sale of Jazz in the April-July period compared with the same period last year. The new model, however, has been attracting ten times as many inquiries as the old one since its launch. Honda is getting ready to take the battle further with the launch of the Brio in September. The hatchback is likely to be priced around Rs:4.5 lakh and share the Jazz’s engine. It is expected to be more fuel efficient than the Jazz as it will be lighter.

When it comes to taking business decisions, the Ambanis are known to be ahead of their times. Dhirubhai Ambani ventured into petroleum business when few other private players could foresee a future in the industry. Now his son Mukesh Ambani, who heads India’s largest private sector company, has set his eyes on shale gas assets, hinting at a major shift in his company’s business interests. Ambani’s Reliance Industries Ltd, it seems, is banking on reports that shale gas is likely to overtake conventional gas and liquid fuels as a source of energy in the next decade.

Shale gas is touted as a ray of hope for major petroleum-importing countries such as the US, Canada and India. “Shale gas is now a proven game changer after high-profile acquisitions in the US. India has a large number of sedimentary basins with good shale gas potential,” said Bivek Anand and Harshad Boravake of Motilal Oswal in a report titled ‘Shale gas in India—closer to reality’.

What is shale gas?

Shale gas is a form of natural gas that is trapped within shale (a fine grained sedimentary rock) formations. Its existence has been known for more than a century.

Why is it important?

It is a dependable alternative to petroleum fuels and could change the world’s dependence on oil producing countries. It now accounts for 20 per cent of the total gas consumed in the US.

What are the challenges before shale gas exploration?

Unlike conventional oil fields which are drilled vertically, shale gas fields are drilled first vertically and then horizontally. Shale gas is found in tight reservoirs that have poor permeability. Water, air, chemicals and sand are forced at great pressure down the drill and through perforations in the rock to stimulate the flow of gas. This process is known as hydraulic fracking. Availability of abundant water is a major pre-requisite for this process.