Indore: The 29th International Management Conclave organised by Indore Management Association saw experts speaking on, ‘$ 5 trillion economy: Vision to reality. About 1000 leading CEOs and management professionals and about 3000 management students participated. Following are excerpts of what speakers said.
Focus on work: Rajat Sharma, chairman and Editor-In-Chief, India TV: “It does not matter if you are poor, the nation will give you a chance to be great, it is on you how good you are. I have seen poverty and lack of resources very closely in life. Coming from a family of 10 people where living space only allowed two persons, lack of resources to study, did not have anything to consume for days. These shattering experiences were de-motivating. But I focused on my dream and worked hard to get success. This is also how PM Narendra Modi, Virat Kohli and Atalji (Atal Behari Vajpayee) rose to high stature.”
India on verge of achieving it: Swami Nikhileshwarananda from Ramakrishna Ashram, Rajkot: “I believe that India is on verge of achieving the $5 trillion economy. Everything we achieve comes with an opportunity. There is need to change the style of leadership from the current styles practiced across the world to the Indian style known as the servant style of leadership.”
Follow DBT instead free power to poor: Deepak Satwalekar, venture advisor, Nexus Venture Partners: “The rural economy, growth and better social development index needs to be handled differently. Ease of doing business is required for MSMEs and to get FDI. Go for Direct Benefit Transfer (DBT) instead of supplying free power to the poor. Education system needs to change towards identifying problems and solving them. Past skills should be revised.”
Keerthi Kumar Jain, co-founder & chief executive officer, Any Timeloan.In: He talked about how the fintech, insuretech and wealthtech are the perspectives we need to combine together in order to raise the GDP by $1 trillion straight.
Hawai chappalwala can afford air travel: Harvinder Singh, country manager, United Airline India spoke on ‘Preparedness Of Aviation And Logistics Industries For $ 5 trillion economy’. “Soon even a person walking in the airport in a Hawai chappal will be able to travel by an aircraft. Airline industry has become affordable.” He talked about the tourism industry in India, which is focused on Delhi, Bombay, Agra. He said that with expansion of air routes the tourism boom can result in GDP growth directly. “Aviation and tourism can together be one of the best upcoming industries,” he said.
Need investment, demand: PK Gupta, MD, SBI, said that digitalisation helps in speeding up GDP growth. But growth is required in terms of manufacturing sector and country needs to kick start investments and create demand. Private investment need to happen with public government investments. Global companies’ contribution is required. He called some sector “super stars”. They are automobile, pharmaceuticals, food, infrastructure, electronic system design and manufacturing.
Manufacture sector needs boost: Dilip Gaur, MD, Grasim India Ltd & Head, Global Pulp And Fibre Business, Aditiya Birla Group: “Manufacturing can boost economic growth.” He said rising costs, lower price expectations, higher investments in innovation are challenges. But “being right the first time” is necessary to succeed.
Rishi Nitya Pragya, director programmes, Art of Living: Talked about ‘Exploring Infinite Through The Power Of Conciousness’. He said being happy if of utmost importance and concluded by giving an impressive musical performance in different styles.
People, business and civil leaders should come together: Mahendra Kumar Chouhan, chairman, Mahendra & Young Knowledge Foundation, emphasised on three types of leaders - public, business and civil. Public leader includes the government officials and politicians running the world, business leaders include CEOs, CFOs and major top management players and lastly civil leaders are activists who bring change in the society. He suggested that all these leaders should collaborate and work towards the betterment of economy.
India has second largest army in world: Lieutenant Gen PJS Pannu, Deputy Chief of Integrated Defence Staff Operations: Talked on ‘Defence Sector’s contribution to $5 trillion economy’. He said India has second largest army in world. He said intent to implement is important. Defence supports country by its power, manpower, strength, equipment. He also mentioned five keys - information, intelligence, integration, innovation, investment - needed to improve economy.
Knowledge, vision, experience, decision taking capability: Talking to management students, union transport minister Nitin Gadkari said entrepreneurship, leadership and firm determination are needed to achieve the success. How the leadership skill can be developed. It’s the combination of knowledge, vision, experience and decision taking capability.
