Indore: How can India become a $5 trillion economy? For that investment in financial and intellectual investment is a must, which in turn will boost the three pillars of the economy - domestic consumption, financial investment and exports. GDP will jump up to 8 % to 9 % per annum and the country will be able to achieve its target.
These were the main mantras of the management gurus while speaking on “$ 5 trillion Economy: Vision to Reality”, at the 29th International Management Conclave, the flagship event of Indore Management Association (IMA) here at Abhay Prashal on Friday.
On the occasion veteran industrialist and non-executive chairman of Thermex group, Padmashree Anu Aga was honoured with the IMA’s Life Time Achievement Award. The award was presented by past award winner and jury of the award selection committee Padma Bhushan Dr YK Hamid and board members of IMA.
Learn how to live life: Anu Aga
In her acceptance speech Anu Aga, said that “before learning anything in life, learn how to live it”. With her company’s 30% dividend being donated and planning to donate 50% in the coming years, she all set to do good for our economy. She left her seat as the chairman in 2004 and commented: “Why to hold on to a seat where you can do no good” she left her seat for her heirs to run the company more efficiently clearly shows her sense of business and her understanding of life.
Need imagination and enthusiasm: Dr Hamied
Dr YK Hamied, ex-chairman of Cipla Limited, suggests 4 points for achieving the dream of $5 trillion economy - imagination, enthusiasm, vision, attempt to success. He shared his beautiful past experiences with the achievement given to him last year by IMA and how he feels that Anu Aga is the worthy leader for this prestigious Life Time Achievement award.
Data consumption to fuel digital economy: Subi
Dr Subi Chaturvedi, Head, Tik Tok for Good express view on “digital innovation & doing Good for $ 5 T Economy.” Dr Subi emphasised upon the lack of digital aid in rural areas of India. She said the data consumption would be the fuel for our digital economy.
Fire round with Shyam Srinivasan
Shyam Srinivasan, chief executive officer & managing director, Federal Bank, addressed the gathering on the topic “Fireside chat with Manish Dafaria”. The session was a bit different than the others. In this session, it was a fire round which gave rise to a conversation between Srinivasan and an interviewer.
Among others, IIM director Himangshu Rai, Shubadha Rao, Group President & Chief Economist, YES Bank Rahul Tyagi, Co-Founder, Lucideus Tech, Bharat Dabholkar, Actor, Director & Ad-Guru, Ajay Sahai, director general & CEO, FIEO, Ira Trivedi, author, columnist and yoga guru, Prasad Chalasani, director, Caterpillar Logistics India Division also spoke.
We need to change leadership style: Dr Rai
Dr Himanshu Rai, Director, IIM Indore, commenced his speech by saying that why we should have a vision, the one question everyone forgets to ask! He answered by saying that if we lack vision it does not matter which way we go and if we walk long enough we would definitely reach somewhere. He continued explaining that we as a country are lacking the cycle of Savings, Exports and investments where it should happen again and again, the cycle is breaking! He continued by adding that to achieve a $5 trillion dollar economy we need to change the leadership style.
