Delhi University’s Faculty of Management Studies (FMS) conducted its 31st Annual Convention on December 2 this year, with the theme ‘Vision India – Sustaining the Dawn of Opportunity’. The convention brought forth the thoughts and experiences of eminent personalities from the corporate world and policymakers.
Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, who was the chief guest at the Convention, said that for inclusive economic growth, it was necessary that the system should be flexible enough, allowing people to do what they want. Arun Maira, Chairman, Boston Consulting Group, who was guest of honour, said that the market eco-system was changing as corporates and individuals were taking responsibility of their actions for the effects on the environment. He stressed the need for sustainability and equality so that every Indian was empowered to live with dignity.
Speakers during the first session on ‘The Changing Indian Marketplace’ included Hiroo Mirchandani, Director-Consumer Health Products, Pfizer Ltd; Nita Kapoor, Executive Vice President-Marketing and Corporate Affairs, Godfrey Philips; and Kamal Oberoi, CEO and MD, M&C Saatchi.
Talking on the various aspects of changing consumerist trends and lifestyle aspirations of Indian consumers, Mirchandani said that the healthcare market was changing rapidly from being a reactive industry to a lucrative proactive one. Kapoor identified certain ingrained cultural and social paradigms like relationships, religion, art and marriage, which remained unchanged over time, and could be adopted to make relevant and appealing campaigns.
A session on ‘Building financial resilience in changing times’ dealt with analysing and structuring robust financial decisions for India Inc. so that it could grow and prosper in the current business scenario. Dr K C Chakrabarty, CMD, Punjab National Bank, gave a banking perspective that Indians were more insulated from financial shocks and instability due to less exposure to the banking environment.
While talking on a session on ‘Inclusive growth – the new mantra’, Shivakumar, Vice President and MD-Mobile Phones, Nokia India, said that economic and social inequalities still plagued India and tendencies like crime, strikes and ‘hartals’ still persisted, thus making it difficult for free and fair business to overcome the importance that should be given to education, health, infrastructure and public-private partnership. Kiran Karnik, President, NASSCOM, suggested the yardsticks for merit should be established and merit alone should be rewarded to remain competitive. However, he also stated that the native intelligences of 700 million rural Indians should be included.
Vijay Thadani, CEO, NIIT Ltd, was of the opinion that if the government allowed the corporate sector to grow unhindered, then talent could be nurtured from among the disenfranchised section. According to him talent development presented a great entrepreneurial opportunity while helping millions of people to cope with the demands of the new employment opportunities.