INDIA TODAY needs more entrepreneurs than those working in other sectors, opined Business Solutions founder and CEO Chandresh Kumar. He was speaking at the inaugural function of the fourth three-day International conference on ‘managing global organisations: challenges, opportunities and strategies’ organised by Association of Indian Management Scholars (AIMS) at Indian Institute of Management (IIM-I) today.
Kumar in his keynote address said that Indian success story has been written with a boom experienced in several fields brought about due to liberalisation and globalisation. Hitherto, globalisation meant expansion of a company from a developed country into developing countries has taken a turnaround. Indian MNCs now have top ranks in the global market place.
The country is strong in knowledge resource and has recently emerged as a global supplier of skilled manpower. The Multi National Companies (MNC) aware of this core strength have opened several Research and Development centres and are using Indian Talent (IT) for their benefit, while remaining here. Only those MNCs succeeded in India, which did not view this country as an extension of their own market and innovated and adapted to the local ways. The Indian corporate has the advantage in going global, as it understands diversity.
The government needs to cash in on these opportunities and conduct regular performance self-appraisals. Most Indian success stories have emerged from those sectors where bureaucratic red-tapism is the least. Sectors like agriculture, health where government interference is rampant, remain the poorest performing.
Land reforms of Bengal, control on infant mortality rate and literacy from Kerala, Information technology from Karnataka, tourism from Rajasthan and other successful models shall have to be used all over.
World Economic Forum and CII have identified, three risks for India - Unemployment, backlash against globalisation and HIV/ AIDS. We can solve our problems by radical tangible action.
Globalisation is so important a phenomenon that visits of country heads is steered and dominated by economic considerations.
Even the Indo-US nuclear deal is fuelled by economics. In this context of globalisation national borders will become irrelevant and the process has already started with China and Pakistan shall sooner or later have to follow suit.
Globalisation affects the corporates as powerfully as the individuals.
The biggest enemy of globalisation is within us in our own mind set. We are yet very far from the ideal free global trade of goods, labour, or capital. The roots of the power unleashed in globalization lie in connectivity and technology. The two have forced the governments and corporates to redefine themselves and this will not stop. An increase in number of MNCs is inevitable.
IIM-I director Dr SP Parashar delivered the welcome address and conference co-chair professor Prithvi Yadav proposed the vote of thanks.