Quotas will hurt industry: CII
It also stated that the main objective of business was to raise the quality of the society at the national level.Updated: Apr 08, 2006 18:09 IST
The Centre's proposal for increasing reservation in government aided educational institutions, including the IITs and IIMs, is going "to hurt the industry negatively", MindTree Consulting Pvt Ltd CMD Ashok Soota and said on Saturday.
Speaking at the Annual Regional meeting of the CII and a session on "Emerging Challenges in Sustaining Growth", former CII president Soota said there is a large number of graduates passing out every year, but most of them did not have the requisite skills to be employed.
Soota said attrition was becoming a huge problem with almost all the industries. "The worst way a company addresses the problem was by raising salary," he said adding that it was one of the 'laziest' way to handle the situation. "Instead we have to find lateral solution to address this issue," he said.
Ashok Leyland Ltd MD R Seshasayee said innovation at company level was necessary. He said the job content at present did not allow the employees to be creative. "If you get people to use their creative ability, this could help cut down attrition," he added.
Earlier, ITC Ltd Chairman and CII President YC Deweshwar said the main objective of business was to raise the quality of the society at the national level.
He also said the industry must not run out of sustainable competitiveness and urged industrialists to look at long term gains.
First Published: Apr 08, 2006 18:09 IST