Community News
Home  »  Community News
Apr
26
Dr. Mohan Kumar

India’s Roadmap to Global Leadership : An International Perspective

Articles
0
Dr. Mohan Kumar

H.E. Dr. Mohan Kumar is a ranking diplomat of the Indian Foreign Service with experience of over 33 years in a variety of interesting and challenging assignments. Soon after joining the prestigious Indian Foreign Service in 1981, he served as Third Secretary in the Permanent Mission of India in Geneva until 1984 where apart from learning the French language, he familiarized himself with work at the UN. Between 1984 and 1990, he served as Second Secretary and First Secretary in the Indian diplomatic Missions in Morocco and Congo respectively. Both were francophone countries and he was charged with political and commercial relations between India and these countries. Between 1990 and 1992, he served at the Ministry of External Affairs in New Delhi as the Desk Officer for India’s bilateral relations with Bangladesh, Sri Lanka and Maldives.

Allow me to begin on a personal note. In 1981, when I joined the Indian Foreign Service and was posted to Geneva as a negotiator at the UN, Indian diplomats had to “shout” to be “heard”. Three decades later, I am proud to say that Indian diplomats are not only heard with respect when they speak but are actually the most sought after!

It is crucial to understand what brought about this change. To me, the simple explanation is that India’s global reputation and prestige has evolved directly in proportion to its economic growth and development over the last three decades. Therein lies an important lesson. The basic mantra for India’s roadmap to global leadership is : economic strength backed by social cohesion.

In 1992, when I was India’s negotiator at the Uruguay Round of Trade negotiations in Geneva, India’s share of global trade was below one percent, less than that of Nigeria. If despite this, we enjoyed some negotiating clout it was due to the ability of our diplomats and due to the massive potential of the Indian market. The landmark economic reforms undertaken by us in 1991 gradually gave Indian diplomats some negotiating leeway and indeed went a long way in India accepting the results of the Uruguay Round Trade Negotiations.

If India is to exercise global leadership, then its economy has not only to grow at a fast clip but it also has to remain very open to foreign direct investment and crucially, to the latest technology transfer. To some extent, the one depends on the other. The role of the Indian private sector in this is vital. Traditionally, the Indian private sector has argued against state monopolies but has not unconditionally favoured opening up our economy to foreign firms and investment. This has changed in recent times, but in my view the change has neither been fast nor is it irreversible. There are still voices in our industry which ague against foreign firms and investment, even when it is desirable for the Indian consumer and the economy.

Three things are therefore imperative and the Indian Industry has an important role to play in this. One, the need to make our economy globally competitive which can happen only if there is competition from abroad with the latest technology and business practices. Two, the need for economic growth to be “inclusive”. In this regard, the last general elections in May was perhaps the first time in history that Indians “cast their vote rather than vote their caste”!! Development was such an important theme in the last elections that the whole world sat up and took notice of “Sab Ka Saath, Sab Ka Vikaas”. Lastly, we must continue to be the hub for global innovation, be it IT or pharma.

One final point. Regardless of high growth, latest technology transfer and a globally competitive economy, India still needs to maintain strong internal, social cohesion. Our Constitution provides in great detail how this can be achieved. All we have to do is to follow the Indian Constitution in both letter and spirit at all times ad especially when in doubt.

India’s global leadership will be decided in the coming period whether it is climate change negotiations, WTO negotiations or indeed at the Conference on Disarmament. In all these multilateral fora, India’s leadership will be determined by adhering to principles, ethics and national interest. But global leadership is ultimately dependent on negotiating clout and that comes with economic strength, social cohesion and strong political leadership. I am convinced that we have all these three in abundance today.

India, with a myriad religions, ethnicities and languages is both a puzzle and a marvel to outsiders. As Indians, we can be legitimately proud of the political and economic strides made by our great nation. But the journey has just begun. And there are miles to go before we can rest.

Apr
26
Milind Pant

Seven ‘Sutras’ in the Quest for Global Leadership

Articles
0
Milind Pant

Milind Pant has lived and worked in India, South Africa and Thailand. Currently, he is based at Shanghai. Milind is the President & COO of YUM China

In a USD 75 trillion world economy, India with almost 20% of global population has just over 2% contribution. On the other hand China, in the last three decades, has turbo charged growth to become 5X the size of the Indian economy. For all of India’s strengths, size, accomplishments, it remains a country that has punched well below it’s potential.
It is a mathematical certainty that in the coming decade India will become one of the exciting, fast growing large economies. This article presents seven ‘sutras’ or threads of thoughts on the ingredients required for India’s quest for global leadership:

1. Magnet for global capital, technology

The world is awash with capital. Brazil, Russia, South Africa (of BRICS) are sputtering. Global investment funds are on the lookout for the next growth market. In parallel, global companies are scanning the horizon for a low cost manufacturing alternative to China. Vietnam, Thailand are options but India has a much larger labor pool (& growing). It also has the bonus of a large domestic market, strong foundation in engineering, management talent plus a proven track record in adapting, developing new technology.
As India becomes an easier place to do business; with stable policy, tax and currency, it is destined to become a magnet for global capital, ideas, technology.

2. Achieve global scale

Global leadership requires global scale. In the Fortune 500, among the top 10, there are two American and three Chinese companies. China’s ICBC is the largest bank in the world by assets. For India, achieving global scale may require some deft pragmatism. Some of India’s largest companies- SBI, ONGC, Coal India, NTPC are state owned and need to be unleashed to build global capabilities, competitiveness and eventually scale.
In addition, India’s private sector has the platform of a large domestic market which, coupled with access to global capital and smart overseas acquisitions, has the potential to build world class companies.

3. Build iconic brands

Today, there is no Indian brand in the Interbrand Top 100 global list. Iconic brands are built on the foundation of great products. India has the potential to build big businesses, brands in new sectors likeDigital and the ones with distinct ‘Indianness’ such as movies, food, fashion. After all, five years back, it was unthinkable for Xiaomi, Huawei, Taobao, WeChat, Haier to embark on a quest to build global Chinese brands.

4. Turbo charged urbanization

China’s development in the last three decades has been driven by planned urbanization — adding 1% of urban population every year. Today, 55% of China’s population lives in cities that are connected with high speed bullet trains and highways.
India with its democratic credentials, inclusive society can lead the world with innovation in urban development, management and local government accountability. In China and America, city mayors compete for attracting businesses. Chengdu, a city in western, inland China claims to be the home of 230 Fortune 500 companies. Michael Bloomberg, one of America’s most celebrated entrepreneurs, ran NYC for a decade.

5. Nurture world class universities, technology labs

During the Gupta dynasty, some of the world’s best institutes of learning were in India. Before WWII, some of the top universities were in Germany. Today, the best ones are predominantly American. Silicon Valley has a symbiotic relationship with the web of universities in and around San Francisco.

None of India’s institutes feature in Top 10 or even 100. In order to be a global leader, IISc, IITs and FMS will need to step up to attract global faculty, students, private funds and a culture of restless creativity.

6. Innovate with social entrepreneurship

India cannot aspire to economic greatness with a fourth of India’s population below the (USD 1.25 per day) poverty line. On most of the Millennium Development Goal, India remains a laggard. The opportunity is for India to be a world leader in Social entrepreneurship — innovating new business models in nutrition, sanitation, education, agriculture, banking and more.

7. New model of local accountability

Despite all the above ingredients, India can ‘trip’ on its journey to economic greatness without fundamentally transforming the micro part of the government bureaucracy — the one that touches the everyday life of every entrepreneur. The district (akin to Swiss ‘canton’) is the smallest unit of administration in India. District administration must be accountable to all entrepreneurs (in fact, all citizens) to provide timely licensing, inspections, efficient services, utilities, maintenance of infrastructure — all with digital enabled transparency, accountability.

In modern times, China has had the fastest per capita GDP growth of 30X in the last 30 years! Now the stars are aligned for India’s marathon to economic greatness with disciplined planning, pragmatism and flawless execution of the seven ‘sutras’.

Apr
25
Mr. Pravin Malhotra

Make in India : A trillion Dollar Question

Articles
0
Mr. Pravin Malhotra

“Pravin Malhotra is Chairman and Managing Director of Nipman Fastener Industries Pvt. Ltd. His company has been repeatedly acknowledged for world class practices & has won several national awards. He has been on the Executive Committee at Auto Components Manufacturing Association (ACMA) & has participated in several international business delegations . He has also served as Assistant Governor Rotary District 3010 & President, Rotary Club of Noida.”

The 16th of May 2014 was a historic day in the history of modern India. The Indian citizenry put it’s faith behind a man for his track record and historic performance. The process was almost equivalent to shareholders pushing up a divisional head to be CEO of their conglomerate.

This CEO, our honorable Prime Minister immediately started travelling worldwide – not only making the India flag fly high but also attracting foreign manufacturers to invest in India. Prime Minister Modi definitely understands the 4 Ps of marketing – he started an aggressive campaign called “Make in India”, selling his vision to the biggest of corporates in the world. It is a tribute to his vision that the Taiwanese manufacturer Foxconn committing to a 5 Billion Dollar investment in India.

While the external image has been worked on, we are also seeing some strong intent on the domestic front. The Goods and Services Tax – which for years has been in the pipeline has been brought to the forefront with a commitment by the government to have it implemented by April 2016.

India today not only has a population above a billion, but is also the world’s youngest demography – with 356 million 10 to 24 year olds who would future assets of this nation in an otherwise aging world. A population that would be a dynamic working population in times to come! In addition, with an aggregate population of above 1.2 billion, India also promises to be a big market which any company would ignore only at it’s own risk!

Flexible labour laws, something that was considered too adventurous to talk about have become a reality today. This, thanks to India’s federal structure with states competing for investments – and Rajasthan showing the way in this area! Our Prime Minister has been a Chief Minister in the past – he would be perfect in understanding the power of a federal structure encouraging states to compete with each other in
attracting investments which would eventually lead to employment!

If one does look at the larger picture, the India of today has the resources and the manufacturing units to efficiently use these resources. The India of today also has the consumer base to identify markets for these resources – a dream land for investors to tap in!

Recently, Google appointed Sundar Pichai as it’s CEO. With Satya Nadella running Microsoft and now Pichai running Google, we don’t need a better endorsement
of the power of the Indian mind. With a PM aggressively pushing forward the ‘Make in India’ campaign, and India leading the way in demographic and intellectual
excellence answers are coming easily for the Trillian Dollar Question on Make in India

Apr
21
admin

FMS Diamond Jubilee Celebrations

News & Events
0
PAST ACTIVITES

Diamond Jubilee Celebrations of FMS

Panel discussion on ‘India’s Roadmap to Global Leadership’ – Challenges & Imperatives – Participants:

Rajiv Mehrishi,
Finance Secretary, Rajiv Memani, Managing Partner – E&Y, Banmali Agrawala, President – GE South Asia,
Moderator: Raghav Bahl

image1 image2 image3 image4 image5 image6

Seminar on ‘Make in India – A Trillion Dollar Question’ at Vigyan Bhavan
Keynote Address: Late Shri Arun Jaitley, Hon’ble Union Minister of Finance

Panelists: Amitabh Kant, Secretary, DIPP, Sunil Munjal, Jt. Managing Director, Hero Motorcorp Ltd.,
Richard Rekhy, CEO, KPMG India
Moderator: Ms Shereen Bhan, Managing Editor, CNBC TV 1

image7

Know this Market called India
Mr. Shekar Swamy
CEO R K SWAMY HANSA Companies
image10
Support to:  E-cell and Financial Society initiatives

The Marketing Society and Entrepreneurship Cell of FMS
image11

Sponsor E – Summit

image12 image13