What a year that was!! What a year this will be?
The previous year cautioned every business owner to re-look at a vital business skill: Adaptability. With the economy remaining in a state of flux and 2021 starting off blank, it is time for everyone big or small to embrace change.
MMA too is adapting to the New Normal with a number of innovative initiatives, ranging from presenting national awards to organizing virtual conventions and hybrid events using state-of-the-art technology. We are organizing the virtual MMA Annual Convention on the theme “India’s Turning Point – Challenges and Opportunities” on Friday, 26th February 2021 from 09.30 am to 01.15 pm. It will include three exceptional virtual sessions and fireside chats with several prominent experts. We promise you brilliant sessions that can help you not only understand the current economic climate but also face the associated challenges and opportunities.
I would also like to take this opportunity to congratulate the MMA Convention Committee and our Knowledge Partner, McKinsey & Company, who worked tirelessly over the past few months to make the convention a grand success. I also thank the sponsors for their support during these difficult times. You can log on to our website and watch the entire virtual convention live as our special guest!
We strongly believe that South Asia cannot afford to miss full-fledged regional integration, both economically and politically. India and its neighbours need to co-operate and revive SAARC to counter the common challenges brought about by the pandemic. Compromising the importance of pan-regional organisations such as SAARC will have adverse consequences on the long-term stability of the region. On the other hand, China’s inroad into South Asia with the Belt-and-Road Initiative is turning out to be a big challenge. India needs to tackle this challenge dexterously, just like it is doing with the vaccine diplomacy. Reviving and re-invigorating ties with neighbouring countries would not be a difficult task, given the excellent relations India had with all of them. Moving towards an idea of a cohesive economic grouping is the key. In this context, we are delighted to present to you thought-provoking insights from one of the world renowned economists, Dr Sunder Ramaswamy, Vice Chancellor, KREA University, on the theme “The Impact of changing Geo-Politics on the future and What this means for India.” Click to read the article and watch his talk.
The Gabba Win…
19th. January is one of the happiest days in the history of Indian cricket. Team India won the series with complete dedication and mental alertness. Fortress Gabba was completely breached (Remember, Gabba is where visiting lambs are taken for the ritual slaughter!).
This historic win will be remembered for a long time to come. The determined show put up by a band of cricketing rookies made the impossible come true through sheer grit and mental toughness. In any sporting spectacle, people have generally rooted for the underdogs. In this contest too, between two apparently unequal foes, it was David who overcame Goliath. The valiant victory should boost the mood of the nation. We are delighted to present to you a virtual discussion on the theme, “The Triumph at Gabba” on 5th Friday, 2021 at 06.00 pm. Please do join the discussion to understand the Management lessons shared by a galaxy of sports personalities. Click to view the invitation.
By the time you read this editorial, the Finance Minister’s third budget would have already been presented.
It is sad to note that India is among the most unequal countries globally. The richest 10% of Indians control about 63% of India’s wealth, 41% of income, and 35% of consumption/spending. Even before the pandemic, India was already a highly unequal country. Now the economic upheaval unleashed in 2020 has exposed huge disparities. Income losses are being disproportionately borne by the poorest. This needs to be addressed in the current budget. The government should consider innovative initiatives to bridge this gap. In fact, the budget should reflect a judicial mix of demand- and supply-side interventions, so that recovery can be sustained over the long run.
Challenges in Imparting Education
With the entire education system still rethinking about the best way to impart education, students have lost an entire school year! But the situation is graver than that. The absence of serious educational engagement for such a long period has regressed children’s education. In other words, children have forgotten what they had learnt! Ignoring this reality will seriously affect our children. We must gear up to tackle this crisis immediately. If neglected, our children will suffer for our follies of today. Let us commit ourselves to imparting high quality education for our children. In this context, MMA has initiated a unique model at two government-aided schools in Chennai for the benefit of a large number of students. This initiative is supported by ACSYS Investments Pvt Ltd. This is only a small step in our efforts to transform our children to be great citizens and leaders in the society.
Wishing you once again a brighter 2021—raising a toast to those who adapt and change forever during the New Normal.
As always, we would be happy to hear your views, comments and suggestions.