Welcome to the MMA Annual Convention 2023!
I am delighted to present to you the special issue of Business Mandate on the occasion of MMA Annual Convention.
India’s emergence is vital for the global economy to grow. Without the demand generated in India, production would plateau down globally. Every nation’s growth is constrained by the natural growth rate of its population. In other words, the world economy is not out of the woods yet. Japan, Europe, New Zealand and even China have populations that are either aging or declining. The elderly populace consumes up to a third of calories—much more than the younger folks. Add to this the declining ranks of youth in the workforce—another constraint to economic growth. India is where the consumers and their cohorts are found, in numbers, affluence and distribution. Therefore, it makes business sense to transfer production to high population markets. India is already becoming the most sought-after destination for FDI. It is also one of the top five global economies.
Listen to thought leaders sharing their insights on the theme, “INDIA’S CENTURY: How to Drive Sustainable, Inclusive Growth?” at the convention and watch the live webcast at www.mmachennai.org/pages/livestream.
I congratulate Team MMA for putting together an exciting convention with a galaxy of outstanding speakers.
The incredible power of a bot
A bot is an automated software program that digitally replicates some type of human activity.
The Bhashini Project, which uses open AI’s ChatGPT, is the government’s national language translation mission aimed at nurturing Indian language technologies as digital public good. Soon you will be able to ask questions and get details of more than 170 government schemes in your own language. In future, Bhashini will be integrated with the National Digital Education Architecture to enable children and adults to learn languages. It will leverage conversational local language techniques to facilitate payments. AI is a useful tool to overcome the language barrier in India. The ChatGPT-powered Bhashini has the potential to provide millions of Indians with access to the Internet and other digital resources in their own language. A great digital initiative indeed!
Contemporary trends in international taxation
The Finance Bill 2023 has proposed amendments to bringing overseas investments in unlisted and closely-held companies under the tax net. Concerns have been raised over the methodology of calculation and also about the compilation of FEMA regulation. In this context, the International Fiscal Association (IFA) in collaboration with MMA is organizing an international conference on Contemporary Trends in International Taxation on 3rd March 2023 at MMA Management Centre. This conference will provide insights on international and national taxation issues of current interest. Experts will also deliberate on contemporary tax trends having national and global impact. The event would also delve on ramifications arising from Budget 2023, including its impact on raising funds and cross-border structuring of startups from a tax and regulatory stand point. Block your diary and join us at the conference.
The big lithium find
The discovery of 5.9 million tons of lithium in Jammu and Kashmir is a major boost for India’s electrification plans. This is good news as we are still dependent on lithium imports for industrial use. Although there is much work to be done before its true value is confirmed, mining lithium is a high-risk, high-reward game in the ecologically sensitive Himalayas.
Post-Hindenburg, fundamental changes have kicked in; retail investors are struggling to gauge its impact. What goes up fast can come down faster. Given the low free-float and liquidity, there weren’t enough buyers for Adani Group stocks when sentiments turned sour. Short-selling is a very risky strategy because of huge volatility. Typically, the fundamentals of a company impact its market size. Many influencers have projected the Hindenburg Report as an economic attack on India. For individual investors, it is next to impossible to figure out how many more of such shocks will happen and what their exact impact will be on the price of stocks. It is imperative to understand that there is nothing that can possibly be more important than prudence, insight and wisdom in making investments.
MMA Women Managers’ Convention 2023
Come March, our women members step up their efforts in interacting with women thought leaders, entrepreneurs and corporate executives at the Annual MMA Women Managers’ Convention. The event is a celebration of the spirit of women, and the many diverse roles they play. We, at MMA, believe that the Women’s Day is not another shallow exercise in tokenism but a celebration of the spirit of women.
Women have the power to create the future they want. But reaching their full potential requires a little more than status quo. The big differentiator is not brains or brawn but resilience and—most importantly—an ability and willingness to go the extra mile!
The MMA Women Managers’ Convention will take place on Saturday, 18th March 2023 on the theme “The Extra Mile” at MMA Management Centre.
The convention committee headed by Dr Ranjini Manian and knowledge partner, EFL, are putting together a great convention with a galaxy of outstanding speakers. The convention content and structure have been finalized with great care, keeping in view the aspirations and expectations of our women delegates. Looking forward to seeing you in person at the convention on 18th March 2023 and you can also watch it live.
Thank you for your support. You are the adrenalin that pumps us to achieve greater heights.