I am filled with immense gratitude and pride as I reflect on this year’s MMA Annual General Meeting (AGM) and the awards function for Managerial Excellence. The event was exceptional, thanks to your presence and unwavering support. Your participation and contributions have been the driving force behind our growth and achievements.
The highlight of the AGM was the enlightening address by our esteemed Chief Guest, Mr. T V Narendran, CEO & Managing Director of Tata Steel Ltd. His invaluable insights on achieving managerial excellence deeply resonated with all present, leaving a lasting impression on our minds. Equally captivating was Mr. Josh Foulger, President, Zetwerk, whose wisdom provided a fresh perspective on effective leadership in dynamic environments.
In this edition, we are pleased to present an article capturing the essence of the Chief Guest’s address, accompanied by an embedded video. We believe this content will be a valuable resource and a source of inspiration for your professional journey.
Additionally, we are delighted to share the video presentation showcased during the AGM, spotlighting MMA’s activities and achievements in 2023-24. This progress is a testament to the collective efforts of our members, well-wishers, and Managing Committee Members. Click to view the video highlights.
I extend my sincere gratitude to all of you for your continued support of MMA and its activities. Your unwavering commitment and involvement have paved the way for our achievements, and we look forward to scaling even greater heights with your support in the coming years. Together, let us strive for excellence and continue to drive positive change and growth for MMA.
Change of Guard
The new managing committee was announced during the MMA AGM on July 5, 2024. It is a privilege to work with this team of highly accomplished leaders. Led by President Mr. K Mahalingam, Partner/Director of TSM Group of Companies, for the second term, the committee comprises experienced professionals and new entrants with vast corporate backgrounds. Their collective expertise will guide MMA to greater heights.
As we embark on this new chapter, we are filled with promise and determination. With the support of our esteemed members and well-wishers, we are committed to achieving our objectives and surpassing all expectations.
Olympics 2024
The 2024 Summer Olympic Games were inaugurated on July 26, 2024, in Paris. This sporting extravaganza is expected to bring a wave of athletes, tourists, and experts to the French capital for the smooth conduct of the event.
A strong contingent of 110 athletes is representing India, and we wish them the best of luck in winning as many medals as possible. The Union Sports Minister has observed that a large percentage of our population does not engage in recreational sports, let alone competitive sports. His focus is on making Indians physically literate. Olympic medals are never born out of compulsion; they are born of passion, of that fire in the belly that refuses to be extinguished by adversity.
Sporting events such as the Olympic Games are so expensive that in the past that many nations have suffered huge setbacks. In October 2023, the Indian Olympic Association formally declared India’s interest in organizing the 2036 Olympics at the 141st International Olympic Committee session at the JIO World Centre in Mumbai. For a country like India, hosting multi-city games would require a tremendous amount of new infrastructure to be built. The question that really needs an answer: Why India wants to host the Olympic Games? It cannot be for economic reasons. Considering the cost of hosting the Olympics, it is worth asking if the country really needs such a spectacle.
Indian Stock Market
A recent study by the Securities and Exchange Board of India (SEBI) shows that 70% of individual investors in the equity cash segment ended up making losses. The number of individuals actively engaged in trading has shot up by 300% from its 2018-19 level. That said, we must not clamp down on investment activity that resembles gambling. Financial education is the most important tool to mitigate the larger risks posed by it. Markets have their own way of teaching investors lessons, as past episodes of difficult times have shown.
Union Budget 2024-25
The budget for 2024-25 continues to adhere to the government’s fiscal consolidation path, with the fiscal deficit at 4.9% of GDP. Subsidies across the board, from fertilizers to food and petroleum, have been reduced.
It is commendable that nine priority items have been framed for focused attention to ensure overall development. Financial support to students, with a sum of Rs.10.00 lakhs for higher education in domestic institutions, and upgrading thousands of ITIs into hubs are novel initiatives. The budget seems to have balanced political and fiscal compulsion to some extent. To stay on course for a Viksit Bharat, our economy needs to emerge less unevenly.
India at 2047
The challenge of becoming a developed country by 2047 cannot be overstated. The approach paper on Viksit Bharat outlines what is needed. India’s economy needs to grow from $3.3 trillion currently to $30 trillion, while the per capita income must increase eight times from $2,392 per annum. This would require an annual growth rate of 7-10% for the next 20-30 years to achieve this objective.
In this context, MMA is organizing a discussion on the theme of the book, “India @100: Envisioning Tomorrow’s Economic Powerhouse,” authored by Mr. Krishnamurthy Subramanian, Executive Director, IMF, and Former Chief Economic Advisor, to understand more about this complex issue. Please join us on Friday, August 9th, at 6:00 PM at the MMA Management Center.
Mental Health
The concept of mental health is gaining considerable attention. Eight out of ten employees are at risk of burnout this year. So what is the solution? How many times have you been unable to fall asleep due to thoughts racing through your mind?
We live in a hyper-stimulated world where we are constantly bombarded with visual, auditory, and digital inputs. This overwhelming sensory load can lead to overstimulation, causing fatigue, irritability, and decreased cognitive function. What is the solution and the way forward?
The World Health Organization (WHO) states that depression is the primary cause of disability worldwide. While depression impacts both men and women, men are particularly reluctant to seek help. Prioritizing one’s own mental health needs can help individuals overcome the pandemic of loneliness by enabling mutually nourishing relationships in life. Ultimately, mental health interventions need to embrace an intersectional approach that can tackle the multi-dimensional challenges of mental health issues.
In this context, MMA is organizing a series on the theme “Unleashing Inner Potential: Cultivating Mental Resilience for Well-Being” to explore this complex issue further.
Additionally, MMA organized a lecture on the theme “Harnessing the Power of Hypnosis for Effective Leadership and Team Management” by an international speaker to showcase the power of the mind. I am delighted to present the article on these lectures as the cover story. Please read on and enjoy, or click to watch the video.
Demographic Dividend
World Population Day was observed on July 11, 2024, and it is essential to examine India’s demographic journey. The world population is expected to reach 8.5 billion by the end of this decade. Two significant changes are anticipated: an imbalanced distribution of population across regions and a skewed age structure. The average life expectancy of Indians has also increased over time, leading to a demographic shift towards an aging population.
Despite this, India continues to have a large population in the working and earning age group. Factors such as the opening up of the economy, significant private sector investments in higher education, and FDI investments in the Indian manufacturing and services sectors over the past decades have put money in the pockets of a new generation of youth with aspirations, both in terms of career and personal life. Many believe this trend will continue indefinitely.
In this context, MMA is organizing a seminar on the theme “Demographic Dividend: Boon or Bane” on August 12, 2024. To explore this complex issue further, eminent speakers will share their thoughts, which promise to be thought-provoking and inspiring. Please mark your calendar and watch this unique event at 06.00 pm on August 12, 2024. Click to watch the video.
Solving India’s Solid Waste Crisis: Lessons from Madurai
The Swachh Bharat campaign has made tremendous strides but India’s solid waste crisis persists with burning landfills and choked streams. One in three plastic waste generators in Tamil Nadu do not recycle according to norms, leading to severe environmental impacts such as pollution of lakes, water sources, and sewage systems.
In this context, MMA is organizing a seminar on “Solving India’s Solid Waste Crisis: Lessons from Madurai,” on Saturday, 17th August 2024 at 06.00 pm in association with Sundaram Climate Institute, which has conducted a study on over 2000 household during 2018-2023. One insight the report cited was the lack of awareness on why managing solid waste matters.
The seminar will delve into successful strategies and practices adopted in Madurai to tackle solid waste management challenges. By examining these lessons, we aim to explore practical solutions to improve recycling rates and mitigate the environmental impact of improper waste disposal.
We urge you to constantly send in your feedback, both positive and critical, as both are equally important inputs in helping us improve what we do. As always, we would be happy to hear your views, comments, and suggestions.
Thank you for your continued support and readership.
Happy reading!
