India’s economy is expected to expand by about 6.5% over the next 2-3 years.  In fact, it is intrinsically better positioned than the economies of many other countries.  This is mainly due to the resilience and reliance on domestic drivers, unlike the global economy. India would not slow down; it would maintain the pace of growth. We remain optimistic whatever the odds, and it is time to look back and look forward. In this context, MMA organized a discussion on the theme “India’s Pathways to Success: Winning in the Next Decade,” where thought-leaders shared their insights.

Click to watch the video recording of the event.

Labour & migration

Internal migration is an overwhelming reality that underscores India’s developmental landscape. While migration opens up new vistas of work for millions of people on the move, it also pushes people into unequal and highly exploitative work regimes. Skilled migrant workers are less vulnerable to exploitation, but their departure deprives some developing states of the valuable labour needed for their development. International Labour Organization (ILO) standards on migrant labour provide adequate protection to this vulnerable category of workers.  There are many questions around inter-state migration/migrants. These pertain to the changing demography, social structure, and also outward remittances of migrant workers to their parent states. This has socio-economic and political electoral consequences for both the donor and recipient states, especially the latter, particularly in the context of prevailing and evolving political dynamics and their influence on society.

In this context, MMA organized a discussion on the theme “Inter-State Migration: Demography and Economy.” The article on the discussion is published as cover story in this issue with an embedded video. Check it out.

Silicon Valley Bank

The shutdown and takeover of Silicon Valley Bank (SVB) by US regulators has raised a number of questions  on how it would impact Indian start-ups and what does it mean for Indian banks. SVB played an important role as partner for the global startup economy. It is clear that SVB did not suffer loan defaults but was hit by bond losers that many US banks are vulnerable to, and SVB is more of a lender than an investor. According to a research firm, Tracxn, SVB invested in about 21 Indian startups.  At this stage, SVB’s failure has not assumed such proportions, even if a few startups suffered. However, the serious concern is that many VC’s deposited millions in SVB, which could lead them to further slowdown their funding initiatives.

The impact on Indian banks is not significant since they have little exposure to SVB.  The good news is that Indian banks are tightly regulated and they are unlikely to face a similar fate. RBI’s stress test found that Indian banks would be able to withstand severe stress and that banks are at their best shape. That said, the sector is not without its challenges, including some of the clients left for higher returns in other investments avenues.

Inflation

India’s retail inflation eased 6.44% in February from 6.52% in January.

This is however hardly satisfying given that it is still well above the RBIs 6% upper band.  Hopefully, the inflation rate would drop in March.  The US Federal reserve has raised the Federal fund rate for the 9^th time in a row.  Inflation will remain the Fed’s greatest priority and India’s Central Bank typically tends to mirror the Fed. Given this, it is highly likely that RBI will increase the repo rate or the interest at which it lends to banks, when it meets next April.  This means that instalments on loans may go up further. Also with the interest rates in the US going up, foreign investors have better investment options available there. Its implication is that the Indian stock market will remain dull and that Rupee-Dollar exchange rate might come under further pressure.

Say cheese! Smile please!!

The latest World Happiness Report has much for India to think about. According to its ranking of countries, India is among the least happy nations—measured by social support, income, health, freedom, generosity and absence of corruption. India is ranked 125^th, coming behind Nepal, Bangladesh, China and Sri Lanka. On top of the rank is Finland, crowned the happiest nation for six years in a row followed by Denmark and Iceland. These countries do well with initiatives such as a strong social safety net, but in India our policies are focused on expanding the economic pie rather than sharing it. Happiness involves more than just economic well-being; enlarging people’s financial strength would be a big step in the right direction. And for that, equitable growth is mandatory.

In this context, an event organized by MMA on “A Happier You: Strategies to Achieve Peak Joy in Work and Life Using the Science of Happiness” is interesting and insightful. Do read the article published in this issue and watch the video.

One year into the Ukraine War

The Ukraine War entered the second year. It is a humanitarian and human rights catastrophe. It has traumatized a generation of children and has accelerated food and energy crisis in most parts of the world. In the hostile atmosphere, where both Russia and Ukraine are still unrelenting, peace negotiations are the only solutions to end the war. The rest of the world has to ensure that this happens at the earliest. In this context, MMA is organizing a discussion on the theme “One year into the Ukraine War” on 17^th April 2023 at MMA Management Centre. Please join us in person or watch it live.

MMA Flagship Events

The MMA Annual Convention and Women Managers Convention organized by MMA was a grand success.  A galaxy of eminent speakers addressed the delegates. Both the conventions were attended by a large number of delegates—over 1500 in person and over 35,000 online.   I am indeed thankful to our members and Managing Committee members for their unstinted support which enabled grand success of the MMA flagship events. 

I am delighted to present to you articles on the inaugural and keynote of the Annual Convention for your reading pleasure. You can also watch the video recording of the convention. Click to view the full coverage of the Annual Convention and the Women Managers Convention.

We urge you to constantly send in your feedback—positive ones as well as criticisms, both equally are important inputs in enabling us to get better at what we do.

As always, we would be happy to hear your views, comments and suggestions.

Wish you a very Happy Tamil New Year’s Day!

Happy reading!

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.

Investment lessons!

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, 18^th 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 18^th 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.

Happy reading!

Hopefully, budget 2023 accelerates investments, spurs consumption and moderates current account deficit—catapulting India to double digit growth. While India’s performance was much better than many other countries, the return to normalcy was delayed. We should temper expectations of any big surprise in the budget. India needs a striking rate of 8-9% income growth for the next 25 years to become a high-income economy. Another challenge could be climate shock, which can pound India’s vast agriculture sector, pushing millions into poverty. A low carbon path would be key to hedge such future risks. We need to focus on the ease of setting up manufacturing plants and bringing down the cost of operations while focusing on upskilling to emerge as a global manufacturing hub. The nation needs a new vision in a new world. The government can probably contribute to it, and the states can also add on to it. But if you think that GDP growth is going to accelerate because of the budget, I think that could be over ambitious.

Lessons from Jacinda Ardern

In the resignation of Ms Jacinda Ardern, former Premier of New Zealand, there are valuable lessons for corporate leadership. “I am not leaving because it’s hard,” she said. “I am leaving because with such a privileged job comes responsibility: the responsibility to know when you are the right person to lead and also, when you are not.”

Her statement astonished everyone. In a world where we have seen leaders clinging on to their posts for dear life, by means fair or foul, Prime Minister Ardern’s statement was a shocker. I strongly believe that people should always keep their exit card in their pocket and carry on with their jobs, but only until one finds it interesting and have something substantial to contribute.

MMA Annual Convention 2023

Global food, energy and financial crises have been exacerbated by the climate crisis. India has a unique opportunity to lead from the front through one of the most influential platforms: G-20. Several priorities have been identified—green development, climate finance, lifestyle for environment, accelerated inclusive and resilient growth, accelerating progress on sustainable development goals, and women-led development, etc. In this context the MMA Annual Convention on the theme “India’s Century: How To Drive Sustainable, Inclusive Growth?” focuses on three special sessions: Sustainable Growth With Energy Independence; Atmanirbhar Bharat – Accelerating Frontier Growth In Key Sectors (Defense & Aerospace manufacturing, Semicon Manufacturing and GiG economy); and Getting It Done – What Challenges Lie Ahead To Execute A Multi-Point Strategy? How Can India Mobilize (Human Resources, Financial Resources And Technology) To Achieve Aspirations?

The convention will help participants to gain insight into India’s growth story and the key factors driving sustainable inclusive growth. I would also like to take this opportunity to congratulate Mr K. Mahalingam (Mali), Chairman, MMA Convention Committee and our Knowledge Partner, McKinsey & Company, for tirelessly working over the last few months to make the convention a grand success. I also thank the sponsors for their support in organizing the event. Please watch the convention live on Saturday, 25^th February 2023.

Developing our schools

Alarming observations have been made in the recently released Annual Status of Education Report (ASER). A class five student is unable to read a class two level text book! It is a serious issue that will have a deteriorating and cascading impact on the future of our children. There are serious indictments of the education system and schools should initiate immediate remedial actions before it is too late. The sharp rise in children enrolled in Government Schools is a positive outcome of the pandemic; the main reason being the usurious fee structure of private schools. It should be our endeavor to improve the standard of teaching at government and aided schools. Only disruptive change in education could help us tackle joblessness. The long neglect of primary education has left us with deficient basic skills, and this needs to be addressed.

The MMA-ACSYS and Super Auto Forge CSR initiative at government aided schools focussed on skill development at all levels. It’s our endeavor to provide the best environment for students to learn from the best trainers. It will significantly enhance their pride and passion for learning. With the realization of such an initiative, removing barriers to accessibility will be an uphill, but not insurmountable, battle.

Indian universities & the world

For a long time, proponents of internationalization of higher education have cherished the dream of foreign universities operating in India. But, the idea failed to materialize due to the concerns of the regulatory authorities, governments and foreign higher educational institutions. Opening up to the world means making India more visible on the global academic scene. It also opens up implementing best practices from abroad. All this will take careful planning, abundant resources, and support from the central and state governments. It also calls for a growing consciousness in the Indian academic community.

GST today & tomorrow

At Rs.1.5 lakh crore, the Goods and Service Tax (GST) inflows in Dec 2022 signals a recovery of the Indian services sector. The GST council had met briefly after a long break but left with many critical reforms hanging. The council must be convened soon after the budget, not just to help sustain revenue inflows, but also to rationalize the rate structure. In this context, MMA is organizing a presentation on the theme GST Today & Tomorrow by Mr K Vaitheeswaran, Advocate and Tax Consultant, to understand more about the complex issues connected with the implementation of GST and also about the changes ahead.

EV owners’ dilemma!

EV owners are facing an unusual hurdle from their resident welfare associations. RWAs are spooked by instances of EV related fires and aren’t allowing charging infra to be setup. As EV ownership increases, it will be important for apartment complexes to be proactive in installing the charging infrastructure. Otherwise, India’s EV story can hit a serious hurdle. Apart from common electric fast chargers, there is a need for the grid infrastructure to be upgraded at the distribution level to support increased EV charging. It’s a challenge big enough that demands a government policy to resolve the issue.

We urge you to constantly send in your feedback—positive ones as well as criticisms, both equally important inputs in enabling us to get better at what we do.

As always, we would be happy to hear your views, comments and suggestions.

Happy Reading!!!

Wishing you a very happy New Year!

The year 2022 mattered a lot too, for the continuing shocks and volatility and challenges: From the invasion of Ukraine to the rise of Covid in China, from inflation to climate change… these ordeals and a lot more have set us along a new path and have also shed light on the three major tipping points affecting the future of our country:

First, reversal of the country’s youthful demography by 2055.

Second, the dangers of climate change.

Third, the prospect of large sections of society finding themselves free from wants and choosing to remain idle, especially so with the maturing of fourth generation technologies like digital, nano, bio and machine learning, and the increasing fusion of cyber and physical space.

Rather than worrying about the problems in store for 2023, a more constructive strategy would lie in strengthening the country’s economic foundations so as to achieve the best possible economic outcome no matter what happens elsewhere around the world. Macro stability and continued reforms will ensure that once the ongoing global storm passes, India will be raring to go!

Leadership for the future!

The impact of economic, political and public health events of the past few years is still visible. While some parts of the world are grappling with economic slowdown, other parts are witnessing increasing socio-economic disparities. Climate change is striking all over: Europe is experiencing heat waves; the Atacama is blooming; and unseasonal flooding in major cities, like, Bengaluru… Sustainability is under threat. Business leaders are re-accessing their impact, including on the environment. Still, they need to ask difficult questions and make tough choices.

Is it possible to pursue both growth and sustainability? By reducing emission and investing in sustainable and green processes and technologies, business leaders can do their bit to restore the health, happiness and harmony of people and the planet. By practicing responsible leadership, leaders can begin implementing this change within. The future of business lies in nurturing organizations that can give back to the planet and help make it a better place.

In this context, MMA organized a unique event on “Leaders in Making,” “Becoming Powerful and Unlocking Your Potential,” and much more. Watch the videos and read the articles on these discussions in this issue.

MMA has scheduled a number of events in January relating to de-carbonizing India; for instance, (i) charting a pathway for sustainable growth, (ii) towards a green economy and much more. Please watch the experts share their insights on how to reduce emission and invest in sustainable growth to restore the health, happiness and harmony of the people and the planet.

Tamil Nadu as a trillion dollar economy

The Chief Minister of Tamil Nadu has set a goal of becoming a trillion dollar economy by 2030. This is an excellent aspirational goal. Tamil Nadu’s GDP this year is expected to be equivalent to $ 0.31 Trillion. To reach the goal set by the Chief Minister, the state has to triple the size of its economy. A strong growth over a sustained period can happen only in a stable economic environment. In this context, I am delighted to present to you in this issue the insights shared by the Finance Minister of Tamil Nadu Dr PTR Palanivel Thiagarajan during the 4th R K Swamy Memorial Lecture delivered on the theme “Shaping Tamil Nadu Towards a Trillion Dollar State” at MMA. Please click to watch the video and read on the article in this issue.

Covid-19 and India

After three years, Covid is still alive and kicking in China. It is a foregone conclusion that cases will spread across the world. With our array of different vaccines of proven efficacies, effectiveness, safety and lasting immunity, India is prepared to counter any spike in new infections. However, there must be emphasis on booster doses, increased genomic surveillance, screening of passengers at airports and basic prevention protocols. With the New Year and many festivities around the corner, one hopes that the rise in cases in China does not cause problems. We need to be safe and remain alert, particularly considering that the true picture hardly emerges from China.

Resolution for 2023!

I don’t have a single resolution for the New Year! Am I worried? Absolutely not, but no more resolutions. It’s not that resolutions are inherently bad. It’s that they rarely help you achieve your goal.

I love this quote from Maya Angelou: “You can’t know where you are going until you know where you have been.” This could not be more apt when looking at my past resolutions. You don’t need to wait till the New Year to take small steps towards becoming better individual. On the other hand, keep watching MMA events and read on business mandate to achieve your objective!

Looking ahead

As the year draws to a close, we would like to thank you for your unflinching support and encouragement year after year. We will continue to remain your trusted partner when it comes to anything related to Management. We will work with renewed vigour and focus on best practices/insights on latest management thoughts to enhance your professional competence. We assure you that we shall maintain an “Arjuna Eye”—borrowing a phrase from the Governor of the Reserve Bank—on your professional needs and well-being to be a high performance individual.

We urge you to constantly send in your feedback—positive ones as well as criticisms, both equally important inputs in enabling us to get better at what we do.

Thank you for your great support. You are the adrenalin that pumps us to reach greater heights.

As always, we would be happy to hear your views, comments and suggestions.

Happy Reading…. And a brilliant New Year!!!

Lofty notions of leadership captivate our collective imagination, but everyday management skills that organisations desperately need remain unappreciated and ignored. In most organizations, leaders are better at assigning work than stopping unimportant tasks. Stopping a project or task—after investing heavily in it—requires courage. However, many leaders dread the resulting adverse impact and end up failing to take corrective actions, which would have enabled employees to stay efficient and agile.  This fear of action, or inaction, obstructs any hopes of clarity, stability and safety for employees, and shapes employees’ negative perceptions, resulting in dissatisfaction, lack of commitment and lackadaisical efforts. Good leaders work hard to create fair processes and hold people accountable.

Despite the massive attention given to inspirational aspects of leadership, it is clear that most people aren’t still inspired, engaged or truly committed in their work. Good leadership requires guts, grit and a lot of practice. It is crucial to know how people feel about their organisation, performance and focus.  Let’s stop pretending that it’s a lesser skill set. We need to get serious about building it. In this context, MMA in association with the Andhra Chamber of Commerce (ACC) organised a presentation by Mr D Shiva Kumar, Group Executive President – Corporate, Strategy & Business Development, Aditya Birla Group, on the theme, “On Changing Leadership Expectations” on 18th November 2022, commemorating the 100th joint event between MMA and ACC. Please read on and watch the video for the full talk.

India’s neighbourhood-first policy

A core component of India’s foreign policy, the neighbourhood-first policyfocusses on maintaining peaceful relations and fostering collaborative development with the South Asian neighbours and region.  However, it is essential for these countries to be mindful of India’s concerns and sensibilities on security, economy and prosperity.  Now, with its responsibility on assuming the G20 leadership position, India must walk the talk and build capacities to strengthen its position.

In this context, MMA organized a discussion on the theme, “India’s Neighbourhood First Policy,” which focussed on various issues confronting the country and its seven neighbours. I am delighted to present you the thought-provoking insights shared by the distinguished panellists on this issue.  Please read on and watch the video.

Beware of the crypto!

The collapse of cryptocurrency exchange, FTX, at the beginning  of November 2022 has a detrimental impact on numerous industry players.  Unfortunately, fraud has always had a negative impact on finance. Indian start-ups involved in crypto assets management have said that they have systems and protocols in place to ensure that no FTX-like situation arises with their users.  But the founders and boards must also ensure that these companies follow good governance and due diligence practices with appropriate internal checks and cross checks, and report through regulatory filings.  It is imperative that a robust risk management mechanism should be in place, especially till crypto becomes a formal part of the economy.  Creating awareness and putting in place an extra layer of oversight over crypto companies make sense and are in the interest of users.

To the 8 billion!

The world has hit a population milestone: 8 billion!  India is all set to become the world’s most populous country in 2023—much before 2027, as had been predicted by the United Nation Population Division. India is poised to gain a significant number of working age individuals in the next 25 years, almost every fifth in the world. Nonetheless, given the country’s existing labour market scenario, one wonders whether such a huge potential of human resources will really do much for the Indian economy unless, of course, we are able to enhance women’s participation on a significant scale. The country’s demographic dividend will be wasted if women stay out of the labour market. To be proactive against failures, gender differentials in access to education and skill development must be removed on a priority basis. It is also important to foster the social infrastructure to relieve women from their double burden of work and foster a “women-friendly” work culture.

In this context, MMA Women Business Forum organised a thought-provoking talk on the theme “How Gender Equality Benefits Men” by Ms Anuradha Mathur. The article on this event is published in this issue. Please read on and watch the video. Don’t let a gender imbalance drag our economy down.

Climate & COP 27

Nearly 190 countries agreed to the creation of a new fund to support developing countries on loss and damage (L&D) arising due to climate impacts. This decision was welcomed by governments and civil societies. But is this really a win for developing countries?  Who is going to contribute to the fund?  It’s my view that a small win was offered to the developing world to show that COP 27 was a success.  The debate on L&D has entered the most contentious phase and India, on its part, has to ensure that its interest is protected and the developing countries’ bloc continues to be united.

Commercializing space ambitions

India’s first private space mission, Prarambh, by Skyroot Aerospace, based in Hyderabad, was a grand success.  India is still at a very early stage in commercializing its space ambitions.  Only Agnikul Cosmos, Pixxel and Skyroot have received funding. We had the privilege of hosting the Agnikul story at MMA Management Center with very inspiring insights shared by Mr Srinath Ravichandran, Co-Founder and CEO, Agnikul Cosmos.  While Indian start-ups are still largely at the pre-commercial stage, they expect larger funding post-success of the first mission.

MMA under its CSR initiative supported by ACSYS Investments Pvt Ltd introduced an 8-week workshop “Space Connect” for the benefit of poor students studying at government-aided Schools.  The objective was to introduce students to various aspects connected with Space Science and Satellite which would kindle their interest in Space and Rocket Science.

I am also delighted to present interesting articles in this issue covering the entrepreneurial journey of Mr Muthu, CEO, Idhayam Oil, a story on Mr Harsh Mariwala, Chairman, Marico Ltd and India 2047 and more…. 

Please read on and get inspired.

As always, we would be happy to hear your views, comments and suggestions.

Merry Christmas and happy reading!

People and organizations thrive in an environment built on collaboration. When organizations come together, they achieve their objectives effectively. Interdependence is essentially merging ‘the mindset of abundance’ with ‘the discipline of leverage’. It occurs where organizations are working collaboratively to achieve a common vision. Our journey to propagate the Management Movement started 66 years ago. While our brand signifies our roots, our tagline vision, “Fountainhead of Excellence,” symbolizes how we have been striving to realise our aspiration for reaching new heights of excellence.

In this context, I am delighted to share with you that MMA and Andhra Chamber of Commerce have been organising joint programmes for the past few years. We are having our 100^th joint lecture on 18th November at MMA Management Center. Mr D Shivakumar, Group Exec. President- Corporate Strategy & Business Development, Aditya Birla Group, has kindly agreed to deliver the Special Lecture on the theme “On changing leadership expectations.” Do join us and watch the special event live.

AI has exceeded our expectations

AI is doing the unthinkable. At a time of evolving business models, AI enables businesses to re-think strategies and adopt a more humane way of instilling enablement. Every day examples of such enablement include automated cars, contextual robots, automated financial investments advisors, and even marketing.

In the hiring industry, AI is enabling a more equitable and humane culture. It enables organisations to onboard candidates with higher intangible skills than just numbers. No major industry can claim being unaffected by the AI vision. AI should be able to generate many new and surprising ideas. In this context, MMA organised a National Management Students Convention on the theme “AI: Shaping Today and the Future” on 27^th September 2022 at the IIT Research Park Auditorium. A galaxy of eminent speakers addressed the convention. Around 1000 delegates attended the event, and over 25000 watched online. I am delighted to present an article on the convention in this issue with embedded videos. Please read on and watch to get inspired.

Sustainability is ideal for business as well as the planet

More and more organisations are expected to craft their business strategy with sustainability embedded in the design, now that evidence has piled up in favour of its business sense. As pressure increases on businesses to meet the challenges of sustainability, a widening set of technological tools is emerging to help achieve ends consistent with a bequeath-able planet. While the pandemic did throw us off Sustainable Development Goals, it is important for businesses, governments and societies to collaborate and get back on track. Sustainability is no longer a ‘nice to have’—it is at very heart to our existence and that of future generations.

In this regard, MMA in association with Bharathidasan Institute of Management, Trichy, celebrated the ‘sustainability week’ at MMA on 18^th October 2022. A galaxy of eminent speakers addressed the delegates. I am happy to present to you an article on this special event with embedded video. Please read on and get inspire. And there has never been better time to start than now!

Gross domestic product (GDP)

The mood in the global market has turned decidedly sombre. The emerging perception is that the world is in the middle of a biting recession. Various indications are already flashing red, suggesting that recession is round the corner. But the Indian economy stands out amid the global economic turmoil. The Indian economy is performing much better compared to the globe, even the IMF had pegged growth at 6.8%; for a large economy of our size, and it’s a respective number. Stability warrants as much attention as growth in these globally fraught times.

In this context, MMA organized a discussion on the theme “Does GDP Growth Reflect the Real State of Economy?” on 27 October 2022. The article of the discussion is presented in this issue. Please read and watch the live recording of the discussion.

Water Futures

India’s has 18% of world’s population with only 4% of its water resources, making it one of the most water-stressed geographies in the world. Climate change is likely to exacerbate this pressure on water resources. Ironically, India faces drought and flood at the same time in different parts. The centrality of water in agriculture, business and human existence makes this scarcity and uncertainty difficult to ignore. Keeping this critical issue in mind, MMA organized a panel discussion in association with Policy Matter on “Water Futures, Tamil Nadu – Pathways for Sustainable Development” on 29th September 2022 at MMA Management Center.

I am privileged to present an article on this important discussion in this issue with video.

Celebrating women who pave the way forward

Women in India contribute greatly towards India’s economic growth and prosperity. As per a recent report, there are 432 million women of employment age in India, out of which 343 million of are employed in the unorganised sector. It is estimated that just by offering equal opportunities to women, India could add USD 770 billion to its GDP by 2025. To celebrate women and their success stories and to inspire them to make a difference, a strong support system is crucial to the success of the women. Women are no lesser than men and they must be given equal opportunities. There will be challenges; however, the right attitude, approach and good education will help them overcome these issues. MMA WBF organises discussion every month on women achievers. The event showcases women who have made a mark in the fields of entrepreneurship, education, social work, arts etc., We are delighted to present an online lecture by Ms Anuradha Das Mathur, Founder & Dean, The Vedica Scholars Programme for Women &
Director, 9.9 Group on the theme “How Gender Benefits Men” on 15^th November 2022.

Kindly watch it online and share your feedback

The Mantra: Innovate or Perish

Disruptive technologies are sweeping the economic landscape. The only way nations can ride out the storm and grow is through innovation. India must put innovation at the heart of its policies and business strategies for national development and economic growth. It is the right time to focus aggressively on establishing an innovation-led economy and creating new avenues of digital opportunities. India needs to leverage the innovation trend to accelerate its growth trajectory and innovate its way to power and prosperity.

In this context, CavinKare in association with MMA has instituted Chinnikrishnan Innovation Awards to select and honour entrepreneurs from all over India who embody the ‘dreamer,’ ‘innovator,’ and ‘ideator’ qualities of this celebrated innovator, the late Shri. R. ChinniKrishnan. The grand awards function was held on 22^nd October 2022 at the IIT Research Park Auditorium, where three outstanding innovators were recognized. The awards function was attended by over 1000 participants, and I am delighted to present article on the awards function with embedded video. Kindly watch and get inspired.

Digital Blockbuster

India is on course to have one of the fastest roll outs of 5G telecom networks. Possibly, some of the biggest gains will accrue to enterprises through Industry 4.0, Machine-to-Machine Communications on 5G networks are expected to over shadow human communications, leading to a paradigm shift in productivity.

For a full 5G experience, bottlenecks now need to be reconciled on priority to achieve its objective.

As always, we would be happy to hear your view, comments and suggestions.

Happy reading!