On Saturday, the 15th of Nov 2008, a symposium was organized in the institute campus. The topic for the symposium was “global economy – will the sun rise”As we are aware of the global meltdown, India is no exception. The depreciating rupee has taken its toll but to what extend was the question for the hour.There were present eminent speakers from the industry to present their perspectives for finance, marketing and HR sessions.
1) FINANCE AND INVESTMENT - HAS THE DOMSDAY ARRIVED?The members present were:
Mr. Jhelum Choudhuri – Director Crystal Research and Consultancy Pvt. Ltd.
Mr. Barun Das, CS &VP (Fin), Exide India Ltd.
Mr. Ujjal Choudhury, Sr. Manager Deloitt &Touche Consulting India Pvt. Ltd.
“The World is in search of newer space and so is India”The speakers emphasized on the fact that at such time our action should not be offensive nor defensive but mutually conservative, i.e. to retain and concentrate on existing sale and realization.Going by the saying “when the fall is sharp – the rise will also be the same”. The only key impediments are transparency and confidence that have to be cultivated as a state of mind and being optimistic about the mid term and long term.The doomsday is yet to arrive.
2) MARKETING STRATEGIES – FOR INDIA INC. UNDER GLOBAL MELTDOWN.The members present were:
Mr. Biplab Bose – Executive Director, Jessop & co.
Mr. Devdatta Palit – AVP – UTI AMC
Mr. Samir Bagchi, Sr. Manager Retail, BPCL
This sector in particular has seen too many downs in the recent past. As the brand loyalty during such time becomes vulnerable, consumer attrition is the biggest problem.Although the manufacturing sector is going through a bad time but innovation is one of the best way out to generate competencies in the market. India has customers at different price levels so the core business focus should be to leverage technology to make new products.The fundamental problem with India is weak political scenario in the present and the past, we need to learn from history, take the risk and go for innovation. We need to think of value addition.
The speakers threw light on the “Blue ocean strategy” which India should follow.
3) WORLDWIDE RECESSION AND INDIAN EMPLOYMENT MARKET – THE CHALLENGES AHEAD
Members present were:
Mr. BJ Mukherjee – Chief People Officer, Magma Fiincomp Ltd.
Mr. Arnab Chakraborty, Head Talent Acquisition Spencer’s Retail.
Mr. Ashok Dutt – GM – HR, ITC, Ltd.
Despite of the key challenges like rise in the cost of capital, appreciating rupee, cities reaching limits of their employment growth, the job scenario in India will remain steady.Any institution on a long-term growth path will continue to hire people despite negative pressure in the market.In addition to the metros the bulk of the job market now lies in the tier1, 2 and 3 cities.It should be noted that although the world economy is facing a recession with Japan soon going to join the list, India’s growth rate has been hit but not by a massive extent.Innovation may prove to be the engine of growth when boom comes.Talent has to be made ‘salable’ and high level of positive ness in innovation is what the HR industry is looking for.
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