Cement, Energy & Environment Jan-Mar 2002

The opportunities are enormous provided the Indian mind with openness and with a confidence overcomes the so-called Indian mindset. Courtesy : Saket Industrial Digest, jan. 2002, Pp. 32-35 Email: mail@saketprojects.com Web: www.saketprojects.com POINTS TO PONDER AlMA National Convention Inaugurating the 28 111 National Management Convention of the All India Management Association (AlMA) in Chennai on September 6, Mr. Mukesh Ambani, Vice Chairman and Managir:tg Director, Reliance Industries Ltd., observed that if India educated and marketed one million trained personnel, it could annually earn $40 billion. India has at present 5.5 million managers, which no other country has. However, these managers need to be properly motivated. The developed world is ageing fast and is short of young professionat English knowing managers. In this context, India would do well to invest more on education to achieve global leadership in this sphere. In his keynote address, Mr. K.V. Kamath, Managing Director, ICICI Ltd., said that now is the time for real entrepreneurship as the banks and financial institutions are flush with funds. Mr. Graham Henry, Head, Asia Pacific Accenture, observed that the impact of globalisation is inevitable and irreversible. A truly global company is not bound by national boundaries or its ownership by a nationality. For instance, Nokia, the telecom company located in Finland, is 90 per cent owned by Americans. Companies with customer-driven flexibility and up-to-date technical knowhow are not afraid of change and can continue thriving. Prof. Bhanoji Rao of Singapore said that high growth economies like Singapore, Hong Kong, South Korea and Taiwan rose to their present status by an open investment policy, pushing up the human capability through higher education, training, ;md due reward for hard work. Mr. Sudharsan Sampathkumar, Partner Accenture, presenting the study of his firm on "Manufacturing - the China Factor", remarked .that 50 per cent of the manufacturing industries in India will disappear in five years and only 50 per cent of the remaining companies will make profits. China has improved its per capita income from $75 to $750 in one generation by sheer hard work and promoting highly labour– intensive industries, making toys, rubber products, plastics,luggages, etc., pushing up in the process their share of exports from six per cent to 12 per cent. On the other hand, India could improve its share to 2.4 per cent from 1.4 per cent. Mr. Sampathkumar further said that India is protecting the non-so-efficient 10 million labour force in the organised sector, wi thout caring much for the 100 million in the unorganised sector, who can really take the country to greater heights, thanks to their innate crafts and skills. Almost 65 per cent of foreign direct investment in China is accounted for by low-tech labour-intensive industries. EDITORIAL Editor- Sidharth Sharma How does a nation leave a Global Mark. How a country achieve international success in any economic activity? The comparative advantage theory that emphasis only natur~l resources and other cost factors in a nation' s 75