Report by OdishaInc Bureau, Bhubaneswar: Xavier Institute of Management (XIMB) today hosted eminent industrialists, pioneers across various industries, as part of The Leadership Summit 2013. The distinguished speakers shared their views on the theme ‘Business in Today’s Challenging Politico-Economic Times’, highlighting the important ways in which modern companies are beating the adverse macroeconomic factors to stay competitive and ensure growth.
The panel discussion was moderated by Prof. Biswa Swarup Misra, Dean (Academics), XIMB. He welcomed the speakers and initiated discussion into the topic by providing a picture of the Indian economy post the reforms of 1991 – he split the time into four distinct phases and shared valuable insights on growth with regards to fiscal and monetary stimuli. The first guest speaker, Mr. N.D. Rao, Managing Director, BRPL – Stemcor shared the industry sentiment of a disconnection between statistical and actual growth. He highlighted that the manufacturing sector was the backbone of the economy and that Odisha was lucky to be blessed with immense natural resources. However, bureaucratic hurdles made it difficult to execute Greenfield projects and cash in upon the huge investment potential of the region. He shared interesting concepts like the per capita consumption of steel per person as an indicator of a country’s development.
Taking the agenda forward, Mr. Arun Ramanachandran, Head of Marketing – Aircel spoke of the importance of mitigating policy bottlenecks by innovation and planning. He projected the growth rates of the Indian telecom sector and spoke of the need to convert adversity to opportunity. He further identified 5 factors – MNP, DND, Streamlining Tariff, VAS and Licence fee & Diesel Costs as those that had hurt the industry the most in the recent times. He also highlighted the importance of an organization’s marketing team in understanding new policies and changing customer psyche with changing policies. Mr. K.V.J. Rao, Senior Regional Manager – HPCL, spoke about how the Telangana agitations in Vizag were impacting oil supplies to Odisha, giving a real-time example to the students. He also spoke of policy bottlenecks like Dual Pricing and other macroeconomic factors like the political instability in the Middle East, a volatile currency exchange rate, global petroleum prices and the shutdown of the US Government and how each of these was impacting the petroleum industry.
Prof. Arun Paul, Associate Professor – Operations Management and Decision Sciences, XIMB rounded up the session by highlighting the dearth of indigenous technology in our country and the wide gap in our steel production compared with China. He also spoke of populist policies like the Food Security Bill and how these could pose economic challenges going ahead.
The audience then had the opportunity to participate in an interactive open floor Question and Answer Session. There were pertinent questions raised about the importance of government subsidies on kerosene, the process by which petroleum prices are determined and the role of attracting the right talent to ensure organizational growth. The event was conducted by the Student Executive Council of the institute.
XIMB, one of the most prestigious management institutions in the country, was founded in 1987 with a mission to connect business to society, by developing competent, committed and compassionate leaders who can help build a just and humane society. XIMB offers its flagship post graduate diploma in three streams: Business Management, Human Resource Management and Rural Management.