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BW Businessworld

'How We Grow Is Equally Important'

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Faculty of Management Studies (FMS), one of the premier B-Schools in the country set up in 1954, recently celebrated its 60th birthday. The event was commemorated on March 21, 2015 at Hotel Shangri-La Eros, New Delhi, with a panel discussion on “India’s Roadmap to Global Leadership: Challenges & Imperatives”.
 
The panelists consisted of Rajiv Mehrishi, Secretary, Ministry of Finance; Rajiv Memani, CEO & Managing Partner, Ernst & Young India and Banmali Agrawala,President & CEO,GE South Asia. The discussion was moderated by Raghav Bahl, Founder & Managing Director, Quintillion Media.  
 
Bahl set an optimistic tone to the discussion saying, “India is at the threshold of entering the league of super economies,” countries with GDP growth in double digits.  
 
Rajiv Mehrishi, Secretary, Ministry of Finance, pointed out how a young population, which is actually a boon for an economy, can be a hindrance in the Indian context if health and education sectors are not properly dealt with. He added that the government has launched several schemes but there is a big gap in its implementation. "Is the person who is to benefit from the scheme even getting it?" asked Mehrishi. "On the average, in our public schools, where a Class VII child can't add...(on that education) we spend about Rs 3,000 a month. That's an area that's completely broken and we need to fix that," said Mehrishi.
 
Banmali Agrawala, President and CEO of GE South Asia, commented that India needs to define what it thinks is its definition of success and being a global leader. In India, he says, it is equally important on “how” we grow. Growth rate is not what is important but the growth has to be inclusive, sustainable and should take everyone forward. 
 
Rajiv Memani, CEO and Managing Partner, Ernst & Young India talked about the importance of innovation and R&D in corporate India and emphasised companies that invest in these segments will be the ones to make a difference in India Inc. in the next 15-20 years.  
 
One common theme that Bahl pointed out was the role of the state. “It is now a given that laissez faire don’t work. States have to now become partners in a country’s economic and corporate development.”
 
The event also officially launched the alumni society of FMS, The FMS Forum. “It is in the spirit of Guru Dakshina that this initiative has been incorporated”, says Sunder Hemrajani, President of FMS Forum. 
 
“This forum will help leverage the intellectual capital of our alumni and support the graduate students. The Forum will be an interface so the alumni can engage with their alma mater and also assist and support the graduate students,” concluded Prof Singla.