Annual National Business Summit, 'Building India Inc', Successfully Concludes at DMS, IIT-D

Annual National Business Summit, 'Building India Inc', Successfully Concludes at DMS, IIT Delhi
Post-event Press-release

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The session started with inaugural address by Prof. S. K. Jain who is the Chairperson of Entrepreneurship and IPR at Department of Management. Studies, IIT Delhi, and spoke about how the current financial crisis is affecting Indian investments and left the podium open for discussion.

The discussion was continued by Mr. Adesh Jain, Chairperson, IPMA, who has led many projects for Government of India. He stressed the importance of 'Managing future, managing uncertainties'. He also emphasized the importance of time saying that the challenge today is to compress time and manage its reaction. Also, in times to come, RoI can be replaced by RoT, where T is for time. He left the audience thinking by concluding with the thought that values and beliefs decide how a nation works.

The next speaker, Mr. Ambuj Jain, who is a Controller, Forex, Jubilant Organosys, provided students with astounding data regarding the world markets. He said that the major markets in the world have come down 40-45% whereas the emerging markets have come down by more than 50%. He also talked about greater volatility, how currencies are depreciating compared to the dollar and how gold, once considered less vulnerable, has also been falling in the present scenario. He predicted immense decrease in world GDP, sharper job losses around the globe, and a long period for the capital markets to stabilize.

Mr. Vikram Thakur, who works as a Senior Manager in the middle market segment of Deloitte, took the discussion forward by considering the perspective of short term fix versus long term planning. He began with Warren Buffet's famous quote - 'Be careful when others are greedy and be greedy when others are careful.' He emphasised the need for the companies to improve operational efficiencies, cost cutting efforts and individual employee performance.

Mr. Amit Khosla, the last speaker of the session, continued with the private equity perspective for managing the downturn. He predicted severe liquidity crunch which is going to stay for next two years and discussed a case to make the audience understand better.

This was followed by a Q & A round where the audience put forth their queries before the speakers.

The topic for the post-lunch session was "Innovation & Quality - Building a Resilient India". The session had Prof. Sushil, the Chair for Strategic Management & Flexible Management at DMS, IIT Delhi, as the Chairperson. He gave an overview of the topic for discussion and declared the session open.

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Contributed by -
Richa Gulati,
Member, Industrial Interaction Committee,
Department of Management Studies, IIT Delhi.

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