CRADLE OF LEADERSHIP Lt Gen Konsam Himalay Singh, Commandant, Infantry School, Mhow, Madhya Pradesh May 1-15, 2017 / `50
Volume 3, Issue No. 04 / Pages 68 / www.corporatecitizen.in
Careers in Banking
Editor-In-Chief’s Choice
Vineet Dhar, Zonal Head, ICICI Bank
Jayalalithaa as a fiction writer
Loved & Married Too
Ankesh and Meetu Goyal Corporate Opinion
Should women be banned fom working on night shifts?
Dynamic Duo: 51 Anjali & Devesh Mukhija
The
Conquering couple
2 / Corporate Citizen / May 1-15, 2017
May 1-15, 2017 / Corporate Citizen / 67
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Pulse of modern India
Corporate Citizen is a plethora of information on all that is happening in the corporate world. There is a kaleidoscope of articles−human interest stories, showcases of entrepreneurial expertise, fitness, spirituality, the budget and valuable words from luminaries. The writing is vivid and detailed in every composition. I was captivated by the contemporary style of reporting on startups, finance and women’s enterprises. The adaptation of books to movies acknowledges directorial brilliance. The magazine captures the pulse of modern India in a global setting. Kudos! —Anjali Sanghvi, Corporate Trainer
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I have not subscribed the magazine, but I make sure that I purchase it and read it. Since the magazine has different categories of articles, the target group is a mix of not only future businessmen but also students and people who are keen in joining the corporate industry. Which I think is a tough task−to put all various kinds of stories under one roof and still be able to create that impact consistently over so many issues. That is commendable. Another thing, which I love about the magazine, is the layout and the paper quality, which is refreshing. I have not come across a single layout or design aspect which is repeated. Kudos! —Chetan Deshmukh, Corporate Trainer
DROP THE LABELS, PLEASE!
There are many magazines that focus on our society lives by stereotypes! Now that we acknowledge that the world and society is constantly evolving, I thought that by now in the professional world the story would be different. As I was growing up, I heard of stereotypes in the professional world like for the role of a secretary, a woman would be best; teaching profession is good for women since they can take care of families well due to better work life balance; a guy is the primary bread earner in a family−a woman’s income is supplementary; it is okay for a man to be aggressive, but if a woman asserts herself, she is aggressive and it is not acceptable. While some of them still remain or their degrees vary, many new stereotypes keep coming in, to add to the professional potpourri! A close friend shared some stereotypes, of which I had not heard of nor did such thoughts ever cross my mind. In the Indian context, one strong stereotype was that you must write a book only after you decide to hang your boots in the corporate world either through superannuation or even
Absorbing in a nice understated manner What I like the best about this magazine is the way the editorial team curates the content−success stories neatly juxtaposed within a humane arc, delving more into the ‘social-side’ of business. (And sigh! Not numbers for a change!) Even syndicated columns, featured contributions and interviews which focus on current “topical hurly-burly of our socio-political panorama” are laid out artfully without weighty or over-opinionated commentaries, leaving you free to contemplate…. all very absorbing in a nice understated manner without being loud or aiming for the print-media equivalent of TRP! — Sreekumar Narayanan, Managing Partner Xpertisehub Risk Management Services, LLP, Bengaluru
before. Another was, if you wrote a book during your corporate career, it is an indication that you want to hang your boots and become an academician! I found them funny. My friend too. That’s why she discussed these stereotypes with me. In my view, any practicing manager may want to share his/her experiences for the benefit of others by writing a book. In fact, they are trying to create a body of knowledge which will be a ready reckoner and help everyone immensely. They straddle between their highly demanding jobs and yet have the zeal to contribute. I can’t understand the connection between authoring a book and retirement or the label of turning an academician! Can you? The society or the world at large has strong perceptions which have become stereotypes. We try to label people and fix them into frames. What I told my friend, is that I find such practicing managers versatile and multi talented, who rise above their so called professional defined roles to make an impact. They are rare and need to be cherished and encouraged. — Aparna Sharma, HR Expert and Author
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May 1-15, 2017 / Corporate Citizen / 3
Guest Column Editor-In-Chief’s Choice
Dr (Col) A Balasubramanian
Jayalalithaa’s tryst with writing Jayalalithaa who served five terms as the Chief Minister of Tamil Nadu for over 14 years between 1991 and 2016, continues to be in news even after her demise last December, for political reasons. Her prowess of the pen, though, is less known
A
Bhagyalakshmi Seshachalam
fter Jayalalithaa died, those who had worked with her (including Bollywood actor Dharmendra, who acted with her in the 1968 hit, Izzat) never failed to mention that Jayalalithaa was a voracious and intelligent reader. Books were her constant companions on film sets. How many know that Jaya was a writer as well? In the 80s, K Rajendran, the then editor of the Tamil magazine Kalki, had met Jayalalithaa. By then, Jaya had retired from acting. Her last movie was based on the novel Nadiyai Thedi Vandha Kadal (The sea that came in search of the river), written by Salem-based writer T K Balasubramaniam, whose pen name was Maharishi.
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For someone−who began her career with Kalyan Kumar in a Kannada film and bagged her first Tamil film with MGR–acting in her last movie with Sarath Babu, then an upcoming character actor, was clearly a great let down. However, her cinematic decline was more than compensated by her successful foray into Tamil Nadu politics. Jaya told Rajendran that she had just finished writing a novel for Eve's Weekly, a woman's magazine published from Mumbai. Rajendran made a fervent appeal to her to write the Tamil version of the novel. Jaya agreed. The result was the novel, Uravin Kaidigal (Prisoners of a relationship). The way Jaya had sketched the characters in the novel was a clear reflection of the aversion that she had developed for movies by then.
The novel was about the love that blossoms between an aging superstar, Rajeev, and a young college student, Usha. Inspired by the real life Rajinikanth-Latha love story (Rajini was Jaya's neighbour), Jaya had written about the first meeting between Usha and Rajeev. Usha, along with her college mates, manages to go to Rajeev's bungalow to invite him as the chief guest for a college function. Enamoured by the beautiful and vivacious Usha, Rajeev agrees to be the chief guest for the function and soon they are madly in love. Unable to resist their physical attraction to each other, Rajeev and Usha have pre-marital sex. Usha becomes pregnant with Rajeev's baby. Rajeev, who until then was a playboy, has turned over a new leaf and is serious about settling down with Usha. In one of the issues of Kalki, a reader had written a letter stating that the previous part of the serial had mentioned that the college had managed to attract 25,000 people for its annual day function. The letter had sardonically remarked, "Tell me editor, which college can attract an audience of 25,000?". Jaya replied that she had only mentioned 2,500 in her story and it was a printer's devil. She also chided the editor for the error. That was Jayalalithaa’s attention to detail. Usha is disturbed about her pregnancy, but Rajeev assures her that she need not abort the baby. He also agrees to meet her mother, Kalyani. Until this point, the story seems to be simple. Now comes the twist. Jaya takes us to Kalyani's past. Kalyani, the only daughter of a rich father, is suspicious by nature and suspects her husband of infidelity. Kalyani leaves her husband without mentioning to him that she is pregnant. She does not leave any trace of her whereabouts. By now, you would have probably guessed that Kalyani was married to Rajeev, who was earlier known by some other name. So now Rajeev has ended up unknowingly impregnating his own daughter. The story, involving incest, ends on a tragic note with both Rajeev and Usha committing suicide and Kalyani ending up in a mental asylum. The novel was published as a serial in Kalki in 1980 and attracted both strong criticism and praise. The Tamil audience could not accept an incestuous relationship. But Jaya's message about the big bad world of films was loud and clear. A few years later, Jaya wrote a novel, Nenjile Oru Kanal (A fire in my heart), which she said was partly autobiographical. A poor girl called Devaki is married off to a playboy by the latter's father, a physician. The man happens to be a drunkard and behaves like a beast with Devaki. He dies suddenly, leaving Devaki to fend for herself and her two kids. With no option, Devaki decides to enter the film world. Even as the serial was running, it appears that there was a misunderstanding between the Kumudam team and Jayalalithaa and the second part of the novel got serialised in Valampuri,
John's now-defunct magazine Thai. That was the last one heard of Jaya's tryst with writing. By the mid-80s, Jaya became busy in politics and, after MGR's death in 1987, she had no time to write fiction. But the fact is that she would have made a name as a writer, given her proficiency both in English and Tamil. Even though she got an honorary doctorate degree, had she pursued a doctoral programme, Jayalalithaa would surely have earned laurels. She was an erudite individual who had a flair for writing and considered books as her companions. I am not sure many can come close to her legendary reading habits. Veda Nilayam, her abode in Poes Garden, boasted of a library housed in a huge room. It is rather sad that despite being an actress of substance, Jaya never got her due as an actress. She acted in so few films and her peak period with MGR lasted barely four years (1966-1970). By then she had exhausted herself acting in so many movies with her mentor. MGR chose the younger Latha, instead of Jaya, for Ulagam Sutrum Valiban (Globetrotting Youngster). It would have been great to read one of the books penned by her in English, the language she was most comfortable with. But that was not to be. (This article was originally published in www.moneylife.in)
Jaya told Rajendran that she had just finished writing a novel for Eve's Weekly, a woman's magazine published from Mumbai. Rajendran made a fervent appeal to her to write the Tamil version of the novel. Jaya agreed. The result was the novel, Uravin Kaidigal (Prisoners of a relationship)
May 1-15, 2017 / Corporate Citizen / 5
Contents 22
Cover story
Dynamic Duo 51
The Conquering Couple A heartfelt conversation with Devesh Mukhija, Director and Country Head at Warren & Brown Technologies and his entrepreneur wife Anjali, who heads a consultancy with a focus on financial markets
09 09 COLLYWOOD
Chatpata Chatter from the Corporate World 13 MANAGE MONEY
Dr Anil Lamba on why attempting to save and definitely evade taxes is a mug’s game 14 WAX ELOQUENT Who said what and why... 6 / Corporate Citizen / May 1-15, 2017
Volume 3 Issue No. 04 May 1-15, 2017 www.corporatecitizen.in
16 THE TAX MAN COMETH S K Jha, former Chief Commissioner of Income Tax on complexities of GST 18 Interview Sukumaran Mariappan, DirectorHR Analytics and Reporting, Trimble Inc., USA, unfolds the nuances of analytics in the HR domain 30 NHRDN Career Fest 2017 The future of jobs: Vineet Dhar, Zonal Head-Retail & Business Banking, ICICI Bank, on career opportunities in the banking sector
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14
30
35 Corporate Trend Workplace Spirituality has become a strategic management tool
36
36 Cradle of Leadership Lt Gen Konsam Himalay Singh, Commandant, Infantry School, Mhow (Madhya Pradesh) on how the foot soldiers for tomorrow are moulded, relevance of infantry today and the age of mechanised infantry 44 Corporate Opinion In the wake of the N A Harris committee report, opinion of corporate leaders on ‘Should women be banned from doing night shifts?’
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46 CAMPUS PLACEMENT Kamta Trivedi shares his campus placement experience 48 LOVED AND MARRIED TOO Ankesh Goyal, Manager (Business Analyst), ISC Software Pvt Ltd and his wife Meetu, GM (Business Development), Oga Technologies Pvt Ltd, on their harmonious journey together
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contents
66 Editor-In-Chief Dr (Col.) A. Balasubramanian Consulting Editor Vinita Deshmukh Assistant Editor Prasannakumar Keskar Senior Business Writer Rajesh Rao Senior Sub-Editor Neeraj Varty 50 SURVEY India Macro View survey of Citi Research to understand the macro economic challenges facing India
Writers Delhi Bureau Pradeep Mathur / Sharmila Chand Bengaluru Bureau Sangeeta Ghosh Dastidar Pune Bureau Joe Williams / Suchismita Pai / Kalyani Sardesai / Namrata Gulati Sapra
54 health Prashanth Nagrajan, co-founder, Qtrove.com, on being active 56 PEARLS OF WISDOM Yoga means to be in perfect tune, says Sadhguru 58 BOLLYWOOD BIZ Corporate Citizen brings you the winners of the 64th National Film Awards
54 58
60 mobile apps Best accessories for your car 66 LAST WORD The opportunities for doing good have become stronger
Be A Corporate Citizen
How do you like this issue of Corporate Citizen - The Cool Side of Business? Send in your views, news, suggestions and contributions to corporatecitizenwriters@gmail.com. We would love to hear from you! 8 / Corporate Citizen / May 1-15, 2017
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collywood
People in the news
I-bankers to have a hand in Tata rejig
Mukesh Ambani personally pledges Jio users
As the Happy New Year Jio’s free offer came to an end, assurance of best services came from none other than the company chairman, Mukesh Ambani, to over 72 million prime Jio users. “Jio will not be free. You will have to pay, but if you pay at least `402, you will get free services for three more months. The money that you paid will be used for a plan only from July 1. Jio prime offers many attractive benefits-the absolute best data tariffs in the industry, free voice calling, access to all Jio apps, and many more periodic surprises going forward,” said a letter from Mukesh Ambani. “I want to personally thank you for choosing Jio, and for being a founding member of the Jio movement. This is a movement to transform India, a move to empower and enrich each one of you with the revolutionary power and possibilities of Digital Life. I assure you that Jio will always be obsessed with serving you and delighting you every day. I am conscious that this is the largest migration from free to paid services in history,” it said.
Tata veteran Subedar to step down Farokh N Subedar, Tata Sons’ Chief Operating Officer will step down from his post this September. Subedar, who is also the Company Secretary of Tata Sons, was given a year’s extension in 2016. Subedar, an old hand at Tata Sons, was the first to become the investment company’s COO. Tata Sons created the post of COO for Subedar in 2010 to reward him
for his contribution towards managing the company’s investments and fund-raising programmes. Subedar will continue to be on the boards of other Tata companies such as Tata Investment Corporation and Tata Asset Management as a non-executive director. At Tata Sons, the retirement age for executives is 60 years, while that for non-executive directors is 70.
Tata Group Chairman N Chandrasekaran is inducting financial specialists to re-configure operations at the $103-billion salt-to-software conglomerate. He has been reaching out to several investment bankers to build his own team at the group’s holding company, Tata Sons. This will see half a dozen investment bankers assisting him at Tata Sons, two of whom have been finalised, in the likes of Ankur Verma, from Bank of America, and Nipun Aggarwal, of Standard Chartered Bank. However, the sources kept the names of other veteran bankers close to their chest, as their appointments are under discussion. These investment bankers, experts in their fields, will oversee the Tata Group’s businesses in their domain areas and advise Chandrasekaran in formulating the strategy for consolidation and divestures. Chandra, as he is popularly known, aims to bracket the group’s companies into industry clusters and then assign each of them to new recruits, who will monitor the financials and operations of the industry cluster assigned to them. This is the first time, Tata Sons under Chandrasekaran is creating a financial specialist role in the company.
May 1-15, 2017 / Corporate Citizen / 9
collywood Most powerful Indians: Modi tops, Yogi enters
New roles for Kanungo, Malvika at RBI Prime Minister Narendra Modi topped the list of the most powerful Indians again, while BJP president Amit Shah was at number two, in ‘The Indian Express Power List of 2016-17’. Arvind Kejriwal has slipped from 8th position to 33, Mayawati, who was at 30 last year is now at 50, and Lalu Prasad is down from 26 to 42. On the other hand, the Gandhis, Sonia and Rahul, may not show as great a fall, from 5 to 9 and from 9 to 10, respectively. Yogi Adityanath makes an entry at 8th position, for becoming the dark-horse Chief Minister of one of the largest states in India, Uttar Pradesh. All those who are on the list are there because of the individuals that they are and because of the institutions and offices that they represent. But the rise in the list of Chief Justice Khehar, from 41 to 4, and the entry of Dipak Misra at 15 and Justice Lodha at 78, owes more to their institution—the judiciary—at a time when other checks and balances on concentrated executive power are waning. How these individuals act on their institutions, steer their course, will determine their ranking in next year’s list.
Malvika Sinha takes charge as the Executive Director of the Reserve Bank of India after BP Kanungo was appointed Deputy Governor, in the recent moves by the apex bank of the country. Malvika Sinha, who was the was Principal Chief General Manager, Department of Co-operative Banking Supervision in the Reserve Bank, has been entrusted to look after the Foreign Exchange Department, Department of Government and Bank Accounts and Internal Debt Management Department, according to the RBI release. Malvika joined RBI in 1982 as a career central banker and served in the areas of regulation and supervision, foreign exchange and government and bank accounts in the bank. Malvika, who holds a Master’s Degree from the
University of Bombay and has done her Masters in Public Administration, is also a Certificated Associate of the Indian Institute of Bankers. Kanungo, as Deputy Governor, will look after the departments of currency management, external investments and operations, government and bank accounts, information technology, payment and settlement systems. Kanungo also joined the RBI in 1982, has worked in several functional areas of the bank such as foreign exchange management, banking and non-banking supervision, currency management, government and bank accounts and public debt. Kanungo, a long-serving official with India’s central bank takes charge for a three-year term. He will replace R Gandhi as one of four deputy governors at the RBI.
Rahul Parikh, new CEO at Bajaj Capital With over 15 years in the financial services companies, Rahul Parikh takes over as the CEO of Bajaj Capital, the country’s premier investment services company. Serving in companies like Aditya Birla Money MyUniverse, Birla Sunlife AMC and ICICI AMC, Parikh would like to take forward the digital retail distribution brand at Bajaj Capital, the new online Mutual Fund Platform, as the company is on the verge of growing its revenue three-fold in the next four years by bringing global wealth management experts on board. Parikh, until
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recently, was spearheading the category creation of the Online Personal Finance Space in India through his role as Head, Aditya Birla Money MyUniverse. Welcoming Parikh, Rajiv Bajaj, Chairman, Bajaj Capital said, “We are pleased to welcome Mr Parikh on board. His experience in the digital domain will support the company’s strategy of combining face to face relationship with Digital Advisory, Transactions and Servicing.” And went on to add, “We are confident that Parikh’s business acumen will enhance our ability to achieve our business goals.’’
Malala, Messenger of Peace The youngest Nobel Peace Prize laureate-Malala Yousafzai-was the first choice, as the UN Secretary-General Antonio Guterres picked up Malala to be a UN Messenger of Peace, the highest honour bestowed by the UN chief on a global citizen. In the process, she also become the youngest ever Messenger of Peace. Announcing this, UN spokesperson Stephane Dujarric said, Malala would focus on promoting girls’ education worldwide soon after she is officially designated. She has shown an unwavering commitment to the rights of women, girls and all people, said Guterres. The 19-year- old, who has been campaigning for the right of all children to education in northwest Pakistan, was severely wounded in a Taliban assassination attempt. Malala became the youngest ever Nobel laureate in 2014, when she was recognised for her advocacy of the right of all children to education. She was 14 years old then. Her courageous activism for girls’ education has already energised so many people around the world, said Guterres in a statement. Other messengers of peace include actors Michael Douglas and Leonardo DiCaprio, primatologist Jane Goodall and musicians Daniel Barenboim and Yo-Yo Ma.
Finally a bidder for Kingfisher Villa in Goa The much talked about the Kingfisher Villa in Goa, Candolim that which was for auction has finally found a bidder. The villa, which was owned by the bank-offender and industrialist Vijay Mallya was sold by a private treaty, to actor-businessman, Sachin Joshi for `73.01 crore. In an interesting twist, this 12,350 square foot villa, situated at Aguada, on Siolim road in Candolim, Goa, went through the hammer twice in recent times, as the consortium of banks led by State Bank of India tried to recover the dues from the liquor baron Mallya, who owed the banks over `9,000 crore. It was in October, 2016, the banks set a reserve price of `85.29 crore for the villa and later in December the same year the bank reduced setting `81 crore, which did not finder a bidder on both the occasions. However, with no buyers, the bank further reduced reserve price, at `73
crore, and managed to get `0.01 crore. Mallya absconded to the UK last May, after being declared a wilful defaulter by the banks for failing to repay the loans in connection to Kingfisher Airlines, which was grounded in the year 2012. Bankers’ consortium led by the SBI had taken possession
of the former liquor baron’s villa in Candolim, which is worth `90 crore. There are number of cases which Mallya is embroiled with. Mallya was declared an absconder by a special court that deals with cases under the Prevention of Money Laundering Act. The villa, which is three acre in area, on the way to Fort Aguada in Goa, was legally owned by United Breweries Holdings, the parent of the airline. The lenders had taken physical possession of the villa in May 2016. The lenders’ bid to auction trademarks, which also includes the brand value of the Kingfisher logo, in August 2016, was unsuccessful. The reserve price for the brands has been set at `330 crore, which, incidentally is not even a tenth of the `4,000 crore valuations it commanded when offered as collateral.
Australian support for Adani project Political allies of Australian Opposition leader Bill Shorten, who has been opposing the 21.7 billion dollar Adani Coal and Mine project, have extended support to the mining giant’s venture in Queensland. A day after Shorten opposed loan to the project, various Australian Workers Unions, regional mayors and Queensland Labor government sought approval for a commonwealth loan for Adani’s project and changes in native title laws. Shorten said he was “very keen to see jobs in mining”, but the federal labour opposed loan to Adani. “But I also have to sound this note of caution: we need the Adani project to stack up. It needs to stack up environmentally, it needs to stack up commercially. I haven’t seen the case made for the taxpayer to underwrite a billion-dollar loan to build a rail line,” he was quoted saying by local media.
May 1-15, 2017 / Corporate Citizen / 11
collywood It’s a switch! Kharat now at Indian Bank!
It looks like a give and take policy, as Indian Bank and IDBI exchange their MD and CEOs. Kishor Kharat, former MD & CEO of IDBI takes over at the Indian Bank, while Mahesh
Kumar Jain, formerly at Indian Bank will take control of IDBI Bank as its MD and CEO. Kharat, who was with the Union Bank of India from March 2015 was elevated as the Managing
Director and CEO of IDBI Bank in August 2015. In his brief stint at IDBI Bank, Kharat served IDBI Capital Market Services, IDBI Asset Management Ltd and IDBI Trusteeship Services Ltd as Chairman. He has held various responsibilities including Chairman of the Governing Council of the Entrepreneur Development Institute of India, Ahmedabad. He began his 37-year banking career from public sector Bank of Baroda, and was instrumental in the establishment of the foreign subsidiary of the bank in Trinidad and Tobago, West Indies. Kharat is a member of the Reserve Bank of India Committee on Financial Inclusion and is currently the Alternate Chairman of IBA (Indian Banking Association) Standing Committee on Risk Management and Basel Implementation. A graduate of Commerce and Law, Kharat also holds a degree in Master of Business Administration. He is also a member of the CII National Committee on Banking.
Awasthi, Nomura India head
India head of equities business Prabhat Awasthi takes over as country head of Japan-based Nomura, while Vikas Sharma, who is currently head of India, has been elevated as head of Asia, excluding Japan. Awasthi, based in Mumbai will report to Sharma, and will be responsible for running Nomura’s India franchise spanning fixed income, equities 12 / Corporate Citizen / May 1-15, 2017
and investment banking. Sharma took over from ToshiyasuIiyama, according to a release issued by the firm. In another move, the firm has also named Rig Karkhanis as Head of Global Markets, Asia excluding Japan, and Chairperson of Global Emerging Markets Executive Committee. Awasthi, with over two decades of experience in the Indian equity markets, assumed his current role at Nomura in 2011. He joined Nomura in October 2008 as head of equity research, India, from Lehman Brothers, where he held the same position. Awasthi was a founding member of Brics Securities institutional broking business which was acquired by Lehman Brothers in 2007. Previously, he also worked with JP Morgan, Morgan Stanley and CRISIL where he began his career in 1994. Awasthi holds a degree in Electrical Engineering from the Indian Institute of Technology, Kanpur, and has completed his MBA from the Indian Institute of Management, Lucknow.
Lifetime award for Kerkar Ajit Kerkar, Chairman of V Hotels, was awarded with the 2017 HICSA Lifetime Achievement Award for his outstanding contribution to the industry. The award was presented during the annual Hotel Investment Conference-South Asia (HICSA) held at Grand Hyatt in Mumbai, recently. Hospitality veteran Kerkar began his innings as Catering Manager with the Indian Hotels Company (IHCL), best known as the operator of the Taj Hotels in 1962, and within eight years became the first professional MD in 1970. He has been the leading light for the Taj Group for over 35 years and still associated with it over the succeeding 29 years. An alumnus of Hotel Management and Catering Technology, UK, Kerkar was handpicked by Darab Tata, the younger brother of then Tata Group Chairman JRD Tata to join IHCL. During his incumbency with the Tata company, he transformed Taj from a single unit to a chain of 60 hotels. After his retirement from IHCL as Chairman and MD in 1997, he turned consultant. He is now associated with Cox & Kings, which is a product of his children Peter and Urrshila, for its hospitality play. Compiled by Joe Williams joe78662@gmail.com
manage money Dr Anil Lamba
Why it makes sense to pay taxes
If we have to pay the Income Tax, the cheapest and the best way of paying is the original way. Attempting to save and definitely evade taxes is actually a mug’s game... In the previous edition, I had signed off with my opinion that any attempt at saving/evading tax is more expensive than the payment of tax. In this segment let me try to elaborate on that statement. To do this, we must first understand from where and how the government gets its money and how it is spent. The government’s budget: Each year the government presents a budget, which lists out the expected receipts and expenditures for the coming fiscal year. A country’s receipts are chiefly comprised of two components: earnings and borrowings (or revenue receipts and capital receipts). Governments earn money from taxes (both direct and indirect). A nation’s borrowings can be further categorised as internal and external. When you and I deposit money in a PPF account, or invest in National Savings Certificates or even buy an insurance policy from the Life Insurance Corporation of India, we have lent money to the government (internal borrowings). Loans taken from IMF, World Bank etc constitute external borrowings. Similarly, expenditures are classified as revenue and capital expenditures. The former comprise expenses of running the government, payment of salaries, maintaining the police force and the army, and, of course, interest on loans taken. The latter include developmental expenditure, that on construction of roads and bridges and airports etc. The government’s spending appears to be independent of its income. One often gets a feeling that the persons in-charge of spending and those responsible for generating receipts are separate groups, perhaps not on talking terms with each other. Consequently, the balance between receipts and expenditures is rarely achieved. If the planned receipts and the planned expenditures match, the budget is called a ‘balanced’ budget. If the receipts exceed the expenditures, it would be a ‘surplus’ budget; and if the budgeted expenditures are greater than the budgeted receipts, it would be called a ‘deficit’ budget. I don’t think any of us will recall seeing the first two types of budgets −the balanced and the surplus types. What we get to see year after year are ‘deficit’ budgets. What is the fundamental difference between budgets made by you and I and the ones made by the government? You and I cannot have deficits, but governments can. What do I mean by that? Why can’t we have deficit budgets? Can’t we earn `100 and spend `120? Yes, we can; we can borrow `20. But what we cannot do is spend more than what we earn AND what we borrow. A government’s deficit budget means its spending exceeds both earnings AND borrowings. How can it do that? Because the government also happens to own the country’s printing presses. So when it finds that it needs to spend, and doesn’t have the money to do so, then orders go out to the printing press to print more currency notes. When governments print money to meet expenditure, that phenomenon is called ‘deficit financing.’ Do you and I pay a price for this tendency of the government to print money to spend? Yes, we do. The fall-out of deficit financing is inflation. Why is deficit financing inflationary? Just because the government needed to spend and created money to do so, why does it lead to an increase in the price of the bread at the bakery? This is because price is a
function of demand and supply. If the demand for a commodity goes up, the price goes up, unless it is accompanied by an equivalent increase in the supply of that commodity too. And vice versa. If the supply of something increases, the price falls, unless there is a corresponding increase in the buying power. For price to go up or down there has to be a unilateral increase in either demand or supply. When the buying power of people goes up because they have worked harder and therefore earned more, it is non-inflationary. This is because their buying power has increased by producing more goods and services. So if on the one hand there is more money to spend, on the other there are also more goods and services to buy. However, when the government prints money and spends, there is merely an increase in the supply of money, without an increase in the supply of goods. More money is now chasing the same quantity of goods and is therefore inflationary. Why should we pay taxes? At the beginning of this article I had mentioned that a government’s spending is independent of it receipts. It makes a certain estimate of where the money will come from and where it will be spent. Let’s say, the government is expected to collect ‘x’ amount from Income Tax. And, due to tax evasion on the part of some people, the government actually collects less than ‘x’. Do you think it will not spend? If Income Tax collection falls short, it will introduce another tax. If direct tax collection is insufficient, it will increase the rate of some indirect tax. What is the difference between a direct and an indirect tax? Direct taxes are those, which are collected by the government from you. For example, Income Tax. Indirect taxes are those which you pay to someone else and that person pays it to the government. For example, Sales Tax. I would any day prefer to pay direct than indirect taxes. This is because direct taxes can be collected according to the ability to pay. For instance, Income Tax. The government can tell one person, your income is too low and there is no need to pay anything and tell another person, since you are relatively richer, you must pay at a higher rate to make up for those that can’t. However, indirect taxes hit everyone uniformly. If you buy something from a grocery shop and pay `10 as Sales Tax, a beggar wishing to buy the same item will also have to pay `10. And if the government still cannot manage to collect the required amount, it will resort to printing of notes which will result in inflation and reduction in the value of our money. What I’m trying to say is that, eventually it is you and I that have to pay. And if we have to pay the Income Tax, the cheapest and the best way of paying was the original way. Attempting to save, and definitely evade, taxes is actually a mug’s game. One has spent all that time and energy (and maybe lost one’s peace of mind in the process too) and in the end gained nothing. There is an even more sinister dimension to tax evasion, which I will dwell upon in a subsequent module. (to be continued) Dr Anil Lamba is a practising chartered accountant, financial literacy activist and an international corporate trainer. He is the author of the bestselling book ‘Romancing the Balance Sheet’. He can be contacted at anil@lamconschool.com May 1-15, 2017 / Corporate Citizen / 13
wax eloquent
Quantum leap in development
Take a look at what our corporate leaders have to say about recent trends and their experiences in the business world
Re-orient to lead
Karlheinz Blessing,
“The biggest challenge is transforming legacy organisations to modern vibrant youthful organisations. Getting the right people on board is key. We have to re-orient the organisations to lead and that’s the big shift that all of us need to make. Businesses are all about giving convenience to the common people.”
Courtesy: http://www.dnaindia.com
Courtesy: http://www.livemint.com
Leadership culture
“Good ideas are worth nothing if they fail because of structural blockades. Not only the values must be right but also the structure.” human resources chief, Volkswagen
Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group,
Competition is the only way to control prices “At the end of the day, competition is the only way to control prices. The way to control what one private company does is through another private company. And these kind of moves (setting up an anti-profiteering body in GST) are retrograde; it violates spirit of competition and confidence in market and industry and trade in general.” Naushad Forbes, co-chairman, Forbes Marshall and president, CII president
Courtesy: http://www.asianage.com
To manage growth
“Teams that expand too rapidly and spend too aggressively usually run out of capital before the return-on-investment is proven, whereas teams that under-invest are usually beaten by hungrier competition. This balance is achieved only after ruthless prioritisation and learning from multiple signals in the ecosystem.” Pranav Pai, founding partner and chief investment officer, 3one4 Capital Courtesy: http://www.livemint.com
14 / Corporate Citizen / May 1-15, 2017
Be nimble and open to changes “You need to be nimble and open to change. We have always changed any adversity into opportunity. So in a sense for us it has been a series of new beginnings. Anyone who is not nimble enough to accept changes won’t survive and that is true for every business, not just law firms.” Cyril Shroff,
managing partner, Cyril Amarchand Mangaldas Courtesy:http://www.livemint.com
Building flatter organisations “I am a strong believer in building flatter organisations, because I’ve always believed that every generation is smarter than the previous one. A hierarchical setup undermines the ability to learn from one another.”
Customer insight is a rocket science
“Organisations that are good at customer insight, good at forecasting what the customers of the future would want, would have the advantage. Customers insighting, to me is a rocket science, we could get away five years back but not now. We have got to learn the science.”
Sudhanshu Vats,
Rajan Wadhera,
Courtesy: Mint
Courtesy: www.economictimes.com
CEO, Viacom18
president, Mahindra & Mahindra
Multinational ego
“It is a case of multinational ego. The tendency among multinationals is that the way they think, their interpretation of the law, cannot be wrong. They feel they have the best of brains and the best of lawyers. And they think companies like ours are from the villages so we wouldn’t know anything.” R S Sodhi,
MD, Gujarat Co-operative Milk Marketing Federation Courtesy: http://www.livemint.com
Stopping immigration is quite outdated in recent times
Can-do spirit in India
“India has shown in the last couple of years that it can, not only grow at a considerable pace, but also develop and implement (schemes for) a quantum leap in development. Now we can sense a certain can-do spirit in India. And this is encouraging for us. Also India and EU are in the same situation.” Werner Hoyer, president, European Investment Bank
“Globalisation is based on free movement of goods, services and persons, as this is the only way integration can take place. Stopping immigration on grounds of employment is analogous to countries restricting imports based on the home-industry argument, which, admittedly, is quite outdated in recent times.” Madan Sabnavis,
chief economist, CARE Ratings Courtesy: wwwfinancialexpress.com
Courtesy:wwwfinancialexpress.com
Today’s requirement is here-and-now “We are living in a quick-service restaurant world. Whether it is an 80-year-old gentlemen or a 20-yearold employee, the requirement is ‘here and now’. Instant is an outcome of multiple efforts. There are two elements—one is availability of technology, second is the science behind it.” Shyam Srinivasan, MD and CEO, The Federal Bank Courtesy: Mint
Investing is like planting a mango tree
“Investing is like planting a mango tree. You have to plant a good seed in fertile land. You need to water it regularly and remove the weeds. You need to give it a period of 12 years before you can taste delicious mangoes.” Nilesh Shah,
managing director, Kotak Mahindra Asset Management Co Ltd Courtesy: Mint
To remain relevant “If you want to be relevant, you should reorient yourself rather than lamenting that you are not relevant any more. You need to be thinking ‘how do we build business where there are none today?’ Also, you ought to work with bright youngsters and great talent; that enthusiasm rubs off on you.” Madhukar Kamath, outgoing group CEO and MD, DDB Mudra Courtesy: Economic Times
I’m a modest businessman “Money is not everything in life. But only someone who is wealthy can make such a statement. For the guy who doesn’t have money, accumulating wealth is of foremost importance. Our business is speculative in nature. So, one must always have a Plan B. I’m still a modest businessman.” Jeetendra (Ravi Kapoor), actor and chairman, Balaji Telefilms, Balaji Motion Pictures and ALT Entertainment Courtesy: Pune Mirror
Working in the West
“I am very well aware of my home and my roots, so that’s never going to change. I look at it (working in Hollywood) as an extension of my creativity and the ability to work in a different environment with different people.” Deepika Padukone, Actress
Courtesy: http://www.businessstandard.com
Compiled by Rajesh Rao rajeshrao.rao@gmail.com
May 1-15, 2017 / Corporate Citizen / 15
The Tax Man Cometh-23
Our life is complex and so are our taxes
(IRS (retd) and former Chief Commissioner of Income Tax)
here is a belief that tax laws are cumbersome. It is not untrue. Laws relating to direct and indirect taxes are good playgrounds for advocates and chartered accountants. For each word in tax legislations, there is a plethora of case laws, explaining the meaning of that word. Litigations do not stop until the Supreme Court gives a verdict on the meaning of the word. There are case laws relating to the use of comma, full stop and conjunction in the provisions as they are seen to affect the intent and meaning of the provision. Take the case of central excise duty levied on coconut oil. This duty is levied on the classification of the final product. There has been much litigation on this issue as one view was that coconut oil is edible oil, while the other view was that it is a cosmetic product. The incidence of excise duty on cosmetic products was higher compared to the duty on an edible oil product. It took a lot of time and litigation to resolve the issue.
Court in the Vodafone case, is one such example. The proposed GST law is a big attempt to rationalise indirect tax legislations of the central and state governments. There are several reasons for enacting GST, but a big reason is to simplify present laws. There are multiple laws today at the centre and the states, which adversely impact the ultimate consumer, the intermediate traders and manufacturers. Traders and manufacturers have to comply with the requirement of different state laws while also complying with central legislations, thus creating a cascading effect on consumers. GST is being brought in to save people from this problem, and hopefully it will come into force from July 1, 2017. GST is to give us ‘one nation, one law’ and it has been heralded as the most important tax reform after independence. It is true that GST is an important milestone in the history of tax legislation (indirect tax) and it is presumed that a lot of good will happen, such as reduction in inflation, reduction in corruption, reduction in black money, increase in GDP and widening of the tax base. But one question being raised in knowledgeable circles is whether it will really resolve the perennial problem of complexities in tax legislations. Will it simplify our laws?
Much to argue
Not so simple
Unlike the regular tax desk which is manned by a tax officer whose job is to levy tax on you, this desk is manned by a non-serving tax officer who wishes to share his experience of 35 years in the tax department, while, discussing tax provisions. It is advantageous to know how the tax department thinks and acts when, as said by Benjamin Franklin, “In this world nothing is certain except death and taxes”
T
In the case of income tax, there is much litigation over the meaning of the word ‘Income’, which is the basic word in the Income Tax Act. Litigation still continues based on the facts of each case depending on whether a particular receipt of money is taxable revenue receipt or a capital receipt. The battle continues not only between taxpayers and tax departments but also between the legislatures and the judiciary. Many a times, the legislature amends the provision of the law only to nullify the impact of a particular judicial decision. The retrospective amendment of the Income Tax Act, which attracted severe criticism in the aftermath of the decision of the Supreme 16 / Corporate Citizen / May 1-15, 2017
From a preliminary glance at GST in the making, the picture does not appear to be very rosy on the test of simplification. Instead of one tax rate with meaningful exemptions, four rates of 5%, 12%, 18% and 28% and many exemptions have been contemplated, which goes against the very core of GST. Multiple tax rates are further saddled with a central cess on super luxury items and some in products like high-end value cars and tobacco products. Then, food grains are outside the GST basket. The intention, as explained by the Finance Ministry, is not to tax hawai chappal and motor car at the same rate. The intention is laudable, but one thing is sure, it will not help the
core idea of simplification of the law. So far the products have not been specified vis-à-vis the four rates and once it is done, the Pandora box of problems will open. Depending upon the usage of the product, each product will cry to fall in the softer tax bracket. For example, a refrigerator. It is an utility appliance today and a case may be made for it on this ground. At the same time, there can be a case against it, considering it as a luxury item since many poor cannot afford it. It is not possible to specify every product in the tax rate schedule, it is the class of products which is mentioned in the schedule, and here the problem starts: fighting for a lower tax when there is more than one tax rate. Tobacco contained gutka is undoubtedly a sinful product, attracting 28% tax with cess, but here also there can be litigation on the ground that the tobacco content is less than 5%, and that the product is mainly a betel product used as a mouth freshener. Many may accept the high rate of 28% but
Illustration: Sumeet Gupta
by S K Jha
Our life is complex, and so are our taxes. This has led to varying interpretations, much dispute and litigation. GST, the new set of indirect tax laws intended to simplify them, will bring its own set of ambiguities and complexities
will oppose the central cess. In short, multiple tax rates will generate more litigations and waste the time of both the government and taxpayers.
‘Service’ complexities
As per the present understanding of GST legislation, service providers will have to get registered in each of the states where they provide the services. Service providers like banks and insurance companies, who operate in all states will have to get registered in all 29 states and then follow the procedure, like filing returns. The core theme of GST, of one window interaction, thus gets defeated and raises multiple procedures. The initial view of the central government for the service
sector was for one registration with the central government only, but it was not acceptable to the GST council. Also, there are anxieties in the case of service providers who presently fall under the negative list (Section 66D of the Act) like education, skill development, etc., and thus exempted from tax as the law so far available is silent about it, though the Revenue Secretary has recently given the assurance that the present exempt services will be kept exempt under GST. It is hoped that the present doubts will be addressed by the GST Council.
How to value products?
The other complexity which may arise is in the context of valuation of the product, particularly in respect of free supplies between related parties. The GST law proposes to tax any free supplies between two related parties. The problem may arise when related parties are located in different states. Since there is no centralised registration under GST, a compliance problem can arise. If stage one of the goods is manufactured in Pune, stage two in Hyderabad and stage three in Ben-
galuru, how would a company value the goods at three different stages? The GST law does not give a formula for valuation and it could cause dispute between manufacturers and the department.
Who controls?
The other issue of procedural complexity is in the context of administrative control on taxpayers. To avoid dual control, the GST Council has reached a compromise formula-90% of tax to the states for those with annual turnover of `1.5 crores or less who will be assessed by the states, and the rest by the centre. For those with a turnover of over `1.5 crore, the states and centre will share equally. This solution has its own problems. If an entity with a turnover of less than `1.5 crore in one year, posts a turnover of `1.5 crore in the following year, who would be the authority to take over the assessment? And how will existing investigations, if any, against the entity be addressed and by whom? These procedural issues need to be addressed. Otherwise they will lead to unnecessary litigations. The GST has proposed to incorporate a provision of anti-profiteering. The intent is noble as it protects the interest of the consumer. The lawmakers have visualised a situation when big corporate houses may have to pay lower indirect tax after GST, compared to the tax they are paying now. The lower rate tax after GST should go to the consumers by reducing the selling rate of the product. But there can be cases where corporate houses do not pass on the benefit and retain the benefit for themselves. In such a situation the anti-profiteering provision will apply. However, it may add to some complexities and lead to litigation. The provision is not specific about valuing the benefit retained, as the selling price of a product is not connected to taxes, but also to the cost of raw materials which is subject to escalation. This will give rise to difference of views and in the absence of rules for the quantification of the benefit, there may be a lot of confusion. Further, as the new law is being launched in the middle of the financial year, there will be problems relating to succession from the old law. There will be many mistakes, both by the tax departments of the states and centre on the one hand and taxpayers on the other. Many small traders are not computer savvy and this may add to the problem in the supply chain. No doubt GST is good, but we cannot say for sure that complexities in indirect tax will be fully done
away with. On the contrary, it is feared that taxpayers may face a lot of problems, at least during the initial transition period. The government is fully aware of the complexities in tax legislation and realising this in the domain of direct tax, a simplified format for Income Tax Returns has been released before the expiry of FY 17. The complexities continue to remain, as new provisions keep on adding to the existing law to plug the loopholes. In the budget passed this year, a new law has been incorporated to take severe penal action against cash transactions of `two lakhs and above. As per the amended Income Tax Act, violation of the law will attract a penalty of an amount equal to the cash transaction amount. The new provision is a measure against tax evasion and thus good, but it will add to the problems of taxpayers particularly when taxpayers are not aware about the new provisions. Taxpayers do not feel happy paying Income Tax from their hard-earned income and the complex provisions and procedures make the situation more painful. Due to the complexities, taxpayers have to spend further on consultants and advocates in addition to the actual tax. Our life is complex and so are our taxes. Taxes depend on what we earn, or what goods or services we buy. Our psychology is to hide our income fully or declare less income. While buying goods or services, our psychology is to save on cost by not taking bills, and thus avoid the tax. Sometimes, manufacturers take out the goods from their factories without paying excise duty to increase profit. Due to such situations legislatures get constrained to take hard measures and enact harsh provisions.
‘New measures by the legislature do not help the situation. On the contrary, they generate a chain reaction of more laws and more tax evasion. The victims are our tax laws which get saddled with complexities’
Chicken and egg
Sadly, new measures by the legislature do not help the situation. On the contrary, they generate a chain reaction of more laws and more tax evasion. The victims are tax laws, which get saddled with complexities. The nation suffers, as ease of doing business suffers due to the complicated tax laws. Foreign investors think twice before investing due to the complex tax laws and frequent amendments to them, which sometimes are retrospective. If we want to improve this, the first change should start from us. Let us decide to pay our taxes correctly, both direct and indirect, and we will see our tax laws becoming simpler. It is like when doctors do not need to prescribe medicines when patients have recovered. May 1-15, 2017 / Corporate Citizen / 17
Pics: Sanjay MD
Everything will become analytical and we have to make sure that all analytics are technology enabled. I see the adoption of analytics multiplying ten-fold in the next five years. We can apply the concept of people analytics in our everyday life
18 / Corporate Citizen / May 1-15, 2017
Interview
Bridging
Intuition with Insights
A Human Resource (HR) business partner for 15 years and a strong advocate of HR Analytics, Mr Sukumaran Mariappan, Director-HR Analytics and Reporting, Trimble Inc., USA, unfolds the nuances of analytics in the HR domain. Besides trends in data crunching within corporate houses, he also believes in keeping intuition alive based on meaningful insight for measuring people and performances in today’s tech-driven Human Resource Management (HRM) By Sangeeta Ghosh Dastidar
H
is life unfolds his strides emerging as a young lad from Cuddalore in Tamil Nadu, starting his career in Coimbatore, traversing many a milestone in Chennai to reach qualifying heights in Colorado, USA. Starting out with Lucid Technologies & Solutions as Business Unit HR Executive (Coimbatore), he moved as founder member and HR Manager with Virtusa (Chennai), followed by his role with Amazon.com as HR Business Partner and Talent Sourcing/RPO Program Manager. He joined Trimble Inc, USA, eight-years-back at Chennai, relocated to its US base at Colorado, and is now Director, HR Analytics & Reporting. Sukumaran Mariappan or ‘Suku’ as he is fondly known, has worked across diverse cultures including the Middle East and Thailand. His career is interspersed with experiences of acquisitions and transitions that helped integrate personnel and processes within merged entities. “To be successful in any global company, we need to leverage the 3Cs−Connection, Credibility (who you are, what you can deliver) and Contribution (adding value)−in that order. If you contribute before you build your connection and credibility, the outcome of recognition or contribution will be limited. Once you have built your relationships and your credibility, that is when you should contribute−then even small contributions will beget higher recognition and value,” says he. Sukumar acknowledges his rise in life owes to all who enabled his entire journey. “I learnt that building credible
professional relationships without any expectations helps in professional development. You never know who can make a positive difference in your life.” Sukumar’s thirst for excellence came from his father, Mariappan Subramanian, who journeyed from being an oil shop vendor’s assistant to a small business merchant in Cuddalore. Hailing from a small village, 70 kms from Madurai in Tamil Nadu, his father, despite being a 5th grade dropout, worked in ‘rice mandis’ before moving to Cuddalore. He then began manufacturing face powder for rural people. Despite tough competition from big brands, he would convince wholesalers and bangle shopkeepers to stock his product. “Probably a lot of my attributes come from my father because he used to talk about those difficult days of his life,” reminisces Sukumar.
Some excerpts from the tête-à-tête: Did hailing from a small town trigger your hunger for life?
Cuddalore was a small town, but that helped me to rely more on my social skills. I was a very active member of Leo Club−junior wing of the Lions Club. I bagged the ‘Outstanding Secretary for the District’, and my association with Leo gave me a lot of opportunities to connect. During 1994-98, I managed to connect with several industry folks. Thankfully, it was also a boom period as a lot of companies had set up their factories in SIPCOT Industrial Complex, Cuddalore. Therefore, I could, connect with many executives, directors May 1-15, 2017 / Corporate Citizen / 19
Interview and HR managers, through the Lions Club. I understood the true meaning of networking at that time. I got first-hand knowledge about their jobs, their training and skill sets.
Did the networking in the early years of your life steer your future course?
I started training others as I finished school in 1995. Around that time, my father lost his business and despite securing admission to an engineering course, I had to settle for a B Com degree. I did not want to be a burden on my father by joining an engineering course. Ours being in a small town, my father’s tough financial situation became known to a few. Thanks to the network that I had built up with Leo Club, Lions Club members Sekaran and Premalatha Sekaran approached my parents about my future. They came home one day when I was about to finish college (1997-1998) and over dinner told me that they were keen that I pursue higher education despite my father’s financial situation and offered to sponsor my Master’s degree and all educational expenses. My father and I were initially surprised. However, my father was very open-minded and said, “Why Not”! Their timely help and the money they spent made a big difference to me.
What attracted you to strategic HR?
I was aware of appraisal systems even during my under-graduate days and I owe it to N S Iyer, (Retd.), who was GM-HR with Asian Paints, Cuddalore. He introduced me to HR terminology. Thiagarajan Mahalingam−an IIT B Tech and M Tech (Chennai) alumni and co-founderMD of Omnicast Precision Pvt−became my mentor. I look up to him as a professional role model and a father figure. We too got connected via Lions Club. I used to bother him a lot during my undergraduate days. I wanted to listen to him; I didn’t even write good English those days. He made me read and write form the Thirukkural or the Kural−a collection of 1,330 Tamil couplets. Several HR leaders and business leaders like Srinath Jagannathan, T N Hari and Bryn Fosburgh, whom I worked with, enticed me into the world of strategic HR. I invested a lot of time and money to listen to leaders and I grew in my career faster by learning from them.
How was the transition from Cuddalore to the Madurai Kamaraj University (for Masters in Information Technology)?
I was neither aware nor prepared for MBA or competitive exams like CAT needed for Tier 1 institutes. Then I came across this industryinstitute collaboration course. It had the entire syllabus mapped to what was then the latest in a general management course. But the problem was, there was no specialisation in that course. It linked Information Technology with general 20 / Corporate Citizen / May 1-15, 2017
management. The idea was to train managers with IT skills and IT people with managerial skills. There were seniors who excelled in software development. But, I opted for HR. I also desired to join an MBA and do an HR course because, then my only understanding of HR was that I was ‘very good with people’ and ‘had done a lot of teaching and training’. While pursuing my graduation, I used to teach in schools.
How easy was it to get the first job?
My first job was with Lucid Technologies & Solutions in Coimbatore in 2000. It was a small company those days. While they wanted me on board, I had offers from seasoned companies like Polaris and KGISL also. Polaris could have been
Trimble. My passion is to transform−look at the mission that I am working on and to transform the way HR provides strategic support.
What is the one prime challenge you faced while transitioning companies?
The talent war is everywhere. The problem is the same, irrespective of the size of the company. While companies are seeking good people, employees look for very clear value propositions from HR on what the company will offer as ‘value’ for hiring them. It is important for companies to apply their logic and offer a clear value proposition. In Lucid Technologies & Solutions, we had difficulty hiring seasoned senior people because it was a small company and in those days (1999-
The interesting aspect of analytics, data and insight is that you have some algebraic modelling and say this is how the future is going to be and that is definitely a goodbad effect. If we fine tune that data model, then our prediction can be different the predictable choice as Lucid was a startup then. I evaluated as to which one would be good for me in the long run though I told Srinath Jagannathan, the MD of Lucid Technologies that “I will be leaving the decision to my mentor”, and if it was “okay if my mentor will call and talk to you”. Such a thing is impossible today. Thiagarajan spoke to Jagannathan for 45 minutes and he then advised me to join Lucid saying I would learn everything needed in HR there.
What has been your HR career graph?
I left Lucid to join Virtusa in Chennai in 2004 and was one of its founding members for global business and IT consulting. I was with them for four years . Then I left to join Amazon as an HR business partner. I eventually became an HR program manager there, holding responsible for the RPO engine. I left them within one and a half years, looking for a more challenging and dynamic environment. Then I got the opportunity with Trimble in India. I started with Trimble as Head of HR in Chennai, then moved up as head of HR (all India) then Head HR (SAARC), Dubai and Thailand. I moved to Colorado four years back as Director of HR−a business partnering role. In the last one year, I have moved on to manage data and insights and HR Analytics with
2000), the ‘Infosys’ and ‘Cognizants’ of the world were hiring in big numbers. Nobody was willing to join a small company. So, we created a model to hire the best college students, get them trained on things that their peers would be equipped to do five years hence. We got them ahead of the learning curve and gave them the opportunity to do things in a manner that they could position themselves as doing superior work compared to their peers in large companies. We appraised them every quarter. As a cohesive small team, we focussed on the mission. We could not increase salaries like other corporate units. Therefore, we handpicked an elite group of people based on their performance and this elite group changed every year. We rewarded this group with two additional components, besides their pay packs by introducing performance incentives (goal driven) and employment incentives, (duration of stay in the company from day 0). Net, the total package was equivalent to what large companies could offer. Thus, we could retain top talent in the small company in a very systematic way.
What was your learning on talent retention?
Hire the best people, train them a lot, and have them do more than what they can do to deliver outstanding results. In my experience with Lucid,
we observed that we were able to get a lot from employees even if they stayed for under three years. They were willing to do multiple things from day one. We had a dynamic team. Whether that model will work now, I have my own doubts, because expectations and work ethics of people from a small company are different now. I am talking of 16 -17 years back when we had this as the success model. Virtusa was a growing MNC and we had to hire the best brains in Chennai−top-notch people from large companies and get them to influence and bring in other people. We built a strong founding team. In a small company, you have to go hands on and think out-of-the-box to retain and hire people whereas for larger entities, the
What is the biggest challenge in analytics?
There is lot of data available outside and within any company. The biggest challenge is that analytics, as a whole, has been evolving a lot in the last few years. In the US too, it is picking up only now. However, the maturity level of HR analytics even amongst US companies is low. In India, we have been talking about it for some time now, but very few companies have actually matured their HR analytics to the next level. Here, I am not talking about descriptive analysis, or HR metrics or balance score card. The idea of measuring people-activities and its impact started in the late 1970s. From the 1970s, people said we can measure people-behaviour and that assessment is important in the future too. From there, we have now moved on to HR metrics and about metrics for people-function as key performance areas. Thereon, people started connecting it to business and tabbed it as the ‘balance score card’. Those have existed for several years now but pure analytics is still maturing. Organisations have done a lot of interesting analytics, but the adoption of analytics in truly gaining business value is still to mature. Building HR capabilities to do credible analytics that makes absolute business sense and create higher business value is the biggest challenge now.
Can human intuition and analytics co-exist?
brand and the value proposition is prime. The brand can make it easy, but you need to offer a different employer value proposition. In a midsize company, it is very different. But everywhere the talent war exists and we have to focus on what we can do to have happy employees.
Why are data and related insights becoming so relevant today?
There are lots of perceptions and opinions in large companies and how do we clear all this air? It can be done only via some credible data and insights. Sometimes, decision leaders will question the solution given and seek supporting information or evidence that will influence their decision based on our HR or data inputs. Also, the solution given should not be blindly followed because the HR said so. Business partnering can be done in an authentic way only with data insights. HR business partner should be analytical, and have data and insights to interpret the data and present it in a form that business leaders will understand quickly to arrive at meaningful decisions. The idea is to use data and insights as a base for people-led decision and drive a data driven culture. Anybody can give an opinion, but if it is not supported by data and insights, it is a mere opinion.
Both business leaders and HR leaders have their intuitions. As a person with 16 years of HR experience, I have a strong opinion or feeling about something, which may not be driven by data or insights. But I, or any business leader who has managed business for several years has his or her own intuition on what is going on and what is going to happen. The interesting aspect of analytics, data and insight is that you have some algebraic modelling and say this is how the future is going to be and that is definitely a good-bad effect. If we fine tune that data model, then our prediction can be different. The fight between intuition and insights will have to evolve over a period of time. We can then see if intuition is right or the insights. Therefore, the quality of data is what needs focus. When we are doing an analysis, the credibility of data maintained should convince the business leader or HR to forgo intuition and look at the insights. But, don’t try to fight your intuitions too much, but mature your insights with opinions. Don’t let bias be a part of your insight. It is always good to calibrate thoughts and mature your data modelling to a really predictive one.
What is the future of analytics?
We never read the list of ingredients on the packed foods we ate ten years back in India, but we do it today. We are well educated and know what is good for us. So, people want to make in-
formed decisions after carefully analysing all the facts. This trend will only grow. Hence the need for collecting information, and analysis of such information. Everything will become analytical and we have to make sure that all analytics are technology enabled. I see the adoption of analytics multiplying ten-fold in the next five years. We can apply the concept of people analytics in our everyday life. With the technology sophistication that we have today, we are and we will be collecting more and more data about what we do and what happens in our life, which forms a new thinking around how people make informed decisions in their life. Parents will want to adopt personality assessment tools when their kids are in elementary school and monitor their child’s overall development. Data pertaining to our habits, health/medical, education, social media engagement and personality assessment, etc., are going to get correlated and analysed in this process. You might come across analytic software tools to build a holistic lifestyle and development. It is all about ‘people’ metrics. I define people analytics as the art and science of combining people data, business data, information technology (IT) and analytics expertise together to make effective and efficient decision about people. I foresee a world where we collect a number of data points from the time we are born, to all phases of life, and make informed decisions in our life. Who knows, the ‘horoscope matches’ may get replaced with ‘assessment tool matches’ in the future?
As an HR leader, can you suggest some books of interest?
I learn quite a lot by reading thought leadership insights from leaders like David Green, Global Director, People Analytics Solutions, IBM Kenexa Smarter Workforce, Laszlo Bock, Advisor and Author of "Work Rules!", former SVP of People Operations at Google, Tracey Smith, leading business and analytics expert, President, Numerical Insights LLC, Ross Sparkman, MSc, MBA, MHR, Head of Strategic Workforce Planning at Facebook and Dawn Klinghoffer, General Manager, HR Business Insights at Microsoft. I am currently reading, “Mindset–The new psychology of success” by Carol S Dweck, Ph D and “My Unskooled year” by Sagarikka, a 16-year-old from Trichy.
Your philosophy of life?
Make every day of your life happier, meaningful and memorable. Every single day, pray and thank God, learn something new and bring a smile on someone’s face. Always find time for people and things that make you feel happy. I thank my better half Revathy and my daughters–Lasangika and Kanishka–for the joy they bring to me. sangeetagd2010@gmail.com May 1-15, 2017 / Corporate Citizen / 21
Cover Story
Dynamic Duo: 51
Anjali & Devesh Mukhija A heartfelt conversation with Devesh Mukhija, Director and Country Head at Warren & Brown Technologies, who took the company to soaring heights in India, and his entrepreneur wife Anjali, who heads a consultancy with a focus on financial markets. Together they are the Conquering Couple...
The
By Neeraj Varty
Conquering 22 / Corporate Citizen / May 1-15, 2017
Pics: Vivek Arora
Couple
May 1-15, 2017 / Corporate Citizen / 23
Cover Story Devesh Mukhija is no stranger to success. A veteran of the telecom industry, he has witnessed India’s transformation from a telecom novice to the juggernaut it has become today. As the India head of Australian company Warren & Brown-renowned for innovation in optical fibre termination and precision tools manufacturing, Devesh has taken it to great heights in India and beyond. His wife Anjali, too, is a stalwart in her own right. A seasoned veteran of the financial services industry, she is the President–Consultant of SecMark Consultancy Pvt Ltd. Despite their remarkable success, both Devesh and Anjali are down to earth and approachable individuals. And just like their careers, the story of their marriage is a tale worth telling. The most extraordinary things in life often have traditional beginnings. Such is the story of Anjali and Devesh Mukhija, who first met in the most conventional traditional way-through a matrimonial ad. Anjali had just completed her education and was on the lookout for a job. She vividly remembers the time she met him. For a young independent woman with her whole future ahead of her, it was extremely important for her to understand Devesh’s views on life. Her expectation from marriage was simple, yet profound. She felt that after marriage, her husband should not only become a girl’s life partner, but also her best friend. She had always wanted to find a friend in her life partner and on the day of Dussehra in 1994, her search was over. Ever since, there has been no looking back. Devesh is unequivocally appreciative about Anjali. “She is my pillar of strength,” he says. Devesh has seen a phenomenal rise to the top of the corporate ladder, but with any staggering success, come numerous challenges and pitfalls. Sometimes, according to Devesh, it becomes impossible to see the light at the end of the tunnel. “It is Anjali who helps me remain optimistic during such times. She is an immensely positive person, and she keeps me motivated and focused.” Devesh is very emphatic that he wouldn’t have been able to reach the dizzying heights of corporate success without Anjali by his side. If Anjali thinks of Devesh as her best friend, Devesh calls Anjali his friend, philosopher and guide. Even after two decades of marriage, Anjali feels that Devesh’s appeal remains the same to her. Even after a hectic day at office, he never forgets to pamper her, the way he did when they first met. Devesh still writes her love notes, a rarity in today's technological world. It’s these simple things that count the most, says Anjali. It’s not the expensive gifts or jewellery that matter to her. The beauty is in the thoughtful things he does, like getting her a rose, singing a song, or dancing with her on their favourite tunes. “Devesh knows how to bring a smile on my face,” she says. When asked what it takes to have a successful marriage in an age where relationships are not as strong as they used to be, both Devesh and Anjali stress that trust is the most important factor in a successful marriage, when both partners are professionals. According to them, trust is the building block of their relationship, and with time and a little understanding, the trust and the relationship both get stronger. Parenting is often a full time task, and for Anjali and 24 / Corporate Citizen / May 1-15, 2017
It’s not the expensive gifts or jewellery that matter to Anjali. The beauty is in the thoughtful things Devesh does, like getting her a rose, singing a song, or dancing with her on their favourite tunes. Devesh knows how to bring a smile on her face
Devesh, their two daughters-Namrata and Simran-are their priority. Managing children and work can be daunting at times, and Anjali feels fortunate for the support she gets from Devesh and his family. Anjali and Devesh ensure that no matter how busy they are they find the time to have dinner together as a family. As the saying goes, the family that eats together stays together. Anjali believes that children should be raised to be independent people, and most importantly good human beings.
Anjali Mukhija on…
Daughters Simran and Namrata growing up
Jab we met We met in a very typically set up of an arranged marriage through a matrimonial advertisement in a leading newspaper. Our families got introduced first on coming across the advertisement. I had completed my education and was pursuing a job. We met on the Dusherra festival day in 1994. Before agreeing to the proposal, I met him in person to understand his views on life. I always wanted to spend my life with a friend. I feel, after a girl gets married, her husband becomes not only her life partner, but also the best friend. He is the first one to whom she addresses for any joys or sorrows. ‘His Appeal’ I think he is a very simple and understanding person. He has always supported me through good and bad times. Be it my career move or any other personal or professional decision, he has given me independence and has been my counsellor, guide and friend throughout. He pampers me a lot. In my view, pampering does not only include buying gifts.
During weekends, we avoid outstation travel for official purposes and accompany each other wherever possible, so that we can spend most of the time together. Official meetings are avoided by both of us over the weekends, if there is no urgent requirement. We go the temple (Hanuman Mandir, Connaught Place) every Sunday evening to perform puja. We are both devotees of Lord Hanuman. On special occasions, we go for lunches or dinners together. We both love to travel so we take short breaks from work to go places nearby Delhi like Agra, Jaipur, Chandigarh and so on. Children and their formative years Our elder daughter Namrata studies at the Netaji Subhas Institute of Technology, Dwarka, New Delhi. She is pursuing 3rd year of her BE (IT). The younger one, Simran, is pursuing B Tech (ECE). She is in the 2nd year class at Jaypee Institute of Information Technology, Noida. Both daughters have an age gap of about one year. Managing children and work was quite challenging at times. But what worked for me was the constant support from my mother, mother-in-law and Devesh. Each age has its own challenges. My children were very understanding and cooperative and have always encouraged me whenever required. They are very intelligent and have made us proud always. I keep some time each day exclusively for them late in the evenings and spend time with them during family outings. I tried to make an extra effort to be with them in case they were unwell or times when they needed me the most. The entire family has dinner together every day and shares thoughts with each other. On weekends, we play games like cards, carrom, ludo and so on. I have always encouraged them to develop skills that will make them independent and good human beings. My daughters feel proud that their parents are high up on the corporate ladder.
Devesh Mukhija
It can be small little gestures like writing a love note, getting a rose, surprising with cupcakes, singing a song, dancing to the tunes of my favourite song with me, sending cute text messages, or anything else that will bring a smile on my face. He has a very good sense of humour. Humour gives the relationship a new dimension and keeps it fresh and healthy. Relationships are about learning from each other. You become a better person as you spend time with your spouse. It does not mean you change all together as a person, it means improving a little every day. Most importantly, we trust each other. I feel trust is the building block of a relationship. The stronger the trust gets, the stronger gets the relationship. On work life balance Yes, it is quite hectic, especially the weekdays. We are in constant touch with each other during the day. We ensure that before the day ends, we spend time with each other every day. Even when we are travelling, we connect to each other sometimes through face time and share our experiences of the day.
On what he admires about Anjali She is very sensible, independent and is capable of handling adverse situations in life with her admirable patience levels. She has been a friend, philosopher and a guide. Moreover, she has above-par knowledge in her field and keeps me encouraged and focused every day.
Namrata and Simran sharing a light moment with their father
How Anjali helped him get through the worst When I was transitioning from Mekaster Telecom to Krone Communications or to Warren & Brown, she gave me the strength. She has supported me throughout my journey up the corporate ladder, and has been immensely encouraging at all times. Fortunately, there hasn’t been a rock bottom situation in my career life, but there have been numerous challenging days where seeing the light at the end of tunnel was almost impossible. Anjali helps me to stay optimistic during these times. Moreover, highs are only highs when you have someone to share the celebration with. She has been an amicable companion through thick and thin. May 1-15, 2017 / Corporate Citizen / 25
Cover Story
Telecom is the Game Changer Building something from scratch is no walk in the park. Ask Devesh Mukhija, Director and Country Head at Warren & Brown Technologies, who helped establish and build the Australian company in India from the ground up. A man who wears many hats, Devesh has a bird’s eye view of the telecom revolution happening in India. Corporate Citizen meets the stellar corporate honcho for a chat on his journey to the peak of success, his view on India’s digital revolution, and his advice on how youngsters should grab every available opportunity they get.
Telstra and National Broadband Network are major customers for all the fibre accessories / products in Australia. We have also developed some new products like Hybrid cables and Wifi solutions for FTTH last mile connectivity etc.
Tell us about your journey to the Director’s seat at Warren & Brown. I completed my B E (Electronics) from MIT Aurangabad in 1991. Further, I ventured into teaching in the same college for a year. After that brief stint with academia, I went for a graduate training engineering in Haryana Telecom for one year. Post that, I moved to Mekaster Telematics as Assistant Manager-Sales and I worked there for six years. Next, I joined a German company, Krone Communications and worked there from 1998 to 2007. In 2007, I started working at Warren & Brown, and was the first employee to be hired for India and SAARC. I joined in July, and got the company incorporated in November. We are focusing only on telecom operators and Original Equipment Manufacturers (OEMs). In the last nine years, we have managed to cover almost all of the major operators, as well as big OEMs like Huawei and Ericsson.
Under your leadership, what have been some of the important policy decisions undertaken? There have been innumerable policy decisions under my umbrella. However, to start with, the ones that have made all the difference were during the period of inception as we started from scratch in India. Our first major achievement was with companies like Bharti Airtel, Ericsson and Aircel. All of this exponentially increased the growth of the company in India. Another important decision was whether to start with manufacturing of products or distribution of our products manufactured worldwide. Based on my analysis of the market, we chose distribution over manufacturing and that has completely changed the dynamics of our business in India.
Tell us a bit about the service Warren & Brown provides. We provide optical fibre termination equipment to our customers. Fibre optic cables are essential for high speed data. Reliance Communication has been our customer even before the company was incorporated in India, through our Australian head office. Apart from this, we also provide yellow ducts to safeguard all the fibre patch cords inside the telephone exchange. With the usage of this product, the losses in fibre communication are reduced drastically thereby improving the communication data. It also improves the aesthetics of the exchange. We supply our products globally; 26 / Corporate Citizen / May 1-15, 2017
You joined Warren & Brown in 2007. How did you climb up the corporate ladder there? I joined as a Regional Sales Manager for India and SAARC. After two years, I was promoted to Country Head. In October 2014, I joined the board as a Director.
India is currently the second largest smartphone market in the world. With The Reliance Jio pan India 4G rolled out, do you see an Internet revolution happening here? Yes. However, the backbone of this revolution, which also forms the essential binding and brings internet to the table of a common man, is Telecom. We are a country of 1.25 billion people, out of which 1.05 billion people are cell phone users. Telecom will cease to be 'just' telecom. Earlier, telecom used to be a service, and now it has become an ITES (IT Enabled Services). A civil engineer will use it, so will doctors and so will businessmen. Telecom is now much more integrated and spans almost all fields of work. From the perspective of a telecom operator, it will be value added
services. Data will drive everything. Devices with high capacity and storage have already been rolling out in the market, and there is much more to come as users are accessing, consuming and demanding more data every day. We have always trailed behind global internet speeds. Do you feel we can now catch up? Yes, though India is still very far behind, with the 4G revolution happening, there is immense scope in the future. If the opportunity is capitalised properly, we can certainly catch up. With your hectic schedule, how do you manage your work/life balance? Personal and professional lives are two ends of a see-saw and striking a balance between the two is an arduous task. However, meditation and yoga have helped me battle every day challenges with a peaceful mind. Moreover, having clear priorities with a stringent yet accommodating schedule, the task becomes somewhat lighter. But is it really feasible to do so? Thanks to my family, it is possible. They give me the time and space for my job, and they have been extremely patient with me. They support me wholeheartedly, which to me is very important. I try to manage my time the best I can. When I am with family, I try to give them 100 per cent attention. Similarly, when I am at work, I put in 100 per cent effort. I don’t believe in dividing attention. What is your idea of relaxation? I like watching comedy shows or some religious or spiritual shows. I feel if you are able to lighten yourself, and your ambience, you automatically feel much better. Do you think women are adequately represented in the industry as a whole, or much remains to be done? In IT and telecom, women have been emerging. More than 15-20 per cent of employees in the offices are women, and not just at the executive level but at the senior level as well. However, of course much more needs to be done. We definitely need many more women representatives in all industries. Companies are realising this and are also taking measures to increase the percentage of women employees in their workforce. I am optimistic about the future.
When I am with family, I try to give them 100 per cent attention. Similarly, when I am at work, I put in 100 per cent effort. I don’t believe in dividing attention
What would be your advice to youngsters about to embark on their corporate career? Balancing work/life and seizing each opportunity with hard work and sincerity always yields the best outcomes. One should always look for motivation from the inside, and that'll help you overcome the numerous obstacles faced on the rocky road to success. With a profusion of opportunities coming up in the manufacturing and ITES sector, I would wish every student all the success, and may they succeed in every endeavour. May 1-15, 2017 / Corporate Citizen / 27
Cover Story
Taking Stock Anjali Mukhija is no stranger to change. She started her career in 1995 with the National Stock Exchange of India as an Assistant Manager, and for a decade has seen the ebbs and flows of the Indian economy up close. Since then, she has made a stellar career in the securities and commodities market, and is currently the President-Consultant at SecMark Consultancy Pvt Ltd. Anjali sits down with Corporate Citizen for a riveting chat on leadership, the stock market and the prospects of the Indian economy in the near future
Tell us about your career journey I have about 21 years of experience in Risk, Compliance/ Stock Exchange Operations & Broking/wealth management operations. I completed my education with Masters in Mathematics from Delhi University and Management from YMCA in 1994. I started my career with the inception of National Stock Exchange at Delhi. During my journey at the exchange for 10 years, I gained experience of the exchange related activities/operations and regulated Trading Members and sub brokers across Northern India. I have also been involved in training large audiences on topics concerning Capital Markets towards popularisation and marketing besides being instrumental in handling SEBI initiative for Investor education at various locations in North India. I moved on to various Wealth Advisory Corporate viz. RR Group, Unicon Financial and Fullerton Securities and Wealth Advisors for next eight years as Vice President-Risk and Compliance. During my tenure at Unicon, I was assigned responsibility for Legal Department. This inspired me to pursue law degree from Jiwaji University, Gwalior. Recently, I have started my own consultancy and have been for the past four years, in partnership with Secmark Consultants, Mumbai, providing consultancy in the area of financial markets. The customers include Wealth Advisors, stockbrokers, Depository Participants, banks and insurance companies.
Additionally, I am a trainer with CPE (Continuing Professional Education) with National Institute of Securities Market (NISM) for various certification courses in financial markets. Also, I am a visiting faculty at various institutes providing education in financial markets viz. Equity Derivatives, Financial Planning, Secondary Markets etc. What are the most important skills in an employee that companies value? There are 3 skills that are imperative for an employee. 1) Speed of execution—For example, Reliance Jio has recently been launched. There are established players in the market, but the speed at which Jio launched its plans and captured the market has left the competition in a lurch. Quickness to act is a very important skill. 2) Technical expertise—Whether you are an HR, IT professional or a marketer, your technical expertise is invaluable. What I have observed is that young professionals often do not learn the nitty gritties of the job. Take your time and get the expertise in whatever you do. 3) Ownership and Accountability—I can tell you countless examples of people not taking accountability and ownership. Kingfisher Airlines is a prime example. Not taking ownership destroys the reputation of the company. Recently, the lenders of Kingfisher Airlines tried to auction their logo but there were no takers. Even one of the banks, while granting the loan, had valued the logo at 234 crores, which was clearly an overvaluation. What are some key leadership skills? Apart from skills I mentioned as a general employee, the leader needs to have some special skills such as : 1) Multi-fold Approach—Looking at a project from different angles. It good be a new business initiative, risk management, or a global approach 2) Flexibility—A leader should be able to work in any kind of environment. You have to work according to the strengths and weaknesses of your team. 3) Go Local Approach—Let’s take the example of rural India. A company cannot have the same approach there as they do in urban India. They need to think and act according to local needs and sensibilities. An Initial Public Offering (IPO) helps companies raise capital. Then why are startups like Flipkart, Ola and Snapdeal not opting for IPOs? There are guidelines laid down by the Securities and Exchange Board of India (SEBI) required in order to be eligible for an IPO, and at the moment the companies you mentioned do not fall into the required criteria. However, going
28 / Corporate Citizen / May 1-15, 2017
forward, these companies may be eligible for an IPO. We can wait and watch for developments as they come. Despite giving high returns, why is the stock market looked at with suspicion in India, especially by women? You hardly see women investors in the stock market, even in 2017. When I joined the National Stock Exchange in 1995, there were no women there. There is a patriarchal mindset in India that women don’t invest in the stock market. Even my mother advises me to use spare money to buy gold. We were buying an apartment 20 years back, and I told my mother that since I am short of money, let me sell my gold and invest in the flat. She objected passionately. It’s the mindset. Besides, many people don’t understand what the commodities market is all about. It is very difficult to convince them that the stock market gives returns. I have conducted investment seminars with SEBI, and observed that people were not happy investing in equities. They did not have the confidence. They are scared that their money will be swallowed up. If people can be convinced about the safety of investing in the stock market, and the higher returns they can get, I’m sure they will come around and be much more enthusiastic about the topic. What is your outlook for the market in the near future? I expect the market to do very well, because the economy
When I joined the National Stock Exchange in 1995, there were no women there. There is a patriarchal mindset in India that women don’t invest in the stock market. Even my mother advised me to use spare money to buy gold is doing well. The GDP is at 7.8, even after demonetisation, which is extremely positive. With Indian companies like TCS and HCL now going international, and with the innovations and future prospects of these companies, I see India going far ahead from where we are today. What is the effect of the global market on the Indian market? The global market definitely has an effect on the Indian market, but the impact is limited. It lasts for a day or two. Ultimately, it is the domestic market, which makes maximum impact. There are certain industries that depend on the international market, and the linked impact is felt in those industries. When Nasdaq falls, Nifty falls too, but it bounces back soon. Domestically we are doing quite good, and I see that trend continuing unless the government suddenly makes any radical changes in its policies neeraj.varty07@gmail.com May 1-15, 2017 / Corporate Citizen / 29
Illustration: Sumeet Gupta
30 / Corporate Citizen / May 1-15, 2017
NHRDN Career Fest 2017
Why you should choose as a
Banking career
Today, India is a nation of youths; they are the future of the country. As a result, employability is a key factor towards making our demographic dividend a superpower. Initiatives are required to transform opportunities for India’s youth to use their abilities and work towards development of India. In this context, the National HRD Network (NHRDN) Mumbai Chapter, recently organised a Career Fest at Nehru Centre in Mumbai, bringing together industry and academia, to help the student community to make informed career choices. The theme for the fest was “The future of jobs: challenges and opportunities for the youth of India”. Vineet Dhar, Zonal Head−Retail & Business Banking, ICICI Bank, spoke on career opportunities in the banking sector. Dhar has an extensive experience in the banking industry over the last 18 years. He has experience in managing different functions like Branch Manager, Operations, Sales, Retail, Corporate Investments, Wealth Management, Business in Commercial Banking, Government and Institutional Business, Products, Marketing Risk and Compliance, Training and Service Quality. This is the second in a series—Corporate Citizen brings to you the excerpts from the development session By Vineet K
May 1-15, 2017 / Corporate Citizen / 31
NHRDN Career Fest 2017
wenty years back when I look at myself, I was just like you. A young boy from Delhi who wanted to change the world. Many ideas, point of view, critical about everything, cynical about few things, but extremely positive about what change I will bring to what is happening around. I thought that I am the best of god’s creation. I was boarding a train and hundreds and hundreds of people like me where all around. When I realised that I am not the only godchild, there are plenty just like me, my dream about changing the world probably settled on the platform. This is the time when everybody is equal—except the marks in the college. When you pass out from college, no one takes into account how many marks one has scored, what is your degree, how many marks you have scored in economics or accounts and so on. Customers don’t care unless and until the person they are talking to can help. Back then, it was a similar situation and a lot has changed in last since then. But one thing has not changed, earlier, parents, teachers, tutors, everywhere, people used to tell students be a doctor, engineer or an architect but no one used to tell be a banker. Today, everybody is thinking what bankers actually do. One thing that still has not changed is that parents do not tell their son or daughter
to be a banker. What is so exciting about this profession? Lot of people are already into it, some have been part of it for long. Many people will give you several reasons why to join banking. Most popular reasons would be, stable job, social status, and salary. Today I think, I am qualified enough to tell you my story, why did I became a banker.
Ability to touch and change people’s lives
In 1997-1998, when I started working, Citibank probably was the only place when you pass out from campus and say this is a dream company and a dream job. Apart from the popular reasons, why I joined banking is because I think it is the only profession wherein you are able to touch and change people’s lives, because money touches everybody, and we all saw that in last six months. An upper middleclass, middleclass, CEO, driver, paanwala, kiranawala, anybody, they were in the bank, they were in the queue, all of a sudden—all in the society became equal. There was no differentiation, because it didn’t matter how much money you had in your account, but only thing mattered was, how much money was in your hand. Because that was the only money you
were able to spend, it made everybody cash equal, clearly one of the strongest reason for me to join banking. If I had to give you a reason to why I joined the banking, this would have been the first reason. Being in this profession, not only I have grown and learned, but at the same time, I have touched and changed people’s lives.
An insight and exposure of the society
Since everybody needs finance, what are the three things people come to the bank for? First, Transactions, second Investments and the other is to Borrow. Banks do only two things, either they take money or give money. By virtue of being a banker this is the only profession as per me wherein you get an insight and exposure to every fragment of the society, a businessman is also coming to you, a salaried person is also coming to you, a midsize business and a large corporate is also coming to you. You get an insight and exposure into many businesses. It could be manufacturing, retail, it could be anything what you see around. IT had a big boom in the industry in the last 16 years, Infosys is my customer and a small company in Airoli, Thane is also my customer. I get to see, I get an exposure and I get to learn about many more industries by being in one, which is banking. Today, when I stand here, I not only have enough exposure in banking but also I am proud to share that I have equal amount of exposure in various other industries. Whether it is in telecom side, FMCG side, manufacturing side or any side.
Banking is moving— you are not the future bankers but future customers. If the future consumers are already digital, what are banks going to do. Banking is the only industry, which is just around for a huge change
Digital is everywhere
Pics: Yusuf Khan
32 / Corporate Citizen / May 1-15, 2017
Why I believe that anybody should pick up banking and especially in today’s age. In the next three to five years, the world will become flatter. Technology and digital are making the world flat. When I joined the ICICI, everything was done in ICICI way and we thought we were the pioneers of the country because we were the first ones to bring ATMs in the country and we were the first ones to bring internet banking. Today I think, what is in an ATM, it is just another commodity, just like an air conditioner in any office or a refrigerator at home. Banking is moving—you are not the future bankers but future customers. If the future consumers are already digital, what are banks going to do. Banking is the only industry, which is just around for a huge change. If you talk about 10 startups today in the mar-
ket, seven are around fintech. There are some or the other financial problems which one of these startups are trying to resolve. Paytm did the same thing. It is a financial startup. Seven out of ten are in financial. If you are digital, if you can think that you can add value over there, you can learn, then probably banking is the place for you in the next 3-5 years.
Build your relationship skills
I believe that banking as a profession offers Knowledge to anybody because it is a knowledge led industry. People will come to you, deal with you, talk to you because you will be able to share knowledge and resolve problems. Second thing you will be able to build along with knowledge, is your Relationship Skills because banking is based on two pillars. Trust and Relationships. You leave your money with the banks even though you do not know anybody. Whether the bank will open tomorrow or not, you do not know. You still go and deposit your money. Similarly, banks lend money to customers whom they don’t know as much. But it happens on trust and relationships. This is one of the unique propositions out of the market in the career, where you are exposed to knowledge and relationship skills. As technology is taking more and more space in every industry, especially banking, relationship side of the banking is growing even further. Because the customers themselves can do transactions, they don’t need to go in branches these
days. For example, ninety-six per cent of ICICI transactions today happen on the internet, only four out of 100 customers walk in the branches. Who are these customers? These are the customers who are joining, so who is serving them? They are serving themselves because of technology. So clearly, relationship skills and the domain knowledge in this industry adds value to anyone who probably becomes a part of this.
Meeting good and successful people
You leave your money with the banks even though you do not know anybody. Whether the bank will open tomorrow or not, you do not know. You still go and deposit your money. Similarly, banks lend money to customers whom they don’t know as much. But it happens on trust and relationships. This is one of the unique propositions out of the market in the career
Today, when I look back in my career, I realise I am very happy being a banker. Somebody said, Vineet, if you are in this industry, you will end up meeting many successful people. People who already have money, that was a shift in my mind, if anybody is holding money, if anybody is successful I would want to meet those people. Everybody would want to meet successful people, you would want to learn, and you will get something back while doing
business. You build a relationship with a person, you understand how the journey of the person has been, from where did he start, what all did he do? You understand the psyche and the journey of a successful person. Which was probably one of the key reasons for me to probably look at this as a career. This is one profession, which will definitely give exposure and meet good people and successful people in the society.
Immense growth prospects
In the year 2000, Indian economy actually opened up. The word ‘retail’ came to India. Today, everything that you see around, whether it is Café Coffee Day or Starbucks, any other retail store that you see. This all came post 2000. India then, was the fastest growing economy in the world, growing by 10%. Back in 2000, there were immense opportunities. Today 17 years later, what do I see? 10% has become 7% but still at 7%, India is the fastest growing econoMay 1-15, 2017 / Corporate Citizen / 33
NHRDN Career Fest 2017 my in the world. China is slowing down. In that growing economy, in that growing phase of a country who are the beneficiaries? The younger people. If the economy is growing, what is the first leg of the economy, which will grow the fastest? Financial Services, because the country needs more and more money to grow. You need finance professionals who need money and who understand money. In my view, one of the brightest growth prospects among all the industries today one can find is the Financial Services. It doesn’t matter if it is banking, general insurance company or it is a mutual fund side of the business or private equity side of the business, doesn’t matter. The good thing of the younger generation is, all are aware, all of you read and all of you are digitally connected. You are aware and understand what is happening in the world. That is what probably will keep you ahead of others. Another reason for anyone to probably look at this industry is immense growth prospects, and the way it is growing it can only be better.
Allows you to understand emotions
When I joined the credit card business in Citi Company, there I learnt creation and collection side of business, how to issue a credit card, after you use the card when the billing date is due, when the customers don’t pay, someone has to call, someone has to go and collect. I did that for three years. This gave me a brilliant insight of how people use the credit card and what happens when they are not capable to payback. In India, only 1% of people have intent issue, 99% are very good with intent. They want to payback what they have taken, god fearing. This is the whole premise of running a bank. Nobody wants to cheat and nobody wants to hold anybody’s money. So first three years, I learned if anyone takes money, why they don’t give it back. I was young at that time; it was difficult for me to understand emotions of people. Money evokes lot of emotions. You go to a middle class family, they might have taken a loan for a flat, and because
Today in your career, it is important to make a right choice, because there are too many options, too many options lead to too much confusion. My generation did not have as many options. ‘Will it take me where I want to go?’ This is what you should think
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of daughter’s education, or son’s wedding, what if they are not able to pay back. It is not that the person wants to cheat, it is the situation, and it is the circumstance. This profession allows to understand that, which another profession allows an 23-24 year old individual allows to understand such kind of emotion. That’s what I learned in the first three years. Later, I moved into ICICI and then moved in some other business. So the first business was giving money and collecting it back, the second business was how to raise money—deposits. You have surplus savings, where do you keep it. You keep it in to fixed deposit, you keep it in an account, you keep it in post office, wherever. Raising the deposits. That was the second side of the business I got into. The third side of the business I exposed to was Wealth Management, the super-rich from the society. Too much money, less time, you don’t know what to do with that. Today, after being in the industry for a long time
years—I have done collections, I have given money to people, I have taken money from people, managed money for people, managed their investments, given them returns and so on. I have seen them happy; I have seen them crying. They are happy when they make too much money, they cry when they lose their money. But the satisfaction that it gives you, because you were probably able to do something because of which you were able to touch somebody’s life or make somebody’s life better is a great thing. These are seven points, which I believe are good to look at if you are interested in banking sector. Today, getting a job is easy, but there is a difference between getting a job and getting a career. This is the biggest difference, which many people in the beginning of their career face. I happened to be in banking and now I love banking. In your career, it is important to make a right choice, because there are too many options, too many options lead to too much confusion. My generation did not have as many options. ‘Will it take me where I want to go?’ This is what you should think. You are at the age where you can now drive, vote, drink and marry. You are an adult now. You have the intelligence, mind, ability and the wisdom to decide for yourself. While picking up, pick up and ask ‘Whether I am picking up a job or a career’? And they way banking is changing; it is the best time to join. It is changing in many ways. What happened on the 8th of November was a big enough move for the whole economy to see the consequences and the impact of what happened. vineetkapshikar@gmail.com
Corporate Trend
Workplace Spirituality No m o re tre n d but str ategi c management
Workplace spirituality or spirituality in the workplace, is no new concept that deals with how spirituality can improve, shape and effect work place environment and issues. The concept is no more a passing fad or personal activity of putting purpose before self. It has become a new field of study and a strategic tool for developing management systems that encourage personal and spiritual transformation at workplace, inclusive culture and leadership practices that support the growth and development of everyone By Rajesh Rao Crucial to the business organisations Every business organisation’s mission, vision and core values are built around the ethical contribution to improvement of society and mankind. Therefore, understanding the place of spirituality at work has become a must for employers and especially management and human resource departments. Dimensions of workplace spirituality Workplace spirituality has gained more significance in recent times in coping with workplace stress. Factors like work-life balance, job satisfaction, job performance, alignment of organisation-individual values, creativity appreciation, sense of purpose and meaning to one’s work, work commitment, honesty and trust, positivity—all these help in lowering down stress within the organisation and personal stability. A strategic management tool Leadership is the quintessential factor responsible for positive outcomes—the process of spiritual leadership and workplace
spirituality ultimately focus on building and operating a continually improving, learning and productive organisation. Workplace spirituality has become an imperative factor for growth and development of any organisation, in terms of high productivity. It helps in increasing the effectiveness of human resource to accomplish more performance, lowering absenteeism and attrition. Corporate management has now started showing interest in workplace spirituality as a strategic tool in bringing in organisational effectiveness and team performance, resulting in increased productivity and profitability. Reciprocal correlation between organisation and its employee, where workplace becomes a space for creativity and innovation, allows individual employees to find greater meaning and purpose in their work. Bringing sense of biotic community Fine-tuning the organisational values, vision and mission with spiritual qualities through its work culture, leadership and policies helps in providing purpose and meaning to overall
business and work, going beyond paychecks and performance reviews. Bringing a sense of biotic community among co-workers in a business organisation, gives a directional purpose to employees. Improves organisational performance The model of workplace spirituality serves as a framework of logical relevance, emphasising the significance of people, profit and the business organisation. The business organisations are always seeking to fit together the human resources dimensions with profit motive for staying relevant. Organisational dynamics can use workplace spirituality to develop ethical organisations, with a positive impact of improving productivity, profitability, goodwill and customer loyalty. HR, the vehicle for workplace spirituality The secret to achieving workers’ happiness is in the HR’s hands, who makes the workplace a supportive environment for the employees to express themselves freely. HR is the vehicle by which the organisation can introduce spirituality into the workplace with components like reward and recognition policy, setting performance goals, selection process etc. Studies have shown that by introducing workplace spirituality, organisations have witnessed improved productivity, employee satisfaction, loyalty and moral, employee retention, integrity and honesty. rajeshrao.rao@gmail.com May 1-15, 2017 / Corporate Citizen / 35
‘Whatever training is
imparted here, it is specialised in nature and that is why we do not train everybody from the Indian infantry here, but a few select people only. The criteria are different for different courses. We have laid down a set of criteria for each of the 16 courses we run. They vary as per the course. Undoubtedly, these criteria are extremely challenging’
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Pics: Vishal Bhatia
Foot Soldiers for the Morrow Lt Gen Konsam Himalay Singh, PVSM, UYSM, AVSM, YSMCommandant of the Infantry School, Mhow (Madhya Pradesh) is a highly decorated officer. He is an alumnus of Sainik School and the highly acclaimed National Defence Academy. His service in the Indian Army spans over 39 years. He is the recipient of the Param Vishisht Seva Medal, UYSM, Ati Vishisht Seva Medal and Yudh Seva Medal. He also has several remarkable firsts to his credit, primary among them being that he is the first ever officer from the Northeast region to have achieved the rank of a Lt General in the army, post India’s independence. His extraordinary achievements in the armed forces include his show of gallantry in the Kargil War, commanding a division of the army on the LoC in Jammu and Kashmir (he has five stints to his credit, in that challenging area), being awarded Chief of Army Staff Commendation Card not once, but thrice and authoring a book. In a tell-all interview with the Corporate Citizen given just before he retired recently, Lt Gen Konsam Himalay Singh drives home the point that infantry is still relevant in the day and age of mechanised infantry... By Namrata Gulati Sapra
Cradle of Leadership
What makes the Infantry School the prestigious institute that it is?
As we all know, infantry schools are premier training institutes of the Indian Army and Infantry is the queen of the battle. At the same time, infantry is also known to be the country's ultimate weapon! When the time comes, it is the infantry that decides the victory or defeat on the battleground with the support of other arms and forces. So that is why we train the officers and men of the infantry and also of other armed forces. In infantry-centric operations, we feel that we do deliver victory.
The Army Marksmanship Unit has produced some of the best shooters in the country who have brought laurels back home from challenging international championships. What sets apart the AMU from other shooting schools of the country?
The AMU has one of the best shooting facilities in the world and not just in India. Besides, it also boasts of a system and facilities wherein championships for young shooters as well as various other shooting competitions of the Indian Army are held. The AMU is known for
May 1-15, 2017 / Corporate Citizen / 37
Cradle of Leadership
‘We have a systematic training program for young officers once they are commissioned. In the training or the graduation academies, they are trained to be an officer and a gentleman at the same time. Practical knowledge of the arms is given here. It is known as the Young Officers Course. This particular course comprises commando training’ picking up talent and honing it to the best of its ability. AMU chooses shooters from all over the Indian Army and then they are groomed in accordance with national events, which is also the reason why we had three army men participating in the Olympics. I am very sure that in times to come, we will produce many medal winners in many international events. That apart, we also choose the best coaches based on their availability. In fact, we have coaches from other countries too now. We pick the best ones available in the world.
What are the various courses that are offered at the Infantry School?
The courses offered here vary from the basic ones to specialised ones. The former, for instance, would include, handling of specialist weapons, handling of normal weapons and all other types of weapons. As you know, the number of weapons used by the infantry is wide in range. The second is infantry tactics as related to the infantry battalion, company, platoons and even sections-in fact, at all levels of the unit as well as the sub-unit. There are specialised courses as well. For instance, we have commando training which is part of our Infantry School. Other than that, the school also has sniper courses and other similar specialised courses (such as those to do with specialist weapons).
Is there a special course for young officers?
We have a systematic training program for young officers once they are commissioned. In the training or the graduation academies, they are trained to be an officer and a gentleman at the same time. Practical knowledge of the arms et al is given here. It is known as the Young Officers Course. This particular course
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The
Historic Journey of the
Infantry School The genesis of the current school can be traced back to the School of Musketry at Changla Gali (presently in Pakistan), established way back in 1888. Between the years 1888 and 1948, even before it got its present name and finally relocated to Mhow, it included various segments in various places. The School of Musketry was previously at Satara, and moved to Belgaum afterwards. The Small Arms School was at Panchmarhi and another offshoot at Ahmednagar. The Indian Non Commissioned Officers’ Training School was at Jhansi, and the other two schools at Faizabad and Dehradun. Post independence, a decision was taken to amalgamate the other institutes, thereby giving birth to the Infantry School, with all the school instructions combined. In January 1948, the Battle, Tactical and Administration School shifted from Dehradun to Mhow in order to merge with the Infantry School. The Commando Wing was raised as a component of the Infantry School in 1964. Until 1971, the school held Junior Command and Senior Officers’ Course. Due to the rise in the capacity of courses being held at the Infantry School and the proposal to introduce a Higher Command Course, a decision was taken to bifurcate the existing School into the College of Combat and the Infantry School. Consequently, the Junior Leaders’ Wing, including the Young Officers and Commando Wings of the School shifted to Belgaum. In the year 1998, the Platoon Commanders’ Wing moved to Belgaum while the Young Officers’ Wing was moved back to Mhow. In 1993, the Army Marksmanship Unit was introduced. The most recent addition was made to the Infantry School in the form of the Non Commissioned Officers’ Academy, established in 2005 at Binaguri. Infantry Memorial at Mhow Army Marksmanship Unit
comprises commando training. Here, the young officers have to undergo training on all weapons. They are also trained on the systems of these weapons and even the tactics of handling the Rifle Company of the infantry. Additionally, we also have a system that ensures that besides these professional activities, we give them ample exposure to communication, personality development, self-improvement, games and sports activities.
What is the strength of the army officers recruited in a year, inclusive of all the courses at the Infantry School?
We train some 700-800 officers of the infantry in a year, besides jawans and personnel from other ranks. In
addition, we have other officers from foreign countries. We have 17-20 countries sending in their officers for a process here. And as far as other jawans are concerned, we have about 3000 people being trained in a year. As you know, this is not basic training. Whatever training is imparted here, it is specialised in nature and that is why we do not train everybody from the Indian infantry here, but a few select people only. The criteria are different for different courses. We have laid down a set of criteria for each of the 16 courses we run. They vary as per the course. Undoubtedly, these criteria are extremely challenging.
How do these courses mould army officers into the warriors of tomorrow?
May 1-15, 2017 / Corporate Citizen / 39
Cradle of Leadership Olympic hopefuls under training
About the
Army Marksmanship Unit The Army Marksmanship Unit is a part of the Infantry School where the shooting skills of young aspirants are polished. The AMU is known for producing fine shooters who have gone on to win medals and laurels on the international platform. The list of shooters trained at the AMU boasts of names such as Rajyavardhan Singh Rathore (silver medal at Athens Olympics, 2004). Other than that, nine shooters (of the 36 chosen from India) for the famous Commonwealth Games were trained at AMU alone. Four of them upped the medal tally of India by winning as many as five Gold, two Silver and one Bronze Medal in the sport of shooting.
As I mentioned earlier, these are all specialised courses. We train the officers to be sub-unit commanders, detachment commanders and weapon specialists so that they can further train others. We lay a base for those training the entire Indian infantry in their respective units and sub-units.
What are the changes in these courses over a span of time, considering the evolution of technology or changes in warfare, given that the techniques and tactics must have undergone a change over the years?
With the change in technology, various activities as a part of these courses have registered a significant change. For instance, now we have IT courses being run here in addition to the specialised courses. These IT courses are to help adapt to the changes in information technology of the infantry. On the other hand, there is new technology in weapons too. We boast of the best of service techniques. We have adapted to the changing times through our curriculum. I would also like to mention that the Infantry School’s technological absorption is quite less. Infantry sticks to simple, easy to operate weapon systems, relying more on leadership qualities and this is one of the challenges—how to
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synchronise technology and the war troop on the ground to win wars?
Since you mentioned that leadership qualities are largely relied upon, how are these qualities inculcated in the officers?
I would say that all of these qualities are inherent in the curriculum. In the commando training, for example, they operate together and undergo vigorous emotional, mental and physical labour. We encourage them to operate in groups. The aim is to inculcate team spirit. However, in the weapons course, the courses are weapon specific. It depends on what kind of weapon is used to determine team spirit.
How do you select the right kind of trainers at the institute?
We have the best of quality instructors in the Indian Infantry. We have Havildar Instructors, JCO Instructors, officer instructors at all levels. All of them are the best and have qualified to become instructors in the courses that they have studied themselves. If they do well as qualified instructors and they have a good service profile, only then are they posted here as instructors, in the case of officers. In the case of Havildars and JCOs, the Army
Headquarters takes care of the recruitment and we select the best. We have 160 officers who have been selected as instructors. We have another 350 officers, JCOs and Havildars who train the officers.
Would you say that the infantry has taken a backseat with the introduction of mechanised infantry?
I don’t agree. The western world was of the same opinion too, but then Iraq happened, Afghanistan happened, Syria happened and they realised that one cannot win a battle purely relying on technology, mechanised weapons or infantry. If you recollect, in Iraq, the mechanised forces won the country in a few days but they also realised that it is the boots on the ground that clinched the win. So the idea of infantry with men on the battleground is still very relevant. Another factor which makes it all the more relevant is that we have long borders in the mountains spread over many kilometres. No amount of mechanised infantry is going to deliver on such a terrain. Yet in the western sector, there will be operations dominated by mechanised forces. The predominance of mechanised forces will continue. But you have all types of agencies, weapons, low-intensity conflicts, conflicts in J and K and the northeast where only infantry can carry out these operations because of the nature of operations and geography.
How is the Infantry School keeping up with modern warfare techniques or the 4th or 5th dimensions of warfare, such as space or the electronic domain?
We have confined ourselves to sub-head, unit head and the listing of the infantry battalions per se. All the mentioned technologies and dimensions will be taken care of by the other establishments as we are primarily dealing with infantry-centric activities of the infantry battalions. That is why we expose them to knowledge on such issues but we do not have a setup for direct training.
‘Now we have IT courses being run here in addition to the specialised courses. These IT courses are to help adapt to the changes in information technology of the infantry. On the other hand, there is new technology in weapons too. We boast of the best of service techniques. We have adapted to the changing times through our curriculum’
Lt Gen Singh with his better half, Dr Mangala Konsam
How is the training school making up for this?
As far as space for modern technology is considered, we try to educate them about everything that is related to the infantry battalion and the rifle companies. For example, for our training acts, we incorporate technology for the purpose of training but that does not extend to the arena of space. Space activities and related exposure is provided as the officer grows in his years of service. A cutting edge technology may not be necessary to train an officer. I am of the opinion that they could be trained on this front in the times to come, but as of now, it may not be necessary.
In what way has the Army Officer changed, say in the last decade in terms of attitude and sincerity towards the nation and his place of work, or in other words, the Indian army?
The nature of training of our officers at academies such as
May 1-15, 2017 / Corporate Citizen / 41
Cradle of Leadership An insight
into Infantry and
the Infantry School... • The Infantry School aims at imparting training in infantry • Whether being vigilant at the border or combating insurgency or lending a hand to citizens when a natural disaster strikes, the infantry is known for always being at the forefront • Infantry is the largest arm of the Indian Army • The School also conducts National Combat Forces Shooting and Young Blood Championships while also carrying out trials of weapons, ammunition and equipment relevant to the infantry • The name as well as the location of the Infantry School changed a number of times before it finally was established in Mhow in Madhya Pradesh • Not just in India, but the Infantry School is a
prestigious name in the world. In fact, it ranks very highly in the list of training institutes around the globe • The Junior Leaders’ Wing (that comprise the Young Officers and Commando Wings) of the Infantry School functions from Belgaum • The Infantry School is known for training more than 8,000 personnel every year • The Infantry School has diverse wings/ resources that impart training on several fronts: the Young Officers’ Wing, Information Technology Division, Computer Training Laboratory, Battle Field Management System, Weapons & Trials Wing and Platoon Weapons Division • The School also imparts training to personnel from more than 30 friendly foreign countries
A gala ceremony at the Infantry School, Mhow
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• An infantryman relies on the bayonet when his weapons fail to fire or ammunition run out. No wonder then, that the ‘Bayonet’ is the symbol of the Infantry School • ‘Vijayen Gyanen Shauryen’, which translates to ‘Victory through Learning and Courage’, is the motto of the Infantry School • Two wings are dedicated to training at the Infantry School, Mhow. First, the Weapons & Trial Wing, which is headed by a Brigadier. The second one is the Young Officers’ Wing also headed by a Brigadier • One of the most celebrated soldiers in the history of the Indian Army, Sam Manekshaw has served as the Commandant of the Infantry School • October 27 is celebrated as Infantry Day with much fanfare every year
the National Defence Academy or the Officers Training Academy or the Indian Naval Academy is such that we focus on inculcating officer like qualities in them as well as grooming them to be thorough gentlemen. This is our first and foremost goal. Once they get a hang of the units, the culture of the Indian Army and its arm of infantry, the officers today are as good or as bad as the officers in the past, although environmental factors have a strong bearing on their attitude and behaviour. People are a lot more exposed to the world of social media these days and all things good and bad that make up the society. It is only natural that in such a climate, their personalities are bound to be moulded significantly. However, to say that they are any less professional or dedicated to the motherland than their predecessors is not right. The only difference between the officers from that age and today’s times is that the current generation of officers have many responsibilities on their shoulders. To conclude, I would say that I do not find much of a difference barring the environmental factors and their exposure to the social media. As far as the question of curriculum is concerned, it undergoes several amendments for the better. I have to say I am quite content with these improvements in the course.
Could you please take us back to the time when you were a young officer and pursuing a course yourself? Do you have any specific memories or experiences which you would like to share with us?
Thirty-eight years ago, I pursued my course in Belgaum. Now, things have changed over the years and these courses are taught in Mhow. From my time, I remember there was a gentleman called Major Bahadur. He is no more and Mrs Bahadur is running a school here which is quite popular. It is known as the Colonel’s Academy. I have fond memories of Major Bahadur trying to groom me into a better officer! Those moments are rather memorable for me. From my commando’s course too, I have sweet memories of heart touching episodes. Primary among them is of the day when they announced, ‘Commandos, we will do a jump now!’ The thought of executing the jump wasn’t exactly scary, but it was a challenging jump to do! Of course, I have done other courses at the Infantry School. Most of the officers here were trained at a tender age.
How does the Infantry School differ in terms of facilities as compared to the School of Artillery?
The requirements of the School of Artillery are different in terms of their infrastructure needs from the government. The Infantry School, on the contrary, has fewer needs. It functions or operates in smaller teams. That automatically reduces our requirements vis-a-vis the School of Artillery, given our system. Having said that, with the kind of system of weapons that we have, we need a large number of them in different types. Compare this with other schools, which will have just two types of tanks and a fewer number of weapons. In the Infantry School, we have a range of weapon systems. These include different
arms and services and we have the best infrastructure as of now. We are trying to improve further in order to meet the challenges that the future might bring us.
What are the expectations of the school once the officers graduate?
We expect them to be good rifle company commanders. We expect them to be excellent specialist weapon commanders when they return to their academies.
In your career in the army, what has been the most momentous event?
That has to be the winning of Kargil war, hands down! I was a commanding officer then and in fact, I would also like to share with you that I will be the last Kargil CO serving in the army. (He retired in February this year.) Thereafter, no Commanding Officer from the Kargil victory will be found to be serving in the Indian Army. So, the momentous event was capturing the Pakistani post on 27th June, 1999. That was by far the most memorable event for me—the time when I was the commanding officer of 27 Rajput, and nothing else comes close to it.
What are your post retirement plans?
As of now, there are no definite plans. One can plan
‘I remember there was a gentleman called Major Bahadur. He is no more and Mrs Bahadur is running a school here which is quite popular. It is known as the Colonel’s Academy. I have fond memories of Major Bahadur trying to groom me into a better officer’ but it may or may not work out. However, what I will be pursuing passionately is the social upliftment and empowerment of the poor and weak sections of the society. I may go to a place where there is no peace and lawlessness prevails. But it is the state to which I belong—Manipur. All I know right now is that I am heading to Manipur. That said, I am also dedicated to the cause of security, whether internal or external with reference to India and North East India, in particular. I have also submitted my thesis about the North East around this issue. A PhD thesis on a similar project is in progress too. namratagulati8@gmail.com
May 1-15, 2017 / Corporate Citizen / 43
Corporate Opinion
Priya Krishnan
CEO, Founding Years Learning Solutions Instead of working to strengthen security measures that make women working during night shifts feel safe, the government is seemingly abdicating their responsibility on the issue by such regressive recommendations. The authorities must also be aware that the women doing these night shifts are doing so out of financial necessity.
Sangeeta Gupta
Senior Vice President, Nasscom In the BPO sector, night shifts are unavoidable and they create more job opportunities for women. Each of the stakeholders too must do their bit to ensure safety. The government in particular, has to ensure security of women in cities where IT companies operate.
Ashish Loyal
Corporate professional On one hand we are talking of women empowerment and gender equality while at the other discouraging them to work, because of a few incidents. Working in nights shifts should be purely a prerogative of women. It is government’s duty to provide adequate security arrangements and draft a long-term policy on urban safety and security especially for women.
Should women be banned from doing night shifts?
In its 32nd report, the committee headed by NA Harris, that tabled a report in the Legislative Assembly, recommended hiring men for night shifts. The 21-member committee had inspected Infosys and Biocon in November to assess the working condition of women employees. It observed that companies need to make efforts to put women employees in morning or afternoon shifts only. Corporate Citizen spoke to several corporate leaders to find out their thoughts on this burning issue
Simin Askari
VP, Corporate HR, Dharampal Satyapal Ltd People should have the freedom to choose when they would like to work and employers should provide facilities for the workforce to ensure their safety, security and well-being while at work. Crime against women happens during the day too, so are we going to see a recommendation next that women stop working during the day too?
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Mohit Gundecha
Co-Founder and CEO, Jombay Quite frankly, no one enjoys working in the night shift, irrespective of the gender. Restricting women to not work in night shift means killing a choice. If there are any concerns about work conditions, recommendations should be made for creating a better ecosystem and support system (for both men and women).
Sachin Adhikari
Social Entrepreneur While several factors of safety are to be considered for women during night shifts, there is also an opportunity to proactively make spaces safer for them. The issue might be raised due to genuine concern, but it may also be counterproductive to limit women from these areas of work. Instead, workplaces should try to acknowledge their safety concerns.
Prerna Tandon
Consultant and Startup Mentor, Bengaluru These are regressive policies and move away from a level playing field. Corporations have devised ways and means to provide secure travel working environment for women in night shifts, in some cases even by incurring extra costs.
Abhishek Rungta
CEO, Indus Net Technologies If women are comfortable in their workplaces and willing to work, why should they not be allowed to do night shifts? There should be work equality. However, the government and the companies should ensure the security and safety of women.
Subramanyam
Antra Bhargava
CEO, SuVitas Companies should focus on creating and implementing strong safety processes at work, including investing in corporate cab partnerships that are reliable, focused on safety and have an established pedigree. This may cost more in the short term but will reap greater dividends in the longer term as they bring women into the fold of ‘normal’ work.
Sangeeta Goel
Storyteller with Storywallahs How will professionals like nurses, hospital workers and even doctors function if they are not allowed night shifts? Secondly, one is paid more for doing night shifts. So, why should women suffer and not take the benefits of higher pay because someone else is drawing legislation?
CEO, Ascent HR This is a very poor attempt in improving women employment. As on date, this is a recommendation and is not an amendment. Let us hope better sense prevails before any attempt is made in changing law.
safety threat that exists today. Public parks, streets and cabs also pose a dangerous threat to the safety of women. Some women may be in a situation, which would demand them to work during night hours. The legislation cannot just ban those women.
Anika Parashar
COO, Fortis La Femme A woman is a very special person and she needs to be treated with respect, dignity and equality. In regards to a mother and childcare industry, it is not practical to have no female nurses/ doctors available on a night duty considering the need could arise at any time of the day!
Deepak Shikarpur
IT Entreprenuer IT Industry is now growing in Tier 2/3 cities. It is expected that IT/BPO companies should provide adequate security to all its employees in workplace as well as in transit transportation. If women are barred from working in night shifts, it will reduce their chance of getting recruited for a three shift job.
B S Murthy
Mitali Tandon
Co-Founder, Morning Fresh Workplace is not the only potential
CEO, Jarviz In my experience of over 17 years in the HR, there has been a drastic change in the corporate world. Today, women are powerful, bold and strong with a will to achieve success. Let the government protect women who decide to work late hours.
May 1-15, 2017 / Corporate Citizen / 45
Campus Placement
Staying
Positive Boosts Morale Dreams motivate an individual to work for the betterment of self and society, says Kamta Trivedi, who has successfully traversed the distance from a small town, Lalganj to a top FMCG, with aplomb By Joe Williams
H
e is strong because he wants to be, smart because he has learnt from his mistakes and is a happy person because he knows what sadness is. He is Kamta Nath Trivedi, the only son of a middle class family from a small town Lalganj, in Rae Bareli district of Uttar Pradesh. He passed out from Ryan International School in his home town and moved to Kanpur to pursue his BBA from CSJM University Campus. Today, he makes his entry into the corporate world, with CavinKare Pvt Ltd−a top home grown FMCG conglomerate−as a Management Trainee. Entering the corporate world and the FMCG sector have been his dreams since completing his schooling, which he has achieved through high aspiration and dedication. Trivedi is confident and believes in himself. As a new entrant with CavinKare at its headquarters in Chennai, he says, “Self-belief is the best medicine to attain one’s goals in life”.
Pampered child
Trivedi was always a dreamer− sharing ideas and learning at each step of life, and sharing his success
with everyone. This motivated him. Being the only son in the family, he was pampered. “With two elder and two younger sisters, I would get all the attention, and all that I wanted,” says Trivedi. This made him a naughty boy, and it was his father Pawan Kumar Trivedi who would reprimand him for his wrong doings. “I was notorious and my father would thrash me up whenever I was found on the wrong side.”
Career plans
He was studious in his academics. He took up BBA, so that he could go ahead with a Masters in Business Administration. He flew to Pune to accelerate his career growth with a post graduation in Marketing from a well-known college in the city. “My aim was to make my corporate career and serve the society in every possible way,” said Trivedi. “Graduation days were the best part of my academic life. Although, I have explored and enjoyed much more during my post graduation than my graduation days, the best moments were during my graduation,” recalls University topper Trivedi, who had organised grand fresher parties for his juniors along with his batch mates. However, it
46 / Corporate Citizen / May 1-15, 2017
was a farewell party, which separated him from his friends, but he is still in touch with them all.
A class topper
There was nothing like ‘most liked subjects’, he used to attend all lectures. “I used to attend all the lectures, but accounts and financial management were not to my liking”. “All our teachers were good, they taught us well and were al-
ways forthright in answering our queries. They would welcome our thoughts and ideas and motivated everyone at academics.” He was a favourite of his teacher in the school, Mary K Joshua. She was not just a teacher, but also a motherly figure to all the kids in the class. “It is now over five years, and unfortunately I have lost contact. But she is still in my heart as she used to take care of me like my mother during my Ryan days.”
Life is also about learning and continuously experiencing from various situations. Difficult times create different opportunities for you to experience. Life is like a school and we are here to learn, problems are simply part of the curriculum Trivedi is also thankful to Sree Hari, his other favourite teacher in Ryan days for always being there to guide and teach. He is still in touch with him. Good in academics, he was famous among the teachers in his college days. “It was Prof Ravi Shanker Tiwari and Dr Vivek Sachan, who shared their knowledge and paved my path to the corporate world. I am very much thankful to them, and most importantly, they were always there to clear our doubts and they were not just teachers, but friends too”. Trivedi is always there to help his juniors in every possible way as he loves sharing
his knowledge and experience with them.
Placement blues
“I was the first one to get placed in my batch. This day in my life will go a long way in my memory. I am thankful to everyone who directly or indirectly played a role in shaping my life,” said Trivedi. He liked marketing. Having done his homework well about FMCG companies it was not difficult for Trivedi, as he was among the 34 shortlisted out of 125 students for management trainees for CavinKare. Staying positive at every round gave Trivedi an edge over the others. “During the entire process,
staying positive and performing better than the others boosted my morale and the panel was impressed with my confidence and communication skills”. “I never had any fear about my placement because I was confident of my efforts. However, there was a bit of fear in my mind whether I would be able to utilise my full potential,” said Trivedi. When the call came, there were tears of joy. “I first called my mother to convey the news of my placement, and that was the best moment of my life.” Growing up in the small town of Lalganj, life had been tough for Trivedi, marked as the place was, by a lack of infrastructure, power and opportunities for higher education. “I am fortunate that my parents encouraged me in my educational pursuit, and I am proud to be a flag bearer for Lalganj,” says Trivedi.
Success story
“I credit my success to my role models, my grandfather and my father who believed in me, and I will make sure they feel proud of me.” Trivedi was among the most enthusiastic and confident students during school and college days. He used to actively participate in all the events and activities of his school and college. Despite being involved in all these events, he never compromised in academics. “Being picked up by CavinKare was the happiest moment in my life as it was the day when I got the sense of being self-dependent. My family felt proud of me, congratulated me and wished me a good corporate career.” It was a dream come true. “I never thought I would be getting the opportunity to live my dream,” says Trivedi, who wants to explore each and every corner of the globe not as a tourist, but as a professional. Trivedi, unlike other school kids, watched movies that were based on corporate life. He was influenced by the culture of the corporate world, its board meetings, presentations, parties, corporate ambience and professionalism.
Dreams motivate
and making efforts in fulfilling those dreams. It’s about following your passion, he says. Dreams motivate an individual towards the betterment of self and society, he believes. “Life is also about learning and continuously experiencing from various situations. Difficult times create different opportunities for you to experience. Life is like a school and we are here to learn, problems are simply part of the curriculum that appear and fade away, but the lessons we learn last a lifetime,” he says.
Six points to ponder
Follow your passion and pursue a career involving that interest, and you'll have a great career. Never lose hope, just follow the mantra, ‘Whatever happens, happens for the good.’ Keep preparing and learning from whatever source you are exposed to. Without preparation, you can never win a battle. Being optimistic is the only way to overcome challenges and in utilising opportunities. Try to avoid negativity. Learn from mistakes, which will make you a better person. Falling is a first step towards success. Respect your parents and teachers and every other relationship. Be kind and helpful to everyone. joe78662@gmail.com
GST, India’s a k tad biggest tax reform CC
The GST is hailed as the biggest revamp of the tax regime since India’s independence in 1947. It is a step to harmonise a mosaic of state and central levies into a national sales tax. The measure is expected to create a single customs union, leading to a reduction in business transaction costs.
To him, life is all about dreaming May 1-15, 2017 / Corporate Citizen / 47
Loved & Married too
‘Adjustment is a beautiful word’
It is not often these days that a college romance fructifies into wedlock. Corporate Citizen unlocks the story of love that has culminated into marriage, for we believe in the stability of a relationship and family unit. We bring to you real-life romances that got sealed in marriage
Corporate couple Ankesh and Meetu Goyal from Bhopal show us how it is very much possible to harmoniously blend in a modern marriage and career aspirations with the long-standing tradition of a joint family system By Kalyani Sardesai
I
In a world where adjustment is seen as a strictly avoidable and highly disagreeable aspect of married life, this is one marriage that has embraced the word– and its ramifications–open-heartedly and willingly. Little wonder then that Ankesh and Meetu Goyal (both 33) are such a tightly bonded pair, despite the rough and tumble of demanding jobs and their 4-year-old son Kiaan. While Ankesh works with ISC Software Pvt Ltd as Manager (Business Analyst), Meetu has recently resumed her career full-time, after working from home for some time after her little one was born. Currently designated as GM (Business Development), Oga Technologies Pvt Ltd, it's a hectic time, managing home and work, but with a supportive husband and family rooting for her, she knows she can make it work.
Back to the beginning: The Campus Romance that wasn't!
Like most outstation students pursuing their MBA in Marketing and IT from the earliest batches of BIMHRD (2004 and 2005 respectively), both Ankesh and Meetu took their time finding their bearings around Pune. The schedule was demanding and both were determined to concentrate on their studies. “Little by little the interactions began, but they were mostly to 'clarify doubts and ask pointers,” reminisces Ankesh. “As seniors we generally watched over the juniors, and I would help out Meetu–and several others with their queries,” he says. “That has always been his most attractive quality,” says Meetu. “His helping nature and willingness to go out of his way for people.” On his part, he appreciated her honesty and upfront ways. “She's a simple person and always speaks her mind,” he says. 48 / Corporate Citizen / May 1-15, 2017
Still, cupid was a long way off
Both found placements in satellite cities–Delhi and Noida, but even then, the penny did not drop. “Our conversations became a bit longer, but it was always over phone. Where was the time to meet? I had a hectic schedule with Nucleus Software Exports Ltd, while she had a similar one with Sify Technology,” says Ankesh. So when did they actually grow closer? “It was around
December 2007 when I was taking a short vacation with my family in Ludhiana before joining a new workplace in Hyderabad when the chats really intensified. We had much to share, and it was great fun to discuss things with each other. The conversation just seemed to flow,” says Meetu. Even as she savoured their compatibility, she was keen to take it one step further and proposed to him in early Jan, 2008. “In the course of our usual late night call, I told him that I cared for him and would be happy to spend my future with him,” she says. There was pin-drop silence. As he recovered from the surprise, Ankesh assured her that he liked her very much too, but would like to give it more time. Over the next few days, they would gradually discuss how things would be after marriage. “I was very clear on the fact that I believed in the joint family system and that I came from a pretty traditional and orthodox home,” he says. A point to be seriously pondered over–despite their common Agrawal roots– considering Meetu is a single child from a nuclear family in Ludhiana. “But I said that I would adjust and do my bit in co-existing peacefully with his brother's family and my in laws,” she says. A fortnight later, Ankesh accepted her proposal with the confidence that they were onto a great innings together. Admittedly, Meetu's parents were concerned. “Like everyone else, they would have preferred me to stay closer post marriage–but Bhopal, Ankesh's hometown–was a 17 hours journey from Ludhiana. Plus, they wondered how I would fare in a joint family after having grown up in a carefree, modern setup,” says Meetu. So when her dad finally met Ankesh, he told him that while he had no objection to the marriage, he was to make sure that his daughter would stay happy–always. “Ankesh conveyed to dad that he totally understood that I was an only child with no siblings, and would, therefore, take care of me in every way. He assured dad that he was totally committed to supporting and caring for his partner in every way possible,” smiles Meetu. “Dad was convinced that he was the right match for me, and gave us our blessing.” They finally tied the knot in March 2012 amidst a funfilled but traditional revelry.
The foundation of a marriage
Though they've had their shares of ups and downs post marriage, it has largely been a smooth journey thanks to everyone doing their bit to get along. “My parents treat her like a daughter, not a daughter-in-law, while she has also accepted the changes in a sporting and understanding spirit,” says Ankesh. “Relationships are always a two-way street.” And the adjustment has been worth it. “I was keen to
I work a fiveday week, while she puts in six days. This means my Saturdays are free and I spend them completely with Kiaan - Ankesh
The mantras of a marriage ▶ Get to know each
other well, so you know whether or not your values match. The decision to marry must be carefully analysed from all angles
▶ Trust and respect
your partner. Cherish their dreams
▶ Make the time and
effort to get to know each other’s families
▶ Marriage is all about
give and take. In a healthy relationship, both give in a little, to gain a lot
pursue my career post marriage, and Ankesh was in agreement: he did not want a well-qualified wife not to work. “I can go to work, relaxed in the knowledge that my son is being well-cared for. Everyone is understanding; they realise I have just started work again, and work must come first,” affirms Meetu. “Sure, I have responsibilities to fulfil at home, but I have immense support from both my husband and inlaws and everything is possible.” She cites a recent example to bring home her point. “We are a fairly religious family and make it a point to mark all traditional occasions with pujas and havans. We had an important puja-cum-meal at home the other day–about 100 people had been invited. But it coincided with my meeting–and my family understood that work comes first. It was Ankesh who took a half day from work, and helped out, while I joined them in the evening,’’ says Meetu. Quality time with family is carefully marked out. “I work a five-day week, while she puts in six days. This means my Saturdays are free and I spend them completely with Kiaan. In the evening we pick up Meetu from work, and it's off to a movie and dinner, usually. Sundays are ear-marked for family outings,” says Ankesh.
Bringing up baby
Parenting is an integral test of each couple's teamwork, and though Kiaan is young, he knows his limits! “He is particularly scared of mom; she's the strict one. I am way more lenient, but the minute he knows mom is coming to check on him, he will quickly drink up his milk and finish his meal,” laughs Ankesh. And though little Kiaan is everyone's blue-eyed boy, it is in his happy and loving personality that the merits of a joint family best shine through. “He is a very sweet child, and very understanding that mamma has to go to work. Sure, he does have his little tantrums, but they are comparatively few. On the whole, he is a well-adjusted and generous little boy and I credit the elders in the family for that,” says Meetu, the proud mother. Even as Ankesh chips in: “He is growing up with the right sanskaars–in a secure atmosphere. It is a blessing to have his grandparents right here.”
The pillars of a relationship
“Trust and loyalty are hugely important. When you have these qualities in your partner, everything else falls in place,” says Ankesh. For her part, Meetu is appreciative of his down-to-earth nature and straightforward ways. “He had promised me that he would support me in every way possible, post marriage and he has,” she says. “He takes pride in my achievements, and I can share my professional issues with him, confident that he will give good advice.” Shared values include a deep and abiding belief in God and the system of family. “For both of us, family comes first.’’ At the end of the day, this is a relationship rooted in a long-standing friendship and a carefully-thought out decision to marry, after weighing the pros and cons. “We knew what we were doing–and it shows,” rounds off Meetu. kalyanisardesai@gmail.com May 1-15, 2017 / Corporate Citizen / 49
India Macro Survey
India’s Macro Challenges The Indian economy as a whole is going through a turbulent time. On the one hand, the GDP is better than expected and on the other exports have plummeted. With a view to understand the macro economic challenges facing India, Citi research conducted the India Macro View survey. Corporate Citizen presents the results By Neeraj Varty
50 / Corporate Citizen / May 1-15, 2017
India
is going through a painfully gradual cyclical recovery. The urban markets are recovering, but rural markets have hit a roadblock. The good news is GDP remains stable at 7.7%. Indians have started spending more as a result of an increase in disposable income, especially riding on the back of the 7th pay commission. In urban areas, market demand is quite healthy, but rural demand is still trailing behind. Inflation, one of the key indicators of a healthy economy, has stayed low. While this is good news, the chief reason for low inflation is the drop in global oil prices. As these prices stabilise, inflation is likely to grow again. India is its villages, and in that way, the rural income is a key indicator of growth. Rural wages, which were on a rapid downswing since 2011, are finally showing some signs of stabilising. India’s exports, however, paint a grip picture. Oil dependent exports are at an all-time low. Non-oil related export, although marginally better, are still not doing great. Let us consider each of these points in detail:
Consumption growth to get a boost from 7th Pay Commission
Figure 1. Sequential trends in real GDP stabilize‌
YoY% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%
FY17E consumption growth is likely to get a boost from the 7th Pay Commission recommendations to increase salaries of public-sector employees by 23.5%. This will lead to a higher rate of spending amongst government employees.
Net exports to drop significantly YoY%
1QFY13 3QFY13 1QFY14 3QFY14 1QFY15 3QFY15 1QFY16 Real GDP,YoY Real GDP, QoQ SAAR
Source: CSO, Seasonal adjustment using TRAMO-SEATS, Citi Research
9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 -1.0
Stable GDP After consecutive years of bad monsoons, it was feared that the GDP would drop drastically. Fortunately, these fears appear to have been unfounded. The GDP is stable at 7.7%, up from 7.5% in 2016, although it has dropped from its peak of nearly 8.5% in 2015.
4.4
0.4
6.2 3.2
0.4
7.1
3.6
(0.1)
(0.2) FY13
7.8
FY14 Domestic
FY15
FY16E External
FY17E
With sustained improvement in the trade deficit, net exports started contributing positively from FY14. However, this trend might reverse in FY17E where the contribution of net exports to GDP growth will plummet as trade deficit worsens on the back of tepid global growth and an overvalued currency. May 1-15, 2017 / Corporate Citizen / 51
India Macro Survey Urban Vs rural Demand 0.80
0.70
0.60
0.50
0.40
0.30
0.20 Jun-01
Jun-03
Jun-05
Jun-07
Jun-09
Jun-11
Jun-13
Jun-15
Urban Index 3m ma
Rural Index 3m ma
Urban demand has been improving from early 2014 and overtook the rural demand index in early 2015, the first time after 2008. On the other hand, rural demand has been on a steady decline from 2011as the effect of NREGA driven higher rural wages and higher MSPs for crops wear off and two consecutive droughts in 2014 and 2015 might have worsened the situation further. Recent data indicate a tentative stabilisation of the rural demand index.
Inflation has stayed low despite poor monsoon 25
0.0 Inflation eased despite poor monsoon in FY15/16
20 15
2.0 4.0
10 5
6.0
0
8.0
-5
10.0
-10
12.0 Despite a poor monsoon, inflation has still stayed
-15
low. This could be due to a good GDP rate and
14.0 the falling of crude oil prices globally which led
-20
to a fall in production costs. Besides, these tran-
16.0 sitory factors, the CPI inflation in FY17 is likely
Rainfall Deviation from Normal, LHS% 52 / Corporate Citizen / May 1-15, 2017
FY 15
FY 13
FY 11
FY 09
FY 07
FY 05
FY 03
FY 01
FY 99
FY 97
FY 95
FY 93
FY 91
-25
CPI (YoY), RHS, Inv
to see moderate level of momentum due to stable rural wages, low retail pricing power in food, normal monsoon, changing sowing pattern towards remunerative crops like pulses and benign trend in global commodity prices.
Rural wages have stabilised at moderate levels 30
rural wage
farm
new labour data
non farm
25
Rural wages have stabilised after dropping drastically from their peak in 2011. From 2014-15, rural wages are finally showing signs of an upward swing.
20 15 10 5
Oct-15
Oct-14
Oct-13
Oct-12
Oct-11
Oct-10
Oct-09
Oct-08
Oct-07
Oct-06
Oct-05
0
India’s imports collapse in line with global trade
Double-digit decline in India’s exports
%YoY
India’s external trade likely fell for second consecutive year in FY16E, with both exports and imports contracting by 18.5%YoY and 17.2%YoY in the period Apr-Nov ’15. As per WTO, the meltdown in India’s exports and imports was even sharper than the global trade which contracted by 12- 13%YoY. This can be attributed to the higher share of petroleum products (20% of FY15 exports, 35% of FY15 imports) in India’s trade basket. Excluding petroleum products, India’s exports and imports would have fallen by 9.4%YoY and 4.4%YoY respectively in Apr-Nov ’15.
100% 80% 60% 40% 20% 0% -20% -40% -60% Nov 07
Nov 08 Nov 09 Nov 10 Nov 11 Nov 12 Nov 13 Nov 14 Nov 15 World imports YoY India imports YoY
Aluminium Prods
Copper Prods
Finished Leather
Iron&Steel
Basmoti Rice
Bulk Drugs
Cotton Yarn
Marine Products
Drug Formulat
Meat
75% 60% 45% 30% 15% 0% -15% -30%
Petro Products
Non-oil exports volume growth still resilient
The quantity of certain exports (meat, marine products, and petroleum products) have fallen, but the decline is not widespread. In fact, export volumes have increased substantially for metal and related products, Basmati rice, bulk drugs etc. Similarly, on the imports front, we have seen increase in volumes for various commodities such as base metals, crude petroleum and vegetable oils. neeraj.varty07@gmail.com May 1-15, 2017 / Corporate Citizen / 53
Health
Keep your energy channels flowing Fitness for Prashanth Nagrajan is being able to climb 15 floors if the lift is not working. And then being able to normalise your breath in under a minute. It is about being able to lift your child 20 times a day without hurting your back. It is about eating the right kind of food and more importantly, NOT eating the wrong stuff By Sharmila Chand
An
An engineer by qualification, Prashanth Nagrajan joined his family run printing business straight out of college and learned the ropes from the ground up. After spending a couple of years in the business, he headed to the prestigious Rochester Institute of Technology, New York to earn his Masters in Print Media. Returning to his family business in 2009, he took over the responsibilities of running the business from the previous generation and continued to be at the helm of affairs till 2015. In June of 2015, he was offered the position of AVP of Operations by one of India’s fastest growing startup–Grofers. In this role, he was responsible for the Operations of three cities. After donning many interesting hats at Grofers, he pursued his entrepreneurial passion and cofounded Qtrove in March of 2016. Now he heads the business side of Qtrove and is responsible for Sales, Business Development, Seller Management and Brand Building through Offline Marketing. Having been a physically active person from a very young age, he realised the importance of being active, even more so now, at the age of 33 years. He is very enthusiastic about updating himself about the latest healthy eating habits as well as understanding how the body works. And most importantly, he loves his 7-8 hours of sleep every day!
Philosophy on fitness
I find it quite amusing when I meet someone in my parent’s generation and they ask me “are you into weightlifting/bodybuilding?” and they gesture with a bicep curl. The perception of fitness to a lot of people is still about lifting heavy weights or running on a treadmill. They do tend to forget the kind of weights, housewives of yes54 / Corporate Citizen / May 1-15, 2017
teryears used to lift on a daily basis. A bucket full of water weighs about 20 kilos! Fitness for me is about keeping your energy channels flowing. It is NOT about how many abs you have, what your waist size is or the inches of your biceps. Fitness to me is being able to climb 15 floors if the lift is not working. And
then being able to normalise your breath in under a minute. It is about being able to lift your child 20 times a day without hurting your back. It is about eating the right kind of food and more importantly, NOT eating the wrong stuff. My parents made sure I enjoyed sports from an early age. I trained professionally for swimming from the age of eight and was representing Tamil Nadu at the National levels by age 10. I would advise all parents to get their
children into activity sports from a very young age. Don’t spend money on an Xbox. Spend it on the best sports training facilities. You won’t regret it.
Mantra about keeping fit
Exercise or take a walk whenever possible
through the day; avoid sitting for long periods and eat healthy. And read up about nutrition. It is one of the most misunderstood topics. I believe everyone must know what they are eating and the significance of what they put in their body.
What keeps you fit and healthy?
I try to exercise with high intensity at least 3-4 times a week. Thankfully, from a young age,
Exercise fundamentals
Having a gym membership is not necessary. Although it is definitely motivating to work out in a group setting, it is definitely not cheap. But we are all born with the best and cheapest set of weights possible-our bodies. There are at least 100 different body weight exercises you can do on a daily basis for 30 minutes or so and break out into a real sweat. Push, Pull, Jump, Squat, Hinge and Crawl. All of this improves your mobility. All you have to do is Google body weight workouts that can be done at home. Sitting is the new smoking. On an average, we all sit for 6-8 hours a day. Sit on the pot, on the breakfast table, while travelling to work, at work, during lunch and dinner, in front of the TV and probably a couple of times in between all of this. We need to consciously sit a lot less and move around. The human body was not meant to sit for this long. I soon plan to get a standing workstation.
Diet fads
Fancy diets are just that. A fad. Embark on something that is sustainable. If you think you can stay off carbs to lose weight, I am sure you can. But for how long? And what happens when you restart your carb routine? I would rather eat everything in moderation and exercise regularly.
Yoga (or anything else) regime
I used to wake up early so am still a morning person. When I get done with my workout in the morning, I feel energetic all day long. I am sure a lot of it is psychological, but hey, whatever works right! I also try and eat 4-5 fruits and vegetables every day. And as far as possible, avoid sweets and fried foods. I have never been a fan of fizzy sodas so I guess that helps too. Having said that, I do have my weaknesses as well and can’t say no to some nicely crafted beer or a glass or Cabernet.
Stress busters
My most calming time of the day is the two km walk to and from my gym. The air is moderately clean, it is quiet and I listen to my podcasts and don’t have to think about anything much.
Sometimes in the evenings, I indulge in a couple of games of chess with my wife.
Food philosophy
“I would advise all parents to get their children into activity sports from a very young age. Don’t spend money on an Xbox. Spend it on the best sports training facilities. You won’t regret it”
The reason our grandparents lived with relatively few health problems into their 80s is mainly attributed to their active lifestyle and their food habits. I try to keep it simple. Have as many home cooked meals as possible. Cook with coconut oil or ghee at home. Get as many fruits and veggies as possible into your diet every day. Drink at least 3-4 litres of water. Load up on proteins and go easy on carbs. And if you eat eggs, don’t miss out on the yolk. That’s the healthiest part!
I go to The Cult where I get to choose between Crossfit, Kettlebell training, Yoga, and Mixed Martrial Arts (MMA) on a daily basis. This also helps me look forward to the next workout.
Healthy dose as parting shots
Do not fall for any quick fixes. Be it diets, magic fat burning pills or those vibrating belts that is supposed to melt the fat right off your belly. Like all things in life, staying healthy involves effort and patience. But there is no better feeling of accomplishment. And the best part? It is all for your own good. With the kind of stress that we all go through and the levels of air, water and food pollution we are exposed to, we need to consciously overcompensate to stay healthy. Keep that phone aside and get your required 7-8 hours of undisturbed sleep. And finally, stay calm. No good can come from yelling at people. Just take a couple of deep breaths and move on. Chand.sharmila@gmail.com
May 1-15, 2017 / Corporate Citizen / 55
Pearls of Wisdom
Yogaunites you with
existence
Yoga transforms and liberates human beings so that they can reach this unbounded state and as per Sadhguru, Yoga means to be in perfect tune. Your body, mind and spirit and the existence are in absolute harmony. When you fine-tune yourself to a point, where everything functions so beautifully within you, the best of your abilities will naturally flow out of you
56 / Corporate Citizen / May 1-15, 2017
here is a beautiful story about a caterpillar that lived much of its life believing that it had come into being only to eat and sleep and do what the rest of the caterpillars did. However, it was unhappy. Somehow it sensed that its life had another dimension not yet experienced. One day, driven by a strange longing, it decided to become still and silent. It hung from the branch of a tree, weaving a cocoon around itself. Inside the cocoon, although constrained and uncomfortable, it waited, sensing and aware. Its patience bore fruit, for when the cocoon burst open it was no longer the lowly worm that went in, but a beautiful, resplendent, winged butterfly which dazzled the sky. It soared and flew, no longer limited to its worm-like existence, but free and unbounded. The caterpillar had been transformed into a thing of air and lightness, magic and beauty. Once the transformation had taken place, it was impossible for the butterfly to return to being a worm. In the cocoon, the caterpillar had become one with its inner being and in this union, it reached its ultimate nature. What happened in the cocoon can be described as Yoga. Yoga is the path towards being boundless. Yoga transforms and liberates human beings so that they can reach this unbounded state. Humans, unlike animals, are not merely existing. They are becoming. To evolve as a human being is to become aware of one's limitations; to strive, with intense passion, towards the transcendence for which we all have the potential.
What is Yoga?
The ancient Yogic discipline is far more than a fitness method for physical health or a psychological tool to achieve peace and happiness. Wellness of body and mind, often touted as the primary benefit of modern Yoga practice, is merely a by-product of becoming a fully balanced and vibrantly alive being. The Sanskrit word “Yoga” comes from the word “Yug” which means, “to unite.” Hence, Yoga is the union of the individual with the whole of existence, also commonly referred to as “Self-Realisation,” “Nirvana,” “mukti,” or “Enlightenment.” Yoga also refers to the inner technology that will lead one to this experience−a technology formulated from rigorous inner observation, by ancient yogis over thousands of years. With their extraordinary perception and mastery over every aspect of the human mechanism, these great yogis delved into their own systems, uncovering the nature of the cosmos−a macrocosm of the human system. Initially, Yoga was imparted by the Adiyogi (the first Yogi), Shiva, over 15,000 years ago. It was the Adiyogi who introduced to humanity the idea that one can evolve beyond one’s present level of existence. He poured his knowing into the legendary Sapta Rishis, or seven sages, who took the tremendous possibility offered by the Yogic science to various parts of the world, including Asia, ancient Persia, Northern Africa, and South America. It is
“You can go through life untouched, you can play with life whichever way you want, and still life cannot leave a scratch upon you. That is the miracle that Isha Yoga can manifest in everyone's life” − Sadhguru this fundamental yet sophisticated science of elevating human consciousness that is the source of the world’s spiritual traditions, predating religion by many thousands of years.
Isha Yoga
In the Yogic tradition, the word “Yoga” is attached only to a complete path, which leads to self-realisation. Isha Yoga is a comprehensive system that integrates the core of Yogic science and presents it for the modern human being. Isha Yoga programs allow individuals to take tangible steps towards their inner growth. Designed by Sadhguru, these programs are a rare opportunity for self-discovery under the guidance of a realised master. At Isha, Yoga is taught in its full depth and dimension and communicated on an experiential level. The programs provide methods for establishing oneself in a way of life that affirms wholeness and vitality. They show that spiritual life does not deny worldly, social, and family responsibilities, but rather uses them as vehicles for personal growth and self-realisation. An array of programs are conducted regularly by Isha worldwide. The programs involve simple postures, meditation and powerful ways of transforming one's energies. They do not require physical agility or any previous knowledge or experience of Yoga. Tailored to suit individuals from every social and cultural background, Isha Yoga programs provide powerful tools for inner exploration. (Information courtesy: isha.sadhguru.org) CC
tadka
India fastest growing economy India is projected to remain as the fastest growing major economy in the world with growth expected to be over 7.4% in 2017 and 7.6% in 2018, while expansion in China is likely to slow in the next two years, as per the latest forecast of the Asian Development Bank (ADB).
May 1-15, 2017 / Corporate Citizen / 57
Bollywood Biz
2017 The
National Award Winners There are countless movie award shows in India, but very few which are actually credible. The most prestigious and legitimate of these are the National Film Awards. Picked by an eminent jury of respected filmmakers, these awards honour the best of Indian cinema, not just Bollywood. This edition, Corporate Citizen brings you the winners of the 64th National Film Awards By Neeraj Varty
Rajesh Mapuskar for Ventilator (Marathi)
Best Direction
Ventilator is a 2016 Indian Marathi language comedy-drama film written and directed by Rajesh Mapuskar and produced by Priyanka Chopra. Featuring an ensemble cast of more than 100 actors including Jitendra Joshi, Sulabha Arya, Sukanya Kulkarni—Mone, Viju Khote, Achyut Potdar, Usha Nadkarni, Swati Chitnis and Deepak Shirke. The film tells the story of a joint family whose eldest and the most respected person goes into a coma few days before the Ganesh Chaturthi festival. The film won three awards at the 64th National Film Awards: Best Director for Mapuskar, Best Editing and Best Sound Mixing.
58 / Corporate Citizen / May 1-15, 2017
Best Actor
Akshay Kumar for Rustom (Hindi)
Rustom is courtroom drama film starring Akshay Kumar and Illena D’Cruz, loosely based on the famous Nanavati murder trial, which led to the abolishment of the Jury system in the Indian Judiciary. The movie was a huge hit, and Akshay Kumar has turned in a controlled performance as the titular Rustom. However, Askhay’s win hasn’t been unanimously well received, and there has been criticism from several quarters about whether Rustom was indeed a national award winning performance, when there were several other performances by other actors in contention.
Best Feature Film
Kaasav (Marathi)
A forward-thinking Indian lady offers the shelter of her beach house to a suicidal young man in Turtle (Kaasav), which is a heartfelt social drama from the award-winning directing/ producing team Sumitra Bhave and Sunil Sukthankar. Just as mother sea turtles must lay their eggs and hope for the best from their offspring, the lady too, creates an emotional incubator until her houseguest can swim away on his own. It’s a pretty story told in tropical splendour on the beaches of Goa, but underneath the feel-good surface lies serious psychology and pro filmmaking. Starring Irawati Harshe, Alok Rajwade, Kishor Kadam and Dr. Mohan Agashe, Kaasav is filled with memorable performances and artful direction. Don’t miss it for the world.
Surabhi C M for Minnaminungu-the Firefly (Malayalam)
Best Actress
Famous Malyalam dancer-cum-theatre artiste Surabhi C M won the Best Actress award for her performance in Minnaminungu. Directed by Anil Thomas, the film has her playing the role of a 45-year-old mom from Trivandrum, who is bogged down by the various issues in her life. The movie completely hinges on the shoulders of Surabhi, and she has essayed her role beautifully. Watch it for her hard-hitting performance.
May 1-15, 2017 / Corporate Citizen / 59
Mobile Apps
▶ Smart Car Adapter
Automatic is a small car adapter that you plug into the on-board diagnostics port of your car to get all kinds of data about your vehicle. The device—which pairs with your phone via Bluetooth—diagnoses engine problems, remembers where you parked, displays your trip history, and can even call for help in the case of an accident. This device will ensure that you aren’t overcharged by your mechanic the next time you bring in your car for servicing. Buy it for `5,155.
▴ Dashcams
Best accessories
Dashcams can be used to not only shoot a memorable drive, but can also come in handy if you get into an accident. The forward facing camera won't protect you physically, but the footage it captures can be used to prove who is responsible for an car crash. The Z-Edge Dashcam can shoot 30 frames per second and will switch on automatically when you turn on your car and shut off once you switch the ignition off. You can buy the Z-Edge Dashcam for `16,449.
for your car
Your car is one of the most expensive possessions you have, and it makes good sense to ensure its longevity. There are a host of gadgets that can make your car more secure and definitely more stylish. This edition, Corporate Citizen presents the best accessories for your car By Neeraj Varty ◀ Bluetooth car kit
If you have an older car, chances are it isn’t Bluetooth enabled. The good news is that you don't have to buy a new car to be able to connect your smartphone to your vehicle via Bluetooth. Belkin's Bluetooth car kit plugs into your car so that you can play music and make calls over your car's speakers hands-free. The Belkin’s Bluetooth car kit is available on amazon for `9382.
Tire pressure monitoring system▶
The tire pressure monitoring system lets you easily keep tabs on the health of your tires. Carchet's monitoring system measures both the temperature and the pressure of the tires. It comes with four sensors that are attached to each tire and a monitoring display that is plugged into your vehicle's cigarette lighter. The display shows the pressure of each tire, so that you can easily detect when something goes wrong. The product is a bit expensive at `39,479, but can you really put a price on peace of mind? neeraj.varty07@gmail.com 60 / Corporate Citizen / May 1-15, 2017
Claps & Slaps Corporate Citizen Claps for Pune based astronomers from Tata Institute of Fundamental Research (TIFR) — National Centre for Radio Astronomy (NCRA), who have collaborated with University of California, Space Telescope Science Institute and University of Cambridge to discover a galaxy similar to the Milky Way This is the first time that a team was able to detect dust emissions from two galaxies in the far end of the universe. The latest research, published in the March 23rd edition of ‘Science’, observed and noted findings that this particular galaxy is filled with massive amounts of gaseous matter, which scientists claim, is in the nascent stage of star formation. Till date, it has not been possible for astronomers to identify or characterise galaxies on the basis of gaseous absorptions, as they gave away little information due to their faintness. However, for the first time, this team stumbled upon detections in the form of dust emissions from two galaxies in the far end of the universe. The findings have shaken off previous notions about the ways in which one would track these celestial formations. Reports quoted Nissim Kanekar, NCRA researcher, saying, “Since last three decades, until this discovery, we were under the impression that there could be small galaxies. However, they are definitely larger than the Milky Way, also possibly indicating that they could have more star forming capacity.” The research states high-metallicity absorptions to have physical properties those like a massive star-forming capacity, like our Milky Way. It also indicates that our galaxy too would have looked similar in its initial years of formation, revealed the research paper. The discovery was possible using data gathered by Atacama Large Millimeter/ Submillimeter Array (ALMA). “AMLA-aided researchers in getting ultraviolet radiations, which when hit the dust, gave away unknown information about the galaxy, which is very young in the time scale,” said Kanekar. This telescope came up in Chile three years back and is also a radio interferometer. While ALMA is capable of imaging the universe, it is also similar to the NCRA-run Giant Metrewave Telescope (GMRT) in Junnar, a city in Pune district with more than 1000 years of historical bearings. With the discovery of the new ‘Milky Way’, Pune and India can now look forward to many more historical landmarks in astronomy!
Corporate Citizen Slaps the lack of accountability displayed by defence run Canteen Stores Department (CSD) that has resulted in stocking and selling of substandard food and liquor supplies A recent report by the Comptroller and Auditor General (CAG) says the CSD has failed to generate monthly list of food and liquor items that are to be tested at food laboratories. This has caused high risk of sub-standard quality items being sold to the defence personnel! The report stated, during 2015-16, of the 1781 shortlisted items, only 589 were referred by CSD Depot Delhi and B D Bari to laboratories for testing. Situation was similar in 2014-15, where CAG said, “CSD head office (HO) shortlisted only 520 of 956 food and liquor products produced by the defence run Canteen Stores Department (CSD) for testing and of the shortlisted items, only 448 were sent to the labs between August 2014 and March 2015.” The CAG report has observed that the labs which collaborate with CSD did not provide test reports on the quality of 281 food items and 91 liquor items. Also, they received reports of just 76 tests conducted and some 35 samples (46 %) were found substandard. CAG has expressed its displeasure on the number of centres deployed for testing CSD food samples. It said, “Despite the assurance by the Ministry of Defence (MOD) to the parliamentary action committee to increase the number of centres for testing of food and liquor items, number of Composite Food Laboratories (CFLs) was reduced from six to three.” Though 100 per cent sample testing of food and liquor items is mandatory, CAG noted that products are sold without checks. “Given the fact that some of samples were found unfit, it is likely that some of the remaining food items issued and consumed without testing might not be of standard quality. This reflects that the depots failed in assuring the quality of products issued to Unit Run Canteens (URCs) and to the consumers.” The report further underlined the need for putting in place an ‘effective mechanism’ to ensure effective implementation of the quality control measures at all levels of the supply chain in CSD and almost 4000 URCs. The CAG has suggested the need for an ‘effective mechanism’ to ensure efficient implementation of the quality control measures at all levels of the supply chain through CSD and URCs. But, only time will tell if such measures cut the ice in a scenario in which demand for your subsidised ‘army’ canteen supplies far outnumber the layers of distribution channels that sure supplies the ‘froth’, albeit without the ‘fizz’! (Compiled by Sangeeta Ghosh Dastidar) May 1-15, 2017 / Corporate Citizen / 61
Leave On Time ! Dr (Col) A Balasubramanian
Mail sent by Narayana Murthy to all Infosys staff: It’s half past 8 in the office but the lights are still on… PCs still running, coffee machines still buzzing… And who’s at work? Most of them? And why are they sitting late? Working hard. No way! Any guesses. Let’s ask one of them… Here’s what he says… ‘What’s there to do after going home…Here we get to surf, AC, phone, food, coffee that is why I am working late…Importantly no boss!’ This is the scene in most research centres, software companies and other offshore offices. Bachelors ‘Passing-Time’ during late hours in the office just because they say they’ve nothing else to do… Now what are the consequences? ‘Working’ (for the record only) late hours soon becomes part of the company culture. With bosses more than eager to provide support to those ‘working’ late in the form of taxi vouchers, food vouchers and of course good feedback, (oh, he’s a hard worker….. goes home only to change). They aren’t helping things too. To hell with bosses who don’t understand the difference between ‘sitting’ late and ‘working’ late! Very soon, the boss starts expecting all employees to put in extra working hours. So, my dear bachelors let me tell you, life changes when you get married and start having a family. Office is no longer a priority, family is and that’s when the problem starts… because you start having commitments at home too. For your boss, the earlier ‘hardworking’ guy suddenly seems to become a ‘early leaver’ even if u leave an hour after regular time… after doing the same amount of work.
From My Mobile
People leaving on time after doing their tasks for the day are labelled as workshirkers… Girls who thankfully always (its changing nowadays… though) leave on time are labelled as ‘not up to it’. All the while, the bachelors pat their own backs and carry on ‘working’ not realising that they are spoiling the work culture at their own place and never realise that they would have to regret at one point of time. So what’s the moral of the story? Very clear, LEAVE ON TIME! Never put in extra time ‘unless really needed’. Don’t stay back unnecessarily and spoil your company work culture, which will in turn cause inconvenience to you and your colleagues. There are hundred other things to do in the evening… Learn music… Learn a foreign language… Try a sport… TT, cricket… Importantly, get a girlfriend or boyfriend; take him/her around town… And for heaven’s sake, net cafe rates have dropped to an all-time low (plus, no firewalls) and try cooking for a change. Take a tip from the Smirnoff ad: ‘Life’s calling, where are you?’ Please pass on this message to all those colleagues and please do it before leaving time, don’t stay back till midnight to forward this! It’s A Typical Indian Mentality That Working For Long Hours Means Very Hard Working & 100% Commitment Etc. People Who Regularly Sit Late In The Office Don’t Know To Manage Their Time. Simple! Regards, NARAYANA MURTHY
Nothing in life is permanent, be HUMBLE… Actor Dilip Kumar says..."At the peak of my career, I was once travelling by Airplane. The passenger next to me was elderly. Dressed in a simple shirt and pants, he appeared middle class but seemed to be well educated. Other passengers kept glancing at me, but this gentleman appeared to be unconcerned of me... He was reading his newspaper, looking out of the window, and when tea came, he sipped it quietly. Trying to strike a conversation, I smiled. The man courteously smiled back and said 'Hello'. We got talking and I brought the subject to cinema and asked, 'Do you watch films?' The man replied, 'Oh, very few. I did see one many years ago.' I mentioned that I worked in films myself. The man said, 'Oh, that’s nice. What do you do?' I replied, 'I am an actor.' The man nodded, 'Oh, that’s wonderful!' That was it...When we landed, I held out my hand and said, 'It was good to travel with you. By the way, my name is Dilip Kumar!' The man shook my hand and smiled, 'Thank you... I am J R D Tata' I learned, no matter how big you are, there is always someone bigger. "Be humble. It costs nothing.” - Dilip Kumar
62 / Corporate Citizen / May 1-15, 2017
Love wins over ungratefulness
ut! o t i h g Lau Why do we write 'etc'? it means... E - End of T - Thinking C - Capacity Why is Facebook such a hit? It works on the principle that ‘People are more interested in others life than their own’. What is the diff. between "GHAZAL" & "LECTURE”? Every word spoken by the girlfriend is "GHAZAL" and Every word spoken by wife is "LECTURE" What is the difference between Pongal and idli? think… think… Ans: You'll get a holiday for Pongal but not for idli. Teacher: What is the difference between Himami and tsunami? Pappu: Himami is facewash, tsunami is Total Wash! When you are in love, Wonders happen.. But once you get married, You wonder, what happened..
Son decides to admit the father in the old age home as desired by his wife (the daughter in law). He brings his father in the car to an orphanage cum old age home run by a Christian priest. The receptionist gives different choices like TV, AC, vegetarian food etc. Father says no TV, AC etc. Son goes out to bring luggage from car. The wife calls up to check whether all is fine. And insists that father need not come home even for festivals. The Christian priest appears and talks to the old man. Son wonders and asks the Christian priest whether he knows his father before as they were talking as though they knew each other. Christian priest says...Yes. He came here 30 years back and took with him an orphan boy in adoption. Speechless !!!
May 1-15, 2017 / Corporate Citizen / 63
astroturf The planetary power has been in the western social sector of your chart since February and now the planets are at their maximum western position. These days life is about others and not so much about self-interest.
Aries
Mar 21- April 20 Greatest days:2, 3 Hectic days:1, 7, 8, 14, 15 Honey days:2, 3, 7, 8, 12, 13 Money days:2, 3, 7, 8, 12, 13 Profession days:3, 13, 14, 15 Prosperity continues to be strong this month as your financial planet spends most of the month in your first house affecting your morale in a positive way. You will look and feel confident as you attract success coming your way. Sometimes it’s your own feelings that attract the good to your life.
TAURUS
April 21 - May 20 Greatest days:4, 5, 14, 15 Hectic days: 2, 3, 9, 10 Honey days: 2, 3, 4, 5, 9, 10, 12, 13, 14, 15 Money days: 2, 3, 7, 8, 13 Profession days: 3, 13 The month ahead is a month of prosperity as cosmos impels you to do what you most love to doFocus on your finances. Many nice financial developments are happening as your financial planet starts moving forward on the 3rd.
GEMINI
May 21 - June 21 Greatest days:7, 8 Hectic days:4, 5, 12, 13 Honey days:2, 3, 7, 8, 12, 13 Money days:1, 4, 5, 7, 8, 14 Profession days:1, 9, 10 You can expect a very happy and productive month ahead as your personal power and independence are at their maximum for the year. Students will get success and the results will co-relate with efforts.
CANCER
Jun 22 - July 23 Greatest days: 1, 9, 10 Hectic days:7, 8, 14, 15 Honey days:2, 3, 12, 13, 14, 15 Money days:2, 3, 4, 5, 7, 8, 14, 15 Profession days:7
(www.dollymanghat.com)
Fortune favours the bold and the lucky
Your attitude is your altitude, says Dolly Manghat, our renowned astrological expert and believes she helps people create their own prophecies rather than live predictions Social networking will lead to better work, bringing in monetary gains. Buying latest technology gadgets improves your efficiency at work. It’s time for creative marketing sales, PR and advertising using available media.
LEO
July 24 - Aug 23 Greatest days:2, 3, 12, 13 Hectic days:10 Honey days:2, 3, 12, 13 Money days:2, 3, 4, 5, 7, 8, 13 Profession days:2, 3, 12, 13 You must felt the fast pace of life in March and April, just the way you like it, but now its the time to slow down. There is more retrograde activity happening and the fire element is less intense than in the past two months.
VIRGO
Aug 24 - Sept 23 Greatest days:4, 5, 14, 15 Hectic days:12, 13 Honey days:1, 2, 3, 9, 10, 12, 13 Money days:2, 3, 7, 8, 12, 13 Profession days:2, 3, 13 Health is good. Happy educational opportunities also come and you need to take big leaps and risks. Often religious and philosophical breakthroughs happen. This is a very good period for students as success is there in accordance to the efforts put in.
64 / Corporate Citizen / May 1-15, 2017
LIBRA
Sept 24 - Oct 22 Greatest days:7, 8 Hectic days:1, 14, 15 Honey days:2, 3, 7, 8, 12, 13 Money days:4, 5, 7, 8, 9, 10, 14, 15 Profession days: 1, 4, 5, 14, 15 Health and energy get better by the day especially if you are getting adequate rest between work. Your 8th house becomes powerful on April 9th and remains strong until the 20th.
SCORPIO
Oct 23 - Nov 22 Greatest days:1, 9, 10 Hectic days:2, 3 Honey days:2, 3, 12, 13 Money days: 7, 8, 12, 13 Profession days: 2, 3, 4, 5, 14, 15 For many years, you have really not experienced complete freedom. This is because the long-term planets with the exception of Jupiter all are in the bottom half of your chart. Like last month there is a lot of career related activity.
SAGITTARIUS
Nov 23 - Dec 22 Greatest days:2, 3, 12, 13 Hectic days:4, 5 Honey days:2, 3, 12, 13 Money days:3, 7, 8, 13, 14, 15 Profession days:2, 3, 4, 5, 13, 16
CAPRICORN
Dec 23 - Jan 20 Greatest days:4, 5, 14, 15 Hectic days:1, 7, 8 Honey days:1, 2, 3, 12, 13 Money days:3, 7, 8,13 Profession days:2, 3, 7, 8, 12, 13 Health is much improved. This is a good financial period, it shows financial increase and good financial ideas. The overall social life will become stronger. sector.
AQUARIUS
Jan 21 - Feb19 Greatest days:7, 8 Hectic days:2, 3, 9, 10 Honey days:2, 3, 4, 5, 13, 14, 15 Money days:1, 7, 8, 9, 10 Profession days:4, 5, 9, 10, 14, 15 Love is still close to home this month. There is more socialising from home and with family members or family connections. This is a period until 20th where a romantic personal time will be more beneficial.
PISCES
Feb 20 - Mar 20 Greatest days:1, 9, 10 Hectic days:4, 5, 12, 13 Honey days: 2, 3, 4, 5, 12, 13 Money days:7, 8 Profession days: 7, 8, 12, 13 The planetary power will be at the lowest level of your chart. The planetary is ‘most distant’ from the career so you should be focused on getting the home and domestic situation in order. Address: 143, St Patrick’s Town, Gate# 3, Hadapsar IE, Pune-411 013. Tel.: 020-26872677 / 020-32905748 Email: connect@dollymanghat.com/ info.dollymanghat@gmail.com
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CRADLE OF LEADERSHIP
PROF. SUDHIR K SOPORY, VICE CHANCELLOR, JAWAHARLAL NEHRU UNIVERSITY (JNU) Volume 1, Issue No. 21 / Pages 68 / www.corporatecitizen.in
January 1-15, 2016 / `50
CORPORATE CULTURE
Chanda Kochhar, MD & CEO, ICICI Bank on women in leadership and gender diversity
INTERVIEW
An in-depth interview with Vishal Parekh, Marketing Director India with Kingston Technology and Rajeev Bhadauria, Director, Group HR, at Jindal Steel & Power
Dynamic Duo 21 MEERA SHANKAR AND AJAY SHANKAR
UNFLINCHING SUPPORT
May 1-15, 2017 / Corporate Citizen / 65
THE LAST WORD
Ganesh Natarajan
Spreading the joy of doing good The opportunities for spreading good work are getting created everywhere and there are many causes we can attribute this to. First and foremost is the confidence in strong political leadership that is emerging in all our minds, which will provide the space and the freedom to build the inclusive India
S
ome years ago, one of India’s best writers and thinkers Gurcharan Das wrote his epic titled “The difficulty of being good” on the Mahabharata. Delving deep into the dilemmas of Yudhishthira, the book,which is a must-read for all social and corporate thinkers, brought out in many ways how doing and being good is no easy task in a world where opportunism and expediency lead most people to devious thinking and action. However, today it appears that the impetus and the opportunities for doing good have become stronger in our country and as a society, we have the possibilities of making significant and enduring changes happen! Three events in the last few weeks have given me this conviction that there is a true coalition for good happening in various parts of the country, which can be tapped. The first was in my own karma bhoomi of Pune where the Social Venture Partners group has now crossed over 50 well-meaning individuals ranging from well-known industrialists to young social workers and college lecturers. The enthusiasm this group possesses is truly contagious and our structure embraces true venture philanthropy principles in a professional yet friendly manner. An active grants search and review committee; a partner nominations and engage-
The third exciting development has been the warm welcome extended to me and the CEO of Pune City Connect, Ruchi Mathur, in the lovely city of Aurangabad when we visited to explain the progress in the PCC collaboration with PMC in Pune. The Mayor, Deputy Mayor, Standing Committee Chairman, Commissioner, industry leaders and mentors, members of the academic community and civil society listened to our experiences with rapt attention and have committed to make a similar initiative successful in their city. Add to this their
ment committee and engaged lead partners for each NGO we support with time, money and mentorship, ensures that the good intentions all of us have is translated to a sense of purpose and action on the ground. The national board of SVP, which is championing the Million Jobs Mission in the country and the global Young students in our board of SDVP, schools and colleges will which is making also ensure that the youth social change happen in multiple of the country is willing countries are all to step out and also raise vindications of the their voices in support of theme of spreading good movements goodwill and good societal actions. The second epiphany for me interest in projecting the tourism was the popularity that the work opportunities in that city and we of Pune City Connect now enjoys can see an environment of good iniand the eagerness of well-meantiatives leading to great outcomes in ing citizens to share in its activities that city this year. and success. The Young Indians So, what really is happening group of CII Pune had invited the here? The opportunities for spreadPune Municipal Commissioner ing good work are getting created and me to share our thoughts on everywhere and there are many what could be a worthwhile social causes we can attribute this to. First agenda. They have readily agreed to and foremost is the confidence in spearhead the engagement processstrong political leadership that is es with various segments of society emerging in all our minds, which to ensure wide spread participation will provide the space and the freein the exciting programs of Skills dom to build the inclusive India Lighthouses, Municipal School that is there in all our aspirations. Transformation, 100% digital literGST, a better enforced tax regime acy for Pune and City Transformaand the accelerating growth of the tion support. We can and will make economy will provide the “feel it a city-wide movement. good” factor that loosens the purse
66 / Corporate Citizen / May 1-15, 2017
strings of the rich members of the corporate community and enables more money to flow through to the masses. Social consciousness, that campaigns like NDTV’s Behtar India and many others are bringing to all segment of society−particularly young students in our schools and colleges, will also ensure that the youth of the country is willing to step out and do good and also raise their voices in support of good movements. And this spirit of collective endeavour can quickly spread and pervade all corners of our vast country. I still recall my early school days in the villages of Tatisilwai and Namkum in Bihar (now Jharkhand), where my father, Late Shri Ganapati Natarajan ran Waxpol Industries company and spent most of his spare time running a “Seva Kendra” for the underprivileged. My sister and I had the privilege of participating in this initiative and this instilled in us the natural aspiration to do what we could to serve the people and bring every citizen to an active participation level. In later years, this encouraged me to start our family foundation, the Natarajan Education Society. Today, with NASSCOM Foundation, Social Venture Partners, Pune City Connect and NES, my social cup of joy is overflowing. Thereby stems the belief that every citizen of the country can and should have the opportunity to participate and make this country the best place for all its citizens. Dr. Ganesh Natarajan is Chairman of 5F World, Pune City Connect & Social Venture Partners, Pune.
Printed and published by Suresh Chandra Padhy on behalf of Sri Balaji Society. Editor: Suresh Chandra Padhy. Published from : 925/5, Mujumdar Apt, F.C. Road, Pune - 411004, Maharashtra. Printed at Magna Graphics (I) Ltd., 101-C&D Govt. Industrial Estate, Hindustan Naka, Kandivali (W), Mumbai - 400067.