CRADLE OF LEADERSHIP Dr RP Rustagi, Principal (Officiating), Shri Ram College of Commerce (SRCC), Delhi Volume 3, Issue No. 10 / Pages 68 / www.corporatecitizen.in
NHRDN Career Fest 2017 Career opportunities as a Data Scientist
Corporate Debate
India VS BRIC survey by professional services firm EY
Loved and Married Too
Doctors Yogeshwari and Anay Deshmukh
Dash of drive
Dynamic Duo: 55
Sanjay Krishnan, CEO, Lithium Urban Technologies Pvt. Ltd., Bengaluru and Priya Krishnan, CEO, KLAY (Kids, Learning and You)
August 1-15, 2017 / `50
From The Wall
Heart tugging post by Salma Ghori, whose husband, Major Shafeeq Ghori, was martyred in Kashmir
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August 1-15, 2017 / Corporate Citizen / 67
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Truly unique magazine
Corporate Citizen is truly a unique magazine that publishes the content relevant not just to the“corporate” folks, but also what every “citizen” of our country wants to know. I personally think that the editors do a good job in translating the content that is relevant for both the audience. I have also observed number of requests to connect through my LinkedIn profile from India has increased immediately after my interview was published. My sincere thanks to the editorial board for showcasing my story. —Sukumaran Mariappan, Director - HR Analytics & Reporting, Trimble Inc., USA
Advocating Patanjalism
Few years back, reading or listening anything about the Baba Ramdev phenomenon, I would think whatever he did was superficial and fuzzy and he was just one more baba on the block. I was surprised to see the yoga guru on the Corporate Citizen cover—here is a guru who did not sell god-for-god-sake but health and who is known for his work in Yoga, Ayurveda, business and politics. Today, Patanjali Ayurveda—which started as a small ayurvedic pharmacy 10 years back in 2006—is a 10,000+ crore revenue company. He is giving big Indian and MNC companies run for their money, in the FMCG sector. As per a recent report, Patanjali is ranked fourth among the top 10 influential brands in India, below Google, Microsoft and Facebook. However, I doubt relying on just Swadeshi for authenticity can deliver economic growth, on a long run. —Sanjay Joshi, IT Professional
Interesting read
I enjoyed reading all the articles in the July 1-15 issue of Corporate Citizen. ‘Aamir Khan Captures China’s Box Office’ provided the interesting figures. Glad to know Aamir is the most followed Indian celebrity in China on weibo. A big clap for the SSC and HSC students, who passed with the flying colours from Shri Sant Nilobarari Vidhyalaya, in Ralegan Siddhi-Anna Hazare’s village. Keep going! —Vinay Gupta, IT Professional
A flair of patriotism
Patriotism is a feeling every Indian has in today’s times, where our soldiers sacrifice so much to keep us safe. It is therefore heartwarming to see a magazine like Corporate Citizen carry a series like ‘Military to Management’, where lives of army officers are explored in detail and we feel connected to them. Carry on the good work. Jai Hind! —Amrut Patwardhan
Wonderful story of ‘Patanjali’s Brand Ambassador’ It was really amazing to know the wonders of well-known Ramdev Baba who has built his business empire to the tune of `5000 crore. He has attracted thousands of patients as well as customers to redress their problems. He has initially obtained his miracle without any fanfare of advertising through the media. He has shown how regular yoga exercises can help us to maintain our health. He has run his business on the basis of his own medical technology. Our MBA students should know his marketing skill and strategy while at the same time understand how scientific exercises during young days may help them to have a long life. You did well in highlighting the exceptionally wonderful story of ‘Patanjali’s Unpaid Brand Ambassador’.
-P C Shejwalkar, Professor Emeritus of Commerce and Management Sciences, S P University of Pune
Helpful in learning and growing
Corporate Citizen is a great magazine! It is the one stop shop to knowing about positive issues in the corporate world. I especially check out the interviews of the top honchos from various organisations. There is so much to learn from them, especially at this stage of my career, where I want to learn and grow in any way I can. —Pureesh Jawa, Team Lead, SA Technologies
Show your money, honey
Marriage-relations were fixed usually amongst known families in ancient times. But with fast modernisation of society equipped with social networking, marriages are now-a-days fixed at times even through chatting without any personal meeting between the couple, forget about any meeting between family-members of two sides. As a result, India is following a western culture where spouses are changed like clothes. Since one of the main reasons in such case is hiding or misrepresentation of income and financial-background from the other side, central
government should consider idea of making it compulsory for exchange of finance-documents of both sides including Income Tax returns. Cases of cheating the bride-side through false presentation of income and is increasing, where such married girls have dark future ahead. This system will also result in checking tax-evasion. —Subhashchandra Agrawal, Social Activist
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Guest Talk / Air Chief Marshal PV Naik http://sainiksamachar.nic.in/
Dr (Col) A Balasubramanian
Air Marshal P V Naik
This article was originally published in Indian Defence Review, a quarterly journal. It is considered “country’s most prestigious defence publication. IDR brings together leading military, government and academic experts who provide the highest quality of well considered, timely and authoritative expert analysis of current national and international events, emerging trends relating to security and defence, historical analysis and strategic forecasting. (www.indiandefencereview.com)
Are the Good Days Coming...?
Not only the government but also the opposition has to fall in line on issues dealing with national interests. The whole country will have to learn to tighten its belt for some tough measures. We citizens will have to exert the national will to overcome the ills of corruption, delayed decisions and lack of governance
N
ational interest is something India needs to learn from America. Regardless of the provocation, national interest must always dictate the actions of the Ministry of External Affairs (MEA). Though the frequency has reduced, we have looked so foolish standing on our high moral horse time and again at the cost of our national interests. Whilst it is true that the internal situation does colour our external relations, at one stage, the MEA had achieved the impossible. We have had poor relations with all our neighbours. This is something we have to correct from the word ‘go’. The euphoria of the epic general elections is over. As per statisticians, at least 33 per cent of the voters are absolutely thrilled at their sagacity. The mood in the country is upbeat despite El Nino and the economic slowdown. Although the average citizen knows in his heart of hearts that things cannot change in a hurry, the mounting inflation and the dismounting subsidies are already causing heartburn. Meanwhile, by all reports, the Prime Minister (PM) and hopefully, his team seem to have buckled down to putting in place a more responsive and hygienic system of governance (not government, mind you). Today, the South Asian Region ranks as one of the three flashpoints in the world along with the Middle East and North Korea. Within this region lies a group of nations in troubled transition to modernity, their external discourse
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damned by internal contradictions. In a world moving towards integration, many of these nations remain torn by ethnic and religious strife, economic disparities and political instability. For obvious reasons, it is full of turmoil. Internal dynamics and external influences have led to increase in the degree of uncertainty. As a member of this region, India remains vulnerable to the disturbances spilling over from her neighbours. India herself is at the crossroads. We witness this giant stirring into wakefulness, into an awareness of its power today. This rise in stature brings with it greater responsibilities and a larger role in regional as well as global affairs. This demands not only a change in policy, internal and external, but a fundamental change in our very thinking, ethos and value system. This then is the challenge before the Modi government that is in an unenviable position of having to balance the vast burden of public aspirations with some hard-headed, tough governance on one hand and boosting the sagging economy on the other. At the same time, convince the world that India cannot to be trifled with. What, then, should the priorities before the Modi government be?
China and Pakistan to relations with neighbouring states and the ‘Look East’ policy. I have merely tried to list a few illustrative priorities. So how does a government deal with such a massive number is the question, I am sure, on everybody’s mind. One way is to qualify them into Essential, Desirable and Routine. Many of them will have to be sounded out against the political sounding board. Some of them will be kept in abeyance as non-productive. Some will have to be dictated by the emerging international scenario. Whatever be the disposal, one common thread runs through the entire process. They all have to be measured against a common time base. Time is of the essence chiefly because this government has taken over the reins at a time when India is at the cusp of its political and economic power. I am fairly sanguine that the PM and his cabinet are more than seized of all the nuances. Their efforts are already visible in Lutyen’s Delhi. Many of these efforts are specifically related to the Defence and Security scenarios.
Priorities: An Overview
One aspect that is conspicuous by its absence is National Strategy. Simply put, where we are and where we wish to be in, let us say, 20 or 40 years time. I am sure someone must have articulated some thoughts, someone must have worked towards a formulation, at least some of our leaders must be familiar with it. How come, then, that almost all our endeavours, be it foreign relations, arms acquisitions, bills/ordinances, internal security or key appointments, smack of ad-hocism? The lack of strategic direction ultimately contributes to a lack of national character and a lack of national will, two maladies we have been afflicted with for decades. National strategy comprises many disciplines. To name a few, defence, security, economy, agriculture, industry, diplomacy and foreign relations. Once national strategy is drafted, debated, modified and enunciated, it defines the broad path to follow, regardless of who is in power. All oth-
The Modi government has been blessed with a massive mandate by the people of India. Public participation and media hype have perhaps been unprecedented in recent history. But therein lies the rub. Now everyone from a chaiwala to a CEO feels that he is a major stakeholder and is demanding the government begins delivering. Let us have a brief glance at the priorities. Top Priority: Some of these are checking corruption, taming inflation, reviving economy, boosting manufacture and agriculture. Power: These include de-nationalisation of the coal sector, corporatisation of railways and establishing a land bank. Defence: Includes increase in budget, streamlining acquisition procedures and boosting indigenous capability. Foreign Policy: This ranges from Indo-US relations to dealing with
Strategic Direction
Display of the nation’s fire power at Republic Day Parade is always impressive but almost all our endeavours including arms acquisitions smack of ad-hocism
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er strategies such as military, economic, industrial will flow from it. The process of formulation must start now. A group of experts from as many fields as practically possible should be tasked to present the first draft in a time bound period. Let it first be debated within the government and then publicly. Media must be taken onboard at a predetermined time. Thereafter, we need to publish a White Paper for the benefit of the world so that others are also privy to our thinking. March 2015 could be the target date.
Effective Implementation
We have laws, rules and regulations for every conceivable contingency; our problem is implementation. Effective implementation involves every citizen but more so, it is dealt with by the bureaucracy and the police. The Police: Generations have been sent into paroxysms of laughter by the antics of policemen and women on celluloid. The public is contemptuous of them. The second emotion they evoke is fear. People consider them depraved, deprived and they are generally despised. This is partly a carryover from the colonial days when they were actively used to further the nefarious designs of British rulers. In the 67 years after independence, their lot has not improved. What can one expect of a policeman who is overworked, underpaid, under-housed, misused and abused by his political masters? The common excuse given is that it is a state subject and the centre can only suggest. If we want effective implementation, we have to immediately and earnestly improve their lot. Some suggestions are: Amend the archaic Police Act, an issue that has been long pending. Improve their pay scales, their living and working conditions, their access to better technology and weapons. Insist on compliance by the states. Recruit to fill deficiencies. Control of the police must be with police officers and not with politicians. This is a sensitive issue and this is where the wheels of progress get stuck. Unless we overcome this resistance, we condemn the police to continued purgatory. The Bureaucracy: The Nehruvian era witnessed the rise of the bureaucracy. This is one single group responsible for the poor governance that
National interest is something India needs to learn from America
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ails the country today. Their rise was aided and abetted by indifferent or ignorant ministers who preferred to let the bureaucrats run ministries. Rampant sycophancy was the direct result and national interest and governance were the victims. The BBC serial “Yes Minister� reflects the Indian milieu so beautifully. Of course, there are some excellent bureaucrats but they are few in number. The problem has always been a lack of accountability. The Ministers were so overly dependent on them that they could not make demands on them or take them to task. It is heartening to note that the PM has made it his first priority and if the media is to be believed, the results are already visible in North and South Blocks.
Internal Security
The dimensions are staggering. At one end is the individual security of citizens, especially women. The other end of the spectrum comprises Naxals, the North East States, Article 370 and outfits such as HUJI and IM. As far as individual security is concerned, policing is the only immediate answer. Naxalism: Let me relate an interesting story. I had made a courtesy call on the then Home Minister. Over a cup of coffee when I asked him if the Naxals were a problem, he gave me a ten-minute talk explaining that there was no Naxal problem and isolated incidents were being cited to exaggerate the issue. He gave me a lot of pamphlets to prove the point. I then went to the Home Secretary’s office and lo and behold! He gave me the same spiel. Be that as it may, Naxals are a problem today born out of socio-economic and socio-political repression. These need to be addressed but this will take its due course. Of short term concern, is the boots on ground, the killings and attacks on policemen and people. The Naxal movement for freedom must be controlled through the following measures: Para Military Forces (PMF) operations under a central planning agency involving all stakeholders. The socio-political/economic balm must be applied simultaneously. Synergy is the order of the day. Improved leadership, training, infrastructure and technology are the prerequisites to such endeavours. If the media is to be believed, some organisations may need restructuring and rejuvenating.
Extensive use of air power in terms of drones, helicopters for recce and support roles. I feel it has to be an ‘out’ to ‘in’ approach with PMF operating out of few, well-protected bases conducting operations and returning to safe homes, first securing easier areas, then venturing onto the more difficult ones. North East States, HUJI and IM: The North East States must be brought into the mainstream. They have contributed significantly to national wealth and have been ignored. Build up of road/rail infrastructure should be a priority. I have clubbed organisations like HUJI to point out a salient difference. Naxals and Nagas are indigenous and rural. Their ire is against indigenous indifference, maltreatment or mis-governance. The ‘jihadi’ organisations on the other hand, project the agenda of external powers with separation from the Union as their prime objective. So while one needs to be resolved by winning the hearts and minds, the other needs ruthless eradication. Jammu and Kashmir: A problem we have faced and fought over for decades and it is not likely to be resolved in the near future. However, it is equally vital for us not to forget that Kashmir is an integral part of our Union. I am of the opinion that Article 370 needs to be done away with. Obviously, it is too early to resolve this problem. However, it must not be forgotten and Article 370 must continue to be discussed openly at regular intervals so that awareness is created about its nuances.
Pics: Ahmed Shiekh
External Security
India’s strategic perspectives are shaped by her history, geography, geo-political realities and the demands of real-politik. Our native culture, our innate traditions of trust and tolerance and our vision of world peace shape our national character which in turn, impacts on our international relations. These vital parameters are as relevant today as they have been earlier. India shares borders with 11 neighbours. Our relations with some are uneasy and with some, hostile. Any unrest within this somewhat hostile neighbourhood spills over into our borders in many forms and with depressing regularity. Unless these geo-political cross currents affecting us are subdued, they would continue to thwart our desire to move forward. Hence, the first priority becomes improving relations with our immediate neighbours. They have been hostage to regional political blackmail in the past. With this massive mandate, the government needs to move forward. The PM has already indicated this by his visits to Bhutan and Nepal. Among the neighbours, Pakistan remains an immediate concern. We do need to continue dialogue on our own terms but not by bending over backwards. I do believe that initiating military to military dialogue will be an out-of-the-box step that is likely to pay dividends. Start at an innocuous level like medical, meteorological, sports exchanges and invitations to seminars and see how it pans out. It is important that our politicos repose complete faith in our military. As a matter of policy, we must insist on Pakistan ceasing support to terrorism before dialogue can progress. China is another major concern; we must engage China but from a position of strength. We have a window of 10 to 15 years in which to strengthen the NE in terms of infrastructure. Our missile reach must be enhanced to achieve the desired deterrence. Naval presence in the Indian Ocean must be more tangible. But this is a long term plan. In the short term, we must engage China in infrastructure and trade. Be patient. The Chinese think in terms of
The Nehruvian era witnessed the rise of the bureaucracy. This is one single group responsible for the poor governance that ails the country today. Their rise was aided and abetted by indifferent or ignorant ministers who preferred to let the bureaucrats run ministries. Rampant sycophancy was the direct result and national interest and governance were the victims
a thousand years. They have long memories. One last input. They set a lot of store by ‘face’. Loss of face cannot be countenanced. This reduces chances of major misadventures. The ‘Look East’ policy had been re-energised during the Manmohan regime. I am confident that the PM will pursue this actively. Japan, Vietnam and Myanmar have a lot to offer us. In fact, presently our national interests also show congruence in the face of Chinese stance on the South China Sea. Australia however, needs to be taken with a pinch of salt in view of her other alliances. Relations with USA, Russia, EU, UK, Israel and the Arab World appear to be on track and part of the long term perspective. National interest is something India needs to learn from America. Regardless of the provocation, national interest must always dictate the actions of the Ministry of External Affairs (MEA). Though the frequency has reduced, we have looked so foolish standing on our high moral horse time and again at the cost of our national interests. Whilst it is true that the internal situation does colour our external relations, at one stage the MEA had achieved the impossible. We have had poor relations with all our neighbours. This is something we have to correct from the word ‘go’. Continued on page 54 August 1-15, 2017 / Corporate Citizen / 7
Contents 26
Cover story
Dynamic Duo 55
Dash of Drive In-depth interview with Sanjay Krishnan, CEO, Lithium Urban Technologies, Bengaluru and Priya Krishnan, CEO, KLAY (Kids, Learning and You) and TLC (The Little Company), on what keeps them rooted to each other and their business dynamics
11 11 COLLYWOOD Chatpata Chatter from the Corporate World 15 CORPORATE TREND New trends shaping the work environment 16 WAX ELOQUENT Who said what and why 8 / Corporate Citizen / August 1-15, 2017
Volume 3 Issue No. 10 August 1-15, 2017 www.corporatecitizen.in
18 THE TAX MAN COMETH Nuts & Bolts of GST 21 FROM MY WALL Salma Shafeeq Ghori, wife of Late Captain Shafeeq Ghori-who did the supreme sacrifice during a military operation in Kashmir, posts her heart tugging story 22 CAREER FEST 2017 Vivek Shrivastava, PwC India’s Executive Director on career opportunities as a Data Scientist
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32 NHRDN LEADERSHIP CONCLAVE Panel discussion on Digital Disruption, at NHRDN Leadership Conclave: Leadership Excellence in Digital World, at HICC, in Hyderabad 38 CORPORATE DEBATE A peek into the world of corporate moms
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40 CRADLE OF LEADERSHIP Dr RP Rustagi, Principal (Officiating), Shri Ram College of Commerce (SRCC) on how the college remains numero uno in all-India rankings year after year 46 CAMPUS PLACEMENT Campus placement experience of differently abled young engineer Sushant Chavan 48 LOVED AND MARRIED TOO Neuroradiologist Dr Yogeshwari Deshmukh and paediatrician Dr Anay Deshmukh on their journey together 50 SURVEY The India vs. BRIC survey by professional services firm EY shows India trailing behind other BRIC countries in e-commerce
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contents
Editor-In-Chief Dr (Col.) A. Balasubramanian Consulting Editor Vinita Deshmukh vinitapune@gmail.com Assistant Editor Prasannakumar Keskar prasanna.keskar@gmail.com
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Senior Business Writer Rajesh Rao rajeshrao.rao@gmail.com
56 PEARLS OF WISDOM US based spiritual leader Nirmala on the inner sense of emptiness
Senior Sub-Editor Neeraj Varty neeraj.varty07@gmail.com Sub-Editor Vineet Kapshikar vineetkapshikar@gmail.com
58 BOLLYWOOD BIZ Corporate Citizen brings to you the beauty pageants winners who are most successful in Bollywood
Writers Delhi Bureau Pradeep Mathur, mathurpradeep1@gmail.com/ Sharmila Chand
60 MOBILE APPS Top five apps that will make the life easy for students abroad 66 LAST WORD NGOs need a corporate touchby Ganesh Natarajan
Bengaluru Bureau Sangeeta Ghosh Dastidar sangeetagd2010@gmail.com
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Pune Bureau Joe Williams / Kalyani Sardesai / Namrata Gulati Sapra Manager Circulation Mansha Viradia +91 9765387072, circulations@corporatecitizen.in West : Jaywant Patil +91 9923202560 North : Hemant Gupta +91 9582210930 South : Asaithambi G +91 9941555389 Creative Direction Sumeet Gupta, www.thepurplestroke.com Graphic Designer Shantanu Relekar
66 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! 10 / Corporate Citizen / August 1-15, 2017
On Cover Page Priya and Sanjay Krishnan Cover Page Pic Sanjay MD Photographer Yusuf Khan Website / Online Subscription www.corporatecitizen.in For Advertising, Marketing & Subscription queries Email: circulations@corporatecitizen.in (Corporate Citizen does not accept responsibility for returning unsolicited manuscripts and photographs. All unsolicited material should be accompanied by self-addressed envelopes and sufficient postage) Tel. (020) 69000677 / 69000672
collywood
People in the news
Railway employees to don Ritu Beri look
Modi blooming as an Israeli flower! We have heard of streets, roads, halls and others named after politicians, but here is something that is blooming. In a special gesture to mark the first visit of an Indian premier to the Jewish nation, a new fast-growing Israeli flower was named after Prime Minister Narendra Modi. The Israeli Chrysanthemum flower has been given the new name “MODI”, according to officials in Israel. “New fast-growing Israeli Chrysanthemum flower named in honour of Prime Minister Narendra Modi and will be called “MODI”. Indeed, a #GrowingPartnership!,” Israel’s official twitter handle said in a tweet. Tweeting on the same, the office of the
Prime Minister, also said, “Chrysanthemum flower will be named in honour of Prime Minister Narendra Modi. The flower will be called MODI”. This was after Modi visited the Danziger ‘Dan’ flower farm along with his Israeli counterpart Benjamin Netanyahu in Mishmar Hashiva where they were briefed about the latest technologies being used for floriculture. The Danziger flower farm is one of Israel’s leading floriculture companies with approximately 80,000 square meters of state-of-the-art greenhouses specialising in the reproduction of plants, founded in 1953. Moshav Mishmar Hashiva is about 56 km from Jerusalem.
Demonetisation still haunts RBI Indians may not want to recall the days of demonetisation, but the Reserve bank of India is still going through it, this time with counting machines to speed up the counting. This was disclosed by RBI Governor Urjit Patel, who told a parliamentary panel recently that the demonetised `500 and `1,000 notes deposited in the banks after November 8 are still being counted and therefore the figure of scrapped notes cannot be given. This was Patel’s second appearance before the panel. After first appearing on January 18, he sought exemptions twice. He was accompanied by RBI Deputy Governors S S Mundra, N S Vishwanathan and B P Kanungo.
Railway employees who have customer-facing roles will be made to look customer friendly. They will sport designer uniforms, complete with fluorescent jackets and black and yellow T-shirts. Come the festive season in October, all employees comprising on-board staff, TTEs, stationmasters, guards, drivers and catering personnel will be in new uniforms designed by fashion designer Ritu Beri. Indian Railway logo embossed on half and full sleeve T-shirts in black and yellow combinations have been designed for the front office staff, while the catering staff deployed in trains will sport T-shirts in white with black border. The black coats of TTEs, guards and drivers will be replaced with two types of half-fluorescent jackets - yellow and green. The technical staff in workshops and production will also have a different look. Railway employees on a few Rajdhani and Shatabdi trains will kick-start the new look as a part of Project Swarn, and later on it would be extended to other services.
August 1-15, 2017 / Corporate Citizen / 11
collywood Chandra replaces Bhat at Tata Global N Chandrasekaran will take charge from Harish Bhat as the Chairman of Tata Global Beverages. Tata Global was one of the Tata Group entities not chaired by Chandrasekaran despite his leading role in the company. With Tata Global under his belt, Chandrasekaran will chair six listed entities of the group, which include Tata Consultancy Services, Indian Hotels, Tata Steel, Tata Motors and Tata Power. It is also expected that Chandrasekaran will soon take over as the Chairman of Tata Chemicals, whose board is chaired by group veteran Bhaskar Bhat. According to Tata Global, Chandrasekaran was inducted as an additional director on the company’s board and elected as Chairman in place of Bhat, who sought to step down. Bhat, however, continues to be a non-executive director with the Kolkata-based company. It was last November that Bhat had replaced Cyrus Mistry as the Chairman of the `6,780-crore Tata Global.
Mithali Raj shatters record, becomes highest run-getter
Women have matched men in many things, especially in the gentleman’s game called cricket. India is proud of its many men cricketers who have made their mark in the world. Women too are not far behind. This time it is the turn of Indian skipper Mithali Raj who rewrote the world record book by becoming the leading run-scorer in women’s One Day International (ODI) cricket. She achieved this feat against Australia in the ICC Women’s World Cup 2017 match at Bristol recently. Before the encounter against the Aussie women, she was 33-runs short of the record of scoring 5992 runs in 191 matches, set by England cricketer Charlotte Edwards. The Chennai-based cricketer not only got past the mark, but also became the first ever woman cricketer to touch the 6,000 ODI runs mark. She has had many feathers in her cap including the feat of scoring seven consecutive fifties in ODIs after she played a terrific knock against England in the World Cup. Mithali has also notched the maximum number of ODI half-centuries (49) by any woman cricketer. The 34-year-old, who made her debut at the age of 16, has often been called the Sachin Tendulkar of Indian women’s cricket. However, being compared to male cricketers is not something the Indian skipper is overly fond of.
Anny, the youngest to fly Boeing 777 She is just 30 and has made the cut, which many would work for life-long and yet not attain. This is Anny Divya, who became the world’s youngest woman commander to fly Boeing 777. Born in Pathankot in Punjab, Captain Anny Divya wanted to become a pilot ever since she was a child. She did her schooling in Vijaywada, Andhra Pradesh. While she wanted to be a pilot, her parents wanted her to become a doctor, and were against her doing the career as a pilot. She was just 19 when she started flying the Boeing 737. Soon after her XII standard, she got into the Indira
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Gandhi Rashtriya Uran Akademi (IGRUA), the flying school in Uttar Pradesh with an education loan for further studies. She completed her training when she was 19, and soon stepped into the cockpit of Air India, which was her first job. She was sent to Spain for training, and on her return had the opportunity of flying Boeing 737. Since then there was no looking back for Anny, as she scaled new heights in flying. Although this profession is still male dominated, the perception that this profession is not for women has already changed to a large extent.
Mining baron’s gesture for children
To boost child welfare, mining baron Anil Agarwal pledged 75% of his wealth for children. The 603rd ranked billionaire of the world and the 63rd richest man in India has pledged 75 per cent of his family wealth for the larger society, with the major portion going to nurturing over 7.5 crore children below the poverty line. The chief of the London-listed Vedanta Resources, an NRI billionaire, Agarwal, has a net worth of USD 2.4 billion according to the July 1, 2017 issue of the US magazine Forbes. “My aim is to give back to society from where we have got it all. I am keen to invest in India’s human resource. We have already started a unique initiative of ‘Nand Ghars’, in which Vedanta is investing `400 crores to create 4,000 ‘Nand Ghars’ pan India,” said Agarwal. The project, in association with the government, aims at strengthening the foundation of children below the age of seven years, their nutrition, health and education. This initiative is aimed at helping underprivileged children living in remote rural areas who are below seven years, with proper nutrition, healthcare and education. Agarwal had announced in 2014 to pledge 75 per cent of his family wealth to society at an event at the London Stock Exchange to mark a decade of his company’s premium listing. ‘Nand Ghars’ have clean toilets, safe drinking water and electricity through solar panels and various education and recreation facilities. Vedanta Ltd is the world’s sixth-largest diversified natural resources powerhouse post Cairn-Vedanta merger, achieving a market capitalisation of USD 14 billion.
Shantanu, Vivek awarded ‘Great Immigrants’ Adobe chief Shantanu Narayen and former US Surgeon-General Vivek Murthy are the two Indian-Americans who, along with 38 immigrants, have been honoured this year for their role in helping advance the country’s society, culture and economy. Narayen and Murthy were honoured with the prestigious ‘Great Immigrants’ annual award on the US Independence Day on July 4. Murthy, 39, born in the UK and a Harvard and Yale alumnus, was appointed by former President Barack Obama in 2014, becoming the first-ever Indian-American to occupy the post and also the youngest ever surgeon general of the country. He was dismissed this year in April by the Trump administration. Narayen, 54, a native of Hyderabad has an undergraduate degree in electronics engineering, a master’s degree in computer science, and an MBA from UC Berkeley. He is a board member of Pfizer and US-India Business Council (USIBC). He was among a select group of CEOs who met Prime Minister Narendra Modi in Washington for a roundtable during the leader’s visit for the first bilateral meeting with President Donald Trump this week. Others include Canadian-origin social entrepreneur Jeff Skoll, who has been awarded the 2017 Carnegie Medal of Philanthropy, PayPal co-founder of Ukrainian origin Max Levchin, Iranian-origin philanthropist and entrepreneur Hushang Ansary.
The award was instituted in 2006 by the Carnegie Corporation of New York to recognise the contribution of naturalised citizens representing more than 30 different countries of origin, a wide range of personal immigration stories, and a high-level of professional leadership in numerous fields. According to Vartan Gregorian, president of Carnegie Corporation, this annual tribute to ‘Great Immigrants’ demonstrates the richness of talent, skills and achievements that immigrants from around the world bring to every sphere of American society. He said their campaign aims to remind US the debt it owes to generations of immigrants who become citizens and contribute to the progress of the country. The Carnegie Corporation of New York was established in 1911 by Scottish immigrant Andrew Carnegie to promote the advancement and diffusion of knowledge and understanding. August 1-15, 2017 / Corporate Citizen / 13
collywood Irom Sharmila to tie the knot
Rajagopalan to lead Heidrick & Struggles
The much talked about Irom Sharmila, the indefatigable fighter against the Armed Forces Special Powers Act (AFSPA) in Manipur, is back in the news, this time for personal reasons. She has decided to tie the knot. She filed an application for marriage with her long-time British friend Desmond Coutinho. Sharmila, who had a disastrous debut in the assembly elections in Manipur this year, filed the application under the Hindu Marriage Act. The Sub Registrar told her that since it is an inter-religious marriage, they have to file the application under the Special Marriages Act. Sharmila, who moved to Kodaikanal, Tamil Nadu has been living with her friend for some months.
Sharmila is popular for her more than 16-yearlong hunger strike demanding the withdrawal of the AFSPA from Manipur. She ended the fast in August last year. Sharmila had launched her fastunto-death on November 4, 2000, demanding the repeal of the Armed Forces (Special Powers) Act, 1958. Coutinho, an NRI originally from Goa, and Sharmila have been in love for a long time. He used to rush to Imphal to be with her whenever she was presented before a local court where she was tried for attempting to commit suicide. On one occasion, he was beaten up by angry women activists on the court campus after he was seen holding Sharmila’s hand inside the courtroom.
Amazon’s Kinjal Choudhary moves to Volvo Eicher
In less than a year since Kinjal Choudhary took over as China Fortune Land Development Company director HR, the former HR head at Amazon India has joined VE Commercial Vehicles, a Volvo Group and Eicher Motors joint venture, as the senior Vice President and Group
CHRO. Choudhary comes with around two decades of experience across sectors starting from FMCG, startups, ITES to e-commerce. He has delved into manufacturing, supply chain, sales and corporate HR functions. He thus brings with him rich exposure and expertise in areas such as compensation and benefits, performance management, organisation design and development, and more. He also has extensive industrial relations experience across regions in India. He is of the opinion that the market for commercial vehicles in our country will grow manifold in the next decade. With the implementation of GST,
14 / Corporate Citizen / August 1-15, 2017
the demand for long-distance hauling and carrying would only increase, he believes. Choudhary has immense knowledge of the markets in India. At Amazon, he spearheaded end-to-end HR operations in India, managing a total employee base of 25,000 and an HR team of 60 across the country. Earlier, he was with PepsiCo, as the Vice PresidentHR, South Market Unit, and climbed up the ladder to be the Director-Compensation and Benefits in 2011, and then went on to be the Senior Director, HR in 2014 before he moved on to Amazon in 2015. The economics graduate and holder of a master’s degree in human resource management from XLRI Jamshedpur, he has also worked with ITC Infotech India, HUL and ITC.
Nasdaq-listed company Heidrick & Struggles, global provider of executive search, leadership consulting and culture shaping services, has named Krishnan Rajagopalan as its President and CEO. This is the second time that an Indian-origin person has been made CEO in the fiercely competitive executive search industry. Rival Egon Zehnder had named Rajeev Vasudeva as its CEO in 2014. Rajagopalan, who has been with Heidrick & Struggles since 2001, succeeds Tracy R Wolstencroft, who now becomes the Chairman of the company. He was previously acting CEO at the firm, and prior to that the head of global executive search practices. For a time, he also led the firm’s leadership consulting practice. A pass out of The Johns Hopkins University, Rajagopalan has been recognised by Businessweek as ‘one of the 100 most influential executive recruiters in the world’. His main armoury has been to tap leading senior-level searches for clients in the management consulting, technology services, outsourcing, and venture capital businesses. Compiled by Joe Williams joe78662@gmail.com
Corporate Trend
Trends reshaping the way we work By Rajesh Rao
With shifting economic conditions, constant fear of layoffs across sectors and job dissatisfaction looming large, it is good time to know how new trends are shaping the work environment and bringing in new work models. In a scenario of business volatility and growing complexity, talent has to adapt to new trends that are impacting the way we work. Rise of freelancers (independent working) Freelancers are no more related to temporary work, they are becoming increasingly experienced, professional in their approach and part of economy. And of course, they are more flexible than on-roll employees. These freelancers are no more an isolated lot, they are part of co-working spaces and online platforms that are helping them secure work. Technology is making freelancers more productive from just about anywhere, no matter where employer or clients are based. Hot-desking Cloud storage of data is redefining how we work, offering the advantage of hot-desking and online collaboration. Work at whatever desk or workstation is available in an office—making companies move towards flexible working practices, where staff are encouraged to hotdesk while in the office or to work from home. It seems the cubical days are over and companies are now pre-
ferring multiple and mobile workers using a decentralised office system over different time periods. Digital nomad is reality What it takes to work and travel? Technology and connectivity. Digital nomad is one, who has skills to work online and is able to live and work anywhere in the world. It is a lifestyle where you mix work with leisure of travelling. If you have the skills in demand and you are productive, a digital nomad has the freedom and earns enough income to live and travel anywhere they want. You can be an entrepreneur moving your business online or starting your own online business, taking a job that allows you to work remotely, and there are also freelance opportunities to work independently. Virtual office Today it is possible to set-up a virtual work space-with technology changing we have a choice of how, when and where we work. With better connectivity of technological tools like mobilephones and laptops and access to internet-on-go, one can be productive anywhere. More and more businesses are preferring workforce that are used to working digitally and shrinking the conventional office spaces to bare minimum. Don’t be surprised, very soon we will have companies operating solely in cyberspace.
Learn-work-learn-work The skills you learn today have a shelf-life, which points to the growing need of reskilling and continuous education. Today, one cannot find a comfort zone and be a specialist in one job for longer time. You learn and pick up a skill, join a company—soon it is time to move on and learn something new. If you are a smart worker, you will adopt the cycle of learn-work-learn-work, to keep yourself job relevant. Think for a living Knowledge-based economy is a rising trend, where knowledge workers (gold-collar jobs as they are called) are in demand for skills in reasoning, problem solving, language proficiency, cognitive skills and domain knowledge. With increase in usage of data in this knowledge age, it is predicted that more of the working population will be knowledge workers who mentally attend to and process information, than working in industry. Today, the world is a global knowledge society with knowledge as its key resource and with internet it can be exchanged effortlessly and acquired easily. rajeshrao.rao@gmail.com August 1-15, 2017 / Corporate Citizen / 15
wax eloquent
Opportunity that India Presents Take a look at what our corporate leaders have to say about recent trends and their experiences in the business world
Automation creates new opportunity
Business of being in business
“It’s not a question of loss or profit. The question is whether the presence of the government is absolutely necessary in a particular sector or not. The government should get out of profit-making companies at the right time so that it gets a good value.”
“Automation takes away certain repetitive roles, but at the same time, it creates new opportunity. So, there are two sides to every change. Look at Uber. Yes, there was a lot of noise about it disrupting the entire vehicle industry, which it did, but look at the number of entrepreneurs it created, the number of jobs it created. It is a part of the cycle.” Rekha Menon, MD, Accenture India Courtesy:http://economictimes.indiatimes.com
Amitabh Kant, CEO, NITI Aayog Courtesy: http://economictimes.
indiatimes.com
Working together to address challenges “I like my job because of the sheer thrill, pace, complexity, variety, decision making and speed. I like meeting employees and understanding what’s working well and what’s not, trying to understand the challenges and working together to address them. I do not like the need for diplomacy as one rises in the organisation and not always being able to spend quality time with my teams.” Rahul Agarwal, MD & CEO, Lenovo India
Courtesy: Financial Express
Success that rests on perception
AI is smart but humans have wisdom
“You are not famous or a star until and unless you are seen to be famous or seen to be a star, by others. This is the principle behind the game-face, or the game-life, donned by all public personalities, politicians included. And thus, there is this silent pressure to seem more famous, younger, richer, happier, and successful than we are.”
“A smart person knows what he/she wants. But a wise person knows what it does not want. The people who catch on the new wave will be rich and more successful. For some people it will be more painful.”
Swara Bhaskar, actor Courtesy: http://www.mid-day.com
Jack Ma, Alibaba Chairman
Satya Nadella, CEO, Microsoft
Courtesy: http://indianexpress.com
16 / Corporate Citizen / August 1-15, 2017
Opportunity to redefine “Instead of sales management, it’s social selling; instead of people administration, it’s employee engagement. It’s about reframing what you want to achieve and having the tools and the infrastructure to help you achieve this new outcome.” Courtesy: http://www.asianage.com
Challenge for marketers
“The exponential increase in the number of media channels, both traditional and digital, has thrown a challenge at marketers. Measurement metrics have moved from reach to impact of reach. Social media monitoring has become an indispensable mode of consumer understanding.” Ali Harris Shere, VP, Marketing, Britannia Industries Courtesy: http://www.afaqs.com
Energy around technology in India
Staying relevant
“You need to be surrounded by people whose opinions you actually listen to. I am accessible, affable, I am amiable and I am available. That is the most important criteria to stay relevant. It is also important to keep your ear to the ground. I am interested in what is happening in my industry.”
India is positioned favourably “The bottom-line is that India is viewed positively at present. Also, compared to some of the other countries in the developing world, India is probably positioned favourably at present with a stable government, macroeconomic position and low inflation. Relatively speaking, all of this stacks up well from an investment standpoint.” Mark A Weinberger, global chairman, EY
“I am particularly excited about the technical challenge as well as the technology opportunity that India presents us. You can just feel the energy around technology in India. The vast technology talent pool is a huge advantage.” John Fowler, executive VP -
Courtesy: http://www.forbesindia.com
systems, Oracle
Courtesy: www.financialexpress.com
Karan Johar, filmmaker Courtesy: http://www.dnaindia.com
Don’t pivot, don’t fail fast “You must do all the thinking about your startup before you start. After you start, you must put in your everything. You can’t work for six weeks and say I want to pivot. Then you are being frivolous about the whole thing. Entrepreneurs must treat startups like their own babies. They must treat it like the best in the world till it’s no longer possible for them to move forward. Take six months to think about it, if necessary. Do your best and fail long.” K Vaitheeswaran, entrepreneur, author and who cofounded India’s first e-commerce company, Fabmart.com
Courtesy: http://timesofindia.indiatimes.com
How high can Indian equity markets go? Land means power to me
“To own land for me signifies that you are the son of the soil. That you belong to the land and it belongs to you…that you have something that nobody can take away from you. Coming from a farmer’s family, land means power to me.” Sunil R Zode, chairman, Conaitre Group Courtesy: Mint
“The Sensex may touch 1,00,000 before 2025, which can be a three times rise in the next eight years. It took 11 years to jump 10 times from 100 to 1,000, 16 years to move another 10 times to 10,000, and so on.” Motilal Oswal,
Chairman & MD, Motilal Oswal Financial Services Courtesy: http://www.thehindubusinessline.com
Competition has been reset “Competition has been reset. A company can either be disrupted or be the disrupter. Customer experience prevails over company products. While user experience remains intangible and challenging to predict, it presents a huge opportunity that organisations can use to their advantage and leave their competition far behind.” Anupam Vasudev, chief marketing officer, Aircel Courtesy: Business Standard
What we need is just professionalism
“Fashion designing is a heritage for us in India. Indian fashion industry need not match up to any industry. We are special. World is inspired by our crafts, fabric, embroidery, heritage. What we need is just ‘Professionalism’.” Pernia Qureshi,
fashion designer-turned-stylistactor-author
Courtesy: http://timesofindia.indiatimes.com
Compiled by Rajesh Rao rajeshrao.rao@gmail.com
August 1-15, 2017 / Corporate Citizen / 17
The Tax Man Cometh
The Nuts & Bolts of GST
by S K Jha
(IRS (retd) and former Chief Commissioner of Income Tax)
The new Goods and Services Tax seeks to do way with a plethora of indirect taxes levied by the centre and states to unify them all into one system across the nation, making way for ‘one country, one market, one tax’. But there are misgivings, mainly stemming from the fear of the unknown. So what is GST, who does it apply to, what are the advantages, and what the grey areas – here is a low-down on what it’s all about...
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
he famous speech, ‘Tryst with Destiny’, delivered by our first Prime Minister Pandit Jawaharlal Nehru at a midnight session of the Constituent Assembly on the eve of independence, marked the birth of our free country. Seventy years later, on June 30, 2017, there was another midnight session in Parliament, this time to announce the birth of a new taxation system-the Goods and Services Tax (GST). Our Prime Minister Narendra Modi said that just as in the case of our political independence in 1947 when the old regime got banished and the princely states got united to join the declaration of one nation, India, with the introduction of the GST banishes the old taxation system of indirect and state and central taxes to make way for one tax system, thereby allowing for ‘one country, one market, one tax’ coming into existence. There are variants of GST in 160 countries, most being different shades of VAT, but GST in India is unique because of the mere size of the market it envisages. One market, with 130 crore people with different languages, cultures, racial profiles and different topographies spread over 29 states and seven Union Territories was a gigantic task, but we have now achieved it. The biggest common market earlier was of the European Union (EU) which catered to the collective population of 51 crores, including the six crore population of UK which is now set to go out after Brexit. Our GST is also unique as it is only the second dual system of goods and services after Canada. It is also unique as we have a strong federal structure where 29 states 18 / Corporate Citizen / August 1-15, 2017
and Union Territories are ruled by different political parties with wide divergence, but all of them came forward unanimously to exhibit a co-operative federalism for formulating the GST. It had also necessitated the passing of the 122nd amendment of the Constitution which was passed unanimously by both the Houses of the Parliament.
What is GST?
It is a reform of big magnitude in our indirect tax system which affects everybody from super
rich billionaires to our real poor. The Constitution has provided lists of subjects on which the Central Government and State Governments frame laws and collect taxes. Direct taxes like Income Tax and Corporate Tax are strictly the prerogative of the Central Government while indirect tax was compartmentalised under two parts belonging to the central and state governments. The Central Government part related to taxes like Central Excise, Customs Duty and Service Tax, while the State Sovernment part related to taxes like VAT, Entertainment Taxes,
“For the majority of items, prices will go down, as there is no cascading effect of tax on tax. In the supply chain of goods or services, there is a provision for giving credit to input tax and issue of refund. Even with goods falling in the highest tax rate of 28%, the selling price will be less, as the actual incidence of the effect will be 28% minus refund of input tax”
etc. The GST subsumes 17 different taxes of the Central and State Governments except Custom Duty, and brings in place one tax, the GST. This system (GST) also does away with municipal octroi and various types of cess levied on goods and services. Thus, for the entire country, irrespective of state borders, there will be only one tax. At the moment, GST will be levied at four rates of 5%, 12%, 18% and 28%, in addition to a sizable number of goods and services that stand at 0% rate, or are exempted. Some products like petroleum and alcoholic products have so far have been kept out of GST so as to bring about the unanimous consent of the states. GST is a destination tax which is levied at the stage of the final buying of the product by the consumer, hence during the supply chain of the product, the input tax is given credit. We can say that the tax becomes leviable on the value added at each stage. The procedural compliance and collection of tax under GST will be managed 100% online by a newly created entity GSTN which is owned by the Central Government (24.5%), State Governments (24.5%) and financial institutions (51%).
Segments of GST
GST is one tax, but to facilitate the collection of this tax it has been divided into the following: A. Central Goods and Services Tax (CGST) B. State Goods and Services Tax (SGTS) C. Integrated Goods and Services Tax (IGST) D. Union Territory Goods and Services Tax (UTGST) When the sale is within one state then GST and SGST come into play. The trader will pay tax as per the notified rate of the product or services only, but he will divide the payable tax in two parts of 50% each and each 50% part will be paid separately into the CGST and SGST accounts. This will help reaching the tax into the kitty of the Central and State Governments directly without any human interference. In the case of interstate sale of goods, IGST will be levied at the rate same as the rate of that product, but traders will get the full set-off from the liability of CGST and SGST when he sells the product in the new state where his product has entered. In totality, IGST is wash out tax which does not survive and there is no income under this head. IGST falls in the domain of the Central Government and it has been created for the sole reason of keeping a forensic trail of the
movement of goods. On imports, there is no GST. However, in addition to Customs Duty, which is separately levied to identify the footprint of imported goods, IGST is levied which gets set off when the goods are sold. There is no difference between SGST and UTGST except that one is levied in the state while the other is levied in the Union Territory and both are levied and collected in a similar manner.
Who Does It Apply To...
• To every person who supplies goods and /or services of value exceeding `20 lakhs in a financial year (the limit is `10 lakhs in special category states). Registration is compulsory and GST must be paid when the threshold limit gets exceeded • To any person making interstate taxable supply of goods and services • To every e-commerce operator • Every person who supplies goods and /or services other than branded services, through an e-commerce operator • Aggregators who supply service under their own brand name • Casual taxable person • Non resident taxable person • Person required to deduct TDS/TCS • Input service distributor • Person supplying on-line information and data access or retrieved services from a place outside India to a person in India other than a registered taxable person • Person required to pay tax under Reverse Charge • Person supplying the goods on behalf of other taxable persons (e.g. Agent) • GST does not apply to agriculturists • GST does not apply to any person engaged exclusively in the business of supplying goods and or services that are not liable to tax or are wholly exempt
What Is The GST Framework?...
• Two forms broadly-at the intrastate level and interstate level • Intrastate level (goods within the state)CGST and SGST • Interstate level- goods from one state to another) IGST • Imports-IGST • Export-Zero rated • Supplies to SEZ will be zero rated
What Are the Advantages of GST…
• For the majority of items, prices will go down as there is no cascading effect of tax on tax. In the supply chain of goods or services, there is a provision for giving credit to input tax and issue of refund. Even with goods falling in the highest tax rate of 28%, the selling August 1-15, 2017 / Corporate Citizen / 19
The Tax Man Cometh price will be less, as the actual incidence of the effect will be 28% minus refund of input tax. In the pre-GST era, the only visible tax used to be VAT for consumers, and consumers never got to know the cost inflation due to central excise or other taxes. • One country, one tax will lead to ease of doing business and thus may attract more investment both domestic and foreign • Transparency in the tax system • Transparency in the business module as the chain of transactions from the origin of the product to its final destination will be online • End of inspector raj and end of harassment and corruption • Widening of the tax base both in indirect tax and consequent direct tax • Simplification in compliance, as instead of 17 taxes now there will be only one tax and its compliance required through the on-line process and mainly through autopopulated data • Advantage of less tax up to a turnover of `75 lakhs with no protocol of procedures except the figure of total monthly sale • Eradication of tax evasion to a substantial level as there is incentive for payment and advantage in being a part of the chain of transactions. Major buyers will not buy your products if you are not registered • Business will become more competitive and open. Domestically manufactured products will have better business as imports will attract IGST. Good for Make-In-India • Our products will be able to do better in the overseas markets, as cost of exports will fall
Nervousness Coupled With Excitement…
People are excited for good theoretical economic reasons, but traders and even some consumers are also nervous for the following reasons: • Fear of the unknown • The tax compliance and collection system is through computers and the internet, whereas many of our small and even middle group traders are not computer savvy. Many do not even own a computer • Fear of blocking their working capital as a firm will need to pay tax in the form of IGST when they are shifting their goods to their warehouses located in other states till the time the goods are sold. Firms selling seasonal products like ACs or heaters where production happens throughout the year but sales peak only for a few months will see blockage of their funds for a longer period • A buyer’s money will remain blocked if the seller does not pay the tax on time. So postGST, a firm has to worry not only about his own business but also ensure that his business partners pay tax and file returns on time. 20 / Corporate Citizen / August 1-15, 2017
Firms buying from a large number of suppliers are nervous on this count • An exporter’s money would be blocked because of the gap between payment of GST and its refund after the export made. Exporters presently do not pay taxes on their inputs • Fear of teething problems and litigation as there are several tax rates
Administration of GST…
• The Centre and State have mutually agreed that 90% of all assessees with a turnover of `1.5 crores or less will be assessed for scrutiny and audit by the state authorities, the remaining 10% by the centre. Above that limit, the centre and states will assess in a 50:50 ratio. Each assessee will be assessed only by one authority. The computer will be programmed in such a way that there is no discretion in the selection of the assessees • The Apex body in the GST administration will be the GST Council, which will be constituted as under: Finance Minister of India-Chairman Union Minister of State, Revenue or Finance-Member Minister in charge of Finance or taxation of the state or any nominated Minister-Member • Decisions at the GST Council are made by a three-fourth majority vote cast. The centre has one-third of the votes cast and the states together have two-third of the votes. Each state has one vote irrespective of the population size of the state • The GST council was created in September 2016, under Article 279-A of the Constitution of India and it is empowered to enact laws and rules to determine the GST rate and decide on the exempt categories • A dispute settlement mechanism has been set up under the GST. The Central Board of Excise and Customs (CBEC) can issue advisory circulars for clarifying doubts. There will also be a GST Dispute Settlement Authority in ad-
dition to the online Dispute Resolution and Judicial Dispute Resolution System
Concluding Observation
There is no dispute that GST is good for the economy and the country. Initially, there can be some teething problems and that may continue for a maximum of three to six months. The problem can be sorted out by the concerned authorities. There is a need to educate taxpayers and consumers about the new legislation. The government has opened GST Sewa Kendras to help people. Fear of the unknown will go away once people understand the law. The government is confident that in view of the competitive market, traders and manufacturers will pass on the benefit of reduction of price to consumers though there is a strict and harsh provision of anti-profiteering. People will appreciate the new law once they find that corruption and tax evasion is going down. I sum up in the words of our Prime Minister that GST means ‘Good And Simple Tax’.
CC
tadka
Need to upscale India’s higher education system
India’s higher education is slow in responding to changing social demands and needs says IBM study ‘Upskilling India-building India’s talent base’. A total of 59% said the system has difficulty maintaining relevant curriculum; 56% pointed out the system’s inability to provide cheaper access to education; 54% see a lack of interaction between industry and academia; and 52% sees insufficient teaching resources.
From My Wall
Salma Shafeeq Ghori
He will always be mine
I
A heart tugging post on Facebook of an Army Officer’s wife who lost her brave husband to a military operation in Kashmir but carries on her life spiritedly By Salma Shafeeq Ghori
was 19, when I got married to Captain Shafeeq Ghori in 1991. It was difficult in the beginning to accept the fact that he was constantly on the move and had to leave me alone for long periods, but he sat me down and explained what it was like to be an Army wife. There were no mobile phones back then. I used to spend hours by the phone unsure when he would call. We used to write letters and my husband made sure I received one letter every day for the days he was away from me. I used to write small notes and hide small surprises in his luggage. In the years that followed, he had many high-risk postings. Back then, Punjab and the East were all dangerous places to be. He has been to Tripura, Punjab, and Srinagar. He used to be gone for days but by then I had become strong and learnt to fend for myself and our children. I knew he loved the country the most and his kids and wife came a close second. In 1999, he had a field posting in Srinagar, since it was a high-risk area where families weren't allowed, I moved to Bengaluru. June 28th 2001, we spoke for the last time. He asked about our well-being, told that he was in the jungles for a military operation. He wanted to speak to the kids but they were running around with their cousins and there was a lot of chaos and noise. I told him to come back to his base and speak to them. I still regret that decision. On July 1st, 2001. Around 6.30 pm, a group of army officers along with
their wives came home. Suddenly, a lady made me sit down and told me. “Major Ghori is no more,” she said. I thought I heard it wrong. It had to be a mistake. She said they had been trying to reach me since morning but couldn’t as I was at my mother’s house and the phone lines were disconnected. Major Shafeeq Ghori was martyred in a heroic gun battle with militants during 'Operation Rakshak'. Everything around me fell, crumbled. That day was the day I received my final letter from him. The next day, I went to the airport to receive him for the last time. This time in a box clad in Indian Flag. I broke down. He would always ask me to be strong. He reminded me even on that last day we spoke, but I never imagined a day when he wouldn’t be around. I got his uniform and civil clothes in a box. I did not wash them for eight years because I did not want to let that feeling go. His money is still in his wallet. The letters are still a part of my reading. I have played the role of a father and mother but there were times when I used to fight back a tear seeing other kids play with their parents. Today, I work for the welfare of the army martyr families and women empowerment of the martyr widows in Karnataka. I was 29 when Major Shafeeq Ghori was martyred. People told me to move on.. but he was, is, and will always be mine Forever. Courtesy - https://www.facebook.com/beingyou17/ posts/426353341097295:0 August 1-15, 2017 / Corporate Citizen / 21
NHRDN Career Fest 2017
The Future of Jobs:
Careers in Data Science
Economic transformation and employability is a key factor towards making India’s demographic dividend, the young workforce, a significant competitive advantage. In this context, the National HRD Network (NHRDN) Mumbai Chapter, recently organised a Career Fest at Nehru Centre in Mumbai. The aim was to provide a common platform to bring together industry, academia and student community, with the intention of helping students to make informed career choices. Having a rich experience in Data Science, Vivek Shrivastava, Executive Director in Data, PwC India, spoke on career opportunities as a Data Scientist. Vivek has over 20 years of consulting experience in the field of Analytics, Big Data, Data Science, Business Intelligence (BI), Information Management (IM) and Extensive Performance Management (EPM). Vivek is currently responsible for defining the product/solution strategy, go to market initiatives and incubating differentiated solutions from an industry domain perspective. Corporate Citizen brings to you the excerpts from the development session, where Vivek shared some pertinent aspects of his profession and took the students through the life of a Data Scientist By Vineet K
22 / Corporate Citizen / August 1-15, 2017
My journey I am a very inquisitive person by nature, if something is happening and I don’t know about it, it is very difficult for me to resist. I completed my graduation in Information Technology (IT), that time IT was not what it is today, 25 years back, people were hesitant to go in IT. I was also hesitant at first and I didn’t wanted to join IT. However, my father said, ‘No, IT is a good field, you should go for it’. He had the vision to see the future a little bit at least. He is an engineer so he said, ‘Go ahead and become an engineer’. Therefore, I took up software engineering. It was a good combination of software, hardware and firmware. After that, I did my master’s from BITS Pilani. I had the option to change the subjects but I didn’t, because I felt that four years of software engineering was not enough. When I started working, I was working on ‘mini frame computers’ you must have read it in your first year of ‘Fundamentals of Computer Science’. I was working on JCL (Job Control Language) and COBOL (Common Business Oriented Language) programming. Very quickly, the Word software came in and later it was completely tak-
Why should you consider data scientist as your career choice? Let’s take a look upon life of a data scientist. Who are data scientists? ‘Data scientists are big data wranglers’. This is the shortest definition I can think of. A little bit more descriptive version would be, ‘they take enormous amount of messy data points, structured and unstructured and use their skills in maths, statistics and programming to clean and organise data’. If you are good at maths then you should think of this field. Let’s say you are not good at maths, no worries, if you are good at programming then you should improve your maths significantly. I was above average in maths and that has helped me to stay grounded in the fundamentals of data. That is why I was able to go through such a career, which is so di-
Pics: Yusuf Khan
en over by RDBMS (Relationship Database Management System). After that, client-server related technology came in and 3-tier and web related architecture technologies came in, post this, data warehouses and data sciences, all of these things came into picture.
verse across different kinds of technologies; I was grounded on how data works. Even today, whenever I go to meet a client, I am very humble and honest and say that I am still learning and I am still educating myself. That is one area of my interest and I am going to focus on it. Data scientists apply analytical power in depth. From here, it starts getting slightly different. Lot of students present here are from different fields like engineering, insurance, operational research etc. That’s good, this particular field requires you to stay with a certain sector for a long period. Not like a generic engineer where you can keep moving from one project to another. You have to specialise in a sector or in an industry. The reason for this is the problems, which one tries to solve using
“If you are good at maths then you should think of this field. Let’s say you are not good at maths, no worries, if you are good at programming then you should improve your maths significantly” August 1-15, 2017 / Corporate Citizen / 23
NHRDN Career Fest 2017 data, which are deep rooted in a sector or an industry. Problems are not occurring because there is so much of data, a lot of people say there is so much of data, how can we handle this? That is not the case, there are businesses happening, there are processes being followed, those processes have exceptions, and these exceptions have many things happening to them, which all the ERPs (Enterprise Resource Planning) of the world are doing. They are generating these exceptions and that’s what is causing these problems. Every industry in this world has problems and 80% of those problems can be solved using data science. Why to spend so much time on industry knowledge? Whatever you will do as a data scientist, you will do in a context. As I said earlier, you won’t be doing generic programming, there is a context which is related and linked to the industry. What you are trying to do is, you are trying to uncover hidden solutions to business challenges. There is a very well defined business challenge. I am a practitioner, I have been a hardcore data focused person for the last 12 years largely doing management related work and huge teams are working for me doing the actual technical work. My role If you define my role it is very simple-I spend time understanding client’s problems and helping them recognise that they have these problems. In my 23-24 years of career, I feel my biggest achievement is that I can explain very complex problems in very simple words. That’s the only achievement I have. Rest all, my team does. The reason I am telling you about this is, this is not something that you can get into when you are out of college. This is something which you have to curate in yourself as you progress through your career, you have to be conscious; you have to take efforts to understand what your course does not teach you and learn it yourself by enrolling for courses. For example, if people are being trained on banking and insurance and they want to become data scientists today, they have to fill in their skill gaps in maths and statistics and apart from that, they have to have a keen interest to be a data scientist. If I am working in an insurance firm and I have a list proficiency of modelling to be done–how does the insurance industry derive pricing based on the file of the customer? That’s nothing to do with technology, it has to do with the business itself. You have to go and sit with an actuary; you have to invest that time. Your job function may not require you to do that. This is something if someone would have guided me at the beginning at my career, it would have an easier life for me. It was very difficult for me to do this, because I was coming from a technical background. It was only for my interest and inquisitive nature I am doing these things. I have also dabbled with various in24 / Corporate Citizen / August 1-15, 2017
“Today, I have a choice; I can filter THE NEWS THE way I want. Tremendous amount of data is processed to do anything like this. Sophisticated analytical program, machine learning Statistical model, all of these things are important for you to become an expert”
dustry areas, I cannot say better or worse because when large part of my career in data science was not something in the forefront. There were other technologies. But if I started my career now, I will focus on one or two related industries and make myself an expert at it so that I can solve almost all the problems in that industry using data science. But that’s the mindset with which you have to be ready to come in the industry to attract employers like us. I ask these questions in interviews, last year I did 142 interviews, over a course of three months for the post of data scientists and I got only one data scientist, that candidate also left. The main reason why we rejected so many candidates is that they were not focused. At this age, if you are not focused, then it is not going to workout well. You should be clear about you goals. The candidate, which we selected came in with 10 years of experience and said, ‘I am also interested in analytics and I am currently pursuing my
degree in chemical engineering’. He is a human; he is not a robot to do multiple things at a time in-depth. Another reason I could think of rejecting so many candidates was, the candidate said, ‘I will do the glamorous part of creating a model and do the maths but I will not touch the data. I need three analysts who are going to clean the data for me’. Suppose I give him the team, he will not be able to explain what he wants. If you need more people, it is okay, no one will tell you to do all the work by yourself. There are deep problems in the industry. If anyone, who has a little bit of exposure on data warehousing and data technologies would know that all the core of all this is Data Modelling. Data Modelling is an extremely business focused activity. Whatever Data Modelling works in a particular field does not work in any other field. One cannot say that the processes that work in an insurance agency, I will use the same processes in the IT industry. It will not work. They are not designed to work like that.
the solution, they will give me some more time to work on it. Anybody who knows a little about big data will know what I am talking about. In your daily lives, you can see how much data comes your way. Earlier, people used to read newspapers and spend half an hour or so. Today, I have a choice; I can filter the way I want. Tremendous amount of data is processed to do anything like this. Sophisticated analytical program, machine learning statistical model, all of these things are important for you to become an expert. The reason I say to be an expert because this is an expertise field. It is like becoming an astronaut and going on moon-these kind of achievements. Be prepared to give in your 200%. You should be prepared to dig in deep and get the diamonds out of that, as it is said. There is very little predictability in this job. You cannot say that after some time I will build processes around it, put a bot and start working. It will not happen that way. In fact, 88% of the data scientists have a master’s degree and 46% have a PhD. Be prepared to educate yourself, it is a long path, but there is no other way.
“Data scientists are better at statistics as compared to software engineers. On the other hand, they are better at programming as compared to statisticians”
Data scientists in a nutshell Data scientists are better at statistics compared to software engineers. On the other hand, they are better at programming as compared to statisticians. It is very long list to meet. Someone cannot join this field if they are not deep into maths, statistics and are able to code as well.
A day in a life of a data scientist I was very fond of war movies when I was young. The Germans in the World War 2 would send cryptic messages. Like Sherlock Holmes, you would have to first clear the dust and then start to solve the problem. That’s exactly how it is, it would be an one line problem statement based on a sector. It would be very difficult for you to understand. You have to brush many layers of the problem aside. Getting down to the problem statement is an uphill task. You should be able to conduct undirected research and frame open-ended industry questions. For example, if someone had not decided that I would just try to link mobiles with taxis, nothing else, and we know what has come out of it, we would not have seen Uber. This is result of undirected research and open-ended industry questions. There are many questions that are not solved and there are many industries making huge amount of money. I never had a CXO meeting wherein if I go and start solving industry related problems that they have, and if I tell that I have some ideas about it, I am not talking about
What is the education required? I don’t have a specific answer. Along with your graduation degree, I would recommend to enrol for certification courses. Start participating in hackathons and other things. Boot camps will surely help you. It is very amazing if you are able to do that. I feel that this generation is far more ready to leave the old protocols, jump into the new and difficult technologies, and grasp them efficiently. vineetkapshikar@gmail.com
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tadka
Maharaj is back While Air India made its Maharaja go, Indian Railways has brought him back. Yes, the name of Mumbai’s iconic Chhatrapati Shivaji Terminus has recently been changed to Chhatrapati Shivaji Maharaj Terminus, says Central Railway. It did so because in December 2016, Maharashtra Assembly had unanimously adopted a resolution to rename the railway terminus by adding the word ‘Maharaj’ in the original name.
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Cover Story
Dynamic Duo: 55
Priya and Sanjay Krishnan
Dash of drive
While he finds it imperative to promote a corporate ecosystem for green transportation and add dignity to the lives of cab drivers, his better half comes to the aid of working women by offering a safe haven for tiny tots, helping them balance their work-life corporate goals. Meet Sanjay Krishnan, CEO of Bengaluru-based Lithium Urban Technologies Pvt. Ltd, India’s first B2B (business to business) electric cab service company and Priya Krishnan, CEO of KLAY (Kids, Learning and You) and TLC (The Little Company), under the flagship - Founding Years Learning Solutions India Private Limited. Corporate Citizen tagged the two on the spirit that keeps them rooted to their contributions to each other and the dynamics of their respective businesses
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By Sangeeta Ghosh Dastidar
Sanjay Krishnan founded Lithium Urban in January 2014, which attempts to fill in the need for an alternate, sustainable and dynamic corporate mobility solution that not only staves off vehicular pollution but also synchronises the perpetuity of corporate drop and pick routes on a tech-based delivery process platform. In doing so, he has also resurrected and instilled a ‘pride’ factor into the lives of the ubiquitous cab drivers within Lithium. With a background in Electrical and Electronics Engineering, Sanjay Krishnan has worked across diverse companies-the likes of Honeywell, Mosaic Capital Services and Ispat Industries. He has also lent his expertise to managing international businesses spread across four countries by initiating growth in diverse geographies, verticals and product categories. He is a recipient of the National Talent Search Scholarship by the Government of India, the N R Badekar prize, and NASSCOM’s ‘Best Small Company Award’. Priya Krishnan, an alumnus of the London Business School, has traversed careers in consulting, also with IT outsourcer Mphasis, where she headed their European business. She also held leadership positions with Anderson Consulting and Mphasis across Singapore, New York, London and India. She thinks working with adults is over-rated, and that working with young children is an enriching experience. She moved back to India in 2010 from the UK and conceptualised KLAY in July 2011, which functions across 52 schools nationwide, with centres in Dubai and Singapore on the anvil. The two pronged model of these centres is to set up either day care for corporate houses or community preschools, or day care centres close to either the workplace or home. She re-modelled her learning-cum-day care centres to combat societal stigma for working women, be it her customers (corporate working mums) or her caregivers at the centres, and be self-reliant. For her business plan, Priya Krishnan ensures that education, social and learning developments are integral to her centres. Sanjay and Priya Krishnan, while recognising each other’s contributions to their lives together, also pack in individual strengths to power and fuel their own growth stories. Juggling busy and successful businesses and also thriving as a cohesive couple can be daunting enough, but Priya and Sanjay Krishnan have built up an openness and flexibility as the two key factors that help them manage their careers and personal lives. They are also proud parents of Arjun and Aditya, who according to Priya, “Like to do things they genuinely enjoy and also try and make decisions on what they think is good for them re26 / Corporate Citizen / August 1-15, 2017
gardless of their tender age.” For Sanjay Krishnan, “Recognising the contribution that the other person makes is prime; recognition of his/her strengths and weaknesses is equally important. First is to recognise your own weaknesses and then the other person’s strengths. Acknowledge what the other person brings to the table and value that above everything else.”
Nudging roots
Priya and Sanjay both started out as ‘Mumbaikars’ in their individual journeys and had an arranged marriage. “We are both Tamilians. But his parents live in Hyderabad, so they speak Telugu, while my parents speak Tamil. He and I speak in Hindi, so sometimes I wonder what our children are going to learn. They should have one sense of identity. Given that we were both nomadic in our earlier lives, we also have this dire need for them (our boys) to be rooted to something and imbibe a part of the culture,” says Priya. They both believe in recognising the contribution that the other person makes. For a successful marriage, Priya acknowledges, “Given the nature of both our roles in our respective careers, we both have an understanding that at least one of us has to be available to attend calls from the family, and depending on how busy either of us may be, one of us is always ready to pitch in. At the same time, it helps that both our extended families are also on the same page and are able to help us out when the need arises.”
Cherishing lives and business
Sanjay has a very simple ‘mantra’ on cherishing their lives together and as independent individuals, and believes in banking on the strength and confidence that each of them nurtures in their relationship. “At the end of the day, each of us recognises the strength and has the confidence in the other. There is of course more pressure on her than on me. We are very clear on that. She has borne a lot more than I have, and thereby given me the greater ability to go out. I know that if not anybody else in the world, she believes in me and that for me is my dose of strength,” says Sanjay. As for Priya, she cherishes Sanjay more as a friend first. “The fact that I have a friend in Sanjay, more than just a husband, is something I truly cherish. We often take time out after work to go and spend time at cafés and restaurants together, where we simply talk as friends and not about the various other issues that we both may face. Having that support is truly immense.”
Pics: Sanjay MD
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In terms of our businesses, we are completely different, but there is a very fine line between what is considered advice and what is considered overbearing. I think both of us, while we celebrate happiness together, have also got to be careful in terms of only giving advice when it is sought” — Sanjay
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Cover Story Being successful entrepreneurs themselves, they also believe in not influencing each other’s business decisions. “In terms of our businesses, we are completely different but there is a very fine line between what is considered advice and what is considered overbearing. I think each of us, while we celebrate happiness together, we also have got to be careful in terms of only giving advice when it is sought,” says Sanjay. On challenges in balancing individual interests and business pressures, Priya explains that Sanjay has traversed his path as an entrepreneur many times before finally setting up Lithium, so it was perhaps not too daunting for Sanjay. “I am the one who is a corporate rat, I think. When we moved back to India, I was not 100 per cent sure on how this (Lithium) would do; it was a new industry and a new venture. Sanjay transited between employment and business thrice, but we did not hold back.” And as Sanjay says, “It’s a question of who wants to do what. Also, we did not have to hold on to a job to sustain a lifestyle and that has really helped in our transitions and growth.”
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Parenting and all
“I read and we just read all kinds of books. I read a lot more junk, while he reads a little bit more of philosophy. I don’t like reading management books,” says Priya. While Sanjay has a flair for reading multiple books at a time, he concurs, “I don’t like reading management books either but enjoy books on anthropology.” And it is such ‘common’ traits in their duality that perhaps keeps the Krishnans ticking. Priya’s calm exuberance hides the silent ‘victory’ of having empowered innumerable working women in urban zones who would have otherwise succumbed to ‘silent societal pressures’ of either staying at home or being guilt ridden for having placed their tiny tots at the hands of untrained informal domestic help, reluctant relatives or at crèches or standalone care centres. KLAY started in Bengaluru as a provider for toddler, pre-school, and after-care programmes. A part of the model is to locate these centres within corporate premises for working women. In her empathy for Indian moms who battle higher expectations at home and at work, she has attempted in getting mothers to ask for help and for fathers to engage with their kids through workshops, teaching them the basics and especially on how to support their wives in taking care of their children. In doing so, Priya has endeavoured to make ‘caring’ a dignified profession by bringing her customers (working mums) and KLAY care-givers in a symbiotic gesture that enables emancipation for both sets of women.
On being a hands-on parent, Sanjay quips, “Who me? Oh God! It is such a lie.” Priya does not mince her words, “I don’t think parenting is any unique in today’s age and time. Since parenting does not come with a handbook, you stumble along the way and eventually figure out. Given the fact that kids have so much more exposure and they have so many more avenues to keep them distractFrom consulting to ed, just keeping them straight to the nurturing line is very critical. Our boys (aged “I am not a qualified educationist, 12 and 8) are very good children and but I love children,” says Priya. With they are very proud of the fact that a toddler in tow, and as a working we both work.” mother in London, she acknowlAnd as any confident mother, edges the child care system there she adds, “They (Arjun and Adithat enabled her to pursue her goals. Recognising the contribution tya) often talk about us running our It was during her LBS days that she that the other person makes is prime; own individual businesses and so I conceptualised her idea of KLAY. recognition of his/her strengths and anticipate that they will never hold But it was on her return to India in on to mainstream jobs, but rather 2010 that she actually got prompted weaknesses is equally important. First start companies of their own! They to start her own day care and learnis to recognise your own weaknesses are very proud and there were never ing centres. She saw a business opand then the other person’s strengths. situations where they have not come portunity in setting up these centres back to us and asked us why we do and her younger one was one of the Acknowledge what the other person not spend as much time with them brings to the table and value that above first children at KLAY when she and adjust around this fact, despite launched it in 2011. “I saw a lot of everything else” — Sanjay their young ages.” women quitting after they had kids and I thought it was wrong because On parenting tactics, says Priya: they are either doing it because of social norms or for the guilt associated, “One of the things we have learnt is to not protect our kids to the point that or for a lack of options. In cities like Bengaluru, parents are unwilling to they do not experience the world for themselves. As parents, we always try move in and support their sons and daughters (for childcare) as it is very and are available for advice and guidance. However, as parents neither of us expensive here especially for a pair of young software engineers. For them, is in favour of spoon-feeding our boys.” bringing a child into the family, then getting either of their parents and susOn work-life balance, Priya adds, “We both strongly believe that qualtaining them as a household is very difficult. I knew that the Indian market ity is more important than quantity when it comes to spending time with was ripe enough to nurture a new venture in the early child education space, family. Over the weekends, we always ensure that we take time out with as I believed that the Indian parent community needed the kind of support the kids to do something fun and exciting and that is usually something KLAY aspired to offer.” outdoors. We also have a fairly active social circle which keeps us relaxed and charged for our personal and professional commitments.” As for Sanjay, “Our life balance is driven by her (Priya) because it is easy to err on the Breaking stigma side of work which is never ending. I really look to her to drive us on the Priya’s focus while starting off with their first centre at Whitefield, Bengaluru, ‘life’ side because she manages that much better than I do!” was to build a community connect first, and then provide service to those One common hobby they both nurture is their penchant for reading. parents who were returning from abroad or belonged to the expat com28 / Corporate Citizen / August 1-15, 2017
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munity; who according to her were accustomed to the high quality child care system in the west which was largely missing in India. “In the initial stages, we soon realized that our audience was not just the expats/ parents returning to India but also in large measure, the local communities who were seeking premium child care service too.” She and her team found that the biggest test to their early years was finding a personal connect within the local communities to set up centres in Bengaluru. “As we expanded across regions, the challenge was to ensure consistency in quality and standardised operations, so that every child got the same environment at KLAY, regardless of the cities where we provided the facilities. For this, it was also critical to set up an easily replicable training module for teachers and align the leadership team on our collective mission.”
Traditional to professional care
KLAY’s conviction in its professional model meant that child care would now shift hands from grandparents or nannies from the unorganised sectors. “With grandparents, the quality of interaction is outstanding - they have way more patience than parents and will do everything in their capacity to make sure that a child learns and interacts. But the downside is that not all grandparents are around, and a lot of urban parents choose to have one child. So, a child goes through too much of an adult-to-child interaction and for the first six years of its life, this is not at all healthy for the child. Even if there is a grandparent around, the child-to-child interaction is critical, with more peer interaction and socialisation. Otherwise, the child becomes very adult-like or very baby-like. An at-home maid or nanny is definitely not an accountable service and the quality of interaction is very questionable,” says Priya. One of her well-researched strategies was to avoid locating their centres around large BPOs or tech parks, considering the age profile of the working crowd there. “We typically set up KLAY centres where there are IT services and banking companies; where the age profile is that of new mothers or working mothers who have a dire requirement for a service like ours. We have a real estate team that studies the viability of locations. We also cater to companies with global centres.” In fact, they have introduced Hindi as part of the curriculum for their migrant population. “With most kids going to CBSE schools, these working parents want to make sure that their child is able to read and write Hindi.” The full day care programme is built around kids from age six years until they go to Grade 1. But a lot of the children also attend the after-school programme at KLAY. “We have developed our own curriculum. We also cater to post-hours activities like karate and abacus within KLAY, along with Maths and English. We thus take away the ‘soccer mum’ syndrome where mums take kids from one after-school activity to the other. We take away everything that a mum will feel guilty about!” The retail price of `15000/17000 per month for 9 to 11 hours of trained care is seen comparable and more accountable than an untrained domestic nanny. The Company’s Act in 2014 in fact has nudged corporate houses on the need for more women on the board of organisations, and with the Maternity Benefit (Amendment) Bill 2016 (MB Bill) recently passed by the Lok Sabha, a lot of companies are looking more seriously to accommodate more women in the workforce. “A shift is definitely happening, and a lot of companies are looking at this more seriously, and today we work with all of these organisations - Unilever, P&G et.al - and run day care centres for them. They are viewing this clearly as a method to attract women to get back to the workforce. While this need not be the only solution, it serves as part of the solution along with flexible hours and other multiple options. The maternity bill is a huge inflection point for us because there is compliance associated with it and you know that not all companies are looking at it just yet. But data shows that this is a method by which corporate India
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I don’t think parenting is any unique in today’s age and time. Since parenting does not come with a handbook, you stumble along the way and eventually figure out. Given the fact that kids have so much more exposure and they have so many more avenues to keep them distracted, just keeping them straight to the line is very critical. Our boys are very good children and they are very proud of the fact that we both work” — Priya will be able to attract women back into their work space.” Priya explains that they allow a lot of women, who have taken a career break to join them, even at the age of 45 and 50. “Most retail segment of care would want women between 25 and 32 years of age but we want women who are older because chances are that they are much more stable .We also hire women from fairly marginalised backgrounds, rape and acid-attack victims to work with kids. It is an irony that such women are held back by society when a lot of them want to get back to normalcy. So, while we are enabling women to work as customers, we also make a big difference to the women employed with us.” With much ambiguity existing in the structure and workings of the loosely formatted pre-school, day cares, crèche or learning centres, Priya wishes for set stipulations from the government. “If there is a basic qualification stipulated by the government, then the human capital that we rely on can be standardised. The person that interacts and holds these tiny minds can be resurrected to a certain calibre. Getting standard qualified teachers is one of my biggest issues. The need is also to develop a formal framework for day care or preschools that should adhere to sound teacher-to-child ratios.” A McKinsey report says that bringing 68 million women back into India’s workforce will increase the country’s GDP by $700 billion by 2025. And with Indian mothers playing superwomen, enterprises like KLAY might just be a precursor of hope for many mothers and women for a comeback into the workforce. sangeetagd2010@gmail.com August 1-15, 2017 / Corporate Citizen / 29
Cover Story
Battery of Cabs It is the battery that powers everything these days, says Sanjay Krishnan, CEO and co-founder of Lithium Urban Technologies, so there is a bit of Lithium in everybody’s life. Besides being driven by the urge to play straight by the environment by offering sustainable mobility, corporate transportation using electric vehicles also makes plain business sense, argues Krishnan... By Sangeeta Ghosh Dastidar
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“There is a bit of Lithium in everybody’s life”, says Sanjay Krishnan, CEO and co-founder of Lithium Urban Technologies Pvt. Ltd, Bengaluru, India’s first B2B (business to business) electric cab service company. “Maybe ten years back it might have seemed esoteric, but now while it maintains its essence, it is also a very simple thing. Everybody knows that Lithium is a major component of batteries, phones et al, and that battery content is what is powering everything.” What started off with just ten electric cars has grown to some 350+ EVs (electric vehicles) that ply across Bengaluru and more recently NCR (National Capital Region). If each of the EVs clock around 200-300 kilometres per day, it indicates some 1,00,000 kilometres of pollution free and hydrocarbon emission-free transportation each day! With such conviction in battery power, Sanjay Krishnan has unleashed this ‘Lithium’ energy by introducing a pioneering corporate and urban transportation model and is raring to take this technology nationwide, and perhaps beyond. Why did you embark upon another urban mobility concept? Sanjay Krishnan: It is just a realisation that sustainable mobility is a challenge. The world is running out of natural resources and we can all agree that it is finite. But we can also disagree on when it can get over. You might say another 48 or 50 years; some others might say we will finish in the next 20 years. Here the inevitability is not in question, it is only the timeline. So if that be the case, is the concept viable today? What is it that we can do today? Can electricals be used today? That is how we started out on our journey. We proved that our idea is conducive and in certain areas, more viable than others. What was the thought behind utilising EVs in your transportation model? In the retail segment, the usage of EVs has been there for a long time. One of the aspects is that while it is more expensive to buy an electric car, the cost-effectiveness is higher in the long-run. While it is expensive to buy a Mahindra e2o than to buy say, a diesel or petrol run Tata Indica, Hyundai
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i10 or a Maruti Swift; the cost of operations is lower for the e2o that runs on electricity. The next step was to understand our market-so as to access power, operate in viable locations with good infrastructure and help devise routes and schedules to be drawn up much in advance. We saw that the corporate employee transport requirement fitted this bill. We realised that in cities like Bengaluru, Chennai, Pune, NCR or Hyderabad, almost a million people in each of these cities work in the 24/7 slot and synced it to the thought that the maximum viability of an electric vehicle is derived by running it more kilometres. The strategy behind incorporating Mahindra EVs in your fleet? A typical retail user uses an EV for maybe 20-30 kilometres a day, but commercial usage is almost 200-250 or 300 kilometres per day. So, when you are running that many more kilometres, the viability of buying more expensive car upfront results in low operating costs, which gives a better return on investment. A retail user drives only 30-40 kilometres a day, so, how much cost can one save? But in a commercial fleet, EVs will find greater adoption because one is more interested in controlling the cost.
There is a lot of realisation within the government on electrical mobility powered by renewable energy. There are lots of plans underway at the government level to ensure that it goes from where it is today to say a million vehicles or even 5 million over the next few years”
The price parity for your clients with EVs? We acted upon game changing propositions and tried to remove this whole bean-counting pricing dictum that is linked to mere kilometres and trip counts. We work on unlimited mileage and on productivity. So, our computation of more number of trips and more the kilometres clocked is also based on the back of transportation analytics that we have developed. A corporate house is not charged on the number of trips made but on a monthly cost structure. For gas or diesel cars, the run cost is `5-6 per km; but for an EV it is 75 paise/kilometre. Savings varies from client to client. Typically, it is 10-15% cheaper than the usual diesel/petrol-run services for the simple reason that Lithium cars run on electricity. How did you get stalwarts like Chetan Maini and urban experts like Ashwin Mahesh on-board Lithium Urban Tech.? Chetan was on the other side of the table as CEO of Mahindra Reva and once he exited Mahindra, we spoke to Anand Mahindra and asked if we could get him on to this side of the table. Ashwin Mahesh started the company and is the second partner, and Chetan is the third. Ashwin is one of the foremost urban transportation experts today and one of the few in the world. An Ashoka Fellow, he worked as a climate scientist at NASA and is the driving force behind numerous urban development projects in Bengaluru including traffic management solutions. Ashwin brings to the table his expertise on city governance and other guidance. He is also on the Bengaluru Metropolitan Transport Corporation (BMTC) advisory board. What is your target market? We are not a retail business or B2C like Ola or Uber. We are B2B; we go to each corporate house, sell our services and offer unlimited kilometre deals to interested companies. Today, we have about ten corporate customers and a pipeline of about 400 cars. We own not only our fleet but the EV charging infrastructure too. That sums up our role as a total fleet management service including driver welfare, which is at the centre of our proposition. Post the first fleet run in 2015, we have broken even in April 2016. How has the market matured since 2015 for EVs in the B2B business? There is a big change in the realisation of the benefits of EVs. Also, there is a lot of realisation within the government on electrical mobility powered by renewable energy. There is a huge scope for that in India and there are lots of plans underway at the government level to ensure that it goes from where it is today to say a million vehicles or even 5 million over the next few years.
When we got into the market, there were many apprehensions on Lithium being a new concept and the viability of the business using EVs. A lot of those questions have been addressed, and the market is slowly moving from early adoption to becoming mainstream, EVs being seen as a cheaper option to the existing transportation models or vehicles. The government is also getting mobilised under ‘Niti Aayog’ and is trying to change directions. It can’t happen all at once as it is a policy makeover. It will take time but it will happen. What is your current fleet size? We have a running fleet size of 250-300 cars and a pipeline of 400 cars under Lithium’s ownership and service model and plans are to expand the reach across business and corporate hubs across Delhi, Pune, Mumbai and Chennai. Your future goals and success points? We will be on the course and grow. As for success, we never expected to have gotten this far. We have done it in the way we have and it is not about ‘X’ number of vehicles on the road. In doing so, we also carry everyone along with it-be it our stake holders, suppliers, drivers or employees. By way of brand positioning, Sanjay Krishnan sums up, “Lithium is a manifestation of ethics and honesty. That is the core culture. What Ashwin and I founded in the company will never be compromised. Whether it is driver or employee welfare, we will do things the old fashioned way and never sacrifice ethics for profitability or growth.” sangeetagd2010@gmail.com August 1-15, 2017 / Corporate Citizen / 31
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Digital Disruption
New Paradigm for Human Capital
With digitisation, when new work culture and people aspects are coming—firstly, there is huge data and we should know how to handle it, and we need infrastructure as well as our own capacity to understand digitisation. Secondly, we need to continuously skill and reskill ourselves to adapt to the new digital methodology and practices. How digitisation will be impacting work in respective industries? What are the digital disruptions in HR workspaces and what digital disruption means? These were the questions answered by industry stalwarts, at a panel discussion recently held at Leadership Conclave: Leadership Excellence in Digital World, at HICC, in Hyderabad, organised by NHRDN-Hyderabad chapter. The panellists for the session where Shivshankar Bandopadhyay, Head HR, ITC Badrachalam; Peeyush Arya, Partner, Deloitte Consulting (Panel Moderator); Santanu Bhattacharya, Sr. Director and Delivery Head, EPAM Systems and N Dharmarajan, EVP HR, LnT Construction. Corporate Citizen, brings you the expert talk on trends or areas in which we believe digitisation is going to disrupt, or it is disrupting today, and will be disrupting tomorrow as well By Rajesh Rao
32 / Corporate Citizen / August 1-15, 2017
Digitisation is disrupting today— will be disrupting tomorrow
Peeyush Arya, Partner, Deloitte Consulting (Panel Moderator) What we believe, are the digital disruptions in HR workspaces and what digital disruption means? One thing that stands out, are the kinds of changes or the pace of changes that have happened in 30 years from 60s to the 90s—the pace of change has almost doubled and enough has been spoken about it. But, in the last 17 years, if you look at it from 2000 to 2017, we find that the digitisation in HR has taken pace like wildfire.
Digitisation and HR
Sharing with you some of the statistics on digitisation and HR—just a month back Josh Bersin, the founder of Bersin (known as Bersin by
able to do something to use this data to improve performance. And only 15 per cent have deployed it to actually track performance with managers. So, the 14 billion that is talked about is poised to grow multiple times in the coming years. That’s the kind of opportunity and that’s the kind of impact that we are looking at.
Digitisation changing the way we work
This is again one more data—Americans look at smartphones 8 billion times daily. In the context of India this number would be much bigger. But, the reliance on phones for our data requirements is increasing dayby-day. And 56 per cent of the companies are redesigning their HR programmes to leverage digital and mobile tools for better outcomes. So, all of this points to two facts, one that it is growing and two that there is still a lot remaining to be done. There are areas of digital disruption in HR— areas which digitisation is going to impact work and impact people. So,
The panellists (L-R) Shivshankar Bandopadhyay, Peeyush Arya, Santanu Bhattacharya, and N Dharmarajan
Deloitte), was here and we released the Global Deloitte Human Capital Trends 2017 report. Some of the interesting facts from the report which would be relevant for the discussion today are: the marketplace for HR software and platform is whooping 14 billion dollars today, besides the kinds of investments going into this—in 2015 was 2.4 billion dollars. So, 14 billion revenue and 2.4 billion investment-the pace of increase in investments in companies that are working on HR technology was 60 per cent in 2015, we do not know what it was in 2016. Analytics that we are talking about very widely, that has been applied for recruitment to begin with, has been applied across every function of HR domain today.
HR transformation using digital technologies
Into the opportunity side, in spite of all this being done, when talk to the users they still say we are in the nascent stages of HR transformation using digital technologies. There is lot of data but only 8 per cent of the respondents can make use of it. Only 9 per cent have an understanding of which talent dimensions drive performance, in spite of all the data. At the end of the day HR is supposed to facilitate improvement in performance. But this data is not being used to improve performance or if it is being used only 9 per cent of the organisations and respondents feel they are
digitisation is going to change the way HR is going to be performed—it is changing today. Digitisation is going to change the way work in general is going to be performed. And digitisation is going to change the way in which workforce is going to be working in the organisations.
Impact on work and people
People analytics—there is so much more about people that we know today than what we knew earlier. And if Zomato is having sensors in this room, this may not be a good enough thing for us. Leadership excellence in the digital world, has got huge implications on leaders. But for us to manage it, leaders will need to work very differently—tomorrow versus how we have been working so far. And overall, if we look at the macro environment the whole culture of work in digital workplace is going to transform. So, how it is going to impact work, how it is going to impact people, starting with the data around people, starting with the leaders who are managing the people, and eventually the culture or feeling of working in a workplace that has gone digital—these are the trends or areas in which we believe digitisation is going to disrupt, or it is disrupting today, and will be disrupting tomorrow as well. August 1-15, 2017 / Corporate Citizen / 33
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Digital paradigm is a new idea
Shivshankar Bandopadhyay, Head HR, ITC Badrachalam The new way is digital
I represent ITC, a manufacturing company and I am from manufacturing business. Digital paradigm is a new idea—what is digital manufacturing that also we are trying to understand. What we have understood so far in our business, in our company, is that digital manufacturing is different from what we understood about automation or automation process—may be around one decade back. Different methods came in manufacturing process and now the new way is digital. We are talking about learning it, trying to understand some concepts like Internet of Things (IoT). We don’t know what IoT is, we are trying to understand. We are learning new terms like manufacturing 4.0—how it is going to impact the people aspect, one of the main resources of our business. And how it is different from the other waves. Let’s say, in 1970s the concept called ‘Lean’ came and all the manufacturing houses and institutions got into lean method. In 1990s was outsource—auto components you outsource, or this and that activity you outsource. May be last decade it was automation—we all had highly automated manufacturing processes.
What is the difference?
Now we are understanding that we will generate data and we will try to gather more data from our existing automated processes. And all these processes will interact using this data which is gathered from different devices, like Zomato is capturing here. Cloud—that will give us real time input to all those automated processes, so they can act real time automatically. So, digital influence and digital connectivity to the physical manufacturing world can be done. I am the same human being there, who use to analyse, use to do the Six Sigma project or quality parameters, to read some of the data which those automated machine
screens use to give, in order to take actions. Now, digitally that will be directly connected to the machines.
We are absolutely at the nascent stage
By digitising, when new things and people aspects are coming—firstly, there is huge data and we should know how to handle it. So, we need infrastructure as well as our own capacity to understand it. Secondly, we
Digitisation is going to change the way HR is going to be performed—it is changing today. Digitisation is going to change the way work in general is going to be performed. And digitisation is going to change the way in which workforce is going to be working in the organisations Peeyush Arya, Partner, Deloitte Consulting (Panel Moderator) need to continuously skill and reskill ourselves to adapt these methodology and practices. Thirdly, whether it is going to give benefit in time to come or it is just a marketing buzz—but all the manufacturing companies are trying to get into it for better results. And what we do with the change process, when we adopt the new skill or when we need to handle this manufacturing disruption through digital method. I need a new set of skills and on the other hand, I abandon some set of skills which are present with me now—what I do with these people, what I do with the skills sets, is the biggest challenge that we are trying to understand. We are absolutely at the nascent stage and we are talking with people who have got the better understanding. 34 / Corporate Citizen / August 1-15, 2017
moving their paper based problems of business processes to computer based problems. Now what has happened is that the same people who are in the company or outside the company, they use Facebook-they don’t need to use the Facebook’s user manual. I believe nobody here has gone through Facebook user manual to use Facebook. But, when they get into their own computer in their company, they need to read the user manual, otherwise they don’t know how the software can be used. So, more and more people get dissatisfied with the software they use in their company, when outside, they don’t need to read a lot to use any of the software tools they use. You see a huge change of how software is being built in the industries, based on its service design or usability design— these areas are more important while we are solving the core problems, instead of copying the previous version of solution to the new technology. In digital, I believe this is the right time when we understand the strength of digitisation-like some young mind has come up with a thought like Uber, wherein they are solving the core problems.
By digitising, when new things and people aspects are coming— there is huge data and we should know how to handle it. We need infrastructure as well as our own capacity to understand it. We need to continuously skill and reskill ourselves to adapt to these methodology and practices Shivshankar Bandopadhyay, Head HR, ITC Badrachalam
Digitisation and Digital Disruption Santanu Bhattacharya, Sr. Director and Delivery Head, EPAM Systems Difference between digitisation and digital disruption
One of our core service to enterprises is digital transformation. Today’s topic is digital disruption—the word disruption sounds like a bomb in your head. One of the thing we should talk about is the difference between digitisation and digital disruption. When I joined my first company, I had to fill up lots of forms and papers and ten years down when somebody joined they were still filling up forms. Last two years people are filling forms on computer—that’s digitisation, you digitise the form on to a computer, so somebody need not write on paper. When you digitise you can store and process data later through an automated approach. But, when we talk about digital disruption—as an example I would talk about somebody joining a company today and who has all his information on his Facebook and LinkedIn account, and every where online. The person joining is more surprised that the HR knows more about him than he himself—he had posted a picture year back in Goa and probably the HR knows about that. So, that’s what I would call digital disruption— you join a company and they have lot of information about you, beyond what you wrote in your resume. So, digitisation and digital disruption, we need to understand it in two different ways. Digitisation is going on for long period of time, it brought in a wave of important changes. We did not know many people to manage it-there was lot of confusion when computers came for the first time.
Now we are talking about disruption
So, what you do with digital disruption depends on what is emerging and not what technology can do. It’s not what technology can give us, the question should be what we want to do with it. If I am to use Facebook to continuously update where I am—I can also use Facebook for other constructive purpose as well. So, the whole disruption depends on how you want to use digitisation. It is not only HR, it is driving everybody towards disruptive approach.
Understand the strength of digitisation
When I use to build software ten years back, when I would go to a company they would say that this is the approach to be followed and this is the software we need. They were
Digitisation and digital disruption, we need to understand it in two different ways. Digitisation is going on for long period of time, it brought in a wave of important changes. We did not know many people to manage it-there was lot of confusion when computers came for the first time Santanu Bhattacharya, Sr. Director and Delivery Head, EPAM Systems August 1-15, 2017 / Corporate Citizen / 35
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Q&A The term ‘digital culture’ is perhaps an oxymoron, at the same time we expect the HR to drive and create the culture in an organisation. How do you handle the system through HR against digitalisation?
Bandopadhyay: A trained engineer from IIT-Delhi joined us over a year back, doing a very important project for us and coordinating with all across the globe. It was a very important project. While looking for some help from sources, he had divulged some of the important company information, which should not go out on LinkedIn. And the HR manager had to call him, on the matter. So, these are all the challenges. When I joined the company ICI India Ltd, we were taught about the certified standing order, how it is different from the Industrial Employment Standing Order Act 1946, or whether anything is changed. When I am challenging that boy, he is asking me, “Sir, tell me when you have told me that I can’t divulge information? You have given me the project and I have to do it.” So, this is the ambiguity. When I referred the Information Management policy, I had to take my CIO’s help, then also it is not clearly mentioned what you can and you can’t divulge—we had to do something as he is on an important project. We are transforming—this kind of ambiguity—I think the way we will respond, that will build the culture for the next decade. We don’t know, how we are going to do it, but how we are going to respond practically today-this kind of responses will build the culture. May be
how we are going to respond to the digitised culture, how it will develop into future, we really don’t know. We have to react considering the business interest as the first and we have to take a call.
There is business disruption and digitisation happening and underlying concern is job redundancy. To what extent are organisations able to handle this? Bhattacharya: I truly believe that if you give opportunity to people, they will know what is their purpose and they will learn from their experience and activities. People will be motivated.
Is there a danger that seniors will lose the jobs and youngsters will be preferred in this digital world?
Challenge for digitisation is management of the non-change
N Dharmarajan, EVP HR, LnT Construction
Bandopadhyay: The trend is that the top brass who are drawing 6-7 digit salaries have been discussed, the trend has already started. There has been tendency that the youngsters are more knowledgeable than the seniors in organisations.
I would like to talk on the impact of digitisation on construction industry, which I belong to. For construction today, in large projects which are in different places-at any given time we are handling over 300 projects. The way it’s organised—it is in remote location or far away from our main centre and the local person, the project manager who takes the decisions becomes very empowered, because he has to act on the spot and has to take quick decisions. Data is not easily available and therefore it is necessary that there is a degree of empowerment given to them.
Dharmarajan: It is not senior or junior, it is the competency that will count. The world is changing, businesses are changing and have to navigate through the challenging market situation. So, the competencies which are relevant will be paid off and competencies which are not relevant will be abandoned. We have to constantly upgrade ourselves and reskill ourselves, otherwise we will not be able to manage the digital changes. That is why it is disruption, it will change the balance. We all have to navigate through it.
I would look at digitisation in two ways
36 / Corporate Citizen / August 1-15, 2017
The first way, which is happening right now in construction—in construction industry it happens little later than what happens in other industries. If technology changes happen in manufacturing industry, then it is followed by construction industry. So, the first wave is happening in term of the digital tools, which are enabling us to process data faster. Faster availability of data gives better opportunity for accuracy, quality and precision.
The equation has shifted
As an example, we have the telematric sensors and then we have project monitoring done by real time project tracking. In one of our projects, the developer had his team in London tracking construction of a residential project at Worli, in Mumbai. He had cameras all over the place—that kind of monitoring is possible and data was getting generated and any single person sitting in his cabin can know what’s happening everywhere. In our company over a lakh plus people are working across and it’s difficult to track them. So, workman batch codes are coming up now and they have ID worn on their helmets, which will tell us about their presence, how much work they have done, what work they have done—this was not
We need to be able navigate our way in the change that’s happening. I can’t say managing change, because change is happening. What we need is managing non-change, because if you don’t change you will be left behind or forced to shut down. The challenge for digitisation is management of the non-change
very disruptive and the current structure cannot work on this model. The things that are running today on a hierarchical mode may have to change, because things have become flatter. Therefore we have different types of employment, we will have more partnerships. So, how we work with all of them and integrate all of them to get results? This is the challenge which will happen in the disruptive part, which will flatten the structure and we may have to move from a commanding control to a collegial work management.
Managing non-change
possible earlier. Similarly, we have dashboards for safety and quality and inventory is obviously the most digitalised process. All this has created better availability for the top management and I think at this point in time it is probably resulting in disempowerment-it’s very contrary to what others are saying. At the project execution level where project manager was the king, today it is other way round. With the data available to the top end—the equation has shifted—now inputs are getting monitored and controlled. Here the role of HR will be probably to advice and get the leadership to use this digitalisation for facilitation and support for the project execution, rather than for monitoring and control. There is a big culture change that has started. I think we need to re-enable the project teams to doing things themselves.
This collegial system may be happening in the IT companies, startups etc. and is likely to percolate into the construction industry also. This is a change which is likely to happen and now we are visualising that. For example, majority of our workforce are financially well Imagination is a limit, off today, and we therefore are working technology isn’t and the towards that. So, in next stage is there way imagination has going to be possibility of planning in adbeen unleashed in the last vance, I really don’t know. For example, few years, it has never Daimler Chrysler has stated that after happened before. So we do ten years there will be no cars and Dell not know what imagination has predicted that they don’t know how will unleash tomorrow and future is going to be. So, we also don’t if tomorrow is going to be know how the future is going to be—we good for us. need to be able to navigate our way in the change that’s happening. I can’t say Digitisation is going to lead to a change of empowmanaging change, because change is erment and disempowerhappening. What we need is managing ment, both happening at non-change, because if you don’t change the same time. So, there is you will be left behind or forced to shut a very strong cultural shift down. I think, the challenge for digitisaat a micro and macro level tion is management of the non-change.
Challenges happening in disruptive part
Impact of digitalisation
N Dharmarajan, EVP HR, LnT Construction
At the next level, there are other changes which are likely to happen. For example-printing, the whole thing can be done somewhere else and it can be superimposed on the building. Foundation can be done at very high pace with new technology. Things can be done which are very disruptive. Or you take out the building from one place and implant it in some other place, or shift the locations—this will give rise to absolute disruption and everything will be very customised. Individually we need to customise the construction based on the client requirements. This is
Panel speakers with NHRDN-Hyderabad chapter dignitaries at the leadership conclave
Key Points
and impact on people. But, we need to understand and be prepared for it.
One dimension I want to mention is, as we do this automation or as we get As HR professionals, into digitisation, I think technology we need to be enablers of change but in many places also influences our thought process we ourselves may be a and behaviour. I find leadership across road block to those changand even at the junior level, they are es. I wouldn’t say it’s just thinking in digital terms—like yes or not the HR professionals, it no—and the kind of flexibility required might be true for lot of other in human interaction, is where we functions as well. Let’s not need to work with ambiguities, where be harsh on ourselves but we need to learn to work with ambiat the same time I think we guities. I think that competence needs carry a greater responsibilto be strengthened. So, I have seen the ity than any other function, to help this change happen. psychological impact of digitalisation on individual’s thought process. We are facing these rapid changes, but if we are able to cope with this or not-I think HR has a role. But when I saw some of the related surveys, culture was not part of it. It might be correct because we will not be able to look at the longevity of employment of employees or long term careers—what we need to look at is making employment a very satisfactory experience of engagement and building a relationship with talent rather than looking at building a talent pipeline for who will take over twenty years later. Instant gratification may be the order of the day, people want instant results. This is another change, where a person wants instant gratification, while improving his experience of the tenure, working terms of the role, and other engagement issues. rajeshrao.rao@gmail.com August 1-15, 2017 / Corporate Citizen / 37
Corporate Debate
Working M ♥ms ey Dvoe thit ha l l? A
They seem to have it all: the perfect family and a successful career. However, a peek into the world of corporate moms reveals that their journey is far from easy. To get where they are today, they had to (or continue to) be multi taskers, and are left with no option but to manage home, children and office life impeccably. Not to mention the emotional turmoil they find themselves embroiled in every time they have to choose between professional duties and maternal responsibilities. If you’re also one of those who wear the two hats, the polyphony of working mommies in this article will resonate with you... By Namrata Gulati Sapra
New age mommy
The new age working mom is unapologetic and takes pride in being a working mom and surmounting all the challenges that come with it. Meet Dr Priyanka Mokshmar, CMD, Vaayu India, who echoes this exact sentiment. “I have two daughters. Because I am an office-going, workaholic mommy, people pointed fingers at me. They tried to make me feel guilty by telling me that I wasn’t measuring up as a mom. I took that as a challenge. I am glad I did that because today, I am a role model for my daughters. They say they want to be like me. They aspire to venture out of home and work as hard as I do. That sure makes me feel proud.” The mommy from the new era has her own little ways that help her strike a perfect balance between the two roles-one as a mommy and the other as a successful entrepreneur. “My girls take their tuition in the office. That ensures they are under my watchful eye and that they do not feel neglected. While they study, I work. I make up for the time lost over the weekend by encouraging them to take up hobbies and activities that appeal to them.” She says, “Motherhood is a source of joy and beauty and it should never feel burdensome. Nor should it stop you from achieving your goals.”
everything else so that we can make her feel important. We spend time with her and take her out whenever we can too.”
The balancing act
These days, it is quite common to find fathers shouldering additional responsibilities in order to fill in for the mother when she is away at work. “Both my sons have grown up watching me work. Even now, sometimes when I’m unavailable for my kids, their father tries all he can to spend as much time as possible with them at home. Thankfully, he has always had the liberty to work from home. He has literally raised my boys because of that,” remarks Ritu Grover, who works with a university of national renown. Jamuna with son
Jamuna Rangachari with daughter
Work versus children
The ever-haunting guilt
Many mommies suffer moments of guilt pangs, just like corporate trainer Divya Jain. “Leaving my daughter at home when we depart to our respective workplaces is a very testing moment. I feel extremely guilty when we leave her behind, crying. Guilt haunts me when I am working late into the night and I come home too tired to do anything for her. I feel helpless at times like these.” But being the doting mother that she is, Divya makes up for the mother-daughter time lost by spending time with her. “I try and pick up one specific activity with her on a daily basis, such as colouring or storytelling or roti making. This is an important time for us to bond. Whenever we are around, she takes precedence over 38 / Corporate Citizen / August 1-15, 2017
Make-up artist Divya Chauhan is happy too that she has her husband to fall back on when she is dolling up her clients. “My husband has been a great support. I know I can depend on him with my eyes closed. He drops our daughter Mishka to school, picks her up from it in the afternoon, feeds her and in the evening, brings me back home from work.” Nevertheless, she has a packed schedule throughout the day. “I wake up, get my daughter ready for school, cook food and go to work. Once back from work, I go to bed only after finishing all the household chores.” Phew!
Work versus children is an age old debate that corporate moms often find themselves caught in. But at the end of the day, it is all about personal choice-of the mom of course. “If my husband would not have been available to look after my sons at home when I was burning the midnight oil at office, I would have probably quit working,” says Ritu Grover, while Divya Chauhan is of the opinion that work is indispensable to one’s identity. “Sometimes, it gets difficult to do extra work in the evening when I know my daughter is waiting at home for me. Yet I would say that it is worth having both a baby and a job.” Other moms like Shagun Swarup from social media and content strategist, Crosshairs Communication, have worked out ways that allow them to work as well as spend ample time with their children. “I opted for a job that offers a flex-
Dr Priyanka Mokshmar with her kids Divya Jain and Vrishna
ible working arrangement policy. This leaves me with ample time to be around her. In case I am travelling, my husband works from home. We also do not depend on house helps completely and are grateful for supportive grandparents who happily pitch in whenever we need them.”
and understanding of the fact. We are more like friends now! On days she wants me to take leave, I do that happily.”
Making up for time lost...
Working mommies do not mind going out of their way to keep their kids happy. Some of them are even coming up with inventive ways to New mother-child dynamics make the mother-daughter bonding time even These days, kids are smarter and more indemore special. “My workplace has a crèche withpendent. As Jamuna Rangachari, a popular in the premises. Putting her in the crèche helps author of children’s literature puts it, “Just as me stay close to her. Yes, my children understand that faday at office begins as early thers need to attend to their as 8 am, but the smile on her office work, children of this face is worth it! That said, I day and age have come to wake up at 4.30 am just so understand that mothers are I can whip up a meal of her no different in this respect. choice. I ask her the menu Back in the day too, when beforehand and the grocery mothers were not venturing shopping revolves around outside of the home to work, her preferences.” they were busy at household She continues to talk about chores. Children understood the little things they do tothis back then too.” She adds, gether: “When we go back “What is required is priorhome together in the eveitising and making sure all ning, we listen to our favoutheir needs are fulfilled to rite songs and even dance in the maximum extent possithe car at the red light! I love ble. Just like one attends to all watching her imitate me!” the tasks in office and marks Ritu Grover with family Thank God for small favours! some as ‘must do’, parenting Shagun is another mom who is bringing up is always a ‘must do’ activity.” her daughter rather well. “I firmly believe that Sampada Singh, a PR professional and mothparents who spend quality time with their chiler of a five year old girl pitches in, “Working dren help them bloom beautifully as confident moms have smarter kids nowadays since most and happy individuals. As parents, both of us of the time, the little ones are out of home, on manage our time to help our daughter grow up their own, interacting with new people, learning as a better person and attain various skills. We new things.” do this by exposing her to different mentally She says that her own child reflects the same and physically stimulating activities, feeding her qualities. “She supports me in every manner curiosities and giving her a sense of secure and possible. I told her once that she is my strength loved environment.” and if I give up my work for her, people will namratagulati8@gmail.com think otherwise. She was quite receptive to
Things to take note of If you are having a tough time multi tasking as a corporate mommy, these pointers might just help your situation... No place for guilt: Do not feel guilty as a parent or a professional. Together with your husband, you can work out ways to deal with the situation. Have a network of people to rely on: Build a network of people, such as relatives, neighbours or friends who will cover your back when you and your husband are both away at work and your child needs to be looked after. Talk it out: Share your feelings with your child and explain to him or her the importance of working. That way, your child will develop respect for your work. Also, teach your child to be independent and do small things all by himself or herself. Show some love, but without going overboard: Splurging on presents for your kid and wanting to spoil your child on weekends is only natural. But make sure your child does not get habituated to being pampered. Work from home/study break: If you want to work while also being home with your child, you can freelance or pick up a project that requires you to work from home. Or, you can pick up a course that will help your career. Be happy: Last but not the least, have confidence in yourself and your abilities both as a mom and as a professional. August 1-15, 2017 / Corporate Citizen / 39
Cradle of Leadership Pics: Vivek Arora
Dr RP Rustagi Principal, Shri Ram College of Commerce (SRCC)
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For nearly a century, Shri Ram College of Commerce (SRCC)—founded through the far-sighted vision of Lala Shri Ram—has made a name for setting standards in commerce education in the country. Principal Dr RP Rustagi gives full credit of this to the motivating faculty, which goes beyond the prescribed syllabus and encourages students to explore new horizons through critical thinking, thereby helping the college retain its numero uno position in all-India rankings year after year...
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RCC’s first incarnation was in its avatara as the Commercial College, in 1920, in Old Delhi. Even at that time, it was considered a leader offering quality commerce education with strong commitment to India’s freedom movement. A brainchild of Lala Shri Ram, an eminent industrialist and educationist, who was the founder of Delhi Cloth Mills (DCM). The Commercial College was later rechristened as Shri Ram College of Commerce (SRCC) in 1951 to honour his contribution. Ever since, it has made great strides and emerged as a premier, co-educational institution of higher business learning. Consistently retaining its All-India No 1 ranking in Commerce education awarded by the top rating agencies, the college is housed in a grand heritage building decked with arresting red pillars and a clock tower. Having shifted to this beautiful site in 1954, its stunning classic structure has an old world charm that stands out in the midst of the bustling North Campus area of the University of Delhi (DU). Surrounded by many prestigious DU colleges such as Miranda House, Ramjas College, St Stephen’s 40 / Corporate Citizen / August 1-15, 2017
By Pradeep Mathur College and Hindu College, SRCC attracts India’s best and brightest minds and has produced lots of top-class business leaders, brilliant politicians, outstanding Supreme Court judges and film personalities. Corporate Citizen spoke to its Principal (Officiating) Dr RP Rustagi to know what really has gone into the making of India’s best brand for Commerce education. Corporate Citizen : Please encapsulate the history of SRCC, which dates back to preindependence days. Dr Rustagi: Our journey started in 1920 with the establishment of an educational trust, which set up its first school under the name ‘The Commercial School’ in the walled city. Later, it was renamed as the Commercial College, which paved the entry of commerce education in the University of Delhi (DU). The first batch started with only seven students in a school building at Daryaganj in Central Delhi. In 1926, the college got affiliated to the DU and 28 years later, in 1954-55, we shifted to the North Campus in the University area.
What inspired Lala Shri Ram to establish a college for the study of Commerce and Economics only? On the basis of what I’ve read about his vision, I can say, since he belonged to a nationalist business family, he understood the importance of trade and commerce. He possessed an analytical mind and had infinite capacity to work. He knew that once India attained independence, Commerce, Economics and Management education would become even more important as all sectors of a country’s economy are closely linked with its trade and commerce operations. He could foresee that in the fast-changing business world, India’s future generations will need specialised institutions. Thus, he made sure that his College would focus on Commerce and Economics only. Another reason could be, since there were not many exclusive Commerce colleges in the country then, he might have thought, why shouldn’t he build one to fill the gap? Such was his commitment that he even named it as ‘The Commercial College’ because, he knew, sooner or later, Commerce education would find its rightful place in India’s discourse.
‘One day SRCC will be ranked among the best global business schools in the world. We’ve started moving in that direction. We’ve built collaborative partnerships with reputed business schools abroad such as IESEG Business School, Paris and Lille; Sciences-Po, Paris; Utrecht Business School, Netherlands; Hong Kong Business School and University of Warsaw, Poland. There are many international exchange programmes organised from time to time and they help to provide global exposure to our students’
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Cradle of Leadership Wasn’t he too obsessed with Commerce? He was far ahead of his times and knew that for real progress, India will need efficient and trained hands in trade and commerce. Not many could then foresee how important Business Education was going to be in the future. But he was clear and never wavered. I’ve heard from my predecessors that when we shifted from Daryaganj to this campus, in addition to Economics (honours), the University wanted to give us other courses in Arts and Science streams too. However, Lala Shri Ram said, “No thanks! Nothing doing.” He wouldn’t go for anything else. We still follow that tradition and offer specialisation in these fields only. Haven’t you gone for anything new for all these years? We’ve continued with our tradition, but now we want to introduce a specialised PG Management course-tailor-made for SRCC. We’ve applied to the University. We don’t want to borrow a readymade course. So, we’ve designed our own course with its syllabus, curriculum and structure. We have requested the University to allow us to start it. Who runs the legacy of Lala Shri Ram now and how? The college management is run by a Governing Body (GB), which consists of the representatives of the Shri Ram family, the College Trust, the DU and the faculty. Presently, Ajay Shri Ram, great grandson of Lala Shri Ram, is the chairperson of the GB. He regularly visits us and interacts with the students and the faculty. He is open to suggestions and gives full liberty to the staff. The GB has eminent people from politics, media, industry, judiciary, NGOs and from other walks of life. They include Union Finance Minister Arun Jaitley, India TV’s Editor-in-Chief Rajat Sharma, Hero MotoCorp’s Sunil Kant Munjal and Supreme Court’s Justice AK Sikri.
President Dr Pranab Mukherjee is flanked by Finance Minister Dr Arun Jaitley and Sports Minister Vijay Goel, at a function at SRCC, in New Delhi
with reputed business schools abroad such as IESEG Business School, Paris and Lille; SciencesPo, Paris; Utrecht Business School, Netherlands; Hong Kong Business School and University of Warsaw, Poland. Many international exchange programmes are organised and they help us provide global exposure to our students. We also encourage our faculty and students to go global. We’ve told them that if they need any financial assistance for going abroad to present their research paper at an international conference, money is not a problem.
‘What is meant by autonomy? That is not clear. What autonomy will mean to us as teachers is not clear. What autonomy will be given to us? Will it be a financial autonomy only, or will it be academic autonomy too, is not clear. We are more interested in academic autonomy rather than financial autonomy. We should be given a chance to fly on our own. We should be given the liberty to frame our own courses. But all that is not clear’
Any futuristic vision for the institution, beyond Commerce education? Our Chairperson is sure that one day SRCC will be ranked among the best global business schools in the world. We have started moving in that direction. We’ve built collaborative partnerships
42 / Corporate Citizen / August 1-15, 2017
What makes SRCC rated No. 1? Lots of things have gone into it to make it so. The faculty has contributed a lot. The credit goes to our expert and motivating faculty, which goes beyond the curriculum to inspire our students to give their best shot in whatever they do. However, going back in history, nobody was aware of SRCC initially. But since 1950, when we shifted to the new campus, things started changing. The faculty of that time worked hard work-developing curriculum, preparing teaching material and extracting feedback from students for their review mechanisms. They set very high standards. Their hard work paid off as SRCC students started securing top positions in the University results. The textbooks written by our faculty on all core sub-
Venkaiah Naidu, Union Minister for Urban Development, with SRCC students in New Delhi
jects also became very popular. They were taught and referenced by teachers not only in India but even abroad. People say when your intake consists of only the best of the best, real credit for your outstanding output should also go to your students. Our students have contributed a lot in building the SRCC brand. We attract the best of the lot because our admissions are based 100% on merit. We have no other consideration. Merit is the sole criterion. Most top-ranking Commerce students of Std XII across India aspire to come to SRCC. Therefore, we get the best. Once they join the college, we provide them the best of the teaching faculty and leadership opportunities. We focus not just on curriculum and academic excellence but we try to develop leadership also. We believe in a holistic approach for overall development of personality. We encourage students to participate in events like Crossroads, National Colloquium, Eximius and The Shri Ram Economic Summit. Similarly, we invite them to write for our different publications such as Business Analyst, Yamuna, R-evolution, Ceteris Paribus, Renaissance and Artha. How do you do that? When a student joins SRCC, we start with an Orientation Programme. We show a 10-minute audiovisual film to give newcomers an idea of what the campus life is all about and what type of extra-andco-curricular activities we organise round the year. This helps him identify what activities he can participate in and which societies he would like to join. What kind of clubs do you have? We have about 40 societies, which provide a wide choice of extra-curricular activities. In each society, students take the initiative in organising InterCollege and Inter-University cultural festivals and public speaking, music, dance and drama contests. We’ve got societies for academic subjects too such
staff. We also get physical as well as online journals. Just three months ago, we came out with a new research journal titled Strides, which was launched by HRD Minister Prakash Javadekar. It is meant to encourage students to focus on research at the undergraduate level. We also provide mentoring by our senior faculty. Every piece written by students is reviewed by the referees and tested for plagiarism before publication. We also give prizes to the deserving students. Dr Arun Jaitley, Union Minister of Finance, releasing an SRCC journal, in New Delhi
His Excellency Sheikh Nahayan al Mabarak al Nahayan, Minister of Culture & Knowledge Development, and Vijay Goel, Union Minister for Youth Affairs & Sports, along with SRCC students and faculty, at Global Millennium Summit (GMS), in Dubai
as Commerce Society, Economics Society, English Literary Society, Hindi Sahitya Sabha and Fine Arts Society. So, depending on your individual interests, you can join any of the societies and explore your hidden talents. What about sports activities? We have a world class, state-of-the-art multipurpose indoor stadium, which has seating capacity of 1200 spectators. We have courts for badminton, basketball, volleyball, judo, wrestling, etc. Besides, we have rooms for chess and table tennis in the stadium. SRCC is one of the few colleges in DU to have a world-class swimming pool with coaching facilities. Where do you get your funds from? Our funds come mainly from three sources— first from UGC, which is limited no doubt; the fees deposited by students; and our GB, which is very generous in providing funds. Recently we revamped our Wi-Fi system at a substantial cost. The earlier Wi-Fi, installed six-seven years ago, was outdated and when we brought it to the knowledge of our Chairman, he gave us permission to get the latest facility. We’ve also got a high quality audio-visual room. Thus, funds are never a problem for providing the best of facilities. Another recent initiative is to make all financial transactions in our college go cashless. So, in the canteen, stores, offices, library-whenever there is a transaction-it is cashless. People can also pay the fees online. What is so special about B Com (Honours) course, for which the cut-off marks are close to almost 100% every year? Our Economics (Honours) course is equally prestigious, but the B Com (Honours) has earned the enviable reputation of being the best in the country. It is our USP and attracts the best of the minds from all over the country. Besides providing a stimulating environment, we try to give them a thorough understanding of subjects such as busi-
ness organisation, financial accounting, corporate laws, economic theory and business communication. Expert talks, paper presentations and field trips are part of this programme. Many students find good placements with top companies after doing this course from SRCC. Since India is regarded as the entrepreneurial capital of the world, what steps have you taken to inculcate this spirit in your students? We’re the first undergraduate college in India to have set up a centre for startups. We hope to tap the potential of our students and alumni, as well as government initiatives, to give a boost to the innovative spirit further in the years to come. Do you send your students for internships to the industry? Yes, we do. A lot of our students are selected as interns every year and they go for internship to different business houses. We do not have any compulsory internship for all because there is no scope for internship in our academic curriculum and we do not have vacation period required to do internship. So, it’s arranged whenever students say they want to go to a particular organisation. Another highlight of our college is the placement services we provide to the students. What kind of industries do they generally go to? It’s a mix. There's no specific industry. Students go to all places-from financial firms, real estate and corporate banks to different engineering and automobile companies and so on. How research oriented are your students? When they enter SRCC, only a few show such an inclination. But we encourage them to be analytical and research oriented. We provide full research facilities. We’ve several online data records available in our laboratories. If they want to write a research paper, they get a lot of support from our
What do the students do after doing B Com (H) from SRCC? Many go for a chartered accountancy course and some do MBA at some IIM. This year, more than 20 students from SRCC were admitted to IIM Ahmedabad. I am told that over 100 students got calls for interviews from IIMs. I think at least 40 students will get admission in IIMs this year. How big is your college, area wise? It’s not huge, just 17 acres. That’s why we're not able to expand further. We have space limitations. What kind of recreational sports you offer to students? We have a full-fledged indoor stadium constructed during the Commonwealth Games 2010. Many of our students excel in different sports. What is the ratio of boys and girls in your college? How many girls get admission? Over the last few years, the ratio has tilted in the favour of girls. Around 60% to 70% are girls and the rest are boys. As our admissions are based purely on merit, if girls are doing better than boys, we can’t stop them from coming in. We’ve set no limitations. We give admission to all. Whoever gets higher marks will be here. Do you provide hostel facilities for girls? We do have residential facility for girls. But we need more and plans are ready to enlarge this facility to accommodate more girls.
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Goat going gaga Leaving your pet hungry may cost you dearly. A UP farmer Sarvesh Pal of Siluapur village in Talgram area realised this the hard way recently when his goat chewed up currency notes worth `62,000 kept in his trousers’ pocket while he’d gone for a bath. When he came back, his pet had already chewed up 31 notes of `2000 denomination. Only two notes were left but they too were badly damaged.
August 1-15, 2017 / Corporate Citizen / 43
Cradle of Leadership How do you encourage students to invite big shots from the corporate world? We give them lots of opportunities to organise events in the college. Students have to do all the work. That makes them confident because, at the school level, they don’t get such opportunities. Other colleges do the same but we’ve got a definite edge over them because money is not a constraint.
Illustrious Stars of SRCC
SRCC has consistently sent out action-based thought leaders, who have been trailblazers in their respective fields, unafraid to make their voice heard. SRCC alumni have excelled in the fields of corporate governance, bureaucracy, media, law and politics in particular. Many of them hold eminent positions in our national discourse today and have carved a niche for themselves in India and abroad. Some notable alumni include: • Abhijit Bhaduri, Author • Analjit Singh, Chairman, Max India ltd. • Anshu Jain, Investment Banker • Arun Jaitley, Union Finance, Corporate Affairs & Defence Minister • Atul Punj, Chairman of Punj Lloyd • Bhim Sain Bassi Ex-Commissioner of Delhi Police • Bingu wa Mutharika, former President of Malawi • Gulshan Grover, Actor • Jagdish Mukhi, Politician • Jaivardhan Singh, Politician • Jitin Prasada, Politician • Lalit Suri, Hotelier • Manoj Kohli, Executive Chairman, SoftBank Energy • Nimrat Kaur, Actress • Navtej Sarna, Author and Diplomat • Lieutenant General Rajan Bakhshi, Indian Army officer • Rajan Saxena, Vice Chancellor-NMIMS and Padma Shri awardee • Rajat Sharma, Chairman and Editor in Chief of India TV • Rajesh Pratap Singh, Fashion Designer • Rakeysh Omprakash Mehra, filmmaker • Rana Kapoor, Founder, MD & CEO, YES Bank • Rohinton Fali Nariman, Supreme Court Judge • Ruchir Sharma, Head of Global Emerging Markets Equity Team, Morgan Stanley • Sanjeev Sanyal, Economist • Shiv Khera, Motivational Speaker & Author • Surinder Mehta, Founder of Prime Group and Padma Shri awardee • Vijay Goel, Minister of Youth Affairs and Sports • Vijay Jolly, Senior Politician • Vipin Handa, Film Director
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When you invite somebody, you’ve got to pay his airfare, hotel charges and such other logistic arrangements, which costs in lakhs. So, how do students arrange all this? We guide them about the basic event management. They collect money by procuring sponsorships. We tell them how they should approach different companies for sponsorship. For example, we’ve an annual three-day business festival called ‘Business Conclave’, where speakers from various walks of life are invited. It costs around `15-20 lakh. Students manage it successfully. Competitions are held and prizes are given. Students from other institutions are also invited. This is the extra edge of SRCC over other colleges. What basic elements are required for a college specialising in Commerce education? Like any other subject, a college specialising in Commerce and Economics has to be sensitive to the current situation in the economy because commerce is the whole system of an economy that constitutes an environment for business. It includes legal, economic, political, social, cultural and technological systems in any country. Thus, commerce is an environment that affects the business prospects of an economy. It can be explained as a component of business, which includes all activities, functions and institutions involved in transferring goods from producers to consumers. Thus you’ve got to keep these elements in mind if you really want to specialise in Commerce education.
know the latest developments and opinions of the Chartered Accountants and Consultancy firms. The faculty, in turn, took it to the classroom. This is how we do it, and that’s why our students always are better placed than others. What’s unique in the PG Diploma in Global Business Operations that started in 1999? It is tailor-made for us. It’s equivalent to an MBA. No other college in DU has it. We ourselves drafted its curriculum. We’ve our own expert faculty for it and we also invite leaders from various industries, global businesses and consultants, etc. There are practical sessions and industry visits. Market survey is also a part of it, but basic emphasis is on understanding the strategies and intricacies of global business. Placements of students of this course are pretty good. What’s the intake for this course? We take 65 students purely on merit, based on an allIndia written test followed by Group Discussion at two different levels and a personality interview. Is your test comparable to the admission test for IIMs? Our test is as good as the CAT exam for IIMs. However, I wouldn’t like to pretend that our placements are as good as theirs. IIMs have their own standing and get a lot of financial autonomy. We do have financial constraints. Ours is a University course. So, we cannot charge fees as high as that of IIMs. But within the constraints, we’re doing pretty well. We’ve already applied to the University to give our diploma the status of an MBA degree-which is what IIMs offerbecause ours is also a sought-after course where admissions are given strictly on merit.
‘A college specialising in Commerce and Economics has to be sensitive to the current situation in the economy because commerce is the whole system of an economy that constitutes an environment for business’
How do you do that? We have a University-approved curriculum. On the other hand, we also tell them how to analyse the current developments. For instance, what’s happening in the financial markets, how to interpret business news and how to look at economic developments and budgetary allocations. We do this through Speaker Sessions. We invite specialists from business, economics, politics and other fields. These interactions help students get a perspective on the current economic and managerial problems. We organise special faculty development programmes. Last year, we had a programme on Accounting Standards for faculty so that they
How good are student-exchange programmes and international affiliations? B Com (Honours), no doubt, is our flagship programme, but that doesn’t mean that we’re not concentrating on other courses like BA Economics (Honours), M Com and MA (Economics). For Economics (Honours), DU students prefer going either to St Stephen’s College or to SRCC and for several years, toppers are from SRCC. International exchange programme is also our USP. We have separate faculty for international
A basketball match in progress at SRCC indoor stadium
programmes. These are outreach programmes and in-coming programmes. We have tie-ups, where students come from the USA and Netherlands for 15-day programmes. Under the outreach programmes, our students get opportunities to participate in international programmes and interact with students of different cultures. How good are your placements and what are the packages, which are offered to SRCC students? This year, the highest package offered was around `32-33 lakhs, but the average would be around `9-10 lakhs. Many students don’t want to go for campus placements as they’re more interested to go for CA or MBA from IIMs, etc. They’re just not interested in jobs, and hence they don’t apply. There is a perception that SRCC is a very elite college. I don’t think so because we’re very much a part and parcel of DU and follow its rules and regulations in our admissions and examinations. The only difference is the type of intellectually stimulating environment and academic culture of excellence and the faculty that we have—that is something that makes SRCC stand out. Besides, the way we prepare our students for their professional journeys through our societies, cultural cells and other activities is very different from other colleges. It is the quality of students and the faculty, which makes SRCC different from the rest. But we are not elitist. Why do most of your students opt for MBA and then a corporate job rather than going in for research or teaching? Compared to the salary offered by the corporates, the money we get in teaching and research in our country is peanuts. Hence, most students opt for MBA and then take up a corporate job. But there are some, who go for civil services or a teaching job. Like many other faculty members, I too studied at SRCC and joined the college as a faculty in 1976, soon after I did my M Com.
A dazzling dance performance in progress at SRCC Culturtal Fest Inferno, in New Delhi
SRCC has produced several luminaries including Finance Minister Arun Jaitley. Tell us about your alumni and the connect they have with their alma mater? Arunji is a 1973 pass out. Vijay Goel was my classmate. Bollywood actor Gulshan Grover was from the same batch. A sitting Supreme Court justice is also from our batch. A judge in the Supreme Court of Bhutan, Yes Bank Chairman Rana Kapoor and UCO Bank Chairman RK Kakkar are also from our college. India TV founder and Editor-in-Chief Rajat Sharma, film director Rakeysh Omprakash Mehra, politician Jitin Prasad are also our alumni. We have an informal Alumni Association, which organises two functions every year-one in the college premises itself, on the second Sunday of February and other in the first week of January at Hotel Taj Palace on Sardar Patel Road. Those who have excelled in their field are honoured. Many judges, secretaries to the government of India, chairmen/MDs of public sector enterprises or corporate honchos, who have studied in SRCC attend it. They still love the college and want to keep their connections alive. They are willing to help our students. The entire central airconditioning of the college was funded by their contributions. I’m sure, whenever there will be a need, they’ll not disappoint us. Have you considered autonomy for your college? The real issue is what is meant by autonomy? That is not clear. What autonomy will mean to us, as teachers, is not clear. Will autonomy mean only financial autonomy, or it will be academic autonomy too, is not clear. We are interested in academic autonomy rather than financial autonomy. We should be given a chance to fly on our own. We should be given the liberty to frame our own courses. All that is not clear. Unless the UGC or Ministry of HRD makes all these things clear and discusses it with us, we’re not going for it. We have no plans and we have not applied for it.
Tell us about your own academic journey. What brought you to teaching? I’ve always been interested in teaching. It’s my passion. I did my B Com (Honours) from SRCC. Then I completed M Com and started teaching here. I continued my studies by doing M Phil from DU in 1978. I did Company Secretary course in 1985 and then PhD from Gwalior University in 2008. I have been a part and parcel of the corporate life of the college for the last four decades. I’ve written books on Financial Management and Management Accounting. I’ve been active in societies of the college in various capacities. For the last 18 months, I’m working as principal of the college. What advice would like to give to those aspiring to be a part of SRCC? I can’t advise anything other than this: Work really, really hard and get good marks, if you want SRCC to welcome you because we can’t help you if you don’t have the marks. mathurpradeep1@gmail.com
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Indian employers’ confidence dips Indian employers expect steady hiring outlook for the next three months, but their confidence have dipped to the least optimistic level since 2005 amid uncertainties in global markets. The Manpower Group survey indicates that hiring activity is expected to slow for the sixth consecutive quarter. Globally, India was ranked at the seventh place with a net employment outlook of just 14% and employers in India are adopting a wait and-watch policy.
August 1-15, 2017 / Corporate Citizen / 45
Campus Placement
Not disabled, he’s a
He is physically impaired from the hip downwards, but his spirit is indomitable. A topper at SSC and holder of a B Tech from the prestigious College of Engineering Pune, Sushant Chavan got placed at Cybage Software by sheer merit and determination. For, as he believes, disability is not physical, it is all in the mind By Joe Williams
Champion!
Many thought of him as a ‘thorn in the flesh’. But for his parents and sister, it was the other way round as Sushant Kisan Chavan, disabled from the hip downwards, made achievements in academics and corporate world, which even a normal person may find difficult to match. It was not his fault that his was disabled, but many around him labelled him ‘a liability’. Sushant proved them all wrong-emerging as a topper SSC student to start with, and later completing his B Tech (IT) to take up a job that would be a distant dream for many. His doctors say, he is ‘Physical Impairment affected part Bill. L/L PPRP Both LL Disability 87%’, a condition that is permanent and nonprogressive. In layman’s language, this means Sushant cannot move lower part of his body and that though his condition would not worsen, it would not improve either. “Since we were poor, neighbours and relatives considered me as a liability to the family. I took that as a challenge to send out the message that we, the disabled, as we are labelled, are equal to any able person or even better," says Sushant, who now starts his new life with Pune-based software and information technology consulting company Cybage. During campus placement, he got an offer with QuessCorp, the job meant migration to Bengaluru. Since Bengaluru was a new place and there was nobody to take care of him, he and his parents turned down the offer. That did not stop him, as Sushant, the son of a paan commodities supplier, applied for a job in Cybage, and thus started a new chapter in life, in the process proving that nothing is impossible, not even if there are hurdled in the way. “I did get a placement in the college. I got placed with QuessCorp, but the work location was Bangalore, which is far away from my native place and family. Therefore, I let it go. Then I applied for Cybage Software and got selected. Cybage provides training for the
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first three months, so that a fresher gets to know the corporate world. That’s what you need to boost your career,” says Sushant about his new venture. “At Cybage, I applied through email, and they scheduled an interview. First, they took my aptitude test. After clearing that test, I went through two technical interviews, followed by an HR interview. Three days later, I got a mail saying, ‘Congratulations, you are selected for the job’.” Sushant faced hurdles right from the beginning as many schools rejected his application. Finally, Priyadarshani Shikshan Sanstha’s Marathi medium school accepted him. That’s when Sushant vowed to prove that even a child with disability can do than others. And he did just that. Born in Chavanwadi, a small village in Satara district, Maharashtra, Sushant became the first person from this village to complete graduation. His father Kisan Chavan had to shift to Pune for work, and more importantly for his children’s education. Sushant topped the school in the SSC exam with 93% marks and later completed his HSC from Abasaheb Garware Junior College. Then he made it to the premier institution of the College of Engineering Pune (COEP). All through his life, he took challenges in stride and overcame all with determination to set an example to the world. “I faced challenges all through my life, but with the support of my parents and my sister I overcame all of them,” says Sushant, whose parents, like any other, were worried about the future of their only son.
Sushant with his family Sushant with his friends
at ease when it comes to the interview. As a result, I was confident that I was the perfect man for this post when I faced the interviewers. One thing I realised was, honesty is the best policy in an interview.” He attributes the credit of his success to his friends, who helped him all through the hard times. “What I am today is because of my friends and my family. I couldn’t have done what I did had they not supported me time and again. I can't forget what my friends did for me at every step of my life. They helped me a lot. Therefore, all credit goes to them.” Giving due credit to his family, Sushant is quick to add, “My father is the real idol for me. He workes really hard and supports me. He supplies material to paan shops. Every day, he lifts 10-20 kg of supplies on his shoulders and
“To people like me, my only advice would be−do not copy anyone. You are unique in your own way. Stay focused on what you want. Chase your dreams. Don’t think about what the world thinks about you” He commuted over 15 kms every day to attend college (COEP). He faced many hurdles even after reaching there. At times, he had to reach the 4th floor for lectures. “My lectures sometimes would be on the 4th floor, and my friends would virtually lift and carry me to the classroom. I owe a lot to them,” says Sushant, whose pet subject was FOSS (Free And Open Source Software). “Khatavkar Sir was not just my teacher but my buddy as well, as we shared many things,” says Sushant. “I am the only person from my village, who has completed his graduation. But there was some fear in my mind. I would fear that coming from a Marathi school, my English would not be that good. Many people had told me that if you want to get a good job, you must need to be good in English. Therefore, I worked hard on my English, so that I would be
goes to work. My mother is a housewife. She supported me at every stage of life. She even carried me from my bed to the school when I was a child. My sister is my best friend. She had her own studies, (she in the third year degree in E&TC stream of Engineering) but she always encouraged and motivated me. She has been a source of inspiration for me.” All this has enabled him to win laurels, which have brought him the happiest moments of his life. “Life is all about what you think about yourself. Disability is not physical, it’s just a mental thing-it is in your mind. If you remove that from your head, you can be a champion and no one can stop you from achieving anything.” “To people like me, my only advice would be-do not copy anyone. You are unique in your own way. Stay focused on what you want. Chase your dreams. Don't think about what the world
thinks about you. Be honest, and the most important thing, enjoy your life.” He goes on to say, “I can't walk. I can't feel my legs. This condition has been since my birth. But as I said, disability is just in your head and I don't feel that I am disabled. What a so-called fit or healthy person can do, I can do it too, and may be in a better manner. I go to the gym every day. I ride bikes. I am actually crazy about the bike I just boughtthe Avenger 220 cruise. I love to dance. When normal people see me, they think, if he can do all this without legs, why not us! They take inspiration from me, and that motivates me further to do even better. My future dream is to travel all around the world and I hope that too will come true soon. Joe78662@gmail.com
CC
tadka
India has the youngest population profiles in the world India has the youngest population profiles in the world with over 65% of its population below the age of 35. However, India’s demographic dividend is also its biggest challenge—creating enormous employment opportunities and raising employability skills.
August 1-15, 2017 / Corporate Citizen / 47
Loved & Married too
It is not often these days that a college romance fructifies into a 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
A prescription for togetherness Neuroradiologist Dr Yogeshwari Deshmukh (37) and paediatrician Dr Anay Deshmukh (38) complete a decade of marriage this year, not to forget a total of 18 since they first met. The journey may well have had its ups and downs, but one that has been worth it. Seven-year-old Chinmayee completes the picture By Kalyani Sardesai On the face of it, you'd think this would be a match accepted sans complaint: both medical students, pursuing their studies in Mumbai's TN Medical College; both from Latur; and both with the surname “Deshmukh.” Both merit students-she, a state topper in the 10th and 12th (amongst girls) and he, a merit list regular (amongst top 10) in both the 10th and 12th. But then, that's where the similarities ended for their families: She's a Maratha from a well-heeled, political background (her father was Mayor of Latur), while he is a brahmin from a middle class 48 / Corporate Citizen / August 1-15, 2017
home with a bank manager father and a home maker mother. No, said the families, this won't quite work. Turns out they were wrong.
Back to the beginning
It's almost as if they were meant to be. Roll numbers 19 and 20 respectively with the same surname as well. “Naturally, we were thrown together in most academic groups. That's how we started hanging out together,” says Yogeshwari. Apart from a shared determination to do well in a demanding field, there was much to like about
each other. The conversations seemed to flow naturally. A few semesters later, it seemed natural to consider a future together. “Honestly, when you are doing your MBBS, marriage is a distant dream,” smiles Anay. “Nevertheless, I think I wrote the question down on a piece of paper and asked her to marry me. I don't think she replied, but evidently the answer was yes.” Unfortunately, it wasn't this smooth sailing with their parents. The proverbial hell did break loose.
Overcoming opposition
“My father was a politician, a much respected and well-known public figure in Latur. We lived in a joint family-I was the eldest of 18 cousins, and much loved by everyone. So, this-falling in love business-was not something expected of me. Everyone was taken aback, my father most of all,” reminisces Yogeshwari. A similar situation prevailed in Anay's home. “They wondered how on earth a Maratha girl from as privileged a background as hers would fare in our home. How would she adjust? Besides, culturally we were so different,” he says. “In our home for instance, everyone was a graduate or a post graduate. Whereas in her family, she was the first to hold a graduate degree (MBBS) at the time.”
The face-off continued for some time with tension prevailing all over. Finally, Yogeshwari had had enough of seeing her father so unhappy. “I told him alright-I would forget about Anay and marry where I was told.” But that was far from a situation resolved. Tough decision taken, she went into a shell, refusing to speak much. It was her father's turn to come down a few notches. “He told me he couldn't bear to see me in such a state. At the same time, he said that if it were any other daughter of his, she would be married off without further ado to a boy of his choosing. But since it was me, he his most favoured daughter, he could not bear to see me that way,” she narrates. The decision was deferred for some time until she finished her PG entrance to get admission in Radiology in KEM Mumbai. Despite the difficult circumstances, Yogeshwari managed to earn herself a very good rank in entrance exams. “This made my father so very happy. I think that's when he started relenting.” A few meetings with Anay's father and cousin convinced his family too that Anay had chosen well and there was no problem with going ahead. The couple was finally wed in 2007 amidst much celebration, and most importantly, both families' good wishes and blessings.
The building blocks of a marriage
Post-marriage Yogeshwari moved in with her in-laws while Anay went to Indore to pursue his PG. “To their credit, though, despite being so against the marriage initially, they never let me feel that I was not wanted in anyway. I was treated as a daughter,” says Yogeshwari. As things turned out, families gelled together very quickly. “My father in law accepted me with an open heart too,” says Anay. Perhaps, you could call it a warm testimony to the institution of family, perhaps it had much to do with the maturity of the individuals concerned. On her part, Yogeshwari did her bit. “I understood their apprehensions and was prepared to go that extra mile to adjust. Gradually, as they began to realise that I was a simple girl despite my background, they began to relax.” The early years with the in-laws gave her the much-needed time to understand them. “People of that age simply want love and respect. And if you do, they will love you in turn. I chose to live with them,
despite the distance of my hospital, instead of moving into a hostel. That helped us establish our relationship. We communicate naturally and easily. Never has it happened that I have had to say anything through Anay,” she says. Nevertheless, it wasn't an easy time with Anay staying away from home for his PG. “I'd like to mention here that while a doctor's profession is envied for whatever gain and fame it may bring, the flip side is that it is demanding of sacrifice on so many levels: long hours, time away from family and loss of personal space,” he expresses. “But nothing beats the satisfaction of saving a life, or curing someone of pain.” As of today, the Deshmukhs live in Pune with their daughter Chinmayee and their parents. Dr Yogeshwari is a well known Neuroradiologist in Pune and Dr Anay is one of the most renowned paediatricians. Though he loves his field-paediatrics-a far
“We take regular holidays together and invest time and effort in doing little things for each other. It's important to keep that freshness alive. Also, since when we live with elders in the family, there is much-needed support” - Yogeshwari
The Pillars of a marriage Trust Patience and communication. This must extend to each others' families as well Establishing an atmosphere of mutual respect at home. Children are led by example, not words Doing little things for each other and actively working on your relationship from easy option. “I have to spend long hours shuttling between my two clinics, but we have accepted it. However, Sundays are for family and I make sure to give them that time undisturbed.” It's hectic, but since Yogeshwari works 9 am to 4 pm, she's home for their daughter. Parenting is another arena of teamwork for a couple-but this is where a shared value system and Anay's training as a paediatrician comes in handy. “I am clearly the stricter parent,” says Anay. “I do believe that there is no substitute for two things: parental time and instilling the right values. Teach your child to communicate clearly and confidently.” Respect and boundaries are important too, adds Yogeshwari. “It's also important to the teach children to think for themselves and assess whether their actions are right or wrong, instead of shouting at them. It is entirely possible to discipline kids without raising either your hand or your voice. Above all, even if you disagree with your spouse over something regarding the child, it's important to keep a united front in front of the little one.”
So how do they manage quality time together?
“We take regular holidays together and invest time and effort in doing little things for each other. It's important to keep that freshness alive. Also, since when we live with elders in the family, there is much-needed support,” says Yogeshwari. It is crucial to keep the pressures of hospital and clinic away from family. “That's easier said than done, though. It's a challenge,” says Anay, “However, with time and experience you realise the importance of keeping patients' issues away from home. Yogeshwari is especially sensitive, and I am glad that as her chosen specialisation keeps her away from the sad sight of young babies with tubes attached to their little bodies.” At the end of the day, both are clear that trust is the mainstay of each relationship. “When you have that, everything else falls into place. However, I'd like to add that each relationship is a work in progress and demands new things of you every day. You have to keep working and building upon it,” rounds off Yogeshwari. kalyanisardesai@gmail.com August 1-15, 2017 / Corporate Citizen / 49
50 / Corporate Citizen / August 1-15, 2017
Survey India VS BRICs:
The E-commerce Fight E-commerce in India is heating up, and revenue projections are set to go from $30 Billion in 2016 to a whopping $120 Billion in 2020. Despite this, India is still trailing behind other BRIC countries in this regard. Multinational professional services firm, EY has conducted the India VS-BRIC survey to understand the status of Indian E-commerce with the other BRIC countries. Corporate Citizen brings you the results Compiled by Neeraj Varty
B
razil, Russia, India and China together constitute BRIC, the upcoming major economies of the world. India has emerged as a major superpower in the world, but its e-commerce industry is still nascent as compared to other BRIC countries, especially China. Although this survey was compiled a couple of years back, it still presents a realistic picture of the e-commerce scenarios in BRIC countries today. Let us look at some of the key statistics.
Comparison of key numbers: India vs. BRICs Figure 1: BRICs retail e-commerce market and internet user comparison
Retail e-commerce (US$ billion — 2014) Internet user base (2014) Online shoppers
5.2
426.3*
16.3
17.5
243m
649m
108m
84m
35m
361m
33m
30m
* Includes sales through customer to customer platforms but excludes travel and event tickets Source: IAMAI, eMarketer, yStats
Though the Indian internet user base is just second to China, only 14% of internet users shop online, compared with 30%-35% in Brazil and Russia, and 55% in China. The ticket size of online transactions in India is nearly 70% lower than any of the other three BRIC countries. Indian internet users are still using the service for several activities other than shopping, such as social networking, video streaming and emails/browsing. Further, the Indian online shopper is purchasing low-value items, implying that e-commerce portals are being used
primarily for research and not to purchase high ticket items. The consumer is still more comfortable buying higher value items from stores. Consumers in Brazil have a higher propensity to buy consumer electronics, home appliances, furniture and jewellery online. Indian consumers, on the other hand, prefer to buy low ticket items such as books and gifts online. For high-value categories such as home appliances and jewellery, the need to touch and feel the product before buying weighs heavily on the consumers’ purchase decision.
Ecosystem maturity India vs. other BRIC countries
Indian e-commerce companies are constantly innovating in terms of their product portfolio, user interface and marketing strategies. However, the sector’s growth will depend upon other aspects of the ecosystem also, all of which together determine success. August 1-15, 2017 / Corporate Citizen / 51
Survey
The e-commerce ecosystem in any country depends on some key factors. The most important is internet penetration and speed, without which there would be no access. The government regulations play a key role in encouraging e-commerce companies in setting shop. Payment modes also determine the success of e-commerce. In India, where debit card penetration is low, Cash on Delivery (CoD) has been introduced and has found a lot of success. The user demographic is also important in determining advertising mediums.
Logistics for end-to-end
f nternet= penetration
Payment= modes
Mobile penetration= and data speed
Figure 3: Internet user demographics
Demographics of the internet users The demographics of internet users define their spending patterns and behaviour. India has a higher proportion of internet users between the age of 15 and 35 compared with other BRIC economies.
Internet user demographics
Regulatory environment
E-commerce ecosystem
Internet user base under age 35
75%
59%
60%
56%
Urban rural split
63:37
72:28
81:19
60:40
% of women internet users
39%
45%
49%
52%
Also, fewer women are online in India compared with the other countries. These demographic characteristics of the Indian internet user imply that the “high earning–high spending� profile of the population (i.e., the population aged above 35 and women) are not spending significant time shopping online. Internet users in India are mainly an urban and educated segment of the population. However,
India's internet user mix is shifting toward rural areas, driven by cheap and easy access to smartphones. The rural population is increasingly aspiring to own the latest mobile phone, clothes and electronic brands. Further, the internet user mix in India is expected to even out between rural and urban areas by 2018. As a result, the rural segment is too big for e-commerce players to ignore.
Internet penetration Internet penetration in India compared with the other BRIC countries is still nascent. However, this does not mean that the market available for e-commerce players is not significant. In terms of actual numbers, the available pool of internet users that can be targeted is only third in the world, next to China and the US. However, the average broadband speeds in India are the lowest among the BRIC economies. In addition, broadband adoption with speeds in excess of 4 Mbps and 10 Mbps was 7.8% and 1.1% of internet users in India, respectively. This is in stark contrast to Brazil, China and Russia, where a higher proportion of users had speeds exceeding 4 Mbps.
Figure 4: Internet user base (millions) and penetration
Internet user base (2014)
243m
649m
108m
84m
Internet penetration
19%
46%
53%
59%
Figure 5: Average data connection speeds (Mbps), 4Q14
22.2
16.8
15.2 9.0
South Korea Hong Kong
52 52 / Corporate / Corporate Citizen Citizen / August / August 1-15, 1-15, 2017 2017
Japan
Russia
3.4
3.0
2.0
China
Brazil
India
Mobile penetration and data speeds
Mobile proliferation has been a key driver for e-commerce in all countries including India. Interestingly, not only does India have more internet-enabled mobile connections than Brazil and Russia combined, the time spent online using the mobile is also among the highest. However, the internet usage on mobiles is not resulting in online shopping. Figure 7: Mobile ecosystem
946m
1,300m
276m
245m
Daily internet use on mobile
3h, 24m
2h, 35m
3h, 47m
1h, 42m
Active mobile internet users
200m
565m
79m
48m
0.6
140
1.1
3.0
Mobile subscriptions
M-commerce (US$ billion)
Modes of payment The Indian buyer has always been more comfortable making cash transactions, both online and offline. Further, banking coverage in India is low compared with other BRIC economies, and credit card penetration is the lowest among all BRIC. Consequently, the use of credit cards for online payments is limited, and cash-on delivery (CoD) is the most popular payment option among Indian buyers. Figure 9: Payment methods used in B2C e-commerce (% of online shoppers), 2013 ----------------------- CHINA -----------------------
----------------------- BRAZIL -----------------------
----------------------- RUSSIA ----------------------56%
73%
85%
55%
44%
25% 25%
Third party payment provider
Online banking
Credit card
Credit card
8%
4%
Online debit
Payment on delivery
Cash
Card
Payment on delivery to post office
Figure 10: Banking and credit card penetration (% of adults above age 15), 2014
Credit card penetration
Bank account penetration
4%
16%
32%
21%
53%
79%
68%
67%
Indian e-commerce players offer several payment options such as CoD, credit/debit card payments, net banking, and cash cards, among others. However, concerns around the safety of online transactions and credit/ debit card information, and payment gateway failures have limited the use of electronic payments. India’s central bank introduced two-factor authentication to increase the safety of online payments. However, the unintended consequence of two-factor authentication is the inconvenience of going through multiple steps to complete a transaction. The real revolution in
the payments landscape will come from the growth of mobile wallets, which are still at a nascent stage in India. Mobile wallets facilitate and increase the convenience of digital transactions. Mobile wallets will enable unbanked customers to conduct online transactions. The potential is huge —even though more than 40% of India’s population is unbanked, the country’s mobile penetration exceeds 80%. This will, in turn, help boost the m-commerce segment in India. Regulations around the use of mobile wallets need to evolve further to promote m-commerce. August 1-15, 2017 / Corporate Citizen August 1-15, 2017 / Corporate Citizen / 53/ 53
Guest Talk / Air Chief Marshal PV Naik
Are the Good Days Coming...?
Defence
Continued from page 7
The Defence Secretary is responsible for the defence of India. The Indian Army, the Indian Navy and the Indian Air Force are attached offices to the Ministry of Defence (MOD). Herein lies the defence conundrum. Perpetuated by the innate civil-military trust deficit since the Nehruvian era, no government has addressed this malaise over the last six decades. Events in neighbouring countries have strengthened the trust deficit. The result is the Armed Forces of India have no say in the decision making process; the security apparatus functions with minimal inputs from the services; civilian control over the military has been misinterpreted to ridiculous levels and bureaucrats rule the roost. The topic deserves an entire chapter, nay, an entire book. I wish to make some brief suggestions to the government which may ameliorate some of the ill effects. Integration: The MOD and the Services must be integrated and brought on a par with other Ministries. Lip service has been paid to this aspect many a time. We may start at lower levels like Director/Colonel equivalent and gradually build up after stabilisation. Rescind the order terming Services HQs as attached offices and make them a part of the decision making process. Budget and Procurement: The Defence Budget needs to be upped to at least three per cent of GDP. This has been long pending. The argument
given is that even now there is unspent money at the end of the financial year. This is basically due to a couple of reasons. Firstly, it is sometimes done deliberately by Finance so that reallocation to other sectors can be done. Secondly, it is due to incompetence or indifference at bureaucratic level because they have no accountability. Lastly, it happens due to inherent delays in the Defence Procurement Procedure (DPP). This came into vogue in 2006 and has been refined. I do not think it can be refined further. We need to take a new look at it, simplify it and make it more effective. Middlemen: Corruption in defence deals is attributed to this species. Time and again the media throws up news of notorious names and the damage to the exchequer. We must understand there is no country in the world where foreign companies operate without middlemen. They may be termed ‘agents’ or ‘facilitators’ or ‘liaison’. In India, the rules of business are so complex that our own companies would find it difficult to prosecute business without liaison, not to talk of foreign firms. The government had tried to register the names of middlemen a decade ago. The terms and conditions were so onerous and intrusive that naturally, none came forward. We need to permit middlemen, register them and ensure they pay their taxes for what they receive. This will achieve transparency and in fact reduce corruption. A common belief is that this is one of the ways to enhance party funding and hence the reluctance to permit middlemen.
We must engage China but from a position of strength. We have a window of 10 to 15 years in which to strengthen the NE in terms of infrastructure. Our missile reach must be enhanced to achieve the desired deterrence. Naval presence in the Indian Ocean must be more tangible. But this is a long term plan. In the short term, we must engage China in infrastructure and trade
54 / Corporate Citizen / August 1-15, 2017
Indigenisation: Indigenisation, no doubt, is a crying need. India is one of the biggest importers of arms in the world; indigenisation cannot take place overnight. We have to create conditions for it to happen. Over the next ten years, we are likely to spend $230 billion on defence. At 30 per cent offsets, the figure is staggering. Can our industry handle such offsets? Does the private sector have the strength and capacity to absorb such amounts? We need to simplify our rules to enable the private sector. The recent decision to enhance the limit of FDI to 49 per cent may help to some extent. There are two things we need to set in motion at the earliest. First is a reorganisation of the DRDO and the Ordnance Factories to make them accountable and efficient. The second is a restructuring of HAL, our biggest PSU to make it more capable. The results will be visible in three to four years and gradually we would move towards indigenisation. Pending Issues: Some issues that could be addressed early have been clubbed. One Rank One Pension (OROP) is an issue affecting the morale of thousands of veterans and needs resolution. Second, the 7th Pay Commission, like its predecessors, has no representative from the Services. Third, a vast country like ours whose soldiers have fought so many wars does not have a National War Memorial of its own. It is a matter of national shame and needs to be put right. Chief of Defence Staff (CDS): Any discussion on defence reforms is incomplete without reference to a CDS. Many acknowledged experts feel that this is the panacea that will set right everything. They are even ready to accept a purely cosmetic appointment of a permanent Chairman of COSC. However, my views are that different countries have different formulations of CDS. In some, the CDS looks after Operations and the three Chiefs provide the forces. Others have the CDS in charge of training, provisioning, logistics and intelligence. In some countries, the CDS looks after budgeting and procurement. We need to decide what type of CDS is most suitable for us. Joint Operations doctrine naturally flows down to Theatre Commands. This is effective when you envisage regular operations away from the homeland. We do not envisage such ops. Exigencies can be dealt with by special joint operations. Joint operations need technology which enables the Commander to control remote areas of influence. We do not possess such technology. So far, adequate emphasis has not been laid on ‘Jointness’ in career progression. That means only those who have served on joint billets can be promoted beyond a certain level. The appointment for a CDS is imperative; we just need to decide on what kind of CDS we require. Personnel also need to be groomed for joint operations and the necessary technology developed. The need of the hour for the Army is tanks, howitzers and ammunition while the Navy requires ships, submarines, torpedoes and missiles. The Air Force’s requirement of the day is aircraft, missiles and radars. Ongoing contracts to restore and refurbish our fighting forces need to be completed first before any restructuring can take place. My take on CDS may be summarised thus. Let us start the debate, develop technology. In three to five years, let the CDS look after budgeting and acquisitions for all the Services besides Joint Commands, strategic weapons and Intelligence. Most importantly, he needs to be the single point of military advice to the Defence Minister and the PM. We should think of a parallel approach with the Defence Secretary dealing with inter-ministry issues and the CDS with military issues. Will the government accept so much power vested in one military person? Will the bureaucracy permit such a trespass on their traditional turf? These are questions that have to be answered first.
Conclusion
We do not have a national character or a national religion. We are not agreed upon a national language; neither do we understand national interest nor do we sport national pride openly. We do not possess a ‘Brand India’. Having been ruled by foreign powers for a thousand years, the scars manifest themselves in our behaviour. Independence was attained with very little bloodshed thanks to the struggles and sacrifices of a few great men and women and so, not everyone has felt the pain. We have got democracy before literacy. Hence we undervalue it. We are not responsible citizens and we do not take our duties as citizens seriously. It boggles the imagination that despite these impediments, we have continued as a successful democracy for more than 60 years. We are deeply emotional. Once we take someone to our hearts, we raise him to the highest pedestal, that of a demi-God. Prime Minister Narendra Modi is one such individual. The public manifestation is the massive mandate given to him in the recent elections. Every Indian expects him to set things right. Sometimes, I sympathise with him because the sheer weight of public expectations must be wearing him down every day. Time is at a premium. He has taken over the reins of government at a time when India’s stock is low in the world in terms of credit rating. The inaction of the outgoing government has left him with myriads of problems. The world economy is in a slowdown mode. El Nino is delaying the monsoon. The war in Iraq has affected demand and supply of oil. Prices of common goods are rising. He has thousands of priorities before him and he knows that, finally, hard, unpalatable decisions will have to be taken. My thinking on how to handle some of the priorities has been put down in this paper. I am sure the government is aware of most of them. Some measures to clean up the administration have already been initiated in Delhi. I have made special mention of the priorities in Defence and Security sectors. All priorities will have to measure up against a time graph; some more imperative than others. Some have to be initiated immediately for the effect to be felt later. Some will have to be sounded out against the political sounding board or the international environment. Some will have to be abandoned after a cost benefit analysis, to be tried out at a more propitious time. Whatever be the method, it has to be a combined effort. Not only the government but also the opposition has to fall in line on issues dealing with national interests. The whole country will have to learn to tighten its belt for some tough measures. We citizens will have to exert the national will to overcome the ills of corruption, delayed decisions and lack of governance. Remember, there is no magic wand. Patience should be the order of the day. I have no doubt that if each one of us exercises more discipline, does our own job sincerely and keeps national interest in mind, good days will come and India will once again take its rightful place in the new world order. Courtesy: http://www.indiandefencereview.com/news/are-the-good-dayscoming/0/
We have got democracy before literacy. Hence we undervalue it. We are not responsible citizens and we do not take our duties as citizens seriously. It boggles the imagination that despite these impediments, we have continued as a successful democracy for more than 60 years
(In a distinguished career spanning forty years, Air Chief Marshal PV Naik, VSM, PVSM has held several important staff appointments at different Headquarters. Prior to his appointment as the Chief of the Air Staff, he has been the Senior Air Staff Officer at HQ Western Air Command, the Air Officer Commanding-in-Chief of Central Air Command and the Vice Chief of Air Staff. He has also been Directing Staff at TACDE and the Defence Services Staff College.) August 1-15, 2017 / Corporate Citizen / 55
Pearls of Wisdom
By Nirmala
Exploring emptiness This principle—that strength, joy, peace, and love can be found inside our feelings of emptiness and lack—is a radical new perspective. But this truth can only be fully known by diving into your experiences of emptiness
56 / Corporate Citizen / August 1-15, 2017
ometimes we feel an inner sense of emptiness. When we look within, it seems like nothing is there, so we distract ourselves with something on the outside, like food or television. Yet, these outer distractions take care of the emptiness only temporarily; they capture our attention only temporarily. When the distraction is over, the emptiness returns. What is it about emptiness that makes us want to move away from it? Is emptiness really a bad sensation? When you consider the literal meaning of emptiness, how can it be a problem? Is it possible for “nothing” to hurt you? Is that sense of emptiness, that empty feeling, actually uncomfortable, or is the restlessness and activity of trying to distract yourself or avoid the emptiness, what is uncomfortable? This is an important distinction. We are so used to assuming that feelings of lack, emptiness, or something missing are a problem that we are uncomfortable when that is our experience. But is the emptiness the source of our discomfort? Or is what we do in response to the emptiness the source of our discomfort, including the stories we tell ourselves and the judgments about the fact that we feel empty? It’s not our fault that we tend to avoid feelings of emptiness. We were taught to do this by everyone around us who was doing it. In fact, there's a good reason to avoid one feeling of emptiness—the feeling of hunger—since we need to eat when we're hungry. However, we often interpret a feeling of lack as a need for food. Have you ever eaten when you weren’t hungry to try to distract or relieve yourself from a feeling? It’s possible to simply experience the sensations of emptiness or lack and discover that they aren’t so bad. Try it and see for yourself: Exercise: What happens right now if you just allow any sensation you might have of emptiness, lack, or there not being enough? Are those sensations painful, or are they just sensations? Perhaps there's something in particular that
feels lacking: a lack of strength, energy, or selfworth; a lack of excitement or interest; a sense of there not being enough security or safety; or a feeling that right now there's no joy or happiness. And yet, are the sensations that let you know that these things seem to be missing is unpleasant? What happens if you just let those sensations be here for a moment? It certainly would simplify life if we didn’t have to do anything about these feelings of lack. So much of our activity, effort, and inner striving are meant to get us more of what we seem to lack. But what if it's okay to lack something? What if it's okay to just feel empty? What a relief! So much less to do! Even more surprising is discovering that the sensations of emptiness can be enjoyed. There is a richness to silence, to stillness, to space itself. We overlook the richness of the inner silent spaces in our being. Most of us are quite unfamiliar with them because we've been turning away from them most of our lives. Just as a wine connoisseur can make finer distinctions in the flavour and quality of wine than someone who has only tasted wine a few times, we can become connoisseurs of emptiness. Perhaps the biggest surprise is when we discover that the very thing that feels lacking in an experience of emptiness is often found in the emptiness itself. For example, if you feel weak or lacking in strength and energy and you stay present to that sensation of weakness or lack, you may notice a deeper, more subtle sense of strength appearing in the emptiness. The strength, joy, peace, and love that can be found in the empty places within us are much more subtle than the feelings generated from our usual attempts to feel strong, happy, or loving. However, when we focus on the inner strength, joy, peace, or love, the experience of them can become powerful and real in a way that far exceeds our expectations. Who knew that there was a deep reservoir of infinite peace lying under the restless feeling of a lack of peace? What a surprise to find abundant joy in the dry, empty sense of a lack of excitement and fun! This principle—that strength, joy, peace, and love can be found inside our feelings of emptiness and lack—is a radical new perspective. But this truth can only be fully known by diving into your experiences of emptiness. Since doing this is so contrary to our conditioning, we have to develop a new habit of paying attention to feelings of emptiness in order to discover the richness waiting there. (Nirmala, is a spiritual leader, based in the USA. The article is from his free ebook: That Is That: Essays About True Nature. Here is the link of the original and complete article: http:// endless-satsang.com/emptiness.htm)
August 1-15, 2017 / Corporate Citizen / 57
Bollywood Biz
From
Beauty Queen to Bollywood Queen
Winning beauty pageants guarantees an easy entry into Bollywood. However, entering Bollywood is a lot easier than sustaining there. Countless beauty queens have made their grand debut in Bollywood but only a few talented ones have managed to find success. This edition, Corporate Citizen brings you the most successful Bollywood beauty queens
By Namrata Gulati Sapra
Priyanka Chopra
The queen of sass overshone many other beauty queens to become Miss World in 2000. In 2003, she made her debut in The Hero, followed by a string of forgettable movies. PeeCee’s acting career finally took off in 2004 when she delivered stellar performances in Mujhse Shaadi Karogi and of course, Aitraaz. The actor-singer, who was named in the Time Magazine as one of the 100 most influential people in the world, has reigned Bollywood with films like Fashion, Mary Kom, Barfi, 7 Khoon Maaf et al. She has also made her mark in Hollywood with her successful TV show Quantico and has signed three movies, ensuring that she repeats her Bollywood success in the west.
Aishwarya Rai Bachchan
The doe-eyed beauty became Miss World in 1994. Three years later, she stepped foot into Bollywood with Aur Pyar Ho Gaya. Touted as ‘The world’s most beautiful woman’, Aishwarya soon tasted commercial success with movies such as Hum Dil De Chuke Sanam and Devdas. She also wowed the audience and critics with her performance in Chokher Bali, Raincoat, Provoked, Jodhaa Akbar, Guzaarish and Sarabjit. Recently, she won hearts by slipping effortlessly into the shoes of the sauve Saba in Ae Dil Hai Mushkil. 58 / Corporate Citizen / August 1-15, 2017
Juhi Chawla
Juhi Chawla was crowned Miss India in 1984. At the tender age of 18, she debuted with Sultanat, but made a splash with Qayamat Se Qayamat Tak in 1988. She went on to rule the roost in 90s with movies such as Darr, Yes Boss and Hum Hain Rahi Pyar Ke. Even now, she continues to be active in movies as well as produce them. Her last big screen foray was Chalk n Duster in 2016.
Sushmita Sen
Sushmita Sen became the first Indian to bring home the Miss Universe crown in 1994. Sushmita’s career in Bollywood began with Dastak, but is mostly defined by Biwi No. 1 (she bagged several awards for it too) and Main Hoon Na, in which she charmed the audience as a sultry professor.
Zeenat Aman
Zeenat Aman won the Miss Asia Pacific title in 1970, making her the first beauty queen to find success in Bollywood. The actor who debuted with Hungama, is known for choosing unconventional roles as in Insaaf ka Taraazu, for which she bagged an award for the Best Actress and Hare Rama Hare Krishna that got her a Filmfare Award. Zeenat’s career in Bollywood spanned over a decade, and she has several hits to her name.
Honourable mentions Dia Miza Jacqueline Fernandez Lara Dutta Meenakshi Seshadari
namratagulati8@gmail.com August 1-15, 2017 / Corporate Citizen / 59
Mobile Apps
Skyscanner
Evernote
Five best apps for students going abroad
Leaving your homely abode and flying abroad to make career is a daunting task. New space, new people, new culture and new life-these changes can certainty take a toll on you. While you concentrate on your studies and career, Corporate Citizen brings you top five apps that will make your life easy in the country, which is your new second home By Ekta Katti
Schoold A free app available on iOS and Andriod, Schoold is a search app, which allows students to search colleges and universities. This enables the students to receive counselling and advise on college applications, financial aid, majors, and career opportunities. 60 / Corporate Citizen / August 1-15, 2017
This time saver app is the best note taker and organiser for the students. This app allows you to take notes, create to-do-lists, and save things that you find online on Evernote. The note created thus can be stored as formatted text, a webpage, a voice memo or a photograph. It allows smooth data transferring from computer to your phone and visa-versa. Students can easily clip or mark an important article from the web, which would be useful for their research purpose. You can easily create agendas, presentations and write memos. A restricted free version of Evernote is available on on both iOS and Android while its full version is paid for.
A website and an app, this is a metasearch engine that will make your commuting woes hassle free. You can easily scan from the best and the cheapest flights anywhere across the globe. Travel deals on the go is their best feature. The app also provides travel advise, car hire services and hotel scanning. To make your search easier, the app is multilingual. Skyscanner is available in 30 languages and 70 currencies. This free app is available both on iOS and Android. One of most efficient research engine, Skyscanner covers some of the major airlines giving the traveller a variety of options to choose from.
Circle of 6 Foodspotting
Find dishes that you love in a new city. Well, now that you are miles away from your home, one would certainly miss their mom’s food. But, you can rejoice as Foodspotting is more about dishes than restaurants. This app will help you find exactly what you are craving for. Your local food visual guide comes with reviews by foodspotters and experts, which can make your search for the best food items easy. It’s sort of online window shopping, where you can scan through the mouth-watering delicacies and decide where you would have your next meal. This freeware app is developed for both iOS and Android.
Designed for both iOS and Android, Circle of 6 is a safety app, which is designed for college students to avoid sexual violence. Termed as the 21st century’s rape whistle, this app keeps the university students connected. For that, you need to choose your six closest friends, who would come to your rescue. An instant need for help, and two taps will send an SOS signal to six close friends of yours. Also, the GPS will help your friends track you down. There are other options wherein you can send your location, a Pin Icon that sends a text “Come and get me. I need help getting home safely” with your GPS coordinate and other features. ektaa.katti@gmail.com
Claps & Slaps Capturing their boat journey on Facebook Live proved fatal for eight out of the eleven youngsters
Corporate Citizen Claps for the budding engineers and ideators of College of Engineering Pune (COEP), who did their alma mater proud in the recent BAJA SAE Kansas and BAJA SAE Illinois in the USA The COEP students had designed and sustained an All Terrain Vehicle-Kart, MKXI. This entry won them the ninth and eleventh position in Illinois, respectively. The US BAJA is an old and reputed event with entries from leading Universities in several countries, including Brazil and Canada. In all nine colleges from India including two more Pune colleges-the Sinhgad College of Engineering and Pimpri Chinchwad College of Engineering had been to the US for the BAJA event. According to Tejas Belgamwar, a team member, their performance as a team won them a high spot, despite the tough show by other teams. Nature did have a major role to play as rough weather cancelled all the dynamic events. All rounds were held on a first come, first serve basis, but by the time COEP’s turn came, the event had to be called off due to thunderstorms. Not to be outdone, team COEP claimed fourth position in the designing. Similarly, the endurance race had them placed fifth despite the tough competition. Overall, they placed ninth, after which team COEP started-off with a bang in Illinois by bagging top spot in the acceleration section. “We have always done well in BAJA India, but taking on the Michigan team was a high,” said Shubham Konda, another member. The Michigan Team, for instance, is a top ranking team in the US so beating them was special. After that, it would seem team COEP was on a roll-top spot in the Hill Climb Event and fifth position in Rock Crawl and Design respectively. In the endurance race, COEP started from pole, which was a huge achievement because it was the first time in 40 years that any non-American team has taken the pole. Though they started well enough, engine failure at pit stop brought them to 49th spot. From there, they managed to finish at 17th. All in all, a great learning curve and proud moment for Indian engineering talent. Go COEP, Go!!!! Ranking: • BAJA SAE Illinois: Overall: 11th (Accleration 1st, Rock Crawl 5th Hill Climb 1st, , Endurance 17th). • BAJA SAE Kansas: Overall: 9th (Acceleration 3rd, Design 4th, Endurance 5th).
Corporate Citizen slaps the spate of drownings being witnessed across the states over the recent weeks mainly due to the apathy shown by monsoon picnickers and local administrations towards adopting safety measures in time Recently, a chilling video on ‘Facebook Live’ by a group of 11 youngsters in their 20s picnicking at Ven reservoir near Nagpur, taken moments before the boat in which they were sailing capsized, killing eight of them, has left people numb with shock. Every year, a spate of drowning incidents are witnessed during monsoons. The number of such incidents has increased over the recent years. The police has been blaming the increasing fad of taking selfies and the tendency to overlook dangers, in order to capture the best shot, to post it on social media. Other reasons for drowning incidents are due to slipping over the mud sludge or moss. Tourists, in their frenzy to seek maximum pleasure from waterfalls and lakes that sprout during monsoons, have no idea of the depth or waterbodies, growth of aquatic plants or velocity of water. According to a collaborative study, `Me, Myself and My Killfie: Characterizing and Preventing Selfie Deaths’, by researchers from Carnegie Mellon University and Indraprastha Institute of Information Delhi, of the 127 selfie deaths reported across the globe from March 2014 and September 2016, 76 were from India. The police have taken measures like identifying a few places as no selfie zones and putting up signboards cautioning the tourists about the dangers. For example, Lonavala Police has put up signboards at Bhushi Dam, a popular tourist spot and various cliffs in the vicinity, cautioning tourists about the danger there. As many as 16 spots were declared no selfie zones in Mumbai following a spate of selfie drownings in the last year According to media reports, ‘maximum city’ Mumbai alone witnessed as many as five drowning incidents at various places in the last week of June. When a series of these incidents took place, the police resorted to tweeting safety tips under the hashtags #SafeMonsoonTips: “Don’t make ‘taking a selfie’ mean ‘taking your own life’”. Now they are considering a proposal to declare 15 more sites in the city as ‘selfie free points’. Earlier in the month of June, 55 collegians from Mumbai picnicking at Devkund waterfall in Raigad district who were marooned due to flash flood were rescued by the police and volunteers of a local rafting club. (Compiled by Kalyani Sardesai and Prasannakumar Keskar) August 1-15, 2017 / Corporate Citizen / 61
Dr (Col) A Balasubramanian
From The Mobile
What kind of children are we creating? A few weeks ago, I had attended a birthday party of my daughter’s friend. There they played a game, the age old ‘Passing the parcel’; however, what was different was the way it was played. The child who was caught with the parcel when the music stopped was asked to leave the circle, but with that parcel as the gift, and then a new parcel was introduced. The game continued till every child had a gift. I asked the mother what was wrong with the earlier version, the version we had all grown up with. She said, “I do not like kids to be disappointed. See, here every child is happy as he or she gets to take a gift home.” In another instance, I was in the park with my daughter. She was playing lock and key with her friends. Now, one of her friends fell down. Her mother, who was on the other side of the park ran to his son, all confused and upset. She scooped her son in her lap and started inquiring, “Are you hurt? Let me see! Do not cry! Shush, mama is here.” The child had a scraped knee, who was perfectly okay until then, started crying earnestly. I was at a friend’s home for lunch. Her 5-year-old daughter refused to eat what was cooked for lunch. My friend felt so guilty that her daughter would go hungry, that she cooked up her favourite pasta immediately. According to her, it was not the first time this had happened. At the School Sports Day, there are no rac-
62 / Corporate Citizen / August 1-15, 2017
es, no competition. No first, second or runner ups. Because, everyone is equal, there should be no competition between the kids. Kids today have a room full of toys and games. Some they ask, some they do not. But, they still get them. Everything in excess is the new mantra of life. Our parents taught us self-reliance, while we hover around our children and want to protect them at all costs. We like to hold our babies closer to the protection of the nest. We go out of our way and rustle up something when they don’t eat what’s cooked at home for everyone else, because we don’t want them to sleep hungry. Instead of letting them play outside, we organise activities for them. We do their homework and their assignments. We even resolve their conflicts for them. It makes me wonder, what will happen to these kids when they grow up? Will they get a gift every time they fail? Will they be able to handle disappointment? A child who has never been denied anything, how will he cope with rejections? There are a growing number of cases when kids run away from home or commit suicide because they are not able to deal with low marks in examinations or when they fail to secure an admission in an institution of their choice. Will their parents keep them hidden in their bosom all their life? Our mothers never
ran after us, a scraped knee was just that. She would ask us to wash it with some water and then forget about it. But, there was no drama that followed. Falling and hurting was a part of daily life for us. We cycled, climbed up trees and jumped from the stairs. Today, kids travel in elevators and escalators (because they might fall down the stairs and get themselves hurt). Earlier, kids walked and cycled. I hardly see kids walking nowadays, unless it’s for a kids’ marathon and they are required to pose for selfies with their cool mommies. Will they shy away from competition or be able to survive it? okay, so we can accompany our kids till the college gate and sit in the waiting area while they appear for a job interview. A child who is never used to losing – how will he survive in the big bad world? We are raising our kids to be adult babies. So what should we do? Stop telling our children that they are special all the time. They are not, at least not always. So reserve the praises for the times when they actually deserve. Stop going out of the way to create happiness in their life. Life is a mix of joys and sorrows, and it is for a reason. We have no right to interfere with nature. So let’s stop pretending that everything is all right when it’s not. Let the kids have their fair share of disappointments at an early age. It’s better to fall at 10, than at 40.
5 lessons from ICC Champions Trophy final
T
Lesson 4
he much hyped cricket match between India and Pakistan finished with a gloomy impact on Indian Cricket lovers. Lot of analysis and post mortem has been done on the reasons of India’s defeat. But like elsewhere, sports tournaments too leave a trail of events, which bestow us with experience and wisdom that ultimately enrich our lives. Let us learn some key lessons from the match and see how we can benefit from this to fine tune our personal finance.
Have a protection for your life and health
Jadeja is being blamed for Hardik Pandya’s run out. He was so focused on his own running that he couldn’t see Pandya was coming on his way which leads to fall of the wicket of highest scorer from Indian team. Likewise many a times we are so busy with our profession that we forget to look at our family and take adequate protection for them. One sudden death of the earning member or a critical health issue of any family member could jeopardise your financial goals completely. Take a term and health insurance cover to guard your family from falling in any financial mess in case you are not around.
Lesson 1
Keep a cap on your discretionary expenses
Too many ‘extra runs’ given by Jasprit Bumrah helped Pakistani team to set a big target for India. Similarly, avoid making unnecessary or ‘extra’ expenses, which may set our financial goals too heavy to achieve. Lesson 2
Avoid impulse buying
Early wickets of opening batsman Rohit Sharma and skipper Virat Kohli put Indian team in a big trouble and ultimately they could not achieve the target set by Pakistanis. Many times, we start for investing for a goal but very soon we have an urge to buy something attractive (like expensive mobiles, luxury cars, jewellery etc.) and we withdraw that amount to pay for our luxury. That makes our goals more difficult to achieve.
Lesson 5
Lesson 3
Start early and invest regularly
India’s target was 339 in 300 balls that are some 1.13 runs per ball. Does it seem to be very challenging task? If singles could be scored from the very first ball with occasional boundaries, the target would have been easily achievable. Just like that, start small investment with your first paycheck and continue till the end of your financial goals. Your effort should be to be disciplined and consistent and leave the rest on power of compounding. You will notice how comfortably you are on your financial goals.
Build a partnership, with your advisor
It needs two to tango! One of the big reasons why India failed to achieve the target is that no two batsmen could build a robust partnership. History shows, a winning team mostly represented by marvellous partnership from any two batsmen. Build a long-term mutual relationship with your advisor based on trust and compassion. He can guide you best in the ups and down of financial matter and at the end both of you can come out as a winning team in the lifetime tournament of wealth creation.
Happy Investing...
How many actresses can you recognise? Answers: Seated (L to R): Sridevi Madhu Bala Nargis Hema Malini Madhuri Dixit Waheeda Rehman Kajol Nutan
Standing (L to R): Vyjanthimala Meena Kumari Fearless Nadia aka Mary Evans Rekha Suraiya Devika Rani Jaya Bhaduri
August 1-15, 2017 / Corporate Citizen / 63
astroturf Money days: 2, 3, 6, 7, 8, 11, 12 Profession days: 4, 5, 13, 14 Another happy and healthy month. You will be doing what you love doing the most. Though your financial planet is still retrograde it begins to move forward on the 25th.
Aries
Mar 21 April 20
Greatest days: 1, 2, 3, 11, 12 Hectic days: 4, 5 Honey days: 9, 10 Money days: 6, 7, 9, 10, 13, 14 Profession days: 2, 3, 4, 5, 11, 12 The month ahead heralds happy beginnings and healthy too. The two eclipses do create happiness, excitement and change. You can actually be a in a party mode now, as your 5th house of fun and frolic became powerful on the July 22nd and remains powerful till 22nd August. other.
TAURUS April 21 May 20
Greatest days: 4, 5, 13, 14 Hectic days: 6, 7, 8 Honey days: 4, 5, 9, 10, 13, 14 Money days: 4, 5, 6, 7, 13, 14 Profession days: 2, 3, 6, 7, 8, 11, 12 Your 4th house remains very powerful this month. Continue working on your emotional well being and the harmony of the domestic sphere. Fun happens after emotional harmony is established.
GEMINI May 21 June 21
Greatest days: 6, 7, 8 Hectic days: 1, 2, 3, 9, 10 Honey days: 1, 2, 3, 6, 7, 9 Money days: 1, 2, 3, 6, 7, 11, 12 Profession days: 9, 10 Two major eclipses this month Lunar and Solar are planetary retrograde not to worry as you will remain unscathed. Your travel planets Mercury and Uranus are retrograde so avoid travelling on the 3rd and 13th of this month.
CANCER June 22 July 23
Greatest days: 9, 10 Hectic days: 4, 5, 11, 12 Honey days: 2, 3, 4, 5, 9, 10, 11, 12 Money days: 1, 2, 3, 6, 7, 11, 12, Profession days: 1, 2, 11, 12 Last month the planetary power
(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 began its shift from the upper to the lower half of your chart. This month, Venus crosses from the top to the bottom and the shift gets stronger. You need to focus on the close realtionships.
LEO
July 24 Aug 23 Â
Greatest days: 1, 2, 3, 11, 12 Hectic days: 6, 7, 8, 13, 14 Honey days: 2, 3, 6, 7, 8, 9, 10, 11, 12 Money days: 4, 5, 6, 7, 13, 14 Profession days: 9, 10, 13, 14 The two eclipses affect you this month but you do have the energy and help needed to deal with them; even though your health is good yet you need to reduce your busy schedule over the eclipse period. The Lunar Eclipse of the 7th occurs in your 7th house of love thus testing all relationships.
VIRGO
Aug 24 Sept 23
Greatest days: 4, 5, 13, 14 Hectic days: 1, 2, 3, 9, 10 Honey days: 9, 10 Money days: 6, 7, 9, 10 Profession days: 4, 5, 13, 14 A period for making major spiritual breakthrough and indulging in holistic sciences like mediation yoga etc. Contemplate on various spiritual practices, there is an inner idealist in every individual and this is a time to set it free.
64 / Corporate Citizen / August 1-15, 2017
LIBRA
Sept 24 Oct 22
Greatest days: 6, 7, 8 Hectic days: 4, 5, 11, 12 Honey days: 1, 2, 9, 10, 11, 12 Money days: 4, 5, 6, 7, 13, 14 Profession days: 1, 2, 3, 11, 12 Your 11th house of friends and family became strong last month on the 22nd and remains so this month too. So the month ahead is especially joyful and happy one. All kinds of relationships prosper under this aspect of Mars, which resides in your house.
SCORPIO Oct 23 Nov 22
Greatest days: 9, 10 Hectic days: 6, 7, 8 Honey days: 9, 10, 13, 14 Money days: 1, 2, 3, 6, 7 Profession days: 1, 2, 3, 11, 12 Career remains the headline of this month, not only is your 10th house powerful but there is also a Solar eclipse in this house on the 21st, so you will experience a lot of activity and change happening in your career.
SAGITTARIUS Nov 23 Dec 22
Greatest days: 1, 2, 3, 11, 12 Hectic days: 9, 10 Honey days: 4, 5, 9, 10, 13, 14
CAPRICORN Dec 23 Jan 20
Greatest days: 4, 5, 13, 14 Hectic days: 11, 12 Honey days: 1, 2, 3, 9, 10, 11, 12 Money days: 2, 3, 6, 7, 8, 11, 12 Profession days: 9, 10, Your 8th house of regeneration and transformation became powerful on July the 22nd, and remains powerful this month too. The Solar eclipse on the 21st occurs in this house adding to its importance.
AQUARIUS Jan 21 Feb19
Greatest days: 6, 7, 8 Hectic days: 13, 14 Honey days: 1, 2, 3, 9, 10, 11, 12 Money days: 6, 7, 9, 10 Profession days: 4, 5, 13, 14 Retrograde activity is maximum this month from the 13th to 25th, more than half the planets are moving backwards. Things slow down the world over and in your personal life too.
PISCES Feb 20 Mar 20
Greatest days: 9, 10 Hectic days: 1, 2, 3 Honey days: 4, 5, 9, 10, 13, 14 Money days: 1, 2, 6, 7, 11, 12 Profession days: 1, 2, 3, 6, 7 Retrograde activity increases this month. Events also slow down this month. You may feel directionless and in a way this proves to be good for you. Go with the flow, allow others to have theirs. 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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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
August 1-15, 2017 / Corporate Citizen / 65
the last word
Ganesh Natarajan
NGOs need a corporate touch As automation and artificial intelligence eats away at traditional jobs in the industry, imagine the potential of intelligent and well-meaning professionals choosing alternate careers in the social sector…
A
few months ago, at a Board Meeting of Social Venture Partners International in Scottsdale Arizona in USA, a colleague from the US told me, “I am convinced that social work is too important to be left to the social sector. It needs a corporate touch and the kind of venture philanthropy discipline that entities like Social Venture Partners (SVP) introduces in all its worldwide chapters to ensure that good intentions translate to great outcomes.” This statement may not go down well with the hundreds of thousands of NGOs and social enterprises in our country, but for many well-intentioned organisations in the social sector, a corporate touch has helped! Three organisations that I have been involved with in the last three years bear testimony to this. SVP India, set up in Bengaluru four years ago by Ravi Venkatesan and some of us has over three hundred engaged partners and more than a dozen well-meaning NGOs which have been transformed into fast growing social organisations. Pune’s own Jagruti, the nursing assistant training venture has grown from one centre with an output of hardly twenty graduates every year to multiple locations with nearly five hundred proud youth passing through its courses every year. SVP India’s Million Jobs Mission has identified fifteen entities like
The Pune City Lighthouse team at the Hadapsar Centre
over two lakh citizens, carefully mapped to make one member of every underprivileged family in the city digitally literate through multiple media-stand-alone literacy centres, municipal buses and shipping computers fitted with a dozen or more computers each and thousands of volunteers being motivated and equipped to fan out into the city and make triple their number digitally ready. The digital literacy programmes in many Indian cities have been designed in partnership with the Ministry of IT and Electronics by NASSCOM Foundation, another entity which has blossomed in the last few years with the appointment
Jagruti, which have the potential to scale nationally with the support of partners who want to see major change happen on their watch! If one can credit the involvement of many corporate leaders for the success of SVP, look at the growth of Pune City Connect (PCC) led by the untiring Ruchi Mathur-an IIM Ahmedabad alumnus with 20 years corporate and social experience, who has built rapport with local, national and multinational firms and also the Local Government and corporators to The digital literacy procreate three pillars for grammes in many Indian city transformation. cities have been designed The adoption of over 50 Marathi and Urdu in partnership with the Minmedium municipal istry of IT and Electronics schools and creby NASSCOM Foundation ation of both model schools and Shikshak Sahyogi Dals to help teachers deof a seasoned corporate executive, velop the motivation and comShrikant Sinha as its CEO. In three mitment to excel is a role model. years, the Foundation, which was For city youth, the establishment established as the social arm of Naof three Skills Lighthouses with tional Association of Software and the future promise of one per Services Companies (NASSCOM), ward showcases a unique model over a decade ago has multiplied its of sustainable livelihood creation impact ten times, with nation-wide starting with agency or aspiration programmes ranging from the building, providing counselling Government’s e-waste initiative, the on livelihood options through public libraries revival and refuremployment, entrepreneurship bishment programme with support and encouragement to dream of from the Bill and Melinda Gates ideal vocations and providing Foundation, the Skills and Digital help to get skilled in the area they Literacy Missions supported by key choose. The ambitious Digital IT, BPM and Financial Services Pune 2020 plan, which envisages firms and initiatives like donation
66 / Corporate Citizen / August 1-15, 2017
of software and hardware to NGOs and focus on physically and visually challenged youth to be skilled for jobs. Many firms employing “Tech for Good” have been recognised, mentored and supported by the NASSCOM Social Innovation Forum and the impact of the Foundation can serve as a role model for other industry foundations to use the funds and volunteering strength for national collaborative projects. Recently announced ambitious programme of NASSCOM Foundation, in partnership with the Tata Institute of Social Sciences and Head Held High Foundation in Bengaluru, envisages the creation of “Metta Fellowships” to encourage companies to sponsor 11-month sabbaticals for middle managers and equip them to work on social inclusion in key projects and programmes around the country. Scalability is its power. As automation and artificial intelligence eats away traditional jobs, imagine the potential of intelligent and well-meaning professionals choosing alternate careers in the social sector and playing a role in leading three hundred million of their countrymen to a more rewarding life! The potential to do good in this country continues to be immense and the joy that many of us are deriving from spending a substantial portion of our time and money in giving a professional touch to social endeavours can be experienced by any and many who choose to share….and care! Dr. Ganesh Natarajan is Chairman of 5F World, Pune City Connect & Social Venture Partners, Pune.
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