MMA-KAS Business Mandate (May 2024)

EDITOR

Gp Capt R Vijayakumar ﴾Retd﴿, VSM

READERSHIP OUTREACH

Gp Capt Dr R Venkataraman ﴾Retd﴿

Sundar R

Vakeeswari M

DESIGN

D Rajaram, Tayub Refai

MADRAS MANAGEMENT ASSOCIATION

Management Center, New No 240 Pathari Road, ﴾Off Anna Salai﴿, Chen

Ph:044‐2829 1133 / Email:mma@mmachennai org | mandate@mmac

Gp Capt R Vijayakumar (Retd), VSM

Enhancing the Voting Experience

The first phase of elections has ended peacefully We all saw the excited faces of firsttime voters, the curious expressions of seasoned voters, the flashing cameras in selfie booths, the satisfaction of seeing the EVM display after voting, and the pride of voters leaving the booth with inked fingers.

The Election Commission of India has been striving to achieve the goal of 100% turnout by raising awareness through a variety of platforms The proactive initiatives undertaken by the Election Commission demonstrate a steadfast commitment to ensuring that the world's largest elections are conducted freely and fairly Well done, EC!

However, questions persist about the effectiveness of the current set of electoral reforms introduced by the Election Commission 30 years ago, which have undergone continuous improvement over time

The recent judgment of the Supreme Court on the EVM is most welcome, and hopefully, will put an end to biases regarding the functioning of EVMs However, the concept of " one nation, one vote" may have introduced additional issues to address while tackling electoral reforms

In this context, MMA is organizing a talk on "Election Reforms: Boon or Bane?" on Wednesday, May 15th, at the MMA Management Center. A galaxy of eminent speakers will be sharing their insights during

 Sustainability has emerged as a defining issue of our era, and India is leading the charge towards Environmental, Social, and Governance

the event Join us in person to learn about Electoral Reforms, or tune in live online to stay informed

MMA IAS Training Academy

It has always been MMA's mission to foster excellence among future leaders In line with this commitment, numerous initiatives have been undertaken to benefit tomorrow's leaders. Continuing in this vein, MMA is venturing into the realm of IAS aspirant training Our objective is to provide a highquality training module spanning 700 hours at the MMA Management Centre, complemented by various additional amenities These include MMA Associate Membership, access to a diverse pool of mentors, library facilities, mock interviews with senior leaders, and other professional services crucial for career success Upon successful completion of the course, participants will be awarded a Diploma in Management, subject to thorough evaluation. The course content will be delivered by our knowledge partner, Synergy Siddarth IAS Academy, renowned for their expertise in this domain. Additionally, a cadre of management professionals from MMA, possessing a wealth of talent, will contribute to the program

We believe that this initiative will benefit a significant number of aspiring professionals seeking to become Civil Services Officers. The cost of enrolment is substantially lower compared to similar institutions, making it accessible to a broader range of aspiring professionals and students. We encourage you to share this information with your contacts who may wish to take advantage of this exclusive offering from MMA Click to learn more.

Women Empowerment!

In the past few decades, one of the most rapidly evolving segments of Indian society has been women

spanning across ages, income levels, occupations, and educational backgrounds Against this backdrop, I am pleased to present two powerful insights shared during the MMA Women Convention, themed "Winning Together" and "Like a Boss," by exemplary women leaders.

Despite significant strides, current depictions of women and the contexts in which they operate often confine them to restrictive and stereotypical roles What is imperative is a bold reimagining that fosters a new gender landscape, one that acknowledges and embraces women's unique perspectives

To increase women’s participation at the highest level, an environment conducive to their retention and success needs to be created. A few initiatives in this context could be nonlinear working hours, reduced commute time, flexible work locations, and more financial and institutional support for dependent care. For these measures to be successful, organizations should focus on expanding the overall pool of female managers and leaders

While progress has undeniably been made, there is still a long way to go. I encourage you to delve into the articles in this issue, to be inspired and empowered by the stories and perspectives shared

A Sustainability Framework for Corporate India

Sustainability has emerged as a defining issue of our era, and India is leading the charge towards Environmental, Social, and Governance (ESG) excellence. This transformative journey blends regulatory mandates with future frameworks, all geared towards the common objective of achieving net-zero emissions. Empowered by regulatory directives and a notable shift in corporate mind-sets, where ESG has ascended to the top of boardroom agendas, this transformation signifies a

fundamental shift in how businesses perceive their roles

India's pursuit of ESG excellence necessitates steadfast commitments from all corporate entities. By prioritizing responsible governance, environmental stewardship, and social well-being, businesses can chart a course towards a more sustainable and equitable future.

In this regard, MMA hosted a seminar titled "Sustainable Sustainability: Why ESG is Not Enough" in April 2024. A distinguished panel of speakers shared their insights on this theme, offering inspiration and thought provoking reflections Let this serve as a collective rallying cry for action, fostering a legacy of enduring value for generations to come. I am delighted to present the articles in this issue; read on or watch the recording of the seminar to be inspired!

Critical Insights into the Booming Real Estate Industry

The emergence of the upper-middle-class buyers has significantly escalated the demand for housing across the country. India’s housing market remained subdued for a decade until COVID struck, highlighting the urgent need for improved living conditions This transformation has revitalized the country’s property market, contributing to increased property purchases and greater value addition to India’s housing stock, with favorable multiplier effects

In this context, it is crucial for buyers to be wellinformed about the latest rules and regulations in the real estate sector before making informed decisions. Similarly, it’s imperative for real estate promoters to uphold transparency and adhere to the law.

The regulatory landscape has undergone significant

shifts, and with proactive measures from RERA, these changes are not merely compliance measures; they serve as catalysts for positive change, paving the way for a dynamic future in real estate. As the industry adapts to these changes, it positions itself to thrive amidst evolving market demands and global challenges, ensuring a more transparent, accountable, and consumer-centric real estate ecosystem.

In light of these developments, MMA is organizing a seminar on the theme “Navigating Change: Emerging Trends in Real Estate Regulations and Their Impact on the Industry” on Thursday, May 9, 2024, at the MMA Management Center Join us to delve deeper into the booming real estate sector

Ensuring Food Safety: Strengthening Ad Regulations for Consumer Protection

Prominent brands are under scrutiny for selling sugary infant food, chicken fed with antibiotics, and spices contaminated with harmful chemicals. Experts express concern about the lax administration of regulatory issues, which seriously impact consumer health. Food companies often mislabel packaged food to make consumers into believing they are healthy. Terms like "natural," "healthy," and " pure " are used to mislead and drive sales. Deceptive marketing practices contribute to India’s growing burden of diabetes and childhood obesity As India strives to become the world's next big manufacturing hub as part of its "China plus one " outreach to global investors, we must ensure that local manufacturers do not expose us to reputational risks globally

While the judiciary plays its part in protecting consumers, there is a need for broader public awareness to understand the truth about deceptive marketing. Regulation alone cannot achieve the desired impact;

consumer education is essential

Has the ongoing advertising war, in the guise of targeting consumers, become more purposeful and genuine, or is it reckless and surreal? Where should the industry, including the highly successful advertising sector in the country, draw the line, ensuring consequences that are palpable for all, starting with the consumer?

In this context, MMA is organizing a seminar on “Ad Wars – Making Competition Healthy” at the MMA Management Center. Eminent speakers, including the CEO of The Advertising Standards Council of India (ASCI), have accepted our invitation to share their

insights on this crucial issue relevant to our consumers

Please join us to watch it live

MMA has a line-up of exciting events planned for May and June 2024. Check out the calendar of events and mark your diary to ensure you don't miss out on these inspiring programmes

We always value your views, comments, and suggestions, so please don't hesitate to share them with us at mma@mmachennai org

Socio-economic inequality, climate change and cyber vulnerability are some of the challenges that we face today. Whether as a corporate you do something about these and act or you don't do anything about these Either way, your action or inaction is in full public view. Out of the world’s top 100 economies, only 31 are countries and 69 are businesses So, businesses must take more responsibility for these challenges than nations

Our current solutions will not solve the problems. We need different solutions. ESG is supposed to be the be-all and end-all of solving all problems Whereas in our research, we found the need of the hour is for businesses to do well by doing good. You can make billions of dollars of profit. We are not against profit. Make money by doing something about these challenges That is our call to the business leaders of the world.

According to the World Economic Forum, climate

The cry for a more inclusive form of capitalism is growing But, according to Mr Rajeev Peshawaria, CEO, Stewardship Asia Centre, the irony is we are using the same tools that caused the excesses of shareholder capitalism to drive responsible behaviour: incentives and regulations.

change alone represents $10 1 trillion of new business opportunities every year for the next 30 years and 395 million new jobs. When the polar ice cap is melting and creating havoc, it is also creating new agricultural opportunities under the ice Is it possible to drive superior shareholder growth by addressing these challenges of climate change, inequality and vulnerability?

Yes, it is possible and I want to give you some proof points Here is a CEO who during his 10 year tenure provided 290% return to shareholders. His company did it by creating a sustainability based business plan They exited highly profitable lines of business because they were harming the environment or the society and came up with environmentally and socially responsible products Initially, in the first two years, the share price of the company went down; profits went down and market share went down. 75% of his leadership team quit their jobs because they



There are many examples of startups that are today big giants and who started with this kind of thinking.

thought he was going to take the company down to zero. Yet, the board continued to support him. Then the magic happened They gave 290% return to shareholders. The company is Unilever and its CEO was Paul Polman.

Healthcare for All: Inspiration from a Broken Leg

The next is an example of a company that had 21,000% stock price appreciation since its IPO in 1992. They've been in the 14 most admired companies’ list for more than 21 years now They are in 77 countries and growing strong. They focus on the ‘S' the social

aspect of ESG They were the first employers in the world to provide full healthcare benefits even to part time workers. Till today, they are one of the largest employers of people with special abilities This is Starbucks.

Its founder and former CEO Howard Schultz is a son of very poor immigrants. His father was a temporary truck driver One day he broke his leg and came home He couldn't work for three months because he couldn’t drive with a broken leg. He had no money for medicines or food. Oftentimes, Howard Schultz had to go hungry and sleep without dinner because they needed to save money for daddy's medicines. At 17, he swore to himself that he would create a company that his father never had a chance to work for; where everybody is included and treated with respect and dignity irrespective of skin colour and economic situation. Hence, Starbucks became the first company in the world to provide full healthcare benefits, even to part time workers The rest, as they say, is history



Out of all these good stories of the Tatas and the Patagonias of the world, we also have some horrible stories. Volkswagen was involved in the dieselgate emission scandal.

Stakeholder is Our Purpose

This company is in business and growing profitably for over 155 years, while the average lifespan of a company, is only 18 years these days Their mission is to bring enhancements to the communities in which they serve. They are into steel, software, hospitality and every possible business 66% of their share capital is owned by the philanthropic trust It is ‘The Tata’ group Some startups feel that sustainability is for big companies. Jamshedji Tata said in the 1800s, "In a free enterprise, the community is not just another stakeholder in business, but is in fact, the very purpose of its existence." Before the first steel plant went up in Jamshedpur, hospitals went up. Community parks and schools were built He was giving money away in charity. He wasn't a billionaire at that time, but he knew it was the right thing to do for the business. There are many examples of startups that are today big giants and who started with this kind of thinking We researched 100 such companies and found something in common with them. They thought about the society and environment from day zero

A Green Transformation

30 years ago, Doi Tung mountain area in Thailand looked like a very lush green forest Then it was completely deforested It is at the mountain border with Myanmar and Lao, called the Golden Triangle. Till 30

years ago, the heavily armed militia was controlling this region and it was not under any government control There were only two professions: prostitution and opium production. Because of opium cultivation, all the deforestation had already taken place Anyone who did not succumb to one of these two professions was beaten up mercilessly and forced into either prostitution or drug trade There were no schools or hospitals nearby

If one felt sick, the only medicine was opium

One fine day, the Thai Princess Mother landed there in a helicopter and told her Mae Fah Lung Foundation to build a different future for its people She was already in her late 70s and was just a ceremonial head of state. Her foundation was not super rich. They raised money to change the present into a better future. Fast Forward 30 years Doi Tung is a beautiful lush green forest now, totally reforested Gone are prostitution and drug production. Those same impoverished villagers who were beaten up, now own at least five highly profitable businesses: single origin coffee, macadamia nuts, handicrafts, fabrics and tourism. They make readymade garments and use Italian designers. They sell to Moojimooji, IKEA and many other brands Many airports sell their products; they have hugely profitable community owned businesses. It is therefore possible to do well by doing good. But it takes a different kind of orientation and approach

The Darker Side

Out of all these good stories of the Tatas and the Patagonias of the world, we also have some horrible stories Volkswagen was involved in the dieselgate emission scandal. They were lying to the US government about the emissions in their cars. They were fined over $15 billion in costs for what they did in 2008 It was not the first time, but the third time, that Volkswagen did it.

 Andrew Fastow said, “We proved to the world that you can create the biggest financial scandal in corporate history without breaking a single law.”

You may have heard the story of Theranos, the unicorn in Wall Street that was going to change healthcare and make our lives better. Elizabeth Holmes, was projected as the next Steve Jobs She's serving a 12 year sentence now, because when it came to choosing between truth and fraud when the product was not working, she chose fraud.

The Spectrum of Companies & a Few Champions

Looking at the good and the bad stories, we can create a spectrum on environmental and social action by business On the left-hand side, we have the green washers and the purpose washers, the likes of Theranos and Volkswagen. Then you have a lot of companies and people who are blissfully ignorant about climate change, global warming and inequality For them, they don’t exist and even if they exist, it is not their problem Then you have the window dressers. As everybody's talking about sustainability these days, they put some statues and mannequins on the window and make them look very good, without any substance. There are lots of organizations in these categories. Then you have the box checkers or the box tickers As there are so many laws about sustainability, they do exactly what the law says and no more because we don't want to go to jail. Then, a few are true champions of environmental sustainability in business The key difference is the categories on the left are profiting from today's challenges, whereas the true champions are creating profitable solutions to today's challenges.

Moving to The Right

How do we move more organizations to the right and encourage them to take ownership? The commonality between Enron, Theranos and FTX is that besides the ethical issues, there was poor compliance, pure diligence and weak corporate governance. The standard response to such problems is that we bring in more regulations, more compliance and stronger governance to make sure something like these never happens. The boards tighten up with ten new policies and governments come up with ten new laws And yet, fraud never stops

I met a very interesting guy a few years ago. His name is Andrew Fastow. He was the last CFO of Enron. He was the guy who was doing all the balance sheet jugglery He came out of jail after six years while his colleagues spent 14 years in jail, because he became an approver. While in jail, he reflected on how somebody like him coming from a good family with good values and having gone to a good school and college became a white-collar criminal. He wanted to tell the world what not to do and how easy it is to fall into the well of greed He wanted to write a book and he approached me to write a book on him. I spent two hours with him just after he came back from jail. His stories were very interesting I created a proposal for the book and I sent it to my publishers in New York But my publisher advised me not to do it considering the amount of pain Enron inflicted and how because of this man, so many families around the world suffered So, we didn't publish the book.

Beer and Candy Analogy

But I learned a lot that day from the two hour conversation. Many people think that Enron was a failure of compliance. No, it wasn't. It was a culture

failure Andrew Fastow said, “We proved to the world that you can create the biggest financial scandal in corporate history without breaking a single law.” They did not technically break any law. They broke the principles behind the law, by finding loopholes Eventually they went to jail because the collective intent to defraud was proven. But on individual transactions, they could never prove that they did anything wrong.

Andrew was on the speaker circuit for a while when he came out of jail He would start his speeches holding two things in two hands. He would say, “I got both these things for the same deals in the same year. This is my CFO of the Year award for the most innovative deals in finance. I got it on January of 2001. This is my prison card, which I got on May of 2001 and both for the same deals ”

His seventeen-and-a-half-year-old son came to visit him three months into his jail sentence and asked him, "Daddy, I read all the court papers. You did nothing

wrong Why are you in jail?" He explained to his son thus: "Son, imagine you tell your mother that you want to go to a party, taking mom’s car. She agrees on the condition that you should not drink alcohol in the party. You promise her and go to the party You don’t drink beer but instead your friends give you a candy that has an equivalent of three beers of alcohol in it and you eat it Son, I am in jail, though I didn't drink alcohol I am in jail because I ate the candy ” The point is you can have as many regulations as you want. For every beer, there will be a candy. Smart people will find the loopholes

Failure to Focus on What Really Matters

We asked a bunch of board directors how they spend their time in board meetings It turned out that 60% of time is spent on regulatory compliance, risk management and financial performance. They said they did not spend enough time on sustainability, culture, strategic innovation, leadership development and talent

management These are the only competitive advantages for businesses today Boards all over the world are still not doing what they're supposed to do.

The good news is everybody's talking about sustainability these days The bad news is everybody is only talking about sustainability and not doing anything much. What they're doing is not yielding results. The G of ESG is supposed to save us from E and S challenges. Regulation is, undoubtedly, important But regulation sets the minimum standard of good behavior. What we need is innovation to find profitable and affordable solutions for today's problems You cannot legislate innovation in the court of law We need regulation to minimise harm. But that's not enough to save the planet. We need huge amounts of innovation to save the planet Regulation is reactive When the 2008 global financial crisis happened, all lawmakers of the world came together to tighten up the financial system. But what about the people who already lost their homes? Did they get any help? No

Flawed Measurements & Incentivisation

Then there is another management fad, which says if you want people to behave well, measure and incentivize them. What gets measured and incentivized gets done. Every book on management has this expression But ooveremphasis on measurement and incentives will create bad behavior

The latest fad is linking CEO bonuses with ESG markers. If they can improve their ESG scores, they will get a bigger bonus What do you think CEOs around the world are doing? They hire sustainability officers and teams who produce glossy sustainability reports to make the CEOs look good. Half the people in the sustainability team are communications and PR experts, not environmental or social scientists When you

overmeasure, people resort to greenwashing

Let me give you a funny example In basketball, the teams that win more often than lose do one thing better than the losing teams. They pass the ball very effectively But the NBA (National Basketball Association) which runs the pro basketball and which is billions of dollars’ worth of business in the US and the world, when they draft a pro, the data they look for is how much they scored and not how many effective passes they made. That's called the folly of rewarding A while hoping for B.

My former boss and mentor wrote 45 years ago, a six page article, warning us against over incentivization and overmeasurement. We keep doing the same thing again and again, hoping for a different result. We ignore the genius of Einstein who told us that doing so is the definition of insanity

Steward Leadership

We asked people in 25 countries, what motivates the guys who are the true champions of environment the Patagonia's of the world. Why do they do what they do? They do it because of genuine proactive leadership intent The top 100 companies that we studied are doing well by doing good, driving positive shareholder returns by addressing existential challenges of today and surviving for hundreds of years. What they have in common is a new form of leadership called Steward Leadership. The common definition of leadership is coaching, guiding and directing the people towards achieving common goals This is an outdated definition of leadership that doesn't help in the 21st century Leadership is not a title, nor a position. Leadership is the genuine desire and persistence to create a better future Steward leaders want to make at least a small difference to the biggest pain points of society

When we think of the word steward or stewardess what comes to our mind is somebody who serves you That's also an outdated definition of stewardship. They are stewards of planet earth and humanity. Steward leaders integrate the needs of stakeholders, society, future generations and the environment These people are hungry to make money, but they are taking it upon themselves to make money by addressing environmental and social concerns They have the genuine desire and persistence to create a better future for all stakeholders, the future generations and the environment Jamshedji Tata was a steward leader He took responsibility for Mother Earth and the society

3 Steps to Practice Steward Leadership

The first step is to incorporate four specific stewardship values into the company's value system: Interdependence; Long term view; Ownership mentality ; and Creative Resilience. Faber Castell, the German pencil maker, has 270 years of successful track record and they have been very profitable right from day one. They focussed on society first. They provided employee benefits like housing and insurance 14 years before such things became the law in Germany They believe in interdependence You must believe that your business is going to be very successful and long lasting, though there may be short term costs and implications. When you have ownership mentality, you want to be a steward of planet Earth and humanity. Making money in this way is not easy and that is why you need creative resilience You need to innovate You may fail eight out of 10 times, but never give up You need both creativity and resilience.

The Story of Netflix and United Airlines

Many companies articulate these ideas, but they are mere posters on the wall and they don't actually follow

them Netflix has a policy on travel and entertainment for employees They had a bound volume but decided to throw it away. The new policy is: “Act in Netflix's best interests.” The travel expenses, in fact, came down by 30%

The second example is that of United Airlines Five years ago, they had an overbooked flight. As per their policy, they can offer $400 to any passenger who is ready to give up their seat But on that day, there were no takers for the $400 offer The second rule said that if no one is ready to take the offer, pick someone in random. They picked a guy and he refused to give up citing his medical emergency condition Then they beat up the guy and dragged him in a bloody state out of the aircraft and that that video went viral. To top it all, when the news broke, the CEO defended his employees and said that they followed the company’s stated policy Instead of feeling compelled to follow a company policy, imagine, how the employees would have acted, if they were empowered to follow ‘company’s values!’ They could have offered more money or done something innovative, without hurting any passenger. But, sadly they were not empowered.

Step two is to articulate the purpose and the better future that you want to create The final step is that every decision the company makes henceforth must go through this lens. This is the simple management and leadership idea that all these champions follow We need no more regulation or rules We need to create a values-based revolution and remind people of human values, and then we will save the planet, not otherwise.

Governance uses the power of rules Steward leadership uses the power of purpose, values, and profit to save and to thrive. We suggest that ESG should be upgraded to ESL, where L stands for Leadership (Steward leadership) 

Per Capita GDP Doesn’t Reflect Reality

Mr M R Sivaraman

IAS (Retd), Former Revenue Secretary, Govt of India & Former Executive Director, IMF

Ihave dealt with government finance for several decades, both at the state and national levels, as well as at the international level Is it right or wrong to measure growth using GDP? In my view, it is both right and wrong. GDP is a process that continues over several years. For example, according to 'The Economist,' the 1959 GDP of the United Kingdom is still undergoing revision. The measurement of GDP, or rather its compilation, is an extraordinarily complex and difficult process The United Nations has a manual

The world over, economic growth is almost always measured in terms of GDP figures Simultaneously, a school of thought has emerged that the GDP way of measuring growth hides more than it says

for this purpose, prepared with contributions from almost all countries, including India The Director General of the CSO is always a member of that committee. They have a 2008 manual which is still being revised

The GDP, or gross domestic product, now includes services as well Many Western countries derive more from services than from goods. So, GDP encompasses both goods and services There has to be some measure of what is being produced in the country, and GDP serves that purpose. It was Sir William Petty, one of the ancient economists of the United Kingdom and a doctor, who started the concept of GDP in 1660 He estimated the UK's GDP at 40 million pounds Now it is 1 trillion pounds, showing significant growth and improvements over time.

It was Dadabhai Naoroji who first assessed India's income in 1876 by estimating agricultural income and adding a certain percentage to it. However, the technical process of compiling GDP was undertaken by Dr. VKRV

India's GDP is estimated at 310 lakh crores at the end of February 2024, according to a report. However, simply dividing this figure by the population to calculate per capita GDP doesn't provide meaningful insights.

Rao, the founder of the Delhi School of Economics His PhD thesis at Cambridge focused on the national income of British India in 1931-32. In the last several years, numerous refinements have been made to GDP. It comprises wages, interest, rent, and profits

Different Perspectives

From a production perspective, it represents the goods and services produced From an expenditure

viewpoint, it encompasses consumer spending and government investment GDP is not a precise estimate and continuously changes as new data emerges. Hence, the UN Committee on national income regularly revises it as they gather more information

In the digital age, many free services are provided, but it's unclear if they are included in GDP calculations, and if so, whether they are accurately accounted for. Consider services like those provided by the internet and WhatsApp. Sending a letter via courier may cost Rs 85, but using the internet incurs no cost. Determining the value addition in such cases is complex While one might argue it's worth Rs 85, it's not reflected in GDP

There's no accurate evaluation of the services rendered by the government to various agencies. Take defence, for example While the salaries paid to defence personnel are considered in GDP, it's challenging to evaluate the contribution of someone who dies on the battlefield. There are numerous other services provided by the government, such as constructing parks to improve the environment What about the services 

provided by housewives? They cook food and attend to various chores inside the house, yet their contributions are not typically valued in GDP calculations. Similarly, if you self-drive a car, you provide a value addition. However, if you employed a driver, you would have paid them a salary These are some of the serious deficiencies observed in GDP measurements.

Per Capita GDP Doesn’t Reflect Reality

India's GDP is estimated at 310 lakh crores at the end of February 2024, according to a report. However, simply dividing this figure by the population to calculate per capita GDP doesn't provide meaningful insights Per capita GDP fails to depict how the poor are living and does not reflect income distribution. This is a major flaw in GDP calculations. It does not illustrate how various income groups in the country benefit from the production processes within the system.

The French Government established the Commission on the Measurement of Economic Performance and Social Progress (CMEPSP) in 2008, commonly known as the Stiglitz-Sen-Fitoussi Commission. Members included Dr. A K Sen and Bina Agarwal from Delhi University Their report highlighted numerous deficiencies in using GDP as a measure They emphasized that GDP does not accurately reflect the welfare that people experience in society.

MPI Index and HDI Index

One of the most significant developments in recent times is the creation of the Multidimensional Poverty Index (MPI) NITI Aayog is also involved in this endeavour The Human Development Index (HDI) report, which was released very recently, classifies countries based on their HDI index. The global MPI utilises 10 indicators covering three key areas: health, education, and standard of living.

In terms of health, indicators include nutrition, child, and adolescent mortality rates Infant mortality has substantially decreased in India, with states like Tamil Nadu and Kerala achieving international standards However, many states still lag behind, a disparity not reflected in GDP figures

The education dimension of MPI encompasses years of schooling and school attendance, which vary significantly across India In Bihar, for instance, the average years of education range from 6 to 7 years, while in some cases it may reach up to 12 years. In contrast, in southern states, the average number of years of education for both men and women is around 12 to 14 years This disparity serves as a crucial measure of the welfare of the people, highlighting the need for a more nuanced understanding beyond GDP.

The standard of living dimension of the MPI includes indicators such as housing quality, household assets, access to basic amenities like sanitation, drinking water, and electricity, as well as the type of cooking fuel used These aspects of living standards are not captured by GDP. The MPI is managed by NITI Aayog, and they recently released a report indicating that only 11 28% of the population is below the poverty level However, this estimation is based on mathematical extrapolation rather than actual surveys. The data was derived from the National Family Health Survey, the fifth round, conducted in 2019-20 Some economists may object to this method and suggest conducting more direct surveys to obtain accurate poverty estimates.

Gross National Happiness

While India utilizes the Multidimensional Poverty Index (MPI), other countries have also developed alternative measures of well-being For instance, Bhutan

introduced the concept of Gross National Happiness (GNH), which considers factors beyond economic indicators. GNH includes per capita income, health and life expectancy, social support, freedom to make life choices, capability and trust in government, among others

The United Kingdom conducts a Personal Wellbeing Survey annually, which incorporates 59 indices to gauge the well-being of its citizens These initiatives demonstrate a broader recognition of the limitations of GDP as a sole measure of societal progress and the importance of considering multiple dimensions of wellbeing

Puzzling Conclusions

The conclusion that people in Afghanistan, Pakistan, Iran, and Somalia are happier than those in India is indeed puzzling, and the methodology behind such a claim remains unclear. Often, such assessments rely on subjective measures of well-being, which can be influenced by various cultural, social, and economic factors. One important dimension of well-being in society is social support networks. In Great Britain, over 8 to 10 adults feel they have people in their lives to rely on, in times of serious problems This aspect of wellbeing is not captured by GDP. Conversely, in societies like those in Scandinavia, issues such as loneliness and suicide rates can be influenced by weather conditions and other factors Again, these factors are not reflected in GDP measurements. In the United Kingdom, trust in the government remains at 65.9%, indicating a certain level of confidence in public institutions

Regarding life expectancy, India's figure, as per the Human Development Index, stands at around 67 years, but it has reportedly improved to 70 years.

The Organisation for Economic Cooperation and

Development (OECD) conducts surveys similar to those carried out by the British government, providing valuable insights into various dimensions of well-being in different societies. These surveys offer a more holistic view beyond economic indicators like GDP 

The economy is unable to realize its full potential

Mr Arun Kumar Retd Prof of Economics, JNU

International agencies support the notion that India is experiencing rapid growth, but they are not independent data-gathering bodies They rely on official data and consequently replicate errors present in our GDP data. The aggregate of economic activities generating income for citizens is referred to as national income Given the vast diversity of the economy, estimating it accurately is challenging. Moreover, the economy is undergoing rapid technological changes, further complicating the assessment Today's cars vastly differ from those of 20 years ago, just as typewriters differ from the computers we now use for typing.

Estimating national income involves various methods, one of which entails considering the production of goods and services within the economy Due to this economic diversity, GDP is segmented into different sectors, each further subdivided into

industries These sectors, namely primary, secondary, and tertiary, represent broad areas The primary sector involves natural resources, while the secondary sector encompasses activities built upon these resources, such as the transformation of sugarcane into sugar Finally, the tertiary sector handles the distribution of the entire production, including finance, trade, and other services. In essence, the primary, secondary, and tertiary sectors constitute one division, which is further delineated into nine major sectors.

Each major sector itself is diverse. Agriculture alone can involve up to 200 different crops, while mining encompasses a Consequently, w the contribution subtract deprec product, from w income. The dist

 Does GDP

measure the welfare

of

citizens? The distribution of income across different groups of people is not captured by GDP measures. The earnings of a poor person versus a rich person differ vastly.

income lies in the former representing activities within the country and the latter also encompassing earnings welfare of citizens? The different groups of people asures. The earnings of a erson differ vastly Hence,

GDP doesn't adequately represent the welfare of everybody; it's an average that doesn't account for everyone. Additionally, certain activities that enhance citizen welfare are not included in GDP calculations. Ordering food from outside increases GDP, but the same food cooked at home doesn't This discrepancy poses challenges in accurately assessing welfare.

Reliability of Data & Method

GDP is merely an estimate; it's essential to remember that we don't directly report our income or individual production. Instead, we have to estimate it. However, this estimation process faces challenges Firstly, the data may be inadequate Secondly, the method used to estimate based on that data must be carefully considered. If the data is insufficient or inappropriate, the method used must compensate adequately. In essence, the issue with GDP arises from both the inadequacy/inappropriateness of data, and the methods used to interpret it

To provide a further overview of the Indian situation, we receive two types of GDP data: annual GDP and quarterly GDP. Quarterly GDP relies on limited available data for the quarter, often involving rapidly changing data that must be processed quickly Conversely, annual data aggregates quarterly data and undergoes revision. This dichotomy in data collection methods adds another layer of complexity to accurately gauging the economy's performance

The problem that has emerged in the Indian economy since 2016-17, with the implementation of demonetization, is significant Such shocks not only impact the economy directly but also exacerbate issues with data collection and methodology. This raises questions about the accuracy of the current claimed rate of economic growth by the government

Multiple Shocks to Economy

Growing disparities pose challenges for GDP measurement. Presently, the pattern of growth in the Indian economy resembles a "K" shape, with the organized sector thriving while the unorganized sector declines, in my assessment. Since 2016-17, the economy has faced multiple shocks, including demonetization, the GST rollout, the NBFC crisis in 2018, and the 2020 lockdown. These shocks have disproportionately affected the unorganized sector, yet the damage remains unaccounted for in official data

Using organized sector data to measure the unorganized sector is flawed. This practice skews GDP data by approximating a declining sector with data from a growing sector Even in agriculture data, reliance on targets can lead to inaccuracies, as these targets are often not met. Additionally, out of 39 sub-sectors in the unorganized sector, 29 are measured using organized sector data, further distorting the picture Consequently, this flawed methodology results in an upward bias in GDP data, undermining its accuracy.

Take, for example, the impact of demonetization. Official data during the demonetization year of 201617 showed the highest GDP growth rate of over 8% in the decade from 2010 to 2020. However, this seemingly positive figure belies the reality of the situation From November 2016 onwards, until the end of 2016-17, the economy suffered significantly. Perishable goods such as fruits, vegetables, and flowers rotted in the fields, leading to substantial losses For instance, in Azadpur mandi of Delhi, the largest wholesale market, less than half of the usual quantity of fruits and vegetables arrived. These challenges indicate that the economy actually experienced a decline during 2016-17 However, due to methodological issues, the data reflected the highest growth of the decade.

Decline of Non‐Corporate Sector

From the first quarter of 2017-18, the growth rate plummeted rapidly, as shown in official data. If the unorganized sector data were included separately, the growth rate would likely have dropped even further Examining the recovery from the pandemic, we find a similar trend. While the rate of growth appears to have increased, data from the RBI for 2021-22 reveals a different story Corporate sales surged by 41%, with profits rising by 20%, despite minimal overall economic growth. This suggests that the growth of the corporate sector comes at the expense of the non-corporate sector. Essentially, the corporate sector has exerted dominance over the non-corporate sector, leading to increased pricing power and monopolistic tendencies

So, let's examine the official growth rate and its apparent slowdown, which warrants our attention. Prior

to the pandemic, the growth rate was already on a downward trajectory, reaching 3 1% in the quarter just before its onset. When we consider the various challenges, particularly stemming from inequality due to the decline in the unorganized sector, we find that the economy's growth rate has not been the touted 6 or 7%, but rather more likely to 2 to 3%. In essence, the Indian economy isn't the fastest-growing as officially claimed This discrepancy largely stems from the lack of accurate data on the unorganized sector, which is often approximated by the organized sector, an incorrect methodology

The economy's behaviour indicated a decline even before the pandemic. Post-pandemic, there have been fluctuations, with periods of rise and fall in quarterly terms However, the average rate of growth over the last decade or so is estimated to be around six and a half



Rough estimates from the World Inequality Report

indicate that the top 1% earns approximately 22%, while the bottom 50% earns only 13%.

percent. Evidence of the unorganized sector's decline is apparent in various industries such as FMCG, trade, pressure cookers, luggage, and leather goods Reports suggest a clear decline in the unorganized sector while the organized sector is on the rise. For instance, in the pressure cooker industry, the President of the Prestige Pressure Cooker industry notes a significant growth rate of 24% in the organized sector, while the unorganized sector is declining. Similar observations were made in the luggage and leather goods industries. Considering different scenarios, if the unorganized sector's growth rate is at 0%, the overall rate of growth would be around 3.72%. If the unorganized sector is declining at 5%, the rate would be around 2 17% However, if the decline in the unorganized sector is as steep as 10%, then the rate of growth would plummet to around 2.62%. These calculations assume that the organized sector's growth rate is accurately measured If there are errors in measuring the organized sector's growth, the situation could be even worse. Previous analyses suggest that the decline in the unorganized sector could be around 10%, resulting in a rate of growth closer to 1 to 2%, rather than the claimed 7 or 8%.

When considering the income and poverty situation in the unorganized sector, it's notable that individuals in this sector are being registered on the e-SHRAM portal. According to the Prime Minister, around 30 crore

people have registered, with 94% reporting earnings of less than 10,000 rupees per month Comparing this to the World Bank's poverty line of $2.15 per person per day, which translates to roughly 26,500 rupees per month for a family of five, it's evident that most families fall below this threshold Some argue that this data is in nominal dollars, and when converted to PPP terms, it amounts to around 9,500 rupees per month, which is still around the poverty line in the country Thus, a significant portion of the population is either near or below the poverty line set by the World Bank. While individuals may surpass the Indian poverty line, globally, they remain close to the poverty line

Three Inequalities

The hierarchy of inequality comprises consumption inequality, income inequality, and wealth inequality Recent consumption data suggests a decline in consumption inequality. However, income inequality remains a significant issue, as the incomes of the affluent far exceed their consumption, resulting in higher savings. Rough estimates from the World Inequality Report indicate that the top 1% earns approximately 22%, while the bottom 50% earns only 13% Notably, this data does not encompass black income generation, which, if included, would likely show even greater disparities, with the top 1% possibly earning around 40%, and the bottom 50% earning much less, around four or 5%.

Credit Suisse has provided some data on wealth, but it's important to note that this data solely relies on estimates from the formal economy, excluding the black economy. Consequently, if we were to factor in black income generation, wealth inequality would likely be even more pronounced than what is indicated by the Credit Suisse data Generally, wealth inequality surpasses income inequality, and income inequality

surpasses consumption inequality Therefore, it's crucial to concentrate on income inequality, as it significantly impacts GDP and growth.

Muddling the Unemployment Problem

This inequality manifests across various dimensions, including the disparity between capital and labour and between the organized and unorganized sectors Within the manufacturing sector, there exists differentiation between large enterprises and MSMEs (Micro, Small, and Medium Enterprises), further compounded by divisions into micro, small, and medium sectors To illustrate, the large sector comprises 6,000 firms, whereas the small and medium sectors encompass six lakh firms, with the micro sector consisting of six crore firms. This vast contrast underscores the challenges faced, particularly by micro and small enterprises, which comprise 99% of units and 97.5% of employment. Unfortunately, these sectors have been severely impacted, contributing to the worsening unemployment situation in the country

The micro and small sectors have indeed borne the brunt of economic challenges, worsening the unemployment crisis in the country Additionally, there exist various other divides contributing to the complexity of inequality. These include the rural-urban divide, the caste and community divides, regional disparities between North and South, and gender disparities Unfortunately, these multifaceted inequalities are not adequately reflected in GDP measurements.

The Monster: Black Economy

Over the years, the size of the black economy has grown significantly, reaching alarming proportions. For instance, estimates suggest that the black economy accounted for around 62% of the total economy in 2012-

 The micro and small sectors have indeed borne the brunt of economic challenges, worsening the unemployment crisis in the country.

13 This means that a substantial portion of economic activity remains unaccounted for in official GDP figures

The presence of a large black economy hampers the economy's true potential. It means that individuals are engaged in unproductive activities, effectively contributing nothing to overall output This "activity without productivity" phenomenon leads to inefficiencies in resource allocation and investment, preventing the economy from realizing its full potential Consequently, while GDP may capture the presence of multiple income streams, it fails to account for the lack of actual productive output associated with the black economy

I've written in a paper that due to the black economy, India has been experiencing a growth rate of around 5% since the mid-70s Consequently, today, the Indian economy could have reached $24 trillion, rather than its current $3.5 trillion size. It would have been roughly equivalent to the US economy's scale had the black economy not existed In essence, the black economy amplifies all the issues we discussed on inequality and growth.

Additionally, it's evident that we are unable to effectively address the black economy This is reflected in the stagnant direct tax-GDP ratio, which has remained between 5.5% and 6.2% over the past 15 years. The lack of change in this ratio implies that the black economy still holds significant sway

To conclude, GDP and poverty data provided are inaccurate Therefore, our growth is inequitable and highly skewed. The rising inequality is causing significant losses for the unorganized sectors, amounting to about 10 to 12 lakh crores annually postdemonetization, while the relief provided to them is only three to four lakh crores. Unless we address these inequalities, our growth trajectory will remain stunted and fail to accurately reflect the state of the economy Hence, the issue lies more on the demand side than the supply side. 

the past 10 years have grown It is a proxy of whether the country is improving or not The government has been doing a lot of capital expenditure. It has been doing it quite heavily and front-loading it. In the last 10 years, look at the number of airports, the railroads, and national highways They have all improved This is a way to facilitate growth in the coming years.

But the numbers show...

Dr Moumita Paul Economist, Deloitte

Iwould like to take a different view on GDP. The topic poses is a rhetorical question. Why do I say that? GDP has been the measure since 1870 in India, and there has been no other measure which has taken its place. There is not one indicator which has come close to substituting GDP as the measure of economic growth, and all countries use it The question we are trying to address is, how to make GDP growth more robust. Is it actually incorporating all that is happening in the economy?

The physical, social, and digital infrastructure in

In social expenditure, there are comments that we do not invest enough in education and health, and it will lower our capability to grow in the coming years, which is true. But we cannot go from zero to one directly. We have to go through the entire process. The government has been spending around 6 8% on social services, which includes education and health From the indicators that come from the National Institute of Health and Family Welfare studies, the gender parity index in higher education has improved The infant mortality rate, maternal mortality rate, labour force participation rate, and pucca housing have all gone up.

If you compare these numbers to those of a very developed country, they may not look very good, but for a developing country like us, this is improvement and development. The biggest change which we have seen in the last 10 years is the push on digitalization Now, we are getting a lot of high-frequency data which we can incorporate to understand what is happening to the economy. There has been a massive growth in the Jan Dhan accounts The rural and semi-urban beneficiaries are having a lot of Jan Dhan accounts

Aadhaar has been one of the path-breaking digitalisations which we have gone through. Look at the statistics of UPI transactions by volume, CoWIN, and the Digilocker The numbers show that UPI has saved the Indian economy approximately Rs 5.5 trillion between 2016 and June 2023. This is going to help us propel growth in the future We have made



In the fiscal deficit, of course, we are facing a problem. The pandemic threw us off the curve, but we are in line to attain our fiscal consolidation in the near future.

breakthroughs in FasTag, BharatNet, ONDC, and the capital market through digitalization The monetary benefits of technology are huge. By bringing down the settlement period to T+1 day, investors have saved Rs 35 billion annually These are numbers taken from reports and are not our calculations.

India's digital economy has grown almost 2.4 times and has generated 62.4 million jobs during this period. Employment has been an Achilles heel for us, but the digitalization of the economy is helping the ball roll. It has led to a lot of good macroeconomic numbers. Based on our current account balance in 2012-13, we were termed as the fragile five because our economic fundamentals were very weak. But now, the current account balance and our foreign exchange reserves have improved quite significantly

In the fiscal deficit, of course, we are facing a problem. The pandemic threw us off the curve, but we are in line to attain our fiscal consolidation in the near future In the banking sector, there is high improvement in the NPS FDI gross inflows into India have improved significantly in the past 10 years. This year has not been good for FDI inflows. But if you take a decadal comparison, the numbers have almost doubled because of something which we might be doing right; people

come and invest in us The trade basket is moving from the traditional basket to a high-value basket It means for the same amount of effort, you get a higher value. That means the GDP is also increasing at a higher rate.

We have seen in the past that inflation in India would be around 10%, but that has come down to 4% and 5%. Rural inflation is still at 5%. There are only five states as of now which are a little bit higher than 6%. If rural inflation is low, then that helps the rural economy to save some money They have got higher personal disposable income.

All these lead to a trickle-down effect. In 2021-22, people with income less than 1 25 lakhs were 38 million, which is just 12% of the population In the year 30-31, it is projected that they are likely to go to 6% of the population. In the middle-income bracket, which is people earning around 1 25 to 5 lakhs, they were 50% Now they will move to 38% So basically, the number of poor is shrinking, and the number of rich and ultra-rich is increasing. People are investing in the EV (electric vehicle) segments, across the low, middle, and highincome groups. They are conscious of the climate and they think beyond their purchasing power, for the betterment of the economy

The market size of preventive healthcare has gone up. People are moving from basic sustenance to one level up. There is a high correlation between GDP and HDI (Human Development Index) The top 10 countries ranked in HDI are mostly the Nordic countries and the European countries. We need to be rich to have a better HDI. Without being rich, we do not have a seat at the table So I think it is important to get rich first, and that is driven by some The entire population cannot become rich suddenly. It is the sum of some who become rich and then pull the others. 

There is a pressing need for collaboration with civil industries.

Lt Gen Karanbir Singh Brar General Officer Commanding, Dakshin Bharat Area

In the 1971 Indo-Pak war, on December 16, 1971, Pakistanis surrendered to the Indian army in a rare ceremony, and the task of overseeing the surrender was given to the division commanded by my grandfather I am very proud to be associated with it

Now, let me discuss a topic related to warfare, specifically focusing on our connection with the industry for technological advancement and future war

The author, a flight commander during the 1971 war, recounts in his book a tale little known to the outside world and sheds light on those personalities and decisions that helped win the war

fighting Collaboration with industries is essential During my previous tenure with DG Armoured Corps, I have been involved in numerous niche technology projects Currently, I am interacting with institutions such as IIT Madras, DRDO, and the Society of Indian Defence Manufacturers (SIDM), among others.

Firstly, we must all agree that we need strong armed forces to maintain peace Because the moment you're weak, you're likely to be attacked We can see examples of Afghanistan and Ukraine, which were attacked, but nobody attacks North Korea. You have to be strong if you are seeking global or regional power status, and everybody wants to have that If you are a superpower or a regional power, you can dictate things. The wellbeing of the country, its status, and economic might are directly related to power That's why we find the US and China fighting for superpower status. If India is to grow and become a developed nation by 2047, we need to be powerful

Any kind of preparedness for armed forces takes time Developing any capability requires the right ecosystems. In India, our defence ecosystem largely comprises the DRDO and defence PSUs. However, a significant amount of defence equipment and materials are imported While this arrangement may have sufficed in the '71 war, things have drastically changed now. Technology has become integral to warfare. It's not just about military fighting anymore; it can include cyberwar, economic warfare, sea blockades, piracy, attacks on financial institutions, or biological warfare like COVID, which required the entire nation's involvement in the fight This 'whole-of-nation' approach is necessary for both fighting and preparing for war.

Private Players In

Our ecosystem did not involve the private industry to a large extent in the past, but that is no longer the case. If we are to prepare for future warfare, private players, startups, academia, and research organizations

With this kind of ecosystem, anyone, from anywhere, can plan and strategize. Technology is readily available off the shelf.

must all be part of it There are many reasons for this The first and most important reason is that we must reduce our reliance on imports. Recent conflicts have shown that dependence on imports can severely limit our ability to effectively engage with our adversaries Therefore, it is essential to strive for self-reliance (Atma Nirbhar).

In the Ukraine war between Russia and the West, Russia is performing well because it is self-reliant Ukraine, on the other hand, depends on others for

everything The stock of Javelin missiles is depleted for the next 10 years as far as the West is concerned, and they also lack artillery round ammunition. In contrast, Russia has ramped up its capacity and will continue to sustain it Ukraine was, in any case, relying on the West The West made a miscalculation by assuming the war would be short and swift. That narrative is no longer true; a war can drag on. It's not up to you, but the opponent, who decides Therefore, you must be prepared for the worst.

To reduce imports, the private industry must step in. There's a significant amount of imported content that needs to be indigenized While the ordnance factories and DRDO are doing a commendable job, there is room for improvement in their capacity and efficiency. The private industry must participate in the manufacturing of spares for current equipment

Futuristic Warfare

Future warfare is evolving into another dimension Elon Musk, a private player, provides Starlink communication services. We also have private space companies capable of providing pinpoint targeting. Additionally, autonomous vehicles and FPV (First Person View) drones can be utilized for targeting purposes These advancements are not emerging from the traditional defence industry but mainly from private players, with some even developed by students In Ukraine, drones are being assembled in homes, demonstrating the changing landscape of warfare technology

With this kind of ecosystem, anyone, from anywhere, can plan and strategize. Technology is readily available off the shelf. Cyber warfare predominantly operates within the civilian domain because it can be initiated from any location by anyone Those in uniform

 To reduce imports, the private industry must step in. There's a significant amount of imported content that needs to be indigenized.

must recognize that future wars will necessitate the development of this ecosystem. Therefore, for the traditional equipment, we require manufacturing and enhanced capacity in addition to the ordnance factories, DPSUs, and BHEL. These entities are now collaborating with the private industry independently. They have realized that remaining isolated and attempting to secure all orders, while claiming that it will take time, is not effective anymore. Some level of accountability is also being enforced upon them.

Room for Innovation

Regarding the private industry, major players like Mahindra, L&T, and Bharat Forge have entered the scene However, there are also ample opportunities for MSMEs and startups. Previously, defence procurement policies were quite rigid. However, the Ministry of Defence has introduced IDEX (Innovation for Defence Excellence), which offers numerous initiatives for startups. Additionally, there are some R&D routes available as well.

We are also collaborating with IIT Research Park in Chennai, IISC Bangalore, and ISRO Warfare, once limited to land, air, and sea, has expanded into other domains: cyber, electromagnetics, and space. For instance, someone sitting in the US can remotely operate a drone

over Afghanistan and target an individual in Iran Such operations are only possible if the communication link for ISR (Intelligence, Surveillance, and Reconnaissance) is facilitated through satellites. Moreover, within the realm of satellites, numerous versions have emerged

With Drones, Much Ahead in Time

Therefore, there is a pressing need for collaboration with civil industries I initiated a swarm drone project in 2021 and signed the contract long before the Ukraine war and before drones gained widespread popularity.

In August 2021, almost three years ago, we conducted a trial of swarm drones in mountainous areas These drones communicated through artificial intelligence,

tasked with scanning a designated area Utilizing data from their library, they analysed whether there were tanks, artillery guns, or personnel present. Once a target was identified, Kamikaze or strike drones were deployed When a human operator is involved, it's termed as manned-unmanned teaming For instance, an officer on a tank may control the strike if he wishes to engage a target.

We undoubtedly possess the talent and capabilities

Numerous individuals are engaged in various endeavours. The only missing element is proper direction and guidance from end-users. It's now encouraging to see the right ecosystem emerging 

Leading a Mission Critical Assignment

Air Marshall Varthaman PVS AVSM VM VSM

Former Air Officer Commanding‐in‐Chief, Eastern Air Command, IAF

As a proud nation, we must not forget the steps that have contributed to our greatness. In just 13 days, our military facilitated the birth of a new nation and took 93,000 prisoners an unprecedented feat, unparalleled by any other country We not only created a nation but also handed it over to civil administration, and today, it thrives. This remarkable achievement stands as a testament to the Indian military's prowess. When we acknowledge the achievements of the Indian military, we honour the courage and determination displayed by countless soldiers and leaders in this war Among them is Squadron Leader Pushp Vaid.

I served 40 years in the Air Force, yet during that time, I had no knowledge of Pushp Vaid or the campaign he led I wasn't even aware of its significance in the collapse of the Pakistani army that ultimately led to their surrender. However, now I am enlightened because I've had the opportunity to meet him and learn about his contributions

He joined the Indian Air Force in 1963, shortly after the war with China in 1962. Recognizing the need for

 In just 13 days, our military facilitated the birth of a new nation and took 93,000 prisoners an unprecedented feat, unparalleled by any other country.

helicopters in the Himalayas and a shortage of helicopter pilots, the Indian Air Force offered him the opportunity to specialize in helicopters while he was still a cadet, before he became an officer Without hesitation, he volunteered and was sent to England to learn to fly helicopters. Upon his return, he served as a helicopter pilot and played a pivotal role in winning the 1971 war

He was a young officer with about 10 years of service when he became the flight commander of a unit called 110 Helicopter Unit. This unit was tasked with carrying out highly strategic operations He led a group of young officers, none older than 25 years, and together they accomplished remarkable feats, guided by his bravery and courage.

A Global Career

Following the war, he made the decision to retire from the Air Force and migrate to England. There, he engaged in a variety of helicopter operations, including crop spraying, before joining the British Airways Helicopter Division. He flew extensively across the country and worldwide, including places like Brunei, which I had never heard of Throughout his career, he accumulated 7500 hours of helicopter flying, retiring at the age of 65 after many years of distinguished service I'm certain there isn't a single helicopter pilot in this country today with 7500 hours of flying time

It's an incredible achievement In the Indian Air Force, when we acknowledge someone with such extensive flight hours, we also inquire whether they've maintained an accident-free record.

Unfortunately, he did have an accident He was the captain of a Chinook helicopter, which you may have seen as the largest military helicopter in the Indian Air Force today. He flew it over the North Sea when the helicopter's bearing collapsed, causing it to crash into the sea. There were 45 passengers onboard, and tragically, all but one perished, including his crew. Miraculously, he and one passenger survived It's considered one of the most catastrophic helicopter accidents in the world, and I encourage you to watch the videos and hear firsthand what happened. He's an incredibly experienced pilot who has endured disasters, fought in wars, and survived accidents to tell his story

If there was no Gen Sagat Singh, there would be no Bangladesh.

Author

Iserved in the Air Force for 11 years and was fortunate to be the flight commander of the 110 Helicopter Unit. As the ops manager, I was responsible for running the show I'll share the story of

what we did during the Bangladesh War

Firstly, I want to talk about General Sagat Singh In my view and experience, he was the best general in the world. Wherever he went, he emerged victorious. We were fortunate to be attached to him He was the GOC of IV Corps He had the wisdom to request the Indian Air Force and the Indian Army to attach a helicopter unit to the army. So, the 110 Helicopter Unit was attached to IV Corps The only difference between us and the army was our blue uniform overalls, while they wore green. Everything else was the same.

The war started on the third of December 1971. Our Mi4 helicopter looked a young and handsome aircraft It had clamshell doors that we could remove. With these doors off, the back of the helicopter had a large opening, allowing passengers to jump in and out quickly, and we could carry larger loads We removed the seats, safety belts, ropes, and nets. Throughout the war, we loaded luggage first, then instructed passengers to sit on top The pilots remained in the cockpit The flight engineer, positioned near the ladder, communicated with passengers using only a headset. He would jump out first upon landing to ensure passenger safety near the tail rotor, and he was the last to board.

During the war, we flew continuously, 24/7, with 14 helicopters. Our cockpit was very basic, equipped only with a magnetic compass and a gyro compass for navigation. We had no autopilot, relying solely on manual flying, and our helicopters were powered by piston engines and not jet engines Despite these challenges, we flew without a single accident throughout the war, accumulating a total of 3,300 hours of flight time on these helicopters. I was the oldest at 30 years. The youngest was just 19 The rest of the pilots ranged from 22 to 24 years old As tensions escalated in March

Squadron Leader Pushp Vaid

and April, we knew war was imminent due to Mujibur Rahman's election victory and subsequent actions by West Pakistan. General Tikka and General Niyazi were sent to East Pakistan to suppress the independence movement, resulting in widespread violence, including the killing of over a million Bengalis, widespread rape, and the displacement of millions of refugees to India.

War Thrust Upon India

After the Indian government's unsuccessful attempts to seek assistance from various international entities such as the UN, Americans, and the British, with no country willing to help except for the Russians, Prime Minister Indira Gandhi instructed General Manekshaw to prepare for war. General Manekshaw wisely advised against initiating war during the monsoon season Instead, he recommended waiting until after the monsoons, a suggestion that the government of India accepted. This delay provided us with valuable time to prepare for the war

As preparations for war commenced, we, the helicopter unit, began practicing low-level flying, conducting extensive training, especially night flying sessions, and ensuring that everyone was proficient in night operations. By the time December arrived, we were fully prepared for war. In total, we had 12 helicopters at our disposal

The Diary Jottings

I maintained a diary throughout the entire two weeks of operations, meticulously recording each day's events, including the names of all pilots, helicopter details, departure and arrival times, and mission destinations. Every pilot knew their duties for the following day, and we always had two designated duty pilots responsible for gathering information and coordinating tasks. Our primary focus was casualty

 Right in the beginning, Indian Air Force came and attacked the hell out of the Dakha airport. So the Dhaka airport became non‐functional within three or four days. The Pakistan Air Force was grounded completely.

evacuation, with three or four helicopters constantly on standby for this purpose While we were engaged in casualty evacuations, we also transported arms, ammunition, and troops as required by the army.

The remaining helicopters were dedicated to supply missions, ferrying troops and equipment to various locations. Realizing the historical significance of my diary, I recently donated it to a museum dedicated to the events of 1971 Additionally, I handed over a file containing detailed records of our daily activities from the third to the sixteenth of December to the USI museum This will ensure that these valuable records would be preserved and accessible for future generations.

Lack of Invite Turns a Blessing

If there was no Gen Sagat Singh, there would be no Bangladesh. It was just he and he alone who had the vision of going to Dhaka. No other general had decided to go to Dhaka General Manekshaw, General Aurora, General Jacob and everybody had decided they would capture a few cities as they went along. That was the

instruction given to all the Corps General Sagat Singh was told just to look after the Tripura area and make sure Pakistanis did not come to the Indian side. Sagat Singh said, “Yes sir.” Of course he kept his own ideas for himself When the war meetings were going on in Calcutta, the senior officers were invited to Calcutta and they went to Fort William to plan the war. General Sagat Singh was never invited because he only had a defensive role That however proved a blessing

Whatever they were planning in Fort William, CIA, the Chinese intelligence and the Pakistani intelligence were picking it up Before the Indian Army even came to know what they were planning, all Pakistanis already knew. As General Sagat Singh was never invited, nobody knew whatever he had in mind. In June or July of 71, he went to The Survey of India in Dehradun and got maps made for East Pakistan He was the only general who had the maps which the Britishers had left behind after the partition.

Training the Locals

Another general was given a job to train the Bengalis who had left Pakistan Air Force including the technicians and come to India Some of them were given training on the helicopter, so they could fight from the air, supporting the Mukti Bahinis who were fighting on the ground After the 71 war, East Pakistan was liberated and Bangladesh came into being

When the war started on third of December, we were told to disperse to Kumbhirgram which is quite near the border We were within the range of Pakistan Airforce and they could have come and attacked us But they only had one Squadron and they were at Dhaka, just monitoring the Dhaka area. They were helping the Pak army wherever they were required, but there were not many aircrafts Right in the beginning, Indian Air

Force came and attacked the hell out of the Dakha airport So the Dhaka airport became non-functional within three or four days. The Pakistan Air Force was grounded completely.

When the war started, we loaded the helicopters with guns and rockets and these were the first ones that went to Chittagong and another place in the East Pakistan. We were the first to blow up a fuel tank, after which the Indian Air Force got involved Our army had started moving in from east and west From October onwards, we were already moving in slowly into East Pakistan.

Mission Sylhet

We had 12 helicopters and in the first few days, all we did was casualty evacuation, supply of arms and ammunition, and then carrying out communication flights for generals and brigadiers or whoever wanted to go to different stations. We picked up 4 or 5 gurkhas and carried them to Sylhet. Their task was to block the Pakistan army movement While flying, we were just outside the range of small arm firing by the Pakistanis. When we flew the second time, the bullets had increased and hundreds of bullets were coming towards us By the time we went the third time, the number was huge We could see the bullets coming. But they never reached us. An odd bullet would reach us and make a hole in the helicopter but it didn't affect the flying or injure anybody So we carried on flying

Our engineers started working on the servicing of the helicopter and got them prepared for the next operation In the meantime, our troops had spread out and started blocking the roads so that none of the Pakistanis could go out. We were literally working 24/7 and when we got a break, the pilots were asked to sleep. At 11 o'clock, I was woken up and asked to meet the

Captain He said, “We have decided to send one helicopter If it goes and comes back, then we'll send the rest. Get one crew ready.” I said ‘I'll go myself.’ I came to the crew room where everybody was sleeping. I needed a volunteer to come with me Every one of those 30 pilots put their hands up. They should have been all scared. But everybody was high on josh.

Spotting the Fire

At midnight, we got airborne. I knew that helipad in daytime. I knew there was a river and a bridge. That was in daytime and night time, it's a different story But one of our liaison officers on the ground came on radio and lighted up a fire, so I could land safely. Despite the hundreds of bullets coming at us, we landed and dropped the passengers and we got up in less than a minute There were many bullet holes on the helicopter We flew continuously, one after the other and delivered 900 soldiers. We delivered the loads and artillery guns.

On the 17th of December, I think, two brigades of Pakistan Army surrendered to one of our battalions General Sagat Singh’s original plan was to go to Dhaka by boat or by road, crossing the river Magna. Pakistanis realised this and blew up a bridge over Magna River Now after seeing what we did at Sylhet and how efficiently we did, without any hiccups, he knew the best way to get to Dhaka was by helicopters During our sorties, one pilot got injured on his shoulder The copilot took over very quickly. General Sagat Singh travelling to Dhaka in one of the helicopters saw one bullet just scraping past his forehead But nothing injured me

No to Ceasefire

On the whole, we did 518 sorties and recorded 450 hours of flying The staff at Agartala Airport, the refueling staff and the air traffic controllers were all

wonderful, working 24/7 On the 15th of December, we came to know that a ceasefire would take place But that would put us in a disadvantage, having made all the gains. Everybody was very happy and relaxing in Agartala General Sagat Singh wanted to be in Dhaka before people woke up, before the Americans and Britishers woke up, so he could stop the ceasefire. His prophecy had come true. India could force Pakistan to surrender Under the Geneva convention, we took the 93,000 surrendered soldiers.

For the surrender ceremony, I had to take a bunch of reporters to cover the event. But I had 25 pilots and engineers with me I gathered them and said, “Listen, five each, get into the helicopters first, before I load up the reporters.” I did manage to smuggle 25 of my pilots and engineers, because we didn't want any of our pilots or engineers to miss the once-in-a-lifetime surrender ceremony. We took all the reporters too and the helicopters were loaded up like hell, right to the brim. They were all standing and no place to sit There was no seatbelt

We didn't write anybody's name. Each helicopter had probably 30 people and we reached there just before four o'clock Everybody wanted to shake hands Everyone gave us hugs and all, just like in the second world war movies. Even after those celebrations, our helicopters kept going to Bangladesh for six months till May I was there myself for six weeks This gentleman General Sagat Singh became de facto military governor of East Pakistan or Bangladesh. He invited all the Army, Navy, Air Force and the police to come under him and told them, “Go back to work and ensure law and order is maintained. Come to us for any help.” He made sure that law and order was maintained, till the Bangladesh government arrived back from Calcutta He handed over the government to them in March 

Sharanya: I work in the corporate sector for a supply chain company, with a presence in about 40 countries. As a result, I often find myself collaborating across time zones and with individuals from diverse backgrounds. What strikes me is the unity among women, regardless of career level, life stage, or nationality. There's a palpable sisterhood in our shared commitment to mutual support, which forms the cornerstone of collective success. Now, I'd like to turn to Aparna and ask her to share her journey and what "winning together" means to her.

Aparna Popat: I began playing badminton at the age of eight, purely out of love for the sport; there were no aspirations of becoming a champion at that time My journey took off from there, and I participated in my first national competition at the age of 11, retiring at 28 after two decades of competitive badminton

Throughout my career, the concept of winning has been ever-present, as is natural in sports where victories and defeats go hand in hand. Fortunately, I experienced considerable success from the very beginning However, upon reflection, I realize that no victory is solely mine to claim. In reality, no one achieves anything in isolation.

Madras Management Association conducted its Women Managers' Convention 2024 on 16th March at MMA Management Centre, Chennai In the session on the theme, ‘Winning Together,’ Ms. Sharanya Modi, Global Head of HR at EFL was in conversation with Ms Aparna Popat, a two‐time Olympian in Badminton.

According to me, there are three ways of winning together. The first is through teamwork, where each member contributes their skills and efforts towards a common goal, resulting in collective triumph The second form of winning involves using individual success to give back to society. For instance, if you're serving in the defence forces and protecting others, your victory is not just yours; it benefits the community as a whole. The third type of victory occurs when you win, numerous people feel as if they have won. Examples include a player winning an Olympic medal or the success of a national space mission like Chandrayaan-3. Ultimately, such achievements represent victories for the entire community, nation, and even the world

They say when you go alone, you go fast. But when you go together, you go far. That's where mentoring and coaching come in. The more people that help you, the faster and farther you will go. How much importance do you place on your support system compared to your own efforts, such as discipline and perseverance?

The best example I can provide of winning together and being mentored was at the Commonwealth Games in 1998. It marked my debut in a multi-sport event representing India Being the youngest member of the team, and with no Indian woman having won a singles medal yet, the stakes were high. We went into the Games with eight members on both the men's and women's teams Prior to the start of the games, we underwent a rigorous training camp together, fostering a strong team spirit. As the tournament unfolded, the men's team performed admirably, securing a silver medal Meanwhile, the women's team earned a bronze In the individual events, Gopi Chand clinched a bronze medal, and I went on to secure a silver. This marked India's first-ever medal in women's singles at the Commonwealth Games

Looking back, in the semifinals, I found myself trailing in the third game, just one point away from elimination At that critical juncture, my entire team, initially seated on chairs, moved to the green court mat,

cheering me on crazily. Their unwavering support and encouragement ignited a fire within me. I thought to myself, “If they believe in me, who am I to doubt my abilities?” That propelled me into what they call ‘the zone.’ Fuelled by their belief, I fought back, securing each point until I secured my place in the final.

Though I ultimately lost in the final and earned a silver, it was during that moment I truly realized the significance of winning together. As we returned from the tournament, each member of the team proudly adorned a medal around their necks Reflecting on that moment still evokes strong emotions in me

Experiencing such collective success, where all 16 players returned with medals, was an extraordinary privilege

How do you navigate through setbacks and failures? What advice would you offer to our young leaders to safeguard their mental well-being?

Each individual's circumstances are unique, and mental health is something within our control to some extent. While there are days when things may not go as planned, I believe that our mindset plays a crucial role in shaping our experiences From my personal journey, I've learned that finding purpose and joy in what you do is essential. With a firm grasp on your purpose, you can weather the ups and downs and find inner peace It's an internal journey Of course, having a supportive network is also vital.

For me, the passion for sports ignited at a very young age Even at three or four years old, I was somersaulting and doing cartwheels, knowing that I wanted to pursue sports. I discovered my purpose early on, but for some, it may come later in life. The key is to keep exploring different avenues until you find that sense of peace and balance

Do you perceive any specific challenges or obstacles that women, whether in sports or other fields, encounter compared to men?

During my playing days, the selection process for the Indian team was biased towards men, with one women's singles player selected alongside four men's singles players This placed immense pressure on the sole woman player to secure her spot. If selected, she would enjoy 12 months of international badminton; otherwise, she would spend a year in India I viewed this disparity as a challenge and used it as motivation to strive for excellence. From winning titles in under12 nationals to seniors, I held the No 1 position for 16 years out of 17, driven by the fear of not being able to compete if I didn't maintain that ranking. Challenges can serve as powerful motivators for improvement.

In broader society, certain expectations are placed on women, particularly in sports We're expected to be

well-behaved, non-aggressive, polite, and respectful Yet, when we step onto the court, we're criticized for lacking killer instincts. Even comments about our physical appearance, like losing weight, can be judged. For instance, when I shed pounds, my mom would remark, “You look frail,” despite my assertion that I was fit, not frail.

The notion that understanding a woman's mind is akin to managing a browser with 2500 tabs open simultaneously rings true Prioritization becomes crucial. Despite our best efforts, guilt often accompanies us. Balancing work and personal life and finding the equilibrium are important

Indra Nooyi often talks about the challenge of the biological clock and the professional clock coinciding, where your children require your attention at the same time as you ' re receiving a significant promotion. How does this resonate with your experience?

In sports, the career trajectory is quite different from other professions. It has a notably short shelf life, and as you age, adapting your game to the changes in your body becomes increasingly challenging. While youth emphasizes physicality, maturity shifts the focus to strategy and experience, all while maintaining peak performance This presents a unique challenge

Moreover, sports is a highly public domain where victories and defeats are both visible to all. There's no hiding from the spotlight Unlike many other professions where you steadily progress and climb the ladder, in sports, your career often ends abruptly with retirement. It's a hard stop, and you're left wondering, what's next? Even achievements like being an Olympian don't necessarily translate into job qualifications Even roles directly related to sports, such as coaching, often require starting from scratch in a new career path. It's like embarking on a second career from ground zero,

which can be incredibly daunting

I often ponder whether I should have pursued more academic degrees, but when I reflect on my journey, I realize that I found the greatest joy and fulfilment on the badminton court It's where I truly felt at home

Every achiever in any field tends to have certain nonnegotiables. For example, for someone in finance, integrity might be non-negotiable. Personally, I prioritize courage over comfort. While it may be easier to decline an uncomfortable business trip, I choose courage over comfort. What are your non-negotiables?

As a parent to a 10-year-old daughter, I believe in passing on our values and experiences to our children. For me, three principles are paramount. Firstly, approach everything with the right spirit and strive for

excellence, always aiming to be the best version of yourself Secondly, surround yourself with the right people; those who uplift and support you on your journey. And thirdly, always uphold integrity and ethics in everything you do These three principles are equally indispensable to me

If you encounter challenges, meet them head-on and give them a playful wink. Instead of shrinking in the face of adversity, strive to expand and grow

Empower yourself, take ownership and responsibility, but above all, have the courage to embrace discomfort. As a woman juggling multiple roles, discomfort may often be your companion, but it's something to be proud of Wear your struggles like badges of honour and keep moving forward. 

Bharathi Baskar: I am going to cover three key aspects in my talk: firstly, embracing a growth mindset; secondly, overcoming imposter syndrome; and thirdly, having career goals beyond job objectives.

On the eve of Women's Day, some people forwarded me a picture of a woman with eight hands, each carrying a feeding bottle, a laptop, a ladle, and so on It had the caption 'Superwoman.' The fact is, I have only two hands, and I can only do what I can. I am first a human being; I also happen to be a woman I can make mistakes Allow me to fall down sometimes so that I can get up and move on. But the moment you call me a superwoman, anxiety fills my mind that my house cannot have any cockroaches or my husband’s shirt collar cannot have any stains

I want to sit back, relax, and enjoy, telling myself that I'll do things. I have my own maternal instinct. I'll try to do everything as much as possible But I'm not going to be perfect Don't call me superhuman, because

The Women Managers' Convention 2024 had session on the theme, ‘Like a Boss.’ The session saw a lively interaction between Ms. Bharathi Baskar, Motivational Speaker and Ms. Ekta Kumar, Columnist & Artist

I'm not Don't call me super wife because I'm not going to be doing everything in the house; my husband has to share. Don't call me super mom, because it's not solely my responsibility to make my work the best in life or in the class I try But allow me to fail

Growth Mindset: The Story of Annalakshmi

We must embrace a growth mindset At least 10 or 15 men or women have been my mentors I had the privilege of working with Ajay Banga on his team in Chennai before he moved to the US. While I was not directly in his reporting line, we were part of the same organization.

Now, let me tell you about an unusual character. It was the period just after Covid when we were all returning to work I live in Gopalapuram on a street called ‘Avvai Shanmugam Salai’ in Chennai There, a woman named ‘Annalakshmi’ sets up her makeshift idli shop very close to my house. She arrives every day at about 7:30 am, prepares and serves idlis, and finishes

around 9:30 am. This is her routine. She arrives in a vehicle attached to a cycle with four wheels, pedalling it herself and bringing her physically challenged husband along As soon as she arrives, she starts making idlis, typically 25 to 30 in each batch, made on a large plate. She makes it very clear who is the boss of the shop, commanding her husband to serve chutney and sambar to the customers

Her customers start coming and apart from them, about ten or fifteen men stand near her. She tells each one of them, “You owe me 117 rupees, you owe me 210 rupees and you owe me 67 rupees 50 paisa Unless you give it to me, I'm not going to give you idlis today. So run away or I’ll throw hot water on you.” It seems that they are her customers who are not able to pay, for whatever reasons. Seeing her threatening them, we get scared.

She gets busy with the customers who pay her. But the men who are threatened by her do not move an inch and they stand their ground. She makes the last batch

of idlis for her Now she calls the men who are standing there and serves them 4, 5 or 6 idlis, knowing well how much each one will eat. She now adds the cost of idlis served on the day to their already pending dues and tells them, “Tomorrow, if you don’t pay, I will throw hot water on you.” She serves her husband and whatever is left after all this, she eats for herself Then she lifts her physically challenged husband and places him in the vehicle and starts pedalling to her home. I have seen this happen every day and though she threatens, she never throws hot water on anyone What struck me in this story is the caption written on her vehicle, that says, “Owner: Annalakshmi.’

Lessons from Annalakshmi

There are numerous lessons I gleaned from her story. She unabashedly asserts herself as the boss of her establishment. Every day, as she passes by my house, if she spots me, she doesn't request a selfie or mention seeing me on ‘Sun TV ’ Instead, aware of my banking background, she calls out, “Please help me get

 Having job goals is crucial for personal and professional growth. It's essential to connect these goals with your inner calling or overarching career path.

a loan from your bank so I can expand my business.” Regrettably, my bank couldn't accommodate her profile, though we attempted to assist in any way possible Still, she persisted in asking. Annalakshmi, to me, embodies a growth mindset. Running a street idli shop in Chennai is no easy feat, yet she adeptly manages it and asserts control over her domain She has a knack for mental math and accurately tracks how much each customer owes her. Yet, she willingly provides idlis to certain customers daily, fully aware they may never repay her She does so as part of her societal responsibility. While I've drawn inspiration from the stories of Indra Nooyi and Sheryl Sandberg, Annalakshmi has also imparted valuable lessons to me

Imposter Syndrome

While it's commonly asserted that women suffer from imposter syndrome, I hold a different perspective I believe organizations employ this term to withhold from women what they rightfully deserve. I don't think any woman truly doubts her worthiness of the position she has diligently worked to achieve Over the past eighteen months since I departed from my bank, I've been traveling to tier 2 and tier 3 cities, even villages, engaging with school and college students I've found that everyone, regardless of gender, harbours ambitions and a willingness to go the extra mile. They aspire to

hold positions of power and significance, rejecting the submissive roles traditionally assigned to women by their mothers and grandmothers. The desire for progress is universal.

Imposter syndrome is a label imposed upon women. When a woman hesitates to accept an offer, we should delve deeper to uncover any organizational shortcomings. Questions should be raised: ‘Why was a talented woman, who was passionately driving a project, suddenly reassigned? Could there be instances of harassment?’ Organizations must address their biases rather than placing the burden on women to adapt. They need to provide support to women during challenging stages in their lives

Career Goals Beyond Job Goals

Having job goals is crucial for personal and professional growth It's essential to connect these goals with your inner calling or overarching career path. I realigned my job goals to harmonize with my broader career trajectory Becoming a mentor became one of my job goals, which seamlessly integrated with my career aspirations. While job goals hold significance, they can lead to frustration if they diverge from your career objectives Unlike athletes who retire early, many of us may feel internally retired during a midlife crisis if our work doesn't align with our passions. Finding fulfilment in your work translates to enjoying both your job and your career

Ekta Kumar: We all harbour stereotypes ingrained in our minds, rooted in years of social and cultural conditioning, making them challenging to shake off. Take, for instance, the title of this session: Hashtag Like a Boss. Upon first glance, despite my extensive work on gender issues, I must confess, my

 If you had to change just one thing about yourself to empower yourself as a leader, what would it be? It doesn't have to be monumental; it could be a small, personal endeavour or experiment.

immediate association with the word ‘Boss’ was a man. It's a shameful admission, but upon this realization, I immediately questioned myself, “What's wrong with you? You're about to deliver a speech on gender equality.” Perhaps, it's not entirely my fault. Look around the corporate and political spheres, and you'll find predominantly male bosses. They dominate various arenas, perpetuating this mindset. We must strive to change this narrative and alter mindsets

So, how do we go about changing mindsets? We can

implement policy reforms, enhance training programs, raise awareness, provide education, and start at the grassroots level. If you had to change just one thing about yourself to empower yourself as a leader, what would it be? It doesn't have to be monumental; it could be a small, personal endeavour or experiment. But ask yourself, “What is holding me back?” We must seize positions of power, taking the lead to proclaim that we too will be bosses.

In the political realm, only 11 or 12% are women, yet they make policy decisions affecting 50% of the population A similar scenario exists in the corporate world. During times of war, it's often women and children who suffer the most, yet less than 3% of women sit at the negotiating table in the UN In agriculture, where 75% of labourers are women, how many actually own the land they toil on? Opportunities are scarce, but the need is urgent. It's incumbent upon us, as women, to embrace ambition and assertiveness Merely complaining about equality isn't enough We must introspect: What is the one thing holding me back? What tool do I need to effect change? It's imperative for all of us to step up and claim our seat at the table 