And for a Friday after the post budget speech at CII function by PM, some thoughts….. some musings…..
During my four decades of corporate life, I had the privilege of being an office bearer in India’s top four Industry Associations. My ranking is based on member companies, professionalism, ethics and governance. The ranking is IGCC (Indo German Chamber), CII (Confederation of Indian Industry), BCCI (Bombay Chamber of Commerce and Industry) and FICCI (Federation of Chambers and Commerce). All these are national associations of India’s large companies and many companies are common members in two or more associations. It is a welcome relief for a third time PM to refer to the Captains of Industry as “Wealth Creators” and to be the primary driving force of development of our country. Most politicians shy away from publicly indulging and recognising the role of India’s Corporate Sector in enhancing the economic growth and development of managerial and human skills; competencies recogonised all over the world.
Based on my recent trips to Japan and Germany, there is a clear and distinctive difference, in which the developed world now acknowledges India emerging to become the third largest economy within the next three years. One of the major impediments as a survey presented in Munich re-emphasised, was Corruption. Undoubtedly at the federal level there is a sea change and ease of doing business is clearly manifested. But as you move into the states, the Districts and the Panchayats, it gets murkier and murkier. Ofcourse the argument advanced is; Indian democracy needs funding and there is no sufficient funding mechanism. This is “the elephant in the room” and Corporate Professionals need protection and clear guidelines. Large Indian and Foreign Companies have the clout and networking capabilities to resist and manage. But for MSME and smaller businesses, it’s very difficult. Needs serious introspection.
Time has come for India’s top Professionals to recognise and ensure their managerial roles are exercised with the fullest adherence at all times to the highest standards of Governance, the ethical way, the legal way, the SEEGOS way.