a) Mr. G K Vasan, Union Minister of Shipping, Government of India stated that in the 12th Plan the Government envisaged an investment of Rs 50 lakh crore and it was expected that 50% of that would come from the private sector.
a) Mr B. Muthuraman, President CII, said there was greater market and economic of stability and continuity in the entire 20th century. But the 21st century was totally different and there was a new world of imbalance and volatility because of increasingly costly resources, shift of power from the Western world to the emerging economies like China and India, the currency crises, increasing focus on national and regional economies and rising amount of protectionism.
c) Mr T T Ashok, Chairman CII, Southern Region, welcomed the gathering and said about the ‘new normal’ scenario now in a highly volatile world. That is why, CII along with The Boston Consulting Group as our knowledge Partner, have worked on “Thriving in a Volatile World” as the theme for this year's conference, he said.
d) Mr Sachin Nandgaonkar, Partner and Director, The Boston Consulting Group (BCG) said the CII-BCG report was centered around the increasing volatility and uncertainty of a less predictable world scenario now. The report included BCG’s perspective of the current situation, the outcome of conversations with multi-sectoral corporate leaders, their analysis, and proposals for a self assessment to make the report applicable to companies and think of their own action points.
e) Mr G V Sanjay Reddy, Deputy Chairman, CII Southern Region and Vice Chairman GVK Industries Ltd said, his company being in infrastructure business was very much open to market uncertainties. It was through entering international markets by investing in Australia and Indonesia, that GVK Industries has geared itself up for the future, he said.
f) Dr Arindam Bhattacharya, Senior Partner and Managing Director, BCG, said there had been tremendous volatility in industry leadership and profitability also.
g) Dr Naushad Forbes, Director, Forbes Marshall, said his company could face the uncertainty in the market and de-risk his company focusing on actual user markets and services, turning to international markets and by making new infrastructure building flexible for diverse operations.
Today’s business leaders face a radically altered socio-economic, political and business landscape. Not only has the overall global growth slowed down, the growth pattern itself has become more uneven. A “two-speed” world is emerging, characterized by significantly slower growth in the developed economies of Europe, North America and Japan, and continuing fast growth in the rapidly developing economies of China, India and Brazil.
This new business environment combined with the global debt overhang has brought along with it a heightened level of uncertainty. We wake up to rapid swings in commodity prices, exchange rates, policy frameworks, oil prices, etc almost on a daily basis. In addition, intensifying urbanization combined with the effects of climate change has led to more frequent and costly natural disasters. What makes the situation disconcerting is our increasing inability to predict the future. This has lead to continuous speculation and mood swings around us.
To succeed in this “new normal”, business leaders have already started adapting by making many small and big changes in the functioning of our businesses. While many are looking at rebalancing their geographic sales footprint others are focusing on supply chain footprint changes. Still others amongst us would be focusing on strengthening core processes like risk management, strategic planning and budgeting. A few may also have started exploring changes in people and resources management.
Overall everyone recognize the need to be more agile in this turbulent environment. In response to this, CII South has chosen "Thriving in an imbalanced world" as the theme for the upcoming Annual Regional Meeting on March 24th.
With BCG as knowledge partner, CII (SR) has released a Report on “Thriving in an Volatile World” at the conference. This will help members better understand this "new normal", evaluate their preparedness and provide specific ideas/concepts/ approaches that can be adopted in their respective functions and/or companies.
You will get access to following Knowledge Resources by subscribing to the Digital
Library of this event.