Just finished an interview with globally renowned management consultant and CEO Guru Ram Charan. Hes in India to speak at the @BusinessToday #MindRush Here are some of the key things Ram Charan told Headlines Today * PM Narendra Modi has definitely changed the attitude and tone of the government. Clearly shown the world that India is now on the move. * He is fixing the house plumbing first. And it is only six months that he has been in office. PMO-Narendra Modi needs to be given time. * He is the first Indian PM to lay out his ten main priorities and he is also carefully monitoring them. * No country can do without FDI and he is taking important steps to bring FDI into India. * PMO India is a change master. He has done it before in Gujarat where he turned around the system. He will do it in India too. Soon you will begin to see the results. * Make in India is achievable when energy and power are both available. There are a lot of opportunities, we have intellectual power too. * Businesses should forget the past problems and look into the future and seek opportunity. * On CEO PMOIndia He has a broader mandate than a business CEO, has political mandate. He needs to be given time. Stop talking negatives. Give him time. Give me one reason why Modi cant deliver. This man has the record, he has the passion, nobody is perfect. He is a doer. * India should focus on only 5 or 6 areas. Go to healthcare, software, outsourcing, data analytics and do the right things in these areas. Reduce the cost of capital, dont change Supreme Court rulings, rebuild credibility of doing business in India. We can be number one. What we need is focus. * Manufacturing today is different from manufacturing of the past. We need to understand the difference. Modern manufacturing is not about cheap labour, it is about human capital and intellectual property. * Why are we comparing with China? Is China stopping us in any way? Comparing is pointless. Why are we talking China, let us focus on India and do the right things. Intellectuals waste time by comparing India with China. India needs to build forex to $1 trillion so that we are strong. Do the basics right. * Advise to young people: Software and algorithm specialisation will be beneficial, study managements - are they open to change, continue to expand your mental capital. * 49% cap on FDI in Defence is more than enough. Did foreign companies not go to China and invest their with even smaller caps. We need to create the environment. Investment will come. We need to maintain the credibility of our laws and respect Supreme COurt. * The old government was paralysed. PMOIndia has done more work in 6 months than the previous Govt did in 5 years. They have started clearing the logjam of decisions which were pending. * India needs to build credibility. Indias credibility was destroyed by retrospective taxation law passed by the previous Govt. CEOs appealed to the Govt but the then FM didnt relent. India can rebuild credibility if the Govt does not challenge the orders of the courts on reversing tax for Shell and Vodafone. * Govt should not destroy destroy Indias credibility by overturning SC decisions. ---EOM---
Posted on: Sat, 29 Nov 2014 07:46:15 +0000
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