Indian firm’s corporate globalization was at the heart of the agenda indeed, with a joining of forces among an engaged community of business leaders, led by the co-chairs: Prince Abdullah bin Mosa’ad, Chairman, Saudi Paper Manufacturing Co, Saudi Arabia; Rahul Bajaj,Member of Parliament and Chairman, BajajAuto, India; Peter Bauer, Chief Executive Officer, Infineon,Germany;
Claude Beglé, Chairman, Swiss Post, Switzerland; Pramod Bhasin, Chief Executive Officer,Genpact, India; Gerhard Cromme, Chairman, Siemens andThyssenKrupp, Germany; Jim Goodnight, Chief Executive Officer, SAS, USA; Kris Gopalakrishnan, Chief Executive Officer, Infosys, India; Alan Hassenfeld, Chairman of the Executive Committee, Hasbro, USA; Prakash Hinduja, Chairman, Hinduja Group, Switzerland; Baba Kalyani, Chairman, Bharat Forge, India; Liu Jiren, Chairman, Neusoft, China; NasserMunjee, Chairman, Development Credit Bank, India; GV Krishna Reddy, Chairman, GVK Power & Infrastructure, India; Dhruv M. Sawhney, Chairman,Triveni Engineering & Industries, India; Harshpati Singhania,Managing Director, JK Paper; President, FICCI, India.
A major theme discussed at the meeting was the significance of technology to improve productivity and boost the Indian economy’s knowledge base.‘Technology will help businesses emerge stronger from the economic crisis. Companies that invest in IT and integrate technology into its strategies will also boost their potential for sustainable growth,’ Pramod Bhasin, Chief Executive Officer, Genpact, India, observed.‘There is lot of reason for optimism in terms of technology-driven growth,’ concluded Liu Jiren, Chairman, Neusoft, China.
‘Technology has been a key enabler for social inclusion – both in China and India. Outsourcing is here to stay as cost is the driving factor in these turbulent times. Organizations are looking to reduce overhead in terms of resources and maintenance costs. IT Outsourcing is the lean and mean solution for these firms getting their work done.’ Peter Bauer, Chief Executive Officer, Infineon, Germany, added that ‘we have to leverage major shifts in the global economy to enhance sustainable growth through innovation in technology.And we need to do the necessary to ensure that technology related investments increase corporate performance.’
While the world’s attention is often focused on India’s superb IT-industry 70% of the Indian population still lives on the countryside and is expected to play a much bigger role in India's growth picture. Dhruv M. Sawhney, Chairman,Triveni Engineering & Industries, India, asked how the government can address the infrastructure roadblocks that are holding back a possible rural economic boom.
Reflecting on this comment, Prakash Hinduja, Chairman, Hinduja Group, Switzerland reasoned how India’s economic model shall look like in the future.‘The country's unique development model - relying on domestic consumption and hightech services - has brought a quarter century of record growth.
Should the consumption-driven model be complemented by an export-driven element?’ Claude Beglé, Chairman, Swiss Post, Switzerland expressed his fears about mounting protectionism in a world jolted by crisis and despair.‘The world’s leading trading powers should resist the tendency towards protectionism.We need free markets to shape this post-crisis world. India will do very well in a world routed in free and fair trade.’
Further discussion topics for the meeting included India’s policy priorities after the elections and the country’s role in global trade, as well as a specific focus on themes like merger & acquisitions, branding, human resources and the efforts to ensure sustainable growth – all rather practical topics to support Indian firms efforts to globalize their operations.
Growing into a
global firm means much more than
establishing a portfolio of units in different
countries around the world.‘We need new
models of cooperation to integrate our
global activities and to generate knowledge
for the achievement of sustainable growth,’
said GV Krishna Reddy, Chairman, GVK
Power & Infrastructure, India.‘I met at the
Global India Business Meeting with peers
from around the world to discuss and create
such models of cooperation.‘