Chennai, Dec 20 (IANS) India has a sound economic future amid the global meltdown as it has several advantages beginning with “the urbanisation of the Indian minds”, according to a top corporate leader.
“The urbanisation of Indian minds, owing to the explosive growth of mobile telephony and cable television in the country, coupled with discretionary income with 300 million Indians, a young population and different modes of purchases – cash, hire purchase – India has a great potential,” said Tata Motors managing director Ravi Kant.
Speaking at the plenary session at the Pan-IIT 2008, a conference of the Indian Institute of Technology alumni here Saturday, he added: “The challenge is converting this mental connectivity into a reality. The one solution is improving the road connectivity.”
On the negative side, Indians lack discipline, concern for fellow human beings and the killer instinct to succeed, according to him.
Tata Steel managing director B. Muthuraman and TCS CEO and managing director S. Ramadorai – also from the Tata Group – stressed the ‘people advantage’ that India has over many other countries.
Citing the paucity of research activities at educational institutions, Ramadorai declared that TCS would recruit all those who get a doctorate from the IITs in computer science over next five years.
Urging people to ask the question, “Is this India what we want”, management consultant C.K. Prahalad said the country with its multicultural population understands how to leverage diversity.
He said India won independence twice – first in 1947 from the British rulers and the other, the economic independence, in 1993 when the industrial licensing regime was abolished.
He hoped 2009 would see the third independence for the country when the remaining shackles on the industry and the entrepreneurial spirit are removed.