40th NMC on Courage in Uncertainty

40th National Management Convention on “Courage in Uncertainty” inaugurated today
~ Government’s courage alone cannot overcome uncertainty - Kamal Nath
~ Mandatory CSR should not become a tax at a later stage- Azim Premji

New Delhi, 26 September 2013: All India Management Association (AIMA), the apex body of the management profession, today inaugurated its 40th National Management Convention on “Courage in Uncertainty” in the capital. Mr Kamal Nath, Union Minister for Urban development and Parliamentary Affairs inaugurated the two day convention.

Government’s courage alone cannot overcome uncertainty unless all the stakeholders in the economy including industry and entrepreneurs show courage as well,” Mr Nath said. He added that the government is moving ahead with various reforms in capital markets, FDI and tax regime to bring in more clarity.

Mr Nath said that it was important for both the government as well as the industry to learn from the global economic challenges facing the country. He added that the government was seized of the problems and the likely solutions. Managing growth and not just getting higher growth was the challenge for the country, as managing growth was must for ensuring inclusiveness of growth. Balancing social expectations remained a challenge, he said.

He further stated that since India’s engagement with globalization has grown over the years, it was getting increasingly impacted in terms of capital flows, trade and business. “However, one good thing about our country is that its economic fundamentals are still strong and we may see growth again,” he said.

Delivering the theme address, Mr Sanjiv Goenka, AIMA Convention Chairman and chairman, RP-Sanjiv Goneka Group said that the economy was in a transitory phase as the global environment was challenging and internal problems had dented the country’s economic prospects. “Time has now come to show courage to stem uncertainty. An economy can grow as much as its natural resources allow and therefore it’s time to build consensus in policies and prioritize objectives,” he added.

Mr Azim Premji, Chairman, Wipro Ltd, who received the Managing India Award for Corporate Citizen of the year at the Convention, advised industry leaders to participate wholeheartedly in corporate social responsibility activities if they wanted social good. “If things have to change in the society then the involvement of the whole ecosystem is must,” he said. One cannot rely on government alone to do social good and one had to become a co-sharer of the goal and the outcome, Mr Premji added.

Outlining the key factors for making CSR successful, Mr Premji emphasized the need to define the purpose and scale of CSR activities and choose a focus area. However, he cautioned against making CSR a substitute for personal philanthropy. “There should be a distinction between a company activity which is CSR and personal activity that is philanthropy,” Mr Premji said.

Commenting on the mandatory CSR as prescribed in the new Companies Bill, Mr Premji said that the stipulation of spending 2% of profits should not become a tax at a later stage.

AIMA also presented AIMA JRD Tata Corporate Leadership Award to Ms. Chanda Kochhar, MD & CEO ICICI Bank Ltd.

Mr. Rajiv Vastupal, Past President, AIMA and CMD Rajiv petrochemicals Pvt Ltd was awarded Honorary Life Felowship of AIMA and Mr.  R Goaplkrishnan, Director, Tata Sons was presented the Dr Ram Tarneja certificate for Best Article in Indian Management. Department of Post released a Special Cover and Cancellation to commemorate the Ruby Jubilee of the National Management Convention.

Earlier, Mr D Shivakumar, President, AIMA, said in his welcome address that having courage was the answer to uncertainty. “Courage never exists in vaccum, it needs to have fear and the determination to overcome that fear,” he said.

Ms Preetha Reddy, Senior Vice President, AIMA, and Managing Director, Apollo Hospital Enterprises,  presented vote of thanks.