Monthly Archives: November 2012

Importance of Reforms in process & governance for growth – Shri Kamal Nath, Minister for Urban Development & Poverty Alleviation

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Mr. Kamal Nath, Minister for Urban Development & Poverty Alleviation

In India we have developed a psyche to believe that what is not boom is gloom. I have seen the growth of auto sector at 34% and this is the moment of rejoice and celebration as we are growing and all auto manufacturers in other countries envy us for growing at such a pace, but still there is a feeling of gloom.

We should look at the future with the perspective of national growth in comparison to other countries. “Reforms” has become a buzz word and we do need reforms as they will become the strength in future. I must share with you that after the events that happened in 2008-2009 in UK & USA, we were concerned which model will be most suitable for India with the best reforms for the growth of our country. The bankers from the western world teach and preach us for the reforms that we need to do in financial sectors for many years but we have to understand that our priorities and needs are different and we have to act in a different way to achieve our goals. Reforms in process and governance are most important as they affect growth the most.  We have to put our heads together and work together to provide these reforms for our country. Continue reading →

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Employee Empowerment: Key to create a culture of Innovation [Aditya Ghosh, President, Indigo Airlines]

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Aditya Ghosh, President, Indigo Airlines

We are in a business that’s been here for around 100 years. Even in India, we are often called the sunrise industry. I am the youngest CEO of the youngest airline which is only 6 years old.  Clearly the opportunity is actually staring at us. India has gone from being an oppressed colony to the next superpower. India is seen as the next engine of growth for the world. Irrespective of which area you are in and what are the economic troubles in that area, these troubles open certain opportunities. During the 2nd world war many companies got devastated and businesses were shut down and then some people built tanks, weapons, ships & jeeps and they made a lot of money from that. In every era including this we have to deal with the problems by seeking out an opportunity in each of those problems.

India is a country with population of over billion people but there are less than 500 commercial planes. There’s something wrong in this equation.  USA is a country which is 1/3rd in size to India in terms of population but it has around 13000 commercial planes. India is therefore one of the under- penetrated aircraft market in the world. Less than 1% of rail traffic in India flies by Air, that means if we can convert 1% of rail traffic into air, we will need double the size of airlines in business that exists in India today. That is the opportunity we are chasing at Indigo. But like we all know that life is not perfect and it is never meant to be easy. There are few challenges that we face. We are aware of the economy slowdown and also concerned about the crazy fuel prices. Continue reading →

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