Session Two of day Two of Horizons consisted of a talk and a Panel Discussion on Corporate Governance.
Mr. Pritam Roy, Founder and CEO of Gomolo.in (the largest database of Hindi and Bengali films in India) and an IIM Kozhikode alumnus delivered a talk on ‘opportunities, resources and challenges’ of India in ‘redeem’ing itself. He also shared his experiences in his career during the last decade: the decade of ‘noughties’. Mr. Roy joined Ranbaxy after his post-graduation and he was responsible for Asia-Pacific and Latin American markets. He dwelled on certain phases that India has gone through in its ‘Redeem’ process. In the first phase, he talked about the Pharmaceutical and IT/ITES industries which were export-oriented and which started off the process of India a leading player in the world economy. According to Mr. Roy, the second phase consisted mainly in acquiring assets in the commodities, manufacturing and FMCG industries. Phase three saw India involving in niche industries – in marquee brands and telecom industry. The fourth phase saw more emphasis on natural resources and land as a main driving force of the economic development. He further commented on Barrack Obama’s comment recently that “…India has risen.”India has really come a far way from the ‘India Shining’ ads of last decade. On the ‘opportunities’ front, Mr. Roy dwelled upon the characteristics of employment in India, unprecedented growth, broadened penetration and inclusive growth. The main focus in ‘resources’ aspect of India are an increase in consumption, savings and investment , democracy ,free media, high aspiration levels and increased allocation to social programs. He also mentioned about RTI Act, Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), Food Security Bill, and Adhaar as some of the constructive steps taken in India for a better India. Some of the ‘challenges’ facing present India are poor physical , social , technology infrastructure.Moreover,there is a lack of focus on agriculture and a lack of quality healthcare and education. He also laid stress on the progress of different internet sites in the whole business scenario of India, most notably naukri.com, makemytrip.com, shaadi.com, gomolo.in, amongst others.
Mr. Haragopal Mangipudi, Global Head, Infosys Finnacle, Mr. Prashant Govil, Managing Consultant, Technology Consulting, Accenture and Mr. Pritam Roy , Founder and CEO of Gomolo.in were part of a panel discussion on “Paradigm in vigilant India and world of Corporate Governance”.The panel talk was efficiently moderated by Prof. Rani Ladha of IIM Kozhikode.The crux of the healthy discussion which took place is that transparency is essential for a wholesome corporate governance.Mr. Govil opined that ethics should also be a part and parcel of corporate governance.Strong regulation and government interventions contribute for this cause.Mr. Mangipudi laid emphasis on the agent-principal relationship in corporate governance.He laid stress on the ability to impart change in the system in the case for unavoidable bad performance in corporate governance and question the administration.he concluded by telling that integrity is a cluster concept and consistency of methods,measures , principles is the hallmark of desired corporate governance.Mr. Roy lauded the efforts of Infosys in setting the benchmark of corporate governance in India and the efforts of Mr. Narayana Murthy in this aspect.He highlighted the differences between features of corporate governance of developed countries and that of India.In India, much effort goes into catering to the larger shareholders.Moreover, according to him, different number of laws in the country increase the cost of the company in the effort taken to comply with governance in accordance to them.A variety of quality questions were raised by the students present in the audience and they were answered in a very informative manner by the panel members ,with an excellent degree of moderation by Prof. Rani Ladha.