IMA Young Managers Competition

November, 2019. With the purpose to enhance the managerial skills and knowledge of Management professionals and to develop sound management practices of corporations in the commercial capital of Madhya Pradesh, i.e. Indore, the Indore Management Association (IMA)has again taken an initiative to  provide a unique opportunity to its professional fraternity to test and demonstrate their knowledge, experience and expertise in the 25^th Young Managers Competition (YMC) organized for managers and professionals  on the theme of 29^th IMA International Management Conclave “$5 Trillion Economy: Vision to Reality” The event was organized in Daly College Business School Campus.

The following major corporate took part in the 25^th YMC

1. John Deere India. Pvt. Ltd.
2. VE Commercial Power Trains Ltd.
3. Cummins Turbo Technologies Pvt. Ltd.
4. Tata International.
5. Unichem Laboratories Ltd.

In YMC 2019, the corporations and the Industry Experts participated to elaborate their innovative ideas on $5 Trillion Economy. The major focus of the presentations was on the primary sector of the country. The issues like Constructing Equipments, supply of resources, Agriculture, Tech Innovation, Banking, Finance, Change Management, Construction, Manufacturing, retail, Global trade, Telecommunications, Informational Technology & Artificial Intelligence  were raised by the corporates. Overall the focus was on the theme, ““$5 Trillion Economy: Vision to Reality”.          

Mr. Ashwin Palshikar, Secretary of IMA, introduced the 29^th IMA’s Flagship event, The International Management Conclave 2020 which will be organized in Indore. He emphasized on the theme of the conclave, i.e. “$5 Trillion Economy: Vision to Reality” The flagship event of the IMA will be held on 17^th & 18^thJanuary, 2020.

Mr. Ashwin also addressed the audience about the past speakers which included the eminent personalities like Late Dr. APJ Abdul Kalam, Mr. Amitabh Bachhan, Dr. Ramcharan, Dr. Kailash Satyarthi, Mr. Rahul Bajaj among many others.

Taking the event further, Mr. Sushil Dubey, Executive Council Member, IMA, briefed about YMC and informed that it is organized every year for working executives of the companies in order to hone their managerial skills, improve their presentation ability, improve their thought process and research methodology. He also emphasized that the biggest advantage of YMC is that here professionals can learn to a great extent from the viewpoints of others.

The Chief Guest was Mr. Vijay Menon, Chief National Mentor, Caterpillar Corporations. In his mesmerizing speech said, Invention should be the reutilization of resources & it should be profound and unique. It should be simple to grasp and understand and easy to use.   He said that Culture is the key to reach the $5 Trillion Economy”, unless & until we adapt our own culture, we will face economic crisis.

He said that Indians go for tourism to foreign countries but they don’t even know about their own heritage, not even they visited their nearby states. So we need to adapt our own culture & utilize it for $5 Trillion Economy. He praised IMA for taking the initiative to organize YMC which is an important driver to bring together innovative ideas and perspectives of various professionals.

Young Managers very well presented their ideas & views on the theme of upcoming IMA International Management Conclave; $5 Trillion Economy: Vision to Reality.

Few of the sharing’s were:

What should be done to achieve $5 Trillion Economy?

Agriculture Sector

• Providing Agri-education and reducing the gap between researcher and farmer.
  • Flourishment of: Agro-processing, agri-startups & agri-tourism.
  • Introduction of corporate agriculture & cooperative agriculture
  • Improving supply chain management
  • Agriculture export policy
  • Making agriculture production centric to income centric
  • Innovation & commitment to increase farm yield.
  • Leveraging farm land availability to increase farm export.
  • Farm Productivity improvement.
  • Precision farming.

Service Sector

• Develop Railways, airways & seaway connectivity.
  • Pushing-up the start-ups & stand-ups.
  • Education for outsiders
  • Improving country’s logistic sector/ Banking & Insurance Sector
  • Foreign capital inflow must increase to further boost the investment by: Foreign direct investment, Foreign Portfolio investment, External commercial borrowings and NRI deposits
  • Potential of boosting Economy at rapid pace.
  • Creation of Jobs to increase purchasing power.
  • Contribution to increase Exports.

Manufacturing Sector

• Develop and promote MSME (Micro, small, medium enterprises) Sector.
• Ease of doing business by removing bottlenecks, too much clearance and rules & regulation.
• Reduction in corporate tax or provide tax holidays.
• Establishing : Power, electrical, market connectivity & physical infrastructure.

Private Investment – Investment, especially Private investment, is the “Key Driver” that :Drives Demands, Creates Capacity, Increase Labor Productivity, Introduce New Technology & Generates Jobs.

Export – Export must be integral part of growth model because higher saving precludes domestic consumption as the driver of final demand.

Education:

• Increase Education sector funding by government
  • China- 7.5% of GDP
  • World- 4.7% of GDP
  • India- 3% of GDP
• Increase Gross Enrolment Ratio in higher education
  • China- 30%
  • Russia-78%
  • Korea- 93%
  • India at 2011- 11.5%
  • India at 2016- 25.2%
• Increase Qualified Teachers and attendance : Teacher Absentism-25%
• Rashtriya Uchchatar Shiksha Abhiyan

Health:

• India has 18% of the global population but 34% of tuberculosis and 26% of premature mortality
• Public health expenditure -1.3% of GDP
• Public funding on health should be increased to 2.5 per cent

Housing:

•  17% of world’s slum resides in India
• National mission for Slum rehabilitation (Build 2.95 Cr housing units in rural areas and 1.2 Cr housing units)
• Rental cum ownership housing scheme 

It concluded with the Collaboration between Government, Industry and Society. Targeting sustainable and inclusive growth. Leveraging our biggest strength, ‘people’.  Enablers and drivers to take us to the target.

The winner for this competition was Cummins Turbo Technologies Ltd. – Mr. Akash Shrivastava, Ms. Ruchi Jain, Mr. Rishi Singh, Mr. Dheeraj

First Runner Up was John Deere India Pvt. Ltd. – Mr. Vaibhav Shrivastava, Mr. Sandeep Verma & Mr. Ankit Goswami.

Second Runner Up was John Deere India Pvt. Ltd. – Mr. Gunisetti Sai Ratna Sri, Mr. Sohil Changan, Mr. Sharath Udupa.

Mr. Sushil Dubey, Executive Council Member, IMA, proposed the vote of thanks.