IMA Insights: Recent Episodes
IMA India
IMA India's Podcast offers insights on the Indian economy, politics, business environment and functional areas for CXOs and senior management.
As a younger man, your columnist once wandered through the vast courtyards of the Meenakshi Temple in Madurai, awed by its towering gopurams and the hum of quiet devotion. What struck him most, though, was how seamlessly faith and enterprise coexisted. The temple was as much a monument to piety as it was to accounting.
This week’s podcast episode revisits that dual legacy through the story of the Pandya dynasty, whose ports thrummed with trade from Rome to Southeast Asia. Their pearl fisheries, merchant guilds and maritime laws made them masters of the southern seas. Centuries before banks and stock exchanges, the Pandyas’ proved that prosperity could be built on trust, ledgers and a goddess’s blessing.
In a fast-changing business environment, leaders are expected to deliver growth, innovation and impact all at once. A recent session of the IMA India CEO Forum featured B Santhanam, Former CEO of Saint-Gobain Asia Pacific and India Region, who reflected on his 25-year journey of building a purpose-led enterprise. His narrative offered a rare inside view of how organisations evolve across decades, how leaders navigate contradictions and how purpose often emerges not through design but accumulated choices. What followed was a candid account of strategy, culture, innovation and stakeholder engagement, one that resonates with the leadership challenges CEOs face today.
At our recent Q3FY26 CHRO Forum Dialogue in Bangalore, we hosted former Nestlé CMD Suresh Narayanan, who, drawing on decades of experience stewarding culture and capability and managing crises, reflected on the principles that anchor leadership through change. Our second session of the day, run as an open-house, focused on the imperative of building a future-ready workforce.
The attached podcast summarises these discussions.
In an era where marketing is expected to prove its value with precision, AI is reshaping creativity and accountability. At a recent India CMO Forum Coffee Chat in New Delhi, senior marketing leaders examined how AI is being deployed across the marketing value chain, from content and automation to analytics and attribution, and what this means for creativity, measurement and evolving C-Suite dynamic. The discussion explored where AI genuinely adds value, where its limits lie and how it is redefining the very idea of what creative excellence means.
The conversation yielded valuable insights on the future of AI in marketing. The attached podcast summarises the discussions, but in brief:
- AI has made marketing more measurable, but not always more meaningful.
- Efficiency has improved but creative conviction and long-term investment remain harder to defend.
- The future CMO must blend proof with perspective: filtering signal from noise and defining what matters, not just what can be measured.
- Integration – getting various parts to work together – will be marketing’s biggest AI -related challenge.
- AI will not replace creativity but raise the standard for what counts as creative.
- The defining edge for marketers will be judgement, together with the ability to translate intelligence into imagination and data into distinctiveness.
For years, business growth in India followed a simple script: acquire more customers, spend heavily on visibility and let scale deliver results. That model is faltering. Rising acquisition costs, proliferating consumer choice and the erosion of switching friction have upended the rules, making retention the true engine of sustainable growth. India’s shifting economics is forcing leaders to rethink the balance between acquisition and loyalty; the organisational and sectoral challenges arising from embedding retention; and the emerging models that could define the next decade of customer strategy.
The attached podcast examines the new economics of customer retention in greater detail
In an era where technology promises exponential gains but often delivers only incremental results, the CFO’s role has expanded from that of financial custodian to one of transformation catalyst. At a recent India CFO Forum session in Delhi, run in association with Celonis, a high-powered panel of business leaders explored how Process Intelligence (PI) can create real business impact. They discussed how finance can lead this next wave of transformation, using PI to uncover execution gaps, improve cashflow, expand margins and make AI truly work for the enterprise.
The attached podcast summarises these discussions, but in brief:
- AI cannot deliver value if the underlying processes are fragmented. PI can link data, people and systems, transforming automation into measurable ROI.
- PI can reveal hidden inefficiencies across order-to-cash, procure-to-pay and service cycles, providing a factual base for better decisions on cost, cash and control.
- A process view of the firm can help link every deviation, delay and decision to its financial impact.
- Embedding PI requires top-down sponsorship, cross-functional ‘fusion’ teams and governance structures that align IT, operations and finance.
- Across sectors, PI can accelerate cashflow, expand margins and strengthen controls, turning AI into a deterministic business engine.
Your columnist traces his roots to the Paliwal Brahmins of Rajasthan’s Thar Desert, a once-prosperous community that turned the sands of Pali into farmland and bustling trade. Their abrupt exodus centuries ago, driven by excessive taxes and the cruelty of rulers, left over eighty villages deserted.
Many migrated to other parts of Rajasthan, UP, Punjab, Haryana and the Himalayan foothills, carrying with them the habits of enterprise that had made them flourish. Some, drawn to the ascetic spirit of western India, embraced Jainism and spread further across the subcontinent. What was lost was not merely a people, but a finely balanced economy. Their story endures as a warning that when political greed overwhelms productive energy, even the most resilient societies can wither into dust.
The attached podcast explains.
India’s cities, once symbols of ambition, are now choking under filth, traffic and civic neglect. The solution will not come from politics but from enterprise. A “Clean Cities Compact” could unite business groups, local chambers and civic volunteers under a common banner to fund pilot projects, benchmark urban performance and publicly rate municipalities.
City leadership awards and transparent audits, modelled on corporate disclosure standards, could shame or celebrate performance. The aim is not to replace government but to compel it to function, backed by business skill and sustained public pressure. Only then can India’s cities become places where people wish to live, not merely work.
The attached podcast explains.
Continuing our series on India’s merchant classes, this week’s column turns to the Armenians, who arrived during the reign of the Great Mughals. Scattered at first, they later anchored themselves in Calcutta and Madras, then the twin capitals of British India’s trade. A small community remains in Calcutta, but most departed around Independence, to Britain, Australia and later Armenia after 1991.
Your columnist, while at school in Asansol, remembers a few Armenian classmates, pale-skinned and brown-haired boarders from Calcutta, who spoke Bengali and Hindi with ease and were as Indian as the rest of the lads. Like the Chinese of Tangra, they were as Indian as the rest of the lads
These essays aim to trace how such merchant communities, foreign in origin but Indian in spirit, shaped the country’s commercial and architectural fabric.
The relationship between India and the United States will, in many ways, define the fate of the Western alliance and the balance of power in the decades ahead. Washington’s turn to transactional behaviour risks undoing years of careful diplomacy and mutual trust. India, for its part, has drawn its red lines and held firm, signalling a new maturity in foreign policy.
As the West fumbles and China courts India, New Delhi's choices will shape the architecture of the future world order. Pakistan, ever opportunistic, remains a sideshow. The real contest lies between America, India and China, each now testing how power and patience can coexist in a restless new age.
This podcast explains.
In an environment where volatility is unrelenting and risks extend well beyond finance, the remit of the CFO has become that of an enterprise risk leader. At a recent India CFO Forum session inMumbai, Rajeev Gupta, CFO of L&T Technology Services and Surendra Goyal, Global CFO of Birla Carbon, drew on decades of experience to examine how organisations can strengthen resilience. They highlighted that the real task for finance leaders today is not only to manage balance sheets but to anticipate shocks, eliminate known risks, prepare for the unknown and embed risk awareness deep into organisational culture.
The attached podcast summarises these discussions, but briefly:
- Today’s CFOs are enterprise risk leaders, tasked with anticipating and mitigating financial, operational, regulatory, ESG, cyber and reputational shocks.
- Known risks (compliance, forex volatility, credit exposures), can be eliminated or controlled. Unknown ones (pandemics, regulatory shocks) demand planning, contingency reserves and cultural readiness.
- Building resilience requires balancing speed and caution: when to respond instantly and when to pause, gather intelligence and avoid fuelling misinformation.
- Effective risk management is about mindset and culture as much as systems.
- Resilience stems from diversification—of supply chains, investors, financing structures, even information – allowing organisations to withstand disruption.
- CFOs hold a central role in shaping organisational culture, training frontline leaders and embedding risk awareness across teams.
In an age where volatility has become the default and hierarchies are flattening under the weight of technology, leadership must shift from command-and-control to collaboration and influence. At a recent joint session of the India CEO, CFO, CHRO and CMO Forums in Delhi, Shiv Shivakumar, Operating Partner at Advent International, drew on decades of experience leading some of India’s most recognised companies to outline how leaders, Boards and organisations must reinvent themselves. He emphasised that the future would belong not to managers who issue directives but to leaders capable of fostering collaboration, cutting through complexity and anchoring resilience.
The attached podcast summarises these discussions, but in brief:
- Leadership in the 21st century is being shaped by volatility, with uncertainty rising in both frequency and magnitude.
- Companies that anticipate change significantly outperform the laggards; agility and foresight are now the decisive differentiators.
- Organisations must move from vertical integration and over-management to flatter structures, horizontal careers and true leadership rather than instruction.
- CEOs face shorter tenures, greater regulatory oversight and rising pressure to build personal brands, making authenticity, courage and collaboration indispensable.
- Boards must shift from passive oversight to active value creation, aligning themselves with strategic pillars and contributing domain expertise.
- Sustainable leadership rests on self-accountability, honest conversations and building collaborative cultures where dissent fuels progress.
In an era where work is being reshaped by automation, AI and fluid workforce models, the role of leadership is no longer simply to manage people but to design the very architecture of talent. At a recent India CHRO Forum session in Delhi NCR, Antony Alex, Founder and CEO of Rainmaker, argued that the real challenge lies not in choosing between technology and talent, but in weaving them into a symbiotic whole. Drawing on his expertise in corporate governance and workplace ethics, he highlighted how the human cloud era demands organisations that balance efficiency with empathy, and algorithms with distinctly human strengths. His central message was clear: theCHRO is uniquely placed to architect the blueprint for the workforce of the future.
The attached podcast summarises these discussions, but briefly:
- AI will free up human capacity, but sustainable advantage will lie in creativity, empathy and purpose.
- The paradox is not tech vs talent, but how to design a symbiotic model where automation and human capability reinforce one another.
- Workforce structures are shifting: from headcount to capability architecture, static roles to fluid skills and full-time employees to blended ecosystems.
- Generational divides, digital-native impatience versus legacy-system experience, demand rethinking feedback, communication and social bonding.
- Efficiency must be balanced with well-being, autonomy with algorithm and dashboards with ‘human signals’.
- CHROs are uniquely placed to architect this future through transparent communication, learning cultures and co-creation.
Across industries, transformation remains a constant ambition. Yet for CFOs, the hidden force that shapes its success is how organisations unlock value at speed and scale. At a recent India CFO Forum session in Bangalore, Dr Raghav Narsalay, Partner at PwC India and Head of the company’s Research & Insights Hub, unpacked how PwC’s 'Value in Motion' framework can equip Finance leaders to expand beyond their core intelligently.
With his deep experience advising global companies on competitiveness and growth strategy, Dr Narsalay offered a practical perspective that aligns India’s evolving economic context with a CFO’s imperative to steer growth, manage risk and reshape their organisations for the future. The attached podcast summarises these discussions, but in brief:
- Value is shifting from static, industry-specific siloes to dynamic, human-centric domains shaped by AI, ecosystems and geopolitical shifts.
- PwC’s ‘Value in Motion’ framework helps CFOs identify where to play next across 9 key domains.
- Intelligent diversification demands orchestration of external ecosystems, new capital discipline and trust management.
- CFOs must reframe core competence, define the job to be done, bridge capability gaps and audit technology to avoid hidden costs.
- A deliberate approach to entry, execution and exit strengthens ecosystem trust and long-term advantage.
- The CFO’s role is evolving: from cost gatekeeper to architect of intelligent capital and resilient partnerships.
- Unrelated diversification is becoming mainstream across Indian firms, not just conglomerates, driven by technology convergence and valuation pressures.
In a world where competitive advantages erode faster than ever, the pursuit of leadership is no longer about scale or dominance but about sustained distinctiveness. At a recent session of the India CEO Forum in Mumbai, Shishir Joshipura, former MD of Praj Industries, set out a compelling case for treating innovation not as a toolkit but as a cultural anchor. He argued that true growthemerges when organisations stop chasing quarterly wins and instead build systems that outlast individuals. Innovation, in his telling, is the lever that enables businesses not merely to play the game better, but to rewrite the rules altogether.
The attached podcast summarises these discussions, but briefly:
- The true race for organisations is to be unique, not number one; sustained advantage comes from creating distinctiveness that is hard to replicate.
- Leaders must build for perpetuity and optionality, looking beyond quarterly results to ensure resilience and long-term relevance.
- Innovation is a mindset and culture, not a tool; embedding it as a core value is essential to drive systemic change.
- Active listening to customers, cross-disciplinary collaboration and employee pride form the bedrock of an innovation ecosystem.
- Innovation can be incremental, disruptive or breakthrough in nature.
- Leaders must personally champion the latter two while creating systems that tolerate and learn from failure.
- For MNCs, the guiding principle is to be local as much as necessary, global as much aspossible; speed and action bias often matter more than consensus.
The rise of Jardine Matheson owed as much to Bombay as to Britain. Sir Jamsetjee Jeejeebhoy, a Parsi merchant , supplied the cargo, capital and connections that William Jardine needed to build his “Noble House.” The Parsis of Bombay were not mere middlemen; they were global traders. From cotton and tea to the darker commerce of opium, families like the Jeejeebhoys, Readymoneys and Wadias tied Canton to Bombay.
They spoke Gujarati at home, did business in English and haggled in Cantonese in China’s ports. Their networks spanned continents, their fortunes bankrolled philanthropy and their imprint shaped both Hong Kong and Bombay. Today their numbers have thinned, but a portrait of Jeejeebhoy still hangs in Jardine’s headquarters and serves as a reminder that globalisation was never a Western monopoly, but also an Indian enterprise.
This podcast explains.
As American tariffs bite and orders dry up, Indian firms exposed to the US are scrambling for options. None is straightforward. Shifting production elsewhere means heavy capital outlays, new supplier risks and the headache of securing components and sub-assemblies. Yet a sudden shift in US policy could render such moves pointless.
The calculation, then, is less about margins than about risk. Which is the bigger danger - losing customers or tying up capital in ventures that may turn sour? The answer varies by sector, by supply-chain reliance and by tolerance for uncertainty.
One conclusion is hard to escape. In a fractured global economy, supply chains are no longer stable. They are the platform on which strategy is now fought.
This podcast explains.
India’s $2.1 trillion consumer economy is being rapidly rewritten. Aspirations are rising, as the rural –urban divide begins to blur. The digital media now shapes buying decisions, even when purchases stay offline.
Premiumisation is spreading beyond metros, while health and wellness surge nationwide. Consumers loyalties pivot on relevance and trust, forcing brands to adapt faster. From FMCG to autos, spending patterns are shifting in unexpected ways.
IMA’s latest report decodes these trends with sector deep-dives, data and case studies. For CXOs, it is not just a nice to read, it may in a way be essential for staying ahead. A brief glimpse of the report is contained in this podcast.
Here is a link to the microsite to purchase the report https://payments.ima-india.com/lp/consumption-report
Your columnist has, over the years, been trained by his better half to visit museums with the noble intent of cultivating an interest in art. Initially reluctant, he is now more attuned to its charms and has even begun to recognise the works of the Greats. Admittedly, he still sometimes wonders what all the fuss is about, but he has evolved into a more willing follower—something of a loyal aide-de-camp, trailing his master with immaculate precision.
On a recent hiking trip to the Alps, however, in the company of old friends, he reversed roles. He cajoled a reluctant band of burly mates into joining him at Zurich’s famous Kunsthaus Museum. The briefing he offered them forms the basis of this podcast.
The new order will be multipolar, fragmented and spiked with suspicion. America will remain strong but unpredictable. China will be powerful but mistrusted. Europe will hedge and Asia will prepare for the worst.
In this unsettled world, India’s choices, whether it pursues reform, asserts itself diplomatically and balances skilfully, will shape not just its own future but the architecture of the century. The order is not yet written, but Delhi holds one of the pens. The only question is whether it writes boldly or merely underlines the footnotes of others. The coming two to three years will decide. The podcast explains.
Tata Motors has learned to treat disruption as a forcing mechanism. Product disappointments such as the Nano and the Indica, exposed not only poor design but also structural weaknesses in quality control and consumer insight. By 2016 the rot was visible, as market share eroded, customer trust waned and internal morale sagged. The company responded with urgency. The turnaround playbook was rooted in recognising crises not as aberrations, but as catalysts for reinvention. Adit Jain in conversation with Vivek Srivatsa, Chief Revenue Officer at Tata Motors discussed process involved in the reinvention of the company.
In an era where consumer attention is increasingly fragmented and fleeting, marketing must pivot from persuasive monologues to precise behavioural interventions. At a recent India CMO Forum session in Delhi, Biju Dominic, Chief Evangelist at Fractal Analytics and a pioneer in applying neuroscience to consumer strategy, challenged conventional models of influence. Drawing on two decades of work with global brands and behavioural science labs, he argued that marketers must stop appealing to the rational mind and start designing for the unconscious brain. His message was unambiguous: the future of influence lies in milliseconds, not minutes—and ignoring this truth is costlier than we think.
The attached conclusions paper summarises these discussions, but in brief:
- Marketers continue to rely on outdated assumptions about human rationality, despite proof that decisions are largely unconscious and context-driven.
- The smartphone has become the primary medium of influence, but brands have not adjusted to its millisecond timescales or the fragmented nature of attention.
- MicroStimuli, fleeting but emotionally charged cues, offer a new way to drive behaviour at the point of decision-making.
- Anticipation and memory, not information input, drive most consumer responses; marketing should therefore trigger associations, not deliver full explanations.
- Neuroscience offers a better framework than psychology for understanding decision-making, impacting everything from brand campaigns to digital nudges.
- Marketers must treat each touchpoint as a behavioural intervention—especially in a post-click world where high cart abandonment, low CTRs and weak return rates indicate a loss of influence.
- B2B marketing, often assumed to be rational and linear, is equally shaped by emotion and intuition; MicroStimuli may offer a path to more effective engagement if empathy and experimentation are prioritised.
The world today is in a state of flux - geopolitical tensions, economic volatility, trade wars and environmental crises are converging into an unrelenting storm. In such a landscape, running an enterprise is no longer about operational excellence alone, it’s about human resilience. The role of a leader has fundamentally changed. From being a figurehead or coordinator, the modern leader is now omnipresent, emotionally available, environmentally aware and prepared to manage failure at multiple levels. Drawing on his rich experience, at a recent IMA India CHRO Forum in Delhi NCR, Suresh Narayan, Chairman and MD, Nestle reflected on how leadership must evolve to meet the moment. His message was clear: crises will come, but how an organisation and its leaders respond can define legacies.
Sustainability and ethics are no longer optional 'nice to haves’ but an essential element of long-term business success. Today’s organisations must go beyond minimising their environmental impact and actively integrate ethical practices and sustainability into their core operations. Avery Dennison, a global leader in materials science and digital identification solutions, is at the forefront of this transformation. By optimising labour and supply chain efficiency, reducing waste and driving sustainability, circularity and transparency, Avery Dennison is redefining how brands connect with consumers while making a lasting positive impact on the planet. At a recent ISF session, Saurabh Agarwal, Vice President and General Manager, Materials Group, South Asia, Avery Dennison provided valuable insights into building a responsible, future-ready organisation by embedding sustainability into operations, fostering ethical business practices and creating sustainable products.
The pressure of delivering strong results quarter after quarter can tempt even the best companies to be myopic on ethics and fair business practices. Sometimes, this gives rise to the sort of scandals that can destroy the very foundations of a business. While some may view 'fair practices' as resource-draining and growth-impeding, companies that adopt a values-based approach to ethics and compliance gain a long-term competitive edge in the marketplace. At recent combined sessions of the India CEO, CFO and CHRO Forums across India, Sabina Sudan, a corporate lawyer and active speaker on ethical and legal issues, discussed effective strategies for melding profitable growth with ethical practices, and how organisations can embed ethics into the corporate culture, including in their code of conduct, CSR initiatives and whistle-blower policies.
According to Spencer Stuart, 87% of CHROs today are active participants in CEO succession planning – a powerful signal that boards increasingly see HR leaders as strategic stewards of enterprise leadership. As the CHRO role expands beyond functional excellence into business transformation, culture-building and digital foresight, it is becoming a credible springboard to the CEO’s office. At a recent India CHRO Forum session in Delhi and Mumbai, Ashish Srivastava, Managing Director of MetLife Global Capability Centre, shared his personal journey and insights on navigating the shift from CHRO to CEO. His story illustrates how calm leadership, together with a strategic mindset and continuous self-reinvention, can shape not only individual success but also a future-ready leadership pipeline.
Despite years of digital transformation, most enterprises remain stuck in what might be termed a ‘digital slum’: a maze of dashboards, siloed systems and disconnected analytics. They are data-rich but insight-poor, paralysed by complexity and unclear on how to translate their massive data reservoirs into real business value. At a recent India CEO Forum session in Mumbai, Dr Shailesh Kumar, Chief Data Scientist at Reliance Jio, laid out a comprehensive blueprint for becoming an AI-first enterprise, one that goes far beyond use cases and shiny GenAI tools. Such a plan would call for a systemic reimagination of workflows, a deep integration of domain and digital knowledge and a cultural pivot from IT mindsets to AI-centric thinking. Dr Kumar argued that the core issue in AI adoption isn’t technology, but insecurity, rigidity and fragmented systems. True transformation begins with people and culture, and the end goal is clear: interoperability.
In an era of increasing organisational complexity and rapid market shifts, the partnership between CFOs and CHROs is more critical than ever. Strategic synergy between Finance and HR fosters resilience, driving sustainable growth and cost efficiency. A well-integrated Finance-HR collaboration enables companies to navigate economic uncertainties while strengthening workforce engagement. At a recent India CHRO Forum session in Bangalore, Abhishek Gupta, Myntra’s CFO, and Govinda Raj MK, its CHRO, shared insights on how their partnership enhances agility and innovation, ensuring businesses remain future-ready. This podcast summarises these discussions.
As AI reshapes the business landscape, CHROs are being called upon to cut through the noise and lead with clarity. This episode brings together two compelling conversations from IMA India’s recent HR sessions. In the first, Naveen Narayanan, Global Head of HR at Biocon Biologics, outlines the CHRO’s evolving role in embedding GenAI into workforce strategy—bridging capability gaps, reframing talent models and redefining value creation.
The second session delves into the growing shift from role-based to skills-based hiring. As organisations respond to automation, digital disruption and AI-led transformation, HR leaders are rethinking what constitutes core capability and how best to develop it—whether in cybersecurity, machine learning, industrial automation or beyond.
This podcast summarises these discussions.
Sustainability is now a critical imperative for businesses and societies alike, and understanding the prime forces driving this agenda is more important than ever before. From global trends and technological innovations to corporate leadership and evolving policy frameworks, the sustainability landscape is rapidly transforming. This podcast explains the tangible benefits of embedding sustainability into business practices and discussed how businesses can navigate the complex terrain and driving meaningful change for a sustainable future.
Compensation is a critical lever for attracting, retaining and motivating talent. In a shifting economic climate, getting it right has never been more important. At a recent IMA India CHRO Forum session in Mumbai, Amit Otwani, Associate Partner and Kavitha Venkatachalam, Director at Aon Human Capital Solutions (HCS), shared insights from Aon’s latest Salary Increase and Turnover Survey. Drawing on global and Indian macroeconomic trends, the discussion explored FY25 increments, pay-for-performance strategies and evolving talent and reward patterns. It also offered a sector-wise view of attrition dynamics and emerging business imperatives shaping workforce strategies. This podcast summarises these discussions.
The Supreme Court of India recently ordered the liquidation of Bhushan Power and Steel Limited (BPSL) under the Insolvency and Bankruptcy Code (IBC), marking a significant development with wide-ranging implications for Corporate India. The case highlights critical issues around procedural rigour, finality in insolvency proceedings and the scope of judicial intervention. At a recent IMA India CFO Forum session, Tine Abraham, Partner, Disputes Practice and Mohammed Shameer, Partner, Disputes Practice at Trilegal, examined the judgment and discussed its potential impact on the corporate and investor community. This podcast summarises these discussions.
Global investment in smart manufacturing is accelerating, with India emerging as one of the world’s most dynamic markets. As industrial ecosystems evolve, the focus for businesses is shifting from whether to adopt smart technologies to how to scale them effectively. At a recent IMA India CEO Forum session run in collaboration with the EDAG Group, Rainer Wittich, CEO, EDAG Production Solutions, Arnab Roy, CFO, Maruti Suzuki and Rajat Verma, Founder and CEO of LOHUM, explored the advancements driving the next era of industrial innovation and examined how smart solutions are reshaping production, competitiveness and sustainability across high-impact sectors. This podcast summarises these discussions.
At our recent Q1, FY26 CHRO Dialogue session in Mumbai, we explored two important subjects: the role of culture in business transformation; and skill-based hiring in today’s rapidly-evolving landscape. Leading discussions during the first session, and moderating the conversation in thesecond, open-house-style session was Sanjay Menon, Managing Director of Publicis Sapient India and Global Head of Service Lines for SapientRazorfish.
The attached podcast summarises these discussions, but in brief:
- Culture remains the invisible force behind all business transformation – whether successful or otherwise.
- Purpose anchors change; without it, transformation drifts and loses focus.
- Rituals, peer stories and visible leadership behaviours drive change.
- CHROs hold the key to turning culture into an engine of growth.
- Honest, confrontational and uncomfortable choices protect cultural integrity.
- Micro cultures, when shaped well, can strengthen innovation without weakening the organisation’s core values.
- Cultural contradictions show up first in how leaders behave, not in what they say. Closing this gap is vital.
- Together, generative AI, regulatory complexity and commoditised markets have made skills-based hiring essential for businesses.
- Data fluency, AI integration, curiosity, agility and an ownership mindset are today non-negotiable enterprise-wide competencies required at all levels to 'do more with less' and buffer against shocks.
- Human-AI hybridity is essential. Client-facing roles demand human judgement; pragmatic AI adoption is constrained by regulation.
- Progressive CHROs advocate flexible structures, parallel tech leadership tracks, 'culture co-creation' and an HR/CEO partnership for strategic risk-taking.
In an age where volatility is not the exception but the norm, CFOs are being called upon to lead with strategic clarity and operational resilience. At a recent India CFO Forum session in Delhi, two seasoned leaders – Dev Tripathy, CFO of Philips (Indian Subcontinent) and Amit Agarwal, Executive Director and Group CFO of DCM Shriram – unpacked the practical imperatives of risk readiness. Their message was unequivocal: the CFO’s role must expand beyond compliance and control to one of co-piloting the business through systemic uncertainty, technological upheaval and regulatory flux. With the right frameworks, mindset and agility, today’s Finance leaders can not only mitigate risks but turn them into levers of sustainable growth.
The attached podcast summarises these discussions, but in brief:
- In a world marked by systemic volatility, deglobalisation and shifting consumer dynamics, the CFO’s role is evolving rapidly
- A risk-ready CFO is no longer just a financial gatekeeper but a co-pilot tasked withsafeguarding value, enabling agility and building stakeholder confidence.
- Leading CFOs are deploying structured yet flexible mechanisms to absorb shocks and enable sustained growth.
- As financial and non-financial risks converge, CFOs must reorient toward business-first risk framing, particularly in innovation, reputational exposure and global supply chains.
- AI and digital tools are enhancing visibility and foresight, but CFOs must balance technological optimism with operational realism.
- In an era where the speed of change outpaces strategy, the modern CFO’s mandate is to respond with structured responsiveness and resilient design.
In a landscape where complexity defines the norm, B2B marketers are under increasing pressure to deliver growth through precision, adaptability and measurable impact. At a recent India CMO session, run as an open house moderated by Manish Sinha, CEO of Zamun Services, senior marketing leaders explored the evolving architecture of lead generation, a domain where content strategy, sales alignment and intelligent targeting converge.
The discussion underscored a clear shift: from chasing leads to designing opportunity. As buying cycles grow longer and stakeholder groups become more fragmented, the imperative is not scale alone, but sophistication. With the right orchestration models and sharper attribution frameworks, marketing can move from a support function to a strategic growth engine.
The attached conclusions paper summarises these discussions, but in brief:
- B2B lead generation is being redefined by the growing complexity of buyer journeys, widening stakeholder groups and rising demand for content-driven trust.
- In the small-and-medium-enterprise segment, challenges around infrastructure readiness, pricing perception and decision latency require nuanced targeting.
- Organisations are shifting from chasing leads to shaping opportunity pipelines, with greater marketing-sales integration and data-enriched pre-sales engagement.
- Today’s sophisticated models blend automation, CRM stitching and agentic AI to assess lead quality and accelerate conversion.
- Measurement is evolving beyond MQL and SQL towards contribution to order book and gross profit, aligning KPIs to real business value.
In an era defined by exponential advances in generative AI and automation, Finance functions face both, unprecedented opportunities and existential challenges. At a recent online session of the CFO NxT Forum, Madhavan Hariharan, who comes with three decades of experience spanning strategic leadership at CK Birla Group, senior roles at Philips and governance responsibilities at Galaxy Surfactants, framed AI not as a distant novelty but as a present-day force reshaping financial operations, reporting and decision-making. His call was clear: complacency poses a far greater risk than the technology itself.
The attached podcast summarises these discussions, but briefly:
- With Generative AI reshaping operations, reporting and decision-making, Finance leaders must act now. Complacency is a bigger threat than the technology itself.
- The real value of AI lies not just in its speed but its ability to produce high-quality, secure outputs, which requires clean master data, strong governance and careful deployment to protect sensitive information.
- Success with AI does not require complete mastery upfront; starting small, experimenting and learning through hands-on use is key to building confidence and unlocking innovation.
- AI is transforming roles across functions, including Finance, where professionals must shift from transactional processing to strategic, AI-enabled orchestration.
- With AI capable of handling analysis and visualisation, the ability to humanise insights through storytelling becomes a critical differentiator, turning data into compelling narratives that influence decision-making.
Eleanor Roosevelt once said, ‘Great minds discuss ideas; average minds discuss events; small minds discuss people.’ In an era increasingly dominated by personalities and passing controversies, it is essential to refocus on enduring ideas and transformative events. This is especially true in the post-2020 world, where a series of global shocks has fundamentally reshaped geopolitics. In response, India’s foreign policy is being fundamentally recalibrated. From managing a volatile border with China to cultivating new alliances across the Global South, India is navigating a multipolar world with caution and intent.
Against this backdrop, Suhasini Haidar, Diplomatic Editor at The Hindu, led a timely discussion at a recent India CEO and CFO Forum session in Delhi NCR. Her insights offered business leaders a candid perspective on how India’s foreign policy may evolve in 2025 and beyond, balancing principles, pragmatism and power in a complex and shifting global order. This podcast summarises these discussions.
The emergence of US tariffs as a policy tool, is a decisive shift in global trade and indeed the liberal world order, which facilitated the emergence of Asia’s tiger economies. Once dismissed as a temporary measure, tariffs are now rooted in a broader economic agenda that merges protectionism, domestic manufacturing and geopolitical influence.
For companies, this carries far-reaching implications, shaping inflation, growth and production strategies. At the start of the year, markets assumed tariff increases would remain limited, more negotiation tactic than economic reality. However, recent decisions from the US administration, targeting Canada, Mexico, China and potentially Europe and India, have splintered that expectation. This podcast explains.
In the discussions that your columnist has had, over the course of the past couple of months, with IMA Forum Members, it was evident that urban consumption has begun to taper.
As it happens, the trend really became apparent several quarters ago. Still, consumer goods companies are likely to record annual revenue growth between 5% and 8%. But that is largely on account of higher prices rather than larger volumes. Analysts have offered various explanations such as greater inflation, poor wage growth and higher home rentals.
Whilst these may well be true, the fact is consumption growth is usually in sync with urban employment. That has failed to happen. This podcast explains.
Zomato’s recent announcement that it will be rebranding its parent company as ‘Eternal’ raises an important question: Why do companies change their names? Typically, an organisation’s name is one of its most valuable assets, being instantly recognisable, carrying its history and shaping consumer perceptions. Yet, businesses do frequently change their names. Whether driven by consideration around strategic growth, crisis management or shifting consumer sentiment, this can be a high-stakes decision.
This podcast explores the key drivers behind corporate renaming, backed by real-world examples and lessons on what determines success or failure.
Traditional strategic plans are based on long-term goals and market forecasts. However, in a world of disruption, companies must adopt more agile approaches that allow them to pivot quickly. Methodologies associated with software development, emphasise flexibility, enabling companies to continuously evolve. Rather than relying on a single forecast, businesses are using scenario planning. This involves conceiving different future outcomes and preparing for them in advance.
In the business world, companies that have thrived are often the ones that have adapted swiftly to shifting circumstances. Adaptability, allows them to pivot and innovate, in response to new challenges, ensuring their survival in the face of uncertainty. This podcast explains.
We expect the US dollar to gain in value against a basket of global currencies, as higher inflation in America will force policy makers, in its central bank, to keep a hawkish stance on interest rates. With higher yields, therefore, capital will be attracted back to lower risk returns offered in the US treasuries, with a consequent sell off in emerging market bonds and equities. Moreover, The S&P 500 index, which tracks the stock performance of 500 of the largest companies listed on stock exchanges in the United States, fell from around 6100 in end January 2025 to 5800 at the beginning of March.
Inflation, which the United States Federal Reserve assumed had been tamed, has demonstrated a new spark of energy and seems to be edging upwards again. So, the interest rate cuts factored in, previously by markets, are now open to question. It’s a double whammy. In January America’s “core” consumer-price index, which strips out volatile food and energy costs, jumped by 5.5% at an annualised rate.
This podcast explains.
India’s road sector is on a transformative path. Propelled by the Bharatmala Pariyojana – an ambitious plan to construct 34,800 km of new highways and expressways – the country’s highway network expanded by 60% in the decade to 2024. However, roadblocks remain, clouding both the near- and the long-term view. In the current fiscal year, owing to a host of issues (including national elections), the government is likely to fall well short of its target of building or upgrading 13,000 km of highways. From a longer-term perspective, it remains a challenge to ensure strong private-sector participation in the sector.
After experimenting with various models of public-private partnership (PPP), the government has now returned to the tried-and-tested Build-Operate-Transfer (BoT) model, albeit with revised norms that help address past inefficiencies and attract private participation. We spoke to several industry leaders to arrive at a clearer, ground-level view of the pluses and minuses of the current approach. On the whole, despite continuing challenges, they are optimistic about the sector’s long-term potential.
This podcast summarises our findings,
The 2025-26 Union Budget came at a time of moderating domestic growth and heightened global uncertainty. At a recent joint session of the India CEO, CFO, CHRO, CMO, ISF and CFO NxT Forums, AK Bhattacharya, Editorial Director of the Business Standard, provided a medium-term outlook for the Indian economy. He assessed the Budget’s key policy announcements and their impact on India’s growth trajectory. Further, he examined the prospects for reforms and fiscal consolidation, as well as the challenges and opportunities that lie ahead. This podcast summarises these discussions.
As climate changes intensify, consumers across segments are demanding sustainable alternatives – and the automotive industry is no exception. Clean(er)-fuel options make up a rising share of India’s passenger vehicle market and this trend is expected to only strengthen in the years ahead.
This research was developed in partnership with Ayvens a leading sustainable mobility player,under the agegis of IMA’s India Sustainability Forum (ISF). It examines the current market dynamics in terms of consumer demand, manufacturer preferences and government policy, aiming to identify which of the three broad types of ‘green alternatives’ – compressed natural gas (CNG), hybrid and electric vehicles (EVs) – are likely to come out ahead in the longer term.
We often think of Indian weddings as the most traditional of social events, steeped in age-old rituals and elaborate ceremonies. However, a closer look reveals that they serve as a powerful lens to understand broader socio-economic shifts shaping the country. With the youngest of the Millennials and the oldest Gen Zs now of marriageable age, the wedding industry reflects evolving consumer preferences that go beyond mere expenditure, touching aspects such as financial independence, personalisation, sustainability and the influence of digital trends.
As this podcast argues, the ‘Great Indian Wedding’ is no longer just a cultural milestone but a complex interplay of tradition and aspiration, offering valuable insights into shifting behaviours across allied sectors, including hospitality, tourism, retail and technology.
Public policy is crucial in shaping business outcomes, especially in dynamic markets like India. For businesses, anticipating and adapting to policy changes is a strategic necessity. From evolving compliance frameworks to the impact of geopolitical shifts on regulation, engaging with public policy is vital to an organisation’s long-term success.
At a recent India CEO Forum session in Chennai, Rameesh Kailasam, CEO of IndiaTech.org, shared insights on navigating the complex interplay of public policy and business strategy. He focused on how to forecast policy changes, mitigate regulatory risks and leverage opportunities to influence policy in favour of industry. This podcast summarises these discussions.
India’s landmark Digital Personal Data Protection (DPDP) Act is a big step towards establishing a culture of data privacy. Sixteen months after the law was notified, the Ministry of Electronics and Information Technology released draft rules under the Act, offering clarity on its implementation, including the formation of the Data Protection Board (DPB) to handle breaches and impose defined penalties. With a tangible timeline for implementation of the Act in place, the contours of the final regime under the DPDP becoming clearer and the strong penalties for non-compliance enshrined in the DPDP, it is the need of the hour for Indian businesses to understand the key tenets of the act and prepare to adhere to them.
At recent India CEO Forum sessions Arun Prabhu, Partner and Head - Technology & Telecommunications at Cyril Amarchand Mangaldas, shed light on the changes that will flow from the DPDP and what corporates must do to prepare for it. The podcast summarises these discussions.
IMA recently held its Q4 FY25 CHRO Dialogue in Mumbai, with sessions on M&A and ESG. Leading the first session, we had Tarun Varma, Global Chief Human Resources & Sustainability Officer at Tata Consumer Products Limited (TCPL), discussing the Tata Group’s approach to M&A, and how cultural integration is such a crucial success element in any merger. Dr Sujiv Nair, Global Chief Human Resources Officer at Re Sustainability, led the second session, highlighting how CHROs can play a critical role in driving ESG initiatives. This podcast summarises these discussions.
Artificial Intelligence (AI) is transforming the Finance function by enhancing efficiency and improving decision-making capabilities, with Generative AI driving an even greater shift than previous technologies. AI-powered financial planning and analytics can drive growth, streamline operations and add value, but CFOs must balance innovation with control and risk management.
At a recent India CFO Forum session in Bangalore, Dr Phaphul Chandra, Professor of Artificial Intelligence and Director at Atria University, explored real-life applications and best practices for implementing AI in Finance, and shared some key considerations around change management. This podcast summarises these discussions.
India’s journey toward mass prosperity hinges on addressing the critical challenges of employment, employability and education. These three pillars form the foundations of economic growth and social development, shaping the nation's trajectory in an increasingly competitive global landscape.
At a recent joint session of the India CEO and CHRO Forums in Bangalore, Manish Sabharwal, Vice-Chairman of Teamlease Services, outlined key strategies for improving employability, expanding access to quality education and generating meaningful employment opportunities. He explored the interplay between these ‘E’s’, identifying structural reforms, policy initiatives and actionable strategies that can unlock India’s full potential.
This podcast summarises these discussions.
Donald Trump's election and the announcements made since are sending shockwaves around the world. The leadership transition in Washington DC will have far-reaching ripple effects, influencing global economic and political dynamics. Key considerations include changes in US monetary policy, potential tariff hikes and their effect on other currencies. Domestically, the rupee, which was stable for much of last year, saw a sharp depreciation in December.
At recent India CFO Forum sessions across the country, Manoj Goel, Managing Director & Head of Corporate Sales, Markets & Securities Services for HSBC India, examined the impact of Mr Trump’s presidency, global currency trends, the Rupee’s outlook under new RBI leadership and key priorities for CFOs in the coming year. This podcast summarises these discussions.
DeepSeek is claimed to have been trained at a cost of approximately $6 million, significantly less than the $100 million for models like OpenAI's GPT-4. It appears to achieve similar performance with less advanced chips, challenging the notion that only the most expensive hardware is essential for cutting-edge AI.
DeepSeek's emergence has rattled markets, causing significant losses for major tech companies like Nvidia. This is due to the perception that less resource-intensive AI development is possible, potentially reducing the market for expensive chips. On 27 January, the tech-heavy Nasdaq fell more than 3% in a broad sell-off that included chip makers and data centres around the world.
China’s emergence as a tech power is now at near parity with that of America, as this podcast explains.
As a consumption-driven economy, India’s overall GDP growth is tied strongly to how its households spend. While the national accounts data provide a once-in-a-quarter snapshot of overall spending growth, the government’s periodic Household Consumption Expenditure Surveys allow for a deeper (if imperfect) view of spending trends across states, the urban-rural divide and by consumption category. The latest survey round, covering 2023-24, reveals some important developments in terms of overall spending, as well as regional and category-wise trends. This podcast highlights some of the key insights from the survey.
Transfer pricing (TP) has become a critical area of focus for companies and regulators, evolving significantly since its formal introduction in 2001. At a recent India CFO Forum session in Pune, Vijay Iyer, Transfer Pricing Leader at Ernst & Young India,covered recent trends in India’s transfer pricing audit environment, current and expected issues in litigation and some recommended best practices for dispute mitigation and resolution, including the use of MAP and APAs. This podcast summarises these discussions.
In recent years, global trade has faced major geopolitical headwinds, including trade wars and economic decoupling, particularly between the US and China. The Covid-19 pandemic disrupted supply chains, exposing vulnerabilities and catalysing localised production. Rising protectionism has led to a spike in tariffs and other restrictions, undermining free trade principles, and today, the WTO’s dispute resolution mechanism lies broken. Technological competition and sanctions have further complicated global trade relations while climate policies and divergent sustainability goals are reshaping trade priorities. Donald Trump’s re-election only adds new complexities to the equation.
At a recent India CEO Forum session in Hyderabad, Ambassador Syed Akbaruddin, Founding Dean of the Kautilya School of Public Policy, provided a medium-term outlook for world trade, with a focus on the strategic imperatives for India and businesses operating in the country. This podcast summarises these discussions.
With the world’s finite natural resources depleting rapidly, the circular economy offers a more sustainable model by prioritising resource efficiency, reuse and regeneration. It significantly reduces waste, minimises pollution and curbs greenhouse gas emissions, helping combat climate change.
At a recent online session of the India Sustainability Forum, Dr Sujiv Nair, Global Chief Human Resources Officer at Re Sustainability, explored the concept of the circular economy, emphasising its transformative potential. The discussion highlighted actionable strategies for resource efficiency, waste minimisation and value creation across industries. This podcast summarises these discussions.
Starting this year, organisations across the world will experience another generational shift as Gen Alpha – today’s teenagers, born between 2010 and 2020 – begin to enter the professional realm. These digital natives have grown up completely immersed in technology, from AI-powered toys to virtual classrooms. Their experiences, shaped by pandemic-era disruptions and the ubiquity of social media, have cultivated a unique set of skills, values and expectations. Raised in a world shaped by rapid technological advancements, environmental challenges and unprecedented global connectivity, Gen Alpha is poised to redefine how we work, collaborate and innovate.
This research update explores the defining traits of Gen Alpha, the values they bring to the workplace and some future-proofing strategies that can help better equip CXOs to lead their organisations into this new era of work.
Last month, Donald Trump secured a decisive victory in the US presidential elections, marking the start of a transformative new era in American and global politics. IMA ran a series of sessions of the India CEO and CFO Forums, across cities, examining the impact of this landmark event. We hosted three recognised authorities on the subject: Pramit Pal Chaudhari, Head of the South Asia Practice at the Eurasia Group; Suhasini Haider, Diplomatic Editor at The Hindu; and Ambassador Ajay Bisaria, Distinguished Fellow at the Observer Research Foundation. These sessions delved into the implications of Donald Trump’s second presidency for geopolitics and the world economy.
This podcast synthesises the insights we garnered from our three experts.
Javier Milei assumed office, as President of Argentina, where the effects of fiscal irresponsibility, by populist Peronist governments, had reduced what was once a rich nation into the ranks of the third world, amid poverty rates of 50%. With inflation at 211%, practically no growth and reckless restrictions that created price distortions, Argentina has been in a miserable situation.
It took both courage and radical reforms to change course. Mr Milei, a self-declared libertarian, believes in free markets, soft touch regulation and expresses his hatred for a big state. His main economic argument is simple: the public sector in Argentina is too big as it crowds out private initiative. In short, there are too many Argentines living from government handouts and public sector jobs, the economy has been overly regulated and that regulation in turn strangles private enterprise. This podcast explains.
Transfer pricing (TP) remains a critical area for CFOs to track and monitor, particularly owing to the ever-evolving nature of TP regulations and deepening enforcement by the tax authorities. Some of the important changes in India’s transfer pricing landscape include the growing use of data analytics, SEBI's new focus on royalty payments as a payout mechanism from India, a growing emphasis on TP to boost tax revenues, a focus on dispute resolution through the Vivad Se Vishwas (VSV) scheme and a higher threshold for department appeals.
At a recent India CFO Forum session in Bangalore, Fatema Hunaid, APAC Transfer Pricing Lead at Grant Thornton, shed light on recent developments in this area, focusing on regulatory changes, the use of dispute management mechanisms and some best practices for MNCs to follow while navigating this complex domain. This podcast summarises these discussions.
Since the 1990s, neuroscience-related research has expanded significantly, uncovering the complex links between brain activity and decision-making. By understanding the neural basis of decisions, business leaders can make more informed choices and create better contexts for each decision. Neuromarketing – which uses neuro- and cognitive science to identify customer needs, desires and preferences – can serve as a powerful tool in any CMO’s arsenal. Similarly, a key part of a CEO's role is to influence behaviour at various levels to derive results. Neuro-tools provide a powerful means of obtaining insights that enhance the ability of CEOs to orchestrate the required behaviours in the organisation.
At a recent joint session of the India CEO and CMO Forums in Bangalore, Arvind Sahay, Director and Professor of Marketing & International Business, MDI Gurgaon, explored a range of neuro tools and their applications in business. This podcast summarises these discussions.
India’s banking sector is quite literally the life-blood of its economy. It powers both industry and consumption and channels savings to more productive uses. Over the last decade, the sector has seen critical reforms, an intense bad-loan clean-up, several waves of consolidation and has undergone a continuous process of maturation, making it one of India’s most technology-centric industries. Looking ahead, the government is expected to catalyse further reforms and take forward the process of PSU-bank consolidation, aside from bringing important changes to other parts of the financial-services sector.
At a recent India CFO forum session in Pune, Jaimin Bhatt, Group CFO of Kotak Mahindra provided a view for the banking sector and its role in funding industry. This podcast summarises these discussions .
Our recent, Q3 FY25 CHRO dialogue sessions in Bangalore focused on two criticallly important subjects: sustainability, and leadership imperatives in an age of digitalisation. Dr Sujiv Nair, Global Chief Human Resources Officer at Re Sustainability, kicked off discussions with insights on HR’s role in ESG. Next, Antony J Alex, Founder & CEO at Rainmaker, focused on how leadership styles are evolving in response to a changing world.
This podcast summarises these discussions.
India is on the cusp of an energy revolution, taking bold strides toward achieving energy independence by 2047 and net-zero emissions by 2070. We are pleased to share our latest research report, Green Hydrogen: A Catalyst to India’s Energy Independence, which was developed in partnership with Ayvens, one of the leading fleet leasing companies globally. The report, along with this podcast delves into the transformative potential of green hydrogen in decarbonising industries, revolutionising transportation and addressing climate goals.
As China grapples with the lingering aftermath of Covid-19, its economy is visibly slowing. A once-rapid growth path, driven by infrastructural spending an expanding workforce, is less certain. Coupled with geopolitical tensions and rising costs, China's role as a global production hub is changing rapidly. New stimulus measures have created excitement, but will they impact China’s medium-term growth prospects? Meanwhile, a fast-growing India offers major opportunities for businesses, including those pursuing a China+1 strategy, but its ability to absorb investment at scale remains an open question.
At a recent online India CEO Forum session, Professor Michael J Enright, Director at Enright, Scott & Associates and Choueiri Family Professor, Northeastern University, explored the critical shifts underway, examining both China’s and India’s medium-term prospects, and the opportunities they present to business. This podcast summarises these discussions.
The Production-Linked Incentive (PLI) Scheme, launched in 2021-22 as part of the Make in India initiative, aims to strengthen India's manufacturing across key sectors. With an allocation of Rs 109 billion, the food processing PLI scheme leverages India’s agricultural resources to boost production, exports and reduce import dependency. It incentivises incremental revenue and capital expenditure, driving investments and capacity creation.
We recently interviewed several member-companies that are participating in the food processing PLI scheme, to better understand their experience with the programme and any challenges they may be facing. This podcast summarises our findings, which hold lessons for similar programmes across sectors.
Cybersecurity risks continue to rise, with a reported 20% of Indian users falling victim to cyber threats in the first quarter of 2024 alone and several high-profile cases recently coming to light. Scams are becoming more sophisticated, targeting even well-informed individuals. At the same time, with rising penalties for non-compliance, companies are under pressure to tighten their defences.
At a recent cross-Forum online session, renowned cyber-security expert Amit Dubey shed light on the current cybersecurity landscape and outlined some best practices. This podcast summarises these discussions.
Donald Trump’s mandate, coupled with the fact that the Republicans are expected to control both the Senate and House, will give him ample sway over Washington. The fear propaganda tom-tommed by the Democratic party and the liberal media on Trump’s operating style, intended to raise alarm, fell to the wayside.
In his previous term, he cut taxes and deregulated the economy. The momentum of growth that America witnessed over the past four years is largely accountable to his policies. Often forgotten the fact that Mr Trump funded research for covid-19 vaccines, even if he dithered in urging Americans to take them. He displayed potency in his dealings with China something that the Obama administration failed to do. The Abraham accords that brought about diplomatic engagement between Israel and the Sunni monarchies, is the critical reason why the middle-east has as yet survived a bloody conflict.
Mr Trump will cut domestic taxes and impose import duties on countries with whom America suffers a serious trade imbalance. That might affect Indian exports and visas for IT companies and they need to be prepared. This podcast explains.
Today’s world economy is marked by volatile financial markets, high interest rates and geopolitical tensions. Both the global and the Indian economy face heightened uncertainty as market fluctuations and policy shifts redefine economic interactions.
At recent India CEO Forum sessions in Delhi and Mumbai, Adit Jain, IMA’s Chairman and Editorial Director, highlighted some key economic risks and opportunities, emphasising the need for strategic planning to navigate market volatility and geopolitical challenges. This podcast summarises these discussions.
The impact of US monetary policy spreads across the entire global economic architecture. Fund flows to emerging markets are directly proportional to interest rate differentials. This is logical, as investors seeking higher returns, move funds out of the United States. More recently, the Reserve Bank of India defied market hopes, leaving interest rates unchanged. Logically, therefore, we should expect greater stability in the value of the rupee, as in the values of the other emerging market currencies. The half per cent point reduction now places the Fed fund rate to be between 4.75% and 5%. The shift in the Fed’s stance towards monetary easing, suggests that inflation is firmly under control, or so the central bank would like to believe.
This podcast explains.
Sri Lankans, exasperated with corruption and crony capitalism amongst the ruling and business elite, voted for fundamental change. This constituted the basis of the support that drove the victory of Anura Kumara Dissanayake, an outsider from a Marxist political party, in the recently concluded presidential elections. Mr Dissanayake promised to renegotiate the terms of the IMF bailout, eliminate corruption and bring back money siphoned offshore by the previous ruling family – the Rajapaksa. Despite these endearing promises, Mr Dissanayake’s ability to deliver is either limited or completely lacking.
Clearly, India may have been better-off with a Premadasa victory, as relationships with him and his party are believed to be strong. Be that as it may, Mr Dissanayake may quickly discover that things are quite different when you are in government and actually have to make compromises vis-a vis as an activist.
This podcast explains.
IMA recently published its ‘Vision 2030: India’s Growth Frontiers’ report, which offers a comprehensive analysis of the factors driving the country’s economic transformation. This report aims to provide strategic insights and recommendations to navigate what is undoubtedly an exciting and dynamic environment, while decoding the nuances of India's economic journey in the years ahead. Given the sheer length of the report, we will be sharing bite-sized extracts from the study over the next few weeks.
The final episode of this series examines how infrastructure spending has been, and will remain a key driver of growth in the coming years.
The world economy is today delicately poised. America has avoided the recession that analysts have been projecting for over a year, but recent data indicate that it could be at a tipping point. China, meanwhile, is plainly amidst a slowdown while India continues to grow at a fair clip and the Eurozone presents a mixed bag. Guiding the forward view is a highly volatile geopolitical environment, marked by upcoming US elections, a potentially full-blown war in the Middle East and, for India, a new crisis in Bangladesh.
At recent joint sessions of the India CEO and CFO Forums across cities, Adit Jain, IMA India’s Chairman and Editorial Director, provided a medium-term view for the world economy, set in the context of an increasingly uncertain global politics. This podcast summarises these discussions.
India's agriculture sector is crucial for the country’s food security. It also supports the livelihoods of over 40% of the population and strongly influences the growth of consumer markets. An abundant monsoon this year, and favourable policies on minimum support prices (MSPs) and import duties will likely ease rural distress in the short term. However, the sector faces major long-term challenges, such as fragmented farm holdings, sub-optimal cropping patterns, under-investment in machinery and scientific methods and (especially in certain regions) a heavy reliance on rainfall. It is evident what needs to be done to reform the sector, but the political will to implement difficult choices is often missing.
At a recent all-Forum online session, the first in our ‘Sector Spotlight’ series, Harish Damodaran, National Rural Affairs and Agriculture Editor at The Indian Express, offered a forward-looking view on India’s agriculture landscape. This podcast summarises these discussions.
IMA recently published its ‘Vision 2030: India’s Growth Frontiers’ report, which offers a comprehensive analysis of the factors driving the country’s economic transformation. This report aims to provide strategic insights and recommendations to navigate what is undoubtedly an exciting and dynamic environment, while decoding the nuances of India's economic journey in the years ahead. Given the sheer length of the report, we will be sharing bite-sized extracts from the study over the next few weeks.
The second episode of this series looks at how India's consumer markets are transforming, reflecting broader shifts in its economy and society. For instance:
- High-income households will double by 2030 and upper-middle-class ones will surge by 60%, driving significant consumption growth. Per capita income may rise from USD 2,860 in 2024 to USD 4,660–5,500 by 2030, fuelling a consumption boom.
- With a young population and low dependency ratio, India’s demographic dividend will drive increased spending, especially among millennials and Gen Z.
- By 2030, over 40% of India will be urbanised, with rural consumption increasingly mimicking urban trends due to rising aspirations and access to modern retail.
- UPI and the internet are transforming consumer behaviour, with digital payments projected to drive 90% of e-Commerce transactions.
- Volume growth, premiumisation and modernisation will dominate, with rising demand for premium goods in categories like cars, air travel, and luxury goods.
- Indian consumers prioritise cultural authenticity over westernisation, with local values influencing consumption patterns, even as they modernise.
- Mobility and the internet are blending regional traditions, with younger consumers open to experimentation across food, fashion, and leisure.
US Treasury markets are suggestive of a cooling economy. Investors expect many rate cuts, as yields on bonds have refused to rise. Lower yields on long-term Treasuries, suggest that there is still a scramble to buy safe assets as volatility in riskier asset classes, specifically shares, will continue with further bouts of pounding.
Gold is in high demand – a situation that normally presents itself when other assets face trouble. It would be reasonable to assume that investors are no longer exuberant about market conditions, a phase usually associated as a forerunner to a correction. This podcast provides a perspective on commodities, markets and interest rates.
Recently, the government passed the Digital Personal Data Protection Act (DPDP). Its primary purpose is to regulate the collection and processing of digital personal data and respect individuals' rights.
The way the system will work is that the government will create a Data Protection Board, as the supervising agency to monitor, enforce rules and impose penalties when appropriate. The board would adjudicate a dispute between those whose personal data has been given to a platform and the platform which has in turn breached the obligations under the Act. Companies are understandably concerned that even unintended slips can lead to serious charges of violation. This opens up a completely new industry that promises auditing of an organisation’s processes to ensure compliance. The cost of doing business will consequently jump.
This podcast explains.
IMA recently published its ‘Vision 2030: India’s Growth Frontiers’ report, which offers a comprehensive analysis of the factors driving the country’s economic transformation. This report aims to provide strategic insights and recommendations to navigate what is undoubtedly an exciting and dynamic environment, while decoding the nuances of India's economic journey in the years ahead. Given the sheer length of the report, we will be sharing bite-sized extracts from the study over the next few weeks.
The first episode of this series looks at the both the drivers and the challenges that will shape the India of 2030, including:
- Economic Growth: India’s GDP could reach between USD 5.2 trillion and USD 7.8 trillion by 2030, greatly boosting per capita income and consumption.
- Consumption-Led Expansion: By 2030, India will be one of the world’s main growth drivers, with private consumption exceeding 60% of GDP, supported by a young population and rising incomes.
- Sectoral Shifts: Agriculture's share will decline, while services, manufacturing and infrastructure will dominate the economy.
- Capital Inflows: Strong FDI, particularly in services and IT, coupled with evolving financial markets, will open new opportunities for growth.
- Challenges: Key risks include low investment rates, fiscal pressures, declining savings, skill gaps and inadequate social security. These must be addressed to sustain growth.
The new government's maiden Budget introduces significant changes impacting businesses, including revisions to the capital-gains regime, dispute settlements, reassessments, buy-back taxation and the FDI rules. Significantly, the tone of the Budget speech mirrored this year’s Economic Survey, signalling a coordinated approach to economic policymaking. Notably, the Finance Minister has set a six-month timeline to introduce a new Direct Tax Code, replacing the outdated 1961 law. Additionally, a committee will review customs tariff duty structures, with recommendations expected soon.
At a recent India CFO Forum session in Delhi,Mukesh Bhutani, Managing Partner, BMR Legal, reviewed these changes and outlined the likely future direction of tax law and investment-related rules and regulations. This podcast summarises these discussions.
During a briefing at IMA’s CEO Forum, Jonty Rhodes, a prominent cricketer, explained that as a member of the South African squad, he observed his captain Hansie Cronjeplay decisively to each member’s strength. Everybody could simply not be exceptional at everything and as long as each team member did his job, success was near assured. Unlike Jonty, most motivation speakers tell stories on attributes of personal achievement, which include routine, discipline and an unrelenting yearn to succeed. Inspiring as these anecdotes are, the underlying messages on leadership and management is usually muted, in what they offer as take-aways for business managers to apply in the work place. Human Resource Managers who are frequently responsible for putting together the company offsite, or leadership development programmes, must remember this distinction as this podcast explains.
Sheikh Hasina's sudden downfall has upended Bangladesh’s politics. It may also disrupt a strong India-Bangladesh relationship that helped stabilised the Eastern border for 15 years. While shared interests and careful diplomacy may preserve ties, the potential commercial and geopolitical fallout could be significant.
At a recent all-India, cross-Forum session, Pramit Pal Chaudhuri, South Asia Practice Head, Eurasia Group, Fellow at the Ananta Aspen Centre and Editor of the Quad+ Journal, discussed how the situation in Bangladesh might evolve and the implications for India, both geopolitically and for businesses operating in the region. This podcast summarises these discussions.
The failure of private investment to perk up, has been a source of worry. Private investment scores have essentially declined since 2012. Despite the government’s cajoling, through PLI based incentives, and the slashing of corporation tax, inhibitions remain amongst a sceptical business constituency to take the punt and expand capacity.
One reason for the blame is possibly low household consumption, a trend that has now lasted for nearly a decade, particularly after the Covid 19 pandemic. Another reason, as some economists have argued, are structural problems that endure in areas such as labour reforms. This podcast explains.
At our inaugural India CHRO Forum Dialogue in Pune, our first session was led by Gauri Kirloskar, Managing Director at Kirloskar Oil Engines, who offered a simple playbook for today’s culture agenda, helping business and HR leaders understand why culture matters, what it entails, and how to create or change it. In the day’s second session, Rajat Sethi, IMA’s Chief Policy Analyst and one of India’s leading political commentators and public intellectuals, provided an economic, political and geopolitical overview, both domestic and global.
The attached conclusions paper summarises these discussions
This year, dozens of major countries will hold (or already have held) elections. There are also important developments underway in the economic realm, both globally and in India. At a recent joint session of the India CEO and CFO Forums in Pune with Rajat Sethi, IMA’s Chief Policy Analyst and one of India’s leading political commentators and public intellectuals, we explored the impact of India’s recent election results, including on the new government’s likely policy priorities. This podcast summarises these discussions
Markets across the world came under a bout of bear hammering on the 5th August. US unemployment which had fallen to a new set of lows, began edging up again and inflation pressures eased. All of this contributed to the sell off, but the key reason was the unwinding of the yen carry trade - which involves borrowing in yen at minimal cost and investing in higher yield assets overseas.
This strategy adopted by punters worked very effectively over the course of the last decade, as the yen continued to weaken. But now, as the attached paper explains, the situation has turned upon its head. The Bank of Japan has started to increase interest rates and over the coming two or three years the yen is likely to strengthen. The carry trade has begun to reverse. Going forward, this will create market volatility across the world, as well as a correction in asset prices. Liquidity is bound to be affected.
The recent developments in Bangladesh, leading to the ouster of Prime Minister Sheikh Hasina Wazed, were in many ways not dissimilar to what happened in Sri Lanka a few years ago. Civil Society anger against the ruling establishment had been pent up for several years, so when a peaceful demonstration by students began a couple of months ago, it quickly turned violent.
Hundreds of students were killed by paramilitary forces. However, on the 5th August, it became abundantly clear that Hasina's position was no longer tenable. The attached paper provides a background of what transpired in Bangladesh. The political turmoil brings with it a fresh set of headaches for the Indian government.
The real challenge in employment generation stems from the fact that the manufacturing industry is not investing nearly enough towards the creation of new capacities. One reason is a softening in consumer demand, but there is also the issue of Chinese dumping. This podcast explains.
The pressure of delivering strong results quarter after quarter can tempt even the best companies to be myopic about ethics and fair business practices. Sometimes, this gives rise to the sort of scandal that can destroy the very foundations of a business. While some may view 'fair practices' as resource-draining and growth-impeding, companies that adopt a values-based approach to ethics and compliance gain a long-term competitive edge in the marketplace.
At a recent joint session of the India CEO and CFO Forums, Sabina Sudan, corporate lawyer, and active speaker on ethical and legal issues, discussed effective strategies for melding profitable growth with ethical practices, and how organisations can embed ethics into the corporate culture, including in its code of conduct, CSR initiatives and whistle-blower policies.
The rupee recently hit a new low against the US dollar on the back of rising safe-haven demand for the Greenback and a reversal of the US interest rate cycle. The RBI hopes to contain the fall by keeping domestic interest rates up, but this has created a double whammy for corporate and retail borrowers, who will now have to grapple with higher debt-servicing costs.
At recent IMA CFO NxT Forum Sessions, Manoj Goel, Managing Director & Head of Corporate Sales, Markets & Securities Services for HSBC India, offered a forward view on currency markets and the economic, geopolitical and electoral factors driving them. This podcast summarises these discussions.
A key part of a CEO's role is to orchestrate actions by the team he or she leads, influencing behaviour at various levels. This can mean changing habits and routines within the organisation, as well as effectively managing the emotional ‘climate’. These actions are dependent on how well the CEO can leverage the way people’s minds work. Neuroscience and cognitive science can, with the aid of neuro tools, provide a powerful means of obtaining insights that enhance the ability of CEOs to orchestrate the required behaviours in the organisation.
At a recent India CEO Forum session in Mumbai, Arvind Sahay, Director and Professor of Marketing & International Business, MDI Gurgaon, explored a range of neuro tools that are now available and their applications in business. This podcast summarises these discussions.
At a recent India CFO Forum session in Mumbai, Ramit Gupta, Partner at IBM Consulting, and Kumar Subbiah, CFO & ED at CEAT Tyres, shared practitioners' perspectives on AI in Finance, offering insights from their experiences. The session delved into examples of successful end-to-end process optimisation and the challenges faced in implementing AI and other emerging solutions in Finance.
This podcast summarises these discussions.
The recent Indian general election was not defined by a clear, sweeping mandate. Rather, the BJP's victory was the culmination of several intertwining factors —ranging from caste and religious considerations to nuanced sub-regional dynamics and strategic candidate selections. During a recent joint session attended by IMA India’s CEOs, CFOs, CHROs, CMOs and CFO NxT Forum members, R Jagannathan, Editorial Director at Swarajya Magazine, delved into the post-election landscape, highlighting the missteps that led to the BJP falling short of a majority. Moreover, he offered insights into the anticipated trajectory of the Modi 3.0 regime and its potential contours. This podcast summarises these discussions.
With rising global temperatures and a domestic air-pollution crisis, environmental factors will come to occupy an increasingly important place in corporate decision-making and operations. The intense heat waves seen this year across India only underscore the urgency of the situation, both for businesses and for society at large. Higher-than-average temperatures present a real threat to human life and health, and workplace design and policies must account for this. More generally, air pollution demands longer-term, strategic responses by corporations as well as short-term mitigation.
At a recent online session of the India CHRO Forum, Bharati Chaturvedi, Founder and Director of the Chintan Environmental Research and Action Group, and a member of several government bodies and committees, explored both the science and the human-resource implications of the twin crises of climate change and pollution. She also looked at what businesses can do, both to safeguard their people and to give back to society.
India’s technology-regulation environment has seen major developments in the last 12 months, and further changes are likely once the new government settles in. The passage of the DPDP Act last August means that India now has a robust data-privacy law for the first time. Meanwhile, the draft Digital India Bill covers a range of issues around cyber security and data protection. Recent indications are that the government may also soon move to frame regulations in the AI space. All these changes create new complexities and challenges for Finance heads, who are the ultimate owners of risk and compliance within the organisation.
At recent IMA CFO Forum Sessions, Arun Prabhu, Partner and Head - Technology & Telecommunications at Cyril Amarchand Mangaldas, offered insights on existing and potential new regulations as well as some best practices for CFOs.
The podcast summarises these discussions.
In all the coverage surrounding the parliamentary elections, it may have slipped the attention of a few that India signed a deal with Iran on developing and operating the Chabahar port. As this podcast explains, this is geopolitically significant.
Global geopolitics is in a state of turmoil unseen in decades. Europe and the Middle East are at war and there is a risk of these conflicts spreading. National security and energy supplies are therefore of real concern. Adding to the worry is the escalating rivalry between America and China, and the fact that rising nationalism is creating new barriers to flows of people, goods and investment across borders. At recent sessions of the India CEO Forum in Pune and Bangalore, Pramit Pal Chaudhuri, South Asia Practice Head for the Eurasia Group and former Foreign Editor of the Hindustan Times, outlined how geopolitical factors will impact businesses over a medium-to-long-term horizon. This podcast summarises these discussions.
As global temperatures rise inexorably, governments and companies are coming around to the concept of net-zero. Simply put, net zero means cutting emissions to a bare minimum and then absorbing and/or durably storing the residual emissions, leaving ‘zero’ in the atmosphere. What, though, does making such a commitment mean in practical terms – from either a national or a corporate perspective? What can businesses do to move in this direction, and how can they benefit from doing so?
At a recent joint session of the India CEO and CFO Forums in Delhi, Jayant Sinha, a two-term Member of Parliament, and Chairperson of the Standing Committee on Finance, provided insights from both a policy and business standpoint on this issue. He also discussed how the net zero development model may unfold across various sectors, and the steps that leading businesses can take in this sphere. This podcast summarises these discussions.
At a recent India CEO Forum session in Chennai, Dilip Sawhney, Regional Vice President of Rockwell Automation, provided a perspective on how digitisation and automation are impacting the manufacturing sector. This podcast summmarises the discussion.
The use of consultants, towards the formation of business strategy, has had mixed results. Some companies claim they were a game changer, whilst others strongly disagree. It’s hard to conclude authoritatively with numerical evidence, either way. But what is clear is that they charge a lot. What is not clear though is whether what they do cannot be done internally.
Companies have begun to internalise the strategy process, through the formation of a dedicated team, as this paper explains. For many, it has worked beautifully.
A retirement age of between 58 and 62 years, leaves a decade for active engagement. Some prefer to use this freedom, from regimented employment, to pursue personal interests and leisure. Still others seek to remain professionally involved by lending their skills and knowledge, acquired over decades, for the benefit of others. It is a win-win, where the individual monetises her experience and an organisation, gains from it in a cost effective manner.
Lending time to boards of other companies is enriching both professionally and financially. CEOs and function heads could actively pursue these opportunities - not necessarily with large public listed companies, but rather with the mid-sized owner managed ones. The attached paper explains. I hope you would find it in order.
Forward premiums, play a critical role in foreign exchange markets. They are the difference between the spot rate and the forward exchange rate. They represent either a premium or a discount at which a foreign currency is valued in the forward markets, when compared to its current value. Premiums, consequently, provide insights into the market’s outlook, investor sentiments and the likely direction of exchange rate movements.
Forward premiums are, in addition, influenced by market expectations and risk perceptions. When interest rate differentials between the United States and India narrow, it tends to reduce the attractiveness of holding rupee forward contracts, leading to a decrease in the forward premium. This podcast explains.
Gen Z are different to their bosses. Their job is only a small part of their identity and they make that abundantly clear in the work place. They value empathy at work and frequently consider it a precondition. Their bosses, on the other hand, do not place as high a value on this attribute.
They want to feel respected rather than solely measured for productivity, which is what most companies prefer to focus on. Contrary to popular perception, studies have shown that Gen Z do want job stability and financial security. Many are active investors in financial markets as the primary platform for wealth creation, as opposed to the brick-and-mortar investments in homes and real-estate, preferred by their parents. This podcast explains.
At our recent Q4FY24 India CHRO Forum Dialogue in Mumbai, Jaspreet Bindra delved into the influence of AI and Gen AI on business operations and societal dynamics. Following this insightful discussion, Rajesh Mani elaborated on the crucial role played by CHROs in shaping the organisational culture. This podcast summarises these discussions in greater detail.
Driven by regulators, customers and investors, ESG represents a unique opportunity for businesses to transform themselves. Getting the ‘green transformation’ right involves building a comprehensive strategy that integrates sustainability into operations; and carefully evaluating the firm’s environmental impact, community engagement and governance beyond numerical targets.
At a recent India CFO Forum session in Delhi, Abhishek Tripathi, Partner – ESG at Grant Thornton, shared insights on how ESG is becoming an imperative mandate for businesses and the Finance’s role in this transition.
This podcast summarises these discussions in greater detail.
Our recent Q4 FY24 CHRO Dialogue in Delhi had sessions on diversity, equity and inclusion (DEI) led by Dr Abhishek Tiwary, Senior Vice President, Human Resources Tech Mahindra; and on Generative AI (GenAI), led by Jaspreet Bindra, Managing Director and Founder of Tech Whisperer and author of the bestselling book, ‘The Tech Whisperer: On Digital Transformation and the Technologies that Enable it.’
This podcast summarises these discussions.
No more than a decade ago mental health sadly, carried a stigma which prevented patients from even discussing it within their own families. Fortunately, that has now begun to change. The issue gained recognition and importance during the extended lockdowns in the aftermath of the Covid 19 pandemic. Subsequently, employers acknowledge this as something that could no longer be ignored and needed to be grappled with.
As our research report suggests, employers are taking corrective steps in the right direction to provide support and therapeutic assistance to workers, who suffer from this unfortunate ailment. The fact is, it is so easily treatable, only if awareness could be spread, symptoms recognised and medical intervention sought. Mental health has business repercussions, as the productivity rate of employees falls drastically and burnouts happen faster. This may not, as the usual impression goes, yet affect the overall business and the culture of an organisation, but the reality is quite different. The reason is the problem is far more widespread than many are prepared to admit or even recognise. Consequently, employers have a moral obligation in this regard.
This podcast offers a perspective.
The odds of a second Trump presidency are a little better than the outcome of a toss of a coin. It all boils down to 7 swing states, which have over recent history been pivotal. The real issues to grapple with are the likely policy shifts that may take place under a second Trump administration. This could be across the entire spectrum from geopolitics, energy, security, trade and investment, immigration amongst others. These will impact global supply chains (both manufacturing and services) , and consequently, business enterprise, even those operating in India. This podcast presents a perspective.
What does it take to start and grow a business in a sector as challenging as civil aviation, with all its regulatory complexities, infrastructural constraints and price-sensitive consumers? What lessons can other industries draw from the experience of IndiGo, India’s largest and most profitable airline, which, through relentless innovation, managed to carve out a niche for itself? How is the entry of Akasa Air, the ‘new kid on the block,’ reshaping an already turbulent sector?
Aditya Ghosh, a seasoned business leader with over 22 years of experience and Co-Founder of Akasa Air, who previously spent a decade on the Board of IndiGo, answered these questions at a recent session of the India CEO Forum in Delhi. This podcast summarises the discussion.
After decades of being burdened with leftist Peronists, Argentina finally elected Javier Milei a self-described libertarian. Mr Milei had campaigned on a promise of small government and a passionate commitment to fixing Argentina’s crumbling economy.
An economic paradox of sorts, in the first few decades of the 21st century, Argentina was one of the world’s richest countries. It is now an economic disaster. Burdened with unsustainable debt and very high inflation, Argentina has consistently defaulted on its commitment to international creditors. Mr Milei brings a fresh promise to fix its economic architecture. This podcast explains.
Simon Kuznets, a Nobel Prize-winning economist, once remarked that there are four types of countries – advanced economies, emerging markets, Argentina and Japan. Japan, which has over the years and despite a series of policy efforts, remained plagued with price deflation and feeble growth.
But a new worry that it is now struggling with is the massive debt burden of its government. With rising interest rates, this may become unsustainable. Also burdened with a declining workforce and possibly a shrinking economy, Japan will tragically lose its influence in Asia. That cannot be construed as good news. This podcast explains
At a recent, half-day India CHRO Forum meeting in Bangalore, IMA India had sessions on building a high-performance culture, and on identifying and managing unconscious bias - which can be a serious impediment in any business.
Fidelity National Financial (FNF) India stands out within India’s fast-growing Global Capability Centre (GCC) space. It is one of the rare GCCs to have an independent P&L mandate – one that is supported by a high-performance culture that remains solidly employee-centric. This unique mix has allowed FNF to move steadily up the ranks on the Great Places to Work (GPTW) list. What does it take to build and sustain such a culture? How did HR and the CEO’s office work together to enable it? George Inasu, FNF India’s Managing Director and Country Head, answered these questions while tracing FNF’s unusual story.
Unconscious biases are ingrained prejudices or attitudes that subtly influence a person’s perceptions, decisions and actions. Smita Tharoor, motivational keynote speaker and thought leader on the unconscious bias, and the founder of Tharoor Associates; and Sriram S., award winning Happiness@Work, author of ‘Happiness Habits’, certified life wisdom and unconscious bias coach and a featured speaker at TEDx, explored unconscious bias in daily life and workplaces and delved into manifestations and impacts in gender differences. They further uncovered its effects in work settings and discussed constructive management strategies to address and mitigate such biases effectively.
This podcast summarises these discussions.
With 2024 around the corner, it is a good time to take stock of the prospects for global – and Asian – growth. China is visibly slowing, part of the eurozone are in recession and America may not be able to hold off a downturn for much longer. Added to this mix, geopolitical risks have spiked and elections are due in India, the US and probably the UK.
At a recent joint online session of the India CEO and CFO Forums session, Richard Martin, Founder and Managing Director of IMA Asia, assessed the risks and opportunities that lie ahead and offered unique insights from an East-Asian vantage point. This podcast offers a brief summary of the session
Over the coming decade, some countries will do a lot better than others. India, for instance, is likely to emerge as the world’s fastest growing large economy just as China’s growth begins to moderate. Businesses will need to realign their strategies under these changing market conditions to seek out opportunities and refigure their supply chains.
The critical question for strategists is the management of risk - is the greater risk the investment committed to tap future opportunities going sour (should they fail to materialise) or is it the failure to tap it and lose both market share or an opportunity?
The rise and fall of countries in the global pecking order, is based on their ability to efficiently use capital and other resources. Clearly, it helps to avoid bad politics.
Over the course of the last five decades, the global economic map has transformed radically. In the coming decade, there will again be a new set of winners and losers. This paper is the first in a two part series that looks at historical changes and our assessment of the future. It is based, largely, on the commentary by Richard Martin, Managing Director of IMA Asia, our sister company, at a joint session of the CEO and CFO Forums.
Private equity investor, philanthropist and educator – Ashish Dhawan has worn many hats over the course of his career. He currently runs The Convergence Foundation (TCF), which he set up a few years ago to help drive change at a public-policy level.
At a recent online session of the India CEO and CHRO Forums, he shared insights, drawing on his long and varied career, on how business, education and the not-for-profit sectors intersect in India. He also discussed how he used his learnings from the private sector to help build one of India’s leading educational institutions, Ashoka University, and more recently, to establish TCF.
This podcast summarises these discussions
India is in the midst of transformative change, economically, geopolitically and in terms of public policy. Savings are moving from fixed assets (real estate, gold) to financial ones. Equally, capital markets are fast replacing banks as a source of growth funding.
During IMA India's espresso session last week, we shared the findings of the 2023 Personal Finance and Wealth Management Survey. With about 360 respondents, the data generated was robust both in terms of our ability to undertake correlations and generate meaningful insights for practical use.
The report will be shared over the coming days. During the session, participants raised questions in relation to personal finance and this podcast will provide a perspective on some of these.
In a digital world, transfer pricing (TP) dynamics are constantly being disrupted and CFOs must grapple with ever-greater complexity on this front. At a recent India CFO Forum session in Delhi, Vijay Iyer, Partner and National Leader, Transfer Pricing at EY India, shared insights on how companies are dealing with TP disputes and the role of advanced pricing agreements (APAs) in that. He also shared his views on recent developments in the area of base erosion and profit shifting (BEPS), especially its 2.0 version.
This podcast offers a brief summary of the session along with a fuller commentary on the subject.
In recent years, the issue of sustainability has gained vastly in prominence – and with it, so has the need to incorporate it in financial reporting. Traditionally, the two have been kept separate, but today, SEBI’s BRSR, the IFRS S1 and S2 standards and Ind-AS all have provisions for including sustainability-related issues in financial statements.
At a recent session of the India CEO and CFO Forum in Mumbai, MP Vijay Kumar, Executive Director and Group CFO of Sify Technologies, decoded these standards and their implications for Finance. The podcast offers a brief summary of the session along with a fuller commentary on the subject.
The Make in India scheme comes with two props. First incentivise local production and second curtail imports. Ultimately, it is the policy intent of government that should a business want to sell in India, it would have to make manufacturing commitments. This podcast explains.
How much is something worth? Whilst there are several answers to this question, it ultimately boils down to what someone is prepared to pay for it. Everything else is speculation. The valuation of a business is the financial process of calculating its economic worth. The route of acquiring a business involves two important considerations. First, arriving at a price based on a valuation methodology; and second, undertaking comprehensive due diligence to primarily verify its true assets, liabilities, potential for growth and, most importantly, hidden risks. The due diligence exercise has several props.
This podcast explains.
Often, compliance-related rules and regulations are framed while keeping in mind the lowest common denominator. One such area, where recent tweaks in guidelines and regulations are proving burdensome, is Related Party Transactions (RPT). Two areas need attention. First, recent amendments to existing guidelines expand the scope of what would be described as a related party (RP). Second, the criteria for what constitutes ‘materiality’ have become more stringent.
At a recent joint session of the India CFO and CEO Forums in Hyderabad, Hufriz Wadia, Partner with AZB, provided a template through which to understand these amendments. This podcast offers a brief summary of the session.
In recent years, the issue of sustainability has gained vastly in prominence – and with it, so has the need to incorporate it in financial reporting. Traditionally, the two have been kept separate, but today, SEBI’s BRSR, the IFRS S1 and S2 standards and Ind-AS all have provisions for including sustainability-related issues in financial statements.
At a recent session of the India CFO Forum in Pune, MP Vijay Kumar, Executive Director and Group CFO of Sify Technologies, decoded these standards and their implications for Finance. This podcast offers a brief summary of the session.
The productivity gains realised by the manufacturing sector in the last decade have been a critical component of its growth. Much of these gains were made possible by the adoption of technology and digitisation along the entire manufacturing value-chain. A process that began over two decades ago with the invention of computer-aided design and production has leapt forward with the growing adoption of AI.
At a recent India CEO Forum session in Pune, Dilip Sawhney, Regional Vice President of Rockwell Automation provided a perspective on how digitisation and automation are impacting the manufacturing sector.
This podcast summarises key takeaways from the discussion
In recent years, India, like other countries, has faced challenges such as the global pandemic and the resultant supply-chain disruptions. However, it has also created many new opportunities for itself. These opportunities are coinciding with a rising middle-class population and rapid urbanisation. India’s potential is at last being realised and this pivotal juncture in the country’s history is marked by unprecedented transformation, effective political leadership and the unwavering strength of its society.
As the Indian market continues to surge, it is crucial for businesses to keep up with a fast-shifting landscape. At a recent India CHRO Forum session, Deepak Bagla, former Managing Director and CEO of Invest India, discussed the potential of the Indian market and the pivotal factors that will fuel growth over the next 5-7 years.
This podcast summarises key takeaways from the discussion.
On paper, the BRI comprised an ambitious plan to connect parts of the globe through land and maritime routes, as the basis for trade. In reality, results have been mixed. Some countries benefited from China’s financial clout; still others, have fallen into a debt trap and a vicious cycle of dependency. This podcast explains.
Passive investing is now recognised as the ideal option for those seeking to take punts on the equity market. Despite what investment managers might say, the evidence is clear that ETFs provide flexibility, tax advantages and transparency. They are much cheaper, as the brokerage paid is a fraction of what mutual funds would charge.
There is evidence to suggest that on an average, actively managed funds perform below the benchmark set by ETFs, as the attached paper on Personal Finance explains. I trust that you would find this in order.
Most blame the judiciary as being primarily responsible for the volume of unsettled cases. A closer examination, however, suggests there is much more to this than meets the eye. As it happens, the government and its associated entities play the overriding role in burdening the Indian legal process. This podcast explains.
Real estate in China constitutes a fifth of GDP and is weighed down by a combination of untenable debt and scant demand. It is now clear that the trajectory of growth, over the course of the last two decades in China, can now no longer be sustained. A combination of debt, price deflation and demographic debility has begun to express itself in economic trends.
In the early 1980s, China’s GDP per person was about the same as that of India; now it is ~13,000 USD. However, there are reasons to suggest that it is unlikely to break out of the middle-income trap in a hurry, something that very few countries have managed to achieve. One could therefore argue that the Chinese marvel is over. This podcast provides a perspective on these issues.
The way currency markets function is that they are self-enforcing. An increased demand for a particular currency tends to drive up its value, and as expectations set in about further gains the demand only increases. This is the imperative that creates short-term volatility. In the longer term, however, the key factors that investors look towards, include economic growth and stability, with effects on consumption, employment levels and market confidence. Inflation and price stability, are also important.
This podcast presents Adit Jain's thoughts on the outlook for the rupee.
India’s debt market, is still nascent. It has the promise of enormous growth if the various barriers constraining it are eventually addressed. This requires a multi-pronged approach that includes policy reforms, developing the infrastructure, incentivising participation from domestic and foreign investors and, most importantly, educating them on how it works and why it is important from a portfolio diversifying perspective. Going forward, the market for debt must be wide and deep as it should be a vital source of capital and, consequently, economic growth.
The factories of the future will consist of machines, packed in a complex format, producing precision goods with practically no human intervention. Previously, this was considered within the realm of science fiction. Now, that is no longer the case.
Analysts suggest that private consumption in India will touch USD 6 trillion by 2030. Perhaps, this might seem optimistic but the reality remains that the growth anticipated over the coming 5 to 7 years would certainly be brisker than that demonstrated over the last decade.
As strategists work through their outlook for 2030, they must recognise the fact that India’s rural market opportunity is poised to undergo alluring changes. The transitions taking place are hastening rural market transformation and leading the charge is the growing acceptance of digital technology, e-commerce and online banking. Everything in business begins with connectivity. If you can reach customers, then you have a market. On this score India’s performance over the last 7 years is unprecedented.
The rural market opportunity, just as the India potential, has been spoken about for two decades. But, this time around, it seems real. This podcast explains
Generative AI has been hailed as a game changer that will impact and even enrich our personal lives. It is also expected to affect the way we manage businesses and possibly every function within an organisation. The ability of organisations to adopt AI will play on their competitive ability even if the technology is still in its infancy and the entire scope of its applications has not yet been explored.
At recent India CEO and CFO sessions in Bangalore, Hyderabad, Pune and Mumbai, Amit Dubey, a leading Cyber Security Expert, helped acquaint us with this revolutionary technology, its future applications and how companies may leverage generative AI in the years ahead. The attached paper offers a brief summary of the session along with a fuller commentary on the subject,
The US dollar has long been the world’s dominant currency and accounts for the bulk of central banks’ foreign currency reserves. Lately, however, the dollar’s share in ‘allocated' global reserves has dipped sharply. Geopolitical conditions have sparked discussions on 'de-dollarisation.' While the dollar's supremacy is likely to persist, alternative settlement systems could challenge its widespread role in the future. This podcast explores the diversification away from the dollar, in light of emerging bilateral settlement systems.
A rapidly shifting business landscape, driven by automation, digitisation, and artificial intelligence, has impacted organisations across sectors. Technological transformation has resulted in shorter career horizons and rising attrition rates. To address these challenges, organisations need to adopt new approaches to talent management and career development.
At a recent India CEO Forum session in Chennai, Krish Shankar, who recently retired as Group Head of Human Resources at Infosys, shared his views on tackling today’s people challenges, and the benefits that come from building a strong and effective organisational culture. This podcast offers a brief summary of the session along with a fuller commentary on the subject,
The culture of organisations is what ultimately sets it apart from the competition. It frequently characterizes its competitive place and is the backbone of a winning strategy. It attracts talent and builds goodwill amongst employees, vendors and customers. In the final count, it is the key thing that companies must focus upon.
The attached paper explains.
At a forum session led by Krish Shankar (Former CHRO of Infosys) the importance of ‘re-onboarding’ was made explicitly clear. From his vast experience in dealing with HR policies and a younger generation of employees, Krish argued that most companies should expect a 25% churn within 3 years of a worker coming on board. The only way to reduce this unacceptable level of attrition is to retrain, manage growth aspirations and re-induct them, so to speak. This podcast explains...
Most forecasters including IMA had predicted that China’s reopening, post lockdown, would create an economic boom of unusual proportions. That has failed to occur. In fact, following the initial couple of months, where pent-up demand unleashed itself upon the market place, the consumption bubble rapidly deflated.
A prolonged recovery in China will require broad, sustained improvements in exports and investments. This would be subject to the vagaries of external consideration – developments in the economies of China’s trade partners. Currently, many seem to have avoided a recession, but the jury is still out. Central banks across the world are raising interest rates to tame inflation and consequently may force a recession in their markets, in order to avoid an even worse scenario of a hard landing. As America and Europe begin to slow, Chinese exports will be affected and consequently, so will investment.
The pace of digital transformation across sectors, while revolutionary, presents critical challenges with regard to securing an organisation’s digital assets
At recent sessions of the India CFO Forum across cities, which were run in collaboration with Microsoft India, panellists from diverse industries, together with renowned cyber-security expert Amit Dubey, led discussions on how businesses can build resilience in the face of growing cyber-threats. They also looked at the CFO’s role in this process. This podcast summarises the discussions
Companies are embracing more environmentally conscious business strategies. Aside from being good for the planet, this Remakes good business sense. Not only does it help shape a positive image of the company among younger generations of workers, who seek to work with sustainable corporations, but increasingly, it is an important factor for investors.
At a recent IMA India CEO Forum session in Pune, run in collaboration with Radiance Renewables, Anirban Ghosh, Chief Sustainability Officer, Mahindra Group and S Manikkan, Co-Founder and Director of Radiance Renewables, discussed the business needs and opportunities around ESG, and the long run sustainability of such strategies. This podcast offers a summary of the session along with a fuller commentary on the subject.
Several initiatives provide platforms for engagement in further strengthening the bilateral relations between the US and India. Amongst them is India’s membership of the Quad, the Clean Energy Agenda Partnership 2030, the Indo-US Initiative on Critical Technology and finally, I2U2 - a four-nation pact including UAE, Israel, USA and India.
There are five key drivers to Indo-US relations. Most significant among them is India’s powerful diaspora, comprising strong lobbies with influence and wealth. Several Indian-Americans now hold critical positions in the administration and Congress, and head some of America’s largest corporations. India's Prime Minister, Mr Modi has shrewdly exploited this to India’s advantage.
This podcast narrates Adit Jain's latest essay on Indo-US relations, which could, with a bit of luck, emerge as the defining partnership of the 21st century.
Study after study reveals a dismal record for mergers and acquisitions (M&A), with most merged entities failing to achieve the projected synergies. A primary reason for this is the failure of acquiring companies to create and implement a comprehensive post-acquisition integration process that minimises the clash of competing cultures.
At a recent India CFO Forum session in Pune, S Krishnakumar, MD and CEO of Shriram Pistons & Rings, decoded the challenges and risks involved in mergers and acquisitions and shared some dos and don’ts to keep in mind. This podcast offers a brief summary of the session.
In life, as in the work place, individuals are different, with distinctive strengths and frailties. It would appear pointless to try and straighten out failings especially of a sort that are ingrained in the very character, personality or instinctive capability. Leaders, therefore, play to people’s strengths. That’s where they get the biggest bang for their buck.
This podcast provides a perspective on leadership attributes.
India’s growing importance on the global stage is the result of a culmination of several factors. At the forefront of these are the extensive economic reforms undertaken by the administration of Prime Minister Narendra Modi.
At a recent joint session of IMA India’s CEO and CFO forum, Sanjeev Sanyal, member of the Prime Minister’s Economic Advisory Council and Secretary to the Government of India, walked us through some of the key economic policies implemented so far and what lies ahead.
This podcast offers a brief summary of the session along with a fuller commentary on the subject.
There are three essential considerations on whose premise the country’s economic policy would be ascertained.
First, above everything, is the issue of macroeconomic stability. This specifies a clear mandate to the Reserve Bank of India (RBI) to ensure that inflation remains within a band of 2-6%. Second, the importance of accumulating foreign exchange reserves. Third, the government will focus on supply-side issues, rather than demand and therefore, seek investment driven growth. This podcast explains.
Every building occasionally needs a new coat of paint. Similarly, a brand – which is really a business’s public face – sometimes needs to be refurbished to maintain or enhance its appeal. In essence, rebranding involves reimagining the company’s marketing strategy, such as by changing its name, design aesthetic, product portfolio or logo. This sounds deceptively easy; the reality is quite different. Before embarking on a rebranding mission, business leaders must be cognizant of the risks involved. This podcast explores the right (and wrong) reasons to rebrand
Study after study of merged businesses reveals a dismal record of failure in achieving the projected benefits. A primary reason is the failure of the acquiring company to implement integration processes that can manage the clash of two competing cultures.
At a recent India CFO Forum session in Chennai, Sugata Sircar, Executive Director Finance & Group CFO, Azure Power decoded the elements of an effective post-acquisition integration process, some of the best practices to apply and pitfalls to avoid, using the real-life example of Schneider Electric’s acquisition of L&T’s E&A division. This podcast offers a brief summary of the session along with a fuller commentary on the subject
Libor will cease to exist with effect from June 30, 2023. The benchmarks replacing it are better structured. As a start there is one for each of Libor’s five currencies – the secured overnight financing rate Sofra for the dollar, Sonia for the pound, Tonar for the yen, Saron for the Swiss franc and the euro short-term rate (€str) for the euro. The way this works is that they measure borrowing costs on actual transactions, rather than trusting bankers to respond honestly to a daily questionnaire, as was the basis of determining the Libor rate. The US dollar Sofra, report rates in the repo market (for loans secured against government bonds) rather than for bank deposits. CFOs, specifically those with large treasuries, are struggling through this transition on negotiations with lenders and money managers. It will be a few months before things begin to settle.
This podcast provides a history of Libor and the events that have led to its demise.
IMA India recently organised its first quarterly CHRO Dialogue in Bangalore for FY24. The discussion was spanned across two major themes namely, changing geopolitical order and its implications on India and leadership lessons from the armed forces. The attached paper offers a brief summary of the session along with a fuller commentary on the subject.
Session 1: The world is well on its way towards a new geopolitical, geo-economic and geo-technological order which will have huge implications for India. To consider these issues, Adit Jain, IMA’s Chairman and Editorial Director, shared insights on what businesses should look out for to keep pace with an evolving India.
Session 2: Having the strength of character to become a better version of yourself and create value for others are two key attributes of leadership. The armed forces have many lessons to offer because virtually every situation an organisation faces has been previously encountered and resolved in the Army. Lt General Chauhan offered valuable leadership lessons from his experience that can be applied across domains.
Change is the only constant in a world marked by shifting alliances and evolving material conditions. The India of today is likely to be completely unrecognisable by 2030. What developments should business leaders keep in mind when formulating an organisational strategy looking ahead?
To consider this issues, Adit Jain, IMA’s Chairman and Editorial Director, recently led a joint session of the India CEO, CFO and CHRO Forums in Pune. This podcast offers a brief summary of the session along with a fuller commentary on the subject.
India is becoming a victim of leftist propaganda from organisations that disagree with its political paradigm. They attempt to undermine its transition through widely circulated reports, which are based on wobbly foundations. It would be a folly to take them seriously. India’s rise will be resisted, as was the case with China and, going back in time, with Japan during the 1980s.
Going forward, consequently, the Indian government and businesses will have to work harder to counter such predispositions. Managers of multinational companies have their task cut out to convince head-office that the reality is different to perceptions. The rise of India, will recurrently come up against resistance. Businesses must be prepared for this regrettable inevitability. This podcast explains.
Nandan Nilekani played the formative role in creating the basic infrastructure - Aadhar - upon which various offerings and government services have been stacked. He advised UPI, ONDC and informally worked with the government on several projects.
Perhaps, most importantly, it is said that he convinced the Prime Minister, in the early months of the administration in 2014, of the enormous spectrum for offerings that could be dovetailed on the UID platform. Full credit to Mr Narendra Modi, for having recognised, very early on, how significant Aadhar would be as the basis of his personal vision to transition India into a new digital age. But India also owes Nandan a great debt, as this podcast explains.
Since the pandemic, ESG investing has scaled new heights and regulators have also sharpened their focus on the issue. In India, ESG has also become the subject of regulatory requirements by SEBI and the Ministry of Corporate Affairs. However, more and more stakeholders are questioning the entire ESG movement.
At recent India CFO and CEO Forum sessions, Rahul Bhasin, Managing Partner of Baring Private Equity Partners India and Senior Partner and Global Board Member of Baring Private Equity Partners International, addressed some pressing questions surrounding the ESG movement. This podcast offers a brief summary of the session along with a fuller commentary on the subject.
India’s political economy remains an enigma. Many significant changes have been implemented with a scale and efficiency previously unseen, but at the same time, key economic priorities have received less attention than expected.
At recent India CFO and CEO Forum sessions, Rajat Sethi, a political strategist and adviser to the state governments of Manipur and Jharkhand, shared his insights on the dynamics of India’s evolving political landscape, the fault lines and headwinds ahead, and the expected policy changes that business leaders must prepare for. This podcast offers a brief summary of the session along with a fuller commentary on the subject.
Many companies are thinking through a China plus one strategy, with new capacities being created in Eastern Europe and Mexico. In any case China’s labour cost arbitrage no longer works, as wages have jumped over the course of the past five years. Consequently, new manufacturing locations that have robust infrastructure, low taxes and an efficient and predictable judiciary are benefitting from the reallocation of capital. But China will continue to play a role for a long time to come, as this podcast explains.
IMA’s latest quarterly Business Confidence and Performance Index (BCPI) survey reveals a mild downtrend in business expectations, with the headline indicator falling from 62.1 to 60.2. The extensive survey involved responses from 200 respondents across various sectors including, but not limited to, BFSI, Industrial Manufacturing. Chemicals, Logistics, Consumer Goods etc. At a recent joint online session of the India CEO, CFO, CMO and CHRO Forums, we presented the headline results from the latest edition of the BCPI. This podcast summarises the same
For long, Indian start-ups have been the subject of lively conversations owing to skyrocketing valuations and an abundance of capital. However, they are now experiencing rough weather. Layoffs, markdowns and, in some cases, suspension of operations have been the consistent story over the past few weeks. Contrast this to 2021, when a record number of 45 unicorns were created with a combined valuation of over USD 93 billion. In 2022, this number is down to less than half. The downward trend continues into 2023, with even lower levels of fundraising seen in Q1.
This podcast, which is based on IMA India's in-house research, looks into the funding trends of start-ups, the changing nature of the valuation game and the way forward.
As a productivity enhancement tool, generative AI helps solve complex problems rapidly. It scans vast amounts of data to produce insights that traditional methods would take far longer. ChatGPT, for instance, works with complex algorithms to produce information and unlike traditional AI systems, that stick to pre-set rules, it can create something new by examining patterns within existing data sets. A well publicised application of generative AI is in language processing. It can construct original text or dialogue. ChatGPT, has the capacity to generate human-like responses to text prompts and is consequently ideal for chatbots as a customer service tool.
But the applications of generative AI are several, as this podcast explains.
With reasonable assumptions on economic growth and that we sail a steady ship, without extreme shocks – either economic, social or political – India’s economy should touch USD 6-7 trillion by 2031-2032. That is not too far away and businesses need to get their plans sorted to tap this remarkable opportunity.
By 2035, India’s consuming classes will comprise of 120 million ‘households’ with an annual income exceeding USD 30,000. Of this about 40 million households will have an average income exceeding USD 50,000 per annum. This segment would constitute the fat-belly of the market-place. This podcast explains.
Change is the only constant in a world marked by shifting alliances and evolving material conditions. The geopolitical arena we find ourselves in today is likely to be completely unrecognisable by 2030. What developments should business leaders keep in mind when formulating an organisational strategy looking ahead? This podcast offers a fuller commentary on the subject.
As of now, we do not subscribe to the view that interest rates have peaked in India and a quarter percentage increase will possibly take place. The Fed, too, may announce a 25 bps hike in the coming months. Bond yields in India, on the other hand, are close to their peak and treasury managers should consider locking in their investments for now. CFOs must also keep an eye on liquidity, should external conditions cast a shadow upon the Indian financial market place. This podcast explains.
In the worldwide push for sustainability, lithium has been a key ingredient facilitating the transition to zero-emission energy use. Lithium-ion batteries boast a high voltage per cell ratio and have a lower impact than lead-acid batteries. The growing global demand for lithium-ion (Li-ion) batteries poses a challenge for India, a country that relies heavily on imports for lithium and Li-ion batteries. As analysts grow concerned about a potential world-wide lithium supply crunch, what can India do to secure its future lithium needs? This paper discusses the current market for Li-ion batteries in India, recent developments in global lithium supply chains and the channels India may use to secure lithium.
To be a resilient and successful enterprise in the 21st century means embracing digital transformation initiatives. However, it can be a challenge to understand where to start, what to focus on, and how to evaluate your organisation’s digital maturity. IMA India recently conducted a survey-based study in partnership with ThoughtWorks, a leading technology and management consultancy, to understand the digital readiness of the organisations. A series of panel discussions across cities brought out the experiences of IMA's CEO Forum members about this journey. This podcast offers a brief summary of the session along with a fuller commentary.
Is this the start of something big or is it simply a mirage? Believe or disbelieve, Artificial Intelligence is the new kid in town. Big tech has pumped billions of dollars, in the likes of ChatGPT and other AI generative models, in the hope of scrounging huge returns in the years ahead. App developers, venture capitalists, privately funded laboratories, web-platform businesses are amongst hordes of entities jostling to find a place in what will emerge as the new marvel. This podcast explains.
The launch of ChatGPT by OpenAI in late 2022 took the world by storm. Businesses worldwide are hopping on to the bandwagon, incorporating AI-powered language models into their products. However, this has thrown up some troubling questions about the use of ChatGPT and equivalent software in educational institutions, workplaces and beyond. This podcast looks at the different ways businesses have embraced ChatGPT and the possible implications.
The need to innovate constantly is essential for survival. Companies with dominant market shares become complacent and then, as if by stealth, a new competitor comes along with a disruptive idea and changes the business landscape. In this paper, we explain the remarkable story of Info Edge; how it destroyed the most profitable product line of newspapers and what it does to stay ahead in the game.
Adopting ESG compliance measures today can create tailwinds for its implementation by articulating the organisation’s purpose and values and linking those with its ESG priorities.
At a recent India CHRO Forum session in Mumbai, Anirban Ghosh, Chief Sustainability Officer at the Mahindra Group, illustrates the role CHROs can play in driving forward the ESG agenda.
Of all the individuals in the C-Suite, it is CFOs who are the best placed to be the CEO’s ‘right-hand-man,’ but this does not come automatically. Rather, for this to happen, CFO’s must position themselves as a critical value enabler and thought partner.
At a recent India CFO Forum session in Pune, Manish Bhatnagar, Managing Director of SKF India, shared his view on what CEOs expect from their CFO, and how the latter can step up and rewrite the Finance agenda to contribute at a strategic level. This podcast offers a commentary on the same.
Having the strength of character to become a better version of yourself and create value for others are two key attributes of leadership. The armed forces have many lessons to offer because virtually every situation an organisation faces has been previously encountered and resolved in the Army.
At a recent India CEO Forum session in Pune, Lt General Chauhan offered valuable leadership lessons from his experience that can be applied across domains.
India’s legal and regulatory landscape is fast evolving, with the trust deficit between businesses and regulators widening dramatically. From being mainly principles-based, regulation is increasingly becoming rules-based and the regulators more enforcement/prosecution-focused.
At a recent India CFO Forum session in Mumbai, Bharat Vasani, Partner, General Corporate, TMT Practice, Cyril Amarchand Mangaldas, decoded some of the recent changes and their implications for business. A brief summary of his perspective is provided below. The attached paper offers a fuller commentary of the same.
Nearly all of today’s leading global businesses are technology-first organisations. Looking ahead, corporate success will pivot around technology and innovation. One of India’s oldest start-ups, Info Edge has succeeded in the face of rapid change in the industry. From a small business in 1997, it is today a tech behemoth with multiple verticals and ventures under its wing.
At a recent India CHRO Forum session in New Delhi, Hitesh Oberoi, Info Edge’s MD & CEO, offered insights on building a culture that facilitated his company’s enviable growth path. He also discussed the role of CHROs in the creation of such a culture. This podcast captures some key takeaways from the session.
Over the last few years, infrastructure in India has been developed at an incredible speed. While public attention has been focused on various political and ideological ‘issues’, departments of the Government have quietly gone about their task literally transforming the country's physical landscape. It is worth reflecting on just how much has been achieved or is shortly about to be, as the attached podcast attempts to do.
In a digital world, transfer pricing dynamics are constantly being disrupted and CFOs must grapple with ever-greater complexity on this front.
At a recent India CFO Forum session in Bangalore, Vijay Iyer, Partner and National Leader, Transfer Pricing, EY India, shared insights on how companies are dealing with TP disputes and the role of advanced pricing agreements (APAs) in that. He also shared his views on recent developments in the area of base erosion and profit shifting (BEPS), especially its 2.0 version. A brief summary of his perspective is captured in this podcast.
India has a 20% female workforce participation rate compared to an 80% participation rate for males. Societal expectations, biases at the recruitment stage, and a perceived lack of skills and confidence are some of the main reasons that lead women to drop out of the workforce, and overall, just 10% of all educated, qualified women currently pursue long-term careers.
At a recent India CHRO Forum session in Bangalore, Neha Bagaria, Founder & CEO of JobsForHer, shared her insights on how organisations can help solve the problem of hiring and retaining more female workers. This podcast summarises the discussion.
The failure of Silicon Valley Bank, was the result of a hike in US interest rates and the consequent impact on the value of long dated securities. More of this may happen and puts the Federal Reserve in a bind. On the one hand it needs to raise rates to curb inflation. On the other, higher rates destroy the balance sheets of banks as their asset books begin to crumble with falling bond prices. This could trigger a collapse of the banking system and jam financial markets. A contagion could spread across international borders.
Transactions that a business undertakes with ‘related parties’ should be subject to a higher level of scrutiny than others, as there is a natural risk that such transactions may be crafted with majority owners’ or management’s interests in mind, at the expense of minority shareholders. However, SEBI’s recent regulations to regulate related party transactions appear to go overboard. They seem to assume that all such transactions are fraudulent unless proved innocent and places the burden of compliance not only on the executive management that takes such decisions but on independent directors as well. This will result in disproportionate time and resources being spent on compliance nitty gritty as opposed to business strategy. This podcast offers a perspective.
'Metaverse' is the latest buzzword dominating Boardroom conversations. Web 3.0 (Web3) and the metaverse are seen, with some justification, as the future of the internet due to their diverse potential applications spanning industries. This podcast explores the emerging meta-landscape, the opportunities it presents and some challenges that may get in the way of its wide-scale adoption.
Recent attention has been focused on the reversing interest rate cycle as central banks across the world have hiked rates. While this has significant implications by itself, there is a secondary instrument that monetary authorities, starting with the US Federal Reserve, have only just begun to deploy: quantitate tightening. This will magnify the impact of rate hikes and create a new worry for businesses. The attached paper explains.
Budget 2023-24 marked the NDA’s tenth budget and also the last ‘full’ one of the current government. (By convention, election-year budgets are meant to be interim ones.)
At a recent joint session of the India CEO and CFO Forums in Chennai, Ketan Dalal, Managing Director of Katalyst Advisors, decoded the Union Finance Budget in the context of India’s economic trajectory and took stock of its main ‘hits’ and ‘misses’. This podcast summarises the discussion
Risk management is one of the top priorities for any CFO. Given the rapid changes in the business environment globally, both the nature and scope of risks is changing. At a recent India CFO Forum session in Hyderabad, Monish Chatrath, Managing Partner of MGC Global, discussed the broad principles of risk management, the imperatives for 2023, and the practices CFOs need to adopt in a post-Covid world. This podcast summarises the discussion.
The reasons for adopting ESG compliance go beyond regulatory compliance or simply ‘looking nice’. Proactively becoming ESG compliant can improve a company’s reputation, access to funding and support for growth. CEOs have an essential role in driving the sustainability transformation of the company.
At a recent IMA India CEO session in Hyderabad, Anirban Ghosh, the Chief Sustainability Officer of Mahindra Group, drew upon his experience to understand and examine the CEO’s leadership approaches in driving ESG initiatives and achieving successful outcomes. This podcast summarises the discussion.
India’s recent state elections emphasise the extent to which the country’s political landscape is changing. Amidst growing political polarisation, parties are playing on identity issues to further their electoral goals ahead of the 2024 election. Despite the entry of young blood in politics, and the increasing role of ‘merit’ in winning elections, dynastic representation is still alive and well at significant levels.
At a recent India CEO and CFO Forum session, Jaiveer Shergill, a practicing lawyer at the Supreme Court of India and the National Spokesperson of the Bharatiya Janata Party (BJP), shared his insights on India’s political future in light of the aforementioned trends. This podcast summarises the discussion.
Having tracked top management compensation for almost three decades, IMA’s research indicated that over the last many years, CEO compensation has outpaced inflation by about 1% a year. This is a reasonable trend, suggesting fair remuneration, and should be considered economically sustainable. Our latest report on the subject, based on published data for Board compensation in the financial year 2021-22, shows that top management salaries have recovered after a sharp drop in FY21 but that variability in pay has increased across the Board.
This podcast provides a brief summary. Interested readers may purchase the full report.
Launched in 2015, Moglix is a B2B eCommerce platform the industrial sector. Within just six years, the company entered the coveted Indian unicorn club. This sole founder-driven company offers many lessons and learning for business leaders on building the right business model, growth strategy, and entrepreneurial culture.
At a recent India CEO Forum session, we had Rahul Garg, founder and CEO of Moglix share his journey building the first an eCommerce platform for the manufacturing sector. This podcast summarises the discussion.
The Digital Personal Data Protection Bill (DPDP), 2022 was released by the government and recently closed for public comments. This is the 4th version of the bill aimed at protecting data privacy after undergoing multiple iterations. The previous bills drafted by the government were larger in scope whereas, the latest bill is concise and regulates specific parts of data privacy. The new bill would undoubtedly require businesses to re-examine their compliance structure given the changing framework. This podcast examines the propositions put forth by the DPDP in comparison to the previous bill. It further discusses the potential implications of the new regulations for Indian businesses.
Compensation is a critical factor in an individual’s choice of career path, particularly at the junior level. As the year starts, HR professionals worldwide are united in facing compensation-related quandaries, particularly in terms of increments for the coming year. At the same time, with attrition rates still elevated across sectors, companies struggle to hire new talent and retain existing employees.
A recent India CHRO Forum session in Mumbai, organised as a free-wheeling peer-to-peer exchange, brought out learnings, perspectives and best practices. This podcast summarises these discussions.
Compensation is a key factor in an individual’s choice of career paths, particularly at the junior levels. As the year draws to a close, HR professionals around the world are united in facing compensation-related quandaries, particularly in terms of increments for the coming year. At the same time, with attrition rates still elevated across sectors, companies are struggling both to hire new talent and to retain existing employees.
A recent India CHRO Forum session in Delhi, organised as a free-wheeling peer-to-peer exchange, brought out learnings, perspectives and best practices. This podcast summarises these discussions.
Until recently, start-ups of all shapes and sizes were achieving ridiculously high valuations based on little more than an exciting idea and a young, motivated promoter. Money was practically free, investors had little else to punt on, and there was enough appetite in the market to swallow all sorts of ideas. The turn of the interest rate cycle last year changed all that and, for now, caution has replaced exuberance. There are important lessons to be learnt from this experience so as to not repeat the same mistakes when the cycle turns up again.
The attached paper offers Adit Jain's perspective.
Digital Transformation is an increasingly important activity for businesses in the post-pandemic era. Even though the term evokes the image of a process brimming with complex technology, digital transformation is as much a cultural process as it is a technological one. Given that a reorientation in organisational culture is integral to digital transformation, CHROs are well-positioned to facilitate such change.
At a recent India CHRO Forum session in Bangalore, Pankaj Rai, Group Chief Data Analytics Officer at Aditya Birla Group shared his experience driving digital transformation in large organisations. This podcast summarises the discussion.
As 2023 dawns, India moves closer to one of the most decisive elections it will face in recent history. Politicians and parties are gearing up for major state elections in 2023, which many believe could set the tone for the general elections due mid-2024. The odds of Prime Minister Narendra Modi wining a third consecutive term are high. Ergo, the BJP will have another term to pass pending legislation, introduce new policies and implement its vision for India.
Politics will begin to overshadow everything this year in anticipation for the general elections. At a recent joint session of the India CEO and CFO Forums, Jyoti Malhotra, national and Strategic Affairs Editor at The Print, provided her journalistic insight on the current political dynamics in India.
This podcast captures the highlights from the session as well as the ensuing discussion
IMA’s Q4FY23 (Jan-Mar) quarterly Business Confidence and Performance Index (BCPI) survey reveals an uptick in business optimism. At 62, the headline index rose by 5 points from Q3. (On each parameter, numbers above 50 indicate net optimism, while those below 50 suggest net pessimism.) The macroeconomy index has climbed to 53.7, pulling out of ‘bear territory. The business expectations index is up 3.8 points to 65.6, and Capex intent has also improved by 2 points, rising to ~62.
At a recent joint online session of the India CEO, CFO, CMO and CHRO Forums, we presented the headline results from the latest edition of the BCPI. This set the context for an open-house discussion among our members about their respective organisations and sectors. This podcast summarises the discussion.
Headlines in the last few months have been dominated by layoffs. It started amongst ‘big tech’ companies, which had gone on an uncontrolled hiring binge in previous months, but is now spreading to others, including companies in old economy businesses. The ostensible reason for this is the turn in the business cycle, triggered by relentless rate hikes across major economies. But there are other factors at play too, as this podcast explains.
Western sanctions have pushed Russian oil exports underground and catalysed the creation of a new and complex oil supply chain. The various links in this chain include tankers for shipment, financiers that cough up the money until payments are received from the end customer and, perhaps most significantly, insurers. The centre of gravity for oil trading has rapidly shifted from Geneva to Dubai, bankrolled to a large extent by the Russian states.
India and China have so far benefited from discounted prices on Russian oil and Brent prices remain substantially below their June 2022 peak. However, as GDP growth in China rapidly accelerates - perhaps even to 10% this year - oil importers like India may soon need to contend with prices in excess of USD 100 a barrel. This will have a huge impact on India’s current-account position, as well as consumer demand and sentiment.
In this podcast episode, Adit discusses his thoughts on the subject.
Over the long term, the rupee has depreciated by an average of 3-4% a year against the dollar. Like any EM currency, it has had long periods of stability interspersed with high volatility. In recent times, rising economic uncertainty, coupled with fast-shifting geopolitical dynamics, has impacted the differentials and thereby the rupee.
At a recent India CFO Forum session in Bangalore, Neeraj Gambhir, Group Executive, Treasury, Markets, and Wholesale Banking Products, Axis Bank, decoded the factors behind the rupee’s recent movement, provided a medium-term outlook for the currency and presented the options before CFOs. This podcast summarises the discussion.
The global hierarchy is undergoing a great reshuffling due to a variety of geopolitical factors. While great power rivalries play out in different theatres, India's unique position and novel approach to foreign policy can be powerful tools to advance its national interests.
At a recent joint session of the India CEO and CFO Forums in Pune, Harsh Pant, Professor of International Relations at King’s College London and Vice President – Studies and Foreign Policy at Observer Research Foundation, articulated how geopolitical trends are likely to shape up in 2023, and their likely impact on India’s business environment. This podcast summarises the discussion.
In a socially networked world, people remember and are loyal to brands that are linked with a ‘cause’. A recent report on Gen-Zs by advertising-and-PR-firm Havas Group reveals that 70% of young Indians prefer to buy from brands that align with their environmental/social ideology. The pay-off from Cause-Based Marketing (CBM) – campaigns built around social causes but with a subtle, revenue-driving objective – is potentially huge. This podcast discusses how companies can align themselves with social causes, and provides some do’s and don’ts.
One reason that multilateral institutions like the WTO have seen their effectiveness and credibility wither away in recent years, is their unwieldy size and mandate. There are simply too many interest groups and competing objectives too reconcile. The G20 on the other hand is a rare example of a multi-country grouping that is reasonably large but still manages to get things done.
This year’s G20 Leadership Summit will be hosted in New Delhi under the Chairmanship of Prime Minister Narendra Modi. It will be an important occasion not just to showcase the India economic opportunity but to influence global thinking on a variety of relevant issues. This podcast offers Adit Jain's perspective on the issue
Covid-19 has changed the basic handbook of risk management, and the current global volatility is altering this further. In the years ahead, safeguarding the business will mean making informed choices around risk management.
At a recent India CFO Forum session in Mumbai, Nitin Sethi, CEO of Aon India and South Asia and Jon Pipe, CEO of Aon India Insurance Brokers, provided an insurance-industry perspective on the shifting-risk management paradigm, followed by an open-house discussion among CFOs from various sectors, who shared insights on the major risks they face and the processes they follow to mitigate these. This podcast summarises the discussion.
More than just a profit-or revenue-generating engine, the modern corporation is expected to be a sustainable organisation. Since the pandemic began, ESG investing has scaled new heights and regulators have sharpened their focus on the issue. However, the reasons for adopting ESG compliance go beyond regulatory compliance or the need for ‘looking good’. Proactively becoming ESG-compliant can enhance a company’s image, improve its access to capital and support growth. Developing an ESG strategy is hard owing to the sheer number of factors that need to be considered, but operationalising it is even harder.
At a recent India CFO Forum session, Helen Brand, Chief Executive of ACCA and Anirban Ghosh, Chief Sustainability Officer, Mahindra Group, outlined the shifting ESG landscape and shared a practitioner’s perspective on driving ESG initiatives to achieve successful outcomes. This podcast summarises the discussion
In the immediate aftermath of China’s abandonment of zero-Covid, there has been much debate and speculation around the number of people who have been infected, or will be in the weeks to come, and the Chinese Government’s attempt to obfuscate figures. While this is no doubt appetising fodder for the social media, it is not the most relevant issue. China’s re-opening will unleash economic disruption on a global scale which has the potential to generate social and political ripples through the rest of the world. This podcast presents Adit Jain's opinion.
ESG is a hot-button issue for most companies, especially large, listed ones. However, as ESG regulation starts to tighten in India and abroad, it will increasingly affect businesses of all shapes and sizes.
At a recent India CFO Forum Session in Chennai, Bose Varghese, Senior Director, ESG Practice at Cyril Amarchand Mangaldas, examined trends in the Indian ESG regulatory landscape vis-à-vis other countries, delved into some of the challenges around ESG reporting, including SEBI’s new BRSR framework, and offered guidance on how companies can effectively navigate this complicated environment. This podcast summarises the discussion.
High shipping rates will add to already-high inflation in 2022. This podcast looks at the factors impacting freight prices, and provides a forward view covering the medium term.
IMA’s Q3FY23 (Oct-Dec) quarterly Business Confidence and Performance Index (BCPI) survey reveals a continued fall in business optimism. At 57, the headline index dropped by 4 points from Q2. (On each parameter, numbers above 50 indicate net optimism while those below 50 suggest net pessimism.) Out of the three broad factors driving the index, companies are most bothered about the macroeconomic outlook. In comparison, business performance has edged down mildly while Capex intent, though lower than three months ago, remains robust at ~60.
At a joint webinar of CEO-CFO-CMO-CHRO Forums, we presented the findings of our quarterly Business Confidence and Performance Index (BCPI) survey, including sector-specific results. The session was then opened to the members for an open-house discussion about the state of their business and their outlook. This podcast summarises the discussion.
Neuromarketing – which uses neuro- and cognitive science to identify customer needs, desires and preferences – is grabbing the attention of industry. Compared to traditional marketing, which uses surveys to tap the conscious mind, neuromarketing tries to enter the subconscious. But how does neuromarketing work? Which tools and techniques are required to successfully implement it and, crucially, how can its principles be adapted into a company’s strategy?
At a recent joint session of the India CEO and CMO Forums in Delhi, Professor Arvind Sahay, who teaches neuroscience, consumer behaviour, brand management and high-tech marketing, among other subjects, at IIM – Ahmedabad, decoded these questions. This podcast summarises some key takeaways from the session.
Enlightened self-interest can help CEOs turn confrontation into cooperation. At a recent India, CEO session in Chennai, Mr. Annaswamy Vaidheesh, former Managing Director of Glaxo SmithKline India discussed various business models that he developed over the years as well as approaches that CEOs can adopt to manage the boards effectively. This podcast summarises the discussion
With many countries turning protectionist, the focus of trade negotiations has shifted from multi-lateral to regional and bilateral deals. This spells a very different future for the global trade regime governing both goods and services. On its part, India seeks to become more assertive on issues of importance to it: more liberal visa regimes for its workers, easier IP norms for drugs and technology products, financial support for pursuing multi-lateral goals with respect to climate change, etc. At the same time, nations are linking economic and geopolitical considerations in ways that they never did before. The two are no longer compartmentalised.
At a recent the India CEO, CFO and CHRO Forums session, Ambassador Syed Akbaruddin, shared his insights on the evolving multilateral trade landscape, the risks and opportunities arising from a confluence of economic and geopolitical factors, and the implications for India. This podcast summarises the discussion.
The recently-announced merger of Air India and Vistara Airlines will create India’s largest international airline. While the business logic of merging the two is understandable, the integration will not be easy. Operationally and culturally, the two airlines could not be further apart. The only thing they have in common is that both are loss-making businesses. The Tatas clearly have their work cut out for them, as this podcast argues.
Despite global headwinds and inflation, the Indian markets have seen renewed energy in the past few months and are trading at a significant premium compared to their Asian peers, notwithstanding the recent correction. This in turn is creating a positive ‘wealth effect’ – a notion of rising asset values – that has a direct bearing on spending, investment, and the overall economy.
At IMA's recent CEO Forum session in Mumbai, we had Neelkanth Mishra, Managing Director, Co-head of Asia Pacific Strategy and India Strategist for Credit Suisse talk about views on the capital markets and the economy. This episode summarises the discussion
With widespread remote working, rampant churn in talent pools and increasingly-transactional employee-employer relationships, companies risk losing elements of their culture, and with it, their competitive advantage. What does it take to build and sustain a winning culture in the current environment and what is the role of the leadership, including CHROs?
At a recent India CHRO Forum session in Mumbai, Ashu Khanna, Founder and CEO of Arka Leadership, shared the nuances of building and sustaining a winning culture. This podcast summarises some key takeaways from the session
A key challenge facing CFOs today is doing justice to the multiple expectations placed upon them. They are burdened not only with their traditional responsibilities around accounting, reporting and risk management but are also called upon to support initiatives around organisational transformation, technology adoption, cyber security and ESG. Each of these has multiplied in magnitude and complexity in the post-Covid environment.
For some years now, China has been making efforts to promote the yuan as a global currency that can substitute for the US dollar. Where it was once willing to play the patient waiting game it may now no longer wish to do so. In the wake of American sanctions on Russia, which have all but cut off that country's access to the global financial system, China now seeks a more urgent solution to ensure its own financial independence in the event of an unfavourable stand-off with the US.
Calcutta was once a thriving hub of industrial activity and a national epitome of economic advancement. It boasted of some of the finest business organisations in the country, hosted a multi-cultural and global citizenry and was everything a prosperous cosmopolitan city should be.
China’s recent animosity towards India does not, in some ways, seem reasonable. It is, after all, economically and militarily superior and its churlish attempts to intimidate India for small parcels of worthless land at the border hardly seem rational for a nation that clearly has larger ambitions for global domination. Some answers to this quandary are to be found in a historical understanding of India’s engagement with China, dating back to the opium wars of the 19th century.
India’s financial technology (FinTech) sector remains on a high growth trajectory despite the pandemic. Propelling it forward are tailwinds such as strong consumer demand, an enabling regulatory environment, rich and diverse capital flows, a strong digital infrastructure backbone, and a large and relatively affordable tech talent pool. The sector’s high-velocity growth of the last five years is likely to continue over the next five as well.
Udaan Co-Founder Sujeet Kumar shared his learnings from building a successful B2B e-Commerce unicorn.
An IMA India research update on what leading companies are doing to bolster their employer brands.
IIM-Bangalore’s Professor Vasanthi Srinivasan shared a perspective on the CHRO’s changing role in a post-pandemic world.
Insights from two industry veterans on how companies can cope with, and eventually ride the waves of disruption.
Economists have argued that in view of India’s weak state of demand and investment, the Government should spend its way out of trouble. Pump priming would lead to higher incomes for consumers and consequently greater spending, which in turn would boost production and ultimately investment.
Celebrities have been endorsing brands since the turn of the 20th century but over the last decade, a new class of influencers has emerged in the world of marketing. These are key opinion leaders (KOLs) who connect with consumers on a personal level and assert tremendous influence over them through the sharing of engaging and relatable content. In this podcast, Archana Jain, Founder and Managing Director of PR Pundit, who has over 30 years of experience in the field, shares insights on how to get influencer marketing right.
Based on insights from IMA’s 2020 Executive and Board Remuneration Report, this paper highlights some of key trends in female representation, and in male-female pay gaps.
Insights from IMA India’s 2020 Board and Executive Remuneration Report on the linkages between pay and performance at the top-management and Board level.
The remarkable story that has played out in America’s stock market recently pertaining to the GameStop’s scrip points to the emergence of a new category of players in the capital markets: retail millennial investors. In the last few weeks, these new ‘wolves’ have given the old ‘barbarians at the gate’, i.e. hedge funds, a run for their money. The attached paper explains.
Genpact Founder and Clix Capital Chairman Pramod Bhasin provided his perspective on what leadership means in the new, post-Covid world order.
Gurumoorthy Mahalingam, a Whole Time Member with SEBI, provided an inside view of what the future holds for India’s corporate debt market, and for governance practices.
At a recent all-India peer group forum webinar, we asked three industry stalwarts to provide an outlook for the critically important construction and real-estate sectors.
The surprising run of the stock market has been a matter of some debate in recent months. Since the Covid-induced crash of March 2020, equity indices have more than made up their lost ground and are currently trading at unprecedented levels. Whilst it is true that an economic recovery is taking place it is by no means comprehensive or guaranteed. Several risks can still play out and it would seem that the markets have run ahead of reality. The attached paper explains why this may be so and, consequently, what could cause this to reverse.
Key takeaways from a recent India CHRO Forum webinar on how businesses are strategising for the future of work and the workplace.
Insights from IMA India’s CXO Priorities: Life after Covid report on how the crisis has caused CEOs’ to reassess their personal time commitments, and their decision to delegate, hire or commit new resources in specific areas.
e-Invoicing will radically change the way tax is administered under the GST. It will bring significant benefits but will also create a host of new issues and unknowns.
There are unprecedented demands on CEO’s time, requiring high levels of physical emotional and mental energy. Do they have the right skills to cope? What gaps do they see in their skill sets and how are they addressing them? This podcast, based on IMA India’s latest research report, ‘CXO Diaries: ‘Life After COVID-19‘, offers some insights.
At a recent India CHRO Forum webinar, Deep Thomas explained the many uses - and possible pitfalls - of using technology in the HR function.
At recent all-India webinars of the India CEO, CFO, CHRO and CMO Forums, we presented the main findings of the latest BCPI edition, followed by an open-house discussion among members about the state of their businesses. This podcast captures some of the main takeaways of these discussions
Hybrid work’, ‘remote work’ and ‘work from anywhere’ are just some of the phrases that have become commonplace in the corporate lexicon since Covid-19 struck. To gauge the sustainability of the new working models and explore innovative ways to engage a remote workforce, we drew insights from several CXOs from among IMA India’s peer group forms.
The BJP performed better than expected in the Bihar assembly elections, significantly improving upon its own performance and ensuring that its NDA coalition came back to power. Bihar is always a keenly-watched election because it serves as an indicator of voter sway in the Hindi heartlands. There are three important drawings to be made from the current outcome as the attached paper explains. Adit Jain shares his insights.
The podcast, based on conversations with CFOs of leading companies, highlights the accelerating pace of technology in Finance and offers insights on how smart technologies are creating impact, and the opportunity for the function to leverage the current momentum.
In this podcast, Stephanie Flanders, Senior Executive Editor, Bloomberg Economics, and Abhishek Gupta, India Economist at Bloomberg Economics, provides an assessment of the impact of Covid-19 on the global economy, global supply chains, labour markets and government finances. They also offered a perspective on the Indian economy and a forward view on what to expect in the coming months.
Conventional wisdom holds that being kind is a risk in the cut-throat corporate world where performance and productivity are prized over everything else. However, social scientists argue that exhibiting pro-social behaviour at the workplace heightens employee engagement, promotes brand loyalty and improves business performance in the long run.
Conventional wisdom holds that being kind is a risk in the cut-throat corporate world where performance and productivity are prized over everything else. However, social scientists argue that exhibiting pro-social behaviour at the workplace heightens employee engagement, promotes brand loyalty and improves business performance in the long run.
In this podcast, R Rajnarayan, Senior Vice President and Chief Human Resources Officer at Titan Industries, Dr Prince Augustin, Executive Vice President – Group Human Capital & Leadership Development at Mahindra & Mahindra, and Rashmi Pradeep, Partner in the General Corporate Practice of Cyril Amarchand Mangaldas, share their diverse perspectives on critical workforce-related challenges, the impact of the new labour codes on business and what these mean for CHROs.
Hybrid work’, ‘remote work’ and ‘work from anywhere’ are just some of the phrases that have become commonplace in the corporate lexicon since Covid-19 struck. To gauge the sustainability of the new working models and explore innovative ways to engage a remote workforce, we drew insights from several CXOs from among IMA India’s peer group forms.
Illustrating his talk with a series of recent, path-breaking media campaigns, Sukesh Nayak, Ogilvy’s Chief Creative Officer, spelled out what it takes to succeed in today’s ‘6-feet economy.
Illustrating his talk with a series of recent, path-breaking media campaigns, Sukesh Nayak, Ogilvy’s Chief Creative Officer, spelled out what it takes to succeed in today’s ‘6-feet economy.
This podcast, based on conversations with HR leaders across the services and manufacturing space, highlights the acceleration in the pace of technology adoption in this function, and how smart technologies are creating the most impact and the opportunity for HR to leverage the current momentum.
Suhasini Haider, Diplomatic Editor at The Hindu, highlighted India main foreign policy challenges as the world approaches the end of a traumatic year.
Suhasini Haider, Diplomatic Editor at The Hindu, highlighted India main foreign policy challenges as the world approaches the end of a traumatic year.
In this IMA India research update, we examine important labour-market trends that are visible in the EPFO’s data series on EPF enrolments. These include rising formalisation, greater labour-market stability and an increase in female employment as a share of the total. Adit Jain shares his insights.
In this podcast, Anu Aga, Ex- Chairperson, Thermax India, shares her extraordinary tale of enduring a family crisis, the turnaround of Thermax, the lessons learnt, the values that define her, and the strength she found by turning inwards.
In this podcast, Anu Aga, Ex- Chairperson, Thermax India, shares her extraordinary tale of enduring a family crisis, the turnaround of Thermax, the lessons learnt, the values that define her, and the strength she found by turning inwards.
In this podcast, Anu Aga, Ex- Chairperson, Thermax India, shares her extraordinary tale of enduring a family crisis, the turnaround of Thermax, the lessons learnt, the values that define her, and the strength she found by turning inwards.
In this podcast, Anu Aga, Ex- Chairperson, Thermax India, shares her extraordinary tale of enduring a family crisis, the turnaround of Thermax, the lessons learnt, the values that define her, and the strength she found by turning inwards.
In this podcast, Manish Sabharwal, Chairman and co-founder of Teamlease Services, India’s largest staffing and human capital firm, provides a perspective on the policy challenges facing India, the mechanics of the process, the obstacles and the possible way forward.
Over the weekend, Parliament passed two important bills pertaining to agriculture - the Farmer’s Produce Trade and Commerce (Promotional and Facilitation) Bill, 2020 and the Farmer’s (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020. A third Bill, The Essential Commodities (Amendment) Bill 2020, has been passed by the Lower House and awaits the approval of the Upper House. Adit Jain shares his insights.
India’s economy is today precariously perched. Unemployment has jumped, government revenues have collapsed, banks are saddled with bad loans, thousands of SMEs are on the verge of closure and consumer spending remains weak. A quick recovery, much less a V-shaped one, is simply not a tenable expectation at this point. If new investment in manufacturing is to be invited, it is important to appreciate the prerequisites to achieving this. There are 4 broad issues that need to be addressed through suitable policy measures. Adit Jain shares his insights.
The podcast draws insights from IMA’s 2020 Digital Marketing Benchmarking Study on the evolution of digital marketing in the last five years.
The podcast draws insights from IMA’s 2020 Digital Marketing Benchmarking Study on the evolution of digital marketing in the last five years.
The podcast, based on IMA’s 2020 Accounts Closing Benchmarks Report, reveals interesting insights on whether companies are, in practice, outsourcing their closing work to a third-party or opting to do it in-house.
The podcast draws insights from IMA’s 2020 Digital Marketing Benchmarking Study on the evolution of digital marketing in the last five years.
The podcast, based on IMA’s 2020 Accounts Closing Benchmarks Report, reveals interesting insights on how companies that are leading the ‘tech-adoption’ revolution in their closing processes are able to leapfrog ahead of those still relying on manual effort and spread-sheets.
India Cares, a voluntary, grassroots initiative set up by IPS Officer Arun Bothra, is making a real different for thousands of people at a time when such efforts are most needed. In an inspiring conversation with our CXO Forum members, Mr Bothra explained what makes IC tick.
India Cares, a voluntary, grassroots initiative set up by IPS Officer Arun Bothra, is making a real different for thousands of people at a time when such efforts are most needed. In an inspiring conversation with our CXO Forum members, Mr Bothra explained what makes IC tick.
India Cares, a voluntary, grassroots initiative set up by IPS Officer Arun Bothra, is making a real different for thousands of people at a time when such efforts are most needed. In an inspiring conversation with our CXO Forum members, Mr Bothra explained what makes IC tick
India Cares, a voluntary, grassroots initiative set up by IPS Officer Arun Bothra, is making a real different for thousands of people at a time when such efforts are most needed. In an inspiring conversation with our CXO Forum members, Mr Bothra explained what makes IC tick.
Analysts often debate whether any currency can ever replace the dollar as the international monetary standard. As things stand, no other currency comes even close. The dollar's rise started with international arrangements made many decades ago but was sustained by its unmatched ability to provide safety, value and depth to investors even in the worst of times. However, with the dynamics of the international order changing, this may not continue forever. Whether the dollar retains its hegemony depends on how well the US administration discharges its responsibility of managing the world's most powerful currency. Adit Jain shares his insights.
The hotel-airline-hospitality trinity has been badly dented by the Coronavirus pandemic. Three industry stalwarts shared their learnings in terms of navigating this difficult phase and reinventing their businesses.
The hotel-airline-hospitality trinity has been badly dented by the Coronavirus pandemic. Three industry stalwarts shared their learnings in terms of navigating this difficult phase and reinventing their businesses.
The hotel-airline-hospitality trinity has been badly dented by the Coronavirus pandemic. Three industry stalwarts shared their learnings in terms of navigating this difficult phase and reinventing their businesses.
The hotel-airline-hospitality trinity has been badly dented by the Coronavirus pandemic. Three industry stalwarts shared their learnings in terms of navigating this difficult phase and reinventing their businesses.
Raj Kamal Jha, Editor in Chief of the Indian Express, provided an on-ground assessment of the situation with respect to Covid-19, and his views on the political and economic landscape that lies ahead.
The foreign policy of nation states employs a combination of ‘soft’ and ‘hard’ power. The former is about cooperation and consensus building. It is a slow and painstaking process involving cultural and civil society exchanges, shared values, mutual support on global issues, etc. The latter is more immediate and uses relatively forceful tools such as economic action, financial dependencies and even military might. However, unless such actions are accompanied by an adequate and permanent quid pro quo the strategy can unravel very quickly. Adit Jain shares his insights.
Raj Kamal Jha, Editor in Chief of the Indian Express, provided an on-ground assessment of the situation with respect to Covid-19, and his views on the political and economic landscape that lies ahead.
When solving a complex puzzle one’s attention naturally tends to focus on the most immediate and binding constraint - the part that needs to be solved now as one cannot otherwise proceed. In so doing, one ignores the fact that even harder challenges may lie ahead and the current solution may be no more than a temporary reprieve. One step at a time, or so the saying goes. Covid-19 is a phenomenon somewhat of this nature. The immediate constraint the world is seeking to address is a vaccine. But when it does arrive the problem will still not have gone away. The goal post will have merely shifted to the next problem, which scientists are already warning us about. Adit Jain shares his insights.
This podcast focusses on spends on digital marketing basis IMA’s research conducted towards the creation of the ‘2020 Digital Marketing Benchmarks Report’.
This podcast highlights some findings around the cost of running the close process basis IMA's detailed benchmarking study '2020 Accounts Closing Benchmarks Report'.
As India emerges from a nationwide lockdown, IMA’s Chairman and Editorial Director, Adit Jain, takes stock of what to expect on the economic and policy-making front in the months ahead.
Much has changed in digital marketing in recent years, but one thing has not: companies still struggle to measure the returns on such investments. However, the returns on DM spends can be very significant, and at some level, investing in DM requires a leap of faith.
Much has changed in digital marketing in recent years, but one thing has not: companies still struggle to measure the returns on such investments. However, the returns on DM spends can be very significant, and at some level, investing in DM requires a leap of faith.
Much has changed in digital marketing in recent years, but one thing has not: companies still struggle to measure the returns on such investments. However, the returns on DM spends can be very significant, and at some level, investing in DM requires a leap of faith.
Pramod Bhasin, who founded Genpact in 1997, shares insights on what it takes for leaders to redefine old boundaries and get the most out of their people.
Pramod Bhasin, who founded Genpact in 1997, shares insights on what it takes for leaders to redefine old boundaries and get the most out of their people.
Sridhar Narayan, Managing Director and Head of Global Markets at HSBC India, share his insights into the factors driving the Indian currency, and what to expect in the months ahead.
Rajesh Kalra, Chief Editor, The Times Group Digital, one of India’s largest media houses, decoded India’s new media consumption habits and the implications for brands and marketers.
Kaveree Bamzai, an independent journalist and former Editor at India Today, traced the evolution of male-female relationships in modern India, and shared her insights on this dynamic, fast-evolving area.
The easing of lockdown restrictions in the last few weeks and the consequent resumption of economic activity has offered a degree of relief to industry and small businesses. While this is welcome, it is important to remain watchful of the fact that the underlying stresses on India’s financial system have not abated in the slightest. The NPA overhang in banks and NBFCs remains dangerously high and will probably worsen before it improves. More liquidity and cash flow challenges lie ahead and CFOs and business managers must remain alert. Adit Jain shares his insights.
Traditional economic theory says that a demand slump is usually caused or followed by an excess of supply. Conversely if there are supply constraints then demand tends to overshoot, leading to an over-heating of the economy and a subsequent re-adjustment of output. However, the present situation defies both principles, characterised as it is by both demand suppression and supply constraints. Clearly, conventional solutions will not work and businesses will have to think of innovative responses. Conventional notions must be discarded and established assumptions re-examined. No cost is sacrosanct and no opportunity should be considered worth rejecting. Adit Jain shares his insights.
When Joe Biden was first elected as a Senator from Delaware in 1972, he was one of the youngest in American history to occupy this office. Today, as he runs for President, he is one of the oldest to do so. Between these milestones, he served six terms as Senator and went on to become Vice President under Mr Obama's Presidency in 2008.As things stand, Mr Biden is the favoured candidate. He has well-formulated views on many important issues such as foreign affairs and economic policy, many of which differ from the paradigm currently followed by the US administration. This will have implications for other nations as well. Adit Jain shares his insights.
Gautam Bambawale, Former Indian Ambassador to China, decoded India’s complex relationship with China, the forward view, and the implications for economic policy.
Manish Maheshwari, Managing Director of Twitter India, revealed how social media platforms like Twitter can give marketers a leading edge in today’s digital world.
Gautam Bambawale, Former Indian Ambassador to China, decoded India’s complex relationship with China, the forward view, and the implications for economic policy.
It is a settled principle of indirect taxation that the best structure is one that is based on a single and moderate rate of tax, with no exclusions and exceptions. Diluting this principle will always lead to sub-optimal outcomes. In India’s case, one might have argued that this principle was difficult to follow at the time of the GST’s introduction because of political and economic pressures that prevailed then. However, things are very different now and an overhaul of the GST regime is needed if the economy is to stand any chance of coming out of its recession in a reasonable time frame. Frankly, the decades-old socialist mindset that remains entrenched in India’s policy making needs to be revisited. Adit Jain shares his insights.
Adit Jain shares what the new normal looks like for ‘work from home’ and what needs to be done to sustain it in the longer run
Aside from the implications of the current lockdown and the spread of a dangerous pathogen, Adit Jain shares a nice flip side to this adverse situation from the lens of a conservationist and wildlife photographer.
Adit Jain, Chairman and Editorial Director - IMA India comments on the disruptions caused by the Covid pandemic on the Indian economy and the business environment.