Ideator, entrepreneur, parliamentarian and public votary. Rajeev Chandrasekhar is an electrical engineer from Manipal and a Master Degree holder in Computer Science from Illinois Institute of Technology. He started his career in the USA with world’s largest computer chip maker Intel between 1985 and 1991. Came back to India to start BPL group’s mobile telephone business in 1994. He was one of the early players in the industry, who anticipated the tremendous potential in telecom, cashed out by selling BPL Mobile at a huge profit to start his own new venture under the banner of Jupiter Group. 

Well, success being his second calling card, Rajeev has just taken over as Presidentship of Federation of Indian Chambers of Commerce & Industry (Ficci), one of India’s most powerful industry representative body. Yes, for the Bangalore boy the new position is another feather on his cap.

In an e-mail interview with Deccan Herald’s Subrahmanyan Viswanath, the new FICCI President opened up his mind on the state of Indian economy and his own prescriptions to propel the industry and economy on high growth path. 

Deccan Herald: As new President of Ficci what is your vision & plans for Corporate India in particular and the Indian economy in general?

Rajeev Chandrasekhar: The Indian economy is on a growth path that is potentially going to take our country into the developed category very soon. A lot of this has to do with the fact that over the last decade, successive governments have allowed unleashing of the true entrepreneurial spirit and energy of many thousands of people and companies with dreams, breaking the stranglehold over the economy held for many years by a few industrial houses.

The biggest challenge for us as a nation is to ensure that this growth path continues and remains consistent regardless of whatever political equation is in government. A decade of growth will ensure some of the real issues of poverty and despair are eradicated, provided we follow a model of inclusive and broad growth.

For Indian corporates this is as much an objective as it is for every other Indian. Sustainable growth in turn can be achieved if Corporate India focuses as much on critical issues of governance and strengthening institutions of governance like Regulators — as much as the other issues that corporates and business usually focus on.

DH: How do you see yourself contributing to the future of India Inc as Ficci President?

Rajeev: I don’t bring any special skills. Except I strongly believe that corporates must be seen as and be responsible participants in this critical phase of nation building. While creating wealth and economic value will remain a crucial objective for corporates, as it must, it is also important that Indian corporates stand up for what is right.

Industry associations must not be seen as generators of hot air, but seen more as adding value to the debates about the important issues facing our economy and nation.

DH: Several economy and business monitoring agencies, both domestic and foreign have forecast a slowdown of the Indian economy and revised their earlier GDP growth projections. As Ficci President what will be your prescription to create momentum for growth and propel it past 9 per cent plus growth path?

Rajeev: The slowdown if any in the Indian economy are going to be driven purely from external factors. There are clearly some storm clouds gathering over the global economy, and more importantly the US economy. Given the significant linkages between the services and investments components of our economy, it is likely that our economy will be affected.

But it is quite heartening to have heard Prime Minister Manmohan Singh reassure the Industry at the Ficci AGM that he was confident that our economy will maintain a 9 per cent growth regardless of any slowdown. That was a powerful vote of confidence in our economy, even if it came from Mr Singh himself.

DH: What are the corrective or otherwise steps the industry needs to take and what do you suggest the government do on its part to achieve ambitious growth goals?

Rajeev: My view is that there is no harm, regardless of the outcome of the global slowdown, in Indian Industry becoming a bit paranoid and preparing itself  - tightening itself to become more efficient, so to speak. As Andy Grove said ‘Only the Paranoid Survive!’ There’s no harm in Indian companies introducing a bit of paranoia and more frequent reviews in their planning and strategic process over the next 12-18 months.