'Rethink on strategies to take India forward

Art of Living Foundation chief Sri Sri Ravi Shankar on Friday exhorted business community to rethink their strategies to take the country forward as part of giving basic amenities to all citizens.

Speaking at the Annual CFO Conference 2014 organised by CII  Karnataka,  Sri Sri Ravi Shankar said that even after 60 years of Independence there are areas of unrest in the country as  basic amenities are still missing.

“There are many areas in the country that are rich in natural resources; however these areas lack investment due to Naxalism and other problems. True growth is achieved only when its benefits percolate down to every citizen,”he said.

Sri Sri Ravi Shankar called on CII to set up an anti-corruption task force to tackle corruption as a united body.

On the CSR front, he requested industries to channelise their CSR programs to bring changes in society.

Delivering the keynote address, Dr Reddy’s Laboratories Ltd President & CFO Saumen Chakraborty stressed on the importance of R&D in organisation.

“R&D is one of the most important drivers for growth. When we talk about growth it
should mean that we create value for all our stake holders,” Chakraborty said.
Organisations should pursue growth without chasing growth mindlessly. “They should plan for it very systematically well in advance, focus a lot on capabilities, risk mitigation and process,” Chakraborty said.

Sandeep Maini, CII Karnataka Chairman, said that internationally a certain degree of confidence is returning to the world economy, and job levels are nearing its pre-crisis levels.

“Domestically, we find that RBI still maintains a hawkish inflationary stance showcasing that inflationary expectations continue to remain high, which may dampen investment and economic growth. But recent trends suggest that domestic businesses are optimistic that growth will return in the medium term,” he said.

Deliberating on the theme of ‘Gearing up for Growth’, the conference also discussed in detail where growth should be directed, viable options for fundraising, optimal risk management strategies and how IT can be leveraged to deliver maximum growth.
Levis Strauss India Finance Director A Gurudutt pointed out that India has a demographic advantage which would help accelerate growth.