Mindmine Summit 2008

"Re-inventing Indian Business: Agenda for Today"
Legacy and first generation enterprises in India were building globally competitive enterprises.

As a result of 17 years of reforms, the baggage from the past had been shed and Indian firms now had the confidence to look global and Asian counterparts in the eye. The growing ambitions of Indian firms had caught the attention and captured the imagination of both strategic and private equity interests from overseas. De-risking through exports was now a rule, rather than an exception. At another level, the inorganic route had become an integral part of the strategy of Indian firms to quickly gain in scale and size.

Yet important challenges remained, even as Indian companies sought to re-orient themselves. There was the challenge of growth on an international scale. There was the challenge of setting and maintaining global standards of efficiency, productivity and customer service. There was the challenge of competition from Asian neighbours and entrenched host companies. Most important was the transition challenge from family-driven company to a corporate company.

Meanwhile within India, firms faced challenges distinctly unique to this country. The infrastructure deficit was still daunting; red tape was still endemic—and yes, Indian managers still had to rely on their jugaad and intuitiveness to remain competitive.

At another level, Indian firms were coming under increasing pressure from the government to share the burden of inclusive growth and development. As the world changed, as India’s aspirations grew, as Indians sought a new identity for themselves, Indian businesses faced a New Agenda. They needed to rediscover and reinvent themselves in not one, but several different ways.

Third Mindmine Summit on February 7 and 8, 2008 at Hotel ITC Maurya, New Delhi was appropriately themed “Re-inventing Indian Business: Agenda for Today”. The 2008 edition looked closer at the human, social and business dynamics that would be driving India in the next decade and beyond.

Over the course of a day and a half, summit participants listened to, interacted and discussed with and met a galaxy of high-profile thought leaders and practitioners who addressed various facets of India’s journey, both within and outside. With the top-of-the-line resources lined up for the summit, the event created the same impact in the print and television media as previous summit did.

Key sessions and the speakers were:

Session 1: Opening Session
Speakers: Mr. P. Chidambaram*, Finance Minister, Government of India; Mr. Brijmohan Lall Munjal, Chairman, Hero Group; Mr. Sunil Kant Munjal, Chairman, Hero Corporate Service.

Session 2: Re-invention: why the rush?
Speakers: Mr. Analjit Singh, Chairman, Max India Limited; Vandana Shiva, Environmental Activitist; Naina Lal Kidwai, GM & Country Head- HSBC India; Dr. Vinayshil Gautam, Founder Director, IIM (K), Professor IIT (D)

Session 3: Re-invention: Can Indian companies be truly Global?
Speakers: Mr. Alan Rosling, Executive Director, Tata Sons; M K Damodaran, Chairman, SEBI; Nandan Nilekani, CEO, Infosys

Session 4: Re-invention: of the individual Indian?
Speakers: General (retd.) V P Malik; Pavan Varma, Director General, Indian Council for Cultural Relations; Gunit Chadha, Managing Director and CEO, Deutsche Bank.

Third BML Munjal Awards for Excellence in Learning & Development
Session 5: Re-invention: Business’ Social Paradigms
Speakers: Mr. J. J. Irani, Director, Tata Sons; Pawan Duggal, Renowned Lawyer; Sanjay Reddy, MD, Mumbai International Airport Limited.

In the opinion of the house, India needs to be re-invented & not re-discovered.
For The Motion: Mr. Surjit Bhalla, Mr. Piyush Pandey, Executive Chairman and National Creative Director; Mr. Jyotiraditya Scindia*, MP
Against the Motion: Mr. Bibek Debroy, Renowned Economist; Mr. Suhel Seth, Equus Red Cell; Mr. Mani Shankar Aiyar

Summary of Learning: Sunil Kant Munjal, Chairman, Hero Corporate Service
Vote of Thanks:
Mr. Anupam Bhasin, Director (HR & TQM), Hero Corporate Service

BML Munjal Award
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