The Telegraph
Since 1st March, 1999
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AIMA guide to $ 200 bn with 40 million jobs

Calcutta, Sept. 12: The All India Management Association (AIMA) has conducted a study on how to create 40 million jobs in India and push gross domestic product (GDP) to US $ 200 billion by 2020.

Speaking at the inauguration of the three-day management convention in Calcutta today, Rajive Kaul, president of AIMA, said, the study would soon be handed over to the Prime Minister.

The AIMA study envisages India emerging as the third largest economy in the world after the US and China over the next 17 years.

Bengal chief minister Buddhadeb Bhattacharjee inaugurated the annual AIMA event in the presence of a galaxy of top-rung executives and entrepreneurs from the city and outside.

In his brief address, Bhattacharjee tried to highlight the achievements of the state in creating the right climate for investments. But the speakers who stole the inaugural show were HDFC chairman Deepak Parekh and WorldTel CEO Sam Pitroda.

“Large corporations have four key stakeholders: the community at large, the employees, the minority shareholders and the dominant shareholders. There are other stakeholders too — like the lenders and suppliers — but not as important as the first four. All companies must strive to satisfy these four stakeholders,” Parekh said.

In his speech, Chicago-based Pitroda said Indians were too complacent. “We should stop being happy at small achievements. China is growing much faster than India, and faster than we can imagine,” he said.

Exhorting the country to wake up to the challenge, Pitroda said it was time for the managers to change their mindset and adopt a global outlook.

He said the private companies should work closely with the government and educational institutions, and focus on introducing global standards and technology.

He was critical of bureaucracy in the country, and called for simplification of systems and processes involving the government.

The three-day event will bring to the city executives like B. Muthuraman (MD, Tisco), Subir Raha (chairman, ONGC), J. J. Irani (director, Tata Sons) and industrialists like Pawan Munjal (Hero Honda) and Sunil Mittal (Bharti) among others.

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