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PM Modi has achieved in 6 months what governments over 5 years haven't: Management guru Ram Charan

Author: Jugal R Purohit 
Publication: India Today
Date: November 29, 2014
URL:   http://indiatoday.intoday.in/story/narendra-modi-has-achieved-in-6-months-what-governments-over-5-years-havent-management-guru-ram-charan/1/404383.html

Give Prime Minister Modi some time. He has changed the mood and done in six months what governments haven't been able to do in years," says world-renowned management guru, author and speaker Ram Charan.

Speaking at Business Today MindRush on Saturday, Ram Charan, who is known to advise top CEOs across the globe, analysed the last six months of the Modi government and stated: "He has clearly shown the world that, from now onwards, India is on the move."

As someone who learnt the ropes while working at his family shoe shop, Ram Charan is an engineering degree holder who went to Australia to work.

Subsequently, he pursued an MBA and doctorate degrees from Harvard Business School before plunging full-time into consulting. With over 15 books under his belt, this award-winning adviser is a constant globe-trotter and observes the business of the world at close quarters.  

From fixing the basics, laying down the priorities, monitoring work to reviving investor's confidence, PM Modi's words and actions have impressed Ram Charan.

But there is a long road ahead, in his words.

"'Make in India' cannot succeed if you do not realise that manufacturing today is very different from what manufacturing was yesterday. Let India identify core areas in which we wish to intensely pursue our goals. It could be software, healthcare whatever. We have the intellectual power. In addition, PM Modi is looking at improving a sector like energy, which is essential. So I say the mood is very positive."

When asked about the remaining stumbling blocks, he said, "No country in the world can progress with FDI. That needs to be fully understood. India needs to simplify its procedures. In addition, some actions by a previous Finance Minister of retrospectively challenging even the orders of the Supreme Court destroyed India's credibility among the global community. Many CEOs called the minister and pleaded but they were not heard. The previous government was paralysed."

Asked if he was referring to then finance minister Pranab Mukherjee's 2012-13 budget provision of amending the Income Tax Act with retrospective effect, he nodded in agreement.

"Today, CEOs in America are interested but not invested. Reason is the lack of credibility," he added.  

On constant comparisons with India's northern neighbour, China, Ram Charan unambiguously asserted that those efforts were futile. "Why do you do that? Intellectuals waste time doing so. Let us focus on India, our challenges. Is China stopping us in any way? If we get our house in order, like PM Modi is trying to do, China can actually be of help to us," he stated.

In fact, he said if China had to be emulated, it should be in the field of FDI. "You talk about how FDI cap of 49 per cent in defence is inadequate. I do not agree. Foreign firms poured investment into defence manufacturing in China at much lesser a cap," he said.

India's immediate goal, in Ram Charan's opinion, should be to develop its forex reserve to $1 trillion something that will automatically guarantee the country its place in the comity of nations. 

Returning to his observations of the Modi administration, he rejected charges that Modi was hardly a team player.

"I would say he has a good team and he listens to his team. As a CEO who has a political mandate, we must realize that his job is far more complex than any ordinary CEO. People who criticise Modi have no experience of how things are done," he added.

In his opinion, youngsters entering their professional lives need to continuously expand their mental capital, study their management and have as bosses only those who were progressive.
 
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