IIM Indore conducted a Guest Talk by Lt. General S.L. Narasimhan, PVSM, AVSM, VSM, Madras Regiment Officer on February 24, 2016 on the topic ‘China’s Economic Growth: Myth or Reality’, wherein he discussed about the strengths and the weaknesses of Chinese economy and how the country is using it for its development strategy.
Professor G. Venkat Raman, Faculty, IIM Indore welcomed the guest and introduced him. Professor Raman mentioned how the Chinese economy has evolved with time since its first five year plan was developed. He also mentioned how the Chinese economy is been balanced by industrial and cultural balancing between urban and rural regions in the country.
‘The more you study about China, the more you realize that you still have a lot to know about it’, said Lt. General S.L. Narasimhan as he began his talk. He discussed about the Cultural Revolution that took place in China, which was a milestone in the changing economy. ‘China had set up its ten year plan and various targets were also set up, however due to shifting priorities, creation of special economy zones, etc. the plan didn’t quite work’, he noted.
Discussing about the manufacturing sector of China, he mentioned that it produces value added products, and they keep the production cost very low. ‘This is the reason why they import raw material from various countries, produce at a low price and have good export earned revenue’, he said. He also noted that after recession, China maintained a balance in trade and this helped in keeping inflation controlled. This made them realize the need to increase domestic consumption.
Lt. General Narasimhan also discussed about various other growth factors like proactive investment, increase in farmlands, foreign exchange accumulation policies, availability of abundant labour etc. which play a major role in determining the economy in the coming few years. He concluded his talk discussing the ways in which the country is using its resources and capabilities to strengthen the economy.
The talk was attended by the students, faculty and staff of IIM Indore.
About Lt. General S.L. Narasimhan:
Lt. General S.L. Narasimhan, PVSM, AVSM, VSM is a MADRAS Regiment Officer. A Maths Graduate, the General was commissioned in 25th Battalion- The Madras Regiment in 1977, side stepped to 11th Battalion-The Madras Regiment on raising in 1980 and commanded the unit with distinction in active counter insurgency environment as part of Op HIFAZAT-II (Manipur) from May’97 to Feb’2000.
The General has seen action in Op PAWAN in 1987 in Sri Lanka and has a vast experience in Counter Insurgency Operations, Line of Actual Control and High Altitude Area environment. He has also been awarded the Paramvishisht Seva Medal, Ati Vishisht Seva Medal and Bar, Vishisht Seva Medal and COAS Commendation Card for his outstanding contribution to the Indian Army.
The General has a wide ranging experience of various high profile command, staff and instructional appointments. He has commanded a Brigade in an operationally sensitive High Altitude Area in Op FALCON and a Mountain Division in Sikkim. On staff, he has served as a Brigade Major of a Mountain Brigade, Defence Attaché in the Embassy of India at Beijing, China, Deputy Director General, Military Intelligence (East), and Additional Director General Public Information in the Integrated Headquarters of MoD (Army). He is well accomplished in the Chinese language. He has taken over as Commandant of Army War College, Mhow after having successfully commanded the largest Corps of the Army, in North East. He has been an instructor in Counter Insurgency and Jungle Warfare School at Vairengte and in the Indian Military Training Team in Bhutan.