The annual HR & Leadership Conclave of One Year Full Time Residential Post Graduate Programme in Management (EPGP) started at IIM Indore on November 09, 2019. The two day event this year is focused on the theme—‘India’s Roadmap to USD 5 Trillion Economy’. The conclave will host business leaders from across the corporate world to express their views and share experiences. The two day event will witness one keynote address, panel discussion, case study competition, leadership talks, quizzes, EPGP iKON Guest Lectures and a tree plantation drive as well.
The first day of the event began with the inauguration in the presence of Mr. Vinayak Marathe, SVP, Reliance Industries Limited—the keynote speaker for the event; Professor D.L Sunder, Professor Manoj Motiani, Professor Dipayan Dutta Chowdhury & Professor Prashant Salwan, Faculty Members, IIM Indore. Professor Chowdhury welcomed the guests and the participants. Professor Sunder then shared about the various initiatives of the Institute and the milestones achieved. Professor Salwan explained the theme and the objective of the conclave. He noted that in order to take India to a 5 Trillion USD economy, the youth today needs to be skilled in marketing, operations, management, finance, statistics and accounts among various other skills too and EPGP is one such programme offered by the Institute which helps the participants enhance these skills.
Mr. Marathe then gave the keynote address on the theme of the conclave. He noted that India has seen three revolutions yet. The first was the industrial revolution, the second was the information revolution and the third one is the present scenario—the digital revolution. ‘Today, participants need exposure to national and international learning and opportunities; and this can be provided to them only if our economy continues to grow further.’ Sharing details of the economy he noted that India has witnessed an increase in the GDP from 1.9 trillion USD in 2014 to 2.8 trillion USD in the year 2019 and the average rate was 8%. ‘To achieve 5 trillion USD economy, the target average growth rate required is around 11% over the next five years’, he said. He then also discussed that Asia-Pacific region is likely to face a shortage of 12.3 million workers by 2020, with the opportunity cost amounting to USD 4.2 trillion. ’42 percent of the core skills required for the jobs would change and in India; over 12 million youth between the ages of 15-29 years will enter India’s labour force annual for the next two decades’, he said. He then said that it’s the need for academia to collaborate with industry experts to redesign educational curriculum and make training of workforce competent with current industry demands. He then also shared insights on various key enablers for the 5 trillion USD economy namely, stable society, better infrastructure and supply chain, good governance, more jobs and skilling, banking and secured digital economy, better higher education, improved productive sectors and urbanization and empowering big cities as well.
This was followed by a Panel Discussion on the topic Human VS AI—Solving the Rubik’s Cube, with Mr. Bikram Nayak, Head HR- L&T, Mr. Prabhakar Tiwari, CMO, Angel Broking and Ms. Chetna Gogia, VP HR, Policy Bazaar as the panellists. Professor Shweta Kushal, Faculty, IIM Indore moderated the session. Ms. Gogia said that Artificial Intelligence will automate tasks, not jobs. It may be of help in the coming years. Innovation in AI will also help in industries becoming more efficient and productive. Mr. Tiwari agreed to this and discussed about AI replacing humans at workplaces. ‘There might be loss in jobs, but may new jobs would also emerge due to AI. The business process will transform in the coming years and prosperity and happiness will follow’, he said. Mr. Nayak noted that AI helps in brining discipline. The panellists also shared insights on the advantages and disadvantages of AI in multiple fields.
The second panel discussion was on Translating Ideas into Enterprises. The panellists included Ms. Asha Subramanian, Sr. Director HR, GoIbibo; Mr. Umakanth Nair, SCM Head, John Deere; Mr. Rahul Rekhawar, IAS, Jt. MD MSEDCL. The session was moderated by Professor Manoj Motiani, Faculty, IIM Indore. On dealing with the glamour of innovation, Mr. Rekhawar said that since all ideas are related to internet technologies, entrepreneurs should also look to speed up government processes. He also said that teachers should always keep on experimenting the teaching methods and try coming out of their comfort zones. Ms. Subramanian while discussing about analysing customers’ problem said that speaking directly with the customer solves the majority of the issues. She said that her company does such visits to the customers on a regular basis. Fear of failure is faced by everyone. Mr. Nair noted that government should ensure that such problems reach the right people in the industry who can help in sorting it out.
The third panel discussion witnessed discussions on Reshaping Labour Market With Digital Disruption. The panellists included Mr. Satyajit Mohanty, CHRO (Digital Transformation & HR Innovation and Analytics), Crompton Greaves; Mr. Lakshmanan MT, CHRO, L&T Technology Services; Mr. Abhijeet Parlikar, Sr. GM HR, John Deere and Mr. Rushikesh Humbe, Vice President HR, Merkle Sokrati. The panel was moderated by Professor Kajari Mukherjee, Faculty, IIM Indore. The panellists shared their views on what jobs would people have and how will they earn in the coming years. Mr. Lakshmanan noted that artificial intelligence will remove the intermediaries and that people should now move to core areas. He also said that there will be a large scale migration from unorganised sector to organised sector. The gig economy will rise, aided by digital transformation. Mr. Parlikar said that there is a digital disruption, hence we need to think of how we re-skill those employees and how we prepare them to face this future. Mr. Mohanty while discussing about technology said that its impact is overestimated in the short run and underestimated in the long run. 3D printing and AI are creating large impacts. Mr. Humbe then discussed about the hiring pattern. He said that the pattern of hiring is changing and there are digital platforms to engage with potential candidates.
The event this year also had a special section—The Startup Story, wherein Mr. Mr. Devesh Verma, CEO & Co-Founder, The Savage Humans. Speaking of entrepreneurship, he encouraged the participants to be in the business of creating value, and not just focus on making millions and billions. ‘Do not do it just because others are doing it. Have the team spirit, along with leadership qualities, aim to work for the welfare of the country and then only you’re a successful entrepreneur’, he said.
The event had a case study competition, Inventum, in which more than 300 participants from across the nation have participated. The first day of the conclave concluded with a vote of thanks. The second day will witness a tree plantation drive by the delegates, iKON Guest Lecture Series by the experts.