I started my career with Wipro in 1983 recruited straight out of BITS, Pilani. I joined freshers from IIMs, RECs, IITs, and IISc, who Wipro had chosen for its newly formed Information Technology Division. During the next three months of orientation training, I heard many different folks from R&D, Sales, Quality, Manufacturing come and talk to us on different topics. We had an impressive sales training workshop where all of us were put through the hoops on how to talk and interact with customers, through role-playing. The climax was, of course, the address by A. H. Premji where he talked not about revenues or bottom line, but about Wipro's value systems and beliefs, and his vision for the kind of organization he wanted to build where means mattered as much as the ends. The impressions of Wipro that formed in me then, are still fresh in my mind: That of a big company out to change India's IT landscape. An A-class leadership team with impeccable credentials - top-notch engineers and MBAs with experience in blue chip companies including the Tata Administrative Services. A company that wants to do the best for its customers. And, above all, a company that while striving for the greatest heights demanded the highest level of integrity from each of its employees. We had all the bearings and élan of a company that was prepared for the long haul.
Looking back, it is obvious that Premji was not thinking short term! He was laying the foundation for what he obviously believed was an opportunity to build a global player in the nascent high growth technology industry. He was choosing each person on the team with care; much like a builder would pick his materials if he were aiming to build a skyscraper. Hats off to Premji and his likes, for honestly, to most of us, the India of that era did not look or feel like it had the potential to be a technology powerhouse. These pioneers had to do a great leap of faith then, but today they stand vindicated many times over.
Now, fast forward to today. Unlike that era, the India of today feels like a very different country. During the last couple years, we have seen the Indian economy come out of recession faster than any other country in the world. Employment numbers are up. Consumer confidence is up. In fact we are doing a lot better than where we left off in 2007. For, this time our growth is across sectors and is beginning to be driven by domestic consumption. President Obama visited us to strike deals that would generate jobs for Americans (!) And the French and Chinese leaders closely followed him, for the same reason really. The mood in our country is decidedly upbeat, as we look forward to doing even better in the coming year.
While we have had a couple brief periods of 'India Shining' in the past too, this time somehow, things appear to be for real. We seem to have entered a secular period of sustained growth since the last 10 years. Governments have come and gone across the country, but the economy has marched on unabated at 8-9 per cent growth. We are seeing growth across sectors, and across geographies - witness Bihar in the last 5 years! Interestingly, India's growth momentum is accelerating at the same time that the developed world appears headed for a sustained period of slowdown. And this is sending large quantities of much-needed capital our way, which is being used to create physical, social and economic infrastructure at a pace and scale we have only dreamt of hitherto. It does appear that the 'decoupling' of our economy from the west that pundits have been predicting for long, is now underway indeed.
Now, add to this all the inherent advantages we have known we possess as a country, and we can see why the world is looking to India as one of the future engines of economic growth. We have one of the biggest talent pools in the world today; especially if we include the Indian Diaspora which is more than ready to pitch in to fill the skill gaps, be that in technology innovation or international marketing. We understand the language of venture capital, start-ups and entrepreneurship intuitively, given our thriving small business culture. We have an independent and functioning judiciary. Our democracy empowers people to demand equal chance at growth. India has an enviable demography wherein more than 50 per cent of our population is below the age of 25, and more than 65 per cent are below the age of 35. Plus our economy is predominantly led by services and domestic consumption very much like the US economy and quite unlike others.
Indeed, today, the state of our economy is a lot closer than we realise to that of post World War II USA, when the term 'American Dream' began to imply boundless opportunities to anybody who dared to dream. When the US became the magnet for attracting capital and talent from across the World; When it became the fountainhead for new ideas in finance like private equity, venture capital and sweat equity; When it grew the World's largest enterprises like GE, HP, Walt Disney, WalMart, Apple, Microsoft and set the tone for a sustained economic leadership. The art and science of 'management' evolved and took root during this period with new concepts like strategic thinking, the 4Ps of marketing, assembly line manufacturing, global sourcing, mass merchandising, etc., teaching people how to build successful organisations.
Could this then be our time to do the same? Can we dream of creating our model of World-class organisation - like Bharthi did in Telecom? Like Wipro, Infosys did with IT Services? But many times over? Perhaps a new model of retailing, a new banking system that lends itself to the needs of our country and then to the rest of the emerging world. Imagine what it would mean not just in terms of the number of jobs but the quality of jobs. It would mean that our best executives could be in Jeff Immelt's or Indra Nooyi's shoes sitting in India. No more perceived or real glass ceilings, which prevent our best people from reaching the top slot. We would have new management theories originating from here as we learn from our failures and successes. No more waiting for a Facebook to arrive at our campus to dole out jobs. Our elite kids will have the opportunity to take up jobs where they will rewrite entire industries!
But for all these dreams to become reality we need the leadership, which comes with a brand new mindset. A leadership, which has the confidence and audacity to believe that we can be the America of tomorrow in our own way. A leadership like Premji's in the 80's, which is thinking very long term and is therefore working to lay a strong foundation. A foundation comprising of the best people; A foundation, which is built on the right values; A foundation, which can support not just an organisation but also the community around it. We need leaders who are thinking transformational and therefore have the patience to do things the right way at a sustainable pace.
We are today at the cusp of 'once in a life time opportunity' to create history. This moment comes but once in the economic history of countries and we are very fortunate to be in the midst of it. The dimensions and contour of what we can achieve is truly mind-boggling. This is the time to think long term, think big and think global. It is a time for fundamental transformation when we need to rethink education, finance, infrastructure, technology, the whole works. It is the time to unshackle ourselves from old mindsets when we looked up to the West for all answers. Can we make a start with 2011? Can each of us resolve to think and act on a different scale from the past years?
In the end the choice is for each one of us to make. For if we do not somebody else will come and grab the opportunity. Remember East India Company?
Wish You All A Very Happy New Year!
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