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𝗥𝗲𝗻𝗲𝘄𝗮𝗯𝗹𝗲 𝗗𝗿𝗲𝗮𝗺𝘀 𝗮𝗻𝗱 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗥𝗲𝗯𝗶𝗿𝘁𝗵: 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗗𝘂𝗮𝗹 𝗖𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁 𝘁𝗼 𝗮 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗧𝗼𝗺𝗼𝗿𝗿𝗼𝘄 ♻
Today, India is discussing two (2) different news. The Union Cabinet, chaired by Hon’ble Prime Minister Shri Narendra Modi, approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs. 7453 Crores, including an outlay of Rs. 6853 Crores for installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and grant of Rs. 600 Crores for up-gradation of two ports to meet logistics requirements for offshore wind energy projects. The successful commissioning of these offshore wind projects will produce renewable electricity of about 3.72 billion units annually, which will result in the annual reduction of 2.98 million tons of CO2 equivalent emission for a period of 25 years.
Earlier today, the Hon’ble PM inaugurated the new campus of Nalanda University at Rajgir in Bihar, close to its ancient remnants. He also planted a sapling as he inaugurated the campus. The inauguration ceremony was attended by several distinguished individuals, including heads of missions from 17 countries. The campus is designed as a ‘Net Zero’ Green Campus, making it self-sustaining with the help of solar plants, domestic and drinking water treatment plants, a water recycling plant for reusing wastewater, 100 acres of water bodies, and numerous other environment-friendly facilities.
The common thread in both the news illustrated above, is the focus on a bright future for the people – education and environment – technology being an enabler. Contemplating these events of hope, the sight of a thermal power plant emitting harmful gases to the environment flashed, captured while visiting the city of Jhansi, more than a decade ago on an official assignment. It again reminds us of an urgent need to take urgent steps to abate the harmful impacts of the pollution by fossil by implementing suitable De-SOx or FGD, Decarbonisation measures, etc.
Incidentally, June 18 is a day of remembrance for Jhansi (and Bharat), famous for being the princely state whose legendaryQueen Laxmi Bai, dressed as a man, got killed in the combat while leading the war for independence against the British empire 166 years ago. Some believe that the Rani (Queen) did not want the British forces to capture her body and told hermit to burn it. She, among others, inspired generations of freedom fighters whose resolute struggles led to India’s independence.
The contemporary challenges facing us are diverse, and we, the society and our leadership, must strive for a sustainable habitat, cleaner air, and healthy living conditions for progenies. This will be our real tribute the ‘Rani’ 👸
Credits to Owners
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👑 Leadership 🌟 – My 2 Cents
We often come across discussions about leadership skills among budding professionals. However, it is more critical for senior professionals as they do influence their juniors.
I would like to share my bit of understanding in this regard especially for professionals entering the public domain. Though my view is predominantly shaped and influenced as and for engineers, I believe the same would be apt for others as well. This is primarily because behavioural traits are profession agnostic to a large extent.
Taking the Ownership and exhibiting Empathy – are two (2) most important attributes for anyone to grow as a leader in their chosen field of life.
Owning the responsibility is foremost prerequisite to see and execute the tasks as envisaged. Ownership simply means taking the charge of the situation as and when it occurs and then the magic starts. It is always preferred that a professional ‘consistently exceeds the requirement of the job’ than assessed as someone who just ‘consistently meets the requirement of the job’ or even ‘sometimes exceeds the requirement of the job’ and accordingly gets evaluated in the performance appraisal. The urge to consistently exceed the requirement set forth would certainly come from the ownership trait.
Another equally important attribute is empathy i.e., the ability to understand and share the feelings of another. This brings to the fore the emotional quotient of the professionals in appreciating the other’s point of view. Once we are aware of the situation of our counterpart (be it junior, peer or superior; associate or customer, etc.), it becomes easier to converge and agree for action in order to achieve larger goal.
Ownership and empathy complement each other and reinforce the leadership skills and guide professionals in achieving success in their chosen career.
This post is in sheer appreciation for two of my valued colleagues who demonstrated the above-mentioned attributes in an assignment today.
Best wishes!! Vinit K Verma GIRIJESH PRASAD
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🏭 Peer Learning – A Critical Aspect in Learning Journey
🕯Learning is not just about certifications; it basically is about being better than before.
🕯An important aspect of the learning journey is ‘peer learning’ and it is equally relevant either in formal educational classes or training sessions.
🕯Adequate cohort strength and multi-faceted discussions, including on social media platforms like WhatsApp, bring opportunities for everyone to accumulate knowledge as much as possible.
🕯Various classwork or syndicate groups help to carry out various assignments during the program channelize the collective wisdom of the group for the benefit of everyone.
🕯In the post-Covid19 world, we see a hybrid/ blend of physical and virtual interventions. When planned meticulously, they leave no room for any regret concerning the delivery and grasp of the program topics.
Anything you like to add….
Winning with Ordinary Resources – A resolution for 2024! 🚵♀️
Traditional Resource Based View suggests Firm should build a Strategy on ‘Rare’ and ‘Valuable’ Resources for Competitive Advantage. Should a case not be made to build our company’s strategy around the ‘innovative’ use of quite ‘ordinary’ resources and not necessarily run behind acquiring the exceptional ones? Generally, an organizational set-up aims to utilize strategic resources to deliver at their level, whereas ordinary resources are leveraged to achieve the outcomes.
As per the typical bell curve of performance assessment, we find ~80% of resources would be categorized as ‘non-extraordinary’ but still needed and to be nurtured for achieving organizational goals.
Rahim’s couplet appreciates the importance of every resource in realizing our goal.
रहिमन देख बडिन को, लघु ना दीजिये डारि|
जहा काम आवे सुई, का करी है तरवारि||
In 2024, let us resolve to achieve success even with seemingly ordinary resources in our personal and professional journey.
AADIM-SANSKRITI – Promoting Indian Tribal & Folk Music, Art and Culture
Let me introduce you to ‘AADIM-SANSKRITI’, a not-for-profit organization headquartered in New Delhi, working since February 2017 to promote Tribal & Folk music, Art and Culture as well as creating awareness among the tribal communities about the richness of the heritage we possess on pan-India basis.
It was a pleasure interacting with Mr. Rudra Mani Patra, the Founder and General Secretary of the organization. He holds a doctorate in Hindusthani Vocal Music, from Faculty of Performing Arts at BHU, Varanasi, my alma mater as well. He has dedicated himself to the cause.
AADIM-SANSKRITI is organizing 3rd edition of ‘Banbasi Mahotsav’ (Festival of Tribal Dance and Music Forms) in a remote village in Keonjhar district on 29-30 December 2023.
This is a call to support the organization and their efforts by way of sponsorship, and this will be great fillip to the participating artists and motivate them to do better in their pursuit of preserving and promoting India’s tribal culture.
Relevant information including verified bank details are available in the enclosed document. The organization is registered under the Societies Registration Act, 1860. Will share more details of organization/ events if anyone wishes to.
You may revert to me on inbox or directly contact Mr. Patra on aadimsanskriti@gmail.com for any further information.
Nothing is Impossible – Guts & Glories from Asian Games ‘23 🏅
From boasting to host the inaugural edition of the Asian Games in 1951 to securing the highest-ever tally of 107 medals, India and our sports ambassadors have come a long way in the journey. Sharing my article from our in-house magazine ‘EKAM’ with my friends.
The tales cited are representational of the true sports spirit with which our athletes have not only just performed and won laurels but also of the process of dedication and practice they undergo and transform from being merely a ‘commoner’ to an ‘achiever’. Each of the 249 medallists in the Asian Games 2023, has a story to tell and a determination to inspire millions of young Indians.
Not to forget, the performance of 16 years old ‘golden girl’ Sheetal Devi, the only current female international archer who shoots with her feet. Her incredible performance at the Para Games (India finished with the best-ever medal tally of 111) shall remain an inspiration and a glimmer of hope for millions. Watching her take the shot is a feat to the eyes.
Credit: Various media reports
Should Prices Rise? ⏫ – An Unpopular Opinion
Yesterday, it has been reported that India’s retail inflation has eased to a 3-month low of 5.02% in September from 6.83% in August. Food inflation has also declined due to easing of vegetable prices and is a welcome sign.
Bharat i.e., India measures inflation as Consumer Price Index (CPI), the most widely used indicator of inflation, is a measure of price change (usually every month) at the retail level based on 260 commodities, including few services. Wholesale Price Index (WPI), a basket of 697 items, is another measure of inflation (started from January 1942) and Reserve Bank of India (RBI) was using it for formulating the monetary policy until 2014. A base year is used to compare the rate measures.
The inflation target is set by the Government of India in consultation with the RBI once in 5 years. The prevalent inflation target (CPI) is 4%, with a ±2% tolerance band i.e., 2% – 6%. Over a period of 65 years from 1958 till 2022, Bharat i.e., India witnessed inflation of 0% in 2 years, negative in 2 years and >15% in 3 years.
Does this mean, we need to have zero or negative inflation? The answer is a firm ‘no’ and anything which signals this brings a worrisome scenario of gloom. In this context, it would be pertinent to mention a quote from the 6-May-2023 statement of Federal Open Market Committee (FOMC) of Federl Reserve of the United State of America (USA) as: “The probability of an unwelcome substantial fall in inflation, though minor, exceeds that of a
pickup in inflation from its already low level.”
The scariest episode of ‘deflation’ in world’s history is known as ‘the Great Depression’ which lasted for 10 years from 1929 to 1939. A depression is an economic collapse, a social catastrophe.
1960’s India witnessed 2 wars (1962 & 1965) and 2 droughts (1965 & 1966) which spiked the inflation but was eased in 1968-69 due to bumper crop and Green revolution initiatives. 1975-76 saw the government resorting to stringent credit curbs causing widespread resentment in the industry which was already short of funds for maintaining its business as usual. The final data for this duration was an almost zero inflation. This led to the government to publicly state that priority and core sectors would not suffer from paucity of funds for legitimate purposes.
The current geopolitical scenario has the potential to disrupt the economy again. We hope this macroeconomics indicator remains good on this front and monetary policy of RBI responds suitably.
Further read:
1. https://lnkd.in/dX6UWxzc
2. https://lnkd.in/d7_tzbaW
3. https://lnkd.in/djEN5Qzu
4. https://lnkd.in/dHNyYAEg
5. https://lnkd.in/dmSeTrug
6. https://lnkd.in/dMn5R4ib
Manager with the Team – A Fire Breathing Dragon 🐉
Indian team beat Australian team in World Cup Men’s Cricket match yesterday, October 8, 2023. It was a convincing win, and the scoreboard would illustrate it did see exciting moments the game is known for. It was no surprise, and the odds were equal for win or lose. More than a decade in history, a match against Australia used to be a big thing. We have read and heard several editorials and commentators that Indian team lacks the ‘Killer Instinct’ Australians were especially famous for.
The scenario changed with the legendary captain Sourav Ganguly – the ‘Dada’ of Indian cricket. He instilled a champion mentality, nurtured young talent, and transformed the Indian Cricket team in his captaincy into a formidable force to reckon with at the world stage. The Natwest Trophy Triumph of 2002 and Dada’s iconic T-shirt celebration at Lords against England team is recorded in history.
In a similar context, the biography on Elon Musk published in September ’23 mentions about non-suitability of Parag Agarwal as CEO of Twitter (now renamed as ‘X’). “What Twitter needs is a fire-breathing dragon and Parag is not that,” Elon Musk told Walter Isaacson after his meeting with Parag in March 2022. Musk termed Parag as “a really nice guy” and quipped that managers should not aim to be liked. We can debate on what a manager should be or not, leader versus manager traits, etc. It also depends on the organizational and cultural requirements and many other aspects of team building, survival & transformational needs, agency problem between executives and owners etc.
Whatever be the case, a manager with the team, must be A-Fire-Breathing-Dragon. In the mythological stories, a-fire-breathing-dragon has been a symbol of power, strength, good fortune, fear, & destruction. The dragons are believed to possess magical powers and they are revered in some cultures (Chinese) and feared in some (European). Irrespective of their place in cultural milieu of various geographies, the dragons are go-getter and possess the ‘killer-instinct’ we just talked about.
It is right that the managers need not aim to be liked; rather they are required to become an example of getting the things done for realizing the organizational objectives. Manager and the team are one in the pursuit of the goal.
Anything you may like to add…
🎯 I believe in Myself, Not in Your Opinions
Just came across a news article stating opinion of Nick Allan, CEO of firm Control Risks, reproduced as: “Companies considering India as an investment destination are concerned over long-term outlook of the India-China relationship, besides factors such as competitiveness, the Centre-state polity, societal conflicts, short-term infrastructure and skill availability.”
It reminded me of an anecdotal experience from around 2018 of a discussion with a company from an Asian country for a Product having application in Flue Gas Desulphurization. The company had a limited range of offerings. When asked for the sequence of product development, they said that it was in licensing arrangement (seems, gone sour later) with a European company. Incidentally, we had earlier received a firm denial from the same European company that they did not want to share the technology to anyone.
It is not uncommon for companies from Americas & Europe, the so-called ‘developed’ world, to remain skeptical about their partnerships especially regarding sharing technology with the companies from the global south countries. There may be reasons for such skepticisms, but I would like to state here that India does provide adequate platform to overseas companies for protecting their techno-commercial interests. Resolutions of Cairn Energy, Vodafone disputes and recent historic agreement between Air India and Boeing for 200 aircrafts, showcase India’s evolving regulatory framework and reemphasis for global trust on contracts with Indian businesses.
Recently, in a report published by the Economist Intelligence Unit (EIU), India has moved up to 10th rank in terms of business environment for 2023-27, from the 14th rank in 2018-22. It is a continuous process and shall remain so for India’s transition to a mature market from emerging one.
India needs global investments to boost her manufacturing & technological industry for uplifting living standard of over 1.3 billion population -need of the hour -given the importance companies accord to Sustainable Development Goals (SDGs). United Nations’ chief has also said recently: “The SDGs need a global rescue plan.” Industrialized nations must do their part.
Nevertheless, it is also important that Indian companies must also join hands in exploring new advancements not only in terms of operations but also for the research and development. MOUs and Partnerships agreements entered by and among Indian Public Sector companies like BHEL, Coal India, ONGC, NLC, IGL, NTPC, NPCIL etc. to embark on a journey exploring applications of the emerging & critical technologies. ‘REVO’, is one such example wherein two Indian auto majors Tata Motors and Mahindra & Mahindra are collaborating for the development and production of Electric Vehicles (EV). UPI is our pride and hope to see the list growing bigger and better.
May Lord Ganesha’s blessings always be with us. Happy Vinayak Chaturthi!
Image: Braj Singh
G20 – One Earth, One Family, One Future – Bharat i.e., India
#SAARC#BIMSTEC#USAN#BRICS#SCO#ASEAN#NATO#WARSHAWPACT#OECD#G7#PCT#MGC#GCC#NAFTA#OPEC#AFRICANUNION#ANZUS#CIS#NORDICCOUNCIL#APEC#OIC#BSEC#UNITEDNATIONS#NSG#EU#G20 etc.
In all the above groups of countries representing either pollical or economic or military blocks, the G20 group, or Group of 20 is an intergovernmental forum comprising of nineteen (19) sovereign countries, the European Union (EU), and the newest entrant, African Union (AU). The G20 group has the membership of almost all the other groups or has significant influence over other regional blocks and that’s why it is extremely important for the world. This block is composed of most of the world’s largest economies both industrialized and developing countries. It accounts for more than 75% of gross world product (GWP) and international trade, more than 60% of the global population and the world’s land area. Any act of a member G20 country can be a reference for another in any part of the world and it can have a multiplier effect.
Without going into the specific outcomes and declarations, the spectacle Bharat witnessed over a couple of days last week will be recorded in history. G20 India 2023 was the 18th summit to be held in New Delhi under India’s rotational presidency.
Moreover, the topics and deliberations on Biofuel Alliance, Emerging Critical Technology, Sustainability, global peace, international cooperation were in focus, and we hope to see significant investment in green energy for a better tomorrow. Another historic announcement by the Indian prime minister, Narendra Modi, and the European Commission president, Ursula von der Leyen was of an ambitious plan to build an economic corridor linking Europe with the Middle East and India via rail and sea. The project was described as a “really big deal” by the US president, Joe Biden.
Lastly, the event also marked a special dinner invitation with the seal of the head of state, in the name ‘Bharat’, a welcome change, which invited a huge response from the people.
Rajesh Ranjan's Weblog 