Sri S K Munjal, Vice-chair, Hero motorcorp, extolling the youth at Career Junction

INDIA is a very very interesting place to be today
– Every govt has done better than the previous one

– When we got independence, we called ourselves socialist democratic country, with market economy; very unusual and one of its kind
– It was a bipolar world, founders of non- aligned movement
– It address the needs of people and meets the needs of people
– We followed five year plan, borrowed from then USSR

– Everything was licensed, where, even quantity to be produced was also mentioned
– efficiency was penalized; greater production was penalized
– industry created liaising; how to get license, and how not to allow others from getting it
– monopolistic markets formed
– quality, consistency, choice, etc customer had no choice
– in 60-70s .. 2% GDP growth rate…Hindu growth rate
– Historically, a couple of hundred years ago, we were growing at 20% china grew at 30%

– Soon, India will be the single largest, in population
– we need to find an employment for 12-15 million people year on year for next 20 years
– We run a school in Ludhiana, for children of industrial workers, all come from UP, Bihar
– we are encouraging people to bring families, so that children get educated
– in the last year 12 in the top 50 of the state, last to last year state topper
– I am sharing this coz, if not for such opportunities, these would have never been benefitted

– if one of you becomes an entrepreneur, you will create jobs; imagine what one can do
– Now 8 year olds, 11-12 year olds are becoming entrepreneurs
– education gives added advantage

– We are trying to build a university that will be nursery for world leaders
– We bring in leaders and corporates to create learning experiences

– A large part of our economy comes from services
– Manufacturing is 16%
– Agriculture creates less and less jobs, we need tech, systems and process to make it better
– We are the largest producer of veg, milk, ….
– We are low on yield
– 54% of population still dependent on agriculture

– Every manufacturing job creates, 6 services jobs… Whole host of activities get created
– If we are to grow in every sense, it is expected that in real terms 3rd largest economy in 13 years
– Opportunities are immense
– there are areas within manufacturing that are large multipliers
– the policies on infrastructure creation can make a huge difference
– You create industrial complexes, suppliers, institutions…..entrepreneurs..
– Auto motive complex attracts ancillaries, suppliers
– In the US – steel, auto motives, home were in the order…..
– Example – 107 companies produces stuff for home infra
– Lack of infra, red tape, corruption are putting India down

– One of the recommendations made is to change interfaces between govt and industry, govt and people
– Get rid off all human human interaction. Get technology for interface…
– Please only looks at the best and better it; look at the country and better it …
– starting the companies..let us better Singapore; Law, better than Malaysia..
– you should be able to go and settle anywhere in the country

– plan your work, work your plan
– have passion, you can cover all the handicaps
– if you are driven by passion, no time limits
– today ministers are working overtime
– ‘why should not we be a 20 trillion dollar economy’ – Modi said; very inspiring, a profound statement
– biggest problems gives best opportunities

– infra is the biggest problems…..largest conceived Delhi-Mumbai industrial corridor
– high speed rail network corridor….100 Kim’s of industrial belt, smart cities
– smart cities are planned cities
– we have created only 5 cities in 60 years, china has built Over 100
– these cities will have tech, energy, food, logistics, places and work close, efficient mass transport system; water management systems… Clusters
– 7 seven smart cities have been signed
– modeled after Tokyo-Osaka corridor
– kol- Amritsar, Bangalore-chennai
– airports, highways
– waterways

– find opportunity for yourselves
– Abraham Lincoln failed so many times before becoming the President of the US
– Sunil Mittal failed seven times,….look at their perseverance,
– Sunil changed every model to become the best model in the world..

– You experiment with life..take sensible risks
– do not take wild gamble, take smart gamble
– opportunities in the new economy are new
– ecommerce companies valued higher than retail companies
– tech and communication is breaking all the barriers
– we are servicing the world
– we have opportunities; are literally all around us
– food processing, transportation; water, education, financial education
– SIP – saving and investment plan is an interesting

– 16% of world’s gold is in India lying idle??? if we can convert an instrument in making this financial opportunity
– world class companies have huge percentage of Indians
– never teach any one the answers, always ask them questions, so they go to find answers

– widen your horizons.. Learn about liberal arts, humanities
– Work towards lateral thinking, well balanced and well-rounded personality.

Wishing you all the very best.