The Hindu Business Line : Industrialists must turn `creative leaders'

CENTENARY RELEASE: The President, Mr A.P.J. Abdul Kalam, receiving a copy of `Emerging India-Knowledge Banking' from the PHDCCI President, Mr K.N. Memani, at the centenary celebrations of the chamber in New Delhi on Wednesday. Past presidents of the chamber, Mr S.P. Virmani, and Mr Raghupati Singhania (right), who is Chairman of the Centenary Celebrations Committee), are also seen. — Shanker Chakravarty

New Delhi , Dec. 21

THE President, Mr A.P.J. Kalam, today asked the captains of industry to become "creative leaders" to address the future needs of economy.

Speaking at the Centenary Celebrations of the PHD Chamber of Commerce and Industry (PHDCCI), Mr Kalam outlined a holistic model of overall development of the economy and society, with emphasis on inward and outward flows of FDI, bringing the IT sector to rural areas, a comprehensive energy security programme and a big boost to agriculture.

A key component of the President's model of development, aimed at transforming India to a developed nation by 2020, included the pioneering role that the banks will need to play and resurgence of venture capital to generate new enterprises.

"We need creative leaders. Creative leadership means exercising the vision to change the traditional role from the commander to the coach, manager to mentor, from director to delegator and from one who demands respect to one who facilitates self-respect. I am sure creative leadership spearheads all the institutions and the future inspiring institutions," Mr Kalam said.

Stating that FIIs find investing in India attractive, Mr Kalam took note of a new trend in the economy — an increasing number of Indian companies investing abroad and staring new business ventures.

"For a prosperous and developed India, the important thrust will be on the growth in the number of creative leaders and innovative organisations that can create wealth through dedicated management systems. In addition, the members of the PHDCCI can work out a plan for a new type of venture capital to generate new enterprises," he said.

The Government was committed to increasing the current growth rate of around seven per cent to 10 per cent in the medium run.

"This calls for the agriculture, manufacturing and service sectors becoming globally competitive," he said. The President highlighted five areas where India has a core competence for integrated action, namely agriculture and food processing, reliable and quality electric power, surface transport and infrastructure for all parts of the country, education and healthcare, information and communication technology and strategic sectors.

The President said the corporate sector has to participate in a big way in alternative energy programmes and asked the banking sector to financially support these programmes in a big way.