The Hindu Business Line : `Businesses will turn investment focused'

'THIS WAY': Mr P. Ramaswamy, MD, Ansaldo Caldie Boilers India, Chennai, addressing the inaugural meeting of the BL Club in the Department of Computer Applications and Department of Management at Srimathi Indira Gandhi College in Tiruchi. — M. Moorthy

Tiruchi April 3 Innovation has shifted from product and technology to management of funds and projects in the current context. In a decade's time, businesses will turn investment focused, Mr M.P. Ramasamy, Managing Director, Ansaldo Caldie Boilers India, Chennai, said here on Tuesday.

Though the ill-effect of the trend reflected in declining importance for research and development, the scope for consolidation - incorporating the best practices of successful businesses - paves way for automation and standardisation of processes for the purpose of mass production of products to cater to the expanding market, Mr Ramasamy said inaugurating the Business Line Club at Shrimati Indira Gandhi College.

In future too there will be lesser focus on fundamental research; but greater thrust on consolidation. The best method for enhancing productivity is to get the equipment from other countries and introduce indigenous system of efficient control.

Relating the concept of import of automation devices and indigenous control system for mass production to the power sector, he said that industries were now able to set up complexes of 4,000 MW, comprising 800 and 1,000 MW production units making the most of the country's initiative to double the generation of power — that has reached 1,30,000 MW over the past five decades — within the next decade.

Cycle time reduction — through efficient management of material, men and machine — and conformity to `just in time' inventory, money and manpower mechanisms would help in cutting costs considerably in a situation of intense competition, he said adding that these cost-cutting measures and shedding of overheads has enabled private companies generating thermal power to offer their products at competitive rates.

The College Principal, Mr K. Meena, said the BL Club would function as a nodal entity to involve the participation of Confederation of Indian Industry and the Computer Society of India for exposing students of the MBA and MCA departments to the world of business and soft skills development.