The Hindu Business Line : IOC chief sees explosion in consumer demand

Ms Rajini Seshadri from Tata Consultancy Services receiving the `MMA Outstanding Woman Manager of the Year' award from Mr M.S. Ramachandran, Chairman, Indian Oil Corporation, at the International Women's Convention organised by the Madras Management Association (MMA) in Chennai on Saturday. Mr M.S. Kumar, President, MMA, and Ms Jayshree Venkatraman, Chairperson, MMA-WMF, and Director, TAFE Access Ltd, are also seen.— Bijoy Ghosh

Chennai , March 6

THE Chairman and Managing Director of Indian Oil Corporation, Mr M.S. Ramachandran, said on Saturday that he foresaw "an explosion in consumer demand in the coming years, fuelled by decreasing prices and growing disposable incomes''.

Delivering the inaugural address at the International Women's Convention of the Madras Management Association, Mr Ramachandran said that the Government's initiatives like reduction in input prices by cutting import duties "will also cause domestic markets to explode''.

However, it would not be a cakewalk for corporates, he noted. With deregulation, new sectors are opening up and new entrants are posing growing threat to existing players. "Tumbling tariff layers are making our jobs even more challenging," Mr Ramachandran said.

Corporate India is struggling hard to come to grips with challenges thrown up by liberalisation and globalisation that have opened doors for multinationals to set a field of competition. To do well in this competitive environment, organisations should not only have a shared set of organisational values, but also these values would have to be practised by every employee, everyday. The convention focused on the role of women managers in corporate success, especially in corporate governance, social responsibility and evolving leadership.

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