The Hindu Business Line : Time to improve skill sets of the young, says Kamath

Mr K.V. Kamath (left), Vice-President, CII and Managing Director and CEO, ICICI Bank Ltd; Mr K.N. Shenoy, Past President, CII and Chairman, CII Institute of Quality, at the CII Quality Summit in Bangalore on Thursday.

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Bangalore, Nov 1 Indian companies have made rapid strides to achieve cost efficiency along with improving quality, but inadequate skill sets to match the future growth aspirations was an area that needs special attention.

Delivering his keynote address at the 15th Quality Summit organised by the CII Institute of Quality here on Thursday, Mr K.V. Kamath, Managing Director & CEO of ICICI Bank, said the challenge relating to human capital is far greater than the financial and technological challenges we face today. “We must leverage existing talent, enable entrepreneurship along with improving operational success. By the next decade, India will have the youngest workforce in the 22-45 age group as opposed to other countries. India needs to gear up to address the skill set needs of this talent pool”, he added.

Mr Kamath said “companies need to look at equitable social development by developing new models and innovative processes to tap the rural market. This innovation is essential for sustainable growth and will prove to be the distinguishing factor for the organisation.”

Summit theme

The theme of the summit, organised by the CII Institute of Quality, is “People to Profit: Driving Performance through Organisational Excellence”.

Mr K.N Shenoy, Chairman, CII Institute of Quality, said, “It is commendable how Indian companies have made a mark on the international arena by improving on the quality aspect. However, we cannot rely on past laurels and need to gear up for new challenges like environment, social and talent. The current situation underlines the significance of the Quality Summit that brings together industry experts on a common platform so that they can share and deliberate upon several issues such as sustained market leadership, societal aspirations, growth in the midst of environmental issues like global warming, making technological advancements and innovating continually.”

Awards announced

CII also announced the results of CII-Exim Bank Award for Business Excellence for 2007. The model has gained wider acceptance with participation of both public and privately-owned organisations from a wide range of sectors. Though there has been a rise in the number of companies that have been recommended this year, there were no winners for the top two honours of a Prize and Award. This year, only commendation certifications for Strong Commitment to Excel and Significant Achievement in certain areas of processes and practices were given to companies.

“This clearly indicates that while Indian companies are improving, there is a strong need to gear up for future challenges. This also sets the award apart from the rest, as it is not conferred by consensus but on the basis of the company following all the processes, said Mr S.K. Kakkar, Principal Counsellor& Head, CII Institute of Quality.

Mr S.R. Rao, Executive Director, Exim Bank of India, said, “A deep understanding of various facets of organisational excellence is a must. CII-Exim Bank awards not only recognises excellent businesses but promote understanding of the key elements necessary for long-term growth. These elements include technological progress, human development and building quality products and services”.

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