At a time when the outlook is looking gloomy, rupee is depreciating trade wars are on and oil prices are rising, the future will be led by leaders who can adapt and navigate through these uncertain situations, opined experts speaking in the 9th edition of CXO Meet 2019 organised by the Confederation of Indian Industry (CII) Pune Zonal Council.
Speaking on the occasion Madhav Kalyan, CEO JP Morgan Chase Bank said that for the first time in seven years India has seen GDP fall to less than 6 per cent in back to back quarters. Part of it is due to the global conditions while a lot has happened due to domestic factors including the structural changes, he said.
Delivering the theme address, Arvind Sethi, partner Assurance SRBC and Co LLP said, “ In all these uncertainties we need to be innovative and differentiators on an ongoing basis. Disruption is the new normal and the new workforce needs to take the digital path and stay ahead of the curve”.
Sachchidanand Shukla, Chief Economist, Mahindra Group spoke about the intersection of economics, finance and technology. He said that the breakneck speed of growth has suddenly stopped and the slump in the productivity might be the main reason behind sustained moderation in GDP growth in the post financial crisis period. Most shocks today are originating from the western world which has kept us on tender hooks, he said. Citing the impact of profitless growth because of the collapse of nominal GDP growth, he added that inflation is related to the topline of the companies and the policy makers need to infuse some good inflation.
Sachit Nayak, Convenor CII Finance and Taxation panel and Finance Director India – Eaton said that it is important to crack the VUCA code (Volatile , Uncertain, Complex and Ambiguous). The new leaders should lead in a collaborative way rather than with authority.
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