New Delhi [India], November 29 (ANI/SRV): Mumbai witnessed the exchange of opinions, and to make this event more meaningful and evocative, Mangal Prabhat Lodha, Minister of Tourism, Skill & Entrepreneurship and Women & Child Development, Government of Maharashtra, was the Chief Guest.
The interactive fireside chat was chaired by Guest of Honor: Nirmal Jain, Founder & Chairman of IIFL Group, and Vijay Chandok, Md & CEO of ICICI Securities and member of Thought Leaders of India; the session was moderated by Alex Mathew, Deputy Editor BQ Prime.
In his welcome address, Rishi Kapoor, Partner & Business Head at Sapphire Connect, said, "Thought Leaders of India recognizes and honors each one for the best and brightest entrepreneurial and business success.
The exclusive engagement will play host to business leaders, entrepreneurs, investors, and policymakers as we progress from being a fraternity of 70 members to the current 300 members.
Start-ups are the new motion; a little spark becomes one, and many start with a stimulus and soon dwindle as they need help understanding the importance of honing the right skills. Skill Development is a required field on which our Indian Government is also emphasizing and has introduced Skill Development Programmes at various levels for varied domains.
Mangal Prabhat Lodha, in his speech, mentioned that in today's world, removing time for others and Re-contributing to society is done only through ethics and ethos, our country India is an ocean of culture, character, and integrity.
Regarding skill development, Mangal Prabhat Lodha motivated Thought leaders to open skill centers for their respective skill sets and incubation centers.
During the Interactive Session on "Entrepreneurship Vs. Intrapreneurship" Mathew talked about the Indian population and its growth in manifolds. Also, the soon becoming the world's most populated country had shown everyone the silver lining in the dark cloud by bringing up the fact that India has the lowest median age, i.e., between 15-29 years, of age, entering the workforce, and mainly are entrepreneurially driven perhaps they are more interested in starting businesses.
When Nirmal Jain was asked, he said that he had a different context "as we go 28 years behind, things were different as capital like today was not readily available, and there was a stigma of failure. However, the USA has always been a fertile land for opportunities, but today the scenario has changed; also India has grown globally, the technology has integrated, there is motivation and entrepreneurs are awarded, and foreign capital is available, and this is the force that will drive India for faster growth."
Chandok added, "that apart from the stigma of failure, even the ability to fail was also not existent, people were looking for better jobs to have a better life than what they had led. He could resonate with Jain's words that the youth is not desperate, the well-being is far better and can take risks, capital is available, opportunities are plenty, and liberalization has happened. Technology is also making it possible to take a leapfrog, one can fast forward things very quickly, and thus the whole environment has become more congenial, and India is far more poised today.
What is Intrapreneurship? when asked Chandok, he said it is a state of mind; for Intrapreneurship in an organization, the leader and his stance are significant and has to create an environment that is to foster entrepreneurship; the facets shall be empowerment and tolerance to failure, Intrapreneurs should understand the consequences of failure too.
The entrepreneur's benefit is the ability to create something that never existed, and he said ICICI had once been such an organization. To this, Nirmal added that with the change in the approach today, employees are also stakeholders, and the thin line between Entre/ Intrapreneurship is blurring, and the employees are now hired on a partnership model, which becomes a great motivational force.
The discussion was very informative and talked about the challenges of the past. It also touched the cakewalk for entrepreneurs in the present with readily available resources in terms of finance, ideation, and motivation.
Self-motivated youth of today is enthused by endeavors in that they like to excel. Every business needs Sustenance & Survival' as rightly expressed by panelists who have shouldered almost three decades of experience sailing through and embracing the changes.
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