Mumbai: 15th March 2019
To understand the business environment of India, 40 students from the Florida International University visited NMIMS for an International Immersion. After a visit to companies like PVR and Bisleri to get acclimatized to the way Indian companies function, the students had a one-hour engaging session with Mr. D Shivakumar on ‘Indian Business Environment and Internationalization strategy,’ wherein they were taken on a socio-economic journey of the country.
Mr. D Shivakumar is the Group Executive President – Corporate Strategy & Business Development of Aditya Birla Group. He gave an honest insight on how emerging markets work differently from the developed markets.
He covered three major aspects of doing business with India:
- Knowledge about India: Shivakumar spoke about how things such as family, aspirations, education, etc. shaped the Indian story. He also discussed the history of India from the time it got its Independence and how the growth story of the nation took shape after the 1991 liberalization.
- Vitality and Volatility: Shivakumar spoke about how despite having the largest pool of young demography, the country faces a bottleneck in terms of bad infrastructure, unpredictable and unforeseen circumstances and an unskilled population. Mr. Shivakumar says that a business can grow in India only if it learns to balance between the vitality and volatility.
- Working with Indians: Shivakumar broke the myth about the multi-tasking culture of India and spoke about how Indians takes pride in working hard but lag in terms of innovation.
Calling secularism and pluralism of the country as the biggest strengths of the country, Mr. Shivakumar said those who understand this will be able to establish a successful business in the country.
Thanking Mr. Shivakumar for the interactive session, the students of the Florida International University said they derived a lot of insights about how to do business in an emerging market like India. They gifted him a memento as a token of gratitude.