What do – Axis Bank, BrandComm, CityonNet, Coca Cola, Fairwood, Fiat, First Data, Future Brands, Hindustan Food & Beverages Ltd., GreeneStep Technologies Pvt. Ltd., IDBI Federal Life Insurance, Impact Assessment Management Services, Innocean, L&T;, Magic 9 Media &Consumer; Knowledge Pvt. Ltd., Maxel, Minority Brand Creation & Management LLP, Pramati Technologies, Shree Shankara Hospital, SPI, Triature, Compengence, Opulence Business Solution Pvt. Ltd, Rediff and Unisys – have in common?
They gave summer internships to all 47 students of the first batch of the PGDM program at MYRA School of Business, Mysore. So what? We see it as a solid vote of confidence from industry for MYRA. This is also about the business landscape that is emerging and what it means to Management Careers in India.
We believe that increasing investments in India by foreign companies will increase the demand for trained managers. Here’s why.
Populations in developed countries like the USA, the UK, Canada, Germany, Italy, Japan, Korea and Spain are ageing. The US alone will have a quarter of its population in the retirement age bracket by 2025. Over the next twenty years, companies in the developed world will find themselves forced to look for newer markets. Think about what this means for you as a youngster interested in a business career.
India offers these companies ample opportunities. Her population is among the youngest in the world. BTW, you represent India’s youth dominated population. Future Indian governments cannot afford to let foreign companies or their distributors to simply import and sell their products and services. Future Indian Governments will insist that foreign companies set up and run manufacturing plants in India as a means of generating employment opportunities for her bulging working age population.
The writing on the wall is amply clear – more and more in the foreseeable future foreign companies will likely set up operations in India both in partnerships with Indian companies and on their own. Asian companies, especially Japanese companies, are eyeing India as an alternative to China. Japan is heavily invested in the Delhi-Mumbai industrial corridor. The demand for trained managers by foreign companies in India thus shows signs of increasing significantly in the next ten years.
Ok, what about Indian companies? Will they too experience an expanded need for trained managers in the next ten years? You bet. You do not have to be a Nobel laureate to know that the demand in almost every product category will only increase in the next ten years. Take the wedding industry in India for instance. Hindu Newspaper estimates that the wedding industry is worth $40 billion a year (http://www.thehindubusinessline.com/industry-and-economy/the-changing-face-of-the-wedding-business/article5541899.ece). The wedding industry is expected to clock a 30 per cent growth rate. Now think about the demand for managers that follows from such growth.
Take another less known product category – used cars. Guess who’s playing in this market. Heard of Maruti True Value, Mahindra First Choice and Carnation? Maruti True Value is a Maruti Suzuki company, while Mahindra First Choice belongs to the Mahindra conglomerate. Carnation Auto was started by the former head of Maruti Suzuki. These companies together control 15 percent of India’s used car market, which has just begun to transition from unorganized to an organized market. Adity Kalra, (http://blogs.reuters.com/india/2014/01/31/organised-players-growing-acceptance-boost-indias-used-car-market/), quotes CRISIL research as forecasting that the used car market would be a Rs.1.5 trillion industry by 2017, clocking a 16 per cent growth.
When you have a large youthful population like India does, sooner or later, economic growth is bound to get on a fast track. People need roti, kapda aur makan at a minimum. When there are more people, the demand for rotis kapada aur makan goes up. So does the demand for security, education, clothing, housing, sanitation, drinking water, health care, banking, roads, transportation, energy, entertainment, communications and the stuff we associate with everyday life. It is this demand which generates a need for trained managers.
At the MYRA School of Business, we are committed to supplying industry with young managers equipped to work with people from diverse backgrounds to deliver results consistently. Our PGDM and PGPX programs enable students to think creatively, communicate clearly and act decisively. Our job is creating managers any company would want to employ. Our handpicked faculty and our focus on excellence combine to produce the MYRA experience for our students – one that transforms them to be sought after professionals. We are a down to earth school committed to providing value for money. Check us out. Visit http://www.myra.ac.in.
Dr. Nagananda Kumar
Executive Director of MYRA School of Business
Note: This is a sponsored article and has NOT been written by the PaGaLGuY Editorial Team. It is intended from an informational perspective only and it is up to the readers to research and verify the claims and judgements in the article before reaching a conclusion.