Professor Arindam Chaudhuri :- IPL IS AT BEST A GREAT ADDITION TO THE DULEEP TROPHY! [DULEEP TROPHY WHAT?!?]

Professor Arindam Chaudhuri (Dean of IIPM)

So the time has come for the IPL to take off। As but expected, the ticket sales are pathetic। Or did you expect anything else? Well, when, for example, was the last time you went to watch an India-South Africa cricket match in a stadium? Looking blank?! There you go!! When was the last time you actually watched a Duleep Trophy match? Did you just exclaim, “Duleep Trophy what?!!?” All I can say is that if you haven’t been watching Duleep Trophy matches, then there is less likelihood of you watching any of the IPL matches। That’s exactly how much I think about IPL’s chances of success। [For the uninitiated, Duleep Trophy was started by the BCCI in 1961-62। In the 1962-63 season, four of the five teams (all except Central Zone) had their bowling attacks strengthened by a West Indies test player। Five Indian zonal teams regularly take part in the Duleep Trophy – North Zone, South Zone, East Zone, West Zone and Central Zone. And actually from 2003-04 onwards, the five original zonal teams competed along with a sixth guest team, which was a touring foreign team. The first guest team in 2003-4 was England A.

Of course, I don’t want to demean the goodness in Shah Rukh Khan’s or Preity Zinta’s heart to promote the cause of cricket at a domestic level. They’ve really been so excited about it; in fact, more excited than those who have really put in their monies too! BCCI also pulled off a great coup in the seemingly managed bidding evaluation where Mukesh Ambani, SRK, Vijay Mallya and Preity Zinta, all got a team! That the selection was not stage-managed is something very tough to imagine; that too in a country like India! How much money they’ve realised till now out of the hundreds of crores at which they apparently sold the rights, will only be clear when one gets to see their balance sheet. One thing, however, is sure! If they have any money pending on the day the tournament begins, they can kiss it goodbye.

Some of you (who probably are great Duleep Trophy fans) might be wondering why I think so ‘highly’ of IPL’s chances! Well, for that, we need to analyse the origins of club culture in Europe and America. In these continents of more than 200 years of development and many more years of wealth creation, the cultures have been rank different. There used to be armies warring with each other over different cities; and once these got combined into countries or states, they kept their rivalries alive through sports clubs – club football and club rugby tournaments etc. The club culture is a part of their blood stream. Their often reserved seats are their prized possessions during the tournament seasons. The people sitting next to them are their best friends, and they are passionate like hell about their clubs. It’s a cultural thing in these countries, where the last time they actually thought of how to make their two ends meet was eons back. They progressed culturally enough to attach great importance to sports, thanks to the leisure time in their hand. And it’s not just clubs; at school level, the kind of sports that kids participate in is exemplary. It’s their way of living. But that’s not the only reason why I think IPL will fail in India.

IPL will fail in India primarily because of the fact that in Europe, for example, when it comes to football, people identify with their clubs perhaps more than they identify with their country. The reason is that their countries play each other very rarely, and throughout the year, it’s club football all the way. It’s just once in four years that they have the World Cup. Of course, then they support their country; but the moment their country is out, they start supporting those nations which have their favourite club player!

In the case of cricket, it’s quite different. We are playing against other countries all the time. And it’s not once in four years, not once in a year, not once in two months, but once every week almost! And we are day in and day out passionately supporting India against Pakistan (and praying for Inzamam to get out) or against Australia (and praying for Ponting to get out)! And BCCI surely is not planning to reduce international cricket to a once in a year or two affair. In fact, the next ten years’ itinerary is already jam packed and finalised!

So, with so much international cricket happening in any case, suddenly it’s psychologically impossible for any of us to come out supporting a team that has a Pakistani player, simply because the team is supported by SRK for instance. There is already an overdose of international cricket; and critically, we watch cricket not because as a nation we are passionate about sports or anything like that (Our passion for sports is clearly visible through the medals tally every Olympics - we get the last rank by miles every Olympics without fail in terms of the number of medals per capita). We watch cricket as that is the only game through which we, at times, get to feel proud as Indians. We watch cricket not because of Tendulkar, but because Tendulkar plays for India. With so much existing overdose of cricket and no reason to get passionate (even a Ranji Trophy match would give more reasons to get passionate as it could be our state playing), IPL is almost doomed from day one. It’s not just that they will get hardly any paid audience, but they won’t even get TV eyeballs. Because if you haven’t been interested in the Duleep Trophy, there is little chance you will be interested in IPL. Even if SRK is present in every match at the risk of decreasing his mass appeal!!!

On the occasion of our Platinum Special, a note from the Editor-in-Chief
What a great feeling!!! When we started off, our detractors had actually questioned us on who in the business world will read a magazine that focuses so much on economy, policy and politics. Well, being from the strong academic world of IIPM, we always maintained that the backbone of business is economics! And that’s how Business & Economy came into being. Because at the top, the most influential people in businesses, for whom our magazine is meant, have always loved reading The Economist, for example. Yet, we knew they longed for a little bit more of intellect-driven Indianised analysis and perspective of things. That’s what we delivered; and we can proudly now say on the basis of even the highly questionable readership survey figures that we are indeed the fastest growing business magazine in the country! We believed that our readers are intelligent and wanted us; and today, I can only thank our readers for their overwhelming support for this cause, this passion of ours called Business & Economy. Of course, special thanks to the great institution called IIPM that gave us all the education and understanding to bring out such intellectual matter issue after issue, and for giving us brilliant boys and girls (like Virat Bahri, Vareen Gadhoke, Steven Warner and many more) who are the backbone of this magazine. Extra special thanks to Prof A. Sandeep who tirelessly goes through every word of Business & Economy, as well as writes many of the critical stories from time to time. Lastly, most special thanks to Sutanu Guru for being the soul of this venture with his brilliant mind! Cheers!!!

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Judicial reforms!?! A brazen rhetoric, juvenile optimism or a utopian dream?

Professor Arindam Chaudhuri (Dean of IIPM)

There are certain facts which are sacrosanct, but when numbers substantiate it, they only go on to glorify the magnanimity or pettiness of the same. The fact that the Indian judiciary, particularly the lower ones, have been corrupt is no news; but when Transparency International recently substantiated it with numbers, it only magnified the quantum of systemic rot that exists!

For those who did not get a chance to peruse through the ‘enlightening’ report, it states that the perception of people about nations where judiciary is corrupt is heavily tilted against India and Pakistan as compared to Hong Kong, Malaysia, Singapore and Thailand. According to the survey conducted on public perceptions by Centre for Media Studies in the year 2005, a staggering 77% of respondents believed that the Indian judiciary is corrupt. The report also points out that an astounding Rs.26.3 billion exchange hands, annually in the form of bribes. What more, the report goes on to state that this booty is shared between the lawyers, court officials, judges and middlemen with 61%, 29%, 5% and 5% as their respective shares. The enormity of the amount of money that annually exchanges hands in the form of bribes goes on to reflect the painfully sluggish justice delivery infrastructure in India. With a commendable ‘judges to people’ ratio (which currently stands at 1.3 judges per 100,000 people, as per the report), it is no wonder that the number of cases pending (as on February 2006) in Supreme Court (which has 26 judges) was 33,635; in High Courts (with 670 judges) it was a pitiable 33,41,040; and in subordinate courts (with 13,204 judges), a mind-numbing 2,53,06,458!

But then again, other than putting numbers, there is nothing new that the Transparency International’s report states that is news to us or to our government. We all knew this for long, and since decades, there had been debates, discussions and tonnes of literature written on how to set right our justice delivery. Even after all this, what has been amazing is the attitude of our consecutive governments towards the same. The intentions (or thorough lack of the same) of our political leadership to mitigate the problem are quite apparent from the amount of funds that the government had been annually allocating for the entire judiciary. Even after knowing the fact that the only solution to arrest the problem (as I had mentioned in our book The Great Indian Dream & repeatedly in our publications) is to hire more judges, create hundreds of fast track courts and clear the backlogs on a war footing; the budget allocated every year, year after year, is a chicken feed, when compared to what is actually needed to expedite the same.

It could be said without any iota of doubt that such a nonchalant attitude of our governments towards the judiciary vindicates the fact that there has been a calculative mandate behind this malaise। It has been universally observed that a corrupt judiciary seamlessly incubates a corrupt democracy, and vice versa। And for a flawless functioning of a corrupt democracy, it is imperative to maintain a status quo through an inefficient and ineffective judicial functioning – as it is only then that criminals can fearlessly and continuously make it to our Parliaments, by employing all forms of undemocratic means, creating an environment where criminalisation becomes a way of life and corruption, its inevitable flourishing medium. All in all, citizens at large have lost so much of trust in the judiciary that when a political leader talks about taking proactive remedial actions (read – judicial reforms), to them, it sounds like a well-rehearsed brazen rhetoric. And when the same comes from an active reformist, it sounds like juvenile optimism, or at best a utopian dream!

Editor in Chief : - Professor Arindam Chaudhuri (Renowned Management Guru and Economist)

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Having failed to provision social basics to millions, asking the industry to cut down on salaries is hilarious!

Professor Arindam Chaudhuri (Dean of IIPM)

Our honourable Prime Minister, Dr. Manmohan Singh’s recent speech at the Confederation of Indian Industry to our industry captains has drawn a lot of flak from all quarters of industry and media. In his entire 10 point social charter that he proposed to the industry, the biggest bone of contention had been his prescription to the industry to resist paying large salaries (!), articulating the fact that it is this that is leading to inequities between the ‘haves’ and the ‘have-nots’, and the same could lead to social unrest (!!).

Though on the face of it, this seemingly sounds absolutely logical, the same coming from our honourable PM sounds like a classic dichotomy! Perhaps he has conveniently wished away the fact that it was he who had been the architect for the economic reforms of ‘91, and who had also been responsible for driving India towards a market economy. He was the one advocating growth and its trickle-down effects, whereby the entire economy would benefit. Now that over the last decade and a half, India has made some economic strides, stabilized the growth rates at over 8%, which has resulted in the creation of millions of jobs for the educated-unemployed, solidified foreign exchange reserves, and so on, then why such an abrupt U-turn? Wasn’t our honourable PM the one who wanted the spirit of enterprise to thrive in a free market environment? Didn’t he know then that an entrepreneur in a free market would squeeze the maximum possible remuneration for the risk and the initiative that he/she would take? This is bare textbook economics; and for a person like him, who has been a stalwart in the subject, it is hard to believe that he didn’t know the manifestations of reforms, seeds of which he had himself sown almost a decade and a half back.

In fact, nowhere in the entire world is the industry ever responsible to bring about social equity. It is the government’s responsibility and no government can shirk away from it. It is amazing how, in the pre-reforms period, successive governments grafted policies under the garb of national planning to recklessly program the economy for personal gains. Though, during that period, the inequity was never so stark, the economic growth was made so abysmal that the entire economy stagnated. Today, when the industry is trying to break those shackles and surge ahead, it is unfortunate to ask them to find the remedy to all such historic governmental misadventures. It is true that other than creating mass scale employment, the industry also has larger responsibilities towards the society. But if it is asked to take the entire responsibilities hands on, then why do we need any government at all?

There cannot be any debate on the fact that consecutive governments, including the current one, have miserably failed in strengthening India’s creaking social infrastructure. Having failed to provision basics like education, health and employment to millions, asking the industry today to cut down on the salaries it pays to its professionals – and that too under the ostensible reason of bringing about social equity – is remarkably hilarious! All in all, the entire speech at CII never sounded like it was delivered from an Indian Prime Minister who had been the father of our economic reforms process. Rather, the entire speech sounded ‘confusing’; and more than that, ‘compromising’! It is common sense that growing salaries have driven consumption, which has further boosted our national productivity and has also been filling government coffers in the form of taxes like never before. If the government has failed to effectively mobilize these resources, then they should be forthcoming in accepting it and taking corrective action. It is no secret that the delivery mechanisms are in complete rot and the regulators are stifled with structural rigidities. In the given scenario, the prescription is simple – rather than stifling the industry, take corrective action to educate millions and empower them with opportunities so that they too can earn their own millions!

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

They’re talking about privatising prisons... I say, privatise the courts and even the judges!

Professor Arindam Chaudhuri (Dean of IIPM)

Recently, the Delhi High Court ordered the Tihar Jail authorities to release 600 odd inmates (who had been detained on account of preventive detention) terming it the ‘first small step’ towards easing the overcrowding of jails. No doubt, it is a commendable step, as this way, at least these 600 plus detainees are saved from becoming hardened criminals! But what I am still wondering is what happens to those thousands of undertrial prisoners who are still languishing in jails without any verdict!?!

It is a known secret that overcrowding of our jails has been less on account of increasing criminalization of the society and more due to our slow justice delivery mechanism. A few years back, a National Crime Research Bureau study on almost 220,000 cases showed that a case takes on an average a staggering three years to reach even the first hearing in courts, which automatically means that those many people languish in jails without even being heard once! And for those who manage to get a hearing (around 26,500 ‘lucky’ few of them), it takes almost a killing decade for the case to come to a conclusion! As a result of this ‘supreme’ efficiency, an unprecedented pressure has been created on jail infrastructure (for information, of 3,60,000 jailed prisoners, a numbing 2,50,000 are under-trials).

It is incredible that on an average, jails in the country are housing 140% more than their capacity. Delhi, with 250% overcapacity (Tihar alone has 13,712 prisoners against a capacity of 6,250) and Jharkhand with 300%, lead the pack. What is even more appalling is that of all the undertrials, almost 14,000 are women, and of them, around 12.5% are pregnant! Obviously, in the given environment, one cannot expect an undertrial to remain sane for long. Ironically, our jails have become less of correction centers and more of breeding grounds for hardened criminals. Imagine the emotional state of the likes of Machan Lalung and Khulilur Rehman who spent 54 and 35 years of their lives in jail as undertrials for crimes where the maximum sentence, if convicted, would have been between 5 to 10 years!

As if the current mental exploitation of the undertrials were not enough, rather than acknowledging the real problem, now our bureaucrats and politicians have suddenly felt the need to follow the US model of privatising prisons to allow even the physical exploitation of prisoners. In the US, it is a known fact that prisoners for long have been exploited by the private enterprise as a cheap source of labour (interestingly, companies like Microsoft , McDonald’s and Starbucks have been outsourcing some job or the other from time to time to cut costs). Even before you reach the debate of whether this practice is ethical or not, you’ll have to understand the fact that in America, their ‘prisoners’ are ‘convicts’ and not ‘undertrials’. Rather than blindly replicating the American model, we need to actually learn from their efficient justice delivery system. Why can’t our bureaucrats immediately partly privatise the justice delivery mechanism, that is, hire part-time judges (say, temporarily promote extremely qualified lawyers) and set up special benches and start reducing the pending cases at a fast pace? Won’t that allow innocents to lead a rightfully dignified life? Well, I’m not waiting for an answer. It might well take ten years for them to reach a decision...

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Having failed to provision social basics to millions, asking the industry to cut down on salaries is hilarious!

Our honourable Prime Minister, Dr. Manmohan Singh’s recent speech at the Confederation of Indian Industry to our industry captains has drawn a lot of flak from all quarters of industry and media. In his entire 10 point social charter that he proposed to the industry, the biggest bone of contention had been his prescription to the industry to resist paying large salaries (!), articulating the fact that it is this that is leading to inequities between the ‘haves’ and the ‘have-nots’, and the same could lead to social unrest (!!).

Though on the face of it, this seemingly sounds absolutely logical, the same coming from our honourable PM sounds like a classic dichotomy! Perhaps he has conveniently wished away the fact that it was he who had been the architect for the economic reforms of ‘91, and who had also been responsible for driving India towards a market economy. He was the one advocating growth and its trickle-down effects, whereby the entire economy would benefit. Now that over the last decade and a half, India has made some economic strides, stabilized the growth rates at over 8%, which has resulted in the creation of millions of jobs for the educated-unemployed, solidified foreign exchange reserves, and so on, then why such an abrupt U-turn? Wasn’t our honourable PM the one who wanted the spirit of enterprise to thrive in a free market environment? Didn’t he know then that an entrepreneur in a free market would squeeze the maximum possible remuneration for the risk and the initiative that he/she would take? This is bare textbook economics; and for a person like him, who has been a stalwart in the subject, it is hard to believe that he didn’t know the manifestations of reforms, seeds of which he had himself sown almost a decade and a half back.

In fact, nowhere in the entire world is the industry ever responsible to bring about social equity. It is the government’s responsibility and no government can shirk away from it. It is amazing how, in the pre-reforms period, successive governments graft ed policies under the garb of national planning to recklessly program the economy for personal gains. Though, during that period, the inequity was never so stark, the economic growth was made so abysmal that the entire economy stagnated. Today, when the industry is trying to break those shackles and surge ahead, it is unfortunate to ask them to find the remedy to all such historic governmental misadventures. It is true that other than creating mass scale employment, the industry also has larger responsibilities towards the society. But if it is asked to take the entire responsibilities hands on, then why do we need any government at all?

There cannot be any debate on the fact that consecutive governments, including the current one, have miserably failed in strengthening India’s creaking social infrastructure. Having failed to provision basics like education, health and employment to millions, asking the industry today to cut down on the salaries it pays to its professionals – and that too under the ostensible reason of bringing about social equity – is remarkably hilarious! All in all, the entire speech at CII never sounded like it was delivered from an Indian Prime Minister who had been the father of our economic reforms process. Rather, the entire speech sounded ‘confusing’; and more than that, ‘compromising’! It is common sense that growing salaries have driven consumption, which has further boosted our national productivity and has also been filling government coffers in the form of taxes like never before. If the government has failed to effectively mobilize these resources, then they should be forthcoming in accepting it and taking corrective action. It is no secret that the delivery mechanisms are in complete rot and the regulators are stifled with structural rigidities. In the given scenario, the prescription is simple – rather than stifling the industry, take corrective action to educate millions and empower them with opportunities so that they too can earn their own millions!

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

For a world class nation, we need to breed world-class talent rather than give mundane third-class job security

Dean of IIPM

Nothing could be more ironical than the fact that at a time when India is experiencing an unprecedented growth rate coupled with creation of millions of white collar jobs, at a time when India is poised to be the back office of the world, the government and its institutions are facing an acute shortage of qualified manpower to take the country ahead. Consider this: in the recent past, India’s foreign secretary deposed in front of a parliamentary committee that for every Indian diplomat, Brazil has four and China has seven diplomats. Incidentally, all three – that is, Brazil, India & China – are part of the famous BRIC economies of Goldman Sachs. So while China is going full throttle to realise its ambition of overtaking the US economy in the next few decades and has readied its arsenal of top notch technocrats to help tilt crucial global business deals in its favour, India has oft en lost in the game for the want of farsighted and dedicated new age professionals.

In the same league, the Indian Army is facing an acute shortage of commissioned officers to the tune of 12,000. This, at a time when the concept of warfare is going through a structural shift and becoming more of a mind and machine game. As such, the need for dynamic leaders in the form of young commissioned officers becomes all the more important. Leaders, who are not just committed, but also astute enough to lead the million plus army to victory. But this shortage in the army is not because of lack of commitment on the part of Indian youth towards the armed forces, but on account of sheer lack of recognition and remuneration. A junior executive in the private sector probably starts at a higher package than the pittance that a Lieutenant earns. And middle level soft ware professionals earn more than Colonels do. No wonder that the youth prefer the private sector today. Yet, the plight is not just restricted to army only. The same is the situation of the Indian Air Force, which, in the recent past, has witnessed tremendous attrition of pilots who preferred hopping to the private sector aviation players for want of six digit salaries. Similarly, organisations like DRDO (Defence Research & Development Organisation) today have a greater number of non-technical and non-scientific manpower than otherwise... So much so that crucial organisations like Indian Institute of Advanced Studies, Indian Institute of Management (Kolkata), National School of Drama and even Council of Scientific and Industrial Research are all headless today. And the reason? Of course, abysmal salaries (having no correlation with efficiency and productivity of an individual), coupled with relentless interference from the concerned ministries, politicking and the fear of being haunted and persecuted by the CAG and CBI.

Though a lot of noise is being made for the severe talent crunch that India is going to face in the foreseeable future, there seems to be a conspiracy of silence with regards to the same crisis at the top. This is even more alarming since all the aforesaid institutions are of strategic importance to India. Until and unless our government works on a war-footing to get rid of its age old bureaucratic baggage and creates a challenging environment that is sans any form of politics, things would only worsen. If we actually dream of building a world-class nation, we must create world-class institutions; institutions that are bred upon world-class talent in a world-class environment and not upon some mundane, third-class job security!

Editor - Professor Arindam Chaudhuri (Renowned Management Guru and Economist)

COUNT YOUR CHICKENS BEFORE THEY HATCH

Prof. Arindam Chaudghuri’s (Dean of IIPM) best-selling self-help book outlines a series of techniques and tools for those in and aspiring to positions of leadership. It includes original research which has led to the formulation of the India-centric Theory i management, which has won global recognition.

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Ugh... Even the best case for reservations fails in front of government’s irrationalities!

The last time I wrote on the reservations issue, I wrote completely against what the government was proposing, because I genuinely believe that this is completely and shamelessly politically driven and surely not the way... for the ONLY way out is really giving the less privileged (on the basis of income levels and MOST CERTAINLY NOT CASTE OR RELIGION) great primary and secondary education, and bringing them up to a level playing ground, so that they can go ahead and fight it out in the world on their own merit (unless of course the government becomes responsible enough to give everyone all their basic needs – in this case great higher education – without them having to struggle for it, which ideally the government should in any case). This time, however, I want to write for reservations, and yet again prove how shamefully, miserably and unarguably wrong the government is.

Well, it is a fact that the less privileged in a society do need reservations or special privileges to do away with previous injustices. That is what a good society is all about, taking extra care of the weakest so that they can survive to be fit and competitive. In the case of India, through a shameful past of caste based divisions, the fact also is that the upper caste people exploited people of lower castes ruthlessly, and kept them completely marginalised. So the moment we became a sovereign and secular democracy, our first job was to do away with the shameful concept of castes and make up for our past mistakes. At that time, a reference to SC/ST/backward castes etcetera was perhaps still justified. Successive governments, for more than 50 years, did promise to do away with past injustices by giving primary education access to the citizens, as well as providing reservations. But like all hypocritical promises of our governments, and with all insincerity, they obviously never kept them, and implemented every policy with shameful lack of commitment. As a result, we had the creamy layer amongst the SC/ST et al taking away benefits of all the reservations, still keeping in misery the poor and the real needy.


Hilariously, the ‘creamy layer’, in a country like India – where we have the poverty line (ill)defined as all those who earn less than Rs.375 per month (so that the least amount of people fall below that) – is attempted to be now defined as all those families earning more than Rs.1 million every year! No wonder, our politicians feign ignorance about the creamy layer getting benefited; for, what the government calls creamy, are actually the rich in India! And just as a more humane definition of poverty line will give a much clearer and painful picture of the poor in India, similarly, a better definition of creamy layer – like those families earning more than Rs.100,000 per year – would show how the non deserving in the past cornered the benefits of reservations (estimates say that roughly 95% of the benefits went to the creamy layers amongst SC/ST and rest of the seats remained empty – a similar fear that the current proposal raises).

It’s also not true that OBCs in India are more than 50%, and only the poor OBCs are about 27%. Latest researches point out that OBCs in India are only around 30%. The rest are not discriminated by the society anymore, and therefore should cease to be called OBCs. So, while reservations for the really discriminated MBCs (most backward castes) amongst the OBCs/SC/ST can still be justified due to the huge exploitation they face, the truth is that today the exploiters who exploit and criminally ill treat the MBCs in rural India are primarily from the so called current breed of OBCs (since the Brahmins and Kaisthas mostly aren’t living there anymore), with a majority of them falling in the creamy layer category – and they, certainly, deserve no reservations. They have access to education and they better work hard and get their due on merit. Yes, the poor amongst them and MBCs certainly need the support system to come up in society. So, as I suggested in my last editorial on reservations (Business & Economy issue dated April 21-May 4, 2006), they should not only be given free education, but also free hostel facilities and in-room tutorials to enable them to come up in society. If we do it from today, then twelve years from today we would have empowered them to automatically reserve 27% seats and more for themselves on their own merit!

Editor - Prof. Arindam Chaudhuri (Dean of IIPM)