Igntu ppt

IGNTU 20/08/2012

Developing Human Resource for Knowledge Economy with Global Perspective

Dr.Chandrashekhar Aronkar

IGNTU 20/08/2012

Economic & Demographic Transitions in India

• Indian Economy is going through the phase of Economic Transition in the form of knowledge economy.

• Demographic transition in India, leads country to the position of Demographic Dividend.

• While going through the phase of this development process, Indian companies face the challenge of developing Human Resource.

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Economic Transition in India • The World economy has traveled the

process of economic development with the destinations of Agricultural, Industrial and now Knowledge based economies. India also traveled the same path.

• After joining the World economy with implementation of Globalization, liberalization and privatization, now country has reached to the phase of knowledge economy after successfully traversing the other two phases.

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Knowledge Economy

• Presently the World is experiencing the process of knowledge based development. The concept of knowledge economy highlights the contribution of Knowledge in the process of Economic development.

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Knowledge Economy (Definition)

• As per the World Bank the knowledge economy is the economy- that creates, disseminates and uses knowledge to enhance its growth and development. The concept of knowledge economy covers how any economy harness and uses new and existing knowledge to improve the productivity of agriculture, industry and services and increase overall welfare

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Demographic Transition in India

• Though as per theory of demographic transition we are at intermediate stage of high birth and low death rate, but the change in the composition of age structure of our population and emerging new economy are taking India to a new horizon of opportunities.

Demographic Transition

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Demographic Dividend• Availability of largest number of young

population (working population) in the age structure of the country takes us to the position of “Demographic Dividend” ( % of Population of 15-59 age group in the total population of India was 58.7% in 2001 and is projected to be 63.33% in 2016 based on the report of National Commission on Population).

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Economic Transition and Changing Role of Resources

Economic Transition and Changing Role of Resources

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Agricultural Industry Knowledge

Economic Transition

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Human

Capital

Natural

•Note: It is purely hypothetical and shows changing resource combinations.

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Need to Develop Human Resource with Global Perspective

• Indian Companies to compete in the world economy need to Develop their Human Resources with Global perspective to be suitable for Knowledge based development.

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What can Indian Companies do to develop Human Resource?• Knowledge economy expresses the use

of knowledge, innovations, better skills, efficiency, information and effective human relation in achieving product and services with less cost and high quality.

• Indian Companies can develop their Human Resource matching to Knowledge economy.

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Creating R&D Environment• Amongst the pharmaceutical companies in

India, Ranbaxy has the largest R&D budget with an R&D spend of over US $ 100Mn

• Ranbaxy views its R&D capabilities as a vital component of its business strategy that will provide the company with a sustainable, long-term competitive advantage. The company today has a pool of 1,200 scientists who are engaged in path-breaking research.

• The robust R&D environment within the company for both drug discovery & development and for generics is designed to bring into sharper focus, the unique needs of both equally. Ranbaxy's endeavour is to be a leader in the generics space.

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Encouragement to Creativity & Innovation

The Tata Group invests in building outstanding research facilities and forging partnerships with academic and research organisations in order to encourage creative thinking and find innovative solutions that improve our quality of life.•Tata believes: Companies that are market leaders and global successes share some sterling attributes: they think, aspire, question, experiment and, most importantly, they innovate. It was this understanding that prompted us to look at innovation as a strategic approach to global growth.

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Developing Strong ICT Infrastructure

• CII along with Accenture, completed a study titled " Making the Connection: India's digital future". Both CII and Accenture believe that building a strong understanding of the role of ICT will improve India's prospects for greater and more equitable growth. The research indicates that 94 % of businesses believe the usage of ICT has been a major reason for India's recent economic growth.

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Industry-Institute partnership for technology development

Bharti Airtel Limited, India’s leading

telecommunications services provider, and Indian Institute of Technology (IIT) Delhi announced that they will establish the Bharti-IIT Delhi Telecom Centre of Excellence. The Bharti-IIT Delhi Telecom Center of Excellence will be established at the Bharti School of Telecommunication Technology and Management, IIT Delhi.

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Agreements for technology support with top MNCs

Biocon Limited and IATRICa, Inc. announced a strategic partnership to co-develop an exclusive new class of immunoconjugates for targeted immunotherapy of cancers and infectious diseases. The companies will co-develop candidate products based upon IATRICa’s technology platform and Biocon’s proven expertise in drug development, biologics manufacturing, and clinical research.

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Importance of Technical Training• Biocon Limited signed MoU with Deakin

University, Australia. Biocon supplements R&D efforts by working with academic institutions and biotechnology companies across the world. With Deakins capability in research, the collaborators will attempt to harness this expertise in providing solutions in the area of mammalian cell bio-processing and metabolic diseases. This partnership will provide valuable access to a world of medical knowledge and scientific training, together with opportunities for exchange of scientists to facilitate projects in areas of mutual interest,

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Importance of Soft Skills training

• A recent NASSCOM-McKinsey study says that the Indian software industry has an average growth rate of 35 percent per year. This has created the need for professionals who are not only technically sound but also have the necessary soft skills to be effective managers.

• An independent study conducted on CEOs, by Stanford Research Institute and Carnegie Mellon in the US, found that long-term job success depends 75 percent on people skills and only 25 percent on technical knowledge.

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Importance of Team Concept

• AT&T, Federal Express, Johnson & Johnson, and Minnesota based 3M are some of the companies that allow their employees to manage their day to day work through self directed work teams. Such teams are usually considered to be a "managerless" group of workers who perform many management functions. They are also empowered to take corrective measures to resolve day-to-day problems. They also have direct access to information that allows them to plan, control and improve their operations.

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Conclusion The World economy is going through the

process of knowledge based development. India is having golden opportune ,as it has best brains and large number of young population. These youngsters are asset to the nation and they along with corporate sector can become a vehicle for making India an economic super power. The need of the day is to develop this precious resource with global perspective to be successful in knowledge economy.

IGNTU 20/08/2012

Thank you