Telangana Distinguished Lecture Series, kick starts with globally acclaimed strategic thinker Prof. Jagdish N. Sheth

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Prof. Jagdish N. Sheth, Charles H. Kellstadt Distinguished Professor of Marketing, Goizueta Business School, Emory University, USA, delivering the first of the Telangana Distinguished Lecture Series, hosted by Telangana State Council of Higher Education (TSCHE) & ICFAI Group, on India in the New World order: Opportunities for Telangana, on Monday at Taj Krishna. Also seen are Dr. B. Janardhan Reddy, IAS, Secretary to Government – Education, Govt. of Telangana, & Dr. Rajiv Sharma, IAS (Retd.), Chief Advisor, Govt. of Telangana.

Hyderabad, July 29th 2019: The Telangana Distinguished Lecture Series (TDLS) is beinig organised by the Telangana State Council of Higher Education (TSCHE) Hyderabad. The lecture series was inaugurated on Monday, July’ 29, 2019 by Dr. Rajiv Sharma, Chief Advisor, Government of Telangana and would be attended by eminent educationists, policy makers, academicians and leading industry leaders. The first lecture was delivered by Prof. Jagdish N. Sheth, Charles H. Kellstadt Distinguished Professor of Marketing, Goizueta Business School, Emory University, USA and a globally acclaimed strategic thinker on the topic “India in the New World order: Opportunities for Telangana.” Prof. T. Papi Reddy, Chairman, TSCHE & Prof. V. Venkata Ramana, Vice-Chairman, TSCHE & Program Coordinator, were also present on the occasion.

Speaking on the occasion Prof. Jagdish N. Sheth said, isn’t it ironic that the official car of the British empire, Jaguar, the most pervasive, dominant empire in the world, which conquered the globe, that brand is owned by an Indian enterprise called TATA motors, this is the new world order, that’s the point I wanted to make. The best thing we can do is to give up the old ideas that we learnt and practiced and embrace something new. Telangana is destined to become one of the rising stars because of its key advantages, it’s a small state; its a can do state, it believes in its future, it believes when opportunity comes its willing to take, it’s going to do very well in my analysis on all three fronts of agriculture, manufacturing and services centric and the state will do very well for a bunch of reasons. In the old world order as on 1987, 75% of the world GDP was controlled by 15 countries of US, Canada, Western Europe and later entrant was Japan, 45% of world trade was within these nations and all of them are aging rapidly, hence they will come outside and invest.

Prof. Jagdish N. Sheth said, Why India is destined to become strategic globally. Both China and USA consider India to be strategic for their future. India has all the ingredients but does not have a recipe. The recipe is the vision with a mission. Vision is all about positioning for the future. Vision is aspirational, proactive and mission driven. India’s main ingredient is the big large consumer market, which are growing fantastically because all consumer economy was unbranded products distributed through unorganised sector, now all becoming branded products distributed through organised sector. GST is having a major transformation out of nowhere, technology is having a major transformation out of nowhere.

Regarding Telangana Prof. Jagdish N. Sheth, I have learnt from Singapore, smaller you are the more you have less constraints, you can do better. Telangana can leverage by becoming a hub for not just IT services but all professional services. This can be hub for accounting services, Health services, legal services. Attract global defence companies, this will become one of the global capitals. Leverage global diasporas as much as you can, especially the ATAs, NATAs. Send industry focussed delegations globally, general delegations don’t help. Become an entertainment capital, leverage Tollywood, which is very good, with massive infrastructure here. Upgrade bureaucracy, they are brilliant people leverage their talent for bigger things and retain them as paper pushers. Modernise agriculture and make it more productive and remunerative. Hyderabad can become the services capital of the world by positioning yourself correctly.

Earlier Dr. Rajiv Sharma said, we would hear some insights on the changing scenario countries across the globe from Prof. Jagdish N. Sheth, which we are facing in the shape of new world order, which is a dynamic term and the definition and context of which keeps changing from time to time. In the era immediately after the two world wars, the new world order emerged with institutions like the UN, IMF and World Bank being born, to usher in a new era known as new world era. Then came the cold war and the talk of the bipolar world and finally we witnesed the globalisation and institutionalisation of the world trade through institutions like WTO and so on saying globalisation is dead. So what new world order will emerge is any body’s guess. This is something with which we are constantly struggling as nation economies and India too has a big challenge and we need to find how to keep pace with these developments in international economic arena.

He further said that Telangana is the newest state of India and its proving to be a good example of how smaller states can do well in the overall context of Indian economy and polity. There has been a constant increase in the creation of new states and gradually there is a tendency to realise the local aspirations, the needs of local economy, the need to utilise the local resources for its own development and growth, which sometimes gets neglected in the very big state. So creation of Telangana is a matter of history now, but we have done well in the last 5 years which has been seen in many indicators like the growth rate of Telangana at the current prices is 14% which is well above the national average, despite it was not well endowed with the irrigation facilities and most of the economies in India have grown on the basic pedestal of agriculture, Telangana was deprived of that, we are still maintaining this growth rate thanks to the good economic environment this state provides for businesses Industry and service, sector. The per capita income has also risen by 13.3% at current prices which is also the highest in the country.

Prof. T. Papi Reddy said, TSCHE has taken up this initiative to organise a series of lecture to benefit the students, scholars and the Telangana society at large. Till 1990 Indian economic was inward looking with socialism asa guiding principal. But certain developments in the late 80s and early 90s, the India government of late PV Narasimha Rao, took bold decisions to open the economy

Prof. V. Venkata Ramana, while welcoming the guests said,  the series of lectures is an initiative to take Telangana to the next level through intellectual activism, by involving various stakeholders in the endeavour to make this state Bangaru Telangana. The lecture is being attended by eminent educationists, policy makers, academicians, leading industry leaders not only from Telangana but from all over India. Since then our economy has been gravitating towards world economy. After the advent of WTO the rules of trade and economic relations among the countries has changed drastically. One likes it or not, the international economic order is what we need to follow. We need to integrate with the world order and take advantages from within the system. Our focus today is on make in India, we need to lay foundation for a vibrant industrial base and Telangana since its formation has been striving hard to create a strong Industrial base in Telangana. Hyderabad is strongly emerging as a hub of education and industry and we should capitalise on the opportunities that arise and face the challenges and overcome them in accomplishing our mission.

Prof. Jagdish N. Sheth is known nationally and internationally for his scholarly contributions in consumer behavior, relationship marketing, competitive strategy, and geopolitical analysis. Professor Sheth has over 50 years of combined experience in teaching and research at the University of Southern California, the University of Illinois, Columbia University, MIT, and Emory University.

The lecture series is supported by ICFAI University, Hyderabad. Prior to the lecture there was a Deans & Directors Conclave of leading Business Schools to deliberate about emerging and future of Management Education. Prof. Sheth delivered a talk on “Repositioning of India’s Higher Education.”