IMA Insights

There are three essential considerations on whose premise the country’s economic policy would be ascertained. 
First, above everything, is the issue of macroeconomic stability. This specifies a clear mandate to the Reserve Bank of India (RBI) to ensure that inflation remains within a band of 2-6%. Second, the importance of accumulating foreign exchange reserves. Third, the government will focus on supply-side issues, rather than demand and therefore, seek investment driven growth. This podcast explains.

Every building occasionally needs a new coat of paint. Similarly, a brand – which is really a business’s public face – sometimes needs to be refurbished to maintain or enhance its appeal. In essence, rebranding involves reimagining the company’s marketing strategy, such as by changing its name, design aesthetic, product portfolio or logo. This sounds deceptively easy; the reality is quite different. Before embarking on a rebranding mission, business leaders must be cognizant of the risks involved. This podcast explores the right (and wrong) reasons to rebrand

Study after study of merged businesses reveals a dismal record of failure in achieving the projected benefits. A primary reason is the failure of the acquiring company to implement integration processes that can manage the clash of two competing cultures.
At a recent India CFO Forum session in Chennai, Sugata Sircar, Executive Director Finance & Group CFO, Azure Power decoded the elements of an effective post-acquisition integration process, some of the best practices to apply and pitfalls to avoid, using the real-life example of Schneider Electric’s acquisition of L&T’s E&A division. This podcast offers a brief summary of the session along with a fuller commentary on the subject

Libor will cease to exist with effect from June 30, 2023. The benchmarks replacing it are better structured. As a start there is one for each of Libor’s five currencies – the secured overnight financing rate Sofra for the dollar, Sonia for the pound, Tonar for the yen, Saron for the Swiss franc and the euro short-term rate (€str) for the euro. The way this works is that they measure borrowing costs on actual transactions, rather than trusting bankers to respond honestly to a daily questionnaire, as was the basis of determining the Libor rate. The US dollar Sofra, report rates in the repo market (for loans secured against government bonds) rather than for bank deposits. CFOs, specifically those with large treasuries, are struggling through this transition on negotiations with lenders and money managers. It will be a few months before things begin to settle. 

This podcast provides a history of Libor and the events that have led to its demise. 

IMA India recently organised its first quarterly CHRO Dialogue in Bangalore for FY24. The discussion was spanned across two major themes namely, changing geopolitical order and its implications on India and leadership lessons from the armed forces. The attached paper offers a brief summary of the session along with a fuller commentary on the subject.
Session 1: The world is well on its way towards a new geopolitical, geo-economic and geo-technological order which will have huge implications for India. To consider these issues, Adit Jain, IMA’s Chairman and Editorial Director, shared insights on what businesses should look out for to keep pace with an evolving India. 
Session 2: Having the strength of character to become a better version of yourself and create value for others are two key attributes of leadership. The armed forces have many lessons to offer because virtually every situation an organisation faces has been previously encountered and resolved in the Army. Lt General Chauhan offered valuable leadership lessons from his experience that can be applied across domains. 

Change is the only constant in a world marked by shifting alliances and evolving material conditions. The India of today is likely to be completely unrecognisable by 2030. What developments should business leaders keep in mind when formulating an organisational strategy looking ahead? 
To consider this issues, Adit Jain, IMA’s Chairman and Editorial Director, recently led a joint session of the India CEO, CFO and CHRO Forums in Pune. This podcast offers a brief summary of the session along with a fuller commentary on the subject. 

India is becoming a victim of leftist propaganda from organisations that disagree with its political paradigm. They attempt to undermine its transition through widely circulated reports, which are based on wobbly foundations. It would be a folly to take them seriously. India’s rise will be resisted, as was the case with China and, going back in time, with Japan during the 1980s. 
Going forward, consequently, the Indian government and businesses will have to work harder to counter such predispositions. Managers of multinational companies have their task cut out to convince head-office that the reality is different to perceptions. The rise of India, will recurrently  come up against resistance. Businesses must be prepared for this regrettable inevitability. This podcast explains.

Nandan Nilekani played the formative role in creating the basic infrastructure - Aadhar - upon which various offerings and government services have been stacked. He advised UPI, ONDC and informally worked with the government on several projects. 

Perhaps, most importantly, it is said that he convinced the Prime Minister, in the early months of the administration in 2014, of the enormous spectrum for offerings that could be dovetailed on the UID platform. Full credit to Mr Narendra Modi, for having recognised, very early on, how significant Aadhar would be as the basis of his personal vision to transition India into a new digital age. But India also owes Nandan a great debt, as this podcast explains.

Since the pandemic, ESG investing has scaled new heights and regulators have also sharpened their focus on the issue. In India, ESG has also become the subject of regulatory requirements by SEBI and the Ministry of Corporate Affairs.  However, more and more stakeholders are questioning the entire ESG movement.

At recent India CFO and CEO Forum sessions, Rahul Bhasin, Managing Partner of Baring Private Equity Partners India and Senior Partner and Global Board Member of Baring Private Equity Partners International, addressed some pressing questions surrounding the ESG movement. This podcast offers a brief summary of the session along with a fuller commentary on the subject.

India’s political economy remains an enigma. Many significant changes have been implemented with a scale and efficiency previously unseen, but at the same time, key economic priorities have received less attention than expected. 

At recent India CFO and CEO Forum sessions, Rajat Sethi, a political strategist and adviser to the state governments of Manipur and Jharkhand, shared his insights on the dynamics of India’s evolving political landscape, the fault lines and headwinds ahead, and the expected policy changes that business leaders must prepare for. This podcast offers a brief summary of the session along with a fuller commentary on the subject.