Dr Sahadulla, Chairman & Managing Director, KIMS Healthcare

Dr. Babu Thomas, Chairman, TRIMA - 2018

Shri Prasad Unnikrishnan, Director, KPMG Advisory Services

Pvt Ltd

Shri Harikesh, President, Trivandrum Management Association,

Smt. Jayashree, Hon. Secretary, Trivandrum Management

Association

Friends in Media

Sahodaree Sahodaranmaare,

Ellaavarkkum Ente Namaskaaram,

I am very happy to inaugurate TRIMA 2018, the annual Management Convention of the Trivandrum Management Association, which has chosen ‘Steering Business in the Transforming Economy’ as its major theme.

Let me at the outset, compliment the Association for having chosen the sub themes in tune with the national campaigns of Digital India, Ease of Doing Business and Building of Infrastructure. At a time when ‘Disruptive Technologies and Governance Issues in Business’ are hotly discussed all over the world, the deliberations in this Convention have great relevance.

As all of us know, during the last seven decades, we have progressed from a nation battling hunger to one of the emerging economic powerhouses of the world. Our ranking in many economic indexes has improved considerably in recent years, making our nation an attractive investment destination for the world.

In the context of India achieving the highest leap in the Global Competitiveness Index of the World Economic Forum, getting the highest Foreign Direct Investments in recent years and scoring a high growth rate, we can certainly expect better prospects in our business sector. When it comes to Innovation, India's position in the 2017 Global Innovation Index has moved up six ranks to 60. Though we are behind China, Russia and South Africa, the rate at which we improve our position in the Global Innovation Index shows our commitment towards improving the economic scenario.

When it comes to performance of Indian business firms, we have more reason to be hopeful, because Make in India has now become a globally recognized brand. Besides, new areas are opening up in the form of what we call Disruptive Technologies that range from Mobile technology to advanced Robotics and Renewable Energy. What is interesting is that all these technologies are capable of igniting innovative minds to think of new business models. However, we need to ensure that more people come forward to make use of this favourable business climate.

It is common knowledge that businesses can succeed only if they adapt to new technological and other advancements. But, many people in business are reluctant to adapt because they either lack knowledge about the new trends or are not professionally skilled to move on to new areas. It is here that skill training becomes very important. Business has become the world of good learners who are also willing to continue the learning process. I feel that professional organizations like Trivandrum Management Association should give thrust to enhancing the skills and knowledge of its members regularly so that they can contribute to the growth of their business areas. I would also suggest regular sessions of training for entrepreneurs so as to instill confidence in them about using emerging technologies in business.

Let us take one instance of Renewable Energy, where India is on its way to be the world's clean energy capital by increasing renewable capacity by more than five times to touch 175 Giga Watts in 2022. We have so much potential, but not enough number of entrepreneurs with proper knowledge about making it a business option. Moreover, we even forget that renewable energy has a huge social benefit in terms of reducing energy costs and controlling carbon emissions. Our business ideas should always be focused on the benefits they would bring to society, especially the Kerala society since we operate in Kerala.

Personally, I would request this audience to use the disruptive innovations to bring qualitative changes in the industries related to agriculture, dairy, food production and food processing. Our potential in these areas and in our marine wealth remains under-utilized as of now. Use of innovations should extend to these vital areas too, and should not be limited to the services sector alone.

Now that the industrial economy has transformed itself to an innovation economy, our business houses have to concentrate on Research and Development. Sadly, even some of our large corporates spend only a negligible share of their wealth on Research. I wish professional Management Associations could persuade organizations to devote more time and resources to research and development so that our companies also become equipped to compete at the higher levels of the global value chain.

I hope this Convention would have elaborate discussions on these matters and that the deliberations would help to strengthen Kerala's development initiatives too. I also expect to see this Convention contributing valuable suggestions to the policy makers, since governmental policy can play a pivotal role in creating an environment conducive to innovation.

I have been told that over 500 delegates comprising management experts, policy makers, industry experts academics and students are participating in the Convention.
I greet each and every delegate and wish them a fruitful time.

I compliment the organizers for conducting this function in a befitting manner and wish the Convention all success.

Ellavarkkum Ente Aashamsakal

Nanni

Jai Hind