Flexible Labor Laws norm for Growth in Present Commercial Scenario
thoughts shared by Dr. Raghupati Singhania, Chairman and Managing Director of JK Tyres Ltd, in his maiden speech at the Udaipur Chamber of Commerce and Industry (UCCI)
“Nurturing a dream to become an Industrialist is the first requirement on your way to become a big industrialist or businessman. The realization or feeling of providing employment to a large number of people and raising their economic levels will go a long way in providing the impetus to realize this dream.”
These were the thoughts shared by Dr. Raghupati Singhania, Chairman and Managing Director of JK Tyres Ltd, in his maiden speech at the Udaipur Chamber of Commerce and Industry, Madri, Udaipur. Dr. Singhania was a Chief Guest at the UCCI’s Golden Jubilee Lecture series on Emerging Scenario and Challenges of Indian Trade and Industry.
During a question answer session following his speech at the PP Singhal Auditorium on September 23, he responded to a variety of questions and shared his perspective on the current situation of the Indian Economy and the contributions of industry.
Dr. Singhania said that the main reason behind the increasing costs of products despite a reduction in the costs of production methodologies and use of technology, is that the costs of raw material has gone up. Transportation costs are also increasing due to increased cost of fuel and man power. Tax imposed by government leads to a regular increase in price of products, instead of reduction.
On the HR perspective, Dr. Singhania said that organisations should ensure a healthy and lower stress environment, to ensure maximum productivity out of their employees.
He further said that the well founded Labour Laws in the 1950’s, are not relevant in today’s commercial landscape. Flexible Labor laws will go a long way in providing impetus to industrial and economic growth. He proposed implementing laws pertaining to Contractual project based employment to overcome the nuances in the existing Labour laws related to Labour Unions. Also a dearth of skilled labour in many areas has resulted in the cost per employee going up inspite of lower costs to company.
Dr Singhania also shared his perspective on the role of Finance companies, who tie up with manufacturers to sell their products to end consumers – this results in undue stress when it comes to paying off installments and also the price of the product goes up. His advice was to buy as per capacity.
Industries should participate in Private Public Partnership programs to provide relevant training to youngsters who in turn can take up employment in these industries.
On a question related to corruption, Dr Singhania said that it is important that the administration be open and visionary.
While addressing the audience, Dr Singhania also said that inspite of the governments various policies towards industrial growth and development, certain political aspirations have resulted in presenting a negative image of industries.
Earlier, VP Rathi of the UCCI inaugurated the session and welcomed the guests, which included members of the UCCI, various industrialists of the region, business professionals, managers, officers and students who were keen on entrepreneurship.
Brief Profile of Dr. Raghupati Singhania
Dr. Raghupati Singhania is Director of JK Organisation and Chairman and Managing Director if JK Tyre & Industries Limited – a leading Indian Tyre Manufacturer. Apart from being on the Managing team of various companies across the group, he is also Pro Chancellor of JK Lakshmipati University, Jaipur.
A visionary and technology savvy business leader, he keeps himself abreast with the changing times and needs of the business. His remarkable visionary abilities blended with innovative and entrepreneurial zeal have been demonstrated in his pioneering in introduction of radial technology in India way back in 1977 when all other tyre companies in the counry were pursuing only conventional technology.
Dr. Singhania is a humanitarian, and his concern and empathy is well reflected in the type and magnitude of the work that JK Tyre has done over the years to improve the life of the community at large.
His dynamism is reflected in the fact that he tool to promoting Motor Sport in India more than two decades ago, putting India on the Motor Sport Map of the World.
His illustrious career is studded with numerous Indian and International prestigious recognitions and awards – the recent one’s being “Hall of Fame – Corporate Icon of the Year 2011”; Inspirational Leader of New India 2013” and “Admired Leader of Aisa 2014-15” awards.