Forum: Entrepreneurship Forum
Speaker: Mr. M S.Unnikrishana,
The basis of a start-up is to create an idea to solve the existing problems. The new generation, interested in starting its business venture, is expected to think in a different manner. The new generation should be given freedom to think ahead of times to solve problems as India is undergoing the largest urbanisation in the world. “The urbanisation is making a huge consumer market in the country which is creating demand and driving the consumer markets to grow exponentially,” said Mr M S Unnikrishnan, Managing Director and CEO of Thermax Limited, while talking on ‘Opportunities for start-ups in SMEs in India’, organised by the Vidarbha Industries Association (VIA).
He said that the country with its booming population was offering unlimited opportunities for businesses. A large number of people were migrating from villages to cities and each person required unlimited products and services under which the domestic market was growing. “If there are people there will be a market,” he said. Also, for the society to advance, the Government should focus on improving the Human Development Index (HDI). This was one of the growth factors for development of the country. Another factor was to focus on science in creating technology which would be passed on to benefit commerce. He talked about Abraham Maslow’s theory proposed in his 1943 paper — ‘Theory of Human Motivation in Psychological Review’ — for understanding human motivation.
Mr Unnikrishnan said that motivation was required to be infused into young minds to think, create ideas and translate their ideas into product and become entrepreneurs. He highlighted that in India with a burgeoning population, the largest growth would be in the food and agriculture sectors. The average land holding had come down from 5.5 acres to 2 acres in the country due to Government restrictions on land holdings. People should look at using mechanisation in farming, new implements to increase the yield per acre and cold storage to preserve food for a longer time. Also, growing food in a scientific manner using hydroponics or hydroculture, which is the method of growing plants without soil, using mineral nutrient solutions in a water solvent. “Start-up is the most difficult thing. About 93 per cent of the start-ups end up in failure,” he pointed out.
He said that globally manufacturing was undergoing a drastic change. The people should think of the future manufacturing taking place across the globe. Replicating manufacturing would be wasteful in India as sporadic change would disrupt the manufacturing hub of the world. “The companies are working on Industry 4.0, Internet of Things (IOT), 3D Imaging, etc. Today machines are able to communicate with each other and take decisions. By 2030, the smart machines or equipment population will be at 40 trillion. Due to this, a lot of people will be left with no jobs. The human intelligence will have to play a greater role to overcome challenges and tap the unlimited opportunities,” he said.
Prominently present were Mr Atul Pande, President of VIA, Mr Akash Agrawal, Chairman of Entrepreneurship Forum and Mrs Anita Rao, Convener of Entrepreneurship Forum. Mr Suhas Buddhe, Secretary of the VIA proposed the vote of thanks.
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