Horasis India Meeting5-6 July 2015, Interlaken, Switzerland

a Horasis leadership event

Co-hosts:Bern Economic Development Agency Confederation of Indian Industry (CII)

Report

Horasis is a global visions community committed to enact visions for a sustainable future (http:/www.horasis.org)

Upcoming Horasis events:

Horasis China Meeting Cascais, Portugal, 22-23 October 2015

Horasis Global Meeting Liverpool, United Kingdom, 13-14 June 2016

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Horasis India Meeting5-6 July 2015, Interlaken, Switzerlanda Horasis leadership event

Co-hosts:Bern Economic Development AgencyConfederation of Indian Industry (CII)

Co-chairs:Abdulmajeed Ismail Al Fahim Chairman, Pearl Dubai, UAE

Edmond Alphandéry Former French Minister of Economy, France

Rahul Bajaj, Chairman Bajaj Auto, India

Chandrajit Banerjee Director General, CII, India

Subodh Bhargava Chairman, Tata Communications, India

Lord Karan Bilimoria Chairman, Cobra Beer Partnership, United Kingdom

Naushad Forbes Director, Forbes Marshall, India

Francesco Gherzi Chairman, Gherzi Engineering AG, Switzerland

Sunil Godhwani Chairman, Religare Enterprises, India

Rajive Kaul Chairman, Nicco Group, India

Sunil Kaushal CEO South Asia, Standard Chartered Bank, United Kingdom

Habil Khorakiwala Chairman, Wockhardt, India

Sumit Mazumder Chairman, TIL, President, CII, India

William Meaney Chief Executive Officer, Iron Mountain, USA

H M Nerurkar Chairman, TRL Krosaki Refractories; President, AIMA, India

Vachara Phanchet former Thai Minister; Chairman, Sittipol Holdings, Thailand

Dilip Piramal Chairman, VIP Industries, India

Deepak Premnarayen Chairman, ICS Group, India

Gunjan Sinha Chairman, MetricStream, USA

Ashok Trivedi Co-Chairman, IGATE Corporation, USA

Urs Widmer Chief Operating Officer, SIX Swiss Exchange, Switzerland

Strategic Partner: PwC

Co-organizers:All India Management Association (AIMA)Swiss-Indian Chamber of Commerce

Knowledge Partners: MetricStream

Quintessentially Lifestyle India

SIX Swiss Exchange

Standard Chartered Bank

Media Coordination: Pulse Nation

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Hotel Victoria-Jungfrau, the venue of the 2015 Horasis India Meeting

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Interlaken Conference Center

Table of Contents

Foreword 6

Celebrating the 2015 Indian Business Leaders of the Year 34

Ravishankar to speak in Switzerland on Indian Values 36

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Foreword

On 5-6 July 2015, the seventh HorasisIndia Meeting took place in Interlaken,Switzer land. The event gathered a collectiveaudience of 300 Indian and global entre -preneurs, business leaders and governmentofficials. With this Horasis India Meeting,Horasis aimed to present an interdisciplinaryand systemic view of the major economic,societal and technological drivers currentlyat work in India and the world. The locationof the meeting rotates annually, and was heldso far in Munich (2009), Madrid (2010),Naples (2011), Antwerp (2012), Belfast (2013)and Liverpool (2014). The 2015 meetingwas jointly hosted by Horasis in partnershipwith the Bern Economic DevelopmentAgency and the Confederation of IndianIndustry (CII).

The Modi government just completed itsfirst year in office and perhaps this is a goodtime to test its progress towards its promisedagenda of change. The Horasis India Meetingwas the first landmark business meeting onIndia to take stock of the state of the Indianeconomy after having seen the new govern -ment one year into power.

Indian industry seems to have a firm beliefin the steps taken by the government tousher in economic growth. The generalperception is that the government has been

pro-business and economic development.The momentum for accelerated growthappears to be building. Also, notwithstandingthe immensity of the unprecedented eco -no mic transformation, the outcomes ofthe Horasis India Meeting suggested thebroad consensus that India will contribute ina substantial way to global growth providedkey challenges are addressed without delay.

Participants discussed a set of possibletrajec tories for India’s economy. The mee -ting focused on the government’s policiesand the related changing paradigm of theIndian economy. Sustained structuralreforms aimed at enhancing competitivenesswill be necessary to bolster and boost India’seconomic growth and ensure the risingprosperity of its population going into thefuture.

This report – which builds on the outcomeof the meeting – is an attempt to summarisethe discussions which took place at theHorasis India Meeting. The report shallserve as a catalyst that stimulates furtherthinking on the issues and questions thatwere raised. Also, being a business-focusedgathering, valuable opportunities forbusinesses were identified during thevarious panels as well as on the side-linesof the event.

Opening reception

Sri Sri Ravi Shankar being greeted by participants

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The star contingent of participants hasbeco me the trademark of the Horasis IndiaMeeting.

The active participation of governmentrepresentatives from India, Switzerland andSouth Africa as well as the contri bu tions ofIndian and global CEOs underlined theextraordinary calibre of this year’s gathe -ring and attendant discussions. The followingmeeting co-chairs represented the meetingvis-a-vis the government, regional authoritiesand the general public: AbdulmajeedIsmail Al Fahim, Chairman, Pearl Dubai,UAE; Edmond Alphandéry, FormerFrench Minister of Economy, France;Rahul Bajaj, Chairman, Bajaj Auto, India;Chandrajit Banerjee, Director General,CII, India; Subodh Bhargava, Chairman,Tata Communications, India; Lord KaranBilimoria, Chairman, Cobra Beer Partner -ship, United Kingdom; Naushad Forbes,Director, Forbes Marshall, India; FrancescoGherzi, Chairman, Gherzi Engineering AG,Switzerland; Sunil Godhwani, Chairman,Religare Enter pri ses, India; Rajive Kaul,Chairman, Nicco Group, India; SunilKaushal, Chief Executive Officer SouthAsia, Standard Chartered Bank, UnitedKingdom; Habil Khorakiwala, Chair man,Wockhardt, India; Sumit Mazumder,Chairman, TIL, President, CII, India;

William Meaney, Chief Executive Officer,Iron Mountain, USA; H M Nerurkar,Chairman, TRL Krosaki Refractories; Presi -dent, AIMA, India; Vachara Phanchet,former Thai Minister; Dilip Piramal,Chair man, VIP Industries, India; DeepakPremnarayen, Chairman, ICS Group, India;Gunjan Sinha, Chairman, MetricStream,USA; Ashok Trivedi, Co-Chairman,IGATE Corporation, USA; Urs Widmer,Chief Operating Officer, SIX SwissExchange, Switzerland.

Opening Plenary – India and World Economic Outlook

Participants discussed a set of possible trajectoriesfor India’s economy.

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The government faces a mammoth task to meet India’s soaring expectations.Accordingly, participants sought to identifyboth the key enablers as well as the keyobstacles to achieving India’s ambitioushigh-growth agenda. Participants identifiedthree main priorities for the Indian economy:

• There is a great desire for change,especially among business leaders,India’s youth and the middle class. Also,India must close the gender gap if growthis to be truly inclusive. The governmentwill have to slay the bureaucratic inertiawhich has for too long held the countryback. The country must keep its reformson track. And India must create 10 mil -lion jobs a year, four times the pace of

the last 5 years, to absorb youth intothe workforce. The education andtraining of future generations is offoremost importance as a factor incollective development.

• The key sector to watch is infra struc tu re.India’s growth has been muted by abacklog of stalled projects in the powerand infrastructure sectors. The lack ofroads remains the greatest obstacle.Incentives to public-private partner -ships in key infrastructure sectors areessential, to act as stimulus to privateinvestment and faster growth.

• India needs to improve its investmentclimate. If foreign investment is toachieve its full potential as an accelera torof economic growth, there needs to begreater clarity in the approvals process,and in the legal and tax systems. India’scompetitive advantage is in technology-intensive manufacturing – India’smanufacturers must lead by innovation,tapping the inherent creativity of itsentrepreneurs. The Prime Minister’smission ‘Make in India’ is the rightchannel to both attract investments andfoster entrepreneurship.

Virtual Ribbon Cutting Ceremony

Pravin Gordhan, Minister of Cooperative Governance andTraditional Affairs, South Africa

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Speaking on behalf of the Canton of Bern,Hans-Jürg Käser, President and StateCouncillor, Canton of Bern, Switzerland,welcomed participants to both start andcontinue discussions to further build onexisting links between the Canton andIndia. ‘The Canton of Bern epitomizes theclose partnership between India andSwitzerland that can be traced back fordecades and has been underpinned by deepfinancial ties over the last years.’ ‘Interlakenhas become a gateway through which busi -ness leaders from India go on to experiencethe tourist attractions as well as investmentopportunities that we have to offer,’ addedUrs Graf, Mayor, City of Interlaken,Switzerland. He invited participants toexplore Interlaken, this picturesque towndubbed 'Indialaken' due to Bollywoodusing it. ‘Interlaken’s nearby mountainshave served as backdrop for some ofIndia’s best known movies,’ he said.

‘The Canton of Bern epitomizes theclose partnership between India andSwitzerland that can be traced backfor decades’Hans-Jürg Käser, President and State Councillor,Canton of Bern, Switzerland

Opening dinner Co-chair Rahul Bajaj, Chairman, Bajaj Auto

Hans-Jürg Käser, President and State Councillor, Canton of Bern

Chitra Narayanan, Ambassador (ret.) of India to Switzerland

Abdul Majeed Al Fahim,Chairman, Dubai Pearl, UAE

Urs Graf, Mayor of the City of Interlaken

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Chandrajit Banerjee, Director General,Confederation of Indian Industry (CII), India,stressed the importance of the partnershipbetween CII and Horasis. He noted thatthe Horasis India Meeting is an importantcommunity building opportunity. ‘The pro -gramme is deliberately designed to provideboth formal and informal occasions torenew old contacts, make new ones andshare ideas on all aspects of the Indian andglobal economy. We at CII are very proudto be associated with Horasis,’ he said.

In a curtain up brainstorming sessionentit led ‘India – One Year into a NewGovernment’ participants had a rarechance to hear views on the record ofIndia’s new government and leadership inits determination to re-engineer the country.In a free flowing discussion moderated byinternational broadcaster Nik Gowing,delegates asked what the audit is so far.According to Chandrajit Banerjee,Director General, CII, Narendra Modi’siconic style of leadership has come as abreath of fresh air for Indians. ‘The inter -national community is rather satisfied withthe beginning made, but there is still a longjourney ahead,’ conveyed Abdul MajeedAl Fahim, Chairman, Dubai Pearl, UAE.

And, as Ashok Trivedi, Co-Chairman,IGATE Corporation, USA, stated, ‘weentrepreneurs must give the governmentsome time. We cannot change old habitsovernight.’ ‘After years of deprivation Isee true leadership which manifests itself

‘Narendra Modi’s iconic style ofleadership has come as a breath offresh air for Indians’Chandrajit Banerjee, Director General, CII, India

‘The international community is rathersatisfied with the beginning made, butthere is still a long journey ahead’ Abdul Majeed Al Fahim, Chairman, Dubai Pearl, UAE

Nik Gowing chairing the brainstorming session

Chandrajit Banerjee, Director General, CII, during thebrainstorming session

Lord Karan Bilimoria, Chairman,Cobra Beer Partnership, United Kingdom

Gunjan Sinha, Chairman,MetricStream, USA

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through dedication and enduring patience,’Dilip Piramal, Chairman, VIP Industries,India, added. While there may be no ‘big-bang’ reform programme, ‘there have beena good number of initiatives with theobjective of doing business easier,’ SunilKaushal, Chief Executive Officer SouthAsia, Standard Chartered Bank, UnitedKingdom, observed. Still, there are plentychallenges ahead, delegates warned. Thegovernment’s extensive agenda for actionincludes infrastructure, land, labour, tradefacilitation, infrastructure – particularly thepower sector, subsidies and the allocationof natural resources.

Speakers share a light momentA boardroom discussion

Ashok Trivedi, Co-Chairman, IGATE Corporation, USA Sunil Kaushal, CEO South Asia, Standard Chartered Bank

Tariq Ahmed Nizami, ChiefExecutive Officer, CEO ClubsNetwork Worldwide, USA

Sushil Choudhari, Founder, Scandid, USA

Dilip Piramal, Chairman, VIP Industries

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A possible threat to governments that haveclear mandates is sometimes the unrealisticexpectations that come with a big victory.Neena Gill, Member of the EuropeanParliament, Belgium, indicated that theIndian government has set the stage byintroducing various initiatives in one year.‘It should now introduce measures foreffective implementation of all its initia tives,’Nehal Sanghavi, Senior Advisor for Inno -vation and Partnership, USAID, USA, said.

Philippe Reich, Member of the Board,Swiss-Indian Chamber of Commerce,expressed concern that the government isnot moving fast enough. ‘We feel uncertain.We need a clearer roadmap,’ voicedOltmann Siemens, Member InternationalAdvisory Board, International FinanceForum, China.’ The government must alsoaddress social issues such as gender andunacceptable traditions that hinder womenfrom security and progress,’ stated RajitaKulkarni, President, World Forum forEthics in Business, Belgium. DianaSkelton, Deputy Director General, ATDFourth World: All Together in Dignity,France, echoed Kulkarni’s note, addingthat many challenges are based upon old

‘After years of deprivation I see trueleadership which manifests itself throughdedication and enduring patience’ Dilip Piramal, Chairman, VIP Industries, India

Philippe Reich, Member of the Board, Swiss-Indian Chamber of Commerce

Neena Gill, Member of the European Parliament – the government should now introducemeasures for effective implementation

Rajita Kulkarni, President, World Forum for Ethics in Business,Belgium

Nehal Sanghavi, Senior Advisor for Innovation and Partnership,USAID, USA

Diana Skelton, Deputy DirectorGeneral, ATD Fourth World,France

Oltmann Siemens, MemberInternational Advisory Board,International Finance Forum

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and comfortable ways of doing things. ‘Weneed to break the mood of caution and pre -servation,’ Jochum Haakma, Director,TMF Group, The Netherlands, concluded.

Addressing participants during the openingdinner, Johannes Matyassy, AssistantState Secretary for Asia Pacific, Switzerland,said that ‘India holds great promise foreconomic engagement with Switzerland.’‘Both India and Switzerland being greateconomic partners that we are will findthe ways to further deepen and diversifyour economic engagement,’ he continued.Switzerland could be a springboard forIndian companies to reach out to Europeand the world. ‘Our partnership with India

will play an important role in our economicgrowth pattern,’ he said. Commenting onthe first one year of the new Indian govern -ment, Sumit Mazumder, President, CII,said during the same dinner that ‘the govern -ment has achieved more in the first yearthan most other governments have achievedin their first year. Economic strategies anddeliverables have gained momentum.’

In his welcoming speech featured live pervideo link, Suresh Prabhu, UnionMinister of Railways, India, stressed theIndian government’s commitment to wide-ranging reforms. The Minister made a strongpitch for the government’s ‘Make in India’campaign, announcing the government’s

Suresh Prabhu, Union Minister of Railways, addressing the audience

Johannes Matyassy, Assistant State Secretary, Switzerland Jochum Haakma, Director, TMF Group, The Netherlands

Suresh Prabhu, Union Minister of Railways

John Martin Miller, Senior VicePresident, Nestle�, Switzerland

Sumit Mazumder, Chairman, TIL; President, CII, India, speaking during the opening dinner

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accelerating efforts to diversify the eco no myand develop the manufacturing sector.Elaborating further, the Minister reportedthat economic indications as rising stockmarkets and the strengthening rupee aregood indicators of positive changes to come.

‘The Indian government will push for moreeconomic reforms in the months ahead,including the easing of limits on foreigndirect investment in various sectors,’ added

Arvind Panagariya, Vice Chairman, NITIAayog (National Institution for Trans for -ming India). He recognized the impor tanceof bureaucratic reform. ‘Better governanceis key,’ he said. ‘And we have to increasethe service level of the public administra -tion. India is forging a strong skills base,which will not only meet the country’sfuture needs but also help bridge theglobal skills in the future,’ he concluded.

Highlighting some of the advantages of in -vesting in South Africa, Pravin Gordhan,Minister of Cooperative Governance andTraditional Affairs, South Africa, maintainedthat his country is the natural partner ofIndia in the emerging markets realm.‘South Africa and India want trade relationsto be accelerated, given the tremendousopportunities that exist in several key sectorsof mutual interest,’ he told participants.

A special after-dinner plenary took stockof promises made in the 2014 election

‘We are accelerating our efforts todiversify the economy and develop the manufacturing sector’Suresh Prabhu, Union Minister of Railways, India

‘South Africa and India want traderelations to be accelerated, given thetremendous opportunities that exist inseveral key sectors of mutual interest’Pravin Gordhan, Minister of CooperativeGovernance and Traditional Affairs, South Africa

Minister Gordhan introduced by Deepak Premnarayen, Chairman, ICS Group

Arvind Panagariya, Vice Chairman, NITI Aayog Mihir Kupadia, Chief ExecutiveOfficer, Global Investments

Aparup Sengupta, ExecutiveChairman, Minacs, Canada

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manifesto. ‘How can the new Indiangovernment assure investors that thecountry’s growth story is intact? Whatreforms are needed to make growthsustainable?’ asked Karan Thapar, Presi -dent, infotainement Television, India. ‘Theresults of the 2014 election, where votersousted more than 40% of the members ofparliament, show that, while democracy isentrenched in India, people’s expectationsare high and they are demanding account -ability,’ stated Deepak Premnarayen,Chairman, ICS Group, India. ‘India is at aturning point right now,’ Lord KaranBilimoria, Chairman, Cobra BeerPartnership, United Kingdom, argued.‘The economy certainly is in better shapethan in the past few years.’ According toSushil Premchand, Managing Director,PRS Services, Switzerland, ‘India’s govern -ment needs to assure global investors thatthe country’s growth story is intact andthey can look forward to a stable andtransparent policy regime.’ ‘There is a newconfidence in India,’ reasoned NaushadForbes, Director, Forbes Marshall, India.‘Investor confidence is substantially in -creasing. But, to attract more investment,India must address perceptions that it is adifficult place to do business,’ he said.Indeed, India’s ranks low on investment.

Overregulation is a big problem. Thepanellists also emphasized the need for aredoubling of reform efforts to promotegrowth and create jobs.

Throughout the Horasis India Meeting, inmore than 25 sessions and numerousprivate meetings, participants discussedwhat policies and strategies can supportIndia’s growth agenda as well as the globalaspirations of Indian firms. Sessions at theHorasis India Meeting examined how busi -ness leaders can best stimulate the Indianeconomy and identify growth opportunitiesin sectors such as infrastructure, energy andcommodities, IT, real estate and healthcare.Panellists also explored a wide range of

Karan Thapar, President, infotainement Television, hosting an evening plenary

Naushad Forbes, Director, Forbes Marshall

Harjiv Singh, Founder, SalwanMedia, USA

Ishan Raina, Founder and ChiefExecutive Officer, ooh Media

Sushil Premchand, Managing Director, PRS Services, making a point

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topics, covering trade and investment,entrepreneurship, branding and technology.

On the opening plenary, panellists expres sedconfidence in the government but called forpatience to allow reforms to work through.‘We need more and better reforms to boostthe economy, which has been hobbled byinflation as well as by fiscal and currentaccount deficits,’ conveyed Rahul Bajaj,Chairman, Bajaj Auto, India.

Edmond Alphandéry, Former FrenchMinister of Economy; President, Centre forEuropean Policy Studies (CEPS), France, wasconfi dent that India will shed its gradualism.He believed that the new government –similar to what the local government ofGujarat did during the last 10 years – willremove growth barriers and provide a morecon duc tive environment to tap into thusunrealised potential for accelerated eco -nomic growth. India is going in the rightdirection.

Sumit Mazumder, President, CII, agreed:‘The path the country has taken will ensurethat we will soon be a new and bettersociety.’ With its vast domestic market,comparatively less export dependency andrelative macroeconomic stability, India’seconomy has proven resilient in a challen -ging global context. But there has yet to bea revival in investment, Gunjan Sinha,Chairman, MetricStream, USA, observed.‘If we see two or three quarters of steadygrowth, we can then step back and say thereforms are working. Pressure will build

‘We need more and better reforms to boost the economy’ Rahul Bajaj, Chairman, Bajaj Auto, India

‘India is going in the right direction’Edmond Alphandéry, Former French Minister of Economy, France

Salil Singhal, Chairman and Managing Director, PI Industries,makes a comment from the floor

Ana Carcani Rold, Founder and Publisher,Diplomatic Courier, USA

Siddarth Ganeriwala, CEO, Aura IntegratedSolutions, speaking about Bollywood and Switzerland

Edmond Alphande�ry, Former French Minister of Economy Amit Dutta, Managing Director,Quintessentially Lifestyle Services(India)

Seann Nelipinath, Chairman,India Chamber of Commerce, USA

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for more major restructuring that will beneeded for India to remove possible con -straints to growth, panellists concluded.

Bullish about India’s growth, KrishnaBodanapu, Chief Executive Officer,Cyient, India, shared his estimation ofdouble-digit GDP growth in the years tocome. He announced that the Indian eco -nomy could be worth as much as USD 40trillion by 2040. This would constitute 20percent of the world economy, up from thecurrent two percent. He pointed out thatfavourable demographics, technology, andan appreciating rupee were among thefactors which favoured this economic growth.‘India under the BJP government remainsdivided,’ warned Seann Nelipinath,Chairman, India Chamber of Commerce,USA. ‘There is still the other India that isdistressed by a whole spate of promisesthat have not been fulfilled, irrespectivewhich government is in power,’ AnaCarcani Rold, Founder and Publisher,Diplomatic Courier, USA, said. Challengesinclude job creation, modernisation of therural sector, more substantial investmentin education and skills development, moreinvestment in infrastructure and a need toliberalise the banking and insurance sectors,’voiced Parag Agarwal, Chairman,

Supremus Group, India. Amit Sarin, ChiefExecutive Officer, Anant Raj Group, India,argued that the new Indian economicdevelopment model shall also focus on thecountry’s poor who are not part of theformal economy.

‘Despite India’s continued economicsuccess, the country has many inherent risks,’feared Mirjana D. Perko, Chairperson,inCon, Slovenia. ‘Changing the fundamentalcharacter of India’s traditional politicaleconomy is only one of the new govern -ment’s challenges,’ conveyed SiddarthGaneriwala, Chief Executive Officer,Aura Integrated Solutions, India. Thegovernment now has to take on many

Plenary – Rebooting India’s Economy

Mirjana D. Perko, Chairperson, inCon, Slovenia

Krishna Bodanapu, ChiefExecutive Officer, Cyient

Amit Sarin, Chief ExecutiveOfficer, Anant Raj Group

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decades of densely elaborated entitlements,subsidies, formal and informal obligations,and bureaucratic trade-offs,’ proposedAnirudh Shingal, Senior Research Fellow,World Trade Institute (WTI), Switzerland.The urge to take timely decisions, whichmay be driven by a desire to meet the highexpectations, can potentially clash withinstitutional requirements and processes,’reasoned Deepak Puri, Chairman &Managing Director, Moser Baer, India.Collaborative political dialogue mustbecome the norm if India is to get thegovernment it deserves. Jan Siemons,Managing Director, Netherlands Councilfor Trade Promotion, The Netherlands,called for closer economic engagement

between India and Europe, especially inthe area of education and trade. SudhirSharma, Chairman, Mitkat Services, India,argued that the government has lifted uptransparency and is taking the necessarysteps to cut bureaucracy, address corruption,and address challenges such as the infra -structure deficit, financial inclusion, andeducation.

Participants debated what will be the nextbig idea for India. ‘What transformationallessons of leadership, innovation andmodernization are coming out of thecountry? What ideas will boost success ofpolitical, societal and economic India?’,asked Prabhu Guptara, Member of theBoard, Institute of Management, Univer -sity of St Gallen, Switzerland. MohiniDaljeet Singh, Chief Executive, MaxIndia Foundation, India, pointed out to thelatent potential in the urban markets. Ruralretail markets for example are expectedtoreach USD 100 billion by 2020. Already,rural consumption accounts for more than70% of total consumption and is growingfaster than urban consumption. Three-quarters of India’s population depend onfarming and could benefit from activitieshigher up the rural value chain, such as foodprocessing and better land management,’

General Sudhir Sharma, Chairman, Mitkat Services Anirudh Shingal, Senior Research Fellow, World Trade Institute (WTI), Switzerland

Deepak Puri, Chairman, Moser Baer

Mohini Daljeet Singh, Chief Executive, Max India Foundation Prabhu Guptara, University of St. Gallen

Parag Agarwal, Chairman,Supremus Group

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said Arvind Kumar, Secretary Industries& Commerce, State of Telangana, India.

India’s youthful population calls attentionto a demographic dividend that could seeIndia become a hub for manufacturing,technological innovation and education,among other things. ‘India’s young and eagerpopulation has set the bar even higher forfurther action and will expect implemen -ta tion of solutions with the same tempothat has characterized the past two decadesof India’s growth,’ said Arjun Pratap,Chief Executive Officer, EdgeNetworks,India. Erica Catrena, Director, TriangleGroup, United Kingdom, was convincedthat a key attribute of youth was having noburden of the past and hence their ability tolook forward to the future. According toRekha Sethi, Director General, All IndiaManagement Association, India, India’stalent pool has always been a big draw. Sheadded that India’s demography is a greatadvantage for the country’s development.Today, 65% of Indian popu lation is belowthe age of 35. Over 425 million Indiansare between the age group of 15-35.Shaurya Veer Himatsingka, NationalChairman, Young Indians, United Kingdom,highlighted the importance of youth in anysociety, and emphasised the importance of

young minds behind societal and economicprogress. He also explained how Indianyouth have transformed from a liability toa demographic dividend. ‘India’s youth isrelatively educated and ambitious, but theirmiddle-class aspirations have stalled in asluggish economy,’ juxtaposed RuchirPunjabi, Founder, Langoor, Australia.‘Now, there is hope,’ said Anant Gawande,Chairman, Talwalkars Gyms, India. ‘Youngpeople really do want change,’ concludedSiddharth Sethi, Co-founder and ChiefExecutive Officer, InfoBeans Systems, India.

Indian people migrated all over the worldcarrying culture and entrepreneurial spiritwith them. ‘How can India tap into the

MR Rangaswami, Founder, Indiaspora, USA, chairing a panel

Erica Catrena, Director, TriangleGroup, United Kingdom

Arjun Pratap, Chief ExecutiveOfficer, EdgeNetworks

Arvind Kumar, Secretary Industries & Commerce, State of Telangana, making an announcement

Shaurya Veer Himatsingka, National Chairman, Young Indians

Rekha Sethi, Director General, All India Management Association

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potential of its diaspora?’ asked MRRangaswami, Founder, Indiaspora, USA.People living in the diaspora are usuallycoming up with new ideas and entrepre -neurial initiatives –for sheer survival in aforeign setting. That’s certaintly the casefor Indians living overseas,’ observedGunjan Bhardwaj, Chairman, Innoplexus,Germany. ‘We need special governmentinitiatives for the diaspora to invest backhome,’ proposed Ram Vaidya, Inter na tio nalJoint Coordinator, RSS, United Kingdom.

The session ‘Create and Make in India’ high -lighted important developments towardsmaking India a manufacturing hub. Rajiv I.Modi, Chairman, Cadila Pharmaceuticals,

India, pointed out that one of the keyfeatures of the ‘Make in India’ campaignwas to make India an easier place to dobusiness. It is in this context, the Indiangovernment announced a fresh round ofmajor reforms in foreign direct investmentin the retail, aviation and insurance sectors.‘The reform package has signalled a renewedintent by the administration to escape thepolicy deadlock in which it was languishing,’explained Sasha Mirchandani, Mana -ging Director and Founder, Kae Capital,India. The panellists called for a redoublingof reform efforts to promote growth andcreate jobs. ‘Going forward, India must focusgreater attention on creating an environmentthat attracts capital and leaves foreign

Gunjan Bhardwaj, Chairman, Innoplexus, Germany, about India’s diaspora

Stiphan Beher, Chief Executive Officer, SpaceTek, USA

Sasha Mirchandani, Managing Director and Founder, Kae Capital

Rajiv I. Modi, Chairman, Cadila Pharmaceuticals Ram Vaidya, International Joint Coordinator, RSS Ruchir Punjabi, Founder,Langoor, Australia

Siddharth Sethi, Co-founder and Chief Executive Officer,InfoBeans Systems

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Anant Gawande, Chairman,Talwalkars Gyms

Thanos Mitrelias, CEO, Cavendish NanoTherapeutics

investors to play their role,’ proposedThanos Mitrelias, Chief Executive Officer,Cavendish NanoTherapeutics, United King -dom. ‘This means providing a regulatoryframework that is seen as efficient andfair,’ explained Sudhir Jalan, Chairman,Jalan Group, India. ‘I see strong foreignliquidity flows into India within the next 3years,’ said Stiphan Beher, Chief ExecutiveOfficer, SpaceTek, USA. ‘Many potentialinvestors wish the Indian government torelax policies defining foreign FDI and takemeasures to encourage investments in manu -facturing,’ reasoned Bhaskar Majumdar,Managing Partner, Unicorn India Fund,United Kingdom. Sudhir Tiwari, ChiefExecutive Officer, ThoughtWorks, USA,

explained that Prime Minister Modi isplanning to revitalise fiscal regimes acrossthe financial and other sectors making lawsclearer.

India’s infrastructure continues to be aconstraining factor. ‘Major inhibitors arethe slow pace of triggering projects,hurdles in implementation, and thefrequent changing of regulations, observedPhilippe Welti, Ambassador of Switzerlandto India (ret.), Switzerland. ‘The Indianindustry expect from the governmentinitiatives to speed up the development ofinfrastructure,’ pinpointed Nasser Munjee,Chairman, DCB Bank, India. According toArun Sharma, Chief Investment Officer,

Sudhir Jalan, Chairman, Jalan Group, reflecting on the ‘Make in India’-compaign

Sudhir Tiwari, CEO, ThoughtWorks, USA Bhaskar Majumdar, Managing Partner, Unicorn India Fund, UK

A plenary panel

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IFC, USA, ‘consistent levels of investmentin logistics infrastructure are necessary.India must do its homework.’ ‘There is agrowing gap in the investment required inthe infrastructure sector and the actualinvestment undertaken,’ added PierreMemheld, Partner, Relecom Partners,France. According to Vijay Karia, Chair man,Ravin Group, India, ‘India desperately needsmore power, roads, railways, sanitation,irrigation and water. ‘Indeed, India is lookingat spending around USD 1 trillion overfive years in infrastructure,’ observedVibhav Kapoor, Group Chief InvestmentOfficer, IL&FS, India. For this, the govern -ment is working on solving problemsassociated with land acquisition, creating a

multi-modal transport policy and reducingthe cost of capital to make investment ininfrastructure viable.

India has to face up to a re-build and a new-build program for 750 million people in thenext two decades – demanding great fiscaland managerial resolve,’ said Jiten H.Doshi, Founder and Chief InvestmentOfficer, Enam Asset Management Company,India. ‘The improvement in welfare ofhouseholds is contingent on the kind ofinfrastructure that is put in place on thecountryside,’ proposed Ravi K Mehrotra,Executive Chairman, Foresight Limited,United Kingdom. Abhi Shah, Founder andChief Executive Officer, Clutch Group, USA,

Arun Sharma, Chief Investment Officer, IFC, USA, chairing the infrastructure panel

Martin Haemmig, Visiting Professor, Renmin University, China

Rahul Bhasin, CEO, Baring Private Equity Partners India

Jiten H. Doshi, Founder, Enam Asset Management Company Vinod K. Bansal, Chairman, Ficuswealth, asking a question Vibhav Kapoor, Group ChiefInvestment Officer, IL&FS

Ravi K Mehrotra, ExecutiveChairman, Foresight Limited

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emphasised that urbanization was an essentialingredient for growth, and that India neededto focus on a greater urbanization of itspopulation. ‘Handled well, India can reapsubstantial benefits from urbanization,’Gisele Mwepu, Chief Executive Officer,OKAPI Finance International, Sweden,announced. ‘India needs to increase the flowof foreign-owned capital to exponentiallytrigger economic development,’ concludedHeinz Dollberg, Executive Vice Presi -dent (ret.), Allianz, Germany.

Rahul Bhasin, Chief Executive Officer,Baring Private Equity Partners India, India,pointed to entrepreneurship as the wayforward. ‘Few countries have the growth

potential that India already enjoys. Indiaholds the promise of a most successfulfuture,’ revealed Sunil Kant Munjal, JtManaging Director, Hero MotoCorp, India.Entrepreneurs are uniquely positioned tofoster growth in India as the economyrecovers. ‘It is encouraging to see the numberof people who are keen to take the journeyinto entrepreneurship,’ Martin Haemmig,Visiting Professor, Renmin University, China,said. According to Tina Mani, Founder,Teritree Technologies, India, ‘Indian entre -preneurs usually focus less on what thegovernment could do for them – they seehow they can help themselves. ‘That’s trueentrepreneurship. Entrepreneurship is partof our lifeline,’ added Ganesh Ayyar,

Tina Mani, Founder, Teritree Technologies Maurice Pedergnana, General Secretary, Swiss Private Equity Association

Heinz Dollberg, Executive VicePresident (ret.), Allianz, Germany

Abhi Shah, Founder and CEO,Clutch Group, USA

Gisele Mwepu, CEO, OKAPI Finance International, SwedenGanesh Ayyar, Chief Executive Officer, Mphasis Chandrakanth B. N., Founder and Chief Executive Officer, Pairee Infotech

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Chief Executive Officer, Mphasis, India.‘The next decade could be a golden era ofIndian entrepreneurship as conditions areprobably the best ever for us entrepreneurs,’claimed Sushil Choudhari, Founder,Scandid, USA. Tech talent emerging out ofIndia indicates in such a direction,’ conclu dedMaurice Pedergnana, General Secre ta ry,Swiss Private Equity & Corporate FinanceAssociation, Switzerland.

Chandrakanth B. N., Founder and ChiefExecutive Officer, Pairee Infotech, India,noted that Indian entrepreneurs are over -hauling approaches toward innovation totake part in the promise of a networkedglobal economy. ‘If you are in an ecosystem

where you don’t innovate, you will soon beout of the game,’ judged Nicola Pangher,Chairman, TBS GB, United Kingdom.‘India needs to create an even more dynamicenvironment to unlock the entrepreneur -ship potential,’ claimed Rajan Navani, ViceChairman, Jetline Group of Companies,India. ‘India’s future growth will dependincreasingly on the knowledge economy,’said Anjali Raina, Executive Director,Harvard Business School India ResearchCentre, India. ‘Science parks similar to whatwe built in Europe during the last few yearswill boost innovation and technologicaldevelopment in India,’ explained Kai Vettel,Managing Director, Pack Performance,Germany. ‘We need to ensure that innovative

Anjali Raina, Executive Director, Harvard Business School IndiaResearch Centre, reflecting on education in the Indian context

Pieter Perrett, Professor, University of AppliedSciences Northwestern Switzerland

Sandip Sen, Chief Executive Officer, Aegis

Sushma Berlia, President, Apeejay Stya & Svran Group Satyadeep Rajan, President, Swiss Learning Exchange Rajan Navani, Vice Chairman,Jetline Group of Companies

Kai Vettel, Managing Director,Pack Performance, Germany

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firms have easy access to finance at an earlystage of development,’ Sandip Sen, ChiefExecutive Officer, Aegis, India, concluded.

According to Sushma Berlia, President,Apeejay Stya & Svran Group, India,‘education is a country’s most valuableasset.’ And, as Pieter Perrett, Professor,University of Applied Sciences North westernSwitzerland, Switzerland, explained, ‘Indianeeds more focused efforts to match theskills that are needed in fast evolving labourmarkets with the type of education on offerin India.’ ‘Many young people enteringsecondary education are unable to read, andsadly they pass through the system withoutgaining further abilities. Modern economiesdemands employees can read,’ saidKrishan Khanna, Chairman, i Watch,India. On India’s growing employment gap,Satyadeep Rajan, President, SwissLearning Exchange, Switzerland, commen tedthat inflexible labour laws, which employerssay tie their hands if they want to reduce thesize of their workforce, need an overhaul ifIndia is to create the tens of millions ofnew jobs it. Also, according to BhavanaBanerjee, Director, VNS Group of Insti -tu tions, India, ‘small and medium-sizedbusinesses will provide more people withjobs.’ ‘Role models of successful rurally

based firms are good examples that youngentrepreneurs can follow,’ said Jay Thorne,Communications Director, ThunderbirdSchool of Global Management, USA.

Participants debated how to finance India’sgrowth story. For sure, the country needsto increase the flow of foreign-owned capitalto exponentially trigger economic develop -ment. ‘How can Switzerland with itsconcentration of capital and experiencedinvestor base support Indian companiesfinancing future growth?’ asked PraveenP Kadle, Chief Executive Officer, TataCapital, India. The Swiss capital marketstands out for its deep investor pool andefficient listing process. ‘With a free float

Panelists preparing the next panel

Krishan Khanna, Chairman, i Watch, commenting on governance

Nicola Pangher, Chairman, TBS GB, United Kingdom

Brajindar Mohan Singh, Memberof the Board, Anant Raj Limited

Bhavana Banerjee, Director, VNS Group of Institutions

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of 80% for all listed shares, SIX SwissExchange is one of the most liquid exchangesin Europe, offering the highest averageexecutable size in its listed securities,’explained Urs Widmer, Chief OperatingOfficer, SIX Swiss Exchange, Switzerland.

Indeed, India’s economic competitivenessrelies on well-developed and sophisticatedfinancial markets that can channel financialresources to a good use,’ said Ashish

Chauhan, Chief Executive Officer, BombayStock Exchange, India. ‘We now need todevelop and improve domestic capitalmarkets,’ added Atul Joshi, Chief ExecutiveOfficer, India Ratings & Research, India.According to Arun Kumar Jagatramka,Chairman, Gujarat NRE, India, ‘the declinein inflation, more particularly non-foodmanufacturing inflation, will create morespace for India’s monetary policy tosupport growth.

Indian companies are increasingly settingthemselves up as powerhouses of tomorrow’sglobal economy. H M Nerurkar, Chair -man, TRL Krosaki Refractories; President,AIMA, India, stated that ‘the acquisition anddevelopment of global brands might be a fastroute to increase the credibility of Indianfirms, and – in some case – much easierthan introducing a brand to a new consumerbase.’ According to Adrian Mansfield,Managing Director, Global Staffing Solutions,United Kingdom, global expansion hascreated multinational giants from India thatare as global as any of their counterpartselsewhere. And – as Anil Advani,Managing Partner, Inventus, USA, stated –‘Indian firms have achieved only the firststep towards global integration. They nowneed to shift from a traditional domestic

‘With a free float of 80% for all listedshares, SIX Swiss Exchange is one ofthe most liquid exchanges in Europe’ Urs Widmer, Chief Operating Officer, SIX Swiss Exchange, Switzerland

Urs Widmer, Chief Operating Officer, SIX Swiss Exchange Habil Khorakiwala, Chairman, Wockhardt Sunil Godhwani, Chairman, Religare Enterprises,on the globalization of Indian firms

H M Nerurkar, Chairman, TRL Krosaki Refractories Anil Advani, Managing Partner,Inventus, USA

Gour Saraff, Founder, SolarGlobal Services, Spain

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strategy to a broader global approach.’Furthermore, they have to ensure theyincorporate global values into their way ofdoing business.’ Sami Mahroum, Academicand Executive Director, INSEAD,UAE/France, agreed: It’s important toplay the global card.’ According to HabilKhorakiwala, Chairman, Wockhardt,India, globalization has played a major rolein export-led growth, leading to theenlargement of the job market in India.’‘One of the major forces of globalizationhas been in the growth of outsourced ITand business process outsourcing (BPO)services,’ explained Ashank Desai, Co-founder, Mastek, India. ‘But India’s depthof global integration is still lower than one

would expect based on a cross-countryestimates,’ believed Sunil Godhwani,Chairman, Religare Enterprises, India. ‘I strongly believe that globalization helpedreduce the level of unemployment andpoverty in the country, reasoned PrasadDeshpande, Managing Director, DhruvdeshMetasteel, India. ‘Also the effects ofglobalization on Indian Industry are thatforeign firms brought in highly advancedtechnology – this helped to make Indianindustry more technologically advanced,’reasoned Gour Saraff, Founder, SolarGlobal Services, Spain. Adrian Mutton,Founder & Chief Executive Officer,Sannam S4, Switzerland, concluded thatmany of India’s largest companies are poised

Closing dinner Minister Gordhan meeting participants during a break

Ashank Desai, Co-founder, Mastek, speaking about technology Adrian Mutton, Founder & Chief Executive Officer, Sannam S4

Sami Mahroum, Academic and Executive Director, INSEAD, UAE - France

Preeti Sinha, Senior Vice President,Yes Bank

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to expand into international markets andbecome true multinationals.

In a panel called ‘India’s New Stars –Technology’, panellists examined the areasIndian technology companies are pioneeringin and how they compete in world markets.India’s IT and other new technology firmsare emerging as global players in their ownright. According to Pankaj Sharma, ChiefExecutive Officer, LeadInvent Technologies,India, ‘India is now a mature economy, weare experiencing a trickle-down effect dueto the impressive technology output thecountry has been creating over the lastcouple of years.’ According to NS Bala,Chief Executive Manufacturing and Hi-Tech,

Wipro, USA, ‘India’s software industry grewworldwide to be the creator and leader inensuring IT solutions for corporationsacross the world.’ John Cook, Chairman,Rock Lake Associates, Switzerland, andSumit Jamuar, Chairman, Global GeneCorporation, Singapore, agreed that, whilethere are serious challenges to bridging thetechnology gap in the country, there existsignificant opportunities for governmentand industry to collaborate to help developtechnological leadership.

‘Sizable opportunities exist for Swiss firmsthat can provide technology solutions tosupport India’s growth where the righttechnology solution can make a hugedifference,’ said Tarun Gupta, ChiefExecutive Officer, T&A, India. According toVanitha Datla, Chairperson, CII TelanganaState Council, India, ‘Switzerland and Indianow have a fast growing bilateral researchpartnership. ‘This is bringing together thebest minds in both countries to tacklechallenges critical to both countries,’ saidGuna Mahalingam, Managing Partner,NMG International Financial Services,Switzerland. If Switzerland wants to pursuethe India opportunity, then it must reach outto India more confidently and aggressively,’disclosed Thomas Bohn, Managing

John Cook, Chairman, Rock Lake Associates, Switzerland, chairing the panel ‘India’s New Stars’

NS Bala, Chief Executive Manufacturing and Hi-Tech, Wipro, USA

Guna Mahalingam, Managing Partner, NMGInternational Financial Services, Switzerland

Vanitha Datla, Chairperson, CII Telangana State Council Thomas Bohn, Managing Director,Greater Geneva Berne Area

Sumit Jamuar, Chairman, Global Gene Corporation,Singapore

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Direc tor, Greater Geneva Berne Area,Switzerland. ‘India is growing – we arevery focused on doing business with India,’Jean-Philippe Devaux, Director, BernEconomic Development Agency, Switzer -land, concluded.

‘Many Swiss brands are household namesin India. I see vast opportunities for Swisscompanies to participate in our ‘Make inIndia’ mission. Swiss companies have theedge to succeed in India,’ Dinesh Joshi,Managing Director, SatyaGiri Shipping,India, said. ‘We want to liberalize tradeand engage with the Switzerland and allother dynamic economies of the world,’Nimish Kenia, Founder, HappyPlanetAmusement, India, added.

Bollywood has been using Switzerland asbackdrop for movies for the last fifty years.What’s new and what’s next in Bollywood?’asked Niraj Sharan, Chairman and ChiefExecutive Officer, Aura, USA. And how toposition Switzerland as global Bollywoodepicenter?’ added Karl Pilny, ManagingDirector, asia21gmbh, Switzerland.Bollywood’s love for beautiful Swissmountains and valleys and their mesmerizingviews have attracted film productionhouses. ‘Many celebrities and movie stars

spend their holidays and honeymoonswithin this beautiful region,’ explainedUrs Grimm, General Manager, Victoria-Jungfrau Grand Hotel & Spa, Switzerland.‘The Interlaken region is known as one ofthe most scenic natural film set in the world.Many Bollywood blockbusters have beenfilmed there,’ explained Sony Abraham,Director, Jungfrau Bahnen, Switzerland.

There is huge potential in green technologiesif India decides to turn climate change onits head and meet its energy challenge.Claude Béglé, Chairman, Symbioswiss,Switzerland, sensed that the world is onthe brink of the next industrial revolutionbased on renewables and India is potentially

Claude Béglé, Chairman, Symbioswiss

Pankaj Sharma, Chief Executive Officer,LeadInvent Technologies

Urs Grimm, General Manager,Victoria-Jungfrau Hotel

Jean-Philippe Devaux, Director, Bern Economic Development AgencyKarl Pilny, Managing Director, asia21gmbh,Switzerland

Niraj Sharan, Chairman, Aura, USA

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on the forefront of developing alternativesto hydrocarbons, especially wind, thermaland solar power which could be promisingsources of energy. Still, ‘India has beenlagging behind other nations in the use ofrenewable energy,’ voiced Ratul Puri,Chairman, Hindustan Power, India. ‘India’sneed to promote more widespread adoptionof renewable energy to help displace fossilpower generation and, in turn, limitgreenhouse gas emissions that accelerateclimate change,’ Pankaj Agarwal, ChiefExecutive Officer, PRM Power, Liechtensteinsaid. Sanjiv Lamba, Member of the Exe -cutive Board, Linde, Germany, proposedthat the Indian government can learn fromthe European experience of ecologicaldevelopment, implementing best practicesin India.

A special plenary focused on His HolinessSri Sri Ravi Shankar’s unique contribu -tion to societal well-being and inclusivegrowth. He was hosted by Lou Marinoff,Professor of Philosophy, The City College ofNew York, USA. Sri Sri Ravi Shankar hasfounded courses that provide techniquesand tools to live a deeper, more joyous life.He has established nonprofit organizationsthat recognize a common human identityabove the boundaries of race, nationalityand religion. His goal is to uplift peoplearound the globe, to reduce stress, and todevelop leaders so that human values canflourish in people and communities.‘Capitalism cannot survive withouthumanism – karma can help business leadersto reach their goals. We should hold on tohope and united, work together for a justand better world,’ said Sri Sri Ravi Shankar.

‘We should hold on to hope and united,work together for a just and better world’ Sri Sri Ravi Shankar

His Holiness Sri Sri Ravi Shankar

Lou Marinoff, Professor of Philosophy, The City College of New York

Sony Abraham, Director, Jungfrau Bahnen

Pankaj Agarwal, Chief ExecutiveOfficer, PRM Power, Liechtenstein

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Announcing the 2015 Indian Business Leadersof the Year, Horasis – together with ourstrategic partner PwC – celebrated fouroutstanding entrepreneurs who have beenbuilding and leading successful Indian firms:Ashish Chauhan, Chief Executive Officer,Bombay Stock Exchange; Praveen P Kadle,Chief Executive Officer, Tata Capital;Sunil Kant Munjal, Jt Managing Director,Hero MotoCorp; and Nasser Munjee,Chairman, DCB Bank. We recognized andhonour those business leaders as they excelin entrepreneurship, innovation and leader -ship. ‘The chosen leaders have decisivelyimpacted the economic development andglobal integration of India,’ said MukeshRajani, Partner, PwC, who announced theaward winners during a plenary session.

The closing plenary highlighted the recom -mendations and initiatives identified duringthe meeting and how progress can be madein the coming years. As a result, concretesuggestions were made on a variety ofsalient topics that will shape the future ofIndia’s economy and society, includinginvestment in infrastructure especially inrural areas, financial empowerment of thepoor and development of young talent.‘New partnership models for business,government and civil society can help India

‘India is a big country and the task – both for government and business –is huge’William Meaney, Chief Executive Officer, Iron Mountain, USA

Closing plenary – achieving inclusive growth

Mukesh Rajani, Partner, PwC, announcing the award winners Subodh Bhargava, Chairman, Tata Communications, speaking on the closing plenary

Ratul Puri, Chairman, Hindustan Power, India

Sanjiv Lamba, Member of theExecutive Board, Linde, Germany

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achieve greater equity through sustainablegrowth,’ pronounced Rajive Kaul, Chair -man, Nicco Group, India. William Meaney,Chief Executive Officer, Iron Mountain,USA, recognised that ‘India is a big countryand the task – both for government andbusiness – is huge.’ It will certainly needthe collaboration of central and localgovernment levels, industry and civil society.The question hanging over the meeting wasnot only how to deliver fast growth, but alsohow to deliver fast and inclusive growth –a promise made by Union Minister SureshPrabhu earlier on. ‘I leave convinced thatthere is a clear vision and grand plan movingforward,’ revealed Naushad Forbes,Director, Forbes Marshall, India. ‘If the

country adopts many of the ground-breaking ideas discussed at the HorasisIndia Meeting, it may become a true globaleconomic growth engine,’ concludedSubodh Bhargava, Chairman, TataCommunications, India. India certainlypossesses all of the qualities to position itselfat the very heart of the global economy.

The 2015 Horasis India Meeting waswrapped up during the gala dinner at theInterlaken Congress Centre, one of Europe’shistoric centres of dialogue. ‘The strategicpartnership with Switzerland is of greatimportance to India and one in which bothcountries are continuing to invest,’Chandrajit Banerjee, Director General,CII, told participants. Jean-PhilippeDevaux, Director, Bern Economic Deve -lopment Agency, Switzerland, said in hisclosing remarks that Interlaken exemplifiesthe spirit of dialogue and global economicgrowth. He commented that the HorasisIndia Meeting was witness to a largenumber of B2B meetings that will pave theway for Switzerland’s trade with India.

William Meaney, Chief Executive Officer, Iron Mountain, USA,reflecting on inclusive growth

The event gathered a collective audience of 300 entrepreneurs

Rajive Kaul, Chairman, Nicco Group, summarizing the Horasis India Meeting

Kishore Musale, Chairman,ASTARC

Lord Diljit Singh Rana,President, Andras House, United Kingdom

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The day after the event, participants wereinvited to join a guided tour to the HarderKulm, the local mountain of Interlaken.The scenic from the summit offered the bestbird’s-eye view of the Jungfrau region wheresome of Bollywood’s most famous movieswere shot. A typical Swiss mountaineers’lunch was served.

On behalf of Horasis, I would like to per -sonally thank Hans-Jürg Käser, Presi dentand State Councillor, Canton of Bern andDenis Grisel, Managing Director, BernEconomic Development Agency, whogenerously invited Horasis to hold the2015 Horasis India Meeting in the Canton.I thank CII and its Director GeneralChandrajit Banerjee for co-hosting themeeting. And I am grateful to our co-chairs,co-organizers, partners and participantsfor their leadership, guidance and support.This Horasis India Meeting was a uniqueexperience. It brought together leadingentrepreneurs and policy makers in orderto identify challenges, share experiencesand plan ways in which Horasis couldcontinue to make a difference.

I personally believe in a promising future forIndia. The country has all the ingredientsto become one of the world’s economic

powerhouses. And it is my hope that theHorasis India Meeting will continue to serveas an important platform for stimulatingthought and creative solutions. As you readthe key points and recommendationspresented in this report, we welcome your thoughts and suggestions as weprepare the programme for the nextHorasis India Meeting.

Dr. Frank-Jürgen RichterChairmanHorasis: The Global Visions Community

The active participation of government representatives underligned the extraordinary calibre of the event

Participants listening to the comments of the moderator

Fredmund Malik, Chairman,Malik Management Centrum,Switzerland

John B. Kidd, Research Fellow,Aston Business School

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Nobert Raschle, Partner, PwC, Switzerland

This year, Interlaken has hosted theHorasis India Meeting which has been anopportunity to highlight the strong eco -nomic ties between India and Switzerlandand the friendship between the people.

PwC were proud to be the Strategic Partnerfor this year’s Horasis event. We prideourselves on being at the forefront ofadvising clients who are entering the Indiamarket. At the event, some 300 businessleaders from all around the world met todiscuss the role of Indian firms in theglobal economy and to share their viewson various topics, including investmentstrategies, innovation and branding, hightechnology and entrepreneurship in India.

The Indian Business Leaders Awardsdistinguished and honoured four IndianLeaders who have contributed to the com -mu nity and demonstrated their leadershipand business acumen. With a sense ofstrong recognition, Urs Honegger, CEO,PwC Switzerland, joined Mukesh Rajani,Partner and Leader of the Indian BusinessGroup, PwC UK, to acknowledge andaward the 2015 Indian Business Leaders ofthe Year.

The awards were given to:

Ashish Chauhan, Chief Executive Officerat the Bombay Stock Exchange, which is thefirst stock exchange of India.

Praveen Kadle, Chief Executive Officerat Tata Capital. Tata Capital is Tata’s forayinto the financial services space coveringproducts and services ranging from retailand commercial lending, distribution andbroking, wealth management, investmentbanking and private equity.

Sunil Kant Munjal, Jt. Managing Directorof Hero MotoCorp Ltd. and Chairman ofHero Corporate Service Ltd. He is respon -sible for developing growth strategy andimplementation of new business plans forthe Group.

Nasser Munjee, Chairman of the Boardof Development Credit Bank Ltd, sinceAugust 2005. He has been a non-executivedirector since June 2005 and the Bank’snon-executive Chairman since August 2005.

Celebrating the 2015 IndianBusiness Leaders of the Year

Nasser Munjee, Chairman, DCB Bank – one of the IndianBusiness Leaders of the Year

Ashish Chauhan, CEO, Bombay Stock Exchange, receiving the award

Nobert Raschle, Partner, PwC

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The Indian Business Leaders of the Year

Participants gather prior to the opening reception

Sunil Kant Munjal, Jt Managing Director, Hero MotoCorp, with Urs Honegger, CEO Switzerland, PwC

Praveen P Kadle, CEO, Tata Capital, during his acceptance speech

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Business Standard, June 17, 2015

Spiritual guru Sri Sri Ravi Shankar willdeliver a lecture on ‘How Indian values andkarma can help business leaders attain theirgoals’ at the seventh Horasis Global Indiameet to be held in Switzerland next month.

Railway Minister Suresh Prabhu, SouthAfrica’s Minister of Cooperative Gover nanceand Traditional Affairs Pravin Gordhan,and Member of the European ParliamentNeena Gill will attend the meet.

Besides political leaders, 300 business andgovernment leaders from Australia, Belgium,Canada, France, Germany, India, Italy,Singapore, Slovenia, South Africa, Sweden,Switzerland, Thailand, UAE, Britain andthe US will also participate in the HorasisGlobal India meet to be held at Interlakenin Switzerland on July 5-6.

The corporate leaders from India includeBajaj Auto’s Rahul Bajaj, Hero MotoCorp’sSunil Kant Munjal, Tata Communication’sSubodh Bhargava, Cobra Beer’s KaranBilimoria, Religare Enterprises’ SunilGodhwani, Wockhardt’s Habil Khorakiwalaand CII’s Chandrajit Banerjee.

The meet is being co-hosted by Bern Econo -mic Development Agency and Confederationof Indian Industry (CII), while the All IndiaManagement Association (AIMA) andSwiss-Indian Chamber of Commerce areco-organizers.

The conference will review India’s newgovernment and its plans to re-engineerthe country on multiple fronts.

It will also look at how Switzerland can con -tribute to India’s next phase of economictransformation.

Ravishankar to speak in Switzerland on Indian Values

The event attracted the attention of the international media

Rahul Bajaj and Chandrajit Banerjee

Sri Sri Ravi Shankar and Lou Marinoff

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Panel ‘Developing Human Capital through Education’

Michael Escher, Chief CommercialOfficer, Meyer Burger Global AG,Switzerland

Arriving for the closing reception The Harder Kulm, Interlaken’s local mountain

A gathering of minds Panelists studying the programme

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In front of the hotel

A typical Swiss mountaineers’ lunch is served

Jodel music from Switzerland Guests enjoy traditional Swiss customs, with alphorns and flag throwing

The Horasis India Meeting was co-hosted by theCanton of Bern

Enjoying Switzerland’s original sounds and customs

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On the top of the mountain

Interlaken from above

Horasis: The Global Visions CommunityThurgauerstrasse 40CH-8050 ZurichSwitzerland

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www.horasis.org