“The fundamental of Indian economy is very good. We have a huge population having great potential to become an economic power house in the South Asia,” Ratan Tata said at an inter-action session with young B-schools students organised by an English TV channel.
“We have intelligent human capital, and based on it, India would be really a country on the move, and the spirit of India’s vibrant and curious youth is going to drive the country to new heights,” said a positive-looking Ratan Tata.
Ratan Tata and the President and Chief Executive Officer of Starbucks Limited, Howard Shultz, were present in the show after they stitched a JV—“TATA-STARBUCKS LIMITED JOINT VENTURE”.
Advising the budding entrepreneurs on the value system of business, Shultz said his company was doing business in 60 countries and his company primarily selected like-minded people in business.
Stating that social consciousness still continues in the world with a deep sense of humanity, Shultz said building a company, in a way, is like a young child, inculcating right behaviour and values.
“If you don’t do that success will be short,” Shultz said while stressing on social responsibility.
“Social responsibility means not standing up at a press conference and announcing programmes. That is hype and marketing. It (CSR) should come from your heart. So people would believe the company what it stands for,” Shultz said.
Feeling proud about the JV with STARBUCKS LIMITED and committing to giving customers richness in this partnership, Ratan Tata corroborated Shultz’s views saying the Tata company has also lived by that mandate (humanity) over the years, making humanity a partner in business DNA and cultural DNA.
“All stakeholders live by such values. DNA should be set up at the top. The mantra is how to deal with it, complying with your value system,” said Ratan Tata.
Terming legislations to wake up social consciousness sad and not right, Ratan Tata said social responsibility should come voluntarily.
Giving an example on his social acumen, Ratan Tata recalled how he stood up against the Hindu-Muslim riots in Mumbai a few years ago.
“Thereafter I turned witness during the Sri Krishna Commission investigation and stayed for five hours in the witness box. “We have to stand up. If it is right to stay quiet, it is right to stay quiet, and if it is right to speak out, it is right to speak out,” observed Ratan Tata.
On his part, Shultz said the rule of engagement of a company had changed and there was a need to change, because governments could not do everything.
“Business leaders should take responsibility and take more social responsibility,” Shultz said and preferred common beliefs and values and money should not be everything.
Echoing Shultz’s statement, Tata advised motivation for jobs should not be money, because when you get up in the morning you should feel joy to go for work, and not having three jobs to make money.
On the rampant corruption prevailing across the country, Tata advocated that more people should stand up and fight against corruption.
“I definitely feel that endorsing corruption is against ethics. And we fought against that. It is great to go to bed at night feeling that we did not succumb to pressures (of corruption). And we have grown well,” he said.