The Indian Institute of Management (IIM) Rohtak hosted its first Mumbai management conclave on November 11. The purpose of the conclave was to augment the interface between academe and industry for the transformation of the business environment in India. Several industry stalwarts and top academics from IIMs participated in this conclave. The key discussion was around innovation and how it can help transform the business environment. More than 15 industry stalwarts and IIM faculties discussed how innovations can be fostered and commercialised successfully. Among the key invitees who spoke at the event were Sonali Dhawan, marketing director P&G, Prabhat Agarwal, CEO Alkem labs, Pia Shome, VP RBL bank; Pia Shome, VP, RBL Bank; Bal Mukand Singh, AVP-HR, HDFC Ergo, and Rajesh Dubey, President Alkem Labs among others. GST being an innovative tax reform was also discussed. Academics and industry stalwarts discussed how GST may help transform consumption behaviour, business environment, and investment in India. Prof Dheeraj Sharma, director, IIM-Rohtak said that “GST is an innovation. It is innovation in tax collection and governance. He said new changes in GST are likely to further stimulate consumer demand by cutting inflation, improve investment environment in India, and encourage better tax compliance among traders and small businesses.”
Overall, the summit was a major step toward developing an understanding of the role of innovation in business transformation and on GST. The students and faculty are likely to come up with a white paper on GST’s influence on business environment soon.
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