We should be taught not to wait for inspiration

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					“We should be taught not to wait for inspiration to
start a thing. Action always generates inspiration.
       Inspiration seldom generates action.”




                      SPANDAN

                AN IIFT CLUBS’ INITIATIVE
                                    SEPTEMBER 2006


                                                                                How Team Work
                                                                               pepped up the IT
 Editor’s Word                                                                   Symposium

 Mission Accomplished : The IIFT NASSCOM National IT Symposium
 Acclaim and Accolades : The IT Symposium in Perspective
 Coordinator Sentiments : Nitish Jain’s feelings after the Symposium
 Koshish Concerns : Why Slum Dwellers pay more than you and me?
                                                                                   The Pasha of
 Brandwagon Buzz : IIFT-Becton Dickinson Case Study
                                                                                   Procurement
 Victory Verse : The Trade Conclave
                                                                                      Speaks
 Blash Blitz : Going Bananas!
 Systemix : Interaction with TCS on Agilent-TCS engagement
 Cashonova Czars : Investment Banking Update
 The Forum : Move towards Fuller Capital Account Convertibility
 Blash Summers : “The Rustic Farmer” that dwells within Piyush Singh
 Readers’ Reviews : What readers have to say…
 Photoshop : IIFT NASSCOM NATIONAL IT SYMPOSIUM




 Next issue of Spandan is due on 9th of October, 2006.
 Focus Clubs will be Brandwagon and Quintessential
 All responses / criticisms and suggestions can be mailed at : mrvishwaskhanna@gmail.com.
Ph. : +91 98682-58943




                                                                                             2
               EDITOR’S WORD                    The Trade Conclave was also a luminous
                                                affair, though internal in its scope.         The
“Success is not the result of spontaneous       topical   nature     of   the    conclave     was
 combustion. You must set yourself on           applauded by all speakers alike.              The
                   fire.”                       finesse with which it was managed, despite
                                                certain time scheduling issues due to
August has been a month of frantic activity     delayed flights, speaks volumes of the
and don’t be surprised if you find that this    managerial abilities of Blash as well as the
issue is late by a few days, though we          IMF.
intend to be firm with the promised release
date.                                           The other Clubs were also actively engaged
                                                in the fulfilment of their stated objectives.
At the outset, we must congratulate the
members of the IIFT Family, in particular       Brandwagon must be congratulated for very
the organizing teams of the “IIFT NASSCOM       successfully steering the RB Case Study.
NATIONAL IT SYMPOSIUM” and “TRADE               We wish the winners the very best for the
CONCLAVE”, and especially the efforts put       final round.
in by the coordinators of Systemix and
Blash.                                          Cashonova Meetings were as illuminating as
                                                always, their aura accentuated by the Club
Months of preparation and “sweat, blood,        becoming, probably for the first time in its
tears and toil”, have finally borne result.     history, the Club with the maximum
Endless phone calls, sleepless nights and       membership of the Junior batch.
torturous   preparations    later,   both the
landmark events of the year have turned         However,       our   success    must    not   be
out to be successful ventures.                  allowed to force us into complacency. In
                                                the Readers’ Review we will come across
The IT Symposium saw the who’s who of           scathing remarks by our own colleagues
the IT industry descend on the IIFT campus.     regarding where we could have proven our
The IT Symposium served as a fertile, and       motto “Where excellence is a way of
interactive, ground for the speakers to         life” more substantially. It is hoped that
voice their opinions and concerns about the     the Clubs take the criticisms positively and
issues at hand and for the audience to          constructively.
understand the complexities of the Indian
IT scenario.                                    The Clubs too have a right in demanding
                                                greater    participation       from    both   the
                                                batches, especially the Junior Batch, given



                                                                                               3
that it is imperative for them to be exposed              Here’s wishing the Clubs all the success!
to the dynamics of event organization to                  Make us proud!
equip them for the next year when they
take control of the Club proceedings.
                                                          Vishwas Khanna, MBA ( IB) 2005-07, IIFT is
The   level      of    junior     participation    for    the Founder – Editor of Spandan. He is a
preparation of Spandan has also gone up.                  Commerce Graduate from SRCC and has
Several insightful write ups have been                    recently completed his CS Finals.
contributed by the junior batch for this
edition.        However, the inputs of the
Kolkata batch are awaited. We hope that                             MANAGEMENT GOOFS
the   next       issue     will     contain       their
contributions.


I must also reiterate that Spandan is low on
manpower ( womanpower included ) and
could do with more participation of the
juniors    in    the    editorial    and   collating
functions.


Ah! Forgot to mention the exclusive scoop
of this month : The Piyush Singh update on
his summer project!




Serious Talks : Piyush Singh ( R ) with
BLASH Coordinator Pratik Vora.




                                                                                                  4
           MISSION ACCOMPLISHED                        Government     of India,   Department     of
     IIFT NASSCOM National IT Symposium                Information Technology. He released the
                                                       White Paper on the occasion and also spoke
The IT and ITeS industry in India has come             about how the IT-ITeS industry had been a
a long way since in its inception in the               major source of sustainable employment
latter decades of the twentieth century. It            and GDP growth. He opined that the
has become a force to reckon with and                  industry could see greater growth by
contributes significantly to India’s GDP,              stimulating IT demand and usage.
foreign exchange inflows and employment.
Keeping in mind the potential of the IT-ITeS           The theme for the first session was
sector and the challenges that it faces,               “Challenges for IT-ITeS Firms to Sustain
Indian Institute of Foreign Trade (IIFT) in            their Global Competiteveness”. Though
collaboration with NASSCOM organized the               without doubt the Indian IT industry is
                        st
IT Symposium on 21 August 2006.                        expected to grow at an even faster rate,
                                                       the challenges facing the industry are
Mr. Prabir Sengupta, Director General,                 many. Mr. Ganesh Natarajan, Deputy CMD,
IIFT delivered the Inaugural Speech. While             Zensar Technologies Limited stressed that
focusing on the many positives associated              by focusing on innovations the industry will
with the IT industry, Mr. Sengupta also                be able to deal with these challenges. Both
enumerated the challenges faced by it such             Mr. Baru S. Rao (CEO, Capgemini India) and
as     greater   need        for   expenditure   on    Mr. Kamal Maheshwari (CEO, Birlasoft)
research and development, need for broad               concurred that one of the major challenges
basing     of    manpower          profile,   better   would be maintaining the skilled employee
infrastructure to deal with Intellectual               base and adding to the talent pool and also
Property Rights.                                       maintaining the low cost of operations. Mr.
                                                       G S Krishnamoorthy, COO, US Technology
The Keynote Speaker was Mr. Kiran Karnik,              Resources, India was of the opinion that by
President, NASSCOM. He also spoke of the               adding value to consumer services and
great potential of the industry and how by             exploring new service lines, the IT industry
just tackling the HR and infrastructure                could progress even further and faster.
crunch the sector could grow even further.
He said that by focusing on the engineering            The   post   lunch   session   dealt   with
services    segment          and   innovations   the   “Domestic IT market – the Road Ahead.”
sector could witness even greater growth.              The speakers for this half of the session
                                                       were Mr. Ajai Chowdhary (Chairman and
The Guest of Honour for the function was               CEO, HCL Infosystems), Mr. Bharat Goenka
Shri       Jainder           Singh,      Secretary,    ( MD, Tally Solutions Pvt Ltd), Mr. Tanmoy



                                                                                                 5
Chakrabarty, VP and Head of the Global             The enthusiasm of the audience and the
Government Industry Group, TCS Ltd. ) and          indepth knowledge of the speakers made
Mr. Rajdeep Saharawat (Vice President,             these sessions a delightful experience.
NASSCOM) . They largely discussed issues
such as potential of domestic IT market and        Spandan thanks Ms Sheersha Ganguly,
how the IT industry could be of assistance         MBA (IB) 2006-08, IIFT for her inputs for
to the domestic firms, particularly the SME        this update.
sector. Development of the domestic IT
market should not be neglected because             Students may contact Systemix for the
there is only so much that one can depend          folder of photographs of the event.
on foreign markets.


The concluding session of the day was
based on “Issues and Challenges for
Global      IT-ITeS       Managers:        HR’s
Perspective”. The distinguished speakers
for   the    event      were     Mr.   Satish
Venkatachaliah, VP, HR, SAP Labs India ;
Ms. Binoo Wadhwa, Director of people
Success, Sapient ; Mr. Prashant Sankaran,
CEO, Blueshift; and Mr. Sunil Pathak,
Country Compensation Manager, Agilent
Technologies. Acknowledging that the HR
aspect of the IT-ITeS industry need to be
strengthened, the speakers spoke at length
about the what they thought would be the
focus areas for growth and change in the
next few years – global sourcing, consumer
IT, IT automation, business reconfiguration,
communications,       electronics,   and    life
sciences and analysis. The major challenge
within HR is to reverse the attrition rates
and tackle career and growth challenges.


The sessions were highly interactive in
nature with the audience being allowed to
pose questions directly to the speakers.



                                                                                             6
         ACCLAIM & ACCOLADES!                   “Well organized. Good range of topics.
                                                Good audience.”
SPEAKERS SAY
                                                Mr. Prashant Sankaran, CEO, Blueshift
“Excellent     Organisation,    follow    up,
logistics and Hospitality… for the morning      “Good      industry        participation.       Please
session rather than 4 presentations, it         organize    more      of    these   sessions      and
could have been better if it was a panel        increase student/faculty interaction.”
discussion.”
                                                Mr. Kamal Mansharamani, CEO, Birlasoft
Mr. Baru S. Rao, CEO, Capgemini India
                                                “The topic was very relevant in the present
“Excellent selection and panelists. The         contest and I hope we were able to provide
coverage of topics was well chosen and had      some    good     thinking        points     to    the
the right set of people to address it. The      audience.”
administrative setup was excellent.”
                                                Ms. Jayantika Dave, Director - HR, India
Mr. Satish Venkatachaliah                       Operations, Agilent Technologies
VP- HR, SAP Labs India
                                                FACULTY SPEAK
“The theme chosen was very appropriate.
The industry participation could be better.     “Good      Team        Systemix.          You     are
Hospitality and care was great.”                systematic.”


Mr. G S Krishnamoorthy                          Dr. K. Rangarajan
COO, US Technology Resources, India             Professor, Programme Director & Head,
                                                Centre for SME Studies, IIFT
“Great   Speakers.    Good     Agenda.   Very
participative audience. Overall a very good     ALUMNI VIEWPOINT
experience.”
                                                “This is very impressive. Keep it up.”
Ms. Binoo Wadhwa
Director - People Success                       Kapol Tandon
Sapient Corporation, India                      Regional Director - Business Development
                                                HCL Technologies America Inc.




                                                                                                    7
           COORDINATOR SENTIMENTS                    We had 7 CEO's coming as guest speakers
                                                     from Bombay,Chennai,Bangalore and delhi.
Following is an extract of the email                 The details of symposium were mentioned
written to the Senior Batch by Nitish Jain           on NASSCOM and Capgemini india website.
after   the     IT    Symposium   came    to    a    First Symposium at IIFT to get a Corporate
successful close. You can almost feel the            Sponsor .(Though not a huge sum but still a
palpable joy of achievement and the                  beginning...)
pensiveness          that   accompanies        the
completion of a cherished task:                      All this would not have been possible
                                                     without support of our batch. Let me not
                                                     miss this opportunity to highlight the

“Hi all,                                             contribution of our batchmates and thank
                                                     them for their contribution.

Congrats       to    everyone   for   successful
completion of IIFT NASSCOM National IT               Truly Aapka Varun :- The guy worked for it
Symposium.                                           in scorching heat of delhi when we were
                                                     enjoying our summers and despite people
The symposium has many new initiaves to              saying him why are u doing it in the first
its credit:-                                         place ? He gelled with CPA and his PA( both
                                                     65) so beautifully that CPA used to often
The actual preparation was done when we              say me "You are not as sincere as Varun
were in summers so we would call it a                was..."We all owe initial momentum to
perfect case of "Onsite-Offshore Model".             him..


First Symposium at IIFT to boast of having           Rakesh Ranjan :- I don't know how many
a website. This definitely helped increase           trips he made between IIFT and NASSCOM
visibility of our initiatives. We received           and that too in summers. On final day also,
calls of our alumni from Infy, Switzerland           was very meticulous with backstage .Was
and HCL America appreciating the event.              really our thinktank..


We received a written feedback from                  Renjith Gopalkrishnan :- For providing his
nearly all our speakers. This would help us          vast    contacts   and    above     all   getting
make our other initiatives better and                sponsorship from USTECH..
would definitely help junior batch to
organise these symposiums in a more                  Prasun Jain :- For his sleepless nights in
professional way.                                    getting    delegate      kits,    banners    and
                                                     backdrops done..



                                                                                                    8
Soumya Ranjan patel :- For his efforts in          just mentioning IT symposium in the search
giving      visibility    to    Symposium    and   option.
arranging all logistics at the final day..
                                                   Cheetah "Pawan" :- Was very instrumental
Rahul Biswas :- For his great concern for          in getting student delegates from other B-
the symposium.. Really was very prompt             schools..
and elaborative in replying to mails that
we exchanged during summers when we all            Tanaya Chaturvedi :- Her bargaining skills
were clueless how things would take                helped us get the best deal for gifts for
shape....                                          the corporates..really she is excellent at
                                                   it..
Deepak Veenugopal              :- Helped spread
message among our alumni..it helped we             Deepa G :- Who got one of our speakers
received      few    as   delegates   ,we   even   confirmed from her personal contacts and
receicved appreciation mails and calls for         that was the first one we could hit
them..                                             upon...really helped us in getting other
                                                   confirmed..
Vaibhav mathur :- For arranging the
complete White Paper show in highly                Piyush Singh :- For helping us in mailer
structured and transparent way. It was             campaigns        and   sending   couriers   to
because of his efforts that we could get 25        prospective companies..
entries for an Internal event and out of
them 12 were from senior batch.                    Akshat :- For arranging contacts of nearly
                                                   all    IT/ITeS   companies   that   could   be
Tejas :- Was exactly like chief Strategist.        targeted for delegates/speakers.
Used to motivate me when sometimes I felt
too bored of calling speakers and sending          Prasenjit Sarkar :- For writing content for
them mails.                                        the brochure, editing of final white paper
                                                   and write up for regular updates on
My Fundu roomy "Wicked VK" :- For                  CoolAvenues..
writing and editing all my mails and
documents at a very short notice.                  Anoop Sadani :- For constantly guiding me
                                                   and giving his invaluable suggestions..
Bhai Kaza "Kanishka" :- Was really online
marketing director for us..it was because          Sometimes I feel my roomies-loomies were
of his vast online presence that our               correct when they used to say "Abe tu
symposium was the first link on google by



                                                                                               9
khud bhi kuch kar raha hai".. Really a
great learning experience for me..


I also thank all those who gave contacts in
companies, participants of white-paper
contest,   escorts    of   the   speakers   all
compares of the symposium, and attendees
of the symposium ..


You all must be bogged by so many mails
regarding the symposium..am sure this is
the last one..


Thanks and Regards,
Nitish Jain




Spandan thanks Nitish for sending us a
copy of the heartfelt letter he wrote to
the Batch.       Being the roomy to this
wonderful guy certainly helps get the Club
Magazine going with great content!


The erstwhile roomies and loomies of
Nitish Jain were : Pratik Vora, Tejas
Mehta, Pawan Kumar, Kanishka Chowdhary
and Vishwas Khanna ( current roomy ).




                                                  10
           KOSHISH CONCERNS                            is around Rs. 2000 – 3000 with the
                                                       population comprising primarily of Hindus
 WHY SLUM DWELLERS PAY MORE THAN                       and     Muslims     both     with    a        sizeable
                YOU AND ME                             proportion.


Did you know that more than 50% of
                                                       WHAT, HOW MUCH AND WHY?
children in slums go to private schools and
take tuitions too? That credit is at a rate
                                                       WATER: The first thing that hits you here is
of interest which is ten times of what we
                                                       the multitude of water storage equipment.
pay?
                                                       Pots, small tanks and plastic containers are
                                                       a ubiquitous presence. The only sources of
Life in the slums, we all know, is not easy.
                                                       water are bore wells and pipes. Drinking
But how many of us would have thought it
                                                       water is a prized commodity, available only
was expensive too. Sounds unbelievable,
                                                       on alternate days through government
but it was found that residents of the
                                                       tankers, and that too only a measly 2-3 pot
largest slum in Asia, Dharavi were paying
                                                       per family.
more for many basic services than their
counterparts       in      better        localities.
                                                       Scarcity means economics and market
Renowned management guru C.K. Prahalad
                                                       forces come into play. Tanker drivers (Rs
called this paradox a “poverty premium”
                                                       20-40) are bribed to ensure that they stop
in his path-breaking book “The Fortune at
                                                       and additional bribes paid to ensure first
the Bottom of the Pyramid” and observed
                                                       usage. (Rs 10-15). Two three pots of water
that it is a universal phenomenon.
                                                       every two days for families which have on
                                                       an     average     5-6    members        is    grossly
                                                       insufficient.     So to cater to this demand,
AREA DESCRIPTION
                                                       some clever people sell their water at Rs 1
                                                       for two small pots.
Indirammanagar is a huge slum settlement
in the locality of Rasoolpura, adjacent to             Opportunity cost due to the water woes is
the Hyderabad airport. The area is totally             huge. An average waiting time of half an
illegal with the cantonment board holding              hour    and     daily    queues,    water       borne
property rights.        The slums though have          diseases, bribes paid are just some of the
been   almost    regularized        in   that   the    problems. Some families don’t send their
government      provides       power       through     children to school so that they can assist in
meters,   houses        have   been       assigned     filling water!! For maybe a hundred rupees
numbers and water is supplied through                  more lakhs in the city do not have to go
pipes. The average income in this dwelling             through the ordeals listed above.


                                                                                                          11
CREDIT - While the rich run for cover from      HEALTH - No ambulance facilities and a
overzealous retail banks hounding them          government health centre that the slum
with unbelievably cheap banking options         dwellers have not heard about.        Private
the poor slum dweller’s bank is the local       Doctors with small clinics, limited facilities
moneylender and the instrument of credit        and doubtful credentials are the only
called “daily finance”.                         option left for these slum dwellers. The
                                                biggest indictment is the lack of any kind of
Imagine asking for a loan of a thousand
                                                health support for the huge high-risk
rupees, getting 850 only and then having to
                                                population by the government by means of
repay the thousand rupees in about three
                                                a functional health care centre.
months at a rate ten times that of a normal
bank!! 80% of Indirammanagar does not
have a bank account.



EDUCATION – Satyamma, a housemaid
sends both her kids to private school, and
she is not alone in spurning the lesser
substitute i.e. government schools with
woeful infrastructure.


The local high school has no furniture,
                                                SANITATION AND HOUSING: The slums
toilets, compound wall and faces a severe
                                                have a very rudimentary drain system.
lack of teachers.    This has resulted in an
                                                Each house has a septic tank that filters the
extremely   low     pass   percentage   rate,
                                                sewerage and lets it into the main road
dropouts and lack of functional learning.
                                                open drains. These drains overflow almost
Thus it is not too surprising to note that
                                                every month and water enters into homes.
60% children go to private schools even in
                                                The residents have to pay for cleaning the
such a poor area.
                                                drains (Rs 400) and also for maintaining
                                                them.   The “safai karamcharis” are very
A virtual hand –to-mouth existence does
                                                irregular and the area is full of rubbish at
not stand in the way of parents wanting
                                                various points.
their kids to have the best education they
can afford, and hence the preference for
private schools.    Interestingly the tuition
                                                It is very interesting to note how land deals
culture seems to have pervaded the slums
                                                take place in the slums. The local “leader”
too.
                                                makes a 10% cut in every land transaction



                                                                                           12
from both the           seller and buyer            as   Prahalad is a fact of life, at least in the
property rights are undefined and is based               slums of Rasoolpura, Hyderabad.
on occupancy by force and his word
provides the much needed legitimacy to
the deal.                                                Spandan thanks Mr Shitiz Modi, MBA ( IB

CONCLUSION                                               ) 2006-08, IIFT, for this article. This work
                                                         is derived from his actual experiences from
                                                         a project undertaken in the slums.
Any service that we have analyzed does not
hold a candle to anything that the middle                Koshish too thanks him for his endeavor
class is privileged with.                But what is     and the detailed write up.
interesting to note is that in cases like
credit, sanitation the slum dwellers pay
more for lesser. Water might be officially
“free” but not when you factor in all the
additional costs, implicit and explicit.
Government apathy means that it is the
private schools who flourish while those
who cannot afford them are left behind in
the race.



What the survey showed was that:

   The     urban      poor        are   increasingly
    paying more for less.

   Slums      are    provided       with      abysmal
    services     in    the     name       of    “free”
    provision,        due     to     little    or   no
    accountability and a poor resource base
    of infrastructure.



The poor do incur costs, qualitative or
quantitative, a function of the high cost
and illegal eco-systems they reside in.
Poverty premium, as predicted by C.K




                                                                                                  13
            BRANDWAGON BUZZ
                                                  A dialogue with the BD team who discussed
 BECTON DICKINSON CASE STUDY AT IIFT              the      case     at        length    followed        the
                                                  presentations made by the students. The
Becton Dickinson & Company (BD) - a U.S           case provided a good understanding of the
based Fortune 500 medical technology              marketing models followed by different
company in association with the marketing         businesses and presented an opportunity to
club of IIFT – ‘Brandwagon’ launched a            apply theoretical knowledge to real-life
case study on 17th July 2006, which               situations.      The takeaways were exposure
culminated in the final presentation on           to the medical devices sector, knowledge
25th July ‘06. The case study launched            on    distribution          models        and    channel
drew enthusiastic participation with a total      selection and an opportunity to interact
of 12 teams partaking in the competition.         with business leaders of great vision and
                                                  problem-solving capability.
Based on the evaluation done by two
members of the IIFT faculty, the top 5            The successful completion of the event is a
entries were selected for presentation to         testimony        of      business         acumen      and
the BD team. Rajnish Rahtogi (Head, BD            eagerness        of    IIFTians      to    go    beyond
Medical), Ravi Sharma (Business Manager,          academics. We at IIFT look forward to
BD   Diabetes     Care)   and     Asmita    Sen   similar events in the coming days with
(Manager,   HR)    formed   the     panel   for   gusto.
adjudging the top 2 entries. The first prize
was won by Nagraj H. and Surbhi Panami
while the second prize went to Pushpanjali        Spandan         thanks      Brandwagon          for   this
Kumar, Manuj Arora and Ahinav Parihar.            initiative and Mr Prasenjit Sarkar and Ms
                                                  Shivani Malhotra, MBA ( IB ) 2005-07, IIFT
The case revolved around the problem              for their inputs for this article.
faced by medical device company - Best
Devices, during its nascent days in India.        Students interested in finding out more
Sensing the lucrative business environment,       about case presentations can catch up with
it adopted a hard-sell approach that led to       Brandwagon Coordinators.
overstocking and subsequent clogging in
the distribution channel. Consequently,           For   purposes         of     information,        Abhay,
reorganization     was      required.       The   Shivani, Prasenjit, Abhijeet ( Tatelu ) and
deliverables of the case study were to            Aniket did their summers with BD.
review the “Go-to-Market” and to identify
key success factors for the sales team.



                                                                                                         14
               TRADE CONCLAVE                                         Sector”.     The panel was composed of
                                                                      distinguished speakers from STC, Rabo India
“Commercialisation of Agriculture : From                              Finance and National Spot Exchange for
               Mandis to Markets”                                     Agricultural Produce.      The session was
                                                                      moderated by Shri Pankaj Vajpayee, VP,
The Trade Conclave, a meeting of minds of                             ValueResearch, and Senior Faculty at IIFT.
top professionals, government officials and
students      of       IIFT,        one    of        the    most      Mr Arvind Pandalai, Chairman and MD,
prestigious        B    Schools           of     India,         was   STC, brought out the major issues that
                                           st
successfully concluded on 31 August at the                            challenge the farmers today – from crop
splendid IIFT Campus at New Delhi.                                    failures to lack of irrigation facilities and
                                                                      from inadequate insurance services to lack
The    session         began        with        an     inaugural      of proper price realization for the farmer
address by Shri Prabir Sengupta, Director                             due to market imperfections.
General, IIFT, wherein he outlined the
radical changes which are visible in the                              Mr Rajesh Shrivastava, MD, Rabo India
agricultural sector today.                 He also put in             Finance, clearly brought out the lucrative
perspective his vision for the agricultural                           opportunity that exists today in India for
sector, given WTO’s stance on it.                                     the banks to explore the vast potential in
                                                                      the agriculture sector. He highlighted the
The    Keynote          Speaker           was        Shri   P    H    model followed by Rabo India in delivering
Ravikumar,             CEO      and        MD,         National       a   unique   proposition   and   customised
Commodities and Derivatives Exchange                                  products to the agriculture community.
Ltd.   His address was an eclectic mix of
experience         and         wisdom:           From           the   Mr Anjani Sinha, CEO, NSEAP, pointed out
grassroots     issues          of    farmers          who       are   the fact that in spite of being a leading
increasingly becoming “smart”, much to                                producer      in    various      agricultural
the distress of their traditional exploiters,                         commodities, we are witnessing events like
and much to the relief of a resurgent                                 suicides by farmers. According to him, this
economy, to the stiffly fought wars in                                is largely due to regulatory mechanism
corporate boardrooms to take a defining                               framed by the government and issues like
stake in this new growth driver of the                                APMC act, etc.
economy, Mr Ravikumar’s insights on the
issue were both relevant and visionary.


Session One’s central theme was : “Growth
and Opportunities in the Agricultural



                                                                                                                15
SESSION 2 : FROM AGRICULTURE TO AGRI                          supply     chain    is    crucial      to     successful
                      BUSINESSES                              agricultural operations. He highlighted the
                                                              fact that too many intermediaries in the
Session 2 of the Trade Conclave saw yet                       supply chain cause loss in value of the
another distinguished group of panelists,                     product, and thus, vertical as well as
which included:                                               horizontal integration of the supply chain is
                                                              a must.
          Mr.        Madhusudan        Manvi,         VP,
           Reliance          Retail,      Agribusiness        Mr. Seth addressed the audience about the
           Division                                           “Prospects of Agri-retailing and food
          Mr.         S.K.Sharma,            Executive       processing industry”. Mr. Seth familiarized
           Director, Global Agri Systems                      the addressees with PepsiCo’s model of
          Mr.    Abhiram         Seth,       Executive       contract     farming,         which    started     with
           Director,      Exports       and     External      potatoes, and their latest Seaweed project,
           Affairs, PepsiCo India                             which      has     provided      them       with    the

          Mr. Sanjay Sacheti, Manager, Olam                  ingredient to produce “vegetarian jelly”, as

           Exports (India) Ltd.                               well as a liquid plant growth nutrient.


The session was moderated by Mr. Sanjay                       Mr.       Sacheti         spoke        about        the

Sacheti.                                                      “Attractiveness          of    India    for     various
                                                              Multinational Agro-Trading firms”. Mr.

Mr. Manvi started with a positive note on                     Sacheti acknowledged the fact that the

the Indian agricultural scenario. He spoke                    agro-trading sector could in no way be

on       the      “Emergence             of          Indian   referred to as a “Sunrise Sector”, and was

Agribusinesses”. Mr. Manvi then moved on                      swamped by a number of inefficiencies.

to some of the major problems in the
sector that are to be overcome in order to                    It was indeed an enriching experience for

take Indian agriculture to newer and                          all those who had the privilege of attending

greater heights. He kept the audience                         the Conclave.

engaged        with    the     possible       new      age
solutions        being         looked         into      by
agribusinesses,         like    Reliance’s       unique       Spandan thanks BLASH for this delayed but
concept of developing Rural Business Hubs.                    very impressive article.


Mr. Sharma dealt with the “Consolidation
of Agricultural Supply Chain”. Mr. Sharma
rightly pointed out that optimization of the



                                                                                                                   16
                  BLASH BLITZ                        and MSAMB. There were some packaging
                                                     issues. Though the bananas could not
     Going Bananas : The new definition of           compete with the quality of Chiquita and
                 veggie market!!                     Del Monte but with some more efforts and
                                                     improvement they could make a mark.
The     export    market     is   moving      from
traditional      to    non-traditional.     What
ramifications does this scenario have for
Indian exporters?


The dynamism of business landscape is
leaving many eye-brows raised. We never
thought that the marketers will visualize a
market in Indian villages and our very own
sabzi wallah will be using a mobile phone
                                                     Mahabanana is very well speaking about the
to enquire about the current mandi rates.
                                                     opportunity that lies ahead for Indian
The required urge to stand out of the
                                                     exports   of   non-traditional      fruits   and
clutter is making the corporates look into
                                                     vegetables and India’s ability to take head
new channels and markets through which
                                                     on the major dominant exporters like South
profits can flow in.
                                                     African countries.

The article will talk about the changing
                                                     The first thought that will cross our minds
scene of non-traditional vegetable export
                                                     is what does non-traditional fruits and
market and what is the potential for Indian
                                                     vegetables market entail? By our definition,
Banana in European market.
                                                     non-traditional fresh produce includes all
                                                     the fruits and vegetables which do not
“Mahabanana getting fame in Dubai”
                                                     traditionally form a major part of Indian
                                                     export basket but holds the potential to do
The planning for this shipment was made
                                                     so in the near future. This potential can be
very     early    with     the    formation     of
                                                     in terms of India’s ability to produce these
“Mahabanana”. This novel concept of
                                                     at a lower price and maintain a consistent
integrating all banana cooperative societies
                                                     supply through out thus exporting them to
of     Maharashtra     comprising   of     banana
                                                     markets like Europe, Japan, Middle East
growers of the region under a common
                                                     and   South-East     Asia   where    they    are
federation Mahabanana was initiated in
                                                     produced at higher costs or not produced at
2001 by MSAMB. Attractive boxes had been
                                                     all in some seasons due to extremities of
prepared bearing the name of Maha Banana
                                                     weather these countries face. For ex- Snow


                                                                                                  17
Peas which are majorly exported to Europe     Ecuador, Costa Rica, Colombia, Honduras,
from South Africa can be produced even in     the Philippines, Panama and Guatemala.
India at a lower cost and in seasons when     The Latin American countries account for
Europe can not produce them. Does this        about three quarter of world banana
give us a reason enough to look at this       exporters to the Europe. Also large banana
market? The total world trade in non-         producing belts of Australia have been
traditional fruits and vegetables is worth    destroyed by storm. This gives India an
US$15.5 billion. The developing countries'    opportunity     to     call    the     experts     from
combined share of non-traditional fruit and   Australia     and      learn     the     pre-harvest
vegetable exports increased to 56 percent.    technologies         which     are      our        major
That is a huge market opportunity.            drawback. Also Preharvest research on
                                              bananas is being done on a large scale in
Why do these bananas taste good to            Nausari       and     Madurai.        Post    harvest
Indian exporters?                             management is not that difficult and can
                                              be easily learnt.
Mr Raja Ram Sangle, Director, Alcomp
Systems quotes “the opportunities in this     Since the late 1970s dramatic economic
field are so vast that we have already sent   changes       have     taken         place    in     the
researchers to Philippines and Europe to      agricultural sector in various parts of
pursue the further research on banana         Africa. The introduction of new export
markets.”                                     crops, such as snow peas, broccoli, and
                                              miniature      vegetables,      has     led   to     yet
EU has adopted a tariff only regime which     another agro-export boom.
puts the dollar countries and the ACPs
(group of former European colonies) in a      Evolution is yet to spread its wings
loss compared to before. There are lot of
issues coming up regarding residues and       We talk about changing business dynamics.
poor labor treatment of the giants.           In context of banana marketing the change
                                              has definitely come. Let us have a look at
In the tropical and subtropical regions of    how the banana marketing chain has
the world, about 40 million tones of          evolved over time.
bananas are produced every year. Over 80%
of the world’s banana production consists     Until the seventies transnational banana
of plantains. Brazil, China, India and        corporations were present at every stage of
Thailand are major banana growers without     the banana marketing chain, from growing
any appreciable exports. The principal        to    final      consumers.           They       owned
exporting countries on the other hand are     plantations, transport infrastructures and



                                                                                                   18
ripening facilities. However, in the last 20    The banana giant exporters are already
years there has been a move away of             facing high chemical issues and hence,
multinationals from direct growing in order     products like organics will pay off in this
to focus on more specific marketing and         field. Also, there are issues regarding low
distribution activities. Multinationals tend    wages    to   labours    and    poor   working
now to establish long term supply contracts     conditions. A whole new market by the
with independent local banana growers,          name of fair trade has evolved to look into
specifying shapes, quantities, standards of     this matter. India stands a chance in this
quality, packaging and so on. In many cases     emerging space.
multinationals also provide inputs in order
to control the quality.                         Red bananas which can be produced in
                                                India at low cost are new export potential
After looking into who are our competitors      bananas which have a great demand in
the next thing is to figure out the market      Europe. People in Europe are now fed up of
for our banana lovers.                          big bananas and are demanding the smaller
                                                varieties. India should cash upon this
European Union                                  opportunity by switching to varieties like
                                                Robusta.
EU is the second largest buyer of banana
after US. 7 billion bananas are eaten each      The new beginning!
year in the UK — that’s 10kg per person
each year. Supermarkets in the UK are           Studying the business models of companies
enormously powerful with the four largest       like Namdhari Fresh, Bharti field fresh,
— Tesco, Asda-Walmart, Sainsburys and           Mahyco seven star and several exporters
Morrisons — controlling 75% of the market.      like    Ranjan   Kedia    who     have   been
The   biggest    importers   among   the   EU   aggressively framing out strategies for
countries       are   Germany,       Belgium,   export of non-traditionals we have tried to
Luxembourg, UK, Italy and France with a         give a business model which inculcates the
combined import volume comprising 80%           strengths of all these models. It is to be
share of total EY imports.                      noted that no Indian firm is presently into
                                                Banana exports and hence the inputs in the
Setting up field for Indian exporters           model are taken from the models that have
Talking about the roadmap that India            been established for other non-traditionals.
should follow to get a foothold in this         Inputs have also been taken from the five
market let us talk about the opportunities      giants and South African and American
that can be tapped.                             banana exporters.




                                                                                           19
                                                  Research
                                                  stations eg
                                                  Trichi


                            From                        Banana                    From Australian
                            scientists                  preharvest                experts



                            Research                    Postharvest               Study models of
                            stations                                              Latin America


             Collaborative                                                                          Europe
                                                        Marketing                 Market
             Relationship                Types                                    s
                                                                                                    Middle East
             niche
                                                       Non conventional
                                                       markets



                                            Organics                 Fair trade



The prospects for Indian exporters look
really bright in banana export space. It is
the time for Indian exporters to come out
of their nut-shell and take full advantage of
the underlying opportunity. The bananas
will certainly taste good to European palate
and will give a leeway to Indian exporters
to begin their joyride in yet unexplored
territory. Exploring the unexplored is the
way to get supernormal returns and time
has come for Indian exporters to realize
this fact.




Spandan thanks Ms Shailja Joshi, MBA ( IB
) 2005-07, IIFT, for this scholarly article on
banana export issues. Full text is available
with the Editor.


Her article in August issue of Spandan on
Ambush Marketing was widely appreciated.



                                                                                                                  20
      SYSTEMIX : IN OVERDRIVE MODE               The     questions     ranged      from     project
                                                 management in TCS to career profiles of
    AGILENT AND TCS ENGAGEMENT : AN              MBA grads in IT industry to the skill sets
                  OVERVIEW                       needed to be a competent manager in
                                                 software industry.
The    presentation     was    organized    by
                       nd
Systemix club on 2          September and Mr     It    was   a     great     interactive   session,
Anurag Gupta from TCS was the speaker.           participated enthusiastically by first year
The presentation was basically aimed to          students for whom this was the first real
give the first year students an exposure to      exposure to IT industry trends.
the Indian software IT industry.


The speaker started the presentation with        Spandan     thanks        the   Systemix     Club
a   brief    on   Agilent   Technologies.   He   Coordinators,       especially      Mr    Renjith
described the kind of domain Agilent is into     Gopalakrishnan, for this initiative.          The
(testing & measurement and semiconductor         student          response        was       indeed
business) and talked about how TCS built         overwhelming.
relationship with Agilent and bagged the
contract. Then he went on to describe the        In the last month, Systemix has emerged as
kind of service TCS provides to Agilent i.e.     one of the most active clubs at IIFT. This
knowledge transition, secondary support,         momentum, to be maintained, requires a
primary support and steady state support.        conscientious effort on the part of all club
He also discussed the issues, challenges         members.        Let not the base effect come
faced by TCS and also its accomplishments.       into picture!


In his next topic, Anurag described what
business intelligence (BI) is all about and
how it is helpful to an organization. He
clarified how data warehousing and BI are
different.   He described      in   detail the
different type of BI users, method of
delivery of solution, BI tools, megatrends
and BI applications.


In the Q&A session, students asked a long
range of questions and the speaker was
more than happy to clarify every doubts.



                                                                                                21
             CASHONOVA CZARS                         attended   by Shri     M   Damodaran,   SEBI
                                                     Chairman, and Shri Adi Godrej, Chairman,
 Interaction with Mr Shubham Majumdar,               the Godrej Group.
       MacQuarie Bank, IIFT Alumus.
                                                     Mr Majumdar was also open to the idea of
Cashonova organized a one hour interaction           the students actively interacting with him
with   Mr    Majumdar,     India     Analyst     –   via email to clarify any career related
Pharmaceuticals and Telecom, MacQuarie               queries.
Bank, one of the dominant global players in
the    Investment       Banking         industry.    He is also the mentor to Mr Rahul Newar,
Participants of the MBA ( IB ) 2005-07 batch         the Coordinator for Cashonova.
were the audience for the interaction.


Mr Majumdar explained the dynamics of the            Students interested in interacting with Mr
I Banking industry and the roles that are on         Majumdar can take his email address from
offer for candidates from premier B Schools          the Cashonova Coordinators.
like IIFT.    He explained in detail the
difference    between     research      oriented     Two meetings of Cashonova were also
profiles, working in the debt and equity             successfully held with a Mutual Fund game
markets and derivative trading.                      thrown in.     The desirability of a CFA
                                                     qualification was also discussed.
The areas of emerging interest were also
taken up threadbare with participants                The IIFT BOMCHAM NATIONAL FINANCE
being allowed the freedom the question the           SYMPOSIUM White Paper contest was also
upcoming scenario in the I Banking and               launched this month.
global investment climate.


Previous to MacQuarie Bank, Mr Majumdar
has had stints with Motilal Oswal and
Merrill Lynch.    His active contribution in
the organization of the IIFT-BOMCHAM
NATIONAL FINANCE SYMPOSIUM, to be
held in Mumbai on the 11th of October,
can hardly be over emphasized.                 His
involvement      has   resulted    in    several
eminent personalities having consented to
speak at the occasion which is being



                                                                                              22
                     THE FORUM                         The discussion contoured around the major
                                                       terminologies     used,    but    often     poorly
MOVING TOWARDS FCAC : IS INDIA READY                   understood,       in      the     context       of
                                                       convertibility. The presentation moved on
While the Forum is not an official club at             to the broad issues that face India on its
IIFT,    its    contribution    in    keeping   the    road to FCAC, especially in perspective of
Batches on their feet regarding current                the   Asian    Meltdown      of   1997.       The
happenings in the global context can not               presenters described in detail the measures
be ignored. Spandan welcomes The Forum                 that need to be taken before India can
aboard!                                                open the floodgates for foreign investments
                                                       to come in with minimal restrictions. The
The Forum is an initiative of Dr Pinaki Das            Tarapore      Committee      Report   was     also
Gupta,     our       Program    Director,    where     discussed in great detail.
students meet every fortnight and discuss
contemporary issues in the presence of the             The participation from the junior batch was
Director General and members of the                    extensive and their intelligent questions
Faculty.       Issues like “Turkey’s entry into        provoked the Faculty and presenters alike.
EU”,     “SAARC        and   Impact     on   Indian    It was definitely a session which added
Economy”         and     “Consumer      Electronics’   value to all participants.
Scenario” were discussed last year with
superb attention to detail by participants.
The presence of the Director General                   Mr Abhijeet Bhagwat and Ms Rashoo
himself inspires students to give their best           Kame are the coordinators for The Forum.
shot to the issue.                                     Their sincere efforts have seen The Forum
                                                       gaining    wide    acceptance      within     the
The first Forum of the trisemester was                 batches.
focussed around the Tarapore Committee
Report         and     the   concerns     regarding
movement towards Fuller Capital Account
Convertibility. This Forum was also meant
to be an eyeopener for the junior batch
regarding the expectations from them in
this interaction. Abhay Betharia, M V R
Sireesh and Vishwas Khanna were the
presenters for this topic.




                                                                                                      23
           BLASH MEETING UPDATE                        arm of AWB, a premier trading institution
                                                       in Australia with a global footprint.
                Issues Discussed
                          &                            His project centered around the following
     How Piyush Singh mastered the Indian              objectives:
            Agriculture Heartland
                                                                 Identify        the     agri    commodities
                                      th
The meeting held on              26        of August              arriving in the mandis.
centered around the following issues:                            On the basis of movement of
                                                                  commodities           to    different      retail
1) Review of Trade White Paper and                                locations,       identify      the      current
Discussion on the Topics to be covered in                         supply chain from farm to retailer.
the Conclave.                                                    Identify the gaps in the supply
                                                                  chain.
2)     Formation     of    the      Committees     :             Identify        the     margins       of     the
Newsletter,     IIFT      Street,      Comex    and               intermediaries.
Paghdandi                                                        Develop a shadow cost card for
                                                                  AWB         after          removing          the
3) Call for volunteers           for the Trade                    intermediaries.
Conclave
                                                       The       project   involved          moving     between
4) Discussion on Summer Experiences                    Madhya Pradesh, Delhi and Maharashtra in
                                                       mandis such as Pipariya, Bareilly, Bankhedi
5) NCFM Certifications : Are they worth it?            and Semary Harchand ( most places don’t
                                                       click to the ordinary MBA student! ).
As part of the Knowledge Transfer agenda
of the Clubs, the second BLASH Meeting of              Project was divided into two phases:
the month concentrated on the Summers
Experience of members of the Senior Batch                                   In     the       Mandi        Phase,
whereby the juniors could be made more                                       movement              of         agri
aware of the expectations of companies                                       commodities          to      primary
who      come   to     campus       for     summers’                         and secondary market is
recruitments.                                                                identified.


Mr Piyush Singh did his summer internship                                   In the Retail Phase, the
with Australian Wheat Board, the Indian                                      procurement          route        for




                                                                                                                24
                 these commodities by the                 Variety specialization for Retailers
                 retailers is identified.
                                                                     Assured source of supply
        On the basis of the data from these                         Demand-linked supply
         two phases, shadow cost card for                            Market required attribute
         AWB is prepared.                                             and Quality consistency
                                                                     Packaging        as        per
In the words of Piyush Singh ( straight from                          specifications
the horse’s mouth ) : “Trade demands
passion and unwavering commitment to               In his own opinion, the lecture to the
excel.   It is not a profile for the weak          juniors helped him convey his work in a
hearted. My earlier work experience was            simple manner to be assimilated by them.
in IT and trade was definitely an eye              He also provided thoughtful insights into
opener… My summer experience brought               career options available to students who
out the rustic farmer in me.”                      wish to take up trade as an elective.




                                                   Spandan thanks Piyush for the updates on
                                                   his project.


                                                   Piyush is a self confessed foodie and
                                                   relishes Punjabi food. He has a passion for
                                                   swimming in shallow water and actively
                                                   contributes to the activities of BLASH and
                                                   SYSTEMIX.


TRADE HONCHOS : Piyush Singh ( C ) and
Pratik Vora in an exclusive interview with
the Editor, at McDonald’s.


Chief Recommendations of his project (
excluding    data    analysis   and    number
crunching ) were :


        Build   better   relationships     with
         farmers.




                                                                                                 25
                 READERS’ REVIEW                        students and freshers in corporates. Having
                                                        over              15            years             of
           What Readers have to say                     experience       in theatre     as   well    as IT
                                                        corporate        life,   I    have      tried     to
“Good job with Spandan, congratulations                 imbibe the best of both in this intense
to you and your team…as for suggestions,                session…Do respond if something can be
one idea is to incorporate articles from our            arranged for the IIFT batches…
professors, students and professors from
other b-schools as well.”                               Karthik TM, Senior Manager, Satyam
                                                        EMIB 2004-06
Ruchika Khattar, MBA ( IB ) 2005-07,
Placement Committee Member                              “Thanks Vishwas K, for the IIFT e-mag. Its
                                                        an excellent effort you people are putting
“I think the overall structure looks a little           in. Please let us know how we, from ONGC
jumbled. If I want to find the introductions            batch, can contribute towards it? Keep it
of the Club co-ordinators, I have to refer              up.
to   the    left     hand   side     of   the    club
introduction and then again check the                   Mr Pradeep, ONGC
photographs at the end.…”
                                                        “Spandan     -    very   nice    layout...      good
Nitish Jain, MBA ( IB ) 2005-07                         articles. Congrats.”
Systemix Coordinator
                                                        Mr Ramanna, ONGC
“…Also     all     in all   I don’t think         the
newsletter has that much readability in it.
I think you'll have to spice it up with some
trivia, some quiz, or something else, in
words of Nitish Jain: "some controversial
matter", it will not appeal to the
masses.”


Pratik Vora, MBA ( IB ) 2005-07
Blash Coordinator


“Kudos to a well brought out Spandan e-
mag…       …I      offer    a      theatre      based
communication skills workshop for college



                                                                                                         26
                 PHOTOSHOP


 IIFT NASSCOM NATIONAL IT SYMPOSIUM




Walk the Talk : Shri Prabir Sengupta,
Director, IIFT, with Shri Jainder Singh,
Secretary, Ministry of IT and Shri Kiran
Karnik, President, NASSCOM.




Who wants to read a White Paper :
Releasing the White Paper authored by Ms
Nidhi Minj and Ms Rashoo Kame, MBA ( IB )
2005-07, IIFT.




                                            27