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Scouting opportunities in a new normal world by Dhananjay_Singh_irs
- 1. Dhananjay Singh, IRS CBIC, Ministry of Finance, Govt of India Linkedin: https://www.linkedin.com/in/dhananjay-singh-irs-19947377 Twitter:@dhananjay_IRS
- 2. ❖ Views expressed in this presentation are strictly personal views ❖ Source of Pics: from several sources on Internet ❖ Due credit & acknowledgment is attributed to different authors whose ideas have been referred to Twitter:@dhananjay_IRS
- 3. Let us all eschew fear Source: Prospect Theory by Daniel Kahneman Twitter:@dhananjay_IRS
- 4. COVID-19 Income distribution Shock Involves moving money Affects resilience Supply Shock Shrinking of pie Twitter:@dhananjay_IRS
- 5. Strategy for New India @ 75 Twitter:@dhananjay_IRS
- 6. Mega Trends in Economy • Change in geo-politics, sourcing strategies leading to shifting of certain industries outside China: • German footwear brand Von Wellx shifts production from China to India • More Governance, Less Govt; Privatization • Make In India (jobs) • GVCs an important part of Atmanirbhar Bharat Package Twitter:@dhananjay_IRS
- 8. Agri Sector • Additional Rs.40000 crores for NREGA;Total:Rs.1 lakh crores (productive assets) • APMC monopsony (Art.301), Contract farming, Essential services legislations • Factor market reforms-labour… • AgriStack • Free Agri marketplace will unlock opportunities for new investments: • Uberisation of Farm Services • E-trading (tech-based platforms) • Incentivises GFCF in cold chain infra, W/H • Food processing units • Logistics • Insurance etc Twitter:@dhananjay_IRS
- 9. Institution Building • Institutions of the poor: • Women SHGs (RBI recognition),SHG Federations • Nurture Community Heroes (eg, Kerala,Vietnam VLWs) • Instns for the poor • Scheme for 10000 FPOs Twitter:@dhananjay_IRS
- 10. Entrepreneurship & Start-ups https://okhai.org/ • India is the 7th largest start-up ecosystem in the world • Start up India https://www.startupindia.gov.in/ • TiE, TYE, Role playing business roles in Middle School • https://www.psbloansin59minutes.com/home • Know-how is as important as know-why • SaaS,PaaS, Edutech, Healthtech, Fintech, Online gaming, Retail, Logistics, Agritech • Reverse migration (skill-sets) needs to leveraged to create viable business models by customising offerings to un/under-served markets: ➢ Artisans (100 mn) Twitter:@dhananjay_IRS
- 11. Efforts of Government, Regulators • PM Garib Kalyan Ann Yojana • Primary focus of Govt & RBI is on easing liquidity & providing cash in the hands of people, industry • Govt’s Rs.20 lakh cr Economic package in view of Corona Pandemic • https://www.investindia.gov.in/ • New def of MSMEs: Distinction between manufacturing & services removed. Investment limits revised upwardly. The criterion of turnover added • https://udyamregistration.gov.in Micro enterprises Investment upto Rs.1Cr & turnover upto Rs5 Cr Small enterprises Investment upto Rs.10 Cr & turnover upto Rs 50 Cr Medium enterprises Investment upto Rs.20 Cr & turnover upto Rs 100 Cr Twitter:@dhananjay_IRS
- 12. • MSMEs/Non-profits crucial for seamless last mile value creation & delivery • Prevent liquidity problem of MSMEs from becoming a solvency problem (guarantee) • https://www.psbloansin59minutes.com/home (GST data...) • SMILE & SAFE,SAFE+ of SIDBI • Government e-Marketplace (GeM) • Redefine fixed costs; Focus on extending cash runway; share orders, capacity, equipment (collaborate) (Eg.,Gainsharing done with farmers by GCMMF) • Variable cost model: plug & unplug resources depending on economic conditions • Monetise all non-usable assets like land, machinery • TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of MSMEs through multiple financiers (mandatory for Rs.500 crores turnover corporates); MSMEs can convert ARs/DSOs into cash using TReDS • Moving from physical touchpoints to digital touchpoints Twitter:@dhananjay_IRS
- 15. AIM ATL AIC ACIC ARISE ANIC https://aim.gov.in/aim-covid.php Twitter:@dhananjay_IRS https://aim.gov.in/resources-for-atl-incharge.php ATL App Development module under AIM
- 16. Role of CSOs, VOs • Voluntary charity because of market failure (Eg, School made by wealthy businessman) • 3 million Non-profits in India: Need for collaboration (agglomeration economies) • Guide Star India, NGO Darpan • Crucial for seamless last mile delivery to intended beneficiaries • Rights-based Non-Profits are quickly re-purposing themselves towards pressing issues arising out of the pandemic • Volunteer to build a different set of transferable skills Twitter:@dhananjay_IRS
- 17. Contribution of Non-profits (contd) • Parinaam Foundation (Ujjivan) work with 2500 ultra-poor families, on the road, delivering essentials to the needy • MFIs have foot on the ground: field staff can help deliver, connect/enable needy with govt schemes, PDS etc • Empathy at community level has been remarkable (WB eg) • MSDF’s partners for the Ghar per School campaign • Philanthropy foundations funds provide the ‘first loss’ funds • Action Covid-19 Team (ACT): actgrants.in • Wadhwani Entrepreneurship network: AI for Social Good; Wadhwani entrepreneurs (Start-ups) Twitter:@dhananjay_IRS
- 19. Equitable Capitalism ❑ Triple Bottom Line (TBL), ESG ❑ Purpose-driven organizations Twitter:@dhananjay_IRS
- 20. TBL as an accountability framework State Street Global Advisors Gravity Payments Twitter:@dhananjay_IRS
- 21. Frugal innovations/Sustainable Approaches • Tata, M & M, Maruti, Ford, GM, Tesla quickly responded by retooling (flexibility- based strategies) & started scaling up the production of ventilators • IIT Delhi startup ETEX produced a cheap and effective facemask “Kawach” for protection against Covid-19 that costs just Rs. 45 • ‘Mylab’ COVID-19 test kits • Redefine & recombine Supply Chains • Rural sector: a bright spot • Andhra Pradesh ‘Zero-Budget’ Natural Farming (APZBNF) Programme,Rythu Sadhikara Samstha (RySS) Twitter:@dhananjay_IRS Repurposing Trains
- 22. Living Root Bridges of Meghalaya Source: https://www.gian.org/ https://www.sristiinnovation.com/about-sristi.html Twitter:@dhananjay_IRS
- 24. Ensuring Sustainable Impact of Projects Both intended & unintended benefits Focus on distributive justice Quality of Life,Environment Values for learning Impact Evaluation Twitter:@dhananjay_IRS
- 25. Current & future Trends • Digital infrastructure: IndiaStack • AEPS has witnessed surge in transactions post Corona outbreak • Disruptions in BFSI space; Fintech (video KYC) ; Inclusive digital finance • Data.org: Funds selected organizations & high-potential projects to demonstrate the transformational power of data science for social impact • Use cases: Mastercard data-driven insights reflect consumer spending and store openings up sharply, proving that neglected neighborhoods warrant investment • Volunteer to build a different set of transferable skills • Collaboration between competitors (3M & GE Healthcare colloborating on a simplified ventilator design, 3M & GE Healthcare:masks,PPE for healthcare workers) Twitter:@dhananjay_IRS
- 26. Current & future Trends • AI has twin benefits: • GPT (eg., motors, microprocessors) • A new method of invention (eg.,digital computing) • Low hanging automation use cases are in CRM & HR Support: • Moving from physical touchpoints to digital touchpoints • Deploy Chatbots (e.g., Finserv BLU) • Conversational AI can assist in workflow • Mark attendance through HR bots by turning on location in WhatsApp • Physical & digital world combined • Reinvent business models https://www.weforum.org/ • Resilient Supply Chains • Platform (gig) economies • Next decade may be of Genome Sequencing Café X Twitter:@dhananjay_IRS
- 27. Success Stories of Blockchain IBM Food Trust Trade Lens RTO Mumbai Corneal TransplantTwitter:@dhananjay_IRS
- 29. Reciprocation Authority Consistency Scarcity Liking Social proof Source: Dr. Robert Cialdini Eg: Tax dept SMS Twitter:@dhananjay_IRS
- 31. 'The Adventures of Tom Sawyer'-a Novel by Mark Twain Twitter:@dhananjay_IRS
- 32. • Team work• Self-regulation • Empathy• Know thyself • Understanding one’s own emotions Self- awareness Social awareness Relationship management Self- management Source: D Goleman Twitter:@dhananjay_IRS
- 35. DHANANJAY SINGH Welcome to connect at: Linkedin: https://www.linkedin.com/in/d hananjay-singh-irs-19947377 Twitter handle: dhananjay_IRS At WTO, Geneva, Switzerland