Companies must choose growth mindset and constantly evaluate resource allocation to boost growth, McKinsey India said.
Growth is the only oxygen that India needs, McKinsey India senior partner Jaidit Brar said at the annual convention of Madras Management Association here.
"The drivers of margin accretive growth are relentless cost and value engineering; quality of revenue, new business models and scale benefits," he said at the event which was held on the theme "India's Century: How to Drive Sustainable, Inclusive Growth?".
Companies must choose growth mindset, constantly evaluate resource allocation, pursue adjacent opportunities, serve global markets, he said.
NITI Aayog former CEO Parameswaran Iyer said the Centre wants to create facilities that would remove the divide between villages and cities and government would be an enabler and not implementer.
India is very much on the path to become a developed nation, thanks to its economy, sound macro-economic fundamentals, robust public finance, strong manufacturing, export growth and leadership in climate action, he said.
Lok Sabha MP N K Premachandran, who inaugurated the conference, said business management plays an important role in the growth of a nation and underlined the need for proper scientific management of resources.
MMA President and Tata Consultancy Services vice president, Suresh Raman, MMA senior vice president and TSM Group of Companies partner-director K Mahalingam were also present on the occasion.
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First Published: Feb 26 2023 | 6:13 PM IST