India to Look for Innovative Partnerships at EXPO2020 to become Preferred Sourcing Partner for Global Textile Industry

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India will pitch for becoming the preferred sourcing partner for the global textile industry during the textile week at the India Pavilion in EXPO2020, Dubai, starting on Friday.India Pavilion at EXPO2020 DubaiMinister of State for Textile & Railways, Smt. Darshana V Jardosh will inaugurate the ‘Textile Week’ virtually, and is slated to invite the global investors to invest in the Indian textile value chain and make it a preferred sourcing partner. Talking about the upcoming textile week (26th Nov – 2nd Dec), she shared, “Indian textile is world renowned as it not only represents country’s glittering past but also matches up to the demands of the modern times. India is the world’s second largest exporter of textile and clothing and focuses on both quality and scale of production to become the global manufacturing hub and represents immense opportunity for global investors and buyers.”The ‘Textile Week’ at India Pavilion will see many activities including roundtable discussions on India as a sourcing and investment destination for textiles along with the production linked incentive (PLI) scheme.Interestingly, India is recognized as one of the best sourcing destinations for garments, textiles & accessories. Textile share in India’s GDP is estimated at around 2.3% and is the largest employer, employing about 45 million workers. India’s FDI policy is recognized as the most liberal in emerging economies, which allows 100% investment under the automatic route in the entire textile value chain. India’s Minister for Commerce and Industry, Textiles, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal has urged the textile industry ‘to focus on speed, skill and scale and get into innovative partnerships’.The government has also recently approved a PLI scheme worth Rs. 10,683 for domestic technical textiles firms, and manufacturers of fabrics and apparel in the man-made fibre segment.A high-level delegation led by Shri Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles, Government of India, will be meeting global business federations along with various industry chambers during the ‘Textile Week’ to explore potential business tie-ups through investor connect programmes.The Week will also have a fashion show by the National Institute of Fashion Technology, India.Apart from Shri Vijoy Kumar Singh, these meetings will see participation from Shri Jay Karan Singh, Trade Advisor, Ministry of Textiles, Dr. A Sakthivel, Chairman, Apparel Export Promotion Council, Mr Chandrasekaran Thuvarapalayam Visvanathan, Chairman, Handloom Export Promotion Council, Mr Dhiraj Rai Chand Shah, Chairman, The Synthetic & Rayon Textiles Export Promotion Council, Mr M.A Ramasamy, Chairman, Powerloom Development & Export Promotion Council, Mr Umar Hameed, Chairman, Carpet Export Promotion Council, Mr Sanjeev Dhir, Chairman, Wool & Woollens Export Promotion Council, Mr Naresh Kumar Sadh, Chairman, The Indian Silk Export Promotion Council, Mr Prem Malik, Past Chairman, The Cotton Textiles Export Promotion Council & CITI and Vice Chairman, NSL Textiles Ltd., Mr T. Raj Kumar, Chairman, CITI, Mr Siddharth Lohariwal, Vice-Chairman, Jute Products Development & Export Promotion Council & Mr Rakesh Kumar Verma, Executive Director, Export Promotion Council for Handicrafts and other industry stalwarts.Toknow more about India Pavilion at EXPO2020 Dubai, please visit:Website – www.indiaexpo2020.comFacebook – www.facebook.com/indiaatexpo2020Instagram – www.instagram.com/indiaatexpo2020Twitter – htwitter.com/IndiaExpo2020s=09LinkedIn – www.linkedin.com/company/india-expo-2020/viewAsMember=trueYouTube – www.youtube.com/channel/UC6uOcYsc4g_JWMfS_Dz4Fhg/featuredKoo – www.kooapp.com/profile/IndiaExpo2020ToknowmoreaboutEXPO2020Dubai,pleasevisit- www.expo2020dubai.com/en.

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal