Semiconductor Is The New Oil, Says Management Guru Ram Charan

Dr Ram Charan, the Harvard researcher, said India has got talent and the country can be the largest hub for technology research and development

Dr Ram Charan has advised 12 top billionaires in the world, including Kumar Mangalam Birla and the late Jack Welch, for their businesses. ( Image Source :Getty )

Management guru Dr Ram Charan said that technology is the biggest challenge the businesses are facing today. Speaking to ABP Live, Charan said, "If you look at the global economy, technology is now the biggest challenge. I am glad that Prime Minister Narendra Modi is thinking about chips (semiconductors). Chip is like oil. It will take time, but in my view, these things will bring you technology."

The Harvard researcher said India has got talent and the country can be the largest hub for technology research and development. "I want India to be the biggest hub for technology research and development because we have talent. I want India to be number one in providing services."

During the interview, Dr Charan pointed out that the country has around 10 big reputed business schools. "After looking at what my clients wanted in the middle management business, I tell them don’t go to the top tier B-schools. Go to the middle-rung schools. Go to Lucknow or Ranchi and search for candidates who are people-oriented, who are driven by something. They might not score well in exams but see their interest and talent. Give them the right job,  they will rise. Spot their natural talent," Dr Charan said, while adding, "Many of the CEOs I worked all my life in the past 50 years were not number 1 in class. However, they were number 1 on the people side, motivational side."

The Harvard researcher has advised 12 top billionaires in the world, including Kumar Mangalam Birla and the late Jack Welch, for their businesses. He was in India to speak about his new book, 'Leading through Inflation: And Recession And Stagflation.' Talking about what companies should do at a time when RBI is tightening its monetary policy to fight inflation.

Ram Charan said, "We need certain minerals, we need the energy equation. We are partly okay in food. We need to build more services, we need more technology strength. We can lead. See, the key point is a nation is heavily driven by the leaders. We have a history. Previous to BJP, we had two terms of the UPA government. One term was reasonably well, but the second term was terrible. Now we have Mr Modi continuing and the succession. I have no doubt that we can grow 7-8 per cent per annum and then we can see a reversal of currency devaluation. They have done it in Singapore and Switzerland and other places earlier. We know how to do it. I can see three people — the PM, the governor (RBI), the finance minister. I honestly believe they know how to do that."