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First, the deficit this year is going to be something like $590 billion. The $20 trillion figure you quoted (actually about $19.4 currently) is the debt. This is an important distinction.The short answer is that governments, financial institutions, hedge funds, banks, and individuals are willing to loan the US government money at pretty low interest (~2% recently), so interest payments on the debt only amount to 6% of total federal spending. Which is a lot of money (more than we spend on veterans, for example) but not exactly fiscally crippling.But this begs the question of why the debt is so cheap, and whether or not the public debt a bad thing.Paul Krugman (a Nobel-prize winning economist for those of you who aren’t big fans of the Times) shouts into the wind about this fairly frequently. People worry a lot about the national debt, but he makes some cogent (and Nobel-scented) arguments that these people should chill out: debt plays an important, if misunderstood, role in the world economy, and US debt in particular is important for stability; we can borrow money at an incredibly low rate right now; debt can easily be good, even in a very narrow fiscal sense; and what matters is the debt to GDP ratio, not the absolute number (20 trillion, etc.)Note: I recognize that not everyone agrees with Mr. Krugman, but I would prefer objections in the form of “here is some research from the MIT economics department that contradicts point B” to “Krugman is a poopy-head libtard, and you are too!”His first point is that Nobody Understands DebtAll this austerity has, however, only made things worse — and predictably so, because demands that everyone tighten their belts were based on a misunderstanding of the role debt plays in the economy.You can see that misunderstanding at work every time someone rails against deficits with slogans like “Stop stealing from our kids.” It sounds right, if you don’t think about it: Families who run up debts make themselves poorer, so isn’t that true when we look at overall national debt?No, it isn’t. An indebted family owes money to other people; the world economy as a whole owes money to itself. And while it’s true that countries can borrow from other countries, America has actually been borrowing less from abroad since 2008 than it did before, and Europe is a net lender to the rest of the world.Because debt is money we owe to ourselves, it does not directly make the economy poorer (and paying it off doesn’t make us richer). True, debt can pose a threat to financial stability — but the situation is not improved if efforts to reduce debt end up pushing the economy into deflation and depression.The natural temptation is to make an analogy between public debt and household or personal debt, but as Krugman explains above, this is a bad analogy. A lot of the money is owned internally, which is different than (in the family example) owing it to a credit card company.Another important difference is that I can’t unilaterally raise my income or create new money, which are both things that federal government can do through changing the tax code or literally printing more money. Those actions obviously have further economic ramifications and can’t be undertaken lightly, but they do mean the federal government has a fundamentally different relationship to debt than an private consumer.His second big point is that Debt Is Good:Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt.…[T]he power of the deficit scolds was always a triumph of ideology over evidence, and a growing number of genuinely serious people — most recently Narayana Kocherlakota, the departing president of the Minneapolis Fed — are making the case that we need more, not less, government debt.Why?One answer is that issuing debt is a way to pay for useful things, and we should do more of that when the price is right. The United States suffers from obvious deficiencies in roads, rails, water systems and more; meanwhile, the federal government can borrow at historically low interest rates. So this is a very good time to be borrowing and investing in the future, and a very bad time for what has actually happened: an unprecedented decline in public construction spending adjusted for population growth and inflation.Beyond that, those very low interest rates are telling us something about what markets want. I’ve already mentioned that having at least some government debt outstanding helps the economy function better. How so? The answer, according to M.I.T.’s Ricardo Caballero and others, is that the debt of stable, reliable governments provides “safe assets” that help investors manage risks, make transactions easier and avoid a destructive scramble for cash.So two key ideas here: first, debt can be used as tool that directly benefits and enriches the United States economy. Second, American debt in particular is an incredibly useful and stabilizing element of the world economy, historically (and currently) the “safest” asset one can own.Debt itself is neither good nor bad. It’s effect depends on amount relative to “income” (in this case GDP) and what exactly the debt is doing. We would, in the (bad) household analogy, make a distinction between different sorts of debt: we might consider it smarter to take out $100k in student loan debt to go to medical school than to rack up $10k in credit card debt at a strip club, even though the first debt is much larger.This first principle (debt to relative income) is why Debt-to-GDP ratio is the important number, rather than absolute debt. A richer country can afford a larger amount of absolute debt than a poorer country. Our debt-to-GDP ratio is higher than it has been for the last few decades (though much lower than it was after WWII), but has not hit “worrisome” territory. According to the Central Intelligence Agency World Factbook, US public debt to GDP was about 73% in 2015, compared to 71% for Germany, 90% for the UK, and about 228% for Japan. So we are doing well compared to the G-8 nations, and not bad at all considering the combination of profligate deficit spending by the Bush administration and a world financial meltdown. And we seem to be on the right track for keeping it from getting higher: the budget deficit is down about 76% from the year Obama took office: We have cut 'our deficits by almost three-quarters,' Obama says in State of the UnionUS debt is also a uniquely stable place for financial entities to park their money. This has been true historically and, despite a lot of people panicking over the largeness of the current number, markets seem incredibly confident about US debt: they are willing to loan the US money for 10-years at a 1.7% interest rate today, compared to an 8% interest rate in 1990 (https://www.treasury.gov/resourc...)As a result of all this, and contrary to both “Very Serious People” (I’m looking at you, David Brooks) and the voodoo economics crowd, now is a historically great Time to Borrow for the United States:How should we pay for [much needed public infrastructure] investment? We shouldn’t — not now, or any time soon. Right now there is an overwhelming case for more government borrowing.Let me walk through this case, then address some of the usual objections.First, we have obvious, pressing needs for public investment in many areas. In Washington, the aging Metro is in such bad shape that whole lines may have to be shut down for maintenance. In Florida, green slime infests beaches, in large part because failure to upgrade an 80-year-old dike or to purchase more land as a runoff area is forcing the Army Corps of Engineers to release polluted water from Lake Okeechobee. There are similar stories all across America.So investing more in infrastructure would clearly make us richer. Meanwhile, the federal government can borrow at incredibly low interest rates: 10-year, inflation-protected bonds yielded just 0.09 percent on Friday.Put these two facts together — big needs for public investment, and very low interest rates — and it suggests not just that we should be borrowing to invest, but that this investment might well pay for itself even in purely fiscal terms. How so? Spending more now would mean a bigger economy later, which would mean more tax revenue. This additional revenue would probably be larger than any rise in future interest payments.And this analysis doesn’t even take into account the potential role of public investment in job creation: Despite a low headline unemployment rate, the U.S. economy is still probably short of full employment, and an investment agenda would also offer valuable insurance against possible future downturns.To go (yet again) to the household analogy (which, again, is bad for a variety of reasons): if a bank was offering to lend you money at 1.7% interest for a mortgage or home improvement loan, would it be wiser to borrow the money, or to leave it on the table?

Mr. Avinash P. GandhiMr. Avinash P. Gandhi received his Bachelor's Degree in Mechanical Engineering from Birla Institute of Technology, Mesra and he has completed Senior Management programmes at Indian Institute of Management and Administration Staff College of India.Mr. Gandhi served as a Special Advisor to Asia Automotive Acquisition Corp. since June 20, 2005. From 1998 to 2002, Shri. Gandhi had been the President of Hyundai Motors India and from September 1994 to June 1997, he served as the Chief Executive Officer of Bhartia Cutler Hammer (now a part of Eaton Corporation). From June 1997 to June 1998, Mr. Gandhi was Group Chief Executive of a Conglomerate of seven companies having tie-ups with leading global electrical products manufacturers.Mr. Avinash P. Gandhi has rich years of experience in engineering and various managerial positions. He held top leadership positions in prestigious organizations for nearly two decades in a professional career spanning forty years. From 1969 to 1994, he served in a number of positions with Tata Motors and Escorts Limited including that of Director on Board of Escorts Claas, a start up joint venture project with the largest Indian self propelled combine harvester company.Mr. Gandhi’s other positions of eminence include:The Chairman of the Board of Directors of Fag Bearings India Ltd.Independent & Non-Executive Director of Havells India Ltd.Director of Uniproducts (India) Ltd.Member of Advisory Board of NuVeda Learning Pvt. Ltd.His other Directorship’s include Independent Lumax Industries Ltd., Fairfield Atlas Ltd., Panalfa Automotive Pvt. Ltd., Continental Engines Ltd., Mahavir Aluminium Limited, Minda HUF Ltd., Indo Alusys Ltd., Avinar Consulting Pvt. Ltd., Avinar Service Pvt. Ltd. and Pan Alfa Auto Ektrie Pvt. Ltd.Mr. S. N. AgarwalMr. S.N. Agarwal, a graduate engineer from Birla Institute of Technology, Mesra and an alumnus of Harvard Business School (AMP- 1985) is the Chairman of the BHORUKA Group.He has been a Senior Executive Committee Member of Federation of Indian Chambers of Commerce & Industry, (FICCI) since 1985. He has been the Chairman of various National Committees of FICCI on Power, Non-conventional energy, Logistics etc. He is the President of Karnataka State Council of FICCI-New Delhi and he is also the Vice President of SAARC Chamber of Commerce & Industry representing India.Mr. S N Agarwal’s other positions include Member, Governing Board - Indian Institute of Management (Bangalore), Chairman of the Committee on Finance and Campus Development of Indian Institute of Management Bangalore (IIM-B), Member - World Presidents Organization. He was also the Past President of All India Organization of Employers, (AIOE).Dr. Ganesh NatarajanDr. Ganesh Natarajan is Deputy Chairman and Managing Director of Zensar Technologies Limited, a Global firm that transforms Technology and Processes for Fortune 500 companies. Dr. Natarajan has been one of the most successful professionals in the Indian Information Technology Industry, having earlier been part of two major success stories in IT Training and Consulting, NIIT and APTECH. During his ten-year stint as CEO of Aptech he grew the company’s revenues fifty times and listed it on the Indian and London Stock Exchanges.A Gold Medallist in Mechanical Engineering from Birla Institute of Technology, Mesra he has completed his PhD in Knowledge Management at IIT Bombay. He is the author of three McGraw Hill Books on Business Process Reengineering and Knowledge Management and has also authored a book titled “Winds of Change”. He is a regular columnist for India’s premier Business and IT magazines.Dr. Ganesh Natarajan was named “CEO of the Year” by the Asia Pacific HR Conference in 1999 and received the Wisitex Foundation’s CEO of the Decade – Knowledge Award from India’s Minister for Information Technology in 2000. In July 2005, he received the Asia HRD Congress Award for Contributions to the Organisation through HR. He was one of nineteen finalists at the Ernst & Young Entrepreneurs of the Year Award 2005 where he was recognized for his exemplary leadership skills and business acumen.Dr. Natarajan chairs the Outsourcing Forum of the Confederation of Indian Industries in Western India and is also a member of the Executive Council of NASSCOM, India’s premier IT and BPO Association. He has been elected Chairman of the NASSCOM Innovation Forum for 2005-07.Mr. Deven SharmaMr. Deven Sharma holds a bachelor's degree from the Birla Institute of Technology, Mesra, having graduated in Mechanical Engineering in the year 1977. He holds a Master's degree from the University of Wisconsin and a doctoral degree in Business Management from Ohio State University.Deven Sharma was named president of Standard & Poor's in August 2007. Standard & Poor's, a division of The McGraw-Hill Companies, is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.Prior to being named president, Mr. Deven Sharma served as Executive Vice President, Standard & Poor’s, where he was responsible for Investment Services and Global Sales. The businesses include Investment Data & Information, Research and Portfolio services. Prior to this, he spent five years as Executive Vice President, Global Strategy for The McGraw-Hill Companies, where he led the expansion into digital markets, geographies and new growth areas, as well as acquisitions. He also oversaw McGraw-Hill Ventures.Mr. Sharma joined The McGraw-Hill Companies in January 2002 from Booz Allen Hamilton, a global management consulting company, where he was a partner. During his 14 years with that firm, he provided guidance to client companies on business strategy and globalization, as well as on branding and sales management. Much of his experience includes work with global corporations in U.S., Latin America, Europe and parts of Asia. Prior to Booz Allen, he worked with manufacturing companies, Dresser Industries and Anderson Strathclyde.Mr. Sharma has authored several publications on competitive strategy, customer solutions, sales and marketing. He is a Board member of CRISIL, The US-China Business Council and Asia Society Business Council.Mr. Gurdeep Singh PallMr. Gurdeep Singh Pall is the corporate vice president for the Office Communications Group at Microsoft Corp. and part of the Microsoft Business Division's senior leadership team. He is responsible for vision, product strategy and business development, and R&D for Microsoft's Unified Communications offerings, including Microsoft Office Communications Server, Microsoft Office Communicator, Microsoft Office Live Meeting service and Microsoft Office Communications Online.Mr. Pall joined Microsoft in January 1990 as a software design engineer. He has worked on many breakthrough products in his tenure, starting with LAN Manager Remote Access Service. He was part of the Windows NT development team, working on the first version of Windows NT 3.1 in 1993 as a software design engineer, all the way through Windows XP in 2001 as general manager of Windows Networking. During his work on Windows, he led design and implementation of core networking technologies such as PPP, TCP/IP, UPnP, VPNs, routing and Wi-Fi, and parts of the operating system. He co-authored the first VPN protocol in the industry – Point-to-Point Tunnelling Protocol (PPTP) – which received the prestigious Innovation of the Year award from PC Magazine in 1996. He also authored several documents and standards in the networking area in the Internet Engineering Task Force (IETF) standards body in the mid-1990s. Mr. Pall was appointed general manager of Windows Real-Time Communications efforts in January 2002 and helped develop a broad RTC strategy that led to the formation of the Real Time Collaboration division and acquisition of PlaceWare Inc. (now called Microsoft Office Live Meeting). Since then, Pall has led acquisitions of Page on media-streams.com AG and Parlano and key industry partnerships. Microsoft's Unified Communications efforts have received many technical and design industry awards. He was named one of the 15 Innovators & Influencers Who Will Make A Difference in 2008 by Information Week. Mr. Gurdeep Singh Pall recently co-authored "Institutional Memory Goes Digital," which was published by Harvard Business Review as part of "Breakthrough Ideas for 2009" and was presented at the World Economic Forum 2009 in Davos, Switzerland.Mr. Pall has more than 20 patents (in process or approved) in networking, VoIP and collaboration areas. He holds a master's degree in computer science from the University of Oregon and a graduate degree in computer engineering from Birla Institute of Technology, Mesra, Ranchi in India.Mr. Sanjay NayakMr. Sanjay Nayak is the Co-founder & Chief Executive Officer of Tejas Networks, a leading optical networking product company from India. Mr. Nayak is a technologist with over 18 years of industry experience in India as well as the USA. Prior to founding Tejas, he held senior management position in globally leading Electronic Design Automation companies such as Synopsys (where he was the Managing Director of Synopsys-India) and earlier at Cadence Design Systems. Mr. Nayak holds an M.S. in Electrical and Computer Engineering from North Carolina State University, Raleigh and B.E in Electronics and Communication Engineering from Birla Institute of Technology, Mesra.Mr. Sukant SrivastavaSukant Srivastava is Managing Director and Country Manager for Convergys Corporation’s Customer Care business in India. He is responsible for overseeing the operations of Convergys’ eight contact centres and 11,000+ Customer Care employees in India, directing relationships with National Government officials and representing Convergys in key industry forums and associations. Additionally, he focuses on driving Convergys’ Relationship Management brand position in India, enabling talent acquisition and continued leadership in the rapidly growing business process outsourcing market. Mr. Srivastava reports to Clint Streit, president of Customer Care, and is located in Gurgaon, India. Prior to joining Convergys, Mr. Srivastava served in a variety of global leadership roles with Keane, Inc. His most recent assignment was as managing director for Keane’s Indian operations. In this position he served as a transformation agent for enterprise-wide change initiatives, including a shift to a globally integrated business model. Previously, he was vice president of Global Services Integration for Keane.Mr. Srivastava holds a Bachelor’s degree in Electrical Engineering from the Birla Institute of Technology in Ranchi, India and a Master’s degree in Business Administration from the University of North Florida.Dr. Shree K. NayarDr. Shree K. Nayar did BE in electrical Engineering from Birla Institute of Technology, Ranchi, India in the year 1984. He received his PhD degree in Electrical and Computer Engineering from the Robotics Institute at Carnegie Mellon University in 1990. He is currently the T. C. Chang Professor of Computer Science at Columbia University. He co-directs the Columbia Vision and Graphics Center. He heads the Columbia Computer Vision Laboratory (CAVE), which is dedicated to the development of advanced computer vision systems. His research is focused on three areas; the creation of novel cameras, the design of physics based models for vision, and the development of algorithms for scene understanding. His work is motivated by applications in the fields of digital imaging, computer graphics, and robotics.Dr. Shree K. Nayar has received best paper awards at ICCV 1990, ICPR 1994, CVPR 1994, ICCV 1995, CVPR 2000 and CVPR 2004. He is the recipient of the David Marr Prize (1990 and 1995), the David and Lucile Packard Fellowship (1992), the National Young Investigator Award (1993), the NTT Distinguished Scientific Achievement Award (1994), the Keck Foundation Award for Excellence in Teaching (1995) and the Columbia Great Teacher Award (2006). In February 2008, he was elected to the National Academy of Engineering.Dr. Arup Roy ChoudhuryDr. Arup Roy Choudhury is a firm believer in achieving team-excellence through transformational shift to proactive, positive and personalized approach. Having experience in private and public sector organizations, Dr. Arup Roy Choudhury has an illustrious career of about 35 years during which he has been holding the position of CEO for over thirteen years. An engineering graduate from BIT-Mesra, he completed his post graduation and doctorate from IIT-Delhi and fol lows the motto “Sankalpa Shuddha Hi Siddha” i.e. if your intentions are pure, you are bound to succeed.Becoming the youngest CEO of a CPSE at the age of 44 years, he scripted a stunning turnaround story as CMD when he transformed NBCC, which was a sick company with negative net-worth and salary backlog in 2001, into a blue-chip enterprise having 'Schedule A’ and ‘Mini Ratna’ status bestowed upon it by the Government of India. The transformational turnaround of the Company brought about by him enabled NBCC’s turnover grow about 10 times and net-worth over 500 times during his tenure of nine-and-a-half years at the helm (Annexure-I). He pulled NBCC out of the abyss and catapulted it into the distinguished league of ‘Top Ten CPSEs’. Under him, NBCC broadened its business horizons and paid its maiden dividend to the Govt. of India for the year 2006-07, after 45 years of its incorporation.Dr. Choudhury now heads NTPC Limited, the 10th largest power producer in the world and ranked as #1 Indepedent Power Producer by Platts (part of the prestigious McGraw Hill Group). NTPC is acknowledged as the best company in the world for capacity utilization. NTPC is also one of the seven largest Central Public Sector Undertakings of India, designated as a ‘Maharatna’.Since taking over as CMD-NTPC in September, 2010, Dr. Choudhary has been positioning the enterprise on course to become the largest and best power producer in the world.In a period of three and a half years of Dr. Choudhury’s leadership, NTPC has already added about 10,800 MW, which is over one fourth of its total installed capacity of over 43,019 MW built in over 38 years. NTPC’s turnover is around Rupees 68,800 crore (about USD 12.5 Billion). NTPC's financial performance in 2012-13 has been exceptionally strong with a Profit After Tax (PAT) of about Rs. 12,600 crore (about USD 2.3 billion), an increase of about 37% over the previous year's PAT.Dr. Choudhury steered the process of ‘Offer for Sale’ for disinvestment of 9.5% stakes of the Government of India in NTPC, garnering over USD 2 billion (About Rs. 11,500 Cr). This was oversubscribed by 1.7 times with 45% coming from foreign investors. NTPC's issue for Tax Free Bond of Rs. 1,000 crore in December, 2013 received overwhelming response from the investors with oversubscription of 3.37 times.Dr. Choudhury, as Chairman of Standing Conference of Public Enterprises (SCOPE) - the apex forum of over 200 Central Public Sector Enterprises (CPSEs) in India - for two consecutive terms of two years each (From April 2009 to March 2013) effectively led policy advocacy for greater empowerment of these enterprises. He led a team of select CEOs to the Prime Minister and still remains the flag-bearer of Central PSUs.Dr. Choudhury figures at # 40 among 'India Inc's 100 Most Powerful CEOs 2013' in the list released by The Economic Times.Dr. Choudhury has received several national and international awards, including the Award for ‘The Best Organizational Turnaround’ from Hon. President of India in 2006, ‘Top Ten PSU and Turnaround Award’ from Hon. Prime Minister of India in 2007 and ‘Best Individual Leader of a Public Sector Enterprise’ from Hon. Prime Minister of India in 2010.Dr. Choudhury has captured his rich experiences and insights into a very well received book titled – 'Management by Idiots'.Mr. Anjan LahiriMr. Anjan Lahiri serves as President and CEO of MindTree’s IT Services business and is stationed in Bangalore. In this role he is responsible for all aspects of MindTree’s IT Services business around the world.Prior to relocating to Bangalore in 2008, Anjan spent five years in London setting up and then growing MindTree’s European Operations. In 1999 when he joined MindTree as a part of the founding team, he helped set up MindTree’s New Jersey office and then led MindTree’s US West Coast Operations from San Jose, California from 2000 to 2003 before relocating to London.Prior to MindTree, Anjan was a Director with Cambridge Technology Partners. He was part of the initial group, which started Cambridge’s internet services consulting practice. Anjan started his professional career with Wipro Infotech in 1987. By 1991 when he left to pursue higher studies in the US, he was a Territory Manager in Wipro’s Kolkata office.Anjan Lahiri received a BE in electronics engineering from the Birla Institute of Technology, Mesra, Ranchi.Mr. Pawan Bhageria1983 Mechanical Engineering-Gold Medalist and MBA from XLRI, Jamshedpur His 26 years of experience in Automotive / IT Industry includes Manufacturing, New Plant Commissioning Projects & all aspects of Information Technology with special focus on automotive & manufacturing industry. He has held leadership positions in large corporations of repute in India and abroad in Global cross-cultural business and technical environment.Key areas of work :Business aligned IT strategic planning and its execution,Process re-engineering & Efficiency Modeling .ERP (SAP/Oracle/Others) Global Implementation.IT Operations Managemen.IT Audits & ComplianceLarge Contract Negotiations & Vendor ManagementOrganization Change ManagementHe was Head of IT for Tata Motors & Strategic Account Manager at Tata Technologies before joining General Motors in 2006. Currently part of GM International Operations as IT Director.Mr. Himanshu KapaniaMr. Himanshu Kapania has been the Managing Director of Idea Cellular Limited since April 1, 2011. Mr. Kapania served as Deputy Managing Director at Idea Cellular Limited until April 1, 2011. He served as the Chief Operating Officer - Corporate and Director of Operations for Idea Cellular Limited.Mr. Kapania joined Idea in September 2006 with over 21 years of industry experience. He worked with Reliance Infocomm as their Chief Executive Officer for Northern Operations covering Punjab, Haryana and HP as for three years, with IDEA Cellular Ltd., as Chief Operating Officer for over six years, with Network Ltd., as Dy. General Manager - Marketing for three and a half years, with Shriram Honda as Manager Marketing for over three years and with DCM Toyota as Sr. Executive for five years. Mr. Kapania serves as a Director of Idea Cellular Limited. He is a BE in Electrical & Electronics from Birla Institute of Technology, Ranchi and a postgraduate from the Indian Institute of Management, BangaloreM. M. Singh (Batch of 1974)M M Singh is the Chief Operating Officer, Maruti Suzuki India LimitedHe leads Production vertical at Maruti Suzuki India Limited. He is responsible for rolling out 1.2 million cars from Maruti stable every year with assets under control (AUC) of USD 5 billion (Rs 30,000 crores). All manufacturing facilities at Gurgaon, Manesar , Gujarat reports to him. He leads a team of 20,000 people at 10 plants consisting of more than 150 departments.His leadership led to production of high Quality cars which were exported to EU, Latin America and Middle East, and Topping CSI and APEAL ratings in India. Every year Maruti exports about 120,000 cars made in India. During his leadership an Indian manufactured car became World’s largest selling auto brand, Alto, beating models like Polo and Accord.He is Chairman of SIAM ( Society of Automobile Engineers) Logistics, Co-chairman of FICCI Manufacturing National Committee and Chairman of CII North manufacturing committee.He has received inspired manufacturing fraternity with his patented thought process called “Production Managament System” which has set revolution in manufacturing sphere by combining Japanese practices with Indian wisdom and capturing the passion of western management.M M Singh is from the BIT BE (ECE) Batch of 1974Sudhir Mohan TrehanSudhir Mohan Trehan is Executive Chairman of Avantha Power & Infrastructure Limited and Vice Chairman of Crompton Greaves Limited.A gold medallist in mechanical engineering, he graduated from Birla Institute of Technology, Ranchi. He received his Master’s degree in operational research from State University of New York at Stony-Brook, U.S.A., and successfully completed the Advanced Management Program (AMP) from Harvard Business School, Boston, U.S.A.He joined Crompton Greaves Limited in 1972 and, over the years, has held several positions of responsibility. He was appointed Managing Director of the company in 2000 and, on his retirement in June 2011, was named Vice Chairman. He is a member of the Avantha Management Board, which formulates strategy at the Group level. He is also Chairman of the Board of Governors at Thapar University.Sudhir is a highly respected and widely recognised business leader. He was named “Outstanding Chief Executive” for 2000-2001 by the Indian Institution of Industrial Engineering. In recognition of his contribution to the Indian industry in general and the management movement in particular, the Bombay Management Association (BMA) unanimously conferred upon him the “Management Man of the Year Award” for 2005-2006. He was named Business Standard CEO of the Year for 2008-09.Sudhir has worked in various capacities with industry bodies, including BMA, Confederation of Indian Industry (CII), Indian Electrical and Electronics Manufacturers Association (IEEMA) and Nashik Industries & Manufacturers’ Association (NIMA). He was Chairman of CII’s Western Region.His interests include golf, cricket and reading.Mr. R. K. Gupta (Batch of 1965)Founder & Chairman, Laxmi Publications Group & President Emeritus BITOSA DelhiMr. Gupta is founder of Laxmi Publications Group. He has over 35 years of publishing experience. A wellknown figure in the Indian Publishing Industry, he was Ex-President, Federation of Educational Publishers in India. Apart from a distinguished personality in publishing industry, Mr. Gupta has actively taken part in promoting sports in India. He has head many international delegations. He was Secretary, Winter Games Federation of India, President, Ice Skating Association of India, Secretary, Winter Games Federation of India, Member, and Indian Olympic Association. He did Mechanical engineering from BIT Mesra.Mr. Pramod Taparia (Batch of 1966 )Founder & Chairman, Wintech TapariaMr.Pramod Taparia (popular as PT) is an entrepreneur, facilitating the food processing industry, by doing required pioneering work in India. At an age of 35 years, in 1985, PT got an award from the Vice President Shri Ramaswamy Venkataraman of India for being a "Self made Industrialist", at Delhi. Collaborating with the Swedish, in 1986, he founded a company offering international Technology & Equipments at an affordable price in India. This company, together his Scandinavian partners, pioneered Potatoes, Vegetables and Seafood processing & packaging in India. In addition to a formal degree in engineering, he went in the year 1993, for an Advance Management Program of few weeks, to a well known institute in Stockholm, Sweden.Mr. Niraj Sharan (Batch of 1976)Founder, Chairman & CEO Aura Inc.Mr. Niraj Sharan is the Founder-Chairman and CEO of Aura Inc., since 1989, a leading Global enterprise catering to the global ENERGY sector through Engineering, Manufacturing & System Integration. He is also Founder & Co-Chairman, Aurys s.r.l, Italy, a leading Technology Consulting and full service Engineering Company in Oil & Gas sector. He sits on advisory Board of several For Profit and Non-Profit companies out of USA, India & EUin Technology, Health Care and Clean Energy verticals. He is “Member, Technical Expert Committee - Government of India,under Department of Science & Technology since June 2009.”, “Special Invitee” to the US Endowment Board on US – India Joint Commission on Science and Technology formed under agreement of President Obama and Prime Minister Manmohan Singh.Mr. Sunil Jain (Batch of 1977)Chief Operating Officer & Head-Wind, Green InfraSunil is the COO of Green Infra. He has over 27 years of experience in the engineering industry, particularly in the auto and infrastructure sectors. He has extensive experience in business development, both in the domestic and international markets, and in handling commercial negotiations with customers and vendors alike. Mr. Sunil is also the President, Northern Region Council and Member National Council of Indian Wind Power Association. Sunil is a Mechanical Engineer from BIT Mesra and holds an MBA from Faculty of Management Studies, Delhi University.Mr. Rajiv Nag (Batch of 1971)Founder and Chairman, CyberQ Consulting & Senior Advisor at KPMGSenior Advisor of KPMG ,The founder and Chairman of CyberQ Consulting Pvt. Ltd., Dr. Rajiv Nag is amongst the world's top-notch consultants in the areas of Process consulting who has helped organizations put their processes in place. With over 25 years of experience around the world in the areas of Software Project Management, Quality Assurance and System Testing, Development of Software Integrated Management Systems, Functional and System Integration, Application Systems Development, System design, Strategic management consultancy, Development of Quality Management Methodology and Information Security initiatives.Shri T. Venkatesh, I.A.S. (Batch of 1979)Chief Vigilance Officer (CVO) & Board Member, NTPCShri Venkatesh is an Indian Administrative Service officer of 1988 batch of U.P. Cadre. Prior to his assignment as Jt. Secy. (DOPT) in the Ministry of Personnel & Public Grievances & Pension, he held various administrative posts including DM (Bareilly), Commissioner (Gorakhpur) and Secretary (PWD) in the state of Uttar Pradesh. He is looking after the work of CVO and also on Board of Directors of NTPC since October, 2009. He has done Mechanical engineering from BIT Mesra and is post graduate in same.Mr. Ashutosh Pande (Batch of 1983)Managing Director (India) and Global Vice President & GM ISBU at CSR Technology (India)Mr. Ashutosh specializes in market creation for new technology and products. Strategist, visionary and sharp thinker, he is currently Member Governing Council at Association of Geospatial Industries and also heads an incubation unit within the company where they are exploring avenues that will allow CSR to diversify beyond chipsets into services. He holds MS in Electrical Engineering from University of Alberta, USA and B.E. in Electronics & communication from BIT Mesra.Mr. Nirankar SaxenaDirector, Federation of Indian Chambers of Commerce and Industry (FICCI)Mr. Saxena heads the Business Information Services Network Division (BISNET) at FICCI and manages multiple project portfolios. His responsibilities include networking with leading senior Government officials,industrialists‟ and the diplomatic corps in India as well as the visiting foreign dignitaries. Prior to joining FICCI, he was Chief Executive Officer of Osprey Software Technology (P) Ltd and Director of Team Computers (P) Ltd. He holds a Page on b.e.in ComputerSciences from BIT Mesra.Mr. Ajay Pathak (Batch of 1977)Joint Secretary, Ministry of Road & Surface Transport, GOIFormer Joint Secretary at Ministry of Finance, he is now Jt. Secretary at Ministry of Road and Surface Transport. He has done his Civil Engineering from BIT Mesra.Mr. Jagdish Mitra (Batch of 1988)Chief Executive Officer of CanvasMAt CanvasM, he leads a team of over 600 associates that are focused on providing solutions that enable customers and enterprises take advantage of the mobile ecosystem. With over 20 years of experience in the areas of business development and marketing in the global information services market. Under his leadership, CanvasM has been awarded the “Best Start-Up Company” at the Mobile Content Awards 2008 held in London.Mr. Atul Kansal (Batch of 1984)Founder and Managing Director, INDUS EnviroMr. Kansal is Founder and Managing Director of INDUS Enviro and is responsible for its activities in India and the neighboring countries. He has more than 18 years of diversified consulting experience in Environmental Health & Safety (EH&S) Management particularly in EH&S Compliance and Due-Diligence Auditing. Over last 18 years, he has worked on more than 350 environmental projects in a variety of sectors. He has done his Civil engineering from BIT Mesra and Masters from IIT Roorkee.Mr. Annup Damani (Batch of 1979)Managing Director at Alloy CastMr. Damani is Managing Director at Alloy Cast (P) Ltd. Today, under his leadership, the company now boast of a capacity of over 3, 50,000 to 4, 00,000 castings per month. It has factories to cater diversified range of products and services encompassing industries like automotive, hardware, plumbing and heating controls.Mr. Abhishek Sinha (Batch of 1995)Co-founder & CEO of Eko India Financial Services Private LimitedEko democratises access to formal financial services using mobile phones as a financial identity for people at the bottom of the pyramid. Eko stands out for simplicity of user experience while still ensuring secure transactions.Eko has partnered with 1,500 retail stores bringing banking services at the next-door grocer for close to 1 million customers. Eko processes over $ 1 million every day and has processed close to half a billion dollars in transactions so far! Eko listed amongst top 10 most innovative companies in India by Fast Company | Business + Innovation!SOURCE:- www.bitmesra.ac.in

The first BPO jobs appeared in India in the early 1990s and covered tasks like resolving customer complaints on the phone, mostly for rich, global organisations.But, by the late ’90s, the BPOs had become ambitious, attained international quality certifications, built larger call centres and undertook more complex business processes to be managed from India. They even expanded operations with local centres close to their clients.A case in point is WNS. In 2002, the company was by and large a call centre with the staff answering calls of their clients’ end-customers and providing basic services like helpdesk. Today, its employees are equipped to perform more sophisticated tasks like advising on a caller’s insurance policies.This transformation has enabled India’s IT enabled Services (ITeS) sector, which includes BPOs, to stay afloat even as its twin, the IT sector, grapples with technological disruptions. The ITeS sector, which currently employs 1.2 million people in India, garnered revenues of $29.8 billion in FY17, a 1.7 times increase from five years ago, according to data from Nasscom, the trade body that represents the IT and ITeS sectors.While voice calls will remain an important part of the business, the profile of the call centre agent has changed dramatically, says Murugesh. “Clients have been capturing their consumers’ transaction data [online purchases, Google searches and social media posts] for years. Now, with the shift in how end-consumers interact with businesses—toting smartphones, expecting speed, convenience and security—the time is ripe to tap that data,” he says.Over time, BPOs have gained their clients’ trust, and their scale, complexity and depth of operations have increased. They are now in the game of Business Process Management (BPM), which requires far greater competence as it involves a systematic approach to making a client’s workflow more efficient.Companies such as WNS today handle ‘end-to-end’ processes for some of the world’s biggest insurance companies, airlines and hotel chains, says Murugesh, 54. WNS’s clients include British insurance provider Aviva, Australian finance, insurance, and banking corporation Suncorp Group, and US-based medical device maker Zimmer Biomet. Its operations now span across 52 locations in 14 countries.It also applies technologies like machine learning, Internet of Things (IoT) and predictive analysis to elevate the quality of customer service for their clients’ end-consumers. “Say a trucker transporting perishables in the Australian outback gets a busted radiator, he intimates the emergency team and a WNS call centre agent in Pune, with the requisite domain knowledge, resolves the insurance claim on urgent repair expenses within minutes,” says Murugesh.This is possible because WNS has invested in both hiring and training staff to speak its clients’ “domain language”, Murugesh says. Among WNS’s nearly 20,000 staff are some 9,600 with accounting skills and 2,200 with varying proficiencies in data analytics, including chief medical officers and chief data scientists.BPM companies have also invested in their own intellectual property. WNS has a proprietary automated ticketing management solution that is deployed when flights are delayed or cancelled. This helps service aviation clients like Virgin Atlantic.India’s BPM industry accounts for 37 percent of the global sourcing market, and, by 2025, Nasscom projects that its revenues will increase to $50-55 billion. Between 60 and 70 percent of this will come from ‘digital streams’—BPM services that involve digital solutions-b toased work like intimating an airline passenger about lost baggage on her smartphone app. Fully geared up for the transition, BPMs have ensured they stay relevant to their clients.Also read this et article.US warns 'India-based call centre scam industry'NEW YORK: The US government is taking aim at the "India-based call centre scam industry", Assistant Attorney General Brian Benczkowski has warned while announcing the extradition of an Indian citizen from Singapore allegedly involved in a multi-million dollar racket.Hitesh Madhubhai Patel, 42, who operated the HGlobal call centre in Ahmedabad, was extradited to face trial on charges relating to the scam that allegedly ripped off thousands of Americans of millions of dollars using people in call centres impersonating US government officials, the Justice Department said Friday.Patel was arrested and produced on Friday in a federal court in Houston, Texas, where Magistrate Judge Peter Bray remanded him to custody, according to a court document. He is to appear in court again on Wednesday."This extradition once again demonstrates the (Justice) Department's unwavering commitment to disrupt and dismantle the India-based call centre scam industry and to work with our foreign partners to hold accountable those who perpetrate schemes that defraud our citizens," Benczkowski said.He added that "Patel operated a call centre that allegedly preyed upon vulnerable U.S. citizens as part of a massive fraud scheme".After Patel flew from India to Singapore, he was arrested there on September 21, 2018, at the request of the US, and Singapore Law Minister K. Shanmugam issued a warrant on March 25 to hand him over to America, the Justice Department said."This historic extradition should serve as notice to transnational criminal organisations of the lengths DHS (Department of Homeland Security) is willing to go to arrest those who would enrich themselves by extorting the most vulnerable in our society," said David Green, the Special Agent in charge of the DHS Houston Field Office.He warned of global action against the owners, managers and employees of overseas call centres, saying: "Our pursuit of justice for victims of their scams does not stop at the water's edge."Patel was charged in 2016 along with 55 people, most of them of Indian descent, and five companies in the alleged massive scam.The India-based call centres allegedly impersonated tax or immigration officials and called people in the US and threatened them with arrest or deportation if they did not pay what they claimed were back taxes or fines, according to the chargesheet filed against them.When their victims agreed to pay, the people at the call centre arranged for payments to be collected in the form of store cards or wire transfers by their co-conspirators in the US, who cashed them often using stolen identities and laundered the money, according to the charges.In other instances, they offered people fake loans and collected fees for the lending that never materialised.Since 2013, the tax official impersonation scam "has been on a relentless path, claiming more than 15,000 victims who have collectively suffered over $75 million in losses", said Treasury Inspector General J. Russell George.The fraud calls originating from India that are received by millions of Americans are hurting the country's reputation as a hub for back office, tech support and call centre operations.In recent weeks, at least three persons of Indian descent have been sentenced to prison terms in cases of tax official impersonation.A federal court in Florida sentence an Indian on Thursday to eight and a half years in prison and last month another person of Indian origin to eight years and nine months.In a separate case, Indian was sentenced to 16 months in prison by a federal judge in Atlanta earlier this month.