Domination December 2012

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Editorial .Dear Readers, It is December, a month of Holidays and festivals!! As we are gearing ourselves for XMas and new year celebrations (particularly when Mayans were proved wrong), we are also looking forward for a new vision 2020. India road to a sustainable growth is aptly written article by Mr. Saurabh Paul which talks about some major challenges faced by India and how Indian growth can be sustainable. Taxes are always an inof quiz section for quiz maniacs and also a beautiful poem by Mr. Ashish Aggrawal. On the other hand, it contains interview of the Mr. Jitendra Solanki. Mr. Jitendra Solanki belongs to the very first batch of DoMS which came out in

session with lot of curiosity.Amidst all fun and excitement, we present you another edition of Domination. We hope you would find it interesting. This months edition features a lot of articles from a diverse range of topics. The cover story for this edition is a very

teresting point of discussion.Any new development related to taxes generates a lot of curiosity. Mr. Abhay Kumar, presents another thought provoking piece about Taxes & GAAR and its possible impact. This Domination edition also covers an appealing piece from one of

2000. Additionally, we havesuccess story column with Mr. Pradeep Baijal, one of the most distinguished alumni of IIT Roorkee. We are constantly trying to upgrade Domination. From this month, we have added a new section for current events

relevant topic Industry Interaction in Educational institute by Mr. Rohan Krishnan. The author analyses the gaps in industry-academia relationship in Indian context and suggests ways to improve the scenario. We also have another topic which is very close to Indias

our own alumni Mr. Amiteshfrom 2002-04 batch. The author tries to highlight some of the business situations in a new fashion. Domination has never lacked creative side. And we have lots of things to show off. This edition has another round

at DoMS, IIT Roorkee. We hopethis new change will be liked. Your suggestions, reviews and comments are always welcome to improve our efforts. With this hope we wish you a very Happy Reading and Merry Christmas ! ! !

02 | Domination, December 2012 Department of Management Studies, IIT Roorkee

ContentsEditorAnurag Agrawal

08 04

Team DoMinationAditi Joshi Manav Kaushik Manoj Kumar Pawan Upadhyay Priyank Singhal Rohan Krishnan Ruchi Gupta Saumya Dani Saumya Verma Saurabh Paul Sharad Srivastava Sushant Sachdeva Shibi SinghSustainable Growth To do List 2013-I Industry Interaction GAAR





Designing TeamRitesh Kumar Sabhariswaran P Saurabh PatelSmile DoMS Spotlight





23Success Story

Roorkee - 247 667, India Tel: +91-1332-285014, 285617 Fax: +91-1332-285565 Email:

DoMS da Evince

03 | Domination, December 2012 Department of Management Studies, IIT Roorkee

Cover Story .

Industry InteractionEducational institutions today play the role of a factory soft skills of the candidates that the companies actually look With all these changes the demands of industries today also

involved in the production ofhighly skilled manpower for the benefit of the industries. Academic institutions have constantly adapted innovative methodologies in education to better equip their students. Industries on the other hand demand a great deal of commitment and flexibility from their new employees to suit the global dynamics in business. Academic qualifications are merely used as tools to distinguish candidates' eligibility at the entry level, while it is the industrial proficiency and

for. Hence a symbiotic marriage between the industry and educational institutes has become critical in modern times. All educational institutes churn out students with good grade point averages. The question is how many of these students can adapt and apply all that the knowledge they have absorbed in pragmatic situations that they would encounter on a daily basis in the industry. The world has now become a global village. The technological revolution has taken a firm grip on every aspect of life.

keep changing rapidly. In orderto meet these demands a regular, long term and concrete association of industries with our educational institutions is an absolute must. The question is why has the need for this interaction become so essential in modern times? One of the prime reasons for this would have to be economic liberalization. Economic liberalization has brought about increased competition with the entrance of new private companies in the market.

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez Ieconomie | DoMS Spotlight04 | Domination, December 2012 Department of Management Studies, IIT Roorkee

Industry Interaction . It has become The sur- through continuous activities ness amongst students aboutvival of the fittest where industries have to keep innovating in order to stay ahead of the competition. Thus industries need quality and innovative manpower who can think on their feet and according to the given like Guest lectures, Industrial visits, case studies borrowed from actual industrial situations. To provide Students with facilities for industrial training and the opportunity to the latest in technology, expectation from fresh graduates and the various industrial processes and safety measures used. These could be done intermittently. 2. Seminars could be organized

situation. Thus it is very important for both technical and management institutions to produce graduates that the industry requires. This would be possible only if the institutes are well apprised of what the industries require and this will only happen through a continuous interaction between the two. Goals of the Industry- Institute Interaction. The broad goals of this interaction are stated below: To improve on the existing post educational graduate programs which both at the under graduate and level

work on live projects being undertaken by industries under the supervision of faculty and the professionals. To provide an exchange of personnel between the institute and user organizations. To undertake joint projects on research and development, using resources from both sectors for the benefit of society and the indigenisation of national economy. Everyone has heard of the popular saying It takes two hands to clap, it aptly fits in here as well. A sincere and consolidated effort is required from both sectors to make the

on a regular basis which couldsee active participation from experts in the industry and faculty from institutions having similar interests in the fields of research and development. This could expose all the activities carried out by both sectors and may lead to a collaborative effort in development work at a later stage. 3. Experts should be involved in the curriculum development of institutes so that they can emphasize the inclusion of topics which will improve the quality of graduates and better equip them for the challenges they will face when they enter

would help pass-outs cope withprofessional tasks as they enter the service without a need for an elaborate on service training programme. Raise the level of competence of both students and faculty in educational institutes

III model a success.Some of the activities that would play a key role in improving the interaction are as follows. 1. Guest lectures by prominent figures in the corporate sector would create a general aware-

the industry.4. Finally it is important that institutes involve experts from the industry in the evaluation of their students. It is also important to have internships organized by institutes by various corporates

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez Ieconomie | DoMS Spotlight05 | Domination, December 2012 Department of Management Studies, IIT Roorkee

Industry Interaction . which would help them to get stitutes has suffered a serious feeling and become one withthe experience of working in a firm and would also help them apply what they learn to get more out of their courses. Most educational institutes in the country have teaching staff with little or no industry experisetback due to the nonthe goals of the institution. They should work in unison towards building a rapport with the industry. This can be done by responding holistically to the needs of that particular industry. This is a gradual process acceptance of the status of teachers prescribed by various bodies. This has made the task of motivating teachers towards training programs and industry experience a cumbersome one.

ence and exposure. It is important that the institutes in collaboration with the industry organize training sessions depending on the seniority of faculty. This would enable to faculty to improvise on their teaching techniques and make it more pragmatic. This would make the experience more enjoyable for the students and would help them relate and apply what they have learnt to face corporate challenges. Like every other model there are some hindrances to this model as well. These obstacles often inhibit a linkage between the industry and edu-

Most diploma universities donot encourage faculty towards industry interaction. Continuing education programs for working professionals and student evaluation with the inclusion of experts from the industry are also largely missing. Many institutes do not have a deliberate policy to encourage among teachers the culture of innovation, research and practical problem solving. This nonchalant attitude invariably gets passed down to the students of the institutes as well. Senior faculty at most institutions does not appreciate the goals of the system and of the insti-

and cannot be done overnight.It is important for everyone from both sectors to be involved right from the principal and top management all the way down to students and shop floor workers. Only such a gradual linkage would help build a strong bond between the two sectors. On the other side of the coin it is important for the industries to discard all preconceived notions that they have about the lesser known institutes and work with them on improving their methodologies and thus the quality of students that they churn out. It is

cational institutes. Curriculumin most institutes is examination centric and often important concepts which would prepare a student for the industry are left out. The attraction for teachers to join various technical and management in-

tutions which prevent interaction with the industry. The question then arises as to how institutes can overcome such hindrances to make the link stronger? It is important that all faculty members put aside their personal

imperative that both sectorsrealize that a step from either end towards this cause would be largely beneficial to both and to society. Benefits to Faculty at the Institutes: It would help teachers

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez Ieconomie | DoMS Spotlight06 | Domination, December 2012 Department of Management Studies, IIT Roorkee

Industry Interaction . familiarize themselves with the up with solutions for the same. technology.latest products manufactured and processes used by the concerned industry which would help them prepare students better for such industries. It would help institutes orient themselves with the new and emerging areas of technology in industries. It would allow institutes to relate theory to practical situations which would help them deliver a better educational experience for students. It would enable them to be more aware of the job responsibilities of graduates in Fair insights into the working They could benefit from innoenvironment of industry help students in understanding the relevant trade with all its complexities and make better career-related decisions. Programs such as Industry sponsored R&D and PG programs, Consultancy programs in the industry, Training of faculty members in the industry and continuing education programs for industrial personnel, In plant training and industrial projects to students, apprentice training and revamped placement activities could all vative research and development work carried out by academic staff. This topic has been given so much importance as it is directly influential to the overall economic development of our country. India has some of the best educational institutes in the world. However, year after year these institutions keep dropping in rank. One of the main causes for this is the lack of industrial interaction. As our population increases so does the competition. People today

the industry.Benefits for the students: The subjects would be made a lot more practical which would make them interesting. Simultaneous application of the concepts learnt to actual industrial situation would help them understand the matter in a better way. It would improve the thinking capabilities of students which would be especially helpful for budding entrepreneurs. It would enable them to assimilate real world problems to different sectors and come

help in making the bondstronger. Benefits to Industry personnel: It would help enthusiastic personnel the opportunity to have higher education in their field of work which would help them innovate and improve on their productivity. It would give them a better understanding of imported technology and advanced techniques which would help them solve problems with greater efficiency. It would show them new ways to develop indigenous

only care about getting into thebest institutes and the best institutes only care about the grades they dish out to students. In this race the importance and quality of education is lost. Thus in India today there is a sad irony which stems from the fact that even after graduating from the best institutes in the country many students find themselves struggling to find employment. It is interesting to see where this link is heading. It is important that institutions cater to the changing scenario of

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez Ieconomie | DoMS Spotlight07 | Domination, December 2012 Department of Management Studies, IIT Roorkee

Industry Interaction .

the industry. Institutes should work on producing engineers and managers who are able to efficiently at different levels in the horizontal and vertical

corporates themselves. Continuing education would be another important factor as has been mentioned before. In todays day and age

industry plays the role of a partner in determining policies, course material and prescribing the characteristics of teacher appraisal and development,...