B - School News
Samiksha: A Panel Discussion on 'GST & its implications on the Industry' Held at NITIE, Mumbai
Samiksha is a series of panel discussions organized twice a year by the students of Post Diploma Graduates of Industrial Engineering (PGDIE) - the flagship course of National Institute of Industrial Engineering (NITIE), Mumbai.
The panel in Samiksha comprises of Industry Stalwarts who enlighten the audience with their views. It takes the atmosphere of learning beyond the binds of class room & curriculum. Samiksha 2010 - February Edition was organized on 24th February on the most recent & single most important tax reform initiative in India since independence - Goods & Service Tax (GST) and its implications on the Industry. The theme was "GST - Strategies Restrategised".
The panelists for the evening were Capt. Uday Pasule, Director, Spear Logistics, Mr. Sanjeeva Prasad, Head, SC Consulting and Expertise Group, Dow Chemicals, Mr. Vishal Sharma, CEO, Tuscan Ventures, Mr. Ravinder Bajaj, Head, Solution and Supply Chain Strategy, AFL logistics Ltd., Mr. Ashish Gupta, Senior Manager, Internal Audit, DIESL - A TATA Enterprise. The panel discussion was moderated by Mr. P. R. Sanjai, Columnist, Aviation and Logistics, Mint.
Much awaited event Samiksha 2010 began at 2:30 PM with a presentation on Samiksha and NITIE to familiarize panelist with NITIE Culture. All panelists were given 15 minutes of time to express their views on various GST related topics. The presentation was followed by a panel discussion which was made quite lively and interesting by Mr. P. R. Sanjai (Mint) who skillfully extracted valuable information out of the esteemed panelists. Enumerating the most basic feature of GST Mr. Ashish Gupta (DIESL) said, "GST will be charged on consumption rather than production". The dual GST would significantly impact supply chains from procurement through manufacturing to distribution.
"Traditionally in India Supply chain is designed to reduce taxes rather than to optimize logistics", said Mr. Ravinder Bajaj (AFL logistics). For a typical FMCG company this could mean reduced inventory levels and smaller number of warehouses. This is equivalent to injecting around 15-20 billion dollars into the economy. "GST is easy to implement and hard to avoid", added Mr. Sanjeeva Prasad (Dow Chemicals). In a Post GST structure Supply chains will move from a Distributed Structure to a Hub and Spoke Model. The restructuring part by organizations like will not be without difficulties as it will require a cultural change to move from push model to a pull model.
The panel also discussed the effect of GST on a 3PL service provider. Typically in India less than 25% of logistics is outsource to 3PL. This is in sharp contrast to the developed nation where the percentage is almost 80%. "Supply chain should act as drivers of competitive advantage and a 3PL provides that benefit", reflected Mr. Vishal Sharma, (CEO, Tuscan Ventures) The Panel discussion successfully captivated the students who thoroughly enjoyed this informative session. With regard to careers for students from NITIE in the growing logistics sector, Capt. Uday Palsule (Spear Logistics) pointed out that," A CEO having Industrial Engineering background helps an organization to grow exponentially and he quoted an example of UPS.
In the concluding part of the discussion the organizers were highly praised by all the panelists for their professionalism in organizing the event. They were delighted by the hospitality, disciplined and very well cultured students of NITIE. Concluding the event, convener of the event and associate Dean Placements at NITIE, Prof. Ashok K. Pundir said that students should organize more such events based on contemporary topics for the benefit of all. This gives the students more industry exposure and knowhow of the corporate world.
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