What's Inside?
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ISSUE 3, 2012 WHAT’S INSIDE? Sophisticated, Environment-friendly REVA Plant in Bengaluru World-class R&D and Test Centre at Mahindra Sona FES Nagpur Rolls Out 5,00,000th Tractor New Paint Shop and Transmission Assembly Plant at FES, Nagpur Plant Future Ready Two-Wheeler R&D Facility in Pune The values that are The Company holds By respecting the embedded in the working great promise and is dignity of the individual, culture of M&M are the poised to grow in the we motivate and ones laid down by the future driven by our encourage them to have Founders. talented manpower. faith in themselves. ISSUE 3, 2012 CONTENTS COVER STORY 04 QUALITY FOCUS 42 Chairman Mr. Keshub Mahindra has been elevated An in-depth focus on quality through training to Chairman Emeritus of the Mahindra Group. In an programs at the Mahindra Institute of Quality and exclusive interview with ME, he traces his eventful more. six-decade journey with the Group. AWARDS FOR GREEN FOCUS 06 EXCELLENCE 43 Mahindra Reva Electric Vehicles Pvt. Ltd., the new The last quarter witnessed a slew of honours and world-class green manufacturing facility in Ben- awards being bagged by Mahindra Group galuru, is part of the Mahindra Group’s vision for companies, products and people. the ‘Future of Mobility’. CORPORATE SOCIAL SECTOR BRIEFS 14 RESPONSIBILITY 51 As always, M&M Group sectors had plenty M&M Group employees reached out to the less happening by way of new launches, innovative fortunate across the country through a series of initiatives, international ventures and more… caring initiatives. METEAM Please write in to [email protected] to give feedback on this issue. Associate Editors: Zarina Hodiwalla, Darius Lam Soumi Rao Chandrika Rodrigues Charandeep Chawla Rajeev Malik AS MLDL Sheetal Choksey Preeti Nair Mahindra Finance Mahindra Navistar Asha Sabharwal Stella Rozario Nashik MTWL B. Suresh Pooja Thawrani Mahindra Consulting Mahindra Reva Cdr. Arvind Bansode Pradeep Zoting Engineers Igatpuri FES, Nagpur Pravin Narang Col. Abhijit Dasgupta MFCWL, Mumbai K.P. Narsimha Rao Pavitra Kamdadai Mahindra Management M&M, AS, Zaheerabad MNEPL Dev. Center Venecia Paulose Martin Cisneros MVML, Chakan Mahindra USA Mayank Maini MFCSL, Mumbai Edited and Published by Roma Balwani Nitin Panday Sabine Vogel (née Reeb) for Mahindra & Mahindra Limited, Gateway Mahindra Swaraj Mahindra Forgings, Santosh Tandav Mahindra Partners Building, Apollo Bunder, Mumbai 400 001. Purvi Ramanujam Europe Vrinda Pisharody Editorial and Design Consultants: Mahindra Intertrade Ltd. Danvir Kaur Tech Mahindra & Corporate Communication Services Systech Ravindra Kant Mahindra Satyam Rujuta Nadkarni For employees of the Mahindra Group and for M&M, FES, Kandivali private external circulation only, through the Mahindra Group. 2 ISSUE 3, 2012 EDITORIAL Dear Readers We have a very special issue of clearly walking the talk when it comes ME for you this time just as our to sustainability. beloved Chairman Mr. Keshub Mr. Keshub Mahindra, who has We also report on other landmark become the Chairman Emeritus Mahindra becomes the Chairman moments including the opening of Emeritus of the Group. of the Group, has given ME a Mahindra Two-Wheelers’ new research rare and exclusive interview Mr. Mahindra has given ME a & development centre in Pune, and the where he takes a look back at rare and exclusive interview, in first flight of the GA10 aircraft made his six decades at Mahindra. which he takes a look back at by our Australian aerospace subsidiary, His vision has built Mahindra his six decades at Mahindra. His GippsAERO. into the hugely respected vision has built Mahindra into the Don’t forget to read our in-depth and successful federation of hugely respected and successful interview with Ramesh Iyer of companies that it is today. federation of companies that it is Mahindra Finance, in which he details today. that company’s successful initiatives in As all of you already know, rural credit disbursal. Mr. Mahindra is the last of a We truly hope you enjoy this issue of generation of giants in Indian ME and look forward to your feedback. industry and has always been the living embodiment of the values Regards, on which the Mahindra Group was founded. You will be truly inspired by his words of wisdom and unbridled optimism for the future of our Group. The excitement continues with our story on the opening of the state- of-the-art Reva electric vehicle plant in Bangalore. This new facility gives our Sustainability initiative a huge boost. It uses a host of environmentally friendly technologies to manufacture cars that do not have any emissions. It is also the very first automotive plant in India to receive Platinum certification from the Indian Green Building Council. Mahindra is 03 ISSUE 3, 2012 COVER STORY Chairman Emeritus of the Mahindra Group, Mr. Keshub Mahindra gave ME a rare interview, during which he spoke about special events and milestones during his six decades with the Group, as well as his hopes and aspirations for Mahindra in the coming years… Looking back over your six decades at Mahindra, what are the important moments and events that stand out in your memory? It is virtually impossible to reply to your query for how does one find expressions adequate enough to reflect in a few words, the thoughts and actions of many decades? The philosophy of economic development adopted after attaining independence was for the public sector to attain the commanding heights of the economy and the private sector was strangulated with draconian laws pushing the country to a miserable annual growth rate of 3.5%! This was until the financial crisis of the late ‘80s which compelled the reforms of the early ‘90s. It was in this period that M&M’s character was shaped. The ability to operate in a hostile environment without succumbing to the temptations of the ‘Licence Raj’ moulded the ethics and values on which our business is conducted. There is no compromise in this regard. How did the Mahindra Group deal with the opening up of the Indian economy in the early 1990s? Reforms opened India to the world and the world to India. In spite of many misgivings, the true spirit of India’s entrepreneurship and innovation came to the front and Indian business, by and large, met the challenges of global competition. The economy grew by over 8% per year and the future was full of promise. Like most businesses, we evaluated our own business streams and attempted to understand the need to learn global practices and develop talent in the Company to meet the challenges of tomorrow. Our strength is our people. We believe that by encouraging people to think beyond, their power is limitless; by empowering people to act and work together, the results attained are beyond expectations. By respecting the dignity of individuals, we motivate them and encourage them to have faith in themselves. 04 ISSUE 3, 2012 COVER STORY Can you tell us more about the values that you have embedded into this organisation? The values that are embedded in the working culture of M&M are basically the ones laid down by the Founders of the Company. They are simple. Words in themselves have little meaning until they are reflected in your actions. What has been a great source of pride and delight for me is the unsullied reputation for integrity and principled action that our Group of companies enjoy, in spite of an increasingly murky environment. We have an open culture which leads to employee empowerment, unleashing the human potential, as we move ahead in our journey towards excellence. In applauding their performance, I thank everyone for their devotion to the value system under which the Company operates. What are your goals for the Mahindra Group over the next few years? The structures are in place. The Company holds great promise. It is now poised to grow in many diversified fields and is equipped with resources and manpower possessing the necessary talent to develop technology and use it to benefit society at large. Our sense of social responsibility drives us towards this objective. More broadly, what key issues does the country need to address, in order to accelerate its pace of growth? The national economic news over the past few months has been disappointing with many predicting GDP growth for the year to be as low as 5%! This is totally unacceptable in relation to our needs, as at this rate of growth we would not be able to harness the funds that are needed to eradicate some of the inequities and inequalities that exist in our society. To obtain inclusive growth, the government and the corporate sector need to work together to lift this rate to a minimum of 8% per year. I expect our Company to play a leading role towards this effort. The next few months are expected to be difficult; the global economic scene is not encouraging, while we at home find a solution to combat inflation and spur growth at the same time. Recent reforms announced by the government are welcome. Our political fragility adds to our woes and the ability of the government to govern will be determined by its ability to manage coalition politics. There will be many challenges and opportunities. The strength and talent of our human capital holds immense promise, as does our ability to face those challenges and take advantage of the opportunities. Lifetime Achievement Award from EFI Mr. Keshub Mahindra, Chairman Emeritus of the Mahindra Group and President Emeritus of the Employers Federation of India (EFI), was awarded the Lifetime Achievement Award by the EFI, at its National HRM Summit in Mumbai, on October 11, 2012.