From The President

“If you think for positive things in life, you will find
them.”

Over the last few months I have got used to hearing gloomy
predictions, meeting people with worry and concern writ large on their face, and
walking into business meetings which discuss a bleak future. So, when I bumped
into an old friend from the IT sector beaming from ear to ear, I was pleasantly
surprised. I enquired whether he had got a promotion. “No, in fact I have been
asked to take long leave, possibly some time before they show me the door !” he
laughed, “But I have never enjoyed life more than I have in the last month. I
just learnt what a great family I have. I have experienced a number of joys
because I stopped to pause and ponder something which I have not done in the
last ten years. As for my job, I will find a new one when I lose the one that I
have.” His words really set me thinking. I marvelled at his attitude. Any other
person would have grieved that he was about to lose his job and here was my
friend having a whale of a time with his family. It was all due to a positive
attitude.

If one really makes an analysis, the economic slowdown has a
large number of positives. The first is that we will all start to think and act
rather than react. When life is going at full pace we all tend to react to
situations; when things slow down we will have to be proactive and make things
happen, a habit which many of us have forgotten in the recent past.

The second positive is a welcome change in the mindset. The
situation has now forced us to do away with the linear mode of thinking. The
thought process of most people, especially those who belong to our profession is
to rely on precedent and predict the future. We tend to bench-mark everything on
past performance and past experience. Recent events have proved that the past is
not necessarily an indicator of future. Once we make a break from the past, we
will recognise and rediscover our ability to innovate. Some of the business
failures in the United States have not been on account of the financial crisis
but a sheer failure to innovate and deliver the products that the consumer
needed.

Another very significant positive fallout of the financial
turmoil is the recognition of the need to save in generation next. I saw this
manifestation when I visited a young relative of ours who is working with a
large KPO. A management graduate, she used to try and convince me that spending
drove economic activity and therefore needed to be encouraged. I was therefore
surprised to learn that she had decided not to go on her annual foreign jaunt,
but would settle for a short holiday in Kerala. I enquired as to whether her job
was safe. “Yes it is as of now, but who knows ?”

Having dwelt upon all these positives on the human front, I
think the single most important lesson that we have learnt is that the western
world is not infallible, and the United States is certainly not. For long, a
large part of the world has looked upon the U.S. as a powerful, super rich
saviour, whose actions were to be emulated. For more than six decades the US has
played the role of Big Brother. The follies that the institutions in the US and
the rest of the western world have committed have not only been witnessed by the
rest of the world, it is likely to suffer from their acts of commission and
omission in the next few years.

On the professional front, I believe this slowdown is a great
opportunity to sit down and introspect. Many of us have been accepting the
unending flow of professional work without paying heed to the creaking
infrastructure and the strain on our existing systems. Some of the problems the
profession has been facing are on account of lack of training of articled
students and staff.

In the next few years the government will have to increase
its spend on infrastructure in general, while we must invest our time and effort
enhancing the knowledge-base of our staff, remembering to upgrade our own
skills. Multidisciplinary firms are a reality. We must explore these
possibilities and network. When the inevitable turnaround comes, we must be
ready to seize all opportunities.

We must end 2008 on a cheerful note. Do not let the prophets
of doom bother you. Go on a holiday with your family and friends. If you are in
‘Aapli Mumbai’, enjoy whatever ‘winter’ the city offers you. Goodbye 2008 and
welcome 2009.

With warm regards,

P.S. :

As this issue goes to the press, the country has been facing
one of the gravest terrorist attacks. In the past two days we have seen in the
media, exemplary courage, and supreme sacrifice from the security personnel,
hotel staff, ordinary citizens, who beyond all were Indians. We salute these
brave individuals. We only hope that the powers that be, recognise this
sacrifice and act quickly, decisively. It is a time that we stand united and
show the world that our buildings can be attacked and weakened but our spirit
can never be. We the BCAS family are with those who lost their near and dear
ones. For those who are battling for their lives, we pray for a speedy recovery.
We pledge our support in the huge tasks that lie ahead. It is our duty not only
as professionals, intellectuals, but as concerned citizens of this great
country. We must demand competent governance from those in power. If we all
contribute our mite, India will emerge as a strong, vibrant nation.