Tamil Nadu - Tiruchi   

Synergy essential for business growth, say industrialists

— Photo: M. Moorthy

Success stories: The Past Chairman of CII Tiruchi Zone, N.P. Sivakumar, speaking at the conference in Tiruchi on Friday. (Left to right), B.A. Srinivasa, Director, Viveks Ltd., and S. Nagarajan, DGM, Circle Office, Canara Bank, look on.

TIRUCHI: The prevailing compatibility between industrial expansion and flexible approach of the banking sector was acknowledged as vital for sustaining business growth at the Business Expansion and Management Growth — BIZ GEMS — Summit organised by the Confederation of Indian Industry-South zone, here on Friday.

Speakers representing private industry and banking sectors recounted how constant adaptation of their respective approaches to customer needs and winning their trust could lead to a surge in industry turnover and lendings year after year.

Presenting the business success story of Viveks Ltd., from a turnover of Rs. 1.02 lakh in 1965 to Rs. 400 crore today, its Director B.A. Srinivasa said that the concepts of festival super sale, hire purchase and exhibitions spurred the retail industry prompting corporate entities to make ambitious forays.

Against a retail space of 350 billion US dollars in the country, the organised marketing at present was only a mere two percent.

In terms of employment generation, retail industry stood next only to the Information Technology sector in the country. Organised retailing would hasten development of the country while providing better choices to customers.

The Managing Director of Hi Tech Arai Ltd., B.T. Banghera, made a similar presentation to highlight how the company could reach Rs. 200-crore turnover mark from a humble beginning.

There was constant scope for offering quality products at competitive costs through optimising processes and building on internal competitiveness, he said. He observed that improvements could take place only in a competitive situation. He saw a corollary between building trust and surging productivity in an organisation.

Speaking on ‘Role of Banks in Business Growth and Expansion,’ S. Nagarajan, Deputy General Manager, Circle Office, Canara Bank, said that with the Centre emphasising on 20 percent year on year growth for funding to industries, especially small and medium industries, the lending was expected to touch the 1,35,000 crore mark by the end of 2009-2010.

In his opening remarks, N.P. Sukumar Past Chairman, CII, Tiruchi zone, said that the summit would focus on sustaining success by expansion through exploration of new markets.

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