Chairman Emeritus Reconnect 11 – “Earning” Wealth

1 May, 2013

My dear young friends,

In Indian society we find a typical hatred for wealth. From thousands of years it is believed that “while earning any kind of wealth there is pain, while protecting the earned riches there is pain, incoming and outgoing of wealth both are painful; root cause of all pain is wealth and therefore is deplorable”. Such a negative conviction has made Indians poorer and poorer over the centuries.

In relation to earning wealth there is one more negative perception that wealth can be generated by fraud only and it is impossible to attain prosperity with honesty. We ignore that in order to succeed in any business, you need at the same time knowledge & skills, courage, passion to win, entrepreneurship, creativity, vision, intellect, acumen, concrete planning, a strategy and focus.

I remember a dialogue with one of the respected businessmen in our country. He said “Making profit is our religion. As long as profit represents our vision, our first mover advantage, creativity, strategy, efficiency and hard work and NOT any kind of manipulation, tax evasion, cheating the clients by compromising on quality; it happens to be a sacred and most desirable dictum for us. We live for it. Such “earned” profit has a special value for us in terms of our efficiency, efficacy and pride”

Profit came for discussion at NPTI once when we were trying to make that Training Organization self-sustained instead of depending on Govt. grants. One opinion was “Making profit out of knowledge sharing seems to be unworthy motto, our Gurus never imparted knowledge for their profit”. The counter was “what if that profit represents our competitiveness, our capacity to transfer knowledge and skills for enriching and energizing power engineers, our capacity to think fast, think big and think ahead, our capacity to take the institution and the country forward? The same profit would become pious making us self-reliant and proud. After all why coins are offered to Goddess Lakshmi on Deepawali Puja? Simply because they represent our sweat, our effort, our industry; if we are honest”. and the country forward? The same profit would become pious making us self-reliant and proud.

My short trip to US last year reinforced in me a couple of lessons. The first one, the youth there have a special pride in earning. They don’t want to inherit, they don’t want to depend on their parents for higher education, and they don’t want to acquire money without “earning” it. My friend is Associate Dean in one of the Business Schools there. Once he told me that his College Building is cleaned up during 0-3 hrs., so that no one comes to know who are cleaning. Once he happened to stay late and found one of his professor friends from the nearby college in the cleaning team. They had a chat and his friend told him that he needed some extra money so he decided to do some extra “work”. What a value in Life !!

In India one unfortunate thing we observe is that with growing wealth, the arrogance also grows and sense of proportion weakens in spending. It is true of individuals as well as large groups. Some companies like TATA & WIPRO have shown their sensitivity towards CSR. Govt. of India has enacted one policy that companies making profit of more than Rs 5 crores, will have to spend 2% of their profit in CSR activities. With this, India has become the first country in the world to have such a mandatory provision towards sensitivity to return a small proportion of your profit to society wherefrom you have earned it, of course with your caliber.

While accumulating wealth one thing to be remembered is that it is like beehive. Someone else gets the honey. Its proper utilization at the end of the day rather than leaving it for natural inheritance is of paramount importance. I don’t remember the name of my grandfather’s father, so how can I expect to be remembered by my coming generations within the family?

Satyamev Jayate !!!

Best wishes and Regards,

Dr. B.S.K.Naidu

M.Tech., Ph.D., CBI Scholar, D.Engg.(Calif), FNAE
Hon.D.WRE (ranked amongst 30-most eminent scientists in the world)
Chairman Emeritus, Great Lakes, Gurgaon, NCR, New Delhi, INDIA
Former Director General (NPTI & CPRI / REL), Ex-Director (REC)/ Executive Director (IREDA)

No job is small or big, the way in which you do, makes it small or big (c)

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