In an exclusive interview with SME Times, Dr. Anupam Varma, Dy. Director,  Birla Institute of Management Technology, Noida, UP said that the recession is the right time for aspiring to do something positive instead of sitting idle at home or getting frustrated searching for a job. The recession is on the wane now and banks have also started funding,  he said.  

Is the economic slowdown a right time for the aspiring entrepreneurs?
Anupam Varma: Yes, because instead of sitting at home and lamenting and getting frustrated in searching for a job, the skill sets learnt while working can be put to a better use. Moreover, given the social and economic setup, it takes anything from three to five months to actually get an enterprise started up and getting the first customer. The recession is on the wane now and the stimulus package given by the Govt. is another thing to be considered. India is in an enviable situation because, except for certain sectors the slowdown has had  little impact. Moreover, now the banks have also started funding in the normal 'business as usual' way.  

India Inc is likely to face a huge 'talent deficit' in the coming years, as the country is not producing enough people equipped with the right skills required for the globalized environment. What is your view in this regard?
Anupam Varma: It is true that we have a huge talent pool but what we actually lack is the dovetailing of skill sets to the jobs available. We have so many 'educated' people in the country but as many researches have shown, hardly 21% are actually employable. Don't you think that requires a deep soul searching by the policy makers that something is terribly wrong somewhere?

India is poised to be the employee nation for the entire world by 2020, due the fact that we will have a gigantic work force which is young. Now, unless some way is created which can conjure jobs for these youth, we will have a potential problem on our hands. If you think that entrepreneurship is the way out, I disagree to a certain extent because not everybody can take the pressure that comes with entrepreneurship. It is not a cushy 9 to 5 job and it is certainly not everybody's cup of tea.

What the management institutes are doing to help the emerging entrepreneurs?
Anupam Varma: The management institutes are acting as facilitators and incubators for the emerging entrepreneurs. The skill sets required by an entrepreneur are slightly different from those required by students in general. By incubating the business ideas and handholding these fledgling startups, the management institutes can do a major service.

Do entrepreneurial cells in B-Schools play a critical role in fostering entrepreneurship?
Anupam Varma: Definitely, because they foster the spirit of entrepreneurship and also teach the members of the Ecell the skill sets and street smarts required for setting up their own enterprises.

What is the condition of the present job market? Do you see any increase in recruitment process in the corporate sector? Are you still witnessing the after-effects of the present global recession as far as the job market is concerned?
Anupam Varma: The condition of the job market is definitely getting better. Many sectors which had put a moratorium on hiring are now on the normal hiring process. Not exactly, but the recession has taught us not to put all the eggs into one basket. This time the Institute is spreading its wings into hitherto unexplored but potential areas.

Do you think that the employees working in Indian companies need to compete with the global players in terms of marketing? What is your reaction?
Anupam Varma: Yes, absolutely. The time and the place to being insulated has gone long back. The market looks for quality and benchmarks it to the global brand. If sustainable growth is required then the Indian companies need to think in global terms.

Are you observing any boom in placements at the moment?
Anupam Varma: The boom has not yet started , but probably within the next 10-12 months the job market scenario is going to be very different.

Don't you think most of the Indian SMEs overlook research based management strategies and prefer 'grocery shop running style' to operate their business?
Anupam Varma: Yes they do, but another trend which has been spotted is that the younger generation which goes in for entrepreneurship also brings with the management style of functioning which includes proper market research.