Indore (Madhya Pradesh): Chairman and managing director of Godrej Industries Ltd., Nadir Godrej, honoured with the prestigious LifeTime Achievement Award on the second day of the 32nd Indore Management Association’s International Management Conclave on Saturday emphasized on innovation and sustainability as key pillars of national service.

Addressing the mammoth gathering, Godrej highlighted patience and consistency as keys to success and underlined the importance of ESG (environmental, social, and governance) in business. “If you don’t enjoy your work, make changes to make it fulfilling,” he said.

Amid the galaxy of management thinkers, the office- bearers of the IMA conferred the Life Time Achievement Award on Godrej in a glittering ceremony held at Brilliant Convention Centre here. The award was given to him in recognition of his outstanding contributions to industry, sustainability and social impact.

A visionary business leader, Godrej has been instrumental in revolutionizing India’s agribusiness and chemical sectors while championing sustainability through the Godrej Good & Green initiative. A polymath fluent in six languages and an acclaimed poet, his global influence has been widely acknowledged.

Raj Deep Gupta, MD of Route Mobile said that the foundation of a strong business was not money but time, patience and trust. He highlighted the rise of AI-based start-ups in India and their increasing importance in the global market.

Gupta pointed out deepfakes as a major digital threat, emphasizing the need for AI detection and public awareness. He advised entrepreneurs to learn from failures, understand competition and focus on long-term success. Nilesh Shah, MD of Kotak Mutual Fund, spoke about the need to balance India's uneven economic growth. He highlighted infrastructure development as a key factor in making India a global power and stressed on the importance of investment and financial literacy over mere savings.

Calling young entrepreneurs the “Abhimanyus of Kaliyug,” he underscored their crucial role in economic transformation. Shah advocated infrastructure investment over freebies for long-term growth. Madhusudan Kela, renowned investor, said that investment was a blend of science, mathematics and judgment. He advised investors to learn from others but maintain originality in their strategies.

According to Kela, intuitive decision-making plays a crucial role in investing, which involves asymmetric risk and reward. He stressed on the importance of setting a target price beforehand and executing trades only when that price was met.

Priyanka Duggal, partner at Grant Thornton Bharat LLP, spoke on the importance of governance in successful business transactions. She said that background checks on founders had become an essential part of due diligence, focusing on integrity beyond just financials.

According to Duggal, the right investment structures and instruments are key to executing deals effectively. Renowned magician and mentalist Karan Singh captivated the audience at the conclave with his incredible mind-reading skills.

Effortlessly guessing phone passwords, he showcased the power of psychology, perception and mindfulness. His performance was a seamless blend of illusion and deep psychological insights, leaving the spectators spellbound. Singh’s engaging storytelling and mastery over the mind made his act a standout moment of the event. With his unique talent, he once again proved why he was among India’s finest illusionists.