Human capital is DNA for business excellence: Mukherjee

May 24th, 2008 - 10:05 pm ICT by admin  

Kolkata, May 24 (IANS) External Affairs Minister Pranab Mukherjee Saturday said it is indisputable that human capital is the DNA for business excellence and “we need skilled manpower for better economic growth”. Speaking at the 38th annual conference of National Institute of Personnel Management (NIPM) here, Mukherjee emphasised on the importance of human capital, and said in this world of technology, gadgets are not enough.

“It is indisputable that human capital is the DNA of business excellence.” Adequate human resource is required to carry on the work process.

He said: “We need skilled manpower for better economic growth.” Human resource management is the tool for improving performance.

He added that Pandit Jawaharlal Nehru also emphasised on human resource development.

Mukherjee said the central government has made a provision in the 11th Plan that six percent of the Gross Domestic Product (GDP) would be injected into educating youth of the country, who constitute 52 percent of the population.

The central government plans to set up 30 new central universities, eight institutes of technology, seven institutes of management and five institutes of science. Education and research will be provided with adequate attention, he said.

He said human investment is the biggest investment in the path of economic growth.

Coal India Ltd’s chairman Partha Bhattacharya said that human resource development now is not limited to the private sector, and even the public sector companies are increasingly taking initiative for staff betterment.

Bhattacharya said: “Proper communication is the core of human management.”

He said Coal India would float expression of interest (EoI) for 26 abandoned mines out of 121 such mines within a month. They plan to extract coking coal from 10 mines and good quality coal from the rest 16.

ONGC Ltd’s director (HR) A.K. Balyan, who is also national president NIPM, said: “Human capital is the most important component for business.”

He added that other components of business like machinery, technology and financial assistance can be provided for a business in abundance, but to amalgamate all these factors we need ample human resource. Better human resource development should be provided to build leadership qualities in the workforce.

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