The Hindu Business Line : Co Secretaries honing skills for Indian MNCs

TO tap the fresh avenues thrown open with the advent of Indian multinational companies (MNCs), the company secretary (CS) professionals are sharpening their technical skills for a cross-cultural business environment.

Opportunities have been thrown up by Indian companies such as Tata Motors, Ranbaxy, Asian Paints, Essel Propack, Reliance Industries, Infosys Technologies, Wipro, and Cadila Health, which have either acquired companies abroad, or become popular suppliers and are recruiting staff cutting across nationalities.

"Since the new generation of Indian MNCs are emerging on the global corporate arena, domestic professionals need to change their approach to the profession," Mr N.K. Jain, Secretary, Institute of Company Secretaries of India (ICSI), said.

Cross-border takeovers and mergers as well as alliances demand market knowledge and valuation skills for a professional to succeed in the globalised era, he said.

"Indian companies are fast assimilating techniques to buy or takeover foreign companies. Therefore, professionals need to imbibe techniques and skills in competition, tax and corporate laws of other countries to help India Inc. Besides, a thorough professional approach for recognising the common factor in diverse cultural ideologies is required," he said.

Speaking to Business Line, Mr Jain said, learning the process of due diligence, negotiating strategies and valuation skills would make local CS more competitive. Further, they also need to do networking with other professionals outside the country, he pointed out.

In fact, the Institute has been holding sessions to equip the professionals to understand the technicalities involved in making the Indian corporates going global an easier process. ICSI's national convention had also deliberated on professionally managing the advent of Indian MNCs.

In the global market place, a professional needs to advise companies to find new outlets for their products and services, with less competition and greater margins. Further, as global buyers, corporates need advise on an enhanced quality and lesser price, Mr Jain stated.

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