Recession is the best time to pick assets: Sajjan Jindal

There is a lot happening in the two sectors you are present-steel and power, for all the wrong reasons. Illegal mining, Coalgate etc. How do you view all this?

I think it is an evolving phase for an economy. Whenever an economy is shifting gears or moving from an underdeveloped economy or moving towards a faster growth economy then this kind of issues are bound to occur. Especially for a democratic country like India, which is so vast and diverse. These are part and parcel of the growth pangs of the growth economy. It is a phase that will pass. We'll have to allow this phase to pass. This is part and parcel of India's economy growing up.

What gives you such confidence? 

Twenty years ago, India probably was a $200 billion economy and today we are close to two trillion dollar economy. We have indeed grown. Any decision by the government today can have a huge economic impact on the industry, either ways ie positively or negatively. So therefore the magnitude of the impact has become so large that it reflects immediately. As a country we have to gradually move towards a transparent system.

Isn't that the basic issue? (lack of transparency.) 

That is what we lack. I've been saying for many years that natural resources allocation should be done through a very transparent process. Whatever process we follow should be totally transparent and not discretionary. .Even now the new Mines and Mineral Development and Regulation (MMDR) bill, which is going to be put up in the parliament has discretionary powers. There needs to be total clarity, wherever there is discretionary power. That breeds corruption. We have to make things more transparent and more equitable.

Was transparency the issue relating to coal block allocation? 

It should not be because even in the coal blocks, there was a screening committee. There was a system put in place. There were many chief secretaries at the meeting and secretaries from different ministries who participated in the deliberations. But at the end it was all discretionary. To get approval from the state government was itself a process. If they don't like you, then your application was rejected.

How have you managed in all this? 

We built India's largest steel plant in Karnataka and till date we still haven't a single iron ore mine. I've been shouting from day one to auction the mines. Put it on auction. Then I've a chance to get a mine. If it is discretionary, I will not get for sure, despite having put up the largest steel plant in the country.

So I hope with all this hullaballoo that has happened in the last few months, the transparency may finally come. Of course, there is a flip side to it. If everything is auctioned there is a fear that the big players will corner most of it as they have the financial resources. So how will the smaller players grow.

How will the smaller players grow? 

I don't have an answer to that. But through a proper policy documentation, proper mechanism we can address all the misgivings.

So what you are saying that whatever is happening around you in the mining sector is a blessing in disguise?

I am a firm believer that whatever happens, it happens for the good. Ultimately, if you have a long term vision you'll understand that it is happening for the good of the nation. Of course, whatever is happening today is very painful to everyone. To me, our group companies are put into hardship obviously it is very painful but eventually it will bring in transparency. Transparency is a must, otherwise we will continue to be called as one of most corrupt countries.
copied from ET

Office Politics

More often then not one has to deal with office politics & “the dirty game” that goes on at the work place. But then like every coin has 2 sides…there is good side to it toooo…So let us see how to run a positive campaign at the workplace & how to handle the negative Yadavji & Guptaji in our work life. (No offense intended if your surname is Yadavji n Guptaji — I’m sure you’re still lovely)
Talking about it, how do we begin?? And what do we do to run a good campaign?? As a answer to this let me divide the entire “good campaign” process into 2 parts. One, wherein you promote yourself and your team in an effective way . And second, by engaging yourself in positive office politics. Combining both ways, following are some of the best practices that can help in positive office campaigning.
·         Finding a mentor (or two) because they can help navigate difficult personalities; look for solutions when you need sounding board. Most people like to help others — just be sure to come to him or her with a problem and a few possible solutions because Your mentor isn’t there to listen to you complain or to solve all of your problems for you.
·         Take initiative, try to start something new, even if it’s just a fun thing for you as well as your coworkers to do together. There are some activities like fundraising activities, office holiday celebrations etc. It doesn’t have to be something that increases revenue to show leadership and team-building skills. (Although if you can identify a way to increase revenue, by all means, just go for it!!!!)
·         Overcome your fear of speaking up. Many people have good ideas, but they’re afraid of being shot down or of what might happen if the idea bombs. But participation is an important part of good office politics. It shows that you’re engaged and thinking of solutions. If you’re too scared to speak up, talk to your mentor about ways to present your ideas at the next meeting or try joining a speaking group.
·         Think about the best interest of the team or company. Before asserting your opinion or arguing your case, ask yourself who will benefit. Are you against change because you don’t want to take the time to learn something new, even though it’ll improve a system? Think big-picture and beyond your immediate desires. When a disagreement starting going downhill, try to get the group to refocus on the big picture.
·         Be positive. This isn’t always easy. Believe me. But the people who constantly complain and play the victim are no fun to be around. People will start avoiding you, even if what you say has some merit. You want a reputation as a problem-solver, not a whiner.
·         Develop your skills and techniques. This will not only help you build your confidence but also others will start to trust you and believe in your work. 
Apart from all this, one should also know how to deal with “bad vibes” at the work place. Some of the tactics to handle them are:
·         Avoid gossiping. Gossip will inevitably reach your cubicle, but ask yourself if there’s any credibility to the rumors. Whether there is or there isn’t, don’t pass it on. People who enjoy gossip usually only have half the story, and taking part is a sure way to wind up with your foot in your mouth.
·         Watch what you say “in confidence.” Most things said in confidence will get out, usually starting with “I’m not supposed to say anything, but…” Disclose at your own risk. Try  to be professional and polite to everyone but watch out on whom to trust. Just because you like someone doesn’t mean you can trust them with your confidential information.
·         Instead of distancing yourself from the people who practice bad politics, get to know these people better. Get to know their motivations and goals to work more harmoniously with them (or at least to avoid in being in bad terms with them)