Confused about which personal mobility option to select. The traditional petrol/diesel option, or the hybrids or fully electric vehicles. The post covid scenario globally for the automotive and mobility industry is not so clear. QuoteUnquote with KK and Chetan Maini, Co-Founder and Chairman at Sun Mobility and Creator of Reva, India First Electric Car in 1999 we discuss about where the future of the automotive and mobility is moving. This is on the backdrop of Elon Musk and Tesla announcing a USD 10Tn investment to make the earth more sustainable. Chetan’s keynote presentation at Nasscom Product Conclave 10 years ago looked like a cut and paste in #Tesla Investor Day Presentation.
The Future of Indo-US Relations. Growing Positively by ‘Quad’rapuling
Podcast
QuoteUnquote with KK and Dr. Mukesh Aghi, President and CEO, US-India Strategic Partnership Forum where we discussed Trump arrest, India’s NATO membership, US Visa issues, geo politics, trade, investment and fostering a growth-oriented relationship between the two countries.
Bidenomics and Pivoting Indo-US Geopolitics and Investments
Asian Trade and Geo Politics in the Face of Russia-Ukraine Conflict
QuoteUnQuote with KK and Dr. Parag Khanna Founder & Managing Partner of FutureMap and Young Global Leader of the World Economic Forum www.paragkhanna.com
World in Biden Era – Indo-US Relations, Geopolitics and Investments
QuoteUnquote with KK and Sridhar Chityala, Chairman and Managing Partner Elevate Innovation Partners. He is a thought Leader on Indo-US GeoPolitics, Trade and Investments and globally recognized leader in the financial services industry on the future of Indo-US ties
In a world which is getting more lonelier, QuoteUnquote with KK provides a hug of “Human Connect” across various dimensions with Manoj Gursahani, Author, Business Coach, Global Strategist Home | Manoj K Gursahani (manojgursahani.com)
The World Happiness Report from 2021 has been highlighting the increasing loneliness in the world and its impact on happiness in humans.
It’s in our human DNA and brain to connect with other humans as we are most evolved species on earth. Human connection lowers anxiety, depression, and suicide ideation, and how improving our connection with ourselves helps us better connect with others. Lily neurosciences. cpp human capital did an international study in 2008 and they asked the question of people tell me about conflict do you have it in your life 85 percent of the respondents said yes they have conflict with other human beings at times in their life 29% nearly one-third say they have conflict with others in their life always or frequently they asked why is there conflict between you and others 49% nearly have said it’s because of personality clashes or ego as I study that I see for me that personality clashes is the result of ego. So does human connect vary human personality type to type. How do we increase our human connection quotient.
The Human Connect https://amzn.eu/d/bXcZ3Kq
World Happiness Report 2022
Previous Podcasts
Blindspot : The Global Rise of Unhappiness: How Leaders Missed It?
Kristjan Archer, Command | Competition| Activator | Achiever | Arranger
Book Link : https://amzn.eu/d/fGuDA3y
Good Governance and Happy Citizens
QuoteUnquote with KK and Dr Kiran Bedi, Author, Woman Leader, Social Activist, India’s first and highest-ranking Woman Police Officer, Asian Nobel Peace Prize Winner, Politician and Ex-Governor of Pondicherry
Book Link: https://amzn.eu/d/b54xfL4
Common Man’s Happiness Economics
QuoteUnquote with KK and K. V. Subramanian, Ph.D., Professor of Finance, Indian School of Business; Ex Chief Economic Adviser, Govt of India
To Happiness & Beyond: Business Models for Delivering Beyond Happiness
QuoteUnquote with KK and Jenn Lim author of Beyond Happiness & CEO of Delivering Happiness (DH)
Karan Behl is Founder and CEO of Happiitude
Book Link: https://amzn.eu/d/cr1evAa
Everlasting Peace and Happiness for the World in the ISKON Philosophy
QuoteUnquote with KK and Gauranga Das, Legendary Monk and Director of the Govardhan Ecovillage, and Co-President of the ISKCON Chowpatty temple
How Can Social Tech Ventures Deliver Better Impact and Happiness to Rural India – With or Without 5G?
QuoteUnquote with KK and Dr Aaditeshwar Seth, Author, Founder Gram Vaani, Associate professor in the Department of Computer Science and Engineering at IIT Delhi
Book Link: https://www.cse.iitd.ernet.in/~aseth/act.html
Living in the Age of Disasters: From Multilateral to Bilateral Aid
Introduction
In July 2013, I wrote an article titled The Business of Disasters in my column (w)Health Check ((W)Health Check | Kapil Khandelwal KK). The idea in the article was to encourage the corporate sector in India to innovate business models to manage disasters. (see the text of the article below). The world in the second decade of the twenty first century has witnessed all the types of disasters conceivably possible that has left behind deaths and devastation. A lot has been spoken and written on biological disaster during and post Covid-19 pandemic. The ability to impact these threats is beyond control of the people and more in the hands of the healthcare systems managed by the relevant Governments around the world. We should now discuss on the Geophysical and Hydro-Metrological Disasters where there is still lack of understanding.
The organizational set up and confidence in the multilateral agencies has definitely been dented. What alternatives does the world have now to face the incoming disasters?
Global Maps of Geophysical and Hydro-Metrological Disasters
The global map of Geophysical and Hydro-Metrological Disasters provides that not the regions around the world are at mortality risk of such disasters.
Global Map of Mortality due to Floods and Earthquakes
There are many prediction models available to inform where these disasters will hit next with a fair amount of accuracy. Therefore, unlike biological disasters which are hard to predict before they strike, there is a measure of preparedness that is possible to manage Geophysical and Hydro-Metrological Disasters when they strike. Still the multilateral agencies have not been preparing to meet these eventualities.
Lessons from Recent Disasters
Biological Disaster: Covid 19 Outbreak
During the Covid-19 outbreak, we have witnessed how global multilateral organisations like the World Health Organisation (WHO) were incapable of dealing with the situation that the then US President Donald Trump decided to pull out of the WHO as its major sponsor. Moreover, the manner in which the WHO approved the covid vaccine and its effectiveness is now out. As a result countries like India has to suffer in releasing its vaccine to its own people or supply it globally. Months later release of other countries vaccines, did India supply its more effective vaccine to over 100 countries on bilateral basis. But the delay India faced by WHO for approval of its vaccine lead to flooding of ineffective vaccines.
Geophysical and Hydro-Metrological Disaster
Recently earthquakes and floods which have hit several countries, the multilateral agencies such as International Red Cross were not capable enough to handle the devastation. As a result, many countries have responded to the disaster based on their relations with the devastated country. Turkey earthquake is an example. We still do not know what is going to happen. But major first responders to such countries were on bilateral basis. Here also India responded to Turkey’s request by sending its National Disaster Response Force (NDRF) teams. It’s another issue that Pakistan did not allow Indian aircraft passage through its airspace to reach Turkey faster.
Rise of Bilateralism and Its Risks
Since late 2010s, the financial support received of the member countries to the multilateral countries has been gradually reducing. They have been stretched to maintain their administrative budgets versus funding disaster management operations.
The additional capacity for disaster management which strikes countries in one stroke of nature, lies with other countries in limited measure as multilateral agencies are not adequate enough to handle to situation. These capabilities when aggregated would barely be sufficient to manage the crisis through the disaster. Let’s also understand that bilateral aid and support by other countries is motivated by diplomatic relations and ties. The current Turkey and Syria earthquake demonstrates this vividly. Turkey got the majority of the bilateral aid and support while Syria was not. Another example is the great floods in Pakistan where India’s aid was not requested nor India provided it. Moreover, much of the aid that Pakistanis received was never delivered to the people suffering. This acerbates the plight of the people suffering in these disasters. Therefore geo-political considerations come into play to support disaster management bilaterally. This brings to the point of the risks of rising bilateral flow of disaster management aid, support and services to countries in disaster. Some of these include:
Bilateral aid and support may come with the strings and expectation of support to the doners by the receivers in international politics, trade and commerce at a later stage
The aid and support may not be fairly distributed across the political boundaries which are impacted
Like many aid projects that I have worked in Africa, end abruptly as soon as the crisis is stabilized. The longer-term rehabilitation is not considered in bilateral aid and support. The same may be true in current Turkey-Syria earthquakes.
These incidents also become an opportunity to debt trap the countries which are financially and economically week. Pakistan is a case in point after the floods to Chinese debt-trap.
The checker board of international diplomacy in such circumstances may create more tensions for the donors in the future when other countries compare the situation in their own backyard when it had occurred and who stood up to support them bilaterally.
Political unrest in the donor countries over bilateral support to other countries provided.
Given these risks, would it not be prudent to organize private enterprise business models with innovative financial models to sustain these businesses (see my article below). These were initial thoughts in 2013 by me. But given the frequency of disasters the world and its countries are facing, it become evident that rather than expecting bilateral aid and support, the fully life cycle of disaster management can be managed by private enterprises with full disclosures and accountability. Many ESG and impact funds would definitely invite such ideas of such private enterprises.
Article: The Financials of Disasters
It is time for the corporate sector to take over disaster risk management and disaster medicine in India
Background
Probably the greatest concentration of pilgrims in any region in the world occurs in India’s mountain regions of Himachal Pradesh, Uttaranchal and Uttar Pradesh, where 9.3 million pilgrims each year arrive at the major entry point into the Pahari region. Between 2001 and 2010, the number of visitors to the state rose nearly 200 percent to 30.3 million. Major Hindu shrines located in the state, about 70 percent of the tourists who visit the state visit religious sites. However, last months pilgrim disaster in Uttarakhand with the search and rescue operations for the pilgrims needs to be reviewed. With large-scale politicking, drama and oneupmanship by the political parties in the aftermath of the disaster, requires an assessment on the failure of the government in providing services in such situations and leaves me wondering on the areas where different business models can be operated by the private sector in the health and well being of people in such situations.
1. Sequence of a disaster: “befores”, “durings” and “afters”.
2. Triggering events and coupling causes.
3. Large-scale damage to human life and environment.
4. Large economic costs.
5. Large social costs.
6. HOT (human, organizational and technological) and RIP (regulatory, infrastructural and preparedness) factors.
7. Multiple stakeholder involvement and conflict.
8. Immediate and longer-term responses.
9. Crisis resolution attempts.
10. Focus on symptoms not causes.
What is Disaster and Disaster Medicine?
A disaster is not a “crisis” in the traditional meaning of the word – a situation in which important decisions involving threat and opportunity have to be made in a particularly short time – rather, disasters involve management procedures which must be maintained and management problems coped with under conditions of major technical emergency involving threats of injury and loss of life. (See Box). There are two types of disasters – natural and technological disasters. Natural disasters include three specific groups:
Hydro-meteorological disasters. Including floods and wave surges, storms, droughts and related disasters (extreme temperatures and forest/scrub fires), and landslides and avalanches.
Geophysical disasters. Divided into earthquakes and tsunamis and volcanic eruptions.
Biological disasters. Covering epidemics and insect infestations.
The technological disasters comprise three groups, which are:
Industrial accidents. Such as chemical spills; collapses of industrial infrastructures; explosions; fires, gas leaks; poisoning; radiation.
Transport accidents. By air, rail, road or water means of transport.
Miscellaneous accidents. Collapses of domestic/non-industrial structures; explosions; fires.
The effects of theses disasters can be view on health and well being from five different perspectives. These include:
preparedness and availability of medical and health facilities, services, personnel and equipment;
immediate casualties and deaths caused by the disaster;
secondary illness and deterioration of health conditions following the disaster;
destruction or damage to medical and health centres and services;
response capability of the health services and the capacity for post-disaster recovery.
The response to health problems of such magnitude, under adverse and literally catastrophic conditions, cannot be sufficient with mere emergency medicine or just the provision of relief. Disasters, particularly the one in Uttarakhand are not merely very large accidents; they involve complex public health issues and health management problems at a time when the normal coping mechanisms are disrupted or even out of action. In recent years, the health profession has, to this end, developed new approaches and a new discipline now referred to as “disaster medicine”.
Disaster Medicine is the study and collaborative application of various health specialties – e.g. paediatrics, epidemiology, communicable diseases, nutrition, public health, emergency surgery, military medicine, community care, social medicine, international health – to the prevention, immediate response, humanitarian care and rehabilitation of the health problems arising from disaster, in cooperation with other non-medical disciplines involved in comprehensive disaster management.
In case of floods like that in Uttarakhand the risks of infectious diseases and of malnutrition are real, and the necessary personnel, medicine and supplies should be geared to those needs.
Different Business Models and Opportunities Addressing Disasters in India:
With the occurrence and intensity of disasters increasing in India, there are several business models that we can look as. This is not an exhaustive assessment of the opportunities, but an initial map that can be used to build on to the same.
Pilgrimage Travel/Health Advisory Services
There is no risk rating and advisory services in India that provides travellers with information in the risk rating at different times of the year or on a general travel situation. There are no personalized services that provide information and questions to pilgrims health, security, medical information such as vaccination requirements, infectious diseases common in destinations, food and water safety, and tips on staying healthy while on pilgrimage. Also there are no travel information on emergency medical and other support services. Private weather forecasting and advisory business models do exists. This can be an extension to their business.
Personalised Emergency Medical Care and Evacuation
Membership based services for providing emergency medical care and evacuation is the need of the hour. The services should include evaluation, airlifting, trauma management from the disaster. The services should be followed by consistent protocols with coordination and rapid. One of the areas where a centralized control room which can co-ordinate with the victims and their family members is an essential part of the service. In case of international pilgrims, the service should provide assistance with passport documentation and visa clearances during emergencies, so that the border transits can be smooth.
Specialised Hospitals near the Disaster Zone
With the intensity of disasters increasing in occurrences, there is an opportunity for setting up small specialized hospitals that can cater to the disasters in a specialized way and can be an extension for the supply chain and logistics to the operations in the disaster zone. These hospitals can provide medical equipment, pharmaceuticals, and medical consumables to remote site support.
Medical College in Disaster Medicine in India
There are several institutes of excellence in India that provide courses and degrees in disaster management. However, like the US where there is a board of disaster medicine with special curriculum and licensure of working professionals in this field of medicine, there is no medical college or National Center of Excellence in India providing UG or PG courses. India can well be served by this branch of specializing doctors from a recognized Center of Excellence in Disaster Medicine.
A Public-Private Corporation for Disaster Risk Management
India is one of the countries that consistently ranks amongst the top-5 countries in the world where most of the disasters strike. The lack of faith in the state government of Uttarakhand by the faithful devotees of other states and independent operations by individual state governments to search, rescue and airlift the victims itself gives rise to the business of disaster risk management that could be outsourced to an independent company by these state governments rather than political oneupmnship! On a serious note, other countries that are as disaster prone as India such as Phillipines have used public-private partnerships to disaster risk management using community participation and consistently reduced disaster risks year on year! This will not only create employment opportunities in the community, but also infrastructure and logistics to handle risk mitigation measures on a real time basis.
Some Interesting Business Models in Place
There are some very interesting business models in place for disaster risk management around the world in operation. Some of the ones that need a mention are as under:
Reuters Alertnet:
AlertNet is a free humanitarian news service run by Thomson Reuters Foundation covering crises worldwide. The award-winning website provides news and information on natural disasters, conflicts, refugees, hunger, diseases and climate change.
International SOS:
International SOS is the world’s leading medical and travel security services company. Their enterprise services help organizations protect their people across the globe. Our teams work night and day from more than 700 locations in 76 countries.
Doctors Without Borders
Médecins Sans Frontières (MSF) is an international medical humanitarian organization created by doctors and journalists in France in 1971. Today, MSF provides independent, impartial assistance in more than 60 countries to people whose survival is threatened by violence, neglect, or catastrophe, primarily due to armed conflict, epidemics, malnutrition, exclusion from health care, or natural disasters. MSF provides independent, impartial assistance to those most in need. MSF also reserves the right to speak out to bring attention to neglected crises, challenge inadequacies or abuse of the aid system, and to advocate for improved medical treatments and protocols. In 1999, MSF received the Nobel Peace Prize.
Reflecting Forward
The events that have unfolded in the face of disasters in India require execution and not politicking. It is time private enterprise take over where Government has failed to deliver just like main stream healthcare to the masses, it is time for taking over Disaster Risk Management and Disaster Medicine in India.
QuoteUnquote with KK and Sanjay Nekkanti is the CEO and founder of Dhruva Space Private Limited, the company behind sending the private satellite into space from India 2023
We have all dreamt about going into space. Listen to India’s space entrepreneur who dreamt it and launched India’s first private satellite into space. In this podcast, we discuss the India’s private space and satellite program, space research, innovation and start up ecosystem, growth opportunities for Indian space entrepreneurs, future space race and economy how can India win the race.
2023 India Healthcare and Lifesciences Investment Outlook
Since 2013 our algos have been accurately predicting the investment heatmap in the healthcare and life sciences in India which were predicting with 95% accuracy on the sectoral investment cycle in India till the end of 2019. Since the Covid Pandemic in 2020 we lowered levels of prediction accuracy like we started back in 2013. Covid-19 pandemic killed over 23 million people globally. 2022 has brought new headwinds, some we haven’t seen in over 40 years. Healthcare spending will fall in 2023 in real terms, given high inflation and slow economic growth, forcing difficult decisions on how to provide care. Digitalisation of the healthcare system will continue, but the use of health data will come under stricter regulation. A New world order under the current geo politics fragmentation and multilateral world is bringing India to the forefront. It’s vaccine diplomacy, effective and cost-effective therapeutic solutions is a game changer for India.
2023: A Year of Newer Normal
Since the Great Chinese famine of 1959, for the first-time life expectancy as per UN, Covid-19 had been cut by 1.7 years off global life expectancy, reducing it to 71.1 years. While a recovery probably began in 2022, the UN calculates that 2023 will be the year when life expectancy first exceeds 2019 levels. The investment thesis with most of the investment managers in the current scenario is more of a long view on healthcare infra which are less tied to economic cycles and an imminent slow down globally. Some of the investment risks the healthcare and lifesciences sector faces include rising real interest rates, increasing price inflation for healthcare products and services in the face of weakening in consumer spending, reshoring the supply chains and the wars, both trade and terriotorial. Digital businesses are equally going to be impacted. ESG and impact funding is waiting for deployment.
2023 India Healthcare and Lifesciences Investment Outlook
Let’s relook at the board trends for 2023 in terms investment activity and trends.
Healthcare Financing
2021 was an all time-high for healthcare financing sector due to emergency and non-discretionary spend on healthcare. Health Tourism related funding is only going to take off in Q3 after the current wave tides down. Consolidation activity to slow down.
2023 Outlook: Moderate
What’s going wrong: right bite for the consumers, reach and penetration, higher debt financing costs, slower non-discretionary and elective healthcare spend, delaying of healthcare spend and health tourism, new wave restrictions, shortage of digital workforce
What’s going right: India stack digitisation, agetech, consumer borrowing to spend on electives
Medical Education
Skilled manpower shortages is the key driver for growth. All the students who have returned back from Ukraine need to be accommodate in our current system Regulatory reforms are urgently required to push digitization and newer business models for upskilling existing workforce. Churn in ownership of assets due to consolidation activity will continues at a faster pace.
2023 Outlook: Moderate
What’s going wrong: regulation, corruption, no vision, skill shortages, alignment to new age care, increasing debt burden
What’s going right: skill demand, digitisation, manpower-led business models creating their own content or tying up with larger established players, cross-border students coming to India, export of clinical manpower to the West
Med Tech Innovation and Life Sciences Discovery and Clinical Development
India has proven to be the vaccine supplier to the world in 2022 with over forty percent of the world’s pre-qualified vaccine products are made in India. Capacity creation and new product development need to be accelerated particularly in infectious diseases and some niche segments. Reshoring and government policies for that need to be accelerated. Global investment and partnerships is on the rise in 2023. Patent expiry of some of the blockbusters in the US are a huge opportunity.
2023 Outlook: Moderate
What’s going wrong: Innovation pipeline, IP regulation, regulatory bottlenecks on clinical development, newer skill sets for research and acceleration, global collaboration and partnerships
What’s going right: Human capital, cost advantage, reshoring the supply chain, Make in India
Pharma and Therapeutic Solutions
Several players are going to go for the IPOs in 2023. Reshoring the supply chain is moving slowly. The Government production linked incentive is not moving as intended in the medtech, intermediates, APIs. The capital expenditure in creating world-class green infra is still to take off.
2023 Outlook: Hot
What’s going wrong: price controls, policy log jam, innovation and scale up, cost competitiveness, exit of PLI incentives, scale of capex, Margins pressure, IPO valuation
What’s going right: cost advantage, distribution infrastructure, Government incentive programs, blockbuster going off patent in the US, ESG funding entry
Healthcare Providers
2022 was a negative year for almost all the listed stocks. With higher interest rates, funding costs for have increased. Inputs such as steel, cement, etc, have also shot up increasing the capex per bed. Newer sources of funding green healthcare infra as a long-term bet which are less tied to economic cycles is emerging. Digitalisation will slow down even further as consumers go back to the old ways. Costs and profitability pressure will increase to maintain the investor interest. PE valuations will continue to get right adjusted to market valuation.
2023 Outlook: Moderate
What’s going wrong: margin pressures, price controls, execution of programs on the ground, PPP in healthcare, supply and demand mismatch in micromarkets, debt financing costs, gun powder churn, operating cash runway, liquidity and working capital crunch
The IPOs in 2021 in the sector have created uncertainty in valuation and investor sentiment. The sector will continue to grow as it did in 2022. New products and customer segmentation is going to be the growth drivers
2023 Outlook: Hot
What’s going wrong: product fit to consumer needs, product approvals, loss ratios, operating cash runway, human capital reduction, consumer offtake and demand, IPOs pricing and valuation
What’s going right: Consumer demand, digitisation, new products
Health Retail
Spends on healthcare are slowing down and so is the discretionary spend. Falling service levels and consumer trusts is at an all-time high. Costs and margin pressures is going to be more acute. Only one major IPO expected in 2023. Many of the late stage start-up are going to scale down or not raise the capital at the expected valuations.
What’s going right: Consolidation, newer cross-vertical innovative business models, profitability focus and valuation being right adjusted
Wellness
Growth which tapered down in 2022 is still going to be sluggish in 2023 as consumers cut back their spends. Digital business model innovation is still lagging behind. Medical wellness tourism will be recover in Q3 of 2023. Corporate Wellness spends which also scale down even further. PE funding is going to slow down even further as valuations squeeze even downwards with margin pressure. Expect one major IPO here.
2023 Outlook: Hot
What’s going wrong: regulation, maturity to scale, down round valuations, slowing of wellness spends, manpower and cost pressures
What’s going right: newer cross-vertical innovative business models,
Alternative Therapies
Growth and new customer acquisition is the new mantra in 2023 as consumer spending decelerates further. New products and therapies that have accessed funding in 2021are going to find it difficult to raise at the expected valuation. Large MNCs are also entering in this space to fight for the consumer’s mindshare. Funding crunch is going affect growth. Expect an IPO. Some of the players may scale down or shut down due to funding. Consolidation activity will increase.
2023 Outlook: Hot
What’s going wrong: maturity to scale, consumer education and confidence, clinical research, new product development, growth, funding crunch,
Let’s wish that we focus on building trust in healthcare for the consumers in 2023 and there is peace across for the world to come out of recessionary trend that would boost the investor confidence across.
Don’t Live with your Ex, Live in the Present for the Future!
I have been observing that many folks on Linkedin has been using their past organisations’ names in their heading as Ex-This and Ex-That. What’s more I am now seeing resumes of some senior executives who are exploring with me also using hashtags # and stating Ex-Designation, Ex-Organisation in their summary. I wonder why these folks are still living in the past and their past organisations, past positions halo? Are they unhappy with their present position and organisations? If living in the past, how will these individuals live up to their future positions and organisations that they aspire? Makes me wonder. Are these co-horts of individuals really have the experience and skills or they are the living legends of their past designations and past companies where they were employed and nothing substantive demonstrate in their present circumstances?
Why this increasing trend of Ex’s as your Headline Defining You?
I spoke with a couple of experts and also conducted my podcast in the past on topics such as the Employee Josh, The Great Resignation, Workplace Happiness. Here are my views why this trend:
During the Covid lockdowns, may lost their jobs due to unforeseen circumstances and had to struggle to find jobs or work multiple part-time jobs as a makeshift
There was the Great Resignation also led to individuals rethinking and making some career shifts and reworking their career aspirations
The Gig Economy Workers and the Controversial Moonlighters who did not have something specific to write about themselves as headlines that defines them
Returning to work individuals who were just to lazy to update their headlines
The present is not better than the past syndrome sufferers
In any case, this is not a very healthy and happy trend. I have pre ordered the book Blindspot by Gallup CEO Jon Clifton which I have yet to receive and read and I will be inviting Jon on my podcast show QuoteUnquote with KK QuoteUnQuote With KK | Kapil Khandelwal KK for his comment on this issue of living in the Ex’s. From the current trend and talking to many individuals I believe that many of these people living with their Ex’s are afraid and uncertain about shaping their future and hence this trend.
Getting out of the Ex’s Syndrome: My Way or High Way!
I had a vision that by age of 40, it would start off on my own. The Lehman Crisis, like the Covid Crisis led my employers to go in a defensive mode and hence I believed it was going to be now or never if I have to shape myself and my future in the future. After I quit Cisco as Managing Director of Healthcare, I used to be ticked off when the media would quote me as Ex-Cisco, Ex-Wipro, Ex-this, Ex-that. I quit my jobs either because it was not challenging or the next job added more dimensions to my experience that I lacked. I kept objecting to the media folks for titling me in such a way and wondered, don’t I have a personal identity? Where was this going? Here are a few tips I used to get out of this Ex’s syndrome.
Take a Break and Think
I took a 15-day detox break to reflect back and think about who am I and why am I what am I? This break not only detoxed my body but made me think in isolation
What defines you and the World in the Future
Assuming that I retired at the age of 70 years, what is the impact I would deliver to the world shaping myself into it. Given my sector experience, I envisioned that Food, Health, Education are the sectors that will continue to grow whether there is Lehman or any other Global crisis till the end of this world and hence focused on these sectors. Next was the issues that these sectors would face and the solutions that I would like to work on. Lo and behold, I had parts of my headline
Promoting Myself and not My-Ex’s
Armed with what I want to shape myself to be. I worked on rebranding myself as me and not on the identity of what I was and what I did with my past employers. I started writing my own columns in the newspaper, mentoring start ups and doing my research on focused industry issues in the focused sectors that I had zeroed in. Very soon, my Ex’s faded out of my profile and I had my own standing and my own position in the industry.
Accepting YoYo
Unlike my Ex-employers who provided the ecosystem and support to grow, I realized that I have this lone battle and I am the last samurai in my own fight to redefine myself. I quickly accepted that You are on Your own (YoYo) and started creating my own organization, associates, partners, collaborators, mentors who would become my backbone of the ecosystem and support to grow which large corporates offered their employees. I accepted YoYo and worked YoYo.
Be the First
The work I did from then on were the firsts in the relevant industry, reshaping and redefining not only your identity in the industry, but leading the industry into it. Mind you it is not easy facing a bullet train in an head-on collision. You need balls. But by then, my experience and courage was enough to face these head on situations with the industry. First Day-Care Surgery, First Offshore Hedge Fund, First Healthcare REIT, First Non-Equity Dilutive Healthcare Growth Fund, First Multi-Platform Podcast, First Holistic Healing Resort in the World are some of the Firsts.
Fail Fast
There is no harm in failure, but you need to fail fast to conserve your resources and personal energy. Also when I did quit, I made it a point to document in my mind the lessons learnt so that I do not repeat in the future.
Where Am I today?
Who the f**k cares I was Ex-This or E-That. I am Kapil Khandelwal KK!
Over the lockdown, I was only doing my regular walks and diet control. This helped me reduce my weight and kept me fit physically and mentally. The result was that I reduced over 15 kilos in weight. However, I needed a full body workout and had to pick up a sport. I am not a gym person and needed to add some workouts for my upper body and endurance. Hence some racket sport would be a great addition. In the past, I had played table tennis in school and college at competitive level. Later, in college I played tennis till I gave up in 2011.
After 10 years, I wanted to take up a racket sport that is easy on my age and is all weather. The choice zeroed down to squash.
Research from Sports and Medicine Favouring Squash
According to Forbes Magazine, squash was rated as the healthiest sports in the World. Forbes consulted with personal trainers, coaches and exercise physiologists, 10 sports were listed as being the ‘healthiest’ in terms of cardiorespiratory endurance, muscular strength, muscular endurance, flexibility, calories burned in 30 minutes, injury risk. Squash took first place!
According to Forbes, 30 minutes spent on the squash court gives you ‘an impressive cardio respiratory workout.’ Constant running and rallies build endurance and muscular strength in your lower body, and squash can even improve flexibility in your core and back, thanks to the twists, lunges and turns necessary to keep the ball on the go.
If you’re wondering what makes squash so healthy, here are the results from the Forbes survey:
Forbes Survey
Here is more, Recently the British Journal of Sports Medicine underwent a study which examined information on more than 80,000 adults across England and Scotland who took part in national health surveys between 1994 and 2008. The study found that risk of death from any cause was 47% lower among those who played racket sports. The study suggested that regularly playing squash could help stave off death the longest.
Scientists have narrowed down the sports and types of exercise that are linked to significantly lower odds of dying before those who do not do those activities. The research concluded that racket sports, swimming, aerobics and cycling seem to be the best for prolonging life, in that order.
Meanwhile, those who partake in racket sports such as squash, also have a lower risk of dying from cardiovascular diseases such as strokes. After taking into account influential factors, the authors of the paper identified which sport or exercise seemed to be the most beneficial.
Compared with the participants who said they had not done a given sport, they found that risk of death from any cause was 47% lower among those who played racket sports; 28% lower among swimmers; 27% lower among those who took part in aerobics classes; and 15% lower among cyclists. No such associations were seen for runners or joggers and those who played football or rugby. When the researchers looked at the risk of death from heart disease and stroke, they found that playing racket sports was associated with a 56% lower risk, swimmers had a 41% lower risk and aerobics participants had a 36% lower risk compared with those who did not participate in these sports.
The researchers did find a 43% reduced risk of death from all causes and a 45% reduced risk of cardiovascular disease among runners and joggers when compared with those who did not run or jog, but this advantage was not deemed significant when influential factors were taken into account. They cautioned that the impact of running and jogging might have been underestimated.
The study suggests that squash is ultimately the best sport to play to ensure a long life.
About Squash
Squash is played in a four-walled court with a small, hollow rubber ball. It is played between two i.e, singles and four i.e, doubles players. The game was first played in 1930 at Harrow School in London, England. The game is an excellent cardiovascular exercise and mostly played in the gyms. It’s not an Olympic sport yet but it features in Commonwealth games and Asian games since 1998.
Gregory Gaultier, Mohamed El Shorbagy, Ali Farag, Nour El Sherbini, Raneem El Weleily are leading the point table at the moment. Joshna Chinappa, Dipika Pallikal Karthik, Saurav Ghoshal and Ritwik Bhattacharya have made India proud in the sport.
Getting Started
Getting started on squash costs as low as ₹5,000. Please use the basic gear available on Decathlon, India website or visit their store. Search | Squash (decathlon.in)
What’s in my squash bag?
#
Gear
Make
Remarks
1
Squash Racket
Prince Thunder Sub Zero 200 – 175 grams
Poor packing, bent while shipment and play, do not buy
2
Squash Racket
Perfly SR 135
Latest product. Pro range. Loved it.
3
Squash Ball
Prince Rebel
High quality Pro
4
Shoes
Plaeto Unisex Squash Sneakers
Loved it. Made in India and endorsed by Rahul Dravid
5
Short and T-Shirt
Sweat Free from Reliance Trends and Decathlon
Good fit
6
Bag
Aurion Squash Zipper Kit Bag
Great price and value
My Squash Starter Kit
I made the mistake of ordering Prince rackets on Amazon. The product is bad as the grip needs to be replaced. Also the Amazon packing and handling is poor. The rackets arrived damaged.
Other Benefits of taking up Squash:
Even at this age
Squash as a game is age-friendly. At 50+, I was able to pick up the game in the first session. The rest is YouTube videos to brush up the 101 and techniques.
Easy to pick up
As I played tennis, squash was really easy to pick up and lean. I can play solo and brush up on my strokes and on court movement alone with a coach to guide me.
Improved cardiovascular fitness
As per my watch, my peak cardiovascular activity at the end of 45 minutes of constant play was 175 bpm. This was 30-35 bpm higher than my usual walk after 45 minutes.
Improved hand-eye coordination
One of the concerns that I had was, Will I be able to see the squash ball which is coming to me at high speed? Need less to say, I was able to affirm that I had not lost my hand-eye co-ordination even after taking up a racket sport after 12 years. I was able to hit the ball from the first shot.
I can play solo
I am able to play the game solo and do not need a team to be accumulated to play the game unlike in racket sport, you need a duo. Just start hitting the ball against the wall!
Increase strength
After a couple of days of playing squash, I see my upper body strength improving
Improved posture
Sitting in front of your laptop, leads to a couching posture. After a few days of playing squash, I could feel my shoulders and back straightening up to a better posture
Learn to run and move backwards
If you can run backwards, your brain is still sharp and focussed. Squash gets you moving forward and backward on court to hit the ball hard enough. So its like a brain tonic for me!
Can play it even during rains of Mumbai
Most of the outdoor sports become seasonal in nature and cannot be played all round the year. Not in the case of squash. All you need is a wall to hit the ball against!
Health benefits
While here are some of the other health benefits of playing squash. Stress reduction, strengthening muscles and joints, with proper elbow and knee guards it is not injury prone, improves mental strength, determination and routine
Harvey, err Hurray! I finally completed watching all the nine seasons, 134 episode series of suits, last weekend. This was one of my wish list for 2021. In the past, I had watched some of the episodes but could not watch the full series. Over 2021 and first quarter of 2022, as I watched through all the episodes of Suits, I realized and learnt a lot about myself not that I am interested in legal stuff, but as a person, how I could relate to Harvey Spectre, the key character in the series. Here are some of my learnings from Suits.
Deal Your Deals Face to Face
Sometimes our deal closures get delayed as the lawyers go behind the veil of emails exchanging different rainbow-coloured lined versions. Harvey and the team closed the issues and deals confronting the counter party face to face. Saves time and money.
Workplace is Your Second Family
Workplace colleagues become you second family if you accept them as your own when you spend a big part of your day with them.
Don’t Poker Odds, Play the Opponent
If you need to have a winning streak and attitude, then you cannot play the odds. It about playing hard on the person’s mind against you on the table. Most deals of cards or corporate deals are won playing on the opponent.
Suit Up to Power Up
The immaculate dress sense gives you presence and swag. This leaves an ever lasting impression and your power on the other people. Therefore the best dress is the first step to success.
Fake it Till You Make It
It does not matter what your pedigree is. You got to own your work and fake it with confidence and act cool. Mike and Harvey could pull this off verry easily. It does not come easily to all and needs to be mentally astute to pull this off.
Josh, Junoon and Jigar
Like Harvey who picked up a rookie who did not even have a graduate degree, I have picked up rookies from coffee shops. All I looked at in the person was if he had the Josh, Junoon and Jigar. For even senior level executives, the acid test for them to make it in is these traits.
If you Don’t Learn to Swim at the Deep End of the Pool, You Never Will
When I was a rookie, I ventured forward to accept assignments to be worked directly under my mentor and consulting partners at Coopers and Lybrand. Like Mike, taking on full charge of the assignment with no experience helped me develop my problem solving capabilities and grow.
Work Hard Till Your Name Speaks for You
Harvey’s reputation as the best in New York did not come easily. It was enough hard work put in to create a reputation for himself. These days many people believe that just personal branding and PR will get them the name. Let’s remember that it can only take you there, but it will not keep you there. So buckle up and work hard to achieve whatever your name stands for.
Don’t Externalise the Blame for Your Failure – Take Responsibility
Ask not what your organization can do for you, ask what you can do for your organization. I have interviewed many senior executives who have been exploring a position with us. Many of them have been a rolling stone and delivered no tangible results. Moreover, they blamed their bosses, their organizations or situations for not been able to deliver results. In other words, externalizing the blame for their shortcomings. Mike and Harvey took the responsibility for the failure and made the attempts to fix the situation right.
Cover the Backs of Your Own People
To Err is Human. However if you have your bosses who are covering up for you, you will be fearless in coming out with innovative solutions to the problem even though you may make mistakes as these were never done before and bound to have gaps and not be perfectly foolproof. Harvey covered up for Mike and he in the end would win it with some innovative legal solution even though it backfired initially.
Superiority and Oneupmanship Cannot be Proven Viable, Collaboration Will Be
Louis’ cravings of proving he is better than Harvey always proved fatal. However, he was proven successful when he collaborated with the team. Therefore jealously-directed behavior is always going to be counter productive.
Be a Finisher
Our HR experts have divided people into different profiles using the MBTI framework. However to for every team to be successful, you need a finisher to see through the process till the end.
Positions Cannot be Demanded but Accepted
Harvey and Louis both demanded to be a junior partner role but Louis won it hands down inspite Harvey being the better of the two. However, Louis’ acceptance rating was lower than Harvey’s. Sometime you may not be ready to be elevated to the position as you may not be ready. Accept the feedback and work on it rather than try to demand and jump.
Between Black and White are the Shades of Grey
There is always some grey matter between what is put in writing in black and white. That’s why you have courts and lawyers to go to. Playing into the grey is not breaking the law. Its redefining and reinterpreting the law to your advantage.
RRR is the Way
Research, Reinvestigate, Repose is the best way to win a dire hard situation and come out with a winning solution when you back is against the wall.
Music is a Therapy
Harvey had a vinyl record collection, may be because his father was a musician. But whenever required he played music to calm down. Music is therapeutic.
Karma will Always Haunt You
Bad karma will always come to haunt you. So always deal right and be on the right side.
Those who Preach Ethics can also be Unethical
Even a Harvard Professor of Ethics can fall for being unethical. So don’t fall for the façade and image of a person.
Degrees Don’t Do Development
Education is never complete. We have to educate continually and grow constantly by being an avid learner. There is not ego in being a learner for life.
Sometimes Smoking Weed Also Gives Success
Weed was the simulant that Harvey and Mike smoked to reimagine a situation to win their case. Also All the Partners of Suits smoked weed the night when their firm was finished to come out with a solution for their firm to survive.
Never Burn Bridges
When you sever the relationship with anyone, don’t ever leave the other party insulted. Hardman was so bruised with insult when he was let gone of his own firm twice, that he always came back viciously to destroy his own firm.
Be Just and Fair and There will be White Knights To Protect You
White Knight are developed by just and fair relationships. These White Knights will come up to get you out of a sticky situation.
Love-Work Relationships
Be honest in your love-work relationships. Everything else is an affair!
Operation Ganga was an evacuation operation by the Government of India to evacuate the Indian citizens amidst the 2022 Russian invasion of Ukraine, who had crossed over to neighboring countries. This involved transport assistance from the neighboring countries of Romania, Hungary, Poland, Moldova, Slovakia to reach India. Over 20,000 medical students were evacuated in Operation Ganga. I have been writing and talking about it over the last 10 years. Let me outline the magnitude of the situation at hand. India constitutes ~18% of world’s population. From here things become a bit trickier. We have world’s 21% disease burden. ie. One-sixth higher proportion of people falling sick. On the clinical manpower shortages, we just have around 8% of the total global labour force of doctors, nurses and healthcare workers to address the 20% of the global disease burden we carry with our people. We are short by 5 lakh doctors, 20 lakh nurses and 30 lakh short of other health workers. Fortunately, we are a net exporter of nurses to the world so we have to also back fill the gaps of nurses leaving out of India for those remaining in India. Coming to the capital to address these gaps, we require close to Rs 30 lakh crores or $430 billion to come to the global average of hospital beds. Another Rs 2 lakh crores or $29 billion is required to build capacity for healthcare manpower. Therefore the total investment is approx $460 billion. To give you the magnitude, 165 countries in the world had a GDP of less than $460 billion in 2018. Given the shortage of merit quota seats in Indian medical colleges, students have to migrate abroad for pursuing their medical education. We need an upstream Operations Himalaya in earnest.
Vision for Operations Himalaya
There is a saying “9 men cannot make a baby in 1 month”. Similarly, students enrolled into medicine today will add incrementally to the workforce in next 4 years. The silver lining is that this capacity building spend would lead to $1.45 trillion of additional incremental to the GDP after 5 years as 1 incremental bed capacity creates 28 jobs over its lifetime. In other words healthcare economy in India as a standalone would itself be #16 nation in terms of GDP. The table outlines the future of Medical Education.
What is the Future of Medical Education? As per the Milbanks Report on the Future of Academic Medicine 2025, there are 3 key trends that are impacting medical education
Digitalization of Healthcare new science and technology, particularly genetics and IT speed of internet and digitalization unimportance of distances 24/7 society lack of agreement on where healthcare begins and ends
Personalization of Healthcare rich and poor gap seeking “wellness” and rise of self-care & sophistication increasing anxiety about security and ethical issues emergent diseases
Globalization of Healthcare gap between what can be done and what can be afforded increasing accountability of all institutions loss of respect for experts (more so after the pandemic) economic and political rise of India and China
Future of Medical Education
There needs to be a top-down vision for expanding the supply of clinical manpower in India which needs to be tied to the healthcare outcomes our healthcare system needs to achieve. The following framework which I presented earlier outlines the process for setting up the vision.
Our Health Markers – Linking Medical Education and Health
In the past I have defined these as the 3 A’s.
Affordability: The Cost and Benefits of Developing Careers in Healthcare in India
Accessibility: Providing trained staff in different parts of India
Assurance: Training to medical professionals meets global standards to perform in any healthcare system
Key Issues: Healthcare Manpower Economics:
It costs approximately Rs 2 crores per seat to set up a medical college for 100 seats in India. While this may be economical, investments in medical colleges and doctor training is a lengthy process; therefore, changes implemented to alter supply do not have immediate effects on the supply of trained healthcare professionals. A recent estimate reveals that as many as 40% of rural posting by trained medical graduates and post graduates in different states in India are not fulfilled. There is a huge shortage of gynaecologists, cardiologists and child specialists in rural hospitals in the government sectors. Hence the government announcement to increase the supply of medical graduates may still not address the accessibility issue. We may end up importing clinical manpower from lower cost destinations if we are not able to produce these cost effectively in India.
Medical education is supposed to be overseen by the different Councils of India, which is responsible for ensuring the quality of both the infrastructure and the professors at India’s medical institutes and also provide assurance that they meet the global standards. Since demand is high, it is difficult for schools to retain faculty over the long term, which creates a lack of continuity in both the school’s practices and its policy. The plethora of new and underequipped medical schools will create more doctors and healthcare professionals on paper, but will lower the quality of the doctors produced, further exacerbating the preexisting shortage. So, while attempting to alleviate a shortage of doctors, India has managed to create a completely new crisis on top of the preexisting one – the shortage of teaching professionals in these medical collages. Various estimates put this somewhere between 75,000 to 100,000 trained teachers and professions currently.
Finally,
Mere policy announcement for opening up more medical colleges in India is not the panacea for solving the shortages in the supply of healthcare professionals and the people to train healthcare professionals. It is time we look at the issues holistically and plan for the future by going upstream towards the Himalaya from the current emergency evacuation of Operation Ganga!
Also Read Article published in my Column – A Dose of IT published in Deccan Chronicle and Asian Age – 14 February 2011
Rs 1 Crore crores Human Capital Impact – A Generation Lost
My presentation at the 21st World Quality Congress a fortnight ago just highlighted the human capital impact due to healthcare and education in India. A whopping Rs 92,28,230 crores to the Indian economy at net present value! This is like creating over 1500 TCS or Infosys or Wipro in today’s size overnight in our economy.
Let us understand, although India has 18% of world’s student population that is the largest in the world, its policy and direction on higher education, including medical and health sciences sector is not clearly articulated towards inclusive development. Regulation, size of funding to this sector, both public and private is one of the key determinants of India’s ability to generate wealth (GDP). Moreover sectorial priorities and directions in sectors such as health sciences, infrastructure if not clearly addressed could create future crisis in the economy and further impede economic growth.
On the demand side, we already know that India contributes to 18% of world’s population, however its share of world’s disease burden is 20%. Hence to treat the increased disease burden, India requires incremental human capital of doctors, nurses and other health workers. But the issues get very grave for India. We have around 8% of world’s doctors, nurses and health workers. Hence we may have to create more human capital in healthcare to treat India’s disease burden. What’s more, of the Rs 490,000 crores we currently require for skills repair to make the current human capital coming out of our colleges and universities, approximately 25% of this is to the medical and nursing schools make the graduate doctors, nurses and health workers job ready.
On the supply side, there are competing careers options and sectors that await the aspirants that are entering the colleges and universities to take up courses. Using the Lev and Schwartz model for human capital valuation, we evaluated the value of different careers in health sciences versus other sectors. What is interesting is that a nurse who decides to work in India human capital value would be Rs 19 lakhs while a surgeons with a master’s degree is around Rs 1 crore. Other non medical sectors are equally attractive in terms of their human capital value. Hence the issue for India is how do we make this attractive for aspirants to take up medicine as a career. While shortage in supply of doctors, nurses and health workers in the economy will obviously push up their human capital value, knowing the disease burden of India. However, we will lose a whole generation of boomers!
But all is not lost for India. Our enrolment ratio in higher education is 12% and is half of China’s at 24% of all students passing out of secondary schools. Hence even to match China’s enrollment, we would create a total human capital of Rs 1 Crore crores using the same valuation model at higher education level. To meet this potential, we need to be opening over 25 colleges everyday for the next 3 years in the brick and mortar world!
We will again fail to create such huge capacity in the real brick and mortar world as we have under supplied the infrastructure sector due to the boom in other sector in the last decade. Hence the only option left behind for the present generation to graduate through higher education is through ICT (online) world. Over the last 5 years there have been many ventures that have come forward looking at the wider opportunity in the ICT space for medical education. However the key barriers have been the regulatory and accreditation agencies that have slowed down the mass adoption.
It is time that we wake up to the huge human capital potential awaiting India. If we fail to deliver, we not only diminish this human capital over Rs 1 Crore crores, but the increased disease burden that I wrote about in my earlier column would cost us over Rs 25,00,000 crores of diminished human capital potential!
It’s all about the quality of human capital we produce and how we produce it that will matter for this generation that is passing us in India. This is the biggest scam that none of our future generations in India will forgive us as Indians.