Frost & Sullivan's Growth, Innovation & Leadership (GIL) Congress has reached Indian shores. Global president and managing partner Aroop Zutshi talks to Darlington Jose Hector on what corporations around the world need to look at to emerge stronger with the financial crisis having bottomed out. Excerpts:

What do you think is a CEO's key responsibility today ­ driving, growth, fostering innovation or developing leadership?

The CEO's primary objective is to drive the company's growth. He gets rewarded handsomely if he succeeds in achieving that goal. But he could get fired, too, if he does not meet the job requirements.

Hence, the driver is always growth, even during a downturn. The CEOs have had to navigate through the crisis and create the necessary liquidity during these tough times. Cash becomes critical. That does not mean innovation and developing leadership are not important.

What are best practices that a company should adopt in such times?

The CEO has to ensure that the vision of the organisation spreads to all employees. There should not be any disconnect between the CEO's vision and how the employee receives it.

Which of the BRIC countries (Brazil, Russia, India and China) do you think has the best chance of going into the big league?

China leads the pack. The ability of the Chinese government to be able to implement the stimulus package so meticulously is amazing.

China will be the first to enter the big league from these countries. It also has a huge domestic market.

Which are the business streams that are most likely to do well in India?

Retail looks the best bet. That vertical will continue to thrive and grow due to the growing middle class.

The next three to five years will be crucial for the sector. Electronic manufacturing will be another rising segment.

What are the attributes of a good business leader?

A good leader has to be a visionary. He should be knowledgeable. In addition, he should be able to inspire people. Leaders such as Nandan Nilekani and Sunil Bharti Mittal are good examples.

Are companies devoting enough time and attention to R&D in India?

No. None of the Indian companies are allotting enough toward R&D, unlike the western countries. One needs to keep aside 10-15 per cent of the revenues for R&D.

Which are the emerging countries where Indian companies can focus on?

South Africa, Libya, Turkey and Eastern Europe are the emerging countries where India can focus on.

South Africa is a great destination for transportation, logistics, metals, mining, energy and power. Libya offers opportunity for telecom infrastructure and in Turkey one can look at aerospace and defence.Eastern Europe is still a great place to do business in healthcare.