Changing The Indian
AN ET EDGE INITIATIVE
A CONSUMER CONNECT INITIATIVE
RESPONSE TO PANDEMIC PROVIDES
TEMPLATE FOR NEW AGE INNOVATIONS
The How And Why Of Innovations To Make The World
Healthier, Safer, Smarter And More Sustainable
Deepak Lamba
Chief Executive Officer,
Worldwide Media &
President, Times Strategic
Solutions Limited
As the pandemic has
amply exhibited,
times of adversity
give rise to
opportunities for
innovation. In the
last two years, we
have witnessed
first-hand, how
technology can
reimagine the
contours of life and
business. We have
also witnessed how
innovation can
drive the greater
common good.
Therefore, especially
for India Leadership
Council, it is
imperative to focus
on innovation as a
growth driver and
steer conversations
around it in every
sphere of business.
“The Economic Times India Leadership Council (ILC) is India’s most exclusive membership-based peer group initiative that brings together a select group of senior business leaders from across India Inc.”
Business Landscape CIRCULATED WITH THE ECONOMIC TIMES, ALL INDIA MONDAY, MAY 30, 2022
The pandemic may have inaugurated a period of optimism in
technological innovation for greater common good. It will also
usher in a wave of investments and partnerships that will help
leverage new opportunities in innovation.
E ver since pneumonia cases caused by
an unknown pathogen, later identified
as SARS-CoV-2, were reported from
Wuhan in China in December 2019,
the world has gone through a period
of extraordinary adaptation. The
virus spread rapidly. By 11 January,
2020, Thailand reported the first lab Anand Mahindra
confirmed infection outside China. Chairman, Mahindra Group
On 15 January, Japan made a similar
announcement. The United States
detected its first case on 21 January,
2020, and on 24 January, France
did. The virus spread so fast that
on 11 March, 2020, the World Health
Organisation (WHO) declared the
We are blessed with an
disease a pandemic. innovative mindset. We need
Though vital days were lost between to build on it, to think big. Let’s
the outbreak of disease and the
Chinese government’s alert to the expand the idea of
world, the response of governments, “Make-in-India” to “Imagine-
the scientific community, the test to detect it. By the third week of innovation. Scientific advances dating
pharmaceutical industry and March 2020, the research-based global back to the previous century helped us in-India.” And help people
philanthropic organisations was quite pharmaceutical industry had made a quickly cope with a disease that had everywhere to Rise.
unprecedented. Genetic sequences commitment to address Covid-19. forced the grounding of international
of the virus were available by 10 With hindsight we can look back flights, the closure of international
January, 2020. Two days later, WHO at this period as one of optimism
published the protocol for an RT-PCR and advancement in technological Continued on page 2
Innovation Starts with a
India is still a developing country and this
Holistic Understanding of an
provides an opportunity to create new models Organisation’s Challenges
and solutions for the problems facing society. Umar Ali Shaikh
Can we develop a more sustainable model for Chief Executive Officer & Head of India
the urban transportation problem? Can we National Business, Atos India Pvt Ltd.
provide better healthcare solutions built on digital Innovation is typically
the introduction or start
technologies that is affordable and accessible of something new that
for all? Providing quality education is another could be an outcome
challenge that requires new solutions. It is no primarily driven by
quest, hurdles, or
wonder that entrepreneurship is thriving in pain identified from
Kris Gopalakrishnan India and these new businesses are attracting time-to-time. In my
view, the following
Co-Founder, Infosys
and Founder, Axilor
significant funding. Marrying new models and are the essentials
Ventures solutions with the emerging technologies and of innovation: (a) A
holistic understanding
the entrepreneurial spirit of Indian youth is the
NR Narayana Murthy of the problems or challenges (b) A premise
Innovation Code that I see emerging. Founder & Chairman Emeritus, Infosys that innovation requires continuous effort with
steadiness and flexibility, and innovation-led
growth is critical to business, (c) Dedicated
attention, patience, proper groundwork, and
investment. Factors like leadership support,
The rapid rise in innovative proactive investment, and inducting the right talent
Culture of Innovation Requires Clarity of Purpose and Vision digital disruptors is reinventing for driving innovation are vital for the innovation
ecosystem to succeed, and (d) Constant feedback
every element of our life. from the target segment - to ensure that innovation
Vineet Chattree realities. The vision that fosters innovation Businesses like education, is proceeding towards the desired outcome.
should not only be challenging but be clear The first step of talent management is to instil
Director, Svatantra Microfin Pvt Ltd &
Svatantra Micro Housing Finance Corp Ltd. to all stakeholders. The second dimension is food, banking, healthcare, a culture of continuous dialogue up to and beyond
the inherent ability of the leadership team for entertainment, media, retail, the first-line manager, which must be monitored
Change is inevitable in today’s world of inclusion, decision-making and risk-taking and reviewed by leaders having a digitised,
volatility, uncertainty, complexity, and based on its capacity to obtain and process insurance, social interactions, objective dashboard to give a clear view of people’s
ambiguity (VUCA). Charles Darwin said, relevant data. wellness and other forms aspirations in the organisation.
“It is not the strongest of the species which For successful and sustainable execution of While talent identification is vital, it is equally
survives nor the most intelligent, but the innovative initiatives, organisations should of human needs have seen important to fit it into the right buckets. To identify
species most responsive to change.” No address all three pillars of business together significant transformation. talent, it is not enough to observe key performance
organisation can isolate (and not any one or two), that indicators but also to have frequent conversations.
itself from external forces. is people or talent, process and
Technology and non-technology Digital engagement is now a way of life and it’s
Innovative culture is product. Any innovation that giants and startups have realized impacting each one of us, both in our personal and
therefore not only ‘good does not cover all the three can professional spaces. The success of digitalisation is
to have’ but ‘imperative to at best be a great idea or an
the power of digital innovations. closely linked to the quality of connectivity and in
survive’. incremental initiative. Novel technological applications turn is linked to ‘digital security.’
Organisations talk about There are many metrics are coming up every day. These Another aspect is the scale of maturity and
innovation but are often to measure the success of adaptability of the digital transformation journey
the biggest bottlenecks for innovation but for me, any initiatives have resulted in an for the organisation and its end-users. What is
change. For me the following innovation should improve extraordinary expansion of essential for digitalisation to thrive and succeed is
two dimensions are critical trust (within the team), the right level of awareness, proper explanation,
for success. The first turnaround time (efficiency India’s innovation ecosystem. adequate planning, and visualisation of benefits
dimension towards fostering and productivity) and With over 35 unicorns, India has that digital transformation is secure and inevitable.
a culture of innovation is clarity of purpose transparency (scalability). These may be This will hasten the process of digital adaptability.
and vision. Clarity of purpose engages and measured based on the context and the become the world’s third-largest While we progress rapidly towards technological
inspires investment in new ideas and for relevant stakeholder being addressed. unicorn centre, a feat that no innovation and digital transformation, we
reasons beyond traditional corporate metrics. The availability of knowledge and must also consider the aspect of sustainability.
It also develops an ecosystem within or technology has enabled the DNA of creativity
other developing country has Like innovation and digital transformation,
outside the organisation’s boundaries. Clarity and innovation. The leadership challenge lies matched. sustainability is a continuous process. There has to
of vision sets the organisation on the path in channelising these towards the purpose and be a defined and measurable system to know where
of addressing changing market or customer vision of the organisation. we stand and reach.
For more details, please contact +91 9350905798 or email: ILC@timesgroup.com
 MONDAY, MAY 30, 2022

2
Changing The Indian Business Landscape
FAST TRACKED COVID-19 VACCINES
KINDLE OPTIMISM ABOUT TECHNOLOGICAL
INNOVATIONS
Continued from page 1
borders and the lockdown of
economies. It had overwhelmed
the health infrastructure of even
the developed countries. But on
16 March, 2020 within 66 days of
the genetic sequence of the novel
coronavirus being made public,
the first mRNA vaccine developed
by Moderna was injected into a
candidate in Seattle. It marked
the beginning of human clinical
trials to test the safety and efficacy
of the jab. On May 5 that year,
Unlike vaccines made with
attenuated viruses, mRNA
vaccines don’t contain any virus
fragments. The messenger RNA
is synthesised in the laboratory
and when injected into our bodies,
instructs the cells to produce spike
proteins. The body’s immune
cells then mount an
antibody response.
Pfizer and BioNTech announced
the commencement of clinical
trials of their own mRNA vaccine.
In December 2020, the US Food
and Drug Administration gave
emergency use authorisation for
the two vaccines making them the
first mRNA vaccines available to
the public.
Unlike vaccines made with
attenuated viruses, mRNA
vaccines don’t contain any virus
fragments. The messenger RNA
is synthesised in the laboratory
and when injected into our bodies,
instructs the cells to produce spike
proteins. The body’s immune cells
then mount an antibody response.
Should a real infection occur, the
body’s immune system would
have been primed to recognise
the viruses and fend them off.
So far, nine vaccines have been
approved for use against the novel
coronavirus and another 153 are
undergoing trials.
At the other end of the spectrum,
innovations in digital payments
and electronic commerce helped
us cope with immobility forced
on us by multiple waves of
the pandemic. The pandemic
turbocharged the digital economy.
People opted for contactless
purchases and payments either
because immobility was forced
on them or of their own volition
to avoid the risk of infection.
Though cash continues to reign,
payments via mobile phones are
growing dramatically. As per the
Reserve Bank, the number of QR
codes has risen from nearly 16
lakh in pre-pandemic November
2019 to 152 million in January
2022. This excludes other modes of
digital transfers via the internet
or by cards.
A beneficial fallout of the
widespread resort to digital
payments is another innovation:
lending based on cash flows or
transaction-based lending. Credit
is getting democratised as people
who did not have collateral to
offer to banks, or collateral that
was acceptable to them, can now
get credit based on their business
transactions. It is now possible for,
say a vegetable vendor, to borrow
a working capital loan in the
morning and repay the micro loan
the next day. Such sachet loans
were not possible earlier because
of high operational cost which
digital technologies have greatly
compressed. With the Reserve
Bank of India approving the
Account Aggregator framework
that permits entities like banks
to share transaction details with
lenders with the consent of
account holders and platforms
like the Open Credit Enhancement
Network (OCEN), a revolution in
lending is very likely.
But innovations are often
not revolutionary. They happen
incrementally with continuous,
small changes which accumulate
Continued on page 3

Can Technological Fixes Produce Sustainable Economic Growth If

Consumption Is Not Reined In?
We Rode on an Innovation by Tapping Learning will Continue to Play an Important Role in Driving Innovation
Less-explored Possibilities Sapnesh Lalla decade. traditional jobs build enterprise-wide skills and
Chief Executive Officer & Executive The learning redundant and the capability matrices to bolster their
Rajesh Ganesh industry is truly demand for new talent pipelines. We’re also bringing
Director, NIIT Ltd
Managing Director, Indian at the epicentre skillsets is shooting the same principles of automation
Oiltanking I’ve always thought of innovation of change. Who through the roof. To and digital transformation to
as the simplest and most efficient would have thought top it all, employees make learning operations more
A constant process of trying way to solve a problem. As Thomas there would be a want more engaging efficient. Perhaps, the greatest
something new, simplifying it so Alva Edison said, “The value of an Great Resignation learning experiences focus of innovation is on learner
that adoption at scale is achieved, a idea lies in the using of it.” If it is right in the in the flow of work experience. We’re making learning
process which has the appetite for simple, efficient, and brings positive middle of a global to match their digital more personalised through learning
risk-taking and experimentation change, it is innovative. pandemic? There behaviour in the real experience platforms that offer
embedded in its core, is Innovation. To me, the very idea of NIIT is is an exponential world. personalised learning paths just
India Inc.’s growth depends on innovative. Forty years ago, two rise in the demand How do we like Netflix would offer you movie
the engines of innovation and young IIT graduates thought of an for talent and skill building solve these challenges through suggestions. Through immersive
consumption. They drive each innovative way to solve a problem given the ever-widening skills innovation? learning, we are helping learners
other to the next notch. A slowdown – how can unemployed graduates gap, the shortage of talent and Our strategy has always been break away from screens and
in one will affect the other. become computer literate? That the increase in resignations to align learning as closely with experience learning scenarios in a
It’s important that innovation idea born on a monsoon day made worldwide. Moreover, many global the business as possible. We different dimension.
manifests through new ideas that NIIT the crucible of India’s IT organisations have discovered are creating a Future of Work As this challenging decade
address economies and every shade revolution. that a hybrid or remote work framework to help organisations continues, I feel that learning will
in the demographic spectrum. Four decades later, the world environment could be a permanent determine their current and continue to play a more prominent
To create the need and takers for oceanic liners and cross-country continues to present new challenges phenomenon. Automation and future talent roadmaps. We are role in driving innovation and
innovation, we must invest efforts pipelines. but none as unique as those of this digital transformation are making helping large, global organisations change.
in (a) Identifying concepts that We rode on an innovation simply
could take an existing intervention by tapping into less-explored
further ahead (b) Identifying possibilities and have 23 years of
the underserved (c) Tailoring
an intervention that could make
success on our wings.
The past two years have been a Sustaining Innovation and Disruptive Innovation Motivating People Across a
a better world for them, and (d)
Creating the space for an idea in
lesson in operating from a dynamic
workplace beyond physical offices. Evolve While Seeking to Revolutionise Company to Constantly Innovate
their thoughts and within their
means. The deeper our thoughts
This has pushed innovation
in talent management beyond Suresh Sethi to drive innovation. It is also important for is a Challenge
penetrate the social strata, and the conventional means. Managing Director & Chief Executive employees to feel encouraged and supported
more people are connected through Sustaining and disruptive Officer, Protean eGov Technologies to develop new ideas — which is why talent Sebi Joseph
such interventions, we would innovations are essential to management is critical to the innovation President, Otis India
have all metrics of participation, accelerate our overall indices. In “Change is crucial. It brings new thought; process.
feedback, development and the discovery of new, disruptive new thought leads to innovative actions,” In India, many companies are adopting Innovation has gone
multiplier effect heading north. innovations, we can’t steal away former President APJ Abdul Kalam said. ‘sustaining innovation’ to achieve beyond product inventions.
The essentials of innovation commitments from innovations The pandemic has disrupted business their business goals in a socially and It encompasses services,
haven’t changed drastically and that are proven successes, but models. It has changed the behaviour of environmentally responsible manner. experiences, prices… It
reflect our own journey of 23 years. whose value is not yet fully utilised. consumers who have shown an amazing Sustainability in innovation also drives has also gone beyond one-
We wanted to be a pioneering At the same time we can’t rest agility in adapting to digital economic growth, as it helps or two-person teams. It is
private player in India’s then on our successes and loop in a safe mediums. There has been streamline resources, cuts necessary for the entire
liberalised nascent energy sector, game. A leap into something new accelerated adoption of expenditure, reduces waste company to be constantly
serving in a space no one did. is the first door opening into new digital technology across and creates new market innovating. Motivating a
We chose the midstream energy possibilities, untapped markets, businesses, regardless of opportunities. large number of diverse
ecosystem, with ample opportunity that could challenge the old norms size, sector and segment. We at Protean (formerly people to collaborate is a
to provide infrastructure services for something better, greener, and Some of them have NSDL e-Gov) recognise that challenge. It requires (a)
where there was and remains a more beneficial. Our quest for new discovered new business we are evolving towards purpose and (b) culture. is now a manufacturing
need for a world class player. We energies is rooted in disruptive opportunities that will last collaborative ecosystems Purpose gives the company and engineering hub
discovered that oil companies innovation, that could deliver more long into the future. Others and are striving to be one direction and a reason for various parts. The
wanted to outsource logistics, benefits over the existing energy have developed skills that of the main contributors to exist. Sustainable country’s ranking in Global
which made us the leading mix, while offsetting the burden on can be reapplied to solve in creating and building innovations are those that Innovation Index 2021 was
providers of terminals and O&M. conventional power sources. problems and discover ‘Open Digital Ecosystems’ transform lives. A culture 46 out of 132 economies, up
Our expertise in terminals and Eco-innovation exists on the opportunities. across sectors which would of innovation encourages from 48 in 2020.
logistics was coupled with in- intersection of sustaining and Organisations should be transparent, secure and employees to come up with The elevator industry
house build capabilities. We have disruptive innovation. While our be intentional about their enable a community of ideas and take risks. In such has adopted IoT. With
completed projects in 14 Indian needs, markets and consumption various needs when it comes to disruptive actors to unlock innovative, disruptive and a company addressing new digitalisation one can get
states and several abroad, covering will be ever increasing, we must innovation vs. sustaining innovation and transformative solutions for society, based challenges and unearthing to the desired floor in the
every other Indian state and look at our footprint and cause- utilise each accordingly, with purpose. For on a robust governance framework. We new possibilities are the quickest possible time and
half the globe, besides marrying effect cycles before they grow large organisations, both types of innovation expect that the full potential of technology norm. register the ride from one’s
waste management with energy too large to manage. Innovations − sustaining and disruptive are useful and and community will be realised by using Since the modern mobile phone. Elevators
generation of nearly12 tonnes that facilitate greener mobility or can help secure success. Companies that open APIs, open standards, open data and elevator was invented in can now be bought online.
of fuel per day. Our philosophies address the very need of mobility rely solely on sustaining innovation are modular architecture, thus facilitating 1853, the industry has seen As cities continue to grow,
convinced two major national would help in cleaner air, freer susceptible to disruption. If you work in a interoperability and unlocking shared value many changes. Speed and elevators will remain
companies to think beyond captive streets and more productivity, mature organisation, developing a strategy across stakeholders. capacity have increased to in demand. Disruptive
oil terminals and join us to have a enabling us to milk resources at a that incorporates both disruptive and We believe that for any organisation to be move more people faster. innovation, against the
shared terminal, a first in India’s slower pace than ever. The time is sustaining innovation can enable you to innovative it needs to align its innovation Elevators now have drives backdrop of purpose
hinterlands. Our shared terminals ripe for alternate fuel sources, and compete at either ends of the market. strategy with business objectives, create that regenerate wasted and culture, will help
with a capacity of two million we’re proud to be developing more Culture and leadership play an important structures that empower advancement, energy, and components improve the experience for
cbm welcome every storage need, innovations in this space, while role in innovation success. High performing align it with societal outcomes and establish that need less lubricants. customers and passengers
in oil, gas and chemicals ranging addressing the issue of ecological organisations are significantly more likely to a culture that encourages innovation to Elevators have helped in the and sustain elevator
from tanker trucks, rail wagons to waste. have formal, defined strategies and processes survive as well as to prosper. development of cities. India companies for the long haul.

DISCLAIMER: The views/contents expressed/presented herein, are the sole and exclusive responsibility of individual respondents and/or their authorized representatives, to which effect, Publication house / its representatives are not responsible/liable whatsoever.
 MONDAY, MAY 30, 2022
Changing The Indian Business Landscape
PANDEMIC QUICKENS ADOPTION OF DIGITAL
PAYMENTS INNOVATIONS; CREDIT WILL GET
DEMOCRATISED NEXT
Continued from page 2
to make a big difference over time.
The Indian engineering industry
got a grounding in innovation
as continuous, incremental
improvement with the Japanese
setting up the Maruti car factory
in India in 1981. This is embodied
in the Japanese business
philosophy of Kaizen and is based
on protocols like total productive
maintenance, to reduce costs by
eliminating reworks and wastage
and striving towards eliminating
defects which are measured not in
percentage terms but in parts per
million (ppm). It also requires the
management to listen creatively
to the suggestions of workers on
the shopfloor and to customers in
order to anticipate their needs.
‘Jugaad’ is often hailed as
innovation with an Indian twist,
but it is not, says
Dinesh C Sharma, who has
authored a book that
lists 100 innovations since
Independence that have
transformed India. He says
‘jugaad’ is over-rated; it is
quick-fix improvisation, often
by cutting corners that
produces unsafe and
sub-optimal results.
Companies Must Invest In Innovation For A Circular Economy; They Must Practice
Sustainability While Offering Sustainable Solutions
We have Implemented Many Sustainable Solutions Across our Offices
Sameer Khatri
Regional Director – Indian Subcontinent
& Managing Director, India,
DSV Air & Sea Pvt Ltd
At DSV we innovate for our customers.
In a rapidly changing world, people
have higher demand from products
and services they buy and technology
provides smarter ways to supply it.
We believe that with cutting-
edge operations, right products and
continuous innovation, customers will
always choose us. We stay inspired and
embrace innovation by digitalising our
core business and creating new digital
solutions – all for the better customer
experience.
5G is Poised to be a Game Changer for
Digital Transformation
Puneet Gupta
Managing Director & Vice
President/SAARC, NetApp India
Practically every business is
driven by technology and data.
This fuels the drive to innovate
to meet customer requirements.
In a dynamic environment, an
enterprise’s ability to deliver
personalised experiences will
define its performance and
longevity. Ability to leverage
data in a secure and actionable
manner has become as important
as a brand’s balance sheet or
other business performance
indicators. Data is indeed the energy efficiency and resource
new oil. Its availability and usage
offer competitive advantages for
management. Among the many
use cases, technology and data
organisations which are defining will be leveraged in a big way
and disrupting innovations across across environmental monitoring,
multiple spheres. resource management, and supply
5G is poised to be a game changer chain processes.  stage by thoroughly understanding
for digital transformation. From Fast technological advances will
self-driven cars and industrial
IoT, to smart cities and smart
require a change in the approach
towards talent. Aided by remote
healthcare, 5G will drive novel working, demographic diversity
innovation. The intermingling of has been a key enabler of fostering
machine-to-machine connectivity an inclusive culture within the
and increase in data generated, organisation. This has become
will determine the success of an important business goal and a
enterprises. Innovation will also key contributor to an enterprise’s
be driven by sustainability, which success and will continue to
will prompt businesses to leverage have a significant impact on how
IoT-related solutions in areas of innovation shapes up in 2022.
DISCLAIMER: The views/contents expressed/presented herein, are the sole and exclusive responsibility of individual respondents and/or their authorized representatives, to which effect, Publication house / its representatives are not responsible/liable whatsoever.
3
‘Jugaad’ is often hailed as inputs of water and fertiliser,
innovation with an Indian but the green revolution was not
twist, but it is not, says Dinesh merely a technological marvel.
C Sharma, who has authored a Innovations in procurement –
book that lists 100 innovations the government’s assurance of Innovations in procurement – the government’s assurance of
since Independence that have buying at pre-set prices whatever
transformed India. He says was brought to the mandis – buying at pre-set prices whatever was brought to the mandis –
‘jugaad’ is over-rated; it is quick-
fix improvisation, often by cutting
allowed farmers to focus on the
production function without being
allowed farmers to focus on the production function without being
corners that produces unsafe and anxious about selling the produce. anxious about selling the produce. Similarly, the daily nationwide
sub-optimal results. His list of Similarly, the daily nationwide
innovations includes the green reference price for eggs which reference price for eggs which the National Egg Coordination
revolution which was the result of the National Egg Coordination
high-yielding, dwarf varieties of Committee set resulted in the Committee set resulted in the poultry revolution in India.
wheat and rice developed outside poultry revolution in India. It was
India. They were responsive to the brainchild of B V Rao of the
Venkateshwara Hatcheries group.
Among other transformational
innovations in Sharma’s list are
sachet shampoos which allowed
producers of consumer staples
to tap the bottom-of-the-pyramid
market. Much of the innovation in
India over the past few decades has
been in the field of information
and communication technology,
of which the STD revolution is
quite notable. The subscriber
trunk dialling (STD) booths which
sprang up across the country
during Prime Minister Rajiv
Gandhi’s time allowed people
easy access to telephony when
it was a public sector monopoly.
Fixing the Year 2000 (Y2K) bug
gave impetus to India’s software
services industry. Today, there is
an ecosystem that supports digital
startups. Venture capital is easily
available for winning ideas and
many unicorns or startups of a
billion-dollar valuation have been
created.
This is possible only in an
open society where ideas can
be freely exchanged without
offending ideological gatekeepers.
It requires the government to be a
neutral umpire, providing policy
support, and not favouring one set
of players over another.
The Philosophy of Recycling Must
Replace that of Extraction
Innovation takes place on all levels at alkaline reverse osmosis (RO)-water
DSV and in many countries around the plant at our Gurgaon office and plan Pankaj Garg Industry and policy makers to
world including the Indian subcontinent. to do that gradually across all offices Group Chief Executive work towards more radical and
Our innovation focus areas are: to do away with plastic water bottles. Officer & Managing systematic improvements in
(a) Business digitisation to make Our scrap is recycled and reused. For Director, Medreich environmental performance.
our operations more efficient through office hygiene, we use only eco-friendly Eco-innovation calls
automated processes and reduced unit items to wash fruits and utensils and With depleting resources attention to the positive
costs bio-degradable bin bags. We don’t use of Mother Earth, climate contribution that industry
(b) Customer experience improvement plastic or paper cutlery in the office. change and global focus can make towards sustainable
through innovative products and services Oxygen-generating plants in the office on environment, society development and a competitive
(c) New digital models and growth are planted in fibre or ceramic pots. We economy by taking new
opportunities recycle and reuse water in our Gurgaon, business approaches which
(d) Quick and smart innovation Mumbai, Chennai and Ahmedabad promote sustainability through
through collaborations. offices. the lifecycle of products and
There are many in-house sustainable Our endeavour is to continue with processes, while boosting
innovations that DSV India office has these innovations for a greener and its own performance and
initiated to significantly reduce our brighter future. competitiveness. This type of
carbon footprint. We have installed big innovation is framed within
the circular economy model.
It aims to redefine the current
linear model based on the
Move from Power Point Presentations to Power extraction, production and
elimination of resources to the
Packed Performances recycling of resources.
In addition to the main
objective of eco-innovation,
Prasad Chavare there are some specific ideas
Managing Director and Chief Executive that help us better understand
Officer - India and South East Asia, this innovation model. In the
Foseco India design stage of any product, its
“Leadership and Innovation : By
Eco-innovation future environmental impacts
must be considered, both in the
committing to innovation, leaders can calls attention production process and during
make things happen by displaying the subsequent life cycle of
customer-centricity and creating an to the positive the product. This stage is one
enjoyable experience for their employees of the keys to eliminating or
to create sustainable competitive contribution that reducing the waste generated.
advantage. It needs a far-reaching vision
provided it’s realistic enough to inspire
industry can make Before being implemented,
industrial processes must
today’s actions – ‘Think Beyond. Shape investing in people. As the organisation towards sustainable account for the by-products
the Future.’” grows, processes take centre stage. and waste generated. This
Innovation is a mindset. It’s about It’s important to drive result-oriented development and a will make it possible to
thinking and doing things differently behaviour rather than process following condition the by-products
to make a positive impact. ‘Impact’ is behaviour. Innovations should have the competitive economy for incorporation into the
the driving factor, and innovation is the
magic wand that leaders have to win in
ability to beat financial and non-financial
key performance indicators (KPIs).
by taking new industrial fabric. A key aspect
of eco-innovation is social
the marketplace by creating sustainable Setting bold aspirations, making business approaches awareness. Little by little,
competitive advantage. tough choices, and inspiring teams are the philosophy of extraction,
Leaders can bring innovation at centre important. Leaders should establish a which promote production and disposal of
strong correlation between innovation materials and products should
customer needs to create value for them. performance and the company’s financial sustainability be replaced.
Innovative solutions enable customers to
not only improve the way they operate but
and other non-financial KPIs. Moving
from executors to innovators is an
through the lifecycle By supporting new
processes, technologies and
also create value by improving quality, important skill for leaders to bring of products and services that make businesses
safety and sustainability performance. innovation into practice. Focused events greener, companies optimise
Having a decentralised global and open debates will help them solve key processes. their growth potential
organisation with the right ownership issues by involving ground-level teams. while addressing common
helps drive innovation. Organisations Leaders need to move the organisation & governance (ESG), eco- environmental and scarce
should spend less time on internal from ‘Power Point Presentations’ to innovation has become critical resource challenges. Eco-
alignment and focus on innovations ‘Power Packed Performances’ by having for companies. Significant innovation is an opportunity
that local markets need. They should quantifiable targets for innovation in immediate focus is required for businesses and strengthens
encourage entrepreneurial behaviours by strategic plans. for innovation as a way for a company’s image.
 MONDAY, MAY 30, 2022

4
Changing The Indian Business Landscape
ROLE OF GOVT. NEEDS REIMAGINING FOR
REVOLUTIONARY INNOVATIONS

A
fter economic reforms
were ushered in, in 1992, India
began following what is known
as the Washington Consensus:
liberalisation, privatisation and
globalisation. The government
was supposed to get out of the
business of running businesses. It
was supposed to create competitive
conditions so that the private
sector could meet consumer needs
efficiently.
Though Indians are more
prosperous and have a wider
choice of goods and services,
the economic growth of the past
three decades has been skewed.
There is more inequality. Millions
of people have been pulled out
of poverty, but their quality of
life is poor. The market has made
modes of personal transportation
The challenges posed by climate
change will not be addressed
entirely by the market. India will
have to shift from dependence
on coal and oil to electricity
produced from renewables or
green hydrogen. We will have to
produce more food, feed and fibre
for a growing population with
less: less water, fertiliser, land and
agro-chemicals.
affordable, but it has failed to keep
the air in the cities clean; urban
India is choking on smog.
The challenges posed by climate
change will not be addressed
entirely by the market. India will
have to shift from dependence
on coal and oil to electricity
produced from renewables or
green hydrogen. We will have to
produce more food, feed and fibre
for a growing population with
less: less water, fertiliser, land
and agro-chemicals. We will have
to shrink the carbon-intensity
of our GDP. We will have to be
less dependent on imports for
our cooking oil requirements.
We will have to clean up our
rivers, reduce the generation of
trash and treat both garbage and
sewage scientifically. We will
have to ensure that we consume
less plastic and prevent it from
clogging our drains and rivers.
We will have to invest massively
in healthcare and nutrition and
be able to cope not only with the
burden of non-communicable
diseases, but epidemics caused by
new pathogens. These ambitious
goals, to be achieved within short
deadlines, will require public-
private partnerships. Often, the
government will have to make the
bulk of investments and do the
steering.
Creating an entrepreneurial
ecosystem for innovation will
require training civil servants to
be risk-takers and experimenters, problem we are trying to solve, loans and grants to galvanise as were spillovers, some of them in this feature were the product of
says
Professor
Mariana
of
Mazzucato,
Economics at
what is the mission? How can we
get every sector to be a part of this
much bottom-up experimentation
with the business community and
serendipitous, like camera phones,
athletic shoes, home insulation,
decades of research by scientists
at the US National Institutes
University College, London and instead of an industrial policy other types of organisations to foil blankets, scratch resistant of Health, who also had been
author of, “Mission Economy: that tries to promote, say, the top find solutions to those problems. lenses and software. But for the US studying coronaviruses.
A Moonshot Guide to Changing five sectors?’ For Mazzucato, the reference is government, Mazzucato says, we We will, therefore, have to find
Capitalism.” Instead of the Once the government has the Apollo programme, which was would not have had the internet ways not only to socialise the
government handing over money set the goals, like eradicating the Kennedy Administration’s revolution or the nanotech, biotech risk but also the rewards, says
through subsidies, guarantees, co-
investment strategies of different
malnutrition or creating a dozen
carbon-neutral cities, Mazzucato
mission in 1961 to put a man on the
moon by end of the decade. Many
and green tech revolutions. This
may grate on those who think that
Mazzucato. This means designing
tools like intellectual property
kinds to different sectors or says it will have to reframe different sectors were involved: the role of the government is to rights, public private partnerships
companies or different types of policy instruments whether it is electronics, nutrition, software be an enabler, fix market failure and the prices of drugs to reflect
technologies, government must industrial strategy or procurement and so on. And in the process of and de-risk the private sector. The the value collectively created for a
step back and ask, ‘what is the strategy or different design for putting a man on the moon, there mRNA vaccines mentioned earlier common purpose.

Openness, Trust, Team Work And Collaborations Needed To Create

A Culture Of Innovation
The Best Innovations Open Cultures Bridge the Gap Between Decision Makers and Executors
Happen when Teams Jaya Jagadish property of a few individuals. A and foster peer-to-peer learning. Artificial Intelligence (AI) training
and Stakeholders Work Country Head, AMD India
great idea can come from anywhere.
Employees should be encouraged to
Our commitment to environmental
stewardship is reflected in our
and High-Performance Computing
(HPC) applications running on
Together with Trust At AMD, innovation is not about
one product, or incremental
experiment, devise new ways to look
at existing challenges, collaborate,
long-standing corporate values and
culture. For many years, we have
accelerated compute nodes by 2025.
To accomplish this, AMD will need
N. Venu improvements. It’s about driving share information, and learn from been reporting on our environmental to increase the energy efficiency of
Managing Director & Chief Executive disruptive performance with each other’s successes and failures. initiatives and performance. We a compute node at a rate that is more
Officer, Hitachi Energy India each generation and delivering Communication avenues must be laid have expanded the scope of our than 2.5x faster than the aggregate
breakthrough products at a rapid and open for feedback and appreciation. environmental goals to include supply industry-wide improvement made
Sustainability-oriented innovation is at consistent pace. AMD consistently Open cultures bridge the gap between chain (wafer) manufacturing and during the last five years. The 30x
the heart of our business strategy. For delivers products that bend the curve decision makers and executors. product (mobile) energy efficiency. goal would save billions of kilowatt
advancing a sustainable energy future for on performance, power efficiency, the To nurture a culture of innovation, In 2021, AMD announced a goal hours of electricity in 2025, reducing
all, we need technological breakthroughs total cost of ownership (TCO), and we host events where engineers across to deliver a 30x increase in energy the power required for these systems
that neither time-to-value. levels share ideas, work on technical efficiency for AMD EPYC CPUs to complete a single calculation by 97
negotiate with Innovation is not the intellectual papers, exchange industry knowledge, and AMD Instinct accelerators in percent over five years.
the planet nor the
most vulnerable
sections of society.
The energy
revolution that Innovation has Become Purpose-Driven Guidance Frameworks Provide Clarity to
India seeks to
achieve cannot Imperative for Businesses in Hybrid Individuals and Groups to Innovate emissions by 20 percent across our
Amit Paithankar
mature out of
conventional Work Scenarios Vice President - Advanced Design
entire global manufacturing footprint
and shared service facilities by 2028.
means. We Our “Greening By” strategy centres
Centre & Managing Director - South
need innovation in technology, business Anil Bhasin Asia, Emerson
around enabling our customers’
processes and leadership. Managing Director & Vice decarbonisation and sustainability
Hitachi Energy’s innovations in President - India and South Asia, Innovation is deeply ingrained in efforts across several industries with
pioneering digital and energy platforms UiPath Emerson’s DNA. In 2020, we articulated a portfolio of renewable and reliable
help customers overcome complexity, a new purpose that serves as our North energy solutions. Our cold-chain
increase efficiency and accelerate the shift As Professor Klaus Schwab, Star – We drive innovation that makes solutions enable end-to-end food quality,
towards carbon-neutrality. Hitachi Energy Founder and Executive the world healthier, safer, smarter, and food-life extension, and waste reduction
builds on more than 200 years of combined Chairman of the World more sustainable. Being purpose-driven at every point in the value chain.
technology Excellence of Hitachi and ABB. Economic Forum said, we with guidance frameworks provides Recognising that we cannot do
To help organisations achieve Net are at The Fourth Industrial clarity to empower individuals and this alone, our “Greening With”
Zero, we have an eco-efficient portfolio Revolution, “characterised groups to innovate. Our “Greening strategy fosters collaboration among
of products, services and solutions by new technologies that are Of, Greening By, and Greening With” stakeholders. We participate in
that deliver exceptional environmental bringing the physical, digital, framework summarises our approach. industry forums, partner with academic
performance. We are building our company and biological worlds together.” “Greening Of ” focuses on how we can institutions like the University of
on the motto of Diversity + Collaboration = Innovation is characterised Intelligence (AI) with RPA improve our internal environmental Cambridge, UK and VJTI, Mumbai, and
Great Innovation. by new solutions that help in order to automate more sustainability performance. In 2019, engage with governments.
To answer the world’s social and solve real problems. It happens processes and reach new levels we committed to reducing our GHG
environmental needs businesses must when teams work to simplify of productivity.
commit to innovate for the greater good.
We need to walk the talk. Hitachi Energy
complex problems and pursue
ideas with inputs from
People are the assets that
sustain innovation. In an Diversity as a Source of Innovation can Advance and
intends to become carbon-neutral in its
own operations by 2030. We have moved
stakeholders. Innovations
typically tend to be disruptive.
UiPath survey last year, 94
percent of respondents felt that Boost Performance
100 percent to fossil-fuel free electricity in It could be a reinvention of being trained in automation Rohit Markan women’s network focuses on leadership
our operations. We plan to halve emissions an existing solution, product, software has improved their development, career planning and
along the value chain as well and are or technology, or a brand- job performance. Eighty nine Managing Director – Indian Region, growth, and industry exposure.
working closely with suppliers to achieve it. new idea. They generate percent of the respondents Roquette Recognition and motivation at
Sustainable partnerships and new markets and values. were willing to continue People are at the heart of our strategy every step play a vital role in talent
trustful collaborations are required for However, innovation can working at a company that at Roquette, and we are guided by retention. Roquette has a track record
transformation to succeed. Even during also be sustaining -- helping provided opportunities to values of authenticity, excellence, of registering about 40 patents a year.
the pandemic, the nation underwent a develop and improve existing learn and further their skills. forward-looking and wellbeing. In Innovating for customers is in our
digital transformation, without noise from solutions. For example, after By equipping people with the order to be agile, innovation and genes. It is important we constantly
the underpinning economic infrastructure. a disruptive technology like technology and the knowledge collaboration have to go together. explore and innovate to meet the
People had electricity to work from home Robotic Process Automation to use it, we democratise the Diversity as a source of innovation can expectations of our customers and
and our business partners remotely (RPA) was introduced, automation journey. With low- boost performance. the end-consumers. For us to have a
tested our 500-ton transformers and developers sustained this code and no-code platforms, An open office layout, sharing of strong capacity to innovate, we need
commissioned mega power projects that space by innovating multifold we will empower people to information through townhalls, and to understand our customers’ needs
can power 80 million households. That is to answer user problems, build automation solutions flexible working options have brought and anticipate their expectations while
the power of innovation. including pairing Artificial themselves. about a culture of openness. People feel strengthening sustainability in our
empowered when we trust them. Our innovation process.

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