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India Inc’s march towards sustainable growth

India Inc’s march towards sustainable growth

India Inc’s march towards sustainable growth
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By CNBC-TV18 Oct 20, 2022 4:43:59 PM IST (Published)

Accenture invited eminent industry stalwarts to discuss modernization, sustainability, and technology disruption and how employees are at the core of it all.

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As companies rapidly transform themselves digitally, C-suite executives now face the challenge of getting the physical and virtual worlds to co-exist. What are some of the key growth drivers that organisations need to be aware of? How can they achieve sustainable growth while attracting motivated employees who share the organisations’ vision that translates into a seamless customer experience?
Industry leaders across different industries joined in for a riveting discussion to answer some of these questions: Randhir Singh Kalsi, Member Executive Board, Marketing and Sales, Maruti Suzuki India; Vijayendra Singh, Chief Operating Officer, Apollo 24x7; Satish Sharma, President - APMEA, Apollo tyres; Ranjit Gupta, CEO of Ocior Energy; Piyush N. Singh, Senior Managing Director and Lead - India Business, Accenture; Sanjay Dawar, Managing Director, Global Strategy and Consulting, Accenture in India
Renewable is the “energy” of the future
The discussion kicked off with the increasing relevance of renewable energy. Historically, “renewable energy always needed to be pushed to the distribution companies. It was a lot more expensive than buying thermal power, whether it was coal or gas”, said Mr Gupta. Over the last five to seven years, however, the situation has changed. “Renewable energy is a lot cheaper than getting power from coal and gas”, he added.
Mr Piyush Singh looked at the situation from the standpoint of the consumer who demands that today’s solutions be sustainable. He stressed that sustainability cannot be an afterthought but as an essential part of the business model itself. “Technologies such as artificial intelligence can help in deploying outcomes for a much more sustainable society.”
Changing customer landscape
Indeed, customers have pushed companies to shift their mindset from merely chasing profitability. A sustainable approach towards the top and bottom line are equally important. For instance, aid Mr Piyush Singh. “Organisations have to be modern enough to be able to respond to those changes very rapidly as well as to be able to study those changes”, he added.
This is true of all major industries. Take healthcare, for instance. “In healthcare, one of the things that we are doing is what we call continuum of care, which is basically to try and make you healthier or look after your health even when you are at home,” said Mr Vijayendra Singh.
Talent is key
All of these applications and use cases would only be possible through evolving skill sets from an employee-base that shares the same sense of purpose. “Attracting talent is going to be one of the biggest challenges for not just professional services companies, but I think for the industry at large”, said Mr Dawar. Recruits need to be constantly up-skilled. “Therefore, what we do is we run consulting boot camps in order to make the talent coming in from campus ready to be able to consult for our clients”, said Mr Dawar.
Moreover, if any organisation lacks a “clearly defined purpose as to why it were in business, it is unlikely to retain talent”, said Mr Piyush Singh. “So, I think talent itself is the most disrupted part of our business”.
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