What is your outlook on the current business scenario and what are the changes anticipated in this year? How optimistic are you in terms of the economy bouncing back on track?
While we all know that the market is down, we can still be hopeful about the revival. Spendings have been better in the month of December last year. Given the fact that we do have a vibrant domestic demand which gets swayed by negative sentiment at times cannot be wished away. So, my short answer is that 2020 may surprise us with being a little bit better than anticipated. The push for infrastructure spending will help and we have to be wise on the fiscal deficit for the country.
What is your agenda / plan-of-action for the year 2020, in order to be competitive and stay relevant to customers and catch up with the growth momentum?
We all know that change is the constant factor in business and we should never waste a downturn. What I mean to say is that a downturn must be handled in such a way that we emerge fitter and leaner. India is destined to be the global workshop and we must inch towards that dream. Manufacturing has to make up a bigger portion of GDP in India. Our company relentlessly works on technology, better material sciences and remains as close to its customers as possible, so that we can provide them the solutions for tomorrow. We have to remain ahead – be it systems, governance, factories of tomorrow or people. We try harder and smarter to be able to keep winning in the market place for the sake of our customers and stakeholders.
How should a company effectively bridge the gap between optimising existing technologies & investing in advancements? Would you like to share examples from your organisation?
In our line of business, technology for the products and tech for manufacturing are both very important. So, we have been reinventing the products for the past 100 years. Innovation is way of life for us so that our end-customers get the benefit of advance engineering. But the game changer is how we are using digital for making our processes more reliable and efficient. This is not about robotics alone but how data will change the way we manufacture. So, we are working on digitisation in such a way that it will make sure that we continue to provide outstanding products and services to our global customers.
How can India build sustainable breakthrough ecosystems for nurturing global businesses and achieving manufacturing-driven growth? At the same time, how can the industry respond to uncertain economic cycles and technological disruptions, simultaneously?
I am happy to share that Indian manufacturing is already competing with global manufacturing and winning; ISRO is a shining example of that. However, India has to make sure that we do not lose out in the game because of lagging behind in R&D. We must generate and harness value which will come out of our strength from design and research. With such depth in computer sciences, it is a leap, which I am sure and I pray India takes.