Frost & Sullivan recently conducted the 10th Growth Innovation & Leadership (GIL) India 2018 Summit in Mumbai. The focus of the summit was on the non-linear business model and how companies could harness exponential growth across various industries. Experts from various domains congregated to envision the emergence of innovation from multiple converging scenarios. The summit has attracted participation from more than 1,200 companies, 1,500 C-suite attendees, more than 20 innovative workshops and several illustrious panellists.
At this year’s summit, Kiran Mazumdar-Shaw, Chairperson & Managing Director, Biocon Ltd was awarded the 2018 GIL Visionary Leadership Award for the remarkable efforts she has put behind her philanthropic work, business achievements and social contributions.
SESSION ON TECHNOLOGY OPPORTUNITY ENGINES
The session on Technology Opportunity Engines focussed on showcasing the ability of agile organisations to succeed in times of disruption, ambiguity and uncertainty. Further, speakers also deliberated on critical market trends that are repositioning industries for the digital age and new business models. At the GIL 2018 Summit, visionary insights were shared on technology opportunity engines that will drive exponential growth for companies with a keen focus on technology interplay, customer experience and identification of growth opportunities for industries in converging fields. The theme in mind was leading and winning through unprecedented change. The summit also saw speakers talk about synergies between multiple industries and how digital transformation is shaping the industry. The session covered aspects related to mobility, healthcare and the start-up ecosystem. Further, the discussions centred on key market trends, new business models and best practices for success, while keeping in mind how corporates need to reposition themselves in the digital age.
The session also featured interactive panel discussions with senior industry thought leaders and specialists who highlighted the convergence of industries like healthcare, ‘uber’isation, government initiatives on localisation of data, technology interplay, data growth and success stories from the start-up fraternity.
SESSION ON EMERGENCE OF NEW MOBILITY BUSINESS MODELS
The session on Emergence of New Mobility Business Models was led by Kaushik Madhavan, Vice President, Mobility (Automotive & Transportation) Practice, Frost & Sullivan. Focussing on the shift from conventionally powered cars to electric vehicles, the session emphasised the need for mobility solutions providers to adopt a collaborative approach rather than a disruptive one for future growth.
On electrification, the panellists were of the view that OEMs have lined up electrification plans but from a consumer perspective, there is an anxiety with regards to price, range and more. Business models such as battery swapping and how it can play a larger role in addressing relevant consumer concerns were also deliberated at the summit. The government policy and a roadmap for e-mobility were deliberated; the key takeaway being the need to carry out work at the national and state level from the ground up and not just on paper. The session talked about benefits of FAME 2 to be passed on to the industry rather than customers for wider acceptability and dispersion.
The summit highlighted the accelerated exponential growth that is expected to emerge in the future and the need for firms to prepare a roadmap that will tackle challenges and opportunities that arise in the coming years owing to exponential growth.
The summit concluded with Frost & Sullivan’s 2018 India Best Practices Awards Banquet, wherein companies were recognised for accomplishments in the fields of innovation and convergent thinking that will usher in change and transform industries in the near future. The summit was supported by Associate Partners Mitsubishi Electric India’s Factory Automation & Industrial Division and Universal Robots.