Empowering progress: Industry titans share insights
Catalysts of Rising India, presented by ET Ascent, brought together industry visionaries to share their understanding of leadership and its significant impact on the economic expansion of the country.
India has surpassed China to become the world’s most populous country, with its workingage population projected to reach 988.5 million by 2036. With an ambitious target to transition into a developed economy by 2047, our country is harnessing the potential of its vast demographic dividend.
Entrepreneurs are at the forefront of this economic evolution, fuelling innovation, job creation, and overall growth. Recognising their pivotal role, ET Ascent convened a panel of industry leaders on 20th April 2024, alongside the launch of the ‘Catalysts of Rising India’ coffee table book, celebrating the contributions of visionary leaders to India’s ascent. During the panel discussion, the leaders shared profound insights into entrepreneurship and leadership, illuminating key areas critical to India’s economic journey.
Build visionary leaders
Along with highlighting the qualities and attributes that defi ne effective leadership in driving organisational and national growth, the panellists shared philosophies and lessons learnt from their experiences.
“A successful leader must have a vision beyond personal ambitions; it should focus on the country’s welfare,” said the event’s chief guest, Dr Rajorshi Ganguli, president and global HR head, Alkem Laboratories Ltd. He also highlighted the importance of humility, focus, and learning from failure in effective leadership.
Catalysts of any organisation are those who are true to themselves while contributing to the growth within their organisations. Dr Vikram Munshi, founder and principal consultant at WhiteSpace Consulting and Capability Building, said, “To be a catalyst, authenticity is key. Leaders must embody what they advocate, as they set the example for others to follow.”
While discussing the roadmap for leaders to pinpoint gaps in leadership and align their strategies with their aspirations of becoming effective leaders, Dr Ajay Bakshi, managing director at Metamorphosis Unlimited, shared, “Leaders must possess a well-defi ned strategy and purpose, prioritise building high-performing teams over doing everything by themselves, and focus on retaining, motivating, and rewarding the right individuals to build leadership development within their organisations.”
Addressing the preparation of the next generation of leaders, Dr. Aneel Murarka, philanthropist and founder of Ample Missiion, focused on the importance of discipline and humility in aspiring leaders. “These values are essential for progress and must be instilled in the younger generation to foster the development of good leaders.”
Employee empowerment The leaders also highlighted the importance of investing in employee development to meet the demands of a rapidly evolving economy. “It comes down to the basics,” said T. R. Varadhan, founder and chairperson of Mascot Systems Private Limited (MSPL), “Employees should have a fresh mindset daily.
Making them work long hours after their shift is counter productive. Instead, they should go home after completing their working hours, spend time with their families, and return to work the next day refreshed.”
Alongside maintaining a work-life balance, individuals must keep up with the demands of the job market. “In recent times, there has been an increase in employers seeking individuals with versatile expertise. People need to upgrade themselves and gain knowledge of multiple skills for better job prospects and growth within an organisation,” said Mahesh Repal, general manager at Aarvi Encon Limited.
Adding to this, Nitin Shahi, executive director at Findoc Investmart Pvt. Ltd., said, “As leaders, we expect employees to be multiskilled, but we must also ensure the provision of learning and development programmes and opportunities to facilitate their upskilling.”
Matters of interest
In addition to various vital subjects, the panellists also discussed critical issues such as environmental consciousness, women’s employment, and employee mental health. Speaking on the escalating significance of environmental sustainability in business operations, Varadhan remarked, “We acknowledge global warming, yet many are still focused solely on individual interests rather than considering the broader impact. As leaders, it is imperative that we set an example and actively work towards addressing this issue, making contributions through our respective firms.”
While discussing the role of gender diversity and inclusion in driving economic growth, the panellists shared their efforts to promote gender equality within their organisations. Dr Monica Sood, CEO, Navjivan Group, said, “There should be more focus on women empowerment. Women make up 48.5 percent of the population, and if we can harness that potential by employing more women within our fi rms, we could take our economy forward.”
She also highlighted the aspect of mental health and its importance among the young generation so that they become strong leaders in the future, steering the country towards its economic goals.
The event concluded on an inspiring note, owing to the profound insights shared by the industry leaders for entrepreneurs and individuals across all fields. Their encouraging thoughts ignited the spark not just to lead but to become the catalysts for taking India to new heights in the coming years.
A few pioneers lend their insights on entrepreneurship, work-life balance, and upskilling employees
