NextGen CEOs to focus on innovation and inclusion to build Viksit Bharat

India’s next generation of business leaders are embracing innovation, inclusion, and sustainability for the realisation of a Viksit Bharat.

 

During a panel discussion on young leadership at the 11th SBI Banking and Economics Conference, young CEOs explored strategies to future-proof Indian enterprises. The session delved into key themes, including financial inclusion, energy transition, and generational shifts in leadership.

 

Opening the discussion, C.S. Setty, chairman, State Bank of India (SBI), emphasised inclusion and innovation as critical to India’s aspirations of becoming a developed economy by 2047. “You can't leave a large population behind when you are progressing in the country. How do you take them along?” he said, stressing the need for broader financial inclusion to complement the rapid pace of technological advancements.

 

 

Sagar Adani, executive director of Adani Green Energy, presented an ambitious vision for the group's energy transition. “We are investing about $35 billion over the next five years to set up large-scale solar, wind, and hybrid plants,” he said. While confident about India’s renewable energy targets, Adani cautioned that meeting future electricity demands with the rise of artificial intelligence and data centres will require an additional 1,000 to 3,000 gigawatts of generation capacity.

 

Jinal Mehta, vice chairman of Ahmedabad-based Torrent Power, outlined his company’s renewable energy goals, including a capital expenditure (capex) plan of Rs 1.1 lakh crore by 2032. “Our immediate plans are to get to 10 gigawatts of renewable energy and 5 gigawatts of energy storage solutions by 2030,” Mehta said.

 

Talking about the role of women in leadership, Ananya Birla, founder and chairperson of Svatantra Microfin, drew attention to the role of women in reshaping legacy business practices and societal structures. She called for equal representation in corporate leadership.

 

Birla highlighted the importance of grassroots economic empowerment, noting her company's progress since its inception in 2012. “Our initial ticket size was Rs 10,000, which now stands at Rs 58,000. Digital penetration is way higher, and everything is cashless. There’s already a huge leap,” she said. Svatantra Microfin is planning to launch its initial public offering (IPO) within the next two years, she added.

 

Anant Goenka, vice chairman of RPG Group, and Nyrika Holkar, executive director at Godrej & Boyce, reflected on how businesses are adapting to the needs of younger employees and customers.

 

“There’s a clear shift in preference from shareholder supremacy to stakeholder supremacy,” said Goenka, underscoring the importance of sustainability, customer satisfaction, and workplace happiness.

 

Holkar emphasised the need for recalibrating corporate policies to retain talent and foster innovation. She highlighted the importance of aligning with Gen Z's values and expectations in the workplace, stating, “I think there are a lot of great things about it, if it can be harnessed in the right way—in terms of passion, care for the environment, and ensuring that what they’re doing is something that inspires them.” Holkar also noted the need for companies to adapt, saying, “I think we will all have to change quite a lot. I don’t think we’ve changed as much, but I think it’s also calibration, and it’s important for us.”

 

India’s path to global prominence was another recurring theme. Goenka stressed the lack of Indian consumer-facing global brands and noted the need for increased research and development (R&D) investment and a focus on solving global problems. “We need to invest more in go-to-market strategies and brand building,” he said.