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Press Release

India needs move beyond 'jugaad', create a culture of innovation: Sanjiv Mehta, President, FICCI and CEO & Managing Director, Hindustan Unilever Limited

Sep 21, 2022

NEW DELHI, 21 September 2022:  The world has quite successfully survived, then revived and now thrived by finding opportunities in the recent disruptions. Digitization and Tech led Innovations are taking centre stage to meet the needs of present generation, while visualising the aspirations of future ones. An innovation eco-system needs to cut across all functions of an organisation be it manufacturing or marketing or even Finance. Social impact innovation is another area where countries like India are leading the way.

Mr Sanjiv Mehta, CEO & Managing Director, Hindustan Unilever Limited (HUL), President, FICCI underscored that pandemic has been a great teacher and it has brought innovation to the centre stage. He also added that to become an economic superpower, India has to compete not only on cost, quality and service but also on innovation.

Mr Assessandro Lambrucchi, Managing Director, Kinectic Green-Tonino Lamborghini Pvt. Ltd highlighted that innovative input gives excellent output and for India to be an innovation hub the starting point can be by increasing in R&D budget and we can do it be increasing it 10 % a year.

Mr Rajesh Rege, President, Honeywell India highlighted that innovation is about the need to co-create and co-innovate and to be successful innovation needs to be open to partnership.

Ms Susanne Pulverer, CEO & Chief Sustainability Officer, IKEA India pointed out that to drive innovation forward, the innovation should be accessible, affordable and sustainable

 The key takeaways from the session:

  • India needs to pick from global learning hubs and adopt culture of experimentation, learn from failure. India is the place to do that.
  • Skill development is the most noble and sustainable form of innovation.
  • Affordable, sustainable and accessibility are the three key facets that innovation needs to address.

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