IIMB Hosts Business Conclave 2023

India is gradually transitioning from a technological follower to a frontrunner. Compliance with ESG and sustainability rules is now required of all organisations. Furthermore, just as people are looking for work, the contrary is also true, as meeting the talent gap that organisations have is a big difficulty.

Rishikesha T Krishnan, Director, IIM Bangalore, emphasised the critical role future leaders will play in addressing the country's growth, competitiveness, technology, sustainability and human capital challenges.

Nalin Bansal, a prominent figure in the digital payment sector, announced plans to focus on capacity building and UPI growth over the next two to three years. He stressed the importance of digital transformation and scaling up operations, highlighting the need for low-cost services, political support and government backing to penetrate international markets. Rahul Chari emphasised UPI 2.0's strategic long-term approach, aimed at fostering innovation and speed while avoiding commoditisation and ensuring reliability.

Narayan PS discussed the rapid growth of ESG (Environmental, Social and Governance) adoption over the last five years, driven by government measures and increased engagement from investors, customers, and employees. He encouraged individuals interested in ESG careers, noting the complexity of the field. Kanishk Negi stressed the importance of organizations evolving and adopting new energy-harvesting methods, emphasizing resource conservation and human rights protection. Collaboration with stakeholders, like Schneider, can reduce carbon emissions and energy usage.

Priya B highlighted the increasing regulatory demands for sustainability, requiring corporates to disclose their ESG compliance, validated by external parties and supported by data. This entails integrating sustainable designs into products & services and aligning them with business requirements.

Reema Jain highlighted the need for established companies to balance their legacy with a risk-taking appetite, encouraging fast experimentation and a willingness to accept failures. Empowered teams, functional silo removal, and accelerated decision-making are essential to adapt to the changing landscape. She stressed the importance of challenging the status quo and establishing the right business model to address disruption effectively.

The event included panel discussions, a fireside chat, case competitions and a quiz featuring industry leaders, entrepreneurs and policymakers.