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CNBC-TV18 hosts third edition of Leadership Collective

The virtual event was themed around Digitisation: Key Driver of India’s Economic Growth Engine, and was hosted in partnership with Standard Chartered Bank

In the past year and a half, digitisation has played an instrumental role in helping countless industries and sectors get back on the road to recovery as well as scale new heights.

Taking this thought forward, English business news channel CNBC-TV18, in partnership with Standard Chartered Bank, hosted the third edition of the Leadership Collective on August 27. 

Themed around Digitisation: Key Driver of India’s Economic Growth Engine, the virtual event, moderated by CNBC-TV18’s Managing Editor Shereen Bhan, brought together industry leaders such as  Arundhati Bhattacharya, Chairperson and CEO Salesforce India; CK Venkataraman, MD, Titan Company; Sanjeev Sharma, Managing Director, ABB India; Zarin Daruwala, Cluster CEO, India and South Asia Markets, Standard Chartered Bank; Piyush Singh, Sr. MD & India Lead, Accenture; Pankaj Makkar, MD, Bertelsmann India Investments. The panel also included an interactive brainstorm with Krishnamuthy Subramanian, Chief Economic Advisor, around what the Govt needs to do to facilitate the rollout of digital infrastructure and provide an enabling environment.

Bhan said, “As India navigates its way through the challenging times that Covid-19 has brought with it, we have relied on the use of emerging technology to keep the growth engines moving.  The pandemic has accelerated the adoption of digitisation, forcing companies to reimagine engagement with customers and employees. While it has been disruptive, the changes have opened up opportunities not just for the large incumbents but also for many new age businesses and start-ups.”

Subramanian said, “The pandemic played an instrumental role in accelerating the pace of digitisation and that the sectors of education and healthcare are some of the key areas where digital economy will play a key role going forward.”

“We need to ask what benefit do cryptocurrencies add to the real economy. While they could prove to be a way to bring in investment, we have to study its benefits,” he added.

Daruwala of Standard Chartered Bank said, “We shall witness a synergy of FinTech and Banks in the coming days and the country must welcome the arrival of ‘Pure Digital Banks’ with open arms.”

Bhattacharya of Salesforce India said, “I don’t see any CEO in the country who hasn’t put digital transformation at a pedestal. The journey has just begun and it is the need of the hour to bridge the existing digital divide.” She said Salesforce has doubled its India headcount in the pandemic year.

Sharma of ABB India,  “Automation is a major reason why emerging players are able to upscale so seamlessly and also shed light on ABB India witnessing the rapid adoption of remote services amongst consumers during the pandemic.”

Makkar of Bertelsmann India Investments said, "Embracing digital formation and adopting it whole-heartedly is the only way how India can not only recover, but prosper amid the new normal. What we see today are many enigmatic entrepreneurs who ideate innovative and world-class solutions that have proved vital in solving the many problems that India faces."

Venkataraman of Titan Company said, "I am positive that retail (brick and mortar) businesses will thrive the moment all of us are vaccinated and restrictions are normalised. With the joy of going to a store remaining intact, we should be braced for footfalls being on pre-pandemic levels, if not more."

Singh of Accenture said, "I do firmly believe that the effects of the pandemic have led to irreversible changes in customer patterns pivoting towards the digital realm. That said, we have only taken the first steps and are very much at the start of unlocking the potential that digital brings with it."

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