Businesses are changing their business model to suit self-reliant India, know what are the changes needed
new Delhi. In the midst of an epidemic-stricken economy, many companies are adapting their business models to the situation, moving towards realizing the dream of a self-reliant India. Companies in manufacturing, healthcare, technology and other sectors are working towards adopting and introducing their business models in a new way. Let us also tell you how companies have changed their business model to realize this new situation and self-reliant India.
Employees developed without foreign aid
Sharad Malhotra, president (automotive refinishes and wood coatings) of Nippon Paint India, is taking the initiative of Make in India to successfully expand the brand’s presence beyond its existing 23 markets in India. According to Malhotra, self-reliance is an important part of our strategy after Kovid. We want our talented staff to develop new ideas, new business concepts and new technology without any foreign influence using the entire ecosystem, which we can operate with our business contacts and social initiatives. The Modi government is encouraging companies to increase innovation and R&D centers so that they can reach consumers across the globe.
Efforts are on to increase indigenous capabilities
Sujit Bakshi, head of APAC Business & President, Corporate Affairs, Tech Mahindra, says that the company is focused on investing in research and development of innovative and future-ready solutions to enhance indigenous capabilities and hence in collaboration with the government Strongly contributing to the creation of self-reliant India. Manufacturing brands are seeing a huge opportunity for their business in India and for their global customers in the emerging scenario.
Research has increased in the last two years
Harsha Kadam, CEO Skeffler India and President Industrial Business, agree that the ‘self-reliant’ campaign has certainly opened up opportunities for companies like Skeffler India, especially in areas such as wind power, railways, two-wheelers. He said that our aggressive R&D and localization drive within India over the last two years, especially when it comes to manufacturing raw materials and components, helped us to increase market share in many areas. With a vision of becoming less dependent on other countries and producing locally, the Self-Reliant India Campaign has the potential to become a model that other countries can follow.