India Inc's NEXT Wave

The old order of Indian business is set to undergo a tectonic shift, thanks to a host of new companies and their disruptive businesses

- KRISHNA GOPALAN

INDIA INC. is often used as a collective noun to describe the formal business sector comprising government-owned and corporate entities. It gained currency around the turn of the century as Indian firms gained scale and made their presence felt at home and abroad. As businesses start to get more complex, companies—both small and large—must revamp their game plan to remain relevant in a world characterised by disruption, say experts. And disruption is not a game determined solely by deep pockets, but ideas and innovation. Clearly, a new India Inc. is emerging at a pace that is quite unprecedented.

NO STATUS QUO

The mindset that large companies would be around forever has changed, and by the looks of it, will continue to evolve. Ashank Desai, founder, Vice Chairman and Managing Director of software services company Mastek, says large firms will always benefit because of scale “but that can be easily disrupted by technology.”

One has to go back in time by no more than two decades to understand the veracity of the statement and sectors that have transformed most remarkably-retail, telecommunications, information technology (IT), manufacturing, and fintech are a few examples.

However, there is still some debate around the form and shape the new conglomerates will take. “A lot will be determined by nimbleness and adaptability. We are in a dynamic world marked by changing consumer preferences. The speed of decision-making could make all the difference,” says Desai. It is intriguing to imagine the new pecking order. “The ability to access capital may not be such a strategic issue. It is possible that single-business conglomerates become a dominant theme,” says Desai.

Changing Landscape