What has been your philosophy in the expansion exercise since the 1970s?
It has always been our endeavour to create larger value for society and increase our economic contribution. Therefore, the whole idea has been that we should participate in newer segments. So, the philosophy is to identify market opportunities, areas where there is good headroom to grow and where our institutional capabilities can be leveraged. Secondly, we have always forayed into segments with the commitment that we will invest to become leaders. When I say leadership, it is not just the size or merely the financial metrics, but, very clearly, quality which is at the core of our DNA.
The other facet that we have always embraced, much before the “ESG” [environmental, social and governance] concept became a currency, is the “stakeholder”. We have never believed in the narrow definition of “shareholder”. It has always been “stakeholder” for many decades. Having synergistic and collaborative partnerships with all stakeholders has helped us to grow and create unique sources of advantage as well as enable sustained value creation. We have also nurtured an organisational culture that is built on the foundation of perseverance, entrepreneurial mindset and a strong will to challenge the status quo. The focus has been on making the right strategic choices. We have leveraged good things of the past to build the present.
It has been a journey of continuous challenges as we moved along, with changes in regulations, circumstances and even opportunities ... We have also not hesitated to make an exit where things have not worked out. A recent example is our lifestyle retailing business. It was not a strategic fit, so we exited.
This story is from the August 2023 edition of Outlook Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2023 edition of Outlook Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Faultline Called Unemployment
With youths accounting for a staggering majority of the unemployed population in India, the ruling Bharatiya Janata Party, which claims to have put India on a sound growth track, has some tough questions to answer as it seeks a third term at the Centre
'TECH, GOVERNMENT SUPPORT DRIVING GROWTH IN INDIA'S EXPORTS'
As overall exports in India witnessed a rise over the previous year, Akshay Ghulati, co-founder of Strategy and Global Expansion at Shiprocket Global, talks about five drivers of booming trade in India
IN THE RIGHT ENSEMBLE
Manish Kapoor MD and CEO of global clothing brand Pepe Jeans London, finds happiness in spending time with his family and bonding with them over leisure trips, Formula One races, cricket matches and cooking
GREEN GLOBETROTTING
Amid growing awareness about sustainable tourism, more people are hoping to reduce their carbon footprint. Besides benefitting the planet, sustainable tourism also presents the industry with the opportunity to grow responsibly
LOOPM ALTERNATIVES: ADDING A NEW AND LASTING DIMENSION TO PRESERVING FOOD
LoopFresh, an Indian innovation promises to transform the way perishables are stored on our supermarket shelves to retain their freshness.
PLANET VS PLASTIC OR PLASTIC VS SUBSTITUTES?
The theme of Earth Day 2024 was Planet vs Plastic, but plastic industry stakeholders are armed with studies to find faults with its alternatives
WELSPUN LIVING LIMITED: MAKING STRIDES TOWARDS GREENER FUTURE
Striving to advance systematically on the path of sustainable development, Welspun, a global leader in home solutions, is making a mark with its holistic Environmental, Social, and Governance (ESG) approach towards well-being of all the stakeholders
PROMOTING BIOFUELS FOR SUSTAINABLE ENERGY SUPPLY
Biofuels offer a viable solution to reducing dependence on imported fossil fuel while providing cleaner energy, states Kishan Karunakaran, CEO of Buyofuel. In an interview he speaks about how agro-waste and even plastics and tyres can be utilised for producing biofuels, thus supporting a circular economy.
A Ready Reckoner for Climate Justice
In Climate Change: The Policy, Law, and Practice, Jatinder Cheema presents a comprehensive exploration of the multifaceted challenges posed by climate change and the corresponding policy, legal and practical responses needed to address this global crisis effectively
TETRA PAK'S AMBITION TO LEAD THE SUSTAINABILITY TRANSFORMATION
Tetra Pak has set 2030 net zero emission goals for itself and 2050 net Zero emission goals for its supply chain. Juhi Gupta, Director Sustainability Tetra Pak, South Asia, in an interview shares how this is being achieved. Excerpts:
