Navigating Towards a $5 Trillion Economy: The Role of Technology and Sustainability in India’s Growth Journey
Harnessing the power of digital platforms and technological advancements to propel the economy to a staggering $5 trillion, as stated by Sanjiv Mehta, CMD of HUL, marks a pivotal stride forward. Reflecting on the recent Union Budget, Mehta emphasized the pervasive influence of technology and its imperative integration for societal advancement, echoing sentiments expressed by Finance Minister Nirmala Sitharaman.
Mehta underscored the significance of leveraging digital avenues to fortify sectors pivotal for India’s economic ascension, including agriculture, healthcare, and education. He commended the government’s commitment to this trajectory, especially amidst accelerated tech adoption post-pandemic, recognizing the profound shift in our reliance on technology for survival.
Speaking at the AIMA foundation day, Mehta reiterated the transformative potential of technology in realizing India’s ambitious economic goals, emphasizing its pivotal role in augmenting core sectors. He highlighted the swift integration of technology into our daily lives, acknowledging its central role in HUL’s strategic vision, ‘Reimagine HUL’, which aims to redefine consumer engagement and operational paradigms through data-driven insights and innovative business models.
Transitioning towards an ‘Intelligent Enterprise’, HUL seeks to transcend traditional linear frameworks, fostering dynamic ecosystems empowered by data analytics and technology. Mehta envisioned a future where intelligent machines complement human creativity, fostering a paradigm shift towards enhanced efficiency and innovation.
While acknowledging the disruptive impact of pandemics and environmental crises, Mehta emphasized the imperative for proactive intervention, particularly in addressing climate change and harnessing technology for sustainable development. He highlighted India’s ambitious targets for renewable energy and net-zero emissions, underscoring Unilever’s commitment to sustainability as a cornerstone of its business strategy.
Embracing the ethos of climate action, Unilever aims to achieve net-zero emissions across its product lifecycle by 2039, integrating sustainability into its core operations. Mehta emphasized the need for collective action and sustained commitment from all stakeholders to combat climate change, citing collaborative efforts at COP26 as a promising starting point towards a more sustainable future.
Aligned with a global movement towards emissions reduction, Unilever and other leading corporations are setting ambitious targets to mitigate climate change, signaling a collective resolve to address environmental challenges and foster a resilient, low-carbon economy.