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‘Innovation is the key to growth of any economy and it is an essential ingredient of life.’ Innovation literally means ‘making a change to bring in something new’ and in the business parlance – it is the ‘successful introduction and commercialization of a new idea’.
‘Navpravartan’ – an event with the aim to accentuate the importance of innovation in the Indian industry, was conducted at IIM Indore on December 15, 2018. ‘Navpravartan’ -meaning ‘in a new manner’, provided a vibrant platform for the Industry experts to share their inimitable opinions on the current trends of innovation in Indian industry and its impact on the future economy.
Prominent industrialists, academicians, scholars, students and faculty members from various educational institutes of Indore, participated in the event coordinated by Industry Interface Office (IIO) of IIM Indore, CCBMDO Batch 15 and Confederation of Indian Industries (CII).
The event commenced with an inaugural lamp lighting ceremony by Professor Abhishek Mishra, Faculty and Chair, IIO, Professor Shweta Kushal, Faculty, IIM Indore, the members of the guest delegation and defence officers of the CCBMDO batch -15.
The Industry experts who shared their valuable views and specialist experience at the event included Mr. Sandeep Naolekar, Chairman, CII MP Panel on IPR; Ms. Geetika Kambli, Managing partner, Future Factory & Member CII WR Task force on Innovation Ecosystem; Mr. Mukesh Mohan Gupta, President, Chamber of Indian MSME; Mr. Sameer Kumar, Engineering leader, Cummins Turbo; Mr. Sundar Chand Thakur, Resident Editor, Navbharat Times, Mumbai; Mr. Arnab Chatterjee, Former VP and Centre Head, 24*7; Mr. Atul Holkar, Head, Supply Chain, Varun Beverages Ltd (Pepsico) and Mr. Yatish Mathur, VP Operations, Force Motors Ltd.
Professor Shweta Kushal welcomed the guest speakers and introduced the objective of the event in her opening address. The first speaker, Mr Sandeep Naolekar, Former Chairman – CII Madhya Pradesh & Managing Director, Darling Pumps, delivered an address on ‘Initiatives in Innovation by CII in the Industry & Best practices’. He said-“In order to become a great innovator, it is important to build an idea, nurture it and develop it.’ CII is working closely with Indian Industry to promote innovative technologies to establish the right linkages for successful technology and commercialization. He brought out the focus and critical role of CII in industry growth which will be realized through efficient policy making and ensuring the right environment for entrepreneurial initiatives on the floor bed of innovation.
Ms. Geetika Kambli, Managing Partner, Future Factory & Member – CII WR Task Force on Innovation Ecosystem, spoke about ‘Leveraging Strategy and Technology for 
effective Innovation’. She said- “Innovation is about solving a problem with a kickass idea. Innovations could be routine, radical or disruptive. It’s important to leverage strategy and technology for effective Innovation. An innovator’s DNA is to be built for error, to live in the grey and be the jack of all. I think innovators are driven to win and they are heroes.”
Mr. Mukesh Mohan Gupta, President, Chamber of Indian Micro, Small & Medium Enterprises (MSMEs) encouraged the young business minds to tread the entrepreneurial path and make a mark in India’s growth story. He shared his knowledge about the scope for growth and role of innovation in MSMEs operations and how it can bring a revolution in the Indian industry. He also enlightened the audience on the various funding schemes offered by the govt in support of startups and MSMEs.
Mr. Sameer Kumar, CTT India, Engineering leader, Cummins Turbo, highlighted the role of innovation and the innovation methods that are used in the manufacturing industry. He said that adapting new skills and learning of new technologies would drive growth.
The second half of the day was headed by Capt Sunder Chand Thakur (Retd), Resident Editor, Navbharat Times, who enlightened the audience on innovation in print media, explained how innovative thinking and its effective implementation in the media industry is bringing tangible results and growth.
Mr. Arnab Chatterjee, Former VP and Centre Head, 24*7 explained how innovation in Digital Businesses & BPOs operational processes is bringing about a great new approach to customer engagement strategy through use of technology.
Mr. Atul Holkar, Head of Supply Management, Varun Beverages (PepsiCo) delivered a thought provoking and inspiring talk on the growth of e-commerce in the world and in India and how innovation is an integral part of Supply chain management in ecommerce and retail sectors of the industry.
Mr. Yatish Mathur, VP Operations, Force Motors Ltd, shared his perspective of ‘Innovation in the Automobile Industry’ and how various innovative practices facilitated in taking new steps towards accomplishment of the company’s goals.
The occasion also included the release of the placement brochure of the CCBMDO -15 batch as fifty officers of the Indian Armed Forces bid to take up leadership roles in the middle and senior management level in the industry.
The event was one of its kind which brought together more than eight industry specialists, noted academicians, over 400 participants and invigorated their minds with the urge to bring innovation in every part of their lives and in every role they would play in the future of Indian industry, contributing positively to the future growth. The event concluded with a vote of thanks by Colonel Sidhu, a CCBMDO participant at IIM Indore.