Mumbai, October 5, 2016: Business leaders from across sectors come together at The Confederation of Indian Industry (CII) Summit on Innovation Ecosystem 2016 at ITC, Parel, Mumbai to discuss the challenges faced and recommendations for creating successful innovation ecosystems.
The objective of the summit was to gather insights from industry leaders on the changing paradigms of innovation, creation of new ideas for positive changes in efficiency, productivity, quality, competitiveness, and market share, among other factors.
The summit was inaugurated by Gaurav Nanavaty, former chairman of CII (Western region) and Managing Director of Anup Industries Ltd, wherein he shared his thoughts on sustainable innovation that is helping businesses become nimble and future ready.
In his special address, Kumar Iyer, British Deputy High Commissioner in Mumbai & Director General of UK Trade and Investment spoke about the strengthening of the Indo-UK ties and how effective collaboration can help build both the economies. He addressed innovation from three perspectives; education, business and government.
In his keynote address to the gathering, Patrick Thomas, CEO, Covestro elaborated on how innovation and sustainability forms an integral part of Covestro’s core business strategy. “Businesses will be faced with macro-environment challenges like climate change, scarcity of natural resources and growing need for advanced medical solutions. In line with our vision, ‘To make the world a brighter place’, Covestro have been driving solutions with our innovative products and solutions that help address these challenges.”
The first panel discussion of the summit was on ‘Fostering Innovation for the global community’ which was moderated by Anshoo Gaur, Chairman CII WR Taskforce on Innovation & Ecosystem. The agenda of the discussion was about how innovation is important for growth and how policy makers and other stakeholders should act in this context. The panelists included Ramnarayan Mohanty, President Technology, Pidilite Industries Limited, Rajarshi Sengupta, Chief Innovation Officer & Partner, Deloitte Touche Tohmatsu India LLP, Shankar Krishnan,Group Head – Strategy, Shapoorji Pallonji Group , Dr. Makarand Phadke , Sr. Vice President, Innovations ,Reliance Innovation Leadership Centre, India and Manish Gupta , Vice President at Xerox Corporation & Director Xerox Research Centre India.
The second panel discussion revolved around the topic, ‘Recommendations for creating successful innovation ecosystems and the challenges faced’. It was moderated by Pallavi Jha, Co-Chairperson, CII Indian Women Network Sub-Committee& Chairperson & Managing Director, Walchand PeopleFirst Ltd. This panel discussion delved into the realities and constraints that innovation ecosystems face and also provided some recommendations for creating successful systems. The panelists included: Commodore Mukesh Bhargava (Retd) Vice President, Head, Special Projects & Engineering Systems, L & T Heavy Engineering, Dr. R R Sonde, Executive Vice President, Research, Technology & Innovation, Thermax Ltd, Mr Sunderraman Gopalan, Vice President - Corporate Development-Innovation and Design Center, Godrej & Boyce Mfg. Co. Ltd, Ravi Arora Vice President – Innovation, Tata Sons Limited and Jashish Kambli, Executive Partner, Future Factory.
About Covestro AG
With 2015 sales of EUR 12.1 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employed approximately 15,800 people (calculated as full-time equivalents) at the end of 2015.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.