07 October 2023 | BW BUSINESSWORLD | 99 By Pratyaksh Dutta In the enchanting world of weddings, where love stories take centre stage, there exists a class of creatives who possess the unparalleled ability to turn dreams into reality. Meet Pramod Lunawat, Founder and CEO, Millennium Event and Marriageuana, the visionary architect behind some of the most breathtaking destination weddings. In this exclusive interview, we get you his insights, and the magic they weave into every destination wedding they orchestrate. Excerpts: What are the big challenges and opportunities in the destination wedding space? In India, the first challenge is the availability of rooms. There is a surge of people wanting to get married in five-star hotels or deluxe hotels, whereas the inventory is not so much. While the hotels are having a field day asking for phenomenally obnoxious rates at times, the clients or planners are having a difficult time finding the right space. The second challenge is the level of commitment of the vendors. Internationally, the challenges are that there are some destinations that are fixed in the minds of the Indian customer because flights are very convenient to the location, like Italy, France, or Spain. But there are unexplored destinations like Croatia, Austria, Czech Republic, or Hungary, where there is scenic beauty, there is economy of cost to a certain extent and resources are largely available too, but direct flights are not available. Then there is the 20 per cent tax collected at source (TCS) that’s applicable from October 1, which the government has implemented on every foreign exchange transaction. Every penny that you spend above Rs 7 lakh is going to be subjected to 20 per cent TCS. That’s a big challenge because, for every Rs 100 you spend, you’re paying Rs 20 extra. What factors do you look at before shortlisting destinations, venues, and suppliers for your events and weddings? Reputation, references of peers in the industry and past experiences of our own company with those vendors. For the new designers or vendors that are coming up, we visit the studios and check their stuff out. As far as the aesthetic designers are concerned, as far as the production design is concerned, in terms of sound, light, and more, we only work with people who have a strong word of mouth in the industry or we have worked with previously. How do you balance the creative and business aspects of your work?
100 | BW BUSINESSWORLD | 07 October 2023 Well, you must convince your client what you’re proposing is of value. The perceived value should be higher than what you are spending on the creative aspect of the event, which is a wedding or a social event. Unless a client is really convinced that he’s spending one and people think he spent ten, it probably does not click. How do you customise tailor-made experiences for your clients? It’s the first meeting, to be honest, when we go to their house or their office, we understand whether this is going to be a good fit with my way of working or my agency’s way of working. For every client, there’s an agency that’s always there. It may not always be me. If I go and meet a client, I understand the way they speak, the way they serve the first cup of tea, the way they treat punctuality, professionalism. Once that is through, we decide whether or not to work with them. My team members and I attend a lot of international conventions across the world. I try to attend about six to seven of them every year. Because that’s where you learn from peers in the industry. That’s the way we have always preferred. How do you create a memorable and immersive experience “You have to be mindful of where you are and use the resources available there to the best of your advantage. We always use one or two events in every wedding, which are completely themed with the food and entertainment of that local culture” THE EXPERIENTIAL ECONOMY
07 October 2023 | BW BUSINESSWORLD | 101 for the guests at your events and weddings? You can be immersive or memorable in three or four aspects. I think the first of them is hospitality. If you are warm and if you have meticulously planned right from the time they arrive, you have done a very good part of it already. The second would be the food experience. Then comes the gifting, the decor and the entertainment. I think those are places where you can spend a lot, but hospitality and food are where you can plan very well, so that’s how we ensure a very immersive and delightful experience for our guests. How important are local culture and traditions in destination weddings? You have to be mindful of which part of the world you are in. You cannot be doing a Rajasthani dance welcome in Dubai, for example. If you’re overdoing it, then you’re wasting your client’s money, you’re not giving the right experience to both your guest and your client. You have to be mindful of where you are and use the resources available there to the best of your advantage. For us, as an agency, we always use one or two events in every wedding, which are completely themed with the food and entertainment of that local culture, our clients have welcomed the idea when we pitch it to them. Creating value: Hospitality and food are areas where one can plan very well to ensure an immersive and delightful experience for guests
102 | BW BUSINESSWORLD | 07 October 2023 Step into the world of weddings with us as we sit down with CHETAN VOHRA, Managing Director, Line Communications & Weddingline, a trailblazer in the wedding industry. In this exclusive interview, we uncover the secrets, trends, and passion behind crafting dream weddings By Pratyaksh Dutta IN CONVERSATION Weddings By Ruhail Amin THE EXPERIENTIAL ECONOMY REVOLUTIONISING WEDDINGS
How has technology influenced the wedding industry, and what role does Weddingline play in this transformation? Technology has taken over every aspect of the world, especially after Covid-19, including the way our children go to school and the way we attend work. Nowadays, nobody is travelling at the drop of a hat to faraway places for meetings. From a wedding standpoint, we got into the technology game about seven or eight years ago when apps started coming up. There have been certain other R&Ds that are going on. For example, we are trying to look at bot-based tele-calling and RSVP. I think as a wedding company we are still largely experiential; technology today has made the human experience considerably better. Today you don’t need to walk into a destination wedding and walk into a counter to register yourself or a guest and get your room key. Everything is digital. Your key card reaches you on your phone. 07 October 2023 | BW BUSINESSWORLD | 103
104 | BW BUSINESSWORLD | 07 October 2023 What trends do you see emerging in the wedding industry? There is a significant transformation in the way everything moves. There was a time when everybody wanted to go to Thailand, that was the place to be. Today you have various places, largely unexplored, like Vietnam or Croatia, where people are now thronging to. Change is a part of the whole game that we do. The biggest change I see is in the mindset of the people. Of course, planners cribbed about the fact that there were only 50 people and 100 people allowed at weddings during Covid but what our clients taught us was that even if the number of people is less, it doesn’t matter because they have the same amount of money. They wanted to spend on over a 1000 people before, now they want to spend the same amount on 100 or 200 people. The client mindset has changed largely to giving the guests an experience of a lifetime. Weddings have now become mini experiential get-togethers. Sustainability and eco-friendly weddings have become more popular. How do you implement eco-conscious practices? Sustainability is a byproduct of change; the new generation is very particular about what we are doing to the planet. I think sustainability is something that they have adopted as their mantra, and they are thankfully forcing us all to look in that direction. Food wastage is something we monitor, for example, we’ve run a few weddings where we didn’t have buffets, we only had live stations and the chefs will cook it for you then and there. The advantage here is that you pick up the amount you want to eat, there is very little food that is taken off your plate and put into a bin. We are also working with our caterers to have sponsored places with machines that can recycle garbage. I think sustainability is the direction we have to move in. We have seen destination weddings are on the rise, what is leading to this phenomenal growth? Destination weddings are at an all-time high because governments have increasingly opened up to the concept of wedding tourism. They want more visitors to come and spend more money. They want them to partake in their local economy. I am proud to say that our company has been at the forefront of talking to multiple governments and consulting them on wedding tourism. It is the thing of the future and it’s a great win-win for everybody. What sets experiential weddings apart from traditional ones? THE EXPERIENTIAL ECONOMY IN CONVERSATION Weddings
07 October 2023 | BW BUSINESSWORLD | 105 about it and I think that’s what’s important. We all want stories, whether it’s a good ending or a bad ending. How do couples add personal touches to their weddings, and what does it mean for the guest experience? Personalisation has been there for a while, not just in weddings, you go to a hotel, and you have your name on the screen, on a letter pad, and in a bag. Personalisation is now a tried and tested phenomenon. We don’t like to waste money on frivolous stuff, which we think will get us a moment’s happiness. We’ve taken personalisation to an experiential level. Every wedding has a hamper for every room. Many people would open a packet of chips, have maybe two or three little pieces and leave the rest. Now that’s waste, you can’t do anything about it, and you can’t give it to anyone else. We came up with the concept of a live ‘dukan’. It’s called the ‘WeddingLine Dukan’, It’s like a convenience store. When you check into a hotel for a wedding, you are directed to this convenience store and you can decide to pick up whatever you want. This saves money for my client, and it saves a lot of waste in the industry. We’ve seen that there’s been a 70 per cent reduction in wastage because of this. Personalisation does not have to be gift cases containing 20 things with your name, it can also mean an experience. A personal cooking lesson from a celebrated chef is a personal experience that you will carry forever. Personalisation today, I think, has become very generic and we are trying to change the game, we are trying to make it more experiential and more soulful. Even a traditional wedding is an experience today. Technology is enveloping everything. But if I take a wedding of 100 people to a Tibetan monastery, and we sit down quietly, meditate for a few hours, and partake in their rituals, then for those 100 people, that’s a wedding which is completely different from what anyone would have thought. There was a wedding we did where we didn’t have a caterer, we had three very well-known restaurants from Delhi who set up their mini-restaurants. I think anything that makes the event interesting, anything that is fresh, anything that’s new, that’s what people want and that’s what you call experiences. How does storytelling enhance weddings, and how do couples weave their unique stories into their big day? I think every wedding is a story. If it’s an arranged marriage, then it’s a story that’s being written out live. If it’s a love story, then that’s a story that’s already been written and you joined the picture to see the happy ending or the beginning of a new journey for them. We take the art of storytelling very seriously, right from the time we get to know our clients, we ask them about their stories, about how their parents met, and how their grandparents met. I recently recreated somebody’s parents’ wedding, right down to the set, right down to the food menu, right down to the clothes they wore, right down to the kind of photography that was in black and white. I think storytelling is the Ganga that runs through the entire wedding experience. It’s the Holy Grail, if you have a great story, it’s gripping, everybody’s going to read it, everybody’s going to write about it, everybody’s going to talk
106 | BW BUSINESSWORLD | 07 October 2023 What notable developments have occurred at FNP (Ferns N Petals) in the past year? Over the past 12 months, FNP has expanded its focus on weddings, particularly in the realm of destination weddings, which was not a primary focus previously. Additionally, we’ve ventured into the food industry, specifically catering for weddings. These two additions to our existing portfolio are part of our new initiative known as Shaadi Central. We’re actively involved in organising and overseeing numerous destination weddings this year, offering end-to-end services from inception to planning and curation. What factors do couples typically consider when choosing between domestic and international destinations for their destination wedding, and how does the season affect these choices? Destination wedding means a wedding outside your house, it can be a small resort nearby, it can be a palace in Udaipur or a wedding overseas. It depends entirely on the choice of the bride and the bridegroom, the family and also the budget and the time of the year you are getting In an exclusive interview, VIKAAS GUTGUTIA, Founder & Managing Director, Ferns N Petals (FNP), delves into the remarkable journey of the company and the ever-evolving landscape of the wedding industry. From the rise of intimate weddings to the resurgence of NRIs choosing India as their wedding destination, and the unique factors that set FNP Signature apart, Gutgutia shares his valuable insights and ambitious plans for the future, including FNP’s global expansion and a forthcoming public offering. Excerpts By Ruhail Amin THE EXPERIENTIAL ECONOMY “NOWADAYS, COUPLES WANT AN INTIMATE WEDDING WITH CLOSE FRIENDS AND FAMILY” IN CONVERSATION Weddings
Photographs by Naval Kishor 07 October 2023 | BW BUSINESSWORLD | 107
108 | BW BUSINESSWORLD | 07 October 2023 married, because it has to be weather-friendly. So for example if you are looking at winter weddings, Goa, Jaipur, Dubai, you know, they sound more exciting because they are very pleasant and beautiful during that time. If it is summer, then you go to hills, you go to Europe, you know, that’s where you enjoy more. So the whole wedding season is divided between summer and winter, and accordingly the destinations. What are some of the most popular destinations for destination weddings in India? One of the top choices for destination weddings in India is Rajasthan. The state offers a wide range of venues to suit different budgets, from Jaipur to Udaipur. Whether you are planning an extravagant affair or a more intimate gathering, Rajasthan has options for all. Another popular destination is Goa, which is known for its beautiful beaches and vibrant atmosphere, making it a fantastic backdrop for a wedding. Destination weddings typically host around 200 to 300 guests, with budgets varying from Rs 25,000 per person to a couple of lakhs per person. Couples from smaller towns in India are also spending big on destination weddings. In metropolitan cities, local weddings in hotels or other venues within the city are also common. While these may not involve taking guests to an entirely different destination, they are sometimes referred to as destination weddings since they are not held at the couple’s home. What sets FNP Signature apart in the destination wedding market? Three things, first of all we are the oldest and the biggest. When I started the wedding business, the wedding was not even called an industry. The first destination wedding happened in front of my eyes, I have been part of this whole process from day one. Number two, we have participated in every aspect of the wedding. From a florist to a decorator to a hotelier and even to an event company, we know every aspect of a wedding very minutely and most of the wedding companies that are mushrooming cannot curate it like we do. Thirdly, I think weddings are also about trust. So FNP as a brand is a very trustworthy and respected brand. So people know that at FNP you will get value for money and you will be serviced well. What are the big challenges in this sector? I think there are 2-3 hurdles or requirements which will probably help the wedding industry here grow to its full poTHE EXPERIENTIAL ECONOMY IN CONVERSATION Weddings
07 October 2023 | BW BUSINESSWORLD | 109 many guests on the list. They want an intimate wedding with close friends and family. Also couples like to experiment. Like why only ‘dulhe ki barat’; now there is also ‘dulhan ki barat’. So the gender conversation is coming to modern weddings. What trends are emerging among NRIs (non-resident Indians) in terms of their preferences for wedding destinations? Are they showing a renewed interest in India? See, I think there is a good share of all the destinations, but yes people do come back to India to get married and starting from December 15 to January 15 we call it the NRI wedding season and thousands of such weddings take place each year. When you look back at your journey, what will you call your top learnings? When it comes to flowers and weddings, you cannot always be black and white, you have to be illogically logical. My second big learning is that things don’t happen overnight. Patience is very important. You have to keep persisting and then ultimately you see things happening. Another big learning is that you have to think out of the box and you have to take risks. You cannot be doing good business in a comfort zone. Difficulties are where the opportunities are. What is your vision for FNP? We want to have our presence in at least 10-12 new countries by 2025. We will probably be getting into a new country every three months now. We have got very ambitious plans for our gifting division too. When it comes to weddings, we are moving more towards wedding hotels now. We have a hotel brand called Udman and we are expanding that brand as a wedding destination brand and in the next five years we should have around 100 hotels. And finally, something which is my big dream too, by 2025 FNP will go public. tential. First, it’s still an unorganised business, so I think the government should intervene and should have a wedding mantralaya in place, like they have a mantralaya for textiles, for railway etc. This can help make the wedding business more organised. Secondly, in terms of destinations, the tourism department can do a lot. There are a lot of beautiful destinations which can be promoted through tourism, which can ultimately become the hub for destination weddings from all over the world. I mean, Udaipur used to have no weddings. Today, in the wedding season, Udaipur is booked for the next three years. There are hundreds of such locations available around the country, which can be developed and promoted. Number three, I think the government should also look at some tax rebate or some kind of incentive for people to come into the mainstream, so that the whole thing becomes transparent. Overall, it’s the government which has to intervene for any industry to grow beyond a point. What are the latest trends in the wedding space? I think weddings are a dream for every couple and everybody has their own way of looking at weddings. One thing that is definitely getting more popular is that people are very happy with intimate weddings. Nowadays, couples don’t want too “We want to have our presence in at least 10- 12 new countries by 2025. We will probably be getting into a new country every three months now. We have got very ambitious plans for our gifting division too. When it comes to weddings, we are moving more towards wedding hotels now. We have a hotel brand called Udman and we are expanding that brand as a wedding destination brand and in the next five years we should have around 100 hotels”
110 | BW BUSINESSWORLD | 07 October 2023 I ndia, with its rich cultural heritage, diverse landscapes, and historical significance, has long been poised to become a significant player in the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. However, despite its natural and cultural advantages, the nation’s share in the global MICE business remained less than one per cent. As per data, India occupied the 28th position in the International Congress and Convention Association (ICCA) rankings for 2019, while the United States, Germany, and France consistently held the top positions. Similarly, the seven Indian cities that feature in the city rankings of ICCA also rank low – Delhi at 75th rank, Hyderabad at 159th rank, Bengaluru and Mumbai at 203th, Chennai at 201th, Goa at 307th and Ahmedabad at 424th rank. Nevertheless, the story is changing, and India is emerging as a compelling destination for MICE events. India’s MICE Transformation Over the past few years, India has embarked on a journey to unlock The coming up of convention centres at Pragati Maidan and YashoBhoomi in the capital signals India’s intent to be taken seriously in conferences and exhibitions segment FOCUS MICE G20 SUMMIT on ‘One Earth’ at Bharat Mandapam By Meha Mathur THE EXPERIENTIAL ECONOMY its MICE potential. This transformation has been marked by significant investments in event facilities, improved connectivity, and an enhanced hospitality infrastructure. One pivotal moment that catalysed this shift was the G20 Presidency held in India. It served as a platform to showcase the nation’s capabilities on the global stage and acted as a catalyst for change in the MICE landscape. “The G20 events, unlike their predecessors, were not confined to capital cities alone. These have been very well executed and received. And these have opened up scope for new venues where future government or corporate meetings can happen,” says Vineet Mishra, Cluster General Manager, Hotel Pullman and NovoUNLEASHING INDIA’S MICE POTENTIAL Photograph courtesy PIB
07 October 2023 | BW BUSINESSWORLD | 111 tel, New Delhi Aerocity. As Deepak Behl, Director of Sales and Marketing, Holiday Inn, New Delhi says, “We have been doing MICE events prior to G20 also, but the outlook has changed now. India is being taken as a very strong MICE destination. There is a surge in bookings that includes not just conference space but also room bookings.” The impact of the G20 was particularly evident in Aerocity, New Delhi, where establishments like Holiday Inn experienced a surge in bookings for conference spaces and rooms. Government teams began reserving hotels for planning meetings and recces throughout the year, generating considerable post-event interest. Factors Driving MICE Growth Several key factors have contributed to the burgeoning growth of India’s MICE industry. The country’s remarkable cultural and geographical diversity offers a multitude of opportunities for exploration and innovation. Furthermore, there has been a concerted effort to enhance road and air connectivity, thereby connecting even the remotest of locations. This expanded connectivity has unlocked the MICE and tourism potential in previously underserved regions. India’s MICE appeal has broadened significantly, with a more diverse array of sectors showing interest. This includes entities such as NGOs, which were traditionally less engaged in MICE activities. As Behl says, the lines between business conferences and leisure travel have blurred, as many attendees now choose to extend their business trips into enjoyable weekend getaways with their families. This trend has added a unique dimension to the MICE experience in India. Moreover, the development of a robust hospitality sector, including a wide range of accommodation options, is crucial to cater to the diverse needs and preferences of event attendees. Many experts believe that by making these strategic infrastructure investments, India can position itself as a top choice for international events, fostering economic growth and global engagement. The Road Ahead Despite the notable progress, Naveen Kundu, Managing Director of EbixCash, advises a measured approach. While the G20 Summit laid the foundation, it is imperative to ensure that the positive changes translate to consumers in G20 countries — the end-users of India’s tourism product. To further accelerate growth, Kundu proposes several strategic measures. Firstly, Kundu suggests developing an extensive network of convention centres, including marquee facilities capable of accommodating 2,000 to 5,000 delegates. By involving small and medium entrepreneurs in these projects and providing financial support, India can broaden its MICE infrastructure significantly. Additionally, recognising MICE as a priority sector and offering exemptions in the Goods and Services Tax (GST) could deter the outflow of foreign exchange on incentive tours. Kundu also underscores the importance of robust marketing and public relations efforts to showcase India’s rich and diverse heritage to the world. In conclusion, India’s MICE transformation is a testament to its resilience and determination. With substantial investments, improved connectivity, and a diverse range of experiences to offer, India is ascending in the global MICE arena. However, addressing the remaining challenges and implementing strategic solutions will be crucial to realising India’s full potential as a premier MICE destination on the global stage. “The G20 events, unlike their predecessors, were not confined to capital cities alone. These have been very well executed and received. And these have opened up scope for new venues where future government or corporate meetings can happen” VINEET MISHRA, Cluster General Manager, Hotel Pullman and Novotel, New Delhi Aerocity “We have been doing MICE events prior to G20 also, but the outlook has changed now. India is being taken as a very strong MICE destination. There is a surge in bookings that includes not just conference space but also room bookings” DEEPAK BEHL, Director of Sales and Marketing, Holiday Inn, New Delhi
112 | BW BUSINESSWORLD | 07 October 2023 Bharat Mandapam and Yashobhoomi, inaugurated on the eve of the G20 summit, are state-of-the-art and sustainable exhibition and convention centres that now put the national capital on the map of the world’s Rs 25-lakh crore conference tourism space FOCUS The G20 Ef fect By Pratyaksh Dutta THE EXPERIENTIAL ECONOMY P RIME minister Nar - endra Modi inaugurated t w o m e g a convention centres, Bharat Mandapam and Yashobhoomi in the national capital on the eve of the G20 summit, creating state-of-the-art infrastructure for MICE (meetings, incentives, conferences & exhibitions) events. India’s share in the world’s Rs 25 lakh crore MICE economy is barely a per cent at the moment, but perhaps a beginning has been made to change that. The two new Delhi landmarks are additions to the city’s experiential economy infrastructure that will in the days ahead showcase the country’s rich cultural heritage, as well as modern achievements to the world. They will also help the country nibble into the global conference tourism pie. Bharat Mandapam Bharat Mandapam, located at Pragati Maidan, can host up to 7,000 attendees in the multi-purpose hall and plenary hall collectively. Covering an approximate campus area WORLD CLASS MICE HUBS NOW ADORN DELHI
07 October 2023 | BW BUSINESSWORLD | 113 of 123 acres, Bharat Mandapam has been developed as India’s largest MICE destination. In terms of the covered space available for events, this complex ranks among the top exhibition and convention complexes in the world. The centre showcases various art forms and crafts from across the country. This modern complex was inaugurated by Prime Minister Modi on 26 July this year and offers state-of-the-art facilities, including a convention centre, expansive exhibition halls and an impressive amphitheatre. During the G20 Summit, Bharat Mandapam, often referred to as the “culture corridor,” showcased the diverse traditions of 29 countries, including India, to the special invitees to the G20. The Prime Minister shared images on X of the 27-feet-tall Ashtadhatu (mixed metal) statue of the Nataraja (the dancing shiva) weighing about 18 tonnes that was installed at the Bharat Mandapam. His Tweet said, “The magnificent Nataraja statue at Bharat Mandapam brings to life aspects of our rich history and culture. As the world gathers for the G20 summit, it will stand as a testament to India’s age-old artistry and traditions.” Renowned sculptor Radhakrishnan Sthapaty from Swami Malai in Tamil Nadu and his team completed this sculpture in a record time of seven months. The Bharat Mandapam was constructed at an investment of about Rs 2,700 crores to showcase and promote “India as a premier global business destination,” according to a government statement. It is designed to host international exhibitions, trade fairs, conventions, conferences, and national and international gatherings. The venue offers a fully equipped business centre, enabling it to accommodate a wide spectrum of events. The shape of the building is inspired by the form of the Shankha, or conch shell, which is a sacred symbol in Hinduism and Buddhism. The elliptical design of the centre epitomises the fluidity of the river Yamuna, which flows through the city – a theme that was “Both Bharat Mandapam and Yashobhoomi are a confluence of Indian culture and stateof-the-art facilities, and these grand establishments express India’s story before the world,” PRIME MINISTER NARENDRA MODI Photographs by PIB
114 | BW BUSINESSWORLD | 07 October 2023 also evident at the pavilions and the galleries during the G20 summit. It showcases various art forms and crafts from across the country, such as graceful sandstone pillars, ornamental panels inspired by traditional jaalis, richly embroidered carpets and Rajasthani style friezes on the oval core of the ceiling. The centre also features a replica of the Konark Wheel from the Sun temple at Puri, which is a 13th Century architectural marvel and a UNESCO World Heritage Site. Yashobhoomi Yashobhoomi, formerly known as India International Convention Centre (IICC), is situated at Sector 25 in Dwarka and is one of the world’s largest MICE facilities. Constructed at a cost of Rs 5,400 crores, it has a total project area of over 8.9 lakh square metres and a total built-up area of more than 1.8 lakh square metres. It comprises a large convention centre with a seating capacity of around 6,000 guests, three exhibition halls with a total area of over 1.07 lakh square metres, 15 convention rooms, a grand ballroom that can host 2,500 attendees and 13 meeting rooms capable of hosting 11,000 attendees. More than 200 events are lined up for Yashobhoomi over the next two years, including over 100 exhibitions and over 100 conventions. The operator for managing the exhibition and convention centre for 20 years is KINTEX. The venue is equipped with a state-of-the-art wastewater treatment system that enables the centre to achieve 100 per cent reuse of wastewater, rainwater harvesting facilities and rooftop solar panels. The campus has received Green Cities Platinum Certification from CII’s Indian Green Building Council. Conference tourism has emerged as a significant contributor to India’s experiential economy. The hosting of conferences and events generates substantial revenue and employment opportunities. It also promotes exchange of knowledge, networking, and collaboration among professionals from various fields. India’s share in the Rs 25 lakh crore MICE sector is less than one per cent. India ranked 28th with 158 meetings in the 2019 International Congress and Convention Association (ICCA) list. Delhi ranked 75th out of 475 cities. Bharat Mandapam and Yashobhoomi will help India capture more share in the sector, not only by attracting more visitors but “These centres will provide world-class experience to the visitors and will also generate employment opportunities for lakhs of youth in the hospitality, tourism and allied sectors,” UNION COMMERCE AND INDUSTRY MINISTER PIYUSH GOYAL THE EXPERIENTIAL ECONOMY FOCUS The G20 Ef fect
07 October 2023 | BW BUSINESSWORLD | 115 INDIA’S TOP EVENT VENUES Jio Convention Centre,Mumbai, Has a capacity for 10,640 delegates in two modular conference halls and 16,500 delegates in three module exhibition halls built over 15,000 sq. m of space, along with 25 meeting rooms Mahatma Mandir Conventionand Exhibition Centre in Gandhinagar, Has 22,000 sq. m. of convention and exhibition facilities and a capacity for 15,000 delegates Hyderabad International Convention Centre, Connected to Novotel Hyderabad Convention Centre, has a pillar-less internal hall across 6480 sq. metres of space with a seating capacity for 6,000 people that can be partitioned into six smaller halls GMR Convention Centre, Located adjacent to the Novotel Hyderabad Airport, spread over an area of 15 acres with a banquet hall with a seating capacity for 3,000 that can host global MICE events Bengaluru International Exhibition Centre, Has five exhibition halls across an area of 77,200 sq.metres and four conference halls with varying capacities Biswa Bangla Convention Centre Kolkata, Has 3,000+ capacity, two large auditoriums, four exhibition halls and six banquet halls also by encouraging the growth of ancillary industries such as hospitality, transportation, and entertainment. The Prime Minister said that these two convention centres together will make Delhi the biggest hub for conference and exhibition tourism in the world and will help showcase India’s economic prowess and commercial muscle to the global audience. He also invited the film and television industry, as well as global event management companies, to organise events at these venues. “Both Bharat Mandapam and Yashobhoomi are a confluence of Indian culture and state-of-the-art facilities, and these grand establishments express India’s story before the world,” the Prime Minister said. He also launched the PM Vishwakarma Scheme to help traditional artisans, craftsmen and weavers who have contributed to the construction and decoration of these centres. The scheme will provide financial assistance, skill development and market linkages to 18 categories of artisans. Union Commerce and Industry Minister Piyush Goyal has said that Bharat Mandapam and Yashobhoomi will help promote trade, industry and employment in the country and will attract more foreign visitors and investors. “These centres will provide world-class experience to the visitors and will also generate employment opportunities for lakhs of youth in the hospitality, tourism and allied sectors,” Goyal said. The designs for both Bharat Mandapam and Yashobhoomi conform to architectural stipulations for sustainability and environmental conservation. Yashobhoomi is connected to the Delhi Airport Metro Express through a new metro station inaugurated at Sector 25 in Dwarka. The Prime Minister also inaugurated the extension of the metro line from Dwarka’s Sector 21 to Sector 25. With these two mega projects, Delhi is set to become a preferred destination for hosting national and international events, exhibitions and conferences. The government hopes that these centres will contribute to India’s experiential economy and enhance its soft power in the world. [email protected]
116 | BW BUSINESSWORLD | 07 October 2023 T HE G20 SUMMIT in New Delhi acquired many feathers in its hat, like the inclusion of the African Union into the grouping, the India-Middle East – Europe Economic Corridor, a global biofuels alliance, and most of all, the unanimous adoption of a joint declaration that once again demonstrated India’s rising stature on the global stage. There were some less conspicuous fallouts too, like a sudden and massive acceleration in travel and tourism services after a long pall since the onset of the pandemic. The Delhi Declaration, incidentally, adopted the Goa Roadmap for Tourism that focuses on achieving the Sustainable Development Goals (SDG). The Union Ministry of Tourism designated 2023 as the ‘Visit India’ year. Interacting with around 3,000 ground-level functionaries of the G20 Summit at the conch-shaped international exhibition and convention centre at Pragati Maidan – the Bharat Mandapam – on 23 September, Prime Minister Narendra Modi said, “This is a time to take tourism to new heights.” Prime Minister Modi said that the lakh key decision-makers FOCUS The G20 Ef fect TRAVEL & TOURISM GET THEIR MOJO BACK By Poonam Singh THE EXPERIENTIAL ECONOMY The G20 Joint declaration adopted the Goa Roadmap for Tourism, but for tourism as an industry, the fallout of the summit was multifarious. The year-long events hauled travel and hotel bookings out of a long pall, while top chefs got a global platform to exhibit their culinary skills. A special report Photograph courtesy PIB
07 October 2023 | BW BUSINESSWORLD | 117 who visited India during the summit had returned as tourism ambassadors of India. “The seed of this ambassadorship was planted by the good work of the ground-level functionaries,” he said. Tourism was as a matter of fact, among the key sectors in focus during India’s G20 presidency. Four tourism working groups were set up to promote and develop inclusive tourism. Five interconnected priorities were identified and endorsed by the G20 Tourism Working Group, namely green tourism, digitalisation, skills, tourism MSMEs and destination management. As Vinay Gupta, Director of Operations at ibis & ibis Styles India, points out, “This structural change will bring many more events to India from around the world.” In a recent report, the World Travel & Tourism Council (WTTC) 2022 said the contribution of India’s travel and tourism sector to India’s economy was to the tune of Rs 15.7 trillion and it would touch Rs 16.5 trillion by the end of 2023. “This event has had a transformative impact on India’s tourism industry, evidenced by a 166 per cent surge in inbound travel during the first four months of 2023 when compared to the same period in 2022,” points out Nishant Pitti, CEO and CoFounder of EaseMyTrip. Investment Boom According to a report jointly produced by UNWTO and fDi Intelligence, both FDI project numbers and job creation rates in the tourism cluster grew by 23 per cent from 286 investments in 2021 to 352 in 2022. Job creation through FDI in tourism Photograph courtesy PIB
118 | BW BUSINESSWORLD | 07 October 2023 also increased by 23 per cent over the same period, reaching an estimated workforce of 36,400 in 2022. The hotel and tourism sector accounted for almost two-thirds of all projects in the tourism cluster between 2018 and 2022, with FDI projects increasing by 25 per cent from 2021 to 2022. Addressing the G20 Tourism Meet in Goa, G. Kishan Reddy, Union Minister, Tourism and Culture and Development of the North Eastern Region (DoNER) had said that tourism had emerged as one of the fastest-growing economic sectors. He described tourism as a major source of employment, trade, investment, infrastructure development and social inclusion. “A sound Public Private Partnership will help ensure that sustainability and inclusion are at the heart of investment decisions and future growth,” he said. The Revival During the G20 summit, bookings and footfall at Indian hotels shot up, accompanied by a significant surge in hotel room pricing. All the four and five-star hotels in the national capital were fully booked. The hotel industry is expected to be doing big business through the year, as related events take place across the country. Says Tarun Tahiliani, India Country Manager at KAYAK, “During the summit, we observed a 51 per cent year-on-year increase in average hotel prices, with the average price being Rs 11,252. Hotel searches increased by around 20 per cent compared to last year. And it is expected to be the same for the entire 2023.” Job Creation At the Goa meet, Prime Minister Narendra Modi emphasised tourism’s potential for employment generation, social inclusion, and economic progress through collaborative efforts among states and the working groups addressing sustainable and inclusive tourism. Tourism employs more women and youth than most other sectors and provides livelihood opportunities to disadvantaged and vulnerable communities. Union minister G. Kishan Reddy added that tourism should become an investment magnet for both the private and public sectors, emphasising the need to innovate, explore new areas, and craft new strategies to not only regain pre-pandemic levels but to surpass it. Supporting the concept of upskilling the professional workforce through technical programmes, Zurab Pololikashvili, UNWTO Secretary-General, stated in a report that “By upskilling the professional HOTEL ROOM RATES SURGE THROUGH THE SUMMIT During the G20 summit, bookings and footfall at Indian hotels shot up, accompanied by a significant surge in hotel room pricing. All the four and fivestar hotels in the national capital were fully booked. The hotel industry is expected to be doing big business through the year, as related events take place “By upskilling the professional workforce through technical programme, we can equip young people, of whom only 50 per cent have completed secondary education, with the knowledge and capabilities they need to thrive in the sector” ZURAB POLOLIKASHVILI, UNWTO Secretary-General THE EXPERIENTIAL ECONOMY FOCUS The G20 Ef fect
07 October 2023 | BW BUSINESSWORLD | 119 “During the summit, we observed a 51 per cent yearon-year increase in average hotel prices, with the average price being Rs 11,252. Hotel searches increased by around 20 per cent compared to last year. And it is expected to be the same for the entire 2023.” TARUN TAHILIANI, India Country Manager at KAYAK “We prepare regional favourites like pindi chole, chicken Kolhapuri, chicken Chettinad and many vegetarian cuisines. We’ve also been mindful of the spice tolerance of the delegates and have a variety of international dishes available. The focus, however, remains on millets, with dedicated millet-based menus designed to celebrate the International Year of Millets” DEBASISH MUDULI, General Manager, The Fern Sardar Sarovar Resort Kevadiya range of dishes for the G-20 Summit, to be able to serve 170 dishes each day. Debasish Muduli, General Manager, The Fern Sardar Sarovar Resort Kevadiya, says, “we prepare regional favourites like pindi chole, chicken Kolhapuri, chicken Chettinad and many vegetarian cuisines. We’ve also been mindful of the spice tolerance of the delegates and have a variety of international dishes available. The focus, however, remains on millets, with dedicated millet-based menus designed to celebrate the International Year of Millets”. The G20 Summit and the global congregation it brought to India, was that flicker of hope that the tourism industry needed to kickstart a revival and the year-long events were that flame of the ceremonial lamp that have now lit up a path for it. [email protected] workforce through technical programme, we can equip young people, of whom only 50 per cent have completed secondary education, with the knowledge and capabilities they need to thrive in the sector.” Culinary Skills Last, but not the least significant fallout of the G20 summit in India was the tremendous platform the event provided the country’s chefs. Over 60 chefs were involved in preparing a
120 | BW BUSINESSWORLD | 07 October 2023 IN CONVERSATION MICE G20 came as a test of India’s meetings, incentives, conferences and exhibitions (MICE) capability. How have we fared? We have had a very good G20 and if not anything, it has started enlightening people that there is infrastructure available in this country for doing a reasonably good MICE event. There is a buzzword around the world that India has the MICE capability, but at the same time, I’ll also not mince my words by saying that whatever has happened has happened at the political level. Though it has made a very big noise in the world, what it needs to do is to transcend to the consumer in various countries of G20 who are actually the consumers of the tourism products that we offer. Whether it is a leisure traveller or whether it’s a corporate, a player in the exhibition space, or large meeting, or a large convention, it has to transcend to the consumer level. I see a lot of gap there; I don’t see a lot of initiatives there. Are you satisfied with the infrastructure boost for MICE that has come about as a result of G20? I am not sure we really have the infrastructure that we require at the global level. But I’m happy to say that there is a good beginning. We have got the Bharat Mandapam, we have got the YashoBhoomi, we have got the Jio Convention Centre and Nita Ambani Cultural Centre but in a country of the scale and magnitude that we have, of 1.4 billion people, having four, five large convention centres is not good enough. What will be the impact of YashoBhoomi coming up and the extension of the Airport Metro Express Line? These are minor indicators. These are not the ones that will get any country to make a decision that we should do our convention or an exhibition or a large-scale meeting in India. However, it definitely is a boost. I definitely say something is better than nothing. It’s a beginning of big things to come. During G20, there were a series of conferences throughout the year in various locations across India. What has been the experience of the travellers to these destinations? Most of these events were confined to a few people in the government and some industry people. We did not have the delegates and the delegations that should have come in loads from overseas. A few did come for Kashmir. But if we pick up the list of people who attended G20 in the various parts of the country, it was primarily our own government machinery, our own secretaries, and some officials who put together the G20 summit and discussed everything amongst themselves. It did not have the presence and the scale that should have been achieved. Moving forward, what will be the factors that will determine the success of MICE in India? One, we need more convention centres and we don’t only need convention centres of very large capacities. We need convention centres catering to 2,000 to 5,000 people. It’s like when India started making five-star hotels, the focus was either on very big five-star hotels or very basic hotels. That’s not the right approach. We need to involve smaller and medium enterprises for building marquee convention centres, which can hold conferences comprising 1,000, 1,500, 2,000 or 2,500 people. And that needs to be given financial aid. Two, MICE and tourism need to be a priority sector. The way Mr Modi talks about tourism – and I’m glad he does that – it has brought about a mindset change among NAVEEN KUNDU, Managing Director, EbixCash, with significant presence in travel services and travel technology, talks about the steps needed to be taken to boost India’s MICE performance. Excerpts By Meha Mathur “We Need Marquee Convention Centres & Tax Sops” THE EXPERIENTIAL ECONOMY Photograph by Suresh Gola
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122 | BW BUSINESSWORLD | 07 October 2023 THE EXPERIENTIAL ECONOMY “In a country of the scale and magnitude that we have, of 1.4 billion people, having four, five large convention centres is not good enough” Photograph by MaxGoth IN CONVERSATION MICE
07 October 2023 | BW BUSINESSWORLD | 123 spending a sizeable chunk of money in incentivising and doing conferences globally. India sends 25 million people abroad, out of which 5 million are MICE travellers. Which means that you are actually sending your own hard-earned foreign exchange out of the country. So, if there is a partial taxation benefit available to the corporates, things will improve and make a big change. Four, to ensure that we have a basic plan of marketing. India is a country of monumental significance. It has a heritage to really talk about and it is culturally very rich and vast and diverse. But we need to have basic plans of marketing. There has to be a marketing action plan in place. We put up a big ad with big photo on it and that’s about it. That’s not marketing. We need to build PR activities. And that is what needs to happen between the government and the private sector. What would you say about Indian events in terms of ticketing revenues? How is our performance on that front? As regards the ticket size of the events like a sporting event or a large-scale exhibition or conference, I think India is very far. We can just get a cricket world cup. But it’s a distant dream to have Olympics or a FIFA World Cup happening in India. And if you talk about film events, what film events do we do? Either we do them in Mumbai or the IIFA goes out of India. What are we doing in India? When it comes to large concerts, now there is space available in both YashoBhoomi and Jio as well as in Bharat Mandapam and I am very hopeful that we’ll have large-scale concerts coming to India but for that the clearances needed are a nightmare. There are so many bottlenecks. And the ticket size becomes so big and then eventually people don’t want to buy the tickets; everybody wants a pass or free ticket. So, it’s a little ambitious right now. Has there been any government push towards that or has any enabling policy come about? As I said, there are so many clearances. Why can’t there be just one single window clearance? The Ministry of Tourism should have an event cell wherein an event management company presents the details of the event – the number of artists coming, probable venues and revenue that could be generated. That is what happens in America and the UK. The only clearances needed are from Ministry of Finance, Ministry of Home and Ministry of External Affairs and they put it together and give a single window clearance in a week. There is a mindset change that has been brought about by this government in the last 9-10 years that India has the ability to do such events, but the question is how soon. people. But only a mindset change will not help. It has to be backed by a solid plan, and that has to be executed well. Three, which the Ministry of Tourism, Government of India has initiated to an extent, but not largely, and it has not been communicated globally or to the Indian corporates is to make sure that there is a tax sop available in GST for Indian corporates as well as global corporates to come to India and a part of GST can be reclaimed. I’m currently doing a conference in England and 50 per cent of the VAT can be reclaimed back by the companies that are doing conferences in England. Today, Indian corporates are
124 | BW BUSINESSWORLD | 07 October 2023 IN CONVERSATION Events & Ticketing THE EXPERIENTIAL ECONOMY “We want to be the best curators for your scene, whatever it may be—from music gigs and concerts to theatre performances, comedy shows or even your favourite sport leagues”
07 October 2023 | BW BUSINESSWORLD | 125 By Team BW “We see ourselves as project directors on behalf of all stakeholders” Could you elaborate on the establishment of Paytm Insider’s event business and share an overview of its journey up to the present? Paytm Insider was founded in June 2017, as a marketplace for organisers to seamlessly manage and plan events, and for consumers to discover and buy tickets to exciting experiences in their cities. Since then, we’ve grown manifold in terms of our offerings — from the kind of events we curate to the 170+ cities that we are present in today. Last year itself, the music category on Paytm Insider grew by over 2.2x compared to Paytm Insider, a prominent player in the event industry ecosystem, has embarked on a remarkable journey since its establishment in June 2017. Initially conceived as a marketplace for event organisation and ticket sales, Paytm Insider has evolved into a dynamic platform, revolutionising the event business. Varun Khare, Business Head, Paytm Insider, in an interaction with BW Businessworld discusses the company’s journey, strategies, challenges, and vision for the future
2019. I joined the Paytm Insider team in 2020 with a brief to lead IPs and Touring. At this point, over a conversation with Shreyas Srinivasan, CEO & Founder of Paytm Insider & Head of Product, and Madhur Deora, President and Group CFO - Paytm, we made the choice to pivot away from acting as sole promoters and producers, owing to the fact that unlike the West, India as a market has more producers who act as promoters. Keeping that in mind, we chose to focus on our core offering—which is ticketing—and double down on how we could further benefit the live events ecosystem via IPs & touring. Needless to say, each decision comes with its own pros and cons. In this case, we felt it was in the best interests of the marketplace and, of course, ours, to be able to act as co-promoters and co-producers with our partners from across the country. This has enhanced our offerings to the consumers, venues, brands and the co-promoters we work with. Paytm Insider has become a prominent player in the event industry ecosystem. What strategies have you implemented “We have built a seamless user journey for customers — from discovery of events/ artists to quick checkout with M-ticket options available across most events. Cashless payments made possible via RFID solutions enable customers to purchase F&B and merchandise at events with just the tap of a card” IN CONVERSATION Events & Ticketing THE EXPERIENTIAL ECONOMY 126 | BW BUSINESSWORLD | 07 October 2023
07 October 2023 | BW BUSINESSWORLD | 127 festivals are not from the top 10 cities. How does Paytm Insider curate and select the events it promotes? What factors do you consider when choosing which events to feature? While we’re on the lookout for international acts, our core focus is on musicians from India. We believe there is great scope for growth amongst mainstream artists and talent in regional markets, particularly in Tier-2 and Tier-3 cities. Not keeping the focus solely on urbane English- or Hindi-speaking talent, has ensured the widening of our customer base. The tremendous audience responses to southern talent like the legendary Ilaiyaraaja, Pradeep Kumar, Vijay Antony, Motta Maadi Music, or Aniruddha, and eastern genius of Rupam Islam & Fossils, Anupam Roy and Chandrabindoo, among others, bear testimony to our focus to non-urban markets. Event trends are constantly evolving. How does Paytm to achieve this success? Our decision to move away from being sole promoters or producers and instead act as co-promoters and co-producers with our partners has truly paid off. We have, in turn, been able to focus on the fundamentals of our offerings, i.e. being fully transparent with partners, sharing insights and analytics, and being able to make available the resources at our disposal. When I say resources, I don’t mean money alone. The intangibly amazing experiences that our teams have had while being able to handhold and work with artists, brands and co-promoters to stir growth and opportunity in metros and other cities across the country, serve as an immeasurable resource. We’ve also ensured that we don’t only focus on the larger names/crowd-pullers in urban markets but instead spend some time understanding regional markets and consumption habits. All this, while being able to essentially speak to fans in their language and settings across various genres in their own cities. Today 32 per cent of fans who buy tickets to concerts and music
128 | BW BUSINESSWORLD | 07 October 2023 Insider stay ahead of the curve and adapt to changing audience preferences? A simple but accurate answer to that would be that Paytm Insider is constantly working to evolve with the industry and its trends. It is a constant balance between content and context. So, from an A&R perspective we ensure that we are aligned with global trends and music by having regular deep conversations with the artiste fraternity. We have a team that is heavily exposed to and knowledgeable within the live entertainment space and are passionate about music. This certainly is a big plus. Simultaneously, we continue to work closely with promoters and our partner network across the country to understand trends and forecasts whilst cross checking with internal A&R teams and pulling up rich data and analytics to better understand consumer behaviour and spends. Of course, always having a good ear to the ground can never go out of fashion! From a business point of view, we consistently track macro developments such as GDP, economic conditions, licenses and policies including (but not limited to) music licenses. Despite every tool and technology at our disposal, nothing can replace the organic feedback of being at these gigs and catching an audience’s reaction first-hand. Our highly committed and superlatively passionate team is always present in full-force at these events not just for troubleshooting, but for experiencing the artiste and the audience live. It isn’t always about the scale of the event. We have had times when a 200 pax audience has given us more insight than a couple of thousands at a gig venue. What challenges does Paytm Insider face in the event business, and how do you overcome them? Kickstarting an IP & touring team meant we were undertaking more risk. To start with, we chose not to adopt a top of the pyramid approach by owning our own IPs and restricting data and insights. Instead of competing with our partners, we opted to invest our money and resources where it truly matters: i.e.into the industry directly with expert promoters, producers, artists and venues. Kickstarting an IP and touring team has resulted in us undertaking more risk and our awareness of this risk factor has only fuelled us to do better. Therefore, we approached every gig, tour or IP, with the same intensity to ensure a predictability of the customer experience, production standards and business efficacy. At times, not all of this remained in our control but the intent has always been to move forward together and develop a close-knit, large community of professionals. We have never lost sight of our role in fostering this sense of community and pride ourselves for not indulging in navel-gazing. Besides all that, there are challenges like every industry faces. I for one would like to see the live industry feature more in larger forums like FICCI, for example, and I do see room for a reduction in taxation for the arts. But from a more myopic standpoint, things like unseasonal weather, small (but growing) list of talent, lack of single window clearances for permissions are all challenges we continue to face. Paytm Insider is known for its seamless ticketing and event management services. How do you ensure a smooth experience for both event organisers and attendees? We have an extremely skilled and experienced team whose efforts are dedicated to creating a seamless, predictably reassuring experience for our customers, talents and brands. In fact, we don’t produce events, preferring instead to work with the very best producers in the country in order to put together these experiences. We don multiple hats as an extension of the talent team, brand and sponsorship teams and production teams. We remain committed to the customer experience, ensuring that we are marketing and promoting the right experiences to our vast audience across both Paytm & Paytm Insider. We see ourselves as project directors on behalf of all stakeholders. There’s no IN CONVERSATION Events & Ticketing THE EXPERIENTIAL ECONOMY
07 October 2023 | BW BUSINESSWORLD | 129 We place a lot of importance on our technology, not only focusing on consistently improving the customer journey but also ensuring that organisers have a smooth experience when planning and managing their events. We have built a seamless user journey for customers — from discovery of events/artists to quick checkout with M-ticket options available across most events. Cashless payments made possible via RFID solutions enable customers to purchase F&B and merchandise at events with just the tap of a card. Our turnstiles and scanners have helped secure entry to as many as 100,000 fans per match across multiple stadiums, during the IPL season, concerts, tours and other events. Customers also have the option of seamless ticket transfers as one of the many value-added features our platform offers. From an organiser point of view, we’ve built a complete DIY dashboard to enable them to create, manage, contract and settle events with ease without even having to engage with a representative at our end. They can use our services to host on ground or digital mediums like video-on-demand or streaming events. The organiser dashboard offers insights on event-related stats like traffic, sales information, trends, revenue generated, including the ability to manage guest lists or send out specific communication or event guides to attendees. How do you see the future of the event business, and what are Paytm Insider’s long-term goals in this industry? We’re in an incredibly nascent space which only means the potential to grow is incredible. I do see a lot more short-term competition in this space, more venues and infrastructure to support this growth and much more philanthropic or brand support as a part of the industry growth. We will see more relationships converting to partnerships than simply client-vendor relationships, as we enter a space of collaboration to be successful. We want to be the best curators for your scene, whatever it may be—from music gigs and concerts to theatre performances, comedy shows or even your favourite sport leagues. We want to be your guide to discovering exciting, unique experiences in just about any city in the country. If we can do that whilst delivering the best support to our fans and other stakeholders, we’d be extremely happy. That will always be both our short-term and long-term goals. one-size-fits-all solution; we focus on our core and also look to complement our partners who bring different strengths to the table. Our attitude of inclusion has built tremendous goodwill for us with attendees and organisers alike and we’re both grateful and mindful of that. How do you build and maintain strong partnerships with artists, venues, and other stakeholders in the music event industry? As previously mentioned, our intent and focus has always been to work together with artists, promoters, venues and brands. We do this with complete transparency, unfailingly working on good faith and constantly trying to derive more value for all our stakeholders. We acknowledge, understand and respect our shared goal with these stakeholders and never lose sight of how to complement them towards that. Does Paytm Insider have plans to incorporate virtual experiences into its music event offerings? Yes, we’d love to and are exploring this in select markets. To be honest though, this is more a question for the music rights owners to see if they’d like to partake in including this offering as a part of our collective success. What role does technology play in enhancing the music event experience for attendees, and how does Paytm Insider leverage technology to achieve this?
130 | BW BUSINESSWORLD | 07 October 2023 Xeno Reality, founded by S. KRISHNAMOORTHY, has emerged as a leader in immersive technology, reshaping the way people engage with events and products. In an interview with BW Businessworld, Krishnamoorthy and Jateen Rajput, Chief Experience Creator & Problem Seeker at Xeno, share insights into the company’s journey, the transformative potential of augmented as well as virtual reality (AR & VR), and their commitment to making immersive experiences accessible to all. Excerpts By Team BW THE EXPERIENTIAL ECONOMY Leveraging Tech to Transform Real-world Experiences IN CONVERSATION Technology Can you please explain your vision for disrupting the experiential space using AR and VR technologies? What inspired you to pursue this path? S. Krishnamoorthy: Traditional experiential marketing was relegated to personal experiences that could be offered in a specific geographic space. With the world becoming one playground, the dilemma for a local brand over how it can offer a personal immersive experience to a global customer was the first trigger point for us to build our company. The use of emerging media (a mix of augmented reality, virtual reality, mixed reality, virtual production, etc) was traditionally used for gaming and entertainment. But what if the same philosophy of “gamify a problem=solution scenario” is used create a product/ service that would break the inertia of a customer from reaching out to experience a product”, and this could be from wherever, whenever and whatever place they maybe. Being able to be in a place and do a thing without being physically there and live through the simulated experience will be the future extension for brands, companies, and services to (L) S. Krishnamoorthy, Founder & CEO, Xeno Reality & Jateen Rajput, Chief Experience Creator & Problem Seeker, Xeno Reality
07 October 2023 | BW BUSINESSWORLD | 131 stream use for consumers? SK: Bringing AR and VR experiences into mainstream use for consumers has indeed been an exciting yet challenging endeavour. The penetration of AR and VR hardware and knowledge about their use remains limited in many regions. VR devices, in particular, are still considered a rarity and expensive and too cumbersome or technical to use. To address this, we’ve adopted a dual approach. While we’ve built a comprehensive ecosystem for immersive tech compatible with VR devices and immersive hardware, we’ve also created versions of our products tailored for smartphones and internet-powered displays which are more easily used and understood by customers. This strategy allows us to cater to a broader audience, irrespective of their hardware preferences while we continue to offer them the core experience. Access to high-speed internet bandwidth can be inconsistent, especially in certain geographic areas. This poses a challenge for delivering seamless AR and VR experiences, which often rely on data-intensive content. To mitigate this, we’ve optimised our content for various bandwidth conditions, ensuring that users can access immersive experiences even in lessthan-ideal network conditions. The challenge of inconsistent or non-universally compatible content formats has been a concern. Different platforms may have varying content requirements and standards. To address this challenge, we’ve invested in creating versatile content that can adapt to different platforms, ensuring a consistent user experience regardless of the device or software being used. Could you share some examples of how your AR/VR solutions are currently being used to enhance real-world experiences or industries? Jateen Rajput: Our 360-degree immersive venue recce solution has transformed the way corporate event planners, wedding organisers, and clients choose venues for their special occasions. Rather than physically inspecting locations, our solution allows users to virtually explore venues from anywhere. They can walk through the space, adjust layouts, lighting, and leverage their marketing using technology. A lot of marketers typically face a challenge with geographic limitations to sell their products or services. We saw this as a disruptive opportunity and decided to build products that would bring customers and marketers to experience a product from wherever they were selling to whoever they could sell anywhere in the world simply by transporting both customer and marketer into a world that was unreally real. We envision a world where physical and digital boundaries blur, and immersive technologies such as augmented reality (AR) and virtual reality (VR) converge to create extraordinary experiences that go beyond the confines of traditional experiential marketing. We are all for enabling brands, companies, and services to engage with their audiences by embracing a new era of limitless, global, and personally tailored immersive experiences. What are some of the key challenges you’ve encountered while working to bring AR and VR experiences into main-
132 | BW BUSINESSWORLD | 07 October 2023 seating arrangements in real-time, and even visualise the venue with customised stage designs and branding. This not only saves time and money but also helps in making informed decisions about event feasibility without the need for physical visits. Xeno Reality’s AR/VR technology is revolutionising retail and real estate by enabling customers to virtually visit sites and visualise their future spaces. In the real estate sector, customers can customise apartments with their own furniture, wall textures, and fittings. They can even view how the apartment looks at different times of the day and under varying weather conditions. Additionally, our live tour feature allows real estate agents and buyers to interact via video calls within the virtual apartment, facilitating sales discussions and decisions even before a physical visit. This solution is particularly beneficial for international customers and developers looking to connect with buyers worldwide. Our 360-degree live VR technology transforms live events, product launches, concerts, sports tournaments, shows, political rallies into real-time experiences that can be seen on VR devices and smartphones from anywhere in the world allowing audiences to participate remotely in real-time experiences. Viewers can virtually attend these events, teleport themselves between camera views, thus providing a new level of accessibility and engagement which is completely driven by the user. Religious tourism that allows a customer to visit a shrine or place of worship and watch the proceedings and offer prayer services in real time and also get insights into history, articles of significance and learn about the location in real time is also a part of the immersive experience than can be accessed from anywhere in the world. How do you envision AR and VR technologies evolving in the coming years, and what role will your company play in shaping that future? SR: We anticipate deep tech and the subsidiary emerging media technologies to become more accessible to a wider audience. As hardware becomes more affordable and userfriendly, these technologies will no longer be limited to niche markets. Today, we can have a speaker remotely chat and be present with an audience in a room without physically being there. Through a hologram, it is possible to visit a destination and experience the sights and activities in real time; it’s possible for remote friends to meet up virtually for a game of IPL “We are all for enabling brands, companies, and services to engage with their audiences by embracing a new era of limitless, global, and personally tailored immersive experiences” THE EXPERIENTIAL ECONOMY IN CONVERSATION Technology Photograph by Metamorworks
07 October 2023 | BW BUSINESSWORLD | 133 and gaming industries, offering more immersive and interactive experiences. Our role will be to push the boundaries of creativity in these domains, creating captivating and innovative entertainment and gaming experiences which are bespoke, which can be customised and used as templates for various applications in any industry. What are challenges in mass adoption of AR and VR experiences, and what are you doing to overcome these challenges? SK: The mass adoption of immersive experiences presents several challenges, and we already address some of these through our technology solutions that are device agnostic and also bandwidth friendly. While high-quality AR and VR hardware can be expensive, limiting accessibility for many consumers and businesses, we have built products that work as web URL and online and offline applications. We also have built the same applications for high-end VR devices where the user can afford to use and see better graphics and more interactivity. Today, one can view a top quality concert at 4K and 8K and 16K resolution in 360VR with us and also see it on your smartphone at a decent speed and resolution of 480p. Our objective in developing immersive mar-tech is to make it accessible and useful to all, albeit with variations in features based on device hardware capabilities Creating immersive and engaging content for AR and VR can be complex and resource-intensive. There are many backend workflows that we have developed ranging from AI and ML based content, workflows that allow motion capture to substitute absence of characters or objects, digital twins, volume capture, NERF, 360-degree scanning of venues, use of latest render engines to develop realistic visuals and true to life content. Each of our content is designed to suit an application need and we endeavour to bring to life through content the solution that our clients need. and do a watch party in real time together. Immersive tech will shrink the distances and allow people to access more solutions from anywhere and that will transform how experiential marketing will be targeted. IoT devices, VR viewing devices, spatial computing devices are poised to seamlessly integrate into our daily lives. They will enhance real-world experiences by providing contextual information, immersive entertainment, and interactive educational tools. Our company is committed to making this integration seamless by developing applications that are easy to use and compatible with a range of devices and environments. AR and VR will continue to dominate the entertainment “Our 360-degree live VR technology transforms live events, product launches, concerts, sports tournaments, shows, political rallies into real-time experiences that can be seen on VR devices and smartphones”
134 | B W BUSINESSWORLD | 07 October 2023 THE EXPERIENTIAL ECONOMY HE INDIAN CINEMA industry has witnessed a remarkable transformation since the dawn of multiplexes in 1997. Today, these multiplexes stretch their arms across approximately 110 cities, establishing a robust presence through national and regional chains. This expansion has not only enriched the entertainment landscape but also provided the nation with a high-quality cinematic experience. The winds of change blowing through the industry have been greatly fuelled by the internet. In a digitally connected India, the youth are driven by a thirst for diverse experiences. Movies, once seen as a cost-effective escape akin to a vacation, are at the heart of this transformation, reshaping the entertainment business and diversifying content in unprecedented ways. In a post-pandemic world, a thirst for immersive social experiences has emerged. People are yearning for the magic of the silver screen, dining out, and rediscovering the joy of travel. Remarkably, 2023 is poised to become a historic year for the Indian box office, with collections already nearing Rs 7,000 crore and a projected Rs 11,000 to Rs 12,000 crore by yearend, setting a new industry record. The global appeal of Indian cinema is also on the rise, with films like Oppenheimer achieving unprecedented success. India has become the world’s second-largest market for studios outside the US, marking an extraordinary milestone. T The educated youth of India are embracing diverse content, emphasising storytelling quality over genre. Despite concerns about over-the-top (OTT) platforms overshadowing cinema, different genres and languages continue to thrive, reaffirming the timeless allure of the silver screen. The spectrum of languages in Indian cinema has expanded, venturing into non-traditional markets. Digital releases, seamless distribution, subtitling, and dubbing technology have democratised film access, enriching the cinematic experience and expanding the audience base. OTT & QUALITY CONTENT OTT platforms have played a pivotal role in elevating the overall quality of Indian filmmaking. They have empowered filmmakers to produce betterquality, well-budgeted content, sparking a shift towards youth-centric narratives that resonate with a broader audience. This focus on quality and accessibility has undeniably enhanced the industry’s production standards. Cinema operators are at the forefront of offering unforgettable experiences that transcend home viewing. Immersive storytelling, cutting-edge technology, and gourmet food services are now staples in theatres. Comfortable seating options and affordable luxury offerings are no longer limited to metropolitan areas, thanks to cost-effective technological advancements. The Indian cinema industry’s journey from its first multiplex to its current global standing is a testament to its resilience and adaptability. As we embrace the digital age and changing consumer preferences, the future of Indian cinema shines brighter than ever. The author is Co-founder & CEO, Dishoom Cinemas Indian Multiplexes: NAVIGATING DIGITAL TRANSFORMATIONS COLUMN By Tushar Dhingra “The Indian cinema industry's journey from its first multiplex to its current global standing is a testament to its resilience and adaptability”
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136 | B W BUSINESSWORLD | 07 October 2023 THE EXPERIENTIAL ECONOMY I NDIA, A NATION renowned for its diverse culture and traditions, has seen a remarkable transformation in recent years. The emergence of the experiential economy, driven by the millennial generation, has ushered in a new era of innovation and change across various industries. From fashion and personal care to entertainment and ecommerce, this seismic shift is redefining consumer preferences and reshaping the business landscape. THE EXPERIENTIAL ECONOMY In a landscape where change is the only constant, India’s experiential economy has firmly established itself. This phenomenon is characterised by an eagerness to explore new products and services across online and offline channels. Fuelling this transformation are several key factors: 1. Diversity of choices: In sectors like fashion and personal care, direct-to-consumer Karan Taurani, SVP, Elara Capital A CONSUMER-DRIVEN EXPERIENTIAL REVOLUTION RESHAPING INDUSTRIES COLUMN By Karan Taurani
07 October 2023 | BW BUSINESSWORLD | 137 “Technology plays a pivotal role in shaping the experiential economy. Gen Z and millennials prioritise user experience over price sensitivity. They are willing to pay more for convenience and enhanced experiences. A seamless and technologically advanced shopping experience is essential for retaining this customer base” (D2C) brands have proliferated, offering consumers an array of choices. This shift in the market empowers consumers to experiment with emerging brands, a trend extending to Bollywood and the film industry. 2. Cinematic revolution: The film industry, particularly Bollywood, is witnessing a change in viewing patterns. Audiences are increasingly open to exploring OTT platforms and emerging stars. This willingness to embrace change reflects a broader shift towards experimentation. 3. Food industry dynamics: India’s food and beverage (F&B) industry is experiencing a transformation as global brands face challenges from dynamic, emerging competitors. These newcomers are growing faster than traditional market leaders, driven by evolving consumer preferences. 4. An omnichannel ecosystem: The experiential economy is leading the charge towards an omnichannel ecosystem. Online and offline experiences coexist, providing consumers with choices that cater to their evolving needs. THE MILLENNIAL INFLUENCE Millennials wield considerable influence in driving this experiential economy. Despite representing only 40 per cent of the population, they account for a staggering 92 per cent of ecommerce transactions. With nearly 700 million internet users in India and only 25 per cent penetration in online shopping, there is enormous potential for growth, with projected annual rates of 20 per cent to 25 per cent. THE GEN Z FACTOR The Gen Z and new-age consumers, aged 18 to 30, epitomise this shift. They exhibit limited brand loyalty and are open to trying new products and services. If these offerings align with their preferences, they willingly become repeat customers. This change is evident across industries, including FMCG, beauty, fashion, food, and even alcohol, where influencers rival traditional celebrities in popularity. TECHNOLOGY’S ROLE Technology plays a pivotal role in shaping the experiential economy. Gen Z and millennials prioritise user experience over price sensitivity. They are willing to pay more for convenience and enhanced experiences. A seamless and technologically advanced shopping experience is essential for retaining this customer base. FESTIVALS & SUSTAINABLE PRACTICES Festivals and cultural celebrations remain at the heart of India’s ethos. There is a noticeable shift towards eco-friendly celebrations, reflecting the evolving perspectives of younger generations. Sustainable practices have become a priority for businesses in the experiential sector, driven by new-age entrepreneurs. RISE OF THE PREMIUM SEGMENT With an increasing number of high-income and upper-middle-income households (39 per cent in CY 22, projected to grow to 50 per cent by CY 30), consumers now possess greater purchasing power and spending capacity. This shift is evident in industries such as destination weddings, renovations, and luxury goods, where premium segments outpace regular growth rates. EMERGING TRENDS & PROSPECTS As technology evolves, trends like Meta web 3.0, AI-based technologies, and immersive experiences are poised to reshape industries further. In this dynamic landscape, the experiential economy is poised for sustained growth and innovation, driven by the ever-evolving preferences of India’s millennials and Gen Z. Photograph by Hakule
138 | BW BUSINESSWORLD | 07 October 2023 20 | BW BUSINESSWORLD | 29 July 2023 ICC World Cup Ad Spends Between TV & Digital 14 12 10 8 6 4 2 0 CAGR of 6% 9 TV CY19 CY23E Source: Company, Elara Securities Estimate Digital 11.5 4.5 9.5 CAGR of 21% India: Total AdEx* May Grow 9% In CY23E 40 30 20 10 0 (10) (20) (30) 7.414.6 11.0 37.1 21.0 4.0 14.0 16.1 9.0 (19.9) CY17 CY18 CY19 CY20 CY21 CY22 H1CY23 H2CY23 CYT23 (Madison Estimate) CY23E (Revised) *Advertising Expenditure Source: Pitch Madison, Elara Securities Estimate INR Bn ICC World Cup 2023: A Blockbuster In The Making? 138 | BW BUSINESSWORLD | 07 October 2023
07 October 2023 | BW BUSINESSWORLD | 139 29 July 2023 | BW BUSINESSWORLD | 21 *Same-Store Sales Growth **Premium & Above Source: Company, Elara Securities Research Jubilant’s SSSG* During CWC Quarter In 2015/2019 Higher Than Annual SSSGs CWC edition 2015 No 6.6 (4.5) 2019 No 6.6 (4.5) Time zone favorable to Indians? SSSG YoY during CWC quarterAnnual SSSG YoY JUBILANT CWC edition 2015 No 2 9 2019 No 5.6 (4.2) Time zone favorable to Indians? Volume growth YoY during CWC quarterAnnual volume growth YoY UBBL CWC edition 2015 No 7.4 7.8 2019 No 10.6 10.2 Time zone favorable to Indians? P&A Volume growth YoY during CWC quarter Annual P&A** volume growth YoY UNSP Consumer Discretionary Segment A Win-Win Proposition After 12 years, the ICC Men’s Cricket World Cup (CWC) is back in India. For the first time, all matches are being hosted in India alone and not the Indian subcontinent. Favourable match timings are expected to boost consumption on TV/digital platforms. Elara Capital expects CWC’23 to generate ~Rs 20-22 billion in advertising revenue on both platforms combined. Karan Taurani, SVP, Elara Capital, sees a 6% CAGR in TV advertising compared to CWC’19. For the digital medium, he expects the CAGR to touch 21% versus 2019 levels. Taurani also expects the consumer discretionary segment to be positively impacted. Swiggy, Zomato, United Breweries, Devyani International, Westlife Foodworld and United Spirits are seen to be key beneficiaries of the overlap between the CWC and the festive season. However, the research firm sees damp prospects for Jubilant FoodWorks due to fragmentation and intensified competition in the segment compared to previous CWCs. By Arjun Yadav Visualisation by Shiv Kumar 07 October 2023 | BW BUSINESSWORLD | 139
140 | BW BUSINESSWORLD | 07 October 2023 At what rate do you think the pharmaceutical industry is growing and what is AstraZeneca’s growth looking like, which areas are the levers for your growth? As per the latest data, the pharmaceutical industry is growing by almost double digits, which is a good sign for the industry. And, for AstraZeneca we have been growing by more than 20 per cent. The Indian pharmaceutical market is clearly seeing some policy changes and we are also seeing “We Want To Be Pioneers In Science” INTERVIEW In an exclusive interaction with BW Businessworld, Sanjeev Panchal, Country President and MD, AstraZeneca India talks about the growing pharma industry, plans for investment in India, expectations from the new drugs bill and new launches for the company By Shivam Tyagi
07 October 2023 | BW BUSINESSWORLD | 141 innovative medicines coming to our country to help more patients. AstraZeneca specifically is ensuring that we bring innovative medicines as fast as possible and our growth actually is driven by bringing those innovative medicines to India. For us the growth is coming from a wide therapy area, we are trying to become a more specialist organisation. We bring innovative medicines especially in oncology and previously we have been launching new products in lung cancer but now we are also bringing drugs for gastrointestinal cancers as well as for breast cancer. We have recently announced our entry into rare diseases with a new launch this year and we also got approval for a heart failure and chronic kidney disease (CKD) treatment. As we go ahead we are also looking at biopharmaceuticals in respiratory and immunology. We have our biologics which are for severe asthma, and we also have products for heart attacks. Going forward, how are you planning to grow your product portfolios? The way we want to drive AstraZeneca currently and in the future is that we want to be pioneers in science, which can be oncology, rare disease, biopharmaceutical within cardiovascular, renal and metabolism (CVRM), and also in respiratory and immunology. We understand the unmet needs in India and then address that with a specialist disease area. While more products will be coming in oncology, in future we will have more products coming even in biopharmaceuticals, vaccine therapies and immunology. What does India require to make innovative medicines of its own? Why do you think the average R&D budgets in India are not moving up? India’s environment is becoming more conducive for R&D and we have seen that innovative medicines have been coming from multinational companies to India. It’s not at the pace which we would want of course, but I clearly see progress is being made, what we saw in the Chandrayaan 3 mission is a great example. But I believe it needs to come that fast into the pharmaceutical industry as well. We need cutting-edge research infrastructure and stateof-the-art technology coming into India and it’s also important that we have more public-private partnerships, and we work together to bring innovation to India. We need to ensure that we partner a lot to bring from the lab to the patient. For example, AstraZeneca has its open innovation platform called A.Catalyst Network - a global network of more than 20 health innovation hubs of the company. For AstraZeneca, globally we did US$ 44 billion in sales in 2022 and we put almost 10 billion back into science. So the way we spend as a company globally in R&D is very critical. The government waived GST from a rare disease cancer drug recently and also reaffirmed that patients can import rare disease drugs for personal use without paying GST. What is your take on this? I would say it’s a welcome move as it is a big relief for patients who are fighting such life-threatening diseases. But we also hope that this could be extended to benefit more patients, not for one drug but for more drugs for cancer and other rare diseases. If we can do this exemption beyond personal use import alone, then this would help us to bring access to rare diseases and cancer medicine to more patients. The New Drugs, Medical Devices and Cosmetics Bill has been in the works for a while now. What are your “We understand the unmet needs in India and then address that by a specialist disease area. While more products will be coming in oncology, in future we will have more products coming even in biopharmaceuticals, vaccine therapies and immunology” Photograph by Panama7
142 | BW BUSINESSWORLD | 07 October 2023 expectations in terms of regulation or what would you say the industry’s expectations are from the bill? I think we still need to wait to see how the bill comes up in the parliament. And we know that the existing law is an 80-year-old Drugs and Cosmetic Act of 1940 and Rules of 1945. So first, we need to see the new bill then only I can comment clearly but we expect that the bill will bring a new regulatory framework for medical devices. We also expect stricter quality control and more transparency in the approval process, which is very important for India as this will help more patients get high-quality standard drugs. I think there should be a more regulated environment as it will bring more trust to the pharma industry and raise the overall profile of the Indian pharmaceutical industry across the world. What are your plans in terms of investments in your portfolio going forward? How much will AstraZeneca India invest in it? Our investment in India is across different areas of our enterprise. We have a commercial organisation, which is led by me and then we have operations in which we manufacture some of our products here or bring bulk tablets to India and do the packaging. We also have a clinical trial team and we are making a huge investment there to bring more clinical trials to India so that we understand local unmet needs across the therapy areas. The second part is because we’re doing clinical trials in India, it gives us an opportunity to launch our drugs much faster, innovative medicines, so just to give you a number, we are planning to bring in more than 15 new launches in India between 2023-25. As of now, five of them have already received approval from the Drug Controller General of India (DCGI) this year. India is an important market for us and we are excited that we can help to bring innovative science to patients where we can make the most meaningful difference. Then there is the R&D and we are working on expanding the R&D footprint in India. Also, we are making a big investment in our innovation and technology centre. Overall, this will generate opportunities for employment in our country. Any drug that seems promising to you and might turn out to be very good for the organisation going forward? One of the drugs is a cancer drug, trastuzumab, which is used for the treatment of metastatic breast cancer. I think that there is a high unmet need in India when it comes to medicines for metastatic breast cancer and we believe that trastuzumab could really help the number of patients in India. We are also working on one of the diabetic drugs, which can also be prescribed for heart failure, which is again a disease burden problem in our country. So these are quite exciting developments which will help in the effective treatment of patients. INTERVIEW “We are planning to bring in more than 15 new launches in India between 2023-25. As of now, five of them have already got approval from the Drug Controller General of India (DCGI) this year” “Globally we did US$ 44 billion in sales in 2022 and we put almost 10 billion back into science. So the way we spend as a company globally in R&D is very critical” Photograph by Nickondr
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144 | B W BUSINESSWORLD | 07 October 2023 The fourth edition of BWSustainabilityWorld.com’s Sustainable World Conclave witnessed India’s leading sustainability business leaders discuss the most pressing issues around the path towards sustainability and decarbonisation. The Conclave also honoured Samir Shah of Peak Sustainability Ventures with the BW Sustainability World Sustainable Business Leader of the Year award By Team BW PHOTO ES SAY: SUSTAINABLE WORLD CONCL AVE Opening Address: Harbinder Narula, CEO, BW Healthcare & Wellbeing World Viswanath P.S., MD & CEO, Randstad India BREAKING GROUND FOR A GREENER TOMORROW
07 October 2023 | BW BUSINESSWORLD | 145 Harbinder Narula, CEO, BW Healthcare & Wellbeing World with Lokesh Prasad, MD, AliveCor Samir Shah, Managing Partner, Peak Sustainability Ventures Panel 1 (L-R): K. K. Sharma, Whole Time Director - EHS, DCM Shriram; Ramnath Vaidyanathan, Associate Vice President - Godrej Good & Green, Godrej Industries Limited & Associated Companies; Rahul Prithiani, Senior Director & Global Head - Consulting, CRISIL Market Intelligence and Analytics; Akilur Rahman, Chief Technology Officer- Hitachi Energy; Santosh Kumar Singh, Head - Adani Energy Sustainability Group
146 | B W BUSINESSWORLD | 07 October 2023 Panel 2 (L-R): Bhalinder Singh, Senior Business Manager, IBM Sustainability Software, IBM Technology Sales Business Unit; Abhejit Agarwal, Head - Sustainability & CSR, Axis Bank; Manish Kumar, Head - ESG & CSR, ICICI Bank; K. Ganesh, Senior General Manager - Corporate Affairs & CSR, Bisleri International Panel 3 (L-R): Piyush Saxena, SVP Cloud Business and Offering Management, HCLTech; Chaitanya Kalia, Partner and Climate Change and Sustainability Services Leader, EY India; Gayatri Chauhan, Founder and CEO, BuzzOnEarth; Nagesh Kartheek, Director of Engineering, Amadeus; Sudha Srinivasan, CEO, The/Nudge Centre for Social Innovation; Sathish Seshadri, Global ESG Leader, Genpact PHOTO ES SAY: SUSTAINABLE WORLD CONCL AVE
07 October 2023 | BW BUSINESSWORLD | 147 Panel 4 (L-R): Narayan P. S., Global Head, ESG and Managing Trustee, Wipro Foundation; Tammy Ben-Haim, Consul General, Consulate General of Israel to South India, Bangalore; Paneesh Rao, Chief Sustainability Officer, LTIMindtree; Tania Chatterjee, Director - Head of Sustainability, NatWest Digital Service, India; Wilma Rodrigues, Founder and CEO, Saahas Zero Waste; Sudhir Mishra, Founder & Managing Partner, Trust Legal, Noted Environmental Lawyer Panel 5 (L-R): Harbinder Narula, CEO, BW Healthcare & Wellbeing World; Abida Aneez, Vice President - CSR & Sustainability, Group Legrand India; Alok Verma, Head of Corporate Strategy & ESG, Ashok Leyland; Sridhar L., Head Sustainability, Bangalore International Airport Limited & Governing Council Member, UN Global Compact Network, India
148 | B W BUSINESSWORLD | 07 October 2023 Samir Shah, Managing Partner, Peak Sustainability Ventures being given the BW Sustainability World Sustainable Business Leader of the Year award Angelo George, CEO, Bisleri International Chief Guest Address: Shri K .J. George, Hon'ble Energy Minister, Government of Karnataka PHOTO ES SAY: SUSTAINABLE WORLD CONCL AVE