Frost & Sullivan’s First Ever India Intelligent Mobility Summit Headlines Innovation, Growth Opportunities, and New Business Models
- By NewsOnFloor Staff
- Sep 13, 2019
- 110 views
Frost & Sullivan concluded the inaugural edition of its Intelligent Mobility 2019 in India on 11 th September at Le Meridien, New Delhi. The Summit brought together leading experts and visionaries to envisage the next wave of innovation emerging in India’s dynamic mobility space.
The event kicked off with a power-packed keynote session on ‘The Future of Mobility: Transformational Shifts and Growth Opportunities in India.’ The wide-ranging discussions highlighted the importance of transitioning from traditional linear value chains to interlinked, multi-dimensional value ecosystems, optimizing data intelligence, and creating appropriate roadmaps for data monetization. While reiterating the need for electric vehicle development, the session also emphasized the need for government and industry stakeholders to work in tandem to boost the entire mobility industry.
Talking about the future of mobility in India, Sarwant Singh, Managing Partner, Frost & Sullivan, said, “Much like in the rest of the world, technology has changed the rules of engagement in India’s mobility industry. The future will be defined as much by collaboration as by competition. Stakeholders—private and public, automotive and non-automotive, manufacturers and service providers—have to come together with a common sense of purpose to drive transformative growth, nurture innovation, and create value. A siloed approach will no longer work, instead, what the Indian mobility industry needs is to work towards a future that is smart, sustainable, safe, and seamless.”
Among the high-profile speakers at the Summit included:
- Shri Pravin L. Agrawal, Joint Secretary, Department of Heavy Industry, Government of India
- Anil Srivastava, Principal Consultant & Mission Director, National Mission on Transformative Mobility & Battery Storage, NITI Aayog
- Nikunj Sanghi, Chairman, Automotive Skills Development Council – ASDC
- Nagesh Basavanhalli, MD & CEO, Greaves Cotton Limited
- Pankaj Jhunja, Head of Mobility Services, Tata Motors
- Ramashankar Pandey, Managing Director, Hella India Lighting Ltd.
- Kannan Chakravarthy, Head – Smart Sustainable Mobility Solutions, Mahindra & Mahindra Ltd.
- Nandini Maheshwari, Head, Business Development, Uber India and South Asia
- Karan Jain, Co-Founder, REVV, to name a few.
As one of the speakers at the keynote session, Shri. Pravin L. Agrawal talked about new business models and the rise of electric mobility in India. He emphasized the potential for retrofitting old models with electric drivelines, developing range extenders, and designing new business models for last-mile connectivity and shared mobility. Anil Srivastava spoke about the importance of multimodal connectivity, the government initiatives being undertaken to create a supportive regulatory and infrastructural environment, and the need to develop mobility technologies suited to the Indian ecosystem. In a special video message, Gautam Hari Singhania, Chairman and Managing Director, Raymond, made a case for reducing the heavy import duties on the niche supercar market. Bringing up the news blaming the 'millennial mindset' for using ride-hailing services such as Ola and Uber being one of the causes for the automobile industry slump in India, Ramashankar Pandey touched upon asset-light ecosystem and the need for collaboration with non-automotive participants.
The panel discussions at the Summit focused on a range of eclectic themes. These included opportunities for collaborative development of connected, shared, and electric markets in India; the potential for partnerships between automotive companies and non-automotive participants in ecosystem development; vehicle lifecycle management, digital transformation, and new business models. The panelists examined how traditional models of purchase and vehicle ownership have ceded ground to subscription-based models and rental/leasing models. Two key ideas emerged from the discussions on new business models, major trends, best practices, innovative technologies, evolving customer expectations, and strategic responses. The first was the need for greater collaboration, cooperation, and cohesion across various industries and stakeholders, reinforced by greater private-public sector engagement. The second was the critical need for localization and personalization.
Elaborating on this, Kaushik Madhavan, Vice President, Mobility Practice, Frost & Sullivan, said, “There has been a paradigm shift in the Indian automotive market. The one-size-fits-all approach is outdated. The future will be about greater localization predicated on offerings that match particular geographies or local sensibilities; personalization will be made possible by artificial intelligence. In the future, differentiation will come from highly individualized services that will not only take the customer experience to a new level but will also create the groundwork for sustainable industry growth.”
The Summit was followed by Frost & Sullivan’s 2019 India Intelligent Mobility Awards Banquet, which recognized 29 of India’s leading-edge companies who have demonstrated business innovation and excellence in the mobility space. To view the complete list of award recipients, please click here.
The event was supported by our Growth Partners Kreisel Electric GmbH & Co KG and Ridecell. We also have our Media Partners – Autocar Professional, Auto Components India, Auto Futures, Automotive Products Finder, AutoParts Asia, Auto Tech Review, Car India, Commercial Vehicle, ETAuto.com, MOTORINDIA, thenewsmarket.com, and TrafficInfraTech.
Source : business-wire-india