Special address by CP Gurnani, MD & CEO, Tech Mahindra, and Chairman, NASSCOM

The NASSCOM honcho enthralled all with a succinct and engaging speech. He said that entrepreneurship, retail and shopping have always been part of our DNA. These days digital is disrupting; technology has made Amazon and Flipkart what they are now. Technology has become all pervasive. It is indispensable for both online and offline retailers. Technology is creating knowledge, allowing retailers to have insights into the consumers’ behavioral pattern.

The new disruptions are coming from startups. And their services can be availed at lower costs. Technology is the differentiator allowing the retailers to have overall better performance in the market. There is need for startups to crowd source ideas. Retailers have to adapt to this new ecosystem where startups dominate. Today, retail is about product, technology and reaching out. They have to decide how they will use technology to expand, increase operational efficiency, productivity and profits. There is a need to correlate with the use of new business and to do so one has to redefine the business. There is a requirement for working on stretch goals to make the business relevant and sustainable.

By Suranjana Basu