Mumbai – India's future industrial growth hinges critically on its capacity for indigenous design, research and development (R&D), and innovation. This was the central message delivered by prominent women leaders from the electric mobility and defence technology sectors at Business Today’s Most Powerful Women (MPW) event in Mumbai.
The panel discussion, titled “Building What India Needs,” featured Suman Mishra, MD and CEO of Mahindra Last Mile Mobility; Shilpa Choudari, whole-time director of Zen Technologies; and Rekha Murthy Rangarajan, whole-time director of Data Patterns. They collectively emphasized that homegrown technologies, resilient supply chains, and globally competitive products are essential for India to assert itself on the global stage.
Prioritizing Design and R&D for Defence
Shilpa Choudari of Zen Technologies, a defence technology firm, underscored the paramount importance of owning product design, especially in the rapidly evolving landscape of drone warfare and advanced electronic systems. “Unless we own the design, we will never be able to put India on the global front,” Choudari stated, highlighting her company's foresight in investing in anti-drone technology since 2018.
She also advocated for stronger collaboration between industry and academia to address skill gaps in critical areas like artificial intelligence, robotics, and embedded systems, which are vital for future defence capabilities.
Echoing this sentiment, Rekha Murthy Rangarajan of Data Patterns argued that Indian companies must develop products with global markets in mind, rather than solely focusing on domestic needs. She stressed the necessity of sustained investment in R&D, noting the rapid technological obsolescence prevalent in defence electronics. Building adaptable systems and robust domestic supply chains will be crucial for maintaining technological competitiveness.
Economic Drivers for Electric Mobility
In the electric mobility sector, Suman Mishra of Mahindra Last Mile Mobility highlighted the commercial viability of indigenous innovation. She pointed out that economics is increasingly driving the adoption of electric three-wheelers, with electrification in this category already reaching approximately 50% due to lower running costs compared to conventional fuels.
Mishra also emphasized the need for electric vehicle businesses to remain sustainable as government subsidies are phased out. This requires differentiated products, stringent cost management, achieving economies of scale, and continuous R&D investment to navigate commodity price fluctuations and supply chain volatility.
The Path to True Self-Reliance
A common thread across both sectors was the challenge of translating India's manufacturing prowess into technological ownership. While domestic policy support has created opportunities, true global competitiveness will demand proactive investment in innovation, talent development, and the establishment of resilient supply chains.
The panellists concluded that India's self-reliance cannot be measured solely by its manufacturing output. The nation's next phase of growth depends on whether Indian companies can develop original technologies, build commercially sustainable products, and establish themselves as reliable suppliers to the world, thereby cementing India's position as a global leader in innovation.