Industry

HUL sets up council for digital transformation

Sajiv Mehta.

Sajiv Mehta.  

Have 5-pronged strategy to thrive in new world, says CMD

FMCG major Hindustan Unilever Limited (HUL) has set up a council for digital transformation.

“It comprises a cross functional team of leaders, who are designing and landing the agenda of Reimagining HUL,” Sanjiv Mehta, CMD, HUL informed the shareholders at the company’s annual general meeting. .

Currently, more than 80 experiments are under way in the business to accelerate HUL’s journey in digital transformation.

Mr. Mehta spoke about how HUL had created a full-fledged, end-to-end, digital transformation programme that would redefine the ways of working, going forward.

Elaborating, Mr. Mehta said, “With the world changing at a furious pace, HUL is continually adapting to remain future-fit. The company will continue to leverage Unilever’s global knowledge and HUL’s deep local understanding to serve Indian consumers better – be it through path-breaking innovations or expertise in new channels.”

HUL has charted out a five-pronged strategy to continue to thrive in the new world. “We have a five-pronged strategy to continue to thrive – drive purpose into our brands and enhance societal impact, build a future-fit organisation, nurture talent in the new age, innovate for the future, and reimagine the business across the value chain by leveraging data and technology,” said Mr. Mehta.

On India’s rising prospects, Mr. Mehta envisioned a scenario wherein if India can bend the growth curve and deliver a consistent growth rate of 9% and above, the country could transform itself to a $10-trillion economy by 2032 and catapult itself into the upper echelons of middle-income countries.

On the fast moving consumer goods (FMCG) sector, Mr. Mehta said the economic growth and technological changes provide an exciting future for the industry. He said, “Despite being one of the fastest growing markets globally for FMCG products in recent times, the per capita FMCG consumption spend in India is amongst the lowest in the world, giving the sector a long runway for growth. Key factors like rising affluence, changing family structures, growth of emerging cities and a young working population will positively impact the growth of the FMCG industry.”

On re-shaping human capital, Mr. Mehta said, “Re-skilling of our workforce will become a national priority. Machines will augment human cognition and it will be imperative for companies to optimally leverage human plus machine at the same time.”

Mr. Mehta concluded his speech by reiterating the company’s focus on reimagining itself from the lens of portfolio, organisation, capabilities and culture. “We are clear that we do not want to simply follow, we will lead the change. Destiny beckons India and Hindustan Unilever.”

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Printable version | Feb 21, 2020 2:30:11 AM | https://www.thehindu.com/business/Industry/hul-sets-up-council-for-digital-transformation/article28229969.ece

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