Indian Ecommerce Market Likely To Hit $350 Bn By 2030: CVL Srinivas, WPP India

Leaders should be a creative problem solvers with collaborative efforts. They also focus on being a catalyst for change and being able to mentor other colleagues. For a leader and company, being credible is one of the most important things, said CVL Srinivas, Country Manager at WPP India.

 He gave a talk on "Pushing India to the top and what will be the role of future leadership." 

He further said, "Recently, we overtook the UK and became the fifth largest economy in the world. We seem to be on track to be a 10 trillion dollar economy by 2030, and I don't think there is any market that will grow in the next 5-10 years like India. India is the land of opportunity. " 

In terms of digital infrastructure, some numbers are mind-boggling. There are 800 million smartphones in India today, and in the next few years, there will be more than a billion smartphones, he added. 

While citing reports, he said that government initiatives like biometrics to UPI and open network for digital commerce (ONDC) are going to boost digital growth. The Indian ecommerce market is already worth USD 75 billion, and some estimates say that it will hit USD 350 billion by 2030. 

According to him, 20-25 years ago India was seen as the back office of the world when a lot of IT companies started to take off, but today we see the shift. In the last two decades, we have taken the place of the innovation capital of the world, rightfully. This was made possible because of our entrepreneurial spirit and solid support from the government side. 

He also listed some challenges that the market is facing, like the challenge for indigenous companies to match the international quality and customer experience of international companies, while the adoption of technology in a way that benefits society at large is another challenge.

Maintaining diversity and inclusion are also big challenges, according to him. 

He gave the mantra of 5C to future leaders that may help India to become a truly corporate India. This 5C is being creative, being a catalyst, being collaborative, credible, and able to coach others.