 Next, keynote address, which is by Mr. Kishore Jairaman, President India and South Asia Rolls-Royce. Since taking over the role eight years ago, he has been instrumental in driving strategic focus and significant expansion across the Rolls-Royce defence, civil aerospace and power system businesses. Prior to joining Rolls-Royce, he held diverse leadership roles across markets at GE for 23 years and his last assignment was as President and CEO of GE Energy South Asia. We will hear him talk about business resurgence and the future of sustainable alternatives. Ladies and gentlemen, join me in welcoming Mr. Kairaman. Very warm welcome to you. Yeah, hi. I don't know if I'm online yet. Thank you. If you guys can hear me well. Okay. Great to be here. And at the onset, my sincere thanks to Anurag, a good friend of mine, and to the exchange for media team for having me here. It's always a pleasure to be here and share some thoughts with you all. And as we go through this topic, I just looked at the topic and it's actually two topics there for me. And the first one is about business resurgence and the second one is about sustainable alternatives. And both of these topics are very close to us at Rolls-Royce and definitely on a personal level is very close to me. And if you look at these topics like business resurgence and we look into it, it is just the first thought that came to my mind was about the new normal that will come about our way after the pandemic. And I think in some ways in our lives, the previous generation probably had Indian independence, probably had World War, etc. My previous generation probably had those as probably very major events in their life. And if we look at a major event in our lives today, I think the pandemic will be yet by any stretch of the imagination. There have been many, many events, many, many incidents that have changed the shape of how people behave, of how markets behave, of how countries behave and no one has tested in the last 30 years as COVID has in the present time. Now leaders emerge out of these sort of pandemics or out of these calamities and leadership emerges as a result of them. Businesses in order for them to succeed after a pandemic like this will have to be very agile. And by agile, I mean have the ability to respond with pace. And we will talk a little bit more about it, but I think it's got to be the pace at which businesses will adapt themselves. Now that brings up adaptability. Another term that I strongly believe has become the new normal. And it is about the way companies, the way organizations and the way leaders and individuals sort of move with pace to change. So if organizations and companies are not agile and do not adapt quickly, they will not exist. Businesses were there for about 50 hundred years, if you look at it, before they had to reinvent themselves completely. And over the last 30 years, businesses had to re-adapt or reinvent themselves every 15 years. And I think as we look into the future, businesses will have to reinvent themselves over a couple of years. Now, when you have these couple of years period, it seems like, yeah, there's time. But if you look at when the pandemic happened, as we speak today, it's been a year. And nothing has changed. Over the last year, the vaccines have just rolled out. Not everybody has got a vaccine. States, cities, countries globally still don't know if the virus is mutating, if the vaccine will work for it. You still have so many unknowns. And so the resurgence of businesses will happen in an environment of a lot of unknowns. And so it's going to be very important. We can't even predict what's around the corner. But what we can do is make our business that much resilient, that much robust, that whatever comes around the corner at us, we either can move and avoid it, we can adapt and accept it, or we should be able to quickly figure out a new plan after the impact has happened to recover. So in these three, you know, in this kind of a three scenarios is where the whole life is going to be with a new resurgence of business. And as we talk about it more global was the mantra, right? The world is flat. We have all read the book. And Tom Friedman was very, you know, very adept at explaining to us how things have changed and how things have evolved. And when we look at the global environment emerging, and I remember this at the beginning of my career, about 30 years back, when it was all about China building, it's about Asia building, it's about emerging markets, it was all these things local, India was very local. Before 1991, we were very local. We have very strong systems that only promoted domestic markets with domestic companies, a lot of restrictions. So there was a global building that was a local and countries had to adapt themselves at that time to become more and more global. And now it's interesting, because in the new normal, this global is becoming more local. And the local is happening, they all want to be global because they want to export. So every country wants to export, but they all want to restrict imports as much as possible so they can have a domestic market and domestic companies. So the local is taking a lot more prevalence in a very global environment. And a new term for the new normal there is global. So you want to be global and you want to be local, so global. But what does this all mean? And if businesses don't understand economics, businesses don't look at the evolution of the world and the markets that's happening. I think businesses are going to find themselves in a very tight spot as they come into the recovery phase. Things are going to be very, very different. But what is that different? Like I mentioned a couple of times before, we don't know very surely yet. Markets are at an all-time high. Are these, is this real? What happens if the markets have another meltdown like in 2007 or 2008? What happens if there is some terrorist event like in 2001? Nobody knows. But companies have to understand all this. Economics is going to be the key. Strategies are going to be based on global economies and economics. So I think that is the business research and thoughts I wanted to leave with you. A couple of key things, agility and adaptability. Global. I think that's going to become a new normal. The third new normal is going to be based on technology. It's going to be based on trust. It's going to be based on talent. These are not new terms. These are not new words. These have been there. But each of these will have a different meaning. Technology today, normally I have only given speeches like this physically present there. But over the last year, I've done many, many speeches like this on Zoom, on Microsoft Teams, on Google Duo. Now today I learned something new with StreamVR. So it keeps changing and your devices have to adapt them very quickly. But the underlying thing is that the foundation has to be based on information technology. But not only those technologies. We are looking at a new world, which I'll talk about it in a little bit on the Sustainable Alternative. That is also technologies. So technology is the key. But to do these technologies, you need the right talent and talent needs to come not just from knowledge with books, with theory. Talent needs to come with the ability to use the knowledge and gain new experiences. Knowledge plus experience to be is wisdom. And I think over a period of time, people become wise. If they're able to understand, knowledge is so much. You got it. Now experience is something you have to get. Wisdom is achieved. Wisdom in my probably generation may be said 20 years. My previous generation, maybe it was 50 years. The next generation, wisdom is going to be expected within five or 10 years. And then it's going to be going to increase from there. So I think we need to understand that talent is the key. The last but not the least, definitely is trust. You've heard about trust from a previous speaker, Mr. Kumar. And I think trust is a very important phenomenon that's going to happen as we go forward. Trust between employees, trust within organizations, trust within countries, name it. It's going to be there. And so we need to make sure that it is there in the business resurgence phase that we're going to be in. Now talking about sustainable alternatives, everybody's talking about net zero economies. Net zero economies are going to be the way of it. In my simple world, pre-COVID, in Delhi, how do we manage pollution? PM 2.5, nobody even knew what PM 2.5 was. We became experts at it. AQI became an app. And then when COVID came, traffic stop, lockdown happened for two months. I've never seen the air more pure. It is clearly an indicator that industry's growth has had an impact on the environment. India is way ahead of it by participating in the Paris protocol before. And by making sure that we are into renewables, by making sure we give incentives to go into electric vehicles. The Delhi government recently has come up with new incentives that promote electric vehicles. But there are three things we need to know, which is going to be extremely important in order for the sustainable alternatives to sustain themselves. And those three, the first one would be accessibility. Accessibility to these technologies. If you have an electric car or an electric vehicle, do we have enough charging for it? That's going to be number one. But do we also have the ability or the security that the materials that are needed in order for the batteries to be made in India are going to be available in a sustainable barrel for a very long period of time? Number two, in terms of accessibility, it is also very important to note, if electric vehicles come, if charging comes and the charging points are using fossil fuels, what is the arbitrage that happens that becomes a sustainable alternative? That's also very important. When we go to electric aircrafts and Rolls-Royce, we talk about electric aircrafts as the future, but there's an intermediate step of hybrid. It is not going to take away gas propulsion or fossil fuel propulsion in the very near-term future. But if you start today, we can achieve the net zero economy at a certain time that we set ourselves to do it. Then we accelerate that time. And that's where leadership comes in in that area, is to accelerate that time period. The cognizance to this exists everywhere. But for this to become sustainable, I think it has got to be communications. It has got to be knowledge for everyone. It has got to be talent available everywhere. And it has got to be wherein people understand why they need to do it. It has to be a state of being. It cannot be, like somebody says, you got to do it. It never happens. It has to be a state of being. The second one is acceptability. And that's where the state of being concept came in. And so you have the accessibility, then you have the acceptability. And the acceptability is where communications plays a key role. And this is where the state of being comes in. And last but not the least is affordability. If none of these are affordable, people are not going to use it. Look at solar technologies today. They have come, I remember when I was promoting solar, probably about 10 years back, the price compared to wind was extremely high. And wind was extremely high. And then the price compared from wind to fossil fuels was extremely high. I remember India wanted to have 2 rupee power. Today solar is about 2 rupees. So how did that happen? It's all technologies. It is all the acceptabilities that have come about. It is all the incentives that drive the motivation that has been provided to everybody in every industry. So at the end of the day, we can never forget affordability. And it's extremely important that with these three things, accessibility, acceptability, and affordability, sustainable technologies, sustainable alternatives are here to stay. The mandate is already out there, net zero economy. But this is what will help us achieve that. Now, in terms of full choice, a little bit about in both these areas, I think business resurgence, needless to say, we had to protect ourselves, we had to preserve ourselves, and we need to make sure we position ourselves. Never we can forget that there is a future. We are into long cycle technologies in our aerospace business. But we also have short cycle technologies in our power systems business. But it doesn't mean we cannot keep thinking about a net zero economy and moving in that direction. We are looking at microgrids as a way of the future. It is here to stay. Utilizing the best form, best source of energy is here to stay. So pioneering the power that matters in the responsible manner is very important for us at all strikes. But lastly, I want to wrap up right here and saying that communications is going to play a very key role. And people who are here in this session, you are going to be the future. You are going to be the way forward. Because conversation is going to be extremely important on all these topics. And conversation creating a buzz around it, making sure that people are constantly involved, asking questions, and thinking about it is going to be very important. Now, I remember our honorable Prime Minister during his first term long before said this. And he said, perform, reform and transform. Absolutely. And then he changed it after about six months of the year. And he said he added the word inform in there. So I will leave you with this thought in form. And let us perform, let us reform, let us transform while we are in form. Look, once again, thank you so much for this opportunity. It was a privilege to be here with you all. And I really hope that I was able to give you some points to take back with you and ponder over. Thank you. Thank you so much, Mr. Chairman. It was a pleasure for us to listen to you, share your thoughts, your journeys and insight with us. Thank you so much for being here. Our audience have greatly taken on with this conversation, some key takeaways that they're mentioning. So thank you once again for your time.