Vivek Bhatia

MD and CEO
Member of the Board of Thyssenkrupp Industries India Pvt. Ltd

Vivek Bhatia is the MD and CEO of thyssenkrupp Industries India Pvt. Ltd. (tkII), a diversified industrial business covering a portfolio of capital goods businesses spanning Mining, Cement, Power Plants & Boilers, Sugar Plants along with a large service business that includes asset management/O&M. tkII has been in existence for over 75 years in the country and is also the largest thyssenkrupp entity in India. Vivek has been Managing Director & CEO of tkII since 1st January, 2019. Passionate about innovation and application of new technologies in industry, Vivek has driven digitalization and sustainability topics aggressively at tkII. Prior to this role, he was CEO Asia Pacific at thyssenkrupp, based in Singapore, driving group activities for all thyssenkrupp companies in the region. Prior to this, he was the Head of Strategy, Markets and Development for the Asia Pacific region, based in Singapore.

Prior to joining thyssenkrupp, Vivek was with The Boston Consulting Group. In 2013, he was awarded a BCG Olympics Gold Medal for the most insightful and impactful client work in the region. Prior to BCG, he worked as a design engineer for refineries and pipelines at Engineers India Limited. Apart from his full time role at tkII, Vivek is the Chairman of Mining, Construction and Equipment Division (MCED) of the Confederation of Indian Industry (CII), member of the FICCI Power Committee, member of the FICCI Bio Energy Committee, member of the National Executive Committee of Indian Chamber of Commerce and member of the National Executive Committee of MCCIA. He is Chairman of the Audit and Risk Management Committees and is a Non-Executive Independent Director on the board of GMM Pfaudler, a listed entity in Indian stock markets.

Vivek has extensive business experience across multiple sectors including mining, metals & mineral processing, oil and gas, renewable energy equipment, power equipment (production as well as T&D), engineered/capital goods, sugar, cement and building materials. He has worked extensively on a range of business topics spanning strategy, operations improvement, organization growth/diversification, joint ventures, PMI, carve-outs, technology licensing/transfers, business turnaround/transformation, working capital management, operations design and re-engineering, organization design and performance management systems.

Vivek holds an MBA (from IIM Calcutta, with a focus on Strategy & Corporate Finance), M. Tech. (Gold Medalist from IIT Delhi in Energy & Environmental Management) and B.E. (with honours from University of Delhi in Mechanical Engineering).

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The Next Gen: DISRUPTION

Economic Disruption: We live in an era of disruption in which powerful global forces are changing how we live and work. Powerful disruptions are changing our world. The gig economy, remote work, and the sharing economy have disrupted traditional employment models. The new generation is often at the forefront of these economic changes, seeking flexibility and independence in their careers.

Technological Disruption: The new generation is witnessing rapid technological advancements and digital transformation. They are at the forefront of embracing and driving these changes, leading to disruptions in various industries. Examples include the rise of blockchain, artificial intelligence, and the gig economy. Frontier technologies such as the Internet of Things, smart robotics, automation, and artificial intelligence are boosting productivity growth, raising prosperity, and replacing mundane or dangerous tasks. They have the potential to do good across a wide range of domains, from healthcare to education

Cultural Disruption: Social movements and changing cultural norms are disrupting traditional societal structures. The new generation is actively involved in advocating for gender equality, LGBTQ+ rights, and racial justice, challenging the status quo and pushing for more inclusive societies. The connection between resilience, equity and inclusion is widely accepted by policymakers: evidence has shown that creating more equitable and inclusive societies is a crucial part of any economic strategy focused on resilience and recovery.

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The Next Gen: DEVELOPMENT

Skill Development: The new generation places a strong emphasis on personal growth and development. They prioritize continuous learning, self-improvement, and mental well-being. Tools like online courses, self-help apps, and social networks play a significant role in their development journey. It is important to have a conversation about how to begin closing the gap between what our students are learning and what the demands of the workforce will be once they enter. Half of us will need to reskill in the next five years, as the "double disruption" of the economic impacts of the pandemic and increasing automation transforming jobs takes hold.

Sustainable Development: This generation of leaders bears the responsibility of preserving and advancing the legacies of their businesses while actively championing sustainable practices across businesses, governments, local communities, and personal lifestyle changes to secure a brighter future for the planet. Sustainability, the buzzword across the world today, will have to take on a new avatar and become the soul of every organization - business or otherwise. Businesses cannot succeed in societies that fail.

Social Development: The next generation is deeply rooted in creating positive change in society by incorporating CSR, promoting digital literacy, improving access to quality education, and supporting public health initiatives. Smart living is about adapting the fruits of technology through models that are scalable, profitable and, importantly, ecologically and socially more sustainable.

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The Next Gen: DIVERSIFICATION

Geographical Diversification: The prime focus of the new-gen leaders will be on a geographic diversification strategy, either domestically or internationally, aiming to integrate its products and services as a routine in consumers’ lifestyles. This will mitigate the risks associated with regional economic fluctuations. In an interconnected world, diversity, shaped by globalization and technological advances, forms the fabric of modern society.

Business Diversification: The strategic expansion and diversification of businesses with investments in newer business avenues, will enhance the return on investment, reflecting the forward-thinking approach of the next-generation leaders' eagerness to innovate. Companies are discovering that, by supporting and promoting diverse products and services, they are gaining benefits that go beyond the optics.

Workforce Diversification: To achieve geographical and business diversification, the next generation of leaders will aim at prioritizing workforce diversity, to boost job growth and create together a multitude of ideas and perspectives, igniting innovation and creativity. In times of increasing disruption and uncertainty, companies need to continue to prioritize diversity and inclusiveness (D&I) for the benefit of their culture — and their bottom line.

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