No. PR – 190
January 20, 2022
“India’s economy is set to achieve greater heights due to the rapid innovations happening.” – Dr. Bhagwat Kishanrao Karad Ji, Hon’ble Minister of State (Finance), Department of Financial Services, Ministry of Finance, Govt of India
The PHD Chamber of Commerce and Industry organized Retail CFO Conclave on 20th January 2022 to bring together CFO’s and business heads for deliberation on empowering the New mandate for Next-Gen CFOs for Driving Performance and adding Business Value with new tools and technologies and discuss their significant role in executing transformations.
Mr. Anant Agrawal, Vice – Chairman, MMG Group informed that CFO’s focus has shifted toward crisis management and away from longer-term responsibilities such as strategic leadership, organisational change, and finance capabilities. But the results also point to a way forward for CFOs and their companies, as more industries and economies move toward recovery—suggesting the degree to which finance leaders can have more impact in key areas
Mr. Pradeep Multani, President, PHDCCI mentioned that a retailer’s brand promise relies on delivering goods to the customer at a given level of service, and this responsibility now falls on CFOs more than ever before. While the task may seem daunting, the answer may lie in the inventory itself and finding ways to make it work harder. With the right inventory visibility and analytics and bearing these new rules in mind, CFOs can optimize their stock and drive equal sales with less inventory.
Dr. Bhagwat Kishanrao Karad Ji, Hon’ble Minister of State (Finance), Department of Financial Services, Ministry of Finance, Govt of India highlighted that The covid-19 pandemic and other environmental factors have impacted every sector across the world adversely despite these challenges India’s economy is bound to grow at a much faster rate due to the rapid innovations happening.
Mr. Sumeet Abrol, Partner, Lead Advisory, Grant Thorton mentioned that in today’s time the role of CFO is constantly expanding. They now act as the key enablers as well as leaders of corporate strategies. Significant innovations and investments are required to bring in more seamless consumer experiences in the omnichannel section.
Mr. Rajnish Magan, CFO, Beumer India said that there must be a sustainable and well-devised plan for monitoring the cash burn and their respective sources. He also added that it is due to the many technological advancements it has become much easier to track consumer behaviour and patterns that in turn helps to create a better consumer experience.
Mr. Mukesh K Lakhotia, CFO, Godfrey Phillips India Ltd mentioned that any company today cannot stay aloof from the online section and that is where the importance of omnichannel presence. Using digital tools to establish a better connection with the consumer based on data is crucial.
Mr. Vijay Vaishnav, CFO, Eros Now highlighted that earlier there was no concrete measure or tool in place to assess the audience response or demands but with the OTT platforms, it is much easier to assess the demands of the audience. OTT apps are able to collect valuable consumer data in real-time which has enabled hyper-personalization.
The webinar was moderated by Dr.Yogesh Srivastav, Assistant Secretary General, PHDCCI & the formal vote of thanks was presented by Ms. Amisha Jain, Co-Chair, Retail Committee, PHDCCI
The webinar was supported by ZIMAVE and Multani Pharmaceuticals Ltd; Star Wire ; P G Industry; Uflex Ltd; DLF Ltd; Continental Carriers Pvt Ltd; Belair Travel & Cargo Pvt Ltd; Radico Khaitan Ltd; Jindal Steel & Power; MMG Group
Paramount Communications; Superior Industries Limited; JK Tyre & Industries Ltd. ; SMC Investments and Advisors Ltd.; Crystal Crop Protection Ltd.; Sagar Group of Industries Comtech Interio; R E Rogers; AYUSH Herbs Private Ltd; Apeejay Stya Group; DCM Shriram; EaseMyTrip; Blossom Kochhar Beauty Products Pvt Ltd; Oswal Greentech; Trident Group; MV Cotspin Ltd; Synergy Environics Ltd; Ajit Industries Pvt Ltd; P S BEDI & Co.; Indian Farmer & Fertilizers Corporation Ltd; Jindal Steel; Hindware Sanitary; Modern Automobiles; Livit Ltd.; Axa Parenterals; Bhagwati Plastic and Pipes Industries; J K Insurance Brokers Ltd.; DD Pharmaceutical Ltd
PHD Chamber of Commerce & Industry