Innovation is bringing new ideas into play, can happen in both PSUs, India Inc: Nandan Nilekani

The words innovation and disruption are synonymous with technological advancements. And the words ‘tech’ and ‘techie’ conjure certain images in our minds. But that shouldn’t be the case, according to Infosys co-founder Nandan Nilekani.

Speaking at an All India Management Association event recently, Nilekani said, “We think that innovation is about 23-year-olds wearing hoodies doing things. But the innovation in India is happening by everyone at all levels.” He recalled a lecture he had given on fintech in Bengaluru in 2015. “I asked all the techies if the incumbent banks will win or challengers like them will.... They [the techies] were convinced that incumbent banks won’t be able to adapt,” Nilekani said.

Incidentally, one of the evening’s winners was Aditya Puri of HDFC Bank, an organisation that qualifies as an incumbent bank here. He said that the techies were unaware that Puri had visited the Silicon Valley and was studying all that was happening technology-wise in the space. The import of Nilekani’s message: innovation can happen “in the public sector, in the private sector, whether you are young or old. It really doesn’t matter. It is the mindset of bringing new ideas into play”.