Mediaboss Marketing

At the launch of the e4m-Dentsu advertising report 2022, A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited, delivered keynote on Being Future Ready.

He began by highlighting the emphasis that the central government has placed on digital in Budget 2022 and how it is building a massive digital infrastructure.

The Budget has emphasized a lot on digital and that is something the government has been doing for some time, especially over the last seven to eight years. Right from Aadhar to UPI and all the way to GST, which is still evolving, there are many areas where the government is creating a digital infrastructure and creating a mindset of how India has to move forward.

There are two things that have changed the adoption of digital. One is when demonetization happened and people realized that there is no choice but to use UPI-based platforms for banking and that created a revolution in the entire industry. Second, the government has allocated such huge resources for making India go digital. If you look at the Indian villages, the digital adoption is far higher, and it comes on the back of the way digital infrastructure is being built for the country,, he added.

Balasubramanian also spoke about how India is clearly the winner in digital space despite the fact that we adopted things late compared to the global economy.

We are definitely the fast learners. This I learnt when the telecom industry was getting into the country. Definitely, the adoption of telecom in India has been far superior and faster than what you have seen in the US, Europe and China. This adoption is becoming impactful across sectors like education, ecommerce , electric vehicles etc.

Digital adoption is an ongoing thing. The digital way of running the business will be the key and that is why we have created the mindset and the right user experience, he said.

Sharing his thoughts on how digital has transformed the media landscape, Balasubramanian added, I do get involved in decisions about building brands in new age technology environment. Clearly the way media business runs from print to TV to digital, the digital medium seems to be the growing platform form the point of view of creating awareness about a product and creating visibility for the brand.

He also shared that given the fact that India is a diverse multi-lingual country, the adoption of digital technology has addressed this complexity easily.

Reaching out to customers at regional levels has also become a key part of digital strategy. India has now transformed the entire digital world. Also, the regulators are becoming forward looking in building an enabling environment for businesses, he shared.

Sharing his thoughts on the often discussed data privacy Balasubramanian said that data privacy is something where the regulatory frameworks are clear about what kind of data privacy one should have and what kind of data one can share.

However it will remain an evolving process, he empahised.

When asked how Digital India can reap dividends for rural population where a lot of economic activity lies, Balasubramanian said that the rural economy is now prominently on the digital map owing to the mass adoption of smartphones and digital payment platforms enabling it to benefit from the opportunities that Digital India presents.

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Digital way of running business will be the key: A Balasubramanian - Exchange4Media