This article originally appeared in ET Panache on May 30, 2023

Today, more than ever before, global businesses are realizing the scale and complexity of social and environmental challenges and the threat it poses to their growth. For transformational impact that moves the needle, various stakeholders, from scientists to activists, businesses to artists, policymakers, and consumers, must look beyond their individual priorities and work together.

Xynteo, a purpose-driven organisation, is helping to foster this collaboration by encouraging clients to embrace cross-sectoral partnerships that tackle complex systems. Over the years, the advisory firm has created several collations between businesses in India & Europe, to solve critical challenges. One such example is Vikaasa, a coalition of forward-leaning organisations launched in 2017 to accelerate India’s development goals.

Coalition for good

Over the last five years, Vikaasa has been developing and incubating transformative projects which have shown meaningful impact in the areas of energy transition, plastic circularity, access to healthcare and developing livelihood opportunities. Since its launch, the coalition supported by Hindalco, Aditya Birla Group’s metals flagship; Shell; Hindustan Unilever; Cyient; State Bank of India; Tata Trusts; WPP and Baker Hughes, has developed over 40 projects across sectors that have positively impacted over 1.5 million people.

Access to healthcare – Led by Cyient, this track focuses on democratising access to diagnostic healthcare technologies by leveraging the power of partnerships to ensure pan-India reach for high-quality healthcare solutions.

Energy – Energy led by Shell and Technip Energies, focuses on spurring decarbonisation solutions and accelerating the adoption of more sustainable energy sources in support of the country’s energy transition.

Waste Management – Vikaasa’s work with Hindustan Unilever Limited and the State Bank of India aims to transform the way we think about dry waste by establishing a commercially viable end-to-end waste management model, with a strong focus on raising awareness around segregation.

Sustainable Mining – Vikaasa is also working with Hindalco to develop a future-fit business model for the mining sector that supports social and environmental imperatives while meeting resource demands.

Catalyst for change

Recently, Xynteo hosted an event, ‘Pioneering Good Growth’ to celebrate five years of Vikaasa and to reflect on the way forward. The event was centred around India’s position as an emerging leader in the Global South, and the critical role businesses play in propelling the country’s human-centric agenda.

The event, which featured coalition partners, project partners, advisors and well-wishers, saw participation from over 20 organisations and 60 visionary leaders from diverse sectors. Discussions ranged from technology and energy transition to community-driven growth, and reimagining leadership for building the India of tomorrow.

Learn more about the event

Satish Pai, Managing Director, Hindalco Industries, said: “Vikaasa’s focus on human-centric good growth and unconventional partnerships gives us a unique advantage in addressing today’s challenges. Together, I look forward to unlocking opportunities at the intersection of sustainability, innovation, and business – to create impact at scale and shape Vikaasa’s legacy as a catalyst for change.”

Vipul Kumar, Senior Partner, Xynteo added that “There has been a significant shift in the way businesses are viewing sustainability – it now forms the DNA of a company’s way of operation. The member organisations of Vikaasa all embody this principle, and that allows for the development of business models that are sustainable, inclusive, and have a long-term impact in mind. As we embark on this new chapter, we at Vikaasa express our deep gratitude to Sanjiv Mehta for his unwavering commitment and dedication towards our shared vision as Chair Emeritus of the Vikaasa Executive Committee. At the same time, we are thrilled to welcome Mr. Pai as our new Chair, and look forward to continuing our journey of building India’s growth story under his guidance and vision.”

Xynteo believes that when collaboration is done right, each organisation involved becomes more innovative, charts new growth paths, and creates wealth that is more widespread while also being sustainable. This is the conviction that has led each of Xynteo’s partners to work with the company – the shared belief that India and Indian businesses can lead from the front.