Volume 12 Issue 1 | March 2025
INSIGHTS
How Can Foreign Commercial Vehicle Manufacturers Succeed in India?
Seven steps to achieve market entry based on lessons from recent market exits.
By Debjit Roy and Shubham
Endnotes
1. Ministry of Finance, Government of India, “Economic Survey 2022-23 (2023)”, July 2024, https://www.indiabudget.gov.in/economicsurvey/doc/echapter.pdf, accessed December 2024.
2. Bornali Bhandari et al., “Contribution to Overall Employment by the Auto Industry: Jobs and Skills”, National Council of Applied Economic Research, India, March 2022, https://www.ncaer.org/wp-content/uploads/2022/03/NCAER-Report-Impact-of-Auto-on-Jobs-and-Skills-March-2022-1.pdf, accessed December 2024.
3. International Organization of Motor Vehicle Manufacturers, “2023 PRODUCTION STATISTICS”, https://www.oica.net/category/production-statistics/2023-statistics/, accessed January 2025.
4. International Organization of Motor Vehicle Manufacturers, “GLOBAL SALES STATISTICS 2019-23”, https://www.oica.net/category/sales-statistics/, accessed January 2025.
5. Society of Indian Automobile Manufacturers, “2023 Annual Report”, p.18, https://www.siam.in/uploads/filemanager/SIAMANNUALREPORT2022-23.pdf, accessed December 2024.
6. Mordor Intelligence, “INDIA COMMERCIAL VEHICLES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029”, https://www.mordorintelligence.com/industry-reports/india-commercial-vehicles-market, accessed December 2024.
7. RMI, “Fast Tracking Freight in India: A Roadmap for Clean and Cost-effective Goods Transport”, June 2021, https://rmi.org/insight/fast-tracking-freight-in-india-a-roadmap-for-clean-and-cost-effective-goods-transport/, accessed December 2024.
8. European Environment Agency, “Modal shares (%) in EU-27 freight transport activity”, October 10, 2024, https://www.eea.europa.eu/en/analysis/publications/sustainability-of-europes-mobility-systems/freight-transport-activity/modal-shares-in-eu-27-freight-transport-activity, accessed December 2024.
9. Society of Indian Automobile Manufacturers, “Annual Report 2021-22”, p.6, https://www.siam.in/cpage.aspx?mpgid=42&pgidtrail=89, accessed December 2024.
10. Statista, “Market share of M&HCV trucks in India FY 2023, by manufacturer”, September 20, 2023, https://www.statista.com/statistics/1094573/india-hdv-market-share-by-manufacturer/, accessed December 2024.
11. Using an average exchange rate of US$1 = INR 70.42. Exchange Rates, “Indian Rupee to US Dollar Spot Exchange Rates for 2019”, https://www.exchangerates.org.uk/INR-USD-spot-exchange-rates-history-2019.html, accessed December 2024.
12. Amit Panday, “Even heavy discounts are failing to push commercial vehicle sales”, Mint, August 16, 2019, https://www.livemint.com/auto-news/even-heavy-discounts-are-failing-to-push-commercial-vehicle-sales-1565894504150.html#:~:text=Discounts%20go%20up%20to%20%E2%82%B9,Daimler%20India%20Commercial%20Vehicles%20Pvt, accessed December 2024.
13. KS Kumar, “Indian truck makers discount as sales dip", Asia Times, August 16, 2019, https://asiatimes.com/2019/08/indian-truck-makers-discount-as-sales-dip/, accessed December 2024.
14. Suryakant Das, “Report: Tata Motors Adjusts Discounts on Trucks to Increase Profit Margins”, Business Outreach, January 24, 2023, https://www.businessoutreach.in/tata-motors-adjusts-discounts-on-trucks/, accessed December 2024.
15. Ketan Thakkar, “Volkswagen Group owned MAN Trucks exits Indian market”, The Economic Times, August 8, 2018, https://economictimes.indiatimes.com/industry/auto/lcv-hcv/volkswagen-group-owned-man-trucks-exits-indian-truck-market/articleshow/65306912.cms?from=mdr, accessed December 2024.
16. Deepthi Baskaran, “Force Motors to acquire Man Trucks’ Pithampur facility”, Mint, August 23, 2018, https://www.livemint.com/Companies/bL473klboTGEvn3VMELNjK/Force-Motors-to-acquire-Man-Trucks-Pithampur-facility.html?facet=amp, accessed December 2024.
17. Tony Danby, “Motoring on: Brazil's heavyweight OEMs prepare for growth”, Automotive Logistics, May 20, 2019, https://www.automotivelogistics.media/oems/motoring-on-brazils-heavyweight-oems-prepare-for-growth/38290.article#:~:text=Brazil's%20National%20Association%20of%20Automotive,Ford%209%2C314%20and%20Iveco%202%2C786, accessed January 2025.
18. Malyaban Ghosh, “Scania AB stops production of premium buses in India”, Mint, June 5, 2018, https://www.livemint.com/Industry/ttAbLK4MRGzXbf5grXY3mO/Scania-AB-stops-production-of-premium-buses-in-India.html, accessed December 2024.
19. Dago Diedrich et al., “Route 2030 - A regional view of truck-industry profit pools”, McKinsey & Company, January 2019, https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/a-regional-view-of-truck-industry-profit-pools, accessed December 2024.
20. “Mahindra to Purchase Navistar’s Stake in India Joint Ventures”, press release, December 18, 2012, on International website, https://news.international.com/news?item=599, accessed December 2024.
21. US$1 = INR 85.13, xe.com, accessed December 2024.
22. Mission Antyodaya (MA) Survey aims to collect details of village level infrastructure and services data for all villages across India. The Government of India carries out this survey annually to identify gaps in rural infrastructure at Gram Panchayat (village) level to aid authorities in preparing development plans at Gram Panchayat, block and district levels. In Sanskrit, “Antyodaya” means “uplifting the last person”. In today’s context, it refers to improving the welfare of the people at the bottom of the pyramid.
23. Klaus Schwab, ed., “The Global Competitiveness Report 2019”, World Economic Forum, October 8, 2019, https://www.weforum.org/publications/how-to-end-a-decade-of-lost-productivity-growth/in-full/downloads/, accessed December 2024.
24. Amit Bhardwaj et al., “Goods On The Move: Efficiency And Sustainability In Indian Logistics”, NITI Aayog, 2018, https://e-amrit.niti.gov.in/assets/admin/dist/img/new-fronend-img/report-pdf/Freight_report.pdf, accessed December 2024.
25. BharatBenz, “Bharat VI Range”, https://www.bharatbenz.com/BS-VI-trucks-and-buses#:~:text=On%20top%2C%20to%20offer%20our,6%25%20reduction%20in%20maintenance%20cost, accessed January 2025.
26. Swaraj Baggonkar, “Premium Volvo trucks see demand as economic activity picks up”, Moneycontrol, September 20, 2021, https://www.moneycontrol.com/news/technology/auto/premium-volvo-trucks-see-demand-as-economic-activity-picks-up-7486451.html, accessed December 2024.
27. Statista, “Commercial vehicle sales in leading countries in 2023”, November 22, 2024, https://www.statista.com/statistics/265936/commercial-vehicle-sales-in-selected-countries/, accessed January 2025.
28. “Daimler India Commercial Vehicles with strong growth in both revenue and sales in 2022”, press release, April 24, 2023, on Daimler Truck Asia website, https://asia.daimlertruck.com/en/press-releases/india/daimler-india-commercial-vehicles-with-strong-growth-in-both-revenue-and-sales-in-2022/#:~:text=2022%20was%20especially%20the%20best,buses%20in%20the%20calendar%20year, accessed December 2024.
29. Matthias Breunig et al., “Building smarter cars with smarter factories: How AI will change the auto business”, McKinsey & Company, October 2, 2017, https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/building-smarter-cars, accessed December 2024.
30. Also known as Q-commerce, it refers to e-commerce that emphasises on quick delivery, typically under an hour.
31. Anupam Agrawal et al., “Managing Value in Supply Chains: Case Studies on the Sourcing Hub Concept”, California Management Review, nos. 56, 2 (2014): 23–54, https://doi.org/10.1525/cmr.2014.56.2.23, accessed December 2024.
32. Society of Indian Automobile Manufacturers, “Custom”, https://www.siam.in/economic-afairs.aspx?mpgid=16&pgid1=18&pgidtrail=20, accessed December 2024.
33. N Madhavan, “Can Daimler go the distance in India?”, Mint, March 2, 2023, https://www.livemint.com/companies/news/can-daimler-go-the-distance-in-india-11677687114854.html, accessed December 2024.
34. MOTORINDIA, “SANY India Surpasses 30,000 Machines on Ground, Driving India’s Infrastructure Development”, December 15, 2023, https://www.motorindiaonline.in/sany-india-surpasses-30000-machines-on-ground-driving-indias-infrastructure-development/, accessed December 2024.
35. Ashok Leyland, “Sustainability Report 2018-19”, p.61, https://www.ashokleyland.com/backend/wp-content/uploads/2024/05/Sustainability-Report-2018-19Lowres.pdf, accessed January 2025.
INSIGHTS
Social Mobility: What We Haven’t Talked About
A more balanced understanding may curb its unintended negative outcomes.
By Jacinth Tan
References
1. Teo You Yenn, “This Is What Inequality Looks Like”, Ethos Books, Singapore (2018).
2. Buttrick et al., “Inequality and well-being”, Current Opinion in Psychology, no. 18 (December 2017): 15–20, https://doi.org/10.1016/j.copsyc.2017.07.016, accessed November 2024.
3. Michael W. Kraus and Jacinth J.X. Tan, “Americans Overestimate Social Class Mobility”, Journal of Experimental Social Psychology, no. 58 (May 2015): 101–111, https://doi.org/10.1016/j.jesp.2015.01.005, accessed November 2024.
4. Shai Davidai and Thomas Gilovich, “Building a More Mobile America—One Income Quintile at a Time”, Perspectives on Psychological Science, nos. 10, 1 (2015): 60–71, https://doi.org/10.1177/1745691614562005, accessed November 2024.
5. Gugushvili et al., “Socioeconomic position, social mobility, and health selection effects on allostatic load in the United States”, PLOS ONE, nos. 16, 8 (2021), https://doi.org/10.1371/journal.pone.0254414, accessed November 2024.
6. Gene H. Brody et al., “Is Resilience Only Skin Deep?: Rural African Americans’ Socioeconomic Status–Related Risk and Competence in Preadolescence and Psychological Adjustment and Allostatic Load at Age 19”, Psychological Science, nos. 24, 7 (2013): 1285–1293, https://doi.org/10.1177/0956797612471954, accessed November 2024.
7. Miller et al., “Viral challenge reveals further evidence of skin-deep resilience in African Americans from disadvantaged backgrounds”, Health Psychology, nos. 35, 11 (2016): 1225-1234, https://doi.org/10.1037/hea0000398, accessed January 2025.
8. Miller et al., “Self-control forecasts better psychosocial outcomes but faster epigenetic aging in low-SES youth”, Psychological and Cognitive Sciences, nos. 112, 33 (2015): 10325–10330, https://doi.org/10.1073/pnas.1505063112, accessed November 2024.
9. Dittmann et al., “Interdependent behavior only benefits employees from working-class backgrounds when it is both enacted and valued”, Journal of Experimental Psychology: General, nos. 153, 3 (2024): 720–741, https://doi.org/10.1037/xge0001516, accessed November 2024.
10. Goudeau et al., “What Causes Social Class Disparities in Education? The Role of the Mismatches Between Academic Contexts and Working-Class Socialization Contexts and How the Effects of These Mismatches Are Explained”, Psychological Review, (2024), https://doi.org/10.1037/rev0000473, accessed November 2024.
11. Mesmin Destin and Régine Debrosse, “Upward social mobility and identity”, Current Opinion in Psychology, no.18 (December 2017): 99–104, https://doi.org/10.1016/j.copsyc.2017.08.006, accessed November 2024.
12. Bek Wuay Tang and Jacinth J.X. Tan, “Subjective social class and life satisfaction: Role of class consistency and identity uncertainty”, Asian Journal of Social Psychology, nos. 25, 1 (March 2022): 60-74, https://doi.org/10.1111/ajsp.12488, accessed November 2024.
13. Federica Durante and Susan T Fiske, “How social-class stereotypes maintain inequality”, Current Opinion in Psychology, no. 18 (December 2017): 43–48, https://doi.org/10.1016/j.copsyc.2017.07.033, accessed January 2025.
14. Dittmann et al., “Interdependent behavior only benefits employees from working-class backgrounds when it is both enacted and valued”, Journal of Experimental Psychology: General, nos. 153, 3 (2024): 720–741, https://doi.org/10.1037/xge0001516, accessed November 2024.
15. Grace Yeoh, “'Embrace wider definitions of success': Forward SG report lays out roadmap for a new Singapore vision”, CNA, October 27, 2023, https://www.channelnewsasia.com/singapore/forward-sg-report-success-singapore-dream-lawrence-wong-3861386, accessed November 2024.
INSIGHTS
The Secret Ingredients of Strategy Implementation
Knowing what to do and actually doing it are two very different things.
By Robin Speculand
References
1. Manfred F. R. Kets de Vries, “How to Align What You Say with What You Do”, INSEAD Knowledge, January 10, 2024, https://knowledge.insead.edu/career/how-align-what-you-say-what-you-do?utm_source=INSEAD+Knowledge&utm_campaign=1297b8ac8a-EMAIL_CAMPAIGN_2024_01_11_01_40&utm_medium=email&utm_term=0_-1297b8ac8a-%5BLIST_EMAIL_ID%5D, accessed November 2024.
2. Alan Deutschman, “Change or Die”, Fast Company, May 1, 2005, https://www.fastcompany.com/52717/change-or-die, accessed November 2024.
3. Besson et al., “Smoking Prevalence among Physicians: A Systematic Review and Meta-Analysis”, International Journal of Environmental Research and Public Health, nos. 18, 24 (2021): 13328, https://doi.org/10.3390/ijerph182413328, accessed January 2025.
4. Melissa Healy, “By 2030, nearly half of all U.S. adults will be obese, experts predict”, Los Angeles Times, December 18, 2019, www.latimes.com/science/story/2019-12-18/nearly-half-of-us-adults-will-be-obese-by-2030, accessed November 2024.
5. Smith et al., “Unleashing value from digital transformation: Paths and pitfalls”, Deloitte Insights, February 2023, https://www2.deloitte.com/us/en/events/technology-executives-dbriefs-webcasts/2023/unleashing-value-from-digital-transformation-paths-pitfalls.html, accessed November 2024.
6. Bridges Implementation Survey Results, “Why does change fail?”, 2002, https://www.bridgesconsultancy.com/wp-content/uploads/2016/08/Bridges-Implementation-Survey-Results-2002.pdf, accessed December 2024.
7. Bridges, “20-Year Results From Surveying Strategy Implementation”, 2020, https://www.bridgesconsultancy.com/wp-content/uploads/2016/10/20-Years-of-Strategy-Implementation-Research-2.pdf, accessed December 2024.
8. Beth Kowitt, “How Starbucks got its buzz back”, Fortune, September 24, 2019, https://fortune.com/longform/starbucks-coo-roz-brewer-sales-retail, accessed November 2024.
9. Jeff Pfeffer and Robert I. Sutton, “The Smart-Talk Trap”, Harvard Business Review, May-June 1999, https://hbr.org/1999/05/the-smart-talk-trap, accessed November 2024.
INSIGHTS
Greening Brown Sectors through Transition Finance
Financing not-so-green industries’ environmental transition could really move the climate needle.
By Hao Liang, Yongheng Sun, and Tianhao Yao
References
1. Valerie Masson-Delmotte et al. (eds.), “IPCC, 2021: Summary for Policymakers”, in “Climate Change 2021: The Physical Science Basis. Contribution of Working Group I to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change”, Cambridge University Press, 2023, pp. 3-32, https://doi.org/10.1017/9781009157896.001, accessed January 2025.
2. International Energy Agency, “Southeast Asia Energy Outlook 2024, Executive Summary”, October 2024, https://www.iea.org/reports/southeast-asia-energy-outlook-2024/executive-summary, accessed January 2025.
3. Ibid.
4. International Energy Agency, “Net Zero By 2050”, May 2021, https://www.iea.org/reports/net-zero-by-2050, accessed January 2025.
5. Lauren Cohen et al., “THE ESG-INNOVATION DISCONNECT: EVIDENCE FROM GREEN PATENTING”, National Bureau of Economic Research Working Paper No. W27990, 2020, https://www.nber.org/system/files/working_papers/w27990/w27990.pdf, accessed January 2025.
6. United Nations Environment Programme – Copenhagen Climate Centre, “The Climate Technology Progress Report 2024”, 2024, https://unepccc.org/wp-content/uploads/2024/12/the-climate-technology-progress-report-2024.pdf, accessed January 2025.
7. Samuel M. Hartzmark and Kelly Shue, “Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms”, SSRN, November 1, 2022, https://dx.doi.org/10.2139/ssrn.4359282, accessed January 2025.
8. Ralph De Haas et al., “Managerial and Financial Barriers to the Net Zero Transition”, European Bank for Reconstruction and Development Working Paper No. 254, March 27, 2023, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3796559, accessed January 2025.
9. Qiping Xu and Taehyun Kim, “Financial Constraints and Corporate Environmental Policies”, The Review of Financial Studies, nos. 35, 2 (2021), pp. 576-635, https://doi.org/10.1093/rfs/hhab056, accessed January 2025.
10. Glasgow Financial Alliance for Net Zero, “Defining Transition Finance and Considerations for Decarbonization Contribution Methodologies”, September 2023, https://assets.bbhub.io/company/sites/63/2023/09/Defining-Transition-Finance-and-Considerations-for-Decarbonization-Contribution-Methodologies-September-2023.pdf, accessed January 2025.
11. Neeraj Chouhan et al., “Sustainable Debt Global State of the Market 2023”, Climate Bonds Initiative, May 2024, https://www.climatebonds.net/files/reports/cbi_sotm23_02h.pdf, accessed January 2025.
12. Ministry of Finance, Japan, “Japanese Government Bonds September 2024 Newsletter”, September 2024, https://www.mof.go.jp/english//policy/jgbs/publication/newsletter/jgb2024_09e.pdf, accessed January 2025.
13. People’s Bank of China, “The People’s Bank of China’s reply to Suggestion No. 6454 of the First Session of the 14th National People's Congress”, January 30, 2024, http://www.pbc.gov.cn/zhengwugongkai/4081330/4081344/4081419/4081727/5211775/index.html, accessed January 2025.
14. Monetary Authority of Singapore, “MAS Launches World’s First Multi-Sector Transition Taxonomy”, December 3, 2023, https://www.mas.gov.sg/news/media-releases/2023/mas-launches-worlds-first-multi-sector-transition-taxonomy, accessed January 2025.
15. Convergence, “State of Blended Finance 2024”, April 30, 2024, https://www.convergence.finance/resource/state-of-blended-finance-2024/view, accessed January 2025.
16. Ibid.
17. Monetary Authority of Singapore, “Singapore Commits US$500 Million in Matching Concessional Funding to Support Decarbonisation in Asia”, November 12, 2024, https://www.mas.gov.sg/news/media-releases/2024/singapore-commits-us$500-million-in-matching-concessional-funding-to-support-decarbonisation-in-asia, accessed January 2025.
18. Monetary Authority of Singapore, “Australia and Singapore Collaborate to Support Sustainable Infrastructure and Decarbonisation in Southeast Asia”, December 3, 2024, https://www.mas.gov.sg/news/media-releases/2024/australia-singapore-collaborate-to-support-sustainable-infrastructure-and-decarbonisation-in-sea, accessed January 2025.
INSIGHTS
Mind the Green Skills Gap
The need to build tomorrow’s sustainable green economy today.
By Panchali Guha
References
1. Pradeep Philip et al, “Work toward net zero: The rise of the Green Collar workforce in a just transition”, Deloitte, 2022, https://www.deloitte.com/global/en/issues/climate/work-toward-net-zero.html, accessed December 2024.
2. Ibid.
3. LinkedIn, “Global Green Skills Report 2023”, 2023, https://economicgraph.linkedin.com/content/dam/me/economicgraph/en-us/global-green-skills-report/green-skills-report-2023.pdf, accessed December 2024.
4. Cedefop, “An ally in the green transition”, March 2022, https://www.cedefop.europa.eu/files/9166_en.pdf, accessed December 2024.
5. Kees van der Ree, “Promoting Green Jobs: Decent Work in the Transition to Low-Carbon, Green Economies”, International Development Policy, no. 11 (November 2019): 248-271, https://journals.openedition.org/poldev/3107, accessed December 2024.
6. ILO, “World Employment Social Outlook 2018: Greening with jobs”, 2018, https://www.ilo.org/sites/default/files/wcmsp5/groups/public/%40dgreports/%40dcomm/%40publ/documents/publication/wcms_628654.pdf, accessed December 2024.
7. O*NET, “Occupational Listings”, https://www.onetcenter.org/green/skills.html, accessed December 2024.
8. Charles Arthur, “What are green skills?”, UNIDO, August 8, 2022, https://www.unido.org/stories/what-are-green-skills, accessed December 2024.
9. Ibid.
10. ILO, “Skills for a greener future: a global view”, 2019, https://www.ilo.org/publications/skills-greener-future-global-view, accessed December 2024.
11. LinkedIn, “Global green skills report 2023”, 2023, https://economicgraph.linkedin.com/content/dam/me/economicgraph/en-us/global-green-skills-report/green-skills-report-2023.pdf, accessed December 2024.
12. IEA, “Clean technologies are driving job growth in the energy sector, but skills shortages are an increasing concern”, 15 November 2023, https://www.iea.org/news/clean-technologies-are-driving-job-growth-in-the-energy-sector-but-skills-shortages-are-an-increasing-concern, accessed December 2024.
13. Kees van der Ree, “Promoting Green Jobs: Decent Work in the Transition to Low-Carbon, Green Economies”, International Development Policy, no. 11 (November 2019): 248-271, https://journals.openedition.org/poldev/3107, accessed December 2024.
14. BCG, “Will a Green Skills Gap of 7 Million Workers Put Climate Goals at Risk?”, September 14, 2023, https://www.bcg.com/publications/2023/will-a-green-skills-gap-put-climate-goals-at-risk, accessed December 2024.
15. Eckstein et al., “Global Climate Risk Index 2021”, Germanwatch, January 25, 2021, https://www.germanwatch.org/sites/default/files/Global%20Climate%20Risk%20Index%202021_2.pdf, accessed December 2024.
16. ILO, “Green Jobs and a Just Transition for Climate Action in Asia and the Pacific”, December 30, 2019, https://www.ilo.org/publications/green-jobs-and-just-transition-climate-action-asia-and-pacific, accessed December 2024.
17. Lee et al., “Promoting Equitable and Inclusive Green Job Growth in Southeast Asia”, The Bridgespan Group, May 2023, https://www.bridgespan.org/getmedia/9ab68ac6-6baa-47d6-a2c3-9f0dd3e786f5/promoting-equitable-inclusive-green-job-growth-in-southeast-asia-2023.pdf, accessed December 2024.
18. ILO, “Green Jobs and a Just Transition for Climate Action in Asia and the Pacific”, December 30, 2019, https://www.ilo.org/publications/green-jobs-and-just-transition-climate-action-asia-and-pacific, accessed December 2024.
19. ILO, “Regional Study on Green Jobs Policy Readiness in ASEAN: Final report”, June 30, 2021, https://www.ilo.org/publications/regional-study-green-jobs-policy-readiness-asean-final-report, accessed December 2024.
20. ILO, “Skills for a greener future: a global view”, December 12, 2019, https://www.ilo.org/publications/skills-greener-future-global-view, accessed December 2024.
21. ILO, “Regional Study on Green Jobs Policy Readiness in ASEAN”, 2021, https://www.ilo.org/publications/regional-study-green-jobs-policy-readiness-asean-final-report, accessed December 2024.
22. Alexander Tsironis, “Preparing the Workforce for the Low-Carbon Economy: A Closer Look at Green Jobs and Green Skills”, Asian Development Bank, October 2023, https://www.adb.org/publications/workforce-low-carbon-economy-green-jobs-skills, accessed December 2024.
23. ILO, “Green jobs and a just transition for climate action in Asia and the Pacific”, December 30, 2019, https://www.ilo.org/publications/green-jobs-and-just-transition-climate-action-asia-and-pacific, accessed December 2024.
24. ILO, “Regional Study on Green Jobs Policy Readiness in ASEAN”, 2021, https://www.ilo.org/publications/regional-study-green-jobs-policy-readiness-asean-final-report, accessed December 2024.
25. Accenture, “Companies Must Step Up as Youth Seek Out “Green” Jobs: Accenture”, April 20, 2022, https://newsroom.accenture.sg/asia-pacific/news/2022/youthquake, accessed December 2024.
26. Plan International, “Green Skills For Rural Youth in South East Asia”, 2014, https://plan-international.org/publications/green-skills-for-rural-youth-in-south-east-asia/, accessed December 2024.
27. Alexander Tsironis, “How To Make It Easier for Companies to Participate in Work-Based Training”, Asian Development Bank, November 7, 2022, https://blogs.adb.org/blog/how-make-it-easier-companies-participate-work-based-training, accessed December 2024.
28. ILO, “Regional Study on Green Jobs Policy Readiness in ASEAN”, 2021, https://www.ilo.org/publications/regional-study-green-jobs-policy-readiness-asean-final-report, accessed December 2024.
CASE IN POINT
Wingspan: Taking Digital Learning to New Heights
How an internal learning platform became a market success.
By Adam Tatarynowicz, Wee-Kiat Lim, and Mahima Rao-Kachroo
Endnotes
1. As of December 2024, Thirumala Arohi is Executive Vice President, Head of India Business and Platforms, and Group Head - Education, Training and Assessments at Infosys.
2. Paul Harris, “Start With People, End With Solutions”, TD Magazine, July 20, 2020, https://www.td.org/magazines/td-magazine/start-with-people-end-with-solutions, accessed November 2024.
3. Infosys, “Infosys Learning Lexicon, Vol 1 Issue 1”, 2020, https://www.infosys.com/products-and-platforms/wingspan/insights/documents/infosys-learning-lexicon.pdf, accessed November 2024.
4. Sunbird, “Infosys LeX: The Future of learning at Infosys”, YouTube, May 13, 2020, https://www.youtube.com/watch?v=jxV7xCi82MM, accessed November 2024.
5. Paul Harris, “Start With People, End With Solutions”, TD Magazine, July 20, 2020, https://www.td.org/magazines/td-magazine/start-with-people-end-with-solutions, accessed November 2024.
6. Ibid.
7. Sarah Fister Gale, “The Success of Lex”, Chief Learning Officer, April 16, 2019, https://www.chieflearningofficer.com/2019/04/16/the-success-of-lex/, accessed November 2024.
8. Sunbird, “Infosys LeX: The Future of learning at Infosys”, YouTube, May 13, 2020, https://www.youtube.com/watch?v=jxV7xCi82MM, accessed November 2024.
9. Sarah Fister Gale, “The Success of Lex”, Chief Learning Officer, April 16, 2019, https://www.chieflearningofficer.com/2019/04/16/the-success-of-lex/, accessed November 2024.
10. Badri Ravi, “Digital Strategy Execution with Infosys Wingspan”, Infosys BPM, https://www.infosysbpm.com/blogs/learning-development/Pages/digital-strategy-execution.aspx, accessed November 2024.
11. Mint, “9,000 Infosys trainees at Mysuru residential campus relocate to homes”, June 28, 2020, https://www.livemint.com/companies/news/9-000-infosys-trainees-at-mysuru-campus-relocate-to-homes-11593327862891.html, accessed November 2024.
12. Infosys Limited, “FORM 20-F”, U.S. Securities and Exchange Commission, 2021, https://www.sec.gov/Archives/edgar/data/1067491/000156459021032573/infy-20f_20210331.htm, accessed November 2024. By Dec 2024, over 270,000 Infoscions were spending an average of 35-40 minutes on the Infosys Lex platform, which was branded as Infosys Wingspan for clients and Infosys Springboard for the community.
13. Infosys, “INFOSYS TALENT PULSE REPORT
14. Ibid.
15. Infosys, “Infosys Springboard: Flagship Platform to Accelerate 21st Century Digital Learning”, https://www.infosys.com/about/springboard.html, accessed November 2024.
A WALK THROUGH ASIA
Building Skills Now for ASEAN’s Future
Upskilling of workers is critical for building a more resilient workforce and future-proofing economic growth.
By Shoeb Kagda
References
1. Association of Southeast Asian Nations, “Development of Micro, Small, and Medium Enterprises in ASEAN (MSME)”, https://asean.org/our-communities/economic-community/resilient-and-inclusive-asean/development-of-micro-small-and-medium-enterprises-in-asean-msme/, accessed January 2025.
2. Denni P Purbasari, “Creating upskilling opportunities for 144 million Indonesians”, Only Connect, April 24 2023, https://thelifelonglearningblog.uil.unesco.org/2023/04/24/creating-upskilling-opportunities-for-144-million-indonesians/#:~:text=However%2C%20opportunities%20for%20training%20in,financial%20support%2C%20and%20time%20constraints, accessed January 2025.
3. Mochamad Azhar, “How Indonesia is boosting workforce productivity through large-scale training”, GovInsider, June 19, 2024, https://govinsider.asia/indo-id/article/how-indonesia-is-boosting-workforce-productivity-through-large-scale-training, accessed January 2025.
4. International Labour Organization, “ILOSTAT data explorer”, https://rshiny.ilo.org/dataexplorer30/?lang=en&id=GDP_2HRW_NOC_NB_A, accessed January 2025.
5. Republic of Indonesia Coordinating Ministry for Economic Affairs, “Kartu Prakerja Program Management Report 2024”, https://static-asset-cdn.prakerja.go.id/www/ebook-reporting/Laporan%20Tahunan%20Prakerja%20Tahun%202024%20English.pdf, accessed January 2025.
6. Mochamad Azhar, “How Indonesia is boosting workforce productivity through large-scale training”, GovInsider, June 19, 2024, https://govinsider.asia/indo-id/article/how-indonesia-is-boosting-workforce-productivity-through-large-scale-training, accessed January 2025.
7. VietNamNet Global, “VN to train thousands of engineers and experts in semiconductor manufacturing”, August 8, 2023, https://vietnamnet.vn/en/vn-to-train-thousands-of-engineers-and-experts-in-semiconductor-manufacturing-2175038.html, accessed January 2025.
8. USAID, “USAID Supports Vietnam to Upskill its Workforce for Digital Economy”, September 10, 2021, https://www.usaid.gov/vietnam/news/sep-10-2021-usaid-supports-vietnam-upskill-its-workforce-digital-economy, accessed January 2025.
9. The Straits Times, “Asia funds create alliance to help funnel billions into Vietnam”, September 12, 2024, https://www.straitstimes.com/business/companies-markets/asia-funds-create-alliance-to-help-funnel-billions-into-vietnam, accessed January 2025.
10. Viet Nam News, “61% of companies experience difficulty in hiring human capital”, July 17, 2023, https://vietnamnews.vn/economy/1551167/61-of-companies-experience-difficulty-in-hiring-human-capital.html, accessed January 2025.
11. Chairith Yonpiam, “5m workers to be reskilled”, Bangkok Post, November 2, 2024, https://www.bangkokpost.com/thailand/general/2894672/5m-workers-to-be-reskilled, accessed January 2025.
12. Reuters, “Thailand targets 280,000 workforce in high-tech sectors over 5 years”, June 17, 2024, https://www.reuters.com/markets/asia/thailand-targets-280000-workforce-high-tech-sectors-over-5-years-2024-06-17/, accessed January 2025.
13. Anna Tobin and Linda Lacina, “6 lessons from Singapore on upskilling for the future”, World Economic Forum, May 3, 2023, https://www.weforum.org/stories/2023/05/lessons-from-singapore-on-upskilling-for-the-future/, accessed January 2025.
14. Elisha Tushara, “More than 25,000 Singaporeans used $4,000 SkillsFuture Credit top-up: Gan Siow Huang”, The Straits Times, January 8, 2025, https://www.straitstimes.com/singapore/politics/more-than-25000-singaporeans-used-4000-skillsfuture-credit-top-up-gan-siow-huang, accessed January 2025.
15. World Economic Forum, “Reskilling Revolution: Preparing 1 billion people for tomorrow’s economy”, January 19, 2025, https://www.weforum.org/impact/reskilling-revolution-preparing-1-billion-people-for-tomorrow-s-economy-2c69a13e66/, accessed January 2025.
PARTING SHOT
The Ethics of AI Nudges: How AI Influences Decision-Making
And why decision-makers should care about it.
By Seema Chokshi
References
1. Julia Angwin and Jeff Lawson, “Bias in Criminal Risk Scores is Mathematically Inevitable, Researchers Say”, ProPublica, December 30, 2016, https://www.propublica.org/article/bias-in-criminal-risk-scores-is-mathematically-inevitable-researchers-say, accessed December 2024.
2. Ibid.
3. Anne Trafton, “Study reveals why AI models that analyze medical images can be biased”, MIT News, June 28, 2024, https://news.mit.edu/2024/study-reveals-why-ai-analyzed-medical-images-can-be-biased-0628, accessed December 2024.
4. Nicolas Lainez, “The Prospects and Dangers of Algorithmic Credit Scoring in Vietnam: Regulating a Legal Blindspot”, ISEAS Yusof Ishak Institute Economics Working Paper No. 2021-1, January 2021, https://www.iseas.edu.sg/wp-content/uploads/2021/01/ISEASEWP2021-1Lainez.pdf, accessed December 2024.
5. Deloitte, “New Deloitte report: Digital natives leading Generative AI adoption in developing Asia Pacific economies; Singapore employees believe 64% of their tasks will be automated or augmented in next five years”, May 14, 2024, https://www2.deloitte.com/sg/en/pages/about-deloitte/articles/new-deloitte-report-digital-natives-leading-generative-ai-adoption-in-developing-asia-pacific-economies-singapore-employees-believe-64-of-their-tasks-will-be-automated-or-augmented-in-next-five-years.html, accessed December 2024.
6. HLB Mann Judd, “Embracing AI for competitive advantage”, January 30, 2024, https://hlb.com.au/2024-hlb-survey-of-business-leaders/, accessed December 2024.
7. Robert Epstein and Ronald E. Robertson, “The search engine manipulation effect (SEME) and its possible impact on the outcomes of elections”, August 4, 2014, PNAS, https://doi.org/10.1073/pnas.1419828112, accessed December 2024.
8. Richard H. Thaler and Cass R. Sunstein, “Nudge: The Final Edition”, Penguin, 2021.
9. EU Artificial Intelligence Act, “The AI Act Explorer”, https://artificialintelligenceact.eu/ai-act-explorer/, accessed December 2024.
