2023 was a tumultuous year for our fight against the climate crisis. India’s dynamic presidency of G20 and COP28’s “no excuses” call to action were key events that saw leaders and change-makers come together to bridge rhetoric and action. At Xynteo, we see businesses as a force for good. Our mission is to help leaders and institutions sculpt a world where business is viewed both as an engine of prosperity as well as an instrument to create people- and planet-positive growth. To that end, we make use of the power of “with” to build new networks and partnerships, and to solve the problems that are too big, too complex and too expensive to tackle alone. Our curated collaboration model convenes diverse sectors to tackle intricate challenges in healthcare, energy transition, plastics, and mining. Our data-driven approach has led us to turn ideas into scalable ventures that drive the UN Sustainable Development Goals, such as collaborating with construction and infrastructure companies to decarbonise the built environment and catalysing high-potential start-ups to accelerate the commercialisation and scaling of the clean hydrogen value chain.
One of the ways we do this is the Exchange, by Xynteo. The Exchange is a platform for cross-industry, cross-sector co-creation, designed to solve complex challenges. The Exchange assembles an unparalleled confluence of intellect, perspectives and capabilities to tackle systemic challenges at the intersection of commercial potential and societal progress. From iconic CEOs and policy shapers to grassroots innovators and social entrepreneurs, participants represent the full spectrum of change agents charting business and society's co-evolution. Industry stalwarts rub shoulders with first-time founders, investors engage social impact champions, leading to unexpected cross-pollination of ideas. Over previous years, the Exchange has been able to foster unity of action, collaboration, bring innovative ideas to life, enable start-ups and next-gen technologies, brainstorm solutions to cross-sector challenges and showcase proof points of meaningful impact that Xynteo has been able to deliver.
This year’s two-day Exchange, presented by Hindalco in collaboration with Xynteo, aims to create an immersive experience that challenges all who are present not only to think and talk, but also to create and do.
In this chat, Vipul Kumar, Senior Partner, Xynteo, and Satish Pai, Managing Director, Hindalco Industries, and Chair, Vikaasa Executive Committee, talk all things Exchange.
1. What makes the Exchange unique?
Vipul: At the Exchange, we see business not as an observer or reluctant participant to society's transition, but as a co-creator in its key next chapters. There is a groundswell of enterprises beginning to reshape strategies, operations and business models to drive solutions at the nexus of ecological integrity and human dignity, balanced with economic prosperity. The Exchange seeks to complement these efforts, and to help more businesses recognise their power and responsibility to be the helm of a new generation of innovators. We enable this via curating three different elements over the course of the event:
1. The Square, which includes panel discussions, fireside chats and speaker series to hear from industry leaders, policy makers, investors and change makers.
2. Studios, facilitating laser-sharp discussions in a roundtable format around specific themes to enable tangible action towards building a people- and planet-positive future.
3. The Marketplace, which provides a platform for budding start-ups to showcase technologies and solutions designed to solve pivotal challenges in the sectors we work on - energy transition, circularity, healthcare, social inclusion and the built environment.
The key lies in breaking old moulds of silos—excellence today and survival tomorrow will depend greatly on flexibility, transparency and true collaboration. This is what we strive for from each Exchange that we host.
2. What is Hindalco’s role in the Exchange?
Satish: As a founding member of Xynteo's Vikaasa coalition, Hindalco has been at the forefront of accelerating India's progress on the UN Sustainable Development Goals alongside fellow forward-thinking business partner. We've focused on key impact areas such as sustainable mining, healthcare, circular economy and clean energy.
Our partnership with Vikaasa has been invaluable in expanding Hindalco's own sustainability horizons. The collaborative approach fostered by Xynteo allows us to combine our distinct capabilities and insights with coalition partners to co-develop holistic solutions. We've learned that driving lasting change requires embracing diverse expertise and perspectives.
It is this spirit of pioneering collaboration that Hindalco aims to amplify as the title sponsor for the upcoming Exchange in February 2024. Our goal is to rally the brightest minds across business, policy, and society to unify around a bold vision for an equitable, climate-resilient India by 2030.
Only by convening leaders to align priorities, forging unusual alliances, and committing to collective action can we accelerate India's green industrial revolution. The Exchange creates a unique space to catalyse the crucial partnerships, ideas and ventures that will transform our systems in line with national sustainability ambitions.
Hindalco stands committed to supporting Xynteo's mission of engaging cross-sector stakeholders to drive inclusive, responsible growth. We are excited to welcome the Exchange participants as co-architects charting India's next frontier of equitable progress. In fact, as we progress, Hindalco is transforming – we call it metALmorphosis – to become more agile, relevant and resilient. MetALmorphosis symbolises our endeavour to ascend, evolve, and excel, reaching unprecedented levels of performance.
3. How has the Exchange evolved over the years, and what are some of the outcomes from the Exchange?
Vipul: The first Exchange in India was held in 2018. Since then, the Exchange has been a platform for progress—both economic and social—and shared purpose. We at Xynteo have been honoured to play the role of convener, welcoming several global leaders into this movement for change.
Each successive Exchange has unveiled more breakthrough ideas and promising ventures seated at the intersection of business and human potential: 27 in our first year, and 32 in the following year. Though these numbers may not be large, we revel in the strength of collective spirit as our current and potential partners, policymakers and change-agents share insights and pathways for turning ideas into action.
The true impact of our work is in the unconventional alliances we have forged to develop and scale ideas and solutions towards a better tomorrow, such as catalysing healthcare start-ups in their go-to-market approaches and creating India’s largest testbed network, implementing circular economy models for dry waste collection and use in Maharashtra, developing a sustainable enterprise for traditional Kosa artisans near the mining communities in Chhattisgarh as well as a sustainable mining charter (a blueprint for driving sustainability within mining) , and working to decarbonise the cold-chain transportation sector via a last-mile delivery system with the use of phase-change materials (PCM) technology.
4. What in your mind are some of the biggest enablers to work on sustainability? And what are some of the biggest blockers? Satish: The road to sustainability begins by recasting business models with responsible practices and circular thinking at heart. When sustainability is deeply embedded into strategy rather than treated as a separate mandate, new avenues for innovation and value creation emerge across operations and decision making.
Progress requires organisations to embrace sustainability as a commercial opportunity, not just for compliance. It unlocks potential for systems-level efficiencies, stronger stakeholder alignment, and competitive advantage as consumer and investor values shift. But the transition cannot happen in isolation.
Leaders across industries must move beyond silos to collectively redesign core practices, invest in green technologies and solutions, and reshape policy frameworks as united champions. A cohesive ecosystem amplifies and accelerates individual sustainability commitments.
Crucially, we must set aside assumptions, egos and short-term interests that cloud the path forward. Only with openness, empathy, long-term vision, and the courage to challenge the status quo can we embed sustainability into thriving business models designed to restore social and ecological balance. When every actor aligns around this mission, the value created flows not to a select few but all stakeholders.
Multi-stakeholder collaboration, alignment and systems-level thinking are vital to transition businesses from extractive to restorative models befitting the economy of tomorrow. We are most powerful in pursuit of a sustainable future when we move together.
5. What is this year’s theme?
Vipul: The overarching theme of this year's Exchange, presented by Hindalco in collaboration with Xynteo, is "India@2030 - Scaling Good Growth", envisioning an equitable and sustainable model for India's continued economic ascent over the next decade. Discussions will centre around augmenting India's recent progress as a leading developing economy while advancing national social and environmental priorities. Conversations will explore pathways for translating principles of "good growth" into action in both the public and private sectors. Keynotes and panel sessions will have ministers, CEOs, civil society and entrepreneurs spotlight innovations across healthcare, public policy, energy and other strategic sectors that balance commercial viability and social/ecological integrity. The event will facilitate conversations between corporations, start-ups and policymakers to scale market-based solutions towards national development goals.
In summary, the Exchange will host a multi-stakeholder dialogue to propel an Indian model of growth that sets global benchmarks on prosperity measures beyond GDP, cementing the country's standing as a sustainability leader
6. What impact do you think this year’s Exchange will have?
Vipul: I see the Exchange bringing together several business, government, and social sector leaders to collaboratively tackle intricate sustainability challenges. We would be able to leverage this platform to highlight the tangible progress we have made and showcase the impact of our ongoing initiatives. We also hope to garner the support of other like-minded individuals and organisations, to work together and foster a community committed to driving positive change.
We expect the Exchange to generate fresh perspectives that we can actively support and champion in the future. It's about harnessing the collective intelligence of diverse thought leaders to shape the path forward.
Satish: I want to underscore how crucial the Exchange is for us at Hindalco. It's a fantastic opportunity to not only demonstrate but also reinforce our unwavering commitment to sustainability.
We're looking to forge meaningful partnerships with stakeholders from diverse sectors that will propel us forward in achieving our sustainability goals. We are eager to showcase some of our initiatives during the event—as a model that can be replicated by interested in weaving sustainability and community upliftment into their operations.
We see the Exchange as a potential catalyst for innovation. The cross-pollination of ideas could lead to new solutions that not only benefit our operations but also contribute to sustainability across our entire value chain. It's an exciting prospect, and we're ready to make the most of it.
Moneycontrol journalists were not involved in the creation of the article.
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