Vats, Group CEO & Managing Director, Viacom 18 Media, spoke about ‘Harmonising chaos in a new world order’
The Pitch CMO Summit 2019, Delhi, kicked off with much enthusiasm as Sudhanshu Vats, Group CEO & Managing Director, Viacom 18 Media, took to the stage to deliver the keynote address.
Speaking on the topic of ‘Harmonising chaos in a new world order’, Vats began the day’s proceedings by questioning the very definition of a new world order. “Is the new world more equal? Is the new world more global? Is the new world more democratic? Is the new world about technology? Or is the new world about energy?”
Delving into his perspective, Vats went on to acknowledge that much of the new world is about technology. Talking about the current era and the way ahead, Vats commented, “The new world is about technology and digital. It is transforming everything we do, in every sphere of life, in ways which were unknown and at a pace we never fathomed in the past.”
Following it up with on an emotional and insightful note, Vats commented on how in an era of growing noise, we are paving a pathway of sustainable solutions for the next generation.
The core of Vats’s address was to address a critical yet much neglected point in the current society. “In the new world order, are we headed to a platform where we are more equal? Or is it the other way around?”
The keynote address shed light on how even after a dedicated seven years of his media journey, he is looking to address not only the existing facts of inequality but a prevalent perception of it as well.
Citing an example, Vats presented his views on demonetisation and spoke about how one of the defending arguments for the move was to tackle a so called societal inequality. “In the corporate scenario, if you follow Jeff Bezos’ latest comment, he talked about raising the minimum wage to $15 every hour and challenging other companies to follow suit,” he said.
He followed the argument by commenting on how products and services consumption have evolved in India over the past 50 years and how the consumer mentality of ‘conspicuous consumption’ has faded away and the prevalent narrative has shifted to an idea of “if you have it, flaunt it”.
Quoting the famous French economist Thomas Pikkety, Vats described how India has raced to an unequal paradigm over the past 35 years. “In the 1980s, 10 percent of the Indian population accounted for 40% of the national wealth and that number has risen to the same pool accounting for 68% of the wealth of the country”.
Though Vats admitted that he doesn’t have an ideal solution, he did describe a key habit that could help bridge the gap. ‘Share, is an old world phrase. Our parents taught us a lot about sharing. As a society in India and particularly Asia, sharing is an important virtue”.
Vats ended his address on a positive note by quoting certain examples of applied sustainability across the globe. Aligning his address to the gathering of top marketers at the Pitch CMO Summit 2019, Delhi, Vats rounded his keynote address on an optimistic note. “Share your adaptability to sustenance with your consumers, talk about it. Bringing that conversation into society is good for a brand and for building an equity, stature and size,” he concluded.