Larsen & Toubro Limited (L&T) is one true Indian multinational that serves customers in over 30 countries, across various industries. And still at the helm of its affairs is a man who has masterminded L&T’s transformation into a world-class conglomerate. A. M. Naik, Group Executive Chairman, L&T, speaks about what it takes to lead a multinational giant, designed to deliver engineering solutions globally.
TDB: You have been a part of Larsen & Toubro Ltd. (L&T) since 1965 and have witnessed it go through major expansions and changes. Where do you see the company heading from here?
A. M. Naik (AMN): L&T has always been a ‘national sector’ company. We have always operated in areas where we feel the country needs our services. And the idea has always been to discover our core businesses’ competencies and excel in those businesses. I also believe that the core businesses have to be re-evaluated every five years. This evaluation of course, also depends on the nation’s economic growth trajectory and GDP.
We will have to keep reinventing ourselves to meet the needs of a changing India. For example, we started defence manufacturing almost 30 years ago with Defence Research and Development Organisation (DRDO) and Indian Space Research Organisation (ISRO), with small components manufacturing, and are now positioned as a leading defence manufacturing company in the country.
Alongside an eye for the future, one also has to have great execution skills, which I feel we have at present and which we will have to keep honing in order to succeed in the future.
TDB: L&T is one of India’s most reliable companies across a variety of sectors. What do you think has been the company’s biggest achievement so far?
AMN: We have indeed seen huge progress over the last 10 years. While one must always strive for more growth, our most notable achievement has been that instead of just focussing on growth we have always been on the front lines of the industries which India has needed. Whether it be nuclear power, defence or infrastructure, L&T has always been at the forefront and has delivered when called upon by the country.
This story is from the July 2017 edition of The Dollar Business.
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This story is from the July 2017 edition of The Dollar Business.
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