Emerging pattern of trade is more regional: KM Birla

MUMBAI: Aditya Birla Group chairman Kumar Mangalam Birla has written to employees on his reflections on 2019 and lessons for 2020. He referred extensively to the startup ecosystem and how nationalism has made companies rethink strategies.

Birla sees the world “dealing with the consequences of globalisation and its discontent,” where the term has been overtaken by nationalism as a more popular search on Google. “As globalisation makes way for ‘slowbalisation,’ the emerging pattern of trade is more regional.”

Birla emphasised the need for scaling up, digitisation and disruptors and lauded Swedish activist Greta Thunberg for becoming the face of the climate change awareness movement. “This new world, for sure, is not for the faint-hearted,” Birla wrote. “Digital technology continues its determined march, providing outsized returns to a few winners.” He said “very unlikely players” are coming together to form ecosystems, united by the idea that collaborations would lead to value creation.