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1、1BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE WHY INCLUSION MATTERS TO BUSINESSES IN INDIAPart 3|Designing InclusiveProducts&ServicesJUNE 2024WHY INCLUSION MATTERS TO BUSINESSES IN INDIA2AboutBoston Consulting Group partners with leaders in business and society to tackle their most important challeng

2、es and capture their greatest opportunities.BCG was the pioneer in business strategy when it was founded in 1963.Today,we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow,build sustainable competitive advantage,and

3、drive positive societal impact.Our diverse,global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change.BCG delivers solutions through leading-edge management consulting,technology and design,and corporate and digital ventures.We

4、 work in a uniquely collaborative model across the firm and throughout all levels of the client organization,fueled by the goal of helping our clients thrive and enabling them to make the world a better place.Success for every organizationincluding our ownhinges on the ability to elevate diversity o

5、f thought,challenge established mindsets,and unlock solutions that enable organizations to thrive.To fully reflect the world in which we work and to achieve this sustainable impact,we recruit passionate,open-minded people of all gender identities,sexual orientations,ethnicities,physical abilities,an

6、d experience.We offer employees global affinity networks for gender,AccessAbility,and LGBTQIA+identity,as well as regional networks and communities that support local needs.We focus on intersectionality across these networks which provide affiliation,networking,mentorship,and access to senior leader

7、s.Additionally,we offer diversity,equity,and inclusion(DEI)consulting and provide customized tools to guide decision-making,as we work alongside our clients on their DEI strategies.We partner with leading organizations across the globe to learn from those that are best-in-class and contribute to the

8、 evolving DEI dialogue.ET Edge is part of The Times Group ecosystem focused on empowering industries and businesses.We offer strategically planned and innovative platforms that include conferences,summits,exhibitions,workshops,roundtables,business-to-business meetings,and peer learning networking fo

9、rums.We believe in crafting an inspiring mix of commercial acumen and inspiration by bringing together business and government leaders,entrepreneurs,and change-makers from across the world to drive change and share cutting-edge business information.ET Now Global DEI Alliance(GDEIA),by The Times Grou

10、p,is a global initiative that brings together individuals and organizations from around the world who are committed to promoting Diversity,Equity,and Inclusion(DEI)in the workplace and beyond.It serves as a community for sharing ideas,best practices,and resources to help organizations become more di

11、verse,equitable,and inclusive.GDEIA includes senior leaders from India Inc.,DEI advocates and champions,and knowledge partners,each sharing strategic inputs,best practices,futuristic vision,success stories,and other elements that will drive change.BCG has collaborated with ET Now Global DEI Alliance

12、 as a Knowledge Partner for the year 2023-24.3BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE The Path to InclusionHow can businesses be more inclusive and why is it important to be so in the first place?This is a question many CEOs are asking.When done right inclusion can provide businesses with a comp

13、etitive advantage,while advancing societies and the world.Leading companies take a comprehensive approach to inclusion which can influence all facets of the business in delivering both business success and social good.To better understand inclusion and its impact,we have created a detailed three-par

14、t report to provide a roadmap for Indian businesses today and in the future.Part 1:Current State of Inclusion among Businesses in India presents an in-depth analysis of the crucial role of inclusivity in Indian businesses,drawing on findings from our Global DEI Alliance self-assessment survey.It exp

15、lores how organizations can begin their journey towards inclusivity in India with best practices to promote diversity,reshape organizational culture,and open new markets.Following this,we have two deep dives on how organizations can further their journey,embedding inclusion within their workplaces,p

16、roducts,and services.Part 2:Building Inclusive Organizations delves into the impact that a fair,inclusive,and supportive environment can have on current and potential employees.It outlines strategic frameworks and key policies organizations can adopt to foster a work environment where all individual

17、s feel valued,respected,and empowered to contribute their best.Part 3:Designing Inclusive Products and Services examines how companies can tap into underserved customer bases and address their diverse needs through inclusive product and service design.This section identifies potential markets and of

18、fers actionable insights into creating products that are accessible and appeal to underserved consumers who represent significant buying power.Together,these three parts form a comprehensive guide that illustrates not only the why but also the how of becoming an inclusive business in India.This seri

19、es aims to serve as both a call to action and a blueprint for businesses seeking to capitalize on the vast opportunities presented by a commitment to diversity,equity,and inclusion.This is part 3 of the 3-part report.WHY INCLUSION MATTERS TO BUSINESSES IN INDIA4PART 3 Designing InclusiveProducts&Ser

20、vices5BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE Traditionally,organizations have leveraged Indias diversity to create strategic advantage by moulding products and services to appeal to diverse segments by region,ethnicity,socioeconomic conditions,culture,and values.For instance,consumer companies

21、provide small-pack variants of products like shampoo sachets and biscuit packs for lower income groups.Additionally,linguistic inclusivity has broadened reach and impact through availability of apps and tools in vernacular languages.Expanding these practices to further encompass other DEI dimensions

22、 such as gender,sexual orientation,and PwD offers significant opportunities for deeper inclusivity and economic advantage to companies.Although in expanding these practices,companies should go beyond merely bulking up their corporate social responsibility(CSR)muscle.While CSR often focuses on locali

23、zed,pro bono initiatives,these efforts can have a limited impact if they are not integrated into the broader business agenda.To make meaningful contributions that also drive the business,companies should embed such efforts in their core business strategy and follow the same strategic principles appl

24、ied elsewhere in the organization,considering factors such as how well the effort integrates with the business strategy,aligns with the corporate purpose,and ensures long-term profitability and scalability.Based on our Global DEI Alliance self-assessment survey,52%of companies in India indicate that

25、 embedding DEI into their business practices has improved market access.However,only 32%have launched products or services catering to specific diversity groups,and only 26%have initiated marketing or sales campaigns focused on these diverse segments.1 A substantial market potential exists across di

26、verse dimensions of DEI Today,women are key influencers.According to the National Family&Health Survey(India),over the last 5 years,there has been a 34-percentage-point increase in the number of married women making decisions regarding household purchases and a 26 percentage-point increase in the nu

27、mber of women who control and use a bank account.A recent BCG study revealed that 54%of women said they have the final say in purchase decisions,compared to 46%of men.Womens influence predominates in many categories,including four-wheelers(57%),gadgets(54%),entertainment(47%),and medical products an

28、d services(41%).Growth categories such as womens health and hygiene are currently valued at over$700 million and are expected to grow at a CAGR of 14%,surpassing$1.5 billion by 2028.2The repeal of section 377 of IPC in 2018(which decriminalized homosexual activity)and the introduction of the Rights

29、of Persons with Disabilities Act in 2016(which promotes and protects the rights of persons with disability)has also opened new opportunities in the consumer market.The Pink economy,serving the LGBTQIA+community represents a population base of 100Mn+3,accounting for a nominal GDP of$1,680 per capita.

30、4 In India,there is a growing awareness and support for this pink economy and some organisations have already launched products and services catering to the community,such as joint bank accounts,health insurance for same-sex partners,gender fluid clothing,LGBTQIA+-themed events and many more.The Pur

31、ple economy,focusing on PwD,accounts for 80Mn+5 people and at least 160+Mn additional members of their influence circles.With relatively minor adjustments,many products,and services can be made accessible to PwD.For example,installing swivel seats in vehicles can facilitate easier access for those w

32、ith limited mobility,and replacing small buttons with magnetic closures in clothing can aid individuals with dexterity challenges.Examples of truly inclusive products and services remain more of an exception than the norm in India.Organizations at large should draw lessons from pioneering examples w

33、ho have gone ahead and tapped into these markets.1.Basis BCG&ETs DEI survey of 35+companies in India;2.Mordor Intelligence(2023)3.7-8%of the Indian population-data presented by the Naz Foundation in the petition against section 377;4.LGBT Capital(2023)5.World Bank India estimates 80Mn PwD(6%of the p

34、opulation),though the number is underestimated due to limitations in estimating methodology such as low coverage of types of disabilities,a segment of the elderly population not accounted,and a social stigma associated with reporting disabilityWHY INCLUSION MATTERS TO BUSINESSES IN INDIA6Everyone be

35、nefits from innovations and insights derived from disabilityDesign for All=ScaleUse products along with diversity group peersDiversity GroupFriends&FamilyBroader MarketMarket Size/Population(%)OpportunityDirectly use products developed for them 02573Products with a very specific initial use case hav

36、e often expanded to serve a much wider marketProducts designed for a specific diversity group can expand to fulfil broader market needsProductsInitial use caseExpanded use caseInvented for visually impaired people for stories(Ideated by the American Foundation of the Blind in 1932 initial recordings

37、 done on vinyl records)Audio booksToday,various apps exist for audiobooks;also available in different formats like“Podcasts”used by persons without disabilitiesInitially invented for visually impaired people(developed by Italian inventor,Pellegrino Turri)TypewritersPrecursor to modern day“computer k

38、eyboards”which are used universallySource:Return on Disability Group(2021)Products and services created for diverse communities often satisfy the latent needs of a larger consumer base The phenomenon of products expanding their market scope beyond their initial target audience is common.Initially,co

39、nsumers from diverse groups adopt these products to meet their specific needs.Subsequently,individuals within their influence circles,such as friends and family,begin to use these products.Over time,many of these products achieve broader market appeal and scale up to reach a wider audience.6 For ins

40、tance,captioning on videos,initially developed for the deaf and hard-of-hearing community,has become a standard feature across various online platforms.It not only serves its original purpose but also benefits individuals in noisy environments or those who prefer to watch videos without sound.6.Mini

41、stry of Health&Family Welfare7BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE Source:Press Search;BCG analysisThese examples highlight how products initially targeted at specific groups often appeal to a wider audience.ProductsInitial use caseExpanded use caseInitialy developed for people with hearing d

42、isabilities(captioned Hollywood films for deaf people were required by law in 1958)Closed CaptioningUsed by the larger popoulation today across over-the-top(OTTs),media platforms etc.;aids in watching shows aired in different languagesInvented to help calm people with ADHD,autism,anxiety disordersFi

43、dget SpinnersCurrently,they are widely accepted and used by people as toys/fun objectsInvented for people with less advanced motor skills(first developed in1954 called“Broxodent electric toothbrush”)Electric toothbrushes Used by the larger segment due to its ability to decrease tooth decay and promo

44、te healthier gums(est.Market size of$3B as of 2020 globally for electric toothbrushes)Organizations can build inclusive products and services by actively embedding DEI principles in product/service development by following these four steps:Assess concepts through a DEI lens to identify benefits and

45、mitigate harm to marginalized groups.Evaluate product inclusivity and enhance accessibility for underserved segments.Define the value of new products with DEI in mind.Continuously test impacts on multiple user groups to ensure inclusivity.Develop an agile,human-centred approach.Address diverse needs

46、 through segmented development and involve specific diversity groups to ensure equitable outcomes.Enable inclusive structures and leverage technology to benefit users and society.Post deployment,study product adoption to understand diverse consumer usage and identify new segments for a more inclusiv

47、e strategy.WHY INCLUSION MATTERS TO BUSINESSES IN INDIA8Learning from frontrunners|The Lalit Suri Hospitality GroupThe Lalit Suri Hospitality Group|Frontrunners in LGBTQIA+hospitality and entertainment services in India,becoming top choice among the LGBTQIA+community Built spaces for the community t

48、o connect(ex:“Kitty Su”LGBTQIA+&PwD inclusive nightclub,queer brunches)Kitty Su PureLove nights running for 7+years1,with avg footfall of 500-700 peopleProvide inclusive hotel experiences(ex:Pure Love loyalty membership program for LGBTQIA+guests(100+members),modified room dcor/accessories for same-

49、sex couples(placement of queer books)Preferred hotel for all LGBTQIA+guests&events(conferences,job fairs,Pride Parades,etc.)Hosted international and national LGBTQIA+events(ex:RISE job fair,TransQueen India,Mr.Gay India,Launch of IGLTA India Chapter,etc.)Increase in corporate clientele(esp by organi

50、zations valuing DEI)for their events,conferences,and stay.Tapped into the Pink Economy by building LGBTQIA+friendly hospitality services1.Except during Covid-related restrictions;Source:BCG analysisRecognized&awarded for its efforts:Conde Nast Favorite LGBTQIA+Friendly Hotel in India 2020,2021;4x wi

51、nner of National Tourism Award for Best Facilities for the Differently Abled Guests(Including Hall of Fame Award),Gold Award for LGBTQ+Inclusion at IWEI,Diverse Company of the Year 2023;Only global hotel chain to have all its hotels accredited to IGLTA(International LGBTQ+Travel Association)Embracin

52、g genuine inclusivity means developing products and services that cater to a diverse range of consumer needs and preferences.Prioritizing DEI throughout every phase of product development,from conceptualization to market launch,allows organizations to harness diverse insights and enhance innovation.

53、This approach not only supports a more equitable workplace but also allows companies to tap into untapped market segments,driving sustainable business growth.9BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE WHY INCLUSION MATTERS TO BUSINESSES IN INDIA10Primary authorsContributorsManaging Director&Partne

54、r,BCG Mumbai Rathi.RRoshni RathiSenior Director-Global Diversity,Equity,and Inclusion,BCG London Dartnell.AAshley DartnellSI Offer Director-Socially Transformative Business,BCG Boston Back.EElyssa BackPartner&Director Center for Customer Insight,BCG Mumbai Sanghi.KKanika SanghiProject Leader,BCG Gur

55、ugram Gulati.SShivaye Gulati Associate,BCG BengaluruParwani.VVishal ParwaniAcknowledgementsSenior Knowledge Analyst,BCG Gurugram Kalia.MMayank KaliaResearch Analyst,BCG Bengaluru S.SSriram SWe extend our sincere appreciation to Vincent Chin,Vikram Janakiraman,Abhishek Gopalka,Amit Kumar,Amita Parekh

56、,Mei-Jung Chen,Neha Ahuja Bhutani,Gabrielle Novacek,Sreyssha George,Natasha Peacock,Aditi Tiwari,Gretchen May,Kushal Khandhar,Audrey Gan,Averi Chakraborty,Raphaelle Kemoun,Sugandh,Ayse Terzioglu,Rochelle Aranha,Radhika Mitra,Sanjana Koli,and Rahil Bharat Ram for their contributions to the report.We

57、would also like to thank Jasmin Pithawala,Sucheta Desai,and Malvika Chaturvedi for marketing and communications support;and Saroj Singh,Sujatha Moraes,Seshachalam Marella,Subhradeep Basu,Vijay Kathiresan,Pavithran NS,and Naman Arora for their contribution in the design and production of the report.W

58、e would also like to thank Seema Bansal(Vice-Chairperson,Punjab Development Commission),Keshav Suri(Executive Director,The Lalit Suri Hospitality Group),Aradhana Lal(Senior Vice President of Sustainability,Lemon Tree Hotels),and Nipun Malhotra(Founder Chair,FICCI Diversity&Inclusion Working Group on Empowering Persons with Disability)for their insights and guidance in the preparation of this report.11BOSTON CONSULTING GROUP|GLOBAL DEI ALLIANCE WHY INCLUSION MATTERS TO BUSINESSES IN INDIA12