Overcoming Challenges Embracing Innovation Inspiring Excellence

Coming from a small village to leading a renowned energy company, Shivaji Waghmare's journey exemplifies resilience, innovation, and unwavering dedication. In an interview with the Corporate Citizen, Waghmare, CEO, Fuji Electric India, talks on his remarkable path, the transformative power of education, and his leadership approach that fosters teamwork and empowers aspiring professionals to achieve greatness

CC: Tell us about your growing up days

Shivaji Waghmare: What I believe is, when you muster the courage and firmly believe in your ability to conquer, no obstacle can hinder your progress. And, my education journey is a testament to that, as it has been instrumental in shaping my current achievements. I am born and raised in the small village of Deodaithan, located in Ahmednagar district, Maharashtra, where I faced numerous challenges. Education opportunities were scarce in my village, as Vidhyadham Prashala School was the only school available for my studies. Despite these limitations, I successfully completed my 10th standard education at the village school.

At the age of thirteen, for reasons I cannot recall, I made the pivotal decision to pursue a career in engineering. This led me to move from my native village to Pravaranagar to pursue higher education. Through hard work and determination, I excelled in my exams, securing the first position in the district during my 12th standard in 1984. This accomplishment opened doors for me to gain admission into the prestigious College of Engineering, Pune (CoEP). In 1988, I proudly graduated as an electronics and telecommunications engineer from CoEP.

My family is my strength and my wife and kids have supported me through thick and thin. My wife, Uma, shares a similar educational background as an E&TC engineer. Our children, Pranati and Omkar, followed in our footsteps and pursued careers in electronics and computer science engineering and are currently working in the United States.

CC: How has the education that you’ve garnered, shaped you into a better person to take on the challenges of the corporate world?

I perceive a significant transformation in the education system today. The internet has emerged as a valuable source of knowledge for those who are eager to seek and learn. With the world becoming a global village, accessing information and connecting with people has become remarkably convenient.

In contrast, during my time, the education system was vastly different, heavily reliant on reference books since there were no textbooks or internet available. Acquiring physical books posed a significant challenge in itself. At CoEP, the exam patterns were undefined, subjecting us to unpredictable questions during assessments. It may be difficult for the current generation to believe, but there were no ready-made kits for practical classes either.

In hindsight, I am grateful for those days as they shaped my resilience and instilled in me the determination to excel in the tasks I undertook. My career has thrived due to the obstacles I encountered, as they have moulded me into a better professional.

CC: What inspired you to pursue a career in the energy industry, and how did you get started in your current role?

My affinity for the field of Electrical and Power Electronics has always been strong, and it has only grown exponentially over the years. My initial job was in the energy sector, where I began to develop a deep appreciation for the products and technologies associated with energy. As I devoted myself to excelling in my role, my enthusiasm for the field grew, driven by the successes I achieved.

Throughout my career, I have been fortunate to work in various multinational companies, alongside talented and knowledgeable professionals from around the world. This exposure broadened my horizons and presented valuable opportunities to stay updated with the latest advancements in energy technologies. I believe it is essential for every professional not only to have a genuine passion for their chosen field but also to actively pursue ongoing learning and adapt to the ever-evolving demands of the present times.

CC: A corporate advice that changed your life.

Driven by a strong desire to establish my own business in the energy field, I embarked on my first entrepreneurial venture in 1990, just two years after graduating. Unfortunately, we had to halt the operations due to unavoidable circumstances. Undeterred, I continued to accumulate knowledge and experience over 22 years, working in a similar industry, nurturing my passion for entrepreneurship.

At the age of 45, I made the resolute decision to once again pursue my dream of starting my own business. Through unwavering dedication and effective teamwork, my new venture experienced remarkable success. This transformative experience profoundly shifted my perspective on business and instilled in me a deep sense of responsibility towards our country.

Motivated by self-inspiration and a drive to innovate, I directed my efforts towards developing solutions for critical sectors within our nation that faced restrictions on importing products. I became determined to contribute to the betterment of our country's infrastructure and welfare.

This personal journey of entrepreneurship has not only been fuelled by my own ambitions but also driven by a strong desire to make a positive impact on my country. I wouldn’t call this corporate advice but a happy realisation of continuously pushing the boundaries of innovation and contributing to the growth and advancement of our nation.

"I have a simple philosophy in life. It is to give 100 per cent in everything that I do. Aspiring professionals, select the right job. This is the first step towards a great career. It is vital to give your 100 per cent at work and excel in that. At the same time, it is wise not to think about money and perks. Focus more on the work in hand"

CC: How has the energy industry in India changed over the past few years, and how do you see it evolving in the future?

There have been many changes in the energy industry, and we have become more conscious about the environment. As a nation, we are targeting net-zero emissions by 2070. India’s emissions are relatively low in per capita terms, despite being the third-largest global emitter. A digital transformation is happening and that is the only path to efficiency and sustainability. The future lies there. Fuji Electric India strives continuously to provide energy-efficient products and solutions so that the planet is more sustainable and resilient. As India marches towards becoming a $5 trillion economy, the role of technology to create a sustainable future cannot be trivialised.

The main philosophy of Fuji Electric is reducing CO2 emissions and the same applies to Fuji Electric India, as well. All our products have been developed to maximise energy efficiency leading to a responsible and sustainable society. Fuji Electric India has been making significant contributions to the creation of a sustainable society by combining expertise in engineering services, optimal control technologies and IoT technologies. We have always focussed on high- efficiency power electronics products by using silicon carbide, and IGBTs for renewable, clean energy and saved energy such as fuel cells, solar inverters and high-efficiency UPS and high- performance AC drives.

The energy industry is the backbone of the country. With EVs coming in and cloud computing taking over, there is huge potential for Power electronics-based products.

CC: What role does innovation play in the strategy of Fuji Electric India, and how do you encourage your employees to be innovative?

No industry can sustain and progress without innovation. Fuji Global has been in the business for 100 years. This would not have been possible if not for our thirst for continuous innovations.

Being the Indian arm of this global giant, innovation is part of our routine. It helps us to be cost competitive and at the same time, offer technologically advanced cutting-edge products to our customers. It is not just our huge teams of R&D and engineering that work on innovation, we encourage employees at all levels to participate in the process through Kaizen. Fuji Electric India attributes its growth to the 1200+ employees who have helped the brand spread wings across the length and breadth of this country. Innovation has truly become our middle name and customers are constantly looking forward to our product upgrades and innovation.

CC: How do you approach leadership and management at Fuji Electric India, and what advice would you give to aspiring leaders in the industry?

When it comes to leadership and management at Fuji Electric India, I approach it with a focus on teamwork and respect for every employee's contribution. With a workforce of over 1200 employees, we have established more than 18 sales locations and over 80 service locations, which enable us to serve our customers effectively. Our dedicated team of over 400 service engineers works tirelessly to maintain a swift service turnaround time. Additionally, the hard work of our 100+ channel partners plays a vital role in bringing our products and solutions to our customers.

I firmly believe in empowering my employees and encouraging them to make decisions that align with the company's best interests. I avoid micromanagement and instead foster an environment where joint decisions are welcomed and supported. I advocate for taking calculated risks in our business endeavours and prioritise the retention of key talent. Continuous learning is highly encouraged within my team, and I emphasise the importance of maintaining good health.

For aspiring leaders in the industry, my advice would be to give their best effort and strive for excellence in everything they do. By dedicating themselves wholeheartedly to their work, they can make a significant impact and achieve success.

I perceive a significant transformation in the education system today. The internet has emerged as a valuable source of knowledge for those who are eager to seek and learn. With the world becoming a global village, accessing information and connecting with people has become remarkably convenient

CC: When not working, how do you spend your time?

My role as CEO at Fuji Electric India keeps me very busy. When I do get time, I browse the internet to keep myself abreast with industry updates and technologies. Next on my list would be reading books. I have quite a lot of them at home. I also have the habit of stocking up books to read in the future.

Another of my favourite pastime is to go on a long drive. I do that at least once a week. Sometimes, I prefer family and friends and on other days, I like to enjoy solitude.

CC: What’s your philosophy in life?

I have a simple philosophy in life. It is to give 100 per cent in everything that I do. For all aspiring professionals, I would ask them to select the right job. This is the first step towards a great career. It is vital to give your 100 per cent at work and excel in that. At the same time, it is wise not to think about money and perks. Focus more on the work in hand. There is a trend these days to switch jobs often and I think it is not good to constantly do that. Being loyal to the company you work for will help you excel to new heights.