In Conversation with Amit Bhasin, CLO and Group General Counsel, Marico Limited

Ashima: Could you share your journey to becoming the Chief Legal Officer? What were the pivotal moments key decisions or people who shaped your career?

Amit: My journey as General Counsel has been unconventional. I began my professional journey as a company secretary where I had the privilege of affiliating with well-governed entities such as DCM Shriram Consolidated Limited and Hindustan Unilever before transitioning to Marico Limited. 

Originating from a compliance background and having worked as a company secretary, I have always believed that governance plays a critical role in a company’s ethos.

Though I initially entered the professional realm as a governance specialist, I always aspired to have a more holistic career, where I would have the scope to more effectively contribute to the larger business imperatives. Therefore, when the opportunity to delve into core legal domains presented itself, I embraced the challenge wholeheartedly. Progressing in my career, I actively pursued assignments that were not only more demanding but also incorporated legal business partnering elements. This deliberate approach allowed me to carve out a distinctive role as a full-time legal professional. Despite the transition from a governance specialist to a fully-fledged legal professional, the values and principles instilled early in my career have remained unwavering.

Throughout my professional journey, I have had the privilege of collaborating with some of the industry's foremost minds. Two individuals, in particular, have been instrumental in shaping my legal career: Mr. Ashok Gupta, the former General Counsel at Aditya Birla Group , and Dev Bajpai, presently serving as the General Counsel at Hindustan Unilever. I am grateful for their guidance over the years and strive to achieve the ideals they set out for me during my career. 

Ashima: As a Chief Legal Officer, what does a typical day look like for you, and what are the most challenging aspects of your role?

Amit: As the Chief Legal Officer, my day revolves around facilitating business objectives and goals assuring our every business decision complies with regulatory requirements. I focus on implementing mitigation strategies, supporting both the business and governance systems, and actively building the capabilities of my team to adapt to the evolving landscape. Therefore, in my opinion, the ultimate objective of any General Counsel also involves bringing in a combination of business understanding and legal inputs. 

One of the most challenging aspects of my role is consistently finding the right balance between addressing business priorities and adhering to regulatory norms, ensuring alignment with legal requirements while enabling the organisation to thrive in a competitive environment.

Ashima: What is your mantra for balancing the legal risks with business opportunities when advising the executive team?

Amit: I believe that a General Counsel's role includes working in tandem with the organisation’s larger goals and vision. Therefore, the role that we play here is to bring legal expertise to the front, which can be considered while making strategic business decisions. It entails unlocking business opportunities by employing legal language to find the optimum solution. The key lies in understanding the business thoroughly and overlaying my legal knowledge onto that foundation. In essence, I approach my role as a business person embedded in the executive team, equipped with comprehensive legal expertise to strike the right balance between legal considerations and business objectives.

Ashima: In a landscape filled with regulatory complexities, how do you act as a business enabler rather than a roadblock?

Amit: At the outset, as business leader you need to understand the business and business priorities clearly. You need to be clear of the regulatory framework in which your business operates. I endeavour to foster an environment where regulatory challenges become opportunities for strategic growth. Navigating the intricate web of laws and regulations unique to our industry, including those governing data privacy and intellectual property, requires a proactive stance. By keeping the business constantly updated and well-prepared for any potential risks, I ensure that compliance is seamlessly integrated into our operations, minimizing disruptions and fostering a culture of risk mitigation and compliance.

Ashima: Any regulatory change that you are particularly monitoring to see how it may impact your business?

Amit: Currently, one regulatory change that is under close scrutiny is the evolving landscape of data protection laws. By staying abreast of these changes, we aim to not only maintain compliance but also capitalize on emerging opportunities within the evolving regulatory framework. This proactive approach underscores our commitment to not merely reacting to regulatory shifts but strategically leveraging them for the benefit of our business.

Ashima: Global data privacy and protection: With the data privacy landscape constantly evolving and becoming more complex globally, I'm curious about your approach. Could you share any positives, concerns or challenges posed by the domestic data protection law (The DPDP Act that awaits notification) and other data protection laws across the globe?

Amit: Respecting Privacy of Individuals and keeping the interest of such individual paramount is at the core of any data privacy regime. The new data protection law introduced in India is concise, articulates the key principles, serving as a structured framework for compliance. Responsible companies, such as ours, are actively embarking on a journey to construct a robust data privacy framework, prioritizing and respecting the data of all consumers. We have commenced stream of work to establish the necessary systems and controls within our organization. This initiative aims to ensure our proactive compliance with the impending data protection law, reinforcing Marico’s commitment to safeguarding consumer data. You need to build a culture of privacy in the organisation and that’s a process.

Like any new law, this piece of legislation may have its shortcomings; however, it is a step in the right direction towards protecting the privacy of Indian citizens. We can hope that during the consultation process for subordinate legislation some of the concerns can be addressed and more clarity can be brought for seamless implementation.

We can hope that during the consultation process for subordinate legislation some of the concerns can be addressed and more clarity can be brought for seamless implementation.

Ashima: How does your organization integrate ESG principles into its legal strategies and business operations, and what challenges have you faced in aligning these principles with corporate objectives?

Amit: Marico has always viewed business operations through the lens of sustainability, even before it became the norm in corporate India. There has been a growing awareness within the business ecosystem about the need for greater accountability as well as a commitment beyond just maximising profits. This extends beyond mere compliance to an integrated approach where ESG principles are seamlessly woven into our legal strategies and daily business operations. Over the years, Marico has transitioned towards a more comprehensive and strategic CSR approach focused on integrating responsible business practices, community development, and environmental stewardship into its core operations. Moreover, our overarching focus on sustainable value creation for diverse stakeholders encompasses all our business endeavours. We aim to bring about sustainable transformation in society by nurturing and empowering communities.

Ashima: Can you describe your leadership philosophy and how it influences your approach to team management? 

Amit: I have always believed in the philosophy of 'Human Leadership,' prioritizing the well-being of individuals and treating them with the same respect one would expect. This involves practicing empathy and being attuned to the needs of team members. I believe in acknowledging and celebrating the diverse strengths within the team, fostering an environment where everyone is granted respect and the freedom to express themselves. By establishing a humane connection with the team, the workplace transforms into an enjoyable space where conversations are constructive, and even challenging discussions are approached with the right spirit. This approach cultivates a culture of trust and fosters meaningful relationships within the team.

By establishing a humane connection with the team, the workplace transforms into an enjoyable space where conversations are constructive, and even challenging discussions are approached with the right spirit.

Ashima: What is your vision for the legal department in the next five years, and how do you plan to achieve it?

Amit: The pace of change in the world is accelerating faster and so is the business demands, complexities around it. Legal’s role in business is no exception and I believe in next five years legal teams will be engaging in substantially different issues and spending time on matters which will be different from today. My vision for Marico Limited’s legal department in the next five years is centred around keeping pace with the evolving business landscape and truly becoming a tech-enabled and future ready team. We aim to integrate technological advancements into our processes, ensuring efficiency and adaptability. Additionally, we will focus on staying ahead of legal trends and industry developments, positioning ourselves as thought leaders within the FMCG sector.

Legal’s role in business is no exception and I believe in next five years legal teams will be engaging in substantially different issues and spending time on matters which will be different from today.

Ashima: Talent development and retention of top talent worries many organisations. What strategies do you employ to develop and retain top legal talent within your organization?

Amit: I truly believe that every talent is a good talent and can be shaped into great talent with right inputs. One must really invest in talent by giving them diverse experience and an appreciative culture to nurture them into competent professionals.

One must really invest in talent by giving them diverse experience and an appreciative culture to nurture them into competent professionals.

At Marico, promoting a culture of diversity, inclusion, openness, transparency, and meritocracy has helped us not only attract but also in retaining our top talent.  As an organisation we believe in growing by scaling the potential of our members and hence focus on promoting the individual growth of members. 

The definition of success is different for each resource, as an organization, we attempt to understand individual purposes, and mentor them towards achieving it. Thus, we encourage members to decide their own goals and development paths.

Ashima: What is your favourite book or podcast that has significantly influenced your professional or personal life?

Amit: There are two books that have stood out for me: Before Memory Fades by Fali S. Nariman which is applicable for the professional sphere and my most recent read Atomic Habits by James Clear.