Our late Chairman, Mr. Rajan Nanda, had a promising vision of creating a future-ready Escorts; an Escorts that would create enduring value for its stakeholders, and the country at large. Under the innovation-led leadership of our Chairman & Managing Director, Mr. Nikhil Nanda, Escorts today is well-positioned to not only develop indigenous engineering solutions for agriculture and infrastructure, but also create a futuristic eco-system of innovative and disruptive technologies within the organization. The Rajan Nanda Innovation Lab (RNIL) has been founded to serve this objective and help create our technology future by aggregating best practices of the world and collaborating with leading technology centers, academia and research intellect, as well as innovation labs that have established global benchmarks in agriculture, construction equipment and railways to bring in and process path breaking innovations.
RNIL will also through crowdsourcing identify and reach out to students, researchers, scholars and related stakeholders for technology innovations and incubation with appropriate funding support. It will also collaborate with the Escorts Knowledge Management Center (KMC) to bring concept R&D ideas and solutions which will be evaluated, measured and then be integrated in the current business stream or existing product lines. These solutions could also be an extended business opportunity in the related segments. The first phase will comprise innovations to build in value and benefits in our current tractor portfolio, innovative technology solutions in the space of smart implements and interesting value and benefit-oriented tech solutions in soil, water and other agricultural inputs. The focus will also extend to plant mutation, smart water management, cost efficient weed management, alternate fuel ecosystem, technology solutions to reduce crop wastage and spoilage, improving soil health, and productivity solutions along with electric transmission, telematics and autonomous technology. The lab will also look at creating a center of excellence in farming in collaboration with various advance agro-technology players. The solutions will be evaluated to address larger problems to enrich user experience, reduce input cost and help increase acreage and farming productivity for improved earnings. In extended phases, the lab will also look at innovative technology solutions for smart construction equipment and advanced railways technologies to add to our portfolio. In the long run, RNIL will focus on small investments in tech ideas and start-up incubation, design labs, IOT, and Al set-ups which will enhance our business portfolios and strengthen our R&D efforts by adding a disruption arm to it. RNIL is just not an innovation lab but also a belief that Escorts will do whatever it takes to innovate, develop and collaborate to bring in disruptive technologies aligned to our core engineering purpose of empowering the dreams of farmers, strengthen smart urban infrastructure, and bring in advanced comfort and safety in rail transport. At RNIL, we are committed to create an institution of excellence to build the Escorts of the future.