As the world grapples with climate change and rapid technological advancements, the manufacturing industry is radically transforming. India, emerging as a global manufacturing powerhouse, faces the dual challenge of accelerating growth while mitigating its environmental impact.

SKF, a global player in engineering solutions, is setting its sights on India with a vision to drive sustainable growth while fostering a culture of innovation and inclusivity. 

In an exclusive interview, Annika Ölme, SKF’s Chief Technology Officer, delves into the company’s ambitious strategy for India.

Here are the edited excerpts. 

What emerging trends or technologies are having the greatest impact on the manufacturing industry, and how is SKF positioning itself to capitalise on them? 

Digitalisation, AI, and circularity are transforming manufacturing. Circularity—recycling, reusing, and remanufacturing—requires more flexible, automated, and localised production systems. At SKF, we’ve positioned ourselves to stay at the forefront of these trends with a 3- to 15-year technology strategy. We’re actively working on technologies like additive manufacturing, digital twins, and sustainable materials, while also monitoring developments in fields like quantum computing to stay agile and prepared for future innovations.

Our technology strategy at SKF prioritises both adopting and leading in new technologies. From AI-driven processes to sustainable materials and additive manufacturing, we have structured plans to leverage these advancements effectively.

How does this focus on innovation and emerging trends tie into SKF’s long-term goals in India?

Our goals for India are deeply connected to SKF’s purpose and strategy, focusing on intelligent, sustainable growth. India, along with Southeast Asia, is one of our four main regions, where we’re working to bring the entire value chain closer—covering manufacturing, supply chain, and customer engagement. India’s economy is strong, and we see incredible growth potential here, both for our business and operations. We also recognise India as a talent-rich hub, especially in R&D and digitalisation, where we believe we can expand and do even more. This focus on India is essential for us, not just as a market, but as a core part of our global strategy.

Given your experience in fostering a psychologically safe culture at SKF, what specific strategies have been most effective in encouraging employees to share innovative ideas and take risks without fear of failure?

Psychological safety is central to fostering innovation at SKF. Our purpose, “Together, we reimagine rotation for a better tomorrow,” requires collaboration, open thinking, and learning—even from failure. Leaders at SKF, myself included, often share personal learning experiences and challenges, which sets an example that trying and learning is essential, not something to fear. This “dare to try, dare to experiment, dare to win” mindset is embedded in our culture. We’ve held psychological safety workshops across the company, where each team establishes a “contract” outlining how they communicate, collaborate, and learn from mistakes. This way, we’re creating a trusting environment that encourages risk-taking and innovation, supported by clear KPIs to keep us on track.

What challenges have you encountered in attracting and retaining female talent in technology and engineering, and how have you addressed them?

In management, we’re doing well, with around 35-40% female representation, and I’m proud of that. But we still have work to do in technical and engineering roles where gender diversity is lower. One challenge is that women may feel less likely to fit into male-dominated teams or be fully recognised for their contributions. Personally, as a female CTO, I’ve experienced moments where people assume I’m not the engineer or leader, and I’ve learned to address this by clearly introducing my role and expertise to set expectations. Beyond internal efforts, we’re working proactively to encourage girls in STEM from an early age, around 10-12, when interest often drops. This community-focused approach helps us build a stronger, more diverse talent pipeline for the future.

How does SKF manage the balance between technological innovation and sustainability, and could you share any specific projects or initiatives that demonstrate this balance?

At SKF, we don’t see technology and sustainability as separate; they’re interdependent. For example, we aim to be net zero in our operations by 2030 (Scopes 1 and 2) and to achieve net zero in our supply chain by 2050 (Scope 3). We’ve committed 3 billion Swedish Krona to decarbonize our operations, reaching 61% of our 2030 target already. Additionally, we’re focusing on clean steel sourcing, aiming for 31% by 2030. These sustainability goals align with our customers’ expectations and the growth of green industries like electric vehicles and wave energy. For us, sustainability is both a responsibility and a business opportunity—our innovations not only meet environmental goals but also create value for our customers.

What are some of the key factors that you believe are essential for effective global leadership, and do you have a particular leadership style?

In leading teams across 22 countries, I’ve found that good leadership is universal. Openness, transparency, and fairness are essential for building trust, no matter the location. A leader’s role is to create an inclusive environment where everyone, from entry-level employees to executives, feels respected and empowered. For me, it’s about giving clear guidance and goals but also allowing people the freedom to reach them in their own way. This balance of clear boundaries and flexibility drives performance and innovation, and it’s relevant across cultural contexts.