Pankaj Parate : Transforming The Manufacturing Industry Through Unmatched Technical Skills, Knowledge, & Innovation
Pankaj Parate
Managing Director
Though revolutionary changes can be arduous, some great leaders who have emerged in this industry show us it can also be exhilarating. CEO Insights’ exclusive team rendezvous with one such great leader in the manufacturing & engineering industry, Pankaj Parate, Managing Director, CAB Worldwide India, whose sheer persistence and passion for innovation have consistently paved the way for new opportunities and greater ventures.
Over the last 19 years, Pankaj has taken on progressively challenging roles in various functions, especially in R&D, quality, value engineering, production service, and supply chain. His focus has been on strategy, operations, product development, and various supply chain developments across reputed organizations.
With a journey defined by strong business acumen, technical expertise, strategic vision, and commitment to innovation, Pankaj is successfully spearheading CAB Worldwide across the global market. His significant contributions to India’s manufacturing sector and success encourage the rest of the manufacturing world to follow.
Let’s hear it from him!
What are the valuable lessons & skills you acquired from IIT Kharagpur?
Acquiring the Mechanical Engineering degree from IIT Kharagpur was a transformative experience in itself. Learning under seasoned faculty
members, who were extremely accessible, highly knowledge- able, and approach - able, helped us to have deeper discussions beyond the syllabus. The project-based learning, especially where I worked with the DRDO project of underwater vehicles, which the Government of India is using extensively for the safety of our country, taught us to research, think, and make analytical decisions.I also gained hands-on experience in applying theoretical concepts while working on the DRDO project. This helped me to develop both technical and communication skills. All the experience has built a mindset of resilience, adapt ability, and continuous learning that helps me to optimize my complex day to-day business issues.
What is one memory that stands out to you the most from the institute?
One of the most memorable moments during my IIT Kharagpur days was the final year’s last project submission and presentation. After months of late night efforts failed proto types, endless discussions, and debates, our team finally got everything working just two days before the final review, which left us with very little time to prepare the report and presentation.
But on the final day, presenting the project to the panel of professors and seeing it functioning in the particular prototype area as intended was incredibly satisfying. The thrill of solving some real engineering problems under a tight deadline and pressure was an experience worth remembering.
Tell us about your leadership approach.
My leadership style is based on the clarity of objectives, accountability for deadlines & actions, and empowering the team so that they can be accountable to deliver the right outcomes. I believe clear goals encourage data-driven decisions and give teams the autonomy to execute projects. Success is not just about making money.
Success is not just about making money, it strikes a balance between purpose -driven work and performance, resonating with teams across all levels
What is one memory that stands out to you the most from the institute?
One of the most memorable moments during my IIT Kharagpur days was the final year’s last project submission and presentation. After months of late night efforts failed proto types, endless discussions, and debates, our team finally got everything working just two days before the final review, which left us with very little time to prepare the report and presentation.
But on the final day, presenting the project to the panel of professors and seeing it functioning in the particular prototype area as intended was incredibly satisfying. The thrill of solving some real engineering problems under a tight deadline and pressure was an experience worth remembering.
Tell us about your leadership approach.
My leadership style is based on the clarity of objectives, accountability for deadlines & actions, and empowering the team so that they can be accountable to deliver the right outcomes. I believe clear goals encourage data-driven decisions and give teams the autonomy to execute projects. Success is not just about making money.
It strikes a balance between purpose driven work and performance, resonating with teams across all levels. I lead by example. I first try to do a task myself before delegating it to the team, and then communicate openly, which is then followed by focusing on developing their talents. I strive to keep my team agile and aligned with all the strategic goals being set in the organization.
What keeps you motivated?
What keeps me motivated is the opportunity to solve meaningful problems, create value for the management and stakeholders, including our suppliers, dealers, and customers. I find energy in working with a committed team that drives improvements and creates a tangible impact within and outside the organization. I strongly believe that small actions lead to larger outcomes, and that keeps me engaged.
Where do you aspire to be in your professional journey, going forward? What is your success mantra?
Going forward, I aspire to scale this organization that is both operationally excellent and strategically forward-looking, especially in building technology enabled businesses. I want to drive growth while nurturing talents and fostering innovation across global networks. My success mantra is ‘think long term, act decisively, and lead with integrity, always staying grounded in values, and consistently deliver results’.
Pankaj Parate, Managing Director, Cab Worldwide
An alumnus of IIT Kharagpur, IIM Indore, and Nagpur University, Pankaj is acknowledged with various academic achievements and several certifications. He has been instrumental in holding significant positions in top-tier companies and is currently leading CAB Worldwide India across global markets.
•Young Alumni Achiever Award from IIT Kharagpur in 2024
•Best Construction Equipment Company Award for Sany Heavy Industry India in 2019
•Process Quality Improvement Award in 2017 during his association with JCB India
•Best Practice Award for Innovative Process Development from the Tata Group in 2009
What keeps you motivated?
What keeps me motivated is the opportunity to solve meaningful problems, create value for the management and stakeholders, including our suppliers, dealers, and customers. I find energy in working with a committed team that drives improvements and creates a tangible impact within and outside the organization. I strongly believe that small actions lead to larger outcomes, and that keeps me engaged.
Where do you aspire to be in your professional journey, going forward? What is your success mantra?
Going forward, I aspire to scale this organization that is both operationally excellent and strategically forward-looking, especially in building technology enabled businesses. I want to drive growth while nurturing talents and fostering innovation across global networks. My success mantra is ‘think long term, act decisively, and lead with integrity, always staying grounded in values, and consistently deliver results’.
Pankaj Parate, Managing Director, Cab Worldwide
An alumnus of IIT Kharagpur, IIM Indore, and Nagpur University, Pankaj is acknowledged with various academic achievements and several certifications. He has been instrumental in holding significant positions in top-tier companies and is currently leading CAB Worldwide India across global markets.
•Young Alumni Achiever Award from IIT Kharagpur in 2024
•Best Construction Equipment Company Award for Sany Heavy Industry India in 2019
•Process Quality Improvement Award in 2017 during his association with JCB India
•Best Practice Award for Innovative Process Development from the Tata Group in 2009