Alumni Leadership: Managing Director at PerkinElmer – Payal Agrawaal, PGP 2008

Payal Agrawaal has always followed her curiosity and embraced change without fear. From consulting at BCG to leading businesses across industries and countries, she believes that good leadership is about people, clear strategy, and strong execution. Now at PerkinElmer, she is focused on driving quality and impact across sectors while staying connected to her purpose. In this conversation, Payal shares how IIMB shaped her, what excites her about India’s healthcare space, and how she finds balance while leading with intention.

Could you walk us through your professional journey up till now and share what has shaped your path along the way?

My professional journey has been very fulfilling so far. From the beginning, I was clear that I wanted to pursue a career in consulting after graduating, and I was fortunate to receive a valuable opportunity with BCG. Within a few years in consulting, I discovered that I enjoyed running businesses—a skill that came naturally to me due to my family background. This realization led me to transition from consulting to the corporate world.

Since leaving consulting, I have primarily held commercial roles. I have never considered sector as a limitation, as I believe the fundamentals of running a successful business remain the same: strategy, execution, and people. I have changed industries multiple times, even entering highly technical sectors such as medical devices. These experiences have only strengthened my belief that a capable senior executive can thrive across different industries.

I’ve also had the opportunity to lead businesses outside of India—in Singapore, Korea, and other Southeast Asian markets—which has significantly enhanced my leadership style. Working with multinational corporations has exposed me to effective systems, processes, and exceptional colleagues, accelerating my learning.

Overall, my diverse experiences have made me comfortable with uncertainty and willing to embrace new challenges fearlessly. In today’s constantly changing world, this adaptability is an essential skill to possess – embrace new challenges fearlessly. In today’s constantly changing world, this adaptability is an essential skill to possess.

At PerkinElmer, what is the change or impact you are looking to bring through your leadership?

PerkinElmer specializes in analytical instruments and services that are utilized across various sectors, including life sciences, research institutions, academia, food, and emerging areas like recycled polymers and semiconductors. Currently, there is a significant emphasis on quality control and Environmental, Social, and Governance (ESG) initiatives across industries. PerkinElmer aims to support these goals through its diverse product offerings. I aspire to drive rapid improvements in the industries we serve, ensuring that India is recognized for its high standards of quality across all sectors.

Healthcare is evolving rapidly, from technology integration to patient-centric models. What trends excite you most about the future of this sector?

Healthcare, in my view, is centered around availability, affordability, and accessibility. I strongly believe that all three aspects are essential for India, which remains a heavily under-penetrated market. The constraints within the Indian market are driving innovation, and I anticipate that many homegrown companies will challenge global players both in India and on the global stage. This potential for growth in the sector genuinely excites me.

How did your time at IIM Bangalore shape your approach to leadership? Are there any lessons from campus that you still lean on today?

At IIMB, I was introduced to case-based and project-based learning for the first time. Working in groups allowed me to better understand group dynamics, which prepared me for collaborating with cross-functional teams in the corporate world. Interacting with some of the best minds in the country also helped me prepare for the competition I would face outside the campus.

Leadership roles can be demanding. How do you manage your energy and maintain balance outside of work?

It is true that leadership roles can be very demanding. The most important part is to build a team around you that you can trust will be able to execute. Another key element is to find purpose in work – with purpose behind the work, work does not feel like work anymore.

Despite all of this, one needs to find balance to recharge outside of work. On a personal level, I love spending time with my daughter, and we do yoga together, which connects us. I am a very spiritual person and spend time meditating. Connecting with my soul helps me bring calm and peace into my life. I love interacting with others; therefore, traveling and meeting people also act as energy boosters for me.

Can you share a moment in your career when you faced a tough decision, and how you navigated through it?

After spending 18 years in the industry, I felt the need to take a break. My daughter, now a teenager, was entering her formative years, and I wanted to spend more time with her to cherish these moments. Taking a break from my career was not an easy decision. Very few people have the opportunity to do so, and it’s generally not recommended, as it can derail one’s career. However, I was confident that this break would allow me to reconnect with what is more important than anything else in life—my family and my health. I also believed that with my work experience and expertise, I would be able to re-enter the industry when I was ready. Therefore, I decided to take the plunge.s ready. Therefore, I decided to take the plunge.

What advice would you give young IIMB alumni who are looking to build meaningful careers with impact?

I encourage everyone to explore the opportunities and new experiences that life offers. While we often make decisions with a 10-15 year horizon in mind, the future is unpredictable. It’s important to live in the moment and take on roles that excite you at that time. There is no shortcut to success; whatever path you choose, give it your all. Every experience is unique, and if you pursue it with passion and dedication, it will lead to meaningful outcomes in the end.

Payal’s story reminds us to stay open to new opportunities and to follow what excites us. She shows that with passion and purpose, each experience can help us grow and build a meaningful career. Most importantly, she reminds us that embracing change fearlessly can lead to a life of learning and impact.