CEO NITI Aayog B.V.R Subrahmanyam delivers impactful message at Bombay Chamber's 189th AGM; Rajiv Anand takes over as Chamber president

Business Standard

2 days ago

VMPL
Mumbai (Maharashtra) [India], June 27: The Bombay Chamber of Commerce and Industry held its 189th Annual General Meeting in Mumbai, bringing together eminent business leaders, policymakers, and members of the Chamber for an evening of reflection, renewal, and forward-looking dialogue. Rajiv Anand, Deputy Managing Director, Axis Bank took over as the Bombay Chamber President while Sudhanshu Vats, Managing Director, Pidilite Industries, became Sr Vice President of the Chamber.
In his keynote address, B.V.R. Subrahmanyam, CEO of NITI Aayog, delivered an inspiring vision for India's future, highlighting the nation's remarkable transformation since independence. "In 1947, many doubted India's ability to survive - today we have emerged as a potential economic powerhouse, projected to become the third-largest economy by 2027."
Subrahmanyam emphasised the critical role of the Bombay Chamber in driving India's growth, highlighting Mumbai's potential as a global economic hub. While taking note of the vision shared by the incoming president, he appreciated the Chamber's efforts and stressed on the need to frequently engage with the government to implement Mumbai's economic plan, focus on micro, small and medium enterprises (MSMEs), and drive innovation and sustainability. Additionally, the Chamber should leverage Mumbai's position as a hub of industry, finance, and talent to drive India's leadership in frontier technologies like artificial intelligence (AI), quantum computing, and biotechnology.
The AGM started with Pinky Mehta, outgoing President Bombay Chamber and Director, Aditya Birla Sun Life Insurance Co Ltd. & CFO, Aditya Birla Capital Ltd. welcoming the members and sharing her reflections on the Chamber's impactful journey over the past year. Under her leadership, the Chamber championed four key pillars--Digitalisation, ESG & Sustainability, Ease of Doing Business, and Diversity, Equity & Inclusion--hosting over 100 knowledge-led events that advanced innovation, sustainability, and inclusive growth. She highlighted global engagements such as the Indian delegation to Cyprus during Prime Minister Narendra Modi's visit to the country, thought leadership at the International Agri Hackathon, the third edition of the Chamber's DEI Forum and Awards, and dialogues with diplomats and regulators. She also reaffirmed the Chamber's digital and green commitments through initiatives like the CSR in the Digital Era Conclave, the Green Growth Forum, and the Smart City Leaders' Conclave.
Following this, Rajiv Anand, President Designate, Bombay Chamber and Deputy Managing Director, Axis Bank, shared his vision for the year ahead under the theme 'Shaping the Future: Innovation, Inclusion, Impact.' He outlined five strategic priorities for 2025-26: catalysing sustainable economic growth, driving technology and innovation through the launch of a Centre for Emerging Technologies, empowering human capital with a focus on women and youth, deepening public-private partnerships, and modernising the Chamber for the next generation. He stressed the Chamber's mission to align closely with national priorities such as Atmanirbhar Bharat and Viksit Bharat@2047, and work in tandem with NITI Aayog on entrepreneurship, energy transition, and inclusive development.
In his keynote address, the NITI Aayog CEO also spoke about India's ambitious goal to become a developed nation by 2047, with a targeted gross domestic product (GDP) of $30 trillion and a per capita income of $14,000. He said that this transformation isn't just an economic target, but a national movement that requires participation from every citizen. He also stressed on India's rise as a friendly, non-threatening power with relevance for developing regions worldwide.
Subrahmanyam shared critical viewpoints focusing on several strategic areas. He spoke extensively on human capital development covering aspects like leveraging India's demographic dividend (median age of 29), expanding higher education to 9 crore students, increasing women's workforce participation and comprehensive skilling programs.
On the economic transformation front he spoke about expanding manufacturing from half a trillion to $8-10 trillion, becoming a global services hub, developing agriculture beyond traditional cereal crops and creating global-standard financial and banking systems.
Urban development, Subrahmanyam said, needs special focus wherein cities have to be prepared to accommodate 50% of population by 2047, creation of economic growth hubs and developing comprehensive urban infrastructure.
Subrahmanyam called for business and industry leaders to be agents of change, working together to achieve a bold and inclusive vision for India's future.
The evening also saw the launch of the "Dispute Resolution @ Bombay Chamber" website, an initiative focused on mediation as a structured and efficient tool for resolving commercial disputes. The launch was presented by Ashok Barat, Past President, Bombay Chamber and Mentor, Dispute Resolution @ Bombay Chamber & Director, Bata India, who emphasised the need for industry-led mechanisms to ease legal burdens and promote amicable solutions.
Concluding the evening, Sudhanshu Vats, Sr Vice President Designate, Bombay Chamber and Managing Director, Pidilite Industries, delivered the vote of thanks, expressing gratitude to the speakers, members, and stakeholders for their continued support and commitment. He reiterated the Chamber's vision to serve as a forward-thinking, solutions-oriented platform for business leadership and policy engagement, dedicated to building an inclusive and prosperous future for Mumbai and India.