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Time of India
3 days ago
- Business
- Time of India
AI is a generational shift, with impact far greater than internet: Sunil Mittal
Artificial intelligence is a generational shift, with its impact far greater than the internet, that touches almost every aspect of our lives, said Sunil Bharti Mittal , chairman, Bharti Enterprises . Speaking at the CII Annual Business Summit 2025 , the former CII president said a significant impact of AI in India is its effect on employment, particularly given India's large, young workforce. Mittal said AI will create difficulties in areas like software engineering, noting that now even a layman can speak to a machine to write code. 'India has the largest workforce, the youngest developing in the world. There are 20 million children in the age group six to sixteen. In ten year's time, they will be sixteen to twenty-six, each wanting a job. AI will create difficulties in that area. Some parts are clearly visible today,' Mittal said. However, Mittal said AI will also create new opportunities and more jobs. 'Using AI will become absolutely important for everyone, especially in emerging countries like India,' the executive said. Mittal said that while Indian industry is committed to national progress, an enabling environment from the government is essential to remove bottlenecks and accelerate India's development journey. He presented an industry wish list to the government, including key asks on Ease of Doing Business, GST reforms, and corporate taxation. Mittal highlighted the demographic advantage India holds as other developed nations ages and immigration barriers rise. 'Industry and academia must go beyond surface-level collaboration and jointly build a globally competitive, job-ready workforce. Emerging fields such as AI, green energy, space communication, and next-gen telecom demand urgent attention,' he said. Mittal also expressed concern over India spending less than 1% of its GDP on research and development, asking the industry to step up and invest aggressively in deep tech and innovation. 'Our large domestic market gives us scale, but we need intellectual leadership too. Only then can the government scale its R&D efforts with confidence,' Mittal said. The executive also called for a trade reset, advocating for a fundamental shift in India's approach to trade and exports. 'We must diversify our export basket and focus on products and services that are needed globally. No raw material should leave our shores without value addition,' Mittal said.
Hans India
3 days ago
- Business
- Hans India
GCC growth steps in right direction: Sunil Mittal
New Delhi: Sunil Bharti Mittal, Chairman of Bharti Enterprises, on Thursday urged the industry to aspire for bigger goals and build trust with all stakeholders in the nation's development. Speaking at the CII 'Annual Business Summit' in the national capital, he highlighted four key pillars that need focus, in order to build on the country's potential. He also cited the example of India's success in 5G deployment. Mittal said the nation 'must recognise the demographic dividend'. India's young and energetic workforce can be an asset for the developed world, which is ageing and tightening its immigration policies, but the industry and government must work towards making this talent pool job-ready for the future, he mentioned. 'The rapid growth of global capability centres (GCCs) in India is a clear signal of this potential,' Mittal added. On the research and development front, the country needs to ramp up its investment in innovation as well as deep scientific research, and the industry needs to take the lead. A public-private partnership in R&D can create a multiplier effect in India, said Mittal. 'We need to build purpose-driven products and services and focus on exporting with greater value addition. Over the next 10 years, with the right investments, we can see a transformation - especially in semiconductors, which are becoming strategically vital,' Mittal told the gathering. He also cited the example of northeastern states that are rich in oil and gas reserves that are not yet fully tapped.
India Gazette
3 days ago
- Business
- India Gazette
Sunil Mittal advocates FTAs and One Nation, One Election for India's economic growth
New Delhi [India] May 29 (ANI): Bharti Enterprises Chairman Sunil Bharti Mittal on Thursday praised recently concluded Free Trade Agreements (FTAs) and advocated for One Nation, One Election for India's economic growth. Speaking at the Confederation of Indian Industry's (CII) Annual Business Summit-2025 in New Delhi, Bharti Enterprises Chairman Sunil Bharti Mittal said, 'Many new FTAs have been done. The UK has recently signed. Our Prime Minister really pushed hard so that we could get to the FTA with the UK. Australia was done earlier. The UAE FTA has been done recently. The BTA with the US, the FTA with the EU, and the negotiations with Saudi Arabia are in very advanced stages. I think we have to ensure that the government not just merely safeguards our interest while doing the FTAs, which it will be, but it's also important that we as industry and chambers don't ask for things which will make the FTAs difficult.' The central government is negotiating FTAs with the European Union and bilateral trade agreements with the US and many other countries. Mittal said that Free Trade Agreements (FTAs) will benefit both partners, and the industry will play its part. Mittal also advocated for 'One Nation, One Election' as proposed by the Modi government; he highlighted that more frequent elections pause economic growth. 'A lot of restrictions come on the economic activities, and our elections are repeatedly happening every few months, every other year. These multiple elections do create a slowdown in our economy. I think the ruling party and the Prime Minister himself analysed this and realised the importance of having One Nation, One Election, and if you can't do it in one step, perhaps it happens in two steps the first time. But eventually, my friends, we really need to get there,' Mittal said. Highlighting four key pillars for India's growth, he said talent dividend, research and development, trade research, and policy framework are the four main pillars of economic growth. Mittal said that the government is actively reforming, but it also needs support from the industry. 'The government also has certain expectations of us. We need to engage with the government to hear their views, seek their input, and ask what is needed from their side to build in the country. 5G was a fine example. Industry would have taken a few more years. The government engaged with us. Give us a very clear message that India would like to see 5G much faster than is currently being planned,' he said, explaining the need to engage with the government. Mittal said that the Indian industry will do everything possible to create more employment opportunities in the country. 'Industry will do everything possible to generate more employment, spend more in R&D, create import substitution, and expand its export basket. We need your help. We need enabling policies, especially in the area of ease of doing business,' he said. (ANI)
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Business Standard
3 days ago
- Business
- Business Standard
Need tax resolution scheme for corporates, industry: Sunil Bharti Mittal
Says government must launch Vivad se Vishwas scheme for corporates to release locked funds, backs a uniform 25% tax rate and 'one nation, one election' for economic efficiency Subhayan Chakraborty Delhi The government should introduce a Vivad se Vishwas-style tax scheme for India Inc. to free up the 'lakhs of crores of rupees' currently tied up in corporate litigation, Bharti Enterprises Chairman Sunil Bharti Mittal said on Thursday. Speaking at the CII Annual Business Summit, Mittal also said it was surprising that many corporates had not shifted to the 25 per cent corporate tax rate. Introduced by the government in 2024 to resolve pending appeals in income tax disputes, the VSV scheme should be reimagined for corporate India so that the Centre can secure 'very large amounts of money that can be put to good use now', Mittal stressed. 'Maybe the government will win in 10 years' time and that money may become available to it then. Why not settle it now on the lines of the VSV?' he said, adding that such a step would release the industry from past litigations and allow it to focus on the future. Mittal's comments carry significance given that Bharti Airtel and Bharti Hexacom continue efforts to reduce the ₹43,980 crore in adjusted gross revenue (AGR) dues owed to the Centre. As part of a broader tax reform initiated in 2016–17, the Centre had, through the 2019–20 Budget, extended the simplified 25 per cent rate—provided exemptions were foregone—to all domestic companies with an annual turnover of up to ₹400 crore, up from ₹250 crore. The policy was aimed at benefiting approximately 99.3 per cent of Indian firms, but many have yet to transition to the new regime. 'Let's also get rid of the old fascination with those exemptions and move on to a simplified flat 25 per cent tax rate,' Mittal said. Mittal also argued that India loses valuable economic opportunities during election months each year and called on industry to support the idea of 'one nation, one election'. Need to be reasonable on FTAs On trade, Mittal pointed out that ongoing bilateral talks for free trade agreements (FTAs) with the United States, European Union, and Saudi Arabia were in advanced stages. He urged industry associations not to demand provisions that could complicate the negotiations. 'We should have a reasonable outcome for those markets to open up for Indian companies, as we open our markets,' he said. At the same time, he strongly advocated for import substitution, arguing that every rupee of import saved by manufacturing domestically results in an equal amount of foreign exchange saved. Digital opportunity amid migration barriers Mittal also noted that global openness to immigration was shrinking, despite ageing populations worldwide. 'Our young people, our engineers, our trained professionals—nurses, doctors, teachers—are not going to get as easy access as they've had in the past. Thankfully, the world has moved to a digital medium. From the comfort of their homes in cities or villages, they can now serve the globe,' he said. Focus on job creation and regional potential Addressing a large audience of industry leaders, Mittal emphasised the need to prioritise job creation. 'One and a half million engineers are being produced in the country every year—more than the US and China put together. All of them need to be harnessed. This energy needs to be harnessed,' he said. He also urged industry to invest more in tapping the hydrocarbon potential of India's North-East.
Time of India
3 days ago
- Business
- Time of India
Artificial intelligence is a generational shift, with its impact far greater than the internet: Sunil Mittal
Artificial intelligence is a generational shift, with its impact far greater than the internet, that touches almost every aspect of our lives, said Sunil Bharti Mittal , chairman, Bharti Enterprises . Speaking at the CII Annual Business Summit 2025 , the former CII president said a significant impact of AI in India is its effect on employment, particularly given India's large, young workforce. Mittal said AI will create difficulties in areas like software engineering, noting that now even a layman can speak to a machine to write code. 'India has the largest workforce, the youngest developing in the world. There are 20 million children in the age group six to sixteen. In ten year's time, they will be sixteen to twenty-six, each wanting a job. AI will create difficulties in that area. Some parts are clearly visible today,' Mittal said. However, Mittal said AI will also create new opportunities and more jobs. 'Using AI will become absolutely important for everyone, especially in emerging countries like India,' the executive said. Mittal said that while Indian industry is committed to national progress, an enabling environment from the government is essential to remove bottlenecks and accelerate India's development journey. He presented an industry wish list to the government, including key asks on Ease of Doing Business, GST reforms, and corporate taxation. Mittal highlighted the demographic advantage India holds as other developed nations ages and immigration barriers rise. 'Industry and academia must go beyond surface-level collaboration and jointly build a globally competitive, job-ready workforce. Emerging fields such as AI, green energy, space communication, and next-gen telecom demand urgent attention,' he said. Mittal also expressed concern over India spending less than 1% of its GDP on research and development, asking the industry to step up and invest aggressively in deep tech and innovation. 'Our large domestic market gives us scale, but we need intellectual leadership too. Only then can the government scale its R&D efforts with confidence,' Mittal said. The executive also called for a trade reset, advocating for a fundamental shift in India's approach to trade and exports. 'We must diversify our export basket and focus on products and services that are needed globally. No raw material should leave our shores without value addition,' Mittal said.
