Mumbai, June 27,
2025 : 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.