Mumbai : Leverage
artificial intelligence and technology as enablers, rather than fear them, was
central to the message delivered by Arundhati Bhattacharya, President and Chief
Executive Officer of Salesforce South Asia and former Chairperson of the State
Bank of India, at the Bombay Chamber of Commerce and Industry’s 190th
Foundation Day on December 17, 2025, in Mumbai.
“AI will change the way we work. It is a change here to
stay, not to be resisted. If you resist, it will hit you like a tsunami.
Resisting it will disempower you. Leaning in will make you far more powerful
than otherwise. Ride AI like a surfer,” Bhattacharya said, addressing an
audience comprising business leaders, policymakers, diplomats, and members of
the wider corporate community.
Welcoming the audience, Rajiv
Anand, President of the Chamber and MD & CEO of IndusInd Bank, reflected on
the Chamber’s journey since 1836 and its enduring role in shaping India’s
economic and commercial landscape. Anand emphasised that the Foundation Day was
not only a commemoration of the Chamber’s past but also a reaffirmation of its
commitment to progress and transformation.
He noted that the Chamber’s
membership today reflects the breadth of India’s enterprise ecosystem, ranging
from some of the country’s largest corporates to a dynamic small and medium
enterprise sector that now accounts for two-thirds of its base. “This
diversity,” he said, “has been central to the Chamber’s ability to adapt and
evolve over nearly two centuries.”
Anand also elaborated on how the Chamber reinforced its role as a trusted bridge between government and industry through an active committee structure, thought leadership initiatives, and effective dispute resolution. Guided by the theme Shaping the Future: Innovation, Inclusion, Impact, its engagements covered priority areas including AI and responsible innovation, arbitration, labour reforms, DEI, MSME development, capital markets, sustainability, agriculture, and infrastructure. The Chamber also strengthened its international footprint through overseas delegations, including India’s first business delegation to Cyprus, while continuing to develop forward-looking knowledge initiatives such as the CSR Year Book and the upcoming CEO’s AI Playbook.
“Together, these initiatives
highlight the Chamber’s commitment to progressive business practices,
enterprise development and reinforcing Mumbai’s position as a hub of economic
leadership, supported by the continued partnership of sponsors and
collaborators,” said Anand.
The Foundation Day also saw
the unveiling of a book capturing DEI
journeys authored by the winners of the third edition of the Bombay Chamber DEI
Forum & Awards, held in June. Building on the momentum of the Awards, the
initiative seeks to advance DEI conversations by presenting these journeys as
practical and inspirational case studies for industry. The book titled DEI
Dynamics in India Inc 2025 was unveiled in the presence of Arundhati
Bhattacharya, Rajiv Anand, Latha Venkatesh, Executive Editor, CNBC TV18;
Sudhanshu Vats, Senior Vice President, Bombay Chamber and Managing Director,
Pidilite Industries Ltd.; Meenakshi Priyam, Chair, DE&I Committee, Bombay
Chamber and Senior Vice President & Head – Human Resources (Automotive
Division), Mahindra & Mahindra Ltd.; Pinky Mehta, immediate Past President,
Bombay Chamber and CFO, Aditya Birla Capital; Dr Indu Shahani, Founding
President & Chancellor, Atlas Skilltech University; and Sandeep Khosla,
Director General, Bombay Chamber, reaffirming the Chamber’s commitment to
diversity, equity, and inclusion as a cornerstone of responsible and
future-ready business.
This was followed by a highly
illuminating fireside chat that seamlessly blended personal experience with
visionary thinking. Bhattacharya, a pioneering leader who has transformed
banking and now leads Salesforce South Asia, shared a compelling perspective on
technological transformation, with a particular focus on artificial
intelligence and its implications for India’s economic landscape. Moderated by
Latha Venkatesh, the conversation explored the intersections of technology,
banking, and societal progress, anchored in a clear message, “Technological
change is not something to fear—it is something to engage with thoughtfully and
strategically.”
Addressing concerns around job
loss, Bhattacharya reframed the debate and noted, “This is not a question of
jobs going away, but of jobs changing.” While acknowledging that transition
periods are always painful,” she emphasised the importance of preparedness,
adding “What will differentiate people in the future is multidisciplinary
capability, experience, and human judgement.” AI, she observed, enhances
productivity by enabling faster, more informed decision-making. “Today, AI can
point out discrepancies instantly,” she said, citing examples such as loan
processing timelines shrinking from two days to thirty minutes. For MSMEs, she
noted, “AI can pull data from multiple sources, not just historical financial
statements, to enable better and faster access to credit.” In this sense, she
stressed that AI will not take away opportunities; it will lead to a burgeoning
of opportunities.
Reflecting on the banking
sector, Bhattacharya remarked that liquidity is not leaving the system—it is
flowing differently because behaviour has changed. This, she argued, requires
banks to adapt, with a far deeper understanding of capital markets than ever
before.
On the question of public sector
banks, Bhattacharya observed that PSBs are delivering with one hand tied behind
their back. She underscored that there is no lack of merit or talent, but
highlighted the challenges of operating under multiple regulators and diffused
priorities. “Privatisation is not the answer,” she said, adding, “What we need
is clarity on what we want to achieve, the milestones we want to reach, and the
removal of anything that stops institutions from getting there.”
The discussion concluded with a
forward-looking call to action - India has the hunger to build, she noted, but
we need the right push. Capital, capability, and mindset will be critical, and
in an era defined by rapid technological change, she concluded, every organisation must become a learning
organisation.
In his vote of thanks, Sudhanshu
Vats, reflected on the key themes of the discussion and India’s evolving
opportunity landscape. Acknowledging Bhattacharya’s session, he noted how
digital adoption and artificial intelligence can help level the playing field,
particularly for MSMEs. He also observed that technology is reshaping economic
narratives, offering pathways that extend beyond traditional global
comparisons.
(Write to
us at editorial@bombaychamber.com)