Mumbai,
June 30th , 2026: The Bombay Chamber of Commerce &
Industry, India's oldest chamber of commerce, ushered in a new chapter at its
190th Annual General Meeting, with Sudhanshu Vats, Managing Director, Pidilite,
assuming office as President for 2026–27. Outlining a bold roadmap centred on
artificial intelligence, MSME transformation, and Mumbai's global
competitiveness, Vats called for the Chamber to evolve into a "capability
engine" that accelerates business growth while strengthening its role in
shaping public policy.
Addressing
members, Vats said, "As we celebrate the 190th year of the Bombay Chamber,
one thing stands out clearly: our relevance has never come from standing
still—but from evolving with purpose."
Building
on the Chamber's existing theme of Innovation, Inclusion and Impact, Vats
outlined three strategic priorities for the year ahead: placing Mumbai and
Maharashtra at the centre of the Chamber's agenda, empowering MSMEs through
artificial intelligence, and transforming the Chamber itself through AI-enabled
member services and policy engagement.
Highlighting
Mumbai's importance to India's growth story, he said, "Our ambition is
clear: to make Mumbai one of the world's most competitive and future-ready
economic centres of the 21st century."
On
MSMEs, Vats emphasised that while Maharashtra's one crore MSMEs are the
backbone of the state's economy, they must now become technology-enabled
enterprises. "Our vision is to help MSMEs compete not as small players,
but as intelligent, tech-enabled enterprises," he said, announcing
initiatives to simplify compliance, improve access to finance, and democratise
enterprise-grade capabilities using artificial intelligence.
He also announced that the Chamber itself would embrace AI by deploying intelligent digital agents to provide continuous member engagement, deliver data-driven policy insights and create an always-on advisory ecosystem. "As we call upon industry to transform, we must transform ourselves," he remarked.
Paying
tribute to outgoing President Rajiv Anand, Managing Director and CEO, IndusInd
Bank, Vats acknowledged his leadership during a challenging global environment,
stating, "Your clarity of purpose coupled with your humility and passion
helped the Bombay Chamber continue to build on its momentum as we navigated the
year successfully."
In
his farewell presidential address, Rajiv Anand reflected on a year defined by
Innovation, Inclusion and Impact, built around five strategic
pillars—sustainable economic growth, technology and innovation, human capital,
public-private partnerships, and modernising the Chamber.
Over
the past year, the Chamber organised more than 100 conferences, conclaves,
seminars, workshops and training programmes, while strengthening its voice in
policy advocacy, fostering industry-government collaboration, and expanding
international partnerships.
Reflecting
on his tenure, Anand said, "The Bombay Chamber is far more than India's
oldest chamber of commerce. It is a respected institution that has, for nearly
two centuries, championed enterprise, shaped economic thought, and contributed
meaningfully to the nation's development."
Expressing
confidence in the Chamber's future, he added, "Leadership is temporary,
but the impact of collective purpose endures," as he formally passed the
baton to Vats.
The
AGM's Chief Guest, Shri Sivasubramanian Ramann, Chairperson, Pension Fund
Regulatory and Development Authority (PFRDA), delivered the keynote address on
the role of pension funds in building a developed India by 2047. He emphasised
that economic progress must be measured not only by growth but by long-term
resilience and social security.
"A
nation does not become developed merely by growing large. It becomes developed
when growth is matched by resilience," Shri Ramann said.
Describing
pension systems as both an instrument of human dignity and a source of
long-term nation-building capital, he noted that pension funds can play a
transformative role in financing infrastructure, technology, innovation and
social development while providing financial security for India's ageing
population.
The
evening concluded with a Vote of Thanks by Sandeep Khosla, Director General of
the Bombay Chamber, who thanked the Chief Guest, Chamber leadership, past
presidents, board members, committee leaders, members and stakeholders for
their continued support. He also acknowledged the Chamber Secretariat for
successfully organising the landmark Annual General Meeting and reaffirmed the
Chamber's commitment to building on its rich legacy while embracing innovation
and future-ready growth.