R Dinesh, President CII: "India must focus on three areas to leapfrog in the next 5 years viz - big ticket reforms, competitive federalism and inclusive and equitable growth."
FinTech BizNews Service
Mumbai, March 22, 2024: Mr R Dinesh, President CII and Chairman, TVS Supply Chain Solutions while speaking in the inaugural session of the CII Annual Regional conference Conference on Credible India Enterprising West - Envisioning Developed India by 2047 on the ocassion of the CII Western Region Annual Meeting said, "Globally investors are looking at India because of its large attractive market and the need to diversify. From a time when India was being marketed, we have come a long way to witness a Credible India."
"India must focus on three areas to leapfrog in the next 5 years viz - big ticket reforms, competitive federalism and inclusive and equitable growth", added Mr Dinesh.
CII Western Region Annual Meeting and Conference witnessed several industry thought leaders deliberating on India's way towards towards becoming a developed nation and identifying action areas.
Mr Sanjiv Puri, President-Designate, CII and Chairman & Managing Director, ITC Ltd. while sharing his view of a developed India said, "Development should happen on the foundation of growth that is inclusive and sustainable. Only this can help to continue the virtuous cycle of investments".
Mr Puri said, "With extreme weather events on the rise, the world or even India cannot be considered as developed unless the impact of such events can be mitigated. There is a need to create a 'National Coalition for Adaptation' to address issues related to water and agriculture."
Dr Praveer Sinha, Chairman, CII Western Region and CEO & Managing Director, The Tata Power Company Ltd said, "Directional roadmap has to be set for the power sector as there is a Rs 5 lakh crore interest in energy transition space. Increasing demand for green energy is leading to the emergence of new transition solutions, which will materialise in the next 10 - 15 yrs transition.
"Sun is the new oil for India. The share of thermal in India's energy mix will reduce to 15-20 per cent going ahead from the current 70 - 75 per cent. With 26 cr households requiring energy, the solar rooftop scheme and digital technology will act as a catalyst in energy transition.", added Dr Sinha."
Ms Swati Salgaocar, Deputy Chairperson, CII Western Region & President, V. M. Salgaocar and Brother Pvt Ltd said, "Inclusiveness has to be viewed holistically with gender balance across the board. For a developed India, we need customised solutions rather than following the prevalent development metrics of developed countries.
Talking about the sustainability aspect of airlines in India, Mr Vinay Dube, Founder and CEO, Akasa Air said, "India has one of the largest fleets of modern aircraft and also the largest share of fuel efficient aircrafts. Poised for high growth, India may have 3,500 aircrafts by 2047."
Mr Stephen Cheung, President, and CEO, LA County Economic Development Corporation (LAEDC) and World Trade Center Los Angeles (WTCLA) said, "India is well positioned to leapfrog to the next stage of growth as it is at the right time and right place with the right mentality and attitude."
