Former CII President and Chairman of Bharti Enterprises, Sunil Mittal, delivered a powerful address at the CII Annual Business Summit held on May 29 in New Delhi. His speech was a call to action for Indian industry to aspire for bigger goals and to build trust with all stakeholders as the foundation of the nation’s development. Mittal’s vision is not just about individual company growth but about enabling India to leverage its full potential on the global stage through strategic partnerships and a collaborative ecosystem.

Trust as the Bedrock of Growth and Partnerships
Mittal underlined that for businesses to succeed at scale, partnerships are essential — and trust is the bedrock of these partnerships. He encouraged the industry to move beyond short-term gains and focus on long-term relationships that include government bodies, investors, and society at large. Trust, according to him, will facilitate smoother collaboration and create an environment where innovation and growth can thrive.

Four Pillars for India's Growth Potential

Mittal identified four key pillars that the nation must focus on to fully unlock its potential:

1. Talent Dividend: India’s demographic advantage is often talked about, but Mittal stressed the urgency to convert this into a tangible asset. He acknowledged ongoing debates about reservations in the private sector but emphasized that India’s young and energetic workforce is a valuable resource not just for India but for the global economy. Developed countries face ageing populations and stricter immigration, positioning India as a future talent hub. The rapid rise of Global Capability Centers (GCCs) in India showcases this potential. However, to capitalize on this dividend, industry and government must collaborate to make the workforce job-ready for emerging technologies and industries.

2. Investment in Research & Development (R&D): Innovation and deep scientific research are crucial for sustainable growth. Mittal called on the industry to lead R&D efforts and demonstrate commitment by producing measurable results. This leadership would encourage governments to increase funding, creating a public-private partnership in R&D that can multiply benefits for the country. Without a strong focus on innovation, India risks falling behind in the global technology race.

3. Trade Reset with Value Addition: India’s exports have grown, but Mittal pointed out that there is significant room for improvement. He urged the industry to focus on purpose-driven products and services with higher value addition. A diversified export portfolio would make Indian trade more resilient and robust. He praised government initiatives like the semiconductor mission and investments in electronics manufacturing, highlighting them as steps in the right direction. Mittal believes these sectors, especially semiconductors, are strategically vital and will transform India’s economic landscape in the next decade.

4. Balanced Energy Strategy and Untapped Resources: While renewable energy is making strides in India, Mittal reminded the audience not to overlook hydrocarbons. He specifically mentioned the Northeast states, rich in oil and gas reserves but underexploited. Tapping these resources could be a gamechanger for India’s energy security and development. A balanced approach combining renewables and hydrocarbons is essential for long-term sustainable growth.

Policy Framework and Industry-Government Collaboration

Mittal emphasized that for India to realize its industrial potential, the government must provide enabling policies. But these policies should be co-created with industry participation. He called on industry bodies like the CII to proactively engage with the government to identify needs and facilitate solutions. The successful rollout of 5G technology in India was cited as a prime example of effective collaboration that combined urgency, clarity, and partnership between government and industry. Mittal urged replicating this model of collaboration across other sectors to accelerate India’s industrial transformation.

Sunil Mittal’s address at the CII Annual Business Summit is a clarion call to Indian industry to elevate ambitions, build enduring trust, and work hand-in-hand with the government to harness the country’s demographic and technological strengths. His insights highlight a roadmap based on talent empowerment, innovation-led growth, trade diversification, and collaborative policymaking, ensuring India’s emergence as a global economic powerhouse.

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