Next-gen reforms: Driving bottom-up growth

Reforms need to empower agriculture and MSMEs, promote a balance between profits and wages and move from digitalisation to deregulation for sustainable growth, said Mr V Anantha Nageswaran, Chief Economic Advisor, Government of India at AIMA’s 52nd National Management Convention.

I want to share my thoughts on the next generation of reforms that India needs to sustain growth and strengthen resilience. Reforms are often seen as the responsibility of government alone, but in a country as large and complex as ours, both the state and the private sector must play their part. Only then can we unlock the full potential of the economy.

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We are living through a period of extraordinary global uncertainty. Geopolitical realignments, fragile fiscal positions in advanced economies, and volatility in trade and energy markets all create a difficult environment. Yet India has consistently managed to surprise on the upside. Real GDP grew by 7.8% and nominal GDP by 8.8% in the first quarter of this year, reflecting genuine economic momentum. Over the last four years, India has been one of the fastest-growing economies in the G20. I believe this strength comes from the cumulative effect of reforms undertaken over the past decade.

These reforms have laid a foundation of resilience. Physical and digital infrastructure have expanded rapidly. Small and medium enterprises are moving from fragmentation to formalisation. The Insolvency and Bankruptcy Code, the Goods and Services Tax, the Real Estate Regulation Act, and the consolidation of public sector banks have all reshaped the economy. Our COVID response was targeted and calibrated, helping protect both lives and livelihoods. More recently, simplification of tax processes, direct tax reductions, and improvements in GST procedures have enhanced business confidence.

Fiscal stability has been central to this effort. From a pandemic deficit of 9.2%, we have reduced the fiscal deficit to 4.4% this year. That discipline contributed to India receiving its first sovereign credit rating upgrade in three decades, lowering the cost of borrowing across the economy. Stable energy prices, maintained despite global shocks, have also provided critical support. These factors together suggest that India is now more resilient to global turbulence than is often recognised.

Looking ahead, I believe competitiveness and innovation must drive the next generation of reforms. For government, the priority is deregulation and reducing the cost of compliance. What I call the “cost of being honest” must come down, so that enterprises find it easier to operate transparently. For the private sector, the challenge is to move away from protectionism and toward productivity. Protection may preserve market share, but it does not expand the overall pie. Productivity, competitiveness, and innovation do. Where protection is sought, it must be time-bound and tied to measurable performance, as the East Asian experience has shown.

The other challenge is to balance technology and employment. AI and automation will raise productivity, but in a country with a young and growing workforce, technology must complement rather than displace labour. Social stability is as vital as fiscal or policy stability. Businesses should view this not as charity, but as enlightened self-interest.

In my view, structural reforms are a shared responsibility. Government and industry both have roles to play. If we stay focused on competitiveness, innovation, and inclusion, India can sustain growth, build resilience, and emerge as one of the world’s most dynamic economies in the decades to come.

Watch the full session- https://www.youtube.com/watch?v=qIG6y2b12kE

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Resilience and Growth in the New World Disorder

Resilience, innovation, and sustainability are key to building future ready businesses that thrive amid global disruption and evolving consumer needs, said Mr Sanjiv Puri, Chairman & Managing Director, ITC Limited at AIMA’s National Leadership Conclave

We are witnessing a world in flux, shaped by geopolitical shifts, climate challenges, technological disruptions, and evolving consumer expectations. In such a dynamic environment, resilience and sustained growth are no longer just strategic ambitions, they are essential for survival. At ITC, we have been consciously reshaping our strategies to be more agile, future ready, and deeply rooted in innovation and sustainability.

One of the most critical elements in navigating this disruption is building a relevant and future focused portfolio. Emerging consumer trends like health, wellness, digitisation, and sustainability are reshaping product expectations. We are actively aligning with these trends by investing in new age brands like Yoga Bar and Prasuma, creating offerings like “Right Shift” for health conscious consumers, and developing sustainable packaging solutions to reduce plastic use in our paperboards business. This is being driven by strong R&D platforms that we have built over time, such as our ITC Life Sciences and Technology Centre in Bengaluru.

Resilience in today’s context also means building robustness into our supply chains. With over 90 percent of our value addition happening within India, we have consciously localised operations to reduce dependence on global disruptions. But resilience goes beyond geography, it also means preparing for climate related risks. We have used AI based tools to model decadal risks across our locations and adapted strategies accordingly. In agriculture, we have scaled our Climate Smart Agriculture programme to over 3 million acres, helping reduce emissions and improve farmer incomes, proving that what is good for the planet can also be good for business.

Innovation remains central to our strategy. In today’s fast changing environment, legacy organisations must adapt quickly. It is not just about launching new products, but about staying ahead of the curve. Consumer demands, such as the need for enjoyable yet nutritious food formats, require deep investments in science and R&D. At ITC, our innovation culture is supported by strong institutional platforms and empowered teams aligned with a shared vision and clear accountability.

Sustainability is deeply integrated into our business model. It is not a separate agenda, it is embedded in every decision we make. From renewable energy contributing to over 50 percent of our total energy usage, to constructing only green certified buildings, to our hotels achieving net zero carbon and water status, we are committed to responsible growth. We view sustainability not just as a risk mitigator but as an opportunity for building competitive advantage and creating new markets.

The future of business will be shaped by ecosystems, not just individual enterprises. Collaborations across value chains, partnerships with academia, startups, and government initiatives are critical for innovation and long-term impact. As we look ahead, our focus remains on anticipating change, adapting boldly, and acting responsibly. Resilience and growth in this evolving world demand nothing less.

Watch the full session- https://www.youtube.com/watch?v=QtugSwN9y0E&t=226s

 

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Awakening the Spirit of Bharat: Leadership for a New Era

India is rising as a global leader, driven by digital innovation, economic progress, conscious leadership, emotional resilience and the timeless values of Bharat’s spiritual and cultural wisdom, said Sister Shivani, Motivational Speaker and Spiritual Mentor, Brahma Kumaris World Spiritual Organization.


In today’s always on world, leadership is no longer about strategy and execution alone. As I reflect on the kind of Bharat we aspire to build, a Swarnim Bharat, I am deeply convinced that we need a new kind of leadership. A leadership that is not just technical or economic but spiritual. One that begins with self-awareness, inner strength, and emotional independence.

I have come to realise that if we truly care for our people, and for the children of Bharat, the next generation of leaders, it is our moral responsibility to send happy parents home. The chain of stress that starts in the boardroom too often finds its way into the classroom and bedroom of a child. And what began as “work stress” in our vocabulary is now showing up in our children’s language as “I am depressed.”

For two decades, we made stress a status symbol. Today, I choose to break that legacy. I choose to stand for calm, for compassion, and for conscious disconnection. When I leave work, I choose to close the day, not just physically, but mentally and emotionally.

One simple but powerful shift I have made is to treat my thoughts as my responsibility. I no longer say “I am angry because of…” or “I am hurt because of…” That is emotional dependence. Instead, I now strive to be emotionally self-reliant, Atma Nirbhar. I do not let someone else’s actions enter and disturb my mind. That is where my leadership truly begins.

I have also learned that nature absorbs our vibrations. The fear, aggression, and stress we carry into our thoughts is not just harming our teams or families, it is harming the planet. So, if we are serious about restoring balance in the environment, we must first restore balance within.

And what does that look like? It looks like pausing before a meal, switching off devices, and saying, “I am powerful. I am happy. I am healthy.” It means looking at a glass of water and energising it with pure thoughts. It means beginning meetings with a minute of silence, just enough to align our collective intention.

Bharat has always had the tools. Our sanskriti has always known how to sustain swasthya, sambandh, and sattva. Now, the world is looking to us not just for ideas, but for inner mastery. But we can only share with the world what we first practice ourselves.

I choose to lead from the right side of my mind, gratitude, humility, love, cooperation, empathy. Not just because it feels good, but because it works. Because it empowers.

And because only such leadership can truly awaken the spirit of Bharat.

Watch the full session- https://www.youtube.com/watch?v=cKaLGl3KZSI

 

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Audacious India: Becoming Asia’s Paramount Power

India is set to lead the digital era with homegrown innovation, robust connectivity, and progressive policies driving its rise as a global technology powerhouse, Hon’ble Minister, Jyotiraditya M. Scindia, Minister of Communications; Development of North Eastern Region, Government of India at AIMA’s 10th National Leadership Conclave.

For decades, we’ve asked a question that echoed with hope: When will India rise? Today, in a world gripped by volatility, realignment of supply chains, and geopolitical flux, I believe the answer is clear—India’s rise is here, now, and unstoppable.

I often describe this moment in India’s journey through the analogy of the blockbuster film RRR. Like that cinematic triumph, India’s rise is Real, Rapid, and Resolute. Once listed among the “fragile five,” we’ve now surged from being the world’s 11th largest economy to the 5th, on track to overtake Germany and Japan by 2028. With a GDP approaching $4 trillion, we’re projected to grow to $6 trillion by 2030.

This transformation isn’t about short-term spikes—it’s the power of compounding. The U.S. didn’t become an economic giant through breakneck growth, but through consistent 3–4% growth over a century. India is on a similar trajectory, averaging nearly 8% decadal growth, which has pulled 250 million people out of poverty, birthing a confident and capable middle class.

What’s powering this rise? A decisive shift from revenue-based spending to capital investment. We’ve leapt from ₹1.5 lakh crore to ₹11 lakh crore in capital expenditure in just a decade. For every ₹1 invested, we’re generating up to ₹4.8 in long-term returns. That’s not just economics—it’s vision in action.

India today is not just confident, connected, and courageous—we’re also innovating across sectors. From embracing millets in agriculture to promoting spiritual wellness through International Yoga Day, our soft power is creating global impact. We’re not just exporting products—we’re exporting paradigms: organic farming, hospitality rooted in Atithi Devo Bhava, and a value-led approach to business.

Connectivity is another game-changer. The Northeast, once underdeveloped, is becoming a strategic hub with 17 airports and improved rail and highway links. This region will soon be a vital connector to Southeast Asia. Under Prime Minister Modi’s leadership, we’re building not just roads, but bridges to opportunity.

The telecom revolution tells a similar story. In just 22 months, we’ve achieved the fastest 5G rollout in the world, covering 99% of districts and reaching 82% of the population. With affordable data, digital highways like UPI and India Stack are reshaping financial ecosystems—46% of the world’s digital transactions happen right here.

And in this narrative, India Post is being reimagined as a rural fintech engine, turning a 164,000-strong network of post offices into touchpoints of economic inclusion.

So yes, this isn’t just India’s decade—it’s India’s century. A nation that once relied on the world (Vishwa par nirbhar) is now becoming a nation the world relies on (Vishwa Bharat pe nirbhar). From the digital frontier to the spiritual heartland, we are a country reclaiming our place in the global order—not just through potential, but through performance.

Together, let’s march forward—boldly, united, and audaciously.

Watch the full session- https://www.youtube.com/watch?v=E8cwfyWDTp0&t=427s

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India’s big opportunity: Managing the turns and the U-turns in the world

Mr Amitabh Kant, India’s G20 Sherpa, Government of India, at AIMA’s 10th National Leadership Conclave.

India can turn global disruption into opportunity by leading in green, digital and AI innovation, said Mr Amitabh Kant, India’s G20 Sherpa, Government of India, at AIMA’s 10th National Leadership Conclave.

We are living through a seismic reconfiguration of the global order. It’s not just about tariffs or trade wars—it’s about the tectonic shifts in geopolitics, economic globalisation, and technology that are reshaping our world. From my perspective, these changes present not a crisis, but a once-in-a-generation opportunity for India to assert itself on the global stage.

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Stakeholder Management, Business Ethics and the Challenges

Prof R. Edward Freeman at AIMA’s LeaderSpeak session.

Balancing stakeholder interests, transparency, and authentic CSR is key to building trust, loyalty, and sustainable success in corporate governance, said Prof R. Edward Freeman, Stephen E. Bachand University Prof of Business Administration, Elis and Signe Olsson, Prof of Business Administration, University of Virginia Darden School of Business at AIMA’s LeaderSpeak session.

When we look at sacred texts like the Vedas or the Mahabharata, we see that the core idea is about taking responsibility for the impact of our actions, not just for ourselves, but for all stakeholders those who are well-off as well as those who are struggling. This is where the concept of stakeholder capitalism comes from. Business ethics shouldn’t be separated from business operations. The traditional narrative that business is solely about making money for owners or shareholders no longer fits the reality. Business is not just about profits or maximising earnings. Instead, it’s about creating value and contributing positively to the world.

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Towards Viksit Bharat @2047

Prof Veezhinathan Kamakoti, Director, IIT Madras at AIMA's LeaderSpeak session

Prof Veezhinathan Kamakoti, Director, IIT Madras at AIMA’s LeaderSpeak session

Investing in digital infrastructure, research, and a technology-driven education system is crucial to realising the vision of a ‘Viksit Bharat 2047’ and shaping India’s future as a developed nation, said Prof Veezhinathan Kamakoti, Director, IIT Madras at AIMA’s LeaderSpeak session.

As we envision India as a knowledge and technology superpower, it’s essential to build a society rich in culture, inclusivity and prosperity, a ‘Viksit Bharat’. We need to develop a self-reliant India, that reflects our diverse identity, rooted in our heritage while embracing innovation. To realise this, it’s crucial for us to create an environment where every individual has the freedom to thrive in their unique capabilities, with the right education and opportunities.

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Unshackling Leadership in the Age of AI

Pradeep Khosla at AIMA’s 9th National Leadership Conclave

Pradeep Khosla at AIMA’s 9th National Leadership Conclave

Collaboration among industry, academia and government is key to ensuring responsible AI innovation and ethical standards, said Mr Pradeep Khosla, Chancellor, University of California, San Diego at AIMA’s 9th National Leadership Conclave.

I’d like to start by saying that AI is like the whole evolution of humankind and society is all about understanding nature, capturing nature, and using nature to improve productivity. Because we as human beings are very limited people in terms of our physical capacity to do work.

If you look at steam power, electricity, mechanical amplification, everything we did was to create like amplification of our capacity to produce more effectively, agricultural revolution was the same thing. So, I think if you think about AI, it’s about expanding our capacity, our mental capacity, expanding our ability to think in ways that we have not done before. Before we were the brawn part of it, now we are the brain part of it. So that’s what I think about AI.

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Afterburner: The next generation reforms

Mr Amitabh Kant, G20 Sherpa of India, Government of India

Mr Amitabh Kant, G20 Sherpa of India, Government of India

Mr Amitabh Kant, G20 Sherpa of India, Government of India highlighted India’s past successes and emphasised the need for agriculture to transition to manufacturing and sustainable urbanization, while advancing green goals and simplifying regulations at AIMA’s 51st National Management Convention.

 Last year, India grew at about 8.2%. We were the fastest growing large economy in the world and in the next three years we will overtake Japan and Germany to be the third largest economy in the world. In a world which is starved for growth, India is an outlier and India has emerged as a very resilient powerhouse driving growth.

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Net Zero and India at 100: Managing Growth with Sustainability

Arunabha Ghosh, Founder- CEO, Council on Energy, Environment and Water (CEEW) at AIMA’s LeaderSpeak.

Arunabha Ghosh, Founder- CEO, Council on Energy, Environment and Water (CEEW) at AIMA’s LeaderSpeak.

Net zero can be achieved through sustainable economic activities and collaborative policies involving governments, businesses, and society, said Mr Arunabha Ghosh, Founder- CEO, Council on Energy, Environment and Water (CEEW) at AIMA’s LeaderSpeak.

Climate change is an area which impacts every one of us. We know the volatility in precipitation and other factors that are the consequence of climate change. We have, the data is quite clear, as I believe, from the International Energy Agency, that approximately 50% of end energy consumption is in the form of heating and cooling. This may be in the form of both industrial heating and cooling, but also residential and institutional heating and cooling.

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