Key Points

"Industry, friends, must be a force for inclusion by supporting MSMEs, promoting gender and caste diversity in leadership. It's easier said than done. Gender and caste diversity has to be appreciated in the right sense. When it comes to gender, we champion affirmative action but the real problem is when gender discrimination is subtle. When gender discrimination cannot be imparted in words by the normal desire to dominate," he said while addressing the 19th Edition of the CII-ITC Sustainability Awards in New Delhi on Thursday.

He underlined that the private sector must embrace its role not just as an economic actor but as a co-architect of India's future.

"The private sector must embrace its role not just as an economic actor but as a co-architect of India's future....... We are not mercenaries, we don't stand for exploitation. We believe in the positive unleashing of our energy to realise our dreams for the benefit of society at large. A truly developed nation is one where opportunity is not the privilege of the few but the right of all."

Underlining the sustainable development credentials of Bharat, Dhnakhar said, "Bharat is home to one-sixth of humanity. We are the world's largest economy at number four and we are the torchbearers of a development paradigm that seeks to harmonize the economy, the ecological and the ethical.....the global 2030 agenda for sustainable development cannot succeed on the planet without India's participation, without India's contribution, without India's proactive affirmative stance and fortunately, with the vision of its leadership, India has embraced this responsibility both with clarity and conviction......In this country, we seek prosperity with purpose, growth with inclusion, innovation with integrity......Let Indian industry become the torchbearer of this green revolution. Let us invest in renewable energy, green hydrogen, circular economy models, and carbon markets. Let us not treat sustainability as a compliance, but as a source of competitive advantage. The moment we take it in the compliance groove; the battle is lost."

Exhorting the industry leaders present there, he stated, "Indian industry must now expand its global presence -- not just in markets, but in ideas, standards, and solutions. Let us build "Brand India" on four pillars -- quality, trust, innovation, and ancient wisdom reimagined for modern relevance.....Let us go for Greenfield projects. Increasing the health sector, increasing the education sector, increasing facilities around metros is fine, but it does not lead to equitable balance and equitable balance is fundamental to cut into inequitable conduct.

"There was a time when the health and education sectors were means to give back to the society by businesses. Now there is a trend that health and education are turning out to be lucrative businesses. Commercialization and commodification of these vital segments that are essentially passages only to serve the society at large, to give back to the society, is an aspect on which the corporate India will have to reflect, devise a mechanism. Therefore, I urge the CII must lead by example by fostering a business culture that prioritizes equity, transparency and long-term value creation", he added.

Highlighting the role of the private sector in taking the nation forward, Dhankhar emphasised, "The Government's role is only of an enabler. Heavy obligations are on the corporate world. The government alone cannot, if I may say so, score the penalty goal. Government by itself cannot take those corners and corner kicks that result in goals. The private sector has a vital role to play because at the end of the day it is industry that drives innovation, creates livelihoods and builds the architecture of national development..."

Highlighting the role of the private sector in taking the nation forward, Dhankhar emphasized, "Government's role is only of an enabler. Heavy obligations are on the corporate world .... The government alone cannot, if I may say so, score the penalty goal. Government by itself cannot take those corners and corner kicks that result in goals. The private sector has a vital role to play because at the end of the day it is industry that drives innovation, creates livelihoods and builds the architecture of national development.......When I look at corporate India from a global perspective, I find it is an unparalleled reservoir of talent and exemplifies commitment and giving back to society. It has huge potential. Its synergetic exploitation with the government and government actors can lead to a quantum leap and geometric outcomes."

"The Government of India has moved beyond a government-centric approach to a whole-of-society framework. Sub-national and local governments, civil society, private sector players and communities, all are vital cogs in this engine of progress. But friends, this engine has to fire on all cylinders if we have to achieve tangible success", he further added.

Referring to the Indian economy's potential, he stated that the country was on the path of becoming a trusted economy and a reliable partner in the global value chain.

"India is not merely aspiring to become a five-trillion-dollar economy. India is on the right path of becoming a trusted economy, a reliable partner in the global value chain, a stable anchor in a volatile world. The world at the moment is in turmoil and turbulence. Global configurations show no signs of abating. Supply chain disruption is taking place. In this disturbed scenario, Bharat is a prominent voice," Dhankar said.

Encouraging the need of the industry to focus on research and development, Dhankhar stated, "Industry must take the lead in research and development and invest in indigenous design. I would reflect for a moment on this, this is an area where there needs to be more attention, greater convergence of the corporate world...research can't be for the self, research can't be for the shelf. Research cannot be just assimilation or surface scratching. Research has to correlate to making change on the ground".

Drawing attention to the skill requirements of youth, he stated, " Nearly two-thirds of our population is below the age of 35. Demographic youth dividend. The median age being 28, we are 10 years younger than China and USA......duty of the corporates in particular is that, this[demographic dividend] our biggest asset has to be channelized in the right direction and therefore focus on youth and skilling is fundamental. The government is doing its bit by a number of innovative steps but major part has to be done for effective transformation by the industry. It is our biggest asset. but an asset is biggest only if we harness it with vision and urgency. I urge industry to work very closely with academia, training institutes, and the government to design future-ready curricula."

- ANI