“AI will change the way we work. It is a change here to stay, not to be resisted. If you resist, it will hit you like a tsunami. Resisting it will disempower you. Leaning in will make you far more powerful than otherwise. Ride AI like a surfer,” Bhattacharya said, addressing an audience comprising business leaders, policymakers, diplomats, and members of the wider corporate community.
Welcoming the audience, Rajiv Anand, President of the Chamber and MD & CEO of IndusInd Bank, reflected on the Chamber’s journey since 1836 and its enduring role in shaping India’s economic and commercial landscape. Anand emphasised that the Foundation Day was not only a commemoration of the Chamber’s past but also a reaffirmation of its commitment to progress and transformation.
He noted that the Chamber’s membership today reflects the breadth of India’s enterprise ecosystem, ranging from some of the country’s largest corporates to a dynamic small and medium enterprise sector that now accounts for two-thirds of its base. “This diversity,” he said, “has been central to the Chamber’s ability to adapt and evolve over nearly two centuries.”
Anand also elaborated on how the Chamber reinforced its role as a trusted bridge between government and industry through an active committee structure, thought leadership initiatives, and effective dispute resolution. Guided by the theme Shaping the Future: Innovation, Inclusion, Impact, its engagements covered priority areas including AI and responsible innovation, arbitration, labour reforms, DEI, MSME development, capital markets, sustainability, agriculture, and infrastructure. The Chamber also strengthened its international footprint through overseas delegations, including India’s first business delegation to Cyprus, while continuing to develop forward-looking knowledge initiatives such as the CSR Year Book and the upcoming CEO’s AI Playbook.
“Together, these initiatives highlight the Chamber’s commitment to progressive business practices, enterprise development and reinforcing Mumbai’s position as a hub of economic leadership, supported by the continued partnership of sponsors and collaborators,” said Anand.
The Foundation Day also saw the unveiling of a book capturing DEI journeys authored by the winners of the third edition of the Bombay Chamber DEI Forum & Awards, held in June. Building on the momentum of the Awards, the initiative seeks to advance DEI conversations by presenting these journeys as practical and inspirational case studies for industry. The book titled DEI Dynamics in India Inc 2025 was unveiled in the presence of Arundhati Bhattacharya, Rajiv Anand, Latha Venkatesh, Executive Editor, CNBC TV18; Sudhanshu Vats, Senior Vice President, Bombay Chamber and Managing Director, Pidilite Industries Ltd.; Meenakshi Priyam, Chair, DE&I Committee, Bombay Chamber and Senior Vice President & Head – Human Resources (Automotive Division), Mahindra & Mahindra Ltd.; Pinky Mehta, immediate Past President, Bombay Chamber and CFO, Aditya Birla Capital; Dr Indu Shahani, Founding President & Chancellor, Atlas Skilltech University; and Sandeep Khosla, Director General, Bombay Chamber, reaffirming the Chamber’s commitment to diversity, equity, and inclusion as a cornerstone of responsible and future-ready business.
This was followed by a highly illuminating fireside chat that seamlessly blended personal experience with visionary thinking. Bhattacharya, a pioneering leader who has transformed banking and now leads Salesforce South Asia, shared a compelling perspective on technological transformation, with a particular focus on artificial intelligence and its implications for India’s economic landscape. Moderated by Latha Venkatesh, the conversation explored the intersections of technology, banking, and societal progress, anchored in a clear message, “Technological change is not something to fear—it is something to engage with thoughtfully and strategically.”
Addressing concerns around job loss, Bhattacharya reframed the debate and noted, “This is not a question of jobs going away, but of jobs changing.” While acknowledging that transition periods are always painful,” she emphasised the importance of preparedness, adding “What will differentiate people in the future is multidisciplinary capability, experience, and human judgement.” AI, she observed, enhances productivity by enabling faster, more informed decision-making. “Today, AI can point out discrepancies instantly,” she said, citing examples such as loan processing timelines shrinking from two days to thirty minutes. For MSMEs, she noted, “AI can pull data from multiple sources, not just historical financial statements, to enable better and faster access to credit.” In this sense, she stressed that AI will not take away opportunities; it will lead to a burgeoning of opportunities.
Reflecting on the banking sector, Bhattacharya remarked that liquidity is not leaving the system—it is flowing differently because behaviour has changed. This, she argued, requires banks to adapt, with a far deeper understanding of capital markets than ever before.
On the question of public sector banks, Bhattacharya observed that PSBs are delivering with one hand tied behind their back. She underscored that there is no lack of merit or talent, but highlighted the challenges of operating under multiple regulators and diffused priorities. “Privatisation is not the answer,” she said, adding, “What we need is clarity on what we want to achieve, the milestones we want to reach, and the removal of anything that stops institutions from getting there.”
The discussion concluded with a forward-looking call to action - India has the hunger to build, she noted, but we need the right push. Capital, capability, and mindset will be critical, and in an era defined by rapid technological change, she concluded, every organisation must become a learning organisation.
In his vote of thanks, Sudhanshu Vats, reflected on the key themes of the discussion and India’s evolving opportunity landscape. Acknowledging Bhattacharya’s session, he noted how digital adoption and artificial intelligence can help level the playing field, particularly for MSMEs. He also observed that technology is reshaping economic narratives, offering pathways that extend beyond traditional global comparisons.
(Write to us at editorial@bombaychamber.com)
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