India's next growth phase should focus on reforms, green energy and AI infrastructure: CII President Mukundan

Confederation of Indian Industry (CII) President R Mukundan, also the CEO of Tata Chemicals, has called for India to focus on three key areas to drive its next phase of economic growth: continued policy reforms, investment in green energy, and development of AI-related infrastructure. Speaking to CNBC-TV18 as Prime Minister Narendra Modi completed 12 years in office, Mukundan praised the government’s past efforts in infrastructure creation, digitalization, and economic reforms but stressed the need to sustain growth through innovation and technology. Mukundan argued that ongoing reforms should improve both the ease and speed of doing business, helping India attract more investment and manufacturing activity. He emphasized deeper economic engagement with the global economy through trade agreements and capital flows, noting that existing infrastructure like ports and airports would facilitate this integration. Sustainability and energy security were identified as critical priorities, with Mukundan pointing to India’s push toward renewable energy, solar projects, and battery storage. He linked energy strategy directly to AI ambitions, stating that energy and data center policies must align to support technological growth. A diversified energy mix—including renewables, nuclear, conventional fuels, offshore wind, and bio-resources—was recommended, with regulatory reforms in the nuclear sector urged to unlock additional investment. Mukundan also stressed the need for Indian businesses to increase spending on research and development, warning that technological change would determine future competitiveness. He cited past reforms like the Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), Production-Linked Incentive (PLI) scheme, and Make in India program as key contributors to economic efficiency, alongside digital infrastructure such as UPI and Jan Dhan accounts. The comments come as the Modi government marks a political milestone, with the Prime Minister serving 4,399 days—the longest continuous tenure for an elected Indian leader. Official data highlights achievements like 58 crore Jan Dhan accounts and ₹3 lakh crore in direct benefit transfers, alongside growth in UPI transactions and manufacturing sectors.