South India will lead the way as India moves towards becoming a $5-10 trillion economy, says Confederation of Indian Industry (CII). Leading industry leaders expressed confidence at the CII South Zone Annual Conference held in Kochi.
Southern states will play a crucial role in India’s gross domestic product (GDP), said P. Ravichandran, Chairman, CII Southern Region. He expressed hope that the Indian economy will overcome this, although the conflicts in the Middle East may affect exports and inflation. He added that CII is in constant discussions with the government in this regard.
“Outgoing chairman Thomas John Muthoot pointed out that 38 to 40 percent of India’s total merchandise exports come from South India. The region accounts for about $124 billion in exports. He said the six South Indian states are not competing with each other for the same opportunity, but are complementing each other.
Dr. Suchitra K. Ella, Vice President, CII and Managing Director, Bharat Biotech International, said that it is imperative for India to focus more on research and development (R&D). She clarified that we cannot wait for technology to be transferred and we need to develop innovative ideas on our own.”
“South India has a big role to play in the manufacturing sector and artificial intelligence, said CII President Rajiv Memani. He also suggested that state governments should pay more attention to issues like ease of doing business and land digitalization. Volvo Group India MD Kamal Bali said that global companies like Volvo Group are increasing their investments here because of their confidence in India’s manufacturing capacity and human resources.”
