THE LIEUTENANT GOVERNOR, DELHI

• President PHDCCI, Shri Rajeev Juneja

• Sr. Vice President, PHDCCI, Shri Anil Gupta

• Vice President, PHDCCI, Shri Sanjay Singhania

• CEO & Secretary General, PHDCCI, Dr. Ranjeet Mehta

• Distinguished members of the Industry and representatives of the business community

The completion of 121 years, is significant, not simply because, of the longevity, of an institution, but because, it reflects, the changing nature, of India’s economy.

When PHD-CCI was established, Indian enterprises, operated in, a very different economic, and political environment. Today, Indian businesses, compete in global

markets, attract international capital, develop technologies, build global supply chains, and increasingly create products, and services, for the world.

That transformation tells us, something important. India’s economic story, is no longer only, about the size of its market. It is increasingly about, the capabilities, of its enterprises, the quality, of its talent, the strength, of its institutions, and our ability, to convert opportunity, into productive investment.

Our Honourable Prime Minister, Shri Narendra Modiji, hasput the importance of this transformation, in very simple terms: “We have transformed, the ‘fear of business,’ into the ‘ease of doing business’.” The next phase is, to move from, ease of doing business, to the ease of scaling business, innovating, investing, and creating employment.

For Delhi, this question, is particularly important.

Delhi is the national capital, but it is also a major, economic ecosystem. It brings together, government and institutions, financial and professional services, technology companies, start-ups, educational institutions, entrepreneurs, and a large consumer market.

Its location, within the National Capital Region, gives businesses access, to one of the country’s largest concentrations, of talent, infrastructure, and economic activity.

The task before us is, to make these advantages, work together, more effectively.

For an entrepreneur, the business environment, is shaped by, practical realities— ease of approvals, efficient movement of goods, and people, access to skilled talent, finance and technology, reliable infrastructure, and the ability to expand, without unnecessary friction. These factors, directly influence, investment, employment, and growth.

This is why, the relationship, between government and enterprise, has to be based, on partnership. Government’s role, is to create, a predictable and enabling environment. Industry’s role, is to invest, innovate, create employment, and continuously improve productivity. Neither can substitute, for the other.

Our economic future, will also depend on, how effectively, we connect different parts, of the business ecosystem. Large enterprises, provide capital, markets, and scale. MSMEs are critical, to manufacturing, services, employment, and supply chains. Start-ups, bring technology, experimentation, and new business models. When these three levels, work together, innovation can move, much faster, from an idea, to a commercially viable product, and eventually, to global scale.

This is particularly important, for India’s manufacturing, ambitions. Building a factory, is only one part of building, an industrial ecosystem. We need suppliers, skilled workers,

logistics, research institutions, technology, reliable energy, finance, and access to markets.

The same principle applies, to technology. India has built, considerable capabilities, in digital public infrastructure, software, financial technology, and entrepreneurship. The next opportunity is, to move further into, artificial intelligence, semiconductors, advanced manufacturing, biotechnology, clean technologies, and other knowledge-intensive sectors. Access to technology, will not, be enough.

We need to think, about entrepreneurship, not simply, in terms of valuation, but in terms of, value creation.

For Delhi, this also means, creating more opportunities, for investment, beyond the traditional, commercial centres. Areas, such as Dwarka, and other emerging urban centres, can  become  important  locations,  for  new  businesses,
 

professional services, hospitality, healthcare, education, technology, and logistics.

From my years in diplomacy, I have seen, how international investors, assess a country. They look, not only, at the size of the opportunity, but at predictability,infrastructure, talent, institutional capacity, and the ability to execute. The same logic applies to cities. A globallycompetitive Delhi, strengthens, India’s proposition, to the world.

There is also a growing opportunity, to connect Delhi’s businesses, with international markets, and partnerships. India’s economic diplomacy, today increasingly involves, investment, technology, supply chains, skills, and innovation. Indian companies, are no longer, simply looking for foreign markets. They are increasingly, partners, in global value chains, and, in many sectors, sources of capital, technology, and expertise, themselves.

This creates a new responsibility, for Indian industry. Global competitiveness, cannot be built, only on cost. It must increasingly, be based on, quality, innovation, reliability, productivity, and the ability, to deliver at scale.

At  the  same  time,  growth  must  remain, employment-oriented. India’s demographic advantage, will become, an economic advantage only, if young people, have the skills, and opportunities, to participate productively, in the economy.

I would also encourage, greater participation of women, in the workforce, and in entrepreneurship.

As Delhi looks towards, the coming decade, I see an opportunity, to build an ecosystem, where investment, entrepreneurship, and employment, reinforce one another. Established companies, can provide markets, and mentorship, to younger enterprises. Start-ups, can bring