In an exclusive interaction with Business Today at the World Economic Forum in Davos, Rajiv Memani, Chairman of EY India and President of the Confederation of Indian Industry (CII), shares his key takeaways from the global summit. Memani highlights that while Artificial Intelligence is becoming pervasive, its impact on return on investment will take time, stating, “the transformation journey is a three to five year journey.” He discusses the necessity of supply chain resilience amidst global uncertainty and the emergence of a “coalition of the like-minded” in international trade. Addressing India’s domestic growth, Memani defends the signing of MOUs at Davos, noting the positive aggression shown by Indian states in attracting investment through sector-specific policies like the Global Capability Centres (GCC) framework. He further emphasizes the need for rapid deregulation and easing compliance burdens for MSMEs to maintain India’s competitive edge in the global market.
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