Sudhanshu Vats, Managing Director of Pidilite, has assumed office as President of the Bombay Chamber of Commerce & Industry, India's oldest chamber of commerce, for the term 2026-27. The announcement came during the Chamber's 190th Annual General Meeting held in Mumbai. Vats outlined a bold roadmap centred on artificial intelligence, MSME transformation, and enhancing Mumbai's global competitiveness, calling for the Chamber to evolve into a “capability engine” that accelerates business growth while strengthening its role in shaping public policy.
Strategic Priorities for the Year Ahead
Addressing members, Vats said, “As we celebrate the 190th year of the Bombay Chamber, one thing stands out clearly: our relevance has never come from standing still—but from evolving with purpose.” Building on the Chamber's existing theme of Innovation, Inclusion and Impact, Vats identified three strategic priorities: placing Mumbai and Maharashtra at the centre of the Chamber's agenda, empowering MSMEs through artificial intelligence, and transforming the Chamber itself via AI-enabled member services and policy engagement.
Highlighting Mumbai's significance to India's growth story, Vats stated, “Our ambition is clear: to make Mumbai one of the world's most competitive and future-ready economic centres of the 21st century.”
Empowering MSMEs with AI
On MSMEs, Vats emphasised that while Maharashtra's one crore MSMEs form the backbone of the state's economy, they must now become technology-enabled enterprises. “Our vision is to help MSMEs compete not as small players, but as intelligent, tech-enabled enterprises,” he said. He announced initiatives to simplify compliance, improve access to finance, and democratise enterprise-grade capabilities using artificial intelligence.
Vats also revealed that the Chamber would embrace AI by deploying intelligent digital agents to provide continuous member engagement, deliver data-driven policy insights, and create an always-on advisory ecosystem. “As we call upon industry to transform, we must transform ourselves,” he remarked.
Tribute to Outgoing President Rajiv Anand
Paying tribute to outgoing President Rajiv Anand, Managing Director and CEO of IndusInd Bank, Vats acknowledged his leadership during a challenging global environment. “Your clarity of purpose coupled with your humility and passion helped the Bombay Chamber continue to build on its momentum as we navigated the year successfully,” Vats said.
In his farewell presidential address, Rajiv Anand reflected on a year defined by Innovation, Inclusion and Impact, built around five strategic pillars—sustainable economic growth, technology and innovation, human capital, public-private partnerships, and modernising the Chamber. Over the past year, the Chamber organised more than 100 conferences, conclaves, seminars, workshops and training programmes, while strengthening its voice in policy advocacy, fostering industry-government collaboration, and expanding international partnerships.
Reflecting on his tenure, Anand said, “The Bombay Chamber is far more than India's oldest chamber of commerce. It is a respected institution that has, for nearly two centuries, championed enterprise, shaped economic thought, and contributed meaningfully to the nation's development.” Expressing confidence in the Chamber's future, he added, “Leadership is temporary, but the impact of collective purpose endures,” as he formally passed the baton to Vats.
Keynote Address on Pension Funds and Nation-Building
The AGM's Chief Guest, Shri Sivasubramanian Ramann, Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), delivered the keynote address on the role of pension funds in building a developed India by 2047. He emphasised that economic progress must be measured not only by growth but by long-term resilience and social security. “A nation does not become developed merely by growing large. It becomes developed when growth is matched by resilience,” Shri Ramann said.
Describing pension systems as both an instrument of human dignity and a source of long-term nation-building capital, he noted that pension funds can play a transformative role in financing infrastructure, technology, innovation and social development while providing financial security for India's ageing population.
Conclusion and Vote of Thanks
The evening concluded with a Vote of Thanks by Sandeep Khosla, Director General of the Bombay Chamber, who thanked the Chief Guest, Chamber leadership, past presidents, board members, committee leaders, members and stakeholders for their continued support. He also acknowledged the Chamber Secretariat for successfully organising the landmark Annual General Meeting and reaffirmed the Chamber's commitment to building on its rich legacy while embracing innovation and future-ready growth.
