“The future of Indian industry is secure with effective scaling of business ecosystem, logistics, technology, innovation and the smooth coexistence of large enterprises, MSMEs and start-ups”, says Hon’ble Sardar Taranjit Singh Sandhu, Lt. Gov. Government of NCT Delhi at PHDCCI’s 121st Annual Session
10th October 2026, New Delhi : Addressing the 121st Annual Session of PHD Chamber of Commerce and Industry (PHDCCI), Chief Guest Hon’ble Sardar Taranjit Singh Sandhu, Lt. Gov. Government of NCT Delhi, said that by aligning governance, infrastructure, skills, technology, investment facilitation and enterprise development, the country can strengthen its position as a competitive destination for international business and advance towards a more productive, innovative and globally integrated economy.
Hon’ble Lt. Gov. Government of NCT Delhi congratulated PHDCCI on completion of 121 years, an important milestone, which also reflects the strength of India’s economic story. India has transformed from fear of doing business to ease of doing business. The next phase is ease of scaling business, innovating and creating employment.
A large consumer market provides an important foundation for economic growth, but market size alone does not determine international competitiveness. Businesses also assess whether a country offers the capabilities, infrastructure and institutional conditions necessary to serve that market efficiently and use it as a platform for wider expansion.
In his address he laid down the path for India’s next leap:
First, talent and quality of labour. A competitive economy requires a skilled, adaptable and productive workforce. The focus must be on improving employability, strengthening industry-oriented skills, promoting vocational training and preparing workers for emerging technologies, advanced manufacturing and new service-sector opportunities.
Second, technology and innovation. Technology adoption, research and development, entrepreneurship and the commercialisation of new ideas must become central to economic growth. Innovation should translate into better products, improved services, new business models and higher-value economic activities.
Third, investment and value creation. Investment should be viewed not merely in terms of capital inflows, but also through its contribution to employment, technological advancement, productivity and domestic value addition. The objective should be to attract enterprises that build capabilities, strengthen industrial and service-sector ecosystems, and generate sustainable economic growth.
The next phase of economic development should therefore focus on transforming market potential into productive capacity. This means enabling investment to create employment, skills to improve productivity, technology to support innovation, and efficient logistics and supply chains to reduce business costs, he added.
Ease of doing business should be understood not merely as a reduction in paperwork, but as a comprehensive effort to improve the operating environment for enterprises, he said. Simplified approvals can reduce the time and cost of establishing businesses. Efficient logistics can improve competitiveness.
Access to skilled labour and technology can raise productivity. Strong supplier networks can support expansion. Together, these improvements can encourage investment, generate employment, strengthen enterprise capabilities and contribute to economic growth.
The emphasis must be on measurable improvements in business outcomes rather than procedural reform alone which is in line with the Prime Minister’s vision of Ease of Doing Business, this administration is committed to a transparent, efficient and investor-friendly ecosystem.
Apart from market size, talent, stability and predictability, international businesses assess a country’s overall attractiveness as a location for investment, production, sourcing, trade and regional operations. India has the demographic advantage and we have the opportunity to turn this into economic advantage, especially greater participation of women in entrepreneurship.
Delhi must emerge as a centre of enterprise, investment and employment, where businesses thrive and young people find meaningful, income-generating work. But our growth must be clean, non-polluting and labour-centric, so that economic progress turns directly into livelihoods for the people of Delhi. That is the principle behind our push to make Dwarka a major investment hub.
Hon’ble Sardar Taranjit Singh Sandhu presented the PHDCCI Business Practices & Awards 2026 to eminent achievers for their contribution to Indian enterprise, innovation, and social responsibility. The distinguished awardees included:
PHDCCI Visionary Entrepreneur of the Year Award – Mr. Ritesh Agarwal, Founder & Chairman, PRISM — Parent of OYO
PHDCCI MSME Excellence & Growth Leadership Award – Mr. Vipen Jain, Founder & Chairman, Starcap Wellness Private Limited – Brand: Fitspire
PHDCCI Women Entrepreneur Excellence Award – Ms. Avarna Jain, Vice Chairperson, Saregama India Limited
PHDCCI New Age Business Leadership Award – Mr. Sidhantt Suri, Founder & CEO, Momentum Private Limited
PHDCCI Corporate Social Impact & Sustainability Award – Ms. Saloni Goel, Sr. Director, Sustainability & Value Creation, Coca-Cola India Private Limited
PHDCCI Public Sector Excellence & Nation-Building Award – Dr. K.P. Mahadevaswamy, CMD, NBCC (India) Limited
PHDCCI Lifetime Achievement Award was presented to Mr. Sanjay Bhatia, Managing Director, Hindustan Tin Works Limited, Former President, PHDCCI for his contributions to India’s industry and for his illustrious career of over 47 years of experience, with representation across various industry bodies and a legacy spanning across decades.
President, PHDCCI, Shri Rajeev Juenja facilitated Hon’ble Sardar Taranjit Singh Sandhu, Lt. Gov. Government of NCT Delhi and delivered the welcome address. In his welcome address he thanked Hon’ble Lt. Gov. Government of NCT Delhi for his esteemed presence. Mr Juneja said that he felt deeply proud of PHDCCI’s 121 year old legacy and highlighted that PHDCCI’s true strength lies in being relevant in the current and fast changing scenario and hence 121 Annual Session’s theme, “ ‘India’s Next Leap – नई सोच, नई रफ़्तार’”
The vote of thanks was delivered by Shri Anil Gupta, Senior Vice President, PHDCCI. “True economic progress lies not merely in how fast we grow, but in how wisely we grow—creating prosperity today without compromising the resources, opportunities, and well-being of future generations”, said Shri Anil Gupta.
Shri Sanjay Singhania ji, Vice President; Shri Sanjeev Agrawal, Former President; and Dr Ranjeet Mehta, CEO & Secretary General, PHDCCI shared the Dais with Hon’ble Sardar Taranjit Singh Sandhu, Lt. Gov. Government of NCT Delhi, along with the President and Vice President, PHDCCI.