New Delhi: Sunil Bharti Mittal, Chairman of Bharti Enterprises, on Thursday urged the industry to aspire for bigger goals and build trust with all stakeholders in the nation’s development.

Speaking at the CII ‘Annual Business Summit’ in the national capital, he highlighted four key pillars that need focus, in order to build on the country’s potential.

He also cited the example of India’s success in 5G deployment. Mittal said the nation “must recognise the demographic dividend”.

India’s young and energetic workforce can be an asset for the developed world, which is ageing and tightening its immigration policies, but the industry and government must work towards making this talent pool job-ready for the future, he mentioned.

“The rapid growth of global capability centres (GCCs) in India is a clear signal of this potential,” Mittal added.

On the research and development front, the country needs to ramp up its investment in innovation as well as deep scientific research, and the industry needs to take the lead.

A public-private partnership in R&D can create a multiplier effect in India, said Mittal.

“We need to build purpose-driven products and services and focus on exporting with greater value addition. Over the next 10 years, with the right investments, we can see a transformation – especially in semiconductors, which are becoming strategically vital,” Mittal told the gathering.

He also cited the example of northeastern states that are rich in oil and gas reserves that are not yet fully tapped.

Mittal further stated that government policies should be co-created along with industry’s participation, and bodies such as the CII need to ask the government what is needed.

The industrialist also mentioned that robust electronics manufacturing and the National Semiconductor Mission are steps in the right direction.

“Over the next 10 years, with the right investments, we can see a transformation – especially in semiconductors, which are becoming strategically vital,” he noted.