CII President Rajiv Mehmani Warns On Rising Imports, But, Lag In Manufacturing

At Davos 2026, Business Today Group Editor Siddharth Zarabi speaks with Rajiv Memani, President of CII and Chairman & CEO of EY India on what matters most for India’s long-term growth. Memani flags manufacturing as the single biggest priority for achieving Viksit Bharat goals. He warns that India’s imports—currently at $450–500 billion—are set to rise sharply, especially with upcoming investments in AI and data centres, potentially leading to ₹8 lakh crore in imports over the next 5–6 years. He explains why India must urgently build domestic manufacturing capacity, identify key import substitutes, back champion companies, and create strong supplier ecosystems—similar to what was achieved in electronics manufacturing.