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Airtel Chairman Sunil Bharti Mittal urged Indian industry to step up domestic capital expenditure and reduce reliance on imports, saying this is the moment to "invest, double down in our own country" as global economic uncertainty intensifies.
His remarks came as he was conferred with the CII President's Award for Lifetime Achievement, recognising his enduring leadership, contribution to India's economic progress, and commitment towards nation-building. Speaking at the CII Annual Business Summit 2026, Mittal acknowledged the headwinds from the ongoing Middle East crisis but stressed that India's underlying growth momentum remains strong. "These are difficult times," he said, echoing the Prime Minister's message from the previous day. "We, as a country, have been moving at a fantastic speed, growing at 6%-7% year over year. Generally, things are looking very, very good. But some situations develop which are beyond anybody's control." Mittal laid out three priorities for industry to navigate the current environment: moving away from "this obsession with the import of gold," lowering energy costs, and accelerating the shift to renewable energy. He also called on businesses to "vote with our feet within our country" by increasing investments at home. Highlighting Airtel's own commitment, he said the company spent about Rs 31,000 crore in capex in FY2024-25, with an additional Rs 7,000 crore through its tower subsidiary. "2026, which we'll announce in the next two or three days, the investment went up. And we know that in the current year, the investment will keep on going up," he said. "This is not the moment to shy away. This is the moment to invest... because the underlying growth is there." Mittal described India as "a continent of consumers, a large, young population wanting more products and more services" and urged industry to "give them more from India, make in India, from India, serving India." Reflecting on the role of industry chambers, Mittal said CII is "a very special place" that works closely with society and stakeholders to shape policy. Drawing from his family's association with chambers, he noted that all three Bharti brothers have served in leadership roles, with brother Rakesh as a former CII president and Rajan as a former FICCI president. He encouraged younger entrepreneurs to take on responsibilities within CII, adding that "the government looks towards chambers, especially a chamber like CII, to work closely with them to guide their policy framework." Mittal said the recognition was made possible by the administration's support during challenging periods of his journey, including his time in telecom. He concluded that industry, which employs millions, must play its part in advancing the Prime Minister's vision and strengthening India's economic resilience. (ANI)
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