New Delhi, September 9, 2024: The 114th Annual General Meeting of the Southern India Chamber of Commerce and Industry (SICCI) was held here today, inaugurated by the Hon’ble Minister of Finance & Corporate Affairs Smt Nirmala Sitharaman, and presided by SICCI President Mr Arun Alagappan, along with other members of the Chamber.
Union Finance Minister Smt Nirmala Sitharaman, in her address, said, “Stability in policy, continuity in administration and predictability in tax regime are creating a steady pathway for businesses. Indians have voted for a stable government. The country is at the cusp of growing into a developed economy by 2047, and is among the fastest growing countries globally. Stable policy making, visionary leadership are helping entrepreneurs thrive. Freight corridors and defence corridors in the South are helping the industry. ”
She added that the South of India holds huge potential, and all the regions must work towards “one India”. Touching upon the need to focus on manpower shortage, she added, “I call upon the industry to focus on skilling our people, particularly the youth.”
Addressing the AGM, Mr Arun Alagappan, President of SICCI and Executive Chairman of Coromandel International Ltd, said, “It is vital to recognise the ambitious vision articulated by our Hon’ble Prime Minister Narendra Modi to transform India into a developed nation by 2047. In the face of global economic uncertainties, India has exhibited remarkable resilience with a steady GDP growth rate of 6.7%.”
Mr Arun Alagappan also proposed ‘Strategic Vision for 2047: SICCI’s recommendations’, which includes several strategic priorities to accelerate India’s journey towards the developed nation status. These include: Climate Change & Decarbonization, Technological Disruption & Digital Transformation, Emerging Sectors & Innovation (led by Fintech, Deep tech, EVs, etc.), Skill Development & Workforce Empowerment, and Harnessing the Demographic Opportunities.
“Looking ahead, SICCI’s priorities will include expanding our arbitration centre and establishing the SICCI Centre for Economy & Innovation, broadening our impact with new offices in Kochi, Coimbatore, SPR City, and plans for Hyderabad, strengthening global business through international delegations,” Mr Alagappan added.
During the AGM, Smt. Nirmala Sitharaman honoured SICCI Past Presidents for their service to the Chamber. Ms Sitharaman also awarded gold medal winners from reputed institutions such as the Madras University, Annamalai University, Loyola Institute of Business Administration, Madurai Kamarajar University, Manonmaniam Sundaranar University, Thiyagarajar College-Madurai & Bharathidasan University-Trichy for their academic excellence.
Founded in 1909 under Mahatma Gandhi’s inspiration, SICCI has been at the forefront of industrial advocacy for over a century. As the founding member of the Federation of Indian Chamber of Commerce & Industry (FICCI), SICCI has played a pivotal role in shaping India’s industrial landscape. SICCI’s extensive network, spanning over 25 specialised committees, continues to drive progress through events, knowledge sharing, B2B connections, and government interfacing.
