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The Future of Insurance in India: Insights Ahead of Insurance Summit 2025

India’s insurance sector, valued at over USD 140 billion, is undergoing significant transformation. Ranked among the top ten insurance markets in the world, the sector is witnessing momentum fueled by regulatory reforms, digital innovation, and a growing demand for customer-first solutions.

While the life insurance segment continues to experience steady growth, the non-life insurance sectors—including health, motor, property, and liability—are now poised for rapid expansion. This shift reflects India’s evolving risk landscape, changing consumer expectations, and stronger public-private policy alignment.

At the centre of this evolution lies a vital question:

Is India’s insurance industry actively preparing for this transformation, or merely hoping it will unfold on its own?

Catalysts for Sectoral Change

The government’s “Insurance for All by 2047” vision, championed by the Insurance Regulatory and Development Authority of India (IRDAI), has placed the insurance sector on an ambitious course. Several recent and upcoming developments will play a decisive role in shaping this path forward:

• The Insurance Bill Amendment 2025 is set to redefine how insurers raise capital, handle solvency requirements, and operate under a modernised regulatory structure. This could have far-reaching implications for IPO-readiness and governance transparency across the industry.
• The Ayushman Bharat Digital Mission aims to launch a national health claims exchange, designed to digitise and simplify the claims settlement process across insurers, third-party administrators, and hospitals. This move is expected to drastically reduce paperwork, speed up approvals, and improve the policyholder experience.
• Insurtech firms and legacy insurers are collaborating to co-develop products that meet the specific needs of diverse populations — from urban centres to semi-urban and rural markets. These collaborations are also enabling the expansion of microinsurance and embedded insurance services.
• Today’s insurance consumers are demanding more than just coverage. They are seeking transparency, trust, and personalised service. This behavioural shift is compelling insurers to rethink their models — from transaction-driven to relationship-based.

Introducing Insurance Summit India 2025

To address these developments, the Banking, Financial Services & Insurance (BFSI) Committee of the Bombay Chamber of Commerce & Industry will host:

Insurance Summit India 2025 – Viksit Bharat: Catalysing Insurance for a Resilient Future

Date: August 8, 2025

Time: 1:00 PM Onwards
Venue: Hotel Taj Santacruz, Mumbai
Organiser: Bombay Chamber of Commerce & Industry, BFSI Committee

This high-impact summit will convene key stakeholders from across the insurance ecosystem — including senior regulators, CEOs, actuaries, underwriters, legal experts, technology leaders, brokers, TPAs, and insurtech founders.

🤝 Supported by Industry Leaders

The Insurance Summit India 2025 is supported by some of the most respected names in the insurance and financial services industry:

• Title Sponsor: New India Assurance
• Premium Sponsors: Axis Max Life Insurance | Lockton
• Co-Sponsors: Beacon Insurance Brokers Pvt. Ltd. | Aditya Birla Capital Health Insurance
• Knowledge Partner: PwC India

Their collaboration reflects the shared commitment toward building a more resilient, inclusive, and tech-enabled insurance ecosystem. To explore the full agenda and speaker lineup, visit the official event page.

What to Expect at the Summit

The Summit will open with a high-impact plenary session featuring a keynote address by Mr. Deepak Sood, Member (Non-Life), IRDAI, who will share the regulator’s vision and roadmap for driving innovation while upholding consumer protection and financial stability. The session will also include special addresses by Mr. Nilesh Sathe, Former Whole-time Member, IRDAI, and Ms. Girija Subramanian, CMD, New India Assurance.

Participants can look forward to three high-value panel discussions:

• Panel 1: Opportunities and Impact of the Proposed Insurance Bill Amendment 2025 — featuring leaders from Zuno Insurance, Universal Sompo, and Future Generali.
• Panel 2: Enhancing Customer-Centricity — featuring experts from Lockton and Beacon Insurance Brokers, among others.
• Panel 3: Tech-Driven Innovation, Inclusion and Trust — with insights from Aditya Birla and Axis Max Life Insurance, among others.

Each session is designed to foster actionable dialogue on how innovation, regulation, and consumer engagement can jointly enable India’s transition into a resilient insurance economy.

The Summit also offers structured networking opportunities, including a curated networking lunch and post-event dinner with cocktails — allowing professionals to connect meaningfully across domains.

Why This Summit Matters

Insurance has evolved from being a financial product to becoming a pillar of economic resilience. In today’s India, it is a critical lever for inclusive growth, social stability, and institutional trust.

The Insurance Summit India 2025 is not just another industry event — it is a strategic forum for collaborative problem-solving, innovation sharing, and long-term ecosystem building.

If you are involved in insurance, fintech, legal advisory, regulatory policy, health administration, or capital markets, this Summit offers unparalleled insights and access.

Register Now

Participation is limited and registration is filling quickly.

To confirm your seat and gain access to this flagship event,
Click here to register for Insurance Summit India 2025

For queries or institutional participation, contact:
Utkarsha Joshi:

+91 22 6120 0271

utkarsha.joshi@bombaychamber.com

Priya Singh:

+91 22 6120 0238

priya.singh@bombaychamber.com

GST invoice management system evolves for smarter tax compliance

Mumbai: When the Goods and Services Tax (GST) Invoice Management System (IMS) went live on October 1, 2024, it arrived as a quiet revolution in the nation’s GST architecture. Introduced with the promise of real time visibility into business-to-business (B2B) transactions, the system is currently optional – a testing ground rather than a mandate. Yet within months, it became obvious to tax professionals and corporate leaders alike that IMS would reshape not only compliance routines but the very dynamics of trust and transparency across the supply chain.

As Komal Sampath, Director – Indian Tax Practice at Deloitte Touche Tohmatsu India LLP, explained at a recent webinar organised by the Bombay Chamber of Commerce & Industry, the true turning point comes with the decision to freeze outward liability in the GSTR 3B return from the July 2025 tax period onwards. At that juncture, any rejection of credit notes by the customers under their IMS may no longer directly be corrected under summary returns of GSTR 3B – a deadline that demands urgent attention from every taxpayer.

On the surface, the GSTN Portal itself presents a deceptively simple layout. Vendors upload their B2B transactions as soon as they are issued, and these records appear in the recipient’s dashboard that allows them to cross-verify entries against their own available records. Yet behind this simplicity lies an intricate choreography of data feeds and validation checkpoints. As transactions initially populate in the ‘No action’ section, recipient may take appropriate action and digital cut-throughs ensure near-instantaneous updates of both the supplier’s and the recipient’s IMS dashboards.

Filters by GSTIN, invoice number, and month enable finance teams to monitor high-value transactions and identify potential discrepancies. Furthermore, for quarterly filers, GSTR-2B is not generated during the first two months of the quarter, permitting them to undertake necessary actions on a quarterly basis.

It is in the dance between acceptance and rejection that the system’s power becomes evident. Should a recipient recognise a transaction as legitimate, a click of the accept button seamlessly authorises the corresponding input tax credit. If the transaction appears spurious or mis-addressed, rejection becomes an immediate deterrent against fraud – alerting both vendor and tax authority to the anomaly.

And where doubts persist, the pending status allows additional scrutiny, perhaps triggering an internal audit or a supplier follow-up. This triage of invoices not only curtails credit claims on counterfeit documents but also strengthens the integrity of each firm’s self-assessment.

Yet practical experience has also revealed obstacles, Karthik Gandhi, Head – Indirect Tax at Siemens India, shared at the same webinar that integration between IMS and legacy ERP systems remains a thorny issue for multinational groups. “We are dealing with multiple entities, each on a different digital platform,” he noted. “Ensuring that transactions captured in one system synchronise accurately with IMS, without duplications or time lags and requires intensive coordination between finance and vendor support teams,” said Gandhi.

Additionally, many practitioners believe further refinements are still required, particularly for taxpayer registered PAN India where tax documents are received at multiple offices and it may delay verification of tax documents by weeks. Calls for extended timelines for taking action on credit notes are already being tabled by industry associations, though any reprieve will need to balance ease-of-use with the government’s broader objectives of plugging revenue leakages.

For businesses large and small, the strategic implications of IMS extend far beyond compliance. Real time invoice matching can accelerate working capital cycles by giving suppliers confidence that credits will be honoured without delay subject to fulfilment of provision of GST law.

Conversely, any backlog in reconciliation can put pressure on cash flows, as the freeze on outward liability could leave invoices in limbo and credits unclaimed. Financial controllers thus find themselves at the nexus of legal compliance, treasury management and supplier relations – a role that demands both technical acumen and diplomatic finesse.

At its heart, the IMS represents a step towards a more transparent, accountable commercial ecosystem. No longer can shell companies hide behind fabricated invoices or delay reporting without immediate consequence. Simultaneously, genuine traders gain the reassurance of on-demand verification, reducing the friction of inter-company settlements. The transformation may be gradual – after all, the initial phase remains optional – but with each month of voluntary participation, taxpayers refine their processes in anticipation of the mandatory horizon.

As the IMS evolves, so too will the skills demanded of India’s tax professionals. Tomorrow’s finance teams/tax professionals will need data analytics expertise to monitor dashboard metrics, legal insight to interpret emerging advisories and change-management know-how to embed new procedures across dispersed operations.

The freeze effective July 2025 is not merely a technical adjustment; it is a signal that digital compliance has arrived irreversibly. Firms that adapt swiftly will not only avoid penalties but stand to gain a competitive edge in the increasingly data-driven marketplace.

In the end, India’s journey towards real time invoice reporting is a microcosm of its aspirations for a fully digitised economy. By merging technology with regulatory intent, the government seeks to construct a fiscal architecture that is both resilient against fraud and conducive to growth. The road ahead will doubtless present further challenges, from system enhancements to policy fine-tuning, but the direction of travel is clear.

For those who embrace the change, the IMS offers a pathway to greater efficiency, stronger compliance and deeper collaboration across the supply chain. And when the next chapter of India’s tax story is written, it will surely be defined by the lessons learned from the first months of IMS in action.

(Write to us at editorial@bombaychamber.com)

When commercial dispute resolution matters choose your fight wisely

Mumbai: In today’s increasingly complex commercial landscape, disputes are inevitable. But the method you choose to resolve them can shape not just the outcome, but the time, cost, and relationships along the way. Arbitration and mediation, often bundled under the banner of alternative dispute resolution, differ as much in strategy as they do in spirit.

Arbitration is inherently adversarial. It imposes a formal structure reminiscent of courtroom litigation. The process is governed by procedure and results in a binding decision – an award – that can be executed like a court decree.

This makes it particularly useful where parties need finality, enforcement, and a framework capable of absorbing complex evidence and legal argumentation. But it also comes at a price. Arbitrator fees, lengthy timelines, and procedural layers can make it a costly affair, with durations often stretching beyond two years and expenses creeping into seven to ten per cent of the dispute value. As many professionals have observed, arbitration serves best when the stakes are high – often above ₹1 crore – and the issues require detailed adjudication.

Mediation, however, takes a different path. It is fluid, collaborative, and anchored in consent. Rather than imposing a judgment, it offers a facilitated space for parties to communicate, find common ground, and reach a solution of their own making.

A well-handled institutional mediation can resolve matters within three months, at a fraction of the cost of arbitration. In practice, a typical mediation may cost under ₹76,000 and produce outcomes that cannot be challenged under Section 34, provided the terms are formalised as part of an arbitration award or under Section 30(4) of the Arbitration Act.

What makes mediation particularly powerful is its emphasis on preserving relationships. In business disputes, where future collaboration might still be on the table, this becomes a strategic edge. And while the Mediation Act is still in the process of full notification, professionals are already making adjustments – treating direct resolutions as ‘conciliation’ where required by law, but maintaining the spirit and structure of mediation.

Interestingly, the future may not belong exclusively to one approach. Institutions and arbitrators are already embedding mediation within arbitration proceedings. When the arbitrator also holds mediation training, the shift between forums is seamless.

Parties may pause arbitration, engage in structured mediation, and return—if successful—with a binding resolution converted into an award. It is here that the strategic blend reveals its strength, offering the enforceability of arbitration with the consensual power of mediation.

For professionals and institutions alike, the real challenge lies in knowing when to pursue which path. Arbitration is a hammer; precise, powerful, but not always appropriate. Mediation is a bridge – faster, lighter, and often more enduring. In a world where legal efficiency is currency, the best strategy may be to ask not which tool is better, but which moment calls for which instrument.

Dispute Resolution @ Bombay Chamber (DR@BC) is an initiative of the Bombay Chamber of Commerce and Industry, India’s oldest operating chamber of commerce. Established in response to the growing need for efficient, business-friendly alternatives to litigation, DR@BC provides a structured platform for Mediation, Arbitration, Conciliation, and Neutral Evaluation. Contact us for a free initial consultation: https://adr.bombaychamber.com/contact-us/

₹1000 crore ADEETIE scheme to empower MSMEs with clean energy investment

Union Cabinet approves transformative scheme for farming districts

Mumbai: In a major push to revitalise agriculture and allied sectors, the Union Cabinet has approved the Prime Minister Dhan-Dhaanya Krishi Yojana, a first-of-its-kind initiative aimed exclusively at accelerating development across 100 districts. The scheme has an outlay of Rs 24,000 crore per year and will be implemented over the next six years.

Drawing inspiration from NITI Aayog’s Aspirational District Programme, the scheme promises a data-driven, outcome-focused approach to raise agricultural productivity, promote sustainable practices and improve rural livelihoods.

Target districts will be selected using key indicators such as low crop yield, minimal cropping intensity and limited access to agricultural credit. Each state will see at least one district included, with final selections reflecting the distribution of India’s net cropped area and operational holdings.

The plan’s implementation will rely on the convergence of 36 existing central schemes across 11 departments, alongside complementary state initiatives and private sector participation. A three-tier governance structure – national, state and district – will oversee planning and execution, with each district guided by its own Dhan-Dhaanya Samiti, comprising officials and progressive farmers.

District-level plans will align with national goals, emphasising crop diversification, conservation of natural resources and the promotion of organic farming. Progress will be tracked monthly via a digital dashboard against 117 key performance indicators, with NITI Aayog offering guidance and monitoring support.

As outcomes in the chosen districts improve, officials expect national agricultural metrics to rise correspondingly. By enhancing productivity, storage, irrigation and financial access, the scheme aspires to foster greater self-reliance and value addition within India’s agricultural ecosystem, anchoring the broader vision of Atmanirbhar Bharat.

(Write to us at editorial@bombaychamber.com)

GST webinar highlights practical insights for tax and finance professionals

Mumbai: The Bombay Chamber of Commerce and Industry, under the aegis of its Indirect Tax Committee, hosted an informative webinar on the Goods and Services Tax (GST) Invoice Management System (IMS). The session provided participating tax professionals and finance teams with timely updates and practical guidance on the evolving invoice reconciliation framework.

The session centred on operational and strategic implications of the IMS, introduced by the GSTN and also discussed updates effective July 2025. The system is designed to enable recipient taxpayers to reconcile purchase invoices in real time, with functionality to accept, reject, or defer invoices – ultimately streamlining the Input Tax Credit (ITC) claim process.

The webinar was led by two eminent speakers viz. Kartik Gandhi, Head of Indirect Tax at Siemens Ltd., and Komal Sampat, Director in the Indirect Tax practice at Deloitte Tohmatsu India LLP. Drawing from more than 15 years in the domain, Gandhi elaborated on technological integrations and practical workflows in managing indirect taxes. Sharing nuanced insights from over a decade of experience in indirect tax advisory and compliance, Sampat highlighted real-world applications and sectoral impact across industries such as energy, TMT, pharmaceuticals, consumer goods, and small and medium enterprises (SMEs).

Participants gained a clear understanding of the IMS structure, from invoice submission by suppliers to the recipient’s actions and the cascading effects on GSTR-2B and GSTR-3B filings. The session offered a comprehensive walkthrough of the IMS dashboard, invoice tracking capabilities, and the communication loop between supplier and recipient. The presenters also navigated scenarios involving invoice exceptions and discussed best practices for streamlining compliance efforts in light of recent regulatory amendments. Legal updates and their implications for IMS usage were thoroughly reviewed, ensuring participants left with actionable clarity.

The webinar concluded with an interactive Q&A session, where participants sought clarification on individual queries. Attendees were encouraged to share additional practical challenges related to GST IMS directly with the Bombay Chamber and were assured of timely support and guidance from GST experts.

(Write to us at editorial@bombaychamber.com)

With DR@BC, Bombay Chamber reinforces its role as a neutral partner in business conflict resolution

Mumbai: The Bombay Chamber of Commerce & Industry, India’s oldest operating chamber of commerce, has launched a dedicated website for its alternative dispute resolution services – Dispute Resolution @ Bombay Chamber (DR@BC) – a milestone that reinforces the Chamber’s role in shaping India’s evolving dispute resolution landscape.

As India’s economy continues to expand, the rise in complex business transactions demands mechanisms that are swift, confidential, and commercially sound. Traditional litigation – often burdened with delays and backlogs – has highlighted the need for robust alternatives that uphold the integrity of commercial relationships while delivering timely outcomes.

DR@BC addresses this need head-on, providing an institutional platform for Mediation, Arbitration, Conciliation, and Neutral Evaluation. The newly launched website enhances access to these services – enabling corporates, small and medium enterprises (SMEs), professionals, and other stakeholders to understand procedures, initiate matters, and browse profiles of DR@BC’s distinguished panel of arbitrators and mediators.

In alignment with contemporary business expectations, DR@BC offers flexible formats for resolving disputes. Depending on preference and context, parties can opt for online hearings via secure virtual platforms, in-person proceedings at DR@BC’s Mumbai facility, or hybrid models – ensuring convenience without compromising on procedural integrity.

The centre is equipped with a dedicated meeting / conference room for arbitration and mediation discussions, and infrastructure designed for confidentiality and efficiency. A team of trained support professionals ensures seamless coordination for both physical and digital sessions.

Commenting on the alternative dispute resolution services offerings, Sandeep Khosla, Director General, Bombay Chamber of Commerce & Industry, said, “With the DR@BC website, we reaffirm our commitment to empowering India’s business community with dispute resolution avenues that are timely, confidential, and globally aligned. As commerce becomes more dynamic, the ability to resolve conflicts efficiently is vital to economic resilience and stakeholder trust.”

The initiative reflects the Chamber’s broader mission to enhance India’s business climate by easing judicial burdens and promoting collaborative, commercially viable solutions. For more information or to submit a query, please visit the Dispute Resolution @ Bombay Chamber (DR@BC) page at https://adr.bombaychamber.com.

India-U.S. interim trade deal nearing completion amid agricultural deadlock

Mumbai: India and the United States are on the cusp of finalising an interim trade agreement, expected to be signed soon. The deal is aimed at pausing the reciprocal tariffs imposed during the Trump administration, with July 9 set as a critical deadline.

Negotiators from both nations have made substantial progress, but a decisive hurdle remains: India’s staunch refusal to fully open its agriculture and dairy markets to American imports. Officials from the Indian delegation have described agriculture as a “non-negotiable” pillar of national interest – both economically and culturally.

While the U.S. seeks wider access to Indian markets for genetically modified crops, dairy products, and ethanol, India has cited domestic sensitivities and structural constraints. Concerns over food safety, smallholder farm vulnerabilities, and ethical dietary norms have driven New Delhi’s resistance to American agricultural standards.

India’s Ethanol Blended Petrol program — which relies on sugarcane and grains — is another sticking point. Importing U.S. ethanol could undercut domestic production and compromise energy security.

Balancing Trade Ambitions and Rural Realities

Agriculture sustains nearly half of India’s population. Experts warn that an influx of subsidised U.S. goods could destabilise rural livelihoods and reignite tensions reminiscent of the 2021 farmer protests. There are also fears that tariff concessions may erode India’s Minimum Support Price (MSP) framework, a key safety net for its farming community.

The asymmetry in farm scale and tariffs adds complexity. American farms average over 180 hectares, operate with advanced mechanisation, and enjoy low trade barriers — unlike India’s predominantly manual, micro-scale farming landscape, where tariffs range up to 150%.

Instead of making concessions in agriculture, India is pushing for expanded access for labour-intensive sectors like textiles and manufacturing, which fuel employment and export growth. The interim deal, if sealed, could potentially boost bilateral trade to $500 billion and lay the groundwork for broader economic cooperation.

India’s protective stance on agriculture mirrors its approach in other trade agreements — including the Regional Comprehensive Economic Partnership (RCEP), which it exited in 2019, and ongoing negotiations with the UK and European Union. Dairy and genetically modified (GM) crops remain consistent red lines.

As talks enter their final phase, all eyes are on whether Washington and New Delhi can bridge differences — or if agriculture will once again be the dealbreaker.

(Write to us at editorial@bombaychamber.com)

Indian diamond industry braces for downturn amid tariffs and shifting demand

Mumbai: India’s cut and polished diamond (CPD) industry is confronting another challenging year, as export volumes are expected to decline by up to 10 percent on a year-on-year basis to about $12 billion in FY2026. Industry sentiment remains subdued following the steep 17 percent contraction to $13 billion in FY2025, driven by global economic headwinds, heightened competition from lab-grown diamonds (LGDs), and a pronounced drop in demand across key markets including the United States and China.

ICRA, in its latest report, has maintained a negative outlook for the sector, cautioning that the imposition of US tariffs and ongoing preference for LGDs may further erode profitability. A baseline tariff of 10 percent currently applies to Indian CPD exports to the US — a pivotal market accounting for over a third of outbound shipments. Diamantaires are exploring rerouting options through regions such as Dubai, Belgium, and Israel to offset tariff burdens and retain competitiveness.

While demand for LGDs continues to climb, capturing 8 percent of India’s polished diamond export value in FY2025, the sharp price correction — driven by technological advances and new market entrants — has squeezed margins. In contrast, fancy coloured diamonds (FCDs) have demonstrated relative price stability, offering a buffer for companies dealing in niche, high-quality stones.

Polished diamond prices reached historic lows in the second half (H2) of FY2025 and are expected to remain range-bound through the first half (H1) of FY2026. Meanwhile, rough diamond imports have declined sharply, reflecting cautious inventory management and weak global appetite. Despite reductions in procurement and extended seasonal closures, working capital cycles remain stretched, and operating margins for ICRA-rated entities are forecast to dip further to around 3.6-3.7 percent.

Survey responses from leading CPD players indicate muted optimism. Over 75 percent expect export volumes to be impacted by tariffs, while nearly 90 percent anticipate re-routing through favourable trade hubs. Most diamantaires predict stagnant rough prices, and volume degrowth exceeding 10 percent remains a concern.

As the industry recalibrates its strategies, success hinges on balancing cost controls with evolving consumer preferences. With bridal jewellery and luxury spending showing early signs of recovery in select markets, companies are watching closely for a demand revival in H2 FY2026.

(Write to us at editorial@bombaychamber.com)

Corporate India redefines diversity through wellness, inclusion, and empathy

Mumbai: The landscape of workplace diversity is undergoing a profound transformation, revealing complex layers of challenges and innovative solutions across corporate India. At the heart of this evolution lies a nuanced understanding that diversity extends far beyond gender representation, encompassing mental wellness, infrastructure, cultural mindsets, and systemic barriers.

At the recently concluded Diversity, Equity & Inclusion (DEI) Forum & Awards 2025, hosted by the Bombay Chamber of Commerce and Industry, participating organisations discussed in detail the idea that true inclusion requires a holistic approach. Companies like Novo Nordisk India are pioneering initiatives that strategically recruit talent from tier-two cities, creating pathways for women who might otherwise be overlooked. Similarly, Aditya Birla Capital has achieved a remarkable 30 percent diversity rate by implementing comprehensive wellness programmes that address not only professional challenges but also personal health concerns such as menopause, hormonal changes, and mental well-being.

The conversation around diversity is increasingly intersectional, moving beyond binary gender discussions to embrace LGBTQ+ representation. Companies like Crompton Greaves and Raymond Ltd have taken a groundbreaking approach by integrating LGBTQ+ professionals into design departments, demonstrating how diverse perspectives can be transformative. This approach challenges traditional workplace structures and unlocks innovative potential.

Infrastructure has emerged as a critical yet often overlooked aspect of inclusion. Speakers at the DEI Forum & Awards 2025 highlighted the stark reality that many operational roles remain inaccessible to women due to inadequate sanitation and hygiene facilities. This infrastructure gap reflects deeper systemic challenges that require deliberate, organisation-wide commitment to change.

Cultural transformation is equally crucial. Participants candidly discussed how deeply ingrained societal norms perpetuate gender inequalities—from childhood conditioning that prioritises male needs to workplace environments that expect women to silently endure challenges. Breaking these cycles demands conscious effort at individual, organisational, and societal levels.

Mental wellness has emerged as a pivotal dimension of inclusive workplaces. Stockholding Corporation’s comprehensive approach—which includes counselling sessions, flexible work policies, and extensive health coverage—represents a progressive model of employee support that transcends traditional diversity metrics.

Particularly compelling was the discussion around Micro, Small, and Medium Enterprises (MSMEs), where invisible barriers such as the ‘glass ceiling’ and ‘sticky floor’ significantly impede women’s professional growth. These organisations require targeted interventions to create equitable opportunities.

Speakers emphasised that diversity cannot be an HR-driven initiative alone—it must be embraced by business leadership. The most successful approaches integrate diversity strategies into the core organisational DNA, viewing inclusion as a strategic imperative rather than a compliance exercise.

Innovative companies are extending their diversity efforts beyond corporate boundaries. Aditya Birla Capital’s collaboration with UN Women to conduct financial literacy programmes in rural areas exemplifies how organisational commitment can drive broader societal transformation.

The emerging narrative is clear — diversity, equity, and inclusion are not static concepts but dynamic, evolving strategies that require continuous learning, adaptation, and genuine commitment. Success lies not in tokenistic representation, but in creating environments where every individual, regardless of gender, background, or ability, can thrive and contribute meaningfully.

As organisations navigate this complex landscape, the key lies in fostering a culture of empathy, understanding, and genuine respect — transforming workplaces from mere employment spaces into platforms for human potential and collective growth.

(Write to us at editorial@bombaychamber.com)