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What happened
The CII Mysuru Annual Finance Conclave 2025 took place on December 4, focusing on the changing financial landscape in Karnataka. Industry leaders discussed how digital finance and AI are crucial for enhancing competitiveness. Rabindra Srikantan, chairman of CII Karnataka, emphasized that finance transformation now involves strategic partnerships and data-driven insights. Principal Commissioner P.V.N. Suresh Babu highlighted the fundamental changes in India's financial system due to technology and regulatory reforms, particularly through GST. He noted that GST 2.0 aims to simplify compliance for MSMEs and startups. K.R. Sekar from Deloitte addressed concerns about AI and job losses, arguing that technological advancements create more opportunities. The conclave aimed to encourage collaboration between finance, industry, and public administration in a digitally enabled economy.
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Key insights
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Digital finance is essential
Embracing digital finance is crucial for competitiveness in Karnataka's evolving financial landscape.
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AI transforms finance
AI-led transformation is reshaping forecasting, risk modeling, and decision-making across organizations.
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GST reform impacts MSMEs
GST 2.0 aims to simplify compliance and reduce costs for MSMEs and startups.
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Job creation through technology
Technological shifts can create more jobs by enhancing skills and expanding opportunities.
Takeaways
The CII conclave underscored the need for Karnataka to adopt digital finance and AI to remain competitive, while also addressing the importance of responsible governance and innovation in the financial sector.