India will grow between 6.5 per cent and 7.5 percentage points, says Kamal Bali President & Managing Director, Volvo Group, India

Over the next 10 to 15 years, India’s growth will outpace that of other countries, with India growing more than twice the rate of rest of the world, said Kamal Bali, President & Managing Director, Volvo Group, India, on Friday..

“While the world will grow between 2.5 per cent to 3 percentage points, India will grow between 6.5 per cent and 7.5 percentage points. India’s contribution in the global growth will be 2.5 times what it is today over the next 10 to 15 years,” he said at the 23rd MMA Award for Managerial Excellence and the award ceremony on Friday. 

Partnership is going to be the future leadership and no individual or single entity will be able to solve problems or find solutions on their own, Bali added. “In our own company, the kind of partnerships we have gone through in the last five years are amazing. We have partnered even if with our competitor to be able to win in this new game of technology. We will all need to work together to be able to leverage the India story,” he added.

Bali noted that India’s growth story is not going to be like China, which grew on the back of exports. “In India, the domestic consumption is still going to be more than 60 per cent,” he said. “Let’s stop comparing India with China,” he a.dded

Emergence of AI

Bali said that the world of business is going through tremendous transformation, and this is happening on account of four things — connectivity, digitalisation, automation, and energy transition. The geopolitical uncertainties are throwing tremors all around the world; there is also a huge crisis in globalisation and the emergence of tools like Artificial Intelligence are going to redefine the industry, he added.

Suneeta Reddy, Managing Director, Apollo Hospitals and President, All India Management Association, said the India government is rolling out vaccines for various ailments like cervical cancer and others faster than any other government in the world. “The US spends 16 per cent of their GDP on healthcare and the UK NHS spends $270 billion. But people living in the US and UK are not happy about their healthcare,” she added.

“In India, nearly 700 million people are linked on Aadhaar. Of this, 450 million of them have their own personal health records; this is the scale,” she said. “Even with the lower spends, we were able to achieve scale and impact. This, I believe, is an opportunity to see that we can teach the rest of the world,” she added.

MMA office-bearers

MMA, on Friday, also appointed its Managing Committee for 2025-26. Lakshminarayanan D, MD, Sundaram Home Finance, takes over as the President of MMA for the year. AR Unnikrishnan, MD, Saint-Gobain India–Glass Business, will be the Senior V-P. Seetharaman, Chairman, Super Auto Forge, will be the Vice-President. MP Surya Prakas, Executive Director, Pon Pure Chemicals India, will be the Treasurer, and G Giridhara Gopal, Director & Chief Executive Officer, Addison & Co, the Secretary.

Published on July 4, 2025