CII conclave in Mysuru spotlights digital finance, GST reform, and balanced AI adoption

The CII Mysuru Annual Finance Conclave 2025, held on Wednesday, stressed Karnataka’s changing financial landscape, with industry leaders pointing out that competitiveness now depends on embracing digital finance, AI-led transformation, and responsible governance.

Rabindra Srikantan, chairman, CII, Karnataka State Council, said the transformation of finance is no longer about process efficiency alone; it is about strategic partnership, real-time insights, intelligent forecasting, and data-driven value creation. ‘’AI and digital tools are accelerating this shift, reshaping forecasting, risk modelling, compliance, and decision intelligence across organisations,” he added.

As India advances toward its $7-trillion economic goal, regions like Mysuru must align with national momentum by adopting intelligent automation, strengthening financial integrity, and leveraging real-time data for forecasting, compliance, and decision-making, said Mr.Srikantan.

Delivering the inaugural address, Principal Commissioner of GST & Customs (Mysuru) P.V.N. Suresh Babu said India’s financial system was undergoing a fundamental transformation driven by technology, data and regulatory reforms.

‘’Themes such as innovation, integrity, and intelligent transformation now define how finance, industry, and public administration must collaborate in a transparent and digitally enabled economy,” he added..

Tracing GST’s journey since 2017, Mr. Babu described it as one of India’s most consequential reforms, creating a unified national market and reducing physical interface through digital platforms, analytics, and risk-based systems. GST 2.0, he noted, aims to further simplify procedures and lower compliance costs, particularly for MSMEs and start-ups.

K.R. Sekar, partner, Deloitte, delivered the keynote address and countered fears that AI and automation will lead to job losses. Drawing parallels with the anxieties of the 1980s around computerisation, he said technological shifts ultimately create more jobs by elevating skills and expanding opportunities.

Efficiency gains in functions such as claims processing, he added, have been accompanied by systematic reskilling and movement of staff into mid- and senior-level roles. He urged students, parents, and policymakers to look beyond narrow technology streams and explore opportunities across mechanical, civil, electronics, manufacturing, data analytics and drone technologies.

Sam Cherian, convenor, CII Karnataka MSME panel, Nagaraja Gargeshwari, chairman, CII Mysuru, and others were present.