Hyderabad / New Delhi, June 26 (Mayank Nigam) Dr Jayesh Ranjan, Special Chief Secretary, Industries & Commerce, ITEC Departments, Government of Telangana, emphasised the importance of a holistic approach to business incentives. Speaking at the CFO Conclave organised by CII Telangana on the theme “Resilience, Reinvention, and Reimagination: The CFO’s Role in a New Era” in Begumpet on Wednesday, Dr Ranjan noted that while financial incentives are crucial, the overall business environment often holds greater significance. He highlighted the non-monetary benefits of investing in Telangana, such as improved quality of life and robust infrastructure. He stressed the need for CFOs to evaluate the totality of what a state offers, beyond just financial packages.
Dr Ranjan praised Telangana’s reforms, including expedited processes for business approvals, which can save time and resources for companies. He also underscored the strategic advantages of Hyderabad’s central location, good connectivity, and high quality of life, which contribute to a favourable business climate. Dr Ranjan called for CFOs to consider both financial and non-financial factors when making investment decisions, highlighting the broader context in which businesses operate as a key to long-term sustainability and growth. D. Sai Prasad, Chairman of CII Telangana and Executive Director of Bharat Biotech International Limited, underscored the importance of the CII CFO Forum as a platform for finance professionals to exchange strategies and insights.
“As stewards of financial integrity, CFOs incorporate new strategies, technologies, and ethical practices, ensuring sustainable growth across industries,” he stated. Prasad highlighted the strategic goals of CII Telangana, including achieving a USD1 trillion economy by 2047, and stressed the pivotal role of CFOs in navigating complexities and driving progress. M. V. Narasimham, convenor of the CII Telangana Ease of Doing Business Panel (EoDB) and Deputy CFO of Dr. Reddy’s Laboratories Limited, welcomed attendees and emphasised the evolving role of CFOs in navigating economic challenges. “Resilience goes beyond mere survival; it requires a proactive approach to anticipate challenges, mitigate risks, and capture opportunities while maintaining integrity and trust,” he noted. He outlined the sessions of the conclave, covering themes from boardroom resilience to financial transformation through AI, and emphasised the importance of transparency and proactive risk management. Rajesh Kumar, Chief General Manager of the State Bank of India, highlighted the transformational role of CFOs as visionary strategists. “India emerged resilient from the pandemic, with real GDP growing at the fastest pace among major economies,” he stated.
Kumar emphasised the importance of integrating ESG principles into financial decision-making to create sustainable and inclusive growth, calling for a forward-thinking approach to navigating the future. He also mentioned ‘SME Digital Business Loans up to Rs 5 crores’ with the aim of sanctioning loans in real time based on GST history. R. S. Reddy, Vice Chairman of CII Telangana and Managing Director of Rachamallu Forgings Pvt. Ltd., in his concluding remarks, emphasised the sector’s resilience and the importance of continuous reinvention. “The resilience and adaptability of the MSME sector are crucial for our economy. With initiatives like quick business loans and dedicated support programmes, we are paving the way for a robust and dynamic economic future,” said Reddy. He praised the innovative solutions being introduced and expressed optimism for the future, highlighting the significant role of finance professionals in driving economic growth. The conclave was well attended by key speakers and delegates from around the southern region.