AI will disrupt services, manufacturing: EY India's Rajiv Memani
Rajiv Memani, Chairman of EY India, told the CNN-News18 Rising Bharat Summit 2026 that artificial intelligence is about to seriously disrupt both services and manufacturing.
"Some companies will fall by the wayside and companies will double down and succeed," he said, adding that Indian industries really need to boost their research and development (R&D) efforts if they want to stay in the game.
Memani on R&D
Memani pointed out that while India's economy has become more financialized, R&D hasn't kept up.
He urged businesses to invest more in innovation so they're not left behind as tech keeps evolving.
Memani on global supply chains
With AI making things unpredictable—and global trade rules shifting—Memani believes it's time for India to go big on manufacturing.
He noted that changes like US policies are shaking up supply chains worldwide.
BCG's Rahul Jain agreed, saying if India wants strong growth (think 8-9% a year), ramping up manufacturing is key.
Lowering import duties could also give Indian businesses an edge globally.