"This strategy needs to be pursued both at the organizational level as well as national level involving coordination across industry, government and social groups," he added.

Sounding a word of caution he advised industry captains not to get carried away by the superficial growth.

Mr Arun Maira said that India needs to empower locals and equip them with appropriate tools to take the nation to the next level of quality and excellence.

"India cannot be managed by experts. We need a new set of leadership to complement the resurgent India. The local bodies should not just be empowered but be equally given freedom and powers to play a proactive role to meet the highly competitive and challenging environment that India is currently cruising through," Mr Maira added.

Chandrajit Banerjee, Director General of CII, said that Indian economy has shown a high level of maturity and resilience at a time when several developed economies is still grappling with the shock of recessionary pressures. After a brief hold back, India is once back on its feet and hopes to touch base with 9 percent growth by next fiscal.

"This is in sequel to what we had begun last year with the theme 'India @ 75: The Quality Dimension' where we focused on three key areas of People, Performance and Progress of three sectors namely Industry, Education and Healthcare. This year we look at two different sectors namely Infrastructure and Governance in addition to our continuous focus on Industry," added Mr Shenoy.