Mumbai, September 3, 2026: The Indian Chamber of Commerce (ICC) unveiled its centenary book, Never Taking No for an Answer: India’s Indomitable Private Enterprise, published by Penguin Publishers, at a special event in Mumbai. Mr. Ajay Piramal, Chairman, Piramal Group, unveiled the copy of the landmark publication, which was edited by Dr. Rajiv Kumar and brought together insights and experiences of some of India’s most distinguished business leaders, including Kumar Mangalam Birla, Sanjiv Goenka, Ajay Piramal, Naveen Jindal, Sangita Reddy, Bharat Hari Singhania, Harsh Neotia, Ratan Jindal and Omkar Goswami. The book celebrated the indomitable spirit of Indian entrepreneurship and the journey of private enterprise in the country.
In his welcome address, Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, said, “The ICC Centenary Book was a tribute to the Indian business leaders who had contributed to nation-building and played a significant role in strengthening the Indian economy over the last 100 years. The Indian Chamber of Commerce had completed 100 years, and on this occasion, we thought it would be appropriate to acknowledge and document the journey that Indian businesses had gone through the challenges during the British era while competing with British companies, followed by the License Raj, Quota Raj, the scarcity of resources, poor infrastructure, policy challenges and, eventually, the era of economic reforms.”
In his address about the book, Dr. Rajiv Kumar, Editor of the ICC Centenary Book and Former Vice Chairman, NITI Aayog, Government of India, spoke about the significance of documenting the century-long journey of Indian private enterprise and the lessons it offers to the next generation of entrepreneurs and business leaders. Reflecting on the evolution and contribution of Indian businesses, he said, “India’s growth story over the millennia has been driven significantly by its private sector, and this contribution needs to be recognised and celebrated. The journey of Indian enterprise, from its early trading links across the world to its emergence as a global force today, reflects the resilience, ambition and entrepreneurial spirit of Indian businesses. At a time when the world is undergoing multiple transitions from geopolitics and climate change to technology, artificial intelligence and the rise of Asia the Indian private sector have a critical role to play in shaping the country’s future. What we need today is a stronger foundation of trust and collaboration between the four key stakeholders of our nation business, government, academia and civil society. If we can build that trust and work together, India can truly lead and conquer the 21st century.”
Mr. Ajay Piramal, who unveiled the book, also delivered an address highlighting the resilience and reinvention that had characterised Indian entrepreneurship. In his address, Mr. Piramal reflected on his own journey from a troubled textile business to building Piramal into a major healthcare enterprise through strategic acquisitions, and subsequently diversifying into financial services, healthcare and real estate.
A fireside chat between Mr. Ajay Piramal and Dr. Rajiv Kumar, moderated by Mr. Ankit Gupta, Chairman, ICC Young Leaders Forum, explored themes of innovation, legacy and the future of Indian entrepreneurship. Drawing from the nine essays featured in the book, the conversation highlighted two defining characteristics of Indian private enterprise trusteeship and resilience.
Speaking on the future of Indian enterprise, Ajay Piramal, Chairman, Piramal Group said, “We are living through an increasingly uncertain world shaped by geopolitical tensions, climate change and rapid technological transformation. Yet, India has strong reasons to remain optimistic, with its large domestic market, young population and, most importantly, its deep-rooted entrepreneurial spirit. As globalisation evolves, India has a significant opportunity to strengthen manufacturing, create new avenues for employment and emerge as a leader in newer areas of growth. AI and technology, too, should be embraced as forces for good. They can create greater access to opportunities, particularly for smaller businesses and MSMEs. However, technology cannot replace the human values that build enduring institutions integrity, authenticity, humility, accountability and compassion. These values, along with an owner’s mindset and the spirit of Seva, will remain essential to India’s journey of growth and enterprise for generations to come.”
In her vote of thanks, Ms. Sangeeta Jain, Chair, ICC Maharashtra State Council, acknowledged the contributions of all dignitaries and emphasised the importance of continuing ICC’s mission of fostering a constructive partnership between government and industry to accelerate India’s journey towards Viksit Bharat. Reflecting on the spirit of Indian enterprise and the road ahead, she said, “The spirit of Indian enterprise is defined by resilience, ambition and the courage to turn challenges into opportunities. There will be times when we hear ‘no’, but every rejection should become a stepping stone to move forward, embrace change and lead by example. As India enters its next phase of growth, we must continue to foster an owner’s mindset, humility and the willingness to take risks, while remaining committed to building a competitive, innovative, inclusive and resilient business ecosystem. That is the true spirit of Enterprise India and of never taking no for an answer.”
The book brought to life the remarkable institutional history of ICC through nine specially curated essays written by distinguished business leaders and thinkers, many of whom represented families with several generations of association with ICC. The essays did not dwell nostalgically on the past; instead, they extracted practical lessons from decades of hands-on experience and offered forward-looking perspectives on Indian entrepreneurship.
The title Never Taking No for an Answer captured not merely the spirit of the nine contributors or the history of ICC, but the enduring character of India’s indomitable private enterprise. The book demonstrated that Indian private enterprise had repeatedly refused to surrender to adversity, transforming constraints into opportunities, crises into innovation and challenges into new possibilities.
