New Delhi, Apr 9 (PTI) Industry body CII today launched the Future Business Group, which will identify and develop home-grown firms with the potential to grow into billion dollar companies over the next 5 years.

“The aim is to groom and develop companies that not only create wealth for the nation but also, generate jobs and opportunities with a multiplier effect, which is critical for India,” said Kris Gopalakrishnan, former president, CII, and Chairman, Axilor Ventures, elaborating on the vision behind the initiative.

Importantly, these companies will be guided to become well governed sustainable enterprises with long-term value creation and success, he said in a statement.

Gopalakrishnan also called for a national effort on capacity building in Artificial Intelligence and machine learning. “We are all being controlled by technology. We just don’t realise it,” he said.

Stating that with 90 per cent of funding for new startups coming from outside, successful Indian companies at present are creating wealth outside the country, he urged people to participate in wealth creation and creation of opportunities.

This is published unedited from the PTI feed.