Does CII truly represent Indian Industry?

Interesting to see that Confederation of Indian Industry ( CII ) membership has fallen for the first time after early years of liberalization. Is it a sign of high membership fee, that in difficult times small companies/firms with less than 10 lakh turnover might have withdrawn? Not sure, as it just costs Rs 5000 to renew the membership annually for such companies. or Was it an exercise  by CII itself to axe more than 600 members? It is also interesting to see the self proclaimed representative of Indian industry has just got close to 8000 members while companies registered with ROC(Registrar of companies) might easily be in excess of 2 million. Does CII need to do more to widen the base to call itself the true representative of Indian Industry?