The capital was also urged to make a concerted bid to stage the Olympic Games in 2020.
The CBI said a cross-party committee of London MPs was needed to oversee the implementation of such a strategy.
Launching the blueprint, Succeeding Tomorrow, Ian Reeves, chairman of the confederation's London region, said: 'It is essential that
London's MPs put their weight behind the plan.'
The scheme contained a detailed analysis of the strengths and weaknesses of the capital and forecast what the city could look like in 2020.
It followed last week's
disturbing report from the Institute for Metropolitan Studies which showed London drifting into the future without a sense of direction.
It warned of a downward spiral in which multinational companies would reduce their London operations, house prices would fall and unemployment would rise.
Sir Alan Greengross, the institute's chairman and
former Conservative leader on the Greater London Council, said: 'The people we spoke to wonder just who is looking after the shop.
'When they see something like the Crossrail fiasco it is not surprising that they begin to wonder just who is in charge.'
In yesterday's CBI document, Carl Hopkins, the chairman of the organisation's
London Strategy Group, said 'the cost of individual personal transport convenience may be too high' in the London of the 21st century, and stressed the necessity of speeding up planning decisions crucial to developing air links, including Terminal Five at Heathrow.
A debate is raging over the proposed new terminal, with thousands of protesters preparing to challenge it on environmental grounds at a major
public inquiry next year.
Mr Hopkins added that the city's tourism industry could benefit from the pedestrianisation of Oxford Street, Regent Street and Piccadilly through to Leicester Square, followed by the enclosure of the area to
create a shopping complex 'without comparison'.
He envisaged 'a well-
educated, healthy, caring, prosperous society living in a clean, safe, friendly environment with easy physical and electronic communications'.
'One should dream to
create reality,' he said.
London facts and figures
Longest experience of any city as an international trading centre.
Longest unbroken demo-cratic parliamentary system of any world city.
has 135 foreign missions.
fourth in Europe in list of political power and sixth in the world.
Largest number of foreign banks of any city (492).
Stock Exchange has more
foreign companies listed than
Attracts more than 17m tourists per year who spend pounds 5bn.
Largest retail market in
Busiest single shopping centre in Europe (Oxford Street).
Busiest international airport (Heathrow) with 100,000 passengers per day.
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