At a time when the global economy is grappling with uncertainty and instability, India has continued to demonstrate resilience and adaptability, emerging stronger from successive crises, Shaktikanta Das said on Thursday.
Speaking at the AIMA National Leadership Conclave in New Delhi, the Principal Secretary to the Prime Minister emphasised that India’s growth story goes beyond mere survival during turbulent periods.
“India has not just endured crises—it has transformed through them and emerged measurably stronger,” Das noted.
He pointed out that the global economic environment remains “unsettled and charged,” with challenges such as geopolitical tensions, supply chain disruptions and uneven growth prospects. Risks, he added, are currently tilted toward the downside.
Despite these headwinds, India’s economic performance has remained robust. Das highlighted that the country recorded a real GDP growth of 7.6% in FY26, with an average growth rate of 7.8% over the past five years.
According to him, this resilience is underpinned by several key factors, including macroeconomic stability, consistent policymaking, infrastructure-led development and strong domestic demand.
Das also stressed the importance of maintaining low inflation, calling it essential for economic stability and inclusive growth. “Inflation is often described as a tax on the poor. Keeping it low enhances consumers’ spending power,” he said.
Reflecting on India’s policy response during global crises, he said authorities adopted a calibrated approach—introducing fiscal and monetary expansion when needed, followed by timely withdrawal to prevent excess liquidity from destabilising the system.
He further highlighted structural shifts in the economy, including rapid digitalisation, expansion of infrastructure and growth in emerging sectors such as electronics and semiconductors.
On the global front, Das underscored India’s emphasis on strategic autonomy and diversified partnerships, reducing dependence on any single country. “Our decisions are guided by national interest,” he said.
Describing India as a “safe anchor” in an increasingly volatile world, he noted that the country offers stability, predictability and long-term growth opportunities amid widespread global uncertainty.
Looking ahead, Das expressed confidence in India’s economic trajectory, citing strong structural drivers such as a favourable demographic profile, rising consumption, infrastructure investment and digital public infrastructure.
“These are not temporary tailwinds—they are durable and compounding strengths,” he said.
He also advised businesses to focus on resilience by strengthening balance sheets, diversifying supply chains and investing in future readiness.
Concluding on an optimistic note, Das said that despite global turbulence, India is well-positioned to continue its upward journey and emerge even stronger in the years ahead.
(With inputs from PTI)