NEW DELHI, Apr 9: India has consistently shown remarkable resilience during global crises, not only surviving them but also transforming through the turbulence to emerge stronger, said Shaktikanta Das, Principal Secretary to the Prime Minister, on Thursday.
Addressing the AIMA National Leadership Conclave here, Das said, “Through each crisis, India has not merely survived. It has in fact emerged remarkably and measurably stronger”.
He noted that the global economy continues to face an “unsettled and charged environment” marked by geopolitical fragmentation, supply chain disruptions and uneven growth, with risks “decisively skewed to the downside”.
Against this backdrop, the former RBI governor highlighted India’s strong economic performance, stating that real GDP growth stood at 7.6 per cent in FY26, with an average growth of 7.8 per cent over the past five years.
“India’s resilience does not alone explain the full story. India did not just endure the period of turbulence. It transformed through it,” he said.
He also noted that several factors underpin this resilience, including macroeconomic stability, policy consistency, infrastructure-led development and strong domestic demand.
The top official emphasised the importance of inflation control, describing it as critical for economic stability. “Inflation has often been described as a tax on the poor. A low inflation would mean increasing the spending power in the hands of the consumer,” Das said.
Highlighting India’s policy response during crises, he said the country adopted a calibrated approach. “Fiscal and monetary expansion were followed by a timely rollback, thus froth was not allowed to accumulate or overrun the system”.
Das also pointed to structural transformations in the economy, including rapid digitalisation, expansion of infrastructure and growth in manufacturing sectors, such as electronics and semiconductors.
On the external front, he said India’s strategic autonomy and diversified partnerships have reduced overdependence on any single country.
“We take decisions in our best national interest,” he said.
He further described India as a safe anchor in a volatile global environment, offering stability, predictability and long-term growth prospects.
“India is now seen as a safe anchor at a time when much of the world is marked by conflict, volatility and policy uncertainty,” he said.
Looking ahead, Das said India’s growth drivers, ranging from demographic advantage and rising consumption to infrastructure push and digital public infrastructure, are structural and durable.
“These are not cyclical tailwinds. They are structural, compounding and durable,” he said.
He also advised businesses to build resilience, strengthen balance sheets, diversify supply chains and invest for future readiness.
Das expressed confidence in India’s trajectory, stating that “even with all the turbulence around the world, India will find a way to triumph and emerge stronger”. (PTI)
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