New Delhi — India’s economy remains strong and stable despite uncertainty in the global economy, Tata Sons Chairman N. Chandrasekaran said Monday, pointing to resilient domestic demand, services exports and supportive economic policies.
Speaking at the Indian Foundation for Quality Management Symposium 2026, Chandrasekaran said India has consistently exceeded expectations in recent years and remains on a strong growth trajectory.
He pointed to demand across sectors such as automobiles, credit, electricity and cement as evidence of economic resilience.
Chandrasekaran also cited India’s current account deficit, which has remained below 1% of gross domestic product, services exports equivalent to about 11% of GDP, strong foreign exchange reserves and healthy levels of non-performing assets in the banking sector as indicators of economic stability.
Looking ahead, he said India’s Viksit Bharat 2047 vision would require inclusive and sustainable growth supported by world-class infrastructure, strong institutions and intellectual property development.
Long-term growth would also depend on energy security, the creation of advanced and precision manufacturing jobs and greater investment in human capital, he said.
Chandrasekaran called for a broader transformation of India’s manufacturing sector, with greater emphasis on quality, innovation, productivity and global competitiveness.
He said India could draw lessons from countries such as Germany, which has developed competitive advantages through engineering expertise, high standards, precision manufacturing and strong networks of suppliers and small and medium-sized businesses.
“I think in India, we need such a transformation,” Chandrasekaran said.
He also stressed the importance of making sustainability a core part of India’s manufacturing ambitions.
Such a transformation, he said, could strengthen leadership not only among large corporations but also across India’s mid-sized business sector while developing specialists capable of contributing to global manufacturing standards and practices. (Source: IANS)
