India Focuses on Local Strength and Reforms Amid Global Changes, Says Top Official

India must focus on structural reforms, domestic capacity building, and economic stability to navigate global uncertainties. Shaktikanta Das, Principal Secretary-2 to the Prime Minister, shared this view on Sunday at the Kautilya Economic Conclave.

Core Goals

The government is working to reduce heavy import dependence in key sectors like energy and fertilisers. Das stressed that self-reliance does not mean isolation, but rather building local capabilities while staying connected to global markets through free trade agreements.

Growth and Reforms

India's real GDP grew by an impressive 7.8 percent in the first quarter of financial year 2026-27. Das noted that the country is now within striking distance of 8 percent growth. Past reforms, such as flexible inflation targeting, the goods and services tax, and digital payments, helped build economic resilience.

Future Outlook

Looking ahead, India plans to harness the artificial intelligence revolution through sovereign AI capabilities and semiconductor development. Das also called for deepening the financial sector by strengthening long-term finance, the corporate bond market, and pension funds.

Context

The Kautilya Economic Conclave brings together policymakers and experts to discuss economic strategies for India and the global economy. Events of this scale often serve as platforms for senior officials to outline long-term national development goals.