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Das Says Broad Reforms Have Strengthened India’s Economic Resilience
Shaktikanta Das said India has made changes that help its economy cope with difficult times around the world.
He pointed to measures such as inflation rules, a nationwide goods and services tax, digital payments and stronger banks.
He said better public services and digital systems helped the government deliver support to people.
He also said careful management of the economy and investment in roads, energy and manufacturing have made the country stronger.
India’s economy grew 7.8% in the first quarter of the current financial year, according to Das.
He said future progress will depend on areas such as artificial intelligence, education and sustainable development.
He added that building India’s own capabilities should not mean shutting the country off from global markets.
Shaktikanta Das said reforms over the past decade have helped India withstand global economic shocks.
He cited inflation targeting, GST, digital payments and banking reforms as mutually reinforcing economic buffers.
Das identified governance and state capacity, macroeconomic stability, and productive investment as three pillars of resilience.
He pointed to 7.8% real GDP growth in the first quarter and average annual growth of 7.9% over FY2021-22 to FY2025-26.
For the next phase, he highlighted AI, financial-sector development, strategic self-reliance, sustainable development and human capital.
- Who
- Shaktikanta Das, Principal Secretary-2 to Prime Minister Narendra Modi and former Reserve Bank of India governor.
- What
- He said broad reforms have strengthened India's ability to withstand global economic shocks and outlined priorities for future development.
- Where
- New Delhi.
- When
- Sunday, at the Kautilya Economic Conclave; the article does not specify the date.
- Why
- Das said reforms and continued investment are needed to sustain resilient, long-term growth and advance the Viksit Bharat 2047 goal.
Strategic Self-Reliance
Global Integration
How to build domestic capabilities
Strategic Self-Reliance
Das said India should strengthen domestic capacity in areas such as strategic manufacturing, defence production and critical technologies.
Global Integration
Das said self-reliance should not mean isolation; India should remain integrated with global markets and pursue more free-trade agreements.
Artificial intelligence opportunities and risks
Strategic Self-Reliance
Das said AI could improve productivity, public services, research, healthcare and education.
Global Integration
He also said India must address concerns including data governance, cybersecurity, concentrated technological power, algorithmic bias and AI safety.
Key facts
- GDP growth, first quarter of current financial year
- 7.8%, according to Das.
- Average annual GDP growth
- 7.9% during FY2021-22 to FY2025-26, according to Das.
- Direct benefit transfer savings
- Estimated at around ₹5.1 trillion, Das said.
- Bank gross non-performing assets
- 1.68% in June 2026, according to Das.
- Current account deficit
- 0.6% of GDP in FY2025-26.
- Solar energy capacity
- 165 GW, according to Das.
- Logistics Performance Index ranking
- Improved from 54 in 2014 to 38 in 2023; India aims to reach the top 25 by 2030.
Quotes
Shaktikanta Das
Principal Secretary-2 to Prime Minister Narendra Modi and former Reserve Bank of India governor
“India’s resilience is not accidental. It is the outcome of broad and mutually reinforcing reforms.”
livemint.com
Sources
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