India Economy Robust, Stable Despite Global Uncertainty: N Chandrasekaran

(MENAFN- IANS) New Delhi, Oct 5 (IANS) India's economy remains robust and in a stable position despite an uncertain global environment, Tata Sons Chairman N Chandrasekaran said on Monday, citing strong domestic demand, services exports and an enabling policy environment.

Speaking at the Indian Foundation for Quality Management Symposium 2026, Chandrasekaran said India had consistently exceeded expectations in recent years and remained on a strong growth path.

The Indian economy is doing very well, he said.

He further noted that several indicators showed the country was in a stable and strong position.

He pointed to strong demand in areas such as automobile sales, credit, power and cement as signs of economic resilience.

Chandrasekaran also cited a current account deficit consistently below 1 per cent of GDP, services exports at about 11 per cent of GDP, strong foreign exchange reserves and healthy bank non-performing assets as indicators supporting the positive outlook.

He said India's Viksit Bharat 2047 vision would require inclusive and sustainable development supported by world-class infrastructure, strong institutions and intellectual property.

For sustaining growth over the long term, energy security, advanced and precision manufacturing jobs and investment in human capital would be critical, he said.

Chandrasekaran also called for a transformation in India's manufacturing sector with greater focus on quality, innovation, productivity and competitiveness.

He said India could learn from countries such as Germany which had strengthened their competitive advantage through engineering, standards, precision and strong supplier and small and medium enterprise ecosystems.

"I think in India, we need such a transformation," he said.

Chandrasekaran also called for sustainable manufacturing to be embedded in India's broader manufacturing ambitions.

Such transformation could help build stronger leadership not only among large companies but also across the middle-tier business ecosystem, while creating experts capable of contributing to global manufacturing standards and practices, according to him.

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