NEW DELHI: The government is steadfast in pursuing reforms along with policy certainty, which will ensure that India not only maintains macroeconomic stability but also emerges as a globally competitive economy, principal secretary to the Prime Minister Shaktikanta Das said on Monday. He listed out seven strategies that the corporate sector may adopt to build resilience.
Reform Agenda and Strategic Reorientation
Addressing the CII annual meeting, Das, a former RBI governor, listed several reform initiatives that have already been taken, apart from steps to enhance strategic self-reliance in areas such as rare earth permanent magnets, critical minerals, and ship building. He asserted that several more steps are in the pipeline. "What is more important in India's journey towards Viksit Bharat@2047 is that there is no reform complacency and the government remains steadfast in pursuing the reform agenda." He stressed that Indian businesses should undertake "strategic reorientation" in the evolving global economic order.
Supply Chain Resilience
Das said in today's world of geo-economic fragmentation and supply chain disruptions, the world of corner solutions is increasingly becoming less efficient. "It is now evident that no single supply chain remains the cheapest, safest, and predictable on a sustained basis. In this context, it is resilience maximisation, which is increasingly replacing cost minimisation as a priority for businesses. It can be highly cost-effective in the long run."
Seven Strategies for Businesses
He suggested that India Inc should adopt the following seven strategies to build resilience:
- Build organisational resilience
- Strengthen balance sheets
- Build new supply chains
- Reskill manpower
- Diversify into new markets
- Invest strategically for future readiness
- Step up R&D spend
Free Trade Agreements
Das also said that recent free trade agreements (FTAs) are expected to enable Indian firms to scale faster and integrate into global value chains. Modern FTAs go beyond goods and unlock gains in services, digital trade, and professional mobility.
