Mumbai, Sept. 22 -- Union Finance Minister Nirmala Sitharaman has said that India's next phase of growth must be built on quality. Mrs Sitharaman said that every factory floor, boardroom, service centre, Research and Development team must aim for higher standards, fewer defects, and greater reliability. She stressed that management professionals and corporate leaders should make quality consciousness a shared discipline, embedded in products, processes, services and institutions.

Ms. Sitharaman highlighted that the world economy is passing through an unpredictable period and the architecture of global trade and supply chains is also undergoing a parallel shift. The Finance Minister noted that resilience cannot mean retreating into econom...