New Delhi, Oct. 5 -- India's economy is robust in a world that is uncertain and difficult, and multiple indicators show that the country is in a stable and strong position, Tata Sons Chairman N Chandrasekaran said on Monday and highlighted that energy security, advanced manufacturing jobs and investment in human capital are "critical" for sustaining long-term growth. He noted that the Viksit Bharat 2047 vision has percolated across multiple aspects of the country. Delivering on the vision, he said, will require inclusive and sustainable development, built on world-class infrastructure, institutions and intellectual property.
"... All three will be critical," he said, addressing the Indian Foundation for Quality Management (IFQM) Symposium 2026. Chandrasekaran -- who was recently handed his third five-year term at the helm as Tata Sons Chairman amid an intense boardroom battle-- further said the Indian economy is doing very well and, over the last several years, has consistently exceeded expectations by posting the highest growth "in a world that is uncertain and difficult". Chandrasekaran said India's growth is being driven by strong domestic demand, services exports and an enabling policy environment from the government, and observed that it is fair to say the indicators are strong.
He pointed to strong demand growth in auto sales, credit, power and cement. He said the overall economy is robust, and cited multiple parameters such as current account deficit consistently below one per cent of GDP, services exports at about 11 per cent of GDP, strong forex reserves and healthy bank NPAs, among other vectors, that showed India is in a stable and strong position. He added that sustaining growth over a long period will require several things to happen, and drew attention to energy security, advanced and precision manufacturing jobs and investment in human capital as "critical" for sustaining long-term growth.
Citing the example of Toyota, Chandrasekaran said the Japanese auto giant never looked at quality as just a mere outcome, but also focused on innovation and productivity at the same time. "Quality is definitely important to produce the outcome that we want . But it became a key driver for innovation, productivity and competitiveness for Toyota," he said. He said nations such as Germany triggered a transformation by focusing sharply on national competitive advantage through the lens of quality. "Be it in terms of engineering of their products or defining standards or precision or building their entire supplier and SME or the middle strand ecosystem....I think in India, we need such a transformation," he said. He also urged the Indian manufacturers to integrate sustainable manufacturing processes, besides quality and other factors.
It has to "get embedded in our whole manufacturing ambition," he said. Besides, he also hoped in the whole process, it will create a very strong leadership of not only big companies, but also for middle strand ecosystem. It will also create experts who will act as a force multiplier by not only helping our country, but also becoming a global voice in every part of the world in shaping the future of how these products are produced globally.
Published by HT Digital Content Services with permission from Millennium Post.