New Delhi, May 11 -- Amid rising global volatility and supply-chain disruptions, Indian companies must shift their focus from short-term cost efficiency to long-term resilience, Shaktikanta Das, principal secretary to the prime minister, said on Monday.

Addressing the Confederation of Indian Industry Annual Business Summit in the capital, the former Reserve Bank of India governor urged businesses to diversify supply chains, strengthen balance sheets, invest in workforce skills and explore new markets, arguing that the changing global economic order now demands a strategic reset.

"Over the years and across the world, firms have optimized efficiency through single-source supply chains spreading beyond their national borders... But it is n...