India’s approach to the changing global order is anchored in a clear principle: a cooperative and rules-based international system, complemented by proactive partnerships that safeguard national interests, said Shaktikanta Das, principal secretary-2 to Prime Minister Narendra Modi.
Delivering the inaugural Bibek Debroy Memorial Lecture here, Das said that as power becomes more diffused and alignments more fluid, India recognises the need to revitalise multilateralism even while adapting to new realities.
This balanced worldview, articulated by Das, underlines New Delhi’s resolve to engage the world constructively without compromising strategic autonomy. Central to this approach is atmanirbharta — India’s vision of self-reliance.
Blueprint for Resilience, Not Isolation
Far from being isolationist, atmanirbharta seeks to build domestic capabilities in critical goods and technologies, reduce excessive dependence on external sources, and enhance economic resilience, he said. Conceived well before global supply chains began fragmenting, the strategy has two complementary dimensions: economic self-reliance and geopolitical autonomy.
Together, they ensure that India’s rise is resilient, sustainable and beneficial not just for itself, but for the global economy. A stronger domestic base enables India to contribute to global growth as a credible partner and, increasingly, as a leading architect of shared progress.
Stability, Reforms, and Targeted Growth
Operationally, atmanirbharta rests on a tripod of stability, reforms and targeted schemes. Macroeconomic and financial stability has been a defining feature of the past decade, even amid overlapping global shocks — from the pandemic to geopolitical conflicts and worldwide inflation. The economy rebounded strongly after Covid-19 and is projected to expand 7.4% in FY26. India is expected to account for about 18% of global GDP growth, underscoring its role as a key engine of the world economy.
Price stability has reinforced this momentum. Decisive monetary tightening and supply-side measures brought inflation under control despite global commodity spikes, with headline CPI falling well below the target band in late 2025, Das said. Reforms such as the flexible inflation targeting framework and initiatives spanning critical minerals, electronics, semiconductors, shipbuilding and rare earths are further strengthening self-reliance. As India moves from being an “incredible” nation to a “credible” one, its blend of openness, stability and strategic autonomy positions it firmly on the path to Viksit Bharat, Das said.