India’s Economy Robust Despite Global Uncertainty, Says Tata Sons Chairman Chandrasekaran
According to Chairman of Tata Sons, Chandrasekaran, the economy of India is robust even in challenging and uncertain conditions worldwide. This was announced by Chandrasekaran at Indian Foundation for Quality Management (IFQM) Symposium 2026 on Monday. Energy security, high-quality manufacturing jobs and investing in human capital are the key elements to achieve long-term growth. It is necessary to realize the concept of “Developed India 2047”.
According to Chandrasekaran, the country has been in a very stable and robust position on most of the indicators. Economic growth in the country has been achieved due to robust domestic demand, service exports, and good policies. Double-digit growth in the high frequency indicators such as auto sales, credit growth, electricity, and cement was mentioned. The current account deficit in the country is less than one percent of GDP. The robustness of the economy is also reflected in the form of good service exports, forex reserves, and low NPAs of banks. The need of focusing on quality and switching from the current assembly to manufacturing was also highlighted by Chandrasekaran. World-class infrastructure, institutions, and intellectual property rights are some of the requirements for a ‘Developed India 2047’.
Chandrasekaran stated that ensuring energy security is fundamental to sustaining long-term growth. He also emphasized the need for advanced and precision manufacturing jobs. A shift from a low-productivity agricultural workforce to high-productivity manufacturing and modern services is essential. This requires investment in the right sectors. Investment in human resources, such as education and skill development, is also crucial.
He advised against viewing quality solely as an outcome. Citing the example of Toyota, he explained that quality became a key driver of innovation and competitiveness. Nations like Germany transformed their national competitive advantage by focusing on quality. India also needs similar changes in product engineering, standard setting, and supplier ecosystems. Indian manufacturers must integrate sustainable manufacturing processes with quality.
