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Shaktikanta Das, former RBI governor and PM Modi’s second principal secretary, said at the CNBC-TV18 Global Leadership Summit that India’s economy remains “strong, stable and resilient” even as global trade rules and geopolitics rewrite the international order.
Hailed as an icon of the Indian economy, Das said India’s macro fundamentals and pace of reforms have set it apart amid uncertainty around the world.
Das highlighted three pillars for India’s journey ahead. First, despite changes in global systems – where multilateralism is giving way to regional and bilateral agreements – India’s economy remains stable. “While the world order is changing… the Indian economy remains strong, stable and resilient,” he said.
Second, Das said the government’s vision for a Developed India 2047 is on the right track. He pointed to the rapid implementation of the next generation GST reforms as evidence of political will and administrative follow-through. “The roadmap has been prepared… this year several reforms have been undertaken, not only in GST but also in regulation in the non-financial sector,” he told the audience. He said more measures would be taken to ease business and boost competitiveness.
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Third, he identified technology and start-ups as engines of inclusive growth. Das said artificial intelligence and digital innovations are spreading beyond metros to tier-2 and tier-3 cities, creating jobs and accelerating urbanization. Describing urbanization as an “engine of growth”, he said, “India’s future looks very bright… Jobs are being created in tier-two and tier-three cities.”
Concluding on an optimistic note, Das urged the next generation to consider disruptions as opportunities. “Every challenge is an opportunity, and I am sure the present and future generations will seize it to take India towards the developed India of 2047,” he said. When asked if the recent reforms were only a “trailer”, he smiled and said: “You will see many steps. Let me leave it at that.”
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first published: November 8, 2025 2:36 pm Is