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Former RBI Governor Shaktikanta Das Calls for Indian Businesses to Strengthen Competitiveness Amid Global Uncertainty
Former Reserve Bank of India Governor Shaktikanta Das urged Indian businesses to use the current global disruptions linked to the West Asia conflict as an opportunity to strengthen competitiveness, invest in innovation and build long-term resilience. Speaking at the Confederation of Indian Industry (CII) Annual Business Summit 2026, Das outlined a seven-point strategy for industry leaders navigating rising geopolitical and economic uncertainty.
The global disruptions, coupled with the ongoing West Asia conflict, have led to unprecedented volatility in the global market. Das emphasized that Indian companies should move beyond incremental expansion and focus on building resilient operating models, stronger balance sheets, diversified supply chains and future-ready workforces. He urged businesses to treat the present phase of global uncertainty as a period to make long-term strategic investments.
Das' Seven-Point Strategy for Indian Businesses
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| Strategy | Description |
|---|---|
| 1. Organisational Resilience | Stronger risk management systems, faster decision-making structures and preparedness for technological and market disruptions |
| 2. Financial Preparedness | Strengthening balance sheets and maintaining liquidity buffers during periods of global stress to manage external shocks and capitalize on emerging opportunities |
| 3. Supply-Chain Diversification | Reducing dependence on limited sourcing channels by localising critical inputs where feasible and integrating with multiple global value chains |
| 4. Workforce Readiness | Prioritizing reskilling and upskilling through continuous training, vocational education and industry-academia partnerships |
| 5. Export Diversification | Expanding into new geographies and reducing dependence on a limited set of markets |
| 6. Long-Term Investments in Technology, Sustainability, Innovation and Capacity Building | Investing in emerging opportunities and building a strong foundation for future growth |
| 7. Significant Increase in Private Sector Spending on Research and Development | Treating R&D expenditure as a strategic investment rather than a cost centre |
Das emphasized that resilient business models would help firms absorb external shocks while remaining competitive during periods of volatility. He also stressed the need for financial preparedness, supply-chain diversification, and workforce readiness to navigate the current global uncertainty. The former RBI Governor also called for a significant increase in private sector spending on research and development, treating R&D expenditure as a strategic investment rather than a cost centre.
Das' comments come at a time when several sectors globally are reassessing supply-chain strategies amid disruptions linked to geopolitical tensions in West Asia, elevated shipping risks and fluctuations in commodity prices. Indian policymakers and industry bodies have in recent weeks repeatedly stressed the need to reduce external vulnerabilities while maintaining growth momentum. Prime Minister Narendra Modi has also urged citizens and businesses to reduce fuel consumption, adopt resource conservation measures and strengthen domestic capacity amid global supply-chain disruptions.
As the former Governor of the Reserve Bank of India, Das oversaw monetary policy during the COVID-19 pandemic, the inflation cycle triggered by global commodity shocks and multiple phases of financial market volatility. He currently serves as Principal Secretary to the Prime Minister. The CII Annual Business Summit comes at a time when Indian industry is closely monitoring the impact of the ongoing West Asia conflict on energy prices, shipping routes, input costs and global trade flows.
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Investor Takeaway
Indian businesses should focus on strengthening competitiveness, investing in innovation, and building long-term resilience.
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