50^th NATIONAL MANAGEMENT CONVENTION

Indian economy has attained the critical mass to sustain a fairly high rate of growth for the next few decades. It has been steadily climbing the ranks of the largest economies in the world and it is poised to become the third-largest economy by 2030. India's focus on industrialization, digitalisation and green technologies is creating new growth opportunities. However, Indian economy is still vulnerable to shocks, as witnessed during covid disruption and war-generated inflation spike, and its growth momentum is susceptible to compounding global uncertainty. The aggravation of geopolitical rivalries and worsening economic balkanisation is affecting national choices in trade and access to technology and investment. While the rearrangement of international partnerships and alliances has opened vast opportunities for India to profit from the evolving supply chains, capital flows and technology sharing arrangements, the volatility of alliances and terms of partnerships impose significant uncertainty on India's prospects. The growing conditionality of market access because of geopolitics and weaponisation of environmental and governance differences can also constrain India's ability to exploit its full economic potential, Climatic events also pose a significant risk to India's growth resilience and India is under pressure to balance fast growth with sustainability. While India's ascent is guaranteed by the size of its population and economy, and its centrality to the new geopolitics, the country's policy and business leaders need to find ways to navigate the global uncertainty that can affect the pace and extent of the ascent.