India can bring resilience back to world economy: Tata Sons chairman

India has gone through a major attitude transition in recent years and is now in a position to take the lead in bringing resilience back to the global economy, Tata group chief N Chandrasekaran said on Wednesday (January 18).

Speaking at a session on ‘India’s road to a $10 trillion economy’ at the World Economic Forum Annual Meeting 2023 in Davos, he also said that the country has mastered the art of leveraging technology. The Tata Sons Chairman said India produces the largest number of graduates, which is one of several factors giving it a huge advantage.

“The country has gone through an attitude transition and it was at its best show during the COVID pandemic when we saw our own vaccines getting manufactured in India,” he said.

“The digital transition we saw has also been phenomenal. For me, the three most important things are growth, growth and growth. The world needs resilience, and India is in a position to take the lead, including on supply chain frameworks,” he said.

Indian potential

India has huge opportunity and potential to lead the world in areas like health, care economy and tourism, Chandrasekaran said. He said India now receives about 10 million tourists a year but it has the potential to get 100 million.

But for that “we need to build infrastructure, and a lot of work is happening on airports, surface transportation and shipping areas”, he said. “We are not yet there, but we can definitely get there and all we need is ‘execute, execute and execute’,” Chandrasekaran said.

All these goals, he insisted, were very much achievable in the next 25 years.

Speaking in the same session, Union Minister Smriti Irani said India has shown its capabilities on several fronts during the COVID-19 pandemic period, whether it was about testing capacity, production of PPE kits and many other areas.

(With input from Agencies)