Intro: Sitharaman says India’s next growth phase must prioritise quality, resilience and stronger domestic capacity amid shifting global economic conditions.
New Delhi
Union Finance Minister Nirmala Sitharaman has said India’s next phase of economic growth must be built around quality, reliability and higher standards across businesses and institutions.
Addressing the 53rd National Management Convention of the All India Management Association in New Delhi, Sitharaman said quality consciousness should become a shared discipline among management professionals and corporate leaders.
She said every factory floor, boardroom, service centre and research and development team must work towards higher standards, fewer defects and greater reliability. The approach, she said, should be embedded not only in products but also in processes, services and institutions.
Sitharaman also highlighted the changing global economic environment, saying the world economy is passing through an unpredictable period while global trade and supply-chain structures are undergoing significant shifts.
She said resilience in such circumstances should not mean economic isolationism. Instead, India needs deeper domestic capacity, fiscal strength and industrial scale so that external shocks can be absorbed without disrupting national development.
The minister said global economic growth is slowing to below 3%, while India continues to expand at around 8%. Government data released in September showed India’s GDP grew 7.8% in the first quarter of 2026-27.
Sitharaman also pointed to the recent sovereign rating upgrade by Japan Credit Rating Agency. On September 2, the agency raised India’s long-term foreign- and local-currency issuer ratings from BBB+ to A-, retaining a stable outlook, and raised the country ceiling to A.
The minister said such developments reflect international attention towards India’s economic fundamentals as the country navigates an uncertain global environment.
