Tata Steel CEO and managing director TV Narendran said India is witnessing an unprecedented level of global attention, with countries and companies increasingly looking at the nation as a market, manufacturing destination and source of technology and talent.
Speaking at an event on September 21, Narendran said the current global environment has created a significant opportunity for India, but the country will need to strengthen its competitiveness to make the most of it.
"There has probably never been a time when the world has been more interested in India, as a market, as a manufacturing base, as a source of technology and talent, and increasingly as a strategic partner," he said.
India faces opportunity amid global shifts
Narendran said major geopolitical changes taking place worldwide have opened a window of opportunity for India. However, he added that the country’s ability to benefit from these developments will depend on improving its capabilities and competitiveness.
"Whether we are able to capture that opportunity will depend on how capable and competitive we become. You can see this change happening around us," he added.
He highlighted discussions at the recently concluded BRICS Summit in New Delhi, saying they reflected the changing priorities of the global economy.
The focus, he said, is increasingly moving towards trade, investment, technology, energy, supply chains and the role of emerging economies in global value chains.
Global trade landscape becoming more contested
Narendran said these changes are unfolding at a time when the international trading system is facing growing challenges due to tariffs and trade restrictions.
"And this is happening against a backdrop where the global trading system is becoming even more contested," he said.
He noted that the changing global environment presents India with new possibilities, but success would depend on creating stronger capabilities across sectors and becoming more competitive in international markets.
