New Delhi

India is increasingly moving beyond short-term geopolitical risk management and focusing on building stronger economic safeguards for future global and domestic disruptions, according to Deepa Kumar, Head of Asia-Pacific Country Risk and Co-Lead of the India Research Chapter at S&P Global.

Speaking on the sidelines of the S&P Global India Research Chapter event in the national capital, Kumar said India is currently shaping strategies that extend well beyond managing present-day uncertainties.

She noted that policymakers are now looking at how the country can strengthen its economic foundations over the medium and long term, ensuring preparedness not only for existing geopolitical challenges but also for crises that may emerge in the future.

According to Kumar, the objective is to create durable economic buffers capable of protecting growth from both external shocks and domestic pressures.

She explained that this broader strategy is being built around two major priorities -- self-reliance and strategic diversification.

On self-sufficiency, Kumar said India is actively exploring ways to secure critical sectors so that the economy remains resilient even during periods of global instability.

At the same time, she stressed that no nation can function entirely in isolation, making strategic partnerships and alliances equally essential.

Kumar pointed out that India has increasingly turned to free trade agreements as an important tool for strengthening global economic ties. Referring to ongoing trade engagements with countries across regions such as Asia, Latin America, Africa, and with the United States, she said the country has seen a surge in such agreements.

She added that modern trade pacts are no longer limited to lowering tariffs or facilitating the exchange of goods. Instead, they are increasingly designed to harmonise regulatory systems and operational frameworks, allowing countries to build deeper strategic cooperation.

Kumar also highlighted the growing significance of services trade and overseas employment opportunities for Indian workers in these negotiations. She noted that remittances continue to play an important role in India’s economy, contributing around 3.5 per cent to the country’s GDP.

Addressing geopolitical tensions in West Asia, Kumar said India has already begun taking steps to reduce supply-side vulnerabilities by diversifying sources and engaging in discussions around sanctions-related waivers where necessary.

She further said the government is working to shield consumers from inflationary pressures in key sectors such as LPG and transportation, while continuing subsidy support despite fiscal limitations.

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Despite persistent global uncertainty, Kumar said India is projected to grow at 6.6 per cent in the current fiscal year, maintaining its position as the world’s fastest-growing major economy.