#WATCH# | Delhi: TV Narendran, CEO and Managing Director of Tata Steel Limited, says, "The conflict in West Asia disrupted shipping through the Strait of Hormuz, one of the world's most important energy routes. Traffic through the Strait remains well below normal levels even now. For a country like India, these things have very direct consequences: energy costs go up, shipping costs change, insurance premiums change, supply chains get disrupted, and eventually, all of that finds its way into the cost of doing business. Yet, despite all this, the Indian economy grew at 7.8% in the April-to-June quarter. Investment grew by 11.9%, while manufacturing and services remained important contributors to growth. This tells us about the underlying strength of the Indian economy. We have a very ambitious trajectory ahead of us. We want to become one of the world's largest economies. We want to create productive employment for a very large young population. We want Indian companies to become much more significant participants in global value chains..."

#WATCH# | Delhi: TV Narendran, CEO and Managing Director of Tata Steel Limited, says, "We are becoming more conscious of risks that may not have been central to business thinking in the past. The terrible events that we've seen recently in Nepal are a painful reminder of that. The loss of life and the devastation caused by the floods are deeply distressing, and our thoughts are with the people of Nepal and everyone who has been affected. It's difficult to predict events of this nature. It reminds us that preparedness today has to mean more than preparing for the risks that we already know. Climate events can be very difficult to anticipate. Geopolitical developments can change the assumptions on which businesses have been planned for years. Technology is moving at a pace that can make some of the skills and business models we take for granted look very different in a short period of time. And we have seen how quickly the impact of geopolitical events is felt in the economy..."

#WATCH# | Delhi: TV Narendran, CEO and Managing Director of Tata Steel Limited, says, "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. There has probably also never been a time when it has been harder to predict what the global environment is going to look like a few years from now. These two things are connected. The world is changing, and that change is creating an opportunity for India; but 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. Even recently, we had a BRICS Summit here in New Delhi. If you look at what BRICS is discussing today, it tells you something about the direction in which the global economy is moving. There is a lot of focus on trade, investment, technology, energy, supply chains, and greater participation of emerging economies in global value chains, especially in light of global tariffs and trade restrictions. And this is happening against a backdrop where the global trading system is becoming even more contested..."