ET Awards: India's setting the pace, not just keeping it, says Deloitte South Asia CEO Romal Shetty

India's economy stands strong and is better positioned than most to navigate global disruptions given the resilience backed by macroeconomic stability, pursued by finance minister Nirmala Sitharaman, said Romal Shetty, CEO of Deloitte South Asia.

"Our domestic consumption-driven economy, which makes up 62% of our GDP, shields us from external fluctuations. And our favourable geopolitical alignment opens doors where others see barriers," Shetty said at the ET Awards for Corporate Excellence in Mumbai on Saturday.

Beyond these strengths, India's greatest asset is its people and with a median age of just 29, the country has a demographic dividend that will last two more decades, he said. "India's moment is now, and the world is watching," he said.


As the world's STEM capital, India houses the largest IT and innovation workforce, with global capability centres driving digital transformation. However, the rapid evolution of technology, GenAI, Agentic systems and deep tech demands immediate action. If India does not move quickly, its current advantages could become missed opportunities, he added.

"Thankfully, India is not just keeping pace - we are setting the pace. Under the visionary leadership of our prime minister and the focused execution of (Union IT minister) Ashwini Vaishnaw, India is taking decisive steps," Shetty said.


Five semiconductor plants are underway, with the first made-in-India chipset to debut in 2025. India's own large language model, optimised for efficiency and trained on diverse data, will soon be a reality. According to him, all these efforts will cement India's place among the top five AI and deep-tech nations globally. The latest budget reinforces this vision, going beyond financial planning to prioritise research & development and emerging technologies, he said.