India must build leverage to lead in an age of polycrisis: Shashi Tharoor

India's journey towards becoming a Viksit Bharat will not be shaped by a stable global environment, but by its ability to navigate uncertainty, build resilience, and strategically leverage a volatile global order, Chairman of the Parliamentary Standing Committee on External Affairs, Shashi Tharoor asserted at a high-level fireside chat convened by CUTS International in New Delhi.

Speaking at the CUTS’s event titled "Leveraging a Volatile Global Order: Accelerating India's Journey Towards Viksit Bharat", Tharoor underscored the centrality of leverage in contemporary diplomacy and economic statecraft.

"Leverage is crucial in any negotiation; if we intend to compel future world leaders to negotiate with us, we must establish a position of strength," he remarked, situating India's global engagement within the realities of an era marked by polycrisis.


Delivering the welcoming address, Pradeep S Mehta, Secretary General, CUTS International, emphasised that "Consumer protection, competition law, and international policy inherently require market regulation, a fundamental principle that CUTS has highlighted in more than forty years to show the critical role of Civil Society Organisations in modern India".

“Over the last 40 plus years we have been able to place consumer welfare at the heart of every economic policy as the raison d’etre of all economic policies is consumer and public welfare”, asserted Mehta.

The event took place against the backdrop of a rapidly transforming international system defined by geopolitical fragmentation, economic uncertainty, technological acceleration, and climate stress, where national development trajectories are increasingly intertwined with external engagement and strategic choices.

Tharoor emphasised that long-term stability must remain a guiding objective even amid volatility. "In the long term, stability is essential as we consider market dynamics, and all these factors are equally indispensable. We must strengthen our economy to effectively address these challenges," he said.

Setting the tone for the evening, Tharoor articulated a nuanced vision of India's evolving global role, one anchored in strategic autonomy, democratic values, and economic resilience, while remaining deeply engaged with global institutions and partnerships. The dialogue underscored that volatility, while disruptive, also opens strategic space for countries equipped with institutional capacity, diplomatic credibility, and developmental ambition.

“Tax terrorism remains an unfortunate feature that drives Indian capital abroad. While the government has rightly begun dismantling outdated laws, the old bureaucratic culture of arm-twisting still stands as a major hurdle in achieving true ease of doing business”. he added.

He highlighted that India's demographic strength, technological capabilities, and diplomatic capital position it uniquely to act as a stabilising force in an unsettled world, provided policy choices remain forward-looking, coordinated, and evidence-driven.

A key theme of the discussion was the critical role of human capital and knowledge systems in shaping India's future competitiveness.

"Given that we represent 17.2% of the global population and intellectual capacity, it is imperative that we leverage this potential. However, our current contribution to global research stands at only 4%," Tharoor noted.

This disparity, participants observed, highlights an urgent need for strategic investment in research, innovation ecosystems, and talent identification to ensure that India's demographic dividend translates into global leadership in knowledge production.

Former Vice Chief of Army Staff and a CUTS Distinguished Fellow, Lt Gen Arvinder Lamba reminded the audience that security and economy are closely interlinked and the people and policy makers must bear this in mind as the best levers for secured growth.

The idea of Viksit Bharat, speakers agreed, cannot be reduced to income metrics alone. Instead, it must encompass institutional strength, human capital development, equitable growth, and global responsibility. India's external engagements across trade, climate negotiations, digital governance, and South-South cooperation were identified as critical levers in accelerating domestic development outcomes.

Participants noted that India's ability to shape global narratives will ultimately depend on its success in delivering growth, opportunity, and institutional credibility at home.

The discussion also reinforced the importance of consumer protection, competition law, and effective market regulation principles that CUTS International has long championed.

At the event, Pradeep S Mehta also announced the TRaNJA (Trade and Not Just Aid: Winners and Losers of the WTO System) a campaign by CUTS, which is steered by an international 21 member steering committee, chaired by Shashi Tharoor and co-chaired by Pascal Lamy, former Director-General, WTO.

This campaign is to revive support to the World Trade Organisation through spreading awareness on winners and losers of the system around the world at the policy level and the grassroot level. The fact that the WTO is the most effective multilateral instrument and recognised by many leaders in the world, including India’s globally popular leader, Narendra Modi.

Evidence-based policymaking and stakeholder engagement were highlighted as essential tools as India navigates complex trade-offs between growth, sustainability, and strategic autonomy. In this context, platforms that bring together policymakers, media, civil society, and the research community were seen as vital to informed and balanced decision-making.

CUTS International reiterated its commitment to advancing policy research, advocacy, and grassroots engagement that bridge global debates with local realities.

Delivering the vote of thanks, Varidhi Singh, Director at CUTS International, recognised the role of Funders in making this event a success, given the Fundraising nature of the event in the developing global volatility that has also affected independent not-for-profit civil society organisations like CUTS International.