India needs more open trade, investment policies to withstand global shocks’

New Delhi India needs to strengthen its resilience to growing geopolitical and economic shocks by adopting more open trade and investment policies, deepening international partnerships and securing its position in global value chains, experts said at the 5th Kautilya Economic Conclave. Liqing Zhang, Professor of International Economics and Director of the Center for International Finance Studies at the Central University of Finance and Economics, said India could strengthen its ability to respond to external shocks by opening its markets further. He also said stronger economic engagement between India and China could benefit both countries, including through increased imports from India and greater Chinese investment in the country. Hans Peter Lankes, Managing Director and Deputy Chief Executive of ODI Global, said building economic resilience should remain central to policymaking. He highlighted the importance of fiscal, monetary and industrial policies in helping economies withstand recurring external shocks. Lankes also described India as an active leader of the Global South and said the country had managed several global economic challenges effectively. He noted that India-UK relations remained close and said the UK would be receptive to India's priorities ahead of its upcoming G20 presidency. Suraya Ismail, Director of Research at Malaysia's Khazanah Research Institute, stressed the need for countries to understand their position within global value chains and identify vulnerabilities arising from geopolitical tensions. She said countries should focus on identifying critical pressure points and work with Asian economies, including India, rather than withdrawing from international economic relationships. The experts' comments come amid heightened geopolitical tensions and uncertainty in global trade, highlighting the need for stronger international cooperation and economic resilience.