Business Standard Manthan 2026: Global flux drives new growth conversation

Through the day, the Manthan fireside chats and panel discussions sparked a unique debate on making India future-ready through the prism of energy transition, food security, technology, self-reliance

The concluding day of Manthan — the annual thought leaders’ summit hosted by Business Standard — captured the nuances of geopolitical turmoil as much as the economic stability of India. Through the day, the Manthan fireside chats and panel discussions at Bharat Mandapam, the prestigious convention venue in New Delhi, sparked a unique debate on making India future-ready through the prism of energy transition, food security, technology, and self-reliance. Eminent speakers — Cabinet ministers to company CEOs and sector experts — enthralled the audience across 13 diverse sessions. The summit wrapped up on a cinematic note, with artificial intelligence as backdrop.

 

 

Sitharaman: Cannot rush to say ‘BITs with everyone’,  nor can say ‘no BIT at all’

  India is moving beyond its 2016 Model Bilateral Investment Treaty (BIT) template, marking what Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, called “a lot more progressive” approach to investment protection. Though India still pegs itself to the BIT model, she said the government now tweaks it transparently, with full Cabinet approval, a shift that has supported agreements with the United Arab Emirates, Saudi Arabia and potentially Oman.

 

BITs, the minister stressed, are no longer the decisive lever they once were: “Countries have prospered with investments coming in despite not having a BIT. So I cannot rush to say ‘BITs with everyone’, nor can I say ‘no BIT at all’. The world is a lot more dynamic today.” That pragmatism, Sitharaman indicated, is grounded in experience. She flagged cases where foreign investors invoked treaty arbitration on taxation matters or bypassed the Indian judicial system despite pending Supreme Court–level remedies, observing: “There are many such elements which become deal-breakers.” 

On Press Note 3 and scrutiny of cross-border inflows, she said checks on ultimate beneficial ownership apply broadly, “not specifically talking about China,” alongside compliance with FEMA and FATF norms. Sitharaman attributed tepid net FDI partly to global currents and described policymaking amid volatility: “Uncertainty level A in the morning, uncertainty level B in the afternoon.” 

On the public sector enterprises policy of 2021, she said progress should not be judged only through privatisation, citing the opening of space and atomic-energy sectors to private players.  

 

Joshi: Renewable energy sector likely to draw $350 bn investments in five years 

India’s renewable energy sector is likely to attract $350 billion in investments over five years as the government pushes toward its 500 Gw non-fossil capacity target by 2030, supported by expanded domestic manufacturing and additional 41 Gw of energy storage, said Pralhad Joshi, Union Minister for New & Renewable Energy and Consumer Affairs, Food & Public Distribution. Solar PV module capacity has reached 140 Gw, enabling exports, backed by ₹24,000 crore under the PLI scheme, he said. The minister said rapid capacity additions have helped cut power costs. “Last year, India’s total installed capacity crossed 50 Gw... Today, every investor, fund manager, multilateral bank, and financial institution wants to come to India,” he added.