'Aatmanirbhar means readiness for uncertainty', says Principal Secy to PM

BS Manthan: PK Mishra, principal secretary to the Prime Minister of India, believes the country must adopt an 'anti-fragile' approach in an uncertain world

The world is becoming more interconnected, and recent global crises have highlighted the risks of excessive dependence on external supply chains. In an uncertain global backdrop, Pramod Kumar Mishra, principal secretary to the Prime Minister, says PM Modi’s vision of ‘Aatmanirbhar Bharat’ focuses on preparedness rather than isolation.   

 

“The Covid-19 pandemic showed us that we cannot afford to be too dependent on external sources because supply chains can be disrupted. Therefore, the Prime Minister speaks of ‘Aatmanirbhar Bharat’,” Mishra explained. He explained the concept does not advocate shutting India off from the rest of the world, instead ensuring that the country remains prepared for disruptions.

 

He made the remarks during a fireside chat on the topic ‘How India should negotiate an uncertain world’ on the first day of the annual BS Manthan summit in New Delhi.

  Reflecting on the recent global events, Mishra emphasised how the world has faced successive crises, from the Covid-19 pandemic to the Russia-Ukraine war and the ongoing tensions in West Asia. “It is a more uncertain world today,” he said, adding that economic apprehensions continue to be high and many nations are rolling out stimulus packages to counter downturns.  

 

Navigating an uncertain world

“Even during slowdowns, PM Modi sought opportunities rather than just reacting to crises. We are optimistic — we withstood the pandemic and multiple geopolitical crises,” he said.   

Mishra also touched upon challenges posed by ‘protectionism and trade disputes’, noting that discussions around reciprocal tariffs are intensifying. However, he described Modi’s recent visit to the US as “very positive,” particularly in negotiating a military deal and strengthening economic ties.   

Mishra argued that it's time for India to look beyond resilience and adopt an ‘anti-fragile’ approach to uncertainty. “Before designing policy, we must analyse risks and uncertainties. Risks can be calculated, but uncertainty — such as the Covid-19 outbreak or the war in Ukraine — cannot be easily measured. Our systems should not just be resilient but anti-fragile,” Mishra said.   

The global economic landscape is shifting, with many nations ensuring they manufacture essential goods domestically. “Many countries — consciously or unconsciously — are making sure they are manufacturing for critical needs,” he said.  

  India’s demographic size and economic standing provide a strong foundation to navigate these uncertainties. “We are one of the world’s largest economies in absolute terms, with a vast consumption base and a demographic advantage. With our digital public infrastructure and technological capabilities, we should be able to sustain external pressures and negotiate from a position of strength,” Mishra said.

  He stressed that India would continue to focus on bilateral, regional, and multilateral relationships in the evolving global trade environment.  

 

Agriculture remains crucial to India’s growth

Contrary to the belief that agriculture loses relevance as a country develops, Mishra emphasised that the sector remains crucial for India despite shifts in its economic structure. “Agriculture is of utmost importance. It will not become less important as we climb the ladders of development,” he said. 

While agriculture’s share in GDP has declined, Mishra said its role in employment generation remains largely unchanged. “We cannot claim that no progress has been made in agriculture over the past few decades. There was a time when we relied on external assistance for food grains. Today, we are exporters. Agricultural exports are a crucial component of this progress,” he said.

  He also highlighted the resilience of agriculture, noting that the sector has continued to grow despite inherent risks. “By nature, agriculture is not averse to risks. However, after 2014, the rate of agricultural growth has increased. Horticulture, fisheries, and the dairy sector are also growing,” he said.  

  Emphasising the role of diversification in Indian agriculture, Mishra pointed to the importance of non-farm income. “We are encouraging farmers, especially those with less than half an acre of land, to diversify their income through non-farm activities. The government seeks to increase non-farm income,” he said.