If there is one defining trait of India Inc in recent years, it is the ability to absorb shocks and keep moving. This year, the global backdrop has once again turned hostile. The conflict in West Asia has triggered an oil and gas shock, pushing up prices and disrupting supplies due to the blockade of the Strait of Hormuz. For a nation heavily reliant on imported energy, the ripple effects are visible across the economy.
This disruption carries a deeper lesson; it is yet another reminder that such dependence comes with risks. The policy push towards aatmanirbharta should, therefore, not be seen as an inward-looking exercise, but about building resilience and domestic capacity while keeping the economy open to global capital.
The ongoing conflict also underlines that multi-alignment has to be the mainstay of our foreign policy. In a fragmented world, India will continue to seek advantage by engaging with many partners. This approach will reduce vulnerability, and in turn enable Indian companies to navigate volatility with greater confidence.
On its part, India Inc is already demonstrating agility in responding to changing tides. This year’s BT-PwC India’s Best CEOs list highlights firms that have navigated a volatile business environment.
The winners reflect a strong corporate landscape. Take Arundhati Bhattacharya, honoured with the Lifetime Achievement award. Her journey from banking to leading Salesforce in South Asia exemplifies how leaders can reinvent themselves. Similarly, Vellayan Subbiah, the Business Icon of the Year, and Arun Alagappan of Coromandel International, the winner in the Farm Champion category, represent the strength of a legacy mercantile family that is in lockstep with the rapidly changing economy.
Urban infrastructure and capital goods also find strong representation this year. S.N. Subrahmanyan of L&T reflects both the scale of India’s infrastructure ambitions and the growing capability to deliver. Karan Adani of Adani Ports & SEZ appreciates how logistics has become central to economic resilience and national security.
Manufacturing is a growing pillar of the Indian economy. Anish Shah of Mahindra & Mahindra and Sunil Vachani of Dixon Technologies demonstrate how Indian companies can scale up through a combination of innovation and speedy execution.
Energy, understandably, sits at the heart of this year’s narrative. Leaders such as G. Krishnakumar at BPCL illustrate the complexity of navigating this transition. While there are no easy or immediate alternatives to fossil fuels, the shift towards cleaner energy is also exposing gaps in domestic inputs and technological capability.
Other notable leaders across metals, mining, and capital goods are similarly working to meet the demands of a rapidly expanding economy.
What ties these leaders together is a shared mindset of not waiting for uncertainty to dictate their business. They adapt and transform.
The road ahead will remain uncertain. But the playbook is now clear: diversify, de-risk, and build within.
