Das urges stronger domestic production while retaining global-market links

At the October 4 Kautilya Economic Conclave, the prime minister’s principal secretary-2 highlighted rare-earth magnets, economic stability and continued reforms.

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4 October 2026 · 1 min read

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Report prepared 5 Oct 2026, 7:50 am IST · Event date shown above

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At the October 4 Kautilya Economic Conclave, the prime minister’s principal secretary-2 highlighted rare-earth magnets, economic stability and continued reforms.

Event / development: 4 Oct 2026
Location: Delhi

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Shaktikanta Das, principal secretary-2 to the prime minister, said on October 4 that India should keep building production capacity in sectors dependent on imports. Speaking at the Kautilya Economic Conclave in New Delhi, he highlighted rare-earth permanent magnets as one area of focus.

Das said domestic capability should grow alongside participation in global markets. Moneycontrol’s report of his address also described a continuing push for structural reforms and economic stability. His remarks outlined policy priorities; they did not establish that a new magnet-manufacturing scheme had been launched that day.

Separate reporting by Fortune India quoted Das warning that wars, trade fragmentation, energy-price volatility and inflation could weaken global growth. He attributed India’s resilience to stronger governance, a healthier financial sector and earlier reforms.

ANI’s account identified artificial intelligence, financial-sector development, strategic self-reliance, sustainable development and investment in people as areas he emphasised for the next phase. These are the official’s assessments and priorities, rather than independently verified forecasts of future growth.