Aditya Birla Group Chairman Kumar Mangalam Birla on Wednesday said India’s economy is growing rapidly and the country is showing economic stability at a time when the world is witnessing political instability, trade rules and a sea change in global relations.

In the seventh edition of his ‘Annual Reflections’ note, Birla said that the global environment remains volatile, yet India’s economy continues to show stability and strength.

He described this note as a personal exercise and called it a ‘disciplined pause’ to reflect on the world, his work, and his changing thoughts.

He described it as his ‘mind’s account’, in which he assesses global changes, India’s economic rise, the journey of the Aditya Birla Group and the experiences he has gained from building the business over the long term.

“Global politics is no longer guided by fixed rules, but by constant negotiations and compromises,” he said in the note.

Birla said, “The world now works like a geopolitical market, where today’s partners in the energy sector may not be allies in the technology sector, and today’s friends may not share the same priorities tomorrow.”

Birla explained that this has made decision-making more complex for both countries and businesses and the options less predictable than before.

Birla further said that despite this global uncertainty, India’s economic momentum remains strong and stable.

He said India’s growth is driven by its large population, rapid infrastructure expansion, increasing formalization of the economy and rising ambition among people and businesses.

“In a world where the focus is largely on trade and bargaining, India offers size, credibility and consistency,” he said.

On the journey of Aditya Birla Group, Birla said that the group has grown along with India by not only becoming a beneficiary of development but also an active contributor.

“The group has always aimed to grow in step with the nation it serves,” Birla said.

Birla also highlighted the rapid growth in credit given to micro, small and medium enterprises in the last decade.

He said while loans given to MSMEs in the country have increased three-fold in the last 10 years, Aditya Birla Group’s NBFC loan book has grown from about Rs 17,000 crore to about Rs 1.5 lakh crore in the same period.