India more resilient than many economies due to strong domestic consumption: Salesforce South Asia CEO Arundhati Bhattacharya

The ongoing conflict in West Asia and disruptions in oil and gas markets have cast a shadow of uncertainty over the global economy. However, India—being largely driven by domestic consumption—is better positioned than many other countries and remains relatively resilient, said Arundhati Bhattacharya, President and CEO of Salesforce South Asia.

“India has certain strengths that make it resilient, including a large domestic consuming base. Economies that are heavily dependent on global supply chains face greater risks. To that extent, India does have some leeway,” she said.

Bhattacharya was speaking at the Business Today MindRush and India’s Best CEOs Awards in Mumbai.

She also pointed out that India is less leveraged compared to several other economies, providing room for fiscal and monetary adjustments amid ongoing global uncertainty.

While she does not see immediate concerns around consumption, Bhattacharya flagged potential risks in the rural economy, particularly due to possible disruptions in fertiliser supplies linked to the ongoing crisis.

“If rural areas and the farming community are impacted, there will be a knock-on effect on urban consumption as well,” she said, highlighting the interconnected nature of India’s consumption cycle.

She further stressed that India continues to benefit from a deep talent pool. While a gap remains between industry demand and available skills, efforts are underway to bridge this divide.

With India’s large youth population and the rapid rise of artificial intelligence (AI), Bhattacharya said technology will play a transformative role in the country’s growth trajectory.

She cited the success of the Pradhan Mantri Jan Dhan Yojana as an example of how technology can drive inclusion. “The percentage of families with at least one bank account rose to 98%, compared to around 58% earlier,” she said, underlining the scale of financial inclusion achieved.

“Indians have benefited significantly from technology. With AI, lifestyles will improve, services will become more efficient, and access will expand,” she added.

Bhattacharya highlighted the potential of AI in bridging infrastructure gaps in rural India. “Reaching over 600,000 villages through traditional brick-and-mortar infrastructure is not feasible. Technology and AI are critical to delivering education, healthcare, and other essential services,” she said.

She described AI as a key enabler of improved quality of life, better service delivery, and higher living standards.

Drawing on her extensive experience—including her tenure as Chairperson of State Bank of India—Bhattacharya emphasised the importance of resilience in navigating crises.

“You have to be resilient. Challenges will come your way, but they also bring opportunities. They are two sides of the same coin. If you can identify the opportunity within the challenge, you will continue to prosper,” she said.

Her message underscores a broader theme: while global uncertainties persist, India’s structural strengths—domestic demand, talent, and technology adoption—provide a strong foundation for long-term growth.