‘We are not going to escape the difficulties’: Sunil Mittal on global economic stress, urges India Inc to double down on domestic capex

Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, on Monday urged India Inc to step up domestic investments despite mounting global economic uncertainty, saying businesses should “double down” on capital expenditure rather than hold back amid the ongoing West Asia crisis. 

Speaking at the CII Annual Business Summit 2026, Mittal said India’s growth momentum remains intact despite external disruptions and called on the private sector to support the economy through higher investments and job creation. “These are difficult times. As a country, we had been moving at a fantastic speed, growing at 6-7% year-on-year. But situations have developed that are beyond anybody’s control,” Mittal said. 

He noted that the ongoing conflict in the Middle East was creating major disruptions for the global economy and warned that India would not remain insulated from the broader economic impact. “The current problem we are facing in the Middle East is creating tremendous stress in the global economy, and India is no different in that aspect. We are not going to escape the difficulties the world is facing economically,” he said. 

Referring to Prime Minister Narendra Modi’s recent address to the nation, Mittal said industry leaders must actively support the government’s efforts to navigate the crisis. “We in industry need to play a role. We employ millions of people and can take this message forward in a deep and meaningful way,” he said. 

Highlighting his company’s investment plans, Mittal said Bharti Airtel invested ₹31,000 crore in capital expenditure during FY25 and plans to raise investments further this year. “We need to invest more. This is not the moment to shy away. This is the moment to double down on investments in our country because the underlying growth is there. There is a large young population demanding more products and services,” he added. 

Mittal’s remarks came a day after PM Modi urged citizens to adopt austerity measures in response to the economic challenges arising from the prolonged West Asia conflict. The Prime Minister called on people to reduce fuel consumption, postpone foreign travel and destination weddings abroad, and cut down on gold purchases. 

Modi said global supply chains had already been strained by the Covid-19 pandemic and the Ukraine conflict, while the ongoing war in West Asia had further intensified pressures on the global economy. 

“We do not have major oil reserves. We import petrol, diesel and gas in large quantities. Due to this war, the prices of petrol, diesel, gas and fertilisers have risen significantly,” Modi said, adding that the government was absorbing much of the burden to shield citizens from the direct impact of rising global prices.