Davos 2026: Global business talks incomplete without India amid geopolitical uncertainty, says KPMG's Yezdi Nagporewalla

KPMG India CEO Yezdi Nagporewalla with Moneycontrol's Chandra R Srikanth at the World Economic Forum in Davos

• India seen as a key player in global business amid geopolitical uncertainty
• EU and India close to finalising a major free trade agreement
• AI remains a top focus for CEOs, driving corporate investment discussions

Did our AI summary help?

In a landscape defined by geopolitical uncertainty, global business discussions are no longer complete without India, KPMG India CEO Yezdi Nagporewalla told Moneycontrol in an interview at the World Economic Forum in Davos on January 20.

"The elements of geopolitics, the uncertainty around geopolitics, and specifically India and its positioning in the scheme of things is getting discussed quite a lot" Nagporewalla said, adding that "India definitely has emerged as a relevant or a potentially relevant player."

Earlier today, European Commission President Ursula von der Leyen said that the European Union is close to finalising a free trade agreement with India.

During a speech at the World Economic Forum in Davos, the EU chief said that both sides are on the "cusp of a historic trade deal", signalling that the pact could be signed soon. She also described it as the "mother of all deals".

"There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of 2 billion people, accounting for almost a quarter of global GDP," she said in a section of her speech on EU efforts to diversify its trade.

Nagporewalla said such deals create clarity and enhance trust.

"It knocks off uncertainty. There's a field of play and then corporate India or even the government or state governments know the playing field and what the rules are. If trust is enhanced and uncertainty is reduced, then you have a different scheme altogether," he said.

India has to turn self-reliant

Given the geopolitics and uncertainty, India has to gradually turn self-reliant, Nagporewalla added.

"That's why you see the thrust in manufacturing and local production. I would expect the budget to continue looking at local capabilities," he said.

AI dominating boardroom conversations

That said, Nagporewalla noted that artificial intelligence (AI) still dominates a huge amount of conversations among CEOs, particularly on the next level of AI and the investments corporates and governments should make.

He believes that corporates and business houses can no longer remain on the periphery of AI and simply watch things happen.

"It's now time to come in and play the game, and to assess the corporate-wide investments they would like to make," he said. "Then comes the question of ROI and relevance to the scheme of play."