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The world is entering an era of re-globalisation—one built not on retreat but on diversification, trusted partnerships and shock-resistant systems, said former Foreign Secretary of India Nirupama Rao at the 52nd Foundation Day celebrations of the Indian Institute of Management Bangalore (IIMB) on Wednesday. Delivering the Foundation Day lecture on ‘Beyond Borders: Preparing for a World in Transition’, Ms. Rao outlined the shifts reshaping global politics, economics and leadership. “The vocabulary of global affairs has shifted. Geopolitics today is no longer about territory and force alone. Supply chains are the new borders, technology the new territory, data the new diplomacy, climate the new conflict line and narrative is the new battleground. In short, geo-economics now determines corporate destiny,” she said. Ms. Rao said this transformation represents re-globalisation, not de-globalisation, with the world reorganising itself for resilience. “The world’s operating system is moving toward multipolarity, and power is no longer stored in one capital or expressed through one model. India has been pivotal in this shift, and that is why India’s presidency of the G20 mattered,” she added. She described India’s strengths such as democratic stability, demographic vitality, digital inclusion, and a deepening manufacturing base as the foundation for the country’s growing global role. Elaborating further on what leadership in this new age requires, Ms. Rao identified the “capitals of tomorrow” -- trust, data, demographic, climate and cultural capital and said India has strengths across all five. She underlined the need for integrity and accountability, particularly in an era dominated by technological disruption. “Leadership in technology must be ethical. We must therefore lead not only in AI development but in AI governance - transparent, accountable, and human-centred. Technology must serve humanity, not replace it,” she said, adding that ethics should go beyond compliance. On climate change, Ms. Rao called it a determinant of both economic destiny and national security. “The climate discourse must move from guilt to responsibility and from pledges to execution. Sustainability must become the language of business, not only of policy.” Reiterating that India is ready to shape the global agenda, she added, “India is no longer waiting to be invited to the table, India wants to co-author the script.” She urged IIMB and other higher education institutions to go beyond teaching problem-solving and instead cultivate future-building. The world needs leaders who are economically intelligent and geopolitically aware, data-driven and human-centred, anchored in purpose. The age of single-discipline leadership is past, this is the age of integrated leadership, she said. The Foundation Day celebrations also included the Alumni Service Awards (ASA), instituted in 2023 to honour graduates who have made enduring contributions to the institute and alumni ecosystem. This year’s awardees were Navin Kumar (PGP 1999), Karan Bhagat (PGP 2001), and Michael Sequeira (PGP 2010).
