With timely actions and sound policies, India can turn the COVID-19 pandemic—one of the greatest economic and social crises of our lifetime—into an opportunity to transform its economy and society. The unprecedented nature of the crisis has exposed the limits of the current development model, thereby providing an occasion to think differently and to rebuild the foundations of a more inclusive, resilient, and prosperous India. This Note highlights some of the key policies that could save lives, protect livelihoods, and expand the economy, which together constitute the first instalment in a series of policies that will be needed to build back a better India.