If you are in non technical role, then you should be leading sizable team members,
handling delivery challenges,
bringing business (directly indirectly). But you should not just मुकादम😀
If you are in technically role, then also you need to very good at it (in your industry, domain etc).
You can be handling Enterprise Architect or Senior solution Architect kind of role.
If you are not in high growth areas then management role will be limited or risky to layoff.
If you are technically really good then can remain in technical senior roles. On Multinational product based companies it will be very valuable. It may not that valued in Indian IT companies (infy, wipro, tcs etc)