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Key Points

India's Chief Economic Advisor expressed confidence in the country's economic resilience despite global headwinds. The IMF projects India will remain the fastest-growing major economy with 6.2% expansion in 2025. Key priorities include infrastructure investment, skill development, and leveraging technology for inclusive growth. NITI Aayog reaffirmed India's vision to become a developed economy by 2047 through sustained reforms.

Key Points: CEA Nageswaran Says India's Economy Strong Despite Global Challenges

  • CEA cites strong indicators for India's economic progress
  • IMF projects 6.2% growth for 2025
  • Focus on human capital and infrastructure investments
  • NITI Aayog targets developed economy status by 2047
2 min read

India's economy is in good shape despite challenging global environment: CEA Nageswaran

India's Chief Economic Advisor highlights economic resilience, IMF growth projections, and key reforms needed for sustained expansion amid global uncertainty.

"India's economy is in good shape despite challenging global environment - CEA V Anantha Nageswaran"

New Delhi, May 4

Chief Economic Advisor (CEA) Dr V Anantha Nageswaran expressed confidence in the economy's resilience and said India's economy is in good shape despite the challenging global environment.

Speaking at an event at Ashoka University on Saturday, India's CEA Nageswaran also said that the current economic indicators show that the Indian economy is progressing well.

Nageswaran highlighted the need for India to maintain macroeconomic stability while pursuing innovation-led, inclusive growth strategies. He stressed the need for targeted investments in human capital, technology, infrastructure, and continued structural reforms.

"India's economy is in good shape despite challenging global environment. While the final number for FY25 will be available in May, current indicators suggest we are progressing well," he added.

In his address, Nageswaran also highlighted top priority areas, including energy affordability and energy transition; employment generation and artificial intelligence; the share of income accruing to capital and labour owners; education and skilling; the rise of manufacturing and SME; and food security and private sector capital formation.

India is poised to lead the global economy again, with the International Monetary Fund (IMF) projecting it to remain the fastest-growing major economy over the next two years. According to the April 2025 edition of the IMF's World Economic Outlook, India's economy is expected to grow by 6.2 per cent in 2025 and 6.3 per cent in 2026, maintaining a solid lead over global and regional peers.

Suman Bery, Vice Chairman of NITI Aayog, in his keynote address during the event, emphasised India's long-term vision of becoming a developed, high-income society by 2047.

He emphasises the need for sustained and accelerated growth, focusing on the importance of labour productivity, investment, and structural reforms to boost the economy.

"Over the last three decades, India has achieved a consistent annual growth rate of 6.5 per cent, and I think it's an impressive achievement. It showcases both institutional agility and a certain institutional maturity in India," he said.

"The global turmoil could be an opportunity for India, and there is no time to lose when it comes to moving on a faster growth trajectory," Suman Bery added, highlighting that India can leverage demographic dividend, technology and geopolitical shifts to accelerate growth.

- ANI

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Reader Comments

R
Rahul K.
Good to hear positive news about our economy! But I hope this growth reaches common people too. Petrol prices are still pinching our pockets and vegetable prices make us think twice before cooking. GDP numbers are fine, but what about middle-class struggles?
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Priya M.
The focus on skilling and manufacturing is much needed! 👏 As someone working in HR, I see so many graduates without job-ready skills. If we can bridge this gap, India's demographic dividend will truly pay off. More ITIs and vocational training centers please!
A
Amit S.
While the numbers look good, we must not ignore regional disparities. Growth is concentrated in few states/cities. What about Bihar, UP, Northeast? Need balanced development across all regions to truly call it India's growth story.
S
Sunita R.
The SME sector is the backbone of our economy! Happy to see it getting attention. My small packaging business got a boost from government schemes last year. More such initiatives will create lakhs of jobs. #VocalForLocal
V
Vikram J.
IMF projections are encouraging but let's be practical - global headwinds are real. Our exports are suffering, IT sector is slowing down. Instead of celebrating early, government should focus on stabilizing these sectors. Prevention is better than cure!
N
Neha P.
Energy transition is crucial! ♻️ In my housing society, we've installed solar panels and reduced bills by 40%. If scaled nationwide, imagine the savings and environmental benefits. Government should incentivize renewable energy adoption at grassroots level.

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