Chief Economic Advisor (CEA) V. Anantha Nageswaran on Sunday said that current indicators point to a robust Indian economy, which continues to register strong growth despite a challenging global environment.
Speaking at an event hosted by Ashoka University, Nageswaran said, “India’s economy is in good shape despite the challenging global environment. While the final numbers for FY25 will be available in May, current indicators suggest we are progressing well.”
The CEA identified energy affordability, employment generation through energy transition, and the rise of manufacturing and MSMEs (Micro, Small and Medium Enterprises) as key priorities for sustaining economic growth. He also highlighted the role of artificial intelligence, education, and skilling in driving future development.
He stressed the importance of maintaining macroeconomic stability, which involves keeping inflation in check while ensuring inclusive growth as the country moves forward.
NITI Aayog Vice Chairman Suman Bery, speaking at the event, echoed a long-term vision for India to become a developed, high-income nation by 2047. He noted that India’s economic performance over the last three decades has demonstrated both institutional maturity and agility.
“India has achieved a consistent annual growth rate of 6.5 per cent over the last 30 years, which is a remarkable achievement,” Bery said. He added that global disruptions could present strategic opportunities for India to leverage its demographic dividend, technological advancements, and geopolitical positioning to boost growth.
According to the International Monetary Fund (IMF), India remains the fastest-growing major economy in the world. The April 2025 World Economic Outlook, released last month, forecasts that India’s economy will grow at 6.2 per cent in 2025 and 6.3 per cent in 2026. These figures place India well ahead of China, which is projected to grow at 4 per cent in 2025 and 4.6 per cent in 2026.
IMF Chief Economist Gita Gopinath noted that global growth is expected to slow to 2.8 per cent in 2025, with 127 countries, representing 86 per cent of global GDP, facing growth downgrades.
The United States, a key global economic driver, is expected to see its GDP growth moderate to 1.8 per cent in 2025, with a further decline to 1.7 per cent in 2026, the IMF report stated.
(IANS)
