India’s Growth ‘Creditable’ Amid Global Headwinds, Says CEA Nageswaran

By A Staff Reporter

Thiruvananthapuram, Kerala: Chief Economic Adviser (CEA) V. Anantha Nageswaran on Monday underscored the resilience of the Indian economy in the face of complex global challenges, asserting that a projected growth rate of 6.5% for the fiscal year 2024–25 is both credible and commendable. He further projected a growth range of 6.3% to 6.8% for the following year, 2025–26.

Speaking at an event in Thiruvananthapuram, Nageswaran noted, “The global context has become uncertain and complex. Economic and political conditions have turned unfavourable for growth globally. Yet, India has managed to maintain a robust growth trajectory.”

He highlighted that India’s economic performance stands out significantly when compared to developed economies. “The difference between India's growth rate and the average growth rate of developed nations is now far greater than it was even during the 2003–2008 period when we were growing at 8–9%. To sustain 6.5% in today’s environment is a creditable achievement,” he said.

Looking ahead, the CEA expressed cautious optimism, linking future growth improvements to policy momentum and implementation speed. “The current government introduced significant policy measures in the last two Union Budgets. If we are able to accelerate execution and convey a sense of dynamism, there is a strong possibility that we could exceed current growth projections.”