Vinay Kumar
NEW DELHI: In a world clouded by war, economic uncertainty, and fractured geopolitics, Chief Economic Advisor (CEA) V Anantha Nageswaran says India continues to shine as a rare “bright spot,” defying odds with robust economic performance and strategic stability.Speaking to PTI, Nageswaran described the global landscape since 2022 as increasingly volatile, marked by intensifying conflicts, from Ukraine and West Asia to India’s own tensions with Pakistan. “Downside risks are higher than the potential for upside surprises,” he said, acknowledging the challenges facing most economies worldwide.Yet India, he asserted, has shown surprising resilience. “We have reduced the fiscal deficit, brought down government debt, and narrowed the bond yield gap with the US, a first,” the CEA noted. With growth holding steady at 6.5%, India is outperforming most major economies, even as others struggle under inflation and geopolitical stress.Nageswaran credited strong macroeconomic reforms and investor-friendly policies for the momentum, but also pointed to India’s strategic posture as a key strength. “We’ve not only held our ground diplomatically and militarily but also emerged as a confident, reliable voice on global platforms,” he said, referencing the recent standoff with Pakistan.This assertive stance, he added, has bolstered defence manufacturing under Make in India and Atma Nirbhar Bharat. “We’ve gone from nowhere to being a major global defence exporter. Our equipment has proven itself, and morale is high.”As supply chain risks mount globally, India’s pivot to self-reliance in strategic sectors, including defence, signals a long-term shift. “We can no longer depend on uncertain partners,” Nageswaran said. “Strategic autonomy is not optional, it’s imperative.”Despite the turbulence, India is not only staying afloat, but setting the pace. “Maintaining 6.5% growth in today’s climate is no small feat,” the CEA concluded.
