India: A Beacon of Economic Resilience Amid Global Uncertainty
Chief Economic Advisor V Anantha Nageswaran highlights India's economic stability despite global challenges like conflicts and trade wars. He notes India's fiscal improvements and steady growth, making it a rare 'bright spot.' The country's current 6.5% growth rate is seen as a significant achievement.
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In a world beset by turmoil and unpredictability, India stands out as a rare 'bright spot,' according to Chief Economic Advisor V Anantha Nageswaran. Despite military conflicts and trade wars affecting nations globally, India has maintained a resilient economic performance.
Nageswaran, speaking to PTI, expressed concern over the increased intensity of global conflicts, particularly those between West Asia, Ukraine and Russia, and India and Pakistan. He warned that these geopolitical tensions create an arduous environment for economic growth worldwide.
However, India's economy is showing strength with a current growth rate of 6.5%, credited to fiscal discipline and investor confidence. The advisor noted the narrowing gap between Indian and US government bond yields as evidence of this confidence. While there is ambition to grow beyond 7%, the CEA stressed that even maintaining the existing growth is commendable given today's global climate.
(With inputs from agencies.)
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