Kamal Ghorui
Chief Economic Adviser V Anantha Nageswaran on Thursday said the Indian economy is well placed to withstand external disruptions and emerge stronger, asserting that the country’s macroeconomic strength built in recent years provides a cushion against global uncertainty.Speaking to ANI, Nageswaran said India had sustained growth of over 7 per cent before the recent geopolitical disruptions in West Asia and remains capable of handling setbacks in the current fiscal year.“The economy is in a good position to absorb the shocks and then emerge stronger at the end of it. We are doing well. We have been growing at 7% plus until this West Asia conflict happened. This year, there will be some setbacks, but we are well-positioned to deal with them,” Nageswaran said.His remarks come at a time when concerns over the ongoing West Asia conflict, higher crude oil prices and global volatility have raised questions over growth prospects for several economies.Addressing the 67th Institute Day celebrations at IIT Madras, the CEA described the current geopolitical turmoil as a turning point that could help India strengthen its long-term growth path.“The 2026-27 Persian Gulf conflict is an inflection point for India because we have done a good job post-COVID in maintaining steady growth with macroeconomic stability. But this crisis, due to the West Asian conflict, is giving us one more opportunity to put the country on an even stronger and more resilient growth path,” Nageswaran said.He also spoke about India’s broader long-term opportunity in the global economy and technology landscape.“The 21st century offers a civilizational reentry into the position of technological frontier. The students in this hall will not be spectators in the story, they will be its authors. And therefore, Institute Day is not a celebration of the past, it is a commissioning for the future,” he said.On Tamil Nadu’s contribution to the national economy, Nageswaran highlighted the state’s diversified strengths across education, skills, manufacturing and services.“We have quite a few strengths here in Tamil Nadu in terms of education, skilling, industrial establishment and services sector. It’s an all-round economy with strengths,” Nageswaran told ANI.He also praised the IIT Madras alumni ecosystem, calling it a major national asset.“The IIT Madras alumni network is one of the great unrealized assets. It is partially realized as well. Giving back is compounding an investment already made,” he said.
