India’s economic prospects appear bright, with Chief Economic Advisor V. Anantha Nageswaran predicting sustained growth exceeding 6.5% over the next ten years. This outlook hinges on increased investments in both physical and digital infrastructure projects.
Speaking at an event hosted by the National Council of Applied Economic Research in New Delhi, Nageswaran expressed confidence in maintaining a “steady growth rate” exceeding 6.5%.
He emphasised that India’s current economic position is “better placed than before” to achieve non-inflationary growth, which can help mitigate potential overheating risks.
While acknowledging the historical success of rapid expansion models like China’s double-digit growth for over three decades, Nageswaran emphasised the importance of India prioritising a more moderate yet sustainable growth trajectory over a longer period.
Nageswaran identified domestic economic strength as crucial for India’s future. He urged local and state governments to streamline regulations and simplify business operations.
He also highlighted the need for increased investments to enhance training opportunities and healthcare access for India’s young population.