India's Economic Resilience: Nageswaran Predicts Growth Amid Global Challenges

India's economy is demonstrating remarkable resilience in the face of global challenges, as Chief Economic Advisor V Anantha Nageswaran predicts a robust GDP growth of approximately 7% by FY26. This optimistic outlook comes as global rating agencies upgrade their ratings for the country, indicating growing confidence in India's economic stability.

Addressing concerns over sluggish bank credit growth, Nageswaran pointed to a broader view of economic resource mobilization, which has increased significantly in recent years. He emphasized the multifaceted efforts, including government measures and RBI interventions, contributing to the nation's economic momentum.

As the future global economic landscape promises unpredictability and fragmentation, Nageswaran asserted the importance of continuing policy reforms and strategic investments, especially in critical sectors like maritime. This approach aims to fortify India's position, aligning fiscal polices and borrowing costs low to maintain fiscal stability.