India's Economic Outlook: Riding the Growth Wave

Chief Economic Advisor V Anantha Nageswaran is optimistic that India will achieve economic growth exceeding 6.8% in the current financial year. This confidence stems from increased consumption spurred by GST rate cuts and income tax reliefs.

India's economy recorded an impressive 7.8% GDP growth in the first quarter, driven predominantly by the farm sector and services. Despite concerns about achieving the lower end of the projected range, India's growth outpaces China's 5.2% GDP growth.

Nageswaran suggests the growth trajectory could improve further if the US-India bilateral trade agreement is finalized. Currently, steep tariffs from the US impact Indian exports due to unresolved trade issues, including India's oil imports from Russia.