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The Indian economy is in a "good position to absorb the shocks" and then "emerge stronger" at the end of it, according to Chief Economic Adviser to the Government of India, V Anantha Nageswaran.
Speaking exclusively to ANI, Nageswaran noted that while the ongoing West Asia conflict presents immediate challenges, the country maintains a foundation capable of withstanding external pressures. Nageswaran highlighted that the nation recorded consistent growth before the recent geopolitical disruptions in the Middle East. He acknowledged that while the current fiscal year might see some hurdles, the fundamental economic structure remains robust enough to manage the impact. "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. Regarding regional contributions to the national economy, Nageswaran spoke on the specific strengths of Tamil Nadu. He described the state as an all-round economy, citing its diverse advantages across various sectors, including industrial establishments 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. Addressing the 67th Institute Day celebrations at IIT Madras, Nageswaran framed the current global instability as a pivotal moment for the country. He pointed out that the post-pandemic period has been defined by steady growth and macroeconomic stability, which serves as a cushion against the fallout of the 2026-27 Persian Gulf conflict. "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. The CEA also touched upon the long-term trajectory of the nation. "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," Nageswaran said. He further commented on the role of institutional networks, specifically the IIT Madras alumni, describing this network as a significant asset that is currently in the process of being fully realized. "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," Nageswaran said. (ANI)
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