India also has an Iron Dome! The economy remains safe from crises around the world, why did the CEA make such a claim
India’s Growth Rate: India’s Chief Economic Advisor V Nageshwaran says that the world is currently troubled by war and missile attacks. The global economy has slowed down and in such a situation, India’s growth rate of 6.5 percent holds a lot of significance.
New Delhi. Chief Economic Advisor (CEA) V Anant Nageshwaran said that India also has an iron dome, which protects the economy from crises around the world. Pointing to the stable economic performance of the country despite the current global challenges, he said how India remains in a better position amid global uncertainties. In a way, this is India’s economic iron dome, which protects our economy despite all the troubles. The CEA said that conflicts and disruptions have been part of the global landscape since 2022, but they have now become more unpredictable. This has posed more challenges to growth around the world, whether it is political, economic or security-related, the overall environment. This is having a profound impact on economies around the world. Despite this, the Indian economy is growing much faster than any other country.
War has slowed down the world
Nageshwaran said that the growing global uncertainties due to the tariff war along with the military conflicts between Ukraine-Russia, India-Pakistan in West Asia and now the ongoing war in Iran-Israel are also affecting the Indian economy. The CEA said that you can say that these situations are somehow dominating the positive possibilities. But, this is not just India’s problem, it is affecting many countries.
What is its effect
The CEA said that to some extent it can be said that today the global environment, whether it is political, economic or security related, has become quite complex and more challenging for growth. This can create problems not only for India but for many countries, even for almost the entire global economy. Nageshwaran said that he believes that even in these circumstances, India is actually in a relatively better position.
India’s growth rate an achievement
The CEA said that India’s current growth rate of 6.5 per cent is a significant achievement in the current circumstances. Keeping this rate is no small feat considering how difficult the global environment has become since the 2008 financial crisis. The government is continuing its efforts to increase the growth rate to 7 per cent and above. Nageswaran cautioned that the world is no longer operating in the favourable conditions in which it used to earlier.