Q1 GDP print shows domestic momentum strong but global risks remain a concern: CEA Nageswaran
India's domestic economic momentum remains strong in the near term, but uncertainties over global interest rates, energy supplies and food prices could weigh on growth going forward, India's Chief Economic Advisor, V Anantha Nageswaran said on Monday. He said the economy had demonstrated considerable resilience despite geopolitical disruptions and external shocks, but warned that global…
India's Chief Economic Advisor, V Anantha Nageswaran, spoke on Monday about the nation's strong domestic economic momentum despite global uncertainties, according to a report by ANI. The economy grew by 7.8% year-on-year in the April-June quarter of FY27, surpassing the 6.9% growth of the same period last year and the RBI's 7% projection.
However, Nageswaran cautioned that global factors such as interest rates, energy supplies, and food prices could impact future growth. He highlighted the resilience of the economy in the face of geopolitical disruptions and external shocks, attributing the growth to strong domestic activity, favorable monsoon conditions, and improved export performance.
Nageswaran also noted the benefits of free trade agreements, export diversification, and potentially improving competitiveness in the Indian manufacturing sector.
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