Compete, Don't Count On Rupee Fall: CEA To India Inc

Asks industry to increase capex for Mission 2047

- FE BUREAU New Delhi, May 29

India may have to deal with the challenge of living in an environment of a stronger currency, necessitating the private sector to become competitive based on domestic productivity improvement, chief economic adviser Anantha Nageswaran told industry captains at a CII event.

For this, deregulation also has to make a big contribution as it becomes more important than before, he said.

Speaking at the CII Annual Business Summit 2025, Nageswaran said that the International Monetary Fund has forecast the GDP of India to rise to $6.8 trillion by FY31, and their implicit forecast (they don't make an explicit forecast) is for a 0.5% to 0.8% annual rupee depreciation.