Indian economy to grow 7% or more in FY26: Nageswaran

His assessment marks an upgrade from the Economic Survey’s 6.3-6.8% GDP outlook

- Gireesh Chandra Prasad

Chief economic adviser V. Anantha Nageswaran said steady domestic drivers continue to underpin growth amid softening global conditions.

(REUTERS)

India’s economy is likely to grow at 7% or more in the current financial year, aided by a strong 8% growth in the first half of the year and the cumulative effect of structural reforms, chief economic adviser V. Anantha Nageswaran said on Friday after official September quarter growth of 8.2% was announced.

Nageswaran’s assessment represents an upgrade from the 6.3-6.8% real GDP growth the Economic Survey projected for this fiscal year in February. The Reserve Bank of India’s (RBI) estimate too has been 6.8%.

“Full year growth will be 7% or to the north of 7% rather than to the south of 7%. Basically, we are saying growth rate will be at least 7% for the full year.”

Nageswaran also said the 8.2% growth in the September quarter “is outside the range of most optimistic estimates.”