India Needs to Take Advantage of Conducive Global Situations

Forward-looking strategic trade roadmap to create more vibrant export sector Govt bullish on creating robust infra, private sector must reciprocate too

- FPJ News Service

India has to be prepared to take advantage of the conducive global situations to grow at a faster pace to achieve the goal of becoming a developed nation by 2047, Chief Economic Adviser V Anantha Nageswaran said on Friday.

Nageswaran attributed the slowdown in India's economic growth to global factors.

According to the Economic Survey, India needs to grow at 8 per cent for up to two decades to become a developed nation by 2047.

Addressing a press conference after tabling of the Economic Survey 2024-25, he said the current relative slowdown in the Indian economy should be seen in context and 'India still remains the fastest growing large economy in the world.

According to the NSO estimates, India's economic growth is expected to slip to 6.4 per cent in 2024-25. The Survey has projected a growth of 6.3 to 6.8 per cent for 2025-26.