India’s external sector has shown immense resilience, leaving the country’s macroeconomic fundamentals better positioned to withstand sudden global shocks, stated Chief Economic Advisor (CEA) V. Anantha Nageswaran. Speaking at the NDTV Ignite Summit, Nageswaran remarked that external sector risks have eased considerably, indicating that the Reserve Bank of India (RBI) is unlikely to face any immediate pressure to draw down its foreign exchange reserves to stabilize the Indian rupee. He noted that the worst phase is behind the nation, attributing this stable outlook to prudent macroeconomic management and timely policy interventions during recent global structural disruptions.
Nageswaran firmly backed the RBI’s GDP growth projection of 6.6% for the financial year 2026–27, affirming that India’s macroeconomic trajectory remains securely under control despite a highly volatile international environment. However, he emphasized that to turn the vision of a developed nation under the ‘Viksit Bharat’ framework into reality, the country must sustain an long-term growth rate of around 8%. He also flagged potential headwinds, cautioning that prolonged geopolitical conflicts in West Asia or a continuous spike in crude oil prices above $100 per barrel could weigh down on economic expansion, potentially dragging the growth rate down to around 6%.
On the technological and employment fronts, the CEA emphasized the strategic necessity of creating fresh opportunities centered around the rapidly advancing Artificial Intelligence (AI) ecosystem. He advised the workforce to pivot toward developing skills that complement AI rather than competing with automation-driven disruption. Simultaneously, former NITI Aayog CEO Amitabh Kant echoed this sentiment at the summit, describing AI as a monumental revolution capable of triggering productivity gains far outpacing the historic advent of electricity or computers. Kant urged India to proactively construct a robust talent pipeline, progressive policy frameworks, and scaled-up digital public infrastructure to firmly establish itself as a global leader in the AI domain.
