India's Economy: Resilient Growth Amidst Global Challenges

India's Chief Economic Advisor, V Anantha Nageswaran, conveys optimism about the country's economic growth, citing robust health indicators despite recent slower GDP growth. Key factors such as capital formation and export increases signal enduring strength, although global uncertainties pose challenges. Nageswaran urges cautious interpretation of quarterly fluctuations.

India's Chief Economic Advisor, V Anantha Nageswaran, has expressed confidence in the nation's economic trajectory. Addressing the Assocham's Bharat @100 Summit on Thursday, he emphasized the robust health of the Indian economy across various metrics, including external debt and non-performing assets in the banking sector.

Nageswaran acknowledged some inflationary pressure from specific food items but noted that these are limited within the consumer price index. He highlighted improvements in fiscal balance and capital expenditure over recent years, with a strategic shift towards capital expenditure, boosting economic resilience.

Despite concerns over a slowdown, attributed to adverse weather and unmet GDP growth forecasts, Nageswaran maintained that the foundational growth story remains firm. Key indicators such as capital formation and export performance underscore India's resilience amidst global challenges, though he cautioned against overinterpreting short-term fluctuations attributed to international uncertainties.

(With inputs from agencies.)