Navigating Growth Amid Global Challenges: India's Maritime Vision Unveiled

Sanjeev Sanyal, of India's Economic Advisory Council, highlights how India maintains 7-7.5% growth with stability despite global uncertainties. He emphasizes the importance of removing systemic inefficiencies for growth. Sanyal advocates for West Bengal's maritime positioning and outlines strategic port and shipping infrastructure developments to bolster India's global competitiveness.

In a bid to showcase India's resilient growth trajectory, Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister, highlighted India's ability to maintain a steady growth rate of 7-7.5% while sustaining macroeconomic stability amidst global challenges.

During a session organized by the Merchants' Chamber of Commerce & Industry, Sanyal emphasized that India's current economic parameters remain robust, pointing to lower inflation, fiscal balance, and controlled debt-to-GDP ratios. He stressed the importance of addressing systemic inefficiencies for sustained growth, citing reforms like the Insolvency and Bankruptcy Code.

Sanyal urged West Bengal to capitalize on its coastal advantage by developing a major port, aligning with India's maritime goals for 2047. Speaking at a shipping conclave, he emphasized shipbuilding and logistics integration as critical components for enhancing India's international competitiveness.

(With inputs from agencies.)