CEA Nageswaran Highlights India’s Ability To Adapt And Innovate Amid Economic Challenges

New Delhi, Jun 15 (KNN) Chief Economic Advisor (CEA) V Anantha Nageswaran on Sunday said India’s economic resilience and ability to adapt to changing circumstances have often been underestimated by critics who rely on linear projections to assess the country’s growth prospects.
 
CEA Highlights India's Economic Adaptability
 
Speaking to ANI, Nageswaran said the Indian economy is a complex system and cannot be evaluated through simplistic forecasts. He noted that some economists have failed to account for the country’s capacity for innovation and adjustment in the face of evolving challenges.
 
GDP Estimates Based On Internationally Accepted Standards
 
Responding to criticism over GDP estimates, the CEA said India follows internationally accepted statistical methods and does not use revisions in GDP methodology to artificially inflate growth figures.
 
He highlighted that recent revisions by the Ministry of Statistics and Programme Implementation (MoSPI) resulted in a lower GDP estimate rather than a higher one, reflecting a commitment to statistical integrity.
 
Official Data Remains Credible And Unbiased
 
Nageswaran said doubts over official data often arise when economic indicators do not align with preconceived expectations. He maintained that government agencies allow statistics to speak for themselves and that India’s data systems remain credible and unbiased.
 
Innovation And Startups Driving Long-Term Growth
 
Highlighting the country’s adaptability, he pointed to the growth of India’s IT-enabled services sector and the expansion of startup and innovation ecosystems across tier-II and tier-III cities over the past two decades.
 
According to the Provisional Estimates released by MoSPI on June 6, India’s real GDP is projected to grow by 7.7 percent in FY 2025-26, while nominal GDP is expected to expand by 9.1 percent.
 
(KNN Bureau)