India has a few silver linings, said Chief Economic Adviser V Anantha Nageswaran on Thursday, even as global economic and political uncertainty rises due to shifting policies and judicial responses—especially in the United States.
Speaking at a public forum, the CEA said, “We're living in a world where there are global economic and political uncertainties, where not only policies but judicial reactions to them keep changing on a daily basis.”
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The remark comes in the backdrop of a US federal court temporarily blocking the re-imposition of Trump-era tariffs on certain imports—raising fresh questions about global trade stability.
While the CEA refrained from directly naming the US or the Trump campaign, his remarks were widely interpreted as a reference to the ongoing tariff-related legal developments in the US.
On tariffs, he said: “India has a few silver linings. Energy prices are low...Irrespective of how tariffs evolve after the 90-day pause granted to China, India is likely to gain an edge in certain sectors where it previously lacked a competitive advantage.”
He added that the government's major tax relief also kicks in this year. Monsoon progression and distribution have been good. Sustaining GDP growth seems like a reasonable prospect, and the International Monetary Fund "agrees with us", the CEA added.
The private sector shouldn't expect that the rupee will weaken like it did in the last 30 years, going ahead. From a short-term cyclical perspective, we shouldn't be subsumed by uncertainties, he underlined.
The CEA also emphasised that “trust, deregulate, reciprocate” are key principles to avoid falling into the middle-income trap.
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