Despite the global concerns, the Indian economy is still growing at a rapid rate, according to Chief Economic Advisor (CEA) V. Anantha Nageswaran.

Speaking at a gathering at Ashoka University, Nageswaran stated, “In spite of the difficult international climate, India’s economy is doing well. The ultimate FY25 number won’t be known until May, but based on current data, we appear to be making good progress.

Priority areas for the nation, according to the Chief Economic Advisor, are energy affordability and the creation of jobs during the energy transition due to the growth of manufacturing and small and medium-sized businesses. Additionally, he said, the nation’s workforce’s education, skill development, and artificial intelligence would propel growth.

As the nation progresses, he emphasized the necessity to pursue inclusive growth while preserving macroeconomic stability, which includes controlling inflation. In his speech, NITI Aayog Vice Chairman Suman Bery emphasized India’s long-term goal of becoming a high-income, developed nation by 2047.

“I think it’s an amazing accomplishment that India has maintained a steady yearly growth rate of 6.5% for the past thirty years. It demonstrates India’s institutional maturity as well as its institutional agility,” he remarked.

According to Bery, the unrest throughout the world may present India with chances. He emphasized how India might use its demographic dividend, technological advancements, and changing geopolitics to boost its economy. According to an IMF assessment published last month, India’s economy is still expanding at the quickest rate in the world and is the only nation predicted to grow by more than 6% over the next two years.

“Our April 2025 World Economic Outlook projects significantly weaker global growth at 2.8% for 2025 with growth downgrades for 127 countries making up 86% of world GDP,” stated Gita Gopinath, chief economist at the IMF.

Nonetheless, the outlook report predicted that the Indian economy will expand by 6.2% in 2025 and 6.3% in 2026, more than two percentage points faster than the second-ranked China’s economic growth projection of 4.2% in 2025 and 4.6% in 2026.

According to an IMF report, the US, which started the global tariff crisis, is predicted to see its GDP growth slow to 1.8% this year and then drop even further to 1.7% in 2026.