Too early to celebrate economic recovery in India: Arvind Subramanian

Stock markets reflect the Indian economy less. It would be a kind of policy mistake to infer from this (stock boom) anything about the diverse Indian economy, said Subramanian

Former chief economic advisor (CEA) Arvind Subramanian on Friday cautioned against celebrating economic recovery so early as the economy is just bouncing back from the big decline of the previous year. 

He also said that New Delhi’s policy of raising import tariffs and not signing international agreements would not help in shifting investors from China to India and would harm exports. 

“The GDP is barely back at the pre-pandemic level and IIP (the index of industrial production) is still below pre-pandemic level.

We are mistaking or there is a risk that we mistake the natural bounce back from the big