Page 2 - Chief Economic Advisor

CEA Nageswaran warns of tough trade-offs in India's energy transition

Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday cautioned that India's path to sustainability and climate goals must not undermine its economic aspirations, stressing the very crucial and critical trade-offs in energy transition, fiscal stability, and banking soundness. Speaking at the Bengal Chamber AGM and Indo-Pacific Economic Conclave, he said India has been a standout performance among the G20 countries in mitigation, but achieving sustainability goals requires acknowledging difficult choices. For a country aspiring to become a developed economy by 2047, energy transition and dealing with climate change must not consign not just India but also other developing countries in the Indo-Pacific and Africa to a state of permanent underdevelopment, he said. Nageswaran pointed out that India's energy consumption will necessarily keep rising as our per capita incomes rise in the coming years. He termed the carbon budget allotted to developing nations arbitrary, saying it ..

US may cut tariff to 10-15%, penal duty likely to go: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran said, according to his intuition, the penal tariff was unlikely to continue beyond November 30

Tariff issue with US may be resolved in 8-10 weeks: CEA Nageswaran

CEA V Anantha Nageswaran said India and the US could resolve their tariff dispute within 8-10 weeks, as both sides hold talks and look to improve ties

GST reforms to cushion Indian economy from US tariffs, says CEA Nageswaran

Chief Economic Adviser Anantha Nageswaran said the GST reforms would help counter the effect of US tariffs by stimulating domestic demand and mitigating risks to capital formation

Govt working overtime to cushion export sectors against US tariffs: CEA

Chief Economic Advisor (CEA) Anantha Nageswaran on Saturday said the central government, along with various stakeholders, are actively working overtime to cushion export sectors in view of the recent imposition of an additional 25 per cent tariff by the United States. The US has imposed a steep 50 per cent tariff on Indian goods entering America from August 27. Nageswaran highlighted that crises, whether minor or major, often act as catalysts, providing focus and purpose for all segments of societyincluding the government, private sector, and householdsto undertake necessary actions that might otherwise have been delayed. Since the tariffs took effect, "Conversations have been happening in the last three to four days", involving various exporting and representative bodies, private sector export promotion agencies, and the ministry, he said. Nageswaran, speaking virtually at ICC organised event, said that the ministries and the Ministry of Finance are "working overtime" to formulate

India's 6.5% GDP growth in FY25 'creditable' amid global headwinds: CEA

Chief Economic Adviser V Anantha Nageswaran cites policy continuity, PLI success, and external resilience as key factors in India's strong 2024-25 economic performance

India needs to try become indispensable like China: CEA Nageswaran

Chief Economic Advisor (CEA) to the Indian government, V Anantha Nageswaran, on Tuesday said the country needs to prioritise areas like manufacturing, education, and employment generation to become a developed nation by 2047 and become indispensable like China. Nageswaran, delivering a lecture on the topic 'Global Economic Trends India's Challenges and Prospect' at the Raj Bhavan here, said that in the next couple of decades there will be a unpredictable, volatile and dangerous geo-political environment in the world and the geo-economic is going to be uncertain. So, the priority areas for India in the next 20-25 years should be education, skilling, good mental and physical health of the population, energy affordability and transition, rise of manufacturing, food security, increasing agriculture productivity, generating employment and increasing the rate of investments, he said. Kerala Governor Rajendra Vishwanath Arlekar, who presided over the event, said that 'Viksit Bharat' will

Trust, deregulate, and reciprocate to escape middle-income trap: CEA

Nageswaran also said India should not be overly consumed by global uncertainty, especially with a domestic economy where private consumption accounts for 60 per cent of GDP

Union Bank's ₹7.25 cr book purchase faces heat amid Subramanian's IMF exit

Public sector lender Union Bank purchased 189,450 paperback and 10,422 hardcover copies of Krishnamurthy V Subramanian's book 'India@100: Envisioning Tomorrow's Economic Powerhouse' for ₹7.25 crore

Indian govt decided to terminate services of Subramanian: IMF

The International Monetary Fund on Monday said that the termination of services of Executive Director K V Subramanian was a decision taken by the Indian government. Government of India has terminated services of Subramanian six months ahead of his three-year tenure. The termination was effective April 30, 2025. However, reasons for Subramanian's exit have not been officially announced. "The appointment and termination of any member of the Executive Board is a decision for member countries to make. The termination of ED Subramanian is a decision by the Government of India. We wish him well in his future endeavours and look forward to working with his successor," IMF spokesperson said when reached out for comments. According to sources, concerns were raised over an "alleged impropriety" relating to the promotion and publicity of his latest book, 'India@100: Envisioning Tomorrow's Economic Powerhouse'. It is also alleged that Subramanian used his official position to pressurise some .

KV Subramanian to exit IMF role early, govt begins search for replacement

Krishnamurthy Subramanian is set to leave his IMF post early amid reported concerns over data issues and book promotion. Meanwhile, the Indian government begins searching for his replacement

Six month left, Krishnamurthy Subramanian's term cut short at IMF

Subramanian, who took up the IMF post in November 2022, represented India, Bangladesh, Sri Lanka, and Bhutan. As of May 3, the IMF's website lists the position as vacant

Relevance of gold as asset class to rise in coming years: CEA Nageswaran

Gold will remain relevant for investors as a portfolio diversification mechanism with a "likely ascending importance" as an asset class in the coming years, Chief Economic Advisor V Anantha Nageswaran said on Monday. Speaking at the IGPC-IIMA annual gold and gold markets conference 2025, he said that gold will remain relevant not only as a store of value, as an ornament for cultural and religious purposes, but also as an important portfolio diversification mechanism "until such a time the world is able to arrive at an international monetary system from the current international monetary non-system". "That day of reckoning is very difficult for any one of us to prophecy at this stage," Nageswaran said. The value of gold has increased by over USD 200 per ounce or 8 per cent in the last three months to USD 2,860 per ounce. At the same time, the indian stock markets have fallen over 8 per cent over the last three months. Since 2002, the value of the precious yellow metal is up 10 times

India's economy unshaken by global risks: CEA V Anantha Nageswaran

The CEA noted that urban demand has strengthened while inflation is on a downward trend

US can be 'fabulous economy' with tariffs: Trump' s chief WH economist

Miran offered some historical backup for Trump's attraction to the high-tariff policies of William McKinley, who was president at the turn of the last century, and some of his predecessors

V Anantha Nageswaran's term as CEA extended by 2 years until March 2027

Nageswaran, in his pre-Budget Economic Survey for FY25, made a strong case for deregulation, particularly at the state level, to spur capital formation and drive employment and output growth

Govt extends Chief Economic Adviser Nageswaran's term until March 2027

Nageswaran was appointed to the position in 2022 and has also served as a part-time member of the economic advisory council to the prime minister from 2019 to 2021

Rupee depreciation may slow if inflation remains in control: CEA Nageswaran

Nageswaran attributed the rupee's current weakness to the prolonged strength of the US dollar, rather than any structural issues with India's economy

Tax relief move has reduced demand uncertainty: CEA V Anantha Nageswaran

Nageswaran says Budget gave a nudge to pvt sector investments

Record tax cuts in Budget to spur consumption, says CEA Nageswaran

In the Economic Survey last week, Nageswaran said that Asia's third-largest economy is expected to expand at a modest clip of 6.3 per cent-6.8 per cent in the coming fiscal year