On 13 August, 2024, we had the privilege of listening to Dr V Anantha Nageswaran, Chief Economic Advisor to the Government of India, deliver a lecture on the topic India’s Development Paradigm till 2047: Opportunities and Challenges. Dr Nageswaran discussed key aspects of the economic survey that were reflected in the budget, highlighting the opportunities ahead and the challenges we may encounter. He also elaborated on the direction of India’s economic path and the factors shaping it.
A central theme of the discussion was the importance of considering India’s economic events within a global context. Dr Nageswaran emphasised this point, stating, “So, for example, when you hear complaints about India’s trade policies, you must place them in the context of the global numbers of protective measures taken by different countries over the years.” Dr Nageswaran also addressed other critical topics such as geopolitics, climate change, and the energy transition, both in Indian and international contexts, as essential factors in shaping India’s growth over the next few decades.
The talk delved into the current state of the Indian economy, the reasoning behind recent decisions, and the opportunities and challenges that lie ahead, along with possible solutions. Dr Nageswaran also explained the rationale behind budgetary choices, noting, for instance, “So there is much more to be done in terms of skilling, and that is why this year’s budget created incentives for skilling.” The talk provided valuable insights into India’s development path and was an immensely enlightening experience.
(Reported by Pranvi Khare, Cohort of 2027, SIAS)