New Delhi, Feb 27 (IANS) Chief Economic Advisor (CEA) V. Anantha Nageswaran on Friday said there is no doubt that India will become the third largest economy in the course of the next few years, as the country’s real GDP growth rate was estimated at 7.8 per cent for Q3 FY26 in the new series with 2022-23 as the base year, and 7.6 per cent for the full financial year.
Answering an IANS question at a press conference here, Nageswaran said that our growth rate post-Covid has been probably one of the best, if not the best, in the world — especially among the G20 economies.
“But naturally, whether a particular relative position is reached or not, will also depend on many other factors, like the exchange rate. which in India’s case did not go in our favour in 2025. That will naturally have an impact,” he said.
The CEA further said that what we need to focus on is on aspects in our control.
“Both the policy and the reform directions are paving the way for sustained non-inflationary growth of at least 7 per cent in real terms, and 10 to 11 per cent in nominal terms in India,” Nageswaran told IANS.
He further elaborated that with trade agreements and the current state of the AI ecosystem in India, what was once considered a drawback in 2025, “could actually turn out to be India’s strength”.
“These things will improve capital flows and stabilise the exchange rate. The dollar value of the Indian GDP will reflect better the true underlying performance of the Indian economy in rupee terms in the years to come,” the CEA said.
Dr Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (Mospi), told IANS that the picture of the Indian economy, which the revised GDP series presents, is a much more robust and accurate picture.
“Where these numbers will actually lead, that’s the numbers themselves will say,” he added.
–IANS
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